NewzIntel.com

Category: Europe

  • MIL-OSI United Kingdom: Ofqual seeks views on improvements to supporting compliance for AOs

    Source: United Kingdom – Executive Government & Departments

    The regulator is to refine its approach to ensure awarding organisations continue to offer high quality qualifications. 

    Changes to improve the way Ofqual both supports compliance and takes regulatory action were put out for consultation today.  

    The changes are designed both to support awarding organisations and ensure that enforcement action, when it is needed, is proportionate and fair, to maintain the standards of qualifications that students and the public rely on.

    The updated approach introduces proposals to better explain the way in which the regulator uses its powers. It also proposes revised and more efficient processes for dealing with regulatory breaches and a new sanction.

    Proposals include:  

    • a streamlined process for settling simple cases quickly, where organisations agree they have breached Ofqual’s conditions  

    • a new sanction of a public rebuke from the regulator in cases where it’s right that a failure to follow regulatory rules be addressed formally and publicly, but where a fine may not be proportionate

    Where cases are not contested, it is proposed that the chief regulator will have the power to decide that a final decision can be made by a single decision-maker.

    Deputy Chief Regulator Michael Hanton said:  “The 11 million certificates awarded for regulated qualifications in England each year are intrinsic to our education system, the economy, and wider society. Ofqual’s job is to be the guardian of standards and quality in those qualifications.

    “Like all regulators, we want those we regulate to comply with our rules, so that standards are maintained. These proposals are intended to bring clarity about how we will both support compliance and also take action when necessary.” 

    The updated policy, ‘Supporting Compliance and Taking Regulatory Action’, will include a new section explaining the ways Ofqual can support awarding organisations to meet its requirements and avoid the need for formal enforcement action.

    Previous work on updating the policy was interrupted by the pandemic.  

    The consultation was launched today, Thursday, 20 February 2025, and will end on Tuesday, 15 May 2025, at 11:45pm.

    Background information:  

    • Ofqual regulates 249 awarding organisations, certificating over 11 million certificates a year. These include GCSEs, A levels, T Levels, apprenticeship assessments and safety critical qualifications in sectors such as healthcare, childcare and security.   

    • Parliament gave Ofqual enforcement powers in the Apprenticeships, Skills, Children and Learning Act 2009. Those powers were amended by the Education Act 2011. 

    • The Taking Regulatory Action policy was last amended in 2012. 

    • Ofqual previously consulted on the proposal to implement a ‘rebuke’ as part of its consultation on this policy in 2019. This work was paused due to the pandemic. 

    • The consultation and further details are here: https://www.gov.uk/government/consultations/amending-our-taking-regulatory-action-policy

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Local Plan steps closer to development and growth ambitions

    Source: City of York

    City of York Council is set to consider the adoption of its Local Plan following the findings of the Inspector’s Report on the Examination of City of York’s Local Plan.

    The Local Plan will be presented for consideration at Full Council on Thursday 27 February.

    City of York Council is set to consider the adoption of its Local Plan following the findings of the Inspector’s Report on the Examination of City of York’s Local Plan, which will be presented for consideration at Full Council on Thursday 27 February.

    Once adopted, this Plan will be the city’s first comprehensive development framework since 1956 and will guide York’s growth for the next decade, marking a pivotal milestone in the city’s future development and growth ambitions, whilst establishing the city’s green belt and historic setting for the first time.

    The Local Plan outlines the vision for sustainable housing, economic development, and infrastructure in York. It addresses key priorities such as affordable housing, environmental sustainability, and the protection of York’s historic character. The Plan provides a policy framework for decisions on development, shaping the city’s future spatial development until 2038.

    As part of the adoption process, the Council will review the Inspector’s recommendations and the main modifications to housing allocations, green belt boundaries, and transport infrastructure planning. The final decision on whether to formally adopt the Local Plan will be made at the Full Council meeting on Thursday 27 February.

    Cllr Claire Douglas, Leader of the Council, said:

    The Local Plan is an historic step in shaping York’s bright future, and we’re excited about what it means for our city. We welcome the Inspector’s findings and are confident that their modifications will strengthen the Plan, ensuring it supports York’s vision for a sustainable, inclusive city for all. The Plan provides us with a clear roadmap for how our city will develop and grow over the next decade – meeting the needs of our residents and businesses.

    “A huge thank you to everyone who has worked so hard to bring this Plan to life. We truly appreciate your dedication and commitment to York’s future.”

    Cllr Katie Lomas, Executive Member for Finance, Performance, Major Projects, Human Rights, Equality, and Inclusion, added:

    This Local Plan is designed to support the growth of York while promoting equality, accessibility, and sustainability. We are particularly focused on ensuring that affordable housing remains a central component of this Plan, along with infrastructure that meets the needs of all residents, including those from the most disadvantaged groups. This is a long-term investment in creating a fairer, greener York for future generations.

    Cllr. Michael Pavlovic, Executive Member for Housing, Planning and Safer Communities, commented:

    The Local Plan represents the outcome of 7 years extensive consultation, public hearings, and thorough examination. The Plan outlines significant investments in housing, transport, and employment opportunities, which will help drive York’s economy and provide much-needed infrastructure. For York to prosper we need to be ambitious, and this Plan unlocks the potential to make those ambitions a reality.

    Inspector’s Report and Next Steps

    The Inspector’s Report, published following extensive independent examination, recognised that the Local Plan meets all statutory duties to cooperate and aligns with national planning policies. However, the Report also identified certain areas requiring modifications to ensure the Plan’s soundness, particularly regarding the housing supply, green belt boundaries, and infrastructure delivery.

    The Council has already responded to the Inspector’s recommendations, requesting main modifications that will address these deficiencies. Full Council will be asked to adopt the plan with the Inspectors’ modifications.

    The Local Plan in Brief

    The Local Plan will provide a comprehensive strategy for:

    • Delivering 20,000 new homes over the duration of the plan, including a significant proportion of affordable housing
    • Allocating sites for economic growth, including areas for employment and retail expansion
    • Investing in sustainable transport infrastructure, including improved bus routes, cycling paths, and EV charging stations
    • Mitigating and adapting to climate change with enhanced green infrastructure, flood defences, and energy-efficient building standards.
    • Safeguarding York’s historic and cultural heritage while ensuring new development respects the city’s unique character.
    • Setting the city’s green belt and protecting the historic setting for the first time.

    The adoption of the Local Plan represents a turning point in York’s growth, ensuring that development is sustainable, well-planned, and consistent with local priorities.

    For more details on the Inspector’s Report and the upcoming Full Council meeting, visit the our Local Plan Inspectors Report.

    Full Council takes place on Thursday 27 February, the agenda is available to view online at our Democracy website and the meeting will be available to view live or on demand at our webcasts page.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Firms Encouraged to Meet the Buyer

    Source: Scotland – City of Dundee

    A call is going out for local businesses keen to bid for work in the public sector to attend a Dundee event where they can meet buyers from organisations across Tayside. 

    The free Meet the Buyer gathering on March 4 at the Michelin Scotland Innovation Parc (MSIP) will give potential suppliers the opportunity to talk informally about upcoming contracts. 

    A wide range of goods and services are bought in by public bodies including personal care, building works, transport and catering. 

    Councillor Steven Rome, convener of Dundee City Council’s Fair Work, Economic Growth and Infrastructure committee, said: “This event aims to help local businesses to be ready to bid for work from councils, health boards, universities and other public bodies when it comes up. 

    “Attendance is free, but we are keen that new and existing suppliers, particularly local businesses in and around Dundee, register for the event. 

    “Buyers will be there to meet potential suppliers to chat about upcoming contracts, how they go about tendering and what they look for when buying goods and services for their organisations.” 

    “Suppliers will also be able to network with meet larger contractors with public sector contracts to learn about current and active subcontract opportunities, and how to join their supply chains.”                                                       

    The free event is being organised by Dundee City Council in partnership with Perth & Kinross Council, Angus Council, and the Supplier Development Programme (SDP). 

    It takes place on Tuesday March 4 between 10am and 2pm at the Innovation Hub at the MSIP, Baldovie Road, Dundee.  

    Anyone who wants to attend should register on the SDP website here  

    Attendees on the day will be able to introduce their business to a wide range of public sector organisations, including: 

    • Dundee City Council 

    • Abertay University 

    • Angus Council 

    • Scotland Excel 

     

    Contractors confirmed to attend are Robertsons Tayside, McLaughlin & Harvey, MVV Environment Baldovie Ltd and Balfour Beatty. 

    Gillian Cameron, Programme Manager of the Supplier Development Programme, said: “Meet the Buyer Tayside is a fantastic opportunity to network with the real buyers that design and advertise local public sector contracts and supply chain opportunities, as well as learn about the free business support and training local businesses can access to help them bid better. 

    “The Supplier Development Programme works hand in hand with local authorities to create free events like Meet the Buyer Tayside, which help local businesses find, win and keep public sector contracts. So, if you want to consider and win work with the public sector or its partners in Tayside, this event is an unmissable opportunity.” 

    The session will include speakers and workshops, looking at topics like Quick Quotes for smaller contract opportunities, Community Wealth Building and how to use Public Contracts Scotland (PCS) and Public Contracts Scotland Tender (PCS-T) to tender for work. 

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Get a chance to win 1.5 million rubles for an innovative project

    Translartion. Region: Russians Fedetion –

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

    The application process for the Moscow Mayor’s “Moscow Innovator” award has begun.

    The competition for the best entrepreneurs, scientists and inventors will allow them to contribute to the development of the capital, implement technological developments in Moscow and win up to 1.5 million rubles.

    Applications are accepted in six key areas: medicine and pharmaceuticals, industry, transport and logistics, improvement and construction, ecology and environmental protection, and public projects.

    Both individuals (students, schoolchildren, engineers, scientists, entrepreneurs) and representatives of organizations (research laboratories, design bureaus, corporations, engineering centers) in a team of 2 to 5 people can compete for the prize.

    Both early stage developments and projects with revenue can participate. The total prize fund is more than 20 million rubles.

    Register on the award website before May 5. Success stories of participants and current news of the competition are published on the channel “Moscow Innovators”.

    Subscribe to the tg channel “Our State University” Announcement date: 02/20/2025

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

    MIL OSI Russia News –

  • MIL-OSI United Nations: IOM-FMM Capacity Building with SMEs on Fair and Ethical Recruitment and Employment of Migrant Workers in Malaysia

    Source: International Organization for Migration (IOM)

    Selangor, Malaysia– IOM Malaysia in collaboration with the Federation of Malaysian Manufacturers (FMM) has kicked off the capacity building sessions on Fair and Ethical Recruitment and Employment of Migrant Workers with Small and Media Enterprises (SMEs) representatives in Malaysia on 13th February 2025 in Kuala Lumpur.  

    SME Representatives deepened their understanding in the implementation of fair and ethical recruitment and employment of migrant workers including human rights due diligence. Throughout the interactive discussion, SME representatives shared their experiences and challenges, identified areas for support in implementing practices. 

    “IOM is pleased to continue our partnership with the Federation of Malaysian Manufacturers (FMM). This is an effort to provide adequate support, especially to SMEs involved in the manufacturing supply chain that employs migrant workers, who constitute 31% of the workforce in this sector in Malaysia. Most importantly, this series of workshops aims to capacitate SMEs to adhere to human rights and labour standards in their operations and throughout their supply chains” Amanda Ng Seang Wei, National Programme Officer.

    SMEs are invited to attend the upcoming free capacity-building sessions this year. The sessions equip participants with the knowledge and tools necessary to: 

    • Identify and mitigate risks associated with migrant labour and human rights violations, thereby safeguarding their operations and reputation.  
    • Understand the international standards and best practices in business ethics, migration policies and human rights protection of migrant workers. 
    • Understand the importance of promoting fair and ethical recruitment and employment of migrant workers to reduce exploitative recruitment and labour practices in their operations and supply chain.  
    • IOM together with FMM will continue to conduct these sessions throughout Malaysia in Melaka, Sarawak, Sabah, Pahang, Kedah, Perak, Penang, and Johor. Any SMEs who are interested in participating in this free training are encouraged to contact FMM through:

      For more information, please contact Amanda Ng Seang Wei at sng@iom.int.
       

      The Migration, Business and Human Rights Programme in Asia (MBHR Asia) is a five-year regional programme and is funded by the European Union and Government of Sweden. The programme will run from 2024-2028 across Cambodia, Malaysia, Nepal, Indonesia, the Philippines, Thailand and Viet Nam.

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: President Lai attends opening of 2025 Halifax Taipei forum

    Source: Republic of China Taiwan

    On the afternoon of February 20, President Lai Ching-te attended the opening of the 2025 Halifax Taipei forum. In remarks, President Lai thanked the Halifax International Security Forum for their strong support for Taiwan, and for having chosen Taiwan as the first location outside North America to hold a forum. Noting that we face a complex global landscape, the president called on the international community to take action. He said that as authoritarianism consolidates, democratic nations must also come closer in solidarity, and called on the international community to create non-red global supply chains, as well as unite to usher in peace. President Lai emphasized that Taiwan will work toward maintaining peace and stability in the Taiwan Strait, and collaborate with democratic partners to form a global alliance for the AI chip industry and together greet a bright, new era.
    A transcript of President Lai’s remarks follows:
    To begin, I want to give a warm welcome to all the distinguished guests here at the very first Halifax Taipei forum. The Halifax International Security Forum, held every year in Canada, has been an important gathering for freedom-loving nations worldwide.
    I would like to thank Halifax and President [Peter] Van Praagh for their strong support for Taiwan. Every year since 2018, Taiwan has been invited to participate in the forum. Last year, former President Tsai Ing-wen was invited to speak, and this year, Halifax has chosen Taiwan as the first location outside North America to hold a forum.
    As President Van Praagh has said, “While the security challenges ahead are too big for any single country to solve alone, there is no challenge that can’t be met when the world’s democracies work together.” Today, we have world leaders and experts who traveled from afar to be here, showing that they value and support Taiwan. It demonstrates solidarity among democracies and the determination to take on challenges as one.
    I would like to express my gratitude and admiration to all of you for serving as defenders of freedom. At this very moment, Russia’s invasion of Ukraine is still ongoing. Authoritarian regimes including China, Russia, North Korea, and Iran continue to consolidate. China is hurting economies around the world through its dumping practices. We face grave challenges to global economic order, democracy, freedom, peace, and stability.
    Taiwan holds a key position on the first island chain, directly facing an authoritarian threat. But we will not be intimidated. We will stand firm and safeguard our national sovereignty, maintain our free and democratic way of life, and uphold peace and stability across the Taiwan Strait. Taiwan cherishes peace, but we also have no delusions about peace. We will uphold the spirit of peace through strength, using concrete actions to build a stronger Taiwan and bolster the free and democratic community.
    I sincerely thank the international community for continuing to attach importance to the situation in the Taiwan Strait. Recently, US President Donald Trump and Japan’s Prime Minister Ishiba Shigeru issued a joint leaders’ statement expressing their firm support for peace and stability across the Taiwan Strait, and for Taiwan’s participation in international affairs.
    As we face a complex global landscape, I call on the international community to take the following actions:
    First, as authoritarianism consolidates, democratic nations must also come closer in solidarity.
    Just a few days ago, the top diplomats of the US, Japan, and South Korea held talks, underlining the importance of maintaining peace and stability across the Taiwan Strait. They also conveyed their stance against “any effort to destabilize democratic institutions, economic independence, and global security.” On these issues, Taiwan will also continue to contribute its utmost.
    I recently announced that we will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. 
    Soon after I assumed office last year, I formed the Whole-of-Society Defense Resilience Committee at the Presidential Office. This committee aims to combine the strengths of government and civil society to enhance our resilience in national defense, economic livelihoods, disaster prevention, and democracy. We will also deepen our strategic partnerships in the democratic community to mutually increase defense resilience, demonstrate deterrence, and achieve our goal of peace throughout the world.
    Second, let’s create non-red global supply chains. 
    For the democratic community to deter the expansion of authoritarianism, it must have strong technological capabilities. These can serve as the backbone of national defense, promote industrial development, and enhance economic resilience. So, in addressing China’s red supply chain and the impact of its dumping, Taiwan is willing and able to work with global democracies to maintain the technological strengths among our partners and build resilient non-red supply chains.
    As a major semiconductor manufacturing nation, Taiwan will introduce an initiative on semiconductor supply chain partnerships for global democracies. We will collaborate with our democratic partners to form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. The achievements of today’s semiconductor industry in Taiwan can be attributed to our collective efforts. Government, industry, academia, and research institutions had to overcome various challenges over the last 50 years for us to secure this position. 
    We hope Taiwan can serve as a base for linking the capabilities of our democratic partners so that each can play a suitable role in the semiconductor industry chain and develop its own strengths, deepening our mutually beneficial cooperation in technology. This benefits all of us. Moreover, it allows us to further enhance deterrence and maintain global security.
    Third, let’s unite to usher in peace.
    China has not stopped intimidating Taiwan politically and militarily. Last year, China launched several large-scale military exercises in the Taiwan Strait. Its escalation of gray-zone aggression now poses a grave threat to the peace and stability of the Indo-Pacific region. As a responsible member of the international community, Taiwan will maintain the status quo. We will not seek conflict. Rather, we are willing to engage in dialogue with China, under the principles of parity and dignity, and work toward maintaining peace and stability in the Taiwan Strait.
    As the agenda of this forum suggests, democracy and freedom create more than just opportunities; they also bring resilience, justice, partnerships, and security.
    Taiwan will continue working alongside its democratic partners to greet a bright, new era. Once again, a warm welcome to all of you. I wish this forum every success. Thank you.
    Also in attendance at the event were Mrs. Abe Akie, wife of the late former Prime Minister Abe Shinzo of Japan, and Halifax International Security Forum President Van Praagh.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Regulator to investigate Walsall community football charities

    Source: United Kingdom – Government Statements

    The Charity Commission has launched statutory inquiries into Walsall Wood Community Football Club and Walsall Wood Saints Junior Football Club.

    In July 2022, the charity regulator for England and Wales entered Walsall Wood Community Football Club (WWCFC) into a Double Defaulter Class Inquiry after the charity failed to submit its accounts and wider financial information for two years. The charity had also failed to follow correct practice when supplying accounts for the previous three years (Financial Year Ending (FYE) 30 June 2020, 30 June 2021, and 30 June 2022). 

    The regulator started monitoring Walsall Wood Saints Junior Football Club in June 2024 after it identified links between this charity and WWCFC. Similarly, Walsall Wood Saints had failed to supply accounts for FYE 30 June 2023 and submitted accounts in 2022 which were non-compliant. The engagement with both charities raised additional concerns which are now being examined under inquiry.  

    The junior club was set up to arrange activities related to football, including coaching, fun and league games, together with social and fundraising activities for children in the local community. Walsall Wood Community Football Club was set up with similar aims for the wider community and the promotion of healthy recreation. 

    The inquiries will examine:   

    1. The trustees’ compliance with their legal obligations for the content, preparation and filing of the charities’ accounts and other information or returns 

    2. If the trustees are managing their charities in line with their objects and governing documents 

    3. the trustees’ compliance with their legal duties and responsibilities in respect of their administration and governance of their charities, and if they have a sufficient number of willing and capable trustees 

    4. If there has been any misconduct and/or mismanagement in the administration of the charities 

    The Commission may extend the scope of these inquiries if additional regulatory issues emerge. 

    It is the Commission’s policy, after it has concluded an inquiry, to publish a report detailing what issues the inquiry looked at, what actions were undertaken as part of the inquiry and what the outcomes were.    

    ENDS 

    1. The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. 

    2. On 27 July 2022, Walsall Wood Community Football Club was placed into a Double Defaulter Class Inquiry. 

    3. On 14 January 2025, the Commission opened two separate statutory inquiries into Walsall Wood Community Football Club and Walsall Wood Saints Junior Football Club under section 46 of the Charities Act 2011. 

    4. A statutory inquiry is a legal power enabling the Commission to formally investigate matters of regulatory concern within a charity and to use protective powers for the benefit of the charity and its beneficiaries, assets, or reputation. An inquiry will investigate and establish the facts of the case so that the Commission can determine the extent of any misconduct and/or mismanagement; the extent of the risk to the charity, its work, property, beneficiaries, employees or volunteers; and decide what action is needed to resolve the concerns.

    Press office

    Email pressenquiries@charitycommission.gov.uk

    Out of hours press office contact number: 07785 748787

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: NSU teachers are prize winners of the regional Spartakiad

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    NSU
    News and Events
    News
    NSU teachers are prize winners of the regional Spartakiad

    02.20.2025

    Latest news

    02/19/2025

    NSU scientist talks about the current epidemic season

    In the last two weeks of January and the first two weeks of February, there was a slight increase in the incidence of respiratory viral infections; the H3N2 subtype of influenza A viruses that were dominant in the 2023/24 season were replaced by strains of the H1N1 subtype.

    02/19/2025

    Exhibition “Life as a Vocation” to Open at NSU

    It is dedicated to the 100th anniversary of the birth of Doctor of Historical Sciences, Professor, Honorary Professor of NSU, Honored Scientist of the Russian Federation, founder of the scientific school of modern Siberian science studies and cultural studies, veteran of the Great Patriotic War Varlen Lvovich Soskin.

    02/18/2025

    Sergey Netesov: “You have to root for the positive”

    To overcome ARVI, medications and immune stimulation alone are not enough. The patient’s emotional state is no less important. A positive attitude will make the medications more effective.

    All news

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

    MIL OSI Russia News –

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

    Source: GlobeNewswire (MIL-OSI)

     

    Company Announcement no. 03/2025

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

    Copenhagen, February 20, 2025

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to 

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

    Attachments

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

    Key Highlights Q4-24

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

    Key Highlights FY 2024

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

    Q1-25 Outlook

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

    Δ

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

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

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

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

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

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

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

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

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

    Share Repurchase Activity

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

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

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

    April 23, 2025

    April 23, 2025

    July 24, 2025

    October 23, 2025

    February 2026
    Dividend Information*

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

    April 28, 2025

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

    Basis of Presentation

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

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

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

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

    Caution Concerning Forward-Looking Statements

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

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

    34,563

    		  

    (17,809

    )

    153,278

    		  

    (304,178

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

    308

    		  

    1,261

    		  

    564

    		  

    969

    		  
    Cash and cash equivalents at beginning of the
    period

    307,448

    		  

    205,025

    		  

    188,477

    		  

    491,686

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

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

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

    The MIL Network –

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

    Translartion. Region: Russians Fedetion –

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

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

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

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

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

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

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

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

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

    Photo archive

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

    MIL OSI Russia News –

  • MIL-OSI Russia: The Russian House in Addis Ababa opened the Information Center of RAFU and SPbPU

    Translartion. Region: Russians Fedetion –

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

    The grand opening of the Information Center of the Russian-African Network University Consortium and Peter the Great St. Petersburg Polytechnic University took place in the capital of Ethiopia, Addis Ababa, at the Russian House. The event was attended by Deputy Minister of Science and Higher Education of the Russian Federation Konstantin Mogilevsky, Head of Rossotrudnichestvo Yevgeny Primakov, Deputy Director of the International Cooperation Department Stepan Sokolov and Head of the Russian House in Ethiopia Vladimir Golovachev. The Polytechnic was represented by the head of the RAFU project office, Maxim Zalyvsky.

    The new center will become an important link in strengthening scientific and educational cooperation between Russia and Ethiopia, and will also promote Russian education on the African continent. The main goal is to develop partnerships with Ethiopian universities, popularize Russian educational programs, and prepare applicants interested in entering universities participating in the RAFU consortium. The center is equipped with information materials about Russian universities and methodological literature that will help future students make an informed choice.

    At the opening ceremony, Deputy Minister of Science and Higher Education Konstantin Mogilevsky emphasized: Cooperation between Russia and Ethiopia is developing in various key areas: education, science, culture. To obtain the best Russian education, especially in the engineering and technical field, it is important to have a good knowledge of mathematics, physics and other natural sciences from the very beginning. To help you on this path, today we are opening three new centers at the Russian House.

    As part of the event, the Russian Language Center of the Nizhny Novgorod State Linguistic University and the Pre-University Education Center of the Saint Petersburg State Electrotechnical University “LETI” were also opened in the capital of Ethiopia.

    We strive to create conditions so that every potential applicant could receive all the necessary information about Russian universities, areas of study, admission procedures, as well as available grants and scholarships. This will help young people make the right choice of their future profession and discover new opportunities for studying in Russia, – said Maxim Zalyvsky, head of the RAFU project office.

    The opening of the center was an important step in strengthening Russian-Ethiopian relations in the field of education and science. It will become not only a platform for information, but also a place where students and teachers can exchange experiences, participate in joint projects and build long-term cooperation.

    The head of Rossotrudnichestvo, Yevgeny Primakov, added: We are happy to share knowledge and strive for young people, enriched by Russian culture and science, to make their countries stronger, to raise their economies, technologies, and businesses. The Russian House in Ethiopia is a living embodiment of this philosophy. It will develop, filling with people, ideas, and the energy of the young.

    The Russian-African Network University unites leading Russian universities that are actively developing partnerships with African countries. The Polytechnic University has been the coordinator of the RAFU consortium since 2023.

    As part of the ceremonial event, NGLU and the Ethiopian Association of Graduates of Soviet and Russian Universities joined the RAFU consortium.

    The Polytechnic University is interested in strengthening educational and scientific ties with Ethiopia and other African countries. The opening of the joint Information Center of SPbPU and RAFU is an important step in implementing the strategy of the Russian Government to expand the presence of Russian education and science on the African continent, emphasized Dmitry Arsenyev, Vice-Rector for International Affairs at SPbPU.

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

    MIL OSI Russia News –

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

    Source: China State Council Information Office 2

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

    MIL OSI China News –

  • MIL-OSI USA: Congressman Cohen’s Statement on Support for Ukraine

    Source: United States House of Representatives – Congressman Steve Cohen (TN-09)

    MEMPHIS – Congressman Steve Cohen (TN-9), the House Ranking Member on the Commission on Security and Cooperation in Europe, also known as the Helsinki Commission, made the following statement on his support for Ukraine as the Organization for Security and Cooperation in Europe Parliamentary Assembly prepares to meet in Vienna:

    “As the House Ranking Member of the Helsinki Commission, the U.S. delegation to the Organization on Security and Cooperation in Europe Parliamentary Assembly (OSCE PA), which is convening this weekend in Vienna for its Annual Meeting, I have strongly supported Ukraine as a free and democratic country since Russia invaded on February 24, 2022. 

    “As Hannah Arendt would say, it is ‘preposterous’ to suggest Ukraine started this war. By parroting this and other Russian propaganda, President Trump is betraying and abandoning President Zelensky who is fighting on behalf of the entire free world. Despite enduring military and civilian casualties, continued bombings and war crimes including child abductions, the people of Ukraine have maintained pride in their country and love for democracy by fighting on. 

    “I am appalled by the conduct of President Trump who ordered U.S.-Russia talks in Saudi Arabia that not only excluded our European allies but excluded Ukraine itself. If this war is to come to a successful conclusion, Ukraine and all our NATO allies need to be at the negotiating table. We cannot discuss the future of Ukraine without Ukraine. There must be security assurances and mechanisms strong enough to enforce peace by deterring Putin from starting any new wars. 

    “I advise President Trump not to believe Putin so readily. Putin has a terrible track record for telling the truth including saying he wouldn’t invade Ukraine days before doing it and refusing to call his war anything other than a ‘special military operation.’ 

    “I will continue my strong support for Ukraine and admire the work of President Zelensky and the people of Ukraine. They are on the front lines of democracy and are fighting for democracy in Europe and around the world.”

    # # #

    MIL OSI USA News –

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

    Source: GlobeNewswire (MIL-OSI)

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

    Municipality Finance issues RON 108 million notes under its MTN programme 

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

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

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

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

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

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

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

    Important Information

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

    Municipality Finance issues SEK 1 billion notes under its MTN programme

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

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

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

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

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

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

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

    Read more: www.munifin.fi

    Important Information

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

    Key benefits of Nokia’s Corteca Cloud for CSPs:

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

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

    Resources and additional information
    Product page: Nokia Corteca Home Controller

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

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

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

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

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement no. 02/2025

    cBrain intends to take lead in COTS for government industry

    Copenhagen, February 20, 2025

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

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

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

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

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

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

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

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

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

    Best regards

    Per Tejs Knudsen, CEO

    Inquiries regarding this Company Announcement may be directed to 

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

    Attachment

    The MIL Network –

  • MIL-OSI Europe: New record in 2024 with almost 43 million overnight stays

    Source: Switzerland – Department of Home Affairs

    In 2024, the Swiss hotel industry achieved a record high of 42.8 million overnight stays (+1.1 million), an increase of 2.6% over 2023. With a total of 20.9 million overnight stays, domestic demand remained strong and stable (+12 000/+0.1%). Foreign demand rose by 5.1% (+1.1 million) to 22.0 million units, the highest level for over 50 years. These are the final results from the Federal Statistical Office (FSO).

    MIL OSI Europe News –

  • MIL-OSI Europe: The number of employed persons rose by 0.6% and the unemployment rate (ILO) rose to 4.4% in the 4th quarter 2024

    Source: Switzerland – Department of Home Affairs

    In the 4th quarter 2024, the number of employed persons in Switzerland rose by 0.6% compared with the same quarter of the previous year. During the same period, the unemployment rate as defined by the International Labour Organization (ILO) rose to 4.4% in Switzerland and fell to 5.8% in the European Union. These are some of the results of the Swiss Labour Force Survey conducted by the Federal Statistical Office (FSO).

    MIL OSI Europe News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI Europe: Foreign trade and development minister Reinette Klever: Dutch interests at the heart of development policy

    Source: Government of the Netherlands

    News item | 20-02-2025 | 08:36

    From now on, Dutch interests will take precedence in our country’s development policy. Those interests concern trade, security and migration. The government will focus on programmes and diplomatic activities in areas where the Netherlands excels: water management, food security and health.

    These principles form the core of the new development aid policy that the Minister for Foreign Trade and Development, Reinette Klever, sent to the House of Representatives on Thursday. The government has agreed it will impose structural spending cuts of €2.4 billion on development aid from 2027. ‘All the programmes we fund must contribute directly to our own interests: promoting trade, enhancing security and reducing migration,’ Ms Klever said.

    The minister believes that current Dutch policy is too fragmented to be sufficiently effective. She has therefore decided to apply a sharper focus and put Dutch interests first. ‘The goal is not merely to reduce development aid, but to make it better. We will make clear choices, doing only what we do best and working wherever possible with Dutch businesses. That will benefit the Netherlands and it will benefit recipient countries,’ the minister explained.

    The government is linking aid and trade more explicitly, too. ‘We will give Dutch businesses more opportunity to win development contracts,’ Ms Klever said. ‘And we’ll help the countries concerned to develop into trading partners, which will be good for their economies and employment figures.’

    The government will also use development aid as a way to boost security in various conflict regions surrounding Europe: West Africa, the Horn of Africa, the Middle East and North Africa. This should help avoid disruption to trade, combat the rise of terrorist or criminal organisations and prevent people applying for asylum in the Netherlands. ‘Food shortages, for example, are a cause of conflict,’ Ms Klever explained. ‘So we will deploy Dutch agricultural expertise to improve and increase food production.’

    The government wants to tackle migration and is therefore investing in migrant return, as well as reception and protection of refugees in their country or region of origin. Ms Klever: ‘Giving people future prospects in those regions will enable them to build livelihoods, meaning they won’t have to make the journey to Europe.’ The government wants to make agreements with migration countries, aimed at combating migration and encouraging return.

    Despite the major cutbacks, the government will continue providing humanitarian aid to people in crisis situations. Ms Klever aims to do this via local aid organisations, as they are able to respond swiftly and effectively in crises.

    Under the new policy, funding for various programmes will be terminated, in areas such as gender equality, vocational and higher education, sport and culture. Funding for climate action, civil society and UN organisations will be reduced.

    MIL OSI Europe News –

  • MIL-OSI Europe: Netherlands to return looted Benin Bronzes to Nigeria

    Source: Government of the Netherlands

    News item | 19-02-2025 | 00:05

    At the request of Nigeria, the Netherlands is returning 113 Benin Bronzes from the Dutch State Collection. This decision was taken by the Minister of Education, Culture and Science Eppo Bruins. In 1897 British soldiers looted these objects from the Kingdom of Benin (now part of modern-day Nigeria) and sold them. They eventually ended up in the Dutch State Collection. The Benin Bronzes are an important record of the history of the Kingdom of Benin and, thus, of great significance to Nigeria. The Bronzes, consisting of plaques, personal ornaments and figures, are currently housed in the collection of Wereldmuseum Leiden. The return of these objects is the result of intensive cooperation between experts and representatives of both countries.

    Minister Bruins: “This restitution contributes to redressing a historical injustice that is still being felt today. Cultural heritage is essential for telling and living the history of a country and a community. The Benin Bronzes are indispensable to Nigeria. It is good that they are going back.”

    The transfer agreement will be signed in Leiden on 19 February by Mr Bruins and Olugible Holloway, Director-General of the Nigerian National Commission for Museums and Monuments.

    DG Holloway: ‘The return from the Netherlands will represent the single largest return of Benin antiquities directly linked to the 1897 British punitive expedition. We thank the Netherlands for their cooperation and hope this will set a good example for other nations of the world in terms of repatriation of lost or looted antiquities.’

    The return follows the publication of an advisory report by the Colonial Collections Committee, chaired by Lilian Gonçalves-Ho Kang You. The objects will be returned to the Nigerian government, which will then decide how and where they will be displayed. The Wereldmuseum hopes that the return of the objects will not mark the end of the process, but rather serve as a starting point for further cooperation between museums in Nigeria and the Netherlands.

    Return of objects by the municipality of Rotterdam

    In addition to the return of 113 objects from the Dutch State Collection, on 19 February the municipality of Rotterdam will also be returning a further six objects that fall under the Benin Bronzes collection. These objects – a bell, three relief plaques, a coconut casing and a staff – were also looted in 1897.

    Said Kasmi, a member of the Rotterdam municipal executive: ‘Art and heritage should be where they belong. These objects belong in Nigeria. By returning them, we’re taking an important step towards recognising the past and respecting the value these objects hold for Nigeria.’

    Advisory report published by the Colonial Collections Committee

    On the basis of a provenance investigation conducted by the Wereldmuseum and the municipality of Rotterdam, the Colonial Collections Committee advised the minister to return these objects in line with the Netherlands’ colonial collections policy. This advisory report resulted from close consultation and collaboration with the Nigerian National Commission for Museums and Monuments. The Committee published the report on its website. This is the fifth time that the Netherlands is returning objects as a direct result of an advisory report by the Committee. The Committee is currently drawing up advisory reports in response to requests submitted by Sri Lanka, India and Indonesia.

    MIL OSI Europe News –

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

    Source: Lufthansa Group

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    ABOUT LUFTHANSA GROUP:

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

    ABOUT AIR INDIA GROUP:

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

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

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

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

    MIL OSI Economics –

  • MIL-OSI Russia: To the team of the Zvezda TV channel

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The Zvezda TV channel is celebrating its 20th anniversary.

    Dear friends!

    I sincerely congratulate you and your multi-million audience on this significant event – the 20th anniversary of the start of broadcasting of the Zvezda TV channel.

    Over the years, the first military-patriotic TV channel in our country has become one of the leaders in the Russian media space. Its dynamic development is the result of the coordinated work of a large creative team, talented and creative people – presenters, correspondents, cameramen, directors and editors, everyone who is in the frame and behind it. Sincerely devoted to your work, you are creating a unique information space. Around the clock, you share with viewers relevant and objective news from the scene of events in the country and the world. You are looking for new formats, introducing modern technologies, expanding the boundaries of broadcasting. For many years, your popular science, educational and entertainment projects, live broadcasts and special reports, including from hot spots, have been in demand among viewers of different generations.

    The current year has been declared by the President as the Year of the Defender of the Fatherland. All those who ensure the defense capability and national security of our country deserve special attention. And your programs dedicated to the Russian army, heroes and participants of the SVO, innovative developments of the defense-industrial complex are becoming an important part of modern history.

    I am confident that the TV channel’s team will continue to work on preserving the memory and cultural heritage of Russia and the patriotic education of youth.

    I wish you the fulfillment of your plans, new projects and all the best.

     

    M. Mishustin

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

    MIL OSI Russia News –

  • MIL-OSI Security: Man guilty of rape in 2019

    Source: United Kingdom London Metropolitan Police

    A man has been convicted of rape after a meticulous investigation by specialist detectives convinced the jury of his guilt.

    Samsidi D’Souza-N’Gom, 31 (05.12.93), of Marshall Road, N17 was found guilty of rape at the Old Bailey Court on Wednesday, 19 February.

    He will be sentenced at the same court on 21 March.

    On Monday, 2 September 2019, the victim, a woman in her 20s at the time of the incident, contacted police to say she had been raped at an address in Osidge Lane, Barnet.

    She was supported by specialist officers who immediately launched an investigation, led by detectives from the North West Rape & Serious Sexual Offences team.

    On Sunday, 1 September both D’Souza-N’Gom and the victim were out at a bar with a wider group of friends in Hackney. In the early hours of the morning, they returned to D’Souza-N’Gom’s home address.

    The victim told police she had been asleep when she was woken up by the defendant raping with her. She tried to fight him off but was unable to do so.

    Officers gathered and analysed hours of CCTV to put together a timeline of events. This showed them leaving the venue together before making their way to the taxi office.

    Detectives also spoke to a significant number of witnesses who provided further information which assisted with the investigation.

    D’Souza-N’Gom denied the allegations and said everything had been consensual.

    Detective Constable Alan Wong, who led the investigation, said: “I would like to commend the courage and bravery of the victim, who after enduring a traumatic incident, spoke with officers and found the strength to assist with our enquiries.

    “We were also hugely supported by other witnesses who had seen or spent time with the victim and the defendant prior to the offence. Their accounts helped us to provide the jury with a clear chronology of the evening which was central to them reaching a guilty verdict.”

    Speaking after the verdict, Detective Inspector Richard Lewsley said: “I hope that this outcome encourages victims of this type of offending to have faith that we take crimes of rape and sexual assault seriously.

    “The circumstances of this offence are often not reported because victims feel there will be insufficient evidence to support a prosecution. We are trained to explore allegations in detail and to illicit details to understand what took place.

    “I acknowledge this investigation has taken a long time but we are working hard to investigate and achieve positive outcomes for investigations regardless of the length of time that has passed. I thank the victim of this case for her fortitude and resilience in remaining engaged and positive throughout which has allowed us to finally achieve justice for the victim and put a predatory offender is behind bars.”

    “We encourage any person who is a victim of rape or sexual assault, regardless of when it occurred, to report it to police. We will treat your allegations seriously, we will listen to you and we will support you throughout the process.”

    MIL Security OSI –

  • MIL-OSI: ING to redeem Perpetual Capital Securities

    Source: GlobeNewswire (MIL-OSI)

    ING to redeem Perpetual Capital Securities

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

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

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

    Note for editors

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

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

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

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

    Important legal information

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

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

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

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

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

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

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

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

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    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

    Paris, France – February 20, 2025

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

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

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

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

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

    About Viridien:

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

    Contacts

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    The MIL Network –

  • MIL-Evening Report: A new play about Julian Assange, Truth is an intelligent, thoughtful and unsettling work

    Source: The Conversation (Au and NZ) – By Kate Hunter, Senior Lecturer in Art and Performance, Deakin University

    Pia Johnson/Malthouse Theatre

    Truth, the new play from writer-director pair Patricia Cornelius and Susie Dee, dives headfirst into the contentious world of Julian Assange. It offers us a nuanced portrait of the WikiLeaks founder who transformed from hacker wunderkind to global lightning rod.

    An apt celebration of the significant body of work from the acclaimed duo, Truth opens nearly 40 years after the pair created and performed their first collaboration, Lilly and May.

    Assange rose to global prominence by publishing classified documents that exposed government secrets and surveillance programs. He became both a celebrated whistleblower and a controversial figure in debates about transparency and national security.

    Truth unravels the threads of his story.

    Truth reveals the complex legacy of a man whose actions have both championed and challenged modern democracy.
    Pia Johnson/Malthouse Theatre

    A complex legacy

    The work is set in a spare, black-box space, characterised by Matilda Woodroofe’s bureaucratic brutalist design.

    A backdrop of hard mesh enclosures and scaffolded structures evokes a monotonous line of outdoor exercise yards or prison cells. This is flanked by colourless filing cabinets, 80s-style laminated brown desks and office chairs on wheels. A giant LED screen crowns the structure.

    The ensemble (Emily Havea, Tomàš Kantor, James O’Connell, Eva Rees and Eva Seymour) weaves together key moments in Assange’s life, revealing the complex legacy of a man whose actions have both championed and challenged modern democracy.

    Speaking in chorus at times, the actors perform multiple versions of Assange and other characters. They are journalists, whistleblowers, narrators, and include the key figures of Edward Snowden and Chelsea Manning.

    A terrific and youthful ensemble cast delivers sensitive and energised performances.
    Pia Johnson/Malthouse Theatre

    Characterised by Cornelius’ trademark rapid-fire dialogue, the text is tightly calibrated with smart, sparse, dry comments that, at times, comically undercut our Australian sensibilities. As one character says, “the worst thing to be in this country is too smart”.

    The ensemble is physically dynamic and vocally strong. They have a particular choreographic fluidity. A spaciousness and attention to timing allows each performance to land. This is a testament both to Dee’s sharp, contained direction, and a terrific and youthful ensemble cast who deliver sensitive and energised performances.

    From geek to advocate

    The play moves chronologically through Assange’s life. We begin with the rocky early years marked by the dissonance between his sharp intelligence and reputation as computer nerd. We witness his arrests for hacking. We follow his evolution from awkward geek to outspoken advocate for free speech.

    The play offers us a nuanced portrait of the WikiLeaks founder who transformed from hacker wunderkind to global lightning rod.
    Pia Johnson/Malthouse Theatre

    The play is grounded in comprehensive research, and solo moments featuring Snowden and Manning serve as poignant interludes to the fast-paced narrative of Assange’s life events.

    I am struck by the way the work unsettles my preconceptions. The small, stark image of a naked Private Manning in her isolated cell is particularly raw and affecting – but is juxtaposed on stage against Assange’s dubious behaviour towards two young women in Sweden.

    The show clips along, all the while unfolding a nuanced consideration of the complexities of reported narratives and the myriad ways in which journalistic narratives are influenced – and controlled.

    The delivery to the audience is largely direct-address. This risks becoming tedious, but Cornelius’ intelligent style and the ensemble’s strong performance carries through.

    The LED screen is used to great effect. The video design (Meri Blazevski) shifts through rainstorms of binary digits, to list of early Assange manifestos or leaked stories, to pixellated images of actors’ faces as teenage gamers.

    The work is set in a spare, black-box space, characterised by Matilda Woodroofe’s bureaucratic brutalist design.
    Pia Johnson/Malthouse Theatre

    In a long and shocking sequence, we witness drone footage from the Afghanistan war logs accompanied by the chillingly dispassionate commentary of the operators.

    Often, the screen becomes a surface for live video feeds which work to personalise or disembody characters, functioning variously as narrator, witness, and surveillance device. Transitions between closeups, documentation and stark data both drive and complicate the storytelling.

    Kelly Ryall’s composition and sound design – often paired with the pulsing or flashing giant texts on the screen – is a retro-electronic tapestry of victory chimes, synthetic bleeps and Pac Man pings. It is all underscored by deep digital tones and rapid analogue tapping of keyboards.

    A long artistic relationship

    This is an intelligent and thoughtful show that manages to be both complex and entertaining. The play is particularly salient given current global events, challenging us to consider the scale of what we’re up against, how long we should remain silent, and what power – if any – we have to effect change.

    In an era of heated debate about transparency and fake news, Truth emerges as a vital and edgy work in the capable hands of two highly respected theatre makers.

    The work is testament to the longevity of an artistic relationship between two older women that carries decades of embodied knowledge.

    Despite the persistent ageism in Australian theatre that often equates “urgency” exclusively with youth, this work reminds us older artists can and do challenge and disrupt – and bring a special and necessary currency to our cultural life.

    Truth is at Malthouse Theatre, Melbourne, until March 8.

    Kate Hunter 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. A new play about Julian Assange, Truth is an intelligent, thoughtful and unsettling work – https://theconversation.com/a-new-play-about-julian-assange-truth-is-an-intelligent-thoughtful-and-unsettling-work-247909

    MIL OSI Analysis – EveningReport.nz –