Category: Emissions Trading

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: MONSOON FORECAST AND CLIMATE RESILIENCE

    Source: Government of India

    Posted On: 03 APR 2025 6:43PM by PIB Delhi

    The India Meteorological Department (IMD) has adopted a new strategy for issuing monthly and seasonal operational forecasts for the southwest monsoon rainfall over the country based on both the statistical forecasting system and the newly developed Multi-Model Ensemble (MME) based forecasting system. The MME approach uses the coupled global climate models (CGCMs) from different global climate prediction and research centers, including IMD’s Monsoon Mission Climate Forecasting System (MMCFS) model. The MMCFS and MME forecasts are updated every month. This was to satisfy the demands from different users and Government authorities for the forecasts of the spatial distribution of monthly and seasonal rainfall along with the regionally averaged rainfall forecasts for better regional planning of activities.

    Since introducing the Statistical Ensemble Forecasting System (SEFS) in 2007 and implementing the MME approach in 2021 for seasonal forecasting, IMD operational forecast for the monsoon rainfall has shown noticeable improvement. For example, the average absolute forecast error in the forecasting of all India’s seasonal rainfall has reduced by about 21% during the recent 18 years (2007-2024) compared to the same number of  previous years (1989-2006), which indicates a highly successful forecast in recent years compared to previous years. The anomaly correlation between the observed and forecast ISMR during 2007-2023 was 0.55 compared to -0.21 during 1989-2006. It may be noted that IMD was able to correctly forecast the twin deficient monsoon years of 2014-2015, as well as the below-normal rainfall in 2023 and above-normal rainfall in 2024. These clearly indicate improvement made in the operational forecast system in the recent 18 years period compared to the earlier 18 years period. For 2025, the MME approach will continue to be used as this method introduced in 2021 has shown good skill in forecasting both the area-averaged rainfall at various geographical regions and spatial distribution of rainfall across the country at monthly as well as seasonal scales.

    To strengthen weather and climate services for the agriculture sector, the MoES has launched the Mission Mausam, which is envisaged to be a multi-faceted and transformative initiative to boost India’s weather and climate-related science, research, and services. The Mission is launched to make Bharat a weather-ready and climate-smart nation with the aim that no weather will go undetected and early warning for all. It will help monsoon-dependent agricultural regions, citizens, and last-mile users to tackle extreme weather events and the impacts of climate change in a better way.

    Further, the Mission’s focus includes improving the observations by augmenting various observational networks throughout the country to provide highly accurate and timely weather and climate information across temporal and spatial scales, capacity building, and awareness generation. Apart from physics-based numerical models, the Ministry is developing new methods based on artificial intelligence (AI) and machine learning (ML) technologies for weather, climate, and ocean forecasting systems. And the formulation of collaborative research projects with academic institutions to share knowledge and develop innovative solutions for weather forecasting and climate modeling capabilities. Local user communities such as farmers/agricultural authorities, aviation authorities, power generation & distribution agencies, industries, health agencies, etc., are constantly involved/engaged, and periodic familiarization is imparted through user meet/stakeholder meet awareness programs, etc. The feedback is taken from the communities for the improvement of all-weather & climate services. Extensive use of local languages in forecast dissemination and regularly organizing workshops and awareness programs for community outreach is being undertaken.

    By strengthening the observational network will also help to observe the changes in long-term weather patterns compared to past years to assess the changes in the climate and take measures towards climate resilience.

    The India Meteorological Department (IMD) has been using satellite technology extensively for weather monitoring and forecasting. This started with the use of photographs from Television Infrared Observation Satellites (TIROS-1) launched by the United States of America (USA) in April 1960. These photographs provided new information on cloud systems, including spiral formations associated with large storms, immediately proving their value to operational meteorologists. Over the years, IMD has embraced new developments in satellites and their applications, boosted through global coordination and support, such as geostationary satellites in 1974 and polar-orbiting satellites. With the advent of Indian National Satellites (INSAT) developed by the Space Research Organisation (ISRO) satellites in 1982, IMD has augmented satellite applications utilizing image and data products in collaboration with the ISRO. Currently, IMD is utilizing available international satellites, including European Organisation for the Exploitation of Meteorological Satellites (EUMETSAT) and INSAT-3DR/3DS, as well as polar-orbiting satellites, including Oceansat-3 and Metop-B/C. The utilization of satellite data and products has improved nowcasting and severe weather along with timely detection of large-scale systems like monsoon circulation, cyclones, western disturbances, thunderstorms, etc. Above 90% of the data in the numerical models run by the Ministry of Earth Sciences (MoES) is satellite-based. The assimilation of satellite data in the models has improved the accuracy in short to medium range forecasting by about 20% to 30%. Algorithms/tools developed by IMD/ISRO and other international institutes, such as EUMETSAT, like nowcast tools, RAPID, Dvorak technique, etc., have improved decision-making and forecasting. These data and products are proven to be useful for disaster preparedness. However, there are still gaps in detecting small-scale weather events, such as cloudbursts, thunderstorms, localized heavy rainfall, squalls, hail storms, etc., due to a lack of high-resolution data, products, and satellite-based tools. Considering this, IMD and ISRO are working together for the development of the INSAT-4 series with better sensors and resolution.

    This information was given by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, MoS PMO, Department of Personnel, Public Grievances and Pensions, Department of Space and Department of Atomic Energy, in a written reply in the Rajya Sabha today.   

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    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Minutes – Wednesday, 2 April 2025 – Strasbourg – Final edition

    Source: European Parliament

    PV-10-2025-04-02

    EN

    EN

    iPlPv_Sit

    Minutes
    Wednesday, 2 April 2025 – Strasbourg

    IN THE CHAIR: Sophie WILMÈS
    Vice-President

    1. Opening of the sitting

    The sitting opened at 09:00.


    2. Negotiations ahead of Parliament’s first reading (Rule 72) (action taken)

    The decisions of the LIBE, TRAN and AGRI committees to enter into interinstitutional negotiations had been announced on 31 March 2025 (minutes of 31.3.2025, item 7).

    A request for a vote in Parliament had been formulated by the PfE, ECR, The Left and ESN groups pursuant to Rule 72(2), on the following decision by the LIBE Committee:

    – Proposal for a regulation of the European Parliament and of the Council establishing an EU talent pool (2023/0404(COD))

    The vote would take place the next day, 3 April 2025.

    A request for a vote in Parliament had been formulated by the PfE Group pursuant to Rule 72(2), on the following decision by the AGRI Committee:

    – Proposal for a decision of the European Parliament and of the Council amending Council Decision 2003/17/EC as regards the equivalence of field inspections carried out in the Republic of Moldova on fodder plant seed-producing crops and on the equivalence of fodder plant seed produced in the Republic of Moldova, and as regards the equivalence of field inspections carried out in Ukraine on beet seed-producing crops and oil plant seed-producing crops and on the equivalence of beet seed and oil plant seed produced in Ukraine (2024/0027(COD))

    The vote would take place the next day, 3 April 2025.

    As there had not been any requests for a vote in relation to the other decisions pursuant to Rule 72(2), the committees responsible had been able to begin negotiations upon expiry of the deadline.


    3. European Steel and Metals Action Plan (debate)

    Council and Commission statements: European Steel and Metals Action Plan (2025/2633(RSP))

    Adam Szłapka (President-in-Office of the Council) and Stéphane Séjourné (Executive Vice-President of the Commission) made the statements.

    The following spoke: Dennis Radtke, on behalf of the PPE Group, Dan Nica, on behalf of the S&D Group, Julie Rechagneux, on behalf of the PfE Group, Elena Donazzan, on behalf of the ECR Group, Christophe Grudler, on behalf of the Renew Group, Bas Eickhout, on behalf of the Verts/ALE Group, Marina Mesure, on behalf of The Left Group, René Aust, on behalf of the ESN Group, Christian Ehler, Mohammed Chahim, Tomasz Buczek, Beatrice Timgren, Oihane Agirregoitia Martínez, Sara Matthieu, who also answered a blue-card question from João Oliveira, Rudi Kennes, Susana Solís Pérez, Yannis Maniatis, Jadwiga Wiśniewska, Letizia Moratti, Marie-Pierre Vedrenne, Jens Geier, Michael Bloss, Angelika Winzig, Nicolás González Casares, Ondřej Krutílek, Juan Ignacio Zoido Álvarez, Tilly Metz, Elena Sancho Murillo, Valentina Palmisano and Adam Jarubas.

    IN THE CHAIR: Christel SCHALDEMOSE
    Vice-President

    The following spoke: Bruno Tobback, Beata Szydło, who also answered a blue-card question from Petr Bystron, Massimiliano Salini and Majdouline Sbai.

    The following spoke under the catch-the-eye procedure: Dariusz Joński, Jonás Fernández, Sebastian Tynkkynen, Brigitte van den Berg, Ana Miranda Paz and Maria Zacharia.

    The following spoke: Stéphane Séjourné and Adam Szłapka.

    The debate closed.


    4. Energy-intensive industries (debate)

    Commission statement: Energy-intensive industries (2025/2536(RSP))

    The President made some clarifications on the organisational arrangements of the debate, as a new format was being trialled.

    Stéphane Séjourné (Executive Vice-President of the Commission) made the statement.

    The following spoke: Wouter Beke, on behalf of the PPE Group, Giorgio Gori, on behalf of the S&D Group, Jana Nagyová, on behalf of the PfE Group, Mariateresa Vivaldini, on behalf of the ECR Group, Brigitte van den Berg, on behalf of the Renew Group, Benedetta Scuderi, on behalf of the Verts/ALE Group, Anthony Smith, on behalf of The Left Group, Markus Buchheit, on behalf of the ESN Group, Dan Nica, András Gyürk, Daniel Obajtek, Anna Stürgkh, Per Clausen, Anja Arndt, who also declined to take a blue-card question from Thomas Pellerin-Carlin, Kateřina Konečná, Radan Kanev, Jens Geier, who also answered a blue-card question from Davor Ivo Stier, Mélanie Disdier, who also answered a blue-card question from Thomas Pellerin-Carlin, Kris Van Dijck, Mirosława Nykiel, Bruno Gonçalves, who also answered a blue-card question from João Oliveira, Barbara Bonte, Marc Botenga, Tom Berendsen, Nicolás González Casares, Raffaele Stancanelli, Alexandr Vondra, Seán Kelly, Thomas Pellerin-Carlin, Anne-Sophie Frigout, Milan Mazurek, Pilar del Castillo Vera, Niels Fuglsang, Georg Mayer, Diego Solier, Sofie Eriksson, Mireia Borrás Pabón, Thomas Geisel and Christian Ehler.

    The following spoke under the catch-the-eye procedure: Krzysztof Hetman, Maria Grapini, Sebastian Tynkkynen, Katri Kulmuni, Majdouline Sbai and Lukas Sieper.

    The following spoke: Stéphane Séjourné.

    Motions for resolutions tabled under Rule 136(2) to wind up the debate: minutes of 3.4.2025, item I.

    The debate closed.

    Vote: 3 April 2025.


    IN THE CHAIR: Roberta METSOLA
    President

    5. Progress in the UN-led efforts for the resumption of negotiations towards a solution to the Cyprus problem – Statement by the President

    Progress in the UN-led efforts for the resumption of negotiations towards a solution to the Cyprus problem – Statement by the President (2025/2649(RSP))

    The President made the statement.

    The following spoke: Loucas Fourlas, on behalf of the PPE Group, Costas Mavrides, on behalf of the S&D Group, Afroditi Latinopoulou, on behalf of the PfE Group, Geadis Geadi, on behalf of the ECR Group, Hilde Vautmans, on behalf of the Renew Group, Reinier Van Lanschot, on behalf of the Verts/ALE Group, Giorgos Georgiou, on behalf of The Left Group, and René Aust, on behalf of the ESN Group.

    The debate closed.

    (The sitting was suspended for a few moments.)


    6. Resumption of the sitting

    The sitting resumed at 12:07.


    7. Voting time

    For detailed results of the votes, see also ‘Results of votes’ and ‘Results of roll-call votes’.


    7.1. Guidelines for the 2026 budget – Section III (vote)

    Report on general guidelines for the preparation of the 2026 budget, Section III – Commission [2024/2110(BUI)] – Committee on Budgets. Rapporteur: Andrzej Halicki (A10-0042/2025)

    The debate had taken place on 31 March 2025 (minutes of 31.3.2025, item 12).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)0051)

    The following had spoken:

    Michał Dworczyk, to move an oral amendment to paragraph 12. Parliament had not agreed to put the oral amendment to the vote as more than 39 Members had opposed it.

    (‘Results of votes’, item 1)


    7.2. Agreements on Financial Mechanisms for the period May 2021 – April 2028 (EEA: EU-Iceland-Liechtenstein-Norway; Norwegian: EU-Norway); Additional Protocols to EEC-Norway Agreement and to EEC-Iceland Agreement *** (vote)

    Recommendation on the draft Council decision on the conclusion, on behalf of the European Union, of the Agreement between the European Union, Iceland, the Principality of Liechtenstein and the Kingdom of Norway on an EEA Financial Mechanism for the period May 2021 – April 2028, the Agreement between the Kingdom of Norway and the European Union on a Norwegian Financial Mechanism for the period May 2021 – April 2028, the Additional Protocol to the Agreement between the European Economic Community and the Kingdom of Norway and the Additional Protocol to the Agreement between the European Economic Community and Iceland [10005/2024 – C10-0103/2024 – 2024/0052(NLE)] – Committee on International Trade. Rapporteur: Željana Zovko (A10-0036/2025)

    (Majority of the votes cast)

    DRAFT COUNCIL DECISION

    Approved (P10_TA(2025)0052)

    Parliament consented to the conclusion of the agreements and protocols.

    (‘Results of votes’, item 2)


    7.3. Protocol on the Implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024-2029) *** (vote)

    Recommendation on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol on the implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024–2029) [12475/2024 – C10-0108/2024 – 2024/0159(NLE)] – Committee on Fisheries. Rapporteur: Eric Sargiacomo (A10-0028/2025)

    (Majority of the votes cast)

    DRAFT COUNCIL DECISION

    Approved (P10_TA(2025)0053)

    Parliament consented to the conclusion of the agreement.

    The following had spoken:

    Before the vote, Eric Sargiacomo (rapporteur) to make a statement on his reports on the basis of Rule 165(4).

    (‘Results of votes’, item 3)


    7.4. Protocol on the Implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024-2029) (Resolution) (vote)

    Report containing a motion for a non-legislative resolution on the draft Council decision on the conclusion, on behalf of the European Union, of the Implementing Protocol (2024–2029) to the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau [2024/0159M(NLE)] – Committee on Fisheries. Rapporteur: Eric Sargiacomo (A10-0040/2025)

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)0054)

    (‘Results of votes’, item 4)


    7.5. EU-Bosnia and Herzegovina Agreement: cooperation between Eurojust and the authorities of Bosnia and Herzegovina competent for judicial cooperation in criminal matters *** (vote)

    Recommendation on the draft Council decision on the conclusion on behalf of the European Union of the Agreement between the European Union and Bosnia and Herzegovina on the cooperation between the European Union Agency for Criminal Justice Cooperation (Eurojust) and the authorities of Bosnia and Herzegovina competent for judicial cooperation in criminal matters [COM(2024)0299 – 2024/0167(NLE)] – Committee on Civil Liberties, Justice and Home Affairs. Rapporteur: Jaroslav Bžoch (A10-0027/2025)

    (Majority of the votes cast)

    DRAFT COUNCIL DECISION

    Approved (P10_TA(2025)0055)

    Parliament consented to the conclusion of the agreement.

    (‘Results of votes’, item 5)


    7.6. Strengthening the security of identity cards of Union citizens and of residence documents issued to Union citizens and their family members exercising their right of free movement * (vote)

    Report on the proposal for a Council regulation on strengthening the security of identity cards of Union citizens and of residence documents issued to Union citizens and their family members exercising their right of free movement [COM(2024)0316 – C10-0112/2024 – 2024/0187(CNS)] – Committee on Civil Liberties, Justice and Home Affairs. Rapporteur: Malik Azmani (A10-0041/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL TO THE COUNCIL

    Approved as amended (P10_TA(2025)0056)

    (‘Results of votes’, item 6)


    7.7. Implementation of the common foreign and security policy – annual report 2024 (vote)

    Report on the implementation of the common foreign and security policy – 2024 annual report [2024/2080(INI)] – Committee on Foreign Affairs. Rapporteur: David McAllister (A10-0010/2025)

    The debate had taken place on 1 April 2025 (minutes of 1.4.2025, item 9).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)0057)

    (‘Results of votes’, item 7)


    7.8. Implementation of the common security and defence policy – annual report 2024 (vote)

    Report on the implementation of the common security and defence policy – annual report 2024 [2024/2082(INI)] – Committee on Foreign Affairs. Rapporteur: Nicolás Pascual de la Parte (A10-0011/2025)

    The debate had taken place on 1 April 2025 (minutes of 1.4.2025, item 9).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)0058)

    (‘Results of votes’, item 8)


    7.9. Human rights and democracy in the world and the European Union’s policy on the matter – annual report 2024 (vote)

    Report on human rights and democracy in the world and the European Union’s policy on the matter – annual report 2024 [2024/2081(INI)] – Committee on Foreign Affairs. Rapporteur: Isabel Wiseler-Lima (A10-0012/2025)

    The debate had taken place on 1 April 2025 (minutes of 1.4.2025, item 10).

    (Majority of the votes cast)

    MOTION FOR A RESOLUTION

    Adopted (P10_TA(2025)0059)

    The following had spoken:

    Bernard Guetta, to move an oral amendment to paragraph 4. Parliament had agreed to put the oral amendment to the vote.

    (‘Results of votes’, item 9)

    (The sitting was suspended at 13:41.)


    IN THE CHAIR: Martin HOJSÍK
    Vice-President

    8. Resumption of the sitting

    The sitting resumed at 13:45.


    9. Approval of the minutes of the previous sitting

    The minutes of the previous sitting were approved.


    10. Social Europe: making life affordable, protecting jobs, wages and health for all (topical debate)

    The following spoke: Marie Toussaint to open the debate proposed by the Verts/ALE Group.

    The following spoke: Adam Szłapka (President-in-Office of the Council) and Costas Kadis (Member of the Commission).

    The following spoke: Nikolina Brnjac, on behalf of the PPE Group, Gabriele Bischoff, on behalf of the S&D Group, Jorge Buxadé Villalba, on behalf of the PfE Group, Lara Magoni, on behalf of the ECR Group, Jana Toom, on behalf of the Renew Group, Katrin Langensiepen, on behalf of the Verts/ALE Group, Li Andersson, on behalf of The Left Group, Maravillas Abadía Jover, Estelle Ceulemans, Valérie Deloge, Marlena Maląg, Irena Joveva, Jaume Asens Llodrà, Leila Chaibi, Maria Zacharia, Tomislav Sokol, Camilla Laureti, Pál Szekeres, Georgiana Teodorescu, Eugen Tomac, Maria Ohisalo, Catarina Martins, Jan-Peter Warnke, Regina Doherty, Idoia Mendia, Isabella Tovaglieri, Francesco Torselli, Hristo Petrov, Gordan Bosanac, João Oliveira, Marc Angel, Mélanie Disdier, Nora Junco García, Engin Eroglu, Vicent Marzà Ibáñez, Marit Maij, Dick Erixon, Vytenis Povilas Andriukaitis, Jaak Madison and Johan Danielsson.

    The following spoke: Costas Kadis and Adam Szłapka.

    The debate closed.


    11. European oceans pact (debate)

    Council and Commission statements: European oceans pact (2025/2610(RSP))

    Adam Szłapka (President-in-Office of the Council) and Costas Kadis (Member of the Commission) made the statements.

    IN THE CHAIR: Victor NEGRESCU
    Vice-President

    The following spoke: Gabriel Mato, on behalf of the PPE Group, Christophe Clergeau, on behalf of the S&D Group, António Tânger Corrêa, on behalf of the PfE Group, Veronika Vrecionová, on behalf of the ECR Group, Stéphanie Yon-Courtin, on behalf of the Renew Group, Isabella Lövin, on behalf of the Verts/ALE Group, Emma Fourreau, on behalf of The Left Group, Siegbert Frank Droese, on behalf of the ESN Group, Isabelle Le Callennec, André Rodrigues, France Jamet, Stephen Nikola Bartulica, Oihane Agirregoitia Martínez, Nikolas Farantouris, Carmen Crespo Díaz, who also answered a blue-card question from Ana Miranda Paz, Annalisa Corrado, André Rougé, Ana Vasconcelos, Sebastian Everding, Paulo Do Nascimento Cabral, who also answered a blue-card question from João Oliveira, Nicolás González Casares, Séverine Werbrouck, who also answered a blue-card question from Christophe Clergeau, Emma Wiesner, Jessica Polfjärd, Željana Zovko, Francisco José Millán Mon and Fredis Beleris.

    The following spoke under the catch-the-eye procedure: Ana Miguel Pedro, Rosa Serrano Sierra, Ana Miranda Paz, Lukas Sieper, Nina Carberry, Thomas Bajada, João Oliveira, Giuseppe Lupo and Sofie Eriksson.

    The following spoke: Costas Kadis and Adam Szłapka.

    The debate closed.


    12. Recent legislative changes in Hungary and their impact on fundamental rights (debate)

    Council and Commission statements: Recent legislative changes in Hungary and their impact on fundamental rights (2025/2631(RSP))

    Adam Szłapka (President-in-Office of the Council) and Michael McGrath (Member of the Commission) made the statements.

    The following spoke: Zoltán Tarr, on behalf of the PPE Group, Csaba Molnár, on behalf of the S&D Group, Tamás Deutsch, on behalf of the PfE Group, Jacek Ozdoba, on behalf of the ECR Group, and Fabienne Keller, on behalf of the Renew Group (the President reminded the speaker of the rules on conduct), and Tineke Strik, on behalf of the Verts/ALE Group.

    IN THE CHAIR: Antonella SBERNA
    Vice-President

    The following spoke: Konstantinos Arvanitis, on behalf of The Left Group, Zsuzsanna Borvendég, on behalf of the ESN Group, Adrián Vázquez Lázara, Marc Angel, Paolo Borchia, Paolo Inselvini, Raquel García Hermida-Van Der Walle, Daniel Freund, Ilaria Salis, who also declined to take a blue-card question from Enikő Győri, Milan Uhrík, who also answered a blue-card question from Lukas Sieper, Ľuboš Blaha, who also answered a blue-card question from Raquel García Hermida-Van Der Walle, Monika Hohlmeier, who also answered a blue-card question from Diana Iovanovici Şoşoacă, Krzysztof Śmiszek, who also declined to take a blue-card question from Jacek Ozdoba, Ondřej Knotek, Moritz Körner, Kim Van Sparrentak, Tomasz Froelich, Lukas Sieper, Michał Wawrykiewicz, who also answered a blue-card question from Ernő Schaller-Baross, Chloé Ridel, Fabrice Leggeri, Sigrid Friis, Mélissa Camara, who also answered a blue-card question from Jacek Ozdoba, Reinhold Lopatka, who also answered a blue-card question from Daniel Freund, Evin Incir, Jorge Buxadé Villalba, Rasmus Nordqvist, Regina Doherty, Matjaž Nemec, András László, who also answered a blue-card question from András Tivadar Kulja, Rosa Estaràs Ferragut and Dóra Dávid, who also answered a blue-card question from Annamária Vicsek.

    The following spoke under the catch-the-eye procedure: Maria Walsh, Juan Fernando López Aguilar, Csaba Dömötör and Dainius Žalimas.

    The following spoke: Lukas Sieper, concerning what certain speakers had said.

    The following spoke: Michael McGrath.

    The debate closed.


    13. The importance of trans-European transport infrastructure in times of stalling economic growth and major threats to Europe’s security (debate)

    Council and Commission statements: The importance of trans-European transport infrastructure in times of stalling economic growth and major threats to Europe’s security (2025/2609(RSP))

    Apostolos Tzitzikostas (Member of the Commission) made the statement on behalf of the Commission.

    The following spoke: Jens Gieseke, on behalf of the PPE Group, Johan Danielsson, on behalf of the S&D Group, Roman Haider, on behalf of the PfE Group, Roberts Zīle, on behalf of the ECR Group, Jan-Christoph Oetjen, on behalf of the Renew Group, Kai Tegethoff, on behalf of the Verts/ALE Group, Merja Kyllönen, on behalf of The Left Group, and Siegbert Frank Droese, on behalf of the ESN Group.

    IN THE CHAIR: Javi LÓPEZ
    Vice-President

    The following spoke: Dariusz Joński, Sérgio Gonçalves, Julien Leonardelli, Georgiana Teodorescu, Valérie Devaux, Stanislav Stoyanov, Luis-Vicențiu Lazarus, Sophia Kircher, who also answered a blue-card question from Bogdan Rzońca, François Kalfon, Rody Tolassy, Mario Mantovani, Thomas Geisel, Borja Giménez Larraz, Rosa Serrano Sierra, Ondřej Krutílek, Elena Nevado del Campo, Ştefan Muşoiu, who also answered a blue-card question from João Oliveira, Aurelijus Veryga, Nikolina Brnjac, Piotr Müller and Kosma Złotowski.

    The following spoke under the catch-the-eye procedure: Nina Carberry, Sandra Gómez López, Annamária Vicsek, Antonella Sberna, Oihane Agirregoitia Martínez, João Oliveira, Lefteris Nikolaou-Alavanos and Francisco José Millán Mon.

    The following spoke: Apostolos Tzitzikostas.

    The debate closed.


    14. Outcome of the recent COP16 biodiversity negotiations in Rome (debate)

    Council and Commission statements: Outcome of the recent COP16 biodiversity negotiations in Rome (2025/2636(RSP))

    Jessika Roswall (Member of the Commission) made the statement on behalf of the Commission.

    The following spoke: Christine Schneider, on behalf of the PPE Group, César Luena, on behalf of the S&D Group, Mireia Borrás Pabón, on behalf of the PfE Group, Michele Picaro, on behalf of the ECR Group, Gerben-Jan Gerbrandy, on behalf of the Renew Group, Jutta Paulus, on behalf of the Verts/ALE Group, Carola Rackete, on behalf of The Left Group, Sérgio Humberto, who also answered a blue-card question from João Oliveira, Antonio Decaro, Michal Wiezik, Pär Holmgren and Manuela Ripa.

    The following spoke under the catch-the-eye procedure: Seán Kelly and João Oliveira.

    The following spoke: Jessika Roswall.

    The debate closed.


    15. Delivering on the EU Roma Strategy and the fight against discrimination in the EU (debate)

    Council and Commission statements: Delivering on the EU Roma Strategy and the fight against discrimination in the EU (2025/2611(RSP))

    Hadja Lahbib (Member of the Commission) made the statement on behalf of the Commission.

    IN THE CHAIR: Younous OMARJEE
    Vice-President

    The following spoke: Zoltán Tarr, on behalf of the PPE Group, Murielle Laurent, on behalf of the S&D Group, Elisabeth Dieringer, on behalf of the PfE Group, Alessandro Ciriani, on behalf of the ECR Group, Hristo Petrov, on behalf of the Renew Group, Alice Kuhnke, on behalf of the Verts/ALE Group, Estrella Galán, on behalf of The Left Group, Milan Mazurek, on behalf of the ESN Group, Loránt Vincze, Francisco Assis, who also answered a blue-card question from João Oliveira, Georgiana Teodorescu, Nicolae Ştefănuță, Tomáš Zdechovský, Marcos Ros Sempere, Reinhold Lopatka and Juan Fernando López Aguilar.

    The following spoke under the catch-the-eye procedure: Silvia Sardone, Isabella Tovaglieri, Katrin Langensiepen and João Oliveira.

    The following spoke: Hadja Lahbib.

    The debate closed.


    16. Composition of committees and delegations

    The non-attached Members had notified the President of the following decisions changing the composition of the committees and delegations:

    – Delegation to the EU-Montenegro Stabilisation and Association Parliamentary Committee: Grzegorz Braun

    – Delegation to the OACPS-EU Joint Parliamentary Assembly: Kateřina Konečná

    The decisions took effect as of that day.


    17. Threat to freedom of expression in Algeria: the five-year prison sentence of French writer Boualem Sansal (debate)

    Commission statement: Threat to freedom of expression in Algeria: the five-year prison sentence of French writer Boualem Sansal (2025/2655(RSP))

    Hadja Lahbib (Member of the Commission) made the statement.

    The following spoke: Céline Imart, on behalf of the PPE Group, Emma Rafowicz, on behalf of the S&D Group, Gilles Pennelle, on behalf of the PfE Group, Bernard Guetta, on behalf of the Renew Group, and Alexander Sell, on behalf of the ESN Group.

    The following spoke: Hadja Lahbib.

    The debate closed.


    18. Debate on cases of breaches of human rights, democracy and the rule of law (debate)

    (For the titles and authors of the motions for resolutions, see minutes of 3.4.2025, item I.)


    18.1. Prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior, Tsi Conrad

    Motions for resolutions B10-0230/2025, B10-0231/2025, B10-0232/2025, B10-0233/2025, B10-0234/2025, B10-0235/2025, B10-0236/2025 and B10-0237/2025 (2025/2627(RSP))

    Tomáš Zdechovský, Marta Temido, Catarina Vieira, Rima Hassan and Silvia Sardone introduced their groups’ motions for resolutions.

    The following spoke: Hannes Heide, on behalf of the S&D Group, and Marco Tarquinio.

    The following spoke under the catch-the-eye procedure: Lukas Sieper.

    The following spoke: Hadja Lahbib (Member of the Commission).

    The debate closed.

    Vote: 3 April 2025.


    18.2. Execution spree in Iran and the confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani

    Motions for resolutions B10-0220/2025, B10-0222/2025, B10-0224/2025, B10-0225/2025, B10-0226/2025 and B10-0228/2025 (2025/2628(RSP))

    Danuše Nerudová, Francisco Assis, Veronika Vrecionová, Helmut Brandstätter, Hannah Neumann and Matthieu Valet introduced their groups’ motions for resolutions.

    The following spoke: Milan Zver, on behalf of the PPE Group, Daniel Attard, on behalf of the S&D Group, Petras Auštrevičius, on behalf of the Renew Group, Davor Ivo Stier and Evin Incir.

    The following spoke under the catch-the-eye procedure: Tiago Moreira de Sá.

    The following spoke: Hadja Lahbib (Member of the Commission).

    The debate closed.

    Vote: 3 April 2025.


    18.3. Immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee

    Motions for resolutions B10-0218/2025, B10-0219/2025, B10-0221/2025, B10-0223/2025, B10-0227/2025 and B10-0229/2025 (2025/2629(RSP))

    Miriam Lexmann, Małgorzata Gosiewska, Helmut Brandstätter, Mārtiņš Staķis and Merja Kyllönen introduced their groups’ motions for resolutions.

    The following spoke: Michał Szczerba, on behalf of the PPE Group, Vytenis Povilas Andriukaitis, on behalf of the S&D Group, Dainius Žalimas, on behalf of the Renew Group, and Petar Volgin, on behalf of the ESN Group.

    The following spoke: Hadja Lahbib (Member of the Commission).

    The debate closed.

    Vote: 3 April 2025.


    19. Explanations of vote


    19.1. Implementation of the common foreign and security policy – annual report 2024 (A10-0010/2025 – David McAllister) (oral explanations of vote)

    Petar Volgin


    19.2. Implementation of the common security and defence policy – annual report 2024 (A10-0011/2025 – Nicolás Pascual de la Parte) (oral explanations of vote)

    Kathleen Funchion, Lynn Boylan


    19.3. Written explanations of vote

    Explanations of vote submitted in writing under Rule 201 appear on the Members’ pages on Parliament’s website.


    20. Agenda of the next sitting

    The next sitting would be held the following day, 3 April 2025, starting at 09:00. The agenda was available on Parliament’s website.


    21. Approval of the minutes of the sitting

    In accordance with Rule 208(3), the minutes of the sitting would be put to the House for approval at the beginning of the afternoon of the next sitting.


    22. Closure of the sitting

    The sitting closed at 21:27.


    LIST OF DOCUMENTS SERVING AS A BASIS FOR THE DEBATES AND DECISIONS OF PARLIAMENT


    I. Motions for resolutions tabled

    Prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior, Tsi Conrad

    The following Members or political groups had requested that a debate be held, in accordance with Rule 150, on the following motions for resolutions:

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0230/2025) (2025/2627(RSP))
    Rima Hassan
    on behalf of The Left Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0231/2025) (2025/2627(RSP))
    Tomasz Froelich, Alexander Sell, Petr Bystron
    on behalf of the ESN Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0232/2025) (2025/2627(RSP))
    Catarina Vieira, Mounir Satouri, Maria Ohisalo, Ville Niinistö, Nicolae Ştefănuță
    on behalf of the Verts/ALE Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0233/2025) (2025/2627(RSP))
    Yannis Maniatis, Francisco Assis, Marta Temido
    on behalf of the S&D Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0234/2025) (2025/2627(RSP))
    Silvia Sardone, Susanna Ceccardi, Roberto Vannacci, Nikola Bartůšek
    on behalf of the PfE Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0235/2025) (2025/2627(RSP))
    Jan-Christoph Oetjen, Oihane Agirregoitia Martínez, Petras Auštrevičius, Malik Azmani, Dan Barna, Olivier Chastel, Engin Eroglu, Svenja Hahn, Karin Karlsbro, Ilhan Kyuchyuk, Urmas Paet, Marie-Agnes Strack-Zimmermann, Hilde Vautmans, Lucia Yar
    on behalf of the Renew Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0236/2025) (2025/2627(RSP))
    Sebastião Bugalho, Tomáš Zdechovský, Michael Gahler, Isabel Wiseler-Lima, Michał Wawrykiewicz, Tomas Tobé, Luděk Niedermayer, Seán Kelly, Vangelis Meimarakis, Andrey Kovatchev, Wouter Beke, Danuše Nerudová, Loránt Vincze, Jessica Polfjärd, Łukasz Kohut, Antonio López-Istúriz White, Miriam Lexmann, Inese Vaidere
    on behalf of the PPE Group

    on the prosecution of journalists in Cameroon, notably the cases of Amadou Vamoulké, Kingsley Fomunyuy Njoka, Mancho Bibixy, Thomas Awah Junior and Tsi Conrad (B10-0237/2025) (2025/2627(RSP))
    Adam Bielan, Sebastian Tynkkynen, Ondřej Krutílek, Veronika Vrecionová, Małgorzata Gosiewska, Alexandr Vondra, Waldemar Tomaszewski, Assita Kanko, Ivaylo Valchev, Joachim Stanisław Brudziński
    on behalf of the ECR Group

    Execution spree in Iran and the confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani

    The following Members or political groups had requested that a debate be held, in accordance with Rule 150, on the following motions for resolutions:

    on the execution spree in Iran and confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0220/2025) (2025/2628(RSP))
    Hannah Neumann, Mounir Satouri, Erik Marquardt, Catarina Vieira, Ville Niinistö, Nicolae Ştefănuță, Mélissa Camara, Maria Ohisalo
    on behalf of the Verts/ALE Group

    on the execution spree in Iran and the confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0222/2025) (2025/2628(RSP))
    Matthieu Valet, Pierre-Romain Thionnet, Nikola Bartůšek, Susanna Ceccardi, Silvia Sardone
    on behalf of the PfE Group

    on the execution spree in Iran and confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0224/2025) (2025/2628(RSP))
    Helmut Brandstätter, Oihane Agirregoitia Martínez, Abir Al-Sahlani, Petras Auštrevičius, Malik Azmani, Dan Barna, Olivier Chastel, Veronika Cifrová Ostrihoňová, Engin Eroglu, Bart Groothuis, Svenja Hahn, Karin Karlsbro, Ilhan Kyuchyuk, Nathalie Loiseau, Jan-Christoph Oetjen, Urmas Paet, Hilde Vautmans, Sophie Wilmès, Lucia Yar
    on behalf of the Renew Group

    on the execution spree in Iran and the confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0225/2025) (2025/2628(RSP))
    Yannis Maniatis, Francisco Assis, Daniel Attard, Evin Incir
    on behalf of the S&D Group

    on the execution spree in Iran and confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0226/2025) (2025/2628(RSP))
    Mariusz Kamiński, Sebastian Tynkkynen, Michał Dworczyk, Małgorzata Gosiewska, Ondřej Krutílek, Veronika Vrecionová, Waldemar Tomaszewski, Alexandr Vondra, Aurelijus Veryga, Assita Kanko
    on behalf of the ECR Group

    on the execution spree in Iran and confirmation of the death sentences of activists Behrouz Ehsani and Mehdi Hassani (B10-0228/2025) (2025/2628(RSP))
    Sebastião Bugalho, Loucas Fourlas, Michael Gahler, Isabel Wiseler-Lima, Michał Wawrykiewicz, Tomas Tobé, Luděk Niedermayer, Seán Kelly, Vangelis Meimarakis, Andrey Kovatchev, Wouter Beke, Danuše Nerudová, Loránt Vincze, Jessica Polfjärd, Łukasz Kohut, Antonio López-Istúriz White, Tomáš Zdechovský, Miriam Lexmann, Inese Vaidere
    on behalf of the PPE Group

    Immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee

    The following Members or political groups had requested that a debate be held, in accordance with Rule 150, on the following motions for resolutions:

    on the immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the Investigative Committee (B10-0218/2025) (2025/2629(RSP))
    Merja Kyllönen
    on behalf of The Left Group

    on the immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee (B10-0219/2025) (2025/2629(RSP))
    Mārtiņš Staķis, Maria Ohisalo, Mounir Satouri, Lena Schilling, Markéta Gregorová, Catarina Vieira, Nicolae Ştefănuță, Ville Niinistö, Sergey Lagodinsky
    on behalf of the Verts/ALE Group

    on the immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the Investigative Committee (B10-0221/2025) (2025/2629(RSP))
    Yannis Maniatis, Francisco Assis, Robert Biedroń
    on behalf of the S&D Group

    on the immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee (B10-0223/2025) (2025/2629(RSP))
    Adam Bielan, Małgorzata Gosiewska, Mariusz Kamiński, Michał Dworczyk, Maciej Wąsik, Sebastian Tynkkynen, Ondřej Krutílek, Veronika Vrecionová, Alexandr Vondra, Assita Kanko, Aurelijus Veryga, Rihards Kols, Joachim Stanisław Brudziński, Ivaylo Valchev, Roberts Zīle
    on behalf of the ECR Group

    on the immediate risk of further repression by Lukashenka’s regime in Belarus – threats from the Investigative Committee (B10-0227/2025) (2025/2629(RSP))
    Michał Kobosko, Oihane Agirregoitia Martínez, Petras Auštrevičius, Malik Azmani, Dan Barna, Helmut Brandstätter, Olivier Chastel, Veronika Cifrová Ostrihoňová, Engin Eroglu, Svenja Hahn, Karin Karlsbro, Ľubica Karvašová, Ilhan Kyuchyuk, Jan-Christoph Oetjen, Urmas Paet, Hilde Vautmans, Lucia Yar, Dainius Žalimas
    on behalf of the Renew Group

    on the immediate risk of further repression by Lukashenka’s regime in Belarus: threats from the investigative Committee (B10-0229/2025) (2025/2629(RSP))
    Sebastião Bugalho, Miriam Lexmann, Michael Gahler, Isabel Wiseler-Lima, Michał Wawrykiewicz, Tomas Tobé, Dariusz Joński, Luděk Niedermayer, Seán Kelly, Vangelis Meimarakis, Andrey Kovatchev, Wouter Beke, Danuše Nerudová, Loránt Vincze, Jessica Polfjärd, Sandra Kalniete, Łukasz Kohut, Antonio López-Istúriz White, Tomáš Zdechovský, Inese Vaidere
    on behalf of the PPE Group


    II. Delegated acts (Rule 114(2))

    Draft delegated acts forwarded to Parliament

    – Commission Delegated Regulation correcting certain language versions of Delegated Regulation (EU) 2024/857 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying a standardised methodology and a simplified standardised methodology to evaluate the risks arising from potential changes in interest rates that affect both the economic value of equity and the net interest income of an institution’s non-trading book activities (C(2025)01555 – 2025/2614(DEA))

    Deadline for raising objections: 3 months from the date of receipt of 17 March 2025

    referred to committee responsible: ECON

    – Commission Delegated Regulation correcting the Dutch language version of Delegated Regulation (EU) 2019/945 on unmanned aircraft systems and on third-country operators of unmanned aircraft systems (C(2025)01614 – 2025/2625(DEA))

    Deadline for raising objections: 2 months from the date of receipt of 24 March 2025

    referred to committee responsible: TRAN

    – Commission Delegated Regulation correcting Delegated Regulation (EU) 2018/273 as regards the import of wine originating in Canada (C(2025)01628 – 2025/2617(DEA))

    Deadline for raising objections: 2 months from the date of receipt of 19 March 2025

    referred to committee responsible: AGRI

    – Commission Delegated Regulation supplementing Regulation (EU) 2023/1542 of the European Parliament and of the Council by establishing the methodology for calculation and verification of rates for recycling efficiency and recovery of materials from waste batteries, and the format for the documentation (C(2025)01674 – 2025/2621(DEA))

    Deadline for raising objections: 3 months from the date of receipt of 21 March 2025

    referred to committee responsible: ENVI
    opinion: ITRE, IMCO

    – Commission Delegated Regulation supplementing Regulation (EU) 2022/2554 of the European Parliament and of the Council with regard to regulatory technical standards specifying the elements that a financial entity has to determine and assess when subcontracting ICT services supporting critical or important functions (C(2025)01682 – 2025/2623(DEA))

    Deadline for raising objections: 3 months from the date of receipt of 24 March 2025

    referred to committee responsible: ECON

    – Commission Delegated Regulation (EU) amending Regulation (EU) No 691/2011 of the European Parliament and of the Council as regards investments on climate change mitigation and introducing the classification of environmental purposes (C(2025)01777 – 2025/2643(DEA))

    Deadline for raising objections: 2 months from the date of receipt of 26 March 2025

    referred to committee responsible: ENVI

    – Commission Delegated Regulation supplementing Regulation (EU) 2024/1449 of the European Parliament and of the Council establishing the Reform and Growth Facility for the Western Balkans by setting out the elements of the scoreboard for the Reform and Growth Facility (C(2025)01810 – 2025/2651(DEA))

    Deadline for raising objections: 1 month from the date of receipt of 28 March 2025

    referred to committee responsible: AFET, BUDG

    – Commission Delegated Regulation correcting Delegated Regulation (EU) 2022/126 supplementing Regulation (EU) 2021/2115 of the European Parliament and of the Council with additional requirements for certain types of intervention specified by Member States in their CAP Strategic Plans for the period 2023 to 2027 under that Regulation as well as rules on the ratio for the good agricultural and environmental conditions (GAEC) standard 1 (C(2025)01846 – 2025/2652(DEA))

    Deadline for raising objections: 2 months from the date of receipt of 31 March 2025

    referred to committee responsible: AGRI
    opinion: ENVI

    Draft delegated act for which the period for raising objections had been extended

    – Commission Delegated Regulation amending Delegated Regulation (EU) 2019/1122 supplementing Directive 2003/87/EC of the European Parliament and of the Council as regards the functioning of the Union Registry C(2025)00814 – 2025/2562(DEA)

    Deadline for raising objections: 2 months from the date of receipt of 11 February 2025

    Extension of the deadline for raising objections: 2 months at the request of the Council

    referred to committee responsible: ENVI
    opinion: ITRE


    III. Implementing measures (Rule 115)

    Draft implementing measures falling under the regulatory procedure with scrutiny forwarded to Parliament

    – Commission Regulation (EU) amending Regulation (EU) No 142/2011 as regards requirements for the import of used cooking oil (D098112/02 – 2025/2615(RPS) – deadline: 18 June 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Annexes II and III to Regulation (EC) No 396/2005 of the European Parliament and of the Council as regards maximum residue levels for cyantraniliprole, cyflumetofen, deltamethrin, mefentrifluconazole, mepiquat and oxathiapiprolin in or on certain products (D102376/03 – 2025/2626(RPS) – deadline: 26 May 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Regulation (EC) No 1907/2006 of the European Parliament and of the Council as regards carcinogens, germ cell mutagens or reproductive toxicants subject to restrictions (D102504/02 – 2025/2607(RPS) – deadline: 11 June 2025)
    referred to committee responsible: ENVI
    opinion: ITRE, IMCO

    – Commission Regulation amending Annexes II, III and IV to Regulation (EC) No 396/2005 of the European Parliament and of the Council as regards maximum residue levels for amidosulfuron, azoxystrobin, hexythiazox, isoxaben, picloram, propamocarb, sodium silver thiosulfate and tefluthrin in or on certain products (D105252/02 – 2025/2622(RPS) – deadline: 21 May 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Annexes II, III and V to Regulation (EC) No 396/2005 of the European Parliament and of the Council as regards maximum residue levels for chlorpropham, fuberidazole, ipconazole, methoxyfenozide, S-metolachlor and triflusulfuron in or on certain products (D105253/03 – 2025/2624(RPS) – deadline: 25 May 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Annex I to Regulation (EC) No 1334/2008 of the European Parliament and of the Council as regards the inclusion of Naringenin and 2‐methyl‐1‐(2‐(5‐(p‐tolyl)‐1H‐imidazol‐2‐yl)piperidin‐1‐yl)butan‐1‐one in the Union list of flavourings (D105330/02 – 2025/2620(RPS) – deadline: 21 May 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Annex III to Regulation (EC) No 1333/2008 of the European Parliament and of the Council as regards the use of sodium ascorbate (E 301) in vitamin A preparations intended for infant formula and follow-on formula (D105364/02 – 2025/2619(RPS) – deadline: 21 May 2025)
    referred to committee responsible: ENVI

    – Commission Regulation amending Regulation (EU) 2023/1803 as regards International Financial Reporting Standards 1, 7, 9 and 10, and International Accounting Standard 7 (Text with EEA relevance) (D105674/01 – 2025/2616(RPS) – deadline: 11 June 2025)
    referred to committee responsible: ECON
    opinion: JURI


    IV. Transfers of appropriations and budgetary decisions

    In accordance with Article 31(1) of the Financial Regulation, the Committee on Budgets had decided to approve the Commission’s transfer of appropriations DEC 02/2025 – Section III – Commission.

    In accordance with Article 31(6) of the Financial Regulation, the Council of the European Union had decided to approve the European Commission’s transfer of appropriations DEC 02/2025 – Section III – Commission.

    In accordance with Article 31(6) of the Financial Regulation, the Council of the European Union had decided to approve transfer of appropriations 1-DEC/2025 – Section IV Court of Justice.


    In accordance with Article 31(6) of the Financial Regulation, the Council of the European Union had decided to approve transfer of appropriations DEC-01/T/2025 – Section V Court of Auditors.

    In accordance with Articles 31 and 49 of the Financial Regulation, the Committee on Budgets had decided to approve transfer of appropriations 1-DEC – Section IV Court of Justice.

    In accordance with Articles 31 and 49 of the Financial Regulation, the Committee on Budgets had decided to approve transfer of appropriations V/DEC-01/T/25 – Section V Court of Auditors.


    V. Documents received

    The following documents had been received from other institutions:

    – Proposal for transfer of appropriations DEC 03/2025 – Section III – Commission (N10-0011/2025 – C10-0050/2025 – 2025/2066(GBD))
    referred to committee responsible: BUDG

    – Proposal for transfer of appropriations DEC 04/2025 – Section III – Commission (N10-0012/2025 – C10-0053/2025 – 2025/2068(GBD))
    referred to committee responsible: BUDG


    ATTENDANCE REGISTER

    Present:

    Aaltola Mika, Abadía Jover Maravillas, Adamowicz Magdalena, Aftias Georgios, Agirregoitia Martínez Oihane, Agius Peter, Agius Saliba Alex, Alexandraki Galato, Allione Grégory, Al-Sahlani Abir, Anadiotis Nikolaos, Anderson Christine, Andersson Li, Andresen Rasmus, Andrews Barry, Andriukaitis Vytenis Povilas, Androuët Mathilde, Angel Marc, Annemans Gerolf, Annunziata Lucia, Arias Echeverría Pablo, Arimont Pascal, Arłukowicz Bartosz, Arnaoutoglou Sakis, Arndt Anja, Arvanitis Konstantinos, Asens Llodrà Jaume, Assis Francisco, Attard Daniel, Aubry Manon, Auštrevičius Petras, Axinia Adrian-George, Azmani Malik, Bajada Thomas, Baljeu Jeannette, Ballarín Cereza Laura, Bardella Jordan, Barley Katarina, Barna Dan, Barrena Arza Pernando, Bartulica Stephen Nikola, Bartůšek Nikola, Bausemer Arno, Bay Nicolas, Bay Christophe, Beke Wouter, Beleris Fredis, Bellamy François-Xavier, Benifei Brando, Benjumea Benjumea Isabel, Beňová Monika, Bentele Hildegard, Berendsen Tom, Berger Stefan, Berlato Sergio, Bernhuber Alexander, Biedroń Robert, Bielan Adam, Bischoff Gabriele, Blaha Ľuboš, Blinkevičiūtė Vilija, Blom Rachel, Bloss Michael, Bocheński Tobiasz, Boeselager Damian, Bogdan Ioan-Rareş, Bonaccini Stefano, Bonte Barbara, Borchia Paolo, Borrás Pabón Mireia, Borvendég Zsuzsanna, Borzan Biljana, Bosanac Gordan, Boßdorf Irmhild, Bosse Stine, Botenga Marc, Boyer Gilles, Boylan Lynn, Brandstätter Helmut, Brasier-Clain Marie-Luce, Braun Grzegorz, Brejza Krzysztof, Bricmont Saskia, Brnjac Nikolina, Brudziński Joachim Stanisław, Buchheit Markus, Buczek Tomasz, Buda Daniel, Buda Waldemar, Budka Borys, Bugalho Sebastião, Buła Andrzej, Bullmann Udo, Burkhardt Delara, Buxadé Villalba Jorge, Bystron Petr, Bžoch Jaroslav, Camara Mélissa, Canfin Pascal, Carberry Nina, Cârciu Gheorghe, Carême Damien, Casa David, Caspary Daniel, Castillo Laurent, del Castillo Vera Pilar, Cavazzini Anna, Cavedagna Stefano, Ceccardi Susanna, Cepeda José, Ceulemans Estelle, Chahim Mohammed, Chaibi Leila, Chastel Olivier, Chinnici Caterina, Christensen Asger, Cifrová Ostrihoňová Veronika, Ciriani Alessandro, Cisint Anna Maria, Clausen Per, Clergeau Christophe, Cormand David, Corrado Annalisa, Costanzo Vivien, Cotrim De Figueiredo João, Cowen Barry, Cremer Tobias, Crespo Díaz Carmen, Cristea Andi, Crosetto Giovanni, Cunha Paulo, Dahl Henrik, Danielsson Johan, Dávid Dóra, David Ivan, de la Hoz Quintano Raúl, Della Valle Danilo, Deloge Valérie, De Masi Fabio, De Meo Salvatore, Demirel Özlem, Deutsch Tamás, Devaux Valérie, Dibrani Adnan, Diepeveen Ton, Dieringer Elisabeth, Dîncu Vasile, Di Rupo Elio, Disdier Mélanie, Dobrev Klára, Doherty Regina, Doleschal Christian, Dömötör Csaba, Do Nascimento Cabral Paulo, Donazzan Elena, Dorfmann Herbert, Dostalova Klara, Dostál Ondřej, Droese Siegbert Frank, Düpont Lena, Dworczyk Michał, Ecke Matthias, Ehler Christian, Ehlers Marieke, Eriksson Sofie, Erixon Dick, Eroglu Engin, Estaràs Ferragut Rosa, Everding Sebastian, Ezcurra Almansa Alma, Falcă Gheorghe, Falcone Marco, Farantouris Nikolas, Farreng Laurence, Farský Jan, Ferber Markus, Ferenc Viktória, Fernández Jonás, Fidanza Carlo, Fiocchi Pietro, Firea Gabriela, Firmenich Ruth, Fita Claire, Flanagan Luke Ming, Fourlas Loucas, Fourreau Emma, Fragkos Emmanouil, Freund Daniel, Frigout Anne-Sophie, Friis Sigrid, Fritzon Heléne, Froelich Tomasz, Fuglsang Niels, Funchion Kathleen, Furet Angéline, Furore Mario, Gahler Michael, Gál Kinga, Galán Estrella, Gálvez Lina, Gambino Alberico, García Hermida-Van Der Walle Raquel, Garraud Jean-Paul, Gasiuk-Pihowicz Kamila, Geadi Geadis, Gedin Hanna, Geese Alexandra, Geier Jens, Geisel Thomas, Gemma Chiara, Georgiou Giorgos, Gerbrandy Gerben-Jan, Germain Jean-Marc, Gerzsenyi Gabriella, Geuking Niels, Gieseke Jens, Giménez Larraz Borja, Girauta Vidal Juan Carlos, Glavak Sunčana, Glück Andreas, Glucksmann Raphaël, Goerens Charles, Gomart Christophe, Gomes Isilda, Gómez López Sandra, Gonçalves Bruno, Gonçalves Sérgio, González Casares Nicolás, González Pons Esteban, Gori Giorgio, Gosiewska Małgorzata, Gotink Dirk, Gozi Sandro, Grapini Maria, Gražulis Petras, Gregorová Markéta, Grims Branko, Griset Catherine, Gronkiewicz-Waltz Hanna, Groothuis Bart, Grossmann Elisabeth, Grudler Christophe, Gualmini Elisabetta, Guarda Cristina, Guetta Bernard, Guzenina Maria, Győri Enikő, Gyürk András, Hadjipantela Michalis, Hahn Svenja, Haider Roman, Halicki Andrzej, Hansen Niels Flemming, Hassan Rima, Hauser Gerald, Häusling Martin, Hava Mircea-Gheorghe, Heide Hannes, Heinäluoma Eero, Henriksson Anna-Maja, Herbst Niclas, Herranz García Esther, Hetman Krzysztof, Hohlmeier Monika, Hojsík Martin, Holmgren Pär, Homs Ginel Alicia, Humberto Sérgio, Ijabs Ivars, Imart Céline, Incir Evin, Inselvini Paolo, Iovanovici Şoşoacă Diana, Jalloul Muro Hana, Jamet France, Jarubas Adam, Jerković Romana, Jongen Marc, Joński Dariusz, Joron Virginie, Jouvet Pierre, Joveva Irena, Juknevičienė Rasa, Junco García Nora, Jungbluth Alexander, Kalfon François, Kaliňák Erik, Kaljurand Marina, Kalniete Sandra, Kamiński Mariusz, Kanev Radan, Kanko Assita, Karlsbro Karin, Kartheiser Fernand, Karvašová Ľubica, Katainen Elsi, Kefalogiannis Emmanouil, Kelleher Billy, Keller Fabienne, Kelly Seán, Kemp Martine, Kennes Rudi, Khan Mary, Kircher Sophia, Knafo Sarah, Knotek Ondřej, Kobosko Michał, Kohut Łukasz, Kolář Ondřej, Kollár Kinga, Kols Rihards, Konečná Kateřina, Kopacz Ewa, Körner Moritz, Kountoura Elena, Kovařík Ondřej, Kovatchev Andrey, Krištopans Vilis, Kruis Sebastian, Krutílek Ondřej, Kubín Tomáš, Kuhnke Alice, Kulja András Tivadar, Kulmuni Katri, Kyllönen Merja, Kyuchyuk Ilhan, Lakos Eszter, Lalucq Aurore, Lange Bernd, Langensiepen Katrin, Laššáková Judita, László András, Latinopoulou Afroditi, Laurent Murielle, Laureti Camilla, Laykova Rada, Lazarov Ilia, Lazarus Luis-Vicențiu, Le Callennec Isabelle, Leggeri Fabrice, Lenaers Jeroen, Leonardelli Julien, Lewandowski Janusz, Lexmann Miriam, Liese Peter, Lins Norbert, Loiseau Nathalie, Løkkegaard Morten, Lopatka Reinhold, López Javi, López Aguilar Juan Fernando, López-Istúriz White Antonio, Lövin Isabella, Lucano Mimmo, Luena César, Łukacijewska Elżbieta Katarzyna, Lupo Giuseppe, McAllister David, Madison Jaak, Maestre Cristina, Magoni Lara, Maij Marit, Maląg Marlena, Manda Claudiu, Mandl Lukas, Maniatis Yannis, Mantovani Mario, Maran Pierfrancesco, Marczułajtis-Walczak Jagna, Mariani Thierry, Marino Ignazio Roberto, Marquardt Erik, Martins Catarina, Marzà Ibáñez Vicent, Mato Gabriel, Matthieu Sara, Mavrides Costas, Maydell Eva, Mayer Georg, Mazurek Milan, Mažylis Liudas, McNamara Michael, Mebarek Nora, Mehnert Alexandra, Meimarakis Vangelis, Mendes Ana Catarina, Mendia Idoia, Mertens Verena, Mesure Marina, Metsola Roberta, Metz Tilly, Mikser Sven, Milazzo Giuseppe, Millán Mon Francisco José, Minchev Nikola, Miranda Paz Ana, Molnár Csaba, Montero Irene, Montserrat Dolors, Morace Carolina, Morano Nadine, Moratti Letizia, Moreira de Sá Tiago, Moreno Sánchez Javier, Motreanu Dan-Ştefan, Mularczyk Arkadiusz, Müller Piotr, Mullooly Ciaran, Mureşan Siegfried, Muşoiu Ştefan, Nagyová Jana, Nardella Dario, Navarrete Rojas Fernando, Negrescu Victor, Nemec Matjaž, Nerudová Danuše, Nesci Denis, Neuhoff Hans, Neumann Hannah, Nevado del Campo Elena, Nica Dan, Niebler Angelika, Niedermayer Luděk, Niinistö Ville, Nikolaou-Alavanos Lefteris, Nikolic Aleksandar, Ní Mhurchú Cynthia, Noichl Maria, Nordqvist Rasmus, Novakov Andrey, Nykiel Mirosława, Obajtek Daniel, Ódor Ľudovít, Oetjen Jan-Christoph, Ohisalo Maria, Oliveira João, Omarjee Younous, Ó Ríordáin Aodhán, Orlando Leoluca, Ozdoba Jacek, Paet Urmas, Pajín Leire, Palmisano Valentina, Papadakis Kostas, Papandreou Nikos, Pappas Nikos, Pascual de la Parte Nicolás, Patriciello Aldo, Paulus Jutta, Pedro Ana Miguel, Pedulla’ Gaetano, Pellerin-Carlin Thomas, Peltier Guillaume, Penkova Tsvetelina, Pennelle Gilles, Pereira Lídia, Pérez Alvise, Peter-Hansen Kira Marie, Petrov Hristo, Picaro Michele, Picierno Pina, Picula Tonino, Piera Pascale, Pietikäinen Sirpa, Pimpie Pierre, Piperea Gheorghe, de la Pisa Carrión Margarita, Pokorná Jermanová Jaroslava, Polato Daniele, Polfjärd Jessica, Popescu Virgil-Daniel, Pozņaks Reinis, Prebilič Vladimir, Princi Giusi, Protas Jacek, Rackete Carola, Radev Emil, Radtke Dennis, Rafowicz Emma, Ratas Jüri, Razza Ruggero, Rechagneux Julie, Regner Evelyn, Repasi René, Repp Sabrina, Ressler Karlo, Reuten Thijs, Riba i Giner Diana, Ricci Matteo, Ridel Chloé, Riehl Nela, Ripa Manuela, Rodrigues André, Ros Sempere Marcos, Roth Neveďalová Katarína, Rougé André, Ruissen Bert-Jan, Ruotolo Sandro, Rzońca Bogdan, Saeidi Arash, Salini Massimiliano, Salis Ilaria, Salla Aura, Sánchez Amor Nacho, Sanchez Julien, Sancho Murillo Elena, Saramo Jussi, Sardone Silvia, Šarec Marjan, Sargiacomo Eric, Satouri Mounir, Saudargas Paulius, Sbai Majdouline, Sberna Antonella, Schaldemose Christel, Schaller-Baross Ernő, Schenk Oliver, Scheuring-Wielgus Joanna, Schieder Andreas, Schilling Lena, Schneider Christine, Schwab Andreas, Scuderi Benedetta, Seekatz Ralf, Sell Alexander, Serrano Sierra Rosa, Serra Sánchez Isabel, Sidl Günther, Sienkiewicz Bartłomiej, Sieper Lukas, Simon Sven, Singer Christine, Sinkevičius Virginijus, Sippel Birgit, Sjöstedt Jonas, Śmiszek Krzysztof, Smith Anthony, Smit Sander, Sokol Tomislav, Solier Diego, Solís Pérez Susana, Sommen Liesbet, Sonneborn Martin, Sorel Malika, Sousa Silva Hélder, Søvndal Villy, Squarta Marco, Staķis Mārtiņš, Stancanelli Raffaele, Ştefănuță Nicolae, Steger Petra, Stier Davor Ivo, Storm Kristoffer, Stöteler Sebastiaan, Stoyanov Stanislav, Strada Cecilia, Streit Joachim, Strik Tineke, Strolenberg Anna, Sturdza Şerban Dimitrie, Stürgkh Anna, Szczerba Michał, Szekeres Pál, Szydło Beata, Tamburrano Dario, Tânger Corrêa António, Tarczyński Dominik, Tarquinio Marco, Tarr Zoltán, Târziu Claudiu-Richard, Tavares Carla, Tegethoff Kai, Temido Marta, Teodorescu Georgiana, Teodorescu Måwe Alice, Terheş Cristian, Ter Laak Ingeborg, Terras Riho, Tertsch Hermann, Thionnet Pierre-Romain, Timgren Beatrice, Tinagli Irene, Tobback Bruno, Tobé Tomas, Tolassy Rody, Tomac Eugen, Tomašič Zala, Tomaszewski Waldemar, Tomc Romana, Tonin Matej, Toom Jana, Topo Raffaele, Torselli Francesco, Tosi Flavio, Toussaint Marie, Tovaglieri Isabella, Toveri Pekka, Tridico Pasquale, Trochu Laurence, Tsiodras Dimitris, Turek Filip, Tynkkynen Sebastian, Uhrík Milan, Ušakovs Nils, Vaidere Inese, Valchev Ivaylo, Vălean Adina, Valet Matthieu, Van Brempt Kathleen, Van Brug Anouk, van den Berg Brigitte, Vandendriessche Tom, Van Dijck Kris, Van Lanschot Reinier, Van Leeuwen Jessika, Vannacci Roberto, Van Overtveldt Johan, Van Sparrentak Kim, Varaut Alexandre, Vasconcelos Ana, Vasile-Voiculescu Vlad, Vautmans Hilde, Vedrenne Marie-Pierre, Ventola Francesco, Verougstraete Yvan, Veryga Aurelijus, Vešligaj Marko, Vicsek Annamária, Vieira Catarina, Vigenin Kristian, Vilimsky Harald, Vincze Loránt, Vind Marianne, Vistisen Anders, Vivaldini Mariateresa, Volgin Petar, von der Schulenburg Michael, Vondra Alexandr, Voss Axel, Vozemberg-Vrionidi Elissavet, Vrecionová Veronika, Vázquez Lázara Adrián, Waitz Thomas, Walsh Maria, Walsmann Marion, Warborn Jörgen, Warnke Jan-Peter, Wąsik Maciej, Wawrykiewicz Michał, Wcisło Marta, Wechsler Andrea, Weimers Charlie, Werbrouck Séverine, Wiesner Emma, Wiezik Michal, Wilmès Sophie, Winkler Iuliu, Winzig Angelika, Wiseler-Lima Isabel, Wiśniewska Jadwiga, Wölken Tiemo, Wolters Lara, Yar Lucia, Yon-Courtin Stéphanie, Yoncheva Elena, Zalewska Anna, Žalimas Dainius, Zan Alessandro, Zarzalejos Javier, Zdechovský Tomáš, Zdrojewski Bogdan Andrzej, Zijlstra Auke, Zīle Roberts, Zingaretti Nicola, Złotowski Kosma, Zoido Álvarez Juan Ignacio, Zovko Željana, Zver Milan

    MIL OSI Europe News

  • MIL-OSI Australia: Digging into soil conservation

    Source: Tasmania Police

    Issued: 2 Apr 2025

    Meet the women leading the next generation of soil stewardship from the ground up as they embark on a new graduate program led by the Department of the Environment, Tourism, Science and Innovation.

    Jessica Cook, Mali Eagle and Bec Reeves will be digging into the world of agricultural and environmental science, with a focus on preserving Queensland’s soil health, through the new Queensland Soil Science Graduate and First Nations Engagement Program.

    Queensland Chief Scientist Professor Kerrie Wilson said the program would help build Queensland’s capability in this important science sector as the trio would work with leading soil scientists and First Nations groups to develop innovative ways to enhance farming practices and protect our natural environment.

    “This is such an exciting collaboration, with these graduates’ understanding of soil helping to inform agricultural management strategies, which will positively contribute to the sustainability of our environment,” Prof Wilson said.

    “Soil is important to everyone – without soil we don’t have plants, and without plants we don’t have food or oxygen.

    “The program will accelerate the training and development of graduate scientists and rangers in both western and traditional soil science practices to address critical knowledge and capability gaps.

    “First Nations peoples were Queensland’s first scientists, and their knowledge is key to protecting our biodiversity for generations to come.

    “I look forward to seeing these women lead the way in soil science and become the next generation of soil science practitioners.”

    As part of their training, the graduates will be hosted by a regional Natural Resource Management (NRM) organisation and a Queensland Government agency over 12 months.

    The Queensland Soil Science Graduate and First Nations Engagement Program is a $1.1M initiative jointly funded by the State and Federal governments as part of the $20M National Soil Action Plan.

    Soil science ranger Bec Reeves said the opportunity to contribute to cultural conservation practices and learn more about soil processes such as soil survey techniques and digital soils mapping analyses was exciting.

    “I’m a very hands-on and practical learner and enjoy being On Country, so getting to go out and get your hands dirty certainly piqued my interest,” she said.

    “I am passionate about the environment and want to learn as much as possible while I’m in this program.

    “There are so many niches within soil science and culturally for me as a First Nations person, the connection around environmental practices and conservation practices like traditional burning is something I’m really interested in exploring.”

    An additional three graduates will be employed as part of the Queensland Soil Science Graduate and First Nations Engagement Program in 2026.

    View more information about the National Soil Action Plan program

    Media contact:                  DETSI Media Unit on (07) 3339 5831 or media@des.qld.gov.au

    MIL OSI News

  • MIL-OSI: reAlpha Tech Corp. Announces Financial Results for the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, April 02, 2025 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (Nasdaq: AIRE) (the “Company” or “reAlpha”), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today provides a business update and reports financial results for the fiscal year ended December 31, 2024.

    “We have made great strides in 2024 in advancing reAlpha’s goal to become a leader in the real estate technology industry through strategic innovation and impactful acquisitions,” commented Piyush Phadke, Chief Financial Officer of reAlpha. “Our continued investment in AI-driven technologies and strategic acquisitions has translated into meaningful revenue growth, and we believe we are well-positioned to drive further expansion of our business and deliver value to our stockholders.”

    Business Highlights

    Strategic and operational highlights during the period ended December 31, 2024, include:

    • Launched the reAlpha platform, an end-to-end, commission-free homebuying platform, in April 2024, which was designed to reshape the homebuying experience by eliminating traditional commission fees. The reAlpha platform is powered by Claire, reAlpha’s AI-real estate agent, which is available 24/7.
    • Acquired a controlling interest in Hyperfast Title, LLC, in July 2024, which enabled us to offer title services in 3 U.S. states.
    • Acquired an 85% stake in AiChat Pte. Ltd. (“AiChat”) in July 2024, which enhanced reAlpha’s AI capabilities in conversational customer engagement and expanded its presence in the Asia-Pacific region.
    • Introduced the reAlpha Super App in August 2024, which provided homebuyers with the ability to use the reAlpha platform and its AI-driven homebuying services directly in their mobile devices.
    • Completed the acquisition of Debt Does Deals, LLC (“Be My Neighbor”), which allowed us to offer mortgage brokerage services in 27 U.S. states. Later in the year, Be My Neighbor became licensed in an additional state, for a total of 28 U.S. states.

    Financial Results and Operational Update

    In the beginning of 2024, reAlpha halted its short-term rental operations under its rental business segment due to macroeconomic conditions, such as high interest rates and inflationary pressures. As a result, in the twelve months ended December 31, 2024, reAlpha recognized a goodwill impairment of Roost Enterprises, Inc. (“Rhove”) of $17,337,739, which reAlpha acquired to operate under its rental business segment. As such, reAlpha’s financial statements and related financial notes thereto for the twelve months ended December 31, 2024, reflect the Rhove goodwill impairment as discontinued operations. Because macroeconomic conditions persisted during 2024, and in connection with Rhove’s goodwill impairment, the board of directors of reAlpha approved to discontinue its short-term rental business operations entirely in the first quarter of 2025.

    Revenue for the twelve months ended December 31, 2024 was $948,420, an increase of 270%, compared to $256,436 for the twelve months ended December 31, 2023. reAlpha’s revenues consist of technology services income that it receives from its technologies and services provided by its subsidiaries. This increase in revenues is mainly attributed to the revenue derived from strategic acquisitions that reAlpha completed during 2024, such as AiChat and Be My Neighbor.

    Cash and cash equivalents were $3,123,530 as of December 31, 2024 and $ 6,456,370 as of December 31, 2023.

    Net loss was approximately $26.02 million for the twelve months ended December 31, 2024, compared to a net loss of approximately $2.46 million for the twelve months ended December 31, 2023. This increase in net loss is predominantly due to the goodwill impairment of Rhove during the twelve months ended December 31, 2024, and the one-time gain of $5,502,774 from the sale of myAlphie, a technology platform reAlpha previously developed and sold, that was recognized in the comparable 2023 period, which was not present in 2024. Loss from discontinued operations was approximately $18.3 million for the twelve months ended December 31, 2024, compared to $0.31 million for the comparable 2023 period, which is mainly due to Rhove’s goodwill impairment and intangibles being presented as discontinued operations. Net loss from continuing operations was $7.68 million for the twelve months ended December 31, 2024, compared to $2.14 million for the comparable 2023 period. The increase in net loss from continuing operations was primarily due to the one-time gain from the sale of myAlphie that was not present in 2024.

    Adjusted EBITDA was $(5,572,214) for the twelve months ended December 31, 2024, compared to $(7,387,223) for the twelve months ended December 31, 2023.

    About reAlpha Tech Corp.

    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit www.realpha.com.

    Investor Relations Contact:

    Adele Carey, VP of Investor Relations
    investorrelations@realpha.com

    Media Contact:

    Fatema Bhabrawala, Director of Public Relations
    fbhabrawala@allianceadvisors.com

    Forward-Looking Statements

    The information in this press release includes “forward-looking statements.” Any statements other than statements of historical fact contained herein, including statements as to planned acquisitions, business strategy and plans, objectives of management for future operations of reAlpha, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s ability to pay contractual obligations; reAlpha’s liquidity, operating performance, cash flow and ability to secure adequate financing; reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to commercialize its developing AI-based technologies; reAlpha’s ability to successfully enter new geographic markets; reAlpha’s ability to integrate the business of its acquired companies into its existing business and the anticipated demand for such acquired companies’ services; reAlpha’s ability to scale its operational capabilities to expand into additional geographic markets and nationally; the potential loss of key employees of reAlpha and of its subsidiaries; the outcome of certain outstanding legal proceedings against reAlpha; reAlpha’s ability to obtain, and maintain, the required licenses to operate in the U.S. states in which it, or its subsidiaries, operate in, or intend to operate in; reAlpha’s ability to successfully identify and acquire companies that are complementary to its business model; reAlpha’s ability to commercialize its developing AI-based technologies; the inability to maintain and strengthen reAlpha’s brand and reputation; any accidents or incidents involving cybersecurity breaches and incidents; the inability to accurately forecast demand for short-term rentals and AI-based real estate-focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; the inability of reAlpha to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against reAlpha; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

       
    reAlpha Tech Corp. and Subsidiaries  
    Consolidated Balance Sheet  
    December 31, 2024 and December 31, 2023  
       
        December 31,
    2024
        December 31,
    2023
     
    ASSETS            
                   
    Current Assets            
    Cash   $ 3,123,530     $ 6,456,370  
    Accounts receivable     182,425       30,630  
    Receivable from related parties     12,873        
    Prepaid expenses     180,158       242,795  
    Current assets of Discontinued operations     56,931       88,036  
    Other current assets     487,181       582,463  
    Total current assets   $ 4,043,098     $ 7,400,294  
                     
    Property and Equipment, at cost                
    Property and equipment, net   $ 102,638     $ 328,539  
                     
    Other Assets                
    Investments     215,000       115,000  
    Other long term assets     31,250       406,250  
    Intangible assets, net     3,285,406        
    Long term assets of discontinued operations           18,335,701  
    Goodwill     4,211,166        
    Capitalized software development – work in progress     105,900       839,085  
                     
    TOTAL ASSETS   $ 11,994,458     $ 27,424,869  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                
    Current Liabilities                
    Accounts payable   $ 655,765     $ 431,700  
    Related party payables     9,287        
    Short term loans – related parties – current portion     115,086        
    Short term loans – unrelated parties – current portion     666,053       190,095  
    Accrued expenses     1,164,813       799,624  
    Current liabilities of Discontinued operations           47,665  
    Deferred liabilities, current portion     1,534,433       593,750  
    Total current liabilities   $ 4,145,437     $ 2,062,834  
                     
    Long-Term Liabilities                
    Deferred liabilities, net of current portion           406,250  
    Mortgage and other long term loans – related parties – net of current portion     45,052        
    Mortgage and other long term loans – unrelated parties – net of current portion     241,121       247,000  
    Note payable, net of discount     4,909,376        
    Other long term liabilities     1,086,000        
    Total liabilities   $ 10,426,986     $ 2,716,084  
                     
    Stockholders’ Equity (Deficit)                
    Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023            
    Common stock ($0.001 par value; 200,000,000 shares authorized, 45,864,503 shares outstanding as of December 31, 2024; 200,000,000 shares authorized, 44,122,091 shares outstanding as of December 31, 2023)     45,865       44,123  
    Additional paid-in capital     39,770,060       36,899,497  
    Accumulated deficit     (38,260,913 )     (12,237,885 )
    Accumulated other comprehensive income     5,011        
    Total stockholders’ equity (deficit) of reAlpha Tech Corp.     1,560,023       24,705,735  
                     
    Non-controlling interests in consolidated entities     7,449       3,050  
    Total stockholders’ equity (deficit)     1,567,472       24,708,785  
                     
    TOTAL LIABILITIES AND STOCKOLDERS’ EQUITY   $ 11,994,458     $ 27,424,869  
    reAlpha Tech Corp. and Subsidiaries  
    Consolidated Statements of Operations and Comprehensive Loss  
    For the Year Ended December 31, 2024 and Eight Months Ended December 31, 2023 and Year Ended April 30, 2023  
       
        For the
    Year Ended
        For the
    Eight
    Months
    Ended
        For the
    Year Ended
     
        December 31,
    2024
        December 31,
    2023
        April 30,
    2023
     
                       
    Revenues   $ 948,420     $ 121,690     $ 419,412  
    Cost of revenues     302,084       94,665       293,204  
    Gross Profit     646,336       27,025       126,208  
                             
    Operating Expenses                        
    Wages, benefits and payroll taxes     2,841,591       710,737       1,114,403  
    Repairs & maintenance     3,216       51,436       24,794  
    Utilities     11,545       12,321       32,456  
    Travel     259,661       46,476        
    Dues & subscriptions     118,656       24,426       98,000  
    Marketing & advertising     793,004       193,612       2,002,884  
    Professional & legal fees     2,124,946       4,572,026       1,470,306  
    Depreciation & amortization     282,095       30,029       157,802  
    Impairment of intangible assets     202,968              
    Other operating expenses     911,268       418,697       159,166  
    Total operating expenses     7,548,950       6,059,760       5,059,811  
                             
    Operating Loss     (6,902,614 )     (6,032,735 )     (4,933,603 )
                             
    Other Income (Expense)                        
    Gain on sale of myAlphie           5,502,774        
    Interest expense, net     (333,759 )     (70,119 )     (169,776 )
    Other expense, net     (500,601 )     (144,764 )     (334,228 )
    Total other (expense) income     (834,360 )     5,287,891       (504,004 )
                             
    Net Loss from continuing operations before income taxes     (7,736,974 )     (744,844 )     (5,437,607 )
    Income tax (expense) benefit     54,260       (204,286 )      
                             
    Net Loss from continuing operations     (7,682,714 )     (949,130 )     (5,437,607 )
                             
    Discontinued operations (Roost and Rhove)                        
    Loss from operations of discontinued Operations     (261,242 )     (302,129 )     (14,776 )
    Loss on abandonment of discontinued Operations     (18,078,393 )            
    Income tax benefit                      
    Loss on discontinued operations   $ (18,339,635 )   $ (302,129 )   $ (14,776 )
                             
    Net Loss after income taxes   $ (26,022,349 )   $ (1,251,259 )   $ (5,452,383 )
                             
    Less: Net (Loss) Income Attributable to Non-Controlling Interests     679       464       726  
                             
    Net Loss Income Attributable to Controlling Interests   $ (26,023,028 )   $ (1,251,723 )   $ (5,453,109 )
                             
    Other comprehensive income                        
    Foreign currency translation adjustments     5,011              
    Total other comprehensive gain     5,011              
                             
    Comprehensive Loss Attributable to Controlling Interests   $ (26,018,017 )   $ (1,251,723 )   $ (5,453,109 )
                             
    Basic and diluted loss per share                        
    Continuing operations   $ (0.17 )   $ (0.02 )   $ (0.13 )
    Discontinued operations   $ (0.41 )   $ (0.01 )   $ (0.00 )
    Net Loss per share – basic and diluted   $ (0.58 )   $ (0.03 )   $ (0.13 )
                             
    Weighted-average outstanding shares – basic     44,631,577       42,688,666       40,439,190  
                             
    Weighted-average outstanding shares – diluted     44,631,577       42,688,666       40,439,190  
    Consolidated Statements of Cash Flows  
    For the Year Ended December 31, 2024 and Eight Months Ended December 31, 2023 and Year Ended April 30, 2023  
       
        For the
    Year Ended
        For the
    Eight
    Months
    Ended
        For the
    Year Ended
     
        December 31,
    2024
        December 31,
    2023
        April 30,
    2023
     
                       
    Cash Flows from Operating Activities:                  
    Net (Loss) income   $ (26,022,349 )   $ (1,251,259 )   $ (5,452,383 )
    Adjustments to reconcile net (loss) income to net cash used in operating activities:                        
    Depreciation and amortization     466,691       289,067       157,802  
    Stock based compensation – employees     207,453              
    Stock based compensation – services     108,730              
    Legal & professional expenses           3,045,290          
    Amortization of loan discounts and origination fees     181,875                  
    Write-off of capitalized software costs     145,746              
    Impairment of goodwill and Intangible assets     18,280,947              
    Commitment fee expenses     500,000              
    Loss on sale of properties     301       (85,077 )     (22,817 )
    Gain on previously held equity     (20,663 )            
    Gain on sale of myAlphie           (5,502,774 )      
    Changes in operating assets and liabilities:                        
    Accounts receivable     (16,437 )     37,490       65,696  
    Receivable from related parties     (12,873 )     20,874       (20,874 )
    Payable to related parties     (56,241 )            
    Prepaid expenses     62,637       (226,889 )     96,038  
    Other current assets     (19,773 )     (419,849 )     (81,689 )
    Accounts payable     58,756       48,928       235,433  
    Accrued expenses     (185,118 )     621,815       60,741  
    Deferred liabilities     278,080       593,750        
    Total adjustments     19,980,111       (1,577,375 )     490,330  
    Net cash used in operating activities     (6,042,238 )     (2,828,634 )     (4,962,053 )
                             
    Cash Flows from Investing Activities:                        
    Proceeds from sale of properties     293,307       731,343       1,539,997  
    Additions to property, plant & equipment     (12,533 )     (40,840 )     19,721  
    Cash paid to acquire business     (1,268,630 )     (50,000 )     (25,000 )
    Cash paid for equity method investment     (50,000 )            
    Cash used for additions to capitalized software development and intangibles     (516,544 )     (134,400 )     (452,451 )
    Net cash (used in) provided by investing activities     (1,554,400 )     506,103       1,082,267  
                             
    Cash Flows from Financing Activities:                        
    Proceeds from issuance of debt     6,155,539       190,095       247,000  
    Payments of debt     (1,164,241 )           (1,071,709 )
    Deferred financing costs     (727,500 )                
    Proceeds from issuance of common stock             7,331,938       4,282,274  
    Settling subscription issuance of common stock contributions                  
    Offering costs paid on issuance of common stock                 (416,312 )
    Net cash provided by financing activities     4,263,798       7,522,033       3,041,253  
                             
          Net Increase (decrease) in cash     (3,332,840 )     5,199,502       (838,533 )
                             
    Cash – Beginning of Period     6,456,370       1,256,868       2,095,401  
                             
    Cash – End of Period   $ 3,123,530     $ 6,456,370     $ 1,256,868  
                             
    Cash   $ 3,123,530     $ 6,456,370     $ 1,256,868  
    Restricted cash                  
    Total cash   $ 3,123,530     $ 6,456,370     $ 1,256,868  
                             
    Supplemental disclosure of cash flow information                        
    Interest expense   $ (58,897 )   $ (70,119 )   $ (169,776 )


    Explanatory Notes on Use of Non-GAAP Financial Measures

    To supplement reAlpha’s financial information presented in accordance with U.S. GAAP (“GAAP”), reAlpha believes “Adjusted EBITDA,” a “non-GAAP financial measure”, as such term is defined under the rules of the SEC, is useful in evaluating reAlpha’s operating performance. reAlpha uses Adjusted EBITDA to evaluate reAlpha’s ongoing operations and for internal planning and forecasting purposes. reAlpha believes that Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance. However, Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in reAlpha’s industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of reAlpha’s non-GAAP financial measures as tools for comparison. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate reAlpha’s business.

    We use Adjusted EBITDA, a non-GAAP financial measure, to evaluate our operating performance and facilitate comparisons across periods and with peer companies. We reconcile our Adjusted EBITDA to our net income (loss) adjusted to exclude interest expense, depreciation and amortization, share-based compensation, and other non-cash, non-operating, or non-recurring items that we believe are not indicative of our core business operations. We believe this measure provides useful insight into our ongoing performance; however, it should not be considered a substitute for, or superior to, net income or other financial information prepared in accordance with U.S. GAAP.

    The following table provides a reconciliation of net income to Adjusted EBITDA for the periods presented below:

        2024     2023  
    Net (Loss) Income   $ (26,022,349 )   $ (2,462,407 )
    Adjusted to exclude the following                
    Depreciation & amortization     282,095       346,171  
    Gain on sale of myAlphie           (5,502,774 )
    Interest Expense     333,759       128,268  
    Share-based Compensation (1)     316,183        
    GEM commitment fee (2)     500,000        
    Acquisition related expense (3)     517,251       103,519  
    Gain on previously held equity (4)     (20,663 )      
    Amortization of loan discounts and origination fees (5)     181,875        
    Loss from discontinued operations before tax (6)     18,339,635        
    Adjusted EBITDA   $ (5,572,214 )   $ (7,387,223 )
     
    (1) Reflects share-based compensation provided to non-executive officer employees and certain members of our board of directors for services rendered to us, which is recognized as a non-cash expense.
    (2) Reflects the commitment fee incurred in connection with the equity facility we have in place with GEM Global Yield LLC SCS and GEM Yield Bahamas Limited (collectively, “GEM”) pursuant to that certain Share Purchase Agreement, among reAlpha and GEM, dated December 1, 2022.
    (3) Reflects expenses related to acquisitions, including professional and legal fees, which are excluded to provide a clearer view of ongoing operational performance.
    (4) Reflects the gain from the fair value measurement of previously held equity interests, which is recognized as a non-operational item and treated as a non-GAAP measure.
    (5) Reflects the amortized original issue discount related to that certain secured promissory note, dated as of August 14, 2024.
    (6) Reflects the loss from the discontinuation of our rental business segment operations, which consists mainly of the goodwill impairment of Rhove operations.

    The MIL Network

  • MIL-OSI USA: Congressmen Morgan McGarvey, Luttrell Introduce Legislation to Increase Access to Service Dogs for Veterans

    Source: United States House of Representatives – Congressman Morgan McGarvey (Kentucky-03)

    April 02, 2025

    Today, Congressman Morgan McGarvey (KY-03), a member of the House Veterans’ Affairs Committee, joined Congressman Morgan Luttrell (TX-03) to introduce the Service Dogs Assisting Veterans Act. This legislation would increase access to service dogs for eligible veterans – including veterans who are blind, deaf, or are healing from traumatic brain injuries (TBI), military sexual trauma, paralysis, and Post-Traumatic Stress Disorder (PTSD) – by establishing a VA grant program to fund nonprofit organizations providing trained service dogs to eligible veterans at no cost. Over 40,000 veterans currently reside in Louisville.

    “As a member of the Veterans’ Affairs Committee and proud grandson of veterans, I know we need to do more to help our veterans address both the visible and invisible wounds of war. These brave men and women put on the uniform to defend our freedom and we have a moral obligation to support them,” said Congressman Morgan McGarvey. “I am proud to join Congressman Morgan Luttrell to introduce this critical, bipartisan legislation to ensure veterans have access to service dogs when they return home.”

    “Our veterans have sacrificed so much for our country, and we owe it to them to provide every possible resource to support their recovery and well-being. For many veterans, service dogs are not just companions, they are life-changing partners that provide independence, stability, and purpose,” said Congressman Morgan Luttrell. “The Service Dogs Assisting Veterans Act will ensure more veterans have access to highly trained service dogs, expanding support beyond PTSD to include those suffering from traumatic brain injuries, paralysis, military sexual trauma, and other service-related conditions. This is about giving our heroes the tools they need to thrive — not just survive —when they come home.”

    “Service dogs have a proven track record of providing lifesaving assistance to Veterans in critical need,” said Bill McCabe, Vice President of Government & External Affairs at K9s For Warriors. “The Service Dogs Assisting Veterans Act will ultimately put more service dogs in the hands of Veterans with visible and invisible disabilities, allowing them to regain their independence and reintegrate into civilian life. We applaud this bipartisan effort and urge Congress to pass this important legislation without delay.”

    “America’s VetDogs proudly supports the Service Dogs Assisting Veterans Act—a crucial step toward expanding access to accredited service dogs for veterans with physical disabilities, PTSD, traumatic brain injuries, hearing loss, blindness, and more. Serving America’s heroes in all 50 states and beyond, we are honored to provide custom-trained service dogs, free of charge, to U.S. veterans, helping them regain independence, restore confidence, and Live Without Boundaries. Through our work with veteran suicide prevention coalitions like Face the Fight and by training exceptional service dogs like Sully H.W. Bush—who served President George H.W. Bush and continues his mission at Walter Reed National Military Medical Center—we witness the life-changing impact of these dogs every day. We urge Congress to pass this vital legislation and ensure that more veterans receive the support they deserve,” said John Miller, president and CEO, America’s VetDogs and Guide Dog Foundation.

    It is estimated that upwards of 20% of Iraq and Afghanistan war veterans suffer from post-traumatic stress disorder, and more than 450,000 service members have been diagnosed with at least one traumatic brain injury over the past two decades. As a result, these veterans suffer from alarmingly high rates of depression, anxiety, joblessness, homelessness, and substance use disorders. Far too often, they resort to taking their own lives, with nearly 17 veterans dying by suicide each day. 

    Several veterans organizations have endorsed this legislation, including: American Veterans (AMVETS), Americas Warrior Partnership (AWP), American Kennel Club (AKC), American Humane, Americas VetDogs, Blinded Veterans Association (BVA), Chief Warrant Officers Association (CWOA), Disabled American Veterans (DAV), Dog Tag Buddies, Elizabeth Dole Foundation (EDF), Guardian Angels, HunterSeven Foundation, Iraq & Afghanistan Veterans of America (IAVA), Jewish War Veterans of America (JWV), K9s For Warriors, Lions Club International, National Military Families Association (NMFA), Non-Commissioned Officers Association (NCOA), Paralyzed Veterans of America (PVA), Pet Advocacy Network, Retrieving Freedom, Semper K9 Assistance Dogs, The American Legion (TAL), The Independence Fund (TIF), Tragedy Assistance Program for Survivors (TAPS), TREA: The Enlisted Association (TREA), Veterans of Foreign Wars (VFW), Vietnam Veterans of America (VVA), Warrior Canine Connection, Wounded Warrior Project (WWP).

    ###

    MIL OSI USA News

  • MIL-OSI USA: Luttrell Champions Service Dogs for Veterans with New Bill

    Source:

    WASHINGTON — Congressman Morgan Luttrell (R-TX), Chairman of Disability Assistance and Memorial Affairs (DAMA) Subcommittee on House Veterans’ Affairs Committee (HVAC), introduced the Service Dogs Assisting Veterans Act in the U.S. House of Representatives. This legislation would require the Secretary of Veterans Affairs to award grants to nonprofit organizations to assist with programs to provide service dogs to eligible veterans. This bill includes training for the service dog and extends the availability of this program to other veteran disabilities, such as blind, deaf, traumatic brain injuries (TBI), military sexual trauma, paralysis, and Post-Traumatic Stress Disorder (PTSD).
     
    It is estimated that upwards of 20% of Iraq and Afghanistan war veterans suffer from post-traumatic stress disorder, and more than 450,000 service members have been diagnosed with at least one traumatic brain injury over the past two decades. As a result, these veterans suffer from alarmingly high rates of depression, anxiety, joblessness, homelessness, and substance use disorders. Far too often, they resort to taking their own lives, with nearly 17 veterans dying by suicide each day. 
     
    “Our veterans have sacrificed so much for our country, and we owe it to them to provide every possible resource to support their recovery and well-being. For many veterans, service dogs are not just companions, they are life-changing partners that provide independence, stability, and purpose.  
     
    “The Service Dogs Assisting Veterans Act will ensure more veterans have access to highly trained service dogs, expanding support beyond PTSD to include those suffering from traumatic brain injuries, paralysis, military sexual trauma, and other service-related conditions. This is about giving our heroes the tools they need to thrive — not just survive —when they come home,” said Congressman Luttrell. 
     
    “Service dogs have a proven track record of providing lifesaving assistance to Veterans in critical need,” said Bill McCabe, Vice President of Government & External Affairs at K9s For Warriors. “The Service Dogs Assisting Veterans Act will ultimately put more service dogs in the hands of Veterans with visible and invisible disabilities, allowing them to regain their independence and reintegrate into civilian life. We applaud this bipartisan effort and urge Congress to pass this important legislation without delay.”
     
    “America’s VetDogs proudly supports the Service Dogs Assisting Veterans Act—a crucial step toward expanding access to accredited service dogs for veterans with physical disabilities, PTSD, traumatic brain injuries, hearing loss, blindness, and more. Serving America’s heroes in all 50 states and beyond, we are honored to provide custom-trained service dogs, free of charge, to U.S. veterans, helping them regain independence, restore confidence, and Live Without Boundaries. Through our work with veteran suicide prevention coalitions like Face the Fight and by training exceptional service dogs like Sully H.W. Bush—who served President George H.W. Bush and continues his mission at Walter Reed National Military Medical Center—we witness the life-changing impact of these dogs every day. We urge Congress to pass this vital legislation and ensure that more veterans receive the support they deserve,” said John Miller, president and CEO, America’s VetDogs and Guide Dog Foundation.
     
    Background:

    • Tens of thousands of service dogs help veterans with disabilities across the U.S.
    • Service dogs assist with conditions like blindness, mobility impairments, PTSD, and traumatic brain injury.
    • The bipartisan the Service Dogs Assisting Veterans Act establishes a VA grant program to fund nonprofit organizations providing trained service dogs to eligible veterans at no cost.
    • Nonprofits must meet requirements, including training standards and aftercare services, and be accredited by Assistance Dogs International (ADI) or a similar organization.
    • The program aims to support veterans with disabilities like PTSD, TBI, military sexual trauma, and more.

    This legislation is cosponsored by Representatives Morgan McGarvey (D-KY)(Co-Lead), Vern Buchanan (R-FL), Derrick Van Orden (R-WI), Juan Ciscomani (R-AZ), Eleanor Norton Holmes (D-DC), Claudia Tenney (R-NY), Don Davis (D-NC), David Valadao (R-CA), Greg Murphy (R-NC), Wesley Hunt (R-TX), Amata Coleman Radewagen (R-AS), John Rutherford (R-NE), Jason Crow (D-CO), Jen Kiggans (R-VA), Nancy Mace (R-SC), Mariannette Miller-Meeks (R-IA), Chris Deluzio (D-PA), Steve Cohen (D-TN), Michael Rulli (R-OH), Pete Stauber (R-MN), Craig Goldman (R-TX), August Pfluger (R-TX), Nick LaLota (R-NY).

    Several veterans organizations have endorsed this legislation, including: American Veterans (AMVETS), Americas Warrior Partnership (AWP), American Kennel Club (AKC), American Humane, Americas VetDogs, Blinded Veterans Association (BVA), Chief Warrant Officers Association (CWOA), Disabled American Veterans (DAV), Dog Tag Buddies, Elizabeth Dole Foundation (EDF), Guardian Angels, HunterSeven Foundation, Iraq & Afghanistan Veterans of America (IAVA), Jewish War Veterans of America (JWV), K9s For Warriors, Lions Club International, National Military Families Association (NMFA), Non-Commissioned Officers Association (NCOA), Paralyzed Veterans of America (PVA), Pet Advocacy Network, Retrieving Freedom, Semper K9 Assistance Dogs, The American Legion (TAL), The Independence Fund (TIF), Tragedy Assistance Program for Survivors (TAPS), TREA: The Enlisted Association (TREA), Veterans of Foreign Wars (VFW), Vietnam Veterans of America (VVA), Warrior Canine Connection, Wounded Warrior Project (WWP).

    MIL OSI USA News

  • MIL-OSI: Advanced Flower Capital Provides $14 Million Secured Credit Facility to Subsidiaries of Standard Wellness Holdings

    Source: GlobeNewswire (MIL-OSI)

    WEST PALM BEACH, Fla., April 02, 2025 (GLOBE NEWSWIRE) — Advanced Flower Capital Inc. (Nasdaq:AFCG) (“AFC”) today announced that it has committed to a $14 million senior secured credit facility to various subsidiaries of Standard Wellness Holdings (“Standard Wellness”), a privately held multi-state operator of cannabis cultivation, processing, and retail facilities. $10.5 million of the senior secured credit facility was funded at close. Standard Wellness intends to use the proceeds from the loan to acquire a dispensary in Missouri, relocate a dispensary in Utah, and refinance and consolidate various debt facilities.

    “Jared and the Standard Wellness team have proven to be astute capital allocators, and we are excited to support them as they continue to expand and optimize their business. As we continue to diversify our portfolio, Standard Wellness has many of the characteristics we are looking for in borrowers: a stable business in attractive limited license states, led by a battle-tested management team with a track-record of success,” said Daniel Neville, AFC’s Chief Executive Officer.

    “Having closed on several debt facilities in the cannabis space, our team was extremely impressed with AFC’s working knowledge of the complexities of our industry. Their focus on meeting a tight timeframe to close and efficient approach to due diligence validated our decision to work with them and allowed us to cost effectively simplify our capital structure.” stated Jared Maloof, CEO of Standard Wellness.

    AFC will hold the entire credit facility, which is secured by a first lien on all of Standard Wellness’s Utah operations and its dispensaries in St. Louis, MO and Cincinnati, OH, and a second lien on its Ohio cultivation facility. The collateral assets include owned real estate in Utah and Ohio and the value of those subsidiary’s cannabis licenses. AFC Agent LLC served as agent for this transaction.

    In connection with the transaction, Gramercy Capital Group, LLC (through INTE Securities LLC) served as financial advisor to Standard Wellness.

    About Advanced Flower Capital

    Advanced Flower Capital Inc. (Nasdaq:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state-law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures, underwrites and manages loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida. For additional information regarding the company, please visit https://advancedflowercapital.com/.

    About Standard Wellness

    Founded in 2017 in Ohio, Standard Wellness is a vertically integrated cannabis company operating across Ohio, Missouri, and Utah, with cultivation, processing, and dispensary licenses in Maryland. The company operates five retail locations under The Forest brand and has been a pioneer in the industry, including making the first-ever legal marijuana sale in Ohio through its dispensary The Forest Sandusky and the first ever delivery to a Utah pharmacy in February 2020.

    With approximately 350 employees, Standard Wellness is dedicated to improving quality of life by providing safe and legal access to cannabis for medical and adult use.

    About INTE Securities, LLC:

    INTE Securities LLC is a member of FINRA (www.finra.org) / SIPC (www.sipc.org). To view INTE Securities LLC, go to www.finra.org/brokercheck

    Forward-Looking Statements

    This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, market expansion and borrower activity and growth initiatives. All statements, other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements.

    Investor Relations Contact

    Advanced Flower Capital Inc.
    Robyn Tannenbaum
    561-510-2293
    ir@advancedflowercapital.com

    Media Contact

    Profile Advisors
    Rich Myers & Rachel Goun
    347-774-1125
    afc@profileadvisors.com

    The MIL Network

  • MIL-OSI Europe: Written question – Social Climate Fund (SCF) and limited liability housing companies in Finland – E-001228/2025

    Source: European Parliament

    Question for written answer  E-001228/2025
    to the Commission
    Rule 144
    Maria Ohisalo (Verts/ALE)

    A limited liability housing company[1] is a home ownership model in Finland. It is the most common way to own an apartment in Finland and does not exist elsewhere in the EU. More than one third of homes owned in Finland are apartments in these housing companies.

    The Emissions Trading System (ETS2) will cover and address the CO2 emissions from fuel combustion in buildings. In the spirit of the just transition, it is important that the most vulnerable households, including the homeowners in housing companies, receive support for changing from fossil fuel-based heating systems to more climate-friendly alternatives.

    The ETS2 specifies that Member States should determine the use of revenues from the auctioning of allowances to decarbonise the heating of buildings and to provide financial support for low-income households in the worst-performing buildings. The economic support is distributed via the SCF.

    As renovations are carried out by the limited liability housing company – not an individual – a question arises as to whether these companies qualify to receive economic support from the ETS2. This is a question of equal treatment of homeowners in Finland.

    Will the Commission ensure that Finnish limited liability housing companies are able to receive support from the SCF, thereby ensuring the equal treatment of homeowners, and what measures does it intend to take to do so?

    Submitted: 24.3.2025

    • [1] https://stat.fi/meta/kas/asunto_osakeyht_en.html.
    Last updated: 2 April 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Minutes – Tuesday, 1 April 2025 – Strasbourg – Final edition

    Source: European Parliament

    PV-10-2025-04-01

    EN

    EN

    iPlPv_Sit

    Minutes
    Tuesday, 1 April 2025 – Strasbourg

     Abbreviations and symbols

    + adopted
    rejected
    lapsed
    W withdrawn
    RCV roll-call votes
    EV electronic vote
    SEC secret ballot
    split split vote
    sep separate vote
    am amendment
    CA compromise amendment
    CP corresponding part
    D deleting amendment
    = identical amendments
    § paragraph

    IN THE CHAIR: Roberta METSOLA
    President

    1. Opening of the sitting

    The sitting opened at 09:01.


    2. Conclusions of the European Council meeting of 20 March 2025 (debate)

    European Council and Commission statements: Conclusions of the European Council meeting of 20 March 2025 (2024/2980(RSP))

    António Costa (President of the European Council) and Ursula von der Leyen (President of the Commission) made the statements.

    The following spoke: Manfred Weber, on behalf of the PPE Group, Iratxe García Pérez, on behalf of the S&D Group, Kinga Gál, on behalf of the PfE Group, Nicola Procaccini, on behalf of the ECR Group, Valérie Hayer, on behalf of the Renew Group, Terry Reintke, on behalf of the Verts/ALE Group, Manon Aubry, on behalf of The Left Group, Alexander Sell, on behalf of the ESN Group, Dolors Montserrat, Raphaël Glucksmann, Jean-Paul Garraud, Patryk Jaki, Billy Kelleher, Virginijus Sinkevičius, Pasquale Tridico, Zsuzsanna Borvendég, Ruth Firmenich, Siegfried Mureşan, Paolo Borchia, Nicolas Bay, Gerben-Jan Gerbrandy, Hannah Neumann, Li Andersson, Katarína Roth Neveďalová, Željana Zovko, Alex Agius Saliba, Anna Bryłka, Charlie Weimers, Hilde Vautmans, Reinier Van Lanschot, Paulo Cunha, who also answered a blue-card question from João Oliveira, Christel Schaldemose, Gilles Pennelle, Carlo Fidanza, Svenja Hahn, Tom Berendsen (the President spoke about Siegbert Frank Droese’s behaviour following Hannah Neumann’s speech), Javier Moreno Sánchez, Harald Vilimsky, Johan Van Overtveldt, Marie-Pierre Vedrenne, Reinhold Lopatka, Dan Nica, Emmanouil Fragkos, Ľubica Karvašová, Danuše Nerudová, Marta Temido, Anna Zalewska, Karlo Ressler, Elio Di Rupo, François-Xavier Bellamy, Aodhán Ó Ríordáin and Brando Benifei.

    The following spoke under the catch-the-eye procedure: Dariusz Joński, Vytenis Povilas Andriukaitis, Anna Maria Cisint, Sebastian Tynkkynen, João Oliveira, Siegbert Frank Droese, Lukas Sieper, Juan Fernando López Aguilar, Bruno Gonçalves and Seán Kelly.

    The following spoke: Maroš Šefčovič (Member of the Commission) and António Costa.

    The debate closed.


    3. Russia’s war crimes in Ukraine: standing with Ukraine and upholding justice (debate)

    Statement by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy: Russia’s war crimes in Ukraine: standing with Ukraine and upholding justice (2025/2635(RSP))

    The President said that there would be only one round of political group speakers and no catch-the-eye procedure or blue-card questions.

    Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy) made the statement.

    The following spoke: Sandra Kalniete, on behalf of the PPE Group, Thijs Reuten, on behalf of the S&D Group, Anders Vistisen, on behalf of the PfE Group, Michał Dworczyk, on behalf of the ECR Group, Petras Auštrevičius, on behalf of the Renew Group, Villy Søvndal, on behalf of the Verts/ALE Group, Martin Schirdewan, on behalf of The Left Group, and René Aust, on behalf of the ESN Group.

    The following spoke: Kaja Kallas.

    The debate closed.


    4. Amendment of the agenda

    In accordance with Rule 164(2), the President proposed the following amendment of the agenda, with the agreement of the political groups:

    Wednesday/Thursday

    The vote on ‘Energy-intensive industries’ (item 24 on the agenda) would be held over until voting time on Thursday.

    Parliament agreed to the proposal.

    The agenda was amended accordingly.

    (The sitting was suspended at 11:54.)


    IN THE CHAIR: Esteban GONZÁLEZ PONS
    Vice-President

    5. Resumption of the sitting

    The sitting resumed at 12:01.


    6. Voting time

    For detailed results of the votes, see also ‘Results of votes’ and ‘Results of roll-call votes’.


    6.1. Amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements ***I (vote)

    Amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements (COM(2025)0080 – C10-0038/2025 – 2025/0044(COD)) – JURI Committee

    REQUEST FOR AN URGENT DECISION by the PPE Group (Rule 170(6))

    Approved

    The following tabling deadlines had been set:

    – amendments: Wednesday 2 April 2025 at 13:00
    – requests for separate votes and split votes: Wednesday 2 April 2025 at 19:00.

    Vote: 3 April 2025.

    The following had spoken:

    Tomas Tobé, on behalf of the PPE Group (the author of the request), and Manon Aubry against.

    Detailed voting results


    6.2. Request for waiver of the immunity of Jana Nagyová (vote)

    Report on the request for the waiver of the immunity of Jana Nagyová [2024/2035(IMM)] – Committee on Legal Affairs. Rapporteur: Krzysztof Śmiszek (A10-0029/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)0040)

    Detailed voting results


    6.3. Request for waiver of the immunity of Petr Bystron (vote)

    Report on the request for waiver of the immunity of Petr Bystron [2024/2048(IMM)] – Committee on Legal Affairs. Rapporteur: Dominik Tarczyński (A10-0030/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)0041)

    Detailed voting results


    6.4. Request for waiver of the immunity of Maciej Wąsik (vote)

    Report on the request for the waiver of the immunity of Maciej Wąsik [2024/2043(IMM)] – Committee on Legal Affairs. Rapporteur: Mario Furore (A10-0031/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)0042)

    Detailed voting results


    6.5. Request for waiver of the immunity of Mariusz Kamiński (vote)

    Report on the request for the waiver of the immunity of Mariusz Kamiński [2024/2046(IMM)] – Committee on Legal Affairs. Rapporteur: Mario Furore (A10-0032/2025)

    (Majority of the votes cast)

    PROPOSAL FOR A DECISION

    Adopted (P10_TA(2025)0043)

    Detailed voting results


    6.6. Partial renewal of a member of the Court of Auditors – Lucian Romașcanu (vote)

    Report on the nomination of Lucian Romașcanu as a Member of the Court of Auditors [05958/2025 – C10-0010/2025 – 2025/0801(NLE)] – Committee on Budgetary Control. Rapporteur: Tomáš Zdechovský (A10-0039/2025)

    (Majority of the votes cast)
    (Secret ballot (Rule 133(3)))

    APPOINTMENT OF LUCIAN ROMAȘCANU

    Approved (P10_TA(2025)0044)

    The list of Members voting is annexed to these minutes (minutes of 1.4.2025 Annex 1)

    Detailed voting results


    6.7. Common data platform on chemicals, establishing a monitoring and outlook framework for chemicals ***I (vote)

    Report on the proposal for a regulation of the European Parliament and of the Council establishing a common data platform on chemicals, laying down rules to ensure that the data contained in it are findable, accessible, interoperable and reusable and establishing a monitoring and outlook framework for chemicals [COM(2023)0779 – C9-0449/2023 – 2023/0453(COD)] – Committee on the Environment, Climate and Food Safety. Rapporteur: Dimitris Tsiodras (A10-0018/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL and AMENDMENTS

    Approved by single vote (P10_TA(2025)0045)

    REQUEST FOR REFERRAL BACK TO COMMITTEE

    Approved

    The following had spoken:

    Dimitris Tsiodras (rapporteur), after the vote on the Commission’s proposal, to request that the matter be referred back to the committee responsible, for interinstitutional negotiations, in accordance with Rule 60(4).

    Detailed voting results


    6.8. Re-attribution of scientific and technical tasks to the European Chemicals Agency ***I (vote)

    Report on the proposal for a directive of the European Parliament and of the Council amending Directive 2011/65/EU of the European Parliament and of the Council as regards the re-attribution of scientific and technical tasks to the European Chemicals Agency [COM(2023)0781 – C9-0448/2023 – 2023/0454(COD)] – Committee on the Environment, Climate and Food Safety. Rapporteur: Dimitris Tsiodras (A10-0019/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL and AMENDMENTS

    Approved by single vote (P10_TA(2025)0046)

    REQUEST FOR REFERRAL BACK TO COMMITTEE

    Approved

    The following had spoken:

    Dimitris Tsiodras (rapporteur), after the vote on the Commission’s proposal, to request that the matter be referred back to the committee responsible, for interinstitutional negotiations, in accordance with Rule 60(4).

    Detailed voting results


    6.9. Re-attribution of scientific and technical tasks and improving cooperation among Union agencies in the area of chemicals ***I (vote)

    Report on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EC) No 178/2002, (EC) No 401/2009, (EU) 2017/745 and (EU) 2019/1021 of the European Parliament and of the Council as regards the re-attribution of scientific and technical tasks and improving cooperation among Union agencies in the area of chemicals [COM(2023)0783 – C9-0447/2023 – 2023/0455(COD)] – Committee on the Environment, Climate and Food Safety. Rapporteur: Dimitris Tsiodras (A10-0020/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL and AMENDMENTS

    Approved by single vote (P10_TA(2025)0047)

    REQUEST FOR REFERRAL BACK TO COMMITTEE

    Approved

    The following had spoken:

    Dimitris Tsiodras (rapporteur), after the vote on the Commission’s proposal, to request that the matter be referred back to the committee responsible, for interinstitutional negotiations, in accordance with Rule 60(4).

    Detailed voting results


    6.10. Macro-financial assistance to Jordan ***I (vote)

    Report on the proposal for a decision of the European Parliament and of the Council on providing macro-financial assistance to the Hashemite Kingdom of Jordan [COM(2024)0159 – C9-0146/2024 – 2024/0086(COD)] – Committee on International Trade. Rapporteur: Céline Imart (A10-0038/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL

    Approved (P10_TA(2025)0048)

    Parliament’s first reading thus closed.

    Detailed voting results

    10

    The following had spoken:

    Michael McGrath (Member of the Commission), before the vote, to make a statement.


    6.11. Macro-financial assistance to Egypt ***I (vote)

    Report on the proposal for a decision of the European Parliament and of the Council on providing macro-financial assistance to the Arab Republic of Egypt [COM(2024)0461 – C10-0009/2024 – 2024/0071(COD)] – Committee on International Trade. Rapporteur: Céline Imart (A10-0037/2025)

    (Majority of the votes cast)

    COMMISSION PROPOSAL and AMENDMENTS

    Approved (P10_TA(2025)0049)

    REQUEST FOR REFERRAL BACK TO COMMITTEE

    Approved

    Detailed voting results

    11

    Procedural motions:

    – Michael McGrath (Member of the Commission), before the vote, to make a statement.

    – Céline Imart (rapporteur), after the vote on the Commission’s proposal, to request that the matter be referred back to the committee responsible, for interinstitutional negotiations, in accordance with Rule 60(4).


    6.12. Customs duties on imports of certain products originating in the USA ***I (vote)

    Report on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) 2018/196 of the European Parliament and of the Council of 7 February 2018 on additional customs duties on imports of certain products originating in the United States of America [COM(2025)0027 – C10-0007/2025 – 2025/0012(COD)] – Committee on International Trade. Rapporteur: Bernd Lange (A10-0034/2025)

    (Majority of the votes cast)

    PROVISIONAL AGREEMENT

    Adopted (P10_TA(2025)0050)

    Parliament’s first reading thus closed.

    Detailed voting results

    12

    (The sitting was suspended at 12:27.)


    IN THE CHAIR: Sabine VERHEYEN
    Vice-President

    7. Resumption of the sitting

    The sitting resumed at 12:31.


    8. Approval of the minutes of the previous sitting

    The minutes of the previous sitting were approved.


    9. CFSP and CSDP (Article 36 TUE) (joint debate)

    Report on the implementation of the common foreign and security policy – 2024 annual report [2024/2080(INI)] – Committee on Foreign Affairs. Rapporteur: David McAllister (A10-0010/2025)
    Report on the implementation of the common security and defence policy – annual report 2024 [2024/2082(INI)] – Committee on Foreign Affairs. Rapporteur: Nicolás Pascual de la Parte (A10-0011/2025)

    David McAllister and Nicolás Pascual de la Parte introduced the reports.

    The following spoke: Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy).

    The following spoke: Michael Gahler, on behalf of the PPE Group, Sven Mikser, on behalf of the S&D Group, Kinga Gál, on behalf of the PfE Group, Adam Bielan, on behalf of the ECR Group, Urmas Paet, on behalf of the Renew Group, Marc Botenga, on behalf of The Left Group, Stanislav Stoyanov, on behalf of the ESN Group, Rasa Juknevičienė, Tobias Cremer, António Tânger Corrêa, Alberico Gambino, Bart Groothuis, Hannah Neumann, Özlem Demirel, Marcin Sypniewski, Monika Beňová, Łukasz Kohut, Yannis Maniatis, Pierre-Romain Thionnet, Rihards Kols, Hilde Vautmans, Jaume Asens Llodrà, Lynn Boylan, Hans Neuhoff, Francisco José Millán Mon, Nacho Sánchez Amor, Afroditi Latinopoulou, Nathalie Loiseau, Hanna Gedin, Salvatore De Meo, Hana Jalloul Muro, Claudiu-Richard Târziu, Petras Auštrevičius, Davor Ivo Stier, who also answered a blue-card question from Diana Iovanovici Şoşoacă, Tonino Picula, Lucia Yar, Vangelis Meimarakis, who also answered a blue-card question from Petras Gražulis, Thijs Reuten, Marta Wcisło, Riho Terras, Antonio López-Istúriz White, Mārtiņš Staķis, on behalf of the Verts/ALE Group, and Sebastian Tynkkynen.

    The following spoke under the catch-the-eye procedure: Tomislav Sokol, João Oliveira, Željana Zovko, Lukas Sieper and Michał Szczerba.

    The following spoke: Kaja Kallas, David McAllister and Nicolás Pascual de la Parte.

    The debate closed.

    Vote: 2 April 2025.


    10. Human rights and democracy in the world and the European Union’s policy on the matter – annual report 2024 (debate)

    Report on human rights and democracy in the world and the European Union’s policy on the matter – annual report 2024 [2024/2081(INI)] – Committee on Foreign Affairs. Rapporteur: Isabel Wiseler-Lima (A10-0012/2025)

    Isabel Wiseler-Lima introduced the report.

    The following spoke: Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy).

    The following spoke: Abir Al-Sahlani (rapporteur for the opinion of the FEMM Committee), Antonio López-Istúriz White, on behalf of the PPE Group, Francisco Assis, on behalf of the S&D Group, Christophe Bay, on behalf of the PfE Group, Arkadiusz Mularczyk, on behalf of the ECR Group, Barry Andrews, on behalf of the Renew Group, Catarina Vieira, on behalf of the Verts/ALE Group, Kathleen Funchion, on behalf of The Left Group, Petr Bystron, on behalf of the ESN Group, Reinhold Lopatka, Elisabeth Grossmann, Silvia Sardone, Sophie Wilmès, Mounir Satouri, Alvise Pérez, Liudas Mažylis, Marco Tarquinio, András László, who also answered a blue-card question from Catarina Vieira, Loucas Fourlas, Chloé Ridel, who also answered a blue-card question from João Oliveira, Hermann Tertsch, Emmanouil Kefalogiannis, Evin Incir and Alice Teodorescu Måwe.

    The following spoke under the catch-the-eye procedure: Sunčana Glavak, Juan Fernando López Aguilar, Lukas Sieper and Michał Wawrykiewicz.

    The following spoke: Kaja Kallas.

    IN THE CHAIR: Roberts ZĪLE
    Vice-President

    The following spoke: Isabel Wiseler-Lima.

    The debate closed.

    Vote: 2 April 2025.


    11. Presentation of the new European Internal Security Strategy(debate)

    Commission statement: Presentation of the new European Internal Security Strategy (2025/2608(RSP))

    Magnus Brunner (Member of the Commission) made the statement.

    The following spoke: Tomas Tobé, on behalf of the PPE Group, Birgit Sippel, on behalf of the S&D Group, Fabrice Leggeri, on behalf of the PfE Group, Assita Kanko, on behalf of the ECR Group, Malik Azmani, on behalf of the Renew Group, Saskia Bricmont, on behalf of the Verts/ALE Group, Giuseppe Antoci, on behalf of The Left Group, Mary Khan, on behalf of the ESN Group, Jeroen Lenaers, Thijs Reuten, Jorge Buxadé Villalba, Alessandro Ciriani, Moritz Körner, who also answered a blue-card question from Lukas Sieper, Lena Düpont, Juan Fernando López Aguilar, Petra Steger, Mariusz Kamiński, François-Xavier Bellamy, Marieke Ehlers, Charlie Weimers, Javier Zarzalejos, Joachim Stanisław Brudziński, who also declined to take a blue-card question from Dariusz Joński, Paulo Cunha, who also answered a blue-card question from João Oliveira, Elena Donazzan, Maciej Wąsik and Gheorghe Piperea.

    The following spoke under the catch-the-eye procedure: Dariusz Joński, José Cepeda, João Oliveira, Sunčana Glavak, Diana Iovanovici Şoşoacă, Ana Miguel Pedro and Lukas Sieper.

    The following spoke: Henna Virkkunen (Executive Vice-President of the Commission).

    The debate closed.


    12. EU Preparedness Union Strategy (debate)

    Commission statement: EU Preparedness Union Strategy (2025/2641(RSP))

    Hadja Lahbib (Member of the Commission) made the statement.

    The following spoke: Lena Düpont, on behalf of the PPE Group.

    IN THE CHAIR: Pina PICIERNO
    Vice-President

    The following spoke: Yannis Maniatis, on behalf of the S&D Group, Roberto Vannacci, on behalf of the PfE Group, Beata Szydło, on behalf of the ECR Group, Grégory Allione, on behalf of the Renew Group, Diana Riba i Giner, on behalf of the Verts/ALE Group, Ana Miranda Paz, on the language used by a Member during this debate (the President agreed), Merja Kyllönen, on behalf of The Left Group, Christine Anderson, on behalf of the ESN Group (the President reminded the House of the rules on conduct), Lukas Mandl, Christophe Clergeau, Christophe Bay, Elena Donazzan, Anna-Maja Henriksson, Ville Niinistö, Catarina Martins, Cecilia Strada, who referred to the speech of Roberto Vannacci (the President reiterated the need to respect the rules on conduct), Kostas Papadakis, who also answered a blue-card question from João Oliveira, Tomislav Sokol, Heléne Fritzon, Barbara Bonte, Adrian-George Axinia, who also declined to take a blue-card question from Alvise Pérez, Nathalie Loiseau, Lena Schilling, Luke Ming Flanagan, Massimiliano Salini, Annalisa Corrado, Juan Carlos Girauta Vidal, who also declined to take a blue-card question from Grégory Allione, Michał Dworczyk, Nicolás Pascual de la Parte, Leire Pajín, Matej Tonin, Tobias Cremer, Victor Negrescu and Vytenis Povilas Andriukaitis.

    The following spoke under the catch-the-eye procedure: Hélder Sousa Silva, Laura Ballarín Cereza, Ana Miranda Paz, Cecilia Strada, Juan Fernando López Aguilar, João Oliveira and Maria Zacharia.

    The following spoke: Hadja Lahbib.

    The debate closed.


    13. Improving the implementation of cohesion policy through the mid-term review to achieve a robust cohesion policy post 2027 (debate)

    Council and Commission statements: Improving the implementation of cohesion policy through the mid-term review to achieve a robust cohesion policy post 2027 (2025/2648(RSP))

    Adam Szłapka (President-in-Office of the Council) and Raffaele Fitto (Executive Vice-President of the Commission) made the statements.

    The following spoke: Andrey Novakov, on behalf of the PPE Group, Mohammed Chahim, on behalf of the S&D Group, Rody Tolassy, on behalf of the PfE Group, Denis Nesci, on behalf of the ECR Group, Ľubica Karvašová, on behalf of the Renew Group, Cristina Guarda, on behalf of the Verts/ALE Group, Elena Kountoura, on behalf of the The Left Group, Gabriella Gerzsenyi, Marcos Ros Sempere, Şerban Dimitrie Sturdza, Ciaran Mullooly, Gordan Bosanac, who also answered a blue-card question from Lukas Sieper.

    IN THE CHAIR: Esteban GONZÁLEZ PONS
    Vice-President

    The following spoke: Dan-Ştefan Motreanu, Victor Negrescu, Antonella Sberna, Raquel García Hermida-Van Der Walle, Christian Doleschal, Carla Tavares, who also answered a blue-card question from Ana Miranda Paz, Elsi Katainen, Elena Nevado del Campo, who also answered a blue-card question from Raquel García Hermida-Van Der Walle, Estelle Ceulemans, Joachim Streit, Jacek Protas and Hannes Heide.

    The following spoke under the catch-the-eye procedure: Nikolina Brnjac, Rosa Serrano Sierra, Ana Miranda Paz, Diana Iovanovici Şoşoacă, Francisco José Millán Mon, Juan Fernando López Aguilar, Paulo Do Nascimento Cabral and Maria Grapini.

    The following spoke: Raffaele Fitto and Adam Szłapka.

    The debate closed.


    14. Safeguarding the access to democratic media, such as Radio Free Europe/Radio Liberty (debate)

    Statement by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy: Safeguarding the access to democratic media, such as Radio Free Europe/Radio Liberty (2025/2630(RSP))

    Marta Kos (Member of the Commission) made the statement on behalf of the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy.

    The following spoke: Sebastião Bugalho, on behalf of the PPE Group, Nils Ušakovs, on behalf of the S&D Group, António Tânger Corrêa, on behalf of the PfE Group, Małgorzata Gosiewska, on behalf of the ECR Group, Irena Joveva, on behalf of the Renew Group, Virginijus Sinkevičius, on behalf of the Verts/ALE Group, Milan Uhrík, on behalf of the ESN Group, Andrey Kovatchev, Francisco Assis, Hermann Tertsch, Alexandr Vondra, Dan Barna, Mary Khan, who also answered a blue-card question from Tomáš Zdechovský, Erik Kaliňák, who also answered a blue-card question from Veronika Cifrová Ostrihoňová, Ondřej Kolář, Robert Biedroń, Virginie Joron, Rihards Kols, Veronika Cifrová Ostrihoňová, Petar Volgin, Fidias Panayiotou, Rasa Juknevičienė, Hannes Heide, Csaba Dömötör, who also answered a blue-card question from Gabriella Gerzsenyi, Claudiu-Richard Târziu, Laurence Farreng, Elena Yoncheva, Isabel Wiseler-Lima, Evin Incir, who also answered a blue-card question from Fidias Panayiotou, and Julien Sanchez.

    IN THE CHAIR: Antonella SBERNA
    Vice-President

    The following spoke: Helmut Brandstätter, Mika Aaltola, Michał Kobosko, Alice Teodorescu Måwe and Tomáš Zdechovský.

    The following spoke under the catch-the-eye procedure: Radan Kanev, Juan Fernando López Aguilar, Diana Iovanovici Şoşoacă and Gabriella Gerzsenyi.

    The following spoke: Marta Kos.

    The debate closed.


    15. Crackdown on democracy in Türkiye and the arrest of Ekrem İmamoğlu (debate)

    Statement by the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy: Crackdown on democracy in Türkiye and the arrest of Ekrem İmamoğlu (2025/2642(RSP))

    Marta Kos (Member of the Commission) made the statement on behalf of the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy.

    The following spoke: Emmanouil Kefalogiannis, on behalf of the PPE Group, Nacho Sánchez Amor, on behalf of the S&D Group, Susanna Ceccardi, on behalf of the PfE Group, Assita Kanko, on behalf of the ECR Group, Malik Azmani, on behalf of the Renew Group, Vladimir Prebilič, on behalf of the Verts/ALE Group, Giorgos Georgiou, on behalf of The Left Group, Michalis Hadjipantela, Kathleen Van Brempt, Mathilde Androuët, Bernard Guetta, Mélissa Camara, Özlem Demirel, Reinhold Lopatka, Joanna Scheuring-Wielgus, Željana Zovko, Nikos Papandreou, Elissavet Vozemberg-Vrionidi and Dario Nardella.

    The following spoke under the catch-the-eye procedure: Sebastian Tynkkynen, Ana Miranda Paz, Hanna Gedin, Maria Zacharia, Lefteris Nikolaou-Alavanos, Lukas Sieper and Fidias Panayiotou.

    The following spoke: Marta Kos.

    The debate closed.


    16. Dramatic situation in Gaza and the need for an immediate return to the full implementation of the ceasefire and hostage release agreement (debate)

    Statement by the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy: Dramatic situation in Gaza and the need for an immediate return to the full implementation of the ceasefire and hostage release agreement (2025/2644(RSP))

    Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy) made the statement.

    The following spoke: Hildegard Bentele, on behalf of the PPE Group, Evin Incir, on behalf of the S&D Group, Fabrice Leggeri, on behalf of the PfE Group, Bert-Jan Ruissen, on behalf of the ECR Group, Hilde Vautmans, on behalf of the Renew Group, Villy Søvndal, on behalf of the Verts/ALE Group, Irene Montero, on behalf of The Left Group, Alice Teodorescu Måwe, Sebastiaan Stöteler, Hana Jalloul Muro, Barry Andrews, Ana Miranda Paz, Giorgos Georgiou, Ondřej Kolář, who also answered a blue-card question from Rima Hassan, and Matjaž Nemec.

    IN THE CHAIR: Ewa KOPACZ
    Vice-President

    The following spoke: Tomáš Kubín, Leoluca Orlando, Danilo Della Valle, Céline Imart, who also answered a blue-card question from Benedetta Scuderi, Marta Temido, Saskia Bricmont, Estrella Galán, Aodhán Ó Ríordáin, Mimmo Lucano, and Marit Maij and Benedetta Scuderi, on the language sometimes used during this debate (the President took note).

    The following spoke under the catch-the-eye procedure: Davor Ivo Stier, Daniel Attard, Sebastian Tynkkynen, Vladimir Prebilič and Marc Botenga.

    The following spoke: Kaja Kallas.

    The debate closed.


    17. Targeted attacks against Christians in the Democratic Republic of the Congo – defending religious freedom and security (debate)

    Council and Commission statements: Targeted attacks against Christians in the Democratic Republic of the Congo – defending religious freedom and security (2025/2612(RSP))

    Kaja Kallas (Vice President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy) made the statement.

    The following spoke: Lukas Mandl, on behalf of the PPE Group, Marit Maij, on behalf of the S&D Group, Thierry Mariani, on behalf of the PfE Group, Patryk Jaki, on behalf of the ECR Group, Hilde Vautmans, on behalf of the Renew Group, Mounir Satouri, on behalf of the Verts/ALE Group, Marc Botenga, on behalf of The Left Group, Tomasz Froelich, on behalf of the ESN Group, Wouter Beke, Francisco Assis, György Hölvényi, Alexander Sell, Nikolaos Anadiotis, Reinhold Lopatka, Anja Arndt, Ingeborg Ter Laak and Davor Ivo Stier.

    The following spoke under the catch-the-eye procedure: Margarita de la Pisa Carrión, Joachim Stanisław Brudziński, Saskia Bricmont, Bert-Jan Ruissen and Sebastian Tynkkynen.

    The following spoke: Kaja Kallas.

    Motions for resolutions tabled under Rule 136(2) to wind up the debate: minutes of 3.4.2025, item I.

    The debate closed.

    Vote: 3 April 2025.


    18. Explanations of vote


    18.1. Written explanations of vote

    Explanations of vote submitted in writing under Rule 201 appear on the Members’ pages on Parliament’s website.


    19. Agenda of the next sitting

    The next sitting would be held the following day, 2 April 2025, starting at 09:00. The agenda was available on Parliament’s website.


    20. Approval of the minutes of the sitting

    In accordance with Rule 208(3), the minutes of the sitting would be put to the House for approval at the beginning of the afternoon of the next sitting.


    21. Closure of the sitting

    The sitting closed at 22:07.


    LIST OF DOCUMENTS SERVING AS A BASIS FOR THE DEBATES AND DECISIONS OF PARLIAMENT


    I. Documents received

    The following documents had been received from committees:

    – Report on Parliament’s estimates of revenue and expenditure for the financial year 2026 (2024/2111(BUI)) – BUDG Committee – Rapporteur: Matjaž Nemec (A10-0048/2025)


    ATTENDANCE REGISTER

    Present:

    Aaltola Mika, Abadía Jover Maravillas, Adamowicz Magdalena, Aftias Georgios, Agirregoitia Martínez Oihane, Agius Peter, Agius Saliba Alex, Alexandraki Galato, Allione Grégory, Al-Sahlani Abir, Anadiotis Nikolaos, Anderson Christine, Andersson Li, Andresen Rasmus, Andrews Barry, Andriukaitis Vytenis Povilas, Androuët Mathilde, Angel Marc, Annemans Gerolf, Annunziata Lucia, Antoci Giuseppe, Arias Echeverría Pablo, Arimont Pascal, Arłukowicz Bartosz, Arnaoutoglou Sakis, Arndt Anja, Arvanitis Konstantinos, Asens Llodrà Jaume, Assis Francisco, Attard Daniel, Aubry Manon, Auštrevičius Petras, Axinia Adrian-George, Azmani Malik, Bajada Thomas, Baljeu Jeannette, Ballarín Cereza Laura, Barley Katarina, Barna Dan, Barrena Arza Pernando, Bartulica Stephen Nikola, Bartůšek Nikola, Bausemer Arno, Bay Nicolas, Bay Christophe, Beke Wouter, Beleris Fredis, Bellamy François-Xavier, Benifei Brando, Benjumea Benjumea Isabel, Beňová Monika, Bentele Hildegard, Berendsen Tom, Berger Stefan, Berlato Sergio, Bernhuber Alexander, Biedroń Robert, Bielan Adam, Bischoff Gabriele, Blaha Ľuboš, Blinkevičiūtė Vilija, Blom Rachel, Bloss Michael, Bocheński Tobiasz, Boeselager Damian, Bogdan Ioan-Rareş, Bonaccini Stefano, Bonte Barbara, Borchia Paolo, Borrás Pabón Mireia, Borvendég Zsuzsanna, Borzan Biljana, Bosanac Gordan, Boßdorf Irmhild, Bosse Stine, Botenga Marc, Boyer Gilles, Boylan Lynn, Brandstätter Helmut, Brasier-Clain Marie-Luce, Braun Grzegorz, Brejza Krzysztof, Bricmont Saskia, Brnjac Nikolina, Brudziński Joachim Stanisław, Bryłka Anna, Buchheit Markus, Buczek Tomasz, Buda Daniel, Buda Waldemar, Budka Borys, Bugalho Sebastião, Buła Andrzej, Bullmann Udo, Burkhardt Delara, Buxadé Villalba Jorge, Bystron Petr, Bžoch Jaroslav, Camara Mélissa, Canfin Pascal, Carberry Nina, Cârciu Gheorghe, Carême Damien, Casa David, Caspary Daniel, Castillo Laurent, del Castillo Vera Pilar, Cavazzini Anna, Cavedagna Stefano, Ceccardi Susanna, Cepeda José, Ceulemans Estelle, Chahim Mohammed, Chaibi Leila, Chastel Olivier, Chinnici Caterina, Christensen Asger, Ciccioli Carlo, Cifrová Ostrihoňová Veronika, Ciriani Alessandro, Cisint Anna Maria, Clausen Per, Clergeau Christophe, Cormand David, Corrado Annalisa, Costanzo Vivien, Cotrim De Figueiredo João, Cowen Barry, Cremer Tobias, Crespo Díaz Carmen, Cristea Andi, Crosetto Giovanni, Cunha Paulo, Dahl Henrik, Danielsson Johan, Dauchy Marie, Dávid Dóra, David Ivan, Decaro Antonio, de la Hoz Quintano Raúl, Della Valle Danilo, Deloge Valérie, De Masi Fabio, De Meo Salvatore, Demirel Özlem, Deutsch Tamás, Devaux Valérie, Dibrani Adnan, Diepeveen Ton, Dieringer Elisabeth, Dîncu Vasile, Di Rupo Elio, Disdier Mélanie, Dobrev Klára, Doherty Regina, Doleschal Christian, Dömötör Csaba, Do Nascimento Cabral Paulo, Dorfmann Herbert, Dostalova Klara, Dostál Ondřej, Droese Siegbert Frank, Düpont Lena, Dworczyk Michał, Ecke Matthias, Ehler Christian, Ehlers Marieke, Eriksson Sofie, Erixon Dick, Eroglu Engin, Estaràs Ferragut Rosa, Everding Sebastian, Ezcurra Almansa Alma, Falcă Gheorghe, Falcone Marco, Farantouris Nikolas, Farreng Laurence, Farský Jan, Ferber Markus, Ferenc Viktória, Fernández Jonás, Fidanza Carlo, Fiocchi Pietro, Firea Gabriela, Firmenich Ruth, Fita Claire, Flanagan Luke Ming, Fourlas Loucas, Fourreau Emma, Fragkos Emmanouil, Freund Daniel, Frigout Anne-Sophie, Friis Sigrid, Fritzon Heléne, Froelich Tomasz, Fuglsang Niels, Funchion Kathleen, Furet Angéline, Furore Mario, Gahler Michael, Gál Kinga, Galán Estrella, Gálvez Lina, Gambino Alberico, García Hermida-Van Der Walle Raquel, Garraud Jean-Paul, Gasiuk-Pihowicz Kamila, Geadi Geadis, Gedin Hanna, Geese Alexandra, Geier Jens, Geisel Thomas, Gemma Chiara, Georgiou Giorgos, Gerbrandy Gerben-Jan, Germain Jean-Marc, Gerzsenyi Gabriella, Geuking Niels, Gieseke Jens, Giménez Larraz Borja, Girauta Vidal Juan Carlos, Glavak Sunčana, Glück Andreas, Glucksmann Raphaël, Goerens Charles, Gomes Isilda, Gómez López Sandra, Gonçalves Bruno, Gonçalves Sérgio, González Casares Nicolás, González Pons Esteban, Gori Giorgio, Gosiewska Małgorzata, Gotink Dirk, Gozi Sandro, Grapini Maria, Gražulis Petras, Gregorová Markéta, Griset Catherine, Gronkiewicz-Waltz Hanna, Groothuis Bart, Grossmann Elisabeth, Grudler Christophe, Gualmini Elisabetta, Guarda Cristina, Guetta Bernard, Guzenina Maria, Győri Enikő, Gyürk András, Hadjipantela Michalis, Hahn Svenja, Haider Roman, Halicki Andrzej, Hansen Niels Flemming, Hassan Rima, Hauser Gerald, Häusling Martin, Hava Mircea-Gheorghe, Heide Hannes, Heinäluoma Eero, Henriksson Anna-Maja, Herbst Niclas, Herranz García Esther, Hetman Krzysztof, Hohlmeier Monika, Hojsík Martin, Holmgren Pär, Hölvényi György, Homs Ginel Alicia, Humberto Sérgio, Ijabs Ivars, Imart Céline, Incir Evin, Inselvini Paolo, Iovanovici Şoşoacă Diana, Jalloul Muro Hana, Jamet France, Jarubas Adam, Jerković Romana, Jongen Marc, Joński Dariusz, Joron Virginie, Jouvet Pierre, Joveva Irena, Juknevičienė Rasa, Junco García Nora, Jungbluth Alexander, Kalfon François, Kaliňák Erik, Kaljurand Marina, Kalniete Sandra, Kamiński Mariusz, Kanev Radan, Kanko Assita, Karlsbro Karin, Kartheiser Fernand, Karvašová Ľubica, Katainen Elsi, Kefalogiannis Emmanouil, Kelleher Billy, Keller Fabienne, Kelly Seán, Kemp Martine, Kennes Rudi, Khan Mary, Kircher Sophia, Knafo Sarah, Knotek Ondřej, Kobosko Michał, Kohut Łukasz, Kolář Ondřej, Kollár Kinga, Kols Rihards, Konečná Kateřina, Kopacz Ewa, Körner Moritz, Kountoura Elena, Kovařík Ondřej, Kovatchev Andrey, Krištopans Vilis, Kruis Sebastian, Krutílek Ondřej, Kubín Tomáš, Kuhnke Alice, Kulja András Tivadar, Kulmuni Katri, Kyllönen Merja, Kyuchyuk Ilhan, Lakos Eszter, Lalucq Aurore, Lange Bernd, Langensiepen Katrin, Laššáková Judita, László András, Latinopoulou Afroditi, Laurent Murielle, Laureti Camilla, Laykova Rada, Lazarov Ilia, Lazarus Luis-Vicențiu, Leggeri Fabrice, Lenaers Jeroen, Leonardelli Julien, Lewandowski Janusz, Lexmann Miriam, Liese Peter, Lins Norbert, Loiseau Nathalie, Løkkegaard Morten, Lopatka Reinhold, López Javi, López Aguilar Juan Fernando, López-Istúriz White Antonio, Lövin Isabella, Lucano Mimmo, Luena César, Łukacijewska Elżbieta Katarzyna, Lupo Giuseppe, McAllister David, Madison Jaak, Maestre Cristina, Magoni Lara, Maij Marit, Maląg Marlena, Manda Claudiu, Mandl Lukas, Maniatis Yannis, Mantovani Mario, Maran Pierfrancesco, Marczułajtis-Walczak Jagna, Maréchal Marion, Mariani Thierry, Marino Ignazio Roberto, Martins Catarina, Marzà Ibáñez Vicent, Mato Gabriel, Matthieu Sara, Mavrides Costas, Maydell Eva, Mayer Georg, Mazurek Milan, Mažylis Liudas, McNamara Michael, Mebarek Nora, Mehnert Alexandra, Meimarakis Vangelis, Mendes Ana Catarina, Mendia Idoia, Mertens Verena, Mesure Marina, Metsola Roberta, Metz Tilly, Mikser Sven, Milazzo Giuseppe, Minchev Nikola, Miranda Paz Ana, Molnár Csaba, Montero Irene, Montserrat Dolors, Morace Carolina, Morano Nadine, Moreira de Sá Tiago, Moreno Sánchez Javier, Moretti Alessandra, Motreanu Dan-Ştefan, Mularczyk Arkadiusz, Müller Piotr, Mullooly Ciaran, Mureşan Siegfried, Muşoiu Ştefan, Nagyová Jana, Nardella Dario, Navarrete Rojas Fernando, Negrescu Victor, Nemec Matjaž, Nerudová Danuše, Nesci Denis, Neuhoff Hans, Neumann Hannah, Nevado del Campo Elena, Nica Dan, Niebler Angelika, Niedermayer Luděk, Niinistö Ville, Nikolaou-Alavanos Lefteris, Ní Mhurchú Cynthia, Noichl Maria, Nordqvist Rasmus, Novakov Andrey, Nykiel Mirosława, Obajtek Daniel, Ódor Ľudovít, Oetjen Jan-Christoph, Ohisalo Maria, Oliveira João, Omarjee Younous, Ó Ríordáin Aodhán, Orlando Leoluca, Ozdoba Jacek, Paet Urmas, Pajín Leire, Palmisano Valentina, Panayiotou Fidias, Papadakis Kostas, Papandreou Nikos, Pappas Nikos, Pascual de la Parte Nicolás, Paulus Jutta, Pedro Ana Miguel, Pedulla’ Gaetano, Pellerin-Carlin Thomas, Peltier Guillaume, Penkova Tsvetelina, Pennelle Gilles, Pérez Alvise, Peter-Hansen Kira Marie, Petrov Hristo, Picaro Michele, Picierno Pina, Picula Tonino, Piera Pascale, Pietikäinen Sirpa, Pimpie Pierre, Piperea Gheorghe, de la Pisa Carrión Margarita, Pokorná Jermanová Jaroslava, Polato Daniele, Polfjärd Jessica, Popescu Virgil-Daniel, Pozņaks Reinis, Prebilič Vladimir, Princi Giusi, Protas Jacek, Pürner Friedrich, Rackete Carola, Radev Emil, Radtke Dennis, Rafowicz Emma, Ratas Jüri, Razza Ruggero, Rechagneux Julie, Regner Evelyn, Repasi René, Repp Sabrina, Ressler Karlo, Reuten Thijs, Riba i Giner Diana, Ricci Matteo, Ridel Chloé, Riehl Nela, Ripa Manuela, Rodrigues André, Ros Sempere Marcos, Roth Neveďalová Katarína, Rougé André, Ruissen Bert-Jan, Ruotolo Sandro, Rzońca Bogdan, Saeidi Arash, Salini Massimiliano, Salis Ilaria, Salla Aura, Sánchez Amor Nacho, Sanchez Julien, Sancho Murillo Elena, Saramo Jussi, Sardone Silvia, Šarec Marjan, Sargiacomo Eric, Satouri Mounir, Saudargas Paulius, Sbai Majdouline, Sberna Antonella, Schaldemose Christel, Schaller-Baross Ernő, Schenk Oliver, Scheuring-Wielgus Joanna, Schieder Andreas, Schilling Lena, Schneider Christine, Schwab Andreas, Scuderi Benedetta, Seekatz Ralf, Sell Alexander, Serrano Sierra Rosa, Serra Sánchez Isabel, Sidl Günther, Sienkiewicz Bartłomiej, Sieper Lukas, Simon Sven, Singer Christine, Sinkevičius Virginijus, Sippel Birgit, Sjöstedt Jonas, Śmiszek Krzysztof, Smith Anthony, Smit Sander, Sokol Tomislav, Solier Diego, Solís Pérez Susana, Sommen Liesbet, Sonneborn Martin, Sorel Malika, Sousa Silva Hélder, Søvndal Villy, Squarta Marco, Staķis Mārtiņš, Stancanelli Raffaele, Ştefănuță Nicolae, Steger Petra, Stier Davor Ivo, Storm Kristoffer, Stöteler Sebastiaan, Stoyanov Stanislav, Strack-Zimmermann Marie-Agnes, Strada Cecilia, Streit Joachim, Strik Tineke, Strolenberg Anna, Sturdza Şerban Dimitrie, Stürgkh Anna, Sypniewski Marcin, Szczerba Michał, Szekeres Pál, Szydło Beata, Tamburrano Dario, Tânger Corrêa António, Tarczyński Dominik, Tarquinio Marco, Tarr Zoltán, Târziu Claudiu-Richard, Tavares Carla, Tegethoff Kai, Temido Marta, Teodorescu Georgiana, Teodorescu Måwe Alice, Terheş Cristian, Ter Laak Ingeborg, Terras Riho, Tertsch Hermann, Thionnet Pierre-Romain, Timgren Beatrice, Tinagli Irene, Tobback Bruno, Tobé Tomas, Tolassy Rody, Tomac Eugen, Tomašič Zala, Tomaszewski Waldemar, Tomc Romana, Tonin Matej, Toom Jana, Topo Raffaele, Torselli Francesco, Tosi Flavio, Toussaint Marie, Tovaglieri Isabella, Toveri Pekka, Tridico Pasquale, Trochu Laurence, Tsiodras Dimitris, Turek Filip, Tynkkynen Sebastian, Uhrík Milan, Ušakovs Nils, Vaidere Inese, Valchev Ivaylo, Vălean Adina, Valet Matthieu, Van Brempt Kathleen, Van Brug Anouk, van den Berg Brigitte, Vandendriessche Tom, Van Dijck Kris, Van Lanschot Reinier, Van Leeuwen Jessika, Vannacci Roberto, Van Overtveldt Johan, Van Sparrentak Kim, Varaut Alexandre, Vasconcelos Ana, Vasile-Voiculescu Vlad, Vautmans Hilde, Vedrenne Marie-Pierre, Verheyen Sabine, Verougstraete Yvan, Veryga Aurelijus, Vešligaj Marko, Vicsek Annamária, Vieira Catarina, Vigenin Kristian, Vilimsky Harald, Vincze Loránt, Vind Marianne, Vistisen Anders, Vivaldini Mariateresa, Volgin Petar, von der Schulenburg Michael, Vondra Alexandr, Voss Axel, Vozemberg-Vrionidi Elissavet, Vrecionová Veronika, Vázquez Lázara Adrián, Waitz Thomas, Walsh Maria, Walsmann Marion, Warborn Jörgen, Warnke Jan-Peter, Wąsik Maciej, Wawrykiewicz Michał, Wcisło Marta, Wechsler Andrea, Weimers Charlie, Werbrouck Séverine, Wiesner Emma, Wiezik Michal, Wilmès Sophie, Winkler Iuliu, Winzig Angelika, Wiseler-Lima Isabel, Wiśniewska Jadwiga, Wölken Tiemo, Wolters Lara, Yar Lucia, Yon-Courtin Stéphanie, Yoncheva Elena, Zacharia Maria, Zalewska Anna, Žalimas Dainius, Zarzalejos Javier, Zdechovský Tomáš, Zdrojewski Bogdan Andrzej, Zijlstra Auke, Zīle Roberts, Zingaretti Nicola, Złotowski Kosma, Zoido Álvarez Juan Ignacio, Zovko Željana, Zver Milan


    ANNEX 1 – Partial renewal of a member of the Court of Auditors – Lucian Romașcanu

    MEMBERS VOTING IN THE SECRET BALLOT

    ECR:
    Alexandraki, Axinia, Bartulica, Bay Nicolas, Berlato, Bielan, Bocheński, Brudziński, Buda Waldemar, Cavedagna, Ciccioli, Ciriani, Crosetto, Donazzan, Dworczyk, Erixon, Fidanza, Fiocchi, Fragkos, Gambino, Geadi, Gemma, Gosiewska, Inselvini, Jaki, Junco García, Kamiński, Kartheiser, Kols, Krutílek, Madison, Magoni, Maląg, Mantovani, Maréchal, Milazzo, Mularczyk, Müller, Nesci, Ozdoba, Peltier, Picaro, Piperea, Polato, Pozņaks, Procaccini, Razza, Ruissen, Rzońca, Sberna, Solier, Squarta, Storm, Sturdza, Szydło, Tarczyński, Târziu, Teodorescu, Terheş, Timgren, Tomaszewski, Torselli, Trochu, Tynkkynen, Valchev, Van Dijck, Van Overtveldt, Veryga, Vivaldini, Vondra, Vrecionová, Wąsik, Weimers, Wiśniewska, Zalewska, Zīle, Złotowski

    ESN:
    Anderson, Arndt, Aust, Bausemer, Borvendég, Boßdorf, Buchheit, David, Droese, Froelich, Gražulis, Jongen, Jungbluth, Khan, Knafo, Laykova, Mazurek, Neuhoff, Sell, Stoyanov, Sypniewski, Tyszka, Uhrík, Volgin

    NI:
    Anadiotis, Beňová, Blaha, Braun, De Masi, Dostál, Firmenich, Geisel, Iovanovici Şoşoacă, Kaliňák, Konečná, Laššáková, Lazarus, Nikolaou-Alavanos, Panayiotou, Papadakis, Pérez, Pürner, Roth Neveďalová, Sonneborn, von der Schulenburg, Warnke, Yoncheva, Zacharia

    PPE:
    Aaltola, Abadía Jover, Adamowicz, Aftias, Agius, Arias Echeverría, Arimont, Arłukowicz, Beke, Beleris, Bellamy, Benjumea Benjumea, Bentele, Berendsen, Berger, Bernhuber, Bogdan, Brejza, Brnjac, Buda Daniel, Budka, Bugalho, Buła, Carberry, Casa, Caspary, Castillo, Chinnici, Crespo Díaz, Cunha, Dahl, Dávid, de la Hoz Quintano, De Meo, Doherty, Doleschal, Do Nascimento Cabral, Düpont, Ehler, Estaràs Ferragut, Ezcurra Almansa, Falcă, Falcone, Farský, Ferber, Fourlas, Gahler, Gasiuk-Pihowicz, Gerzsenyi, Geuking, Gieseke, Giménez Larraz, Glavak, González Pons, Gotink, Gronkiewicz-Waltz, Hadjipantela, Halicki, Hansen, Hava, Herbst, Herranz García, Hetman, Hohlmeier, Humberto, Imart, Jarubas, Joński, Juknevičienė, Kanev, Kemp, Kircher, Kohut, Kolář, Kollár, Kopacz, Kovatchev, Kulja, Lakos, Lazarov, Lenaers, Lexmann, Liese, Lins, Lopatka, López-Istúriz White, Łukacijewska, McAllister, Mandl, Marczułajtis-Walczak, Mato, Maydell, Mažylis, Mehnert, Meimarakis, Mertens, Millán Mon, Montserrat, Morano, Motreanu, Mureşan, Navarrete Rojas, Nerudová, Nevado del Campo, Niedermayer, Novakov, Nykiel, Pascual de la Parte, Pedro, Pereira, Pietikäinen, Polfjärd, Popescu, Princi, Protas, Radev, Radtke, Ratas, Ressler, Ripa, Salini, Salla, Saudargas, Schenk, Schwab, Seekatz, Sienkiewicz, Simon, Smit, Solís Pérez, Sommen, Sousa Silva, Stier, Szczerba, Tarr, Teodorescu Måwe, Ter Laak, Terras, Tobé, Tomašič, Tomc, Tonin, Tosi, Tsiodras, Vaidere, Van Leeuwen, Verheyen, Voss, Vozemberg-Vrionidi, Vázquez Lázara, Walsh, Walsmann, Warborn, Wawrykiewicz, Wcisło, Weber, Wechsler, Winkler, Winzig, Wiseler-Lima, Zarzalejos, Zdechovský, Zdrojewski, Zoido Álvarez, Zovko, Zver

    PfE:
    Androuët, Annemans, Bartůšek, Bay Christophe, Blom, Bonte, Borchia, Borrás Pabón, Brasier-Clain, Bryłka, Buczek, Buxadé Villalba, Bžoch, Ceccardi, Cisint, Dauchy, Deloge, Deutsch, Diepeveen, Dieringer, Disdier, Dömötör, Dostalova, Ehlers, Ferenc, Frigout, Furet, Gál, Garraud, Girauta Vidal, Griset, Győri, Gyürk, Haider, Hauser, Hölvényi, Jamet, Joron, Knotek, Kovařík, Krištopans, Kruis, Kubín, László, Latinopoulou, Leggeri, Leonardelli, Mariani, Mayer, Moreira de Sá, Nagyová, Pennelle, Piera, Pimpie, de la Pisa Carrión, Pokorná Jermanová, Rougé, Sanchez, Sardone, Schaller-Baross, Sorel, Stancanelli, Steger, Stöteler, Szekeres, Tânger Corrêa, Tertsch, Thionnet, Tolassy, Tovaglieri, Turek, Vandendriessche, Vannacci, Varaut, Vicsek, Vilimsky, Vistisen, Werbrouck, Zijlstra

    Renew:
    Agirregoitia Martínez, Allione, Al-Sahlani, Auštrevičius, Azmani, Baljeu, Barna, Bosse, Boyer, Brandstätter, Canfin, Chastel, Christensen, Cotrim De Figueiredo, Cowen, Devaux, Eroglu, Farreng, Friis, García Hermida-Van Der Walle, Gerbrandy, Glück, Goerens, Gozi, Groothuis, Grudler, Guetta, Hahn, Henriksson, Ijabs, Joveva, Karlsbro, Karvašová, Katainen, Kelleher, Keller, Kobosko, Körner, Kulmuni, Kyuchyuk, Loiseau, McNamara, Minchev, Mullooly, Ní Mhurchú, Ódor, Oetjen, Paet, Petrov, Šarec, Singer, Strack-Zimmermann, Streit, Stürgkh, Tomac, Toom, Van Brug, van den Berg, Vasconcelos, Vasile-Voiculescu, Vautmans, Vedrenne, Verougstraete, Wiesner, Wiezik, Wilmès, Yar, Žalimas

    S&D:
    Agius Saliba, Andriukaitis, Angel, Annunziata, Arnaoutoglou, Assis, Attard, Bajada, Ballarín Cereza, Barley, Benifei, Biedroń, Bischoff, Blinkevičiūtė, Bonaccini, Borzan, Bullmann, Burkhardt, Cârciu, Cepeda, Ceulemans, Chahim, Clergeau, Corrado, Costanzo, Cremer, Cristea, Danielsson, Decaro, Dibrani, Dîncu, Di Rupo, Dobrev, Ecke, Eriksson, Fernández, Firea, Fita, Fuglsang, Gálvez, García Pérez, Geier, Germain, Glucksmann, Gomes, Gómez López, Gonçalves Bruno, Gonçalves Sérgio, Gori, Grapini, Grossmann, Gualmini, Guzenina, Heide, Heinäluoma, Homs Ginel, Incir, Jalloul Muro, Jerković, Jouvet, Kalfon, Kaljurand, Lalucq, Lange, Laurent, Laureti, López, López Aguilar, Luena, Lupo, Maestre, Maij, Maniatis, Maran, Mebarek, Mendes, Mikser, Molnár, Moreno Sánchez, Moretti, Muşoiu, Nardella, Negrescu, Nemec, Nica, Noichl, Ó Ríordáin, Pajín, Papandreou, Pellerin-Carlin, Penkova, Picula, Rafowicz, Regner, Repasi, Repp, Reuten, Ricci, Ridel, Rodrigues, Ros Sempere, Sánchez Amor, Sancho Murillo, Sargiacomo, Schaldemose, Scheuring-Wielgus, Schieder, Serrano Sierra, Sidl, Sippel, Śmiszek, Strada, Tarquinio, Temido, Tinagli, Tobback, Topo, Ušakovs, Van Brempt, Vešligaj, Vigenin, Vind, Wölken, Wolters, Zingaretti

    The Left:
    Andersson, Antoci, Arvanitis, Aubry, Barrena Arza, Botenga, Boylan, Carême, Chaibi, Clausen, Della Valle, Demirel, Everding, Farantouris, Flanagan, Fourreau, Funchion, Furore, Galán, Georgiou, Hassan, Kennes, Kountoura, Kyllönen, Lucano, Martins, Mesure, Montero, Morace, Oliveira, Omarjee, Palmisano, Pappas, Pedulla’, Rackete, Salis, Saramo, Schirdewan, Sjöstedt, Smith, Tamburrano, Tridico

    Verts/ALE:
    Andresen, Asens Llodrà, Bloss, Boeselager, Bosanac, Bricmont, Camara, Cavazzini, Cormand, Eickhout, Freund, Geese, Gregorová, Guarda, Häusling, Holmgren, Kuhnke, Langensiepen, Lövin, Marino, Marquardt, Marzà Ibáñez, Matthieu, Metz, Miranda Paz, Neumann, Niinistö, Nordqvist, Ohisalo, Orlando, Paulus, Peter-Hansen, Prebilič, Reintke, Riba i Giner, Riehl, Satouri, Sbai, Schilling, Scuderi, Sinkevičius, Søvndal, Staķis, Ştefănuță, Strik, Strolenberg, Tegethoff, Toussaint, Van Lanschot, Van Sparrentak, Vieira, Waitz

    MIL OSI Europe News

  • MIL-OSI New Zealand: Investing in injury prevention in the manufacturing sector

    Source: New Zealand Government

    ACC’s investment in New Zealand’s crucial manufacturing sector is a significant step to help reduce injuries, keep workers safe, and support economic growth, say ACC Minister Scott Simpson and Small Business and Manufacturing Minister Chris Penk.
    “My top priority with ACC is to address its declining performance and ensure the scheme remains financially sustainable for current and future generations. One of the best ways to both enhance the health and wellbeing of Kiwis and keep costs down is to prevent injuries from happening in the first place,” says Mr Simpson.
    “That’s why I welcome the steps ACC is taking to drive better health outcomes for workers and businesses in manufacturing.”
    In 2024, ACC worked with the Employers and Manufacturers Association to co-design a Harm Reduction Action Plan for Manufacturing, which proposed a series of solutions. ACC is now seeking a supplier who can combine their own insights with those from the industry, to develop and implement evidence-based initiatives that will reduce the incidence and severity of injuries and their associated costs.
    “Manufacturing is a powerful driver for economic growth in New Zealand, contributing more than 60 per cent of our exports and employing nearly 230,000 people across 23,000 business,” Mr Penk says. 
    “However, it stands out as the only major industry where work-related injury rates have not declined over the past decade. As a high-risk sector, manufacturing is prioritised by ACC to address the growing cost of claims in the working-age population.
    “Now is the time to implement some long-term initiatives to reduce the high rate of injuries in manufacturing. By reducing workplace harm, we can lower costs for businesses and ensure our manufacturers continue driving economic growth.”
    “The total annual ACC claims costs for the manufacturing sector are more than $165 million and growing. I am pleased that ACC is committed to working with the industry to make a difference, preventing harm and helping address rapidly rising costs,” says Mr Simpson.
    “I expect ACC to conduct a robust procurement process and I look forward to seeing the visions for the sector turn into reality.”
    Responses to the tender must be submitted via the New Zealand Government Electronic Tender Service (GETS) or procurement@acc.co.nz by 12pm, Tuesday 13 May 2025.

    MIL OSI New Zealand News

  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios as of March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, April 01, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of March 31, 2025.

    As of March 31, 2025, the Company’s net assets were $2.5 billion, and its net asset value per share was $14.64. As of March 31, 2025, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 639% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 486%.

     STATEMENT OF ASSETS AND LIABILITIES
    MARCH 31, 2025   // (UNAUDITED)
        (in millions)
    Investments   $ 3,447.3  
    Cash and cash equivalents     17.2  
    Accrued income     2.5  
    Other assets     1.1  
    Total assets     3,468.1  
         
    Credit facility     78.0  
    Notes     409.7  
    Unamortized notes issuance costs     (2.6 )
    Preferred stock     153.6  
    Unamortized preferred stock issuance costs     (1.2 )
    Total leverage     637.5  
         
    Other liabilities     8.6  
    Current tax liability, net     1.8  
    Deferred tax liability, net     344.3  
    Total liabilities     354.7  
         
    Net assets   $ 2,475.9  
     

    The Company had 169,126,038 common shares outstanding as of March 31, 2025.

    Long-term investments were comprised of Midstream Energy Companies (95%), Utility Companies (2%) and Other (3%).  

    The Company’s ten largest holdings by issuer at March 31, 2025 were:

            Amount
    (in millions)

    % Long Term
    Investments
    1. The Williams Companies, Inc. (Midstream Energy Company)   $361.5   10.5 %
    2. Enterprise Products Partners L.P. (Midstream Energy Company)     353.6   10.3 %
    3. Energy Transfer LP (Midstream Energy Company)     345.7   10.0 %
    4. MPLX LP (Midstream Energy Company)     329.7   9.6 %
    5. Cheniere Energy, Inc. (Midstream Energy Company)     265.2   7.7 %
    6. Kinder Morgan, Inc. (Midstream Energy Company)     223.1   6.5 %
    7. Targa Resources Corp. (Midstream Energy Company)     203.0   5.9 %
    8. ONEOK, Inc. (Midstream Energy Company)     201.6   5.8 %
    9. TC Energy Corporation (Midstream Energy Company)     159.1   4.6 %
    10. Western Midstream Partners, LP (Midstream Energy Company)     150.5   4.4 %

    Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network

  • MIL-OSI Europe: Answer to a written question – Adoption of the ReFuelEU Aviation Act and the economic impact of mandatory minimum sustainable aviation fuel quotas in the air transport sector – E-000653/2025(ASW)

    Source: European Parliament

    1. ReFuelEU Aviation[1] was overwhelmingly supported by the European Parliament[2] and the Council[3]. The Commission carried out an Impact Assessment before adopting the proposal which shows benefits through 250.000 net job creation and a new push for innovation and research[4]. Fuel costs derived from the 2% minimum share of sustainable aviation fuels (SAF) will increase costs for airlines over the short term as SAF are currently more expensive than kerosene. However, SAF prices are expected to mean an overall cost increase for airlines of around 1% by 2029. SAF prices are expected to go down from the current levels over the medium term easing the upward pressure on costs. The EU SAF market for biofuels is growing faster and higher than the minimum legal requirements in ReFuelEU Aviation. The SAF Allowances under the EU Emissions Trading System (EU ETS), and other tools offer financial support for the production and uptake of SAF[5]. This is allowing for the price increases to remain largely subdued over the short term. The increase in scale will lead to economies of scale, production efficiencies and industrial maturity that are expected to reduce the prices of SAF and consequently the relative price of blended SAF throughout the EU market.

    2. 20 million EU ETS allowances worth around EUR 1.6 billion are supporting the decarbonisation by compensating for the price differential between SAF and kerosene in flights covered by the EU ETS . Other EU financial instruments are also supporting SAF production scale up such as the Innovation Fund and InvestEU. The Commission will present later in 2025 a Sustainable Transport Investment Plan as part of the Clean Industrial Deal[6] which will outline short and medium-term measures to further support SAF.

    • [1] https://transport.ec.europa.eu/transport-modes/air/environment/refueleu-aviation_en
    • [2] https://www.europarl.europa.eu/news/en/press-room/20230911IPR04913/70-of-jet-fuels-at-eu-airports-will-have-to-be-green-by-2050
    • [3] https://www.consilium.europa.eu/en/press/press-releases/2023/10/09/refueleu-aviation-initiative-council-adopts-new-law-to-decarbonise-the-aviation-sector/
    • [4] https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12303-Sustainable-aviation-fuels-ReFuelEU-Aviation_en
    • [5] https://climate.ec.europa.eu/news-your-voice/news/adoption-eu-rules-ets-support-system-accelerate-use-sustainable-aviation-fuels-2025-02-06_en
    • [6] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en
    Last updated: 1 April 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Debates – Monday, 31 March 2025 – Strasbourg – Revised edition

    Source: European Parliament

    Verbatim report of proceedings
     471k  884k
    Monday, 31 March 2025 – Strasbourg

       

    IN THE CHAIR: ROBERTA METSOLA
    President

     
    1. Resumption of the session

     

      President. – I declare resumed the session of the European Parliament adjourned on 13 March 2025.

     

    2. Opening of the sitting

       

    (The sitting opened at 17:02)

     

    3. Approval of the minutes of the previous sitting

     

      President. – The minutes and the texts adopted of the sitting of 13 March 2025 are available.

    Are there any comments? I see that is not the case. Therefore, the minutes are approved.

     

    4. Composition of Parliament

     

      President. – Following the election of Maximilian Krah to the German Parliament, Parliament takes note of the vacancy of his seat from 25 March 2025, in accordance with the Rules of Procedure.

     

    5. Penalties

     

      President. – Pursuant to Rules 10 and 183 and after taking into account the observations of the Member concerned, I have decided to impose a penalty on Grzegorz Braun. During Parliament’s solemn session of 29 January 2025, on the occasion of the International Holocaust Remembrance Day, Mr Braun interrupted the minute of silence in memory of the victims of the Holocaust and disrupted the ceremony with his improper behaviour, which inflicted severe damage on the dignity and reputation of Parliament. I have also taken account of the recurrent nature of Mr Braun’s disrespect of the standards of conduct.

    This penalty consists of the forfeiture of his entitlement to the daily subsistence allowance for a period of 30 days, as well as a temporary suspension from participation in all the activities of Parliament for a period of 30 days on which Parliament meets in plenary, starting from 10 March 2025, without prejudice to his right to vote in plenary, and subject to strict compliance with the Members’ standards of conduct.

    In addition, the penalty consists of Mr Braun’s suspension from participation in the next Parliament solemn session dedicated to the International Holocaust Remembrance Day scheduled in January 2026.

    The Member concerned has been notified of these decisions and has not lodged an internal appeal with the Bureau pursuant to Rule 184. The penalty is therefore final.

    A raíz de las conclusiones del Comité Consultivo sobre la Conducta de los Diputados y habida cuenta de las observaciones del diputado, he decidido imponer una sanción a Alvise Pérez, de acuerdo con el artículo 183 del Reglamento interno, por haber infringido las obligaciones de transparencia previstas en el artículo 4 del Código de Conducta. La sanción consiste en la pérdida del derecho a las dietas para gastos de estancia durante un período de dos días.

    Mi decisión ha sido notificada al diputado, que no ha interpuesto un recurso interno contra la decisión ante la Mesa de conformidad con el artículo 184 del Reglamento interno. Por tanto, la sanción es definitiva.

     

    6. Composition of committees and delegations

     

      President. – The PfE and ESN groups have notified me of decisions relating to changes to appointments within committees and delegations.

    These decisions will be set out in the minutes of today’s sitting and take effect on the date of this announcement.

     

    7. Negotiations ahead of Parliament’s first reading (Rule 72)

     

      President. – The LIBE, AGRI and TRAN Committees have decided to enter into interinstitutional negotiations, pursuant to Rule 72(1) of the Rules of Procedure.

    The reports, which constitute the mandates for the negotiations, are available on the plenary webpage and their titles will be published in the minutes of the sitting.

    Pursuant to Rule 72(2), Members or political groups reaching at least the medium threshold may request in writing by tomorrow, Tuesday 1 April, at midnight that the decisions be put to the vote.

    If no request for a vote in Parliament is made within the deadline, the committees may start the negotiations.

     

    8. Proposals for Union acts

     

      President. – I would like to announce that, pursuant to Rule 47(2) of the Rules of Procedure, I have declared admissible a proposal for a Union act on amending Directive (EU) 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the European Union and introducing a mechanism of directly linking the cost of ETS allowances for companies to investments in clean technologies.

    This proposal is referred to the Committee on the Environment, Climate and Food Safety, as committee responsible, and to the Committee on Industry, Research and Energy, for opinion.

     

    9. Signature of acts adopted in accordance with the ordinary legislative procedure (Rule 81)

     

      President. – I would like to inform you that, since the adjournment of Parliament’s session on 13 March, I have signed, together with the President of the Council, one act adopted under the ordinary legislative procedure in accordance with Rule 81 of Parliament’s Rules of Procedure.

    The title of the act will be published in the minutes of this sitting.

    I would also like to inform the House that I have received two requests for points of order.

    I start by giving the floor to Villy Søvndal.

     
       


     

      Mounir Satouri (Verts/ALE). – Madame la Présidente,

    Mon rappel au règlement s’appuie sur l’article 40 et le respect des articles 2 et 6 du traité UE.

    Cette semaine, Viktor Orbán a prévu d’accueillir Benyamin Netanyahou sur le sol européen. Je rappelle que M. Netanyahou fait l’objet d’une enquête et qu’il est visé par un mandat d’arrêt de la Cour pénale internationale – la CPI – pour crimes de guerre et crimes contre l’humanité. La Hongrie, en tant qu’État partie au Statut de Rome et membre de son Assemblée, ne peut que coopérer avec la CPI. Ne pas le faire, c’est piétiner délibérément nos engagements internationaux.

    Je vous demande solennellement, Madame la Présidente, de rappeler à M. Orbán ses obligations: respecter le droit international et l’état de droit, et ne pas trahir les valeurs fondamentales de l’Union. Je vous demande également de rappeler à la présidente de la Commission son devoir d’activer le statut de blocage pour s’opposer à l’extraterritorialité des sanctions de M. Trump. La CPI est notre cour. La protéger, c’est défendre notre souveraineté.

     

    10. Order of business

     

      President. – We now come to the order of business. The final draft agenda, as adopted by the Conference of Presidents on 26 March pursuant to Rule 163 has been distributed.

    With the agreement of the political groups, I wish to put to the House the following proposals for changes to the final draft agenda.

    First of all, today’s sitting, Monday, is extended to 23:00.

    For Wednesday, the debate on the ‘European oceans pact’ is moved to the second point in the afternoon after the topical debate.

    A Commission statement on the ‘Threat to freedom of expression in Algeria: the five-year prison sentence of French writer Boualem Sansal’, with one round of political group speakers, is added as the seventh point in the afternoon, before the debates under Rule 150. As a consequence, the sitting is extended to 23:00.

    If there are no objections to this, then the changes are approved and we will move to changes requested by political groups.

    First of all, for tomorrow – Tuesday. The Greens Group has requested that a Commission statement on the ‘Recent judgement by a French court on large-scale misuse of EU funds by former MEPs’ be added as the fourth point in the afternoon. As a consequence, the sitting would be extended to 23:00.

    I give the floor first to Daniel Freund to move the request on behalf of the Greens Group.

     
       



     

      Tomas Tobé, on behalf of the PPE Group. – Madam President, dear colleagues, as was mentioned, this court ruling came today, only a couple of hours ago. The EPP Group, we are clear in our commitments to the rule of law and democracy, and we fully support the work of our European courts.

    Let me also point out that this week, here in Strasbourg, we will have a debate on transparency and anti-corruption policies in the European Union. But I do not think that this Parliament should make a habit of adding additional debates on specific court judgments, especially not on the same day that they have been made. I think this has been our position in the past. It will be our position also for the future. Therefore, we are against the Greens’ proposal.

     
       

     

      President. – First I will ask Mr Freund, do you agree with the alternative proposal from the PfE Group? I see the answer is no.

    So I will first put the request of the Greens Group to a vote by roll call.

    (Parliament rejected the request)

    Mr Garraud, do you want to keep your proposal?

    I will now read the PfE Group’s proposal, which is: ‘Attacks on democracy and the will of the people in Europe’. I now put the request that I have just read out to a vote by roll call.

    (Parliament rejected the request)

    The agenda remains unchanged.

    For Wednesday, The Left Group has requested that a Commission statement on the ‘EU’s response and preparedness for Trump’s tariffs on the European automotive industry’ be added in the afternoon after the debate on recent legislative changes in Hungary.

    I give the floor to Martin Schirdewan to move the request on behalf of The Left Group.

     
       

     

      Martin Schirdewan, im Namen der Fraktion The Left. – Frau Präsidentin, liebe Kolleginnen und Kollegen! Sie haben ja alle mitgekriegt, dass Donald Trump in der letzten Woche angekündigt hat, dass ab dem 2. April, also ab diesem Mittwoch, auf europäische Automobilexporte in die Vereinigten Staaten 25 % Strafzölle fällig werden. Diese Zölle treten also diesen Mittwoch in Kraft.

    Nach der Ansicht meiner Fraktion ist es deshalb dringend notwendig, dass sich dieses Haus mit dieser Situation – mit dem durch Trump eskalierten Handelskrieg –, mit der Situation der europäischen Automobilindustrie und vor allem auch der Situation der Beschäftigten in der Automobilindustrie befasst.

    Wir beantragen deshalb eine Änderung der Tagesordnung und schlagen vor, am Mittwochnachmittag eine Debatte hinzuzufügen, Herr Kollege; die nennt sich „Commission Statement on the EU’s response and preparedness for Trump’s tariffs on the European automotive industry“. So kann dann auch die Position der Abgeordneten dieses Hauses von der Kommission dabei berücksichtigt werden, wenn sie ihre Antwort hoffentlich klar und deutlich formuliert. Vielen Dank für die Unterstützung!

     
       


     

      Jörgen Warborn (PPE). – Madam President, we, the EPP, will vote against this proposal from the Left. And the reason is that it is not only about the tariffs on cars at the moment. As you are aware, on Wednesday, Trump will announce even further tariffs on other products. And the Commission is, of course, expected to present its countermeasures in mid-April.

    The most important aspect for us now is to respond to this trade conflict with President Trump in a unified way. However, we are still not in a position that we have clarity, and therefore we think we should have a broader debate on this topic for the May plenary, and that would give us time to analyse the situation fully, not least on the tariffs introduced this week, but also on the EU responses.

    That is why we would like to vote no for this proposal from the Left.

     
       


       

    (The sitting was briefly suspended)

     
       

       

    IN THE CHAIR: NICOLAE ŞTEFĂNUȚĂ
    Vice-President

     

    11. Resumption of the sitting

       

    (The sitting resumed at 17:20)

     

    12. Guidelines for the 2026 budget – Section III (debate)


     

      Andrzej Halicki, rapporteur. – Mr President, dear Mr Commissioner, it is nice to see two Polish names at the top of this very important debate.

    As rapporteur on guidelines for the 2026 budget, I would like to start this procedure. This is the very initial step. The first meeting of the trilogue is planned on 8 April and then in the beginning of June, we can see the draft budget presented by the Commission, but first we have to adopt the text which was prepared for you.

    Dear colleagues, after negotiations – and I would like to emphasise tough negotiations –between our political groups, I consider that we achieved a good and balanced text that respects the values and ideas of all political groups.

    I consider that we managed to find a sustainable compromise text to underline our priorities such as defence, security, energy, competitiveness, agriculture, resilience, economy, effective response to crisis, health, enhancing democracy and also building a stronger Union in a changing world.

    During the vote on Wednesday, we should endorse those guidelines and deliver a strong Parliament position. Those guidelines are also about our credibility as an institution. Let’s show to the Commission and to the Council that the European Parliament is a serious player, ready to defend the citizens’ priorities, to give them response to their expectations. Let’s prove that we are able to overcome our political differences, that we are united in our diversity for the common good.

    As the last comment from my side before the vote, I would like to recall you that we are gathered in this House to defend the common good of all Europeans. We need to keep in mind that the adoption of guidelines is a very important step in the budgetary procedure and we should not let single issues and special interests hijack the whole process.

    Please allow me to thank shadow rapporteurs of other political groups for their collaboration during the negotiations. It was very important that it was really team work and we had a good will to achieve this balanced text in the end. I would like to also thank all the Committee on Budgets’ staff, and also our assistants from all the groups, because this work was really brilliant.

    Thank you very much, waiting for the voting on Wednesday, I hope we will not do the mistakes like the last years.

     
       

     

      Piotr Serafin, Member of the Commission. – Mr President, honourable Members of the European Parliament, let me first thank Mr Halicki – your rapporteur – and the Budget Committee for the draft guidelines for the 2026 budget.

    In the current geopolitical context, a strong EU budget is a vital tool for the EU in view of the security and stability threats. As at the time when we face rising global tensions, the still ongoing Russian war of aggression in Ukraine and continuous security threats, Europe must find resources to defend itself, support our partners and invest in its own competitiveness.

    A strong EU budget contributes to respond to these challenges, but it has its constraints. It is no secret that the limited resources in the final years of the MFF pose an additional challenge and put some restrictions on the level of our ambitions. We are all aware that the room for manoeuvre to respond to unforeseen events is still very limited, despite the revision of the MFF, which took place last year.

    When it comes to the incoming negotiations on the 2026 budget, let me recall commitments on the application of the EURI cascade mechanism. It was agreed that the 50 % benchmark of financing the additional needs for the EURI line under step two should be targeted annually. We all know it’s going to be a challenge in these negotiations, and in this respect, the Commission will keep the Parliament updated throughout the budgetary procedure on the forecast of the additional needs for the EURI line with information on the NGEU borrowing costs, the expected RRF disbursements, as well as on available decommitments. The final needs for the 2026 budget will be known at the time of the presentation of the amending letter in early October 2025.

    Now turning to the next steps, the first trilogue, as was said by Mr Halicki, will take place on 8 April. We will discuss your guidelines as well as those of the Council and agree on the calendar for the 2026 budgetary procedure. The Commission aims to adopt its statement of estimates in early June.

    Honourable Members, I look forward to an open and constructive dialogue with you throughout the negotiations, and I’m fully committed to good cooperation and open exchanges, and I will work with both arms of the budgetary authority on this basis, in order to facilitate a timely agreement on the next year’s budget.

     
       

     

      Michael Gahler, rapporteur for the opinion of the AFET Committee. – Mr President, colleagues, Commissioner, when it is for the Foreign Affairs Committee, of course, as the lead committee on external issues, when it is about war and peace in Europe, and it’s about defending our European way of life, this has to be reflected in the budget of the European Union as well.

    And we address, of course, the Russian war of aggression in Ukraine. We address the situation in the Middle East. And as the Commissioner rightly said, we already reformed the Multiannual Financial Framework, we are grateful for that, for the EUR 50 billion Ukraine facility primarily last year – well, we ought to reform it already now and not wait till we are in the next financial framework.

    But, the measure is taken by the Commission, when it comes to ReArm Europe, and you are aware of the position of the Parliament, that we are not happy about the legal base that has been chosen, because that excludes us, and insofar, we support the need to address the challenges that are on the agenda, but the legal base is not to our advantage.

     
       

     

      Niclas Herbst, Verfasser der Stellungnahme des CONT-Ausschusses. – Herr Präsident! Ein herzliches Dankeschön auch an den Berichterstatter für die harte Arbeit: Das ist nicht einfach, die verschiedenen Punkte unter einen Hut zu bekommen. Ich glaube, das ist gut gelungen, und wir müssen jetzt auch einig nach vorne schauen. Ich möchte mich auch dafür bedanken, dass viele der Punkte aus der Haushaltskontrolle und auch aus unserer Prüfung in den Bericht Eingang gefunden haben. Das ist sehr, sehr wichtig, auch für die Zukunft.

    Ich weiß natürlich, dass es auch einzelne Punkte gibt, die uns unterscheiden und die wir auch ansprechen müssen, die auch im Parlament geklärt werden müssen. Sei es bei der Frage: Wie gehen wir in Zukunft mit UNRWA um? Sei es bei der Frage: Wie stehen wir zu Mercosur? Sei es bei der Frage: Wollen wir bestimmte Beispiele zur Aufstachelung von Hass in palästinensischen Schulbüchern noch dulden, oder gehen wir dagegen auch finanziell vor? Das sind Dinge, die müssen hier im Parlament geklärt werden.

    Aber im Vordergrund sollte auch stehen – und deshalb hoffe ich, dass es wenig key votes gibt und wenig rote Linien –, dass wir gemeinsam sehen, was wir hier mit dem Haushalt erreichen müssen. Ich glaube, dass auch die Kontrollrechte des Parlamentes in Gefahr sind und dass wir hier immer gut gefahren sind, wenn wir auch Einigkeit gezeigt haben. Da wünsche ich mir auch für die Zukunft weniger key votes, mehr Einigkeit: Das ist jetzt nötiger denn je.

     
       

     

      Antonio Decaro, relatore per parere della commissione ENVI. – Signor Presidente, onorevoli colleghi, userò questo minuto per parlarvi del programma LIFE, tra i più longevi e di successo dell’Unione europea.

    Sebbene rappresenti soltanto lo 0,3 % del bilancio dell’Unione europea, i risultati prodotti attraverso ogni singolo progetto sono importantissimi. La commissione ENVI, che rappresento, nel suo parere ha ampiamente valorizzato gli effetti positivi del programma.

    Solo nel mio paese, l’Italia, sono stati finanziati 1 077 progetti e investiti 2 145 milioni di euro; sono state avviate collaborazioni con start up innovative, imprese, università, centri di ricerca, agricoltori, autorità nazionali e locali. Sono proprio i comuni i maggiori beneficiari dei fondi di questa misura, perché è lì, nei comuni, che si cambia la vita dei cittadini.

    Rivolgo quindi un appello a chi forse non ha mai letto i numeri del programma LIFE e a chi vorrebbe definanziarlo. Ogni progetto del programma LIFE è un investimento doppio: ci permette di investire sulle tecnologie verdi oggi, e sulla qualità della vita del pianeta di domani.

     
       


     

      Borja Giménez Larraz, ponente de opinión de la Comisión TRAN. – Señor presidente, hablaré en nombre del señor Falcă, ponente de la opinión de la Comisión de Transportes y Turismo.

    Para 2026, necesitamos un presupuesto de la Unión Europea más fuerte para el transporte. Debemos aumentar significativamente el presupuesto del Mecanismo «Conectar Europa» para financiar proyectos de infraestructura clave, en particular el transporte transfronterizo.

    Es esencial invertir en trenes de alta velocidad, trenes nocturnos y corredores de mercancías. La ampliación de la capacidad ferroviaria desplazará más mercancías de las carreteras, reduciendo las emisiones y la congestión. La digitalización del transporte, las soluciones inteligentes y la simplificación de las normativas facilitarán los viajes transfronterizos y mejorarán el acceso a la financiación de la Unión Europea.

    Dado el contexto geopolítico actual, es urgente restablecer la financiación de la movilidad militar. Debemos modernizar las conexiones de transporte entre la Unión Europea, Moldavia y Ucrania, especialmente las redes ferroviarias.

    Por último, el turismo necesita modernización y apoyo, lo que incluye la reducción de las cargas administrativas para las pymes y la innovación digital para impulsar las economías locales.

     
       

     

      Gabriella Gerzsenyi, a(z) REGI bizottság véleményének előadója. – Tisztelt Elnök Úr! Örömteli, hogy a költségvetés egyik pilléreként szerepel a jelentésben a kohéziós politika. Fontos, hogy a kohéziós politikára szánt összeg ne csökkenjen, és hogy a kohéziós politika hosszú távú célkitűzéseit se veszítsük szem elől. Fontos, hogy a “senkit ne hagyjunk hátra” alapelvet érvényesíthessük maradéktalanul.

    Az is örömteli, hogy a jelentésben szerepel a magyaroknak különösen fontos közvetlen EU-s források említése. Ezt külön köszönjük! Sajnos ma Magyarországra nem jut el az EU-s források jelentős része. A kormány különösen az ellenzéki vezetésű településeket bünteti, ezáltal magyar emberek százezreit fosztja meg minőségi szolgáltatástól, egészségügytől, színvonalas oktatástól.

    A Tisza párt mindent megtesz azért, hogy a kohéziós forrásokat hazahozza és egy élhető Magyarországot teremtsen 2026-tól.

     
       

     

      Camilla Laureti, relatrice per parere della commissione AGRI. – Signor Presidente, onorevoli colleghi, per milioni di agricoltori in tutta Europa, per promuovere sistemi sostenibili e per fornire cibo equo e di qualità a tutti, le politiche agricole di sviluppo rurale hanno un ruolo centrale.

    Le sfide e le crisi che sta attraversando questo settore non ammettono una riduzione della dotazione finanziaria della PAC. Anzi, c’è bisogno di più fondi, almeno di adeguarli all’inflazione, che negli ultimi anni ha fatto perdere miliardi di euro.

    Dobbiamo fare di più e fare meglio per il contesto internazionale, che ci impone di potenziare le politiche di promozione per i prodotti europei; per i cambiamenti climatici e la siccità, che richiedono misure di mitigazione e contrasto e strumenti di gestione della crisi; per lo spopolamento delle aree rurali e la chiusura delle aziende agricole, che esigono nuove misure per il rinnovo generazionale e per la creazione di posti di lavoro di qualità e dignitosi.

    L’elenco sarebbe ancora lungo. Parliamo della cura, la cura delle nostre terre, del pianeta, la cura delle persone. Non possiamo permetterci né rallentamenti, né passi indietro.

     
       

     

      Hélder Sousa Silva, relator do parecer da Comissão CULT. – Senhor Presidente, Senhor Comissário, caros colegas, as linhas orientadoras para o orçamento de 2026 refletem uma visão clara para o futuro da União Europeia. A inclusão da cultura e da educação nas diretrizes é um passo crucial, reafirmando o seu papel essencial na construção de uma Europa mais forte, mais conectada, mais conhecedora e mais preparada para os desafios globais que se avizinham.

    A proteção e o reforço de programas como Erasmus+, Europa Criativa e o Corpo Europeu de Solidariedade são passos fundamentais para promover a inclusão, a formação de competências e o fortalecimento da nossa identidade comum. Estes programas desempenham um papel crucial não só no desenvolvimento dos nossos jovens, mas também em toda a sociedade.

    É, por isso, vital garantir que o orçamento de 2026 assegure os recursos necessários para que possamos enfrentar os desafios futuros com confiança, com força, mas, acima de tudo, com união.

     
       


     

      Karlo Ressler, on behalf of the PPE Group. – Mr President, dear Commissioner Serafin, dear colleagues, the annual budget for the next year is one of the final budgets in the multiannual financial framework.

    With limited fiscal space, it is necessary, therefore, to set clear priorities. Among them, in the face of the deep growing geopolitical threats, must be the need to strengthen European defence and security policies, stronger investments in strategic capacities and Europe’s ability to respond to crises.

    In addition, it is crucial to ensure continued support for an effective migration policy and the protection of our external borders. At the same time, we need to invest in productivity and competitiveness so that Europe remains a global leader, but also a safe and prosperous home for its citizens.

    In this context, but also in the context of the negotiations on the MFF, the adoption of the guidelines carries significant political weight. In recent years, unfortunately, the Parliament did not always adopt its own guidelines. We all have, therefore, the responsibility not to allow such a signal of weakness to be repeated.

    I welcome the proposal on the budgetary guidelines by Andrzej Halicki, our rapporteur, and I really welcome this responsible approach and hope that we will continue like this also with the vote this week.

     
       

     

      Jean-Marc Germain, au nom du groupe S&D. – Monsieur le Président, Monsieur le Commissaire, chers collègues, dans un monde au bord de l’effondrement, où l’impérialisme surgit, où nos alliés s’éloignent de nous, où les inégalités se creusent, où la guerre est à notre porte, l’Europe s’érige en dernier vaisseau, qui trace son sillage d’humanisme, de paix et de prospérité. L’Europe doit continuer de montrer le cap, et pour cela elle a besoin de notre volonté commune. Mais elle a aussi besoin d’un budget.

    Ce budget doit être au service de nos concitoyens. Il doit permettre, Monsieur le Commissaire, plus d’investissements pour répondre à l’urgence sécuritaire, à l’urgence climatique et à l’urgence sociale. Il doit refuser les coupes dans les politiques sociales et environnementales destinées à payer les intérêts de la dette engendrée par la COVID-19 et à financer les efforts de défense. Nous devrons trouver les ressources pour faire et l’un et l’autre. C’est le message clé de ce texte, que nous allons voter mercredi, et je veux en féliciter le rapporteur, M. Halicki, et les rapporteurs fictifs – M. Ušakovs, pour ce qui nous concerne.

    Aujourd’hui, le compromis trouvé entre les quatre groupes de la coordination pro-européenne est menacé par l’introduction de débats qui n’ont rien à voir avec le budget – sur l’immigration, sur le financement de l’aide à Gaza. Les mêmes causes produisant les mêmes effets, ce budget est en danger – je vous le dis, il va droit dans le mur.

    Chers collègues du PPE, vous vous apprêtez à voter des amendements qui sont inacceptables pour notre groupe. Rien ne serait pire que de voir le Parlement ne pas se montrer capable, en ces temps troublés, de définir ses orientations budgétaires. Nous nous sommes battus ensemble pour arriver à un compromis. Ce compromis est bon, il n’est pas trop tard. Hissons-nous à la hauteur de nos responsabilités historiques! Donnons un cap budgétaire à l’Europe!

     
       

     

      Julien Sanchez, au nom du groupe PfE. – Monsieur le Président, je voudrais d’abord présenter mes condoléances à la France. Oui, après la Roumanie, l’état de droit est mort en France aujourd’hui, après qu’un juge a décidé de rendre inéligible, à la suite d’une cabale socialiste fomentée ici, la cheffe de l’opposition, créditée hier encore de 37 % des voix au premier tour de la présidentielle. Tout démocrate ne peut qu’être choqué de voir que l’inéligibilité de la seule candidate d’opposition crédible déclarée…

    (Le Président interrompt l’orateur)

    … les Français sont choqués et adhèrent nombreux à notre parti depuis cette décision. Nos idées montent, et vous ne pourrez rien y changer.

    Revenons à ce Parlement. Nous y sommes la première délégation, tous pays confondus. J’ai quelques secondes pour vous parler des orientations pour le budget 2026. Force de proposition, le groupe des Patriotes pour l’Europe a fait un grand nombre d’amendements sur ce sujet, qui seront mis aux voix cette semaine.

    Ce qu’il faut retenir de votre orientation, c’est l’aveuglement idéologique sectaire. Seule l’urgence climatique vous intéresse. Rien sur l’économie, la sécurité ou la crise migratoire. Alors que les flux irréguliers explosent, les frontières restent des passoires, mais vos orientations s’enferment dans le confort des instruments existants, dont l’inefficacité est pourtant notoire. Vous voulez aussi élargir encore l’Union européenne à des pays qui ne seront pas contributeurs nets. Vous voulez enfin créer de nouvelles ressources propres – impôts ou taxes.

    Nous nous opposerons à toutes ces folies.

     
       


     

      Ruggero Razza, a nome del gruppo ECR. – Signor Presidente, signor Commissario, onorevoli colleghi, desidero anche io iniziare l’intervento riconoscendo al relatore al collega Halicki lo sforzo fatto per cercare di ricomprendere, in queste linee guida sul bilancio 2026, alcuni degli elementi essenziali più importanti che provenivano dalle proposte di tutti i gruppi politici, anche del nostro.

    Ovviamente questo è un dibattito che interviene in un momento particolare, mentre è incerto il quadro della crescita economica per tutti e 27 i paesi dell’Unione europea, legato anche a questioni di natura geopolitica che incombono in questi mesi, e così sarà anche nei mesi a venire.

    Non meraviglia quindi l’attenzione verso il tema della sicurezza e della difesa, che è considerato, anche in questa relazione al bilancio 2026, uno dei punti straordinariamente più importanti.

    Così come condividiamo molto il lavoro sul tema della ricerca e dello sviluppo, sulla necessità di dotarsi di una sovranità nella produzione dell’energia, nella gestione dell’approvvigionamento del farmaco, nell’attenzione verso le piccole e medie imprese, anche nella forma del partenariato tra pubblico e privato; nel ribadire l’impegno per la politica agricola comune. Sono tutte questioni che certamente trovano spazio, così come il grande tema della lotta all’immigrazione.

    C’è solo un dubbio, Commissario: che 200 miliardi di euro siano pochi per fare tutto questo. Anche su questo bisognerà riflettere.

     
       

     

      Stine Bosse, on behalf of the Renew Group. – Mr President, Commissioner, dear colleagues, the world around us is changing rapidly. As we, the Members of this Parliament, work towards the next EU budget, we must make tough political decisions already today and act with responsibility.

    Our clean industrial deal must succeed. This means massive investments in grids, in electrification and hydrogen. Public health is an investment, not a cost. It is the foundation of our security. And in the words of our Commissioner, what we can do better and cheaper together, we must.

    Finally, Europe must rearm. We have no time to lose. We will need cool heads and warm hearts. Let us show that the majority of this Parliament is united. This week, as we vote on the guidelines, let’s build the foundation of a strong political agreement. We will need it in the years to come.

     
       

     

      Rasmus Andresen, im Namen der Verts/ALE-Fraktion. – Herr Präsident! Für uns Grüne ist die Stärkung unserer Demokratie und der demokratischen Zivilgesellschaft eines der Schwerpunktthemen für den Haushalt 2026. Deshalb beobachten wir mit Sorge, wie inzwischen die Legitimität der demokratischen Zivilgesellschaft von weiten Teilen – nicht nur hier im Haus, sondern auch global – angegriffen wird.

    Wir sehen, dass Donald Trump gegen Unternehmen und Universitäten vorgeht, die andere Werte vertreten, als er das tut. Wir sehen, dass Viktor Orbán unabhängigen Journalisten und Menschenrechtsorganisationen vorwirft, vom Ausland gekauft zu sein. Aber wir erleben auch, dass konservative Parteien wie z. B. die CDU/CSU-Fraktion im Deutschen Bundestag mit einem Fragenkatalog das demokratische Engagement von Zivilgesellschaft untergraben will.

    Wenig überraschend trifft es bei diesen Fragen immer Organisationen, die eine andere Meinung haben als diejenigen, die sie angreifen. Und genau dasselbe, nämlich unliebsame Organisationen mundtot zu machen, das erleben wir jetzt auch durch Angriffe der CDU/CSU auf das LIFE-Programm und auf Umweltschutzorganisationen hier im Haus.

    Lassen Sie es mich ganz klar sagen: Steuergeld muss natürlich rechtmäßig ausgegeben werden. Aber wir haben das Vertrauen in den Rechnungshof oder aber auch in die EU-Kommission, die mehrfach deutlich gemacht hat, dass die Vorwürfe aus Reihen der CDU/CSU gegenüber diesen NGOs unhaltbar sind.

    Wir wünschen uns hier breite Mehrheiten für den Haushalt, und wir stehen auch dazu. Aber dann muss man auch sich gemeinsam mit den anderen demokratischen Fraktionen hier im Haus bei solchen Themen verhalten und darf sich nicht von den Rechtsextremen treiben lassen.

     
       

     

      João Oliveira, em nome do Grupo The Left. – Senhor Presidente, Senhor Comissário, um orçamento é sempre um teste que permite separar as intenções políticas reais das proclamações políticas vazias de conteúdo. A discussão das orientações para o orçamento da União Europeia para 2026 é um desses testes.

    As alterações que apresentámos dão uma resposta clara: é possível termos um orçamento que dê centralidade às soluções para os problemas dos povos. Por isso, apresentámos propostas que dão resposta ao aumento do custo de vida e apoiam a convergência no progresso económico e social. Propostas que promovem o pleno aproveitamento das capacidades produtivas de cada país, o investimento nos setores produtivos e a criação de emprego com direitos. Propostas que preveem o financiamento adequado ao combate à pobreza, nomeadamente à pobreza infantil, ao investimento público, ao reforço da capacidade de resposta dos serviços públicos, designadamente na saúde, na educação e na segurança social, ao acesso a uma habitação digna e a preços acessíveis para todos. Propostas para a defesa da paz, do respeito pela Carta das Nações Unidas e dos princípios do Direito Internacional e do reforço da ajuda pública ao desenvolvimento de outros países e povos.

    As propostas que apresentámos são essenciais para reverter orientações que vão num sentido errado, no sentido do militarismo e da corrida aos armamentos, no sentido do favorecimento das grandes empresas e das multinacionais – sob o pretexto da competitividade –, no sentido do desprezo pelos problemas que atingem os povos, as suas condições de vida e o seu futuro.

    O desafio que deixamos a este Parlamento é o de que se utilize o orçamento da União Europeia para aquilo em que ele pode ser útil aos povos e ao seu futuro e não para os prejudicar.

     
       

     

      Alexander Jungbluth, im Namen der ESN-Fraktion. – Sehr geehrter Herr Präsident! Der Haushaltsplan sieht sich anscheinend als Heilsbringer, doch in Wahrheit versteckt sich hinter den bunten Parolen Chaos und Versagen. Die EU hat sich auf einen falschen Weg begeben, auf dem man die Augen vor den wahren Problemen verschließt. So bezieht man sich in den Leitlinien ausführlich auf den Angriffskrieg Russlands gegen die EU, man spricht von einer vermeintlichen Verteidigungsfähigkeit, Klimawandel, Biodiversität. Das ist alles Ihr Programm, aber es sind nicht die Hauptprobleme unserer Bürger.

    Eine von der EU verursachte Energie- und Wirtschaftskrise, unkontrollierte Zuwanderung und der Verlust der Meinungsfreiheit – das ist das, was die EU-Bürger beschäftigt.

    Und lassen Sie mich eine Sache noch zur EVP sagen. Was mich gerade doch zum Schmunzeln gebracht hat, war Herr Simon von der CDU. Herr Simon hat doch gerade tatsächlich gesagt, mit Schulden könne man keine Probleme lösen, man solle doch auf Haushaltsdisziplin achten. Jene CDU, die im dreistelligen Milliardenbereich jetzt Schulden in Deutschland machen will, in einem Maß, wie es sich die Sozialisten niemals getraut haben, die erzählen uns hier jetzt etwas von Haushaltsdisziplin, davon, dass man Schulden doch zurückzahlen müsse. Das ist an Lächerlichkeit kaum zu überbieten. Sie haben alle Werte verloren. Die CDU ist im wahrsten Sinne des Wortes wertlos.

     
       

     

      Siegfried Mureşan (PPE). – Mr President, dear colleagues, Mr Jungbluth, our duty here in the European Parliament is to protect the citizens of Europe. And I am afraid that your speech here does not provide any additional protection, any additional certainty and any additional security to the people of Europe. This is the difference between pro-Europeans and between sceptics, extremists and anti-Europeans.

    We want to we want to solve problems here. We want to strengthen Europe. You want to weaken Europe and to just want to create problems.

    What is our approach for next year? Under the leadership of Andrzej Halicki, the European Parliament’s rapporteur for the budget 2026, we are putting forward clear priorities for the budget of the European Union for next year. Security, strategic autonomy, food security and economic resilience should be our priorities. We want to make our economy stronger, more competitive, more resilient so that we can together invest more in the security of our citizens, in defending our countries, in protecting our external borders, in overcoming the multiple risks that we are facing.

    Autocrats around the world are cooperating more and more. Russia is not the only country that is trying to weaken our cyber security. That is challenging the security at our external borders. And we need to provide a clear answer.

    And what Andrzej Halicki is putting forward is an approach based on the priorities of all pro-European groups. We believe this has to be supported, and we believe that particularly in the area of security, defence, protecting the citizens, we will have to do more, faster and for a longer period of time. We are starting with the budget of 2026, and we believe that these will be our priorities for the foreseeable future.

    Congratulations to the rapporteur.

     
       

     

      Sandra Gómez López (S&D). – Señor presidente, señor comisario, la guerra ha vuelto a nuestras fronteras. Rusia no solo ataca a Ucrania, ataca la idea que representa Europa: democracia, libertad y derechos. Por eso el futuro de Europa también se juega en otros países. Rusia busca desestabilizar a nuestros vecinos orientales y del sur. Y no solo lo hace con tanques, lo hace con desinformación, con chantaje energético y con financiación de actores antidemocráticos.

    Al mismo tiempo, los Estados Unidos dudan y en esa duda Europa tiene que decidir: o asume su papel en el mundo o lo perderá. No podemos depender de terceros para defender nuestros valores ni nuestra seguridad. Pero eso no solo se hace invirtiendo más en defensa, se hace también invirtiendo más en cooperación y en políticas de vecindad. Y por eso necesitamos en este presupuesto más recursos para todo ello. Porque apostar por nuestra vecindad no solo es un gesto de caridad, es un acto en defensa propia.

    Proteger nuestros países vecinos es proteger Europa. Y apostar por ello no es un gasto, es una inversión en paz, en estabilidad y en democracia.

     
       

     

      Bogdan Rzońca (ECR). – Panie Przewodniczący! Panie Komisarzu! Chcę powiedzieć bardzo wyraźnie, że ta propozycja jest lepsza, którą przygotował pan poseł Halicki niż w poprzednich latach. My patrzymy na realność gospodarki europejskiej i widać tutaj poważną zmianę, z czego się cieszymy. Cieszymy się, że nasze poprawki ECR zostały uwzględnione, bo zawsze mówimy tutaj, ktokolwiek reprezentuje ECR, że trzeba wspierać wspólną politykę rolną, dopłaty bezpośrednie, młodych rolników, bo to jest nasza przyszłość. Są uwzględnione średnie i małe przedsiębiorstwa, to także nasza ważna pozycja. Popieramy fundusz Erasmus+ dlatego, że młodzi ludzie powinni mieć możliwość kształcenia się. No i oczywiście też popieramy wszystko, co się dzieje w obszarze transportu i energii, ten aspekt jest po prostu tu uwzględniony.

    Także popieramy infrastrukturalne rozwiązania. W tym wypadku przypomnę, że trzeci raz zgłaszamy teraz poprawkę dotyczącą płotów, fences, kiedyś to było fences, teraz są bariery na granicy, ale jest to uwzględnione, trzeba to powiedzieć, te fizyczne zapory na granicy są uwzględnione, wobec tego, to też nas cieszy, bo Europa musi być przede wszystkim bezpieczna, więc także tę sytuację widzimy.

    Na pewno zauważenie kwestii mieszkaniowych, trudności związanych z mieszkalnictwem i odzwierciedlenie tego w budżecie też jest istotne. No i oczywiście, chociaż nie popieramy, nie popieramy wspólnej armii europejskiej, to wiadomo, to jednak te wszystkie działania, które są zawarte w tym dokumencie, naszym zdaniem zasługują na poparcie i ja tak zagłosuję. Więc myślę, że po prostu wszystkie te zapisy, także związane z mechanizmem obronnym, z tym, co się wiąże z ochroną ludności, bo mamy też katastrofy w Unii Europejskiej, jest odzwierciedlone w budżecie, więc to zasługuje na naszą uwagę i poparcie.

     
       

     

      Lucia Yar (Renew). – Mr President, Commissioner, colleagues, just last night, I returned from Kyiv, where I witnessed first-hand the looming threat that Russia poses to all of Europe. And believe me, we cannot afford to ignore the growing risks of further aggression further.

    It is crucial that we make security a top priority in our 2026 budget guidelines and negotiate it resolutely with Member States. I want to thank the rapporteur and the shadow rapporteurs for placing defence at the forefront of next year’s budget, because the war on our doorstep is real. And the only way to safeguard Europe’s future is through collective defence and unwavering support for Ukraine.

    Strengthening our military capabilities, investing in defence technologies and showing solidarity with Ukraine are all essential. Their fight is our fight. And by securing Ukraine, we protect the entire European Union. Now, more than ever, we must ensure our resources are focused on defending peace and strengthening Europe.

     
       

     

      Isabel Benjumea Benjumea (PPE). – Señor presidente, señor comisario, los presupuestos son la plasmación concreta y precisa de las prioridades políticas, de las respuestas a los retos y de las soluciones a los problemas. Los presupuestos son imprescindibles para el adecuado funcionamiento de las instituciones. Sin ellos, la acción política se limita a las promesas vacías, a la falsa retórica y a los artificios contables. Sin presupuestos, ni hay prioridades ni hay política.

    Si queremos en Europa apostar por la competitividad, la defensa, la seguridad, la cohesión, la PAC, la investigación o el Erasmus+, necesitamos un presupuesto. Por ello, quiero poner en valor el procedimiento presupuestario que tenemos en la Unión Europea y el trabajo de su ponente, el señor Halicki.

    Lamentablemente, no podemos decir lo mismo en España, en mi país, donde el Gobierno se niega a cumplir el mandato constitucional de presentar los presupuestos por segundo año consecutivo. Es una anomalía democrática absolutamente inconcebible en un Estado de la Unión Europea y quiero denunciarla públicamente aquí.

     
       

     

      Giuseppe Lupo (S&D). – Signor Presidente, signor Commissario, onorevoli colleghi, il futuro dell’Europa dipende dalla sua capacità di investire e di rilanciare la competitività in modo strategico e inclusivo.

    Per il 2026 sarà fondamentale avere un bilancio forte e concentrare i fondi europee su aree chiave che possano garantire un vero cambiamento.

    In primo luogo, i giovani: investire in istruzione e formazione, in particolare per l’occupazione giovanile e delle donne, è essenziale per lo sviluppo delle aree svantaggiate dell’Unione europea, come la Sicilia e la Sardegna.

    È necessario rafforzare gli investimenti per la salute e la ricerca, per gli aiuti umanitari tagliati dall’amministrazione Trump, per aiutare le popolazioni colpite da guerre, carestie e calamità naturali – come recentemente, purtroppo, in Birmania.

    Vogliamo un’Europa che investe sul futuro, che investe sui giovani; un’Europa che sia più equa, coesa e prospera.

     
       

     

      Tobiasz Bocheński (ECR). – Szanowny Panie Przewodniczący! Przez świat przetacza się wiatr zmian i zagrożeń. U progu Unii Europejskiej toczy się wojna. Wszyscy jesteśmy świadkami rewolucji technologicznej, która dzieje się na naszych oczach. Raport Draghiego pokazał, że gospodarka Unii Europejskiej wymaga gruntownych zmian, a te zmiany muszą rozpocząć się od odbiurokratyzowania i deregulacji, która powinna się odbyć. I niewątpliwie widzimy interesującą i ciekawą dyskusję wokół tych kwestii w Unii Europejskiej. Wytyczne dla budżetu 2026 i to, co przedstawił sprawozdawca, zasługuje na naszą uwagę, ponieważ pokazuje zmiany, ale jednocześnie ma też wiele wad, o których warto powiedzieć.

    Nie ma radykalnego odejścia od głupiej polityki Zielonego Ładu, który niszczy naszą gospodarkę i sprawia, że nie będziemy konkurencyjni wobec Unii, wobec Stanów Zjednoczonych i Chin. To wymaga głębszego przemyślenia i głębszych korekt niż te, które są zaproponowane i zmierzają wszak w lepszym kierunku niż w latach poprzednich.

     
       

     

      Janusz Lewandowski (PPE). – Panie Przewodniczący! Panie Komisarzu! Uzgadniamy priorytety Parlamentu na rok 2026. Pozycja Parlamentu, czyli siła negocjacyjna, powinna być solidnie wsparta przez głosowanie większościowe w środę. To jest ważne, dlatego że Parlament ma realny wpływ na budżety roczne w ramach codecision, a szczególnie teraz mamy ogromne problemy, żeby w ciasnych ramach wieloletnich ram finansowych 2021–2027 znaleźć solidną odpowiedź finansową na nowe wyzwania, nowe zagrożenia.

    Dlatego uciekamy się do rozwiązań pozabudżetowych, takich jak NewGenerationEU czy nowa inicjatywa SAFE z gwarancją budżetową, ale opartych na artykule 122, który praktycznie eliminuje Parlament. Dlatego tak ważne jest, aby ta karta przetargowa Parlamentu obroniła się w głosowaniu w środę. To będzie nasz egzamin ze sztuki zawierania kompromisów na tym forum. Idąc poza budżety roczne, jesteśmy coraz bardziej ciekawi, co nam komisarz Serafin wyszykuje w budżetach po roku 2027.

     
       

       

    Catch-the-eye procedure

     
       

     

      Gabriel Mato (PPE). – Señor presidente, cuando hablamos de los próximos presupuestos, como canario, no puedo dejar de llamar la atención sobre la importancia del POSEI y la necesidad de adaptarlo a la situación actual. Por eso hay que celebrar que se haya incluido nuestra enmienda en el informe sobre las orientaciones generales para la preparación del presupuesto 2026. La ficha financiera del POSEI lleva trece años sin actualizarse y es el momento de que la modifiquemos para reflejar el aumento de costes derivado de la inflación y el aumento de los precios de la energía, y así asegurarnos de que la agricultura en Canarias siga gozando del necesario apoyo de la Unión.

    Pero más importante aún, y mirando más allá de 2026, las negociaciones para el próximo marco financiero plurianual comenzarán pronto y debemos garantizar que todos los agricultores de la Unión reciben apoyo económico, especialmente los de las regiones ultraperiféricas. El Parlamento está haciendo su parte; incluso la Comisión Europea ha reconocido que estas regiones requieren de un compromiso firme por parte de la Unión. Ahora les toca a España y al resto de Estados miembros asegurarse de que este compromiso no es en vano.

    Desde el Partido Popular Europeo vamos a seguir luchando para mejorar el apoyo financiero al sector agrícola canario, ahora y más allá de 2027, reafirmando nuestro compromiso con el sector agrario, con el POSEI y con su…

    (el presidente retira la palabra al orador)

     
       


     

      Maria Grapini (S&D). – Domnule președinte, domnule comisar, stabilirea direcțiilor prioritare pentru bugetul pe 2026 este extrem de importantă. De ce? Nu putem să avem bani în perioada următoare mai mulți, dacă nu îi investim acolo unde poate să ne aducă bani mai mulți, și anume în cercetare, în inovare, în IMM-uri, pentru a putea să dezvoltăm locuri de muncă bine plătite.

    Nu putem să avem economie competitivă dacă nu avem oameni bine pregătiți profesional – iată de ce trebuie să avem buget pentru educație –, dacă nu avem oameni sănătoși – iată de ce trebuie să avem bani pentru sănătate – și dacă nu avem oameni bine plătiți. Deci, domnule comisar, spuneați că trebuie să găsim resurse suplimentare. De unde le găsim? Eu cred că le găsim dacă investim bine, dacă investim în coeziune, dacă investim în toate zonele geografice, să nu mai avem zone rămase în urmă. Și da, dacă avem o economie performantă. Dar mai este o problemă, dacă știm să ne apărăm piața internă, pentru că în prezent avem concurență neloială și distrugem locuri de muncă. Prioritățile pentru 2026 ale bugetului sunt extrem de importante și depinde de noi să le facem bine.

     
       

     

      Sebastian Tynkkynen (ECR). – Mr President, the European Union is facing many challenges, both from outside and within our borders.

    If we want to provide a safe and competitive Europe for the next generation, we must change our priorities.

    Our economic competitors are celebrating massive investments into new technologies, while overregulation and high costs keep European companies in a chokehold.

    The numbers don’t lie. Our economic growth has fallen behind. A lot must change.

    It is time to reconsider ideological green goals, and instead shift our full focus towards creating a mighty Europe that allows our businesses to thrive instead of transferring factories to China.

    We have to take these steps if we want to ensure our resilience in times of a crisis.

    And all of my colleagues: look around, the crisis is already here.

    Let’s act accordingly.

     
       

     

      Marc Botenga (The Left). – Monsieur le Président, je vais aborder un élément qui n’a pas été abordé et qui a fait la Une des différents journaux: c’est le fait que, comme chaque année, il y a une augmentation de salaire pour les commissaires européens, et notamment pour la présidente de la Commission européenne, Mme von der Leyen. Je me rappelle que, quand j’ai débarqué ici il y a quelques années, elle était à environ 30 000 euros par mois. Quand je racontais cela aux gens, ils me disaient: «Non?! C’est pas possible?!» Aujourd’hui, apparemment, elle va dépasser les 34 000 euros par mois.

    Cela fait très longtemps que nous, députés du groupe The Left, demandons une réduction de moitié des salaires des commissaires européens, afin qu’ils se rendent un peu compte des priorités des gens. Parce qu’évidemment, cela a une incidence sur les choix budgétaires que nous faisons. Il est facile, après, de dire, quand on gagne autant, que l’on va prendre de l’argent du Fonds de cohésion, destiné aux citoyens européens, pour le donner à l’industrie militaire.

    Ma question, aujourd’hui, c’est: «Y a-t-il un plafond?» Nous en sommes à 34 000 euros par mois pour la présidente de la Commission européenne. Y a-t-il vraiment un plafond? Je pense, chers collègues, que ce plafond, nous devons l’imposer, pour avoir une Europe qui serve les intérêts des gens et non de quelques riches seulement.

     
       

     

      Nina Carberry (PPE). – Mr President, Commissioner, firstly, congratulations to the rapporteur Mr Halicki on a well‑crafted, forward‑looking report.

    The 2026 budget will be a vital tool to strengthen Europe’s agriculture, fisheries, research and education sectors. But it must also rise to the challenge of new and fast‑evolving priorities. To boost its competitiveness, Europe must innovate more and faster. That means greater financial backing for SMEs, simplifying their reporting obligations and lowering barriers to the single market, our greatest asset. I also welcome the clear focus on fighting disinformation, promoting gender equality and investing in healthcare and humanitarian aid. Let’s make sure the 2026 budget delivers for all Europeans.

     
       

     

      Hildegard Bentele (PPE). – Mr President, dear colleagues, we urgently need new guidance in this budget on EU funding for UNRWA, the unique agency for Palestine, which now operates in Gaza without effective international oversight since Israel has cut off contact to UNRWA on the basis of a Parliament’s decision end of January.

    Mr Germain, Madam Gómez López, there is a serious risk that EU-funded humanitarian aid is being diverted to Hamas, an EU-listed terror organisation that has executed the attacks on 7 October, that controls the territory, that has deeply infiltrated local institutions and the education system, and that bluntly denies Israel’s right to exist.

    There is evidence that humanitarian aid intended for the civilian population in Gaza is diverted. Former hostages testified that Hamas captors consumed UNRWA-branded food while they starved. UNRWA facilities have been linked to Hamas tunnels used for hiding escape routes and torture.

    Most importantly, UNRWA has failed to reform. The Colonna report of 2024 clearly states that UNRWA educational materials still include hateful and anti-Semitic content, strongly disregarding the opinion of…

    (The President cut off the speaker)

     
       

     

      Lukas Sieper (NI). – Mr President, dear people of Europe, in a time of war, inflation and political fragmentation, this Parliament is doing something remarkable. We are looking beyond the crisis.

    The 2026 guidelines invest in security and competitiveness, in climate protection, yes, and they also invest in Europe’s soul, because hidden between figures and margins lies a historic promise. The vision of a truly united Europe with funding for enlargement, for neighbourhood stability, for institutional readiness. We are saying to the people of the Balkans, you belong!

    (The speaker spoke in a non-EU language)

    Because we are not whole until our flag shines over Pristina, over Sarajevo and over Tirana. And that’s why, even in dark times, we keep building the light. That’s what this budget says. That’s what Europe stands for.

     
       

     

      Γεώργιος Αυτιάς (PPE). – Κύριε Πρόεδρε, κύριε Επίτροπε, κύριε Serafin, ως Έλληνας ευρωβουλευτής αισθάνομαι ιδιαίτερη χαρά γιατί —εκτός του ότι είστε φίλος της Ελλάδας— συμπεριλάβατε την εισήγηση του κυρίου Halicki και του κυρίου Mureșan —εξαίρετων συναδέλφων— στο να θωρακιστούν τα σύνορα της Ευρώπης. Και γνωρίζετε πολύ καλά ότι και τα ελληνικά σύνορα είναι ευρωπαϊκά, και ότι έζησε η Ευρώπη εκείνη τη δύσκολη νύχτα στον φράχτη του Αιγαίου απίστευτες καταστάσεις. Με απόλυτη σαφήνεια, ο κύριος Halicki, ο κύριος Mureșan και ο κύριος Ressler έδωσαν μεγάλη μάχη για τις φυσικές καταστροφές, ώστε γρήγορα να έρχονται οι αποζημιώσεις. Kαι το τρίτο και καλύτερο: μέτρα για τις κοινωνίες. Να στηρίξουμε τις κοινωνίες που μας έφεραν εδώ με μέτρα για τη στέγαση, για μισθούς, για συντάξεις, για πρόνοια, όπως ακριβώς είπαν. Και να ξέρετε κάτι: οι λαοί μας δεν θα ξεχάσουν ποτέ αυτήν την προσφορά.

     
       


       

    (End of catch-the-eye procedure)

     
       


     

      Piotr Serafin, Member of the Commission. – Mr President, I believe that this debate confirms that the guidelines prepared by the rapporteur are a balanced document which can count on a broad support in this House, which is, to be frank, also a good news from the perspective of the Commission, because, as it has been stated by a few of the speakers, at the current moment, full of uncertainties and chaos, the European Union and also the European Parliament should contribute to the stability and predictability.

    The successful adoption of the guidelines and later on of the annual budget could be an important factor, passing the message also to the Europeans that we provide the stability and predictability in those difficult times.

    What I will take also from this debate is that indeed there is a need to look for the balance. Defence and security are going to play an important role in the years to come, but we should not forget – and that is what the guidelines also remember – that we are not going to have defence and security without a strong and competitive economy.

    And what is also reflected in those guidelines is that we need not only defence and security, not only competitiveness, but we cannot forget also about the cohesion of the Union and about the need to provide food security. And these are the elements that we should keep in mind, and we will keep it in mind. And I can assure you, on behalf of the Commission, that we will play our role in ensuring the successful negotiations of the budget for 2026.

     
       

     

      Andrzej Halicki, rapporteur. – Mr President, colleagues, thank you very much. All colleagues really engaged in the process.

    I would like to emphasise that, first of all, to have the strong position of the Parliament, we have to have the text. And of course, I’m also listening to your remarks. All the opinions are very important. I would like to protect this balanced text because this is the effect of the teamwork based on – I can say generally – five political groups together. So, it is good to have the majority on Wednesday.

    And, of course, we still have 93 amendments. So, from different point of views, we can improve the text. But in this moment, I would like to ask you, and also say very openly, even one better amendment adopted from one side can spoil the whole process we achieved during the negotiations. And we have to be very careful because we are living in very tough times.

    And the question concerning security: yes, of course this is the priority number one. But to achieve the result, we have to have our common strong position. And without these guidelines, our position will be weaker. So having in mind that the negotiations are just starting, I would like to ask you for responsibility and understanding.

    Thank you very much once again for the teamwork and the tough work which was done, also with your assistance together during last months. Thank you and see you on Wednesday.

     
       

     

      President. – Thank you very much, Andrzej. We keep our fingers crossed for your report.

    The debate is closed.

     

    13. Savings and investments union (debate)


     

      Maria Luís Albuquerque, Member of the Commission. – Mr President, honourable Members, thank you for the opportunity to join you today to outline the main elements of the savings and investments union. The EU has major investment needs, and the world around us is changing dramatically. Furthermore, our economy is underperforming, so we cannot afford to maintain this status quo.

    At the same time, the EU has enormous potential and the means to secure its economic future. If we fail to act, if we do not respond urgently and collectively to the threats and changes around us, we risk letting our citizens down and losing our place as a leading global voice.

    I have seen unprecedented political attention on SIU and this is welcomed. We need to keep the momentum going. My vision for a successful SIU is one where: households have more opportunities to build wealth and save for the big events in life; there is a faster growing economy with more and better jobs; and there are enough funds flowing for our companies, especially those which are critical for our strategic priorities.

    To ensure we succeed, we must act swiftly and decisively. We must see real change in the overall single market, but also in individual Member State markets. And most importantly, we must put our citizens first. By prioritising household wealth creation, we can bring new opportunities and spark a wave of economic growth across Europe.

    We cannot do this alone: EU institutions, Member States, the private sector and civil society need to work together. It’s a shared responsibility. The SIU is an enabler to finance our common priorities as outlined in the Competitiveness Compass and will mainstream simplification, burden reduction and digitalisation.

    The communication the Commission adopted on 19 March sets the SIU over four strands. First, citizens and savings. Currently, our citizens hold too much of their savings in deposits. These are liquid and safe and help finance the European economy through banks, but they also yield limited returns. Citizens could get higher returns by investing in capital markets. However, those who invest often find it easier to do it in foreign markets. This means that our businesses have fewer European financing options. Our savers lack EU investment opportunities, and our businesses struggle to access the capital they need.

    We must fix this mismatch. We will take action to make investing in the EU easier and more beneficial for those who want to invest and choose to do it. The savings and investments account will help in that regard.

    We will also work in the area of supplementary pensions, examining the Directive on institutions for occupational retirement pensions, the Regulation on the pan-European personal pension product. Furthermore, we will work on pension dashboards and pension tracking based on best practices. We will further issue recommendations on auto‑enrolment.

    Second, investment and financing. More diversified sources of finance, including cross-border help to companies of all types and sizes to grow and create jobs. We will therefore take measures to stimulate equity investments by institutional investors. We will also explore ways to leverage on publicly financed projects by the EIB Group or promotional banks, to attract private money into strategic projects. Moreover, we will revise the legislation on European venture capital funds and we will review the EU rules on securitisation. Differences in national taxation procedures can create administrative burden and barriers, so this is also something that we will address.

    On integration in scale, too often European firms cannot profit from the scale and synergies of the single market because it remains fragmented. This is a huge competitive disadvantage for the EU. We will therefore present proposals to remove barriers to cross-border operations of market infrastructures, asset management and distribution of funds. This will enable market participants to grow efficiently across the EU and to lower costs of financial services for businesses and citizens.

    Fourth, efficient supervision in the single market. We also need strong supervision. All market participants must be treated the same way, no matter where they are located in the EU. We need the European supervisory authorities to reinforce supervisory convergence and to identify and dismantle divergent national practices. We will present proposals to achieve a more unified supervision, including by transferring certain supervisory tasks to EU supervisors.

    And finally, on banking. Europe’s capital and banking markets are deeply connected, and the savings and investments union recognises just that, but linking the two closely, capital and banking markets. However, Europe’s banking sector also remains deeply fragmented. We need large and diversified banks at the single market scale, not just at national scale. I intend to encourage banks to make better use of the single market and call on all stakeholders to support the completion of the banking union. I am now looking forward to this debate.

     
       

     

      Markus Ferber, im Namen der PPE-Fraktion. – Herr Präsident, Frau Kommissarin, liebe Kolleginnen, liebe Kollegen! Europa steht vor großen Herausforderungen. Hohe Investitionen müssen in Verteidigung, in Digitalisierung, für den Klimaschutz getätigt werden. Gleichzeitig haben wir geopolitische Spannungen, die auf unsere Wirtschaft drücken, und die öffentlichen Kassen sind weitgehend leer. Deswegen wird die Aktivierung von privatem Kapital immer wichtiger, und ich glaube, das ist der richtige Zeitpunkt, dieses Thema zu adressieren.

    Wir brauchen eine tiefere Integration der europäischen Kapitalmärkte. Wenn wir eine leistungsfähige europäische Wirtschaft wollen, dann brauchen wir auch leistungsfähige europäische Kapitalmärkte. Es darf nicht sein, dass europäische Unternehmen für Aktiengänge lieber nach New York gehen. Es kann nicht sein, dass europäische Unternehmen, wenn sie Geld auf dem Kapitalmarkt aufnehmen, lieber nach London gehen, und dass für europäische Sparer die attraktivsten Angebote auch auf der anderen Seite des Atlantiks liegen. Eine wirkliche Spar‑ und Investitionsunion zu schaffen, ist nicht nur dafür entscheidend, unseren Wohlstand zu sichern, es ist auch eine geostrategische Frage.

    Die Notwendigkeit für eine tiefere Integration der europäischen Kapitalmärkte sollte deswegen eigentlich jedem klar sein; trotzdem treten wir seit zehn Jahren auf der Stelle. Die Probleme sind hinlänglich bekannt: Steuersysteme harmonisieren, beim Insolvenzrecht vorankommen, besser abgestimmte europäische Finanzaufsicht, um nur ein paar wenige Stichworte zu benennen.

    Wir haben kein Erkenntnisdefizit, wir haben ein Handlungsdefizit, und es sind die, die nicht da sind – die Mitgliedstaaten –, die bisher alles ausgebremst haben: Jede Initiative wurde von den Mitgliedstaaten blockiert. Es ist traurig zu sehen, dass auch heute niemand von den Mitgliedstaaten hier im Plenum des Europäischen Parlaments ist.

    Die Kommission hat einen richtigen Impuls gegeben. Wir sind bereit, das zu unterstützen – ich hoffe, der Rat auch.

     
       


     

      Aurore Lalucq, au nom du groupe S&D. – Monsieur le Président, Madame la Commissaire, chers collègues, notre épargne finance aujourd’hui les États-Unis. Trois cents milliards d’euros par an: telle est notre participation au financement de l’économie d’un gouvernement qui n’est malheureusement plus notre allié, qui cherche à étouffer notre agriculture, notre viticulture ou encore notre industrie à travers des droits de douane aussi arbitraires qu’injustes.

    Combien de temps allons-nous encore être assez bêtes pour financer l’économie du gouvernement Trump? Rapatrier notre épargne est évidemment un enjeu économique – vous l’avez parfaitement dit, Madame la Commissaire – car elle pourrait nous aider à investir dans l’industrie, le réarmement ou la transition écologique, à un moment où l’Europe vit au-dessous de ses moyens.

    C’est aujourd’hui, surtout, un enjeu politique. Aussi soutenons-nous pleinement le projet de la Commission européenne, avec peut-être quelques nuances – pour ma part, j’estime que la question de la titrisation est hors-sujet. Nous pouvons peut-être aller plus loin en demandant aux gestionnaires d’actifs d’investir un minimum dans l’Union européenne.

    Je partage la conclusion de M. Ferber: il est temps que les États membres arrêtent de bloquer ce projet, et leur absence aujourd’hui est assez significative.

     
       

     

      Enikő Győri, a PfE képviselőcsoport nevében. – Tisztelt Elnök Úr! Brüsszel hibás gazdaságpolitikájának kiigazításához az első lépés a versenyképesség javítása. Ehhez pedig beruházásra van szükség, de nem hitelből. Patriótaként nem fogjuk hagyni, hogy adósságba rángassák a jövő nemzedékeit.

    A tőkepiac mélyítése és a magántőke mozgósítása jó irány. Az állampolgárok és a vállalkozások számára is könnyen hozzáférhetővé kell tenni a tőkepiacot ‑ ahogy az a budapesti nyilatkozatban is szerepel.

    De néhány megjegyzés: az első, hogy Európa kockázatvállalási kedve sosem lesz akkora, mint Amerikáé. Teljes kulturális váltást szorgalmazni illúzió, ehelyett üzletbarát környezetet kell kialakítani itt, ami itt tartja és mozgósítja a megtakarításokat. Kevesebb és észszerűbb szabály: ez a kulcs. A második, hogy a közös tőkepiac minden tagállam számára fontos, hogy azonos lehetőségeket biztosítson. A harmadik: a megtakarítások és a beruházások összekapcsolását a piacra kell bízni, politika és ideológia nélkül.

    A Bizottság ne akarjon diktálni, építsen a tagállami jó gyakorlatokra és véleményekre. Ne központosítson, hanem szinergiára törekedjen. Tartsa tiszteletben a tagállami hatásköröket, különösen felügyeleti és adózási kérdésekben. Mi, patrióták továbbra is a piac igényein alapuló, igazságos üzleti környezetért fogunk küzdeni.

     
       

     

      Giovanni Crosetto, a nome del gruppo ECR. – Signor Presidente, signora Commissaria, onorevoli colleghi, le ragioni che ci spingono ad accelerare sull’Unione del risparmio e degli investimenti le conosciamo: abbiamo una propensione al risparmio nell’eurozona più che doppia rispetto a quella degli Stati Uniti.

    Di questo risparmio soltanto il 30 % viene investito, mentre il 70 % rimane sui conti correnti, anche per via del nostro sistema bancocentrico, che vede i finanziamenti arrivare per il 70 % dalle banche e solo per il 30 % dai mercati.

    Dovremmo però, Commissaria, iniziare a parlare di alcune soluzioni, come ad esempio la modifica del trattamento prudenziale degli investimenti bancari nell’equity delle banche, o come la modifica dei requisiti di capitale che ostacola tutto il mondo e il settore delle cartolarizzazioni.

    Oppure, anche, come la modifica delle aspettative della vigilanza che, se non verranno allineate con il nuovo pacchetto omnibus, non consentiranno al settore finanziario di valutare le esposizioni delle imprese ai rischi del cambiamento climatico; o, infine, come la modifica – o sarebbe meglio dire eliminazione – di feeder.

    Lei, Commissaria, sa che domani inizia un trilogo importante perché, così come è scritto, consentirebbe ai paesi terzi di accedere ai nostri dati finanziari, senza tra l’altro la reciprocità, compromettendo fortemente la nostra competitività.

    Se vogliamo ottenere la competitività e completare l’Unione del risparmio e degli investimenti, noi dovremmo cercare di ridurre, se non eliminare, tutte quelle regolamentazioni che sono eccessive, se non dannose.

     
       


     

      Damian Boeselager, on behalf of the Verts/ALE Group. – Mr President, thank you, Commissioner, for the presentation of the report. I have to say, these are not normal times. In normal times, maybe it would have been fine to propose a patchwork of ideas on how we can become a bit more unified in our financial markets.

    But we have seen a situation where European competitiveness is at risk with the tariffs that come from the US. We have also seen a situation where still the S&P 500 has seen a 5 % decline year to date since January, and indices like the DAX are actually improving by around 15 %.

    So, we have a huge potential now to really build European competitiveness. But for that, we cannot just do a little patchwork of ideas, but we have to do an actual Union. We have to do something that is worth being called a Union.

    For that we need two things: we need national leaders to change how they decide about European fiscal and financial rules – and this is something that also ECB President Lagarde has asked for this morning, we need to wake up, we need fundamental change – and we need more investment in our innovation capacity. And here in this proposal I do see too little of that.

     
       

     

      Gaetano Pedulla’, a nome del gruppo The Left. – Signor Presidente, signora Commissaria, onorevoli colleghi, l’Unione dei risparmi e degli investimenti, al di là del titolo del progetto, pure condivisibile, nasconde un pericolo fortissimo per i cittadini europei.

    Per aumentare l’equity necessario agli investimenti industriali, compresi quelli più incerti, start-up e piccole imprese, si semplifica la possibilità di impiegare le grandi masse monetarie collocate dai risparmiatori nei depositi bancari, spostando così il rischio di tali investimenti dal sistema finanziario al mercato del risparmio.

    Un mercato che vale 10 trilioni di euro, frutto del lavoro e dei sacrifici dei cittadini: soldi che la Commissione dovrebbe considerare sacri.

    Nei giorni scorsi ci siamo confrontati in commissione ECON con la Presidente Lagarde, che ha assicurato un elevato sistema di controllo da parte della Banca centrale europea, ma, nell’attuale contesto geopolitico ed economico, è inaccettabile più che mai scaricare nuovi rischi sui risparmiatori. A maggior ragione se gli obiettivi di questa iniziativa puntano ad aumentare la competitività del sistema europeo, usando più tra tutte la leva del riarmo e dell’industria militare.

    In questo modo la vostra Commissione avrà ingannato due volte i risparmiatori: la prima, mettendo a maggior rischio i loro investimenti; la seconda, amplificando a loro insaputa il finanziamento di una pericolosa economia di guerra.

    E per la mia parte politica, il Movimento 5 Stelle, è inammissibile che persino le nuove norme per i risparmiatori rischino di finanziare la guerra.

     
       

     

      Isabel Benjumea Benjumea (PPE). – Señor presidente, señora comisaria, se estima que, en la Unión Europea, el 70 % de los ahorros están en las cuentas bancarias y, en los Estados Unidos, al revés, el 70 % de los ahorros están invertidos en los mercados de capitales. Además, lo estamos oyendo aquí: los emprendedores europeos no encuentran la financiación para poner en marcha sus proyectos o para hacerlos crecer. Y un número muy importante se va fuera de la Unión Europea, en gran parte a los Estados Unidos.

    Tenemos un Consejo que no nos permite avanzar, un Consejo que es incapaz de dar una solución a este problema. Tenemos una Comisión que ofrece una propuesta —que ha detallado muy bien la comisaria— de una hoja de ruta sobre cómo de verdad conseguir que en la Unión Europea se quiten las barreras y se consiga tanto atraer inversión como que la inversión fluya entre los Estados miembros. Pero no hay voluntad política por parte del Consejo. Y hay que denunciarlo.

    Fui la ponente del informe sobre la unión de los mercados de capitales hace cuatro años y, en mi intervención cuando votamos ese informe, alcé mi voz en nombre de este Parlamento pidiendo que hubiera ambición política por parte también de la Comisión, pero principalmente del Consejo, para avanzar.

    La situación cuatro años después no ha cambiado por parte del Consejo y es lamentable que no estén aquí hoy, como ha dicho mi compañero Marcus Ferber. Y es lamentable escuchar ahora que proponen que haya dos velocidades para conseguir estos objetivos. No podemos perder el tiempo y necesitamos reaccionar ya.

     
       

     

      Eero Heinäluoma (S&D). – Mr President, the lack of a real internal market for financial services equals a tariff of more than 100 %, as calculated by the IMF. This is a tariff we Europeans put on ourselves. It makes the EU citizens remain champions in sticking to savings with low returns.

    To turn this around, we need three main changes: firstly, CMU, SIU, the name does not matter. What matters are real structural changes. We cannot stick to the status quo out of fear for change. Structural deficiencies in the system need to be addressed properly and not paid off by promising tax incentives.

    Secondly, to increase trust in the system, let’s stop producing underperforming products, let’s stop selling promo talks for advice, and let’s stop charging unsustainable inducements.

    Finally, more trust is needed and there is also room for risk‑taking for consumers if there is transparency and financial literacy.

    Only if we make these changes, the SIU can become a success and turn the EU savers into EU investors.

     
       


     

      Ľudovít Ódor (Renew). – Mr President, Commissioner, the diagnosis is clear. Europe has a lot of savings on the one hand, and the desperate need for investments on the other. And there is no functional bridge between the two sides. Deep and liquid capital markets, more risk‑taking and equity investments are absolutely necessary to harness the full potential of an economy with 450 million people.

    Attempts to create a capital market union have yet failed. What will be different with the new acronym SIU? Two things come to my mind.

    The first one is the perspective. Capital market union is a very technical term with no appeal to citizens, businesses or entrepreneurs. Savings and investments are more understandable, but focus on citizens’ financial wealth and financing Europe’s global competitiveness is an even better alternative.

    Second, urgency. In times of gloomy global outlooks, trade wars and protectionism, Europe needs to mobilise all its internal sources of growth. In my view, compared to the current plan, we should be even more ambitious and we should work all together.

     
       

     

      Λευτέρης Νικολάου-Αλαβάνος (NI). – Κύριε Πρόεδρε, αυτή η Ένωση στοχεύει στην αρπαγή αποταμιεύσεων του λαού, συνταξιοδοτικών ταμείων, για το φαραωνικό σχέδιο των οκτακοσίων και πλέον δισεκατομμυρίων της πολεμικής οικονομίας και τη στήριξη της ανταγωνιστικότητας ευρωενωσιακών ομίλων απέναντι στην Κίνα και στη Ρωσία, αλλά και στις ΗΠΑ.

    Η ιστορία επαναλαμβάνεται. Ο ιδρώτας και οι κόποι των εργαζομένων γίνονται προσάναμμα για να τραβήξουν κεφάλαια που δεν ενεργοποιήθηκαν στην πράσινη και την ψηφιακή μετάβαση, και η Ευρωπαϊκή Ένωση επιδιώκει να αξιοποιηθούν μπροστά στη διαφαινόμενη καπιταλιστική κρίση, κλιμακώνοντας την πολεμική προετοιμασία. Οι λαοί έχουν σκληρή πείρα από τα ευρωενωσιακά μέτρα που σήμερα παίρνουν τη μορφή «περισσότερα όπλα, χαμηλότεροι μισθοί, χαμηλότερες συντάξεις», όπως υπογράμμισε ο επικεφαλής του ΝΑΤΟ.

    Οι εργαζόμενοι έχουν χρέος να δυναμώσουν την πάλη τους ενάντια στα σχέδια που ενισχύουν τους λίγους και τα μεγάλα συμφέροντα, εκτοξεύουν την εκμετάλλευση και τσαλαπατούν το εισόδημα και τα κοινωνικά δικαιώματά τους. Να αγωνιστούν με γνώμονα τις δικές τους σύγχρονες ανάγκες, κόντρα στην πολεμοκάπηλη και επικίνδυνη στρατηγική της Ευρωπαϊκής Ένωσης, των μονοπωλίων και των αστικών κυβερνήσεων.

     
       

     

      Lídia Pereira (PPE). – Senhor Presidente, Senhora Comissária, começava esta intervenção apenas lamentando a falta de comparência do Conselho, aqui nesta Câmara, para debater um assunto tão importante como a União de Mercados de Capitais, a União da Poupança e dos Investimentos. Tenho a certeza de que, se fosse um debate sobre defesa, teríamos aqui a representação necessária e este é também um dos temas que será central, um pilar essencial no investimento que devemos fazer em defesa.

    Mas a proposta que hoje discutimos é mesmo a União da Poupança e dos Investimentos, é bem-vinda e responde a um cenário que não podemos ignorar.

    As poupanças dos europeus fogem da Europa para outros países no mundo.

    As nossas empresas – sobretudo as startups – têm de procurar financiamento fora de portas para conseguirem crescer.

    E a fuga de capitais é acompanhada, muitas vezes, pela fuga de cérebros.

    E, portanto, é prioritário travar esta fuga e atrair mais investimento, com mais inovação e mais oportunidades.

    E como é que fazemos isso?

    Primeiro: terminar o processo de integração bancária, assegurando mais proteção para os consumidores.

    Segundo: harmonizar regras para criar um verdadeiro mercado europeu de capitais, um mercado onde seja fácil a qualquer pessoa aforrar ou investir, com supervisão europeia transparente e eficaz, com menos burocracia e menos dificuldades no acesso ao capital.

    E terceiro: com uma aposta decisiva na literacia financeira. As pessoas, os europeus, para utilizarem o mercado de capitais têm de o compreender. Para que cada um acredite e confie nesse mercado, apenas com mais preparação e com mais informação teremos mais capital disponível para investir nas empresas europeias e mais dinheiro no bolso das famílias.

    E para terminar, Senhora Comissária, apoiamos a União da Poupança e dos Investimentos e estamos preparados para trabalhar e torná-la uma realidade.

    (A oradora aceita responder a uma pergunta «cartão azul»)

     
       

     

      João Oliveira (The Left), Pergunta segundo o procedimento «cartão azul». – Senhor Presidente, Senhora Deputada Lídia Pereira, os planos da Comissão nesta matéria são planos perigosos e a Senhora Deputada, de resto, não fez referência a um dos aspetos mais perigosos destes planos e é precisamente sobre isso que lhe quero fazer várias perguntas, que têm que ver com a mobilização de recursos para financiar a economia a partir dos sistemas públicos de Segurança Social, favorecendo o negócio dos sistemas privados de pensões à custa dos sistemas públicos de Segurança Social, não apenas com a utilização dessas verbas, mas, naturalmente, com a criação de um campo de negócio nessa área.

    E a pergunta que lhe faço é esta, Senhora Deputada: considerando os escândalos das falências de fundos de pensões privados pelo mundo inteiro e dos prejuízos para os trabalhadores, a Senhora Deputada acha mesmo que este é um caminho seguro para garantir os direitos dos trabalhadores?

     
       

     

      Lídia Pereira (PPE), Resposta segundo o procedimento «cartão azul». – Senhor Deputado, agradeço-lhe a pergunta e digo-lhe que aquilo que acho verdadeiramente perigoso é que, daqui por umas décadas, o modelo social europeu esteja em causa e que não seja possível pagar as pensões a pessoas da minha geração, da nossa geração.

    E, para isso, esta União da Poupança e dos Investimentos é tão necessária.

    Temos de encontrar formas alternativas de financiamento dos sistemas de Segurança Social e, para garantirmos a sustentabilidade dos sistemas de Segurança Social, este tema, este debate é central para garantirmos que as novas gerações têm um futuro na sua reforma.

     
       


     

      Angéline Furet (PfE). – Monsieur le Président, chers collègues, l’union de l’épargne et des investissements, sous des airs technocratiques de bon sens économique, cache en réalité un projet de dépossession de notre souveraineté financière, de notre modèle social et de la maîtrise de notre épargne.

    Ce projet, porté par Bruxelles, impose des transferts massifs de compétence en matière de fiscalité, de régulation et même de financement des secteurs stratégiques. Le plan d’épargne retraite paneuropéen, par exemple, menace frontalement notre assurance-vie et notre PER, piliers de l’épargne populaire française. Pendant que l’on promet aux PME un accès facilité au capital, ce sont surtout les investisseurs étrangers qui, demain, dicteront leurs conditions, au détriment de notre tissu productif local. Quant à nos territoires ruraux, ils risquent une fois de plus d’être laissés pour compte.

    Le Rassemblement national dit non à cette Europe technocratique et oui à une Europe des nations libres, maîtresses de leur destin financier. Nous exigeons un référendum sur toute avancée concernant ce projet.

     
       

     

      Gilles Boyer (Renew). – Monsieur le Président, Madame la Commissaire, les rapports dont nous disposons – ceux de MM. Draghi, Letta et Noyer – proposent tous des mesures concrètes pour bâtir une véritable union de l’épargne et des investissements, une véritable union des marchés de capitaux, pour financer nos transitions écologique et numérique ainsi que notre défense européenne, mais aussi pour renforcer notre autonomie stratégique.

    Pourtant, dès qu’il s’agit de finaliser l’union bancaire ou de renforcer la supervision européenne, les résistances nationales refont surface et ralentissent les avancées. Nous sommes donc nombreux à attendre des propositions fortes de la part de la Commission concernant l’union de l’épargne et des investissements, à commencer par la révision des règles de titrisation, en vue de créer un levier de financement supplémentaire au service de nos priorités politiques. Ces propositions fortes, Madame la Commissaire, nous serons ici nombreux à les accompagner.

     
       



       

    Catch-the-eye procedure

     
       

     

      Ralf Seekatz (PPE). – Herr Präsident! Wenn 70 % der Ersparnisse auf Sparkonten liegen, haben wir sehr viel ungenutztes Potenzial, das unseren Bürgern und unserer Wirtschaft zugutekommen könnte. Private Spareinlagen sollten in innovative europäische Unternehmen fließen, vor allen Dingen auch in die KMU, in die kleinen und mittleren Unternehmen, die das Rückgrat unserer Wirtschaft sind. Ein besserer Verbriefungsmarkt oder ein europäisches Sparprodukt könnten zur Vertiefung der Kapitalmärkte beitragen.

    Daher brauchen wir auch die Kleinanlegerstrategie. Nur wenn Anleger auch Vertrauen in die Kapitalmärkte haben, können wir das dringend notwendige Kapital für unseren erheblichen Investitionsbedarf auch erschließen. Es ist nicht gut, dass die Kommission überlegt, die Kleinanlegerstrategie zurückzuziehen, obwohl wir auf einem guten Weg sind.

    Die SIU ist ein wichtiger Schritt. Wir brauchen mehr Anreize, und wir brauchen einen Plan, wenn wir international weiter wettbewerbsfähig sein wollen.

     
       

     

      Maria Grapini (S&D). – Domnule președinte, doamnă comisară, stimați colegi, n-am reușit să facem piața de capital și rebotezăm acum. Ați venit cu o nouă denumire, foarte prost explicată. Știți, doamnă comisară, și ați auzit și aici, în țara mea, oamenii deja se tem, vor să-și ia banii din bancă, pentru că ei au înțeles că da, Comisia Europeană le ia banii pentru investiții, banii privați.

    Doamnă comisară, în primul rând trebuie să clădiți încredere. Un cetățean, un întreprinzător – și vin din lumea lor, de acolo, din lumea afacerilor – investește dacă are încredere. Trebuie să clădim această încredere, să facem investiții în Uniunea Europeană, să nu scoatem banii să-i ducem în alte state, să nu plece cetățeni bine instruiți în altă parte.

    Așadar, acest proiect nu poate să fie clădit decât dacă comunicați bine, explicați bine proiectul și atât cetățeanul, cât și întreprinzătorii vor veni cu banii privați în proiecte strategice. Altfel, va fi din nou un eșec și nu realizăm ceea ce ne dorim de fapt: să avem o politică comună în piața de capital, să putem să avem legi comune pentru tot ce se întâmplă în domeniul fiscal, să avem o impozitare comparabilă în statele membre, pentru că avem o piață internă, dar totul pleacă de la încredere, doamna comisară. S-a comunicat extrem de prost acest proiect. Toată lumea se teme și nu știe cum să-și protejeze acum banii privați, fie ei la cetățean sau la întreprinzători.

     
       

       

    IN THE CHAIR: CHRISTEL SCHALDEMOSE
    Vice-President

     
       


     

      João Oliveira (The Left). – Senhora Presidente, Senhora Comissária Maria Luís Albuquerque, a concentração bancária em megabancos não serve os interesses dos depositantes, tal como a privatização ou a destruição da Segurança Social pública não serve os interesses dos trabalhadores.

    A Segurança Social pública é uma garantia para os trabalhadores quanto à sua proteção social, incluindo quanto às suas pensões atuais e futuras. É preciso defendê-la, reforçá-la, incluindo financeiramente.

    Favorecer o negócio dos fundos privados de pensões, fragilizando a Segurança Social pública, deixa os trabalhadores e os pensionistas desprotegidos. Permitir que o dinheiro da Segurança Social possa ser lançado na roleta da especulação dos fundos de pensões é o mesmo que destapar um ralo por onde se vai escoar o dinheiro das futuras pensões.

    Veja-se o que tem acontecido em sucessivas falências de fundos privados de pensões por todo o mundo.

    O futuro constrói-se com o reforço da Segurança Social pública e não com a sua destruição ou privatização.

     
       


     

      Michał Szczerba (PPE). – Pani Przewodnicząca! Pani Komisarz! Polska prezydencja promuje bezpieczeństwo, również bezpieczeństwo w wymiarze inwestowania. Unia, którą Pani Komisarz zaprezentowała, te rozwiązania, te priorytety przede wszystkim dają bezpieczeństwo inwestowania, inwestowania z oszczędności, często z oszczędności, które pochodzą z dorobku i pracy całego życia.

    Stąd też tak bardzo ważny jest również nadzór nad rynkiem kapitałowym. Umożliwi on również mniejsze ryzyko, ale z drugiej strony pozwoli na inwestowanie środków w najbardziej potrzebne sektory. I takim sektorem, który ja dostrzegam, są innowacje, ale również bardzo ważnym sektorem, na który zwraca uwagę polska prezydencja – są kwestie obronne. To są również potencjalnie duże wpływy dla funduszy emerytalnych. One się również przełożą na wyższe emerytury dla Europejczyków.

     
       

       

    (End of catch-the-eye procedure)

     
       

     

      Maria Luís Albuquerque, Member of the Commission. – Madam President, honourable Members. I will try for this closing to touch on the topics that you have raised.

    First, I’d like to say that I felt there is significant support for the savings and investments union, and I would like to again explain that the SIU is not a rebranding of the CMU. We are talking of a broader project. The savings and investments union has the citizens at its core. We are trying to help our citizens make the best of our savings.

    At the same time, we are working to get the necessary investment into our economy because if our companies get the funding they need to grow and be more competitive, then they will create better jobs and they will have better pay, which will again benefit the citizens.

    By leaving most of their savings in bank accounts, inflation will eat up the value, so those hard earned savings will, when they need the money, actually buy much less than they do today. This is something that we should not lead our citizens to do. We do want them to have higher returns.

    It’s true that it is about trust in the markets and we do know that there were unfortunately too many events where people did lose money in the markets. But that is why we have a reinforced supervision and that is why we will also continue to work on that to guarantee the quality and the delivery of our supervision. For that, as was also mentioned here, financial literacy is key. For that I would appeal to the Members of this House to support us in that effort.

    It is not helpful to say that capital markets are gambling. It is not helpful to say that we are taking money out of people’s accounts. It is not helpful to say that we are robbing people because none of that is true and that is not helping people to make the best decisions for themselves, which is the goal of this project.

    We are talking about using capital markets to direct savings into investments. Investments are necessary in our economy, in the priorities, but it will be people’s decisions. The Commission will not force private money into anything in particular. We will try to take the barriers out of the market to foster investment and people will put their money where the business case is. We are not going to tell people where to put their money and obviously the Commission does not intend – would never – take the money out of people’s accounts against their will. We will give them better opportunities, that’s the intention.

    When it comes to pensions and the pension system, we know the demographic trend in Europe is very negative and that is why we worry about pension systems. That is why we worry that public pensions alone may not be able to guarantee our pensions going forward. I’m not talking about me, I’m close enough to the retirement age. I’m talking about the younger generations that actually need us to take the right decisions, to make sure that they will have pensions.

    And we also need, obviously, to have innovation, to allow innovation to come into our market, to allow existing incumbent entities to be more open to competition, to be more open to innovation, so that better services at better costs can be provided. When we worry about our strategic autonomy, about the fact that our savings are going abroad, we need to guarantee here in Europe the same things that attract our money elsewhere. We need a big capital market with scale, with liquidity, with efficiency. We need to address the issues that have been so detrimental for investing in Europe.

    This is what the savings and investments union is about. It’s a strategic enabler to be deployed across the economy. It’s to the benefit of all and it does have the citizens at its core. That is our main concern: for us to have efficient capital markets that can give people the best possible yield and return for their savings.

    But we also obviously need to get the support of everyone. As I said in my introductory remarks, this is a shared responsibility. It is up to the Commission to put the proposals on the table; it is up to the Parliament, you represent the people, to be there to discuss with us and to support this project; and it’s obviously also up to the Council to support this project and to understand that we are facing different times.

    We are no longer competing against each other, we are competing against external jurisdictions. It’s only by staying together and sticking together that we actually have a chance to succeed and to give our citizens what they really deserve, because we should never forget – and maybe we don’t say it enough – that it is all about our citizens. That’s why you are here, that’s why the Commission is what it is: to deliver the best future for our citizens.

     
       

     

      President. – The debate is closed.

     

    14. Composition of committees and delegations

     

      President. – I have an announcement. The non-attached Members have notified the President of decisions relating to changes to appointments within committees and delegations.

    These decisions will be set out in the minutes of today’s sitting and take effect on the date of this announcement.

     

    15. European Cultural Compass as a driving force for economic competitiveness and resilience (debate)


     

      Glenn Micallef, Member of the Commission. – Madam President, honourable Members, my aim is to deliver a cultural compass for Europe in 2025, a meaningful and new strategy that we’ll shape together. A bold and ambitious political initiative, empowering culture and creativity, enabling healthy democracies and open societies, strengthening Europe’s security, Europe’s preparedness and our democratic values. And unlocking the potential of the EU’s cultural and creative sectors to adapt, to innovate and to drive Europe’s competitiveness and societal resilience.

    Ladies and gentlemen, the European Union is a global cultural powerhouse, a global actor promoting worldwide the role of culture and mutual understanding. Culture shapes how people perceive the world. It is Europe’s beating heart, our lifeblood, bridging divides and uniting us, reinforcing our democratic principles, and empowering our regions and our communities.

    But the cultural and creative industries also employ 8.7 million people in the European Union. That is almost as many as there are people employed by the agricultural sector, from music to performing arts, books to publishing museums, theatres and libraries, architecture and design, among others. These represent more than 2 million cultural enterprises in Europe, and they generate annually around EUR 200 billion in value added to our business economy.

    Then there are our initiatives, like the European Capitals of Culture. They need no introduction or no explanation on their value added or their contributions to our societies and our economies. Their positive effects speak for themselves. But beyond all these numbers, culture is also indispensable to our well-being and our quality of life. With a strong positive impact on our health. It is an integral part of our European way of life.

    However, honourable Members, we live in a time of profound transformations. This is a pivotal moment for our European Union and especially for our democracies. Artistic and cultural freedoms are increasingly under attack. Geopolitical tensions and conflicts continue to grow. Disinformation and foreign interference threaten to pull us apart. Economic and geographic inequalities need our urgent attention, and Europe’s competitive edge has continued to slip. This calls for fresh innovation to boost inclusive growth, but also to secure our sustainable prosperity, to create wealth, to create employment and further prosperity. And to step up our efforts to address global and societal challenges like climate change.

    In all this, the cultural sector has a strong role to play in these societal transformations. A pivotal role to play. But for that to happen, the right conditions need to be in place.

    First, artistic freedom remains the essential precondition for the creation and enjoyment of our culture. Fundamental principles and core values, such as the freedom of artistic expression and creation, will guide the cultural compass.

    Second, there can be no art or culture without people. This is a strategic investment in our democracy and in our values culture must pay the rent. Improving living and working conditions for professionals working in the arts and cultural and creative sectors is an investment in people, ensuring they can make a good livelihood and safeguarding the future of culture itself.

    Third, arts and culture are also important players and strongly impacted by other major, overarching societal transformations like the global race for technology and artificial intelligence. This comes with both opportunities and disruptions. We must follow these developments closely to ensure that our cultural and creative sectors are empowered, especially by securing fair remuneration and safeguarding of their rights.

    This context calls for joining forces to shape a holistic strategic response together to harness the power of the arts, culture and cultural heritage, to foster innovation, to foster economic prosperity, to foster social cohesion and to foster regional development. What we need is a paradigm shift, one that places culture at the centre of EU policymaking across different sectors and industries, from competitiveness to defence, security and resilience, from regional and health policy to the rule of law.

    In this respect, ladies and gentlemen, two weeks ago I launched a consultation process on the cultural compass. Together the views and experiences of Europe’s artists, cultural workers and creatives. I was pleased to see the engagement of the European Parliament and the Polish Presidency of the Council. And I was truly encouraged to see the sector’s strong support outlining our shared objectives for this initiative. The message was clear we need a European culture compass, starting with a structured and strategic dialogue with the culture sector and complemented by a strong Creative Europe programme to implement it.

    Soon I will also launch a call for evidence to further gather the views of our cultural and creative sectors of Member States and of citizens. The latter, which are the consumers of our culture, are also quite important to me. But I also firmly believe that we must join forces. We must join forces to send a strong message. We must join forces to illustrate why the European Union and its Member States should support, invest and spend more on culture. This is why I stand before you today, providing direction, coherence and a new level of ambition, providing direction.

    To achieve this, I intend to put forward a joint declaration bringing together the three main institutions under one strong political commitment, a commitment endorsing our principles, a commitment reinforcing the central position that culture holds for our societies and our people. Where the Commission, the European Parliament and the Member States are equal partners in shaping our vision for the future.

    This collaborative approach is my political vision and my promise to you today, because a strategy’s true worth lies not only in the vision and the goal it sets, but in the momentum that we built together. For this to materialise, the full and assertive co-ownership of all EU institutions is essential. This is no small task, but it is possible. If we work together we can make it possible. I count on your full support and I look forward to your contributions here today.

     
       

     

      Bogdan Andrzej Zdrojewski, w imieniu grupy PPE. – Pani Przewodnicząca! Panie Komisarzu! Prace nad Europejskim Kompasem Kultury trwają. Mówił o tym pan komisarz. Oczekiwania na nowe narzędzia, ramy strategiczne są ulokowane nie tylko w środowiskach artystycznych, i to chciałem podkreślić. Trzeba pamiętać, że sektor kultury w Europie to około 8 mln zatrudnionych i 200 mld EUR przychodów. Jest szansa, że opracowanie powstanie do końca bieżącego roku, jak powiedział o tym przed chwilą pan komisarz. By jednak mieć satysfakcję, a zwłaszcza wysoką efektywność wykorzystania potencjału przemysłów kreatywnych, muszą być spełnione dodatkowe warunki.

    Po pierwsze, potrzebne jest wzmocnienie finansowe, zwłaszcza takich programów jak Erasmus+ czy Kreatywna Europa. Mamy tych programów, instrumentów około 20, ale wymieniłem szczególnie te dwa, bo one mają szczególne znaczenie. Po drugie, wsparcie programów edukacyjnych, kształcenia samych artystów, ale także dalsze wysiłki związane z likwidacją rozmaitych barier w dostępie do kultury. Po trzecie, dostrzeżenie zagrożeń, szans i właściwe odniesienie się do nowych projektów z wykorzystaniem sztucznej inteligencji. Właściwe wdrażanie stosownego aktu wymaga precyzji, dobrego tempa i adekwatności. I na koniec, dostrzeżenie apeli samych środowisk artystycznych, ich krytycznych uwag odnoszących się do praw autorskich i chronienia autentycznej ich twórczości.

    Musimy zwrócić uwagę na potrzeby wsparcia dla ludzi świata kultury, jeśli chodzi o ich mobilność i tworzenie nowoczesnych warsztatów pracy. Nie zapomnijmy także o samej promocji. Mamy tu w Europie tak wiele tak cennych obiektów, utworów, rozmaitych dzieł, by z nich skorzystać i ekonomicznie, i na prestiżu.

     
       

     

      Hannes Heide, im Namen der S&D-Fraktion. – Frau Präsidentin, Herr Kommissar! Die Europäische Union ist existenziell gefährdet. Der Angriff auf unsere Demokratie und europäischen Werte erfolgt von innen und außen. Gerade deshalb ist es notwendig, Kultur zu stärken und unsere Gesellschaft vor illiberalen, autoritären Tendenzen zu schützen.

    Der Kultur- und Kreativsektor trägt 5,5 Prozent zur Gesamtwirtschaftsleistung der Europäischen Union bei und beschäftigt über 7,5 Millionen Menschen. Creative Europe ist allerdings das einzige direkte Kulturförderprogramm der Europäischen Union. Der Kultur- und Kreativbereich ist im Vergleich zu anderen Sektoren unterfinanziert. Der neue mehrjährige Finanzrahmen muss sicherstellen, dass Creative Europe ein starkes, eigenständiges Programm bleibt und das Budget deutlich aufgestockt wird.

    Der Kulturkompass ist jedenfalls ein optimales Instrument, die drängenden Herausforderungen wie faire Arbeitsbedingungen für Kulturschaffende, die Potentiale des Kultur- und Kreativsektors zu nützen oder den Einsatz von Künstlicher Intelligenz ambitioniert und erfolgversprechend anzugehen. Nirgendwo sonst ist der sozio-ökonomische Effekt so groß wie bei der Förderung im Kulturbereich. Wenn wir den Kultur- und Kreativsektor voranbringen, dann bringen wir die Europäische Union insgesamt vorwärts.

     
       


     

      Ивайло Вълчев, от името на групата ECR. – Г-жо Председател, новата стратегия “Културен компас” наистина е шанс за един силен, свързан и иновативен културен сектор в Европейския съюз. Но за да бъде успешна тази стратегия, трябва да поставим правилните принципи.

    Трябват ни реалистични, работещи програми и стимули, лишени от всякаква идеология, които да насърчават творците и да привличат инвестиции. Държавите членки трябва да бъдат активно ангажирани, но да помним, че културата е национална ценност и не може, и не бива да се диктува от Брюксел. Никаква намеса, само подкрепа и обмен на добри практики.

    Да помним също, че технологиите и изкуственият интелект могат да подобрят ефективността, но творчеството винаги ще принадлежи на хората. Нека да създаваме условия за растеж, за международни връзки, за културно разнообразие, но без да жертваме свободата на изразяване. Нека да градим, без да налагаме.

     
       

     

      Laurence Farreng, au nom du groupe Renew. – Madame la Présidente, Monsieur le Commissaire, promouvoir notre culture, c’est aussi nous défendre et nous imposer. Notre boussole culturelle, c’est notre boussole de souveraineté. Alors que les attaques contre notre modèle européen se multiplient, ne cédons pas aux menaces américaines. Abandonner notre régulation du numérique et ne pas défendre bec et ongles la reconnaissance du droit d’auteur face à l’intelligence artificielle seraient des fautes historiques, le coup de grâce pour le secteur culturel et, au-delà, pour notre civilisation. Alors soyons intransigeants!

    Par ailleurs, Monsieur le Commissaire – je connais votre engagement –, donnons une vision! Les consultations, c’est bien, mais donnons une vision! En promouvant le multilinguisme pour la circulation des œuvres, en donnant un statut protecteur aux artistes, en renforçant les coproductions dans tous les arts – de l’audiovisuel au théâtre –, en donnant la main aux villes et aux collectivités locales pour créer ensemble et au plus près des citoyens, et pour valoriser leur patrimoine local et leur culture locale. Il n’y aura pas d’Europe demain sans culture européenne.

     
       

     

      Nela Riehl, on behalf of the Verts/ALE Group. – Madam President, Commissioner, dear Glenn, I thank you for your statement and your great commitment to making this a very co-creative process. I really appreciate that, and I believe we are on the right track, but let’s not underestimate the challenge we face here. There is a hybrid war knocking at our doors. Storytelling, clicks on social media and censorship are weaponised against civilians.

    To withstand this, we need vibrant civil societies. We need feelings of belonging together and courage to speak back. This is what culture is actually for.

    We need a European agenda for culture to protect our pluralistic democracies and societies. The culture sector needs security when it comes to plannability, freedom of expression, access and representation.

    Let’s commit to improving the condition for cultural workers. We now have the opportunity to set very clear guidelines.

    First, we need to guarantee artistic freedom. The European Media Freedom Act has been a great success in preserving journalists’ independence, and now we need the same level of legislation to protect freedom of expression for artists and creators.

    Second, we need solid and sustainable funding for the cultural sector. As we are now discussing the next MFF, let’s secure at least 2 % of the overall budget for culture. This is a matter of preparedness, of resilience and of defence.

    Lastly, we need a European strategy on cultural relations and to understand Europe as a global cultural actor, not with a paternalistic worldview, but as a key to foreign policy based on mutual respect. Let’s make this happen.

     
       

     

      Νίκος Παππάς, εξ ονόματος της ομάδας The Left. – Κυρία Πρόεδρε, κύριε Επίτροπε, ο πολιτισμός δεν αποτελεί απλά πυξίδα για την Ευρώπη. Είναι η ψυχή της. Μας ενώνει, μας διδάσκει και μας βοηθάει να ονειρευτούμε και να χτίσουμε ένα καλύτερο μέλλον. Δυστυχώς όμως, στις μέρες μας, οι αξίες που εκπροσωπεί, όπως η ελευθερία, η ποικιλομορφία, η διαφορετικότητα και ο διάλογος απειλούνται. Ακραίες φωνές επιδιώκουν να διχάσουν αντί να ενώσουν.

    Για παράδειγμα, στη χώρα μου, βουλευτής του Κοινοβουλίου βανδάλισε έργα και εικόνες μέσα στην Εθνική Πινακοθήκη. Άλλοι ακραίοι προπηλακίζουν και απειλούν ηθοποιούς στις παραστάσεις τους, στα θέατρα.

    Η ελευθερία της έκφρασης όμως δεν είναι διαπραγματεύσιμη. Είναι το θεμέλιο της δημοκρατίας και της καλλιτεχνικής δημιουργίας. Οφείλουμε λοιπόν να προστατεύσουμε τους καλλιτέχνες, τους επαγγελματίες στον χώρο του πολιτισμού και τους θεσμούς από τη λογοκρισία, την πολιτική πίεση και την επαγγελματική επισφάλεια.

    Ο πολιτισμός δεν είναι πολυτέλεια. Είναι ανάγκη για τη δημοκρατική ανθεκτικότητα. Είναι δικαίωμα για όλους. Καθώς διαμορφώνουμε, λοιπόν, την πολιτισμική πυξίδα της Ευρώπης, ας μην προσεγγίσουμε τον πολιτισμό μόνο ως εργαλείο για την ανταγωνιστικότητα. Ας διασφαλίσουμε, πρώτα από όλα, ότι θα υπερασπίζεται την ελευθερία και τη δημιουργικότητα ως κοινή μας κληρονομιά.

     
       


     

      Hélder Sousa Silva (PPE). – Senhora Presidente, Senhor Comissário, caros colegas, com esta bússola cultural da Comissão Europeia, penso que a Europa esteja finalmente a perceber que a cultura não é um luxo só acessível a algumas elites, mas sim um verdadeiro motor de competitividade. O setor cultural e criativo representa 4,2 % do PIB da União Europeia e emprega 3,7 % de mão de obra.

    Mas o seu impacto vai muito além dos números. A cultura é um pilar da nossa coesão e da nossa segurança. Numa altura em que a desinformação é uma ameaça crescente à estabilidade das nossas democracias, a cultura oferece uma defesa essencial, formando um público crítico e capaz de distinguir entre factos e manipulação.

    Contudo, não podemos esquecer o contexto geopolítico em que nos inserimos. Em tempos turbulentos, a cultura também é um instrumento de política externa. Ao projetar os nossos valores no mundo, fortalecemos a nossa posição enquanto europeus.

    E se queremos uma União Europeia mais competitiva, mais coesa e mais segura, precisamos de uma verdadeira estratégia cultural que não fique apenas no papel e que vai desde a Europa Criativa até ao Erasmus+, sem que ninguém fique para trás. Temos de nivelar por cima no setor cultural europeu e a bússola cultural é isso mesmo.

    Sem cultura, não há verdadeiramente União Europeia.

     
       

     

      Sabrina Repp (S&D). – Frau Präsidentin, Herr Kommissar! Kultur lebt nicht nur in den Metropolen, sondern in den Regionen, in kleinen Orten, in engagierten Initiativen. Genau dort fehlen aber häufig Räume, Mittel und Sichtbarkeit. Darum ist die Initiative des Kulturkompasses umso wichtiger. Kultur ist dabei mehr als Kunst und Unterhaltung: Sie ist ein Bindeglied; sie schafft Begegnung, Verständnis und Gemeinschaft. Sie ist ein Raum, in dem Unterschiede keine Trennung bedeuten, sondern uns bereichern.

    In einer Zeit, in der Polarisierung und Ausgrenzung zunehmen, ist es umso wichtiger, diesen verbindenden Charakter der Kultur zu stärken. Sie gibt uns die Chance, Brücken zu bauen – zwischen Generationen, zwischen Ländern, zwischen Lebensrealitäten.

    Dabei muss Kultur für alle zugänglich und erreichbar sein. Deshalb brauchen wir zielgerichtete Förderung für strukturschwache Regionen, vereinfachten Zugang zu Fördermitteln und vor allem echte Beteiligung vor Ort. Nur so wird Kulturpolitik mehr als ein Kompass. Sie wird eine gemeinsame Bewegung, die Europa spürbar macht – nah, bunt und lebendig.

     
       



     

      Nikos Papandreou (S&D). – Mr President, Commissioner, thank you very much for bringing us into this discussion at an early stage so we can form the cultural compass together. In the last term, there was something called the Commissioner for European Way of Life. And when I first heard that, I actually smiled. But now I think it’s more important than ever.

    And the European way of life includes… and I have to mention a few people, like Almodóvar, who makes us happy and sad, Pina Bausch from Solingen, who is a mortal, but when I saw her in Epidaurus in Greece, she looked like a goddess, and also Marina Abramović, Serbian. Perhaps they’ll be part of the EU soon, too. So this is what I think of when I think of culture, and now that we’re being attacked from within and from without, it’s even more important. So I support your effort very much. And, you know, our group here S&D is on your side.

     
       

     

      Giusi Princi (PPE). – Signora Presidente, signor Commissario, onorevoli colleghi, parlando di cultura il pensiero mi porta inevitabilmente alla mia Calabria, terra dal potenziale straordinario, perché, se la ricchezza della Magna Grecia che la caratterizza incontrasse le tecnologie digitali, potrebbero davvero nascere delle opportunità dirompenti.

    È questa l’alchimia che vogliamo: trasformare le eredità culturali e storiche dei territori in occasioni concrete di sviluppo.

    È la cultura che ci definisce come europei, perché ogni euro investito in cultura ne genera 2,7 di valore aggiunto nei territori.

    Ma senza investimenti strategici questo potenziale resterà inespresso. La bussola della cultura deve allora tradursi in azioni concrete: fondi per l’imprenditoria culturale, incentivi fiscali, formazione innovativa.

    La scelta è ora! La posta in gioco è il futuro delle nostre regioni, della nostra economia, delle nuove generazioni, della nostra stessa idea di Europa.

     
       

     

      Joanna Scheuring-Wielgus (S&D). – Panie Komisarzu! Bardzo doceniam fakt, że rozpoczynamy pracę nad tą strategią. Ona jest kluczowa i ważna, ponieważ żyjemy w kluczowych i wyjątkowych czasach. Tak jak Pan Komisarz przed chwilą powiedział, sektor kultury w czasach, które teraz mamy, potrzebuje naprawdę bardzo dużych wyzwań i mam nadzieję, że będzie w związku z tym bardzo ambitna legislacja, która pomoże w swobodzie wyrazu artystycznego, w inwestycjach w ludzi. Polska prezydencja ma to na swoich sztandarach. Mam nadzieję, że to się uda.

    Sztuczna inteligencja, której się bardzo obawiamy, a która nie może zaszkodzić artystom i musi chronić ich prawa autorskie. Dziękuję, że o tym dyskutujemy. Dziękuję, że o tym rozmawiamy, i powinniśmy jako Europejki i Europejczycy być dumni z tego, czym jest Europa, jakie ma dziedzictwo, jaką ma kulturę. Mam nadzieję, że nam się to uda, ale oczekuję ambitnych planów i ambitnych ustaw w tej kwestii.

     
       

       

    Catch-the-eye procedure

     
       

     

      Francisco José Millán Mon (PPE). – Señora presidenta, Europa es un continente de cultura, especialmente de patrimonio cultural, una auténtica seña de identidad. Los países de la Unión son los que acogen el mayor número de sitios reconocidos por la Unesco como Patrimonio Mundial. Espero que la brújula cultural, señor comisario, dedique un lugar importante a la preservación del patrimonio cultural europeo, que debe ser una prioridad de todas las administraciones concernidas, incluida la europea.

    En cuanto a la financiación europea para la preservación de este patrimonio, creo que, frente a la fragmentación de esta financiación hoy, sería útil que estudiáramos la conveniencia de crear un fondo específico europeo que contribuya a la protección de nuestro patrimonio cultural.

    Y quiero subrayar también la necesidad de que la Unión incremente su cooperación con las llamadas rutas culturales europeas, un programa del Consejo de Europa muy exitoso desde 1987, cuando los Caminos de Santiago se declararon primera ruta cultural europea. Desde entonces y hasta hoy, son ya cuarenta y siete los itinerarios culturales reconocidos. Estos itinerarios contribuyen a la preservación del patrimonio y son testimonio de una comunidad cultural de base, que está en el fundamento del proceso de integración.

     
       


     

      Ľubica Karvašová (Renew). – Vážená pani predsedajúca, kultúra tvorí podstatnú časť európskej ekonomiky. Deväť miliónov pracovných miest, dvesto miliárd eur obratu. Preto podporujem váš zámer a vítam túto debatu. Pri vládach so sklonmi oslabovať demokraciu ale kultúra trpí ako prvá. Zažíva snahy o vládnutie a to zhoršuje nielen jej kvalitu, ale aj celú našu konkurencieschopnosť.

    No čo s tým? Ako ste povedali, chrániť slobodu tvorby, podporovať medzinárodnú spoluprácu umelcov tak, ako po tom volá aj celoeurópska iniciatíva Resistance Now: Free Culture. Žiaľ, na Slovensku – no nielen – je realita taká, že dnes vidíme politické zásahy. Vidíme útoky na umelcov, vidíme finančné škrty či dosadzovanie nekompetentných manažérov do národných ikon, kultúrnych inštitúcií, divadiel a galérií a takisto aj v kultúre v regiónoch. Preto potrebujeme tri veci, pán komisár.

    Prvá: presadzovať väčšiu ochranu slobody tvorby po vzore európskeho zákona o slobode médií. Po druhé, silný program pre mobilitu umelcov typu Erasmus, a posledná – podporu regiónov a kultúry v regiónoch.

     
       

       

    (End of catch-the-eye procedure)

     
       

     

      Glenn Micallef, Member of the Commission. – Thank you, dear colleagues, for your constructive engagement in today’s discussion, which is very valuable in our work to design this bold and ambitious initiative.

    Our aim is to ensure that the Union continues to be a global cultural powerhouse, a global leader in the cultural sector, because we are united in our view – also in the discussions that we have had today – that culture has an undeniable power to build bridges.

    So now it’s the time to be more vocal. It’s time to be more assertive and to reaffirm our shared values – what we stand for as the European Union. You have all been clear on this. We need to be coherent. We need to be ambitious. And we need to guide our actions in the cultural field, which are right now dispersed over a number of instruments.

    What we need is to find ways to enable the cultural sector to reach its full potential, to shore up our competitiveness and our societal resilience, to safeguard our democracy and our values. This is what will unite us in these incredibly and increasingly challenging times. Times where what we cherish the most – our values – seem to be called into question every day.

    I find myself very much reassured by your support, by your comments and by your engagement on this initiative, as well as by your willingness to contribute to this compass that will try to make the cultural and creative sectors more resilient and more competitive.

    This is a promising sign, signalling our intent to step up our action together to put culture, to put our shared values at the heart of our work, as well as our identities as Europeans.

    I look forward to working with you to make this vision a reality, and I thank you for your commitment to take our work together forward.

     
       

     

      President. – The debate is closed.

     

    16. Situation of European academics and researchers in the US and the impact on academic freedom (debate)


     

      Ekaterina Zaharieva, Member of the Commission. – Madam President, honourable Members of the European Parliament, thank you for the opportunity to address the situation of our academics and researchers in the United States.

    At the European Commission, we have been closely following recent developments across the Atlantic. As you are aware, the new administration has drastically cut federal research spending. Heavy staff and budget cuts have been announced for major federal science agencies. Overheads on federal grants could be dropped from 60 % to 15 %. We note with concern that some of these measures are targeting specific universities and scientific fields. These include climate science, vaccine research, as well as studies focused on women and minorities.

    Meanwhile, across US states, over 150 bills were proposed to limit what universities can teach. Twenty-one have already become laws. At the same time, let me stress that this trend is not limited to the United States. Academic freedom is under pressure globally, as scientists worldwide are increasingly instrumentalised.

    As the birthplace of enlightenment and the scientific revolution, Europe has a historical responsibility to defend academic freedom. While we are not immune to challenges, we remain a global leader in academic freedom. In 2020, we reaffirmed our commitment to freedom of scientific research with the Bonn Declaration. This commitment runs through our policies from Horizon Europe to our Pact for Research and Innovation.

    At the same time, we cannot afford complacency. This global landscape is an opportunity to show the world that Europe will remain a safe space for science and research. Without freedom, knowledge cannot truly grow. The increasing number of countries associated to Horizon Europe also fosters our global engagement for academic freedom.

    Let me be clear: I believe that Europe can and should be the best place to do science and research in the world – a place that attracts and retains researchers, both international and European, in particular those who are in search of a safe and supportive research environment. To ensure that Europe can be that place, we must enhance our ‘pull factor’. We must offer the best opportunities for scientists and researchers.

    The European Commission is proposing concrete steps in this direction. First, by building on our strengths. To ensure that science remains free from interference across the Union, we will enshrine freedom of scientific research into EU law. This is in line with Parliament’s resolution on January 2024. We also improve the attractiveness and the access to our cutting-edge research infrastructure, notably in the upcoming strategy on research and technology infrastructures that we are preparing.

    Second, we must make research careers attractive. Poor working conditions for researchers drives brain drain. This is why, under our Marie Skłodowska-Curie actions, this year we are launching a new Choose Europe pilot. It will provide higher allowances and longer recruitment periods for top PhD researchers who choose Europe to pursue their career.

    In parallel, we will increase the support we provide to European Research Council grantees who relocate to Europe. This is already a possibility today, as grantees moving to Europe can benefit from an additional EUR 1 million top-up. We will increase this to EUR 2 million already this year. We are also examining further measures for 26-27, with a new report on this in due course.

    Third, we must make our frameworks simpler and more cohesive. The future European research area act will coordinate research strategies, because 27 excellent but fragmented research strategies do not make a good European one. I have recently received a letter signed by 13 Member States asking to coordinate the measures that are being taken at national and European level, which shows how necessary this coordination effort is.

    We further enhance cooperation of our universities in the European university alliances. Pooling resources is key to achieve the necessary scale for top research and education. Also, a new visa strategy will be developed later this year. It will examine how the current rules are fit for purpose to attract top researchers, together with students and skilled workers from beyond our borders.

    Honourable Members, to conclude, let me highlight the importance of close cooperation with this House and with all Member States to making this vision a reality. I also want to stress the role that our regions, our cities, our universities and research organisations have to play. Their work is what makes Europe not only a global scientific powerhouse, but also a model for a certain European way of life that the whole world admires.

    Together we can keep Europe at the forefront: a home for our two million researchers, one quarter of the world’s total, and a competitive, safe destination for global talent.

     
       

     

      Wouter Beke, namens de PPE-Fractie. – Voorzitter, “alles dat werkelijk groots en inspirerend is, is gecreëerd door individuen die in alle vrijheid kunnen werken,” aldus Albert Einstein.

    Albert Einstein, en met hem vele anderen, onder wie de denkers van de Frankfurter Schule en Hannah Arendt, ontvluchtten in de jaren dertig het nazisme en fascisme in nazi-Duitsland en trokken naar de Verenigde Staten om daar in alle vrijheid en ruimte hun academische ideeën te kunnen ontwikkelen.

    Vandaag de dag zien we het omgekeerde: de regering-Trump hakt fors in op de financiering van onderzoek. Zij perkt bovendien de academische vrijheid in en verzwakt het maatschappelijk debat. Als gevolg hiervan gaan steeds meer Amerikaanse onderzoekers op zoek naar nieuwe toevluchtsoorden.

    Dit biedt voor de Europese Unie een unieke kans om zich te profileren als vrijhaven voor internationaal talent en de innovatiekloof te dichten. Om de achterstand op dit gebied te overbruggen, moeten we de basis van innovatie versterken met de wetgevingshandeling inzake de Europese onderzoeksruimte, die voorziet in betere toegang tot onderzoeksinfrastructuur en een strategie voor het wegnemen van belemmeringen voor start-ups en scale-ups. Door de onderzoeksmiddelen te verdubbelen en de Clean Industrial Deal aan te nemen, kunnen we ambitieuze wetenschappers aantrekken om hier de technologieën van de toekomst te komen ontwikkelen.

    De huidige bezuinigingen en het klimaat van onverdraagzaamheid in de Verenigde Staten bieden voor Europa een gouden kans. Laten we investeren in onderzoek, onderwijs en aantrekkelijke loopbanen, zodat de Europese Unie opnieuw een baken wordt voor de wetenschappers van morgen.

    Laten we de Einsteins terughalen naar Europa!

     
       

     

      Marcos Ros Sempere, en nombre del Grupo S&D. – Señora presidenta, señora comisaria, los enemigos de la libertad siempre atacan primero a la investigación y a la educación. Siempre atacan primero a los que quieren encender las luces del progreso en nuestra sociedad. Nos quieren mantener en la oscuridad del oscurantismo. Esto es lo que ocurre en los Estados Unidos con los recortes masivos en investigación y en enseñanza.

    Y, en esta situación, la Unión Europea tiene que ser el faro del conocimiento, el faro que marque el camino en defensa de la libertad académica, en defensa de un pilar fundamental de la democracia. Debemos reforzar nuestras universidades. Debemos facilitar la acogida de investigadores afectados. Debemos consolidarnos como tierra de pensamiento libre. Más asociaciones internacionales, más financiación, más atracción de talento extranjero. Unas alianzas de universidades europeas fuertes que sean ejemplo.

    Debemos mostrar a los investigadores afectados en los Estados Unidos que aquí la libertad es un pilar inquebrantable, un faro contra el oscurantismo.

     
       

     

      Malika Sorel, au nom du groupe PfE. – Chers collègues, Madame la Commissaire, les attaques de l’administration américaine contre la science et la liberté académique ont conduit à des licenciements massifs de chercheurs, et le climat pousse les autres à s’autocensurer.

    Les répercussions sont internationales. Des projets de recherche collaborative sont concernés. Comme l’exprime très bien Luc Ferry, ancien ministre français de l’éducation et de la recherche, la science est intrinsèquement démocratique, et c’est pourquoi nous devons nous inquiéter.

    Nous assistons à deux attaques symétriques: d’un côté, le wokisme et le politiquement correct, qui ont sévi durant des décennies, y compris dans nos pays, et de l’autre un mouvement de réaction qui entend couper les vivres à des organismes de recherche sous prétexte qu’ils ont pu pactiser avec le wokisme.

    Que faire? Il nous faut repenser au rapport de Mario Draghi sur la compétitivité. Chers collègues, nous devons absolument tirer profit de cette fenêtre d’opportunité, d’autant plus que nous observons que des flux financiers se détournent des États-Unis au profit de l’Union européenne. Accueillons les chercheurs américains aptes à favoriser l’innovation et à booster notre croissance, et mettons sur pied des programmes de retour pour nos propres talents.

     
       

     

      Fernand Kartheiser, au nom du groupe ECR. – Madame la Présidente, Madame la Commissaire, ceux qui reprochent au président Trump de vouloir restreindre la liberté académique peuvent aussi verser dans l’exagération. Si la liberté de critiquer la politique israélienne doit être préservée, la lutte contre l’antisémitisme et la violence sur les campus universitaires est justifiée.

    De même, il faut rétablir la qualité de l’enseignement et de la recherche en écartant des pseudo-sciences, comme par exemple la théorie du genre. En promouvant la méritocratie, on rétablit la justice et l’équité. Les Américains ne favorisent plus certaines personnes en raison de leurs caractéristiques physiques.

    Au lieu de critiquer cette approche, nous devrions l’adopter. Faisons de nos universités et de nos instituts de recherche des hauts lieux de l’excellence intellectuelle et de la liberté académique, tout comme le font actuellement les États-Unis.

    Malheureusement, la réalité est autre. Les universités européennes perdent en attractivité. Certains de nos États membres sont très mal classés dans l’indice de liberté académique. Les pressions exercées sur des professeurs ou des chercheurs sont de plus en plus fréquentes. Des conférences, par exemple sur le sexe biologique en sciences naturelles, ont dû être annulées. Souvent, ces pressions sur les chercheurs sont exercées par les universités elles-mêmes, ce qui est totalement inacceptable.

    Compte tenu de ces évolutions, l’écart entre les États-Unis et l’Europe risque de se creuser. Des deux côtés de l’Atlantique, tout doit être fait pour soutenir et défendre tant la liberté d’expression que la liberté académique.

     
       

     

      Laurence Farreng, au nom du groupe Renew. – Madame la Présidente, Madame la Commissaire, chers collègues, «la liberté, c’est la liberté de dire que deux et deux font quatre. Lorsque cela est accordé, le reste suit». Cette citation de Georges Orwell a une résonance particulière, aujourd’hui, dans l’Amérique de Donald Trump. La recherche de la vérité, la science se fondant sur des faits: tout cela est balayé sur l’autel de l’idéologie trumpiste.

    Depuis deux mois, pour les universités américaines, ce ne sont que fonds gelés, licenciements, intimidations. Et les trumpistes vont plus loin dans la dystopie. Pollution, femme, victime, handicap, racisme, égalité, changement climatique, santé mentale: voici quelques mots parmi la centaine à avoir été censurés par l’administration Trump. Autant de mots que les scientifiques ne peuvent plus utiliser dans leurs projets de recherche. Les États-Unis, jusqu’alors eldorado des chercheurs du monde entier, sont devenus un repoussoir.

    L’Union européenne a bien sûr une place à prendre dans cette reconfiguration. Elle doit devenir un phare pour la liberté académique, un nouveau pôle d’attraction des scientifiques internationaux. Cela doit se traduire par un plan ambitieux et par des investissements de long terme pour nos universités.

     
       

     

      Alexandra Geese, on behalf of the Verts/ALE Group. – Madam President, Commissioner, colleagues, the English newspaper The Guardian put it in a nutshell: when the physicists need burner phones, that’s when you know that America has changed. And they do need burner phones; a French scientist was recently prevented from entering the United States because US Border Patrol agents read his phone and found a personal opinion about Trump’s science politics.

    The National Science Foundation is scouring thousands of research projects for dozens of newly prohibited words, and notified scientists to halt work that doesn’t adhere to Trump’s censorship. One word on that list is ‘women’. The US prohibits public research about women. Let this sink in.

    ‘Free speech is in retreat,’ said Vice President J.D. Vance in Munich. Yes, it is – but not in Europe, in the US. But for Europe, this is a very special moment and also a special chance, because when Europe wasn’t free, the US boosted their research, offering sanctuary to European scientists. And now it’s our turn. Let us massively step up our programmes to welcome all scholars and scientists who want to research here. Let us turn Europe into the global sanctuary of academic freedom.

     
       

     

      Mario Furore, a nome del gruppo The Left. – Signora Presidente, onorevoli colleghi, la libertà accademica è sotto attacco, non solo in regimi autoritari, ma anche in paesi che si definiscono democratici.

    Pensate che negli Stati Uniti i recenti ordini esecutivi della nuova amministrazione Trump hanno congelato miliardi di dollari per la ricerca e censurato ambiti del sapere, quali il cambiamento climatico e le questioni di genere, e tutto questo perché siamo ostaggio di un’ideologia.

    E oggi qui denunciamo un fatto gravissimo: un ricercatore francese, in viaggio per una conferenza in Texas, è stato bloccato ed espulso dagli USA dopo che, al controllo doganale, sono stati letti i suoi messaggi critici verso Trump. Un atto di repressione politica mascherato da sicurezza nazionale.

    L’Academic Freedom Index mostra un declino inquietante e l’Italia, purtroppo, non è immune, perché assistiamo a ingerenze politiche e precarietà strutturale che minano l’autonomia dei nostri atenei.

    Chiediamo all’UE di non restare in silenzio e di impegnarsi più a fondo per la libertà accademica.

     
       


     

      Adrián Vázquez Lázara (PPE). – Señora presidenta, según el ranking de Shanghái sobre calidad universitaria, tan solo una de las treinta mejores universidades del mundo se encuentra en la Unión Europea. Por el contrario, diecinueve de esos treinta principales centros de enseñanza e investigación, es decir, un 63 %, están en los Estados Unidos.

    La carrera por la competitividad y la innovación es una carrera de fondo. Muchas de las empresas tecnológicas que hoy dominan el mercado fueron en su día proyectos surgidos en entornos universitarios. Europa no puede quedarse atrás: debe apostar con firmeza, primero, por retener el talento —algo que no hemos hecho muy bien en los últimos años, porque muchísimos europeos están en universidades y empresas estadounidenses— y, segundo, por atraer el talento a nuestros centros académicos. Una universidad europea que aspira a competir en la esfera internacional es el mejor reflejo de una Unión Europea comprometida con su futuro.

    Ahora creo que es el momento para lograrlo. El Departamento de Educación estadounidense ha reducido su plantilla en aproximadamente un 50 % en tan solo dos meses de la Administración Trump. A esta decisión, Europa puede ofrecer libertad académica, puede ofrecer un estilo de vida atractivo para cualquier investigador y debería ofrecer mucha más financiación.

    Estamos en una posición privilegiada para liderar la investigación en la próxima década, y muchos de los académicos que buscan salir de los Estados Unidos son europeos que buscan hoy más que nunca volver. Por eso, señora comisaria, yo la invito a hacerse una ronda por las universidades estadounidenses y que les convenza y traiga el mayor número de europeos de vuelta a su casa.

     
       

     

      Nicola Zingaretti (S&D). – Signora Presidente, onorevoli colleghi, benissimo lottare come europei, finalmente, per la libertà della scienza, che è vulnerabile ovunque e in qualsiasi momento.

    Donald Trump ha effettuato gravi tagli nel campo dell’educazione, ha licenziato metà dei funzionari del dipartimento e ha ridotto i finanziamenti alle università; noi sappiamo che gli Stati Uniti sono stati un pilastro della ricerca mondiale, che ha garantito progresso per tutto e per tutti.

    Per questo l’attacco di Trump ci riguarda: è un attacco all’educazione, alla ricerca e anche un attacco alla libertà intellettuale. È un rischio per il progresso del mondo.

    L’Unione europea e gli Stati Uniti rappresentano quasi il 50 % dei fondi globali per la ricerca e l’innovazione e ora noi europei abbiamo una responsabilità fondamentale: dobbiamo agire subito, per supportare le nostre università nel creare un boom di attrattività.

    Accendiamo dunque la forza dell’Europa per attrarre i giovani, gli scienziati, i ricercatori, i docenti e per difendere il nostro futuro insieme.

     
       

     

      Christophe Grudler (Renew). – Madame la Présidente, Madame la Commissaire, avec M. Trump, les chercheurs américains vivent un véritable cauchemar: budgets coupés, bourses supprimées, licenciements abusifs… Beaucoup envisagent de quitter leur pays. Ces attaques ne sont pas seulement financières, elles sont idéologiques. C’est une censure de la recherche sur le climat, sur la santé, sur les technologies de pointe, sacrifiée sur l’autel du populisme.

    Nous revoilà à l’époque de Galilée, où la science doit plier face au dogme d’un seul homme. L’Europe doit recueillir ces talents et devenir le bastion mondial de l’excellence scientifique et de la liberté académique. Offrons à ces chercheurs un avenir avec des financements et des perspectives. Les 22 millions d’euros annoncés pour le projet pilote sont une bonne chose, mais cela ne suffira pas. Il faut aller plus loin et chercher d’autres financements, publics comme privés.

    Dear American researchers, European research needs you now.

     
       

     

      Anna Strolenberg (Verts/ALE). – Madam President, a society that silences academics is a society in decline. A society that censors research on climate change and gender is a society in decline. Academic freedom is not a privilege; it’s a condition to do your job.

    So, to all European leaders, to the European Commission, I have a message. We can feel sorry for all those academics in the US, or we can provide them with something better: a place where research is valued, a place where academic freedom is protected.

    Attracting this talent is in our own interest. If not, we will become a society – a continent – of the past. We will become the backseat drivers. So we need this talent.

    Today I read Europe needs to revive its hunger to attract talent, and this is true. We have to revive our hunger to become the frontrunners in research and innovation. So let’s triple our research budgets, let’s create easy visas for those researchers, and let’s take away hurdles for start-ups. Let’s make Europe the home for academic freedom where all talent counts.

     
       

     

      Bogdan Andrzej Zdrojewski (PPE). – Stany Zjednoczone, ze Statuą Wolności, w obszarze nauki mogą stać się zaprzeczeniem własnych kluczowych idei. Ingerencje najpierw słowne, potem finansowe, a w finale regulacje dotyczące ograniczeń w badaniach nie płyną dziś z Kremla, lecz z Białego Domu. Amerykańskie uczelnie zaczynają być pouczane, ograniczane w tematach prac, a Departament Edukacji podpisem prezydenta został zniesiony. Wobec ponad 40 uczelni, w tym takich jak Yale, prowadzone są postępowania – uwaga – o naruszenie praw obywatelskich.

    Są dwa szczególnie wrażliwe obszary, swoiste barometry wolności. To świat kultury i świat nauki. Nie chcę dokonywać dalszych ocen polityki kluczowego przecież państwa na świecie. Dziś raczej chcę pozytywnie się odnieść do pierwszych propozycji naszych europejskich uczelni. Zapraszamy na Stary Kontynent i badaczy, i naukowców, i studentów. Zagwarantujemy im wolność akademicką, warunki do poszukiwania najlepszych rozwiązań, zarówno by dbać o postęp w medycynie, jak i by monitorować zmiany klimatyczne.

     
       

     

      Lina Gálvez (S&D). – Señora presidenta, señora comisaria, la libertad académica lleva años disminuyendo de la mano de las propuestas antiliberales y también de la mercantilización del conocimiento.

    Pero ahora, además, con la llegada de la Administración Trump, la censura, la narrativa anticientífica y la cancelación de la financiación de muchos proyectos de investigación y programas académicos han puesto a la comunidad científica de los Estados Unidos en un contexto de falta de libertad, sobre todo en áreas de conocimiento como el medio ambiente o los estudios de género, que están siendo desmanteladas.

    En este contexto, la fuente de competitividad de los Estados Unidos, que siempre ha sido su capacidad de atracción de talento, puede desaparecer.

    Así que Europa debe activar y dotar el programa propuesto por Manuel Heitor, conocido como «Choose Europe», para recuperar y atraer el talento mediante una mejor financiación, facilitando visados y fortaleciendo las colaboraciones internacionales.

    Pero no solo: la defensa de la democracia, la igualdad y los Estados del bienestar pueden y deben ser el plus que aporte a Europa a nuestra apuesta para atraer los mejores talentos como fuente de competitividad y riqueza en el más amplio sentido del término.

     
       

     

      Dan Barna (Renew). – Doamnă președintă, două personaje din istoria umanității au destine ce sunt astăzi foarte actuale. Giordano Bruno, ars pe rug pentru crima de a spune că Universul este infinit, și Galileo Galilei, scăpat de rug, dar închis pe viață pentru crima de a afirma că Pământul se învârte în jurul Soarelui. 400 de ani mai târziu, astăzi, în Statele Unite, universități sunt amenințate că pierd finanțarea, programe de cercetare sunt întrerupte pentru că nu convin unei dogme, oameni de știință ajung să se teamă de poliția gândurilor sau a cuvintelor.

    Europa este acum singurul și cel mai puternic garant al libertății, atâta timp cât administrația actuală a SUA tocmai experimentează aplicația „Inchiziția ideologică 2.0”. Ceea ce părea de neimaginat acum câteva luni este o realitate pe care o trăim. Europa a devenit refugiu al libertății academice. Există deja inițiative de azil științific în Franța, Belgia sau Olanda și trebuie salutate, dar nu este de ajuns. Comisia Europeană trebuie să prezinte și să implementeze de urgență un program de atragere a oamenilor de știință din Statele Unite. Spiritele libere trebuie să aibă un cămin.

     
       

       

    Catch-the-eye procedure

     
       

     

      Sebastian Tynkkynen (ECR). – Madam President, during the latest years we have witnessed a huge threat to academic freedom. When woke, DEI and critical race theory flooded the great intellectual institutions of the West, this body was silent as a crypt.

    Here are a few examples.

    Mandatory critical-race-theory training that sought to indoctrinate students into rejecting their unconscious thoughts and behaviours towards minority groups – where was the outrage?

    A bloated DEI bureaucracy demanding teachers to sign diversity statements in prestigious American universities like Harvard and MIT – where was the outrage?

    A study on the ineffectiveness of puberty blockers going unpublished because of politics – where was the outrage?

    Actually, you wanted this to continue, and now you are outraged when a lot of people are saying to all this, ‘No, thank you.’

     
       

     

      Κώστας Παπαδάκης (NI). – Κυρία Πρόεδρε, καταγγέλλουμε τις διώξεις, τις ποινές, τις απειλές σε ακαδημαϊκούς, ερευνητές και φοιτητές στις ΗΠΑ αλλά και στην Ευρωπαϊκή Ένωση, επειδή εκφράζουν αταλάντευτα την αλληλεγγύη τους στον αγωνιζόμενο παλαιστινιακό λαό, και καταδικάζουν τη γενοκτονία του κράτους του Ισραήλ με τη στήριξη των ΗΠΑ, της ΕΕ και του ΝΑΤΟ. Η προσπάθεια τρομοκράτησης της καταστολής απέτυχε γιατί οι λαοί βρίσκονται στη σωστή πλευρά της ιστορίας, στηρίζουν τον αγώνα των Παλαιστινίων για να τερματιστεί η ισραηλινή κατοχή, για ελεύθερη ανεξάρτητη πατρίδα, για την επιστροφή όλων των προσφύγων στις εστίες τους και την απελευθέρωση όλων των κρατουμένων.

    Σήμερα είναι ανάγκη να κλιμακωθεί ο αγώνας των σπουδαστών, των πανεπιστημιακών, καθηγητών και ερευνητών ενάντια στα προγράμματα του ΝΑΤΟ, στις έρευνες διπλής χρήσης, ενάντια στη συνεργασία με τις ισραηλινές και άλλες βιομηχανίες του πολέμου, ενάντια στη χρηματοδότησή τους από προγράμματα όπως το Horizon Europe ή το σύμφωνο έρευνας και καινοτομίας. Να αντισταθούμε στη μετατροπή των πανεπιστημίων σε εξάρτημα της πολεμικής οικονομίας της Ευρωπαϊκής Ένωσης, της όξυνσης, κλιμάκωσης και επέκτασης της ιμπεριαλιστικής πολεμικής εμπλοκής στην Ουκρανία, τη Μέση Ανατολή και τον Ινδοειρηνικό.

     
       

       

    (End of catch-the-eye procedure)

     
       

     

      Ekaterina Zaharieva, Member of the Commission. – Madam President, honourable Members, thank you very much again for this debate and thanks for sharing your insights. I took careful note of them, and I am pleased that your interventions in general highlight broad political support for research and science.

    Supporting our researchers and scientists, whether in Europe or abroad, is something that cuts across national and party lines, and we should support these initiatives as policymakers.

    In the coming months, we will implement the measures that I presented to you at the beginning of this debate, and we will also explore additional ideas, also benefiting from this debate today.

    What is really important is that we will continue to defend academic freedom and independence of European universities and academia, because when we defend academic freedom, we invest in the future. Without independent research, we risk losing the trust in science, which is really very dangerous.

    Our approach must be pragmatic and in line with our interests, but we will also continue to be partners, to focus on partnership, not in unfair competition. We will continue cooperating openly with our partners, including with the United States, building bridges through science, even when politics sees wars.

    Honourable Members, in times of uncertainty, researchers at home and abroad are looking at Europe – not only for stability, but for leadership based on our European values. To them today I want to say: Europe sees you. Europe is ready to support you. Europe is your home.

     
       

     

      President. – Thank you very much, Commissioner. The debate is closed.

     

    17. Need to ensure democratic pluralism, strengthen integrity, transparency and anti-corruption policies in the EU (debate)


     

      Ekaterina Zaharieva, Member of the Commission. – Madam President, honourable Members, democracy is a fundamental value of European Union, together with respect for the rule of law and fundamental rights. The functioning of the Union is founded on representative democracy which supports decision‑making and which is close and accountable to the citizens. Representative democracy is grounded in free and fair elections, trusted democratic institutions and an open and plural democratic process.

    Democratic pluralism requires that the democratic process be open, contestable and acceptable to all citizens equally. Decision‑making, which is reasoned, transparent and accountable, and for citizens to have access to reliable information from a plurality of sources, including as provided on the basis of journalistic and scientific standards.

    The Commission supports democratic pluralism in the EU. The Commission is therefore stepping up its engagement in favour of democracy, notably with the preparation of the European Democracy Shield, a key initiative announced in the political guidelines for this mandate. The Democracy Shield will provide a strategic framework to safeguard and strengthen democracy in the EU, aiming to reinforce public trust in democracy and democratic institutions. It will be underpinned by several concrete initiatives.

    The Shield will cover several areas, namely: first, foreign interference, information manipulation and disinformation; second, the fairness and integrity of elections and the strengthening of democratic frameworks; third, societal resilience and preparedness; and, last, citizens’ participation and engagement.

    Citizens’ trust in national and European democratic institutions is linked to overall trust in democracy. Democratic resilience at national and at European level are mutually reinforcing. European democracy must be more participative and more vibrant. The role of free, independent and pluralistic media in this context cannot be restated enough.

    While preparing the Democracy Shield, the Commission will follow a ‘whole of society’ approach. We will consult broadly with stakeholders. The public consultation has been launched today for a duration of eight weeks. We will step up our work on defending all parts of our democracy. We will protect our free media and civil society. The rule of law and the fight against corruption will remain at the heart of our work. We will continue to make best use of all our tools, including enforcement.

    Integrity and transparency are key. As the Commission President explained in her political guidance, there is an urgent need to impose transparency on foreign funding of our public life as common law. Parliament is currently considering a proposal from the Commission on interest representation, on which rapid progress should be made in order to further enlarge our EU toolbox with common EU proportionate standards.

    There is also work to do closer to home, to live up our values and to ensure that citizens see us upholding the laws we make. As part of the Commission’s commitment to transparency, Commissioners, their cabinet members and all Commission staff holding management functions publish information and minutes on meetings held with interest representatives. Meetings related to law or policy formulation or implementation in the EU can only take place if the interest representatives are registered in the EU Transparency Register.

    On corruption: corruption is a threat to the rule of law, democracy and fundamental rights. It is a hidden crime with no obvious single victim. Its harm is felt in the erosion of the integrity of our institutions, and its cost is borne collectively by taxpayers. Europeans consider corruption to be unacceptable. It is not acceptable to give money, give a gift, do a favour to get something from the public administration. Corruption undermines trust in the administration, alienating citizens from democracy, reducing compliance with law and obstructing the state from providing help when help is needed. And it’s expensive.

    Every year, corruption is estimated to cost the EU up to 6 % of its GDP. This is why it is so important that we step up our efforts to tackle it. In 2023, the Commission proposed to update the EU anti-corruption rules. The directive is now being negotiated. The Commission welcomes the Parliament’s ambition and values the positive progress made by the co‑legislators in the latest trilogue. It calls on the co‑legislators to agree on an ambitious outcome.

    I can assure you that this Commission is very committed to ensure democratic pluralism and strengthen integrity, transparency and anti-corruption policies in the EU. I remain fully available to hear your views as we work together to achieve this common goal. Thank you very much for your attention.

     
       

     

      Loránt Vincze, on behalf of the PPE Group. – Madam President, Madam Commissioner, dear colleagues, the European Parliament is under attack. We face external enemies who would like to see a weakened parliament. But there are also internal interests that oppose a strong, influential and increasingly relevant parliament.

    The EPP Group fully supports the ongoing judicial investigations and upholds the presumption of innocence for all individuals involved. The reputation of Parliament and several of its Members was tarnished three years ago. Yet there are still no indictments against any Members.

    Now, again, colleagues who signed a letter requesting 5G services in rural areas saw their names published in the press, even though they have not yet been questioned by the authorities. The headlines against them amount to public executions. This is unacceptable. We must defend the free mandate of the Members.

    The Belgian authorities must conduct their own investigation properly, without leaking partial information to the press or making ambiguous statements. The judicial saga surrounding Qatargate and the handling of the current investigation into Members by the Belgian authorities raised a number of questions. Therefore, the EPP Group calls for a hearing in the LIBE Committee, with the participation of the relevant Belgian authorities.

    Some colleagues will use this momentum as an argument to push for the implementation of the ethics body agreement. Colleagues, an outsourced ethics body cannot prevent wrongdoing or corruption, but it would compromise the independence of our Parliament. We must get it right. Parliament must withdraw from the ethics body and establish a firm, clear, robust and efficient internal mechanism to strengthen its integrity.

     
       

     

      Juan Fernando López Aguilar, en nombre del Grupo S&D. – Señora presidenta, señora comisaria, esta legislatura del Parlamento Europeo arranca como todas, obligada a aprender de sus experiencias, y particularmente de las malas. Lo hace con un compromiso de reforzar su integridad, su transparencia y su rendición de cuentas. ¿Por qué? Porque en la legislatura pasada tuvimos una mala experiencia con el llamado «Qatargate», que obligó a este Parlamento Europeo a tomar muy en serio la obligación de reforzar sus estándares de dación de cuentas y de transparencia.

    Exactamente por eso, negociamos y acordamos con el resto de las instituciones europeas, de acuerdo con la base jurídica que presta el artículo 295 del Tratado de Funcionamiento y el artículo 13 del Tratado de la Unión Europea, un acuerdo interinstitucional. Por tanto, ya está en plazo de cumplir el mandato adquirido por este Parlamento Europeo de reformar su Reglamento interno para poner de una vez en marcha un órgano ético que incorpore representantes de las instituciones, pero también cinco expertos independientes. Ellos ayudarán a compartir buenas prácticas y a elevar ese estándar de dación de cuentas del Parlamento Europeo.

    Esto se suma a la Directiva sobre la lucha contra la corrupción, que ya está en avanzada negociación con el Consejo, y a la Comisión Especial sobre el Escudo Europeo de la Democracia, que lanza un mensaje a los ciudadanos. No podemos perder la oportunidad de decir que tenemos que reformar el Reglamento del Parlamento Europeo, sin arrastrar los pies, para poner definitivamente en pie el órgano ético. Cuanto antes mejor.

     
       

     

      Fabrice Leggeri, au nom du groupe PfE. – Madame la Présidente, la démocratie, c’est le droit des peuples à choisir librement leurs dirigeants. Mais, en France, ce droit vient d’être bafoué. Marine Le Pen, cheffe de l’opposition et favorite de l’élection présidentielle, a été condamnée à l’inéligibilité avec exécution immédiate. Alors qu’il n’y a dans cette affaire ni corruption ni enrichissement personnel, le tribunal a pris une décision politique qui prive les Français de leur choix.

    L’état de droit suppose un droit au recours. Ici, la peine s’applique immédiatement, avant même tout jugement définitif. C’est une dérive sans précédent. L’Union européenne, toujours prompte à donner des leçons de démocratie, restera-t-elle silencieuse face à cette instrumentalisation de la justice? Nous ne laisserons pas la démocratie être confisquée.

     
       

     

      Mariusz Kamiński, w imieniu grupy ECR. – Szanowna Pani Komisarz! Opinia publiczna po raz kolejny zbulwersowana jest informacjami dotyczącymi afer korupcyjnych związanych z instytucjami unijnymi. Tym razem mamy do czynienia z nielegalnym lobbingiem na rzecz chińskiej firmy Huawei. Tak jak w przypadku wcześniejszych afer zamiast rzetelnej informacji, propozycji konkretnych rozwiązań na przyszłość mamy ogólnikową debatę o niczym. Establishment europejski nauczył się działać w cieniu, poza realnym nadzorem obywateli, w atmosferze bezkarności. Niedawno dowiedzieliśmy się od szefowej Prokuratury Europejskiej, że raport Olaf dotyczący udziału w aferze katarskiej wysokiego urzędnika Komisji Europejskiej był przed nią ukrywany. Urzędnik ten, mimo dostępnych dowodów, nadal pracuje w instytucjach unijnych. Komisja Europejska dalej milczy na temat zarzutu prania brudnych pieniędzy przez komisarza Reyndersa, do czego miało dochodzić podczas sprawowania przez niego funkcji.

    Trwające prace nad tzw. dyrektywą antykorupcyjną nie rozwiążą problemu korupcji w instytucjach unijnych, ponieważ dyrektywa adresowana jest do państw członkowskich. Można jednak za pomocą prostych rozwiązań zwiększyć przejrzystość działań Komisji Europejskiej. Wprowadźmy jawne, szczegółowe, składane pod rygorem odpowiedzialności karnej oświadczenia majątkowe dla komisarzy i dla wysokich rangą urzędników unijnych. Niech pokażą obywatelom, jakie mają majątki i jakie są źródła jego pochodzenia. Dość korupcji w Brukseli. Czas działać.

     
       

     

      Sandro Gozi, au nom du groupe Renew. – Madame la Présidente, chers collègues, respectons l’accord conclu sur l’organe chargé des questions d’éthique. Pacta sunt servanda. Je m’adresse au groupe PPE, au groupe ECR et au groupe des Patriotes pour l’Europe: il est temps de mettre fin à vos manœuvres d’obstruction. Avançons enfin sur la transparence et sur le rôle du Parlement dans l’organe chargé des questions d’éthique!

    Cet organe n’impose aucune limite excessive à notre liberté de mandat en tant que représentants élus. Toutes les décisions prises concernant l’établissement des normes communes le seront par consensus. Rien ne nous sera imposé sans notre consentement. Notre responsabilité est claire: renforcer la transparence pour restaurer la confiance. Les soupçons de corruption qui pèsent sur notre Parlement doivent être traités avec rigueur.

    Par ailleurs, je suis d’accord avec le représentant du PPE lorsqu’il affirme qu’il y a un point essentiel à ne jamais oublier, c’est que nous ne sommes ni des procureurs ni des juges, pas plus que ne l’est la presse. Ne mélangeons donc pas tout. Les enquêtes judiciaires suivent leur cours. Dans une démocratie, l’état de droit commence par la présomption d’innocence. Mes chers collègues, on ne protège pas la présomption d’innocence en s’opposant à plus de transparence.

    Tenir parole aujourd’hui sur l’organe interinstitutionnel chargé des questions d’éthique, c’est nous renforcer demain. C’est renforcer notre intégrité et notre crédibilité, mais aussi nous donner les moyens de défendre la dignité de chaque membre de cette institution.

     
       

     

      Daniel Freund, im Namen der Verts/ALE-Fraktion. – Frau Präsidentin, liebe Kolleginnen und Kollegen! Wieder wurden Türen versiegelt, wieder wurden Büros durchsucht, und wieder besteht der Verdacht, dass Europaabgeordnete sich haben schmieren lassen. Luxusreisen hier, Fußballtickets dort und dafür dann Gefälligkeiten für Huawei. Man hat ein gewisses Déjà Vu – wir haben das alles bei Kartar-Gate schon mal sehr ähnlich gesehen, und dabei wollten wir doch genau das verhindern. Wir wollten, dass die Regeln zur Korruptionsbekämpfung, zur Lobbykontrolle in diesem Haus endlich durchgesetzt werden. Denn genau deswegen passieren diese Korruptionsskandale ja: weil immer noch zu viele glauben, dass sie am Ende damit durchkommen und selbst wenn man geschnappt wird, es keine Strafen gibt.

    Ein unabhängiges Gremium, das Ethikgremium, war die zentrale Antwort dieses Hauses auf Katar-Gate. Um genau diese Probleme zu beheben, die Selbstkontrolle im Parlament ein Stück weit zu öffnen, die offensichtlich nicht funktioniert, haben wir dieses Gremium geschaffen. Vor über zehn Monaten schon ist die Einigung mit acht EU‑Institutionen ratifiziert worden, und passiert ist seitdem nichts.

    Wenn man jetzt mal guckt: Warum passiert nichts? Dann liegt das eben an der EVP, besonders an CDU/CSU. Ihr Vizepräsident beruft das erste Treffen nicht ein, zusammen mit den Rechtsaußenparteien haben Sie im Haushaltsausschuss dafür gestimmt, dass das Parlament seine Rechnungen einfach nicht mehr bezahlt, was das Ethikgremium angeht. Was ist denn das für ein Verständnis vom Rechtsstaat? Einfach die Rechnungen nicht zu bezahlen – das ist unfassbar!

    Also wenn Sie das Ethikgremium nicht wollen, wenn Sie die Regeln nicht wollen, dann sagen Sie das offen. Treten Sie da aus, aber blockieren Sie nicht einfach alles, was irgendwie mit Transparenz und Integrität zu tun hat.

     
       

     

      Manon Aubry, au nom du groupe The Left. – Chers collègues, entre les élus corrompus qui s’en mettent plein les poches en acceptant les cadeaux des lobbyistes et ceux qui détournent de l’argent public, comme Marine Le Pen, franchement, il y a de quoi dégoûter les gens de la politique.

    Ceux qui prônaient «Tête haute, mains propres!» ont aujourd’hui la tête baissée et les mains sales. Ceux qui demandaient l’impunité zéro pour les délinquants se retrouvent pris à leur propre jeu et la main dans le sac. Ceux qui étaient les premiers à voler au secours de Viktor Orban en appellent soudainement à l’état de droit. J’avoue qu’il est assez savoureux d’entendre l’extrême droite parler d’état de droit. Vous demanderez certainement encore à votre copain Elon Musk de voler à votre secours?

    Mais en réalité, le problème est encore plus large. En France, dans mon pays, 26 ministres sont impliqués dans des affaires depuis 2017, et au Parlement européen les scandales se succèdent les uns après les autres, sans que cela suscite la moindre émotion.

    Deux ans après les valises de billets du Qatar, place maintenant aux cadeaux luxueux et aux virements bancaires de la multinationale Huawei, que vous n’osez même pas citer dans le titre de ce débat. C’est le retour des perquisitions, des bureaux scellés et des enquêtes révélant des pratiques mafieuses. Ce n’est pas une série Netflix, c’est juste l’état de notre démocratie.

    Et que s’est-il passé entre ces deux affaires? Rien. Tout juste quelques mesurettes. Circulez, il n’y a rien à voir. Tout le monde ici se tient par la barbichette pour se protéger et, surtout, ne rien changer.

    Mais vous pourrez compter sur mon groupe et moi pour continuer à dénoncer ces magouilles et tout changer, de la cave au grenier. Il est temps de faire le ménage et d’enfin faire primer l’éthique sur le fric.

     
       

     

      Marcin Sypniewski, w imieniu grupy ESN. – Patrzę na wasze działania i temat debaty i czuję się, jakby już był „Prima Aprilis”. Pluralizm, transparentność i walka z korupcją to ważne i potrzebne idee. Szkoda tylko, że Komisja Europejska i Parlament Europejski postępują dokładnie odwrotnie. Mówicie o pluralizmie i o demokracji, a kibicujecie usuwaniu z wyborów liderów sondaży, nie dopuszczacie prawicowych grup do prowadzenia komisji czy obrad parlamentu. Nawet podczas węgierskiej prezydencji posuwaliście się nawet do drobnych złośliwości jak dzieci w przedszkolu, nie szanując i nie zachowując neutralności.

    Mówicie o transparentności, ale obywatele nie mają żadnego wpływu na działania Unii Europejskiej tak naprawdę. A przewodnicząca Komisji Europejskiej toczy boje o ukrycie smsów, w których negocjowała z Pfizerem umowę na szczepionki. Mówicie o walce z korupcją, podczas gdy znowu pod waszym nosem wybucha kolejna afera korupcyjna. To wszystko skutek nadmiaru władzy urzędników. Przecież ludzie, którzy do tego doprowadzili, nagle się z tego nie wycofają. Prawdziwa zmiana, prawdziwa transparentność będzie wtedy, jak odbierzemy władzę urzędnikom i oddamy ją obywatelom. Niech żyje wolność!

     
       

     

      Javier Zarzalejos (PPE). – Señora presidenta, señora comisaria, el Parlamento Europeo es una institución muy importante pero no es una isla. Hablamos de los problemas que afectan a la transparencia en el Parlamento Europeo pero no podemos olvidarnos del contexto, y ese contexto hoy exige que la Unión Europea sea cada vez más visible y tenga una intervención creciente en las políticas contra la corrupción.

    En primer lugar, porque hay demasiados Gobiernos que en la Unión Europea están luchando para zafarse de controles democráticos, demasiados Gobiernos que proponen leyes ad hoc para interferir en los procesos judiciales que afectan a corruptos, demasiados Gobiernos que hacen un uso partidista de la fiscalía.

    En segundo lugar, porque Europol nos está advirtiendo día tras día, informe tras informe, de un riesgo creciente de infiltración de la delincuencia organizada en la economía real. Y eso tiene una traducción, que es la corrupción: corrupción de los servidores públicos, corrupción de nuestras empresas, corrupción de los legisladores.

    Y, en tercer lugar, porque con estas premisas se está intentando generar una cultura de impunidad y, por eso, nosotros, desde el Grupo del Partido Popular Europeo, y representando además también a una voz muy mayoritaria del Parlamento, nos hemos opuesto a los indultos, a las amnistías a los corruptos, a reformas legislativas que suprimen o aligeran la penalización de los delitos de corrupción.

    Ese tiene que ser un compromiso —insisto— creciente y visible de la Unión Europea.

     
       

     

      Chloé Ridel (S&D). – Madame la Présidente, on pensait avoir retenu les leçons du «Qatargate», mais non: c’est le retour des scellés au Parlement européen. L’enquête autour de l’affaire Huawei révèle que des députés auraient accepté entre 1 500 et 15 000 euros pour signer un courrier favorable à Huawei, qui qualifiait la régulation européenne de la 5G de racisme technologique contre la Chine. Côté Huawei, on assume. D’ailleurs, on paye même pour des amendements, disent-ils.

    Je n’ai pas de mots assez forts pour exprimer mon dégoût face à la corruption et à la cupidité de certains députés de cet hémicycle. Ils entachent l’image de notre institution et sapent encore un peu plus la confiance que les gens accordent à leurs représentants politiques.

    Dans cette affaire, la corruption arrive par un ancien assistant parlementaire parti travailler chez Huawei. Pourrait-on savoir en toute transparence combien d’anciens collaborateurs, députés, commissaires sont partis travailler chez Huawei? Ensuite, nous voulons que le nouvel organe de l’UE chargé des questions d’éthique, qui semble tant déranger la droite et l’extrême droite de cet hémicycle, soit enfin créé. Enfin, il faut donner les moyens aux règles que nous nous fixons d’être appliquées. Il faut donc renforcer la justice et le Parquet européen en étendant enfin son domaine de compétence aux affaires de corruption.

    (L’oratrice accepte une question carton bleu)

     
       

     

      João Oliveira (The Left), Pergunta segundo o procedimento «cartão azul». – Senhora Presidente, Senhora Deputada Ridel, cada vez que há um problema de corrupção, há uma tentação de pôr todo o Parlamento e todos os deputados sob suspeita. De resto, uma situação que é aproveitada pela extrema-direita para fazer o seu circo.

    E a pergunta que lhe quero fazer é esta: a senhora deputada não considera que, perante qualquer circunstância de suspeita de corrupção, quem deve estar no banco dos réus é o poder económico, são as multinacionais e quem serve essas multinacionais a partir do poder político? Em vez de se lançar lama e suspeição sobre toda a gente, não devíamos concentrarmo-nos naqueles que são verdadeiramente os promotores e os beneficiários da corrupção, que são os grandes interesses económicos?

     
       

     

      Chloé Ridel (S&D), réponse carton bleu. – Je ne suis pas totalement en désaccord avec vous, mais la corruption a toujours besoin d’au moins deux personnes, d’au moins deux parties pour advenir – ici les multinationales d’un côté, vous avez raison, et les représentants politiques de l’autre.

    Il faut donc que nous soyons irréprochables et capables de résister au lobbying des multinationales – qu’il s’agirait d’encadrer davantage, d’ailleurs –, et même au-delà, puisque cette affaire nous montre que, derrière la multinationale Huawei, il y a l’État chinois. Il faut donc que nos règles de transparence prennent aussi en compte le pouvoir d’influençage des États étrangers.

    Je maintiens par ailleurs mon propos, et je le redis: toute affaire de corruption, même si elle ne concerne que quelques élus de cet hémicycle, entache l’image de l’ensemble de notre institution.

     
       

     

      Csaba Dömötör (PfE). – Tisztelt Elnök Asszony! Rendben, akkor beszéljünk az átláthatóságról! A Bizottság eurómilliókkal finanszíroz olyan civilnek mondott szervezeteket, amelyek valójában politikai tevékenységet végeznek.

    De ha valaki egy átfogó adatbázist szeretne ezekről, akkor hiába keresné. Mindezek miatt adatigényléssel fordultunk a Bizottsághoz. Egy egyszerű listát kértünk: mely NGO-kat finanszíroznak, milyen célból és mekkora összeggel?

    Megérkeztek a válaszok. A bizottság nem hajlandó kiadni ezeket a listákat. Azzal érvelnek, hogy túl tág a kért adatok köre, azzal hogy minden fenn van a neten – ami nem igaz egyébként –, és nem konkrét szerződéseket kértünk, hanem információt, ami egy abszurd érvelés.

    A szerződések száma úgy tudjuk, hogy meghaladja a tízezret. Talán nem mindenki tudja, de pár EP képviselő itt ebben a házban, a Költségvetési ellenőrző bizottságban megkapta a listákat, de azt mondták nekik, hogy ezeket nem hozhatják nyilvánosságra. Miért? Mit titkolnak?

    A Patrióta frakció ezt nem hagyja annyiban, ha kell, perre is visszük ezt az egészet. Addig is annyit mondunk: ha akarnak valamit tenni a politikai korrupció ellen, akkor kezdjék odahaza, hozzák nyilvánosságra a támogatott szervezetek listáját.

    (A felszólaló hajlandó válaszolni egy kékkártyás kérdésre)

     
       


     

      Csaba Dömötör (PfE), kékkártyás válasz. – A magyar miniszterelnök minden bizonnyal arra utalt, hogy politikai okokból egyre több esélyes jelölt indulását próbálják meg ellehetetleníteni. És nem csak Franciaország az egyetlen ilyen ország. A példákat hosszasan tudnánk sorolni.

    Nos, ami a magyarországi helyzetet illeti. Az a helyzet, hogy Magyarországon intenzív viták vannak azzal kapcsolatban, hogy a magyar állam kikkel köt szerződést, kiket támogat. Ennek az az oka, hogy Magyarországon az ilyen szerződések nyilvánosak, a minisztériumok az ilyen szerződéseket rendszeresen közzéteszik.

    Ezzel szemben az Európai Bizottság azt a listát sem teszi közzé, hogy kiket támogat és mekkora összeggel, és amikor arról van szó, hogy vitázni kellene Reynders biztos korrupciós botrányáról, akkor azt nem engedik napirendre.

     
       

     

      Stefano Cavedagna (ECR). – Signora Presidente, onorevoli colleghi, ero indeciso se intervenire al dibattito di quest’oggi, perché mi sembra largamente una farsa per quello che sta accadendo.

    Si parlerebbe di pluralismo democratico e di politiche anticorruzione in Europa. Eppure, qualche settimana fa, sono state annullate le elezioni in Romania: un candidato è stato escluso dalla corsa, quando era peraltro primo tra tutti i sondaggi. Vi sembra per voi questo pluralismo democratico?

    Il commissario Breton, qualche settimana fa, è entrato nelle elezioni tedesche dicendo che, se fosse stato eletto un partito che a lui non piace, probabilmente avrebbe chiesto di annullare queste elezioni. È per voi questa una scelta di pluralismo democratico?

    In Francia, Marine Le Pen oggi viene dichiarata ineleggibile per cinque anni senza avere un grado definitivo di giudizio, quindi neanche la sua possibilità di fare appello o ricorso alla sentenza che è arrivata, eppure già la sentenza politica è definitiva. È per voi questa una scelta di pluralismo democratico?

    E allora no, parliamo di corruzione! La corruzione, purtroppo, è troppo spesso all’interno di questi palazzi; lo abbiamo visto col caso del Qatargate – a dire il vero per colpa, largamente, di deputati che fanno parte dell’area di sinistra. Soldi per dire che le donne sono rispettate in Qatar.

    Noi lavoriamo per un’Europa diversa, dove non ci sia corruzione, ci sia libertà e non si abbia paura di quello che scaturisce dalle elezioni democratiche.

     
       

     

      Nikola Minchev (Renew). – Madam President, Commissioner, dear colleagues, pluralism is the lifeblood of a real democracy. Without pluralism, there is no democracy. But in order to preserve it and strengthen it, we need to emphasise the importance of media freedom and media pluralism. They are essential to our democracies. They are enshrined in the Charter of Fundamental Rights. They are key to holding power to account and to helping citizens make informed decisions.

    On the anti-corruption agenda, regrettably, we have seen in EU Member States how brokers of influence in the judiciary, brokers of employment in the judiciary, brokers of justice pull the strings in the shadows of a nominally functioning judiciary. This is intolerable. We should be very clear: impaired independence equals no independence; selective justice equals no justice.

    A key issue remains the lack of consistent results in cases of corruption at the highest levels of power. However, the EPPO is now investigating a potential such case in Bulgaria, and I urge both this House and the Commission to closely monitor this case.

     
       

     

      Reinier Van Lanschot (Verts/ALE). – Madam President, dear colleagues, the biggest corruption scandal in the history of the European Parliament: for over 12 years, Marine Le Pen and 24 others systematically stole more than EUR 4 million from the EU. They used it to grow their far-right party in France. Today they faced justice.

    It’s a great day. Not because a far-right politician can no longer run for the French presidency, but because an independent judge was able to rise above all the political considerations to make sure no one is above the law. In today’s world, where more and more wannabe dictators attack judges, it shows that the separation of power still stands strong, and that in Europe the law applies to everyone equally.

    But every time there is a scandal – a Qatar-, Huawei- or Le Pen-gate – our Parliament becomes more famous for its weakest links, and I’m sick of it. So to my colleagues on the right who block new transparency rules, I say: Do not stop these rules. Stop corruption instead!

     
       

     

      Konstantinos Arvanitis (The Left). – Κυρία Πρόεδρε, καταρχήν σήμερα ακούσαμε εδώ ότι αμφισβητείται και η γαλλική δικαιοσύνη. Στο Ευρωκοινοβούλιο τελικά ποτέ δεν πλήττεις. Και στην Ευρωπαϊκή Ένωση, μόλις έφυγε η σκόνη από το Qatargate· και θυμίζω για κάποιους που το έχουν ξεχάσει ότι ήταν εμπλεκόμενες χώρες, υπάλληλοι, ευρωβουλευτές, καθώς και η Αντιπρόεδρος. Ήρθε δυναμικά το σκάνδαλο της κινεζικής τηλεφωνίας, και πριν καλά καλά αρχίσουμε να συζητάμε, μας ήρθε και ένα νέο κακό: η απόφαση του γαλλικού δικαστηρίου για την κυρία Λεπέν, την οποία προσπαθούν κάποιοι να δικαιολογήσουν.

    Σαν πολλές δεν είναι αυτές οι συμπτώσεις ή τα ατυχή γεγονότα για το σύστημα; Ποιες είναι αυτές οι δυνάμεις, οι οποίες στην αρχική ανάγνωση συμφωνούν στην ανάγκη ουσιαστικών μέτρων θωράκισης, αλλά στην πορεία ξεχνούν; Σας θυμίζω ότι στο προηγούμενο σκάνδαλο Qatargate η Αριστερά είχε κάνει συγκεκριμένες και ρεαλιστικές προτάσεις. Σας καλώ να ξαναδιαβάσετε παραδειγματικά τον κώδικα. Είχαμε ζητήσει να απαγορεύεται στους πρώην ευρωβουλευτές αμέσως μετά τη θητεία τους να εργάζονται σε σχετικά λόμπι. Ούτε αυτό έγινε. Και δεν το λες και επανάσταση! Εμείς θεωρούμε λοιπόν ότι το σύστημα είναι σάπιο, υπάρχει δυσοσμία και πρέπει να αλλάξει. Ας ανοίξετε τουλάχιστον κάποιο παράθυρο, έτσι για τα προσχήματα.

     
       

       

    IN THE CHAIR: SOPHIE WILMÈS
    Vice-President

     
       

     

      Mary Khan (ESN). – Frau Präsidentin! Stellen Sie sich vor, Viktor Orbán würde mit einem abgewählten Parlament die Verfassung ändern. Stellen Sie sich vor, er würde eine halbe Stunde nach der Wahl sämtliche Wahlversprechen brechen, die er eine Stunde zuvor noch gegeben hat. Und stellen Sie sich vor, Viktor Orbán würde seinen Mitbürgern das Wahlrecht entziehen, wenn sie sich regierungskritisch äußern – was wäre hier los in diesem Haus! Ein Aufschrei, Revolution, Tränen auf allen Bänken, Sanktionen wären längst beschlossen, denn die Demokratie sei in Gefahr.

    Genau das passiert gerade in Deutschland. Ein abgewähltes Parlament verändert das Grundgesetz, verschuldet Generationen und hebelt demokratische Prinzipien aus, und hier im Haus – Schweigen. Weil es Ihrer Agenda dient, weil es nicht die falschen Parteien trifft, sondern genau die Stimmen, die Sie mundtot machen wollen. Wieder einmal zeigt sich: Die EU liebt die Demokratie und ihre Bürger nur, wenn sie links und bunt sind.

     
       

     

      Katarína Roth Neveďalová (NI). – Vážená pani predsedajúca, tak počúvam, tak tu počúvame rôzne veci, ktoré sa tu rozprávajú, ale ja si myslím, že čo je najdôležitejšie je nastaviť znova dôveru v inštitúcie aj EÚ, nie ďalšími orgánmi, ale tým, že budeme dôkladne vyšetrovať to, čo sa stalo, a že jednotlivci, ktorí sú zodpovední, sa dočkajú spravodlivosti. A to znamená aj pri Pfizergate a pri smskách pani predsedníčky Európskej komisie.

    Nepotrebujeme ďalšie orgány. Potrebujeme, aby fungovalo to, čo funguje, a musíme to všetko brať ako individuálne zlyhania. Ja nechcem, aby sme my ako európska inštitúcia hovorili, že teraz to je všetko zlé, a preto potrebujeme všetko prekopávať, lebo naozaj je to individuálne zlyhanie. A takisto nie sme my ani prokurátori, ani sudcovia, ani kati, aby sme hovorili, čo sa má stať, a nechajme to všetko na vyšetrenie zodpovedných orgánov. Nenaháňajme bosorky, dodržujme pravidlá, neosočujme sa navzájom, ale robme si svoju prácu a kontrolujme hlavne Európsku komisiu.

    Myslím si, že nie nové európske orgány pre etiku by mali byť v tomto Parlamente, ale mali by sme napríklad dôslednejšie sledovať to, čo sa deje v Európskej komisii, ktorí ľudia sú za čo zodpovední a takisto hlavne ako fungujú mimovládky v Európskej únii, ktoré získavajú peniaze z európskych zdrojov a nie sú ochotné informovať o svojej činnosti. To je to, kde by sme mali začať, nielen zelené mimovládky, ale napríklad aj taká Transparency International.

     
       

     

      Romana Tomc (PPE). – Gospa predsednica! Spoštovana gospa komisarka. Ko govorimo o demokraciji, integriteti in preglednosti in o boju proti korupciji, ne morem mimo slovenskega primera.

    Dragi kolegi! Slovenski parlament ne deluje po načelu demokracije, ampak izrablja svojo premoč za utišanje opozicije. Predsednica izreka opomine. Koalicija enostavno odvzame besedo opozicijskim poslancem. Veliko pove tudi dejstvo, da je velika večina …

    (Predsedujoča je prekinila govornico in pojasnila, da ni na voljo tolmačenja v angleščino.)

    Ko govorimo o demokraciji, integriteti, preglednosti in boju proti korupciji v Evropski uniji, ne moremo mimo slovenskega primera.

    Dragi kolegi! Slovenski parlament ne deluje po načelu demokracije, ampak izrablja svojo premoč za utišanje opozicije. Predsednica izreka opomine. Koalicija enostavno odvzame besedo opozicijskim poslancem, kadar jim kaj ni všeč, kar govorijo. Veliko pove tudi dejstvo, da je velika večina sej parlamenta sklicanih izredno, zakoni pa se sprejemajo po hitrem postopku.

    Imamo odlično zakonodajo s pomočjo… zakonodajo s področja korupcije, vendar korupcija še vseeno cveti, je prisotna v velikem obsegu. To zaznava tudi OECD. Seveda z vladnimi politiki in predsednikom vlade na čelu.

    Sprašujem se, seveda, kolegi, kdaj bo Evropska komisija, kdaj bodo naše institucije delovale z istimi merili za vse države.

     
       


     

      Nikola Bartůšek (PfE). – Paní předsedající, dámy a pánové, Pfizergate, korupční skandál Huawei, tajné smlouvy o rozdělení peněz pro média, podplácení neziskových organizací – to jsou konkrétní korupční skandály, které otřásly tímto Parlamentem i Evropskou komisí. Jak můžeme brát prohlášení o potřebě větší integrity, transparentnosti a boji proti korupci vážně? Demokratický pluralismus, který dnes vyzýváme, ve skutečnosti v této instituci neexistuje. Byl nahrazen ideologickým diktátem a vymezováním se proti těm, kteří si dovolí mít vlastní názor. Tváříte se, že hájíte demokracii a přitom umlčujete miliony voličů jen proto, že nezapadají do jediné povolené šablony. A když už se mluví o transparentnosti: Kde jsou smlouvy s Pfizerem a SMS, které rozhodly o zakázce za miliardy? Proč bylo několik týdnů před volbami rozděleno přes 100 milionů eur médiím? Evropští občané si zaslouží znát pravdu. Chtějí, aby Evropská unie byla prostor spravedlnosti, ne pokrytectví. Pokud to s bojem proti korupci a demokracií myslíte opravdu vážně, začněte prosím u sebe a přestaňte vylučovat ty, kteří chtějí Evropu bezpečnější, suverénnější a skutečně demokratickou.

     
       

     

      Luis-Vicențiu Lazarus (NI). – Doamnă președintă, doamnă comisar, am reținut două idei importante din discursul dumneavoastră și anume că democrația reprezentativă este bazată numai pe alegeri libere și că cetățenii trebuie să se informeze – chiar e dreptul lor – dintr-o pluralitate de surse. Și dacă v-aș spune că exact în România, țara de unde vin eu, aceste două principii fundamentale nu sunt respectate nicidecum!?

    Pentru că, așa cum probabil știți, România este țara care a realizat ceva spectaculos: în 1989, a reușit să-și achite toate datoriile. Astăzi, după 35 de ani – și ea era o dictatură – de democrație avem 210 miliarde datorii. Cum s-a ajuns la această situație? Din cauza politicienilor corupți, mincinoși și care, desigur, nu au respectat nimic, nici măcar democrația.

    Deci ce democrație era aceasta? Nu era o democrație, era o dictatură cu mănuși. Era o dictatură care, atunci când a văzut că pierde alegerile, a anulat alegerile, a interzis candidații, și-a dat mănușile jos, a făcut praf Constituția și a luat poporul la pumni, în sensul că a trimis organele de coerciție dimineața să aresteze oameni și să îi percheziționeze, pentru că au avut tupeul să-și aleagă pe cineva care chiar câștigase alegerile.

     
       

     

      Sven Simon (PPE). – Madam President, colleagues, the European Union was founded on the rule of law, which means there are clear rules on how to deal with crimes. The following order needs to be applied: suspicion, investigation, Indictment and then, if necessary, conviction.

    We often follow the process in the reversed order. But the fight for the rule of law can only be successfully waged if it is carried out using constitutional means. This includes the presumption of innocence, the separation of powers, and the immunity of Members of Parliament, which should be lifted in a legally sound procedure if there is cause to do so.

    Where the rule of law is applied, it is also clear which institutions prosecute crimes: the police, the Public Prosecutor’s Office and, at the European level, OLAF and EPPO. Parliament must cooperate with these authorities and, if necessary, initiate its own investigations. However, this must also be done with within the framework of legal procedures.

    In another case, the European Court of Justice has just confirmed that we have some catching up to do in our own House when it comes to legal procedures. Today, we discuss allegations again, although I would like to know what actually happened to the allegations of the past – Kaili, Krah, von der Leyen. Always the same pattern: accusation, arrest and then what is the outcome of this allegation?

    By the way, the current case, like all the others, has nothing to do with morals or ethics. The accusation here is a criminal offence. And, as I said, we have OLAF, EPPO and the national authorities to investigate. They should now do their work and while they do, we should do our best to avoid giving the impression that the European Union is a corrupt institution. It is not.

    (The speaker agreed to take a blue-card question)

     
       

     

      Daniel Freund (Verts/ALE), Frage nach dem Verfahren der „blauen Karte“. – Herr Simon, Sie haben jetzt gerade viel vom Rechtsstaat gesprochen. Gehört zum Rechtsstaat aber nicht auch, dass man sich an eine Vereinbarung zwischen acht EU‑Institutionen, die geschlossen und ratifiziert ist, hält? Gehört zum Rechtsstaat nicht auch, dass man eine Rechnung, die aus dieser Abmachung resultiert, dann auch bezahlt? Ist denn dann im Rechtsstaat nicht der Weg, dass man, wenn man eine Vereinbarung nicht mag, einen Antrag stellt, dieses Abkommen zu verlassen, anstatt auf merkwürdigste Weise sich einfach nicht an geltendes Recht zu halten?

     
       



     

      Thierry Mariani (PfE). – Madame la Présidente, la veille du 1er avril la Commission a décidé d’organiser un débat sur le pluralisme démocratique. Franchement, vous avez le goût de l’humour et du calendrier: commencez d’abord par réagir au scandale de la condamnation de Marine Le Pen.

    Je m’étonne que la Commission, toujours prompte à dénoncer les abus du monde, soit aussi silencieuse quand le marteau de l’injustice frappe, sur notre continent, pour empêcher la démocratie de s’exprimer. En France aujourd’hui comme hier en Roumanie ou aux États-Unis, la justice est devenue l’outil favori d’une oligarchie qui agit contre les peuples. En France, elle vient de bâillonner la voix de 11 millions de Français, alors que tous les sondages sérieux placent Marine Le Pen largement en tête de la prochaine élection présidentielle. Il s’agit d’un assassinat politique pur et simple, d’une grave entrave à la vie démocratique, et dont le retentissement européen est certain.

    Nous voyons d’ailleurs que Bruxelles pose un regard malicieux sur toutes ces condamnations puisqu’elles sont ses assurances-vie. Arrêtez d’applaudir les censeurs du peuple et occupez-vous des vrais tricheurs, ceux de votre majorité, ceux du «Qatargate». Vous parlez de pluralisme démocratique? Moi, je vois un totalitarisme qui avance.

     
       

     

      András László (PfE). – Azért nem kicsit ironikus, amikor a brüsszeli elit a demokrácia, az átláthatóság és a korrupció miatt aggódik. Vegyük őket sorra! Demokrácia: már a sokadik népszerű jobboldali politikust próbálják jogi úton ellehetetleníteni, most éppen Marine Le Pent. Miért? Mert patrióta, mert ellene megy a globalista elitnek, és azért, mert ő a legesélyesebb elnökjelölt. Átláthatóság: az Európai Bizottság még mindig nem hozta nyilvánosságra sem a vakcinaszerződést, sem az azt előkészítő sms-eit Ursula von der Leyennek. Korrupció: Amerikában a legnagyobb korrupciós rendszert leplezik éppen le, ami a USAID köré épült fel.

    Viszont az ál-NGO-k és a balliberális média finanszírozásában az EU is nyakig benne van. A baloldal pedig hisztérikusan reagál, ha a magukat civilnek hazudó szervezetek finanszírozását valaki számon kéri. A néppárti, szocialista vagy épp liberális képviselők és európai biztosok korrupciós ügyeiből pedig már annyi van, hogy felsorolni sincs idő.

    Változás kell Brüsszelben! A korrupt, globalista elitet a patrióták fogják lecserélni.

     
       

       

    Catch-the-eye procedure

     
       



     

      João Oliveira (The Left). – Senhora Presidente, a raiz da corrupção está na natureza da política que é feita e nos interesses que serve.

    Uma política que esteja ao serviço dos trabalhadores e dos povos não dá espaço à corrupção. Pelo contrário, é a política que serve os interesses económicos e as multinacionais que é a raiz da corrupção, da promiscuidade, do tráfico de influências, das ligações entre o poder político e o poder económico que minam os fundamentos da democracia e a credibilidade das suas instituições.

    A resposta a dar à corrupção não pode ser o lançamento da suspeita generalizada, como se todos os eleitos e responsáveis políticos tivessem as mesmas opções e comportamentos. Esse é um discurso errado, que é o discurso que serve à extrema-direita. Não, os políticos não são todos iguais. Há uns que se colocam ao serviço do poder económico e das multinacionais, incluindo a extrema-direita.

    Por muito que tentem disfarçar, a extrema-direita é a tropa de choque do poder político corrupto ao serviço dos grupos económicos e das multinacionais. E vamos continuar a denunciá-los e a dar-lhes combate.

    A resposta a dar à corrupção tem de ser essa: a da denúncia do combate a quem desvirtua o voto do povo para se pôr ao serviço do poder económico.

     
       

     

      Fidias Panayiotou (NI). – Madam President, hello friends, I’m quite proud to say that the European Parliament is very transparent. And you can all, all the people, the European citizens and everyone in the world, they can go in the website and they can find our salaries, they can find how much budget we are allowed to use, how much money we can spend, and this is very good. It builds trust and it’s transparent. And it also builds expectations for the citizens.

    But I’m unhappy because the European Commission doesn’t have the same procedure. When you go to the Commissioners, you cannot see the salaries of the staff, how much budget they have and all this stuff. So this is not as transparent the European Commission. So I encourage the European Commission to be like the European Parliament, a lot more transparent, because this will build a lot of trust. I love you all.

     
       

       

    (End of catch-the-eye procedure)

     
       


     

      President. – Thank you, Commissioner. The debate is closed.

     

    18. Common data platform on chemicals, establishing a monitoring and outlook framework for chemicals (short presentation)


     

      Dimitris Tsiodras, rapporteur. – Madam President, dear colleagues, dear Commissioner, the ‘one substance, one assessment’ approach, comprising three legislative reports, is not just a technical reform; it is a fundamental shift in how we assess chemical safety.

    This approach ensures faster and more effective protection for our citizens and the environment, while supporting industry innovation and competitiveness. It constitutes a significant step towards a stronger, more transparent and more efficient chemicals policy in the EU.

    These three pieces of legislation will ensure that the relevant regulatory actions will be faster, simpler and more transparent. They will increase the predictability to stakeholders while safeguarding the protection of intellectual property rights. At the same time, they will ensure that citizens and the environment are better protected from hazardous chemicals.

    We have worked hard to strike the right balance, simplifying procedures, reducing administrative burdens and streamlining assessments while maintaining scientific rigour. This common data platform will serve as a one-stop shop for chemical data from various sources, enhancing transparency and accessibility as well as reducing duplication. We have ensured that the platform streamlines independent scientific work and academic research while centralising hazard information.

    Additionally, we promote the reuse of existing data to reduce costs, minimise administrative burdens and limit reliance on animal testing. At the same time, we must guarantee the protection of intellectual property rights and commercially sensitive data. Aiming for maximum transparency, we must also adhere to the principle of ‘as open as possible, as closed as necessary’, ensuring that companies can continue investing in research and innovation without the risk of unfair competition. The regulatory framework must not impose unnecessary burden on businesses, particularly SMEs, nor expose proprietary data in ways that could undermine European industry.

    Let me be clear, the common data platform is a major step forward in assessing chemical safety and reinforcing consumer protection. It will centralise scientific information, benefiting both public health and industry.

    We also support the harmonisation of chemical assessments across different agencies. This package strengthens cooperation, increases efficiency, enhances predictability and eliminates costly duplications, benefiting both EU citizens and businesses.

    Of course, challenges remain. And that is why we continue to refine the text in the context of the very collaboration with the political groups, the European Commission and the Council.

    Dear colleagues, by adopting these measures, we will strengthen protection for citizens and the environment while maintaining Europe’s leadership in innovation and sustainability. I am confident that, with our collective commitment, we can achieve this ambitious, necessary goal. I strongly urge you to vote in favour of this report so that we can deliver a stronger, smarter and more sustainable EU chemicals policy.

     
       

       

    Catch-the-eye procedure

     
       

     

      Christophe Clergeau (S&D). – Madame la Présidente, Madame la Commissaire, je crois qu’avec ce rapport – et je remercie M. Tsiodras pour le très bon travail qui a été fait collectivement – nous avons fait deux pas importants: l’un qui nous permettra de disposer d’une base de données complète pour procéder à l’évaluation des risques chimiques, et l’autre vers une ouverture de cette base de données à des données provenant non seulement des industriels, mais aussi des autorités nationales, du monde de la recherche et de la société civile. Ce sera très important tant pour l’évaluation des risques que pour la protection de la santé.

    Mais ce ne sont que deux premiers pas. Il nous reste beaucoup d’autres choses à faire. Une des priorités absolues, Madame la Commissaire, doit être de renforcer les moyens de l’Agence européenne des produits chimiques, non seulement au moyen de financements privés, mais aussi avec le budget propre de la Commission européenne, de sorte que l’Agence puisse faire son travail dans les meilleures conditions.

    D’autres étapes seront nécessaires à ce que nous puissions disposer de données encore plus complètes et à ce que nous puissions enfin croiser les données sur les produits chimiques et celles sur la santé humaine. Ainsi pourrons-nous comprendre l’explosion des maladies chroniques que nous observons actuellement et mieux protéger la santé des Européens.

     
       


     

      Sebastian Tynkkynen (ECR). – Madam President, I stand here as a voice for citizens like those in Finland, who value their country’s independence.

    These proposals – centralising chemical data collection, reassigning tasks to the EU level, and thus empowering the European Chemicals Agency over local actors – strip away control from Member States.

    Member States, with their unique industries and features, deserve to make their own decisions – not to follow a one-size-fits-all EU uniform that fits no one properly.

    We have seen enough to say that EU centralisation often ignores local needs, adds bureaucracy and takes power away from where it should be: close to the people.

    I urge you to protect national sovereignty and reject those measures that undermine Member States’ rights to govern themselves.

     
       

       

    (End of catch-the-eye procedure)

     
       

     

      Jessika Roswall, Member of the Commission. – Madam President, honourable Members, thank you for inviting me to give this short presentation on the one substance, one assessment package. And while we have, Madam President, three presentations on the agenda this evening, I will cover all my main points in this initial statement.

    This is clearly a package that contributes to our simplification agenda. The three legislative proposals on the package consolidate scientific and technical work on chemicals in the EU agencies. They also improve cooperation and ensure that agencies can use all data available to them in the safety assessment of chemicals. This package is part of the one Substance, one assessment. It will improve the efficiency and the coherence of safety assessments of chemicals in the benefit of all. Our objective is to simplify procedures and ensure predictability for authorities and stakeholders. Most importantly, we want to protect citizens and the environment from hazardous chemicals.

    I welcome Parliament’s strong interest in this legislative package, and thank you, honourable Member Tsiodras, for the important work and constructive discussions on this report. Many of the proposed amendments bring clarification, which we welcome. We are also happy to see that you addressed the comments made by the European Data Protection Supervisor to better safeguard the protection of personal data. At the same time, we believe there are some points that require further discussion.

    On the regulation establishing a common data platform on chemicals, your amendments propose a substantial broadening of the scope. You also suggest implementing the system within eight years, compared to the ten years initially proposed by the Commission. While we appreciate the ambition and acknowledge the importance of the proposed amendments, we would like to highlight that an expansion of the scope would have notable implications on the capacity and resources of the European Chemicals Agency. At the same time, they have a lot of tasks already. That was also a question from Mr Clergeau, regarding the capacities of the ECHA Committee, and that will be addressed in a special proposal for the basic regulation, which is under preparation as we speak.

    Concerning the directive amendment, the Restricting of Hazardous Substances in Electrical and Electronic Equipment Directive, we take note of your proposal to adopt a delegate act on exemptions within six months of receiving the European Chemical Agency’s opinion. In the light of the number of exemptions typically typically processed and procedural requirements for adopting delegated acts, we note that six month deadline will be difficult to accommodate in practice, so we should avoid putting such short deadlines.

    The proposal to review the list of restricted substances at least every 36 months would also be difficult to align with in current practice, as each review currently requires close to that timeline to complete.

    Dear President, honourable Members, the Commission stands ready to support co-legislators to reach an agreement on this package. The changes proposed by the Council are largely in line with the Parliament’s amendments. I’m therefore hopeful that a political agreement can be reached within a swift manner.

    I would like to renew my commitment as to act as an honest broker and help to reach the necessary compromises.

     
       

     

      President. – Thank you. The debate is closed. The vote will be held tomorrow.

     

    19. Re-attribution of scientific and technical tasks to the European Chemicals Agency (short presentation)


     

      Δημήτρης Τσιόδρας, εισηγητής. – Κυρία Πρόεδρε, αύριο ψηφίζουμε, αγαπητοί συνάδελφοι, μια κρίσιμη οδηγία που θα ενισχύσει σημαντικά τον ρόλο του Ευρωπαϊκού Οργανισμού Χημικών Προϊόντων (ECHA) στη διασφάλιση της ασφαλούς διαχείρισης των χημικών ουσιών στην Ευρωπαϊκή Ένωση. Ο επαναπροσδιορισμός των επιστημονικών και τεχνικών αρμοδιοτήτων αποτελεί ένα βήμα προς μεγαλύτερη αποδοτικότητα, διαφάνεια και επιστημονική εγκυρότητα στις αξιολογήσεις και τη διαχείριση των χημικών ουσιών, ώστε να ανταποκρίνεται στη φιλοδοξία μας για μια ασφαλέστερη και πιο ανταγωνιστική Ευρώπη.

    Πιστεύω ότι συμμερίζεστε την άποψή μου ότι ο ECHA χρειάζεται έναν βασικό κανονισμό λειτουργίας, ώστε να διασφαλιστεί η καταλληλότητα και η ικανότητά του να υλοποιήσει τους στόχους της Ευρωπαϊκής Ένωσης για την ασφαλή διαχείριση των χημικών ουσιών, τη δημόσια υγεία και περιβαλλοντική προστασία, υποστηρίζοντας παράλληλα την ανταγωνιστικότητα της βιομηχανίας. Ένα σαφές νομικό πλαίσιο θα επιτρέψει στον Οργανισμό να ενσωματώσει ομαλά και αποτελεσματικά τις νέες και διευρυμένες αρμοδιότητες του.

    Ωστόσο, πρέπει να αναγνωρίσουμε τον σημαντικό αντίκτυπο που θα έχει αυτή η μεταρρύθμιση στη λειτουργία του ECHA. Θα απαιτηθεί αναδιάρθρωση των αρμοδιοτήτων του, ώστε να μπορεί να διαχειριστεί τον αυξημένο φόρτο εργασίας, χωρίς να τίθεται σε κίνδυνο η ποιότητα, η ακρίβεια και η έγκαιρη ολοκλήρωση των αξιολογήσεων των επιστημονικών επιτροπών που εποπτεύει.

    Η επιτυχία αυτής της πρωτοβουλίας εξαρτάται από προσεκτικό σχεδιασμό και επαρκείς πόρους. Για αυτόν τον λόγο, στην πρόταση συμβιβασμού που συμφωνήσαμε, επεκτείνουμε τη μεταβατική περίοδο προσαρμογής στους 18 μήνες αντί των 12 μηνών που προέβλεπε αρχικά η πρόταση της Επιτροπής. Αυτή η προσαρμογή είναι ιδιαίτερα σημαντική, καθώς δεν υπάρχουν ακόμη διαθέσιμοι χρηματοδοτικοί και ανθρώπινοι πόροι για τις πρόσθετες αρμοδιότητες του ECHA, μέχρι την έγκριση και έναρξη ισχύος του νομικού κειμένου. Μια μεγαλύτερη μεταβατική περίοδος θα επιτρέψει στον Οργανισμό να προσαρμοστεί σταδιακά, να αποφύγει αναταράξεις και να διατηρήσει υψηλής ποιότητας αξιολογήσεις.

    Επιπλέον, η Επιτροπή πρέπει να παρακολουθεί τακτικά τον φόρτο εργασίας και τους πόρους του ECHA. Δεδομένων των πρόσθετων αρμοδιοτήτων που του ανατίθενται μέσω αυτής της πρότασης, είναι απαραίτητο η Επιτροπή να αξιολογεί τις ανάγκες του Οργανισμού και, όπου απαιτείται, να προτείνει νομοθετικά μέτρα για την προσαρμογή των πόρων του και τη βελτίωση της διακυβέρνησης των επιστημονικών του επιτροπών, διασφαλίζοντας την αποτελεσματική λειτουργία του.

    Αγαπητοί συνάδελφοι, αυτή η πρόταση, ύστερα από πολύ εντατική διαβούλευση, έχει αποσπάσει ευρεία υποστήριξη από τις πολιτικές ομάδες, αντιπροσωπεύει μια καλά ισορροπημένη και βιώσιμη λύση για το μέλλον, και παρέχει ένα σαφές πλαίσιο για τον διευρυμένο ρόλο του ECHA στο ρυθμιστικό πλαίσιο των χημικών ουσιών στην ΕΕ. Με τη βελτίωση της διαδικασίας λήψης αποφάσεων, την ενίσχυση του ρυθμιστικού πλαισίου και την εφαρμογή επαρκών μεταβατικών μέτρων, διασφαλίζουμε τη δημόσια υγεία, προστατεύουμε τους πολίτες και το περιβάλλον, και ταυτόχρονα στηρίζουμε την ανταγωνιστικότητα της ευρωπαϊκής βιομηχανίας. Σας καλώ, λοιπόν, να υποστηρίξετε αυτή την πρόταση ως μέρος του πακέτου «one substance, one assessment».

     
       

       

    Catch-the-eye procedure

     
       


       

    (End of catch-the-eye procedure)

     
       


     

      President. – Thank you, Commissioner. The debate is closed. The vote will be held tomorrow.

     

    20. Re-attribution of scientific and technical tasks and improving cooperation among Union agencies in the area of chemicals (short presentation)


     

      Δημήτρης Τσιόδρας, εισηγητής. – Κυρία Πρόεδρε, με το τρίτο νομοθετικό κείμενο του πακέτου «one substance, one assessment» κάνουμε ένα ουσιαστικό συμπληρωματικό ρυθμιστικό βήμα προς τη βελτίωση της ασφάλειας των χημικών ουσιών, την προστασία του περιβάλλοντος και την ενίσχυση της ανταγωνιστικότητας της ευρωπαϊκής βιομηχανίας. Αυτή η πρόταση αποτελεί ορόσημο για τη διασφάλιση εναρμονισμένων και επιστημονικά τεκμηριωμένων αξιολογήσεων, καθώς και της αποτελεσματικής συνεργασίας μεταξύ των ευρωπαϊκών οργανισμών που ασχολούνται με τα χημικά.

    Ένα από τα βασικά σημεία αυτού του κανονισμού είναι η εναρμόνιση στη διαχείριση και αξιολόγηση των χημικών ουσιών μεταξύ των διαφορετικών ευρωπαϊκών οργανισμών. Με την απλοποίηση των διαδικασιών και την εξάλειψη περιττών επικαλύψεων, μπορούμε να αυξήσουμε την αποδοτικότητα, να ενισχύσουμε την προβλεψιμότητα και να μειώσουμε το διοικητικό βάρος. Αυτό δεν θα ωφελήσει μόνο τους πολίτες της Ευρωπαϊκής Ένωσης, διασφαλίζοντας υψηλότερα πρότυπα ασφάλειας, αλλά θα βοηθήσει και τις επιχειρήσεις, παρέχοντας μεγαλύτερη σαφήνεια και σταθερότητα στις διοικητικές διαδικασίες.

    Ωστόσο, κατά τη διαδικασία επαναπροσδιορισμού των αρμοδιοτήτων, πρέπει να διασφαλίσουμε ότι κανένας μεμονωμένος οργανισμός, όπως ο ECHA, δεν θα επιβαρυνθεί με πρόσθετες υπερβολικές ευθύνες. Η ανακατανομή των αρμοδιοτήτων μεταξύ των διαφόρων οργανισμών πρέπει να είναι ισορροπημένη, λαμβάνοντας υπόψη την εξειδίκευση και τα επιμέρους καθήκοντα που τους έχουν ανατεθεί. Αυτό θα διατηρήσει την επιστημονική αριστεία, ενώ παράλληλα θα αποτρέψει καθυστερήσεις στις αξιολογήσεις και τη λήψη αποφάσεων.

    Στο πλαίσιο αυτής της πρότασης, συμφωνήσαμε ότι σε περίπτωση σημαντικών επιστημονικών αποκλίσεων σε γνωμοδοτήσεις, ειδικά όταν εμπλέκεται εθνική αρχή, πρέπει να υπάρχει δομημένος μηχανισμός συνεργασίας. Οι ευρωπαϊκοί οργανισμοί και οι εθνικές αρχές πρέπει να είναι υποχρεωμένοι να συνεργάζονται είτε επιλύοντας τις διαφορές τους είτε δημοσιεύοντας ένα κοινό έγγραφο που αποσαφηνίζει τις επιστημονικές αβεβαιότητες. Η διαφάνεια πρέπει να είναι στο επίκεντρο αυτής της διαδικασίας, διασφαλίζοντας ότι όλες οι σχετικές επιστημονικές συζητήσεις είναι δημόσιες και προσβάσιμες. Σε περιπτώσεις όπου εντοπίζονται αποκλίσεις και απαιτούνται επιπλέον πληροφορίες, είναι κρίσιμο να καθοριστεί μια σαφής διαδικασία και ρεαλιστικά χρονικά περιθώρια για την παροχή των απαραίτητων δεδομένων.

    Αγαπητοί συνάδελφοι, αυτός ο κανονισμός αποτελεί ένα σημαντικό βήμα προς μια πιο συνεκτική, αποτελεσματική, προβλέψιμη και επιστημονικά τεκμηριωμένη πολιτική των χημικών ουσιών στην Ευρωπαϊκή Ένωση. Ενισχύει τη συνεργασία μεταξύ των σχετικών οργανισμών, διασφαλίζει δίκαιη κατανομή των αρμοδιοτήτων τους, και προάγει τη διαφάνεια και την εμπιστοσύνη του κοινού στη διαδικασία λήψης αποφάσεων. Σας καλώ να στηρίξετε και αυτόν τον κανονισμό, ώστε να ενισχύσουμε περαιτέρω το ρυθμιστικό μας πλαίσιο για την ασφάλεια των χημικών ουσιών, να προστατεύσουμε τη δημόσια υγεία και το περιβάλλον, και να παρέχουμε στις επιχειρήσεις ένα σαφέστερο και πιο προβλέψιμο ρυθμιστικό περιβάλλον.

     
       

       

    Catch-the-eye procedure

     
       

     

      Christophe Clergeau (S&D). – Madame la Présidente, Madame la Commissaire, ce texte, qui vient s’ajouter aux deux précédents, est là aussi un premier pas. On voit bien que nous nous trouvons confrontés à un problème, plus large, de renforcement de la coopération entre les agences de sécurité sanitaire au niveau européen – et le cadre législatif qui était proposé ne permettait pas d’aller très loin dans ce domaine; on a fait le maximum. Il s’agit également de trouver la bonne adéquation entre les objectifs que l’Europe fixe à ces agences, les moyens dont elles disposent, la manière dont elles coopèrent avec les États membres et le degré de leur coopération.

    Je suis persuadé qu’il nous faudra, dans les mois qui viennent, revenir sur ces sujets de manière beaucoup plus approfondie, en vue de refonder le système des agences européennes et de le projeter vers l’avenir, pour véritablement donner à ces agences les moyens de prendre à bras-le-corps les missions qui sont les leurs, si nous voulons réellement nous saisir des enjeux de santé des populations et de protection de l’environnement.

    M. Url vient régulièrement expliquer à la commission de l’environnement que, à l’Autorité européenne de sécurité des aliments, il n’a pas les moyens nécessaires pour se charger de la question des pesticides. On voit aujourd’hui les limites de l’ECHA face à la question des produits chimiques.

    Il va falloir faire beaucoup plus que ce que ces trois textes ont proposé, même s’ils sont très positifs et que nous avons essayé de les améliorer.

     
       


       

    (End of catch-the-eye procedure)

     
       

     

      Jessika Roswall, Member of the Commission. – Madam President, honourable Members, in addition to my previous remarks, the ECHA agency will be equipped with an operational budget, which can be used for exceptional assessment, which require external input.

    In general, consulting external experts is not unusual for committees and can provide additional expertise from inside others of our sectors.

    Madam President, honourable Members, all stakeholders will benefit from the ‘one substance, one assessment’ initiative. Citizens and the environment will benefit from better protection from hazardous chemicals as a result of a more efficient and effective assessment process.

    Companies will benefit from more harmonised and transparent processes across legislation, from a reduced number of bodies involved in safety and risk assessment, as well as from a strengthened certainty regarding the validity of assessment.

    Finally, national and EU authorities will benefit from improved efficiency of delivery of assessments and improved public trust and acceptance of regulatory decisions. That’s why I’m looking forward to working together with both the co-legislators on this.

     
       

     

      President. – Thank you very much. The debate is closed. The vote will be held tomorrow.

     

    21. One-minute speeches on matters of political importance


     

      Maria Walsh (PPE). – Madam President, as we sit here in Parliament tonight, thousands of workers in the pharmaceutical and medtech sectors, many in the west of Ireland, are sitting at home facing 48 hours of deep uncertainty.

    Ireland is arguably the single most exposed EU Member State to a transatlantic trade war. In 2023 alone, we exported around 36 billion worth of pharmaceuticals and chemicals to the United States, while the jobs of 50 000 Irish workers are dependent on the sector.

    However, it is for the sake of the European economy as a whole that our attention must be on reaching a negotiated agreement with the US. A trade war is not a fait accompli. The EU successfully avoided tariffs in 2018. We must do the same again this year.

    To put in terms familiar to President Trump, for the next 48 hours, workers and businesses on both sides of the Atlantic will be watching closely, focused on the real art of the deal. Ultimately, we must ensure that through strong actions and careful words, trade remains a bridge, not a battleground.

     
       

     

      Vytenis Povilas Andriukaitis (S&D). – Madam President, we are now starting discussions on the 2026 budget and upcoming new MFF, the budget of our Union. Unfortunately, the budget for the EU4Health programme, a key component of the European Health Union, was reduced by EUR 1 billion following the last MFF revision. This is completely unacceptable.

    We are now facing a range of new challenges, including the urgent need to strengthen our security, defence and so on. For this, we need the strongest, most resilient, autonomous and biggest European Union budget based on consistent and stable own resources.

    Health, security and the European Health Union are priorities that must be adequately funded to prevent premature deaths, create a strong and resilient workforce and society, and invest in human capital. Let us work together to ensure that we have the European Union own resources to achieve those goals.

     
       

     

      Anne-Sophie Frigout (PfE). – Madame la Présidente, dans quel pays une chaîne de télévision se fait-elle fermer parce qu’elle ne plaît pas à la bien-pensance? Dans quel pays la candidate en tête dans tous les sondages vient d’être rendue inéligible à l’élection présidentielle de 2027 à la suite d’un coup d’État juridique sans précédent. Ce pays, c’est la France, pays des Lumières, patrie des droits de l’homme.

    Aujourd’hui, Marine Le Pen est empêchée de se présenter à la présidentielle de 2027. Une sentence des plus arbitraires, qui choque même nos opposants les plus farouches. Car, tenez-vous bien, les juges justifient cette exécution provisoire par l’existence «supposée» d’un risque de récidive, empêchant toute possibilité de faire appel avant l’élection. Ils tentent en réalité de museler ceux qui commettraient le crime de ne pas penser comme eux.

    Comment l’Union européenne peut-elle prétendre donner des leçons de démocratie à la Hongrie ou à la Roumanie alors que, sous ses yeux, une décision sans précédent vient bouleverser le processus démocratique en France. Alors que l’état de droit n’a jamais été autant mentionné, la démocratie n’a jamais été autant bafouée. C’est une atteinte aux valeurs, celles que nous sommes censés défendre ici.

    (La Présidente retire la parole à l’oratrice)

     
       


     

      Jana Toom (Renew). – Madam President, colleagues, I’m speaking today on behalf of my voters. Last Wednesday, the Estonian Parliament amended the Constitution and cancelled the rights of third-country citizens and stateless people to vote in local elections.

    This threat existed for 30 years. The blow was aimed mostly at citizens of Russia and Belarus with a permanent residence permit, using the war of Russia against Ukraine as a pretext. The population of Estonia is 1.3 million; the Members of Parliament decided that 140 000 people are a ‘fifth column’, without charge or trial, collectively. The punishment: no democratic representation at all.

    These people are not new migrants. They are Estonians in all but their passports. Most of them took Russian passports to legalise themselves after the collapse of the Soviet Union. The barriers of obtaining Estonian citizenship were and remain too high. These people are law-abiding taxpayers that have lived in Estonia for decades or since birth. It is their homeland. Teachers, doctors, engineers, old folks – even the security police doesn’t see them as a security risk.

    It is a purely political decision in order to change the results of the local elections that will be held in autumn. Given the fragile security situation in Europe, such a step is stupid but also dangerous.

    (The President cut off the speaker)

     
       


     

      Daniel Buda (PPE). – Doamnă președintă, stimați colegi, febra aftoasă, în principal o boală a vacilor, apare după 35 de ani în Europa și face ravagii în sectorul zootehnic. Primul focar a fost identificat în Germania în urmă cu trei luni, iar recent cazuri similare au fost identificate în Slovacia și Ungaria, nu departe de granița cu România.

    Fermierii au avut deja pierderi de sute de milioane de euro, fie urmare a mortalității, fie a pierderilor de venit. Previziunile sunt sumbre, deoarece boala se răspândește cu viteza luminii. Fermierii riscă să ajungă în imposibilitatea de a salva animalele, iar cei din sectorul vegetal, de a nu mai avea cum să își vândă producția. Comisia trebuie să găsească urgent mecanismele pentru despăgubirea fermierilor afectați.

    În același timp, executivul european trebuie să vină cu o comunicare publică adecvată și eficientă cu privire la măsurile luate pentru prevenirea bolii, dar și identificarea unui vaccin eficient, concomitent cu elaborarea unui plan clar de acțiune stabilit cu statele membre. Atrag atenția că securitatea alimentară poate fi serios afectată de această boală, care se comportă ca o adevărată armă biologică.

     
       



     

      Marie Dauchy (PfE). – Madame la Présidente, aujourd’hui la justice est utilisée comme une arme politique. Le procès de Marine Le Pen, à deux ans de la présidentielle, n’a rien de neutre. Il ne vise pas la vérité, il ne vise pas la justice: il vise à faire taire la première opposante politique. Les réquisitions sont disproportionnées. Le calendrier parle de lui-même. Derrière tout cela, il y a la main de Bruxelles, toujours prête à s’attaquer à ceux qui défendent leur peuple.

    Peut-on encore parler de démocratie quand on cherche à écarter une candidate par la voie des tribunaux plutôt que par la voix du peuple? Il ne s’agit pas que d’une femme, mais de 13 millions de Français.

    Ce n’est pas une première: en Roumanie, à quelques semaines de l’élection présidentielle, les mêmes méthodes ont été utilisées pour disqualifier l’opposition nationale. Aujourd’hui, ce scénario se répète en France. Il s’agit d’une dérive grave, dangereuse, d’un pouvoir qui a peur de perdre et qui instrumentalise la justice pour se protéger.

    Mais les Français ne sont pas dupes. Nous défendrons Marine Le Pen, nous défendrons la démocratie et nous rendrons la parole au peuple. Car, si l’Union européenne continue de piétiner les libertés fondamentales, alors oui, elle s’effondrera et elle l’aura bien cherché.

     
       


     

      Ciaran Mullooly (Renew). – Madam President, the Gaeltacht areas of Ireland are not only geographical regions, they are part of the island’s heritage. They’re the beating heart of the Irish language.

    Mar a deir Breanndán Ó Beaglaoich: An teanga, sin í croí ár ndúchais.

    Unfortunately, a mix of bad planning or no planning at all, combined with Airbnb-style corporate acquisitions, have seen an influx of non-Irish speakers coming in, causing a dramatic shift in the linguistic balance.

    If planning continues to be granted without restrictions and there is no positive discrimination towards Irish speakers, there is a real risk now of losing the Irish language forever in locations like Galway, Kerry and Donegal.

    Commissioner, our new European Parliament Special Committee on Housing must look at this. We need positive planning policies that favour the natives, and we must ensure young people with fluent Irish are not priced out of their communities. The Irish language has survived through war, famine and numerous ways of immigration. For it to finally die due to planning laws would be a tragedy.

     
       

     

      João Oliveira (The Left). – Senhora Presidente, trouxemos hoje a este Parlamento Europeu uma importante proposta para o prolongamento do prazo de implementação dos fundos do PRR, dos fundos do Plano de Resolução e Resiliência. E porquê? Porque estes fundos são fundos importantes ao dispor dos Estados-Membros, que devem ser plenamente aproveitados para que os Estados-Membros possam, a partir deles, projetar o desenvolvimento e a resposta que é necessário dar aos seus problemas nacionais.

    E fizemos esta proposta, partindo da constatação que tem sido feita, nomeadamente pelo Tribunal de Contas Europeu, que estes fundos não estão a ser utilizados, que há uma boa parte de dificuldades que têm que ver com a própria regulamentação do Mecanismo de Recuperação e Resiliência e também com dificuldades nacionais. Mas que o problema do prazo, que acabará em agosto de 2026, é um dos estrangulamentos com que estamos confrontados.

    O facto de o prazo dos fundos do Plano de Recuperação e Resiliência estar fixado para agosto de 2026 significa que muitos Estados não aproveitarão esses fundos ou utilizá-los-ão erradamente, como está neste momento apontado para Portugal, depois da segunda reprogramação que foi feita pelo Governo.

    E, por isso, propomos a extensão do prazo para 2028, numa proposta que, estamos convictos, será aprovada por este Parlamento.

     
       

     

      Alexander Sell (ESN). – Frau Präsidentin! Schuldenbremse, Grenzschließung, Heizungsgesetz: Friedrich Merz hat im Wahlkampf nie gelogen, sondern immer die Wahrheit gesagt. Für diese Aussage könnte ich in Deutschland bestraft werden, denn, ich zitiere: „Die bewusste Verbreitung falscher Tatsachenbehauptungen ist durch die Meinungsfreiheit nicht gedeckt.“ Das ist kein schlechter Aprilscherz, sondern ein Satz aus den Sondierungspapieren von CDU und SPD. Als Bundeskanzler will Friedrich Merz sicherstellen, dass in Deutschland immer die Wahrheit gesagt wird – das heißt z. B., Schulden müssen Vermögen genannt werden. Wer das nicht tut, macht sich in Deutschland bald strafbar, weil Desinformation und Fake News unsere Demokratie gefährden – so sieht das die deutsche Bundesregierung.

    Vor 400 Jahren hat Galileo Galilei behauptet, dass sich die Erde um die Sonne dreht. Für diese Verbreitung von Fake News wurde er zu Hausarrest verurteilt, weil der Papst der Meinung war, dass sich die Sonne eben um die Erde dreht. Heute wissen wir: Die Wahrheit lässt sich nicht aufhalten, auch wenn Friedrich Merz die Wahrheit Lüge nennt. Am Ende werden die Lügner immer überführt, denn Lügen haben kurze Beine.

     
       


     

      Thierry Mariani (PfE). – Madame la Présidente, c’est officiel: de Paris à Bucarest en passant par la Republika Srpska, l’Union européenne accompagne la mort démocratique de l’Europe. La condamnation, injuste et totalitaire, de Marine Le Pen fait tristement écho à celle de Milorad Dodik, président de la République serbe de Bosnie. À travers lui, la Republika Srpska est attaquée judiciairement et politiquement.

    Milorad Dodik, qui a été élu démocratiquement, vient d’être condamné à un an de prison et à six ans d’inéligibilité dans un procès politique téléguidé depuis l’extérieur. À ce stade, la justice de Bosnie-Herzégovine n’est plus indépendante: elle est un instrument de répression entre les mains de Sarajevo, un instrument qui agit sous la pression de Christian Schmidt, haut représentant international, qui se conduit comme un gouverneur colonial en annulant des lois et en violant la volonté populaire exprimée dans les urnes.

    Évidemment, Bruxelles laisse se dérouler cette farce autoritaire, orchestrée contre un président légitimement élu, prouvant par là même que son indignation est sélective et qu’elle piétine le droit des peuples à disposer d’eux-mêmes – en particulier celui des Serbes.

    La Republika Srpska et son peuple ne méritent ni l’ignorance ni l’humiliation, mais le respect.

     
       

     

      Michał Dworczyk (ECR). – Pani Przewodnicząca! W ostatnich tygodniach Komisja Europejska zaprezentowała szereg inicjatyw w dziedzinie bezpieczeństwa i obronności: białą księgę, program ReArm Europe czy rozporządzenie Safe. Nie możemy też pomijać programu na rzecz europejskiego przemysłu obronnego EDIP. Po lekturze tych dokumentów ewidentne jest, że Komisja stawia w centrum swoich propozycji wspólne zamówienia i obowiązkowy komponent europejski. Obie te kwestie oczywiście są ważne w dłuższej perspektywie, jednak dzisiaj nie żyjemy w abstrakcyjnej przyszłości, tylko w realnym i niebezpiecznym tu i teraz. Dlatego priorytety wsparcia powinny być inne.

    Po pierwsze – bezpośrednie zaangażowanie w ochronę wschodniej granicy NATO i Unii Europejskiej. Po drugie – poziom wydatków na obronność względem PKB. I po trzecie – realna pomoc udzielana walczącej Ukrainie, zarówno militarna, jak i logistyczna. Są to kryteria fundamentalne i oczywiste. Tymczasem priorytety wyznaczone przez Komisję, zamiast wzmacniać bezpieczeństwo Europy, praktycznie przekładają się na korzyści dla dużych koncernów zbrojeniowych i ich rekordowe wyniki są tego dowodem. Dlatego zachęcam zarówno Komisję, jak i posłów do tego, by w trakcie prac nad EDIPem i przyszłymi projektami dokonać koniecznej korekty priorytetów.

     
       

     

      Barry Cowen (Renew). – Madam President, in two days’ time, the Trump administration will impose tariffs that threaten the future of the European economy, not just for months, but possibly for years to come. Europe must respond firmly, but strategically. Our counter-tariffs, when they arrive in mid-April, must be measured and considered.

    It’s inevitable during this consultation period that individual Member States, their governments and sector representatives will make the case for their right to be shielded from such tariffs. I personally, for example, have made representations to the Commission on behalf of several Irish industries. But when the time comes, it’s vital that we unite. In times of crisis, the strength of the EU has always been its unity.

    We are all now well aware that the EU exports EUR 157 billion more in goods to the US, while the US has a EUR 109 billion surplus in services. It’s a mutually beneficial relationship, one that tariffs will only damage.

    As such, if and when the time comes, we must engage with the Trump administration transactionally, exploring American LNG purchases, for example, and security commitments, as part of a solution to avoid all-out trade war.

    All in all, let’s make sure the EU’s response is measured and politically precise. The goal must be to bring the US back to the table because, as we all know, a trade war serves neither them nor us.

     
       



     

      Ana Miranda Paz (Verts/ALE). – Um queijo. Um queijo protegido, único, tradicional, sustentável. Produz-se num território ameaçado por um projeto altamente contaminante, que o Governo galego quer fazer, da empresa portuguesa Altri, que mesmo Portugal rejeitou. Querem trocar vacas por eucaliptos, queijos por celulose, granjas por fumo.

    Com o mais alto risco a nível europeu para uma iniciativa europeia num contexto verde, os fundos europeus não podem vir para este tipo de projetos que contaminam, que destroem as granjas, que destroem também esta produção protegida de queijos.

    Um queijo é o símbolo de um país, do meu país: a Galiza.

     
       


     

      Rudi Kennes (The Left). – Madam President, last week, the workers of the catering services in Parliament protested because management outsourced their work to private companies, and the way these companies treat them is simply not worthy of an institution that always complains about labour rights violations, but only abroad.

    Catering is currently outsourced to a British multinational. How do multinationals win these contracts? They place the lowest bid – which means low salaries and bad services. Today it is the catering, yesterday it was the creche, tomorrow the cleaning and also now the teachers.

    They all described a shocking situation: precarious contracts, huge workloads, low pay, high turnover and no certainty. These people are desperate, tired and feel humiliated. The EU should give a good example and not give contracts to these kind of industry cowboys.

    We want to see these services insourced, permanent good jobs, good pay and good working conditions. We will support these workers and their unions until they get what they deserve.

     
       


     

      Valérie Deloge (PfE). – Madame la Présidente, face aux défis économiques et géopolitiques qui menacent notre continent, la Commission européenne a trouvé une réponse déconcertante: un kit de survie pour tenir soixante-douze heures en cas de crise. Plutôt que de mettre fin au pacte vert, qui étrangle nos agriculteurs, Bruxelles préfère entretenir un climat de peur. Au lieu de renforcer notre économie et notre souveraineté, elle infantilise les citoyens avec des recommandations dignes d’un scénario hollywoodien.

    La guerre n’est pas un jeu. Jordan Bardella l’a rappelé: nous voulons une Europe de la paix, de la sécurité et de la souveraineté. Pourtant Bruxelles s’acharne à affaiblir nos nations pour imposer son fédéralisme. Nos agriculteurs, étouffés par des normes économiques absurdes, et nos entreprises, soumises à la concurrence déloyale, sont aujourd’hui en mode survie. Un véritable kit de survie, c’est une économie forte, une industrie compétitive et des frontières protégées.

    Je voulais aussi apporter tout mon soutien à Marine Le Pen, honteusement condamnée pour des raisons politiques. C’est un jour triste pour la démocratie, mais ce n’est qu’une question de temps avant que nous arrivions au pouvoir pour donner aux peuples européens la voix qu’ils méritent.

     
       

     

      Fernand Kartheiser (ECR). – Madam President, the statement concerns the review of the Digital Services Act. Article 91 of the DSA provides for a review of the Act by November 2025, regarding the designation of very large online platforms, their scope and the DSA’s compatibility with various legal instruments. The DSA has been heavily criticised not only by the current US administration, but also by European politicians and human rights defenders, who have alerted and documented the far‑reaching impact of the DSA on fundamental rights, in particular the right to free speech. In this context, a well‑rounded review process is strongly needed.

    Can the Commission clarify the review process under Article 91 of the DSA and, in particular, the roles played by Parliament and the Council? Is the Commission envisioning amendments to the DSA and, if so, which ones?

     
       

     

      Nicolae Ştefănuță (Verts/ALE). – Madam President, I have a message to every European: when they spit on our European values, we do not apologise for them, we do not explain ourselves for them – instead, we pick them up and put them in an even shinier place for everyone to see.

    I’m so tired of us being always in a defensive mode, as if we apologise for something, as if we look for a world that isn’t there anymore.

    For today’s world, Europe needs again the path of unity, of standing together, of strength. We need to be adults responsible for ourselves.

    We don’t need to point to the outside. We need to look inside and really work hard. This continent will prevail because it is what humans have aspired to for so many centuries.

    Do I need to remind the House that this continent only had peace when it was together? For the rest of its historic millennia, it only had war if it was not united.

    It is time to make Europe believe in itself again. It is time to have a more united Europe again!

     
       


     

      Diana Iovanovici Şoşoacă (NI). – Doamnă președintă, ceea ce s-a întâmplat astăzi în Franța, prin condamnarea lui Marine Le Pen și condamnarea acesteia de a nu mai putea candida ca președinte, este o urmare firească a interdicției mele din 5 octombrie 2024, făcută de Curtea Constituțională, numai că eu nu eram condamnată de nimeni și pentru nimic, ci doar pe articole din ziar.

    Dacă atunci ați fi avut interesul să reacționați, acum nu mai eram în situația în care Europa a instaurat o dictatură și v-o spun ca avocat: nu există o astfel de posibilitate să o facă o Curte Constituțională. Ați călcat în picioare drepturile și libertățile fundamentale ale drepturilor omului, ați călcat în picioare principiul:

    Liberté, fraternité, égalité, elles sont mortes!

    Deci nu mai există nici libertate, nici egalitate, nici fraternitate. Ați distrus întreaga Europă și vă certați cu toată lumea, inclusiv cu Trump. Ori vă revizuiți atitudinea, ori va trebui să ne reluăm noi toate drepturile și libertățile fundamentale înapoi, indiferent cum vom putea.

     
       

     

      Ştefan Muşoiu (S&D). – Doamnă președintă, dragi colegi, asistăm în ultimii ani la un proces mult prea rapid de maturizare a propriilor noștri copii, cauzat de utilizarea rețelelor de socializare de la vârsta de 5 ani. Este alarmant. La fel de alarmant este și că aproape 50 % dintre copii petrec peste 6 ore pe zi online, conform unui studiu realizat recent.

    Însă și mai îngrijorător este faptul că aceste deprinderi nocive, combinate cu conținuturi inadecvate, cu presiunea validării și cu temerile privind excluderea socială, le provoacă tot mai mari dificultăți emoționale copiilor. Expunerea timpurie și necontrolată la aceste platforme poate duce la fragilizarea emoțională, la izolare socială, la anxietate severă și inclusiv la tentative de suicid.

    Așadar, este nevoie de o gestionare adecvată a timpului și a conținutului din online accesibil copiilor. Trebuie să prevaleze aceste obiective, iar modelul spaniol privind limitarea folosirii tabletelor și a altor dispozitive digitale la maxim 2 ore pe săptămână de către elevii din școala primară, devine crucial pentru viitorul copiilor.

     
       


     

      President. – That would be the last speaker for the one‑minute speeches for this plenary sitting.

    Thank you, Commissioner Roswall, for having stayed until the end and taken the floor on each occasion you were given.

     

    22. Agenda of the next sitting

     

      President. – The agenda for the next sitting, which is tomorrow, Tuesday 1 April at 9.00, has been published and is available on the European Parliament website.

     

    23. Approval of the minutes of the sitting

     

      President. – The minutes of this sitting will be submitted to Parliament for its approval tomorrow, at the beginning of the afternoon.

     

    24. Closure of the sitting

       

    (The sitting closed at 22.29)

     

    MIL OSI Europe News

  • MIL-OSI: Greenbacker delivers 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Key Takeaways

    • Amid challenging market conditions, including inflationary pressures and macro uncertainty, Greenbacker announces decrease in NAV.
    • Charles Wheeler retires as CEO; Dan de Boer assumes position of interim CEO; Robert Brennan appointed Chairman of the Board.
    • Company institutes additional cost saving measures, including 10% reduction in workforce; operating expenses expected to reduce by $12 million, or 20%, by 2026.
    • Board of Directors authorizes review of strategic alternatives to enhance shareholder value.
    • Total operating revenue in 2024 increased by 16% year-over-year, to $210 million.
    • Operating fleet grew by 8%, with 22 new solar energy assets in operation representing 117 MW of additional power production capacity.
    • Annual power production increase of 23% driven by new solar assets combined with Company’s milestone wind repowers.
    • Greenbacker’s fleet of clean energy assets generated 2.7 billion kilowatt-hours of power, enough to power 250,000 US homes.

    NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“Greenbacker,” “GREC,” or the “Company”), an energy transition-focused investment manager and independent power producer, has announced financial results for 2024, including year-over-year increases in annual revenue, operating capacity, and clean energy generation.¹

    Market conditions, inflationary pressures, and re-underwriting process determined adjusted NAV

    With the renewable energy sector at a critical juncture, during 2024 Greenbacker initiated a detailed, multi-quarter re-underwriting process prior to releasing its December 31, 2024 net asset value (“NAV”), in which the Company evaluated the expected future performance of the assets in its portfolio relative to their historical performance, while also taking into account the impact of current market conditions. As a result, GREC adjusted its aggregate NAV as of December 31, 2024 to $5.03 per share, a 35.5% decrease relative to the September 30, 2024 NAV of $7.81 per share.

    Several factors contributed to the Company’s NAV revision. Inflationary pressures, supply chain imbalances, and increasing insurance costs due to heightened climate risk contributed to a significant increase in operating costs. New clean energy generation projections from independent engineers based on recent industry data have provided additional insight, replacing earlier projections that had been obtained during a period with limited historical data available and diverged relative to actual production. Additionally, there continues to be uncertainty around potential changes to the Inflation Reduction Act and the threat of additional tariffs, both of which are impacting the near-term outlook for renewables.

    These headwinds contributed to a challenging market environment and downward pressure in renewable energy asset pricing across the sector, which Greenbacker saw reflected through both market sale processes and a comprehensive asset-by asset-review.

    At the project level, the Company continues to maintain financial stability, resulting in strong financial coverage ratios. Additionally, at the firm level, Greenbacker continues to maintain sufficient overall liquidity and receive ongoing support from its leading project financing partners.

    Organizational restructuring executed to increase operational efficiencies

    Greenbacker is announcing an organizational restructuring designed to streamline operations, reduce costs, and better position the Company to capitalize on future market opportunities and deliver value to shareholders.

    As part of these changes, Charles Wheeler is retiring from his role as Chief Executive Officer (“CEO”) and Chairman of the Greenbacker Board of Directors (“Board”), effective April 1, 2025. Chief Investment Officer and Head of Infrastructure Dan de Boer has been named interim CEO, effective April 1, 2025, and Director Robert Brennan has been appointed Chairman of the Board. The Greenbacker Board is considering both external and internal candidates for the role of a permanent CEO, which is expected to be confirmed no later than the end of Q2 2025. Wheeler will continue to serve as a member of the Board until the earlier of December 31, 2025 and the date on which a permanent replacement CEO has been appointed.

    Wheeler, who is also one of Greenbacker’s Co-Founders, spoke about his retirement and Greenbacker’s future:

    “14 years ago, with a group of like-minded individuals, I created Greenbacker with the goal of providing an investment vehicle that would enable ordinary American investors to participate in the renewable energy revolution. We’ve built Greenbacker into a business that is contributing to the transition to clean energy with hundreds of projects representing more than 3.6 gigawatts² of clean power generation capacity across the country.

    Given current market conditions, changes are needed to best position Greenbacker to benefit from future market opportunities. I believe that Dan and Greenbacker’s other leaders are the right team to guide us through this period while promoting our mission to empower a sustainable world.”

    De Boer has been with Greenbacker since 2023 and brings nearly two decades of experience in private equity and renewable energy investing, with prior leadership roles and positions at Allianz Capital Partners, Onyx Renewable Partners within Blackstone Energy Partners, and D.E. Shaw Renewable Investments.

    In addition to restructuring the leadership team, the Company has progressed several cost savings initiatives, including a reduction of approximately 10% of its workforce, effective March 31, 2025. Greenbacker anticipates that the reduction in force and other operational efficiency efforts that began in mid-2024 will reduce overhead expenses by $12 million, or 20%, by 2026.

    “We want to recognize the impact that this decision has on the careers and lives of the individuals at Greenbacker,” said interim CEO, Dan de Boer. “We value our people and employed care and thoughtfulness as we attempted to balance our business requirements with any adverse impact to our team. While difficult, we believe that taking these measures will better position the firm to achieve long-term growth.”

    Additionally, the Company has identified opportunities to recycle capital within the portfolio by pursuing targeted non-core asset sales.

    Annual total operating revenue topped $210 million, as Company continued to move assets into operation, contributing to year-over-year production increase of 23%

    During 2024, Greenbacker increased total operating revenue³ by $29 million, or 16% year-over-year, to over $210 million.

    Revenue from the sale of clean energy within Greenbacker’s independent power producer (“IPP”) business segment totaled $185.2 million in 2024, of which $155.0 million, or approximately 84%, came from the Company’s long-term power purchase agreements (“PPAs”).

    For 2024, the net loss attributable to Greenbacker was $(242.3) million and Adjusted EBTIDA⁴ was $59.8 million, representing year-over-year changes of (205)% and 88%, respectively. The net loss was primarily the result of goodwill impairment charges, driven by a deterioration in macroeconomic conditions, as well as by depreciation, amortization, and other impairment charges in the period.

    GREC increased its operating fleet size by 8% in 2024, which included placing 22 new solar energy assets into operation, accounting for 117 MW of additional power production.⁵ Additionally, the three wind assets strategically taken offline during portions of 2023 for repowering (i.e., retrofitting with new, more efficient equipment) had all returned to full operation producing power by early 2024.

    In total, GREC’s new operating solar assets and repowered wind portfolio drove an annual power production increase of 23% year-over-year,⁶ as the Company’s fleet of clean energy assets generated 2.7 billion kilowatt-hours of power, enough to power over 250,000 US homes.⁷

    GREC Operating Fleet 2024 2023 YoY Increase
    (total)
    YoY Increase
    (%)
    Clean power produced by solar assets (MWh) 1,504,580 1,256,183 248,397 20%
    PPA revenue generated by solar assets ($M) 87.8 $ 74.1 $ 13.6 18%
    Clean power produced by wind assets (MWh) 1,236,431 978,236 258,195 26%
    PPA revenue generated by wind assets ($M) 65.8 $ 53.9 $ 11.9 22%
    Total clean power generated by wind and solar assets (MWh) 2,741,011 2,234,419 506,592 23%
    Total PPA operating revenue generated by wind and solar assets ($M) 153.5 $ 128.0 $ 25.5 20%

    Some figures may not add to stated totals due to rounding. Total clean power generated does not include power generated from biomass facility during 2023 and a portion of 2024, nor does it include assets in which the Company holds a preferred equity position.

    Greenbacker secures nearly $1 billion financing for largest solar farm in New York State; completes $437 million financing for milestone wind repowers; and completes targeted non-core asset sale

    Throughout 2024, Greenbacker made substantial progress on one of its core objectives: securing the capital necessary for the construction of its remaining pre-operating assets—and converting those projects into revenue-generating operating assets selling electricity. The Company also continued to receive robust support from its project finance partners, enabling it to reach significant milestones over the year.

    In particular, Greenbacker secured nearly $1 billion in financing for the acquisition, construction and operation of its 674 MW Cider solar farm, the largest solar energy project in the state of New York to date. Cider also represents both Greenbacker’s largest clean energy asset to date and the largest project financing in Company history (for which it was awarded Proximo Infrastructure’s 2024 Solar Deal of the Year).

    The construction financing represented $869 million from six of the world’s top financial institutions, including ongoing Greenbacker partners MUFG, KeyBanc Capital Markets and Wells Fargo, as well as first-time partnerships with ING Capital LLC, Intesa Sanpaolo S.p.A., New York Branch and Societe Generale. The Company also closed on an $81 million development loan with Voya Investment Management, its first partnership with the global investment manager.

    Greenbacker additionally completed $437 million in financing for its wind repower portfolio. GREC was able to create additional value from existing assets by updating the turbine blades, hubs, and nacelles at three wind projects in its Midwestern fleet. To finance the repowering, the Company collaborated with lending partner Bayerische Landesbank to secure $81.5 million in construction bridge loan facilities, as well as long-term debt and tax equity financing from Huntington National Bank, via sales leasebacks totaling $355.7 million.

    Also in 2024, Greenbacker completed the sale of its 54 MW Panther Creek pre-operating wind asset to an affiliated sustainable infrastructure-focused platform. The asset sale illustrated GREC’s ability to develop large clean energy assets through late-stage development, a key component of its go-forward strategy, while its affiliate platform viewed the project as an opportunity to add a fully developed, high cash-yielding asset, in line with its investment mandate.

    Long-term contracted cash flows with investment-grade counterparties

    As of December 31, 2024, the Greenbacker operating fleet represented approximately 1.6 gigawatts of total clean power generation and storage capacity, spanning over 30 states, territories, districts and provinces. Due to its size and geographic footprint, GREC’s operating fleet was listed among Solarplaza’s 2025 Top 50 Operating Solar Portfolios in North America.

    At the end of 2024, over 93% of Greenbacker’s entire portfolio of operating and pre-operating clean energy projects were currently, or will be when completed, selling power to investment-grade counterparties, including utilities, municipalities, and corporations, under long-term power purchase agreements (“PPAs”). The portfolio had approximately 17.4 years of contracted cash flows associated with these PPAs.

    Review of strategic alternatives

    In addition to the other measures to reduce costs, operate more efficiently, and promote a path to better outcomes for its investors, the Greenbacker Board has authorized the Company to conduct a comprehensive review of strategic alternatives.

    In regard to this review, the Board will consider a full range of operational and financial alternatives. A strategic review may result in Greenbacker securing additional capital to continue executing on its business plan: acquiring, owning, and operating a fleet of sustainable infrastructure assets that the Company efficiently manages to create both value and potential liquidity options for its shareholders.

    “During 2024, Greenbacker closed on the Cider deal, completed our milestone wind repowers, and brought 117 MW of additional capacity online, showcasing how we can utilize additional capital while continuing to deliver on our core focus,” de Boer said. “We believe current valuations in the renewables sector do not align with the supportive fundamentals driving the energy transition, leading to a compelling inflection point for renewable infrastructure investment. In short: we believe this is one of the better times to be investing in the energy transition.”

    Company’s investments produce power, abate carbon emissions, conserve water, and support green jobs

    As of December 31, 2024, Greenbacker’s clean energy assets had cumulatively produced more than 11 million MWh of clean power since January 2016, abating over 7 million metric tons of carbon⁸ and saving nearly 8 billion gallons of water.⁹ Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green jobs.¹⁰

    Additional information regarding the Company’s impact can also be found in Greenbacker’s latest impact report.

    Forward-Looking Statements
    This press release contains forward-looking statements, including those that relate to our search for a permanent Chief Executive Officer, our strategy and initiatives and our expectations for growth, within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. The potential risks and uncertainties that could cause our actual results, performance or achievements to differ from the predicted results, performance or achievements include, among others, difficulties or delays we encounter in identifying a permanent Chief Executive Officer; our ability to execute on, and achieve the expected benefits from, our operational and strategic initiatives; our inability to realize the expected reduction in overhead expenses as a result of our reduction in force; volatility of the global financial markets and uncertain economic conditions, including changes in interest rates, inflationary pressures, recessionary concerns or global supply chain issues; public response to and changes in the local, state and federal regulatory framework affecting renewable energy projects; risks associated with changes in the fair value of our investments and the methods we use to estimate the fair value of our assets; and other risks and uncertainties discussed in our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

    Non-GAAP Financial Measures
    In addition to evaluating the Company’s performance on a U.S. GAAP basis, the Company utilizes certain non-GAAP financial measures to analyze the operating performance of our segments as well as our consolidated business. Each of these measures should not be considered in isolation from or as superior to or as a substitute for other financial measures determined in accordance with U.S. GAAP, such as net income (loss) or operating income (loss). The Company uses these non-GAAP financial measures to supplement its U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting its operations.

    Adjusted EBITDA
    Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure, as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis, as it includes adjustments relating to items that are not indicative on the ongoing operating performance of the business.

    Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with U.S. GAAP. Adjusted EBITDA should not be considered in isolation from or as superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP. Additionally, our calculations of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

    Funds From Operations (FFO)
    FFO is a non-GAAP financial measure that the Company uses as a performance measure to analyze net earnings from operations without the effects of certain non-recurring items that are not indicative of the ongoing operating performance of the business. FFO is calculated using Adjusted EBITDA less the impact of interest expense (excluding the non-cash component) and distributions to tax equity investors under the financing facilities associated with our IPP segment. 

    The Company believes that the analysis and presentation of FFO will enhance our investor’s understanding of the ongoing performance of our operating business. The Company considers FFO, in addition to other GAAP and non-GAAP measures, in assessing operating performance and as a proxy for growth in distribution coverage over the long term.

    FFO should not be considered in isolation from or as a superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP.

    General Disclosure
    This information has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, or to participate in any trading or investment strategy. The information presented herein may involve Greenbacker’s views, estimates, assumptions, facts, and information from other sources that are believed to be accurate and reliable and are, as of the date this information is presented, subject to change without notice.

     
    GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except per share data)
        December 31, 2024   December 31, 2023
             
    Assets        
    Current assets:        
    Cash and cash equivalents   $ 120,057     $ 96,872  
    Restricted cash, current     38,403       85,235  
    Accounts receivable, net     27,103       23,310  
    Derivative assets, current     17,632       24,062  
    Other current assets     28,586       62,429  
    Total current assets     231,781       291,908  
    Noncurrent assets:        
    Restricted cash     3,128       5,568  
    Property, plant and equipment, net     2,232,486       2,133,877  
    Intangible assets, net     362,352       453,214  
    Goodwill           221,314  
    Investments, at fair value     74,136       94,878  
    Derivative assets     98,495       118,106  
    Other noncurrent assets     242,667       140,740  
    Total noncurrent assets     3,013,264       3,167,697  
    Total assets   $ 3,245,045     $ 3,459,605  
    Liabilities, Redeemable Noncontrolling Interests and Equity        
    Current liabilities:        
    Accounts payable and accrued expenses   $ 69,464     $ 79,288  
    Shareholder distributions payable           7,606  
    Contingent consideration, current     15,293       16,546  
    Current portion of long-term debt     88,901       82,855  
    Current portion of failed sale-leaseback financing and deferred ITC gain     45,868       69,436  
    Other current liabilities     8,767       7,997  
    Total current liabilities     228,293       263,728  
    Noncurrent liabilities:        
    Long-term debt, net of current portion     1,001,654       935,397  
    Failed sale-leaseback financing and deferred ITC gain, net of current portion     201,601       169,829  
    Contingent consideration, net of current portion     300       42,307  
    Deferred tax liabilities, net     35,316       58,696  
    Operating lease liabilities     196,911       108,406  
    Out-of-market contracts, net     180,640       194,785  
    Other noncurrent liabilities     59,261       53,492  
    Total noncurrent liabilities     1,675,683       1,562,912  
    Total liabilities   $ 1,903,976     $ 1,826,640  
    Redeemable noncontrolling interests   $ 1,851     $ 2,179  
    Redeemable common shares, par value, $0.001 per share, nil and 873 outstanding as of 2024 and 2023, respectively           1  
    Redeemable common shares, additional paid-in capital           7,245  
    Equity:        
    Preferred shares, par value, $0.001 per share, 50,000 authorized; none issued and outstanding            
    Common shares, par value, $0.001 per share, 350,000 authorized, 199,326 and 197,749 outstanding as of 2024 and 2023, respectively     199       198  
    Additional paid-in capital     1,773,758       1,770,060  
    Accumulated deficit     (584,733 )     (306,525 )
    Accumulated other comprehensive income     34,937       45,932  
    Noncontrolling interests     115,057       113,875  
    Total equity     1,339,218       1,623,540  
    Total liabilities, redeemable noncontrolling interests and equity   $ 3,245,045     $ 3,459,605  
             
             
    GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except per share data)
        Year ended December 31,
          2024       2023  
    Revenue        
    Energy revenue   $ 185,225     $ 159,301  
    Investment Management revenue     18,757       13,490  
    Other revenue     6,085       8,434  
    Contract amortization, net     (14,301 )     (8,060 )
    Total net revenue   $ 195,766     $ 173,165  
             
    Operating expenses        
    Direct operating costs     124,681       105,586  
    General and administrative     52,552       60,617  
    Change in fair value of contingent consideration     (39,348 )     (603 )
    Depreciation, amortization and accretion     81,953       125,743  
    Gain on deconsolidation, net     (5,622 )      
    Impairment of goodwill     221,314        
    Impairment of long-lived assets, net and project termination costs     88,410       59,294  
    Total operating expenses     523,940       350,637  
             
    Operating loss     (328,174 )     (177,472 )
             
    Interest expense, net     (7,612 )     (20,328 )
    Change in fair value of investments, net     (14,701 )     932  
    Income from sale-leaseback transfer of tax benefits     22,764        
    Other income (expense), net     2,436       (267 )
             
    Loss before income taxes     (325,287 )     (197,135 )
    Benefit (expense) from income taxes     19,378       21,548  
    Net loss   $ (305,909 )   $ (175,587 )
    Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests     (63,609 )     (96,116 )
    Net loss attributable to Greenbacker Renewable Energy Company LLC   $ (242,300 )   $ (79,471 )
             
    Earnings per share        
    Basic   $ (1.22 )   $ (0.40 )
    Diluted   $ (1.22 )   $ (0.40 )
             
    Weighted average shares outstanding        
    Basic     199,313       199,293  
    Diluted     199,313       199,293  
             
             
    GREENBACKER RENEWABLE ENERGY COMPANY LLC AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
        Year ended December 31,
          2024       2023  
    Cash Flows from Operating Activities        
    Net loss   $ (305,909 )   $ (175,587 )
    Adjustments to reconcile Net loss to Net cash provided by operating activities:        
    Depreciation, amortization and accretion     96,254       133,803  
    Gain on deconsolidation, net     (5,622 )      
    Impairment of goodwill     221,314        
    Impairment of long-lived assets, net     74,782       59,294  
    Loss on sale of Illinois Winds LLC     12,656        
    Share-based compensation expense     378       11,248  
    Changes in fair value of contingent consideration     (39,348 )     (603 )
    Amortization of financing costs and debt discounts     6,261       6,711  
    Amortization of interest rate swap contracts     (1,055 )     6,750  
    Change in fair value of interest rate swaps, net     (44,748 )     (17,763 )
    Gain on interest rate swaps, net     (1,356 )     (2,428 )
    Change in fair value of investments     14,701       (932 )
    Deferred income taxes     (19,378 )     (21,548 )
    Interest expense on failed sale-leaseback financing and deferred ITC gain     7,549        
    Income from sale-leaseback transfer of tax benefits     (22,764 )      
    Other     3,565       5,743  
    Changes in operating assets and liabilities:        
    Accounts receivable     (4,864 )     (2,959 )
    Current and noncurrent derivative assets     52,602       56,696  
    Other current and noncurrent assets     9,416       (10,661 )
    Accounts payable and accrued expenses     14,164       14,891  
    Operating lease liabilities     (1,543 )     (1,290 )
    Other current and noncurrent liabilities     420       1,036  
    Net cash provided by operating activities     67,475       62,401  
             
    Cash Flows from Investing Activities        
    Purchases of property, plant and equipment     (287,822 )     (360,650 )
    Net deposits returned (paid) for property, plant and equipment     8,155       8,138  
    Proceeds from sale of Illinois Winds LLC     36,563        
    Purchases of investments     (734 )     (5,298 )
    Return of capital on investments     6,775       3,906  
    Loans made to other parties     (19,742 )      
    Receipts from notes receivable     46,204       30,725  
    Net cash used in investing activities     (210,601 )     (323,179 )
             
    Cash Flows from Financing Activities        
    Shareholder distributions     (37,196 )     (87,597 )
    Return of collateral paid for swap contract           1,735  
    Repurchases of common shares     (6,428 )     (82,719 )
    Shares withheld related to net share settlement of equity awards     (1,880 )      
    Deferred shareholder servicing fees     (3,150 )     (3,486 )
    Contributions from noncontrolling interests     110,216       144,895  
    Distributions to noncontrolling interests     (17,850 )     (17,498 )
    Proceeds from borrowings     404,580       425,532  
    Payments on borrowings     (320,174 )     (351,764 )
    Proceeds from failed sale-leaseback     111,453       240,969  
    Payments on failed sale-leaseback     (87,089 )      
    Payments for loan origination costs     (34,698 )     (11,447 )
    Other capital activity     (745 )     (865 )
    Net cash provided by financing activities     117,039       257,755  
    Net decrease in Cash, cash equivalents and Restricted cash     (26,087 )     (3,023 )
    Cash, cash equivalents and Restricted cash at beginning of period*     187,675       190,698  
    Cash, cash equivalents and Restricted cash at end of period   $ 161,588     $ 187,675  
             
    *Cash, cash equivalents and Restricted cash as of May 18, 2022 includes all consolidated subsidiaries of the Company upon the change in status.


    Non-GAAP Reconciliations

    Adjusted EBITDA

    Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis as it includes adjustments relating to items that are not indicative of the ongoing operating performance of the business.

    The Company defines Adjusted EBITDA as net income (loss) before: (i) interest expense; (ii) income taxes; (iii) depreciation expense; (iv) amortization expense (including contract amortization); (v) accretion; (vi) impairment of long-lived assets; (vii) amounts attributable to our redeemable and non-redeemable noncontrolling interests; (viii) unrealized gains and losses on financial instruments; (ix) gains and losses for asset dispositions; (x) other income (loss); and (xi) foreign currency gain (loss). Additionally, the Company further adjusts for the following items described below:

    • Share-based compensation is excluded from Adjusted EBITDA as it is different from other forms of compensation as it is a non-cash expense and is highly variable. For example, a cash salary generally has a fixed and unvarying cash cost. In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a share-based compensation valuation methodology and underlying assumptions that may vary over time;
    • The change in fair value of contingent consideration, which is related to the Acquisition, is excluded from Adjusted EBITDA, if any such change occurs during the period. The non-cash, mark-to-market adjustments are based on the expected achievement of revenue targets that are difficult to forecast and can be variable, making comparisons across historical and future quarters difficult to evaluate;
    • Beginning 2024, start-up costs associated with new investment strategies is excluded from Adjusted EBITDA. The Company evaluates new investment strategies on a regular basis and excludes start-up cost from Adjusted EBITDA until such time as a new strategy is determined to form part of the Company’s core investment management business.
    • Beginning 2024, placement fees, including internal sales commissions, related to fundraising efforts based on the capital raised, are excluded from Adjusted EBITDA. By excluding these fundraising-related fees from Adjusted EBITDA, we focus on core operational performance, separate from capital raising efforts, which might vary significantly from period to period.
    • Other costs that are not consistently occurring, not reflective of expected future operating expense and provide no insight into the fundamentals of current or past operations of our business are excluded from Adjusted EBITDA. This includes costs such as professional services and legal fees, and other non-recurring costs unrelated to the ongoing operations of the Company.

    Adjusted EBITDA is a performance measure used by management that is not calculated in accordance with U.S. GAAP. Adjusted EBITDA should not be considered in isolation from or as superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP. Additionally, our calculations of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

    FFO

    FFO is a non-GAAP financial measure that the Company uses as a performance measure to analyze net earnings from operations without the effects of certain non-recurring items that are not indicative of the ongoing operating performance of the business.

    FFO is calculated using Adjusted EBITDA less the impact of interest expense (excluding the non-cash component) and distributions to Tax Equity Investors under the financing facilities associated with our IPP segment. The Company excludes these distributions as these are not recorded within Adjusted EBITDA and is therefore not a component of our earnings from operations.

    The Company believes that the analysis and presentation of FFO will enhance our investors’ understanding of the ongoing performance of our operating business. The Company considers FFO, in addition to other GAAP and non-GAAP measures, in assessing operating performance and as a proxy for growth in distribution coverage over the long-term.

    Adjusted EBITDA and FFO should not be considered in isolation from or as a superior to or as a substitute for net income (loss), operating income (loss) or any other measure of financial performance calculated in accordance with U.S. GAAP.

    The following table reconciles Net loss attributable to Greenbacker Renewable Energy Company LLC to Adjusted EBITDA and FFO:

        Three months ended December 31,   Year ended December 31,
    (in thousands)     2024       2023       2024       2023  
    Net loss attributable to Greenbacker Renewable Energy Company LLC   $ (176,623 )   $ (15,822 )   $ (242,300 )   $ (79,471 )
    Add back or deduct the following:                
    Net loss attributable to noncontrolling interests and redeemable noncontrolling interests     (14,635 )     (30,307 )     (63,609 )     (96,116 )
    Benefit (expense) from income taxes     (16,799 )     (7,393 )     (19,378 )     (21,548 )
    Interest expense, net     (27,546 )     28,240       7,612       20,328  
    Depreciation, amortization and accretion(1)     25,310       15,589       97,056       134,647  
    EBITDA   $ (210,293 )   $ (9,693 )   $ (220,619 )   $ (42,160 )
    Share-based compensation expense     (12,602 )     1,255       378       11,248  
    Change in fair value of contingent consideration     (35,584 )     3,500       (39,348 )     (603 )
    Change in fair value of investments, net     15,357       (2,200 )     14,701       (932 )
    Income from sale-leaseback transfer of tax benefits     (22,764 )           (22,764 )      
    Other income (expense), net     (1,808 )     512       (2,436 )     267  
    Gain on deconsolidation, net     100             (5,622 )      
    Loss on asset disposition     12,932             12,932        
    Impairment of goodwill     221,314             221,314        
    Impairment of long-lived assets, net and project termination costs     55,700       8,632       88,410       59,294  
    Non-recurring professional services and legal fees     1,560       468       8,654       3,388  
    Non-recurring salaries and personnel related expenses(2)     2,491             4,150       1,250  
    Adjusted EBITDA   $ 26,403     $ 2,474     $ 59,750     $ 31,752  
    Cash portion of interest expense     (7,828 )     (7,869 )     (30,217 )     (27,473 )
    Distributions to tax equity investors     (4,327 )     (2,449 )     (18,848 )     (15,748 )
    FFO   $ 14,248     $ (7,844 )   $ 10,685     $ (11,469 )
                     
    (1) Includes contract amortization, net in the amount of $4.9 million, $5.8 million, $14.3 million, and $8.1 million for the three months ended December 31, 2024 and 2023 and the years ended December 31, 2024 and 2023, respectively, which are included in Contract amortization, net on the Consolidated Statements of Operations; also includes certain other amortization costs included in Direct operating costs and General and administrative on the Consolidated Statements of Operations.
                     
    (2) Non-recurring salaries and personnel related expenses for 2024 include start-up costs which primarily include salaries and personnel related expenses of incremental employees hired in advance to launch new investment strategy initiatives. Given the nature and scale of the related costs and activities, management does not view these as normal, recurring operating expenses, but rather as non-recurring investments to initially develop our new funds. Therefore, we believe it is useful and necessary for investors to understand our core operating performance in current and future periods by excluding the impact of these start-up costs as incurred. Non-recurring salaries and personnel related expenses for 2024 also include placement fees, including internal sales commission.

    Adjusted EBITDA for the year ended December 31, 2024 has not been adjusted for the charges of $16.6 million incurred as part of a settlement agreement with a third-party vendor due to the termination of the existing purchase contract in order to acquire the solar panels needed for our development and construction pipeline from a different vendor with significantly better economic proposition due to reduced expected cash outlays.

    The following table reconciles total Segment Adjusted EBITDA to Net loss attributable to Greenbacker Renewable Energy Company LLC: 

        Three months ended December 31,   Year ended December 31,
    (in thousands)     2024       2023       2024       2023  
    Segment Adjusted EBITDA:                
    IPP Adjusted EBITDA   $ 26,532     $ 6,721     $ 81,197     $ 62,180  
    IM Adjusted EBITDA     3,033       1,601       2,051       (2,674 )
    Total Segment Adjusted EBITDA   $ 29,565     $ 8,322     $ 83,248     $ 59,506  
                     
    Reconciliation:                
    Total Segment Adjusted EBITDA   $ 29,565     $ 8,322     $ 83,248     $ 59,506  
    Unallocated corporate expenses     (3,162 )     (5,848 )     (23,498 )     (27,754 )
    Total Adjusted EBITDA     26,403       2,474       59,750       31,752  
                     
    Less:                
    Share-based compensation expense     (12,602 )     1,255       378       11,248  
    Change in fair value of contingent consideration     (35,584 )     3,500       (39,348 )     (603 )
    Gain on deconsolidation, net     100             (5,622 )      
    Loss on asset disposition     12,932             12,932        
    Impairment of goodwill     221,314             221,314        
    Impairment of long-lived assets, net and project termination costs     55,700       8,632       88,410       59,294  
    Depreciation, amortization and accretion(1)     25,310       15,589       97,056       134,647  
    Non-recurring professional services and legal fees     1,560       468       8,654       3,388  
    Non-recurring salaries and personnel related expenses(2)     2,491             4,150       1,250  
    Operating loss   $ (244,818 )   $ (26,970 )   $ (328,174 )   $ (177,472 )
                     
    Interest expense, net     27,546       (28,240 )     (7,612 )     (20,328 )
    Change in fair value of investments, net     (15,357 )     2,200       (14,701 )     932  
    Income from sale-leaseback transfer of tax benefits     22,764             22,764        
    Other income (expense), net     1,808       (512 )     2,436       (267 )
    Loss before income taxes   $ (208,057 )   $ (53,522 )   $ (325,287 )   $ (197,135 )
                     
    Benefit from income taxes     16,799       7,393       19,378       21,548  
    Net loss   $ (191,258 )   $ (46,129 )   $ (305,909 )   $ (175,587 )
                     
    Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests     (14,635 )     (30,307 )     (63,609 )     (96,116 )
    Net loss attributable to Greenbacker Renewable Energy Company LLC   $ (176,623 )   $ (15,822 )   $ (242,300 )   $ (79,471 )
                     
    (1) Includes contract amortization, net in the amount of $4.9 million, $5.8 million, $14.3 million, and $8.1 million for the three months ended December 31, 2024 and 2023 and the years ended December 31, 2024 and 2023, respectively, which are included in Contract amortization, net on the Consolidated Statements of Operations; also includes certain other amortization costs included in Direct operating costs and General and administrative on the Consolidated Statements of Operations.
                     
    (2) Non-recurring salaries and personnel related expenses for 2024 include start-up costs which primarily include salaries and personnel related expenses of incremental employees hired in advance to launch new investment strategy initiatives. Given the nature and scale of the related costs and activities, management does not view these as normal, recurring operating expenses, but rather as non-recurring investments to initially develop our new funds. Therefore, we believe it is useful and necessary for investors to understand our core operating performance in current and future periods by excluding the impact of these start-up costs as incurred. Non-recurring salaries and personnel related expenses for 2024 also include placement fees, including internal sales commission.


    About Greenbacker Renewable Energy Company

    Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides investment management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its investment management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.

    About Greenbacker Capital Management
    Greenbacker Capital Management LLC is an SEC registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit www.greenbackercapital.com.

    Greenbacker media contact
    Chris Larson
    Media Communications
    646.569.9532
    c.larson@greenbackercapital.com

    ____________________________________________
    ¹ The financial and portfolio metrics set forth herein are unaudited and subject to change. Data as of December 31, 2024. Total assets and megawatts statistics include those projects where we have contracted for the acquisition of the project pursuant to a Membership Interest Purchase Agreement (“MIPA”).
    ² Includes pre-operating and operating assets across combined GREC and GREC II portfolios. Data as of December 31, 2024.
    ³ Total operating revenue excludes non-cash contract amortization, net.
    ⁴ Adjusted EBITDA is a non-GAAP financial measure that the Company uses as a performance measure, as well as for internal planning purposes. We believe that Adjusted EBITDA is useful to management and investors in providing a measure of core financial performance adjusted to allow for comparisons of results of operations across reporting periods on a consistent basis, as it includes adjustments relating to items that are not indicative on the ongoing operating performance of the business. See “Non-GAAP Financial Measures” for additional discussion. Adjusted EBITDA is unaudited. See the Company’s 10-K filed with the SEC for additional financial information and important related disclosures.
    ⁵ Data as of December 31, 2024. Total assets and megawatts statistics include those projects where we have contracted for the acquisition of the project pursuant to a Membership Interest Purchase Agreement (“MIPA”). The financial and portfolio metrics set forth herein are unaudited and subject to change
    ⁶ Does not include power generated from biomass facility during 2023 and a portion of 2024, and also does not include assets in which the Company holds a preferred equity position
    ⁷ Frequently Asked Questions (FAQs) – U.S. Energy Information Administration (EIA)
    ⁸ Data is as of December 31, 2024. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.

    ⁹ Data is as of December 31, 2024. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
    ¹⁰ Data is as of December 31, 2024. Green jobs calculated using The National Renewable Energy Laboratory (NREL) State Clean Energy Employment Projection Support, nrel.gov.

    The MIL Network

  • MIL-OSI: Sky Quarry Reports 4th Quarter and Fiscal Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    WOODS CROSS, Utah, April 01, 2025 (GLOBE NEWSWIRE) — Sky Quarry Inc. (NASDAQ: SKYQ) (“Sky Quarry” or “the Company”), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, has reported its financial and operational results for the fourth quarter and fiscal year ended December 31, 2024.

    Key Financial and Operational Highlights

    • Q4 2024 Revenue of $4.2 million and $23.3 million for the year ended December 31, 2024.
    • Announced the signing of pivotal LOI with RB Residential Roofing, marking the start of a collaboration that targets integrating eco-friendly solutions into roofing services and helping Sky Quarry scale operations nationwide through the roofing company’s multiple locations.
    • Announced appointment of respected finance leader Leo Womack to the Company’s Board of Directors. He will also serve on the Audit and Nominating Committee and chair the Compensation Committee.
    • Announced the completion of its 2024 capital expenditure program for its flagship hydrocarbon extraction site, PR Spring.
    • Announced a national rollout plan for modular extraction facilities to expand the reach and scalability of the Company’s proprietary technology.
    • Announced the appointment of energy industry veteran Todd Palin to the Company’s Board of Directors.

    David Sealock, Chairman & Chief Executive Officer of Sky Quarry, reflected on a transformative year for the company:

    “2024 was a significant year for our company. Sky Quarry achieved several key milestones in 2024, including our NASDAQ listing for our shareholders, continued and steady revenue at our Foreland Refinery, and a stepwise capital investment program to keep our PR Spring and Asphalt Shingle Recycling (ASR) portfolios moving forward,” he said. “We believe that we are positioned to grow production and increase revenues with our portfolio expansion projects. These portfolio expansion opportunities focus on capitalizing on market shifts, strategic partnerships, and resource optimization. The primary opportunities are in the expansion of refining capacity, partnerships for sustainable asphalt shingle recycling, and the potential for strategic growth to aggressively increase our revenue.

    Looking ahead, we remain laser-focused on optimizing our asset base with the successful completion of our 2024 capital expenditure program at PR Spring and the recent refurbishment of our Foreland Refinery in anticipation of increased capacity in 2025. We are actively working towards expanding our national footprint through our recent LOI with RB Residential Roofing and advancing the national rollout of our Asphalt Shingle Recycling (“ASR”) modular extraction facilities, beginning with the deployment of our first facility in the 2025 fiscal year. Together, we believe that these initiatives set the stage for meaningful revenue growth, broader market reach, and long-term value creation for our shareholders.

    This quarter, we entered into a pivotal LOI with RB Residential Roofing with the goal of entering into an agreement to secure a steady supply of post-consumer shingles, ensuring a steady supply of feedstock for our recycling operations. We believe that a partnership with RB Residential Roofing will generate consistent tipping fee revenue and accelerate Sky Quarry’s national expansion by leveraging RB’s extensive network of locations. By transforming waste into recycled content for new products, we believe entering into an agreement with RB Residential Roofing will not only support our mission to build a circular economy but also position Sky Quarry at the forefront of sustainable innovation in the roofing industry, helping to drive broader industry adoption.

    In the 2025 fiscal year, we anticipate completing the build-out of our first Asphalt Shingle Recycling (“ASR”) Facility. Designed as a modular, scalable system, the facility will recover valuable components such as bitumen, granules, aggregate, limestone, and fiberglass. The first front-end module has already been fabricated, with two additional modules planned for deployment later in the year. We are currently evaluating two potential sites for the initial rollout, based on waste volume and proximity to industry partners. These facilities are expected to generate multiple revenue streams from tipping fees, recycled material sales, and byproduct recovery, contributing to meaningful top-line growth as deployment accelerates.

    Operationally, we expect to begin refining blended sustainable oil in 2025, with plans to ramp up production at our Nevada-based Foreland Refinery, which has a processing capacity of up to 5,000 barrels per day. This comes at a critical time, as we anticipate a growing fuel supply crisis in the Western U.S., driven by California refinery shutdowns, tightening regulations, and potential import tariffs that threaten supply stability.

    Foreland has served as a strategic energy asset in Nevada for over two decades, and we believe it is well-positioned to enhance regional fuel security. Once heavy oil sourced from our Utah-based PR Spring facility, produced from recycled asphalt shingles, is integrated at the Foreland refinery, we can not only expand our sustainable product offerings but also reinforce our presence in the energy sector. With broadened capabilities and strategic positioning, we anticipate stronger revenue and improved cash flow in the coming quarters.

    In conclusion, we recently welcomed Leo Womack and Todd Palin to our Board of Directors. Mr. Womack brings significant strategic, business, and financial expertise, while Mr. Palin’s operational experience will be instrumental as Sky Quarry ramps up production at our Nevada refinery. Both additions strengthen our leadership team as we enter our next phase of growth in 2025.”

    Fourth Quarter and Fiscal Year 2024 Financial Results

    Revenues for the year ended December 31, 2024, totaled $23.3 million, a decrease of 54% compared to $50.7 million in 2023. This decline was primarily driven by a combination of lower WTI oil prices and the refurbishment of the Company’s Foreland Refinery.

    Gross profit for the year was a loss of $1.4 million, representing a gross margin of (6.0)%, compared to a gross profit of $2.3 million, or 4.6% of revenues, in the prior year.

    Total operating expenses increased to $6.1 million in 2024, up from $3.7 million in 2023, reflecting an increase of $2.4 million year-over-year.

    As a result, the Company reported a net loss of $14.7 million for the year ended December 31, 2024, compared to a net loss of $4.4 million in 2023.

    About Sky Quarry Inc.

    Sky Quarry Inc. (NASDAQ:SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.

    Forward-Looking Statements

    This press release may include ”forward-looking statements.” All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the Company’s Form 10-K as filed with the SEC on March 31, 2025. Forward-looking statements speak only as of the date of the document in which they are contained.

    Investor Relations
    Jennifer Standley
    Director of Investor Relations
    Ir@skyquarry.com

    Company Website
    www.skyquarry.com

     
     
    Sky Quarry Inc.
    Consolidated Balance Sheets
    As of December 31, 2024 and December 31, 2023
     
        2024       2023  
           
    ASSETS      
           
    Current assets:      
    Cash and cash equivalents $                 385,116     $                 326,822  
    Accounts receivables                   1,123,897                       3,517,469  
    Prepaid expenses and other assets                   339,124                       114,387  
    Inventory                   3,149,236                       2,437,181  
    Total current assets                   4,997,373                       6,395,859  
           
    Property, plant, and equipment, net                   6,160,318                       6,287,351  
    Oil and gas properties                   8,534,967                       7,745,205  
    Restricted cash and cash equivalents                   2,929,797                       4,354,014  
    Right-of-use asset                   1,115,785                       184,548  
    Goodwill                   3,209,003                       3,209,003  
           
    Total assets $                 26,947,243     $                 28,175,980  
           
    LIABILITIES AND SHAREHOLDERS’ EQUITY      
           
    Current liabilities:      
    Accounts payable and accrued expenses $                 4,046,319     $                 4,904,121  
    Current portion of operating lease liability                   38,422                       69,777  
    Current portion of finance lease liability                   16,120                       –  
    Warrant liability                   459,067                       –  
    Lines of credit                   1,260,727                       3,061,698  
    Current maturities of notes payable                   6,578,017                       4,835,567  
    Total current liabilities                   12,398,672                       12,871,163  
           
    Notes payable, less current maturities, net of debt issuance costs                   2,000,560                       2,100,514  
    Operating lease liability, net of current portion                   77,824                       116,246  
    Finance lease liability, net of current portion                   971,690                       –  
    Total liabilities                   15,448,746                       15,087,923  
           
    Commitments and contingencies      
           
    Shareholders’ Equity:      
    Preferred stock $0.001 par value: 25,000,000 shares authorized; 0 and 246,000 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively                   –                       246  
    Common stock $0.0001 par value: 100,000,000 shares authorized: 19,027,208 and 16,323,091 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively                   1,903                       1,630  
    Additional paid in capital                   35,674,391                       22,527,264  
    Accumulated other comprehensive loss                   (209,708 )                     (201,505 )
    Accumulated deficit                   (23,968,089 )                     (9,239,578 )
    Total shareholders’ equity                   11,498,497                       13,088,057  
           
    Total liabilities and shareholders’ equity $                 26,947,243     $                 28,175,980  
       
    Sky Quarry Inc.
    Consolidated Statements of Operations and Comprehensive Loss
    For the Years Ended December 31, 2024 and 2023
       
        2024       2023  
    Net sales $                 23,364,188     $                 50,731,889  
           
    Cost of goods sold                   24,759,530                       48,391,724  
    Gross profit (loss)                   (1,395,342 )                     2,340,165  
           
    Operating expenses:      
    General and administrative                   6,121,955                       3,702,743  
    Depreciation and amortization                   5,889                       5,303  
    Total operating expenses                   6,127,844                       3,708,046  
           
    Loss from operations                   (7,523,186 )                     (1,367,881 )
           
    Other income (expense):      
    Gain on warrant valuation                   1,477,870                       –  
    Other income                   35,637                       26,008  
    Gain (loss) on sale of assets                   (25,075 )                     564,811  
    Loss on extinguishment of debt                   (241,311 )                     (205,425 )
    Loss on issuance of private placement warrants                   (1,935,934 )                     –  
    Interest expense                   (6,516,512 )                     (3,639,520 )
    Other expense, net                   (7,205,325 )                     (3,254,126 )
           
    Loss before benefit from income taxes                   (14,728,511 )                     (4,622,007 )
           
    Provision for income tax benefit                   –                       185,535  
           
    Net loss                   (14,728,511 )                     (4,436,472 )
           
    Other comprehensive loss      
           
    Foreign currency translation adjustment      
                        (8,203 )                     (24,185 )
           
    Comprehensive loss $                 (14,736,714 )   $                 (4,460,657 )
           
    Loss per common share      
    Basic and diluted $                 (0.77 )   $                 (0.27 )
    Weighted average shares outstanding      
    Basic and diluted                   19,027,208                       16,323,103  
     
    Sky Quarry Inc.
    Consolidated Statements of Cash Flows
    For the Years Ended December 31, 2024 and 2023
     
        2024       2023  
    CASH FLOWS FROM OPERATING ACTIVITIES      
    Net loss $                 (14,728,511 )   $                 (4,436,472 )
    Adjustments to reconcile net loss to cash and restricted cash and cash equivalents used in operating activities:      
    Share based compensation                   632,205                       634,783  
    Depreciation and amortization                   793,449                       564,639  
    Amortization of debt issuance costs                   4,465,636                       2,568,523  
    Amortization of right-of-use asset                   90,990                       37,925  
    Loss on issuance of warrants                   1,936,937                       –  
    Gain on revaluation of warrant liabilities                   (1,477,870 )                     –  
    Loss on extinguishment of debt                   241,311                       205,425  
    Loss (gain) on sale of assets                   25,075                       (564,811 )
    Changes in operating assets and liabilities:      
    Accounts receivable                   2,393,572                       719,595  
    Prepaid expenses and other assets                   (224,738 )                     155,114  
    Inventory                   (712,055 )                     1,004,383  
    Accounts payable and accrued expenses                   (857,802 )                     (1,040,860 )
    Operating lease liability                   (69,777 )                     (36,450 )
    Deferred tax benefit                   –                       (187,856 )
    Net cash and restricted cash and cash equivalents used in operating activities                   (7,491,578 )                     (376,062 )
           
    CASH FLOWS FROM INVESTING ACTIVITIES      
           
    Proceeds from sale of assets                   –                       961,400  
    Purchase of property, plant, and equipment                   (691,491 )                     (1,028,781 )
    Purchase of oil and gas development assets                   (789,762 )                     (664,556 )
    Net cash and restricted cash and cash equivalents used in investing activities                   (1,481,253 )                     (731,937 )
           
    CASH FLOWS FROM FINANCING ACTIVITIES      
    Proceeds on lines of credit                   36,645,980                       61,499,106  
    Payments on lines of credit                   (38,446,951 )                     (58,437,408 )
    Proceeds from note payable                   19,483,052                       17,721,772  
    Payments on note payable                   (17,032,995 )                     (12,905,339 )
    Debt discount on note payable                   (2,546,660 )                     (3,588,539 )
    Payments on finance leases                   (34,417 )                     –  
    Proceeds on issuance of preferred stock                   308,000                       614,804  
    Preferred stock offering costs                   (40,874 )                     (474,681 )
    Proceeds on issuance of common stock                   11,341,641                       28,739  
    Common stock offering costs                   (2,061,665 )                     –  
    Net cash and restricted cash and cash equivalents generated by financing activities                   7,615,111                       4,458,454  
           
    Effect of exchange rate on cash                   (8,203 )                     (24,185 )
           
    Increase (decrease) in cash and restricted cash and cash equivalents                   (1,365,923 )                     3,326,270  
    Cash and cash equivalents and restricted cash, beginning of the period                   4,680,836                       1,354,566  
           
    Cash and restricted cash and cash equivalents, end of the period $                 3,314,913     $                 4,680,836  

    The MIL Network

  • MIL-OSI: Fundamental Global Inc. Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Mooresville, NC, April 01, 2025 (GLOBE NEWSWIRE) — Fundamental Global Inc. (Nasdaq: FGF, FGFPP) (the “Company” or “Fundamental Global”) today announced results for the fourth quarter and full year ended December 31, 2024.

    Kyle Cerminara, Chairman and Chief Executive Officer commented, “During 2024, we implemented initiatives to consolidate multiple public companies and streamline and simplify our operating structure. We successfully completed three merger transactions, monetized one of our real estate holdings, and continued to drive operating profit improvements in our managed services business. Recently, we announced an agreement for the sale of a portion of our reinsurance business for $5.6 million which we expect to close in the first half of 2025.”

    “Our balance sheet is strong, with $109 million in total assets, nominal long-term debt and $74 million in stockholders’ equity. As part of our ongoing strategic evaluation, we will continue to focus on streamlining and simplifying our operations and increasing capital allocated to cash flow producing assets.”

    Key Operational Highlights:

      In February 2024, the Company completed its merger with FG Group Holdings Inc. to consolidate operations, reduce operating costs and streamline the Company’s operations.
         
      In April 2024, the Company completed the sale of its Digital Ignition facility in Alpharetta, Georgia significantly reducing general and administrative expenses and long-term debt obligations.
         
      In September 2024, the Company completed the sale of its Strong/MDI Screen Systems, Inc. operating subsidiary for approximately $30 million and launched Saltire Capital Ltd. as a Canadian public company.
         
      In September 2024, the Company completed its merger with Strong Global Entertainment, Inc. to further reduce operating expenses and streamline the Company’s operations.
         
      In October 2024, our merchant banking team announced the closing of an initial public offering for Aldel Financial II Inc., a SPAC client for the Company.
         
      In February 2025, our merchant banking team announced the closing of an initial public offering for FG Merger II Corp., a SPAC client for the Company.
         
      In March 2025, the Company executed an agreement for the sale of a portion of its reinsurance business for $5.6 million.
         

    Financial Highlights

    Note: The financial results reflect the Company’s performance following the reverse merger between Fundamental Global Inc. and FG Group Holdings, Inc. Consequently, the financial results for periods prior to the merger include only the operations of FG Group Holdings, while results after February 29, 2024, reflect the combined operations of Fundamental Global. Additionally, the results of Strong/MDI and the Company’s reinsurance operations have been reclassified as discontinued operations and are not included in the results of continuing operations.

    As of December 31, 2024, the Company’s key balance sheet items included:

      Total assets of $109.5 million, an increase of $47.3 million from December 31, 2023. Assets included equity holdings of $60.1 million, which included directly or indirectly held positions in Saltire Capital, Ltd., GreenFirst Forest Products, Inc., Firefly Media Systems Inc., OppFi Inc., FG Communities, Inc., Craveworthy LLC, and other holdings.
         
      Total stockholders’ equity of $74.2 million, an increase of $37.2 million from December 31, 2023, reflecting the increased scale of the Company following the merger transactions and consolidation initiatives.
         
      Short- and long-term debt totaled $2.4 million, a decrease of $5.4 million from December 31, 2023.
         

    Revenue during 2024 increased $0.3 million or 1.5% to $17.3 million for the year. Revenue from managed services increased $5.5 million or 20.7% to $32.0 million on increasing demand from entertainment operators and contributions from the acquisition of Innovative Cinema Solutions in late 2023. Revenue growth from managed services was partially offset by increased non-cash equity method losses in the current year period.

    Net loss attributable to common shareholders improved to $2.6 million for the year from a loss of $14.1 million in the prior year primarily due to the $21.8 million gain on the sale of Strong/MDI recognized during the year and improved performance in managed services. Net loss from continuing operations increased to $22.9 million from $12.3 million for the year. Stronger gross profit from managed services was offset by the addition of expenses of FGF which are not included in the periods prior to the merger and increased non-cash equity method losses.

    Net loss per common share improved to $2.43 from $35.22 per common share in the prior year and net loss per common share from continuing operations improved to $22.84 from $29.38. The improvements are primarily due to the $21 million gain on the sale of Strong/MDI recognized during the 2024, as well as an increase in the number of weighted average shares outstanding as a result of the merger of the Company and FG Group Holdings.

    Fundamental Global Inc. 

    Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, and managed services.

    The FG® logo and Fundamental Global® are registered trademarks of Fundamental Global LLC.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this press release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation, general conditions in the global economy; risks associated with operating in the merchant banking, and managed services industries, including inadequately priced insured risks, credit risk; our inability to execute on our multi-industry business strategy and potential loss of value of investments; risk of becoming an investment company; fluctuations in our short-term results as we implement our business strategies; risks of being unable to close the sale of our reinsurance business in a reasonable time period or at all; risks of not being able to execute on our investment and investment management strategy and potential loss of value of holdings; risk of becoming an investment company; fluctuations in our short-term results as we implement our business strategies; risks of being unable to close the sale of our reinsurance business in a reasonable time period or at all; risks of not being unable to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls; our limited operating history as a public company; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest between us and our controlling stockholders and different interests of controlling stockholders; and potential conflicts of interest between us and our directors and executive officers.

    Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

    Investor Contact:

    investors@fundamentalglobal.com

    FUNDAMENTAL GLOBAL INC.
    Consolidated Balance Sheets
    ($ in thousands)

        December 31, 2024     December 31, 2023  
                 
    ASSETS                
    Cash and cash equivalents   $ 7,794     $ 5,995  
    Accounts receivable, net     3,384       3,529  
    Inventories, net     1,432       1,482  
    Equity holdings, at fair value     5,763       10,552  
    Other equity holdings and other holdings     54,310       17,469  
    Property, plant and equipment, net     2,781       11,115  
    Operating lease right-of-use assets     201       371  
    Finance lease right-of-use assets     1,105       1,258  
    Assets of discontinued operations     31,626       9,886  
    Other assets     1,073       486  
    Total assets   $ 109,469     $ 62,143  
                     
    LIABILITIES                
    Accounts payable and accrued expenses   $ 5,704     $ 4,834  
    Deferred revenue and customer deposits     857       867  
    Operating lease liabilities     236       421  
    Finance lease liabilities     1,136       1,283  
    Short-term debt     2,068       2,294  
    Long-term debt, net of debt issuance costs     301       5,461  
    Deferred income taxes     2,412       3,075  
    Liabilities of discontinued operations     22,436       6,799  
    Other liabilities     122       102  
    Total liabilities     35,272       25,136  
                     
    Commitments and contingencies            
                     
    SHAREHOLDERS’ EQUITY                
    Series A Preferred Shares     22,365        
    Common stock     29       225  
    Additional paid-in capital     50,924       55,856  
    Retained earnings     (229 )     2,336  
    Treasury stock           (18,586 )
    Accumulated other comprehensive income (loss)     1,108       (4,682 )
    Total Fundamental Global stockholders’ equity     74,197       35,149  
    Equity attributable to non-controlling interest           1,858  
    Total stockholders’ equity     74,197       37,007  
    Total liabilities and stockholders’ equity   $ 109,469     $ 62,143  


    FUNDAMENTAL GLOBAL INC.

    Consolidated Statements of Operations
    ($ in thousands, except per share data)

        Three Months Ended December 31,     Year Ended December 31,  
        2024     2023     2024     2023  
    Revenue:                        
    Net (loss) earnings on equity holdings and other holdings   $ (4,628 )   $ 440     $ (14,675 )   $ (9,437 )
    Net product sales     3,463       2,783       18,561       13,978  
    Net services revenue     3,696       3,314       13,462       12,552  
    Total revenue     2,531       6,537       17,348       17,093  
                                     
    Expenses:                                
    Costs of products     3,067       2,619       15,530       12,583  
    Costs of services     2,791       2,263       9,963       8,893  
    Selling expense     305       197       1,277       797  
    General and administrative expenses     2,348       2,757       13,979       11,111  
    Loss (gain) on impairment and disposal of assets                 1,475       (5 )
    Total expenses     8,511       7,836       42,224       33,379  
    Loss from operations     (5,980 )     (1,299 )     (24,876 )     (16,286 )
    Other income (expense):                                
    Interest expense, net     (60 )     (237 )     (360 )     (520 )
    Foreign currency transaction income (loss)     20       2       (7 )     (1 )
    Bargain purchase on acquisition and other (expense) income, net     472       3,469       2,245       3,502  
    Total other income, net     432       3,234       1,878       2,981  
    Loss from continuing operations before income taxes     (5,548 )     1,935       (22,998 )     (13,305 )
    Income tax benefit     29       685       139       998  
    Net (loss) income from continuing operations     (5,519 )     2,620       (22,859 )     (12,307 )
    Net (loss) income from discontinued operations     (1,913 )     (4,556 )     21,544       (2,334 )
    Net (loss) income     (7,432 )     (1,936 )     (1,315 )     (14,641 )
    Net loss attributable to non-controlling interest           (442 )     (160 )     (564 )
    Dividends declared on Series A Preferred Shares     (447 )           (1,410 )      
    Net loss attributable to common shareholders   $ (7,879 )   $ (1,494 )   $ (2,565 )   $ (14,077 )
                                     
    Basic and diluted net (loss) income per common share:                                
    Continuing operations   $ (4.72 )   $ 7.27     $ (22.83 )   $ (29.38 )
    Discontinued operations     (1.50 )     (10.82 )     20.41       (5.84 )
    Total   $ (6.23 )   $ (3.55 )   $ (2.43 )   $ (35.22 )
                                     
    Weighted average common shares outstanding:                                
    Basic and diluted     1,265       421       1,056       400  


    FUNDAMENTAL GLOBAL INC.

    Consolidated Statements of Cash Flows
    (in thousands)

        Year Ended December 31,  
        2024     2023  
    Cash flows from operating activities:                
    Net loss from continuing operations   $ (22,859 )   $ (12,307 )
    Adjustments to reconcile net loss to net cash (used in) provided by operating activities:                
    Net unrealized holding loss on equity holdings     5,039       6,176  
    Loss from equity method holdings     10,713       3,261  
    Adjustment to gain acquisition of ICS assets     69        
    Net realized gain on sale of equity holdings     (306 )     (1 )
    Provision for doubtful accounts     68       7  
    Provision for (benefit from) obsolete inventory     1       (34 )
    Provision for warranty           2  
    Depreciation and amortization     829       841  
    Amortization and accretion of operating leases     262       138  
    Impairment of property and equipment     1,422        
    Gain on merger of FGF and FGH     (2,321 )      
    Deferred income taxes     (469 )     (933 )
    Stock compensation expense     1,619       1,605  
    Changes in operating assets and liabilities:                
    Other assets     1,109       378  
    Accounts receivable     178       1,831  
    Inventories     (19 )     393  
    Current income taxes     (46 )     345  
    Accounts payable and accrued expenses     952       817  
    Deferred revenue and customer deposits     (66 )     (789 )
    Operating lease obligations     (224 )     (151 )
    Net cash (used in) provided by operating activities from continuing operations     (4,049 )     1,579  
    Net cash used in operating activities from discontinued operations     (665 )     (1,423 )
    Net cash (used in) provided by operating activities     (4,714 )     156  
                     
    Cash flows from investing activities:                
    Capital expenditures     (46 )     (164 )
    Proceeds from sales of equity securities     5,021       198  
    Proceeds from sales of property and equipment     6,161        
    Collection of note receivable     203        
    Cash acquired in acquisition of ICS           58  
    Cash acquired in Merger of FGF and FGH     1,903        
    Net cash provided by investing activities from continuing operations     13,242       92  
    Net cash used in investing activities from discontinued operations     (94 )     (787 )
    Net cash provided by (used in) investing activities     13,148       (695 )
                     
    Cash flows from financing activities:                
    Payment of dividends on preferred shares     (1,411 )      
    Principal payments on short-term debt     (603 )     (653 )
    Payment payments on long-term debt     (5,192 )     (224 )
    Net borrowing under credit facility     97        
    Proceeds from Strong Global Entertainment initial public offering           2,411  
    Payments of withholding taxes for net share settlement of equity awards     (21 )     (135 )
    Payments on finance lease obligations     (253 )     (159 )
    Net cash (used in) provided by financing activities from continuing operations     (7,383 )     1,240  
    Net cash provided by financing activities from discontinued operations     525       2,143  
    Net cash (used in) provided by financing activities     (6,858 )     3,383  
                     
    Effect of exchange rate changes on cash and cash equivalents from continuing operations     (11 )     21  
    Effect of exchange rate changes on cash and cash equivalents from discontinued operations     (36 )     95  
    Net increase in cash and cash equivalents from continuing operations     1,799       2,932  
    Net (decrease) increase in cash and cash equivalents from discontinued operations     (270 )     28  
    Net increase in cash and cash equivalents     1,529       2,960  
                     
    Cash and cash equivalents from continuing operations at beginning of year     5,995       3,063  
    Cash and cash equivalents from continuing operations at end of year   $ 7,794     $ 5,995  

    The MIL Network

  • MIL-OSI: Safe Harbor Financial Reports Fourth Quarter and Year-End 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    — Adjusted EBITDA(1)is positive for each of the last 3 years; Adjusted Working Capital(2)is approximately positive $2 million

    — Loan Interest Income increased 82% and 123% year-over-year for the three months and full-year ended December 31, 2024, respectively

    — Revenue for the Q4 2024 increased 5% compared to the Q3 2024, led by a 35% sequential increase in loan interest income

    — Loan Loss Reserve of approximately $1.4 million reserved as a result of a modified Commercial Alliance Agreement (CAA) with Partner Colorado Credit Union (PCCU)

    — Modifications of PCCU Commercial Alliance Agreement and Note enable new CEO Terry Mendez to implement growth strategy offering broader solutions for clients

    GOLDEN, Colo., April 01, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced today its unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 Financial and Operational Summary

      Revenue was approximately $3.7 million, compared to approximately $4.5 million for the fourth quarter of 2023 and $3.5 million for the third quarter of 2024.
      Loan Interest Income increased 82% to approximately $1.8 million from approximately $1.0 million the fourth quarter of 2023.
      Compensation and Employee Benefits expense of approximately $1.4 million declined 32% compared to approximately $2.1 million in 2023.
      General and Administrative Expense of approximately $1.1 million declined 36% from $1.7 million in 2023.
      Adjusted EBITDA(1) was positive at $63,581, compared to $1.3 million in the fourth quarter of 2023(1).
      On October 29, 2024, the Company announced it originated a $1.07 million secured credit facility for a Missouri cannabis operator.
      On December 4, 2024, Safe Harbor, Collective Clean Energy Fund and Partner Colorado announced they are collaborating to fund a $500,000 sustainable upgrade loan for a Denver cannabis facility.
         

    Full-Year 2024 Financial & Operational Summary

      Revenue was approximately $15.2 million, compared to approximately $17.6 million for the full year of 2023.
      Loan Interest Income increased 123% to approximately $6.6 million for the full year of 2024 from approximately $3.0 million for the full year of 2023.
      Operating Expenses decreased to approximately $22.3 million, compared to approximately $38.3 million in 2023.
      Adjusted EBITDA(1) was approximately $2.9 million, compared to approximately $3.6 million for the full year of 2023(1).
      Adjusted Working Capital(2) was approximately $2 million at December 31, 2024
         

    (1) Adjusted EBITDA is a non-GAAP financial metric. A reconciliation of non-GAAP to GAAP measures is included below in this earnings release.
    (2) Adjusted Working Capital is a non-GAAP financial metric. A reconciliation of non-GAAP to GAAP measures is included below in this earnings release.

    Subsequent Operational Highlights

      On December 31, 2024, the Company and PCCU entered into an Amended Commercial Alliance Agreement (the “Amended CAA”), extending the term through December 31, 2028, with automatic two-year renewal periods unless a party provides written notice of non-renewal at least 12 months before the current term expires. In addition, the Amended CAA eliminates the Company’s indemnification obligations for any losses related to any loans it facilitated under the Original Commercial Alliance Agreement or will facilitate in the future.
      On January 16, 2025, the Company announced it had processed over $25 Billion in cannabis-related funds.
      On January 29, 2025, Safe Harbor announced that Terry Mendez joined as Co-CEO, and he became CEO on February 28, 2025, upon the retirement of former CEO Sundie Seefried.
      On February 12, 2025, the Company announced it had originated a $1,500,000 secured credit facility for a Missouri cannabis operator.
      On March 4, 2025, Safe Harbor announced it successfully modified its debt obligation with Partner Colorado Credit Union (the “Amended PCCU Note”), unlocking $6.4 million in cash flow over the next two years.
      On March 20, 2025, the Company announced Mike Regan has joined as Head of Investor Relations and Data Science.
         

    “Throughout 2024, the lending arm of Safe Harbor was a driving force for the Company as our loan interest income was up 82% for the fourth quarter and 123% for the year,” said Terry Mendez, Chief Executive Officer of Safe Harbor Financial. “We continue to be an innovator in this sector as we instituted a new small business line of credit program while also originating several debt and credit facilities at market-competitive terms for numerous clients across the U.S. We were able to do this while remaining diligent in lower overall expenses. While fourth quarter 2024 operating expenses increased 86% compared to the fourth quarter of 2023, operating expenses declined 42% for the full year 2024. Operating expenses adjusted for material non-cash items declined approximately 15% year-over year in the fourth quarter 2024 and 24% for the full-year of 2024.”

    Mendez continued, “Subsequent to the quarter end, the Company surpassed $25 billion in processed cannabis-related funds through our trusted network of partner banks. This is a significant milestone that we achieved on our 10th anniversary and is another proven point that Safe Harbor continues to be a leader in offering compliant banking services to cannabis related businesses. We also originated a $1.5 million secured credit facility with a cannabis operator out of Missouri, further cementing our position as a trusted financial partner to cannabis businesses.

    “Finally, in a redefining transaction for the Company, we successfully modified our debt obligation with Partner Colorado Credit Union. This modification greatly improves our financial stability as we are able to unlock over $6 million in cashflow over the next two years and push the term of the debt obligation out to October 2030. This updated debt deal provides Safe Harbor with the financial flexibility needed to enhance and expand our overall business services as we execute on our business strategy throughout 2025 and beyond.

    “One of the major reasons I joined Safe Harbor is the tremendous opportunity I see to build upon our strong foundation, to evolve from a single compliance solution into a provider of a broad array of services focused on addressing the needs of our clients. I believe that Safe Harbor is well positioned to offer competitive solutions designed to protect, lend, connect and enable the success of our customers and our clients,” concluded Mendez.

    Full Year 2024 Financial Results

    For the year ended December 31, 2024, total revenue was $15.2 million, compared to approximately $17.6 million in the prior year. The decrease in revenue was due to a reduction in deposit activity and onboarding income and was primarily attributable to the decrease in the number of accounts related to the Abaca acquisition, offset by a 123% year-over-year increase in loan interest income. In the full-year ended December 31, 2024, PCCU accounted for $4.6 million of the revenue generated from deposits, activities, and client onboarding. Related to this revenue, the Company recognized $452,371 in account hosting expenses.

    Full-year 2024 operating expenses decreased over 42% to $22.3 million, compared to $38.3 million in the prior year period, which was comprised of the following:

      Compensation and employee benefits expenses decreased 25% due to decrease in stock-based compensation and a lower headcount as compared to previous year. Restructuring efforts will continue as we optimize our talent portfolio.
         
      General and administrative expenses decreased 39% across various categories including: i) $988,412 in investment hosting fees as a result of the decrease in investment income, ii) $900,034 in decreased bank sharing fees due to the decrease in the number of accounts, and iii) $661,776 in decreased amortization and depreciation.
         
      For the year ended December 31, 2024, the Company fully impaired goodwill and finite-lived intangible assets. Goodwill and intangible assets are now fully written down to $0 on the balance sheet.
         
      The professional services expense increased primarily due to higher legal fees related to ongoing litigation.
         
      Credit Loss Expense benefitted from the elimination of the indemnity liability from the Balance Sheet as of December 31, 2024, due to the Amended CAA.
         

    Net loss for full year 2024 was approximately $48.3 million, compared to a net loss of approximately $17.3 million in the prior year period. This includes the impact of approximately $43.9 million non-cash valuation allowance on the deferred tax asset and $9.1 million in non-cash Goodwill and Long-Lived Intangible Asset Impairment expenses.

    As of December 31, 2024, the Company had cash and cash equivalents of $2.3 million, compared to $4.9 million at December 31, 2023.

     
    SHF Holdings, Inc.
    CONSOLIDATED BALANCE SHEETS
                 
        December 31,
    2024
    (Unaudited)
        December 31,
    2023
     
                 
    ASSETS                
    Current Assets:                
    Cash and cash equivalents   $ 2,324,647     $ 4,888,769  
    Accounts receivable – trade     134,609       121,875  
    Accounts receivable – related party     968,023       2,095,320  
    Prepaid expenses – current portion     659,536       546,437  
    Accrued interest receivable     16,319       13,780  
    Forward purchase receivable     4,584,221        
    Short-term loans receivable, net     13,332       12,391  
    Other current assets     3,000,000       82,657  
    Total Current Assets   $ 11,700,687     $ 7,761,229  
    Long-term loans receivable, net     378,854       381,463  
    Property, plant and equipment, net     3,154       84,220  
    Operating lease right to use assets     703,524       859,861  
    Goodwill           6,058,000  
    Intangible assets, net           3,721,745  
    Deferred tax asset, net           43,829,019  
    Prepaid expenses – long term position     412,500       562,500  
    Forward purchase receivable           4,584,221  
    Security deposit     19,568       18,651  
    Total Assets   $ 13,218,287     $ 67,860,909  
                     
    LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY                
    Current Liabilities:                
    Accounts payable   $ 140,723     $ 217,392  
    Accounts payable-related party     75,608       577,315  
    Accrued expenses     1,301,378       1,008,987  
    Contract liabilities     28,335       21,922  
    Lease liabilities – current     161,952       132,546  
    Senior secured promissory note – current portion     255,765       3,006,991  
    Deferred consideration – current portion     3,338,343       2,889,792  
    Forward purchase derivative liability     7,309,580        
    Other current liabilities     72,836       41,639  
    Total Current Liabilities   $ 12,684,520     $ 7,896,584  
    Warrant liabilities     1,360,491       4,164,129  
    Deferred consideration – long term portion           810,000  
    Forward purchase derivative liability           7,309,580  
    Senior secured promissory note—long term portion     10,748,408       11,004,175  
    Net deferred indemnified loan origination fees           63,275  
    Lease liabilities – long term     712,882       875,447  
    Indemnity liability           1,382,408  
    Total Liabilities   $ 25,506,301     $ 33,505,598  
    Commitment and Contingencies                
    Stockholders’ (Deficit) Equity                
                     
    Convertible preferred stock, $.0001 par value, 1,250,000 shares authorized, 111 and 1,101 shares issued and outstanding on December 31, 2024, and December 31, 2023, respectively            
    Class A Common Stock, $.0001 par value, 130,000,000 shares authorized, 2,783,667 and 2,728,169 issued and outstanding on December 31, 2024, and December 31, 2023, respectively     278       273  
    Additional paid in capital     108,467,253       105,924,859  
    Retained deficit     (120,755,545 )     (71,569,821 )
    Total Stockholders’ (Deficit) Equity   $ (12,288,014 )   $ 34,355,311  
    Total Liabilities and Stockholders’ (Deficit) Equity   $ 13,218,287     $ 67,860,909  
                     
     
    SHF Holdings, Inc.
    CONSOLIDATED STATEMENTS OF OPERATIONS
           
        For the year ended December 31,  
        2024
    (Unaudited)
        2023  
    Revenue   $ 15,242,560     $ 17,562,903  
                     
    Operating expenses                
    Compensation and employee benefits     7,783,331       10,334,212  
    General and administrative expenses     4,018,094       6,587,392  
    Professional services     2,518,394       1,858,137  
    Lease expense     258,477       315,615  
    Credit loss (benefit) expense     (1,393,131 )     290,857  
    Impairment of goodwill     6,058,000       13,208,276  
    Impairment of long-lived intangible assets     3,090,881       5,699,463  
    Total operating expenses   $ 22,334,046     $ 38,293,952  
    Operating loss     (7,091,486 )     (20,731,049 )
    Other (income) expenses                
    Interest expense     533,390       1,094,736  
    Change in fair value of warrant liabilities     (2,803,638 )     1,853,920  
    Change in the fair value of deferred consideration     (361,449 )     (4,570,157 )
    Total other (income) expenses   $ (2,631,697 )   $ (1,621,501 )
    Net loss before income tax     (4,459,789 )     (19,109,548 )
    Provision (benefit) for income taxes   $ 43,859,686     $ (1,829,701 )
    Net loss   $ (48,319,475 )   $ (17,279,847 )
    Weighted average shares outstanding, basic     2,772,867       2,128,728  
    Basic net loss per share   $ (17.43 )   $ (8.12 )
    Weighted average shares outstanding, diluted     2,772,867       2,128,728  
    Diluted net loss per share   $ (17.43 )   $ (8.12 )
                     
     
    SHF Holdings, Inc.
    Consolidated Statements of Stockholders’ (Deficit) Equity
     
    FOR THE YEARS ENDED DECEMBER 31, 2024 (UNAUDITED) AND 2023
                                   
        Preferred
    Stock
        Class A
    Common Stock
        Additional
    Paid-in
        Retained     Total
    Shareholders’
    (Deficit)
     
        Shares     Amount     Shares     Amount     Capital     (Deficit)     Equity  
    Balance, January 01, 2023     14,616     $ 1       1,186,644     $ 119     $ 44,808,286     $ (39,695,281 )   $ 5,113,125  
    Cumulative effect from adoption of CECL                                   (581,318 )     (581,318 )
    Issuance of shares to Abaca shareholders                 291,791       29       4,085,047             4,085,076  
    Conversion of PIPE Shares     (13,515 )     (1 )     628,110       63       14,013,313       (14,013,375 )      
    Restricted stock units                 61,623       6       1,252,037             1,252,043  
    Stock compensation cost                             2,459,324             2,459,324  
    PCCU Restructuring                 560,000       56       38,406,352             38,406,408  
    Reversal of deferred underwriting cost                             900,500             900,500  
    Net loss                                   (17,279,847 )     (17,279,847 )
    Balance, December 31, 2023     1,101     $       2,728,168     $ 273     $ 105,924,859     $ (71,569,821 )   $ 34,355,311  
    Issuance of equity for marketing services                 12,117       1       149,999             150,000  
    Conversion of PIPE shares     (990 )           39,600       4       866,245       (866,249 )      
    Restricted stock units                 3,781             63,784             63,784  
    Stock compensation cost                             1,462,366             1,462,366  
    Net loss                                   (48,319,475 )     (48,319,475 )
    Balance, December 31, 2024     111     $       2,783,666     $ 278     $ 108,467,253     $ (120,755,545 )   $ (12,288,014 )
                                                             
     
    SHF Holdings, Inc.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
           
        Year ended December 31,  
        2024
    (Unaudited)
        2023  
    CASH FLOWS FROM OPERATING ACTIVITIES:                
    Net loss   $ (48,319,475 )   $ (17,279,847 )
    Adjustments to reconcile net loss to net cash provided by operating activities:                
    Depreciation and amortization expense     711,929       1,373,707  
    Stock compensation expense     1,575,952       3,739,156  
    Net deferred indemnified loan origination fees     (63,275 )     (45,806 )
    Interest expense           663,208  
    Lease expense     23,181       136,097  
    Credit loss (benefit) expense     (1,393,131 )     290,857  
    Impairment of goodwill     6,058,000       13,208,276  
    Impairment of long-lived intangible assets     3,090,881       5,699,463  
    Deferred tax expense (benefit), net     43,859,686       (1,829,701 )
    Marketing expense settled via common stock     100,000        
    Change in fair value of warrant liabilities     (2,803,638 )     1,853,920  
    Change in the fair value of deferred consideration     (361,449 )     (4,570,157 )
    Changes in operating assets and liabilities:                
    Accounts receivable – trade     (12,734 )     81,183  
    Accounts receivable – related party     1,127,297       (863,593 )
    Contract assets           21,170  
    Prepaid expenses     86,901       (220,852 )
    Other current liabilities     527        
    Accrued interest receivable     (2,542 )     (6,460 )
    Deferred underwriting payable           (550,000 )
    Other current assets     (2,967,145 )     40,371  
    Accounts payable     (76,672 )     (2,515,442 )
    Accounts payable – related party     (501,709 )     386,660  
    Accrued expenses     292,396       (464,424 )
    Contract liabilities     6,413       20,926  
    Security deposit     (916 )     (856 )
    Net cash provided by (used in) operating activities   $ 430,477     $ (832,144 )
                     
    CASH FLOWS FROM INVESTING ACTIVITIES:                
    Purchase of property and equipment           (208,434 )
    Payment to Abaca Shareholder           (3,000,000 )
    Loan receivable repayment     12,394       1,027,986  
    Net cash provided by (used in) investing activities   $ 12,394     $ (2,180,448 )
                     
    CASH FLOWS FROM FINANCING ACTIVITIES:                
    Repayment of senior secured promissory note     (3,006,993 )     (488,834 )
    Net cash used in financing activities   $ (3,006,993 )   $ (488,834 )
                     
    Net decrease in cash and cash equivalents     (2,564,122 )     (3,501,426 )
    Cash and cash equivalents – beginning of period     4,888,769       8,390,195  
    Cash and cash equivalents – end of period   $ 2,324,647     $ 4,888,769  
                     
    Supplemental disclosure of cash flow information                
    Interest paid   $ 416,852     $ 450,258  
    Non-cash transactions:                
    Marketing expense settled via common stock   $ 50,000     $  
    Shares issued for the settlement of abaca acquisition           4,085,076  
    Operating lease right of use assets recognized            
    Operating lease liabilities recognized            
    Shares issued for the settlement of PCCU debt obligation           38,406,408  
    Cumulative effect from adoption of CECL           581,318  
    Reversal of deferred underwriting cost           900,500  
    Interest recognized on PCCU settlement           639,521  
                     

    Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) and Adjusted EBITDA

    To provide investors with additional information regarding our financial results, we have disclosed EBITDA and Adjusted EBITDA, both of which are non-GAAP financial measures that we calculate as net loss before taxes and depreciation and amortization expense in the case of EBITDA and further adjusted to exclude non-cash, unusual and/or infrequent costs in the case of Adjusted EBITDA. Below we have provided a reconciliation of net loss (the most directly comparable GAAP financial measure) to EBITDA and from EBITDA to Adjusted EBITDA.

    We present EBITDA and Adjusted EBITDA because these metrics are a key measure used by our management to evaluate our operating performance, generate future operating plans, and make strategic decisions regarding the allocation of investment capacity. Accordingly, we believe that EBITDA and Adjusted EBITDA provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management.

    EBITDA and Adjusted EBITDA have limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are as follows:

    ● although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and both EBITDA and Adjusted EBITDA do not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;

    ● EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, our working capital needs; and

    ● EBITDA and Adjusted EBITDA do not reflect tax payments that may represent a reduction in cash available to us.

    Because of these limitations, you should consider EBITDA and Adjusted EBITDA alongside other financial performance measures, including net loss and our other GAAP results.

    A reconciliation of net loss to non-GAAP EBITDA and Adjusted EBITDA is as follows:

        Year Ended December 31,  
        2024
    (Unaudited)
        2023  
    Net loss   $ (48,319,475 )   $ (17,279,847 )
    Interest expense     533,390       1,094,736  
    Depreciation and amortization     711,929       1,373,707  
    Provision (benefit) for income taxes     43,859,686       (1,829,701 )
    EBITDA     (3,214,470 )     (16,641,105 )
                     
    Other adjustments –                
    Credit loss (benefit) expense     (1,393,131 )     290,857  
    Change in the fair value of warrants and forward purchase derivatives     (2,803,640 )     1,853,920  
    Change in the fair value of deferred consideration     (361,449 )     (4,570,157 )
    Deferred loan origination fees and costs     (63,275 )     27,271  
    Stock based compensation     1,575,952       3,739,156  
    Goodwill and long-lived intangible assets impairment     9,148,881       18,907,739  
    Adjusted EBITDA   $ 2,888,868     $ 3,607,681  
                     

    Working Capital and Adjusted Working Capital

    While the company reported a net working capital deficit of $983,833 at the end of 2024, this figure includes several non-cash liabilities that do not affect liquidity. After adjusting for these non-cash items and considering the cost of the Amended PCCU Note the adjusted working capital calculation is as follows:

    #   Particulars   Amount  
    A   Net working capital as reported on December 31, 2024   $ (983,833 )
    B   Forward purchase contract, net     2,725,359  
    C   Third anniversary payment consideration     322,000  
    D   Fees paid in 2025 on the Amended PCCU Note     (53,742 )
        Adjusted working capital as of December 31, 2024 (A+B+C+D)   $ 2,009,784  
                 

    About Safe Harbor

    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

    Cautionary Statement Regarding Forward-Looking Statements

    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s ability to issue loans in the same or similar fashion; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that may be instituted against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Contact Information

    Mike Regan, Head of Investor Relations and Data Science
    ir@SHFinancial.org

    KCSA Strategic Communications
    Ellen Mellody
    safeharbor@kcsa.com

    The MIL Network

  • MIL-OSI Australia: Large Crocodile captured near Lucinda boat ramp

    Source: Tasmania Police

    Issued: 31 Mar 2025

    A large estuarine crocodile has been captured in a baited trap near the Dungeness Creek boat ramp at Lucinda in north Queensland.

    Wildlife Rangers from the Department of the Environment, Tourism, Science and Innovation (DETSI) captured the animal on Friday evening.

    The 3.8 m crocodile was targeted for removal after displaying concerning behaviour around the boat ramp and interfering with crab pots. It is believed the crocodile was attracted to the boat ramp by discarded fish frames and bait.

    The removal is a reminder for people living in crocodile habitat to make sensible choices around the water and to prioritise their safety.

    People living in crocodile habitat should never discard fish frames or unused bait at boat ramps or fishing spots as crocodiles can begin to associate those locations with food.

    All crocodile sightings should be reported to DETSI in a timely manner.

    Crocodiles can be reported by using the QWildlife app, completing a crocodile sighting report on the DETSI website, or by calling 1300 130 372. The department investigates every crocodile sighting report received.

    • Expect crocodiles in ALL northern and far northern Queensland waterways even if there is no warning sign
    • Obey all warning signs – they are there to keep you safe
    • Be aware crocs also swim in the ocean and be extra cautious around water at night
    • Stay well away from croc traps – that includes when fishing and boating
    • The smaller the vessel the greater the risk, so avoid using canoes and kayaks
    • Stand back from the water’s edge when fishing and don’t wade in to retrieve a lure
    • Camp well back from the water’s edge
    • Never leave food, fish scraps or disused bait near the water, at camp sites or at boat ramps
    • Never provoke, harass or feed crocs
    • Always supervise children near the water and keep pets on a lead.

    Further information is available at: https://environment.des.qld.gov.au/wildlife/animals/living-with/crocodiles/croc-wise

    MIL OSI News

  • MIL-OSI Australia: Freshwater crocodile handed to DETSI

    Source: Tasmania Police

    Issued: 1 Apr 2025

    A small freshwater crocodile reportedly found near Mudgeeraba on the Gold Coast has been handed over to wildlife rangers by a concerned member of the public.

    The crocodile was reportedly found by a man on a suburban street on 30 March 2025 and he took it home before contacting the Department of the Environment, Tourism, Science and Innovation (DETSI).

    Wildlife rangers collected the animal on 31 March 2025 and took it to the department’s Moggill facility for assessment.

    The animal is believed to be around two months old and appears to be in good health. Following vet checks, the crocodile could be placed with a farm or zoo.

    The circumstances that led to the animal being found on the Gold Coast are being investigated.

    The animal is believed to either be an escaped pet or to have been illegally taken from the wild.

    Anyone with information is encouraged to contact DETSI on 1300 130 372. Information can be provided anonymously.

    Freshwater crocodiles are native to Queensland, but their natural habitat is in rural areas in central, western and northwest Queensland. The Gold Coast is not considered to be freshwater crocodile habitat.

    Open larger image

    A small freshwater crocodile has been handed over to wildlife rangers.

    MIL OSI News

  • MIL-OSI: Battalion Oil Corporation Announces Fourth Quarter 2024 Financial and Operating Results

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, March 31, 2025 (GLOBE NEWSWIRE) — Battalion Oil Corporation (NYSE American: BATL, “Battalion” or the “Company”) today announced financial and operating results for the fourth quarter of 2024.

    Key Highlights

    • Completed the refinancing of our term loan on favorable terms resulting in an increase in liquidity
    • Generated full-year sales volumes of 12,667 barrels of oil equivalent per day (“Boe/d”) (51% oil)
    • Continued to lower capex per well, outperforming AFE estimates
    • AGI facility online and treated 1.8 Bcf for the fourth quarter of 2024
    • Spud two additional wells in Monument Draw in December to commence 2025 six-well activity plan
    • Year-end 2024 reserves of approximately 64.9 million barrels of oil equivalent (“MMBoe”) with a standardized measure of discounted future net cash flows of approximately $447.7 million
    • Terminated the previously announced Merger Agreement with Fury

    Management Comments
    The Company concluded its 2024 six-well campaign ahead of planned timing and under budget on each pad. Final well capital remains under $950 per lateral foot. The completed pad wells are producing ahead of type curve with the newest pad averaging over 811 Boe/d across the initial 120 days online, the second pad exceeding 747 Boe/d across the initial 275 days online and the first pad exceeding 1,085 Boe/d across 404 days on production. In December 2024, the Company also commenced drilling operations in Monument Draw as part of its 2025 six-well activity plan. As of the date of this release, the Company has drilled four of these wells in Monument Draw and has commenced completion operations on the first two wells. All wells are ahead of plan and under budget. The final two wells are permitted in the Company’s West Quito asset area with additional permits and drilling pads being built in Hackberry Draw.

    During the fourth quarter 2024, the acid gas injection (“AGI”) facility treated approximately 20 MMcf/d average and returned approximately 16 MMcf/d of sweet gas to the Company for sales to its midstream partner. To date, the AGI facility has processed more than 6.9 Bcf of sour gas and allowed the Company to realize substantial savings compared to treating alternatives.

    Results of Operations
    Average daily net production and total operating revenue during the fourth quarter of 2024 were 12,750 Boe/d (55% oil) and $49.7 million, respectively, as compared to production and revenue of 12,022 Boe/d (46% oil) and $47.2 million, respectively, during the fourth quarter of 2023. The increase in revenues in the fourth quarter of 2024 as compared to the fourth quarter of 2023 is primarily attributable to an approximate 728 Boe/d increase in average daily production partially offset by a $0.22 decrease in average realized prices (excluding the impact of hedges). Excluding the impact of hedges, Battalion realized 96.9% of the average NYMEX oil price during the fourth quarter of 2024. Realized hedge gains totaled approximately less than $0.1 million during the fourth quarter of 2024.

    Lease operating and workover expense was $11.26 per Boe in the fourth quarter of 2024 versus $11.87 per Boe in the fourth quarter of 2023. The decrease in lease operating and workover expense per Boe year-over-year is primarily a result of the increase in average daily production. Gathering and other expenses were $10.45 per Boe in the fourth quarter of 2024 versus $13.31 per Boe in the fourth quarter of 2023. The decrease in gathering and other expenses per Boe is primarily related to the start-up of the AGI facility and lower treating fees associated compared to the Valkyrie (liquid redox) plant. General and administrative expenses were $6.04 per Boe in the fourth quarter of 2024 compared to $4.93 per Boe in the fourth quarter of 2023. The increase in general and administrative expense is primarily attributable to an increase in audit, legal and transaction costs associated with the terminated merger with Fury Resources. Excluding non-recurring charges, general and administrative expenses would have been $3.22 per Boe in the fourth quarter of 2024 compared to $3.78 per Boe in the fourth quarter of 2023.

    For the fourth quarter of 2024, the Company reported a net loss available to common stockholders of $30.9 million and a net loss of $1.88 per share available to common stockholders. After adjusting for selected items, the Company reported an adjusted diluted net loss available to common stockholders for the fourth quarter of 2024 of $0.7 million or an adjusted diluted net loss of $0.04 per common share (see Reconciliation for additional information). Adjusted EBITDA during the quarter ended December 31, 2024 was $18.0 million as compared to $10.0 million during the quarter ended December 31, 2023 (see Adjusted EBITDA Reconciliation table for additional information).

    Liquidity and Balance Sheet
    As of December 31, 2024, the Company had $162.1 million of indebtedness outstanding. Total liquidity on December 31, 2024, made up of cash and cash equivalents, was $19.7 million.

    On January 9, 2025, the Company incurred incremental term loans in the aggregate principal amount of $63.0 million, resulting in a net increase in liquidity of $61.3 million.

    For further discussion on our liquidity and balance sheet, as well as recent developments, refer to Management’s Discussion and Analysis and Risk Factors in the Company’s Form 10-K.

    Merger Agreement with Fury Resources
    Subsequent to several amendments to the previously disclosed Agreement and Plan of Merger, dated December 14, 2023 (as amended, the “Merger Agreement”) and upon the failure of Fury Resources, Inc. to meet the funding and closing requirements of the Merger Agreement, the Company terminated the Merger.

    Refinanced Term Loan Agreement
    On December 26, 2024, the Company entered into the Second Amended and Restated Senior Secured Credit Agreement with Fortress Credit Corp., as administrative agent, and certain other financial institutions, as lenders (the “2024 Term Loan Agreement”). Pursuant to the 2024 Term Loan Agreement, the Company entered into an initial term loan facility in the aggregate principal amount of $162.0 million, funded on December 26, 2024 and an incremental term loan facility in the aggregate principal amount of up to $63.0 million. On January 9, 2025, the Company entered into the First Amendment to the 2024 Term Loan Agreement and incurred $63.0 million of Incremental Term Loans (the “2024 Amended Term Loan Agreement”), resulting in total outstanding borrowings of $225.0 million.

    The maturity date of the 2024 Amended Term Loan Agreement is December 26, 2028.

    All obligations under the Company’s existing term loan agreement were refunded, refinanced and repaid in full by the loans under the 2024 Term Loan Agreement as the net proceeds of the 2024 Term Loan Agreement were used to repay all outstanding indebtedness under the existing term loan agreement in an aggregate amount of approximately $152.1 million, including accrued and unpaid interest, and to pay related fees and expenses related to the new credit agreement.

    The Company is required to make scheduled quarterly amortization payments in an aggregate principal amount equal to 2.50% of the aggregate principal amount of the loans outstanding commencing with the fiscal quarter ending June 30, 2025. Under the 2024 Amended Term Loan Agreement, the Company must make scheduled amortization payments in the aggregate amount of $16.9 million in 2025 and $22.5 million in 2026.

    Forward Looking Statements
    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements. Forward-looking statements include, among others, statements about anticipated production, liquidity, capital spending, drilling and completion plans, and forward guidance. Forward-looking statements may often, but not always, be identified by the use of such words such as “expects”, “believes”, “intends”, “anticipates”, “plans”, “estimates”, “projects,” “potential”, “possible”, or “probable” or statements that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov or through the Company’s website at www.battalionoil.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company’s expectations.

    About Battalion
    Battalion Oil Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States.

    Contact

    Matthew B. Steele
    Chief Executive Officer & Principal Financial Officer
    832-538-0300

     
    BATTALION OIL CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
    (In thousands, except per share amounts)
     
        Three Months Ended   Years Ended
        December 31,   December 31,
        2024      2023     2024      2023  
                             
    Operating revenues:                        
    Oil, natural gas and natural gas liquids sales:                        
    Oil   $ 43,934     $ 39,562     $ 174,607     $ 183,634  
    Natural gas     447       2,429       (2,213 )     11,057  
    Natural gas liquids     5,118       4,921       20,822       23,814  
    Total oil, natural gas and natural gas liquids sales     49,499       46,912       193,216       218,505  
    Other     154       330       677       2,257  
    Total operating revenues     49,653       47,242       193,893       220,762  
                             
    Operating expenses:                        
    Production:                        
    Lease operating     11,082       10,656       45,275       44,864  
    Workover and other     2,127       2,480       5,215       7,149  
    Taxes other than income     2,366       2,266       11,238       11,943  
    Gathering and other     12,263       14,718       54,117       63,575  
    General and administrative     7,091       5,453       18,356       19,025  
    Depletion, depreciation and accretion     14,155       12,337       52,926       56,624  
    Impairment of contract asset     18,511             18,511        
    Total operating expenses     67,595       47,910       205,638       203,180  
    (Loss) income from operations     (17,942 )     (668 )     (11,745 )     17,582  
                             
    Other income (expenses):                        
    Net (loss) gain on derivative contracts     (1,624 )     42,430       2,308       12,689  
    Interest expense and other     4,853       (9,074 )     (14,956 )     (33,319 )
    Loss on extinguishment of debt     (7,489 )           (7,489 )      
    Total other income expenses     (4,260 )     33,356       (20,137 )     (20,630 )
    (Loss) income before income taxes     (22,202 )     32,688       (31,882 )     (3,048 )
    Income tax benefit (provision)                        
    Net (loss) income   $ (22,202 )   $ 32,688     $ (31,882 )   $ (3,048 )
    Preferred dividends     (8,679 )     (5,695 )     (32,219 )     (12,047 )
    Net (loss) income available to common stockholders   $ (30,881 )   $ 26,993     $ (64,101 )   $ (15,095 )
                             
    Net (loss) income per share of common stock:                        
    Basic   $ (1.88 )   $ 1.64     $ (3.90 )   $ (0.92 )
    Diluted   $ (1.88 )   $ 1.63     $ (3.90 )   $ (0.92 )
    Weighted average common shares outstanding:                        
    Basic     16,457       16,457       16,457       16,441  
    Diluted     16,457       16,517       16,457       16,441  
     
    BATTALION OIL CORPORATION
    CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
    (In thousands, except share and per share amounts)
     
        December 31, 2024    December 31, 2023
    Current assets:            
    Cash and cash equivalents   $ 19,712     $ 57,529  
    Accounts receivable, net     26,298       23,021  
    Assets from derivative contracts     6,969       8,992  
    Restricted cash     91       90  
    Prepaids and other     982       907  
    Total current assets     54,052       90,539  
    Oil and natural gas properties (full cost method):            
    Evaluated     816,186       755,482  
    Unevaluated     49,091       58,909  
    Gross oil and natural gas properties     865,277       814,391  
    Less – accumulated depletion     (497,272 )     (445,975 )
    Net oil and natural gas properties     368,005       368,416  
    Other operating property and equipment:            
    Other operating property and equipment     4,663       4,640  
    Less – accumulated depreciation     (2,455 )     (1,817 )
    Net other operating property and equipment     2,208       2,823  
    Other noncurrent assets:            
    Assets from derivative contracts     4,052       4,877  
    Operating lease right of use assets     453       1,027  
    Other assets     2,278       17,656  
    Total assets   $ 431,048     $ 485,338  
                 
    Current liabilities:            
    Accounts payable and accrued liabilities   $ 52,682     $ 66,525  
    Liabilities from derivative contracts     12,330       17,191  
    Current portion of long-term debt     12,246       50,106  
    Operating lease liabilities     406       594  
    Total current liabilities     77,664       134,416  
    Long-term debt, net     145,535       140,276  
    Other noncurrent liabilities:            
    Liabilities from derivative contracts     6,954       16,058  
    Asset retirement obligations     19,156       17,458  
    Operating lease liabilities     84       490  
    Other           2,084  
    Commitments and contingencies            
    Temporary equity:            
    Redeemable convertible preferred stock: 138,000 shares and 98,000 shares     177,535       106,535  
    of $0.0001 par value authorized, issued and outstanding as of            
    December 31, 2024 and 2023, respectively            
    Stockholders’ equity:            
    Common stock: 100,000,000 shares of $0.0001 par value authorized;            
    16,456,563 shares issued and outstanding as of December 31, 2024            
    and 2023     2       2  
    Additional paid-in capital     288,993       321,012  
    Accumulated deficit     (284,875 )     (252,993 )
    Total stockholders’ equity     4,120       68,021  
    Total liabilities and stockholders’ equity   $ 431,048     $ 485,338  
     
    BATTALION OIL CORPORATION
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
    (In thousands)
     
        Three Months Ended   Years Ended
        December 31,   December 31,
        2024      2023     2024      2023  
    Cash flows from operating activities:                        
    Net income (loss)   $ (22,202 )   $ 32,688     $ (31,882 )   $ (3,048 )
    Adjustments to reconcile net (loss) income to net cash provided by                        
    operating activities:                        
    Depletion, depreciation and accretion     14,155       12,337       52,926       56,624  
    Impairment of contract asset     18,511             18,511        
    Stock-based compensation, net     12       161       152       (1,070 )
    Unrealized gain on derivative contracts     1,648       (45,403 )     (11,116 )     (21,934 )
    Amortization/accretion of financing related costs     1,469       1,826       6,418       7,615  
    Loss (gain) on extinguishment of debt     7,489             7,489        
    Accrued settlements on derivative contracts     1,505       (2,587 )     403       259  
    Change in fair value of embedded derivative liability     (761 )     530       (2,084 )     (2,052 )
    Other expense (income)     46       214       324       358  
    Cash flow from operations before changes in working capital     21,872       (234 )     41,141       36,752  
    Changes in working capital     (15,186 )     6,758       (5,786 )     (19,163 )
    Net cash provided by operating activities     6,686       6,524       35,355       17,589  
                             
    Cash flows from investing activities:                        
    Oil and natural gas capital expenditures     (12,847 )     (16,196 )     (64,625 )     (46,288 )
    Proceeds received from sales of oil and natural gas assets           3,740       7,015       4,929  
    Acquisition of oil and natural gas properties                 (47 )      
    Other operating property and equipment capital expenditures     (4 )     (17 )     (23 )     (153 )
    Contract asset           (3,705 )     (7,737 )     (10,308 )
    Other     (6 )     1,439       (26 )     (25 )
    Net cash used in investing activities     (12,857 )     (14,739 )     (65,443 )     (51,845 )
                             
    Cash flows from financing activities:                        
    Proceeds from borrowings     162,000             162,000        
    Repayments of borrowings     (147,726 )     (10,027 )     (200,109 )     (35,093 )
    Payment of deferred financing costs     (8,225 )           (8,400 )      
    Proceeds from issuance of preferred stock           33,182       38,781       94,607  
    Merger deposit     (10,000 )                  
    Other           (1 )           (455 )
    Net cash (used in) provided by financing activities     (3,951 )     23,154       (7,728 )     59,059  
                             
    Net (decrease) increase in cash, cash equivalents and restricted cash     (10,122 )     14,939       (37,816 )     24,803  
                             
    Cash, cash equivalents and restricted cash at beginning of period     29,925       42,680       57,619       32,816  
    Cash, cash equivalents and restricted cash at end of period   $ 19,803     $ 57,619     $ 19,803     $ 57,619  
     
    BATTALION OIL CORPORATION
    SELECTED OPERATING DATA (Unaudited)
     
        Three Months Ended
    December 31,
      Years Ended
    December 31,
        2024     2023     2024     2023  
                             
    Production volumes:                        
    Crude oil (MBbls)     643       510       2,363       2,415  
    Natural gas (MMcf)     1,861       2,102       7,814       8,718  
    Natural gas liquids (MBbls)     220       246       971       1,163  
    Total (MBoe)     1,173       1,106       4,636       5,031  
    Average daily production (Boe/d)     12,750       12,022       12,667       13,784  
                             
    Average prices:                        
    Crude oil (per Bbl)   $ 68.33     $ 77.57     $ 73.89     $ 76.04  
    Natural gas (per Mcf)     0.24       1.16       (0.28 )     1.27  
    Natural gas liquids (per Bbl)     23.26       20.00       21.44       20.48  
    Total per Boe     42.20       42.42       41.68       43.43  
                             
    Cash effect of derivative contracts:                        
    Crude oil (per Bbl)   $ (8.99 )   $ (10.43 )   $ (11.32 )   $ (7.76 )
    Natural gas (per Mcf)     3.12       1.12       2.30       1.09  
    Natural gas liquids (per Bbl)                        
    Total per Boe     0.02       (2.69 )     (1.90 )     (1.84 )
                             
    Average prices computed after cash effect of settlement of derivative contracts:                        
    Crude oil (per Bbl)   $ 59.34     $ 67.14     $ 62.57     $ 68.28  
    Natural gas (per Mcf)     3.36       2.28       2.02       2.36  
    Natural gas liquids (per Bbl)     23.26       20.00       21.44       20.48  
    Total per Boe     42.22       39.73       39.78       41.59  
                             
    Average cost per Boe:                        
    Production:                        
    Lease operating   $ 9.45     $ 9.63     $ 9.77     $ 8.92  
    Workover and other     1.81       2.24       1.12       1.42  
    Taxes other than income     2.02       2.05       2.42       2.37  
    Gathering and other     10.45       13.31       11.67       12.64  
    General and administrative, as adjusted (1)     3.21       3.63       2.72       3.39  
    Depletion     11.71       10.80       11.06       10.97  
                             
    (1) Represents general and administrative costs per Boe, adjusted for items noted in the reconciliation below:
                             
    General and administrative:                        
    General and administrative, as reported   $ 6.04     $ 4.93     $ 3.96     $ 3.78  
    Stock-based compensation:                        
    Non-cash     (0.01 )     (0.15 )     (0.03 )     0.21  
    Non-recurring (charges) credits and other:                        
    Cash     (2.82 )     (1.15 )     (1.21 )     (0.60 )
    General and administrative, as adjusted(2)   $ 3.21     $ 3.63     $ 2.72     $ 3.39  
    Total operating costs, as reported   $ 29.77     $ 32.16     $ 28.94     $ 29.13  
    Total adjusting items     (2.83 )     (1.30 )     (1.24 )     (0.39 )
    Total operating costs, as adjusted(3)   $ 26.94     $ 30.86     $ 27.70     $ 28.74  

    ________________________
    (2)   General and administrative, as adjusted, is a non-GAAP measure that excludes non-cash stock-based compensation charges relating to equity awards under our incentive stock plan, as well as other cash charges associated with non-recurring charges and other. The Company believes that it is useful to understand the effects that these charges have on general and administrative expenses and total operating costs and that exclusion of such charges is useful for comparison to prior periods.
    (3)   Represents lease operating expense, workover and other expense, taxes other than income, gathering and other expense and general and administrative costs per Boe, adjusted for items noted in the reconciliation above.

    BATTALION OIL CORPORATION
    RECONCILIATION (Unaudited)
    (In thousands, except per share amounts)
     
        Three Months Ended   Years Ended
        December 31,   December 31,
        2024      2023     2024      2023  
    As Reported:                        
    Net (loss) income available to common stockholders – diluted (1)   $ (30,881 )   $ 26,993     $ (64,101 )   $ (15,095 )
                             
    Impact of Selected Items:                        
    Unrealized loss (gain) on derivatives contracts:                        
    Crude oil   $ 96     $ (38,604 )   $ (10,371 )   $ (22,601 )
    Natural gas     1,552       (6,799 )     (745 )     667  
    Total mark-to-market non-cash charge     1,648       (45,403 )     (11,116 )     (21,934 )
    Impairment of contract asset     18,511             18,511        
    Loss (gain) on extinguishment of debt     7,489             7,489        
    Change in fair value of embedded derivative liability     (761 )     529       (2,084 )     (2,053 )
    Non-recurring charges (credits)     3,310       1,268       5,609       3,042  
    Selected items, before income taxes     30,197       (43,606 )     18,409       (20,945 )
    Income tax effect of selected items                        
    Selected items, net of tax   $ 30,197     $ (43,606 )   $ 18,409     $ (20,945 )
                             
    Net (loss) available to common stockholders, as adjusted (2)   $ (684 )   $ (16,613 )   $ (45,692 )   $ (36,040 )
                             
                             
    Diluted net (loss) income per common share, as reported   $ (1.88 )   $ 1.63     $ (3.90 )   $ (0.92 )
    Impact of selected items     1.84       (2.65 )     1.12       (1.29 )
    Diluted net (loss) per common share, excluding selected items (2)(3)   $ (0.04 )   $ (1.02 )   $ (2.78 )   $ (2.21 )
                             
                             
    Net cash provided by operating activities   $ 6,686     $ 6,524     $ 35,355     $ 17,589  
    Changes in working capital     15,186       (6,758 )     5,786       19,163  
    Cash flow from operations before changes in working capital     21,872       (234 )     41,141       36,752  
    Cash components of selected items     2,611       4,707       6,012       3,301  
    Income tax effect of selected items                        
    Cash flows from operations before changes in working capital, adjusted for selected items (1)   $ 24,483     $ 4,473     $ 47,153     $ 40,053  

    ________________________
    (1)   Amount reflects net (loss) income available to common stockholders on a diluted basis for earnings per share purposes as calculated using the two-class method of computing earnings per share which is further described in Note 15, Earnings Per Share in our Form 10-K for the year ended December 31, 2024.
    (2)   Net (loss) income per share excluding selected items and cash flows from operations before changes in working capital adjusted for selected items are non-GAAP measures presented based on management’s belief that they will enable a user of the financial information to understand the impact of these items on reported results. These financial measures are not measures of financial performance under GAAP and should not be considered as an alternative to net income, earnings per share and cash flows from operations, as defined by GAAP. These financial measures may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion’s performance.
    (3)   The impact of selected items for the three and twelve months ended December 31, 2024 were calculated based upon weighted average diluted shares of 16.5 million, due to the net (loss) available to common stockholders, excluding selected items. The impact of selected items for the three and twelve months ended December 31, 2023 were calculated based upon weighted average diluted shares of 16.5 million and 16.4 million shares, respectively, due to the net (loss) available to common stockholders, excluding selected items.

    BATTALION OIL CORPORATION
    ADJUSTED EBITDA RECONCILIATION (Unaudited)
    (In thousands)
     
        Three Months Ended
    December 31,
      Years Ended
    December 31,
        2024     2023     2024     2023  
                             
    Net income (loss), as reported   $ (22,202 )   $ 32,688     $ (31,882 )   $ (3,048 )
    Impact of adjusting items:                        
    Interest expense     6,135       8,917       29,009       36,511  
    Depletion, depreciation and accretion     14,155       12,337       52,926       56,624  
    Impairment of contract asset     18,511             18,511        
    Stock-based compensation     12       161       152       (1,070 )
    Interest income     (278 )     (525 )     (2,122 )     (1,243 )
    Loss (gain) on extinguishment of debt     7,489             7,489        
    Unrealized loss (gain) on derivatives contracts     1,648       (45,403 )     (11,116 )     (21,934 )
    Change in fair value of embedded derivative liability     (761 )     529       (2,084 )     (2,053 )
    Merger Termination Payment     (10,000 )           (10,000 )      
    Non-recurring charges (credits) and other     3,310       1,268       5,609       2,728  
    Adjusted EBITDA(1)   $ 18,019     $ 9,972     $ 56,492     $ 66,515  

    ________________________
    (1)   Adjusted EBITDA is a non-GAAP measure, which is presented based on management’s belief that it will enable a user of the financial information to understand the impact of these items on reported results. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP measures, including net (loss) income. This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion’s performance.

    BATTALION OIL CORPORATION
    ADJUSTED EBITDA RECONCILIATION (Unaudited)
    (In thousands)
     
        Three Months   Three Months   Three Months   Three Months
        Ended   Ended   Ended   Ended
        December 31,
    2024
      September 30,
    2024
      June 30,
    2024
      March 31,
    2024
                             
    Net income (loss), as reported   $ (22,202 )   $ 21,628     $ (105 )   $ (31,203 )
    Impact of adjusting items:                        
    Interest expense     6,135       6,873       7,610       8,391  
    Depletion, depreciation and accretion     14,155       12,533       13,213       13,025  
    Impairment of contract asset     18,511                    
    Stock-based compensation     12       5       36       99  
    Interest income     (278 )     (509 )     (634 )     (701 )
    Loss (gain) on extinguishment of debt     7,489                    
    Unrealized loss (gain) on derivatives contracts     1,648       (28,091 )     (4,434 )     19,761  
    Change in fair value of embedded derivative liability     (761 )     41       (436 )     (928 )
    Merger Termination Payment     (10,000 )                  
    Non-recurring charges (credits) and other     3,310       978       384       937  
    Adjusted EBITDA(1)   $ 18,019     $ 13,458     $ 15,634     $ 9,381  
                             
    Adjusted LTM EBITDA(1)   $ 56,492                    

    ________________________
    (1)   Adjusted EBITDA is a non-GAAP measure, which is presented based on management’s belief that it will enable a user of the financial information to understand the impact of these items on reported results. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP measures, including net (loss) income. This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion’s performance.

    BATTALION OIL CORPORATION
    ADJUSTED EBITDA RECONCILIATION (Unaudited)
    (In thousands)
     
        Three Months   Three Months   Three Months   Three Months
        Ended   Ended   Ended   Ended
        December 31,
    2023
      September 30,
    2023
      June 30,
    2023
      March 31,
    2023
                             
    Net income (loss), as reported   $ 32,688     $ (53,799 )   $ (4,748 )   $ 22,811  
    Impact of adjusting items:                        
    Interest expense     8,917       9,219       9,366       9,009  
    Depletion, depreciation and accretion     12,337       13,426       14,713       16,148  
    Stock-based compensation     161       (686 )     (772 )     227  
    Interest income     (525 )     (293 )     (234 )     (191 )
    Unrealized loss (gain) on derivatives contracts     (45,403 )     46,805       (2,332 )     (21,004 )
    Change in fair value of embedded derivative liability     529       (1,878 )     358       (1,062 )
    Non-recurring charges (credits) and other     1,268       831       477       152  
    Adjusted EBITDA(1)   $ 9,972     $ 13,625     $ 16,828     $ 26,090  
                             
    Adjusted LTM EBITDA(1)   $ 66,515                    

    ________________________
    (1)   Adjusted EBITDA is a non-GAAP measure, which is presented based on management’s belief that it will enable a user of the financial information to understand the impact of these items on reported results. This financial measure is not a measure of financial performance under GAAP and should not be considered as an alternative to GAAP measures, including net income (loss). This financial measure may not be comparable to similarly named non-GAAP financial measures that other companies may use and may not be useful in comparing the performance of those companies to Battalion’s performance.

    The MIL Network

  • MIL-OSI: Duos Technologies Group Reports 4th Quarter and FY 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Issues guidance following a transformative year with the Company adding two new business lines, significantly strengthening the Balance Sheet and demonstrating enhanced operational capabilities for additional services and consulting related to the fast power business.

    JACKSONVILLE, Fla., March 31, 2025 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT) a provider of machine vision and artificial intelligence that analyzes fast moving vehicles, Edge Data Centers and power solutions, reported financial results for the fourth quarter (“Q4 2024”) and full year ended December 31, 2024.

    Fourth Quarter 2024 and Recent Operational Highlights

    • Signed Asset Management Agreement (“AMA”) with New APR Energy and Fortress Investment Group value at up to $42 million to manage 850MW of Gas-Powered Turbines. This agreement includes a 5% equity stake in the parent of New APR Energy and is the largest contract in the Company’s history.
    • Secured a $5 million advance payment for future services related to the AMA providing low-cost interim working capital as the Company grows.
    • Initiated marketing campaign targeted at the Tier 3 and Tier 4 data center markets for the provision of Duos Edge AI Edge Data Centers (“EDC”s).
    • Acquired six EDCs for initial deployments to Texas Regional Schools as “anchor” locations for service provisions.
    • Installed an initial EDC site in Amarillo, Texas with contract to include primary power for the support of installation site in addition to backup power.
    • Developing a high-density Data Center Park in Pampa, Texas in cooperation with New APR Energy and the Pampa Energy Center. The project includes the deployment of two Edge Data Centers and up to 500MW of bridging and permanent power, to support growing AI hyperscalers and HPC demands.
    • Added further intellectual property with patents covering the Railcar Inspection Portal (“RIP®”) and issued potential “IP Infraction” letters to a Class 1 railroad and its technology partner.
    • Scanned almost 10 million railcar images on over 700,000 unique railcars for the full year. This metric encompasses all railcars scanned at locations across the U.S., Canada, and Mexico, representing approximately 44% of the total freight car population in North America.
    • Entering 2025, the Company estimates $50.5 million of revenue in backlog including near-term extensions.
    • Completed an At-The-Market (“ATM”) capital raise for approximately $7.5 million with an average price of greater than $5.00 per share and low issuance costs.

    Fourth Quarter 2024 Financial Results
    It should be noted that the following Financial Results represent the consolidation of the Company with its subsidiaries Duos Technologies, Duos Edge AI, Inc., and Duos Energy Corporation.

    Total revenue for Q4 2024 decreased 4% to $1.46 million compared to $1.53 million in the fourth quarter of 2023 (“Q4 2023”). Total revenue for Q4 2024 includes approximately $1.43 million in recurring services and consulting revenue, an increase of 9% over the same period. The increase in recurring services and consulting revenues was driven by new revenue from power consulting work, which was not present in the comparative period.

    Cost of revenues for Q4 2024 increased 47% to $1.79 million compared to $1.22 million for Q4 2023. The increase in costs year-over-year stems from $548,121 in amortization expenses recorded in Q4 2024 to offset site revenue related to a nonmonetary transaction for the new services and data agreement signed during the second quarter of 2024. The Company also generated $415,580 in services and consulting revenue from power consulting work, which was provided at cost, further increasing the cost of revenue for services and consulting, which was also not present in the corresponding period of Q4, 2023.

    Gross margin for Q4 2024 decreased 209% to negative $330,000 compared to $303,000 for Q4 2023. The decline in margin during the quarter was a direct result of lower business activity timing in the technology systems area of the business as well as $415,580 in services and consulting revenue from power consulting work, which was largely provided at cost, and had a onetime dilutive effect on gross margin. These same project revenues and subsequent margin impacts were absent during Q4, 2023.

    Operating expenses for Q4 2024 decreased 21% to $2.76 million compared to $3.48 million for Q4 2023. The decrease in expenses is attributed to reductions in development and administrative costs due to the completion of certain activities and the impact of previously implemented cost reductions. The decrease in operating expenses was slightly offset by additional investments in sales resources for expansion of the commercial team in preparation of the business expansions planned for Power and Data Centers. Beginning in late Q3 2024 and throughout all of Q4 2024 the Company allocated personnel costs, typically recorded under operating expenses, to costs of revenue associated with power consulting efforts, allowing the Company to recover costs that it would not have otherwise allowing the Company to maintain certain key resources required for anticipated business growth.

    Net operating loss for Q4 2024 totaled $3.09 million compared to net operating loss of $3.18 million for Q4 2023. The decrease in net operating loss was as a result of planned reductions in operating expenses offset by anticipated lower revenues which resulted in an overall decrease in operating loss compared to the same quarter in 2023.

    Net loss for Q4 2024 totaled $3.41 million compared to a net loss of $3.16 million for Q4 2023 as a result of higher interest costs related to the acquisition of 3 Edge Data Centers.

    Cash and cash equivalents at December 31, 2024 totaled $6.27 million compared to $2.44 million at December 31, 2023. As of year-end, the Company had an additional $0.40 million in receivables, bolstering its liquidity position to approximately $6.67 million. Duos also had an additional $0.80 million of inventory as of December 31, 2024, consisting primarily of long-lead items for future RIP installations.

    Across January and February of 2025, the Company issued an aggregate of 633,683 shares of common stock at a weighted average price of $6.24 per share through its ATM offering program, generating total net proceeds of approximately $3,836,032.

    Full Year 2024 Financial Results

    Total revenue for the full year 2024, decreased 3% to $7.28 million, down from $7.47 million for 2023. Much of the decrease in overall revenues was due to ongoing customer-driven delays beyond the Company’s control related to the deployment of two high-speed transit-focused Railcar Inspection Portals (RIPs). Although the systems were largely ready in 2023, installation was delayed due to customer site preparation issues, which has prevented the Company from recognizing the next phase of revenue. However, in 2024, the Company secured an equitable adjustment as partial compensation for those delays and increased the total contract value by $1.4 million, a substantial portion of which was recognized during the year. The customer is now nearing completion of site preparation, and field installation is expected to progress in 2025 with anticipated completion in 2026. Meanwhile, the Company continued its transition toward a greater focus on AI software and support services. Services and consulting revenues increased by 31% compared to 2023, driven by the addition of new AI and subscription customers, higher service contract pricing, and $921,562 in new revenue from power consulting work, all which was not present in for the full year in 2023. Underlying recurring revenues also continued to grow as new maintenance contracts are being established on installations coming online during 2025. The Company anticipates continued growth in service revenue from both new and existing customers, supported by upcoming renewals, a growing backlog, and the next generation of technology systems currently in production and expected to be completed in 2025.

    Cost of revenues for the full year 2024, increased 11% to $6.81 million, up from $6.16 million in the same period of 2023. The increase in cost of revenues was driven by $1,569,311 in amortization expenses recorded in 2024 to offset site revenue related to a non-monetary transaction for the new services and data agreement signed during the second quarter of 2024. The Company also generated $921,562 in services and consulting revenue from power consulting work, which although was provided at cost, was partially performed by existing Duos staff. Part of the work was the retention of outside consultants further increasing the cost of revenue for services and consulting, which was also not present in the corresponding period of 2023, but prepared the Company for the signing of the Asset Management Agreement and expected significant revenue increases in 2025 and beyond. The Company continues to put into service additional artificial intelligence algorithms and maintenance and support services which are high margin and represent only marginal increases in the requisite costs to deliver these services. Cost of revenues on technology systems decreased during the period compared to the equivalent period in 2023 in line with the decline in project revenues. The decline in costs generally follows the same year-over-year trend as project revenues due to timing differences in major project work. This is primarily related to the procurement and manufacturing of transit-focused RIPs. As we are near the end of the manufacturing cycle and begin preparations for field installation in 2025, the cost of revenues for technology systems decreases accordingly. In contrast, during the same period in 2023, the Company was still progressing through the advanced stages of procurement and manufacturing for these RIPs.

    Gross margin for the full year 2024, decreased 64% to $469,000, down from $1.31 million in the same period of 2023. As noted above, the decline in margin was primarily driven by the timing of business activity related to the two high-speed, transit-focused Railcar Inspection Portals. In 2024, activity centered on the advanced stages of procurement and manufacturing for these systems, but customer driven delays in installation deferred the recognition of higher-margin revenue. Additionally, the Company generated $921,562 in services and consulting revenue from power consulting work that was provided at cost, which further diluted overall gross margin. These power consulting revenues, and their margin impacts were not present in 2023. The gross margin for 2024 was approximately 6%, compared to 18% in 2023. This decline also reflects the fixed nature of certain departmental costs and the evolving stage of project completion. When comparing year-over-year results, the timing of manufacturing and installation milestones should be taken into consideration, as they can significantly impact the gross margin profile in any given period.

    Operating expenses for the full year 2024, decreased 10% to $11.45 million, down from $12.76 million in the same period of 2023. There was a 43% increase in sales and marketing driven by continued investment in the commercial team, including the addition of professionals with extensive experience and leadership across the rail, Edge data center, and power industries. Research and development expenses declined by 16%, primarily due to lower personnel costs allocated to R&D and reduced testing as a result of completion of certain activities for prospective technologies. General and administration costs decreased by 18%, influenced by reductions in headcount and related personnel expenses, as well as a decline in non-cash amortization charges associated with the forfeiture of approximately 781,323 share options during 2024. Further contributing to the decrease were reductions in consulting and legal expenses compared to 2023.

    Net operating loss for the years ended, December 31, 2024 and 2023 were $10,983,526 and $11,446,566, respectively. The decrease in losses from operations during the year was the result of planned decreases in operating expenses, which offset the impact of lower revenues recorded in the period as a consequence of delays in going to field for the two high-speed RIPs for a passenger transit client, and the short term lower gross margins from the impact of the initial power industry consulting.

    Net loss for the years ended December 31, 2024 and 2023 was $10,764,457 and $11,241,718, respectively. The decrease in overall net loss was primarily attributable to a decrease in operating costs. Net loss per common share was $1.39 and $1.56 for the years ended December 31, 2024, and 2023, respectively, an improvement of $0.17 per share (basic). 

    Financial Outlook
    At the end of 2024, the Company’s contracts in backlog represented approximately $50.5 million in revenue, of which approximately $22.6 million is expected to be recognized in calendar 2025 not including an estimated $8.0 – $9.0 million in expected near-term awards and renewals. The remaining contract backlog consists of multi-year service and software agreements, along with project revenues extending through fiscal 2025, related to Duos Technologies, Duos Edge AI, and Duos Energy.

    Based on these committed contracts and near-term pending orders that are already performing or scheduled to be executed throughout the course of 2025, the Company is in a position to reinstate revenue expectations for the fiscal year ending December 31, 2025. The Company expects total revenue for 2025 to range between $28 million and $30 million, representing an increase of 285% to 312% from 2024. Duos expects this improvement in operating results to be reflected over the course of the full year in 2025.

    Management Commentary

    “Over the past several months, we have made significant progress across all three of our business lines—rail, edge computing, and power—while also expanding our investor base and analyst coverage,” said Duos Chief Executive Officer Chuck Ferry. “Our Railcar Inspection Portal continues to gain traction, with growing interest from both rail operators and government agencies, despite the industry’s slow adoption cycle. Meanwhile, Duos Edge AI is scaling quickly, with strong demand for our Edge Data Centers, particularly in underserved rural areas. We remain on track to deploy 15 pods by the end of 2025 and are actively exploring opportunities to accelerate that growth. At the same time, Duos Energy is capitalizing on unprecedented demand for behind-the-meter power solutions, securing contracts for 390MW in just the first three months of operation, with additional deals in negotiation. The synergies between our power and edge computing businesses have exceeded expectations, opening doors to new opportunities across both sectors. With strong execution and a diversified portfolio, we are well-positioned for continued growth and profitability in 2025 and beyond.”

    Conference Call
    The Company’s management will host a conference call today, March 31, 2025, at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results, followed by a question-and-answer period.

    Date:  Monday, March 31, 2025
    Time:  4:30 p.m. Eastern time (1:30 p.m. Pacific time)
    U.S. dial-in:  877-407-3088
    International dial-in: 201-389-0927
    Confirmation:  13751912
       

    Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization.

    If you have any difficulty connecting with the conference call, please contact DUOT@duostech.com.

    The conference call will be broadcast live via telephone and available for online replay via the investor section of the Company’s website here.

    About Duos Technologies Group, Inc.
    Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com, www.duosedge.ai and www.duosenergycorp.com.

    Forward- Looking Statements

    This news release includes forward-looking statements regarding the Company’s financial results and estimates and business prospects that involve substantial risks and uncertainties that could cause actual results to differ materially. Forward-looking statements relate to future events and typically address the Company’s expected future business and financial performance. The forward-looking statements in this news release relate to, among other things, information regarding anticipated timing for the installation, development and delivery dates of our systems; anticipated entry into additional contracts; anticipated effects of macro-economic factors (including effects relating to supply chain disruptions and inflation); timing with respect to revenue recognition; trends in the rate at which our costs increase relative to increases in our revenue; anticipated reductions in costs due to changes in the Company’s organizational structure; potential increases in revenue, including increases in recurring revenue; potential changes in gross margin (including the timing thereof); statements regarding our backlog and potential revenues deriving therefrom; and statements about future profitability and potential growth of the Company. Words such as “believe,” “expect,” “anticipate,” “should,” “plan,” “aim,” “will,” “may,” “should,” “could,” “intend,” “estimate,” “project,” “forecast,” “target,” “potential” and other words and terms of similar meaning, typically identify such forward-looking statements. Forward-looking statements involve risks and uncertainties and there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the Company’s ability to continue as a going concern, the Company’s ability to generate sufficient cash to continue and expand operations, the competitive environment generally and in the Company’s specific market areas, changes in technology, the availability of and the terms of financing, changes in costs and availability of goods and services, economic conditions in general and in the Company’s specific market areas, changes in federal, state and/or local government laws and regulations potentially affecting the use of the Company’s technology, changes in operating strategy or development plans and the ability to attract and retain qualified personnel. The Company cautions that the foregoing list of risks, uncertainties and factors is not exclusive. Additional information concerning these and other risk factors is contained in the Company’s most recently filed Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other filings filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, http://www.sec.gov. The Company believes its plans, intentions and expectations reflected in or suggested by these forward-looking statements are based on reasonable assumptions. No assurance, however, can be given that the Company will achieve or realize these plans, intentions or expectations. Indeed, it is likely that some of the Company’s assumptions may prove to be incorrect. The Company’s actual results and financial position may vary from those projected or implied in the forward-looking statements and the variances may be material. Each forward-looking statement speaks only as of the date of the particular statement. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All subsequent written and oral forward-looking statements concerning the Company or other matters attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

    DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
           
           
      For the Years Ended
      December 31,
      2024   2023
           
    REVENUES:      
    Technology systems $ 2,252,357     $ 3,618,022  
    Services and consulting   5,028,528       3,853,176  
           
    Total Revenues   7,280,885       7,471,198  
           
    COST OF REVENUES:      
    Technology systems   2,818,078       4,352,247  
    Services and consulting   3,993,592       1,810,070  
           
    Total Cost of Revenues   6,811,670       6,162,317  
           
    GROSS MARGIN   469,215       1,308,881  
           
    OPERATING EXPENSES:      
    Sales and marketing   2,138,431       1,493,309  
    Research and development   1,531,390       1,812,951  
    General and administration   7,782,920       9,449,187  
           
    Total Operating Expenses   11,452,741       12,755,447  
           
    LOSS FROM OPERATIONS   (10,983,526 )     (11,446,566 )
           
    OTHER INCOME (EXPENSES):      
    Interest expense   (286,114 )     (7,159 )
    Change in fair value of warrant liabilities   245,980       0  
    Gain on extinguishment of warrant liabilities   379,626       0  
    Other income, net   (120,423 )     212,007  
           
    Total Other Income (Expenses), net   219,069       204,848  
           
    NET LOSS $ (10,764,457 )   $ (11,241,718 )
           
           
    Basic and Diluted Net Loss Per Share $ (1.39 )   $ (1.56 )
           
           
    Weighted Average Shares-Basic and Diluted   7,736,281       7,204,177  
           
    DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
         
             
        December 31,   December 31,
        2024   2023
             
    ASSETS      
    CURRENT ASSETS:      
      Cash $ 6,266,296     $ 2,441,842  
      Accounts receivable, net   403,441       1,462,463  
      Contract assets   635,774       641,947  
      Inventory   605,356       1,526,165  
      Prepaid expenses and other current assets   176,338       184,478  
      Note Receivable, net          
             
      Total Current Assets   8,087,205       6,256,895  
             
      Inventory – non current   196,315        
      Property and equipment, net   2,771,779       726,507  
      Operating lease right of use asset – Office Lease   4,028,397       4,373,155  
      Financing lease right of use asset – Edge Data Centers   2,019,180        
      Security deposit   500,000       550,000  
             
    OTHER ASSETS:      
      Equity Investment – Sawgrass APR Holdings LLC   7,233,000        
      Intangible Asset, net   9,592,118        
      Note Receivable, net         153,750  
      Patents and trademarks, net   127,300       129,140  
      Software development costs, net   403,383       652,838  
      Total Other Assets   17,355,800       935,728  
             
    TOTAL ASSETS $ 34,958,677     $ 12,842,285  
             
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
             
    CURRENT LIABILITIES:      
      Accounts payable $ 969,822     $ 595,634  
      Notes payable – financing agreements   17,072       41,976  
      Accrued expenses   373,251       164,113  
      Operating lease obligations – Office Lease -current portion   798,556       779,087  
      Financing lease obligation – Edge Data Centers – current portion   367,451        
      Notes payable, net of discount – related parties   1,758,396        
      Contract liabilities, current   11,805,018       1,666,243  
             
      Total Current Liabilities   16,089,566       3,247,053  
             
      Contract liabilities, less current portion   11,016,134        
      Operating lease obligations – Office Lease, less current portion   3,867,042       4,228,718  
      Financing lease obligation – Edge Data Centers, less current portion   1,724,604        
             
      Total Liabilities   32,697,346       7,475,771  
             
    Commitments and Contingencies (Note 12)      
             
    STOCKHOLDERS’ EQUITY:      
      Preferred stock: $0.001 par value, 10,000,000 authorized, 9,441,000 shares available to be designated    
      Series A redeemable convertible preferred stock, $10 stated value per share,          
      500,000 shares designated; 0 and 0 issued and outstanding at December 31, 2024 and December 31, 2023, respectively,
      convertible into common stock at $6.30 per share      
      Series B convertible preferred stock, $1,000 stated value per share,          
      15,000 shares designated; 0 and 0 issued and outstanding at December 31, 2024    
      and December 31, 2023, respectively, convertible into common stock at $7 per share    
      Series C convertible preferred stock, $1,000 stated value per share,          
      5,000 shares designated; 0 and 0 issued      
      and outstanding at December 31, 2024 and December 31, 2023, respectively,      
      convertible into common stock at $5.50 per share      
      Series D convertible preferred stock, $1,000 stated value per share,   1       1  
      4,000 shares designated; 1,299 and 1,299 issued      
      and outstanding at December 31, 2024 and December 31, 2023, respectively,      
      convertible into common stock at $3.00 per share      
      Series E convertible preferred stock, $1,000 stated value per share,      
      30,000 shares designated; 13,500 and 11,500 issued      
      and outstanding at December 31, 2024 and December 31, 2023, respectively,   14       12  
      convertible into common stock at $2.61 and $3.00 per share, respectively,      
      Series F convertible preferred stock, $1,000 stated value per share,      
      5,000 shares designated; 0 and 0 issued      
      and outstanding at December 31, 2024 and December 31, 2023, respectively,          
      convertible into common stock at $6.20 per share      
             
      Common stock: $0.001 par value; 500,000,000 shares authorized,      
      8,922,576 and 7,306,663 shares issued, 8,921,252 and 7,305,339   8,921       7,306  
      shares outstanding at December 31, 2024 and December 31, 2023, respectively    
      Additional paid-in-capital   76,777,856       69,120,199  
      Accumulated deficit   (74,368,009 )     (63,603,552 )
      Sub-total   2,418,783       5,523,966  
      Less: Treasury stock (1,324 shares of common stock      
      at December 31, 2024 and December 31, 2023)   (157,452 )     (157,452 )
    Total Stockholders’ Equity   2,261,331       5,366,514  
             
    Total Liabilities and Stockholders’ Equity $ 34,958,677     $ 12,842,285  
             
    DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES
     CONSOLIDATED STATEMENTS OF CASH FLOWS
     
      For the Years Ended
      December 31,
       2024     2023 
           
    Cash from operating activities:      
    Net loss $ (10,764,457 )   $ (11,241,718 )
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Depreciation and amortization   2,161,722       550,201  
    Stock based compensation   108,981       710,047  
    Stock issued for services   165,000       143,065  
    Amortization of debt discount related to warrant liabilities   184,002        
    Fair value of warrant liabilities   (245,980 )      
    Gain on settlement of warrant liabilities   (379,626 )      
    Amortization of operating lease right of use asset – Office Lease   344,757       316,776  
    Amortization of lease right of use asset – Edge Data Centers   50,820        
    Provision for credit losses, accounts receivable   76,037        
    Provision for credit losses, note receivable   161,250        
    Write off of inventory   126,703        
    Changes in assets and liabilities:      
       Accounts receivable   982,985       1,955,800  
       Note receivable   (7,500 )     (153,750 )
       Contract assets   6,173       (216,225 )
       Inventory   52,700       (97,804 )
       Security deposit   50,000       50,000  
       Prepaid expenses and other current assets   414,091       744,771  
       Accounts payable   374,188       (1,694,756 )
       Accrued expenses   209,138       (289,209 )
       Operating lease obligation – Office Lease   (342,206 )     (232,007 )
       Lease obligation – Edge Data Centers   22,055        
       Contract liabilities   2,760,480       708,245  
           
    Net cash used in operating activities   (3,488,687 )     (8,746,564 )
           
    Cash flows from investing activities:      
        Purchase of patents/trademarks   (9,535 )     (69,327 )
        Purchase of software development         (527,896 )
        Purchase of fixed assets   (1,831,763 )     (496,686 )
           
    Net cash used in investing activities   (1,841,298 )     (1,093,909 )
           
    Cash flows from financing activities:      
       Repayments on financing agreements   (430,855 )     (520,529 )
       Repayment of finance lease         (22,851 )
       Proceeds from notes payable, related parties   2,200,000        
       Proceeds from warrant exercises   899,521        
       Proceeds from common stock issued   3,544,689        
       Stock issuance cost   (220,183 )     (25,797 )
       Proceeds from shares issued under Employee Stock Purchase Plan   166,265       230,400  
       Proceeds from preferred stock issued   2,995,002       11,500,000  
           
    Net cash provided by financing activities   9,154,439       11,161,223  
           
    Net increase in cash   3,824,454       1,320,750  
    Cash, beginning of year   2,441,842       1,121,092  
    Cash, end of year $ 6,266,296     $ 2,441,842  
           
    Supplemental Disclosure of Cash Flow Information:      
    Interest paid $ 3,865     $ 7,159  
    Taxes paid $ 20,126     $ 29,085  
           
    Supplemental Non-Cash Investing and Financing Activities:      
    Debt discount for warrant liability $ 625,606     $  
    Notes issued for financing of insurance premiums $ 434,883     $ 487,929  
    Transfer of inventory to fixed assets $ 545,091     $  
    Intangible asset acquired with contract liability $ 11,161,428     $  
    Equity Investment – Sawgrass APR Holdings LLC $ 7,233,000     $  
    Right of use asset and liability for Edge Data Centers $ 2,070,000     $  
           

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c2f0eb27-5f9e-4015-9a56-d69465f6e1fd

    This press release was published by a CLEAR® Verified individual.

    The MIL Network

  • MIL-OSI: AleAnna, Inc. Reports Fiscal Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    A Series of Milestones, Including Public Listing, Were Achieved in 2024; Longanesi First Gas Production Has Been Achieved

    Fiscal Year 2024 and Recent Company Highlights:

    • Gas production at Longanesi has commenced as of March 13, 2025
    • Between March 2024 and July 2024, AleAnna successfully completed three separate strategic acquisitions of renewable natural gas (“RNG”) plant projects in Italy for aggregate consideration of approximately $9.7 million, which generated $1.4 million in electricity production revenue in 2024
    • On December 13, 2024, AleAnna completed its de-SPAC transaction and became publicly traded on Nasdaq under the ticker symbol “ANNA”
    • AleAnna ended fiscal year 2024 with approximately $28.3 million in cash and cash equivalents

    DALLAS, March 31, 2025 (GLOBE NEWSWIRE) — AleAnna, Inc. (“AleAnna” or the “Company”) (NASDAQ: ANNA) today reported results for fiscal year 2024. Fiscal year 2024 was a transformative year for the Company, highlighted by the successful completion of our de-SPAC public listing transaction. AleAnna also launched its RNG asset acquisition program to expand the Company’s renewable energy portfolio. At year-end, AleAnna had $28.3 million in cash and cash equivalents, providing a solid foundation to advance its strategic initiatives.

    More recently, in March 2025, AleAnna and its operating partner Padana reached a major milestone with the commencement of production at the Longanesi field, marking a significant step forward for the Company.

    Management Commentary

    Marco Brun, Chief Executive Officer, reflected on AleAnna’s milestone year and recent achievements: “2024 was a pivotal year for AleAnna as we successfully completed our de-SPAC transaction and became a publicly traded company. We also strengthened our position in Italy’s renewable natural gas sector with strategic acquisitions and secured a long-term gas sales agreement with Shell Energy Europe.

    “As we enter 2025, we are proud to have achieved first production and sales from Longanesi, marking a major milestone in our growth strategy. We remain committed to driving sustainable energy development while delivering value to our shareholders.”

    About AleAnna

    AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and RNG to Italy, aligning traditional energy operations with renewable solutions, with developments like the Longanesi field leading the way in supporting a responsible energy transition. With three conventional gas discoveries in Italy already made and fourteen new natural gas exploration projects planned this decade, AleAnna plays a pivotal role in Italy’s energy transition. Italy’s extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major gas storage facilities, and a strong base of existing RNG facilities, aligns with AleAnna’s commitment to sustainability. AleAnna’s RNG projects’ portfolio includes three plants under development and almost 100 projects representing approximately €1.1 billion potential investment in the next few years. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.

    Forward-Looking Statements

    The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein regarding AleAnna’s future operations, financial position, plans and objectives are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” and other similar expressions are forward-looking statements. However, not all forward-looking statements contain such identifying words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on AleAnna’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of AleAnna’s control. AleAnna’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to, those under “Risk Factors” in AleAnna’s definitive proxy statement/prospectus filed by AleAnna with the SEC on November 21, 2024, as well as general economic conditions; AleAnna’s need for additional capital; risks associated with the growth of AleAnna’s business; and changes in the regulatory environment in which AleAnna operates. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

    Investor Relations Contact
    Bill Dirks
    wkdirks@aleannagroup.com

    Website
    https://www.aleannainc.com/

    ALEANNA, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

      For the Year Ended December 31,  
      2024     2023  
               
    Revenues $ 1,420,030     $  
               
    Operating expenses:          
    Cost of revenues $ 1,043,174     $  
    General and administrative   6,264,087       5,634,150  
    Depreciation   133,516        
    Accretion of asset retirement obligation   133,239       133,239  
    Business Combination transaction expenses   8,398,653        
    Total operating expenses   15,972,669       5,767,389  
               
    Operating loss   (14,552,639 )     (5,767,389 )
               
    Other income (expense):          
    Interest and other income (expense)   1,948,281       (102,041 )
    Change in fair value of derivative liability   173,177       708,869  
    Total other income (expense)   2,121,458       606,828  
    Net loss $ (12,431,181 )   $ (5,160,561 )
    Deemed dividend to Class 1 Preferred Units redemption value   (155,423,177 )     (53,219,200 )
    Net loss attributable to noncontrolling interests   87,511        
    Net loss attributable to Class A Common stockholders or holders of Common Member Units $ (167,766,847 )   $ (58,379,761 )
               
    Other comprehensive income (loss)          
    Currency translation adjustment   (1,548,154 )     218,908  
    Comprehensive loss   (13,979,335 )     (4,941,653 )
    Comprehensive loss attributable to noncontrolling interests   87,511        
    Total comprehensive loss attributable to Class A Common stockholders $ (13,891,824 )   $ (4,941,653 )
               
    Weighted average shares of Class A Common Stock outstanding, basic and diluted   38,286,170       31,643,646  
    Net loss per share of Class A Common Stock, basic and diluted $ (4.38 )   $ (1.84 )

    ALEANNA, INC.
    CONSOLIDATED BALANCE SHEETS
    AS OF DECEMBER 31, 2024 AND 2023

      December 31, 2024     December 31, 2023  
    ASSETS          
    Current Assets:          
    Cash and cash equivalents $ 28,330,159     $ 6,759,265  
    Accounts receivable   1,225,297        
    Prepaid expenses and other assets   1,666,155       27,485  
    Total Current Assets   31,221,611       6,786,750  
               
    Non-current assets:          
    Natural gas and other properties, successful efforts method   33,979,014       22,480,830  
    Renewable natural gas properties, net of accumulated depreciation of $132,094   9,296,039        
    Value-added tax refund receivable   6,845,030       4,425,353  
    Operating lease right-of-use assets   1,744,897        
    Total Non-current Assets   51,864,980       26,906,183  
    Total Assets $ 83,086,591     $ 33,692,933  
               
    LIABILITIES AND EQUITY          
    Current Liabilities:          
    Accounts payable and accrued expenses $ 2,204,208     $ 1,053,819  
    Related party payables         525,276  
    Lease liability, short-term   163,865        
    Derivative liability, at fair value         173,177  
    Total Current Liabilities   2,368,073       1,752,272  
               
    Non-current Liabilities:          
    Asset retirement obligation   4,375,919       4,242,680  
    Lease liability, long-term   1,579,443        
    Contingent consideration liability, long-term   24,994,315       26,482,682  
    Total Non-current Liabilities   30,949,677       30,725,362  
    Total Liabilities   33,317,750       32,477,634  
               
    Commitments and Contingencies (Note 6)          
               
    Temporary Equity:          
    Class 1 Preferred Units, no par value, 43,611 units authorized, issued and outstanding; liquidation preference $152,637,776 as of December 31, 2023         152,464,599  
               
    Stockholders’ and Members’ Equity:          
    Class A Common Stock, par value $0.0001 per share, 150,000,000 shares authorized, 40,560,433 shares issued and outstanding as of December 31, 2024   4,056        
    Class C Common Stock, par value $0.0001 per share, 70,000,000 shares authorized, 25,994,400 shares issued and outstanding as of December 31, 2024   2,599        
    Additional paid-in capital   226,722,424        
    Accumulated other comprehensive loss   (5,803,378 )     (4,859,933 )
    Accumulated deficit   (191,047,953 )     (146,389,367 )
    Noncontrolling interest   19,891,093        
    Total Equity (Deficit)   49,768,841       (151,249,300 )
    Total Liabilities and Equity $ 83,086,591     $ 33,692,933  
               

    The MIL Network

  • MIL-OSI: Binah Capital Group Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    – Grew Total Revenue 8% Year-over-Year to $45 Million in the Fourth Quarter 2024 –

    – Assets Under Management (“AuM”) Increased 13% Year-over-Year to $27 Billion –

    – GAAP Net Loss of $1.1 Million in the Fourth Quarter –

    – Grew Adjusted EBITDA*43% Year-Over-Year to $2.0 Million in the Fourth Quarter –

    NEW YORK, March 31, 2025 (GLOBE NEWSWIRE) — Binah Capital Group, Inc. (“Binah”, “Binah Capital” or the “Company”) (NASDAQ: BCG; BCGWW), a leading financial services enterprise that owns and operates a network of industry-leading firms empowering independent financial advisors, today announced results for the quarter and year ended December 31, 2024.

    “As we celebrate the one-year anniversary of our successful public listing, we’re pleased to deliver our 2024 fourth quarter results,” stated Craig Gould, Chief Executive Officer of Binah Capital Group. “Beyond our solid financial performance, we’ve accomplished several key milestones over the past year: closing of the business combination, forming Binah Capital Group, Inc. and listing on the NASDAQ, successful recruiting efforts, significantly reducing our cost of funding through the successful refinancing of our senior credit facility at favorable terms, and maintaining a mature and stable business despite ongoing market volatility.”

    “Looking ahead, we are off to a strong start in 2025, with a robust acquisition and recruiting pipeline. We continue to uncover many significant opportunities to onboard additional new businesses as we execute on our external growth strategy. Moreover, our hybrid-friendly business model, coupled with the favorable market for opportunities in our sector, we believe positions us well to deliver profitable, long-term growth as we work to create significant value for our shareholders.”

    ________________________________
    *Non-GAAP Financial Measures. Adjusted EBITDA is a non-GAAP financial measure defined as net income (loss) attributable to Binah adjusted for depreciation expense, amortization, interest expense, income tax and other non-cash and non-recurring items that in the judgement of management significantly impact the period-over-period assessment of performance and operating results that do not directly relate to business performance within Binah’s control. See the section captioned the “Non-GAAP Financial Measures” below for a detailed description and reconciliation of such Non-GAAP financial measures to their most directly comparable GAAP financial measures, as required by Regulation G.

    Fourth Quarter 2024 Key Highlights Compared to Prior Year Period

    • Total advisory and brokerage assets in the fourth quarter grew 13% year-over-year to $27 billion.
    • Total revenue increased 8% year-over-year to $45 million.
    • Gross profit of $8.5 million, compared to $9.0 million in the prior year period.
    • Total operating expenses were $9.6 million, compared to $7.8 million in the prior-year period. The change in operating expenses was primarily due to costs related to the re-financing of senior credit facility and public company operating expenses incurred in the fourth quarter but not incurred in the prior year.
    • GAAP net loss of $1.1 million, compared to GAAP net loss of $1.1 million in the prior year.
    • Adjusted EBITDA* grew 43% year-over-year to $2.0 million, which was primarily attributable to revenue growth, partially offset by higher expenses.

    Full Year 2024 Key Highlights Compared to 2023

    • Total revenue rose 1% year-over-year to $169 million.
    • Gross profit increased 1% year-over-year to $32 million.
    • Total operating expenses were $35 million, compared to $31 million in the prior-year. The change was primarily driven by costs related to the successful business combination, refinancing and public company related costs occurred in 2024 but were not incurred in 2023.
    • GAAP net loss of $5.3 million, compared to GAAP net income of $0.6 million in the prior year.
    • Adjusted EBITDA* of $6.3 million, compared to Adjusted EBITDA of $8.4 million in the prior year.
    • Further optimized the balance sheet through the successful refinance of its $20.0 million senior notes at more favorable terms than the prior facility.

    Liquidity and Capital

    The Company had cash and cash equivalents of $8 million and outstanding long-term debt of $25 million, as of December 31, 2024.

    _______________
    * See “Non-GAAP Financial Measures” below for additional information and a reconciliation to GAAP for all Non-GAAP metrics.

    About Binah Capital Group

    Binah Capital Group (“Binah Capital”, “Binah” or the “Company,” is a financial services enterprise that owns and operates a network of industry-leading firms that empower independent financial advisors. As a national broker-dealer aggregator, Binah specializes in delivering value through its innovative hybrid-friendly model, making it an optimal platform for RIAs navigating today’s complex financial landscape. Binah’s portfolio companies are built to help advisors run, manage, and execute commission-based business seamlessly while providing best in class resources to support their advisory practice. We don’t just offer tools—we cultivate partnerships. Binah Capital Group stands alongside RIAs as a trusted ally, delivering the structure, flexibility, and cutting-edge solutions they need to succeed in an increasingly competitive marketplace.

    For more, please visit: www.binahcap.com

    Contact:

    Binah Capital Investor Relations
    ir@binahcap.com

    Binah Capital Public Relations
    media@binahcap.com

    Non-GAAP Financial Measure

    EBITDA and Adjusted EBITDA are non-GAAP financial measures, defined as net income (loss) attributable to Binah adjusted for depreciation expense, amortization, interest expense, income tax and other non-cash and non-recurring items that in our judgement significantly impact the period-over-period assessment of performance and operating results that do not directly relate to business performance within Binah’s control. The Company presents EBITDA and Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA and Adjusted EBITDA are not a measure of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. The principal limitations of EBITDA and Adjusted EBITDA are that they exclude certain expenses that are required by U.S. GAAP to be recorded in our consolidated financial statements. In addition, EBITDA and Adjusted EBITDA are subject to inherent limitations as these metrics reflect the exercise of judgment by management about which expenses are excluded or included in determining EBITDA and Adjusted EBITDA. A reconciliation of Adjusted EBITDA to Net income attributable to Binah Capital, the most directly comparable GAAP measure, and Adjusted EBITDA to EBITDA appears below.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Binah. Forward-looking statements include, but are not limited to statements regarding: Binah’s financial and operational outlook; Binah’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Binah’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ‎‎”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

    While Binah believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: our ability to comply with supervisory and regulatory compliance obligations, the risk we may be held liable for misconduct by our advisors; poor performance of our investment products and services; our ability to effectively maintain and enhance our brand and reputation; our ability to expand and retain our customer base; our future capital requirements and sources and uses of cash; the risk that an increase in government regulation of the industries and markets in which we operate could negatively impact our business; the impact of worldwide and regional political, military or economic conditions, including declines in foreign currencies in relation to the value of the U.S. dollar, hyperinflation, devaluation and significant political or civil disturbances in international markets; and the effectiveness of Binah’s control environment, including the identification of control deficiencies.

    These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Binah with ‎the U.S. Securities and Exchange Commission from time to time, including the Annual ‎Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent ‎periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Binah cautions you not to place undue reliance on the ‎forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Binah assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Binah does not give any assurance that it will achieve its expectations.

    Binah Capital Group Consolidated Balance Sheet

     
    BINAH CAPITAL GROUP, INC.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    DECEMBER 31, 2024 AND 2023
     
    (in thousands, except share amounts)
                   
        2024   2023
    ASSETS              
    Assets:              
    Cash, cash equivalents and restricted cash   $ 8,486     $ 7,621  
    Receivables, net:              
    Commissions receivable     9,198       8,220  
    Due from clearing broker     873       631  
    Other     938       1,587  
    Property and equipment, net     599       974  
    Right of use assets     3,730       4,332  
    Intangible assets, net     1,021       1,580  
    Goodwill     39,839       39,839  
    Other assets     1,993       2,626  
                   
    TOTAL ASSETS   $ 66,677     $ 67,410  
                   
                   
    LIABILITIES AND STOCKHOLDERS’ EQUITY              
                   
    Liabilities:              
    Accounts payable, accrued expenses and other liabilities   $ 10,208     $ 9,082  
    Commissions payable     11,468       10,676  
    Operating lease liabilities     3,820       4,381  
    Notes payable, net of unamortized debt issuance costs of $739 and $645 as of December 31, 2024 and 2023, respectively     19,561       20,822  
    Promissory notes-affiliates     5,442       12,177  
    Due to members           5,169  
                   
    TOTAL LIABILITIES     50,499       62,307  
                   
    Mezzanine Equity:              
    Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,555,000 shares outstanding at December 31, 2024     14,947        
    Stockholders’ Equity and Members’ Equity:              
    Series B Convertible Preferred Stock, par value $0.0001, 500,000 shares authorized, 150,000 shares outstanding at December 31, 2024     1,500        
    Common stock, $0.0001 par value, 55,000,000 authorized, 16,602,460 issued and outstanding at December 31, 2024            
    Additional paid-in-capital     22,984        
    Accumulated deficit     (23,253 )      
    Members’ Equity attributed to Legacy BMS Management Services LLC           5,103  
    Total Stockholders’ Equity, Mezzanine Equity and Members’ Equity Attributable to BMS Management Services LLC     16,178       5,103  
                   
    TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY   $ 66,677     $ 67,410  
                     

    Binah Capital Group Consolidated Statement of Operations

     
    BINAH CAPITAL GROUP, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023
    (in thousands, except per share amounts)
                 
        2024   2023
    Revenues:            
    Revenue from Contracts with Customers:            
    Commissions   $ 139,452     $ 138,191  
    Advisory fees     24,939       21,668  
    Total Revenue from Contracts with Customers     164,391       159,859  
    Interest and other income     4,512       8,096  
                 
    Total revenues     168,903       167,955  
                 
    Expenses:            
    Commissions and fees     136,932       136,169  
    Employee compensation and benefits     15,544       13,385  
    Rent and occupancy     1,150       1,189  
    Professional fees     6,971       4,709  
    Technology fees     1,292       2,457  
    Interest     4,026       5,119  
    Depreciation and amortization     1,019       1,216  
    Other     5,116       3,225  
                 
    Total expenses     172,050       167,469  
                 
    (Loss) income before provision for income taxes     (3,147 )     486  
                 
    Provision (benefit) for income taxes     1,415       (85 )
                 
    Net (loss) income   $ (4,562 )   $ 571  
                 
    Net income attributable to Legacy BMS Management Services LLC members     730        
                 
    Net loss attributable to Binah Capital Group, Inc.   $ (5,292 )      
                 
    Net loss per share basic and diluted   $ (0.32 )      
                 
    Weighted average shares basic and diluted     16,593        
                     

    Binah Capital Group Reconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA

    EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA plus non-recurring costs related to our business combination as well as re-financing the senior credit facility costs. The Company presents EBITDA and Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA and Adjusted EBITDA are not a measure of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP.

    Below is a reconciliation of net income to EBITDA and EBITDA to Adjusted EBITDA for the periods presented (in millions):

        For the Years Ended December 31,
    EBITDA Reconciliation   2024   2023
    Net (loss) income   $ (4.6 )   $ 0.6  
    Interest expense     4.0       5.1  
    (Benefit) Provision for income taxes     1.4       (0.1 )
    Depreciation and amortization     1.0       1.2  
    EBITDA   $ 1.9     $ 6.8  
    Business combination and re-financing costs     4.4       1.6  
    Adjusted EBITDA   $ 6.3     $ 8.4  
                     

    The MIL Network

  • MIL-OSI: Red Cat Holdings Reports Financial Results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, March 31, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and provides a corporate update.

    Recent Operational Highlights:

    • Black Widow selected as the sole winner and provider of the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record.
    • Closed the acquisition of FlightWave Aerospace Systems Corporation. The acquisition officially brings the Edge 130, FlightWave’s Blue UAS approved military-grade tri-copter, into Red Cat’s Family of Systems.
    • Partnered with Palantir to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones. This collaboration will transform autonomous sUAS operations for modern warfare by utilizing Palantir’s Visual Navigation in GPS denied environments.
    • Partnered with Palantir to deploy Warp Speed, Palantir’s manufacturing OS. This collaboration will transform our supply and manufacturing operations with Palantir’s AI enabled monitoring, process flow enhancement and comprehensive data analysis. Palantir’s Warp Speed will optimize Red Cat’s production and streamline its supply chain, change management, and quality assurance, ultimately reducing costs and improving margins.
    • Announced that the Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.
    • Introduced our Black Widow™ short-range reconnaissance drone and Edge 130 Tricopter to the Middle East market at the International Defense Exhibition and Conference in Abu Dhabi, UAE, Feb 17-21 2025.
    • Will be introducing Black Widow™ and Edge 130 drones to the Latin American market at LAAD 2025 in Rio De Janeiro, Brazil in April 2025.
    • Introduced Black Widow™ to the Asia Pacific Market at the AISSE conference in Putrajaya, Malaysia in January 2025.
    • Expanded our Red Cat Futures Industry Consortium to include Palantir and Palladyne to boost AI capabilities in contested environments, including visual navigation.

    2024 Transition Period (as of December 31, 2024 and the eight months then ended) Financial Highlights:

    • Transition period revenue of $4.9 million
    • Ended the period with cash and accounts receivable of $9.6 million
    • Closed an additional $6 million financing since prior quarter end
    • Guidance of $80-$120 million for calendar year 2025 , which consists of:
      • $25 million in Non-SRR Black Widow sales
      • $25 million in Edge 130 sales
      • $5 million in Fang FPV sales
      • $25 to $65 million in SRR-related Black Widow sales

    “Red Cat’s partnerships and global expansion strategy is already yielding strong results. Over the past few months, we’ve introduced the Black Widow and Edge 130 drones to key international markets, including the Middle East, Asia Pacific, and soon Latin America,” said Jeff Thompson, Red Cat CEO. “This momentum underscores growing global interest in our Family of Systems. The ongoing development of Black Widow for the U.S. Army’s SRR Program of Record, bolstered by AI partners like Palantir and Palladyne, we’re not only meeting immediate defense needs—we’re ensuring our warfighters and allies are well equipped for rapidly-evolving battlefield.”

    “Our financial position remains solid as we scale to meet increased demand,” added Thompson. “With over $9 million in cash and receivables and the recently secured debt financing of $15 million, we’ve significantly strengthened our capital position heading into a pivotal year. This infusion of non-dilutive capital allows us to aggressively scale production, and meet accelerating demand tied to the U.S. Army’s SRR program and international opportunities. Combined with our strong cash balance and operational discipline, we are confident in our ability to support 2025 revenue guidance and deliver long-term shareholder value.”

    Conference Call Today

    CEO Jeff Thompson will host an earnings conference call at 4:30 p.m. ET on Monday, March 31, 2025 to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

    Interested parties can attend the conference call through a live webcast that can be accessed at:
    https://event.choruscall.com/mediaframe/webcast.html?webcastid=kOCu4DoZ.

    About Red Cat Holdings, Inc.
    Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

    Forward Looking Statements
    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

    NEWS MEDIA:
    Phone: (347) 880-2895
    Email: peter@indicatemedia.com

     
    RED CAT HOLDINGS
    Condensed Consolidated Balance Sheets
     
          December 31,     April 30,
          2024       2024  
    ASSETS            
                 
    Cash   $ 9,154,297     $ 6,067,169  
    Accounts receivable, net     489,316       4,361,090  
    Inventory, including deposits     13,592,900       8,610,125  
    Intangible assets including goodwill, net     26,124,133       12,882,939  
    Equity method investee           5,142,500  
    Note receivable           4,000,000  
    Other     6,243,621       7,473,789  
                 
    TOTAL ASSETS   $ 55,604,267     $ 48,537,612  
                 
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
                 
    Accounts payable and accrued expenses   $ 3,517,118     $ 2,703,922  
    Debt obligations     350,000       751,570  
    Operating lease liabilities     1,617,596       1,517,590  
    Total liabilities     5,484,714       4,973,082  
                 
    Stockholders’ capital     174,864,256       124,690,641  
    Accumulated deficit/comprehensive loss     (124,744,703 )     (81,126,111 )
    Total stockholders’ equity     50,119,553       43,564,530  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 55,604,267     $ 48,537,612  
     
    Condensed Consolidated Statements of Operations
     
          For the Eight
    Months Ended
    December 31,
    2024
        For the Year
    Ended
    April 30,
    2024
     
    Revenues     $ 4,850,304     $ 17,836,382  
                       
    Cost of goods sold       6,206,378       14,155,836  
                       
    Gross (loss) profit       (1,356,074 )     3,680,546  
                       
    Operating Expenses                  
    Research and development       6,610,980       6,266,129  
    Sales and marketing       6,321,763       5,086,600  
    General and administrative       11,459,442       11,214,154  
    Impairment loss       93,050       412,999  
    Total operating expenses       24,485,235       22,979,882  
    Operating loss       (25,841,309 )     (19,299,336 )
                       
    Other expense       17,772,662       2,227,360  
                       
    Net loss from continuing operations       (43,613,971 )     (21,526,696 )
                       
    Loss from discontinued operations             (2,525,933 )
    Net loss     $ (43,613,971 )   $ (24,052,629 )
                       
    Loss per share – basic and diluted     $ (0.57 )   $ (0.40 )
                       
    Weighted average shares outstanding – basic and diluted       77,039,869       60,118,675  
                       
    Condensed Consolidated Statements of Cash Flows
         
         For the Eight
    Months Ended
    December 31,
    2024
         For the Year
    Ended
    April 30,
    2024
     
    Cash Flows from Operating Activities                
    Net loss from continuing operations   $ (43,613,971 )   $ (21,526,696 )
    Non-cash expenses     22,633,786       8,479,195  
    Changes in operating assets and liabilities     444,208       (4,672,816 )
    Net cash used in operating activities     (20,535,977 )     (17,720,317 )
                     
    Cash Flows from Investing Activities                
    Proceeds from sale of marketable securities           12,826,217  
    Proceeds from sale of equity method investment and note receivable     4,400,000        
    Other     (163,555 )     740,861  
    Net cash provided by investing activities     4,236,445       13,567,078  
                     
    Cash Flows from Financing Activities                
    Proceeds from issuance of convertible notes payable, net     13,456,000        
    Payments of debt obligations, net     (394,606 )     (572,137 )
    Proceeds from exercise of stock options     1,350,267       2,655  
    Proceeds from exercise of warrants     4,974,999        
    Proceeds from issuance of common stock, net           8,404,812  
    Net cash provided by financing activities     19,386,660       7,835,330  
                     
    Net cash used in discontinued operations           (875,227 )
                     
    Net increase in Cash     3,087,128       2,806,864  
    Cash, beginning of period     6,067,169       3,260,305  
    Cash, end of period    $ 9,154,297      $ 6,067,169  

    The MIL Network

  • MIL-OSI: Helport AI Reports First Half Fiscal Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    First Half Fiscal Year 2025 Revenue up 13.1% to $16.4 Million Period over Period

    Accelerating Enterprise AI Adoption Fuels Market Expansion, Unlocking New Opportunities in AI-Powered Customer Engagement

    Management to Host Conference Call Today, March 31, 2025 at 4:30 PM ET

    SINGAPORE and SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) — Helport AI Limited (NASDAQ: HPAI) (“Helport AI” or the “Company”), an AI technology company serving enterprise clients with intelligent customer communication software and services, today announced financial results for the six months ended December 31, 2024.

    First Half Fiscal Year 2025 Highlights

    • Average monthly subscribed seats were 6,469 for the six months ended December 31, 2024, representing an increase of 29.1% from 5,011 in the same period of 2023.
    • Revenue for the six months ended December 31, 2024, was $16.4 million, representing an increase of 13.1% from $14.5 million in the six months ended December 31, 2023, driven by increased enterprise adoption of AI-driven solutions.
    • Gross profit for the first half of fiscal year 2025 was $9.0 million, representing a decrease of 7.7% from $9.7 million in the first half of fiscal year 2024, as a result of continued investment in AI infrastructure and product innovation.
    • Net income was $1.1 million in the first half of fiscal year 2025, compared to $6.2 million in the first half of fiscal year 2024, representing a decrease of 82.9%, as a result of our increased investments in R&D, public company regulatory compliance costs, and global expansion expenses.
    • Net cash provided by operating activities was $3.9 million for the six months ended December 31, 2024, supporting business expansion and strategic initiatives.
    • As of December 31, 2024, there were 37,132,968 ordinary shares and 18,845,000 warrants issued and outstanding. 

    Subsequent Operational Milestones

    • As of December 2024, Helport AI Assist software is officially approved and available on Google Cloud Marketplace, allowing businesses across sectors to access Helport’s AI-driven software.
    • Successful rollout of partnership with Google by delivering AI-driven software and services to one of its US west coast government accounts. First phase completed with further collaboration underway.
    • In December 2024, Helport AI formed a strategic partnership with a US wholesale mortgage lender to offer Helport AI Assist software to its network of over 100,000 loan officers nationwide.
    • Opened new office in the Philippines in January 2025, establishing a ‘Global Center of Excellence’ to drive artificial intelligence operations and service offerings in the business process outsourcing (BPO) industry. In less than three months, headcount has grown to more than 100 workers, reflecting strong demand from customers in the region.
    • Appointed Amy Fong as President, Director, and Interim Chief Financial Officer, bringing over 25 years of experience as a seasoned professional across multiple industries, including banking, private equity, management consulting, and the not-for-profit sector.
    • Progress in the debt collection space since January 2025, having secured partnerships with three consumer financing companies in Southeast Asia, two of which are publicly listed in the U.S.
    • Since February 2025, the Company has signed partnerships with seven U.S. insurance agencies to pilot Helport AI Assist software.
    • Company to host “Investor/Analyst Day” at its North America HQ in San Diego in Q2 of 2025.

    Outlook for Second Half Fiscal Year 2025 & Beyond:

    • Revenue Growth: Accelerating revenue materialization from a robust pipeline of customers in our core sectors of insurance, mortgage sales, BPO call centers, consumer financing, and government services. Driving further expansion in the U.S. and Southeast Asia through enterprise partnerships and focused execution in these core industries.
    • Profitability & Cost Optimization: Improving AI training efficiency and cloud infrastructure to enhance margins over time.
    • AI+BPO Monetization: Expanding in-house AI + human service delivery model to facilitate new customer acquisition and rapid proof of concept. Leveraging this software plus service offering to efficiently scale user base and revenue generation across global markets.
    • Continued R&D Innovation: Investing in AI capabilities, including voice cloning, multilingual automation, and industry-specific integrations.

    Management Commentary

    “The first half of fiscal year 2025 delivered revenue growth of 13.1%, which was driven by continued enterprise adoption of AI-powered software, technology improvements, and the scaling of our international sales and operations teams,” said Guanghai Li, Chief Executive Officer of Helport AI. “During this time, we made significant investments in product development, cloud infrastructure, and international expansion, which temporarily impacted gross margins and profitability. However, we believe that these investments are essential to scaling our platform and expanding into new markets, and we maintained profitability despite these investments. Moreover, we have seen our enterprise customers increasingly leverage our AI-powered BPO solutions to drive cost efficiencies and improve customer engagement, helping differentiate ourselves as a market leader in the AI-driven customer contact space.”

    “On the technology front, our products are now comprehensively integrated with large language models (LLMs), which has been shown to enhance their ability to digest raw, unstructured information and provide smart, domain-specific applications for our growing customer base. We have also built new industry-specific knowledge bases, achieving major milestones for the Company across key sectors. Demonstrating this ability to penetrate new industries where we see vast growth potential, we have partnered with U.S.-based LendSure Mortgage Corp. (“LendSure”), a wholesale lender with a network of over 100,000 loan officers, as well as with seven insurance agencies across multiple US states. These scalable seeds represent early traction across multiple industry sectors, each of which represents significant market opportunities.”

    “Operationally, we continued to make strategic investments in our team and infrastructure to strengthen and expand our capabilities and global reach. We have established offices in the Philippines and the U.S. and are in the process of opening additional offices in North America and Southeast Asia to execute on both existing and potential demand in these regions. We also welcomed Amy Fong as President, Director, and Interim CFO. Amy is a seasoned executive who is now overseeing our finance functions, leading strategy across capital markets, partner and customer development, and global operations.”

    “Looking ahead to the second half of fiscal year 2025, we are building on our foundation and doubling down on strategic initiatives to accelerate revenue growth and enhance profitability. We are deepening penetration in what we anticipate will be high-growth markets, specifically North America and Southeast Asia. As demonstrated with our recent customer acquisitions across mortgage, insurance, and debt collection, we are tailoring our AI-powered solutions for industry-specific needs, aiming to expand adoption among BPOs, financial services, and public sector industries. We are driving monetization and acceleration of our AI+BPO offering, which has seen noteworthy demand in new segments such as consumer financing, which we expect will allow us to capture greater market share in AI-driven customer engagement solutions.”

    “We will continue to prioritize R&D investments and building next-generation AI products that further differentiate Helport AI in the market. We are also focusing on cost efficiencies, including optimizing AI training costs and cloud infrastructure, and improving unit economics per deployment, to strengthen profitability and deliver long-term value to our shareholders,” concluded Li.

    Financial Review for the Six Months Ended December 31, 2024 and 2023

    Revenue

    During the six months ended December 31, 2024 and 2023, all of our revenue was derived from AI services. Revenue increased by approximately US$1.9 million, or 13.1%, from US$14.5 million for the six months ended December 31, 2023 to US$16.4 million for the six months ended December 31, 2024. The increase was primarily attributable to the average monthly subscribed seats, which grew from 5,011 for the six months ended December 31, 2023 to 6,469 for the six months ended December 31, 2024. The growth was driven by (i) our efforts in continuous optimization and development in our service offerings and software platform, (ii) our abilities to improve overall cost performance for customers in their business management process, and (iii) the growing demand for AI software in the professional technology services market. During the first half of FY2025, the Company entered the U.S. market and secured several customers, demonstrating initial business traction and expansion potential.

    Cost of Revenue

    Cost of revenue primarily consists of amortization of software, payments to a third-party service provider for outsourced operations, as well as cloud infrastructure costs. Cost of revenue related to AI services increased by approximately US$2.6 million, or 55.2%, from US$4.8 million for the six months ended December 31, 2023 to US$7.4 million for the six months ended December 31, 2024, mainly due to the corresponding rise in outsourced operation costs as revenue increased. The growth rate of cost of revenue is proportionally higher than that of revenue, primarily due to investments required to serve new markets and customers. These investments enable us to enhance our product and service offerings with differentiated, competitive technology—particularly through the development of industry-specific application scenarios. These tailored solutions are essential for entering new sectors such as insurance, mortgage sales, and government services, as well as for localizing our platform to meet the regulatory and operational demands of new geographic regions like North America and Southeast Asia.

    Gross Profit

    As a result of the foregoing, we recorded gross profit of US$9.0 million and US$9.7 million for the six months ended December 31, 2024 and 2023, respectively. This reduction of gross profit margin from 67.0% to 54.6% is the result of the aforementioned elevated amortization costs from software R&D, increased outsourcing operation fees, and expanded cloud infrastructure, which we believe are necessary for our future growth and profitability.

    Selling and Marketing Expenses

    Our selling and marketing expenses increased by 953.0% from US$50,214 for the six months ended December 31, 2023 to US$528,746 for the six months ended December 31, 2024, which was mainly due to (i) the increase of payroll expenses of US$303,050, primarily driven by the establishment and ramp-up of dedicated sales and marketing teams in our U.S. subsidiary; and (ii) the increase of share-based compensation expense of US$121,800, resulting from share grants under the Company’s 2024 Equity Incentive Plan. The U.S. team expansion is part of our broader international growth strategy, aimed at strengthening our presence in North America—a key strategic market. As part of this effort, we significantly expanded our U.S. office presence, increasing headcount to support go-to-market execution, client onboarding, business development, and marketing in the region. In February 2024, we established the U.S. team, and by December 2024, it had expanded to twenty-two staff, among whom eight were engaged in selling and marketing activities.

    General and Administrative Expenses

    Our general and administrative expenses increased by 125.2% from US$2.0 million for the six months ended December 31, 2023 to US$4.6 million for the six months ended December 31, 2024, which was primarily attributable to: (i) an increase of US$1.5 million in professional service fees such as advisory fees, audit fees and legal fees for overseas listing; (ii) an increase of US$0.4 million in insurance expenses; (iii) an increase of US$0.2 million in payroll expenses resulting from the expansion of the management team’s headcount; and (iv) an increase of US$0.2 million in withholding tax incurred from 10% withholding tax on AI services provided to our customers in China.

    Research and Development Expenses

    Our research and development expenses increased by US$1.3 million from US$78.8 thousand for the six months ended December 31, 2023 to US$1.4 million for the six months ended December 31, 2024. The increase was attributable to an additional US$0.8 million in AI training service fees and US$0.3 million in product development fees incurred during the six months ended December 31, 2024, allowing us to better differentiate and diversify our product and services offerings with competitive technologies, especially as they relate to the development of industry-specific application scenarios.

    Financial Expenses, net

    Our financial expenses, net increased from US$19,162 for the six months ended December 31, 2023 to US$312,437 for the six months ended December 31, 2024, primarily due to an increase in foreign exchange loss of US$266,669 and the increase in interest expenses accrued for convertible promissory notes and the loan from a third party of US$22,139.

    Income Tax Expenses

    As a result of our operating income position for the six months ended December 31, 2024 and 2023, we incurred income tax expenses of US$0.7 million and US$1.3 million for the six months ended December 31, 2024 and 2023, respectively.

    Net Income

    As a result of the foregoing, our net income decreased by US$5.1 million, or 82.9%, from US$6.2 million for the six months ended December 31, 2023 to US$1.1 million for the six months ended December 31, 2024. The decrease in net income was mainly due to a US$2.6 million increase in general and administrative expenses, a US$1.4 million increase in research and development expenses, and a US$0.7 million decrease in gross profit.

    Liquidity and Capital Resources

    Cash was $0.9 million as of December 31, 2024, as compared to $0.1 million on December 31, 2023. We had a positive working capital of $7.6 million and $10.6 million as of December 31, 2024 and June 30, 2024, respectively. Our liquidity is based on our ability to enhance our operating cash flow position and obtain financing from equity and debt investors to fund our general operations and capital expenditure. Our ability to further enhance our liquidity depends on management’s ability to execute our business plan successfully, which includes optimizing accounts receivable collection and striking a balance between revenue growth and investments in R&D activities.

    Use of Non-GAAP Financial Measures

    We consider adjusted net income, a non-GAAP financial measure, as a supplemental measure to review and assess our operating performance. We define adjusted net income for a specific period as net income in the same period excluding share-based compensation expenses and changes in fair value of warrant liabilities.

    We present this non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Accordingly, we believe that adjusted net income helps identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that are included in net income and certain expenses that are not expected to result in future cash payments or that are non-recurring in nature. We also believe that the use of the non-GAAP financial measure facilitates investors’ assessment of our operating performance, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision making.

    The non-GAAP financial measure should not be considered in isolation from or construed as an alternative to its most directly comparable financial measure prepared in accordance with GAAP. Investors are encouraged to review the historical non-GAAP financial measure in reconciliation to its most directly comparable GAAP financial measure. As the non-GAAP financial measure has material limitations as an analytical metric and may not be calculated in the same manner by all companies, such measure may not be comparable to other similarly titled measure used by other companies. In light of the foregoing limitations, you should not consider the non-GAAP financial measure as a substitute for, or superior to, its most directly comparable financial measure prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

    The following table reconciles our adjusted net income for the periods indicated to the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP, which is net income.

      For the six months ended
    December 31,
      2024   2023
    Net income $ 1,066,894   $ 6,243,606
    Add:          
    Share-based compensation expenses   223,933    
    Change in fair value of warrant liabilities   336,136    
    Total $ 1,626,963   $ 6,243,606


    First Half Fiscal Year 2025 Financial Results Conference Call

    Guanghai Li, Chief Executive Officer, and Amy Fong, President and Interim Chief Financial Officer, will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

    To access the call, please use the following information:

    Date: Monday, March 31, 2025
    Time: 4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time
    Toll-free dial-in number: 1-800-274-8461
    International dial-in number: 1-203-518-9814
    Conference ID (Required for Entry): HELPORT

    Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

    The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1712485&tp_key=f52524cadf and via the investor relations section of the Company’s website here.

    A replay of the webcast will be available after 9:30 p.m. Eastern Time through July 1, 2025.

    Toll-free replay number: 1-844-512-2921
    International replay number: 1-412-317-6671
    Replay ID: 11158521


    About Helport AI Limited

    We are a global AI technology company serving enterprise clients with intelligent customer communication software and services. Our proprietary software offering, Helport AI Assist (“AI Assist”), is a real-time, AI-driven “co-pilot” providing intelligent guidance for customer contact professionals across business settings. In addition, we provide AI+BPO (Business Process Outsourcing) services to facilitate customer engagement, helping clients grow sales, improve customer service, and reduce operational costs.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, but not limited to, HPAI’s business plan and outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on HPAI’s current expectations and projections about future events that HPAI believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions, although not all forward-looking statements contain these identifying words. HPAI undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although HPAI believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and HPAI cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in HPAI’s registration statement and other filings with the U.S. Securities and Exchange Commission.

    For more information, please contact:

    Helport AI Investor Relations:
    Website: https://ir.helport.ai  
    Email: ir@helport.ai

    External Investor Relations Contact:
    Chris Tyson 
    Executive Vice President
    MZ North America
    Direct: 949-491-8235
    HPAI@mzgroup.us  
    www.mzgroup.us

    HELPORT AI LIMITED
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amounts in and U.S. dollars (“US$”), except share data)
     
      As of December 31,   As of June 30,
      2024   2024
      (unaudited)    
    Cash $ 852,463   $ 2,581,086
    Accounts receivable   22,016,884     21,313,735
    Deferred offering costs       817,871
    Prepaid expenses and other receivables   2,027,167     41,966
    Total current assets   24,896,514     24,754,658
               
    Intangible assets, net   8,592,817     2,425,694
    Right-of-use assets, net   762,644    
    Total non-current asset   9,355,461     2,425,694
    Total assets $ 34,251,975   $ 27,180,352
               
    Accounts payable $ 3,280,565   $ 284,067
    Income tax payable   2,508,021     2,724,998
    Amount due to related parties   536,538     965,776
    Convertible promissory notes       4,889,074
    Warrant liabilities   4,782,915    
    Accrued expenses and other liabilities   5,684,775     5,263,239
    Lease liabilities, current   110,832    
    Deferred tax liabilities   332,626    
    Total current liabilities   17,236,272     14,127,154
               
    Lease liabilities, non-current   687,093    
    Total non-current liabilities   687,093    
    Total liabilities   17,923,365     14,127,154
               
    Commitments and contingencies          
               
    Ordinary shares (US$0.0001 par value per share; 500,000,000 authorized as of December 31, 2024 and June 30, 2024, respectively; 37,132,968 and 30,280,768 issued and outstanding as of December 31, 2024 and June 30, 2024, respectively)*   3,713     3,028
    Additional paid-in capital*   2,212,361     4,528
    Retained earnings   14,112,536     13,045,642
    Shareholders’ equity   16,328,610     13,053,198
    Total liabilities and shareholders’ equity $ 34,251,975   $ 27,180,352
               
    *Par value of ordinary shares, additional paid-in capital and share data have been retroactively restated to give effect to the reverse recapitalization that is discussed in Note 1 to the unaudited condensed consolidated financial statements.
    HELPORT AI LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
    (Amounts in and U.S. dollars (“US$”), except share data)
     
      For the six months ended December 31,
      2024   2023
      (unaudited)   (unaudited)
    Revenue $ 16,406,402     $ 14,506,363  
    Cost of revenue   (7,440,338 )     (4,793,021 )
    Gross profit   8,966,064       9,713,342  
               
    Selling expenses   (528,746 )     (50,214 )
    General and administrative expenses   (4,598,484 )     (2,042,289 )
    Research and development expenses   (1,448,115 )     (78,757 )
    Total operating expenses   (6,575,345 )     (2,171,260 )
               
    Income from operation   2,390,719       7,542,082  
               
    Financial expenses, net   (312,437 )     (19,162 )
    Change in fair value of warrant liabilities   (336,136 )      
    Income before income tax expense   1,742,146       7,522,920  
    Income tax expense   (675,252 )     (1,279,314 )
    Net income $ 1,066,894     $ 6,243,606  
               
    Total comprehensive income $ 1,066,894     $ 6,243,606  
               
    Earnings per ordinary share          
    Basic   0.03       0.21  
    Diluted   0.03       0.21  
    Weighted average number of ordinary shares outstanding*          
    Basic   35,990,935       30,280,768  
    Diluted   35,990,935       30,280,768  
     
    *Share data have been retroactively restated to give effect to the reverse recapitalization that is discussed in Note 1 to the unaudited condensed consolidated financial statements.
    HELPORT AI LIMITED
    UNAUDITED CONDENSED CONDOLIDATED STATEMENTS OF CASH FLOWS
    (Amounts in and U.S. dollars (“US$”), except share data)
     
      For the six months ended December 31,
      2024   2023
      (unaudited)   (unaudited)
    CASH FLOWS FROM OPERATING ACTIVITIES:          
    Net income $ 1,066,894     $ 6,243,606  
    Adjustments to reconcile net income to net cash provided by operating activities:          
    Amortization of intangible assets   1,957,877       1,166,667  
    Amortization of right-of-use assets   36,806        
    Share-based compensation   223,933        
    Change in fair value of warrant liabilities   336,136        
    Changes in operating assets and liabilities:          
    Accounts receivable   (703,149 )     (5,809,454 )
    Prepaid expenses and other receivables   1,028,346       (57,896 )
    Accounts payable   2,996,498       1,654,223  
    Amount due to related parties         10,800  
    Accrued expenses and other liabilities   (3,196,882 )     1,939,154  
    Income tax payable   (216,977 )     1,279,315  
    Deferred tax liabilities   332,626        
    Lease liabilities   (10,810 )      
    Net cash provided by operating activities   3,851,298       6,426,415  
               
    CASH FLOWS FORM INVESTING ACTIVITY          
    Purchase of intangible assets   (8,125,000 )     (7,000,000 )
    Net cash used in investing activity   (8,125,000 )     (7,000,000 )
               
    CASH FLOWS FORM FINANCING ACTIVITIES          
    Deferred offering costs   (213,052 )     (467,465 )
    Loan from a third party         954,909  
    Repayment of loans from a third party   (199,582 )      
    Repayment of loans from related parties   (429,238 )     (5,143 )
    Cash inflow from reverse recapitalization   1,136,951        
    Proceeds from PIPE investments   2,600,000        
    Repayment of sponsor loans   (350,000 )      
    Net cash provided by financing activities   2,545,079       482,301  
               
    Effect of exchange rate changes         (130 )
               
    Net change in cash   (1,728,623 )     (91,414 )
    Cash at the beginning of the period   2,581,086       142,401  
    Cash at the end of the period $ 852,463     $ 50,987  
               
    SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
    Recognition of right-of use assets and lease liabilities $ 799,450     $  

    The MIL Network

  • MIL-OSI: Progress Announces First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Annualized Recurring Revenue (“ARR”) of $836 million Grew 48% year-over-year
    Revenue of $238 million Grew 29% year-over-year
    ShareFile Integration Underway

    BURLINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) — Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2025.

    First Quarter 2025 Highlights:

    • Revenue and non-GAAP revenue of $238 million increased 29% year-over-year on an actual and 30% on a constant currency basis.
    • Annualized Recurring Revenue (“ARR”) of $836 million increased 48% year-over-year on a constant currency basis.
    • Operating margin was 14% and non-GAAP operating margin was 39%.
    • Diluted earnings per share was $0.24 compared to $0.51 in the same quarter last year, a decrease of 53%. 
    • Non-GAAP diluted earnings per share was $1.31 compared to $1.25 in the same quarter last year, an increase of 5%.

    “We’re extremely pleased with our excellent Q1 results,” said Yogesh Gupta, CEO of Progress. “We are ahead, or on plan, with all our ShareFile integration milestones, which are providing significant contributions to ARR and revenues, as well as expense savings. Our solid performance on the top line was again driven by our product portfolio across the board, with our data platform and infrastructure management products having a particularly solid quarter. Our Net Retention Rate again surpassed 100%, which reflects the resiliency of our business and the strength of our customer relationships. Operationally, our first quarter was solid by every metric, and I am extremely proud of our team for their dedication and relentless commitment to our customers.”

    Additional financial highlights included:

      Three Months Ended
      GAAP   Non-GAAP
    (In thousands, except percentages and per share amounts) February 28, 2025   February 29, 2024   % Change   February 28, 2025   February 29, 2024   % Change
    Revenue $ 238,015     $ 184,685       29 %   $ 238,015     $ 184,685       29 %
    Income from operations $ 32,426     $ 35,006       (7 )%   $ 93,595     $ 76,756       22 %
    Operating margin   14 %     19 %     (500) bps       39 %     42 %     (300) bps  
    Net income $ 10,946     $ 22,639       (52 )%   $ 58,995     $ 55,928       5 %
    Diluted earnings per share $ 0.24     $ 0.51       (53 )%   $ 1.31     $ 1.25       5 %
    Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP) $ 68,947     $ 70,504       (2 )%   $ 73,211     $ 72,204       1 %
                        $ 87,954   $ 78,079     13 %
                                           

    See Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures, and Select Performance Metrics and a reconciliation of non-GAAP adjustments to Progress’ GAAP financial results at the end of this press release.

    Other fiscal first quarter 2025 metrics and recent results included:

    • Cash and cash equivalents were $124.2 million at the end of the quarter.
    • Days sales outstanding was 48 days compared to 50 days in the fiscal first quarter of 2024 and 67 days in the fiscal fourth quarter of 2024.

    “We’re off to a very strong start for FY25, as our Q1 results demonstrate. Revenues at the high end of guidance reflect steady demand; expenses remain well-controlled; cash flow was again strong; and our bottom-line results and raised EPS guidance reflect numerous positives,” said Anthony Folger, CFO of Progress. “Beyond excellent financial performance, we repurchased $30 million of Progress shares and accelerated repayment of the revolving credit line used to partially finance the ShareFile acquisition, paying down $30 million during Q1. The ShareFile integration is tracking well, and we expect to complete the integration by year-end.”

    2025 Business Outlook

    Progress provides the following guidance for the fiscal year ending November 30, 2025 and the fiscal second quarter ending May 31, 2025:

      Updated FY 2025 Guidance
    (March 31, 2025)
      Prior FY 2025 Guidance
    (January 21, 2025)
    (In millions, except percentages and per share amounts) GAAP   Non-GAAP   GAAP   Non-GAAP
    Revenue $958 – $970     $958 – $970     $958 – $970     $958 – $970  
    Diluted earnings per share $1.19 – $1.35     $5.25 – $5.37     $1.08 – $1.23     $5.00 – $5.12  
    Operating margin 14% – 15 %   38 %   14% – 15 %   37% – 38 %
    Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP) $216 – $228     $226 – $238     $216 – $228     $225 – $237  
        $283 – $294       $282 – $294  
    Effective tax rate 19 %   20 %   21 %   20 %
                           
      Q2 2025 Guidance
    (In millions, except per share amounts) GAAP   Non-GAAP
    Revenue $235 – $241     $235 – $241  
    Diluted earnings per share $0.24 – $0.30     $1.28 – $1.34  
               

    Based on current exchange rates, the expected negative currency translation impact on our:

    • Fiscal year 2025 business outlook compared to 2024 exchange rates is approximately $2.8 million on revenue.
    • Fiscal Q2 2025 business outlook compared to 2024 exchange rates is approximately $0.1 million on revenue.

    Based on current exchange rates, the currency translation impact is expected to be immaterial on our GAAP and non-GAAP diluted earnings per share for both fiscal year 2025 and Q2 2025.

    To the extent that there are changes in exchange rates versus the current environment and/or our expectations, this may have an impact on Progress’ business outlook.

    Conference Call

    Progress will hold a conference call to review its financial results for the fiscal first quarter of 2025 at 5:00 p.m. ET on Monday, March 31, 2025. Participants must register for the conference call here: https://register-conf.media-server.com/register/BIb86bb577ced14b9fa67069eb761f36a9. The webcast can be accessed at: https://edge.media-server.com/mmc/p/bt5rgqn7. The conference call will include comments followed by questions and answers. Attendees must register for the webcast and an archived version of the conference call and supporting materials will be available on the Progress website within the investor relations section after the live conference call.

    About Progress

    Progress (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

    Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

    Investor Contact:   Press Contact:
    Michael Micciche   Jeff Young
    Progress Software   Progress Software
    +1 781 850 8450   +1 781 280 4000
    Investor-Relations@progress.com   PR@progress.com
         

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)

      Three Months Ended
    (In thousands, except per share data) February 28, 2025   February 29, 2024   % Change
    Revenue:          
    Software licenses $ 58,445     $ 64,100       (9 )%
    Maintenance, SaaS, and professional services   179,570       120,585       49 %
    Total revenue   238,015       184,685       29 %
    Costs of revenue:          
    Cost of software licenses   2,925       2,731       7 %
    Cost of maintenance, SaaS, and professional services   32,884       22,219       48 %
    Amortization of acquired intangibles   10,422       7,859       33 %
    Total costs of revenue   46,231       32,809       41 %
    Gross profit   191,784       151,876       26 %
    Operating expenses:          
    Sales and marketing   51,296       39,111       31 %
    Product development   46,375       34,988       33 %
    General and administrative   25,623       21,344       20 %
    Amortization of acquired intangibles   25,808       17,389       48 %
    Cyber vulnerability response expenses, net   737       987       (25 )%
    Restructuring expenses   7,029       2,349       199 %
    Acquisition-related expenses   2,490       702       255 %
    Total operating expenses   159,358       116,870       36 %
    Income from operations   32,426       35,006       (7 )%
    Other expense, net   (19,124 )     (7,399 )     158 %
    Income before income taxes   13,302       27,607       (52 )%
    Provision for income taxes   2,356       4,968       (53 )%
    Net income $ 10,946     $ 22,639       (52 )%
                   
    Earnings per share:              
    Basic $ 0.25     $ 0.52       (52 )%
    Diluted $ 0.24     $ 0.51       (53 )%
    Weighted average shares outstanding:              
    Basic   43,256       43,802       (1 )%
    Diluted   44,887       44,826       %
                   
    Cash dividends declared per common share $     $ 0.175       (100 )%
                       
    Stock-based compensation is included in the condensed consolidated statements of operations, as follows:
    Cost of revenue $ 1,195     $ 986       21 %
    Sales and marketing   3,032       2,312       31 %
    Product development   4,410       3,665       20 %
    General and administrative   6,046       5,501       10 %
    Total $ 14,683     $ 12,464       18 %
                           

    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)

    (In thousands) February 28, 2025   November 30, 2024
    Assets      
    Current assets:      
    Cash and cash equivalents $ 124,161     $ 118,077  
    Accounts receivable, net   126,366       163,575  
    Unbilled receivables   35,454       34,672  
    Other current assets   54,694       52,489  
    Total current assets   340,675       368,813  
    Property and equipment, net   13,233       13,746  
    Goodwill and intangible assets, net   1,980,181       2,015,748  
    Right-of-use lease assets   28,308       30,894  
    Long-term unbilled receivables   30,416       28,893  
    Other assets   69,605       68,872  
    Total assets $ 2,462,418     $ 2,526,966  
    Liabilities and shareholders’ equity      
    Current liabilities:      
    Accounts payable and other current liabilities $ 90,768     $ 113,801  
    Short-term operating lease liabilities   8,975       9,202  
    Short-term deferred revenue, net   328,798       332,142  
    Total current liabilities   428,541       455,145  
    Long-term debt, net   700,000       730,000  
    Convertible senior notes, net   797,277       796,267  
    Long-term operating lease liabilities   24,260       26,259  
    Long-term deferred revenue, net   71,508       72,270  
    Other long-term liabilities   8,985       8,237  
    Stockholders’ equity:      
    Common stock and additional paid-in capital   353,469       354,592  
    Retained earnings   78,378       84,196  
    Total stockholders’ equity   431,847       438,788  
    Total liabilities and stockholders’ equity $ 2,462,418     $ 2,526,966  
                   

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)  

      Three Months Ended
    (In thousands) February 28, 2025   February 29, 2024
    Cash flows from operating activities:      
    Net income $ 10,946     $ 22,639  
    Depreciation and amortization   39,209       27,544  
    Stock-based compensation   14,683       12,464  
    Other non-cash adjustments   3,070       1,327  
    Changes in operating assets and liabilities   1,039       6,530  
    Net cash flows from operating activities   68,947       70,504  
    Capital expenditures   (1,290 )     (309 )
    Repurchases of common stock, net of issuances   (23,870 )     (14,917 )
    Dividend equivalent and dividend payments to stockholders   (359 )     (8,171 )
    Payments for acquisitions   (1,195 )      
    Principal payment on term loan and repayment of revolving line of credit   (30,000 )     (33,437 )
    Other   (6,149 )     (7,406 )
    Net change in cash and cash equivalents   6,084       6,264  
    Cash and cash equivalents, beginning of period   118,077       126,958  
    Cash and cash equivalents, end of period $ 124,161     $ 133,222  
                   

    RECONCILIATIONS OF GAAP TO NON-GAAP SELECTED FINANCIAL MEASURES
    (Unaudited)

      Three Months Ended
    (In thousands, except per share data) February 28, 2025   February 29, 2024
    Adjusted income from operations:      
    GAAP income from operations $ 32,426     $ 35,006  
    Amortization of acquired intangibles   36,230       25,248  
    Stock-based compensation   14,683       12,464  
    Restructuring expenses   7,029       2,349  
    Acquisition-related expenses   2,490       702  
    Cyber vulnerability response expenses, net   737       987  
    Non-GAAP income from operations $ 93,595     $ 76,756  
           
    Adjusted net income:      
    GAAP net income $ 10,946     $ 22,639  
    Amortization of acquired intangibles   36,230       25,248  
    Stock-based compensation   14,683       12,464  
    Restructuring expenses   7,029       2,349  
    Acquisition-related expenses   2,490       702  
    Cyber vulnerability response expenses, net   737       987  
    Provision for income taxes   (13,120 )     (8,461 )
    Non-GAAP net income $ 58,995     $ 55,928  
           
    Adjusted diluted earnings per share:      
    GAAP diluted earnings per share $ 0.24     $ 0.51  
    Amortization of acquired intangibles   0.80       0.56  
    Stock-based compensation   0.32       0.28  
    Restructuring expenses   0.16       0.05  
    Acquisition-related expenses   0.06       0.02  
    Cyber vulnerability response expenses, net   0.02       0.02  
    Provision for income taxes   (0.29 )     (0.19 )
    Non-GAAP diluted earnings per share $ 1.31     $ 1.25  
           
    Non-GAAP weighted avg shares outstanding – diluted   44,887       44,826  
           

    OTHER NON-GAAP FINANCIAL MEASURES
    (Unaudited)

    Adjusted Free Cash Flow and Unlevered Free Cash Flow          
      Three Months Ended
    (In thousands) February 28, 2025   February 29, 2024   % Change
    Cash flows from operations $ 68,947     $ 70,504       (2 )%
    Purchases of property and equipment   (1,290 )     (309 )     317 %
    Free cash flow   67,657       70,195       (4 )%
    Add back: restructuring payments   5,554       2,009       176 %
    Adjusted free cash flow $ 73,211     $ 72,204       1 %
    Add back: tax-effected interest expense   14,743       5,875       151 %
    Unlevered free cash flow $ 87,954     $ 78,079       13 %
                           

    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
    (Unaudited)

    Fiscal Year 2025 Updated Non-GAAP Operating Margin Guidance
      Fiscal Year Ending November 30, 2025
    (In millions) Low   High
    GAAP income from operations $ 137.2     $ 145.7  
    GAAP operating margins   14 %     15 %
    Acquisition-related expense   6.0       6.0  
    Restructuring expense   9.4       9.4  
    Stock-based compensation   62.8       62.8  
    Amortization of acquired intangibles   144.9       144.9  
    Cyber vulnerability response expenses, net   4.2       4.2  
    Total adjustments(1)   227.3       227.3  
    Non-GAAP income from operations $ 364.5     $ 373.0  
    Non-GAAP operating margin   38 %     38 %
    (1)Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
     
    Fiscal Year 2025 Updated Non-GAAP Earnings per Share and Effective Tax Rate Guidance
      Fiscal Year Ending November 30, 2025
    (In millions, except per share data) Low   High
    GAAP net income $ 53.2     $ 60.9  
    Adjustments (from previous table)   227.3       227.3  
    Income tax adjustment(2)   (46.1 )     (46.2 )
    Non-GAAP net income $ 234.4     $ 242.0  
           
    GAAP diluted earnings per share $ 1.19     $ 1.35  
    Non-GAAP diluted earnings per share $ 5.25     $ 5.37  
           
    Diluted weighted average shares outstanding   44.7       45.1  
             
             
    2 Tax adjustment is based on a non-GAAP effective tax rate of approximately 20%, calculated as follows:
        Fiscal Year Ending November 30, 2025
        Low   High
    Non-GAAP income from operations   $ 364.5     $ 373.0  
    Other (expense) income     (71.5 )     (70.5 )
    Non-GAAP income from continuing operations before income taxes     293.0       302.5  
    Non-GAAP net income     234.4       242.0  
    Tax provision   $ 58.6     $ 60.5  
    Non-GAAP tax rate     20 %     20 %
                     

    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
    (Unaudited)

    Fiscal Year 2025 Adjusted Free Cash Flow and Unlevered Free Cash Flow Guidance
      Fiscal Year Ending November 30, 2025
    (In millions) Low   High
    Cash flows from operations (GAAP) $ 216     $ 228  
    Purchases of property and equipment   (7 )     (7 )
    Add back: restructuring payments   17       17  
    Adjusted free cash flow (non-GAAP)   226       238  
    Add back: tax-effected interest expense   57       56  
    Unlevered free cash flow (non-GAAP) $ 283     $ 294  
                   

    RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR Q2 2025 GUIDANCE
    (Unaudited)

    Q2 2025 Non-GAAP Earnings per Share Guidance
      Three Months Ending May 31, 2025
      Low   High
    GAAP diluted earnings per share $ 0.24     $ 0.30  
    Acquisition-related expense   0.04       0.04  
    Restructuring expense   0.03       0.03  
    Stock-based compensation   0.38       0.38  
    Amortization of acquired intangibles   0.83       0.83  
    Cyber vulnerability response expenses, net   0.01       0.01  
    Total adjustments(1)   1.29       1.29  
    Income tax adjustment   (0.25 )     (0.25 )
    Non-GAAP diluted earnings per share $ 1.28     $ 1.34  
    (1)Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
                   

    Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures and Select Performance Metrics

    Progress furnishes certain non-GAAP supplemental information to our financial results. We use such non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that excluding the effects of certain GAAP-related items helps to illustrate underlying trends in our business and provides us with a more comparable measure of our continuing business, as well as greater understanding of the results from the primary operations of our business. Management also uses such non-GAAP financial measures to establish budgets and operational goals, evaluate performance, and allocate resources. In addition, the compensation of our executives and non-executive employees is based in part on the performance of our business as evaluated by such non-GAAP financial measures. We believe these non-GAAP financial measures enhance investors’ overall understanding of our current financial performance and our prospects for the future by: (i) providing more transparency for certain financial measures, (ii) presenting disclosure that helps investors understand how we plan and measure the performance of our business, (iii) affords a view of our operating results that may be more easily compared to our peer companies, and (iv) enables investors to consider our operating results on both a GAAP and non-GAAP basis (including following the integration period of our prior and proposed acquisitions). However, this non-GAAP information is not in accordance with, or an alternative to, generally accepted accounting principles in the United States (“GAAP”) and should be considered in conjunction with our GAAP results as the items excluded from the non-GAAP information may have a material impact on Progress’ financial results. A reconciliation of non-GAAP adjustments to Progress’ GAAP financial results is included in the tables above.

    In the noted fiscal periods, we adjusted for the following items from our GAAP financial results to arrive at our non-GAAP financial measures:

    • Amortization of acquired intangibles – We exclude amortization of acquired intangibles because those expenses are unrelated to our core operating performance and the intangible assets acquired vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses acquired. Adjustments include preliminary estimates relating to the valuation of intangible assets from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
    • Stock-based compensation – We exclude stock-based compensation to be consistent with the way management and, in our view, the overall financial community evaluates our performance and the methods used by analysts to calculate consensus estimates. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include these charges in operating plans.
    • Restructuring expenses – In all periods presented, we exclude restructuring expenses incurred because those expenses distort trends and are not part of our core operating results. Adjustments include preliminary estimates relating to restructuring expenses from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
    • Acquisition-related expenses – We exclude acquisition-related expenses in order to provide a more meaningful comparison of the financial results to our historical operations and forward-looking guidance and the financial results of less acquisitive peer companies. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Furthermore, we do not consider these acquisition-related costs and adjustments to be related to the organic continuing operations of the acquired businesses and are generally not relevant to assessing or estimating the long-term performance of the acquired assets. In addition, the size, complexity and/or volume of past acquisitions, which often drives the magnitude of acquisition-related costs, may not be indicative of the size, complexity and/or volume of future acquisitions.
    • Cyber vulnerability response expenses, net – We exclude certain expenses resulting from the zero-day MOVEit Vulnerability, as more thoroughly described in our filings with the Securities and Exchange Commission since June 5, 2023. Expenses include costs to investigate and remediate these cyber related matters, as well as legal and other professional services related thereto. Expenses related to such cyber matters are provided net of expected insurance recoveries, although the timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. Costs associated with the enhancement of our cybersecurity program are not included within this adjustment. We expect to continue to incur legal and other professional services expenses in future periods associated with the MOVEit vulnerability. Expenses related to such cyber matters are expected to result in operating expenses that would not have otherwise been incurred in the normal course of business operations. We believe that excluding these costs facilitates a more meaningful evaluation of our operating performance and comparisons to our past operating performance.
    • Provision for income taxes – We adjust our income tax provision by excluding the tax impact of the non-GAAP adjustments discussed above.
    • Constant currency – Revenue from our international operations has historically represented a substantial portion of our total revenue. As a result, our revenue results have been impacted, and we expect will continue to be impacted, by fluctuations in foreign currency exchange rates. As exchange rates are an important factor in understanding period-to-period comparisons, we present revenue growth rates on a constant currency basis, which helps improve the understanding of our revenue results and our performance in comparison to prior periods. The constant currency information presented is calculated by translating current period results using prior period weighted average foreign currency exchange rates.

    In the noted fiscal periods, we also present the following liquidity measures:

    • Adjusted free cash flow (“AFCF”) and unlevered free cash flow (“Unlevered FCF”) – AFCF is equal to cash flows from operating activities less purchases of property and equipment, plus restructuring payments. Unlevered FCF is AFCF plus tax-effected interest expense on outstanding debt.

    In the noted fiscal periods, we also present the following select performance metrics:

    • Annualized Recurring Revenue (“ARR”) – We disclose ARR as a performance metric to help investors better understand and assess the performance of our business because our mix of revenue generated from recurring sources currently represents the substantial majority of our revenues and is expected to continue in the future. We define ARR as the annualized revenue of all active and contractually binding term-based contracts from all customers at a point in time. ARR includes revenue from maintenance, software upgrade rights, public cloud, and on-premises subscription-based transactions and managed services. ARR mitigates fluctuations in revenue due to seasonality, contract term and the sales mix of subscriptions for term-based licenses and SaaS. We use ARR to understand customer trends and the overall health of our business, helping us to formulate strategic business decisions.

      We calculate the annualized value of annual and multi-year contracts, and contracts with terms less than one year, by dividing the total contract value of each contract by the number of months in the term and then multiplying by 12. Annualizing contracts with terms less than one-year results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period. We generally do not sell non-SaaS-based contracts with a term of less than one year unless a customer is purchasing additional licenses under an existing annual or multi-year contract. The expectation is that at the time of renewal, such contracts with a term less than one year will renew with the same term as the existing contracts being renewed, such that both contracts are co-termed. Historically, such contracts with a term of less than one year renew at rates equal to or better than annual or multi-year contracts.

      For SaaS-based contracts, there is a meaningful percentage of monthly auto-renewing contracts for which annualizing the contracts results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period.

      Revenue from term-based license and on-premises subscription arrangements include a portion of the arrangement consideration that is allocated to the software license that is recognized up-front at the point in time control is transferred under ASC 606 revenue recognition principles. ARR for these arrangements is calculated as described above. The expectation is that the total contract value, inclusive of revenue recognized as software license, will be renewed at the end of the contract term.

      The calculation is done at constant currency using the current year budgeted exchange rates for all periods presented.

      ARR is not defined in GAAP and is not derived from a GAAP measure. Rather, ARR generally aligns to billings (as opposed to GAAP revenue which aligns to the transfer of control of each performance obligation). ARR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.

    • Net Retention Rate (“NRR”) – We calculate net retention rate as of a period end by starting with the ARR from the cohort of all customers as of 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net retention rate. Net retention rate is not calculated in accordance with GAAP and is not derived from a GAAP measure.

    Note Regarding Forward-Looking Statements

    This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “intend,” “plan,” “target,” “anticipate” and “continue,” the negative of these words, other terms of similar meaning or the use of future dates. Forward-looking statements in this press release include, but are not limited to, statements regarding Progress’ business outlook (including future acquisition activity) and financial guidance. There are a number of factors that could cause actual results or future events to differ materially from those anticipated by the forward-looking statements, including, without limitation: (i) economic, geopolitical and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price; (ii) our international sales and operations subject us to additional risks that can adversely affect our operating results, including risks relating to foreign currency gains and losses; (iii) we may fail to achieve our financial forecasts due to such factors as delays or size reductions in transactions, fewer large transactions in a particular quarter, fluctuations in currency exchange rates, or a decline in our renewal rates for contracts; (iv) if the security measures for our software, services, other offerings or our internal information technology infrastructure are compromised or subject to a successful cyber-attack, or if our software offerings contain significant coding or configuration errors or zero-day vulnerabilities, we may experience reputational harm, legal claims and financial exposure; and the results of inquiries, investigations and legal claims regarding the MOVEit Vulnerability remain uncertain, while the ultimate resolution of these matters could result in losses that may be material to our financial results for a particular period; and (v) future acquisitions may not be successful or may involve unanticipated costs or other integration issues that could disrupt our existing operations; and (vi) expected synergies and benefits of the ShareFile acquisition may not be realized which could negatively impact our future results of operations and financial condition. For further information regarding risks and uncertainties associated with Progress’ business, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended November 30, 2024. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

    The MIL Network

  • MIL-OSI USA: Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program

    Source: US State of North Carolina

    Headline: Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program

    Governor Stein Encourages Employers to Apply for HIRE Vets Medallion Program
    lsaito

    Raleigh, NC

    Governor Josh Stein and North Carolina Department of Commerce Secretary Lee Lilley are encouraging North Carolina employers to hire veterans and to apply for recognition with a HIRE Vets Medallion Award, an official program of the U.S. Department of Labor.

    The application period runs through April 30, 2025.

    “North Carolina is home to approximately 700,000 veterans, who bring great skills and experience to our state’s workforce,” said Governor Stein. “The HIRE Vets program recognizes companies for their support for our nation’s heroes, cementing North Carolina’s position as the most military-friendly state.”

    HIRE Vets medallions are the only federal-level veterans’ employment awards that recognize an organization’s commitment to veteran hiring, retention and professional development. In 2024, 28 North Carolina employers received a HIRE Vets Medallion Award.

    The N.C. Department of Commerce pioneered a first-of-its-kind online feature that highlights North Carolina employers that have received the HIRE Vets medallion award on the state’s NCWorks job search site and on the NCWorks Veterans Portal, located at veterans.ncworks.gov. This tool helps veterans more easily find jobs that the recognized companies are currently advertising.

    “North Carolina’s military community is one of our state’s strategic assets, and we applaud the many employers who recognize the talent, value and unique perspective that our veterans provide,” said N.C. Department of Commerce Secretary Lee Lilley. “By recruiting and training veterans for meaningful employment opportunities, companies assist in the transition to civilian life and honor the sacrifice of military service.”

    “Veterans and their families enrich North Carolina communities and provide a ready and skilled workforce that is second to none,” said Secretary Jocelyn Mitnaul Mallette of the NC Department of Military and Veterans Affairs (NC DMVA). “Transitioning from active-duty military to Veteran status is easier when Veterans and employers engage and connect. The economic impact is significant, but the security of supporting your family with meaningful employment is something beyond measure. We appreciate the HIRE Vets Medallion program and all it does to inspire, create, and encourage employment opportunities for our Veterans.”

    The HIRE Vets Medallion Award is based on several criteria, ranging from veteran hiring and retention to providing veteran-specific resources, leadership programming, dedicated human resources, and compensation and tuition assistance programs – with requirements varying for large, medium, and small employers. There is a fee to apply for the HIRE Vets Medallion Program, which is used to cover the costs associated with carrying out the HIRE Vets Act. The fee for large employers is $495 per applicant, the fee for medium employers is $190 per applicant, and the fee for small employers is $90 per applicant.

    One of the many North Carolina employers recognized by the program is the nonprofit Asheville Buncombe Community Christian Ministries (ABCCM), the parent organization of Veterans Services of the Carolinas. Founded in 1969 through the collaboration of local churches, ABCCM works with community organizations to offer free assistance to veterans and their families.

    “At ABCCM Veterans Services of the Carolinas, we are deeply committed to empowering and supporting our nation’s Veterans as they transition into meaningful careers,” said Jessica Rice, Managing Director for Veterans Services of the Carolinas. “We are honored to be a three-time recipient of this award, recognizing the immense value Veterans bring to our organization. Their unique skills and experiences not only enhance our team but also allow them to connect on a deeper level with both their Veteran coworkers and the Veterans we serve. Together, we can ensure that those who have served our country receive the opportunities, support, and respect they deserve.”

    The Department of Commerce, working in close partnership with the U.S. Department of Labor, has 50 NCWorks Veterans Services professionals (all of whom are veterans themselves). Their primary mission is to help veterans find good jobs and training opportunities. These professionals are located across the state at local NCWorks Career Centers, which serve veterans and other jobseekers, while also helping employers meet their talent needs. The department also partners with North Carolina For Military Employment (NC4ME) on special hiring events.

    To learn more and apply for the HIRE Vets Medallion Award Program, go to www.HireVets.gov.

    Employers and veterans may also visit or contact an NCWorks Career Center for assistance. Contact information for each career center is found at www.NCWorks.gov.

    NCWorks Veterans Services are supported by the Jobs for Veterans State Grant from the Veterans’ Employment and Training Service (VETS) of the U.S. Department of Labor as part of an award to North Carolina totaling $5,703,016, with 0% financed from non-governmental sources. 

    Mar 31, 2025

    MIL OSI USA News

  • MIL-OSI: Data Storage Corporation Reports 2024 Fiscal Year Financial Results and Provides Business Update

    Source: GlobeNewswire (MIL-OSI)

    • Expanded CloudFirst platform in 2024 with 4 new Tier III data centers (UK & Chicago), totaling 10 globally to enhance multi-cloud and continuity services across North America and Europe
    • Completed Flagship Solutions Group integration into CloudFirst, boosting efficiency and cross-sell potential to clients; secured major 2024 contracts across motorsports, insurance, healthcare, and education sectors
    • Net income improved by approximately 71% for the 2024 fiscal year
      compared to 2023 fiscal year and achieved Adjusted EBITDA* of $2.37 million for 2024
    • Ends 2024 with $12.3 million in cash and marketable securities
      and no long-term debt
    • Conference Call to be held today at 11:00 am ET

    MELVILLE, N.Y., March 31, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a leading provider of multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, and IT automation, with direct connection to AWS, Microsoft Azure, and Google Cloud, today provided a business update and reported financial results for the year ended December 31, 2024.

    “We made consistent progress in 2024 — both financially and strategically,” said Chuck Piluso, CEO of Data Storage Corporation. “To start, total revenue for the year increased to $25.4 million, a modest 2% gain from 2023, reflecting a shift from lower-margin, one-time equipment sales toward long term, recurring subscription revenue streams. This strategy builds on our already $39.2 million remaining contract value with disaster recovery and cloud hosting solutions. Importantly, we ended the year with an estimated $22 million Annual Recurring Revenue run rate, demonstrating the scalability and consistency of our subscription-based model with over 80% of our revenue recurring. Furthermore, net income rose approximately 71% to $513 thousand, while Adjusted EBITDA* increased to $2.37 million — both strong indicators of improved margins and greater operational efficiency. Finally, with $12.3 million in cash and marketable securities and no long-term debt, we remain well-positioned to invest in future growth.”

    “In 2024, we also took steps to expand our footprint. Internationally, we launched CloudFirst Europe Ltd. supported by three Tier III data centers in the UK through three strategic partnerships. This expansion positions us to provide our Power platform serving clients across the U.S., Canada, and the UK — we are one of the few single source global providers. To lead our European operations, we appointed Colin Freeman as Managing Director, and early traction in the region has been promising. Domestically, we added a Tier III data center in Chicago, bringing our total to ten global sites while enhancing redundancy and performance across North America.”

    “We also completed the full integration of our Flagship Solutions Group subsidiary into our CloudFirst Technologies subsidiary, which has streamlined operations and improved our ability to deliver integrated cloud and managed services to clients. Key new contracts in 2024 included engagements with a Canadian division of a major motorsports manufacturer, a billion-dollar insurance provider, and a U.S. medical center — each reflecting our strength in delivering compliant, mission-critical high processing infrastructure solutions.”

    “Overall, 2024 was a year of meaningful execution across all fronts. We advanced our shift to a high-margin, recurring revenue model, expanded into new international markets, strengthened our infrastructure, and delivered improved financial results. These accomplishments reinforce our long-term vision and position us to scale further in 2025 and beyond as demand for compliant, enterprise-grade cloud solutions continues to rise globally.”

    Conference Call

    The Company plans will host a conference call at 11:00 a.m. Eastern Time on Monday, March 31, 2025, to discuss the Company’s financial results for the 2024 fiscal year which ended December 31, 2024, as well as corporate progress and other developments.

    The conference call will be available via telephone by dialing toll-free 877-407-9219 for U.S. callers or for international callers +1-201-689-8852. A webcast of the call may be accessed at  DSC 2024 Fiscal Year Earnings Call or on the Company’s News & Events section of the website,  www.dtst.com/news-events.

    A webcast replay of the call will be available on the Company’s website (www.dtst.com/news-events) through September 30, 2025. A telephone replay of the call will be available approximately three hours following the call, through April 7, 2025, and can be accessed by dialing 877-660-6853 for U.S. callers or + 1-201-612-7415 for international callers and entering conference ID: 13751220. 

    About Data Storage Corporation

    Data Storage Corporation (Nasdaq: DTST) through its subsidiaries is a leading provider of multi-cloud hosting, fully managed cloud services, disaster recovery, cybersecurity, IT automation, and voice & data solutions. Recognizing that data migration is a critical step in transitioning from on-premises systems to the cloud, DSC provides comprehensive migration services to ensure seamless, secure, and efficient data transfer, minimizing downtime and optimizing performance.

    Through its owned and operated cloud platform, built on IBM Power Cloud infrastructure, DSC delivers high-performance, scalable, and secure cloud solutions with interoperability across its infrastructure partners, AWS, Microsoft Azure, and Google Cloud.

    With data centers supporting its CloudFirst platform deployments across the United States, Canada, and the United Kingdom, DSC provides mission-critical solutions to a diverse clientele, including Fortune 500 companies, government agencies, educational institutions, and healthcare organizations.

    As a leader in the multi-billion-dollar cloud hosting and business continuity market, DTST is recognized for its expertise in cloud infrastructure, IT modernization, and data migration, enabling clients to transition to the cloud with confidence and operational continuity.

    For more information, please visit www.dtst.com or follow us on X @DataStorageCorp.

    *Adjusted EBITDA is a non-GAAP measure. Please refer to the Company’s financial disclosures for a reconciliation to the most directly comparable GAAP measure.

    Safe Harbor Provision

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and include statements regarding being well-positioned to invest in future growth, the Company’s Power platform serving clients across the U.S., Canada and the UK and the Company’s recent accomplishments positioning it to scale further in 2025 and beyond as demand for compliant, enterprise-grade cloud solutions continues to rise globally, and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, the Company’s ability to grow its presence in Europe, the Company being well-positioned to invest in future growth, the Company’s successful transition from on-premises systems to the cloud, and DSC delivering high-performance, scalable, and secure cloud solutions with interoperability across its infrastructure partners. These risks should not be construed as exhaustive and should be read together with the other cautionary statements included in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or otherwise.

    Contact:
    Crescendo Communications, LLC
    212-671-1020
    DTST@crescendo-ir.com 

     DATA STORAGE CORPORATION AND SUBSIDIARIES  
    CONSOLIDATED BALANCE SHEETS
                     
        December 31, 2024   December 31, 2023
    ASSETS                
    Current Assets:                
    Cash   $ 1,070,097     $ 1,428,730  
    Accounts receivable (less allowance for credit losses of $31,472   and $7,915 in 2024 and 2023, respectively)     2,225,458       1,259,972  
    Marketable securities     11,261,006       11,318,196  
    Prepaid expenses and other current assets     859,502       513,175  
    Total Current Assets     15,416,063       14,520,073  
                     
    Property and Equipment:                
    Property and equipment     9,598,963       7,838,225  
    Less—Accumulated depreciation     (6,159,307 )     (5,105,451 )
    Net Property and Equipment     3,439,656       2,732,774  
                     
    Other Assets:                
     Goodwill     4,238,671       4,238,671  
     Operating lease right-of-use assets     575,380       62,981  
     Other assets     183,439       48,436  
     Intangible assets, net     1,427,006       1,698,084  
    Total Other Assets     6,424,496       6,048,172  
                     
    Total Assets   $ 25,280,215     $ 23,301,019  
                     
    LIABILITIES AND STOCKHOLDERS’ DEFICIT                
    Current Liabilities:                
    Accounts payable and accrued expenses   $ 3,183,379     $ 2,608,938  
    Deferred revenue     212,390       336,201  
    Finance leases payable     17,641       263,600  
    Finance leases payable related party     33,879       235,944  
    Operating lease liabilities short term     98,860       63,983  
    Total Current Liabilities     3,546,149       3,508,666  
                     
    Operating lease liabilities     523,070        
    Finance leases payable           17,641  
    Finance leases payable related party           20,297  
    Deferred Tax Liability      39,031        
    Total Long-Term Liabilities     562,101       37,938  
                     
    Total Liabilities     4,108,250       3,546,604  
                     
    Commitments and contingencies (Note 7)                
                     
    Stockholders’ Equity:                
    Preferred stock, par value $.001; 10,000,000 shares authorized; 1,401,786 designated as Series A Preferred Stock, par value $.001; 0 shares issued and outstanding on December 31, 2024 and 2023            
    Common stock, par value $.001; 250,000,000 shares authorized; 7,045,108 and 6,880,460 shares issued and outstanding on December 31, 2024 and 2023, respectively     7,045       6,881  
    Additional paid in capital     40,417,813       39,490,285  
    Accumulated deficit     (18,982,589 )     (19,505,803 )
    Accumulated other comprehensive loss     (23,214 )      
    Total Data Storage Corporation Stockholders’ Equity     21,419,055       19,991,363  
    Non-controlling interest in consolidated subsidiary     (247,090 )     (236,948 )
    Total Stockholders’ Equity     21,171,965       19,754,415  
    Total Liabilities and Stockholders’ Equity   $ 25,280,215     $ 23,301,019  
    DATA STORAGE CORPORATION AND SUBSIDIARIES  
    CONSOLIDATED STATEMENTS OF INCOME
                     
        Year Ended December 31,
        2024   2023
             
    Sales   $ 25,371,303     $ 24,959,576  
                     
    Cost of sales     14,267,936       15,383,251  
                     
    Gross Profit     11,103,367       9,576,325  
                     
    Selling, general and administrative     11,023,476       9,744,736  
                     
    Income (loss) from Operations     79,891       (168,411 )
                     
    Other Income (Expense)                
    Interest income     592,819       542,229  
    Interest expense     (119,008 )     (74,502 )
    Loss on disposal of equipment     (1,599 )      
    Total Other Income     472,212       467,727  
                     
    Income before provision for income taxes     552,103       299,316  
                     
    Provision for income taxes     (39,031 )      
                     
    Net Income     513,072       299,316  
                     
    Loss in Non-controlling interest in consolidated subsidiary     10,142       82,259  
                     
    Net Income Attributable to Common Stockholders   $ 523,214     $ 381,575  
                     
    Earnings per Share – Basic   $ 0.08     $ 0.06  
    Earnings per Share – Diluted   $ 0.07     $ 0.05  
    Weighted Average Number of Shares – Basic     6,931,399       6,841,094  
    Weighted Average Number of Shares – Diluted     7,347,779       7,424,228  
     DATA STORAGE CORPORATION AND SUBSIDIARIES  
    CONSOLIDATED STATEMENTS OF CASH FLOWS 
                     
        Year Ended December 31,
        2024   2023
    Cash Flows from Operating Activities:                
    Net income   $ 513,072     $ 299,316  
    Adjustments to reconcile net income to net cash provided by operating activities:                
    Depreciation and amortization     1,350,238       1,301,594  
    Stock based compensation     794,687       506,205  
    Change in expected credit losses     45,394       119,524  
    Loss on disposal of equipment     1,599        
    Changes in Assets and Liabilities:                
    Accounts receivable     (1,010,880 )     2,123,340  
    Other assets     (135,003 )      
    Prepaid expenses and other current assets     (347,717 )     71,491  
    Right of use asset     135,559       163,520  
    Accounts payable and accrued expenses     567,930       (598,638 )
    Deferred revenue     (123,811 )     55,141  
    Deferred tax liability     39,031        
    Operating lease liability     (90,010 )     (168,446 )
    Net Cash Provided by Operating Activities     1,740,089       3,873,047  
    Cash Flows from Investing Activities:                
    Capital expenditures     (1,800,364 )     (1,545,017 )
    Purchase of marketable securities     (842,810 )     (2,307,228 )
    Sale of marketable securities     900,000        
    Net Cash Used in Investing Activities     (1,743,174 )     (3,852,245 )
    Cash Flows from Financing Activities:                
    Repayments of finance lease obligations related party     (222,362 )     (520,624 )
    Repayments of finance lease obligations     (263,600 )     (359,869 )
    Cash received for the exercise of stock options     133,005       1,699  
    Net Cash Used in Financing Activities     (352,957 )     (878,794 )
                     
    Effect of exchange rates on cash     (2,591 )      
                     
    Decrease in Cash     (358,633 )     (857,992 )
                     
    Cash, Beginning of Year     1,428,730       2,286,722  
                     
    Cash, End of Year   $ 1,070,097     $ 1,428,730  
    Supplemental Disclosures:                
    Cash paid for interest   $ 23,549     $ 65,057  
    Cash paid for income taxes   $     $  
    Non-cash investing and financing activities:                
    Assets acquired by operating lease   $ 647,958     $  
                     

    The following table shows the Company’s reconciliation of net income (loss) to adjusted EBITDA for the years ended December 31, 2024, and 2023:

    For the year ended December 31, 2024
                         
        CloudFirst Technologies   CloudFirst Europe Ltd.   Nexxis Inc.   Corporate   Total
                         
    Net income (loss)   $ 3,562,622     $ (290,219 )   $ (93,514 )   $ (2,665,817 )   $ 513,072  
                                             
    Non-GAAP adjustments:                                        
    Depreciation and amortization     1,348,534       79       850       775       1,350,238  
    Sales tax settlement     142,021                         142,021  
    Interest income                       (592,819 )     (592,819 )
    Interest expense     119,008                         119,008  
    Provision for income tax                       39,031       39,031  
    Stock-based compensation     295,688             25,991       473,008       794,687  
                                             
    Adjusted EBITDA   $ 5,467,873     $ (290,140 )   $ (66,673 )   $ (2,745,822 )   $ 2,365,238  

      

    For the year ended December 31, 2023
                         
        CloudFirst Technologies   CloudFirst Europe Ltd.   Nexxis Inc.   Corporate   Total
                         
    Net income   $ 2,625,879     $     $ (229,377 )   $ (2,097,186 )   $ 299,316  
                                             
    Non-GAAP adjustments:                                        
    Depreciation and amortization     1,300,237             705       652       1,301,594  
    Interest income                       (542,229 )     (542,229 )
    Interest expense     74,502                         74,502  
    Stock-based compensation     162,004             17,603       326,598       506,205  
                                             
    Adjusted EBITDA   $ 4,162,622     $     $ (211,069 )   $ (2,312,165 )   $ 1,639,388  

    The MIL Network

  • MIL-OSI: BOS Reports Financial Results for the Fourth Quarter and Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Net Income Rises 14.7% Year-Over-Year on Increased Gross Margin, Efficient Operations

    Provides Initial 2025 Outlook for Further 10% Growth in Sales and Net Income

    RISHON LE ZION, Israel, March 31, 2025 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC) reported its financial results for the fourth quarter and full year 2024.

    Year 2024 Financial Highlights:

    • Revenues declined by 9.7% to $39.9 million from $44.2 million in 2023. Revenue results in 2023 benefitted from one-time post-COVID restocking activities at multiple customers.
    • Gross profit margin increased to 23.3% compared to 20.8% in the preceding year, demonstrating improved operating efficiency.
    • Operating profit decreased to $1.4 million from $2.5 million in 2023, due to $1.2 million non-cash impairment of goodwill and other intangible assets in 2024.
    • EBITDA increased to $3.25 million compared to $3.06 million in 2023.
    • Financial expenses decreased to $139,000 from $441,000 in the prior year.
    • Non cash income from taxes amounted to $1 million in year 2024.
    • Net income increased by 14.7% to $2.3 million, or $0.40 per basic share, compared to $2.0 million, or $0.35 per basic share, in the year 2023.

    Fourth Quarter 2024 Financial Highlights:

    • Revenues declined by 4.6% to $10.4 million from $10.9 million in the fourth quarter of 2023.
    • Gross profit margin increased to 22.9% compared to 19.2% in the comparable quarter last year.
    • Operating loss amounted to $616,000 compared to an operating income of $400,000 in the fourth quarter of 2023, due to a $1.2 million non-cash impairment of goodwill and other intangible assets included in the results of the fourth quarter of 2024.
    • EBITDA amounted to $715,000 compared to $562,000 in the fourth quarter of 2023.
    • Financial income amounted to $99,000 compared to financial expenses of $31,000 in the fourth quarter of 2023.
    • Non cash income from taxes in the amount of $1 million in the fourth quarter of 2024.
    • Net income amounted to $485,000 or $0.08 per basic share compared to $427,000 or $0.07 per basic share in the fourth quarter of 2023.

    Eyal Cohen, BOS’ CEO, stated: “BOS improved profitability on an operating basis across all of our business units in 2024, leveraging our favorable sales mix and lean cost structure to increase gross margin to 23.3% and net income to $2.3 million. That momentum has carried into 2025 as we continue to scale the business, manage costs effectively and drive operating leverage. We are starting the year with a 35% increase in backlog, at $27 million as of December 31, 2024, compared to $20 million as of December 31, 2023, plus significant new defense customer orders announced in the first quarter to date. As a result, our 2025 outlook calls for a 10% year-over-year increase in both sales and net income to $44 million of revenues and $2.5 million of net income.

    “BOS’ growth strategy remains focused on deepening our penetration in the defense sector, where we have strong customer relationships at both the primary and subcontractor levels. We expect robust ordering patterns across the strategic defense industry to continue in 2025, and we are progressing our sales strategy to enter new overseas markets by leveraging our relationships with Israeli defense customers that operate globally. We also continue to seek accretive strategic opportunities where we can deploy our strong balance sheet to expand BOS’ capabilities and reach in the growing global defense market.”

    Board Updates
    On March 19, 2025, BOS announced the appointment of Osnat Gur, an independent director since 2021, as Board Chair and the appointment of Avi Dadon as a new independent director.

    Ms. Gur brings extensive management and leadership experience to BOS, having served as CEO of a global B2B marketing agency, an RFID technology company, and a dietary supplements manufacturer over the course of her career. She also serves as a board director in multiple Israeli companies.

    Mr. Dadon brings decades of experience in military leadership, defense procurement, supply chain management and logistics to BOS. He served as Head of Procurement for the Israeli Ministry of Defense from 2017 to 2023 and is a retired Colonel in the Israeli Defense Forces (IDF), with 28 years of military service.

    “We are excited to congratulate Osnat in her new role as Board Chair, and look forward to working with her to plan BOS’s next chapter of growth and earnings as we continue to execute our growth strategy,” said Cohen. “We also welcome Avi to the board and look forward to leveraging his decades of experience with the IDF and Ministry of Defense procurement to support BOS’s continued success.” 

    About BOS Better Online Solutions Ltd.
    BOS integrates cutting-edge technologies to streamline and enhance supply chain operations across three specialized divisions:

    • Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.
    • RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.
    • Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing cutting-edge products.

    For additional information, contact:
    Matt Kreps, Managing Director
    Darrow Associates
    +1-214-597-8200
    mkreps@darrowir.com

    Eyal Cohen, CEO
    +972-542525925
    eyalc@boscom.com

    Use of Non-GAAP Financial Information
    BOS reports financial results in accordance with US GAAP and herein provides some non-GAAP measures. These non-GAAP measures are not in accordance with, nor are they a substitute for, GAAP measures. These non-GAAP measures are intended to supplement the Company’s presentation of its financial results that are prepared in accordance with GAAP. The Company uses the non-GAAP measures presented to evaluate and manage the Company’s operations internally. The Company is also providing this information to assist investors in performing additional financial analysis that is consistent with financial models developed by research analysts who follow the Company. The reconciliation set forth below is provided in accordance with Regulation G and reconciles the non-GAAP financial measures with the most directly comparable GAAP financial measures.

    Safe Harbor Regarding Forward-Looking Statements
    The forward-looking statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of BOS. These risk factors and uncertainties include, amongst others, the dependency of sales being generated from one or few major customers, the uncertainty of BOS being able to maintain current gross profit margins, inability to keep up or ahead of technology and to succeed in a highly competitive industry, inability to maintain marketing and distribution arrangements and to expand our overseas markets, uncertainty with respect to the prospects of legal claims against BOS, the effect of exchange rate fluctuations, general worldwide economic conditions, the continued availability of financing for working capital purposes and to refinance outstanding indebtedness; and additional risks and uncertainties detailed in BOS’ periodic reports and registration statements filed with the US Securities and Exchange Commission, including risks related to Israel’s conflicts with Hamas and other parties in the region.
    BOS undertakes no obligation to publicly update or revise any forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

     
    CONSOLIDATED STATEMENTS OF OPERATIONS
    U.S. dollars in thousands
           
      Year ended
    December 31,
      Three months ended
    December 31,
      2024
      2023     2024
      2023
      (Unaudited)
      (Audited)
        (Unaudited)
        (Audited)
     
           
    Revenues $ 39,949     $ 44,179     $ 10,388     $ 10,886  
    Cost of revenues 30,655     34,970     8,007     8,796  
    Gross profit 9,294     9,209     2,381     2,090  
    Operating costs and expenses:                      
    Research and development 175     158     50     44  
    Sales and marketing 4,394     4,891     1,118     1,278  
    General and administrative 2,113     1,762     656     420  
    Other income, net     (52)         (52)  
    Impairment of intangible assets and Goodwill 1,173         1,173      
    Total operating costs and expenses 7,855     6,759     2,997     1,690  
                           
    Operating income (loss) 1,439     2,450     (616)     400  
    Financial income (expenses), net (139)     (441)     99     31  
    Income before taxes on income 1,300     2,009     (517)     431  
    Income taxes benefits (expenses) 1,000     (4)     1,002     (4)  
    Net income $ 2,300     $ 2,005     $ 485     $ 427  
                           
    Basic net income per share $ 0.40     $ 0.35     $ 0.08     $ 0.07  
    Diluted net income per share $ 0.39     $ 0.34     $ 0.08     $ 0.07  
    Weighted average number of shares used in computing basic net income per share 5,756     5,727     5,776     5,748  
    Weighted average number of shares used in computing diluted net income per share 5,887     5,905     5,975     5,856  
                         
    Number of outstanding shares as of December 31, 2024 and 2023 5,793     5,748     5,793     5,748  
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
           
      December 31, 2024
      December 31, 2023
      (Unaudited)
      (Audited)
    ASSETS      
               
    CURRENT ASSETS:      
    Cash and cash equivalents $ 3,368     $ 2,344  
    Restricted bank deposits 185     217  
    Trade receivables 11,787     12,424  
    Other accounts receivable and prepaid expenses 1,150     963  
    Inventories 7,870     6,070  
               
    Total current assets 24,360     22,018  
               
    LONG-TERM ASSETS 177     196  
               
    PROPERTY AND EQUIPMENT, NET 3,417     3,268  
               
    OPERATING LEASE RIGHT-OF-USE ASSETS, NET 779     1,026  
               
    DEFERRED TAX ASSETS 1,000      
               
    OTHER INTANGIBLE ASSETS, NET 422     1,078  
               
    GOODWILL 4,188     4,895  
               
    Total assets $ 34,343     $ 32,481  
    CONSOLIDATED BALANCE SHEETS
    (U.S. dollars in thousands)
           
      December 31,
    2024
      December 31, 2023
      (Unaudited)   (Audited)
           
                    LIABILITIES AND SHAREHOLDERS’ EQUITY      
           
    CURRENT LIABILITIES:      
    Current maturities of long-term loans $ 439     $ 170  
    Operating lease liabilities, current   176       235  
    Trade payables   6,362       7,710  
    Employees and payroll accruals   1,087       980  
    Deferred revenues   2,003       600  
    Advances net of inventory in progress         137  
    Accrued expenses and other liabilities   598       1,072  
           
    Total current liabilities   10,665       10,904  
           
    LONG-TERM LIABILITIES:      
    Long-term loans, net of current maturities   980       1,150  
    Operating lease liabilities, non-current   576       759  
    Long-term deferred revenues   293       339  
    Accrued severance pay   498       490  
           
    Total long-term liabilities   2,347       2,738  
           
           
    TOTAL SHAREHOLDERS’ EQUITY   21,331       18,839  
           
           
    Total liabilities and shareholders’ equity $ 34,343     $ 32,481  
    CONDENSED CONSOLIDATED EBITDA
    (U.S. dollars in thousands)
           
      Year ended
    December 31,
      Three months ended
    December 31,
      2024
      2023
      2024   2023
                   
    Operating income (loss) $ 1,439     $ 2,450     $ (616 )   $ 400  
    Add:              
    Impairment of Goodwill and other intangible assets   1,173             1,173        
    Amortization of intangible assets   190       168       47       48  
    Stock-based compensation   74       98       11       24  
    Depreciation   370       342       100       90  
    EBITDA $ 3,246     $ 3,058     $ 715     $ 562  
    SEGMENT INFORMATION
    (U.S. dollars in thousands)
                       
      RFID   Supply
    Chain Solutions
      Intelligent 
    Robotics
      Intercompany   Consolidated
      Year ended December 31,
      2024
                       
    Revenues $ 12,877   $ 25,829     1,410   (167)   $ 39,949
    Cost of revenues   9,344     19,763     1,079   (167)     30,019
    Allowance for slow inventory       636           636
    Gross profit   3,533     5,430     331         9,294
                       
    Allocated operating expenses   2,273     3,338     274         5,885
                       
    Impairment of goodwill and intangible assets   984     189             1,173
                       
    Unallocated operating expenses*                   797
                       
    Operating income $ 276   $ 1,903   $ 57         1,439
                       
    Financial expenses and income tax benefits                   861
                       
    Net income                 $ 2,300
      RFID   Supply Chain
    Solutions
      Intelligent
    Robotics

      Intercompany
      Consolidated
      Year ended December 31,
      2023
                       
    Revenues $ 13,713   $ 28,845     1,742   (121)   $ 44,179
    Cost of revenues 10,534   22,830     1,557   (121)   34,800
    Allowance for slow inventory   170       170
    Gross profit 3,179   5,845     185       9,209
                       
    Allocated operating expenses 2,150   3,675     258       6,083
                       
    Unallocated operating expenses*             676
                       
    Operating income (loss) $ 1,029   $ 2,170   $ (73)       2,450
                       
    Financial expenses and tax on income                 (445)
                       
    Net income                 $ 2,005
                       

    *Unallocated operating expenses include costs not specific to a particular segment but are general to the group, such as expenses incurred for insurance of directors and officers, public company fees, legal fees, and other similar corporate costs.

    SEGMENT INFORMATION
    (U.S. dollars in thousands)
                       
      RFID   Supply
    Chain Solutions
      Intelligent Robotics   Intercompany   Consolidated
        Three months ended December 31,
    2024
                       
    Revenues $          3,445   $         6,806   $         171   (34)   $         10,388
    Cost of revenues 2,294   5,170   127   (34)   7,557
    Allowance for slow inventory   450       450
    Gross profit 1,151   1,186   44     2,381
                       
    Allocated operating expenses 605   883   84     1,572
                       
    Impairment of goodwill and intangible assets 984   189         1,173
                       
    Unallocated operating expenses*                 252
                       
    Operating income (loss) $         (438)   $         114   $         (40)       (616)
                       
    Financial income and income tax benefits                 1,101
                       
    Net income                 $         485
      RFID   Supply
    Chain Solutions
      Intelligent Robotics   Intercompany   Consolidated
        Three months ended December 31,
    2023
                       
    Revenues $          3,622   $         7,017   $         279   (32)   $         10,886
    Cost of revenues 2,897   5,797   171   (32)   8,833
    Allowance for slow inventory   (37)       (37)
    Gross profit 725   1,257   108     2,090
                       
    Allocated operating expenses 513   974   72     1,559
                       
    Unallocated operating expenses*                 131
                       
    Operating income $         212   $         283   $         36       400
                       
    Financial income and tax on income                 27
                       
    Net income                 $         427
                       

    *Unallocated operating expenses include costs not specific to a particular segment but are general to the group, such as expenses incurred for insurance of directors and officers, public company fees, legal fees, and other similar corporate costs.

    The MIL Network

  • MIL-OSI: RYVYL Reports Q4 2024 and Full Year 2024 Financial Results and Provides a Business Update

    Source: GlobeNewswire (MIL-OSI)

    – Reiterates 2025 guidance of $80 million to $90 million in revenue and mid-40s percentage gross margin – 

    SAN DIEGO, CA, March 31, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging electronic payment technology for the diverse international markets, reported its financial results for the quarter and year ended December 31, 2024.

    RYVYL Co-founder and CEO Fredi Nisan issued the following business update for investors.

    “We made significant progress in 2024 as our U.S. operations stabilized over the past several quarters, while our International segment maintained a strong growth trajectory. International revenue for 2024 reached $37.8 million, representing a remarkable 124% increase compared to 2023. With momentum building in both the U.S. and international markets, we are actively onboarding new clients across multiple jurisdictions, further strengthening our market presence and positioning us for a high-growth year in 2025.

    Our global pipeline is robust, and we are rapidly gaining traction with our Payments-as-a-Service offering from RYVYL EU. We are strategically positioned to capitalize on substantial opportunities as we continue to expand our market reach.

    “We are building on our core competitive strengths and foundation, and I’m excited to offer a summary of our progress and reiterate our 2025 guidance of $80 million to $90 million in revenue and mid-40s percentage gross margin.

    Business Overview and Competitive Position

    Our competitive strengths, unique value proposition, and strategic focus are what truly set us apart in the fintech space. We’re especially optimistic about our position in the market, as the global shift toward credit cards, mobile wallets, and real-time payment platforms continues to accelerate. Our solutions are purpose-built for this evolution, leveraging our longstanding investment in proprietary payment and banking technologies to stay ahead of the curve.

    As fintech innovators are rapidly disrupting the landscape with agile, cost-effective models, RYVYL is strongly positioned to lead the way. We are nimble, innovative, and well-prepared to capitalize on this favorable environment, driving forward as a leader in the next era of digital payments.

    We are committed to continuously evolving our product portfolio to anticipate and meet the ever-changing needs of businesses worldwide. At the heart of this effort is the enhancement of our dual-sided payment platform, which seamlessly supports both acquiring and disbursement services. This platform is purpose-built to accommodate emerging use cases in acquiring, disbursements, and embedded finance, delivering comprehensive, end-to-end financial solutions that empower our clients to stay ahead in a dynamic market.

    Technological innovation is transforming how consumers engage with their finances as multiple payment rails converge to offer greater flexibility and choice. RYVYL is at the forefront of this evolution with our next-generation payment technology. By integrating various payment systems and methods into a single, cohesive digital platform, we empower consumers and businesses to access multiple options—such as bank transfers, mobile payments, digital wallets, and more—all in one place. This innovative approach allows users to select the payment method that best meets their needs at any given moment, positioning RYVYL as a pioneer in the rapidly evolving financial landscape.

    We target high-margin segments, focusing on merchants and retail clients who are often overlooked by traditional processors or left out of the existing financial ecosystem. Currently, we serve nearly 1,500 business customers across 50 industries, leveraging a diversified foundation to establish ourselves as a global innovator in payment and banking solutions. By offering advanced banking and payment technologies, we’re able to capture 40% gross margins in these high-potential areas. With new offerings like Payments-as-a-Service (PaaS) on the horizon and greater operational efficiencies through scale, we are well-positioned to continue driving margin expansion.

    Our value proposition is distinct and forward-thinking. We deliver comprehensive banking and processing solutions that emphasize transparency, speed, and tailored processing capabilities designed for specific industries. Our customized, turnkey solutions are powered by cutting-edge technologies, such as AI, that set us apart. We leverage these advanced capabilities and tools to streamline operations, reduce errors, and enhance scalability, while AI-driven insights optimize decision-making and efficiency, creating a transformative approach to financial services.

    Compliance and onboarding agility are fundamental to our business model—serving as key competitive advantages in this rapidly evolving landscape. As regulatory scrutiny and antitrust initiatives reshape the payment ecosystem, legacy networks are being challenged, creating new opportunities for innovative players. While real-time systems like FedNow are making strides, credit cards still dominate, and adoption remains gradual. Meanwhile, advancements in AI are transforming fraud prevention, transaction security, and seamless banking integration. RYVYL is strategically positioned to navigate and capitalize on these changes, leveraging our expertise to stay ahead in this dynamic environment.

    We’re driven by our momentum and confident in our path forward. Recent wins, increased pipeline visibility, and an expanding presence across verticals are propelling us to new heights. We’re diversifying revenue streams and building stronger client relationships, positioning ourselves to meet the complex and evolving needs of our customers. Market demand remains robust, and we’re well-prepared to capitalize on opportunities, further solidifying our position as a frontrunner in the sector.

    Q4 2024 and Recent Highlights

    During Q4 and recently, we:

    • Completed two European software integrations in October, with these two European partners launching on the new platforms.
    • Expanded our global reach by launching Visa Direct services in more geographies, increasing our footprint to a total of 16 countries.
    • Launched co-branded debit cards in the EU.
    • Went live with our next-generation Charge Savvy (POS).
    • Implemented NEMS Core payments in the U.S.

    Balance Sheet Restructuring

    We completed key steps in our strategy to improve our capital structure, greatly reducing potential dilution and positioning us for profitable growth supported by increased financial flexibility.

    In January 2025, we:

    • Executed a Preferred Stock Repurchase and Note Repayment Agreement and paid the initial tranche of $13.0 million to a securityholder that:
      • Redeemed of all shares of the Company’s Series B Convertible Preferred Stock for which the liquidation value was $53.1 million; and
      • Partially repaid an 8% Senior Convertible Note, reducing the outstanding principal from $18.3 million to $4.0 million, which is due on or before April 30, 2025.
    • Entered into an agreement with a financing source for $15.0 million to fund the Preferred Stock Repurchase and Note Repayment Agreement transaction that was structured as a pre-funded asset sale with a 90-day closing period, which ends on April 23, 2025 and may be extended an additional 30 days to May 23, 2025, if the Company pays $500,000 for such extension. Shares in the Company’s RYVYL EU subsidiary were placed in escrow during the closing period. Although there are no guarantees, the Company intends to terminate the asset sale within the closing period by paying $16.5 million in consideration of such termination.

    We are pursuing a range of funding alternatives to raise capital to terminate the asset sale and anticipate completing this step in our financial strategy to further deleverage the balance sheet in Q2 2025. The Company has recently filed an S-1 registration statement to raise up to $24 million, including the overallotment, and intends to explore all fundraising options, including term debt, equity or some combination to fund the termination payment of $16.5 million.

    Payments-as-a-Service (PaaS)

    In March 2025, RYVYL EU landed two new Payments-as-a-Service (PaaS) contracts, which are anticipated to bring in close to one million new customer accounts over the next year. These partnerships mark a major step forward in expanding our presence across Europe and boosting our long-term growth potential. These partnerships are a strong endorsement of our ability to support fast-growing financial platforms and assist with their international growth. Our advanced payment technology enables quick and compliant onboarding, paired with the scalability today’s digital banks demand.

    • The first contract is with a prominent global money service provider and includes the provision of both virtual and physical payment cards through RYVYL’s platform and mobile application. So far, 1,000 accounts have already been activated, and an additional 50,000 are expected to follow in 2025.
    • The second agreement, with one of the world’s largest fully digital banks, is expected to add 900,000 new customer accounts within 12 months, beginning in Q2 2025. API integrations and system testing are already underway, with the onboarding phase set to launch in the near future.

    “We are poised for a strong growth year in 2025, with multiple initiative underway to leverage our technology and well-established customer infrastructure and market reputation, and I look forward to updating you on our progress,” concluded Nisan.

    Financial Summary for the Fourth Quarter Ended December 31, 2024

    • Revenue: Fourth quarter 2024 revenue totaled $14.1 million, driven largely by $11.4 million from RYVYL EU. This compares to $22.2 million in revenue during the same period in 2023, of which $5.6 million was generated by RYVYL EU.
    • Processing Volume: In the fourth quarter of 2024, processing volume rose 38.7% to $1.3 billion, compared to $0.9 billion in the fourth quarter of 2023. International operations accounted for $1.1 billion of the fourth quarter volume, a significant increase from the $591 million volume in the fourth quarter of 2023, fueled by strong growth across multiple verticals, particularly through our Independent Sales Organizations (“ISO”) and partnership network, as well as expanded offerings in global payments processing and banking-as-a-service. In North America, processing volume totaled $176 million, down from $356 million in the fourth quarter of 2023.
    • Cost of Revenue: Cost of revenue was $8.7 million in the fourth quarter of 2024, down from $14.5 million in the fourth quarter of 2023. This decrease was primarily due to reduced processing activity in North America, partially offset by higher processing volumes in the International segment.
    • Gross Margin: Gross margin for the fourth quarter of 2024 was 38.2%, up from 35.0% in the fourth quarter of 2023, reflecting higher margin product mix.
    • Operating Expenses: Operating expenses for the fourth quarter of 2024 were $11.4 million, compared to $10.6 million in the fourth quarter of 2023. This increase was primarily driven by a $3.0 million impairment charge in the fourth quarter of 2024 against intangible assets held in North America, partially offset by lower other operating expenses compared to the fourth quarter 2023.
    • Other Expense, net: Other expense, net, decreased 97% to $0.9 million in the fourth quarter of 2024, down from $27.0 million in the fourth quarter of 2023. The net decrease was primarily driven by the multiple restructurings of the Company’s convertible note during the fourth of 2023, with no comparable activity during the fourth quarter of 2024.
    • Adjusted EBITDA: Adjusted EBITDA for the fourth quarter of 2024 was negative $1.7 million, compared to a positive $0.1 million in the fourth quarter of 2023.

    Financial Summary Full Year Ended December 31, 2024

    • Revenue: 2024 revenue was $56.0 million, driven largely by $37.8 million from RYVYL EU. This compares to $65.9 million during the same period in 2023, of which $16.9 million was generated by RYVYL EU.
    • Cost of Revenue: Cost of revenue was $33.6 million, down $6.6 million, from $40.2 million during 2023, primarily due to reduced processing activity in North America, partially offset by higher processing volumes in the International segment.
    • Gross Margin: Gross margin was 40.0%, up from 39.0% in 2023.
    • Operating Expenses: 2024 operating expenses were $43.3 million compared to $38.0 million in 2023, due primarily to impairment charges recorded during 2024 of $6.7 million and $3.0 million for goodwill and intangible assets held in North America, respectively, with no comparable charges in 2023, partially offset by lower research and development expenses and professional fees.
    • Other Expense, net: Other expense, net, decreased to $4.8 million in 2024, down from $40.5 million in 2023. This decrease was mainly driven by a $28.8 million net decrease in other expenses associated with the Company’s multiple restructurings of its convertible note during 2023 with no comparable restructurings during 2024.
    • Adjusted EBITDA: Adjusted EBITDA for 2024 was a loss of $5.7 million, compared to a loss of $3.9 million in 2023.
    • Cash Balances: Cash and restricted cash as of December 31, 2024, was $92.0 million, with $89.4 million being restricted cash.

    The foregoing guidance is based on the Company’s continuation of the business, as currently conducted. On January 24, 2025, the Company entered into an agreement with a financing source that was structured as a pre-funded asset sale with a 90-day closing period, which ends on April 23, 2025 and may be extended an additional 30 days to May 23, 2025, if the Company pays $500,000 for such extension. Shares in the Company’s RYVYL EU subsidiary were placed in escrow during the closing period. Although there are no guarantees, the Company intends to terminate the asset sale within the closing period by paying $16.5 million in consideration of such termination. The Company’s financial guidance for 2025 is based on fully retaining its RYVYL EU subsidiary.

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding anticipated revenues and margins, timely payment of the second tranche, the benefit to stockholders from the repayment of the Note and repurchase of the Preferred Stock, and the timing and expectation of revenues from the license described herein and are charactered by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee’s ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries – particularly industries with heightened cash reporting obligations and restrictions – as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These statements are also subject to any damages the Company could suffer as the result of previously announced litigation or actions of any governmental agencies. These and other risk factors affecting the Company are discussed in detail in the Company’s periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    RYVYL INC.
    CONSOLIDATED BALANCE SHEETS
    (In thousands, except share and per share data)

        December 31,  
        2024     2023  
    ASSETS            
    Current Assets:            
    Cash   $ 2,599     $ 12,180  
    Restricted cash     89,432       61,138  
    Accounts receivable, net of allowance for credit losses of $206 and $23, respectively     1,076       859  
    Cash due from gateways, net of allowance of $89 and $2,636, respectively     88       12,834  
    Prepaid and other current assets     2,189       2,854  
    Total current assets     95,384       89,865  
                     
    Non-current Assets:                
    Property and equipment, net     165       306  
    Goodwill     18,856       26,753  
    Intangible assets, net     1,802       5,059  
    Operating lease right-of-use assets, net     3,425       4,279  
    Other assets     2,644       2,403  
    Total non-current assets     26,892       38,800  
    Total assets   $ 122,276     $ 128,665  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)                
                     
    Current Liabilities:                
    Accounts payable   $ 3,515     $ 1,819  
    Accrued liabilities     8,146       5,755  
    Payment processing liabilities, net     90,802       76,772  
    Current portion of operating lease liabilities     839       692  
    Other current liabilities     240       504  
    Total current liabilities     103,542       85,542  
    Long term debt, net of debt discount of $3,906 and $24,349, respectively     17,363       15,912  
    Operating lease liabilities, less current portion     2,863       3,720  
    Total liabilities     123,768       105,174  
                     
    Stockholders’ Equity/(Deficit):                
    Preferred stock, Series B, par value $0.01, 5,000,000 shares authorized; 53,499 and 55,000 shares issued and outstanding at December 31, 2024 and 2023, respectively     1       1  
    Common stock, par value $0.001, 100,000,000 shares authorized; 8,032,318 and 5,996,948 shares issued and outstanding at December 31, 2024 and 2023, respectively     8       6  
    Additional paid-in capital     179,157       175,664  
    Accumulated other comprehensive income     (1,251 )     401  
    Accumulated deficit     (179,407 )     (152,581 )
    Total stockholders’ (deficit)/equity     (1,492 )     23,491  
                     
    Total liabilities and stockholder’s (deficit)/equity   $ 122,276     $ 128,665  

    RYVYL INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
    (In thousands, except share and par value data)

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024     2023     2024     2023  
                                     
    Revenue   $ 14,127     $ 22,249     $ 55,998     $ 65,869  
    Cost of revenue     8,730       14,455       33,572       40,157  
    Gross profit     5,397       7,794       22,426       25,712  
                                     
    Operating expenses:                                
    Advertising and marketing     20       (73 )     95       80  
    Research and development     821       1,323       3,848       5,757  
    General and administrative     1,826       1,968       6,933       8,678  
    Payroll and payroll taxes     4,167       3,785       13,836       12,017  
    Professional fees     1,016       1,425       4,372       7,076  
    Stock compensation expense     83       1,544       624       1,853  
    Depreciation and amortization     438       654       2,264       2,553  
    Impairment of goodwill                 6,675        
    Impairment of intangible assets     3,028             3,028        
    Restructuring charges                 1,636        
    Total operating expenses     11,399       10,626       43,311       38,014  
                                     
    Loss from operations     (6,002 )     (2,832 )     (20,885 )     (12,302 )
                                     
    Other income (expense):                                
    Interest expense     (400 )     (30 )     (862 )     (3,340 )
    Accretion of debt discount     (280 )     (3,508 )     (2,258 )     (13,134 )
    Changes in fair value of derivative liability           (35 )     14       6,544  
    Derecognition expense on conversion of convertible debt     (531 )     (23,516 )     (600 )     (25,035 )
    Legal settlement expense     (467 )           (2,064 )     (4,142 )
    Gain on sale of property and equipment           1,069             1,069  
    Other income (expense)     754       (999 )     970       (2,472 )
    Total other expense, net     (924 )     (27,020 )     (4,800 )     (40,510 )
                                     
    Loss before provision for income taxes     (6,926 )     (29,852 )     (25,685 )     (52,812 )
    Income tax provision     (75 )     151       1,140       289  
    Net loss   $ (6,851 )   $ (30,003 )   $ (26,825 )   $ (53,101 )
                                     
    Comprehensive income statement:                                
    Net loss     (6,851 )     (30,003 )     (26,825 )     (53,101 )
    Foreign currency translation (loss) gain     (2,371 )     433       (1,652     44  
    Total comprehensive loss   $ (9,222 )   $ (29,570 )   $ (28,477 )   $ (53,057 )
                                     
    Net loss per share:                                
    Basic and diluted   $ (0.91 )   $ (5.43 )   $ (4.01 )   $ (10.11 )
    Weighted average number of common shares outstanding:                                
    Basic and diluted     7,543,480       5,525,608       6,694,165       5,251,852  

    RYVYL INC.
    CONSOLIDATED STATEMENT OF CASH FLOWS
    (In thousands)

        Year Ended December 31,  
        2024     2023  
    Cash flows from operating activities:            
    Net loss   $ (26,825 )   $ (53,101 )
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Depreciation and amortization expense     2,264       2,553  
    Noncash lease expense     143       350  
    Stock compensation expense     624       1,853  
    Restricted common stock issued for compensation     182        
    Accretion of debt discount     2,258       13,134  
    Derecognition expense on conversion of convertible debt     600       25,035  
    Changes in fair value of derivative liability     (14 )     (6,544 )
    Gain on sale of property and equipment           (1,069 )
    Impairment of goodwill     6,675        
    Impairment of intangible assets     3,028        
    Restructuring charges     1,636        
    Changes in assets and liabilities:                
    Accounts receivable, net     (155 )     297  
    Prepaid and other current assets     664       6,568  
    Cash due from gateways, net     12,684       (5,407 )
    Other assets     (160 )     (1,183 )
    Accounts payable     1,695       189  
    Accrued and other current liabilities     1,497       2,080  
    Accrued interest     366       546  
    Payment processing liabilities, net     14,029       47,860  
    Net cash provided by operating activities     21,191       33,161  
                     
    Cash flows from investing activities:                
    Purchases of property and equipment     (47 )     (108 )
    Logicquest Technology acquisition           (225 )
    Proceeds from sale of property and equipment           2,620  
    Capitalized software development costs     (1,647 )      
    Purchase of intangibles     (114 )      
    Net cash (used in) provided by investing activities     (1,808 )     2,287  
                     
    Cash flows from financing activities:                
    Treasury stock purchases           7  
    Repayments of convertible debt           (3,000 )
    Repayments on long-term debt     (12 )     (15 )
    Tax withholdings related to net settlement of equity awards     (229 )      
    Net cash used in financing activities     (241 )     (3,008 )
                     
    Effect of exchange rates in cash and restricted cash     (430 )     44  
    Net increase (decrease) in cash and restricted cash     18,712       32,484  
                     
    Cash and restricted cash – beginning of period     73,318       40,834  
                     
    Cash and restricted cash – end of period   $ 92,030     $ 73,318  
                     
    Supplemental disclosures of cash flow information                
    Cash paid during the period for:                
    Interest   $ 300     $ 2,709  
    Income taxes   $ 848     $ 199  
                     
    Non-cash financing and investing activities:                
    Convertible debt conversion to preferred stock   $ 900     $ 64,600  
    Convertible debt conversion to common stock   $     $ 1,650  
    Interest accrual from convertible debt converted to preferred stock   $     $ 1,703  
    Interest accrual from convertible debt converted to common stock   $     $ 4  

    Use of Non-GAAP Financial Information

    Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) is a non-GAAP measure that represents our net loss before interest expense, amortization of debt discount, income tax expense, depreciation and amortization, changes in the fair value of derivative liabilities, losses on the extinguishment and derecognition expenses on the conversion of convertible debt, non-cash stock-based compensation expense, acquisition-related expense, non-recurring provisions for credit losses on legacy matters, accounting fees related to the restatement of prior period financial statements, non-recurring costs related to the spin-off of a subsidiary, and legal costs and settlement fees incurred in connection with non-ordinary course litigation and other disputes.

    We exclude these items in calculating Adjusted EBITDA because we believe that the exclusion of these items will provide for more meaningful information about our financial performance, and do not consider the excluded items to be part of our ongoing results of operations. Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are: (a) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (b) Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; (c) Adjusted EBITDA does not reflect the potentially dilutive impact of equity-based compensation; (d) Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to us; and (e) other companies, including companies in our industry, may calculate Adjusted EBITDA or similarly titled measures differently, which reduces its usefulness as a comparative measure.

    Because of these and other limitations, you should consider Adjusted EBITDA alongside our other GAAP-based financial performance measures, net income (loss) and our other GAAP financial results. The following table presents a reconciliation of Adjusted EBITDA from net loss, the most directly comparable GAAP measure, for the periods indicated:

    Reconciliation of Net Loss attributable to RYVYL, Inc., to Adjusted EBITDA for the
    Three and Twelve Months Ended December 31, 2024 and 2023
    (In thousands, except share and per share data)

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024     2023     2024     2023  
                                     
    Net loss   $ (6,851 )   $ (30,003 )   $ (26,825 )   $ (53,101 )
    Interest expense     400       30       862       3,340  
    Accretion of debt discount     280       3,508       2,259       13,134  
    Income tax provision     (75 )     151       1,140       289  
    Depreciation and amortization     438       654       2,264       2,553  
     EBITDA     (5,807 )     (25,660 )     (20,301 )     (33,785 )
                                     
    Other non-cash adjustments:                                
    Changes in fair value of derivative liability           35       (14 )     (6,544 )
    Derecognition expense on conversion of convertible debt     531       23,516       600       25,035  
    Stock compensation expense     83       1,544       624       1,853  
    Impairment of goodwill                 6,675        
    Impairment of intangible assets     3,028             3,028        
    Restructuring charges                 1,636        
                                     
    Special items:                                
    Non-recurring legal settlements and ongoing matters and related legal fees     467             2,064       5,308  
    Carryover effects of financial statement restatements in prior periods           691             1,913  
    Non-recurring provision for credit losses on legacy matters                       1,994  
    Accounting fees related to the restatement of prior period financial statements                       237  
    Non-recurring impairment of right of use asset                       100  
    Non-recurring costs of spin-off                       29  
    Adjusted EBITDA   $ (1,699 )   $ 126     $ (5,688 )   $ (3,860 )
                                     
    Loss from operations   $ (6,002 )   $ (2,832 )   $ (20,885 )   $ (12,302 )

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