Hello and welcome to today's webcast presentation with ViaCon. With us today we have the CEO, Stefan Nordström, and CFO, Philip Delborn. If you have any questions for Stefan and Philip, please use the form that is located to the right. With that said, please go ahead with your presentation. Thank you. This is Stefan Nordström, the CEO of the ViaCon Group. We will cover today, the Q1 in brief, including the market development. Philip will go through the financials in Q1. I will come back with two interesting cases when it comes to our offerings to the market. We round off with the Q&A, as you said. If we start with the Q1 in brief, what we have seen in Q1 is a more normal seasonal pattern when it comes to the order intake and also the monthly revenues, compared to 2022. Last year was quite extreme because with the outbreak of the war in Ukraine, at the end of February, we could see a sudden spike, which continued for many months into 2022, in fact, all the way into the fall of 2022. An increased spike in terms of prices for raw materials, but also the lead time for deliveries on raw materials. This caused many customers to place their orders very early in order to secure both cost and lead times from us on the products and solutions that we offer. This caused, you know, an unprecedented spike order intake-wise, during actually March of last year. So when comparing the order intake for 2023, it is lower than 2022. As you can see from the numbers here, clearly above 2021. EUR 43 million order intake in Q1 this year, EUR 64 last year, and two years ago, EUR 39. At the same time, we could see in Q1 a good organic growth in both the Bridges & Culverts Solutions, and in the StormWater Solutions. And this despite a long and quite harsh winter in many parts of Europe, beginning of this year. And in StormWater, a good growth in both sales and in the order book for the coming quarters. On the GeoTechnical side, we could see a decline due to the extraordinary high Q1 of last year. Given the uncertainty from certain customers last year on sales, but order intake was still good last year. We have continued the exit from low-margin businesses also in Q1 of this year. That has also caused a lower sales in Q1. During this quarter, we did also take two important decision in terms of our manning. We hired Salomeh Tafazoli as new vice president for the business unit Bridges and Culverts Solutions. Salomeh had a similar position in the Alimak organization earlier. We also hand-hired Andrzej Rokosz as the new vice president for the business unit GeoTechnical Solutions, and he has a similar role today in the Danish company LOGSTOR. Strengthening the team to prepare for the future. On the market and outlook side, we can see that the raw material market has continued to stabilize during Q1 in terms of pricing and in terms of availability of raw materials. Efficiency activities are underway in ViaCon to offset the increased cost coming from the inflationary pressures that we also, of course, experience. The inflation and the following rise of interest rates do create some uncertainties when it comes to our customers financing solutions for their projects. This actually causes some delay in customers' projects. We could see the same thing in Q2 and Q3, also into Q4 partly, last year. Still, we do expect that the overall infrastructure market in Europe will remain stable in 2023 compared to 2022. In addition, we continue to take market share from the competing alternative solutions, given our strong sustainability offering, which gives us a very good competitive advantage on the market. If I hand over to you, Philip, for the financials. Thank you, Stefan. We start by looking at the overall Group and a summary of the Q1, this is the first quarter where we present the numbers in euros instead of SEK. Keep that in mind, please. Looking at the numbers for the first quarter, as Stefan mentioned This year was a more normal seasonal mode compared to what we saw last year. That means that we had an organic growth of -9.6% in the first quarter, and this was, of course, impacted by the exceptional Q1 last year. Also, the long winter that we had also impacted the sales in the quarter. Looking at the EBITDA, we had a negative EBITDA in the quarter, EUR 1.7 million approximately, and that's also quite expected for a low season. Looking at the order intake, it was actually quite strong in the second half of the quarter. First half of the quarter was a bit slow but picked up during the quarter. We move over to the three business units and start with the Bridges & Culverts Solutions. Here we can see that despite a quite long winter and tough comparative numbers, we had an organic growth of 5.1% in the quarter. Also here we can see a little bit slow start of the year, but picked up in the second half of the quarter. The EBITDA was slightly negative, almost EUR 2 million in the quarter. As Stefan also mentioned, we can see some effects from the inflation in the numbers in the first quarter. The order intake is below the exceptional 2022. However, it is actually slightly above 2021 in Bridges & Culverts Solutions. Quite normal also there. We move over to the second business unit, Geotechnical Solutions, this is quite normal quarter for Geotechnical Solutions considering the low season. Last year was not a normal quarter for GeoTechnical Solutions. Therefore, we can see a decline in sales. The organic growth was -24% in Q1. That has also been impacted by exiting the low-margin business, and this is something that we will continue to do. We see that by exiting low-margin products, we can increase our products margins even further going forward. Looking at the margins in the seasons, we can see a negative margin in Q1 in GeoTechnical Solutions, and that's a seasonal effect where we have the low season in Q1 and normally also in Q4. The order intake of EUR 18.5 million was quite normal for this part, this time of the year, or maybe even quite good, if we compare to a normal year. Finally, the StormWater Solutions business unit. Here we can see a strong growth in both sales and an improved EBITDA. We had 10.6% organic growth in the first quarter, this is despite the low season. We can see also here in this business unit that we continue to improve our EBITDA and our margins. This is linked both to the volume growth and to several productivity initiatives that we are running and will continue to run in this business unit. Looking at the order intake, we see a strong order intake in the quarter, 16.5% organically. This is exactly in line with our strategic agenda for this business unit, which is to build up this part of ViaCon. A quick look at our cash flow and the financial position. The cash flow from operating activities was EUR -8.1 in the quarter, which is slightly below same period last year, which was EUR -7.8. We had a positive impact from the change in working capital compared to last year. EUR 2.7 million in the first quarter compared to EUR 3.5 million the year before. This is mainly coming from improvement in inventories and account receivables compared to last year. We had operating CapEx of EUR 0 million in the quarter, which was slightly below the year before. If we look at the financial position, our net debt in total was EUR 101 million, which is EUR 7 million below same period last year. If we exclude the leasing liabilities, we have a net debt of EUR 91 million compared to EUR 97 million at the same time a year ago. Our cash position by the end of the first quarter was EUR 18.5 million, and in addition to that, we have EUR 5 million in undrawn revolving credit facility. Equity-wise, we have minus EUR 2.5 million end of the first quarter, which is a little bit better compared to the same period last year where we had EUR 10.3 million in equity. By that, I hand over to you again, Stefan. Yes. Thank you, Philip. I want to round off with two good case studies when it comes to our offerings on the market and the competitiveness we have. The first one is a case study on the impact of a typical solution from us. It's a corrugated steel pipe compared to same pipe done in concrete or even reinforced concrete. Then you see some charts here on the right-hand side where by diameter of these pipes, what the difference is in greenhouse gas emissions compared to the concrete. Obviously, the CSP is the corrugated steel pipe and the dark or the gray one is a concrete pipe. Breaking this further down into other KPIs, the CO2 tonnage used producing and transporting these pipes is considerably lower for the steel solution. On a corresponding level, the liter of water consumed is also a lot lower, and the same for the total energy use measured in megajoules. But putting some numbers to this, then for a comparative concrete pipe and a steel pipe, the CO2 tonnage is 74% lower for the steel solution. You can see an equivalent there in kilometers driven in a car. Quite a big difference. Freshwater liters used 79% less for the steel solution compared to the concrete. The total energy measured in the megajoule, as I said, 73% lower and an equivalent there when it comes to how many charged smartphones this relates to. Quite a strong sustainability offering is a key part why we are able to take shares from concrete and why we will continue to do so. Another example here is a recent big order that we took in Germany. It is to replace a concrete bridge in the city of Ulm, in the city center, in southern Germany. The challenge here from the customer's side was that they were requiring a more sustainable and a complete solution instead of a concrete to address the existing bridge insufficient load-bearing capacity and also the high water table or high water level from a small creek running below this bridge. At the same time, doing this replacement, we had to minimize the traffic disruptions for this part of the road network. We offered a greener, faster-to-implement designed solution, a higher capacity, and we extended the lifespan of the existing bridge considerably. We were streamlining the order from our side, providing a full end-to-end solution, meaning from design to technical advice to delivery. Our proposed solution was meeting the cost, design, safety, and sustainability requirements from the customer. Just looking here, you see a typical cross-section of what this means. That this complete solution helped the customer to strongly improve the efficiency by working with one single complete solution provider. The sustainability and the lower carbon footprint also came from us moving to fully recyclable steel and more long-lasting than the concrete, reduced need for heavy machinery on site and a lower energy consumption from our solution. Thereby, and also for other aspects, a considerably lower environmental impact and traffic disturbance compared to if this would have been done with a concrete bridge. Traffic would have to be discontinued for quite some time, leading to a lot of rerouting and extra costs and disturbances for traffic itself. With our solution, we have a faster implementation and thereby significantly faster delivery time. Also when we use steel instead of concrete, there is no wet materials used, meaning that there is no hardening period, as you need for the concrete in itself. This is a, you know, typical example of what we offer to the market, and important for us, both these cases in how we drive continued growth versus the alternative solutions using sustainability as a key argumentation. That's what we intended to present in terms of facts for Q1. We are at a point where we can take questions on this from the audience. Thank you, Stefan and Philip, for that presentation. Now we'll jump, like I said, into the Q&A section. We'll take the first question here. With a lower profitability in Q1 2023 versus Q1 2022, do you think the trend will extend throughout 2023, or is a reversal expected in the coming quarters on a year-over-year basis? Not an un-unexpected question. We don't give direct forecasts, of course. We do see that the market is still quite active. There are big pipelines that we are working with from all business units. Many requests for quotations, many deep discussions, and order intake is continuing. As I said in the beginning, the higher inflation causing higher interest rates is still some challenge for some of our direct customers, the entrepreneurs, in their financing solutions. This is causing some delay in customers' decision-making. We saw exactly this pattern starting in Q2 of last year as well. Looking at the whole of 2023, and with the projects that are started out in the market, you know, our customers' infrastructure projects, we do expect that the market will hold up and thereby, we look positively to the coming quarters. There is still a lot of hard work needed, both from the customer side on their financing, towards the authorities and also on our side. We could say on the business unit StormWater, it, you know, there is a quite a good activity in many markets in Europe, but still, delays in the customers making up their minds of the final ordering. It's not zero. It is progressing in the right direction. Okay, thank you. Take the next question here. Could you provide more color on what the performance, and order intake was like during this quarter, and what do you expect for the remainder of the year? I think it's a little bit of a similar answer as the first question from us. The order intake in Q1 was a little bit slow in January and February, which is quite normal for us when you have a harsher winter. That was sort of expected. In March of this year, it really took off as I shared on the numbers here and as Philip did per business unit in a good way, but of course, not meeting the extreme situation caused by the war that started end of February last year. The comparison with last year is quite tough. We know that from April 2022 and onwards to the rest of 2022, the order intake was more in a normal pace. It was really a peak, you could say, and that was March 2022. Now we do expect, of course, a continued increase in the order intake. Again, we need to be very humble with these delays on the customer side, on their final decisions, not because of ViaCon or because of their lack of wanting to go ahead. It is bottlenecks in the financing solutions from road and rail authorities around in Europe. We have, of course, not given up on this year at all. We expect the market to, in the end, remain stable, and we look forward to a continued positive development into at least the second half of this year. would you say that ViaCon benefits by the aging infrastructure in Europe? Definitely we do. The example, the case study that I shared here was from Southern Germany. Typically in Western Europe, there is more replacements, refittings, maintenance of the existing road and rail networks as compared to Eastern Europe, which is still enjoying more of new investments. This will continue to be so for several years going forward. We have positioned ourselves with our last acquisitions the last couple of years in a very good way, where we are quite, you know, have a good home market in Western Europe now, and remain in Eastern Europe. Previously, we were not that active in Western Europe as we are now. We are in a position to capture both refurbishment and new projects. Thank you. Take the next question here. The Bridges & Culverts Solutions business unit accounts for roughly 39% of the group's total sales. What's your view on this particular unit going forward? Are you positive, or do you see any potential risk here? I mean, over time, we are very positive around the top-line development in this business unit. Here is really where we can use the sustainability argumentation in a very positive way. We are taking shares from the alternative materials, and we will continue to do so. The same applies, I can answer that right away, for our business unit, StormWater Solutions, also. GeoTechnical, our challenge here, which we are, you know, under full implementation of, is to grow the real technical solution part of this business unit, also with higher margins. At the same time exit low margin business as we have done during Q1, as Philip just explained for you all here. Short answer, bridges and culverts, we expect quite a positive development here going forward. Okay. Thank you. What does your sales strategy look like? More at higher prices and building deeper customer relations. Our strategy builds on selling solutions, I think this example I just shared from Southern Germany, we have many such examples around in the group, really proves how we can be a solution provider for the customer while being a product supplier. We are not a project company. We are a product company delivering to our customers projects offering complete solutions and end-to-end solutions, including design and technical advice and how this should be done. That is our strategy to forward and push and really these solution sales, that's at the heart of our sales strategy. Okay. Thank you. Let's take the next question here. Given the current market conditions, would you say that ViaCon's position today is strong or weaker? It's very strong in the market. Just to share the example with the latest acquisitions over the last two years, how we have really strengthened our position in Western Europe. We made an acquisition in Germany two years ago. We made an acquisition in the U.K. one and a half years ago. We made an acquisition a little bit more than 1 year ago now in Holland. Since earlier, we have an entity which we are full owners of since three years back now in France. Thereby we can enjoy more of a refurbishment market in Western Europe while also participating in more of new infrastructure projects in typically Eastern European countries, and also south-southeast of Europe. It also... This expansion of the footprint also gives us and has given us quite a good platform to grow the StormWater Solutions on which Philip just shared with you on the numbers for that business unit being above last year and this journey will continue going forward. Again, we need to be very humble at this stage. There are issues for our customers financing, which is dragging their decisions. Over and above, we believe that the market will stay stable this year compared to last year, and in the years to come, continue to grow. Okay. Thank you. Has the pickup in orders seen in March continued in April and May? We don't comment upon the, you know, the, on this during the quarter itself. We will come back to this, of course, when we summarize and share Q2 as a whole. Activity is there. We call it the pipeline. This means things we are negotiating, things we see a good likelihood of winning. This is still at a quite a high activity level. There is delay in the customers making their final decisions coming back to their financing solutions. This is, of course, being worked upon. We cannot stop, meaning in general, the market cannot stop ongoing infrastructure projects around in Europe because that would cause quite a big problem. This is at the authority level, around in the national authorities for road and rail, in Europe. As an investor, what should I look out for in the remainder of 2023? you know, continued strong commitment from this organization to harvest on the competitive advantages that we have, the strong and deep customer relationships that we have, making sure that, the customers do decide now and, place their intended orders with us as being discussed all the time. We look forward to a good development for the rest of the year, keeping in mind this delay in customer decision-making. We don't foresee a disastrous year in 2023, as a full year. Okay. Thank you very much, Stefan and Philip, for presenting today and answering all of our questions. A big thanks to all of you who followed along for ViaCon's Q1 report here. I hope you have a great rest of the day, and until next time. Thank you, guys, and goodbye.