Welcome to the Sensys Gatso Group Q4 2025 report presentation. For the first part of the presentation, participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key five on their telephone keypad. If you are listening to the presentation via webcast, you can ask written questions using the form below. Now, I will hand the conference over to speakers CEO Lewis Miller and CFO Simon Mulder. Please go ahead. Good morning, and welcome to the presentation of Sensys Gatso Group's Q4 2025 interim report. My name is Lewis Miller, Group Chief Executive Officer, and joining me this morning is Simon Mulder, our Group CFO. To start our presentation, I'll provide an overview of our Q4 and full year results. I'll then turn the presentation over to Simon to review the group's results and segment reporting in greater detail before addressing our financial outlook for 2026. Q4 marked our third consecutive quarter of strong performance, allowing us to close 2025, having made significant progress towards our operational and financial goals. We delivered profitable growth, improved our cash position, saw solid order intake, and are participating in ongoing procurement activities across our core markets, all of which has generated momentum heading into 2026. While we will continue to experience some quarter-to-quarter variability driven by seasonality, contract timing, political factors, and foreign exchange movements, our focus remains on delivering consistent and reliable results. With the strategy announced in our Q3 report, our technology portfolio, and our talented and experienced global team, we are well-positioned to continue making progress in 2026. With that said, let's take a look at our specific Q4 and full year performance. Starting first with revenue, Q4 landed at SEK 198 million, in line with expectations, with full year revenue growing to SEK 719 million, a 14% increase over 2024. In constant currency, full year revenue was SEK 757 million, up 20% year-on-year. Later in our presentation, Simon will provide more detail on currency impacts. Key revenue drivers for the quarter included significant contributions from our Swedish and Dutch projects and recurring revenue growth from our global maintenance contracts. Turning next to margin, Q4 continued a trend of improved profitability. EBITDA for the quarter landed at SEK 37.4 million, a 19% margin and up 52% on Q4 2024. We continued to benefit from economies of scale in Sweden, significant contributions from our global maintenance contracts, and improved operational efficiency in the United States. For the full year, EBITDA reached SEK 109.2 million, a 15.2% margin that is up significantly from 10.4% in 2024. Looking at order intake, we saw progress on expanding our recurring revenue base of approximately SEK 100 million per quarter. Intake for the quarter amounted to SEK 151 million, SEK 104 million of which is recurring revenue, with SEK 73 million of this recurring revenue incremental to our base. Highlights for the quarter included new customers in Pennsylvania and the United States, as well as an expansion of our work with the South Australia Police. For the full year, order intake amounted to SEK 729 million, contributing to our strong backlog and positioning us well heading into 2026. With that said, I'd now like to turn the presentation back over to Simon for a closer look at our results and segment reporting. Okay, thank you, Lewis. I will take you through the Q4 results, our segments performance, underlying growth and currency impact, and our cash position. Q4 has been a strong quarterly performance, with revenue reaching SEK 198 million or SEK 214 million in constant currency. Our underlying growth, adjusted for foreign currency effects, was 8% in the quarter. Our gross profit reached 44% due to continued deliveries on the Dutch and Swedish projects. We've had a strong EBITDA performance of SEK 38 million, with an EBITDA margin of 19%. Due to a strong conversion of working capital, our cash flow from operations reached SEK 107 million in the quarter and SEK 125 million for the full year. Moving to the segments, with Managed Services, we've seen consistent execution, and we've had improved margins. Our order intake landed at SEK 74 million, of which SEK 67 million incremental order intake on expansions and new customers, and SEK 7 million in renewals. Revenue at constant currency landed at SEK 53 million, having a negative currency impact of SEK 7 million in the quarter. Quarter-on-quarter, revenue increased by 4%. EBITDA reached SEK 9 million for the quarter and a 19% EBITDA margin on improved operational efficiency. Our system sales segment has seen top-line growth with margin expansion. Order intake for the quarter landed at SEK 77 million, driven by an Australian order intake of SEK 29 million and multiple smaller repeat orders in the EU Revenue was up by 6% to SEK 152 million, driven by deliveries on the Swedish project, rollout of Dutch projects, including additional mobile unit sales and average speed. Our maintenance performance in Saudi has seen an increase due to the addition of more systems to the maintenance schedule. EBITDA totaled SEK 23 million for the quarter, up 92%, driven by economies of scale in Sweden and an important contribution from the Saudi maintenance activities. We've seen a 20% underlying revenue growth. During 2025, the Australian dollar and the U.S. dollar was down by 11%-15% against a strengthening Swedish Krona. Due to a good currency mix in our revenue, the overall impact was approximately 5%. The currency-adjusted full year revenue of SEK 757 million is slightly above the midpoint of our 2025 financial guidance. During 2026, we will continue to report on constant currency with the euro at 10.75, U.S. dollar at 9, and Australian dollar at 6 against the Swedish Krona. We are mitigating currency headwinds by maintaining sufficient levels of foreign currency for ongoing operations, and are currently weighted more towards the Swedish Krona, with more than 50% held in Swedish Krona at the end of the year. We have an improved available cash position of SEK 240 million at the end of the year, compared to the opening of SEK 203 million at the beginning of 2025. Cash flow from operating activities totaled SEK 125 million, driven by working capital improvements of SEK 56 million. Investments up to SEK 96 million have been funded by the bond proceeds. Interest-bearing debt ended at SEK 209 million, with significant translation effect on the euro bond, moving from SEK 338 million to SEK 320 million in the year, and reduced usage of credit facilities, moving from SEK 20 million to SEK 7 million at the end of the year. Our closing cash position on bank was SEK 160 million. With that, I'd like to hand it back over to Lewis. Thank you, Simon. To conclude our presentation, I'd like to address our financial outlook for 2026. In 2026, we anticipate that the Swedish Krona will continue to strengthen against our other major currencies, in particular, the U.S. dollar. Despite this headwind, we expect continued profitable growth with revenue in the range of SEK 750 million-SEK 800 million and an EBITDA margin of 14%-16%. We remain committed and confident in our ability to deliver in line with expectations, as always, we'll continue to closely monitor market developments. To summarize our interim report today, 2025 was a successful year for Sensys Gatso. We saw strong revenue growth and significant margin expansion. We ended the year with an improved cash position and healthy order intake, all of which positions us to continue making progress in 2026. With that, I'd like to open things up to questions. If you wish to ask a question, please dial pound key five on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial pound key six on your telephone keypad. The next question comes from Ørjan Rödén from DNB Carnegie. Please go ahead. Yes, good morning, everyone. My first question is related to managed services. It seems it's still challenging, although we know that there is a heavy burden in FX in this business line. How would you describe the current state of the U.S. market for managed services currently, and when do you kind of expect a growth to be more meaningful in underlying terms from the U.S.? Thank you. That's my first question. Good morning, Ørjan Rödén. I'll take that first. Simon Mulder, feel free to jump in as well. Yes, we do face some currency headwinds in the U.S. In terms of the market as a whole, procurement activity remains high. We're participating in that procurement activity. We did have some success in Q4, which we now need to convert through timely implementation. There remains strong demand in the market in the U.S. for automated enforcement services, and we're participating actively and expect to capture our fair share of that market. Okay, thank you. Second question is related to system sales, and the sales number. How much of the contract to Trafikverket roughly have you delivered so far? What's your overall progression on that contract? Of course, you know that we've started deliveries on the Swedish contract, in the second quarter, and more heavily in the third and the fourth quarter of this year. Although we do not comment on exactly where we are in the contract, I think we are well underway. You of course know that there's a significant amount of systems that need to be delivered throughout the contract term, and we have a long way ahead of us on the contract still. Okay, thank you. Next question relates to the guidance. How confident are you on that range? Are there any potential upsides or downsides relative to the sales forecast, or do you think that the sales forecast will give an year right on effects, that your sales forecast will land within this range? I think the guidance that we've issued, we're confident in, right? It's based on where we are in terms of our current activities, our operations, what's in backlog, what we're participating in from a procurement perspective, or/and that we could convert to revenue in 2026. We have made certain assumptions around a currency and the impact of that as mentioned, which are factored into that guidance. The range offered of SEK 750 million-SEK 800 million, we feel confident in. Okay, thank you. Final question where our housekeeping issue, the CapEx has been for the last three years, around SEK 100 million per year. Is that what we should expect going forward as well as the CapEx level for both in for both for your total CapEx? Yeah, Ørjan Rödén, the CapEx investment of this year was SEK 96 million, right? Which, SEK 42 million in software and the majority part in fixed assets and operations. Of course, we would love the CapEx investment in the fixed assets and operations to grow, because that means that we will be implementing the new programs, right? Have new programs coming online also. We anticipate to be around a similar kind of number for 2026, but of course, we're hoping for more. Okay. Is it fair to understand that maybe the you will shift towards more physical assets related to software? Or do you think that the software also will remain on these levels? I expect the software level to be a little bit lower. As we have FLUX now developed, we're going into customer projects more so, part of that development will be part of projects in the future. Of course, development is an ongoing thing, as we all know, right? We need to keep developing products to stay relevant in the market. Okay. Okay, thank you. That's all for me. Thank you. As a reminder, if you wish to ask a question, please dial pound key five on your telephone keypad. For the next question, please introduce yourself, your name, and company. Good afternoon, gentlemen. PM. Good morning. Hey, good morning. It's Johan Sjöberg, from Kepler Cheuvreux. Thanks, thanks for taking my questions. Sorry, I have a bit of IT kind of issues, so apologies for this. So Simon and Lewis, can you update us a bit on, for example, on your Ghana contract? Is there still, let's say, movement there, or is that already done? Secondly, where do you see, for example, in Europe, maybe upcoming legislation switches, which could drive your Managed Services business going forward? Thanks. With respect to the Ghana project, there's activity within the government in Ghana, to move the legislative instrument necessary for the program forward. That has progressed in, here in the first, month and a half or two months of 2026. We continue to monitor that progression, which is a precursor to the program going wide. That is moving forward, and we'll continue to monitor it. In terms of Europe and conversion to a Managed Services model, probably won't speak to specific markets, but we do see interest in maintenance follow-on contracts to our system sales, as well as service level agreements associated with that can drive recurring revenue. That's something we're always looking at and looking to pursue. Thanks. You're welcome. There are no more phone questions at this time, so I hand the conference back to the speakers for any written questions or closing comments. We've one written question from Christopher at Carnegie: Why was service and maintenance and license revenue so strong in Q4 2025 versus the same quarter as last year? If I may, Lewis, I'll answer that question. Yeah. The difference is that, and we've also mentioned that in the presentation, is that we now have a service and maintenance business in Saudi, right? After the deliveries in 2018, the first contract in Saudi, and then in 2020, the second contract in Saudi, and having delivered all of those systems, they now go into a service and maintenance contract. We see that revenue slowly but surely increasing every quarter as more vehicles come into service into the service schedule. That's the reason why we see an uptick there. I think that's it for questions on the board. Yeah. Well, thank you. Thank you everyone for your time today. I think we'll wrap it there. Have a good day!