Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Tobias Norrby. Please go ahead. Good afternoon, everyone, and thank you for calling in today. The presentation of our second quarter results today will be conducted by our President and CEO, Mr. Kristoffer Ljungfelt, and our CFO, Mr. Henrik Skogsfors. And with that, I leave it over to you, Kristoffer. Thank you, Tobias. Good afternoon, everybody, and welcome to this quarterly update. Let's start with a summary of the second quarter. The kitchen market remained very challenging in the project segment across all our geographies, and we do not see any signs of short-term improvement in this. However, we continue to see an early recovery in the retail segment, and judging from the growing number of web visits and de sign appointments that we have had compared to the same period last year. Organic growth came in at negative 3%. There are some business units that have done really well in terms of sales, given the tough market situation. Among others, it's good to see that the UK is growing again in the quarter by 5%, and it's driven mainly by a successful retail campaign, where we also gain market shares with sustained gross margins. We also had a quite positive momentum in Denmark. On the opposite side, we continued to experience double-digit sales decline in the product segment in all geographies where we are present. Improved gross margin reported in the quarter with increase in the Nordics primarily. The improvements were related to higher share of sales to the retail segment. Although we are pleased with this performance, we still target share gains and growth in our product business, which may moderate gross margins later in the year. It's also important to emphasize here that we remain committed to covering gross margins to the levels seen prior to the pandemic, as we work hard on improving our ranges, winning new customers in the mass premium segment, and driving efficiency, as always, through our supply chain network. SG&A was slightly higher in the quarter versus last year. Currency adjusted, the SG&A is actually flat. As we have reduced costs in the business, we also decided in the quarter to increase footfall driving activities through our Magnet stores, and thus, SG&A in the U.K. is slightly up. To mitigate lower product volumes and cost inflation going forward, we find it necessary to launch further cost program, which was also announced in June. EBIT came in at SEK 42 million, compared to SEK 36 million prior year. Operating cash flow came in at -53 million SEK, which is an improvement compared to last year, but driven primarily by timing and working capital from last quarter. In this amount, we have also taken an investment of about 230 million SEK, related to the mainly relating to the Jönköping investment. We have taken significant steps in the quarter on our strategic agenda. Among other, we closed the share rights issue in April and announced further consolidation on manufacturing in the U.K. We are gradually increasing production of components and flat pack cabinets in Jönköping, our new factory in Jönköping, and we are igniting a new cost out program, primarily targeted to adjust our fixed cost base and drive efficiency in both the U.K. stores as well as the Nordic supply chain. So the next slide, please. Let me reiterate some actions that we've been taking to strengthen our balance sheet as of late. I already mentioned the share rights issue that was completed in April. On top of that, we divested non-core assets in the Netherlands and Austria and made a sale and leaseback arrangement of our building in Jönköping. In addition, we're drawing towards a much more asset-light organization by reducing cost. In Q2, 2023, we launched a program to save SEK 350 million, and this was finalized and delivered ahead of plan by Q1 this year. Because of the program result in Q2 this year, we're also facing a bit tougher comparables from this quarter and onwards, and that's why we find it so necessary to drive further cost out efficiency. We will do this by launching the new program in the quarter to save a run rate of SEK 200 million, primarily by consolidating manufacturing in the U.K., closing unprofitable stores, drive efficiency improvement in the Nordic supply chain. By delivering on this cost out program, we expect that we can mitigate volume decline in product business. We also take a very important next step in our strategic agenda and driving towards a more asset-light operating model in the U.K. The cost out program resulted in a one-time cost of SEK 213 million in this quarter. Looking ahead of this, we also do not rule out further cost programs, and that's partly to save profit in a soft market, but also to follow our, our, strategy. Next slide, please. The strategic priorities. First, on the strategic priority, the activities we have discussed already. Secondly, realizing the full potential in the Nordics is highly dependent on our go live in our new fantastic factory in Jönköping. We know our brands are very well positioned in the market with high awareness and high brand preference. Equipped with a state-of-the-art factory, will truly set us apart from competition with regards to design, lead time, sustainability, cost position, and much more. And in June, we had a couple of great days where we did and first experienced the end-to-end trials that we did with the automated machinery when all of the machinery was running simultaneously. And that marked a very special moment for us at Nobia. But a lot remains to complete the manufacturing and to ramp up the manufacturing in Jönköping, and consolidate the volume into the factory. And having said that, I have full trust in our very competent team in place in Jönköping, that to this point, has been on time and on budget during the entire project. As for the UK transformation, we are progressing at pace. There's a lot of work that has gone by to close unprofitable stores and factories, and at the same time drive sales in the midst of a challenging market situation. And for that reason, I think that the UK team, spearheaded by George Dymond, has done a great job in change management and still growing the business by 5% with stable gross margins. Average order values, that is concerning to us, was up roughly 10% in the quarter, which is okay, but we had higher expectations, so we expect our consumer prices to come up slightly from current levels. Growth in both, volume and average order values in retail is a testimonial that our Magnet brand stands strong in the mass premium segment, which is also nice to see. However, and as I have alluded to a couple of times already, the cost of doing business in the UK is still too high, and this is something that we then address going forward also with the cost program. Let's move to the next slide, please, on the market situation. As you can see, obviously here, we track the housing starts, an early indicator of demand for kitchens. As you can see from the graphs, it's still very low levels of housing starts, and even if Sweden and Finland have recovered slightly, the levels are unprecedentedly low and probably unsustainably low, for that market, and people need housing. On the back of this market data, we don't expect the kitchen market for the project segment to come back short term. As I was alluding to before, the retail segment in the Nordics looks slightly more promising. If we then move over to U.K. on the next slide, and here, as you can see from the graph, the U.K. housing starts are currently also facing challenges, and it even dipped below 20,000 housing starts by the end of last year, which is a very low level. However, since our share in the project segment is quite small in the U.K., there is still ample business opportunities for us. There's also a significant pent-up demand after years of underinvestment in new builds, so we remain optimistic that there will be some new governmental-backed projects that could start going about, and they succeed with their promises of reducing bureaucratic hurdles for house developers. And we will follow up on that, obviously. In the U.K. retail segment, there are clear signs of recovery, with consumer confidence rebounding from also very low levels. However, with high interest rates and among the highest interest rates in Europe, we don't expect significant improvement until financing becomes more accessible. With that, I'll leave it over to you, Henrik, to address the different regions here. Thank you, Kristoffer. Nordic region, second quarter. Organic sales experienced a double-digit decline consistent with the first quarter of 2024. Although average order values continued to support the top line, the substantial decrease in volume negatively impacted sales performance across all countries in the Nordics and segments. On a positive note, the retail sector showed low single-digit growth that was offset by a significant sales decline in the project sector and a smaller drop in the trade sector. Finland encountered the largest decline in sales, trailed by Sweden, Norway, and Denmark. The gross margin for the quarter showed an improvement of 6.3 percentage points, reaching 38.2, which is satisfying given the significant decline in volume. The uplift in gross margin is explained by favorable segment, country, and product mix, with consumer sales holding up better than the professional segment. The improvement was partially hampered by adverse currency effects. The strong performance in Denmark was a key contributor to this gross margin improvement. As outlined in the quarterly report, we accounted for SEK 34 million as items affecting comparability in the quarter. These costs are associated with the transition to the new factory in Jönköping, as well as new measures to adapt to lower volumes, which was communicated to the market on June twenty-seventh. The favorable segment, country, and product mix development supported EBIT that increased from 101 to 113 million SEK in the period, with a strengthening of the EBIT margin to 7%. Over to the next slide, please. Quarter two, region U.K. Same underlying trends as for the Nordic region, where retail show growth and project is declining. Organic sales in UK increased by 5%, as Kristoffer alluded to earlier. Following growth in the winter sales campaign, the retail segment displayed double-digit growth, which was partly offset by a single-digit decline in project and double digits in trade. The gross margin was close to par with the previous year, which is explained by the positive contribution from retail, which was hampered by the volume decline in primarily the project segment. Currency adjusted SG&A increased by SEK 25 million, which is to be addressed with the currently launched cost out program, and one of the reasons why we move towards a more asset-light model. EBIT came in slightly below the previous year. As outlined in the quarterly report, we accounted for SEK 179 as items affecting comparability. These costs are associated with primarily the closure of the Halifax manufacturing as part of the transformation of the U.K. business, as well as further measures in the transition to an asset-light model in the U.K. by closing underperforming stores that are up for lease renewal and further decentralization of operations. Next slide, please. Financial position. Cash flow from operating activities was SEK 165 million for the quarter, an improvement of nearly SEK 100 million, year-over-year. The improvement was driven by timing of working capital from the first quarter, partly offset by lower cash profits. The operating cash flow, including investments, amounted to negative SEK 53 million, where our investments in the quarter primarily related to the new machinery for the factory in Jönköping amounted to SEK 227 million. In April, we successfully executed the rights issue of close to SEK 1.26 billion, combined with net debt reduction activities completed during the first quarter. Except the property in Jönköping and the divestments of ewe and Bribus. This has resulted in a decline in net debt. Net debt, excluding construction debt, decreased year-over-year by 571 million to SEK 1.934 billion, and a decline by SEK 900 million from end of the first quarter in 2024. Important note is that we still have approximately SEK 650 million in continued outflows before the investment in the factory are completed. Upon project completion, we will receive approximately SEK 350 million from the buyer of the property. Over to you, Kristoffer, and next slide, please. Thank you. So you obviously can see there's some good momentums in parts of the business, but clearly the profitability is not where we want it to be. So we have a lot to do, but the priorities going forward are very clear to all of us in the organization. First of all, given the recovery in the consumer segment, we would push hard for growth in that segment, and we know that we can capitalize on our brand strength, and we have a very strong sales organization to do so. So pulling investment into to that area of our business. Further on, we deliver on our cost programs, and we also investigating further opportunities for cost out measures in second half to compensate for weak product markets with no improvements expected in the short term. And thirdly, obviously drive efficiency improvement in our supply chain to compensate for lower volumes, and I think that that was material for the cost out program we did this quarter, and also the gross margin improvement to some extent, despite the large volume reduction through running through the factory. And then we're gonna focus on completing our strategic initiatives. We will maximize cost efficiency and reduction of net debt by evaluating further opportunities for cost reduction and efficiency improvement, that I, as I was alluding to. We will realize the full Nordic potential by completing our state-of-the-art factory in Jönköping and pushing product and process harmonization through that work as well. Finally, we have a clear sight of how we should transform our UK business into an asset-light business model with strong partnerships and a strong decentralized organization built around strong brands and highly efficient supply chain to serve our partners and customers and consumers. With that, we open up for any questions that you may have. Thank you. As a reminder, to ask a question, you will need to press star one and one on your telephone and wait for your name to be announced. To withdraw your question, please press star one and one again. Please stand by while we compile the Q&A roster. We will take our first question. Your first question comes from the line of Anton Lund from Kepler Cheuvreux. Please go ahead. Your line is open. Hi, Kristoffer, Henrik. A few questions from my side. First, in the working capital, is there anything in there related to order intake or down payments at all? Well, I'm not really sure I understand the question. Can you repeat that one, please? Yeah, sure. So, the working capital improves here in the quarter. Is it at all related to forward, like, future down payments or anything forward-looking? A part of it is included there, yeah, because that's the normal business in the UK, that we have prepayment. So it's nothing abnormal. It's, you know, normal things that we have in working capital. ... So nothing, you know, extraordinary in that one. Okay, thanks a lot. And then, you mentioned additional cost initiatives. What do you have in mind there? It's too early to say. I mean, we are addressing our cost base in all parts of the business. And basically we have announced the Q2 program for addressing the UK store network and the supply chain in the Nordics. But again, we are looking into all parts of our business to reduce cost. Got it. And then, one last question from my side. I don't know if I missed it earlier in the presentation, but the UK gross margin is stable year-on-year, despite the better performance in the B2C segment. Is it a result of orders taking Q1 at lower prices, or what's the reason that we're not seeing an improvement here? Well, primarily we have a huge drop in volume on the project and trade side to some extent, which is going to impact us profitability in the supply chain network. There's a slight investment in the credit given to our consumers because of that cost basically going up from the credit insurances, so. Got it. All right. That's all for me. Thanks. Thank you. Once again, if you wish to ask a question, please press star one and one on your telephone. There are no further questions at this time. I would like to hand back to the speakers. Okay, well, then we conclude from our side and welcome everyone back on the fifth of November for the third quarter results. Thank you, everyone. Thank you. This concludes today's conference call. Thank you for participating. You may now disconnect.