Ladies and gentlemen, welcome to the Semcon Audiocast for Teleconference Q1 2022. For the first part of this call, all participants will be in a listen-only mode, and afterwards, there will be a question and answer session. Today, I'm pleased to present CEO Markus Granlund. Please begin your meeting. Thank you so much, operator, and welcome everyone to this report presentation. We've released the report for the Q1 of 2022 for Semcon today. With me, I also have Semcon CFO, Björn Strömberg, and also Kristina Ekeblad, Investor Relations Manager. The report that we released today, and we move to the next slide, operator, please. Really shows continued strong growth and profitability as you've already seen. If you look at the figures, we have a total sales growth of 18.2% and an organic growth of 4.4%. The adjusted operating margin is 13.2% compared to the previous period of 11% last year, same period last year. This is adjusted due to the fact that we have the ongoing separation project, which has an impact on the figures by SEK 3 million. What we can say in short regarding the report is that the digitalization and the green transition really drives high demand for our services. We have a lot of discussions now with our customers who've set all the new targets for their sustainability journey and using digitalization as a means and a tool to reach those targets. The strong growth of 18% in Q1 was fourth consecutive quarter with double-digit sales growth and rolling 12 months sales growth we have of 15%. We see that organic growth is driven by, for example, growth in the public sector and telecom sector. We continue our diversification into new industry and accelerating that transformation as well with the new acquisitions and new companies that have joined the Semcon group for the past 12 months. As you can see, we have completed four acquisitions in less than 12 months now, which is according to plan and also allowed due to our great financial position that we have. As I mentioned, the adjusted operating margin of 13.2%. On rolling 12 months, the adjusted operating margin is on a historically high 10.9%, which is 0.2 percentage points improvement versus full year 2021. Moving to the next slide, please, and handing it over to our CFO, Björn Strömberg. Go ahead. Yes. I should comment a little bit about the cash flow and cash position. As I see, we still have a solid net cash position. We had a cash flow from current activities of SEK 44 million, and the free cash flow was SEK 31 million. I would say that normal cash flow for the Q1, but we had some negative changes in working capital. Last year we had high figures for cash flow, but that was a positive effect related to the previous year. Cash conversion is still above 100% despite significant growth in the Q1. We reported 105% growth in twelve months. The working capital ratio on that side is still on a low level, 3.9%. We ended up with the After we had also paid out SEK 23 million in consideration payment for acquisitions during the quarter and then we ended up with net cash of SEK 235 million. Still significant scope for further growth. As you know, we also have SEK 250 million in our utilized credit facilities. Very good. Thank you, Björn. Continued solid net cash position, as Björn mentioned. Moving to the next slide, please. We're now on slide four. Remember there that we have a total annual revenue growth of at least 10% is the financial objective that was set last year by the board of directors. Operating margin EBITDA of at least 10%, which we are now in line with, as we've seen in the figures. The dividend policy, approximately 50% of profit after tax should be paid as dividend. According to the proposal of the board of directors, we are on 53% for the current dividend proposal. The net debt/EBITDA ratio should not exceed approximately 1.5 times, just to remind you of the financial objectives of the group. Moving to the next slide, please. We are on net sales distribution. As I mentioned, we had a good growth in the public sector and other is increasing further, and that is due to acquisitions, but also significant organic growth in the segments towards the public sector, which is really pleasing to see. As you know, we've had the strategy now for quite some time to moving to more industries and broaden our customer base. That's very important to us that more customers take advantage of our competence that we have to help them with the transition that is necessary in so many industries, if not all. The mobility sector is still on 31%. Industry declines a bit to 28%. Life science on 11%. Telecom 10%, energy 7%, and as I mentioned, public sector and other up to 13% compared to 8% in the previous year. We are growing with new customers and new sectors, and the acquisitions are contributing to that. Moving to the next slide, please. Just to highlight a couple of examples of new business that we have within the company. Looking at, for example, Thule, which is very pleasing that we have entered into agreements, cooperation agreements with them to accelerate their product development and to work together with them on new exciting projects. That's really an exciting industry to be in and a very successful customer to work with. Also on the right-hand side on this slide, we are supporting now global train manufacturer Talgo with digital maintenance documentation, and these are high-speed trains. As you all know, trains are very complex products, which means that there are a lot of documentation that needs to be created. According to our strategy, we are directing all our sales efforts towards customers which deliver complex products and solutions, which means that this fits right into our strategy and starting to work with these kind of customers. Moving to the next slide, please. Going into Engineering and Digital Services and that business area. Moving to the next slide, please again. We develop sustainable technology, of course, through helping our customers with strategic design and innovation in early stages. We are moving up the value chain at our customers and have done that significantly in the last years. We help them with advanced engineering and production optimization and digital services. In general, we can say that in this business area, we are experts and specialists in product development and production optimization. All the customers need advisory services and project and quality management now in order to make the transition into more digitalized products and more digitalized production facilities. Also, to reach, as I mentioned, their sustainable targets. Some of our customers or many of them have set new sustainable targets, as you know, and they are very ambitious. It's just that we are now helping them with a roadmap on how to get there and reduce their CO2 emissions, for example. Moving to the next slide, please. How did we do in this business area in Q1? This is a record quarter for Engineering & Digital Services. As you can see, we have a total sales growth of 25.1%, which is excellent. Organic growth also on healthy levels of 6.6%, and an operating margin of 13.4%, which is an all-time high for a Q1 for Engineering & Digital Services. You also see here the industry diversification, which continues in a very healthy manner, which helps us to create even more resilience in our business, which is a major part of our strategy. In general, just looking at the operating profit as well, reaching SEK 43.5 million in the Q1 compared to SEK 26 million is quite an improvement compared to the previous year. Strong growth of 25%. We also added the acquisition of Goodpoint, and we have a successful integration of Squeed and Tedsys with positive collaboration, and the margin remained at record level, supported by growth and high productivity. The labor market for engineers, system developers is there, but we do see a very good interest and a large interest to join Semcon, which is, of course, excellent. Strong growth and positive margin trend. Looking at the acquisition of Goodpoint. Moving on to the next slide, please, operator. We are very pleased in adding the Goodpoint employees to our company and to our offerings. Goodpoint is one of Sweden's leading consulting companies in sustainability. It fits really well into our product development and production optimization direction that we have. They are 28 experts with broad expertise in the entire field of sustainability, from social to climate. They strengthen the current competence in areas such as circular economy, life cycle analysis, and climate calculation. It fits really well into the offering that we have towards our customers to add the know-how in sustainability related legislation, for example, human rights and sustainable business development. They had net sales of SEK 24 million in 2021. This has been an acquisition that is not very large, but from a strategic perspective, extremely important for the Engineering and Digital Services business area and for Semcon to be able to support our customers further with this acquisition. Moving on to the next slide, please. We are uniting physical and digital worlds, as you know. This is our unique selling point to our customers that we are really good at the product development and production optimization. We know how to do that from a physical point of view, and we're adding the digital world into that. With that expertise, with more than 100 competences in the business area, we are unique and very, very strong with a good foothold in the Nordic market. Moving on to the other business area, which is Product Information. Moving to the next slide, please. We are now on slide 12, operator. We make complex products and systems easy to operate and maintain. As I mentioned in the Talgo case, this is really where we see that we can make a difference. Products and production facilities become even more complex with the digitalization ongoing, and therefore there is a huge demand for user and operator information, diagnostic and service repair information, parts and accessories information, digital learning solutions, and also systems and tools that we provide to our customers. We help the customers sort these topics out through delivering strategic support and operational excellence. This is something that is generally not core for the customers that we have, and therefore they are very likely to outsource this to us. That's why we have a high degree of managed service and outsourced business within this business area, with long-term contracts and really good customer relations. This is an area where we see good growth opportunities going forward. Moving to the next slide, please, to look at the financial development in this business area. We had a total sales growth of 7.7%, organic growth of 1.7%, an operating margin on still historically high levels of 16.2% on the EBIT margin. You also see here that we have a good industry diversification in this business area as well. You see the industries represented here are really delivering complex products and services, of course, and that's something that we continue to focus on. The sales growth of 8% supported by the Walkgrove acquisition, which is a company that we acquired in the U.K., to also address the U.K. market when it comes to digital learning, which is a growing segment for us and has great synergies with the rest of the offering within Product Information. We see a healthy growth in Sweden, somewhat slower in Germany and China, and that is partly due to increased mobility in the labor market. We see a positive trend in those markets as well going forward. Some new volumes in the U.K. meant that sales declined slightly less than previously expected. As you know, we have already communicated that we have ramped down a delivery towards a UK customer. But we have been able to compensate that to a high degree with new customers in the UK, which is very pleasing, of course. We retained a high level of operating margin and good momentum in this business area. Looking at the next slide, please, operator. We are now on slide 14. We are now one step closer to the separate listing that we've already communicated. A very exciting project where we create two standalone companies, and that is on track. Crucial parts, such separate IT and finance functions, are in place at the end of Q2 according to plan, and preparations for a possible public listing are ongoing. As we've communicated also in the year-end report, the ambition is that public listing will see before in 2022. This has been decided by the board of directors and obviously the main reasons for this is, of course, that this will be a clearer offer to the market. It will also have really good opportunities to grow separately and be clear to all interest groups, basically, to deliver even more shareholder value. Moving to the next slide, please. If we look at Q1 in summary, next slide, please, again. We see continued high demand driven by macro trends such as digitalization, sustainability, and we see strong sales growth of 18% in the Q1. The positive margin trend really continued. 13% in the quarter and rolling 12 months, adjusted operating margin up 11%. The strong financial position that we have built over the past two years is really an enabler for accelerated growth, which we have shown with four acquisitions in less than 12 months. Our net cash position, even though we now have made these four acquisitions, remains on a very good and solid level of SEK 235 million, as Björn described before, and we have significant scope for further growth in this, of course. The separation project is in line with plan, aiming for a potential listing of Product Information in the Q4 in 2022. A very good start of the year. I must say that I'm ridiculously proud of all the employees and all the colleagues at Semcon making this fantastic journey over the past few years, executing on the strategy in an excellent way. That is, of course, the reason why we can deliver these kind of results today. Moving to the next slide, please. We're looking at the financial calendar for 2022 and 2023. The next interim report is for January to June 2022 is due on July and will be released on July nineteenth at 8:00 A.M. CET. Moving to the next slide, please, and now handing over if we have some questions from the audience. Thank you, operator. Thank you. If you do wish to ask a question, please press zero one on your telephone keypad. If you wish to withdraw your question, you may do so by pressing zero two to cancel. We have a question from the line of Stefan Knutsson from ABG. Please go ahead. Hello, Markus and Björn, and thank you for taking my question. The first one is regarding organic growth outlook, given that, yeah, the Ukraine situation and also that the comparables from last year is getting tougher. Specifically, if you want to comment about the life science in the EDS business being a bit weaker here and also the manufacturing business in Product Information. Yeah. Hi, Stefan. The outlook regarding organic growth, as we're commenting in the report, we do see a positive outlook going forward, even though the global uncertainty has certainly increased over the past time, and we don't know how the market is going to develop due to that. Obviously, the Russian invasion of Ukraine, and possible sanctions, and the ongoing sanctions related to that and how that can affect our customers and us in turn. As we've mentioned in the report, we don't have any operations in those countries. We don't have sales to those countries, so we're not directly affected by the situation. Obviously, with sanctions ongoing, this might affect us going forward. It's difficult to say. What I comment in the report, that what we can see now, we, despite the situation, still see a good and healthy demand for our services. We see that the R&D and innovation requirements from the customers and the demand is they are still on high levels, and they are prioritized. Another part of our organic growth is, of course, that we do see a large interest for people joining Semcon and that we can grow through more employees. We also see that ongoing, even though we have a very attractive competence in Semcon that many will want to take part of and maybe recruit. We do see a healthy growth there as well. Commenting on the life science part, we do see a bit of, you know, stabilizing growth in life science or on the same levels. It's rather that we have worked towards new customers, as I mentioned, towards the public sector, which has increased. I know that we have a few large customers within life science. We don't want to create a too large dependency on single customers either that we've had historically. We are working into new areas and new industries. That's affecting the growth in the other large industries that we've had previously. That is also one effect that we see in the life science. In general, I would say that the demand from life science customers are still on healthy levels, and we don't see a downturn there. Looking into the manufacturing of Product Information, same thing there that we do see a bit of movement between different customers in the quarter, but nothing large that we have to report on that would be a downturn in certain customers. The only one that we have reported is, of course, the larger U.K. customers, where I also said that we have been able to compensate with new assignments and new customers. That was not the downturn of the sales there was not as bad as we thought in the beginning and according to our communication. Been able to handle that situation better than we initially saw. I hope that that's the answer to your question. Very clear. Then I have a follow-up also on the margin in the EDS business, which was very strong here in the quarter. Is there any element of price toward customers coming in before wage increases that we should think of going forward? We've been working on our gross margin in the business area quite intensely over the past years and have a good effect from last year, where we've seen, you know, continued improved margins in the business area. That is, of course, something that is relating to price increases, and we continue to work with price increases. That's something that I think that all the customers that we work with are aware that we need to raise the prices, and we're able to do so as well. We have those discussions with our customers. As you know, the competence that we are providing to the market within digitalization, product development, production optimization is really sought after, which means that we are able to raise the prices that we have, too, of course. Partly, the margin is a gross margin increase, but also an increase in productivity, meaning that we are able to raise the utilization in the business area as well, which gives us a good effect on the improved EBIT margin. Okay, perfect. Thank you for that answer. That was all for me. Thank you. We have one more question for the line of Peter. Gästrin from Danske Bank. Please go ahead. Hello, Peter here. Could you maybe talk a bit about the organic growth you achieved in EDS in the quarter? Could you maybe give a bit more flavor, price increase versus utilization increase versus like number of consultants? I mean, we have been increasing all those parts. We are not, you know, providing that breakdown in the report and as such. In general- Maybe just a bit flavor on it, like where is it coming from so one could get a better feeling like you are growing organically, but, you know, why is it not more, considering that, you know, prices should be up? Your margin is great, so you should have a good utilization rate. What's holding back? You mean that the organic growth is 6.6%, which we believe is quite healthy. I think that all these parts that you are mentioning with price increases, the productivity and also the number of consultants and the increase in that is contributing to that growth. I'm not saying. I would say that we are, you know, very confident in the fact that we have delivered quite a good quarter for Engineering & Digital Services with record high EBIT margin and also total growth and organic growth, which is, you know, if we look at comparable companies, in line or better. Great. Thank you. Thank you. As there are no further questions, I'll hand back to speakers.