Hi everyone, welcome to our Q2 Report Presentation. My name is Christopher Ramstedt, I am Investor Relations and Communications Manager here at Proact. With me today are Magnus Lönn, President and CEO, Åsa Regen Jansson, CFO, who will walk you through an introduction to Proact, followed by a quarterly update, financials, lastly, our closing remarks. After that, we will open up for questions. You can either raise your hand or submit a question in the chat, I will read them out at the end of the presentation. With that, I hand over to you, Magnus. Thanks, Christopher, welcome everyone. It's glad to see that we have a bunch of dedicated investors and shareholders on the meeting here. As Christopher said, I will walk through a short introduction of Proact, what we are doing, how we are earning our money. Of course, we will after that, dig into our quarterly numbers. Åsa will guide us through, we will end up with questions and so forth. Starting off, Proact, we are a tech company that has been around for 30+ years, is founded in Sweden. Throughout the year, we have really specialized what we are doing. We are super good and great in something that everyone is needing these days. We are working with protecting data and helping our customer to store data. That is our core business and focus, what we started the company ago with for 30+ years, what we are still doing. Over the years, we of course have expanded this wheel, we remain really solid in that. If you think about this is exactly what is happening now with the global AI scale-out and things like that. This is the core of what we're doing and the essence of Proact. Today, we are operating in 12 different European countries. You can see them on the colorful map here. Our offering, I will go into that a little bit more, is part of that we are doing system sales, we have a lot of recurring revenue coming from our own services. You also see in the graph here that we are on a growth journey, both from a top line, also our results. This is something that we have been doing good for the last year, something we will focus even more going forward. As you see in the picture down to the left there, for us, it doesn't really matter where the data is. We are true experts in handling if data is in our data centers, if it's at the customer data center, or if it's at one of the hyperscalers. We are really into data. That is what Proact is really, really good at. If you take the next slide, Christopher. When it comes to our revenue and how we earn our result is that roughly half our business comes from system sales, as we call it. That means in practice that we are working super close with our customer in guiding, advising them on how they should build and create the critical infrastructure. In practice, that could be storage from example, NetApp or Dell. It can be an NVIDIA GPU that should be part of an AI solution. It could be a backup solution. This is something that we are really, really working tight with our customers, and are advising them. The solutions that we are provide, it is more related to enterprise and large companies, and it is part of the critical infrastructure that is needed. On everything we sell, we also have the expertise that we can provide our own support, meaning that if something breaks, then we have our own staff that is helping the customer to get it up and running again. This is what we call our Support service. The good thing with the Support service is that it's often long contract. It's often three to five year. It's upfront payment, and we are there and have a close relationship with the customer throughout this. This is also some of the key thing for us at Proact that we are building long customer relationship. There is one thing also I forgot to mention around our Systems business, that is that given that we are working with larger customers and we do revenue recognition when we have delivered the stuff, our Systems business can vary from quarter- to- quarter. When evaluating Proact and our Systems business, I think it's super important to see it over a longer term because sometimes a system deal can be recognized in the quarter or a few days after. It can be a little bit variance. Also, as I said in the beginning, everything we sell, we can also provide that as a service to our customer, this is what we call our Managed Cloud Service. This is a key area for us because this is recurring revenue. We are focusing a lot around this one because, I will come back to that when it comes to memory prices and things like that in the market. We see this as an area where we see continued good growth and good momentum. I always say this, we would be not doing anything unless we had really great consultants that are out helping our customer with really high competence level. For us, the combination of all of these four revenue streams, they are often in close connection to each other and they strengthen each other. That also is a good way for us to be very close to our customer and help them. If you take the next slide, Christopher. If you look into the customer base that we have here at Proact, if you take one step back, is that the solution and the problem that we are helping our customer to solve is generic. As the world have developed today, I can't come up with [any] company out there that doesn't have an IT system or a core critical infrastructure as a key part of their business model. Therefore, our solution and the spread of our customer is generic. From a risk perspective, I think this is a really strong position for Proact because we are not dependent on any specific sector. We are operating in many sectors, that also creates a sort of robustness when it comes to our performance. The key thing for us, that I also said that it often starts with our support and building long customer relationship, is that we have customer that are very satisfied in what we are doing, they are really valuing our competence. I think that is a key thing for building a company and being really good at it. Foremost, also be able to sell and get value out of what we're doing, that is that you should be focusing on solving the complex and hard problems that our customer is focusing upon, and that is what we are doing on a day-to-day basis. The next slide, Christopher. If you zoom out a little bit, and you look into the trends, I think you all on this call are well aware about the global AI scale-out that is happening. Data center and creating the ability for companies to grow and handle their critical infrastructure is a trend that has been ongoing for a while, and I think that is something that will continue many years to come. This is Proact's core business, so we are really well-positioning here. Another thing that has actually been accelerating, and this is also coming a lot from U.S. and also how the macro political environment has developed over the years, is also the demand for sovereignty and also making sure that our customer owns the data and that they are certain about where the data is stored and that they can sort of making sure that it doesn't spread or someone else can turn off their business. That, as I said before, critical data is a key thing for our customer and becoming more and more relevant to build a robust environment. This is a trend that we are working with, and we see more and more. Then in general, data amount is increasing. We as individual and companies are generating more and more data. If you have data, that's the foundation to be and creating value out of AI because if you don't have good data and if you don't have control of your data, then it's a really hard thing for an AI to create value out of it. Then the fifth trend that is unfortunately becoming more and more relevant is the security and cybercrime and resilience. Given that we are becoming more and more digitalized, a lot of unfriendly entities and also criminals are doing a lot to get hold of companies' data to destroy and do ransomware attacks and things like that. Therefore, helping our customer protect and foremost, building an environment where they can restore the data, I would say that has become more and more relevant. All of these five trends is something that we will be seeing coming more and more and that we will talk about. Proact as a company, this is what we can and what we are doing and what we are helping with our customer. This is a sort of a short overview of us as a company to get a little bit more sense of what we're doing. With that said, I think we should move into our quarterly result and what we have achieved and released earlier today. As you saw, Q2 for us was a really great quarter. We delivered a growth of almost over 10%, and we also increased our profit with almost up to 40%, resulting in EBITA of SEK 105 million. Åsa will guide us through the details in a short while, but I just want to zoom in on some highlights before that. You that has been following us for a while know that if you look into the graph here, we have had some long-term downfall in our business units outside the Nordic region. I am very satisfied with that me and my management team and the work that we have done throughout the spring with a cost-e fficiency program now actually are paying off. We see the second quarter in a row where both Central and West are moving in the right directions. U.K. has done a fantastic job, and also moving in the right direction, and the Nordic region continues to deliver a very high level. That is really satisfying to see that all business units are back where it should be. As you can see in the graph, we have definitely more work to do, and that is something that we are really laser-shaped focused upon, and we'll continue. We are in this quarter, I can definitely say that we are on the right track. Also, in the quarter, we signed up a strategic partnership with Truesec. This is part of our strategy that becoming more and more trustworthy and also provide other solution when it comes to cybersecurity to our customers. A key thing, we probably will dig into that a little bit later also in the closing and the question is the memory prices. As you all know, due to the global AI scale out, there has been a shortage of memory components. The impact of that is that through the last year, accelerating the second half of the year, the memory prices has increased and becoming more and more expensive. During the quarter, we have seen that this continues, and what has maybe a little bit more accelerated than I thought was that now delivery times of this component is becoming more and more longer. That is due to the fact that there is such a high demand in the market. Even if all the factories are producing memory chips as fast as they can, the demand is much higher, and then that creates this impact of longer delivery times. During Q1 when we presented that, my best projection was that the memory prices should be at least a good part in 2027. Today, I would say that I'm more convinced that the memory prices will continue be on a high level, at least for the full of 2027. That is that the sort of demand is still there and increasing. We have also seen that a lot of customer really realize this and also then continue and buy, because as I said before, this is critical infrastructure, and it's not easy to sort of not doing these investments, because then you can put your company at risk. Another key thing is that we have been working a lot with our strategy. We have come far on that. We have and will announce also after the summer that we will hold a Capital Markets Day. I will get back with the dates, now I think we are in a position where we also have done our homework and that we have a clear view of what we are going to focus upon going forward. I think all in all, with that said, I think we deliver on a good quarter, according to our expectation and also plans. If you take the next slide here, Christopher. This is also just for everyone to see also how our four business units are delivering. As I mentioned in the beginning, the Nordic region are doing really great work. I'm really pleased to see that the team are really continuing and deliver on high level. As I mentioned, U.K., looking back and with the work that Jamie and the team have done, it's really going in the right direction. Worth mentioning is that U.K. on a system side had a weaker quarter, still the team managed to sort of boost the margin in the right direction. Maybe what I'm most satisfied with is that both our business, both West and Central, are back to positive numbers. If you compare the same quarter last year, I think the work that we have done there is really going in the right direction. As I said, we are by far ready, and as you can see, we are not at all on the levels where we expect to be. Still the trend is there, and that also gives us a sign that we have been doing the right actions. Now it's more about doing more of that and then continue to be persistent to make it even better going forward I think with that opening and high level summary, I am very glad to hand it over to you, Åsa. Thank you, Magnus, and good afternoon, everyone. Let's look a bit closer at the numbers for the quarter, starting with total revenue. Total revenue amounted to SEK 1,286 million which is an increase of 9.8% versus last year, driven by a continuous strong underlying demand and with contribution from our acquisitions. The organic growth amounted to 8.1%, where the contribution from the Danish business Consular that was acquired in December last year, and the effect from the divestment of the business consultancy business in the Netherlands had a net impact of 2.1%, slightly offset by a smaller adverse currency effect of 0.4%. If we change slide and look into the distribution across the business segments. System sales grew by 16.1% year-on-year and 12.2% on a like-for-like basis to SEK 744 million. The development was driven by demand and higher prices, although somewhat halted by the extended delivery times that Magnus talked about. System revenues grew by 9.6% to SEK 174 million on the back of the growth in system sales. Managed Cloud Services declined by 0.8% on reported as well as like-for-like basis, where the growth in [Nordic and Central] was offset by decline in U.K. and West business units, driven by churn from last year then primarily. Consulting services declined by 2.4% following the divestment of the consultancy business in April and increased by 3% on an organic basis. Total service revenues amounted to SEK 541 million, which is an increase of 2.1% and 3% on organic basis, and made up 42% of the total revenue in the quarter. New cloud contracts of SEK 217 million were signed in the quarter, an increase of +50% compared to the second quarter last year, and are expected to start generating revenue later in the fall or later in 2026. Moving on to the top line development in the business units. Revenue increased in all business units except for U.K., driven by system sales together with growth in [Nordic] and Central services. The weaker revenue development in the U.K. is largely explained by lower system revenue, or system volumes, following price increases, but also an effect from last year's customer churn in Managed services, as mentioned earlier. Recurring revenue then, I think if we shift slide. Thank you, Christopher. Recurring revenue amounted to SEK 444 million in the second quarter, which is an increase of 3%, driven by customer support. Annualized recurring revenue increased to SEK 1,774 million in the quarter, which is equal to 37% of the total revenue. I think it's time to move on over to the results in the quarter. Adjusted EBITA amounted to SEK 105 million which is an increase of 38% year-on-year and equal to an EBITA margin of 8.2%. The solid earnings development is, as Magnus described earlier, a combination of increased sales and the effects from cost reductions and improved efficiencies, which is reflected both in gross profit and in general and administration costs. Business unit West and Central have improved profitability significantly compared to last year, and now hold a cost structure better adapted to the business, which is a result of last year's efforts and efficiency program. M oving on to the capital allocation and how we have utilized the funds that we generate. Started at a net cash position last year at, or by the end of Q2 2025 of SEK 100 million. Cash flow from operations last 12 months have contributed with close to SEK 450 million, which has been put in use through M&A. The Danish business mentioned last fall or last December, a dividend payout in Q2 2026, and shares have been bought back to a value of close to SEK 140 million during the last 12 months. Amortization of leasing amounts to SEK 121 million of the last 12 months, this takes us to a net debt position of SEK -12 million by the end of Q2, which then includes leasing debts. Total cash amounted to SEK 475 million by the end of Q2, to be compared with SEK 571 million by the end of Q2 2025. Proact has loan facilities totaling approximately SEK 800 million and consisting then of a EUR 20 million term loan, which is currently fully utilized, and a SEK 600 million revolving credit facility, which is currently not in use. I think that was it from me for this presentation, now back to Magnus for some closing remarks. Thank you, Åsa. To wrap up this before we start up with some questions. We had a good quarter. We grew both organic and also top line and bottom line. That's really satisfying. Also that we have done what we said and that the thing that we have done has also resulted in the expected result. I'm really also pleased with the work that has been done both in West and Central business units. We have a lot more work to do there, but we are on the right path here. At the same time that we continue to invest in U.K. and the Nordic area where we have a really good and strong position. I think we're also doing the right things here. As I also mentioned there, the memory prices and also the delivery times, the best prediction is that this will remain for a longer term, at least during the whole next year. Delivery times will be longer and longer, as you recall in the beginning, we have a lot of system sales and that means that this can vary a little bit throughout the quarter. As I said before, during Q1, we expect that the end of the year might be a little bit weaker. I still think that Q4 might be a little bit impacted, but it's really hard to predict around this because it depends very much on the delivery times and things like that. This is something that we will get back to during the coming quarter. Overall, and that is super important, is that the underlying demand and the business is actually going in the right direction. Of course, due to that we are spread around different geographical, the different countries might have different positions and the challenges in the market. Overall, the thing that Proact is working with, that securing data, making sure that customer can scale out, that is a very good spot to be in. I am also very glad that we are not an AI company delivering software because the thing that we are doing will not be replaced with an AI algorithm because we are enabling this. This is something that also every company is looking into. With that, I think I am really keen on providing you with more updates and foremost also to talk more around this with all of you on a Capital Markets Day later on this year, where we can do a more deep dive into our focus and priorities for the coming years. With that said, I would like to thank all of our great employees, customers and also shareholder for a fantastic good work during first half of 2026. All of us at Proact are looking forward to the second half of the year here. With that said, I think let us open up for some questions, comments. Daniel, please. Daniel Thorsson from ABG. Yes, perfect, Magnus. Thank you very much. I start off with a question on system sales and Q3 comments here. Can you quantify approximately how the longer lead times affected system sales in Q2 and potentially how much of sales were pushed into Q3? Should we therefore expect a higher or a lower organic growth rate in system sales in Q3 as a result of this? It is a really good question, Daniel, I will give you a generic example. One year ago, the delivery times was counted in weeks. As of today, the delivery times of standard components, especially related to memory components, are in the length of months. Of course, that creates this, where I also try to guide, it is a little bit difficult to project what will happen in the coming quarters here. With that said, we also know that we have a good backlog with us into Q3. As I said, the demand from our customers is still there, meaning that we will continue to sell. The big question is that when the system sales will be delivered. Exactly how this will play out, we need to come back to. I hope, I also feel certain around that, with the underlying fundament here is there. Also, with this said, as always when you have a situation like this in the market, we and also our customer are looking into other ways to handle this. Some of it is that we are looking into more services and utilizing our existing infrastructure and things like that. It's a good question, I think this is something. This I also want to be super clear upon. This is a global issue. This is not related to Sweden, Europe, or anything. This is a global issue. Every company on Earth is having the same sort of challenges when it comes to memory components and stuff like that, as it looks right now. Okay. That's clear. You mentioned the backlog here, you don't report order intake or order book. If we compare the backlog today than the one that you had a year ago when you closed Q2, can you say something about how much larger or higher it is today? I think part of it is true, Daniel. We actually try to guide around our Managed Cloud Service, where we present our TCV, total contract value. There we, as Åsa mentioned earlier, during this quarter, we had really good, strong sales when it comes to our services, and they grew with 50% compared to last year. When it comes to our system sales, we do not guide that externally. One of the reasons for it is also due to these delivery times. That is also important to understand, even if we have a committed delivery date sometimes from our vendors, that might change. Then we also, as a company, need to adapt and handle that. Right now it's a moving target, I would say. Okay. Fair enough. On the 12% organic growth in system sales in Q2, what's kind of the price and volume components in there? Are they both positive here, or is prices up more than that, volume is negative? How's the mix? It's skewed towards prices. Prices are the main driver, I would say. Also as mentioned by Magnus, the underlying demand is there, the main driver currently and also with the extended lead times of delivery, it is price. Also I think to put some more flavor on that is that this is the challenge for every company out there. Think about this, if you are a CIO running a company and then suddenly the price for your infrastructure and planned upgrades are becoming super much more expensive. That is a challenge. We are working a lot with our customer to see how we can help and navigate and find other ways around this. As I said also earlier, you can't avoid doing investment because as soon as you do that, then you expose your company for risk. Running critical infrastructure on old hardware is not a good and sound way of running a business. We are working with sometimes country super secure systems, and it could be healthcare and it could be bank and so forth, and you don't want to take risks when it comes to that. I can understand. A couple of more questions. One on the cloud order intake, you mentioned it. When I look at the first half of it versus last year first half, it's up 40%, it seems to be strong. Is this a positive trend shift you see in the market, or is it more a result of easy comps and a few larger orders impacting this? For us, creating and generating more recurring revenue is a priority, and that comes from our Support business, and it comes from our Managed Cloud Service business, and this is something that we will continue to focus upon. My strong belief is that if you focus upon something, over time you also become better on it, and that goes with us as well. Of course, when it comes to sales, there will always be variation between quarters and things like that. Overall, I think focus and also that we have a good and strong offering for it. Also think about this, that given that it's sometimes hard. Also prices have gone up a lot when it comes to memory components and also GPUs and stuff like that. Buying it as a service could be an attractive alternative also for some of our customers. We are really trying to meet our customer where they are so that we can work in finding the most and optimal solution for them. Okay. That's interesting. Related to that, services sales, they grew 3% organically here in Q2. Is that sustainable also going forward, or are there any backlash risks here related to a potential lower growth rate in system ahead? How should we think about the services revenues as a whole? I think we have a good momentum, now your question is more about guiding in the future, Daniel, and we try to be as good as possible at it. I'm also quite keen on not guiding too much. I think in general, the offering that we're doing and the momentum we have is on a good path forward. The thing that we need all to be having in back of our head is the delivery time and how that will impact. As I guided before, I think Q4 might be a little bit weaker, but that we need to come back with in incoming quarters, I would say, because then we know more, and we also know how the market have developed. What is important for me is also that we continue with the work that we have started so that we continue to improve and create momentum in Central and West. There we have a plan, and we are following that. I would say that is some of the key focus areas for us. Yeah. That's fair. The final question on the organization here. Number of employees are down roughly 200 people year-over-year versus Q2 last year and the quarter. We all knew the programs you have gone through. Is this the trough level, you think, given that you are back to growth again now, or should we expect this figure to come down somewhat more in 2026? I think we will now, Daniel. We are more into growing our business. With that said, we are always looking into how we can do things better and smarter and things like that. We do not have any plan to communicate or do any more formal cost- efficiency programs. I think from a number of people, we are on a good level, but I would rather say that with the fantastic, great team we have, we as a company can do much more. I would answer your question in that way. Perfect. That's good enough. Thank you very much. That's all. Thank you. With that, Karl Norén. Please. Hello, can you hear me? Yes. Yes. Hello. Just a question on the U.K. I noticed that system sales there were a bit weaker and also the Cloud services. Can you talk a little bit about the development there and if you see any trend shifts and what you're doing to turn the trend? That's a really good question, Karl. Let's start with the Systems business. As I also tried to explain in the beginning, this is important when you're following Proact, is that our Systems business is really dependent on when we deliver the stuff. That means that if you compare quarter- by- quarter, it could be varying depending on when the actual delivery happening. Part of the solution in U.K. is that this quarter, we were not super strong on system sales. If you also look into, or maybe I also mentioned it also, when it comes to services, U.K. team did a really great quarter selling new services. We have a lot of high TCV. The thing to monitor there is that it will take us four up to maybe two to three months to get a new service up and running at the customer. It contains often hardware, and you need to do an onboarding and things like that. When it comes to recurring revenue, as Åsa mentioned, the impact of that, we will see later this year. At the same time, if we are losing a customer, we often have long contract, and it also takes a lot of time to off-board a customer, meaning that the thing that we see in U.K. now, that actually contract ended maybe a year ago. It's a long drag when you look into it. The most and earliest good indicator you can see and look into is the TCV numbers, because that indicate our future sale. That's clear. Thank you. Just a question on Q4 as well. I think you mentioned that it looks like it can be a bit impacted, is that mainly driven by that you have a hard time getting supply, or is it that you don't really see that long in the future in terms of demand? I think the key thing for Q4 is most likely delivery times, as I also mentioned earlier now, if the delivery times are counted in month, that means that everything we sell in Q4 might slip over to the next year, just pure mathematics and the delivery times. Yeah. That's one thing. You know that we also had a very strong Q1 with some pre-buying. That I think I'm a little bit less concerned with now because I think more and more customers realize that the high memory prices is not a short time off. It will remain. I think what I talked about in Q1, that it will be pre-buy build impact, we still have it, I think it has been normalized a little bit. I would say that the delivery times is probably the one that we should look after. Okay. Yeah. I have one final one as well on the revenue. What is it? The customer base. I see that you're growing, or basically all of the growth is coming from the public sector this quarter, I think. While the private sector is a bit slower, at least it looks like it. I'm just wondering a little bit the reasons behind it, and if you see private sector growth coming back or improving here in the coming quarter. There is no real trend that we are seeing. Public sector is a focus area for us. For example, in U.K. and also in Netherlands, and also in Nordic. It's basically in all our business units. We have a strong foothold there, and given some of the economics in each country, also the public sector are investing a lot. Specific for this quarter, I don't see any trends, or I think it's more just the timing impact, I would say. Okay, great. Good luck and have a good summer. Oh, thanks a lot. Same. With that, do we have any more questions from the audience? I would like to once again wish all our employees and customers, and also shareholders, thanks a lot from us at Proact. We are really looking forward to give you more updates coming quarters and also talk more around our plans and the things going forward in our upcoming Capital Markets Day later in the year. Once again, thanks a lot, and have a great summer, everyone, coming up. Bye