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Category: Economy

  • MIL-OSI: DCBL Launches Tackling Credit Campaign to Empower People to Take Control of Their Finances

    Source: GlobeNewswire (MIL-OSI)

    LONDON, April 24, 2025 (GLOBE NEWSWIRE) — The UK’s largest debt resolution company, DCBL, has launched its Tackling Credit in 2025 (TC25) initiative which aims to empower its customers to make informed financial decisions and regain control over their finances.

    The year-long campaign aims to reduce financial stress among its customers and draws on 25 years of industry expertise, comprehensive market research, and cutting-edge technology.

    As part of its continued investment in people, processes, and technology, DCBL has commissioned extensive market research, exploring the financial trends of UK adults and the effects debt has on their mental wellbeing.

    Collating the results of the research with third-party data, DCBL has produced a comprehensive report identifying the key factors affecting financial stability and potential solutions.

    The Understanding an Ever-Changing Customer Base Report unveiled the current deficient state of financial support channels in the UK, which has compelled it to take action to improve the situation for their customers and provide them with the tools and resources to take control of their finances.

    DCBL’s report reveals that messaging is now the preferred communication channel by 61% of UK adults, and a staggering 93% feel more in control of their finances when there is an app available.

    This detailed research and poignant findings have led to the creation of the DCBL Customer App. Developed and designed in-house, with the support of its customer engagement and welfare experts, the bespoke app allows users to manage their payments 24/7, with as much or as little direct communication as they desire.

    Leveraging technology to improve accessibility is an effective method of improving people’s financial and mental wellbeing – especially for vulnerable customers, who can actively ease the stress of debt by utilising digital tools.

    Darren Connor, Managing Director at DCBL, said: “We understand that financial hardship is about more than just numbers – it’s about real people. Through the Tackling Credit in 2025 campaign, the company is committed to making a real, measurable impact by providing the tools, resources, and support necessary to help our customers regain financial independence and take the stress out of debt.

    “Through TC25, we’re not only offering better accessibility and visibility of solutions but also empowering individuals with the tools and knowledge they need to make better financial decisions.

    “By investing in technology, we are making a key step towards simplifying the debt resolution process and providing seamless support for consumers.”

    For more information, and to download the full TC25 report visit: DCBL’s Tackling Credit in 2025 hub at https://dcbltd.com/tackling-credit-in-2025/.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f15c5e70-6e89-42cb-aca9-d3e9f29d4023

    The MIL Network –

    April 24, 2025

  • MIL-OSI Russia: Development of the digital economy and trends in the investment and construction process: the conference “Current problems of economics and management in construction” has ended

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – At the section of young scientists

    On April 17–18, the III National (All-Russian) Scientific and Practical Conference “Current Problems of Economics and Management in Construction” was held at SPbGASU, organized by the Faculty of Economics and Management.

    In total, 120 reports were heard during the two days of the event. Both representatives of SPbGASU and scientists from other universities, including from the Republic of Belarus, Uzbekistan and Kyrgyzstan, took an active part in the work of the section.

    The first day of the conference was marked by the holding of a section of young scientists “First steps in economic science”, in which students of the St. Petersburg Technical College of Management and Commerce (SPb TKuIC), the Russian State Pedagogical University named after A. I. Herzen (RSPU named after A. I. Herzen), Moscow Automobile and Road State Technical University (MADI), as well as representatives of student science from SPbGASU took part.

    At the opening of the young scientists’ section, Dean of the Faculty of Economics and Management Galina Tokunova noted the importance of participation in scientific events of students of secondary education institutions and called for further cooperation of colleges with SPbGASU in scientific and educational processes. Deputy Dean of the Faculty of Economics and Management for Research Yuri Tsvetkov gave a report “Involvement of Young Scientists in Scientific Activity”, highlighting the incentives and rewards that await young researchers in the course of active scientific work.

    The key topics of the section were the development of the digital economy, as well as modern trends in the functioning of the investment and construction process. Victoria Filippova, a student of St. Petersburg TCUiK, prepared a report “Optimization of supply chain management using digital financial assets: opportunities and prospects”, having examined in detail legislative initiatives in this area, the advantages of using this tool in supply chain management and the stages of implementation in logistics processes.

    Daniil Velichko, a student at St. Petersburg TCUiK, presented a report entitled “The Digital Economic Miracle of Russia,” highlighting the advantages of the digital transformation of the economy and assessing the level of digital skills among Russian citizens. In addition, Daniil showed a video about the digital economy prepared by college students.

    The section focused on the research conducted by students of the Herzen State Pedagogical University of Russia – representatives of the People’s Republic of China. Bi Yanwen conducted a comparative analysis of investments in infrastructure development in China and Russia, Xu Yijie compared the current state of the real estate market in the two countries, Chang Jiangshuai spoke about the principles of sustainable development in the construction sector, Lu Haoran studied the issues of antitrust regulation in China, Hao Boyuan presented the main challenges and prospects for the rational use of limited resources in the context of China’s rapid economic growth.

    The conference traditionally had four main sections: “Language training for future professionals”, “Economics of construction and housing and communal services: trends and prospects”, “Economic security: experience, problems, prospects” and “Current issues of management in construction”.

    The conference organizing committee selected the following reports.

    Researchers Evgeny Rossokha and Anastasia Frantsuzova from the Republic of Belarus focused on the ESG orientation of the Belarusian housing policy, which includes housing affordability, improvement of the local area and renovation.

    Vladislav Buchi, a representative of Peter the Great St. Petersburg Polytechnic University, made a presentation on the prospects for the development of multi-story industrial warehouse facilities in an urban format, which is very relevant in the context of the development of urban areas in St. Petersburg due to the acute shortage of warehouse complexes in the region.

    The research of the Master’s student of the Department of Construction Economics and Housing and Public Utilities Daria Batyreva was devoted to the current issues of managing the cost of construction projects in the field of construction production and design; the work highlighted particularly important and complex areas that attract the attention of all specialists in the field of project management.

    The curator of the section “Economic Security: Experience, Problems, Prospects”, Associate Professor of the Department of Economic Security Vladislav Uskov noted that this section has become a unique platform for exchanging opinions in the field of protecting the economic interests of the state and business, economic security and risk assessment. In particular, fourth-year student Meri Kopaleishvili presented a report on the topic “Digital Transformation of Development: Innovative Technologies and Marketing Strategies as a Factor of Sustainability in Conditions of Economic Instability”, Ksenia Danshina prepared a study “External Debt as a Threat to the Financial Security of the State”. A researcher from Peter the Great St. Petersburg Polytechnic University touched upon the problems and prospects of economic security and artificial intelligence.

    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 –

    April 24, 2025

  • MIL-OSI China: China adopts multiple measures to boost support for private companies

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

    BEIJING, April 24 — China is implementing a series of targeted measures to foster a favorable environment for private enterprises and promote growth in the private sector, said an official with the country’s top economic planner.

    These initiatives focus on easing financing constraints, boosting investment, promoting trade, enhancing talent development and encouraging innovation, said Liu Min, deputy head of the private economy development bureau under the National Development and Reform Commission, during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

    The private sector plays a key role in China’s economy, making up more than 90 percent of all businesses nationwide and contributing to over 70 percent of the country’s technological innovation. In February this year, the country held a high-level symposium on private enterprises, signaling strong support for the sector.

    Liu said China is taking concrete steps to strengthen legal protection for its private sector, with legislative work on the private economy promotion law accelerating. This draft legislation, set to become China’s first fundamental law dedicated to the private sector, has already undergone two reviews by Chinese lawmakers.

    China also encourages greater private sector participation in major national projects and programs, Liu added. To address the issue of overdue payments, the country will tighten punitive measures against defaulters, with a particular focus on payments owed to private enterprises.

    Liu highlighted efforts to strengthen communication with private enterprises. A comprehensive service platform for private sector development, launched in December, has recorded 180,000 visits over the past four months. By the end of March, the platform had received nearly 2,000 submissions from private firms, raising matters such as policy recommendations, access to production factors, overdue payments and intellectual property disputes.

    Each submission is dealt with via a structured workflow process of collection, handling, feedback and follow-up, in an effort to respond to the concerns of private companies, Liu said.

    MIL OSI China News –

    April 24, 2025

  • MIL-OSI Global: Beating malaria: what can be done with shrinking funds and rising threats

    Source: The Conversation – Africa – By Taneshka Kruger, UP ISMC: Project Manager and Coordinator, University of Pretoria

    Healthcare in Africa faces a perfect storm: high rates of infectious diseases like malaria and HIV, a rise in non-communicable diseases, and dwindling foreign aid.

    In 2021, nearly half of the sub-Saharan African countries relied on external financing for more than a third of their health expenditure. But donor fatigue and competing global priorities, such as climate change and geopolitical instability, have placed malaria control programmes under immense pressure. These funding gaps now threaten hard-won progress and ultimately malaria eradication.

    The continent’s healthcare funding crisis isn’t new. But its consequences are becoming more severe. As financial contributions shrink, Africa’s ability to respond to deadly diseases like malaria is being tested like never before.

    Malaria remains one of the world’s most pressing public health threats. According to the World Health Organization there were an estimated 263 million malaria cases and 597,000 deaths globally in 2023 – an increase of 11 million cases from the previous year.

    The WHO African region bore the brunt, with 94% of cases and 95% of deaths. It is now estimated that a child under the age of five dies roughly every 90 seconds due to malaria.

    Yet, malaria control efforts since 2000 have averted over 2 billion cases and saved nearly 13 million lives globally. Breakthroughs in diagnostics, treatment and prevention have been critical to this progress. They include insecticide-treated nets, rapid diagnostic tests, artemisinin-based combination therapies (drug combinations to prevent resistance) and malaria vaccines.

    Since 2017, the progress has been flat. If the funding gap widens, the risk is not just stagnation; it’s backsliding. Several emerging threats such as climate change and funding shortfalls could undo the gains of the early 2000s to mid-2010s.

    New challenges

    Resistance to drugs and insecticides, and strains of the malaria parasite Plasmodium falciparum that standard
    diagnostics can’t detect, have emerged as challenges. There have also been changes in mosquito behaviour, with vectors increasingly biting outdoors, making bed nets less effective.

    Climate change is shifting malaria transmission patterns. And the invasive Asian mosquito species Anopheles stephensi is spreading across Africa, particularly in urban areas.

    Add to this the persistent issue of cross-border transmission, and growing funding shortfalls and aid cuts, and it’s clear that the fight against malaria is at a critical point.

    As the world observes World Malaria Day 2025 under the theme “Malaria ends with us: reinvest, reimagine, reignite”, the call to action is urgent. Africa must lead the charge against malaria through renewed investment, bold innovation, and revitalised political will.

    Reinvest: Prevention is the most cost-effective intervention

    We – researchers, policymakers, health workers and communities – need to think smarter about funding. The economic logic of prevention is simple. It’s far cheaper to prevent malaria than to treat it. The total cost of procuring and delivering long-lasting insecticidal nets typically ranges between US$4 and US$7 each and the nets protect families for years. In contrast, treating a single case of severe malaria may cost hundreds of dollars and involve hospitalisation.

    In high-burden countries, malaria can consume up to 40% of public health spending.

    In Tanzania, for instance, malaria contributes to 30% of the country’s total disease burden. The broader economic toll – lost productivity, work and school absenteeism, and healthcare costs – is staggering. Prevention through long-lasting insecticidal nets, chemoprevention and health education isn’t only humane; it’s fiscally responsible.

    Reimagine: New tools, local solutions

    We cannot fight tomorrow’s malaria with yesterday’s tools. Resistance, climate-driven shifts in transmission, and urbanisation are changing malaria’s patterns.

    This is why re-imagining our approach is urgent.

    African countries must scale up innovations like the RTS,S/AS01 vaccine and next-generation mosquito nets. But more importantly, they must build their own capacity to develop, test and produce these tools.

    This requires investing in research and development, regional regulatory harmonisation, and local manufacturing.

    There is also a need to build leadership capacity within malaria control programmes to manage this adaptive disease with agility and evidence-based decision-making.

    Reignite: Community and collaboration matters

    Reigniting the malaria fight means shifting power to those on the frontlines. Community health workers remain one of Africa’s greatest untapped resources. Already delivering malaria testing, treatment and health education in remote areas, they can also be trained to manage other health challenges.

    Integrating malaria prevention into broader community health services makes sense. It builds resilience, reduces duplication, and ensures continuity even when external funding fluctuates.

    Every malaria intervention delivered by a trusted, local health worker is a step towards community ownership of health.

    Strengthened collaboration between partners, governments, cross-border nations, and local communities is also needed.

    The cost of inaction is unaffordable

    Africa’s malaria challenge is part of a deeper health systems crisis. By 2030, the continent will require an additional US$371 billion annually to deliver basic primary healthcare – about US$58 per person.

    For malaria in 2023 alone, US$8.3 billion was required to meet global control and elimination targets, yet only US$4 billion was mobilised. This gap has grown consistently, increasing from US$2.6 billion in 2019 to US$4.3 billion in 2023.

    The shortfall has led to major gaps in the coverage of essential malaria interventions.

    The solution does not lie in simply spending more, but in spending smarter by focusing on prevention, building local innovation, and strengthening primary healthcare systems.

    The responsibility is collective. African governments must invest boldly and reform policies to prioritise prevention.

    Global partners must support without dominating. And communities must be empowered to take ownership of their health.

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

    – ref. Beating malaria: what can be done with shrinking funds and rising threats – https://theconversation.com/beating-malaria-what-can-be-done-with-shrinking-funds-and-rising-threats-255126

    MIL OSI – Global Reports –

    April 24, 2025

  • MIL-OSI Russia: Applications are now being accepted for the II Competition for Young Scientists

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    The Sistema Charitable Foundation and the Russian Academy of Sciences (RAS) launched the 2nd Competition for Young Scientists, implemented within the framework of the Decade of Science and Technology with the support of the Federal Service for Intellectual Property (Rospatent) and a number of leading Russian technology companies.

    The competition is aimed at supporting applied innovative scientific developments and the latest research in priority sectors of the economy. Its goal is to promote the popularization of Russian science and education, and to create conditions for the development of students and young scientists in science-intensive areas.

    Citizens of the Russian Federation can take part in the Competition – one young scientist or a team of students and young scientists up to three people, presenting their scientific developments and research results in one of ten nominations:

    “Artificial Intelligence and Quantum Technologies”; “Hydrogen as the Basis of Green Energy”; “Digital Energy and Intelligent Systems”; “Genomic Technologies and Medicine of the Future”; “Bioinnovations: Technologies for Life”; “Space Exploration and Unmanned Systems: A Look into the Future”; “Microelectronics: From Chips to Smart Devices”; “The East is a Delicate Matter: Technological Breakthroughs in Asia”; “New Horizons in the Construction Industry”; “Chemical Technologies, Innovative Materials and Processes”.

    Applications for the Competition will be accepted on the Lift to the Future platform and will last until July 20, 2025. The names of the winners, selected based on the results of a two-stage examination, will be announced by November 1, 2025. The authors of the best innovative solutions and research results, in addition to funds, will receive information and expert support. The winners of the Competition in the “space” nomination will receive a special prize – their name will be sent into space on one of the satellites launched by the partner of the direction – Sputnix Group of Companies.

    Subscribe to the tg channel “Our State University” Announcement date: 04/24/2025

    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 –

    April 24, 2025

  • MIL-OSI: Best Payroll Software for Accountants (2025): QuickBooks Payroll Named Top Payroll Software Solution for Accountants by Software Experts

    Source: GlobeNewswire (MIL-OSI)

    New York City, April 24, 2025 (GLOBE NEWSWIRE) — QuickBooks Payroll was named the leading payroll software for accountants in 2025 by Software Experts, a well-regarded authority on software evaluations and industry trends. This designation follows a comprehensive evaluation of functionality, integration capabilities, compliance tools, and usability specific to accounting professionals.

    Best Payroll Software for Accountants:

    • QuickBooks Payroll – stands out for its powerful automation, accountant-centric features, and seamless QuickBooks integration.

    QuickBooks Payroll has demonstrated consistent performance across key metrics that matter most to the accounting profession, including automation accuracy, multi-client management capabilities, and tax compliance reliability. The review, conducted and published by Software Experts, highlights how the platform addresses the unique demands of modern accounting firms and independent practitioners.

    This announcement comes at a time when payroll compliance regulations are evolving, and accounting professionals are under pressure to maintain accuracy while managing growing workloads. The increased adoption of digital tools and cloud-based solutions in the financial services sector has further underscored the importance of scalable and dependable software.

    QuickBooks Payroll’s Alignment With Accountant Workflows

    Software Experts’ editorial team noted that QuickBooks Payroll’s integration with QuickBooks Online is one of the platform’s defining strengths. This connection enables automatic syncing of payroll data into general ledger accounts, minimizing the need for manual reconciliation and reducing data-entry errors.

    The platform also includes built-in support for time tracking and employee management, features that are becoming increasingly essential for firms that manage both full-time staff and contractors. Time-tracking data is captured and funneled directly into payroll processing, which supports more accurate wage calculations and reporting.

    Multi-client account access was highlighted as another key factor in the evaluation. Accountants using QuickBooks Payroll are able to toggle between client accounts from a unified dashboard, allowing for smoother operations and better organization across large portfolios. These features reduce administrative friction and make the platform particularly suited for firms serving multiple business clients.

    Automated Payroll and Compliance Management

    With payroll laws and tax regulations continuing to shift, compliance remains a top concern for professionals in the accounting field. QuickBooks Payroll offers automated tax filing and payment services, ensuring that all local, state, and federal obligations are met accurately and on time.

    Included in select plans is a tax penalty protection feature, which covers financial penalties up to a specified limit if tax filings processed through the platform contain errors. According to the Software Experts report, this function adds a layer of assurance, particularly for smaller firms that may lack in-house legal or tax compliance teams.

    Real-time updates to tax rates and labor regulations are automatically incorporated into the software, relieving accountants from the need to manually track changes across jurisdictions. This functionality aligns with broader trends in financial technology that emphasize automation and real-time compliance.

    Pricing Structure and Plan Comparison

    QuickBooks Payroll is offered through three main subscription plans: Core, Premium, and Elite. Each plan is designed to meet the needs of different organizational sizes and levels of payroll complexity.

    The Core plan provides full-service payroll and next-day direct deposit at an entry-level price point, which is often suited for basic payroll operations. The Premium plan introduces enhanced features such as time tracking and HR support, while the Elite plan includes same-day direct deposit, tax penalty protection, and access to a dedicated HR advisor.

    Software Experts’ analysis concluded that the tiered structure allows accounting professionals to select the most appropriate solution based on client volume, payroll complexity, and required support features. Furthermore, the ability to scale up or down without disrupting service continuity makes it a practical choice for firms in a growth phase or those managing a diverse range of clients.

    Industry Relevance and Market Impact

    The acknowledgment of QuickBooks Payroll as the top payroll software solution for accountants aligns with a broader industry shift toward specialized financial tools that support accounting professionals in managing compliance and increasing productivity. The selection criteria used by Software Experts reflect changing expectations in the financial software marketplace, where users seek platforms that combine automation with real-time visibility and security.

    Accounting professionals today face complex challenges, including remote workforce management, multi-state payroll processing, and evolving client needs. Platforms like QuickBooks Payroll that integrate directly with core accounting systems are gaining traction as firms prioritize efficiency and accuracy over manual systems.

    Software Experts noted that the shift toward integrated ecosystems is likely to accelerate in the coming year, with more accounting firms investing in platforms that support end-to-end financial management. QuickBooks Payroll’s ability to connect payroll, HR, and compliance workflows within one system contributes to its growing adoption among professionals seeking operational continuity.

    Regulatory Readiness and Future Outlook

    As governments continue to refine payroll tax requirements and introduce stricter labor regulations, the need for built-in compliance readiness is increasing. QuickBooks Payroll’s automated updates to regulatory changes, including tax codes and wage laws, position it to adapt to this evolving environment without adding administrative burden on end users.

    This capability is particularly valuable for accounting firms that operate across state lines or manage clients in regulated industries. Software Experts anticipates that compliance management will remain a leading factor in software adoption decisions through 2025 and beyond.

    Additionally, the demand for remote accessibility continues to grow, with firms increasingly managing payroll tasks outside traditional office environments. QuickBooks Payroll’s cloud-based model and mobile access functionality cater to this shift, supporting real-time data access and approvals from virtually any location.

    Conclusion

    Software Experts’ recognition of QuickBooks Payroll as the top payroll software for accountants in 2025 is based on its capacity to address core industry challenges, support accurate and compliant payroll management, and integrate with essential accounting systems. Its modular pricing, automated compliance tools, and accountant-focused features place it at the forefront of payroll solutions tailored for the financial services sector.

    The full review, including a detailed breakdown of features, use cases, and pricing comparisons, can be accessed at the Software Experts website.

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Best Gold IRA Company 2025: Augusta Precious Metals Review Announced by Affiliate Credo

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 24, 2025 (GLOBE NEWSWIRE) — Affiliate Credo, a financial content expert and SEO-driven review publisher, has officially named Augusta Precious Metals the Best Overall Gold IRA Company of 2025, based on its commitment to transparency, educational value, and commitment to long-term customer support.

    In its newly released announcement, Affiliate Credo highlights Augusta as the standout company among dozens of other gold IRA providers. The announcement is based on factual analysis and draws from market research, client feedback, and publicly available trust ratings and reviews. Augusta is praised for its ethical approach to helping Americans open gold IRA accounts without pressure or confusion.

    Augusta Leads the 2025 List of Gold IRA Companies

    In the Affiliate Credo announcement of the review, Augusta Precious Metals earned the #1 position among the best Old IRA companies due to several key strengths:

    • A strong educational foundation led by Harvard-trained economist economist Devlyn Steele
    • Transparent pricing and spreads
    • Lifetime customer support
    • A client-first, no-pressure philosophy and rollover process

    These factors are rare in an industry often criticized for aggressive sales tactics and unclear pricing.

    “We’ve analyzed the space thoroughly,” said the Affiliate Credo team. “Augusta isn’t just compliant — they lead with clarity and trust, which makes them the top pick for anyone considering a gold IRA in 2025.”

    A Safer Gold IRA Investing Experience for 50+ Americans

    Affiliate Credo’s announcement places particular emphasis on Augusta’s suitability for retirees and pre-retirees. For investors over the age of 50 looking to explore the best gold IRA accounts, Augusta’s structure is especially appealing when considering their:

    • No-pressure 1-on-1 web conference with on-staff precious metals specialists
    • Simple 4-step setup rollover process, guided by their a in-house support team
    • Independent custodians and secure storage options

    With an A+ rating from the BBB, AAA rating from BCA, and endorsements from well-known public figures, Augusta continues to build trust with cautious investors looking to diversify their retirement savings.

    Those researching the space are advised to read “10 Gold Dealer Lies” and “15 Bad Reasons to Buy Gold”, two exclusive reports that help buyers recognize common misleading tactics used by some providers.

    Download here: https://affiliatecredo.com/buyerbeware

    What Makes Augusta Different?

    As noted in the Affiliate Credo release, Augusta offers real value through education and clarity. Their services include:

    • One-on-one web conference designed by a Harvard-trained economist
    • A detailed explanation of how physical gold and silver IRAs work
    • Tools that help investors assess a company’s reliability before investing with them

    Take the Next Step with Confidence

    If you’re exploring the best options for a Gold IRA in 2025 and want to make an informed decision, Affiliate Credo recommends starting with these trusted resources that prioritize clarity and investor protection.

    Start by reviewing the following educational tools:

    • Gold IRA Comparison Checklist – Understand the most important criteria when choosing between Gold IRA providers.
      Access the full checklist and guide here: https://affiliatecredo.com/augustachecklist
    • Buyer Beware Reports – Learn what to avoid in the precious metals market with two fact-based resources:
      “10 Gold Dealer Lies” and “15 Bad Reasons to Buy Gold”
      Read them here: https://affiliatecredo.com/buyerbeware
    • Recognition Highlight – Discover why Augusta has been highlighted by major financial publishers for its professionalism and client-first approach.
      See the mention here: https://affiliatecredo.com/highlight

    National Recognition for Simplicity and Trust

    Outlets such as Money.com and others have spotlighted highlighted Augusta as a standout gold IRA provider thanks to its straightforward service model and strong track record of client satisfaction.

    This recognition reflects Augusta’s reputation for delivering a clear, supportive experience tailored for retirement-age investors. For those entering the Gold IRA space for the first time, this level of guidance and professionalism can make a meaningful difference.

    Learn more about this recognition: https://affiliatecredo.com/highlight

    Why Augusta Tops the 2025 Rankings

    In Affiliate Credo’s comparison, Augusta excelled in five key areas:

    1.   Education-first approach, not sales-driven pressure

    2.   No hidden commissions or fees

    3.   High third-party trust scores, including 1,000+ five-star reviews

    4.   Lifetime customer support, not just during initial account setup

    5.   Compliance-focused practices, avoiding risky language or guarantees

    “Other companies promise. Augusta educates,” the announcement notes. “That difference matters more than ever in 2025.”

    Who Is Augusta Best For?

    According to the report, Augusta is ideal for:

    • Individuals 50+ seeking safer retirement investing
    • Anyone opening or rolling over gold IRA accounts
    • Those who want a free gold IRA kit and comparison tools
    • Investors tired of pushy sales and hidden fees

    Although Augusta’s $50,000 minimum may not suit every investor, those who qualify benefit from exceptional support and structure.

    Final Statement from Affiliate Credo

    “Too many Americans are entering the gold IRA space without understanding what matters most…,” concludes the Affiliate Credo team. “That’s why we’re announcing Augusta Precious Metals as the top gold IRA company of 2025 — and encouraging investors to start with facts, not fear.”

    About Affiliate Credo

    Affiliate Credo provides expert-level comparison content, reviews for finance and retirement-related industries. Known for its transparent product analysis and SEO strategies, the platform helps readers make smarter decisions at every step of the buyer’s journey.

    New York, USA
    Email: hennadii.kamentsov@affiliatecredo.com
    Website: https://affiliatecredo.com

    Disclaimer: Augusta Precious Metals is not a financial advisory firm. This announcement does not constitute financial or tax advice. Always consult with a licensed professional before making investment decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc7369ec-c03d-49fe-9e0d-266a1485a456

    The MIL Network –

    April 24, 2025

  • MIL-OSI Europe: Workplace Relations Commission publishes 2024 Annual Report

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    24th April 2025

    The Workplace Relations Commission (WRC) today published its Annual Report for 2024.

    In welcoming the Report, Mr. Peter Burke, Minister for Enterprise, Tourism and Employment said:

     “The Annual Report for 2024 highlights the WRC’s strong delivery across all services provided to the public including inspection, the provision of information, conciliation, adjudication, mediation and other advisory services. In the Programme for Government, there is a firm commitment to support the central role played by the Workplace Relations Commission and the Labour Court in industrial relations and employment matters.”

    Minister Burke added, 

    “The WRC continues to play a critical role in ensuring that employment rights are upheld for all, recovering over €2 million in unpaid wages on foot of 5,156 inspections completed during 2024. The WRC plays a leading role in contributing to the harmonious industrial relations climate we enjoy, with data for conciliation services showing an 85% success rate.

    “Strong and well-functioning industrial relations institutions are an important and very valued element of our economy, supporting and promoting fair wages, particularly in low paid sectors. Collectively bargained agreements also play a positive role in increasing productivity for businesses.”

    Alan Dillon, Minister of State for Small Business and Retail at the Department also welcomed the Report, adding: 

    “The importance of the WRC is evident in the demand for its services with 59,400 calls to its information services, and over 4 million website views.

    Commenting on the WRC’s Digitisation initiatives, Minister Dillon added, 

    “I welcome that the WRC continued with its digitisation ambitions, introducing the second phase of its Robotic Process Automation in 2024 along with launching its eComplaint form.”

    Dr David Begg, Chairperson of the Board of the WRC commented:

    “The WRC continued to perform strongly in 2024, and its Annual Report for the year demonstrates the effectiveness of the WRC across the entire range of services it provides. Our aim is to continuously improve our offering to our stakeholders, and we are very grateful for the trust and confidence they repose in us.”

    Ms Audrey Cahill, Director General of the WRC, said:

    “The Annual Report 2024 offers a reflective overview of the year, highlighting our key achievements and milestones throughout 2024. It also provides a glimpse into the strategic planning currently underway, which is designed to propel the organisation forward and ensure the effective delivery of our vision—all while meeting the statutory obligations set out in our purpose. 

    “We remain responsive to the evolving demands placed on our services across all divisions. By closely monitoring socioeconomic trends and the ongoing expansion of employment rights, we continue to adapt and align our efforts to meet the changing needs of those we serve.”

    Ms Cahill concluded by thanking the Minister, our parent Department, the Workplace Regulation and Economic Migration (WREM) Division and all WRC Stakeholders for their support throughout the year.

    An infographic from the Report summarising the WRC’s key performance indicators in 2024, is included below, indicating:

    Information Services:

    Over 59,400 callers were helped by the WRC’s Information and Customer Service staff providing information on employment, equality, or industrial relations matters. There were over 4.3m pageviews of the WRC’s website.

    Inspections:

    A total of 5,156 inspections were completed in 2024 with €2.15m recovered in unpaid wages. Successful prosecutions were up 27% on 2023.

    Adjudications:

    The WRC saw an increase of 6% in Adjudication Hearings offered in 2024 compared to 2023. In total, 9,054 Adjudication files were offered a hearing in 2024, an average of 180 per week.

    Conciliation Service:

    The WRC’s Conciliation Service was involved in the resolution/prevention of a number of high-profile disputes. Its success rates remain high and continues to be above 85%.

    The new Public Service Agreement 2024- 2026 was agreed as a successor agreement to Building Momentum. This followed two months of intense negotiations between the Government and the Public Sector Trade Unions/Associations at the WRC.

    Mediations:

    The WRC pre-adjudication mediation service delivered a total of 894 mediations in 2024, which is a 14% increase compared to 2023.

    Code of Practice:

    The Code of Practice on the Right to Request Remote and/or Flexible Working was published on 7 March 2024.

    Outreach:

    WRC staff across all Divisions, attended over 60 outreach events involving a range of schools and colleges, enterprise bodies, business and employee representative bodies and state bodies. These events are a very useful and important method of engaging with the public to provide information on WRC services.

    Digital Strategy:

    The new online complaint form provides greater flexibility and was made available to the public in September 2024. This complaint portal replaces the old technology of the previous application form which many found difficult to use and was inaccessible for many service users.

    The Workplace Relations Commission Annual Report 2024 is available here

    NOTES TO EDITOR

    Workplace Relations Commission

    The Workplace Relations Commission was established on 1 October 201

    The main functions of the WRC are to:

    • Promote the improvement of workplace relations and the maintenance of good workplace relations,
    • Promote and encourage compliance with relevant employment legislation.
    • Provide guidance in relation to compliance with Codes of Practice,
    • Conduct reviews of, and monitor developments in, workplace relations generally,
    • Conduct or commission relevant research and provide advice, information and the findings of research to Joint Labour Committees and Joint Industrial Councils,
    • Advise the Minister for Enterprise, Trade and Employment on the application of, and compliance with, relevant legislation,
    • Provide information to the public in relation to employment legislation, (other than the Employment Equality Act).

    With a wide workforce of just over 235 staff, supplemented by 36 external adjudicators, and with offices in Dublin, Carlow, Cork, Ennis and Sligo, the WRC’s mission is to deliver high-quality service nationally, free of charge, which is

    • speedy, user-friendly, independent, effective, impartial, and cost-effective,
    • provides variable means of dispute resolution, redress, and effective enforcement, and improves workplace relations generally.

    Back to Department News

    Back to Top

    MIL OSI Europe News –

    April 24, 2025

  • MIL-OSI United Kingdom: Key forestry grants re-opened to support tree-planting ambitions

    Source: United Kingdom – Executive Government & Departments

    Press release

    Key forestry grants re-opened to support tree-planting ambitions

    Up to £4.1 million in grants is being made available across three grant offers to boost resilience and productivity in tree production

    Foresters, researchers, landowners, nurseries and seed suppliers are set to benefit today (Thursday 24 April) from up to £4.1 million to be made available to equip nurseries to enhance domestic tree and tree seed production to meet the ambitious statutory tree planting targets for climate, nature and people, while supporting green jobs, helping to boost growth in the sector.

    This will help ensure we plant treescapes that are resilient to stresses including climate change and pests and diseases, while bolstering capacity to meet the Government’s ambitious tree-planting targets.

    Forestry Commission Chair Sir William Worsley said:

    “Supporting domestic tree and tree seed production can be at the very root of growth opportunities for our sector. Our grants have the potential to ensure there is a reliable supply of diverse and high quality trees for future planting to the Government’s tree planting targets, improving timber security whilst boosting employment and the wider green economy.

    “I encourage all eligible applicants to come forward to help us support the sector to grow and thrive.”

    These grants have already seen funding awarded to a vast range of organisations across the public, private and third sectors, ranging from established tree and tree seed suppliers to new entrants to the sector. Previously supported projects can be found on our tree and seed production case studies page at: Tree and seed production case studies – GOV.UK.

    Through the Tree Production Capital Grant, for example, funding has enabled community tree nurseries to purchase polytunnels and seed processing equipment, and supported larger nurseries to invest in machinery to improve their efficiency.

    The Tree Production Innovation Fund unlocks new technologies that enhance the quantity, quality and diversity of tree planting stock, for example funding work into reducing synthetic fertiliser use in forestry which later led to crowding in of Danish venture capital seed to launch natural fertiliser company Re-Genus.

    It also supported Rhizocore Technologies to develop locally adapted mycorrhizal fungi pellets to enhance tree growth, resilience and greater carbon capture by soil. The pellets are designed to be placed into the topsoil with saplings during tree planting. They keep the fungal symbionts they contain alive for months, enabling the formation of mycorrhizal associations with the planted trees. Field data has shown sites using the pellets have significant improvements to both tree growth rates and survival rates.

    Dr Toby Parkes, Founder and CEO, Rhizocore, said:

    “Tree Production Innovation Fund funding has enabled Rhizocore to develop its products and systems, transitioning Rhizocore from a research phase to a commercial phase and enabled us to develop the first commercially scalable system for delivering live, locally sourced ectomycorrhizal fungi to field planting sites.

    “This foundational work has enabled Rhizocore to establish the data and systems needed for us to supply local ectomycorrhizal fungi to the forestry sector into the future.”

    Planning and planting new seed stands and orchards and management of existing seed stands are examples of eligible activities for Seed Sourcing Grant funding.

    Additional information:

    • The Tree Production Capital Grant (up to £2 million) aims to help suppliers increase their productivity and resilience and is designed for tree and tree seed suppliers of all sizes, as well as new entrants looking to diversify into the sector. It closes for applications on 25 June.
    • Read the Forestry Commission’s tree and seed production case studies.
    • The Tree Production Innovation Fund (up to £1.5 million) provides funding for innovative projects designed to overcome barriers to domestic tree production and is designed to improve the quantity, quality and diversity of tree planting stock in England. It closes on 9 July.
    • Read about previous successful Tree Production Innovation Fund projects.
    • The Seed Sourcing Grant (up to £600,000) provides funding to improve the quantity, quality and diversity of tree seed sources in England and will help to ensure the availability of diverse planting stock to meet tree planting targets. It closes on 19 August.
    • Read about previous successful Seed Sourcing Grant projects.

    To help those interested in applying, the Forestry Commission are hosting a range of ‘how to apply’ webinars and ‘knowledge transfer’ events, sign up for free:

    • Tree Production Innovation Fund Knowledge Transfer online event – Tues 20 May and Thurs 22 May
    • Tree Production Innovation Fund (TPIF): How to Apply webinar – Wed 28 May
    • Tree Production Capital Grant (TPCG): How to Apply webinar – Wed 4 June
    • Seed Sourcing Grant (SSG): How to Apply webinar – Thurs 12 June
    • To receive the latest news on these grants, sign up to the Forestry Commission’s e-alert.

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    Published 24 April 2025

    MIL OSI United Kingdom –

    April 24, 2025

  • MIL-OSI United Kingdom: Ban Airbnb tax breaks and introduce additional charges for short term lets

    Source: Scottish Greens

    24 Apr 2025 Housing

    Homes are for living in, not for profiteering.

    More in Housing

    The Scottish Greens have tabled plans to ban tax breaks for short term let operators profiteering from houses that could be used to tackle Scotland’s homelessness crisis.

    Green MSP Ross Greer has lodged an amendment to the Housing (Scotland) Bill which would ban short term let operators from receiving relief from Non-Domestic Rates (NDR), commonly known as business rates. A second amendment lodged by the MSP would give Ministers the power to charge short term lets an additional NDR rate instead.

    At present short term lets typically enjoy up to 100% NDR relief through policies such as the Small Business Bonus Scheme.

    These reforms would discourage businesses from buying up homes to turn into short term lets, like Airbnbs. It is hoped the move would encourage the sale of homes currently used as short term lets to free up housing for people to actually live in, rather than for businesses to profit from.

    Since the last election, the Scottish Greens have doubled the tax paid when buying a holiday home or buy-to-let property and given councils the power to double Council Tax on holiday homes.

    These reforms have had the desired effect on house purchases, with 2455 fewer second homes bought last year than in 2023, the largest decrease in a decade. Combined, these will also raise over a quarter of a billion pounds for public services in the current financial year.

    Mr Greer said:

    “There are communities across the country where the greed of short term let operators and buy-to-let landlords has destroyed any chance of local young people ever owning their own home.

    “Given the damage they’ve done to the housing market, there is absolutely no need for short term let operators to continue receiving massive tax breaks. Instead, they should pay a bit more in tax to fund the extra affordable housing we need to solve the crisis they helped to cause.

    “The changes already delivered by Green MSPs have reduced the number of second and holiday homes bought each year, freeing up more properties for people who need a home to live in and raising millions of pounds for vital services like schools and hospitals.

    “We will continue cracking down on the rich hoarding homes and working to free up houses for people to actually live in.

    “We have thousands of homeless people across Scotland while many homes are bought up and used as Airbnbs. The Scottish Greens believe housing should be for people and not for profit.”

    MIL OSI United Kingdom –

    April 24, 2025

  • MIL-OSI Global: Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas

    Source: The Conversation – France – By Matteo Winkler, Professeur associé en droit et fiscalité, HEC Paris Business School

    Recent months have seen a dramatic shift in US policies on diversity, equity, and inclusion (DEI). These changes carry deep economic consequences. President Donald Trump’s executive orders aim to ban DEI initiatives in federal agencies and contractors, and private companies have felt pressure to weaken or drop their DEI programmes. Trump has framed what was once a corporate safeguard against discrimination as “illegal and immoral”, marking a stark reversal in legal and business norms. Federal judges have blocked some of Trump’s orders, or elements of them, and some legal processes are ongoing.

    Transgender rights have become a lightning rod in this shifting landscape. The barrage of federal directives seeks to challenge – or outright eliminate – protections in areas ranging from health care to education to the military. Beyond the immediate harm to trans individuals, these policies pose threats to multinational companies that have long defended inclusive workplace values. Their leaders must now navigate a cultural minefield where staying silent risks public backlash, while openly supporting trans employees can invite legal and political complications. The business repercussions of this moral issue could affect everything from brand reputation to talent retention.


    A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!

    The economic imperative of DEI initiatives

    There is a growing ensemble of research suggesting that DEI policies are not just nice-to-have but a corporate imperative. This year, the World Economic Forum reported that organizations that include DEI in their core business strategies improve performance, innovation and employee satisfaction. These findings are in line with other studies, which have consistently demonstrated that inclusive workplaces not only attract top talent but perform better financially and have higher returns on assets and net income.

    With regard to people identifying as LGBTI+, a 2024 report by the Organization for Economic Co-operation and Development highlighted that inclusive policies enable LGBTI+ individuals to achieve their full employment and productivity potential, benefiting both their well-being and society at large. Moreover, according to Open for Business, a think tank whose mission is making a case for LGBTQ+ inclusion in private and public settings, companies with “larger LGBTQ+ workforce benefit from diverse perspectives but also foster environments where innovation and productivity thrive”. It has also been found that human rights violations against LGBTI+ people diminish economic output at the micro level, suggesting that inclusive societies are more likely to experience robust economic growth.



    À lire aussi :
    Business schools are facing challenges to their diversity commitments. They must reinforce them to train leaders effectively

    Research has also shown that trans-inclusive business practices have long been associated with innovation, employee satisfaction and market competitiveness. Companies that provide gender-neutral bathroom access, introduce the inclusive use of pronouns and support employees’ gender transitions have been proven to foster relational authenticity in the workplace.

    Discrimination and exclusion, by contrast, not only harm individuals but also impede economic growth by limiting the available talent pool and reducing overall productivity. In September 2024, the American Civil Liberties Union (ACLU) reported that “laws and policies designed to restrict or prevent access or supports for transgender and nonbinary people” endanger LGBTQ+ individuals and their allies, leading to increased fear, lack of safety and a rise in anti-LGBTQ+ violence. More generally, these laws and policies can also deter businesses from investing in regions perceived as discriminatory. Also in September, the Movement Advancement Project identified that the lack of legal protection against discrimination contributes to economic instability for LGBTQ+ families, which can lead to wage gaps, job insecurity and reduced access to benefits, ultimately contributing to reduced consumer spending and lower economic participation.

    Language targeting trans rights and visibility

    Despite the benefits of DEI initiatives, the current US administration has sought to enact several policies aimed at dismantling them, resulting in organizations, both public and private, to suspend funding for DEI and outreach programmes. In Trump’s executive orders, anything – policy, programme or initiative – related to or benefitting trans people in access to healthcare, academic research, scientific inquiry, school policies, personal safety, participation in sports, and military service is now rejected as “gender ideology extremism”.

    Targeting sports, education and the military is functional to an ideological battle aimed at erasing spaces where trans people are most vulnerable. These spaces are also formative arenas in shaping national identity and the public perception of DEI initiatives. When they become politicized, they can also affect how businesses frame their values, manage risks and engage with their different stakeholders.



    À lire aussi :
    Anti-DEI guidance from Trump administration misinterprets the law and guts educators’ free speech rights

    The anti-trans executive orders begin by redefining the term “sex” for interpretations of federal law. According to the text of “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to Federal Government”, a person is either male or female, which is determined by their reproductive cells at conception – a definition in which biology takes precedence over individual rights and legal protections. “Keeping Men Out of Women’s Sports” weaponizes this “biological truth” by threatening to cut off federal funds to schools that allow trans athletes to participate in them. “Prioritizing Military Excellence and Readiness” equates being transgender with medical or physical incapacity despite no evidence suggesting that trans service members negatively impact military readiness. “Ending Radical Indoctrination in K-12 Schooling” seeks to prevent schools from teaching about gender identity, which would strip trans youth of critical support systems. And “Protecting Children from Chemical and Surgical Mutilation” describes gender-affirming healthcare as “destructive”.

    The ripple effects of this anti-trans rhetoric extend into the private sector, compelling businesses to reevaluate their DEI strategies in fear of backlash or scrutiny. Even before the last US presidential election, companies such as Ford, Harley-Davidson and Lowe’s withdrew their participation in the Corporate Equality Index, a national benchmarking tool on corporate policies and practices related to LGBTQ+ workplace equality. In the wake of Trump’s anti-DEI and anti-trans orders, organizers of various Pride events in the US and Canada learned that some corporations, including longtime sponsors, had decided not to fund them. And according to the New York Times, some companies erased language and terms related to DEI from annual reports filed this year, including Dow Chemical, whose reference to LGBTQ+ employee resource groups disappeared from its public documents.

    Navigating between inclusive values and anti-DEI pressure

    Three patterns seem to be emerging on how companies are navigating the tension between values that are inclusive of LGBTI+ people and the growing pressure to scrub DEI commitments within the US context. For the moment, these patterns do not reflect formalized strategies but adaptive responses to an environment that has grown in complexity in a very short time. Some corporate actions reflect deliberate strategy aimed at protecting global consistency, while others appear more reactive, shaped by local market pressures.

    The first pattern involves establishing a sort of internal firewall between US and international operations. Banco Santander provides a clear example of this approach. Thus far, it has maintained global DEI commitments such as tying executive bonuses to increased gender equality in leadership. This group stated that such targets would not be applied to countries where governmental policies target DEI. In this pattern, DEI programmes are maintained abroad but are dismantled in the US to minimize political exposure in the latter.

    The second approach, observed at accounting firm Deloitte, is a cultural split between US operations and those overseas: while entities under the same global brand may still share data, practices, or strategic frameworks internally, they now adopt publicly distinct positions on DEI. Deloitte UK has remained vocal on its DEI commitments, highlighting the cultural and political fault lines that multinationals must now navigate.

    The third approach is a retraction of DEI altogether. Target offers a striking example. In 2023, under increased political and consumer pressure, the company rolled back some of its LGBTQ+ inclusion efforts by reducing the number of Pride-related items for sale. In 2025, four days after Trump’s inauguration, Target announced it would “end its three-year DEI goals”, cease reporting to the Corporate Equality Index and “end a program focused on carrying more products from Black- or minority-owned businesses”, as reported by CNBC. The moves resulted in considerable public criticism, and more notably, coincided with a marked drop in foot traffic – “nearly 5 million fewer visits” over a four-week period – revealing reputational and financial risks associated with the abandoning of DEI policies. By contrast, bulk retailer Costco, which said three days after the inauguration that its shareholders voted against a proposal seen as unfriendly to the company’s DEI programmes, “saw nearly 7.7 million more visits” during that same stretch.



    À lire aussi :
    A boycott campaign fuels tension between Black shoppers and Black-owned brands – evoking the long struggle for ‘consumer citizenship’

    In light of the evidence, it is clear that undermining DEI initiatives poses substantial risks – not just to human dignity, but to economic competitiveness. Businesses and policymakers must recognize that DEI is not merely a social or ethical imperative but a core strategy for growth and innovation. By fostering environments where all individuals can thrive, we unlock the full potential of our workforce and ensure sustainable economic growth.

    Conversely, discriminatory policies contribute to social instability, brain drain and economic stagnation. In the United States, the rollback of DEI initiatives and the marginalization of transgender individuals threaten to erode the nation’s ability to uphold human rights and maintain business competitiveness. History demonstrates that exclusionary policies ultimately harm societies rather than strengthen them. The question remains whether the US can afford to sacrifice social stability and economic growth in pursuit of ideological battles. The evidence suggests that it cannot.

    Matteo Winkler is a member of the Open for Business Academic Committee. He has received funding from the HEC Foundation.

    Marcelle Laliberté is a member of Women in Aerospace Europe and HEC We&Men, and a contributor to the UN`s High Advisory Board on Governing AI for Humanity.

    – ref. Threatening diversity, threatening growth: the business effects of Trump’s anti-DEI and anti-trans agendas – https://theconversation.com/threatening-diversity-threatening-growth-the-business-effects-of-trumps-anti-dei-and-anti-trans-agendas-255040

    MIL OSI – Global Reports –

    April 24, 2025

  • MIL-OSI: MG Stover Unlocks Next Chapter of Growth with Focus on OTTO

    Source: GlobeNewswire (MIL-OSI)

    Denver, CO, April 24, 2025 (GLOBE NEWSWIRE) — MG Stover, a pioneer in digital asset financial services since 2014, announced the successful completion of a strategic shift by the sale of its fund administration business to focus on its managed portfolio solutions platform, OTTO.

    Now operating as a fully independent entity, MG Stover is dedicating its efforts on OTTO, a service-backed digital asset platform positioned to lead in the evolving digital asset financial services environment. This transition reflects the company’s long-term commitment to innovation and client service. After concluding its relationship with PolySign in 2023, MG Stover strategically expanded its fund services business before entrusting it to Securitize.

    “We spent over a decade building one of the industry’s leading and most respected fund administration businesses, and we’re proud to have transitioned it in a way that ensures a seamless experience for our clients, supported by the same trusted team,” said Matt Stover, Founder and CEO. “This step empowers us to focus on where we can now make the biggest impact: providing the industry’s most robust, transparent, and service-driven digital asset accounting platform.”

    OTTO is backed by a team of professionals who have managed crypto reporting since 2014 and have worked directly with regulators. Unlike traditional software-only tools, OTTO is delivered through a service-first model that pairs real-time reporting and institutional-grade accounting logic with crypto-native support from professionals who understand the regulatory landscape of a 24/7 asset class.

    “We think of OTTO as service-as-a-software, not the other way around,” added Stover. “Institutional clients don’t just need tools. They need trusted partners who understand the data, the workflow, and the regulatory reporting expectations.”

    With a proven track record supporting over $40 billion in digital assets across various fund structures, protocols, and jurisdictions, OTTO’s foundation reflects this invaluable experience and expertise. The company is now focused on expanding its team, growing integration partnerships, and scaling OTTO’s adoption among institutional clients, capital market participants and centralized platforms.

    Building on this momentum, MG Stover is focused on developing the infrastructure institutions need to manage digital assets at scale. Through continued investment in OTTO and its ecosystem of partners, the firm is shaping a more resilient, transparent, and operationally sound future for the industry.

    “We are not just adapting to change; we are driving it, opening new horizons and redefining what’s possible in the financial landscape. As we embark on this exciting journey, MG Stover invites clients and partners to join us in exploring the limitless potential of this new chapter in digital assets,” concluded Stover.

    -ENDS-

    About MG Stover
    MG Stover has pioneered institutional solutions for digital asset funds since 2014, helping set the operational and accounting standards that underpin the industry. With fund administration roots and a team of accounting specialists at its core, the firm now focuses on advancing digital asset management infrastructure through OTTO, combining process, accuracy, transparency, and a service-first mindset.

    About OTTO
    OTTO is an advanced technology platform for the institutional digital asset management industry, designed to deliver real-time insights and comprehensive reporting solutions. Developed by professionals with deep expertise in digital assets, it combines automation and robust service to facilitate crypto portfolio tracking, reconciliation, and reporting. Built on systems that have supported over $40 billion in crypto investments, OTTO sets a new benchmark for reporting and operations across the digital asset ecosystem.

    For more information, visit https://ottodigital.io

    Media Contact: The Realization Group on behalf of MG Stover
    Melanie.budden@therealizationgroup.com

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Toobit Launches Gift, Now Supports Crypto Gifting on Telegram

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, April 24, 2025 (GLOBE NEWSWIRE) — Award-winning global digital asset trading platform Toobit today announces the launch of the Toobit Gifts Mini App on Telegram. This new feature allows users to send and receive cryptocurrency directly within the messaging app without the need for wallet addresses.

    Currently available to members of the Toobit Telegram community, users can choose between two gifting formats: Standard Gifts, where the total amount is split evenly among recipients, and Lucky Gifts, which introduces an element of surprise by distributing randomized amounts.

    To send a gift, users simply link their verified Toobit account to Telegram, select a gift type, confirm the amount, and send it—all within a few taps.

    “With Toobit Gifts, we’re making crypto more social, approachable, and convenient,” said Mike Williams, Chief Communication Officer at Toobit. “We’re meeting our users where they already are—in daily conversations—and giving them a secure, seamless way to share crypto in real time, helping integrate digital assets into everyday experiences.”

    Once received via Telegram, a Toobit Gift can be claimed with a single tap and is instantly credited to the user’s Toobit account. Claimed gifts are stored in the recipient’s Spot account and can be withdrawn at any time. Users can track all incoming and outgoing gift transactions directly through the Toobit app.

    The launch of Toobit Gifts follows a series of recent product rollouts, including Toobit Convert, which offers instant, zero-fee crypto swaps, and Toobit Earn, a program delivering over 250,000 USDT in staking rewards.

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

    Disclaimer: This is a paid post and is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5739988b-ffbf-4c2f-9ca9-997d4cdc82fc

    The MIL Network –

    April 24, 2025

  • MIL-OSI Russia: Interior finishing work has begun at the educational and scientific center of the Institute of Medicine and Medical Technologies of NSU

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    In the educational and scientific center of the Institute of Medicine and Medical Technologies (IMMT) of NSU, which is one of the second-stage facilities modern campus of NSU, which is being built within the framework of the national project “Youth and Children”, the interior decoration of the premises has begun. Work is underway to insulate the building, install partitions, lay the floor, and level the walls. In the building of the UNC IMMT NSU, an atrium skylight and mirrored ventilated facades have already been installed. In the near future, it is planned to prepare the space for the placement of laboratory equipment. The technical readiness of the facility has exceeded 30%.

    — In 2024-2025, we began implementing a large-scale program to transform medical education at the university, whose history goes back more than 20 years. We created the Institute of Medicine and Medical Technologies, received a license for new educational programs: bachelor’s degree in the direction of “Medical Cybernetics” and a master’s degree in the direction of “Industrial Pharmacy”. These are network programs that we implement jointly with the Engineering School of Moscow State University. The new educational and scientific center of the NSU IMMT will create the infrastructure to bring medical education to a fundamentally new level, increase the number of students – more than 700 people will be able to study in the new building, and conduct research in advanced biomedical areas, – commented the rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk.

    The building of the NSU IMMT UNC will house 8 laboratories in various fields, including molecular pharmacology, metabolomic research, medical chemistry, molecular virology and oncology, etc. It is important to note that the project for the development of medical education and scientific research at NSU “Creation of a center for the integration of personalized biomedicine, pharmacy and synchrotron, binary technologies” received support within the framework of the “Priority 2030” program.

    The construction of the NSU research center, which is also a second-stage facility, continues. The work on laying walls and partitions is 75% complete, the installation of stained glass windows and the installation of an external ventilated facade is 2/3 complete. The technical readiness of the facility is 28%.

    The general contractor for the construction of the second stage of the facilities is the company “MONOTEK STROY”.

    Let us recall that, on the instructions of President Vladimir Putin, a network of modern campuses is being created in Russia. By 2030, a constellation of 25 campuses should appear in the country. Work in this area is being carried out by the Government of the Russian Federation and the Ministry of Education and Science of Russia. Currently, 24 such campuses are being designed and built with the support of the national project “Youth and Children”. One of them has already been completely built in Moscow on the basis of the Bauman Moscow State Technical University. By 2036, the number of campuses will increase to 40. The project is being financed from the federal and regional budgets, as well as from extra-budgetary sources.

    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 –

    April 24, 2025

  • MIL-OSI Russia: Last year, in eight districts of the capital, driveways to buildings were improved under the renovation program

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Last year, specialists from the city services complex built access roads to 23 buildings under the renovation program. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “Work has been carried out to expand access roads to 23 buildings built as part of the renovation program. Seven such roads were built in the east of the capital, four in the Southern Administrative District, three in the Northern and South-Eastern Administrative Districts, two in the South-Western and North-Western Administrative Districts, and one in the North-Eastern and Western Administrative Districts,” said Pyotr Biryukov.

    The construction of residential buildings is taking place not only on starting sites in areas of existing development, but also on the sites of houses previously resettled under the renovation program.

    The head of the city economy complex noted that courtyard areas designed more than 60 years ago are often not suitable for the passage of construction and fire equipment. The development of new roads, which are then integrated into the district’s transport system, helps to solve this issue at the initial stage.

    In total, 12.6 kilometers of access roads with a total area of 75.6 thousand square meters were widened and almost 33 thousand square meters of sidewalks were equipped. Convenient ramps were made for people with limited mobility. In addition, over 32 thousand square meters of lawn were laid.

    For the comfort and safety of residents, about 150 lanterns with energy-efficient lamps were installed when arranging access roads to facilities built within the framework of the renovation program. Overhead lines were transferred to cable ducts.

    The renovation program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Earlier, Sergei Sobyaninordered to increasethe pace of implementation of the renovation program has doubled.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project“Infrastructure for life”.

    Get the latest news quickly official telegram channel the city of Moscow.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153096073/

    MIL OSI Russia News –

    April 24, 2025

  • MIL-OSI Europe: Schengen continues to facilitate lives of almost 450 million EU citizens, finds report

    Source: European Union 2

    The latest State of Schengen report shows that the Schengen area has brought profound benefits to the EU and its citizens in the last 40 years. The full entry of Bulgaria and Romania to the Schengen area in early 2025 strengthened the EU economy and Schengen rules are well applied across the area.

    MIL OSI Europe News –

    April 24, 2025

  • MIL-OSI: Vect-Horus appoints Philippe Masset to Board of Directors, in further strengthening of leadership

    Source: GlobeNewswire (MIL-OSI)

                                                                            PRESS RELEASE

    • C-Suite executive with more than 35 years’ experience in international banking
    • Brings important and complementary skills to support company’s development

    Marseille, France, April 24, 2025 – Vect-Horus, a privately held biotechnology company that designs and develops molecular vectors facilitating the targeted delivery of therapeutic molecules and imaging agents, today announced the appointment of Philippe Masset, a C–suite banking executive with more than 35 years of experience as a CEO of international banking entities, as a member of its Board of Directors.

    Philippe Masset has a successful track record in transformation and change management, and strong interest in investment banking, ESG topics, sustainable finance and AI. From 2014-2019, he was CEO of Degroof, where he oversaw a successful merger with Petercam and positioning of the new group, and he previously served as CEO and in several senior roles with ING.

    He is currently Chairman of Vicinity Affordable Housing Fund and a Board member at Edmond de Rothschild Europe and Guberna; and serves as a Senior Advisor to several financial companies including Blackfin, Syntagma and BDO.

    “We are delighted that Philippe Masset will be joining our Board at this point in time, which adds further highly relevant and senior expertise to Vect-Horus. His experience spans diverse sectors including investment banking, financial services, and non-profit governance, contributing to a broadened perspective on strategic oversight and corporate governance best practices,” said Alexandre Tokay, co-founder and CEO of Vect-Horus. “This is the third new appointment to the Board in recent months, all bringing important skills which are particularly suited to drive our mission to become the leader in the field of targeted drug delivery.”

    Philippe Masset said: “Boards have a crucial role to play in today’s business world, bringing important skills to contribute to and oversee a company’s development and strategy. The Vect-Horus Board includes hugely experienced individuals who provide important support to management. I’m excited to contribute to Vect-Horus as it builds on its impressive partnerships with major pharmaceutical companies, to deliver therapies to patients in urgent need of better treatment options.”

    About Vect-Horus

    Vect-Horus designs and develops vectors that facilitate targeting and delivery of therapeutic or imaging agents to organs, including the brain, and to tumors. Founded in 2005, Vect-Horus is a spin-off of the Institute for Neurophysiopathology (INP, UMR7051, CNRS and Aix Marseille University), formerly headed by Dr Michel Khrestchatisky, co-founder of the company. Vect-Horus has 42 employees (most in R&D).

    To learn more about Vect-Horus, visit www.vect-horus.com.

    Contacts

        For more information, please contact Vect-Horus

        Emmanuelle Bettendorf, BD & Alliance Management,

        Vect-Horus contact@vect-horus.com

        Media Relations

        Sophie Baumont, Cohesion Bureau – sophie.baumont@cohesionbureau.com

    Attachment

    • 2025-04-24 – Vect-Horus_Board Member_PR_EN_Final

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Invitation to townhall meeting for shareholders

    Source: GlobeNewswire (MIL-OSI)

    Orrön Energy AB (“Orrön Energy” or “the Company”) is pleased to invite shareholders to a townhall meeting in Stockholm on Tuesday, 20 May at 18:30 CEST. 

    During the townhall, a presentation will be given by the Company’s CEO, Daniel Fitzgerald, and CFO, Espen Hennie, outlining the Company’s performance, strategy, and future outlook. The townhall will offer shareholders the opportunity to meet and ask questions to representatives of the Company’s Board of Directors and management team.

    More information and registration can be found on: www.orron.com/townhall2025

    For further information, please contact:

    Robert Eriksson
    Corporate Affairs and Investor Relations
    Tel: +46 701 11 26 15
    robert.eriksson@orron.com

    Jenny Sandström
    Communications Lead
    Tel: +41 79 431 63 68
    jenny.sandstrom@orron.com

    Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany and France. With significant financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

    Forward-looking statements
    Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

    Attachment

    • Orrön Energy – Press Release Townhall invitation 2025 – 24042025en

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Zscaler ThreatLabz Uncovers Surge in AI-Driven Cyberattacks Targeting Critical Business Operations

    Source: GlobeNewswire (MIL-OSI)

    Key Findings:

    • Global phishing is down 20%, but attackers are striking deeper, not wider—targeting IT, HR, finance, and payroll teams with high-impact campaigns.
    • Telegram, Steam, and Facebook are top platforms for phishing – used for both impersonation and malware delivery.
    • Tech support and job scams increase with 159M+ hits in 2024, preying on users across social platforms.

    SAN JOSE, Calif., April 24, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today published its Zscaler ThreatLabz 2025 Phishing Report, analyzing over two billion blocked phishing attempts between January and December 2024 captured by the Zscaler Zero Trust Exchange™, the world’s largest cloud security platform. The annual report exposes how cybercriminals are using Generative AI to launch surgical, targeted attacks against high-impact business functions – and why a Zero Trust + AI defense strategy is mission critical. The report uncovers a shift from high-volume email blasts to targeted, AI-fueled attacks designed to evade defenses and exploit human behavior. It also offers actionable insight to help organizations defend against this evolving threat landscape.

    “The phishing game has changed. Attackers are using GenAI to create near-flawless lures and even outsmart AI-based defenses,” said Deepen Desai, CSO and Head of Security Research, Zscaler. “Cybercriminals are weaponizing AI to evade detection and manipulate victims, which means organizations must leverage equally advanced AI-powered defenses to outpace these emerging threats. Our research reinforces the importance of adopting a proactive, multi-layered approach—combining robust zero trust architecture with advanced AI-driven phishing prevention—to effectively combat the rapidly evolving threat landscape.”

    Emerging markets see a surge in phishing activity
    While phishing dropped overall by 20% globally and by nearly 32% in the U.S., due in part to rising email authentication standards, attackers transitioned just as fast, launching more attacks on emerging markets like Brazil, Hong Kong, and the Netherlands, often where digital adoption outpaces security investment. Established targets like India, Germany, and the UK remain under sustained pressure, as threat actors adapt to local patterns and seasonal trends.

    Community platforms fuel phishing growth
    Phishing campaigns are increasingly abusing community-based platforms like Facebook, Telegram, Steam, and Instagram – not only spoofing their brands, but using them to distribute malware, mask C2 communications, gather target intel, and carry out social engineering attacks. Meanwhile, tech support scams, where attackers pose as IT support teams to exploit urgency and safety concerns of victims, remain widespread with 159,148,766 hits in 2024.

    Threat actors capitalize on AI: Phishing-as-a-Service and AI deception on the rise
    Cybercriminals are using GenAI to scale attacks, generate fake websites, and craft deepfake voice, video, and text for social engineering. New scams mimic AI tools – such as resume generators and design platforms – tricking users into handing over credentials or payment data. Critical departments like payroll, finance, and HR are prime targets, along with executives – as they hold the keys to sensitive systems, information, and processes, and can more easily approve fraudulent payments.

    Cybercriminals are also creating fake “AI assistant” or “AI agent” websites, falsely offering services such as resume generation, graphic design, workflow automation, and more. As AI tools become increasingly integrated into daily life, attackers are capitalizing on the ease of use and trust around AI to drive unsuspecting users to fraudulent sites.

    Zscaler can help: Defending against AI threats with Zero Trust everywhere + AI
    As cybercriminals continue to use GenAI to develop new tactics and deliver more sophisticated attacks, enterprises need to strengthen their defenses against every type of compromise.

    The Zscaler Zero Trust Exchange protects users, applications, and data across all phases of the attack chain by:

    • Minimizing the attack surface
    • Preventing initial compromise
    • Eliminating lateral movement
    • Shutting down insider threats
    • Stopping data loss

    Zscaler AI-powered offerings add advanced protection by securing public AI use, shielding private AI models, and detecting AI-generated threats.

    Download the Report
    Get the full ThreatLabz 2025 Phishing Report to explore emerging trends and attack vectors. Learn why a Zero Trust + AI approach is critical to staying ahead of today’s phishing threats. Download today.

    Research Methodology
    Zscaler ThreatLabz analyzed 2 billion blocked phishing transactions between January–December 2024, exploring various aspects including the top phishing attacks, targeted countries, hosting countries for phishing content, distribution of company types based on server IP addresses, and the top referrers linked to these phishing attacks. Additionally, ThreatLabz tracked and examined notable phishing trends and use cases observed throughout 2024.

    About ThreatLabz
    ThreatLabz is the security research arm of Zscaler. This world-class team is responsible for hunting new threats and ensuring that the thousands of organizations using the global Zscaler platform are always protected. In addition to malware research and behavioral analysis, team members are involved in the research and development of new prototype modules for advanced threat protection on the Zscaler platform, and regularly conduct internal security audits to ensure that Zscaler products and infrastructure meet security compliance standards. ThreatLabz regularly publishes in-depth analyses of new and emerging threats on its portal, research.zscaler.com.

    About Zscaler
    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Media Contacts
    Nick Gonzalez
    Sr. Manager, Media Relations
    press@zscaler.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b96dd38-9f87-4353-85b3-13a0086fc129

    The MIL Network –

    April 24, 2025

  • MIL-OSI: JZMOR Breaks New Ground in Technological Innovation: High-Performance Matching Engine Empowers Global Traders

    Source: GlobeNewswire (MIL-OSI)

    GREENWOOD VILLAGE, Colo., April 24, 2025 (GLOBE NEWSWIRE) — Recently, JZMOR Exchange announced the official launch of its next-generation high-performance matching engine. This technological upgrade has elevated the order processing speed of the platform to the million-level threshold, marking a significant step forward for JZMOR in the era of high-frequency trading and delivering an unprecedentedly efficient trading experience for users.

    JZMOR CEO Marsh Noah stated: “We understand that in the rapidly evolving crypto market, trading efficiency and precision are critical to user success. The launch of the new matching engine not only overcomes technical bottlenecks but also significantly optimizes order processing and market responsiveness.”

    The high-performance matching engine, which took the JZMOR technical team two years to develop, is built on a globally advanced distributed computing architecture and features a deeply optimized matching algorithm. It achieves millisecond-level order matching response times. With its highly parallel processing capabilities, the engine can handle massive volumes of trading requests, greatly enhancing market depth and order execution efficiency.

    This breakthrough engine eliminates the speed limitations of traditional systems, ensuring that users can quickly seize trading opportunities in a rapidly changing market and avoid potential losses caused by system delays. For high-frequency traders, this represents a revolutionary upgrade in their trading experience.

    To ensure the stability and accuracy of order processing, JZMOR has integrated an AI-driven dynamic optimization mechanism into the new engine. This mechanism automatically adjusts system resource allocation based on real-time trading volume and market conditions, maintaining high operational stability even during periods of market volatility.

    With the launch of the next-generation matching engine, JZMOR has significantly improved trading efficiency, better meeting the global demand for high-frequency trading, low latency, and high-precision order matching.

    Looking ahead, JZMOR will continue to uphold its philosophy of “technology-driven innovation” by advancing research and iterative development to further enhance platform functionality. Marsh Noah emphasized: “The mission of JZMOR is to provide every user with equal opportunities to participate in the future of finance. Through continuous innovation, we aim to bring more possibilities to the digital asset market.”

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1adfe7d-70bb-4935-b2a9-017b9d299de2

    The MIL Network –

    April 24, 2025

  • MIL-OSI: MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont announce the successful completion of Mytheresa’s acquisition of YOOX NET-A-PORTER (“YNAP”)

    Source: GlobeNewswire (MIL-OSI)

    MYT Netherlands Parent B.V. (“Mytheresa”) and Richemont announce the successful completion of Mytheresa’s acquisition of YOOX NET-A-PORTER (“YNAP”)

    24 April 2025 – Mytheresa (NYSE:MYTE) successfully closed its acquisition of YNAP from Richemont (SWX:CFR), through its subsidiary Richemont Italia Holding S.P.A., following the fulfillment of all conditions including receipt of all unconditional approvals from the relevant regulatory authorities.

    Mytheresa is now YNAP’s sole shareholder which it will fully consolidate under the MYT Netherlands Parent B.V. umbrella. The company will be renamed “LuxExperience B.V.” and will continue to be listed on the New York Stock Exchange (NYSE) with the trade name “LuxExperience” and a new ticker symbol of “LUXE”, effective 1 May 2025.

    In exchange for all shares of YNAP and a net cash position of €555m and no financial debt, Richemont has received 49,741,342 shares in Mytheresa, representing 33% of Mytheresa’s fully diluted share capital post issuance of the consideration shares.

    Nora Aufreiter, Chair of the Supervisory Board of MYT Netherlands Parent B.V., said: “The successful acquisition marks a milestone in the great success story of Mytheresa. Our company will become a group that includes some of the best retail banners in digital luxury. We will use our proven strength to execute on our strategic plans and create even more value for our shareholders, brand partners, customers and employees. We are confident that in the course of the integration and restructuring we will become one of the strongest and most resilient global players in the digital luxury sector.”

    The store brands Mytheresa, NET-A-PORTER, MR PORTER, YOOX and THE OUTNET will be strengthened in their differentiated and complementary profiles. Significant synergies will be achieved primarily through a shared infrastructure and technology platform as well as operational efficiency improvements. The off-price division – consisting of YOOX and THE OUTNET – will be separated from the luxury division to enable a much simpler and more efficient operating model under the new roof. YNAP’s white label service business will be discontinued as soon as the Richemont Maisons’ online stores powered by YNAP have been migrated to their own chosen platforms.

    Forward-looking statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact or relating to present facts or current conditions included in this press release are forward- looking statements. Forward-looking statements give Mytheresa’s current expectations and projections relating to the completed transaction and the operation of the combined companies; its financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities, future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are based on assumptions that Mytheresa has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond Mytheresa’s control) and assumptions. Although Mytheresa believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward-looking statements. Mytheresa believes these factors include, but are not limited to: the risk that the completed transaction and its announcement could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; Mytheresa’s ability to effectively compete in a highly competitive industry; Mytheresa’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economic conditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalated after the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adversely impact consumer demand; Mytheresa’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; Mytheresa’s reliance on consumer discretionary spending; and Mytheresa’s ability to maintain average order levels and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, Mytheresa’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements.

    Mytheresa undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

    The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, Mytheresa’s results could differ materially from the results expressed or implied by the forward-looking statements it makes.

    You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent Mytheresa’s management’s beliefs and assumptions only as of the date such statements are made.

    Further information on these and other factors that could affect Mytheresa’s financial results is included in filings it makes with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in its annual report on Form 20-F and on Form 6-K (reporting its quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

    About Mytheresa

    Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported € 913.6 million GMV in fiscal year 2024 (+7% vs. FY23).
    For more information, please visit https://investors.mytheresa.com/.

    “LuxExperience” will be the trade name for LuxExperience B.V., a Dutch company with limited liability, upon completion of the renaming of MYT Netherlands Parent B.V.

    About Richemont

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/.

    Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange (JSE), Richemont’s secondary listing.

    Investor Relations Contacts
    Mytheresa.com GmbH
    Stefanie Muenz
    phone: +49 89 127695-1919
    email: investors@mytheresa.com

    Media Contacts for public relations
    Mytheresa.com GmbH
    Sandra Romano
    mobile: +49 152 54725178
    email: sandra.romano@mytheresa.com

    Media Contacts for business press
    Mytheresa.com GmbH
    Lisa Schulz
    mobile: +49 151 11216490
    email: lisa.schulz@mytheresa.com

    Media Contacts for business press
    BOC Consult GmbH
    Ruediger Assion
    mobile: +49 176 2424 7691
    email: ruediger.assion@boc-consult.com

    Richemont Contacts
    Investor / analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
    Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

    Source: MYT Netherlands Parent B.V.

    Click here for a printer-friendly version in English (PDF)

    The MIL Network –

    April 24, 2025

  • MIL-OSI Russia: Applications are now open for the National Prize in Financial and Economic Journalism

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    In Russia, the best journalistic works in the field of economics and finance will be selected as part of the annual national award “Finkor”. Applications for participation in the competition can be submitted until August 10 on the website fincor.rf.

    “Finance and economics are the basis for the stable development of society and the state. It is necessary for not only specialists in the field to be aware of what is happening, but also for all citizens of our country. Journalism serves as a bridge between the world of finance and the general public. The ability to talk about complex topics in an accessible language requires great skill and knowledge. It has already become a tradition to award the authors of the best journalistic works in the field of economics and finance at the Moscow Financial Forum. I am sure that this year we will also discover new names and recognize professionals, the best in their field,” said Irina Okladnikova, First Deputy Minister of Finance of the Russian Federation.

    This year, the competition for the award is being held for the fourth time. Representatives of Russian mass media, including radio and television broadcast editors, teams and individual publicists — professional journalists, representatives of online publications, authors of Telegram channels and bloggers covering economics and finance, as well as students of specialized faculties of Russian universities are invited to participate.

    “Economic and financial information is one of the most in-demand in the modern world. The constantly changing situation in the Russian and international economy requires journalists to painstakingly work with figures and facts, the ability to clearly present complex information and quickly convey it to readers. The Fincor Prize helps to identify the best practices in covering financial and economic processes and increase interest in these topics on the part of journalists. During the award, the number of submitted works has increased almost fourfold – from more than 200 applications in 2022 to almost 800 last year,” said

    Maria Bagreeva, Deputy Mayor of Moscow, Head of the Moscow Department of Economic Policy and Development.

    To participate, you must submit articles, interviews, reports, recordings of television broadcasts, podcasts, radio programs and other journalistic materials, as well as journalistic projects published in print or online publications, posted on the Internet, in Telegram channels, on radio or television in the period from August 1, 2024 to August 1, 2025.

    The award ceremony will take place within the framework of the IX Moscow Financial Forum, which will be held in the Manezh in the fall. Detailed information about the nominations and the award regulations are posted on the website fincor.rfYou can also apply for participation there.

    The Fincor National Award was established in 2022 by the Moscow City Economic Policy Complex jointly with the Ministry of Finance of the Russian Federation.

    Its goal is to identify best practices for covering financial and economic processes in the country.

    The partners of the award this year are the Research Financial Institute of the Ministry of Finance of the Russian Federation, the Vmeste Media platform, the Free Economic Society of Russia, the Union of Journalists of Russia, the Patrice Lumumba Peoples’ Friendship University of Russia, the A.S. Griboyedov Moscow University, the Moscow University of Finance and Law, the St. Petersburg State University of Economics, the Institute of Media of the Research University Higher School of Economics, the Higher School of Journalism of Tomsk State University and the youth center of the Union of Journalists of Russia.

    Get the latest news quickly official telegram channelthe city of Moscow.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/153088073/

    MIL OSI Russia News –

    April 24, 2025

  • MIL-OSI: Eurocastle Releases Fourth Quarter and Year End 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    EUROCASTLE INVESTMENT LIMITED

                                                                                                                                                                                                                FOR IMMEDIATE RELEASE
    Contact:        
    Oak Fund Services (Guernsey) Limited
    Company Administrator
    Attn: Nicole Barnes
    Tel: +44 1481 723450        

    Eurocastle Releases Fourth Quarter and Year End 2024 Financial Results

    Guernsey, 24 April 2025 – Eurocastle Investment Limited (Euronext Amsterdam: ECT) today has released its annual report for the year ended 31 December 2024.

    • IFRS NAV of €22.08 million, or €22.05 per share vs €21.34 per share as at Q3 2024 and €21.77 per share as at YE 2023, reflecting an increase in the value of the Company’s holding in a Luxembourg fund under the New Investment Strategy, following the closing of its first investment in October 2024.
    • Adjusted Net Asset Value (“NAV”) of €11.35 million1, or €11.34 per share2 vs. €10.91 per share in Q3 2024 and €11.12 per share as at YE 2023.

            The tables below summarise the NAV by segment:

                         
        YE 2024 NAV   Q3 2024 NAV   YE 2023 NAV
        €’m € p.s.   €’m € p.s.   €’m € p.s.
    New Investment Strategy – Greece   5.77 5.76   0.11 0.11   0.10 0.10
    Legacy Italian Real Estate Funds   0.06 0.06   0.06 0.06   0.08 0.08
    Net Corporate Cash3   12.28 12.26   17.47 17.45   17.83 17.86
    Legacy German Tax Asset   3.97 3.97   3.73 3.72   3.73 3.73
    IFRS NAV   22.08 22.05   21.37 21.34   21.74 21.77
                       
    Legacy German Tax Reserve4   (5.99) (5.97)   (5.44) (5.43)   (5.46) (5.46)
                       
    Adjusted NAV before Liquidation Reserve   16.09 16.08   15.93 15.91   16.28 16.31
                       
    Liquidation Reserve4   (4.74) (4.74)   (5.00) (5.00)   (5.18) (5.19)
                       
    Adjusted NAV   11.35 11.34   10.93 10.91   11.10 11.12
    Ordinary shares outstanding   1,001,555   1,001,555   998,555
                         
                         

    As at 31 December 2024, the Company’s assets mainly comprise:

                1.   €12.28 million, or €12.26 per share, of net corporate cash, which is available to continue seeking investments under the New Investment Strategy.

                2.   €5.77 million, or €5.76 per share, in the Company’s first investment under the New Investment Strategy, a share in a Luxembourg fund which has opportunistically acquired a boutique retail complex in an affluent part of Athens, Greece.

                3.   A tax asset of €3.97 million, or €3.97 per share, representing amounts paid (and associated interest) in relation to additional tax assessed against a legacy German property subsidiary where the Company won the first instance of its appeal in December 2024. The German tax authorities have since appealed the decision and the Company is waiting for the date of the next hearing.

                4.   Residual interests in two legacy Italian Real Estate Fund Investments with an NAV of €0.06 million, or €0.06 per share, where the underlying properties have been fully sold, with both funds now in liquidation.

    2024 BUSINESS HIGHLIGHTS

    FY 2024 Overview

    During 2024, having largely concluded its Realisation Plan, the Company made significant progress in implementing the New Investment Strategy by establishing the platform through which it can raise third party capital and make investments, while also closing on the first acquisition made as part of this strategy.

    Highlights

    • New Investment Strategy – In August 2024, Eurocastle launched a Luxembourg regulated fund, European Properties Investment Fund S.C.A., SICAV RAIF (“EPIF” or the “Fund”), through which it expects to invest alongside selected external co-investors. EPIF initially closed with Eurocastle committing to invest €8 million alongside a €2 million commitment from its JV Partner. EPIF is now being marketed to potential investors with a target size of €100 million.
    • In addition to generating attractive risk adjusted returns on its share of any investments made, Eurocastle also anticipates receiving market standard management and incentive fees from external investors. The Company sees the Fund as an attractive opportunity to earn enhanced returns on the capital it invests while also building a meaningful base for future investments.
    • In October 2024, the Fund made its first acquisition, being part of a boutique retail complex in an affluent part of Athens with Eurocastle investing a total of €5.5 million into the Fund. The asset was acquired from one of the largest Greek banks out of a distressed situation. As at the end of 2024, Eurocastle’s 80% share in the NAV of EPIF is €5.8 million. In parallel with executing this first investment, EPIF has been underwriting a number of additional opportunities.
    • Legacy Italian Real Estate Funds –The remaining NAV for these investments of €0.06 million, or €0.06 per share, reflects cash currently reserved in the funds that is expected to be released once the fund manager resolves certain potential liabilities and liquidates each fund.
    • Legacy German Tax Matter – Prior to 2024, the Company had paid a net amount of €3.7 million in relation to the Legacy German tax matter against which it has raised a corresponding tax asset (together with associated interest). The Company, in pursuing the reimbursement of this amount through the German fiscal court, won the first instance of its appeal in December 2024. Shortly after, the German tax authorities appealed the decision through the German federal tax court and the Company is currently waiting to be notified of the date of the hearing. In the meantime, €2.5 million of the €3.7 million of additional tax paid by the Company, being the additional tax assessed before late payment interest, is accruing interest at 6% per annum, which would be paid to the Company should it finally prevail in the case.
    • The remaining potential exposure, associated with the same point under dispute, is estimated to be €1.7 million. This relates to the years 2013 to 2015 which remain subject to ongoing tax audits. Notwithstanding the Company’s expectation that the tax matter will eventually be resolved in the Company’s favour, as at 31 December 2024, the full potential liability of €6.0 million, or €5.97 per share (including associated defence costs and interest accrued), is fully reserved for within the Additional Reserves.
    • Additional Reserves – As at 31 December 2024, of the total Additional Reserves of €10.7 million, €6.0 million related to the legacy German tax matter with the balance of approximately €4.7 million in place to allow for future costs and potential liabilities while the Company pursues in parallel the New Investment Strategy. The Board anticipates reviewing the appropriate level of reserves once it has further clarity on the amount of commitments received by EPIF.

    Subsequent Events

    On April 23rd, 2025, EPIF successfully held its first investor close, securing €16 million of commitments from 10 investors taking the total fund size to €26 million. Currently, a significant number of potential additional commitments are at advanced stage of due diligence, with a further close expected in May 2025.

    The commitments closed on 23 April 2025 will reduce Eurocastle’s interest in the Fund from 80% to approximately 31%. As a result, the new investors will reimburse Eurocastle an estimated total of €3.5 million of the €5.5 million it had invested to date in EPIF. This reimbursement is to align Eurocastle’s revised pro rata share of the capital called plus compensatory interest. The amount to be paid to Eurocastle is substantially in line with the relevant share of Eurocastle’s valuation of its interest in EPIF as at 31 December 2024.

           
         

    Income Statement for the Fourth Quarter 2024, Full Year 2024 and Full Year 2023

    		 Q4 2024 FY 2024 FY 2023
      € Thousands € Thousands € Thousands
    Portfolio Returns      
    New Investment Strategy – Greece unrealised fair value movement 429 273 –
    Legacy Italian NPLs & Other Loans realised gain                          – – 2
    Legacy Italian Real Estate Funds unrealised fair value movement                        – (18) (50)
    Fair value movement on Investments                       429 255 (48)
    Other Income 100 113 2
    Interest income                            345 827                            519
    Loss on foreign currency translation                             – (1) (2)
    Total income                        874 1,194 471
           
    Operating Expenses      
    Manager base and incentive fees 42 103 94
    Remaining operating expenses 115 745 1,012
    Other operating expenses 157 848 1,106
    Total expenses 157 848 1,106
           
    Net profit/(loss) for the period/year 717 346 (635)
    € per share 0.72 0.35 (0.64)
      Balance Sheet and Adjusted NAV Reconciliation as at 31 December 2024 New Strategy Investments Greece Legacy Italian

    Investments

    		 Corporate Total Total
              2024 2023
        € Thousands € Thousands € Thousands € Thousands € Thousands
    Assets          
      Other assets – – 315 315 210
      Legacy German tax asset – – 3,974 3,974 3,727
      Investments – New Investment Strategy – Greece 5,770 – – 5,770 –
      Investments – Legacy Italian Real Estate Funds – 64 – 64 82
      Cash, cash equivalents and treasury investments          
      Cash and cash equivalents – – 12,415 12,415 13,951
      Treasury investments – – – – 4,236
    Total assets 5,770 64 16,704 22,538 22,206
    Liabilities          
      Trade and other payables   – 389 389 425
      Manager base and incentive fees   – 63 63 41
    Total liabilities   – 452 452 466
    IFRS Net Asset Value 5,770 64 16,252 22,086 21,740
    Liquidation cash reserve – – (4,748) (4,748) (5,185)
    Legacy German tax cash reserve – – (2,008) (2,008) (1,728)
    Legacy German tax asset – – (3,974) (3,974) (3,727)
    Adjusted NAV 5,770 64 5,522 11,356 11,100
    Adjusted NAV (€ per Share) 5.76 0.06 5.52 11.34 11.12

    NOTICE:

    This announcement contains inside information for the purposes of the Market Abuse Regulation 596/2014.

    ADDITIONAL INFORMATION

    For investment portfolio information, please refer to the Company’s most recent Financial Report, which will be available on the Company’s website (www.eurocastleinv.com).

    ABOUT EUROCASTLE

    Eurocastle Investment Limited (“Eurocastle” or the “Company”) is a publicly traded closed-ended investment company. On 8 July 2022, the Company announced the relaunch of its investment activity and is currently in the early stages of pursuing its new strategy by initially focusing on opportunistic real estate in Greece with a plan to expand across Southern Europe. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.

    FORWARD LOOKING STATEMENTS

    This release contains statements that constitute forward-looking statements. Such forward-looking statements may relate to, among other things, future commitments to sell real estate and achievement of disposal targets, availability of investment and divestment opportunities, timing or certainty of completion of acquisitions and disposals, the operating performance of our investments and financing needs. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may”, “will”, “should”, “potential”, “intend”, “expect”, “endeavor”, “seek”, “anticipate”, “estimate”, “overestimate”, “underestimate”, “believe”, “could”, “project”, “predict”, “project”, “continue”, “plan”, “forecast” or other similar words or expressions. Forward-looking statements are based on certain assumptions, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. The Company’s ability to predict results or the actual effect of future plans or strategies is limited. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, its actual results and performance may differ materially from those set forth in the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that may cause the Company’s actual results in future periods to differ materially from forecasted results or stated expectations including the risks regarding Eurocastle’s ability to declare dividends or achieve its targets regarding asset disposals or asset performance.

    1 In light of the Realisation Plan announced in November 2019, the Adjusted NAV as at 31 December 2024 reflects additional reserves for future costs and potential liabilities, which have not been accounted for under the IFRS NAV (“Additional Reserves”). No commitments for these future costs and potential liabilities existed as at 31 December 2024.
    2 Per share calculations for Eurocastle as at 31 December 2024 are based on 1,001,555 shares in issue. YE 2023 NAV per share based on 998,555 shares; Q3 2024 NAV per share based on 1,001,555 shares.
    3 Reflects corporate cash net of accrued liabilities and other assets.

    4 Reserves that were put in place when the Company realised the majority of its investment assets in 2019 in order for the Company to continue in operation and fund its
    future costs and potential liabilities. These reserves are not accounted for under IFRS.

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Haffner Energy unveils Hynoca® Flex 500 IG: A flexible, cost-effective alternative to grey hydrogen and fossil fuels

    Source: GlobeNewswire (MIL-OSI)

    Haffner Energy unveils Hynoca® Flex 500 IG: A flexible, cost-effective alternative to grey hydrogen and fossil fuels

    Cogeneration of hydrogen and electricity offers a unique solution for managing random hydrogen demand

    Vitry-le-François, France – April 24, 2025, 08:00am (CET)

    Haffner Energy introduces Hynoca® Flex 500 IG, a line of hydrogen production units capable of producing 12 tonnes of green hydrogen per day to be delivered under €3/kg without subsidies. Hynoca®Flex 500 IG also enables the production of cost-competitive renewable electricity to manage fluctuations in hydrogen demand or ensure energy autonomy.

    “The expectations for hydrogen are extremely high, but they remain significantly constrained by the chicken-and-egg problem and the high cost of green hydrogen production,” said Philippe Haffner, Co-founder and CEO of Haffner Energy. “Our Hynoca® Flex 500 IG solution simultaneously addresses both challenges, in a market worth over €100 billion worldwide. This is a major milestone for our company, which is expected to have a significant impact on our 2025 results, and which should also enable us to build up our order book for the coming years. More generally, it’s clearly a major paradigm shift for the global hydrogen ecosystem.”

    Thanks to existing subsidies, grants or tax credits available in most developed countries, green hydrogen is now clearly cost-competitive with grey (fossil-based) hydrogen, while providing much more flexibility and bringing a carbon-free solution. Not only does hydrogen and electricity cogeneration provide a unique solution for managing fluctuating hydrogen demand, it can also ensure energy autonomy of the system or even create opportunities in off-grid locations.

    A major breakthrough for the hydrogen market

    With unmatched flexibility, optimized energy efficiency (80%), and near-independence from power grids, Hynoca® Flex 500 IG emerges as a scalable decentralized alternative to grey hydrogen and fossil fuels. The technology is modular and standardized, which ensures reliable and replicable deployment at scale. Available worldwide, the first units can be reserved starting today, with commissioning of the first units early 2027.

    A significant EBITDA contribution starting this year

    Hynoca® Flex 500 IG is expected to make a significant contribution to Haffner Energy’s revenue – and above all to its EBITDA – for the current fiscal year, notably through paying engineering studies. The company reiterates its objective to reach EBITDA breakeven by March 31, 2026.

    Cost-effective, modular green hydrogen

    Hynoca® Flex 500 IG combines performance and modularity to meet industrial and mobility needs:

    • Flexible production, requiring minimal or no grid dependency
    • Optimization of CAPEX and OPEX, ensuring that hydrogen can be commercialized under €3/kg without subsidies Over 80% energy efficiency, maximizing process performance
    • Rapid deployment, free from grid infrastructure constraints
    • Standardized design, ensuring predictable performance and simplified integration

    A syngas with unmatched competitiveness

    Hynoca® Flex 500 IG generates highly competitive syngas, the precursor to hydrogen. Its low cost opens up new economic opportunities beyond hydrogen production.

    • Profitable peak-hour electricity generation: The cost of syngas is so competitive that it enables power production during peak hours, making it an economically viable solution to balance hydrogen demand fluctuations.
    • Operational security without rigid contracts: This flexibility allows plant operators to maintain stable production without requiring rigid offtake agreements.

    By combining hydrogen and electricity generation, Hynoca® Flex 500 IG ensures continuous operation, optimizing revenue streams and enhancing economic resilience, making final investment decisions (FID) easier.

    A strategic complement to electrolysis and power-to-liquid (PTL)

    Each Hynoca® Flex 500 IG unit generates 58,000 tonnes of biogenic CO₂ per year, a key resource for PTL (e-fuels) production and a critical enabler for hydrogen from electrolysis.

    • 58,000 tonnes of renewable CO₂ can convert 5,230 tonnes of hydrogen into 42,000 tonnes of e-methanol (or 18,000 tonnes of e-SAF), easy to transport and store
    • 5,230 tonnes of hydrogen is the volume produced each year by 60 MW of electrolyzer capacity (4,000 hours/year load factor)
    • Strategic synergy between Hynoca® Flex 500 IG and electrolysis plants, structuring the hydrogen economy

    Hynoca® Flex 500 IG not only delivers competitive hydrogen, but it also supports the expansion of electrolysis by providing a reliable source of competitive biogenic CO2.

    Proven, standardized technology for industrial scale deployment

    Hynoca® Flex 500 IG builds on Hynoca® technology, already operational at the Center for hydrogen production, testing and training in Marolles, France. This unit has been producing hydrogen that meets mobility standards.

    Scaling up this technology ensures industrial continuity with no technical risks, optimizing implementation for large-scale projects.

    Hynoca® process accepts all possible organic renewable feedstocks, including agricultural residues, sludge, manure, municipal sorted waste, and woody by-products, supporting a circular, low-carbon economy with a near-zero carbon footprint. Compatibility with all organic feedstocks means considerably lower costs, while at the same time significantly improving security of supply.

    Each Hynoca®Flex 500 IG unit consumes approximately 31,000 tonnes of dry plant-based biomass per year.

    Reservations system to manage market demand

    A recent market survey conducted by Haffner Energy indicates that demand for Hynoca® Flex 500 IG will far exceed the company’s current industrial and commercial capacity.

    To structure production and ensure timely deployment, a reservations system is currently being prepared and will open in 2025 Q3. In the meanwhile, requests for quotations can be made to the company in advance.

    Reservations, which will involve the payment of an upfront fee, constitute a win/win system for the company and its customers, allowing in particular:

    • Guarantee that customers will be served in the face of demand that is expected to far exceed supply
    • Secure delivery timelines and fixed pricing
    • Substantial savings on typical FID (Final Investment Decision) costs
    • Assistance with feedstock sourcing plans

    This system prioritizes committed clients while allowing flexibility for project development, helping to align industrial production capacity with actual market needs.

    About Haffner Energy

    Haffner Energy is a French company providing solutions for the production of competitive clean fuels. With 32 years of experience converting biomass into renewable energies, it has developed innovative proprietary biomass thermolysis and gasification technologies to produce renewable gas, hydrogen and methanol, as well as Sustainable Aviation Fuel (SAF). The company also contributes to regenerating the planet, through the co-production of biogenic CO2 and biocarbon (or char/biochar). Haffner Energy is listed on Euronext Growth. (ISIN code: FR0014007ND6 – Ticker: ALHAF).

    Media relations

    HAFFNER ENERGY

    Laure BOURDON

    laure.bourdon@haffner-energy.com
    +33 (0) 7 87 96 35 15

    Sales relations

    sales@haffner-energy.com

    Investor relations

    investisseurs@haffner-energy.com

    Attachment

    • PR_Hynoca Flex 500 IG ENG_VF

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Flow Traders Leadership Update

    Source: GlobeNewswire (MIL-OSI)

    Flow Traders Leadership Update

    Amsterdam, the Netherlands – Flow Traders Ltd. (Euronext: FLOW) announces that Mike Kuehnel has conveyed to the Board of Flow Traders Ltd. his intention not to seek re-election as Chief Executive Officer (CEO) for another full term at the 2025 Annual General Meeting (AGM). He will leave Flow Traders at the end of August to pursue a new opportunity. To ensure a seamless leadership transition, Mike has agreed to be nominated for re-election as CEO at the upcoming AGM on 13 June 2025, with his renewed term extending until 31 August 2025. The Board has initiated a search for his successor.

    Furthermore, Marc Jansen will be nominated for election as Executive Director of Flow Traders Ltd. at the forthcoming AGM. Marc has played an instrumental role in developing and expanding Flow Traders’ trading footprint. He is also a current member of the Management Board of Flow Traders B.V., the firm’s largest operating entity. In addition, Marc Jansen and Alex Kieft will be appointed as Co-Chief Trading Officers, effective immediately. They will jointly manage the Global Trading Division, focusing on expanding the Company’s trading operations across multiple asset classes and geographies.

    Mike Kuehnel
    Mike joined Flow Traders in August 2021 and was elected as Chief Financial Officer (CFO) in September 2021 and subsequently appointed to the role of CEO in February 2023. During his term, Mike has been instrumental in systematically strengthening the firm by enhancing its position as a leading globally diversified trading firm. Specifically, in 2024, he initiated Flow Traders’ Trading Capital Expansion Plan, which successfully contributed to the firm’s second-best financial year in its 20-year history.

    Under Mike’s leadership, and in collaboration with the entire leadership team, the firm has launched several strategic initiatives aimed at enhancing efficiency through automation as well as enhancing the firm’s structure with the objective of building a fully scalable organization. As part of the firm’s strategy, Mike has played a pivotal role in developing Flow Traders’ global leadership team and in attracting key talent to enhance the firm’s capability set. Subsequently, Mike has facilitated new strategic partnerships across global financial markets, allowing the firm to capitalize on new revenue opportunities to accelerate the growth of the Flow Traders.

    Marc Jansen
    Marc joined Flow Traders in 2013 as a Trader and became Head of Trading EMEA in 2018. He continued playing a pivotal role in building out the firm’s trading operations, when he moved to the Americas, where he assumed the role of Managing Director, before being appointed Head of Trading with a focus on Digital Assets in 2021. He became Global Head of Trading and Management Board Member of Flow Traders B.V. in January 2024. Effective immediately, Marc will be appointed as Co-Chief Trading Officer.

    Alex Kieft
    Alex joined Flow Traders in 2014 as a Trader and was appointed Head of Trading EMEA in 2019, followed by Global Head of Trading with a focus on equities in 2022. Effective immediately, Alex will be appointed as Co-Chief Trading Officer and will lead the firm’s Global Trading Division alongside Marc Jansen.

    Rudolf Ferscha, Chairman of the Board, stated:
    “Flow Traders has evolved beyond its foundational trading focus, marking a significant transition that enables us to capitalize on new opportunities and forge strategic partnerships, thereby advancing our long-term strategic ambitions. This transformation has been successfully initiated and managed under Mike’s leadership, and on behalf of the entire Board, I would like to express our deepest appreciation for his numerous contributions to the firm. 

    We fully respect his decision to pursue another opportunity outside the firm and wish him every success in his future endeavors. We also thank him for his dedication to developing this strengthened leadership team. Under Mike’s guidance, the leadership team has driven the firm’s growth and expansion in recent years, notably with the successful launch of the Trading Capital Expansion Plan last year, leading to the second-best financial year in our 20-year history.

    Additionally, we are thrilled to appoint Marc and Alex as Co-Chief Trading Officers. Both Marc and Alex are esteemed leaders with a proven track record of shaping and accelerating our trading strategies across various asset classes and geographies. Their promotion reflects our dedication to strengthening our leadership and accelerating growth within our Trading Division. With a long-term focus on both talent and capital, we aim to intensify efforts in both traditional and digital asset markets, marking Flow Traders’ next phase of growth.”

    Mike Kuehnel, CEO of Flow Traders, added:
    “Throughout my tenure at Flow Traders, I have witnessed firsthand the transformative impact of technology and innovation on global financial markets. These experiences have reinforced my conviction to engage more broadly in the field of artificial intelligence, prompting my decision not to seek another full term as CEO.

    I am immensely proud of what we have collectively achieved, as evidenced by our strengthened position as a globally diversified trading firm. Equally, I take pride in the development and growth of our global leadership team. Cultivating and attracting talent has been a pivotal focus during my four years, and I am thrilled about the current standing of this team. I have full confidence in Flow Traders’ future, and its ability to grow and become an even more significant force in promoting transparency, efficiency, and resilience within global financial markets.

    I would like to extend my heartfelt gratitude to the Board and all my colleagues at Flow Traders, it has been an exceptionally rewarding privilege to work alongside you. Serving as your CFO and CEO over the past four years has been an honor, and I am genuinely excited about the firm’s future.”

    Notes

    • Following shareholder approval at the 2025 AGM, Mike’s re-election as CEO and Executive Director will run until 31 August 2025
    • Following shareholder approval at the 2025 AGM and regulatory vetting, Marc’s election as Executive Director of Flow Traders Ltd. will be effective for a term of four years
    • In the notice for the 2025 Annual General Meeting, scheduled to be published on 2 May, all necessary information will be included in accordance with the nominations outlined in this press release

    Contact Details

    Flow Traders Ltd.

    Investors
    Eric Pan
    Phone:         +31 20 7996799
    Email:        investor.relations@flowtraders.com

    Media
    Laura Peijs
    Phone:         +31 20 7996799
    Email:        press@flowtraders.com

    About Flow Traders
    Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading European equity ETPs to expand into fixed income, commodities, digital assets and FX globally. Flow Traders’ role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With over two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm’s entrepreneurial culture and delivering the company’s mission.

    Important Legal Information

    This press release is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.

    The information and materials contained in this press release are provided ‘as is’ and Flow Traders Ltd. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.

    This press release may include forward-looking statements, which are based on Flow Traders’ current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “could”, “hope”, “seek”, “plan”, “foresee”, “aim”, “objective”, “potential”, “goal” “strategy”, “target”, “continue” and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Flow Traders. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

    Financial objectives are internal objectives of Flow Traders to measure its operational performance and should not be read as indicating that Flow Traders is targeting such metrics for any particular fiscal year. Flow Traders’ ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Flow Traders’ control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Flow Traders’ actual results may vary from these financial objectives, and those variations may be material.

    Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full-year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders’ control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders’ actual results of operations.

    By accepting this document you agree to the terms set out above. If you do not agree with the terms set out above please notify legal.amsterdam@nl.flowtraders.com immediately and delete or destroy this document.

    Market Abuse Regulation
    This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Attachments

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Flow Traders 1Q 2025 Trading Update

    Source: GlobeNewswire (MIL-OSI)

    Flow Traders 1Q 2025 Trading Update

    Amsterdam, the Netherlands – Flow Traders Ltd. (Euronext: FLOW) announces its unaudited 1Q 2025 trading update.

    Highlights

    • Flow Traders recorded Net Trading Income of €140.2m and Total Income of €135.1m in 1Q25, an increase of 10% and 4% when compared to €127.1m and €129.6m in 1Q24, respectively.
    • Flow Traders’ ETP Value Traded increased by 24% in 1Q25 to €507bn from €409bn in 1Q24.
    • Fixed Operating Expenses were €50.8m in the quarter, an increase of 15% when compared to the €44.1m in 1Q24, due mostly to increased employee and technology expenses.
    • Total Operating Expenses were €72.7m in 1Q25, an increase of 7% when compared to the €67.9m in 1Q24, due to higher Fixed Operating Expenses.
    • EBITDA was €62.3m in the quarter, an increase of 1% when compared to €61.6m in 1Q24. EBITDA margin was 46% in 1Q25 vs. 48% in 1Q24.
    • Net Profit came in at €36.3m in 1Q25, yielding a basic EPS of €0.84 and diluted EPS of €0.82, a 21% decrease compared to a Net Profit of €45.9m, basic EPS of €1.05, and diluted EPS of €1.04 in 1Q24.
    • Trading Capital stood at €803m at the end of 1Q25, a 32% and 4% increase from €609m and €775m at the end of 1Q24 and 4Q24, respectively, and generated a 68% return on average trading capital1.
    • Shareholders’ equity was €787m at the end of 1Q25, compared to €631m at the end of 1Q24 and €767m at the end of 4Q24.
    • Flow Traders employed 619 FTEs at the end of 1Q25, compared to 601 at the end of 1Q24 and 609 at the end of 4Q24.

    Leadership Update

    In a separate release today, Flow Traders announced that Mike Kuehnel has conveyed to the Board his intention not to seek re-election as CEO for another full term at the 2025 AGM. He will leave Flow Traders at the end of August of this year, to pursue a new opportunity. To ensure a seamless leadership transition, Mike has agreed to be nominated for re-election as CEO at the upcoming AGM on 13 June 2025, his renewed term extending until 31 August 2025. The Board has initiated a search for his successor.

    Furthermore, Marc Jansen will be nominated for election as Executive Director of Flow Traders Ltd. and in addition, Marc Jansen and Alex Kieft will be appointed as Co-Chief Trading Officers, effective immediately.

    Financial Overview

    €million 1Q25 1Q24 Change YTD25 YTD24 Change
    Net trading income 140.2 127.1 10% 140.2 127.1 10%
    Other income (5.1) 2.5 NM (5.1) 2.5 NM
    Total income 135.1 129.6 4% 135.1 129.6 4%
    Revenue by region2            
    Europe 79.9 68.5 17% 79.9 68.5 17%
    Americas 11.4 41.3 (72%) 11.4 41.3 (72%)
    Asia 43.7 19.9 120% 43.7 19.9 120%
    Fixed employee expenses 24.3 20.7 18% 24.3 20.7 18%
    Technology expenses 17.4 15.8 10% 17.4 15.8 10%
    Other expenses 9.1 7.7 19% 9.1 7.7 19%
    Fixed operating expenses 50.8 44.1 15% 50.8 44.1 15%
    Variable employee expenses 22.0 23.8 (8%) 22.0 23.8 (8%)
    Total operating expenses 72.7 67.9 7% 72.7 67.9 7%
    EBITDA 62.3 61.6 1% 62.3 61.6 1%
    Interest expenses 0.4 – NM 0.4 – NM
    Lease expenses 0.5 0.6 (8%) 0.5 0.6 (8%)
    Depreciation & amortisation 4.7 4.3 11% 4.7 4.3 11%
    Impairment of intangible assets 10.5 – NM 10.5 – NM
    Profit/(loss) on equity-accounted investments (1.8) (0.4) 375% (1.8) (0.4) 375%
    Profit before tax 44.3 56.4 (21%) 44.3 56.4 (21%)
    Tax expense 8.0 10.6 (24%) 8.0 10.6 (24%)
    Net profit 36.3 45.9 (21%) 36.3 45.9 (21%)
    Basic EPS3 (€) 0.84 1.05 (21%) 0.84 1.05 (21%)
    Fully diluted EPS4 (€) 0.82 1.04 (21%) 0.82 1.04 (21%)
    EBITDA margin 46% 48%   46% 48%  

    Revenue by Region

    €million 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25
    Europe 58.5 33.1 33.6 42.6 68.4 48.6 70.2 86.9 79.9
    Americas 32.8 9.3 22.0 18.1 41.3 13.4 20.8 18.2 11.4
    Asia 19.2 9.0 12.1 13.6 19.9 14.2 23.6 53.8 43.7

    Value Traded Overview

    €billion 1Q25 1Q24 Change YTD25 YTD24 Change
    Flow Traders ETP Value Traded 507 409 24% 507 409 24%
    Europe 245 152 61% 245 152 61%
    Americas 213 229 (7%) 213 229 (7%)
    Asia 49 27 81% 49 27 81%
    Flow Traders non-ETP Value Traded 1,217 1,146 6% 1,217 1,146 6%
    Flow Traders Value Traded 1,724 1,555 11% 1,724 1,555 11%
    Equity 861 819 5% 861 819 5%
    FICC 774 691 12% 774 691 12%
    Other 89 45 100% 89 45 100%
    Market ETP Value Traded5 14,425 11,981 20% 14,425 11,981 20%
    Europe 882 597 48% 882 597 48%
    Americas 11,065 9,965 11% 11,065 9,965 11%
    Asia 2,478 1,419 75% 2,478 1,419 75%
    Asia ex China 645 439 47% 645 439 47%

    Trading Capital

      1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25
    Trading Capital (€m) 647 574 585 584 609 624 668 775 803
    Return on Avg Trading Capital1 67% 65% 56% 49% 50% 58% 62% 69% 68%
    Average VIX7 21.0 16.7 15.1 15.4 13.9 14.2 17.1 17.3 18.5

    Market Environment

    Europe

    Equity trading volumes in the quarter across major exchanges saw meaningful increases when compared to the same period a year ago, while market volatility also increased . Fixed Income trading volumes on MTFs increased slightly compared to the same period a year ago.

    Americas

    Equity trading volumes in the U.S. increased compared to the same period a year ago, but at a much lower level when compared to the other regions, while market volatility increased. Fixed Income trading volumes in the U.S. also increased slightly when compared to the same period a year ago, while volatility declined.

    Asia

    Equity trading volumes in Asia were mixed as Hong Kong and China saw significant increases while Japan experienced declines when compared to the same period a year ago. Market volatility increased across the board in Hong Kong, China and Japan when compared to the same period a year ago.

    Digital Assets

    Within Digital Assets, which trades across regions on a 24/7 basis, trading volumes in cryptocurrencies increased when compared to the same period a year ago. However, net fund flows into cryptocurrency ETFs declined significantly compared to a year ago given the spot Bitcoin ETF launches in the U.S. in January 2024.

    Outlook

    Fixed operating expenses guidance for the year remains unchanged and is expected to be in the range of €190-210m given additional technology investments and targeted additions of subject matter experts in growth areas, partially offset by expected operational efficiency gains.

    CEO Statement

    Mike Kuehnel, CEO
    “Flow Traders posted a strong set of results in the first quarter, with the strength in the Equity segment in Europe and Asia in the quarter offsetting the lower contribution from Digital Assets when compared to the first quarter of 2024. The results serve as further confirmation of our diversification strategy and our ability to capture opportunities as they arise. The 68% return on average trading capital in the quarter also further validates our strategic decision to retain more profits to reinvest back into the company under the Trading Capital Expansion Plan, announced in July last year.

    During the quarter, market trading volumes increased meaningfully across Europe and Asia given the macroeconomic uncertainty raised by the prospect of tariffs from the U.S. and the potential impact to the global economy. Volumes were particularly elevated in Hong Kong and China given the continued investor interest in China following the stimulus unveiled by the government in the fourth quarter of last year. Similarly, volumes increased meaningfully in Europe given the market outperformance, as investors looked to rotate their investments given the seismic geopolitical shift in the U.S. and its ramifications on Europe. The Americas had a more muted quarter when compared with the other regions as we allocated more of our capital to regions with greater dislocations. Regardless of where the activities were in the quarter, Flow Traders continued to provide liquidity to our counterparty base and was able to leverage trading opportunities given the breadth of our global trading operation.

    In Digital Assets, while the value of cryptocurrencies pulled back post the U.S. presidential inauguration, we continue to see positive sentiment shifts by regulators in not only the U.S. but also in places like Hong Kong, Japan and Korea. The first Consensus conference in Asia, held in Hong Kong in February, demonstrated the increasing institutional interest and adoption of digital assets and the underlying technology in the region. As one of the earliest adopters, Flow Traders remains instrumental in providing liquidity to this asset class on a 24/7 basis and bridging the gap between traditional finance and digital assets ecosystems.

    Looking forward to the rest of 2025, we remain committed to enhancing our trading capabilities by strategically investing in cutting-edge technology and talent. This approach aligns seamlessly with our growth and diversification strategy. We anticipate that these investments, coupled with our Trading Capital Expansion Plan, will drive top-line growth for the firm over time.”

    Preliminary Financial Calendar

    13 June 2025                AGM
    31 July 2025                1H25 Results

    Analyst Conference Call and Webcast

    The 1Q25 trading update analyst conference call will be held at 10:00 am CEST on Thursday 24 April 2025. The presentation can be downloaded at https://www.flowtraders.com/investors/results-centre and the conference call can be followed via a listen-only audio webcast. A replay of the conference call will be available on the company website for at least 90 days.

    Contact Details

    Flow Traders Ltd.

    Investors
    Eric Pan
    Phone:         +31 20 7996799
    Email:        investor.relations@flowtraders.com

    Media
    Laura Peijs
    Phone:         +31 20 7996799
    Email:        press@flowtraders.com

    About Flow Traders

    Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading European equity ETPs to expand into fixed income, commodities, digital assets and FX globally. Flow Traders’ role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With over two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm’s entrepreneurial culture and delivering the company’s mission.

    Notes

    1. Return on average trading capital defined as LTM NTI divided by the average of the prior and current end of period trading capital.
    2. Revenue by region includes NTI, Other Income, and inter-company revenue.
    3. Weighted average shares outstanding: 1Q25 – 43,394,080; 4Q24 – 43,066,302; 1Q24 – 43,515,359.
    4. Determined by adjusting the basic EPS for the effects of all dilutive share-based payments to employees.
    5. Source – Flow Traders analysis.
    6. Starting in 3Q24, average VIX is calculated as the average of VIX daily closing prices.

    Important Legal Information

    This press release is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.

    The information and materials contained in this press release are provided ‘as is’ and Flow Traders Ltd. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.

    This press release may include forward-looking statements, which are based on Flow Traders’ current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “could”, “hope”, “seek”, “plan”, “foresee”, “aim”, “objective”, “potential”, “goal” “strategy”, “target”, “continue” and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Flow Traders. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law.

    Financial objectives are internal objectives of Flow Traders to measure its operational performance and should not be read as indicating that Flow Traders is targeting such metrics for any particular fiscal year. Flow Traders’ ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Flow Traders’ control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Flow Traders’ actual results may vary from these financial objectives, and those variations may be material.

    Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full-year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders’ control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders’ actual results of operations.

    By accepting this document you agree to the terms set out above. If you do not agree with the terms set out above please notify legal.amsterdam@nl.flowtraders.com immediately and delete or destroy this document.

    All results published in this release are unaudited.

    Market Abuse Regulation

    This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Attachment

    • 1Q25 Press Release

    The MIL Network –

    April 24, 2025

  • MIL-Evening Report: Many experienced tradies don’t have formal qualifications. Could fast-tracked recognition ease the housing crisis?

    Source: The Conversation (Au and NZ) – By Pi-Shen Seet, Professor of Entrepreneurship and Innovation, Edith Cowan University

    Once again, housing affordability is at the forefront of an Australian federal election.

    Both major parties have put housing policies at the centre of their respective campaigns. But there are still concerns too little is being done to address supply.

    One of the biggest hurdles is an ongoing shortage of skilled tradespeople, and difficulties attracting new workers. The construction industry accounts for 9% of Australia’s workforce. Yet an estimated 35% of workers lack formal qualifications.

    On Wednesday, Labor announced an election promise to fast-track formal trade qualifications for about 6,000 experienced but unqualified tradies.

    The Advanced Entry Trades Training program would start in 2026 and cost A$78 million.

    This program should help address some of the skills shortages in the sector. But it will be a long time before these benefits begin flowing through the system. And Australia is still likely to fall short of the government’s ambitious new home targets.

    Recognising skills we already have

    The Advanced Entry Trades Training program is intended to partly bridge the gap in construction skills shortages through a process called “recognition of prior learning” – and by offering free training to fill any skill gaps.

    In principle, recognition of prior learning allows individuals with substantial and relevant industry experience to attain formal qualifications without lengthy training programs.

    A similar approach was adopted in the healthcare sector as an emergency response to the pandemic, to boost the number of qualified workers.

    For the construction industry, it will encompass workers currently in the industry who have not completed an apprenticeship, as well as skilled migrants in Australia whose abilities remain unverified.

    This process can improve pay and conditions for participants. But it can also potentially fast-track their entry into the qualified workforce, addressing immediate skills shortages.



    Read more:
    A grab bag of campaign housing policies. But will they fix the affordability crisis beyond the election?

    Will it work?

    Labor’s new initiative mirrors an existing program at the state level, the New South Wales government’s Trade Pathways for Experienced Workers Program.

    According to Labor, this program saw 1,200 students earn their qualifications in an average time of seven months (as opposed to several years).

    It’s important to note this includes trades from all sectors of the NSW economy. But it is much faster than the traditional process of skill recognition. The Parkinson Review of Australia’s migration system found this process can take up to 18 months for a skilled migrant and cost over $9,000.



    Read more:
    Australia has a new National Skills Agreement. What does this mean for vocational education?

    Increased housing supply? Not soon

    Combined with other initiatives such as incentive payments for construction apprentices, the new Advanced Entry Trades Training program should help address some skills shortages in the sector.

    Australia’s peak construction industry body, Master Builders Australia, praised the proposal, citing its own analysis suggesting for every new qualified tradie, an extra 2.4 homes can be built.

    Even with these initiatives, the sector will likely fall short of the 83,000 additional skilled tradespeople needed to meet the Albanese government’s target to build 1.2 million new homes over five years.

    And it may mainly solve a categorisation issue. Currently, only about 80% of employers in the construction sector in Australia require all job applicants to hold a formal qualification.

    Crucially, it doesn’t address the core problem of attracting higher numbers of suitable people to a very traditional industry and helping them finish their qualifications. Almost half of construction sector apprentices do not complete their training.

    Other challenges

    There are other challenges for recognition of prior learning schemes more broadly.

    Research into recognition of prior learning for construction sector apprentices suggests some Australian employers and training providers may be averse to fast-tracking training. About 64% of assessed apprentices had prior experience and skills, but only 30% had their training shortened.

    These issues are even more complex when considering accelerated pathways for skilled migrants from a range of countries. There are some significant, well-documented challenges in transferring or recognising vocational qualifications across international boundaries.

    More to be done

    The Advanced Entry Trades Training program may go some way to alleviating a skills shortage in construction. But it will only partially address the broader issues of supply.

    Australia’s vocational education and training systems are complex, making it difficult to predict the outcomes.

    The proposed program does not address the problem of rising construction material costs and shortages. This problem is worsened by the declining productivity of the housing construction sector, which has halved over the last 30 years.

    Declining productivity isn’t just down to skilled labour shortages. It has also been attributed to other factors such as complex planning approvals, limited innovation, and a predominance of small firms.

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

    – ref. Many experienced tradies don’t have formal qualifications. Could fast-tracked recognition ease the housing crisis? – https://theconversation.com/many-experienced-tradies-dont-have-formal-qualifications-could-fast-tracked-recognition-ease-the-housing-crisis-255108

    MIL OSI Analysis – EveningReport.nz –

    April 24, 2025

  • MIL-Evening Report: Back to the fuel guzzlers? Coalition plans to end EV tax breaks would hobble the clean transport transition

    Source: The Conversation (Au and NZ) – By Anna Mortimore, Lecturer, Griffith Business School, Griffith University

    wedmoment.stock/Shutterstock

    If elected, the Coalition has pledged to end Labor’s substantial tax break for new zero- or low-emissions vehicles.

    This, combined with an earlier promise to roll back new fuel efficiency standards, would successfully slow the transition to hybrid and battery electric vehicles (EVs).

    The Albanese government pitched these tax breaks as a way to make EVs cheaper to buy and more competitive with internal combustion engine cars. Since the tax break came in, EV popularity has surged. Almost 100,000 people have taken out a novated lease on an EV between mid-2022, when the scheme began, and February 2025.

    The Coalition has been consistently critical of the tax breaks on cost grounds. The scheme has been far more popular than government forecasts envisaged, leading to concerns about a cost blowout. Rather than the A$55 million forecast for 2024-25, the scheme has cost ten times that – $560 million. EV buyers are much more likely to be wealthy, meaning the tax break has been snapped up by people who need it less. The policy is, however, encouraging car suppliers to import more affordable EVs.

    These concerns don’t mean Labor’s policy is bad. Far from it – this tax break is currently the only policy working to drive down transport emissions, now the second-largest source of emissions in Australia. The Coalition has given no indication it would replace the EV tax break with other ways to cut transport emissions.

    Electric vehicles still cost more than their internal combustion engine counterparts.
    meowKa/Shutterstock

    What is this tax break – and did it work?

    In mid-2022, the Albanese government introduced a tax break to encourage uptake of electric vehicles. The measure initially covered hydrogen fuel-cell, battery-electric and plug-in hybrid vehicles, but plug-in hybrids are no longer eligible as of April 1.

    The tax break works by giving EV buyers who are current employees a fringe benefits tax exemption for low- or zero-emissions vehicles both held and used for private use. The fringe benefits tax is a flat tax of 47% levied on the car benefit provided by the employer. For the exemption to apply, the retail price of the car has to be under the threshold for the luxury car tax of $91,387.

    People in high incomes brackets often like to negotiate with their employer to have a car included as part of their salary package so they can reduce their taxable income. The fringe benefits tax is levied on these types of benefits.

    The scheme works by exempting purchasers of new EVs from fringe benefits tax. A battery electric Hyundai Kona retailed for around $60,000 last year – 32% more in price than its internal combustion engine equivalent. The fringe benefits tax of around $11,700 annually ends up being larger because of the EV’s high sale price. Without this exemption, the tax acts as a major disincentive for the uptake of EVs.
    By and large, electric vehicles cost significantly more than their traditional counterparts. This price gap is dropping as new manufacturers enter the market, but it’s still there. While EVs have lower fuel costs, the higher upfront cost has put off many prospective buyers. This is the issue Labor’s tax exemption was intended to fix.

    Has the scheme worked? Overall, yes. In 2022, EVs accounted for just 3.3% of all new cars sold in Australia. By 2023, almost two-thirds of battery electric, vehicles were sold to private buyers, a 145% increase. And in 2024, the figure had almost tripled to 9.6%. Without this tax incentive, Australia’s uptake of EVs would most likely be much lower.

    If a future Coalition government ended the tax break, Australia would return to the pre-2022 era, where fringe benefits tax acted as a significant disincentive for EVs.

    The tax break isn’t perfect – but it’s better than nothing

    Australia’s main power grid now runs on an average of 40% clean energy. As a result, emissions have been tracking downward in these sectors. But transport emissions are still rising. Transport is now Australia’s second-largest source of emissions – almost 100 million tonnes (Mt) out of our total emissions of 434 Mt. By 2030, transport is projected to be the largest source of domestic emissions.

    Under the 2015 Paris Agreement, nations agreed at least 20% of light vehicles on their roads would be low- or zero-emissions by 2030. But Australia is lagging well behind the pack on the shift to cleaner transport.

    At present, just 1% of Australia’s car fleet is electric. Even EVs make up close to 10% of new sales, changing the makeup of the entire fleet (16.8 million) will take years.

    By contrast, almost 90% of new cars sold in Norway are electric, according to a 2024 report from the International Energy Agency. In China it’s just under 60%, Sweden it’s 60%, Netherlands 30%, the UK 25% and the United States 10%.

    These countries have used a combination of tax incentives and fuel efficiency regulations to drive rapid uptake. While Labor has moved to introduce both of these, progress hasn’t been as fast.

    Back to the fuel guzzlers?

    Australians rely heavily on cars. But the long lack of fuel efficiency standards mean many models sold here emit much more than in other OECD countries – 150 grams per kilometre versus 107 across 29 European Union nations as of 2023. Put another way, a new car in Australia uses 40% more fuel than its equivalent in the EU. Many drivers prefer big cars, such as the top-selling Ford Ranger.

    If the Coalition ends the tax break and pulls the teeth of new emissions standards, it would bring recent modest progress to a halt.

    The Coalition has rightly pointed out the inequity of the tax break as it stands. My research has shown this could be fixed. Throwing the scheme out without proposing another way to cut transport emissions is disheartening.

    Anna Mortimore receives funding from Reliable Affordable Clean Energy Cooperative Research Centre for 2030 (RACE for 2030).

    – ref. Back to the fuel guzzlers? Coalition plans to end EV tax breaks would hobble the clean transport transition – https://theconversation.com/back-to-the-fuel-guzzlers-coalition-plans-to-end-ev-tax-breaks-would-hobble-the-clean-transport-transition-255211

    MIL OSI Analysis – EveningReport.nz –

    April 24, 2025

  • MIL-OSI: Exor Press Release – Tender Offer Result

    Source: GlobeNewswire (MIL-OSI)

    THIS PRESS RELEASE IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

    Amsterdam, 24 April 2025

    EXOR ANNOUNCES OVERSUBSCRIBED TENDER OFFER,
    AS PART OF €1 BILLION SHARE BUYBACK PROGRAM

    Exor N.V. (“Exor” or the “Company”) announces the results of the Tender Offer set out in the Offer Memorandum published by the Company on 26 March 2025 (the “Offer Memorandum”). The Tender Offer closed at 17:40 CET on 23 April 2025.

    22,965,749 Ordinary Shares were validly tendered by Qualifying Shareholders in the Tender Offer and, following application of the scaling-down mechanism set out in the Offer Memorandum, 12,254,495 Ordinary Shares will be purchased at a price per Ordinary Share of EUR 81.6027 (the Strike Price), for a total consideration of EUR 1 billion. This represents 5.5% of the Ordinary Shares issued in the share capital of Exor. The Strike Price of the Tender Offer, determined in the manner described in the Offer Memorandum is equal to the Reference VWAP +2%.

    The aggregate value (at the Strike Price) of the Ordinary Shares validly tendered by Qualifying Shareholders at a price at or below the Strike Price (or as Strike Price Tenders) exceeded EUR 1 billion, and hence the Tender Offer is oversubscribed. Because the Tender Offer is oversubscribed, tenders will be accepted as follows, in line with the Offer Memorandum:

    • all Strike Price Tenders will be purchased in full;
    • all tenders at a price below the Strike Price (excluding Strike Price Tenders) will be purchased in full;
    • tenders at the Strike Price will be scaled down by 38.15% so that the total consideration for the Ordinary Shares purchased in the Tender Offer does not exceed EUR 1 billion; and
    • all tenders at a price higher than the Strike Price will be rejected and will not be purchased in the Tender Offer.

    The settlement of the Tender Offer is expected to take place on or around 28 April 2025.

    In accordance with the Irrevocable Undertaking by Giovanni Agnelli B.V., 6,985,062 Ordinary Shares will be purchased from Giovanni Agnelli B.V. as part of the Tender Offer. After settlement, Giovanni Agnelli B.V. will hold 114,714,169 Ordinary Shares, representing 51.9% of the Ordinary Shares issued in the share capital of the Company before the share cancellation.

    Following settlement, Exor will start the process of cancelling the 12,254,495 Ordinary Shares acquired as part of the Tender Offer and 950,000 Ordinary Shares currently held in treasury, representing 6.0% of the Ordinary Shares issued in the share capital of Exor. In addition, Exor will cancel the 6,985,062 Special Voting Shares to be retransferred to Exor in connection with the Tender Offer and 1,462,186 Special Voting Shares currently held in treasury.

    Terms used but not defined in this announcement have the meaning assigned to them in the Offer Memorandum.

    Qualifying Shareholders whose Ordinary Shares were validly tendered and accepted by the Company are still entitled to participate at the forthcoming AGM, which will be held on 22 May 2025, and cast their vote on such Ordinary Shares (and any corresponding Special Voting Shares) in the usual manner, provided that these Ordinary Shares were held in an intermediary account participating in the Euronext Securities Milan system (formerly known as Monte Titoli), or on the Company’s Loyalty Register, as applicable, on the record date.

    About Exor

    Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Stellantis, Philips and CNH.

    Regulated Information

    This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the European Market Abuse Regulation (596/2014).

    Restrictions

    This announcement does not constitute or form part of an offer or invitation, or a solicitation of any offer or invitation, to purchase any Ordinary Shares or other securities.

    Goldman Sachs Bank Europe SE (“Goldman Sachs”), which is authorised and regulated by the European Central Bank and the Federal Financial Supervisory Authority (Die Bundesanstalt für Finanzdienstleistungsaufsicht) and Deutsche Bundesbank in Germany, is acting exclusively as Dealer Manager to Exor and to no-one else in connection with the Tender Offer. Neither Goldman Sachs nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to any other person than Exor for providing the protections afforded to clients of Goldman Sachs or for providing advice in connection with the Tender Offer.

    ING Bank N.V. (“ING“) is directly supervised by the European Central Bank as part of the Single Supervisory Mechanism and regulated by De Nederlandsche Bank and the Dutch Autoriteit Financiële Markten, and is acting as Dealer Manager and Tender Agent exclusively for Exor and for no-one else in connection with the Tender Offer and will not be responsible to any person other than the Company for providing the protections afforded to clients of ING or for providing assistance in connection with the Tender Offer.

    Apart from the responsibilities and liabilities, if any, which may be imposed on the Dealer Managers under their respective legal or regulatory regime: (i) none of the Dealer Managers or any persons associated or affiliated with either of them accepts any responsibility whatsoever or makes any warranty or representation, express or implied, in relation to the contents of the Offer Memorandum, including its accuracy, completeness or verification or for any other statement made or purported to be made by, or on behalf of it, Exor or the members of the Board, in connection with Exor and/or the Tender Offer; and (ii) each of the Dealer Managers accordingly disclaims, to the fullest extent permitted by law, all and any liability whatsoever, whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise be found to have in respect of the Offer Memorandum or any such statement.

    Cautionary statement regarding forward-looking statements

    This announcement includes statements that are, or may be deemed to be, forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms anticipates, believes, could, estimates, expects, intends, may, plans, projects, should or will, or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances.

    Forward-looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this announcement reflect Exor’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group and its operations, results of operations, and growth strategy. Other than in accordance with its legal or regulatory obligations (including the Market Abuse Regulation and applicable stock exchange rules), Exor is not under any obligation and Exor expressly disclaims any intention or obligation (to the maximum extent permitted by law) to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Dealer Managers and Tender Agent

    Goldman Sachs and ING each act as a Dealer Manager, and together as the Dealer Managers for the Tender Offer. ING acts as Tender Agent for the Tender Offer.

    Further information

    Public announcements in connection are available on the dedicated tender offer website of the Company at https://www.exor.com/pages/investors-media/shareholders-corner/share-buyback.

    For any questions related to this announcement, please contact Exor’s Investor Relations at
    ir@exor.com or +31 (0)20 240 2 222.

    Attachment

    • Exor Press Release – Tender Offer Result

    The MIL Network –

    April 24, 2025

  • MIL-OSI: Dassault Systèmes: Solid start to the year with strong subscription growth, EPS at the high end of guidance

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — April 24, 2025

    Dassault Systèmes: Solid start to the year with strong subscription growth, EPS at the high end of guidance

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the first quarter 2025 ended March 31, 2025. The Group’s Board of Directors approved these estimated results on April 23, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 1Q25: Software revenue increased by 5% driven by recurring revenue up 7%;
    • 1Q25: Strong subscription growth of 14%, bringing New business up 7%;
    • 1Q25: 3DEXPERIENCE software revenue growth of 17%;
    • 1Q25: Diluted EPS up 5% (6% as reported) to €0.32;
    • 1Q25: Cash flow from operations grew 21%, as reported, to €813 million (IFRS);
    • FY25: Full year objectives unchanged, total revenue growth of 6-8% and diluted EPS of €1.36-€1.39.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “In February this year we announced Gen 7, the new generation of representation of our customers’ virtual universes – we call it 3D UNIV+RSES. This seventh generation of MODSIM data, powered by AI and spatial computing, makes the 3DEXPERIENCE the next-generation platform for knowledge and know-how, establishing it as a global IP management platform. Early customer feedback confirms that platform-based AI leveraging virtual twins creates competitive advantage. 

    We’ve had a solid start to the year. In the first quarter, the Manufacturing Industries sector performed well led by Aerospace & Defense and High Tech, along with Transportation & Mobility in China, Japan and US. At the same time, we’re accelerating in Sovereign Infrastructure, where energy, security, and AI capabilities – through high-performance data centers – are becoming strategic imperatives for nations and territories.

    We are committed to being the trusted partner for our customers – helping them stay ahead, while strengthening our leadership position for the long term and raising barriers to entry.”

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS (‘EPS’) growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “In the first quarter, our revenue is driven by strong subscription growth of 14%. As a result, recurring revenue now represents 86% of software revenue, highlighting the resilience of our business model. Regarding operational efficiency, we reached the upper end of our EPS guidance and saw strong growth in operating cash flow, increasing by 21% as reported.

    Entering 2025, our approach was to provide a risk-adjusted financial outlook. Since then, the introduction of new tariffs has created a more volatile market environment, which could lead to longer decision-making cycles. That said, our pipeline remains solid, and our current visibility aligns with the midpoint of our full year guidance.

    Therefore, we keep our 2025 outlook of 6-8% total revenue growth and 7-10% EPS growth unchanged. In addition, we are slightly adjusting our operating margin target, expecting a year-over-year expansion of 50-70 basis points, versus 70-100 basis points prior, to gain additional flexibility and invest in Gen 7 to support our long-term growth.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   Non-IFRS
      Q1 2025 Q1 2024 Change Change in constant currencies   Q1 2025 Q1 2024 Change Change in constant currencies
    Total Revenue   1,573.0 1,499.7 5% 4%   1,573.0 1,499.7 5% 4%
    Software Revenue   1,432.7 1,352.8 6% 5%   1,432.7 1,352.8 6% 5%
    Operating Margin   19.4% 21.6% (2.3)pts     30.9% 31.1% (0.2)pt  
    Diluted EPS   0.20 0.21 (9)%     0.32 0.30 6% 5%

    First Quarter 2025 Versus 2024 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the first quarter grew by 4% to €1.57 billion, and software revenue increased by 5% to €1.43 billion. Subscription & support revenue rose by 7%; recurring revenue represented 86% of software revenue, up 2 basis points versus last year. Licenses and other software revenue declined by 10% to €198 million. Services revenue was down 6% to €140 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 7% to represent 43% of software revenue. This growth acceleration is driven by Aerospace & Defense, Transport & Mobility and High-Tech. Despite tariff uncertainty, Europe increased by 1%, led by good growth in Aerospace & Defense. Europe represented 36% of software revenue. In Asia, revenue increased by 5%, driven by India, Southeast Asia and Korea. Asia represented 22% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue increased by 8% to €793 million. This strong broad-based performance was led by CATIA, ENOVIA, DELMIA and NETVIBES. Industrial Innovation software represented 55% of software revenue.
    • Life Sciences software revenue was stable at €293 million, accounting for 20% of software revenue. MEDIDATA was impacted by continued CRO2 headwinds, while benefiting from the steady dynamic with Large Pharma and Mid-Market.
    • Mainstream Innovation software revenue increased by 2% to €347 million. SOLIDWORKS had a slow start to the year, but saw solid bookings and good momentum in 3DEXPERIENCE adoption. CENTRIC PLM was impacted by timing of renewals, after an exceptional year of growth in 2024. Mainstream Innovation represented 24% of software revenue, during the period.
    • Software Revenue by Industry: Aerospace & Defense, High Tech and Industrial Equipment were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 17%, driven by Aerospace & Defense, High Tech and Transportation & Mobility, along with opportunities in the sovereign infrastructure domain. 3DEXPERIENCE software revenue represented 39% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue during the period. 3DEXPERIENCE Cloud software revenue increased by 41%.
    • Operating Income and Margin: IFRS operating income declined by 6% to €304 million, as reported. Non-IFRS operating income increased by 3% in constant currencies to €486 million (up 4% as reported). The IFRS operating margin stood at 19.4% compared to 21.6% in the first quarter of 2024. The non-IFRS operating margin totaled 30.9% versus 31.1% during the same period last year.
    • Earnings per Share: IFRS diluted EPS was €0.20, down 9% as reported. Non-IFRS diluted EPS grew to €0.32, up 6% as reported, or 5% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €813 million, an increase of 21% relative to the same period last year with strong cash collection. Cash flow from operations was principally used for the acquisition of ContentServ for €191 million (net of €11 million of cash acquired), repurchase of Treasury Shares for €80 million, repayment of debt for €59 million and €56 million for investments in CAPEX.
    • Balance Sheet (IFRS): Dassault Systèmes had a net cash position of €1.79 billion as of March 31, 2025, an increase of €0.33 billion, compared to €1.46 billion for the year ending December 31, 2024. Cash and cash equivalents totaled €4.24 billion at the end of March 2025.

    Financial Objectives for 2025

    Dassault Systèmes’ second quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q2 2025 FY 2025  
      Total Revenue (billion) €1.520 – €1.580 €6.567 – €6.667  
      Growth 2 – 6% 6 – 7%  
      Growth ex FX 3 – 7% 6 – 8%  
               
      Software revenue growth * 3 – 7% 6 – 8%  
        Of which licenses and other software revenue growth * (6) – 1% 2 – 6%  
        Of which recurring revenue growth * 5 – 8% 7 – 8%  
     

    Services revenue growth *

    3 – 7%

    		 4 – 6%  
               
      Operating Margin 29.8% – 29.9% 32.3% – 32.6%  
               
      EPS Diluted €0.30 – €0.31 €1.36 – €1.39  
      Growth (1) – 3% 7 – 9%  
      Growth ex FX 1 – 5% 7 – 10%  
               
      US dollar $1.10 per Euro $1.09 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 156.4 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €213 million (these estimates do not include any new stock option or share grants issued after March 31, 2025); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €353 million, largely impacted by the acquisition of MEDIDATA and lease incentives of acquired companies at approximately €1 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after March 31, 2025.

    Corporate Announcements

    • January 23, 2025: MEDIDATA and Tigermed Renew Strategic Partnership Aimed at Accelerating Clinical Trials Globally
    • February 4, 2025: Dassault Systèmes and Volkswagen Group Implement the 3DEXPERIENCE Platform to Optimize Vehicle Development
    • February 4, 2025: Dassault Systèmes Reveals “3D UNIV+RSES” and Related AI-Based Services
    • February 4, 2025: MEDIDATA Advances New Frontiers for Life Sciences Through Patient-Centric Experiences, AI-Powered Innovations, and New Patient Engaging Alliances
    • February 25, 2025: Dassault Systèmes Announces Centric Software’s Acquisition of AI-Powered PXM Solution, Contentserv
    • February 25, 2025: Dassault Systèmes Reveals the Next Dimension of Product Design and Manufacturing with Apple Vision Pro
    • February 26, 2025: Dassault Systèmes Enters the Next Phase of Its Living Heart Project with AI-Powered Virtual Twins
    • March 19, 2025: Dassault Systèmes Intensifies the MEDIDATA Commitment to Patient Experience with Investment in Click Therapeutics for Digital Therapeutics beyond Clinical Trials
    • March 20, 2025: ICON Becomes the First Large Clinical Research Organization to Fully Integrate Medidata Clinical Data Studio, Streamlining Data Management and Review

    Today’s Webcast and Conference Call Information

    Today, Thursday, April 24, 2025, Dassault Systèmes will host, from Paris, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • Capital Markets Day: June 6, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025
    • Third Quarter 2025 Earnings Release: October 23, 2025
    • Fourth Quarter 2025 Earnings Release: February 11, 2026

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2024 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2025, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Environment” in section 1.9.1.1 of the 2024 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or cancel their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and negatively affect Dassault Systèmes’ business, and in particular its revenue, for example, due to stricter export compliance rules or the introduction of new customs barriers or controls on the exchange of goods and services;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of costs inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of the Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political crises in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or to cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively affect Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the second quarter 2025. The Group has assumed an average US dollar to euro exchange rate of US$1.09 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY156.4 to €1.00, before hedging for the full year 2025. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2025.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens.
    With Dassault Systèmes’ 3DEXPERIENCE platform, 370 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.
    For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant currencies is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, medical practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes SOLIDWORKS, as well as its CENTRIC PLM and 3DVIA brands.

    Starting from 2022, OUTSCALE became a brand of the Group, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEOs

    Eleven GEOs are responsible for driving the development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEOs;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEOs;
    • the “Asia” group, comprising Asia and Oceania and made of five GEOs.

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenue is generated from contracts that provide access to cloud-based solutions (SaaS), infrastructure as a service (IaaS), cloud solution development and cloud managed services. These offerings are delivered by Dassault Systèmes through its own cloud infrastructure or by third-party cloud providers. They are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscription-based models or perpetual licenses with support and hosting services.

    New business

    New business is the combination of subscription revenue and licenses & other software revenue.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended
    March 31,

    2025

    		 March 31,

    2024

    		 Change Change in constant currencies
    Total Revenue € 1,573.0 € 1,499.7 5% 4%
             
    Revenue breakdown by activity        
    Software revenue 1,432.7 1,352.8 6% 5%
    Of which licenses and other software revenue 198.1 218.5 (9)% (10)%
    Of which subscription and support revenue 1,234.6 1,134.3 9% 7%
    Services revenue 140.2 146.8 (4)% (6)%
             
    Software revenue breakdown by product line        
    Industrial Innovation 793.1 731.4 8% 8%
    Life Sciences 292.6 284.7 3% 0%
    Mainstream Innovation 347.1 336.7 3% 2%
             
    Software Revenue breakdown by geography        
    Americas 611.1 553.6 10% 7%
    Europe 513.2 503.2 2% 1%
    Asia 308.4 296.0 4% 5%
             
    Operating income € 486.1 € 466.5 4%  
    Operating margin 30.9% 31.1%    
             
    Net income attributable to shareholders € 420.1 € 397.2 6%  
    Diluted earnings per share € 0.32 € 0.30 6% 5%
             
    Closing headcount 26,225 25,780 2%  
             
    Average Rate USD per Euro 1.05 1.09 (3)%  
    Average Rate JPY per Euro 160.45 161.15 (0)%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    March 31,

    2025

    		 March 31,

    2024

    		 Change
    Revenue QTD 1,573.0 1,499.7 73.3 52.6 0.9 19.8

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended
    March 31, March 31,
    2025 2024
    Licenses and other software revenue 198.1 218.5
    Subscription and Support revenue 1,234.6 1,134.3
    Software revenue 1,432.7 1,352.8
    Services revenue 140.2 146.8
    Total Revenue € 1,573.0 € 1,499.7
    Cost of software revenue (1) (129.2) (111.9)
    Cost of services revenue (131.1) (131.8)
    Research and development expenses (348.6) (311.4)
    Marketing and sales expenses (446.5) (420.3)
    General and administrative expenses (120.4) (105.1)
    Amortization of acquired intangible assets and of tangible assets revaluation (88.3) (93.3)
    Other operating income and expense, net (4.4) (1.8)
    Total Operating Expenses (1,268.5) (1,175.6)
    Operating Income € 304.5 € 324.1
    Financial income (loss), net 30.3 30.2
    Income before income taxes € 334.8 € 354.2
    Income tax expense (75.5) (68.3)
    Net Income € 259.4 € 286.0
    Non-controlling interest 1.2 (0.3)
    Net Income attributable to equity holders of the parent € 260.5 € 285.7
    Basic earnings per share 0.20 0.22
    Diluted earnings per share € 0.20 € 0.21
    Basic weighted average shares outstanding (in millions) 1,312.3 1,313.6
    Diluted weighted average shares outstanding (in millions) 1,332.2 1,331.1

            (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended March 31, 2025
    Change (2) Change in constant currencies
    Total Revenue 5% 4%
    Revenue by activity    
    Software revenue 6% 5%
    Services revenue (4)% (6)%
    Software Revenue by product line    
    Industrial Innovation 8% 8%
    Life Sciences 3% 0%
    Mainstream Innovation 3% 2%
    Software Revenue by geography    
    Americas 10% 7%
    Europe 2% 1%
    Asia 4% 5%

                    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    March 31, December 31,
    2025 2024
    ASSETS    
    Cash and cash equivalents 4,242.9 3,952.6
    Trade accounts receivable, net 1,709.5 2,120.9
    Contract assets 34.3 30.1
    Other current assets 464.8 464.0
    Total current assets 6,451.5 6,567.6
    Property and equipment, net 928.7 945.8
    Goodwill and Intangible assets, net 7,597.6 7,687.1
    Other non-current assets 358.9 345.5
    Total non-current assets 8,885.2 8,978.3
    Total Assets € 15,336.7 € 15,545.9
    LIABILITIES    
    Trade accounts payable 199.5 259.9
    Contract liabilities 1,716.0 1,663.4
    Borrowings, current 411.4 450.8
    Other current liabilities 1,109.7 1,147.4
    Total current liabilities 3,436.6 3,521.5
    Borrowings, non-current 2,043.3 2,042.8
    Other non-current liabilities 887.9 900.9
    Total non-current liabilities 2,931.3 2,943.7
    Non-controlling interests 14.3 14.1
    Parent shareholders’ equity 8,954.5 9,066.6
    Total Liabilities € 15,336.7 € 15,545.9

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended
    March 31, March 31, Change
    2025 2024
    Net income attributable to equity holders of the parent 260.5 285.7 (25.2)
    Non-controlling interest (1.2) 0.3 (1.4)
    Net income 259.4 286.0 (26.6)
    Depreciation of property and equipment 50.5 47.6 2.8
    Amortization of intangible assets 89.6 95.2 (5.6)
    Adjustments for other non-cash items 16.1 37.7 (21.6)
    Changes in working capital 397.4 204.4 193.0
    Net Cash From Operating Activities € 813.0 € 670.9 € 142.1
           
    Additions to property, equipment and intangibles assets (55.9) (57.2) 1.2
    Payment for acquisition of businesses, net of cash acquired (193.8) (4.5) (189.2)
    Other (37.8) 22.3 (60.1)
    Net Cash Provided by (Used in) Investing Activities € (287.5) € (39.4) € (248.1)
           
    Proceeds from exercise of stock options 22.2 21.3 0.8
    Repurchase and sale of treasury stock (80.1) (131.1) 51.0
    Acquisition of non-controlling interests (0.2) (2.6) 2.5
    Repayment of borrowings (58.9) (0.1) (58.8)
    Repayment of lease liabilities (22.6) (24.0) 1.4
    Net Cash Provided by (Used in) Financing Activities € (139.6) € (136.5) € (3.0)
           
    Effect of exchange rate changes on cash and cash equivalents (95.7) 32.7 (128.4)
           
    Increase (decrease) in cash and cash equivalents € 290.3 € 527.7 € (237.4)
           
           
    Cash and cash equivalents at beginning of period € 3,952.6 € 3,568.3  
    Cash and cash equivalents at end of period € 4,242.9 € 4,095.9  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended March 31, Change
    2025 Adjustment(1) 2025 2024 Adjustment(1) 2024 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,573.0 – € 1,573.0 € 1,499.7 – € 1,499.7 5% 5%
    Revenue breakdown by activity                
    Software revenue 1,432.7 – 1,432.7 1,352.8 – 1,352.8 6% 6%
    Licenses and other software revenue 198.1 – 198.1 218.5 – 218.5 (9)% (9)%
    Subscription and Support revenue 1,234.6 – 1,234.6 1,134.3 – 1,134.3 9% 9%
    Recurring portion of Software revenue 86%   86% 84%   84%    
    Services revenue 140.2 – 140.2 146.8 – 146.8 (4)% (4)%
    Software Revenue breakdown by product line                
    Industrial Innovation 793.1 – 793.1 731.4 – 731.4 8% 8%
    Life Sciences 292.6 – 292.6 284.7 – 284.7 3% 3%
    Mainstream Innovation 347.1 – 347.1 336.7 – 336.7 3% 3%
    Software Revenue breakdown by geography                
    Americas 611.1 – 611.1 553.6 – 553.6 10% 10%
    Europe 513.2 – 513.2 503.2 – 503.2 2% 2%
    Asia 308.4 – 308.4 296.0 – 296.0 4% 4%
    Total Operating Expenses € (1,268.5) € 181.6 € (1,086.9) € (1,175.6) € 142.4 € (1,033.2) 8% 5%
    Share-based compensation expense and related social charges (88.5) 88.5 – (46.7) 46.7 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (88.3) 88.3 – (93.3) 93.3 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net (4.4) 4.4 – (1.8) 1.8 –    
    Operating Income € 304.5 € 181.6 € 486.1 € 324.1 € 142.4 € 466.5 (6)% 4%
    Operating Margin 19.4%   30.9% 21.6%   31.1%    
    Financial income (loss), net 30.3 0.6 30.9 30.2 1.0 31.2 1% (1)%
    Income tax expense (75.5) (21.6) (97.1) (68.3) (31.6) (99.9) 11% (3)%
    Non-controlling interest 1.2 (0.9) 0.2 (0.3) (0.3) (0.5) N/A (141)%
    Net Income attributable to shareholders € 260.5 € 159.6 € 420.1 € 285.7 € 111.5 € 397.2 (9)% 6%
    Diluted Earnings Per Share (3) € 0.20 € 0.12 € 0.32 € 0.21 € 0.08 € 0.30 (9)% 6%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended March 31, Change
    2025

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2025

    Non-IFRS

    		 2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (260.3) 4.9 0.1 (255.2) (243.8) 2.9 0.2 (240.6) 7% 6%
    Research and development expenses (348.6) 32.5 0.1 (316.0) (311.4) 17.9 0.3 (293.2) 12% 8%
    Marketing and sales expenses (446.5) 24.5 0.1 (421.9) (420.3) 13.7 0.1 (406.5) 6% 4%
    General and administrative expenses (120.4) 26.6 0.0 (93.8) (105.1) 12.3 0.0 (92.7) 15% 1%
    Total   € 88.5 € 0.4     € 46.7 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,332.2 million diluted shares for Q1 2025 and 1,331.1 million diluted shares for Q1 2024, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 260.5 million for Q1 2025 (€ 285.7 million for Q1 2024). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    1 IFRS figures for 1Q25: total revenue at €1.57 billion, operating margin of 19.4% and diluted EPS at €0.20.

    2 Contract Research Organizations

    Attachment

    • Dassault Systèmes: Solid start to the year with strong subscription growth, EPS at the high end of guidance

    The MIL Network –

    April 24, 2025
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