 Hi, my name is Þaðurðurður Hálgaðóðir and I'm the CEO in Iceland Post. I've been here for two years now and I started as a CFO in August 2019 and as a CEO in December 2020. So I'm quite new to this role. There are a few topics I would like to share with you today or go over and thank you for giving me this opportunity. Lessons from the global pandemic. Just to give you a brief on what I'm talking about here today is what we have learned from the global pandemic, what we are focusing on in Iceland and a little about what we can do to stay relevant to the market. Pandemic-related factors reinforce trend towards online shopping and towards faster decline in letters faster than we anticipated. We saw that information is valuable both to our customers and also to our employees. So we saw the urgency in bridging the physical and digital worlds. Ata-thinking in Iceland allows us to act faster to allow our employees to make faster decisions to go with the customers. So we think the best part of pandemic is the fast track growth for the B2C deliveries. Letters are declining faster than we anticipated. Many companies and also the Icelandic authorities have said that they are not going to send out any letters after 2025. It's only four years from now. I believe that COVID has acclerated that development. So like last year we anticipated 50% decline in letters but the reality was 21% decline. And that's also worldwide. We are forecasting this development to be around 20% for the next few years as you can see on the slide. And I also believe that the climate policy is also affecting this and companies are more and more sending out electric inverses and statements through their systems instead of sending them by post. For example, wait statements for almost all Icelandic people are not sent by mail. As you can see our forecast assumes that in the year 2026 the quantity of letters in parcel are even. But last year for the first time parcel generates more revenues for us than letters. To stay ahead in competition there are a lot of things we need to do together. Like focus on information flow through the global system so parcel will go smoothly and faster through to our customers. We are developing fast into different markets and we need to put our strength together and stay strong. Our focus from 2019 have been mainly on two things. We are increasing service to our customers and cutting cost. The status on the company was really bad in the late 2019 so we had to make some arrangements. We were 822 employees instead of today we are 556. So we are much fewer employees doing the same job or even more. We are first and foremost last mile couriers so to increase our information flow to our customers we have been developing better tools for them to use online. For example an app. An app where the customer can just go on its phone and see where is my parcel, where is my packet. When is it going to our app to me. So that's great. We have been investing in parcel lockers. We had 8 for a few years but at the end of 2021 we will have 50 around all Iceland, the whole island. So when also when this presentation is played I hope the new packet source will be up and running in the post-termiler so instead of sourcing out 800 parcel per hour we will be able to sort out 4000 and that will help us a lot in the operation. At our service desk we are finally having a tjahtbot which is a miracle. That's going to help us a lot. So all the investments we have all the investments for the last two years aims to strengthen our ties with our customers and lower our cost. It's ambitious to operate in all places in Iceland because it's a big island. It's a huge island with a density of 3.5 per square kilometre. 66% of the Icelandic population is in Reykjörg and the head capital area. But the good thing, very good thing is that 99% of the whole population has access to the internet which helps us a lot. We are focusing on putting parcel lockers all around Iceland to increase our service to our customers everywhere and of course to cut down cost. Everyone in Iceland is our customer no matter where they live. We are the only company in Iceland that operates everywhere around Iceland and our main competition is in the capital area. But I think if the global postal community wants to stay ahead in competition we believe that AED compliance will help us. The customer is asking for more information and faster delivery. The customer is asking for more information so they can act faster on our customers' demand. We believe this to be the best practice and in the long run helping us to stay ahead in the competition. And the beauty of it all it decreases cost because it's only one input and decreases the risk of manual mistakes. Our goal here is 100% in and out. I believe this is a win-win situation. But how can we as a global postal operators stay relevant to the market? Our vision is that we meet the customer where he is at the right place and time and we think that's relevant. The time passes and the customer needs changes but we want to be there with him, holding his hand and helping him through the better and the worse. Our purpose has not changed through the years. Our purpose is to connect people, companies and communities with our service and we will continue to do that. We need to stay ahead and know the customer's journey and be aware of what he wants all the time. Yesterday he wanted letters but today he wants to be able to shop online and get the goods as fast as possible in his hands. I believe that this strong society like the global postal world is the key to the customer's needs. So thank you and have a nice day.