NewzIntel.com

Category: Finance

  • MIL-OSI USA: Senator Johnson, Chairman Steil Demand Classified Briefings on Potential Foreign Influence in U.S. Elections

    US Senate News:

    Source: United States Senator for Wisconsin Ron Johnson
    WASHINGTON – On Thursday, U.S. Sen. Ron Johnson (R-Wis.) and U.S. Congressman Bryan Steil (R-Wis.) sent letters to the U.S. Treasury Department, the Federal Bureau of Investigation (FBI), and the Director of National Intelligence (DNI) requesting information on potential election interference through fraudulent donations by foreign actors. In the letter to Treasury, Chairman Steil and Ranking Member Johnson requested Suspicious Activity Reports related to ActBlue. They also requested that all three agencies provide classified briefings on the matter.
    Excerpts from the letters read:
    “As Chairman of the Committee on House Administration (“CHA”) and as the Ranking Member of the Senate Permanent Subcommittee on Investigations (“PSI”), both with broad oversight of our nation’s federal elections, we write to you to raise an urgent concern regarding potential illicit election funding by foreign actors.”
    “CHA has been investigating claims that foreign actors, primarily from Iran, Russia, Venezuela, and China, may be using ActBlue to launder illicit money into U.S. political campaigns. The investigation has indicated that these actors may be exploiting existing U.S. donors by making straw donations without their knowledge.”
    Read the full letters here.
    Background:
    On April 17, 2023, Ranking Member Ron Johnson wrote to the Federal Election Commission (“FEC”) regarding a video posted online by the O’Keefe Media Group on March 28, 2023 alleging that political donations are being made in large amounts to certain political groups without the donors’ knowledge. The FEC refused to confirm or deny whether it is investigating this matter.
    On October 31, 2023, following reports that ActBlue was accepting political contributions without a card verification value (CVV), Chairman Steil sent a letter demanding answers on ActBlue’s practices, questioning if they are complying with federal campaign finance laws and preventing foreign and illegal contributions.
    On November 27, 2023, ActBlue responded to Chairman Steil’s letter saying it did not require a CVV in order to contribute on their website.
    On September 6, 2024, Chairman Steil introduced H.R. 9488, the Secure Handling of Internet Electronic Donations (SHIELD) Act. The legislation prohibits political committees from accepting an online contribution unless the contributor provides the CVV and billing address associated with the card and from accepting online contributions from prepaid cards. It also adopts a top legislative recommendation from the FEC to prohibit individuals from knowingly aiding or abetting a person making a contribution in the name of another person.
    On September 11, 2024, the SHIELD Act passed the Committee on House Administration by a voice-vote.
    On September 18, 2024, Chairman Steil sent letters to the Attorneys General from Texas, Virginia, Arkansas, Florida, and Missouri, updating them on the Committee’s investigation into ActBlue, a major democratic fundraising platform. Along with the letter, the Attorneys General received the data and evidence that the Committee has collected over the course of almost a year. 

    MIL OSI USA News –

  • MIL-OSI: Founder Group Limited Announces Pricing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    SELANGOR, Malyasia, Oct. 22, 2024 (GLOBE NEWSWIRE) — Founder Group Limited (“FGL” or the “Company”), a pure-play, end-to-end engineering, procurement, construction and commissioning (EPCC) solutions provider for solar PV facilities in Malaysia, today announced the pricing of its initial public offering (the “Offering”) of an aggregate 1,218,750 ordinary shares at a public offering price of $4.00 per share for total gross proceeds of $4.875 million, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option (the “Over-Allotment Option”) to purchase up to an additional 182,813 ordinary shares at the initial public offering price, less underwriting discounts.

    The ordinary shares are scheduled to begin trading on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol “FGL”. The Offering is expected to close on or about October 24, 2024, subject to customary closing conditions.

    US Tiger Securities, Inc. (“US Tiger”) is acting as sole underwriter for the Offering. Hunter Taubman Fischer & Li LLC is acting as U.S. legal counsel to the Company, and Sichenzia Ross Ference Carmel LLP is acting as U.S. legal counsel to US Tiger.

    The Offering is being conducted pursuant to the Company’s registration statement on Form F-1 related to the Offering, as amended (File No. 333-281167), which was filed with the United States Securities and Exchange Commission (the “SEC”) and was declared effective on September 30, 2024. The offering of the securities is being made only by means of a prospectus forming a part of the registration statement. Electronic copies of the final prospectus relating to the Offering may be obtained, when available, by visiting the SEC’s website located at http://www.sec.gov or by contacting US Tiger Securities, Inc. at 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.

    This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s securities, nor shall there be any offer, solicitation, or sale of such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Founder Group Limited

    Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The Company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The Company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon-neutrality.

    For more information on the Company, please log on to https://www.founderenergy.com.my/.

    Safe Harbor Statement

    This press release contains forward-looking statements that reflect our current expectations and views of future events, including but not limited to, the Company’s proposed Offering. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the registration statement on Form F-1 related to the Offering, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.

    Contact Information:

    Founder Group Limited Contact:
    Eric Lee
    Chief Executive Officer
    Telephone +03-3358 5638
    Email: ericlee@founderenergy.com.my

    Underwriter Inquiries:
    US Tiger Securities, Inc.
    437 Madison Avenue, FL 27
    New York, NY 10022
    Email: ECM@ustigersecurities.com

    Investor Relations Inquiries:
    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, New York 10036
    Office: (646) 893-5835
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI Economics: ADB Approves $200 Million Loan to Enhance Livability in Uttarakhand, India

    Source: Asia Development Bank

    MANILA, PHILIPPINES (23 October 2024) — The Asian Development Bank (ADB) has approved a $200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services to enhance the quality of life and climate resilience of the people in Uttarakhand state in India.

    The Uttarakhand Livability Improvement Project will improve transportation and urban mobility, drainage, flood management, and overall public services in the city of Haldwani, which serves as the state’s economic hub. To enhance water supply service delivery in Champawat, Kichha, Kotdwar, and Vikasnagar, the project will finance the implementation of efficient and climate-resilient water supply systems.

    “Uttarakhand’s high vulnerability to climate and environmental risks such as floods and droughts adds to the pressing challenges in delivering good public services that are faced by the project towns,” said ADB Senior Urban Development Specialist Pedro Almeida. “With a projected increase in rainfall, temperatures, and flooding and landslides, upgrading infrastructure in these areas is critical not only to improve livability but also to ensure the population’s safety and health.” 

    In Haldwani, the project will develop 16 kilometers (km) of climate-resilient roads, establish an intelligent traffic management system, deploy compressed natural gas buses, and pilot electric buses. To prepare the city against disasters, the project will construct 36 km of stormwater and roadside drains to improve flood management and implement an early warning system. A green-certified administrative complex and bus terminal will be built to improve the delivery of public services. 

    In the towns of Champawat, Kichha, Kotdwar, and Vikasnagar, the project aims to increase water service coverage to 100% by constructing 1,024 km of climate-resilient pipelines with smart water meters, 26 tubewells with a daily capacity of 72,131 cubic meters, new reservoirs with 17,350 cubic meters of storage capacity, and a 3.5 million liter per day water treatment plant. Sanitation coverage in Vikasnagar will be improved by sewage treatment facilities that will benefit around 2,000 households.

    Measures to strengthen the institutional capacity of the Uttarakhand Urban Sector Development Agency and urban local bodies in project management, climate and disaster-resilient planning, and urban infrastructure management will be implemented under the project.

    The project will introduce initiatives for women, such as livelihood skills training on driving buses, bus ticketing, and the operation of electric charging stations. Given women’s role in monitoring water supply systems, the project will build the capacity of women, including those from vulnerable households, in operating and managing water supply and sanitation services. The project will pilot women-led community engagement in water bill distribution and collection in the four towns.

    The European Investment Bank is cofinancing the project with $191 million on a parallel basis, while the state government is contributing $74.9 million—bringing the total project cost to $465.9 million.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.
     

    MIL OSI Economics –

  • MIL-OSI Security: Buffalo man sentenced for buying stolen data from Genesis Market

    Source: Office of United States Attorneys

    BUFFALO, N.Y. — U.S. Attorney Trini E. Ross announced today that Wul Isaac Chol, 27, of Buffalo, NY, who was convicted of possession of 15 or more unauthorized access devices with intent to defraud, was sentenced to serve 20 months in prison by U.S. District Judge John L. Sinatra, Jr.

    Assistant U.S. Attorney Charles M. Kruly, who handled the case, stated that Genesis Market is an online marketplace whose operators compile stolen data, such as computer and mobile device identifiers, email addresses, usernames, and passwords, from malware-infected computers around the globe and package it for sale on the market. Purchases made through Genesis Market are conducted using virtual currency, such as bitcoin. Between June 2019, and January 2021, Chol deposited approximately $105.08 worth of bitcoin in a Genesis account that he had created. Chol used the funds he deposited in his Genesis account to purchase 21 packages of unauthorized access devices. Those packages contained, in total, approximately 778 unauthorized access devices. In addition, Chol admits that he obtained, without authorization, $25,164.00 from the New York State Department of Labor.

    The sentencing is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Matthew Miraglia.

    # # # #

    MIL Security OSI –

  • MIL-OSI Security: Buffalo man pleads guilty to bilking two banks out of nearly half a million dollars

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that Joshua Parra, 32, formerly of Buffalo, NY, now living in Melbourne, Florida, pleaded guilty before U.S. Magistrate Judge Michael J. Roemer to bank fraud, which carries a maximum penalty of 30 years in prison and a $1,000,000 fine. 

    Assistant U.S. Attorney Charles M. Kruly, who is handling the case, stated that between December 28, 2021, and January 6, 2022, Parra defrauded Bancorp and Stride Bank by creating 94 fictitious disputed transactions on behalf of 11 customers of Fintech Company 1, a financial technology company that offers customers mobile banking services. However, none of the 11 customers’ accounts with Fintech Company 1 had transactions that would justify such disputes. Nearly all of the fictitious disputed transactions were in the amount of $5,000. As a result, funds were transferred from settlement accounts, held at Bancorp and Stride Bank, to accounts maintained by the Fintech Company 1 customers for whom Parra created the fictitious disputed transactions. Losses to Bancorp and Stride Bank totaled approximately $459,000.

    The plea is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, under the direction of Special Agent in Charge Thomas Fattorusso, and the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Miraglia.  

    Sentencing will be scheduled at a later date.   

    # # # #

    MIL Security OSI –

  • MIL-OSI Security: Ringleader and Insider Each Sentenced to Prison in Bank Fraud Conspiracy

    Source: Office of United States Attorneys

    ALBANY, NEW YORK – Allahson Allah, age 54, of Albany, and Caeshara Cannon, age 35, of Albany, were sentenced this week to federal prison for their roles in a bank fraud conspiracy targeting SEFCU.  United States Attorney Carla B. Freedman and Erin Keegan, Special Agent in Charge of the Buffalo Field Office of Homeland Security Investigations (HSI), made the announcement. 

    According to an indictment returned last year, court records, and statements made by prosecutors in court, between February 2022 and October 2022, Allah, together with codefendant Evan Cutler, age 25, of Queensbury, New York, managed a conspiracy targeting SEFCU in which the conspirators obtained customer personal identifying information and impersonated people to fraudulently obtain cash and credit from SEFCU.  Cannon was a Member Service Representative at SEFCU and provided Allah and Cutler with customer account information to use in creating counterfeit checks that were presented for negotiation at SEFCU branches all over the Capital Region.  The conspirators also applied for loans at SEFCU in the names of individuals whose identities they had stolen and withdrew the proceeds in cash. In total, the conspiracy netted the conspirators $88,800, with intended losses of over $100,000.

    Yesterday, Allah was sentenced by United States District Judge Anne M. Nardacci to a total term of imprisonment of 57 months, followed by 3 years’ post-release supervision, and was ordered to pay restitution to SEFCU in the amount of $88,800.   Today, Cannon was sentenced by Judge Nardacci to a term of imprisonment of 16 months, followed by 2 years’ post-release supervision.  Cannon was also ordered to pay restitution to SEFCU in the amount of $77,200.

    Coconspirator Davon Parson, age 20, of Albany, was sentenced earlier this year to 15 months’ incarceration followed by 2 years’ post-release supervision, with restitution in the amount of $9,000, following his plea to bank fraud conspiracy and aggravated identity theft.  Coconspirators Cutler and Dnauticah Taylor-Sterman, age 21, of Albany, have also pled guilty to bank fraud conspiracy and aggravated identity theft and are scheduled to be sentenced later this year. 

    HSI investigated the case, with assistance from the Bethlehem Police Department.  Assistant United States Attorney Benjamin S. Clark is prosecuting this case.

    MIL Security OSI –

  • MIL-OSI Security: Half-Brothers Sentenced for Murdering their Sister and her Family, Including Three Children, in their Tijuana Home

    Source: Office of United States Attorneys

    SAN DIEGO – Half-brothers Christopher Baltezar Hernandez and Victor Armondo Aguilar were sentenced in federal court today to six consecutive life terms and 45 years, respectively, for the premeditated execution of their sister, her three children – ages 9, 8 and 4 – and her significant other in their Tijuana home. The siblings had been involved in a bitter dispute over property prior to the murder.

    “I cannot understand how one can point a gun in front of a child’s face and pull the trigger,” U.S. District Judge Linda Lopez told the defendants during the sentencing hearing. She described the murders as “horrific,” “completely incomprehensible,” and “cold, intentional, planned, calculated, and callous.”

    Aguilar, of Tijuana, pleaded guilty in October 2023 and Hernandez, of Fresno, California, pleaded guilty in December 2023, each to a single count of conspiring to murder a U.S. citizen in a foreign country and five counts of stalking resulting in death. The half-brothers are U.S. citizens. The sister and her children were also U.S. citizens; the significant other was a Mexican national.

    According to their plea agreements, on December 3, 2021, the day of the murders, Hernandez traveled from Fresno to Tijuana through San Diego, armed with an assault rifle, .223 caliber ammunition, and two revolver speed loaders. Hernandez met up with Aguilar in Tijuana, where they acquired a revolver.

    The half-brothers, armed with the firearms and wearing dark clothes and gloves, went to the victims’ residence in Tijuana. According to the plea agreements, which identified the victims by their initials, the defendants first shot and killed the sister, J.H., and her eight-year-old daughter, A.M.M., in the kitchen. The significant other, G.M.V., was shot and killed in a bedroom while he attempted to shield the other two children. The bedroom door was forced open and nine-year-old A.M. and four-year-old S.M. were each shot in the head.

    “Borders do not shield criminals from justice when Americans are victimized abroad,” said U.S. Attorney Tara McGrath. “These executioners were charged, convicted, and held to account in a U.S. court. The Department of Justice will continue to use every available tool to protect Americans from harm at home and abroad.”

    “Jealousy and greed led to one family’s devastating loss of five loved ones,” said FBI San Diego Special Agent in Charge Stacey Moy. “Hernandez’s and Aguilar’s well-deserved prison sentences reflect their total disregard for human life. While their imprisonment will never bring back these lives, we hope it offers some peace to the victims’ family. The FBI, alongside our local and international law enforcement partners, remains dedicated to seeking justice and will not hesitate to hold accountable those involved in violent crimes, whether in the United States or abroad.”

    While there were likely multiple motivations for the murders, the primary reason was a dispute over the ownership of numerous properties in Mexico. According to court documents, in the months leading up to the murders, the sister retained an attorney to help in the property dispute, which prompted Hernandez to text her: “We already know about the lawyer.” Hernandez asked, “You think you can just fuck us over and nothing will happen?” Hernandez then mentioned J.H.’s attorney’s name and that he had the attorney “in are[sic] hands.” Hernandez continued to say, “Fuck you and all your family” and, “The truth is I’m not fucking around. You thought you were going to make a dumbass out of me but no. You’re not going to have anything.” Hernandez then challenged J.H. to “…try me and see how much you can handle because with me you’re not going to be able to finish it.”

    Hernandez had a long history of threats against his sister and her children. In May 2019, J.H. called 911 stating Hernandez was threatening to shoot her and her kids in the head. Hernandez and J.H. had the same parents; Aguilar and J.H. were half-siblings. It’s unclear if J.H. and her significant other were married.

    According to the plea agreements, the murders occurred after months of meticulous and obsessive planning and premeditation. Hernandez and Aguilar had researched the victims’ address and the surrounding area online more than 200 times. Hernandez also bought the parts and built a fully functional .223 caliber assault rifle. The week before, Hernandez researched “ar15 jam clearing” and “ar15 room clearing” and watched ten different videos related to tactical firearms training. Hernandez also researched how to build a hidden compartment in his Toyota Corolla and discussed contingency plans with others, among other preparatory steps. The day before the murders, Hernandez bought a pair of revolver speed loaders, and on the day of the murders, Hernandez and Aguilar acquired a revolver in Tijuana, Mexico.

    Aguilar searched for and listened to a podcast related to homicide investigations just hours before the murders. Minutes before the murders, Hernandez removed the SIM card from his phone, and returned it about a half-hour after the murders.

    Following the murders, Hernandez researched numerous news articles about the killings and searched, “does the fbi investigate murders.” Hernandez and Aguilar also deleted their location and messaging history.

    This case is being prosecuted by Assistant U.S. Attorneys Mario Peia, Matthew Brehm and Fred Sheppard.

    DEFENDANTS                                             Case Number 22cr778-LL                              

    Christopher Baltezar Hernandez                    Age: 27                                   Fresno, CA

    Victor Armondo Aguilar                                Age: 22                                   Tijuana, MX

    SUMMARY OF CHARGES

    Conspiracy to Murder – Title 18, U.S.C., Section 1117

    Maximum penalty: Life in prison

    Stalking Resulting in Death – Title 18, U.S.C., Section 2261A

    Maximum penalty: Life in prison

    INVESTIGATING AGENCIES

    Federal Bureau of Investigation

    San Diego County Sheriff’s Department

    MIL Security OSI –

  • MIL-OSI Economics: Money Market Operations as on October 22, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 563,557.45 6.65 5.10-6.85
         I. Call Money 9,130.51 6.65 5.10-6.85
         II. Triparty Repo 408,209.20 6.66 6.45-6.80
         III. Market Repo 145,104.74 6.61 6.00-6.85
         IV. Repo in Corporate Bond 1,113.00 6.75 6.70-6.85
    B. Term Segment      
         I. Notice Money** 281.00 6.65 6.00-6.90
         II. Term Money@@ 501.50 – 6.45-6.95
         III. Triparty Repo 657.00 6.70 6.60-6.75
         IV. Market Repo 874.20 6.66 6.62-6.80
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 22/10/2024 1 Wed, 23/10/2024 2,603.00 6.75
    4. SDFΔ# Tue, 22/10/2024 1 Wed, 23/10/2024 67,234.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -64,631.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 18/10/2024 13 Thu, 31/10/2024 20,073.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,388.93  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -9,144.07  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -73,775.07  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 22, 2024 1,002,750.84  
         (ii) Average daily cash reserve requirement for the fortnight ending November 01, 2024 1,016,726.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 22, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 04, 2024 488,495.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1356

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: LCQ14: Mainland Travel Permits for Hong Kong and Macao Residents (non-Chinese Citizens)

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Kennedy Wong and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (October 23):Question:     The Exit and Entry Administration of the country announced on July 1 this year the issuance of Mainland Travel Permits for Hong Kong and Macao Residents (non-Chinese Citizens) (non-Chinese Permits) to non-Chinese Hong Kong permanent residents who make an application starting from the 10th of that month. In this connection, will the Government inform this Council:(1) given that since September 1, 2018, relevant Mainland authorities have further facilitated the use of the Mainland Travel Permit for Hong Kong and Macao Residents (commonly known as Home Return Permit) by Hong Kong and Macao residents for easy application of the Home Return Permit in areas such as transport, finance, communications, education, healthcare, social security, industry and commerce, taxation and accommodation, and the Secretary for Labour and Welfare said in July this year that the measures relating to the non-Chinese Permit would be conducive to the talent exchange between the Mainland and Hong Kong and further facilitate Hong Kong’s better integration into the overall development of the country and its contribution to the country’s high-‍quality development, but it is learnt that currently holders of non-‍Chinese Permits are still unable to enjoy any convenience on the Mainland, including their inability to directly open bank accounts, apply for telephone cards and purchase railway tickets, whether the authorities will seek to secure the wider and more convenient use of the non-Chinese Permit on the Mainland, so that holders of the permit can enjoy the same convenience afforded to holders of the Home Return Permit; if so, of the specific details; if not, the reasons for that;(2) of the total number of persons who have applied for non-Chinese Permits so far, their main nationalities and the situation of their use of the permit; and(3) of the channels used by the Government to promote the non-Chinese Permit, so as to ensure that non-Chinese residents in Hong Kong who are eligible can receive the relevant information in a timely manner, and whether assistance is provided for holders of non-Chinese Permits at the relevant control points?Reply:President,     The Government of the Hong Kong Special Administrative Region (HKSAR) warmly welcomes and expresses gratitude to the country for issuing non-Chinese Hong Kong permanent residents a card???type document with five-year validity (Mainland Travel Permit for Hong Kong and Macao Residents (non-Chinese Citizens)) with effect from July 2024. The new measure represents a major policy breakthrough under “one country, two systems” implemented by the Mainland authorities with innovative thinking and fully highlights the unique status of the HKSAR.     Before the introduction of the new measure, foreigners (including non-Chinese Hong Kong permanent residents) could only go through the manual channels at control points of the Mainland with their foreign passports and fill in an arrival card each time. Even though persons of certain nationalities can enjoy visa-free access to the Mainland, they still have to use the manual channels for clearance using their passports at Mainland control points. After the introduction of the new measure, individuals holding the card-type document are able to enjoy self-service clearance at control points of the Mainland, and they are no longer required to fill in any arrival card. It has significantly enhanced clearance efficiency and facilitated access to the Mainland for business, travelling and visiting relatives by non-Chinese Hong Kong permanent residents.     In consultation with the Constitutional and Mainland Affairs Bureau, the Commerce and Economic Development Bureau (CEDB), Invest Hong Kong (InvestHK), the Information Services Department (ISD) and the Home Affairs Department (HAD), my reply to the various parts of the question is as follows:(1) The issuance of new card-type document to non-Chinese Hong Kong permanent residents has significantly enhanced clearance convenience. We understand that various sectors of the community expect wider use of the new document on the Mainland. The HKSAR Government has been in close communication with relevant Mainland authorities and will continue to do so in enhancing the level of convenience of Hong Kong residents living on the Mainland, with a view to promoting better integration of the HKSAR into the overall development of the country.(2) The application, approval, and issuance of the new card-type document fall within the remit of the Mainland authorities. According to the figures provided by the Exit and Entry Administration of the country (EEA), from July to mid-October 2024, a total of about 55 000 non-Chinese Hong Kong permanent residents had made appointments for application, and about 20 000 new card-type documents were issued by the EEA. The number of visitor arrivals/departures made using the card-type document amounted to a total of 53 000. Applicants mainly included nationals from European, North American, Southeast and South Asian countries.     Based on the HKSAR Government’s understanding, the first batch of people who obtained and used the card-type document for travelling to the Mainland (including those from the business and school sectors) greatly welcomed the new measure. They also considered that the measure could substantially shorten the clearance time and fully satisfy their needs for visiting the Mainland for business, academic and cultural exchanges, and travelling purposes. Some of them also said that the measure had given them a stronger sense of identity and facilitated their greater participation in the development of the Greater Bay Area (GBA).(3) The Security Bureau has been actively promoting the new measure together with relevant bureaux and departments, including the CEDB, InvestHK, the ISD, the HAD, as well as Hong Kong Economic and Trade Offices overseas and on the Mainland, etc. Apart from promoting through various channels, including mass media and social media, we have been particularly promoting this measure to foreign chambers of commerce in Hong Kong, encouraging international talents of Hong Kong companies who are permanent residents to make use of the card-type document to better seize the opportunities of the country’s rapid development, especially in the building of the GBA. In addition, we have especially introduced the measure to ethnic minorities through the eight support service centres for ethnic minorities funded by the HAD and promoted the measure to ethnic minority groups, community groups and schools, etc. through relevant District Offices in districts where more ethnic minorities live.     We have also been maintaining close communication with the Mainland authorities to ensure the smooth implementation of first-time registration for the use of this permit and clearance arrangement at Mainland control points, including the provision of more directional signs in English and additional manpower to assist card holders when necessary.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ19: Supporting the development of the logistics industry

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Frankie Yick and a written reply by the Secretary for Transport and Logistics, Mr Lam Sai-hung, in the Legislative Council today (October 23):Question:     According to the Action Plan on Maritime and Port Development Strategy promulgated by the Government in December last year, the maritime and port industry, with economic contribution accounting for 4.1 per cent of gross domestic product, facilitates the growth of trade and logistics industry as one of the four major economic pillars in Hong Kong. However, it has been reported that with the rapid development of neighbouring ports, the container throughput of Hong Kong has been on a downtrend, and some major ocean-‍going cargo shipping companies have even removed Hong Kong from their voyage itineraries, thus further affecting Hong Kong’s container throughput. In this connection, will the Government inform this Council:(1) of the follow-up actions taken by the Government in response to the removal of Hong Kong from the voyage itineraries of some major ocean-going cargo shipping companies; whether it will introduce measures to attract these cargo shipping companies to put Hong Kong back on their voyage itineraries, including making reference to the practices of Singapore and the Mainland to exempt controlled goods for transhipment from licensing requirements, or streamlining the relevant procedures; if so, of the details; if not, the reasons for that;(2) given that Hong Kong is an important entrepot for the Mainland, but cross-boundary land freight has been affected by the drop in container throughput of the Hong Kong port, and quite a number of cross-boundary goods vehicles have been forced to lie idle, of the progress of the Government’s work in developing new cargo sources for the cross-boundary land freight sector; and(3) as it is learnt that in the face of insufficient cargo volume, some small and medium enterprises in the logistics industry are on the verge of closing down, whether the authorities will introduce support measures to relieve the financial pressure of the industry; if so, of the details; if not, the reasons for that?Reply: President,     Hong Kong is an international maritime centre, with its port being one of the world’s busiest and most efficient ports and its comprehensive strengths in terms of port conditions, professional maritime service and overall business environment among the world’s best. Hong Kong also ranked fourth in the 2024 Xinhua-Baltic International Shipping Centre Development Index.       To further consolidate our status as an international maritime centre, further to the promulgation of the Action Plan on Maritime and Port Development Strategy in December 2023, the Transport and Logistics Bureau (TLB) will take forward various measures as announced in the 2024 Policy Address in full steam, including reconstituting the existing Hong Kong Maritime and Port Board (HKMPB) into the “Hong Kong Maritime and Port Development Board”, actively fostering the development of smart port, stepping up the promotion of green transformation of registered ships, developing a green maritime fuel bunkering centre, as well as promoting the development of high value-added maritime and professional services, such as the enhancement of tax concessions relating to ship lessors and shipping commercial principals, encouragement of leading or high-potential marine insurance operators to establish presence in Hong Kong and exploration of tax concessions relating to commodity trading, thereby strengthening the local maritime ecosystem. We will materialise the aforesaid measures in a proactive manner in order to boost the competitiveness of the maritime industry.     Our reply to Hon Frankie Yick’s question is as follows:(1) Enhancing port competitiveness is one of the four major directions of development mentioned in the Action Plan on Maritime and Port Development Strategy. As a major transshipment port in the region, enhancing Hong Kong’s attractiveness as a cargo transshipment hub, promoting the strengths of Hong Kong Port (HKP) and strengthening co-operation with the Mainland are important means to boost port cargo transshipment throughput.     In terms of enhancing Hong Kong’s attractiveness as a cargo transshipment hub, as announced by the Chief Executive in his 2024 Policy Address, the Government is exploring the feasibility of extending the arrangements under the Air Transhipment Cargo Exemption Scheme, that is, exempting the import and export licence requirements on specified controlled commodities, to other intermodal cargo transshipment modes, including sea-to-sea transshipment. In addition, in view of the international maritime industry’s increasing concern about decarbonisation, we will develop Hong Kong into a green maritime fuel bunkering centre, so as to attract ocean-going vessels using green maritime fuels to call at Hong Kong, thereby enhancing the competitiveness of HKP.     As regards promoting the strengths of HKP, the Government has been working with the industry to strengthen external promotion and liaison. For example, HKMPB visited Tokyo, Japan and Hamburg, Germany as well as Athens, Greece in Europe, in July and September this year respectively to visit various ports and companies in the maritime industry. It will also visit the Middle East at the end of this year, with a view to allowing the relevant stakeholders there to learn about the strengths and latest development of Hong Kong’s maritime and port industry, and explore new cooperation opportunities.     Regarding enhancing cooperation with the Mainland, the container terminal operators of Hong Kong, with the support of the Government, have signed multiple cooperation agreements with different regions of the Mainland. Amongst others, Hong Kong container terminal operators signed a memorandum of understanding on cooperation with Guangxi Beibu Gulf International Port Group in May 2024 to strengthen Hong Kong-Guangxi cooperation on the port and logistics fronts. In August 2024, under the cooperation between a Hong Kong container terminal operator and Shenzhen Yantian Port, the Chongqing-Shenzhen-Hong Kong scheduled rail-sea service commenced, which allows export cargoes from Chongqing to be exported via Shenzhen Yantian Port and Kwai Tsing Container Terminals in Hong Kong through the sea-rail intermodal transshipment mode, thereby bringing more cargo to Hong Kong. In addition, Hong Kong’s port industry is also cooperating with Shenzhen Dachan Bay Terminals on handling high-value cold chain products by facilitating fast and efficient transshipment of containers from Hong Kong to Dachan Bay by barges, so that the relevant cargoes can reach cities in the Greater Bay Area (GBA) speedily, thereby strengthening HKP’s connectivity with other ports and cargo sources in the Mainland.(2) As a regional logistics hub, Hong Kong has all along been one of the major gateways for air and sea cargoes to and from the GBA. With the commissioning of the Hong Kong-Zhuhai-Macao Bridge (HZMB), the driving distance between Hong Kong and Western Guangdong and Guangxi has been greatly shortened, thereby further unleashing the enormous potential for logistics cooperation between Hong Kong and the two aforesaid places. For this reason, the Government has proposed in the Action Plan on Modern Logistics Development to actively explore new cargo sources and new opportunities for cross-boundary land freight transport in relation to Western Guangdong and its neighbouring regions by enhancing multimodal transport measures and making good use of the HZMB.     The TLB has been actively discussing with Zhuhai on enhancing synchronised development on the logistics front between Hong Kong and Zhuhai by making good use of the HZMB. The TLB also visited Zhuhai in March 2023 together with the Hong Kong Logistics Development Council to learn about Zhuhai’s logistics development and explore cooperation opportunities. Apart from Zhuhai, the Secretary for Transport and Logistics also led a delegation to Zhanjiang, Guangdong, in June 2024 to learn about the business opportunities in logistics development between Hong Kong and Zhanjiang arising from the “New Land-Sea Corridor for Western Regions”. In addition, the Transport and Logistics Bureau also signed the “Framework Agreement on Deepening Strategic Co-operation for the Guangxi-Hong Kong Task Force on Transport and Logistics” with the Department of Transport of Guangxi in May this year, with a view to strengthening logistics cooperation with Guangxi, including cross-boundary land freight logistics.     The TLB will continue to enhance liaison and cooperation with Western Guangdong and its neighbouring regions, with a view to further enlarging the cargo catchment for Hong Kong’s cross-boundary land freight logistics sector.(3) The Government has been supporting the development of Hong Kong’s logistics industry through various measures. In terms of financial assistance, since 2020, the Government has been providing assistance to eligible logistics service providers through the $300 million Pilot Subsidy Scheme for Third-party Logistics Service Providers, with a view to supporting local logistics industry, especially small- and medium-sized third-party logistics service providers, to increase productivity by applying technology. On the other hand, we are also supporting logistics practitioners in receiving training, and providing sponsorship for logistics enterprises to engage interns, through the Professional Training on Smart and Green Logistics Scheme under the Maritime and Aviation Training Fund and Internship Scheme on Modern Logistics, respectively. In addition, the Chief Executive has announced in his 2024 Policy Address a number of measures to support small and medium enterprises (SMEs), including allowing borrowing enterprises (including those in the logistics sector) under the SME Financing Guarantee Scheme (SFGS) to apply for principal moratorium for up to 12 months, and at the same time, offering the partial principal repayment options to new loans under the 80 per cent and 90 per cent guarantee products of the SFGS, so as to alleviate the repayment burden on SMEs, thereby creating more room for them to seize the opportunities brought about by economic recovery.     Enlarging cargo catchment and increasing cargo throughput is the most practical means to assist logistics enterprises. Hence, the Government will continue to implement various strategies and action measures set out in the Action Plan on Modern Logistics Development promulgated in October 2023, including enhancing intermodal connectivity by implementing the Three-Places-One-Lock Scheme and the dedicated express route for air and land fresh and live products, making good use of HZMB and enhancing promotion of Hong Kong’s strengths in logistics development in the Mainland and overseas, with a view to attracting more cargoes to be transshipped through Hong Kong.     The Government will, through the Hong Kong Logistics Development Council and other platforms, continue to maintain communication with the trade, closely monitor the latest development of the logistics industry and introduce suitable measures at appropriate junctures to support the sustainable development of the logistics sector.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Digital accounting and computer vision: how Moscow is developing information services in the financial sector

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    The capital has been developing information technologies in the field of public finance for more than 12 years. This was stated Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance, at the panel discussion “The Digital Future of the Budget: Technologies and Efficiency” at the Moscow Financial Forum.

    “Today, each city sector has its own technological platform, on which both its management and the provision of services to city residents and other end users are built. And the sphere of public finances is no exception. Due to the creation of modern services, their integration with city and federal information systems, we have significantly increased the quality and speed of the budget process in Moscow, and in general, a colossal paradigm shift has occurred,” the head of the department said.

    In Moscow, digitalization has helped to get rid of paper document flow, create digital workplaces, increase the speed of payments and strengthen control over the use of budget funds. Big data processing systems have made it possible to conduct a detailed industry analysis of budget revenues, monitor the state of the economy and significantly increase the accuracy of assessing the income of the city treasury.

    The discussion participants emphasized that further digitalization is impossible without deepening integration between departmental information and analytical systems, developing unified standards for managing and accounting budget funds. Big data processing technologies and artificial intelligence algorithms are coming to the forefront today.

    The use of artificial intelligence algorithms significantly expands the capabilities of financiers: the machine can be trusted to carry out routine operations and free up the time of specialists for analytical work.Department of Finance of the City of Moscow already working service using computer vision when authorizing transactions of treasury support participants. In addition, the department is implementing algorithms for robotizing the formation and authorization of payment documents for payment of government contracts.

    A fundamentally new system has made it possible to unify budget accounting procedures in Moscow centralized budget accounting model. It enables accounting according to general rules using a single chart of accounts and document forms and at the same time in accordance with the specifics of various urban economic complexes. Digital accounting allows obtaining large data sets and comparing the financial and economic performance indicators of institutions.

    Together with the Federal Treasury of the Russian Federation Department of Finance of the City of Moscow is working on the implementation of customer-oriented services. This is the use of the Mir payment system for all types of social payments to residents of the capital and the creation of an automated payment system for city purchases of goods and services using fast payment technology.

    “In the future, budget management will be based on constant diagnostics of changing conditions. On the one hand, it will become fast and flexible, comfortable for all participants in the process, and on the other hand, it will eliminate possible errors as much as possible and provide a high level of security,” Elena Zyabbarova emphasized.

    The use of digital technologies to improve the quality of life of city residents is in line with the objectives of the national program “Digital Economy of the Russian Federation” and the Moscow regional project “Digital Public Administration”. More information about this and other national projects implemented in the capital can be found Here.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145637073/

    MIL OSI Russia News –

  • MIL-OSI Security: Statement of United States Attorney Clare E. Connors Regarding November 2024 General Election

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    HONOLULU – United States Attorney Clare E. Connors announced today that Assistant United States Attorney (AUSA) Michael Nammar will lead the efforts of her Office in connection with the Justice Department’s nationwide Election Day Program for the upcoming November 5, 2024, general election. AUSA Nammar has been appointed to serve as the District Election Officer (DEO) for the District of Hawaii, and in that capacity is responsible for overseeing the District’s handling of election day complaints of voting rights concerns, threats of violence to election officials or staff, and election fraud, in consultation with Justice Department Headquarters in Washington.

    “Every citizen must be able to vote without interference or discrimination and to have that vote counted in a fair and free election,” said United States Attorney Connors. “Similarly, election officials and staff must be able to serve without being subject to unlawful threats of violence. The Department of Justice will always work tirelessly to protect the integrity of the election process.”

    The Department of Justice has an important role in deterring and combatting discrimination and intimidation at the polls, threats of violence directed at election officials and poll workers, and election fraud. The Department will address these violations wherever they occur. The Department’s longstanding Election Day Program furthers these goals and also seeks to ensure public confidence in the electoral process by providing local points of contact within the Department for the public to report possible federal election law violations.

    Federal law protects against such crimes as threatening violence against election officials or staff, intimidating or bribing voters, buying and selling votes, impersonating voters, altering vote tallies, stuffing ballot boxes, and marking ballots for voters against their wishes or without their input. It also contains special protections for the rights of voters, and provides that they can vote free from interference, including intimidation, and other acts designed to prevent or discourage people from voting or voting for the candidate of their choice. The Voting Rights Act protects the right of voters to mark their own ballot or to be assisted by a person of their choice (where voters need assistance because of disability or inability to read or write in English).

    United States Attorney Connors stated that: “The franchise is the cornerstone of American democracy. We all must ensure that those who are entitled to the franchise can exercise it if they choose, and that those who seek to corrupt it are brought to justice. In order to respond to complaints of voting rights concerns and election fraud during the upcoming election, and to ensure that such complaints are directed to the appropriate authorities, AUSA/DEO Nammar will be on duty in this District while the polls are open. He can be reached by the public at the following telephone number: 808-541-2850.”

    In addition, the FBI will have special agents available in each field office and resident agency throughout the country to receive allegations of election fraud and other election abuses on election day. The local FBI field office can be reached by the public at 808-566-4300.

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.

    United States Attorney Connors said, “Ensuring free and fair elections depends in large part on the assistance of the American electorate. It is important that those who have specific information about voting rights concerns or election fraud make that information available to the Department of Justice.”

    Please note, however, in the case of a crime of violence or intimidation, please call 911 immediately and before contacting federal authorities. State and local police have primary jurisdiction over polling places, and almost always have faster reaction capacity in an emergency.

    MIL Security OSI –

  • MIL-OSI: Planisware – Q3 2024 revenue

    Source: GlobeNewswire (MIL-OSI)

    Q3 2024 revenue of € 47.0 million

    • Year-on-year revenue growth in constant currencies of +18.7% in Q3 and +19.3% for the 9 first months of the year
    • Record high commercial pipeline but longer customer decision-making process driving delayed signature and start of new contracts
    • More cautious view on revenue growth in Q4
    • Improving profitability thanks to continuous progress in operational efficiency and better activity mix
    • Revision of 2024 objectives announced in September 2023:
      • 2024 revenue growth in constant currencies between +17% and +18%
        (vs. c. 19.5%)
      • Adjusted EBITDA margin raised to approximately 34% (vs. c. 33%)
      • Cash Conversion Rate of c. 80% confirmed

    Paris, October 23, 2024 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its revenue for the third quarter of 2024. Revenue amounted to € 47.0 million, up by +18.2% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +18.7% (€+7.4 million) in Q3 and +19.3% (€+21.6 million) for the first nine months of the year. Recurring revenue amounted to €41.4 million in Q3 (88% of revenue) and was up by +21.2% in constant currencies.

    Loïc Sautour, CEO of Planisware, commented: “During the third quarter of 2024, Planisware delivered a solid +18.7% revenue growth in constant currencies, led by the continued success of our SaaS operations. This was a bit lower than expected due to elongated customers’ decision-making process since the end of the summer on the back of political concerns in France and difficulties seen in some of our key verticals such as automotive.

    Taking into account some uncertainties in the closing timing of delayed signatures and the start of some contracts, we adopt a cautious view for the end of the year. As a results, we now target annual revenue growth between +17% and +18% in constant currencies.

    In parallel, we continue to benefit from the evolution of our activity mix and to deliver further operational efficiencies on employee-related costs enabling to raise our 2024 profitability objective to c. 34% while confirming our cash conversion rate objective of c. 80%.

    Beyond the current quarter, we continue to build on our record high commercial pipeline fuelled by increasing demands for strategic portfolio management tools that help companies to better align their resources with strategic business goals. This dynamic is paving the way towards our ambition to be the accelerator of the Project Economy and the number one provider of multi-specialty project and portfolio management software solutions.”

    Q3 2024 revenue by revenue stream

    In € million Q3 2024 Q3 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 41.4 34.3 +20.7% +21.2%
    SaaS & Hosting 20.8 17.1 +21.9% +22.3%
    Evolutive support 13.0 10.4 +24.6% +25.2%
    Subscription support 2.8 2.2 +29.4% +30.3%
    Maintenance 4.8 4.6 +3.8% +4.1%
    Non-recurring revenue 5.6 5.1 +8.3% +8.7%
    Perpetual license 2.0 1.3 +57.3% +58.0%
    Implementation & others non-recurring 3.5 3.8 -8.1% -7.9%
    Revenue with customers 47.0 39.4 +19.1% +19.6%
    Other revenue – 0.3    
    Total revenue 47.0 39.7 +18.2% +18.7%

    * Revenue evolution in constant currencies, i.e. at Q3 2023 average exchange rates

    Reaching €47.0 million in Q3 2024, revenue was up by +18.2% in current currencies and +18.7% in constant currencies. The exchange rates effect was mostly related to the appreciation of the euro versus the US dollar and the Japanese yen compared to Q3 2023. In order to reflect the underlying performance of the Company independently from exchange rates fluctuations, the following analysis refers to revenue evolution in constant currencies, applying Q3 2023 average exchange rates to Q3 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 88% of Q3 2024 revenue versus 86% in Q3 2023, recurring revenue reached €41.4 million, up by +21.2%.

    Revenue growth was fully led by Planisware’s SaaS model (i.e. SaaS & Hosting and Evolutive & Subscription support) up +23.9%, with SaaS & Hosting revenue up by +22.3% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +26.1%.

    Maintenance revenue was up by +4.1% in the context of the Group’s shift from its prior license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was up by +8.7%, helped by perpetual licenses extensions and upgrades sold in Q3 2024 to established customers with specific on-premise needs.

    The continued effort to deliver shorter implementations and to bring value faster to customers continued to drive down the planned revenue decline in Implementation. At -7.9% in Q3, revenue decline was accented by delays in the start of projects.

    Confirmed leadership of Planisware

    Planisware’s broad recognition from third-party industry analysts was further confirmed by the latest 2024 Gartner® “Magic QuadrantTMfor Adaptive Project Management and Reporting report.” published on September 5, 2024 and in which Gartner reasserted Planisware as a Leader, emphasizing “robust integrations, dynamic reporting, and native collaboration functionality” and a roadmap that “includes investments to bolster objective and key result (OKR) capabilities, automate work effort tracking, and deliver additional AI-driven features”.

    2024 objectives

    During its process to prepare its IPO, Planisware communicated to investors its 2024 objectives as early as September 2023.

    Planisware communicates today a revised set of 2024 objectives to take into account the uncertainties in the closing timing of delayed signatures and the start of some contracts. The Group adopts a more cautious view for year-end revenue growth. In parallel, continuous progress in operational efficiency and improving activity mix enable Planisware to raise its profitability objective, while confirming its objective for cash generation. As a consequence, Planisware’s 2024 objectives are:

    • Revenue growth in constant currencies between +17% and +18% (c. 19.5% priorly)
    • Adjusted EBITDA margin of approximately 34% (approximately 33% priorly)
    • Cash Conversion Rate of c.80% confirmed

    Appendices

    YTD 2024 revenue by revenue stream

    In € million 9M 2024 9M 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 118.0 96.4 +22.5% +22.9%
    SaaS & Hosting 59.6 46.6 +27.8% +28.0%
    Evolutive support 35.9 29.8 +20.4% +21.1%
    Subscription support 8.4 6.3 +34.8% +35.0%
    Maintenance 14.1 13.6 +3.4% +3.5%
    Non-recurring revenue 15.5 15.3 +1.9% +2.0%
    Perpetual license 6.1 3.6 +70.1% +70.4%
    Implementation & others non-recurring 9.4 11.7 -19.2% -19.1%
    Revenue with customers 133.6 111.6 +19.7% +20.0%
    Other revenue – 0.7    
    Total revenue 133.6 112.3 +18.9% +19.3%

    * Revenue evolution in constant currencies, i.e. at 9M 2023 average exchange rates

    Q3 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on October 23, 2024 at 8:00am CET to details Q3 2023 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • February 27, 2025:        FY 2024 results publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With more than 700 employees across 14 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”). For more information, visit: https://planisware.com/

    Connect with Planisware on: LinkedIn and X (formerly Twitter).

    Disclaimer

    Forward-looking statements

    This document contains statements regarding the prospects and growth strategies of Planisware. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as “considers”, “envisages”, “believes”, “aims”, “expects”, “intends”, “should”, “anticipates”, “estimates”, “thinks”, “wishes” and “might”, or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that Planisware considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments.

    This information includes statements relating to Planisware’s intentions, estimates and targets with respect to its markets, strategies, growth, results of operations, financial situation and liquidity. Planisware’s forward-looking statements speak only as of the date of this document. Absent any applicable legal or regulatory requirements, Planisware expressly disclaims any obligation to release any updates to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances, on which any forward-looking statement contained in this document is based. Planisware operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.

    Rounded figures

    Certain numerical figures and data presented in this document (including financial data presented in millions or thousands and certain percentages) have been subject to rounding adjustments and, as a result, the corresponding totals in this document may vary slightly from the actual arithmetic totals of such information.

    Variation in constant currencies

    Variation in constant currencies represent figures based on constant exchange rates using as a base those used in the prior year. As a result, such figures may vary slightly from actual results based on current exchange rates.

    Non-IFRS measures

    This document includes certain unaudited measures and ratios of the Group’s financial or non-financial performance (the “non-IFRS measures”), such as “recurring revenue”, “non-recurring revenue”, “gross margin”, “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted Free Cash Flow”, “cash conversion rate”, “churn rate” and “Net Retention Rate” (or “NRR”). Non-IFRS financial information may exclude certain items contained in the nearest IFRS financial measure or include certain non-IFRS components. Readers should not consider items which are not recognized measurements under IFRS as alternatives to the applicable measurements under IFRS. These measures have limitations as analytical tools and readers should not treat them as substitutes for IFRS measures. In particular, readers should not consider such measurements of the Group’s financial performance or liquidity as an alternative to profit for the period, operating income or other performance measures derived in accordance with IFRS or as an alternative to cash flow from (used in) operating activities as a measurement of the Group’s liquidity. Other companies with activities similar to or different from those of the Group could calculate non-IFRS measures differently from the calculations adopted by the Group.

    Non-IFRS measures included in this document are defined as follows:

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.

    Attachment

    The MIL Network –

  • MIL-OSI: Unifiedpost Group announces changes in Leadership team and Board composition

    Source: GlobeNewswire (MIL-OSI)

    INSIDE INFORMATION

    La Hulpe, Belgium – 23 October 2024, 7:00 am. CET – INSIDE INFORMATION – Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Company), a leading provider of integrated business communications solutions, announces the appointment of Nicolas de Beco as its CEO, effective December 1, 2024. Founder and current CEO Hans Leybaert will transition to Executive Chairman. Additionally, the Board has co-opted two new members: Crescemus BV, represented by Pieter Bourgeois, and PDMT Investments LLC, represented by Peter Mulroy. The Board further plans to nominate potential Board members at the next Ordinary General Shareholder Meeting. These changes align with our commitment to enhance governance and strengthen the position of Unifiedpost.

    Summary of appointments:

    • Nicolas de Beco has been appointed as the new CEO of Unifiedpost, effective December 1, 2024. Nicolas succeeds Hans Leybaert, who will transition to Executive Chairman of the Board.
    • Crescemus BV, represented by Pieter Bourgeois, has been co-opted as a non-executive director, replacing AS Partner BV, represented by Stefan Yee, who stepped down on October 1, 2024. Crescemus will represent Alychlo NV in the Board. The mandate will take effect as from October 23, 2024.
    • PDMT Investments LLC, represented by Peter Mulroy, has been co-opted as independent director, replacing Sopharth BV, represented by Philippe De Backer, who stepped down on October 1, 2024. The mandate will take effect as from October 23, 2024.
    • The Board plans to nominate four potential Board members at the next Ordinary Shareholder Meeting in May 2025.

    Appointment of Nicolas de Beco as CEO; Hans Leybaert becomes executive chairman.

    Unifiedpost is pleased to announce Nicolas de Beco as its new CEO, effective December 1, 2024. Nicolas will succeed Hans Leybaert, who will transition into the role of Executive Chairman. Nicolas brings extensive experience in scaling SaaS businesses and driving operational excellence, both of which are essential to Unifiedpost’s current strategic priorities, as the company continues to execute on its organic growth plans and capitalise on opportunities arising from regulatory reforms across Europe. Hans Leybaert will remain on board to guide the strategy implementation of the company.

    Hans Leybaert stated, “We welcome Nicolas as our new CEO, and I am excited to transition into the role of Executive Chairman. Nicolas brings a wealth of experience to Unifiedpost, having served as Senior Vice President of Strategy at Quadient and President of the French Foreign Trade Advisors in New England. His proven ability to understand and address customer needs aligns with our commitment to customer-centric innovation. I am confident that this transition will keep Unifiedpost on track to becoming the leading digital platform for administrative, financial, payment, and communication processes. Nicolas will bring fresh ideas that will accelerate our growth.”

    Nicolas de Beco stated: “I’m excited to join Unifiedpost, Europe’s leading SaaS provider for Financial Automation. With the support of 1.000+ dedicated employees and a strong base of 1,3 million customers, I look forward to leading the team towards sustained, profitable growth and shareholder returns.”

    Co-optation of new Board members

    Following the announcement on July 8, 2024, Stefan Yee, representing AS Partners BV, has decided to voluntarily step down as chairman and member of the Board after nearly 10 years of service since 2014, effective October 1, 2024. Additionally, Philippe De Backer, representing Sopharth BV, has also stepped down from the Board effective October 1, 2024, due to a new professional commitment that prevents his continued service on the Unifiedpost Board.

    Following this, the Board of Directors has decided to co-opt Pieter Bourgeois, representing Crescemus BV, and Peter Mulroy, representing PDMT Investments LLC, as directors effective October 23, 2024. Pieter Bourgeois, who will replace Stefan Yee, is the CEO of Alychlo NV and will represent Alychlo on the Board. Peter Mulroy, replacing Philippe De Backer, will serve as an independent director and brings over 40 years of experience in global trade, receivables, and supply chain finance. The Board will seek ratification of these appointments from the Ordinary General Shareholder Meeting in May 2025. These changes reflect Unifiedpost’s commitment to maintaining a diverse and experienced Board, ensuring strong corporate governance. The newly appointed members’ extensive international experience aligns with Unifiedpost’s ambitions to accelerate the growth of digital services and enhance value for our shareholders and customers.

    Commenting on the announcement, Hans Leybaert stated, “First and foremost, I want to express my sincere gratitude to Stefan Yee and Philippe De Backer for their significant contributions to Unifiedpost during their tenure on our Board. Their insights and dedication have been invaluable to our growth. As we welcome Pieter Bourgeois and Peter Mulroy as new members, I am confident that their expertise will further enhance our governance. Pieter, representing Alychlo, underscores our commitment to a strong Board, while Peter’s extensive background in global trade and finance will be instrumental as we continue to advance our strategic objectives. We look forward to the fresh perspectives our new Board members will bring while building upon the strong foundation laid by their predecessors”.

    Pieter Bourgeois, CEO of Alychlo, added, “As long-term investors, we have always believed in the company’s potential and the value it can unlock for all shareholders. We appreciate the collaborative approach taken by Unifiedpost’s leadership to implement these governance changes, which we believe are a testament to Unifiedpost’s commitment to adopt best practices and strengthen oversight. I am honoured to join the board and look forward to working collaboratively with my fellow directors and management to drive sustainable growth, operational excellence, and long-term value creation for all stakeholders.”

    Planned nominations by the Board.

    To further expand the experience of the Board and give it a more international character, the Board shall propose to nominate four additional directors at the next Ordinary General Shareholder Meeting, scheduled for May 20, 2025:

    • Nathalie Van den Haute, representing Quilaudem BV, shall be proposed to be nominated as a non-executive director. Nathalie is an Investment Principal at Alychlo NV and will represent Alychlo on the Board. She has extensive experience in corporate finance and equity capital markets, having held various leadership positions at KBC Securities.
    • Koen Hoffman, representing Ahok BV, shall be proposed to be nominated as an independent director. Koen is the CEO of Value Square and serves on the boards of Greenyard, Fagron, and MDxHealth in independent capacities.
    • Leanne Kemp shall be proposed to be nominated as an independent director. Leanne is the founder and CEO of Everledger. A prominent figure in the technology sector, she co-chairs the World Economic Forum’s Global Future Council on the Future of Manufacturing and participates in the Global Future Council on Blockchain. Additionally, Leanne leads workstreams at the Global Blockchain Business Council, co-chairs the Sustainable Trade Action Group for the World Trade Board and serves on the IBM Blockchain Platform Board of Advisors.  
    • Nicolas de Beco, representing Beco Global Consulting LLC, shall be proposed to be nominated as executive director.

    The Board shall propose to nominate them for a four-year term, effective from the next Ordinary General Shareholder Meeting. Additionally, the Board shall propose that the shareholders align the terms of the mandates for Crescemus BV and PDMT Investments LLC with this four-year term.

    With these changes to its governance structure, Unifiedpost highlights the international experience of its Board. This reinforces the company’s ambition to become a leading Pan-European player in its market segment.

    Please visit Unifiedpost’s website for more information about the Board of Directors.

    Contact:
    Alex Nicoll
    Investor Relations
    Unifiedpost Group
    alex.nicoll@unifiedpost.com

    About Unifiedpost Group

    Unifiedpost is a leading cloud-based platform for SME business services built on “Documents,” “Identity” and “Payments”. Unifiedpost operates and develops a 100% cloud-based platform for administrative and financial services that allows real-time and seamless connections between Unifiedpost’s customers, their suppliers, their customers, and other parties along the financial value chain. With its one-stop-shop solutions, Unifiedpost’s mission is to make administrative and financial processes simple and smart for its customers. For more information about Unifiedpost Group and its offerings, please visit our website: Unifiedpost Group | Global leaders in digital solutions

    Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Unifiedpost Group and the markets in which it is active. Such forward-looking statements are based on management’s current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Unifiedpost Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.

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    The MIL Network –

  • MIL-OSI: WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Interim report 1 January – 30 September 2024, 23 October 2024 at 8.00 EEST

    WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Highlights of July – September 2024 (“third quarter”)

    • Annual Recurring Revenue (ARR)1 for Elements Cloud products and services2 increased by 11% to EUR 81.8 million (EUR 73.8 million)
    • Elements Cloud ARR decrease from previous quarter was 1%
    • Net Revenue Retention for Elements Cloud was 104%
    • Revenue for Elements Cloud increased by 9% to EUR 20.7 million (EUR 19.0 million)
    • ARR for Cloud Protection for Salesforce increased by 38% to EUR 10.2 million (EUR 7.4 million)
    • CPSF Revenue increased by 20% to EUR 2.4 million (EUR 2.0 million)
    • Cyber security consulting revenue declined by 1% to EUR 7.5 million (EUR 7.7 million)
    • Adjusted EBITDA for WithSecure was EUR 1.9 million (EUR -2.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.4 million (EUR -0.2 million).
    • Consulting-related goodwill was impaired by EUR 15.5 million in the third quarter
    1. Annual recurring revenue (ARR) of cloud products is calculated by multiplying monthly recurring revenue of last month of quarter by twelve.  Monthly recurring revenue includes recognized revenue within the month excluding non-recurring revenue
    2. Elements Cloud includes Elements Cloud portfolio software and services as well as the managed services

    Highlights of January – September 2024

    • Revenue for Elements Cloud products and services increased by 10% to EUR 61.8 million (EUR 56.4 million)
    • CPSF revenue increased by 5% to EUR 6.6 million (EUR 6.3 million)
    • Cyber security consulting revenue increased by 2% to EUR 23.6 million (EUR 23.2 million)
    • Adjusted EBITDA for WithSecure was EUR 0.7 million (EUR -16.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.9 million (EUR -3.4 million).

    Outlook for 2024

    Outlook for 2024 (updated on 11 October 2024)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 6–14 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 8–12 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 2– 5 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

    Outlook for 2024 (previous)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 10–20 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 10–16 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 6–12 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

    Figures in this report are unaudited. Figures in brackets refer to the corresponding period in the previous year, unless otherwise stated. Percentages and figures presented may include rounding differences and might therefore not add up precisely to the totals presented.

    CEO Antti Koskela

    In the third quarter of 2024, WithSecure ARR for Elements Cloud products and services grew by 11 % to EUR 81.8 million (EUR 73.8 million). Elements Cloud revenue grew by 9 % to EUR 20.7 million (EUR 19.0 million). Despite the slightly disappointing revenue growth, profitability of both Elements Company segment and WithSecure Group was positive at the Adjusted EBITDA level. Cloud Protection for Salesforce business returned to the growth track, with ARR growth of 38 %.

    In the Elements Company, Elements software continued to perform with good year-on-year growth. In the DACH (Germany, Austria, Switzerland) region, the revenue growth slowed down slightly, mostly due to the weakness of the German economy. In other European regions and Japan, the revenue and ARR growth continued. In Managed services, some large customers churned during third quarter. This development was affected by our increasing focus on selling managed services to mid-market customers through the Elements platform. However, despite the increase in the number of customers, revenue did not fully compensate for the churned accounts. Of the geographic regions, mostly the UK and the US have been impacted by the Managed services development.

    Exposure Management, introduced in SPHERE’24 reached General Availability during the third quarter. The customer demand for the newest module of Elements has remained high. Also, our AI assistant Luminen became available for all Elements customers in the third quarter.

    Elements Company Adjusted EBITDA was EUR 2.0 million (EUR -0.5 million), as a result of the cost savings of 2023 and continuous efficiency measures.

    In Cloud Protection for Salesforce (CPSF), focused efforts on improving sales efficiency resulted in breaking through the 10 million ARR threshold. ARR grew by 38 % to EUR 10.2 million (EUR 7.4 million). Revenue grew by 20 % to EUR 2.4 million (EUR 2.0 million). We continue to develop CPSF as an independent business in WithSecure. Profitability of the CPSF is moving towards break-even with the improving revenue.

    Cyber security consulting revenue was slightly below previous year’s level and was EUR 7.5 million (EUR 7.7 million). In some key accounts, we saw financial constraints in the third quarter. In the long term, we continue to see solid demand for cyber security consulting service. As announced on 31 October 2023, the Cyber security consulting business is under strategic review. We are in active discussions regarding divestment of the business, but no decision has been taken so far.

    Due to the gaps between actual and expected revenue, we lowered the financial outlook for 2024. For the changes in consulting revenue estimates and increased equity market risk, we recorded an impairment of the consulting-related goodwill of EUR 15.5 million in the third quarter.

    At the end of September, WithSecure’s headquarters moved to the new premises in Wood City, Helsinki. This is part of our plan of creating dynamic and collaborative workplaces, to welcome our employees and visitors and to foster well-being and creativity.

    Financial performance

    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Revenue 36.1 34.8 4% 109.2 104.8 4% 142.8
    Gross Margin 26.2 24.2 9% 78.4 72.6 8% 100.2
    % of revenue 72.6 % 69.5 %   71.8 % 69.3 %   70.2 %
    Other operating income1 0.7 0.2 227% 1.6 1.0 53% 1.4
    Operating expenses1 -25.0 -26.6 6% -79.2 -90.0 12% -117.7
    Sales & Marketing -13.7 -15.2 10% -42.9 -52.4 18% -68.1
    Research & Development -8.4 -8.2 3% -26.5 -27.6 4% -36.3
    Administration -3.0 -3.3 10% -9.8 -10.0 2% -13.3
    Adjusted EBITDA2 1.9 -2.3 182% 0.7 -16.3 -104% -16.1
    % of revenue 5.2 % -6.5 %   0.7 % -15.6 %   -11.3 %
    Items affecting comparability (IAC)              
    Other items -0.6 -0.1 -468% -1.6 -0.4 -301% -1.4
    Restructuring -0.4 -0.1 -303% -0.4 -4.4 90% -8.9
    Divestments 0.6     1.2 1.4 -15% 1.4
    EBITDA 1.5 -2.5 -160% -0.1 -19.7 99% -25.1
    % of revenue 4.1 % -7.1 %   -0.1 % -18.8 %   -17.6 %
    Depreciation & amortization, excluding PPA3 -2.6 -2.5 -5% -7.4 -7.6 2% -10.2
    Impairment -15.5 -6.2 -150% -15.5 -6.2 -150% -6.2
    PPA amortization -0.5 -0.6 15% -1.7 -1.8 4% -2.4
    EBIT -17.2 -11.8 46% -24.8 -35.3 30% -43.9
    % of revenue -47.5 % -33.8 %   -22.7 % -33.7 %   -30.7 %
    Adjusted EBIT2 -0.8 -4.8 84% -6.7 -23.9 72% -26.3
    % of revenue -2.1 % -13.7 %   -6.1 % -22.8 %   -18.4 %
    1. Excluding Items Affecting Comparability (IAC) and depreciation and amortization. In 2023 excludes also costs of services provided to F-Secure under TSA and equivalent income charged for TSA services. 
    2. Adjustments are material items outside the normal course of business associated with acquisitions, integration, restructuring, gains or losses from sales of businesses and other items affecting comparability. For reconciliation and a breakdown of adjusted costs, see Note 6 (Reconciliation of alternative performance measures)
    3. Amortization of intangible assets from business combinations (PPA, purchase price allocation, related amortizations). 
    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Earnings per share, (EUR)1 -0.10 -0.06 -69% -0.13 -0.16 18% -0.23
    Deferred revenue       65.7 65.7 0% 66.9
    Cash flow from operations before financial items and taxes -0.6 -9.0 94% -5.7 -22.5 75% -19.9
    Cash and cash equivalents       21.6 30.0 -28% 36.6
    ROI, % -60.8 % -33.3 % -82% -27.1 % -30.9 % 12% -30.5 %
    Equity ratio, %       66.6 % 79.1 % -16% 73.3 %
    Gearing, %       4.0 % -18.3 % -122% -22.2 %
    Personnel, end of period       983 1,147 -14% 1,087
    1. Based on the weighted average number of outstanding shares during the period 175,976,169 (1-9/2024). Earnings per share has been recalculated for comparative periods using average weighted share amount after share issues.

    Events after period-end
    No material changes regarding the company’s business or financial position have taken place after the end of the quarter.

    Additional information
    This is a summary of WithSecure’s interim report 1 January – 30 September 2024. The full report is a PDF file attached to this stock exchange release. Full report is also available on the company website.

    Webcast
    WithSecure’s CEO Antti Koskela and CFO Tom Jansson will present the results in a webcast on 23 October starting at 14.00 EEST. The webcast will be held in English and can be accessed at

    https://withsecure.videosync.fi/q3-2024

    Questions in written format are requested in the webcast portal. Presentation material and the webcast recording will be available on the company website

    Materials | Investor Relations | WithSecure™

    Financial calendar
    WithSecure will publish its financial information dates of 2025 later in the fourth quarter of 2024. WithSecure observes at least a three-week (21 days) silent period prior to publication of financial reports, during which it refrains from engaging in discussions with capital market representatives or the media regarding WithSecure’s financial position or the factors affecting it.

    Contact information

    Tom Jansson, CFO
    WithSecure Corporation

    Laura Viita, VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    Attachment

    The MIL Network –

  • MIL-OSI: Sampo plc’s share buybacks 22 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 23 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 22 October 2024

    On 22 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      5,548 41.04 AQEU        
      42,058 41.04 CEUX
      1,009 41.02 TQEX
      43,104 41.05 XHEL
    TOTAL 91,719 41.05  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 9,134,466 Sampo A shares representing 1.66 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    The principal media
    FIN-FSA
    DEN-FSA
    http://www.sampo.com

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: 2024-25 judicial service pay adjustment

    Source: Hong Kong Government special administrative region

    2024-25 judicial service pay adjustment
    2024-25 judicial service pay adjustment
    ***************************************

         On the recommendation of the Standing Committee on Judicial Salaries and Conditions of Service (Judicial Committee) chaired by Dr Clement Chen, the Chief Executive in Council has decided that the pay for Judges and Judicial Officers (JJOs) for 2024-25 should be increased by 3 per cent. The pay adjustment will take retrospective effect from April 1, 2024.     ​     A Government spokesman today (October 23) said, “In coming up with its recommendation on judicial pay for 2024-25, the Judicial Committee premised its deliberations on the need to uphold the principle of judicial independence; and adopted a balanced approach taking into account a basket of factors as approved by the Chief Executive in Council in May 2008 and the position of the Judiciary. The basket of factors includes:(a) responsibility, working conditions and workload of judges vis-à-vis those of lawyers in private practice;(b) recruitment and retention in the Judiciary;(c) retirement age and retirement benefits of JJOs;(d) benefits and allowances enjoyed by JJOs;(e) unique features of the judicial service such as security of tenure, the prestigious status and high esteem of the judicial offices;(f) prohibition against return to private practice in Hong Kong;(g) overseas remuneration arrangements;(h) cost of living adjustments;(i) general economic situation in Hong Kong;(j) budgetary situation of the Government;(k) private sector pay levels and trends; and(l) public sector pay as a reference.”     A copy of the Report on Judicial Remuneration Review 2024 submitted by the Judicial Committee to the Chief Executive on August 21, 2024, is available on the website of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service (www.jsscs.gov.hk/en/publications/reports_jscs.htm).     ​     The Government will seek the approval of the Finance Committee of the Legislative Council on the proposed pay adjustment.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Capgemini announces leadership appointments

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Sam Connatty
    Tel.: +44 (0)370 904 3601
    Email: sam.connatty@capgemini.com

    Capgemini announces leadership appointments

    • Anirban Bose becomes CEO of the Americas Strategic Business Unit
    • Kartik Ramakrishnan becomes CEO of the Financial Services Strategic Business Unit
    • Jerome Simeon will take on the role of Chief Revenue Officer
    • Franck Greverie will become Chief Technology Officer

    Paris, October 23, 2024 – Capgemini today announced some key leadership appointments. Anirban Bose succeeds Jim Bailey as CEO of the Americas Strategic Business Unit, effective November 1. Consecutively, Kartik Ramakrishnan is appointed CEO of the Financial Services Strategic Business Unit. Jerome Simeon will become Chief Revenue Officer and Franck Greverie Chief Technology Officer, both from January 1, 2025. Following an outstanding 34-year long career at Capgemini, Olivier Sevillia, Chief Operating Officer, has decided to pursue new endeavors as an individual, and will leave the Group at the end of 2024. With his deep global experience and passion for digital transformation, Olivier will focus on promoting the techno-business ecosystem of European companies to help improve their competitiveness. The whole Capgemini team is looking forward to supporting Olivier in his next chapter.

    “These appointments strengthen the Group’s growth ambition and reinforce Capgemini’s role as the go to business and technology partner for our clients. Anirban Bose has been at the helm of our Financial Services division for the last six years and instrumental in building and shaping this business across the globe. Anirban is well positioned to accelerate our trajectory in the Americas, building on our progress in the region over the past 4 years under the leadership of Jim Bailey. I would like to thank Jim for his many contributions to Capgemini. Kartik Ramakrishnan, who has been running the Banking sector for the past six years, is Anirban’s natural successor, to ensure the global business will continue to go from strength to strength,” comments Aiman Ezzat, CEO of the Capgemini Group. “To bolster our laser focus on growth, Jerome Simeon will take on a new position of Chief Revenue Officer for the Group in the new year. His role will encompass our activities across sales, key clients and industries to bring even greater value to our clients as we accompany them on their business-critical transformations. Franck Greverie will add Chief Technology Officer to his scope of responsibility, also from January 1. His deep tech expertise and forward-thinking approach will accelerate our efforts to build innovative value creating solutions for our clients. I wish Anirban, Kartik, Jerome and Franck every success in their new roles.”

    Aiman Ezzat continues, “After an outstanding 34-year long career at Capgemini and an impressive track record in leading and operating strategic businesses across the Group, Olivier Sevillia will step down as Group COO at the end of 2024. We are all looking forward to supporting Olivier in his new endeavors as an individual, focused on applying his extensive experience in digital transformation to promote a rich techno-business ecosystem to help improve the competitiveness of European businesses. The board of directors joins me in thanking him and paying tribute to his commitment and service.”

    Biography: Anirban Bose

    Anirban was Head of Capgemini’s Financial Services Strategic Business Unit and a member of the Group Executive Board from 2018. He was also responsible for overseeing the Asia Pacific Strategic Business Unit.

    Prior to this, Anirban was the Head of Capgemini’s Banking and Capital Markets Business Unit.

    Between 2007 and 2015 Anirban led Capgemini’s Banking Business Unit. From 2004 to 2007, Anirban served as executive vice president at Kanbay before its 2007 acquisition by Capgemini.

    Anirban resides in New York. He graduated from the Indian Institute of Technology of Varasani with a Bachelor of Technology. He holds an MBA in Finance from the University of Chicago.

    Biography: Kartik Ramakrishnan

    Kartik was the Deputy CEO of Capgemini’s Financial Services Strategic Business Unit and also led Capgemini’s Banking and Capitals Markets business. Kartik has been a member of the Group Executive Committee since 2023.

    Prior to this, Kartik was responsible for managing sales teams across banking and capital markets.

    Kartik has spent over 25 years consulting in the banking and payments industry. Over his career, he has been involved in launching new products and developing innovative, cost-effective solutions for financial services firms across the globe in countries such as Australia, Canada, Germany, India, Singapore, United Kingdom and United States of America.

    Kartik has a bachelor’s degree from the Indian Institute of Technology and a master’s degree from the Booth School of Business at University of Chicago.

    Biography: Jerome Simeon

    Jerome became the Head of Global Industries in 2023. He has been a Member of the Group Executive Board since 2021.

    Prior to this, he was the CEO of the Southern Europe Strategic Business Unit. From 2018 to 2020, Jerome was Managing Director of Capgemini in France, when he also joined the Group Executive Committee.

    From 2014, he was CEO, Application Services France after serving as Commercial Director (from 2012 to 2014).

    Prior to this, from 2007 to 2010, he held commercial positions in Capgemini’s Telecom & Media business after managing the development and sales for the Property & Services Europe sector of BT Global Services for two years.

    Jerome joined Capgemini in 1998, after eight years with the group Générale des Eaux/Vivendi. Jerome graduated from Toulouse Business School.

    Biography: Franck Greverie

    Franck Greverie has been the Chief Portfolio Officer at Capgemini since 2018.

    Franck has been on the Group Executive Board since 2020, when he took on additional responsibilities overseeing Cloud Infrastructure Services (cloud & cybersecurity), Business Services and Insights & Data (Data & AI) Global Business Lines.

    Prior to this, from 2016, Franck led the Cloud & Cybersecurity activities of Capgemini. He joined Capgemini in 2015 as Head of the Cybersecurity Global Service Line.

    Between 2012 and 2015, Franck was an Executive VP at Bull, where he was in charge of the Security Division, and also led the Middle East, Africa and Asia activities.

    Prior to that, Franck was the Managing Director of the Information Systems Security and Cybersecurity activities for Thales Group (France, UK, Germany, Norway, USA, Asia) since 2018. His career with Thales began in 2004, as Head of Strategy, Business Development and Marketing for the Security activity.

    Franck is a graduate of ESME, engineering school, and of the Executive MBA of ESSEC Business School.

    Note to Editors
    High-resolution photography of Anirban Bose, Kartik Ramakrishnan, Jerome Simeon and Franck Greverie is available on request.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organisations to accelerate their dual transition to a digital and sustainable world while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market-leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get the future you want | http://www.capgemini.com

    Attachment

    The MIL Network –

  • MIL-OSI China: China’s finance ministry to issue 5B yuan of treasury bonds in Macao

    Source: China State Council Information Office

    China’s Ministry of Finance said on Wednesday it will issue 5 billion yuan (about 702 million U.S. dollars) of yuan-denominated treasury bonds in the Macao Special Administrative Region on Oct. 30.

    This year marks the 25th anniversary of Macao’s return to the motherland. The issuance demonstrates the central government’s support for the region to develop modern finance and promote appropriate economic diversification, the ministry said.

    This will be the central government’s third consecutive year of issuing yuan-denominated bonds in Macao, which is beneficial for further improving the regular issuance mechanism, consolidating the foundation of Macao’s bond market, and providing investors with stable and secure investment options.

    It also has a positive effect on continuously optimizing the infrastructure of the Macao bond market, further expanding the range of investors, and accelerating its integration with international markets, according to the ministry.

    MIL OSI China News –

  • MIL-OSI China: China’s finance ministry to issue 5 bln yuan of treasury bonds in Macao

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

    BEIJING, Oct. 23 — China’s Ministry of Finance said on Wednesday it will issue 5 billion yuan (about 702 million U.S. dollars) of yuan-denominated treasury bonds in the Macao Special Administrative Region on Oct. 30.

    This year marks the 25th anniversary of Macao’s return to the motherland. The issuance demonstrates the central government’s support for the region to develop modern finance and promote appropriate economic diversification, the ministry said.

    This will be the central government’s third consecutive year of issuing yuan-denominated bonds in Macao, which is beneficial for further improving the regular issuance mechanism, consolidating the foundation of Macao’s bond market, and providing investors with stable and secure investment options.

    It also has a positive effect on continuously optimizing the infrastructure of the Macao bond market, further expanding the range of investors, and accelerating its integration with international markets, according to the ministry.

    MIL OSI China News –

  • MIL-OSI: WithSecure to host an Investor Day on 22 November 2024

    Source: GlobeNewswire (MIL-OSI)

     WithSecure Corporation, Press Release 22 October 2024 at 11.00 EEST

    WithSecure to host an Investor Day on 22 November 2024

    WithSecure invites investors and analysts to an Investor Day on 22 November 2024 at 9:00 EET. During the day WithSecure’s management will present the company’s future strategic priorities and financial targets. In addition, WithSecure will present how the company will move forward in each business area considering the new strategic priorities and financial targets.

    Preliminary agenda for the Investor Day (Finnish time, EET):

    • 8:30-9:00 Registration and breakfast
    • 9:00-12:30 Presentations (with a coffee break)
    • 12:30-13.30 Lunch and 1-on-1 discussions

    Venue: WithSecure’s headquarters in Wood City, Välimerenkatu 1, 00180 Helsinki, Finland.

    On-site participants are requested to register by Friday 15 November 2024 by sending an email to: investor-relations@withsecure.com.

    In addition to the physical event, there will a live webcast of the presentations, starting at 9:00 EET. There will also be an opportunity to ask questions online via the chat function on the webcast platform. The webcast link will be available closer to the event on the company website.

    A recording of the event and the presentation materials will be available after the event on: Materials | Investor Relations | WithSecure™

    We warmly welcome you to WithSecure’s Investor Day 2024!

    For more information, please contact

    Laura Viita,
    Vice President, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    The MIL Network –

  • MIL-OSI Europe: Switzerland at 2024 IMF and World Bank Annual Meetings and G20 Finance Ministers Meeting in Washington

    Source: Switzerland – Department of Finance

    Federal Councillors Karin Keller-Sutter and Guy Parmelin, accompanied by Martin Schlegel, Chairman of the Governing Board of the Swiss National Bank, will attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington from 23 to 25 October 2024. A meeting of G20 finance ministers and central bank governors will also take place during the Annual Meetings. The Swiss delegation will additionally use the event for bilateral talks.

    MIL OSI Europe News –

  • MIL-OSI Submissions: WHO – Ten additional countries in the Western Pacific Regionpledge to invest in WHO

    Source: World Health Organization (WHO)

    MANILA, 23 October 2024 – In a historic show of support, 10 more countries in the Western Pacific Region pledged to provide an additional US$ 12.1 million to the World Health Organization (WHO) through its first-ever Investment Round. This comes in addition to US$ 18 million announced by Singapore in May. The WHO Investment Round aims to secure predictable, flexible, and resilient resources for WHO’s core work over the next four years.

    The seventy-fifth session of the WHO Regional Committee for the Western Pacific began on Monday with Member States formally endorsing the new regional vision Weaving Health for Families, Communities and Societies in the Western Pacific Region (2025-2029): Working together to improve health, well-being and save lives.

    The financial commitments were made during a Special Event on the Investment Round at the Regional Committee today. Governments and partners from across Asia and the Pacific in attendance emphasized the importance of ensuring WHO has robust financing to implement its global strategy for the 2025-2028 period, the 14th General Programme of Work, which was approved by Member States at the World Health Assembly in May 2024.

    The Government of the Philippines co-hosted the Special Event and made a historic pledge of US$ 10 million to the WHO Investment Round. During his remarks, Secretary of Health Dr Teodoro J. Herbosa of the Philippines said “A robust, reliable, and sustainably funded WHO is crucial for the Western Pacific Region and the world to address inequities and inequalities in health which were amplified by the COVID-19 pandemic. Today, we have taken a significant first step towards a future where health and well-being are accessible to everyone.”

    Malaysia also demonstrated its support of WHO’s work through a US$ 2 million pledge towards the Investment Round.

    In a powerful symbol of Pacific leaders’ commitment to health and WHO’s pivotal role in supporting them, eight Pacific Island countries pledged to double their funding contributions to WHO for 2025.  First-ever voluntary contributions to WHO were announced today by Papua New Guinea, and Cook Islands, Palau, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.

    Speaking to the Regional Committee through a live video connection on Tuesday morning, WHO Director-General Dr Tedros Adhanom Ghebreyesus noted that to support the implementation of the Organization’s new global strategy, “we have launched the first WHO Investment Round, which aims to mobilize the sustainable and predictable resources we need to do our work. Thank you all for your commitment to promoting, providing and protecting health, for all people of the Western Pacific.”

    During the Investment Round Special Event, WHO Regional Director for the Western Pacific, Dr Saia Ma’u Piukala, thanked Member States and partners for their pledges, which will enable the Organization to support countries more effectively.

    “The commitments made today are truly historic,” Dr Piukala said. “They include a doubling of financial contributions from several of our small island developing states, and significant sums from the Philippines and Malaysia.

    “It’s a sign of governments’ confidence in WHO as their partner in health, and a recognition of the need for sustainable financing in order to deliver on the vision of weaving health for families, communities and societies in the Western Pacific,” he said.

    Prior to the meeting, WHO launched the document All for Health, Health for All: WHO Investment Case 2025-28 Western Pacific to capture the impact of a fully-funded Western Pacific Region over the next four years.

    Partners joined Members States in statements of support for WHO. Organizations including the Asian Development Bank, the Institute of Philanthropy and Temasek Trust committed to working closely with WHO during the next four years. Earlier this month, the Institute of Philanthropy made a US$10 million pledge to the Investment Round during the World Health Summit in Berlin, following a $1.2 million pledge in May at the World Health Assembly. The Temasek Foundation also pledged $10 million on the sidelines of the United Nations General Assembly in September.

    “We are off to a great start for the Investment Round in the Western Pacific based on today’s event,” said Dr Piukala. “Today we also heard that we should expect to see more countries and partners stepping up to provide additional resources in the coming weeks.”

    With a fully and sustainably funded operating budget for 2025–2028, WHO will be better able to tackle emergencies and outbreaks that jeopardize health security and threaten lives, reduce the burden of both infectious diseases and noncommunicable diseases (NCDs), and continue working to improve the health and well-being of everyone, especially the most vulnerable.

    Launched at the World Health Assembly in May 2024, the Investment Round aims to mobilize contributions that are flexible and thereby aligned with WHO’s strategy as approved by its Member States, predictably provided at the start of the four-year programme cycle to enable strategic decision-making, and resilient in that they will derive from a larger, more diverse set of donors.

    WHO’s Investment Round will culminate at the G20 leaders’ summit chaired by Brazilian President Lula da Silva next month.

    Notes:

    The seventy-fifth session of the Western Pacific Regional Committee began on 21 October and runs through 25 October at WHO’s Regional Office for the Western Pacific in Manila, Philippines. The agenda (https://cdn.who.int/media/docs/default-source/wpro—documents/regional-committee/session-75/wpr-rc75-01-provisional-agenda.pdf ) and timetable (https://cdn.who.int/media/docs/default-source/wpro—documents/regional-committee/session-75/tentative-timetable_rc75.pdf ) are available online. A livestream of proceedings, all other official documents, as well as fact sheets and videos on the issues to be addressed can be accessed here. https://www.who.int/westernpacific/about/governance/regional-committee/session-75

    Working with 194 Member States across six regions, WHO is the United Nations specialized agency responsible for public health. Each WHO region has a regional committee – a governing body composed of ministers of health and senior officials from Member States. Each regional committee meets annually to agree on health actions and to chart priorities for WHO’s work.

    The WHO Western Pacific Region is home to more than 1.9 billion people across 37 countries and areas: American Samoa (United States of America), Australia, Brunei Darussalam, Cambodia, China, Cook Islands, Fiji, French Polynesia (France), Guam (United States of America), Hong Kong SAR (China), Japan, Kiribati, the Lao People’s Democratic Republic, Macao SAR (China), Malaysia, the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Caledonia (France), New Zealand, Niue, the Commonwealth of the Northern Mariana Islands (United States of America), Palau, Papua New Guinea, the Philippines, Pitcairn Islands (United Kingdom of Great Britain and Northern Ireland), the Republic of Korea, Samoa, Singapore, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu and Viet Nam, Wallis and Futuna (France).

    MIL OSI – Submitted News –

  • MIL-OSI United Kingdom: Housing maintenance and improvement

    Source: Scotland – City of Dundee

    A SERIES of major policy documents aimed at protecting and enhancing public housing in Dundee are set to be discussed by councillors.
    Updated versions of Dundee City Council’s empty homes strategy, five-year strategic investment plan and the annual review of rents will be tabled next week.
    Mark Flynn, convener of the neighbourhood regeneration, housing and estate management committee said: “To be able to deliver strong communities where people feel empowered, safe, and proud to live and where the root causes of poverty are being tackled needs a good supply of warm, easy to heat homes.
    “But these things do not appear from nowhere, they need detailed, well thought out and realistic documents like these to put down in black and white what we need to do, how we are going to do it and how long it is going to take to get where we want to be.”
    Lynne Short, the committee’s deputy convener added: “The framework that these policies and others provides is crucial not only to delivering on our goals, but also in allowing people to see what progress is being made towards them over time.”
    The new 22-page empty homes strategy aims to build on the 132 empty homes already brought back into use by using the 1,067 unoccupied houses in the city to provide accommodation. This figure is put into context in the report which notes that there were 1,430 new homeless applications made to Dundee City Council in 2022/2023.
    Empty homes are classified as dwellings that have been empty for six months or more and are liable for council tax. The most recent figures published by the Scottish Government in September 2023, show that almost 75% of the long-term empty properties in Dundee are privately owned.
    It has been developed through a clear understanding of the impact of empty homes across Dundee on neighbourhoods, communities, homeowners and residents.
    The Strategic Housing Investment Plan (SHIP) 2025-2030 sets out Dundee’s affordable housing priorities for the next five years and aims to ensure that the city continues to successfully deliver new-build affordable housing for rent.
    It reveals that 286 new build social homes are expected to be completed before spring 2027, with more than 500 more “in the pipeline” with start dates between 2025 and 2028.
    According to the SHIP. the council will work with partners to ensure that all new build properties constructed within the investment programme meet or surpass the current building regulations.
    In addition, where possible energy efficiency measures such as insulation, solar energy, wind power or other suitable measures will be integrated into the construction to help reduce carbon emissions, address fuel poverty and ensure that tenants live in warm, affordable homes.
    It also includes additional accessible housing for adults with learning, physical or mental health disabilities, to allow them to receive the appropriate care and support that they need within their local community.
    Members of the neighbourhood regeneration, housing and estate management committee will be asked to approve discussions with tenants on annual increases ranging from an average of £3.92 to £4.36 per week.
    Council house tenants could be consulted on three proposed rent increases between 4.5% and 5% if councillors back the move.
    During the two-month consultation as many tenants as possible will be encouraged to share their views on the three options before a report is prepared and considered in January.
    Cllr Flynn added: “Every year we try to offer tenants a balanced choice between services remaining at the same high standard they have now or giving the council additional resources to spend more on the things tenants have told us that they want, such as tackling anti-social behaviour.”
    As well as using as many ways as possible of gauging tents’ opinions including face to face engagement, social media and continued collaboration with Dundee Federation of Tenants Association and registered tenants’ organisations; information will also be made available about the support services available for people affected by the cost-of-living crisis.
    The neighbourhood resources, housing and estate management committee meets on Monday (October 28).

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Second extrapolation for 2024: Confederation reckoning on financing deficit of CHF 900 million

    Source: Switzerland – Department of Finance

    The Federal Council was informed about the current extrapolation on 23 October 2024. The Confederation is reckoning on a financing deficit of CHF 900 million for this year. The expected deficit is thus likely to be lower than forecast in the June extrapolation (-1.6 bn) and in the budget (-2.6 bn), as a result of lower expenditure and the deferral to next year of the extraordinary capital contribution to SBB.

    MIL OSI Europe News –

  • MIL-OSI Russia: GUU at the forum “Voice of the generation. Vice-rectors, teachers”

    Translation. Region: Russian Federation –

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

    A team of teachers from the State University of Management took part in the program “Voice of a Generation. Vice-Rectors Teachers”, held with the support of the Federal Agency for Youth Affairs and the Ministry of Science and Higher Education of the Russian Federation.

    Representatives of more than 50 universities of our country gathered at the Mashuk Knowledge Center in Pyatigorsk.

    This year, the main topic of the meeting was educational work, which was examined from different points of view: psychology, law, neurobiology.

    The delegation of the State University of Management included: Deputy Director of the Institute of Economics and Finance for educational work Valeria Ivanova, Deputy Director of the Institute of Social and Cultural Studies and the Bureau of Culture Svetlana Grishaeva, Deputy Director of the Institute of Information Systems for educational work Kirill Putilov, Deputy Head of the Department of Management in the Sphere of Culture, Cinema, Television and Entertainment Industry Anna Akopyan and Lecturer of the Department of Marketing Alina Gorchakova.

    The forum’s guests of honor were Deputy Minister of Science and Higher Education of the Russian Federation Olga Petrova and Advisor to the Head of the Federal Agency for Youth Affairs Madeleine Baturina.

    The forum program included not only the usual presentations by speakers, master classes and seminars, but also other formats of work: quiz, business games, round tables, reflection and an immersive game with immersion, where teachers together decided what the future world will be like in terms of values, specialties and what the student of the future will be like.

    During four days of intensive work, the team from each university had the opportunity not only to reconsider their views on the educational process at the university, but also to plan specific actions applicable in their work, as well as to exchange experiences with colleagues from other universities and even make their own proposals for changing the points of the educational work program at their university.

    At the end of the final evening, all participating teams had to formulate a phrase describing the main insight after completing the program.

    The quote from the GUU team is: “The happiness of discovering yourself through discovering others.”

    Subscribe to the TG channel “Our GUU” Date of publication: 23.10.2024

    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: Home BancShares, Inc. Announces Fourth Quarter Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    CONWAY, Ark., Oct. 23, 2024 (GLOBE NEWSWIRE) — Home BancShares, Inc. (NYSE: HOMB), parent company of Centennial Bank, today announced that its Board of Directors has declared a regular $0.195 per share quarterly cash dividend payable December 4, 2024, to shareholders of record November 13, 2024. This cash dividend represents a $0.015 per share, or 8.3%, increase over the $0.18 cash dividend paid during the fourth quarter of 2023 and is consistent with the dividend paid during the third quarter of 2024.

    Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Its wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has branch locations in Arkansas, Florida, Texas, South Alabama and New York City. The Company’s common stock is traded through the New York Stock Exchange under the symbol “HOMB.”

    FOR MORE INFORMATION CONTACT:
    Donna Townsell
    Senior Executive Vice President &
       Director of Investor Relations
    (501) 328-4625

    The MIL Network –

  • MIL-OSI: Spar Nord revises its financial guidance

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 64
     

    Spar Nord revises its expectations for profit after tax for 2024 to DKK 2,100-2,300 million.

    In Interim report H1 2024, Spar Nord reiterated its full-year 2024 guidance for profit after tax at the DKK 1,950-2,250 million range and guidance for full-year core earnings before impairment at the DKK 2.600-3,000 million range.

    In Q3 2024, core earnings before impairment has been in line with the Bank’s expectations while a persistently strong credit quality for the bank’s retail and business customers has led to a minor net reversal of impairments for the sixth consecutive quarter in a row.

    Against this background, Spar Nord now expects a profit impact from impairment charges of around DKK 0 million for 2024.

    As a result, the bank’s full-year guidance for profit after tax is revised to DKK 2,100-2,300 million.

    Furthermore, full-year guidance for core earnings before impairment is narrowed to the DKK 2,700-3,000 million range.

    Spar Nord’s financial report for Q3 2024 will be released as scheduled on 31 October 2024.

    Please direct any questions regarding this release to Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.

    Rune Brandt Børglum
    Head of Investor Relations

    Attachment

    The MIL Network –

  • MIL-OSI: Aktia’s interim report for January–September will be published on Wednesday 6 November 2024 at 8.00 a.m.

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Press release
    23 October 2024 at 1.00 p.m.

    Aktia’s interim report for January–September will be published on Wednesday 6 November 2024 at 8.00 a.m.

    Aktia’s interim report for January–September 2024 will be published on Wednesday 6 November 2024 at 8.00 a.m. (EET). The interim report is available at Aktia’s website http://www.aktia.com after the publication.

    Briefing for analysts, investors and media

    Aktia’s briefing for analysts, investors and media will be held in English at Flik Studio Eliel (Sanoma House, 1st floor, Töölönlahdenkatu 2, Helsinki) on Wednesday 6 November 2024 at 10.30 a.m. Aktia’s CEO Aleksi Lehtonen and interim CFO Karri Varis will be presenting the results. Attendees are kindly asked to register before 1 November 2024 by email at the address ir@aktia.fi.

    The briefing can be seen live as a webcast or as a recording after the briefing at https://aktia.videosync.fi/aktia-pankki-oyj-q3-report-2024. Questions can be asked in writing during the live webcast.

    The presentation material in English is available at Aktia’s website http://www.aktia.com before the briefing.

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    http://www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 30 June 2024 amounted to EUR 14.1 billion, and the balance sheet total was EUR 12.4 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network –

  • MIL-OSI: TransUnion Announces Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Exceeded third quarter 2024 financial guidance for revenue and earnings
    • Accelerated revenue growth to 12 percent, driven by U.S. Financial Services, Insurance, Consumer Interactive and International, while executing on technology modernization and transformation program savings
    • Voluntarily prepaid $25 million in debt, bringing total prepayments to $105 million in 2024
    • Raising 2024 financial guidance, we now expect to deliver 9 percent revenue growth for the year

    CHICAGO, Oct. 23, 2024 (GLOBE NEWSWIRE) — TransUnion (NYSE: TRU) (the “Company”) today announced financial results for the quarter ended September 30, 2024.

    Third Quarter 2024 Results

    Revenue:

    • Total revenue for the quarter was $1,085 million, an increase of 12 percent (12 percent on a constant currency basis), compared with the third quarter of 2023.

    Earnings:

    • Net income attributable to TransUnion was $68 million for the quarter, compared with a loss of $319 million for the third quarter of 2023. Diluted earnings per share was $0.35, compared with a loss per share of $1.65 in the third quarter of 2023. Net income attributable to TransUnion margin was 6.3 percent, compared with a loss of 32.9 percent in the third quarter of 2023. Our third quarter 2023 net income (loss) attributable to TransUnion, diluted loss per share and net income (loss) attributable to TransUnion margin were impacted by a $414 million non-cash goodwill impairment expense for our United Kingdom reporting unit in the period.
    • Adjusted Net Income was $205 million for the quarter, compared with $177 million for the third quarter of 2023. Adjusted Diluted Earnings per Share was $1.04, compared with $0.91 in the third quarter of 2023.
    • Adjusted EBITDA was $394 million for the quarter, compared with $356 million for the third quarter of 2023, an increase of 11 percent (11 percent on a constant currency basis). Adjusted EBITDA margin was 36.3 percent, compared with 36.8 percent in the third quarter of 2023.

    “In the third quarter, TransUnion exceeded financial guidance,” said Chris Cartwright, President and CEO. “U.S. Markets grew by double-digits against stable market conditions, driven by mortgage strength, improving non-mortgage financial services, accelerating insurance growth and large breach remediation wins. Our International segment delivered double-digit organic constant currency revenue growth across India, Latin America, Asia Pacific and Africa.”

    “We continue to progress well against our transformation program. We now expect to capture $85 million of operating expense savings in 2024, driven by strong execution against our operating model optimization to expand our Global Capability Center network. Additionally, our technology modernization is accelerating our pace of innovation with several new capabilities and products launched in the quarter, powered by OneTru.”

    “We are raising our 2024 guidance and now expect to deliver 9 percent revenue growth, reflecting third quarter outperformance, stronger mortgage volumes and broad-based strength across the portfolio.”

    Third Quarter 2024 Segment Results

    U.S. Markets:

    U.S. Markets revenue was $848 million, an increase of 12 percent compared with the third quarter of 2023.

    • Financial Services revenue was $367 million, an increase of 17 percent compared with the third quarter of 2023.
    • Emerging Verticals revenue was $307 million, an increase of 3 percent compared with the third quarter of 2023.
    • Consumer Interactive revenue was $174 million, an increase of 21 percent compared with the third quarter of 2023.

    Adjusted EBITDA was $320 million, an increase of 9 percent compared with the third quarter of 2023.

    International:

    International revenue was $242 million, an increase of 11 percent (12 percent on a constant currency basis) compared with the third quarter of 2023.

    • Canada revenue was $39 million, an increase of 7 percent (9 percent on a constant currency basis) compared with the third quarter of 2023.
    • Latin America revenue was $33 million, an increase of 7 percent (13 percent on a constant currency basis) compared with the third quarter of 2023.
    • United Kingdom revenue was $58 million, an increase of 6 percent (4 percent on a constant currency basis) compared with the third quarter of 2023.
    • Africa revenue was $17 million, an increase of 12 percent (10 percent on a constant currency basis) compared with the third quarter of 2023.
    • India revenue was $68 million, an increase of 21 percent (23 percent on a constant currency basis) compared with the third quarter of 2023.
    • Asia Pacific revenue was $26 million, an increase of 11 percent (11 percent on a constant currency basis) compared with the third quarter of 2023.

    Adjusted EBITDA was $110 million, an increase of 14 percent (15 percent on a constant currency basis) compared with the third quarter of 2023.

    Liquidity and Capital Resources

    Cash and cash equivalents was $643 million at September 30, 2024 and $476 million at December 31, 2023.

    For the nine months ended September 30, 2024, cash provided by operating activities was $579 million, compared with $444 million in 2023. The increase in cash provided by operating activities was primarily due to improved operating performance, partially offset by employee separation payments and a penalty paid for the early termination of a facility lease, both of which were in connection with our operating model optimization program. For the nine months ended September 30, 2024, cash used in investing activities was $195 million, compared with $231 million in 2023. The decrease in cash used in investing activities was due primarily to prior year investments in non-consolidated affiliates and lower capital expenditures. For the nine months ended September 30, 2024, capital expenditures were $199 million, compared with $213 million in 2023. Capital expenditures as a percent of revenue represented 6% and 7% for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, cash used in financing activities was $220 million, compared with $375 million in 2023. The decrease in cash used in financing activities was primarily due to a decrease in debt prepayments.

    Fourth Quarter and Full Year 2024 Outlook

    Our guidance is based on a number of assumptions that are subject to change, many of which are outside of the control of the Company, including general macroeconomic conditions, interest rates and inflation. There are numerous evolving factors that we may not be able to accurately predict. There can be no assurance that the Company will achieve the results expressed by this guidance.

        Three Months Ended December 31, 2024   Twelve Months Ended December 31, 2024
    (in millions, except per share data)   Low   High   Low   High
    Revenue, as reported   $ 1,014     $ 1,034     $ 4,161     $ 4,181  
    Revenue growth1:                
    As reported     6 %     8 %     9 %     9 %
    Constant currency1, 2     6 %     8 %     8 %     9 %
    Organic constant currency1, 3     6 %     8 %     8 %     9 %
                     
    Net income attributable to TransUnion   $ 65     $ 77     $ 284     $ 295  
    Net income attributable to TransUnion growth     n/m       n/m       238 %     243 %
    Net income attributable to TransUnion margin     6.4 %     7.4 %     6.8 %     7.1 %
                     
    Diluted Earnings per Share   $ 0.34     $ 0.39     $ 1.45     $ 1.51  
    Diluted Earnings per Share growth   n/m       n/m       237 %     243 %
                     
    Adjusted EBITDA, as reported5   $ 360     $ 375     $ 1,488     $ 1,503  
    Adjusted EBITDA growth, as reported4     10 %     15 %     11 %     12 %
    Adjusted EBITDA margin     35.5 %     36.2 %     35.8 %     36.0 %
                     
    Adjusted Diluted Earnings per Share5   $ 0.92     $ 0.98     $ 3.87     $ 3.93  
    Adjusted Diluted Earnings per Share growth     14 %     21 %     15 %     17 %
    1. Additional revenue growth assumptions:
      1. The impact of changing exchange rates is expected to have an insignificant impact for Q4 2024 and FY 2024.
      2. There is no impact from recent acquisitions for Q4 2024 and FY 2024.
      3. The impact of mortgage is expected to be approximately 5 points of benefit for Q4 2024 and approximately 4 points of benefit for FY 2024.
    2. Constant currency growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.
    3. Organic constant currency growth rates are constant currency growth excluding inorganic growth. Inorganic growth represents growth attributable to the first twelve months of activity for recent business acquisitions. There is no impact from recent business acquisitions in Q4 2024 and FY 2024.
    4. Additional Adjusted EBITDA assumptions:
      1. The impact of changing foreign currency exchange rates is expected to have an insignificant impact for Q4 2024 and FY 2024.
    5. For a reconciliation of the above non-GAAP financial measures to the most directly comparable GAAP financial measures, refer to Schedule 7 of this Earnings Release.

    Earnings Webcast Details

    In conjunction with this release, TransUnion will host a conference call and webcast today at 8:30 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. This session and the accompanying presentation materials may be accessed at http://www.transunion.com/tru. A replay of the call will also be available at this website following the conclusion of the call.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    http://www.transunion.com/business 

    Availability of Information on TransUnion’s Website

    Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in TransUnion to review the information that it shares on http://www.transunion.com/tru.

    Forward-Looking Statements

    This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.

    Factors that could cause actual results to differ materially from those described in the forward-looking statements, or that could materially affect our financial results or such forward-looking statements include:

    • macroeconomic effects and changes in market conditions, including the impact of inflation, risk of recession, and industry trends and adverse developments in the debt, consumer credit and financial services markets, including the impact on the carrying value of our assets in all of the markets where we operate;
    • our ability to provide competitive services and prices;
    • our ability to retain or renew existing agreements with large or long-term customers;
    • our ability to maintain the security and integrity of our data;
    • our ability to deliver services timely without interruption;
    • our ability to maintain our access to data sources;
    • government regulation and changes in the regulatory environment;
    • litigation or regulatory proceedings;
    • our ability to effectively manage our costs;
    • our efforts to execute our transformation plan and achieve the anticipated benefits and savings;
    • our ability to remediate existing material weakness in our internal control over financial reporting and maintain effective internal control over financial reporting and disclosure controls and procedures;
    • economic and political stability in the United States and international markets where we operate;
    • our ability to effectively develop and maintain strategic alliances and joint ventures;
    • our ability to timely develop new services and the market’s willingness to adopt our new services;
    • our ability to manage and expand our operations and keep up with rapidly changing technologies;
    • our ability to acquire businesses, successfully secure financing for our acquisitions, timely consummate our acquisitions, successfully integrate the operations of our acquisitions, control the costs of integrating our acquisitions and realize the intended benefits of such acquisitions;
    • our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property;
    • our ability to defend our intellectual property from infringement claims by third parties;
    • geopolitical conditions and other risks associated with our international operations;
    • the ability of our outside service providers and key vendors to fulfill their obligations to us;
    • further consolidation in our end-customer markets;
    • the increased availability of free or inexpensive consumer information;
    • losses against which we do not insure;
    • our ability to make timely payments of principal and interest on our indebtedness;
    • our ability to satisfy covenants in the agreements governing our indebtedness;
    • our ability to maintain our liquidity;
    • share repurchase plans; and
    • our reliance on key management personnel.

    There may be other factors, many of which are beyond our control, that may cause our actual results to differ materially from the forward-looking statements, including factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K filed with the Securities and Exchange Commission. You should evaluate all forward-looking statements made in this report in the context of these risks and uncertainties.

    The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release.

    For More Information

    TRANSUNION AND SUBSIDIARIES
    Consolidated Balance Sheets (Unaudited)
    (in millions, except per share data)

        September 30,
    2024    		   December 31,
    2023
    Assets        
    Current assets:        
    Cash and cash equivalents   $ 643.2     $ 476.2  
    Trade accounts receivable, net of allowance of $18.2 and $16.4     798.4       723.0  
    Other current assets     228.2       275.9  
    Total current assets     1,669.8       1,475.1  
    Property, plant and equipment, net of accumulated depreciation and amortization of $858.3 and $804.4     181.5       199.3  
    Goodwill     5,184.5       5,176.0  
    Other intangibles, net of accumulated amortization of $3,055.8 and $2,719.8     3,356.9       3,515.3  
    Other assets     661.1       739.4  
    Total assets   $ 11,053.8     $ 11,105.1  
    Liabilities and stockholders’ equity        
    Current liabilities:        
    Trade accounts payable   $ 319.4     $ 251.3  
    Short-term debt and current portion of long-term debt     66.5       89.6  
    Other current liabilities     609.8       661.8  
    Total current liabilities     995.7       1,002.7  
    Long-term debt     5,134.9       5,250.8  
    Deferred taxes     481.8       592.9  
    Other liabilities     120.2       153.2  
    Total liabilities     6,732.6       6,999.6  
    Stockholders’ equity:        
    Common stock, $0.01 par value; 1.0 billion shares authorized at September 30, 2024 and December 31, 2023, 201.4 million and 200.0 million shares issued at September 30, 2024 and December 31, 2023, respectively, and 194.9 million and 193.8 million shares outstanding as of September 30, 2024 and December 31, 2023, respectively     2.0       2.0  
    Additional paid-in capital     2,524.3       2,412.9  
    Treasury stock at cost, 6.6 million and 6.2 million shares at September 30, 2024 and December 31, 2023, respectively     (333.0 )     (302.9 )
    Retained earnings     2,312.6       2,157.1  
    Accumulated other comprehensive loss     (289.5 )     (260.9 )
    Total TransUnion stockholders’ equity     4,216.4       4,008.2  
    Noncontrolling interests     104.8       97.3  
    Total stockholders’ equity     4,321.2       4,105.5  
    Total liabilities and stockholders’ equity   $ 11,053.8     $ 11,105.1  
     

    TRANSUNION AND SUBSIDIARIES
    Consolidated Statements of Operations (Unaudited)
    (in millions, except per share data)

        Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
         2024     2023     2024     2023 
    Revenue   $ 1,085.0     $ 968.7     $ 3,147.0     $ 2,876.9  
    Operating expenses                
    Cost of services (exclusive of depreciation and amortization below)     448.7       368.8       1,261.7       1,136.8  
    Selling, general and administrative     305.7       290.8       922.1       867.7  
    Depreciation and amortization     133.6       131.3       400.5       391.1  
    Goodwill impairment     —       414.0       —       414.0  
    Restructuring     40.5       —       66.8       —  
    Total operating expenses     928.6       1,205.0       2,651.0       2,809.6  
    Operating income (loss)     156.4       (236.3 )     495.9       67.3  
    Non-operating income and (expense)                
    Interest expense     (66.6 )     (72.7 )     (203.2 )     (217.2 )
    Interest income     7.8       5.0       19.9       15.1  
    Earnings from equity method investments     4.7       3.7       14.0       11.7  
    Other (expense) and income, net     (5.4 )     8.7       (26.2 )     (16.3 )
    Total non-operating income and (expense)     (59.6 )     (55.4 )     (195.4 )     (206.8 )
    Income (loss) from continuing operations before income taxes     96.8       (291.7 )     300.5       (139.5 )
    Provision for income taxes     (24.9 )     (22.2 )     (68.9 )     (60.1 )
    Income (loss) from continuing operations     71.9       (313.9 )     231.6       (199.6 )
    Discontinued operations, net of tax     —       (0.5 )     —       (0.7 )
    Net income (loss)     71.9       (314.4 )     231.6       (200.3 )
    Less: net income attributable to the noncontrolling interests     (3.9 )     (4.3 )     (13.4 )     (11.9 )
    Net income (loss) attributable to TransUnion   $ 68.0     $ (318.8 )   $ 218.2     $ (212.2 )
                     
    Basic earnings (loss) per common share from:                
    Income (loss) from continuing operations attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.12     $ (1.09 )
    Discontinued operations, net of tax     —       —       —       —  
    Net income (loss) attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.12     $ (1.10 )
    Diluted earnings (loss) per common share from:                
    Income (loss) from continuing operations attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.09 )
    Discontinued operations, net of tax     —       —       —       —  
    Net income (loss) attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.10 )
    Weighted-average shares outstanding:                
    Basic     194.6       193.4       194.3       193.3  
    Diluted     197.0       193.4       196.3       193.3  
                                     

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

    TRANSUNION AND SUBSIDIARIES
    Consolidated Statements of Cash Flows (Unaudited)
    (in millions)

        Nine Months Ended September 30,
         2024    2023
    Cash flows from operating activities:        
    Net income (loss)   $ 231.6     $ (200.3 )
    Less: Discontinued operations, net of tax     —       0.7  
    Income (loss) from continuing operations     231.6       (199.6 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
    Depreciation and amortization     400.5       391.1  
    Goodwill impairment     —       414.0  
    Loss on repayment of loans     2.6       3.0  
    Deferred taxes     (94.1 )     (101.3 )
    Stock-based compensation     85.6       72.9  
    Loss on early termination of lease     40.5       —  
    Other     17.9       13.1  
    Changes in assets and liabilities:        
    Trade accounts receivable     (88.9 )     (104.2 )
    Other current and long-term assets     31.4       (42.4 )
    Trade accounts payable     44.2       16.9  
    Other current and long-term liabilities     (92.8 )     (19.7 )
    Cash provided by operating activities of continuing operations     578.5       443.8  
    Cash used in operating activities of discontinued operations     —       (0.2 )
    Cash provided by operating activities     578.5       443.6  
    Cash flows from investing activities:        
    Capital expenditures     (198.7 )     (213.2 )
    Proceeds from sale/maturities of other investments     —       63.9  
    Purchases of other investments     —       (43.7 )
    Investments in nonconsolidated affiliates     (5.9 )     (36.9 )
    Proceeds from the sale of investments in nonconsolidated affiliates     3.8       —  
    Payment related to disposal of discontinued operations     —       (0.5 )
    Other     5.7       (0.1 )
    Cash used in investing activities     (195.1 )     (230.5 )
    Cash flows from financing activities:        
    Proceeds from term loans     934.9       —  
    Repayments of term loans     (927.9 )     —  
    Repayments of debt     (141.0 )     (310.9 )
    Debt financing fees     (13.5 )     —  
    Proceeds from issuance of common stock and exercise of stock options     24.5       23.1  
    Dividends to shareholders     (61.7 )     (61.4 )
    Employee taxes paid on restricted stock units recorded as treasury stock     (30.1 )     (17.6 )
    Distributions to noncontrolling interests     (4.7 )     (8.5 )
    Cash used in financing activities     (219.5 )     (375.3 )
    Effect of exchange rate changes on cash and cash equivalents     3.1       (2.2 )
    Net change in cash and cash equivalents     167.0       (164.4 )
    Cash and cash equivalents, beginning of period     476.2       585.3  
    Cash and cash equivalents, end of period   $ 643.2     $ 420.9  
     

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

    TRANSUNION AND SUBSIDIARIES
    Non-GAAP Financial Measures

    We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes, Adjusted Effective Tax Rate and Leverage Ratio for all periods presented. These are important financial measures for the Company but are not financial measures as defined by GAAP. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income attributable to the Company, diluted earnings per share or cash provided by operating activities. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are presented in the tables below.

    We present Consolidated Adjusted EBITDA, Consolidated Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted Provision for Income Taxes and Adjusted Effective Tax Rate as supplemental measures of our operating performance because these measures eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. These are measures frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours.

    Our board of directors and executive management team use Adjusted EBITDA as an incentive compensation measure for most eligible employees and Adjusted Diluted Earnings per Share as an incentive compensation measure for certain of our senior executives.

    Under the credit agreement governing our Senior Secured Credit Facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to our Leverage Ratio which is partially based on Adjusted EBITDA. Investors also use our Leverage Ratio to assess our ability to service our debt and make other capital allocation decisions.

    Consolidated Adjusted EBITDA

    Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted EBITDA for the periods presented:

    • Discontinued operations, net of tax, as reported on our Consolidated Statements of Operations. We exclude discontinued operations, net of tax because we believe it does not reflect the underlying and ongoing performance of our business operations.
    • Net interest expense is the sum of interest expense and interest income as reported on our Consolidated Statements of Operations.
    • Provision for income taxes, as reported on our Consolidated Statements of Operations.
    • Depreciation and amortization, as reported on our Consolidated Statements of Operations.
    • Stock-based compensation is used as an incentive to engage and retain our employees. It is predominantly a non-cash expense. We exclude stock-based compensation because it may not correlate to the underlying performance of our business operations during the period since it is measured at the grant date fair value and it is subject to variability as a result of performance conditions and timing of grants. These expenses are reported within cost of services and selling, general and administrative on our Consolidated Statements of Operations.
    • Operating model optimization program represents employee separation costs, facility lease exit costs, and other business process optimization expenses incurred in connection with the transformation plan discussed further in “Results of Operations – Factors Affecting Our Results of Operations” in our Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2024. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business. Further, these costs will vary and may not be comparable during the transformation initiative as we progress toward an optimized operating model. These costs are reported primarily in restructuring and selling, general and administrative on our Consolidated Statements of Operations.
    • Accelerated technology investment includes Project Rise and the final phase of our technology investment announced in November 2023. Project Rise was announced in February 2020 and was originally expected to be completed in 2022. Following our acquisition of Neustar in December 2021, we recognized the opportunity to take advantage of Neustar’s capabilities to enhance and complement our cloud-based technology already under development as part of Project Rise. As a result, we extended Project Rise’s timeline to 2024 and increased the total estimated cost to approximately $240 million. In November 2023, we announced our plans to further leverage Neustar’s technology to standardize and streamline our product delivery platforms and to build a single global platform for fulfillment of our product lines. The additional investment is expected to be approximately $90 million during 2024 and 2025 and represents the final phase of the technology investment in our global technology infrastructure and core customer applications. We expect that the accelerated technology investment will fundamentally transform our technology infrastructure by implementing a global cloud-based approach to streamline product development, increase the efficiency of ongoing operations and maintenance and enable a continuous improvement approach to avoid the need for another major technology overhaul in the foreseeable future. The unique effort to build a secure, reliable and performant hybrid cloud infrastructure requires us to dedicate separate resources in order to develop the new cloud-based infrastructure in parallel with our current on-premise environment by maintaining our existing technology team to ensure no disruptions to our customers. The costs associated with the accelerated technology investment are incremental and redundant costs that will not recur after the program has been completed and are not representative of our underlying operating performance. Therefore, we believe that excluding these costs from our non-GAAP measures provides a better reflection of our ongoing cost structure. These costs are primarily reported in cost of services and therefore do not include amounts that are capitalized as internally developed software.
    • Mergers and acquisitions, divestitures and business optimization expenses are non-recurring expenses associated with specific transactions (exploratory or executed) and consist of (i) transaction and integration costs, (ii) post-acquisition adjustments to contingent consideration or to assets and liabilities that occurred after the acquisition measurement period, (iii) fair value and impairment adjustments related to investments and call and put options, (iv) transition services agreement income, and (v) a loss on disposal of a business. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary depending upon the timing of such transactions. These expenses are reported in costs of services, selling, general and administrative and other income and (expenses), net, on our Consolidated Statements of Operations.
    • Net other adjustments principally relate to: (i) deferred loan fee expense from debt prepayments and refinancing, (ii) currency remeasurement on foreign operations, (iii) other debt financing expenses consisting primarily of revolving credit facility deferred financing fee amortization and commitment fees and expenses associated with ratings agencies and interest rate hedging, (iv) legal and regulatory expenses, net, and (v) other non-operating (income) expense. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business and create variability between periods based on the nature and timing of the expense or income. These costs are reported in selling, general and administrative and in non-operating income and expense, net as applicable based on their nature on our Consolidated Statements of Operations.

    Consolidated Adjusted EBITDA Margin

    Management defines Consolidated Adjusted EBITDA Margin as Consolidated Adjusted EBITDA divided by total revenue as reported.

    Adjusted Net Income

    Management has excluded the following items from net income attributable to TransUnion in order to calculate Adjusted Net Income for the periods presented:

    • Discontinued operations, net of tax (see Consolidated Adjusted EBITDA above).
    • Amortization of certain intangible assets presents non-cash amortization expenses related to assets that arose from our 2012 change in control transaction and business combinations occurring after our 2012 change in control. We exclude these expenses as we believe they are not directly correlated to the underlying performance of our business operations and vary dependent upon the timing of the transactions that give rise to these assets. Amortization of intangible assets is included in depreciation and amortization on our Consolidated Statements of Operations.
    • Stock-based compensation (see Consolidated Adjusted EBITDA above).
    • Operating model optimization program (see Consolidated Adjusted EBITDA above).
    • Accelerated technology investment (see Consolidated Adjusted EBITDA above).
    • Mergers and acquisitions, divestiture and business optimization (see Consolidated Adjusted EBITDA above).
    • Net other is consistent with the definition in Consolidated Adjusted EBITDA above except that other debt financing expenses and certain other miscellaneous income and expense that are included in the adjustment to calculate Adjusted EBITDA are excluded in the adjustment made to calculate Adjusted Net Income.
    • Total adjustments for income taxes relates to the cumulative adjustments discussed below for Adjusted Provision for Income Taxes. This adjustment is made for the reasons indicated in Adjusted Provision for Income Taxes below. Adjustments related to the provision for income taxes are included in the line item by this name on our consolidated statement of operations.

    Adjusted Diluted Earnings Per Share

    Management defines Adjusted Diluted Earnings per Share as Adjusted Net Income divided by the weighted-average diluted shares outstanding.

    Adjusted Provision for Income Taxes

    Management has excluded the following items from our provision for income taxes for the periods presented:

    • Tax effect of above adjustments represents the income tax effect of the adjustments related to Adjusted Net Income described above. The tax rate applied to each adjustment is based on the nature of each line item. We include the tax effect of the adjustments made to Adjusted Net Income to provide a comprehensive view of our adjusted net income.
    • Excess tax expense (benefit) for stock-based compensation is the permanent difference between expenses recognized for book purposes and expenses recognized for tax purposes, in each case related to stock-based compensation expense. We exclude this amount from the Adjusted Provision for Income Taxes in order to be consistent with the exclusion of stock-based compensation from the calculation of Adjusted Net Income.
    • Other principally relates to (i) deferred tax adjustments, including rate changes, (ii) infrequent or unusual valuation allowance adjustments, (iii) return to provision, tax authority audit adjustments, and reserves related to prior periods, and (iv) other non-recurring items. We exclude these items because they create variability that impacts comparability between periods.

    Adjusted Effective Tax Rate

    Management defines Adjusted Effective Tax Rate as Adjusted Provision for Income Taxes divided by Adjusted income from continuing operations before income taxes. We calculate adjusted income from continuing operations before income taxes by excluding the pre-tax adjustments in the calculation of Adjusted Net Income discussed above and noncontrolling interest related to these pre-tax adjustments from income from continuing operations before income taxes.

    Leverage Ratio

    Management defines Leverage Ratio as net debt divided by Consolidated Adjusted EBITDA for the most recent twelve-month period including twelve months of Adjusted EBITDA from significant acquisitions. Since the Leverage Ratio is calculated on a trailing twelve month basis, prior period goodwill impairment is excluded as this expense may not directly correlate to the underlying performance of our business operations during that period and may vary significantly between periods. Net debt is defined as total debt less cash and cash equivalents as reported on the balance sheet as of the end of the period.

    This earnings release presents constant currency growth rates assuming foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. This earnings release also presents organic constant currency growth rates, which assumes consistent foreign currency exchange rates between years and also eliminates the impact of our recent acquisitions. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates and the impacts of recent acquisitions.

    Free cash flow is defined as cash provided by operating activities less capital expenditures and is a measure we may refer to.

    Refer to Schedules 1 through 7 for a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measure.

    SCHEDULE 1
    TRANSUNION AND SUBSIDIARIES
    Revenue and Adjusted EBITDA growth rates as Reported, CC, and Organic CC
    (Unaudited)

        For the Three Months Ended September 30, 2024 compared with
    the Three Months Ended September 30, 2023    		   For the Nine Months Ended September 30, 2024 compared with
    the Nine Months Ended September 30, 2023
        Reported   CC Growth1   Organic CC
    Growth2    		   Reported   CC Growth1   Organic CC
    Growth2
    Revenue:                        
    Consolidated   12.0 %   12.2 %   12.2 %   9.4 %   9.4 %   9.4 %
    U.S. Markets   12.5 %   12.5 %   12.5 %   8.4 %   8.4 %   8.4 %
    Financial Services   17.1 %   17.1 %   17.1 %   13.5 %   13.5 %   13.5 %
    Emerging Verticals   3.3 %   3.3 %   3.3 %   4.0 %   4.0 %   4.0 %
    Consumer Interactive   21.4 %   21.3 %   21.3 %   6.0 %   6.0 %   6.0 %
    International   11.3 %   12.1 %   12.1 %   13.4 %   13.5 %   13.5 %
    Canada   6.8 %   8.6 %   8.6 %   11.5 %   12.7 %   12.7 %
    Latin America   7.2 %   12.7 %   12.7 %   11.8 %   10.9 %   10.9 %
    United Kingdom   6.0 %   3.7 %   3.7 %   4.9 %   2.5 %   2.5 %
    Africa   12.3 %   9.5 %   9.5 %   8.3 %   10.4 %   10.4 %
    India   21.5 %   23.1 %   23.1 %   25.4 %   27.0 %   27.0 %
    Asia Pacific   11.1 %   11.5 %   11.5 %   13.6 %   14.2 %   14.2 %
                             
    Adjusted EBITDA:                        
    Consolidated   10.5 %   10.9 %   10.9 %   10.9 %   11.0 %   11.0 %
    U.S. Markets   9.0 %   9.0 %   9.0 %   8.2 %   8.2 %   8.2 %
    International   13.9 %   15.3 %   15.3 %   17.4 %   17.9 %   17.9 %
    1.  Constant Currency (“CC”) growth rates assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.
       
    2.  We have no inorganic revenue or Adjusted EBITDA for the periods presented. Organic CC growth rate is the CC growth rate less the inorganic growth rate.

    SCHEDULE 2
    TRANSUNION AND SUBSIDIARIES
    Consolidated and Segment Revenue, Adjusted EBITDA, and Adjusted EBITDA Margin (Unaudited)
    (dollars in millions)

      Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
       2024    2023    2024    2023
    Revenue:              
    U.S. Markets gross revenue              
    Financial Services $ 367.2     $ 313.7     $ 1,077.6     $ 949.6  
    Emerging Verticals   307.2       297.3       913.1       877.9  
    Consumer Interactive   173.7       143.1       455.1       429.4  
    U.S. Markets gross revenue $ 848.1     $ 754.0     $ 2,445.9     $ 2,256.9  
                   
    International gross revenue              
    Canada $ 39.4     $ 36.9     $ 115.9     $ 103.9  
    Latin America   33.5       31.2       100.9       90.2  
    United Kingdom   57.8       54.5       168.6       160.7  
    Africa   17.1       15.2       48.0       44.3  
    India   68.2       56.1       202.8       161.8  
    Asia Pacific   25.6       23.1       77.1       67.9  
    International gross revenue $ 241.6     $ 217.1     $ 713.3     $ 628.9  
                   
    Total gross revenue $ 1,089.6     $ 971.2     $ 3,159.2     $ 2,885.8  
                   
    Intersegment revenue eliminations              
    U.S. Markets $ (2.8 )   $ (1.0 )   $ (7.4 )   $ (4.6 )
    International   (1.9 )     (1.5 )     (4.8 )     (4.3 )
    Total intersegment revenue eliminations $ (4.7 )   $ (2.5 )   $ (12.3 )   $ (8.9 )
                   
    Total revenue as reported $ 1,085.0     $ 968.7     $ 3,147.0     $ 2,876.9  
                   
    Adjusted EBITDA:              
    U.S. Markets $ 319.9     $ 293.7     $ 920.9     $ 850.9  
    International   110.5       97.0       318.1       271.0  
    Corporate   (36.7 )     (34.5 )     (110.6 )     (104.3 )
    Adjusted EBITDA Margin:1              
    U.S. Markets   37.7 %     38.9 %     37.6 %     37.7 %
    International   45.7 %     44.7 %     44.6 %     43.1 %
    1.  Segment Adjusted EBITDA Margins are calculated using segment gross revenue and segment Adjusted EBITDA. Consolidated Adjusted EBITDA Margin is calculated using total revenue as reported and consolidated Adjusted EBITDA.
      Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
       2024     2023     2024    2023 
    Reconciliation of Net income (loss) attributable to TransUnion to consolidated Adjusted EBITDA:              
    Net income (loss) attributable to TransUnion $ 68.0     $ (318.8 )   $ 218.2     $ (212.2 )
    Discontinued operations, net of tax   —       0.5       —       0.7  
    Income (loss) from continuing operations attributable to TransUnion $ 68.0     $ (318.3 )   $ 218.2     $ (211.5 )
    Net interest expense   58.9       67.8       183.3       202.1  
    Provision for income taxes   24.9       22.2       68.9       60.1  
    Depreciation and amortization   133.6       131.3       400.5       391.1  
    EBITDA $ 285.4     $ (97.0 )   $ 870.8     $ 441.8  
    Adjustments to EBITDA:              
    Stock-based compensation   33.8       27.0       85.7       73.3  
    Goodwill impairment1   —       414.0       —       414.0  
    Mergers and acquisitions, divestitures and business optimization2   7.3       (6.0 )     17.1       24.5  
    Accelerated technology investment3   21.8       16.3       58.6       53.5  
    Operating model optimization program4   47.3       —       86.4       —  
    Net other5   (2.0 )     1.8       9.7       10.6  
    Total adjustments to EBITDA $ 108.3     $ 453.1     $ 257.5     $ 575.8  
    Consolidated Adjusted EBITDA $ 393.7     $ 356.1     $ 1,128.4     $ 1,017.6  
                   
    Net income (loss) attributable to TransUnion margin   6.3 %     (32.9 )%     6.9 %     (7.4 )%
    Consolidated Adjusted EBITDA margin5   36.3 %     36.8 %     35.9 %     35.4 %
                                   

    As a result of displaying amounts in millions, rounding differences may exist in the tables above and footnotes below.

     1.  During the three and nine months ended September 30, 2023, we recorded a goodwill impairment of $414.0 million related to our United Kingdom reporting unit in our International segment.
     2.  Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
           2024    2023     2024    2023 
      Transaction and integration costs   $ 3.6   $ 5.8     $ 7.0   $ 21.0  
      Fair value and impairment adjustments     —     (10.7 )     0.8     0.8  
      Post-acquisition adjustments     3.7     —       9.4     5.1  
      Transition services agreement income     —     (1.1 )     —     (2.4 )
      Total mergers and acquisitions, divestitures and business optimization   $ 7.3   $ (6.0 )   $ 17.1   $ 24.5  
     3.  Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities, which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023
      Foundational Capabilities   $ 9.9   $ 8.0   $ 25.0   $ 27.7
      Migration Management     11.0     7.2     29.9     21.9
      Program Enablement     0.9     1.1     3.8     3.9
      Total accelerated technology investment   $ 21.8   $ 16.3   $ 58.6   $ 53.5
     4.  Operating model optimization consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
           2024    2023    2024    2023
      Employee separation   $ —   $ —   $ 24.7   $ —
      Facility exit     40.5     —     42.1     —
      Business process optimization     6.8     —     19.6     —
      Total operating model optimization   $ 47.3   $ —   $ 86.4   $ —
     5.  Net other consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
           2024     2023     2024     2023 
      Deferred loan fee expense from debt prepayments and refinancing   $ 0.1     $ 1.0     $ 9.2     $ 3.1  
      Other debt financing expenses     0.5       0.3       1.6       1.5  
      Currency remeasurement on foreign operations     (1.7 )     0.8       (0.4 )     6.5  
      Other non-operating (income) expense     (0.8 )     (0.3 )     (0.7 )     (0.5 )
      Total other adjustments   $ (2.0 )   $ 1.8     $ 9.7     $ 10.6  
     6.  Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.


    SCHEDULE 3
    TRANSUNION AND SUBSIDIARIES
    Adjusted Net Income and Adjusted Diluted Earnings Per Share (Unaudited)
    (in millions, except per share data)

        Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
        2024   2023   2024   2023
    Income (loss) from continuing operations attributable to TransUnion   $ 68.0     $ (318.3 )   $ 218.2     $ (211.5 )
    Discontinued operations, net of tax     —       (0.5 )     —       (0.7 )
    Net income (loss) attributable to TransUnion   $ 68.0     $ (318.8 )   $ 218.2     $ (212.2 )
                     
    Weighted-average shares outstanding:                
    Basic     194.6       193.4       194.3       193.3  
    Diluted     197.0       193.4       196.3       193.3  
                     
    Basic earnings (loss) per common share from:                
    Income (loss) from continuing operations attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.12     $ (1.09 )
    Discontinued operations, net of tax     —       —       —       —  
    Net income (loss) attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.12     $ (1.10 )
    Diluted earnings (loss) per common share from:                
    Income (loss) from continuing operations attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.09 )
    Discontinued operations, net of tax     —       —       —       —  
    Net income (loss) attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.10 )
                     
    Reconciliation of Net income (loss) attributable to TransUnion to Adjusted Net Income:                
    Net income (loss) attributable to TransUnion   $ 68.0     $ (318.8 )   $ 218.2     $ (212.2 )
    Discontinued operations, net of tax     —       0.5       —       0.7  
    Income (loss) from continuing operations attributable to TransUnion   $ 68.0     $ (318.3 )   $ 218.2     $ (211.5 )
    Adjustments before income tax items:                
    Amortization of certain intangible assets1     71.5       72.1       214.9       221.2  
    Stock-based compensation     33.8       27.0       85.7       73.3  
    Goodwill impairment2     —       414.0       —       414.0  
    Mergers and acquisitions, divestitures and business optimization2     7.3       (6.0 )     17.1       24.5  
    Accelerated technology investment3     21.8       16.3       58.6       53.5  
    Operating model optimization program4     47.3       —       86.4       —  
    Net other5     (2.1 )     1.8       8.6       9.6  
    Total adjustments before income tax items   $ 179.6     $ 525.2     $ 471.3     $ 796.0  
    Total adjustments for income taxes6     (43.1 )     (29.5 )     (112.9 )     (85.2 )
    Adjusted Net Income   $ 204.5     $ 177.4     $ 576.6     $ 499.3  
                     
    Weighted-average shares outstanding:                
    Basic     194.6       193.4       194.3       193.3  
    Diluted     197.0       194.6       196.3       194.8  
                     
    Adjusted Earnings per Share:                
    Basic   $ 1.05     $ 0.92     $ 2.97     $ 2.58  
    Diluted   $ 1.04     $ 0.91     $ 2.94     $ 2.56  
        Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
        2024   2023   2024   2023
    Reconciliation of Diluted earnings (loss) per share from Net income (loss) attributable to TransUnion to Adjusted Diluted Earnings per Share:                
    Diluted earnings (loss) per common share from:                
    Net income (loss) attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.10 )
    Discontinued operations, net of tax     —       —       —       —  
    Income (loss) from continuing operations attributable to TransUnion   $ 0.35     $ (1.65 )   $ 1.11     $ (1.09 )
    Adjustments before income tax items:                
    Amortization of certain intangible assets1     0.36       0.37       1.09       1.14  
    Stock-based compensation     0.17       0.14       0.44       0.38  
    Goodwill impairment2     —       2.13       —       2.13  
    Mergers and acquisitions, divestitures and business optimization3     0.04       (0.03 )     0.09       0.13  
    Accelerated technology investment4     0.11       0.08       0.30       0.27  
    Operating model optimization program5     0.24       —       0.44       —  
    Net other6     (0.01 )     0.01       0.04       0.05  
    Total adjustments before income tax items   $ 0.91     $ 2.70     $ 2.40     $ 4.09  
    Total adjustments for income taxes7     (0.22 )     (0.15 )     (0.57 )     (0.44 )
    Adjusted Diluted Earnings per Share   $ 1.04     $ 0.91     $ 2.94     $ 2.56  
     

    Each component of earnings per share is calculated independently, therefore, rounding differences exist in the table above.

     1.  Consists of amortization of intangible assets from our 2012 change-in-control transaction and amortization of intangible assets established in business acquisitions after our 2012 change-in-control transaction.
     2.  During the three and nine months ended September 30, 2023, we recorded a goodwill impairment of $414.0 million related to our United Kingdom reporting unit in our International segment.
     3.  Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023
      Transaction and integration costs   $ 3.6   $ 5.8     $ 7.0   $ 21.0  
      Fair value and impairment adjustments     —     (10.7 )     0.8     0.8  
      Post-acquisition adjustments     3.7     —       9.4     5.1  
      Transition services agreement income     —     (1.1 )     —     (2.4 )
      Total mergers and acquisitions, divestitures and business optimization   $ 7.3   $ (6.0 )   $ 17.1   $ 24.5  
     4.  Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform, including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023
      Foundational Capabilities   $ 9.9   $ 8.0   $ 25.0   $ 27.7
      Migration Management     11.0     7.2     29.9     21.9
      Program Enablement     0.9     1.1     3.8     3.9
      Total accelerated technology investment   $ 21.8   $ 16.3   $ 58.6   $ 53.5
     5.  Operating model optimization consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023
      Employee separation   $ —   $ —   $ 24.7   $ —
      Facility exit     40.5     —     42.1     —
      Business process optimization     6.8     —     19.6     —
      Total operating model optimization   $ 47.3   $ —   $ 86.4   $ —
     6.  Net other consisted of the following adjustments:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023
      Deferred loan fee expense from debt prepayments and refinancing   $ 0.1     $ 1.0   $ 9.2     $ 3.1
      Currency remeasurement on foreign operations     (1.7 )     0.8     (0.4 )     6.5
      Other non-operating (income) and expense     (0.5 )     —     (0.2 )     —
      Total other adjustments   $ (2.1 )   $ 1.8   $ 8.6     $ 9.6
     7.  Total adjustments for income taxes represents the total of adjustments discussed to calculate the Adjusted Provision for Income Taxes.

    SCHEDULE 4
    TRANSUNION AND SUBSIDIARIES
    Adjusted Provision for Income Taxes and Adjusted Effective Tax Rate (Unaudited)
    (dollars in millions)

      Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
      2024   2023   2024   2023
    Income (loss) from continuing operations before income taxes $ 96.8     $ (291.7 )   $ 300.5     $ (139.5 )
    Total adjustments before income tax items from Schedule 3   179.6       525.2       471.3       796.0  
    Adjusted income (loss) from continuing operations before income taxes $ 276.4     $ 233.5     $ 771.8     $ 656.5  
                   
    Reconciliation of Provision for income taxes to Adjusted Provision for Income Taxes:              
    Provision for income taxes   (24.9 )     (22.2 )     (68.9 )     (60.1 )
    Adjustments for income taxes:              
    Tax effect of above adjustments   (41.8 )     (27.9 )     (108.5 )     (90.1 )
    Eliminate impact of excess tax (benefit) expense for stock-based compensation   (2.3 )     0.7       (1.4 )     2.7  
    Other1   0.9       (2.2 )     (3.0 )     2.2  
    Total adjustments for income taxes $ (43.1 )   $ (29.5 )   $ (112.9 )   $ (85.2 )
    Adjusted Provision for Income Taxes $ (68.0 )   $ (51.7 )   $ (181.8 )   $ (145.3 )
                   
    Effective tax rate   25.7 %     (7.6 )%     22.9 %     (43.1 )%
    Adjusted Effective Tax Rate   24.6 %     22.2 %     23.6 %     22.1 %
                                   

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

      1.  Other adjustments for income taxes include:
          Three Months Ended
    September 30,    		   Nine Months Ended
    September 30,
          2024   2023   2024   2023 
      Deferred tax adjustments   $ 3.8     $ (0.2 )   $ (1.4 )   $ 0.6  
      Valuation allowance adjustments     (2.3 )     (1.9 )     (2.1 )     (0.8 )
      Return to provision, audit adjustments, and reserves related to prior periods     (1.2 )     1.4       1.2       2.6  
      Other adjustments     0.7       (1.6 )     (0.7 )     (0.3 )
      Total other adjustments   $ 0.9     $ (2.2 )   $ (3.0 )   $ 2.2  
     

    SCHEDULE 5
    TRANSUNION AND SUBSIDIARIES
    Leverage Ratio (Unaudited)
    (dollars in millions)

        Trailing Twelve
    Months Ended
    September 30, 2024
    Reconciliation of Net income attributable to TransUnion to Consolidated Adjusted EBITDA:    
    Net income attributable to TransUnion   $ 224.2
    Net interest expense     248.6
    Provision for income taxes     53.6
    Depreciation and amortization     533.8
    EBITDA   $ 1,060.2
    Adjustments to EBITDA:    
    Stock-based compensation   $ 113.0
    Mergers and acquisitions, divestitures and business optimization1     27.2
    Accelerated technology investment2     75.6
    Operating model optimization program3     164.0
    Net other4     14.4
    Total adjustments to EBITDA   $ 394.3
    Leverage Ratio Adjusted EBITDA   $ 1,454.5
         
    Total debt   $ 5,201.4
    Less: Cash and cash equivalents     643.2
    Net Debt   $ 4,558.2
         
    Ratio of Net Debt to Net income attributable to TransUnion     20.3
    Leverage Ratio     3.1

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

    1.  Mergers and acquisitions, divestitures and business optimization consisted of the following adjustments:
          Trailing Twelve
    Months Ended
    September 30, 2024
      Transaction and integration costs   $ 16.9  
      Fair value and impairment adjustments     10.3  
      Post-acquisition adjustments     0.1  
      Transition services agreement income     (0.1 )
      Total mergers and acquisitions, divestitures and business optimization   $ 27.2  
    2.  Represents expenses associated with our accelerated technology investment to migrate to the cloud. There are three components of the accelerated technology investment: (i) building foundational capabilities which includes establishing a modern, API-based and services-oriented software architecture, (ii) the migration of each application and customer data to the new enterprise platform including the redundant software costs during the migration period, as well as the efforts to decommission the legacy system, and (iii) program enablement, which includes dedicated resources to support the planning and execution of the program. The amounts for each category of cost are as follows:
          Trailing Twelve
    Months Ended
    September 30, 2024
      Foundational Capabilities   $         33.0        
      Migration Management             37.5        
      Program Enablement             5.1        
      Total accelerated technology investment   $         75.6        
    3.  Operating model optimization consisted of the following adjustments:
          Trailing Twelve
    Months Ended
    September 30, 2024
      Employee separation   $         96.6        
      Facility exit             45.5        
      Business process optimization             21.9        
      Total operating model optimization   $         164.0        
    4.  Net other consisted of the following adjustments:
          Trailing Twelve
    Months Ended
    September 30, 2024
      Deferred loan fee expense from debt prepayments and refinancings   $ 15.4  
      Other debt financing expenses     2.3  
      Currency remeasurement on foreign operations     (2.2 )
      Other non-operating (income) and expense     (1.2 )
      Total other adjustments   $ 14.4  
       

    SCHEDULE 6
    TRANSUNION AND SUBSIDIARIES
    Segment Depreciation and Amortization (Unaudited)
    (in millions)

      Three Months Ended September 30,   Nine Months Ended September 30,
       2024    2023    2024    2023
                   
    U.S. Markets $ 99.3   $ 99.3   $ 299.4   $ 292.3
    International   33.4     31.0     98.1     95.5
    Corporate   1.0     1.1     3.0     3.3
    Total depreciation and amortization $ 133.6   $ 131.3   $ 400.5   $ 391.1
     

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

    SCHEDULE 7
    TRANSUNION AND SUBSIDIARIES
    Reconciliation of Non-GAAP Guidance (Unaudited)
    (in millions, except per share data)

      Three Months Ended December 31, 2024   Twelve Months Ended December 31, 2024
      Low   High   Low   High
    Guidance reconciliation of Net income attributable to TransUnion to Adjusted EBITDA:              
    Net income attributable to TransUnion $ 65     $ 77     $ 284     $ 295  
    Interest, taxes and depreciation and amortization   216       219       868       872  
    EBITDA $ 281     $ 296     $ 1,152     $ 1,167  
    Stock-based compensation, mergers, acquisitions divestitures and business optimization-related expenses and other adjustments1   79       79       336       336  
    Adjusted EBITDA $ 360     $ 375     $ 1,488     $ 1,503  
                   
    Net income attributable to TransUnion margin   6.4 %     7.4 %     6.8 %     7.1 %
    Consolidated Adjusted EBITDA margin2   35.5 %     36.2 %     35.8 %     36.0 %
                   
    Guidance reconciliation of Diluted earnings per share to Adjusted Diluted Earnings per Share:              
    Diluted earnings per share $ 0.34     $ 0.39     $ 1.45     $ 1.51  
    Adjustments to diluted earnings per share1   0.58       0.58       2.42       2.42  
    Adjusted Diluted Earnings per Share $ 0.92     $ 0.98     $ 3.87     $ 3.93  
     

    As a result of displaying amounts in millions, rounding differences may exist in the table above.

    1. These adjustments include the same adjustments we make to our Adjusted EBITDA and Adjusted Net Income as discussed in the Non-GAAP Financial Measures section of our Earnings Release.
    2. Consolidated Adjusted EBITDA margin is calculated by dividing Consolidated Adjusted EBITDA by total revenue.

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