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Category: France

  • MIL-OSI China: Chen wins 4th world title as Popovici completes sprint double

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

    China’s Chen Yuxi captured her fourth world title in the women’s 10-meter platform, while Romania’s David Popovici delivered a historic swim in the men’s 100-meter freestyle at the World Aquatics Championships on Thursday.

    Chen, who led both the preliminary and semifinal rounds, secured gold with a score of 430.50 points. Germany’s Pauline Alexandra Pfeif earned silver with 367.10 points, while 15-year-old Chinese diver Xie Peiling took bronze with 358.20 in her world championships debut.

    Chen Yuxi of China kisses the medal after the awarding ceremony for the women’s 10m platform final of diving at the World Aquatics Championships in Singapore, July 31, 2025. (Xinhua/Luo Yuan)

    “Every world championship holds a special place in my memory,” Chen said. “This time, under physical strain and the challenge of maintaining form, I was still able to deliver a 430-point performance. I’m very satisfied.”

    Chinese swimmers added two bronze medals on the fifth day of competition. In the women’s 50-meter backstroke final, Wan Letian finished third in 27.30 seconds, behind American swimmers Katharine Berkoff and Regan Smith, who claimed gold and silver, respectively.

    “I’ve overcome a mental hurdle,” Wan said. “I wasn’t very confident before, but standing on the podium at an international event has given me courage and helped me identify areas for improvement. I hope to go further in future competitions.”

    In the women’s 4×200-meter freestyle relay final, the Chinese team of Liu Yaxin, Yang Peiqi, Yu Yiting and Li Bingjie finished third behind Australia and the United States. Li, who previously won silver in the 200m and 400m freestyle, anchored the final leg.

    “This was my first time swimming the anchor leg,” Li said. “My teammates swam really well, so I just wanted to fight for the best possible result.”

    The men’s 100-meter freestyle final was one of the most anticipated races of the day. Popovici clocked a blistering 46.51 seconds, setting a new championship record and securing gold. Jack Alexy of the United States took silver, and Australia’s Kyle Chalmers earned bronze.

    Popovici’s time is the second-fastest ever in the event, just behind the world record of 46.40 seconds set by China’s Pan Zhanle at the Paris Olympics.

    “I’d give myself a 10 tonight,” Popovici said. “I’m not the kind of person who usually says something is perfect, but I think today really was.”

    In the men’s 200-meter individual medley final, France’s Leon Marchand, who broke the world record in the semifinals, won gold in 1:53.68. Shaine Casas of the U.S. took silver, and Hungary’s Hubert Kos earned bronze. China’s Wang Shun, the Tokyo 2020 Olympic champion, finished seventh.

    Reflecting on his eighth appearance at the world championships since 2011, Wang noted the rise in competition. “Especially at this edition, you can feel the level has risen a lot – perhaps because everyone refocused after the Olympics.”

    Canada’s Summer McIntosh set a new championship record in the women’s 200-meter butterfly, winning gold in 2:01.99. Regan Smith of the U.S. and Australia’s Elizabeth Dekkers rounded out the podium. China’s Yu Zidi narrowly missed a medal, finishing fourth.

    In semifinal action, Qin Haiyang advanced to the men’s 200-meter breaststroke final with the eighth-fastest time. Teammate Dong Zhihao finished 15th and did not advance. In the women’s 100-meter freestyle, Cheng Yujie qualified for the final with the fifth-fastest time; Wu Qingfeng placed 15th. In the women’s 200-meter breaststroke, Lyu Qinyao finished 10th and did not move on. Yu Jingming did not advance from the men’s 200-meter backstroke heats.

    MIL OSI China News –

    August 5, 2025

  • MIL-OSI China: 14 years on, veteran Wang still chasing elusive world title

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

    Fourteen years after making his debut at the World Aquatics Championships, China’s Wang Shun knows that winning a world title is becoming increasingly challenging. But the 31-year-old former Olympic champion is not ready to give up just yet.

    Wang, who captured gold in the 200m individual medley at the Tokyo 2020, finished seventh in Thursday’s final, clocking 1:57.92 – well off his personal best of 1:54.62 and slower than the 1:56.00 that earned him bronze at last year’s Paris Olympics.

    Wang Shun of China competes during the men’s 200m individual medley final of swimming at the World Aquatics Championships in Singapore, July 31, 2025. (Xinhua/Wu Zhizun)

    “I don’t think I was fully activated today,” Wang said. “I felt a bit soft overall. At the start, I didn’t push out strongly or decisively enough.”

    His journey on the world stage began in 2011 in Shanghai, where the 17-year-old Wang finished 18th in his signature event – the men’s 200m individual medley – as American Ryan Lochte set a then-world record of 1:54.00.

    That mark was shattered on Wednesday by France’s Leon Marchand, who clocked 1:52.69 in the semifinals, raising the bar even higher for the next generation.

    “It’s been an emotional journey,” Wang said. “Back in 2011, Lochte broke the world record – that was a benchmark for me to chase. Now in my eighth Worlds, Marchand breaks it again. There’s always someone ahead to catch up with. That’s what keeps us moving forward.”

    Marchand, just 23 years old, now holds both the 200m and 400m IM world records and has already secured four Olympic gold medals and six world titles.

    “First of all, congratulations to Marchand for breaking the world record – it’s an incredibly inspiring result,” Wang said. “It’s truly an unbelievable performance and really uplifting for all of us.”

    While Wang remains the only Asian man to have ever won Olympic gold in the 200m IM, a world title still eludes him. He previously earned bronze in the event at the 2015 Kazan and 2017 Budapest championships.

    “This is already my eighth World Championships,” Wang said. “Every time, I can feel how opponents and the field are evolving. Especially after last year’s Olympics, everyone seems to have stepped up. In the 200m IM, the overall level has risen really quickly. Sometimes I just have to sigh in awe – the rate of progress in this sport is incredibly fast.”

    Asked if he still dreams of winning a world title, Wang smiled. “Chasing dreams and staying passionate – that’s what matters most,” he said. “We need to face challenges, fatigue, and worry with courage, and keep a brave heart moving forward.”

    MIL OSI China News –

    August 5, 2025

  • MIL-OSI China: Slovenia stun defending champion France in VNL quarters

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

    Defending champion France failed to advance to the semifinals after a 3-1 loss to Slovenia in the quarterfinals of the 2025 FIVB Men’s Volleyball Nations League (VNL) Finals on Thursday.

    The teams had split previous encounters, with two-time Olympic gold medalist France sweeping Slovenia 3-0 during the Burgas leg of the VNL in late June. However, Olympic debutant Slovenia edged host France 3-2 in a group match at the Paris Olympics last year.

    The opening set was tightly contested. With the score tied at 12-12, Slovenia went on a strong serving run, scoring four straight points to pull ahead and eventually take the set 25-22.

    France responded in the second set with improved attack efficiency and strong execution, quickly building a comfortable lead and evening the match with a 25-15 win.

    Momentum shifted again in the third set as France’s unforced errors piled up. Slovenia capitalized with a decisive 12-4 run to win the set 25-19.

    Facing elimination, France continued to struggle in the fourth set, while Slovenia maintained its rhythm and confidence to close out the match 25-18. The victory sets up a semifinal clash between Slovenia and Italy.

    “We have to improve on a lot of things,” said French captain Benjamin Toniutti. “Our reception wasn’t good, and we made a lot of mistakes in serving. It just wasn’t our day. We’ll go back to France and work hard to prepare for the World Championship.”

    Slovenian captain Jan Kozamernik praised his team’s composure. “I think today we showed the right attitude, how we stood on the court. And we were really decisive in the important moments. When we had the chances, we took the chances.”

    “It was unexpected for sure, even for us,” added outside hitter Rok Mozic. “But we came from a good position, without pressure. We don’t want to stop. We have two more games in front of us, and for sure we want to go home with a medal.”

    In Thursday’s other quarterfinal, world No. 1 Poland defeated Japan 3-0 (25-23, 26-24, 25-12) and will face Brazil in Saturday’s semifinal.

    MIL OSI China News –

    August 5, 2025

  • MIL-Evening Report: Why UK recognition of a Palestinian state should not be conditional on Israel’s actions

    Source: The Conversation (Au and NZ) – By Karen Scott, Professor in Law, University of Canterbury

    Getty Images

    The announcement this week by UK Prime Minister Keir Starmer on the recognition of a Palestininian state has been welcomed by many who want to see a ceasefire in Gaza and lasting peace in the region.

    In contrast to other recent statements on the status of Palestine, however, the UK has said it will recognise Palestine as a state in September

    unless the Israeli government takes substantive steps to end the appalling situation in Gaza and commits to a long term sustainable peace, including through allowing the UN to restart without delay the supply of humanitarian support to the people of Gaza to end starvation, agreeing to a ceasefire, and making clear there will be no annexations in the West Bank.

    Until this week, the UK’s position had been that recognition would only follow a negotiated two-state solution in Israel-Palestine. Other countries have now begun to shift from that position, too.

    The latest UK statement was preceded by announcements from France on July 25 and Canada on July 31 that they too would recognise Palestine as a state in September.

    But the UK position is different in one important way: it is conditional on Israel failing to comply with its international humanitarian obligations in Gaza and the West Bank.

    In other words, recognition of Palestine as a state by the UK is being used as a stick to persuade Israel to agree to a ceasefire. Should Israel agree to those conditions, the UK will presumably not recognise Palestine as a state in September, but will revert to its original position on a two-state solution.

    Conditional recognition subject to action by Israel – a third state – represents an unwelcome and arguably dangerous departure from international practice.

    While recognition (or otherwise) of states is inherently political – as demonstrated by the unique status of Taiwan, for example – it is not and should not be made conditional on the action or inaction of third states.

    How states are recognised

    According to the Convention on the Rights and Duties of States, a state must have a permanent population, territory, an independent government, and the capacity to enter into relations with other states, as well as self-determination.

    Palestine has arguably met all these criteria, with the possible exception of an independent government, given the level of Israeli intervention in the West Bank and the current situation in Gaza.

    Although recognition by other states is arguably not a formal criterion of statehood, it is very difficult to function as a state without reasonably widespread recognition by other states.

    Some 147 countries – two-thirds of UN members – now recognise the State of Palestine, including Spain, Ireland and Norway, which made announcements in 2024.

    Those choosing not to formally recognise a Palestinian state are now in a small minority, including Australia and New Zealand. This is inevitably leading to calls in those countries to change position.

    Australia is considering such a shift, subject to conditions similar to those set out by Canada – including the release of Israeli hostages, the demilitarisation of Hamas, and reform of the Palestinian Authority.

    New Zealand is currently maintaining its longstanding position of recognising Palestine within the context of a two-state solution. On July 30, Foreign Minister Winston Peters and 13 of his counterparts issued a joint statement – the “New York Call” – demanding an immediate ceasefire in Gaza and reiterating “unwavering commitment to the vision of the two-State solution”.

    The statement also asserted that “positive consideration” to recognise the state of Palestine is “an essential step towards the two-state solution”.

    Better options are available

    The UK’s position, however, introduces another dynamic. By using recognition of Palestine as a tool to punish Israel for its actual and alleged breaches of international law in Gaza, it is implicitly failing to respect Palestine’s right to self-determination.

    If Palestine deserves statehood, it is on its own terms, not as a condition of Israel’s policies and actions.

    But it is also setting a dangerous precedent. Countries could choose to recognise (or not recognise) states to pressure or punish them (or indeed other states) for breaches of international law. Such breaches may or may not be connected to the state actually seeking recognition.

    This is important, because the post-colonial settlement of geographical boundaries remains deeply insecure in many regions. As well, low-lying island nations at risk of losing territory from sea-level rise may also find their status challenged, as territory has traditionally been a requirement of statehood.

    The UK’s apparent conditional recognition of Palestine is only likely to increase this international instability around statehood.

    While the UK’s announcement may be “clever politics” from a domestic perspective, and avoids outright US opposition internationally, it has conflated two separate issues.

    The better option would be for the UK to recognise Palestine as a state, joining a growing number of countries that plan to do so in advance of the UN General Assembly meeting in September. It could make this subject to conditions, including the release of hostages and exclusion of Hamas from Palestinian governance.

    And it should continue to press Israel to agree to a ceasefire in addition to the other demands set out in its announcement, and hold Israel accountable for its gross breaches of international law in Gaza. It can back up those demands with appropriate diplomatic and trade sanctions.

    New Zealand, too, has a range of options available, and can help increase the pressure on Israel by using them.

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

    – ref. Why UK recognition of a Palestinian state should not be conditional on Israel’s actions – https://theconversation.com/why-uk-recognition-of-a-palestinian-state-should-not-be-conditional-on-israels-actions-262345

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025

  • MIL-OSI Submissions: Why UK recognition of a Palestinian state should not be conditional on Israel’s actions

    Source: The Conversation – Global Perspectives – By Karen Scott, Professor in Law, University of Canterbury

    Getty Images

    The announcement this week by UK Prime Minister Keir Starmer on the recognition of a Palestininian state has been welcomed by many who want to see a ceasefire in Gaza and lasting peace in the region.

    In contrast to other recent statements on the status of Palestine, however, the UK has said it will recognise Palestine as a state in September

    unless the Israeli government takes substantive steps to end the appalling situation in Gaza and commits to a long term sustainable peace, including through allowing the UN to restart without delay the supply of humanitarian support to the people of Gaza to end starvation, agreeing to a ceasefire, and making clear there will be no annexations in the West Bank.

    Until this week, the UK’s position had been that recognition would only follow a negotiated two-state solution in Israel-Palestine. Other countries have now begun to shift from that position, too.

    The latest UK statement was preceded by announcements from France on July 25 and Canada on July 31 that they too would recognise Palestine as a state in September.

    But the UK position is different in one important way: it is conditional on Israel failing to comply with its international humanitarian obligations in Gaza and the West Bank.

    In other words, recognition of Palestine as a state by the UK is being used as a stick to persuade Israel to agree to a ceasefire. Should Israel agree to those conditions, the UK will presumably not recognise Palestine as a state in September, but will revert to its original position on a two-state solution.

    Conditional recognition subject to action by Israel – a third state – represents an unwelcome and arguably dangerous departure from international practice.

    While recognition (or otherwise) of states is inherently political – as demonstrated by the unique status of Taiwan, for example – it is not and should not be made conditional on the action or inaction of third states.

    How states are recognised

    According to the Convention on the Rights and Duties of States, a state must have a permanent population, territory, an independent government, and the capacity to enter into relations with other states, as well as self-determination.

    Palestine has arguably met all these criteria, with the possible exception of an independent government, given the level of Israeli intervention in the West Bank and the current situation in Gaza.

    Although recognition by other states is arguably not a formal criterion of statehood, it is very difficult to function as a state without reasonably widespread recognition by other states.

    Some 147 countries – two-thirds of UN members – now recognise the State of Palestine, including Spain, Ireland and Norway, which made announcements in 2024.

    Those choosing not to formally recognise a Palestinian state are now in a small minority, including Australia and New Zealand. This is inevitably leading to calls in those countries to change position.

    Australia is considering such a shift, subject to conditions similar to those set out by Canada – including the release of Israeli hostages, the demilitarisation of Hamas, and reform of the Palestinian Authority.

    New Zealand is currently maintaining its longstanding position of recognising Palestine within the context of a two-state solution. On July 30, Foreign Minister Winston Peters and 13 of his counterparts issued a joint statement – the “New York Call” – demanding an immediate ceasefire in Gaza and reiterating “unwavering commitment to the vision of the two-State solution”.

    The statement also asserted that “positive consideration” to recognise the state of Palestine is “an essential step towards the two-state solution”.

    Better options are available

    The UK’s position, however, introduces another dynamic. By using recognition of Palestine as a tool to punish Israel for its actual and alleged breaches of international law in Gaza, it is implicitly failing to respect Palestine’s right to self-determination.

    If Palestine deserves statehood, it is on its own terms, not as a condition of Israel’s policies and actions.

    But it is also setting a dangerous precedent. Countries could choose to recognise (or not recognise) states to pressure or punish them (or indeed other states) for breaches of international law. Such breaches may or may not be connected to the state actually seeking recognition.

    This is important, because the post-colonial settlement of geographical boundaries remains deeply insecure in many regions. As well, low-lying island nations at risk of losing territory from sea-level rise may also find their status challenged, as territory has traditionally been a requirement of statehood.

    The UK’s apparent conditional recognition of Palestine is only likely to increase this international instability around statehood.

    While the UK’s announcement may be “clever politics” from a domestic perspective, and avoids outright US opposition internationally, it has conflated two separate issues.

    The better option would be for the UK to recognise Palestine as a state, joining a growing number of countries that plan to do so in advance of the UN General Assembly meeting in September. It could make this subject to conditions, including the release of hostages and exclusion of Hamas from Palestinian governance.

    And it should continue to press Israel to agree to a ceasefire in addition to the other demands set out in its announcement, and hold Israel accountable for its gross breaches of international law in Gaza. It can back up those demands with appropriate diplomatic and trade sanctions.

    New Zealand, too, has a range of options available, and can help increase the pressure on Israel by using them.

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

    – ref. Why UK recognition of a Palestinian state should not be conditional on Israel’s actions – https://theconversation.com/why-uk-recognition-of-a-palestinian-state-should-not-be-conditional-on-israels-actions-262345

    MIL OSI –

    August 5, 2025

  • MIL-Evening Report: New Caledonia’s oldest party for independence rejects ‘Bougival’ deal

    By Patrick Decloitre, RNZ Pacific correspondent French Pacific Desk

    New Caledonia’s oldest pro-independence party, the Union Calédonienne (UC), has officially rejected a political agreement on the Pacific territory’s political future signed in Paris last month.

    The text, bearing the signatures of all of New Caledonia’s political parties represented in the local Congress — a total of 18 leaders, both pro-France and pro-independence — is described as a “project” for an agreement that would shape politics.

    Since it was signed in the city of Bougival, west of Paris, on July 12, after 10 days of intense negotiations, it has been dubbed a “bet on trust” and has been described by French Minister for Overseas Manuel Valls as a commitment from all signing parties to report to their respective bases and explain its contents.

    The Bougival document involves a series of measures and recognition by France of New Caledonia as a “State” which could become empowered with its own international relations and foreign affairs, provided they do not contradict France’s key interests.

    It also envisages dual citizenship — French and New Caledonian — provided future New Caledonian citizens are French nationals in the first place.

    It also describes a future devolution of stronger powers for each of the three provinces (North, South and Loyalty Islands), especially in terms of tax collection.

    Since it was published, the document, bearing a commitment to defend the text “as is”, was hailed as “innovative” and “historic”.

    New Caledonia’s leaders have started to hold regular meetings — sometimes daily — and sessions with their respective supporters and militants, mostly to explain the contents of what they have signed.

    The meetings were held by most pro-France parties and within the pro-independence camp, the two main moderate parties, UPM (Union Progressiste en Mélanésie) and PALIKA (Kanak Liberation Party).

    Over the past two weeks, all of these parties have strived to defend the agreement, which is sometimes described as a Memorandum of Agreement or a roadmap for future changes in New Caledonia.

    Most of the leaders who have inked the text have also held lengthy interviews with local media.

    Parties who have unreservedly pledged their support to and signed the Bougival document are:

    Pro-France side: Les Loyalistes, Rassemblement-LR, Wallisian-based Eveil Océanien and Calédonie Ensemble

    Pro-independence: UNI-FLNKS (which comprises UPM and PALIKA).

    But one of the main components of the pro-independence movement, the FLNKS (Kanak and Socialist National Liberation Front) — as its main pillar — the Union Calédonienne, has held a series of meetings indicating their resentment at their negotiators for having signed the contested document.

    UC held its executive committee on July 21, its steering committee on July 26, and FLNKS convened its political bureau on July 23.

    A ‘lure of sovereignty’
     All of these meetings concluded with an increasingly clear rejection of the Bougival document.

    Speaking at a news conference in Nouméa yesterday, UC leaders made it clear that they “formally reject” the agreement because they regard it as a “lure of sovereignty” and does not guarantee either real sovereignty or political balance.

    FLNKS chief negotiator Emmanuel Tjibaou, who is also UC’s chair, told local reporters he understood his signature on the document meant a commitment to return to New Caledonia, explain the text and obtain the approval of the political base.

    “I didn’t have a mandate to sign a political agreement, my mandate was to register the talks and bring them back to our people so that a decision can be made . . . it didn’t mean an acceptance on our part,” he said, mentioning it was a “temporary” document subject to further discussions.

    Tjibaou said some amendments his delegation had put on the table in Bougival “went missing” in the final text.

    Union Calédonienne chair and chief FLNKS negotiator Emmanuel Tjibaou . .. some amendments that his delegation had put on the table in Bougival “went missing” in the final text. Image: RNZ Pacific

    ‘Bougival, it’s over’
     “As far as we’re concerned, Bougival, it’s over”, UC vice-president Mickaël Forrest said.

    He said it was now time to move onto a “post-Bougival phase”.

    Meanwhile, the FLNKS also consulted its own “constitutionalists” to obtain legal advice and interpretation of the document.

    In a release about yesterday’s media conference, UC stated that the Bougival text could not be regarded as a balance between two “visions” for Kanaky New Caledonia, but rather a way of “maintaining New Caledonia as French”.

    The text, UC said, had led the political dialogue into a “new impasse” and it left several questions unanswered.

    “With the denomination of a ‘State’, a fundamental law (a de facto Constitution), the capacity to self-organise, and international recognition, this document is perceived as a project for an agreement to integrate (New Caledonia) into France under the guise of a decolonisation”.

    “The FLNKS has never accepted a status of autonomy within France, but an external decolonisation by means of accession to full sovereignty [which] grants us the right to choose our inter-dependencies,” the media release stated.

    The pro-independence party also criticised plans to enlarge the list of people entitled to vote at New Caledonia’s local elections — the very issue that triggered deadly and destructive riots in May 2024.

    It is also critical of a proposed mechanism that would require a vote at the Congress with a minimum majority of 64 percent (two thirds) before any future powers can be requested for transfer from France to New Caledonia.

    Assuming that current population trends and a fresh system of representation at the Congress will allow more representatives from the Southern province (about three quarters of New Caledonia’s population), UC said “in other words, it would be the non-independence [camp] who will have the power to authorise us — or not — to ask for our sovereignty”.

    They party confirmed that it had “formally rejected the Bougival project of agreement as it stands” following a decision made by its steering committee on July 26 “since the fundamentals of our struggle and the principles of decolonisation are not there”.

    Negotiators no longer mandated
     The decision also means that every member of its negotiating team who signed the document on July 12 is now de facto demoted and no longer mandated by the party until a new negotiating team is appointed, if required.

    “Union Calédonienne remains mobilised to arrive at a political agreement that takes into account the achievement of a trajectory towards full sovereignty”.

    On Tuesday, FLNKS president Christian Téin, as an invited guest of Corsica’s “Nazione” pro-independence movement, told French media he declared himself “individually against” the Bougival document, adding this was “far from being akin to full sovereignty”.

    Téin said that during the days that led to the signing of the document in Bougival “the pressure” exerted on negotiators was “terrible”.

    He said the result was that due to “excessive force” applied by “France’s representatives”, the final text’s content “looks like it is the French State and right-wing people who will decide the (indigenous) Kanak people’s future”.

    Facing crime-related charges, Téin is awaiting his trial, but was released from jail, under the condition that he does not return to New Caledonia.

    The leader of a CCAT (field action coordinating cell) created by Union Calédonienne late in 2023 to protest against a proposed French Constitutional amendment to alter voters’ rules of eligibility at local elections, was jailed for one year in mainland France. However, he was elected president of FLNKS in absentia in late August 2024.

    CCAT, meanwhile, was admitted as one of the new components of FLNKS.

    In a de facto split, the two main moderate pillars of FLNKS, UPM and PALIKA, at the same time, distanced themselves from the pro-independence UC-dominated platform, opening a rift within the pro-independence umbrella.

    The FLNKS is scheduled to hold an extraordinary meeting on August 9 (it was initially scheduled to be held on August 2), to “highlight the prospects of the pursuit of dialogue through a repositioning of the pro-independence movement’s political orientations”.

    French Minister for Overseas Manuel Valls (centre) shows signatures on the last page of New Caledonia’s new Bougival agreement earlier this month . . . “If tomorrow there was to be no agreement, it would mean the future, hope, would be put into question” Image: FB/RNZ Pacific

    Valls: ‘I’m not giving up’
     Reacting to the latest UC statements, Valls told French media he called on UC to have “a great sense of responsibility”.

    “If tomorrow there was to be no agreement, it would mean the future, hope, would be put into question. Investment, including for the nickel mining industry, would no longer be possible.”

    “I’m not giving up. Union Calédonienne has chosen to reject, as it stands, the Bougival accord project. I take note of this, but I profoundly regret this position.

    “An institutional void would be a disaster for [New Caledonia]. It would be a prolonged uncertainty, the risk of further instability, the return of violence,” he said.

    “But my door is not closed and I remain available for dialogue at all times. Impasse is not an option.”

    Valls said the Bougival document was “‘neither someone’s victory on another one, nor an imposed text: it was built day after day with partners around the table following months of long discussions.”

    In a recent letter specifically sent to Union Calédonienne, the French former Prime Minister suggested the creation of an editorial committee to start drafting future-shaping documents for New Caledonia, such as its “fundamental law”, akin to a Constitution for New Caledonia.

    Valls also stressed France’s financial assistance to New Caledonia, which last year totalled around 3 billion euros because of the costs associated to the May 2024 riots.

    The riots caused 14 dead, hundreds of injured and an estimated financial cost of more than 2 billion euros (NZ$5.8 billion) in damage.

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025

  • MIL-OSI: BW Energy: Second quarter and first half 2025 results 

    Source: GlobeNewswire (MIL-OSI)

    BW Energy delivered strong operational performance in the first half of 2025, driven by high production uptime, competitive cost levels, and a solid safety record with zero lost time incidents. The Company’s project portfolio continues to advance, with final investment decisions taken on both the Maromba development and the Golfinho Boost project. In addition, a substantial oil discovery was made at the Bourdon prospect in the Dussafu area, further expanding BW Energy’s resource base. Backed by strong cash generation and a resilient financial structure, BW Energy is well placed to drive growth and create long-term shareholder value. 

    HIGHLIGHTS 

    Strong operational performance 

    • H1 2025 net production of 6.2 (4.6) million barrels, equal to 34.2 (25.4) kbopd  
    • Operating cost1 of USD 18.3 (26.2) per barrel and zero lost time incidents 
    • Assumed operatorship of the BW Adolo FPSO 

     Successfully developing and increasing the resource base 

    • Final investment decision made on Maromba and Golfinho Boost projects 
    • Substantial oil discovery of 25 mmbbls in the Bourdon prospect  

    Robust financial results 

    • H1 2025 EBITDA of USD 281.1 (185.8) million and net profit of USD 109.7 (61.9) million 
    • Q2 2025 EBITDA of USD 99.0 million and net profit of USD 26.7 million 
    • Operating cash flow of USD 162.0 (85.1) million  
    • Cash position of USD 192.9 (244.2) million at 30 June 
    • New and upsized RBL facility up to USD 500 million


    2025 guidance unchanged 

    • Production: 11-12 mmbbls (30-32 kbopd) 
    • Operating cost1: USD 18-22 per barrel 
    • CAPEX: USD 650-700 million 
    • G&A: USD 19-22 million 

     (Numbers in parenthesis refer to H1 2024) 

    1) Operating costs exclude royalties, tariffs, workovers, crude oil purchases for domestic market obligations, production sharing costs in Gabon, and incorporates the impact of IFRS 16 adjustments 

    Comment from the CEO of BW Energy, Carl Arnet:  

    “BW Energy delivered a strong first half of 2025, with production above the upper end of our guidance range and operating costs at significantly more competitive levels than in 2024. This reflects continued focus on safe, efficient operations and disciplined cost management across the portfolio.

    During the period, we moved key development projects into execution, marking an important step forward in our growth strategy. The Maromba development in Brazil is now underway and will be transformative for BW Energy, increasing production to more than 90,000 barrels per day in 2028.

    Furthermore, we strengthened our portfolio, confirming new resources at the Bourdon prospect in the Dussafu licence. These are highly profitable barrels that highlight our strategy of leveraging existing infrastructure and pursuing fast‑track developments to accelerate value creation.

    Our financial foundation remains robust, with low leverage and strong underlying cash generation. This gives us the resilience to navigate market volatility while continuing to deliver growth and long‑term value for our shareholders.”


    Please find attached the report for the first half of 2025 and the second quarter presentation. 

    The report, presentation, excel data book and webcast will be available on:

    www.bwenergy.no/investors/reports-and-presentations 

    CONFERENCE CALL/WEBCAST  

    BW Energy will today hold a conference call followed by a Q&A hosted by CEO Carl K. Arnet and CFO Brice Morlot at 14:00 CEST.  

    The presentation may also be followed via webcast on:  

    https://events.webcast.no/viewer-registration/qQC1bQEB/register  

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended. 

    Conference call information:  

    To dial in to the conference call where the second quarter results and Q&A will be hosted, please dial in to one of the following numbers:  

    Participants dial in numbers: 

    DK: +45 7876 8490 
    SE: +46 8 1241 0952 
    NO: +47 2195 6342 
    UK: +44 203 769 6819 
    US: +1 646-787-0157 
    Singapore: 65-3-1591097 
    France: 33-1-81221259 
     
    Conference code: 980877  

    For further information, please contact: 

    Martin Seland Simensen, VP Investor Relations

    +47 416 92 087  

    Martin.simensen@bwenergy.no 

    About BW Energy: 

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 7% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.  

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.  

    Attachments

    • BWE Q2 presentation
    • BWE Financial report – 1H 2025

    The MIL Network –

    August 5, 2025

  • MIL-OSI: Atos – Half-year 2025 results on track. Full Year 2025 targets confirmed

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Half-year 2025 results on track
    Full Year 2025 targets confirmed

    • Significant progress in the execution of the Genesis transformation plan
      • Reset of cost base well engaged, already impacting profitability
      • Over 50% of the overall Genesis restructuring target incurred
        at the end of June
      • Growth pillar initial phase achieved to deliver long-term ambition
    • Operating Margin up 80 bps proforma from 2.0% to 2.8%, to €113m (+15.4% yoy) despite the material decline in revenue, as anticipated
      • Atos SBU: +1.7 pts to 5.7% driven by initial benefits from the restructuring plan and tight contract management
      • Eviden SBU: -1.7 pts to -7.9% – consistent with previously announced seasonality
    • Significant improvement in Free Cash Flow1to -€96m (including -€154m cash restructuring) from -€593m in H1 2024
    • H1 revenue at €4,020m, down 17.4% organically due to expected impact of contracts exit and low business traction in 2024.
    • Achieved a 10 pts yoy Book-to-Bill improvement reaching 83% despite soft market environment with:
      • Improved or flat order entry in all regions apart from France
      • Continued strategic deal wins with 11 large multi-year contracts signed vs. 5 in H1 2024. The positive commercial momentum is expected to continue in H2 2025
      • Rolling 12-month pipeline increased by €1.5bn in Q2 including €1.3bn in large deals (over €30m)
    • Full Year 2025 targets and long-term trajectory confirmed   
    • Share Purchase Agreement signed with the French State for the sale of Advanced Computing activities

    Paris, August 1st, 2025 – Atos, a leading provider of AI-powered digital transformation, today announces its half year 2025 financial results.

    Philippe Salle, Atos Group Chairman of the Board of Directors and Chief Executive Officer, declared:

    “In a challenging environment, I am very encouraged by the determination of our teams in rolling-out the Genesis transformation plan with no delay. The voluntary optimization of the Group cost base is already starting to show initial benefits as shown through our half-year results: the operating margin is improving by over 15% year-on-year, a positive momentum which we intend to pursue. Our limited cash consumption is reflecting our disciplined approach to cash management, and we notice a sheer increase in enthusiasm among our customers towards the strategic refocusing of the Group.
    We also reached a new significant milestone towards the sale of our Advanced Computing activities with the signature of a share purchase agreement with the French State.
    We are looking ahead to the rest of the year and beyond with confidence and a single focus: executing on our strategy. We remain strongly committed to our 2025 targets and our long-term financial trajectory.”

    H1 2025 performance highlights

    In € million H1 2025 H1 2024 Var.   H1 2024* Organic Var.
    Revenue 4,020  4,964 (944)   4,865 (845) 
    Operating Margin 113  115 (2)   98 +15
    In % of revenue 2.8% 2.3% +0.5 pts   2.0%  +0.8 pts
    OMDA 309  373 (64)      
    In % of revenue 7.7% 7.5% +0.2 pts      
    Net income – Group share  -696 -1,941 + 1,245      
    Free Cash Flow2 -96  -593 + 497      
    Net debt (excl. IFRS 9 adjustment) -1,681  -4,218 + 2,537      

    *: at constant scope and June 2025 average exchange rates

    Operational performance

    Group revenue reached 4,020 million euros in the first half 2025, reflecting a 17.4% organic decline compared to the first half of 2024, driven by 2024 contract losses and voluntary contract exits, especially in the Atos Strategic Business Unit (SBU) in the United States and the United Kingdom, as well as overall soft market environment. The Atos SBU generated revenue of 3,603 million euros, down 17.9% organically compared to the first half of 2024. The Eviden SBU revenue was down 11.9% compared to the first half of 2024, to 417 million euros in the first half of 2025.

    Group operating margin reached 113 million euros in the first half of 2025, representing an organic 15% increase compared to the first half of 2024 and 2.8% of revenue (compared to 2.0% in the first half of 2024), despite a 845 million revenue decline year-on-year. This performance demonstrates the initial benefits of the cost reduction measures engaged since the beginning of the year, especially in the Atos SBU where the operating margin improved 18% year-on-year. The Eviden SBU profitability was lower than last year, as expected, due to a strong seasonality throughout the year.

    Disclosure in this section represents the revised reporting structure of Atos Group, following the implementation of the new organization in the first half 2025 reporting period. These are those that will be presented in the consolidated financial statements for the first half of 2025, which will be included in the 2025 half year report. Atos has identified Atos France, Atos BNN Benelux & the Nordics, Atos UK&I, Atos USA & CA, Atos GACE, Atos IM, Atos Global Delivery Centers, Eviden and Global Structures as the operating segments, mirroring the internal reporting structure. This reflects the review, management and assessment of the group’s operating results by Group Management following the implementation of the new organization.

    In € million  H1 2025 Revenue H1 2024*   Revenue Organic variation H1 2025 OM H1 2024 OM* H1 2025 OM Organic variation*  
     
    ATOS 3,603 4,391 -17.9% 204 173 5.7% +18.2%  
    Germany, Austria & Central Europe 767 831 -7.6% 1 -11 0.1% ns  
    USA & Canada 695 978 -29.0% 70 92 10.1% -24.4%  
    France 591 663 -10.8% 13 9 2.1% +45.4%  
    UK & Ireland 583 821 -29,0% 50 48 8.6% +4.5%  
    International Markets 561 668 -16.0% 46 39 8.2% +18.8%  
    BNN Benelux & the Nordics 402 425 -5.4% 23 -1 5.6% ns  
    Global Delivery Centers 5 6 -18.7% 2 -3 0.1% ns  
    Eviden 417 474 -11.9% -33 -30 -7.9% +11.5%  
    Global Structures – – – -57 -45 -1.4% +28.8%  
    Group total 4,020 4,865 -17.4% 113 98 2.8% +15.4%  

     *: at constant scope and June 2025 average exchange rates

    Atos – Germany, Austria & Central Europe revenue was 767 million euros in the first half of 2025, representing a 7.6% organic decline compared to the first half of 2024 with a significant ramp down from a couple of large clients who implemented insourcing strategies. It also stemmed from managed exits from low profitability contracts. That was partially offset by successful fertilization and cross selling at existing clients.

    Operating margin improved by 140 basis points year-on-year despite the non-recurring treatment of some reorganization expenses in the first half of 2024. It reached breakeven in the first half of 2025 thanks to the restructured delivery of existing contract portfolio and benefits from cost-saving initiatives.

    Atos – USA & Canada revenue decreased by 284 million euros year-on-year on a proforma basis. This was driven essentially by 2024 large contract completions and ramp-downs as well as an uncertain macro and political environment. Churn on small size contracts was more than offset by growing activity at existing clients and new contracts during the period.

    Operating margin improved 60 basis points compared to the first half of 2024 despite the material impact from revenue fall thru, thanks to the Genesis-led margin optimization actions already in place. It stood at 70 million euros in the first half of 2025.

    Atos – France revenue reached 591 million euros in the first half of 2025, down 10.8% organically from the first half of 2024, due to high exposure to the recently muted public sector and the impact of financial restructuring on client perception in 2024.

    Operating margin improved by 80 basis points year-on-year thanks to the benefit of cost-cutting initiatives on indirect costs, an improved billability rate despite revenue decline and improving low profitability contract management, quality of delivery and automation.

    Atos – UK & Ireland revenue reached 583 million euros in the first half of 2025, down 29% organically year-on-year mostly as a result of planned large public sector BPO contracts completion in the fourth quarter of 2024.

    Operating margin improved 280 basis points compared to the first half of 2024. In absolute terms, it was stable year-on-year despite the sharp decrease in revenue, thanks to the restructuring of low profitability contracts, successful delivery of new business and an already visible impact from cost-saving initiatives.

    Atos – International Markets revenue was down 16% organically in the first half of 2025, to 561 million euros, mostly driven by softer performance in Asia Pacific, Switzerland and Major events that had benefited from the Olympics in the first half of 2024. That was partially offset by growing revenues in South America.

    Operating margin improved by 240 bps compared to the first half of 2024 and reached 46 million euros in the first half of 2025 (up 7 million year-on-year). The contribution from lost revenue was more than offset by improved productivity, benefits from the Genesis transformation plan and lower one-off costs year-on-year with Olympics-related marketing costs incurred in the first half of 2024.

    Atos – BNN, Benelux and the Nordics revenue stood at 402 million euros in the first half of 2025, down 5.4% organically compared to the first half of 2024 with churn partially offset by growing activity at existing clients.

    Operating margin turned positive in the first half of 2025, to 23 million euros, or 5.6% of revenues. This was driven by the ramp up of higher profitability contracts and positive contribution from the Genesis action plan and continued positive service and project delivery.

    Eviden revenue was 417 million euros in the first half of 2025, down 11.9% organically year-on-year, driven by the anticipated strong seasonality in Advanced Computing (down 10.9% compared to the first half of 2024).
    Operating margin was –33 million euros, compared to -30 million euros in the first half of 2024 again, due to the seasonality in Advanced Computing. Significant revenue and profit recognition is expected in the fourth quarter of 2025. On a full-year basis the business unit is expected to generate positive operating margin.

    Global Structures costs stood at -57 million euros in the first half of 2025, compared to -45 million euros in the first half of 2024, due to the non-recurring treatment of reorganization costs in the first half of 2024 and the UEFA marketing costs incurred centrally in the first half of 2025.

    Update on the Genesis plan execution

    At the Capital Markets Day that was held on May 14, 2025, the Group unveiled “Genesis”, its strategic and transformation plan for the next 4 years. It includes 22 workstreams regrouped under 7 pillars:

    • Growth
    • Human Resources
    • Countries review
    • Portfolio review
    • Gross Margin
    • Cost review
    • Cash

    During the first half of 2025 significant progress was achieved, including the following:

    • Growth transformation: it has now passed the initial phase with a new growth and sales teams operating model deployed in all geographies and centrally. That included the right sizing and upskilling of the teams and sales enablement initiatives as well as prioritization to ensure frontline excellence and support future growth ambition. With that, processes were streamlined and optimized, enabling the sales force to concentrate efforts on meeting client needs. It is anticipated to yield results from the second half onwards
    • Countries review: to sharpen the geographical focus as announced in the Capital Markets Day, the Group exited one country and formally launched disposal processes for additional non-core countries
    • Contract portfolio review: in the first half of 2025, the Group reduced its exposure to low margin contracts (ie contracts with a project margin below 5%) to only three significant ones (vs seven at the end of 2024), and totaling a c.16 million euros negative impact on operating margin compared to c.52 million euros in the first half of 2024
    • Delivery and G&A optimization: the billability rate improved from 76% to 79% during the first half, and the General & Administrative cost base was reduced by 10% compared to the same period last year. Overall, over 50% of the 3-year restructuring envelope of 700 million euros was incurred at the end of June. The total headcount was 69,597 at the end of the period

    Order entry and backlog

    Commercial activity

    Order entry reached €3.3 billion in H1 2025, slightly lower than the reported H1 2024 level, due to:

    • Muted commercial activity in France where significant organizational changes are being implemented to improve commercial efficiency, enrich our offering and secure long term business performance. All other regions delivered roughly flat or growing order entry in the first half of the year
    • The soft market environment observed in the last few months

    Book-to-bill ratio was 83% in the first half of 2025, up from 73% in the same period of 2024. Main contract signatures in the second quarter of 2025 included two 4+ years Digital workplace deals totaling 140 million euros (of which 100 million euros in North America and 40 million euros in the UK), a 5+ years 80 million euros mainframe deal with a North American wholesaler of technology products, a 4+ years 50 million euros Cybersecurity contract in the public sector in Belgium, and two 3+ years digital applications contracts in Europe for a cumulative amount of 90 million euros with a consumer goods player on one side and a public sector body on the other.

    Backlog & commercial pipeline

    At the end of June 2025, the full backlog reached €12 billion representing 1.5 years of revenue.
    The full qualified pipeline amounted to €4.1 billion at the end of June 2025, representing 6.1 months of revenue.

    Net income

    OOI
    Other operating income and expenses amounted to –566 million euros in the first half of 2025, compared to –1,819 million euros in the first half of 2024. It mostly included restructuring and other non-recurring charges in relation to the Genesis transformation plan, as well as litigation provisions.

    Financial income
    Net financial expense was -202 million euros in the first half of 2025, compared to -175 million euros in the first half of 2024, reflecting the new debt structure of the Group and the fair value adjustment of the net debt.

    Tax
    Tax charge stood at -41 million euros in the first half of 2025, compared to -62 million euros in the first half of 2024.

    Net result group share
    As a result of the above net result Group share was a loss of –696 million euros in the first half of 2025, compared to a loss of –1,941 million euros in the first half of 2024.

    Free cash flow

    Free cash flow for the period stood at –96 million euros for the period excluding changes in working capital actions (WCA), reflecting the following items:

    • Operating margin before depreciation and amortization (OMDA) of 309 million euros
    • Capex of –93 million euros, or 2.3% of revenues
    • Leases of –122 million euros
    • Change in working capital requirement (excluding WCA) of 167 million euros, mostly driven by lower activity in the first half of 2025
    • Cash restructuring of –154 million euros, in relation to the Genesis transformation plan
    • Tax paid of -13 million euros
    • Net cash cost of debt of –80 million euros, including 18 million euros of financial income
    • Other items for –109 millions, that included litigation and onerous contracts

    Net debt and debt covenants

    At June 30, 2025, net debt was 1,681 million euros (746 million euros including IFRS 9 debt fair value adjustment), compared to 1,238 million euros as of December 31, 2024 (275 million euros including IFRS 9 debt fair value adjustment), and mainly consisted of:

    • Cash and cash equivalents for 1,364 million euros
    • Borrowings for 3,057 million euros (nominal value, excluding PIK) or 2,186 million euros including IFRS 9 fair value adjustment and PIK

    The new credit documentation requires the Group to maintain:

    • from 31 March 2025, a minimum liquidity level of €650 million, to be verified at the end of each financial quarter
    • from 30 June 2027, as from each half-year end, a maximum level of financial leverage (“Total Net Leverage Ratio Covenant”), which is defined as the ratio of Financial indebtedness (mainly excluding IFRS 16 impacts and IFRS 9 debt fair value treatment) to pre-IFRS 16 OMDA; the ceilings thus applicable will be determined no later than 30 June 2026 with reference to a flexibility of 30% in relation to the Business Plan adopted by the Group at that time; these ceilings will in any event remain between 3.5x and 4.0x.

    As of June 30, 2025, the Group financial leverage ratio (as defined in glossary) was 4.0x.

    Outlook

    The Group confirms its full year 2025 targets:

    • c. 8.5 billion euros revenue3
    • around 4% operating margin
    • net change in cash4 before debt repayment of c. -350 million euros

    The long-term financial trajectory also remains unchanged.

    In 2026, the Group expects to generate positive organic growth and net change in cash4 before debt repayment and M&A.

    In 2028, with the assumption of a disposal of Advanced Computing in FY 2026 and a progressive reduction of its geographic footprint, the Group expects:

    • to grow revenues organically to between 8.5 and 9 billion euros, representing a 5-7% CAGR between 2025 and 2028. Strategic, targeted and disciplined M&A could further increase revenue to up to 9 to 10 billion euros
    • to reach an operating margin of around 10%, supported by cost reduction measures and structural visible growth, partially offset by an acceleration of R&D investments
    • to achieve a leverage ratio below 1.5x net debt/OMDAL5. On the path to an investment grade rating, the Group expects to achieve a BB profile in 2027

    Sale of Advanced Computing

    On July 31, 2025, Atos Group signed a share purchase agreement with the French State for the sale of its Advanced Computing business, excluding Vision AI activities, for an enterprise value (EV) of €410 million, including €110m earn-outs that are based on profitability indicators for fiscal years 2025 (€50 million potential earn-out that should be paid upon closing) and 2026 (€60 million additional potential earn-out). This EV is in line with the confirmatory offer received from the French State on June 2, 2025 which has been approved by Atos Group Board of Directors.

    Atos Advanced Computing business regroups the High-Performance Computing (HPC) & Quantum as well as the Business Computing & Artificial intelligence divisions. The transaction perimeter is expected to generate revenue of circa €0.8 billion in 2025.

    The French State will become the new shareholder of these activities, further supporting the business and its development over the long term.

    Social processes for the signing of the SPA agreement are closed. The transaction is expected to close over H1 2026 once the carveout is completed and relevant authorizations have been received.

    Interim condensed consolidated financial statements

    Atos Group Board of Directors in its meeting held on July 31, 2025, has reviewed the Group interim condensed consolidated financial statements closed at June 30, 2025. The Statutory Auditors have completed their usual limited review of the half-year condensed consolidated financial statements and issued their unqualified report.

    Conference call

    Atos Group’s Management invites you to attend the first half 2025 results conference call on Friday, August 1st, 2025, at 08:00 am (CET – Paris).

    You can join the webcast of the conference via the following link:

    https://edge.media-server.com/mmc/p/mz677p34

    If you want to join the conference by telephone, please register via this link:

    https://register-conf.media-server.com/register/BIc7cb4acc36ee4ddbbe4878cdc98936fa

    Upon registration, you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.

    After the conference, a replay of the webcast will be available on atos.net, in the Investors section.

    Forthcoming events

    October 20, 2025 (After Market Close) Third quarter 2025 revenue

    APPENDIX

    H1 2024 revenue and operating margin at constant scope and exchange rates reconciliation

    For the analysis of the Group’s performance, revenue and OM for H1 2025 is compared with H1 2024 revenue and OM at constant scope and foreign exchange rates. Reconciliation between the H1 2024 reported revenue and OM, and the H1 2024 revenue and OM at constant scope and foreign exchange rates is presented below, by segment.

    H1 2024 revenue H1 2024 published Restatement H1 2024 restated Internal transfers Scope effects Exchange rates effects H1 2024*
    In € million
    ATOS 4,259 234 4,493 -3 -85 -13 4,391
    Germany, Austria & Central Europe 779 62 841 0 -11 0 831
    USA & Canada 949 38 987 0 0 -9 978
    France 686 39 725 -4 -58 0 663
    UK & Ireland 791 17 808 0 0 13 821
    International Markets 675 27 702 0 -16 -17 668
    BNN Benelux & the Nordics 375 49 424 1 0 0 425
    Global Delivery Centers 4 2 6 0 0 0 6
    Eviden 705 -234 471 3 0 0 474
    Global Structures –  – – – – – – 
    Group Total 4,964 0 4,964 0 -86 -13 4,865
    H1 2024 Operating Margin H1 2024 published Restatement H1 2024 restated Internal transfers Scope effects Exchange rates effects H1 2024*
    In € million
    ATOS 175 -1 174 1 -15 12 173
    Germany, Austria & Central Europe -16 2 -14 -2 -2 7 -11
    USA & Canada 97 0 96 0 0 -4 92
    France 14 -2 12 2 -10 5 9
    UK & Ireland 47 0 47 0 0 1 48
    International Markets 40 0 40 0 -3 2 39
    BNN Benelux & the Nordics -4 3 -1 -3 0 3 -1
    Global Delivery Centers -3 -3 -6 3 0 -1 -3
    Eviden -16 2 -14 -2 0 -13 -30
    Global Structures -44 -1 -45 1 0 -1 -45
    Group Total 115 0 115 0 -15 -2 98

    *: at constant scope and June 2025 average exchange rates

    Restatement corresponds to the transfer of Cybersecurity Services from Eviden to Atos.

    Scope effects amounted to €-86 million. They related to the divesture of Worldgrid in France, International Markets (Iberia) and Germany.

    Currency effects negatively contributed to revenue of -13 million. They mostly came from the depreciation of the US dollar, the Brazilian real, the Argentinian peso and the Turkish lira, partially compensated by the appreciation of the British pound.

    Q1 2024 revenue at constant scope and exchange rates reconciliation

    For the analysis of the Group’s performance, revenue for Q1 2025 is compared with Q1 2024 revenue at constant scope and foreign exchange rates.

    Q1 2024 revenue Q1 2024 published Restatement Q1 2024 restated Internal transfers Scope effects Exchange rates effects Q1 2024*
    In € million
    ATOS 2,155 118 2,273 -1 -43 22 2,251
    Germany, Austria & Central Europe 385 30 416 0 -6 0 410
    USA & Canada 474 20 493 0 0 15 509
    France 354 20 375 -2 -30 0 343
    UK & Ireland 410 9 419 0 0 10 430
    International Markets 339 14 352 0 -8 -4 341
    BNN Benelux & the Nordics 190 25 215 0 0 0 215
    Global Delivery Centers 2 1 3 0 0 0 3
    Eviden 324 -118 206 1 0 1 207
    Global Structures 0 0 0 0 0 0 0
    Group Total 2,479 0 2,479 0 -44 23 2,458

    * at constant scope and June 2025 average exchange rates

    Q2 2024 revenue at constant scope and exchange rates reconciliation

    For the analysis of the Group’s performance, revenue for Q2 2025 is compared with Q2 2024 revenue at constant scope and foreign exchange rates.

    Q2 2024 revenue Q2 2024 published Restatement Q2 2024 restated Internal transfers Scope effects Exchange rates effects Q2 2024*
    In € million 
    ATOS 2,105 116 2,220 -2 -42 -35 2,140
    Germany, Austria & Central Europe 394 31 425 0 -5 0 420
    USA & Canada 476 18 494 0 0 -24 470
    France 331 18 350 -2 -28 0 320
    UK & Ireland 380 9 389 0 0 2 391
    International Markets 337 13 350 0 -8 -13 327
    BNN Benelux & the Nordics 184 25 209 0 0 0 210
    Global Delivery Centers 2 1 3 0 0 0 3
    Eviden 381 -116 265 2 0 0 266
    Global Structures – – – – – – –
    Group Total 2,486 0 2,486 0 -42 -36 2,407

    * at constant scope and June 2025 average exchange rates

    Q1 2025 and Q2 2025 revenue according to the new Group reporting structure

    In € million  Q1 2025 Revenue Q1 2024*   Revenue Organic variation* Q2 2025 Revenue Q2 2024*   Revenue Organic variation*  
     
    ATOS 1,861 2,251 -17.3% 1,742 2,140 -18.6%  
    Germany, Austria & Central Europe 385 410 -6.1% 382 420 -9.1%  
    USA & Canada 370 509 -27.3% 324 470 -31.0%  
    France 304 343 -11.4% 287 320 -10.2%  
    UK & Ireland 302 430 -29.6% 280 391 -28.4%  
    International Markets 290 341 -14.8% 271 327 -17.1%  
    BNN Benelux & the Nordics 206 215 -4.4% 196 210 -6.4%  
    Global Delivery Centers 2 3 -10.6% 2 3 -23.9%  
    Eviden 208 207 0.1% 210 266 -21.3%  
    Global Structures – – – – – –  
    Group total 2,068 2,458 -15.9% 1,952 2,407 -18.9%  

    * at constant scope and June 2025 average exchange rates

    H1 2025 consolidated Profit & Loss Account

    (in € million) 6 months ended June 30, 2025 6 months ended June 30, 2024
    Revenue 4,020 4,964
    Personnel expense -2,115 -2,615
    Non-personnel operating expense -1,792 -2,235
    Operating margin 113 115
    % of revenue 2.8% 2.3%
    Other operating income and expense -566 -1,819
    Operating income (loss) -452 -1,704
    % of revenue -11.3% -34.3%
    Net cost of financial debt -162 -73
    Other financial expense -62 -135
    Other financial income 22 33
    Net financial income (expense) -202 -175
    Net income (loss) before tax -654 -1,879
    Tax charge -41 -62
    Net income (loss) -695 -1,941
    Of which:    
    ▪ attributable to owners of the parent -696 -1,941
    ▪ non-controlling interests 1 0

    H1 2025 Consolidated Cash Flow Statement

    in € million 6 months ended
    June 30, 2025    		 6 months ended
    June 30, 2024
    Net income (loss) before tax -654 -1,879
    Depreciation of fixed assets 134 125
    Depreciation of right-of-use 99 138
    Net addition (release) to operating provisions -1 -10
    Net addition (release) to financial provisions 6 28
    Net addition (release) to other operating provisions 199 -55
    Amortization of intangible assets (PPA from acquisitions) 12 29
    Impairment of goodwill and other non-current assets 24 1 570
    Losses (gains) on disposals of non-current assets 3 71
    Net charge for equity-based compensation – 3
    Unrealized losses (gains) on changes in fair value and other – -1
    Net cost of financial debt 162 73
    Interests on lease liability 15 19
    Net cash from (used in) operating activities
    before change in working capital requirement and taxes    		 -3 111
    Tax paid -13 -45
    Change in working capital requirement 43 -1 477
    Net cash from (used in) operating activities 28 -1,411
    Payment for tangible and intangible assets -93 -278
    Proceeds from disposals of tangible and intangible assets – 5
    Net operating investments -93 -273
    Amounts paid for acquisitions and long-term investments – -10
    Net proceeds from disposals of financial investments 1 -1
    Net long-term financial investments 1 -11
    Net cash from (used in) investing activities -92 -284
    Common stock issued 1 –
    Purchase and sale of treasury stock – -1
    Dividends paid* – -12
    Dividends paid to non-controlling interests – -2
    Lease payments -122 -159
    New borrowings – 470
    Repayment of borrowings – -10
    Interests paid -80 -53
    Other flows related to financing activities -6 -77
    Net cash from (used in) financing activities -207 155
    Increase (decrease) in net cash and cash equivalents -271 -1,540
    Opening net cash and cash equivalents 1,739 2,295
    Increase (decrease) in net cash and cash equivalents -271 -1,540
    Impact of exchange rate fluctuations on cash and cash equivalents -104 4
    Closing net cash and cash equivalents 1,364 759

    H1 2025 Balance Sheet

    (in € million) June 30,
    2025    		 December 31, 2024
    ASSETS    
    Goodwill 574 653
    Intangible assets 306 349
    Tangible assets 524 580
    Right-of-use assets 466 550
    Equity-accounted investments 12 12
    Non-current financial assets 98 131
    Deferred tax assets 213 184
    Total non-current assets 2,193 2,458
    Trade accounts and notes receivable 2,190 2,435
    Current taxes 90 102
    Other current assets 1,340 1,510
    Current financial instruments 0 2
    Cash and cash equivalents 1,364 1,739
    Total current assets 4,984 5,788
    TOTAL ASSETS 7,176 8,246
    (in € million) June 30,
    2025    		 December 31, 2024
    LIABILITIES AND SHAREHOLDERS’ EQUITY    
    Common stock 19 18
    Additional paid-in capital 1,887 1,887
    Consolidated retained earnings -1,302 -1,354
    Net income (loss) attributable to the owners of the parent -696 248
    Equity attributable to the owners of the parent -91 799
    Non-controlling interests 1 –
    Total shareholders’ equity -91 799
    Provisions for pensions and similar benefits 664 782
    Non-current provisions 465 345
    Borrowings 2,174 2,089
    Deferred tax liabilities 138 69
    Non-current lease liabilities 438 498
    Other non-current liabilities 4 3
    Total non-current liabilities 3,884 3,787
    Trade accounts and notes payable 971 1,018
    Current taxes 66 75
    Current provisions 386 315
    Current portion of borrowings 11 17
    Current lease liabilities 190 207
    Other current liabilities 1,759 2,028
    Total current liabilities 3,383 3,660
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 7,176 8,246

    Glossary

    Operational capital employed: Operational capital employed comprises net fixed assets and net working capital but excludes goodwill and net assets held for sale.

    Current and non-current assets or liabilities: A current and non-current distinction is made between assets and liabilities on the consolidated statement of financial position. Atos has classified as current assets and liabilities those assets and liabilities that Atos expects to realize, use or settle during its normal cycle of operations, which can extend beyond 12 months following the period end. Current assets and liabilities, excluding the current portion of borrowings, lease liabilities and provisions, and current financial instruments represent the Group working capital requirement.

    DSO: (Days of Sales Outstanding). DSO is the amount of trade accounts receivable (including contract assets) expressed in days of revenue (on a last-in, first-out basis). The number of days is calculated in accordance with the Gregorian calendar.

    Organic growth: Organic growth represents the percent growth of a unit based on a constant scope and exchange rates basis.

    CAGR: The Compound Annual Growth Rate reflects the mean annual growth rate over a specified period of time longer than one year. It is calculating by dividing the value at the end of the period in question by its value at the beginning of that period, raise the result to the power of one divided by the period length, and subtract one from the subsequent result. As an example:

    2019-2021 revenue CAGR = (Revenue 2021 / Revenue 2018) (1/3) -1

    Operating margin: Operating margin equals to External Revenues less personnel and operating expense. It is calculated before Other Operating Income and Expense as defined below.

    Other operating income and expense: 

    Other operating income and expense include:

    • the amortization and impairment of intangible assets recognized as part of business combinations such as customer relationships, technologies and goodwill
    • when accounting for business combinations, the Group may record provisions in the opening statement of financial position for a period of 12 months beyond the business combination date. After the 12-month period, unused provisions arising from changes in circumstances are released through the income statement under “Other operating income and expense”
    • the cost of acquiring and integrating newly controlled entities, including earn out with or without presence conditions
    • the net gains or losses on disposals of consolidated companies or businesses
    • the fair value of shares granted to employees including social contributions
    • the restructuring and rationalization expense relating to business combinations or qualified as unusual, infrequent and abnormal. When a restructuring plan qualifies for Other operating income and expense, the related real estate rationalization & associated costs regarding premises are presented on the same line
    • the curtailment effects on restructuring costs and the effects of plan amendments on defined benefit plans resulting from triggering events that are not under control of Atos management
    • the net gain or loss on tangible and intangible assets that are not part of Atos core-business such as real estate
    • other unusual, abnormal and infrequent income or expense such as major disputes or litigation.

    Gross margin and indirect costs: Gross margin is composed of revenue less the direct costs of goods sold. Direct costs relate to the generation of products and/or services delivered to customers, while indirect costs include all costs related to indirect staff (defined hereafter), which are not directly linked to the realization of the revenue. The operating margin comprises gross margin less indirect costs.

    EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization): for Atos, EBITDA is based on Operating Margin less non-cash items and is referred to as OMDA (Operating Margin before Depreciation and Amortization).

    OMDA (Operating Margin before Depreciation and Amortization) is calculated as follows:

    Operating margin:

    • less – Depreciation of fixed assets (as disclosed in the “financial report”)
    • less – Depreciation of right of use (as disclosed in the “financial report”)
    • less – Net charge (release) of provisions (composed of net charge of provisions for current assets and net charge of provisions for contingencies and losses, both disclosed in the “financial report”)
    • less – Net charge (release) of provisions for pensions (as disclosed in the “financial report”).

    OMDAL: OMDA – lease repayments.

    Gearing: The proportion, expressed as a percentage of net debt to total shareholders’ equity (Group share and minority interests).

    Interest cover ratio: Operating margin divided by the net cost of financial debt, expressed as a multiple.

    Leverage ratio: Net debt (before changes in working capital actions and IFRS 9 fair value adjustment) / OMDAL rolling 12-months.

    Operating income (loss): Operating income (loss) comprises net income (loss) before deferred and current income taxes, net financial income (expense), and share of net profit (loss) of equity-accounted investments.

    Cash flow from operations: Cash flow coming from the operations and calculated as a difference between OMDA, net capital expenditures, lease payment and change in working capital requirement.

    Net cash or net debt: Net cash or net debt comprises total borrowings (bonds, short term and long-term loans, securitization and other borrowings), short-term financial assets and liabilities bearing interest with maturity of less than 12 months, less cash and cash equivalents. Liabilities associated with lease contracts and derivatives are excluded from the net debt.

    Free Cash Flow (FCF): The Free Cash Flow represents the change in net cash or net debt, excluding capital increase, share buyback, dividends paid to shareholders and non-controlling interests, net acquisition or disposal of companies.

    Earnings (loss) per share (EPS): Basic EPS is the net income (loss) divided by the weighted-average number of common shares outstanding during the period. Diluted EPS is the net income (loss) divided by the diluted weighted-average number of common shares for the period (number of shares outstanding + dilutive instruments with dilutive effect).

    Revenue: Revenue related to Atos’ sales to third parties (excluding VAT).

    TCV (Total Contract Value): The Total Value of a Contract at signature (prevision or estimation) over its duration represents the firm order and contractual part of the contract excluding any clause on the decision of the client, as anticipated withdrawal clause, additional option or renewal.

    Order entry/bookings: The TCV, orders or amendments signed during a defined period. When an offer is won (contract signed), the total contract value is added to the backlog and the order entry is recognized.

    Book-to-bill: The Book-to-Bill is the ratio expressed in percentage of the order entry in a period divided by revenue of the same period.

    Backlog/Order cover: The value of signed contracts, orders and amendments that remain to be recognized over their contract lives.

    Pipeline: The value of revenues that may be earned from outstanding commercial proposals issued to clients. Qualified pipeline applies an estimated percentage likelihood of proposal success.

    Direct Staff: Direct staff includes permanent staff and subcontractors, whose work is billable to a third party.

    Indirect staff: Indirect staff includes permanent staff or subcontractors, who are not billable to clients. Indirect staff is not directly involved in the generation of products and/or services delivered to clients.

    Disclaimer

    This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Atos’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2024 Universal Registration Document filed with the Autorité des Marchés Financiers (AMF) on April 10, 2025 under the registration number D.25-0238. Atos does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.

    This document does not contain or constitute an offer of Atos’s shares for sale or an invitation or inducement to invest in Atos’s shares in France, the United States of America or any other jurisdiction. This document includes information on specific transactions that shall be considered as projects only. In particular, any decision relating to the information or projects mentioned in this document and their terms and conditions will only be made after the ongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed and will be subject to general market conditions and other customary conditions, including governance bodies and shareholders’ approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws.

    About Atos Group

    Atos Group is a global leader in digital transformation with c. 70,000 employees and annual revenue of c. € 10 billion, operating in 67 countries under two brands — Atos for services and Eviden for products. European number one in cybersecurity, cloud and high-performance computing, Atos Group is committed to a secure and decarbonized future and provides tailored AI-powered, end-to-end solutions for all industries. Atos is a SE (Societas Europaea) and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Contact

    Investor relations: investors@atos.net

    Individual shareholders: +33 8 05 65 00 75

    Media relations: globalprteam@atos.net

    1 Excluding change in Working Capital Actions

    2 Excluding change in Working Capital Actions

    3 At Dec 31, 2024 currency

    4 At constant currency

    5 Defined as Operating Margin before Depreciations, Amortization and Leases

    Attachment

    • Atos Group – 2025 08 01 – H1 2025 Results – PR

    The MIL Network –

    August 5, 2025

  • MIL-Evening Report: Roch Wamytan: Paris political agreement for New Caledonia ‘not enough’ for Kanaks

    By Lydia Lewis, RNZ Pacific presenter/bulletin editor

    A former New Caledonia Congress president says there are “not enough” benefits for Kanaks in a new “draft” agreement he signed alongside pro and anti-independence stakeholders in France last month.

    Roch Wamytan said that, after 10 days of deadlock discussions in Paris, he failed to secure the pro-independence mandate.

    He told RNZ Pacific that he refused to sign a “final agreement”.

    Instead, he said, he opted for a “draft” agreement, which is what he signed. It has been hailed as “historic” by all parties involved.

    While France maintains its “neutrality”, Wamytan said that at the negotiating table it was two (France and New Caledonia’s pro-France bloc) against one (pro-Kanaky).

    A main point of tension was the electoral law changes, which sparked last year’s civil unrest.

    “We call on France to respect the provisions of international law, which remains our main protective shield until the process of decolonisation and emancipation is completed. Hence, our incessant interventions during negotiations on this subject [electoral law changes],” Wamytan told RNZ Pacific.

    He said it was difficult to understand whether France wanted to decolonise New Caledonia or not.

    Concrete measures
    “We have a lot of concrete measures in this proposed agreement, but the main question is a political question. Where are you [France] going with this? Independence or integration with France?”

    The document, signed in the city of Bougival, involves a series of measures and recognition by France of New Caledonia as a “State” as well as dual citizenship — French and New Caledonian — provided future New Caledonian citizens are French nationals in the first place.

    But this week, New Caledonia’s oldest pro-independence party, the Union Calédonienne (UC), officially rejected the political agreement signed in Paris.

    Wamytan maintains New Caledonia is not France. But the French ambassador to the Pacific has previously told RNZ Pacific New Caledonia is France.

    However, Sonia Backès, the leader of the Caledonian Republicans Party and the president of the Provincial Assembly of Southern Province, says the agreement signed in France is “final”.

    “Roch Wamytan and the pro-independence delegation signed an agreement in Bougival. Since their return to New Caledonia, their political supports have been fiercely critical of the agreement,” her office said via a statement.

    “As a result, radical pro-independence leaders like Roch Wamytan have chosen to renege on their commitment and withdraw their signature. This agreement is final; there is no other viable political balance outside of it.”

    So why did Wamytan sign?
     When asked why he signed the draft agreement when he did not agree with it, he said: “After the 10 days they obliged us to sign something.”

    “We told them that we [didn’t have] the mandate of our parties to sign an agreement, but only a ‘project’ or ‘draft’.

    “It was important for us to return with a paper and to show, to explain, to present, to debate, for the debate of our political party. This is the stage where we are at now, but for the moment, we do not agree with that.

    “We [tried] to explain to [France and pro-France bloc] that we have a problem [with electoral law change being included].

    “This is our problem. So we signed only for one reason . . . that we have to return back home and to explain where we are now, after 10 days of negotiation. [Did we] achieve the objectives, the mandate given by our political parties?”

    He said one thing he wanted to make clear was that what he had signed was not definitive and was now up for negotiation.

    An FLNKS (Kanak and Socialist National Liberation Front) Congress meeting is set down for this weekend with the Union Calédonienne Congress meeting held a weekend prior.

    Wamytan said that it was now up to the FLNKS members to have their say and decide where to next.

    “They will decide if we accept this draft agreement or we reject,” he said.

    “We have two options: we accept with certain conditions, for example, on the question of the right to vote on the electoral rule. Or for the question of the trajectory from here to independence, through a referendum or the framework proposed by President Macron.”

    “This is an important element to discuss with France, but after this round of discussions.”

    He expected further meetings with France after community consultations.

    Communication problem
     Wamytan admitted that the pro-independence negotiators did not communicate clearly about the agreement to their supporters.

    He said after signing the document, President Macron and the pro-France signatories were quick to communicate to the media and their supporters — and the messages filtered to his supporters resulting in anger and frustrations.

    He said the anger has mostly been around the signing itself, with people mistaking the draft proposal as final.

    “The political, pro-Kanaky party were very, very, very angry against us. We did not communicate and this I think is our problem.”

    Bribery allegations
     Wamytan has also dismissed unconfirmed reports that negotiators were bribed to sign a historic deal in Paris.

    He said he was aware of people “chucking accusations of bribery” around, but said they were false.

    “It has never been in the minds of Kanak independence leaders doing such practices,” he said.

    “After the signature of the Matignon Accord 37 years ago, with [FLNKS leader Jean-Marie Tjibaou] and with us after the signature of Nouméa accord in 1998, we heard about the same allegation and some rumours like this.”

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025

  • MIL-Evening Report: NZ ‘lagging behind’ world by failing to recognise Palestinian statehood, says former PM Helen Clark

    By Craig McCulloch, RNZ News acting political editor

    New Zealand is lagging behind the rest of the world through its failure to recognise Palestinian statehood, says Former Prime Minister Helen Clark.

    Canada yesterday became the latest country to announce it would formally recognise the state of Palestine when world leaders met at the UN General Assembly in September.

    It follows recent similar commitments from the France and the United Kingdom.

    On Wednesday, Prime Minister Christopher Luxon suggested the discussion was a distraction and said the immediate focus should be on getting humanitarian aid into Gaza.

    But, speaking to RNZ Midday Report, Clark said New Zealand needed to come on board.

    “We are watching a catastrophe unfold in Gaza. We’re watching starvation. We’re watching famine conditions for many. Many are using the word genocide,” she said.

    “If New Zealand can’t act in these circumstances, when can it act?”

    Elders call for recognition
    “The Elders, a group of world leaders of which Clark is a part, last month issued a call for countries to recognise the state of Palestine, calling it the “beginning, not the end of a political pathway towards lasting peace”.

    Clark said the government seemed to be trying avoid the ire of the United States by waiting until the peace process was well underway or nearing its end.

    “That is no longer tenable,” she said.

    “New Zealand really is lagging behind.”

    Even before the recent commitments from France, Canada and the UK, 147 of the UN’s 193 member states had recognised the Palestinian state.

    Clark said the hope was that the series of recognitions from major Western states would first shift the US position and then Israel’s.

    “When the US moves, Israel eventually jumps because it owes so much to the United States for the support, financial, military and otherwise,” she said.

    “At some point, Israel has to smell the coffee.”

    Surprised over Peters
    Clark said she was “a little surprised” that Foreign Minister Winston Peters had not been more forward-leaning given he historically had strongly advocated New Zealand’s even-handed position.

    On Wednesday, New Zealand signed a joint statement with 14 other countries expressing a willingness to recognise the State of Palestine as a necessary step towards a two-state solution.

    However, later speaking in Parliament, Peters said that was conditional on first seeing progress from Palestine, including representative governance, commitment to non-violence, and security guarantees for Israel.

    “If we are to recognise the state of Palestine, New Zealand wants to know that what we are recognising is a legitimate, representative, viable, political entity,” Peters told MPs.

    Peters also agreed with a contribution from ACT’s Simon Court that recognising the state of Palestine could be viewed as “a reward [to Hamas] for acts of terrorism” if it was done before Hamas had returned hostages or laid down arms.

    Luxon earlier told RNZ New Zealand had long supported the eventual recognition of Palestinian statehood, but that the immediate focus should be on getting aid into Gaza rather than “fragmenting and talking about all sorts of other things that are distractions”.

    “We need to put the pressure on Israel to get humanitarian assistance unfettered, at scale, at volume, into Gaza,” he told RNZ.

    “You can talk about a whole bunch of other things, but for right now, the world needs to focus.”

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025

  • MIL-OSI Canada: Nova Scotia Celebrates Acadian Heritage Month

    Source: Government of Canada regional news

    Throughout August, Nova Scotia will honour more than four centuries of Acadian history, culture and tradition with the second annual Acadian Heritage Month.

    “The Acadian story is deeply woven into the fabric of Nova Scotia,” said Premier Tim Houston at a launch event in Chéticamp today, July 31. “Acadian Heritage Month is a time to celebrate a vibrant culture rooted in perseverance and pride, and to recognize the ongoing contributions Acadian communities make to the life and character of our province.”

    This year’s theme, Honouring Acadian Heritage, Shaping the Future, reflects the strength and resilience of Acadian communities and the important role they continue to play in Nova Scotia today.

    Events celebrating Acadian Heritage Month are taking place across the province, with the Office of Acadian Affairs and Francophonie supporting more than 20 community-led initiatives. Nova Scotians and visitors can experience a variety of activities, including concerts, culinary experiences and community gatherings.

    Quotes:

    “August is a month to celebrate Acadian heritage and share the incredible stories that define our people. The French language, passed down through generations, remains a powerful link to our past and a meaningful part of our future.”
    — Colton LeBlanc, Minister of Acadian Affairs and Francophonie

    “Fédération acadienne de la Nouvelle-Écosse is delighted by the launch of the second edition of Acadian Heritage Month in Nova Scotia. This year’s theme – Honouring Acadian Heritage, Shaping the Future – is an invitation to be proud of our ancestors who paved the way for the Acadie we know today and to be confident in its future.”
    — Denise Comeau Desautels, President, Fédération acadienne de la Nouvelle-Écosse

    Quick Facts:

    • Nova Scotia celebrated its first Acadian Heritage Month in August 2024
    • National Acadian Day will be observed in Nova Scotia on August 15

    Additional Resources:

    Acadian Heritage Month activities: https://tockify.com/patrimoineacadienne/monthly (French only)

    Office of Acadian Affairs and Francophonie:

    Other than cropping, Province of Nova Scotia photos are not to be altered in any way

    MIL OSI Canada News –

    August 5, 2025

  • MIL-OSI United Kingdom: Statement on state threats from Iranian intelligence services: 31 July 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Statement on state threats from Iranian intelligence services: 31 July 2025

    Joint statement of Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the UK and the US on state threats from Iranian intelligence services

    Albania, Austria, Belgium, Canada, Czechia, Denmark, Finland, France, Germany, the Netherlands, Spain, Sweden, the UK and the US condemn the growing number of state threats from Iranian intelligence services in our respective territories.

    We are united in our opposition to the attempts of Iranian intelligence services to kill, kidnap, and harass people in Europe and North America in clear violation of our sovereignty.  These Services are increasingly collaborating with international criminal organisations to target journalists, dissidents, Jewish citizens, and current and former officials in Europe and North America.  This is unacceptable.     

    We consider these types of attacks, regardless of the target, as violations of our sovereignty. We are committed to working together to prevent these actions from happening and we call on the Iranian authorities to immediately put an end to such illegal activities in our respective territories.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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    Updates to this page

    Published 31 July 2025

    MIL OSI United Kingdom –

    August 5, 2025

  • MIL-OSI Europe: “We support the efforts currently being led by the United States in the region to get an immediate ceasefire”

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Published on July 31, 2025

    Excerpts from the interview given by M. Jean-Noël Barrot, Minister for Europe and Foreign Affairs, to France 24 (New York, July 29, 2025)

    You consider the two-state solution to be the only way of achieving peace. So you’re confirming Emmanuel Macron’s desire to recognize a Palestinian State. Why do so only now? What’s changed?

    THE MINISTER – Because the two-state solution, which is the only one likely to bring peace and stability to the region, is in mortal danger, and the conditions had to be created for it to become credible again. That’s why around nine months ago we decided, with Saudi Arabia, to undertake an initiative to create momentum leading those involved – the Palestinian Authority and the region’s Arab countries, but also the whole international community – to make commitments. These commitments are crystallizing in New York today with a statement by the participating countries, which is historic and unprecedented in that the Arab countries – the countries of the region, of the Middle East – are, for the first time, condemning Hamas, condemning 7 October [attacks], calling for the disarmament of Hamas, calling for it to be excluded from participating in any way in Palestine’s governance and clearly voicing their intention to have normalized relations with Israel in the future and be part of a regional organization on the lines of ASEAN in Asia or the OSCE in Europe, alongside Israel and the future State of Palestine. This is a decisive step being taken, made possible by President Macron’s decision, among other things.

    And a moment ago, the United Kingdom announced that it’s going to recognize Palestine as well, if Israel doesn’t make certain commitments. Do you welcome this decision by Prime Minister Keir Starmer? Has momentum been created?

    THE MINISTER – I welcome it. Indeed, the United Kingdom has become part of the movement created by France to recognize the State of Palestine. With these crucial decisions announced by France and the UK, with the combined efforts of the whole international community gathered here in New York, we want to counter the cycle of violence and war and reopen the prospect of peace in the Middle East.

    The United States isn’t participating in the conference taking place in New York at the moment. Regarding your initiative to advocate for a two-state solution, it’s denouncing an unproductive, ill-timed initiative resembling a publicity stunt. Donald Trump also reckoned that the statement by President Macron a little earlier, last Thursday, doesn’t carry any weight. What’s your reply to him?

    THE MINISTER – Firstly, we support the efforts currently being led by the United States in the region to get an immediate ceasefire, the release of all Hamas’ hostages and unhindered access to humanitarian assistance. But to secure a ceasefire, we still have to sketch out what happens after the war and the political horizon that goes with it. That’s the goal of this UN conference that France is chairing with Saudi Arabia. And in the document we’ve just adopted, with the countries that were part of it, we’re mapping out a credible prospect that’s going to make a positive contribution to a ceasefire being reached in Gaza. Moreover, these efforts we’ve led, these concessions the various parties have made will, at some point, enable the United States to resume the Abraham Accords process that it began during President Trump’s first term. We hope this time will come. But in the meantime, it was obviously unthinkable to stand by and do nothing. (…)

    You said in New York that the two-state solution is the only possibility, that there’s no alternative. Given the situation on the ground for the moment, the two-state solution, as you’ve said yourself, is virtually dead. Isn’t there an alternative, though: for this Israeli Government gradually to bring the idea of any Palestinian State to a definitive end, annex the West Bank – in short, make “Greater Israel” a reality?

    THE MINISTER – You’re right, the alternative to the two-state solution is a state of permanent war. And what we’re seeing today is the two-state solution being threatened, on the one hand, by supporters of “Greater Israel”, who want to deny Palestinians the right to self-determination, and attacked, on the other, by supporters of Hamas or others, who believe Palestine extends from the River Jordan to the sea. Through the historic decision President Macron took, which the British Prime Minister has just taken and others will take, through the commitments being made in New York by the Arab countries today, we’re agreeing with everyone else, the side of peace against the side of war. We’re reopening the possibility of a peace that will involve the two States living side by side in peace and security, with security for Israel and the right of the Palestinians to have their own State.

    Yesterday, for the first time, two Israeli NGOs used the term genocide to refer to what’s happening in Gaza. Several countries have described what’s happening in the Palestinian enclave in that way. That’s the case with Spain and South Africa in particular. What’s France’s position today?

    THE MINISTER – The French Government has no position to take on the legal description of the facts. That’s up to the international courts. What I can say is that the situation in Gaza is disastrous. Gaza is now a death trap where, as I said yesterday from the United Nations General Assembly rostrum, bodies bear the scars of famine and minds are ravaged by terror. It’s unacceptable that in humanitarian distribution queues, women and children are targeted and shot down in cold blood. It’s outrageous and it must stop. That’s why the meeting which was held in Brussels today – or will be held in a few minutes’ time – is so important. It will lead the European Union to speak out so that the Israeli Government finally hears our expectations: access for humanitarian aid and an end to the militarized aid-distribution system, payment by the Israeli Government of the €2 billion due to the Palestinian Authority, an end to, and the abandonment of, the pernicious settlement plans in the West Bank, and in particular the E1 plan for 3,400 housing units, which would cut the West Bank in two and strike a fatal blow to the prospect of two States and to the emergence of a State of Palestine./.

    MIL OSI Europe News –

    August 5, 2025

  • MIL-Evening Report: As protesters condemn Western media ‘complicity’, Gaza journalists struggle for survival

    Asia Pacific Report

    Protesters demonstrated outside several major US media outlets in Washington this week condemning their coverage of the genocide in Gaza, claiming they were to blame over misinformation and the worsening catastrophe.

    Banging pots and pans to spotlight the starvation crisis, they accused the media of “complicity in genocide”.

    Banners and placards proclaimed “Stop media complicity in genocide” and “US media manufactures consent for Israel’s crimes”, as the protesters demonstrated outside media offices that included NBC News and Fox News.

    But the irony was that while the protests appeared to have been ignored or overlooked by national media in the US – and certainly in New Zealand, they were strongly reported by at least one global news agency, Turkey’s Anadolu Agensi.

    The protests echoed a series of statements by various news media organisations, such as Agence France-Presse concerned about the safety of their journalists from both under fire and the risk of starvation, and media freedom advocacy groups.

    The Doha-based global television news network Al Jazeera, that has been producing arguably the best and most honest news coverage of Gaza and the occupied West Bank – which earned it being banned last year by both Israel and the Palestinian Authority from reporting inside their territory — called for global action to protect Gaza’s journalists.

    It said in a statement that Isael’s forced starvation of the besieged enclave that threatened Gaza’s entire population, including those “risking their lives to shed light on Israel’s atrocities”.

    Death toll passes 60,000
    On Tuesday this week, the world noted a grim milestone in Gaza, with the Health Ministry announcing that the death toll had surpassed 60,000 (this does not include the tens of thousands of people buried under the rubble and missing, presumed dead).

    Put in perspective, that is one in every 36 people in Gaza killed, and more than 90 people on average slaughtered every day.

    Also, 1157 people have been killed near the notorious Israel and US-backed Gaza “Humanitarian” Foundation food depots condemned as “death traps”, while 154 people have died from starvation, 89 of them children with the numbers rising.


    Israel’s genocide – ‘Everyone in Gaza is starving’       Video: Al Jazeera

    An episode of the weekly media watch programme, The Listening Post, took up the theme as well, criticising the failure of many high profile Western news services from adequately reporting the horror of Israel’s devastating and cruel policies.

    “When trying to stave off starvation becomes part of the job. What it means to be a Palestinian journalist in Gaza. The stories they are determined to tell, the incredible risks they are prepared to take,” said host Richard Gizbert when introducing the programme. He wasted no time firing a few caustic shots.

    Metropolitan police on watch for the pro-Palestinian protesters outside Fox News offices in Washington DC this week. Image: AA screenshot APR

    “What is unfolding in Gaza now has the appearance of a final solution, orchestrated by Israel and the United States, Israel’s other ally: The transformation of parts of the Gaza strip into starvation and concentration camps, a place where famine has been turned into a weapon of war,” he said.

    “Reporting on the reality of this genocide can amount to a death sentence. Palestinian journalists can easily identify with the suffering they are documenting since they too are going hungry.

    “They have been targeted because for [Israeli Prime Minister] Benjamin Netanyahu, like other genocidal leaders before him, starving a population is much easier to do when no one is watching.

    An Al Jazeera reporter ducks for cover as bombs hit a building behind her in a live broadcast from Gaza . . . featured in The Listening Post’s starvation report. Image: AA screenshot APR

    Perpetrator ‘left out’
    “Across Western mainstream media, news outlets have been unable to ignore this story of mass starvation in Gaza. But in report after report, they have made a habit of leaving out a key detail – naming the perpetrators of the famine, Israel.

    “The missing actors, the sanitised language, the use of the passive grammatical voice, it is all part of the playbook for far too many international news outlets and that is exactly what the few Palestinian journalists still standing are out to tell the world.”

    Gizbert explained that “journalists in Gaza already have the world’s toughest assignment”:
    “Job one for almost 22 months now has been survival; job two, telling heartbreaking stories; documenting a genocide while under fire.”

    Hossam Shabat reports on his colleague Anas al-Sharif’s experience at Al Shifa hospital and the starvation of babies in Gaza. Image: Instagram/@hossam_shbat

    Like, for example, Al Jazeera Arabic’s Anas al-Sharif who was reporting live from outside Al Shifa medical complex when a woman behind him collapsed at the hospital’s gate.

    Al-Sharif, who had reported on the genocide of his own people for more than 650 days without rest or complaint, through Israeli occupation airstrikes, drone attacks, and countless “scenes resembling hell”, suddenly could not take it anymore.

    He broke down: “People are falling to the ground from the severity of hunger,” al-Sharif said through his tears. “They need one sip of water. They need one loaf of bread.”

    Al-Sharif has also been threatened by the Israeli military, accusing him of being a “Hamas militant”, an accusation strongly denied by Al Jazeera, denouncing what it called Tel Aviv’s “campaign of incitement” against its reporters in the Gaza Strip.

    Discredited for bias
    Many Western mainstream media – including BBC, CNN, Sky, ITN, and Australia’s public broadcaster ABC — have been repeatedly discredited for their “pro-Israel bias” by scores of journalists who have acted as whistleblowers about the actions of their own news organisations.

    According to a Declassified UK report, for example, the journalists working for a range of outlets from across the political spectrum have “painted a consistent picture of the obstacles faced by reporters who want to humanise Palestinians or scrutinise Israeli government narratives”. The US media is also under attack and has been putting up a lame defence.

    Last week, more than 100 aid groups warned of “mass starvation” throughout Gaza — predictably denied by Israeli government in the face of overwhelming evidence — with their staff severely impacted by shortages and serious implications for journalists already being threatened with targeting by the Israeli military.

    Israel faces growing global pressure over the enclave’s dire humanitarian crisis, where more than two million people have endured 22 months of war. UN Security Council member France has led a group of countries announcing that they plan to recognise the Palestinian state at the UN in September, with United Kingdom, Canada, Malta and Finland among those following with the total number now almost 150 of the 193 UN member states.

    A statement with 111 signatories, including Doctors Without Borders (MSF), Save the Children and Oxfam, warned that “our colleagues and those we serve are wasting away”. The groups called for an immediate negotiated ceasefire, the opening of all land crossings and the free flow of aid through UN-led mechanisms.

    Al Jazeera’s Nour Odeh reported from Amman that the Israeli government had accused the UK of supporting the establishment of a “jihadi” state and of derailing efforts to reach a ceasefire.

    “But really,” she said, “the Israeli media, for example, is describing this as a political tsunami, a realisation of how significant the tide is, and how improbable it is to turn it back to countries withholding recognition because Israel said it doesn’t want it.”

    Calling for sanctions
    She also noted how 31 high-profile Israelis, including the former speaker of the Knesset, a former attorney general, and several recipients of Israel’s highest cultural award, were calling on world governments to impose crippling sanctions on Israel to stop the starvation of Palestinians in Gaza and their expulsion

    “This was taboo just a few days ago and has never really been done before, certainly not at this level of prominence of the signatories,” Odeh added.

    “Israel is starving Gazan journalists into silence,” says the CPJ. Image: CPJ screenshot APR

    The New York-based Committee to Protect Journalists (CPJ) added its voice to the appeal by aid agencies to call for an end to Israel’s starvation of journalists and other civilians in Gaza, backing the plea for states to “save lives before there are none left to save.”

    In a statement on its website, the CPJ accused Israel of “starving journalists into silence”.

    “Israel is starving Gazan journalists into silence. They are not just reporters, they are frontline witnesses, abandoned as international media were pulled out and denied entry,” said CPJ regional director Sara Qudah.

    “The world must act now: protect them, feed them, and allow them to recover while other journalists step in to help report. Our response to their courageous 650 plus-days of war reporting cannot simply be to let them starve to death.”

    ‘Bearing witness’ videos
    Also, last week the CPJ launched a “bearing witness” series of videos from Gaza giving voice to the challenges the journalists have been facing. In the first video, Moath al Kahlout described how his cousin had been shot dead while awaiting humanitarian aid.

    As Israel partially eased its 11-week total blockade of Gaza that began in May, CPJ published the testimony of six journalists who described how “starvation, dizziness, brain fog, and sickness” had threatened their ability to report.

    Among highlights cited by the CPJ:
    • On June 20, Al Jazeera correspondent Anas Al Sharif — the journalist cited earlier in this article — posted online: “I am drowning in hunger, trembling in exhaustion, and resisting the fainting that follows me every moment . . .  Gaza is dying. And we die with it.”
    • Sally Thabet, correspondent for Al-Kofiya satellite channel, told CPJ that she fainted consciousness after doing a live broadcast on July 20 because she had not eaten all day. She regained consciousness in Al-Shifa hospital, where doctors gave her an intravenous drip for rehydration and nutrition. In an online video, she described how she and her three daughters were starving.
    • Another Palestinian journalist, Shuruq As’ad said Thabet had been the third journalist to collapse on air from starvation that week, and posted a photograph of Thabet with the drip in her hand.
    • During a live broadcast on July 20, Al-Araby TV correspondent Saleh Al-Natour said: “We have no choice but to write and speak; otherwise, we will all die.”

    Little of this horrendous state of affairs has made it onto the pages of newspapers, websites of the television screens in the New Zealand mainstream media which seems to have a pro-Israel slant and rarely interviews Palestinian journalists or analysts for balance.

    “Stop media complicity in genocide” says the protest banner in Washington DC. Image: AA screenshot APR

    MIL OSI Analysis – EveningReport.nz –

    August 5, 2025

  • MIL-OSI: Coface SA: 2025 half-year financial report available

    Source: GlobeNewswire (MIL-OSI)

    2025 half-year financial report available

    Paris, 31 July 2025 – 17.35

    Coface announces today that its half-year financial report for 2025 is now available and was filed with the French financial market authority (Autorité des marchés financiers – AMF).

    This report is also on Coface website in “Investor Relations” section (Investor Resources – Coface Group Financial Reports | Coface).

    Copies are available, free of charge and on request by writing to the Company at 1 place Costes et Bellonte, 92270 Bois-Colombes, France.

    The present press release and the full regulated information concerning COFACE SA are available on the Group’s website Financial press releases & Publication announcements | Coface.

    CONTACTS

    ANALYSTS / INVESTORS
    Thomas JACQUET: +33 1 49 02 12 58 – thomas.jacquet@coface.com
    Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – rina.andriamiadantsoa@coface.com

    MEDIA RELATIONS
    Saphia GAOUAOUI: +33 1 49 02 14 91 – saphia.gaouaoui@coface.com
    Adrien BILLET: +33 1 49 02 23 63 – adrien.billet@coface.com

    FINANCIAL CALENDAR 2025
    (subject to change)
    9M-2025 results: 3 November 2025 (after market close)

    FINANCIAL INFORMATION
    This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website: http://www.coface.com/Investors

    For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2025 and our 2024 Universal Registration Document (see part 3.7 “Key financial performance indicators”).

      Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust.
    You can check the authenticity on the website www.wiztrust.com.
     

    COFACE: FOR TRADE
    As a global leading player in trade credit risk management for almost 80 years, Coface helps companies grow and navigate in an uncertain and volatile environment.
    Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets. with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, Factoring.
    Every day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets.
    In 2024, Coface employed +5,200 people and recorded a turnover of ~€1.845 billion.

    www.coface.com

    COFACE SA is listed in Compartment A of Euronext Paris
    ISIN: FR0010667147 / Ticker: COFA

    DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2024 Universal Registration Document filed with AMF on 5 April 2025 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.

    Attachment

    • 2025 07 31 COFACE SA – PR Interim Financial Report H1-2025

    The MIL Network –

    August 5, 2025

  • MIL-OSI: 2025 second-quarter results Solid performance amid a volatile environment Annual Net Cash Flow objective reaffirmed

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), July 31, 2025

    2025 second-quarter results
    Solid performance amid a volatile environment
    Annual Net Cash Flow objective reaffirmed

    • Segment revenue of $274m in Q2 2025, up +6% year-on-year, fueled by Geoscience (GEO) and Sensing & Monitoring (SMO)
    • Segment adjusted EBITDAs of $107m in Q2 2025 (+14% year-on-year) or 39% margin (c.+270 bps). Profitability increase mostly driven by: 1/ the end of vessel penalties at EDA in January 2025 and 2/ good progress on the restructuring plan at SMO
    • Net Cash Flow generation of $30m in Q2 2025
    • Bond maturity extended to October 2030 after end-March 2025 successful refinancing, $125m available RCF1
    • 2025 financial objectives reaffirmed

    Sophie Zurquiyah, Chair and CEO of Viridien: “Viridien delivered a solid performance in the second quarter of 2025. Despite a volatile environment, the Group demonstrated resilience, driven by its primary focus on offshore markets and on leading oil companies. Combined with ongoing internal performance improvements, this resulted in robust year-on-year growth in both segment revenue and margins. From a cash perspective, Viridien generated a solid $30 m in Net Cash Flow during the quarter, reinforcing our confidence in reaching our full-year target of $100 m. The combination of a healthy Geoscience backlog and expected licensing activity toward year-end supports our confidence in maintaining momentum on our deleveraging path.”

    (in millions of $)2 Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment figures            
    Revenue 274 258 +6% 575 532 +8%
    Adjusted EBITDAs 107 94 +14% 250 200 +25%
    IFRS figures            
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating Income 15 52 -72% 71 72 -1%
    Net Income 6 35 -83% -22 32 n.a.
    Net Cash Flow 30 -6 n.a. 10 24 -61%
    Net Debt 997 941 +6% 997 941 +6%

    KEY HIGHLIGHTS PER BUSINESS LINE3

    Data, Digital and Energy Transition (DDE)

    Segment revenue at $181 m in Q2 2025, up +3% year-on-year driven by Geoscience. New business opportunities are emerging in HPC, while low-carbon initiatives are slowing down due to delays in CCUS projects.

    Geoscience (GEO)

    • Revenue at $115 m (+10%)
    • Solid performance mostly driven by work performed in Latin America and Middle East
    • For the past few years, Viridien has seen growing demand for advanced, high-quality, high-end subsurface imaging, especially in the US Gulf, Middle East, North Africa, and South America

    Earth Data (EDA)

    • Revenue at $66 m (-8%), following a strong performance in the first quarter of 2025
    • New OBN projects started in Norway and the US Gulf

    Segment adjusted EBITDAs reached $101 m, up +6% year-on-year, with a margin increase of c.+160 basis points. This performance reflects improving margins in Earth Data, which now fully benefits from the end of the vessel capacity agreement. EDA Cash EBITDA breakeven over the period.

    Sensing and Monitoring (SMO)

    Segment revenue at $93 m in Q2 2025, a solid +14% increase year-on-year. Activity is mostly driven by the Land segment, with strong deliveries of nodal system in South America and cabled systems in the MENA region, in particular. The Marine segment remains subdued. In New Businesses, Infrastructure monitoring is showing double-digit growth, while our Marlin Offshore Logistics solution achieved encouraging initial commercial success, with a contract signed with ONGC.

    Segment adjusted EBITDAs stood at $13 m, more than double last year’s figure, reflecting both revenue growth and the gradual positive impact of ongoing restructuring actions. In margin terms, second-quarter EBITDA reached nearly 13.7%, representing a c.+620 bp improvement year-on-year.

    Segment adjusted Operating income at $7 m vs -$2m in Q2 2024.

    CONSOLIDATED IFRS FIGURES4

    Profit & Loss

    Consolidated IFRS revenue for the second quarter of 2025 came in at $234m, down -26% year-on-year. EBITDAs stood at $68m, down -55%.

    IFRS Net Income reaches $6m, vs $35m in the second quarter of 2024, after accounting for -$53 m of leases and D&A, -$27m net cost of financial debt, +$12m other financial income linked to the partial capitalization of refinancing operation costs and partly offset by forex impacts, and +$6m of deferred tax assets.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Revenue 234 317 -26% 492 566 -13%
    EBITDAs 68 150 -55% 167 230 -27%
    Operating income 15 52 -72% 71 72 -1%
    Equity from investment -1 0 n.a. -1 0 n.a.
    Net cost of financial debt -27 -25 +6% -52 -49 +6%
    Other financial income (loss) 12 -1 n.a. -34 -1 n.s.
    Income taxes 6 -8 n.a. -7 -6 +32%
    Net Income (loss) from continuing operations 5 19 -74% -24 16 n.a.
    Net Income (loss) from discontinued operations 1 16 -92% 2 16 -88%
    Consolidated Net Income (loss) 6 35 -83% -22 32 n.a.

    Cash Flow and Net debt

    Net Cash Flow of $10 m generated in the first half of 2025, including $30 m in the second quarter alone. A solid performance in light of the significant pressure on the Group’s working capital, caused by overdue receivables from Mexican National Oil Company PEMEX (c.$50 m as of June 30, 2025) and largely contributing to the negative -$46m change in working capital over the period.

    Also worth noting that Net Cash Flow in the first half of 2024 included a one-off positive inflow of $38 m, related to the settlement of a litigation with ONGC.

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Income Tax Paid -4 -9 -52% -8 -12 -31%
    Change in Working Capital & Provisions 1 -3 n.a. -46 -3 n.s.
    Other Cash Items -1 0 n.a. -1 0 n.a.
    Cash from Operating Activity 103 78 +32% 195 180 +8%
    Total Capex -58 -57 +1% -119 -115 +3%
    Acquisitions and Proceeds of Assets 1 0 n.a. 1 0 n.s.
    Cash from Investing Activity -56 -56 0% -118 -114 +3%
    Paid Cost of Debt -1 -45 -97% -40 -43 -8%
    Lease Repayment -16 -16 +5% -26 -27 -5%
    Cash from Financing Activity -18 -61 -71% -67 -71 -6%
    Discontinued Operations Acquisitions 0 33 -100% 0 30 -100%
    Net Cash Flow 30 -6 n.a. 10 24 -60%

    Bond maturity significantly extended to October 2030 following the successful refinancing at end-March 2025.
    Ample liquidity in place, including a $125m RCF5.

    (in millions of $) June 30, 2025 Dec. 31, 2024 Change (%) June 30, 2024 Change (%)
    Liquidity 262 392 -33% 430 -39%
    Cash 162 302 -46% 340 -52%
    Undrawn RCF 100 90 +11% 90 +11%
    Gross Debt 1,158 1,223 -5% 1,281 -10%
    Bonds 9876 1,049 -6% 1,126 -12%
    Other borrowings 31 31 -1% 32 -3%
    Accrued interests 25 18 +33% 20 +24%
    Lease liabilities 116 125 -7% 103 +12%
    Net Debt 997 921 +8% 941 +6%

    OUTLOOK

    The oil price environment has remained volatile in recent months but consistently above the $60/bbl threshold, generally considered an industry equilibrium level. In this context, Oil & Gas companies have maintained most of their exploration and development commitments, particularly in Viridien’s core segments.

    Assuming no major disruption to the current environment, Viridien reaffirms its confidence in generating around $100m in Net Cash Flow for 2025, supported by:

    • Geoscience growth, driven by industry-leading technology and a strong backlog;
    • Earth Data late sales, expected to benefit from upcoming lease rounds, combined with disciplined new multi-client engagements;
    • Sensing & Monitoring, fueled by broad land activity.

    ***

    Q2 2025 conference call details

    The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. (CET).

    An English-language conference call is scheduled today at 6:00 p.m. (CET).

    Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

    A replay of the conference call will be available starting the following day, for a period of 12 months, in audio format on the Company’s website www.viridiengroup.com.

    Status of the statutory auditors’ procedures

    The Board of Directors met on July 31, 2025, and closed the consolidated financial statements as of June 30, 2025. Limited review procedures were completed, and an unqualified opinion has been issued by the statutory auditors.

    Next financial information

    2025 third-quarter results: October 30, 2025 (after market close)

    About Viridien

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Disclaimer

    Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 “Risk Management and Internal Control” of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group’s website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.

    Investors contact

    VP Investor Relations and Corporate Finance
    Alexandre Leroy
    alexandre.leroy@viridiengroup.com
    +33 6 85 18 44 31

    APPENDICES

    Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors.

    Key Segment P&L figures

    (in millions of $) Q2 2025 Q2 2024 Change (%) H1 2025 H1 2024 Change (%)
    €/$ exchange rate  1.12 1.08     1.08 1.08   
    Segment Revenue 274 258 +6% 575 532 +8%
    DDE 181 177 +3% 396 362 +9%
    Geoscience 115 105 +10% 226 193 +17%
    Earth Data 66 72 -8% 170 169 +1%
    SMO 93 82 +14% 180 170 +6%
    Land 57 29 +99% 108 74 +47%
    Marine 21 42 -50% 46 75 -39%
    Other 15 11 +36% 26 21 +20%
    Segment EBITDAs 108 91 +19% 250 196 +28%
    Adjusted Segment EBITDAs 107 94 +14% 250 200 +25%
    DDE 101 96 +6% 238 199 +19%
    SMO 13 6 +108% 27 16 +63%
    Corporate and other -7 -8 -15% -15 -16 -8%
    Segment Operating Income 22 26 -16% 87 53 +63%
    Adjusted Segment Operating Income 21 29 -28% 86 57 +50%
    DDE 21 39 -47% 87 74 +17%
    SMO 7 -2 n.a. 15 0 n.s.
    Corporate and other -7 -8 -16% -16 -17 -6%
    EDA Cash EBITDA 0 10 -100% 39 44 -11%

    Other KPIs

    (in millions of $) H1 2025 H1 2024 Change (%)
    Geoscience Backlog 317 246 +29%
    Total Capex 119 115 +3%
    Earth Data Library Net Book Value7 508  440 +15%

    Definition of Alternative Performance Indicators (API)

    In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:

    • Segment revenue: Segment revenue is prepared in accordance with internal management reporting with Earth Data prefunding revenues recorded based upon percentage of completion.
    • Segment EBITDAs: Segment EBITDAs is defined as earnings before interest, tax, income from equity affiliates, depreciation, amortization net of amortization costs capitalized to Earth Data surveys, and cost of share-based compensation for employees and senior executives. The cost of share-based compensation includes the cost of stock options and allotments of performance shares. Segment EBITDAs is calculated based on internal management reporting, in which prefunding revenue from Earth Data surveys is recognized using the percentage of completion method.
    • Adjusted segment EBITDAs: Adjusted segment EBITDAs is Segment EBITDAs adjusted for non-recurring charges and gains.
    • EDA Cash EBITDA: EDA Cash EBITDA is defined as EDA (Earth Data) adjusted segment EBITDAs less investment in EDA surveys for the period, excluding inactivity compensation fees related to the vessel capacity agreement signed between Viridien and Shearwater. This indicator is used exclusively for the EDA activity.

    Reconciliation of API with the condensed interim consolidated financial statements

    The table below outlines the accounting adjustments made in accordance with IFRS 158 requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.

      Q2 2025 H1 2025
    (in millions of $) Segment IFRS 15 adjustments IFRS Segment IFRS 15 adjustments IFRS
    Revenue 274 -40 234 575 -83 492
    EBITDAs 108 -40 68 250 -83 167
    Adjustments -1     0    
    Adjusted EBITDAs 107 -40 67 250 -83 167

    Interim Consolidated Statement of Operations

    (In millions of US$, except per share data) H1 2025 H1 2024
    Operating revenues 491.8 565.8
    Other income from ordinary activities 0.1 0.1
    Total income from ordinary activities 492.0 565.9
    Cost of operations (361.0) (424.1)
    Gross profit 131.0 141.8
    Research and development expenses – net (6.8) (9.6)
    Marketing and selling expenses (16.4) (19.0)
    General and administrative expenses (37.7) (38.0)
    Other revenues (expenses) – net 1.0 (3.6)
    Operating Income (loss) 71.2 71.6
    Cost of financial debt – gross (55.2) (55.1)
    Income from cash and cash equivalents 2.9 5.8
    Cost of financial debt – net (52.3) (49.3)
    Other financial income (loss) (34.4) (0.8)
    Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method (15.4) 21.5
    Income taxes (7.4) (5.6)
    Income (loss) before share of income (loss) from companies accounted for under the equity method (22.8) 15.9
    Net income (loss) from companies accounted for under the equity method (1.0) 0.0
    Net income (loss) from continuing operations (23.8) 15.9
    Net income (loss) from discontinued operations 1.9 16.1
    Consolidated net income (loss) (21.9) 32.0
    Attributable to:    
    Owners of Viridien SA (22.3) 31.6
    Non-controlling interests 0.4 0.4
    Net income (loss) per share9    
    Basic (3.12) 4.43
    Diluted (3.12) 4.41
    Net income (loss) from continuing operations per share8    
    Basic (3.38) 2.17
    Diluted (3.38) 2.16
    Net income (loss) from discontinued operations per share8    
    Basic 0.26 2.25
    Diluted 0.26 2.25

    Interim Consolidated Statement of Financial Position

    (In millions of US$) June 30, 2025 Dec. 31, 2024
    ASSETS    
    Cash and cash equivalents 161.6 301.7
    Trade accounts and notes receivable, net 330.7 339.9
    Inventories and work-in-progress, net 162.1 163.3
    Income tax assets 10.2 22.9
    Other current assets, net 78.8 74.0
    Assets held for sale, net 28.3 24.5
    Total current assets 771.7 926.2
    Deferred tax assets 47.2 43.6
    Other non-current assets, net 9.1 8.9
    Investments and other financial assets, net 24.7 25.7
    Investments in companies under the equity method 5.1 1.1
    Property, plant and equipment, net 205.3 220.6
    Intangible assets, net 589.3 535.4
    Goodwill, net 1,092.8 1,082.8
    Total non-current assets 1,973.5 1,918.1
    TOTAL ASSETS 2,745.2 2,844.3
    LIABILITIES AND EQUITY    
    Financial debt – current portion 63.1 56.9
    Trade accounts and notes payables 113.6 120.9
    Accrued payroll costs 82.5 84.5
    Income taxes payable 12.1 20.4
    Advance billings to customers 20.8 19.2
    Provisions — current portion 17.1 19.7
    Other current financial liabilities 0.0 0.5
    Other current liabilities 218.5 182.5
    Liabilities associated with non-current assets held for sale 2.3 2.4
    Total current liabilities 530.0 507.0
    Deferred tax liabilities 13.2 18.4
    Provisions – non-current portion 33.1 28.8
    Financial debt – non-current portion 1,095.3 1,165.6
    Other non-current financial liabilities 0.0 0.0
    Other non-current liabilities 1.9 1.7
    Total non-current liabilities 1,143.5 1,214.5
    Common stock: 11,201,879 shares authorized and 7,180,449 shares with a nominal value of €1.00 outstanding at June 30, 2025. 8.7 8.7
    Additional paid-in capital 118.7 118.7
    Retained earnings 1,014.7 1,036.5
    Other Reserves (0.9) 55.2
    Treasury shares (20.1) (20.1)
    Cumulative income and expense recognized directly in equity (1.7) (1.1)
    Cumulative translation adjustment (85.0) (113.3)
    Equity attributable to owners of Viridien S.A. 1,034.5 1,084.7
    Non-controlling interests 37.2 38.1
    Total equity 1,071.8 1,122.8
    TOTAL LIABILITIES AND EQUITY 2,745.2 2,844.3

    Interim Consolidated Statement of Cash Flows

    (In millions of US$)   H1 2025 H1 2024
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   (21.9) 32.0
    Less: Net income (loss) from discontinued operations   (1.9) (16.1)
    Net income (loss) from continuing operations   (23.8) 15.9
    Depreciation, amortization and impairment   42.6 47.8
    Earth Data surveys impairment and amortization   59.0 116.3
    Depreciation and amortization capitalized in Earth Data surveys   (7.5) (7.0)
    Variance on provisions   (3.6) (0.3)
    Share-based compensation expenses   1.7 1.8
    Net (gain) loss on disposal of fixed and financial assets   (0.8) 0.1
    Share of (income) loss in companies recognized under equity method   1.0 –
    Other non-cash items   30.0 0.8
    Net cash-flow including net cost of financial debt and income tax   98.5 175.4
    Less: Cost of financial debt   52.3 49.3
    Less: Income tax expense (gain)   7.4 5.6
    Net cash-flow excluding net cost of financial debt and income tax   158.1 230.4
    Income tax paid   (8.3) (12.0)
    Net cash-flow before changes in working capital   149.8 218.4
    Changes in working capital   45.0 (38.2)
    – change in trade accounts and notes receivable   51.0 (17.2)
    – change in inventories and work-in-progress   16.8 11.0
    – change in other current assets   (6.7) 0.9
    – change in trade accounts and notes payable   (3.8) (12.5)
    – change in other current liabilities   (12.3) (20.3)
    Net cash-flow from operating activities   194.8 180.2
           
    INVESTING ACTIVITIES      
    Total capital expenditures (including variation of fixed assets suppliers, excluding Earth Data surveys)   (17.2) (17.8)
    Investment in Earth Data surveys, net cash   (101.6) (97.0)
    Proceeds from disposals of tangible and intangible assets   1.0 0.5
    Dividends received from investments in companies under the equity method   – 0.5
    Variation in other non-current financial assets   2.0 (3.3)
    Net cash-flow from investing activities   (115.7) (117.0)
    FINANCING ACTIVITIES      
    Repayment of long-term debt   (1,074.5) (0.4)
    Total issuance of long-term debt   945.7 –
    Call premium   (21.9) –
    Refinancing transaction costs paid   (3.7)  –
    Lease repayments   (26.1) (27.1)
    Interests paid   (40.4) (43.2)
    Dividends paid and share capital reimbursements:      
    – to owners of Viridien   0 –
    – to non-controlling interests of integrated companies   (1.4) (3.8)
    Net cash-flow from financing activities   (222.4) (74.5)
           
    Effects of exchange rates on cash   3.7 (5.3)
    Net cash flows incurred by discontinued operations   (0.4) 29.6
    Net increase (decrease) in cash and cash equivalents   (140.1) 12.9
    Cash and cash equivalents at beginning of year   301.7 327.0
    Cash and cash equivalents at end of period   161.6 339.9

    1 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    2 Quarterly statements are unaudited and not subject to any review. Only IFRS condensed interim consolidated financial statements were subject to a review report by statutory auditors
    3 Please refer to the “Definitions of Alternative Performance Indicators” in the appendices for explanations of the terms used in this section
    4 The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
    5 $125m RCF of which $25m ancillary guarantee facility (used for $12 m) and $100m fully undrawn
    6 Including a $66m negative foreign exchange impact compared to December 31, 2024
    7 Post IFRS15 and 16

    8 IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien’s segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins
    9 As a result of the July 31, 2024 reverse share split, the calculation of basic and diluted earnings per shares for June 2024 has been adjusted retrospectively. Number of ordinary shares outstanding has been adjusted to reflect the proportionate change in the number of shares

    Attachment

    • Viridien – Q2 2025 results

    The MIL Network –

    August 5, 2025

  • MIL-OSI: Euronext publishes Q2 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Euronext publishes Q2 2025 results

    Euronext’s diversified business drives all-time record results, supported by organic growth, favourable market conditions and disciplined capital allocation.

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 31 July 2025 – Euronext, the leading European capital market infrastructure, today publishes its results for the second quarter of 2025.

    • Q2 2025 revenue and income was up +12.8% to €465.8 million:

    Non-volume-related revenue and income represented 58% of total revenue and income and covered 161% of underlying operating expenses, excluding D&A1:

    • Securities Services revenues grew to €86.2 million (+6.5%), driven by increasing assets under custody, higher settlement activity and double-digit growth in value-added services;
    • Capital Markets and Data Solutions revenue grew to €165.4 million (+12.0%), driven by the continued commercial expansion of Advanced Data Solutions and the strong performance of Euronext Corporate and Investor Solutions and Technology Services, supported by the acquisition of Admincontrol. Like-for-like at constant currencies, revenue grew by +6.5%;
    • Net treasury income grew to €20.0 million (+45.1%), demonstrating the benefits of the Euronext Clearing expansion, high volatility and the internalisation of net treasury income from LCH SA following the derivatives clearing migration in Q3 2024.

    Volume-related revenue was driven by high market volatility in the second quarter:

    • FICC2Markets revenue grew to €87.7 million (+20.1%), driven by another record performance in fixed income trading and clearing and in FX trading;
    • Equity Markets revenue grew to €106.2 million (+9.5%), reflecting a strong quarter in cash equity trading and clearing further boosted by high volatility in the first part of the quarter.
    • Underlying operating expenses excluding D&A were at €168.4 million (+7.9%), in line with Euronext’s 2025 underlying costs guidance. This reflects a step-up in growth investments and the impact of acquisitions, partially offset by a strong cost discipline. Euronext’s underlying operating expense guidance excluding D&A of €670 million excludes Admincontrol, acquired on 13 May 2025.
    • Adjusted EBITDA was €297.3 million (+15.8%) and adjusted EBITDA margin was 63.8% (+1.6pt).
    • Adjusted net income was €204.4 million (+23.8%) and adjusted EPS was €2.02 (+27.0%), supported by received dividends .
    • Reported net income was €183.8 million (+29.7%) and reported EPS was €1.81 (+32.1%).
    • Net debt to adjusted EBITDA3was at 1.8x at the end of June 2025, in line with Euronext’s target range. This ratio reflects the impact of the acquisition of Admincontrol on 13 May 2025 and the dividend payment in May 2025.

    Key figures for the second quarter of 2025:

    in €m, unless stated otherwise Q2 2025 Q2 2024 % var % var l-f-l
    Revenue and income 465.8 412.9 +12.8% +10.5%
    Underlying operational expenses exc. D&A                         (168.4) (156.1) +7.9% +3.9%
    Adjusted EBITDA 297.3 256.8 +15.8% +14.4%
    Underlying EBITDA margin 63.8% 62.2% +1.6pts +2.2pts
    Net income4                          183.8 141.7 +29.7%  
    Adjusted net income4                         204.4 165.2 +23.8%  
    Adjusted EPS (basic, in €) 2.02 1.59 +27.0%  
    Reported EPS (basic, in €) 1.81 1.37 +32.1%  
    • Progress with the delivery of ‘Innovate for Growth 2027’:
      • Euronext has strengthened its development in the Nordics and in the UK with the acquisition of Admincontrol on 13 May 2025. This transaction improves the share of subscription-based revenue and is in line with its ambition to scale up the SaaS offering.
      • Euronext is expanding its footprint in the Nordics and in the power business with the acquisition of Nasdaq Nordic’s power futures business. The final regulatory approval for the acquisition has been granted. Euronext and Nasdaq are now focusing on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 2026.
      • Euronext partnerships with Euroclear5 and Clearstream6 on tri-party collateral management support the broader expansion of its repo clearing services across Europe. In July 2025, Euronext launched the first phase of a multi-year strategy7 to deliver a fully integrated, pan-European clearing model.
      • On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share8,9. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

    Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
    “In the second quarter of 2025, Euronext achieved all-time record revenue and income of €465.8 million, driven by organic growth and acquisitions. This is the fifth consecutive quarter of double-digit topline growth. The strong performance reflects the strength of Euronext’s diversified business model, capable of capturing favourable market conditions and of generating non-volume-related revenue growth.

    We have continued to invest in growth, while we maintained a strong cost discipline. Euronext reached an adjusted EBITDA close to €300 million in Q2 2025, marking a significant +15.8% increase compared to Q2 2024. In Q2 2025, we reached record adjusted EPS of €2.02 per share. Our reported EPS grew by +32.1% compared to Q2 2024, to €1.81 per share.

    We continue to foster the integration and competitiveness of European capital markets via strategic initiatives. With a strong footprint in Italian repo, a growing list of government bond coverage, and the majority of key clearing members already connected, Euronext is well positioned to become the clearing house of choice for European repo.

    Europe shows an unprecedented commitment to establish a Savings and Investments Union, and Euronext is a key player in Europe to accelerate the delivery of this ambition. Since the beginning of the year, Euronext has continued to deploy capital to expand across Europe. We have expanded our presence in the Nordics with the acquisition of Admincontrol and will further strengthen our position with the migration of Nasdaq Nordic’s power futures to Euronext Clearing in Q1 2026.

    The contemplated acquisition of ATHEX would expand our integrated model across Europe to deliver the Savings and Investments Union. We are strongly committed to boosting the development and attractivity of Greek markets internationally and generating efficiencies and competitiveness across the Group.”

    Q2 2025 business highlights

    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue and income 465.8 412.9 +12.8% +10.5%
    Securities Services 86.2 80.9 +6.5% +3.9%
    Capital Markets and Data Solutions                           165.4 147.7 +12.0% +6.5%
    FICC Markets 87.7 73.0 +20.1% +20.9%
    Equity Markets 106.2 97.0 +9.5% +9.5%
    Net treasury income 20.0 13.8 +45.1% +45.1%
    Other income 0.3 0.4 -30.4% -31.1%
    • Non-volume-related revenue
      • Securities Services
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 86.2 80.9 +6.5% +3.9%
    Custody & Settlement 77.5 70.0 +10.8% +7.8%
    Other Post Trade 8.6 10.9 -21.1% -21.1%

    Revenue from Custody and Settlement in Q2 2025 was at €77.5 million, +10.8% compared to Q2 2024. This strong performance was driven by growing Assets under Custody, dynamic settlement instructions and continued double-digit growth in services, supported by the acquisition of Acupay. At the end of the quarter, Assets under Custody amounted to €7.34 trillion, up +4.5% compared to end of Q2 2024. Over 36.9 million instructions were settled via Euronext Securities during the second quarter of 2025, up +15.0% compared to the second quarter of 2024.

    Other Post Trade revenue, which includes membership fees and other non-volume-related clearing fees, was €8.6 million in Q2 2025. The -21.1% decrease compared to Q2 2024 stems from the internalisation of the net treasury income related to Euronext derivatives flows in September 2024, which are now integrated in the net treasury income line.

    • Capital Markets and Data Solutions
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 165.4 147.7 +12.0% +6.5%
    Primary Markets 46.5 45.5 +2.3% +2.5%
    Advanced Data Solutions 65.2 60.6 +7.5% +4.6%
    Corporate and Investor Solutions and Technology Services                             53.7 41.5 +29.2% +13.5%

    Primary Markets revenue was €46.5 million in Q2 2025, an increase of +2.3% compared to Q2 2024. The second quarter recorded slower equity listing activity explained by a volatile environment. Euronext sustained its leading position for equity listing with 6 new listings.

    Advanced Data Solutions revenue was €65.2 million in Q2 2025, up +7.5% compared to Q2 2024. This dynamic performance reflects the contribution of GRSS, strong appetite from retail and growing monetisation of diversified datasets.

    Corporate and Investor Solutions and Technology Services revenue grew by +29.2% in Q2 2025 to €53.7 million. This strong performance reflects the contribution of Admincontrol for half a quarter and double-digit growth of investor solutions and colocation services.

    • Net treasury income

    Net treasury income was at €20.0 million, +45.1% compared to Q2 2024. This reflect the benefit from the Euronext Clearing expansion and the internalisation of treasury income from LCH SA following the completion of the derivatives clearing migration, as well as higher cash collateral posted to the CCP due to the elevated market volatility.

    • Volume-related revenue
      • FICC Markets
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 87.7 73.0 +20.1% +20.9%
    Fixed income trading & clearing 51.7 39.2 +31.9% +31.9%
    Commodities trading & clearing 26.7 26.0 +2.7% +3.1%
    FX trading 9.3 7.8 +18.9% +25.2%

    Fixed income trading and clearing revenue reached €51.7 million in Q2 2025, up +31.9% compared to Q2 2024, driven by record fixed income trading activity supported by favourable market conditions.

    Commodities10 trading and clearing revenue reached €26.7 million in Q2 2025, up +2.7% compared to Q2 2024, reflecting record intraday power trading volumes and softer agricultural commodity trading and clearing.

    FX trading revenue was up +18.9%, at €9.3 million in Q2 2025, reflecting record trading volumes in April 2025, which outbalanced the negative currency impact of the USD.

    • Equity Markets
    In €m Q2 2025 Q2 2024 % var % var l-f-l
    Revenue 106.2 97.0 +9.5% +9.5%
    Cash equity trading & clearing 93.4 80.4 +16.2% +16.2%
    Financial derivatives trading & clearing 12.8 16.6 -22.9% -22.9%

    Cash equity trading and clearing revenue11 was €93.4 million in Q2 2025, up +16.2% compared to Q2 2024 driven by exceptional market volatility. Euronext recorded average daily cash trading volumes of €13.4 billion, up +21.2% compared to Q2 2024. Euronext reached solid average revenue capture on cash trading at 0.52 bps for the second quarter of 2025, despite higher volumes and larger average order size compared to Q2 2024. Euronext market share on cash equity trading averaged 63.5% in Q2 2025.

    Financial derivatives trading and clearing revenue was €12.8 million in Q2 2025, -22.9% compared to Q2 2024. This mostly reflects lower volatility and the decrease of the average clearing fees. Following the clearing migration, certain clearing fees are now reported in the line Other Post Trade revenues, and as such not fully comparable with Q2 2024.

    Q2 2025 financial performance

    In €m, unless stated otherwise Q2 2025 Q2 2024 % var % var l-f-l
    Revenues and income 465.8 412.9 +12.8% +10.5%
    Underlying operating expenses excl. D&A                        (168.4) (156.1) +7.9% +3.9%
    Adjusted EBITDA 297.3 256.8 +15.8% +14.4%
    Adjusted EBITDA margin 63.8% 62.2% +1.6pts +2.2pts
    Operating expenses excl. D&A (171.8) (162.9) +5.5% +1.6%
    EBITDA 293.9 249.9 +17.6% +16.2%
    Depreciation & amortisation (48.2) (47.9) +0.5% +1.0%
    Total expenses (220.0) (210.9) +4.3% +1.2%
    Adjusted operating profit 274.7 234.8 +17.0% +15.7%
    Operating profit 245.8 202.0 +21.7%  
    Net financing income / (expense) (5.7) 3.5 N/A  
    Results from equity investments 24.5 1.2 N/A  
    Profit before income tax 264.5 206.7 +28.0%  
    Income tax expense (68.1) (55.7) +22.3%  
    Minority interests (12.6) (9.2) +36.3%  
    Net income 183.8 141.7 +29.7%  
    Adjusted net income 204.4 165.2 +23.8%  
    Adjusted EPS (basic, in €) 2.02 1.59 +27.0%  
    Reported EPS (basic, in €) 1.81 1.37 +32.1%  
    Adjusted EPS (diluted, in€) 2.01 1.59 +26.4%  
    Reported EPS (diluted, in€) 1.81 1.36 +33.1%  
    • Q2 2025 adjusted EBITDA

    Underlying operating expenses excluding D&A1 were at €168.4 million (+7.9%). The increase compared to Q2 2024 reflects investments in growth and the impact of acquisitions performed in 2025, partially offset by cost discipline.
    As a result of a double digit growth in revenue, adjusted EBITDA for the quarter reached €297.3 million, up +15.8% compared to Q2 2024. This represents an adjusted EBITDA margin of 63.8%, up +1.6pts vs. Q2 2024. On a like-for-like basis at constant currencies, adjusted EBITDA grew by +14.4% compared to Q2 2024.
    Q2 2025 non-underlying operating expenses excluding D&A amounted to €3.4 million, mostly related to the integration of recent acquisitions. As a consequence, reported EBITDA was at €293.9 million, up +17.6% compared to Q2 2024.

    • Q2 2025 net income, share of the parent company shareholders

    Depreciation and amortisation accounted for €48.2 million in Q2 2025, +0.5% more than Q2 2024. PPA related to acquired businesses accounted for €19.1 million. Adjusted operating profit was €274.7 million, up +17.0% compared to Q2 2024. Euronext reported a net financing expense of €5.7 million in Q2 2025, compared to €3.5 million net financing income in Q2 2024. The variation reflects decreasing interest rates, lower cash position after the redemption of the €500 million bond and the recognition of non-cash interest expense related to the convertible bonds.

    Income tax for Q2 2025 was €68.1 million. This translated into an effective tax rate of 25.7% for the quarter, compared to 27.0% in Q2 2024. The tax rate was positively impacted by the tax-exempt €24.5 million dividend received by Euroclear. Share of non-controlling interests amounted to €12.6 million, correlated with the strong performance of MTS and Nord Pool.

    As a result, the reported net income, share of the parent company shareholders, increased by +29.7%for Q2 2025 compared to Q2 2024, to €183.8 million. This represents a reported EPS of €1.81 basic and €1.81 diluted. Adjusted net income, share of the parent company shareholders, was up +23.8% to €204.4 million. Adjusted EPS (basic) was €2.02 and adjusted EPS (diluted) was €2.01. The increase in EPS reflects higher profit and a lower number of outstanding shares over the second quarter of 2025 compared to Q2 2024. The weighted number of shares used over the second quarter of 2025 was 101,374,346 for the basic calculation and 102,130,793 for the diluted calculation, compared to 103,653,544 and 103,986,292 respectively over the second quarter of 2024. The difference in share count is due to the share repurchase programme executed by Euronext and the consideration of the convertible bonds under IAS 33.

    In Q2 2025, Euronext reported a net cash flow from operating activities of €135.0 million, compared to €111.5 million in Q2 2024, reflecting higher profit before tax and higher income tax paid in Q2 2025. Excluding the impact of working capital from Euronext Clearing and Nord Pool CCP activities, net cash flow from operating activities accounted for 52.3% of EBITDA in Q2 2025.

    Q2 2025 corporate highlights since publication of the first quarter 2025 results on 14 May 2025

    • Euronext received regulatory approval for the acquisition of Nasdaq Nordic power futures

    On 4 June 2025, Euronext received regulatory approval for the extension of Euronext Clearing to power derivatives under Article 15 of EMIR. With this final approval, all regulatory approvals for the acquisition of Nasdaq Nordic’s power futures business have been granted. Euronext and Nasdaq continue to focus on the upcoming migration of open interest from Nasdaq Clearing to Euronext Clearing in Q1 202612.

    • Partnership with Clearstream on collateral management

    On 16 June 2025, Euronext and Clearstream announced the start of a new partnership13 to advance the continued development of Euronext Clearing’s collateral management services across repo and other asset classes.
    As part of this initiative, Clearstream will serve as a triparty agent (TPA) for Euronext Clearing, facilitating advanced collateral management capabilities. Clients will benefit from automated, flexible and operationally streamlined solutions that enhance margin and balance sheet optimisation. Clearstream will act as an independent third party, handling the collateral selection, valuation and substitution to ensure compliance with eligibility criteria while minimising operational complexities. In addition, Clearstream will manage settlement and custody services, provide robust regulatory reporting, and support liquidity and risk management objectives. The go-live of this enhanced service offering is scheduled for November 2025.

    • Euronext successfully launched its inaugural convertible bonds issuance

    On 22 May 2025, Euronext announced the success of its offering of senior unsecured bonds due 2032 convertible into new shares and/or exchangeable for existing shares of the Company (“OCEANEs”) (the “Bonds”), by way of a placement to qualified investors only, for a nominal amount of €425 million (the “Offering”)14. The Bonds were issued with a denomination of €100,000 each (the “Principal Amount”), and will be convertible and/or exchangeable into new and/or existing shares of Euronext (the “Shares”) and will pay a fixed coupon at a rate of 1.50% per annum, payable semi-annually in arrear on 30 May and 30 November of each year (or on the following business day if this date is not a business day), and for the first time on 30 November 2025. The initial conversion price of the Bonds is set at €191.1654. Unless previously converted, exchanged, redeemed or purchased and cancelled, the Bonds will be redeemed at par on 30 May 2032 (or on the following business day if such date is not a business day) (the “Maturity Date”).

    • Euronext successfully migrated Italian markets to a harmonised clearing framework

    On 30 June 2025, Euronext completed the migration of the Italian derivatives and cash equity markets to its Core Clearing System. Euronext is now clearing all its financial derivatives, commodities and cash equities markets through a single, streamlined, harmonised clearing gateway. This important milestones delivers to Euronext Clearing clients further material operational and risk management efficiencies, which optimise their total cost of trading on Euronext markets.

    Corporate highlights since 1 July 2025

    • Euronext launched the first phase of its strategic multi-year Repo expansion initiative15

    On 8 July 2025, Euronext announced the launch of its initiative to expand access, improve collateral usage and position Euronext as a leading Central Counterparty (CCP) for European repo markets. As a cornerstone of Euronext’s strategic plan announced in November 2024, the Repo initiative sets in motion Euronext’s vision to build a fully integrated, pan-European post-trade infrastructure. Euronext now offers repo clearing for Spanish, Portuguese and Irish government bonds, alongside its established Italian offering. For the first time, international firms can join the platform with seamless onboarding and scalable settlement operations.

    • Euronext to launch voluntary share exchange offer for all ATHEX shares

    On 31 July 2025, Euronext announced the submission of a voluntary share exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”), in exchange for newly issued Euronext shares, at a fixed conversion rate of 20.000 ATHEX ordinary shares for each new Euronext share16,17. Based on Euronext’s closing price of €142.7 as of 30 July 2025, the proposed Offer values ATHEX at €7.14 per share and the entire issued and to be issued ordinary share capital of ATHEX at approximately €412.8 million on a fully diluted basis. The Board of Directors of ATHEX is unanimously supportive of the Offer to ATHEX shareholders and entered into a cooperation agreement with Euronext.

    The combination between Euronext and ATHEX is in line with Euronext’s ambition to integrate European capital markets. The combined Group will foster harmonisation of European capital markets on a unified technology. Greek markets would benefit from increased visibility towards global investors as part of the leading single liquidity pool in Europe.

    Euronext expects the combination to deliver €12 million annual run-rate cash synergies by the end of 2028, with implementation costs related to these synergies expected at €25 million. The Offer is in line with Euronext’s investment criteria of ROCE > WACC in year 3 to 5 after the acquisition and is expected to be accretive for Euronext shareholders after delivery of synergies in year 1.

    The Offer is expected to be open for acceptance, subject to regulatory approvals, from Q4 2025. The transaction is expected to be completed by the end of 2025.

    Results Webcast

    A webcast will be held on Friday, 1 August 2025, at 09:00 CEST (Paris time) / 08:O0 BST (London time):

    For the live webcast go to: Webcast

    The webcast will be available for replay after the call at the webcast link and on the Euronext Investor Relations webpage.

    Contacts

    ANALYSTS & INVESTORS – ir@euronext.com

    Investor Relations        Aurélie Cohen                 

            Judith Stein        +33 6 15 23 91 97

    MEDIA – mediateam@euronext.com 

    Europe        Aurélie Cohen         +33 1 70 48 24 45 

            Andrea Monzani         +39 02 72 42 62 13 

    Belgium        Marianne Aalders         +32 26 20 15 01                 

    France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

    Ireland        Catalina Augspach        +39 02 72 42 62 13                 

    Italy         Ester Russom         +39 02 72 42 67 56                 

    The Netherlands        Marianne Aalders         +31 20 721 41 33                 

    Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

    Portugal         Sandra Machado        +351 91 777 68 97                

    About Euronext 
    Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.
    As of June 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
    For the latest news, go to euronext.com or follow us on X and LinkedIn.

    Disclaimer

    This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. The figures in this document have not been audited or reviewed by our external auditor. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

    © 2025, Euronext N.V. – All rights reserved. 

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    Appendix

    The figures in this Appendix have not been audited or reviewed by our external auditor.

    Non-IFRS financial measures

    For comparative purposes, the company provides unaudited non-IFRS measures including:

    • Operational expenses excluding depreciation and amortisation, underlying operational expenses excluding depreciation and amortisation;
    • EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin.

    Non-IFRS measures are defined as follows:

    • Operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses;
    • Underlying operational expenses excluding depreciation and amortisation as the total of salary and employee benefits, and other operational expenses, excluding non-recurring costs;
    • Underlying revenue and income as the total of revenue and income, excluding non-recurring revenue and income;
    • Non-underlying items as items of revenue, income and expense that are material by their size and/or that are infrequent and unusual by their nature or incidence are not considered to be recurring in the normal course of business and are classified as non-underlying items on the face of the income statement within their relevant category in order to provide further understanding of the ongoing sustainable performance of the Group. These items can include:
      • integration or double run costs of significant projects, restructuring costs and costs related to acquisitions that change the perimeter of the Group;
      • one-off finance costs, gains or losses on sale of subsidiaries and impairments of investments:
      • amortisation and impairment of intangible assets which are recognised as a result of acquisitions and mostly comprising customer relationships, brand names and software that were identified during purchase price allocation (PPA);
      • tax related to non-underlying items.
    • Adjusted operating profit as the operating profit adjusted for any non-underlying revenue and income and non-underlying costs, including PPA of acquired businesses;
    • EBITDA as the operating profit before depreciation and amortisation;
    • Adjusted EBITDA as the adjusted operating profit before depreciation and amortisation adjusted for any non-underlying operational expenses excluding depreciation and amortisation;
    • EBITDA margin as EBITDA divided by total revenue and income;
    • Adjusted EBITDA margin as adjusted EBITDA, divided by total revenue and income;
    • Adjusted net income, as the net income, share of the parent company shareholders, adjusted for any non-underlying items and related tax impact.

    Non-IFRS financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements.

    Consolidated income statement

      Q2 2025 Q2 2024
    In € million, unless stated otherwise Underlying Non-
    underlying    		 Reported Underlying Non-
    underlying    		 Reported
    Revenues 465.8 – 465.8 412.9 – 412.9
    Securities Services 86.2 – 86.2 80.9 – 80.9
    Custody and Settlement 77.5 – 77.5 70.0 – 70.0
    Other Post Trade 8.6 – 8.6 10.9 – 10.9
    Capital Markets and Data Solutions 165.4 – 165.4 147.7 – 147.7
    Primary Markets 46.5 – 46.5 45.5 – 45.5
    Advanced Data Solutions 65.2 – 65.2 60.6 – 60.6
    Corporate and Investor Solutions
    and Technology Services    		 53.7 – 53.7 41.5 – 41.5
    FICC markets 87.7 – 87.7 73.0 – 73.0
    Fixed income trading and clearing 51.7 – 51.7 39.2 – 39.2
    Commodities trading and clearing 26.7 – 26.7 26.0 – 26.0
    FX trading 9.3 – 9.3 7.8 – 7.8
    Equity markets 106.2 – 106.2 97.0 – 97.0
    Cash equity trading and clearing 93.4 – 93.4 80.4 – 80.4
    Financial derivatives trading and clearing 12.8 – 12.8 16.6 – 16.6
    Net treasury income 20.0 – 20.0 13.8 – 13.8
    Other income 0.3 – 0.3 0.4 – 0.4
    Operating expenses excl. D&A (168.4) (3.4) (171.8) (156.1) (6.8) (162.9)
    Salaries and employee benefits (92.2) (1.1) (93.3) (79.9) (0.4) (80.2)
    Other operational expenses, of which (76.3) (2.2) (78.5) (76.2) (6.5) (82.7)
    System & Communication (26.5) (0.2) (26.7) (24.7) (1.1) (25.9)
    Professional services (17.7) (2.2) (19.9) (13.6) (4.4) (17.9)
    Clearing expense (0.2) – (0.2) (9.9) – (9.9)
    Accommodation (4.5) 0.1 (4.4) (4.1) (0.3) (4.4)
    Other operational expenses (27.3) – (27.4) (23.9) (0.7) (24.6)
    EBITDA 297.3 (3.4) 293.9 256.8 (6.8) 249.9
    EBITDA margin 63.8%   63.1% 62.2%   60.5%
    Depreciation & amortisation (22.6) (25.6) (48.2) (21.9) (26.0) (47.9)
    Total expenses (191.0) (29.0) (220.0) (178.0) (32.8) (210.9)
    Operating profit 274.7 (29.0) 245.8 234.8 (32.8) 202.0
    Net financing income/(expense) (5.7) – (5.7) 3.5 – 3.5
    Results from equity investment 24.5 – 24.5 0.1 1.2 1.2
    Profit before income tax 293.5 (29.0) 264.5 238.4 (31.7) 206.7
    Income tax expense (75.6) 7.5 (68.1) (64.0) 8.3 (55.7)
    Non-controlling interests (13.4) 0.8 (12.6) (9.2) (0.1) (9.2)
    Net income
    share of the parent company shareholders    		 204.4 (20.6) 183.8 165.2 (23.4) 141.7
    EPS (basic, in €) 2.02   1.81 1.59   1.37
    EPS (diluted, in €) 2.01   1.81 1.59   1.36

    Adjusted EPS definition

     In € million, unless stated otherwise Q2 2025 Q2 2024
    Net income reported                183.8                 141.7
    EPS reported (in €) 1.81 1.37
    Adjustments for non-underlying items included in:    
    Operating expenses exc. D&A (3.4) (6.8)
    Depreciation and amortisation (25.6) (26.0)
    Results from equity investments                   –                  1.2
    Non-controlling interest 0.8 (0.1)
    Tax related to adjustments                       7.5                       8.3
    Adjusted net income                 204.4                  165.2
    Adjusted EPS (in €)                     2.02                     1.59

    Consolidated comprehensive income statement

    In € million Q2 2025 Q2 2024
    Profit for the period 196.4 151.0
         
    Other comprehensive income    
    Items that may be reclassified to profit or loss:    
    – Exchange differences on translation of foreign operations    (53.6) 15.2
    – Income tax impact on exchange differences on translation of foreign operations    7.4 (1.9)
    – Gains and losses on cash flow hedges    (2.2) –
    – Change in value of debt investments at fair value through other comprehensive income –    0.3
    – Income tax impact on change in value of debt investments at fair value through
    other comprehensive income    		    –    (0.1)
         
    Items that will not be reclassified to profit or loss:    
    – Change in value of equity investments at fair value through other comprehensive income    46.1 6.5
    – Income tax impact on change in value of equity investments at fair value through
    other comprehensive income    		 (0.4) (1.0)
    – Remeasurements of post-employment benefit obligations    1.9 1.9
    – Income tax impact on remeasurements of post-employment benefit obligations – (0.2)
    Other comprehensive income for the period, net of tax (0.8) 20.8
    Total comprehensive income for the period 195.6 171.8
         
    Comprehensive income attributable to:    
    – Owners of the parent 184.0 162.5
    – Non-controlling interests 11.6 9.3

    Consolidated statement of financial position

    In € million 30 June 2025 31 March 2025
    Non-current assets    
    Property, plant and equipment 103.0 107.4
    Right-of-use assets 85.1 88.2
    Goodwill and other intangible assets18 6,586.7 6,096.5
    Deferred income tax assets 24.0 29.1
    Investments in associates and joint ventures 0.8 0.8
    Financial assets at fair value through OCI 403.1 357.0
    Other non-current assets 3.4 3.4
    Total non-current assets 7,206.2 6,682.4
         
    Current assets    
    Trade and other receivables 463.8 574.2
    Income tax receivable 32.2 17.5
    Derivative financial instruments 0.1 2.2
    CCP clearing business assets 348,903.3 341,647.6
    Other current financial assets 59.3 59.5
    Cash & cash equivalents 919.3 1,642.3
    Total current assets 350,378.1 343,943.3
    Total assets 357,584.2 350,625.7
         
    Equity    
    Shareholders’ equity 4,153.5 4,224.6
    Non-controlling interests 144.3 161.7
    Total equity 4,297.9 4,386.3
         
    Non-current liabilities    
    Borrowings 2,311.7 2,537.5
    Lease liabilities 69.8 71.7
    Other non-current financial liabilities 3.5 3.5
    Deferred income tax liabilities 488.4 495.1
    Post-employment benefits 21.2 23.0
    Contract liabilities 53.3 54.2
    Other provisions 7.1 7.0
    Total non-current liabilities 2,955.0 3,192.1
    Current liabilities    
    Borrowings 602.7 524.0
    Lease liabilities 22.2 21.9
    Other current financial liabilities1 103.5 –
    CCP clearing business liabilities 348,949.3 341,695.3
    Income tax payable 68.8 99.3
    Trade and other payables 422.5 526.5
    Contract liabilities 158.5 176.2
    Other provisions 3.7 4.1
    Total current liabilities      350,331.3 343,047.3
    Total equity and liabilities     357,584.2 350,625.7

    Consolidated statement of cash flows

    In € million Q2 2025 Q2 2024
    Profit before tax 264.5 206.7
    Adjustments for:    
    – Depreciation and amortisation 48.2 47.9
               – Share-based payments 5.6 2.9
    -Results from equity investments (24.5) –
    -Gain on sale of associate – (1.2)
    -Share of profit from associates and joint ventures – (0.1)
               – Changes in working capital (43.8) (67.9)
    Cash flow from operating activities 250.0 188.4
    Income tax paid (115.1) (76.9)
    Net cash flows from operating activities 135.0 111.5
         
    Cash flow from investing activities    
    Business combinations, net of cash acquired                                     (400.4) (38.5)
    Proceeds from sale of associate –                              0.9
    Purchase of current financial assets (0.4) (0.6)
    Redemption of current financial assets (0.2) 17.7
    Purchase of property, plant and equipment                                    (3.2)                               (5.0)
    Purchase of intangible assets (28.1) (15.8)
    Interest received                                     7.3 11.3
    Asset acquisitions (27.7) –
    Proceeds from sale of property, plant, equipment and intangible assets – (0.1)
    Dividends received from equity investments 24.5 –
    Dividends received from associates and joint ventures                                         – 0.1
    Net cash flow from investing activities (428.2) (30.0)
         
    Cash flow from financing activities    
    Proceeds from borrowings, net of transaction fees 846.2 –
    Repayment of borrowings, net of transaction fees (925.0) –
    Interest paid (29.2) (28.2)
    Payment of lease liabilities (3.4) (4.2)
    Transactions in own shares 0.0 (10.0)
    Withholding tax paid at vesting of shares (1.9) (1.2)
    Dividends paid to the company’s shareholders (293.4) (257.3)
    Dividends paid to non-controlling interests (18.2) (18.9)
    Net cash flow from financing activities (424.9) (319.6)
         
    Total cash flow over the period (718.1) (238.1)
    Cash and cash equivalents – Beginning of period 1,642.3 1,609.6
    Non-cash exchange gains/(losses) on cash and cash equivalents (4.9) 4.6
    Cash and cash equivalents – End of period 919.3 1,376.0

    Business indicators for the second quarter of 2025

    • Securities Services
    Custody and Settlement Q2 2025 Q2 2024 % var
    Number of settlement instructions over the period 36,946,162 32,114,794 +15.0%
    Assets under Custody (in €bn), end of period 7,344 7,030 +4.5%
    • Capital Markets
    Primary Markets Q2 2025 Q2 2024 % var
    Number of issuers on Equities – Euronext 1,766 1,862 -5.0%
    Number of issuers on Equities – SMEs 1,371 1,469 -7.0%
    Number of listed Funds 2,179 2,347 -7.0%
    Number of listed ETFs 4,322 3,885 +11.0%
    Number of listed Bonds 57,367 58,147 -1.0%
    Capital raised on primary and secondary market (in €m)      
    Number of new equity listings 13 17  
    Money raised – New equity listings (including over-allotment) 155 3,403 -95.0%
    Money raised – Follow-ons on equities 4,457 2,362 +89.0%
    Money raised – Bonds 316,817 304,686 +4.0%
    • FICC Markets
    Fixed income trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Transaction value (in €m, single counted)      
    MTS      
    ADV MTS Cash 59,182 36,287 +63.0%
    TAADV MTS Repo 612,821 448,618 +37.0%
    Other fixed income      
    ADV fixed income 1,588 1,689 -6.0%
    Number of transactions and lots cleared (double counted)      
    Bonds – Wholesale (nominal value in €bn) 8,571 6,918 +23.9%
    Bonds – Retail (number of contracts) 3,313,182 3,658,240 -9.4%
    Commodities trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 91 91 –
    Power volume (in TWh) – ADV Day-ahead Power Market 2.53 2.53 0.0%
    Power volume (in TWh) – ADV Intraday Power Market          0.56 0.36 +58.0%
    Derivatives volume (in lots)      
    Number of trading days 62 63 –
    Commodity 6,746,377 7,898,126 -14.6%
    Futures 6,473,697 7,197,681 -10.1%
    Options 272,680 700,445 -61.1%
    FX trading Q2 2025 Q2 2024 % var
    Number of trading days 65 65 –
    FX volume (in $m, single counted)      
    Total Euronext FX 2,025,494 1,783,772 +13.6%
    ADV Euronext FX 31,161 27,443 +13.6%
    • Equity Markets
    Cash equity trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Number of transactions (buy and sell) (reported trades included)      
    Total Cash Market 186,375,884 152,354,170 +21.5%
    ADV Cash Market 3,006,063 2,434,193 +23.5%
    Transaction value (€ million, single counted)      
    Total Cash Market 831,391 696,882 +19.3%
    ADV Cash Market 13,410 11,062 +21.2%
    Shares (number of transactions and lots cleared – single counted) 75,751,603 55,211,959 +37.2%
    Financial derivatives trading and clearing Q2 2025 Q2 2024 % var
    Number of trading days 62 63 –
    Derivatives Volume (in lots) – Equity 30,293,449 35,317,815 -14.2%
    Index 10,684,578 13,753,365 -22.3%
    Futures 6,465,795 7,760,863 -16.7%
    Options 4,218,783 5,992,502 -29.6%
    Individual Equity 19,608,871 21,564,450 -9.1%
    Futures 526,418 2,782,606 -81.1%
    Options 19,082,453 18,781,844 +1.6%

    1 Definition in Appendix – adjusted for non-underlying operating expenses excluding D&A and non-underlying revenue and income.
    2   Fixed income, commodities and currencies
    3 Last twelve months adjusted EBITDA. Net debt to last twelve months reported EBITDA ratio was at 1.9x.
    4 Share of the parent company shareholders
    5https://www.euronext.com/en/about/media/euronext-press-releases/euronext-announces-collaboration-euroclear-enhance-euronext
    6https://www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
    7https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
    8https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
    9 Offer is subject to customary and regulatory approvals.
    10 Including revenue from power trading and clearing
    11 Including equities, ETFs, warrants and certificates
    12www.euronext.com/en/news/euronext-nasdaq-clearing-agreement-power-derivatives-transfer-set-for-march-2026.
    13 www.euronext.com/en/about/media/euronext-press-releases/euronext-and-clearstream-launch-partnership-further-strengthen
    14www.euronext.com/en/investor-relations/financial-information/news/euronext-announces-success-its-offering-bonds-due
    15 www.euronext.com/en/about/media/euronext-press-releases/euronext-launches-first-phase-its-strategic-multi-year-repo
    16 https://www.euronext.com/en/about/media/euronext-press-releases/euronext-launch-voluntary-share-exchange-offer-for-all-athex-0
    17 Offer is subject to customary and regulatory approvals.

    18 The Nasdaq Nordic transaction qualifies as an ‘asset acquisition’. The full purchase price, consisting of a fixed amount of US$35.0 million and a contingent consideration amount estimated at US$115.0 million, is allocated to customer relationships as an intangible asset. The Group has chosen to apply the liability approach that follows IFRIC 1 principles for recognition of the contingent consideration liability, whereby subsequent changes in the liability are adjusted against the carrying amount of the related asset.

    Attachment

    • Q2 2025 Results – Press Release

    The MIL Network –

    August 5, 2025

  • MIL-OSI: Coface SA: Description of the 2025-2026 Share Buyback Program

    Source: GlobeNewswire (MIL-OSI)

    Description of the 2025-2026 Share Buyback Program

    1. INTRODUCTION

    It is reminded that the Shareholders’ Combined General Meeting of COFACE SA (the Company) held on of May 16, 2024, had previously authorised the Board of Directors, in its fourth (4th) resolution, to carry out transactions on COFACE SA’s shares under the framework of the 2024-2025 Share Buyback Program. The main features and description of the said program are published on the Company’s website and on the 2024 Universal Registration Document.

    The Company, listed on Euronext Paris – Compartment A -, wishes to continue to have a Share Buyback Program (the Program), pursuant to applicable regulation (See “Legal Framework” below).

    To this end, the Shareholders’ Combined General Meeting of May 14, 2025 issued a new authorisation to the Board of Directors, with the power to sub delegate in accordance with legislative and regulatory provisions, thirteen (13th) resolution, to implement a new Share Buyback Program on the Company’s shares (Code ISIN FR0010667147). This Program shall replace the existing one established by the Shareholders’ Combined General Meeting of May 16, 2024.

    1. MAIN CHARACTERISTICS OF THE 2025-2026 SHARE BUYBACK PROGRAM

    2.1 Date of Shareholders’ General Meeting authorising the Program

    The 2025-2026 Program was authorised by the Shareholders’ Combined General Meeting of May 14, 2025, in its thirteen (13th) resolution.

    The Board of Directors of July 31, 2025, authorised COFACE SA, with the power to sub delegate to the CEO, pursuant to the delegation given by the Shareholder’s Combined General Meeting of May 14, 2025 in its thirteen (13th) resolution, to trade on the Company’s share through the “2025-2026 Share Buyback Program”, whose main features are described below.

    2.2 Allotment by objective of shares held as of June 30, 2025

    COFACE SA held, as of June 30, 2025, 0.57% of its share capital or 852,060 common shares. At that date, the breakdown by objective of the number of shares held was as follows:

    Objectives Number of own shares held
    a) ensure liquidity and boost the market for the Company’s stock through an investment service provider acting independently within the context of a liquidity contract in compliance with the Charter of Ethics recognised by the French Financial Markets Authority 92,102
    b) allot shares to employees of the Company and in particular within the context:
    (1) of profit sharing;
    (2) any stock option plan of the Company, pursuant to the provisions of Articles L.225-177 et seq. of the French Commercial Code;
    (3) any savings plan in compliance with Articles L.3331-1 et seq. of the French Labour Code;
    (4) any allocation of bonus shares pursuant to the provisions of Articles L.225-197-1 et seq. of the French Commercial Code;
    as well as performing all hedging operations relating thereto, under the conditions provided for by the market authorities and at the times to be determined by the Board of Directors or the person acting upon its delegation    		  

    0
    0

    0

    755,958
    e) cancel all or part of the stock thus purchased 0
    TOTAL 852,060

    2.3 Objectives of the 2025-2026 Share Buyback Program

    Purchases and sales of the Company’s shares may be made, by decision of the Board, to:

    Authorised objectives
    a) ensure liquidity and boost the market for the Company’s stock through an investment service provider acting independently within the context of a liquidity agreement, in compliance with the market practice accepted by the Autorité des marchés financiers on 2 July 2018;
    b) allocate shares to the corporate officers and employees of the Company and of other Group entities, in particular within the context of:
    (i) employee profit sharing;
    (ii) any stock option plan of the Company, pursuant to Article L.225-177 et seq. of the French Commercial Code;
    (iii) any savings plan in compliance with Article L.3331-1 et seq. of the French Labour Code;
    (iv) any allocation of bonus shares pursuant to the provisions of Article L.225‑197-1 et seq. of the French Commercial Code;
    as well as performing all hedging operations relating to these operations, under the conditions provided for by the market authorities, and at the times to be determined by the Board of Directors or the person acting by delegation thereof
    c) transfer the Company’s shares upon exercise of the rights attached to securities entitling their bearers, directly or indirectly, through reimbursement, conversion, exchange, presentation of a warrant or in any other manner, to the allocation of the Company’s shares pursuant to current regulations; additionally, perform all hedge operations relating to these transactions, under the conditions provided for by the market authorities and at the times to be determined by the Board of Directors or the person acting by delegation of the Board of Directors
    d) keep the Company’s shares and subsequently remit them as payment or trade within the context of any external growth operations
    e) cancel all or part of the stock purchased
    f) implement any market practice that may be authorised by the French Financial Markets Authority and, more generally, perform all operations in compliance with applicable regulations in particular with Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (market abuse regulation)

    2.4 Maximum percentage of the share capital, maximum number of shares, maximum purchase price and characteristics of the shares that COFACE SA intends to buyback

    2.4.1 Characteristics of the shares that COFACE SA intends to buyback

    Common shares of the Company traded on Euronext Paris:

    STOCK MARKET PROFILE
    Trading Euronext Paris (compartment A), eligible for
    deferred settlement service (SRD)
    ISIN code FR0010667147
    Reuters code COFA.PA
    Bloomberg code COFA FP
    Stock market indexes SBF 120, CAC All Shares, CAC All-Tradable,
    CAC Financials, CAC Mid & Small, CAC Mid 60, Next 150

    2.4.2 Maximum percentage of the share capital

    The Board of Directors can authorise, with the power to sub-delegate under the legal and regulatory conditions, in compliance with the provisions of Articles L.22-10-62 et seq and  L.225-210 et seq. of the French Commercial Code, the purchase of –in one or more instances and at the times to be determined by it – a number of shares of the Company not to exceed:
    (i)    10% the total number of shares composing the share capital, at any time whatsoever; or,
    (ii)    5% of the total number of shares subsequently composing the share capital if it concerns shares acquired by the Company in view of keeping them and transferring them as payment or exchange under a merger, spin-off or contribution operation.

    These percentages apply to a number of shares adjusted, where appropriate, according to the operations that could affect the share capital subsequent to the Shareholders’ Meeting of 16 May 2024.

    2.4.3 Maximum number of shares

    COFACE SA is committed, by law, not to exceed the holding limit of 10% of its capital, such 10% limit being, for information purposes, 15,017,979 shares as at June 30, 2025.

    2.4.4 Maximum purchase price

    According to the thirteen (13th) resolution proposed and accepted by the Shareholder’s Combined General Meeting of May 14, 2025, the maximum purchase price per unit may not exceed €30, excluding costs.

    The Board of Directors may nevertheless, for operations involving the Company’s capital, in particular a modification of the par value of the share, a capital increase by incorporation of reserves following the creation and allocation of bonus shares, a stock split or reverse stock split, adjust the aforementioned maximum purchase price in order to take into account the impact of these operations on the value of the Company’s stock.

    2.4.5 Other information

    The acquisition, disposal or transfer of these shares may be completed and paid for by all methods authorised by the current regulations, on a regulated market, multilateral trading system, a systematic internaliser, or over the counter, in particular through the acquisition or disposal of blocks of shares, using options or other derivative financial instruments, or warrants or, more generally, securities entitling their bearers to shares of the Company, at the times that the Board of Directors will determine.

    The Board of Directors shall have all powers, with the power to sub delegate in compliance with legislative and regulatory conditions, in order to, in accordance with applicable legislative and regulatory provisions, proceed with the permitted reallocation of repurchased shares in view of one of the objectives of the programme, to one or more of its other objectives, or even their disposal, on or off the market.

    2.5 Term of the 2025-2026 Share Buyback Program

    According to thirteen (13th) resolution proposed and accepted by the Shareholders’ Combined General Meeting of May 14, 2025, this Program will have a maximum period of eighteen (18) months from the date of said Combined General Meeting and will therefore continue no later than November 13, 2026 (including) or until the date of its renewal by a Shareholders’ General Meeting, the one occurring first.

    This authorisation concludes the one granted by the fourth (4th) resolution that was adopted by the Shareholders’ Combined Meeting of May 16, 2024.

    1. LEGAL FRAMEWORK

    Legal Framework

    The legal framework used for this document shall be that in force on June 30, 2025.
    It shall be noted that regulation may evolve during time and its updates shall be taken into consideration.

    1. Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC;
    2. Commission Delegated Regulation (EU) 2016/1052 of March 8, 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programs and stabilisation measures;
    3. Article L.225-206 and following of the French Commercial Code (and updates);
    4. General Regulation of the French Market Authority: Article L.221-1 and seq. and Article L.241-1 and seq.;
    5. AMF Policy Documents.

    Historical figures

    The main features of the Share Buyback Programs have been published on the website of the Company (http://www.coface.com/Investors) and are also described in the Universal Registration Documents.

    Share Buyback Program General Assembly authorising the Program Decision to implement the Program by the Board of Directors Transactions framework
    Liquidity Agreement LTIP Cancellation of shares
    2020 – 2021 May 14, 2020 (Res. 5) July 29, 2020 Yes No Yes1
    2021 – 2022 May 12, 2021 (Res. 17) July 28, 2021 Yes No No
    2022 – 2023 May 17, 2022 (Res. 8) July 28, 2022 Yes Yes2 No
    2023 – 2024 May 16, 2023 (Res. 4) August 10, 2023 Yes Yes3 No
    2024 – 2025 May 16, 2024 (Res. 4) August 5, 2024 Yes No No
    2025 -2026 May 14, 2025 (Res. 13) July 31, 2025 Yes Yes No

    (1)   Own shares transactions Agreement, signed with Kepler Cheuvreux, from October 27, 2020 to January 29, 2021, to buy Coface’s shares for their cancellation. For more information, the reader should refer to the Universal Registration Document published in 2021 on the 2020 financial statements.
    (2)   Own shares transactions Agreement, signed with BNP Paribas Exane, from September 13, 2022 to November 15, 2022, to buy Coface’s shares for their allocation under the LTIP. For more information, the reader should refer to the Universal Registration Document published in 2023 on the 2022 financial statements.
    (3)   Own shares transactions Agreement, signed with Kepler Cheuvreux, from September 11, 2023 to September 29, 2023, to buy Coface’s shares for their allocation under the LTIP. For more information, the reader should refer to the Universal Registration Document published in 2024 on the 2023 financial statements.

    Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by Wiztrust. You can check the authenticity on the website www.wiztrust.com.

    Attachment

    • 2025 07 31 COFACE SA – Share Buyback Program 2025-2026 vDEF

    The MIL Network –

    August 5, 2025

  • MIL-OSI: Equasens: H1 revenue at 30 June 2025: €116.0m

    Source: GlobeNewswire (MIL-OSI)

    Villers-lès-Nancy (France), 31 July 2025 – 6:00 PM (CET)

    PRESS RELEASE

    H1 revenue at 30 June 2025: €116.0m
    +7.4% on a reported basis and +6.4% like-for-like

    H1 2025 Group revenue (€m) 2024
    Reported basis    		 2025
    Reported basis    		 Change /
    Reported basis    		 Of which external growth Like-for-like change
    (organic growth)
    Q1 53.3 57.0 3.7 6.9% 0.5 3.2 5.9%
    Q2 54.7 58.9 4.3 7.8% 0.5 3.8 6.9%
    Total 108.0 116.0 8.0 7.4% 1.1 6.9 6.4%
    H1 2025 revenue / Division (€m) 2024
    Reported basis    		 2025
    Reported basis    		 Change /
    Reported basis    		 Of which external growth Like-for-like change
    (organic growth
    Pharmagest 82,1 85,9 3,9 4,7%   3,9 4,7%
    Axigate Link 15,4 16,5 1,0 6,7%   1,0 6,7%
    e-Connect 5,5 7,5 2,0 36,6%   2,0 36,6%
    Médical Solutions 3,9 5,1 1,1 29,1% 1,1 0,1 2,2%
    Fintech 1,1 1,0 -0,1 -7,6%   -0,1 -7,6%
    Total 108,0 116,0 8,0 7,4% 1,1 6,9 6,4%

    As of 30 June 2025, Equasens Group (Euronext Paris™ – Compartment B – FR 0012882389 -EQS), a leading provider of digital solutions for healthcare professionals, reported revenue of €116.0m, up 7.4% from H1 2024 on a reported basis and 6.4% like-for-like.

    Revenue from CALIMED SAS, acquired by the Medical Solutions Division in December 2024, was restated to reflect changes in the scope of consolidation (€1.1m).

    H1 2025 highlights by type of business

    In order to facilitate the analysis of performance, a new breakdown of the Group’s activities is proposed: “maintenance and subscriptions” includes all recurring revenues, and “software and services” mainly includes license sales and revenues from training, consulting, and intermediation.

    • Configuration and hardware sales (+9.9%) remain a major growth driver for the Group, particularly for the Pharmagest (+6.1%) and e-Connect (+125.9%) Divisions
    • Maintenance and subscriptions (+5.5%) grow steadily, benefiting from customer loyalty and the success of SaaS offerings, particularly in the Axigate Link Division (+5.6%). Calimed (Medical Solutions Division) contributed growth of 2.0% to this segment.
    • Software solutions and services (+6.4%) continue to perform very well, driven by license sales, particularly those linked to the Pharmagest Division’s latest product launches (+4.6%) and by new deployments by the Axigate Link Division (+8.9%).
    H1 2025 revenue / Activity (€m) 2024**
    Reported basis    		 2025
    Reported basis    		 Change / Reported basis
    Configurations and hardware 42.9 47.1 4.2 9.9%
    Maintenance and subscriptions 48.7 51.4 2.7 5.5%
    Software and services 16.4 17.4 1.1 6.4%
    Total 108.0 116.0 8.0 7.4%

    * Maintenance and subscriptions: recurring revenues including SaaS
    ** 2024 reported basis: reconstituted data

    H1 2025 highlights by Division
            
    The PHARMAGEST Division recorded H1 revenue of €85.9m (+4.7%).  This performance confirms the positive momentum that began in Q1 2025, driven by innovation and improved customer satisfaction.

    • In France, all business activities grew (+3.4% to €74.0m), driven by:
      • Equipment renewal needs and new equipment offerings, the “electronic labels” business was particularly buoyant in the second quarter.
      • The launch, in early 2025, of differentiating software solutions focused on pharmacy automation, productivity and safety. The market response to these new solutions has been very positive, with over 800 id.genius and 160 id.secure box sold.
      • Electronic invoice management solutions for pharmacies (Digipharmacie), which confirmed its market leadership by adding more than 900 new customers.
      • Only the professional training sector (Atoopharm) is experiencing a slowdown in response to changes in the regulatory environment, and in particular a one-year extension of the training cycle.
    • In Italy, sales grew evenly across both wholesale and pharmacy activities (+16.5% to €7.7m). This positive sales momentum remained strong, with the opening of more than 150 new pharmacies in the first half.
    • In Germany, sales were up (+11.2% to €3.0m) in both the medication adherence and pharmacy management segments, thanks in particular to the success of id.express payment terminals.
    • In Belgium, the return to growth has been confirmed (+6.4% to €1.2m).

    This Division accounts for 74.1% of total revenue.

    The AXIGATE LINK division reported H1 2025 revenue of €16.5m (+6.7%).

    • The Nursing Home sector (+4.5% to €8.4m) has benefited from the ESMS NUMERIQUE public funding in France, resulting in a strong business performance. Titanlink has been deployed at 164 sites since January 2025 in France (789 in total) and 16 in Belgium (58 sites in total).
    • The Homecare sector (+13.9% to €3.9m) has continued to perform well, driven by the signing of new contracts and the success of offers designed for Regional Resource Centres (CRT) and Family Caregiver Support Services (PFR). Expansion into the Home Care Services market has met with a very positive response.
    • The Hospital sector (+16.6% to €2.1m) has been particularly successful, with the signature of contracts for four hospital networks, confirming the growing reputation of the Axigate Hospilink solution in this market.

    This Division accounts for 14.2% of total revenue.

    The E-CONNECT division reported H1 2025 revenue of €7.5m (+36.6%).

    • Building on the momentum of Q1, the Division continued to roll out its Mobility solutions at a rapid pace, notably eS-KAP+, a new solution launched in Q1 2025 that has been very well received by more than 20 key software publishers in this market.
    • Since March 2025, the project to equip smartphones with a digital solution of the French health insurance card (Apps Vitale) has been gradually rolled out in accordance with the regional timetable established by the French national health insurance system.

    This Division accounts for 6.5% of total revenue.

    The MEDICAL SOLUTIONS Division had €5.1m in revenue, up 29.1% on a reported basis and 2.2% like-for-like.

    • The integration of Calimed (acquired at the end of 2024) has been the main driver of this growth as its SaaS offering for surgeons and doctors continues to attract new customers thanks to its high added value for these professions.
    • The Division’s long-standing solutions are benefiting from the very positive response to new offerings like the LOQUii voice-based AI companion and add-on services like online backup, attesting to the loyalty of the customer base and the strength of the recurring model in an intensely competitive environment.

    The Division accounts for 4.4% of total revenue.

    The FINTECH Division had H1 revenue of €1.0m (-7.6%).

    • Efforts are continuing to clean up the customer portfolio to limit risk exposure and improve its quality.
    • Sales remained buoyant in a difficult economic environment.

    The Division accounts for 0.9% of total revenue.

    Material subsequent events after 30 June 2025 Acquisition of the DIS and ResUrgences businesses – Strategic reinforcement of the AXIGATE LINK Division

    On July 1st, 2025, the Group finalized the acquisition of two businesses specialising in solutions for the public healthcare sector: Novaprove (publisher of ResUrgences software) and the business assets of DIS. This strategic acquisition, which adds more than 300 customers from the public healthcare sector and generates annual revenue of around €5m, significantly strengthens the position of the Axigate Link Division in the hospital and medical-social software market.
    ResUrgences, a cloud platform specialising in the management of hospital emergency services, used by eight university hospitals and 75 other establishments, and the DIS range representing a comprehensive suite of digital solutions used by 215 sites (125 healthcare establishments and 90 nursing homes), further enhance the Division’s existing offering. The integration of these new functional modules (Electronic Patient Records, invoicing, accounting, inventory management, and HR) into the Hospilink, Titanlink and Domilink ranges will create a comprehensive ecosystem to support the digital transformation of public and private institutions, in line with the Group’s ambition to become the leading technology partner for the French healthcare system.

    H2 2025 outlook:

    Encouraged by the positive commercial momentum experienced across all of its divisions in H1 2025, Equasens Group looks ahead to the second half with confidence for which it is expecting continuing growth.
    At the same time, Equasens Group remains attentive to the decisions of public authorities regarding the level of financial compensation granted by health insurance for the purchase of generic and biosimilar medicines. These decisions could have an impact on pharmacy economics and the pharmacy network.
    The investment and structural efforts made since 2024 are starting to show results, with the successful rollout of new software solutions for all healthcare professionals. These measures will be maintained for the remainder of FY 2025.
    The integration of DIS and ResUrgences businesses, effective as of 1 July 2025, will start contributing to the performance of the Axigate Link Division in Q3 and will create promising technical and commercial synergies.
    With a solid financial structure, the Group remains attentive to opportunities for external growth, both in France and in Europe that will strengthen its position as a leader in digital healthcare solutions.

    Financial calendar:

    • H1 2025 results: 26 September 2025
    • Presentation of H1 2025 results to analysts (SFAF): 29 September 2025 – Paris
    • Q3 2025 revenue: 5 November 2025
    • FY 2025 revenue: 5 February 2026

    About Equasens Group

    Founded over 35 years ago, Equasens Group, a leader in digital healthcare solutions, today employs over 1.300 people across Europe.
    Equasens Group’s specialised business applications facilitate the day-to-day work of healthcare professionals and their teams, working in private practice, collaborative medical structures or healthcare establishments. The Group also provides comprehensive support to healthcare professionals in the transformation of their profession by developing electronic equipment, digital solutions and healthcare robotics, as well as data hosting, financing and training adapted to their specific needs.
    And reflecting the spirit of its tagline “Technology for a More Human Experience”, the Group is a leading provider of interoperability solutions that improve coordination between healthcare professionals, their communications and data exchange resulting in better patient care and a more efficient and secure healthcare system.

    Listed on Euronext Paris™ – Compartment B

    Indexes: MSCI GLOBAL SMALL CAP – GAÏA Index 2020 – CAC®SMALL and CAC®All-Tradable
    Included in the Euronext Tech Leaders segment and the European Rising Tech label

    Eligible for the Deferred Settlement Service (“Service à Réglement Différé” – SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
    ISIN: FR 0012882389 – Ticker Code: EQS

    Get all the news about Equasens Group www.equasens.com and on LinkedIn

    CONTACTS

    EQUASENS Group
    Analyst and Investor Relations:
    Chief Administrative and Financial Officer: Frédérique Schmidt
    Tel: +33 (0)3 83 15 90 67 – frederique.schmidt@equasens.com

    Financial communications agency:
    FIN’EXTENSO – Isabelle Aprile

    Tel.: +33 (0)6 17 38 61 78 – i.aprile@finextenso.fr

    Forward-looking statements
    This press release contains forward-looking statements that are not guarantees of future performance and are based on current opinions, forecasts and assumptions, including, but not limited to, assumptions about Equasens’ current and future strategy and the environment in which Equasens operates. These involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to materially differ from those expressed in or implied by such forward-looking statements. These risks and uncertainties include those detailed in Chapter 3 “Risk factors” of the Universal Registration Document filed with the French financial market authority (Autorité des Marchés Financiers or AMF) on April 29, 2025 under number D.25-0334. These forward-looking statements are valid only as of the date of this press release.

    Attachment

    • EQUASENS_PR_20250731_2025-FY-revenue_EN

    The MIL Network –

    August 5, 2025

  • MIL-OSI: SCOR announces the availability of its 2025 Interim Financial Report

    Source: GlobeNewswire (MIL-OSI)

    Press release
    July 31, 2025 – N° 12

    SCOR announces the availability of its 2025 Interim Financial Report

    SCOR (“SCOR” or the “Company”) announces the availability and the filing with the French Autorité des marchés financiers of its Interim Financial Report for the period ended June 30, 2025.

    The 2025 Interim Financial Report is available in the “Regulated Information” section of the Company’s website at www.scor.com.

    Hard copies of the 2025 Interim Financial Report are also available at SCOR’s headquarters, located at the following address:

    SCOR SE
    5, avenue Kléber
    75795 Paris Cedex 16
    France

    *

    *         *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk,” SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 20.1 billion in 2024 and serves clients in more than 150 countries from its 37 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com

    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn
     

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    General

    Figures presented throughout the 2025 Interim Financial Report may not add up precisely to the totals in the tables and text. Percentages and percent changes are calculated on complete figures (including decimals); therefore, the 2025 Interim Financial Report might contain immaterial differences in sums and percentages due to rounding. Unless otherwise specified, the sources for the business ranking and market positions are internal.

    The 2025 Interim Financial Report does not constitute an offer to sell or exchange, or a solicitation of an offer to buy SCOR securities in any jurisdiction.

    Forward-looking statements

    The 2025 Interim Financial Report includes forward-looking statements, assumptions, and information about SCOR’s financial condition, results, business, strategy, plans and objectives, including in relation to SCOR’s current or future projects.

    These statements may be identified by the use of the future tense or conditional mode, or terms such as “estimate”, “believe”, “anticipate”, “aim”, “expect”, “have the objective”, “intend to”, “plan”, “result in”, “should”, and other similar expressions.

    It should be noted that the achievement of these objectives, forward-looking statements, assumptions and information is dependent on circumstances and facts that may or may not arise in the future.

    No guarantee can be given regarding the achievement of these forward-looking statements, assumptions and information. These forward-looking statements, assumptions and information are not guarantees of future performance. Forward-looking statements, assumptions and information (including on objectives) may be impacted by known or unknown risks, identified or unidentified uncertainties and other factors that may significantly impact the future results, performance and accomplishments planned or expected by SCOR.

    In particular, it should be noted that the full impact of the economic, financial and geopolitical risks on SCOR’s business and results cannot be precisely assessed.

    Accordingly, all assessments, assumptions, and figures presented in the 2025 Interim Financial Report should be considered as estimates based on evolving analyses, and encompass a wide range of theoretical hypotheses, which are highly evolutive.

    Information regarding risks and uncertainties that may affect SCOR’s business is set forth in the 2024 Universal Registration Document filed on March 20, 2025, under number n°D.25-0124 with the French Autorité des marchés financiers (AMF) available on SCOR’s website www.scor.com and on the AMF’s website www.amf-france.org.

    In addition, such forward-looking statements, assumptions and information are not “profit forecasts” within the meaning of Article 1 of Commission Delegated Regulation (EU) 2019/980.

    SCOR does not undertake and has no obligation or intention to complete, update, revise or change these forward-looking statements, assumptions and information, whether as a result of new information, future events or otherwise.

    Financial information

    The Group’s financial information contained in the 2025 Interim Financial Report is prepared on the basis of IFRS and interpretations issued and approved by the European Union.

    Unless otherwise specified, prior-year balance sheet, income statement items and ratios have not been reclassified.

    The calculation of financial ratios (such as return on invested assets, regular income yield, return on equity and combined ratio) is detailed in the Appendices of the presentation related to the financial results for the second quarter and first half of 2025 which is available on SCOR’s website www.scor.com.

    The financial results for the first half of 2025 included in the 2025 Interim Financial Report have been subject to a limited review by SCOR’s statutory auditors. Unless otherwise specified, all figures are presented in Euros.

    Any financial data or figures for a period subsequent to June 30, 2025 are not to be construed as a forecast of the expected financials for these periods.

    Attachment

    • SCOR Press Release

    The MIL Network –

    August 5, 2025

  • MIL-OSI Security: Prince Abdulaziz Bin Saud, Saudi Minister of Interior, visits INTERPOL headquarters

    Source: Interpol (news and events)

    31 July 2025

    Welcomed by the INTERPOL President and Secretary General, the visit focused on bolstering international police cooperation to combat emerging crime threats.

    LYON, France: The Saudi Arabian Minister of Interior, Prince Abdulaziz Bin Saud Bin Naif Bin Abdulaziz, met with INTERPOL President Ahmed Naser Al-Raisi and INTERPOL Secretary General Valdecy Urquiza at the organization’s Lyon headquarters.

    The visit underscored INTERPOL’s strong cooperation with Saudi Arabia, which is set to host the organization’s Regional Bureau for the Middle East and North Africa.

    President Al-Raisi said:

    “INTERPOL greatly values the strong partnership with Saudi Arabia in tackling global security threats. The visit of the Minister of Interior to INTERPOL’s headquarters underlines the Kingdom’s commitment to international police cooperation and our shared determination to confront transnational crime through collaboration, innovation, and trust.”

    Prince Abdulaziz Bin Saud said:

    “Today’s visit reflects Saudi Arabia’s continued commitment to supporting INTERPOL and strengthening international cooperation in combating cross-border crime.  The Kingdom values INTERPOL’s vital role in enhancing collaboration between security agencies worldwide, a partnership which is crucial to global security and stability.”

    Prince Abdulaziz Bin Saud and his delegation were briefed by INTERPOL officials on police capabilities targeting cybercrime, financial fraud and other emerging crime threats.

    The Minister was also updated on the progress of INTERPOL’s I-CORE programme to modernize international police cooperation, which has benefited from the financial support of Saudi Arabia.

    Secretary General Urquiza said:

    “Saudi Arabia has shown important leadership in driving the digital transformation of international police cooperation. The Kingdom’s generous support for INTERPOL’s I-CORE programme is accelerating our efforts to build a more connected and effective global policing architecture.”

    Prince Abdulaziz Bin Saud was accompanied by Hesham Al-Faleh, Assistant Minister of Interior and Fahd bin Mayouf Al-Ruwaili, Ambassador of The Kingdom of Saudi Arabia to France, alongside other senior national security leaders.

    MIL Security OSI –

    August 5, 2025

  • MIL-OSI Submissions: By building the world’s biggest dam, China hopes to control more than just its water supply

    Source: The Conversation – UK – By Tom Harper, Lecturer in International Relations, University of East London

    China’s already vast infrastructure programme has entered a new phase as building work starts on the Motuo hydropower project.

    The dam will consist of five cascade hydropower stations arranged from upstream to downstream and, once completed, will be the world’s largest source of hydroelectric power. It will be four times larger than China’s previous signature hydropower project, the Three Gorges Dam, which spans the Yangtse river in central China.

    The Chinese premier, Li Qiang, has described the proposed mega dam as the “project of the century”. In several ways, Li’s description is apt. The vast scale of the project is a reflection of China’s geopolitical status and ambitions.

    Possibly the most controversial aspect of the dam is its location. The site is on the lower reaches of the Yarlung Zangbo river on the eastern rim of the Tibetan plateau. This is connected to the Brahmaputra river which flows into the Indian border state of Arunachal Pradesh as well as Bangladesh. It is an important source of water for Bangladesh and India.

    Both nations have voiced concerns over the dam, particularly since it can potentially affect their water supplies. The tension with India over the dam is compounded by the fact that Arunachal Pradesh has been a focal point of Sino-Indian tensions. China claims the region, which it refers to as Zangnan, saying it is part of what it calls South Tibet.

    At the same time, the dam presents Beijing with a potentially formidable geopolitical tool in its dealings with the Indian government. The location of the dam means that it is possible for Beijing to restrict India’s water supply.

    This potential to control downstream water supply to another country has been demonstrated by the effects that earlier dam projects in the region have had on the nations of the Mekong river delta in 2019. As a result, this gives Beijing a significant degree of leverage over its neighbours.

    One country restricting water supply to put pressure on another is by no means unprecedented. In fact in April 2025, following a terror attack by Pakistan-based The Resistance Front in Kashmir, which killed 26 people (mainly tourists), India suspended the Indus waters treaty, restricting water supplies to Pakistani farmers in the region. So the potential for China’s dam to disrupt water flows will further compound the already tense geopolitics of southern Asia.

    Concrete titans

    The Motuo mega dam is an advertisement of China’s prowess when it comes to large-scale infrastructure projects. China’s expertise with massive infrastructure projects is a big part of modern Chinese diplomacy through its massive belt and road initiative.

    This involves joint ventures with many developing nations to build large-scale infrastructure, such as ports, rail systems and the like. It has caused much consternation in Washington and Brussels, which view these initiatives as a wider effort to build Chinese influence at their expense.

    The completion of the dam will will bring Beijing significant symbolic capital as a demonstration of China’s power and prosperity – an integral feature of the image of China that Beijing is very keen to promote. It can also be seen as a manifestation of both China’s aspiration and its longstanding fears.

    Harnessing the rivers

    The Motuo hydropower project also represents the latest chapter of China’s long battle for control of its rivers, a key story in the development of Chinese civilisation.

    Rivers such as the Yangtze have been at the heart of the prosperity of several Chinese dynasties (the Yangtse is still a major economic driver in modern China) and has devastated others. The massive Yangtse flood of 1441 threatened the stability of the Ming dynasty, while an estimated 2 million people died when the river flooded in 1931.

    France 24 report on the construction of the mega dam project.

    Such struggles have been embodied in Chinese mythology in the form of the Gun-Yu myth. This tells the story of the way floods displaced the population of ancient China, probably based on an actual flooding at Jishi Gorge on the Yellow River in what is now Qinghai province in 1920BC.

    This has led to the common motif of rivers needing human control to abate natural disaster, a theme present in much classical Chinese culture and poetry.

    The pursuit of controlling China’s rivers has also been one of the primary influences on the formation of the Chinese state, as characterised by the concept of zhishui 治水 (controlling the rivers). Efforts to control the Yangtze have shaped the centralised system of governance that has characterised China throughout its history. In this sense, the Motuo hydropower project represents the latest chapter in China’s quest to harness the power of its rivers.

    Such a quest remains imperative for China and its importance has been further underlined by the challenges of climate change, which has seen natural resources such as water becoming increasingly limited. The Ganges river has already been identified as one of the world’s water scarcity hotspots.

    As well as sustaining China’s population, the hydropower provided by the dam is another part of China’s wider push towards self-sufficiency. It’s estimated that the dam could generate 300 billion kilowatt-hours of electricity every year – about the same about produced by the whole UK. While this will meet the needs of the local population, it also further entrenches China’s ability to produce cheap electricity – something that has enabled China to become and remain a manufacturing superpower.

    Construction has only just begun, but Motuo hydropower project has already become a microcosm of China’s wider push towards development. It’s also a gamechanger in the geopolitics of Asia, giving China the potential to exert greater control in shaping the region’s water supplies. This in turn will give it greater power to shape the geopolitics of the region.

    At the same time, it is also the latest chapter of China’s longstanding quest to harness its waterways, which now has regional implications beyond anything China’s previous dynasties could imagine.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

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

    – ref. By building the world’s biggest dam, China hopes to control more than just its water supply – https://theconversation.com/by-building-the-worlds-biggest-dam-china-hopes-to-control-more-than-just-its-water-supply-261984

    MIL OSI –

    August 5, 2025

  • Trump’s envoy meets Netanyahu for Gaza aid, ceasefire push

    Source: Government of India

    Source: Government of India (4)

    U.S. special envoy Steve Witkoff met Israeli Prime Minister Benjamin Netanyahu on Thursday in a bid to salvage Gaza truce talks and tackle a humanitarian crisis in the enclave, where a global hunger monitor has warned that famine is unfolding.

    Shortly after Witkoff’s arrival, President Donald Trump posted on his Truth Social network: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Indirect ceasefire talks between Israel and Palestinian Islamist group Hamas in Doha ended in deadlock last week with the sides trading blame for the impasse and gaps lingering over issues including the extent of an Israeli military withdrawal.

    Witkoff arrived with Israel facing mounting international pressure over the widespread destruction of Gaza and constraints on aid in the territory, with Canada the latest Western power to say it will recognise a Palestinian state.

    Israel on Wednesday sent a response to Hamas’ latest amendments to a U.S. proposal that would see a 60-day ceasefire and the release of some hostages in exchange for Palestinian prisoners, a source familiar with the details said.

    There was no immediate comment from Hamas. Israeli officials have in recent days said Israel might declare that it would annex parts of Gaza if the stalemate continues.

    Gaza medical officials said at least 23 people were reported killed by Israeli fire across the enclave, including 12 people among crowds who had gathered to receive aid around the Netzarim corridor, an area held by Israeli troops in central Gaza.

    The Israeli military said that its troops had fired warning shots to disperse crowds that were endangering them with no casualties identified.

    Since the war began, the Gaza health ministry has recorded 156 deaths from starvation and malnutrition, most of them in recent weeks, including at least 90 children.

    Israel’s Public Broadcaster Kan said Witkoff would also visit an aid distribution site in Gaza.

    Confronted by rising international outrage over images of starving children, Israel said on Sunday it would halt military operations for 10 hours a day in parts of Gaza and designate secure routes for convoys delivering food and medicine.

    CALLS ON HAMAS TO DISARM

    The U.N. Office for the Coordination of Humanitarian Affairs said on Wednesday the United Nations and its partners had been able to bring more food into Gaza in the first two days of pauses, but the volume was “still far from enough”.

    Even with more aid running through Gaza, residents face peril from Israeli forces and Palestinian looters when trying to reach the supplies.

    “I have tried several times to grab a sack of flour. The only time I managed to do so, someone with a knife froze me in the street and took it away, threatening to stab me,” one man from Deir Al-Balah told Reuters, asking not to be identified.

    With the number of Palestinians killed in almost two years of war passing 60,000 this week, pressure has been mounting in Gaza on Hamas to reach a ceasefire deal with Israel.

    “We can save thousands of lives and maybe the war wouldn’t resume,” Rami from Gaza City told Reuters via a chat app.

    Mothers of hostages led a protest outside Netanyahu’s office, calling on the government to end the war.

    “End this nightmare,” said Yael Engel-Lichi, whose nephew had been taken hostage and released in a previous ceasefire. Twenty of the 50 hostages still held by militants in Gaza are believed to still be alive.

    Netanyahu, whose ruling coalition includes two far-right parties who want to conquer Gaza and re-establish Jewish settlements there, has said he will not end the war until Hamas no longer rules the enclave and lays down its arms.

    Hamas has rejected calls to disarm.

    Qatar and Egypt, who are mediating the ceasefire efforts, backed a declaration on Tuesday by France and Saudi Arabia which outlined steps for a two-state solution to the Israeli-Palestinian conflict.

    The declaration says Hamas “must end its rule in Gaza and hand over its weapons to the Palestinian Authority”, which is led by its rivals and exercises limited self-rule in parts of the Israeli-occupied West Bank.

    Israel has ruled out the Palestinian Authority gaining control of Gaza and on Thursday Defence Minister Israel Katz and Justice Minister Yariv Levin voiced support for annexing the West Bank – territory which the Palestinians seek for a state.

    Israel has denounced declarations by France, Britain and Canada since last week that they may recognise a Palestinian state, which Israel says amounts to rewarding Hamas for its October 7, 2023 assault on Israeli territory.

    That attack, when fighters killed 1,200 people and took 251 hostages back to Gaza, precipitated the war.

    German Foreign Minister Johann Wadephul, embarking on a visit to Israel, said negotiations for a two-state solution must begin but that for Germany, the recognition of a Palestinian state would come at the end of that process.

    (Reuters)

    August 5, 2025

  • MIL-OSI Canada: Triple threat, FIBA 3×3 is a slam dunk for Alberta

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

    August 5, 2025

  • MIL-OSI: Viridien: 2025 Interim Financial Report available

    Source: GlobeNewswire (MIL-OSI)

    Viridien

    Société Anonyme with a share capital of €7,180,449
    Registered office: 27 avenue Carnot, 91300 Massy
    No.: 969 202 241 – RCS Evry

    2025 Interim Financial Report available

    Paris, France – July 31, 2025

    Viridien announced that its interim financial report as at June 30, 2025 was filed today with the Autorité des Marchés Financiers (AMF).

    This document is available on the Company’s website: https://www.viridiengroup.com/ under the Investors section (both in “Regulated information” and “Results and Publications”).

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,400 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

    Contact: Legal Department, 27 avenue Carnot, 91300 Massy

    Attachment

    • communiqué rapport semestriel 2025 ENG – vF

    The MIL Network –

    August 5, 2025

  • MIL-OSI Security: Illicit firearms: Operation Trigger IX nets 14,260 arrests across Latin America

    Source: Interpol (news and events)

    18 April 2023

    Drugs worth USD 5.7 billion also seized in INTERPOL-led operation targeting key trafficking routes and organized crime groups

    LYON, France – In the biggest firearms operation ever coordinated by INTERPOL, authorities in Central and South America have made 14,260 arrests and seized some 8,263 illicit firearms, as well as 305,000 rounds of ammunition.

    With illicit firearms used by criminals to commit armed robberies and murder, they are also closely associated with the proliferation of a wide range of other crimes using the same trafficking routes.

    The links between illicit firearms and drug manufacturing and trafficking were thrown into sharp relief, with the seizure of 203 tonnes of cocaine and other drugs together worth some USD 5.7 billion, and 372 tonnes of drug precursors during Operation Trigger IX (12 March – 2 April).

    Law enforcement across INTERPOL’s 195 member countries have reported record drug seizures in the past year and, in many cases, a spike in drug-related violence, fueled by the traffic of illegal firearms.

    The operation, which saw an unprecedented level of cooperation across 15 countries, also identified a range of other crimes such as corruption, fraud, human trafficking, environmental crime and terrorist activities.

    Colombian authorities arrested the subject of an INTERPOL Red Notice

    Arrests in Honduras – Operation Trigger IX

    Firearms are closely associated with the proliferation of a wide range of other crimes.

    Border checks – Operation Trigger IX

    Operational hub – Operation Trigger IX

    Marine patrols – Operation Trigger IX

    Operation Trigger IX led to the disruption of 20 organized criminal groups

    Drug seizure – El Salvador

    A woman attempting to smuggle pistols and chargers between Paraguay and Brazil.

    Seizure by Chile – Operation Trigger IX

    Vehicle checks – Operation Trigger IX

    Uruguay saw its largest-ever seizure of ammunition.

    Operational highlights

    INTERPOL gathered firearms experts from participating countries at an operational hub in Foz do Iguaçu in the tri-border area of Argentina, Brazil, and Paraguay, to support frontline actions and ensure the swift exchange and cross-checking of intelligence.

    On the ground, coordinated actions led to the disruption of 20 organized criminal groups, including the arrest of members of Primeiro Comando da Capital, Mara Salvatrucha and the Balkans Cartel, all involved in firearms trafficking.

    In Uruguay, 100,000 pieces of ammunition trafficked internationally by two European nationals were seized by authorities, marking the country’s largest-ever such seizure.

    Authorities in Brazil and Paraguay shut down several firearms dealerships following the identification of irregular transfers and unlicensed sales.

    Other operational results include:

    • 11 victims were rescued in Paraguay, when authorities dismantled a human trafficking ring.
    • In cooperation with Venezuela, police in Colombia arrested a Venezuelan national subject to an INTERPOL Red Notice for terrorism and arms trafficking.
    • A 32 year old woman was arrested at the land border between Paraguay and Brazil with eight pistols and 16 chargers taped to her body.

    Looking ahead, some 30 investigations were opened as a result of actions on the ground, and authorities identified 15 new modus operandi for the illicit manufacturing, trafficking and concealment of firearms, with INTERPOL’s Purple Notice leveraged to help alert member countries.

    Officers perform real-time checks against INTERPOL’s databases during Operation Trigger IX.

    Operational hub – Brazil

    Border checks between Argentina and Brazil

    Seizure by Honduras – Operation Trigger IX

    Police checks by Argentina – Operation Trigger IX

    Authorities shut down several firearms dealerships in Brazil and Paraguay

    Authorities had immediate access to the INTERPOL Ballistic Information Network

    Arrest in Paraguay – Operation Trigger IX

    El Salvador firearms dealership checks – El Salvador

    INTERPOL’s global reach

    “The fact that an operation targeting illicit firearms resulted in such massive drugs seizures is further proof, if needed, that these crimes are intertwined,” said INTERPOL Secretary General Jürgen Stock.

    “The results, coming just weeks after our Americas Regional Conference was highlighting the need for greater information sharing on these linked organized crime activities, also demonstrate the unique value of INTERPOL in supporting efforts in the field.  

    “The organized crime networks behind all of these illicit activities have only one priority, which is profit. We, as law enforcement, must be equally determined to dismantle them across every region and globally,” concluded Secretary General Stock.

    Valdecy Urquiza, INTERPOL’s Vice-President for the Americas, highlighted the value of joint initiatives such as Trigger IX in prioritizing national and regional efforts against illicit flows. “Intelligence-led investigations and operations enable police to cooperate internationally and remove illicit firearms from circulation to protect the public,” said Mr Urquiza.

    INTERPOL global tools used by investigators during the operation include the Illicit Arms Records and Tracing Management System (iARMS), the only global database of illicit firearms, including stolen, lost and trafficked/smuggled firearms.

    Authorities also had immediate access to the INTERPOL Ballistic Information Network (IBIN), enabling law enforcement officials to compare images of ballistic fingerprints from fired casings and projectiles to establish links between crimes worldwide.

    Tracing the history and ownership of recovered firearms provides crucial investigative leads. Every firearm is unique and can be identified by its serial number, make, model and calibre as well as by its ballistic ‘fingerprint’. Comparing ballistics evidence of recovered cartridge casings and ammunition is therefore crucial to investigations.

    During the operation, INTERPOL’s Firearms Programme was supported by INTERPOL’s Regional Bureaus in Argentina and El Salvador, its Drugs and Fugitives units, and its Command and Coordination Centre.

    More than 100 national law enforcement agencies were involved in the operation, including the collaboration of US Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and Homeland Security Investigations (HSI), which supported participating countries.

    Participating countries: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Uruguay.

    Operation Trigger IX was funded by the European Union and carried out under the framework of Project Disrupt.

    MIL Security OSI –

    August 5, 2025

  • MIL-OSI Analysis: Will the latest diplomatic moves to end the war in Gaza work?

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor, The Conversation

    This article was first published in The Conversation UK’s World Affairs Briefing email newsletter. Sign up to receive weekly analysis of the latest developments in international relations, direct to your inbox.

    It feels as if things are moving at completely different speeds in Gaza and in the outside world. From the embattled Gaza Strip the narrative is depressingly familiar. Dozens more Palestinian civilians have been killed in the past 24 hours as they try to get hold of scarce supplies of food.

    Aid agencies report that despite air drops of supplies and “humanitarian pauses” in the fighting, the amount of food getting through to the starving people of Gaza remains pitifully insufficient.

    Two more children are reported to have died of starvation, bringing the total number of hunger-related deaths to 159, according to Palestinian sources quoted by al-Jazeera.

    US envoy Steve Witkoff arrived in Jerusalem for more talks as the US president Donald Trump posted his latest bout of social media diplomacy on his TruthSocial site, a message which appears pretty faithful to the Netanyahu government’s position: “The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!”

    Both sides continue to reject the other side’s demands, bringing ceasefire negotiations to an effective standstill.

    In the outside world, meanwhile, events seem to be gathering pace. A “high-level conference” at the United Nations in New York brought together representatives of 17 states, the European Union and the Arab League, resulting in “a comprehensive and actionable framework for the implementation of the two-state solution and the achievement of peace and security for all”.

    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

    What first catches the eye about this proposal, which was signed by Saudi Arabia,
    Qatar, Egypt and Jordan, is that it links a peace deal with the disarming and disbanding of Hamas. It also condemns the militant group’s savage attack on southern Israel on October 23 2023, which was the catalyst for the latest and arguably most grievous chapter of this eight-decade conflict. It’s the first time the Arab League has taken either of these positions.

    The New York declaration, as it has been dubbed, envisages the complete withdrawal of Israeli security forces from Gaza and an end to the displacement of Palestinians. Government will be the responsibility of the Palestinian Authority (PA), and a conference to be scheduled in Egypt will design a plan for the reconstruction of Gaza, much of which has been destroyed in the 20-month assault by the Israel Defense Forces.

    It is, writes Scott Lucas, a “bold initiative” which, “in theory could end the Israeli mass killing in Gaza, remove Hamas from power and begin the implementation of a process for a state of Palestine. The question is whether it has any chance of success.”

    Lucas, an expert in US and Middle East politics at the Clinton Institute of University College Dublin, is not particularly sanguine about the short-term prospects for a ceasefire and the alleviation of the desperate conditions for the people of Gaza. But what it represents more than anything else, is “yet another marker of Israel’s increasing isolation”.

    He points to recent announcements that France, the UK (subject to conditions) and Canada will recognise the state of Palestine at the UN general assembly in September. The prospect of normalisation between Israel and Arab states, at the top of the agenda a few short years ago, is now very unlikely. And in the US, which remains Israel’s staunchest ally, a Gallup poll recently found that public opinion is turning against Israel and its prime minister, Benjamin Netanyahu.



    Read more:
    New peace plan increases pressure on Israel and US as momentum grows for Palestinian statehood

    But how important are the declarations by France, the UK and Canada of intent to potentially recognise Palestinian statehood, asks Malak Benslama-Dabdoub. As expert in international law at Royal Holloway University of London, who has focused on the question of Palestinian statelessness, Benslama-Dabdoub thinks that the French and British pledges bear closer examination.

    The French declaration was made on July 24 on Twitter by the president, Emmanuel Macron. Macron envisages a “demilitarised” state, something Benslama-Dabdoub sees as a serious problem, as it effectively denies the fundamental right of states to self-determination and would rob a future Palestinian state of the necessary right to self-defence.

    The declaration by the UK prime minister that Britain may also recognise Palestinian statehood in September is framed as a threat rather than a pledge. Unless Israel agrees to a ceasefire, allows the UN to recommence humanitarian efforts and engages in a long-term sustainable peace process, the UK will go ahead with recognising Palestine at the UN.

    You have to consider that the UK government’s statement said that the position has always been that “Palestinian statehood is the inalienable right of the Palestinian people”. So to frame this as a threat rather than a demand is arguably to deny that “inalienable right”.



    Read more:
    UK to recognise Palestinian statehood unless Israel agrees to ceasefire – here’s what that would mean

    Paul Rogers also sees serious problems with the pledges to recognise Palestinian statehood. Demands for Hamas to disarm and play no further role in Palestinian government he sees as a non-starter as is the thought of a demilitarised Palestine. “Neither plan has the slightest chance of getting off the ground.”

    Rogers, who has researched and written on the Middle East for more than 30 years, also thinks that without the full backing of the US there is very little chance that a peace plan could succeed.

    Rogers finds it hard to believe that Washington will change tack on the Palestinian question, “unless the US president somehow gets the idea that his own reputation is being damaged”. There’s always a chance of this. News from the Gaza Strip is relentlessly horrifying and the aforementioned polls suggest many voters are reassessing their views of the conflict. But Trump is heavily indebted for his re-election to the far-right Christian Zionist movement, who wield a great deal of power with the White House.

    The other thing that might influence the conflict is if enough of the IDF’s top brass recognise the futility of waging what has always been an unwinnable conflict. This, writes Rogers, is whispered about in Israel’s military circles and one eminent retired general, Itzhak Brik, has come out and said: “Hamas has defeated us.”

    These, writes Rogers, are currently the only routes to an end to the conflict.



    Read more:
    UK and France pledges won’t stop Netanyahu bombing Gaza – but Donald Trump or Israel’s military could

    Inside Trumpian diplomacy

    We mentioned earlier that the Canadian prime minister, Mark Carney, has also pledged to recognise the state of Palestine in September. This was immediately greeted by Trump with the threat that he does so it will derail a trade deal with the US. Whether this will cut any ice with Carney, who had to make concessions to get the trade deal done in the first place, remains to be seen.

    But there’s a broader point here, writes Stefan Wolff. As Wolff reports, this week the foreign ministers of the Democratic Republic of Congo and Rwanda got together in Washington to sign a ceasefire deal, brokered by the US. Trump also claims to have successfully ended a conflict between India and Pakistan at the end of May and hostilities between Thailand and Cambodia earlier this month.

    Meanwhile his efforts to secure peace deals, or even a lasting ceasefire, in Gaza or Ukraine have been unsuccessful.

    Wolff considers why some countries respond to Trump’s diplomatic efforts while others don’t. There are a number of reasons, principally the US president’s ability to apply leverage through trade deals or sanctions and the differing complexity of the conflicts.

    He also points to the depleted resources of the US state department, Trump’s use of personal envoys with little foreign affairs experience and the US president’s insistence on making all the important decisions himself. He concludes: “The White House simply may not have the bandwidth for the level of engagement that would be necessary to get to a deal in Ukraine and the Middle East.”



    Read more:
    Why Donald Trump has stopped some conflicts but is failing with Ukraine and Gaza

    One US government department whose resources haven’t been depleted under Donald Trump is the US Immigration and Customs Enforcement agency, known as Ice. Part of the Department of Homeland Security, Ice has been responsible for identifying and detaining non-citizens and undocumented migrants.

    Their agents carry guns, wear masks and typically operate in plain clothes, although they often wear military kit. The agency received massive funding via Trump’s One Bzig Beautiful Bill Act earlier this month, which will allow the agency to recruit hundreds, if not thousands, of new agents. The number of arrests is increasing steadily, as is the disquiet their operations are prompting in many American cities, where opposition protests are also growing.

    Dafydd Townley, an expert in US politics at the University of Portsmouth, explains how Ice operates and where it sits in Donald Trump’s plan to deport millions of illegal migrants from the US.



    Read more:
    Masked and armed agents are arresting people on US streets as aggressive immigration enforcement ramps up

    World Affairs Briefing from The Conversation UK is available as a weekly email newsletter. Click here to get updates directly in your inbox.

    – ref. Will the latest diplomatic moves to end the war in Gaza work? – https://theconversation.com/will-the-latest-diplomatic-moves-to-end-the-war-in-gaza-work-262380

    MIL OSI Analysis –

    August 5, 2025

  • MIL-OSI: 2025 FIRST HALF RESULTS : MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Source: GlobeNewswire (MIL-OSI)

       
    PRESS RELEASE
      
    Paris, 31st July 2025 

      
     

    2025 FIRST HALF RESULTS :
    MOBILIZE FINANCIAL SERVICES DELIVERS SOLID GROWTH

    Mobilize Financial Services records a progression in new financing by 3.8% in the first semester of 2025 compared to the same period in 2024. This performance reflects a rise in the average amount financed and the commercial dynamics of Renault Group’s brands, Nissan and Mitsubishi, supported by a robust growth in registrations.

    With a progression of pre-tax profit by 9.7%, Mobilize Financial Services confirms the relevance of its strategy and its commitment to more sustainable mobility, in line with new uses.

    This performance confirms Mobilize Financial Services’ ability to efficiently support the strategy of its automotive partners, while meeting the expectations of customers in quest of flexible and competitive financing solutions.

    KEY INDICATORS

    Commercial performance1

    • The amount of new financing progresses by 3.8% compared to the first semester of 2024, driven by a sustained commercial dynamic.
    • 632,994 contracts were financed in the first semester of 2025, a slight increase in volume compared to the same period of the previous year (+0.8%).
    • The penetration rate on electric vehicles reached 43.9% at the end of June 2025, a positive difference of 6.5 points compared to other motorization.

    Financial performance

    • The Average Performing Assets (APAs) register a growth of 7.3% compared to the end of June 2024, confirming the robustness of the portfolio.
    • The Net Banking Income progressed by 5.3% over one year, to reach 1,132 million euros in the first semester of 2025.
    • The pre-tax income of the group increased to 607 million euros, increasing by 9.7% compared to the first semester of 2024.

    “In the beginning of the year 2025, we reaffirmed our ambition to support our customers as they transition to more sustainable mobility, by offering products and services in line with new uses. The half-year results support the robustness of our economic model and concretely illustrate our commitment to driving more responsible mobility, fully aligned with the ambitions of Renault Group”, declares Martin Thomas, Chief Executive Officer of Mobilize Financial Services.

    A SUSTAINED COMMERCIAL DYNAMIC, IN A RECOVERING MARKET

    In an automotive market with slight progression by 0.7%, the volumes of Renault Group, Nissan and Mitsubishi reached 1.19 million vehicles, increasing by 2.3% compared to the first semester of 2024. In this context, Mobilize Financial Services records a growth of its new financing by 3.8% (excluding cards and personal loans), for a total of 11.1 billion euros, driven by an increase in registrations and increases of the average financed amount.

    Excluding companies consolidated by equity method, the overall penetration rate stands at 39.6%, slightly down by 0.4 point compared to the same period of last year. The penetration rate on electrified vehicles, as for it, reaches 43.9% at the end of June 2025, +6.5 points compared to other types of motorization.

    In total, 632,994 new contracts were financed in the first semester of 2025, an almost stable volume (+0.8 %) compared to 2024. The financing activity of used vehicles recorded a slight decrease by 0.4% with 153,759 contracts financed.

    Benefitting from a growing operational leasing market, Mobilize Lease&Co financed in the first semester of 2025, 120,039 operational leasing contracts for private and professional customers and reached a fleet under management of 655,000 vehicles, representing a growth by 4% compared to the first semester of 2024.

    The Average Performing Assets (APAs) reached 58.9 billion euros, increasing by 7.3% compared to the first semester of 2024. APAs related to customer activity (private and professional) rose to 47.4 billion euros (+7%), whereas those related to dealership activity progressed by 8.6% to each 11.5 billion euros.

    Finally, 1.8 million insurance and service contracts were sold during the semester, confirming the relevance of the additional offers proposed by Mobilize Financial Services.

    A ROBUST FINANCIAL PERFORMANCE AND A DIVERSIFIED RE-FINANCING STRATEGY

    In the first semester of 2025, the Net Banking Income (NBI) of Mobilize Financial Services amounted to 1,132 million euros, increasing by 5.3 % compared to the end of 2024. This performance is mainly the result of an improvement in the financial margin as well as the growth of outstanding loans.

    The operating costs reached 389 million euros, increasing by 24 million euros compared to last year. This change is explained by the present of non-recurring items having reduced the expenses in the first semester of 2024. Reported to the Average Productive Assets, operating expenses remain stable at 1.33%.

    The pre-tax income stands at 607 million euros, against 553 million, one year earlier, a progression by 9.7 %, driven by the rise of NBI. The share of income from associate companies progressed slightly by +0.9 million euros.

    In a context marked by investor caution in the face of economic and geopolitical uncertainties, the group raised 1.3 billion euros on the bond market in the first semester of 2025. Three public issued were carried out:

    • 2 senior bonds in Euros of 850 million euros (3 years) and 500 million euros (5 years, Green Bond)
    • 1 Tier subordinated debt issue of 500 million euros

    This latest transaction enables expending the maturity profile of the subordinated debt and falls within an active capital management strategy, aiming to maintain a solid financial structure and robust safety margins. Besides, the subsidiaries of the group in Argentina, Brazil, Korea, Morocco and Poland raised a total of 500 million euros on local bond markets.
    In the securitization market, the group placed 624 million euros in automobile loan-backed securities via its German branch. Private securitization transactions in the United States (automobile loans) and in Germany (leasing) saw their revolving period extended by two years.

    Finally, the savings collection activity, launched in 2012 and present in seven European countries (France, Germany, Austria, United Kingdom, Spain, the Netherland and Poland) continues to play a key role in the diversification of financing sources. The deposits collected reached 30.5 billion euros representing 49.1% of net assets at the end of June 2025.

    1 The factoring contracts for short-term rental companies were excluded from 2025 onwards. These contracts represented 32,000 contracts in the first half of 2024, representing a positive impact of 2.8 points on the penetration rate. A hypothetical calculated based on the 2024 figures.

    Press contacts

    William Servigne

    william.servigne@mobilize-fs.com

    Hopscotch PR for Mobilize Financial Services

    +33 (0)1 41 34 23 06

    mobilize@hopscotch.fr

    About Mobilize Financial Services

    Attentive to the needs of all its customers, Mobilize Financial Services, a subsidiary of Renault Group, creates innovative financial services to build sustainable mobility for all. Mobilize Financial Services, which began operations over 100 years ago, is the commercial brand of RCI Banque SA, a French bank specializing in automotive financing and services for customers and networks of Renault Group, and also for the brands Nissan and Mitsubishi in several countries. 

    With operations in 35 countries and over 4,000 employees, Mobilize Financial Services financed more than 1,2 million contracts (new and used vehicles) in 2023 and sold 3,7 million service contracts. 

    At the end of June 2025, average earning assets stood at58.9 billion euros of financing and the pre-tax income at 607 million Euros.

    Since 2012, the group has deployed deposits collecting activity in several countries. At the end of June 2025, the net amount of deposits collected represented 30.5 billion euros, representing 49.1% of the company’s net assets.

    To find out more about Mobilize Financial Services: www.mobilize-fs.com/

    Attachment

    • VDEF UK – CP Résultats du premier semestre 2025 – EN

    The MIL Network –

    August 5, 2025

  • MIL-OSI: Telnyx Supercharges European Voice AI with Paris GPU Edge, Breaking 200ms Latency Barrier

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, July 31, 2025 (GLOBE NEWSWIRE) — Telnyx, the vertically integrated operator powering low-latency voice AI agents, today lit up a new GPU-accelerated Voice-AI Point-of-Presence (PoP) in Paris, France.

    By embedding its inference stack directly inside the same data halls as its pan‑European telephony core, Telnyx now delivers sub‑200 ms round-trip time (RTT) to end users across the continent. RTT, the time it takes for audio to travel from the end user to Telnyx and back, is critical for creating engaging conversations that don’t lag behind the flow of natural speech.

    “Latency is the silent killer of Voice AI,” said Ian Reither, COO of Telnyx. “Every millisecond counts. By colocating our GPU inference with our private backbone in Paris, we’re redefining what ‘real time’ means for European businesses. We shave off delay at its source and deliver voice AI experiences that feel instantaneous and lifelike, without your data ever leaving the region.”

    Built for speed, built for sovereignty

    By performing speech recognition, orchestration, and synthesis directly at the Paris PoP, audio never routes through a distant cloud, sharpening Telnyx’s edge in delivering high-impact Voice AI Agents to customers in Europe.

    Solutions like intelligent IVRs and fully conversational AI agents can reliably handle high-volumes in over 30 languages, while keeping all data and AI prompts within EU borders for full GDPR, DORA, and local retention compliance.

    Momentum that compounds

    The Paris launch caps a summer of rapid Voice AI innovation on the Telnyx platform, designed to give customers the fastest path from prototype to production.

    In-house NaturalHD neural voices to deliver lifelike speech synthesis, one-line web widgets that embed AI agents in minutes, a canary and versioning toolkit for safely A/B testing voice flows, and native MCP server mode for orchestrating complex multi-agent scenarios.

    Powering Europe’s next wave of real-time automation

    From retailers and fintechs to logistics operators and public-sector hotlines, businesses can now deploy compliant, human-like voice agents that route calls, verify transactions, and handle multilingual support quickly, eliminating trans-Atlantic backhaul delays and reducing dependence on costly legacy call centers.

    About Telnyx

    Telnyx is the full‑stack provider powering the future of intelligent, global communications. From private IP infrastructure and GPU‑accelerated inference to lifelike voices, orchestration tools, and carrier‑grade network services, Telnyx delivers everything enterprises need to build next‑generation voice and messaging applications at scale.

    The MIL Network –

    August 5, 2025

  • MIL-OSI Economics: ‘STEM for ALL’ : Thales Joins the Singapore-Industry Scholarship (SgIS) Programme

    Source: Thales Group

    Headline: ‘STEM for ALL’ : Thales Joins the Singapore-Industry Scholarship (SgIS) Programme

    31 Jul 2025

    Share this article

    • As a Sponsoring Organisation with SgIS, Thales will provide Singaporean undergraduate students scholarships in a comprehensive programme that includes internship, mentoring and a starting career with Thales.
    • With this initiative, Thales is extending its ‘STEM for ALL’ programme to Singapore, the first launch outside Europe, with its dedicated mission to advance STEM (Science, Technology, Engineering and Math) education amongst youth.
    • In its inaugural intake, four nominated scholars will undertake engineering or research roles in strategic sectors including air traffic management, public security, cybersecurity and digital identity, working within Thales businesses and research labs like the Thales Digital Factory.
    © Thales

    With engineers comprising one-third of Thales Singapore’s 2000+ employees, the Group has a strong interest in promoting STEM education and growing the next generation of engineering talent. On 29thJuly, Thales was proud to join SgIS as a Sponsorship Organisation at its launch event and to present awards to the scholars, aligning with the government’s mandate to develop young talent in Singapore’s strategic sectors.

    Established in 2012, SgIS is an initiative which partners government and industries to nurture a strong core of Singaporean talent in 16 strategic industries which include Aerospace & Aviation and Engineering. It is the only government-led, multi-industry scholarship under the Ministry of Education which provides talented Singaporean students access to close to 150 Sponsoring Organisations, giving them development opportunities as they further their studies and begin their professional careers.

    Throughout May and June, over 100 potential candidates with diverse skillsets were introduced to Thales by SgIS and invited to an Open Day to get to know Thales’ businesses. From this, over 40 were taken through rigorous technical assessments, following which 12 were further shortlisted for panel interviews with Thales experts and business leaders to further assess their technical expertise and leadership attributes.

    Four talented candidates from the Nanyang Technological University (NTU), the Singapore Institute of Technology (SIT) and the Singapore University of Technology and Design (SUTD) were the final recipients of the Thales award. Currently at different stages in their university education, the four students will progressively join the cybersecurity and digital identity, public security, air traffic management and Thales Digital Factory teams over the next 2 years.

    Expanding the Thales Group’s STEM for ALL Programme to Singapore

    In early 2025, Thales, through its endowment fund Thales Solidarity, launched its STEM for ALL programme in France and Belgium to foster vocation in scientific fields to remarkable young students.

    By partnering the SgIS programme, Thales is extending the Group’s ambition in endorsing STEM education worldwide by reinforcing academic excellence. Singapore is the first country outside of Europe to have a STEM scholarship programme under the STEM for ALL umbrella.

    “Thales recognises the essential role that science and technology play in furthering human progress and creating a world that is safer, greener and more sustainable. Many of the younger generation are passionate about making an impact and we are constantly looking for talented individuals, skilled in STEM, to help bring this ambition to life.” said Emily TAN, Country Director & Chief Executive, Thales in Singapore. “The scholars we selected have strong technical skills which we hope to nurture when they join the Thales family. I believe that their enthusiasm to learn, coupled with the mentorship opportunities and experiences within Thales, will provide a good starting point for their careers.”

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.

    The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies.

    Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.

    About Thales in Singapore

    Thales established its presence in Singapore in 1973 to support the growth of aerospace activities in Asia. Since then, it has grown to be a leading deep-tech company operating in the Aeronautics (including avionics and air traffic management), Defence, Public Security, Cybersecurity & Digital Identity sectors.

    Thales in Singapore runs global industrial operations for avionics and digital identity solutions and has a strong commitment to Research, Technology and Innovation, with Centres of Excellence for radars, naval drones, space, avionics, public security and defence. With over 2000 employees across four locations, Thales is actively supporting Singapore in driving its digital transformation and Smart Nation ambitions.

    MIL OSI Economics –

    August 5, 2025
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