Good day, and welcome to the Permascand second quarter 2022 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note that this event is being recorded. I would now like to turn the conference over to Peter Lundström. Please go ahead, sir. Thank you, and welcome to our quarter two earnings release call. It is with great joy and with a big smile that we are today presenting. We have really achieved something. It's a milestone in the company history, and we have the best results, the best sales, increased deliveries, and we are really building something for the future. We're delivering results. We have a high activity level, and the company is growing every day. Together with me today, I have Linda Ekman. She will go through the financials. Before we get into it, I move into page three. We do a small wrap up of what Permascand is about, what we are working on, just to make sure everyone is on board where we're heading. We have a clear vision. We have a clear mission. There is absolutely no doubt what we're going to do. Every day from now on, we have an agenda. We have kind of our strategy and the mission. That's clear. We're aiming to be the leading independent global supplier of electrochemical solutions. This independency for us, we think is something very important to protect, and it's also something that we get good feedback from our customers, our clients and future customers that this is important for them, that they have someone they can trust and that have big knowledge in this electrochemical world. It's a little bit a small business in the big world, but it is very complicated, and you need experience. After all, if you would like to produce this on a large scale, you also need to be very industrially equipped and experienced. For us, innovation is key. Our number one, we really need to be innovative to be able to be competitive for our customers and with our competitors. We are living out our kind of technical standards, and that we are a good company in finding ways of producing our products for our customers. We have decided that the focus areas for us, the future focus areas, where we are spending a lot of time today and where we are investing is of course in the Electrification & Renewables areas, driven by the green transition that is going on all around the globe, and that we believe will be the future. Hydrogen is of course the primary driver, and where we see the big growth coming for the future. Industrial Solutions, I mean, that's our backbone. It's an aftermarket service. That's where we have our strong foundation, which we're building all the other segments out from. We have Water Treatment, which is in the middle phase, in the certification and deliveries, installation. It's supposed to be around 25, 26, when it's supposed to be coming into the end and starts to be an aftermarket and service business. If we move into page four. We're working a lot in the company to kind of find a very stable and also a very trustful process for how we should work, where our focuses are, and what we like to kind of convey to the market. It's for sure the sustainability and the development. It is kind of the key wording for Permascand. I mean, everything we do, we're supposed to be a little bit better every day. Supplying, supporting customers, clients in a better way. At the same time, to make less footprint in the environmental sector. These two are hanging together, and they go already from the sales sector into the production and of course into the aftersales. This is really something fundamental for company, where we're building kind of our strategy around and where we will deliver into the future. It's all about the sustainability, and it's all about how we can develop better products, better support, better production methods, and also develop the whole organization to meet these demands for the future. Moving to number five. We said it many times before. I mean, it's like a pyramid. We like to describe our business and what we do and where we put focus on. The technology platform is like the pyramid. You have the catalytic coatings that's like the black box in our business and in Permascand. That's where all the magic is happening, where we are making a difference to the customers and to the environment. It goes into electrodes, and it turns up into the complete electrochemical cells, which are installed at customer facilities. Then it's all about how we can refurbish, how we can service this over and over again without adding new materials at all times. It's kind of a recycling step. It's very important that what we build from the beginning is we are able to service it, and we are able to reuse it into new standard when it's time for it. Number six. When we're talking about our industry and electrochemical solutions, I mean, it's for the customers, it's very important to lower the energy consumption, to have a long lifespan for the products, and also have a very cost-efficient production with high reliability. Every time they need to stop, they lose money. For us, it is all about how much can we lower the energy consumption, how much product can the customer produce? When do they need to service to get a good standard of it, and what is the cost, the lifetime cost and the reliability in that. We do it through the three circles above, which are around the coatings. They are really, really important how we are applying and how we're kind of constructing the surfaces for leading the electricity in the best efficient way. It's all around how we are pre-treating and how we're kind of handling the materials before we do it and afterwards. Then it's about how do we assemble this. How do we manufacturing our products, putting it together, and how are we making it possible to do service and to kind of reuse the materials over and over again. It's about R&D, it's about the product applications, and it's about how we can scale our manufacturing. We have said that we are a company that has invested a lot into scalability. If we look at page number seven, that's a few snapshots of what we have invested in over the last years. We have been well-recognized for our investments and how we have shown our scalability through automation and robotization. And we also see the payoff in our quarterly results. We have all-time high margins, and we have all-time high results, primarily from the way how we're operating and how we assemble and manufacture this. It's a scalable production facility, very modern, and we are, of course, moving from where we are today and going to continuously improve our ways of operating. Number eight, that's a cross-check. Are we following our strategy? Yes, we do. We are winning new customers across all segments, and this is the goal and aiming to grow in our aftermarket and service business. We do it, we did it in quarter two, and we will continuously doing that. It's all about how we can continue improving our kind of ways of operating to be attractive to the customers. If we take the Water Treatment, that's the kind of a market that is in full swing. It's new build, it's installations, it's driven by legislation, and we are in the middle of it, and we are really just supporting our customers and clients and making sure that they are going to be successful now when we're turning it into the last contracts that are on the table for winning. We have in the middle, that's where we're spending most of our time today, developing and showing the greatness of Permascand and driven by the hydrogen sector, which we are likely to capitalize, be part of the new build to secure our aftermarket and service business in the future. We have the lithium business. We had kind of a negative announcement earlier in quarter two that one large project for lithium extraction has been canceled, or it has at least been not in time set for the future, and we decided to write down that order, SEK 63 million. We hope it will restart when there's more stability in the world and where we also see that the price has started to meet the customer's expectation for the future. Industrial Solutions, no doubt, very good business, chlorate and chloralkali, aftermarket and service. We are gaining shares in primarily North America. We are increasing our performance, and we are increasing our customer support. We are establishing ourselves more into these areas, which we believe will benefit the future and the goals that we have going forward. Number nine, before I hand over to Linda, I'd just like to say, I mean, there is record high sales, and we're showing continued strong profitability. We had a good order intake, if we look at the gross order intake compared to last year. We had SEK 67 million versus SEK 41 million, so we have a good growth, if we compare to last year. We saw that there were some hesitations around in the customers due to the financial climate and the global economy. We also see that the tendency is that orders are slightly smaller. On the other hand, we then need to get them more often. We all can also see that there seems to be going on now a little bit shorter trend for customers. They are more expecting quarterly pattern, maybe than on a yearly pattern that we have been a little bit spoiled maybe in the past years. I think it is just the climate in the globe, the pandemic and also the financial climate at the moment. There is little bit more short cycle than has been in the past. I mean, all-time high revenues, the gross profit is really showing good progress. We get really payoff from the investments and all the hard work that the people are putting in, and I mean our adjusted operating margin. I mean, it is better than actually our financial guidance. We kind of continue our journey that we were presenting when we went into a public company. We are kicking it off and making adjustments to make sure that we are keeping pace with the market and the expectations. As I said, this is the strongest quarter in company history. We have, for the first six months, done the same amount of revenue, double the results since we had for a couple of years ago. There is no doubt that we have made good progress on our journey. We see that customers, despite the fact that someone will say that orders are not keeping up with your sales and will you continue to grow the company. We have no doubts that we will see orders coming into Permascand because we have also record high activities from projects and existing customers and new customers that would like to explore our products, our competencies for the future and [i'll talk to Perry] for the commercialization in both water treatment and in the hydrogen sector, but also in the Industrial Solutions. I leave now for Linda to take over and run through some of the numbers, and then I will come back. Thank you, Peter. Of course, it's really, we are really proud to present this quarter, the second quarter and also the first half year of 2022. In fact, this is the third quarter in a row that we have really felt that, we are showing what we have said that we want to do. From the fourth quarter to the first quarter 2022 and now the second quarter 2022, we believe that, the numbers and the figures will support what Peter has said, that we are on a journey, we are on a growth journey, and now the sales are coming. We deliver according to plan. We also have a stable, cost-efficient operation, and that makes a good result as well. For the second quarter, the sales reached SEK 163 million. That's 33% up from the same last year. The sales is split at 63% to Water Treatment, 31% Industrial Solutions, and 6% in Electrification & Renewables. This is our three segments. I will go into a little more detail of the characteristic for them later on. First we look at the totals, and as Peter said, we are aiming for our financial targets. Some parts we even exceed them, but we believe that the plan that we set some years ago is what we are delivering on right now. The new order intake is SEK 67 million, but as Peter explained, we had a write-down of SEK 63 million of an old order. That makes the net order intake SEK 4 million. The write-down was not planned. That order was not planned for 2022, so it will not affect this year's revenue, but it was planned for years to come. That leaves us with an order book value of SEK 362 million. We get a lot of questions about that the order book is lower, but we believe that it's an adjustment to market conditions. The customer have a shorter horizon. They move away a little bit from maybe very few, very large orders to placing smaller orders, but more often. I think that is what people see. It can be explained like the turnover time for the backlog is faster now. We shouldn't be too hesitant about that. Cash flow is really high. In the quarter, we had SEK 58 million cash flow from operating activities. That has to do with a high level of invoicing and deliveries and that we have customers that pay on time. We reached 28% adjusted EBIT margin, that's 25% year to date, and 25% is also the financial targets that we aim for. We should note and remember that there are some FX effects including in this quarter. As you know, both the dollar and the euro rates were really high some of the weeks and the months in this quarter. It's a little bit boost from that, but still we are delivering as planned. Earnings per share SEK 0.58, and for the half year, it's nearly one from SEK 0.98. I think we can move to the next page, look a little more into the details per segment. Just a little background, what these segments are about. The first one, Electrification & Renewables. That's many new customers, many new projects. It's volatile, both according to order intake, sales and margin, because it depends on the customer's commercialization phase and what phase the products are in. But it's both recurring and new customers, but mainly in new sales, I would say. Electrification & Renewables had an order intake of SEK 24 million before the adjustment for the old order that we had. The net order intake is SEK -39 million. Sales SEK 10 million. Year to date, we have SEK 15 million sales. Gross margin is 49%, year to date 45%. As I said, that can be a little bit volatile. Out of the order backlog, the SEK 362 million in total order backlog, the Electrification & Renewables has SEK 72 million. 20% of the order backlog is for Electrification & Renewables. This is the smallest segment today, but we believe that this will grow in the future, primarily driven by the hydrogen market. Our segment, Industrial Solutions, that is our history, what we have been doing for 50 years. Mainly recurring business, refurbish and aftermarket service. It's customers that have been working with us, many years and they are recurring, so they come back and keep developing together with us. For this quarter, we had an order intake of SEK 32 million. We had sales of SEK 50 million and a gross margin of 54%. That's a improvement in gross margin. That is some specific orders. It has to do with the product mix, and also that we are available. Industrial Solutions is also, for this quarter, affected by the high U.S. dollar FX rate, so that we get paid for the revenue. Yeah. The order backlog for Industrial Solutions is SEK 194 million. Out of the total order backlog, Industrial Solutions has 54%. We have the Water Treatment. This is our biggest sales right now, the segment with the biggest sales. In this segment, we have recurring customers, but also some new customers. It's mainly new sales. It's driven by the installation of the ballast water cells. In this segment, we have seen two years effect of COVID, but as from the late in the year 2021 and in the first quarter and the second quarter 2022, we really see that the Water Treatment is speeding up again. Out of the installation phase from the re-regulation, we saw that maybe 46,000-50,000 vessels was to install a ballast water cell. Left on that market now is between 10,000-12,000 vessels, maybe, and it's really high competition for those final ships. We also noticed that there is the price pressure. We heard from our customers that it's really high competition right now. Still we have really high sales. In this quarter, we have SEK 103 million. Year to date, it's SEK 202 million in Water Treatment. We have a gross margin that slightly go down a little bit to 29%. As I said, it's a little bit adjustment to the market condition, and the pressure there is right now. Out of the backlog, Water Treatment orders stand for 26% or SEK 96 million. Let's move on to page 11. Here I'll leave to Peter again. Thank you. This is, I would say, an operational highlight for quarter two. When we went to the stock market last year, in our IPO process, we were quite clear that the focus for us in Industrial Solutions is the aftermarket and service business. We did not expect high growth numbers. It's quite traditional. It moves with the gross domestic numbers. We have seen during this year, we also hear from our customers that they do have an increased demand for the product. We received a new factory build, Greenfield, in quarter one, for a completely new factory. Then now in quarter two, we have received an expansion of an existing factory. Even though this is a more mature segment and a more mature market, we do see increasing capacity needs in this industry. It is driven by this whole thing that is going on in the world. Everyone is going into supporting the green transition and their products they see a higher demand for it. For us, it is of course very important that we are winning these orders because that is of course a market share increase. We are looking forward to the long relationship and serving them for a long period of time in the service industry and making sure they are really efficient and that they are successful in this. Hopefully, they can expand more into the future. This is a little bit not what we thought a year ago was going to happen in Q2. We are successful, and we have the greenfield in quarter one, and now we have the brownfield and we are working on more plans into the future. I think we move into number twelve and continue with the financials and the strong cash flow that we're showing in the quarter. Yes. Thank you, Peter. As you all can see, and as you know, from January, Permascand has had a very strong cash flow. We have generated cash with high operating income. We have high deliveries and sales, which means invoicing, and we have customers that pay on time. That means that we get a good flow. We also have a plan for investments, but we are still in an early phase of the investment. It doesn't affect cash already, but we know that it will come. In this quarter two, we have spent SEK 13 million on investments, but we are building a cash position now to be able to continue on our strategy. Something else that we have done in this quarter is that we have paid down the use of the credit facility. We have used some of the cash to pay back to the bank. What is left now in the balance and the loan is CapEx loans. We leave the quarter with a very strong financial and cash position. Move to the next page 13. Here we have set some of the quarterly results in kind of a longer perspective. We look at our position from a 12-month perspective to see where we are. As you can see, all numbers are following our plan and plotting in the direction for growth. Starting with revenue development, driven by the Water Treatment installation and then the kind of take back of the shutdown and the lockdowns that have been during 2020 and 2021. We now see that the Water Treatment and the ballast water installations is really speeding up. We are now at SEK 508 run rate for revenue. If we move on to order backlog, we have explained that already in this presentation. You know that we had a write-down of an order of SEK 63 million, and also that we kind of see that the turnover from the backlog is higher and that we see that we have fewer large, very large, long-horizon orders and we have more of the kind of short-term and a little bit smaller orders. What's really fun to see is the gross margin development. We reached 38% in the quarter, and that in a 12-month period, we are up 37%. And that is the successful integration of the optimization and the improved production process that has led to this strong development. It's as we have said many times, our process now is really scalable, and when we can run on high levels, we get the good results that we show here. Of course, with the strong growth margin, we also get a good EBIT development or the operating results. We have set an organization that the overhead does not increase as much when we grow. We are scalable. We are now at 24%, and we have an adjusted result of SEK 122 million. Remember that it is a little bit boosted by the FX effect. We have SEK 9 million in Q2, but still, the trend is very clear that we are improving our results. We should remember that in this operating result, we have actually taken costs for the future. We have some recruitment. We are investing in OpEx as part of the strategic plan for the technology center that we are building. We are already aiming for the future and taking costs for being top of the line in our segment and in our knowledge. We move on to the next page, 14. Permascand's balance sheet is pretty straightforward. We are growing in line with sales growth. It follows our spend. We have invested, so we have some increases in intangible assets. We are also have higher inventory, which means that the non-current assets is also increasing, and customers' deliverables as well are high. Looking at the equity side, the equity is increasing due to the positive results that we have. I've mentioned that we have less bank loans, given the strong cash position that we have. We have managed to pay back some of the credit facilities. Also we have some current liabilities, and that is primarily suppliers and also prepayments from customers that have been high in this quarter. This is a balance sheet that really has the possibility for future growth. With that said, I'll turn to the next page 15, and give back to Peter. Okay, thank you. Let's wrap up and do a short summary of the quarter. I mean, this is again the best quarterly performance in the company history, and we have 51 years or 50 years of comparison. We're making SEK 163 million in the quarter, and if we move back when I joined Permascand in 2015, we actually made SEK 298 million for the whole year. That's of course a huge development that has taken place over the past seven years. We have now proven concept for our strategy and how we have implemented it and how we have spent our investment money. We could see it in the profitability, we see it in our profit margins, and we have a really strong foundation for the volatility that might continue in the world. During the last three years, it has not been easy to be efficient and to be really good in turning orders, sales into dollars, SEK, and making good profitability development during this period of time. We have proven that we are very capable of running our operations and running our companies even in very difficult situations and building for the future. We have a very strong customer community. We have a lot of new customers coming in and we have a lot of activities going on internally, with the company and together with our customers who are the provider of the technology for the end customers. This is the foundation for strong order intake. We believe and we hope that this will come and show in our books in the coming quarters. We see that there is a challenge in predicting the market development. It has been very, very expensive, it has been long lead times, it has been complicated transport solutions, and also of course, investing and financing all these projects have kind of had a little bit of a halt in quarter two. We believe now that it's turning more into the favorable side for the customers and clients and for us, going forward. We are moving on not only financially developing, we're developing the whole company and we have said that the competence and the technology and the innovation center that's really going to be a backbone, a center of kind of universe for Permascand, going into the future, primarily then for green hydrogen. Everything we are developing and finding out in green hydrogen, we will of course try to utilize in our other segments and improve those products and the customer's efficiency from that. It's moving along. We are really doing what we are, and we are going to start to build the next generation of test lab and R&D facility in September-October timeframe. It's supposed to be ready and announced in the beginning of next year around summertime. Everything is moving on as we have said and it's really good from that perspective because this will be something really good for the future that will keep Permascand in the forefront for development and serving the customers. Looking into the future, I mean, there is the potential of this Electrification & Renewables. That's again where we are putting a lot of our efforts into. That is where we're building the competence center. This is where we are really focusing on. There's no doubt that, despite the fact of all the global world and everything that is happening, the green hydrogen is moving forward, it is advancing and the plans are more intensified for commercialization's. We see now that our customers starts to announce their plans for deliveries and starting up the production, which then means that our customers are getting into the shape of starting to order the products that they will need in the future. It's not going slower than we expected. It seems to go actually faster than we expected. This is a market where many players needs to put their efforts in to be able to supply what the model is going to be in the future. I think that's a good summary and wrap up. We're looking forward to the rest of 2022 and I can already today say it's going to be the best year in the company's 51 years history. There's no doubt about it. We continue with our strategy, with our activities. We always have had a lumpy order intake, a little bit coming and going, but that's how our business is working and that is how we are operating since we are project-driven and we are looking for the commercial kind of hit where we can add our large-scale manufacturing abilities into it and grow from there. I think I stop there and we can start Q&A tech session and see if there are any questions or comments that we can answer. We will now begin the question and answer session. To ask a question, you may press star then one on your touch-tone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star then two. At this time, we will pause momentarily to assemble our roster. Again, if you have a question, please press star then one. As there are no questions, this concludes our question and answer session. I would like to turn the conference back to Peter Lundström for any closing remarks. I think I end with thanking everyone that has listened in. The next quarterly report will be November 11th. We are of course looking forward to that session and hopefully we have a lot of good news and announcements to make on our journey. I can assure you that we will work hard from now on to that period to make sure that we are following our tracks and that we are doing the activities that we have said we will do and work hard for the future in building a very strong company that will grow for many years and decades to come. Thank you everyone and I wish everyone a good day. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.