Good morning, and welcome to this fourth quarter report from Sivers Semiconductors. My name is Anders Storm, and I'm going to lead you through this presentation, and we will, as normal, have Q&As after the presentation. To start, to summarize the interim report for Q4 revenue came in close to SEK 30 million, which was 17% year-on-year increase. A really strong EBITDA at SEK 3 million plus with adjustments, of course, for the social fees down to SEK -3 million, but that is a clear growth in that sense, and I get why. Also in the quarter, we had this really important 5G deal with 8d evices for the U.S. market, which we have estimated to an order value from 8d evices for SEK 70 million-SEK 100 million over the coming three to four years. We are now at 21 5G design wins total. We have got two new orders, one in October and now recently in January for SEK 15 million from our first Fortune 100 customer. We also strengthened the balance sheets a lot by converting the convertible bond, and we have close to SEK 250 million cash in bank after the quarter end. Photonics have also been able to have a new research project within quantum technology, which I will talk more about. We also have two new orders for beamformer ICs for Taiwan and India lately, which is showing that the new beamformer product is going forward. Looking at the numbers, growth 17% on net sales, which was really good in that sense, even if the pandemic is raging and the second wave is not making it easy for many companies. We've been able to capitalize on what we're doing so far, and we're going forward. EBITDA was SEK +3.1 million, but there we have an adjustment, of course, for social security fees. You who follow us have seen that it was the opposite last quarter, and that's connected to the share price going up or down. If the share price goes down, we get social fees reservations back and vice versa. Adjusted for that, it was SEK -3.2 million, but still it's an improvement. The adjusted EBITDA is an improvement of SEK 15 million from last year-on-year, which is a lot due to savings that has been done. Even if we actually are spending quite a lot right now on the work getting into Nasdaq, we're still being able to keep an improved profitability. Photonics have been able to in-house the production for some parts, which is saving a lot of money. I think it's a total of SEK 12 million over the year. Then also being able to increase prices due to really good products through the customer increasing net margins, and so forth. Operating income actually was also very close to being sort of break even. In this case, we improved the operating income by SEK 22 million compared to last year, which is really good. If we look at the full year, we repaired some of the COVID issues for the year, and we came in on a flat year, which I think is quite strong in this situation. We also improved the EBITDA. If you look behind the curtain on the socials expenses and so forth, it's actually SEK +20 million in those numbers. Looking at the operating income, like [the deck said] said that we did a large loss for the year, but you have to look at the sort of the effects of the embedded derivatives and the convertible bond that is a sort of provision and so forth, which should not affect the operating income. The actual loss was SEK -56 million versus SEK -72 million last year. That is a very good improvement. Cash in bank is very strong, and it's really good to have that in our back now going into the Nasdaq, and working hard to get on Nasdaq. More about that a bit later. If we look at the segment reporting for the quarter, it's very clear that we have been growing in both areas this quarter, 42% in wireless. That shows that our 5G stuff is moving forward. Photonics moving up 11%, also good performance. We have increased a little bit quarter-on-quarter for North America to 68% and just a little bit on Asia. We're seeing more movements in Asia, but it's haven't sort of come through yet in the results. In general, I think we are in a good trajectory and looking to increase growth for the future, of course. If we look at the significant events during Q4, Ampleon, the conversion was done, which was really good and at a good level. We also changed the name from Sivers IMA to Sivers Semiconductors, which everybody knows now, and that has been even more good, I think, for the company compared to what we thought. The whole rebranding and everything really gets our name through much better everywhere, and everyone understands now what we are doing and what we're working with, which is helping the company both from a sales perspective, but also an understanding in the stock market. We also received a five-year order from Siemens. We had this really interesting order I mentioned from 8devices for 2D RF modules in the 60 GHz bands. We've received our first order in India from our reseller and from the customer, Astra Microwave. We had an order for SEK 4 million from the Fortune 100 in Q4 and plus two interesting future research project within Quantum, one for atomic magnetometers and one for lidar systems, which we'll see long-term how we can capitalize on that in our Photonics business. The 8devices fixed wireless access product is quite an interesting thing. The U.S. market is now on the brink of starting using this technology in volumes. This product will then be used all as the small cell and the home CPE unit and deliver gigabit speeds to the home. This is a full contract with everything included when it comes to production and pricing and all of that. The end customer to our customer is in the U.S., and the R&D in this case is going very quickly, and they go very quickly forward, and they already have prototypes and hardware now. It's going to be less than 12 months from start of project to getting finished product here. That is quite unusual and really good that the company can show that they can move so quickly. Volume rollouts is expecting starting from Q3, Q4, we already have an order as well for deliveries in Q2 with some smaller volumes though. It's using our newly launched 2D module that is 57 GHz- 71 GHz spectrum, which is still, I would say, one of the most advanced modules compared to some of the legacy companies out there. If we look at Photonics then and the Quantum projects, all of these things are research, and we do it together with different organizations. We will probably not for many years see products here, but we're building for the future, and it's important to build and look at new technologies and how we can affect that in this space. Quantum is becoming quite a hot area, and we have a really good R&D organization to handle these kind of things. It's also something that all our PhDs, as you know, we have 20 PhDs in the company, really look forward to be part of a very high-tech future project, as well as the other things we're doing. Another ongoing Quantum project is the quantum key distribution solutions, which is a way of connecting data communication in a very secure way using quantum stages. Here I've put the picture in from Inside Quantum Technology, their estimates in different areas for how QKD can be used and so forth. We are looking to see how that type of things we have could be used in the market. We don't have a guesstimate just when we can see anything on that into the market, but we are working on partners and so forth as we have only the chips today and so forth. We need to create the whole system level thing to be able to be used in the networks, of course. If we look at the events after Q4, we had the second order I talked about for the Fortune 100 here of SEK 11 million. That totals now SEK 85 million from that customer. We got also a new five-year order in from Taiwan. We have also recruited a new MD for our business. It should say MD there, not CEO, for our wireless business in Sweden to give me more time to focus on the listing process and the stock market and other things around the overall group business. If we look at the Fortune 100 customer, again, as I mentioned, two orders now recently. We are still negotiating pilot lines. Unfortunately, I don't have any sort of new information on that. This will take time. As I said before, this is a long process. In total, it can take up to four years before we get into volume. We've done a bit over two years now. Photonics is, however, right now making CapEx investments to make sure that we are upgrading everything and working on securing that these pilot lines later on can be in place as well. If we look at this picture I've shown before, now we added two more orders here. We started the first project in October 2018. We are adding more and more things in there, and it's going really well. The customer is quite happy what we're doing. They have invested SEK 85 million so far, which is a lot of money just for R&D. We also received this other Fortune 100 order in April last year. The delivery has gone really well. They now are looking at taking the next steps here. We're looking forward to see if we can make the next step here in from the research phase to the product development phase or not with them. We feel hopeful that we have done a really good product for them. We'll see where that goes off in the next step. If we look at the design wins, we are at 21 design wins now. I can't go through every one of them, I can give you a short update in certain areas. Adtran and CCS, as you know, they are out there and they have a working product. They are installing it. I think it's six or seven places right now that I know of that they are rolling out. It is moving ahead, but they have, of course, been affected by, and specifically in the trials, I know that they've moved many trials forward due to the corona in itself. There are insecurities in that. Blu Wireless is also moving forward with the track-to- train applications. The same thing there's not many people on the trains now in U.K. and so forth. I think that they moved forward a lot of the investments in that piece into 2021. We hope to see that materialize in 2021 instead. Cambium have actually put in an order now for volume, and we're expecting them to be out in the market here quite soon with their product. We also have the East European company, a very similar technology there at 28 GHz, and we also see that they are on the brink of getting products out, which we will hopefully be able to tell more about soon. I'm also going to show you a picture of the new Fujikura product. We expect that one to be in the market in Q3, Q4. We have some other products here. I can mention Ampleon. They are still working on getting inside any tier 1s. As you've seen, the product we built with them, we are now winning and testing it out, and we are in a place where the product is actually now in the market. You've seen the two latest press releases on that product for tier 2, tier 3 companies. That is, of course, interesting. If you look at Airvine, we go down a bit here. They have now won, I think, 20 proof of concept with customers that they're rolling out right now, and they're on track to volumes in the second half this year. That's really positive. We can see many of these are moving ahead, and as you see for the [Downlink] Devices is also there, and as I mentioned before, that's going to be rolled out in end of the year in full volumes preferably. We have a very exciting year coming in here. We have a lot of other products going on and working really hard with them. Plus, a really interesting pipeline with a lot of customers where we can see potential new design wins coming in for the year. Here you can see some of the European roll-outs that Adtran and CCS is working on. We have the one in Sweden here and a couple of them in the U.K. This was from 1st of January. It's a year ago that was actually allowed to start using this network due to licensing in Europe was allowed from them. It's started quite well, but I think it will be more and more adopted as we go on, and we can show really good usage of these technologies. It's still in early phase, but Adtran and CCS is pushing on, and I would say they are doing that all over the world as well. We'll see more of their roll-outs during the year. This is the new Fujikura product that was launched recently. We're seeing volumes from them, I would say, in Q3, Q4. It's good to see now that they have taken this product out to the market. Being Japanese company, they are very, very rigid and want everything to be 100% correct. They take everything very easily or slowly in that sense. It's very positive now that they come to this phase. Airvine, as I mentioned, they won the best enterprise solution with the design win we have. It's a multi-gigabit data transfer via and through walls. You can use that indoor to replace traditional cabling. We expect volumes from Q3, and they are in 20 early access partners who are trying this out. We've even got companies from Sweden asking to get in contact with them. It's a really interesting product, and I think that will be a surprisingly interesting market that they are opening up, even if they are a small company in that sense. Nasdaq, this is what me and our CFO, Robert, works a lot on right now, and also the rest of the company have done a lot of things. We've finalized the pre-audit with the auditors, and we have done a lot of changes based on that over the last three months. You've seen changes in the board, for example, and different things, adding new things into that, taking new policies and so forth. We had a kickoff meeting with Nasdaq this week, with the auditors and Nasdaq themselves, that is really good. We started the last part of the process. Of course, it always takes some time, and it's not us who decides everything. It's the auditor who will say if we are ready or not. We're doing whatever we can to be able to enter the list, of course. The auditors report that the legal due diligence have started, tax due diligence have started. The target is, of course, to be approved by the listing committee then. Right now our time plan is pointing at June, but of course, it's not really up to us. We do whatever we can to secure that. Now when we're in this tight process and spending this much time on it's important that it's done in a correct way. Here's also an update of the shareholders. I'm really happy to say that we have added more and more retail as well as institutional investors. I think just looking at Avanza now, I think we have almost 16,000 retail investors on Avanza and probably 20,000 in total. We have 90% is now institutional investors, and we get more and more in and was very happy to see that the Third Swedish National Pension Fund joined us with a small stake here recently. We're moving ahead in that direction for the listing, of course, and adding more shareholders as we go forward. I've been talking about this. Why do I see that 2021 is going to be one of the most exciting years in the company history? I assume when you listen on what we're talking about here, we are doing a lot of things. I mean, the Nasdaq main listing, that's going to be something that never happened in the company's history before. Getting ready for that is a big thing and it really helps the company also to shape up in all processes and so forth. We are also, at the same time, hiring a lot of people. I think we have 17 open positions now on our webpage. Four of those are another exciting thing, open our first office in the U.S. since we have 68% of the sales there right now. We're moving in and we need to do so. We are currently interviewing for four positions there, and it looks really good, and there's a big interest. The customer sales funnel in all aspects looks better than ever. We're really getting the message out, and the market is becoming more and more mature for everything we're doing. It feels like we are at the right time at the right place, which is very important here. We're moving the design wins into volume orders now. That's going to be really exciting to see. We are not the one who steers that, of course. Our customer and the customer have to be successful for us to be successful. I think it looks really promising and with some clouds on the horizon with COVID and stuff still. I think that should move us in the right direction for the year. Also the talks and the negotiations with the Fortune 100 for pilot lines are ongoing. If we can settle that during this year, which we hope, of course, we can never promise anything. If we can do that's going to be, of course, an extremely important step and a transformation of the company for the future as well when we get to that. If we're looking to summarize the year, this Q4 really strong EBITDA improvements, which I'm really happy with. Specifically, the Photonics team have done a fantastic job with getting to a profitable EBITDA over the full year actually, which is really strong. 2020, I think the revenue coming in on a flat is really good. Even if you look at the dollar who have fallen a lot over the year in percentage-wise, and we're still also that effect that we haven't talked about here. It's really good to get in that place during this year, which has been very strange in that sense. We're still totaling 21 design wins. I should actually say nine plus. It was 12 this last year and nine plus net for the year. 150 sold 5G EVKs during 2020. That's a huge number. I think it's more than three times than last year, which is then showing that the EVKs we're selling goes into the pipeline. Of course, all of these are not sold to customers that could go into volume. It's universities and all of those things. At the same time, it is a really good thing to get into universities because that is our recruitment ground and an understanding of what we're doing. Those people get out into the market in the future and building long term it's really important. The Fortune 100 customers progressing really well. We have SEK 250 million cash in the bank, we are leaning really forward now to use this situation we're in. I feel very confident that we are moving into this really exciting year in 2021. Thank you for listening in. I'm now on my way to the next things, and we will see interviews online later on. Have a great day.
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