Aker ASA Q1 FY2022 Earnings Call

Joachim Bjorni: Hi, everyone and good morning. Welcome to this presentation of Aker's First Quarter Results for 2022. We'll start today's presentation with Aker's President & CEO, Øyvind Eriksen, we'll walk you through the highlights in the quarter and how the Industrial Holdings portfolio developed. Our CFO, Svein Stoknes will then cover the Financial Investments portfolio in the first quarter accounts in more detail. There will be a Q&A session following the presentation. [Operator Instructions] With that, I hand it over to Øyvind Eriksen. Øyvind Eriksen: Thank you, Joachim and then good morning, everyone. As we stand here today, the world order has been upended by Russia's invasion in Ukraine. Amid such a brutal and senseless conflict, the significance of a single company's first quarter results pales. The war has triggered a fundamental transformation of energy markets. The surge in oil and gas prices has unveiled vulnerability of entire energy systems, still too dependent on imported fossil fuels. The key focus, especially in Europe, is now on energy security and energy transition and how future energy demand can be supplied without being dependent on imported oil and gas, particularly from Russia. While it's impossible to predict the long-lasting impact of the ongoing war in Ukraine, it appears likely that the war will speed up the energy transition as well. With Aker BP and Aker Horizons, Aker is positioned to contribute to both European energy security and to the ener