Yes, hi. We would like to welcome our existing shareholders, potential new shareholders, and the general public to sunny, beautiful Gothenburg, and this presentation of the first quarter of 2021 in Thunderful Group. Slide two, please. Today's presenters are these two guys. It is me, Brjann Sigurgeirsson, I am the CEO of Thunderful Group, and it is Anders Maiqvist, the CFO of Thunderful Group. Slide three, please. Let us start by looking at the key highlights for the quarter. Slide four, please. The highlights for the quarter is that we have a good EBITDA profitability for both segments, games and distribution, and we have strengthened our management in several positions, and we have made the strategic acquisition of the German game publisher Headup. Slide five, please. In more detail on the key highlights, you can see that our operating income is up 8%. Here, the game segment is up a whopping 119%, whereas distribution stands still. Our adjusted EBITDA is up 15.5%, and our adjusted EBITDA is up 11.7%. As mentioned, we acquired Headup in the first quarter. Headup is a German game publisher and game developer, and it's led by game industry veteran Dieter Schoeller, who now also becomes the overall head of publishing in Thunderful Group. That means he's responsible for all our publishing, both for internal and external game titles. We've also strengthened management on the distribution side as Henrik Mathiasen, who is already our head of distribution in the group, becomes the new CEO of our subsidiary Bergsala. Henrik leaves his position at Nordic Game Supply, whose new CEO is Morten Stig Grønbæk Johansen, who's been with the company for many years already. In my view, all of our new managers are brilliant. We're already seeing forceful efforts and good results. In key figures, I've already mentioned that our operating income and adjusted EBITDA are up. The same goes for our adjusted EBITDA margins. Slide six, please. Let's have a quick look at Thunderful Group and our strategies. Go to slide seven, please. We operate in two segments, games and distribution. While the distribution business covers the Nordic, the games business is global. That means we're selling our games all over the world. As of today, we're around 350 people across Europe. We've released 25 games based on our own IPs, and we have 14 internal games in development at this very moment. Across the segments, we manage a portfolio of around 100 brands, and we have a unique Nintendo partnership for 14 unbroken years. Go to slide eight, please. In terms of strategy, our business rests on three main strategies. For starters, we accelerate investment. We want to constantly increase our investments in game development and publishing. We strive to acquire complementary businesses and IPs. We also strive to acquire gaming companies that continue to operate with a great deal of independence. Second, we keep our IPs and we maintain them. We aim to use our IP rights and brands to also reach outside the gaming space into new mediums. We make sure our products are available on relevant platforms and in proper channels. In gaming, we prefer to work with own IPs. In distribution, we work to increase our share of our own brands. Finally, quality is at the core of what we do, not only in our products, but also in how we do things. We maintain an entrepreneurial culture. We make sure to keep and develop our staff, and we make sure to keep and cultivate our corporations and partnerships. Go to slide nine, please. Let's look at our two segments, games and distribution. Go to slide 10, please. Our two business segments complement each other. Our overarching strategy is to use the strong cash flows both from the distribution segment and the game segment and invest all of it in the game segment. That results in a games segment that is growing rapidly, both in terms of financial results and share of the total, but also in terms of organization. Go to slide 11, please. Here, as you can see, the net sales of the game segment has more than doubled compared to the first quarter last year, going from SEK 30 million to about SEK 68 million today. If you look on the right side of the slide, you can see that the adjusted EBITDA of the two segments are converging. This quarter, games is at 45% of the total. Let's go to slide 12, please. Within games, we do a few things. We develop games mainly based on our own IP. As mentioned, we are convinced that quality is vital to earning success. Our recent Metacritic scores are simply best- in- class among our peers. We also publish our internally developed games, but in addition to that, we publish many games that have been developed by others as well. As a part of our publishing business, we also invest in externally developed games. Investment in external games is an area we want to explore and expand in the future. Investments in games can vastly increase the number of tickets we hold, and we believe there will be strong synergies with the divisions we already have, meaning development and publishing. I think going forward, we will need to recruit wisely in order to take full advantage of these opportunities, and I'm convinced we're well-positioned to do just that. Let's go to slide 13, please. As I mentioned before, we have 14 internal titles in development as of now. 12 of these are based on our own IP. Due to the pandemic, we see slight delays to two of the titles, but they will both still be released well within 2021. Go to slide 14, please. We currently have close to 30 games in our release pipeline for the next two years. It should be noted that these 30 titles are in addition to the 14 games that we are now developing internally. Go to slide 15, please. Yeah, we couldn't really fit all of the coming titles on one slide, so here are the rest. Please note that through the acquisition of Headup, we've added 15 new titles to the roster. If you go to slide 16, we have a quick overview of the distribution segment as well. There are three areas in distribution. First, there's Bergsala that is held the license to sell all Nintendo products in the Nordic and Baltic states. We got the license 40 years ago, and we've been doing it in the Nordics and Baltics since 2012. That's what Bergsala does. There's Amo Toys, our toy distributor that holds, among others, the MGA license with products such as L.O.L. Surprise! Finally, there's Nordic Game Supply that distributes consoles, games, and gaming accessories in the Nordics. Go to slide 17, please. Let's have a look at the financials. Anders, can you do the segment, please? Yes. Thank you, Brjann, and good morning, everyone. Now we're moving over to the section financials. Next slide, number 18, please. In the first quarter, we've seen a growth in net sales with 4% year-over-year, reaching 539 million SEK in this quarter. The games segment has a growth of 126%, while the distribution segment is decreasing with -4%. For adjusted EBITDA, the growth is SEK 5.7 million, or 12%, reaching SEK 55 million. The adjustments in this quarter is SEK -2.6 million from one-timers, mostly related to acquisition costs. The games segment contributes with a growth of SEK 13.5 million, while the other segments are decreasing in this quarter. The segment other consists of costs in the parent company not being distributed to any of the operational segments. For this quarter, it's in total SEK -2.5 million, while it was zero in the comparison quarter. As for operational cash flow, it's decreasing with SEK -3.3 million. Adjusted for CapEx for acquisitions of SEK -49.1 million, the change year-over-year is SEK +45.8 million. The improvements of SEK 45.8 million can be compared to the improvements in adjusted EBITDA, which is SEK 8.4 million year-over-year. There were no acquisitions in the comparison quarter. We've closed the acquisition of Headup now in 16th of March 2021. Move on to slide 19, please. For the games segment, the growth in net sales year-over-year is 126%, reaching SEK 68 million this quarter. Organic growth is stagnating. All the growth in this quarter is from companies acquired in the recent 12 months. Stagnation in organic growth is related to the fact that the most recent significant game release in non-acquired games companies was SteamWorld Quest back in the second quarter of 2019, and since then, the major part of all revenues in the organic companies has come from externally funded game projects and our back catalog sales. Keep in mind, though, that the three externally funded AA game projects being developed in Sweden will all be released in the second half of 2021. Adjusted EBITDA is up 109% to SEK 26 million. This quarter's EBITDA margin of 34% is somewhat lower than anticipated, primarily driven by strong publishing sales, which have lower margins than sales from games developed internally. Finally, there have been no game releases from the development division in this first quarter. Move on to slide 20, please. The core strategy of Thunderful Group is to reinvest the cash flows from distribution segment into the game segment. Since the fourth quarter of 2020, the quarter of the IPO, this strategy has accelerated, primarily driven by acquisitions. It's also so that in this quarter, we see that increased investments in development CapEx, we've actually reaching an all-time high for an individual quarter, but it's still a fact that a majority of our developers are working on externally funded game projects not being capitalized. As of the first quarter, we only have SEK 64 million in capitalized development costs in the balance sheet, even though we now have more than 220 employees within development. Moving on to slide 21 for the distribution segment. The financials show a decrease in net sales of -4%, reaching SEK 471 million. There are high levels of diversification among the three company groups, where Bergsala is decreasing with -34%, primarily driven by the release of Animal Crossing: New Horizons in the comparison quarter, resulting in both higher software sales but also higher hardware sales. Nordic Game Supply, on the other hand, has a growth of more than 90%, primarily driven by the fact that we did not have full distribution of the brand Razer in the comparison quarter. Finally, Amo Toys is decreasing with -15%, but the comparison quarter only had small COVID-19 impacts from March 2020. For EBITDA, the segment distribution is decreasing -11% year-over-year, reaching SEK 33 million this quarter. This decrease is primarily driven by lower profitability in Bergsala as a result of decreased net sales, but also continued marketing investments. As from this quarterly report, we are now presenting the total marketing costs in the group, and the total marketing cost increase year-over-year is SEK 8.5 million, and Bergsala accounts for all of that marketing cost increase. Finally, for EBITDA, we are very happy to announce that Amo Toys reaches almost 12% in EBITDA margin, reaching an EBITDA of SEK 10.5 million. This is driven by strong demand for high-margin spring/summer collection. Moving on to slide 22. This is a waterfall model of net sales in the first quarter of the last three years, and between 2020 and 2021. We see that the consolidated group organic net sales is decreasing with -19%, while net sales from companies acquired within the last 12 months is growing with SEK 38 million. It should be noted, though, that the terms acquired organic are only applicable for the games segment since we have made no acquisitions within the distribution segment, and all of the organic decrease in this first quarter is because of the decrease in the distribution segment. The games segment has stagnating organic net sales in the first quarter. Moving on to slide 23. Another waterfall model, but now presenting development of adjusted EBITDA, in which all growth is related to games companies being acquired during the last 12 months, while we see a decrease in both organic games and distribution. The EBITDA margin in games affected by strong publishing sales, and we are now also approaching the end of two years development project cycles for the three externally funded AA game projects to be released now in the second half of 2021. Moving on to slide 24. For the operating cash flow, we see a strong operating cash flow in the first quarter if we exclude CapEx for acquisitions of SEK -49 million. Adjusted for CapEx for acquisitions, the operating cash flow in the first quarter is SEK 6 million, generating a SEK 46 million year-over-year improvement, which can be compared to the improvements in adjusted EBITDA, which is SEK 8 million year-over-year. As for net debt and leverage, we are basically in exactly the same net cash position as we were by the end of the fourth quarter, even though we've spent SEK 62 million in investments in this quarter, of which SEK 49 million was for the acquisition of Headup then. That was the end of the financial section, now we're moving on to slide 25 which deals with events after the end of the quarter. Please move on to slide 26 where the main attraction after the end of the quarter is the news that our game segment subsidiary, Coatsink, has signed new contracts with Facebook-owned company. These new contracts are worth in excess of $20 million, which will be spread out across 10 quarters, starting in the third quarter 2021. At the same time Coatsink hands over publishing of the VR game Onward to Facebook-owned companies. We see the net effect of this as something that is very positive for Thunderful Group. Anders, would you go into the purchase price allocation there, please? Yep. Following the announcement of the Facebook deal, we have also updated the purchase price allocation for the acquisition of Coatsink. Coatsink was acquired in the fourth quarter of 2020, and according to IFRS 3, the revaluation of the PPA affects also the Q4 2020 report. In the Q4 2020 report, the balance sheet items goodwill and non-current earnout considerations have both increased with around SEK 85 million. The P&L statement in Q4 2020, however, is only affected by additional financial income from currency revaluation of SEK 2.9 million and extra tax on SEK -0.6 million. This being said, none of the KPIs, EBITDA, or EBIT have been affected. Finally, the updated PPA confirms our very positive view on the net effect of this deal for Thunderful Group. Thank you, Anders. Let's just for sanity's sake, go to slide 27 and say thank you very much for tuning in and listening to us. That concludes the presentation. Please, moderator, can you bring on the questions? Thank you. Ladies and gentlemen, if you have a question for the speakers, please press zero one on your telephone keypad. We have a question coming from the line of Oscar Erixon from Carnegie. Please go ahead. Your line is open. Thank you, and good morning, guys. A couple questions from me starting in the games segment and the release pipeline. I see that "Lost in Random" and "Jurassic World Aftermath" are both now expected in the second half of the year. Can you talk a little bit about the status of these projects? Is there any risk as you see it for delays for titles currently expected in 2021? Will it be a really strong release year? Well, good morning to you too, Oscar. It's great to hear your beautiful voice. To answer your question, as I mentioned also in the presentation, that these two titles are slightly delayed. We don't see any risk that these are sliding out of 2021. They will still be released within the year. As you mentioned, we have a strong lineup of games, both developed internally, but also externally developed games coming out in 2021. We don't see a risk of the releases of these games not coming in 2021. Yeah, it's a message of reassurance. We don't see it sort of moving into 2022. Both these titles, "Lost in Random" and "Jurassic World Aftermath: Part 2," they have moved within 2021. They're now coming in the second half, both of them. Very clear. Thank you. A question which is related to the Facebook deal, I presume. If you could talk a little bit about the dynamics here in Q2 relative to Q3 and Q4. You will not be the publisher of the game here from April, May. You will not have the income from Facebook to the same degree in Q2, I presume. If you could talk a little bit about the phasing during the year, and I guess that's maybe a question for Anders. Thank you. Yes, Oscar. You can say that the deal with the Facebook company involved several different aspects. The dynamics for the second quarter is just as you say, that we are no longer having revenues from Onward. On the other hand, we are getting higher revenues from Jurassic World Aftermath, part one, that is. The rev share is now higher for that game than what it was before. Of course, we believe that based on the postponement from the second quarter to the third quarter or fourth quarter for the games being slightly delayed, we will lose some revenues from the second quarter to the second half. It shouldn't affect the second quarter so much in terms of the Onward deal. Excellent. Then turning a bit to Q1 and to distribution. Solid margins in Amo Toys after a very weak Q4. Is the gross margin and the sales mix here with very strong spring/summer sales seemingly, is that the key explanation, or have you made any changes to lower the high logistics cost seen in Q4? The key driver here is definitely the gross margin, meaning that we have higher gross margins now in the first quarter 2021 than we had both in the fourth quarter of 2020, but also the comparison quarter, the first quarter 2020. It's also a fact that we have initiated a few cost initiatives within Amo Toys, and that has seen some effect in the first quarter, but the key driver is really the higher gross margin. Understood. Looking ahead for Amo Toys, how is the momentum here at the start of Q2? Is it a similar mix, and is it reasonable to assume a similar type of performance margin-wise in Q2? The positive news is that our neighboring countries, Norway and Denmark, has been opening up by the end of April and now in May. That for retail stores in especially Norway there's a much more positive momentum right now. Stores are opening up, it's still so that quite many people are not planning to travel abroad during the summer on their vacation. It could be so that people are visiting stores in a higher degree than what they did in the fourth quarter, now in the second quarter. It's also a fact that the demand for spring/summer toys seems to be quite high right now based on the vacation plans that most families have right now. Great. Just a sort of control question. Given how gross margins can be quite fluctuating things. Is it a similar mix or anything else to expect from Q1? We would assume that typically the first quarter is the quarter where we ship out the first orders for the spring-summer collection. In the second quarter, we receive all the replenishment orders. It should be a similar mix in terms of gross margin and in the product portfolio that we are selling. Then the volume of how much we are selling is dependent on sell-through in the actual stores in the second quarter. Excellent. Thank you. Then I'll just take my two more questions. Apologies for keeping everyone waiting here, the outlook for Bergsala in 2021, if you look at Nintendo's software and hardware pipeline full year and compare that to 2020, any games or hardware that stand out that we should factor in here and figure out a discussion on how to think throughout the year between different quarters would be very helpful. Thank you. Yeah. The release schedule for 2021 is not really full from Nintendo as of now. There's a couple of titles coming out this summer, being bigger titles. One of them is a bigger AAA title coming out in the third quarter. It should be mentioned that Nintendo published their year-end report on the 6th of May, and they provided a guidance for the next fiscal year, meaning the year starting 1st of April 2021. The guidance was - 11% for hardware sales, but it should be worth to mention that it was - 9% the last year, which they outperformed quite much. It seems that Nintendo still has a position or a view where they believe that sales will be quite similar to 2020. Even though we haven't seen so many game announcements yet, it's typically so that most of the second-half announcements are typically made in June, traditionally at E3. Now when there's no E3, we will wait and see when the announcements will be made, but it's still a month or two ahead of us. Very helpful. Thank you. Just the final question from me, how does the M&A pipeline look? What types of discussions are you having? What type of acquisitions are most in focus for you right now in terms of size and IP? Thank you. Yeah. The M&A discussions and pipeline are very much alive. We are talking to targets of various sizes, and obviously we can't divulge any details, but as before, it's all within the game segment, and that's where we intend to acquire. It's ongoing, and we look forward to presenting results going forward. Excellent. Thank you very much, Brjann. Thank you, Oscar. Thank you. The next question comes from the line of Jesper Birch-Jensen from ABG. Please go ahead. Your line is open. Good morning, Brjann and Anders. Thank you for taking my questions. I'll start off with a few on the distribution segment. You already touched upon the modern expansion in Amo Toys. I know that previously you mentioned that there could be logistical headwinds in terms of the spring-summer collection. It seems like you've been able to satisfy the demand despite that. Has there been headwinds affecting sales in Q1? Starting off where net sales is down compared to the previous quarter year-over-year, even though gross margin is higher. Of course, we've been struggling to take home some of the products. There's been a lot of delays from containers from Far East, and it's also so that costs are increasing quite much for containers from Far East to Europe. There have been delays, but some of those delays could be modelized as sales coming in the second quarter rather than in the first quarter. That is, we are receiving some of the products later than we initially anticipated. Thank you. That would mean that the spring-summer collection sales would be perhaps more tilted to Q2 compared to Q1 than ordinary, right? Yes, more tilted than ordinary, but ordinary, the absolute majority of the spring-summer sales is in the first quarter. For the first order, that is. Now some of the products for the first order will not be sent until the second quarter, but it still affects us. us. The second quarter is typically driven by the actual demand, meaning sell-through in retail stores. Thank you. Moving on to Bergsala, you mentioned in the report that Bergsala is currently undertaking large marketing initiatives. I think you mentioned that it costs marketing expenses of about SEK 9 million. What is this in relation to? Is it in relation to upcoming Nintendo games, or is it something else? It's really that it's an initiative that we had by the second half of 2020. Some of it has been postponed until the first quarter 2021. It's still that we are having this as a kind of a backlog from the fourth quarter in 2020. That being said, that backlog has ended. It won't be the same in the second quarter. It won't affect the second quarter, so to speak. Thank you. It's more in relation to the overall product from Nintendo, so not for any specific upcoming product? Yeah. Correct. Exactly. Thank you. Just two questions here on the games segment. Obviously, you didn't release any new titles in Q1. I take it that the vast majority of revenues were back catalog. Did it also include milestone payments? I'm thinking of the ones being delayed from Q4, perhaps for The Gunk and so on. Yes, it is including milestone payments. The milestone payments are fairly linear from a periodic point of view up until release. Of course, with a slight delay reported, there's also a bit longer time between the different milestone payments naturally. It's still so that a large portion of the revenues in the first quarter comes from milestone payments. Thank you. Just moving on to the publishing business, obviously, your updated table contains 21 titles slated for release in 2021. What's the general time split here? I mean, is it tilted towards H2, or is it pretty much even, or how should we view this? In games that are coming next year, 2022, it's early to say if it's coming in the first or second half, also depending on how the pandemic plays out. As for 2021, I would say it's tilted towards the second half of 2021 of the games that are in the pipeline of externally developed games. The internally developed games are, of course, sort of highlighted which half they're coming in. For the external games, it's sort of the nature of the difference between the internal development and the publishing of external titles that you have much more control over the internally developed titles, and then you can sort of tell relatively quickly if there will be any delays and when titles will come out. When it comes to externally developed titles, it's far more uncertain when the games are finally due out since you have less control of those titles. That's why we've sort of left out the H1 and H2 for those games. Yeah, just to answer it quickly, in 2021, the number of titles there, the majority of them are coming out in the second half of 2021. Thank you. Last question. Just in terms of operating costs, you reported other operating expenses of SEK 19 million. I was just wondering what's this relating to? Other operating expenses are currency revaluation from the business itself. That's both other operating income and other operating expenses. It's currency revaluation in both of those, plus and minus. Okay, thank you. That's all for me. Thank you, Jesper. Thank you. I remind you that if you want to ask a question, you will have to press zero one on your telephone keypad now. There are no further questions at this time. Please go ahead, speakers. Well, in that case, we would like to thank everyone who has tuned in, both on this audio cast and on the webcast. We just look forward to do a rinse and repeat in about a quarter or so. Thank you very much for your good support also, moderator.