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Category: Australia

  • MIL-OSI USA: Murray, Schrier Lead Letter to Energy Secretary on Trump and Musk’s Indiscriminate Firings at Bonneville Power Administration, Threatening PNW Energy Reliability and Increased Costs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: Senator Murray on Trump Indiscriminately Firing Workers at Hanford and Bonneville Power Administration, Threatening Energy Security in Washington State

    ***FACT SHEET: Impact in Washington State of Trump and Musk’s Reckless Mass Layoffs***

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, and Congresswoman Kim Schrier, M.D. (D, WA-08) led their colleagues in Washington’s Congressional delegation—U.S. Senator Maria Cantwell (D-WA) and Representatives Suzan DelBene (D, WA-01), Rick Larsen (D, WA-02), Emily Randall (D, WA-06), Pramila Jayapal (D, WA-07), Adam Smith (D, WA-09), and Marilyn Strickland D, WA-10),—in sending a letter to Department of Energy (DOE) Secretary Chris Wright laying out their grave concerns with Donald Trump and Elon Musk’s recent mass firings at the Bonneville Power Administration (BPA) and how these reckless layoffs threaten grid reliability for the people in Washington state.

    “Pursuant to President Trump’s Executive Order (EO) 14210, last week DOE implemented large scale, department-wide reductions in the workforce. At the Bonneville Power Administration, these have been nothing short of devastating, totaling nearly 20 percent of BPA’s total headcount. These public servants literally helped keep the lights on for tens of millions of Americans. Beyond harming BPA’s ability to address existing and future needs, these cuts immediately jeopardize the reliability of the Pacific Northwest’s electrical grid and severely hamper economic development in the region. Such significant reductions in BPA’s workforce will result in increased costs to consumers and delays to further economic investments in the Northwest,” the Members wrote.

    BPA provides 28 percent of the Pacific Northwest’s electric power, ensuring affordable electricity for more than 13 million people across Washington, Idaho, Oregon, and Western Montana. BPA owns and operates 75 percent of the Northwest’s high voltage electrical transmission system, amounting to over 15,000 miles of transmission lines—the services BPA provides support the entire Northwest. Importantly, BPA does not receive federal funding—Northwest ratepayers ensure that BPA is able to remain self-funded.

    Last week, Senator Murray raised the alarm immediately after hearing about mass firings at BPA—between employees who were fired, those whose job offers were rescinded, and those who took the “Fork in the Road offer,” we estimate that BPA is losing between 450 and 600 skilled workers as a result of Trump and Elon Musk’s attempts to gut the federal workforce. This includes everyone from electricians and engineers to dispatchers, lineworkers, cybersecurity experts, and so many other people who help keep the lights on in the Northwest. Again, these are positions funded by ratepayers.

    “Beyond those fired, hundreds of BPA employees opted in to OPM’s so-called ‘deferred resignation’ program, which will leave critical positions open without the ability to backfill easily. Both workers and ratepayers are now left without certainty on what funding will be used or when payments under this legally dubious program will begin. Encouraging resignation of these highly specialized workers alone risks grid reliability and stable rates in the region, draining BPA’s institutional knowledge with no solution to account for these additional vacancies,” the Members continued.

    “The EO also calls for further large-scale Reductions in Force (RIFs). There may also be further firings of probational employees. Additionally, the EO requires the hiring of ‘no more than one employee for every four employees that depart.’ BPA cannot afford to follow through on such directives. The EO states that workforce reductions ‘shall not apply to functions related to public safety’—ensuring the reliable provision of electricity is clearly a matter of public safety. As such, we call on you to continue to swiftly rescind the terminations of staff and reverse rescinded job offers at BPA, in acknowledgement of the critical role that these employees play ensuring grid reliability in the Northwest. It cannot be stated more plainly: this is a matter of life-and-death for millions of Americans,” the Members wrote.

    The Members concluded by asking Secretary Wright to rescind the terminations of BPA employees, reverse rescinded job offers, and “explain why BPA employees were not deemed necessary to meet public safety responsibilities and exempted from last weeks’ workforce reductions in the first place.”

    A PDF of the full letter is available HERE.

    Yesterday, Senator Murray released this fact sheet detailing Washington state impacts of Trump and Elon Musk’s reckless assault on the federal workforce, and late last week she immediately released a national fact sheet detailing how Trump and Musk’s mass firings at all manner of federal agencies will hurt families, veterans, small businesses, farmers, and so many others across the country who need a government that works for them. Senator Murray has spoken out repeatedly on the Senate floor against this administration’s attacks on federal workers, and recently sent an open letter to federal workers and a newsletter to her constituents in Washington state outlining her concerns with the administration’s so-called “Fork in the Road” offer. Senator Murray has also sent recent oversight letters demanding answers about indiscriminate staffing reductions across federal agencies including to HUD Secretary Scott Turner on reports of massive staff cuts at HUD, Interior Secretary Doug Burham on National Parks Service staffing cuts, and Acting USDA Secretary Gary Washington on the universal hiring pause for USDA firefighters, among others.

    MIL OSI USA News –

    February 21, 2025

  • MIL-OSI Submissions: Democratic Republic of Congo: MSF staff member critically injured in Masisi town after shots hit MSF base

    Source: Médecins Sans Frontières/Doctors Without Borders (MSF)

    Kinshasa/Goma/Brussels, 20 February 2025 – A staff member from international medical organisation Médecins Sans Frontières/Doctors Without Borders (MSF) has been critically injured after shots hit the MSF base in Masisi town, in Democratic Republic of Congo’s North Kivu province, on the morning of 20 February. A child who had sought refuge with his family in the MSF compound was also wounded by gunfire. MSF strongly condemns the shootings, which seriously undermine the principle of protecting aid workers and humanitarian facilities in times of conflict.

    “This morning, one of our colleagues on duty at the MSF base in Masisi was seriously injured by a bullet – one of many bullets to hit our premises over recent weeks,” says MSF head of programmes Stephan Goetghebuer. “Unfortunately his life is in danger. During the shootings, a child who had taken refuge at our base was also slightly injured by a bullet. We strongly condemn this latest episode of violence, which has directly impacted a humanitarian facility that should be protected from gunfire.”

    Since early January, the area in and around Masisi town in southern North Kivu province has been fought over almost daily by VDP/Wazalendo fighters (allied with the Congolese army) and the M23/Alliance Fleuve Congo (AFC). The clashes have led to an influx of wounded – most of them civilians – at Masisi general referral hospital, which is supported by MSF, while thousands of people have sought refuge at the MSF base and the hospital compound.

    “On Thursday, intense fighting, including the use of heavy weapons, took place in the town itself, which has been controlled by the M23/AFC since mid-January,” says Goetghebuer. “Notably, fighting took place between the MSF base and the market in front of the hospital, where thousands of people have been sheltering for days.”

    Since early January, Masisi hospital, the MSF base and the immediate surroundings have been the scene of numerous serious incidents.

    On 16 January, two civilians were shot in front of Masisi hospital; one was killed. On 19 January, the hospital and MSF base came under fire and two MSF staff were injured when a rocket hit MSF’s garage next to the hospital. On 28 January, a woman was shot dead during clashes that took place between the MSF base and nearby MSF office. On 16 February, a Ministry of Health staff member was wounded by a stray bullet that entered the hospital.

    “These violent, recurring incidents are unacceptable,” says Goetghebuer. “Despite our repeated appeals to the warring parties to protect humanitarian and health facilities, the safety of patients and medical and humanitarian staff is clearly not being taken into account. Humanitarian law is being flouted. This must stop.”

    Masisi hospital, supported by MSF since 2007, has received dozens of war-wounded in recent days.

    In view of the repeated violent incidents affecting MSF’s work in Masisi town, MSF is currently considering how to adapt its activities in the region, where people’s medical and humanitarian needs are massive.

    MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF has been working in Haiti for over 30 years, offering general healthcare, trauma care, burn wound care, maternity care, and care for survivors of sexual violence. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. In 2022, more than 120 project staff from Australia and New Zealand worked with MSF on assignment overseas. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

    MIL OSI – Submitted News –

    February 21, 2025

  • MIL-OSI New Zealand: Tech and Security – New Zealand’s digital wellbeing ranking declines with the biggest setback in internet affordability

    Source: SurfShark

    The Digital Quality of Life Index is an annual study that ranks 121 countries by their digital wellbeing based on 5 core pillars: internet quality, internet affordability, e-security, e-infrastructure, and e-government                                

    Surfshark’s Digital Quality of Life Index (DQL) 2024 ranks New Zealand 32nd in the world. The study indicates how well the country is performing in terms of overall digital wellbeing compared to other nations. New Zealand dropped by five places from last year, which suggests the commitment to develop the digital landscape and position the country as a leader in leveraging technological advancements to improve citizens’ quality of life has slowed down. (ref. https://surfshark.com/research/dql )

    “In an election year like 2024, where the digital realm shaped political discourse and societal values, prioritizing digital quality of life proved to be more important than ever. It helps to ensure informed citizens, protects democratic processes, and fosters innovation. Our annual project helps to better understand where each county stands in terms of digital divide, highlighting where a nation’s digital quality of life excels and where further focus is required,” says x, Surfshark’s spokesperson.

    Out of the Index’s five pillars, New Zealand performed best in e-infrastructure, claiming 19th place, but faced challenges in e-security, ranking 36th. The nation ranks 23rd in e-government, 30th in internet affordability, and 35th in internet quality. In the overall Index, New Zealand surpasses Australia (37th) but lags behind the UK (9th). In Oceania, New Zealand takes 1st place and leads the region.    

    New Zealand ranks higher in e-government than 81% of the countries analyzed, with 98 countries falling below it.       

    E-government determines how advanced and digitized a country’s government services are. A well-developed e-government helps minimize bureaucracy, reduce corruption, and increase transparency within the public sector. This pillar also shows the level of Artificial Intelligence (AI) readiness a country demonstrates. Countries with the highest readiness to adopt AI technology are also ready to counter national cyberthreats. New Zealand ranks 23rd in the world in e-government — nine places lower than last year.

    New Zealand is 36th in the world in e-security — same as last year.  

    The e-security pillar measures how well a country is prepared to counter cybercrime and how advanced a country’s data protection laws are. New Zealand outperforms Australia, which ranks 42nd, but lags behind the UK, which takes 23rd place in the e-security pillar. New Zealand is prepared to fight against cybercrime; the country has good data protection laws.     

    “New Zealand has robust data protection laws, with its Privacy Acts sharing key similarities with the GDPR — one of the world’s strictest data protection frameworks. Both regulate data collection, usage, and transfers; however, unlike the GDPR, New Zealand’s Privacy Acts do not emphasize consent or address rights such as data erasure, objection, portability, or DPIAs. On the other hand, they provide more detailed guidelines for information sharing with public agencies. Despite strong data protection laws, improving New Zealand’s ability to combat cybercrime remains an important area for growth. A 2024 study by telecommunications company Kordia highlighted vulnerabilities affecting businesses, including third-party vendor failures, cloud misconfigurations, and security lapses. Strengthening e-security will be key to enhancing New Zealand’s digital quality of life in the future,” says x, Surfshark’s representative.

    New Zealand’s internet quality is 17% higher than the global average.                                              

    New Zealand’s fixed internet averages 240Mbps. To put that into perspective, the world’s fastest fixed internet — Singapore’s — is 347Mbps. Meanwhile, the slowest fixed internet in the world — Tunisia’s — is 14Mbps.

    New Zealand’s mobile internet averages 152Mbps. The fastest mobile internet — the UAE’s — is 430Mbps, while the world’s slowest mobile internet — Yemen’s — is 12Mbps.

    Compared to Australia, New Zealand’s mobile internet is 5% slower, while fixed broadband is 115% faster. Since last year, mobile internet speed in New Zealand has improved by 19%, while fixed broadband speed has grown by 9%.  

    Despite the setback, the internet is affordable in New Zealand compared to other countries.        

    New Zealanders have to work 1 hour 15 minutes a month to afford fixed broadband internet. While this is less than average, it is 5 times more than in Bulgaria, which has the world’s most affordable fixed internet (Bulgarians have to work 14 minutes a month to afford it). 

     
    New Zealanders have to work 51 minutes 19 seconds a month to afford mobile internet. This is 4 times more than in Angola, which has the world’s most affordable mobile internet (Angolans have to work 9 minutes a month to afford it).              

    “This year’s Digital Quality of Life (DQL) ranking revealed a decline in New Zealand’s internet affordability. And DQL is not the only research that highlights this — recent research from Cable.co.uk placed New Zealand 128th globally for broadband affordability. The average monthly broadband cost in New Zealand was reported at NZD 82 — a staggering twenty times higher than Sudan, which topped the list as the most affordable. An expert from Cable.co.uk also noted that the high cost of broadband in developed nations like New Zealand is not necessarily due to the expense of deploying advanced infrastructure but is often influenced by higher earnings and market conditions. To improve its overall digital quality of life, New Zealand may need to look deeper into enhancing its internet affordability,” says x, Surfshark’s representative.

    New Zealand is 19th in e-infrastructure.  

    Advanced e-infrastructure makes it easy for people to use the internet for various daily activities, such as working, studying, shopping, etc. This pillar evaluates how high internet penetration is in a given country, as well as its network readiness (readiness to take advantage of Information and Communication Technologies). New Zealand’s internet penetration is high (96% — 14th in the world), and the country ranks 23rd in network readiness.

    On a global scale, investing in e-government and e-infrastructure improves digital wellbeing the most.                                      

    Among the five pillars, e-government has the strongest correlation with the DQL Index (0.92), followed by e-infrastructure (0.91); internet affordability shows the weakest correlation at 0.65.        

    METHODOLOGY

    The DQL Index 2024 examines 121 nations based on five core pillars that consist of 14 indicators. The study is based on the United Nations’ open-source information, the World Bank, and other sources. New Zealand’s full profile in the 2024 Digital Quality of Life report and an interactive country comparison tool can be found here: https://surfshark.com/research/dql/country/NZ

    NOTES

    Surfshark is a cybersecurity company focused on developing humanized privacy and security solutions. The Surfshark One suite includes one of the very few VPNs audited by independent security experts, an officially certified antivirus, a private search tool, and a data leak alert system. Surfshark is recognized as the Tech Advisor’s Editor’s Choice for 2024. For more research projects, visit our research hub at: surfshark.com/research

    MIL OSI New Zealand News –

    February 21, 2025

  • MIL-Evening Report: Fiji’s diplomatic move to Jerusalem sparks controversy with Palestine

    RNZ Pacific

    Fijian Prime Minister Sitiveni Rabuka’s announcement this week that the island nation will open a diplomatic mission in Jerusalem has been labelled “an act of aggression” by Palestine.

    On Tuesday, the Fiji government revealed that Cabinet had decided to locate its consulate in Jerusalem, which remains at the centre of the Palestine-Israel decades-long conflict.

    According to an overwhelming United Nations General Assembly Resolution ES‑10/19 on 21 December 2017 (128-9), Israel’s claim to Jerusalem as capital of Israel is “null and void”.

    Previous UN Security Council resolutions demarcated Jerusalem as the capital of the future state of Palestine.

    The Fijian government said in a statement: “Necessary risk assessments will be undertaken by the Ministry of Foreign Affairs and the Ministry of Defence, in consultation with relevant agencies, prior to and during the establishment process.”

    Fiji and Israel established diplomatic relations in 1970 and have partnerships in security and peacekeeping, agriculture, and climate change.

    In a Facebook post on Wednesday, Rabuka said he “received a phone call from my friend Prime Minister Benjamin Netanyahu, expressing his gratitude for Fiji’s decision to open a diplomatic mission in Jerusalem.”

    “Even though very brief, we reaffirmed our commitment to strengthening Fiji-Israel ties,” he said.

    I commend the Republic of Fiji’s government for its historic decision to open an embassy in Jerusalem, the eternal capital of the Jewish people. Thank you, Prime Minister Sitiveni Rabuka @slrabuka, friend of Israel. Thank you Fiji! 🇮🇱🇫🇯 pic.twitter.com/IxCkjPnhQ6

    — Gideon Sa’ar | גדעון סער (@gidonsaar) February 18, 2025

    “I also took the opportunity to express my deepest condolences for the tragic events of October 7, 2023, when Hamas attacked innocent lives in Israel.

    Palestine’s Ministry of Foreign Affairs condemned Rabuka’s decision and is demanding the Fijian government “immediately reverse this provocative decision.”

    ‘Violating international law’
    “With this decision, Fiji becomes the seventh country to violate international law and UN resolutions regarding the city’s legal and political status and the rights of the Palestinian people,” it said in a statement.

    The seven countries include Papua New Guinea.

    The Palestinian Ministry of Foreign Affairs strongly condemns the decision of PM @slrabuka to relocate Fiji’s embassy to occupied #Jerusalem.

    This move blatantly violates international law and UN resolutions, and places #Fiji on the wrong side of history. https://t.co/5x1bCECNXO

    — Palestine Australia, Aotearoa NZ and Pacific (@PalestineAusNZ) February 19, 2025

    “This decision is an act of aggression against the Palestinian people and their rights.

    “It places Fiji on the wrong side of history, harms the chances of achieving peace based on the two-state solution, and represents unacceptable support for the occupation and its crimes.”

    The statement added that Fiji’s move “blatantly defies UN resolutions at a time when the occupying power is escalating its attacks against Palestinians across all of the Palestinian Territory, attempting to displace them from their homeland.”

    The ministry said that it would continue to take political, diplomatic, and legal action against countries that opened or moved their embassies to Jerusalem.

    “It will work to hold them accountable for their unjustified actions against the Palestinian people and their rights.”

    In September 2024, Fiji was one of seven Pacific Island nations that voted against a United Nations resolution to end Israel’s occupation of Palestine.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    February 21, 2025

  • MIL-OSI Australia: STATEMENT FROM BUREAU OF METEOROLOGY – BUREAU OF METEOROLOGY CEO AND DIRECTOR OF METEOROLOGY

    Source: Weather Warnings – Australia

    20/02/2025

    Issued: Thursday 20 February

    The CEO of the Bureau of Meteorology and Director of Meteorology, Dr Andrew Johnson PSM has today advised of his intention to conclude his term in early September 2025.

    Dr Johnson joined the Bureau in September 2016 and over the last 9 years has led its transition to a fully integrated national weather service providing trusted and critical services to the Australian community every day.

    Under Dr Johnson’s leadership, the Bureau has implemented new and upgraded weather, water, marine and space services, expanded its observing capabilities, and improved the accuracy and timeliness of its forecasts and warnings, while ensuring more secure, stable and resilient operations. International relationships have also strengthened, especially in the Pacific where the Bureau has played a leading role in supporting Pacific Islands nations to prepare for and respond to the impacts of severe weather in a changing climate.

    This work has ensured that the Bureau remains one of the world’s most respected meteorological agencies.

    Statement from The Hon Tanya Plibersek: Statement: Bureau of Meteorology CEO and Director of Meteorology | Ministers

    Quotes attributable to Bureau CEO Dr Andrew Johnson PSM:

    “I have a deep sense of gratitude for having had the opportunity to contribute to the safety, security and prosperity of our nation.”

    “I am immensely proud of what our organisation has achieved during my time at the Bureau. We have delivered a significant expansion and uplift in the vital services we provide every day to the Australian community.”

    “Most importantly, we have delivered during successive fire, flood and tropical cyclone emergencies when our nation has needed us most.”

    “I feel fortunate to have worked with the many talented, dedicated and professional people at the Bureau, and I thank my colleagues for their tireless work.”

    ENDS

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: Low and Mid-Rise policy to unlock 112,000 homes in five years

    Source: New South Wales Government 2

    Headline: Low and Mid-Rise policy to unlock 112,000 homes in five years

    Published: 21 February 2025

    Released by: The Premier, Minister for Planning and Public Spaces

    The Minns Labor Government’s Low and Mid-Rise policy is set to deliver 112,000 homes across New South Wales over the next five years as the next stage of the policy comes into effect.

    The new reforms change planning controls within 800 metres, or 10-minute walk, around 171 town centres and stations to allow dual-occupancies, terraces, townhouses and residential flat buildings across metropolitan Sydney, the Central Coast, Illawarra-Shoalhaven and Hunter regions.

    Without these changes, New South Wales risks becoming a city without a future because it’s simply too expensive to put a roof over your head.

    The Low and Mid-Rise housing policy will reintroduce housing choice and diversity back into our communities, filling the “missing middle” between high-rise apartments and greenfield development.

    Terraces, townhouses and residential flat buildings have a long history in NSW urban planning, but over recent decades have effectively been banned across local government areas.

    Currently, only two of 33 councils in Greater Sydney allow terraces and townhouses in low-density (R2) zones, and residential flat buildings are prohibited in 60 per cent of all medium-density (R3) zones.

    The NSW Government’s changes will remove the restriction on developing terraces, townhouses and low-rise residential flat buildings on R1 and R2 zoned land, while also removing the restriction on delivering medium rise residential flat buildings on R3 and R4 zoned land in these areas.

    These changes still allow councils to assess important development conditions including parking, light access and minimum frontages.

    Allowing these housing types to be permissible again will boost housing supply around transport and town centres, improve affordability, maintain the character of an area and build better communities.

    Sites were selected considering the following criteria:

    • Access to goods and services in the area
    • Public transport frequencies and travel times
    • Critical infrastructure capacity hazards and constraints
    • Local housing targets and rebalancing growth

    These planning reforms will further enable the rollout of the NSW Pattern Book, so those families, young people and downsizers who select these architecturally designed low and mid-rise designs will be able to build them in areas now zoned for low and mid-rise housing.

    The Low and Mid-Rise policy has been consulted on extensively, with the NSW Government publicly exhibiting the policy and carefully considering feedback from councils, town planners, architects, developers, Government agencies, and community groups.

    Due to the extent of bushfire and flood hazards, the Blue Mountains, Hawkesbury and Wollondilly Local Government Areas, have been excluded from stage 2 of the reforms.

    Similar to the Transport Oriented Development sites, the planning controls will apply in heritage conservation areas with council assessment and approval, however not on heritage items.

    This is part of the Minns Labor Government’s plan to build a better NSW with a greater choice of homes, so young people, families and workers have somewhere to live in the communities they choose.

    The policy will come into effect on 28 February 2025.

    For more information visit the Low and Mid-Rise Housing Policy webpage. 

    Premier of New South Wales said:

    “These types of homes have played a really important part in delivering homes over the last century but recently councils have effectively banned them, this reform changes that.

    “Housing is the single largest cost of living pressure people are facing and these changes will deliver more homes for young people, families and workers.

    “The homes built under these reforms will be close to transport, open spaces and services that people need, creating better connected and more liveable neighbourhoods by making the most of existing critical infrastructure.”

    Minister for Planning and Public Spaces Paul Scully said:

    “This policy fills a gap in new housing supply. Allowing low and mid-rise housing in more locations will help increase the number of homes in our state, improve affordability for renters and buyers and give people a choice on the type of home they want to live in.

    “Housing choice and diversity is at the heart of the Minns Government’s planning reforms – a choice of where they want to live, what kind of home they want to live in and when they want to make that move.

    “There has been increasing demand for well-located, medium-density housing. These reforms build on the reforms introduced on 1 July 2024, which allowed dual occupancies and semi-detached homes to be built on nearly all low-rise residentially zoned land in NSW.

    “This will unlock the huge potential of the NSW Pattern Book, with the new patterns being allowed in the areas where these planning controls apply. Those that use the Pattern Book will be able to build in these areas and gain access to a fast-tracked planning approval.”

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: NSW Government cracks down on antisemitism and other hatred as three new bills pass Parliament

    Source: New South Wales Government 2

    Headline: NSW Government cracks down on antisemitism and other hatred as three new bills pass Parliament

    Published: 21 February 2025

    Released by: The Premier, Attorney General

    The Minns Labor Government has passed three new bills to ensure the community is protected from racial hatred, offensive Nazi symbols, and desecration and harassment at places of worship.

    The Government’s package of legislation was developed in response to a series of unacceptable antisemitic attacks that caused community division and fear.

    The Crimes Legislation Amendment (Racial and Religious Hatred) Bill 2025, Crimes Amendment (Places of Worship) Bill 2025, and Crimes Amendment (Inciting Racial Hatred) Bill 2025 all passed the Parliament overnight.

    The legislation will create new offences and provide for tougher penalties for existing charges.

    It will soon be a crime to:

    • Intentionally block, impede or hinder a person from accessing or leaving, or attempting to access or leave, a place of worship without a reasonable excuse.
    • Harass, intimidate or threaten a person accessing or leaving, or attempting to access or leave, a place of worship.

    Such conduct is punishable by a fine of $22,000 or two years’ imprisonment, or both.

    It will also be a crime to intentionally and publicly incite hatred towards another person, or group of people, on the grounds of race – with an exception for directly referencing religious texts during religious teachings or discussions.

    The incitement of racial hatred will attract a maximum penalty for an individual of two years’ imprisonment, fines of up to $11,000, or both, while corporations can face fines of $55,000.

    Our legislation also:

    • Clarifies that graffiti is a “public act” for the purposes of the offences of threatening or inciting violence and displaying Nazi symbols;
    • Provides for tougher sentencing for displaying by public act a Nazi symbol on or near a synagogue, the Sydney Jewish Museum or a Jewish school; and
    • Aggravates sentences when a person’s conduct is partially or wholly driven by hate.

    The laws send a clear message that we take racial hatred and antisemitism seriously, and we are prepared to act quickly and decisively to protect the community.

    NSW Premier Chris Minns said:

    “The Government has acted quickly in response to disgusting acts we have seen in our state.

    “Our package of legislation is a strong response to recent antisemitism, but it will also protect people of all races.”

    Attorney General Michael Daley said:

    “This package of legislation will protect members of our community in a variety of ways.

    “When we drafted these laws, we were mindful of preserving protest rights and freedom of political expression while also ensuring adequate community protection.

    “In today’s environment, this legislation sends a strong message that hatred will not be tolerated.”

    MIL OSI News –

    February 21, 2025

  • MIL-OSI New Zealand: Speech to Committee for Auckland

    Source: New Zealand Government

    Good afternoon. Can I acknowledge Ngāti Whātua for their warm welcome, Simpson Grierson for hosting us here today, and of course the Committee for Auckland for putting on today’s event.
    I suspect some of you are sitting there wondering what a boy from the Hutt would know about Auckland, our largest city.
    Well, let me reassure you that I know and love this city. I lived here for two years, many of my friends live here, and I am here almost every week.
    Auckland is critical to New Zealand’s future and today I want to talk about how we create that future, with central government working alongside the Auckland Council and Auckland communities.
    Growth 
    Let me start with the economic picture.
    We are in challenging economic times. The government came to office with New Zealand in the midst of a prolonged cost of living crisis, with high inflation, high interest rates, and after years of profligate debt-fuelled government spending.
    Turning that around is not going to be easy and it is not going to happen immediately.
    We have made good progress. Budget 2024 started the repair job. Business and consumer confidence is returning. The OCR was cut by another 50 basis points on Wednesday, meaning mortgage rate relief for households. The latest Federated Farmers Farm Confidence Survey shows confidence surging by 68 points since July 2024 – the largest one-off improvement in sentiment since the question was introduced.
    But there is a lot to do, and we need to be honest with ourselves. We have been slipping for years. 
    Our challenge as a country isn’t just about the last few years, or even the last decade.
    We have low productivity growth, low capital intensity in our firms, low levels of competition in many sectors, challenges in attracting and retaining skills and talent, low uptake of innovation, unaffordable housing and a growing tail of New Zealanders leaving school without basic skills. 
    But stagnation and mediocrity is not our destiny.
    Not if we make the right choices and not if we have courage.
    Going for economic growth means saying “yes” to things when we’ve said “no” in the past.
    It means taking on some tough political debates that we’ve previously shied away from. I’m going to talk about one today.
    It means bold decisions which may look difficult at the time but which in hindsight will be regarded incontrovertibly as the right thing to do.
    Managed decline is only inevitable if we let it be.
    Auckland Growth 
    So today I want to talk to you about Auckland and how important it is to our plans.
    Auckland is New Zealand’s capital city of growth. It is home to one third of New Zealand’s population and contributes nearly 40% to our national GDP. It has higher labour productivity than the rest of New Zealand, and is home to some of New Zealand’s most exciting growth-industries, with 116 of our country’s top 200 tech firms calling Auckland home. 
    We are not going to be successful in growing our economy if we don’t think carefully about how we enable Auckland, as our largest and most important city, to thrive. 
    I have the enormous privilege of being the Minister of Housing, Infrastructure, RMA Reform and now Transport.
    I am determined to help build an Auckland that is a world-class, international city.
    I make no apologies for being an urbanist. Well-functioning urban environments with abundant housing, transport that gets people where they need to go quickly and efficiently, and functional infrastructure, will do more to create a brighter future for Kiwis than just about anything else government can do. 
    Next year is shaping up as an exciting one. The first trains will run on the City Rail Link and the NZ International Convention Centre will finally open its doors.
    The government is investing heavily into transport in Auckland, through new Roads of National Significance, new busways, and commuter rail.
    These investments build on the significant progress made in recent years, particularly by National-led governments – think of Waterview, the Victoria Park Tunnel, and the starting of the City Rail Link.
    A couple of weeks ago it was my pleasure to mark the start of the extension of the Auckland commuter network to Pukekohe, with the completion of the electrification of the line from Papakura to Pukekohe.
    Later this year the Third Main line rail project will conclude, helping ease congestion and enabling faster train journeys. 
    The growth of the Auckland commuter rail network since the early 2000s has been remarkable and the government is keen to encourage that growth.
    Because the reality is that congestion is choking Auckland.
    The average Auckland commuter spends over 5 days in traffic each year. In fact, in 2024 the Auckland metro area had the highest congestion levels in Oceania. This means Auckland is less productive, less accessible, and less liveable that it should be. 
    Congestion stifles economic growth in Auckland, with studies showing that it costs between $900 million to $1.3 billion per year.
    Congestion is essentially a tax on time, productivity, and growth. And like most taxes, I’m keen to reduce it.
    The government will be progressing legislation this year to allow the introduction of Time of Use pricing on our roads.
    We will send that Bill off to a select committee before the end of March and the public will be able to have their say on it.
    There has been study after study into time of use pricing in New Zealand. It’s time to get on with it.
    The framework we have agreed to will enable local councils to propose time of use schemes on their networks.
    All schemes will be focused on increasing productivity and improving the efficiency of traffic flow in cities. Local councils will propose schemes in their region, with NZTA leading the design of the schemes in partnership with councils to provide strong oversight and to ensure motorists benefit from these schemes. 
    All schemes will require approval from the Government.
    Any money collected through time of use charging will be required to be invested back into transport infrastructure that benefits Kiwis and businesses living and working in the region where the money was raised. Councils will not be able to spend this money on other priorities.
    The Government will prioritise working with Auckland Council on designing a Time of Use pricing scheme that increases productivity and reduces congestion.
    Modelling has shown that successful congestion charging could reduce congestion by up to 8 to 12 percent at peak times, improving travel times and efficiency significantly.
    Auckland Housing 
    That brings me to housing. 
    One of the things I’ve been trying to emphasise since I became a Minister is that housing has a critical role to play in addressing our economic woes.
    There is now a mountain of economic evidence that cities are unparalleled engines of productivity, and the evidence shows bigger is better.
    New Zealand can raise our productivity simply by allowing our towns and cities to grow up and out. We need bigger cities and, to facilitate that, we need more houses. As our biggest city, Auckland has to be a leader in this mission.
    As Housing Minister I am focused on getting the fundamentals of the housing market sorted. 
    The Government’s Going for Housing Growth agenda involves freeing up land for development and removing unnecessary planning barriers, improving infrastructure funding and financing, and providing incentives for communities and councils to support growth.
    Report after report and inquiry after inquiry has found that our planning system, particularly restrictions on the supply of urban land, are at the heart of our housing affordability challenge.
    We are not a small country by land mass, but our planning system has made it difficult for our cities to grow. As a result, we have excessively high land prices driven by market expectations of an ongoing shortage of developable urban land to meet demand. 
    Last year Cabinet agreed to a number of specific actions it would take to free up land for development, which we’ve called Pillar One of our Going for Housing Growth Plan.
    These include new housing growth targets for the country’s largest councils, new rules to make it easier for cities to expand outwards at the urban fringe, such as the abolishment of the rural-urban boundary in Auckland, a strengthening of the intensification provisions in the National Policy Statement on Urban Development including requiring more mixed-use zoning, the abolishment of minimum floor areas and balcony requirements, and making the MDRS optional for councils. 
    These changes build on the existing Auckland Unitary Plan, which evidence shows has made a real difference in Auckland. 
    It also builds on the National Policy Statement on Urban Development brought in by the last government, which we support.
    I am focusing on the fundamentals because ultimately that is what drives price.
    Very soon I will announce Cabinet decisions around better infrastructure funding and financing tools, so growth can be properly funded.
    And I’ll also soon announce decisions on how we will replace the Resource Management Act, the giant millstone on the neck of the New Zealand economy. 
    City Rail Link 
    Speaking of infrastructure, let’s talk about the City Rail Link.
    Without a doubt, the most transformative and ambitious project in recent memory in Auckland is the City Rail Link. 
    Under the feet of Auckland for the better part of a decade has been the most ambitious, and one of the most expensive, projects in the city’s history. Thousands of workers building 3.5 kms of tunnel to bring Auckland’s transportation system into the 21st century.
    When I was made Transport Minister by the Prime Minister earlier this year, I said to my team that I wanted my first visit to be to see City Rail Link. To me, this project epitomises the opportunities in New Zealand’s transport future.    
    Once open next year, CRL will double Auckland’s rail capacity and reduce congestion across the city, enabling Aucklanders to get to where they want to go faster.
    This will be huge for the city. The privilege of not having to worry about missing a train because another one is only minutes away is something, up until now, Aucklanders have only been able to experience in cities like London or Tokyo. But now it’s almost Auckland’s turn.
    I’ve been down to the new stations. Aucklanders are going to be blown away. My prediction is that people will say what they always do once a big new project eventually finishes: why didn’t we do this decades ago?
    It is critical for the city’s future that we take advantage of CRL and ensure that the maximum benefits are felt by Aucklanders. That’s why today I am pleased to announce a number of steps the Government is taking to fully harness the true benefits of City Rail Link.
    Level Crossings
    The first step is removing level crossings. 
    CRL will only achieve its true potential capacity by the removal of level crossings – locations where roads and rail tracks intersect.
    Frankly, every motorist under the sun hates them, me included. They require the direct trading-off between road-user efficiency and rail-user efficiency. 
    Separating our train and roading systems by grade-separating level crossings greatly reduces traffic delays for motorists, while at the same time enables more frequent and reliable trains. It means that, in future, we can run many more trains on the Auckland network, without having to worry about disrupting the road network.
    Crucially, it will also make our railways safer. In the decade between 2013 and 2023, Auckland saw almost 70 crashes – some of these serious, as well as more than 250 pedestrian near-misses and 100 vehicle near misses at level crossings across the city. That’s almost one incident a week. 
    Investment in Auckland’s level crossings delivers a faster, safer, and more reliable transport system. It’s a win, win, win.
    Sorting level crossings in Auckland will take many years and cost a lot – but it is imperative we crack on with the job of doing the most important ones first.
    I am announcing today that, subject to final approval by the NZTA board, the Government will be allocating funding for its share of the cost of accelerating the grade-separation of 7 level crossings in Takāanini and Glen Innes. 
    The work will involve building three new grade-separated road bridges at Manuia Road, Taka Street, and Walters Road; constructing new station access bridges at Glen Innes, Te Mahia and Takāanini Stations, and closing two unsafe crossings at Spartan Road and Manuroa Road.
    Auckland Council has previously indicated that it is willing to fund its share of the cost, so this announcement will provide Aucklanders with confidence that the work will go ahead.
    Removing these level crossings now also enables us to take advantage of already planned network closures and will hopefully avoid the need for disruptions to the rail network in the future to make these much-needed changes.
    We are committed to the most efficient transport system in Auckland for everyone – no matter how you get around. For us, it’s never only about trains, or only about cars, or only about buses, or only about bikes. It must be all of the above – which is exactly why we are prioritising the removal of these level crossings 
    Transit oriented development
    As I’ve said, there are a number of actions being taken across the Auckland Rail network with a focus on transforming connectivity throughout the city. City Rail Link is just one part of it.
    This ambitious programme of work will open up job opportunities, new investment opportunities, and new places to live and work.
    It should also, in theory, result in a significant increase in development density in and around Auckland’s railway stations, especially those benefiting from City Rail Link.
    We have to ask ourselves: are we doing all we can to fully take advantage of this multi-billion-dollar transport investment? 
    I believe that in order to properly unlock economic growth in Auckland, we must embrace the concept of transit-oriented development adopted by the world’s best and most liveable cities.
    This approach promotes compact, mixed-use, pedestrian friendly cities, with development clustered around, and integrated with, mass transit. The idea is to have as many jobs, houses, services and amenities as possible around public transport stations. 
    This is not an untested theory: transit-oriented development has been adopted across the world in cities like Stockholm, Copenhagen, Hong Kong, Tokyo, and Singapore.
    Cities that embrace this approach consistently outperform those that don’t across multiple metrics: they experience increases in productivity, lower unemployment, higher population growth, increased availability of homes, and more stable rents.
    A floor filled with smart people working next to each other, in a building filled with floors of smart people working next to each other, unsurprisingly, enables greater economic opportunities for productive growth. Proximity encourages collaboration and innovation.
    Transit-oriented development creates exactly these kinds of possible agglomeration effects – for example, it has been shown that doubling job density increases productivity by 5 – 10%. 
    The evidence speaks for itself. 
    Let’s look at Stockholm, where development has generally followed the city’s main public transport corridors. There, the gross value added per capita grew 41% between 1993 and 2010. In fact, both Stockholm and Copenhagen rank as among the world’s top cities in terms of per capita GDP.  
    Across the ditch in Sydney, they have just opened their brand-new Sydney Metro development, which has been widely recognised for its successful integration of high-density housing and mixed-use developments. This project is expected to contribute around AUD $5 billion annually to the New South Wales economy.
    To answer the question: are we doing all we can to fully take advantage of City Rail Link? The answer is clearly no.
    So, today I am announcing that the Government will be kicking off a work programme to properly take advantage of the opportunities that transit-oriented development could have on Auckland, and what actions we can take in the short-term to better enable development clusters around City Rail Link stations.
    Right now, Auckland Council is only required to zone 6 stories around rapid transit stops. We are going to need to go much, much higher than that around the CRL stations if we truly want to feel the benefits of transit-oriented development.  
    My aspiration is that in 10-20 years’ time, we have 10-20 storey apartment blocks dotting the rail line as far west as Swanson and Ranui. But for right now, we need to look at how to increase development opportunities around the inner core of stations.
    Take Kingsland, for example.
    Once CRL open Kingslanders will have a 20 minute travel time saving to Aotea station from the project. But Kingsland’s population actually declined by 4.7% between 2019 and 2023; and while Auckland averaged 15,375 annual new builds over the last 5 years, Kingsland built just 22.
    Compare that to Paramatta in Sydney. It too benefits by circa 20 minute time savings from the Sydney Metro project and has upzoned from a few stories to more than 60 in some cases.
    Kingsland is still predominantly made up of single story dwelling zones.
    How about if our aim is to make the special character of suburbs be that they are thriving, liveable, affordable communities with access to regular and reliable public transport?
    For many families, the dream of home ownership looks a little different today. Many young families are now choosing to swap the station wagon for the train station, and the corner dairy for the cafe.
    There will always be a place in New Zealand for the quarter-acre section and the large family home. But we have to be honest with ourselves: that place isn’t within a stones-throw of a transformational piece of transport infrastructure with the ability to shuttle tens of thousands of passengers each day. 
    We must allow Kiwis to make the choice that’s best for them. Permitting more development close to train stations and rapid bus routes supports those who want to live nearer to their work and their friends, just like the significant investment the Government is making in new highways and roads support those who want to live in our world-class towns and suburbs. 
    Change is inevitable. My job as a Minister it to make sure that change is shaped by the lives Kiwis want to live and the homes they want to live in.
    Viewshafts 
    One barrier to proper high-density in Auckland, including around City Rail Link stations, is undoubtedly the current settings of the 73 viewshafts that have restricted the height of the city since the early 1970s. 
    In 2016, the Independent Hearing Panel for the Auckland Unitary Plan recommended further work on the viewshafts, including refining them to improve their efficiency and reduce opportunity costs. In the almost-decade since, this work has not been progressed.
    Some of these viewshafts don’t make a lot of sense. The Unitary Plan protects the view from the tolling booths on the North Shore, so that those people sitting in their cars getting ready to pay their toll for the Harbour Bridge have a nice view of Mt Eden. Of course there hasn’t been tolling booths on the North Shore since the mid-1980s. 
    Forty years later, we are still protecting a view that would be considered dangerous-driving to admire. A study done in 2018, looking at this one view shaft – the E10 – showed that its cost was roughly $1.4 billion in lost development opportunities. This is just the impact of one of the 73 viewshafts. 
    It is worth stressing that the cost is almost certainly much greater than $1.4 billion. It only includes costs to the city centre, and about half the land under E10 falls outside the city centre. So add that on.
    It doesn’t look at the positive externalities of intensification, such as agglomeration and other wider economic benefits. So add that on too.
    It doesn’t look at public land, just private. Add that on. 
    And it’s based on 2014 land values.
    And this is just one viewshaft.
    I hope you’ll agree with me that the cost is immense.
    Aucklanders and local mana whenua have always had a special relationship with the Māunga and Volcanic cones that their city is nestled between. It is right that we acknowledge and protect this special relationship. 
    But even just minor tweaks to existing viewshafts could materially lift development opportunities. The 2018 study showed that rotating the E10 viewshaft just 4.5 degrees to the left maintains the view of Mt Eden for a similar amount of time, whilst saving the city 43% of the lost development opportunity cost.
    Today I can tell you that Mayor Brown and I have had discussions on this issue, and he said he is open to a fresh look at Auckland’s viewshaft settings in its Unitary Plan. We agree that the time is right to start the conversation. This is particularly relevant where the viewshafts impact the CBD and major transit corridors.
    We are committed to trying to find a way though – alongside mana whenua – to get the balance right between economic growth, and the special role these Māunga play in the unique identity of Auckland. 
    We are not proposing to remove these viewshafts. Rather, we are recognising that as the city changes, and there will be areas where the viewshafts should change with it.
    The tollgate viewshaft example above proves that it is possible to eat our cake and have it too. We can both preserve views and enable more development. That is the kind of change that a dynamic city requires to be the best for all its people.
    Conclusion
    Auckland has a bright future. 
    You have the country’s premier convention centre opening early next year. 
    You have City Rail Link opening later next year. 
    You have what are essentially new cities being built to your west, and to your south.
    New roads are opening.
    Congestion pricing is on the way.
    And more housing is being built. 
    Whenever I come here, I get a palpable sense of opportunity knocking.
    This city isn’t waiting: it’s getting on with the mission of growth. 
    It is bursting at the seams with opportunities – now, it is the responsibility of all of us to help make it happen. 
    Thank you.

    MIL OSI New Zealand News –

    February 21, 2025

  • MIL-OSI Australia: Rest and remember risks during National Driver Fatigue Week

    Source: New South Wales Ministerial News

    Published: 21 February 2025

    Released by: Minister for Regional Transport and Roads

    The Minns Labor Government is urging all road users to rest and stay off the road while tired after NSW recorded a 47 per cent rise in people losing their lives in fatigue related crashes last year.

    Sadly, 78 people died in fatigue-related crashes on NSW roads in 2024 compared to 53 people in 2023.

    Alongside speeding, drink and drug driving, fatigue is one of the top killers on NSW roads and the vast majority of crashes involving fatigue are happening on regional roads, with 69 of the 78 deaths occurring in regional communities in 2024.

    While heavy vehicles make up only 2 per cent of NSW motor vehicle registrations, heavy vehicle drivers accounted for around 26 per cent of fatigue related deaths on NSW roads last year.

    To help raise awareness of the dangers of driving fatigued, the Minns Labor Government is promoting fatigue safety and the benefits of taking a power nap during National Driver Fatigue Week which runs from February 21-27.

    The awareness and education effort builds on the government’s other suite of road safety initiatives which are aiming to reduce fatigue related crashes and improve road safety overall. These include:

    • Rolling out around $1 billion in lifesaving infrastructure upgrades on regional and metropolitan roads through the Towards Zero Safer Roads Program and the joint federal/ state funded Road Safety Program.
    • Investing $46 million on 2700 kilometres worth of rumble strips to help fight fatigue.
    • Maintaining 673 signposted rest areas and building a new rest area on the Newell Highway north of Narrabri.
    • Upgrading rest areas through the $11.9 million statewide Heavy Vehicle Rest Stop Minor Works program.
    • Promoting 56 volunteer run Driver Reviver rest area sites where motorists travelling during holiday periods can stop for a free tea or coffee.
    • Running high visibility communication campaigns such as the ‘Don’t Trust Your Tired Self’ campaign
    • Launching a trial of average speed cameras for light vehicles in 2025.
    • Upgrading mobile phone detection cameras to detect seatbelt offenders.
    • Doubling roadside enforcement sites used for mobile speed cameras, with an additional 2,700 new sites where a camera can be deployed. (Total enforcement hours remain the same).

    For more information and tips on how to combat fatigue, visit the Power Nap website: https://powernap.org.au.  

    Minister for Regional Transport and Roads Jenny Aitchison said:  

    “Driving on country roads often involves driving for long distances, at higher speeds and sharing the road with heavy vehicles so the fatigue risk is much greater.

    “We need all road users to be aware of the dangers of fatigue and remember if you feel tired while driving or experience any of the early warning signs such as yawning, restlessness or sore eyes, pull over in a safe place, stretch your legs and have a power nap at one of the many rest areas we have available in NSW.

    “Make sure you have a good night’s sleep before getting behind the wheel and avoid driving at times when your body would naturally sleep, like late at night or early morning.”

    MIL OSI News –

    February 21, 2025

  • MIL-Evening Report: Deepfakes can ruin lives and livelihoods – would owning the ‘rights’ to our own faces and voices help?

    Source: The Conversation (Au and NZ) – By Graeme Austin, Chair of Private Law, Te Herenga Waka — Victoria University of Wellington

    Getty Images

    Not that long ago, the term “deepfake” wasn’t in most people’s vocabularies. Now, it is not only commonplace, but is also the focus of intense legal scrutiny around the world.

    Known in legal documents as “digital replicas”, deepfakes are created by artificial intelligence (AI) to simulate the visual and vocal appearance of real people, living or dead.

    Unregulated, they can do a lot of damage, including financial fraud (already a problem in New Zealand), political disinformation, fake news, and the creation and dissemination of AI-generated pornography and child sexual abuse material.

    For professional performers and entertainers, the proliferation and increasing sophistication of deepfake technology could demolish their ability to control and derive income from their images and voices.

    And deepfakes might soon take away jobs: why employ a professional actor when a digital replica will do?

    One possible solution to this involves giving individuals the ability to enforce intellectual property (IP) rights to their own image and voice. The United States is currently debating such a move, and New Zealand lawmakers should be watching closely.

    Owning your own likeness

    Remedies already being discussed in New Zealand include extending prohibitions in the Harmful Digital Communications Act to cover digital replicas that do not depict a victim’s actual body.

    Using (or amending) the Crimes Act, the Fair Trading Act and the Electoral Act would also be helpful.

    At the same time, there will be political pressure to ensure regulation does not stymie investment in AI technologies – a concern raised in a 2024 cabinet paper.

    Legislation introduced to the US Congress last year – the Nurture Originals, Foster Art, and Keep Entertainment Safe Bill – proposes a new federal intellectual property right that individual victims can use against creators and disseminators of deepfakes.

    Known informally as the “No Fakes Bill”, the legislation has bipartisan and industry support, including from leading entertainment worker unions. The US Copyright Office examined the current state of US law and concluded that enforceable rights were “urgently needed”.

    From the New Zealand perspective, the No Fakes Bill contains both helpful ideas and possible pitfalls. As we discuss in a forthcoming paper, its innovations include expanding IP protections to “everyday” individuals – not just celebrities.

    All individuals would have the right to seek damages and injunctions against unlicensed digital replicas, whether they’re in video games, pornographic videos, TikTok posts or remakes of movies and television shows.

    But these protections may prove illusory because the threshold for protection is so high. The digital replica must be “readily identifiable as the voice or visual likeness of an individual”, but it’s not clear how identifiable the individual victim of a deepfake needs to be.

    Well known New Zealand actors such as Anna Paquin and Cliff Curtis would certainly qualify. But would a New Zealand version of the bill protect an everyday person, “readily identifiable” only to family, friends and workmates?

    Can you license a digital replica?

    Under the US bill, the new IP rights can be licensed. The bill does not ban deepfakes altogether, but gives individuals more control over the use of their likenesses. An actor could, for example, license an advertising company to make a digital replica to appear in a television commercial.

    Licences must be in writing and signed, and the permitted uses must be specified. For living individuals, this can last only ten years.

    So far, so good. But New Zealand policy analysts should look carefully at the scope of any licensing provisions. The proposed IP right is “licensable in whole or in part”. Depending on courts’ interpretation of “in whole”, individuals could unknowingly sign away all uses of their images and voice.

    The No Fakes Bill is also silent on the reputational interests of individuals who license others to use their digital replicas.

    Suppose a performing artist licensed their digital replica for use in AI-generated musical performances. They should not, for example, have to put up with being depicted singing a white supremacist anthem, or other unsanctioned uses that would impugn their dignity and standing.

    Protectng parody and satire

    On the other side of the ledger, the No Fakes Bill contains freedom of expression safeguards for good faith commentary, criticism, scholarship, satire and parody.

    The bill also protects internet service providers (ISPs) from liability if they quickly remove “all instances” of infringing material once notified about it.

    This is useful language that might be adopted in any New Zealand legislation. Also, the parody and satire defence would be an advance on New Zealand’s copyright law, which currently contains no equivalent exception.

    But the US bill contains no measures empowering victims to require ISPs to block local subscribers’ access to online locations that peddle in deepfakes. Known as “site-blocking orders”, these injunctions are available in at least 50 countries, including Australia. But New Zealand and the US remain holdouts.

    For individual victims of deepfakes circulating on foreign websites that are accessible in New Zealand, site-blocking orders could offer the only practical relief.

    The No Fakes Bill is by no means a perfect or comprehensive solution to the deepfakes problem. Many different weapons will be needed in the legal and policy armoury – including obligations to disclose when digital replicas are used.

    Even so, creating an IP right could be a useful addition to a suite of measures aimed at reducing the economic, reputational and emotional harms deepfakes can inflict.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Deepfakes can ruin lives and livelihoods – would owning the ‘rights’ to our own faces and voices help? – https://theconversation.com/deepfakes-can-ruin-lives-and-livelihoods-would-owning-the-rights-to-our-own-faces-and-voices-help-249929

    MIL OSI Analysis – EveningReport.nz –

    February 21, 2025

  • MIL-OSI New Zealand: Greenpeace – NZ position at fisheries forum “reckless”

    Source: Greenpeace

    Greenpeace is calling the stance taken by New Zealand at an international fisheries forum “short-sighted and reckless”, saying more ocean protection is needed, not further erosion of existing measures in the name of profit.
    The annual meeting of the inter-governmental body that governs fishing in the South Pacific high seas (SPRFMO) is meeting in Chile this week.
    It’s been revealed that New Zealand is pushing to get Australia’s quota for orange roughy, a deep sea fish with a declining population, while also trying to increase the amount of deep sea coral that can be pulled up by bottom trawling nets.
    Greenpeace oceans campaigner Juan Parada says this puts New Zealand at odds with other SPRFMO members, including Australia and the US, who are backing measures to protect vulnerable marine areas.
    “New Zealand’s stance at SPRFMO once again shows the desperate, short-term drive for profit, pushed by this Luxon-led government, which is siding with its fishing industry mates and promoting their interests over ocean protection.
    “Orange roughy is a slow-growing fish whose populations are under pressure, and just a few months ago, a New Zealand trawler was caught hauling up 37kg of coral in the South Pacific – proving they were fishing in areas of high biodiversity.
    “That incident led to the temporary closure of the area to fishing, but now the New Zealand government is calling for these coral ‘trigger’ limits to be lifted so the fishing industry can keep trawling for longer, even if it means destroying deep sea coral reefs.
    Note:Currently, under SPRFMO rules, if a trawler pulls up more than 15kg of coral in its nets it triggers an automatic temporary suspension of fishing in the area. 

    MIL OSI New Zealand News –

    February 21, 2025

  • MIL-OSI New Zealand: Greenpeace – NZ position at fisheries forum “reckless”

    Source: Greenpeace

    Greenpeace is calling the stance taken by New Zealand at an international fisheries forum “short-sighted and reckless”, saying more ocean protection is needed, not further erosion of existing measures in the name of profit.
    The annual meeting of the inter-governmental body that governs fishing in the South Pacific high seas (SPRFMO) is meeting in Chile this week.
    It’s been revealed that New Zealand is pushing to get Australia’s quota for orange roughy, a deep sea fish with a declining population, while also trying to increase the amount of deep sea coral that can be pulled up by bottom trawling nets.
    Greenpeace oceans campaigner Juan Parada says this puts New Zealand at odds with other SPRFMO members, including Australia and the US, who are backing measures to protect vulnerable marine areas.
    “New Zealand’s stance at SPRFMO once again shows the desperate, short-term drive for profit, pushed by this Luxon-led government, which is siding with its fishing industry mates and promoting their interests over ocean protection.
    “Orange roughy is a slow-growing fish whose populations are under pressure, and just a few months ago, a New Zealand trawler was caught hauling up 37kg of coral in the South Pacific – proving they were fishing in areas of high biodiversity.
    “That incident led to the temporary closure of the area to fishing, but now the New Zealand government is calling for these coral ‘trigger’ limits to be lifted so the fishing industry can keep trawling for longer, even if it means destroying deep sea coral reefs.
    Note:Currently, under SPRFMO rules, if a trawler pulls up more than 15kg of coral in its nets it triggers an automatic temporary suspension of fishing in the area. 

    MIL OSI New Zealand News –

    February 21, 2025

  • MIL-OSI Australia: Two people charged with 77 offences across southern Tasmania

    Source: Tasmania Police

    Two people charged with 77 offences across southern Tasmania

    Friday, 21 February 2025 – 9:48 am.

    Police Taskforce Saturate have charged two people with a combined total of 77 offences across southern Tasmania.  
    Early yesterday, members from Taskforce Saturate and Glenorchy Uniform attended a Glenorchy residence and conducted a search as part of a targeted operation.  
    A 27-year-old Claremont woman and an 18-year-old Glenorchy man were arrested in relation to multiple offences which allegedly occurred around Southern Tasmania during a six-week period in January and February 2025. 
    They have been charged with a combined total of 77 offences related to stealing, drugs, and breaches of bail.  
    Both were detained to appear in the Hobart Magistrates Court today. 
    Police thank members of the public who assisted in the investigations into both offenders.

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: NT Fire and Rescue Chief Officer announced

    Source: Northern Territory Police and Fire Services

    The Northern Territory Fire and Emergency Services (NTFES) is pleased to announce the permanent appointment of Mr Stephen Sewell AFSM as Chief Fire Officer (CFO).

    Following an extensive merit-based selection process, Mr Sewell, who has been acting in the CFO role for the past 12 months, has officially been appointed to the position.

    This appointment brings stability to the NT Fire and Rescue Service (NTFRS) and allows for the continued recruitment of Deputy Fire Officers, which is set to begin this month.

    Before stepping into the role of Chief Fire Officer, Mr Sewell served as the Deputy Chief Fire Officer for Territory Operations. He has been with the NTFRS since 2009 and has held an executive position since 2020.

    In addition to his extensive experience with NTFRS, Mr Sewell has served in various regiments of the Australian Army since 1989 and remains an active member of the Australian Army Reserve.

    He has been recognised for his service with several prestigious awards, including the Australian Fire Service Medal (AFSM), and medals for his deployments, such as the International Force East Timor Medal, the Afghanistan Medal, and the Iraq Medal.

    NTFES Commissioner, Andrew Warton congratulated Mr Sewell on his appointment, acknowledging his significant contributions over the past 16 years.

    “Stephen brings a wealth of strategic and leadership experience to this role, along with an unwavering commitment to protecting the lives, property, and environment of the Northern Territory,” said Commissioner Warton.

    “Over the past 16 years, Stephen has made significant contributions to our operations, firefighting preparedness, training and development, fire safety initiatives, recruitment, and community engagement.”

    In addition to his operational expertise, Mr Sewell holds qualifications in human resource management, public safety, training and assessment, and occupational health and safety.
     

    Quotes attributed to Mr Stephen Sewell AFSM:

    “It is a tremendous honour to be appointed permanently as Chief Fire Officer, and I am committed to ensuring that the NT Fire and Rescue Service continues to serve the community with the highest standards of professionalism, preparedness and safety.”

    “My focus will be on maintaining the safety of our communities, supporting our dedicated firefighters, and further strengthening our operational capabilities to respond to emergencies across the Territory.”

    “The role of Chief Fire Officer is both challenging and rewarding, and I am excited to continue the work of enhancing community resilience while working closely with all stakeholders to ensure a safer Northern Territory.”

    “I want to thank the dedicated men and women of NTFRS for their commitment and service. Together, we will continue to advance the agency’s mission to serve and protect.”

    With the recent formation of the NT Fire and Emergency Services, which merges the NT Fire and Rescue Service, NT Emergency Service, and Bushfires NT into a single agency, Mr Sewell’s leadership will be vital in further enhancing the agency’s ability to respond to emergencies while prioritising community resilience.

    Media contact
    Rickie Abraham

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: Bradford Exchange in Court over alleged misleading representations about subscriptions

    Source: Australian Competition and Consumer Commission

    The ACCC has instituted legal proceedings in the Federal Court against The Bradford Exchange Ltd (Bradford) for allegedly making false or misleading representations in its advertising of collectable coins and ingots in breach of the Australian Consumer Law.

    A global retailer of coins and memorabilia, Bradford allegedly made misleading representations to consumers in over 300 newspaper and magazine advertisements for collectable coins and ingots across Australia.

    It is alleged that, in many cases, Bradford represented that it would send consumers a single advertised item, when in fact Bradford sent consumers multiple items subject to a subscription (in some cases up to 24 items) and charged them for those items.

    Bradford also allegedly represented that, if consumers responded to the relevant advertisements, they would be treated as only agreeing to purchase the single item identified in the advertisement, when this was not the case.

    Subsequent items in these collections were typically far more expensive than the originally advertised item, for example, costing $79.99 after the first item was priced at $29.99.

    The ACCC alleges that Bradford applied direct debits, or invoiced consumers for these subsequent items. Consumers who did not pay an invoice were sent follow up invoices, some of which incurred a ‘reminder charge’. If the invoice remained unpaid, consumers would ultimately be referred to a debt collection agency which charged additional fees.

    “We are alleging Bradford’s actions amounted to a ‘subscription trap’ for consumers who thought they were buying one coin or ingot but were treated as if they had agreed to subscribe to receive an entire series and be charged accordingly,” ACCC Commissioner Liza Carver said.

    Subscription traps occur when businesses mislead consumers into signing up for a subscription by representing that the consumer is only making a one-off purchase, or by making cancellation of a subscription difficult.

    The ACCC action relates to alleged misleading representations between 1 January 2021 and 26 June 2023 in advertisements by Bradford for collectable commemorative coins and ingots in various print newspapers and magazines across Australia such as the Herald Sun, the Courier Mail, Woman’s Day magazine and New Idea magazine.

    The advertisements featured a large image of a single coin or ingot, often with historical or nostalgic themes such as Queen Elizabeth II, World War 1, Phar Lap, and the 1971 Ford Falcon.

    In addition, the ACCC alleges Bradford’s advertisements prominently stated a single price for that item and did not state the total price of all the items in each collection.

    “Businesses must be open and transparent when signing consumers up to subscriptions, including by stating the total price of goods or services being purchased,” Ms Carver said.

    “There have been a large number of complaints about this company from consumers who purchased a single item from Bradford but were then sent and charged for additional items.”

    “We consider Bradford’s actions deprived consumers of the ability to make an informed choice about whether to buy an entire collection of items. As a result, many consumers are likely to have paid for subsequent items they did not want or intend to buy and some are likely to have experienced distress and financial loss when Bradford charged them for items they did not intend to purchase,” Ms Carver said.

    The ACCC is seeking penalties, declarations, injunctions, costs and other orders for Bradford’s alleged contraventions.

    Example of Bradford advertisements:

    Bradford exchange platinum jubilee coin ( PDF 2.71 MB )

    Background

    Bradford is a US-based, retailer of limited-edition memorabilia and collectables including coins and ingots, jewellery, prints, model cars, ornaments and figurines. A significant proportion of Bradford’s revenue comes from the sale of collections. Bradford advertises its products through mainstream newspapers and magazines, as well as on its website and social media accounts.

    The Bradford Exchange Group operates globally across fifteen countries including the US, United Kingdom, New Zealand, and Germany. Bradford has operated in Australia for 34 years.

    Concise Statement

    ACCC v Bradford Exchange – Concise Statement ( PDF 3.75 MB )

    This document contains the ACCC’s initiating court document in relation to this matter. We will not be uploading further documents in the event these initial documents are subsequently amended.

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: Nominations now open for the first Food and Grocery Code Supervisor

    Source: Australian Treasurer

    The Albanese Labor Government is cracking down on bad behaviour by supermarkets to make sure customers and farmers are getting a fair deal at the checkout.

    Today nominations are opening for a newly established position of Food and Grocery Code Supervisor.

    The Food and Grocery Code Supervisor will help implement the new mandatory Food and Grocery Code of Conduct.

    The new code will protect suppliers and improve supermarket behaviour by introducing heavy penalties for breaches of the code, a prohibition against retribution, strengthened dispute resolution mechanisms, and other new obligations on supermarkets.

    The recently legislated code reflects the Albanese Government’s commitment to implementing all recommendations of Dr Craig Emerson’s independent review of the code and forms part of the Government’s broader agenda to crackdown on anti‑competitive behaviour in the sector.

    The Code Supervisor will review dispute resolution processes, identify issues, conduct industry surveys and report on findings.

    The new code will come into force on 1 April 2025, replacing the current voluntary code.

    The Code Supervisor will have appropriate qualifications, knowledge or experience in procedural fairness and Australian industry, and will have senior management, board or leadership experience with a strong track record of stakeholder engagement to achieve outcomes for the sector and broader community.

    Nominations are welcome from experienced individuals to be appointed as the first Food and Grocery Code Supervisor. Expressions of interest will be considered until 7 March 2025 and can be sent to the Food and Grocery Code Secretariat at FGC@treasury.gov.au.

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: $2.5 million Lung Bus to protect thousands of workers against dust diseases

    Source: New South Wales Premiere

    Published: 21 February 2025

    Released by: Minister for Regional Health, Minister for Work Health and Safety

    The Minns Labor Government has renewed its commitment to protect workers from dust diseases by unveiling its new $2.5 million state-of-the -art Lung Health Mobile Clinic which will provide lung health checks to thousands of people across New South Wales.

    The lung bus program provides free lung screening checks to more than 5,000 workers annually in regional NSW.

    These lung health checks can be lifesaving by ensuring early detection and treatment of dust diseases like asbestosis, silicosis and mesothelioma.

    Commencing this month, the icare Lung Bus will travel the length and breadth of the state, including visits to Newcastle, Port Macquarie, Coffs Harbour, Taree, Tuncurry, Spears Point, Tweed Heads, Gosford, Nowra, Shellharbour, Port Kembla, Bathurst, Dubbo, Broken Hill, Wagga Wagga, Griffith and Tamworth.

    The new mobile clinic features several innovations including:

    • Digital chest X-ray technology, providing precise and reliable first instance imaging.
    • Enhanced spirometry (lung function) testing equipment to evaluate breathing capacity and respiratory performance.
    • Digital monitoring systems to streamline diagnostics and care.
    • A backup power supply to ensure uninterrupted operation in remote locations.
    • Greater accessibility and comfort, with larger clinical space designed to support both staff and clients.

    The brand-new Lung Bus continues the legacy of the state’s original mobile service which served the community for nearly 16 years.

    That Bus travelled more than 700,000km (more than 17 times around the world), screening more than 53,000 people, and visiting over 300 destinations across NSW.

    This is the latest measure to protect workers from dust diseases, including those caused by silica and asbestos.

    The Minns Labor Government led the campaign for the national ban on engineered stone which started last year.

    The NSW Government is funding a team of dedicated silica safety inspectors to ensure businesses are complying with its strengthened laws.

    Since September, our Silica Compliance Team has conducted 140 inspections, with more than 125 improvement notices issued and seven prohibition notices in workplaces.

    The Minns Labor government has pledged $5 million in critical funding for silicosis research and a patient support program for individuals and their families navigating the health risks associated with exposure to silica dust.

    The grant funding, administered collaboratively by icare and the Dust Diseases Board, will be provided over three years to the Asbestos and Dust Diseases Research Institute (ADDRI).

    Workers can also arrange a free lung screening at icare’s Sydney CBD clinic, or with local providers regionally when the lung bus is not in that part of the state. To book a free lung health check, contact icare on 1800 550 027.

    More information on the full list of Lung Bus destinations can be found here:

    https://www.icare.nsw.gov.au/injured-or-ill-people/work-related-dust-disease/services-and-support/lung-screening-service/workers-mobile-clinic-lung-bus-bookings-for-workers

    For more information on lung health checks or to arrange a screening, visit:

    https://www.icare.nsw.gov.au/employers/employer-obligations/lung-screening-service

    Minister for Work Health and Safety Sophie Cotsis said:

    “The new Mobile Clinic underscores the Minns Labor Government’s commitment to removing barriers like cost and location, ensuring workers across NSW have access to the critical support and care they need to safeguard their health.

    “Along with enforcement of the recent ban on engineered stone, the new Lung Bus demonstrates our commitment to improve outcomes for workers exposed to hazardous dust across NSW.”

    Minister for Regional NSW Tara Moriarty said:

    “I welcome the $2.5 million investment into the new icare Lung Bus which will provide thousands of health checks for people living in regional NSW.

    “Our regional communities remain front and centre when it comes to ensuring early detection and treatment of dust diseases like asbestosis, silicosis, and mesothelioma.”

    Icare Group Executive of General Insurance and Care, Britt Coombe said:

    “A lung health check could save your life.

    “Early detection is critical to effective treatment, and we’re here to make sure every worker, no matter where they live, has access to world-class care.”

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: $29 million set aside for Queensland roads and rail crossings

    Source: Australian Ministers 1

    Roads and rail crossings across Queensland will receive important safety upgrades thanks to almost $29 million in new Albanese Government funding. 

    $14.6 million will go towards 50 high-priority improvements to railway level crossings across the state’s regional road network. Projects will increase safety at these critical junctures, with potential works including upgrades to boom gates, flashing lights, signage, sealing and more. 

    The Albanese Government recognises that local governments are crucial to maintaining and upgrading transport infrastructure.

    A further $14.17 million will help fund the following four new projects under the Safer Local Roads and Infrastructure Program (SLRIP):

    • Almost $4.5 million to the Mareeba Shire Council for widening Leadingham Creek Road and upgrading the culvert at Sandy Creek in Dimbulah. 
    • $5 million to theQueensland Department of Transport and Main Roads for a new heavy vehicle rest area on the Kennedy Highway (Cairns–Mareeba) at Koah.
    • Almost $3 million to the Moreton Bay Regional Council for the Caboolture River Road Safety Upgrades in Upper Caboolture & $1.7 million for the O’Mara Road Upgrade at Narangba. 

    The SLRIP is part of the Albanese Government’s commitment to support the delivery of safer roads across Australia. 

    Investment for the level crossings falls under the Government’s Regional Level Crossing Upgrade Fund (RLCUF), which aims to improve railway crossing safety in regional areas and reduce serious and fatal accidents that have a devastating impact on communities.

    Further information on the information on the Safer Local Roads and Infrastructure Program is available here, and Regional Level Crossing Upgrade Fund here.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister, Catherine King:

    “The Albanese Government recognises that local governments are crucial to maintaining and upgrading transport infrastructure.

    “We have increased funding under the Safer Local Roads and Infrastructure Program to make sure we continue to invest in better, safer local roads across Queensland and Australia. 

    “We are committed to delivering the funding local councils need to improve road safety and in a way that reduces the burden on them, allowing more money to be spent on projects and less on administration.”

    Quotes attributable to Assistant Minister for Regional Development and Senator for Queensland, Anthony Chisholm:

    “Councils know their local road networks inside out, that’s why we’re backing four much needed roads projects thanks to the additional $14.17 million.

    “But it’s not just roads, our state’s growing dependence on rail transport for freight is why we’re working with the State Government on improving rail crossing safety across Queensland.

    “The $14.6 million worth of funding will support the delivery of low-cost treatments such as boom gates, signage, flashing lights and rumble strips, which aim to better alert motorists and pedestrians approaching regional rail crossings.”

     

    Funded projects – Regional Level Crossing Upgrade Fund:

    Project / Railway crossing

    Project location 

    Jambin Dakenba Road (ID6025)

    Earlsfield

    105 Callemondah Drive (ID6090)

    Callemondah

    105 Callemondah Drive (ID708)

    Callemondah

    Saville Road level crossing improvement works

    Allenview

    Booroondarra Road

    Middlemount

    Bulliwallah Rd Level Crossing Upgrade Project

    Belyando

    Tolmies Road

    Blackwater

    Tryphinia Road

    Locality – Wallaroo

    Stratford Rd Level Crossing Upgrade Project

    Mt Cooloon

    Mourindilla Road

    Dingo

    Robino Road Crossing Light Installation

    Braemeadows

    Camp Creek Road level crossing upgrade to active controls

    Running Creek

    Sarina upgrade

    Sarina

    Jambin Dakenba Road (ID6554)

    Earlsfield

    BSL Greatheads

    Woongarra

    Alma Street Crossing Light Installation

    Halifax

    BSL Managers House

    Qunaba

    BSL Ashfield

    Ashfield

    BSL Klotzs

    Windermere

    BSL Golcherts

    Woongarra

    BSL Bargara School

    Qunaba

    Yarrawonga Road

    Blackwater

    Innisfree Road

    Emerald

    533 Marian – Eton Road Ch 0.344km

    Marion

    824 OLC Upgrade project site 5

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 6

    Ingham / Halifax / Bemerside

    Wilson St and Kennedy Development Rd intersection

    Winton

    88A Bowen Developmental Road (Bowen-Collinsville) Ch32.6km

    Bowen

    10G Bruce Highway (St Lawrence – Mackay) Ch142.28km

    Mackay

    10G Bruce Highway (St Lawrence – Mackay) Ch 144.307km

    Mackay

    614 OLC Upgrade project – Site 1

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 2

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 3

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 4

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 5

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 6

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 7

    Ingham / Trebonne / Abergowrie

    614 OLC Upgrade project – Site 8

    Ingham / Trebonne / Abergowrie

    824 OLC Upgrade project site 1

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 2

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 3

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 4

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 7

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 8

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 9

    Ingham / Halifax / Bemerside

    824 OLC Upgrade project site 10

    Ingham / Halifax / Bemerside

    Whitsunday Coast Airport access road (Lascelles Avenue)

    Gunyarra

    Alice Street Mitchell

    Mitchell

    Cunningham Street Dalby

    Dalby

    Nicolson Street Dalby

    Dalby

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: Swipe, style, surgery: why dating apps are fuelling cosmetic procedures

    Source: University of South Australia

    21 February 2025

    They’re the modern way to find love according to the 323 million people who use them worldwide, but dating apps are fuelling an obsession with cosmetic surgery that may not have a happy ending.

    A new study by researchers at the University of South Australia has shed light on how dating app female users are far more likely to undergo cosmetic procedures and digitally alter their looks on screen than non-users.

    The emphasis on appearance, particularly with the swipe-based apps, plays a role in influencing 20% of women to change their looks via dermal fillers and anti-wrinkle injections in particular.

    UniSA Bachelor of Psychology (Honours) graduate, and provisional psychologist, Naomi Burkhardt, who led the study published in Computers in Human Behaviour, says that while the increasing popularity of dating apps has reduced the stigma of using them to find love, there is a downside.

    “The visual nature of dating apps, which prioritise photo-based profiles, places significant pressure on users to present themselves in an idealised matter which is not genuine,” Burkhardt says.

    The researchers surveyed 308 Australian women aged 18 to 72 and found that nearly half of them had used a dating app in the past two years and one in five reported undergoing at least one cosmetic procedure.

    Women who used dating apps had significantly more positive attitudes towards cosmetic surgery compared to non-users and those who altered their appearances digitally were also more likely to consider cosmetic procedures.

    Apart from the pressures to enhance physical appearance, dating apps could also be partly responsible for an increase in overall body dissatisfaction, eating disorders, anxiety and poor self-esteem among women.

    Earlier studies have investigated links between social media use in general and an increased acceptance of cosmetic surgery, but there is little data looking at dating apps specifically.

    UniSA co-author Lauren Conboy suggests several interventions to address the psychological impacts of dating apps, including incorporating features that promote authenticity.

    “Introducing more personality-based matching algorithms could also be considered to reduce the emphasis on physical looks, and apps could offer built-in body image interventions such as self-compassion exercises to mitigate the pressures to alter one’s appearance.”

    Online dating has become increasingly popular in recent years and the trend is expected to continue, with dating website eHarmony predicting that by 2040, more than 70% of relationships will begin online.

    UniSA co-author Dr John Mingoia, an online lecturer in psychology, says that dating apps have the potential to create healthier environments, where users can connect without feeling the need to confirm to unrealistic beauty standards.

    “Hopefully this research can guide future studies to develop interventions to improve the authenticity of dating app use as well as support practitioners to better identify the motivations for women wanting to change their appearance,” Dr Mingoia says.

    Notes for editors

    “Swipe, Style, Surgery: Exploring Dating App Use, Self-Presentation Style, and Acceptance of Cosmetic Surgery” is authored by University of South Australia researchers Naomi Burkhardt, Dr John Mingoia and Lauren Conboy. DOI: 10.1016/j.chb.2025.108568

    …………………………………………………………………………………………………………………………

    Media contact: Candy Gibson M: +61 434 605 142 E: candy.gibson@unisa.edu.au

    Other articles you may be interested in

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: 46-2025: Engagement on changes to biosecurity and imported foods regulatory charges

    Source: Australia Government Statements – Agriculture

    ​21 February 2025

    Who does this notice affect?

    Stakeholders including importers, customs brokers, freight forwarders and biosecurity industry participants (approved arrangement and compliance agreement holders) vessel masters and shipping agents.

    Changes to regulatory charging in 2025-26

    The department reviews fees and charges annually, to ensure they continue to align with the cost to deliver biosecurity and imported food regulatory activity. Through the 2024-…

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Australia: Man charged with allegedly causing grievous bodily harm to baby

    Source: Tasmania Police

    Man charged with allegedly causing grievous bodily harm to baby

    Friday, 21 February 2025 – 8:59 am.

    Police have charged a Claremont man with allegedly causing grievous bodily harm to a baby. 
    Police were contacted by the Royal Hobart Hospital yesterday (Thursday 20 February) in relation to a baby who had presented to hospital the night before with significant head injuries. 
    Glenorchy CIB is investigating, and a residence in Claremont has been declared a crime scene.   
    A 24-year-old man from Claremont, who is known to the baby, has been charged with causing grievous bodily harm. 
    He has been detained to appear before the Hobart Magistrates Court at 10am today. 
    The baby remains in hospital in a serious condition.  

    MIL OSI News –

    February 21, 2025

  • MIL-OSI Security: Halloween getaway driver convicted

    Source: Office of United States Attorneys

    VICTORIA, Texas – A federal jury sitting in Victoria has returned a guilty verdict against a 27-year-old Houston man for armed robbery and being a felon in possession of a firearm, announced U.S. Attorney Nicholas J. Ganjei.

    The jury deliberated for less than two hours before convicting Jordan Javon Ashton following a three-day trial.

    The robbery took place at the Morelos Supermercardos in Victoria Oct. 31, 2023, and involved a stolen vehicle with stolen plates and a stolen gun.

    On that Halloween evening, Latrayveon McNeal and Jerrell Potts – wearing masks and brandishing firearms – entered the supermarket and approached the Barri money services counter. They pointed weapons and yelled at the cashier, store employees and customers. Fearing for their lives, the employees complied with demands and provided U.S. currency and a large amount of cashed checks.   

    McNeal and Potts fled in a stolen white truck and met up with Ashton who was armed and waiting for them a few blocks away from the store. Ashton then drove the robbers from the scene leaving the white truck in the middle of the road with the motor still running.

    The jury saw numerous exhibits to include several photographs and surveillance video from the supermarket, the weapons used in the crime and heard excerpts of 911 calls made on that day.

    They also heard that Ashton had previously been convicted of a felony and was on parole during the commission of this crime.

    The defense attempted to convince the jury that he withdrew from the conspiracy. They did not believe those claims and found Ashton guilty as charged.

    McNeal, 26, and Potts, 25, both of Houston, previously pleaded guilty for their roles in the crime. Potts received 87 months in federal prison, while McNeal is pending sentencing.

    U.S. District Judge David S. Morales presided over trial and set sentencing for May 29. At that time, Ashton faces up to 20 and 15 years for the robbery and the firearms charges, respectively, as well as a possible $250,000 maximum fine.

    He will remain in custody pending that hearing.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives conducted the investigation with the assistance of Victoria Police Department, Victoria County Sheriff’s Office and Victoria County District Attorney’s Office. Assistant U.S. Attorney Patti Hubert Booth is prosecuting the case.

    MIL Security OSI –

    February 21, 2025

  • MIL-OSI Economics: Media release: Australian gas industry’s $105 billion boost to the economy – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media release: Australian gas industry’s $105 billion boost to the economy – Australian Energy Producers

    New economic analysis by KPMG reaffirms the critical role of the Australian gas industry in powering the national economy, contributing $105 billion annually and supporting 215,000 jobs.

    The ‘Economic Contribution of the Gas Industry’ report, commissioned by Australian Energy Producers, provides a snapshot of the gas industry’s economic contribution using the latest Australian Bureau of Statistics data.

    The analysis shows the Australian gas industry is the most productive sector in Australia, delivering $2.8 million in value-add to the economy per full time equivalent (FTE) worker. It also found the sector contributes $85 billion directly to the economy annually, which represents 3.7 per cent of Australia’s Gross Domestic Product (GDP).

    Australian Energy Producers Chief Executive Samantha McCulloch said the analysis underscored the importance of a strong Australian gas industry for a strong economy.

    “As well as having a critical role in Australia’s energy mix, natural gas is powering the Australian economy through high levels of employment and productivity, spending billions with Australian businesses, and delivering significant state and federal government revenue through taxes and royalties,” Ms McCulloch said.

    In addition to the estimated $17.1 billion paid in taxes and royalties to governments in 2023-‑24, the gas industry contributed $105 billion to Australia’s GDP and supported 215,000 ongoing jobs across the economy in 2021-22.

    The analysis also modelled the flow-on economic returns from additional private sector investment in gas projects, finding that a 5 per cent increase in Australia’s gas production would boost the Australian economy by $10.5 billion and add 1,150 jobs.

    “Supporting private sector investment in new gas projects is not only essential for our energy security, it also delivers significant economic benefits through the economy and a further uplift in Australia’s lagging productivity.

    “With Australia facing gas shortfalls as soon as 2027 on the east coast, removing barriers to gas supply and encouraging investment in new gas projects should be a national priority,” Ms McCulloch said.

    The analysis also found that the industry purchased $33 billion in goods and services from Australian businesses and paid $6 billion in employee salaries.

    Read the KPMG report at energyproducers.au/economiccontribution

    Media Contact: 0434 631 511

    MIL OSI Economics –

    February 21, 2025

  • MIL-OSI USA: News 02/20/2025 Blackburn, Cortez Masto Introduce Bill to Protect Taxpayers from Penalties Caused by IRS Delays

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.) and Catherine Cortez Masto (D-Nev.) introduced the Tax Administration Simplification Act to provide straightforward, taxpayer-focused improvements to streamline tax filing and payment for individuals and small businesses:
    “Taxpayers shouldn’t be penalized when the IRS is delayed in processing their tax returns even though they submitted them on time,” said Senator Blackburn. “Our Tax Administration Simplification Act would shield taxpayers from unfair penalties, streamline tax filing, and provide more flexibility for small businesses.”
    “Small businesses in Nevada are busy enough as it is without having to worry about unfair IRS penalties and burdensome red tape,” said Senator Cortez Masto. “This bipartisan legislation would save time for the hard-working small business owners that are growing our economy and creating jobs in Nevada.”
    TAX ADMINISTRATION SIMPLIFICATION ACT
    The Tax Administration Simplification Act aims to reduce filing burdens and make tax compliance more intuitive by:
    Protecting taxpayers from penalties due to Internal Revenue Service (IRS) delays in electronic filing – Under current law, even if taxpayers submit documents on the due date, they may be considered late unless submitted physically. The bill would extend the existing “mailbox rule” to electronically submitted documents, ensuring they are considered timely based on the date submitted, regardless of potential IRS processing delays. The correction would protect taxpayers from penalties and potential audits stemming from processing lags that are beyond their control.
    Simplifying S-Corp elections for small businesses – Many small business owners miss out on the tax benefits of “S-Corp” status because the current election deadline precedes the deadline for filing their first income tax return. The bill would allow business owners to make an S-Corp election on their first timely filed tax return, providing greater flexibility and reducing unnecessary penalties.
    Standardizing estimated tax deadlines – The bill would also address the confusing, irregular schedule for estimated tax payments, which currently requires payments at inconsistent intervals throughout the year. By moving to evenly spaced quarterly deadlines, the bill would simplify planning and help taxpayers more easily manage and project their income for accurate tax reporting.
    Click here for bill text.

    MIL OSI USA News –

    February 21, 2025

  • MIL-OSI United Kingdom: UK Government kickstarts work with Scottish Government to boost broadband in rural Scotland, powering Prime Minister’s Plan for Change

    Source: United Kingdom – Executive Government & Departments

    Around 11,000 Scottish homes and businesses to gain access to lightning-fast broadband.

    • First Project Gigabit contract signed to bring fastest broadband networks on the market to rural Scotland 

    • Around 11,000 homes and businesses in the Scottish Borders and East Lothian will be the first to benefit from the Scotland-wide rollout, with further contracts planned for other parts of Scotland this year

    • Supports UK Government plans to raise living standards and grow the economy across the country, including in isolated rural areas, as part of the Plan for Change

    Around 11,000 Scottish homes and businesses will gain access to lightning-fast broadband, as joint efforts by the UK and Scottish governments to supercharge internet access in rural areas across the nation get underway and power the UK Government’s Plan for Change.  

    Rural areas in the Scottish Borders and East Lothian will benefit from gigabit-capable internet upgrades, allowing residents to fulfil day-to-day tasks, from rapid access to health advice through remote hospital consultations to interviewing for jobs and working more flexibly.    

    The upgrades will benefit some of the most remote areas of Scotland and the UK, including Athelstaneford and Innerwick in East Lothian and St Abbs, Broughton and Ettrickbridge in the Scottish Borders.  

    These areas will be among the first in Scotland to benefit from a £26 million contract awarded under Project Gigabit – the UK Government-funded rollout to areas unlikely to receive upgrades through commercial plans due to their challenging location. The contract was awarded to independent Scottish provider GoFibre by the Scottish Government.  

    UK Government Minister for Telecoms and Data Chris Bryant said:

    As technological advancements race ahead and revolutionise our day-to-day lives, we cannot afford to leave anyone behind.

    It is fantastic to see this UK Government-funded gigabit investment being delivered in Scotland for the first time, not only bringing thousands of people the fastest broadband networks on the market and levelling the playing field but also helping us realise our mission to boost economic growth and improve living standards across the whole country, under the PM’s Plan for Change.

    Scottish Government Business Minister Richard Lochhead said:

    Reliable internet connectivity is a vital part of everyday life – allowing people to work flexibly, engage in education and stay connected with loved ones.

    The Scottish Government has successfully implemented digital infrastructure programmes across Scotland to increase broadband speeds and help grow the economy.

    Expanding upon the achievements of the Digital Scotland Superfast Broadband and Reaching 100% programmes, we will deliver Project Gigabit in Scotland to provide resilient connections that meet the needs of people and businesses now and into the future.

    One of Scotland’s leading amateur rugby clubs, Melrose Rugby Club, based in the Scottish Borders, has previously been connected to full fibre network by provider GoFibre.  

    Having reliable and fast connection meant the club could stream across the world their annual tournament, the Melrose Sevens. The event, which is held every April in Melrose, is the oldest rugby sevens competition in the world and is watched by tens of thousands of fans across the globe, with teams coming from as far afield as Japan, Hong Kong, Uruguay and South Africa. 

    Malcolm Changleng, Melrose Rugby Club Director, said:

    Getting full fibre connection has been a game changer for our club.

    As well as the 10,000 fans attending the event on the day of the tournament, we got about 60,000 people watching games on YouTube and other online platforms, which is why it’s so important to have good WiFi.

    It’s not just rugby fans watching, but people that have left the Borders to go all over the world. Lots of families from the Borders connect back to the area through the Melrose Rugby Sevens, and we’re proud that we allow people to get a little taste of the Borders on an annual basis.

    This weekend, rugby fans in Melrose will be able to support their national team in the Six Nations, with the club streaming Scotland taking on England at Twickenham on Saturday.  

    Local restaurant, The Hoebridge, is set to grow as a business thanks to the programme – contributing to plans to kickstart economic growth. 

    Kyle Tidd, Co-Owner of The Hoebridge said: 

    This investment in faster broadband would improve our operations. It would enable us to streamline our ordering, payment and online booking systems, enhancing efficiency and customer satisfaction.

    Now the £26 million contract is signed, detailed planning and surveying work will begin immediately with the first connections expected in the Autumn.  

    Further contracts to be signed this year will see faster broadband delivered to tens of thousands more premises across Scotland, including Aberdeenshire and the Morayshire Coast, Fife, Perth and Kinross, Orkney and Shetland.    

    For households, gigabit-capable broadband delivers faster speeds and fewer dropouts, providing a gateway to remote working and online education. Unlike traditional copper-based networks, gigabit connections won’t slow down at peak times, meaning no more battling for bandwidth with neighbours. Gigabit networks can easily handle over a hundred devices all at once with no buffering, meaning the whole family can seamlessly surf, stream and download at the same time.       

    Project Gigabit will support the UK Government’s plans to kickstart economic growth, creating and supporting thousands of high-paid, high-skilled jobs, empowering industries of all kinds to innovate and increasing productivity by taking up digital technology.    

    It will also ensure people can access vital services they need now and, in the future, from giving patients improved access to healthcare through virtual appointments and remote health monitoring to helping pensioners combat loneliness by catching up with loved ones over higher quality video calls.    

    Scotland Office Minister, Kirsty McNeill, said: 

    This landmark contract marks a crucial step forward in our mission to end digital inequality across Scotland. By bringing the fastest possible broadband to our rural communities, we’re not just laying cables – we’re opening up new opportunities for local businesses, improving access to education and healthcare. The UK Government, through our Plan for Change, is working to ensure Scotland’s rural communities can benefit from the digital economy and economic growth is seen across the country.

    Neil Conaghan, CEO of GoFibre, said:

    As a Scottish company, born in the Borders, GoFibre is proud to be named as the delivery partner for the first Project Gigabit contract in Scotland, bringing transformative full fibre connectivity to thousands more homes and businesses across the region. This contract award marks a step-change in our ambition and footprint as a major Scottish telecommunications company.

    We have a sterling track record of connecting communities across Scotland to our ultra-fast broadband network. Delivering this project will build on our successful delivery of Project Gigabit contracts in North Northumberland and Teesdale where we are delivering much-needed broadband in rural areas, ahead of schedule. We will bring all that expertise and GoFibre experience to this essential project for people in the Borders and East Lothian.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

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    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

    February 21, 2025

  • MIL-OSI: Altair Announces Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TROY, Mich., Feb. 20, 2025 (GLOBE NEWSWIRE) — Altair (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the fourth quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    • Software revenue was $179.4 million compared to $155.9 million for the fourth quarter of 2023, an increase of 15.0% in reported currency and 16.5% in constant currency
    • Total revenue was $192.6 million compared to $171.5 million for the fourth quarter of 2023, an increase of 12.3% in reported currency and 13.8% in constant currency
    • Net income was $1.0 million compared to $19.7 million for the fourth quarter of 2023, a decrease in earnings of $18.7 million. Net income per share, diluted was $0.01 based on 89.3 million diluted weighted average common shares outstanding, compared to net income per share, diluted of $0.22 for the fourth quarter of 2023, based on 89.0 million diluted weighted average common shares outstanding. Net income margin was 0.5% compared to net income margin of 11.5% for the fourth quarter of 2023
    • Non-GAAP net income was $47.4 million, compared to non-GAAP net income of $41.1 million for the fourth quarter of 2023, an increase of $6.3 million. Non-GAAP net income per share, diluted was $0.52 based on 92.6 million non-GAAP diluted common shares outstanding, compared to non-GAAP net income per share, diluted of $0.47 for the fourth quarter of 2023, based on 89.0 million non-GAAP diluted common shares outstanding
    • Adjusted EBITDA was $61.0 million compared to $53.6 million for the fourth quarter of 2023, an increase of 13.9%. Adjusted EBITDA margin was 31.7% compared to 31.2% for the fourth quarter of 2023
    • Cash provided by operating activities was $37.5 million, compared to $21.7 million for the fourth quarter of 2023
    • Free cash flow was $33.2 million, compared to $19.3 million for the fourth quarter of 2023.

    Full Year 2024 Financial Highlights

    • Software revenue was $611.9 million compared to $550.0 million for the full year of 2023, an increase of 11.3% in reported currency and 12.5% in constant currency
    • Total revenue was $665.8 million compared to $612.7 million for the full year of 2023, an increase of 8.7% in reported currency and 9.8% in constant currency
    • Net income was $14.2 million compared to a net loss of $(8.9) million for the full year of 2023, an improvement in earnings of $23.1 million. Net income per share, diluted was $0.16 based on 88.6 million diluted weighted average common shares outstanding, compared to net loss per share, diluted of $(0.11) for the full year of 2023, based on 80.6 million diluted weighted average common shares outstanding. Net income margin was 2.1% compared to net loss margin of -1.5% for the full year of 2023
    • Non-GAAP net income was $119.6 million, compared to non-GAAP net income of $98.8 million for the full year of 2023, an increase of $20.8 million. Non-GAAP net income per share, diluted was $1.35 based on 91.8 million non-GAAP diluted common shares outstanding, compared to non-GAAP net income per share, diluted of $1.17 for the full year of 2023, based on 84.4 million non-GAAP diluted common shares outstanding
    • Adjusted EBITDA was $149.9 million compared to $129.1 million for the full year of 2023, an increase of 16.1%, Adjusted EBITDA margin was 22.5% compared to 21.1% for the full year of 2023
    • Cash provided by operating activities was $154.1 million, compared to $127.3 million for the full year of 2023
    • Free cash flow was $140.0 million, compared to $117.1 million for the full year of 2023.

    Pending Transaction with Siemens and Conference Call Information

    On January 22, 2025, Altair’s stockholders approved the previously announced merger agreement providing for the acquisition of Altair by Siemens Industry Software Inc. (“Siemens”). Completion of the pending transaction remains subject to certain customary closing conditions. Altair now anticipates that this transaction may close in the first half of 2025. In light of the pending transaction with Siemens, Altair is suspending quarterly financial results conference calls and its quarterly and annual guidance.

    Non-GAAP Financial Measures

    This press release contains the following non-GAAP financial measures: Non-GAAP Net Income, Non-GAAP Net Income Per Share, Billings, Adjusted EBITDA, Free Cash Flow, Non-GAAP Gross Profit and Non-GAAP Operating Expense.

    Altair believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. The Company’s management uses these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis, for purposes of determining executive and senior management incentive compensation and for budgeting and planning purposes. The Company also believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other software companies, many of which present similar non-GAAP financial measures to investors.

    Non-GAAP net income excludes stock-based compensation, amortization of intangible assets related to acquisitions, asset impairment charges, non-cash interest expense, other special items as identified by management and described elsewhere in this press release, and the impact of non-GAAP tax rate to income tax expense, which approximates our tax rate excluding discrete items and other specific events that can fluctuate from period to period.

    Non-GAAP diluted common shares is calculated using the treasury stock method to calculate the effect of dilutive securities, stock options, restricted stock units and employee stock purchase plan shares and using the if-converted method to calculate the effect of convertible instruments. This is the same methodology that is used when calculating GAAP diluted shares. However, the determination of whether the shares are dilutive or antidilutive is made independently on a GAAP and non-GAAP net income (loss) basis and therefore the number of diluted shares outstanding for GAAP and non-GAAP may be different.

    Billings consists of total revenue plus the change in deferred revenue, excluding deferred revenue from acquisitions.

    Adjusted EBITDA represents net income adjusted for income tax expense, interest expense, interest income and other, depreciation and amortization, stock-based compensation expense, asset impairment charges and other special items as identified by management and described elsewhere in this press release.

    Free cash flow consists of cash flow from operations less capital expenditures.

    Non-GAAP gross profit represents gross profit adjusted for stock-based compensation expense and other special items as identified by management and described elsewhere in this press release.

    Non-GAAP operating expense represents operating expense excluding stock-based compensation expense, amortization, asset impairment charges and other special items as identified by management and described elsewhere in this press release.

    Company management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Altair urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company’s business.

    Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables at the end of this release.

    About Altair

    Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing, data analytics and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit https://www.altair.com.

    Forward-Looking Statements

    This communication contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements regarding the proposed transaction, including the expected timing and closing of the proposed transaction; Altair’s ability to consummate the proposed transaction; the expected benefits of the proposed transaction and other considerations taken into account by the Altair Board of Directors in approving the proposed transaction; the amounts to be received by stockholders and expectations for Altair prior to and following the closing of the proposed transaction, may be deemed to be forward-looking statements. All  such forward-looking statements are intended to provide management’s current expectations for the future of Altair based on current expectations and assumptions relating to Altair’s business, the economy and other future conditions. Forward-looking statements generally can be identified through the use of words such as “believes,” “anticipates,” “may,” “should,” “will,” “plans,” “projects,” “expects,” “expectations,” “estimates,” “forecasts,” “predicts,” “targets,” “prospects,” “strategy,” “signs,” and other words of similar meaning in connection with the discussion of future performance, plans, actions or events. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. Such risks and uncertainties include, among others: (i) the timing to consummate the pending merger transaction with Siemens Industry Software Inc. (the “Merger”), (ii) the risk that a condition of closing of the pending Merger transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur, (iii) the risk that a regulatory approval that may be required for the pending Merger transaction is not obtained or is obtained subject to conditions that are not anticipated, (iv) the diversion of management time on transaction-related issues, (v) risks related to disruption of management time from ongoing business operations due to the pending Merger transaction, (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of Altair, (vii) the risk that the pending Merger transaction and its announcement could have an adverse effect on the ability of Altair to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers, (viii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement, dated October 30, 2024, with Siemens Industry Software Inc. (the “Merger Agreement”), (ix) business uncertainties and contractual restrictions on our operations while the proposed Merger transaction is pending, (x) unexpected costs, charges or expenses resulting from the pending Merger transaction, (xi) potential litigation relating to the pending Merger transaction that could be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, (xii) worldwide economic or political changes that affect the markets that Altair’s businesses serve which could have an effect on demand for Altair’s products and impact Altair’s profitability, and (xiii) disruptions in the global credit and financial markets, including diminished liquidity and credit availability, changes in international trade agreements, including tariffs and trade restrictions, cyber-security vulnerabilities, foreign currency volatility, swings in consumer confidence and spending, raw material pricing and supply issues, retention of key employees, increases in fuel prices, and outcomes of legal proceedings, claims and investigations. Accordingly, actual results may differ materially from those contemplated by these forward-looking statements. Investors, therefore, are cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Altair’s filings with the SEC, including the risks and uncertainties identified in Part I, Item 1A – Risk Factors of Altair’s Annual Report on Form 10-K for the year ended December 31, 2024 and in Altair’s other filings with the SEC. The list of factors is not intended to be exhaustive. These forward-looking statements speak only as of the date of this communication, and Altair does not assume any obligation to update or revise any forward-looking statement made in this communication or that may from time to time be made by or on behalf of Altair.

    Media Relations
    Altair
    Jennifer Ristic
    216-849-3109
    jristic@altair.com

    Investor Relations
    Altair
    Stephen Palmtag
    669-328-9111
    spalmtag@altair.com

    ALTAIR ENGINEERING INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (Unaudited)
         
      December 31,  
    (in thousands) 2024     2023  
    ASSETS          
    CURRENT ASSETS          
    Cash and cash equivalents $ 561,898     $ 467,459  
    Accounts receivable, net   173,509       190,461  
    Income tax receivable   21,513       16,650  
    Prepaid expenses and other current assets   28,058       26,053  
    Total current assets   784,978       700,623  
    Property and equipment, net   41,008       39,803  
    Operating lease right of use assets   31,117       30,759  
    Goodwill   462,459       458,125  
    Other intangible assets, net   72,937       83,550  
    Deferred tax assets   8,770       9,955  
    Other long-term assets   44,378       40,678  
    TOTAL ASSETS $ 1,445,647     $ 1,363,493  
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    CURRENT LIABILITIES          
    Accounts payable $ 7,316     $ 8,995  
    Accrued compensation and benefits   50,328       45,081  
    Current portion of operating lease liabilities   7,876       8,825  
    Other accrued expenses and current liabilities   56,058       48,398  
    Deferred revenue   139,085       131,356  
    Current portion of convertible senior notes, net   227,106       81,455  
    Total current liabilities   487,769       324,110  
    Convertible senior notes, net   —       225,929  
    Operating lease liabilities, net of current portion   24,141       22,625  
    Deferred revenue, non-current   28,531       32,347  
    Other long-term liabilities   48,017       47,151  
    TOTAL LIABILITIES   588,458       652,162  
    Commitments and contingencies          
    STOCKHOLDERS’ EQUITY          
    Preferred stock ($0.0001 par value), authorized 45,000 shares, none issued or outstanding   —       —  
    Common stock ($0.0001 par value)          
    Class A common stock, authorized 513,797 shares, issued and outstanding 60,181
    and 55,240 shares as of December 31, 2024 and 2023, respectively    		   6       5  
    Class B common stock, authorized 41,203 shares, issued and outstanding 25,394
    and 26,814 shares as of December 31, 2024 and 2023, respectively    		   3       3  
    Additional paid-in capital   1,010,789       864,135  
    Accumulated deficit   (116,328 )     (130,503 )
    Accumulated other comprehensive loss   (37,281 )     (22,309 )
    TOTAL STOCKHOLDERS’ EQUITY   857,189       711,331  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,445,647     $ 1,363,493  
                   
    ALTAIR ENGINEERING INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
               
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands, except per share data) 2024     2023     2024     2023  
    Revenue                      
    License $ 131,943     $ 113,172     $ 435,288     $ 393,144  
    Maintenance and other services   47,433       42,761       176,612       156,830  
    Total software   179,376       155,933       611,900       549,974  
    Engineering services and other   13,255       15,570       53,888       62,727  
    Total revenue   192,631       171,503       665,788       612,701  
    Cost of revenue                      
    License   4,662       3,200       15,099       15,088  
    Maintenance and other services   17,604       14,340       64,014       56,094  
    Total software *   22,266       17,540       79,113       71,182  
    Engineering services and other   11,113       11,633       45,690       50,609  
    Total cost of revenue   33,379       29,173       124,803       121,791  
    Gross profit   159,252       142,330       540,985       490,910  
    Operating expenses:                      
    Research and development *   57,147       52,519       221,161       212,645  
    Sales and marketing *   47,812       43,595       184,280       176,138  
    General and administrative *   35,595       17,096       90,150       70,887  
    Amortization of intangible assets   8,709       7,708       33,022       30,851  
    Other operating (income) expense, net   (976 )     (1,178 )     (5,313 )     146  
    Total operating expenses   148,287       119,740       523,300       490,667  
    Operating income   10,965       22,590       17,685       243  
    Interest expense   1,339       1,533       5,836       6,116  
    Other income, net   (316 )     (8,794 )     (20,781 )     (18,492 )
    Income before income taxes   9,942       29,851       32,630       12,619  
    Income tax expense   8,946       10,176       18,455       21,545  
    Net income (loss) $ 996     $ 19,675     $ 14,175     $ (8,926 )
    Earnings (loss) per share, basic                      
    Earnings (loss) per share $ 0.01     $ 0.24     $ 0.17     $ (0.11 )
    Weighted average shares   85,289       81,760       84,085       80,596  
    Earnings (loss) per share, diluted                      
    Earnings (loss) per share $ 0.01     $ 0.22     $ 0.16     $ (0.11 )
    Weighted average shares   89,346       88,977       88,558       80,596  
     
    *     Amounts include stock-based compensation expense as follows (in thousands):
     
      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024     2023     2024     2023  
    Cost of revenue – software $ 2,167     $ 2,303     $ 8,397     $ 10,095  
    Research and development   6,274       7,332       25,630       33,842  
    Sales and marketing   4,784       6,271       19,459       28,376  
    General and administrative   3,745       3,252       14,194       13,268  
    Total stock-based compensation expense $ 16,970     $ 19,158     $ 67,680     $ 85,581  
                                   
    ALTAIR ENGINEERING INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOW
    (Unaudited)
         
      Year Ended December 31,  
    (in thousands) 2024     2023     2022  
    OPERATING ACTIVITIES:                
    Net income (loss) $ 14,175     $ (8,926 )   $ (43,429 )
    Adjustments to reconcile net income (loss) to net cash provided by
    operating activities:    		                
    Depreciation and amortization   42,164       39,124       35,504  
    Stock-based compensation expense   67,680       85,581       84,787  
    Deferred income taxes   (707 )     (2,319 )     (4,164 )
    Loss (gain) on mark-to-market adjustment of contingent consideration   476       5,706       (7,153 )
    Expense on repurchase of convertible senior notes   —       —       16,621  
    Other, net   2,015       1,943       2,179  
    Changes in assets and liabilities:                
    Accounts receivable   14,560       (19,141 )     (34,175 )
    Prepaid expenses and other current assets   (7,622 )     (1,915 )     1,014  
    Other long-term assets   2,431       (52 )     2,852  
    Accounts payable   (2,127 )     (1,878 )     3,771  
    Accrued compensation and benefits   7,013       1,783       280  
    Other accrued expenses and current liabilities   7,791       9,068       (59,463 )
    Deferred revenue   6,235       18,333       40,946  
    Net cash provided by operating activities   154,084       127,307       39,570  
    INVESTING ACTIVITIES:                
    Payments for acquisition of businesses, net of cash acquired   (27,070 )     (3,236 )     (134,541 )
    Capital expenditures   (14,086 )     (10,193 )     (9,648 )
    Other investing activities, net   (4,974 )     (2,423 )     (10,322 )
    Net cash used in investing activities   (46,130 )     (15,852 )     (154,511 )
    FINANCING ACTIVITIES:                
    Settlement of convertible senior notes   (81,729 )     —       —  
    Proceeds from the exercise of common stock options   65,537       36,140       3,577  
    Proceeds from employee stock purchase plan contributions   9,157       7,978       8,976  
    Payments for repurchase and retirement of common stock   —       (6,255 )     (19,659 )
    Proceeds from issuance of convertible senior notes,
    net of underwriters’ discounts and commissions    		   —       —       224,265  
    Repurchase of convertible senior notes   —       —       (192,422 )
    Payments for issuance costs of convertible senior notes   —       —       (1,523 )
    Other financing activities   —       (97 )     (233 )
    Net cash (used in) provided by financing activities   (7,035 )     37,766       22,981  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   (6,453 )     1,397       (5,094 )
    Net increase (decrease) in cash, cash equivalents and restricted cash   94,466       150,618       (97,054 )
    Cash, cash equivalents and restricted cash at beginning of year   467,576       316,958       414,012  
    Cash, cash equivalents and restricted cash at end of period $ 562,042     $ 467,576     $ 316,958  
                           

    Change in Presentation of Revenue and Cost of Revenue

    Effective in the first quarter of 2024, the Company changed the presentation of revenue and cost of revenue in its Consolidated Statements of Operations to combine the financial statement line items (“FSLIs”) labeled “Software related services”, “Client engineering services” and “Other” into one FSLI labeled “Engineering services and other”. The change in presentation has been applied retrospectively and does not affect the software revenue, total revenue, software cost of revenue or total cost of revenue amounts previously reported or have any effect on segment reporting.

    Financial Results

    The following table provides a reconciliation of Non-GAAP net income and Non-GAAP net income per share – diluted, to net income (loss) and net income (loss) per share – diluted, the most comparable GAAP financial measures:

        (Unaudited)  
        Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
     (in thousands, except per share amounts) 2024     2023     2024     2023  
     Net income (loss) $ 996     $ 19,675     $ 14,175     $ (8,926 )
     Stock-based compensation expense   16,970       19,158       67,680       85,581  
     Amortization of intangible assets   8,709       7,708       33,022       30,851  
     Non-cash interest expense   310       470       1,514       1,869  
     Impact of non-GAAP tax rate(1)   (6,842 )     (4,261 )     (21,406 )     (13,158 )
     Special adjustments and other(2)   27,219       (1,659 )     24,597       2,553  
     Non-GAAP net income $ 47,362     $ 41,091     $ 119,582     $ 98,770  
                            
     Net income (loss) per share, diluted $ 0.01     $ 0.22     $ 0.16     $ (0.11 )
     Non-GAAP net income per share, diluted $ 0.52     $ 0.47     $ 1.35     $ 1.17  
                            
     GAAP diluted shares outstanding:   89,346       88,977       88,558       80,596  
     Non-GAAP diluted shares outstanding:   92,555       88,977       91,767       84,433  
     
    (1)  For the three months and year ended December 31, 2024, the Company used a non-GAAP effective tax rate of 25%. For the three months and year ended December 31, 2023, the Company used a non-GAAP effective tax rate of 26%.
    (2)  The three months ended December 31, 2024, includes $22.3 million of expenses related to the pending Merger transaction, $4.7 million of currency losses on acquisition-related intercompany loans and a $0.3 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions. The three months ended December 31, 2023, includes $2.9 million of currency gains on acquisition-related intercompany loans and a $1.2 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions. The year ended December 31, 2024, includes $22.3 million of expenses related to the pending Merger transaction, $1.9 million of currency losses on acquisition-related intercompany loans and a $0.5 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions. The year ended December 31, 2023, includes a $5.7 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions and $3.2 million of currency gains on acquisition-related intercompany loans.
                                     

    The following table provides a reconciliation of Adjusted EBITDA to net income (loss), the most comparable GAAP financial measure:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024     2023     2024     2023  
    Net income (loss) $ 996     $ 19,675     $ 14,175     $ (8,926 )
    Income tax expense   8,946       10,176       18,455       21,545  
    Stock-based compensation expense   16,970       19,158       67,680       85,581  
    Interest expense   1,339       1,533       5,836       6,116  
    Depreciation and amortization   11,044       9,853       42,164       39,124  
    Special adjustments, interest income and other(1)   21,746       (6,822 )     1,602       (14,302 )
    Adjusted EBITDA $ 61,041     $ 53,573     $ 149,912     $ 129,138  
    (1) The three months ended December 31, 2024, includes $22.3 million of expenses related to the pending Merger transaction, $4.7 million of currency losses on acquisition-related intercompany loans, a $0.3 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions, and $5.5 million of interest income. The three months ended December 31, 2023, includes $2.9 million of currency gains on acquisition-related intercompany loans, a $1.2 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions, and $5.2 million of interest income. The year ended December 31, 2024, includes $22.3 million of expenses related to the pending Merger transaction, $1.9 million of currency losses on acquisition-related intercompany loans, a $0.5 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions, and $23.0 million of interest income. The year ended December 31, 2023, includes a $5.7 million loss from the mark-to-market adjustment of contingent consideration associated with acquisitions, $3.2 million of currency gains on acquisition-related intercompany loans, and $16.9 million of interest income.
       

     The following table provides a reconciliation of Free Cash Flow to net cash provided by operating activities, the most comparable GAAP financial measure:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024 (1)     2023     2024     2023  
    Net cash provided by operating activities $ 37,530     $ 21,651     $ 154,084     $ 127,307  
    Capital expenditures   (4,347 )     (2,311 )     (14,086 )     (10,193 )
    Free Cash Flow $ 33,183     $ 19,340     $ 139,998     $ 117,114  
    (1) Free Cash Flow for the year ended December 31, 2024, was adversely impacted by approximately $13.2 million of expenses paid related to the pending Merger transaction.
       

    The following table provides a reconciliation of Non-GAAP gross profit to gross profit, the most comparable GAAP financial measure, and a comparison of Non-GAAP gross margin (Non-GAAP gross profit as a percentage of total revenue) to gross margin (gross profit as a percentage of total revenue), the most comparable GAAP financial measure:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024     2023     2024     2023  
    Gross profit $ 159,252     $ 142,330     $ 540,985     $ 490,910  
    Stock-based compensation expense   2,167       2,303       8,397       10,095  
    Pending merger expenses   1,155       —       1,155       —  
    Non-GAAP gross profit $ 162,574     $ 144,633     $ 550,537     $ 501,005  
                           
    Gross profit margin   82.7 %     83.0 %     81.3 %     80.1 %
    Non-GAAP gross margin   84.4 %     84.3 %     82.7 %     81.8 %
                                   

    The following table provides a reconciliation of Non-GAAP operating expense to Total operating expense, the most comparable GAAP financial measure:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024     2023     2024     2023  
    Total operating expense $ 148,287     $ 119,740     $ 523,300     $ 490,667  
    Stock-based compensation expense   (14,803 )     (16,855 )     (59,283 )     (75,486 )
    Amortization   (8,709 )     (7,708 )     (33,022 )     (30,851 )
    Loss on mark-to-market adjustment of
    contingent consideration    		   (287 )     (1,212 )     (476 )     (5,706 )
    Pending merger expenses   (21,095 )     —       (21,095 )     —  
    Non-GAAP operating expense $ 103,393     $ 93,965     $ 409,424     $ 378,624  
                                   

    The following table provides the calculation of non-GAAP diluted common shares and non-GAAP net income per share, diluted:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
      2024     2023     2024     2023  
    Numerator:                      
    Non-GAAP net income $ 47,362     $ 41,091     $ 119,582     $ 98,770  
    Interest expense related to convertible notes, net of tax   1,006       1,006       4,024       —  
    Numerator for non-GAAP diluted income per share $ 48,368     $ 42,097     $ 123,606     $ 98,770  
    Denominator:                      
    Weighted average shares outstanding, basic   85,289       81,760       84,085       80,596  
    Effect of dilutive shares   7,266       7,217       7,682       3,837  
    Non-GAAP diluted shares outstanding   92,555       88,977       91,767       84,433  
    Non-GAAP net income per share, diluted $ 0.52     $ 0.47     $ 1.35     $ 1.17  
                                   

    The following table provides a reconciliation of Billings to revenue, the most comparable GAAP financial measure:

      (Unaudited)  
      Three Months Ended
    December 31,    		     Year Ended
    December 31,    		  
    (in thousands) 2024     2023     2024     2023  
    Revenue $ 192,631     $ 171,503     $ 665,788     $ 612,701  
    Ending deferred revenue   167,616       163,703       167,616       163,703  
    Beginning deferred revenue   (140,835 )     (138,933 )     (163,703 )     (144,460 )
    Deferred revenue acquired   —       (149 )     (1,825 )     (149 )
    Billings $ 219,412     $ 196,124     $ 667,876     $ 631,795  
                                   

    The following table provides Software revenue, Total revenue, Billings and Adjusted EBITDA on a constant currency basis:

      (Unaudited)  
      Three Months Ended
    December 31, 2024    		     Three Months Ended December 31, 2023     Increase/
    (Decrease) %    		  
    (in thousands) As reported     Currency
    changes    		     As adjusted for
    constant
    currency    		     As reported     As reported     As adjusted for
    constant
    currency    		  
    Software revenue $ 179.4     $ 2.3     $ 181.7     $ 155.9       15.0 %     16.5 %
    Total revenue $ 192.6     $ 2.6     $ 195.2     $ 171.5       12.3 %     13.8 %
    Billings $ 219.4     $ 3.6     $ 223.0     $ 196.1       11.9 %     13.7 %
    Adjusted EBITDA $ 61.0     $ 1.3     $ 62.3     $ 53.6       13.9 %     16.2 %
                                       
                                       
      (Unaudited)  
      Year Ended
    December 31, 2024    		     Year Ended
    December 31, 2023    		     Increase/
    (Decrease) %    		  
    (in thousands) As reported     Currency
    changes    		     As adjusted for
    constant
    currency    		     As reported     As reported     As adjusted for
    constant
    currency    		  
    Software revenue $ 611.9     $ 6.8     $ 618.7     $ 550.0       11.3 %     12.5 %
    Total revenue $ 665.8     $ 7.2     $ 673.0     $ 612.7       8.7 %     9.8 %
    Billings $ 667.9     $ 8.1     $ 676.0     $ 631.8       5.7 %     7.0 %
    Adjusted EBITDA $ 149.9     $ 4.6     $ 154.5     $ 129.1       16.1 %     19.7 %
                                                   

    The MIL Network –

    February 21, 2025

  • MIL-OSI: Altus Group Reports Q4 and Fiscal 2024 Financial Results; Announces Quarterly Dividend and Renewal of Normal Course Issuer Bid

    Source: GlobeNewswire (MIL-OSI)

    Delivers robust recurring revenue growth, margin expansion and cashflow improvement in FY 2024

    Altus Group remains strongly positioned to sustain revenue growth and margin expansion in FY 2025

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (ʺAltus Group” or “the Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today its financial and operating results for the fourth quarter and year ended December 31, 2024. The Company also announced the approval by its Board of Directors (“Board”) of the payment of a cash dividend of $0.15 per common share for the first quarter ending March 31, 2025, and that the Toronto Stock Exchange (“TSX”) has approved its notice of intention to renew its normal course issuer bid (“NCIB”).

    The 2024 results from the Property Tax segment have been classified as Discontinued Operations. Accordingly, all amounts except for Free Cash Flow and net cash provided by operating activities represent results from Continuing Operations. Unless otherwise indicated, all amounts are in Canadian dollars and percentages are on an as reported basis in comparison to Q4 2023 and FY 2023 (which have been restated to exclude results from Property Tax).

    Q4 2024 Summary

    • Consolidated revenues were $135.5 million, up 3.4% (1.0% on a Constant Currency* basis).
    • Profit (loss) from continuing operations was $22.9 million, compared to $(8.3) million.  
    • Earnings per share (“EPS”) from continuing operations were $0.50 basic and $0.48 diluted, compared to $(0.18) basic diluted.
    • Consolidated Adjusted EBITDA* was $32.4 million, up 55.4% (51.8% on a Constant Currency basis).
    • Adjusted EPS* was $0.85, compared to $0.26.
    • Analytics Recurring Revenue* was $101.1 million, up 8.7% (5.8% on a Constant Currency basis).
    • Analytics Adjusted EBITDA was $36.4 million, up 29.4% (25.2% on a Constant Currency basis).
    • Analytics Adjusted EBITDA margin* improved to 33.8%, up 650 bps (630 bps on a Constant Currency basis).
    • Analytics Recurring New Bookings* were $21.1 million, up 15.6% (10.9% on a Constant Currency basis).

    FY 2024 Summary

    • Consolidated revenues were $519.7 million, up 2.0% (0.6% on a Constant Currency* basis).
    • Profit (loss) from continuing operations was $(0.8) million, compared to $(33.5) million.  
    • Earnings per share (“EPS”) from continuing operations were $(0.02) basic and diluted, compared to $(0.74) basic and diluted.
    • Consolidated Adjusted EBITDA* was $82.9 million, up 26.0% (23.7% on a Constant Currency basis).
    • Adjusted EPS* was $1.17, compared to $0.48.
    • Analytics Recurring Revenue* was $383.4 million, up 8.1% (6.4% on a Constant Currency basis).
    • Analytics Adjusted EBITDA was $117.2 million, up 22.7% (20.0% on a Constant Currency basis).
    • Analytics Adjusted EBITDA margin* improved to 28.5%, up 420 bps (400 bps on a Constant Currency basis).
    • Net cash provided by operating activities was $79.9 million, up 11.9% and Free Cash Flow* was $72.5 million, up 23.0%.
    • In 2024, the Company repurchased 203,400 common shares under the NCIB for total cash consideration of approximately $11.0 million, at a weighted average price per share of $54.29. (An additional 115,300 common shares were purchased in January 2025 for total cash consideration of $6.3 million at a weighted average price per share of $54.49.)

    *Altus Group uses certain non-GAAP financial measures such as Adjusted Earnings (Loss), and Constant Currency; non-GAAP ratios such as Adjusted EPS; total of segments measures such as Adjusted EBITDA; capital management measures such as Free Cash Flow; and supplementary financial and other measures such as Adjusted EBITDA margin, New Bookings, Recurring New Bookings, Non-Recurring New Bookings, Organic Revenue, Recurring Revenue, Non-Recurring Revenue, Organic Recurring Revenue, and Cloud Adoption Rate.   Refer to the “Non-GAAP and Other Measures” section for more information on each measure and a reconciliation of Adjusted EBITDA and Adjusted Earnings (Loss) to Profit (Loss) and Free Cash Flow to Net cash provided by (used in) operating activities.

    “I’m incredibly proud of our team for finishing the year on such a strong note,” said Jim Hannon, Chief Executive Officer. “In 2024, we achieved record performance at Analytics – $411 million in revenue and $117 million in Adjusted EBITDA, with an Adjusted EBITDA margin of 28.5%, our highest in a decade.

    Throughout the year, we delivered significant product enhancements, streamlined our portfolio, won outstanding new customers, and deepened relationships across our expanding client base. This success fuelled cash flow growth and reinforced our momentum, even as the industry navigated a challenging cycle.

    As we celebrate our 20-year anniversary this year, I’m more excited than ever about the road ahead. With a strengthened operating foundation in place, we’re poised to redefine how the CRE industry leverages data to drive performance – empowering our clients with unparalleled insights to make faster, more informed decisions and seize opportunities as the market continues to recover.”

    Summary of Operating and Financial Performance by Reportable Segment:

    “CC” in the tables indicates “Constant Currency”.  

    Consolidated
    Quarter ended December 31, Year ended December 31,
    In thousands of dollars   2024   2023   % Change   Constant Currency % Change   2024   2023   % Change   Constant Currency % Change
    Revenues $ 135,501 $ 131,050   3.4%   1.0% $ 519,727 $ 509,732   2.0%   0.6%
    Profit (loss) from continuing operations, net of tax $ 22,872 $ (8,319)   374.9%     $ (793) $ (33,493)   97.6%    
    Adjusted EBITDA* $ 32,420 $ 20,858   55.4%   51.8% $ 82,895 $ 65,763   26.1%   23.7%
    Adjusted EBITDA margin*   23.9%   15.9%   800 bps   800 bps   15.9%   12.9%   305 bps   300 bps
    Net cash provided by operating activities $ 24,708 $ 44,693   (44.7%)     $ 79,920 $ 71,429   11.9%    
    Free Cash Flow* $ 24,599 $ 40,141   (38.7%)     $ 72,465 $ 58,938   23.0%    
    Analytics
      Quarter ended December 31, Year ended December 31,
    In thousands of dollars   2024   2023   % Change   Constant Currency % Change   2024   2023   % Change   Constant Currency % Change
    Revenues $ 107,721 $ 103,190   4.4%   1.6% $ 411,282 $ 392,913   4.7%   3.0%
    Adjusted EBITDA $ 36,409 $ 28,145   29.4%   25.2% $ 117,162 $ 95,469   22.7%   20.0%
    Adjusted EBITDA margin   33.8%   27.3%   650 bps   630 bps   28.5%   24.3%   420 bps   400 bps
                                     
    Other Measures                                
    Recurring Revenue* $ 101,060 $ 93,010   8.7%   5.8% $ 383,366 $ 354,563   8.1%   6.4%
    New Bookings* $ 25,845 $ 26,254   (1.6%)   (5.3%) $ 86,306 $ 94,493   (8.7%)   (10.2%)
    Recurring New Bookings* $ 21,074 $ 18,236   15.6%   10.9% $ 67,780 $ 64,507   5.1%   3.3%
    Non-Recurring New Bookings* $ 4,771 $ 8,017   (40.5%)   (42.2%) $ 18,526 $ 29,986   (38.2%)   (39.2%)
    Geographical revenue split                                
    North America   77%   77%           76%   77%        
    International   23%   23%           24%   23%        
    Cloud Adoption Rate* (as at end of period)   –   –           82%   74%        
    Appraisals and Development Advisory
      Quarter ended December 31, Year ended December 31,
    In thousands of dollars   2024   2023   % Change   Constant Currency % Change   2024   2023   % Change   Constant Currency % Change
    Revenues $ 27,964 $ 28,046   (0.3%)   (1.0%) $ 109,208 $ 117,577   (7.1%)   (7.3%)
    Adjusted EBITDA $ 4,401 $ 2,254   95.3%   93.4% $ 9,909 $ 11,540   (14.1%)   (15.0%)
    Adjusted EBITDA margin   15.7%   8.0%   770 bps   770 bps   9.1%   9.8%   70 bps   80 bps


    Q4 2024 Financial Review

    On a consolidated basis, revenues were $135.5 million, up 3.4% (1.0% on a Constant Currency basis) and Adjusted EBITDA was $32.4 million, up 55.4% (51.8% on a Constant Currency basis). Adjusted EPS was $0.85, compared to $0.26 in the fourth quarter of 2023.

    In early 2024, the Company initiated a global restructuring program as part of an ongoing effort to optimize its operating model. Restructuring costs were $2.9 million in the fourth quarter, totalling $12.1 million for the year. The restructuring costs primarily related to employee severance impacting both the Analytics and Appraisals and Development Advisory business segments, as well as corporate functions.

    Profit (loss) from continuing operations was $22.9 million and $0.50 per share basic and $0.48 diluted, compared to $(8.3) million and $(0.18) per share basic and diluted, in the same period in 2023. Profit (loss) from continuing operations benefitted from higher revenues, offset by acquisition and related costs and the restructuring program.

    Analytics revenues increased to $107.7 million, up 4.4% (1.6% on a Constant Currency basis). Organic Revenue* growth was 3.2% (0.4% on a Constant Currency basis). Adjusted EBITDA was $36.4 million, up 29.4% (25.2% on a Constant Currency basis), driving an Adjusted EBITDA margin of 33.8%, up 650 basis points (630 basis points on a Constant Currency basis).

    • Revenue growth was driven by resilient Recurring Revenue performance benefitting from higher software and Valuation Management Solutions (“VMS”) sales and contribution from Forbury.   
    • Recurring Revenue was $101.1 million, up 8.7% (5.8% on a Constant Currency basis). Organic Recurring Revenue* was $99.3 million, up 7.3% (4.5% on a Constant Currency Basis) from $92.5 million in the same period in 2023.
    • New Bookings totalled $25.8 million, down 1.6% (5.3% on a Constant Currency basis). Recurring New Bookings were $21.1 million, up 15.6% (10.9% on a Constant Currency basis), and Non-Recurring New Bookings were $4.8 million, down 40.5% (42.2% on a Constant Currency basis).
    • Adjusted EBITDA growth and margin expansion benefitted from higher revenues, operating efficiencies, ongoing cost optimization efforts, and foreign exchange fluctuations.

    Appraisals and Development Advisory revenues were $28.0 million, down 0.3% (1.0% on a Constant Currency basis) and Adjusted EBITDA was $4.4 million, up 95.3% (93.4% on a Constant Currency basis). The revenue performance reflects muted market activity in the current economic environment. The improvement in Adjusted EBITDA reflects ongoing cost optimization efforts.

    Corporate costs were $8.4 million for the quarter ended December 31, 2024, compared to $9.5 million in the same period in 2023. The decrease in corporate costs in the fourth quarter primarily reflects the settlement of certain balances in preparation for the sale of the Property Tax business resulting in favourable foreign exchange fluctuations for the period.

    Cash generation (which reflects both continuing and discontinued operations) was down in the fourth quarter reflecting a tough compare. Net cash provided by operating activities was $24.7 million and Free Cash Flow was $24.6 million, down 44.7% and 38.7% respectively. On a year-over-year view, the fourth quarter of 2023 benefitted from a catch up on billings related to the implementation of a new enterprise resource planning (“ERP”) system. For full year 2024, net cash provided by operating activities was up 11.9% and Free Cash Flow was up 23.0%.

    As at December 31, 2024, bank debt was $282.9 million and cash and cash equivalents were $41.9 million, representing a Funded debt to EBITDA ratio as defined in the Company’s credit facility agreement of 2.01 times, well below the Company’s 4.5x maximum capacity limit under its credit facilities. At the end of the year, the Company had approximately $309.0 million of total liquidity as measured by the sum of cash and cash equivalents and bank credit facilities available. Including approximately $600.0 million of net proceeds from the sale of the Property Tax business, completed on January 1, 2025, total liquidity would be approximately $909.0 million.

    2025 Business Outlook

    The Company remains strongly positioned to sustain revenue and Adjusted EBITDA growth at a higher Adjusted EBITDA margin in 2025. Management expects CRE market conditions to gradually improve throughout 2025 with a stronger second half of the year. The business outlook for 2025 by reportable segment is as follows: 

    FY 2025 Q1 2025
    Analytics        
    • 4 – 7% total Analytics revenue growth • 0 – 2% total Analytics revenue growth
    • 6 – 9% Recurring Revenue growth • 2 – 3% Recurring Revenue growth
    • 250 – 350 bps of Adjusted EBITDA margin expansion • 50– 150 bps of Adjusted EBITDA margin expansion
           
    Appraisals and Development Advisory        
    • Low single digit revenue growth • 4 – 6% revenue decline
    • Adjusted EBITDA margin expansion • $1 – 2M Adjusted EBITDA improvement
           
    Consolidated        
    • 3 – 5% revenue growth • Flat revenue growth
    • 300 – 400 bps of Adjusted EBITDA margin expansion • 150 – 250 bps of Adjusted EBITDA margin expansion
           


    Note: Business Outlook presented on a Constant Currency basis over     the corresponding period in 2024.  Future acquisitions are not factored into this outlook.

    Forecasting future results or trends is inherently difficult for any business and actual results or trends may vary significantly. The business outlook is forward-looking information that is based upon the assumptions and subject to the material risks discussed under the “Forward-Looking Information Disclaimer” section.

    Key assumptions for the business outlook by segment:  Analytics: consistency and growth in number of assets on the Valuation Management Solutions platform, continued ARGUS cloud conversions, new sales (including New Bookings converting to revenue within Management’s expected timeline and uptake on new product functionality), client and software retention consistent with 2024 levels, pricing action, improved operating leverage, as well as consistent and gradually improving economic conditions in financial and CRE markets.  Appraisal & Development Advisory: improved client profitability and improved operating leverage. The Consolidated outlook assumes that corporate costs will remain elevated throughout 2025 consistent with 2024 levels.  

    Q1 2025 Dividend

    Altus Group’s Board approved the payment of a cash dividend of $0.15 per common share for the first quarter ending March 31, 2025, with payment to be made on April 15, 2025 to common shareholders of record as at March 31, 2024.

    Altus Group’s Dividend Reinvestment Plan (“DRIP”) permits eligible shareholders to direct their cash dividends to be reinvested in additional common shares of the Company. For shareholders who wish to reinvest their dividends under the DRIP, Altus Group intends to issue common shares from treasury at a price equal to 96% of the weighted average closing price of the shares for the five trading days preceding the dividend payment date. Full details of the DRIP program are available on the Company’s website.

    Altus Group confirms that all dividends paid or deemed to be paid to its common shareholders qualify as ʺeligible dividendsʺ for purposes of subsection 89(14) of the Income Tax Act (Canada) and similar provincial and territorial legislation, unless indicated otherwise.

    Renewal of Normal Course Issuer Bid

    The Toronto Stock Exchange (“TSX”) has approved the Company’s notice of intention to renew its normal course issuer bid (“NCIB”) for its common shares. Altus’ NCIB will be made in accordance with the policies of the TSX. Altus may purchase its common shares during the period from February 25, 2025 to February 24, 2026.

    Under the NCIB and subject to the market price of its common shares and other considerations, over the next 12 months Altus may purchase for cancellation up to 3,219,967 common shares, representing approximately 10% of its public float as at February 11, 2025. There were 46,190,841 common shares outstanding as at February 11, 2025. The average daily trading volume through the facilities of the TSX during the 26-week period ending January 31, 2025 was 70,585 common shares. Daily purchases will be limited to 17,646 common shares, representing 25% of the average daily trading volume, other than block purchase exemptions. Purchases may be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems at the market price at the time of acquisition, as well as by other means as may be permitted by TSX rules and applicable securities laws. Any tendered shares taken up and paid for by Altus will be cancelled. The Company plans to fund the NCIB purchases from its existing cash balance.

    Under its previous NCIB which commenced on February 8, 2024 and expired on February 7, 2025, Altus obtained approval from the TSX to purchase up to 1,376,034 common shares. As of February 11, 2025, Altus had purchased an aggregate of 318,700 common shares for cancellation under an NCIB in the past 12 months at a weighted average price of approximately $54.36 per common share. All repurchases under an NCIB within the past 12 months were conducted through the facilities of the TSX and/or alternative Canadian trading systems.

    The Company intends to enter into an automatic share purchase plan with a designated broker in relation to the NCIB that would allow for the purchase of its common shares, subject to certain trading parameters, at times when Altus ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Any such plan entered into with a broker will be adopted in accordance with applicable Canadian securities law. Outside of these periods, common shares will be repurchased in accordance with management’s discretion and in compliance with applicable law.

    The Company is renewing the NCIB because it believes that it provides flexibility around its capital allocation investments, particularly during periods when its common shares may trade in a price range that does not adequately reflect their underlying value based on the Company’s business and strong financial position. As a result, to maximize shareholder value, Altus believes that an investment in its outstanding common shares may represent an attractive use of available funds while continuing to balance other growth investments, including investing in operations and in potential M&A. Decisions regarding the amount and timing of future purchases of common shares will be based on market conditions, share price and other factors and will be at management’s discretion. The Company’s Board of Directors will regularly review the NCIB in connection with a balanced capital allocation strategy focused primarily on funding growth.


    About Altus Group

    Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit www.altusgroup.com.

    Non-GAAP and Other Measures

    Altus Group uses certain non-GAAP financial measures, non-GAAP ratios, total of segments measures, capital management measures, and supplementary and other financial measures as defined in National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”). Management believes that these measures may assist investors in assessing an investment in the Company’s shares as they provide additional insight into the Company’s performance. Readers are cautioned that they are not defined performance measures, and do not have any standardized meaning under IFRS and may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to financial measures as reported by those entities. These measures should not be considered in isolation or as a substitute for financial measures prepared in accordance with IFRS.

    Adjusted Earnings (Loss): Altus Group uses Adjusted Earnings (Loss) to facilitate the calculation of Adjusted EPS. How it’s calculated: Profit (loss) added or (deducted) by: profit (loss) from discontinued operations, net of tax; occupancy costs calculated on a similar basis prior to the adoption of IFRS 16; depreciation of right‐of‐use assets; amortization of intangibles of acquired businesses; acquisition and related transition costs (income); unrealized foreign exchange losses (gains); (gains) losses on disposal of right‐of‐use assets, property, plant and equipment and intangibles; share of (profit) loss of joint venture; non‐cash share‐based compensation costs; (gains) losses on equity derivatives net of mark‐to‐market adjustments on related RSUs and DSUs; (gains) losses on derivatives; interest accretion on contingent consideration payables; restructuring costs (recovery); impairment charges; (gains) losses on investments; (gains) losses on hedging transactions and interest expense (income) on swaps; other costs or income of a non‐operating and/or non‐recurring nature; finance costs (income), net ‐ leases; and the tax impact of these items.

    Constant Currency: Altus Group uses Constant Currency to allow current financial and operational performance to be understood against comparative periods without the impact of fluctuations in foreign currency exchange rates against the Canadian dollar. How it’s calculated: The financial results and non-GAAP and other measures presented at Constant Currency within this document are obtained by translating monthly results denominated in local currency (U.S. dollars, British pound, Euro, Australian dollars, and other foreign currencies) to Canadian dollars at the foreign exchange rates of the comparable month in the previous year.

    Adjusted EPS: Altus Group uses Adjusted EPS to assess the performance of the business, on a per share basis, before the effects of the noted items because they affect the comparability of the Company’s financial results and could potentially distort the analysis of trends in business performance. How it’s calculated: Adjusted Earnings (Loss) divided by basic weighted average number of shares, adjusted for the effects of the weighted average number of restricted shares.

    Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”): Altus Group uses Adjusted EBITDA to evaluate the performance of the business, as well as when making decisions about the ongoing operations of the business and the Company’s ability to generate cash flows. This measure represents Adjusted EBITDA determined on a consolidated entity-basis as a total of the various segments. All other Adjusted EBITDA references are disclosed in the financial statements and are not considered to be non-GAAP financial measures pursuant to NI 52-112. How it’s calculated: Profit (loss) added or (deducted) by: profit (loss) from discontinued operations, net of tax; occupancy costs calculated on a similar basis prior to the adoption of IFRS 16; depreciation of right‐of‐use assets; depreciation of property, plant and equipment and amortization of intangibles; acquisition and related transition costs (income); unrealized foreign exchange (gains) losses; (gains) losses on disposal of right‐of-use assets, property, plant and equipment and intangibles; share of (profit) loss of joint venture; non‐cash share‐based compensation costs; (gains) losses on equity derivatives net of mark‐to market adjustments on related restricted share units (“RSUs”) and deferred share units (“DSUs”); (gains) losses on derivatives, restructuring costs (recovery); impairment charges; (gains) losses on investments; other costs or income of a non‐operating and/or non‐recurring nature; finance costs (income), net ‐ leases; finance costs (income), net ‐ other; and income tax expense (recovery).

    Free Cash Flow: Altus Group uses Free Cash Flow to understand how much of the cash generated from operating activities is available to repay borrowings and to reinvest in the Company. How it’s calculated: Net cash provided by (used in) operating activities deducted by capital expenditures.

    Adjusted EBITDA Margin: Altus Group uses Adjusted EBITDA margin to evaluate the performance of the business, as well as when making decisions about the ongoing operations of the business and its ability to generate cash flows. How it’s calculated: Adjusted EBITDA divided by revenue.

    New Bookings, Recurring New Bookings and Non-Recurring New Bookings: For its Analytics reportable segment, Altus Group uses New Bookings, Recurring New Bookings and Non-Recurring New Bookings as measures to track the performance and success of sales initiatives, and as an indicator of future revenue growth. How it’s calculated: New Bookings: The total of annual contract values for new sales of the Company’s recurring solutions and services (software subscriptions, Valuation Management Solutions and data subscriptions) plus the total of contract values for one-time engagements (consulting, training, and due diligence). The value of contract renewals is excluded from this metric with the exception of additional capacity or products purchased at the time of renewal. The total annual contract values for VMS are based on an estimated number of assets at the end of the first year of the contract term. New Bookings is inclusive of any new signed contracts as well as any additional solutions and services added by existing customers within the Analytics reportable segment. Recurring New Bookings: The total of annual contract values for new sales of the recurring solutions and services. Non-Recurring New Bookings: The total of contract values for one-time engagements.

    Organic Revenue: Altus Group uses Organic Revenue to evaluate and assess revenue trends in the business on a comparable basis versus the prior year, and as an indicator of future revenue growth. How it’s calculated: Revenue deducted by revenues from business acquisitions that are not fully integrated (up to the first anniversary of the acquisition).

    Recurring Revenue, Non-Recurring Revenue, Organic Recurring Revenue: For its Analytics reportable segment, Altus Group uses Recurring Revenue and Non-Recurring Revenue, and Organic Recurring Revenue as measures to assess revenue trends in the business, and as indicators of future revenue growth. How it’s calculated: Recurring Revenue: Revenue from software subscriptions recognized on an over time basis in accordance with IFRS 15, software maintenance revenue associated with the Company’s legacy licenses sold on perpetual terms, Valuation Management Solutions, and data subscriptions. Non-Recurring Revenue: Total Revenue deducted by Recurring Revenue. Organic Recurring Revenue: Recurring Revenue deducted by Recurring Revenue from business acquisitions that are not fully integrated (up to the first anniversary of the acquisition).

    Cloud Adoption Rate: For its Analytics reportable segment, Altus Group uses the Cloud Adoption Rate as a measure of its progress in transitioning the AE user base to its cloud-based platform, a key component of its overall product strategy. How it’s calculated: Percentage of the total AE user base contracted on the ARGUS Cloud platform.

    Forward-looking Information

    Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, statements relating to expected financial and other benefits of acquisitions and the closing of acquisitions (including the expected timing of closing), as well as the discussion of our business, strategies and leverage (including the commitment to increase borrowing capacity), expectations of future performance, including any guidance on financial expectations, and our expectations with respect to cash flows and liquidity. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “would”, “could”, “should”, “continue”, “goal”, “objective”, “remain” and other similar terminology. 

    Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may not be known and may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information (including sections entitled “Business Outlook”) include, but are not limited to: engagement and product pipeline opportunities in Analytics will result in associated definitive agreements; continued adoption of cloud subscriptions by our customers; retention of material clients and bookings; sustaining our software and subscription renewals; successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets including stable interest rates and credit availability for CRE; consistent and stable legislation in the various countries in which we operate; consistent and stable foreign exchange conditions; no disruptive changes in the technology environment; opportunity to acquire accretive businesses and the absence of negative financial and other impacts resulting from strategic investments or acquisitions on short term results; successful integration of acquired businesses; and continued availability of qualified professionals.  

    Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks include, but are not limited to: the CRE market conditions; the general state of the economy; our financial performance; our financial targets; our international operations; acquisitions, joint ventures and strategic investments; business interruption events; third party information and data; cybersecurity; industry competition; professional talent; our subscription renewals; our sales pipeline; client concentration and loss of material clients; product enhancements and new product introductions; technology strategy; our use of technology; intellectual property; compliance with laws and regulations; privacy and data protection; artificial intelligence; our leverage and financial covenants; interest rates; inflation; our brand and reputation; our cloud transition; fixed price engagements; currency fluctuations; credit; tax matters; our contractual obligations; legal proceedings; regulatory review; health and safety hazards; our insurance limits; dividend payments; our share price; share repurchase programs; our capital investments; equity and debt financings; our internal and disclosure controls; and environmental, social and governance (“ESG”) matters and climate change, as well as those described in our annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2024 (which are available on SEDAR+ at www.sedarplus.ca).  

    Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities. 

    Certain information in this press release, including sections entitled “2025 Business Outlook”, may be considered as “financial outlook” within the meaning of applicable securities legislation. The purpose of this financial outlook is to provide readers with disclosure regarding Altus Group’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes. 

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Camilla Bartosiewicz
    Chief Communications Officer, Altus Group
    (416) 641-9773
    camilla.bartosiewicz@altusgroup.com  

    Martin Miasko
    Investor Relations Director, Altus Group
    (416) 204-5136
    martin.miasko@altusgroup.com


    Interim Condensed Consolidated Statements of Comprehensive Income (Loss)
    For the Years Ended December 31, 2024 and 2023
    (Unaudited)
    (Expressed in Thousands of Canadian Dollars, Except for Per Share Amounts)

        For the year ended December 31, 2024   For the year ended December 31, 2023 (1)
    Revenues $ 519,727 $ 509,732
    Expenses        
    Employee compensation   336,327   340,525
    Occupancy   5,398   5,359
    Other operating   100,464   124,075
    Depreciation of right-of-use assets   8,271   8,047
    Depreciation of property, plant and equipment   3,706   4,629
    Amortization of intangibles   32,039   32,753
    Acquisition and related transition costs (income)   8,914   3,950
    Share of (profit) loss of joint venture   (2,950)   (3,146)
    Restructuring costs (recovery)   12,052   313
    (Gain) loss on investments   (446)   301
    Impairment charge   7,000   –
    Finance costs (income), net – leases   938   771
    Finance costs (income), net – other   18,457   23,836
    Profit (loss) before income taxes from continuing operations   (10,443)   (31,681)
    Income tax expense (recovery)   (9,650)   1,812
    Profit (loss) from continuing operations, net of tax $ (793) $ (33,493)
    Profit (loss) from discontinued operations, net of tax   14,216   43,725
    Profit (loss) for the year $ 13,423 $ 10,232
    Other comprehensive income (loss):        
    Items that may be reclassified to profit or loss in subsequent periods:        
    Currency translation differences   30,553   (2,055)
    Items that are not reclassified to profit or loss in subsequent periods:        
    Changes in investments measured at fair value through other comprehensive income, net of tax   (1,646)   (1,144)
    Other comprehensive income (loss), net of tax   28,907   (3,199)
    Total comprehensive income (loss) for the year, net of tax $ 42,330 $ 7,033
             
    Earnings (loss) per share attributable to the shareholders of the Company during the year        
    Basic earnings (loss) per share:        
    Continuing operations   $(0.02)   $(0.74)
    Discontinued operations   $0.31   $0.97
    Diluted earnings (loss) per share:        
    Continuing operations   $(0.02)   $(0.74)
    Discontinued operations   $0.30   $0.95
    (1) Comparative figures have been restated to reflect discontinued operations


    Interim Condensed Consolidated Balance Sheets
    As at December 31, 2024 and December 31, 2023
    (Unaudited)

    (Expressed in Thousands of Canadian Dollars)

        December 31, 2024   December 31, 2023
    Assets        
    Current assets        
    Cash and cash equivalents $ 41,876 $ 41,892
    Trade receivables and other   144,812   250,462
    Income taxes recoverable   5,099   9,532
    Derivative financial instruments   8,928   677
        200,715   302,563
    Assets held for sale   282,233   –
    Total current assets   482,948   302,563
    Non-current assets        
    Trade receivables and other   9,620   10,511
    Derivative financial instruments   9,984   8,134
    Investments   14,580   14,509
    Investment in joint venture   25,605   22,655
    Deferred tax assets   56,797   30,650
    Right-of-use assets   19,420   25,282
    Property, plant and equipment   13,217   19,768
    Intangibles   214,614   270,641
    Goodwill   404,176   509,980
    Total non-current assets   768,013   912,130
    Total assets $ 1,250,961 $ 1,214,693
    Liabilities        
    Current liabilities        
    Trade payables and other $ 216,390 $ 199,220
    Income taxes payable   3,017   4,710
    Lease liabilities   11,009   14,346
        230,416   218,276
    Liabilities directly associated with assets held for sale   57,680   –
    Total current liabilities   288,096   218,276
    Non-current liabilities        
    Trade payables and other   19,828   22,530
    Lease liabilities   26,751   33,755
    Borrowings   281,887   307,451
    Deferred tax liabilities   17,179   30,144
    Total non-current liabilities   345,645   393,880
    Total liabilities   633,741   612,156
    Shareholders’ equity        
    Share capital   798,087   769,296
    Contributed surplus   21,394   50,143
    Accumulated other comprehensive income (loss)   56,243   42,434
    Retained earnings (deficit)   (275,935)   (259,336)
    Reserves of assets held for sale   17,431   –
    Total shareholders’ equity   617,220   602,537
    Total liabilities and shareholders’ equity $ 1,250,961 $ 1,214,693


    Interim Condensed Consolidated Statements of Cash Flows
    For the Years Ended December 31, 2024 and 2023
    (Unaudited)
    (Expressed in Thousands of Canadian Dollars)

        For the year ended December 31, 2024   For the year ended December 31, 2023
    Cash flows from operating activities        
    Profit (loss) before income taxes from continuing operations  $  (10,443)  $ (31,681)
    Profit (loss) before income taxes from discontinued operations   19,200   54,011
    Profit (loss) before income taxes $ 8,757 $ 22,330
    Adjustments for:        
    Depreciation of right-of-use assets   9,945   11,121
    Depreciation of property, plant and equipment   4,554   6,102
    Amortization of intangibles   35,916   40,717
    Finance costs (income), net – leases   1,189   1,222
    Finance costs (income), net – other   17,979   23,877
    Share-based compensation   23,669   23,068
    Unrealized foreign exchange (gain) loss   (337)   1,622
    (Gain) loss on investments   (446)   301
    (Gain) loss on disposal of right-of-use assets, property, plant and equipment and intangibles   (2,025)   454
    (Gain) loss on equity derivatives   (9,942)   8,599
    Share of (profit) loss of joint venture   (2,950)   (3,146)
    Impairment of non-financial assets   7,000   –
    Impairment of right-of-use assets, net of (gain) loss on sub-leases   (322)   (565)
    Net changes in:        
    Operating working capital   11,703   (24,117)
    Liabilities for cash-settled share-based compensation   19,246   591
    Deferred consideration payables   (1,674)   (1,610)
    Contingent consideration payables   (200)   (2,989)
    Net cash generated by (used in) operations   122,062   107,577
    Less: interest paid on borrowings   (18,064)   (20,273)
    Less: interest paid on leases   (1,189)   (1,222)
    Less: income taxes paid   (23,588)   (14,889)
    Add: income taxes refunded   699   236
    Net cash provided by (used in) operating activities   79,920   71,429
    Cash flows from financing activities        
    Proceeds from exercise of options   17,678   10,417
    Financing fees paid   (170)   (8)
    Proceeds from borrowings   34,426   72,154
    Repayment of borrowings   (72,360)   (83,599)
    Payments of principal on lease liabilities   (15,944)   (15,094)
    Proceeds from right-of-use asset lease inducements   –   525
    Dividends paid   (24,726)   (26,579)
    Treasury shares purchased for share-based compensation   (3,483)   (4,817)
    Cancellation of shares   (11,043)   (4,780)
    Net cash provided by (used in) financing activities   (75,622)   (51,781)
    Cash flows from investing activities        
    Purchase of investments   (882)   (841)
    Purchase of intangibles   (6,063)   (7,664)
    Purchase of property, plant and equipment   (1,392)   (4,827)
    Proceeds from investments   93   28
    Proceeds from disposal of investments   –   3,471
    Proceeds from sale of disposal group   11,016   –
    Acquisitions, net of cash acquired   –   (25,090)
    Net cash provided by (used in) investing activities   2,772   (34,923)
    Effect of foreign currency translation   1,630   1,900
    Net increase (decrease) in cash and cash equivalents   8,700   (13,375)
    Cash and cash equivalents, beginning of year   41,892   55,267
    Cash and cash equivalents, end of year (1)  $ 50,592 $ 41,892
    (1) Included in cash and cash equivalents as at December 31, 2024 is $8,716 related to discontinued operations


    Reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss)

    The following table provides a reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss):

      Quarter ended December 31, Year ended December 31,
    In thousands of dollars, except for per share amounts   2024   2023 (1)   2024   2023 (1)
    Profit (loss) for the period $ 10,638 $ (140) $ 13,423 $ 10,232
    (Profit) loss from discontinued operations, net of tax   12,234   (8,179)   (14,216)   (43,725)
    Occupancy costs calculated on a similar basis prior to the adoption of IFRS 16 (2)   (1,618)   (1,289)   (9,157)   (8,431)
    Depreciation of right-of-use assets   1,595   2,078   8,271   8,047
    Depreciation of property, plant and equipment and amortization of intangibles (8)   8,752   9,560   35,745   37,382
    Acquisition and related transition costs (income)   20   3,759   8,914   3,950
    Unrealized foreign exchange (gain) loss (3)   543   970   760   3,622
    (Gain) loss on disposal of right-of-use assets, property, plant and equipment and intangibles (3)   (4,074)   (3)   (2,496)   16
    Share of (profit) loss of joint venture   (937)   (810)   (2,950)   (3,146)
    Non-cash share-based compensation costs (4)   3,231   3,041   13,285   11,178
    (Gain) loss on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs (4)   24   1,512   (2,891)   5,531
    Restructuring costs (recovery)   2,939   311   12,052   313
    (Gain) loss on investments (5)   194   659   (446)   301
    Impairment charge   7,000   –   7,000   –
    Other non-operating and/or non-recurring (income) costs (6)   2,951   2,528   5,856   14,074
    Finance costs (income), net – leases   301   131   938   771
    Finance costs (income), net – other (9)   3,781   8,816   18,457   23,836
    Income tax expense (recovery) (10)   (15,154)   (2,086)   (9,650)   1,812
    Adjusted EBITDA $ 32,420 $ 20,858 $ 82,895 $ 65,763
    Depreciation of property, plant and equipment and amortization of intangibles of non-acquired businesses (8)   (1,836)   (2,322)   (6,797)   (8,955)
    Finance (costs) income, net – other (9)   (3,781)   (8,816)   (18,457)   (23,836)
    (Gain) loss on hedging transactions, including currency forward contracts and interest expense (income) on swaps (9)   (502)   3,762   202   3,057
    Tax effect of adjusted earnings (loss) adjustments (10)   13,055   (1,664)   (3,830)   (13,958)
    Adjusted earnings (loss)* $ 39,356 $ 11,818 $ 54,013 $ 22,071
    Weighted average number of shares – basic   45,904,069   45,421,165   45,787,374   45,302,194
    Weighted average number of restricted shares   233,275   433,123   308,353   485,530
    Weighted average number of shares – adjusted   46,137,344   45,854,288   46,095,727   45,787,724
    Adjusted earnings (loss) per share (7)   $0.85   $0.26   $1.17   $0.48
    (1) Comparative figures have been restated to reflect discontinued operations. Refer to Note 11 of the financial statements.
    (2) Management uses the non-GAAP occupancy costs calculated on a similar basis prior to the adoption of IFRS 16 when analyzing financial and operating performance.
    (3) Included in other operating expenses in the consolidated statements of comprehensive income (loss).
    (4) Included in employee compensation expenses in the consolidated statements of comprehensive income (loss).
    (5) (Gain) loss on investments relates to changes in the fair value of investments in partnerships.
    (6) Other non-operating and/or non-recurring (income) costs for the quarters and years ended December 31, 2024 and 2023 relate to legal, advisory, consulting, and other professional fees related to organizational and strategic initiatives. These are included in other operating expenses in the consolidated statements of comprehensive income (loss).
    (7) Refer to page 4 of the MD&A for the definition of Adjusted EPS.
    (8) For the purposes of reconciling to Adjusted Earnings (Loss), the amortization of intangibles of acquired businesses is adjusted from Profit (loss) for the period. Per the quantitative reconciliation above, we have added back depreciation of property, plant and equipment and amortization of intangibles and then deducted the depreciation of property, plant and equipment and amortization of intangibles of non-acquired businesses to arrive at the amortization of intangibles of acquired businesses.
    (9) For the purposes of reconciling to Adjusted Earnings (Loss), the interest accretion on contingent consideration payables and (gains) losses on hedging transactions and interest expense (income) on swaps is adjusted from Profit (loss) for the period. Per the quantitative reconciliation above, we have added back finance costs (income), net – other and then deducted finance costs (income), net – other prior to adjusting for interest accretion on contingent consideration payables and (gains) losses on hedging transactions and interest expense (income) on swaps.
    (10) For the purposes of reconciling to Adjusted Earnings (Loss), only the tax impacts for the reconciling items noted in the definition of Adjusted Earnings (Loss) is adjusted from profit (loss) for the period.


    Reconciliation of Free Cash Flow

    The Company proactively manages and optimizes Free Cash Flow available for reinvestment in the business. Free Cash Flow is reconciled as follows:

    Free Cash Flow Quarter ended December 31, Year ended December 31,
    In thousands of dollars   2024   2023   2024   2023
    Net cash provided by (used in) operating activities $ 24,708 $ 44,693 $ 79,920 $ 71,429
    Less: Capital Expenditures   (109)   (4,552)   (7,455)   (12,491)
    Free Cash Flow $ 24,599 $ 40,141 $ 72,465 $ 58,938


    Constant Currency

    The following tables provide a summarization of the foreign exchange rates used as presented based on the average monthly rates, and the foreign exchange rates used for Constant Currency for currencies in which the Company primarily transacts in:

      Quarter ended December 31, 2024 Year ended December 31, 2024
        As presented   For Constant Currency   As presented   For Constant Currency
    Canadian Dollar   1.000   1.000   1.000   1.000
    United States Dollar   1.399   1.361   1.370   1.349
    Pound Sterling   1.792   1.689   1.750   1.677
    Euro   1.492   1.464   1.482   1.459
    Australian Dollar   0.912   0.886   0.903   0.896
      Quarter ended December 31, 2023 Year ended December 31, 2023
        As presented   For Constant Currency   As presented   For Constant Currency
    Canadian Dollar   1.000   1.000   1.000   1.000
    United States Dollar   1.361   1.357   1.349   1.301
    Pound Sterling   1.689   1.593   1.677   1.608
    Euro   1.464   1.386   1.459   1.370
    Australian Dollar   0.886   0.892   0.896   0.903

    The MIL Network –

    February 21, 2025

  • MIL-OSI: Wintrust Financial Corporation to Present at Raymond James 46th Annual Institutional Investors Conference

    Source: GlobeNewswire (MIL-OSI)

    ROSEMONT, Ill., Feb. 20, 2025 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (“Wintrust”) (Nasdaq: WTFC) will present at the Raymond James 46th Annual Institutional Investors Conference to be held on March 2 – 5, 2025. Wintrust management will participate in a question and answer session that is scheduled to begin at 10:25 AM, Eastern Time, on March 3, 2025.

    This event will be webcast and may be accessed at https://wsw.com/webcast/rj131/wtfc/1602900 or at Wintrust’s website at www.wintrust.com, Investor Relations, Investor News and Events, Presentations and Conference Calls. Listeners should go to the website at least fifteen minutes before the presentation to download and install any necessary audio software. There is no charge to access the event. For those unable to attend the live broadcast, a replay will be available for 90 days after the conference.

    About Wintrust

    Wintrust is a financial holding company with approximately $65 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges.

    FOR MORE INFORMATION CONTACT:
    Timothy S. Crane, President & Chief Executive Officer
    David A. Dykstra, Vice Chairman & Chief Operating Officer
    (847) 939-9000
    Website address: www.wintrust.com

    The MIL Network –

    February 21, 2025

  • MIL-OSI USA: NASA Invites Media to Simulated Mars Habitat Before Next Mission

    Source: NASA

    Media are invited to visit NASA’s simulated Mars habitat on Monday, March 10, at the agency’s Johnson Space Center in Houston. The simulation will help prepare humanity for future missions to the Red Planet.
    This is the second of three missions as part of NASA’s CHAPEA (Crew Health and Performance Exploration Analog), set to begin in May 2025 when volunteer crew members enter the 3D printed habitat to live and work for a year.
    During the mission, crew members will carry out different types of mission activities, including simulated “marswalks,” robotic operations, habitat maintenance, personal hygiene, exercise, and crop growth. Crew also will face planned environmental stressors such as resource limitations, isolation, and equipment failure.
    The in-person media event includes an opportunity to speak with subject matter experts and capture b-roll and photos inside the habitat. Crew members will arrive for training at a later date and will not be available at this event.
    To attend the event, U.S. media must request accreditation by 5 p.m. CDT Monday, March 3, and international media by 5 p.m., Monday, Feb. 24, via the NASA Johnson newsroom at: 281-483-5111 or jsccommu@nasa.gov. Media accreditation will be limited due to limited space inside the habitat. Confirmed media will receive additional details on how to participate.
    For more information about CHAPEA, visit:
    https://www.nasa.gov/humans-in-space/chapea
    -end-
    Cindy Anderson / James GannonHeadquarters, Washington202-358-1600cindy.anderson@nasa.gov / james.h.gannon@nasa.gov
    Kelsey SpiveyJohnson Space Center, Houston281-483-5111kelsey.m.spivey@nasa.gov
    Victoria SegoviaJohnson Space Center, Houston281-483-5111victoria.segovia@nasa.gov

    MIL OSI USA News –

    February 21, 2025

  • MIL-OSI Security: Dartmouth — Statement from Assistant Commissioner Dennis Daley, Commanding Officer, Nova Scotia RCMP, in response to RCMP member charged with breaking and entering and mischief

    Source: Royal Canadian Mounted Police

    Earlier today, the Serious Incident Response Team (SiRT) charged one of our members, Cst. Sara Bennett, with breaking and entering and mischief in relation to incidents involving a man known to her.

    The RCMP takes all allegations of misconduct seriously; our employees are expected to conduct themselves in a manner that not only meets, but exceeds, the rightfully high expectations of Canadians.

    Cst. Bennett, who’s been an RCMP member since June 2023, is currently on administrative duties. An internal code of conduct investigation has been initiated and is ongoing. Cst. Bennett’s duty status will be continuously assessed throughout both the court and internal processes.

    Media release issued by SiRT:

    SiRT charges Nova Scotia RCMP officer with breaking and entering and mischief

    The Director of the Serious Incident Response Team (SiRT) has reasonable and probable grounds to believe that a member of the RCMP committed criminal offences in Sydney Cape Breton, relating to incidents involving the property of a male known to her.

    On December 14, 2024, Cape Breton Regional Police contacted SiRT regarding an incident involving a member of the RCMP.

    On February 20, 2025, Constable Sara Bennett was charged with breaking and entering and committing an offence contrary to s. 348(1)(b) of the Criminal Code and mischief relating to property valued over five thousand dollars contrary to s. 430(3) of the Criminal Code.

    Constable Bennett will appear before the Nova Scotia Provincial Court at 136 Charlotte Street, Sydney on February 28, 2025, at 9:30 a.m.

    As the matter is before the courts, and in consideration of the fair trial interests of the accused, SiRT will not provide further comment on the investigation.

    SiRT is responsible for investigating all matters that involve death, serious injury, sexual assault and intimate partner violence or other matters of public interest that may have arisen from the actions of any police officer in Nova Scotia and New Brunswick.

    Investigations are under the direction and control of an independent civilian director, who has the sole authority to determine if charges should be laid at the conclusion of an investigation.

    MIL Security OSI –

    February 21, 2025
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