Paradox Interactive AB (publ)

Hello and welcome to the year end report and quarter four report for Paradox Interactive. My name is Fred. I'm Alex Brycka. I'm the CFO. Welcome everyone. Welcome. So we'll take you through the releases and the numbers for the quarter.

Yes, let's roll.

And that's my name. And as you know, we had a very eventful last quarter. It was intense for many reasons. We had a lot of releases, first and foremost, so we released DLCs for all our major franchises. We created a good cash flow and a strong top line, where the results were hampered by a big write-off in the quarter. So we had a great release of Europa Universalis V, which took this franchise to the next level, and it also celebrated 25 years last year, so it was a good time to release it as well. And we had some good results for a wider range of DLCs as well. Worth mentioning is the All Under Heaven DLC for Crusader Kings III that expanded the map all the way to Japan. And as I said, the profit line or EBIT is affected by a big write-down of the game Vampire the Masquerade Bloodlines 2. And we were also facing some foreign exchange headwinds with a stronger krona and a weaker dollar, among other things. So we'll move on. If you look at the year as a whole, we had a year on year improvement of cash flow, which is always a great sign. We strengthened the balance sheet as well during the year and got a new balance on the balance sheet. We released, like I said, a new base game in Europa Universalis 5 and strengthened all the core of our IPs by having a constant flow of releases. We established two new franchises as well, so Victoria 3 and Age of Wonders 4 are now both part of our catalogue with growing player numbers and we hope to continue these games for a long time, typically 10 or more years. So, we also strengthened our foundation for building up the management games capabilities. We acquired Hememont Games in February, creators of, among other games, Surviving Mars and Tropico 3 and Tropico 4, and we took the Cities Skylines franchise in-house, and we can already see the positive effects in the community of Cities Skylines 2. So, those are all great news. If we want to look specifically at the releases this quarter, I mentioned Europa Universalis V, I mentioned All Under Heaven, we released Stellaris Infernals, we released Age of Wonders Thrones of Blood, Hearts of Iron IV, No Compromise, No Surrender, Victoria III, Iberian... Twilight. Twilight, thank you very much, and a smaller DLC for Victoria III during the same chapter of the game. On the management segment, we did a relaunch of the game Surviving Mars. It's been very popular in the community. We see great retentions. We hope to keep developing this game for a long time as well. And we released finally the first big DLC for Cities Skylines 2, Bridges and Ports, which had great results, great reviews and also good sales. At the same time we released for Cities Skylines 2 two content creator packs and two audio packs. So talk about a very busy quarter. Other releases I touched briefly upon Vampire the Masquerade Bloodlines 2 and we also for our deck builder across the obelisk we released Necropolis of the Damned which has been quite well received and also good sales for the franchise. We'll see what happens if we can build that franchise over time together with Surviving Mars. They're a bit smaller at the moment. And I'll leave to Alex for the numbers, a walkthrough.