Hello, and welcome to today's webcast presentation, where we have ViaCon Group presenting. 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. And with that said, please go ahead, Stefan and Philip, with your presentation. Thank you very much, and good morning. Our agenda today is to go through Q3 in brief and discuss a little bit about the market as we see it today and the outlook of that. And then Philip will go through some more details in the financials. And I will present two case studies as usual, sharing specific orders that we have installed with our customers and what solutions did we bring and what challenges did we solve with our solutions. And then we come to the Q&A. So let's get into the Q3 in brief. First of all, Q3 2023 was very strong. In fact, it was our best quarter ever so far. The underlying EBITDA improvement was clearly visible in all three of our business units. We have seen an increased market activity in most of our markets, and the situation with delays in our customers' financing solutions has had a negative impact on the first and the second quarters, as we have shared with you, but it's clearly improved in the third quarter. The efficiency work that we initiated already actually in the end of 2022, and which we in June decided to intensify, has had a positive effect on our performance in Q3. We are targeting to reduce our workforce positions by about 180 or more than 22% of our total number of employees. During Q3, the initiative has had a good progress and fully according to plan, and by the end of September, the absolute majority of these 180 positions was already completed. In Q3, we have also seen quite a strong order intake, EUR 61.1 million, compared to EUR 55.1 million in Q3 last year. So this is close to 11% up, year-over-year, quarter-by-quarter. Our expectations is also that the order intake will remain at a good level during Q4, and you see the little graph below. You see the strong order intake in July and specifically in September, and this has continued in October at quite a good level compared to last year. Looking at the market and our outlook for the market, there has been this delay in customers' financing during 2023 so far. But the situation improved, as I said, during Q3, quite significantly, and we see good activities into Q4 and also into the beginning of 2024. The infrastructure projects where we are involved, they are committed to by national authorities and fully backed by EU fundings that are dedicated for infrastructure investments. The market is quite active, and we have a good pipeline that we are working on. However, for the private construction market, we continue to see some uncertainties driven by these high interest rate levels. So therefore, we have seen a continued delay from customers in their orders, and they have pushed their decisions into 2024. This is mainly valid for the business unit, StormWater Solutions, but also to some degree for GeoTechnical Solutions. The availability and the pricing of input goods has continued to stabilize to quite a normal level in Q3. The efficiency work that we initiated in June of this year, combined with pricing management, will in 2024 allow us to completely manage the inflationary pressure and, of course, also put us in a better position to manage volume uncertainties in the private construction market. We are set to continue to gain market share from competing solutions and our sustainable solutions give us a competitive advantage also from a total cost perspective for our customers. With that, I hand over to Philip to go through some more details of Q3. Thank you, Stefan. If you start by looking at the organic growth in the quarter, we were on -1.5%. It's worth noticing that we've had quite significant currency effects in this quarter, but underlying organic growth was -1.5% in Q3. We see a positive development in Bridges & Culverts Solutions in terms of growth. But we still see the effect of delays in customers' orders, decisions in GeoTechnical Solutions and in StormWater Solutions, and that impacts our top line still also in this quarter. If we look at the EBITDA, we are EUR 2.6 million above last year and a strong increase in EBITDA margins from 14.3% last year to 19.9% this year. As Stefan mentioned, we, we are progressing very well in our efficiency work, and we have, through that initiative, a positive effect of EUR 2.7 million on our cost base in the quarter. Also, order intake, as mentioned, very good in the quarter. Organically, a growth of 26.8%, so a strong order intake in the third quarter, which is, of course, giving us comfort when we look ahead for the coming quarters. If we then go through the three business units, and we start with Bridges & Culverts, here we can see that we have an organic growth of 27.6% in the quarter, so a very strong development of this business unit. Here, it's especially clear that the situation with the delays in the customer projects decisions are improving and has improved since this summer. And that's also showing in the numbers, of course. If we look at the EBITDA, you can see a quite significant uplift, and that is a combination, of course, of the increased sales, but also the efficiency initiatives that's positively impacting our cost base. Here we can see a really strong order intake, 98.6% organically, and also in absolute numbers, a strong order intake, EUR 31 million compared to EUR 19 million the year before. Then if we move... Sorry, if we move to the GeoTechnical Solutions business unit, we see a decline in sales, -22% organically, and this is partly the effect of the delays we've mentioned, but also that we strategically have decided to exit business, which is not our core business and which is not giving us the profitability that we expect from this business unit. So this change and this efficiency work has a positive impact on our margins, as you can see. So despite the lower sales in the quarter, we are slightly above last year on EBITDA also in this business unit. Order intake was almost EUR 23 million in the quarter, which is slightly lower than last year. However, that was expected with the situation of delayed decisions from our customers. Yep, and then we move to the third and final business unit, which is StormWater Solutions. Quite similar pattern as you saw on GeoTechnical Solutions with a lower sales compared to last year. And the reason behind that is very similar to GeoTechnical Solutions. It's still these impacts from the high interest rates and inflation, which is delaying the decisions on our customer side. However, if you look at the EBITDA development, it's a very strong improvement. We have 13.9% EBITDA margin in the quarter, which is significantly above last year. If you look at the first nine months of this year, we are close to doubling our EBITDA in absolute numbers with more or less the same sales. So the efficiency improvements that we've been working on this quarter has a clear effect also on this business unit. Order intake also the similar pattern as we see in geotechnical solutions, with a slower intake due to the delays on the customer side. And then a quick look at our cash flow and our financial position. We had a positive cash flow of EUR 7.7 million in the quarter, coming from operating activities, and the impact from changing working capital was EUR 1.7 million, compared to EUR 5.8 million the same period last year. The main reason for that is increased sales and the higher activity in the quarter is making us tie up a little bit more capital than we did a year ago when the situation was a little bit different. We made some CapEx in the quarter, EUR 1.1 million, and that's to compare with EUR 2.8 million for the same quarter last year. Then if we look at our financial position, we have a net debt of EUR 101.6 million, but if we adjust that for the leasing liabilities, we are on EUR 91.2 million, which is a slight improvement compared to the same period last year. And our cash position is at EUR 17.8 million by the end of the quarter, and in addition to that, we have an undrawn credit facility of EUR 5 million, which we had used the same period last year. Our equity is more or less on the same level as this point in time last year at minus EUR 1.2 million. So that was the financials in a nutshell. And Stefan, I'll hand it over to you again. Thank you, Philip. So as usual, let's look a little bit into some case studies. We have selected two cases we wanted to share this morning. The first one is from the business unit, Bridges & Culverts Solutions. Here we were involved in helping a ski resort in Sweden. The place is Idre for any Scandinavian participants in this call. The challenges we faced here was that this site was expanding with a new gondola lift, more slopes, better lighting arrangements, a new snow system. So a lot of things going on in parallel here. They needed three tunnels to accommodate the increasing number of visitors. And during the installation time, they wanted to have no disruptions and continue to provide the best services to their customers. So that was one part of the challenge. So meeting all the environmental and social demands at the same time, along with the futuristic design of these tunnels and bridges, and a very fast construction requirement, fast construction time, added to the complexity of the opportunity that we were involved in. So we provided a full end-to-end solution, from design to technical advice to delivery. Installation was actually done by an external company, and based on the requirement and the more detailed requirement from the customers, in terms of cost and design requirements. And we were using two of our product solutions. We call them MultiPlate 200 and SuperCor structural plates in this case. So this meant that the tunnel design was changed from a concrete to steel and focused very much on sustainable construction solution which could be built quite quickly. Within two months this was installed and without disruption to the activity in the area. What we brought with our solution here was approximately 40% lower CO2 emissions compared to the concrete solutions, a much faster time to completion, quick and less disruptive assembly, low cost of the installation, long durability, lifespan of our solutions, and quite environmentally friendly, and aesthetically quite superior to an alternative concrete solution. Again, I underline, activity was able to go on while we were doing our work here. So that's one, quite a typical type of solution that we offer. The other one is about StormWater solution. It was actually on a hippodrome racecourse in Lyon, in France. The challenge that we faced here and that the customer challenged us with started with availability of water, actually. Since 2000, France has had 29 heatwaves, a 70% increase from the previous 53 years. Of course, this means that managing water resources in a sustainable way in this region is a challenge. This racetrack, of course, needs a lot of water to maintain the grass and for other reasons. So at the same time, unpredictable flash flooding and the opposite of this, near sudden drought, drought conditions, they are changing the way we live, not only in France, in many places in Europe. And these add to further demands when it comes to how to manage water. And it requires solutions such as water tanks and to both save water and to hinder flooding at the same time. So the hippodrome racecourse needed to address these water use challenges. And it included water tanks for water reuse, but also StormWater management to prevent the flooding. So the solution that we offered in this case, again, a full end-to-end solution, ensuring a very efficient high volume water management solution for the customer. The design, in the end, combined two different types of water management solution, using both our StormWater management, containing the water, and then, the reuse technologies enabled to, to use the water for irrigation, and other purposes on this racetrack. The advantages with our solution, up to 60% lower CO2 emissions compared to the alternative solutions. Much faster installation time, less disruption, to the activities, on the site. High volume, approximately 945 cubic meter net volume, that we can take of water in, in these tanks. And you see on the photo that it's not one tank, it's, multiple number of tanks here involved. Long durability lifespan, as usual with the steel solutions, and a good ease of transportation and very quick installation time. So again, quite a typical application and customer project where we are involved solving the direct problem for the customer, including sustainability and total cost, of course. So with that, we open up for any questions, and we will try to answer as good as we can. Thank you for that presentation. Like I said, now we jump into the Q&A section. We'll start with the first question. Typically, working capital is released in Q4, but seasonality is somewhat out of whack at the moment. What do you think about the working capital in Q4, and are there opportunities to optimize it further in the long term? If I start, and then you follow on, Philip. Yes, with the changed demand picture during 2023, maybe the word out of whack is the right statement compared to normal years. But both 2022 and 2023 have been quite challenging years, market-wise. Working capital is under very strong focus from us in the company, and to keep it as low as possible. And getting into Q4 with continued good activity, this is, of course, something that we are working with. But we are expecting to manage this level in the end to a good level for the full year 2023. There are further potentials to improve here, which we are including in our work beyond 2023. Anything you want to add there, Philip? No, I think you summarized it well. But of course, I mean, the strong performance of the third quarter will have a positive impact on our cash flow in the fourth quarter also. But then again, we expect a good activity, so we need, of course, also to have the raw material and the inventory to meet the demand from the customer also in the fourth and the coming quarters. So, yeah. Gross margin has been strong in 2023 year to date. Do you expect it to decline towards historical levels, or is there any reason for it to be maintained at a higher level? We are focusing very much on our gross margins, of course, in the company. We are, you know, a product company involved in selling solutions to our customers' projects. So measuring gross margin on a product type level is really key, and we have very good control of this. We have managed to manage these gross margins in quite a good level through a combination of the cost reductions that we have talked about, the intensified efficiency work, which address also direct labor productivity, not only the white-collar areas. With good pricing management coming from our sustainability and total cost advantages, we are enjoying a growth of the gross margins. We have the ambition and the targets to, of course, continue to keep the gross margins at a high level. Philip, anything you want to add? No, I think you said it well. Given the headcount reductions, are you confident you're able to operate the business at the same capacity as in recent years, or do you anticipate less demand, and are you planning accordingly? No, we do expect the market, as I said in the introduction here, to remain with good activities into Q4 and into 2024. It's important to repeat that the work we started in June was actually started already about a year ago. When we studied the way we are organized, the way we work across all our countries around in Europe, we realized quite early on that there are potentials to increase the efficiency. So we addressed this efficiency work through a structural approach, meaning that there is also, as we have shared at the earlier or at the closing of Q2, we are expecting a lasting positive effect from this efficiency work that we are doing now. So, this is to a lower degree a capacity adjustment. It's more a structural efficiency improvement and should not be read as our anticipation of lower market activities and sales going into 2024. Can you please comment on differences in performance, order intake, and revenue across the different countries? We don't disclose the performance in our different countries. We report in our key segments here, the three business units. But I would say this inflationary pressure and customer delays of orders, we have seen across the board in Europe. You know, maybe some markets are a little bit more hit than others, but there is no dramatic difference between our countries in Europe. Can you provide an update on your product licenses? When would they expire, and is this a concern? This is not a concern. This is something that, you know, we have all the licenses required, and we don't, you know. If any of them are expiring, our technical teams are constantly working on this. So if we, you know, if we not having the proper licenses, you know, that would really hurt us. And so we are not concerned about this question. You know, it's like you need your car key to drive your car in the morning. So it's quite obvious for us. Okay, thank you. Take the next question here. Can you elaborate on the factors contributing to the decrease in sales by 7.8% compared to the previous year, particularly with GeoTechnical Solutions and StormWater Solutions? When it comes to GeoTechnical, I think Philip covered that quite well. It's a combination of the, you know, the delays we have seen in Q1 and Q2. But it's also conscious decisions from our side to continue to drive the performance of the group to exit the low-margin businesses that to some degree still exist in Geotechnical, and that is not aligned with our plans and our strategies. So there is a two combination. But as an effect of it, we have seen quite a good growth of our gross product, gross margins in GeoTechnical as expected. And this supports the margin developing development in the overall group. StormWater, in StormWater, we are more exposed to the private industry or private construction market. And here, the inflationary pressure is clearer, and the high interest rates for private construction investors. So they have a lot of activities, and we are involved in many discussions in our different countries in Europe, but decisions are postponed to some degree. That's the majority of the effect in StormWater. Still, we are able to raise the performance of StormWater solution despite a lower volume. And as Philip presented, the year-to-date performance to September is quite strong. It's more or less twice as same period last year, and the margin, you know, 4 percentage points, now sort of double almost in the same period as well. Can you comment on the competitive conditions? Are there any new entrants entering the market and adding to the pricing pressure? In a market where decisions are postponed, you know, some players may always get quite nervous and quite active. But I want to emphasize, there is no competitor that is, you know, near the size of the ViaCon or has the spread around Europe as we have. We are more than 10x as big as number two and three and four, et cetera, of the direct competitors working with steel and GeoTechnical Solutions to some degree. So we can serve our customers, which often are the same type of construction companies. They are quite big around in Europe, like Swedish company Skanska or STRABAG from Germany, Austria. So yes, there is some pressure, but that is more on a local level, not on a Pan-European level. So we are managing this in quite a good way. What specific strategies led to the significant organic growth of 27.6% in the Bridges & Culverts Solutions business unit? Hold on just a second. I just want to see the numbers there again. Yeah, it was customer decisions, you know, started to happen to a good degree. Specifically, some very good orders came to us. This was actually in Turkey. It was not only Turkey, but Turkey was a bit special for us, coming from the earthquake earlier this spring. And our solutions are quite good in such situations as well, because you can erect and install them very quickly, and they are very technically strong and can quickly support the infrastructure environment. This is just an example. This was not only the only orders we had in Q3, they were from many other markets as well. But BU or the business unit Bridges & Culverts they are more or less 100% working with infrastructure, and those investments are you know fully backed by national authorities and dedicated EU investments for infrastructure. So decisions had to be made in order to keep the paces up in infrastructure projects around in Europe. So it was a little bit the plug leaving the bathtub in Q3. And we continue to see this good activity into Q4 and into beginning of 2024. How sustainable is the growth seen in Bridges & Culverts Solutions, and what measures are in place to maintain or improve this performance? Yeah, as I just indicated, we continue to see a good market activity in that business unit in Q4 and into the beginning of 2024. There is still a lot of EU funds and national funds investments going into infrastructure all over Europe, both for refurbishing old infrastructure, which you see a little bit more of in Western Europe, and a little bit more of new infrastructure in Eastern European countries. We are very well positioned to take part of this growth, and we continue to drive our very proactive sales methodology, meaning that we work very early with the national authorities to make sure steel is part of the technical specification when these infrastructure projects come out for bidding from the different construction firms. So we are intensifying that work. With our cost reductions we've done, we expect to see a growth on the top line driven by the market and our ability to continue to take market shares with sustainability and total cost advantage, and thereby have a good performance into the future as well. We are very well positioned to participate in a good way here. Do you anticipate concrete becoming more competitive as prices are falling there? I don't know what the reference is on prices falling. We track costs of steel on a weekly basis. We also track cost of concrete on a weekly basis, and cost of concrete, by the way, concrete bridges includes 30%-40% of rebar steel reinforcements, as well, are following each other quite well. But of course, long-term, the concrete industry is also working on becoming greener, and there are new technologies for concrete coming, you know, gradually into play, but this is more of a long-term plan to reduce their CO2 emission. But when it comes to steel, the steps of making the steel even more greener than what it already is, are, you know, much more evident and available to us already today. And, we actually have some order opportunities that we are now discussing with customers when it comes to green steel. And green steel, you can see in two steps. The first is the steel mills using greener power for their usage, but also using a higher degree of reused steel. And this is available to us already now. The second step is, of course, to use hydrogen-based steel production, and that is another maybe two years away before we see that in our factories. Green concrete, that is, before that has a major impact, that is many years away. And we, by then, we will be, even lower, on the steel, CO2 emission. Long answer, but I think it was necessary in this case. Perfect. Thank you. How has the efficiency work impacted the overall operations and financial performance across all business units? Very well, as Philip just presented here in the numbers. It has had no negative impact on our performance because we have approached this from a structural perspective to its absolute majority, meaning that the potential was already there, but we took the chance when we saw the lower performance in Q1 and Q2 to intensify the work and do this as quickly as possible. Otherwise, we would have done it over perhaps a year or a year and a half. Besides operating profit, what other elements contributed to the positive cash flow during the quarter? We have a positive impact on the working capital. But I would say the main contributor is, of course, the strong performance of our EBITDA. So it's a combination, and we, as I showed previously, we have a quite low level of CapEx for the moment, and we monitor that and do selective CapEx when needed. So I think it's all the elements included in the cash flow that is supporting the development. I would say. The work with improving the cash flow and optimizing the working capital continued this year very successfully, especially zooming in on the inventory levels and the receivables in different parts of our organization, and that is also driving the development. Okay, Stefan and Philip, that was all of the questions that we had. Thank you very much for presenting today and answering all of our questions. Also a big thanks to everyone who followed along ViaCon 's webcast today. Thank you very much, and until next time.