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Category: Entertainment

  • MIL-OSI United Kingdom: City’s biggest summer event buoyed by new wave of sponsors – including the University of Aberdeen The Tall Ships Races Aberdeen 2025 has announced a significant wave of new sponsors, joining previously confirmed partners in supporting this summer’s must-attend event.

    Source: University of Aberdeen

    The Tall Ships Races Aberdeen 2025 has announced a significant wave of new sponsors, joining previously confirmed partners in supporting this summer’s must-attend event.
    The latest businesses and organisations to sign up include the University as well as Boskalis, Clarksons Port Services, Dales Marine, DC Thomson, Glen Garioch, Greenwell Equipment, Sea-Cargo, Shell, Streamline Shipping Group, Targe Towing and TotalEnergies.
    Professor Peter Edwards, Vice-Principal Regional Engagement at the University, said: “World renowned, international in its approach, collaborative by nature and always looking to the horizon –  we share many of the traits which make the Tall Ships Races such a special and unforgettable experience.
    “A community of more than 130 nationalities, we are also more than just an ancient university with a deep connection to the region’s maritime history. We are an active champion for our local community and are delighted to be supporting the 2025 Races and showcasing the best of the North-east of Scotland.”
    The festival – billed as Europe’s largest free family event – takes place between 19-22 July and nearly 50 Tall Ships have already signed up from South America, the Middle East and Europe which will create a dazzling parade of sail.
    The Tall Ships Aberdeen ‘Quayside Concerts’ in Peterson Seabase – a freight yard being transformed into one of Scotland’s biggest outdoor music venues – will feature three nights of ticketed events with major headline acts, and a free gig on Sunday night featuring renowned Scottish headliners.
    This is alongside an exciting free events programme, featuring renowned Scottish headliners on the Sunday night and a vibrant schedule of daytime, family-friendly entertainment that is expected to draw an estimated 400,000 visits to Aberdeen.

    We are an active champion for our local community and are delighted to be supporting the 2025 Races and showcasing the best of the North-east of Scotland.” Professor Peter Edwards, Vice-Principal Regional Engagement at the University

    Councillor Martin Greig, Chair of Aberdeen’s Tall Ships 2025 organising committee, said: “The Tall Ships experience will have a massive, positive impact on Aberdeen and the region. The importance of the Tall Ships is reflected in the support that has been given by our generous sponsors.
    “I am absolutely delighted that high-profile partners have agreed to contribute so positively to make the event a success. This is the biggest event that Aberdeen, and its region, has seen in almost 30 years. The support from these distinguished businesses is truly appreciated.” 
    The new supporters join previously announced sponsors ASCO, Aspect: The Strategic Communications Experts, Balmoral Group, Equinor, Global Maritime, John Lawrie Metals, OPITO, Peterson Energy Logistics and Serica Energy.
    Aberdeen is the only UK host port for the Tall Ships Races this summer and – based on the experience of previous host ports – the event stands to inject tens of millions of pounds into the city and wider economy.
    Adrian Watson, chief executive of Aberdeen Inspired, said: “Everyone involved in the Tall Ships Races Aberdeen is delighted by the wave of support shown by businesses and organisations getting on board as sponsors. We can’t thank them enough and I would urge others to become sponsors, too.
    “Their contribution is invaluable in making the spectacular event in July the best it can be, while leaving a lasting legacy for the city’s economy and its reputation for hosting large-scale events that can attract hundreds of thousands of visits.”
    The Tall Ships Races Aberdeen 2025 is supported through EventScotland’s International Events Funding Programme.

    MIL OSI United Kingdom –

    February 28, 2025
  • MIL-OSI United Kingdom: Family Hub hosts youth takeover day

    Source: City of Coventry

    Young people took over one of the city’s Family Hubs for a day, for a range of services designed to bring people together as a community.

    The Family Hub and Community Initiative to Reduce Violence (CIRV) Youth Takeover event was held at the Moat Family Hub, and saw a total of 450 people attend, including 266 young people aged between eight and 18, parents, carers and representatives from local businesses, organisations and partners.

    The event enabled many teams to

    • Engage with young participants in meaningful conversations and create an environment where their voices are valued.
    • Give young people a safe space to express themselves during half term and access activities which are constructive.
    • Link young people and youth services together to promote activities they can be regularly involved in to further develop.
    • Highlight all the great work that’s happening in Coventry for young people.

    The day also included workshops and over 30 activities, including music, multisports, virtual reality, arts and crafts, food and much more.

    The main aims were to increase awareness of the services available at the Family Hubs, to bring young people together and share information on a range of other services and organisations in the city that offer support.

    Cllr Patricia Seaman, Cabinet Member for Children and Young People, said: “The Youth Takeover event gave our young people the chance to voice their opinions, share their experiences and to see just what is there for them in our city.

    “It was a great day, with many able to try some new experiences and to meet new people, whether that was building friendships with other young people, or talking to organisations like the Council and Police and having their voices heard.

    “It was a part of our work through Child Friendly Cov to deliver on our pledge to ensure young people be and feel loved, valued, safe, healthy and have opportunities.

    “Thanks to everyone involved for making it such a success and giving our children and young people such a memorable day.”

    The range of interactive workshops covered topics such as mental health awareness, coping strategies, and skill-building activities, and young people also took part in a knife crime awareness chat with an expert from Precious Lives.

    Comments included:

    “Today was amazing, it’s fantastic to see so many young people and youth services in one space with smiles on their faces. Today has been great for us to share our opportunities to the young people.” Youth Service.

    “Thank you so much for today, all of my kids loved it. They can’t stop speaking about how much fun they have had and when the next one will be. Thank you to you and all your team for providing such a fun and engaging experience.” A parent.

    Other “Youth takeover” events are now being planned across the city – watch out for details coming soon.

    Learn more about Family Hub Offer. 

    MIL OSI United Kingdom –

    February 28, 2025
  • MIL-OSI Global: Gene Hackman will be remembered as the Hollywood actor’s actor

    Source: The Conversation – Global Perspectives – By Will Jeffery, Sessional Academic, Discipline of Film Studies, University of Sydney

    Gene Hackman, an acting titan of 1970s and ‘80s Hollywood with more than 80 screen credits to his name, has died at 95. He was found dead in his home with his wife, pianist Betsy Arakawa, and his dog.

    Hackman had a rugged, dominating and commanding presence on screen, known for his emotionally honest, raw and fierce performances. Always the tough guy, never the romantic lead, off camera he was shy and enjoyed the quiet life.

    I first saw Hackman as a child in The Poseidon Adventure (1972). My dad put the film on for the upside-down ocean liner disaster sequences, but it was Hackman who left a lasting impression. I vividly remember being so moved by his final speech berating God for deserting the ship’s passengers and crew while he hangs from a pressure valve door over flames.

    There is no actor who comes close to conveying authority with such humanity and reserve.

    He was often referred to as the actor’s actor and mentioned by Hollywood A-listers such as Kevin Costner as the best actor they’ve ever worked with. Clint Eastwood, once Hackman retired, described him as “too good not to be performing”.

    Hackman will leave a legacy to be studied and appreciated for years to come.

    Finding a foot in show business

    Born in San Bernardino, California, on January 30 1930, Hackman’s family moved to Danville, Illinois, when he was three. Hackman’s father left when he was 13, which he described to James Lipton on Inside the Actors Studio as his father “driving by with a casual wave goodbye”.

    Hackman joked to Lipton the departure of his father at an early age made him a better actor.

    Hackman left Danville at the age of 16 to join the marines, where he spent roughly four years. He was a rebellious child, but as Peter Shelley detailed in his biography of Hackman, the marine corps was the first time he gave in to authority.

    After the marine corps, Hackman moved to New York wanting to become an actor, telling people he was inspired by tough guy James “Jimmy” Cagney.

    In New York, Hackman struggled making a living as an artist while waiting for his breakthrough (his uncle told him to give up and get an honest job). Moving to California, he became friends early on with Dustin Hoffman (they finally appeared opposite each other in Hackman’s penultimate film, 2003’s Runaway Jury).

    After struggling for years, Hackman landed his first credited screen role in 1964’s Lilith at the age of 34. He played a small part opposite upcoming star Warren Beatty.

    As Hackman recounted to Lipton, Beatty told director Arthur Penn how great Hackman was in a scene they did together. That landed Hackman his breakthrough role playing Buck Barrow opposite Beatty and Faye Dunaway in the 1967 hit Bonnie and Clyde, earning him an Oscar nomination for best supporting actor.

    Breaking through in the 1970s

    It wasn’t until the 1970s that Hackman began his leading role career, starring in The French Connection (1971) as the unforgettable hard-boiled New York detective Jimmy “Popeye” Doyle. This role earned him his first Academy Award, for best actor.

    He was to wait more than 20 years for his second and final Academy Award, for playing the ruthless Little Bill Daggett opposite Clint Eastwood in Unforgiven (1992).

    Throughout the 1970s, Hackman was gaining huge popularity on screen, sharing records with the likes of Robert Redford and Harrison Ford as the highest grossing stars at the box office.

    There are too many great Hackman performances to mention, but my favourites are Unforgiven, The French Connection, The Poseidon Adventure, The Conversation (1974), Hoosiers (1986), Mississippi Burning (1988) and The Royal Tenenbaums (2001).

    The French Connection’s director, William Friedkin, said in an interview Hackman was anti-authority and anti-racism because of his upbringing in an area known for its large Ku Klux Klan presence, and his absent father.

    Hackman almost pulled out of The French Connection one week into shooting because he didn’t like “beating on people” for a four-month shoot. He told Friedkin “I don’t think I can do this,” but Friedkin refused to let him go.

    Hackman recalled he was eternally grateful Friedkin didn’t, as it was “the start of [his] career”.

    Hackman said his character Popeye Doyle was a “bigot, an antisemitic, and whatever else you wanted to call him”, and he famously struggled to say the N-word in one key scene. He initially protested the line but eventually went with it, believing “that’s who the guy is […] you couldn’t really whitewash him”.

    Hackman often played the character who had the greatest authority on the surface but slipped up, whether he was playing the hero or the villain. Even for a role such as Reverend Scott in The Poseidon Adventure, in which Hackman played a self-righteous preacher onboard the capsized SS Poseidon, he questions his religion as he leads the entire band of escapees to safety.

    A life after acting

    Hackman retired from acting in 2004 at age 74.

    There are many stories about why he retired, like, as Shelley writes, not wanting to play Hollywood “grandfathers” and his “heart wasn’t in shape”, but his life after acting gives a strong hint: he had other interests.

    Over the past 20 years, Hackman wrote three historical fiction novels, was a keen painter, and enjoyed exercise such as cycling. Married to classical pianist Arakawa from 1991 until their death, they lived in Santa Fe, New Mexico, where he designed his own home (yes, he also loved architecture!).

    A man of many talents who played a kaleidoscopic range of authoritative roles, Hackman will almost certainly be remembered mainly for his tough-guy performance in The French Connection – though many will also remember him as the Hollywood actor’s actor.

    Will Jeffery does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Gene Hackman will be remembered as the Hollywood actor’s actor – https://theconversation.com/gene-hackman-will-be-remembered-as-the-hollywood-actors-actor-233109

    MIL OSI – Global Reports –

    February 28, 2025
  • MIL-OSI United Kingdom: AAIB Report: ATR 72-500 (72-212A), LY-JUP

    Source: United Kingdom – Executive Government & Departments

    News story

    AAIB Report: ATR 72-500 (72-212A), LY-JUP

    ATR 72-500 (LY-JUP), continued approach in fog, Guernsey Airport, 12 August 2024

    Airport CCTV images looking south over the Runway 27 touchdown zone (times are BST)

    On approach to Runway 27 at Guernsey Airport, the crew of LY-JUP continued to descend below the approach ban altitude despite the reported Runway Visual Range (RVR) being below that required. After passing through approach minima, and at around 70 ft agl, a go-around was initiated. After the power levers were advanced the aircraft remained between 61 and 78 ft agl for 15 seconds before a climb was established. The flight diverted to Southampton Airport where it landed without further incident.

    Although both crew members were aware of the approach ban, it was not discussed before or during the approach. As the aircraft passed the decision altitude for the approach, there was confusion and miscommunication between the crew which resulted in the aircraft remaining more or less level with the gear down.

    The operator has taken a number of safety actions to improve the selection and training of crews as well as to introduce a Flight Data Monitoring (FDM) programme.

    Read the report.

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    Updates to this page

    Published 27 February 2025

    MIL OSI United Kingdom –

    February 27, 2025
  • MIL-OSI United Kingdom: Perth and Kinross to commemorate 80th anniversary of VE Day

    Source: Scotland – City of Perth

    Victory in Europe Day took place on May 8 1945 when the Allies accepted the unconditional surrender of Germany.

    To mark the 80th anniversary of the end of World War II in Europe, a series of events is planned across Perth and Kinross.

    On the morning of May 8, wreaths will be laid at the Veterans’ Memorial on St John Street in Perth and at The 51st Highland Division Memorial at the North Inch.

    That night, a series of VE Day 80 beacons will be lit at seven locations across Perth and Kinross – Perth, Blairgowrie, Auchterarder, Crieff, Kinross, Pitlochry and Aberfeldy – to commemorate the end of the Second World War in Europe.

    On Sunday May 11, there will be a commemorative church service in St John’s Church, Perth. There will also be a display of military vehicles, live music from pipe and brass bands, and other street entertainment, on the streets outside the church.

    Provost of Perth and Kinross Xander McDade said: “Commemorating the 80th anniversary of VE Day allows us to honour the immense sacrifices made by millions of people during World War II.

    “This allows us to reflect on our shared history, educate younger generations about the importance of peace, and express our gratitude to those who fought for our freedom.”

    Bailie Chris Ahern, Armed Forces and Veterans Champion for Perth and Kinross Council, said: “This will be a historic occasion and a chance for people across Perth and Kinross to remember the sacrifices made during the Second World War.”

    Stephen Leckie, Lord-Lieutenant of Perth and Kinross, added:“So many people from Perth and Kinross gave their lives in the defeat of the Nazis and their allies in Europe. This is such an important anniversary, and the Lieutenancy is delighted to be working with Perth and Kinross Council and The Black Watch to lay on a series of events on the 8th and 11th of May for the veterans, those others who lived through the second world war, as well as the serving armed forces, cadets and general public. 

    “We encourage you to come along and join us.”

    MIL OSI United Kingdom –

    February 27, 2025
  • MIL-OSI: MEXC Launches Campaign for ENA & USDe with $1,000,000 Rewards

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 27, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, announced the listing of the Ethena USDe (USDE) in the Innovation Zone and open USDE-related trading pairs. To celebrate the launch, MEXC is introducing USDe & ENA-related events for all users with a $1,000,000 reward pool.

    MEXC Backs Decentralized Stable Assets with USDe Listing

    Since their inception, stablecoins have played an important role in the crypto ecosystem. However, many face limitations due to dependence on centralized custodians and traditional banking infrastructure. USDe, issued by the Ethereum-based DeFi platform Ethena (ENA), addresses these challenges. It is a fully decentralized synthetic USD asset that uses delta-neutral hedging to maintain a soft peg to the U.S. dollar without the need for overcollateralization or central custody. Unlike typical stablecoins, USDe employs smart contracts to automatically open and close perpetual short positions, ensuring scalability and stability.

    As a global leader in digital asset trading, MEXC’s listing of USDe and USDE-related trading pairs highlights the growing importance of decentralized stable assets in the evolving DeFi landscape. This initiative reaffirms MEXC’s commitment to supporting innovative blockchain solutions and promoting decentralized finance. By providing strong liquidity and broad market coverage, MEXC creates the ideal environment for projects like USDe to thrive and unlock new possibilities in the digital economy. MEXC also offers users the chance to participate in a $1,000,000 reward pool through four major activities. This initiative enables users to engage with cutting-edge DeFi projects, explore innovative stable assets like USDe, and actively contribute to the growth of the broader DeFi ecosystem.

    Celebrate the ENA & USDe Campaign with a $1,000,000 Prize Pool

    MEXC, known for quickly listing trending tokens, expands its offerings with USDe (USDE). The USDE/USDT trading market officially launched in the Innovation Zone on February 27, 2025, at 10:00 (UTC), followed by ENA/USDE, BTC/USDE, ETH/USDE, SOL/USDE, and XRP/USDE at 11:00 (UTC).
    To celebrate this significant listing, MEXC has designed a series of events that cater to both new and experienced traders. Users can enjoy zero-fee trading across select USDE and ENA trading pairs, creating an optimal environment for market participants to explore these assets. USDE holders can earn attractive yields of up to 10% APR simply by holding the token, with no additional staking or locking required. Meanwhile, new users joining the ENA staking program can enjoy up to 400% APR, further maximizing their earnings. The platform is also introducing exclusive staking pools, with particularly appealing rates for new users.

    Additionally, active traders can participate in trading competitions with a substantial prize pool of 300,000 USDT in Futures bonuses, rewarding various levels of trading activity. In a move to further support stablecoin adoption, MEXC has also purchased $20 million in USDe, reinforcing its commitment to expanding the stablecoin ecosystem.

    Beyond Trading: Earn Passive Income on MEXC

    In addition to listing a wide range of tokens and trading pairs, MEXC provides various financial products designed to help crypto holders generate passive income. Flexible and fixed-term savings plans allow deposits of supported tokens to earn interest. Flexible savings incur no lock-up period and deliver daily interest, while fixed-term savings require a set commitment but offer higher potential returns. Through these offerings, MEXC continues to expand its ecosystem, providing a multifaceted approach to digital asset growth that caters to both new and experienced market participants.

    Your Easiest Way to Trending Tokens

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 30 million by providing a diverse selection of tokens, high-frequency airdrops, and simple participation processes. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and 605 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    MEXC Official Website| X | Telegram |How to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ce22b33-25e4-47d2-a488-573f3084696d

    The MIL Network –

    February 27, 2025
  • MIL-Evening Report: Gene Hackman will be remembered as the Hollywood actor’s actor

    Source: The Conversation (Au and NZ) – By Will Jeffery, Sessional Academic, Discipline of Film Studies, University of Sydney

    Gene Hackman, an acting titan of 1970s and ‘80s Hollywood with more than 80 screen credits to his name, has died at 95. He was found dead in his home with his wife, pianist Betsy Arakawa, and his dog.

    Hackman had a rugged, dominating and commanding presence on screen, known for his emotionally honest, raw and fierce performances. Always the tough guy, never the romantic lead, off camera he was shy and enjoyed the quiet life.

    I first saw Hackman as a child in The Poseidon Adventure (1972). My dad put the film on for the upside-down ocean liner disaster sequences, but it was Hackman who left a lasting impression. I vividly remember being so moved by his final speech berating God for deserting the ship’s passengers and crew while he hangs from a pressure valve door over flames.

    There is no actor who comes close to conveying authority with such humanity and reserve.

    He was often referred to as the actor’s actor and mentioned by Hollywood A-listers such as Kevin Costner as the best actor they’ve ever worked with. Clint Eastwood, once Hackman retired, described him as “too good not to be performing”.

    Hackman will leave a legacy to be studied and appreciated for years to come.

    Finding a foot in show business

    Born in San Bernardino, California, on January 30 1930, Hackman’s family moved to Danville, Illinois, when he was three. Hackman’s father left when he was 13, which he described to James Lipton on Inside the Actors Studio as his father “driving by with a casual wave goodbye”.

    Hackman joked to Lipton the departure of his father at an early age made him a better actor.

    Hackman left Danville at the age of 16 to join the marines, where he spent roughly four years. He was a rebellious child, but as Peter Shelley detailed in his biography of Hackman, the marine corps was the first time he gave in to authority.

    After the marine corps, Hackman moved to New York wanting to become an actor, telling people he was inspired by tough guy James “Jimmy” Cagney.

    In New York, Hackman struggled making a living as an artist while waiting for his breakthrough (his uncle told him to give up and get an honest job). Moving to California, he became friends early on with Dustin Hoffman (they finally appeared opposite each other in Hackman’s penultimate film, 2003’s Runaway Jury).

    After struggling for years, Hackman landed his first credited screen role in 1964’s Lilith at the age of 34. He played a small part opposite upcoming star Warren Beatty.

    As Hackman recounted to Lipton, Beatty told director Arthur Penn how great Hackman was in a scene they did together. That landed Hackman his breakthrough role playing Buck Barrow opposite Beatty and Faye Dunaway in the 1967 hit Bonnie and Clyde, earning him an Oscar nomination for best supporting actor.

    Breaking through in the 1970s

    It wasn’t until the 1970s that Hackman began his leading role career, starring in The French Connection (1971) as the unforgettable hard-boiled New York detective Jimmy “Popeye” Doyle. This role earned him his first Academy Award, for best actor.

    He was to wait more than 20 years for his second and final Academy Award, for playing the ruthless Little Bill Daggett opposite Clint Eastwood in Unforgiven (1992).

    Throughout the 1970s, Hackman was gaining huge popularity on screen, sharing records with the likes of Robert Redford and Harrison Ford as the highest grossing stars at the box office.

    There are too many great Hackman performances to mention, but my favourites are Unforgiven, The French Connection, The Poseidon Adventure, The Conversation (1974), Hoosiers (1986), Mississippi Burning (1988) and The Royal Tenenbaums (2001).

    The French Connection’s director, William Friedkin, said in an interview Hackman was anti-authority and anti-racism because of his upbringing in an area known for its large Ku Klux Klan presence, and his absent father.

    Hackman almost pulled out of The French Connection one week into shooting because he didn’t like “beating on people” for a four-month shoot. He told Friedkin “I don’t think I can do this,” but Friedkin refused to let him go.

    Hackman recalled he was eternally grateful Friedkin didn’t, as it was “the start of [his] career”.

    Hackman said his character Popeye Doyle was a “bigot, an antisemitic, and whatever else you wanted to call him”, and he famously struggled to say the N-word in one key scene. He initially protested the line but eventually went with it, believing “that’s who the guy is […] you couldn’t really whitewash him”.

    Hackman often played the character who had the greatest authority on the surface but slipped up, whether he was playing the hero or the villain. Even for a role such as Reverend Scott in The Poseidon Adventure, in which Hackman played a self-righteous preacher onboard the capsized SS Poseidon, he questions his religion as he leads the entire band of escapees to safety.

    A life after acting

    Hackman retired from acting in 2004 at age 74.

    There are many stories about why he retired, like, as Shelley writes, not wanting to play Hollywood “grandfathers” and his “heart wasn’t in shape”, but his life after acting gives a strong hint: he had other interests.

    Over the past 20 years, Hackman wrote three historical fiction novels, was a keen painter, and enjoyed exercise such as cycling. Married to classical pianist Arakawa from 1991 until their death, they lived in Santa Fe, New Mexico, where he designed his own home (yes, he also loved architecture!).

    A man of many talents who played a kaleidoscopic range of authoritative roles, Hackman will almost certainly be remembered mainly for his tough-guy performance in The French Connection – though many will also remember him as the Hollywood actor’s actor.

    Will Jeffery does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Gene Hackman will be remembered as the Hollywood actor’s actor – https://theconversation.com/gene-hackman-will-be-remembered-as-the-hollywood-actors-actor-233109

    MIL OSI Analysis – EveningReport.nz –

    February 27, 2025
  • MIL-OSI: Nokia adds new Agentic-AI capabilities across its autonomous networks portfolio #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia adds new Agentic-AI capabilities across its autonomous networks portfolio #MWC25

    • Agentic-AI innovations embedded in autonomous networks portfolio help CSPs to automate, secure, and monetize their networks.
    • New capabilities introduce several new security features, including new AI-powered Threat Hunt Assistant that reduces threat dwell time from days to minutes by proactively detecting cybersecurity attacks.
    • AI innovations will be showcased at Nokia’s booth 3B20 sat Mobile World Congress, Barcelona, 3-6 March.

    27 February 2025
    Espoo, Finland – Nokia today announced new Agentic AI capabilities within its autonomous networks portfolio that will help Communication Service Providers (CSPs) better automate, secure, and monetize their networks. Extending the AI capabilities already embedded in Nokia’s autonomous networks portfolio, the latest Agentic AI enhancements enable CSPs to more easily detect security threats, accelerate new service creation, and improve the management of their networks.

    “CSPs around the world are actively pursuing higher levels of network autonomy to achieve increased operational efficiency and offer their customers personalized experiences. AI is the catalyst to unlock L4/L5 autonomy, manage complexity, and orchestrate actions across network domains and operational functions,” said Kal De, SVP Product and Engineering, Cloud and Network Services at Nokia.

    “Traditional machine learning, LLMs, and Agentic AI will each play critical roles in the journey towards fully autonomous networks. Nokia is helping CSPs evolve their network, service and security operations with AI models trained on telco data, and with access to contextual information like threat intelligence,” said Andy Hicks, Senior Principal Analyst at GlobalData.

    Nokia’s autonomous networks portfolio delivers advanced security, analytics, and operations capabilities that provide CSPs with a holistic, real-time view of the network so they can reduce costs, accelerate time-to-value, and deliver the best customer experience. Industry analysts have recognized Nokia as a leader in cybersecurity, telco AI, network automation software, service assurance, and cross-domain service orchestration*. The latest AI capabilities across Nokia’s autonomous networks portfolio include:

    • New AI innovations in security: Nokia is using a telco trained LLM and Agentic AI to proactively detect security threats and rapidly retrieve insights. With its AI-driven approach, Nokia enables CSPs to reduce manual work and significantly improve their security posture by reducing the dwell time between threats occurring and being removed from the network from days to minutes. The new AI-powered Threat Hunt Assistant, part of NetGuard Cybersecurity Dome, leverages telco threat intelligence, network telemetry, and AI to detect attacks and guide security analysts on remediation steps. In addition, enhancements to NetGuard Endpoint Detection and Response, including a signature validation capability that ensures the integrity and authenticity of container images, prevent the deployment of untrusted or tampered software in telco cloud environments.
    • New AI innovations in analytics: Nokia has augmented its subscriber experience analytics for fixed and mobile networks with Generative AI enabling CSP engineers to interact through natural language to easily retrieve insights and generate reports without requiring specialized technical skills (e.g., knowledge of SQL coding). The new self-service AI studio, part of Nokia’s Data Suite, provides an MLOps and LLMOps framework, including pre-packaged AI models for CSPs to build their own AI and GenAI use cases. Together with the AI studio, Data Suite’s curated data products help CSPs to reduce the time it takes to create new AI use cases from six months to four weeks.
    • New AI innovations in digital operations: Nokia’s Digital Operations Center leverages Agentic AI to automate tasks and troubleshoot issues in service orchestration, fulfilment, and assurance. For example, an AI agent can be used to speed up the creation and cataloguing of a new service – or to help an engineer investigate and resolve an order that has failed during the provisioning process. Additionally, Nokia Bell Labs AI models are incorporated for advanced anomaly detection and prediction of network faults.

    Nokia’s latest innovations in AI demonstrate a commitment to help CSPs realize the vision of fully autonomous networks that sense, think, and act.

    * ‘Leading Suppliers in Network Automation Software’ (Appledore Research, July 2024), ‘Frost Radar™: Extended Detection and Response, 2024 (Frost & Sullivan, December 2024), ‘GigaOm Radar for Extended Detection and Response’ (GigaOm, April 2024), ‘Automated Assurance: Worldwide Market Shares 2023’ (Analysys Mason, October 2024),  ‘Service Assurance: Competitive Landscape Assessment’ (GlobalData, December 2024).

    Multimedia, technical information and related news 
    Blog: Orchestrating the future of fully autonomous networks with GenAI
    Product Page: NetGuard Cybersecurity Dome
    Web Page: Nokia AI and Analytics

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

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

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

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

    Follow us on social media 
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    The MIL Network –

    February 27, 2025
  • MIL-OSI: Fourth Quarter Report 2024

    Source: GlobeNewswire (MIL-OSI)

    SERSTECH GROUP, 1 OCTOBER – 31 DECEMBER 2024

    • Net sales amounted to KSEK 13 326 (4 209).
    • EBITDA amounted to KSEK -1 515 (-4 390).
    • EBIT amounted to KSEK -3 725 (-7 405).
    • Cash flow from operating activities amounted to KSEK 3 645 (4 667).
    • Earnings per share amounted to SEK -0.02 (-0.04).
    • Earnings per average number of shares amounted to SEK -0.02 (-0.04).

    SERSTECH GROUP, 1 JANUARY – 31 DECEMBER 2024

    • Net sales amounted to KSEK 52 262 (62 913).
    • EBITDA amounted to KSEK -1 199 (12 900).
    • EBIT amounted to KSEK -9 040 (955).
    • Cash flow from operating activities amounted to KSEK 562 (7 632).
    • Earnings per share amounted to SEK -0.04 (0.00).
    • Earnings per average number of shares amounted to SEK -0.04 (0.00).

    Message from the CEO

    Our net sales in 2024 were 52.3 MSEK, with a net result of -9.1 MSEK. The year ended in a strong way, with an order intake of approximately 28 MSEK in Q4, whereof 15.9 MSEK will be delivered and invoiced in Q1 2025. There are several significant improvements compared to the record-breaking 2023. In 2023, we delivered three major orders from two partners, whereof one order was almost half the annual revenue. In 2024, we delivered seven major orders from seven partners. We see that the order distribution will likely continue to develop in the right direction, reducing the risk and dependency on a small number of partners.

    In 2025, we will spend significant resources on reevaluating our partner network to identify key partners and fill gaps in the coverage. To do this, we are investing more in sales and the expanded team will visit all partners we think have potential before the end of the year. During the pandemic we lost the contribution from most of our par tners. Some closed their operations, and some shifted their efforts to other areas still open for business. We know from experience that we need to push again and again to stay top-of[1]mind with our partners, who often sell a broad variety of other products. With 170 partners and only three people in sales, this has been a challenge in the past.

    We are adding two salespeople during the first half of 2025, and we have recruited a new head of sales, who starts in March. He will lead the efforts to build the sales team, and we aim to have the complete team in place before the end of the summer. We will see significant effects of our sales investments in 2026 and beyond.

    In May 2024, we launched the new Serstech Arx mkII. Throughout the year, we have spent all our R&D resources on improving it further, through upgrades of the software, algorithms, production process, and libraries. We have also invested in our SERS offering, i.e. the various accessories that allow our handheld instruments to go way beyond what a handheld instrument traditionally can do. With the SERS accessories, we can identify miniscule amounts of powders and liquids, very low concentrations, and samples with weak Raman signals. The feedback we receive from the market is that our SERS accessories are by far the best solution in the industry, and customers almost always include some SERS products when they place an order of our instruments.

    At the end of the year, we secured additional capital, which will allow the investments in sales and R&D and significant improvements in our production. The market remains larger than usual, and we need to invest in sales to be able to capture the increased volumes available. The plan is that our sales team will grow from three people to six in 2025, and as our sales capacity grows, we will add focus on the military customer segment, which is relatively new to Serstech.

    We are convinced that 2025 will return us to growth and the investments we are now doing in sales and R&D will allow us to build a strong pipeline for 2026 and onwards.

    Stefan Sandor, CEO 

    February 2025

    For further information, please contact:
    Stefan Sandor,
    CEO, Serstech AB Phone: +46 739 606 067
    Email: ss@serstech.com

    or

    Thomas Pileby,
    Chairman of the Board, Serstech AB Phone: +46 702 072 643
    Email: tp@serstech.com
    or visit: www.serstech.com

    This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:45 CET on February 27, 2025.

    Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).

    About Serstech
    Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.

    Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com

    Attachment

    • Serstech Group – Q4 Report 2024

    The MIL Network –

    February 27, 2025
  • MIL-OSI: Azerion publishes Interim Unaudited Financial Results Q4 2024 and Preliminary Unaudited Financial Results Full Year 2024

    Source: GlobeNewswire (MIL-OSI)

    Strong Platform performance driving profitability

    Highlights of FY and Q4 2024

    Our FY 2024 performance reflects the year long focus on efficiency and profitability driven by continued investment in the advertising platform: 

    • FY 2024 Revenues up 13% from € 486.7 million1 to € 551.2 million
    • FY 2024 Adjusted EBITDA up 21% YoY from € 62.2 million1 to € 75.1 million

    Specifically in Q4 2024, we focused on driving synergies and eliminating redundant costs in the advertising platform: 

    • Q4 2024 Adjusted EBITDA up 14% YoY from € 26.4 million to € 30.1 million 
    • Core segment Platform outperformed the group with Adjusted EBITDA up 15% from € 22.8 million in Q4 2023 to € 26.2 million in Q4 2024
    • Maintained Q4 2024 Revenues at € 168 million (-2%) while integrating and reorganising 2022 and 2023 acquisitions in order to phase out low margin revenues and focus on increased profitability

    At the same time we used the last quarter to strengthen our position through new partnerships, acquisitions and further financing:

    • Signed 90 new publishers and connected 3 additional SSPs and DSPs to expand our digital audiences across Europe and the Americas and further integrated our publisher monetisation tool OneFMS across regions.
    • Finalised the acquisition of Goldbach Austria GmbH, one of the foremost digital and linear advertising brokers in the DACH region providing Azerion with additional digital out of home footprint and an annual revenue run rate of over € 20 million.  
    • Entered new partnerships with Produpress in Belgium and Moneytizer in France to enrich the unique content and audiences that we make available for brands and agencies.
    • Successfully completed the placement of additional bonds for an amount of € 50 million under Azerion’s existing Senior Secured Callable Floating Rate Bond framework of € 300 million.

    In addition, we further invested in our platform’s multi-cloud infrastructure and AI capabilities:

    • Added Huawei as cloud partner alongside AWS and Google in our Azerion multi-cloud setup reducing our reliance on single cloud vendors and decreasing our total cost of ownership.
    • Migration of Eniro to the Azerion multi-cloud bringing them higher quality, lower latency service and annual cost savings of over € 1.5 million once fully implemented.
    • Deployed our latest version of AI enhanced creative performance benchmark and outcome intelligence tools helping our advertisers and our operators to better understand which ads work best for various audiences in different circumstances and allowing for machine optimisation of campaigns.

    1 (excluding the divested social card games portfolio)

    Selected KPIs

    Financial Results – Azerion Group N.V.

    in millions of €

      Q4 2024 Q4 2023 Growth FY 2024 FY 2023 Growth
                 
    Platform Segment            
    Advertising Platform 126.3 126.0 0% 412.3 348.6 18%
    AAA Game Distribution (e-commerce) 26.9 31.7 (15)% 85.0 88.8 (4)%
    Revenue 153.2 157.7 (3)% 497.3 437.4 14%
    Operating profit / (loss) 7.2 5.6 29% (1.7) (2.0) (15)%
    Adj. EBITDA 26.2 22.8 15% 62.4 53.2 17%
                 
    Premium Games Segment1)            
    Revenue  14.8 14.1 5% 53.9 77.6 (31)%
    Operating profit / (loss) (0.1) 0.5 (120)% (0.7) 74.8 (101)%
    Adj EBITDA 3.9 3.6 8% 12.7 18.7 (32)%
                 
    Group (excluding social card games)            
    Revenue 168.0 171.8 (2)% 551.2 486.7 13%
    Operating profit / (loss)  7.1 6.1 16% (2.4) (8.2) (71)%
    Adj. EBITDA  30.1 26.4 14% 75.1 62.2 21%
                 
    Group (including social card games)            
    Revenue 168.0 171.8 (2)% 551.2 515.0 7%
    Operating profit / (loss)  7.1 6.1 16% (2.4) 72.8 (103)%
    Adj. EBITDA 30.1 26.4 14% 75.1 71.9 5%

    1)2023 figures for Premium Games contain results of the social cards game portfolio that was divested in Q3 2023. For detailed split of Premium Games results please refer to respective section below.

      Q4 2024 Q4 2023   FY 2024 FY 2023  
    Adj. EBITDA Margin %            
    Platform 17% 15%   13% 12%  
    Premium Games 26% 26%   24% 24%  
    Group (excluding social card games) 18% 15%   14% 13%  
    Group 18% 15%   14% 14%  

    Message from the CEO 

    Q4 was a strong quarter for us, marked by a clear focus on profitability. By maintaining operational discipline and executing on our strategic priorities, we successfully met our full-year 2024 guidance. This achievement reflects our commitment to sustainable growth and value creation for our shareholders.Throughout the year, we have dedicated significant time and resources to building an ecosystem that truly supports European publishers. Our platform empowers them to create engaging content, monetize effectively, and manage their resources with greater predictability. By fostering a high-performance environment, we are enabling European publishers to thrive in an increasingly competitive digital landscape by giving them a truly European choice.

    Looking ahead, we continue to see AI as a major opportunity to drive further innovation and efficiency. Managing over 250,000 auctions per second gives us a unique vantage point to leverage data at scale. We have developed generative AI advertising solutions that enhance campaign performance, while our latest AI-powered creative performance benchmarks and outcome intelligence tools are delivering valuable insights to our partners. These advancements position us at the forefront of AI-driven advertising, helping our customers achieve better results with greater precision thanks to a long history of machine learning at the core of our platform.

    At the same time, we also see an increasing number of opportunities to accelerate our growth through strategic partnerships and acquisitions. We have built a strong pipeline of actionable opportunities and are well-positioned to execute on them. Stay tuned to hear more about our expansion through partnerships throughout this year, alongside the continued deployment of our AI platform.

    – Umut Akpinar

    Financial overview

    Revenue

    Q4 2024

    Revenue for the quarter amounted to € 168.0 million, down (2.2)% from € 171.8 million in Q4 2023, mainly driven by lower consumer spending in AAA game distribution. 

    FY 2024

    Revenue for FY 2024 amounted to € 551.2 million, up 13.3% from € 486.7 million in FY 2023 excluding the social card games portfolio divested in Q3 2023, mainly driven by higher advertising spend across the Platform Segment, particularly in Direct Sales and the integration of past acquisitions. 

    Revenue was up 7.0% from € 515.0 million in FY 2023 including the revenue from the social card games portfolio of € 28.3 million in FY 2023.

    Earnings 

    Q4 2024

    Adjusted EBITDA for the quarter was € 30.1 million compared to € 26.4 million in Q4 2023, an increase of 14.0% driven by improved performance in both Platform and Premium Games segments. Platform increase was largely due to the mix of Advertising Platform Revenue, increased share of Direct Sales and an increasingly efficient delivery operation. The Premium Games result was driven by the ongoing strong performance of Habbo Hotel Origins and product development across social casino and other metaverse titles, as well as further consolidation and integration efforts resulting in improved operational performance.

    The operating profit for the quarter amounted to € 7.1 million, compared to a profit of € 6.1 million in Q4 2023, mainly due to the successful integration of acquisitions and the subsequent synergies and cost reductions that were realised in the Platform segment.

    FY 2024

    Adjusted EBITDA in FY 2024 was € 75.1 million compared to € 62.2 million in FY 2023 excluding the divested social card games portfolio, an increase of 20.7% driven by higher advertising spend across the Platform Segment and improved performance of Premium Games, specifically metaverse titles due to the release and ongoing strong performance of Habbo Hotel Origins and product development across the social casino titles, plus efficiencies from the integration of previous acquisitions.. 

    Adjusted EBITDA in FY 2024 was up 4.5% from € 71.9 million in FY 2023 including the contribution from the social card games portfolio of € 9.7 million in FY 2023.

    The operating loss in FY 2024 amounted to € (2.4) million, compared to € (8.2) million in FY 2023 (excluding gain on the sale and the result of the social card games portfolio of € 81.0 million), driven by increased Platform revenue and contribution from Direct sales, improved performance of Premium Games, specifically metaverse titles due to the release and ongoing success of Habbo Hotel Origins and product development across the social casino titles plus efficiencies from optimisation and consolidation efforts, and notwithstanding the one-off increase in operating expenses related to the settlement of a commercial dispute and renegotiation of contingent consideration terms for one of the acquisitions.

    Cash flow

    Q4 2024

    Cash flow from operating activities in Q4 2024 was an inflow of € 10.0 million, mainly due to strong operating profit after cancellation of non-cash items of € 22.5 million, offset by movements in net working capital reflecting an increase in trade and other payables of € 4.9 million and an increase in trade and other receivables of € (7.6) million, net € (8.3) million paid in interest and € (1.2) million paid in income tax. 

    Cash flow from investing activities was an outflow of € (18.2) million, due to payments for tangible and intangible assets of € (6.5) million and net cash outflow on acquisition of subsidiaries of € (11.7) million. 

    Cash flow from financing activities was an inflow of € 31.5 million, mainly due to net proceeds in the amount of € 34.5 million (net of transaction costs) from additional bonds placed under the existing Senior Secured Callable Floating Rate Bond framework offset by repayments of external borrowings and the principal portion of lease liabilities amounting in total to € (3.0) million.

    FY 2024

    Cash flow from operating activities in FY 2024 was an inflow of € 7.0 million, mainly due to strong operating profit after cancellation of non-cash items of € 52.6 million, offset by movements in net working capital reflecting a decrease in trade and other payables of € (32.5) million and a decrease in trade and other receivables of € 19.9 million, utilisation of provisions of € (3.1) million, net € (25.7) million paid on interest and € (4.2) million paid in income tax. 

    Cash flow from investing activities was an outflow of € (36.8) million, mainly due to payments for tangible and intangible assets of € (20.8) million and net cash outflow on acquisition of subsidiaries of € (27.7) million, partly offset by the receipt of net deferred consideration for the sale of social card games portfolio in amount of € 11.2 million. 

    Cash flow from financing activities was an inflow of € 80.9 million, mainly due to net proceeds in the amount of € 92.1 million (net of transaction costs), consisting of € 82.7 million from additional bonds placed under the existing Senior Secured Callable Floating Rate Bond framework and a Revolving Credit Facility of € 9.4 million, offset by repayments of external borrowings and the principal portion of lease liabilities amounting in total to € (11.0) million.

    Capex

    Azerion capitalises development costs related to the internal development of assets, a core activity to support innovation in its platform. These costs primarily relate to developers’ time devoted to the development of the platform, games and other new features. In Q4 2024 Azerion capitalised € 4.8 million, equivalent to 19.2% (Q4 2023: € 3.4 million, equivalent to 12.4%) of gross personnel costs excluding restructuring provision expense. In FY 2024 Azerion capitalised € 16.2 million, equivalent to 16.0% (FY 2023: € 17.5 million, equivalent of 16.2%) of gross personnel costs excluding restructuring provision expense.

    Financial position and borrowing 

    Net interest-bearing debt*) amounted to € 203.8 million as at 31 December 2024, mainly comprising the outstanding bond loan with a nominal value of € 265 million (part of a total € 300 million framework) and lease liabilities with a balance of € 19.4 million less the cash and cash equivalents position of € 90.6 million.

    *)As defined in the Terms & Conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657. Please also refer to the Definitions section and the notes of this Interim Report for more information.

    Platform Segment

    Our Platform segment includes our digital advertising activities, AAA Game Distribution (formerly referred to as e-commerce), Casual Game Distribution (being the operation and distribution of casual games) and Azerion Sports. The Platform segment generates Revenue mainly by displaying digital advertisements in both game and general content, as well as selling and distributing AAA games. Advertisers are serviced through two models: i) Direct sales, which involve a direct engagement between Azerion’s commercial teams and advertisers or their agencies in the placement of digital advertisements, and ii) Automated auction sales in which advertising inventory is purchased through the open market. Platform is also integrated with parts of our Premium Games segment, leveraging inter-segment synergies.

    Selected business highlights in Q4 2024 include:

    • Azerion rated as the leading advertising network in France by Médiamétrie in collaboration with NetRatings.
    • 90 new publishers signed and launched including tuttocampo.it and allermedia.se providing greater reach for digital advertising.
    • Eniro has deployed our Full Monetisation Solution which we are continuing to roll out across all our regions, including Italy in Q4 2024.
    • Azerion Intelligence launched enabling new demographic segments in the Azerion DMP.
    • Azerion DMP is now integrated with Magnite and OpenX SSPs and our audiences for CTV are available via Pubmatic SSP.
    • Launched Smart AI Curation in the Azerion Marketplace further improving the ability to create custom audiences.
    • Azerion Casual Games Distribution expanded its reach in Q4 by onboarding 40 new publishers, including third-party channels such as Samsung Instant Plays. By the end of the quarter, its casual games portfolio exceeded 21,000 titles, demonstrating steady year-over-year growth

    Platform – Selected Financial KPIs

    Financial results – Platform

    In millions of €

      Q4 2024 Q4 2023 FY 2024 FY 2023
    Advertising Platform 126.3 126.0 412.3 348.6
    AAA Game Distribution (formerly e-commerce) 26.9 31.7 85.0 88.8
    Total Revenue 153.2 157.7 497.3 437.4
    Operating profit / (loss) 7.2 5.6 (1.7) (2.0)
    Adj. EBITDA 26.2 22.8 62.4 53.2
             
    Revenue growth % – Advertising Platform 0.2%   18.3%  
    Revenue growth % – AAA Game Distribution  (15.1%)   (4.3%)  
    Total Revenue growth % (2.9%)   13.7%  
    Adjusted EBITDA growth / (decrease) % 14.9%   17.3%  
    Adjusted EBITDA margin % 17.1% 14.5% 12.5% 12.2%

    Total Platform Revenue of € 153.2 million in Q4 2024, compared to € 157.7 million in Q4 2023, a decrease of (2.9)% mainly due to lower revenues in our AAA Game distribution. Total Platform Revenue of € 497.3 million in FY 2024, an increase of 13.7% compared to € 437.4 million in FY 2023, mainly due to growth in advertising revenue from Direct sales.

    Advertising Platform Revenue of € 126.3 million in Q4 2024, almost flat compared to the € 126.0 million in Q4 2023, mostly the result of an offset between growth in the direct business and the integration of revenues from acquired businesses. In Q4 2024, Azerion’s Direct sales contributed approximately 70% of Platform advertising revenue, with the balance provided by Automated auction sales. FY 2024 Advertising Platform Revenue came to € 412.3 million, up 18.3% compared to € 348.6 m in 2023.

    In Q4 2024, AAA Game Distribution generated Revenue of € 26.9 million as compared to € 31.7 million in Q4 2023, a decrease of approximately (15.1)% due to fewer high-profile AAA game releases in Q4 2024 (for example Concord™ by PlayStation didn’t get the consumer traction Sony expected and was subsequently pulled from 3rd party distribution) and optimising towards profitability rather than revenue which meant that the business sold smaller but higher margin titles.  In Q4 2024, AAA Game Distribution Revenue represented 17.6% of total Platform Revenue, as compared to 20.1% in Q4 2023. 

    Total Platform Operating Profit of € 7.2 million in Q4 2024, compared to € 5.6 million in Q4 2023, a significant increase of 28.6% largely due to the successful integration of acquisitions and the subsequent synergies and cost reductions that were realised. Total Platform Operating Loss of € (1.7) million in FY 2024, compared to € (2.0) million in FY 2023, an improvement largely due the aforementioned results of our efforts to integrate acquisitions, create synergies and reduce costs throughout the year. 

    Total Platform Adjusted EBITDA of € 26.2 million in Q4 2024, compared to € 22.8 million in Q4 2023, an increase of 14.9% largely due to the mix of Advertising Platform Revenue, increased share of Direct Sales and an increasingly efficient delivery operation. Total Platform Adjusted EBITDA of € 62.4 million in FY 2024, compared to € 53.2 million in FY 2023, an increase of 17.3% mainly as a result of growth in advertising revenue from Direct sales and the integration of previous acquisitions.

    Advertising – Selected Operational KPIs

    Advertising – Operational KPIs

      Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
    Avg. Digital Ads Sold per Month (bn) 13.9 11.9 12.1 12.6 14.1
    Avg. Gross Revenue per Million Processed Ad Requests across the Azerion Platform (EUR)1) 34.5 25.4 29.0 23.4 24.3

    1)Average gross revenue per million processed ad requests across Azerion Platform is calculated by dividing gross advertising revenue (processed by Azerion’s advertising auction and monetisation platforms) by a million advertisement requests processed by Azerion’s advertising auction and monetisation platforms.

    Note: Both Advertising Operational KPIs now include data relating to the Hawk acquisition as of Q4 2023.

    The Average Digital Ads sold per Month increased to 14.1 billion in Q4 2024 from 13.9 billion in Q4 2023, an increase of 1.4%, reflecting the Platform’s demand side growth due to the integration of past acquisitions and the consolidation of Azerion’s monetisation technology into a single scalable media buying platform. 

    The Average Gross Revenue per Million Processed Ad Requests across the Azerion Platform in Q4 2024 was € 24.3, compared to € 34.5 in Q4 2023, a decline year on year as we onboarded several high volume but relatively low revenue publishing partners in Q4 2024.   

    Premium Games Segment

    Since the end of Q3 2023, the Premium Games segment has consisted of social casino games and metaverse games. Azerion completed the sale of its social card games portfolio to Playtika Holding Corp. on 28 August 2023 and its contribution to the Premium Games segment ceased at that date. The segment generates revenue mainly by offering users the ability to make in-game purchases for extra features and virtual goods to enhance their gameplay experience. This segment aims to stimulate social interaction among players and build communities, offering an extended value proposition to advertisers and generating cross-selling opportunities with the Platform segment. 

    Selected Q4 2024 business highlights

    • Habbo Origins revenue has continued to progress several months after its release demonstrating solid long term potential and we have released new features such as Boom, a new game within Habbo Origins, which is intended to increase user engagement.
    • ⁠New releases and packages for players of our Social Casino games such as dynamic bet sizes, bet roulette and Holiday themed collections.

    Premium Games – Selected Financial KPIs

    Financial results – Premium Games

    In millions of € 

      Q4 2024 Q4 2023 FY 2024 FY 2023
    Revenue (excluding social card games) 14.8 14.1 53.9 49.3
    Social card games portfolio – – – 28.3
    Total Revenue 14.8 14.1 53.9 77.6
    Operating profit / (loss) (excluding social card games) (0.1) 0.5 (0.7) (6.2)
    Social card games portfolio – – – 81.0
    Total Operating profit / (loss) (0.1) 0.5 (0.7) 74.8
    Adjusted EBITDA (excluding social card games) 3.9 3.6 12.7 9.0
    Social card games portfolio – – – 9.7
    Total Adjusted EBITDA 3.9 3.6 12.7 18.7
             
    Revenue growth % (excluding social card games) 5.0% – 9.3% –
    Adjusted EBITDA growth % (excluding social card games) 8.3% – 41.1% –
    Adjusted EBITDA margin % (excluding social card games) 26.4% 25.5% 23.6% 18.3%

    Revenue of € 14.8 million in Q4 2024, as compared to € 14.1 million in Q4 2023, an increase of 5.0%, mainly driven by the increased number of paying users in metaverse titles due to the ongoing strong performance of Habbo Hotel Origins combined with new Social Casinos sale features, improved discount strategies and increased partner user acquisition spend. Revenue was € 53.9 million in FY 2024, as compared to € 49.3 million in FY 2023 (excluding social card games), an increase of 9.3%, driven by social casino and metaverse performance and the factors previously described for Q4 2024, partly offset by the sale of Woozworld at the start of January 2024 (totaling € 1.7 million Revenue in FY 2023).

    Adjusted EBITDA of € 3.9 million in Q4 2024, compared to € 3.6 million in Q4 2023, an increase of 8.3%, mainly driven by improved performance from metaverse titles due to the ongoing strong performance of Habbo Hotel Origins, consolidation and integration efforts resulting in improved operational performance and product development across the social casino and other metaverse titles. Adjusted EBITDA of € 12.7 million in FY 2024, as compared to € 9.0 million (excluding social card games), an increase of 41.1% compared to FY 2023 reflecting the increased performance of our metaverse titles due to the launch of Habbo Hotel origins, consolidation and integration efforts resulting in improved operational performance and product development across the social casino and other metaverse titles offset by the shift in new user generation to mobile in Azerion’s social casino environment which has higher growth potential over time, but also higher transaction costs as compared to web.

    Operating Loss of € (0.1) million in Q4 2024, compared to Operating Profit of € 0.5 million in Q4 2023, mainly driven by end of year adjustments in depreciation and amortisation.

    Operating Loss of € (0.7) million in FY 2024, compared to € (6.2) million in FY 2023 (excluding social card games), an improvement once again reflecting the developments described for Adjusted EBITDA above.

    Premium Games – Selected Operational KPIs

    Premium Games – Operational KPIs

      Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
    Avg. Time in Game per Day (min) 95.0 87.0 81.0 84.7 89.3
    Avg. DAUs (thousands) 255.4 251.2 252.9 239.4 227.4
    Avg. ARPDAU (EUR) 0.47 0.42 0.53 0.57 0.59
    • The Average Time in Game per Day (min) decreased by (6)% in Q4 2024 to 89.3 minutes per day as compared to 95.0 minutes per day in Q4 2023 due to slightly shorter average game time in the newly released Habbo Origins title compared with the rest of the metaverse games.
    • The Average Daily Active Users (DAUs) decreased by (11)% in Q4 2024 to 227.4 compared to Q4 2023 of 255.4, mainly due to lower user acquisition spend and increased focus on greater engagement with higher paying users.  
    • The Average Revenue per Daily Active User (ARPDAU) increased by 26% in Q4 2024 to € 0.59 compared to Q4 2023 of € 0.47, driven by improved in-game sales mechanics in social casino, features and events. 

    Outlook

    With our Full Year 2024 Net Revenue at € 551 million, the closing of several partnerships in the last months of the year, our subsequent bond issue in December, and the opportunities we see for the coming year, our Full Year 2025 Net Revenue is expected to be in the range of approximately € 600 million to € 650 million, with annual growth thereafter in the medium term expected to be approximately 10%. 

    Adjusted EBITDA for full year 2025 is expected to be at least approximately € 85 million, with annual Adjusted EBITDA margin thereafter in the medium term expected to be in the range of approximately 14% to 16% through further integrations, synergies and scale effects.

    Other information

    Interest-bearing debt

    Interest-bearing debt

    in millions of €

      31 December 2024 31 December 2023
    Total non-current indebtedness 268.7 172.0
    Total current indebtedness 25.9 12.6
    Total financial indebtedness 294.6 184.6
    Deduct Zero interest-bearing loans (0.2) (0.1)
    Interest-bearing debt 294.4 184.5
    Less: Cash and cash equivalents (90.6) (40.3)
    Net Interest-bearing debt (Bond terms) 203.8 144.2

    References to bond terms in the table above refer to the terms as defined in the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA  

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA – Q4

    in millions of €

      Q4
      2024 2023
      Azerion Group Premium Games Platform Other Azerion Group Premium Games Platform Other
    Profit / (loss) for the period 3.3       (7.2)      
    Income Tax expense (6.7)       (2.4)      
    Profit / (loss) before tax (3.4)       (9.6)      
    Net finance costs 11.0       15.7      
    Share in profit/(loss) of associate (0.5)       –      
    Operating profit / (loss) 7.1 (0.1) 7.2 – 6.1 0.5 5.6 –
    Depreciation & Amortisation 15.5 3.6 11.9 – 13.9 3.3 10.6 –
    Share in profit/(loss) of associate 0.5 – 0.5 – – – – –
    Other 4.1 1.2 2.9 – 1.7 (0.2) 1.9 –
    Acquisition expenses1) 2.8 (0.9) 3.7 – 3.9 (0.1) 4.0 –
    Restructuring 0.1 0.1 – – 0.8 0.1 0.7 –
    Adjusted EBITDA 30.1 3.9 26.2 – 26.4 3.6 22.8 –

    1)In the past, all changes to the fair value of liabilities for contingent considerations were adjusted out of EBITDA on the basis that these impacts were acquisition related. Management has decided to cease these adjustments where the consideration is contingent upon the achievement of financial targets, because these changes in fair value are offsetting opposite movements already included in the operational performance of the acquired entity. This change has been applied prospectively. 

    Reconciliation of Profit / (loss) for the period to Adjusted EBITDA – FY

    in millions of €

      FY
      2024 2023
      Azerion Group Premium Games Platform Other Azerion Group Premium Games Platform Other
    Profit / (loss) for the period (35.4)       25.1      
    Income Tax expense (6.0)       19.0      
    Profit / (loss) before tax (41.4)       44.1      
    Net finance costs 39.5       28.7      
    Share in profit/(loss) of associate (0.5)       –      
    Operating profit / (loss) (2.4) (0.7) (1.7) – 72.8 74.8 (2.0) –
    Depreciation & Amortisation 47.8 11.5 36.3 – 46.4 12.9 33.5 –
    Share in profit/(loss) of associate 0.5 – 0.5 – – – – –
    Social card games portfolio – – – – (72.6) (72.6) – –
    Other 5.7 1.5 4.2 – 3.2 0.7 2.5 –
    Acquisition expenses1) 22.2 – 22.2 – 14.4 1.1 13.3 –
    Restructuring 1.3 0.4 0.9 – 7.7 1.8 5.9 –
    Adjusted EBITDA 75.1 12.7 62.4 – 71.9 18.7 53.2 –

    1)In the past, all changes to the fair value of liabilities for contingent considerations were adjusted out of EBITDA on the basis that these impacts were acquisition related. Management has decided to cease these adjustments where the consideration is contingent upon the achievement of financial targets, because these changes in fair value are offsetting opposite movements already included in the operational performance of the acquired entity. This change has been applied prospectively. 

    Additional notes:

    Acquisition expenses for FY 2024 include € 7.7 million relating to:

    • € 4.8 million in Q2 2024 on one-off settlement of a commercial dispute and contingent consideration fair value loss (non-operational performance target) relating to a previous acquisition 
    • € 2.9 million in Q3 2024 on renegotiation of contingent consideration terms for one of the acquisitions.

    Operating expenses

    Breakdown of Operating expenses

    in millions of €

      Q4 FY
    2024 2023 2024 2023
    Personnel costs (20.2) (24.9) (86.2) (98.5)
    Includes:        
    Restructuring related expenses (0.1) (0.8) (1.3) (7.7)
    Acquisition related one-off items – – (1.7) –
             
    Other expenses (12.5) (8.7) (40.7) (37.3)
    Includes:        
    One-off settlement expenses – – (3.0) –
             
    Operating expenses (32.7) (33.6) (126.9) (135.8)

    Condensed consolidated statement of profit or loss and other comprehensive income

    Condensed consolidated statement of profit or loss and other comprehensive income

    In millions of €

      Q4 FY
      2024 2023 2024 2023
    Revenue 168.0 171.8 551.2 515.0
    Costs of services and materials (112.4) (117.9) (377.4) (332.3)
    Personnel costs (20.2) (24.9) (86.2) (98.5)
    Depreciation (3.0) (2.2) (9.0) (8.1)
    Amortisation (12.5) (11.7) (38.8) (38.3)
    Other gains and losses1) (0.3) (0.3) (1.5) 72.3
    Other expenses (12.5) (8.7) (40.7) (37.3)
    Operating profit / (loss) 7.1 6.1 (2.4) 72.8
             
    Finance income 3.1 1.0 7.0 8.5
    Finance costs (14.1) (16.7) (46.5) (37.2)
    Net Finance costs (11.0) (15.7) (39.5) (28.7)
             
    Share in profit/(loss) of associate 0.5 – 0.5 –
             
    Profit / (loss) before tax (3.4) (9.6) (41.4) 44.1
    Income tax expense 6.7 2.4 6.0 (19.0)
    Profit / (loss) for the period 3.3 (7.2) (35.4) 25.1
             
    Attributable to:        
    Owners of the company 3.3 (7.9) (36.7) 23.7
    Non-controlling interest – 0.7 1.3 1.4
             
    Exchange difference on translation of foreign operations (0.3) (0.3) 1.0 (0.6)
    Financial assets fair value through OCI 0.0 – (0.8) –
    Total other comprehensive income (0.3) (0.3) 0.2 (0.6)
    Total comprehensive income/(loss) 3.0 (7.5) (35.2) 24.5
             
    Attributable to:        
    Owners of the company 3.0 (8.2) (36.5) 23.1
    Non-controlling interest – 0.7 1.3 1.4

    1)Earn-out results have been reclassified from Other expenses to Other gains and losses

    Condensed consolidated statement of financial position

    Condensed consolidated statement of financial position

    in millions of €

      31 December 2024 31 December 2023
    Assets    
    Non-current assets 409.2 413.6
    Property, plant and equipment 24.3 17.0
    Goodwill 192.6 187.1
    Intangible assets 167.0 176.3
    Non-current financial assets 4.9 30.8
    Deferred tax asset 7.6 2.3
    Investment in joint venture and associate 12.8 0.1
         
    Current assets 299.6 238.4
    Trade and other receivables 208.4 196.7
    Current tax assets 0.6 1.4
    Cash and cash equivalents 90.6 40.3
    Total assets 708.8 652.0
         
    Equity    
    Share capital 1.2 1.2
    Share premium 143.6 140.2
    Legal reserve 33.2 27.7
    Share based payment reserve 12.6 12.7
    Currency translation reserve (1.0) (1.9)
    Fair value through OCI (0.8) –
    Retained earnings (117.1) (75.6)
    Shareholders’ equity 71.7 104.3
    Non-controlling interest 6.2 5.3
    Total equity 77.9 109.6
         
    Liabilities    
    Non-current liabilities 310.9 220.1
    Borrowings 256.0 161.9
    Lease liabilities 12.7 10.1
    Provisions 1.6 1.6
    Deferred tax liability 25.3 30.0
    Other non-current liability 15.3 16.5
         
    Current liabilities 320.0 322.3
    Borrowings 19.2 8.4
    Provisions 2.2 3.6
    Trade payables 136.9 142.0
    Accrued liabilities 97.5 112.7
    Current tax liabilities 14.0 13.4
    Lease liabilities 6.7 4.2
    Other current liabilities 43.5 38.0
    Total liabilities 630.9 542.4
    Total equity and liabilities 708.8 652.0

    Condensed consolidated statement of cash flow

    Condensed consolidated statement of cash flow

    In millions of €

      Q4 Q4 FY FY
      2024 2023 2024 2023
    Cash flows from operating activities        
    Operating profit / (loss) 7.1 6.1 (2.4) 72.8
    Adjustments for operating profit / (loss):        
    Depreciation and amortisation & Impairments 15.5 13.9 47.8 46.4
    Movements in provisions per profit and loss (0.1) 0.9 1.1 8.8
    Gain on sale of social card game portfolio – – – (72.6)
    Loss on sale of subsidiaries – 0.1 – 0.1
    Share-based payments expense – 0.1 0.4 0.8
    Adjustment for acquisitions and disposals presented under investing activities – – 5.7 (2.9)
             
    Changes in working capital items:         
    (Increase)/Decrease in trade and other receivables (7.6) (6.4) 19.9 12.2
    Increase (decrease) in trade payables and other payables 4.9 25.0 (32.5) 14.8
             
    Utilisation of provisions (0.3) (3.1) (3.1) (9.9)
    Interest received 0.2 0.3 1.1 0.3
    Interest paid (8.5) (3.2) (26.8) (17.2)
    Income tax paid (1.2) (2.7) (4.2) (3.7)
    Net cash provided by (used for) operating activities 10.0 31.0 7.0 49.9
             
    Cash flows from investing activities        
    Payments for property, plant and equipment (0.3) (0.1) (0.8) (1.5)
    Payments for intangibles (6.2) (3.7) (20.0) (23.3)
    Net cash outflow on acquisition of subsidiaries (11.7) (10.8) (27.7) (43.9)
    Net cash inflow/(outflow) from sale of business – – 11.2 66.0
    Distributions from equity method investees – – 0.5 –
    Net cash outflow on acquisition of securities and equity investments – – – (2.6)
    Net cash provided by (used for) investing activities (18.2) (14.6) (36.8) (5.3)
             
    Cash flows from financing activities        
    Proceeds from external borrowings 34.5 162.6 92.1 163.1
    Repayment of external borrowings (0.1) (200.7) (3.3) (204.3)
    Payment of principal portion of lease liabilities (2.9) (1.8) (7.7) (6.8)
    Early cancelation of lease liability – – – (1.5)
    Dividends paid to shareholders of non-controlling interests – – (0.2) (0.4)
    Costs related to the issuance of new bond – (3.5) – (3.5)
    Fees and costs related to the redemption of the old bond – (1.5) – (1.5)
    Other inflows (outflows) from financing activities – (0.5) – (0.5)
    Net cash provided by (used for) financing activities 31.5 (45.4) 80.9 (55.4)
             
    Net increase/(decrease) in cash and cash equivalents 23.3 (29.0) 51.1 (10.8)
    Effect of changes in exchange rates on cash and cash equivalents (1.0) 0.1 (0.8) 0.2
    Cash and cash equivalents at the beginning of the period 68.3 69.2 40.3 50.9
    Cash and cash equivalents at the end of the period 90.6 40.3 90.6 40.3

    Definitions

    Adjusted EBITDA represents Operating Profit / (Loss) excluding depreciation, amortisation, impairment of non-current assets, restructuring and acquisition related expenses and other items at management discretion, principally those assessed as extraordinary items or non-recurring items which are not in line with the ordinary course of business.

    Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of Revenue.

    Average gross revenue per million processed ad requests across Azerion Platform is calculated by dividing gross advertising revenue (processed by Azerion’s advertising auction and monetisation platforms) by a million advertisement requests processed by Azerion’s advertising  auction and monetisation platforms.

    Average time in game per day measures how many minutes per day, on average, the players of Premium Games spend in the games. This demonstrates their engagement with the games, which generates more opportunities to grow the ARPDAU.

    Average DAUs represents average daily active users, which is the number of distinct users per day averaged across the relevant period.

    ARPDAU represents Average Revenue per Daily Active User, which is revenue per period divided by days in the period divided by average daily active users in that period and represents average per user in-game purchases for the period.

    Financial Indebtedness represents as defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657 any indebtedness in respect of:

    • monies borrowed or raised, including Market Loans;
    • the amount of any liability in respect of any Finance Leases;
    • receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis);
    • any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing;
    • any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the mark to market value shall be taken into account, provided that if any actual amount is due as a result of a termination or a close-out, such amount shall be used instead);
    • any counter indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution; and
    • (without double counting) any guarantee or other assurance against financial loss in respect of a type referred to in the above paragraphs (1)-(6).

    Net Interest-bearing debt as defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657 means the aggregate interest-bearing Financial Indebtedness less cash and cash equivalents (including any cash from a Subsequent Bond Issue standing to the credit on the Proceeds Account or another escrow arrangement for the benefit of the Bondholders) of the Group in accordance with the Accounting Principles (for the avoidance of doubt, excluding any Bonds owned by the Issuer, guarantees, bank guarantees, Subordinated Loans, any claims subordinated pursuant to a subordination agreement on terms and conditions satisfactory to the Agent and interest-bearing Financial Indebtedness borrowed from any Group Company) as such terms are defined in the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657.

    Operating expenses are defined as the aggregate of personnel costs and other expenses as reported in the statement of profit or loss and other comprehensive income. More details on the reporting of cost by nature can be found in the published annual financial statements of 2023.

    Operating Profit / (Loss) represents revenue less costs of services and materials, operating expenses, depreciation and amortisation and other gains and losses.

    Disclaimer and Cautionary Statements

    This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    This communication may include forward-looking statements. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Azerion to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. Words and expressions such as aims, ambition, anticipates, believes, could, estimates, expects, goals, intends, may, milestones, objectives, outlook, plans, projects, risks, schedules, seeks, should, target, will or other similar words or expressions are typically used to identify forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks, uncertainties and other factors that are difficult to predict and that could cause the actual results, performance or events to differ materially from future results expressed or implied by such forward-looking statements contained in this communication. Readers should not place undue reliance on forward-looking statements.

    Any forward-looking statements reflect Azerion’s current views and assumptions based on information currently available to Azerion’s management. Forward-looking statements speak only as of the date they are made and Azerion does not assume any obligation to update or revise such statements as a result of new information, future events or other information, except as required by law.

    The interim financial results of Azerion Group N.V. as included in this communication are required to be disclosed pursuant to the terms and conditions of the Senior Secured Callable Floating Rate Bonds ISIN: NO0013017657.

    This report has not been reviewed or audited by Azerion’s external auditor.

    Certain financial data included in this communication consist of alternative performance measures (“non-IFRS financial measures”), including Adjusted EBITDA. The non-IFRS financial measures, along with comparable IFRS measures, are used by Azerion’s management to evaluate the business performance and are useful to investors. They may not be comparable to similarly titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of Azerion Group N.V.’s cash flow based on IFRS. Even though the non-IFRS financial measures are used by management to assess Azerion Group N.V.’s financial position, financial results and liquidity and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipients should not consider them in isolation or as a substitute for analysis of Azerion Group N.V.’s financial position or results of operations as reported under IFRS.

    For all definitions and reconciliations of non-IFRS financial measures please also refer to www.azerion.com/investors.

    This report may contain forward-looking non-IFRS financial measures. The Company is unable to provide a reconciliation of these forward-looking non-IFRS financial measures to the most comparable IFRS financial measures because certain information needed to reconcile those non-IFRS financial measures to the most comparable IFRS financial measures is dependent on future events some of which are outside the control of Azerion. Moreover, estimating such IFRS financial measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-IFRS financial measures in respect of future periods which cannot be reconciled to the most comparable IFRS financial measure are calculated in a manner which is consistent with the accounting policies applied in Azerion Group N.V.’s consolidated financial statements.

    This communication does not constitute an offer to sell, or a solicitation of an offer to buy, any securities or any other financial instruments.

    Contact

    Investor Relations: ir@azerion.comMedia relations: press@azerion.com 

    Attachment

    • Key highlights Q4 FY 24

    The MIL Network –

    February 27, 2025
  • MIL-OSI: Bigbank AS Results for January 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank started 2025 with continued growth and strong profitability.

    The loan portfolio growth was driven by focus products: the home loan portfolio increased by 18 million euros and the business loan portfolio by 11 million euros in a month. The consumer loan portfolio remained close to the level at the end of 2024, growing by 1 million euros over the month. In total, the loan portfolio grew by nearly 30 million euros in the first month of the year.

    The deposit portfolio grew even more in January. In a declining interest rate environment, Bigbank offered attractive deposit rates on both term and savings deposits across all its home markets. As a result, the portfolios of both deposit products increased by more than 75 million euros, bringing the bank’s total deposit portfolio growth to 151 million euros. This is a strong result that confirms Bigbank’s ability to significantly expand its depositor customer base and grow its deposit portfolio even in a short period.

    Interest income increased compared to January of the previous year – the positive impact of the larger loan portfolio outweighed the negative impact of the declining interest rate environment on interest income. At the same time, interest expenses also increased significantly due to the growth of the deposit portfolio. As a combined effect of these factors, net interest income in January amounted to 8.5 million euros, which was 0.6 million euros lower than in January of the previous year.

    A positive development was that, despite the significantly increased loan portfolio, the net cost of expected credit losses and provisions decreased by 0.4 million euros compared to January of the previous year, totaling 1.8 million euros. The credit quality of the loan portfolio remained at a similar level to the end of 2024.

    Net profit for January was 3.0 million euros – considering the continuing decline in the interest rate environment and the resulting pressure on net interest income, this is a solid result. Several positive developments stood out: compared to January 2024, operating expenses remained at the same level, and net fee and commission income increased by 0.1 million euros. A negative development was the increase in income tax expenses by 0.3 million euros, primarily due to the higher income tax rates that came into effect in Estonia and Lithuania at the beginning of 2025.

    Bigbank’s financial results for January 2025:

    • Deposits from customers and loans received increased by 550 million euros year-on-year, reaching 2.55 billion euros (+27%).
    • Loans to customers grew by 535 million euros year-on-year, reaching 2.22 billion euros (+32%).
    • Net interest income in January was 8.5 million euros, decreasing by 0.6 million euros compared to January of the previous year (-7%).
    • Net allowance for expected credit losses and provision expenses amounted to 1.8 million euros in January, which is 0.4 million euros less than a year ago (-18%).
    • Net profit for January was 3.0 million euros, decreasing by 0.2 million euros compared to the same period in 2024 (-7%).
    • Return on equity in January was 13.4%.
    Income statement, in thousands of euros Jan 2025 YTD25 YTD24 Difference YoY
    Total net operating income, incl. 9,334 9,334 9,675 -341 -4%
    Net interest income 8,479 8,479 9,087 -608 -7%
    Net fee and commission income 833 833 722 112 +15%
    Total expenses, incl. -3,924 -3,924 -3,918 -7 +0%
    Salaries and associated charges -2,406 -2,406 -2,214 -191 +9%
    Administrative expenses -826 -826 -1,025 199 -19%
    Profit before loss allowances 5,409 5,409 5,757 -348 -6%
    Net allowance for expected credit losses and provision expenses -1,773 -1,773 -2,150 378 -18%
    Income tax expense -615 -615 -358 -257 +72%
    Profit for the period from continuing operations 3,022 3,022 3,248 -226 -7%
    Profit or loss before tax from discounted operations 0 0 0 0  
    Profit for the period 3,022 3,022 3,248 -226 -7%
               
               
    Business volumes, in thousands of euros Jan 2025 YTD25 YTD24 Difference YoY
    Customer deposits and loans received 2,552,433 2,552,433 2,002,513 549,920 +27%
    Loans to customers 2,222,375 2,222,375 1,687,528 534,847 +32%
               
    Key figures Jan 2025 YTD25 YTD24 Difference YoY
    ROE 13.4% 13.4% 15.5% -2.1pp  
    Cost / income ratio (C/I) 42.0% 42.0% 40.5% +1.6pp  
    Net promoter score (NPS) 58 58 57 +1  

    Compared to the financial results published for January 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 0.3 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure of the financial assets, rather than on net basis. This correction does not impact the net profit for January 2024.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 January 2025, the bank’s total assets amounted to 2.9 billion euros, with equity of 273 million euros. Operating in nine countries, the bank serves more than 168,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    The MIL Network –

    February 27, 2025
  • MIL-Evening Report: Why does music make us feel things?

    Source: The Conversation (Au and NZ) – By Katrina McFerran, Professor and Head of Creative Arts and Music Therapy Research Unit; Director of Researcher Development Unit, The University of Melbourne

    Al Cruz/Unsplash

    Imagine a scene from the movie Jaws, with the great white shark closing in on another helpless victim. The iconic semi-tone pattern builds and your heartbeat rises with it; the suspense pulls you further to the edge of your seat.

    Now picture that scene without the score. Much of the tension evaporates.

    Maybe it’s a heartfelt pop ballad or a suspenseful soundtrack. If you are my age, it might be the Friends theme song, forever associated with the (largely unfulfilled) hope for sharing apartments with mates and growing old together in a blissful acceptance of one another’s limitations. Music is a powerful force to induce and pre-empt all kinds of emotions in us.

    But how do so many different combinations of rhythm, harmony and melody trigger such profound reactions?

    The categorical approach

    Swedish music psychology researcher Patrik Juslin proposed the most popular explanation of music’s ability to trigger emotion.

    He identified eight key mechanisms under the acronym BRECVEMA. The categories begin with more fundamental connections:

    Brain stem reflexes – maybe a movie jumpscare moment or another sudden, frightening sound triggering a pre-conscious response. Evolution programmed these reactions into the brain over thousands of years in order to influence arousal levels and initiate the necessary emotional response.

    Rhythmic entrainment, like the tendency to tap your foot to the beat; the benefits of moving in time together have been critical to human survival and evolution.

    Then, the listings become increasingly complex:

    Evaluative conditioning in the fashion of Pavlov’s dog. After years of watching and cultural references, we hear the Jaws music and automatically feel tense.

    The contagion effect, wherein we feel the emotions we perceive in the music. Lyrics aren’t necessary; the Peanuts cartoon’s signature tune, for example, strongly conveys childhood wonder and freedom without any words.

    The visual imagery many people experience when listening to music, imagery which is often tied to some deep emotion.

    Episodic memories, when hearing certain music brings up recollections of a past event. Music therapists can monitor the emotional reactions people have when unexpectedly reminded of particular situations, be they positive, negative or both. The therapists then use their expertise to support people in processing these resulting emotions.

    From there, Juslin’s model gets more technical and music theory-based:

    Musical expectancy, when we anticipate the resolution of a chord or phrase. This is something you might feel rather than consciously notice. Take My Heart Will Go On: a delicate tension builds through the chorus, before finally resolving as Celine Dion sings the final line of the section and listeners are put to ease.

    Aesthetic judgements, closely related to the ways we experience pleasure, are our personal emotional responses to how beautiful (or not) we consider a piece of music.




    Read more:
    Different songs for different days: why it’s important to actively choose the music for your mood


    It makes sense that a theory using the brain to explain otherwise indescribable relationships would be popular. It provides a level of objectivity to what is, in essence, a purely subjective and non-generalisable experience.

    Celine Dion keeps listeners on tenterhooks before the chorus comes to a beautifully satisfying resolution.

    Is it just about neurological pathways?

    Evolutionary theories suggest music and emotions are connected because of the inherent musicality we are each born with, essential to our ability to develop relationships and flourish.

    Parent-infant interactions often have musical aspects to them, described as:

    • pulse, a shared tempo, where infant and carer move in time together and synchronise to one underlying beat

    • quality, the character and melodic interplay of voices and movements, mirroring one another in dynamics and timbre

    • narrative, the tendency for the same phrases, gestures and movements to be repeated on the same pitch and pace over time.

    When responding to musical sounds, babies are also able to recognise musical phrases even when they start on a different note.

    Subsequently, however, other learning and our limited brain capacity mean this ability is buried deep, so it rarely translates to perfect pitch or other forms of music theory knowledge that underpin Mozart-like genius.

    A mother, laying on a bed, holds her smiling baby up on her chest.
    All of us are born with an inherent musicality.
    FamVeld/Shutterstock

    This baby-talk theory may be the most intimate and emotion-based explanation for why music affects us so strongly – it was designed to enhance our emotional bonds with others. When adults coo and dance with babies, they are being musical, meaning emotional reactions to music are implicit in human nature.

    Cognitive developmental theorists like Steven Pinker have opinions firmly in contrast to this. Pinker calls music “evolutionary cheesecake”, functioning only to tickle the senses and serving no evolutionary purpose.

    Pleasure for purpose

    Cultures across the world have long acknowledged the healing power of music.

    Sound healing practitioners in India and China, for example, point to ancient traditions of healing and draw correlations between recovery from illness and certain tones, scales and chants. Some suggest the vibrations of different tones can serve specific purposes.

    In the West, the idea of emotional differences between major and minor scales still has public traction even though its academic credibility hasn’t really extended in the past 100 years.

    None of these concepts have been used in the modern practice of music therapy, but they do reflect assumptions many people hold about how music works.

    Instead, a fundamental principle of music therapy is based on how each person’s unique connections with music shapes their emotional reactions. What moves your sibling to tears might leave you cold, for example. It always depends on a range of conditions – historical, cultural and personal.

    Cultural upbringing, simple song-like phrases from infancy and our own unique musical preferences and behaviours all shape these connections. They’re powerful, but they sure ain’t simple.

    The Conversation

    Katrina McFerran has received funding from the Australian Research Council to investigate music and emotions. She is affiliated with the Australian Music Therapy Association.

    – ref. Why does music make us feel things? – https://theconversation.com/why-does-music-make-us-feel-things-250756

    MIL OSI Analysis – EveningReport.nz –

    February 27, 2025
  • MIL-OSI: Bitget Updates Proof of Reserves for February 2025, Reserve Ratios Increase to 186%

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 27, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has released their proof-of-reserves report for February 2025. The newest snapshot shows the updated data highlights an increase of reserves to 186% up from its commitment of 100%. Bitget’s latest proof of reserves reaffirms its financial stability and transparency, showcasing a strong total reserve ratio. 

    The exchange holds substantial reserves across major assets, ensuring more than full backing of user funds. The breakdown reveals a 322% reserve ratio for Bitcoin, with over 19,393 BTC held against user liabilities of 6,030 BTC. Similarly, Ethereum reserves stand at 173%, with holdings of 199,433 ETH exceeding the 115,051 ETH in user assets. Stablecoin reserves are also robust, with USDT at 138% and USDC at 121%, showing strong backing.

    The Merkle root hash verification adds an extra layer of transparency, allowing users to independently verify their assets within Bitget’s system. With 35 million records included in the Merkle tree, the exchange continues to prioritize accountability. The report highlights Bitget’s commitment to safeguarding user assets while maintaining operational integrity. By consistently holding reserves well above liabilities, Bitget reinforces trust in its financial health, positioning itself as a secure and reliable platform for crypto traders and investors.

    The updated PoR showcases Bitget’s efforts in maintaining more than industry standard 100% reserves, which effectively guarantees that users’ assets are safe. The platform is capable of covering user withdrawals, even if all user assets are withdrawn.

    In addition to maintaining a higher than industry standard PoR, Bitget insures its users further with a $300M Protection Fund, now valued over $570 million according to its latest protection fund report. This gives the platform an extra layer of resilience against cybersecurity threats.

    For real-time PoR tracking, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e6e37dd-29ad-4275-b259-d9650b21488f

    The MIL Network –

    February 27, 2025
  • MIL-OSI Australia: Shannon Durrant appointed to Harness Racing NSW Board

    Source: New South Wales Government 2

    Headline: Shannon Durrant appointed to Harness Racing NSW Board

    Published: 27 February 2025

    Released by: Minister for Gaming and Racing


    Minister for Gaming and Racing David Harris has announced the appointment of Shannon Durrant to the Harness Racing NSW (HRNSW) Board.

    Ms Durrant brings extensive expertise in compliance, audit and risk management, with senior leadership experience in the financial services sector. She is currently the Group Chief Risk Officer at Grimsey Wealth and has previously held key roles at Colonial First State and AMP.

    Alongside her corporate background, Ms Durrant is deeply engaged in equine sports. She serves as a Director and Company Secretary of Riding for the Disabled Association Australia and is a former Director of Pony Club Australia.

    Ms Durrant has been appointed for a four-year term, until February 2029, following a merit-based selection process.

    Her appointment replaces Peter Nugent, who is voluntarily departing the board after serving two four-year tenures.

    HRNSW is the independent body responsible for the governance, regulation and development of harness racing in NSW. Ms Durrant’s appointment reflects the NSW Government’s commitment to strong leadership and strategic oversight in the industry.

    For more information about HRNSW and the full list of Board members, visit the HRNSW website: https://www.hrnsw.com.au/hrnsw/about-us/board

    Minister for Gaming and Racing David Harris said:

    “Harness racing plays an important role in communities across NSW, supporting jobs, entertainment and our regional economy. This is particularly highlighted with the Carnival of Cups series currently showcasing the sport across our state.

    “Shannon Durrant is highly respected in her field, and her expertise in risk management and compliance, combined with her passion for equine sports, makes her an outstanding addition to the Harness Racing NSW Board.

    “Her leadership will help strengthen governance, assist growth and ensure the ongoing integrity of the industry.

    “I would like to acknowledge the contributions of outgoing Board member Peter Nugent over the past eight years and thank him for his dedicated service to the industry.”

    MIL OSI News –

    February 27, 2025
  • MIL-OSI Economics: Samsung Receives 58 Accolades at iF Design Awards 2025

    Source: Samsung

    Samsung Electronics today announced that it received a total of 58 awards at the International Forum (iF) Design Awards 2025, a prestigious German international design competition. Included among the honors was a Gold Award for Samsung’s Ballie and advanced concept package design for small portable projectors, ‘BOJAGI’.
     
    Founded in 1953 as Die Gute Industrieform e.V., the iF Design Awards evaluates a comprehensive range of factors, including differentiation and impact, across a total of nine categories: Product Design, Packaging Design, Communication Design, Interior Architecture, Professional Concept, Service Design, Architecture, User Experience (UX) and User Interface (UI).
     
    “Innovation with AI can help resonate with our customers through the power of design” said TM Roh, President and Head of the Corporate Design Center at Samsung Electronics. “We will strive to provide designs that harmonize with consumers’ changing lifestyles and contribute to society and the lives of our consumers.”
     
     
    Two Gold Awards Recognize Designs That Offer Customized Experiences for Different Lifestyles

     
    Ballie,1 an AI companion robot for the home, acts as a personal assistant that can autonomously drive around the home to complete various tasks. By connecting to and managing home appliances, Ballie can provide a helping hand to users in many situations — continually learning from users’ patterns and habits to provide smarter, more personalized services.
     

     
    Advanced concept package design for small portable projectors — named as ‘Sustainable Design & Communication, BOJAGI’ — was inspired by a traditional Korean tool called bojagi. The design was implemented using scrap fabric, and was designed to be able to package and sustainably be reused regardless of its shape.
     
     
    58 Awards Ranging From TVs to Home Appliances to Smartphones
    Samsung Electronics’ 58 wins came across all design categories. In addition to the Gold Awards for the ‘Ballie’ and ‘BOJAGI’, Samsung received awards in the Product Design category for the Bespoke AI Laundry Combo , an all-in-one washer and dryer; Galaxy Ring, a wearable device packed with Samsung’s powerful sensor technology and Galaxy AI capabilities to help users keep track of their health by simply wearing it on their finger; and the Neo QLED 8K, a TV that provides an immersive experience with the infinity air design.
     
    Other products and services that were recognized for design excellence include Foldable Galaxy AI UX, Bespoke refrigerator UX and the Newfound Equilibrium exhibition at Milan Design Week 2024. Foldable Galaxy AI UX enables seamless communication anywhere, anytime with AI-based mobile features like Live Translate, which enables easy conversations with someone in another language. And thanks to the dual screen functionality of Galaxy Z series, you can switch your device into FlexMode so both parties can see the conversation translated in a more natural way. Bespoke refrigerator UX provides various experiences that simplify user’s lives, such as managing food lists and controlling connected devices. And the Newfound Equilibrium exhibition showcases Samsung’s user centered design philosophy with an aim to inspire vision for a better future that encompasses the balance between people and technology.
     
     
    1 Will be available in the first half of 2025 and availability may vary by region.

    MIL OSI Economics –

    February 27, 2025
  • MIL-OSI Australia: 4BC Brisbane, Breakfast with Peter Fegan

    Source: Australian Ministers 1

    PETER FEGAN:  Now, you’ll remember last year we reported it here on 4BC and it made headlines nationally, the states were officially put on notice by the Federal Government. The states were saying, show me the money and the Federal Government was simply saying, well, prove what it’s worth. Federal Transport Minister Catherine King told state premiers if they wanted cash, they needed good business cases. It’s pretty smart politics, really. The good news is we’ve passed the test here in Brisbane. Today, we’ll be handed a cheque for $200 million, and it includes funding for one of Brisbane’s oldest icons. The Federal Transport Minister, Catherine King, joins me on the line. Minister, great to have your company this morning.

    CATHERINE KING: So lovely to be with you, Peter. It’s a beautiful day here in Brisbane.

    PETER FEGAN: Now, one of our landmarks, our most famous landmarks, will be getting some cash. Can you reveal it on the program please?

    CATHERINE KING: Yeah. So we’re working with the Brisbane City Council to start to investigate what the cost of and scope of work that are needed to restore and to future maintenance of what is obviously the most iconic bridge, one of the most iconic bridges in the country, apart from the Sydney Harbour Bridge, of course. But it’s- you know, it’s a landmark. And so we’re putting in alongside Brisbane City Council together, $5 million to really get that work done, to see what is it that we’re going to need to do. It’s going to need more cash into the future. But this is really starting the process of working with the council to look at what do we need to make sure this bridge stays there into the future and is as strong as it possibly can be, and we keep it there for many, many generations to enjoy.

    PETER FEGAN: Now, there was also $1 million that’s been put aside to investigate a bridge from West End to Toowong. Well, Minister, I’m going to do you a favour here this morning. I’m going to save you that $1 million, and I’m going to say this, just build it because we’ve wanted it for so long. 

    CATHERINE KING: [Laughs] Well, unfortunately we have to work out the cost of these things first. And part of what you do with the business case and the planning is you do the geotech work. You have a look at what services need to be moved so that you can then- the city council can come to me and say, well, look, we need this amount of money to actually build it. So that’s really just the start of the process. And I was at the opening, obviously, of Kangaroo Point Bridge. I’ve seen hundreds and hundreds of people have been using that. We want to see people being able to access all parts of the city. And so this is again, just working with the Brisbane City Council, doing that planning work, finding out how much- you know, we really need to understand how much it costs and then sort of getting on with it once we’ve got that understanding.

    PETER FEGAN: Minister, no more footbridges. We need cars to go across. We drive here in Brisbane. We don’t get transport, unfortunately.

    CATHERINE KING: Well, we do lots of things. I think people catch buses.

    PETER FEGAN: [Laughs]

    CATHERINE KING: So obviously, there’s the Brisbane Metro [indistinct], there’s people do that. People will cycle. I’ve seen people everywhere doing that. I’ve seen people walking across footbridges and then I’ve obviously seen- in terms of lots of cars as well. Everyone does all of those things. But cars are obviously pretty important here in Queensland.

    PETER FEGAN: Minister, I found this one very interesting, being somebody that grew up in the western suburbs of Brisbane, plenty of people listening to me from the west this morning, they’ll find this interesting. $78.5 million towards cost pressures on the Moggill Road Corridor upgrade project, replacing Indooroopilly roundabout with an overpass over Moggill Road. Now that’s great, but what about the Moggill Road corridor in particular? And then that’s further out towards Moggill. And I’m talking about land that had been put aside. Government land, Crown land that’s been put aside since Malcolm Fraser’s days. And yet people that live out in those western suburbs are still struggling to get to work, because we haven’t used that parcel of land. Can you give a guarantee that one day we may use it?

    CATHERINE KING: What again, we do is work in partnership with councils. So obviously Brisbane City Council is in a really unique position across the country that it has such a substantial road and obviously public transport network that it has to fund and build itself. So we work closely with Brisbane City Council and also state governments. They bring projects forward to us in budget and we make considerations of those. We’ve got to do the planning work first, make sure we understand it, but know if the council or the state government want to bring that forward. I, of course, will give it due consideration in the budget process.

    PETER FEGAN: $7.2 billion upgrade to fix the Bruce Highway. I think this is the most contentious topic here in Queensland. And I got to say, Minister, when it comes to the election, this will be one of the most divisive topics and I think you’ll either win or lose votes here. $7.2 billion upgrade to fix the Bruce, right? That’s one hell of an obligation to Queenslanders in particular. But I’ve got to say this, Minister, we are reluctant to believe either government, particularly this Labor Government at the moment, because it was this government that had turned its back on the Bruce and had switched the funding arrangement around. $7.2 billion sounds fantastic. I’ve got to say, on behalf of all Queensland, Minister, we just need to get on with it. We need this highway to be safe.

    CATHERINE KING: Absolutely. And that’s why, you know, the earliest possible opportunity we did, we’ve made the announcement at that $7.2 billion. Money will flow this year and every subsequent year.  We’ve said we’ll get it done in eight years. We’ve asked the Queensland Government to deliver that …

    PETER FEGAN: [Talks over] But it’s been 50.

    CATHERINE KING: … then obviously [indistinct].

    PETER FEGAN: 50 or 60 years, Minister. It’s 50 or 60 years and not one government can fix it.

    CATHERINE KING: Well, this Government has made the single biggest contribution to the Bruce Highway ever. And this is a Labor Government that has done that. And if you look back when we were last in office, prior to that, it was the then infrastructure minister, now Prime Minister, who then made the single biggest commitment to this.

    This is a Labor legacy, and we are absolutely committed to making the Bruce Highway safer. We’ve been in government obviously two and a half years. And I do want to make it really clear, no money has ever been cut from the Bruce Highway. What we have said is-

    PETER FEGAN: But the funding agreement- the funding- hang on, Minister, the funding agreement, that’s not true. The funding agreement was an 80/20 split…

    CATHERINE KING: [Talks over] That’s true…

    PETER FEGAN: … and you- but you changed that. So that’s funding cutting. Hang on, Minister, you changed that. It was an 80/20 split, but you say no funding has ever been cut. If you change- if you go from 80/20 to 50/50, that to me- I’m not a mathematician, but that’s a 30 per cent cut in funding.

    CATHERINE KING: So no, it isn’t. And so I want to make that really clear. I think there’s some confusion about that and been a bit of mischief about that. So first thing is not a single dollar has been cut from the Bruce Highway. In fact, the commitment that we’ve got, there’s $10 billion that has already been spent on the Bruce Highway. That has remained, and then we’ve put in an additional 7.2 billion. We’ve recognised on the Bruce Highway, in particular because of the safety concerns, 41 deaths just last year alone, that we will continue to fund that on an 80/20 basis.

    But what we did announce is that because the Commonwealth is now increasingly funding suburban roads, public transport and has stepped into the space of the state governments, largely, we’re now on other roads, particularly across the country, now requiring the state to also step up its commitment. We’re not dropping any of our funding. There’s still $125 billion worth of Commonwealth funding going to states and territories. We’re not dropping that. We’re just asking the states to step up with their contribution as well. So it’s not a cut to our funding. We’re asking the states to step in in the same way we’re stepping in on suburban roads now, but generally were 100 per cent of the state to fund.

    PETER FEGAN: It’s bang on quarter after eight. My guest this morning is the Federal Transport Minister, Catherine King. $200 million being announced today in funding for our roads here in Brisbane and in the South East. Minister, I’ve got to say this. It’s smart politics to ask the states to present you a case study because money is really, really tight, particularly on a federal level. So I like it. I think it’s good politics, and I think that that’s what the states should have to do. The reason I’m asking you about this, though, is because we need a really nice, new shiny stadium here in Queensland and particularly in Brisbane. We’ve got the Olympics coming. Now, if there was a case study put forward by David Crisafulli for a brand-new stadium, you’d be on board, wouldn’t you?

    CATHERINE KING: Well, the thing that we have put money towards, so there’s $3.5 billion capped from the Commonwealth going into the Olympics. We have said the Commonwealth’s contribution will go towards the Brisbane Arena. $2.5 billion is going towards that, we think, will leave a really significant legacy for an entertainment venue here in the heart of Brisbane – really necessary. We’ve also said we will 50/50 share the minor venues. Obviously, the Queensland Government is undertaking a review of those venues at the moment, but the Commonwealth has done- we’ve done the work, we’ve done the business case, the work is ready to go on the Brisbane Arena and that remains- you know, remains there on the table to build that arena for Brisbane. We think it’s needed and it will leave a great legacy for the community.

    PETER FEGAN: Let’s hope they’re listening, because it’s next month that we announce whether we’re going to get a new stadium or not. Before I let you go, Minister, what did you make of today’s announcements? I want to get your thoughts on this because your government has approved a deal between Virgin and Qatar Airways. Now, this is a deal that would see Qatar be able to invest in Virgin. It means there’s going to be more Qatar flights. It means we can spread our wings a little bit. Should hopefully cheapen flight prices here in Australia. But I’ve got to think back, if my memory serves me correctly, it was you that clipped Qatar’s wings in the first place.

    CATHERINE KING: So what we’ve had announced today is that the Treasurer has approved the Foreign Investment Review Board’s decision that Qatar Airways, the Qatari government, can invest in Virgin, and that obviously allows Virgin to do a number of things in terms of it going forward. Obviously, Bain Capital is wanting to withdraw and have Qatar now come in as the major investor. What it’s allowed us also to do is ensure that there are some Australians on the board of Virgin to make sure that we’ve got that in place and that they’re in fact opportunities to train Australian pilots, as again, Qatar has been granted through Virgin some wet leases to increase its flights, its international flights and create that competition. And I think that’s a good thing.

    PETER FEGAN: Before I let you go, we’ve got some breaking news. The election, 12 April. Is that right?

    CATHERINE KING: [Laughs] Very nice try there. What a sneaky way to do it, you cheeky thing.

    PETER FEGAN: [Laughs] I should have just – I shouldn’t have laughed.

    CATHERINE KING: You should have just- I know, I nearly believed you then. You just got me. I’ve got three brothers who do that to me all the time.

    PETER FEGAN: What would you have said, though?

    CATHERINE KING: I don’t know, I have absolutely no idea. [Indistinct] to the Prime Minister, but very cheeky. You nearly got me.

    PETER FEGAN: Good on you, Minister. We’ll chat again very soon.

    CATHERINE KING: Lovely to talk to you, Peter.

    PETER FEGAN: There she is. That’s the Federal Transport Minister, Catherine King.

    MIL OSI News –

    February 27, 2025
  • MIL-OSI China: Forum held to promote China-Japan-ROK cooperation in TV industry

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

    Forum held to promote China-Japan-ROK cooperation in TV industry

    Updated: February 27, 2025 09:50 Xinhua

    A forum aimed at promoting trilateral cooperation among China, Japan and South Korea in the TV industry was held in east China’s Qingdao on Tuesday.

    MIL OSI China News –

    February 27, 2025
  • MIL-OSI New Zealand: Tech and Security – New Zealand coming second in the region in the number of malware incidents, new analysis shows – NordVPN

    Source: NordVPN

    According to new research by the cybersecurity company NordVPN, over 83 million malware incidents have been recorded in 2024 in New Zealand, emphasizing the growing cybersecurity threats.

    Internet users should be extra careful when clicking links seemingly sent by Big Tech companies – there’s quite a big chance it might be a deliberately misspelled phishing link. Data shows that Google, Facebook, and Microsoft are the top three brands most likely to be impersonated for credential harvesting.

    “In fact, the majority of all phishing attacks use around 300 brand names for deception. The brands themselves are not at fault – such fakes hurt their reputation as well, forcing companies to actively hunt them down. However, high brand awareness can lull victims into a false sense of security and get them to lower their guard,” says Adrianus Warmenhoven, a cybersecurity advisor at NordVPN.

    According to the same research, last year there were almost 85,000 fake URLs that impersonate Google websites and services. With more than 6,000 fake URLs online, Facebook takes second place as the scammers’ favorite. Microsoft is in third place, with almost 5,000 fake URLs. Fake AT&T, Yahoo!, and Netflix links should be evaluated more carefully as well. In each of those cases there were around 4,000 fake URLs online.

    New Zealand experienced more than 83 million malware incidents in 2024 – the second number in Oceania, with Australia leading the region with more than 351 million incidents per year.

    An array of security threats

    Data analysed by NordVPN suggest you should also stay away from free video hosting sites (yes, that includes anime hosting websites) and a few other categories. Throughout 2024, NordVPN’s Threat Protection Pro feature blocked more than 1.5 billion malware infection attempts on video hosting sites. Other domain categories with the most malware are: entertainment (almost 1 billion malware blocked) and sports (124 million). Just a little behind are adult content sites (109 million malware blocked) and file sharing and storage websites (almost 74 million).

    “The above mentioned categories, free video hosting sites in particular, tend to contain a variety of  security and privacy threats. Not only malware, but intrusive ads and trackers as well. Over the past year, Threat Protection Pro blocked almost 7 billion ads and more than 119 billion trackers on video hosting sites alone. This accounts for 25% off all blocked trackers by Threat Protection Pro in 2024,” says Adrianus Warmenhoven.

    Know your enemy

    Web trackers are a broad category of privacy-invading tools that collect information on user activity. Trackers typically take the form of special scripts, browser cookies, or tracking pixels. Businesses use trackers to paint an accurate picture of you for targeted advertising – but if they suffer a data breach, the stored tracker data could end up falling into the hands of cybercriminals.

    Warmenhoven adds that websites often share or sell data collected by trackers to third parties. Those who want to protect their privacy can use several tools to become less trackable, such as tracker blockers, which prevent websites and advertisers from collecting data about your online activity.

    Malware refers to any kind of programming that was deliberately designed to harm you or your device. This includes malicious software like viruses, trojans, ransomware, and spyware. Malware can steal sensitive data, encrypt important files, or even take over the machine, putting the criminal in complete control.

    “It is important to know that malware must be actively brought onto your device, such as by downloading an infected file. One of the most common ways to get infected with malware is through phishing attacks. Scammers use deceptive misspellings of popular brands (such as spelling “Amazon” as “Arnazon”) to trick victims into clicking phishing links and downloading infected files. So you should always check the spelling before clicking,” notes Warmenhoven.

    Intrusive advertising refers to ads that actively interfere with your online experience. Intrusive ads aren’t content to just stay on the sidelines – they may distract you by popping up randomly while you’re scrolling, open additional browser tabs, hog bandwidth with lengthy videos, or even hijack the page you’re on. Even worse, some intrusive ads may try to infect your device or redirect you to malicious websites.

    Cybersecurity expert advice on how to protect yourself

    To protect yourself from common cybersecurity threats like malware, trackers, and intrusive ads, Adrianus Warmenhoven advises to take these precautions:

    Avoid a “free lunch.” Certain web domain categories are much more likely to host malware that could compromise your device than others. One of the most prominent categories is free video hosting sites.

    Be wary of unsolicited emails and messages. Phishing scams are one of the main methods used by criminals to steal personal and financial data. Emails promising too-good-to-be-true promotions, invitations, or gifts, are probably not true. Messages asking you to update your data or just click on a link may also be versions of phishing.

    Don’t get scared and check the links. Cybercriminals prey on confusion and ignorance. They try to scare people, hoping that victims will act on emotion. Don’t do that. Try not to click on links that try to scare you or promise you riches – check the spelling first.

    Verify downloads. Malware executables may be disguised as or hidden in legitimate files. Always verify the website you want to download from, and always use anti-malware tools like Threat Protection Pro to inspect the files you download.

    Limit data exposure. Information such as location, full name, and other personal details can be used by criminals for scams and cyberattacks. Adjust your privacy settings and avoid sharing sensitive data publicly, such as on social networks.

    Keep your devices updated. Outdated software is an easy target for cyberattacks. Make sure to keep your operating system, applications, and antivirus software up to date to fix vulnerabilities and ensure greater protection.

    Methodology: The statistics mentioned above were acquired by analyzing aggregated data gathered by NordVPN’s Threat Protection Pro service from January 1, 2024 to January 1, 2025. NordVPN is not endorsed by, maintained, sponsored by, affiliated, or in any way associated with the owners of the mentioned brands. Brands are indicated solely for the purpose of accurately reporting information related to brands that were most likely to be impersonated for spreading malware.

    ABOUT NORDVPN

    NordVPN is the world’s most advanced VPN service provider, used by millions of internet users worldwide. NordVPN provides double VPN encryption and Onion Over VPN and guarantees privacy with zero tracking. One of the key features of the product is Threat Protection , which blocks malicious websites, malware during downloads, trackers, and ads. The latest service by the Nord Security team is Saily — a new global eSIM. NordVPN is very user friendly, offers one of the best prices on the market, and has over 6,200 servers covering 111 countries worldwide. For more information: https://nordvpn.com.

    MIL OSI New Zealand News –

    February 27, 2025
  • MIL-OSI Australia: Transcript-interview-4BC Brisbane, Breakfast with Peter Fegan

    Source: Australian Ministers for Regional Development

    PETER FEGAN:  Now, you’ll remember last year we reported it here on 4BC and it made headlines nationally, the states were officially put on notice by the Federal Government. The states were saying, show me the money and the Federal Government was simply saying, well, prove what it’s worth. Federal Transport Minister Catherine King told state premiers if they wanted cash, they needed good business cases. It’s pretty smart politics, really. The good news is we’ve passed the test here in Brisbane. Today, we’ll be handed a cheque for $200 million, and it includes funding for one of Brisbane’s oldest icons. The Federal Transport Minister, Catherine King, joins me on the line. Minister, great to have your company this morning.

    CATHERINE KING: So lovely to be with you, Peter. It’s a beautiful day here in Brisbane.

    PETER FEGAN: Now, one of our landmarks, our most famous landmarks, will be getting some cash. Can you reveal it on the program please?

    CATHERINE KING: Yeah. So we’re working with the Brisbane City Council to start to investigate what the cost of and scope of work that are needed to restore and to future maintenance of what is obviously the most iconic bridge, one of the most iconic bridges in the country, apart from the Sydney Harbour Bridge, of course. But it’s- you know, it’s a landmark. And so we’re putting in alongside Brisbane City Council together, $5 million to really get that work done, to see what is it that we’re going to need to do. It’s going to need more cash into the future. But this is really starting the process of working with the council to look at what do we need to make sure this bridge stays there into the future and is as strong as it possibly can be, and we keep it there for many, many generations to enjoy.

    PETER FEGAN: Now, there was also $1 million that’s been put aside to investigate a bridge from West End to Toowong. Well, Minister, I’m going to do you a favour here this morning. I’m going to save you that $1 million, and I’m going to say this, just build it because we’ve wanted it for so long. 

    CATHERINE KING: [Laughs] Well, unfortunately we have to work out the cost of these things first. And part of what you do with the business case and the planning is you do the geotech work. You have a look at what services need to be moved so that you can then- the city council can come to me and say, well, look, we need this amount of money to actually build it. So that’s really just the start of the process. And I was at the opening, obviously, of Kangaroo Point Bridge. I’ve seen hundreds and hundreds of people have been using that. We want to see people being able to access all parts of the city. And so this is again, just working with the Brisbane City Council, doing that planning work, finding out how much- you know, we really need to understand how much it costs and then sort of getting on with it once we’ve got that understanding.

    PETER FEGAN: Minister, no more footbridges. We need cars to go across. We drive here in Brisbane. We don’t get transport, unfortunately.

    CATHERINE KING: Well, we do lots of things. I think people catch buses.

    PETER FEGAN: [Laughs]

    CATHERINE KING: So obviously, there’s the Brisbane Metro [indistinct], there’s people do that. People will cycle. I’ve seen people everywhere doing that. I’ve seen people walking across footbridges and then I’ve obviously seen- in terms of lots of cars as well. Everyone does all of those things. But cars are obviously pretty important here in Queensland.

    PETER FEGAN: Minister, I found this one very interesting, being somebody that grew up in the western suburbs of Brisbane, plenty of people listening to me from the west this morning, they’ll find this interesting. $78.5 million towards cost pressures on the Moggill Road Corridor upgrade project, replacing Indooroopilly roundabout with an overpass over Moggill Road. Now that’s great, but what about the Moggill Road corridor in particular? And then that’s further out towards Moggill. And I’m talking about land that had been put aside. Government land, Crown land that’s been put aside since Malcolm Fraser’s days. And yet people that live out in those western suburbs are still struggling to get to work, because we haven’t used that parcel of land. Can you give a guarantee that one day we may use it?

    CATHERINE KING: What again, we do is work in partnership with councils. So obviously Brisbane City Council is in a really unique position across the country that it has such a substantial road and obviously public transport network that it has to fund and build itself. So we work closely with Brisbane City Council and also state governments. They bring projects forward to us in budget and we make considerations of those. We’ve got to do the planning work first, make sure we understand it, but know if the council or the state government want to bring that forward. I, of course, will give it due consideration in the budget process.

    PETER FEGAN: $7.2 billion upgrade to fix the Bruce Highway. I think this is the most contentious topic here in Queensland. And I got to say, Minister, when it comes to the election, this will be one of the most divisive topics and I think you’ll either win or lose votes here. $7.2 billion upgrade to fix the Bruce, right? That’s one hell of an obligation to Queenslanders in particular. But I’ve got to say this, Minister, we are reluctant to believe either government, particularly this Labor Government at the moment, because it was this government that had turned its back on the Bruce and had switched the funding arrangement around. $7.2 billion sounds fantastic. I’ve got to say, on behalf of all Queensland, Minister, we just need to get on with it. We need this highway to be safe.

    CATHERINE KING: Absolutely. And that’s why, you know, the earliest possible opportunity we did, we’ve made the announcement at that $7.2 billion. Money will flow this year and every subsequent year.  We’ve said we’ll get it done in eight years. We’ve asked the Queensland Government to deliver that …

    PETER FEGAN: [Talks over] But it’s been 50.

    CATHERINE KING: … then obviously [indistinct].

    PETER FEGAN: 50 or 60 years, Minister. It’s 50 or 60 years and not one government can fix it.

    CATHERINE KING: Well, this Government has made the single biggest contribution to the Bruce Highway ever. And this is a Labor Government that has done that. And if you look back when we were last in office, prior to that, it was the then infrastructure minister, now Prime Minister, who then made the single biggest commitment to this.

    This is a Labor legacy, and we are absolutely committed to making the Bruce Highway safer. We’ve been in government obviously two and a half years. And I do want to make it really clear, no money has ever been cut from the Bruce Highway. What we have said is-

    PETER FEGAN: But the funding agreement- the funding- hang on, Minister, the funding agreement, that’s not true. The funding agreement was an 80/20 split…

    CATHERINE KING: [Talks over] That’s true…

    PETER FEGAN: … and you- but you changed that. So that’s funding cutting. Hang on, Minister, you changed that. It was an 80/20 split, but you say no funding has ever been cut. If you change- if you go from 80/20 to 50/50, that to me- I’m not a mathematician, but that’s a 30 per cent cut in funding.

    CATHERINE KING: So no, it isn’t. And so I want to make that really clear. I think there’s some confusion about that and been a bit of mischief about that. So first thing is not a single dollar has been cut from the Bruce Highway. In fact, the commitment that we’ve got, there’s $10 billion that has already been spent on the Bruce Highway. That has remained, and then we’ve put in an additional 7.2 billion. We’ve recognised on the Bruce Highway, in particular because of the safety concerns, 41 deaths just last year alone, that we will continue to fund that on an 80/20 basis.

    But what we did announce is that because the Commonwealth is now increasingly funding suburban roads, public transport and has stepped into the space of the state governments, largely, we’re now on other roads, particularly across the country, now requiring the state to also step up its commitment. We’re not dropping any of our funding. There’s still $125 billion worth of Commonwealth funding going to states and territories. We’re not dropping that. We’re just asking the states to step up with their contribution as well. So it’s not a cut to our funding. We’re asking the states to step in in the same way we’re stepping in on suburban roads now, but generally were 100 per cent of the state to fund.

    PETER FEGAN: It’s bang on quarter after eight. My guest this morning is the Federal Transport Minister, Catherine King. $200 million being announced today in funding for our roads here in Brisbane and in the South East. Minister, I’ve got to say this. It’s smart politics to ask the states to present you a case study because money is really, really tight, particularly on a federal level. So I like it. I think it’s good politics, and I think that that’s what the states should have to do. The reason I’m asking you about this, though, is because we need a really nice, new shiny stadium here in Queensland and particularly in Brisbane. We’ve got the Olympics coming. Now, if there was a case study put forward by David Crisafulli for a brand-new stadium, you’d be on board, wouldn’t you?

    CATHERINE KING: Well, the thing that we have put money towards, so there’s $3.5 billion capped from the Commonwealth going into the Olympics. We have said the Commonwealth’s contribution will go towards the Brisbane Arena. $2.5 billion is going towards that, we think, will leave a really significant legacy for an entertainment venue here in the heart of Brisbane – really necessary. We’ve also said we will 50/50 share the minor venues. Obviously, the Queensland Government is undertaking a review of those venues at the moment, but the Commonwealth has done- we’ve done the work, we’ve done the business case, the work is ready to go on the Brisbane Arena and that remains- you know, remains there on the table to build that arena for Brisbane. We think it’s needed and it will leave a great legacy for the community.

    PETER FEGAN: Let’s hope they’re listening, because it’s next month that we announce whether we’re going to get a new stadium or not. Before I let you go, Minister, what did you make of today’s announcements? I want to get your thoughts on this because your government has approved a deal between Virgin and Qatar Airways. Now, this is a deal that would see Qatar be able to invest in Virgin. It means there’s going to be more Qatar flights. It means we can spread our wings a little bit. Should hopefully cheapen flight prices here in Australia. But I’ve got to think back, if my memory serves me correctly, it was you that clipped Qatar’s wings in the first place.

    CATHERINE KING: So what we’ve had announced today is that the Treasurer has approved the Foreign Investment Review Board’s decision that Qatar Airways, the Qatari government, can invest in Virgin, and that obviously allows Virgin to do a number of things in terms of it going forward. Obviously, Bain Capital is wanting to withdraw and have Qatar now come in as the major investor. What it’s allowed us also to do is ensure that there are some Australians on the board of Virgin to make sure that we’ve got that in place and that they’re in fact opportunities to train Australian pilots, as again, Qatar has been granted through Virgin some wet leases to increase its flights, its international flights and create that competition. And I think that’s a good thing.

    PETER FEGAN: Before I let you go, we’ve got some breaking news. The election, 12 April. Is that right?

    CATHERINE KING: [Laughs] Very nice try there. What a sneaky way to do it, you cheeky thing.

    PETER FEGAN: [Laughs] I should have just – I shouldn’t have laughed.

    CATHERINE KING: You should have just- I know, I nearly believed you then. You just got me. I’ve got three brothers who do that to me all the time.

    PETER FEGAN: What would you have said, though?

    CATHERINE KING: I don’t know, I have absolutely no idea. [Indistinct] to the Prime Minister, but very cheeky. You nearly got me.

    PETER FEGAN: Good on you, Minister. We’ll chat again very soon.

    CATHERINE KING: Lovely to talk to you, Peter.

    PETER FEGAN: There she is. That’s the Federal Transport Minister, Catherine King.

    MIL OSI News –

    February 27, 2025
  • MIL-OSI New Zealand: Backing farmers to innovate and make more money

    Source: New Zealand Government

    The Government is ramping up a programme to boost sustainably and farm productivity. 

    Agriculture Minister Todd McClay has announced the ‘Science for Farmers’ initiative will be rolled out at agricultural events around the country starting with the Dargaville, Wānaka, Feilding, and Kirwee Agricultural Shows over the next two months. 

    “Science for Farmers brings leading scientists to the regions to talk directly with farmers about research and innovation that’s already paying dividends on farms around the country,” Mr McClay says. 

    The programme is a collaboration between the Ministry for Primary Industries’ On Farm Support service and key research partners, including AgResearch, AgriZeroNZ, LIC, Massey University, Manaaki Whenua – Landcare Research, and the New Zealand Agricultural Greenhouse Gas Research Centre. 

    It provides detailed information and access to experts in many areas including on:

    • Alternative pasture types that can help farmers future-proof their pasture-based systems in a warming climate.
    • Advanced genetics to increase production whilst helping to meet environmental and emissions obligations. 
    • On-farm management systems that increase profit and enhance business resilience.

    “The Government is committed to lifting rural productivity, increasing jobs and unlocking New Zealand’s potential by going for growth.

    “Small steps can make a big difference. Every extra kilo of milksolids, kg of meat or wool, and extra tray of fruit we produce through innovation and science, puts more money into the pockets of rural New Zealand and helps achieve our goal of doubling the value of exports within 10 years”. 

    MIL OSI New Zealand News –

    February 27, 2025
  • MIL-OSI New Zealand: Education – Whitireia and WelTec connect with community at local events Te Rā o te Raukura and Waitangi Day in Porirua

    Source: Whitireia and WelTec

    Whitireia and WelTec have joined two Wellington events which focus on the wellbeing of local communities, celebrate culture and local talent, and commemorate the signing of Te Tiriti o Waitangi.
    The events, Te Rā o te Raukura in Waiwhetū, Lower Hutt (a Te Āti Awa and Āti Awa Toa FM event) and Waitangi Day in Porirua (a collaboration between Porirua City Council and Ngāti Toa Rangatira) both held annually, are important occasions in the calendar for local communities, with excellent turnouts, including record attendance this year at Waitangi Day in Porirua. The festivities include musical performances, food stands and artisanal stalls, with Whitireia and WelTec hosting an education stall at both.
    Te Rā o te Raukura, a whānau-oriented community cultural festival that focuses on social wellbeing, education, and health, provided a great opportunity for those enjoying the festivities to see firsthand some of the learning and support options at Whitireia and WelTec. Waitangi Day in Porirua is one of the largest celebrations of our nation’s day with an estimated 35,000 attendees this year, making it a fantastic event to connect with the local community and those who travelled from across the wider Wellington region to commemorate the signing of Te Tiriti o Waitangi.
    The Whitireia and WelTec stalls included interactive displays and showcased the learning journey, mahi (work) and projects completed by current ākonga (students) and graduates. These stories provided valuable insight into the impact of study, with highlights including a carpentry house model, samples of engineering projects, and a student-developed computer game, all demonstrating potential career paths for ākonga. Māori and Pasifika Trades Training and enrolments kaimahi (staff) alongside tutors from information technology, trades training, nursing, social work, construction, and engineering were able to talk through the pathway to gaining hands-on skills or study towards a qualification.
    Hinemoa Priest, Kaiwhakahaere Ngā Ara Me te Tautoko, Director Learner Pathways and Support at Whitireia and WelTec, explains that community connection is important. Positive education outcomes are an enormous contributor to economic and social wellbeing and the study options and support offered by Whitireia and WelTec can make a huge difference in the lives of learners, their families, and wider communities. “The exceptional support throughout a student’s study journey at Whitireia and WelTec and being able to study local and be close to home with whānau support, is an incredible advantage.”
    Plus, there is dedicated support for ākonga Māori at Whitireia and WelTec, with the Tamaiti Whāngai and Te Awarua teams on hand to support the success and participation of ākonga Māori. “Ākonga can walk in, have a hui, ask questions, and get wrap-around mentoring, pastoral, cultural and academic support. The teams also provide external advocacy to help learners navigate things like fees and accommodation”, says Hinemoa.
    Mark Oldershaw, Executive Director for Whitireia and WelTec says Te Rā o Te Raukura and Waitangi Day in Porirua are two wonderful events, both fostering community connection. “It is a privilege to reinforce Whitireia and WelTec’s commitment to providing vocational education, showcase our study options and be on hand to have conversations with those considering study and future work.”
    To enol with Whitireia and WelTec: visit https://www.whitireiaweltec.ac.nz/enrolment-information

    MIL OSI New Zealand News –

    February 27, 2025
  • MIL-OSI USA: ICYMI: Grassley-Durbin WSJ Letter to the Editor: What RFK Jr. Gets Right on Big Pharma

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – In a Wall Street Journal letter to the editor, Sens. Chuck Grassley (R-Iowa) and Dick Durbin (D-Ill.) welcomed Health and Human Services Secretary Robert F. Kennedy Jr.’s support for enhanced transparency regarding direct-to-consumer (DTC) prescription-drug advertisements. Grassley and Durbin are leading bipartisan legislation to require price disclosures in DTC commercials.
    President Trump recently signed an Executive Order to empower patients and increase price transparency.
    Text of Grassley and Durbin’s letter to the editor follows:
    We write in regard to the Jan. 2 article “What RFK Jr.’s Dislike for Drug TV Commercials Could Mean for the Ad Industry” (CMO Today), describing Robert F. Kennedy Jr.’s support for banning direct-to-consumer prescription-drug advertisements.
    The U.S. Senate previously passed our bipartisan measure to require price disclosures in these commercials. In fact, the last Trump administration supported our legislation. A federal watchdog review we requested found that nearly two-thirds of Medicare’s drug spending is on a small handful of costly medications shown on TV.
    We recently reintroduced our bipartisan bill to bring price transparency to prescription-drug advertising and put patients in the driver’s seat. By ending Big Pharma’s secrecy, patients will be empowered to make more informed choices. Drug corporations may also think twice about price increases or running commercials if they had to be honest about the cost.
    We look forward to working with the second Trump administration on this.
    Sen. Dick Durbin (D., Ill.)
    Sen. Chuck Grassley (R., Iowa)
    -30-

    MIL OSI USA News –

    February 27, 2025
  • MIL-OSI USA: Durbin Exposes Trump’s Phony “Energy Emergency,” Which Will Only Cut American Jobs And Enrich Big Oil Billionaires

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin
    February 26, 2025
    In a speech on the Senate floor, Durbin urges his colleagues to vote for Senator Kaine’s measure that will end President Trump’s fabricated “energy emergency”
    WASHINGTON – In a speech on the Senate floor today, U.S. Senate Democratic Whip Dick Durbin (D-IL) disparaged the Trump Administration’s fabricated “energy emergency,” which President Trump declared in a vile effort to use additional presidential authority to fast-track the construction of oil pipelines and drilling in the Gulf of Mexico, among many other pro-fossil fuel projects.  The false emergency is a thinly veiled effort to appease President Trump’s wealthy donors at the expense of the planet, American jobs, home electric bills, and the U.S.’ energy independence from China.
    Durbin’s remarks came ahead of a vote on a measure introduced by U.S. Senator Tim Kaine (D-VA) that would end the fictitious national energy emergency declared by President Trump through an Executive Order. 
    Durbin began his floor speech by emphasizing that, despite the Trump Administration’s claims, the United States has been thriving in energy production, particularly because of the Inflation Reduction Actprovisions that every congressional Republican voted against.
    “Among those Executive Orders [issued by President Trump] was his declaration of an ‘energy emergency.’  Turns out that the claim is not based on fact.  There is no ‘energy emergency’ in America.  Under the Biden Administration, we saw record deployment of wind, solar, biofuels, batteries, oil, gas, and nuclear.  In fact, the United States is producing more power than ever, and last year, the United States of America produced more oil than any nation in the history of the world,” Durbin said.  “And yet, President Trump continues to insist that America is on the verge of nationwide blackouts and that clean energy will raise prices.  [That is] Simply not true.”
    As Durbin underscores, President Trump’s emergency declaration was motivated by placating the billionaires that he asked for hefty campaign contributions from.  The declaration grants President Trump additional presidential authorities, allowing the Administration to circumvent critical environmental regulations and open up federal lands and waters for oil and gas drilling.  This will only enrich Big Oil executives while desecrating protected lands.
    “So what’s the reason for the President to try to mislead the American people? The short answer is that he wants to give handouts to his billionaire buddies in the fossil fuel industry,” Durbin said.  “Before Elon Musk showed up with his multi-billion-dollar fortune, it was reported that then-candidate Donald Trump invited fossil fuel executives to Mar-a-Lago to ask for – hold on to your seats – a one-billion-dollar campaign contribution.”  
    “Now that President Trump is in office, he is doing everything he can to keep those billionaires happy.  That means tax cuts for the ultra-wealthy, which is on its way I’m afraid, opening up federal lands and waters for drilling, and yes, declaring this phony energy emergency,” Durbin said.
    While President Trump falsely asserts that his declaration will support U.S. energy production, he failed to include any provisions to support fossil fuels’ cleanest competitors—wind and solar power.  As wind and solar power are the cheapest energy to produce, consumers who use this power, in turn, see a reduction in their energy costs. 
    In fact, President Trump’s so-called “energy emergency” could raise a family’s annual energy bills by up to 12 percent or around $500 a year.  In addition to costing Americans hundreds of dollars, the phony “energy emergency” could cost the country the 400,000 new jobs that Democrat-led investments have spurred since August 2022.
    “Wind and solar power is the cheapest energy in the world.  And those cheap prices get passed on to families…  I know personally.  A few years ago, my wife and I made the decision to install solar panels on the roof of our home.  Our home project gave union workers in my community a good-paying job, and it was just one project contributing to the hundreds of thousands of jobs created under the Biden Administration,” said Durbin. 
    “Since Democrats’ Inflation Reduction Act was enacted two and a half years ago, more than one and a half million Americans have installed solar panels,” Durbin said.  “Every one of those installations also helped to create good-paying jobs for electricians, carpenters, and other workers, and supplying those panels created thousands of new jobs at factories around the country.  But President Trump was not impressed.  He wants to eliminate those jobs.”
    President Trump’s fabricated national emergency also jeopardizes the U.S.’ energy independence.  Earlier this month, the American solar industry reported that, for the first time ever, it had the capacity to meet the demand for all solar in the U.S.  Historically, China has dominated solar manufacturing by controlling at least 80 percent of the global market; however, the country was leading the sector by circumventing tariffs and using forced labor to produce solar panels.  Rather than invest in American-made clean energy and American jobs, President Trump is turning toward Big Oil billionaires and allowing China to overtake the U.S.’ energy sector.
    Durbin concluded his remarks by urging his colleagues, on both sides of the aisle, to stand up for American-made clean energy, American jobs, and American energy independence by voting to end President Trump’s fictional energy emergency.
    “We have an opportunity to undo the harms of one of President Trump’s many lies today…  We need to raise up American workers, lower utility bills, and put our country back on track to lead the world in clean energy.  I urge my colleagues to support the Kaine measure,” Durbin said.
    Video of Durbin’s remarks on the Senate floor is available here.
    Audio of Durbin’s remarks on the Senate floor is available here.
    Footage of Durbin’s remarks on the Senate floor is available here for TV Stations.
    -30-

    MIL OSI USA News –

    February 27, 2025
  • MIL-OSI NGOs: Greenpeace USA supports the Polluters Pay Climate Superfund Act in California

    Source: Greenpeace Statement –

    WASHINGTON, DC (February 26, 2025)— In response the introduction of the Polluters Pay Climate Superfund Act in California’s State Assembly and Senate, a common sense law that would require fossil fuel corporations to pay for the climate devastation they have fueled, Zachary Norris, Greenpeace USA’s California Climate Campaign Director said: 

    “California must seize this opportunity to protect workers and communities from the devastating impacts of the climate crisis. For decades, the oil and gas industry has polluted without consequence, raking in massive profits while leaving our communities to suffer — it’s time to make polluters pay for the damage they’ve caused. This landmark law will safeguard vulnerable communities and ensure Californians are not left alone to pay for climate disasters.”

    This Act was introduced after the devastating January firestorm in Los Angeles County that damaged or destroyed over 7,800 structures in the Palisades Fire, almost 10,500 structures in the Eaton Fire, and claimed the lives of 29 Californians. The Polluter Pay Superfund Act of 2025, SB 684 and AB 1243, was introduced by Senator Caroline Menjivar (D- San Fernando Valley) and Assemblymember Dawn Addis (D- Morro Bay).

    “We applaud the authors of this bill and hope that every other legislator will seriously consider and support this common sense law. True leaders not only know the climate crisis is real and caused by polluters, but they take action to end the financial injustice imposed on California families by climate disasters.”


    Contact: Gigi Singh, Communications Manager at Greenpeace USA
    (+1)  631-404-9977, [email protected]  

    Greenpeace USA is part of a global network of independent campaigning organizations that use peaceful protest and creative communication to expose global environmental problems and promote solutions that are essential to a green and peaceful future. Greenpeace USA is committed to transforming the country’s unjust social, environmental, and economic systems from the ground up to address the climate crisis, advance racial justice, and build an economy that puts people first. Learn more at www.greenpeace.org/usa.

    MIL OSI NGO –

    February 27, 2025
  • MIL-OSI New Zealand: State of the Planet speeches, 2025

    Source: Green Party

    At this year’s State of the Planet address, Green Party co-leaders Marama Davidson and Chlöe Swarbrick announced the party’s plans to deliver a Green Budget this year to offer an alternative vision to the Government’s trickle-down economics and austerity politics.   

    Chlöe’s speech:

    Mihi atu ki a koutou e pupuri tonu ana ki te mana o te whenua nei, tēnā koutou Ngāti Whātua.

    Tēnā koutou, Auckland Central to the world.

    Across the past year, I have been in front of dozens of audiences like this, and time and again, I have asked people one simple question.

    I’ve asked people to raise their hand if they are excited about the future.

    Every single time, fewer than half a dozen people in a sea of hundreds put their hand up. 

    This, my friends, is our problem.

    Trickle-down politicians and their donors have spent at least forty years coming after our public services, our media and our democracy, but it’s clear now more than ever that their real target has been our hope.

    The hope that better is possible.

    These guys want you exhausted and angry and disillusioned. It means you’re disempowered. Too exhausted to think at the end of the work day.

    Too angry to see the problem clearly.

    Too disempowered to look around and see all the other exhausted and angry people, and to understand that if we all spent a moment to find our common problems and common solutions, everything could change.

    So, conveniently, all across the world, after decades of privatising and underfunding the public services people need to live healthy lives and participate in society, after decades of creating the conditions of poverty and extreme vulnerability and isolation and mental ill health… After creating this exhaustion and anger and despair, the right wing knows those feelings have to go somewhere.

    So they’ve painted targets.

    Those painted targets are not the people actually responsible for causing poverty and homelessness and unemployment and understandable, deep rage.

    No.

    The chosen targets are indigenous peoples, fighting for survival after centuries of injustice and violent theft. Those chosen targets are our rainbow communities, who every day prove that all these social norms are just made up. The chosen targets are migrants – regular people, like you and me, who just want to provide for themselves, their families and their community.

    Let me be crystal clear: if you’re struggling to get by, your beef isn’t with someone else struggling to get by.

    Your beef is with the system that forces almost everyone you know into a life of struggle, and, more precisely, your beef is with those who profit from it.

    It’s Pride Month. We’ve seen some of the most aggressive and intentional targeting of our takatapui, rainbow and queer community in a long time. Some of that has been driven by a self-declared apostle who

    lives in a mansion and drives nice cars, funded by huge tithing from people without much to spare.

    The followers of this self-declared apostle have been rejected from most of regular society time and again. Some of them have been scooped up into the flock after exiting prison, because after decades of successive Governments giving up on real rehabilitation, there simply isn’t anything or anywhere else.

    So people who have nothing else, and nowhere else to belong, are given refuge.

    And internal pain is warped outwards.

    Instead of being channelled towards dismantling the rules that allow a handful of people to take an immense amount of wealth off the back of our collective work, that anger is – so conveniently for those profiteering from the status quo – channelled towards people just trying to live their own quite regular or quite fabulous, lives.

    These extreme microcosms of hatred can teach us a lot about where we’re at as a society. More importantly, I think, when we peel back the distractions, it lays bare the solutions.

    We cannot give up on our fellow human beings.

    You do not get human rights because someone deems you worthy or good. You get human rights because you are human.

    When we uphold each other’s basic dignity, no matter what, we create the conditions for connection and true justice.

    We all need somewhere to belong, and human history tells us there’s almost always a politician or self-appointed apostle willing to capitalise on and warp rejection and fear and anger for their own personal gain.

    The anger comes from a real place of material deprivation: housing insecurity, food insecurity, income insecurity. Straight up insecurity.

    That anger can either destroy us as we fight each other, much to the entertainment of those laughing their way to the bank, or it can be turned into the solidarity necessary to change the rules of this game.

    Our country is considered one of the wealthiest in the world on a per person basis.

    So why can’t regular people afford to go to the dentist?

    It’s not because of the gays, or the migrants, or tangata whenua.

    It’s because that wealth isn’t fairly shared.

    It’s because way back when the public health system was being created, the lobby was already so strong to privatise dentistry.

    Why can’t regular people afford decent housing?

    Because over decades, politicians and property speculators – sometimes one in the same – have made intentional decisions to sell off your human right to housing to the highest bidder.

    And why is the planet that all of this is happening on being allowed to burn while billionaires pile up ill-gotten treasure?

    Because almost everybody’s focus, understandably, is on just trying to get by. It’s hard to think about, let alone contend with, how a handful of people are ransacking the climate necessary for our collective survival in order to make a quick buck. You’re just out here trying to survive.

    That’s what we mean when we say that the same economic system that’s exploiting people is also exploiting the planet.

    What’s a right-wing government’s response to this exploitation and exhaustion? Well, obviously, it’s more exploitation and exhaustion. It’s more punishing beneficiaries and tax cuts for the rich.

    It’s fast-tracking offshore profits plundered from our natural environment.

    It’s banging the ‘growth’ drum while intentionally being silent on what kind of growth, and for whom.

    Seriously. Just last week when we were in Parliament, I asked the Prime Minister why after decades of this “growth” he’s so fixated on, 10% of the people in this country own 60% of our nation’s wealth.

    It will shock you to learn Christopher Luxon didn’t answer the question.

    Instead, he went on and on about celebrating successful people.

    That would maybe make sense if we were talking about people in isolation, which the right wing so desperately wants us to do.

    But we’re not, and we can’t, because, my friends, we live in a society.

    Poverty, and all the social ills that stem from it, don’t come from nowhere.

    It comes from a tolerance of extreme inequality.

    If you’re totally sweet with 311 households holding more wealth than the bottom two and a half million New Zealanders, you’re totally sweet with the child deprivation, homelessness and poor health that comes with it.

    Inequality and poverty aren’t just connected: deep inequality creates poverty.

    Where would all this pent-up anger go if it wasn’t directed to other people just struggling to get by? If hustle culture didn’t teach us to lap it all up in self loathing?

    What if we realised our shared power in working together, instead of fighting each other?

    If we ensured the wealthy paid their fair share, instead of swallowing trickle-down fairytales?

    We don’t live in a game of Monopoly. We can and should change the rules when they don’t work for the majority of people.

    In the last year alone, we have seen tens of thousands of people turn up in the streets to prove our country’s values of care for each other and the planet we live on. For Te Tiriti.

    2024 was the year of activism. 2025 must be the year of organising. Of channelling that energy into a shared goal: to change this Government, to uproot the trickle-down nightmare and to build an economy that supports life, instead of exhausting it.

    In December, the Greens released He Ara Anamata, our Emissions Reduction Plan. We showed how to reduce emissions five times faster than the Government’s proposal. We proved you can not only reduce emissions and the cost of living, but also improve quality of life.

    Today, I am proud to announce that in May, the Greens will be releasing the Budget we would be rolling out in Government.

    Our budget will not be a defence of the status quo.

    Our budget will show you how we already have everything we need to ensure everyone enjoys our basic rights to a clean environment and stable climate. Everyone is housed, everyone gets healthcare, everyone gets education. Everyone gets the genuine opportunity for a good life.

    That’s because we believe in the public good. And we’re sick of this Government’s pathetic pandering to privatisation.

    Forty years ago, a few politicians made the decision to shred our social safety net. They began selling off the things we all used to own and look after together. They privatised profit and socialised cost.

    The problems we are confronted with today are not natural. Humans made the system that created them, and we can recreate it.

    The gap between an economy that exploits people and the planet and one that supports us both is collective action. As long as regular people are suspicious of and fighting each other, a handful of powerful people will get incredibly rich at all of our expense.

    Nobody is coming to save us. We are the ones we’ve been waiting for.

    It’s time to claim your hope – to claim your power. Look to your fellow New Zealanders with curiosity and kindness. The pathway to our freedom is intertwined.

    So, raise your hand: who here is excited about the future?

    And are you willing to work for it?

    Are you willing to believe in and work to uphold the dignity of your fellow New Zealanders, even and especially those who you have not met? Those not even born yet?

    Solidarity doesn’t require us to be the same. It simply requires you to see in someone else our shared humanity, and to behave accordingly.

    Together, we are unstoppable.

    I am so honoured to introduce you all now to my wonderful co-leader – the Honourable Marama Davidson. Nau mai, hoki mai Marama!

    —

    Marama’s speech:

    Mā te oranga o te taiao, ka ora ai te iwi. Mō te takitini, kāore mō te torutoru anake.

    E te whānau, I am so grateful to be here today. I am well, and feeling better each day.

    My mokopuna are rongoā. My mokopuna, just by being the embodiment of my ancestors – are a reminder of all that we love. Of all that we must protect.

    Over the many months of cancer treatment, one of the most profound experiences of healing was daytime nana naps with my moko babies. Where I had any assortment of my three babies, asleep and at peace with the shared vibrations of our heartbeats and gentle breathing. Getting to enjoy this has been a precious blessing.

    I am grateful to the wonderful health care professionals who have been there for me each step of the way.

    I am grateful to my whānau, who are my rock. And to every single person who reached out with aroha and support. To the breast cancer community, thank you for being there for all of us. To those who are going through treatment or have just heard the worst news of their lives – nunui te aroha kia koutou.

    I haven’t spoken publicly about this before, but today I’m going to let you in on a secret. I was diagnosed with breast cancer a few days before the State of the Planet speech last year. I remember standing at this exact podium – knowing I would need to step away from public life for a bit. Taking leave when my voice was needed the most was one of the hardest things I’ve ever had to do.

    This job is and continues to be an enormous privilege. To be able to come back to it, blows my mind.

    But the space to recover and put my health and whānau first was both necessary, and something I am beyond grateful for. Not everyone has the support I had. I will never take that for granted and I will always work to embed the political change we need so that everyone can put health first. Like better pay and conditions for our health workers, decent income support, and secure housing for all.

    Ehara taku tū i te tū takitahi, ehara taku toa i te toa takitahi, ehara taku taumaha i te taumaha takitahi. We all depend on each other when times are rough. People want to care for each other – manaakitanga is what makes us human. Within whānau and communities, to care and be cared for is the basis of connection.

    These are the values the Green Party wants to bring to politics as well.

    Being on the sidelines of politics last year was surreal. When the hikoi for te Tiriti happened, it was during medical treatments and I needed to stay home. But seeing people come together with such vibrant unity, made me so proud that I grabbed my ‘tino’ flag and took a photo in my garden so I could feel part of the movement.

    While the hīkoi was in response to a Government that continues to disregard the promises this country was founded on, it was so much more than a protest. It was the ultimate example of how to show up: with our tūpuna, for our mokopuna and for each other. The wairua shown at the hīkoi is the best of us.

    As Moana Jackson said, te Tiriti o Waitangi is about the rightness that comes from people accepting their obligations to each other. This is a profound vision on which to build a country. Aotearoa can be a place where everyone is supported to thrive, and no one is left behind – including Papatūānuku.

    And I take inspiration from this vision not only here in Aotearoa, but globally.

    The world feels like a bit of a scary place right now. I worry for the future of my three mokopuna, and all the mokopuna to come. My heart breaks for children in Gaza, for all children growing up in war zones, for children in detention centers, and for children and their whānau throughout the world who are hungry, cold and homeless.

    At a time when the world needs to be coming together to solve climate change – the greatest challenge humanity has ever faced – instead we can barely come together to solve easy challenges like making sure every child has healthy kai.

    We can do better. Our mokopuna deserve better.

    Last year was the hottest year on record. That means that my mokopuna, and all the babies of the world today, will never see a normal climate. They have been born into climate change. And no matter where they are born, here in Aotearoa or far across the sea, they need us – their adults – to step up to this challenge right now. They deserve to inherit a thriving planet, not a destroyed one.

    Now I want to draw this back to Te Tiriti, because these things are connected. Te Tiriti is a promise that carries through the generations. Te Tiriti is an enduring guarantee of iwi and hapū sovereignty over taonga like our lakes, rivers, seas, soils and native forests. And that means protecting those living systems for our mokopuna – so they too can exercise tino rangatiratanga.

    Te Tiriti is the best defence Aotearoa has against the plundering of our environment for the profit of the few. This is why the far right is so intent on ripping it up and pretending it doesn’t matter. But that short term exploitation only enriches the pockets of a tiny group of people, while destroying nature for the rest of us.

    When our gorgeous conservation land is trampled for mining, when our rivers become too polluted to swim in, when we can’t go down to the moana to harvest kai because there aren’t enough fish left – everyone misses out. And when a tiny group of oil executives are more interested in a growing balance sheet than a stable climate, every single child in the world misses out.

    Our mokopuna deserve better!

    At the heart of the political change we seek is manaakitanga, collective caring for people and planet. And crucially, the humility to understand that common human experiences are much more important than any flash job title or made-up markers of status. A serious illness throws that into sharp relief. Because what matters most when things are tough is our care for one another. I know that people are doing the best they can with what they have.

    But the dominating economic system, means that wealth and power are not shared equally. These inequities further divide communities when instead we need to come together. By making sure everyone gets the care they need, we can ensure nobody is left behind to fall through the cracks. Care and justice for ALL people is what binds us together and helps us build a future where all of us thrive. This vision will be at the centre of our Green Budget.

    This is what our politics should reflect. A politics of care. A hunger for doing what is just. This is the legacy of our late and great friend, Green MP Fa’anānā Efeso Collins whose one year anniversary of passing we have been reflecting on over the past week. Gone too soon our friend, we miss you deeply.

    Efeso spent his life building bridges between the Pacific communities he loved and the rest of Aotearoa.

    During Efeso’s maiden speech in Parliament, he shared with us his translation of a saying in Sāmoan: E le tu fa’amauga se tagata. No one stands alone, no one succeeds alone — and, for him, and the Green Party, no one suffers alone.

    This is manaakitanga.

    And this is what inspires me e te whānau. This is the hope for our mokopuna.

    But collective care is not part of this government’s plan. They are showing us each day they stand for the few and not for the many. They are completely out of touch with the community.

    We have seen this in the choices to gut school lunches. To gut housing for those who need it the most. To gut our health system and put more and more pressure on our health workers. To gut benefits so that more and more children fall through the cracks and below the poverty line. For absolute shame!

    Our mokopuna deserve better.

    We can deliver better by channeling community power and finally putting people and planet ahead of profit.

    This country can afford to feed our tamariki nutritious kai. We could choose to provide lunches in every school – using fresh local kai and made by people who are connected to that school. We could choose to make sure every person in this country has a safe, warm home. Poverty is a political choice and we can choose to end it.

    We can do all of this by putting our values of manaakitanga at the heart of political decisions. By honouring te Tiriti o Waitangi and the promises of kotahitanga and care as the foundation this country was built on.

    And when we do that, we will show the world what it looks like to put care for people and planet first. Together, we can build the future all our mokopuna deserve.

    And that mahi is why I am so so grateful to be back with you all. Kia kaha tatau – ka whawhai tonu, mō te whenua, mō te taiao, mō ngā mokopuna – ake, ake, ake

    MIL OSI New Zealand News –

    February 27, 2025
  • MIL-OSI Economics: Xbox reveals agenda for developers at GDC 2025 March 17-21

    Source: Microsoft

    Headline: Xbox reveals agenda for developers at GDC 2025 March 17-21

    As we gear up for the Game Developers Conference (GDC) 2025, we couldn’t be more excited to meet up with our friends and colleagues in the industry and explore the many incredible new opportunities that await. This year, GDC takes place from March 17-21 at the Moscone Convention Center in San Francisco, California. We’ll host partner meetings, participate in conference sessions, and sponsor events like the IGF Awards and the ESA Foundation’s Nite to Unite. Attendees that come by the Xbox Lounge in Moscone South will have a chance to see the latest Xbox experience on PC, join a Q&A with an Xbox development expert, and learn about the opportunities and benefits of building with Xbox across PC, Cloud and Console.

    Xbox is expanding to any screen on any device, making it easier for anyone to play with the friends they want – whether they choose to play with Xbox console, PC, Smart TV or mobile. At GDC, we’re inviting game developers to go behind the scenes to better understand what it means for Xbox to be playable on any screen. We’re committed to empowering game developers to tap into that opportunity by building cross-capable games that take advantage of Xbox across devices. Our presence will reveal the many ways game developers can reach more players with Xbox and showcase success stories of developers who are maximizing the opportunity.

    Whether you’re an indie developer or a seasoned professional, Xbox speakers will be presenting insights for every stage of your development journey. Check out the full schedule below. If you will be engaging remotely, you can learn more by visiting our Game Development Resource Hub here and to learn more about AI for Gaming, check out our Gaming AI Resource Hub here.

    For us, GDC 2025 is as much about showcasing the Xbox developer experience as it is about fostering collaboration with partners and driving our gaming future, together. See you there!

    Monday, March 17

    UX Summit: UX Writing: A New(ish) Craft in Mobile Games
    Speaker: Patricia Gomez (King)
    Date: Monday, March 17
    Time: 9:30am – 10:30am
    Location: Room 2010, West Hall

    Community Management Summit: Social Media Microtalks: Authenticity from You and the Business “We”
    Speaker: Cindy Tran (Obsidian Entertainment), Antonio Cara (DeNA Corp.), Harper Jay MacIntyre (Double Fine Productions Inc), Livvy Hall (Xbox Game Studios Publishing), Megan Spurr (Microsoft)
    Date: Monday, March 17
    Time: 10:50am – 11:50am
    Location: Room 2014, West Hall

    Live Service Games Summit: Reinventing ‘Candy Crush Soda’ for the Next 10 years
    Speaker: Abigail Rindo (King), Paul Hellier (King)
    Date: Monday, March 17
    Time: 10:50am – 11:50am
    Location: Room 2006, West Hall

    Animation Summit: ‘Diablo 4’: Bringing to Life the Priestess of Hatred
    Speaker: Chad Waldschmidt (Blizzard Entertainment)
    Date: Monday, March 17
    Time: 3:50 pm – 4:20 pm
    Location: Room 2018, West Hall

    UX Summit: Making the World Playful: The Importance of Accessible Mobile Games
    Speaker:
    Emilio Jeldrez (King)
    Date: Monday, March 17
    Time: 5:30pm – 6:00pm
    Location: Room 2010, West Hall

    Tuesday, March 18

    Live Service Games Summit: Mass Engagement Winning Strategies: The 15M Player Tournament of ‘Candy Crush Saga’
    Speaker: Margaux Diaz (King), Roberto Kusabbi (King)
    Date: Tuesday, March 18
    Time: 9:30am – 10:30am
    Location: Room 2006, West Hall

    Thriving Players Summit: Prosocial Design Workshop
    Speaker:
    Natasha Miller (Blizzard Entertainment), Weszt Hart (Riot Games)
    Date: Tuesday, March 18
    Time: 9:30am – 11;50am
    Location: Room 3005, West Hall

    The Climate Crisis Workshop
    Speaker: Grant Shonkwiler (Shonkventures LLC), Trevin York (Dire Lark), Paula Angela Escuadra (Microsoft / Xbox), Jennifer Estaris (ustwo games), Arnaud Fayolle (Ubisoft)
    Date: Tuesday, March 18
    Time: 10:00am – 6:00pm
    Location: Room 204, South Hall

    Gaming Reimagined: Mobile’s Impact on Play Today (Presented by King)
    Speaker: Todd Green (King), Paula Ingvar (King), Peiwen Yao (Blizzard Entertainment)
    Date: Tuesday, March 18
    Time: 10:50am – 11:50am
    Location: Room 2000, West Hall

    Unpacking Anti-Toxicity Strategy in “Call of Duty” (Presented by Community Clubhouse)
    Speaker: Mark Frumkin (Modulate), Grant Cahill (Activision)
    Date: Tuesday, March 18
    Time: 2:40pm – 3:40pm
    Location: Esplanade 158, South Hall

    Live Service Games Summit: Game Designer’s Notebook
    Speakers: Marta Cortiñas (King), Kenny Dinkin (King)
    Time: 2:40pm – 3:40pm
    Location: Room 2006, West Hall

    Wednesday, March 19

    Opening a Billion Doors with Xbox (Presented by Microsoft)
    Speaker: Leo Olebe (Microsoft), Chris Charla (Microsoft)
    Date: Wednesday, March 19
    Time: 12:30pm – 1:30pm
    Location: Room 3022, West Hall

    Accelerating Your Inner Loop with Visual Studio and GitHub Copilot AI (Presented by Microsoft)
    Speaker: David Li (Microsoft), Michael Price (Microsoft)
    Date: Wednesday, March 19
    Time: 12:30pm – 1:30pm
    Location: GDC Industry Stage, Expo Floor, South Hall

    Grow Your Audience with the Updated Xbox Experience on PC (Presented by Microsoft)
    Speaker:
    Tila Nguyen (Microsoft), Jose Rady (Microsoft)
    Date: Wednesday, March 19
    Time: 2:00pm – 3:00pm
    Location: GDC Industry Stage, Expo Floor, South Hall

    Make your Game Available ANYWHERE with Xbox Cloud Gaming (Presented by Microsoft)
    Speaker: Harrison Hoffman (Microsoft), Jordan Cohen (Microsoft)
    Date: Wednesday, March 19
    Time: 2:00pm – 3:00pm
    Location: Room 2000, West Hall

    Masterworking Systems: Lessons Learned from the Engineering of Season of Loot Reborn in ‘Diablo IV’
    Speaker: Patrick Ferland (Blizzard Entertainment)
    Date: Wednesday, March 19
    Time: 2:00pm – 3:00pm
    Location: Room 2006, West Hall

    Ask Game Lawyers Anything Roundtable Day 1
    Speaker: Ryan Black (DLA Piper (Canada) LLP), Brandon Huffman (Odin Law and Media), Angelo Alcid (Microsoft Corp.), Yan Perng (Netflix)
    Date: Wednesday, March 19
    Time: 3:30pm – 4:30pm
    Location: Room 308, South Hall

    Xbox Game Studios Panel: Scaling Cross-Platform Development Across Xbox and PC (Presented by Microsoft)
    Speaker: Kate Rayner (Microsoft), Soren Hannibal Nielsen (Microsoft, Chuck Rozhon (Obsidion Entertainment), Chad Dawson (Double Fine Productions) Phil Cousins (Microsoft), Magnus Auvinen (Machine Games)
    Date: Wednesday, March 19
    Time: 3:30pm – 4:30pm
    Location: Room 2000, West Hall

    Thursday, March 20

    DirectX State of the Union: Raytracing and PIX Workflows (Presented by Microsoft)
    Speaker: Claire Andrews (Microsoft), Austin Kinross (Microsoft)
    Date: Thursday, March 20
    Time: 9:30am – 10:30am
    Location: Room 2009, West Hall

    VFX Storytelling: How “Hearthstone” Breathes Life Into Hundreds of Cards
    Speaker: Alex Cortes (Blizzard Entertainment)
    Date: Thursday, March 20
    Time: 11:00am – 12:00pm
    Location: Room 2006, West Hall

    Strategies for Indie Devs: How to Succeed with Xbox (Presented by Microsoft)
    Speaker: James Lewis (Microsoft)
    Date: Thursday, March 20
    Time: 11:30am – 12:30pm
    Location: GDC Industry Stage, Expo Floor, South Hall

    G.A.N.G. Demo Derby: Sound Design
    Speaker: Nick Hartman (Sound Lab), Scott Gershin (Sound Lab), Charles Deenen (Source Sound Inc), Gary Miranda (Injected Senses Audio), Brian Farr (Blizzard Entertainment)
    Date: Thursday, March 20
    Time: 12:15pm – 1:45pm
    Location: Room 3018, West Hall

    From Idea to Action: Lessons from a New Accessibility Initiative (Presented by The Entertainment Software Association)
    Speaker: Aubrey Quinn  (Entertainment Software Association), Paul Amadeus Lane  (Amadeus 4th Corp), Amy Lazarus  (Electronic Arts), Dara Monasch  (Google), Anna Waismeyer  (Microsoft/Xbox), Steven Evans  (Nintendo of America), David Tisserand  (Ubisoft)
    Date: Thursday, March 20
    Time: 12:15pm – 1:15pm
    Location: GDC Main Stage, West Hall, Street Level

    Windows Productivity Tools for Game Developers (Presented by Microsoft)
    Speaker: Demitrius Nelon (Microsoft), Kayla Cinnamon (Microsoft)
    Date: Thursday, March 20
    Time: 12:15pm – 1:15pm
    Location: Room 2024, West Hall

    Securing the Joy of Gaming: Xbox’s Commitment to Gaming Security and Innovation (Presented by Microsoft)
    Speaker: Temi Adebambo (Microsoft)
    Date: Thursday, March 20
    Time: 2:00pm – 3:00pm
    Location: GDC Industry Stage, Expo Floor, South Hall

    Xbox Play Anywhere Developer Roundtable (Presented by Microsoft)
    Speaker: Chris Charla (Microsoft)
    Date: Thursday, March 20
    Time: 2:00pm – 3:00pm
    Location: Room 2004, West Hall

    King: Enhancing Mobile Audio with Accessibility and Inclusion
    Speaker: Eduardo Broseta  (King)
    Date: Thursday, March 20
    Time: 2:30pm – 3:00pm
    Location: Room 3024, West Hall

    Friday, March 21

    Game Career Seminar: STR, DEX and INT: A Genre-Spanning Way to Think About Gameplay
    Speaker: Joseph Shely  (Blizzard Entertainment)
    Date: Friday, March 21
    Time: 11:50am – 12:20pm
    Location: Room 3005, West Hall

    Game Career Seminar: Killer Portfolio or Portfolio Killer Part 2: Portfolio Reviews
    Speakers:
    Greg Foertsch  (Bit Reactor), Sarah LeBlanc  (Bit Reactor), Rembert Montald  (Lightspeed LA), David Yee  (Unannounced), Jeffrey Johnson  (inXile Entertainment), Jade Law  (Wardog Studios), Gaurav Mathur  (E-Line Media), Jessica Kutrakun  (Hypixel Studios), Inmar Salvatier  (Maxis), Jeff Parrott  (Blizzard), Daanish Syed  (Bit Reactor), David Johnson  (UndertoneFX), Jeff Skalski  (Yellow Brick Games)
    Date:
    Friday, March 21
    Time:
    2:00pm – 5:00pm
    Location:
    Room 3000, West Hall

    MIL OSI Economics –

    February 27, 2025
  • MIL-OSI: Urgently Announces Capital Structure Improvements and Secures up to $20 Million in New Financing

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Va., Feb. 26, 2025 (GLOBE NEWSWIRE) — Urgent.ly Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, announced today that it has reached an agreement with its lenders resulting in significant capital structure improvements. Urgently has entered into a new credit agreement for an asset-based revolving credit facility for up to $20 million with MidCap Financial, which will be used to repay existing indebtedness to its first lien lenders and to help the Company advance its mission to transform the legacy roadside assistance market and to develop and define the new market for connected mobility assistance services for automotive, insurance, fleet, logistics, new mobility and technology transportation companies.

    “We are pleased to have announced our new credit facility, as well as the repayment of a significant amount of debt to our existing lenders,” said Tim Huffmyer, Chief Financial Officer of Urgently. “The new debt facility will support the business as we continue to transform the legacy roadside assistance market and to develop new connected mobility assistance services on a global scale. We appreciate MidCap Financial’s partnership and relationship-oriented approach.”

    Garrett Fletcher, President of Structured Finance at MidCap Financial, commented, “Urgently is a leading mobility services platform that utilizes technology to improve the consumer roadside experience. Given their continued improvement in financial performance, we are excited to partner with Urgently and support their ongoing efforts to capitalize and further strengthen their business.”

    Certain funds managed by Highbridge Capital Management, LLC (“Highbridge”), Onex Credit and Whitebox Advisors have also agreed to forego the repayment of certain fees under the company’s second lien agreements in exchange for the issuance of 1,358,073 shares of Urgently’s common stock and an extension of its second lien term loans until July 31, 2026.

    “We appreciate the support of Highbridge, Onex Credit and Whitebox Advisors as they extend their partnership with the Urgently team,” said Matt Booth, CEO of Urgently. “Their continued support is indicative of the confidence that exists among leading financial, automotive, mobility and strategic investors in the strong business we’ve built. These capital structure improvements will allow us to strengthen our commitment to our partners, service providers and consumers, as we continue to transform the market with our market-leading digital platforms, products and solutions.”

    Chardan served as exclusive financial advisor to Urgently to support the transaction.

    About Urgently

    Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.

    For media and investment inquiries, please contact:

    Press: media@geturgently.com

    Investor Relations: investorrelations@geturgently.com

    About MidCap Financial

    MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2024, MidCap Financial provides administrative or other services for over $53 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $751 billion as of December 31, 2024, in credit, private equity and real assets funds. 

    For more information about MidCap Financial, please visit http://www.midcapfinancial.com.

    For more information about Apollo, please visit http://www.apollo.com.

    *Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

    Forward-Looking Statements

    This press release contains or may contain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Urgently’s future financial or operating performance. Such statements are based upon current plans, estimates and expectations of management of Urgently in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “predict,” “target,” “believe,” “continue,” “estimate” or “expect” or the negative of these words or other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements, other than historical facts, including, without limitation, statements regarding Urgently’s ability to successfully deploy the capital from the new debt facility and repay its new and existing debt facilities, are based on the current assumptions of Urgently’s management and are neither promises nor guarantees, but involve a significant number of factors that may cause our actual performance or achievements to be materially different from any future performance or achievements stated or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties detailed in our filings with the Securities and Exchange Commission (“SEC”), including in our annual report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on March 29, 2024, our quarterly reports on Form 10-Q, including our quarterly report on Form 10-Q for the quarter ended September 30, 2024, which was filed with the SEC on November 13, 2024, and other filings and reports that we may file from time to time with the SEC. All forward-looking statements reflect Urgently’s beliefs and assumptions only as of the date of this press release. Urgently undertakes no obligation to update forward-looking statements to reflect future events or circumstances.

    The MIL Network –

    February 27, 2025
  • MIL-OSI: Nutanix Reports Second Quarter Fiscal 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Delivers Outperformance Across All Guided Metrics

    Reports 19% YoY ARR Growth and Strong Free Cash Flow

    SAN JOSE, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) — Nutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its second quarter ended January 31, 2025.

    “During our second quarter we delivered outperformance across our guided metrics,” said Rajiv Ramaswami, President and CEO of Nutanix. “Our results are benefiting from the strength of the Nutanix Cloud Platform, demand from businesses looking for a trusted long-term partner committed to innovation and customer care, and go-to-market leverage from our partnerships and programs.”

    “Our second quarter results included 19% year-over-year ARR growth and strong year-to-date free cash flow generation, reflecting our focus on delivering sustainable, profitable growth,” said Rukmini Sivaraman, CFO of Nutanix. “We also recently strengthened our balance sheet and increased our financial flexibility with the issuance of convertible notes at attractive terms and by establishing a new revolving credit facility.”

    Second Quarter Fiscal 2025 Financial Summary

      Q2 FY’25 Q2 FY’24 Y/Y Change
    Annual Recurring Revenue (ARR)¹ $2.06 billion $1.74 billion 19%
    Average Contract Duration² 3.0 years 2.8 years 0.2 year
    Revenue $654.7 million $565.2 million 16%
    GAAP Gross Margin 87.0% 85.6% 140 bps
    Non-GAAP Gross Margin 88.3% 87.3% 100 bps
    GAAP Operating Expenses $504.0 million $446.6 million 13%
    Non-GAAP Operating Expenses $417.0 million $369.4 million 13%
    GAAP Operating Income $65.4 million $37.0 million $28.4 million
    Non-GAAP Operating Income $161.3 million $123.9 million $37.4 million
    GAAP Operating Margin 10.0% 6.6% 340 bps
    Non-GAAP Operating Margin 24.6% 21.9% 270 bps
    Net Cash Provided by Operating Activities $221.7 million $186.4 million $35.3 million
    Free Cash Flow $187.1 million $162.6 million $24.5 million

    Reconciliations between GAAP and non-GAAP financial measures and key performance measures, to the extent available, are provided in the tables of this press release.

    Recent Company Highlights

    Third Quarter Fiscal 2025 Outlook

       
    Revenue $620 – $630 million
    Non-GAAP Operating Margin 17% to 18%
    Weighted Average Shares Outstanding (Diluted)³ Approximately 296 million


    Fiscal 2025 Outlook

       
    Revenue $2.495 – $2.515 billion
    Non-GAAP Operating Margin 17.5% to 18.5%
    Free Cash Flow $650 – $700 million

    Supplementary materials to this press release, including our second quarter fiscal 2025 earnings presentation, can be found at https://ir.nutanix.com/financial/quarterly-results.

    Webcast and Conference Call Information

    Nutanix executives will discuss the Company’s second quarter fiscal 2025 financial results on a conference call today at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time. Interested parties may access the conference call by registering at this link to receive dial in details and a unique PIN number. The conference call will also be webcast live on the Nutanix Investor Relations website at ir.nutanix.com. An archived replay of the webcast will be available on the Nutanix Investor Relations website at ir.nutanix.com shortly after the call.

    Footnotes

    ¹Annual Recurring Revenue, or ARR, for any given period, is defined as the sum of ACV for all subscription contracts in effect as of the end of a specific period. For the purposes of this calculation, we assume that the contract term begins on the date a contract is booked, unless the terms of such contract prevent us from fulfilling our obligations until a later period, and irrespective of the periods in which we would recognize revenue for such contract. Excludes all life-of-device contracts. ACV is defined as the total annualized value of a contract. The total annualized value for a contract is calculated by dividing the total value of the contract by the number of years in the term of such contract. Excludes amounts related to professional services and hardware.

    ²Average Contract Duration represents the dollar-weighted term, calculated on a billings basis, across all subscription contracts, as well as our limited number of life-of-device contracts, using an assumed term of five years for life-of-device licenses, executed in the period.

    ³Weighted average share count used in computing diluted non-GAAP net income per share.

    Non-GAAP Financial Measures and Other Key Performance Measures

    To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, this press release includes the following non-GAAP financial and other key performance measures: non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, free cash flow, Annual Recurring Revenue (or ARR), and Average Contract Duration. In computing non-GAAP financial measures, we exclude certain items such as stock-based compensation and the related income tax impact, costs associated with our acquisitions (such as amortization of acquired intangible assets, income tax-related impact, and other acquisition-related costs), restructuring charges, litigation settlement accruals and legal fees related to certain litigation matters, the amortization and conversion of the debt discount and issuance costs related to convertible senior notes, interest expense related to convertible senior notes, inducement expense related to the repurchase of convertible senior notes, and other non-recurring transactions and the related tax impact. Non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, and non-GAAP operating margin are financial measures which we believe provide useful information to investors because they provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures such as stock-based compensation expense that may not be indicative of our ongoing core business operating results. Free cash flow is a performance measure that we believe provides useful information to our management and investors about the amount of cash generated by the business after capital expenditures, and we define free cash flow as net cash provided by (used in) operating activities less purchases of property and equipment. ARR is a performance measure that we believe provides useful information to our management and investors as it allows us to better track the topline growth of our subscription business because it takes into account variability in term lengths. We use these non-GAAP financial and key performance measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. However, these non-GAAP financial and key performance measures have limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP. Non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, and free cash flow are not substitutes for gross margin, operating expenses, operating income (loss), operating margin, or net cash provided by (used in) operating activities, respectively. There is no GAAP measure that is comparable to ARR or Average Contract Duration, so we have not reconciled the ARR or Average Contract Duration data included in this press release to any GAAP measure. In addition, other companies, including companies in our industry, may calculate non-GAAP financial measures and key performance measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures and key performance measures as tools for comparison. We urge you to review the reconciliation of our non-GAAP financial measures and key performance measures to the most directly comparable GAAP financial measures included below in the tables captioned “Reconciliation of GAAP to Non-GAAP Profit Measures” and “Reconciliation of GAAP Net Cash Provided By Operating Activities to Non-GAAP Free Cash Flow,” and not to rely on any single financial measure to evaluate our business. This press release also includes the following forward-looking non-GAAP financial measures as part of our third quarter fiscal 2025 outlook and/or our fiscal 2025 outlook: non-GAAP operating margin and free cash flow. We are unable to reconcile these forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures without unreasonable efforts, as we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact the GAAP financial measures for these periods but would not impact the non-GAAP financial measures.

    Forward-Looking Statements

    This press release contains express and implied forward-looking statements, including, but not limited to, statements regarding: our business momentum and prospects, including the strength of our platform, demand from businesses looking for a long-term partner committed to innovation and customer care, and go-to-market leverage from our partnerships; our focus on delivering sustainable, profitable growth; our third quarter fiscal 2025 outlook; and our fiscal 2025 outlook.

    These forward-looking statements are not historical facts and instead are based on our current expectations, estimates, opinions, and beliefs. Consequently, you should not rely on these forward-looking statements. The accuracy of these forward-looking statements depends upon future events and involves risks, uncertainties, and other factors, including factors that may be beyond our control, that may cause these statements to be inaccurate and cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by such statements, including, among others: the inherent uncertainty or assumptions and estimates underlying our projections and guidance, which are necessarily speculative in nature; any failure to successfully implement or realize the full benefits of, or unexpected difficulties or delays in successfully implementing or realizing the full benefits of, our business plans, strategies, initiatives, vision, objectives, momentum, prospects and outlook; our ability to achieve, sustain and/or manage future growth effectively; the rapid evolution of the markets in which we compete, including the introduction, or acceleration of adoption of, competing solutions, including public cloud infrastructure; failure to timely and successfully meet our customer needs; delays in or lack of customer or market acceptance of our new solutions, products, services, product features or technology; macroeconomic or geopolitical uncertainty; our ability to attract, recruit, train, retain, and, where applicable, ramp to full productivity, qualified employees and key personnel; factors that could result in the significant fluctuation of our future quarterly operating results (including anticipated changes to our revenue and product mix, the timing and magnitude of orders, shipments and acceptance of our solutions in any given quarter, our ability to attract new and retain existing end-customers, changes in the pricing and availability of certain components of our solutions, and fluctuations in demand and competitive pricing pressures for our solutions); our ability to form new or maintain and strengthen existing strategic alliances and partnerships, as well as our ability to manage any changes thereto; our ability to make share repurchases; and other risks detailed in our Annual Report on Form 10-K for the fiscal year ended July 31, 2024 filed with the U.S. Securities and Exchange Commission, or the SEC, on September 19, 2024 and our subsequent Quarterly Reports on Form 10-Q filed with the SEC. Additional information will be set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2025, which should be read in conjunction with this press release and the financial results included herein. Our SEC filings are available on the Investor Relations section of our website at ir.nutanix.com and on the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date of this press release and, except as required by law, we assume no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any of these forward-looking statements to reflect actual results or subsequent events or circumstances.

    About Nutanix

    Nutanix is a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. With Nutanix, companies can reduce complexity and simplify operations, freeing them to focus on their business outcomes. Building on its legacy as the pioneer of hyperconverged infrastructure, Nutanix is trusted by companies worldwide to power hybrid multicloud environments consistently, simply, and cost-effectively. Learn more at www.nutanix.com or follow us on social media @nutanix.

    © 2025 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or unregistered trademarks of Nutanix, Inc. (“Nutanix”) in the United States and other countries. Other brand names or marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release is for informational purposes only and nothing herein constitutes a warranty or other binding commitment by Nutanix.

    Investor Contact:
    Richard Valera
    ir@nutanix.com

    Media Contact:
    Jennifer Massaro
    pr@nutanix.com

     
    NUTANIX, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
     
        As of
        July 31,
    2024
      January 31,
    2025
        (in thousands)
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 655,270     $ 1,072,161  
    Short-term investments     339,072       670,686  
    Accounts receivable, net     229,796       327,294  
    Deferred commissions—current     159,849       153,330  
    Prepaid expenses and other current assets     97,307       111,923  
    Total current assets     1,481,294       2,335,394  
    Property and equipment, net     136,180       138,753  
    Operating lease right-of-use assets     109,133       112,051  
    Deferred commissions—non-current     198,962       184,904  
    Intangible assets, net     5,153       3,443  
    Goodwill     185,235       185,235  
    Other assets—non-current     27,961       29,210  
    Total assets   $ 2,143,918     $ 2,988,990  
    Liabilities and Stockholders’ Deficit            
    Current liabilities:            
    Accounts payable   $ 45,066     $ 45,903  
    Accrued compensation and benefits     195,602       203,040  
    Accrued expenses and other current liabilities     24,967       22,428  
    Deferred revenue—current     954,543       1,024,364  
    Operating lease liabilities—current     24,163       21,819  
    Total current liabilities     1,244,341       1,317,554  
    Deferred revenue—non-current     918,163       995,173  
    Operating lease liabilities—non-current     90,359       93,828  
    Convertible senior notes, net     570,073       1,341,388  
    Other liabilities—non-current     49,130       48,721  
    Total liabilities     2,872,066       3,796,664  
    Stockholders’ deficit:            
    Common stock     7       7  
    Additional paid-in capital     4,118,898       4,120,529  
    Accumulated other comprehensive loss     146       404  
    Accumulated deficit     (4,847,199 )     (4,928,614 )
    Total stockholders’ deficit     (728,148 )     (807,674 )
    Total liabilities and stockholders’ deficit   $ 2,143,918     $ 2,988,990  
    NUTANIX, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
     
        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands, except per share data)
    Revenue:                        
    Product   $ 299,660     $ 354,187     $ 546,582     $ 656,106  
    Support, entitlements and other services     265,573       300,534       529,705       589,571  
    Total revenue     565,233       654,721       1,076,287       1,245,677  
    Cost of revenue:                        
    Product (1)(2)     9,402       8,823       19,636       17,193  
    Support, entitlements and other services (1)     72,154       76,465       143,879       150,765  
    Total cost of revenue     81,556       85,288       163,515       167,958  
    Gross profit     483,677       569,433       912,772       1,077,719  
    Operating expenses:                        
    Sales and marketing (1)(2)     236,702       261,382       472,025       514,783  
    Research and development (1)     160,401       182,785       312,376       356,744  
    General and administrative (1)     49,529       59,828       97,032       113,504  
    Total operating expenses     446,632       503,995       881,433       985,031  
    Income from operations     37,045       65,438       31,339       92,688  
    Other income (expense), net     2,096       (355 )     (3,179 )     9,218  
    Income before provision for income taxes     39,141       65,083       28,160       101,906  
    Provision for income taxes     6,346       8,656       11,218       15,553  
    Net income   $ 32,795     $ 56,427     $ 16,942     $ 86,353  
    Net income per share attributable to Class A common stockholders, basic   $ 0.13     $ 0.21     $ 0.07     $ 0.32  
    Net income per share attributable to Class A common stockholders, diluted   $ 0.12     $ 0.19     $ 0.09     $ 0.30  
    Weighted average shares used in computing net income per share attributable to Class A common stockholders, basic     243,853       267,138       242,667       266,842  
    Weighted average shares used in computing net income per share attributable to Class A common stockholders, diluted     298,540       293,351       294,851       291,086  

    ____________________________
    (1) Includes the following stock-based compensation expense:

        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands)
    Product cost of revenue   $ 1,697     $ 812     $ 3,625     $ 2,024  
    Support, entitlements and other services cost of revenue     7,183       7,325       14,299       14,145  
    Sales and marketing     20,738       21,397       42,209       42,045  
    Research and development     40,541       46,765       78,945       90,327  
    General and administrative     15,810       17,129       30,889       33,636  
    Total stock-based compensation expense   $ 85,969     $ 93,428     $ 169,967     $ 182,177  

    ____________________________
    (2) Includes the following amortization of intangible assets:

        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands)
    Product cost of revenue   $ 749     $ 767     $ 1,860     $ 1,534  
    Sales and marketing     82       88       119       176  
    Total amortization of intangible assets   $ 831     $ 855     $ 1,979     $ 1,710  
    NUTANIX, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
     
        Six Months Ended
    January 31,
        2024   2025
        (in thousands)
    Cash flows from operating activities:            
    Net income   $ 16,942     $ 86,353  
    Adjustments to reconcile net income to net cash provided by operating activities:            
    Depreciation and amortization     36,389       36,427  
    Stock-based compensation     169,967       182,177  
    Amortization of debt discount and issuance costs     22,300       1,185  
    Inducement expense from partial repurchase of the 2027 Notes     —       11,347  
    Operating lease cost, net of accretion     16,046       13,962  
    Non-cash interest expense     10,064       —  
    Other     (8,859 )     (2,130 )
    Changes in operating assets and liabilities:            
    Accounts receivable, net     (19,662 )     (72,745 )
    Deferred commissions     4,830       20,577  
    Prepaid expenses and other assets     40,575       (5,833 )
    Accounts payable     8,695       (334 )
    Accrued compensation and benefits     34,158       7,792  
    Accrued expenses and other liabilities     (86,009 )     (1,680 )
    Operating leases, net     (14,884 )     (15,754 )
    Deferred revenue     101,329       122,077  
        Net cash provided by operating activities     331,881       383,421  
    Cash flows from investing activities:            
    Maturities of investments     429,219       162,139  
    Purchases of investments     (455,254 )     (493,156 )
    Payments for acquisitions, net of cash acquired     (4,500 )     —  
    Purchases of property and equipment     (36,784 )     (44,438 )
        Net cash used in investing activities     (67,319 )     (375,455 )
    Cash flows from financing activities:            
    Proceeds from sales of shares through employee equity incentive plans     15,153       29,300  
    Taxes paid related to net share settlement of equity awards     (53,180 )     (148,194 )
    Proceeds from the issuance of convertible notes, net of issuance costs     —       848,010  
    Payment of third-party debt issuance costs     —       (2,771 )
    Partial repurchase of the 2027 Notes     —       (95,453 )
    Repurchases of common stock     (59,192 )     (220,100 )
    Payment of finance lease obligations     (1,758 )     (1,945 )
        Net cash (used in) provided by financing activities     (98,977 )     408,847  
    Net increase in cash, cash equivalents and restricted cash   $ 165,585     $ 416,813  
    Cash, cash equivalents and restricted cash—beginning of period     515,771       655,662  
    Cash, cash equivalents and restricted cash—end of period   $ 681,356     $ 1,072,475  
    Restricted cash(1)     2,110       314  
    Cash and cash equivalents—end of period   $ 679,246     $ 1,072,161  
    Supplemental disclosures of cash flow information:            
    Cash paid for income taxes   $ 14,168     $ 19,283  
    Supplemental disclosures of non-cash investing and financing information:            
    Purchases of property and equipment included in accounts payable and accrued and other liabilities   $ 1,648     $ 1,601  
    Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other liabilities   $ —     $ 11,460  

    ____________________________
    (1) Included within other assets—non-current in the condensed consolidated balance sheets.

    Reconciliation of Revenue to Billings
    (Unaudited)
     
        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands)
    Total revenue   $ 565,233     $ 654,721     $ 1,076,287     $ 1,245,677  
    Change in deferred revenue     51,250       121,637       101,329       122,077  
    Total billings   $ 616,483     $ 776,358     $ 1,177,616     $ 1,367,754  
    Disaggregation of Revenue and Billings
    (Unaudited)
     
        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands)
    Disaggregation of revenue:                        
    Subscription revenue   $ 531,983     $ 624,418     $ 1,011,461     $ 1,185,114  
    Professional services revenue     25,008       28,030       47,843       55,315  
    Other non-subscription product revenue     8,242       2,273       16,983       5,248  
    Total revenue   $ 565,233     $ 654,721     $ 1,076,287     $ 1,245,677  
    Disaggregation of billings:                        
    Subscription billings   $ 572,759     $ 733,737     $ 1,101,673     $ 1,298,029  
    Professional services billings     35,482       40,348       58,960       64,477  
    Other non-subscription product billings     8,242       2,273       16,983       5,248  
    Total billings   $ 616,483     $ 776,358     $ 1,177,616     $ 1,367,754  


    Subscription revenue —
    Subscription revenue includes any performance obligation which has a defined term, and is generated from the sales of software entitlement and support subscriptions, subscription software licenses and cloud-based software-as-a-service, or SaaS, offerings.

    • Ratable — We recognize revenue from software entitlement and support subscriptions and SaaS offerings ratably over the contractual service period, the substantial majority of which relate to software entitlement and support subscriptions.
    • Upfront — Revenue from our subscription software licenses is generally recognized upfront upon transfer of control to the customer, which happens when we make the software available to the customer.

    Professional services revenue — We also sell professional services with our products. We recognize revenue related to professional services as they are performed.

    Other non-subscription product revenue — Other non-subscription product revenue includes approximately $7.0 million and $15.2 million of non-portable software revenue for the three and six months ended January 31, 2024, respectively, $0.5 million and $2.3 million of non-portable software revenue for the three and six months ended January 31, 2025, respectively, $1.2 million and $1.8 million of hardware revenue for the three and six months ended January 31, 2024, respectively, and $1.8 million and $2.9 million of hardware revenue for the three and six months ended January 31, 2025, respectively.

    • Non-portable software revenue — Non-portable software revenue includes sales of our platform when delivered on a configured-to-order appliance by us or one of our OEM partners. The software licenses associated with these sales are typically non-portable and can be used over the life of the appliance on which the software is delivered. Revenue from our non-portable software products is generally recognized upon transfer of control to the customer.
    • Hardware revenue — In the infrequent transactions where the hardware appliance is purchased directly from Nutanix, we consider ourselves to be the principal in the transaction and we record revenue and costs of goods sold on a gross basis. We consider the amount allocated to hardware revenue to be equivalent to the cost of the hardware procured. Hardware revenue is generally recognized upon transfer of control to the customer.
    Annual Recurring Revenue
    (Unaudited)
     
        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024
      2025
      2024
      2025
        (in thousands)
    Annual Recurring Revenue (ARR)   $ 1,737,364     $ 2,059,506     $ 1,737,364     $ 2,059,506  
    Reconciliation of GAAP to Non-GAAP Profit Measures
    (Unaudited)
     
        GAAP   Non-GAAP Adjustments   Non-GAAP
        Three Months Ended January 31, 2025   (1)   (2)   (3)   (4)   (5)   (6)   (7)   Three Months Ended January 31, 2025
        (in thousands, except percentages and per share data)
    Gross profit   $ 569,433     $ 8,137     $ 767     $ —     $ —     $ —     $ —     $ —     $ 578,337  
    Gross margin     87.0 %     1.2 %     0.1 %     —       —       —       —       —       88.3 %
    Operating expenses:                                                      
    Sales and marketing     261,382       (21,397 )     (88 )     —       —       —       —       —       239,897  
    Research and development     182,785       (46,765 )     —       —       —       —       —       —       136,020  
    General and administrative     59,828       (17,129 )     —       (1,568 )     —       —       —       —       41,131  
    Total operating expenses     503,995       (85,291 )     (88 )     (1,568 )     —       —       —       —       417,048  
    Income from operations     65,438       93,428       855       1,568       —       —       —       —       161,289  
    Operating margin     10.0 %     14.3 %     0.1 %     0.2 %     —       —       —       —       24.6 %
    Net income   $ 56,427     $ 93,428     $ 855     $ 1,568     $ (20 )   $ 1,674     $ 11,347     $ (151 )   $ 165,128  
    Weighted shares outstanding, basic     267,138                                                 267,138  
    Weighted shares outstanding, diluted (8)     293,351                                                 293,351  
    Net income per share, basic   $ 0.21     $ 0.35     $ –     $ 0.01     $ –     $ 0.01     $ 0.04     $ –     $ 0.62  
    Net income per share, diluted (9)   $ 0.19                                               $ 0.56  

    ____________________________
    (1) Stock-based compensation expense
    (2) Amortization of intangible assets
    (3) Legal fees
    (4) Other
    (5) Amortization of debt issuance costs and interest expense related to convertible senior notes
    (6) Inducement expense related to partial repurchase of the 2027 Notes
    (7) Income tax effect primarily related to stock-based compensation expense
    (8) Includes 26,214 potentially dilutive shares related to convertible senior notes and the issuance of shares under employee equity incentive plans
    (9) In accordance with ASC 260, in order to calculate GAAP net income per share, diluted, the numerator has been adjusted to add back $691 of interest expense related to the convertible senior notes

        GAAP   Non-GAAP Adjustments   Non-GAAP
        Six Months Ended January 31, 2025   (1)   (2)   (3)   (4)   (5)   (6)   (7)   Six Months Ended January 31, 2025
        (in thousands, except percentages and per share data)
    Gross profit   $ 1,077,719     $ 16,169     $ 1,534     $ —     $ —     $ —     $ —     $ —     $ 1,095,422  
    Gross margin     86.5 %     1.3 %     0.1 %     —       —       —       —       —       87.9 %
    Operating expenses:                                                      
    Sales and marketing     514,783       (42,045 )     (176 )     —       —       —       —       —       472,562  
    Research and development     356,744       (90,327 )     —       —       —       —       —       —       266,417  
    General and administrative     113,504       (33,636 )     —       (2,935 )     —       —       —       —       76,933  
    Total operating expenses     985,031       (166,008 )     (176 )     (2,935 )     —       —       —       —       815,912  
    Income from operations     92,688       182,177       1,710       2,935       —       —       —       —       279,510  
    Operating margin     7.4 %     14.7 %     0.1 %     0.2 %     —       —       —       —       22.4 %
    Net income   $ 86,353     $ 182,177     $ 1,710     $ 2,935     $ (130 )   $ 11,347     $ 2,419     $ 90     $ 286,901  
    Weighted shares outstanding, basic     266,842                                                 266,842  
    Weighted shares outstanding, diluted (8)     291,086                                                 291,086  
    Net income per share, basic   $ 0.32     $ 0.69     $ 0.01     $ 0.01     $ –     $ 0.04     $ 0.01     $ –     $ 1.08  
    Net income per share, diluted (9)   $ 0.30                                               $ 0.99  

    ____________________________
    (1) Stock-based compensation expense
    (2) Amortization of intangible assets
    (3) Legal fees
    (4) Other
    (5) Inducement expense related to partial repurchase of the 2027 Notes
    (6) Amortization of debt issuance costs and interest expense related to convertible senior notes
    (7) Income tax effect primarily related to stock-based compensation expense
    (8) Includes 24,243 potentially dilutive shares related to convertible senior notes and the issuance of shares under employee equity incentive plans
    (9) In accordance with ASC 260, in order to calculate GAAP net income per share, diluted, the numerator has been adjusted to add back $975 of interest expense related to the convertible senior notes

        GAAP
      Non-GAAP Adjustments   Non-GAAP
        Three Months Ended January 31, 2024   (1)   (2)   (3)   (4)   (5)   (6)   Three Months Ended January 31, 2024
        (in thousands, except percentages and per share data)
    Gross profit   $ 483,677     $ 8,880     $ 749     $ —     $ —     $ —     $ —     $ 493,306  
    Gross margin     85.6 %     1.6 %     0.1 %     —       —       —       —       87.3 %
    Operating expenses:                                                
    Sales and marketing     236,702       (20,738 )     (82 )     194       —       —       —       216,076  
    Research and development     160,401       (40,541 )     —       —       —       —       —       119,860  
    General and administrative     49,529       (15,810 )     —       —       (227 )     —       —       33,492  
    Total operating expenses     446,632       (77,089 )     (82 )     194       (227 )     —       —       369,428  
    Income from operations     37,045       85,969       831       (194 )     227       —       —       123,878  
    Operating margin     6.6 %     15.2 %     0.1 %     —       —       —       —       21.9 %
    Net income   $ 32,795     $ 85,969     $ 831     $ (194 )   $ 117     $ 16,651     $ 177     $ 136,346  
    Weighted shares outstanding, basic     243,853                                           243,853  
    Weighted shares outstanding, diluted (7)     298,540                                           298,540  
    Net income per share, basic   $ 0.13     $ 0.36     $ –     $ –     $ –     $ 0.07     $ –     $ 0.56  
    Net income per share, diluted (8)   $ 0.12                                         $ 0.46  

    ____________________________
    (1) Stock-based compensation expense
    (2) Amortization of intangible assets
    (3) Restructuring charges (reversals)
    (4) Other
    (5) Amortization of debt discount and issuance costs and interest expense related to convertible senior notes
    (6) Income tax effect primarily related to stock-based compensation expense
    (7) Includes 54,687 potentially dilutive shares related to convertible senior notes and the issuance of shares under employee equity incentive plans
    (8) In accordance with ASC 260, in order to calculate GAAP net income per share, diluted, the numerator has been adjusted to add back $4,271 of interest expense related to the convertible senior notes

        GAAP   Non-GAAP Adjustments   Non-GAAP
        Six Months Ended January 31, 2024   (1)   (2)   (3)   (4)   (5)   (6)   Six Months Ended January 31, 2024
        (in thousands, except percentages and per share data)
    Gross profit   $ 912,772     $ 17,924     $ 1,860     $ —     $ —     $ —     $ —     $ 932,556  
    Gross margin     84.8 %     1.6 %     0.2 %     —       —       —       —       86.6 %
    Operating expenses:                                                
    Sales and marketing     472,025       (42,209 )     (119 )     194       —       —       —       429,891  
    Research and development     312,376       (78,945 )     —       —       —       —       —       233,431  
    General and administrative     97,032       (30,889 )     —       —       (273 )     —       —       65,870  
    Total operating expenses     881,433       (152,043 )     (119 )     194       (273 )     —       —       729,192  
    Income from operations     31,339       169,967       1,979       (194 )     273       —       —       203,364  
    Operating margin     2.9 %     15.8 %     0.2 %     —       —       —       —       18.9 %
    Net income   $ 16,942     $ 169,967     $ 1,979     $ (194 )   $ 1,083     $ 32,998     $ 451     $ 223,226  
    Weighted shares outstanding, basic     242,667                                           242,667  
    Weighted shares outstanding, diluted(7)     294,851                                           294,851  
    Net income per share, basic   $ 0.07     $ 0.70     $ 0.01     $ –     $ –     $ 0.14     $ –     $ 0.92  
    Net income per share, diluted(8)   $ 0.09                                         $ 0.76  

    ____________________________
    (1) Stock-based compensation expense
    (2) Amortization of intangible assets
    (3) Restructuring charges (reversals)
    (4) Other
    (5) Amortization of debt discount and issuance costs and interest expense related to convertible senior notes
    (6) Income tax effect primarily related to stock-based compensation expense
    (7) Includes 52,184 potentially dilutive shares related to convertible senior notes and the issuance of shares under employee equity incentive plans
    (8) In accordance with ASC 260, in order to calculate GAAP net income per share, diluted, the numerator has been adjusted to add back $8,451 of interest expense related to the convertible senior notes

    Reconciliation of GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
    (Unaudited)
     
        Three Months Ended
    January 31,
      Six Months Ended
    January 31,
        2024   2025   2024   2025
        (in thousands)  
    Net cash provided by operating activities   $ 186,408     $ 221,670     $ 331,881     $ 383,421  
    Purchases of property and equipment     (23,764 )     (34,607 )     (36,784 )     (44,438 )
    Free cash flow   $ 162,644     $ 187,063     $ 295,097     $ 338,983  

    The MIL Network –

    February 27, 2025
  • MIL-OSI: Gibson Energy Announces 2024 Key Industry-Leading Sustainability Achievements and Safety Leadership

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 26, 2025 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), a leading North American energy infrastructure company, today highlights the significant progress in its annual sustainability performance. The Company’s exceptional operational management and safety commitment to achieve zero harm to people, the environment and assets is foundational to these efforts. 2024 marked the Company’s latest safety leadership milestone by recording 8.8 million hours without a lost time injury for its employee and contract workforce.

    “Sustainable practices and operational safety will always be embedded into our day-to-day, and I’m proud of our team reaching this latest safety milestone,” said Curtis Philippon, President and Chief Executive Officer. “Looking broadly at our sustainability commitments, to be externally recognized by key global rating agencies, including the A- we recently received from the Climate Disclosure Project, scoring 96 out of 100 points in the Globe and Mail Board Games Governance Ranking and placing in the 97th percentile of all energy companies by the S&P Global Corporate Sustainability Assessment, reinforces the progress we made this year. Our focus will not change in 2025, we remain committed to safety, innovation, collaboration and accountability as we continue to work toward our ambitious goals.”

    Gibson’s sustainability strategy is built on strong governance and strategic initiatives that focus on long-term value for our shareholders, employees, communities, Indigenous Peoples, governments, customers and suppliers.

    “On behalf of the Management team, I’d also like to extend sincere thanks to our employees for their commitment to safety and our sustainability goals,” said Riley Hicks, Senior Vice President, Chief Financial Officer. “We will continue to build off this momentum, further leverage our world-class asset base and identify additional strategic growth opportunities to meet the evolving global energy demands.”

    2024 Ratings:

    The Company is proud to continue to rank at the top among its Canadian and US midstream peers, reaffirming its position as a global leader in sustainability.

    Rating Agency   Score / Ranking   Description of Score / Ranking
             
    MSCI ESG Risk Ratings   AAA   Gibson is one of only 10% of companies globally in the Oil & Gas Refining, Marketing, Transportation & Storage industry to receive this leadership rating

    Measurement of resilience to long-term, industry material ESG risks on a relative ranking from AAA being the best to CCC being the worst

    More information is available at www.msci.com

    CDP – Climate Change   A-   Maintained this leadership position within the CDP and among midstream peers for the fifth year in a row

    A- Supplier Engagement Rating

    A detailed and independent methodology is used by CDP with more information available at www.cdp.net

    S&P Global Corporate Sustainability Assessment   66   Gibson placed in the 97th percentile of all energy companies and was the highest scoring Canadian midstream company

    Gibson was recognized in the S&P Global Sustainability Yearbook for the fourth year in a row

    More information about The Sustainability Yearbook can be found here

    Sustainalytics ESG Risk Rating   16.0   Top 1% within Refiners & Pipelines industry group (2nd out of 208 companies)

    Gibson was once again recognized on the Sustainalytics 2024 Industry Top-Rated List

    More information about Sustainalytics is available at www.sustainalytics.com

    Globe and Mail Board Games Governance Ranking   12th   Top quartile, ranking 12th out of 215 companies and trusts in the S&P/TSX Composite Index

    Received a score of 96 based on a rigorous set of governance criteria on a scale of 100 being the best to 1 being the worst, tying the Company with a peer as the highest ranked energy company

             
    ISS Governance Quality Score   1   Denotes decile ranking score on a scale of 1 being the best to 10 being the worst, with a score of 1 indicating top 10% performance within Energy industry group
           
    ISS Environmental Quality Score   1  
           
    ISS Social Quality Score   2  


    Note: ESG ratings as at February 21, 2025

    Key Achievements:

    Environmental and Operations Impact

    • Published the 2023 Sustainability Report, detailing progress toward ambitious 2025 and 2030 ESG targets, including the Net Zero by 2050 commitment for Scope 1 and 2 emissions
    • Gibson, in its pursuit of Mission Zero, recorded 8.8 million hours without a lost time injury for its employee and contract workforce
    • Successfully completed the Gateway Terminal acquisition and implemented several key mitigation strategies to safeguard marine environments
    • Gibson received the ‘Union Pacific Railroad Pinnacle Award’, which recognizes customers who implement release prevention protocols, corrective action plans and have zero non-accident releases of regulated hazardous materials shipments
    • Continued to regularly conduct Process Hazard Analysis to proactively identify, monitor and mitigate any potential impacts to operational excellence

    Social Responsibility

    • Exceeded its 2025 target with over 24% racial and ethnic minority representation and 5% Indigenous representation in the workforce
    • Successfully implemented Gibson’s inaugural Indigenous Peoples Development Program and announced a partnership with the Canadian Council for Indigenous Business by participating in the PAIR program at the Committed level, both of which further embeds Indigenous Peoples culture, decision-making and business practices at all levels of the organization
    • Named as one of Alberta’s Top Employers and Canada’s Best Diversity Employers by the annual Canada’s Top 100 Employers Project for the third consecutive year
    • Maintained a best-in-class position in employee participation in our community giving program with a rate of 94%
    • Gibson was awarded the ‘Better Benefits Award’ from Fertility Matters Canada for its leadership position in creating a family-friendly benefit plan and also, the ‘Best Wellness Program’ at the Canada’s Safest Employers Awards

    Governance and Transparency

    • In the Globe & Mail annual Board Games results, Gibson ranked 12th out of 215 companies, scoring 96 out of 100 points, which recognized the company’s approach to strong governance practices and tied the Company with a peer as the highest ranked energy company
    • Ahead of the 2025 target dates, achieved both Governance ESG targets by having 50% female representation and three racial, ethnic and or Indigenous representation on its Board of Directors
    • In line with the Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act, published its inaugural Modern Slavery Report
    • Demonstrated a commitment to responsible procurement with 100% participation and completion of Supply Chain Human Rights training by members of Supply Chain Management, Legal and Sustainability teams
    • Published Gibson’s Sustainability Policy, which formalizes the Company’s long-standing sustainability commitments and enhances the governance approach

    Additional information on Gibson’s approach to Sustainability and ESG, is available at: https://www.gibsonenergy.com/sustainability.

    About Gibson
    Gibson is a leading liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company’s operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan.

    Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.

    Advisory Statements

    Definitions
    Scope 1 emissions are direct emissions from facilities owned and operated by Gibson.

    Scope 2 emissions are indirect emissions from the generation of purchased energy for Gibson’s owned and operated facilities.

    All references in this press release to Net Zero include Scope 1 and Scope 2 emissions only. Targets currently do not include the Gateway Terminal.

    All references in this press release to Gibson’s business and asset base are only inclusive of the equity portion of facilities Gibson owns and operates.

    Forward-Looking Statements

    Certain statements contained in this press release constitute forward-looking information and statements (collectively, forward-looking statements). These statements relate to future events or future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “aim”, “target”, “goal”, “contemplate”, “continue”, “commit”, “estimate”, “expect”, “future”, “forecast”, “forward”, “further”, “intend”, “long-term”, “propose”, “might”, “may”, “maintain”, “will”, “shall”, “project”, “should”, “could”, “would”, “believe”, “opportunity”, “predict”, “pursue”, “potential” and “progress” and similar expressions are intended to identify forward-looking statements. The forward-looking statements reflect Gibson’s beliefs and assumptions with respect to, among other things, its commitment to sustainability, ESG leadership and strong governance practices, its focus areas for 2025, its commitment to, and ability to maintain, its position as an industry ESG and sustainability leader; its ability to identify and realize opportunities to advance its sustainability journey and leverage its asset base and growth opportunities to a more secure and resilient energy future; its commitment to a safe and effective working environment; its sustainability strategy generating long-term value for key stakeholders; its Mission Zero commitment and the efforts undertaken to achieve such goal; the anticipated benefits of its renewable PPA and the timing thereof; the impact of the acquisition of STGT on Gibson’s sustainability profile; its ability to improve its operations, including with respect to emission reductions, biodiversity and Indigenous relations; its ESG goals, including its 2025 and 2030 ESG goals and its Net Zero by 2050 commitment; embedding Truth and Reconciliation principles into its culture and business practices; Gibson’s future climate and ESG targets and metrics and future ambitions, the global energy transition, and other assumptions inherent in management’s expectations in respect of the forward-looking statements identified herein.

    Forward-looking statements involve known and unknown risks, assumptions, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Gibson believes these statements to be reasonable, no assurance can be given that the results or events anticipated in these forward-looking statements will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. Actual results or events could differ materially from those anticipated in these forward-looking statements as a result of, among other things, Gibson’s ability to execute its current strategy, related milestones; Gibson’s ability to meet its sustainability and ESG goals; risks inherent in applicable laws and government policies; economic, societal, political and industry trends; Gibson’s ability to access capital; Gibson’s ability to obtain the anticipated benefits of the acquisition of STGT and its renewable PPA; risks inherent our business and the businesses of our industry partners; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour, materials, services and infrastructure; the development and execution of projects; prices of crude oil, natural gas, natural gas liquids and renewable energy; the development, performance and viability of technology and new energy efficient products, services and programs including but not limited to the use of zero-emission and renewable fuels, carbon capture and storage, electrification of equipment powered by zero-emission energy sources and utilization and availability of carbon offsets; assumptions relating to long-term energy future scenarios; carbon price outlook; the cooperation of joint venture partners in reaching the Net Zero by 2050 commitment and other ESG goals; the power system transformation and grid modernization; levels of demand for our services and the rate of return for such services; the likelihood, timing and financial impact of certain risks and uncertainties described under the heading “Risk Factors” and “Forward-Looking Information” in our current annual and interim management’s discussion and analysis and Annual Information Form (“AIF”) and identified in other documents the Company files from time to time with securities regulatory authorities, in each case as filed on SEDAR+ at www.sedarplus.ca and available on the Gibson website at www.gibsonenergy.com.

    The forward-looking statements contained in this press release represent Gibson’s expectations as of the date hereof and are subject to change after such date. Gibson disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable laws. ​Readers are cautioned that the foregoing lists are not exhaustive. For a full discussion of our material risk factors, see “Risk Factors” in our current annual and interim management’s discussion and analysis and AIF, in each case as filed on SEDAR+ at www.sedarplus.ca and available on the Gibson website at www.gibsonenergy.com.

    For further information, please contact:

    Investor Relations:
    (403) 776-3077
    investor.relations@gibsonenergy.com

    Media Relations:
    (403) 476-6334
    communications@gibsonenergy.com

    The MIL Network –

    February 27, 2025
  • MIL-OSI: Genie Energy to Report Fourth Quarter and Full Year 2024 Results 

    Source: GlobeNewswire (MIL-OSI)

    NEWARK, NJ, Feb. 26, 2025 (GLOBE NEWSWIRE) — Genie Energy Ltd., (NYSE: GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the fourth quarter and full year 2024 on Monday, March 10, 2025.

    Genie Energy will issue an earnings release over a wire service and post it in the “Investors” section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC.

    At 8:30 AM Eastern, Genie Energy’s management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will begin with management’s remarks followed by Q&A with investors.

    To participate in the conference call, dial 1-888-506-0062 (toll-free from the US) or 1-973-528-0011 (international) and provide the following participant access code: 481357.

    Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 52066. The replay will remain available through Monday, March 24, 2025. In addition, a recording of the call will be available for playback on the “Investors” section of the Genie Energy website. 

    In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. 

    About Genie Energy Ltd.: 

    Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division (GREW) is a vertically-integrated provider of community and utility-scale solar energy solutions. For more information, visit Genie.com.

    Contact: 
    Genie Energy Investor Relations
    Bill Ulrey
    E-mail: wulrey@genie.com 

    # # # 

    The MIL Network –

    February 27, 2025
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