Hi, welcome to today's webcast presentation with ViaCon. With us today, we have the CFO, Philip Delin, and the CEO, Stefan Nordström. If you have any questions for Philip and Stefan, please use the form that is located to the right. We will end this presentation latest at 10:45 A.M. If the Q&A goes on for longer than that, we will forward the remaining questions to Philip and Stefan. With that said, please go ahead. Yes, good morning, and welcome to our Q4 presentation. We will go through the Q4 in brief, and including what we see during 2022 and briefly into 2023, the market situation and development. Philip will cover the financials, and I will round off with what is in focus for us for 2023, including an interesting customer order example that we have decided to highlight, and then the Q&A. If you go on there, Philip. In brief, in Q4, we had a record high Q4 sales, close to 40% growth year-over-year, and a strong development in all three business units. The order intake was also quite high, close to 17%, and organic, close to 15%. You can see our business units here, Bridges & Culverts was up year-over-year 56% in Q4 GeoTechnical slightly down, but they had a strong Q4 last year in 2022, and quite short lead times also on their order book, so that is not a concern for us. StormWater Solutions up 33%, giving this total of close to 17%. During the Q4, we focused a lot on executing the strong order book that we brought into Q4, and this resulted in a significant EBITDA improvement, and thereby also secured a third consecutive record year in the ViaCon performance. In Bridges & Culverts, there were delays during 2022 in many of the projects of our customers, mainly during Q2 and Q3. We converted all this into sales and deliveries in Q4. In GeoTechnical, there was a good growth despite some startup challenges in October and November for our new plastic pipe factory in Lithuania. These disturbances were partly also coming from the geopolitical situation. In StormWater, a very high activity in Q4, and surprisingly high actually, despite a normally low season in Q4 and also some uncertainties due to the situation macroeconomically. Anyway, in Q4, we also managed quite a strong improvement of the cash generation following a good decrease in working capital and of course, with the strengthened EBITDA. This all led to quite a strong Q4 cash generation. Philip, if you go to the next one. Looking at the market in 2022 and a little bit ahead in 2023 as well, we were affected, and we talked about this already at our Q3 report, affected, coming from disruptions in supply chains, which led to very long delivery times, shortages, and thereby also very, very high cost for raw materials. This situation has clearly stabilized now during Q4 of 2022. Also, the recent inflation and the interest rates hikes do cause some uncertainties for some of our customers' financing. Going into 2023, there may be some impacts of longer lead times from order to delivery, still, but we don't expect it to be near what we had during 2022. Of course, the high order intake in 2022 will also lead to a positive impact in the beginning of 2023. Overall, the infrastructure market in Europe is expected to be stable, and there is a continued good demand for our solutions. Very important for us is that we continue to work in taking market shares from competing solutions, which are mostly concrete and plastics. Of course, our total cost offering, as well as a stronger sustainability offering, they do give us quite a competitive advantage in the market. Philip, if you move on there, and I hand over to you for the financials. Thank you, Stefan. If we start by looking at the group numbers for the fourth quarter and for the full year, as Stefan mentioned, we had a really strong end of the year, and we've really focused on delivering on the delayed project from Q1, Q2, and Q3, and we're quite successful in that during the fourth quarter. Total sales increased with almost 40%. The organic growth was actually slightly above 40% in the fourth quarter, and that puts us on a 18.8 organic growth for the full year, which is quite strong. If we look at the EBITDA development, strong development in the fourth quarter, much of it coming from the really strong sales in the period. Also a full year, quite strong development with an underlying the EBITDA of above SEK 285 million, which is an improvement of more than SEK 46 million compared to 2021. That corresponds to approximately 19% increase. If we look at the order intake, as Stefan mentioned, it was good in the fourth quarter. Organic growth in the order intake was 14.8%, and the full year organic growth in the order intake was 17%. If we then move over to our three business units, we have Bridges & Culverts Solutions, GeoTechnical Solutions, and StormWater Solutions. If we start by looking at the Bridges & Culverts Solutions, we can see a significant improvement in both sales and EBITDA in the quarter. Normally, the fourth quarter is quite slow, but this year or in 2022, we saw a slightly different pattern and had organic growth of 116% in the fourth quarter, which is of course really strong. The full year organic growth for Bridges & Culverts Solutions was close to 35%. In this business unit, we have really focused on delivering on the strong order book. As we've mentioned in previous calls, the delay from the customer side impacted us in the beginning of the year and also in the third quarter. We really executed on that order book in the fourth quarter. This strong sales, in combination with operational efficiencies, led to a really good EBITDA development in the fourth quarter. Also the full year EBITDA development has been really strong in Bridges & Culverts Solutions. If we look at the order intake, we had an organic growth in order intake of 76.6% in the fourth quarter and a strong full year organic growth in the order intake of 33.5%. If we then move over to our second business unit, GeoTechnical Solutions, this is our largest business unit. We had a more flat development of the growth in terms of organic growth. This was impacted by a couple of different reasons. We had the delay or the startup phase of the plastic pipe factory in Lithuania, which Stefan also mentioned. That impacted our sales, especially in the beginning of the quarter. We also had a product mix during the fourth quarter where we had a little bit of unfavorable mix towards low margin products. This is something that we are focusing on. The strategic agenda for this business unit is to increase and improve on the margins. One part of that is the product mix that we are working on to achieve that. We also made some inventory adjustments during the quarter, which are a bit of a one-off, and this is also related to us focusing on more high margin solutions and products. If we look at the order intake, we had a negative organic growth in the order intake in the fourth quarter of 10.4%. However, the full year organic growth in the order intake was 3.7%. Again, the main strategic agenda for this business unit is not to grow. Of course, it's nice to grow, but the most important part here is to improve the margins. If we move over to our third business unit, StormWater Solutions, that's approximately 16% of the ViaCon Group. We had a strong growth and also a strong EBITDA development in the quarter. The organic growth was 19% in Q4, and for the full year, above 15%. We, similar to Bridges & Culverts Solutions, we had a strong focus on really delivering on the order in order book from previously during the year. That really made a good effect in the fourth quarter. The volume growth and the pricing management has really also impacted the margins in Stormwater Solutions during the fourth quarter. All in all, a strong development in this business unit. The organic growth in order intake was minus 0.7% in the fourth quarter. Not so concerned about that. The full year organic growth in order intake was almost 25%. That's also quite strong. The strategic objective for StormWater Solutions for us is to really build this business unit to have a larger proportion of the ViaCon Group. If we have a look at the cash flow and our financial position, we had a strong cash flow in the fourth quarter. The cash flow from our operating activities amounted to SEK 132 million. This is impacted of course from the strong EBITDA development, but also our focus on improving the working capital, which has been successful. We have reduced our inventories and account receivables during the quarter, which has generated quite a good cash position for us. If we look at our CapEx, it was slightly higher in the month compared to the year before, 12.8 million in operating cash CapEx compared to 10.9 the year before. Some comments on the balance sheet. Our net debt by year-end was more or less in line with the year before, slightly above SEK 1 billion. If we adjust it for the lease liabilities, slightly above SEK 900 million. Our liquidity quite okay. Our cash and cash equivalents amounted to SEK 311 million. On top of that, we have an undrawn credit facility of SEK 55.6 million. Also, a comment on the balance sheet is that we have a positive equity almost SEK 36 million in this end of December this year or 2022. Stefan, let's focus on what's ahead of us. Yes. Thank you, Philip. If you please move on. For 2023, of course, we will focus on executing the strong order book that we bring from 2022 and of course, continue to work on receiving more orders and turning many great leads that we currently have into further strengthening the order book. There is a good market activity out there. As I've said many times, and also this morning, growing the business market share wise on behalf of the alternative materials, concrete and plastics, where we emphasize our strength in the total cost and the sustainability offering, is quite important. During last year, we have developed several quite interesting what we call engineering productivity initiatives, and we have started to implement them. From 23 and onwards is really a time to leverage and harvest from those initiatives. We want to further, of course, develop our people and efficiency out of our organization. That is important to be able to take the next steps now. Of course, should there be some concerns in the market of longer lead times, between order to delivery, we need to ensure good flexibility to manage such situations. We have prepared ourselves for such scenarios, so ready to implement if that will be needed. Let me just finish off here before we go into the Q&A. On a typical customer order, this is from our business unit, the GeoTechnical Solutions, and this concerns a customer in Hungary. The challenge here from the customer was to that they wanted a more sustainable solution than what a pure concrete solution would have given them. With our competence and working together with the customer, we developed quite a cost-efficient and a faster-to-implement design solution. We also acted as we often can do, as a full supplier here from an end-to-end, meaning that we work with design, the technical advice to delivery. This project consisted of actually two parts. There was something called MSE, which is what you see on the upper picture on the right-hand side. These are small concrete blocks. Yes, we do use concrete, but compared to a normal concrete solution, this is a much, much lower degree of concrete being used. This is put up to stabilize the earth, thereby protecting the surrounding environment. We also combine it with what is called the gabion, which is what you see on the bottom picture on the right-hand side. These are basically steel boxes made out of thick thread steel threads, which are packed with crushed stones. It's actually quite nice to see, and it creates a nicer environment and look and feel. With these two technical solutions, we met, of course, cost and design as well as the sustainability requirements from the customer. The advantage for the customer here working with us was that we help their efficiency being one partner designing and suggesting the whole solution for both solutions. A considerably lower cost compared to the original idea from the customer of using a full concrete wall here, thereby also much easier to implement compared to the concrete and a significantly faster delivery time compared to concrete because we didn't need to use any wet materials like what you do for the concrete, and you need a hardening time for the concrete. Typical example from that business unit and a very strong solution for the customer. I think that brings us into any Q&A, if there would be any questions. Thank you for that presentation. Now let's jump into the Q&A, and we'll take the first question. Order intake is reported but not order book. Why is that? Can you repeat, Martin, please? Order... Order intake is reported. Ah not order book. Why is that? Well, the order book is, of course, impacted by and especially during last year, by the disturbances from the market and that caused the delays in delivering. The delays were not from our side, it was from the customer's financing side. We want to work with the order book in close cooperation with our customer and deal with those issues between us and the customers. We don't enjoy this, and our customers also don't enjoy this being sort of public information. I would say that's the main reason. Anything you want to add there, Philip? No, I think you covered it quite well, Stefan, and the, we'll also say that the order book consists of several different types of orders in length and in the different BUs, which, I think is something that we need to work on internally more than externally. Okay, thank you. We'll take the next question. The steel price has declined from peak levels. How do you expect this to impact net sales and profitability in 2023? Well, during Q4, the whole market situation stabilized quite a lot. That should be a positive on the market demand. We can see this when we look into the different leads that we have on the market. The very worrying situation in Q2, Q3 last year caused, of course, big concerns for our customers and their financing, as we said a couple of times here. Profitability-wise, well, you know, we need to stay competitive, of course, with what we do. We still are working with pricing management, and we want to secure that we are competitive from a total cost perspective versus the alternatives in the eyes of our customers. When prices come down this much, the actual price may have to be slightly adjusted downwards. We don't foresee that this should negatively impact our profitability. There should be opportunities to continue to grow profitably during 2023. Anything you want to add, Philip? No, I think you covered it well. Okay, thank you. We'll take the next question. The strong results in Q4 for 2022 versus Q4 2021 seems to be driven by Bridges & Culverts. Is this a development we should expect ahead, or was it due to a few larger projects? Bridges & Culverts is our most profitable business unit. With the good order book that they were able to deliver in close cooperation with our key customers during Q4, of course gives quite a fantastic effect on the bottom line as well. We plan for this business unit to continue to develop positively into the future. Of course, they will impact in quite a positive way. Now, 2022, from its how should I say, seasonality, given the big disturbances, is absolutely not the normal year. A super strong Q4 in 2022, we don't expect going forward under normal market conditions. We rather expect, of course, more of a normal year, which Q1, Q2, and Q3 last year was not. I also want to emphasize that the profitability in the business unit StormWater Solutions is quite good as well. Last year, we were really suffering from disturbances on the customer side. Still, we managed good in Q4, as you could see from Philip's slides. Although we had great challenges in 2022 in geotechnical, there are good opportunities to continue to develop the profitability in that business unit as well. Yes, bridges and culverts will, as long as they grow as we have, as we are planning, they will have a great impact on the EBITDA in the group. Q4 was completely abnormal like the rest of the whole of 2022. Having said that, the full year of 2022 was in line with our expectations and not an abnormal overall year, thanks to Q4. Okay, thank you. We'll take the next question here. The gross profit was extraordinarily strong in Q4. What was the driver behind that, and what should one expect in 2023 versus 2022? You know, we managed to deliver the order book in Q4 in quite a good way, working in close cooperation with our key customers and the strong relationships we have with them, also thanks to a much more stabilized supply situation. We will continue to work with our both pricing and also cost initiatives. I mentioned in the presentation here some design and engineering productivity initiatives to you know, develop also the gross profit in a positive direction. Profitable growth is our aim in ViaCon also for the future. Mm-hmm. Thank you very much. We'll take the next question here. What's your view on growth through mergers and acquisitions in 2023? So far we have, over the last, close to two years, we have acquired 3 companies, Germany, in UK and also in the Netherlands. We are quite occupied with also utilizing the benefits of those acquisitions and our synergies, and this will also impact us positively in 2023 and beyond. Of course, we are, when it comes to new M&A opportunities, we are constantly looking at this, and it's always a part of our agenda to develop the company in the desired strategic direction, which we have now proven for three years in a row is the right strategy and the right chosen direction. More than that, I do not want to comment on M&A at this stage. Okay, thank you. What are your forecasts in terms of wage growth for 2023? Will it impact margins notably? For sure, like any company, we are hit by inflation as well. So far we have been able to push this over to the markets in terms of pricing. I think going now into 2023, it is important that we continue to drive the started initiatives to also keep a high white collar efficiency in the company. We have several initiatives going in this direction. In terms of percentages and so on, I don't want to mention any specific numbers, we are not more affected from the inflation than other industrial companies operating across Europe. Is it possible to say anything about margins expectations going into 2023? Well, our aim is to drive them in the positive direction. More than that, I. We have several initiatives that are supporting a continued positive direction of ViaCon. But of course, we don't leave a forecast for that. Yep. Thank you. How long is the average duration on the order stock in the different segments? Oh, yeah, that varies. On bridges and culverts, from order to delivery, typically it could be 2-3 months. It can be longer, this comes from the desire from the customers to order well in advance to their infrastructure projects. It doesn't mean that we work on the project or on the order during that year. We get started 2-3 months before delivery to prepare everything from production. Of course, together with the customer in the negotiations and when before the order is put, we have done a lot of work on the design and the engineering of the custom fit solution. For Stormwater Solutions, the lead time is shorter than for bridges and culverts. I'd say one to two months, typically. For geotechnical, it is significantly shorter. It can be anything. What you would say, Philip, what is the right average? I would say around 1 month, at least. Yeah ... three weeks, two months. Yeah. Exactly. Okay, thank you. We'll take the next question. The lower headroom in the undrawn credit facilities compared to the year before, does that mean a lower limit or a higher usage as indicated in the BS? Philip- And- ... do you want to answer this one first? The limit is the same as it was end of 2021. We have drawn more of the facility end of 2022 compared to 2021. However, we've drawn less end of the year 2022 compared to end of the third quarter 2023. There is no change in the total facility. Okay, thank you. Take the next question here. What's the largest risk that you see that could impact your goals for 2023? I'd say that the biggest risk is in StormWater Solutions where we have a higher share of private customer projects, privately financed. With the higher inflation rates, this may cause delays from order to delivery. We haven't seen a lot of this yet. We saw some of course during 2022, but we haven't seen a worse situation now, rather a more stabilized situation. That's a risk I'd say we have. Important to say here is that our exposure though in StormWater Solutions is more towards industrial buildings, very little towards housing for, you know, apartments or private housings. We are more to the commercial building industry and, yeah, that's our biggest concern. Right now, what we see on the raw material supply being in steel, being in plastics that we use in new technical, this has stabilized. You know, it's not fully back to normal, but it's clearly much more stabilized than in Q2 and Q3 of last year. I would say stormwater could cause some issues for us. We don't see it yet, but that we have our watch out for that. Okay, thank you. Very bulky delivery in Q4. Do you expect a more stable quarterly conversion and delivery of the order book in 2023, or are some large order leading to bulkiness? No. I said it before in another question here in my response. 2022 was very, very difficult and quite abnormal from its quarterly variance and variations. We have never seen such big variations like we saw in 2022. We expect the 2023 to be much more of a steady year, at least what we can see now. Of course, some customers may order and ask for deliveries and, you know, for larger orders in a specific quarter. There could always be some variation from a quarter to another. Typically Q2 and Q3 are always the stronger quarters, with us in a normal year due to, you know, warmer climate and easier to perform the infrastructure and the stormwater projects from the customer side. There could always be some sort of bulkiness, but we absolutely don't expect such an extreme year to be repeated in 2023. ViaCon is the leader in Europe. What's the next step outside of Europe? We don't have any plans currently outside of Europe. We believe we have quite a good growth potential still in Europe for many years to come. Not least by utilizing the synergies with our three recent acquisitions in new markets for us. To this, I'd like to add actually a fourth acquisition we did four years ago, or sorry, three years ago by now. We were the majority owners since four years, or actually five years, sorry, and then we bought out the minority owner in France in February of 2020. Both Germany, France, UK and nearby countries are also growth potential for us. We have a lot to develop here and good potentials. Also, taking the market shares from the alternative materials in Europe, is also quite a good potential for us to develop the company. Currently we don't have any plans outside of Europe. Okay. Thank you. What can investors expect from ViaCon in 2023? A dedicated management team and organization developing the company continuously in a positive direction. We have good plans, good activities, and in a stable market and with good growth opportunities on behalf of the alternative materials combined with good plans on costs, not at least on the design and engineering productivity. A dedicated team developing the company in a positive direction. Okay. Thank you very much for the presentation and answering all of our questions. A big thanks to all of you who followed ViaCon's presentation today with us online. I hope you have a great rest of the day, and until next time, thank you and goodbye. Thank you. Goodbye.