Okay. Nice to see you all. Lots of interest to follow our presentation today. We will present the Q4 for Swedencare and the year-end report. We will end by presenting our new financial targets that we've been working with for the coming years. Yes. Okay, it will be Jenny presenting this report. Let me just go ahead. Yes, Q4 highlights. Net sales increased with 195% to over SEK 100 million. We had both strong growth on the organic side, 32%. Also with the companies that we have acquired over the quarter. The high EBITDA margins all over the group. We've seen strong demand for our products, basically all over the world and all over our product lines. We have had very many interesting projects over this quarter. That will continue over into 2021 and years to come. Some new product launches in different markets. As I said, we will present our new financial targets. We managed to make yet another acquisition, a very interesting acquisition that will be a very important factor for our continued growth in the group with Holden2, a U.S. based company, experts in online sales. We'll look at the revenue for the quarter and how it's split geographically. The biggest part of the group's revenue is coming from North America. This is mainly driven by the acquisition of Stratford and Animal Pharmaceuticals, who came in in the last quarter. North America now represents 47% of the total revenue, compared to 29% last year. Also to note that also the existing North America has good organic growth. If we look at the U.K., has also grown from 22% of the revenue to 29%, partly due to the acquisition of Nutravet, who also came in 1st of October, but also driven by the strong online growth that we've had, mainly in Amazon in the U.K. U.K. actually had an organic growth of 56% compared to last year. If we look at the next part, which is Asia, this is where we see the biggest growth. It's actually double compared to Q4 2019. China, which if you look on the right where it says 13%, it's now 7%, but behind this, there's a 53% increase compared to last year. It's just that we have so much additional revenue this year. Of course, the rest of Asia has also had a fantastic growth this quarter, tripled the revenue. This is mainly driven by South Korea and Japan, but mainly in South Korea, where we have also launched the Dental Bones during the quarter. If we look at sales per region for the full year, North America is now representing almost half of our revenue. This will continue to increase in 2021 as we have Holden now coming into our books from January. China, despite the fact that there was no order in Q1, we are in the same levels as we were in 2019. Rest of Asia, we have seen a strong growth in 2020. It's been increasing by 65%, and again, South Korea and Japan are two main drivers to that. Rest of the world is mainly Australia and Chile, where we have seen the strongest growth this year. If we go over and look at our revenue per product line, due to Stratford and Animal Pharmaceuticals, who offers many products in the topical and dermatology product line, this is now a new group for us, which is now 25% of our total revenue. Nutravet's products are mainly represented in the nutraceuticals, which you can see the growth has gone from 12% last year to 36% this year. In the ProDen PlaqueOff has also been very strong growth. First of all, the Dental Bones is the product that grows the fastest in our product line of the ProDen PlaqueOff. It's about growing by 71% for the quarter. This is mainly driven by the launch of the Mini Bones that we've had, a lot of sales on Amazon, and successful launches all over where we have launched the product. Also, the flagship product, Powder, is having very good growth of 28% in the quarter. This is the product that we have also started selling in Stratford in the vet channels. The ProDen PlaqueOff last year represented 83% of our total revenue, and now it's 37%. The sales per product for the full year is very similar to the quarter, so I will skip that one. If we look at some KPIs for the quarter, we have reached SEK 100.6 million for this quarter. It's the first time in the history that we have reached SEK 100 million. This is 195% increase of revenue, 32% organic currency-adjusted growth. The growth margin is a little bit lower due to that we have a lower margin in both Stratford and Animal Pharmaceuticals. It's about 63% for the quarter, compared to 72% last year. When it comes to external and personnel costs, we have, of course, less sales activities due to the pandemic. There's less traveling and expo cost. However, we have increased our long-term marketing initiative. During the quarter, we have, for example, launched a new brand platform for the product PlaqueOff. We have also increased marketing initiatives with Amazon as we are growing, especially in the U.K. A couple of other events that have happened during the quarter is that we have moved to new offices, both in the U.K., Greece, and also the U.S. In the U.S., we have moved to a much larger facility in Texas, where we're also going to open our own production facility for the product PlaqueOff, which has impacted the quarter. In addition to that, we have had exchange losses of SEK 4.4 million, which is included in the SEK 25.3 million EBIT. We have an EBIT margin of 25.1%. Moving forward to some KPIs for the year. Net revenue of almost SEK 240 million. This is a change of 89%. Organic currency adjusted is 19% growth. EBIT is about 60.3%, and if we exclude the acquisition cost that we had with Stratford, Animal Pharmaceuticals, and Nutravet, our operating EBIT will be at SEK 65.6 million, which will be an EBIT margin of 27.3%. A couple of things to mention for the balance sheet and the cash flow. We have increased our working capital a little bit due to inventory build-up. This is both the preparation for growth and also a preparation for the, let's say, Brexit logistic issues for this year. There's been a negative cash flow this quarter, mainly driven by the new share issue that we did for Nutravet and Animal Pharmaceuticals. We did that new share issue in the end of Q3, but we paid the purchase price in Q4, so that's why it had a negative cash flow for the quarter. We also did a new share issue in December to finance Holden2 LLC, which has, of course, impacted the equity. Our solvency is 81%, so I would say very steady balance sheet. Our cash when we closed the year was SEK 284 million. Right after the year-end, on the 4th of January, we paid the Holden of the 120 million, so we have a net cash of about 110 million SEK. This is our rolling four quarters. If you see, it's really taking a peak now in the last quarter, up to 239 million, and it will continue to have a dramatic change now for the next quarters to come due to the fact that we have the additional businesses that we have acquired for the last six months. Yes. A couple of pointers about the last acquisition that we made. It's been a strategic decision for us due to focus more and more on the online sales. Of course, with the COVID pandemic happening, the market trend has really been that the online sales in our business has grown a lot. We've been fortunate to find a very good company to acquire, Holden2. Focused only on online sales, have fantastic competence within Amazon primarily, but also in other different platforms. The largest platform in the U.S. for pet products is Chewy.com, also an important platform for Holden. They are very skilled and have lots of reference projects with Amazon, so they are actually in direct contact with the development teams. They have been growing tremendously. Last year was 100% growth, and what we've seen so far this year, the growth will continue. We will, of course, use their skills for the whole group. We will also launch the PetMD. That's the biggest brand that Holden has. A very well-run and presented brand. That so far has been sold only in the U.S. We are in the preparations of launching that in Europe. That will hopefully happen this first half year. We're very excited about that. As you see, the Amazon and Chewy sales are 93% of the total sales for Holden. They're very focused on that. As we go along, they will get revenue streams from other sources as well. We have just finalized a deal for launching PetMD in Asia and Tmall in China. That will be very exciting to see. That will probably happen this first half year with the product launches. Talking about synergies, they are absolutely synergies from day one. Holden had a relationship with one of our group companies, Stratford, before, so they were selling a couple of the products from the Stratford product line, and that will, of course, increase. Holden will take on more products from different group companies. Holden will spearhead our direct-to-consumer sales that we're very focused on building up together with increasing the sales on these more well-known platforms. We think it's important to have direct sales to end consumers as well, and that was one major factor why we acquired Holden. Holden will also have online global responsibility within the group. We have already started some projects. Holden has helped us with our launch in India on Amazon, in certain markets in Europe, and that will continue. We will transfer the fulfillment logistics centers for Holden to Stratford, where we're really building up a powerhouse in the Tampa region. Stratford will handle Holden, Animal Pharmaceuticals, and their own fulfillment services. That's really a stronghold for us. As I said, the launch of PetMD in Europe Amazon, and we will continue the buildup in Ireland. Swedencare Ireland will handle all the fulfillment, logistic, and also production projects for Holden and the PetMD series. They will also be a very integral part of the online sales transformation for ProDen PlaqueOff and Animal Pharmaceuticals. Animal Pharmaceuticals hasn't been sold within any platforms before, that will be launched on Amazon in Q1 and Chewy in Q2, we're very excited about that. If you want to see more about the product offering that Holden has, you can go into petmdstore.com and see the product offerings that they have currently. Integration projects. Lots of projects as I've written in my CEO comment. Of course, Stratford, Animal Pharmaceuticals, that continues in fast development. Before Q1 is ended, all the fulfillment, logistics, finance department will be handled by Stratford, so Animal Pharmaceuticals can focus on marketing, sales, and product development. We have launched a completely new ProDen PlaqueOff Soft Chew that's been developed within the Stratford group. We'll focus on veterinary sales, also be launched online. PetMD, we have introduced a ProDen PlaqueOff PetMD co-branded product launched on Amazon within Nutravet, our U.K. specialized veterinary company. They are launching a NutraPlaq product with our ProDen PlaqueOff active ingredient, but in a new format being launched through all of the veterinary clinics in the U.K. We will launch Nutravet in Greece as the first external group country to be launching Nutravet, so we're very excited about that. We have hired one person focusing only on this launch together with Matthew and his team in the U.K. That will be really interesting to see. Production-wise, as Jenny said, we have started up a new company, a new daughter company called Tillverka. It will be based in Houston, Texas, together with Swedencare USA. We have our goal that we will produce 50% of the ProDen PlaqueOff being sold in the U.S. The powder product will be produced by ourselves in 2021 already. Hopefully the first products will come out the end of Q1 or early Q2 from Tillverka. That will, of course, help us two ways. The access to product, of course, and also increase our margins a bit. We will also start producing new products in Ireland. We're looking into dermatology products because they are very heavily based on water, and we don't want to ship those from the U.S. to Europe. That's a completely new product line that we haven't produced in Ireland previously, but we are in the late phases of that, so hopefully we will start production in Q2 for the European markets. As I said, Animal Pharmaceuticals to Amazon, we're very excited about that since Animal Pharmaceuticals is a well-known and well-reputed brand, only sold previously in the veterinary clinics. We're actually taking the current product line from Animal Pharmaceuticals to Amazon and Chewy and are launching a completely new Animal Pharmaceuticals 2.0 version to the veterinary clinic so that they will get an enhanced and even better product line from Animal Pharmaceuticals. We are also in the late phases of presenting a new web solution for the group, and that will include new internal web shops so that we could start promoting the direct-to-consumer sales, and that would be basically for all markets, but where we have daughter companies. Online in Europe and rest of the world, as I said, we streamline and integrate and focus a lot of marketing activities online, both with the platform partners and from ourselves. We have both the projects that we run from Europe and, of course, with the competence that we have acquired from Holden, so that they are really helping us to have the best solutions in place. Priorities going forward, of course, integration of Nutravet, Animal Pharmaceuticals and Holden, but I would like to emphasize that we are an entrepreneurial company acquiring entrepreneurial companies. It's really focusing on growing the business as it was or as it is and just taking the good synergies and integration projects that we can have at the same time. We are not really focusing on big integrations. We've done a really thorough due diligence before we acquire companies, so we know that they have the same mindsets as we. So far, it's been all good, and all of the entrepreneurs that have joined the Swedencare group are really thrilled about it and really appreciate our way of working. I don't expect any problems with the integration work going forward. Increased marketing, as Jenny said. We are focusing a lot more on marketing and sales, and we see that we get good return on investment on primarily the online sales. It's really easy to measure. We'll continue with that, and also our big product PlaqueOff branding project continues. Brand and product development. Of course, now with our group being so widespread and have lots of competences, the product development is increasing. We do that both in-house and with partners, and we get new competences within the group, helping us to develop or reshape products that we already have. It's really exciting times. Of course, trying to get out as much product as possible in the different markets. We see that's more hefty work being done. We're taking the low-hanging fruits with international partners, but also within our internal group. We see which product lines, let's say, have the best characteristic to being produced in different markets. We keep on working diligently with increasing the product range. Going forward, Asia and North America will be, let's say, probably where we see the most growth. I wouldn't count out Europe since we have lots of interesting projects in Europe as well. Percentage-wise, I guess Asia will continue to grow at higher numbers than the other markets. Yes, going over to our financial goals. We've been working with that since, of course, when making all of these acquisitions. We basically reached our financial target that we have with SEK 500 million. That we will definitely reach this year. We started working with that, Jenny and I, together with the board, and we have come up with, let's say, a tough target, reaching over SEK 2 billion in sales, with an EBIT margin above 30%. We've been doing our homework here really well. I think we're confident, Jenny and I, and the rest of the organization for their parts, what they are responsible for. Really, we feel that the momentum in the business as such is really good, and we have a unique position with having picked, let's say, the high-growth sectors and lots of opportunities that we see within our group and with our partners and customers. We feel it's a tough target, but I'm confident that we will reach it. The goals will be reached primarily through organic growth, and what we mean by that is that we are still focused on looking at interesting acquisition targets. In our goal, we have not counted on any, let's say, really big acquisitions. One or two perhaps will be needed to reach the goal, but no really big ones. If we would make a major acquisition, of course, we will look at the financial target and see if there's any need for changing those. We feel confident that with the current setup that we have and with a couple of small additions, we will reach this goal. Okay. With that, I think. Please, if you want to send in some questions. we will go over to them. Okay, we have received one question. Can you draw any conclusions from the customer patterns in the regions of China where COVID restriction have been lifted? Yes. What I would say about China was basically the first market out with the restrictions, because it was a combination of the Chinese New Year being early last year and also the outbreak in China. That affected us, not having our quarterly order from China, because it was a major shutdown in China. What we have seen in China, not only in the pet market, was that China was a bit slower coming back from the pandemic. If we look at our sales to our distributor, they were basically flat compared to 2019. Actually, the sales from our partner, they grew the sales of ProDen PlaqueOff in China with around between 15% and 20%. The comeback for China was a bit slower than other markets, and it wasn't as sharp a change from the physical stores going to online, because online was already strong in China. I would say end of second half year, strong comeback in China and specifically in the fourth quarter. Okay. There's no other questions. I'm thinking if there's any other thing that we should mention. No, I don't know. Can you talk about the 4:1 split? Oh, the share split. Yes. There will be a proposal for the annual meeting that we will have a share split of 4:1. It came up in the board as a proposal. We decided that. It's just really having, let's say, I don't know, the share value if it stays from this value we have right now, it will be around SEK 80-SEK 85. Going forward, we've been recommended that it's a good split to make. Yep. Good. What is the organic growth you are comfortable with for the 2025 guidance? I would say that we count on having organic growth between 20% and 25%. 25%. Depending on the markets. There are some that are faster-growing, and some that are a little bit lower, but an average 20%, 25%. Hello. Great work. Can you say something about the sustainability, use of plastic, et cetera? Any plans to look into saving contributions? Absolutely. It's really important. We're really focused on trying to have as sustainable operations as possible. Not only with the packaging that we have, but from all perspectives. The problem is with the packaging is with plastic, of course. We have some projects with recycled plastics, but that's problematic since we have food-grade products. It's really difficult to find recycled plastics for that. We have some projects ongoing, and we will continue. We would absolutely like to have different packaging than the plastics that we currently have. Yeah, during 2021, we're going to do a lot more work on the sustainability documentation as well. How do you explain P/E factor over 150x? Over 20x is considered as a risky. The P/E factor, yeah, that depends on how you calculate it, and it's really the market setting the price. It's not us. That's the appreciation for us and going forward, all of these P/E numbers are always on the historic numbers, and you need to take into account what we presented with our acquisitions. As Jenny showed you, the run rate for our company now, it's really a completely different company. I wouldn't say we don't have a P/E factor of 150x right now. We will have a completely different sales year 2021. Yep. There was one question here, how do you see the dividend policy going forward? At the moment, we have a dividend policy that our target is to make a dividend of 40% of our result. We have proposed, or we will propose in the annual meeting, we're going to have a dividend of [$ 0.80] or SEK 0.80, which is higher than we had last year. It's a little bit lower than the 40%, this is something that we feel comfortable with. We're not about to change the policy, it will remain. How do you calculate organic growth? Does the acquisition have to be fully annualized before being included, or do you readjust the base? The organic growth is, first of all, adjusted on the currency to make sure that you compare dollar to dollar and not the currency fluctuation. We exclude the acquisitions completely, the Stratford, Animal Pharmaceuticals, and the Nutravet. Actually, part of the Biovet was excluded as well, as we didn't have Biovet for the whole 2019. Any plans to develop the capacity of our own production? Yes. This is something that we mentioned today, that we have just opened up our own production facility in the U.S. for the ProDen PlaqueOff. Production is an interesting part. We have lots of good partners. The majority of our products are produced by partners, but of course, we see where there's business opportunity, not only from a, let's say, margin perspective, it's also a supply perspective. It's of course part of security, having your own production to get the products on time when we need it. So it's a combination of improving our margins and also product security, having the products to fulfill the demand. We will probably look into new production, let's say, opportunities. As I said, with Ireland, we are producing new types of products that we haven't done before this year. Okay. What is a typical return on marketing spend for you? What do you intend to spend on marketing in 2021? Well, all the marketing is not directly sales-driven. Some is. For example, if we do on Amazon, we can see a good return on it. However, how much we spend, I would say we spend about 10% of our revenue in marketing. That's the target for 2021. What is the reason for paying out dividend when there seems to be many investments opportunity in the market, particularly within M&A, where it's been successful historically? The decision about giving dividend was made when we had the strategy of growing the existing business, not having this acquisition mode. That changed, and we just felt that since all our businesses are cash positive, generating lots of cash, and the board discussed it, but we feel that we have a really healthy balance sheet. Really, we have the means and opportunities to make acquisitions even though we give some dividend. That's the reasoning behind it. There's a lot of questions coming in here. You gave a target of SEK 2 billion in 2025, so around 50% top-line CAGR. If 20%-25% organically, it implies 20%-30% through M&A. Don't you think this is a lot? I don't know how you calculate that, but it's about a growth of 20, 25 of the existing businesses, and then you got to think that we have the new acquisitions that are not fully included in our results yet. We have Holden, which is going to be included in Q1 for the first time. Without Holden, we had SEK 100 million last quarter. If you calculate that with those SEK 100 million going forward every quarter and having growth, then you easily end up with around SEK 500 million, and then you add Holden to that. Last year they had SEK 17 million in sales and continued growth. I would say you have to do your own calculations about where we're going. Yep. Here's one about the vet clinics. Hold on. It went too fast. Beside organic growth, what is the market coverage in terms of vet clinics after all the acquisitions? The? The vet clinic, what is the market coverage in terms of vet clinics? Yeah. It's always difficult to get hold of the actual numbers of vet clinics. My best guess is that we sell products to over 50% of the vet clinics in the U.S. When it comes to Europe, that's a bit different. With Nutravet, we have a really unique agreement with IVC, the biggest vet clinic chain in Europe, and they are really having a strong goal in growing the number of clinics. There we supply all of their clinics in the U.K., and there are over 1,500. The rest of the clinics in the U.K. are basically a couple of thousands more, and then we sell to perhaps 50% of them. I would say that in Europe and the U.S., we sell products to around, or will at least in a couple of years, we'll sell around 50% of the vet clinics. I think that's the last question. Thank you very much for everybody's time a nd- See you in a quarter. See you in a quarter. Bye-bye. Bye-bye.