NewzIntel.com

Category: Machine Learning

  • MIL-OSI: Aurora Mobile to Report Fourth Quarter and Fiscal Year 2024 Financial Results on March 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, Feb. 27, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024 before the open of U.S. markets on Thursday, March 13, 2025.

    Aurora Mobile’s management will host an earnings conference call on Thursday, March 13, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

    All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

    Participant Online Registration:
    https://register.vevent.com/register/BIbf61e89bd11b4ab1b44c3257207484d3

    A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Bybit Receives In-Principle Approval to Establish Virtual Asset Platform in the United Arab Emirates

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 27, 2025 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce that it has received its In-Principle Approval (IPA) to set up as a Virtual Asset Platform Operator in UAE from the Securities & Commodities Authority (SCA) of the United Arab Emirates (UAE), dated on Feb 18, 2025. Bybit is also in the final steps to receive its fully operational license soon. This milestone marks a significant step in Bybit’s ongoing mission to provide a secure, stable, and compliant platform for crypto traders in the region.

    This IPA underscores Bybit’s commitment to upholding the highest regulatory and compliance standards as it works toward full operational approval from the SCA. This authorization moves Bybit closer to offering a broad range of digital asset services to both retail and institutional clients in the UAE. Bybit’s progress in UAE follows its existing regulatory approvals in the Middle East, further solidifying its commitment to compliance in key financial hubs.

    Ben Zhou, Co-founder and CEO of Bybit, commented on this milestone:

    “We are honored to have received the IPA from SCA. This approval marks a crucial step in our journey to providing secure and transparent crypto trading solutions. Bybit remains dedicated to working hand-in-hand with regulators to foster a compliant and innovative digital asset ecosystem to both retail and institutional investors in the UAE.”

    The UAE has emerged as a leading global hub for cryptocurrency and blockchain innovation, supported by progressive regulatory frameworks that align with Bybit’s vision of bridging traditional finance with digital assets. Bybit remains committed to adhering to global compliance standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols, ensuring a safe and trusted trading environment.

    Beyond UAE, Bybit continues to secure regulatory approvals worldwide, expanding its presence in key jurisdictions such as India, Georgia, Kazakhstan, Turkey, etc, further reinforcing its regulatory commitment. These licenses enable Bybit to expand its reach while maintaining the highest security and compliance standards for its users worldwide.

    #Bybit / #TheCryptoArk /

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

    For more details about Bybit, please visit Bybit Press

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

    For updates, please follow: Bybit’s Communities and Social Media

    Contact
    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1e76bf0-610d-49d7-96b0-205a12a6828d

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Follow us on social media 
    LinkedIn X Instagram Facebook YouTube 

    The MIL Network –

  • MIL-OSI China: Beijing launches E-level intelligent computing center

    Source: China State Council Information Office 2

    The Beijing Digital Economy Computing Power Center, a state-of-the-art E-level computing center housing supercomputers capable of performing 100 trillion calculations per second, was announced as completed yesterday by Beijing Electronic Digital and Intelligence (BEDI).
    The center, located in Beijing’s Chaoyang district, integrates multiple functional areas and is a key initiative among Beijing’s “300 major projects.”
    BEDI, a state-owned firm that provides computing power and cloud infrastructure for artificial intelligence (AI) applications, developed and now operates the facility.
    The center operates on a “1 base + 2 platforms” structure, with the base consisting of three technological layers.
    The foundation layer houses China’s first large-scale, high-efficiency domestic computing infrastructure. Above this sits the model layer, providing fundamental AI models and development tools. The top operation layer employs digital twin technology and maintenance systems that enable visual monitoring, enhancing overall efficiency and management.
    To promote AI industry growth, the center has established dual platforms for industrial development: one empowering traditional sectors and another accelerating emerging industries. The traditional industry empowerment platform supports multi-industry vertical models, advancing “industrial AI,” while the emerging industry platform focuses on cutting-edge fields, driving AI-powered industrialization.
    The Chaoyang AIGC (AI-generated content) Audiovisual Industry Innovation Center has already been established at the computing center to support high-quality innovation in digital creativity and related sectors.

    MIL OSI China News –

  • MIL-OSI China: AI at core of developing new quality productive forces in Hong Kong: financial secretary

    Source: China State Council Information Office

    Hong Kong will endeavor to develop Artificial Intelligence (AI) as a core industry and empower traditional industries in their upgrading and transformation, the financial secretary of the Hong Kong Special Administrative Region (HKSAR) government said on Wednesday.

    While delivering the 2025-26 budget at the HKSAR’s Legislative Council, Paul Chan said that AI is at the core of developing new quality productive forces. Hong Kong will leverage the edge of “one country, two systems” and its internationalized characteristic to develop the city into an international exchange and cooperation hub for the AI industry.

    Chan said that to spearhead and support Hong Kong’s innovative R&D as well as industrial application of AI, he has set aside HK$1 billion (about $128.69 million) for the establishment of the Hong Kong AI Research and Development Institute.

    To bring together top talents in the industry to study the development and application of AI, the Hong Kong Investment Corporation Limited will host the first International Young Scientist Forum on Artificial Intelligence and the first International Conference on Embodied AI Robot, Chan added.

    Furthermore, the HKSAR government has established the Hong Kong Space Robotics and Energy Center under the InnoHK Research Clusters, with the aim of developing a multi-functional lunar surface operation robot, which will contribute to the country’s Chang’e 8 mission, Chan said.

    MIL OSI China News –

  • MIL-OSI: IDEX Biometrics interim report for the fourth quarter and preliminary result for 2024

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway: IDEX Biometrics ASA’s interim report for the fourth quarter and preliminary result 2024 is attached to this notice, including the fourth quarter 2024 presentation.

    The report and presentation are available on the IDEX Biometrics website:

    www.idexbiometrics.com/investors

    Recent highlights 

    • Certification of IDEX PAY platform allowing manufacturers to certify and launch Biometric Payment Card programs with both Visa and Mastercard globally.
    • Reaching scale manufacturing quality among key partners, enabling them and us to go beyond pilot volumes.
    • IDEX Biometrics partner KONA I becomes first manufacturer certified by Mastercard for both PVC and metal biometric cards.
    • Access: Received an order from DigAware to deliver a biometric sensor solution to enhance their smart badges. DigAware’s new biometric ID badge incorporates RFID radios for emergency situations in environments such as schools, hospitals, and enterprises.
    • Payments: First commercial launch in Japan together with Life Card, subsidiary to AIFUL Japan’s third largest consumer finance company. Life Card’s commercial roll-out is targeted for the first half of 2025.
    • Streamlined global operations and progressed on cost efficiencies, aligning resources with key market priorities and further optimized our workforce.
    • Completed rights issue in November, allowing retail investors to participate at the same terms as shareholders participating in the September capital raise.

    Financial results Q4 2024

    • No product revenues in the fourth quarter.
    • Operating expenses excluding cost of products sold and bad debt provisions amounted to $2.4 million in the fourth quarter, below target at $2.5 million.
    • An accrual for loss on receivables from Zwipe AS amounting to $0.6 million has been included in the fourth quarter of 2024.
    • Net loss in the fourth quarter of 2024 was $2.1 million. The result includes net financial gain amounting to $2.4 million caused by value change of warrants and the derivative related to the convertible debt. Adjusted for these items, the result would have been a net loss of $4.6 million.
    • A non-cash impairment of goodwill amounting to $968 thousand was recorded in the fourth quarter.
    • Cash balance per 31 December 2024 at $2.0 million

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

     

    About IDEX Biometrics 

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

    For more information, visit www.idexbiometrics.com (http://www.idexbiometrics.com)

     

    Trademark Statement

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

     

    About this notice

    This notice was issued by Marianne Bøe, Head of Investor Relations, on 27 February 2025 at 08:00 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to section 5‑6 of the Norwegian Securities Trading Act (STA) and published in accordance with section 5‑12 of the STA.

    Attachments

    The MIL Network –

  • MIL-OSI: Key information relating to the proposed cash dividend to be paid by Subsea 7 S.A.

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 27 February 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that its Board of Directors will recommend to the shareholders at the Annual General Meeting of the Company to be held on 8 May 2025 (the AGM) that a dividend of NOK 13.00 per share be paid, in two instalments, equivalent to a total dividend of approximately USD 350 million.

    Key information relating to the first instalment of the cash dividend to be paid by Subsea 7 S.A. 

    • Dividend amount: 6.5 per share
    • Announced currency: NOK
    • Last day including right: 13 May 2025 for common shareholders / 14 May 2025 for ADR holders
    • Ex-date: 14 May 2025 for common shareholders / 15 May 2025 for ADR holders
    • Record date: 15 May 2025
    • Payment date: 22 May 2025
    • Approval date: the proposed cash dividend is subject to approval at the AGM

    Key information relating to the second instalment of the cash dividend to be paid by Subsea 7 S.A. 

    • Dividend amount: 6.5 per share
    • Announced currency: NOK
    • Last day including right: 28 October 2025 for common shareholders/ 29 October 2025 for ADR holders
    • Ex-date: 29 October 2025 for common shareholders/ 30 October 2025 for ADR holders
    • Record date: 30 October 2025
    • Payment date: 6 November 2025
    • Approval date: the proposed cash dividend is subject to approval at the AGM

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com
    www.subsea7.com

    This information is published in accordance with the requirements of the Continuing Obligations.

    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 27 February 2024 at 08:00 CET.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Development Asia: Ensuring Sustainable, Locally Relevant Vaccine R&D in Resource-Limited Settings

    Source: Asia Development Bank

    Decisions on vaccine platform choice should be context-specific.

    Various vaccine technologies or platforms are available to help the body defend against pathogens (Table 1). While mRNA-based vaccines were the fastest to be developed and the most effective against SARS-CoV-2, the technology is not a solution for all pathogens. Each vaccine platform has its advantages and limitations, and choosing one depends on factors such as the pathogen, immune response, outbreak situation, cost, and ease of manufacturing.

    The understanding of how the human body defends against different pathogens often guides vaccine technology selection. The two major protective, vaccine-induced immune components include: 1) neutralizing antibodies in the blood that can block infection and 2) immune T cells that kill infected cells. For example, the immune system combats bacterial infections through T-cell-dependent antibodies targeting the outer bacterial polysaccharide coating. As a result, most bacterial vaccines use polysaccharide conjugate vaccine technologies.

    Tackling pandemic versus endemic pathogens requires vastly different vaccine development considerations. During a pandemic, rapid vaccine development technologies, such as mRNA, are critical. However, for vaccines against endemic pathogens, priorities may shift to long-term immunity and cost-effectiveness. When developing vaccines in or for populations in low-resource settings, cost and manufacturing complexity are key considerations. Furthermore, up-to-date knowledge of the major circulating pathogen strains—both locally and globally—and their associated epidemiology should inform vaccine development.

    Investment in a range of vaccine platforms is critical for maximizing success.

    As countries tackle a vast range of emerging infectious diseases, experts recommend judicious R&D investments in a variety of platforms, as well as innovations in manufacturing. The “portfolio approach” by the Coalition for Epidemic Preparedness Innovations (CEPI) is a case in point. It refers to the deliberate investment in a diverse range of vaccine platforms. Portfolio diversification enhances overall success by ensuring that different platforms do not share the same features and risks of failure.

    Investment in early-stage R&D is instrumental for understanding how vaccine candidates provide protection and for generating evidence to support early go/no-go decisions in vaccine development. All vaccine R&D investments require a comprehensive assessment to evaluate market demand, barriers to access, and expected public health impact. For example, GAVI’s vaccine investment analysis framework aims to understand and capture the full value of vaccines, including social, economic, and population health benefits.

    CEPI’s 100-day mission proposes to build a global vaccine library to promote coordinated investments and a global collaborative network for rapid content sharing. This initiative aims to build a library of vaccine prototypes and incorporate AI tools to forecast virus variants for high-priority diseases before their emergence.

    Accelerating vaccine development requires multi-stakeholder effort.

    The COVID-19 pandemic highlighted the possibility of drastically shrinking clinical development timelines by combining clinical trial phases and using adaptive trial designs. The use of immune correlates of protection (CoP)—i.e., immune parameters responsible for vaccine-induced protection—also enabled the rapid licensure of several COVID-19 vaccines. This was achieved through bridging studies, where immunology results from completed clinical trials were extrapolated to different populations. Fundamental research on high-priority pathogens is therefore crucial for establishing and validating CoP for future pandemic pathogens. Newer methods, such as controlled human challenge models, offer further potential to provide rapid insights into protection and safety.

    Regulatory agility during the pandemic facilitated the expedited development of safe and high-quality vaccines. Similarly, regional and global collaboration in sharing manufacturing processes and vaccine safety and efficacy data further accelerated vaccine R&D. Therefore, continued data sharing, harmonization of regulatory requirements and resolving intellectual property issues will lead to faster availability of new vaccines during emergencies.

    Limited infrastructure, funding, technical expertise, operational and manpower limitations currently hamper trials in resource-limited countries. Equitable vaccine access may be facilitated through international public-private partnerships in vaccine development and technology transfer. Understanding the magnitude and extent of knowledge and expertise gaps in these countries is important for guiding capacity building initiatives.

    Affordability dictates the success of vaccine development programs in resource-limited countries.

    Innovative strategies are essential in ensuring financial sustainability of vaccine R&D in lower-resourced countries. Design and discovery of new and improved vaccine technologies usually require decades of investment in basic scientific research, which is mostly sustainable in high-resource settings. To level the playing field, initiatives such as the WHO mRNA transfer hub and private and philanthropic joint ventures like Hilleman laboratories are working to make new vaccine technologies more accessible to lower-resource countries through technology transfer mechanisms.

    Additionally, vaccine clinical trials require significant financial investments for setting up infrastructure, capacity development and clinical trial implementation. As a solution, WHO recently set up the Global Clinical Trials Forum to strengthen the clinical trial ecosystem in the Global South and promote domestic financing of clinical trials.

    Table 1: Major Vaccine Platforms and Considerations for Development in Resource Constrained Settings

    MIL OSI Economics –

  • MIL-OSI China: High-tech zones leading AI, new energy forward

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

    China’s national high-tech industrial development zones, the backbone of the country’s forward-looking technology sector, are stepping up the push to cultivate emerging sectors such as humanoid robots, quantum information, new energy storage and synthetic biology, the country’s top industry regulator said on Wednesday.

    The comments came as enterprises in China’s national high-tech industrial development zones contribute around 50 percent of the nation’s research and development expenditure and invention patents. Meanwhile, the zones have become critical hubs for artificial intelligence development, hosting 60 percent of China’s listed AI-related companies and 50 percent of AI unicorns, or startups valued at $1 billion or more, said the Ministry of Industry and Information Technology.

    Yao Jun, head of the MIIT planning department, said that by integrating technological innovation with industrial transformation, China’s national high-tech zones aim to build world-class high-tech parks and innovation hubs, positioning themselves as pioneers in innovation-driven development and high-quality growth.

    In 2024, high-tech zones have demonstrated remarkable progress in fostering innovation and economic development, contributing significantly to the nation’s technological advancement and industrial transformation. The combined GDP of these zones reached 19.3 trillion yuan ($2.67 trillion), marking a year-on-year increase of 7.6 percent.

    Additionally, the zones have attracted significant foreign investment, with newly registered foreign enterprises increasing by 24.6 percent year-on-year in 2024, and the zones accounted for about 40 percent of the nation’s actual use of total foreign investment.

    “By releasing AI application scenario lists and organizing industry-academia collaborative events, high-tech zones have actively promoted the application of AI tech, including AI large language models in key sectors,” said Wu Jiaxi, deputy head of the planning department at the MIIT.

    Companies have also established innovation centers for humanoid intelligent robots and developed on-chip brain-computer interface intelligent interaction systems in these national high-tech zones, the MIIT added.

    Zhou Guangyong, deputy director of the Wuhan East Lake High-Tech Development Zone in Hubei province, said the optoelectronic information sector in the zone surpassed 600 billion yuan in revenue last year. The zone has focused on advancing core technologies, establishing world-class innovation platforms, and fostering industrial clusters in integrated circuits and optical communications.

    Industrial clusters refer to an industrial grouping formed by a large number of companies and institutions in proximity that carry out mutual cooperation and exchanges. It is considered to be an advanced form of industrial division of labor and agglomeration development, and is part of China’s push to pursue high-quality development of manufacturing, experts said.

    According to the MIIT, China’s high-tech zones continue to play a pivotal role in driving innovation, attracting global talent and fostering economic growth, positioning the nation as a global leader in high-tech industries.

    MIL OSI China News –

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

    Source: GlobeNewswire (MIL-OSI)

    Strong Platform performance driving profitability

    Highlights of FY and Q4 2024

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

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

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

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

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

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

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

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

    1 (excluding the divested social card games portfolio)

    Selected KPIs

    Financial Results – Azerion Group N.V.

    in millions of €

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

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

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

    Message from the CEO 

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

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

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

    – Umut Akpinar

    Financial overview

    Revenue

    Q4 2024

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

    FY 2024

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

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

    Earnings 

    Q4 2024

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

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

    FY 2024

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

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

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

    Cash flow

    Q4 2024

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

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

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

    FY 2024

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

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

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

    Capex

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

    Financial position and borrowing 

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

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

    Platform Segment

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

    Selected business highlights in Q4 2024 include:

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

    Platform – Selected Financial KPIs

    Financial results – Platform

    In millions of €

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

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

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

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

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

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

    Advertising – Selected Operational KPIs

    Advertising – Operational KPIs

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

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

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

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

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

    Premium Games Segment

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

    Selected Q4 2024 business highlights

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

    Premium Games – Selected Financial KPIs

    Financial results – Premium Games

    In millions of € 

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

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

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

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

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

    Premium Games – Selected Operational KPIs

    Premium Games – Operational KPIs

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

    Outlook

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

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

    Other information

    Interest-bearing debt

    Interest-bearing debt

    in millions of €

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

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

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

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

    in millions of €

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

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

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

    in millions of €

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

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

    Additional notes:

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

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

    Operating expenses

    Breakdown of Operating expenses

    in millions of €

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

    Condensed consolidated statement of profit or loss and other comprehensive income

    Condensed consolidated statement of profit or loss and other comprehensive income

    In millions of €

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

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

    Condensed consolidated statement of financial position

    Condensed consolidated statement of financial position

    in millions of €

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

    Condensed consolidated statement of cash flow

    Condensed consolidated statement of cash flow

    In millions of €

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

    Definitions

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

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

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

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

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

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

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

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

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

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

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

    Disclaimer and Cautionary Statements

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

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

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

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

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

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

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

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

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

    Contact

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

    Attachment

    The MIL Network –

  • MIL-OSI USA: Murphy Statement On Trump Administration Illegally Terminating Foreign Aid Programs

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    February 26, 2025

    WASHINGTON–U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Foreign Relations Committee, on Wednesday released a statement on the Trump administration’s illegal move to terminate the overwhelming majority of U.S. foreign aid programs.

    “This is further evidence that our country is barreling toward a full-blown constitutional crisis. The administration is brazenly attempting to blow through Congress and the courts by announcing the completion of their sham ‘review’ of foreign aid and the immediate termination of thousands of aid programs all over the world. The wholesale dismantling of USAID and our foreign aid infrastructure has been cloaked in secrecy because they know what they’re doing is illegal. Congressionally appropriated funding must resume, and Secretary Rubio and Pete Marocco must testify before the Foreign Relations Committee to explain themselves immediately.”

    MIL OSI USA News –

  • MIL-OSI Security: Met publishes new Stop and Search Charter

    Source: United Kingdom London Metropolitan Police

    The Met has published a new Stop and Search Charter, shaping the future of how one of policing’s most effective but contentious tactics is used in London.

    The charter, which was co-produced with communities, is the product of a year and a half of engagement with more than 8,500 Londoners of all ages, ethnicities and backgrounds. It is the first time a set of formal commitments on how stop and search is carried out has been agreed to and published in this way.

    Over the past four years, 17,500 weapons were seized as a result of stop and search, including at least 3,500 in 2024. Polling shows that up to 68 per cent of Londoners, including young Londoners, support its use.

    But that support varies depending on who is asked. Many Black Londoners, for example, have told us that stop and search creates tensions between their communities and the police. However, people living in those same communities, which are often among those that suffer most from serious violence and drug-related crime, also tell us that they want us to do more to keep them safe.

    Commissioner Sir Mark Rowley said: “Stop and search is a critical policing tool. Done well, it stops those intent on causing death, injury and fear in our communities. It takes dangerous weapons and drugs off our streets and in doing so, it saves lives.

    “Done badly, it has the potential to burn through trust with those we are here to protect, undermining our founding principle of ‘policing by consent’ and damaging our efforts to keep the public safe.

    “The charter is not about doing less stop and search. It is about doing it better by improving the quality of encounters, informed by the views of the public it is intended to protect.

    “Many of our officers already use their powers in this area very well. They show empathy, they de-escalate and they understand the impact that being stopped and searched can have. They do all that while still recovering dangerous weapons and seizing drugs.

    “The charter commits us to supporting all our officers, through improved training, more supervision and better access to technology, so they can meet that high standard their colleagues are setting.

    “It also gives the community a greater role in the oversight of how, when and where stop and search is used which we hope will help to build trust in a policing tactic that, so often, has been at the root of mistrust.”

    The creation of a Stop and Search Charter was recommended by Baroness Casey in her 2023 review into the culture and standards of the Metropolitan Police.

    The extensive engagement that led to its publication included events held in all 32 London boroughs, three events at New Scotland Yard and open public online sessions.

    The themes that emerged from those engagement events were tested against a wider audience of 8,500 Londoners in a series of surveys.

    The final writing of the charter was led by 80 young people aged between 16 and 23 who were invited to New Scotland Yard to interpret feedback and bring the document together. The charter uses as much of their language and phrasing as possible, in particular where the ‘community expectation’ under each commitment is set out.

    Sir Mark added:“If we are to take the fight to those intent on causing serious violence, fear and intimidation across London then stop and search must form part of that effort. If we allow its contentious nature and the concerns associated with it to force us into doing less of it, then only the criminals win.

    “This charter is particularly powerful because it has been written with communities. We’re immensely grateful to all who stepped forward to work with us. We are committed to this change and to further rebuilding trust by continuing the conversations that have made it possible so far.”

    The charter includes the following commitments:

    A focus on the quality of stop and search encounters

    The MPS will commit to making sure that officers do Stop and Search with professionalism, showing basic forms of respect. Communication and tone are important and the MPS will make sure that officers understand what it feels like to be searched, build relationships with the community and make sure that other officers step in if not done correctly.

    Improved training for officers

    The MPS will commit to improving training so that officers better understand their local community, especially those with protected characteristics. It will train officers to improve communication so it is more professional and empathetic and make sure that officers are confident in de-escalation, humility and delivering GOWISELY*.

    *GOWISELY is a mnemonic used by officers which represents the minimum information to be given during a stop and search. It stands for Grounds for the search, Object/s being searched for, Warrant card to be shown (if the officer isn’t in uniform or if it is requested), Identity of the officer (eg name and shoulder number), Station the officer is based at, Entitlement to a record of the search, Legal power used for the search, making clear that You (the person who has been stopped) are detained for the purpose of a search.

    Improved supervision for officers

    The MPS will commit to a more robust supervision process and a generally more holistic and inclusive approach to Stop and Search. It will conduct regular and random reviews of Stop and Searches and ensure the consequences for poor Stop and Search are effective and allow for progression and change.

    Improved handling of complaints

    The MPS will commit to making sure the complaints process is clearly communicated and accessible to everyone. It will prevent internal bias by ensuring the community are involved with decision making in the complaints process and provide accessible statistics that clearly show how different people are affected.

    Better use of technology 

    The MPS will commit to improving its use of technology to make data and processes more accessible, make feedback easier and explore the possible use of artificial intelligence to identify trends.

    Enhanced independent governance and scrutiny 

    The MPS will commit to independent and consistent community involvement in governance and scrutiny.

    Community involvement in where, when and why stop and search is being used 

    The MPS will commit to working with local communities to regularly discuss when and where Stop and Search is being used. They must listen to the concerns of the community and explain why it is being used to reduce fear and show that it is being used fairly and without prejudice.

    Achieving a better public understanding of stop and search 

    The MPS will commit to educating all Londoners of all ages by way of different communication streams on their rights, the correct process, the reason behind each Stop and Search and raise awareness in general on the power.

    A copy of the charter document is attached to this press release.

    MIL Security OSI –

  • MIL-OSI: Bitget Wallet Introduces Smart Authorization Detection to Safeguard Assets

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 27, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has launched an upgraded authorization detection feature to give users greater control over their assets and enhance security. This upgrade allows users to review all past DApp and token approvals, identify potential risks, and revoke unsafe permissions with a single tap.

    At a time when security concerns are growing in the crypto space, Bitget Wallet reinforces its commitment to providing a safer, more transparent Web3 experience. Many users unknowingly grant excessive permissions that allow DApps to access their assets indefinitely, increasing security risks. Bitget Wallet’s enhanced tool helps users detect these risks by categorizing authorizations as Low, Medium, or High risk. Common high-risk approvals include unlimited token transfers, staking or withdrawal permissions, contract upgrade backdoors, and NFT transfer rights. By updating to version V8.29, users can access the “Approval Detection” feature from the wallet’s homepage to scan and revoke unnecessary or risky authorizations, reducing the chances of unauthorized asset movement.

    As a non-custodial wallet, Bitget Wallet ensures users have full control over their private keys, eliminating counterparty risks associated with centralized platforms. To enhance security, Bitget Wallet employs Multi-Party Computation (MPC) technology, which distributes private key shares across multiple entities, preventing single points of failure. Additionally, it integrates the Double Encryption Storage Mechanism (DESM) for an extra layer of private key protection. To further safeguard transactions, Bitget Wallet’s GetShield security engine continuously scans DApps, smart contracts, and websites, detecting phishing attacks, malicious addresses, and fraudulent contracts before users interact with them.

    Bitget Wallet also collaborates with leading security firms like CertiK, SlowMist, and GoPlus Security, ensuring comprehensive code audits, risk monitoring, and proactive threat detection. Beyond advanced security infrastructure, it offers financial protection through its industry-leading Protection Fund, initially established at $300 million and now valued at $625 million, backed by 6,500 BTC in onchain reserves. This fund serves as a safety net for users in the event of a platform-related security incident. By integrating robust security technology, proactive risk detection, and a transparent protection fund, Bitget Wallet delivers one of the most secure Web3 experiences available today.

    “The recent industry events highlight the importance of true self-custody and strong security measures,” said Alvin Kan, COO of Bitget Wallet. “Security has always been our top priority. We are committed to empowering users with full control over their assets while providing robust security tools and financial protection. With our upgraded authorization detection, MPC technology, and Protection Fund, we continue to set the standard for a safer and more resilient Web3 experience.”

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65645222-e7fe-472d-a62b-6e21f0a2717f

    The MIL Network –

  • MIL-OSI Security: Met publishes new charter shaping the future of stop and search

    Source: United Kingdom London Metropolitan Police

    The Met has published a new Stop and Search Charter, shaping the future of how one of policing’s most effective but contentious tactics is used in London.

    The charter, which was co-produced with communities, is the product of a year and a half of engagement with more than 8,500 Londoners of all ages, ethnicities and backgrounds. It is the first time a set of formal commitments on how stop and search is carried out has been agreed to and published in this way.

    Over the past four years, 17,500 weapons were seized as a result of stop and search, including at least 3,500 in 2024. Polling shows that up to 68 per cent of Londoners, including young Londoners, support its use.

    But that support varies depending on who is asked. Many Black Londoners, for example, have told us that stop and search creates tensions between their communities and the police. However, people living in those same communities, which are often among those that suffer most from serious violence and drug-related crime, also tell us that they want us to do more to keep them safe.

    Commissioner Sir Mark Rowley said: “Stop and search is a critical policing tool. Done well, it stops those intent on causing death, injury and fear in our communities. It takes dangerous weapons and drugs off our streets and in doing so, it saves lives.

    “Done badly, it has the potential to burn through trust with those we are here to protect, undermining our founding principle of ‘policing by consent’ and damaging our efforts to keep the public safe.

    “The charter is not about doing less stop and search. It is about doing it better by improving the quality of encounters, informed by the views of the public it is intended to protect.

    “Many of our officers already use their powers in this area very well. They show empathy, they de-escalate and they understand the impact that being stopped and searched can have. They do all that while still recovering dangerous weapons and seizing drugs.

    “The charter commits us to supporting all our officers, through improved training, more supervision and better access to technology, so they can meet that high standard their colleagues are setting.

    “It also gives the community a greater role in the oversight of how, when and where stop and search is used which we hope will help to build trust in a policing tactic that, so often, has been at the root of mistrust.”

    The creation of a Stop and Search Charter was recommended by Baroness Casey in her 2023 review into the culture and standards of the Metropolitan Police.

    The extensive engagement that led to its publication included events held in all 32 London boroughs, three events at New Scotland Yard and open public online sessions.

    The themes that emerged from those engagement events were tested against a wider audience of 8,500 Londoners in a series of surveys.

    The final writing of the charter was led by 80 young people aged between 16 and 23 who were invited to New Scotland Yard to interpret feedback and bring the document together. The charter uses as much of their language and phrasing as possible, in particular where the ‘community expectation’ under each commitment is set out.

    Sir Mark added:“If we are to take the fight to those intent on causing serious violence, fear and intimidation across London then stop and search must form part of that effort. If we allow its contentious nature and the concerns associated with it to force us into doing less of it, then only the criminals win.

    “This charter is particularly powerful because it has been written with communities. We’re immensely grateful to all who stepped forward to work with us. We are committed to this change and to further rebuilding trust by continuing the conversations that have made it possible so far.”

    The charter includes the following commitments:

    A focus on the quality of stop and search encounters

    The MPS will commit to making sure that officers do Stop and Search with professionalism, showing basic forms of respect. Communication and tone are important and the MPS will make sure that officers understand what it feels like to be searched, build relationships with the community and make sure that other officers step in if not done correctly.

    Improved training for officers

    The MPS will commit to improving training so that officers better understand their local community, especially those with protected characteristics. It will train officers to improve communication so it is more professional and empathetic and make sure that officers are confident in de-escalation, humility and delivering GOWISELY*.

    *GOWISELY is a mnemonic used by officers which represents the minimum information to be given during a stop and search. It stands for Grounds for the search, Object/s being searched for, Warrant card to be shown (if the officer isn’t in uniform or if it is requested), Identity of the officer (eg name and shoulder number), Station the officer is based at, Entitlement to a record of the search, Legal power used for the search, making clear that You (the person who has been stopped) are detained for the purpose of a search.

    Improved supervision for officers

    The MPS will commit to a more robust supervision process and a generally more holistic and inclusive approach to Stop and Search. It will conduct regular and random reviews of Stop and Searches and ensure the consequences for poor Stop and Search are effective and allow for progression and change.

    Improved handling of complaints

    The MPS will commit to making sure the complaints process is clearly communicated and accessible to everyone. It will prevent internal bias by ensuring the community are involved with decision making in the complaints process and provide accessible statistics that clearly show how different people are affected.

    Better use of technology 

    The MPS will commit to improving its use of technology to make data and processes more accessible, make feedback easier and explore the possible use of artificial intelligence to identify trends.

    Enhanced independent governance and scrutiny 

    The MPS will commit to independent and consistent community involvement in governance and scrutiny.

    Community involvement in where, when and why stop and search is being used 

    The MPS will commit to working with local communities to regularly discuss when and where Stop and Search is being used. They must listen to the concerns of the community and explain why it is being used to reduce fear and show that it is being used fairly and without prejudice.

    Achieving a better public understanding of stop and search 

    The MPS will commit to educating all Londoners of all ages by way of different communication streams on their rights, the correct process, the reason behind each Stop and Search and raise awareness in general on the power.

    A copy of the charter document is attached to this press release.

    MIL Security OSI –

  • MIL-OSI: Bigbank AS Results for January 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank started 2025 with continued growth and strong profitability.

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

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

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

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

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

    Bigbank’s financial results for January 2025:

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

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

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

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

    The MIL Network –

  • MIL-OSI: Unifiedpost delivers on strategic refocus and improves balance sheet strength

    Source: GlobeNewswire (MIL-OSI)

    Press  release – Regulated information –  Inside inforrmation

    La Hulpe, Belgium – February 27, 2025, 7:00 a.m. CET – [REGULATED INFORMATION] Unifiedpost Group SA (Euronext: UPG) (Unifiedpost), a leading provider of integrated business communications solutions, presents its results for FY 2024. Unifedpost has executed its strategic priorities, including portfolio rationalisation, while improving its balance sheet strength and operational efficiencies.

    Strategic & Operational Highlights

    • Completed divestments of FitekIN/ONEA and Wholesale Identity Access Business
    • De-risked balance sheet through partial repayment of Francisco Partners’ senior facility loan by €95m
    • Significantly reduced net debt position by ~€ 73m at year-end
    • Enhanced governance structure with a strengthened Board and new CEO
    • Strategic partnerships delivering value creation across key markets

    FY 2024 Financial Highlights – Continuing operations1

    • Reported first contributions from income from client money2 amounting to €0,7m
    • Steady growth in Subscription and Transaction3 revenue of 8,2% y/y and 9,3% y/y, respectively
    • Digital service gross margin (incl. net income from client money) increased by 1,7%pts y/y to 59,7%
    • EBITDA (incl. net income from client money) improved to € -9,2m from € -11,0m in FY 2024

    FY 2025 Guidance (based on current reporting structure)

    • ~25% increase in Subscription revenue, with a gradual improvement expected throughout the year
    • FCF4 positive by year-end

    Commenting on the FY 2024 results, Nicolas de Beco, CEO, remarked: “2024 was marked by strategic refocusing and important structural changes. We have streamlined our business with the completed divestments of FitekIN/ONEA and the Wholesale Identify Access Business, the reduction of complexity and the de-risking of our balance sheet. While our financial performance reflects these necessary adjustments, this marks a key turning point – we have established a solid framework which allows us to move forward with greater clarity and direction. There is strong engagement from our customers, teams, and stakeholders.

    Looking to 2025, we have a clear roadmap and a strong commitment to execution. Our focus will be on selected geographies where e-invoicing regulations are expected to come into force within the next 12-18 months, strengthening strategic partnerships, and embedding payment solutions as a key upselling driver. At the same time, we remain committed to disciplined cost and cash management. As a SaaS business, accelerating growth remains a priority. We have set clear subscription revenue targets for the next 12 months, and with continued discipline, collaboration, and focus, we are well-placed to make progress on our objectives.”

    Key financial figures – Continuing operations1 (unless otherwise stated)

    (EUR thousands) FY 2024 FY 2023 Change (%)
    Group revenue and income from client money 84.273 94.169 -10,5%
    Digital service revenue 47.132 50.336 -6,4%
               Subscription 14.435 13.343 +8,2%
               Transaction 20.192 18.472 +9,3%
    • of which includes income from client money2
    		 723 – N/A
                Other 12.505 18.521 -32,5%
    Traditional communication service revenue 37.141 43.833 -15,3%
    Gross profit digital services (incl. net income from client money) 28.119 29.207 -3,7%
    Gross margin digital services 59,7% 58,0% +1,7%pts
    EBITDA (incl. net income from client money) (9.204) (11.032) 16,6%
    Profit/(loss) for the period (continuing and discontinuing operations)5 71.195 (83.146) N/A
    Cash and cash equivalents at the end of the period6 14.525 22.534 -35,5%

    Portfolio rationalisation and value crystallisation

    Throughout 2024, Unifiedpost executed several strategic divestments of non-core assets that substantially strengthened its financial position while maintaining valuable commercial partnerships.

    In July, Unifiedpost completed the divestment of FitekIN/ONEA for €7,2m and announced the sale of 21 Grams to PostNord Strålfors, which remains subject to regulatory approval from the Swedish Competition Authority.

    In December, Unifiedpost completed the sale of its Wholesale Identity Access Business to Your.World B.V. for an aggregate equity purchase price projected between € 108,4m and € 116,1m, subject to the realisation of the earn-out condition. Unifiedpost has utilised part of the proceeds from the sale of the Wholesale Identity Access business to reduce its debt obligations to Francisco Partners Credit. Upon completion of the transaction, Unifiedpost repaid a principal amount of €75 million, along with accrued and due interest, bringing the total repayment to €94,8 million. The remaining balance is expected to be paid back within 2025.

    Looking ahead, Unifiedpost will continue to evaluate opportunities for divesting non-digital services as part of its strategic focus on core digital offerings and platform development.

    Digital services business

    Both subscription and transaction revenue reported steady growth of 8,2% and 9,3% y/y, respectively. Meanwhile, other revenue decreased from € 18,5m to € 12,5m, reflecting a higher base effect from one-off deals in Q4 2023, and the ending of low margin professional service contracts.

    The gross margin percentage increased by 1,7% pts y/y to 59,7%, driven by two key factors: (i) improvement in cost efficiencies, and (ii) income from client money.

    The income from client money, results from leveraging our network and upselling embedded payment services. Income from client money amounted to € 0,7m in 2024, with momentum building in the fourth quarter.

    Moving forward, Unifiedpost will focus on accelerating subscription revenue growth as a key performance indicator. This growth will primarily be driven by opportunities in core European geographies where regulatory requirements for e-invoicing and digital business communications are expected to come into force within the next 12-18 months. Unifiedpost is positioned to capitalise on these regulatory catalysts, particularly in Benelux, France and Germany, where mandatory e-invoicing requirements will create market opportunities.

    Furthermore, the European Commission’s VAT in the Digital Age (ViDA) initiative represents a shift in digital reporting and e-invoicing requirements across the EU, creating additional momentum for digital adoption. This regulatory framework will require businesses to implement digital solutions for real-time transaction reporting and e-invoicing, aligning with Unifiedpost’s platform capabilities and market positioning.

    Traditional communication services business

    Traditional communication services revenue decreased as expected (€ 37,1m in FY 2024 compared to € 43,8m in FY 2023), driven by a continued shift towards digital solutions and a decrease in managed service volumes. This led to a corresponding reduction in gross profit of € 2,9m. Additionally, the gross margin percentage decreased by 3,0%pts to 23,9%.

    Execution of cost-saving plan 2023-2024

    Unifiedpost launched a cost-saving plan in 2023, resulting in an overall cost decrease of € 5,9m y/y and a decrease in cash outflows of € 6,9m y/y.

    • R&D expenses decreased from € 18,4m y/y to € 17,0m. The cash component within these costs decreased by € 3,2m, while non-cash expenses (amortisation) rose by € 1,8m.
    • G&A expenses decreased from € 34,0m y/y to € 30,9m. Expenses for 2024 included € 0,7m in non-recurring costs directly associated with legal and consultancy costs.
    • S&M expenses decreased from € 21,1m y/y to € 19,6m.

    Significantly reduced net debt position by ~€73m at year end

    As at December 31, 2024, the net debt position amounts to € 29,5m, a decrease of € 72,9m compared to December 31, 2023.
    At the end of 2024, Unifiedpost reported a financial position with cash and cash equivalents totalling € 14,5m, including € 1,2m of restricted cash.

    Management remains committed to achieving a positive free cash flow7 position by the end of 2025. 

    Statement from the external auditor

    We are currently finalising the financial statements for the year ended 31 December 2024. Our independent auditor has confirmed that its audit procedures in relation to the financial information for the year ended 31 December 2024 as included in this press release are substantially completed and have not revealed any material corrections required to be made to the financial information included in this press release. Should any material changes arise during the audit’s finalisation, an additional press release will be issued.

    Investors & Media webcast

    Management will host a live video webcast for analysts, investors and media today at 11:00 a.m. CET.

    To register and attend the webcast, please click here:

    https://unifiedpost-group-full-year-2024-financial-results.open-exchange.net/registration

    A full replay will be available after the webcast at: https://investors.unifiedpostgroup.com/

    Financial Calendar:

    • 17 April 2025: Publication of the Annual Report for 2024
    • 20 May 2025: General Shareholder Meeting
    • 23 May 2025: Publication of the Q1 2025 business update
    • 26 August 2025: Publication of the H1 2025 results (webcast)

    Contact

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

    Consolidated statement of profit or loss and other comprehensive income (unaudited)

    Thousands of Euro, except per share data   For the period ended 31 December
        2024 2023 (*)
           
    Digital services revenues   46.409 50.336
    Digital services cost of services   (18.874) (21,129)
    Digital services gross profit   27,535 29.207
           
    Traditional communication services revenues   37.141 43.833
    Traditional communication services cost of services   (28.282) (32,075)
    Traditional communication services gross profit   8.859 11.758
           
    Research and development expenses   (17.022) (18.414)
    General and administrative expenses   (30.924) (33.961)
    Selling and marketing expenses   (19.592) (21.074)
    Other income / (expenses) – net   (1.160) (72)
    Net impairment losses   – (39.000)
    Loss from operations   (32.305) (71.556)
           
    Net financial income from client money   584 –
    Financial income   268 62
    Financial expenses   (22.998) (15.441)
    Share of profit / (loss) of associates and joint ventures   146 (573)
    Gain upon losing control over a subsidiary   3,972 –
    Loss before tax   (50.333) (87.508)
           
    Corporate income tax   (846) (745)
    Deferred tax   152 243
    LOSS FOR THE PERIOD FROM CONTINUING OPERATIONS   (51.027) (88.011)
           
    Net profit from discontinued operations   122.222 4.865
    PROFIT / (LOSS) FOR THE PERIOD   71.195 (83.146)
    Other comprehensive income / (loss):   (656) (15)
    Items that will not be reclassified to profit or loss, net of tax:      
    Remeasurements of defined benefit pension obligations   (37) 123
    Items that will or may be reclassified to profit or loss, net of tax:      
    Exchange gains arising on translation of foreign operations   104 36
    Exchange losses arising on translation of foreign operations related to discontinued operations   (723) (174)
    TOTAL COMPREHENSIVE PROFIT / (LOSS) FOR THE PERIOD   70.539 (83.161)
    Total loss for the period is attributable to:      
    Owners of the parent   71,031 (83,899)
    Continuing operations   (51,191) (88,764)
    Discontinued operations   122,222 4,865
    Non-controlling interests   164 753
    Total comprehensive loss for the period is attributable to:      
    Owners of the parent   70,375 (83,914)
    Continuing operations   (51,124) (88,604)
    Discontinued operations   121,499 4,690
    Non-controlling interests   164 753
    Profit/(loss) per share attributable to the equity holders of the parent:      
    Basic   1,94 (2,32)
    Diluted   1,94 (2,32)
    Loss from continuing operations per share attributable to the equity holders of the parent:      
    Basic   (1,41) (2,46)
    Diluted   (1,41) (2,46)

    (*) The comparative figures for period ended 31 December 2023 have been restated to reflect the restatement of the profit and loss related to the discontinued operations in accordance with IFRS 5

    Consolidated statement of financial position (unaudited)

    Thousands of Euro   As at 31 December As at 31 December
        2024 2023
           
    ASSETS      
    Goodwill   92.048 113.069
    Other intangible assets   66.725 82.856
    Property and equipment   1.486 7.420
    Right-of-use-assets   9.391 9.734
    Investments in associates   2.400 1.493
    Deferred tax assets   39 776
    Other non-current assets   3.036 2.561
    Non-current assets   175.125 217.909
    Inventories   544 612
    Trade and other receivables   16.494 25.318
    Contingent consideration receivable   7.774 –
    Current tax assets   291 770
    Prepaid expenses   1.483 1.901
    Restricted cash related to client money8   75.798 3.789
    Cash and cash equivalents   14.525 22.534
    Current assets from continuing operations   116.909 54.924
    Assets classified as held for sale   31.250 5.145
    Current assets   148.159 60.069
    TOTAL ASSETS   323.284 277.978
           
    SHAREHOLDERS’ EQUITY AND LIABILITIES      
    Share capital   329.238 326.806
    Costs related to equity issuance   (16.029) (16.029)
    Share premium reserve   492 492
    Accumulated deficit   (164.603) (232.257)
    Reserve for share-based payments   175 1.831
    Other reserve   2.697 (1.581)
    Cumulative translation adjustment reserve   (4.470) (3.851)
    Equity attributable to equity holders of the parent   147.500 75.411
    Non-controlling interests   758 499
    Total shareholders’ equity   148.258 75.910
    Non-current loans and borrowings   29.010 110.517
    Liabilities associated with puttable non-controlling interests     200
    Non-current lease liabilities   6.376 6.193
    Non-current contract liabilities   387 4.430
    Deferred tax liabilities   1.463 4.636
    Non-current liabilities   37.236 125.976
    Current loans and borrowings   5.698 5.059
    Current liabilities associated with puttable non-controlling interests   3.980 7.560
    Current lease liabilities   3.232 3.547
    Trade and other payables   31.127 40.194
    Liabilities related to client money8   75.774 3.736
    Contract liabilities   5.330 13.487
    Current income tax liabilities   410 1.845
    Current liabilities from continuing operations   125.551 75.428
    Liabilities directly associated with assets classified as held for sale   12.239 664
    Current liabilities   137.790 76.092
    TOTAL EQUITY AND LIABILITIES   323.284 277.978

    Consolidated statement of changes in equity (unaudited)

    Thousands of Euro

     

    		  

     

     

     

    		 Share capital Costs related to equity issuance Share premium reserve Accumulated deficit Share based payments Other reserves Cumulative translation adjustment reserve Non-controlling interests Total equity
    Balance at 1 Jan 2024 326.806 (16.029) 492 (232.257) 1.831 (1.581) (3.851) 499 75.910
                         
    Result for the period   – – – 71.031 – – – 164 71.195
                         
    Other comprehensive income / (loss)   – – – (37) – – (619) – (656)
    Total comprehensive loss for the period   – – – 70.994 – – (619) 164 70.539
                         
    Conversion subscription rights   2.432 – – – (1.656) 1.656 – – 2.432
                         
    Current period profit AND OCI of NCI with put option   – – – – – 171 – (171) –
                         
    Changes in carrying value of liabilities associated with puttable NCI   – – – – – 280 – – 280
                         
    Acquisition of 20% of the shares in Unifiedpost d.o.o.   – – – (2.437) – 2.437 – – –
                         
    Release of NCI due to acquisition of 20% of the shares in Unifiedpost d.o.o.   – – – – – (266) – 266 –
                         
    Dividend payments   – – – (965) – – – – (965)
                         
    Other   – – – 62 – – – – 62
                         
    Balance at 31 Dec 2024 329.238 (16.029) 492 (164.603) 175 2.697 (4.470) 758 148.258
    Thousands of Euro

     

     

     

    		 Share capital Costs related to equity issuance Share premium reserve Accumulated deficit Share based payments Other reserves Cumulative translation adjustment reserve Non-controlling interests Total equity
    Balance at 1 Jan 2023 326.806 (16.029) 492 (148.497) 1.813 (2.864) (3.713) 281 158.290
                         
    Result for the period   – – – (83.899) – – – 753 (83.146)
                         
    Other comprehensive income / (loss)   – – – 123 – – (138) – (15)
    Total comprehensive loss for the period   – – – (83.776) – – (138) 753 (83.161)
                         
    Share-based payments   – – – – 18 – – – 18
                         
    Current period profit AND OCI of NCI with put option   – – – – – 535 – (535) –
                         
    Changes in carrying value of liabilities associated with puttable NCI   – – – – – 750 – – 750
                         
    Other   – – – 16 – (3) – – 13
                         
    Balance at 31 Dec 2023 326.806 (16.029) 492 (232.257) 1.831 (1.581) (3.851) 499 75.910

    Consolidated statement of cash flows (unaudited)

    Thousands of Euro For the period ended 31 December
        2024 2023
    CASH FLOWS FROM OPERATING ACTIVITIES      
    Loss for the period   71.195 (83.146)
    Adjustments for:      
    • Amortisation and impairment of intangible fixed assets
    		   20.546 21.332
    • Impairment losses of goodwill
    		   – 38.574
    • Depreciation of property. plant & equipment
    		   1.041 1.489
    • Depreciation of right-of-use-assets
    		   4.129 4.429
    • Impairment of trade receivables
    		   (389) 335
    • Gain on disposal of fixed assets
    		   (15) (33)
    • Financial income
    		   (334) (174)
    • Financial expenses
    		   23.579 15.910
    • (Gain) realised upon losing control over subsidiaries
    		   (124.168) –
    • Loss of remeasurement at fair value less costs to sell for disposal groups
    		   6.342 –
    • Share of profit / (loss) of associate
    		   (146) 573
    • Income tax expense / (income)
    		   3.894 2.319
    • Deferred income tax expense
    		   (841) (1.387)
    • Share-based payment expense / own shares
    		   – 18
    Subtotal   4.833 238
           
    Changes in Working Capital      
    • (Increase) / decrease in trade receivables and contract assets
    		   (5.318)                         6.145
    • (Increase) / decrease in other current and non-current receivables
    		   (448) (61)
    • (Increase) / decrease in inventories
    		   (93) 209
    • Increase / (decrease) in trade and other liabilities
    		   9.420 7.729
    Cash generated from / (used in) operations   8.394 14.260
    Income taxes paid   (1.763) (3.222)
    Net cash provided by / (used in) operating activities   6.631 11.038
           
    CASH FLOWS FROM INVESTING ACTIVITIES      
    Payments made for the purchase of associate   (282) –
    Payments received for divestment of business   114.388 –
    Payments made for the purchase of intangibles and development expenses   (16.015) (16.372)
    Proceeds from the disposal of intangibles and development expenses   415 15
    Payments made for the purchase of property, plant & equipment   (247) (739)
    Proceeds from the disposal of property, plant & equipment   442 17
    Interest received   – 175
    Net cash provided by / (used in) investing activities   98.701 (16.904)
           
    CASH FLOWS FROM FINANCING ACTIVITIES      
    Conversion of subscription rights   2.432 –
    Proceeds from loans and borrowings   2.720 3.913
    Repayments of loans and borrowings – Francisco Partners   (75.000) –
    Repayments of loans and borrowings – other   (6.813) (6.367)
    Repayment of lease liabilities   (4.485) (4.524)
    Interest received   334 –
    Interest paid on loans and borrowings – Francisco Partners   (21.590) (3.286)
    Interest paid on loans and borrowings – other   (1.898) (1.295)
    Net cash provided by / (used in) financing activities   (104.300) (11.559)
    FX impact cash   (487) –
    Net increase / (decrease) in cash & cash equivalents   545 (17.425)
    Cash classified within current assets held for sale   (5.423) (74)
    Cash movement due to change in the consolidation range   (3.131) –
    Net increase/(decrease) in cash & cash equivalents, including cash classified within current assets held for sale   (8.009) (17.499)
    Cash and cash equivalents at the beginning of the period   22.534 40.033
    Cash and cash equivalents at the end of the period   14.525 22.534
           
           
           
               

    About Unifiedpost Group

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

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

    1 Excludes discontinued operations: Wholesale Identity Access Business and 21 Grams

    2 Money a company receives from or holds for, or on behalf of, a client (application IAS 7)

    3 Income from client money is a result of e-payment services and is included in digital services transaction revenue

    4 Free cash flow is defined as net income (i) plus non-cash items in the income statement, (ii) minus cash out for IFRS 16 adjustments, (iii) minus capital expenditure, (iv) minus reimbursement on loans and leasing for the reporting period

    5 Including capital gains from divested transactions

    6 Excluding restricted cash related to client money

    7 Free cash flow is defined as net income (i) plus non-cash items in the income statement, (ii) minus cash out for IFRS 16 adjustments, (iii) minus capital expenditure, (iv) minus reimbursement on loans and leasing for the reporting period

    8 The comparative figures 2023 have been restated to demonstrate the accounting policy related to client money.

    Attachment

    The MIL Network –

  • MIL-OSI: Planisware delivered strong revenue growth, profitability and cash generation in 2024

    Source: GlobeNewswire (MIL-OSI)

    Planisware delivered strong revenue growth, profitability and cash generation in 2024

    • Revenue up +17.4% in constant currencies to € 183.4 million
    • Adjusted EBITDA* up +23.7% to € 64.6 million, representing 35.2% of revenue (+180bps year-on-year)
    • Adjusted FCF* up +24.5% to € 54.6 million, representing a 84.5% cash conversion rate*
    • Proposed dividend representing 50% of profit for the period, above Group policy
    • 2025 objectives:
      • Mid-to-high teens revenue growth in constant currencies
      • c. 35% adjusted EBITDA margin*
      • Cash Conversion Rate* of c. 80%

    Paris, France, February 27, 2025 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its FY 2024 results. Revenue amounted to € 183.4 million, up by +17.3% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +17.4% (€+27.2 million), in line with the 17% to 18% 2024 objective. Recurring revenue amounted to € 162.7 million (89% of total revenue) and was up by +21.0% in constant currencies.

    Adjusted EBITDA1 reached € 64.6 million (+23.7% vs. FY 2023), representing 35.2% of revenue, above the c. 34% 2024 objective. The year-on-year improvement by c. +180 basis points resulted from revenue growth, positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    Current operating profit reached € 51.8 million, up by +20.8% compared to FY 2023 and Profit for the period amounted to € 42.7 million.

    Cash generation was particularly strong with adjusted FCF* reaching € 54.6 million, up by +24.5% year-on-year. It represented a cash conversion rate* of 84.5%, above the c. 80% 2024 objective. Net cash position* was € 176.1 million as of December 31, 2024, compared to € 142.6 million as of December 31, 2023 and € 156.4 million as of June 30, 2024.

    Loïc Sautour, CEO of Planisware, commented: “In 2024, Planisware continued to deliver sustainable and profitable growth. Despite significant uncertainties in the macroeconomic and geopolitical context, our clients continued to trust Planisware for their digital transformation and operational excellence efforts. These close relationships enabled us to deliver a robust revenue growth.

    We also delivered profitability and cash generation above this year’s objectives thanks to the continuous positive mix effect of our activities and further efficiencies on employee-related costs, in particular on R&D spendings benefitting from increased usage of AI tools.

    In parallel, Planisware’s CSR efforts were recognized by the EcoVadis gold medal award, the all-round Great Place to Work certification, and by a satisfying B score for our first rating by CDP. These distinctions illustrate Planisware’s rapid progress and ongoing commitment to building a more responsible society.

    For 2025, taking into account our strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, we set the mid-to-high teens range for revenue growth objective. We also intend to maintain a strong profitability and to keep delivering a best-in-class cash conversion rate.”

    FY 2024 revenue by revenue stream

    To address the needs of strategic defense-sector clients who require mission-critical solutions to operate on their own infrastructures rather than through Cloud-based SaaS, Planisware has introduced a new delivery mode that includes annual licenses. These multi-year agreements allow the solution to be licensed on a yearly basis. Planisware anticipates that this innovative delivery mode will be particularly relevant for companies with specific security and sovereignty requirements. Planisware reports this line of revenue for the first time in 2024, within its recurring revenue (under Planisware’s SaaS model), since first such contracts was signed in Q4 2024.

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 162.7 134.7 +20.8% +21.0%
    SaaS & Hosting 82.0 64.6 +27.1% +27.1%
    Annual licences 1.1 – N/A N/A
    Evolutive support 48.7 42.0 +16.0% +16.3%
    Subscription support 11.9 9.4 +26.5% +26.4%
    Maintenance 19.1 18.8 +1.8% +1.8%
    Non-recurring revenue 20.7 21.1 -1.7% -1.7%
    Perpetual licenses 7.5 5.7 +30.8% +30.8%
    Implementation & others non-recurring 13.3 15.4 -13.8% -13.8%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

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

    Reaching € 183.4 million in 2024, revenue was up by +17.3% in current currencies and +17.4% in constant currencies. The exchange rates effect was almost mostly related to the appreciation of the euro versus the Japanese yen compared to FY 2023. In order to reflect the underlying performance of the Company independently from exchange rate fluctuations, the following analysis refers to revenue evolution in constant currencies, applying FY 2023 average exchange rates to FY 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 89% of 2024 total revenue versus 86% in 2023, recurring revenue reached € 162.7 million, up by +21.0%.

    Revenue growth was led by +24.1% growth of Planisware’s SaaS model (i.e. SaaS & Hosting, Evolutive & Subscription support, and Annual licenses), of which SaaS & Hosting revenue was up by +27.1% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +18.1%. Finally, Annual licenses contributed for €+1.1 million in Q4 2024.

    Maintenance revenue was up by +1.8% in the context of the Group’s shift from its prior Perpetual license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was slightly down by -1.7% over the year, with a contrasted trend of Perpetual licenses up by +30.8% and Implementation down by -13.8%.

    Perpetual licenses benefited from a strong demand for extensions and upgrades from existing customers with specific on-premises needs, mostly in the defense industry. On the other hand, Planisware’s focus on shorter implementations and faster delivery to customers, combined with project start delays, led to revenue decline in Implementation.

    FY 2024 revenue by region

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Europe 87.2 76.1 +14.7% +14.5%
    North America 80.3 68.5 +17.3% +17.3%
    APAC & ROW 15.9 11.2 +41.8% +44.0%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

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

    In 2024, all key geographies contributed to Planisware revenue growth, although with contrasted contributions for each semester of the year:

    • Representing 44% of total revenue in 2024, North America strongly contributed to year-end growth (+19.0% in H2 2024) after having faced elongated customer’ decision-making processes translating into slower growth in non-recurring activities and Implementation services in particular over the first periods of the year (+15.6% in H1 2024). All in all, thanks to a significant level of cross-selling and up-selling with existing customers and new customer wins, North America grew by +17.3% over the year.
    • By contrast, after a decent growth in H1 2024 (+18.1%) driven in particular by strong dynamics in Germany, revenue growth in Europe significantly slowed down in H2 2024 (+11.4%) due to macroeconomic uncertainties and political concerns in France as well as difficulties seen in some of the Group’s key verticals such as automotive. As a result, revenue in Europe grew by +14.5% in 2024.
    • Planisware’s growth in APAC & rest of the world of +44.0% resulted from a strong commercial momentum in Japan, Singapore, and the Middle East, as well as from the consolidation of IFT KK and, to a lesser extent, of Planisware MIS.

    FY 2024 revenue by pillar

    In € million FY 2024 FY 2023 Variation
    YoY    		 Variation
    in cc*
    Product Development & Innovation 97.8 87.5 +11.8% +11.9%
    Project Controls & Engineering 37.2 27.4 +35.7% +35.6%
    IT Governance & Digital Transformation** 32.2 26.8 +20.2% +20.1%
    Project Business Automation 15.9 13.6 +16.5% +17.0%
    Others 0.4 0.4 -5.7% -5.7%
    Revenue with customers 183.4 155.7 +17.8% +17.9%
    Other revenue – 0.7    
    Total revenue 183.4 156.4 +17.3% +17.4%

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

    In 2024, all key pillars contributed to Planisware’s revenue growth with the most recent ones ramping-up as growth relays:

    • Product Development & Innovation (“PD&I”) drives R&D and product development teams with a focus on companies in the life sciences, manufacturing and engineering, automotive design and fast-moving consumer goods sectors. In 2024, it remained Planisware’s principal pillar, with 53% of total revenue and +11.9% growth, resulting from both new customer wins and the expansion of offerings to existing customers.
    • Project Controls & Engineering (“PC&E”) supports production teams in industries with sophisticated products, plants and infrastructure, such as aerospace and defense, energy and utilities, manufacturing and engineering and life sciences. While still a recent pillar for Planisware, it represented 20% of 2024 total revenue. Supported by the successful roll-out of offerings in North America, PC&E grew by +35.6%.
    • IT Governance & Digital Transformation (“IT&DT)** helps IT teams across all sectors develop comprehensive solutions to automate IT portfolio management, accelerate digital transformation and simplify IT architecture. IT&DT represented 18% of 2024 total revenue and grew by +20.1%, fueled by continuous cross-sell to Planisware clients needing to accelerate their digital transformation.
    • Project Business Automation (“PBA”) supports companies in all industries that seek to increase their revenue-based projects and enhance their operating results through automated processes. Due to a more recent entry of Planisware in the market relating to this pillar, PBA represented only 9% of 2024 total revenue and was up by +17.0% thanks to new customer wins and cross-selling.

    Commercial dynamic

    In 2024, despite elongated sales cycles, Planisware welcomed a significant number of new clients from a wide range of industries, further diversifying its customer base and solidifying its position as a trusted partner for organizations of all sizes. Revenue growth is driven both by contracts with new customers and the expansion of Planisware’s solutions and services within its existing customer base.

    In 2024, Planisware’s customer loyalty remained high, as translated in the 121% Net Retention Rate* (NRR), reflecting Planisware ability to grow within its installed base. At 2.2% of revenue, 2024 churn rate* remained low thanks to Planisware’ ability to leverage strong product capabilities and high industry recognition, resulting in high customer loyalty.

    FY 2024 key financial figures

    In € million FY 2024 FY 2023 Variation
    YoY
    Total revenue 183.4 156.4 +17.3%
    Cost of sales -50.1 -45.1 +11.1%
    Gross profit 133.3 111.3 +19.8%
    Gross margin 72.7% 71.2% +150 bps
    Operating expenses -81.5 -68.4 +19.1%
    Current operating profit 51.8 42.9 +20.8%
    Other operating income & expenses -5.7 3.0  
    Share of profit of equity-accounted investees**              – 0.3 -100.0%
    Operating profit 46.1 46.2 -0.1%
    Profit for the period 42.7 41.8 +2.1%
           
    Adjusted EBITDA* 64.6 52.2 +23.7%
    Adjusted EBITDA margin* 35.2% 33.4% +180 bps
           
    Adjusted FCF* 54.6 43.8 +24.5%
    Cash Conversion Rate* 84.5% 84.0% +60 bps
    Net cash position* 176.1 142.6 +23.5%

    * Net of tax
    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    Gross profit

    Cost of sales increased by €+5.0 million (or +11.1%) year-on-year to € 50.1 million. As a percentage of revenue, cost of sales decreased by -150 basis points thanks to a continued strict monitoring of costs, in particular with respect to recruitment, and the internalization of outsourced services.

    This enabled Planisware to deliver a € 133.3 million gross profit (+19.8% year-on-year), representing a 72.7% gross margin, a significant improvement of c. +150 basis points compared to 71.2% in 2023.

    Operating profit

    R&D expenses, consisting primarily of staff expenses directly associated with R&D teams, as well as amortization of capitalized development costs and the benefits from the French research tax credit, reached € 22.2 million and represented 12% of revenue compared to 13% in 2023. While Planisware intends to maintain a high level of R&D spending, the R&D efficiency improves thanks to the deployment of AI tools, boosting the Group’s ability to leverage its R&D efforts to provide innovative products and software solutions, expand its offering portfolio and promote its offerings in the project management market. In 2024, capitalized development costs amounted to € 2.5 million, +21.9% compared to € 2.0 million in 2023.

    Reaching € 33.3 million in 2024 (18% of revenue), Sales & marketing expenses increased by +23.1% compared to 2023, led in particular by the increase in employee-related costs in the salesforce and marketing team. Sales & marketing expenses are expected to increase in absolute amounts in the future as Planisware plans on strengthening its leading market position.

    Representing 14% of revenue in 2024, as in 2023, General & administrative expenses reached € 26.0 million. Planisware continued to strengthen its global support functions to contribute to the growth of the business and the international expansion of the Group. Planisware expects that, as the Company continues to scale up in the future, General & administrative expenses will slightly decrease as a percentage of revenue.

    As a result, current operating profit reached € 51.8 million in 2024, up by +20.8% compared to 2023.

    Other operating income & expenses amounted to a net expense of € 5.7 million related to IPO costs.

    As a results of the above, operating profit reached € 46.1 million in 2024, stable compared to € 46.2 million in 2023, which benefited from € 7.5 million non-taxable gains on remeasurement at fair value of investments in associates.

    Adjusted EBITDA

    Adjusted EBITDA** reached € 64.6 million, a strong increase compared to 2023 (€+12.4 million, or +23.7%). It represented 35.2% of 2024 revenue, c. +180 basis points compared to 33.4% in 2023. The increase of adjusted EBITDA reflects the revenue growth, a positive mix effect, and further efficiency gains on employee-related costs, in particular on R&D spending benefitting from increased usage of AI tools.

    Profit for the period and dividend

    Reaching € 5.4 million in 2024, financial income significantly increased compared to € 2.5 million in 2023. This was primarily driven by income from time deposits and realized and unrealized gains on marketable securities, as well as foreign exchange gains and losses arising from the revaluation at closing rates of cash and cash equivalents held in foreign currencies.

    Income tax expense amounted to € 8.8 million in 2024, up by +27.8% compared to € 6.9 million in 2023, in line with taxable profit increase.

    As a result of these evolutions, profit for the period reached € 42.7 million in 2024, up by +2.1% compared to 2023.

    Finally, subject to the approval of the Annual General Meeting of the Company’s shareholders and effective approbation of 2024 consolidated financial statements by the Board of directors, and in line with its historical dividend distribution, the Group will pay a dividend representing 50% of its profit for the period. This would represent € 21.4 million or € 0.31 per share.

    Cash generation and net cash position

    Reflecting the growth of subscription contracts billed in advance of the services rendered, change in working capital was €+2.5 million, compared to €+3.6 million in 2023 which benefited from a catch-up effect form negative change in 2022. Capital expenditures totaled € 5.5 million, representing 3.0% of revenue, compared to € 4.9 million in 2023 (3.1% of revenue), in line with the usual c. 3% level targeted. Tax paid in 2024 was € 8.4 million compared to € 7.5 million in 2023.

    As a result, Cash Conversion Rate* reached 84.5%, above the 80% level that the Group considers being the normative Cash Conversion Rate for the coming years, and adjusted Free Cash Flow* totaled € 54.6 million, +24.5% compared to € 43.8 million in 2023.

    As of December 31, 2024, except for lease liabilities related to offices and datacenter facilities which amounted to € 17.0 million (€ 14.9 million as of December 31, 2023) and small amounts of bank overdrafts, Planisware did not have any financial debt. As a result, the Group’s net cash position* as of December 31, 2024 amounted to € 176.1 million, compared to € 142.6 million as of December 31, 2023.

    2025 objectives

    Taking into account its strong commercial pipeline on one hand and uncertainties in the timing of contract starts and the evolution of sales cycle length on the other hand, Planisware’s 2025 objectives are:

    • Mid-to-high teens revenue growth in constant currencies
    • c. 35% adjusted EBITDA margin*
    • Cash Conversion Rate* of c. 80%

    Appendices

    Q4 2024 revenue by revenue stream

    In € million Q4 2024 Q4 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 44.7 38.3 +16.7% +16.2%
    SaaS & Hosting 22.4 17.9 +25.3% +24.8%
    Annual licences 1.1 – N/A N/A
    Evolutive support 12.8 12.2 +5.0% +4.6%
    Subscription support 3.4 3.1 +9.8% +9.0%
    Maintenance 5.0 5.1 -2.5% -2.8%
    Non-recurring revenue 5.2 5.8 -11.2% -11.5%
    Perpetual licenses 1.3 2.1 -36.4% -36.7%
    Implementation & others non-recurring 3.8 3.7 +3.1% +2.8%
    Total revenue 49.9 44.1 +13.0% +12.5%

    * Revenue evolution in constant currencies, i.e. at Q4 2023 average exchange rates

    Non-IFRS measures reconciliations

    In € million FY 2024 FY 2023
    Current operating profit after share of profit of equity-accounted investee 51.8 43.2
    Depreciation and amortization of intangible, tangible and right-of-use assets 7.7 7.2
    Share-based payments 5.1 1.9
    Adjusted EBITDA** 64.6 52.2
    In € million FY 2024 FY 2023
    Net cash from operating activities 59.0 47.3
    Capital expenditures -5.5 -4.9
    Other finance income/costs -4.7 -2.8
    IPO costs paid 5.7 4.2
    Adjusted Free Cash Flow** 54.6 43.8

    ** Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document

    FY 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on February 27, 2025 at 8:00am CET to details FY 2024 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • April 29, 2025:                 Q1 2025 revenue publication
    • June 19, 2025:                 Annual General Meeting of shareholders
    • July 31, 2025:                 H1 2025 results publication
    • October 21, 2025:         Q3 2025 revenue publication

    Contact

    About Planisware

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

    With circa 750 employees across 16 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit: https://planisware.com/ and connect with Planisware on LinkedIn.

    Disclaimer

    The primary financial statements for the year ended December 31, 2024 were approved by the Board of Directors on February 26, 2025. The audit procedures and verifications related to the information contained in the sustainability report are in progress. The full consolidated financial statements will be published on completion of these procedures.

    Forward-looking statements

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

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

    Rounded figures

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

    Variation in constant currencies

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

    Non-IFRS measures

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

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

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.
    • Net Retention Rate (NRR) is the percentage of recurring revenue generated in a given year compared to the prior year by customers’ existing in the prior year, excluding terminated contracts, in constant currency.
    • Churn rate is defined as percentage of recurring revenue generated in year N-1, by customers terminating in year N, compared to recurring revenues generated by clients existing at the start of year N, in constant currency.

    1 Non-IFRS measure. Non-IFRS measures included in this document are defined in the disclaimer at the end of this document.

    Attachment

    The MIL Network –

  • MIL-OSI: Intchains Group Hosts Ask Me Anything session with Aleo Co-Founder Howard Wu to Explore the Future of Crypto Mining

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 27, 2025 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG), a leader in efficient altcoin mining solutions, hosted an Ask Me Anything (AMA) session on X with Aleo co-founder and CEO of Provable, Howard Wu, to explore the future of crypto mining, hardware acceleration, and zero-knowledge proof (ZKP) advancements. The discussion underscored ICG’s role in shaping next-generation mining technologies and expanding the Aleo ecosystem. Goldshell, a subsidiary of ICG is excited to contribute to the Aleo ecosystem by providing mining hardware that complements Aleo’s vision.

    Goldshell’s AE BOX Series: The First ASIC Miner for ALEO

    ICG, through Goldshell, launched the AE BOX and AE BOX PRO on 7 February 2025, as the first mining products designed specifically for ALEO, marking a milestone for Aleo in advancing decentralised, privacy-focused mining hardware. Wu praised the AE BOX PRO for its fast setup, high proof security capabilities, and zero-knowledge optimisation. Unlike GPUs, which mine multiple cryptocurrencies, the AE BOX Series features Aleo-optimised chips for superior efficiency. As the first company to release such a product, Goldshell cements its leadership in altcoin mining innovation.

    Enhancing Mining Security: Aleo’s ARC-0043 Upgrade

    Aleo is set to introduce the ARC-0043 proposal, a major technological advancement that enhances mining security and efficiency of Aleo’s mining and overall network operations. The upgrade will implement a new puzzle algorithm, increasing computational complexity and improving ZK-SNARK verification speed. This will significantly reduce block verification time while incentivising hardware advancements.

    The implementation timeline for ARC-0043 is estimated at six months, during which testing will be conducted on both testnet and mainnet environments.

    Enhancing Mining Profitability with Innovations

    A key takeaway from the discussion was the shift towards specifically-designed products for Aleo. While older GPUs face profitability challenges, newer models, such as the 4070S and 4080, remain viable. With the introduction of specialised miners, it will not only make Aleo mining more profitable, mining efficiency and security are also set to improve significantly.

    The Shift of Mining for Aleo

    As Aleo’s ecosystem grows, partnerships and decentralised applications (dApps) are becoming integral to its development. Wu emphasised the importance of community contributions, inviting developers to participate in upcoming initiatives, including the workshops on Aleo programming.

    For the full summary and recording of key takeaways from the AMA, please visit Goldshell’s official website.

    For more information about ICG, please visit https://intchains.com/ and follow ICG on LinkedIn and X.

    About Intchains Group

    Intchains Group Limited (ICG) is a company that engages in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies, and the active development of innovative Web3 applications.

    Contacts:

    Intchains Group Limited

    Investor relations
    Email: ir@intchains.com

    Redhill Communications

    Muhammad Rahmat
    Tel: +65 9277 4846
    Email: muhammad.rahmat@redhill.asia

    Belinda Chan
    Tel: +852-9379-3045
    Email: belinda.chan@creativegp.com

    The MIL Network –

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

    Source: Samsung

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

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

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

    MIL OSI Economics –

  • MIL-OSI China: National high-tech zones host two-thirds of unicorn firms

    Source: China State Council Information Office

    China’s national high-tech industrial development zones have become major bases for startups valued at over 1 billion U.S. dollars, according to the Ministry of Industry and Information Technology.

    The country’s 178 national high-tech industrial development zones were home to approximately 67 percent of China’s unicorn firms by the end of 2024, the ministry told a press conference on Wednesday.

    These zones housed about one-third of the country’s high-tech enterprises and 46 percent of its “little giant” firms, which refer to the novel elites among small and medium-sized enterprises that are engaged in manufacturing, specialize in a niche market and boast cutting-edge technologies.

    Notably, these zones host approximately 60 percent of the country’s publicly listed artificial intelligence (AI) companies and about half of its AI unicorns, the ministry said.

    These zones registered steady economic growth last year, with their total gross domestic product up 7.6 percent year on year in nominal terms.

    These high-tech zones also achieved fruitful results in opening-up and international cooperation, with total import and export volumes of goods and services hitting 9.5 trillion yuan, representing a 2.5 percent year-on-year growth.

    To boost their technological and industrial innovation, the government will combine zone development with strategic national sci-tech resources, and step up its cultivation of gazelle and unicorn companies, according to ministry official Wu Jiaxi. 

    MIL OSI China News –

  • MIL-OSI Submissions: Tech – Bridgetown Research raises $19M from Lightspeed and Accel to deploy AI business research agents

    Source: Stockwood Strategy

    Bridgetown Research is building the first AI agents focussed on research and analysis using primary and secondary data for verticals including private equity, consulting and strategy

    Seattle, Washington – February 26, 2025: Strategic business decisions have traditionally been expensive and slow for a fundamental reason: they don’t happen enough. This means companies lack both historical data to learn from and experts who have seen enough similar cases. Bridgetown Research is changing that. Today, the AI decision science startup announced $19 million in Series A funding led by Lightspeed and Accel, with participation from a leading research university.
     
    Bridgetown Research has developed AI agents that autonomously execute research. Most notable amongst these agents are voice bots trained to recruit and interview industry experts, gathering primary data that can be analyzed alongside alternative data sourced from their partners.
     
    Founded by Harsh Sahai, who previously led machine learning teams at Amazon before leading strategy engagements at McKinsey & Co., Bridgetown Research was born from a simple observation: the majority of business analyses are a permutation of a small number of automatable tasks. The founding team, comprising former professionals from McKinsey, Bain, Amazon, and leading tech startups, brings together extensive experience across strategy consulting and technology.
     
    “We are excited to be a catalyst for change. We are working with multiple private equity firms, management consulting firms, and corporate teams to help make strategic decisions better and faster. This in turn is driving up demand for advisory and information services downstream. We enable $10+ of advisory and information services revenue for every $1 we make. Together with leading institutions, we’re building something bigger than ourselves—an ecosystem where everyone thrives,” commented Harsh Sahai, CEO & founder of Bridgetown Research.
     
    While many AI solutions focus on searching and summarizing information using LLMs, real world business decisions require much more than synthesising the open web. They need proprietary data such as primary data from experts and customer surveys, along with frameworks to understand markets, what Harsh Sahai calls “ontologies”. Moreover, outputs need to be repeatable and auditable for a business to use them to make decisions with tens of millions of dollars at stake. Bridgetown Research is the only player using agents to gather primary data and systematically find patterns in it to generate original insights.
    “AI is causing widespread disruptions across many enterprise functions, and Bridgetown Research is riding that wave by assisting executives in making important strategic decisions. We are pleased to see Bridgetown serving several marquee customers, with users likening its platform to having a team of top-tier consultants at their fingertips. We are excited to partner with Harsh, who, with his background as an ace AI research scientist turned management consultant, blends a unique combination of skills and insight needed to imagine this whole new category of applied AI,” said Anagh Prasad, Investor at Accel.

    Bridgetown Research started with a focus on private equity deal screening diligence. Multiple top-tier PE & VC firms already use Bridgetown Research for deal screening and deeper commercial diligence. They’re able to screen their pipeline much faster with initial analysis taking 24 hours instead of weeks without Bridgetown enabling teams to focus on actual decision making instead of research and analysis. For other customers Bridgetown has enabled voice of customer conversations that cover hundreds of respondents in parallel, and within days.
     
    Ishaan Preet Singh, Investor at Lightspeed added “Companies are built on the quality of strategic decisions, and the research and analysis behind it. Bridgetown Research enables the smartest executives and investors to make these decisions with an order of magnitude more information, and at a pace that was earlier impossible. Harsh and Bridgetown are already creating immense value for their customers, but are still just scratching the surface of the leverage that AI can create.”

    As global markets become increasingly complex, the demand for efficient and effective decision-making tools continues to rise. With this funding round, Bridgetown Research plans to invest further in training its AI agents to perform a broader set of analyses across a broader range of domains, and deepening industry partnerships to enhance access to domain-specific intelligence.

    About Bridgetown Research
    Bridgetown Research builds AI agents for decision research. Its voice agents and web crawlers find and clean data, while its analyses agents produce repeatable, auditable, and reliable analyses. The team consists of computer scientists, econometricians, software engineers, investors and business consultants, working across geographies. For more information please visit https://www.bridgetownresearch.com/

    About Accel
    Accel is a global venture capital firm that aims to be the first partner to exceptional teams everywhere (Facebook, Flipkart, etc.), from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Infra.Market, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Mensa Brands, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit: www.accel.com
     
    About Lightspeed
    Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox, Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Physics Wallah, Razorpay, Rubrik, Sharechat, Snap, OYO Rooms, Ultima Genomics, Zepto and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com

    MIL OSI – Submitted News –

  • MIL-OSI China: Chinese FM holds talks with New Zealand deputy PM

    Source: China State Council Information Office

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing, China, on Feb. 26, 2025. [Photo/Chinese Ministry of Foreign Affairs]

    Chinese Foreign Minister Wang Yi held talks with Deputy Prime Minister and Foreign Minister of New Zealand Winston Peters in Beijing on Wednesday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that China-New Zealand relations have maintained sound, steady development and have long been at the forefront of China’s relations with Western countries.

    China is ready to work with New Zealand to implement the important consensus reached by the leaders of the two countries, strengthen strategic communication, and push forward their comprehensive strategic partnership, he said.

    Wang noted that the two sides should adhere to the principle of mutual respect and the correct understanding of each other, and become partners with mutual trust. Certain specific differences can be resolved properly through constructive dialogue.

    Wang said that the two countries should upgrade their economic and trade cooperation, launch negotiations on the negative list for trade in services as soon as possible, and work together to create new growth engines such as artificial intelligence and the green economy.

    Wang said that China has implemented a unilateral visa-free travel policy for New Zealand, and hopes that New Zealand will continue to provide a good environment for Chinese students and overseas Chinese citizens.

    The Asia-Pacific region is the shared home of China and New Zealand, and China respects New Zealand’s traditional relations with Pacific island countries, Wang said.

    Noting that China is an important partner of New Zealand, Peters said that New Zealand will, as always, adhere to the one-China policy and looks forward to developing closer exchange practices with China at all levels. New Zealand also stands ready to strengthen exchange and cooperation with China in fields such as the economy, trade, agriculture and defense, as well as Antarctica, and to deepen communication and coordination on regional and international affairs.

    New Zealand is willing to strengthen cooperation with China within multilateral institutions, and to push for the greater development of bilateral relations, Peters said.

    MIL OSI China News –

  • MIL-OSI Submissions: Tech and Business – Oracle Services Power IT Modernization in Asia Pacific

    Source: Information Services Group, Inc.

    Enterprises embrace providers with GenAI tools to improve enterprise cloud migrations, optimize Oracle investments, ISG Provider Lens report says.

    A growing number of enterprises in Asia Pacific are seeking Oracle ecosystem services to help them carry out digital transformations to remain competitive in rapidly changing markets, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific finds many large Oracle customers are modernizing legacy systems, navigating cloud migrations and evaluating hyperscale cloud options. Service providers are helping clients optimize their Oracle investments, often with the use of AI tools, while Oracle is increasingly investing in talent development and collaboration in the region, including partnerships with governments in Singapore, Australia and India for large-scale training programs.

    “Companies in Asia Pacific need digital transformation to stay relevant,” said Michael Gale, partner and regional leader, ISG Asia Pacific. “Oracle and its partners are rising to the challenge by strengthening their expertise and developing talent in the region.”

    Large organizations in manufacturing, retail, financial services, consumer packaged goods and the public sector are increasing their use of Oracle services, the report says. In addition to modernization planning and execution, many seek help addressing regional nuances such as data sovereignty and compliance requirements, especially in India, Singapore, Malaysia, Australia and New Zealand.

    Outdated legacy systems are holding back many organizations in the region, leading to rising demand for both consulting and advisory services to plan modernization initiatives, ISG says. To reach strategic goals and maximize Oracle investments, enterprises seek providers that demonstrate domain expertise and the ability to innovate. Carrying out transitions with minimal disruption and consistent data integrity is a key requirement.

    Companies seeking to maintain Oracle performance and uptime amid cost, compliance and complexity challenges are driving up demand for managed services in Asia Pacific, the report says. Comprehensive services allow clients to optimize resource management, enhance productivity and focus on strategy.

    More enterprises in the region are adopting Oracle Cloud Infrastructure (OCI), often leveraging local data centers and integrating advanced tools, ISG says. A key requirement is the availability of generative AI for process automation and management of multicloud environments. Companies give priority to service providers that offer comprehensive support for Oracle and non-Oracle environments and enhance integration across cloud platforms.

    “Enterprises in Asia Pacific are choosing leading OCI providers with a strong local presence,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Along with competitive pricing and proven track records in Oracle migrations, this fosters trust.”

    The report also examines other trends affecting Oracle users in Asia Pacific, including enterprises consolidating providers of comprehensive application management services and the impact of OCI’s recently introduced interoperability across AWS, Azure and Google Cloud.

    For more insights into the challenges faced by enterprises using Oracle in Asia Pacific, see the ISG Provider Lens Focal Points briefing here.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific evaluates the capabilities of 28 providers across four quadrants: Consulting and Advisory Services, Implementation and Integration Services, Managed Services and OCI Solutions and Capabilities.

    The report names Accenture, Cognizant, Deloitte, HCLTech, Infosys, LTIMindtree, TCS, Tech Mahindra and Wipro as Leaders in all four quadrants. It names PwC as a Leader in three quadrants and KPMG as a Leader in two quadrants. Capgemini is named as a Leader in one quadrant.

    In addition, Capgemini, DXC Technology and Kyndryl are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

    In the area of customer experience, Capgemini is named the global ISG CX Star Performer for 2024 among Oracle Cloud and Technology Ecosystem providers. Capgemini earned the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of the ISG Star of Excellence program, the premier quality recognition for the technology and business services industry.

    The 2024 ISG Provider Lens Oracle Cloud and Technology Ecosystem report for Asia Pacific is available to subscribers or for one-time purchase on this webpage.

    About ISG Provider Lens Research

    The ISG Provider Lens Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

    About ISG

    ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

    MIL OSI – Submitted News –

  • MIL-Evening Report: Whales sing when they’ve had a good meal – new research

    Source: The Conversation (Au and NZ) – By Ted Cheeseman, PhD Candidate, Marine Ecological Research Centre, Southern Cross University

    Stock Photos Studios/Shutterstock

    Spanning more octaves than a piano, humpback whales sing powerfully into the vast ocean. These songs are beautifully complex, weaving phrases and themes into masterful compositions. Blue and fin whales richly fill out a bass section with their own unique versions of song.

    Together, these three species can create a marvellous symphony in the sea.

    Published today in PLOS One, our new research reveals these baleen whale species’ response to major changes in their ecosystem can be heard in their songs.

    Food for long-distance travel

    The six-year study took place in whale foraging habitat in the eastern North Pacific, off the coast of California in the United States. From this biologically rich foraging habitat, the whales migrate long distances each year to breeding habitats at lower latitudes.

    They eat little to nothing during their migration and winter breeding season. So they need to build up their energy stores during their annual residence in foraging habitat.

    This energy, stored in their gigantic bodies, powers the animals through months of long-distance travel, mating, calving, and nursing before they return to waters off California in the spring and summer to resume foraging.

    The whales eat krill and fish that can aggregate in massive schools. However, their diets are distinct.

    While blue whales only eat krill, humpback whales eat krill and small schooling fish such as anchovy. If the prey species are more abundant and more densely concentrated, whales can forage more efficiently. Foraging conditions and prey availability change dramatically from year to year.

    We wanted to know if these changes in the ecosystem were reflected in the whales’ acoustic behaviour.

    Piecing together a complex puzzle

    To track the occurrence of singing, we examined audio recordings acquired through the Monterey Accelerated Research System. This is a deep-sea observatory operated by the Monterey Bay Aquarium Research Institute and funded by the US National Science Foundation.

    Analysis of sound recordings is a highly effective way to study whales because we can hear them from quite far away. If a whale sings anywhere within thousands of square kilometres around the hydrophone, we will hear it.

    Yet, piecing together the complex puzzle of whale behavioural ecology requires diverse research methods.

    Our study used observations of the whales, including sound recordings, photo identification and diet analysis. It also used measurements of forage species abundance, characterisation of ecosystem conditions and theoretical modelling of sound propagation.

    Our ability to probe the complex lives of these giants was enhanced for humpback whales because we had a unique data resource available for this species: extensive photo identification.

    The Happywhale community science project combines photos supplied by researchers and ecotourists, and identification enabled by artificial intelligence, to recognise individual whales by the shape and coloration of their flukes.

    This unique resource enabled us to examine the local abundance of humpback whales. We could also study the timing of their annual migration and how persistently individual whales occupied the study region.

    Scientists used a deep-sea hydrophone to keep a nearly continuous record of the ocean soundscape.
    MBARI

    An increase in food – and in song

    The study began in 2015, during a prolonged marine heatwave that caused major disruption in the foraging habitat of whales and other animals throughout the eastern North Pacific.

    All three whale species sang the least during the heatwave, and sang more as foraging conditions improved over the next two years.

    These patterns provided the first indications that the singing behaviour by whales may be closely related to the food available. Remarkably, whale song is an indicator of forage availability.

    Further evidence was found in the striking differences between humpback and blue whales during the later years of the study.

    Continued increases in detection of humpback whale song could not be explained by changes in the local abundance of whales, the timing of their annual migration, or the persistence of individuals in the study region.

    However, humpback song occurrence closely tracked tremendous increases in the abundances of northern anchovy — the largest increase in 50 years. And when we analysed the skin of the humpback whales, we saw a clear shift to a fish-dominated diet.

    In contrast, blue whales only eat krill, and detection of their songs plummeted with large decreases in krill abundance. Our analysis of blue whale skin revealed they were foraging over a larger geographic area to find the food they needed during these hard times in the food web.

    Humpback song occurrence closely tracked tremendous increases in the abundances of northern anchovy.
    evantravels/Shutterstock

    Predicting long-term changes

    This research shows listening to whales is much more than a rich sensory experience. It’s a window into their lives, their vulnerability, and their resilience.

    Humpback whales emerge from this study as a particularly resilient species. They are more able to readily adapt to changes in the ecology of the foraging habitats that sustain them. These findings can help scientists and resource managers predict how marine ecosystems and species will respond to long-term changes driven by both natural cycles and human impacts.

    At a time of unprecedented change for marine life and ecosystems, collaboration across disciplines and institutions will be crucial for understanding our changing ocean.

    This work was enabled by private research centres, universities and federal agencies working together. This consortium’s past work has revealed a rich new understanding of the ocean soundscape, answering fundamental questions about the ecology of ocean giants.

    Who knows what more we will learn as we listen to the ocean’s underwater symphony?

    The study’s findings can help scientists better understand how blue whales and other baleen whales respond to long-term changes in the ocean.
    Ajit S N/Shutterstock

    This work was led by John Ryan, a biological oceanographer at the Monterey Bay Aquarium Research Institute (MBARI), with an interdisciplinary team of researchers from MBARI, Southern Cross University, Happywhale.com, Cascadia Research Collective, University of Wisconsin, NOAA Southwest Fisheries Science Centre, University of California, Santa Cruz, Naval Postgraduate School, and Stanford University.

    Ted Cheeseman is the co-founder of citizen science project, Happywhale.

    Jarrod Santora receives funding from NOAA, NASA, and NSF.

    – ref. Whales sing when they’ve had a good meal – new research – https://theconversation.com/whales-sing-when-theyve-had-a-good-meal-new-research-250926

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Video: Kaine Speaks on Senate Floor Ahead of Vote to Terminate Trump’s Sham Energy Emergency

    US Senate News:

    Source: United States Senator for Virginia Tim Kaine

    BROADCAST-QUALITY VIDEO OF KAINE IS AVAILABLE HERE.

    WASHINGTON, D.C. – Today, U.S. Senator Tim Kaine (D-VA) spoke on the Senate floor to highlight the ways President Donald Trump’s war on American-made energy—including through his sham national energy emergency—will raise costs and cost Americans good-paying jobs. Later today, the Senate will vote on legislation led by Kaine and U.S. Senator Martin Heinrich (D-NM) to terminate President Trump’s emergency declaration.

    “President Trump took a number of actions on his first day in office, and many of them got a lot of attention. One that didn’t get so much attention was his decision on day one—on day one—to declare that the United States was in an energy emergency,” said Kaine.

    “I am proud to stand here and tell you, especially as one who has supported many of the policies that has led to this growth in American energy, that America is producing more energy today than at any point in the history of this nation. America is the leader in the world in energy production, and for the last few years, we’ve been an energy surplus nation, producing more than we consume,” Kaine continued.

    Kaine said, “Donald Trump and his Administration are attacking wind projects. They’re attacking solar projects. They’re attacking clean energy projects that aren’t oil, coal, natural gas, and nuclear, and by doing so, they’re reducing supply and likely raising prices on American consumers.”

    “There are a number of projects in Virginia, as an example, that benefited from tax breaks included either in the Inflation Reduction Act for clean energy projects or the Bipartisan Infrastructure Law for rollout of electric vehicle charging,” Kaine said. “President Trump’s Administration has attacked those projects, has put them on hold, and the Virginians who were intending to invest billions of dollars hiring people to build these projects are now uncertain about what they can do.”

    “This would be more than a horrible policy… It would also set a horrible precedent—a precedent that a president of either party can invent a sham emergency and then grab away from Congress powers that Congress has under Article One,” Kaine concluded. “We took an oath to a Constitution that gives Congress certain powers. We should not let the President trample on those powers.”

    In the hours following his inauguration on January 20, 2025, President Trump signed a slew of executive orders, including the national energy emergency order, to withdraw support for renewable energy—despite its benefits to America’s economy and environment—and grant his administration new powers to promote fossil fuels at the cost of bedrock environmental laws. Specifically, the emergency will benefit Big Oil by giving his unelected Cabinet officials the power to oversee the accelerated approval of fossil fuel projects, including oil drilling rigs and pipelines, and explore the use of eminent domain to take Americans’ land for the “siting, production, transportation, refining, and generation” of non-solar and non-wind-related energy production.

    Last week, Kaine and Heinrich held a press conference with environmental leaders to urge their colleagues to support their legislation to end the emergency.

    MIL OSI USA News –

  • MIL-OSI USA: Ernst Ensures Relief for Iowa Poultry Farmers, Consumers

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), a member of the Senate Committee on Agriculture, Nutrition, and Forestry, secured critical relief for Iowa poultry farmers who have been affected by highly pathogenic avian influenza (HPAI) while simultaneously moving forward a strategy to drive down egg prices for consumers.
    Following an announcement from Secretary of Agriculture Brooke Rollins that the U.S. Department of Agriculture (USDA) will be implementing many of Ernst’s recommendations to enhance the agency’s response to the ongoing outbreak, Ernst continued to amplify the experiences of producers at today’s Senate Agriculture Committee hearing.
    She emphasized the impact of the outbreak on Iowa producers and asked witnesses about the importance a vaccination strategy to protect laying hens and turkeys from the virus while also maintaining export access to international markets.

    Watch her full line of questioning here.
    Download audio from Senator Ernst here.
    “In the last few months, we have seen over 7 million birds just in Iowa alone that have been impacted, and unfortunately, it is a number that continues to grow every single day — even with farmers who are adopting the heightened biosecurity protocols and states that are implementing strict movement controls,” said Ernst. “While there is a significant amount of work ahead — I am thankful that this remains a top priority for the administration — and we did see earlier today Secretary Rollins announcing several steps she is taking to mitigate the ongoing outbreak.”
    Background:
    Ernst has long been a champion of foreign animal disease prevention and preparedness efforts including the bipartisan Animal Disease and Disaster Prevention, Surveillance, and Rapid Response Act and her Beagle Brigade Act, which was recently signed into law.
    Following the increase in HPAI outbreaks in both Iowa poultry flocks and dairy herds, she has also worked to hold federal agencies accountable to provide public and state agencies with coordinated, up-to-date, and accurate information on the spread of HPAI. Most recently, she has worked directly with President Trump’s USDA togive a roadmap for HPAI response.

    MIL OSI USA News –

  • MIL-OSI USA: SBA “Gutted its Civil Service Workforce Around the Country,” Writes Cantwell in Letter to Administrator Loeffler

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    02.26.25
    SBA “Gutted its Civil Service Workforce Around the Country,” Writes Cantwell in Letter to Administrator Loeffler
    Small Business Administration provides education and financial support to entrepreneurs, including disaster relief loans Sen. Cantwell joined all Democratic members of the Senate Committee on Small Business and Entrepreneurship in letter demanding that Administrator Loeffler end arbitrary firings & review their legality
    WASHINGTON, D.C. – Last week, U.S. Senator Maria Cantwell (D-WA), a senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, joined the Democratic members of the Small Business Committee in sending a letter to Small Business Administration (SBA) Administrator Kelly Loeffler. The letter demands answers on the recent arbitrary mass firings by the Trump administration of SBA public servants, including loan and disaster assistance staff and veterans.
    “Over the past week, the Small Business Administration (SBA) has taken unprecedented personnel actions that have gutted its civil service workforce around the country,” wrote the Senators in the letter. “This includes the firing of hundreds of SBA employees serving their probationary work period. Yet, SBA has provided us with no direct information about these terminations, including why they were undertaken, the number and identities of fired employees, or which SBA offices were impacted.”
    The Senators continued, “In order to ensure small businesses continue to receive the SBA services they need to thrive, we request the following: First, put an immediate stop to the arbitrary firings of career civil servants and reinstate them immediately, with backpay. Second, have your Deputy Inspector General conduct a thorough review of the SBA’s actions to ensure that any termination was lawful. And third, promptly brief the Committee’s minority staff on SBA’s recent personnel actions and its plan to implement the President’s deferred resignations and RIF executive order.”
    The SBA provides several key services to small business owners in Washington state, including educational programs, and financial support like disaster relief loans.
    The Senators’ letter asks the Administrator to direct the Deputy Inspector General to undertake this thorough review because President Trump recently fired the SBA Inspector General when he illegally fired at least 17 Inspectors General (IGs) in a mass Friday night firing, leaving a vacancy in that position.  Last week, Sen. Cantwell joined 26 Senate Democrats in filing an amicus brief in support of a lawsuit brought by eight of those fired IGs challenging their illegal firings by Trump.  The former SBA IG is one of the plaintiffs in that suit challenging Trump’s unlawful action.
    In a January meeting with former Sen. Kelly Loeffler (R-GA), President Donald Trump’s then-nominee to lead the SBA, Sen. Cantwell emphasized the critical importance of aid to small businesses following disasters. Earlier that month, the SBA opened two Disaster Loan Outreach Centers in Washington specifically to help businesses and residents who incurred losses during the November 2024 bomb cyclone that struck Washington state.
    In June 2024, Sen. Cantwell introduced the Small Business Artificial Intelligence Training and Toolkit Act, which would authorize the Department of Commerce to work with the SBA to create and distribute artificial intelligence resources and tools to help small business leverage AI in their operations.
    The State of Washington is home to 672,472 small businesses, making up 99.5 percent of all WA businesses and employing 1.4 million workers, or 48.4% of all Washington employees. Between March 2022 and March 2023, small businesses created 61,763 new jobs, accounting for 80.5 percent of all net job creation in WA.
    The full text of the letter is available HERE.

    MIL OSI USA News –

  • MIL-OSI Australia: ATO welcomes ANAO audit report on Governance of AI

    Source: Australian Department of Revenue

    The Australian Taxation Office (ATO) welcomes the release of the Australian National Audit Office’s (ANAO’s) report on the Governance of Artificial Intelligence (AI) at the ATO. The ANAO’s report provided 7 recommendations, which the ATO agrees with in full, supporting our commitment to managing taxpayer data with integrity and ensuring ethical decision making in everything we do.

    Noting the rapidly changing nature of data and analytics, the ATO recognises the importance of robust governance, oversight, and accountability to support the development and use of analytical models that are ethical, safe and deliver fit for purpose outcomes.

    We take our responsibility around data ethics and data stewardship extremely seriously. The ATO only uses AI technologies in limited ways that recognise the importance of security, privacy, transparency and the ethical use of data with appropriate human oversight.

    The ATO appreciates the opportunity to assist the ANAO benchmark its approach to conducting similar AI use and governance audits in the future, as well as providing insights to other Australian Public Service (APS) agencies.

    We acknowledge what is considered leading practice for AI use and governance is still evolving and we will continue to not only strive to achieve leading practice, but also assist the broader APS. We are expanding our policies and guidance to reference AI more explicitly, noting our existing data and analytics (including data governance and ethics) and IT policies already broadly apply to our use of AI.

    Our approach will always focus on ensuring we have human oversight over our use of AI, and decision making that adversely impacts taxpayers is always made by a human.

    The ANAO report includes 7 recommendations which will assist the ATO in further strengthening our AI governance. The ATO has agreed to all 7 recommendations in full, and will continue to enhance our AI frameworks, focusing on:

    1. Improving alignment between our automation and AI (A&AI) strategy to meet enterprise-wide program and project management requirements.
    2. Clearly defining and communicating enterprise-wide organisational structures and governance arrangements supporting our adoption of AI, including defining accountabilities and responsibilities at the model and system level.
    3. Reviewing our ‘misuse of data and analytics’ enterprise risk and the associated controls, and explicitly incorporating controls relating to the impact of AI on this risk.
    4. Improving our arrangements in support of the design, development, deployment and use of AI that aligns with ethical principles.
    5. Progressing the development and implementation of AI specific policies and guidance to support the effective design, development, deployment and assurance of AI models.
    6. Establishing performance measurement and evaluation arrangements for our automation and AI strategy.
    7. Ensuring our approach to managing information supports transparency and accountability with respect to its adoption of AI.

    We will continue to implement and build on the recommendations identified to help us evolve and remain current in the face of rapidly advancing AI capability, and ensure we leverage AI in a safe way to create a better tax system for all Australians.

    MIL OSI News –

  • MIL-OSI: Rate Partners with NASCAR’s Ricky Stenhouse Jr. to Fast-Track Homebuying at EchoPark Automotive Grand Prix

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 26, 2025 (GLOBE NEWSWIRE) — Speed wins — on the track and in the real estate market. That’s why Rate, a leader in fintech mortgage solutions, is teaming up with NASCAR driver Ricky Stenhouse Jr. and Hyak Racing for the EchoPark Automotive Grand Prix on March 2, 2025, at the Circuit of The Americas in Austin, Texas.

    Stenhouse, a Daytona 500 champion known for tearing up the track, will race in the #47 car backed by Rate, bringing together two forces built for speed, precision, and relentless execution.

    “Rate is a powerhouse in mortgages, and I’m a beast on the track, so we’ve got a lot in common,” said Stenhouse. “Top teams behind us, driven to win, and damn fast — all day, every day. If you’re ready to move on a home purchase, hit up Rate.com.”

    Fast Track to Homeownership

    In today’s housing market, speed is everything. Buyers who move fast win — and Rate is leading the charge with lightning-fast pre-approvals, real-time underwriting, and automated income and asset verification.

    “When it comes to buying a home, speed wins,” said Scott Stephen, Chief Growth Officer for Rate. “Rate offers mortgage approvals in mere minutes, giving buyers a real edge in a market where every second counts.”

    And the numbers back it up. According to Rate’s 2024 Homebuying Survey:

    • 67% of homebuyers say the mortgage process is stressful — and slow approvals are a top frustration.
    • 43% of buyers make multiple offers before landing a home — speed is the advantage.
    • 37% of buyers say pre-approvals take 3-5 days — Rate cuts that down dramatically.

    The 2024 Homebuying Survey revealed that homebuyers face overwhelming stress, decision-making challenges, and a lack of confidence when it comes to the mortgage process. With Rate Intelligence, Rate’s AI-powered mortgage technology, homebuyers get ultra-fast approvals with unmatched accuracy — just like Stenhouse’s precision on the track.

    Train Like a Champion

    Beyond speed, wellness matters. That’s why Stenhouse is joining Rate’s Train Like a Champion (TLAC) platform, a wellness initiative featuring elite pro athletes like MMA champion Julianna Peña, NFL quarterback Jameis Winston, and pro pickleball star Grayson Goldin.

    “Staying sharp — physically and mentally — is how I keep my edge on race day,” said Stenhouse. “Strength training, meditation, nutrition — it all matters. And the same tools that keep me focused are right in the Rate App. From guided breathing to better sleep, it’s got everything you need to stay in the zone — on or off the track.”

    Win Big with Rate

    Fans can win exclusive prizes by following Rate’s social channels this week:

    • An autographed Ricky Stenhouse Jr. racing helmet (disclaimer here)
    • Two VIP passes to the EchoPark Automotive Grand Prix

    Review the Official Rules for the Grand Prix here.

    Austin, Tech, and Innovation

    The EchoPark Automotive Grand Prix kicks off just days before SXSW, when global tech leaders descend on Austin. Rate is bringing that same innovation to mortgages — cutting through red tape with industry-leading fintech solutions that make buying a home faster and easier than ever.

    Get ready. The green flag is waving. Visit Rate.com to get in the race.

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate is the #2 retail mortgage lender in the U.S., with over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Media Contact

    press@rate.com

    The MIL Network –

  • MIL-OSI USA: Senator Marshall Introduces Legislation to Halt Dangerous Viral Gain of Function Research

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall
    Washington, DC – U.S. Senator Roger Marshall, M.D. (R-Kansas) today introduced the Dangerous Viral Gain of Function Research Moratorium Act, which calls for the immediate halt of dangerous gain-of-function (GOF) research. GOF research aims to genetically alter a virus or organism to gain or lose function on its transmissibility or pathogenicity. Most evidence suggests the COVID-19 virus is more than likely the product of GOF research conducted in Wuhan, China. Senator Marsha Blackburn (R-Tennessee) is a cosponsor of the legislation. 
    Senator Marshall has repeatedly called for complete transparency and accountability from the federal government regarding the origins of the COVID-19 pandemic. Part of this responsibility requires that all present and future gain-of-function research be halted immediately due to safety concerns.
    “History has proven that viruses can escape even the most secure labs, and gain-of-function research can kill more people than a nuclear weapon,” said Senator Marshall. “The Dangerous Viral Gain-of-Function Research Moratorium Act is critical to ensure the federal government immediately ceases funding for this irresponsible, high-risk work. The era of unaccountable taxpayer-funded science done in the name of ‘global health’ needs to end.”
    “If the COVID pandemic taught us anything, it’s that we cannot allow gain-of-function research to do more harm than good,” said Senator Blackburn. “This legislation would halt all federal research grants involving risky gain-of-function research on potential pandemic pathogens until oversight is improved and safety guardrails become a guarantee.”
    “This bill from Senator Dr. Roger Marshall (R-KS) to stop federal funding of dangerous gain-of-function research is a common sense solution to preventing the next laboratory-acquired infection from becoming another pandemic,” said Dr. Steven Quay, M.D., PhD., Physician-Scientist and CEO of biopharmaceutical company Atossa Therapeutics.
    Click HERE to read the bill text.
    Background:
    In 2024, Senate Democrats blocked Senator Marshall’s effort to pass similar legislation.
    In 2014, The Obama Administration ordered a pause on all gain-of-function research due to increased leaks and infectious material spills from laboratories receiving government dollars.
    In 2017 – with key cabinet appointments vacant or pending Senate confirmations – the National Institute for Health (NIH) successfully advocated for lifting the moratorium.
    Reports released from the Republican-led Select Subcommittee on the Coronavirus Pandemic concluded that “the Wuhan Institute of Virology used NIAID money to conduct ‘gain-of-function’ studies that modified distantly related coronaviruses,” an outcome which undoubtedly led to the global COVID-19 pandemic via a lab-leak. 
    To learn more about Senator Marshall’s oversight efforts of GOF research, click here.

    MIL OSI USA News –