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Category: Business

  • MIL-OSI Banking: Secretary-General of ASEAN receives the Permanent Representative of Viet Nam to ASEAN

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received the Permanent Representative of Viet Nam to ASEAN, H.E. Ambassador Dr. Ton Thi Ngoc Huong, at the ASEAN Headquarters/ASEAN Secretariat. Their discussion underscored Viet Nam’s steadfast commitment to ASEAN’s shared goals, explored key regional priorities, and reaffirmed shared efforts in advancing ASEAN Community-building process. SG Dr. Kao congratulated Viet Nam for organising 2nd ASEAN Future Forum to be held in Ha Noi, Viet Nam, which he will attend.

    The post Secretary-General of ASEAN receives the Permanent Representative of Viet Nam to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN delivers remarks at the Launch of the Australia-Southeast Asia Regional Development Partnership Plan (2024-2028)

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, delivered remarks at the Launch of the Australia-Southeast Asia Regional Development Partnership Plan (2024-2028) at the ASEAN Headquarters/ASEAN Secretariat today.  SG Dr. Kao highlighted the longstanding relations between ASEAN and Australia and the continued strengthening of cooperation for over more than five decades. SG Dr. Kao welcomed the launch of the partnership plan, which will bring to fruition the priorities that both sides share as part of the ASEAN-Australia Comprehensive Strategic Partnership and Australia’s continued support for ASEAN Community building and integration.

    Download the full remarks here

    The post Secretary-General of ASEAN delivers remarks at the Launch of the Australia-Southeast Asia Regional Development Partnership Plan (2024-2028) appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI: Axi Select Celebrates Top Milestone: Trader Secures $1,000,000 in Capital Funding

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Feb. 20, 2025 (GLOBE NEWSWIRE) — Axi, a leading global provider of online trading services, has proudly announced that trader Francisco Quesada Godines has reached the top milestone in its innovative capital allocation program, Axi Select, securing $1million in capital funding. This incredible achievement is a testament to the broker’s commitment to provide its Axi Select traders with a real opportunity to maximise their trading potential.

    According to Greg Rubin, Head of Axi Select, “Francisco, has demonstrated exceptional talent and commitment to the program. This milestone extends far beyond receiving $1million in funding. It not only highlights what traders can achieve when they trade consistently and can seize market opportunities to their advantage, but it also underscores the power of an all-inclusive, trader-centric program designed to unlock traders’ full potential.”

    “We are incredibly excited for this milestone–a testament to the hard work and dedication of our traders” said Rajesh Yohannan, CEO of Axi, as he shares his pride in their unique program. “When we launched Axi Select in 2023, our aim was clear: we wanted to change the narrative by creating a model that meets traders’ demands; when traders are free from upfront costs, restrictive trading conditions, and other barriers, they can focus exclusively on sharpening their trading performance. Indeed, our experience over the past year has demonstrated that, when a program is geared towards harnessing traders’ full potential, they can achieve remarkable results.”

    Axi Select offers ambitious traders a pathway to access capital funding up to $1,000,000 USD and earn up to 90% of their profits, as well as the advantage to join the program with zero registration or monthly fees*. Moreover, Axi Select uses a Standard or a Pro live account, unrestrictive trading conditions, and a suite of tools to nurture traders’ success and growth.

    *Standard trading fees apply.

    The Axi Select program is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service.

    For more information contact : mediaenquiries@axi.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e3372dba-9460-4833-8180-ff68d3c17652

    The MIL Network –

  • MIL-OSI: UnitedLex Bolsters European Footprint with Key Strategic Hires in IP and Legal Ops

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) — UnitedLex, a leading tech-enabled legal services company specializing in litigation, intellectual property, contracts, legal operations, and incident response, has strengthened its presence in Europe with the addition of two key hires in its London office: Thanasi Marinides as Vice President of IP Services and Solutions and Nicholas Robinson Cronjager as Vice President of Business Development, Legal Solutions.

    These appointments underscore UnitedLex’s continued investment in EMEA markets, expanding its ability to deliver high-impact, tech-enabled legal services that help clients mitigate risk, drive revenue, and optimize business investment.

    Marinides brings nearly 20 years of experience helping corporations and law firms optimize processes, reduce costs, and enhance the value of their intellectual property. As the founder of AI patent licensing platform Cintian, he is a recognized thought leader in AI’s impact on legal workflows, advising multinational clients on IP operations and monetization. Previously, he served as Regional Director, EMEA, at CPA Global and Sales and Marketing Director at Novagraaf, where he supported corporate development and built teams to support IP services. At UnitedLex, Marinides will lead initiatives to improve client outcomes through innovative, collaborative solutions.

    Robinson Cronjager, a recognized leader in legal technology, cybersecurity, and AI solutions, joins UnitedLex as Vice President of Business Development, Legal Solutions, with a focus on driving strategic initiatives and solutions across litigation, contracts, outside counsel management, insider risk, and legal operations. Prior to joining UnitedLex, he was Global Director of Legal Solutions at SessionGuardian, where he led global go-to-market strategy. He has also held EMEA leadership and solutions roles at Onit, Thomson Reuters and Mitratech, driving new client growth, securing major enterprise clients and delivering complex legal solutions across the UK, Europe, and Middle East.

    Their arrivals follow the recent addition of Lesley Hobbs as Director of Client Account Management in the company’s London office. Widely regarded as one of the leading client relationship professionals in both the APAC and UK in-house legal community, Hobbs will be instrumental in expanding UnitedLex’s relationships with corporate legal teams and driving client engagement in the region.

    “The expansion of our European team with these key hires reflects our deep commitment to client service and forming lasting partnerships that help clients tackle today’s legal challenges with confidence,” said Raj Boer, Chief Client Officer at UnitedLex. “Thanasi, Nicholas, and Lesley bring exceptional expertise and leadership that will not only strengthen our capabilities but also enhance the way we collaborate with clients—delivering innovative solutions that drive meaningful business impact.”

    UnitedLex continues to enhance its global capabilities through strategic hires and collaborative solutions that achieve value and drive momentum—empowering legal teams to deliver bottom-line growth.

    About UnitedLex
    UnitedLex is the preeminent business partner for legal delivering services that achieve value and drive growth for corporate legal departments and law firms in the areas of litigation and investigations, intellectual property, legal operations, and incident response.

    Founded in 2006, we co-create solutions that mitigate risk, drive revenue, and optimize business investment—transforming the legal function into a catalyst for success. Our team of 3,000+ legal and business professionals, data analysts, technologists, and engineers supports our clients from operational centers around the world.

    Press Inquiries:
    Susan Hammann
    Director, Strategic Communications
    press@unitedlex.com

    The MIL Network –

  • MIL-OSI: cBrain reports EBT of 32% and raises payout ratio to 20%

    Source: GlobeNewswire (MIL-OSI)

     

    Company Announcement no. 03/2025

    cBrain reports EBT of 32% and raises payout ratio to 20%

    Copenhagen, February 20, 2025

    cBrain (NASDAQ: CBRAIN) reports revenue grew by +12% to DKK 268m in 2024, up from DKK 239m in 2023, aligning with the expected revenue growth range of 12-13%.

    Software revenue is 78% of total revenue, while implementation and support services account for 22% of total revenue. Software subscriptions, the majority based on long-term contracts with Danish government customers, account for more than 50 % of the total revenue.

    Earnings before tax (EBT) grew to DKK 86m in 2024, up from DKK 81m in 2023, thereby reaching an EBT margin of 32%. EBT is therefore at the expected EBT margin of 30-32%.

    Due to faster-than-expected global industry changes as well as market uncertainties in the US and Germany, cBrain has held back some of the planned market investments in 2024. This has resulted in costs being lower than expected.

    The results show a strong positive cash flow from operating activities. This enables an increase in dividends and investments in the growth of the company and at the same time reduces long-term loans on cBrain-owned buildings.

    cBrain does not have a share buyback program. However, due to solid earnings, cBrain proposes to raise dividends to DKK 0,64 per share (2023: DKK 0,28 per share) corresponding to a payout ratio of approx. 20% of profit for the year.

    Executing the growth plan
    In 2022, cBrain announced its 2023-2025 growth plan with the goal of consolidating the business model and preparing for long-term growth by positioning itself as a supplier of climate software for government and developing a partner model.

    During the past two years, cBrain has executed this plan and during 2023 and 2024, cBrain has grown, initiated partnerships, and delivered solid results, growing revenue by +42% and growing EBT by +76%.

    The growth plan assumes that government organizations over time will switch from relying on custom-built solutions and best-of-breed architectures to using standard software. The government IT industry is massive and dominated by large suppliers who benefit from consultancy fees and billable hours. This creates significant entry barriers as the classic vendors defend their business, and the growth plan therefore anticipates a long and slow transition to standard software.

    The COTS for government seem to emerge faster than anticipated
    Contrary to these assumptions, cBrain now sees indications that industry shifts toward standard software and platforms are occurring faster than anticipated. Fueled by a lack of skilled IT resources and a growing demand for fast delivery, cBrain sees a rapidly emerging IT industry, referred to as Commercial Off-The-Shelf (COTS) for government. For cBrain, this presents new strategic opportunities.

    COTS for government, leveraging new technologies and platforms such as the F2 Digital Platform, enables digital transformation at higher speed and lower costs that outperform traditional IT modernization.

    For example, cBrain delivered a complete end-to-end digital platform for two new Danish ministries within just three weeks during the autumn of 2024, and in 2025 cBrain has just announced a third new Danish ministry, following a similar fast-track implementation schedule. Traditionally, projects of this nature take years and often fail. The Danish ministerial cases thereby exemplify the power of the COTS for government approach.

    cBrain has a first-mover advantage
    The long-term cBrain growth strategy is founded on a vision and a business case to provide standard software for government. Over the past 15 years, cBrain has invested more than 450,000 hours in developing the F2 platform. Danish ministries and a total of more than 75 Danish authorities use F2 as their digital platform. Internationally cBrain has delivered F2 for government organizations across five continents.

    With a solid first-mover advantage and a strong customer base, cBrain is well-positioned to become a leading international software provider of COTS for government solutions.

    During the year 2024, the accelerated market shift and the power of the COTS for government approaches have opened new opportunities for cBrain. This is exemplified by the recent collaboration between cBrain and UNDP in Africa to support the UNDP Digital Offer for Africa strategy, and larger orders in Romania helping to modernize traditional mainframe-type solutions.

    Reiterating the international growth strategy
    The faster-than-expected market shift, with government looking toward IT modernization and digitization based on the alternative COTS for government approach, clearly represents an incredibly positive development for cBrain.

    cBrain wants to fully take advantage of this, and a solid business with strong cash flow and earnings offer strategic flexibility. Consequently, cBrain is now reiterating and potentially adjusting its international growth strategy.

    This includes evaluating organizational readiness, as well as market and product development strategies, to leverage and maximize the benefits of accelerated industry changes. With the goal of being an internationally leading vendor in the emerging COTS for government industry, cBrain will execute several changes to the growth plan during the spring of 2025.

    Driving international expansion
    With the current Danish customer base, cBrain has a strong home market position. Internationally this is an important reference position, and cBrain intends to maintain and develop a strong position on the Danish market.

    However, to be a leader in the COTS for government industry and fully deploy the potential of the new emerging industry, cBrain will direct more resources into its international business.

    cBrain has built its international business based on organic growth, building the business by addressing international customers directly or in collaboration with local partners. This strategy is maintained, but with an increased focus on working with international partners.

    As of today, over one-third of the total revenue is export. cBrain is currently reiterating and potentially adjusting its international growth strategy with a goal, that within a few years, the international revenue will be significantly larger than the Danish revenue.

    Lifting the business
    During the past two years, cBrain has built a pipeline of potential customers, which are significantly larger than the average Danish customer. This includes projects in Germany and the US, as well as projects in the Emirates, India, Kenya, and Romania.

    For cBrain to be a leader in the COTS for government industry, it is key to building an international business. Backed by a solid financial position, cBrain is therefore shifting a focus to international opportunities. This shift involves changes across the cBrain internal organization, from marketing and sales to delivery and R&D.

    cBrain announced the growth plan in 2022 with an ambition to reach a revenue of 350 million in the year 2025. cBrain continues to execute its growth plan. However, reaching the revenue ambition requires winning and delivering some of the large international contracts cBrain is currently working on.

    cBrain guides continued growth in revenue and solid earnings for 2025
    With limited visibility, cBrain forecasts expected revenue growth in 2025 of 10-15% and earnings before tax (EBT) of 18-23%.

    The earnings forecast is based on solid market development investments into international growth, across the African region, USA, Germany, and India, as well as investments into developing the F2-for-Partners concept.

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to 

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachments

    The MIL Network –

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q4-24 and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Q4-24 Revenue of € 153.4 Million and Net Income of € 59.3 Million. Operating Results Within Prior Guidance

    FY-24 Revenue of € 607.5 Million and Net Income of € 182.0 Million Up 4.9% and 2.8%, Respectively, vs. FY-23. Orders of € 586.7 Million Up 7.0% vs. FY-23

    Proposed Dividend of € 2.18 per Share for Fiscal 2024. 95% Pay-Out Ratio

    DUIVEN, the Netherlands, Feb. 20, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the fourth quarter and year ended December 31, 2024.

    Key Highlights Q4-24

    • Revenue of € 153.4 million down 2.0% vs. Q3-24 and 3.9% vs. Q4-23 primarily due to lower demand for automotive applications partially offset by increased hybrid bonding shipments
    • Orders of € 121.9 million down 19.7% vs. Q3-24 and 26.7% vs. Q4-23 due primarily to decreased bookings for high performance computing and mainstream assembly applications
    • Gross margin of 64.0% decreased by 0.7 points vs. Q3-24 and 1.1 points vs. Q4-23 primarily due to adverse net forex influences
    • Net income of € 59.3 million increased 26.7% vs. Q3-24 and 8.0% vs. Q4-23 due to € 18.2 million of net tax benefits realized. As a result, net margin rose to 38.6% vs. 29.9% in Q3-24 and 34.4% in Q4-23
    • Cash and deposits of € 672.3 million at year-end increased 62.6% versus year-end 2023. Net cash of € 143.8 million increased € 33.1 million (29.9%) vs. Q3-24 and € 30.8 million (27.3%) vs. Q4-23

    Key Highlights FY 2024

    • Revenue of € 607.5 million increased 4.9% vs. 2023 principally due to higher demand by computing end-user markets, particularly for hybrid bonding and photonics applications, partially offset by weakness in mobile, automotive and Chinese end-user markets
    • Orders of € 586.7 million rose 7.0% due to strength in 2.5D and 3D AI-related applications
    • Gross margin of 65.2% rose by 0.3 points due to more favorable advanced packaging product mix
    • Net income of € 182.0 million grew 2.8% as higher revenue, gross margin and net tax benefits were partially offset by higher R&D spending and share-based compensation expense. Besi’s net margin decreased slightly to 30.0% vs. 30.6% in 2023
    • Proposed dividend of € 2.18 per share. Represents pay-out ratio of 95%

    Q1-25 Outlook

    • Revenue expected to decrease 0-10% vs. the € 153.4 million reported in Q4-24
    • Gross margin expected to range between 63-65% vs. the 64.0% realized in Q4-24
    • Operating expenses expected to grow 10-20% vs. the € 47.6 million reported in Q4-24
    (€ millions, except EPS) Q4-2024   Q3-2024   Δ Q4-2023  

    Δ

    		 FY-2024   FY-2023   Δ
    Revenue 153.4   156.6   -2.0 % 159.6   -3.9 % 607.5   578.9   +4.9 %
    Orders 121.9   151.8   -19.7 % 166.4   -26.7 % 586.7   548.3   +7.0 %
    Gross Margin 64.0%   64.7%   -0.7   65.1%   -1.1   65.2%   64.9%   +0.3  
    Operating Income 50.6   55.1   -8.2 % 66.1   -23.4 % 195.6   213.4   -8.3 %
    EBITDA 58.0   62.4   -7.1 % 72.7   -20.2 % 224.2   239.1   -6.2 %
    Net Income* 59.3   46.8   +26.7 % 54.9   +8.0 % 182.0   177.1   +2.8 %
    Net Margin* 38.6%   29.9%   +8.7   34.4%   +4.2   30.0%   30.6%   -0.6  
    EPS (basic) 0.75   0.59   +27.1 % 0.71   +5.6 % 2.31   2.28   +1.3 %
    EPS (diluted) 0.74   0.59   +25.4 % 0.68   +8.8 % 2.30   2.23   +3.1 %
    Net Cash and Deposits 143.8   110.7   +29.9 % 113.0   +27.3 % 143.8   113.0   +27.3 %

    * Includes net tax benefit of € 18.2 million in Q4-24 versus a tax charge of € 2.3 million in Q4-23.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:

    “Besi’s business development in 2024 reflected contrasting growth trends for AI and mainstream assembly equipment markets. For the year, revenue grew by approximately 5% to reach € 607.5 million due to significantly higher demand by computing end-user markets, particularly for AI-related hybrid bonding and photonics applications. Similarly, orders of € 586.7 million increased by 7.0%. As a result, orders for AI applications grew to represent approximately 50% of our total orders in 2024. Strong order growth from computing end-user markets this year was partly offset by unfavorable market conditions for mainstream applications related to an industry downturn more than two years in duration.

    “We continue to navigate an extended downturn at industry leading levels of profitability. Besi achieved gross, operating and net margins of 65.2%, 32.2% and 30.0%, respectively, in 2024. Gross margins increased slightly versus 2023 due to a more favorable advanced packaging product mix which were partially offset by unfavorable net forex effects, particularly in the second half of the year. Net income rose 2.8% versus 2023 primarily due to higher revenue and gross margins realized and a net tax benefit of € 18.2 million. Such favorable influences were partially offset by a significant increase in development spending and higher share-based compensation expense. Given profits earned in 2024 and our solid liquidity position, we will propose a cash dividend of € 2.18 per share for approval at Besi’s 2025 AGM which represents a pay-out ratio relative to net income of 95%.

    “Investments in Besi’s future growth continued in 2024 as reflected in higher development spending and a planned expansion of our advanced packaging production capacity in 2025. We increased R&D spending by 31.7% this year to offer customers leading edge assembly solutions for next generation 2.5D and 3D architectures. In addition, progress continued on our hybrid bonding agenda as revenue approximately tripled versus 2023 and orders more than doubled. In addition, adoption increased from nine to fifteen customers. During Q4-24, some notable hybrid bonding bookings included a first order from a Japanese semiconductor producer focused on 2nm advanced logic semiconductors and from a Korean IDM for advanced logic applications.

    “Besi’s fourth quarter results were adversely affected by ongoing weakness in mainstream assembly markets, seasonal influences and lower demand for hybrid bonding and photonics applications as customers digested capacity added in 2024. Revenue of € 153.4 million was down 2.0% vs. Q3-24 and 3.9% vs. Q4-23 primarily due to lower demand for automotive applications partially offset by increased hybrid bonding shipments. Orders of € 121.9 million decreased by 19.7% vs. Q3-24 and 26.7% vs. Q4-23 due to lower bookings for hybrid bonding, photonics and mainstream assembly applications. Hybrid bonding and photonics orders have fluctuated on a quarterly basis due to the timing by customers of new device introductions and related capacity additions for these emerging applications. Our operating income in Q4-24 decreased by 8.2% versus Q3-24 primarily due to lower revenue and a 0.7 point gross margin decrease from adverse forex movements. Q4-24 net income of € 59.3 million increased 26.7% vs. Q3-24 and 8.0% vs. Q4-23 due to net tax benefits realized from an upward revaluation of deferred tax assets.

    “We enter the year 2025 with cautious optimism based on strong momentum in our advanced die placement solutions for AI applications partially offset by ongoing weakness in mainstream automotive, smart phone, industrial and Chinese end-user markets. We believe that the pace of innovation is increasing as the pandemic and generative AI have accelerated society’s move to a digital world with AI technology adoption increasing significantly in our daily lives. We believe that the commercial viability of hybrid bonding process technology has now been confirmed by some of the industry’s leading players and research institutes. Significant incremental adoption is anticipated to occur over the next three years as the technology is increasingly used in HBM 4/5 memory stacks, ASIC logic devices, silicon photonics, co-packaged optics and consumer mobile/computing applications. As such, we estimate that hybrid bonding adoption and deployment is still in its very early stages.

    “The timing and trajectory of a new mainstream assembly upturn is difficult to predict at present. The assembly market still suffers from post-pandemic excess capacity which has taken more than two years to approach equilibrium levels. Semiconductor unit growth and capacity utilization rates have improved since 2022 but at a less rapid rate than previously anticipated by analysts. That being said, we believe it likely that a mainstream assembly recovery will begin in the second half of 2025. Its trajectory will depend on demand trends in each of our end markets and the ultimate course of global trade restrictions. For Q1-25, we forecast that revenue will decrease by 0-10% versus Q4-24 and for gross margins to remain in a range of 63-65% based on our projected product mix. Aggregate operating expenses are forecast to rise 10-20% versus Q4-24 primarily due to higher strategic consulting costs.”

    Share Repurchase Activity

    During the quarter, Besi repurchased approximately 0.2 million of its ordinary shares at an average price of € 112.84 per share or a total of € 22.4 million. For the year, Besi repurchased approximately 0.6 million shares at an average price of € 125.53 per share for a total of € 79.8 million. At year end, Besi held approximately 1.8 million shares in treasury equal to 2.3% of its shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EST). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.
    Important Dates

    • Publication Annual Report 2024
    • Publication Q1 results
    • Annual General Meeting of Shareholders
    • Publication Q2/semi-annual results
    • Publication Q3/nine-month results
    • Publication Q4/full year results
    		 February 28, 2025

    April 23, 2025

    April 23, 2025

    July 24, 2025

    October 23, 2025

    February 2026
    Dividend Information*

    • Proposed ex-dividend date
    • Proposed record date
    • Proposed payment of 2024 dividend
    		 April 25, 2025

    April 28, 2025

    Starting May 2, 2025
    * Subject to approval at Besi’s AGM on April 23, 2025 

    Basis of Presentation

    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which will be available on www.besi.com as of February 28, 2025.

    Contacts
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance        
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Tel. (31) 26 319 4500                
    investor.relations@besi.com   

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Statement of Compliance
    The accounting policies applied in the condensed consolidated financial statements included in this press release are the same as those applied in the Annual Report 2024 and were authorized for issuance by the Board of Management and Supervisory Board on February 19, 2025. In accordance with Article 393, Title 9, Book 2 of the Netherlands Civil Code, EY Accountants BV has issued an unqualified auditor’s opinion on the Annual Report 2024. The Annual Report 2024 will be published on our website on February 28, 2025 and proposed for adoption by the Annual General Meeting on April 23, 2025. The condensed financial statements included in this press release have been prepared in accordance with IFRS Accounting Standards, as adopted by the European Union but do not include all of the information required for a complete set of IFRS financial statements.

    Caution Concerning Forward-Looking Statements

    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers; those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
    (€ thousands, except share and per share data) Three Months Ended
    December 31,
    (unaudited)    		 Year Ended
    December 31,
    (audited)
      2024   2023 2024 2023
             
    Revenue 153,413   159,635 607,473 578,862
    Cost of sales 55,253   55,700 211,529 203,074
             
    Gross profit 98,160   103,935 395,944 375,788
             
    Selling, general and administrative expenses 28,575   24,277 126,048 105,956
    Research and development         expenses 19,009   13,533 74,305 56,440
             
    Total operating expenses 47,584   37,810 200,353 162,396
             
    Operating income 50,576   66,125 195,591 213,392
             
    Financial expense, net 3,877   729 7,071 5,703
             
    Income before taxes 46,699   65,396 188,520 207,689
             
    Income tax expense (benefit) (12,595 ) 10,501 6,528 30,605
             
    Net income 59,294   54,895 181,992 177,084
             
    Net income per share – basic 0.75   0.71 2.31 2.28
    Net income per share – diluted 0.74   0.68 2.30 2.23
               
    Number of shares used in computing per share amounts:
    – basic
    – diluted 1    		 79,402,192
    81,628,947    		   77,070,082
    82,091,299    		 78,877,471
    81,889,907    		 77,508,722
    82,800,279
     1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding     
               
    Consolidated Balance Sheets
    (€ thousands) December
    31, 2024
    (audited)    		 September 30, 2024
    (unaudited)    		 June
    30, 2024
    (unaudited)    		 March
    31, 2024
    (unaudited)    		 December
    31, 2023
    (audited)
    ASSETS          
               
    Cash and cash equivalents 342,319 307,448 127,234 232,053 188,477
    Deposits 330,000 330,000 130,000 215,000 225,000
    Trade receivables 181,862 169,266 174,601 150,192 143,218
    Inventories 103,285 104,103 99,291 99,384 92,505
    Other current assets 40,927 44,731 36,346 34,756 39,092
               
    Total current assets 998,393 955,548 567,472 731,385 688,292
               
    Property, plant and equipment 44,773 44,220 43,571 41,328 37,516
    Right of use assets 15,726 16,419 16,821 16,901 18,242
    Goodwill 46,010 45,278 45,710 45,613 45,402
    Other intangible assets 96,677 94,855 92,627 90,241 93,668
    Deferred tax assets 31,567 8,610 9,517 11,444 12,217
    Other non-current assets 1,330 1,316 1,239 1,252 1,216
               
    Total non-current assets 236,083 210,698 209,485 206,779 208,261
               
    Total assets 1,234,476 1,166,246 776,957 938,164 896,553
               
               
               
    Bank overdraft 776 – – – –
    Current portion of long-term debt 2,042 2,241 3,033 984 3,144
    Trade payables 52,630 49,211 51,620 52,382 46,889
    Other current liabilities 111,531 87,739 73,023 100,606 87,200
               
    Total current liabilities 166,979 139,191 127,676 153,972 137,233
               
    Long-term debt 525,653 524,527 179,801 265,142 297,353
    Lease liabilities 12,350 13,033 13,448 13,625 14,924
    Deferred tax liabilities 10,320 11,619 10,396 12,136 12,959
    Other non-current liabilities 17,910 12,449 11,352 12,914 12,671
               
    Total non-current liabilities 566,233 561,628 214,997 303,817 337,907
               
    Total equity 501,264 465,427 434,284 480,375 421,413
               
    Total liabilities and equity 1,234,476 1,166,246 776,957 938,164 896,553
    Consolidated Cash Flow Statements
    (€ thousands) Three Months Ended
    December 31,
    (unaudited)    		 Year Ended
    December 31,
    (audited)
      2024   2023   2024   2023  
             
    Cash flows from operating activities:        
    Income before income tax 46,699   65,396   188,520   207,689  
             
    Depreciation and amortization 7,420   6,577   28,601   25,732  
    Share based payment expense 2,851   2,807   30,067   19,107  
    Financial expense, net 3,877   729   7,071   5,703  
             
    Changes in working capital 4,819   (24,238 ) (39,095 ) (26,819 )
    Interest (paid) received 1,965   1,647   9,183   4,722  
    Income tax (paid) received (3,751 ) 386   (23,264 ) (27,562 )
             
    Net cash provided by operating activities 63,880   53,304   201,083   208,572  
             
    Cash flows from investing activities:        
    Capital expenditures (1,074 ) (1,451 ) (12,039 ) (6,899 )
    Capitalized development expenses (5,447 ) (5,780 ) (19,437 ) (21,121 )
    Repayments of (investments in) deposits –   (39,659 ) (105,000 ) (44,927 )
             
    Net cash provided by (used in) investing activities (6,521 ) (46,890 ) (136,476 ) (72,947 )
             
    Cash flows from financing activities:        
    Proceeds from bank lines of credit 776   –   776   –  
    Proceeds from notes –   –   350,000   –  
    Transaction costs related to notes                 (29 ) –   (6,424 ) –  
    Payments of lease liabilities (1,128 ) (1,100 ) (4,314 ) (4,307 )
    Purchase of treasury shares (22,415 ) (23,123 ) (79,833 ) (213,387 )
    Dividends paid to shareholders –   –   (171,534 ) (222,109 )
             
    Net cash used in financing activities (22,796 ) (24,223 ) 88,671   (439,803 )
             
    Net increase (decrease) in cash and cash equivalents

    34,563

    		  

    (17,809

    )

    153,278

    		  

    (304,178

    )
    Effect of changes in exchange rates on cash and
    cash equivalents

    308

    		  

    1,261

    		  

    564

    		  

    969

    		  
    Cash and cash equivalents at beginning of the
    period

    307,448

    		  

    205,025

    		  

    188,477

    		  

    491,686

    		  
             
    Cash and cash equivalents at end of the period 342,319   188,477   342,319   188,477  
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
                                     
    REVENUE Q4-2024 Q3-2024 Q2-2024 Q1-2024 Q4-2023 Q3-2023 Q2-2023 Q1-2023
                                     
    Per geography:                                
    China 42.8   28 % 45.5   29 % 57.5   38 % 58.5   40 % 62.0   39 % 40.8   33 % 64.9   40 % 37.6   28 %
    Asia Pacific (excl. China) 53.5   35 % 51.6   33 % 54.1   36 % 43.6   30 % 57.9   36 % 42.3   34 % 59.2   36 % 58.2   44 %
    EU / USA / Other 57.1   37 % 59.5   38 % 39.6   26 % 44.2   30 % 39.7   25 % 40.2   33 % 38.4   24 % 37.6   28 %
                                                     
    Total 153.4   100 % 156.6   100 % 151.2   100 % 146.3   100 % 159.6   100 % 123.3   100 % 162.5   100 % 133.4   100 %
                                     
    ORDERS Q4-2024 Q3-2024 Q2-2024 Q1-2024 Q4-2023 Q3-2023 Q2-2023 Q1-2023
                                     
    Per geography:                                
    China 40.4   33 % 45.4   30 % 43.3   23 % 51.1   40 % 71.1   43 % 46.0   36 % 51.4   46 % 35.5   25 %
    Asia Pacific (excl. China) 38.8   32 % 69.3   46 % 72.0   39 % 45.0   35 % 36.6   22 % 40.9   32 % 33.2   29 % 71.3   50 %
    EU / USA / Other 42.7   35 % 37.1   24 % 69.9   38 % 31.6   25 % 58.7   35 % 40.4   32 % 28.0   25 % 35.2   25 %
                                                     
    Total 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 % 166.4   100 % 127.3   100 % 112.6   100 % 142.0   100 %
                                     
    Per customer type:                                
    IDM 61.2   50 % 84.5   56 % 122.4   66 % 53.5   42 % 82.7   50 % 70.5   55 % 60.5   54 % 74.0   52 %
    Foundries/Subcontractors* 60.7   50 % 67.3   44 % 62.8   34 % 74.2   58 % 83.7   50 % 56.8   45 % 52.1   46 % 68.0   48 %
                                                     
    Total 121.9   100 % 151.8   100 % 185.2   100 % 127.7   100 % 166.4   100 % 127.3   100 % 112.6   100 % 142.0   100 %
    * Includes foundries as of financial year 2024                                
                                     
    HEADCOUNT Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023
                                     
    Fixed staff (FTE) 1,812   93 % 1,807   87 % 1,783   86 % 1,760   88 % 1,736   93 % 1,725   87 % 1,689   86 % 1,682   84 %
    Temporary staff (FTE) 134   7 % 271   13 % 279   14 % 236   12 % 134   7 % 248   13 % 279   14 % 312   16 %
                                                     
    Total 1,946   100 % 2,078   100 % 2,062   100 % 1,996   100 % 1,870   100 % 1,973   100 % 1,968   100 % 1,994   100 %
                                     
    OTHER FINANCIAL DATA Q4-2024 Q3-2024 Q2-2024 Q1-2024 Q4-2023 Q3-2023 Q2-2023 Q1-2023
                                     
    Gross profit 98.2   64.0 % 101.2   64.7 % 98.3   65.0 % 98.3   67.2 % 103.9   65.1 % 79.6   64.6 % 106.6   65.6 % 85.7   64.2 %
                                     
                                     
    Selling, general and admin expenses:                                
    As reported 28.6   18.6 % 27.3   17.4 % 30.5   20.2 % 39.6   27.1 % 24.3   15.2 % 23.3   18.9 % 29.4   18.1 % 29.0   21.7 %
    Share-based compensation expense -2.9   -1.8 % (3.4 ) -2.1 % (6.9 ) -4.6 % (16.9 ) -11.6 % (2.8 ) -1.7 % (1.6 ) -1.3 % (5.5 ) -3.4 % (9.3 ) -7.0 %
                                                     
    SG&A expenses as adjusted 25.7   16.8 % 23.9   15.3 % 23.6   15.6 % 22.7   15.5 % 21.5   13.5 % 21.7   17.6 % 23.9   14.7 % 19.7   14.8 %
                                     
                                     
    Research and development expenses:                                
    As reported 19.0   12.4 % 18.9   12.1 % 18.5   12.2 % 17.9   12.2 % 13.5   8.5 % 13.6   11.0 % 14.3   8.8 % 15.0   11.2 %
    Capitalization of R&D charges 5.4   3.5 % 4.4   2.8 % 4.9   3.2 % 4.7   3.2 % 5.7   3.6 % 4.7   3.8 % 5.3   3.3 % 5.4   4.0 %
    Amortization of intangibles -3.9   -2.5 % (3.9 ) -2.5 % (3.6 ) -2.3 % (3.6 ) -2.4 % (3.3 ) -2.1 % (3.3 ) -2.6 % (3.5 ) -2.2 % (3.5 ) -2.6 %
                                                     
    R&D expenses as adjusted 20.5   13.4 % 19.4   12.4 % 19.8   13.1 % 19.0   13.0 % 15.9   10.0 % 15.0   12.2 % 16.1   9.9 % 16.9   12.7 %
                                     
                                     
    Financial expense (income), net:                                
    Interest income -5.1     (5.2 )   (3.0 )   (4.0 )   (3.6 )   (2.9 )   (3.1 )   (2.6 )  
    Interest expense 6.1     5.7     2.1     2.8     3.0     2.8     2.9     2.9    
    Net cost of hedging 2.0     1.9     1.4     1.6     1.7     1.7     2.0     1.6    
    Foreign exchange effects, net 0.9     (0.8 )   0.5     0.2     (0.4 )   0.2     (0.1 )   (0.4 )  
                                                     
    Total 3.9     1.6     1.0     0.6     0.7     1.8     1.7     1.5    
                                     
    Gross cash 672.3     637.4     257.2     447.1     413.5     391.2     378.3     644.9    
                                     
                                     
    Operating income (as % of net sales) 50.6   33.0 % 55.1   35.2 % 49.3   32.6 % 40.7   27.8 % 66.1   41.4 % 42.7   34.6 % 62.9   38.7 % 41.7   31.3 %
                                     
    EBITDA (as % of net sales) 58.0   37.8 % 62.4   39.8 % 56.2   37.2 % 47.5   32.5 % 72.7   45.6 % 48.9   39.7 % 69.3   42.6 % 48.2   36.1 %
                                     
    Net income (as % of net sales) 59.3   38.6 % 46.8   29.9 % 41.9   27.7 % 34.0   23.2 % 54.9   34.4 % 35.0   28.4 % 52.6   32.4 % 34.5   25.9 %
                                     
    Effective tax rate -27.0 %   12.6 %   13.0 %   15.3 %   16.1 %   14.4 %   14.0 %   14.0 %  
                                     
                                     
    Income per share                                
    Basic 0.75     0.59     0.53     0.44     0.71     0.45     0.68     0.44    
    Diluted 0.74     0.59     0.53     0.44     0.68     0.45     0.66     0.44    
                                     
    Average shares outstanding (basic) 79,402,192

    		       79,630,787       79,281,533       77,181,326       77,070,082       77,374,933       77,634,197       77,946,873      
                                     
    Shares repurchased                                
    Amount 22.4     27.8     14.8     14.8     23.1     45.5     66.9     77.7    
    Number of shares 198,450

    		       230,807       105,042       101,049       226,572       447,829       761,937       1,120,327      
                                     

    The MIL Network –

  • MIL-OSI Russia: ISI opens coworking space and interactive video studio

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Two new locations have opened at the Institute of Civil Engineering of SPbPU — the coworking space “koTworking” and the interactive video studio “Dzhalinga”. The event was attended by the management of Peter the Great St. Petersburg Polytechnic University, as well as teachers and students of the Institute of Civil Engineering. The coworking space will become a comfortable place for them to work, study and relax. The ribbon was cut by the Vice-Rector for Educational Activities of SPbPU Lyudmila Pankova and the Director of the Institute of Civil Engineering Marina Petrochenko.

    The ceremonial event was also attended by Vice-Rector for Organizational and Economic Work Stanislav Vladimirov, Vice-Rector for Information Technology Andrey Lyamin, Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov, Vice-Rector for Economics and Finance Alexander Rechinsky, Vice-Rector for Additional and Pre-University Education Dmitry Tikhonov, Acting Vice-Rector for Prospective Projects Maria Vrublevskaya, Advisor to the Rector’s Office Vladimir Glukhov, Academic Secretary of the University Dmitry Karpov, and Director of the Department of Economics and Finance Elena Vinogradova.

    The event began with a speech by the Vice-Rector for Educational Activities of SPbPU Lyudmila Pankova, who noted the need for such platforms for students: I congratulate the students of ISI on the opening of a wonderful coworking location, where you can not only relax and communicate, but also use this space for learning and implementing your ideas. I wish the institute to create more such points of attraction, where students can spend their time and joint events.

    Guys, we are happy to congratulate you on the opening of a space for rest and study. In this place, we wanted to create an atmosphere of home comfort, especially for out-of-town students who miss home. That is why cute cats greet you here, and our coworking is called “koTworking”, which means a place for joint creativity. I congratulate you and wish you creative success, – emphasized the director of the Civil Engineering Institute Marina Petrochenko.

    Coworking “koTworking” is a modern space created specifically for students of the Civil Engineering Institute. The initiative is aimed at supporting the creative potential of students in an informal, friendly atmosphere. “KoTworking” is equipped with everything necessary for productive work: comfortable work areas and cozy corners for rest are provided here. The space should become a place where students can exchange ideas, hold meetings and find inspiration for the implementation of their own ideas.

    ISI also opened a digital interactive video studio “Jalinga”. It allows you to conduct webinars for a large audience of listeners in real time, shoot video content for lectures and practical classes, conduct interviews, shoot reels in high quality, with subsequent quick processing of the resulting material without an operator and almost without editing. This significantly saves resources and time for developing online courses, and also reduces the cost of video production. The studio and software “Jalinga” allow you to independently control the filming, without resorting to the help of specialists.

    Today, the video studio is filming 15 online courses of the Master’s program “Industrial and Civil Construction” and 5 courses of the DPO programs, – noted Marina Petrochenko.

    The opening of the video studio will expand the capabilities of ISI in the field of online education. Now students and teachers will be able to prepare high-quality video materials that will make the learning process more visual and accessible.

    Photo archive

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI China: Beijing’s Shunyi accelerates high-quality development

    Source: China State Council Information Office 2

    Shunyi district in northeastern Beijing is accelerating high-quality, internationalized development.
    With 15 indicators of high-quality development in place, the district aims for an economic output of over 330 billion yuan (US$45.32 billion) and a modern service industry worth 150 billion yuan, as well as an annual trade value exceeding 200 billion yuan in its Tianzhu comprehensive bonded zone, according to local officials.
    The district has been working to become a hub for international companies and resources, as demonstrated by its Beijing China-Germany Industrial Park.
    China’s only national-level park focusing on China-Germany economic and technological cooperation, the industrial compound has attracted 118 German-funded and affiliated enterprises since its establishment three years ago, including major brands like Mercedes-Benz, BMW, and Bosch. During this period, the park registered an annual industrial output exceeding 40 billion yuan. 
    With an innovative environment and thriving entrepreneurial ecosystem, the park has been an attractive landing spot for German companies looking to expand in China. 
    The park has also forged cooperation with more than 50 institutions, such as the European Economic Senate, and hosts forums and expos to foster international collaboration.
    In addition, it has introduced commercial facilities like German-style beer houses, cafes, and convenience stores selling German goods. It has also become a venue for events such as wine and beer festivals, football tournaments, and equestrian competitions organized by the resident companies.
    The district is also leading in cross-border pharmaceutical trade.
    According to officials, 10 rare disease drugs and clinically urgent medications have been approved in Beijing. These will be purchased globally and transported through the Tianzhu bonded zone to medical institutions in the city. Rare disease medications can now be cleared through customs once and used multiple times outside the zone, ensuring continuous availability for patients.
    Moreover, rare disease patients can receive top-tier diagnosis and treatment here.
    Last year, the total trade value of the Tianzhu zone reached 123.49 billion yuan, yuan, with pharmaceutical trade accounting for 106.93 billion yuan, marking a 6.39% increase.
    Cutting-edge industries are also flourishing in the district, which has introduced public rental housing to lure top talent.
    Cui Xiaohao, the district head, announced that by 2030, the total output value of its five high-end manufacturing industries — new-energy intelligent vehicles, aerospace, third-generation semiconductors, intelligent equipment, and medical and health industries — will exceed 300 billion yuan.

    MIL OSI China News –

  • MIL-OSI China: Key firms settle in Shijingshan to boost high-tech growth

    Source: China State Council Information Office 2

    Shijingshan district in Beijing recently held an industrial development promotion conference. During the event, key enterprises in areas such as artificial intelligence and industrial internet signed agreements to settle in the district. 
    Among the 10 enterprises that signed agreements are innovative small and medium-sized enterprises focusing on cloud computing and information security, as well as high-tech enterprises involved in electronic equipment, new drug research, smart security, and data security. These companies are expected to drive the development of high-tech industries and enhance the industrial chain in Shijingshan district.
    The conference also recognized 20 companies for their outstanding contributions to the regional economy in 2024, 10 fastest-growing companies, and 10 companies with the most growth potential. 
    Chen Wei, co-founder and vice president of Yuanshan Zhineng, a company recognized as one of the 10 with the most growth potential, said that since moving into Shijingshan in 2023, his company has achieved rapid growth in the intelligent industry. He attributed this success to the district’s efforts in optimizing the business environment and providing better support for companies.
    Chang Wei, secretary of the CPC Shijingshan District Committee, spoke on the district’s focus on upgrading traditional industries, expanding emerging industries, and cultivating future industries to foster high-quality development. Looking forward, the district will continue to refine policies, improve resource allocation, and optimize service for enterprises, he said.

    MIL OSI China News –

  • MIL-OSI China: Electricity embarks on a new journey, connecting the future with an innovative industrial chain

    Source: China State Council Information Office

    On Feb 17, the staff of the State Grid Jinchang Power Supply Company supported the resumption of work and production, promoting the development of industrial chains in the coal chemical, sulfur-phosphorus chemical, and ammonia-soda chemical industries at Jinchang Chemical Park. They facilitated the upgrading of the circular economy, optimized the layout of the chemical industry across the province, and helped establish a circular chemical industry base in the western region. These initiatives have played a positive role in promoting the high-quality development of the regional economy and society.

    In strengthening the supply chain cluster and accelerating the construction of a modern industrial system, the company focuses on ensuring power supply, optimizing and upgrading services, fostering technological innovation and application, and encouraging collaboration. It provides comprehensive tracking services, establishes a dedicated power service specialist system, conducts regular visits to enterprises, resolves power consumption issues promptly, and synchronously plans the construction of power facilities, ensuring the coordinated advancement of power supply and industrial development.

    To fully establish a significant national base for nickel-cobalt nonferrous metal new materials, a supply hub for new energy batteries and battery materials, and a modern chemical industry base in the western region, the company offers “nanny-style” services. This involves assigning dedicated personnel to assist enterprises “one-on-one” throughout the entire process of handling various formalities. By simplifying business procedures and enhancing efficiency, the company aims to enable “more data to do the legwork, reducing the need for enterprises to run errands”.

    In the journey of serving the development of the new industrial economy, the State Grid Jinchang Power Supply Company always adheres to the concept of placing equal emphasis on innovation and responsibility. From the advanced layout of power facilities, to the precise customization of power supply schemes, and the 24-hour thoughtful operation and maintenance, every link is dedicated to the company’s efforts. In the future, the company will continue to use reliable power as its pen and high-quality service as its ink to draw a grand blueprint for the prosperity and development of the new industrial economy, and make continuous contributions to promoting industrial upgrading and achieving high-quality economic development.

    At the same time, the State Grid Jinchang Power Supply Company has specially organized staff to provide electricity services to enterprises, aiming to help them intuitively grasp their energy consumption situations and tailor “personalized” energy-saving solutions for them. The company conducts a comprehensive understanding of the enterprises’ power consumption capacity, electricity charges, peak and valley electricity consumption, and performs horizontal and vertical comparisons based on the enterprises’ power consumption over the past two years, subsequently proposing corresponding analysis results. It provides enterprises with a power supply “package” encompassing energy conservation, safety and other aspects, and customizes a reasonable power consumption plan according to the power load of the enterprises. Additionally, the company offers “physical examination” services for distribution facilities and electric equipment, assists in eliminating hidden dangers and promotes safety awareness, thereby helping enterprises save energy, reduce expenditure and increase efficiency, while fully ensuring the safe and stable use of electricity.

    MIL OSI China News –

  • MIL-OSI: Municipality Finance issues RON 108 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    20 February 2025 at 10:00 am (EET)

    Municipality Finance issues RON 108 million notes under its MTN programme 

    Municipality Finance Plc issues RON 108 million notes on 21 February 2025. The maturity date of the notes is 21 February 2028. The notes bear interest at a fixed rate of 6.36% per annum. 
    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 February 2025.

    Société Générale acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Municipality Finance issues SEK 1 billion notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    20 February 2025 at 10.00 am (EET)

    Municipality Finance issues SEK 1 billion notes under its MTN programme

    Municipality Finance Plc issues SEK 1 billion notes on 21 February 2025. The maturity date of the notes is 21 February 2028. The notes bear interest at a floating rate equal to 3-month Stibor plus 150 bps per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 21 February 2025.

    Danske Bank A/S act as the Dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: www.munifin.fi

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Ganda Business Solutions and Danforth Advisors Align to Streamline Growth and Market Access for Biotechs Operating in Switzerland and the United States

    Source: GlobeNewswire (MIL-OSI)

    BASEL, Switzerland and WALTHAM, Mass., Feb. 20, 2025 (GLOBE NEWSWIRE) — Ganda Business Solutions Ltd. and Danforth Advisors LLC today announced an exclusive partnership to support the business and clinical operations of Swiss biotech companies. Working jointly with localized expertise, the firms will provide integrated services to help Swiss companies scale with efficiency, expand to the US, and leverage flexible support in the areas of finance and accounting, human resources, investor relations, clinical operations, and regulatory strategy.

    The combined team encompasses more than 400 consultants specializing in life science business operations, asset development support, and commercial readiness. The firms’ breadth of experience spans 500+ active clients and more than 60 IPO and reverse merger transactions.

    “Our shared philosophy towards efficient capital allocation is reflected through our focus on providing variable and fractional support. We know that risk and uncertainty are inherent in biotech and organizational agility allows companies to remain flexible. This allows management to focus on the development activities knowing that strategic advice is on hand to help navigate the road ahead. For a majority of Swiss biotech companies, this road leads to the US, and by aligning with Danforth we can deliver both strategic guidance and well-managed operational execution,” said Christoph Rentsch, Managing Partner of Ganda Business Solutions.

    The partnership also combines both teams’ deep relationships with investors, bankers, attorneys, CROs, and other pillars of the Swiss and US ecosystems, enabling them to seamlessly support clients as they scale their operations, advance clinical programs, and launch new products.

    “Establishing a US nexus is often integral to Swiss biotechs’ strategy – whether through access to patients and payers via FDA approvals, financing from private and public investors, recruiting cohorts for clinical trials, or leveraging specialist capabilities from world leading physicians and experienced management teams. Our collaboration with Ganda gives Swiss clients assurance that they can navigate the US landscape with our well-developed strategies to de-risk execution as their operations advance,” said Michael Cunniffe, Managing Director of Danforth’s UK and European operations.

    Having supported hundreds of biotech companies over two decades, Danforth and Ganda bring unmatched experience drawn from hands-on operational management and strategic advisory at executive and board levels.

    “For a sustainable biotech growth story, the right talent and team composition play a key role, and must be aligned with the company’s vision and development goals. This talent is highly sought after and not always readily available,” said Catherine Ammann, Managing Partner of Ganda Business Solutions. “Through our partnership with Danforth, we can provide access to valuable skill sets where full time roles might be cost-prohibitive or difficult to fill.”

    About Ganda Solutions
    Ganda is a Professional Service Provider covering all General and Administration (G&A) tasks in the life science field. Ganda’s team of professionals has extensive industry experience at various leadership levels both in strategic and operational matters – within small and large organizations. Ganda operates from its Basel base and offers full support in English, German and French. Additional information is available at www.ganda-solutions.com.

    About Danforth Advisors
    Danforth is the life science industry’s trusted partner for strategic and operational support across business, clinical, and commercial functions. The company advises and executes in the areas of finance and accounting, strategic communications, human resources, risk management, clinical and regulatory, market research, and commercial readiness and launch. Founded in 2011, Danforth has partnered with more than 1,500 life science companies, private and public, across all stages of the corporate lifecycle. The company serves clients around the globe from its base in Waltham, Massachusetts and regional operations in New York, Pennsylvania, New Jersey, Maryland, California, and London. Additional information is available at www.danforthadvisors.com.

    The MIL Network –

  • MIL-OSI: Nokia’s Corteca Cloud for device and Wi-Fi management adds hundreds of legacy broadband devices #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia’s Corteca Cloud for device and Wi-Fi management adds hundreds of legacy broadband devices #MWC25

    • Nokia Corteca Cloud now supports over 400 legacy broadband devices from over 30 manufacturers, providing CSPs with a single pane of glass that simplifies in-home Wi-Fi and device management.
    • Both the traditional TR-069 and the new TR-369 industry standard protocols are supported by the Nokia Corteca Cloud, providing a smooth transition path for CSPs.
    • For the past 20 years, TR-069 has been the industry standard for managing, provisioning, and troubleshooting over 1 billion broadband devices.   

    20 February 2025
    Espoo, Finland – Nokia today announced that it is adding support for 415 legacy TR-069-based broadband devices to its Corteca Cloud. Supporting both the legacy TR-069 and new TR-369 protocols, Nokia’s Corteca Cloud provides CSPs with a single pane of glass for legacy and new broadband devices, simplifying in-home Wi-Fi connectivity and device management.

    For the past 20 years, the TR-069 protocol has been used to manage approximately 1 billion broadband devices worldwide, enabling CSPs to remotely provision and maintain customer-premises equipment (CPE). The new TR-369 protocol introduces significant new capabilities for new devices, but transitioning away from TR-069 will take years. By supporting both protocols, Nokia’s Corteca Cloud allows CSPs to manage devices efficiently today while adapting for the future.

    Key benefits of Nokia’s Corteca Cloud for CSPs:

    • Smooth transition from TR-069 to TR-369 – A single pane of glass supports both TR-069 and TR-369, allowing CSPs to transition at their own pace.
    • Scalability & efficiency – Simplifies management of multiple customer devices, including third-party hardware, and reduces operational complexity.
    • Remote operations – Enables CSPs to configure, troubleshoot, and upgrade devices remotely, minimizing the need for on-site visits.
    • Reduced support costs – Automates Wi-Fi monitoring to proactively resolve issues, lowering customer support calls.

    Justin Doucette, Head of WiFi and Software, Fixed Networks at Nokia, said: “Service providers need a practical path to the future, not a forced transition. By supporting both TR-069 and TR-369, Nokia Corteca Cloud gives operators the flexibility to manage today’s networks while preparing for what’s next— without disruption. Our solution provides a smooth evolution path and a single pane of glass for seamless visibility and control.”

    Resources and additional information
    Product page: Nokia Corteca Home Controller

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

  • MIL-OSI: Cactus Custody Achieves SOC 1 Type 1 Certification with Deloitte’s Audit, Strengthening Trust in Digital Asset Custody

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 20, 2025 (GLOBE NEWSWIRE) — Cactus Custody, a leading institutional digital asset custody provider, has earned SOC 1 Type 1 certification through an independent audit by Deloitte. This certification highlights Cactus Custody’s commitment to high operational control standards and secure, compliant custody solutions.

    Deloitte thoroughly assessed Cactus Custody, reviewing client account onboarding, fiat and crypto transactions, and internal system operations. The audit also validated its financial processing capabilities, including settlement, reconciliation, account management, fee processing, asset valuation, reporting, and securing cryptographic keys throughout their lifecycle across various custody storage methods.

    Wendy Jiang, General Manager of Cactus Custody, stated: “Achieving SOC 1 Type 1 certification underscores our commitment to robust governance, precise financial management, and secure custody. We prioritize the security of our clients’ assets and maintain strict internal controls to deliver top-tier service. Moving forward, we will promote compliance and transparency, striving to set higher benchmarks in the evolving crypto asset space to enhance trust and satisfaction among our clients.”

    Cactus Custody previously achieved SOC 2 Type 1 certification with Deloitte and is progressing toward SOC 1 Type 2 reporting this year. Through regular audits, the company continues to enhance custody standards, drive industry compliance, and provide transparent, secure custodial services.

    About Cactus Custody

    A trusted institutional digital asset custodian, Cactus Custody is ISO-certified, holds a Hong Kong license (TC006789), and has received a temporary exemption from the Monetary Authority of Singapore (MAS). It adheres to strict capital reserve requirements and AML and CTF regulations. Committed to “Security First, Integrity Always,” Cactus Custody simplifies crypto asset management professionally and confidently.

    Visit the official Cactus Custody website for more details.

    Media Contact: press@mycactus.com

    Cactus Custody PR Team

    Disclaimer: This content is provided by Cactus Custody. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities .Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/31c3118b-8922-4820-ba03-d9578673f3ad

    The MIL Network –

  • MIL-OSI: cBrain intends to take lead in COTS for government industry

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 02/2025

    cBrain intends to take lead in COTS for government industry

    Copenhagen, February 20, 2025

    cBrain (NASDAQ: CBRAIN) revenue grew by +12% to DKK 268m in 2024, up from DKK 239m in 2023. Earnings before tax (EBT) grew to DKK 86m in 2024, up from DKK 81m in 2023, thereby reaching an EBT margin of 32%.

    Results are in line with expectations, forecasting a revenue growth range of 12-13% and EBT margin of 30-32%.

    Strong positive cash flow from operating activities enables an increase in dividends, investments in the growth of the company, and it reduces long-term loans on cBrain-owned buildings.

    cBrain does not have a share buyback program. However, due to solid earnings, cBrain proposes to raise dividends to DKK 0,64 per share (2023: DKK 0,28 per share) corresponding to a payout ratio of approx. 20% of profit for the year.

    Fueled by a lack of skilled IT resources and a growing demand for fast delivery, cBrain sees a rapidly emerging IT industry, referred to as Commercial Off-The-Shelf (COTS) for government. COTS for government, leveraging new technologies and platforms such as the F2 Digital Platform, enables digital transformation at higher speed and lower costs that outperform traditional IT modernization.

    For cBrain the accelerated market shift represents new strategic opportunities. cBrain wants to fully take advantage of this, and cBrain is therefore currently in the process of evaluating and potentially adjusting its international growth strategy.

    With the goal of being an internationally leading vendor in the emerging COTS for government industry, the strategy process includes evaluating organizational readiness, market and product development strategies.

    As a result of the strategy process, cBrain expects to implement a number of changes to the growth plan during the spring of 2025. Consequently, cBrain forecasts expected revenue growth in 2025 of 10-15% and earnings before tax (EBT) of 18-23%.

    The revenue forecast takes into account that e.g. developing new channel strategies may shortly delay revenue. The earnings forecast is based on significantly increased investments into international growth, across the African region, USA, Germany, and India, as well as increased investments into developing the F2-for-Partners concept.

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to 

    Ejvind Jørgensen, CFO & Head of Investor Relations, cBrain A/S, ir@cbrain.com, +45 2594 4973

    Attachment

    The MIL Network –

  • MIL-OSI USA: Hagerty, Blunt Rochester Introduce Bipartisan Legislation to Modernize Credit Union Boards

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    WASHINGTON—United States Senators Bill Hagerty (R-TN), a member of the Senate Banking Committee, and Lisa Blunt Rochester (D-DE) have reintroduced the Credit Union Board Modernization Act.

    The bipartisan legislation revises an antiquated federal law that requires credit union boards to meet every month. By reducing superfluous board meetings, the bill relaxes regulatory burdens and allows credit unions to focus on their core mission of providing financial services to their members.

    “Credit unions should be allowed to spend less time in unnecessary board meetings and more time serving their members,” said Senator Hagerty. “My legislation will revise outdated federal regulations by setting aside regulatory micromanagement and allowing credit unions the flexibility to focus on providing quality financial services to rural communities and members across the country.”

    “It is far past time that the arcane requirements for credit unions are removed,” said Senator Blunt Rochester. “This bill is an essential step toward improving the functionality of credit unions up and down my home state of Delaware, especially those small and rural. I look forward to continuing this bipartisan effort alongside Senator Hagerty and our colleagues to ensure credit unions spend less time maneuvering through red tape and more time serving their communities and promoting financial well-being.”

    “We greatly appreciate Sens. Bill Hagerty and Lisa Blunt Rochester for their introduction of the Credit Union Board Modernization Act,” said Carrie Hunt, America’s Credit Unions Chief Advocacy Officer. “Credit unions face several regulatory burdens, and this bill would provide flexibility so that credit unions can commit more resources and time to what matters most: serving their members and communities. This legislation has already passed the House, and we urge the Senate to swiftly take up the measure. We will continue to work with lawmakers on other reforms to ensure credit unions can thrive.”“The Tennessee League is grateful to Senator Hagerty for his leadership in introducing the Credit Union Board Modernization Act,” said Sarah Waters, Chief Advocacy Officer of the Tennessee Credit Union League. “As not-for-profit financial cooperatives, credit unions are governed by volunteer boards of directors. These dedicated community leaders work and serve alongside credit union members to ensure the financial well-being of all. By modernizing outdated board meeting requirements, this legislation will allow these volunteers and their credit unions to dedicate more time and resources to serving their communities.”

    Full text of the legislation can be found here.

    MIL OSI USA News –

  • MIL-OSI: IDEX Biometrics receives IDEX Pay order for VISA biometric cards in MEA

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway – 20 February 2025 – A leading smart card technology, security and ID company based in MEA (Middle-East & Africa) has placed a production order of 10,000 units with IDEX Biometrics. The order supports Visa biometric bank card programs in one of the fastest growing payment markets in the region, and marks the first Visa program in market on the IDEX Pay biometric technology solution. The IDEX Biometrics partner serves over 500 banks, governments, and corporations worldwide.

    ‘The innovation pace of our card manufacturing partners in bringing biometric smart cards to market is accelerating; certifications allow them to move to industrialized production and commercialization. Ultimately bringing more secure payments, access and identity control to more consumers around the world’, comments Catharina Eklof, Chief Executive Office at IDEX Biometrics.

    For further information contact:
    Marianne Bøe, Head of Investor Relations, +47 91800186
    Kristian Flaten, CFO, +47 95092322
    E-mail:ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. The company’s solutions provide convenience, security, peace of mind, and seamless user experiences worldwide. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, IDEX Biometrics’ biometric solutions target card-based applications for payments and digital authentication. As an industry enabler, the company partners with leading card manufacturers and technology companies to bring its solutions to market.

    For more information, please visit www.idexbiometrics.com.

    Trademark Statement
    IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    About this notice:
    This notice was issued by Marianne Bøe, Head of Investor Relations, on 20 February 2025 at 08:30 CET on behalf of IDEX Biometrics ASA.

    The MIL Network –

  • MIL-OSI Banking: Secretary-General of ASEAN receives the Ambassador for the Promotion of the Asia Zero Emission Community

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received a courtesy call from Ambassador for the Promotion of the Asia Zero Emission Community (AZEC) and Special Assistant to the Foreign Minister of Japan, H.E. Takio Yamada, at the ASEAN Headquarters/ASEAN Secretariat. They exchanged views on enhancing ASEAN-Japan cooperation, particularly in advancing energy transition initiatives as well as in promoting sustainable and low-carbon solutions to support regional targets.

    The post Secretary-General of ASEAN receives the Ambassador for the Promotion of the Asia Zero Emission Community appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Economics: Air India and Lufthansa Group announce significant expansion of codeshare partnership: ~60 additional routes across 12 Indian and 26 European cities

    Source: Lufthansa Group

    Air India and Lufthansa Group have agreed to build on their longstanding codeshare partnership, which sees Air India enter into a new codeshare agreement with Austrian Airlines, as well as expand the existing codeshare agreements between Air India, Lufthansa, and Swiss International Air Lines (SWISS).

    The expanded partnership significantly boosts flight options and connectivity for travellers between the Indian Subcontinent and Europe with the addition of close to 60 codeshare routes operated by the four airlines across 12 Indian and 26 European cities.

    The expanded agreements increase the total number of codeshare routes between Air India, Lufthansa and SWISS from 55 to nearly 100. Additionally, the new agreement between Air India and Austrian Airlines adds 26 codeshare routes. This provides greater choice, convenience, and seamless experiences to travellers from both regions.

    Customers of Lufthansa Group will now be able to connect to Air India’s domestic services to or from 15 points within India, namely Ahmedabad, Amritsar, Bengaluru, Bhubaneswar, Chennai, Delhi, Goa Mopa, Goa Dabolim, Hyderabad, Indore, Kochi, Kolkata, Mumbai, Pune, and Thiruvananthapuram. Additionally, Lufthansa Group carriers will add their respective designator codes to Air India’s international services to 3 destinations from Delhi and Mumbai: Kathmandu, Melbourne, and Sydney.

    Additionally, flights currently operated by Air India and Lufthansa Group carriers between India and Germany or Switzerland will be covered under the expanded codeshare partnership. For example, customers who wish to fly between Delhi and Frankfurt will now have three daily flight options each way with ‘LH’ flight numbers, including two flights operated by Air India and one flight operated by Lufthansa.

    Reciprocally, Air India will now offer its customers a total of 26 destinations across Europe and 3 destinations in the Americas beyond its gateways in Europe (Frankfurt, Vienna, and Zurich), with the ‘AI’ designator code placed on the following services operated by airlines in the Lufthansa Group, including Austrian Airlines for the first time:

    Lufthansa
    Between Frankfurt and: Amsterdam, Barcelona, Berlin, Bremen, Brussels, Copenhagen, Dresden, Düsseldorf, Dublin, Geneva, Hamburg, Hannover, Luxembourg, Lyon, Manchester, Marseille, Munich, Nice, Nuremberg, Oslo, Prague, Riga, Rio de Janeiro, São Paulo, Stockholm, Stuttgart, Toulouse, Valencia, Washington D.C.

    SWISS
    Between Zurich and: Amsterdam, Barcelona, Berlin, Bremen, Brussels, Copenhagen, Dresden, Düsseldorf, Dublin, Geneva, Hamburg, Hannover, Luxembourg, Manchester, Marseille, Munich, Nice, Oslo, Prague, Stockholm, Stuttgart, Valencia.

    Austrian Airlines
    Between Vienna and: Amsterdam, Barcelona, Berlin, Bremen, Brussels, Copenhagen, Düsseldorf, Geneva, Hamburg, Hannover, Lyon, Manchester, Marseille, Munich, Nice, Oslo, Prague, Stockholm, Stuttgart, Valencia.

    Both airlines plan to progressively include other destinations in their network to the codeshare arrangements.

    Air India and the three Lufthansa Group carriers are members of Star Alliance. Frequent flyers will continue to earn and redeem points/miles on all four airlines, while elite status holders of Air India’s Maharaja Club and Lufthansa Group’s Miles & More programmes will benefit from Star Alliance Gold benefits including priority services, extra baggage allowance, and airport lounge access across the world. 

    According to Lufthansa Group Chief Commercial Officer, Dieter Vranckx: “We are thrilled to strengthen our partnership with Air India and elevate the travel experience for our joint customers. By further enhancing our cooperation, we will increase the travel options between Europe and India and offer our passengers improved access to additional destinations. Lufthansa Group remains committed to India, and we are excited about the possibilities and potential the country and Air India as a partner have to offer”.

    Nipun Aggarwal, Chief Commercial Officer, Air India, said: “Our goal is to enable our customers to travel from any corner of the world to another via Air India and its partner airlines. The expansion of our partnership with Lufthansa Group is a step in that direction, and we are pleased to take this long-standing relationship to the next level. With this renewed partnership, our customers will have access to more destinations and greater flexibility to travel across Europe on Lufthansa Group carriers. It also gives us the opportunity to serve Lufthansa Group customers, with warmth and quintessential Indian hospitality, aboard Air India flights. We look forward to continue working closely with our Star Alliance partners in making the world feel like a smaller place.”

    Subject to regulatory approvals, the codeshare flights will be progressively made available for sale through the airlines’ respective booking channels.

    ABOUT LUFTHANSA GROUP:

    The Lufthansa Group is an aviation group with operations worldwide. With 100,000+ employees, Lufthansa Group generated revenue of €35.4bn in the financial year 2023. Our largest business segment is Passenger Airlines while other key business segments include Logistics and Maintenance, Repair and Overhaul (MRO). Other companies and Group functions such as IT companies and Lufthansa Aviation Training form complimentary components of the Group. All airlines and business segments play leading roles in their respective markets.

    ABOUT AIR INDIA GROUP:

    The Air India group – comprising of full-service global airline Air India and low-cost regional carrier Air India Express – is spearheading a new era of Indian aviation. The Air India story began in 1932 when JRD Tata piloted the airline’s inaugural flight and opened the skies for aviation in India. Today, Air India group employs more than 30,000 people, operates over 300 aircraft and carries customers to 55 domestic and 48 international destinations across five continents.

    Returning to the Tata Sons in 2022 following 70 years under Government ownership, Air India group is in the midst of a five-year transformation program, Vihaan.AI. As part of the transformation, Air India placed the then largest-ever order for 470 new aircraft in 2023. In 2024, sister airlines Air Asia India and Vistara were successfully merged into Air India Express and Air India respectively, and the Airline opened South Asia’s largest aviation training academy.

    A new flying school is scheduled to open in 2025, and construction of a greenfield maintenance base, to be operational in 2026, is underway. In addition to receiving new aircraft, all existing aircraft are progressively undergoing a full interior refit.

    With transformation underway across all facets of the business and India’s rich legacy of hospitality, Air India is committed to being a world class global airline with an Indian heart.

    MIL OSI Economics –

  • MIL-OSI NGOs: Job Opening: EXECUTIVE DIRECTOR

    Source: Greenpeace Statement –

    This is a permanent role based in Bangkok, Kuala Lumpur, Jakarta, or Manila.

    Greenpeace activists and volunteers gather at a wind farm at Baru beach during Buru Baru festival to hold letters forming a banner reading: ‘#ActionForClimate.’ Part of a Global Day of Action in Bantul, Yogyakarta, Indonesia. © Ulet Ifansasti / Greenpeace

    About the Role

    The Executive Director will provide visionary leadership, ensuring alignment with Greenpeace’s core values. This includes overseeing operations in four countries, the Philippines, Malaysia, Indonesia, and Thailand, driving international collaboration, and maintaining accountability across governance, human resources, and financial management. The role requires a proactive approach to campaign contributions within Greenpeace’s global objectives.

    The job holder will have the following key responsibilities:

    Strategic Leadership

    • Develop and communicate a clear vision and strategic objectives aligned with Greenpeace’s mission.
    • Empower staff and volunteers to foster a shared sense of purpose and organisational culture.
    • Monitor external developments and implement responsive strategies as needed.

    Operation, Finance, and Fundraising

    • Oversee all organisational functions, ensuring strategies and policies align with core values.
    • Maintain financial discipline and ensure adherence to auditing practices.
    • Collaborate with the Fundraising Director to explore alternative funding streams and improve grassroots contributions from individual donors across the region.
    • Recruit, train, and develop staff with a focus on accountability and high performance.

    Change Management

    • Drive organisational transformation through strategic planning, operational efficiency, and transparent decision-making.
    • Align global objectives with mission-focused strategies to enhance morale, inclusivity, and overall effectiveness.
    • Determine and implement effective management structures and systems to achieve organisational objectives.
    • Foster cross-country collaboration to enhance efficiency and inclusivity.

    Communications and Network

    • Enhance internal communication and information flow across departments, countries and hierarchy levels.
    • Build and maintain productive relationships with NGOs, media, government, and relevant stakeholders.

    Governance and Relationship to The Board

    • Create and adapt annual, mid-term and long-term strategies in partnership with the Board and Greenpeace International.
    • Ensure compliance with legal, statutory, and regulatory responsibilities.
    • Identify and mitigate organisational risks while maintaining operational effectiveness.
    • Provide regular reports to the Board, ensuring informed decision-making.

    Campaign Advocacy and Representation

    • Create and adapt annual, mid-term and long-term strategies in partnership with the Board and Greenpeace International.
    • Ensure compliance with legal, statutory, and regulatory responsibilities.
    • Identify and mitigate organisational risks while maintaining operational effectiveness.
    • Provide regular reports to the Board, ensuring informed decision-making.

    Personnel, Health, and Safety

    • Lead and implement impactful campaigns on rainforest conservation, climate justice, ocean, plastic and coal reduction.
    • Drive grassroots mobilisation, engage key stakeholders, and amplify GPSEA’s successes through strategic advocacy efforts.
    • Represent GPSEA at international meetings and in public forums.
    • Act as a spokesperson for the organisation.

    Personnel, Health, and Safety

    • Ensure adherence to best practices in all operational areas, balancing ambition with available resources.

    Skills and Experience

    • Environment movement background.
    • Proven leadership in a complex organisation, with a focus on effective management and accountability.
    • Deep understanding of global environmental issues and sustainability principles.
    • Strong systems thinking, strategic planning, and horizon-scanning skills.
    • Ability to inspire and unite diverse stakeholders around a compelling vision.
    • Commitment to Non-Violent Direct Action (NVDA) and grassroots campaigning.
    • Financial literacy and a positive attitude toward digital innovation.
    • Fluency in English; additional language skills are an asset.

    Personal Attributes

    • Responsive and adaptive. 
    • Highly emotionally intelligent with strong interpersonal skills.
    • Courageous, empathetic, and humble leadership style.
    • Committed to social and environmental justice.
    • Activist spirit with a passion for Greenpeace’s mission.
    • Understanding of Southeast Asia’s cultural and operational dynamics.

    Greenpeace’s Commitment to Diversity and Inclusion

    Greenpeace values diversity as essential to its mission and success. The organisation fosters an inclusive environment that respects varied cultural experiences and perspectives, promoting solutions rooted in social and environmental justice.

    Deadline for applications: March 20, 2025

    Jobs

    Do you have a passion for this planet and want to do more? Work with us!

    TAKE ACTION

    MIL OSI NGO –

  • MIL-OSI Submissions: Energy Sector – Announcement of cash dividend per share in NOK for third quarter 2024 – Equinor

    Source: Equinor

    20 FEBRUARY 2025 – Equinor ASA announced on 24 October 2024 an ordinary cash dividend per share of USD 0.35 and an extraordinary cash dividend per share of USD 0.35 for third quarter 2024.

    The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 14 February 2025, in total seven business days.

    Average Norges Bank fixing rate for this period was 11.1820. Total cash dividend for third quarter 2024 of USD 0.70 per share is consequently NOK 7.8274 per share.

    On 28 February 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts (“ADRs”) on New York Stock Exchange.

    This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    MIL OSI – Submitted News –

  • MIL-OSI China: Alibaba Cloud launches first data center in Mexico

    Source: China State Council Information Office

    Alibaba Cloud, the cloud computing arm of Chinese tech giant Alibaba Group, announced the launch of its first data center in Mexico on Wednesday, as the company aims to expand its reach in the global cloud market.

    The new digital infrastructure will provide cloud computing services to businesses and developers across Latin America, underscoring Alibaba Cloud’s commitment to accelerating Mexico’s digital transformation and fostering innovation throughout the region.

    With the addition of this new data center, Alibaba Cloud’s global infrastructure now spans 87 availability zones across 29 regions.

    Selina Yuan, president of international business at Alibaba Cloud Intelligence said, “We are not only bringing cloud technology to support local businesses, but also building an inclusive and thriving ecosystem in Mexico together with local partners, developers and customers to foster innovation, collaboration and sustainable growth across Latin America.”

    Yuan added that by leveraging Alibaba Cloud’s global network, Mexican companies can tap into other markets, especially those in Asia.

    The Mexico facility was launched six days after Alibaba Cloud announced that it will commence operations at its second data center in Thailand to meet the country’s growing demand for cloud services and support generative artificial intelligence applications.

    MIL OSI China News –

  • MIL-OSI New Zealand: Legislation – Another Step Forward for Build to Rent: Government Passes Key Investment Bill – Property Council

    Source: Property Council New Zealand

    KEY POINTS:

    • Property Council New Zealand strongly supports the passing of the Overseas Investment (Build to Rent and Similar Rental Developments) Amendment Bill, which facilitates increased foreign investment in the Build to Rent (BTR) housing sector. 
    • The Amendment Bill introduces a ‘large rental development test’ to attract much-needed overseas capital and signal that New Zealand is open for BTR investment.
    • BTR has seen slow but steady growth since the asset class was formally recognised in 2023, and the Bill is expected to accelerate development.
    • Research from Property Council New Zealand indicates that, with supportive legislation, developers could deliver 25,000 BTR homes in the next decade.
    • Property Council and partners Bayleys, Colliers, Savills, CBRE, and JLL track BTR sector growth across Aotearoa, with 1,841 completed units, 736 under construction, and 2,961 in the pipeline across 56 developments as of 31 December 2024. More details: www.buildtorentnz.co.nz.

    Property Council New Zealand welcomes the passing of the Overseas Investment (Build to Rent and Similar Rental Developments) Amendment Bill, a critical step toward increasing the supply of long-term, quality rental housing across New Zealand.

    The Bill introduces a ‘large rental development test’ to attract much-needed overseas investment, ensuring Build to Rent (BTR) projects can be financed at scale. Property Council Chief Executive Leonie Freeman says the move is a game-changer for the sector, unlocking opportunities to deliver more secure, high-quality rental options for New Zealanders.

    “This legislation is a strong signal that New Zealand is open for Build to Rent investment. For years, we have seen the sector struggle to gain momentum due to regulatory uncertainty and barriers to international capital. Today’s decision changes that,” says Freeman.

    BTR, a purpose-built rental housing model offering professionally managed, long-term rental options, has been growing steadily in New Zealand since its formal recognition in 2023. However, to scale effectively, developers need access to investment that matches the long-term nature of these assets.

    “With supportive policy settings, our research shows that developers could deliver 25,000 Build to Rent homes within the next decade. That’s a significant contribution to increasing housing supply and providing renters with greater choice and stability,” Freeman says.

    Property Council also acknowledges the cross-party support for the Bill, with all but two minor parties voting in favour. Freeman says this bipartisan approach is essential for creating certainty for investors and developers.

    “We thank Ministers and MPs for their collaborative approach in recognising Build to Rent as a vital part of New Zealand’s housing mix. This kind of certainty is exactly what investors need to commit to large-scale rental developments,” says Freeman.

    While the passage of the Bill is a positive step, Property Council believes further refinements could enhance the sector’s growth. Freeman urges the government to consider introducing depreciation for BTR fit-outs, clarifying GST rules around service levels and amenities, and ensuring the Residential Tenancies Act is appropriately applied to BTR tenancies.

    “We look forward to continuing our work with government to fine-tune the policy settings that will enable Build to Rent to reach its full potential,” Freeman says.

    For more information on BTR sector growth, visit www.buildtorentnz.co.nz.

    About Property Council New Zealand

    Property Council is the leading advocate for Aotearoa New Zealand’s largest industry – property.

    Property Council New Zealand is the one organisation that collectively champions property. We bring together members from all corners of the property ecosystem to advocate for reduced red tape that enables development, encourages investment, and supports our communities to thrive.

    Property is New Zealand’s largest industry, making up 15% of economic activity. As a sector, we employ 10% of New Zealand’s workforce and contribute over $50.2 billion to GDP.

    A not-for-profit organisation, the Property Council connects over 10,000 property professionals, championing the interests of over 550 member companies.

    Our membership is broad and includes some of the largest commercial and residential property owners and developers in New Zealand. The property industry comes together at our local, national and online events, which offer professional development, exceptional networking and access to industry-leading research.

    Our members shape the cities and spaces where New Zealanders live, work, play and shop.

    www.propertynz.co.nz

    MIL OSI New Zealand News –

  • MIL-OSI: Equinor ASA: Announcement of cash dividend per share in NOK for third quarter 2024

    Source: GlobeNewswire (MIL-OSI)

    Equinor ASA (OSE: EQNR, NYSE: EQNR) announced on 24 October 2024 an ordinary cash dividend per share of USD 0.35 and an extraordinary cash dividend per share of USD 0.35 for third quarter 2024.

    The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 14 February 2025, in total seven business days.

    Average Norges Bank fixing rate for this period was 11.1820. Total cash dividend for third quarter 2024 of USD 0.70 per share is consequently NOK 7.8274 per share.

    On 28 February 2025, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts (“ADRs”) on New York Stock Exchange.

    This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI: ING to redeem Perpetual Capital Securities

    Source: GlobeNewswire (MIL-OSI)

    ING to redeem Perpetual Capital Securities

    ING announced today it will redeem USD 1,250 million of 6.500% Perpetual Additional Tier 1 Contingent Convertible Capital Securities (the “Perpetual Capital Securities”) on the call date of 16 April 2025, in line with ING’s goal to continuously optimise its capital structure.

    The Perpetual Capital Securities (CUSIP 456837AF0/ISIN US456837AF06) will be redeemed in full in accordance with their terms, with payment to be made on 16 April 2025. The redemption price will be the principal amount of the Perpetual Capital Securities. Accrued and unpaid interest due on the redemption date will be paid in the usual manner to holders of record as of 15 April 2025. The paying agent for the Perpetual Capital Securities is The Bank of New York Mellon, London Branch 160 Queen Victoria Street London EC4V 4LA United Kingdom.

    Any future decisions by ING as to whether it will exercise (or cause to be exercised) calls in respect of debt securities will be made on an economic basis, taking into account the interests of all stakeholders. Other factors that ING will consider include prevailing market conditions, regulatory approval and capital requirements.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via X @ING_news feed. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE
    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    Important legal information

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

    Attachment

    The MIL Network –

  • MIL-OSI: Viridien and Matnex partner to accelerate AI-powered materials discovery

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – February 20, 2025

    Viridien, an advanced technology and digital company, and Materials Nexus Ltd. (trading as Matnex), a leader in AI-driven materials discovery, are partnering to rapidly scale Matnex’s computational capacity for the discovery and production of groundbreaking materials.

    The partnership between Viridien and Matnex reflects a shared goal to accelerate innovation and reduce the environmental impact of technologies critical to the net-zero transition in areas such as energy generation, energy storage, transport and sustainable computing.

    This expansion of computational resources, powered by Viridien’s Outcome-as-a-Service model, represents a paradigm shift in materials discovery. By leveraging AI/HPC and optimization expertise, Viridien will industrialize Matnex’s innovation pipeline. This partnership is set to deliver the highest throughput of new material discoveries globally, unlocking unprecedented commercial opportunities and industry-wide transformation.

    Dr. Jonathan Bean, CEO of Matnex, said: “This project marks a major leap forward in materials science. By harnessing AI at this scale, we can tackle complex challenges that have previously been beyond reach. This partnership with Viridien provides us with computational power that is not only unrivalled but transformative for the field of materials discovery.”

    Chris Page, EVP, New Business Development, Viridien, said: “This agreement is another exciting example of how Viridien’s HPC & Cloud Solutions teams are collaborating with high HPC baseload scientific companies to achieve faster, more accurate results with lower and more predictable R&D and operating costs enabling them to accelerate scientific discoveries and push innovative products to the market more quickly and economically. We are particularly delighted to be supporting Matnex’s research into next-generation materials for the HPC industry. This fits well with our corporate commitment to help catalyze technology innovations for a more sustainable future for society.”

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contacts

    Attachment

    The MIL Network –

  • MIL-OSI: CLIQ Reports Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Tougher market conditions: €243m sales (-26%) and €21m EBITDA (-58%)
    • Transformation programme: €11m special items on EBITDA level
    • -€4.75 EPS resulting from -€28m net loss (-188%)
    • €12m net cash position per year-end vs. €16m at end of 2023
    • Share buyback programme successfully completed and €0.04 dividend per share proposed
    • 2025 outlook: €180-220m sales, €10-15m EBITDA, €50-75m customer acquisition costs

    DÜSSELDORF, 20 February 2025 – The CLIQ Group publishes today its audited 2024 financial statements. The Annual Report 2024 is available on the Group’s website at https://cliqdigital.com/investors/financialreporting.

    Performance

    in millions of € FY
    2024    		 FY
    2023    		 Δ   4Q
    2024    		 4Q
    2023    		 Δ
    North America 168 197 -15%   34 54 -37%
    Europe 52 109 -52%   9 25 -64%
    Latin America 14 13 10%   4 3 11%
    ROW 9 8 20%   1 5 -29%
    Sales 243 326 -26%   48 84 -43%
    Expected average LTV1 (in €) 77 85 -10%   70 87 -19%
    Total CAC2 -75 -135 -45%   -11 -35 -68%
    EBITDA (before special items3) 21 50 -58%   5 12 -59%
    EBITDA margin3 9% 15%     10% 14%  
    Profit/loss for the period -28 32 -187%   -29 7 n/a
    EPS (basic, in €) -4.75 4.90 n/a   -4.99 1.07 n/a
    • Sales: In 2024, Group sales declined by 26% year-on-year to €243 million (2023: €326 million) mainly due to less customers. 97% of Group sales in 2024 were generated with bundled-content services and in line with the Management decision to focus on profitability, revenue in North America declined by 15% and in Europe by 52% in 2024. In Latin America and in the region Rest of the World, sales increased by 10% and 20%. However, the quarter-on-quarter Group sales decrease decelerated notably from -21% in 3Q 2024 to -11% in the fourth quarter.
    • Total customer acquisition costs: The total customer acquisition costs in 2024 amounted to €75 million (2023: €135 million). The 45% lower total customer acquisition costs reflected the Group’s decision to strategically increase its focus on profitability and the subsequent lowering of the target cost per acquisition (CPA).
    • EBITDA: In 2024, EBITDA before special items decreased by 58% to €21 million (2023: €50 million) and the corresponding EBITDA margin was accordingly lower at 9% (2023: 15%) predominantly as a result of the lower sales development and despite reduced cost of sales and operating expenses. Reported EBITDA amounted to €10 million and included therein were €11 million special items relating mostly to the Group’s transformation programme “Fit For Future”. The reported EBITDA margin was 4%.
    • Loss for the period: In 2024, the result for the year amounted to a loss of €28 million (2023: €32 million profit). Resulting from the annual impairment test performed on the goodwill, CLIQ corrected its goodwill and recognised an impairment loss of €27 million. This goodwill impairment was primarily attributable to the challenging market conditions going forward as well as to the significant decline in 2024 in the Group’s market value as determined by the stock market capitalisation.
    • Earnings per share: In 2024, the loss per share (basic EPS) was -€4.75 (2023: €4.90) and the diluted loss (EPS) totalled -€4.71 (2023: €4.82).
    • Cash flow: In 2024, the operating free cash flow decreased to €3.4 million (2023: €19 million). The cash inflow from operating activities during 2024 amounted to €9 million (2023: €30 million) and the decrease was mainly due to the drop in sales and margin contraction. The 2024 cash outflow from investing activities was €5 million (2023: €12 million) and largely related to payments for licensed content as well as for investments in platform and technical developments. The cash flow from financing activities during 2024 was an outflow of €7 million (2023: €13 million) and included €5.5 million cash outflow for the share buyback programme and €0.3 million dividend distribution.
    • Liquidity: Due to the lower operating free cash flow, the net cash position decreased to €12 million at the year-end close (31/12/2023: €16 million).

    Operational indicators

    • Lifetime value of a customer: In 2024, the expected average lifetime value of a customer (LTV) was down 10% to €77 (2023: €85). The year-on-year decrease was due to the higher churn rates against 2023 resulting from new customer care tools in place at the card scheme companies, which consequently resulted in shorter average customer loyalty durations.
    • Customers: The number of unique paying customers for the Group’s bundled- and single-content streaming services decreased to 0.7 million per 31 December 2024 (31/12/2023: 1.2 million). The decrease resulted from the Group’s stronger focus on profitability than on sales growth. Whereby the CPA was brought more in line with the lower expected average lifetime value (LTV) of the customers, which led to less new customer acquisitions.
    • Lifetime value of Customer Base: As at 31 December 2024, the lifetime value of the customer base (LTVCB) dropped by €70 million to €94 million compared to prior year-end (31/12/2023: €164 million). The lower LTVCB was the result of the decrease in the number of customers as well as the lower expected average lifetime value of a customer. The LTVCB represents the expected sales to be generated from paying customers as at reporting date over their estimated individual remaining lifetime.

    Capital return

    CLIQ successfully completed its share buyback programme ahead of schedule on 3 January 2025 and acquired in total nearly 647k own shares for just under €5.5 million at an average price of around €8.50 per share. As part of its capital return strategy, CLIQ’s Management Board decides on a yearly basis to what extent and how capital will be returned to shareholders. Despite the poor operating performance, CLIQ’s Management Board and Supervisory Board propose to distribute a dividend for the financial year 2024 of €0.04 per share.

    Outlook

    In 2025, CLIQ expects to generate an EBITDA of between €10 and 15 million on the back of Group sales expected to range between €180 and 220 million and after €50 to 75 million total customer acquisition costs forecast.

    Management Board statement

    “CLIQ and our shareholders faced significant challenges in 2024 as our business encountered tougher market conditions and our new sales growth initiatives advanced more slowly than anticipated,” said CEO Luc Voncken. “While market conditions in 2025 remain uncertain, we have strengthened our business foundations and must now move forward with a renewed entrepreneurial spirit and a clear vision to seize the growth opportunities ahead.“

    Earnings call

    A live audio webcast conducted in English will be held today at 2.00 p.m. CET with presentations from Luc Voncken, CEO, and Ben Bos, member of the Management Board.

    Questions submitted before 12.00 p.m. CET via email to investors@cliqdigital.com will be answered after the presentations.

    Please click on the link below to register for this webcast:

    https://cliqdigital.zoom.us/webinar/register/WN_UManLyZkSvyaKCEkPZeQmg

    ZOOM details will be sent to you via email post registration and a replay of the webcast will be available shortly after the call at: https://cliqdigital.com/investors/financials/financial-reporting.

    Contacts

    Investor Relations:
    Sebastian McCoskrie, s.mccoskrie@cliqdigital.com, +49 151 52043659

    Media Relations:
    Daniela Münster, daniela.muenster@h-advisors.global, +49 174 3358111

    Financial calendar

    Annual General Meeting 2025 Friday 11 April 2025
    Financial report 1Q 2025 & earnings call Thursday 8 May 2025
    Half-year financial report 2025 & earnings call Thursday 7 August 2025
    Financial report 3Q/9M 2025 and earnings call Thursday 6 November 2025

    About CLIQ

    The CLIQ Group is a data-driven online performance marketing company that sells bundled subscription-based digital products to consumers worldwide. The Group licenses content from partners, bundles it to digital products, and sells them via performance marketing. CLIQ is expert in turning consumer interest into sales by monetising online traffic using an omnichannel approach.

    The Group operated in 40 countries and employed 132 staff from 33 different nationalities as at 31 December 2024. The company is headquartered in Düsseldorf and has offices in Amsterdam and Paris. CLIQ Digital is listed in the Scale segment of the Frankfurt Stock Exchange (ISIN: DE000A35JS40, GSIN/WKN: A35JS4) and is a constituent of the MSCI World Micro Cap Index.

    Visit our website https://cliqdigital.com/investors. Here you will find all publications and further information about CLIQ. You can also follow us on LinkedIn.

    1 Lifetime value of a customer
    2 Customer acquisition costs
    3 2024 numbers are before special items

    The MIL Network –

  • MIL-OSI China: Announcement on Open Market Operations No.34 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.34 [2025]

    (Open Market Operations Office, February 20, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB125 billion through quantity bidding at a fixed interest rate on February 20, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB125 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月20日

    MIL OSI China News –

  • MIL-OSI China: China to increase credit support for private enterprises: financial regulator

    Source: People’s Republic of China – State Council News

    BEIJING, Feb. 20 — China will increase credit support for private enterprises, the country’s financial regulator has said.

    Efforts should be made to maintain a stable and effective increase in credit supply to private enterprises, and to strengthen support for first loans, renewals and credit loans to small and micro companies, the National Financial Regulatory Administration said in a statement on its website.

    The statement came after the administration held a meeting to study the key points and arrangements of a high-level symposium on private enterprises.

    The administration called for strengthening the role of technology in empowering inclusive finance to effectively meet the financing needs of private enterprises.

    The banking and insurance industries will be guided to make financial services for private enterprises more practical and refined, said the administration.

    In terms of market access in the financial industry, enterprises under all types of ownership will be treated equally and fairly, according to the administration.

    MIL OSI China News –