My name is Håkan Lagerberg. I'm the Chief Executive Officer of Swedencare, and with me I have Jenny Graflind, our Chief Financial Officer, and we will present the Q1 report for 2021. Yes. You may ask questions during the webinar, and we will answer those at the end of the presentation. Okay. 2021 Q1 highlights. We had strong growth, as expected, to over 250% growth, and the organic growth was 25%. As we've written in the report, despite some challenges in regards to the delivery and production, mainly based on COVID. We were hoping that those issues would be solved by entering the quarter. As you all know, there were some backlashes with that, so lockdowns and also some logistic and transportation issues, of course. Overall, we're very satisfied. We have had growth in every sector and every channel, despite the issues we've had. The one thing that we've been transforming over the last year and this year is, of course, the online sales. Now it's over 50% of the total sales of the group, and primarily driven from the big online platforms as Amazon and Chewy, and also Tmall and the others in China. We expect continued growth into those channels, but of course, the retail offline stores and clinics will pick up over the year to come. One amazing achievement is that we have two dental care products, the powder for dogs and the powder product for cats. Both are number one in the dental care sector on Amazon U.K. We're really thrilled about that, and we will keep on reporting our progress in the online channels. We've had several ongoing sales and cooperative discussions with major players both in the U.S. and E.U., and it's driven by, of course, the acquisitions we made last year and the product offering that we now can show, and it's from a sector where we haven't been focusing on. We will continue with our own sales, but also enter into a lot more of these corporations since we see that we can grow our sales, of course, a lot, but also get in touch with these major players helps us to keep on delivering new products and have markets for those. We ended this intense quarter with yet another acquisition, a very nice company called Rx Vitamins that I will present later on in this presentation. What we've been doing this quarter is, of course, lots of internal and external projects, and I have named a few here, both projects that we've been working on and finished and some that will continue over the year to come. We're very happy to say that we've started our own production in the U.S. for the first time, a new daughter company called Tillverka down in Houston, Texas. We were hoping to start production in Q1. Actually it was first week in April we launched the production. It's been great to see. Since we've had some challenges to fulfill the demand from the market, we're really happy to have this on board. The team down in Texas have done a fantastic job getting this running. Over this year to come, we will continue taking more of the production from our own resources. The integration of Animal Pharmaceuticals into Stratford Animal Health down in Florida has been a huge project, both in finance, warehousing, and logistics. It's also a project that, from my side, I was hoping and thought it would be finished in Q1. It actually was, the stress on the organization and the efforts done has also been fantastic. We're just looking forward to having everything over. From Q2, everything is set in place, we'll just keep on focus to grow the business, it will be a lot better for those companies to be able to put all the resources on growing the sales. We've launched some new products, Soft Chew, ProDen PlaqueOff, Pet MD, a co-labeled product for PlaqueOff on Amazon. NutraPet is being launched in the U.K. with nutravet, all of those products having the active ingredient ProDen PlaqueOff, we have lots of other new products that has been introduced and will be introduced over the year to come. There's lots of focus of introducing new products. As the first group country, we have launched nutravet in Greece. Sales are starting now here in Q2. It is sort of a test run how we will launch nutravet out in other countries where we're present and also that we can use that setup for partners in countries where we don't have our own setup. We are increasing the production in our facility in Ireland, both new products, and we're also exploring the possibility of starting to produce dermatology product in a wider range in Ireland for the European market. One big thing for Q2 is the launch of Animal Pharmaceuticals on Amazon and Chewy. Animal Pharmaceuticals has never been sold online in the U.S. through these channels. Holden will take care of that project, and we're very excited about that and have high expectations on the sales there. We will present a new web solution, as we've outlined in the last report, that we will focus on turning more direct sales to consumers on all the markets we're in. That includes a completely new web solution, so that we can both market it better, but also have all of the backbone solutions for logistics, et cetera, and payment in a better way than we have today. Big online projects in Europe, where we are transforming, first of all, the Amazon sales in Europe, where we're present in half of the Amazon countries in Europe. Now we will be entering into agreement that covers all of Europe, that will be handled from our new online department in the U.K. that has been so successful in handling the Amazon U.K. account. Going over to the sales and numbers, Jenny. Yes. Let's look at the sales per region. The biggest difference is, of course, North America. This is where we have done the acquisitions of Stratford, Animal Pharmaceuticals, and Holden, which of course has the big impact. The North American market has grown from 27% last year to 63% this year. This market will, of course, continue to be a bigger part of the pie as we have the Rx acquisition that we just completed coming into our books from April. Despite the big growth that we have in U.K. market, both with the acquisition of nutravet and also the organic growth that we have had in Swedencare U.K., this part has decreased a little bit from 25% to 21%, but of course, it's highly impacted by the North American growth. We have seen record sales in several markets, Spain and Greece, several other markets have had their best quarter ever. It's a smaller part of the group, still important to us. The rest of the world, we have made a good delivery to Brazil this quarter, that's why we have the growth in this part. If I look at Asia has decreased from 14% to 6%. However, it's including a big order to China, which we did not receive in Q1 of last year. However, other markets which are big in Asia, such as Korea and Japan, we have not received an order now in Q1, we're expecting that in the coming quarters. Let's look at the sales per product. Now with our acquisitions, we have a much more, let's say, even split between our products group. If you look at the pie to the left, we have about 1/3 of ProDen PlaqueOff, a 1/3 of nutraceuticals, and a 1/3 of topicals and dermatology products. This is a big difference from last year when ProDen PlaqueOff was representing 82% of our total sales. Saying that, I need to emphasize that the ProDen PlaqueOff still have very strong growth. It was grown by 33%, despite the fact that we have delays in the production of our ProDen PlaqueOff Soft Chews. Powder is the product which is growing the fastest. It had about 40% growth in the quarter, mainly driven by sales in the veterinarian channel in the U.S. and also online, where we also launched it with a co-branded brand in with Holden. This is a new chart which we are now presenting due to the fact that we have several strong brands in our group. This is just showing you the split where Pet MD is the online brand with Holden from that acquisition. As you can see in other, we have a small part of Rx Vitamins, and people may think, why is it now already a part since it's already in our books from April? The reason is that Rx has sold some products to Holden in the past. That's the reason for that. A couple of key performance indicators. SEK 133 million in revenue this quarter. As Håkan said, 255% increase in our revenue. 25% of this is organic growth. Our gross margin is a little bit lower. It's 60% versus last year's of 71%. This is in line with our expectations as we have lower margins in Stratford, for example. If we look at our external cost and our, let's say, odd costs, we have acquisition cost of almost SEK 1 million this quarter due to Holden. We also have a one-off cost with the production facility in Texas and also this moving cost of the logistics and the warehouse. Despite this, the one-off cost and the higher marketing cost that we have, the synergies and the scalability in our business results in a quite a big decrease of operating expenses compared to sales. It's about 12% decrease if you compare percentage of sales. When we work with Amazon, we have higher external costs related to that as well. The operating EBIT is SEK 36 million for the quarter and 26.9% EBIT margin. If we look at cash, at the end of the quarter, we had SEK 162 million. During the quarter, we paid the acquisition of Holden, which impacted our cash of SEK 123 million. We also have an increased working capital due to the fact that a lot of the revenues came in in March. Therefore, we have higher accounts receivable. I also wanted to note that we are paying the Rx Vitamins acquisition just as we have opened April. That will impact cash with SEK 161 million. We are also taking up a SEK 90 million loan to finance that. Our rolling four quarters, as you see, has quite a nice trend. We expect this trend to continue, especially now since we have yet another company to include in our financials from April. Yes, some words about Rx Vitamins. It's a classic company in the nutraceutical industry for pets in the U.S., one of the first introducing products. Has really set a high standard for development of formulas to veterinarians. Really every ingredient in the Rx Vitamins products has a reason for being there. They have been very detailed in compiling the different products and the ingredients thereof. Craig Kisciras, the CEO, is the founder, has been running the business since start. Both him and Rx Vitamins are founding members of NASC, the National Animal Supplement Council. It's an organization that sets up some standards for producing these kind of products and also when it comes to labeling. It's really a good reference case. Also the knowledge we get with Craig is enormous. All of the products have been formulated by a well-known veterinarian, Dr. Silver, and Craig together, and with, of course, some external experts. They have a very strong foothold within the progressive and innovative veterinarian community, and also, one would say, some of the more open-minded veterinarians willing to test new and innovative products. Their sales in 2020 was around $8.5 million. Why we, as I said, I described it previously, why we thought it was a good fit for us, it's also because, as Jenny told you, Holden has had a relationship with Rx Vitamins, just introducing Rx Vitamins on Amazon last year, 2020, and had just been starting it and had really good results. We see a big opportunity in developing that channel. We will also launch the Rx product and product lines within group companies and some more international markets. They are present in 10- 15 markets all over the world. We see the opportunities, and there have been interest already. What we also will do is offer our larger partners with co- and private-label solutions. That is an area where Craig and his team hasn't had time to really focus on, and they have focused on building up a unique customer setup with smaller practices, around 5,000 clinics all over the U.S., and really focusing on direct sales to these. They haven't used much of distributors in the veterinarian sector. They have really a good track record of true customers keep on buying their products. We see a big interest for these product lines from some of the major players. We will also, of course, make it vice versa, introduce high-quality products from all of our different group companies into the Rx brand, since, as I said, there's lots of trust in the Rx brand, loyal customers that want to keep on buying just the Rx product. We really think it's a good fit, and from what I've heard, the start of April has been really good with Rx, our other group companies. We expect this to be a really successful contribution to the group. Going forward. Basically the same priorities as we presented after last quarter. I would like to stress that we're really focused on keeping the entrepreneurial spirit in all of the companies that we bought. We just see the add-ons and the opportunities. Those are the things we focus on. It's really no big, let's say, integration processes. The only integration that's really fixed is the reporting and the finance. Otherwise, we focus on growing the current sales, growing the business, and just adding positive factors to the business. Keep on increasing marketing, very, let's say, planned and organized. Spending dollars where we see we get at least $1 back. We increase the budget, but really with focused investments, not really just a big marketing campaign all over the world. We're really focused on that. Brand and product development, of course, with all of these new brands in the group, it's really staking out the way forward, where we perhaps focus one brand more offline and another more online and keep on introducing different products from the different product ranges into our group brands. Also, of course, product development. As I said, we have many new product launches this year and in the pipeline for the years to come. Trying to get as much product out in all the markets we're in and also our export markets. It takes a bit longer time with the export markets, but we have presented all of our new ranges to our different partners all over the world, and there's lots of interest. Just keeping on being very agile and looking for good opportunities in the markets and in all channels. We're in a market that is predicted to grow with double-digit numbers, and we definitely aim to outperform in that market. We will continue to have growth over 20%. That's it for our presentation. We will take some Q&As at the moment. Let's see. We will have the first one. Do we expect any one-off cost related to the Auric acquisition in Q2? If so, how much? Yes, we will. We will have cost of about somewhere between SEK 500,000 and SEK 1 million, I would say, of one-off cost. Will the OpEx go down in the coming quarters? Yes, we expect it, as we grow, we expect it to continue to use more synergies and have scalability in the group. However, as Håkan said, all our companies, we are not buying or doing the acquisitions with strong integration. It's more of a, let's say, a result of doing the integration. It's not something that we are striving, having specific projects for. No, the increasing top line, the sales, we're not foreseeing any heavy investments. We will add a couple of resources here and there because we need to grow the organization a bit, but it's definitely that OpEx will come down. Yes. Question for you, Håkan. Is it possible to quantify the magnitude of sales that were delayed from Q1 to Q2? It is fairly possible. I would say at least SEK 1 million, but probably more. It's not lost sales. We will get that in the coming quarters. Do we have any data for repeat sales from PlaqueOff customers? No, not an exact number in a study, but we do have an extensive customer reference with all of the customer reviews. You can watch it if you go into Amazon, you can see it in the references. If you Google or if you look at Instagram, lots of satisfied customers. I don't have a percentage, but from the feedback we get is that the customers tend to keep on buying it for a lifetime of their pet if they start using it. Yep. Your expectations on the coming quarters, can you give some examples what you expect for the next quarter in terms of integration project? Yes. As I mentioned before, there's a couple of big ones. It's of course introducing Animal Pharmaceuticals on the online sales. We will introduce ProDen PlaqueOff in more product ranges, as I said, with nutravet introducing completely new product called Nutraplaque. There are other big synergy products or synergy sales products, I would say, where we offer a completely new product offering to external bigger customers, major players, as I said. We're discussing large projects there. If we look at our partners out in the world, they will be bringing on more of the brands to new external markets. We have one question here. How do you see financing upcoming acquisitions, stocks or more bank loans going forward? Probably a combination. Yes, probably a combination. It was going to depend a little bit of the size, but we have a strong balance sheet. We can absolutely use our balance sheet with bank loans as well. Yeah. One important factor in all of these deals is that we will have shares as a component for the seller for management staying on board. That's really important that we want to have focused managers within the group that has a stake in the game. What is driving the biggest net sales growth going forward? Is it online sales or is it utilizing the existing veterinarian network with more products? Sorry, where? What is driving the biggest net sales? Is it online sales or utilizing the existing veterinarian network with more products? I think the online sales is driving more sales at the moment, but as I said, we have some major negotiations and discussions that could be more really volume-based. Online, I would say has the upper hand. A couple of questions when it comes to the pipeline and acquisitions. First of all, can we get an idea of the current acquisition pipeline? Yes. The number of targets that we look at is somewhere between, I would say, 5-10, and that is always in the loop. Some are discarded fairly fast and some we look into a bit more detail. Is it typical the seller that is contacting you, or are you contacting the seller? Nowadays, I would say it's more often the seller contacting us. Yep. Okay, let's see. One other thing is about this Amazon sales that I wanted to explain just a little bit short. I mentioned in the report that half of our external cost is coming from the direct sales to our online channels. The way Amazon is structured is that we have, of course, a higher gross margin when we sell to Amazon, as we are basically skipping one layer. The way Amazon works is that you pay, of course, they have a service cost and marketing cost and listing cost. Such as, for example, if you want to deliver your products to one specific warehouse instead of 10 different warehouses, or if you want to ship in pallets, et cetera. That, of course, have an external cost impact, but saying that, it still has a high gross margin. When it comes to the bottom line, it's not a big difference working with other customers. Let's see if there's any other questions that we could answer here. There's substantial difference between geographical in terms of average spend per pet. As you mentioned, new pet owners of present days are spending more is one trend. Where do you expect the spend per pet to grow the most? Europe is lagging U.S. Do you expect Europe to catch up? No, not really. Historically, the average spend has been around half if you take Europe as a whole compared to the U.S., and a couple of new service being presented is really that the U.S. is taking off. It's expected to go from last year, the total spend was $100 billion for the first time in the U.S., and that's expected to grow nearly up to $300 billion by 2030. I do think that the U.S. will actually increase the gap between the spend and the E.U. U.S. definitely. Okay. Okay. I think that's it. Thank you so much. Thank you for listening in to us. We've had an exciting quarter. We do expect to be presenting really exciting reports the year to come. Thank you. Take care. Bye bye.