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Category: Eurozone

  • MIL-Evening Report: Ultra fast fashion could be taxed to oblivion in France. Could Australia follow suit?

    Source: The Conversation (Au and NZ) – By Rowena Maguire, Professor of Law and Director of the Centre of Justice, Queensland University of Technology

    Ryan McVay/Getty

    For centuries, clothes were hard to produce and expensive. People wore them as long as possible. But manufacturing advances have steadily driven down the cost of production. These days, clothing can be produced very cheaply. In the 1990s, companies began churning out fast fashion: low cost versions of high end trends. In the 2010s came ultra fast fashion, where clothes are produced extremely rapidly and intended to be almost disposable.

    Ultra fast fashion is deeply unsustainable. Producing it is energy intensive and many low quality items go rapidly to landfill.

    In response, France is planning to add a A$16 tax to each item of ultra-fast fashion, require mandatory environmental disclosures and ban advertising and influencer promotions.

    To date, Australia has done little about the problem – even though every Australian bought an average of 53 new pieces of clothing as of 2023 and we send 220,000 tonnes of clothes to the dump annually. Responses so far have focused on voluntary schemes, which have done little to help. Policymakers should look overseas.

    Ultra-fast fashion companies such as Shein and Temu would be targeted by new French laws, if they are passed.
    Arnaud Finistre/Getty

    Why is ultra fast fashion such a problem?

    About 117 billion pieces of clothing were purchased worldwide in 2023 – about 14 pieces per person. That’s well beyond the limit of five new garments per year experts recommend if we’re to live within our planetary boundaries.

    There are many problems with buying too many cheap clothes. Textile manufacturing is surprisingly energy intensive. At present, the industry is responsible for about 2% of global emissions and this is expected to rise steadily. Millions of barrels of oil are used each year to make synthetic fibres such as polyester.

    Ultra fast fashion items rely heavily on synthetic fibres. When washed, they produce large volumes of microplastics which go into rivers and oceans. The European Union estimates textiles account for about 20% of freshwater pollution annually. Many ultra cheap clothing items have question marks over how ethically they were produced. Nearly all of these cheap clothes only have one owner before going to the dump.

    Australia’s response is minimal

    Australia has no national policy on clothing. Circular economy policies and strategies at both federal and state levels don’t tend to focus on textiles.

    Australian consumer laws regulate greenwashing of products. In 2023, Australia’s peak competition regulator flagged the textile industry as one with a high rate of concerning claims.

    Similarly, Australia’s modern slavery laws require large corporations to identify and address risks of slave labour in their operations. Fashion brands often source materials and labour from regions with high exploitation risks Unfortunately, these laws don’t have penalties attached.

    These laws are positive, but still far from the EU’s large-scale efforts to regulate the textile industry.

    One promising effort is the voluntary Seamless textile scheme. Voluntary schemes like these are often used as a way to introduce reforms to a previously unregulated sector or industry.

    The goal of this scheme is to help brands take responsibility for the entire lifespan of the garments they make or sell. Participating brands and retailers pay a levy which is used to promote clothing repair and rental, expand recycling and run information campaigns. Seamless is meant to help the industry prepare for a potential mandatory scheme in the future. Former Federal Environment Minister Tanya Plibersek said she was “not afraid to regulate” last year, but nothing has happened since.

    To date, participation has been very limited. Around 60 brands and retailers have signed up. Ultra-fast fashion brands such as Temu and Shein aren’t covered by the scheme, as they’re based overseas.

    Ultra-fast fashion rapidly turns into rubbish.
    Ernest Rose/Shutterstock

    Time for laws with teeth?

    France’s planned ultra fashion laws are directly aimed at high-volume, low-cost clothing producers with binding measures such as taxes and advertising bans. If the laws come into effect, France would likely see a substantial drop in the flows of these clothes and the textile waste produced.

    By contrast, Australia’s efforts so far aren’t changing things. The Seamless scheme is voluntary, while greenwashing and modern slavery laws rely on disclosures and lack enforcement powers and penalties.

    It wouldn’t be easy. At present, Australia lacks laws focused on textiles, while responsibility for clothing imports is split between different government departments and levels of government. The issue of fast fashion often hits local governments hardest in the form of increased waste volumes, for instance, but local governments have no power over the problem. If policymakers did introduce a French-style tax, they would face resistance from the industry and from some consumers.

    The upside? France’s approach is far more likely to actually curb the damage done by ultra-fast fashion.

    Rowena Maguire receives funding from United Nations Environment Program – Legal Division.

    – ref. Ultra fast fashion could be taxed to oblivion in France. Could Australia follow suit? – https://theconversation.com/ultra-fast-fashion-could-be-taxed-to-oblivion-in-france-could-australia-follow-suit-259559

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Doctors shouldn’t be allowed to object to medical care if it harms their patients

    Source: The Conversation (Au and NZ) – By Julian Savulescu, Visiting Professor in Biomedical Ethics, Murdoch Children’s Research Institute; Distinguished Visiting Professor in Law, University of Melbourne; Uehiro Chair in Practical Ethics, The University of Melbourne

    HRAUN/Getty

    A young woman needs an abortion and the reasons, while urgent, are not medical. A United States Navy nurse at Guantánamo Bay is ordered to force-feed a defiant detainee on hunger strike.

    These very different real-life cases have one connecting thread: the question of whether a health professional can conscientiously object to carrying out a patient’s request.

    Freedom of conscience is often held up as a purely noble principle. But when it’s used to deny health care, it means a single person’s beliefs are dictating what is best for another person’s physical and mental health – which can have devastating, even fatal, results.

    In our recent book, Rethinking Conscientious Objection in Healthcare, colleagues and I conclude doctors should not be free to make medical decisions based on their personal beliefs.

    It’s not noble to refuse care

    Freedom of conscience is strongly – but not absolutely – protected under international human rights law. It is enshrined in the Universal Declaration of Human Rights.

    This principle has often been used for moral purposes: for example, to resist orders to torture or kill.

    But after researching use of conscientious objection by health professionals, I have concluded it is seriously flawed when used to deny patients health services. This is especially so when particular doctors have a monopoly on service provision, as is the case with abortion and assisted dying in many rural and regional areas of Australia.

    In Australia, doctors are allowed to conscientiously object to abortion, although nearly all states require referral to other service providers or information about how to access the relevant service.

    In practice, these laws are not enforced and sometimes disregarded.

    A doctor’s refusal can mean patients can be denied the standard of care they need, or indeed, any care at all.

    Health-care professionals are not like pacifists refusing conscription into the military, opposing something forced upon them. They freely choose health-care careers that come with obligations and with ethical stances already established by professional codes of conduct.

    People are free to hold whatever beliefs they choose, but those beliefs will inevitably close off some options for them. For example, a vegetarian will not be able to work in an abattoir. That is true for every one of us. But what shouldn’t happen is a doctor’s personal beliefs closing off legitimate options for their patient.

    4 guiding questions

    Instead of personal values, there are four key secular principles we propose that doctors should rely on when deciding how to advise patients about sensitive procedures:

    • is it legal?

    • is it a just and fair use of any resources that might be limited?

    • is it in the interests of the patient’s wellbeing?

    • is it what the patient has themselves decided they want?

    Of course, there will be times when some of these principles are in conflict – that is when it is important to apply the most crucial ones, the wellbeing of the patient and the patient’s own wishes.

    In Ireland in 2012, a young woman named Savita Halappanavar went to an Irish hospital for treatment for her miscarriage. Doctors knew there was no hope of the pregnancy surviving but refused to evacuate her uterus while there was still a fetal heartbeat, for fear of breaching Ireland’s anti-abortion laws. The result: Savita died of septicaemia at 31.

    If doctors had put the patient’s wellbeing first, they would have given her that termination, despite the law, and it would have saved her life.

    These are the principles that should have been applied to the examples above: the woman seeking an abortion for career reasons or the nurse refusing to force-feed prisoners.

    The doctor (or nurse) should ask: Is it what the patient has autonomously decided they want? Will it lead to the best outcome for both their physical and their mental health?

    If abortion will promote a woman’s wellbeing, it is in her interests. Hunger strikers should not be force-fed because it violates their autonomy.

    An unfair burden

    While doctors’ personal values are important, they should not dictate care at the bedside. Not only can this disadvantage the patient, but it places an unfair burden on colleagues who do accept such work, and must carry a disproportionate load of procedures they might find unpleasant and financially unrewarding.

    It also creates injustice. Patients who are educated, wealthy and well-connected already find it easier to access health care. Conscientious objection intensifies that unfairness in large swathes of the country because it further limits options.

    Two countries with excellent health-care systems, Sweden and Finland, do not permit conscientious objection by medical professionals.

    In Australia, it is time we do the same and strongly limit conscientious objection as a legal right for health professionals. We should also ensure those entering the discipline are prepared to take on all procedures relevant to their specialty.

    And lastly, but most importantly, we should educate them that the patient’s interests and values must always come first. An individual doctor’s sense of moral authority should not be permitted to morph into medical and moral authoritarianism.

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

    – ref. Doctors shouldn’t be allowed to object to medical care if it harms their patients – https://theconversation.com/doctors-shouldnt-be-allowed-to-object-to-medical-care-if-it-harms-their-patients-260003

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Enphase Energy Reports Financial Results for the Second Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the second quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman.

    We reported quarterly revenue of $363.2 million in the second quarter of 2025, along with 48.6% for non-GAAP gross margin. We shipped approximately 1.53 million microinverters, or 675.4 megawatts DC, and 190.9 megawatt hours (MWh) of IQ® Batteries.

    Highlights for the second quarter of 2025 are listed below:

    • IQ® Meter Collar approved by 29 U.S. utilities to date
    • U.S. manufacturing: shipped approximately 1.41 million microinverters and record 46.9 MWh of IQ Batteries
    • Revenue of $363.2 million
    • GAAP gross margin of 46.9%; non-GAAP gross margin of 48.6% with net IRA benefit
    • Non-GAAP gross margin of 37.2%, excluding net IRA benefit of 11.4%
    • GAAP operating income of $37.0 million; non-GAAP operating income of $98.6 million
    • GAAP net income of $37.1 million; non-GAAP net income of $89.9 million
    • GAAP diluted earnings per share of $0.28; non-GAAP diluted earnings per share of $0.69
    • Free cash flow of $18.4 million; ending cash, cash equivalents and marketable securities of $1.53 billion

    Our revenue and earnings for the second quarter of 2025 are provided below, compared with the prior quarter:

    (In thousands, except per share and percentage data)

      GAAP   Non-GAAP
      Q2 2025   Q1 2025   Q2 2024   Q2 2025   Q1 2025   Q2 2024
    Revenue $ 363,153     $ 356,084     $ 303,458     $ 363,153     $ 356,084     $ 303,458  
    Gross margin   46.9 %     47.2 %     45.2 %     48.6 %     48.9 %     47.1 %
    Operating expenses $ 133,486     $ 136,319     $ 135,367     $ 77,781     $ 79,423     $ 81,706  
    Operating income $ 37,007     $ 31,922     $ 1,799     $ 98,613     $ 94,637     $ 61,080  
    Net income $ 37,052     $ 29,730     $ 10,833     $ 89,869     $ 89,243     $ 58,824  
    Basic EPS $ 0.28     $ 0.23     $ 0.08     $ 0.69     $ 0.68     $ 0.43  
    Diluted EPS $ 0.28     $ 0.22     $ 0.08     $ 0.69     $ 0.68     $ 0.43  
     

    Total revenue for the second quarter of 2025 was $363.2 million, compared to $356.1 million in the first quarter of 2025. Our revenue in the second quarter of 2025 included $40.4 million of safe harbor revenue, compared to $54.3 million of safe harbor revenue in the first quarter. Our revenue in the United States for the second quarter of 2025 increased approximately 3%, compared to the first quarter. The increase was the result of seasonality partially offset by lower safe harbor revenue. Our revenue in Europe increased approximately 11% for the second quarter of 2025, compared to the first quarter. The increase in revenue was primarily due to higher microinverter and battery sales as we continued to ramp shipments of our IQ® Battery 5P™ with FlexPhase during the second quarter.

    Our non-GAAP gross margin was 48.6% in the second quarter of 2025, compared to 48.9% in the first quarter. Our non-GAAP gross margin, excluding net benefit from the Inflation Reduction Act (IRA), was 37.2% in the second quarter of 2025, compared to 38.3% in the first quarter. The reciprocal tariffs had a negative impact of approximately two percentage points on margins.

    Our non-GAAP operating expenses were $77.8 million in the second quarter of 2025, compared to $79.4 million in the first quarter. Our non-GAAP operating income was $98.6 million in the second quarter of 2025, compared to $94.6 million in the first quarter.

    We exited the second quarter of 2025 with $1.53 billion in cash, cash equivalents and marketable securities and generated $26.6 million in cash flow from operations in the second quarter. Our capital expenditures were $8.2 million in the second quarter of 2025, compared to $14.6 million in the first quarter of 2025.

    In the second quarter of 2025, we repurchased 702,948 shares of our common stock at an average price of $42.67 per share for a total of approximately $30.0 million. We also spent approximately $3.0 million by withholding shares to cover taxes for employee stock vesting that reduced the diluted shares by 58,332 shares.

    During the second quarter of 2025, we shipped approximately 1.41 million microinverters from manufacturing facilities in the United States that we booked for 45X production tax credits. We continued to ship our IQ8HC™ Microinverters, IQ8P-3P™ Commercial Microinverters, and IQ® Battery 5Ps from these facilities, meeting domestic content requirements.

    We shipped a record 190.9 MWh of IQ Batteries in the second quarter of 2025, compared to 170.1 MWh in the first quarter. More than 11,700 installers worldwide are certified to install our IQ Batteries, compared to more than 10,900 installers worldwide in the first quarter of 2025. In addition, we have 210 MWh of batteries in our fleet currently enrolled in virtual power plant (VPP) programs globally.

    During the second quarter of 2025, we began shipping our fourth-generation Enphase Energy System, which includes the IQ® Battery 10C, IQ® Meter Collar, and IQ® Combiner 6C, to customers in the United States. The IQ Battery 10C is designed to be 30% more energy-dense, occupy 62% less wall space, and lower the cost of install compared to previous models. Together, these components simplify the entire backup installation process, enhance reliability, and provide greater value to homeowners. The IQ Meter Collar has now been approved by 29 U.S. utilities.

    We also ramped shipments of our IQ Battery with FlexPhase into more countries in Europe. This AC-coupled battery system supports both single-phase and three-phase homes, providing full backup capability and superior flexibility to meet diverse home energy needs.

    The IQ® EV Charger 2, our most advanced residential charger to date, is now shipping to 18 countries across Europe, Australia, and New Zealand. This smart charger is designed to work seamlessly with Enphase solar and battery systems or as a powerful standalone solution. We also started shipping our IQ® Balcony Solar Kit, a simple and efficient solution for harnessing solar energy from panels installed on apartment balconies, in Belgium and Germany during the second quarter of 2025.

    We continue to strengthen our digital platform and improve the customer experience. We are investing in several new enhancements for Solargraf, our all-in-one installer platform, including expanded third-party ownership (TPO) partner integrations, a custom tariff builder, enhanced dealership management features, and a simplified, AI-driven design experience – all aimed at making Solargraf even more powerful and intuitive.

    BUSINESS HIGHLIGHTS

    On July 17, 2025, Enphase Energy announced initial shipments of the IQ Battery 5P supplied from manufacturing facilities in the United States with higher domestic content than previous models.

    On July 10 and July 2, 2025, Enphase Energy announced that production shipments of its IQ EV Charger 2 have expanded Europe to now include Greece, Romania, Ireland, Poland, Australia, and New Zealand.

    On June 16, 2025, Enphase Energy announced the launch of the IQ Battery 5P with FlexPhase, for customers in more European countries, including Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

    On June 4, 2025, Enphase Energy announced that IQ8P-3P Commercial Microinverters made with domestic content were selected for significant commercial projects on a Florida school, an affordable housing complex in Rhode Island, and a community center in California.

    On May 19, 2025, Enphase Energy introduced IQ® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France.

    On May 12 and May 7, 2025, Enphase Energy announced the launch of the IQ Balcony Solar System in Belgium and Germany that empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas.

    On May 8, 2025, Enphase Energy announced the availability of new software that allows homeowners with existing legacy IQ7™ Microinverter-based systems to seamlessly expand their solar capacity using IQ8™ Microinverters.

    On April 28, 2025, Enphase Energy announced production shipments of IQ8 Microinverters in Japan through a distribution agreement with ITOCHU Corporation, one of the largest trading companies in the country.

    THIRD QUARTER 2025 FINANCIAL OUTLOOK

    For the third quarter of 2025, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:

    • Revenue to be within a range of $330.0 million to $370.0 million, which includes shipments of 190 to 210 MWh of IQ Batteries.
    • GAAP gross margin to be within a range of 41.0% to 44.0% with net IRA benefit, including approximately three to five percentage points of new tariff impact.
    • Non-GAAP gross margin to be within a range of 43.0% to 46.0% with net IRA benefit and 33.0% to 36.0% excluding net IRA benefit, including approximately three to five percentage points of new tariff impact. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization.
    • Net IRA benefit to be within a range of $34.0 million to $38.0 million based on estimated shipments of 1,200,000 units of U.S. manufactured microinverters.
    • GAAP operating expenses to be within a range of $130.0 million to $134.0 million.
    • Non-GAAP operating expenses to be within a range of $78.0 million to $82.0 million, excluding $52.0 million estimated for stock-based compensation expense, acquisition related amortization, restructuring and asset impairment charges.

    For 2025, Enphase expects a GAAP tax rate of 19-21% and a non-GAAP tax rate of 15-17%, including IRA benefits.

    Follow Enphase Online

    Use of non-GAAP Financial Measures

    Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share (basic and diluted), net IRA benefit, and free cash flow.

    These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

    As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:

    Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.

    Acquisition related amortization. This item represents amortization of acquired intangible assets, which is a non-cash expense. Acquisition related amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.

    Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment charges due to the nature of the expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs, accelerated stock-based compensation expense and asset write-downs of property and equipment and acquired intangible assets, and other contract termination costs resulting from restructuring initiatives.

    Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.

    Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.

    Non-GAAP net income per share, diluted. Enphase Energy excludes the dilutive effect of in-the-money portion of convertible senior notes as they are covered by convertible note hedge transactions that reduce potential dilution to our common stock upon conversion of the Notes due 2025, Notes due 2026, and Notes due 2028, and includes the dilutive effect of employee’s stock-based awards and the dilutive effect of warrants. Enphase Energy believes these adjustments provide useful supplemental information to the ongoing financial performance.

    Net IRA benefit. This item represents the advanced manufacturing production tax credit (AMPTC) from the IRA for manufacturing microinverters in the United States, partially offset by the incremental manufacturing cost incurred in the United States relative to manufacturing in India. The AMPTC is accounted for by Enphase Energy as an income-based government grants that reduces cost of revenues in the condensed consolidated statements of operations.

    Free cash flow. This item represents net cash flows from operating activities less purchases of property and equipment.

    Conference Call Information

    Enphase Energy will host a conference call for analysts and investors to discuss its second quarter 2025 results and third quarter 2025 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at https://investor.enphase.com.

    Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 6021998, beginning approximately one hour after the call.

    Forward-Looking Statements

    This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its third quarter of 2025 financial outlook, including revenue, shipments of IQ Batteries by MWh, gross margin with net IRA benefit and excluding net IRA benefit, estimated shipments of U.S. manufactured microinverters, operating expenses, and annualized effective tax rate with IRA benefit; its expectations regarding the expected net IRA benefit; future enhancements for Solargraf; and the capabilities, advantages, features, and performance of its technology and products. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    A copy of this press release can be found on the investor relations page of Enphase Energy’s website at https://investor.enphase.com.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 83.1 million microinverters, and more than 4.9 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

    © 2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Contact:

    Zach Freedman
    Enphase Energy, Inc.
    Investor Relations
    ir@enphaseenergy.com

    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except per share data)
    (Unaudited)
      Three Months Ended Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024
    Net revenues $ 363,153     $ 356,084     $ 303,458     $ 719,237     $ 566,797  
    Cost of revenues   192,660       187,843       166,292       380,503       314,123  
    Gross profit   170,493       168,241       137,166       338,734       252,674  
    Operating expenses:                  
    Research and development   45,421       50,174       48,871       95,595       103,082  
    Sales and marketing   50,708       48,948       51,775       99,656       105,082  
    General and administrative   34,035       34,035       33,550       68,070       68,732  
    Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
    Total operating expenses   133,486       136,319       135,367       269,805       279,974  
    Income (loss) from operations   37,007       31,922       1,799       68,929       (27,300 )
    Other income, net                  
    Interest income   14,911       17,032       19,203       31,943       38,912  
    Interest expense   (815 )     (2,047 )     (2,220 )     (2,862 )     (4,416 )
    Other expense, net   (8,898 )     (14 )     (7,566 )     (8,912 )     (7,479 )
    Total other income, net   5,198       14,971       9,417       20,169       27,017  
    Income (loss) before income taxes   42,205       46,893       11,216       89,098       (283 )
    Income tax provision   (5,153 )     (17,163 )     (383 )     (22,316 )     (4,981 )
    Net income (loss) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
    Net income (loss) per share:                  
    Basic $ 0.28     $ 0.23     $ 0.08     $ 0.51     $ (0.04 )
    Diluted $ 0.28     $ 0.22     $ 0.08     $ 0.50     $ (0.04 )
    Shares used in per share calculation:                  
    Basic   131,031       131,869       135,646       131,447       135,768  
    Diluted   135,219       136,208       136,123       135,719       135,768  
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)
    (Unaudited)
      June 30,
    2025    		   December 31,
    2024
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 370,536   $ 369,110
    Restricted cash   —     95,006
    Marketable securities   1,159,648     1,253,480
    Accounts receivable, net   223,218     223,749
    Inventory   173,016     165,004
    Prepaid expenses and other assets   362,523     220,735
    Total current assets   2,288,941     2,327,084
    Property and equipment, net   136,902     147,514
    Intangible assets, net   32,380     42,398
    Goodwill   214,890     211,571
    Other assets   193,426     205,542
    Deferred tax assets, net   312,250     315,567
    Total assets $ 3,178,789   $ 3,249,676
    LIABILITIES AND STOCKHOLDERS’ EQUITY      
    Current liabilities:      
    Accounts payable $ 162,697   $ 90,032
    Accrued liabilities   206,537     196,887
    Deferred revenues, current   129,040     237,225
    Warranty obligations, current   33,136     34,656
    Debt, current   631,179     101,291
    Total current liabilities   1,162,589     660,091
    Long-term liabilities:      
    Deferred revenues, non-current   331,531     341,982
    Warranty obligations, non-current   172,950     158,233
    Other liabilities   59,542     55,265
    Debt, non-current   571,540     1,201,089
    Total liabilities   2,298,152     2,416,660
    Total stockholders’ equity   880,637     833,016
    Total liabilities and stockholders’ equity $ 3,178,789   $ 3,249,676
     
    ENPHASE ENERGY, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
    (Unaudited)
      Three Months Ended   Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024

    Cash flows from operating activities:    		                  
    Net income (loss) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
    Adjustments to reconcile net income (loss) to net cash provided by operating activities:                  
    Depreciation and amortization   20,085       19,915       20,484       40,000       40,621  
    Net accretion of premium (discount) on marketable securities   (1,234 )     3,512       (1,030 )     2,278       1,795  
    Provision for doubtful accounts   130       62       1,897       192       1,767  
    Asset impairment   1,538       27       6,241       1,565       6,573  
    Non-cash interest expense   828       1,679       2,157       2,507       4,289  
    Change in fair value of debt securities   9,464       (323 )     1,931       9,141       989  
    Stock-based compensation   53,896       55,633       52,757       109,529       113,590  
    Deferred income taxes   403       8,560       (14,076 )     8,963       (22,368 )
    Changes in operating assets and liabilities:                  
    Accounts receivable   8,681       1,760       82,183       10,441       159,542  
    Inventory   (28,991 )     20,979       31,825       (8,012 )     37,527  
    Prepaid expenses and other assets   (64,261 )     (75,553 )     (42,810 )     (139,814 )     (53,707 )
    Accounts payable, accrued and other liabilities   37,212       54,232       (23,944 )     91,444       (90,228 )
    Warranty obligations   2,639       10,558       15       13,197       (11,908 )
    Deferred revenues   (50,813 )     (82,357 )     (1,401 )     (133,170 )     (6,955 )
      Net cash provided by operating activities   26,629       48,414       127,062       75,043       176,263  
    Cash flows from investing activities:                  
    Purchases of property and equipment   (8,259 )     (14,608 )     (9,636 )     (22,867 )     (17,007 )
    Investment in tax equity fund   (1,440 )     (6,904 )     —       (8,344 )     —  
    Purchases of marketable securities   (284,306 )     (200,826 )     (300,053 )     (485,132 )     (772,321 )
    Maturities and sale of marketable securities   242,820       335,398       282,063       578,218       779,436  
      Net cash provided by (used in) investing activities   (51,185 )     113,060       (27,626 )     61,875       (9,892 )
    Cash flows from financing activities:                  
    Settlement of Notes due 2025   —       (102,168 )     —       (102,168 )     (2 )
    Repurchase of common stock   (29,993 )     (99,964 )     (99,908 )     (129,957 )     (141,904 )
    Proceeds from issuance of common stock under employee equity plans   5,302       67       6,769       5,369       7,955  
    Payment of withholding taxes related to net share settlement of equity awards   (2,864 )     (12,110 )     (7,473 )     (14,974 )     (67,515 )
      Net cash used in financing activities   (27,555 )     (214,175 )     (100,612 )     (241,730 )     (201,466 )
      Effect of exchange rate changes on cash, cash equivalents and restricted cash   7,557       3,675       (374 )     11,232       (1,551 )
    Net decrease in cash, cash equivalents and restricted cash   (44,554 )     (49,026 )     (1,550 )     (93,580 )     (36,646 )
    Cash, cash equivalents and restricted cash — Beginning of period   415,090       464,116       253,652       464,116       288,748  
    Cash, cash equivalents and restricted cash — End of period $ 370,536     $ 415,090     $ 252,102     $ 370,536     $ 252,102  
     
    ENPHASE ENERGY, INC.
    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
    (In thousands, except per share data and percentages)
    (Unaudited)
      Three Months Ended   Six Months Ended
      June 30,
    2025    		   March 31,
    2025    		   June 30,
    2024    		   June 30,
    2025    		   June 30,
    2024
    Gross profit (GAAP) $ 170,493     $ 168,241     $ 137,166     $ 338,734     $ 252,674  
      Stock-based compensation   4,311       4,239       3,730       8,550       7,912  
      Acquisition related amortization   1,590       1,580       1,890       3,170       3,781  
    Gross profit (Non-GAAP) $ 176,394     $ 174,060     $ 142,786     $ 350,454     $ 264,367  
                         
    Gross margin (GAAP)   46.9 %     47.2 %     45.2 %     47.1 %     44.6 %
      Stock-based compensation   1.3       1.2       1.3       1.2       1.3  
      Acquisition related amortization   0.4       0.5       0.6       0.4       0.7  
    Gross margin (Non-GAAP)   48.6 %     48.9 %     47.1 %     48.7 %     46.6 %
                         
    Operating expenses (GAAP) $ 133,486     $ 136,319     $ 135,367     $ 269,805     $ 279,974  
      Stock-based compensation(1)   (49,506 )     (50,885 )     (49,027 )     (100,391 )     (105,678 )
      Acquisition related amortization   (2,877 )     (2,849 )     (3,463 )     (5,726 )     (6,925 )
      Restructuring and asset impairment charges(1)   (3,322 )     (3,162 )     (1,171 )     (6,484 )     (3,078 )
    Operating expenses (Non-GAAP) $ 77,781     $ 79,423     $ 81,706     $ 157,204     $ 164,293  
                         
    (1)Includes stock-based compensation as follows:                  
      Research and development $ 20,481     $ 21,647     $ 20,210     $ 42,128     $ 44,760  
      Sales and marketing   16,657       16,396       16,784       33,053       34,962  
      General and administrative   12,368       12,842       12,033       25,210       25,956  
      Restructuring and asset impairment charges   79       509       —       588       —  
      Total $ 49,585     $ 51,394     $ 49,027     $ 100,979     $ 105,678  
                         
    Income (loss) from operations (GAAP) $ 37,007     $ 31,922     $ 1,799     $ 68,929     $ (27,300 )
      Stock-based compensation   53,817       55,124       52,757       108,941       113,590  
      Acquisition related amortization   4,467       4,429       5,353       8,896       10,706  
      Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
    Income from operations (Non-GAAP) $ 98,613     $ 94,637     $ 61,080     $ 193,250     $ 100,074  
                         
    Net income (loss) (GAAP) $ 37,052     $ 29,730     $ 10,833     $ 66,782     $ (5,264 )
      Stock-based compensation   53,817       55,124       52,757       108,941       113,590  
      Acquisition related amortization   4,467       4,429       5,353       8,896       10,706  
      Restructuring and asset impairment charges   3,322       3,162       1,171       6,484       3,078  
      Non-cash interest expense   829       1,678       2,157       2,507       4,289  
      Non-GAAP income tax adjustment   (9,618 )     (4,880 )     (13,447 )     (14,498 )     (19,619 )
    Net income (Non-GAAP) $ 89,869     $ 89,243     $ 58,824     $ 179,112     $ 106,780  
                         
    Net income (loss) per share, basic (GAAP) $ 0.28     $ 0.23     $ 0.08     $ 0.51     $ (0.04 )
      Stock-based compensation   0.41       0.42       0.39       0.80       0.84  
      Acquisition related amortization   0.03       0.04       0.04       0.08       0.08  
      Restructuring and asset impairment charges   0.03       0.02       0.01       0.06       0.02  
      Non-cash interest expense   0.01       0.01       0.02       0.02       0.03  
      Non-GAAP income tax adjustment   (0.07 )     (0.04 )     (0.11 )     (0.11 )     (0.14 )
    Net income per share, basic (Non-GAAP) $ 0.69     $ 0.68     $ 0.43     $ 1.36     $ 0.79  
                         
      Shares used in basic per share calculation GAAP and Non-GAAP   131,031       131,869       135,646       131,447       135,768  
                         
    Net income (loss) per share, diluted (GAAP) $ 0.28     $ 0.22     $ 0.08     $ 0.50     $ (0.04 )
      Stock-based compensation   0.41       0.42       0.38       0.83       0.84  
      Acquisition related amortization   0.03       0.04       0.04       0.07       0.08  
      Restructuring and asset impairment charges   0.03       0.03       0.01       0.05       0.02  
      Non-cash interest expense   0.01       0.01       0.02       0.02       0.03  
      Non-GAAP income tax adjustment   (0.07 )     (0.04 )     (0.10 )     (0.11 )     (0.15 )
    Net income per share, diluted (Non-GAAP) $ 0.69     $ 0.68     $ 0.43     $ 1.36     $ 0.78  
                         
      Shares used in diluted per share calculation GAAP   135,219       136,208       136,123       135,719       135,768  
      Shares used in diluted per share calculation Non-GAAP   131,144       132,133       136,123       131,644       136,439  
                         
    Income-based government grants (GAAP) $ 61,040     $ 53,631     $ 24,329     $ 114,671     $ 42,946  
      Incremental cost for manufacturing in U.S.   (19,528 )     (15,773 )     (5,950 )     (35,301 )     (10,832 )
    Net IRA benefit (Non-GAAP) $ 41,512     $ 37,858     $ 18,379     $ 79,370     $ 32,114  
                         
    Net cash provided by operating activities (GAAP) $ 26,629     $ 48,414     $ 127,062     $ 75,043     $ 176,263  
      Purchases of property and equipment   (8,259 )     (14,608 )     (9,636 )     (22,867 )     (17,007 )
    Free cash flow (Non-GAAP) $ 18,370     $ 33,806     $ 117,426     $ 52,176     $ 159,256  
     

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI USA: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

    Source: US State of North Dakota

    Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

    “The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

    “Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

    “By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

    After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

    According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

    Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

    Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

    Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

    The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

    After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

    The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office. 

    Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

    MIL OSI USA News –

  • MIL-OSI Security: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

    Source: United States Attorneys General

    Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

    “The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

    “Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

    “By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

    After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

    According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

    Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

    Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

    Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

    The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

    After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

    The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office. 

    Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

    MIL Security OSI –

  • MIL-OSI Africa: Portugal Fully Supports Autonomy Initiative as Most Serious, Credible & Constructive Basis to Settle Moroccan Sahara Dispute

    Source: APO


    .

    As part of the international momentum generated under the leadership of His Majesty King Mohammed VI, may God assist Him, in support of Morocco’s sovereignty over its Sahara and the Autonomy Plan, the Portuguese Republic expresses “its full support for the Moroccan autonomy initiative as the most serious, credible and constructive basis to settle this dispute.”

    This position was expressed in the Joint Statement signed by the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita, and the Portuguese Minister of State and Foreign Affairs, Paulo Rangel, following their meeting on Tuesday in Lisbon.

    Portugal recognizes the importance of this issue for Morocco, as well as the serious and credible efforts undertaken by the Kingdom within the framework of the United Nations to achieve a just, lasting, and mutually acceptable political solution, the Joint statement notes.

    The two ministers reaffirmed their support for UN Security Council Resolution 2756, which emphasizes the role and responsibility of the parties in seeking a realistic, pragmatic and lasting political solution based on compromise, the document adds.

    Through its new stance, Portugal sends a clear message reflecting its adherence to the international consensus around Morocco’s autonomy Plan, in line with the strong international dynamic driven by His Majesty King Mohammed VI.

    Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: MOFA response to French government’s National Strategic Review 2025 conveying concern over Taiwan and cross-strait security

    Source: Republic of China Taiwan

    MOFA response to French government’s National Strategic Review 2025 conveying concern over Taiwan and cross-strait security

    Date：2025-07-15
    Data Source：Department of European Affairs

    July 15, 2025On July 14, the French government released its National Strategic Review 2025, which mentioned the Taiwan Strait and Taiwan six times. The report noted that China has continued to strengthen its military capabilities, increase the intensity of military exercises around Taiwan, exert pressure on Taiwan through military force and other means, and fuel tensions and instability in the region. The 2022 version of the policy document also stated that China’s military expansion had threatened the status quo across the Taiwan Strait. However, this year’s report devoted more attention to China’s threats against Taiwan. It also expressed France’s concerns regarding Taiwan and cross-strait security. Minister of Foreign Affairs Lin Chia-lung warmly welcomes and deeply appreciates the strategic review. Through the report, France has once again expressed concern over cross-strait security and reiterated the importance of Taiwan. The review follows from the joint declaration issued after President Emmanuel Macron of France met with Prime Minister Keir Starmer of the United Kingdom in London on July 10 for the 37th UK-France summit. In the declaration, the two leaders reaffirmed their commitment to peace and stability in the Taiwan Strait. The Ministry of Foreign Affairs emphasizes that Taiwan, as an indispensable member of the Indo-Pacific region, will continue to work with France and other democratic partners to defend freedom and democracy and staunchly uphold peace and stability across the Taiwan Strait and in the Indo-Pacific.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Nations: Programme Management Officer, P-4

    Source: UNISDR Disaster Risk Reduction

    Apply here

    Org. Setting and Reporting

    Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 140 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyzes action and increases global awareness to reduce disaster risk working with UN Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community.

    This position is located in the UNDRR Office in Bonn, Germany. The Programme Officer will report to the Head of the UNDRR Bonn Office under the overall guidance of the Chief, Risk Knowledge, Monitoring and Capacity-Development Branch.

    Responsibilities

    Within delegated authority, the incumbent will be responsible for the following duties: – 

    • Develops, implements and evaluates assigned systems programmes/projects of significant importance for the Department; monitors and analyses programme/project development and implementation; reviews relevant documents and reports; identifies problems and issues to be addressed and initiates corrective actions; liaises with relevant parties; ensures follow-up actions. In particular, oversees and supports the management and updating of the online monitoring system to track progress in the implementation of the Sendai Framework for Disaster Risk Reduction. Tracks and monitors project progress against plan, requirements, quality measures, standard processes; liaises with users on all aspects and during all phases.
    • Provides expert advice on complex systems analysis and design; identifies the need for new systems (or modifications to existing systems) or responds to requests from users; develops plans for feasibility assessment, requirements specification, design, development and implementation, including project plans, schedules, time and cost estimates, metrics and performance measures. –
    • Provides expert advice and coordinates the roll-out of the Disaster Tracking System in all Member States, liaising with the concerned regional offices. Keeps abreast of developments in the field and determines the need for testing and evaluating new products and technologies. –
    • Leads and coordinates the official reporting on Sendai Framework and SDGs, among others, and organizes and prepares written outputs, e.g. draft background papers, analysis, sections of reports and studies, inputs to publications, technical reports, including advance analytics using AI-based tools.
    • Develops, implements and monitors application of standards and guidelines. Oversees the preparation of technical and user documentation for systems; prepares training materials and detailed technical presentations including technical guidelines to support the reporting against the indicators to assess progress towards the targets of Sendai Framework, as recommended by the open-ended intergovernmental expert working group on indicators and terminology. Works in close collaboration with the UNDRR Global Education and Training Institute (GETI) in Incheon and contributes to the development of training modules on Sendai Framework Monitoring Process. Collaborates and coordinates closely with UNDRR Regional Offices in support of strengthening the capacity of Member States to use the online Sendai Framework Monitoring system and their ability to report against the indicators. –
    • Provides substantive backstopping to consultative and other meetings, conferences, etc., to include proposing agenda topics, identifying participants, preparation of documents and presentations, etc. –
    • Participates in planning and preparation of the budget, work program and spending plan of the Section and of the Branch. Contributes to activities related to budget funding (programme/project preparation and submissions, progress reports, financial statements, etc.) and prepares related documents/reports (pledging, work programme, programme budget, etc.). Develops cost proposals for contractual services, oversees the technical evaluation of proposals received and manages the contract service. Provides professional leadership and work direction to assigned project team, and/or mentor and supervises the work of new/junior officers, contract staff, etc. – Performs other duties as required.

    Competencies

    Professionalism: Knowledge and understanding of theories, concepts and approaches relevant to particular sector, functional area or other specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently. 

    Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable. 

    Client Orientation: Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view; establishes and maintains productive partnerships with clients by gaining their trust and respect; identifies clients’ needs and matches them to appropriate solutions; monitors ongoing developments inside and outside the clients’ environment to keep informed and anticipate problems; keeps clients informed of progress or setbacks in projects; meets timeline for delivery of products or services to client.

    Education

    An advanced university degree (Master’s degree or equivalent degree) in social sciences, management, economics, statistics or a related field is required. A first-level degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

    Work experience

    • A minimum of seven years of progressively responsible experience in project planning, implementation and monitoring or a related area is required.
    • Experience in disaster risk assessment and monitoring, and disaster risk reduction is required.
    • Experience in data management and statistics is desirable.

    Languages

    English and French are the working languages of the United Nations Secretariat. For the position advertised, fluency in English is required. Knowledge of French is desirable. Knowledge of another UN official language is desirable.

    Assessment

    Evaluation of qualified candidates may include an assessment exercise which will be followed by a competency-based interview.

    Special notice

    The appointment or assignment and renewal thereof are subject to the availability of the post or funds, budgetary approval or extension of the mandate. At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered.

    United Nations Considerations

    According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General. Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

    No Fee

    THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

    Apply here

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Economic and Social Council Continues High-Level Segment

    Source: United Nations General Assembly and Security Council

    2025 Session,

    25th Meeting (PM)

    ECOSOC/7215

    The Economic and Social Council continues the general debate of its annual high-level segment, including the three-day ministerial segment of the High-level Political Forum under the theme “Advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda and its SDGs for leaving no one behind”.

    The segment, which began 21 July, will run through 24 July.

    Member States will make statements this afternoon under the theme “UN@80:  Catalyzing Change for Sustainable Development”. 

    Also in the afternoon, the Council will continue its voluntary national reviews with Germany, Kazakhstan, Seychelles, Japan, Gambia, Indonesia and Suriname.  Council President Bob Rae and Vice President Lok Bahadur Thapa will chair the reviews.

    For information media. Not an official record.

    MIL OSI United Nations News –

  • MIL-OSI USA: Understanding Thai Names: Law and Culture

    Source: US Global Legal Monitor

    The following is a guest post by foreign law intern, Yuri Rattanaboonsen. Yuri works with Foreign Law Specialist, Sayuri Umeda, in the Global Legal Research Directorate in the Law Library of Congress. 

    In Thailand, surnames are generally unique to family lines, and more often than not, we rarely meet a stranger who has the same surname if he or she is not a distant relative.

    Before the enactment of the Thai Nationality Act in 1913, which is also known as the Surname Act, surnames were uncommon for the general public. This law required all Thai citizens and permanent residents to register a family surname for the first time. As a result, many families had to create a new surname. One important feature of the law was that each family’s surname had to be unique. (Thai Nationality Act sec.12(5).) If a name was already registered, the family would have to register a different one.

    Currently, the Person’s Name Act B.E. 2505 (1962), as amended by the Person’s Name Act (No. 3), B.E. 2548 (2005), governs the rules for personal names in Thailand. It still states “[t]he surname shall not repeat … a registered surname.” (sec. 8(3).)

    Thai Surnames

    Originally, Thai surnames often reflected a person’s ancestry, place of origin, or occupation, and usually consisted of two to three syllables. They can relate to information about religion, social class, or even links to royalty or heritage.

    Thai immigrant families’ surnames are often long. For example, because many Chinese families’ surnames were the same and were already in use, many immigrant families had to modify or expand them to register unique surnames under the 1913 law. Some families chose Thai words that sounded similar to their original Chinese surname. Others created longer surnames by adding extra syllables or translating the original name’s meaning into Thai. As a result, many names and surnames today are long and complex.

    The Person’s Name Act limits the length of a surname. It states “[t]he surname shall … not be comprised of more than 10 alphabetical letters….” (Id. sec. 8(5).) This only applies to the Thai alphabet. Therefore, a romanized Thai surname often has more than 10 Roman characters.

    It is rare, but some overlap of Thai surnames exists because technology was not advanced enough to detect all registered surnames nationwide at the time the registry was created. The Department of Provincial Administration’s system, which can check the population registration going back to 1984, came online to link data nationwide in 1993. It was then discovered that many people are not relatives but have the same last names.

    Name Change

    When a surname is changed to a new one, it often becomes quite long. In Thailand, people can change their names for any reason. (Id. sec. 17) Many individuals choose to change their names for personal, cultural, or spiritual reasons.

    Some people change names based on astrological beliefs, selecting letters that are thought to be compatible with the individual’s birthday. In these naming calculations, each letter and vowel has a specific meaning. People try to make the total value of their name and surname lucky or strong. To do this, they often need to use more letters, which results in longer names and surnames. However, many people who do not hold these beliefs still have short surnames.

    Permission to Use Another Person’s Surname

    A Thai person who is not a spouse or relative of another person and who has a different surname can have the person’s surname upon permission of the person who registered the surname. The act states that the permission “can be made by filing an application to the local Registrar in the area where he or she has his or her name on the household registry …The permission … shall be valid only upon the local Registrar’s issuance of a letter showing the permission to use such surname to” a particular person. (Id. sec. 11.)

    Romanization of surnames

    The same Thai names might be spelled differently in Roman characters on passports or national identity cards due to the different practices in different registrars’ offices. In addition, the registrar’s consideration and opinion affected the registration process. (Id. sec. 18.)

    In July 2023, Bangkok Metropolitan sent a letter to the Department of Provincial Administration to discuss the practice of using Roman characters for first and last names on national identity cards. The Department of Provincial Administration responded by stating that a person’s name must be romanized through transliteration based on phonetic principles, as written in the Prime Minister’s Office Announcement of English transliteration criteria on August 26, 1989, and the Royal Institute criteria for transliteration of Thai into Roman letters by phonetic means on January 11, 1999. The Department of Provincial Administration also forwarded this response to all provincial governors to study and practice in the same way. No other specific regulation was made apart from what the Person’s Name Act B.E. 2505 (1962) provides.

    Nickname of Thai People

    Although it is not officially registered or recognized under Thai law, nicknames are widely used in everyday life. Most Thai individuals receive a nickname at birth. Thai people do not usually change their nicknames; some do, but fewer compared to changes in their first names and surnames.  Thais’ nicknames have changed over time. In the past, most nicknames were in Thai, which were short and simple. usually named after animals, fruits, colors, and nature, such as Khao (Rice), Kai (Chicken), Fah (Sky/Blue), and Ploy (Gemstone). Nowadays, the number of syllables increases, and the use of foreign languages in nicknames has increased. Nicknames can be random English words, such as Donut, Golf, or New Year, brand names, such as Porsche, Benz, or Pepsi, or even be an alphabet letter, such as A, B, S, or X.

    A person may go by their nickname socially and professionally for their entire life, but only their official given name will appear in legal contracts, government records, and academic certifications. In daily life, individuals are more commonly known by their nickname than their full legal name.

    Further Reading

    If you would like to know how other countries regulate names, do not forget to check out our other blog posts on that topic, among them, Jenny’s post on naming laws in Germany, Kelly’s post on banning baby names in New Zealand, Laney’s on how many times you can change a name in Taiwan, or Elin’s post on Icelandic name laws.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI Russia: World Fencing Championships Start in Tbilisi

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    TBILISI, July 22 (Xinhua) — The World Fencing Championships kicked off in Georgia’s capital Tbilisi on Tuesday. The country is hosting a competition of this scale for the first time and has fielded a team of 25 strongest athletes, the Georgian Fencing Federation said.

    The competition will last until July 30. According to the organizers, about 1,200 athletes from 135 countries and regions of the world are taking part in the tournament. 12 sets of awards will be contested in fencing with epees, foils and sabres in individual and team disciplines among men and women.

    President of the Georgian Fencing Federation Merab Bazadze expressed confidence that holding the championship will be an important step in the development of fencing in the country. “A lot of people will come, and I am glad that this elite sport will become a priority in Georgia,” he told reporters.

    At the previous World Championship, held in 2023 in Milan /Italy/, the Georgian team won one award – a silver medal, which was won by sabre fencer Sandro Bazadze. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI USA: News Release: Jud Virden, Ph.D., Appointed Laboratory Director at NREL

    Source: US National Renewable Energy Laboratory

    Jud Virden, Ph.D.

    The Alliance for Sustainable Energy (Alliance) today announced the appointment of Jud Virden, Ph.D., as director of NREL and president of the Alliance, which manages the laboratory for the Department of Energy (DOE). Dr. Virden will officially join NREL in this role on Oct. 1, 2025. Virden was selected following a competitive national search.

    Virden joins NREL from Pacific Northwest National Laboratory (PNNL), where he has served as associate laboratory director for the Energy and Environment Directorate since 2011. In that role, he led approximately 1,700 scientists, engineers, and staff advancing DOE’s applied energy priorities—ranging from power grid modernization and energy technologies to nuclear and environmental management.

    “Jud’s leadership in driving transformative energy solutions makes him an outstanding fit for NREL,” said Alliance Board co-chairs Ian Colrain, president and CEO of MRIGlobal, and Juan Alvarez, executive vice president of laboratory operations at Battelle. “He brings a rare combination of scientific rigor, strategic vision, and a collaborative spirit—paired with a deep understanding of DOE priorities and the national lab system. His ability to translate innovation into impact makes him ideally suited to lead NREL into its next chapter.”

    “It’s a privilege to step into this role at such a pivotal time,” Dr. Virden said. “I am eager to build on NREL’s reputation for scientific excellence and drive meaningful, lasting transformation. I look forward to growing collaborations within DOE, industry, academia, and the national labs—working together to accelerate energy innovation and impact.”

    Dr. Virden earned both his Bachelor of Science and doctorate in chemical engineering from the University of Washington and has been with PNNL since 1991. His career is marked by a strong record in forging public-private partnerships and advancing grid resilience and energy technologies.

    Dr. Virden will succeed Dr. Martin Keller, who has served as NREL’s laboratory director since 2015. Under Dr. Keller’s leadership, NREL has experienced record growth in funding, talent, and impact—cementing its role as a global leader in energy research and innovation. He will continue at the laboratory as a strategic advisor through early November to ensure a smooth transition. Dr. Keller will then leave the laboratory for his new role as president of the Helmholtz Association in Berlin, Germany. 

    “Martin led with vision, thoughtfulness, and unwavering integrity,” Colrain and Alvarez said. “His leadership left an enduring mark on NREL’s legacy and future. We thank him for his extraordinary service and look forward to seeing the continued impact of his work in the global research community.”

    NREL—the National Renewable Energy Laboratory—is the U.S. Department of Energy’s primary national laboratory for energy systems research, development, and integration. NREL is managed and operated for the U.S. Department of Energy by a partnership led by MRIGlobal and Battelle.

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Need for clear exemptions for military personnel under the Working Time Directive – E-002871/2025

    Source: European Parliament

    Question for written answer  E-002871/2025
    to the Commission
    Rule 144
    Alice Teodorescu Måwe (PPE), Rasa Juknevičienė (PPE), Wouter Beke (PPE), Petras Auštrevičius (Renew), Matej Tonin (PPE)

    Directive 2003/88/EC[1] (Working Time Directive) sets minimum standards for rest and working hours across the EU. While Article 17 allows derogations for specific sectors, including the armed forces, the scope and application of these exemptions remain legally unclear. This ambiguity has led to inconsistent national practices and legal uncertainty for Member States.

    Some countries (e.g. Sweden, Germany and Ireland) have introduced structured systems to balance soldiers’ right to rest with operational demands. The Commission has expressed support for Ireland’s recent reforms, while other models – such as Sweden’s use of collective agreements – have faced criticism. This variation highlights the need for a clearer and more harmonised legal basis for flexibility under the directive.

    In the light of evolving security threats and the Commission’s emphasis on ensuring interoperability and readiness of national armed forces within a common EU framework, we ask:

    is the Commission willing to consider or propose amendments to the Working Time Directive to establish a more explicit, harmonised exemption framework for military personnel – particularly concerning activities such as deployment, emergency response and training?

    Submitted: 14.7.2025

    • [1] Directive 2003/88/EC of the European Parliament and of the Council of 4 November 2003 concerning certain aspects of the organisation of working time, OJ L 299, 18.11.2003, p. 9, ELI: http://data.europa.eu/eli/dir/2003/88/oj.
    Last updated: 22 July 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Karl Nehammer appointed new Vice-President of the European Investment Bank

    Source: European Investment Bank

    Nidetzky

    • Former Chancellor of Austria will join the EIB Management Committee.
    • Vice-President Nehammer will start on 1 September, succeeding Swedish Vice-President Thomas Ostros.

    The European Investment Bank (EIB) is pleased to announce the appointment of Karl Nehammer as a new Vice-President and Member of its Management Committee, following a decision by the 27 EU Finance Ministers, representing the EIB’s shareholders, the EU Member States.

    Mr. Nehammer, an Austrian national, has been nominated by Austria and is set to take up his duties on 1 September 2025, succeeding current Vice-President Thomas Östros.

    Karl Nehammer joins the EIB with a wealth of experience from his distinguished career in Austrian politics. He served as the Federal Chancellor of Austria from 2021 to 2025. Prior to this, he was Minister of the Interior from 2020 to 2021, and he was a member of the National Council from 2017 to 2020 as well as Secretary-General of the People’s Party.

    EIB Group President Nadia Calviño welcomed the appointment, stating, “I am pleased to welcome Karl Nehammer to the EIB Management Committee. His profound experience in European politics will be an important asset for our Group and for delivering on key EU policy goals.”

    Upon his appointment, Karl Nehammer remarked, “I am thrilled to join the European Investment Bank, an institution vital to the economic well-being and strategic autonomy of the European Union. The EIB plays a key role in backing priority investment across Europe and worldwide, and I look forward to working with President Calviño, my fellow Management Committee members, EIB Group staff and stakeholders to advance the Bank’s critical mission”.

    The EIB Group has operated in Austria since 1973 and since then the EIB  has provided more than EUR 34 billion for public and private investment across the country. The last Austrian Vice-President of the EIB was Wilhelm Molterer who served from 2011 to 2015.

    Background information  

    The EIB’s Management Committee is the Bank’s permanent collegiate executive body, composed of a President and eight Vice-Presidents. Its members are appointed by the EIB’s Board of Governors, which consists of the economy and finance ministers of the 28 EU Member States.

    The Committee collectively oversees the day-to-day running of the EIB and is responsible for preparing and ensuring the implementation of the Board of Directors’ decisions, particularly concerning borrowing and lending operations.

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers.Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. 

    High-quality, up-to-date photos of our headquarters for media use are available here.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Use of NRRP funds for integrated home care services and healthcare professional shortages in Italy – E-002870/2025

    Source: European Parliament

    Question for written answer  E-002870/2025
    to the Commission
    Rule 144
    Valentina Palmisano (The Left)

    Italy will, under mission 6 of its national recovery and resilience plan (NRRP), invest EUR 2 billion of Next Generation EU funds to increase the share of the population over 65 in integrated home care to 10 %.

    Italy is now claiming that it has achieved this objective, even though the country continues to be beset by systemic shortages of nursing staff and physiotherapists. In addition, there is no evidence that Italy’s policies have increased the number of available healthcare professionals in the country between 2023 and 2025.

    Given its role in monitoring the implementation of NRRPs, can the Commission answer the following questions:

    • 1.Is it aware of any discrepancies between the actual number of new patients admitted to integrated home care services and Italy’s reporting criteria?
    • 2.Has Italy documented whether the aforementioned increase is the result of new staff being recruited or of the reorganisation of existing resources and non-accredited entities?
    • 3.Does the Commission believe that the measures taken by Italy to overcome its shortage of healthcare professionals are sufficient to ensure the medium-to-long-term sustainability of the EU’s investment

    Submitted: 14.7.2025

    Last updated: 22 July 2025

    MIL OSI Europe News –

  • MIL-OSI Security: U.S. commences civil action to forfeit $7.1 million in cryptocurrency tied to oil and gas storage fraud scheme

    Source: Office of United States Attorneys

    Seattle – The U.S. Attorney’s Office, Western District of Washington today filed a civil action seeking the forfeiture of cryptocurrency valued at approximately $7.1 million seized in the investigation of an oil and gas related investment fraud scheme, announced Acting U.S. Attorney Teal Luthy Miller. The funds, part of some $97 million taken in by the coconspirators between June 2022 and July 2024, was seized by Homeland Security Investigations in December 2024.

    “The co-schemers in this fraud moved their ill-gotten gain through various cryptocurrency accounts to try to launder the money stolen from victims,” said Acting U.S. Attorney Miller. “Federal investigators and prosecutors in our office moved as quickly as possible to trace and seize the cryptocurrency so that some of the losses can be returned to victims.”

    According to the forfeiture filing and other records in the case, from at least August 2022 through August 2024, the co-schemers convinced victims to send money to what was represented as escrow accounts to purchase oil tank storage in either Rotterdam, Netherlands, or Houston. The schemers indicated that the investors could make significant profits by renting the oil tank storage they obtained to others. The victims sent money to accounts linked to these entities: Sea Forest International LLC; Apex Oil and Gas Trading LLC; Navigator Energy Logistics LLC; Terminal Energy International Escrow Service LLC; Energo Horizons Logistics (EA) LLC; Legacy Energy Logistics Transport Group LLC; Green Tree Gateway LLC. However once victims sent their money, they were not sent any further information on their investment and co-schemers simply stopped responding.

    Newcastle, Washington resident Geoffrey K. Auyeung, 47, was indicted in August 2024 as the coconspirator in the U.S. who is charged with receiving much of the fraud proceeds generated by the fraud scheme. The money was quickly moved to one or more of at least 81 different accounts at financial institutions, moved offshore, or moved to one or more of at least 19 different cryptocurrency accounts, where it was used for the purchase of cryptocurrencies, including Bitcoin, Tether, USD Coin, and Ethereum. Much of the cryptocurrency was further transferred to accounts at the cryptocurrency exchange Binance.

    According to the forfeiture filing, the cryptocurrency accounts that were seized were linked to individuals in Russia and Nigeria. Some of the cryptocurrency purchased with victims’ funds was also sent to cryptocurrency exchanges in Russia and Nigeria, at least one of which is alleged to have facilitated money laundering for transnational criminal organizations – including terrorist organizations and organizations that violate international trade sanctions.

    At the time of Auyeung’s arrest and indictment, some $2.3 million was seized from his bank accounts. The $7.1 million in cryptocurrency the government is seeking to forfeit is in addition to the $2.3 million.

    Should the court approve the forfeiture the money will be distributed to victims in the case. Currently. Investigators have identified dozens of victims who were defrauded out of approximately $17.9 million. Investigators believe those numbers will continue to grow as more victims are identified and verified.

    The case is being investigated by HSI.

    The case is being prosecuted by Assistant United States Attorneys Jehiel Baer and Yunah Chung.

    MIL Security OSI –

  • MIL-OSI: OZ Studio, a Global Firm with Texas Roots, Showcases Ethical AI Governance Model at the United Nations

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, AUSTRIA , July 22, 2025 (GLOBE NEWSWIRE) — OZ Studio, a global technology firm with offices in Austin, Texas; Geneva, Switzerland; and Monterrey, Mexico, presented a groundbreaking model for municipal governance and ethical artificial intelligence at the United Nations headquarters in Vienna. The presentation marks a significant milestone for the company, which, after 22 years of serving multinational corporations, has pivoted its focus since 2020 toward empowering governments, entrepreneurs, and small businesses with integrated digital platforms.

    Osuna attends sessions at the UN Office on Drugs and Crime that focus on data security and sovereignty.

    The firm, represented by its CEO Daniel Osuna, who also serves on the UN’s AI Council ethics committee, detailed its successful public-private partnerships in the municipalities of Escobedo and Santiago, Mexico. These collaborations showcase a new standard for applying AI ethically at the local government level, a core mission of OZ Studio’s government services division.

    For over two decades, OZ Studio built a reputation for providing high-level services to large multinational companies. However, recognizing a critical gap in the market, the company strategically shifted its focus in 2020. The new mission: to channel its extensive expertise into creating comprehensive digital ecosystems for those who form the backbone of local economies—small and medium-sized enterprises (SMEs) and the public institutions that serve them.

    This new direction is embodied by two of its flagship platforms: LINK360 and the OZZY AI system. LINK360 is a digital empowerment platform that provides local businesses with e-commerce tools and AI-powered marketing, ensuring economic value and data sovereignty remain within the community. OZZY AI is an open-source framework trained for municipal processes, designed with ethical principles like transparency, algorithmic fairness, and cultural adaptation at its core.

    The results of this approach are transformative. Under the leadership of Mayor Andrés Mijes, the city of Escobedo has become a 100% digitized municipality, a remarkable achievement that has streamlined public services and eliminated bureaucratic red tape. In Santiago, Mayor David de la Peña is leveraging the LINK360 program to foster a vibrant local entrepreneurial scene.

    The international community has taken notice. Following the conclusion of the UN activities on Monday, July 22, OZ Studio (https://www.oz.studio) has entered into strategic alliances to explore pilot programs with several nations, including: Spain, Egypt, Georgia, Austria, and Australia. This global interest validates OZ Studio’s model as a scalable solution for governments worldwide seeking to innovate responsibly.

    From its strategic locations in Austin, Geneva, and Monterrey, OZ Studio is now positioned to lead the charge in ethical AI for public service. The company’s evolution from a corporate service provider to a champion for local development demonstrates a powerful vision: leveraging top-tier technology to build self-sustaining, equitable, and prosperous communities from the ground up.

    Presenting the OZZI AI framework and the Public Private Partnership for ethical AI

    About OZ Studio

    At OZ Studio, we are your premier destination for transformative digital solutions, anchored in over two decades of innovation and expertise. We are proud to say that we’ve evolved from pioneering basic email marketing to mastering complex digital strategies and immersive creative experiences. Our comprehensive suite of services spans from state-of-the-art website development to advanced SEO strategies, engaging interactive videos, and cutting-edge AI tools. As true digital architects, we empower our clients by merging top-tier technology with unmatched creative prowess, ensuring every digital interaction is compelling and results-oriented. We revolutionized the traditional digital service model through our productized Creative-as-a-Service (CaaS), which guarantees transparency, efficiency, and scalability. Our subscription-based approach simplifies access to a holistic digital strategy, incorporating a full spectrum of expertly managed creative and technical services. Partner with us at OZ Studio, and let us help elevate your brand to new heights, optimizing every touchpoint in your digital journey for growth and transformation. 

    Press inquiries

    OZ Studio
    https://oz.studio
    Daniel Osuna
    oz@oz.studio
    +12123811969
    5900 Balcones Drive
    Austin, TX 78731

    The MIL Network –

  • MIL-OSI Africa: Irish Ambassador Bids Farewell to Sierra Leone’s President Julius Maada Bio

    Source: APO

    The Ambassador of Ireland to Sierra Leone, Aidan Fitzpatrick, paid a farewell courtesy call on His Excellency President Dr Julius Maada Bio, marking the end of his two-year diplomatic mission in the country.

    In his remarks, Ambassador Fitzpatrick expressed his sincere gratitude to President Bio for receiving him and used the opportunity to congratulate the President on his recent election as Chairman of the Economic Community of West African States (ECOWAS).

    Reflecting on his time in Sierra Leone, Ambassador Fitzpatrick commended the significant progress made under President Bio’s leadership, particularly in advancing women’s rights. He also praised the warmth and hospitality of the Sierra Leonean people and acknowledged the increasing international recognition the country has gained under President Bio’s tenure.

    He further revealed that Ireland is exploring opportunities to expand investment in Sierra Leone, underscoring the deepening of bilateral relations between the two nations.

    In response, President Bio thanked Ambassador Fitzpatrick on behalf of the Government and people of Sierra Leone for his service, dedication, and unwavering support throughout his mission.

    He noted that Sierra Leone recently established an embassy in Ireland, reflecting the long-standing and cordial relations between the two countries.

    “Your leadership and diplomatic style will be missed. You were always present and supportive at diplomatic meetings,” the President recalled. “I wish you success in your future endeavors.”

    Distributed by APO Group on behalf of State House Sierra Leone.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI United Nations: Deep dive into the International Seabed Authority: Why it matters now

    Source: United Nations 2

    At a time when the international community seeks to regulate the rich tapestry of the planet’s ocean floors while countries and corporations speed towards deep-sea mining opportunities, here’s what you need to know about ISA and why it matters now:

    What does it do?

    ISA manages the mineral resources of the seabed beyond national jurisdiction, which covers 54 per cent of the world’s oceans, for “the shared benefit of all humankind”.

    Created by the UN Convention on the Law of the Sea in 1994, ISA is aims to ensure that all economic activities in the deep seabed, including mining, are regulated and responsibly managed.

    Mandated to ensure the effective protection of the marine environment from harmful effects that may arise from deep-seabed-related activities, its work also contributes to the 2030 Agenda for Sustainable Development.

    Seabeds contain rich fauna and an array of rare earth minerals.

    Why it matters now?

    As the world’s only international body that focuses on the deep-sea area beyond national borders, ISA aims to address pressing concerns, from plastic waste littering oceans to the race to secure rare earth minerals to quench the world’s insatiable thirst for lithium batteries and a range of tech items.

    What kind of rare earth minerals are on the ocean floor? Copper, cobalt, gold, lanthanum, neodymium, nickel, silver, yttrium and zinc to name a few.

    Right now, countries can pursue deep-sea mining within their own territorial waters or “exclusive economic zones”. But, under international law, the deep seabed belongs to no single country or corporation, ISA Secretary-General Leticia Carvalho wrote in a recent op-ed.

    “It is our common heritage,” she said.

    An active volcano on the ocean floor.

    What’s the draft mining code?

    Right now, nations are looking for ever more sources of rare earth minerals to meet demand for renewable energy technologies and such items as mobile phones and computers. The deep-sea contains a plethora of supplies. That’s where the draft mining code comes in.

    During its 30th session, ISA members are working on a draft code that would protect the marine environment and build a foundation for ensuring that any activities in the deep-sea area are conducted responsibly and in line with environmental sustainability principles as well as benefitting all of humanity.

    A food container seen resting at 4,947m on the slopes of an underwater canyon near the North Marianas Islands in the Pacific Ocean.

    Tackling the ‘missing plastics paradox’

    Plastic pollution is another part of the problem. To address this and other pressing issues, ISA members adopted a global research agenda in July 2020, serving as an action plan for marine scientific research with six strategic priorities that include advancing knowledge of deep-sea ecosystems, promoting data sharing and providing insights into the scientific landscape of plastics in the deep-sea.

    This latter growing global challenge has potential consequences for the sustainable use of oceans. In 2019, the plastics industry produced over 450 million tonnes of plastic, a figure expected to rise in the coming decades and is likely to increase pressure on marine environments and species. Yet, a portion of plastics entering the oceans remains unaccounted for, a phenomenon known as the “missing plastics paradox”.

    Some researchers suggest that the deep sea may act as a sink for plastic debris, where their prolonged persistence could pose risks to these environments.

    Acorn worms were one of the many types of fauna observed in the deep-sea around the North Marianas Islands in the Pacific Ocean.

    The world’s new deep-sea biobank

    ISA has also just begun filling its new biobank, launched in June on the margins of the UN Ocean Conference in Nice, France. The Deep-Sea Biobank Initiative (DBI) aims to enhance access to deep-sea biological samples and genetic data collected from the international seabed area.

    Designed to promote deep-sea research and inclusive scientific collaboration, particularly for developing States, the initiative will establish a global repository of biological samples and develop standard operating procedures to enhance data quality, sharing and use by stakeholders.

    “The DBI is ISA’s response to a growing need to advance research, share data, build capacity and facilitate access to deep-sea knowledge, particularly for developing States,” said the authority’s chief Carvalho. “We aim to create standardised and equitable pathways for scientific collaboration, empowering countries and institutions to explore, understand and protect the ocean’s most remote ecosystems.”

    The International Seabed Authority has emerged as a central institution of global ocean architecture, charting a course towards responsible and sustainable use.

    ‘DeepData’ diving

    The wealth of data and information ISA has collected has been critical to shaping environmental management plans. Every data byte collected through deep-sea exploration adds critical new information about life in the ocean and assists with decision making.

    In launching the DeepData database in 2019, ISA made publicly available for the first time the biggest and most complete global repository of environmental data and information on the deep-sea area.

    Exactly how much data has been collected? As of May 2023, DeepData contained over 10 terabytes, roughly equivalent to 6.9 million Instagram uploads. Widely used around the world, it had about 2.4 million hits from visitors in 2022 alone and more than 160 citations in scientific publications.

    Learn more about ISA here.

    • The International Seabed Authority (ISA) has 170 members
    • ISA is an autonomous intergovernmental organization established by the UN
    • Members meet annually to address pressing issues
    • The 30th session concludes with the ISA assembly meeting from 21 to 25 July in Kingston, Jamaica

    MIL OSI United Nations News –

  • MIL-OSI Africa: Portugal Reaffirms Commitment to Strengthening Strategic Partnership with Morocco

    Source: APO


    .

    The Portuguese Minister of State and Foreign Affairs, Paulo Rangel, praised, on Tuesday in Lisbon, the excellent bilateral ties with the Kingdom of Morocco, reaffirming the mutual will to strengthen the strategic partnership between the two countries, which represents a stellar cooperation model.

    This position was set out in the Joint Statement signed at the end of his meeting with the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita.

    On this occasion, MFA Bourita and his Portuguese peer welcomed the excellent bilateral ties which continue to gain new momentum, strengthened in 2024 by the celebrations of the 250th anniversary of the historic Peace and Friendship Agreement signed between the two countries in 1774, and the 30th anniversary of the Friendship, Neighbourhood and Cooperation Treaty, signed in Rabat on May 30, 1994.

    The two ministers stressed the need to work towards implementing the commitments contained in the strategic partnership linking the two countries, endorsed at the 14th session of the High-Level Meeting held in Lisbon in May 2023.

    In this respect, MFA Bourita and Rangel seized the opportunity to underline the economic potential and the means to be deployed to further strengthen cooperation in priority areas, notably green hydrogen, calling for continued joint efforts to install the electricity interconnection project and ensure connectivity, including maritime connectivity, between the two countries.

    The two ministers also welcomed the joint organization by Morocco and Portugal, alongside Spain, of the 2030 Football World Cup, underscoring the momentum that could be unleashed by such a large-scale event in terms of shared prosperity and growth, as well as cultural rapprochement between the two countries.

    Regrading shared objectives and responsibilities, the two leaders undertook to pursue consultations and coordination within international bodies.

    Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.

    MIL OSI Africa –

  • MIL-OSI Africa: Morocco: Portugal Welcomes Atlantic Initiatives Launched by His Majesty (HM) the King in Favor of Africa

    Source: APO


    .

    Portugal, as an Atlantic country, welcomes the Atlantic Initiatives launched by His Majesty King Mohammed VI in favor of the African continent.

    This position was expressed by the Portuguese Minister of State and Foreign Affairs, Mr. Paulo Rangel, in a Joint Statement signed following his meeting on Tuesday in Lisbon with the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita.

    In this Joint Statement, Portugal, as an Atlantic country, thus welcomed the Atlantic Initiatives launched by His Majesty King Mohammed VI in support of the African continent, notably the Initiative of the Atlantic African States Process, the Royal International Initiative to facilitate access of Sahel countries to the Atlantic Ocean, and the Nigeria-Morocco Atlantic African Gas Pipeline Project.

    Rangel also praised the role of the Kingdom of Morocco as a driver of development and a provider of stability in the region and across Africa. In this regard, he commended the reforms undertaken by the Kingdom under the enlightened leadership of His Majesty King Mohammed VI.

    The Kingdom of Morocco and the Republic of Portugal emphasized their positive and constructive roles in maintaining stability, security, and peace in their respective regions. They also reaffirmed their commitment to these principles, as well as to the peaceful resolution of conflicts and respect for the territorial integrity and sovereignty of States, the Joint statement adds.

    The Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Mr. Nasser Bourita, paid an official visit to Portugal at the invitation of the Portuguese Minister of State and Foreign Affairs, Mr. Paulo Rangel.

    Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.

    MIL OSI Africa –

  • MIL-OSI: Taxback International rebrands as Fintua

    Source: GlobeNewswire (MIL-OSI)

    Kilkenny, Ireland , July 22, 2025 (GLOBE NEWSWIRE) — Taxback International, a global leader in VAT compliance and recovery, has officially rebranded as Fintua. This rebrand represents the fusion of decades of indirect tax expertise with next-generation SaaS technology, setting a new standard for digital solutions in the fintech space. With this rebrand, the company reinforces its commitment to delivering smarter, more scalable fintech solutions to accelerate positive digital change across the indirect tax landscape.

    Fintua are a global fintech leader, delivering specialist tax technology solutions for indirect tax recovery, compliance, eInvoicing and payments.

    Why the change?

    Fintua represents the evolution of our business from a specialist in VAT reclaim to a global technology expert in the wider fintech industry. As indirect tax grows more complex, businesses are seeking smarter, more agile solutions. Our rebrand signals a commitment to empowering global tax and finance professionals with innovative technology that simplifies complexity, reduces risk and transforms how tax is managed. 

    The name Fintua blends our financial technology focus with a strong connection to our Irish heritage. Fin reflects our fintech expertise, while Tua derived from the Irish word tuath (meaning people or community), highlights our collaborative and client-centric values.  

    A new chapter of innovation 

    Rebranding to Fintua represents more than a name change – it is a statement of intent. We remain the trusted partner our clients know, but with an even greater focus on developing intuitive, expert-built technology that meets both current and future tax challenges. 

    “As we embark on this exciting journey to become Fintua, I am thrilled to see our company evolve into a brand that truly reflects our innovative spirit and commitment to tax technology,” said Catherine Quirke, CEO of Fintua. “This rebranding marks a significant milestone in our growth, and identifies with our ability and commitment to deliver cutting-edge solutions that meet the evolving needs of our customers.” 

    Fintua’s vision is to be a leader in breakthrough technology, accelerating positive digital change throughout the indirect tax and wider fintech community. Our values; empowering, progressive, collaborative, and perceptive—will continue to guide every solution we deliver. 

    “The rebrand of Taxback International to Fintua is a proud moment for all of us at CluneTech. It’s a reflection of how far the business has come since its early days in Kilkenny – growing from a VAT reclaim specialist into a global technology leader in tax and fintech. For me, Fintua stands for innovation, ambition, and the power of a great team working together to solve complex challenges for businesses worldwide. I’m excited to see Fintua lead the way into this new era, continuing our tradition of empowering clients and driving positive change across the industry.” – Terry Clune, CEO and Founder of CluneTech. 

    About Fintua

    Fintua is a global fintech leader, delivering specialist tax technology solutions for indirect tax recovery, compliance, eInvoicing and payments. 

    Press inquiries

    Fintua
    https://fintua.com/
    Katie Fitzpatrick
    kfitzpatrick@fintua.com
    +353 87 020 3636
    IDA Business and Technology Park,
    Ring Road,
    Kilkenny,
    R95 ETN5

    The MIL Network –

  • MIL-OSI: ASM reports second quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    July 22, 2025, 6 p.m. CET
     
    Solid Q2 results against a backdrop of continued mixed market conditions

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q2 2025 results (unaudited).

    Financial highlights

    € million Q2 2024 Q1 2025 Q2 2025
    New orders 755.4 834.2 702.5
    yoy change % at constant currencies 56% 14% (4%)
           
    Revenue 706.1 839.2 835.6
    yoy change % as reported 6% 31% 18%
    yoy change % at constant currencies 6% 26% 23%
           
    Gross profit 352.0 447.8 433.2
    Gross profit margin % 49.8  % 53.4  % 51.8  %
           
    Operating result 177.6 266.2 258.5
    Operating result margin % 25.1  % 31.7 % 30.9  %
           
    Adjusted operating result 1 182.3 271.0 263.2
    Adjusted operating result margin %1 25.8  % 32.3 % 31.5  %
           
    Net earnings (losses) 159.0 (28.9) 202.4
    Adjusted net earnings 1 164.7 191.9 173.0

    1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €702 million in Q2 2025 decreased by 4% over the same period last year at constant currency (decreased by 7% as reported). Compared to Q1 2025, orders decreased by 10% at constant currency. This sequential decrease is explained by lower advanced logic/foundry orders due to timing of orders. The y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.
    • Revenue of €836 million increased by 23% at constant currencies (increased by 18% as reported) from Q2 last year. At constant currencies, revenue increased by 7% compared to Q1 2025, which was above our guidance range of +1% to +6% at constant currencies. Revenue in Q2 2025 was driven by foundry, followed by memory, and logic.
    • Gross profit margin of 51.8% in Q2 2025 improved compared to 49.8% in Q2 last year, while it decreased, as expected, compared to 53.4% in Q1 2025. Q2 2025 margin remained healthy thanks to mix, including continued strong sales to China.
    • Adjusted operating result margin of 31.5% increased by 5.7% points compared to the same period last year and slightly decreased by 0.8% points compared to previous quarter. The y-o-y improvement is mainly due to higher gross profit margin this quarter, and a one-off tax charge which resulted in a higher SG&A cost last year.
    • Reported net earnings included a reversal of impairment of €34 million from our stake in ASMPT (Q1 included a €215 million impairment), triggered by the increase in market valuation in the recent period. There is no cash impact. Following the impairment, and in line with our accounting policy, the changes in the market value of ASMPT will be included in our quarterly net results in case of further decline or until the impairment charge has been reversed.

    Comment

    “ASM continued to deliver solid quarterly results against a backdrop of mixed market conditions. Sales increased by 23% year-on-year at constant currencies to €836 million,” said Hichem M’Saad, CEO of ASM. “Compared to the first quarter of 2025 revenue increased by +7%, which was above the top end of our guidance. The y-o-y increase was led by the logic/foundry segment as well as continued momentum in our spares & services business.

    The market environment continued to show a mixed picture in the second quarter. Growth in AI is fueling ongoing capacity expansions in the leading-edge logic/foundry and HBM-related DRAM segments, while conditions in most of the other market segments are still slow.

    Bookings amounted to €702 million in Q2 2025, down 10% compared to Q1 at constant currencies, mainly due to lower advanced logic/foundry bookings. However, the underlying trend in this segment, particularly in gate-all-around (GAA), remains healthy and we expect related leading-edge logic/foundry bookings to pick up again in Q3.

    The gross margin, while down from a high level of 53.4%, remained strong at 51.8%, again driven by product and customer mix, improved operational efficiency and a better-than-expected contribution from China sales. For the full year 2025, we still expect the gross margin to be in the upper half of the target range of 46%-50%. This excludes any potential direct impact from tariffs, which at this point remains difficult to predict. We have various scenarios in place to mitigate potential financial impacts.

    Operating profit increased strongly in Q2, by approximately 40% adjusted for a one-off expense last year, on the back of increased sales, gross margin improvement and continued cost control, whilst continuing to invest in R&D.

    We are well positioned to at least maintain our ALD and epi market share from the first to the second GAA logic/foundry nodes and remain focused on further share gains in memory, as ALD and epi intensity grows in upcoming DRAM nodes.”

    Outlook

    We expect revenue in the second half of 2025 to be approximately similar to the level in the first half, at constant currencies. For Q3 2025, we expect total ASM revenue to be flat to slightly lower, in a range of 0% to -5% at constant currencies compared to Q2 2025. As a reminder, with the Q1 2025 results we changed our quarterly revenue guidance from absolute Euro amounts to growth rates at constant currencies, given the increased exchange rate volatility in the recent periods and ASM’s significant USD revenue exposure (>80% of sales).
    For Q3 2025, we expect advanced logic/foundry bookings to be higher than in Q2 2025 and China bookings to be lower, with the overall book-to-bill in Q3 projected to be below 1.

    Based on comparable sales in the second half versus the first half, we expect revenue growth at constant currencies in 2025 to be around the midpoint of the guidance range of +10% to +20%. We continue to expect to outperform the WFE market, which is forecasted to grow slightly this year. Uncertainties related to tariffs, geopolitical tensions and the overall economic outlook continue to be relatively high.
    The key growth driver for ASM this year is the high-volume manufacturing ramp of the 2nm GAA node. Despite some further shifts in capex forecasts among customers in this segment, our view for a strong increase in advanced logic/foundry sales in 2025 has not changed. Demand in advanced HBM-related DRAM applications remains solid, but conditions in the other parts of the memory market are sluggish. Against a very strong level last year, we still expect the memory contribution to drop this year (to less than 20% of equipment sales in 2025 versus 25% in 2024).

    In the power/analog/wafer segment equipment demand remains depressed with no meaningful sales recovery in the remainder of the year, despite some early signs of improvement in the related end markets.
    Demand in the Chinese market held up better than initially expected in the first half. We now expect China equipment sales in 2025 to be around the top end of the previously guided range of low to high 20s percentage of total ASM revenue. China sales and bookings in the second half are projected to be lower than in the first half.

    Share buyback program

    The €150 million share buyback program, announced in February 2025, started on April 30, 2025. On June 30, 2025, 40% of the program was completed at an average share price of €486.48 under ASM’s share buyback program (of which 28.6% has been delivered and settled in cash within the reporting period, and the remainder on July 1, 2025).

    Investor Day

    We will host our 2025 Investor Day on September 23. Speakers will include our CEO, CFO and other members of ASM’s senior management team. Further details will be announced later.

    Interim financial report

    ASM International N.V. (Euronext Amsterdam: ASM) today also publishes its Interim Financial Report for the six-month period ended June 30, 2025.

    This report includes an Interim Management Board Report, including ESG update, and condensed consolidated interim financial statements prepared in accordance with IAS 34 (Interim Financial Reporting). The Interim Financial Report comprises regulated information within the meaning of the Dutch Financial Markets Supervision Act (“Wet op het Financieel Toezicht”) and is available in full on our website www.asm.com.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, July 23, 2025, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI: ASM reports second quarter 2025 results

    Source: GlobeNewswire (MIL-OSI)

    Almere, The Netherlands
    July 22, 2025, 6 p.m. CET
     
    Solid Q2 results against a backdrop of continued mixed market conditions

    ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q2 2025 results (unaudited).

    Financial highlights

    € million Q2 2024 Q1 2025 Q2 2025
    New orders 755.4 834.2 702.5
    yoy change % at constant currencies 56% 14% (4%)
           
    Revenue 706.1 839.2 835.6
    yoy change % as reported 6% 31% 18%
    yoy change % at constant currencies 6% 26% 23%
           
    Gross profit 352.0 447.8 433.2
    Gross profit margin % 49.8  % 53.4  % 51.8  %
           
    Operating result 177.6 266.2 258.5
    Operating result margin % 25.1  % 31.7 % 30.9  %
           
    Adjusted operating result 1 182.3 271.0 263.2
    Adjusted operating result margin %1 25.8  % 32.3 % 31.5  %
           
    Net earnings (losses) 159.0 (28.9) 202.4
    Adjusted net earnings 1 164.7 191.9 173.0

    1 Adjusted figures are non-IFRS performance measures. Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

    • New orders of €702 million in Q2 2025 decreased by 4% over the same period last year at constant currency (decreased by 7% as reported). Compared to Q1 2025, orders decreased by 10% at constant currency. This sequential decrease is explained by lower advanced logic/foundry orders due to timing of orders. The y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.
    • Revenue of €836 million increased by 23% at constant currencies (increased by 18% as reported) from Q2 last year. At constant currencies, revenue increased by 7% compared to Q1 2025, which was above our guidance range of +1% to +6% at constant currencies. Revenue in Q2 2025 was driven by foundry, followed by memory, and logic.
    • Gross profit margin of 51.8% in Q2 2025 improved compared to 49.8% in Q2 last year, while it decreased, as expected, compared to 53.4% in Q1 2025. Q2 2025 margin remained healthy thanks to mix, including continued strong sales to China.
    • Adjusted operating result margin of 31.5% increased by 5.7% points compared to the same period last year and slightly decreased by 0.8% points compared to previous quarter. The y-o-y improvement is mainly due to higher gross profit margin this quarter, and a one-off tax charge which resulted in a higher SG&A cost last year.
    • Reported net earnings included a reversal of impairment of €34 million from our stake in ASMPT (Q1 included a €215 million impairment), triggered by the increase in market valuation in the recent period. There is no cash impact. Following the impairment, and in line with our accounting policy, the changes in the market value of ASMPT will be included in our quarterly net results in case of further decline or until the impairment charge has been reversed.

    Comment

    “ASM continued to deliver solid quarterly results against a backdrop of mixed market conditions. Sales increased by 23% year-on-year at constant currencies to €836 million,” said Hichem M’Saad, CEO of ASM. “Compared to the first quarter of 2025 revenue increased by +7%, which was above the top end of our guidance. The y-o-y increase was led by the logic/foundry segment as well as continued momentum in our spares & services business.

    The market environment continued to show a mixed picture in the second quarter. Growth in AI is fueling ongoing capacity expansions in the leading-edge logic/foundry and HBM-related DRAM segments, while conditions in most of the other market segments are still slow.

    Bookings amounted to €702 million in Q2 2025, down 10% compared to Q1 at constant currencies, mainly due to lower advanced logic/foundry bookings. However, the underlying trend in this segment, particularly in gate-all-around (GAA), remains healthy and we expect related leading-edge logic/foundry bookings to pick up again in Q3.

    The gross margin, while down from a high level of 53.4%, remained strong at 51.8%, again driven by product and customer mix, improved operational efficiency and a better-than-expected contribution from China sales. For the full year 2025, we still expect the gross margin to be in the upper half of the target range of 46%-50%. This excludes any potential direct impact from tariffs, which at this point remains difficult to predict. We have various scenarios in place to mitigate potential financial impacts.

    Operating profit increased strongly in Q2, by approximately 40% adjusted for a one-off expense last year, on the back of increased sales, gross margin improvement and continued cost control, whilst continuing to invest in R&D.

    We are well positioned to at least maintain our ALD and epi market share from the first to the second GAA logic/foundry nodes and remain focused on further share gains in memory, as ALD and epi intensity grows in upcoming DRAM nodes.”

    Outlook

    We expect revenue in the second half of 2025 to be approximately similar to the level in the first half, at constant currencies. For Q3 2025, we expect total ASM revenue to be flat to slightly lower, in a range of 0% to -5% at constant currencies compared to Q2 2025. As a reminder, with the Q1 2025 results we changed our quarterly revenue guidance from absolute Euro amounts to growth rates at constant currencies, given the increased exchange rate volatility in the recent periods and ASM’s significant USD revenue exposure (>80% of sales).
    For Q3 2025, we expect advanced logic/foundry bookings to be higher than in Q2 2025 and China bookings to be lower, with the overall book-to-bill in Q3 projected to be below 1.

    Based on comparable sales in the second half versus the first half, we expect revenue growth at constant currencies in 2025 to be around the midpoint of the guidance range of +10% to +20%. We continue to expect to outperform the WFE market, which is forecasted to grow slightly this year. Uncertainties related to tariffs, geopolitical tensions and the overall economic outlook continue to be relatively high.
    The key growth driver for ASM this year is the high-volume manufacturing ramp of the 2nm GAA node. Despite some further shifts in capex forecasts among customers in this segment, our view for a strong increase in advanced logic/foundry sales in 2025 has not changed. Demand in advanced HBM-related DRAM applications remains solid, but conditions in the other parts of the memory market are sluggish. Against a very strong level last year, we still expect the memory contribution to drop this year (to less than 20% of equipment sales in 2025 versus 25% in 2024).

    In the power/analog/wafer segment equipment demand remains depressed with no meaningful sales recovery in the remainder of the year, despite some early signs of improvement in the related end markets.
    Demand in the Chinese market held up better than initially expected in the first half. We now expect China equipment sales in 2025 to be around the top end of the previously guided range of low to high 20s percentage of total ASM revenue. China sales and bookings in the second half are projected to be lower than in the first half.

    Share buyback program

    The €150 million share buyback program, announced in February 2025, started on April 30, 2025. On June 30, 2025, 40% of the program was completed at an average share price of €486.48 under ASM’s share buyback program (of which 28.6% has been delivered and settled in cash within the reporting period, and the remainder on July 1, 2025).

    Investor Day

    We will host our 2025 Investor Day on September 23. Speakers will include our CEO, CFO and other members of ASM’s senior management team. Further details will be announced later.

    Interim financial report

    ASM International N.V. (Euronext Amsterdam: ASM) today also publishes its Interim Financial Report for the six-month period ended June 30, 2025.

    This report includes an Interim Management Board Report, including ESG update, and condensed consolidated interim financial statements prepared in accordance with IAS 34 (Interim Financial Reporting). The Interim Financial Report comprises regulated information within the meaning of the Dutch Financial Markets Supervision Act (“Wet op het Financieel Toezicht”) and is available in full on our website www.asm.com.

    About ASM

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Cautionary Note Regarding Forward-Looking Statements: All matters discussed in this press release, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholders or other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, changes in import/export regulations, pandemics, epidemics and other risks indicated in the company’s reports and financial statements. The company assumes no obligation nor intends to update or revise any forward-looking statements to reflect future developments or circumstances.

    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Quarterly earnings conference call details

    ASM will host the quarterly earnings conference call and webcast on Wednesday, July 23, 2025, at 3:00 p.m. CET.

    Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

    A simultaneous audio webcast and replay will be accessible at this link.

    Contacts  
    Investor and media relations Investor relations
    Victor Bareño Valentina Fantigrossi
    T: +31 88 100 8500 T: +31 88 100 8502
    E: investor.relations@asm.com E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI: Inside Information: Nokia lowers 2025 operating profit guidance due to currency  

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    22 July 2025 at 19:00 EEST

    Inside Information: Nokia lowers 2025 operating profit guidance due to currency
      

    • Nokia lowers its comparable operating profit guidance range to EUR 1.6 billion to EUR 2.1 billion from EUR 1.9 billion to EUR 2.4 billion.  
    • Adjustment relates to currency headwinds from the weaker USD and tariffs. 
    • Reports preliminary Q2 financial results of approximately EUR 4.55 billion net sales and EUR 0.3 billion comparable operating profit.  


    Espoo, Finland – Nokia is today providing an update to its financial guidance for full year 2025. Nokia’s underlying business performed as expected through the first half, however, considering currency and tariff headwinds which are outside its control and have transpired since its Q1 results, the company feels it is prudent at this point to lower its operating profit outlook range. Nokia is lowering its comparable operating profit outlook range to EUR 1.6 billion to EUR 2.1 billion (previously EUR 1.9 billion to EUR 2.4 billion). Nokia’s guidance for free cash flow conversion from comparable operating profit remains 50% to 80%. Nokia’s guidance is now based on a EUR:USD rate of 1.17, while the currency rate used in January was 1.04.

    Since Nokia provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.  

    Update to Nokia’s financial outlook for 2025 

      Updated  Previous (Issued 30 Jan) 
    Comparable Operating Profit1  EUR 1.6 billion to EUR 2.1 billion  EUR 1.9 billion to EUR 2.4 billion 
    Free cash flow conversion from comparable operating profit  50% to 80%  50% to 80% 

    1 Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

    In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.  

    Nokia will release its second quarter and half year 2025 financial results on Thursday 24th July 2025.  

    Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 24 July 2025 at 11:30am EEST / 09:30am BST / 04:30am US EST.  

    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.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507 
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS 

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, “see”, “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

    The MIL Network –

  • MIL-OSI: Inside Information: Nokia lowers 2025 operating profit guidance due to currency  

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    22 July 2025 at 19:00 EEST

    Inside Information: Nokia lowers 2025 operating profit guidance due to currency
      

    • Nokia lowers its comparable operating profit guidance range to EUR 1.6 billion to EUR 2.1 billion from EUR 1.9 billion to EUR 2.4 billion.  
    • Adjustment relates to currency headwinds from the weaker USD and tariffs. 
    • Reports preliminary Q2 financial results of approximately EUR 4.55 billion net sales and EUR 0.3 billion comparable operating profit.  


    Espoo, Finland – Nokia is today providing an update to its financial guidance for full year 2025. Nokia’s underlying business performed as expected through the first half, however, considering currency and tariff headwinds which are outside its control and have transpired since its Q1 results, the company feels it is prudent at this point to lower its operating profit outlook range. Nokia is lowering its comparable operating profit outlook range to EUR 1.6 billion to EUR 2.1 billion (previously EUR 1.9 billion to EUR 2.4 billion). Nokia’s guidance for free cash flow conversion from comparable operating profit remains 50% to 80%. Nokia’s guidance is now based on a EUR:USD rate of 1.17, while the currency rate used in January was 1.04.

    Since Nokia provided guidance in January for the full year 2025, two headwinds outside its control are impacting the 2025 outlook. The largest headwind is currency fluctuations (particularly the weaker USD), an approximately EUR 230 million negative impact (EUR 140 million operationally and EUR 90 million from non-cash venture fund currency revaluations). Also, the current tariff landscape is expected to impact full year operating profit by EUR 50 million to EUR 80 million.  

    Update to Nokia’s financial outlook for 2025 

      Updated  Previous (Issued 30 Jan) 
    Comparable Operating Profit1  EUR 1.6 billion to EUR 2.1 billion  EUR 1.9 billion to EUR 2.4 billion 
    Free cash flow conversion from comparable operating profit  50% to 80%  50% to 80% 

    1 Outlook is based on a EUR:USD rate of 1.17 for the remainder of the year.

    In the second quarter, based on its preliminary financials, Nokia expects to report net sales of approximately EUR 4.55 billion and comparable operating profit of EUR 300 million. The Q2 comparable operating profit includes a negative impact from its venture funds of EUR 50 million primarily related to currency.  

    Nokia will release its second quarter and half year 2025 financial results on Thursday 24th July 2025.  

    Nokia will conduct a conference call with analysts and investors to discuss its second quarter performance and business outlook on 24 July 2025 at 11:30am EEST / 09:30am BST / 04:30am US EST.  

    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.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507 
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS 

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “could“, “see”, “plan”, “ensure” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in our 2024 annual report on Form 20-F published on 13 March 2025 under Operating and financial review and prospects-Risk factors.

    The MIL Network –

  • MIL-OSI: SOITEC REPORTS FIRST QUARTER REVENUE OF FISCAL YEAR 2026

    Source: GlobeNewswire (MIL-OSI)

    SOITEC REPORTS FIRST QUARTER REVENUE OF FISCAL YEAR 2026

    • Q1’26 revenue: €92m, down 16% year-on-year on an organic1basis, slightly better than the guidance
    • Q1’26 year-on-year revenue development reflects, as expected, ongoing RF-SOI inventory correction among customers, a weak automotive market, the anticipated phase-out of first-generation Imager-SOI, and the strong momentum in Photonics-SOI
    • Q2’26 revenue is expected to grow around 50% versus Q1’26, on an organic basis

    Bernin (Grenoble), France, July 22nd, 2025 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced unaudited consolidated revenue of 92 million Euros for the first quarter of FY’26 (ended on June 29th, 2025), down 24% on a reported basis compared with 121 million Euros achieved in the first quarter of FY’25. This reflects a 16% decline on an organic basis, a negative currency impact of 5% and a negative scope effect2 of 3% related to the divestment of Dolphin Design’s businesses.

    Pierre Barnabé, Soitec’s CEO, commented: “Q1’26 revenue was slightly better than the guidance, down 16% year-on-year on an organic basis. This includes the phase-out of Imager-SOI. Artificial Intelligence continues to support strong growth in Edge & Cloud AI division, with traction both at the edge and in the cloud accelerating adoption of FD-SOI for Edge AI and Photonics-SOI for data centers. Conversely, the correction of RF-SOI inventories among our direct customers, and the ongoing weakness in the Automotive market continued to impact our revenue.

    Looking ahead, we expect Q2’26 revenue to grow around 50% versus Q1’26, on an organic basis. This reflects ongoing RF-SOI inventory correction in Mobile Communications, continued weakness in Automotive & Industrial, and strong growth in Edge & Cloud AI.

    In an uncertain and volatile environment, we remain focused on the factors within our control to prepare Soitec for the future. We are broadening our end-market exposure and customer base to diversify the company’s foundations. In parallel, we are accelerating the expansion of our product portfolio – across both SOI and compound semiconductors – to serve a wider range of applications. At the same time, we are building robust ecosystems that support the adoption of our products, with the ambition of establishing them as new industry standards.”

    First quarter FY’26 consolidated revenue

      Q1’26 Q1’25 Q1’26/Q1’25
             
             
    (Euros million)     change reported chg. at const. exch. rates & perimeter
             
    Mobile Communications 43 48 -12% -7%
    Automotive & Industrial 5 26 -82% -81%
    Edge & Cloud AI 44 46 -4% +13%
             
    Revenue 92 121 -24% -16%

    Mobile Communications

    Mobile Communications revenue reached 43 million Euros in Q1’26, down 7% year-on-year on an organic basis.

    After a strong seasonal tailwind in Q4’25, further correction was expected in RF-SOI customer inventories. As a result, sales of RF-SOI wafers decreased to a low level in Q1’26, below Q1’25. This mostly reflects a significant year-on-year decrease in 200-mm RF-SOI volumes sold. Sales of 300-mm RF-SOI wafers were higher than in Q1’25, driven by higher volumes, despite a slightly negative price / mix effect.

    Sales of POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters were stable year-on-year, reflecting ongoing growth with key US customers and a temporary slowdown in Asia. POI is becoming the reference substrate for advanced Surface Acoustic Wave (SAW) filters, increasingly adopted by leading fabless globally.

    Sales of FD-SOI wafers, the only solution for fully integrated 5G mmWave system-on-chip, were significantly higher than in Q1’25. FD-SOI adoption is progressing with first design wins for Wi-Fi 7 SoCs, for premium Android smartphones.

    Automotive & Industrial

    In a persistently complicated automotive market, Automotive & Industrial revenue reached 5 million Euros in Q1’26, down 81% year-on-year on an organic basis.

    As expected, the Power-SOI inventory replenishment that took place at customer level in Q4’25, came at the expense of volumes in Q1’26, and will continue to impact Q2’26. Meanwhile, Soitec is accelerating the transition from 200-mm to 300-mm Power-SOI to address growing demand for Battery Management Systems.

    Automotive FD-SOI wafer sales were negligible in Q1’26, although the build-up of a solid ecosystem is supporting the strengthening of its adoption for analog/digital systems such as radars, microcontrollers and wireless connectivity.

    Regarding SmartSiCTM, the slower growth of the electric vehicle market combined with the longer qualification cycles confirms the delay in the production ramp-up, as already communicated.

    Edge & Cloud AI

    Edge & Cloud AI revenue reached 44 million Euros in Q1’26, up 13% on an organic basis compared to Q1’25 despite the discontinuation of the first generation of Imager-SOI wafers for 3D imaging applications, which recorded 25 million Dollars in revenue in Q1’25. On a reported basis, Edge & Cloud AI revenue went down 4% due to the scope effect of the divestment of Dolphin Design’s businesses combined with a negative currency impact.

    Soitec delivered another strong performance in Photonics-SOI in Q1’26, with sales significantly above Q1’25 levels. As AI computing power expands, driving demand for faster and more efficient data centers, Photonics-SOI stands out as the optimal solution for high-speed, high-bandwidth optical links, whether for pluggable transceivers or Co-Packaged Optics (CPOs). Soitec is capitalizing on strong Cloud infrastructure investments from Big Tech and AI players and is accelerating its Photonics-SOI roadmap with AI leaders.

    FD-SOI sales were also above Q1’25 levels. Thanks to its benefits in power efficiency, performance, thermal management, and reliability, FD-SOI is a key enabler of AI-driven IoT applications across consumer, healthcare, and industrial markets.

    Q2’26 outlook

    Q2’26 revenue is expected to grow around 50% versus Q1’26, on an organic basis. The impact from the phasing out of Imager-SOI will be less pronounced than in Q1’26, as Imager-SOI revenue amounted to approximately 7 million Dollars in Q2’25.

    Excluding Imager-SOI, Edge & Cloud AI is expected to maintain solid momentum and should be slightly up vs. Q1’26. Mobile Communications revenue will remain low, despite nearly doubling from Q1’26, as customers continue to work through excess RF-SOI inventory. As in Q1’26, Automotive & Industrial revenue in Q2’26 is expected to decline sharply versus Q2’25.

    Projected FY’26 Capex cash-out is confirmed around 150 million Euros, down from 230 million Euros in FY’25.

    Key events of Q1’26

    Soitec has successfully issued a new 200 million Euros Schuldschein loan

    This is a 200 million Euros Schuldschein loan offering a floating rate coupon with an average maturity of 4.1 years, which was subscribed by high quality European investors.
    The offering is structured in tranches of 3, 4, 5 & 7 years, with 72% of the transaction on the 4-year and 5-year tenors. The 100 million Euros initially planned were significantly oversubscribed, reflecting investor interest and confidence in Soitec’s financial profile and strategy, despite a volatile environment.
    The proceeds of the new Schuldschein loan will be used to partially refinance the 325 million Euros convertible bonds maturing in October 2025 and for general corporate purposes. Through this transaction, Soitec is actively managing its debt profile and extending its debt maturity.

    Soitec and PSMC collaborate on ultra-thin TLT technology for nm-scale 3D stacking

    On June 3rd, 2025, Soitec announced a strategic collaboration with Powerchip Semiconductor Manufacturing Corporation (PSMC). Under the collaboration, Soitec will supply PSMC 300mm substrates incorporating a release layer, Transistor Layer Transfer (TLT) ready, to support a new demonstration of advanced 3D chip stacking at the wafer level. This marks the first public announcement of Soitec’s TLT technology. The technology is an enabler for next-generation semiconductor designs that allow for more powerful, compact and energy-efficient chips – with potential applications ranging from smartphones, tablets and AI devices to autonomous driving systems.

    CEA-Leti and Soitec announce strategic partnership to leverage FD-SOI for enhanced security of integrated circuits

    On June 18th, 2025, CEA-Leti and Soitec announced a strategic partnership to enhance the cybersecurity of integrated circuits (ICs) through the innovative use of fully depleted silicon-on-insulator (FD-SOI) technologies. This collaboration aims to position FD-SOI as a foundational platform for secure electronics by leveraging and extending its inherent resistance to physical attacks. At the heart of the initiative is a joint effort to experimentally validate and augment the security benefits of FD-SOI—from the substrate level up to circuit design. The project aims to deliver concrete data, practical demonstrations, and roadmap guidance to meet the surging cybersecurity demands in critical markets such as automotive, industrial IoT, and secure infrastructure

    # # #

    Analysts conference call to be held in English on Wednesday 23rdJuly at 8:00 am CET.

    To listen to this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20250723_1

    # # #

    Agenda

    Q2’26 revenue and H1’26 results are due to be published on November 19th, 2025, after market close.

    # # #

    Disclaimer

    This document is provided by Soitec (the “Company”) for information purposes only.

    The Company’s business operations and financial position are described in the Company’s Universal Registration Document (which notably includes the Annual Financial Report) which was filed on June 11th, 2025, with the French stock market authority (Autorité des Marchés Financiers, or AMF) under number D.25-0439. The French version of the 2024-2025 Universal Registration Document, together with English courtesy translation for information purposes of this document, are available for consultation on the Company’s website (www.soitec.com), in the section Company – Investors – Financial Reports.

    Your attention is drawn to the risk factors described in Chapter 2.1 (Risk factors and controls mechanism) of the Company’s Universal Registration Document.

    This document contains summary information and should be read in conjunction with the Universal Registration Document.

    This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The occurrence of any of the risks described in Chapter 2.1 (Risk factors and controls mechanism) of the Universal Registration Document may have an impact on these forward-looking statements.

    The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.

    The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document.

    This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.

    Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Company’s shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company’s securities in the United States.

    # # #

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 0.9 billion Euros in fiscal year 2024-2025. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI. The company relies on the talent and diversity of more than 2,200 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Nearly 4,300 patents have been registered by Soitec.

    Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

    For more information: visit our website and follow us on LinkedIn and X

    # # #

    Media Relations: media@soitec.com

    Investor Relations: investors@soitec.com

    # # #

    Consolidated revenue per quarter

    Quarterly revenue Q1’25 Q2’25 Q3’25 Q4’25 Q1’26  
    (Euros millions)            
    Mobile Communications 48   124   154   220 43    
    Automotive & Industrial 26 33 25 45 5  
    Edge & Cloud AI 46 61 47 63 44  
                 
    Revenue 121   217   226   327 92    
    Change in quarterly revenue Q1’26/Q1’25
    (vs. previous year) Reported
    change    		 Organic change1
         
    Mobile Communications -12% -7%
    Automotive & Industrial -82% -81%
    Edge & Cloud AI -4% +13%
         
    Revenue -24% -16%

    1         At constant exchange rates and comparable scope of consolidation:

    • in Q1’26 there is a negative scope effect related to the divestment of Dolphin Design’s mixed signal IP activities (completed on October 31st, 2024) and the divestment of Dolphin Design’s ASIC activities (completed on December 30th, 2024).

    1 At constant exchange rates and perimeter

    2 The scope effect is related to the divestment of Dolphin Design’s mixed-signal IP activities (completed on October 31st, 2024) and that of Dolphin Design’s ASIC activities (completed on December 30th, 2024)

    Attachment

    The MIL Network –

  • MIL-OSI Europe: United Nations – United States’ withdrawal from UNESCO (22.07.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    France regrets the United States’ decision to leave UNESCO, of which it is a founder member and a host country for its headquarters.

    Founded in 1946 to prevent conflicts through education, culture and tolerance, UNESCO helps maintain international peace and security. It embodies an effective multilateralism of action, focused on its missions to benefit populations, operating rehabilitation programmes in conflict zones, from Mosul in Iraq to Odessa in Ukraine.

    In this respect, France welcomes the reforms begun in 2018 by Director-General Audrey Azoulay, which have led to a stronger consensus within the organization.

    France supports UNESCO, which backs several of its priorities at international level, particularly access to education for all, the protection of endangered heritage, the protection of our oceans, the responsible development of artificial intelligence and the fight against anti-Semitism and hate speech.

    MIL OSI Europe News –

  • MIL-OSI Analysis: I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly

    Source: The Conversation – Canada – By Chris Houser, Professor in Department of Earth and Environmental Science, and Dean of Science, University of Waterloo

    Malcolm-Jamal Warner, the actor who played Theo Huxtable on The Cosby Show, has drowned on Costa Rica’s Caribbean coast.

    It is reported that he was swimming at Playa Cocles in Limon province when a current pulled him offshore. This is a beach popular among surfers and one that’s known to have large waves and strong currents.

    It’s also a beach that I have taken students to in order to study the formation of rip currents and to better understand what beach users know about the hazard.

    What exactly are rip currents?

    Rip currents — commonly referred to as rips or colloquially as rip tides — are found on ocean beaches and some large lakes around the world.



    Read more:
    The Great Lakes are powerful. Learning about ‘rip currents’ can help prevent drowning

    The rips at Playa Cocles and along a large part of the Costa Rican Caribbean coast are known as channel or bathymetric rips that form as the nearshore sand bar moves toward the land through the summer. The water thrown towards the land by the breaking waves returns offshore as a concentrated and fast flowing current at gaps in the nearshore sand bar.

    During storm conditions, we have measured the rip currents at Playa Cocles at over two metres per second. These rips are known to increase rapidly (or pulse) in strength due to changes in wave breaking, leading to unsuspecting swimmers being taken far offshore and exiting beyond the zone of breaking waves.

    Rip current at Playa Cocles showing change in size and strength with surfers for scale. (Chris Houser)

    While it can be difficult to spot a rip from shore, they can be identified by an area of relatively calm water between breaking waves, a patch of darker water or the offshore flow of water, sediment and debris.

    Caught in a rip current

    A person caught in a rip is transported away from shore into deeper waters, but they aren’t pulled under the water. If they are a weak swimmer or try to fight the current, they may panic and fail to find a way out of the rip and back to shore. Survivor stories highlight panic, anxiety, distress and fear, a tendency to fight the current and an inability to make a decision on how to escape the rip.

    While it is possible to “break the grip of the rip” by swimming parallel to the beach or toward breaking waves at an angle to the beach, there is no single escape strategy due to the unique rip circulation pattern.

    It’s possible to escape a rip by flipping onto your back, floating to keep your head above the water and following the current until you’re returned to the shore by the current or able to swim safely toward the shore. If you are taken beyond where the waves break, or you’re unable to swim back to shore, continue to float and signal for help.

    Rip currents account for more than 50 deaths a year in Costa Rica; approximately 19 drownings a year involve foreign tourists from the United States, Nicaragua, Canada and Germany. While most drownings in the country occur on Pacific coast beaches that are a short distance to the city of San José, more than five drownings occur each year along the Caribbean coast.

    Playa Cocles was the site of five drownings that occurred over eight days in 2004, an event that prompted tourism-dependent business owners to establish a lifeguard station on the beach.

    Costa Rican drownings

    On average, each drowning in Costa Rica costs more than US$2 million (USD). This includes the direct costs of search and rescue, the costs of repatriation and the long-term economic burden of a lost life. This is in addition to the great personal loss experienced by family and friends.

    A survey at Playa Cocles and other beaches in Costa Rica revealed that a majority of beach users did not observe warning signs and that many were unable to interpret the warning and did not change their behaviour.

    The majority of foreign drowning victims in Costa Rica had limited knowledge of rips and were unable to avoid the times and locations that were most hazardous.

    In general, visitors to a beach often use simple visual cues when deciding to take risks. Recent studies suggest that tourists think beach access points and resorts are located adjacent to safe swimming areas, particularly when visual cues such as manicured paths and promotional posters that promote swimming at those locations.

    Visitors are a high-risk group for drownings. They’re generally unfamiliar with the beach and its safety measures and often have poor knowledge of beach hazards, such as rip currents and breaking waves. This lack of knowledge can be exacerbated by language barriers, an overconfidence in swimming ability and peer pressure.

    Rip current and beach users at Playa Cocles. The red flag was placed by lifeguards to mark the location of the rip for beach users. (Chris Houser)

    Playa Cocles is a beautiful beach, but it’s known to have dangerous rips depending on the size of the breaking waves and the position of the sand bar.

    When visiting any beach — from the Caribbean to the Great Lakes — it’s important to remember that there may be rip currents and to take serious precautions.

    Chris Houser receives funding from NSERC.

    – ref. I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly – https://theconversation.com/i-research-rip-currents-where-cosby-show-star-malcolm-jamal-warner-drowned-heres-why-theyre-so-deadly-261653

    MIL OSI Analysis –

  • MIL-OSI Europe: Eurojust helps catch alleged author of threatening emails to schools in Czechia, Slovakia and Latvia

    Source: European Union 2

    Eurojust has assisted the authorities in the Czech Republic, Slovakia and Latvia with the apprehension of the alleged perpetrator who was responsible for sending thousands of emails in September last year threatening schools with explosions. The mass threats, which were also sent to other educational institutions and leisure centres, caused major public concern and led to the suspension of classes at the beginning of the school year.

    Eurojust supported the national authorities involved by setting up a joint investigation team (JIT) dedicated to the case, as well as providing additional cross-border judicial support.

    The alleged perpetrator also used the social network Telegram to spread his threats. He was apprehended in the Ukrainian city of Dnipro last week but was released pending potential further steps to be taken by the authorities.

    © Dnipropetrovsk Regional Prosecutor’s Office

    Given the mass scale of the threats at the same time across three countries, the police authorities involved coordinated their investigations, assisted by the setting up of the JIT. The joint investigative efforts, using the cybercrime expertise of the police, led to the identification of an alleged perpetrator, operating from the Ukrainian city of Dnipro.

    With the participation of Czech and Slovak police officers, a joint action took place in Dnipro last week, during which the alleged perpetrator was apprehended and one individual was questioned. Furthermore, two locations were searched, which led to the seizure of computer equipment.

    Thanks to the good and close cooperation of all the authorities concerned, the operation was successfully carried out under extremely difficult circumstances, very close to the frontline of the war in Ukraine, with Ukrainian, Czech and Slovak officers exposed to heavy risks.

    Eurojust offered support not only through the establishment of the JIT but also by organising a coordination meeting to prepare for the joint action day in Ukraine. The operation was carried out at the request of and by the following authorities:

    • Czech Republic: High Public Prosecutor’s Office in Prague; National Counterterrorism, Extremism and Cybercrime Agency (NCTEKK)
    • Latvia: Rīga Pārdaugava Prosecution Office; 1st Unit of Cybercrime Enforcement Department of the Central Criminal Police Department of the State Police
    • Slovakia: General Prosecutor´s Office of the Slovak Republic; Police Department West, Anti-Crime Unit, Bureau for Combating Organized Crime of the Presidium of the Police Corps (Police ACU); Counter Terrorism Centre, Presidium of the Police Corps
    • Ukraine: Dnipropetrovsk regional Prosecutor’s Office; Main Department of National Police in Dnipropetrovsk region; Division for Combating Cybercrime in Dnipropetrovsk region of the Cyber Police Department of National Police of Ukraine

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