Hi, and welcome to the presentation of Qliro's Year-End Report for 2020. I'm Carolina Brandtman, the CEO of Qliro, and with me as the presenter, I have Robert Stambro, CFO, and in the room we also have Andreas Frid, Head of Investor Relations. I will start by giving a brief introduction to Qliro before we get into the Q4 results and highlights. Next page, please. Qliro is a tech company offering payment solutions in the Nordics and digital banking services in Sweden. We were founded six years ago by the, at the time, largest e-commerce group in the Nordic. Back then, there was a need for a payment provider who listened to the needs of the merchants and developed the products and services based on the needs of merchants and consumers. With that purpose, Qliro was founded by merchants, for merchants, and that's deeply ingrained in our DNA. We offer our payment solution and pay after delivery or buy now, pay later products across the Nordics, and personal loans and savings in Sweden. Since day one, we've had almost 5 million customers using our services, and today we have more than 2.5 million active customers who frequently use one or more of our products. With tech data and customer experience in focus, we have been improving our position in the market, and today we are the number one challenger when it comes to payment solutions for larger e-commerce merchants in the North. Please turn to page three. We offer a payment solution that adds value for both the merchant and the consumer. The most common way for the merchant to integrate is with our full checkout solution. That is the way the customer gets in contact with Qliro for the first time in the merchant's checkout. That is what you see on the phone to the left. The checkout is developed to optimize conversion and to maximize the convenience and transparent customer experience. At the same time, blend into the merchant's site. Qliro Checkout offer both before and after delivery payment methods. Before delivery with direct payments and card payments through partners. Pay after delivery with invoice, buy now, pay later products, and fixed and flexible part payments that we offer ourselves in the Nordics. These are the payment methods that we refer to when we talk about Qliro payments, which is the part that gives us our income. Our target area is the Nordics, and that is where we offer our pay after delivery product together with other payment methods. The Qliro Checkout can also be offered to our merchants that are growing outside the Nordics. Today, we don't offer our own products or have an income or significant income related to these transactions, but we make sure that our merchants can sell in those markets. It's a service where we support our merchants that have a reach outside the Nordics. In some markets, we offer an invoice product as well together with a partner, but it's not on our balance sheet. Qliro Checkout is today able to process payments in more than 30 markets and have localized language in six markets outside of the Nordics. We acquire all of our customers through the checkout, so when someone chooses a pay after delivery product, they become a Qliro customer, and then they're welcome to our new digital platform, which is now available in the Nordics. As a Swedish customer, you can handle all your payments, convert them to a different payment method, pause the payment while you're returning a purchase. You can change payment dates, you can connect your bank accounts to make sure that you always do your payments in time. We notify and remind you before your payment is due. The digital platform is where we interact with our customers, and we want to offer suggestions and products that are of relevance. Currently, we process loans and savings to our customers in Sweden. Since the launch of our new platform during 2020, we can also integrate other financial products through third-party providers in an easy way. We've chosen this strategy, as we don't think it's efficient to develop all products ourselves. By offering a larger range of products, we create more relevance for our customers without having to develop everything ourselves. It provides flexibility, and it lowers the risk. During 2020, we launched a cooperation regarding insurances, and we have now integrated a sustainability initiative related to e-commerce, that's something I'll come back to later in the presentation. With that, we leave the overview section to look into the Q4 highlights and numbers. Skip to page five, please. Two pages. I'm pleased with our financial and volume development in Q4. Our income growth was 14%, with contributions from both our major segment payment solutions, but also a steady growth in the digital banking services segment. The drivers increased volumes and transactions. When compared to the historical pattern for income, we were helped this quarter by the fact that the consumption peak was a bit earlier than usual because of an earlier Black Week and an earlier Christmas shopping, which meant that more income related to these peak volumes were recognized in the fourth quarter, compared to usually being recognized in the first quarter of the coming years. We have, during 2020, been conscious with our cost development while we still continue to invest in our checkout solutions as well as our digital platforms and organization. I'm pleased with the results this quarter as we've been able to maintain a stable level when comparing to the same period in 2019, even though we ran the business with higher volumes and continued to develop our payment and consumer platform. Our credit quality continues to be stable and during the year we haven't seen any general deterioration in the willingness or ability to pay, and I'm pleased that we have kept our underlying loss ratios below the guidance that we had pre-COVID-19. Q4 is usually our strongest quarter when it comes to payment volumes, and this year was no exception. Total PAD volume increased with an impressive 26%, reaching more than SEK 2 billion, the number of transactions grew with 37%. This is a result of both organic growth from our partnerships prior to 2020, but also with a large contribution from our new partnerships that were onboarded during the year. I'll drill down a little bit more into this later in the presentation. Next page, number six, please. Our partnership promise to our merchants includes that we always want to be in the front with our technical solution and deliver a value to the merchant and a great experience for the customer. Therefore, we constantly develop our payments platform and Checkout to deliver on that promise. When we integrated the shipping in our Checkout a number of years ago, we were the first in the Nordic market. Now through a partnership with Unifaun, we improve that integrated solution further. To have the most relevant shipping options easily available for the consumer is important, with this solution, all relevant choices are integrated for the merchant, the merchant just need one integration with Qliro instead of having one integration with us and one with every logistics partner. This service, together with the flexibility we already deliver for how the merchant wants to provide shipping with the ordering or how it's presented, is of great value for the merchant. We have also during the year been successful in signing major eCom brands such as CAIA Cosmetics and others to add to our merchant portfolio. During the fourth quarter, we signed an agreement with the Nordics giant, Biltema. Biltema has an impressive growth, which historically have been focused on physical warehouses. In the beginning of 2020, they started to focus more on eCom and launched their click and collect and click and drive-through services. In this journey towards larger focus on eCom, they searched for a new payment partner to support them in this transition, and we're super excited to be their preferred choice. The ambition is to start the rollout in the end of Q1 and then continuously roll out the services in the different markets in the Nordic, which takes us to the next page. The next page, number seven, please. In Q1 2020, we launched our updated consumer platform in Sweden with substantially improved the customer experience in handling payments, loans, and savings. The new platform, which has a new and improved design, allows for personalization towards the customer and makes it easy to integrate partnership offerings through third-party suppliers. We have now launched a similar app in all our Nordic markets and also on logged in mode for qliro.com, which is based on the same foundation. To have the same platform in all markets simplifies updates and increases the efficiency and speed of which we can do updates and launch new services. The app has been a big success in Sweden, and the fact that we now have made improvements in the other Nordic countries is important, both for the customers and in our discussions with merchants, as the customer experience after the purchase is higher on the agenda for many merchants as well. Next page, number eight, please. Besides customer experience, data, and tech, sustainability is a focus area in Qliro strategy, and we want to make an impact. We believe with our position between merchants and consumers that we can contribute to drive the change towards a more sustainable eCom. We work with this on multiple levels. We try to influence the market through seminars with sustainability themes. During the fourth quarter, we joined the initiative, sustainability, and freedom, which is a market initiative within eCom to share knowledge, to inspire, and drive the change in different focus areas. We also try to influence the consumer directly. Through the newly launched the Qliro Smart in our app, we start with addressing the returns, which is a pain point for merchants, for consumers, and for the environment. With the Qliro Smart, our customers will gain information on how their returns affect the environment and through different quizzes, customers can get information on how you, as an eShopping consumer, can make more environmental-friendlier choices when it comes to for example, logistics or returns. It's not about making people feel ashamed, rather to educate and inspire on how you can act to lower your carbon footprints. This is the first step for us, as we really believe in the concept of spreading knowledge to customers and merchants regarding how you, through informed decisions, can make more sustainable choices, we look forward to continuing this journey. Next page, number nine, please. More merchants lead to more customers using our services, during the last 12 months, we've had 2.5 million unique customers using our services more than 7 million times. This is an increase with 400,000 customers. As you can see from historical development, this is an increased growth, which gives us more data and more relationships that we can develop. Our digital platform, as we discussed earlier, is becoming more and more popular, which increases the efficiency and improves the experience for the customer and also connects the customer closely to us. As you can see from the graph on the right, which illustrates the development in number of logins in our Swedish app, those interactions increased with almost 50% year-over-year. It is with these interactions that we build even more knowledge to continue to offer even better services and insights to merchants and customers. Next page, number 10, please. Before I hand over to Robert to drill down a bit more into our financial development in the quarter, I'd like to share a bit more data regarding how our pay after delivery volume has developed during the quarter and increase the transparency around it. Our previous Qliro Group brands, CDON and Nelly, is our largest merchant relationships and two really large e-com players in the Nordics with exciting growth potential. As we've been successful in attracting new merchants during the last year, the share of volumes from our former sister companies has decreased, and other merchants now represent 57% of the total volumes, compared to 45% a year ago. Looking at the right-hand graph, we are really pleased to see the volume growth of 26% year-over-year. This is a result of growth in volumes outside previous Qliro Group, as well as the successful onboarding of new merchants in 2020. What we illustrate in the graph is the nominal growth in volumes between fourth quarter 2020 and fourth quarter 2019. If we start on the left, external merchants, so merchants not part of Qliro Group that were live prior to 2020, has a growth level of 33% and represents almost 50% of the total growth in our PAD volume. There is a strong growth in e-com in general, and something that we clearly see when looking at our merchant base as well. The next bar represents merchants that we signed and we went live with during 2020. In fourth quarter, they represent 15% of our total volume and more than 70% of the total growth in volume is coming from this side. The churn is Saco Bia who left us in the first quarter 2020, and that impacts the growth negatively in comparison. Next page, number 11, please. With that, I hand over to Robert to drill down on the financials for the fourth quarter. Thanks, Carolina. Next page, number 12, please. Let's look at the financials and primarily focus on the Q4 figures. As you know, the last quarter of the year is the most shopping-intensive one, and this Q4 was no exception and delivered a strong 19% lending book growth and a 26% PAD volume growth, which in its turn resulted in an income growth of 14%, driven by a solid development in both our segments, payment solutions and digital banking services. As mentioned in the Q3 presentation, costs will increase in Q4 due to higher customer activity. In comparison to the fourth quarter 2019, the cost is kept more or less flat, although we processed more volumes on our platform this year. We are coming in under the previously communicated guidance in terms of credit losses, and we do not see any signs of deterioration in credit quality. The 17% reduction in credit losses year-over-year are explained by one-off last year connected to the selling of non-performing loans to implement a clean balance sheet strategy. Next page, number 13, please. Let's turn our eyes towards the segments and start with payment solutions, that stands for 84% of our income generation. Volumes processed on our platform grew with 26% in the quarter, which is the strongest growth rate in more than two years. Worth to pinpoint here is that the volume came in relatively early in the quarter this year than compared to last year. This contributed positively to the income growth rate in the quarter. Consequently, the relative income boost in Q4 2020 will have the reverse negative effect in Q1 2021 when comparing to Q1 2020. Operating income grew 10% in the quarter, which is slightly slower than the loan book growth of 13%. This is caused by the headwinds from the regulations, as mentioned in the previous Q3 report. Operating income margin therefore decreased slightly, however, still being at the high level. Loan loss level are below the withdrawn pre-COVID-19 guidance and no deterioration in credit quality has been identified. Next page, number 14, please. Let's focus on personal loans during the quarter. The income growth reached 39% and the loan book grew with 29% year-over-year. As mentioned in the Q3 presentation, when it comes to new lending within personal loans, we have chosen to be a bit more cautious in our underwriting due to COVID-19. We also see that the demand has dampened somewhat, and the growth during COVID-19 has been around 5% quarter-over-quarter. We have successfully grown the book during the period with a higher margin on new lending compared to the portfolio margin without increasing our risk appetite. Our operating margin has grown 30 basis points year-over-year, reaching 7.2%. Worth to mention is that we have kept the operating margin level flat quarter-over-quarter throughout the entire 2020. We continue to see good opportunities to grow our lending book as we attract more customers through our payment solution and increase the digital interaction with them. As with the payment solution, we apply the clean balance sheet strategy, meaning that we sell off non-performing loans to debt collectors under forward flow agreement. The underlying credit quality was stable and no negative effects on customers' ability to pay was noted due to COVID-19. Next page, number 15, please. We have a stable cost development although processing 26% higher volumes in the quarter. As you know, payment solution is a seasonal business and especially in the shopping intensive last quarter of the year. We have events like Black Friday, Cyber Monday and Christmas, which drives merchant sales and thereby our volume and consequently variable cost. Apart from that, we have to some extent additional cost of being a listed company. The quarterly year-over-year cost growth is 1%. With that said, we will continue to invest in our organization and platform the coming years. Our ambition is to grow income faster than cost over the year, there may be variation in timing between quarters depending on seasonality and the timing delay between volume and income growth. Our cost base is to the majority built up by fixed cost, leaving good room for scalability and leverage in adding more volume to our platform. Next page, number 16, please. Let's take a closer look at the credit quality and let's start with payment solutions. Historically, we have had volatility related to sales and write-downs of portfolios not included in our continuous sales agreement and the implementation of our clean balance sheet strategy. In the adjusted graphs, we have taken out these effects and extra provisioning we now are having due to COVID-19. The credit loss level was unusually high last year, same period, and that was connected to the last step in implementing our clean balance sheet strategy. Meaning that we sold and wrote down assets in Q4 2019. Today, we have a very limited exposure of lending to customers that are not part of the continuous sales agreement. The risk of volatility from these kinds of portfolios are low. The underlying credit quality in payment solution has therefore been rather stable the last quarters reaching 1% in Q4, which is below our previous guidance of 1.25 over volumes and better than we performed in Q4 2019. Let us focus on personal loans. The adjustment that you see is due to the provisioning for worsening macro environment, summing up to SEK 3.5 million during the year. Q4 2019 and Q1 2020 is all about timing, and the two quarters should be viewed upon as one. Given that the credit quality in personal loans is stable year-over-year reaching 2.6% in Q4 at 2.2% for full year, excluding provisioning for worsening macro environment, which is lower than our previous guidance of 2.5% over net loan book. To sum up, we do not see any worsening credit quality in our books. The underlying credit loss level is under the previously communicated target, both in payment solution and in personal loans. Next page, number 17, please. Before I hand over to Carolina, we should have a look at capital and liquidity. In December and the day before Christmas, the European Commission decided and enforced a new treatment on how much intangible assets that should be deducted from equity when calculating the capital base and how much that should be rather risk-weighted. The objective of the regulation was to ease the capital situation for European institutions and even out competitive disadvantages to the rest of the world. The net capital effect of the changed regulation for Qliro is approximately SEK 90 million. The capital situation is strong with 15% or SEK 340 million in headroom towards regulatory requirement. That gives us good possibilities to realize our growth ambitions. Regarding liquidity, as you know, we have a diversified funding in deposit and a multicurrency credit facility that fits our business very well since we are having a fast-moving cash flow in payment solution and a more stable movement in personal loans. The absolute majority of our financing is coming from deposits from customers in Sweden, and we have a growing funding in euro launched this year in cooperation with Deposit Solutions. The euro funding gives us more flexibility, and we can use the swap market to retrieve competitive funding prices. All in all, we see that we can grow our balance sheet considerably without altering our financing means. With that, I will hand over to you again, Carolina. Thank you, Robert. Please turn to page 18. To provide a short 2020 summary, it has been, to say the least, an eventful year for everyone. For Qliro, it has been, of course, the split from the group and separate listings, but even more so to develop the Qliro business. We are a tech company and change is constant. New opportunities arise from regulatory changes, from market demands, and from our strive to be the preferred partner in offering customer relevance. There have been several big improvements in the checkout, strengthening the partnership offering further, as well as enhancing the customer experience with new digital platform and laying the foundation for integrated partners offering in Sweden. All of these efforts, together with the knowledge and insights that we provide our partners, has resulted in growth of our merchants and customer base. 2020 started with an uncertainty around how the risks would arise from the impact of COVID. Actions were taken to reduce the growth rate in consumer loans. As Robert Stambro just said, we do not see any indication on reduced ability to pay from our customers. Being in the middle of the pandemic means that we are humble for what might happen in the economy that will impact our customers. Our focus is always to ensure sound credit risk appetite and underwriting. That is one of our core pillars of sustainability. During the year, we have furthered our sustainability focus, as I previously talked about, and also strengthened Qliro as an employer. Our employee satisfaction has increased significantly. Turnover has lowered, and in our recruitment efforts, it's clear that the employer brand of Qliro has improved, which is important for the journey that we are on. This is and will continue to be a focus area for us. Moving to the final slide, number 19, please. The focus for 2021 is to continue this journey that was set out in 2020. Our strategy is to continue strengthening our preferred partner value and by that be the number one challenger for larger merchants in the Nordics. We care and the merchants care about the customer experience, both pre, during, and post-purchase. We will continue to focus on enhancing that experience and provide relevance to the customer by developing services that are relevant for them. By focusing on this, we will deliver on growth, grow our number of customers, grow our number of transactions, grow the Qliro volume, and grow top line faster than cost. With that, we finish the presentation part of this call, and I hand over to the operator to see if there are any questions from the audience. Thank you. Thank you. We have one question. Our first question comes from the line of Ermin Keric from Carnegie. Please go ahead. Your line is open. Good morning. Ermin Keric here from Carnegie. Thanks for the presentation. I actually have a bit more than one question, but let's begin and starting on the payment solution side. In the CEO statement, you mentioned that you see a large interest among medium to large merchants to switch payment providers. Have you seen any shifts or increase of that trend, or is that just a general thing that you've seen for some longer time? My second question would be on the number of merchants you have signed but not onboarded and how much those could contribute when fully ramped up, including Biltema and Scandinavian Luxury. Also, if you could give us any sort of color how we should think about the Q1, given that you say that part of the seasonality we typically see then came already now in Q4. If there's anything we could use from your modeling for that quarter, that would be very helpful. I'll start with that. Thank you. Okay. First one, in terms of interest from merchants to switch. Ermin, I think that as we grow and as we develop, we become more of a relevant choice for more partners to be part of the selection process. I think that's what we see, that we are involved in many interesting discussions. I would say that that has grown compared to what it was like two years ago when I started, if I just do that comparison. Second, the impact for Biltema. I think that we're really happy that we signed via Biltema. They are a large merchant in the Nordics, and they have traditionally a very strong brand in the physical store. I think that their journey in moving into e-commerce is hopefully going to be as successful as it has been in terms of their online growth. We see a big potential in this cooperation, and if the partnership develops as well as we hope, we think that they will become one of our larger merchants definitely. I can't speculate because it would just be speculation to give you any more insights than that. The final question, or not the final, of the first questions that you have, Ermin, was in terms of our income. What it actually means is that we, in the fourth quarter, have more income related to the fourth quarter volume compared to what it looked like historically, because of the calendar effect and also increased shopping behavior earlier. I will say that it impacts the comparison positively for this quarter, and at the same time it will impact the comparison slightly negative. In terms of how you should model that, I don't think I can give you any guidance on that really. Understood. Thank you. That's all very helpful. Two final questions, if I may. You state on 2021 that you have an ambition to grow income faster than cost. Will it be possible to get any more color on your expectations for 2021 in regards to any of the financial metrics we are typically evaluating you on? Either on income growth or number of merchants added or payment, pay after delivery volumes or anything like that. Lastly, just on the credit quality, which has remained very good despite COVID-19 and everything. As you stated in your own remarks here that within payment solutions, you're at around 1% relative to the PAD volumes. How should we think about that going forward? Is that a level to look for or is it temporarily benefiting from anything currently? I think that the level of credit losses that we are currently on, which is below the guidance, is probably a level that we expect to continue to be. Of course, there might be variations due to things happening, I think for the longer perspective, I think that is a reasonable and good level to be on actually for both of the portfolios. Does that give you enough on the credit losses? Absolutely. That's very helpful. Thank you. I think when it comes to the income ambition, first I'd like to say that we're happy to deliver the 14% in this quarter, combined with the stable cost and lower credit quality. I think if you look for the next year, we will have a nominal cost increase in 2021 because we're growing our volumes and our business. I think that ambition is clear that we shall, over 2021 and in the longer perspective, grow our income faster than cost by delivering on that scalability. The best way to do that is to continue to be commercially successful in signing new merchants and growing our volumes together with the underlying growth. I won't give you a percentage increase that I know you're specifically asking for, unfortunately, because that would be to set the new financial goals, which I'm not to do. I had to try my luck at least. Very clear, though, and very helpful. Thank you very much for taking the questions. Thank you, Ermin, for asking questions. Thank you. We have no more questions from the line. I will hand it back to our speakers for their closing comments. We actually have one question coming in from the webcast. The question comes from [Ari Agman], who is asking about what is Qliro's strategy for increasing activity outside the Nordic area, and specifically for the PAD product? Just to say, we see a lot of growth potential within the Nordics, and the Nordics is where we want to have our risk underwriting and our balance sheet, what we see for the time being. We see big potential in that because it is our home market. Currently, what we want to do is to support our merchants as they want to grow outside by offering our checkout. Either just to process payments or to process payments and together with a partnership have an invoice product. We don't see in the near future that we will have our own invoice product outside of the Nordics in the short term. Also one last question is, when a user is using the PAD product, is the loan paid by the user or the merchant? If a customer uses the PAD product and buys something from a merchant, it's the customer that repays that credit. Any more questions? Nope. Not any more questions from the webcast. Do we have any more questions on the phone, operator? No, we have no more questions on the line. Okay, I want to say thank you for listening in to our fourth quarter presentation, and I wish you a very nice day. Bye. Thank you.