Hello, Jussi. How are things? A busy morning, I take it? Yeah, hello, and a pleasure to be here. Thank you for asking. Of course, it's a busy morning, as Summa Defence's First Half-of-Year Report came out. On the other hand, that's the life of being a listed company, so obviously there is a lot of interest in what kind of numbers and information we are publishing. That's how it goes. Yeah. Without further ado, please take us through your presentation. Thank you. First of all, happy to be here. As mentioned, in my presentation, I will go first through a little bit about what Summa is and what's the history of Summa, and then raise up some highlights and maybe key elements from the first half of the year, as Summa was doing the revised listing. The numbers are maybe not so easy to understand what's behind those, so that's why I try to be a bit open up of those. First of all, if we are looking at Summa Defence as a group, it's a group of companies, as you can see from the slide, considering there are several different companies. If we start from the left side of the screen, we have Lännen Tractors and Aquamec. Basically, this is a multi-purpose vehicle production facility located in the southern part of Finland, with 20,000 square meters of production facilities, capabilities also to produce, of course, other types of vehicles than what you are seeing on the pictures. Nevertheless, there we have a long experience from the industry and also some deliveries in the past for the different military usages as well. The next one comes to Nordic Yards, which is basically the shipbuilding shipyard unit of Summa Defence, where we have capabilities to build up the ships up to 100 m from different materials as well, so metal and aluminum, to mention something. We have been working with different authorities in the past many years and have a long, long track record from this business. Also, the outlook, which I come a little bit later in the order backlog, looks very positive on the naval side of the businesses. On the next group company, what we have, Lightspace. This is a company founded and based in Latvia, making AR glasses for different kinds of uses. Maybe here to highlight that we have a strong framework agreement with Rheinmetall, where we developed together the view for the example for the tank commander's view to get more information during the compact missions. Here we see, of course, a big opportunity for us, as we all know the investments that are coming in the market and how much Germany and Rheinmetall are scaling up the production. IntLog is then a little bit smaller company, but very important as well, producing the crisis management spaces for the different kinds of needs. Overall, what I didn't mention at the beginning, we are talking comprehensive security, so not just defence, what happens in the battlefield, but also creating the resilience for the societies to be able to be operative during the crisis situations as well. The next company, SUMMA DRONES, which seems to be in the media, at least one of the most interesting companies. We have just announced as well that we have opened the production facilities in Finland, where we produce or have started our first batch of the drones with our Ukrainian partner. There's test batches first, which we will test in Finland and Ukraine. I would say our strong point here is that we have capabilities to produce and develop further many types of drones. We are not like focused on the one type of drones. We can provide with our partners several types, and not just flying, also the ground and naval type is in our focus. The last company, group company, Meriaura Energy, or Summa Energy today, is a heritage from Meriaura Group from this revised listing process. It's also an important part of the group, as we all know, in the crisis situations, you need to have capabilities to produce energy off-grid solutions as well. What comes to the synergies, for example, with the IntLog, there are clear synergy opportunities to develop these two companies further. Our business shortly, I mainly explained it already through the companies. As we know, in the modern battlefield, the situational awareness and reaction for that, either it's mobility or defence protection, it's a very important key element today. As I mentioned, this comprehensive security, so security of supply, that's even more than important. If you don't have the logistical support and other elements in place, then the battlefield capabilities are not too long-lasting. Growth drivers, the geopolitical situation today is very challenging from many perspectives. To highlight something, of course, Europe generally needs to stand up, and there's a lot of needs, not just in defence, where there are also big needs, but also in the security side, like critical infrastructure, safety topics, and all other crisis management areas as well. NATO has decided to increase the spending a lot, which will create more opportunities for Summa Defence. Generally, if we are looking at the war in Ukraine, I guess everyone hopes that that will end as fast as possible. We have to look further also. Even if the war would, and hopefully will, end today, there is still a huge need for different countries to increase the capabilities and the materials in warehouses and also the reconstruction, demining, etc., in Ukraine as well. As mentioned many times already, we are operating and looking at companies which are dual-use companies, so can provide the solutions, products from both sides on the battlefield, but also in civil society. We believe that there is a big need, and we have seen a big need for the actor like Summa Defence in today's defence business environment. Summa Defence, one of the key drivers for the growth, so we are the growth company definitely, and looking for the fast growth in future coming years as well, is the M&A actions, operations, where we are seeing a lot of interesting companies. There are small, medium-sized companies, which many have very good products and capabilities, but maybe they don't have enough resources to scale up or enough financial background, or they don't have enough courage to go alone to grow. Summa is offering an excellent platform and support for these actions. Also, what's important for Summa when we are screening the companies which could be part of the Summa Defence in the future is that the owners are committed to stay in the company and they see the growth opportunities. We are not the way to do the exit for the entrepreneurs. We are a way to accelerate the growth and find new potential sales and growth opportunities. If we jump to the first half of the year, as mentioned, this might be, if you look at the official numbers, very difficult to understand what's actually behind the companies, as do the revised listings. Summa Defence is having in this first half of the year numbers still marine logistics from Meriaura numbers, which is divested from the business. We have renewable energy full half a year as well, and only like three weeks from the middle of June until the end of June, these Summa Defence daughter companies, which I explained at the beginning. Therefore, it's important maybe to have a look at these pro forma numbers where we indicate how the Summa Defence as a group would be if it would be created 1st of January. That indicates the change and the direction where the company is going. First of all, we have a strong financial position at the beginning in the part of the listing process. We were raising investments, EUR 28 million into the company. Balance sheet in the end of June, a bit over EUR 300 million. Basically, the company is net debt-free. This gives us, of course, a good position to continue the investments for the growth, which we have done heavily on the beginning of our journey. We invested already for several new facilities to scale up the production. Same thing if we look at the now the pro forma net sales numbers. This indicates 35% growth for the companies compared to the 24% for the first half of the year. We have separated here the renewable energy, which remains and came from Meriaura part of the transaction. Then we have these continuing operations on the left side, which shows these new Summa Defence daughter companies. 35% growth. Of course, we are seeking more growth, but as the listing was executed just middle of June, I would say the start is good, and we expect that the growth continues and continues faster than now. Profitability side, the background of some of the companies, the history has been difficult, challenging. There have been big losses in the past years. Again, here, if we look at the pro forma numbers, we can see clearly that the turnaround has started to happen. It's partly happening, especially with the Summa Defence companies, which was presented at the beginning. We have some challenges. Of course, we have group administrative costs on the top of that, and then renewable energy, where we clearly need to improve the profitability. We have started the change negotiations there to find a way to scale down the cost structure to make it a positive, profitable business. If we look for the order backlog, EUR 161 million. If this and when we are comparing this to our current turnover, it indicates the growth is continuing. We are doing continuously, of course, the sales operations to increase it more. The direction here as well is positive, and we see a clear growth path also here. EUR 300 million is a number which is a number from the history. Basically, the deliveries that our daughter companies have delivered for the different defence and armed forces in the past. Just indicating here the references and background what we have from the history. Summa, even as a group, is the new player in the market. When we are looking through the daughter companies' histories, we can clearly see the references and the deliveries for the defence segment. Of course, we want to strengthen this and be stronger here as well. That was my fast, short presentation in a nutshell. Hopefully, you got the key points, which I maybe would highlight one more time. Official numbers are maybe difficult to understand now due to this revised listing process. When we deep dive into the Summa Defence daughter companies, we can clearly see the growth. We can see the turnaround on the profitability. The order backlog compared to the turnover is also at a good level. We have all the elements ready for the next steps forward. Thank you for that, Jussi. An interesting company with interesting subsidiaries in a very interesting environment. We received a lot of questions here ahead, and we will just divulge questions as they come in. My first question here is, coming back to the net debt situation or net debt-free, as it were, eight subsidiaries, no net debt, will you acquire more companies, or do you envisage that you will invest in the existing eight subsidiaries? That's actually both ways. That's a very good question. As we are the growth company, and we want to grow fast, of course, there is organic growth. Organic growth needs investments for the current companies. It needs support functions to speed up, to get forward. At the same time, we are screening the M&A activities nonstop. We have on the pipeline several companies, which we are investigating and getting more, of course, all the time. Some of the processes are not going either forward. Organic and non-organic growth are both very important for us. Okay. Clinging on to the eight subsidiaries here, and I expose my limited knowledge here, would there be synergies as far as clients are concerned? Obviously, you are a Finnish company, and you have delivered, some of the subsidiaries have delivered to the Finnish national defence. Will there be synergies in customer base? There are synergies, even if you have a quick look at the companies. It looks like those are all in different areas operating. If you look from the, obviously, we want to benefit from the connections and networks on the customer side, what we have. Also, on the operational level, there are clear synergies between the companies. Not all, of course, between each other. For example, if we look from here, the Lightspace and SUMMA DRONES, obviously, the AR glasses solutions are suitable also for the drone activities. Energy solutions compared to the IntLog crisis, space solutions, there is a clear need for energy when you have an off-grid accommodation example, etc. Also, when we are talking autonomous vehicles, which could be something produced by Lännen or could be also Rasol. There are connections for both for drones and IntLog products. A bit deeper diving in, there is clearly also this aspect, which is important. Still, of course, we are seeking more, and all the companies have their own operations at the same time. How we are building up the Summa Defence as a group is not only because there have to be some synergies between companies. More, there have to be appetite for growth, good products, and then clearly opportunities are there to take. When I hear you answer here, one could envisage that there would be some synergies to some point, at least in the R&D, if you mentioned the Light and the drones, for instance, and the systems there. Is that correct? That's correct, of course. The main idea in Summa Defence is that we are not forcing all the companies. It would be difficult because they are so different. We are not forcing the activities to put together. When we see clear benefits for both companies, it makes sense to combine some R&D activities, which we actually have done already. All right. You mentioned Lightspace and Rheinmetall. Just to clarify there, are you a subsupplier to Rheinmetall, or are you cooperating with them in certain areas? How does that work? We have a frame agreement. It's public information. That's why I can mention it here as well. You can find it from the internet as well. A frame agreement to develop the view for, for example, the compact vehicle commander to have the information and visibility around the vehicle and get the needed information. This is something we have joined as a development project. Obviously, as we are together developing it, when Rheinmetall in the future and now are doing heavy investments and production increase, of course, we expect that we will see that as well as a growth of Summa Defence. Okay. Interesting. For those who are not aware, obviously, Rheinmetall is supplying the main battle tank, the Leopard, and obviously, Germany has committed to increase its land forces there. If we look at the competition here, and also coming back to the subsidiaries, you compete in every area, or are there more Summa Defences out there, if you understand my question? I think we compete mainly with the separate entities. I haven't, of course, in the market, you have big players in the defence segment. We are a little bit different type of actor. We are quite fast and flexible to create different kinds of competition advantages for us. These subsidiaries, of course, there are some cases when we are talking smaller purchase processes. The main competition is with the local subsidiaries. On the other hand, when we are talking about the bigger deliveries, we are meeting the international companies as well. It's very difficult to indicate just one company who would be our main competitor. I don't think so. That's existing. In many cases, also, there are clear cooperation possibilities or sales opportunities for us with the big players as well. That is, in many levels, actually, our sales work. You aim for high growth. It's a high-growth sector. What are the bottlenecks you experienced so far? If we look to the market, of course, there is a high demand at the moment. At the same time, if we talk clearly only the defence side, we all know that it's long purchase processes. It's governmental cases in many cases. There's no fast road to win those deals. Those need time. Those need trust. Those need quality products. Clearly, the need is there, and there are not enough companies to provide the services. What's the needs at the moment in the market? Here comes also the reason why I'm talking the comprehensive security. I'm talking the dual-use product. With the same products, we can also compete in the civil market. There can be critical infrastructure competitions. There can be some other civil society needs where, with very small modification, the similar products are fitting very well. This is a faster way to increase the growth, of course. As said, we are advancing it in both ways. I got some questions here regarding the drones. Let's see here. What are the planning for the maritime section, seeing how you have access to not one, but two sites for production of the smaller boats and maritime drones? I don't know how much you can elaborate on that, but drones are red hot in this area. Of course, I understand it. We can clearly see that what the war in Ukraine has shown us, the drone and generally the autonomous vehicles, either it's flying, ground going, or sea drone, that has had a high technological leap forward. We have started now our drone production with the flying drones, so a copter type of drones. Of course, having the strong company on the naval side, Nordic Yards, clearly we have ideas and high interest also for the naval drone development. In the end of the day, the knowledge of controlling and operating the drone is similar, even if it's flying or going in the sea. Definitely a very interesting area, and time will show where we end up on that. Yes, I will assume that one has to watch the press releases here. That's a segue to another question. You mentioned the strong order book, but given the nature of the clients, particularly when it comes to defence, the contracts may be over a long period of time, I take it. How will you communicate to the market the order book, and what can you say? Basically, what I'm driving off here is that there are some sort of restrictions on what you can communicate, for instance, if you have a deal with the Finnish Defence Ministry or indeed the Swedish or the German. How would you walk that tightrope? You are definitely right on that, that when it comes to the sensitive information, that's not allowed to communicate. On the other hand, we have to follow the rules of NASDAQ as well and communicate to the market what's possible. Normally, how we will communicate the order backlog and then the bigger orders, at least there is a, when it's big enough, there is a volume, like how many millions we are talking. There can be the length of the delivery, not in all cases, because that's also variating a lot between the companies. If we talk again like naval deliveries on the shipbuilding, everyone understands the shipbuilding takes some years or a couple of years at least. When we are talking delivering the drones or maybe the multifunctional machines from Lännen Tractors or Aquamec, the delivery time is much shorter. We are talking some months or even some weeks. That's, of course, a challenge to communicate, but we try to balance it so that the investors are happy and getting enough information. On the other hand, we have to keep the good relationship with our clients as well. If we look at the, let's say, the stickiness of the business and the length of it, you recently announced a deal between IntLog and the Finnish defence sector for non-heated rune house training facilities. How did you win that order? Was it a tender order, and was it in competition with many others? The follow-up question would be, if it's a tender, are you able to bid on, let's say, training facilities in Germany or in Italy and Sweden? Many times when we are producing or offering something for the authorities, those are tender processes, which are open for many competitors. Definitely, when we have won this, it creates the reference and creates the sales opportunity also for Germany or any country in Europe, definitely. When we go to the civil segment, the sales process, as mentioned, is a bit different. It's faster processes. Again, the references from the defence industry are very important. I take it, let's say, the contract with the defence sector would be fairly sticky because it will be over a long time. The payments, installments will be pretty secure, I take it. Thank you for that, Jussi. The next news for you, apart from the next coming quarter, what would you like us in the market to look for as far as Summa Defence is concerned in the coming quarter year? I would like to see not just the market to look. I like to see how the company is developing further. Of course, we are seeking strong growth. Growth indicators have to be up. Profitability, turnaround in the companies need to be strengthened. It needs to be going to the better direction. Those are, of course, important. The order backlogs, that we have a solid order backlog, which indicates compared to the turnover that says that we are growing. Those things I would recommend to have a deeper look. Hopefully, the quarter three numbers are a bit more easier to understand then because that's the first solid numbers as Summa Defence, which is not mixed from the historical numbers from Meriaura. More clarity ahead would be the message there. Right, Jussi, thank you very much. Extremely educational and very exciting area here. Thank you. I will say thank you to all you listeners and those who have asked questions. See you later and thank you. Thank you.