Category: Trade

  • MIL-OSI United Kingdom: The Pile Fuel Cladding Silo

    Source: United Kingdom – Government Statements

    Case study

    The Pile Fuel Cladding Silo

    The Pile Fuel Cladding Silo is one of our oldest waste stores and one of the highest hazard facilities on the Sellafield site, dating to the early 1950’s

    Based on the simple design of a grain silo, the concrete structure is 29 metres long 10 metres wide and 18 metres high and is divided into 6 tall compartments.

    The challenge

    One of our biggest challenges at Sellafield is the need to take waste out of our legacy ponds and silos.

    These buildings are our most hazardous nuclear facilities and weren’t designed with decommissioning in mind.

    The Pile Fuel Cladding Silo was built more than 70 years ago when the site’s purpose was to produce material for nuclear weapons.

    The Pile Fuel Cladding Silo under construction in 1951

    The silo was built to store cladding from nuclear fuel used by the Windscale Piles – the first reactors to be built at Sellafield – and now contains a large variety of hazardous material.

    The cladding is Intermediate-Level Waste (ILW) and is dry stored.

    Based on the simple design of a grain silo, the concrete structure is 29 metres long 10 metres wide and 18 metres high and is divided into 6 tall compartments.

    As the UK’s civil nuclear power industry grew, the silo also received and stored cladding from used Magnox fuel from power stations around the country.

    By the early 1960s, routine waste tipping ceased, with sporadic tips up to 1972. With the silo now full, the building was placed into care and maintenance.

    In the 1980s, 90s and 00s, the silo underwent several upgrades to ensure the concrete structure could continue to provide safe containment and shielding for the waste.

    The Pile Fuel Cladding Silo was constructed with no means of retrieving the wastes inside, making it a ‘locked vault’ that has stored over 3200 cubic metres of ILW for 70 years.

    It’s also situated in a highly congested part of the Sellafield site and surrounded by a maze of pipelines and other sensitive buildings that make decommissioning the building extremely challenging.

    The solution

    The solution is to carefully retrieve the waste from the Pile Fuel Cladding Silo and place it into safe, secure, modern storage.

    The retrieval of wastes from the silo is a key priority for Sellafield Ltd and the Nuclear Decommissioning Authority (NDA) and involves several steps:

    • gaining access to the waste
    • removing the waste
    • placing the waste into modern containers
    • storing the waste in a modern waste store, pending final disposal in an underground repository

    The approach is to attach large shield doors to the side of the silo, cut holes in the top of each compartment and use telescopic grabs to reach into the silo and lift out the waste.

    The large shield doors attached to the side of the silo

    The retrieved waste can then be loaded into specially designed metal boxes, sealed inside a shielded flask and transported to a brand new, fit-for-purpose store elsewhere on the Sellafield site.

    Next steps

    The retrieved waste is placed into a specially designed 3m3 stainless steel box and loaded into a shielded transport flask.

    The boxes of waste will then be sent to the Box Encapsulation Plant Product Store – Direct Import Facility (BEPPS-DIF), a new above-ground store that has been specially constructed on the Sellafield site.

    BEPPS-DIF will store the waste safely and securely until it’s ready for immobilisation prior to permanent disposal underground in a Geological Disposal Facility.

    Benefits: To reduce risk and hazard and safely store the waste
    Status: Currently being decommissioned
    Collaboration: The decommissioning programme is being delivered by Sellafield Ltd in collaboration with Bechtel Cavendish Nuclear Solutions, a US-UK joint venture.

    Progress so far

    The first step towards retrievals was the construction of an enormous concrete superstructure next the silo to house the retrievals equipment.

    The silo superstructure

    We then installed giant, 12-tonne steel doors on each compartment to provide a safe barrier between the waste and the outside world when the compartments are cut into.

    All 6 silo doors in situ on the side of the silo

    In 2017 we successfully cut holes in the top of the silo’s 6 compartments, allowing access to the waste for the first time in 65 years.

    Working in collaboration with Bechtel Cavendish Nuclear solutions, we’ve designed, manufactured, tested and installed 9 huge modules containing the machinery needed to empty the silo.

    In August 2023 we successfully retrieved the first waste from the Pile Fuel Cladding Silo using a crane to reach into the silo, lower a grabber into the compartment and lift out and repackage the waste.

    The first retrievals represent a significant milestone in the decommissioning story at Sellafield and a step closer to reducing the UK’s nuclear hazard.

    In May 2025, we met our retrievals target for 2024/25 by retrieving enough waste to fill 18 3-metre cubed storage boxes.

    MIL OSI United Kingdom

  • MIL-OSI Russia: Vice Premier of the State Council of the People’s Republic of China stressed the importance of in-depth study of Xi Jinping’s economic thought

    Translation. Region: Russian Federal

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

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

    Xinhua | 06. 05. 2025

    Keywords: PRC, CPC, Premier of the State Council of the People’s Republic of China, Economy, Jinping, Vice, Stressed, the Importance, of Guiding Economic Work, Strengthening the Unified, In-depth Study, of the, Party of the Central Committee, Ding Xuexiang, Efforts, Called, Tuesday

    BEIJING, May 6 (Xinhua) — Chinese Vice Premier Ding Xuexiang on Tuesday called for efforts to further study and implement Xi Jinping Thought on Economics and strengthen the CPC Central Committee’s unified centralized leadership of economic work. -0-

    Source: Xinhua

    Vice Premier of the State Council of the People’s Republic of China stresses the importance of in-depth study of Xi Jinping Thought on Economics Vice Premier of the State Council of the People’s Republic of China stresses the importance of in-depth study of Xi Jinping Thought on Economics

    MIL OSI Russia News

  • MIL-OSI: Duos Technologies Group Sets First Quarter 2025 Earnings Call for Thursday, May 15, 2025 at 4:30 PM ET

    Source: GlobeNewswire (MIL-OSI)

    JACKSONVILLE, Fla., May 06, 2025 (GLOBE NEWSWIRE) — Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT) will hold a conference call on Thursday, May 15, 2025 at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2025. Financial results will be issued via press release prior to the call.

    Duos management will host the conference call, followed by a question-and-answer period.

      Date:   Thursday, May 15, 2025
      Time:   4:30 p.m. Eastern time (1:30 p.m. Pacific time)
      U.S. dial-in:   877-407-3088
      International dial-in:   201-389-0927
      Confirmation:   13753649
           

    Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization.

    If you have any difficulty connecting with the conference call, please contact DUOT@duostech.com.

    The conference call will be broadcast live via telephone and available for online replay via the investor section of the Company’s website here.

    About Duos Technologies Group, Inc.
    Duos Technologies Group, Inc. (Nasdaq: DUOT), based in Jacksonville, Florida, through its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, designs, develops, deploys and operates intelligent technology solutions for Machine Vision and Artificial Intelligence (“AI”) applications including real-time analysis of fast-moving vehicles, Edge Data Centers and power consulting. For more information, visit www.duostech.com , www.duosedge.ai and www.duosenergycorp.com.

    Forward- Looking Statements
    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects — both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as “believe,” “expect,” “anticipate,” “should,” “planned,” “will,” “may,” “intend,” “estimated,” and “potential,” among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. All forward-looking statements attributable to Duos Technologies Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99e27e1c-76bd-4efe-abb0-6ae0bff35e41

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

    The MIL Network

  • MIL-OSI Global: As Warren Buffett prepares to retire, does his investing philosophy have a future?

    Source: The Conversation – Global Perspectives – By Angel Zhong, Professor of Finance, RMIT University

    Warren Buffett, the 94-year-old investing legend and chief executive of Berkshire Hathaway, has announced plans to step down at the end of this year.

    His departure will mark the end of an era for value investing, an investment approach built on buying quality companies at reasonable prices and holding them for the long term.

    Buffett’s approach transformed Berkshire Hathaway from a small textile business in the 1960s into a giant conglomerate now worth more than US$1.1 trillion (A$1.7 trillion).

    He built his fortune backing US industry in energy and insurance and American brands, including big stakes in household names such as Coca-Cola, American Express and Apple.

    At Berkshire’s annual meeting at the weekend, held in an arena with thousands of devoted investors, Buffett named Greg Abel as his successor.

    Abel, 62, is currently chairman and chief executive of Berkshire Hathaway Energy, as well as vice chairman of Berkshire Hathaway’s vast non-insurance operations.

    He’s known for his disciplined, no-nonsense management style. The company’s board has now voted unanimously to approve the move.

    This changing of the guard comes at a pivotal moment. Donald Trump’s return to the US presidency has already delivered significant economic policy shifts.

    Meanwhile, questions about US economic dominance grow louder against China’s continued rise.

    The ‘Oracle of Omaha’

    Few names command as much respect in the world of finance as Warren Buffett. Born in Omaha, Nebraska, in 1930, Buffett displayed an early genius for numbers and investing. He bought his first stock at age 11.

    His investment philosophy – buying undervalued companies with strong fundamentals – would later earn him the nickname the “Oracle of Omaha” for his uncanny ability to predict market trends and identify winning investments years before others did.

    Value investing

    Buffett drew his investment approach from the value investment principles of British-born US economist Benjamin Graham.

    He preferred businesses with lasting advantages and a clear value proposition. Some of his key investments included insurance company GEICO, railroad company BNSF, and more recently Chinese electric vehicle maker BYD.

    He avoided speculative bubbles (such as the dotcom bubble of the late 1990s and, more recently, cryptocurrencies) and preached long-term patience to investors. As he famously wrote in a 1988 letter to shareholders:

    In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

    Buffett’s guidance helped Berkshire navigate many economic booms and recessions. Over his six decades at the helm, the company delivered impressive compounded annual returns of almost 20% – virtually double those of the S&P 500 index.

    Beyond financial success, Buffett championed ethical business practices and pledged to donate more than 99% of his wealth through the Giving Pledge, which he cofounded with Bill Gates and Melinda French Gates.




    Read more:
    How Warren Buffett’s enormous charitable gifts reflect the ‘inner scorecard’ that has guided him up to the billionaire’s planned retirement


    Challenges to Buffett’s strategy in today’s world

    In an op-ed for the New York Times in 2008, Buffett famously shared the maxim that guides his investment decisions:

    Be fearful when others are greedy, and be greedy when others are fearful.

    But his strategy thrived in an era of increasing globalisation, free trade, and US economic supremacy. The world has shifted since Buffett’s heyday.

    There are concerns about the recent underperformance of value investing. Technology companies now dominate older industries.

    This raises questions about whether those who succeed Buffett can spot the next major industry disruptors.

    America first?

    Trump’s return as US president heralds major changes in economic policy. Trade restrictions might hurt some of Berkshire’s international investments. However, these same policies might benefit Buffett’s US-focused investments.

    The idea of US economic superiority also faces new questions. China may overtake the US economy in the 2030s. The US share of global economic output has fallen from about 22% in 1980 to about 15% today.

    Buffett’s “never bet against America” mantra faces new scrutiny.

    Warren Buffett discusses trade deficits and protectionism on May 3.

    The challenges for Buffett’s successor

    Abel inherits a company with about US$348 billion (A$539 billion) in cash. That’s a serious amount of capital to deploy wisely amid global economic uncertainty and Trump’s trade war.

    Abel will likely maintain Berkshire’s core values while updating its approach. His challenges include:

    1. Maintaining the “Buffett premium”: Abel lacks Buffett’s cult-like following among investors, which may gradually erode the additional value the market assigns to Berkshire due to Buffett’s leadership.

      Without Buffett’s reputation, Abel may face increased pressure to effectively deploy Berkshire’s massive cash pile in a still-expensive stock market, where valuations are high and finding bargains is harder than ever.

    2. Technological adaptation: while Berkshire has increased its technology investments over the years (including positions in Apple and Amazon), balancing its legacy holdings (such as Coca-Cola and railroads) with growth sectors (AI, renewables) remains challenging.

    3. Environmental concerns: Berkshire Hathaway’s heavy reliance on coal and gas-fired utilities has drawn growing criticism as investors and regulators demand cleaner energy solutions.

    4. Replicating the “golden touch”: Buffett’s genius wasn’t just in picking stocks. It was also in capital allocation, deal-making, and crisis management (for example, buying into Goldman Sachs during the global financial crisis). Can Abel replicate that?

    After Buffett

    Buffett’s principles – patience, intrinsic value and betting on America – are timeless. But the world has moved on. His successor must navigate geopolitical risks, technological disruption, and the rise of passive investing while preserving Berkshire’s unique culture.

    The post-Buffett era represents more than just a leadership change. It’s a test of whether Buffett’s principles can survive in an increasingly short-term, technology-dominated, and geopolitically complex world.

    Abel’s leadership will reveal the enduring power – or limitations – of Buffett’s philosophy.

    Angel Zhong 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. As Warren Buffett prepares to retire, does his investing philosophy have a future? – https://theconversation.com/as-warren-buffett-prepares-to-retire-does-his-investing-philosophy-have-a-future-255867

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: Indian Institute of Foreign Trade receives approval to establish off-campus centre at GIFT City, Gujarat

    Source: Government of India

    Indian Institute of Foreign Trade receives approval to establish off-campus centre at GIFT City, Gujarat

    Move aligns with NEP 2020; will offer flagship MBA (International Business) and promote trade research

    IIFT GIFT City centre to strengthen India’s trade education ecosystem and support export-led growth

    Posted On: 06 MAY 2025 10:37AM by PIB Delhi

    The Ministry of Education, Government of India, has approved the establishment of an off-campus centre of the Indian Institute of Foreign Trade (IIFT), New Delhi, at GIFT City, Gandhinagar, Gujarat. The centre will be set up in accordance with the UGC (Institutions Deemed to be Universities) Regulations, 2023.

    The approval under Section 3 of the UGC Act, 1956, comes after IIFT’s successful compliance with the conditions laid out in the Letter of Intent (LoI) issued in January 2025. These included submission of a development roadmap to establish a multidisciplinary institution with over 1,000 students, availability of qualified faculty, detailed academic programmes, plans for a permanent campus, and creation of a state-of-the-art library.

    Union Minister of Commerce & Industry, Shri Piyush Goyal, congratulated IIFT on receiving the approval, stating: “Heartiest congratulations to @IIFT_Official on getting approval to open its new off-campus centre in @GIFTCity_, India’s global financial hub. This paves the way for training talent in the institute’s flagship programme, MBA (International Business), besides short-term training programmes and research in the area of International Trade.”

    The upcoming GIFT City campus will be located on the 16th and 17th floors of GIFT Tower 2. It will offer IIFT’s flagship MBA (International Business) programme, along with specialised short-term training courses and research in international trade and related fields.

    The initiative aligns with the goals of the National Education Policy (NEP) 2020, which aims to promote multidisciplinary learning and expand access to high-quality education.

    Established in 1963 under the Ministry of Commerce & Industry, IIFT is a premier institution dedicated to capacity building in international trade. It was declared a Deemed to be University in 2002, holds an A+ grade from NAAC, and is accredited by AACSB, making it part of a select group of globally recognised business schools.

    The GIFT City campus is expected to significantly contribute to India’s trade education ecosystem and support the nation’s aspiration of becoming a global export powerhouse.

    ***

    Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2127199) Visitor Counter : 14

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister Jyotiraditya Scindia Inaugurates Bharat Telecom 2025; Highlights India’s Export Potential

    Source: Government of India

    Union Minister Jyotiraditya Scindia Inaugurates Bharat Telecom 2025; Highlights India’s Export Potential

    India Showcases Global Telecom Ambitions at Bharat Telecom 2025

    Minister Scindia: “We’re not just connecting villages; we’re connecting futures. Every tower we raise, every byte we transmit, brings 1.4 billion people closer to opportunity”

     “Prime Minister Narendra Modi’s bold vision and unwavering resolve have transformed India from a digital follower into a global digital leader — turning aspirations into infrastructure, and policy into progress.” Minister Scindia

    Dr. Pemmasani Chandra Sekhar:  “Today, India stands ready not merely as a market or consumer but as a creator, partner and trusted provider of world-class telecom solutions. The narrative has changed from a historical made-for-India to made-by-India.”

    More than 130 foreign delegates from over 35 countries participate

    Over 80 leading Indian Telecom and ICT companies showcased innovative products and solutions across multiple domains

    Posted On: 06 MAY 2025 1:41PM by PIB Delhi

    Bharat Telecom is not just a conference — it is a declaration of India’s intent to shape the future of global connectivity through innovation, collaboration, and inclusive growth.” said Shri Jyotiraditya M. Scindia, Minister of Communications and Development of North Eastern Region, while inaugurating Bharat Telecom 2025 in New Delhi today. He said, “When ideas, innovation, and intent come together in harmony, they create not a cacophony, but a symphony — and Bharat Telecom is that symphony of global collaboration and opportunity.

    Organized by the Telecom Equipment and Services Export Promotion Council (TEPC), in collaboration with Department of Telecommunications (DoT), Bharat Telecom 2025 plays a significant role in India’s vision to become a global hub for telecom manufacturing, services, and exports. The event was inaugurated in the presence of Dr.Pemmasani Chandra Sekhar, Minister of State for Communications, alongside industry leaders, foreign delegates, and innovators from across the telecom value chain. The two-day event Bharat Telecom 2025, besides providing an interactive platform for stakeholders, also showcases an Exclusive International Business Expo.

    In his inaugural remarks, Minister Scindia further highlighted India’s growing role as a telecom exporter and a hub of innovation, backed by progressive reforms and production-linked incentives. “We’re not just connecting villages; we’re connecting futures. Every tower we raise, every byte we transmit, brings 1.4 billion people closer to opportunity”, Minister Scindia asserted. He highlighted, “It is Prime Minister Narendra Modi’s bold vision and unwavering resolve that have transformed India from a digital follower into a global digital leader — turning aspirations into infrastructure, and policy into progress.”

    Shri Jyotiraditya M. Scindia highlighted “In just 22 months, we connected 99% of our villages with 5G and brought 82% of our population onto the network, deploying 470,000 towers—this is not evolution; it is a telecom revolution.” He pointed out, “This digital highway we have built across India is not merely about communication—it is the infrastructure of infrastructure, empowering 1.4 billion citizens with access to healthcare, education, governance, and economic opportunity.”

    The minister emphasized India’s extraordinary rise as a global digital powerhouse, attributing it to the visionary leadership of Prime Minister Narendra Modi. He pointed out that India has not only caught up with the world in areas like 4G and 5G, but is now leading the charge, with sweeping reforms and technological innovation shaping the country’s trajectory. Shri Scindia underlined the role of India’s telecom sector as a transformative force and described the nation’s evolution from expensive, limited mobile access in the 1990s to now being the world’s second-largest telecom market and the cheapest data provider.

    Speaking at the session, Dr. Pemmasani Chandra Sekhar, Minister of State for Communications, said, “There are moments in a nation’s journey when it not only participates in global conversations but defines their course. Today, India stands ready not merely as a market or consumer but as a creator, partner and trusted provider of world-class telecom solutions. The narrative has changed from a historical made-for-India to made-by-India.”

    Dr. Pemmasani Chandra Sekhar emphasized that India is undergoing a pivotal transformation in the global telecom arena, evolving from a consumer to a creator of technology. He highlighted that this progress was driven by the Digital India initiative launched a decade ago and supported by forward-thinking government policies under Prime Minister Narendra Modi’s leadership. Citing initiatives like the production-linked incentive scheme, progressive spectrum management, and the Telecom Technology Development Fund, he pointed to India’s dramatic rise in domestic manufacturing, exports, and innovation. He further mentioned that India now plays a significant role in global supply chains, including producing 15% of the world’s iPhones. He concluded by outlining the country’s future focus on 6G leadership, satellite broadband expansion, and quantum communication networks to strengthen digital sovereignty.

    Mr. Arnob Roy, Chairman, TEPC, in his welcome address said, “Bharat Telecom showcases the transformative power of India’s indigenous telecom ecosystem, highlighting our unparalleled growth and innovation in the global telecom industry.” He acknowledged the Indian government’s strategic policies that have fostered innovation and manufacturing in the Telecom sector, and invited delegates to explore the innovations at the Bharat Telecom exhibition 2025.

    Bharat Telecom 2025 has been conceptualised to reinforce India’s position as a reliable and trusted telecom products manufacturing and export destination, by highlighting the country’s growing capabilities in telecom equipment, ICT services and next-generation digital technologies. Over 80 leading Indian Telecom and ICT companies showcased innovative products and solutions across multiple domains.

    The event saw enthusiastic international participation, with more than 130 foreign delegates from over 35 countries, representing government bodies, private enterprises etc. It also featured thematic exhibitions, conference sessions, high-impact B2B meetings, strategic networking sessions and knowledge-sharing forums focusing on cutting-edge communication technologies such as 5G, Optical Fibre, Broadband Infrastructure, Satellite Communication, IoT, AI-driven Networks and more.

    About TEPC:

    Established in 2009 under the Foreign Trade Policy of the Government of India, the Telecom Equipment and Services Export Promotion Council (TEPC) plays a vital role in promoting and facilitating the export of telecom equipment and services. Its mandate spans the entire telecom ecosystem, including ICT hardware and software, infrastructure products, system integration, consultancy, and service provision. TEPC serves as a key platform for diverse stakeholders such as equipment manufacturers, system integrators, service providers, and other entities operating within the telecom sector.

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    ******

    Samrat

    (Release ID: 2127228) Visitor Counter : 89

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area to visit Laos to promote GBA’s development opportunities and Hong Kong’s unique advantages

    Source: Hong Kong Government special administrative region

    Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area to visit Laos to promote GBA’s development opportunities and Hong Kong’s unique advantages 
         Ms Chan will attend the “Business and Investment Opportunities in Hong Kong – Gateway to Greater Bay Area” seminar hosted by the Hong Kong Economic and Trade Office in Singapore. She will also participate in a discussion titled “Hong Kong – A Super-connector and Super Value-adder between the Greater Bay Area and Laos” and exchange views with participants to promote how Hong Kong can help Lao enterprises and talent seize the tremendous opportunities brought about by GBA development.
     
         During her stay in Vientiane, Ms Chan will call on the officials of the Chinese Embassy in the Lao People’s Democratic Republic and the Ministry of Industry and Commerce of Laos. She will also meet with representatives of the Lao National Chamber of Commerce and Industry and the Lao Chinese Chamber of Commerce to learn about the latest developments in Laos and to promote the development opportunities of the GBA.
     
         Ms Chan will conclude her visit and return to Hong Kong on May 8.
    Issued at HKT 15:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: REPORT on the deliberations of the Committee on Petitions in 2023 – A10-0063/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on the deliberations of the Committee on Petitions in 2023

    (2025/2027(INI))

    The European Parliament,

     having regard to its previous resolutions on the outcome of the Committee on Petitions’ deliberations,

     having regard to Articles 10 and 11 of the Treaty on European Union (TEU),

     having regard to Articles 20, 24 and 227 of the Treaty on the Functioning of the European Union (TFEU) on the right of EU citizens and residents to bring their concerns to the attention of Parliament,

     having regard to Article 228 TFEU on the role and functions of the European Ombudsman,

     having regard to Article 44 of the Charter of Fundamental Rights of the European Union concerning the right to petition the European Parliament,

     having regard to the provisions of the TFEU relating to the infringement procedure and, in particular, to Articles 258 and 260 thereof,

     having regard to Rules 55 and 233(7) of its Rules of Procedure,

     having regard to the report of the Committee on Petitions (A10-0063/2025),

    A. whereas the purpose of the annual report on the outcome of the Committee on Petitions’ deliberations is to present an analysis of the petitions received in 2023 and of relations with other institutions, as well as to present an accurate picture of the objectives achieved in 2023;

    B. whereas in 2023, Parliament received 1 452 petitions, which represents an increase of 16.2 % compared to the 1 217 petitions submitted in 2022 and of 4.0 % compared to the 1 392 petitions registered in 2021; whereas the total amount of petitions received continues to be significantly lower than the peak reached in 2013 and 2014, when Parliament received 2 891 and 2 715 petitions, respectively;

    C. whereas in 2023, the number of users supporting one or more petitions on Parliament’s Petitions Web Portal was 26 331, which represents a considerable increase compared to the 22 441 users recorded in 2022 (both numbers are considerably lower than the 209 272 supporters recorded in 2021); whereas the number of clicks in support of petitions also increased slightly in 2023, reaching a total of 29 287 (compared with 27 927 in 2022 and 217 876 in 2021);

    D. whereas however, the overall number of petitions remains modest in relation to the total population of the EU, revealing that efforts still need to be stepped up to increase citizens’ awareness of their right to petition and the possible usefulness of petitions as a means of drawing the attention of the institutions and the Member States to matters that affect and concern citizens directly; whereas in exercising the right to petition, citizens expect the EU institutions to provide added value in finding a solution to their problems;

    E. whereas the criteria for the admissibility of petitions are laid down in Article 227 TFEU and Rule 232(1) of Parliament’s Rules of Procedure, which require that petitions must be submitted by an EU citizen or by a natural or legal person who is resident or has a registered office in a Member State and is directly affected by matters falling within the EU’s fields of activity;

    F. whereas of the 1 452 petitions submitted in 2023, 429 were declared inadmissible and 13 were withdrawn; whereas the high percentage (29.55 %) of inadmissible petitions in 2023 confirms that there is still a widespread lack of clarity about the scope of the EU’s areas of responsibility; whereas in order to reduce the number of inadmissible petitions, efforts still need to be made to clarify further the scope of the EU’s fields of activity;

    G. whereas the right to petition Parliament is a fundamental right of EU citizens, offering both citizens and residents an open, democratic and transparent mechanism to address their elected representatives directly; whereas this essential tool empowers citizens to actively and effectively participate in the life of the Union; whereas through petitions, EU citizens can complain about failures to implement EU law and help detect breaches of EU law;

    H. whereas Parliament is the only EU institution directly elected by EU citizens; whereas the right to petition the European Parliament is one of the fundamental rights of EU citizens and residents and it allows them to address their elected representatives directly; whereas Parliament has long been at the forefront of the development of the petitions process internationally and has the most open, democratic and transparent petitions process in Europe, allowing petitioners to participate actively and effectively in its activities, whereas in exercising the right to petitions, citizens expect the EU institutions provide added value, cooperating with the Commission and Member State authorities, in solving their problems;

    I. whereas the information submitted by petitioners in their petitions and during committee meetings, along with the Commission’s assessments and the replies from the Member States and other bodies, also provide valuable input for the work of other parliamentary committees, given that admissible petitions are forwarded to the relevant committee for an opinion or for information; whereas, therefore, petitions can also play a role in the legislative process, providing concrete feedback on the impact of EU policies and enabling policies to address emerging needs;

    J. whereas the activities of the Committee on Petitions are based on the input provided by petitioners, enabling Parliament to enhance its responsiveness to complaints and concerns relating to respect for fundamental EU rights and compliance with EU legislation in the Member States; whereas petitions are therefore a useful source of information on instances of misapplication or breaches of EU law, enabling an assessment of the application of EU law and its impact on the rights of EU citizens and residents; whereas in 2023 fundamental rights were one of the three most important concerns of all petitioners; whereas, in the context of the structured dialogue with the Commission, the Committee on Petitions called on the Commission to fight discrimination in the European Union, including through initiatives to guarantee equal rights and to strengthen measures against all forms of discrimination, including those based on sex, racial or ethnic origin, disability, age, religion or belief and sexual orientation;

    K. whereas according to Article 17 TEU the Commission should ensure the correct application of the Treaties and of measures adopted pursuant to them; whereas the Commission’s strategic approach to addressing issues raised in petitions must be fully consistent with the Treaties in order to ensure the most effective follow-up of petitions, aiming at guaranteeing full and timely protection of citizens’ rights arising from EU law;

    L. whereas each petition must be considered and examined carefully, efficiently, impartially, fairly and transparently, in line with the standards set in Article 41 of the Charter of Fundamental Rights of the European Union on the Right to good administration; whereas all petitioners have the right to receive a reply informing them about the decision on admissibility and follow-up actions taken by the committee within a reasonable period of time, in their own language or in the language used in the petition; whereas timely and effective responses by the Commission and Member States to the issues raised in the petitions, along with solutions for redress, where appropriate, contribute to strengthening the trust citizens place in the Union and its policies;

    M. whereas the Committee on Petitions attaches the utmost importance to the examination and public discussion of petitions at its meetings; whereas petitioners have the right to present their petitions and frequently take the floor in the discussion, thereby actively contributing to the work of the committee; whereas in 2023, the Committee on Petitions held 10 committee meetings, at which 191 petitions were discussed with 114 petitioners present and actively participating by taking the floor;

    N. whereas the main subjects of concern raised in petitions submitted in 2023 related to the environment, fundamental rights, personal matters and justice;

    O.  whereas when adopting its meeting agenda, the Committee on Petitions pays attention to petitions and topics with a high degree of relevance for discussion at EU level and to the need to maintain a balanced geographical coverage of topics according to the petitions received;

    P. whereas 82.4 % of the petitions received in 2023 were submitted via Parliament’s Petitions Web Portal, which is a slight increase compared to 2022 (79.05 %), thus reconfirming it as by far the most used channel for citizens to submit petitions to Parliament;

    Q. whereas in February 2023, the Petitions Web Portal was revamped and relaunched to align it with current expectations and make it easier for residents of the Member States to exercise their right to submit petitions to Parliament; whereas the updated Petitions Portal 2.0 integrated seamlessly with Parliament’s web publishing tool, enabling faster and simpler content updates and new features (including seven ‘Quick Start Guides’ that provide clear, step-by-step instructions for submitting, tracking and supporting petitions); whereas a new search engine powered by elastic search technology enhanced the user experience by delivering more accurate results efficiently leading to the new portal’s prioritising a truly citizen-centred approach; whereas during 2023 all petitions were prepared and published in a timely manner, within a few days of their adoption, and all internal and external requests for support on the use and content of the Petitions Portal were replied to successfully, in a timely manner and in all languages;

    R. Whereas in 2023, the Committee on Petitions (PETI) held four fact-finding visits, during which Members travelled to Romania to examine the management and the protection of the brown bear population and illegal logging, to Donegal (Ireland) to investigate the use of defective mica blocks in construction in Ireland and to Catalonia (Spain) to assess in situ the language immersion model in Catalonia; whereas PETI members were also part of a joint delegation from the Committee on Employment and Social Affairs, the Committee on Civil Liberties, Justice and Home Affairs and PETI that travelled to New York to attend the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP);

    S. whereas under Parliament’s Rules of Procedure, the Committee on Petitions is also responsible for relations with the European Ombudsman, who investigates complaints about maladministration within the institutions and bodies of the EU; whereas the previous European Ombudsman, Emily O’Reilly, presented her annual report for 2022 to the Committee on Petitions at its meeting of 27 June 2023;

    T. whereas the Committee on Petitions is a member of the European Network of Ombudsmen, which also includes the European Ombudsman, national and regional ombudsmen and similar bodies in the Member States, the candidate countries and other European Economic Area countries, and which aims to promote the exchange of information about EU law and policy, and to share best practice;

    1. Emphasises Committee on Petition’s fundamental role in protecting and promoting the rights of EU citizens and residents by ensuring that petitioners’ concerns and complaints are examined in a timely, effective and appropriate manner and that petitioners are informed about the actions taken and progress made on their petitions; recalls that all petitions are treated through an open, democratic and transparent petition process;

    2. Welcomes the successful contribution the Committee on Petitions made to dealing with the case of the repatriation of children, together with their mothers, who were detained for years in dire conditions in Syrian refugee camps and suffering from serious illness, malnutrition, severe psychological pressure and whose health conditions were worsening day by day; appreciates that the main legal arguments supported unanimously in PETI were substantially backed by the Danish Supreme Court in its order to offer repatriation and support by the Danish foreign ministry to both the children concerned and their mothers;

    3. Reiterates the importance of a continuous public debate on the EU’s fields of activity in order to ensure that citizens are properly informed about the scope of the Union’s competences and the different levels of decision-making; calls for an EU-wide enhanced structured information and communication campaign in all EU official languages in collaboration with national and regional ombudsmen, NGOs, and educational institutions to increase awareness of petition rights among citizens from all Member States, particularly addressing rural and disadvantaged communities and marginalised groups, as well as, remote islands and regions; proposes an expansion of outreach efforts through social media and local community events, emphasises the need for broader awareness-raising campaigns, through the active involvement of communications services, to help increase citizens’ knowledge about their right to petition, as well as the scope of the EU’s responsibilities and the competences of the Committee on Petitions, with a view to reducing the number of inadmissible petitions and enhancing citizen engagement in the decision-making process; recommends improving the digital accessibility of the Petitions Portal, including through adaptations for people with disabilities and higher quality translations into all official EU languages; recommends exploring the potential of the existing IT tools in order to increase citizens’ support on the portal, including through redirecting options to relevant complaint mechanisms;

    4. Recalls the European dimension of the Committee on Petitions, which can be addressed by citizens from all 27 Member States on issues that fall within the scope of the EU Treaties and EU law; believes that the Committee has a special responsibility to uphold this European dimension and to demonstrate the added value of European unity and integration to citizens;

    5. Points out that petitions constitute a unique opportunity for Parliament and the other EU institutions to directly connect with EU citizens and maintain a regular dialogue with them, particularly in cases where they are affected by the misapplication or breach of EU law; stresses the need for enhanced cooperation between the EU institutions and national, regional and local authorities on inquiries regarding the implementation of, and compliance with, EU law; believes that such cooperation is crucial to address and resolve citizens’ concerns over the application of EU law and that it contributes to strengthening the democratic legitimacy and accountability of the Union; calls, therefore, for the participation of Member States’ representatives in committee meetings and for timely and detailed responses to requests for clarification or information sent by the Committee on Petitions to national authorities;

    6. Recalls that petitions contribute considerably to the exercise of the Commission’s role as the guardian of the Treaties by providing citizens with an additional tool to report alleged breaches of EU law; stresses that constructive cooperation between the Committee on Petitions and the Commission through timely and detailed answers from the Commission, which are based on thorough examinations of the issues raised in petitions, is essential to ensure the successful treatment of petitions;

    7. Reiterates its call on the Commission to provide legal clarifications on the key criteria underpinning its strategic approach to enforcing EU law and to regularly update the Committee on Petitions on developments in infringement proceedings and to ensure that the Committee on Petitions gets access to the all relevant documents on EU Pilot and infringement procedures and legislative initiatives that were launched based on petitions received; is of the opinion that increased transparency and regular feedback on the handling of ongoing infringement procedures by the Commission would be beneficial for the Committee’s follow-up of open petitions; welcomes the recent Commission initiative to include petitions in the search system of the infringement register of the Commission; stresses that it is important for the Commission to conduct timely investigations into petitions, highlighting violations of rights affecting a large number of citizens and residents within the EU and to consult, where appropriate, the relevant national ombudsman; expresses its concerns about the way the Commission is handling some infringement procedures launched against Member States, including those related to issues raised in many petitions; encourages the Commission to put in place all necessary measures to improve transparency and effectiveness of its management of infringement procedures, which can be perceived as opaque by citizens;

    8. Calls on the Commission to assess whether the national authorities are taking the necessary measures to respond to citizens’ concerns, as expressed in their petitions, where cases of failure to comply with EU law occur, and to launch infringement procedures where necessary; emphasises that timely and proactive action by the Commission in cases of breaches of EU law is crucial to prevent such breaches, which could undermine citizens’ trust in European institutions, becoming systemic in nature;

    9. Emphasises the need for enhanced and more active cooperation between Member States and the Committee on petitions in order to unblock those petitions requiring prompt responses and reactions from the national authorities; recalls that the delayed responses of the Member States could have an impact on the timely resolution of issues raised by citizens and negative consequences for the solution of breaches of Union law; notes that the Member States should guarantee responses to petitions within the three-month deadline requested; stresses that improved coordination and dialogue would facilitate a more efficient handling of citizens’ concerns, prevent unnecessary delays and strengthen the effectiveness of the petition process;

    10. Strongly condemns the harassment and intimidation to which the official members of the Delegation of the Committee on Petitions were subjected during their fact-finding visit to Barcelona from 18 to 20 December 2023, with the aim of assessing in situ the language immersion model in Catalonia, its effects on families moving to and residing in the Autonomous Community, as well as on multilingualism and non-discrimination and the principle of the rule of law;

    11. Condemns the attempted ‘escraches’ (public shaming through doorstep demonstrations), violence and intimidation by separatist entities and groups in Catalonia that were intended to prevent the smooth running of the mission and with which they sought to coerce MEPs so that the outcome of the mission would favour their interests;

    12. Regrets that the competent education authorities in the region have not implemented the recommendations issued by the Committee on Petitions in its report of 19 March 2024 following the mission, aimed at protecting the linguistic rights of students and their families;

    13. Recalls that the e-Petition database is an essential internal tool that allows the members of the Committee on Petitions to access all necessary information in order to follow up on the state of play of each petition and to be able to make informed decisions on the treatment of the petitions; notes that the e-Petition database also plays an important role in communication with petitioners;

    14. Recalls the Commission’s commitment to create an interinstitutional IT tool, together with Parliament, with which to share information and documents on all follow-up actions taken on petitions, such as infringement procedures, legislative proposals or replies by national authorities, thus enhancing the transparency and efficiency of the treatment of petitions, which, in a wider context, would contribute to increasing citizens’ trust in the EU institutions and the European project;

    15. Recalls that cooperation with other committees in Parliament is essential for the comprehensive treatment of petitions; notes that in 2023, 34 requests for opinion (corresponding to 31 petitions) and 223 requests for information were sent to other committees; notes that of the 34 opinions requested, only 25 answers were received by the end of 2023 (in 14 cases an opinion was provided, while in 10 cases the committee decided not to draft an opinion and on four occasions no official decision has been communicated); recalls that petitioners are informed of decisions to request opinions from other committees for the treatment of their petitions; underlines that parliamentary committees should step up their efforts to actively contribute to the examination of petitions by providing their expertise so as to enable Parliament to respond more swiftly and comprehensively to citizens’ concerns;

    16. Believes that the petitions network is a useful tool for facilitating the follow-up of petitions in parliamentary and legislative work; trusts that regular meetings of the petitions network are crucial in order to ensure more visibility for the Committee on Petition’s activities and a better understanding of its work and mission, as well as to strengthen cooperation with the other parliamentary committees;

    17. Underlines that the Committee on Petitions expressed its position on important issues raised in petitions by adopting its report on the outcome of the Committee on Petitions’ deliberations during 2022[1];

    18. Highlights a slight decrease in the number of petitions submitted on external relations issues compared to 2022; notes that this could be explained by the new geopolitical context in 2023 and in particular a decrease in the number of petitions on the war in Ukraine and a significant increase in petitions dealing with the new conflicts in the Middle East; notes that the Committee on Petitions took account of citizens’ concerns about sanctions, security, conflict resolution, visa policy, progress of EU candidate countries, among other issues, putting on its agenda a number of petitions dealing in particular with questions related to the situation of refugees, in particular of children and on the situation of Venezuelan refugees in the EU; acknowledges the efforts of the committees already actively addressing these issues and emphasises that the Committee on Foreign Affairs and the Committee on Civil Liberties, Justice, and Home Affairs should take note of these petitions in their deliberations;

    19. Takes note that health, which was one of the main areas of concern for petitioners in 2022, appeared to continue to play an important role in 2023; notes, in particular, that the Committee on Petitions examined and discussed petitions on the ban on chemicals and heavy metals in children’s toys, on support for healthy and environmentally friendly food systems and lifestyles and on the implementation of EU regulations on added sugars in foods intended for infants and young children;

    20. Draws attention to the significant number of petitions submitted and discussed in relation to citizens’ concerns over the reintroduction of border checks between some Member States raising the problematic aspect of limitation of the free movement of persons within the EU and other aspects such as the strengths and the weaknesses of the extension of the Schengen area, as well as the costs of not belonging to the Schengen area; appreciates the significant role played by the Committee on Petitions, in particular the host of activities carried out, the adoption in committee of a short motion for a resolution on the accession to the Schengen area on 27 June 2023 and the related Parliament resolution, to strongly support the enlargement of the Schengen area to include Romania and Bulgaria the organisation of the public hearing on Schengen Borders on 18 July 2023 in association with the Committee on Civil Liberties, Justice and Home Affairs; welcomes the unanimous decision by the Council for the full membership of both countries of the Schengen area as of 1 January 2025 allowing the full exercise of the fundamental freedoms of the EU Single Market; 

    21. Takes note of the sudden increase in petitions of Spanish origin in the second half of 2023 concerning the risks to the rule of law in Spain as a result of the Spanish Government’s intention to adopt an Amnesty Law contrary to constitutional and European law;

    22. Underlines the work of the Committee on Petitions in connection with petitions relating to common rules on a single standard for hand luggage dimensions, highlighting citizens’ concerns about the inconvenience and discomfort caused by inconsistent rules on airline carry-on luggage and the resulting hidden costs; emphasises its call for compliance with a relevant European Court of Justice ruling in the context of the revision of EU air services legislation; points, in this regard, to the short motion for a resolution on standardised dimensions for carry-on luggage adopted by the Committee on Petitions on 20 September 2023 followed by the adoption of a resolution by single vote of the European Parliament on 4 October 2023; welcomes the fact that in November 2023 the Commission put forward a review of the passenger rights framework and a series of proposals designed to improve the experience of passengers and travellers, including the requirement of a limited number of common sizes and weights to reduce the confusion; notes with regret that passengers with disabilities are still facing too many barriers while travelling, especially in case of multimodal journeys; regrets that the public transport systems of many Member States do not comply with the requirements of United Nations Convention on the Rights for Persons with Disabilities (UNCRPD);

    23. Notes that environmental issues remained an area of serious concern for petitioners in 2023 with more than 21 % of petitions dedicated to environmental issues; regrets that some of these petitions allege incorrect implementation of EU legislation by the Member States, with some Member States already facing infringement procedures for the breach of EU environmental laws; notes that numerous petitions describe complaints about air quality, noise pollution, waste management/treatment, the deterioration of natural ecosystems and violation of the Habitats Directive in different Member States; highlights the public hearing on the state of implementation of the Habitats Directive organised on 24 May 2023; notes the work the Committee on Petitions continued to carry out in 2023 on the impact of climate change in different fields, not only in the environmental area, but also in the use of land, putting a number of petitions received on these topics on the agenda; points to the workshop on the impact of climate change on social security and the most vulnerable groups organised on 22 March 2023 and also to the presentation of the study on compensation for victims of climate change disasters on 18 July 2023;

    24. Draws attention to the workshop organised by the Committee on Petitions on 25 January 2023 on transparency of pricing and reimbursement of medicinal products, which discussed transparency from the perspectives of patients and consumers, producers of medicinal products, and academic research; notes that the discussions focused on research and development costs of companies and information available on the prices paid for medicines, underlining the importance of transparency on these issues;

    25. Stresses the importance of delivering on EU citizens’ expectations regarding the protection of the environment and urges the Commission, together with the Member States, to ensure the correct implementation of EU legislation in the environmental field, in particular in the field of illegal logging; points to the petitions on environmental issues, which reflect a growing public concern about the implications of climate change, requiring consistent enforcement of the existing EU environmental legislation by both the Commission and the Member States;

    26. Acknowledges the positive effects of the fact-finding visit to Romania from 15 to 18 May 2023 on the management and protection of the brown bear population; notes with regret, however, that there are still too many fatal accidents caused by brown bears in connection with humans and livestock, making further monitoring and cooperation with the national authorities necessary;

    27. Following the fact-finding visit to Romania, stresses the need for a balance between wildlife protection and the citizens’ safety; underlines that each Member State should be allowed to take measures, including population control of the species, in order to prevent threats to the lives and property of its citizens;

    28. Stresses the commitment of the Committee on Petitions to protect the rights of persons with disabilities; recalls the annual workshop of held by the Committee on Petitions on 29 November 2023 on the rights of persons with disabilities; recalls that its first part focused on how persons with disabilities dealt with the recent crises (energy costs, war, high inflation, etc.) and how EU measures helped to overcome these obstacles while the second part addressed the issue of how the European institutions have built inclusive communication with citizens with disabilities; also highlights, in this context, the adoption by the Committee of an opinion in the form of a letter on establishing the European Disability Card and the European Parking Card for persons with disabilities on 29 November 2023; reiterates that the Commission should address the cases where the national authorities refuse to recognise the rights for social security benefits for person with disabilities, thus leaving them without the necessary means to cover their basic needs; underlines as well in this context the imperative need for a full and consistent transposition of the European Accessibility Act and calls on the Member States to avoid further delays that hinder the rights of persons with disabilities; recalls that the Accessibility Act aims at improving the life of at least 87 million persons with disabilities, facilitating their access to, inter alia, public transport, banking services, computers, TVs, e-books and online shops;

    29. Stresses the important contribution made by the Committee on Petitions to the protection of the rights of persons with disabilities, as revealed by its treatment of a number of petitions on this sensitive topic; acknowledges, in this context, the efforts of Parliament’s services and notes that not just the best technical but the most accessible solution for deaf citizens must be found in order to communicate with them in their own mother tongue, in national sign languages; requests the modification of the Rules of Procedures in close cooperation with the Committee on Constitutional Affairs (AFCO) committee in order to eliminate the written communication with deaf citizens; also highlights, in this context, the adoption by the Committee of an opinion in the form of a letter on establishing the European Disability Card and the European Parking Card for persons with disabilities on 29 November 2023;

    30. Underlines, furthermore, the specific protection role played by the Committee on Petitions within the EU in the framework of the UN Convention on the Rights of Persons with Disabilities through its capacity to hear petitions and highlights the committee’s important ongoing work on petitions concerning disability-related issues; while noting a slight decrease in the number of petitions on disability in 2023 compared to 2022, stresses that the number nearly doubled compared to 2021; further points out that discrimination and access to public transport and employment, continue to be major challenges faced by persons with disabilities and emphasises the Committee’s special attention to the request for the European Disability Statute to recognise the rights of people with autism; welcomes the adoption of a short motion for a resolution on harmonising the rights of autistic people, emphasising the need to improve access to diagnosis, healthcare, education, employment, accessibility and provision of reasonable accommodation, legal capacity and lifelong community support including as regards culture and sport; draws attention, furthermore, to the particular role of the Committee on Petitions in safeguarding the rights of children and their parents, acknowledging numerous petitions received on children’s rights, which require special attention and action; recalls, in this context the provisions of the EU Charter of Fundamental Rights, in particular the Article 24 thereof on the rights of the child, to allow every child to maintain a personal relationship and direct contact with both of his/her parents, unless that is contrary to the child’s interests; reiterates as well the risk that families with autistic children are being targeted by offers of unproven, potentially harmful and illegal therapies and interventions which may amount to serious physical abuse of children;

    31. Recalls the fact that relations with the European Ombudsman represent one of the responsibilities conferred on the Committee on Petitions by Parliament’s Rules of Procedure; welcomes Parliament’s constructive cooperation with the European Ombudsman, with whom the Committee on Petitions shares the objectives of ensuring the transparency, professionalism and integrity of the EU institutions vis-à-vis European citizens, as well as its involvement in the European Network of Ombudsmen;

    32. Underlines the key work performed by the Committee on Petitions on the protection of workers’ rights; underlines that several petitions received in this area were followed up by further actions such as the debate on the use of fixed-term contracts, as well as that on the European citizens’ initiative-turned petition ‘Good Clothes, Fair Pay’ focusing on the harmful situation of workers in the global garment and footwear industry, or the Parliamentary Question for Oral Answer on the Working conditions of teachers in the European Union, also having as its basis a petition received on this subject; reiterates the importance of ensuring fair working conditions and greater protection of workers in the EU, calling on the Member States and the Commission to effectively address concerns raised in petitions related to labour rights and trade unions; 

    33. Recalls the European Parliament study on Homelessness in the EU which was commissioned by the Committee on Petitions and presented at its meeting in November 2023; notes that this study made an important contribution on this pressing social and economic challenge, which represents one of the most severe forms of societal exclusion, highlighting the need for a public policy change towards preventing homelessness in the first place, inter alia by providing secure and affordable housing;

    34. Acknowledges the European Ombudsman’s regular contributions to the work of the Committee on Petitions throughout the year; firmly believes that the Union’s institutions, bodies and agencies must ensure consistent and effective follow-up to the recommendations of the Ombudsman;

    35. Stresses that European citizens’ initiatives (ECIs) represent an important instrument for active citizenship and public participation; welcomes the discussion in some meetings of unsuccessful ECIs, which were sometimes subsequently reformulated as petitions, giving citizens the opportunity to present their ideas and hold a constructive debate, while contributing to their participation in the EU’s democratic processes; takes note of the significant number of new ECIs registered by the Commission in 2023, which shows that citizens are seizing the opportunity to use participatory instruments to have a say in policy and lawmaking processes; calls on the Commission to better engage with citizens and give adequate follow-up to successful ECIs; welcomes the important effort put in place to organise, in association with other committees, four public hearings on successful ECIs, which allowed the organisers to present the initiative’s objectives and engage with Members of the European Parliament and representatives of the European Commission; underlines that the Commission’s commitment to responding to valid ECIs is essential to maintaining citizens’ trust in the ECI as the most significant instrument of participatory democracy;

    36. Urges the Commission to give due consideration to the parliamentary resolutions adopted on European Citizens’ Initiatives (ECIs) and to enhance its engagement with citizens, particularly by ensuring appropriate and effective follow-up to successful ECIs, thereby reinforcing the democratic process and ensuring that citizens’ voices are adequately reflected in EU policymaking;

    37. Underlines that the Petitions Web Portal is an essential tool for ensuring a smooth, efficient and transparent petitions process; welcomes, in this regard, the improvements to data protection and security features that have made the portal more user-friendly and secure for citizens; stresses that efforts to make the portal more accessible must be continued, including making it more accessible for sign-language users and persons with disabilities; notes that the Petitions Web Portal has been one of the European Parliament’s most visited websites, thus serving as a first point of contact with Parliament for many EU citizens;

    38. Recalls the European dimension of the Committee on Petitions, which can be addressed by citizens from all 27 Member States on issues that fall within the scope of the Union’s activities; believes that the Committee has a special responsibility to uphold this European dimension and to demonstrate the added value of European unity and integration to citizens and continue addressing issues related to violations of EU law, as well as loopholes and shortcomings in the provisions of existing EU law; believes that timely avoidance of petitions with clear national competences along with comprehensive explanations and instructions about alternative courses of action, where appropriate, could contribute to a constructive approach and an enhanced citizens engagement considers, in this context, that the European Parliament should increase its efforts to promote the role and work of its Committee on Petitions and raise awareness among all EU citizens of the possibility to address a petition to the European Parliament; recalls that due to the limited time allotted to committee meetings, most petitions are treated through written procedure; recalls, in this context, that all petitions received, including those in the area of international affairs, should be handled with the necessary transparency and impartiality; is of the opinion that the selection of petitions for discussion in committee should reflect a geographical and political balance of submissions received; believes, moreover, that geographical balance should also be sought when organising the committee’s fact-finding visits, yearly and over the course of each legislative term;

    39. Welcomes the adoption of the short motion for a resolution on the creation of a European Capital of Local Trade[2] at the plenary session of January 2023; underlines that this achievement is an excellent result for the Committee on Petitions, noting that this project has been successfully included as a preparatory action in the 2024 budget, with a total budget of EUR 3 million; recalls that the project to create a European Capital of Small Retail (ECSR) was officially presented by the Commission in Barcelona in December 2023;

    40. Instructs its President to forward this resolution and the report of the Committee on Petitions to the Council, the Commission, the European Ombudsman, and the governments and parliaments of the Member States, their petitions committees and their national ombudsmen or similar competent bodies.

     

    EXPLANATORY STATEMENT

    Pursuant to Rule 233(7) of the Rules of Procedure of the European Parliament, the Committee on Petitions shall report annually on the outcome of its deliberations. The report aims to provide a comprehensive overview of the work carried out by the committee in 2023 and includes a statistical analysis of the petitions received and processed as well as a stocktaking of other parliamentary activities such as the adoption of reports and opinions, the organisation of hearings and the committee’s relations with other EU institutions. It is worth recalling that the core work of the Committee on Petitions generates from the right to petition the European Parliament exercised by EU citizens and residents under Article 227 TFEU and is not directly linked to the work programme of the Commission.

     

    In 2023, following the decision taken in 2022, all the measures put in place in the European Parliament in the context of the COVID-19 pandemic aiming at ensuring Parliament’s core functions were confirmed. All committee meetings in 2023 took place in Parliament’s premises, with the participation of MEPs, as well as of Commission’s representatives, in person. Petitioners have had the possibility to participate remotely or in person.

     

    Statistical analysis of petitions received in 2023 compared to 2022

     

    According to the statistics, the European Parliament received 1 452 petitions in 2023, which represents an increase by 16.0 % compared to the 1217 petitions submitted in 2022 and by 4.0 % compared to the 1392 petitions registered in 2021. The number of petitions on COVID-19 has significantly decreased compared to the two previous years: 12 petitions on 2023 compared to 45 petitions in 2022 and 242 petitions in 2021.

     

    Users of the Petitions Web Portal have the possibility to support petitions. In 2023, 26331 users acted as supporters as compared to 2022, 22441 and 209272 in 2021. It follows, that in 2023 the number of users supporting petitions in the web portal slightly increased in comparison with the previous year. The number of supports increased in 2023, reaching 29287 compared to 27927 in 2022 but incomparably lower compared to the 217876 in 2021;

     

    In 2023, 11 petitions were co-signed by more than one citizen. Of the 11 petitions signed by more than one citizen, only 1 was signed by more than 100 citizens; of those 11 petitions, only 1 was signed by more than 500 citizens and none by more than 5000 citizens;

     

    Format of petitions

    In 2023, 82.4 % of petitions were submitted via the Petitions Web Portal, while almost 17.6 % of petitions were submitted by post. The figures in the two tables reveal that in 2023 the proportion of petitions submitted via the Petitions Web Portal slightly increased in comparison with 2022, the Petitions Web Portal remaining by far the most used channel for submitting citizens’ petitions to the European Parliament.

     

     

     

     

    2023

     

     

     

    2022

    Petition Format

    Number of petitions

    %

    Petition format

    Number of petitions

    %

     

     

    Petition Portal

     

    1186

    82.4

    Petitions Portal

    962

    79.05

    Letter

     

    254

    17.6

    Letter

    255

    20.95

    The following table shows the status of petitions from 2003 to 2023. It can be noted that in 2023, a very large majority (⅔) of petitions were closed within a year after being received and examined by the committee. As a result of the comparison with the data on the status of petitions included in the annual reports from 2010 to 2022, it can be concluded that a significantly majority of petitions are closed within a year after being received and examined. Except for the year 2023 and partially for year 2016, less than 11% of the petitions received each year since 2003 and very small percentages (from 0.2% to 1.5%) of petitions from 2004 to 2014 remain open. Most of these open petitions relate to environmental issues and ongoing infringement proceedings before the Court of Justice of the European Union or to issues that members of the committee want to follow closely. An important number of petitions on the beach concessions in Italy (in total 450) have been submitted from 2012 to 2023, with a high number in 2016 and 2023 and are still open with a relevant impact on the statistics.

    Status of petitions

     

    Year

     

    Number of petitions

     

    Open petitions

     

     

    Closed petitions

    2023

    1 452

    334

    23.2%

    1 106

    76.8%

    2022

    1 210

    142

    11.7%

    1 068

    88.3%

    2021

    1 388

    154

    11.1%

    1 234

    88.9%

    2020

    1 570

    141

    9.0%

    1 429

    91.0%

    2019

    1 355

    113

    8.3%

    1 242

    91.7%

    2018

    1 219

    110

    9.0%

    1 109

    91.0%

    2017

    1 270

    57

    4.5%

    1 213

    95.5%

    2016

    1 568

    249

    15.9%

    1 319

    84.1%

    2015

    1 431

    64

    4.5%

    1 367

    95.5%

    2014

    2 715

    38

    1.4%

    2 677

    98.6%

    2013

    2 891

    33

    1.1%

    2 858

    98.9%

    2012

    1 986

    26

    1.3%

    1 960

    98.7%

    2011

    1 414

    14

    1.0%

    1 400

    99.0%

    2010

    1 656

    14

    0.8%

    1 642

    99.2%

    2009

    1 924

    5

    0.3%

    1 919

    99.7%

    2008

    1 886

    12

    0.6%

    1 874

    99.4%

    2007

    1 506

    15

    1.0%

    1 491

    99.0%

    2006

    1 021

    2

    0.2%

    1 019

    99.8%

    2005

    1 016

    2

    0.2%

    1 014

    99.8%

    2004

    1 002

    2

    0.2%

    1 000

    99.8%

    2003

    1 315

    0

    0.0%

    1 315

    100.0%

     

    Outcome of petitions[3]

     

    2023

     

     

     

    2022

    Outcome of petitions

    Number

    %

    Outcome of petitions

    Number

    %

     

     

    Admissible and Closed

    677

    46.65

    Admissible and Closed

    527

    43.48

    Admissible and Open

    334

    23.00

    Admissible and Open

    327

    26.98

    Inadmissible

    429

    29.55

    Inadmissible

    357

    29.46

    Withdrawn

    13

    0.8

    Withdrawn

    5

    0.08

    Sent to EC for opinion

    572

    55.21

    Sent to EC for opinion

    482

    37.57

    Sent for opinion to other bodies

    12

    1.16

    Sent for opinion to other bodies

    12

    0.94

    Sent for information to other bodies

    452

    43.63

    Sent for information to other bodies

    789

    61.5

     

    The tables show that the petitions declared inadmissible in 2023 vs 2022 is significantly higher in terms of number but as percentage, the petitions declared inadmissible in 2023 remained stable as compared to 2022.

    The percentage of admissible petitions (46.65%), which were closed immediately by providing information to the petitioner in 2023, is slightly higher as compared to 2022. The percentage of petitions that have been kept open in 2023 (23.00%) have slightly decreased compared to 2022 (26.98%).

    It is also to be noted that in 2023, more than the half (55.21 %) of the admissible petitions were sent to the Commission for opinion.

    Finally, the percentage of petitions sent to other bodies for opinion remained the same in 2023 as compared to 2022.

    Number of petitions by country

    The following two tables illustrate in numbers and in percentage terms changes of petitions by country from 2022 to 2023. A large number of petitions submitted in both years concern the EU. It means that these petitions either raise EU-wide issues or call for common measures to be implemented throughout the EU. Petitions concerning the EU may also relate to one or more Member States and are therefore registered under both the EU and the concerned Member State(s). This explains why the sum of the petitions concerning the EU and of those only related to Member States exceeds the total number of petitions submitted in 2022 and 2023.

    Additionally, it is worth stressing that the six countries mostly concerned by petitions remained the same in both years although the order of the most concerned countries has changed in 2023 compared to 2022, (Italy in 2023 takes the second seat occupied by Germany in 2022 and Greece takes the sixth seat in 2023 occupied by Poland in 2022). The majority of petitions submitted in 2023 concern Spain, with a relevant increase in terms of numbers in comparison with 2022. It is interesting to note the very significant increase in the number of petitions concerning Italy (from 101 to 202) and Portugal (from 17 to 38), and an opposite flow of the number of petitions related to Greece, with a decrease from 71 to 53. A relevant aspect to underline is that the number of petitions related to France, increased (from 39 to 53) in comparison with 2022.

    By contrast, petitions concerning non-EU countries decreased significantly in 2023 compared to petitions submitted in 2022 (from 226 to 176).

    As regards the countries featuring at the bottom of the list, Slovakia, Cyprus and Luxembourg, are the least concerned countries in 2023, while in 2022 it was the case for Czechia, Estonia and Slovakia.

     

     

    2023

     

     

     

     

    2022

     

    Concerned Country

    Petitions

    %

     

    Concerned Country

    Petitions

    %

    European Union

    660

    45.8

     

    European Union

    566

    46.7

    Spain

    267

    18.5

     

    Spain

    199

    16.4

    Italy

    202

    14.0

     

    Germany

    139

    11.5

    Germany

    120

    8.3

     

    Italy

    101

    8.3

    Romania

    65

    4.5

     

    Greece

    71

    5.9

    France

    53

    3.7

     

    Romania

    59

    4.9

    Greece

    53

    3.7

     

    Poland

    54

    4.5

    Poland

    53

    3.7

     

    France

    39

    3.2

    Portugal

    38

    2.6

     

    Hungary

    20

    1.7

    Hungary

    24

    1.7

     

    Ireland

    19

    1.6

    Other EU countries

    193

    13.3

     

    Other EU countries

    143

    11.9

    Non-EU countries

    176

    12.2

     

    Non-EU countries

    226

    18.6

     

    Languages of petitions

    In 2023 and in 2022, petitions were submitted in 22 of the official languages of the European Union. English and Spanish were the most used languages in both 2022 and 2023, with Spanish re-confirmed as the second most used language, after English. Italian gained a position and became the third most used language in 2023, to the detriment of German which is the fourth in 2023. The tables illustrate that English continued to account for more than ¼ of the total of petitions submitted and that English, Spanish, Italian and German languages account for more than ¾ of the petitions received in 2023 and 2022 (77.5% and 76.2% respectively). Slovak, Estonian and Croatian were the least used languages in 2023 while in 2022 it was the case of Slovenian, Czech and Croatian.

     

     

     

     

    2023

     

     

     

    2022

     

    Petition Language

    Number of petitions

    %

     

    Petition Language

    Number of petitions

    %

    English

    382

    26.5

     

    English

    325

    26.7

    Spanish

    301

    20.9

     

    Spanish

    251

    20.6

    Italian

    224

    15.6

     

    German

    215

    17.6

    German

    209

    14.5

     

    Italian

    138

    11.3

    French

    74

    5.1

     

    French

    58

    4.8

    Polish

    49

    3.4

     

    Polish

    56

    4.6

    Greek

    47

    3.3

     

    Greek

    43

    3.5

    Romanian

    44

    3.1

     

    Romanian

    42

    3.5

    Others

    110

    7.6

     

    Others

    89

    7.3

    Total

    1440

    100

     

    Total

    1217

    100

     

    Nationality of petitioners

    As regards nationality, while petitions submitted by Spanish citizens represented the highest number in 2023 confirming not only the first place of the 2022 but also registering an important increase (from 266 to 330), Italian citizens exceeded German petitioners and became the second nationality in submitting petitions in 2023 with a significant increase (from 159 to 254).

     

    In addition, the tables below show a slight rise in the number of petitions submitted by Portuguese nationals in 2023 in comparison with the previous year. By contrast, the number of petitions by Hungarian citizens sensibly decreased in 2023, from 33 submitted in 2022 to 21 in 2023.

     

    Two additional observations: in 2023, the number of petitions submitted by other EU nationalities increased significantly compared to 2022, from 170 to 209, and petitions submitted by non-EU nationalities slightly decreased, accounting for 3% of the total.

     

     

    2023

     

     

     

    2022

     

    Prime petitioner nationality

    Number of petitions

    %

     

    Prime petitioner nationality

    Number of petitions

    %

    Spain

    330

    22.9

     

    Spain

    266

    21.9

    Italy

    254

    17.6

     

    Germany

    251

    20.7

    Germany

    246

    17.1

     

    Italy

    159

    13.1

    Romania

    93

    6.5

     

    Romania

    78

    6.4

    France

    71

    4.9

     

    Poland

    73

    6.0

    Poland

    64

    4.4

     

    France

    60

    5.0

    Greece

    62

    4.3

     

    Greece

    60

    5.0

    Portugal

    39

    2.7

     

    Hungary

    33

    2.7

    Belgium

    29

    2.0

     

    Portugal

    26

    2.1

    Other EU nationalities

     

    209

     

    14.6

     

    Other EU nationalities

     

     

    170

     

    13.9

    Non-EU nationalities

    43

    3.0

     

    Non-EU nationalities

    49

    4.0

     

    Main subjects of petitions

     

    The tables below include the top ten petition themes. From the tables, it appears that the main themes did not differ from one year to another. While in 2022 environment, fundamental rights and justice were the top three petition themes, in 2023 environment, internal market as well as fundamental rights ranked the highest.

    In 2023 the number of petitions raising concerns over the internal market had a significant increase compared to 2022 (194 vs 84), which represent more than the double. This could be explained by the high number of petitions related to the beach concessions in Italy submitted in 2023.

    As regard petitions on health, their number in 2023 (119) remained stable compared to the 115 petitions registered under the same theme in 2022. In the field of the external relations, a slight decrease can be noted, explained by a decrease of the number of petitions on the Ukraine’s war and a significant increase of petitions dealing with the new conflict in the Middle East.

    As far as fundamental rights theme is concerned, the number of petitions on this topic is stable in 2023 compared to 2022. This might be due to the fact that in 2023, an important number of petitions (40) registered under the theme of fundamental rights raised concerns over the respect of the rule of law in Spain.

    2023

     

    2022

    Top 10 Petition themes

    Number of petitions

    %

    Environment

    308

    21.5

    Internal Market

    194

    13.4

    Fundamental Rights

    193

    13.4

    Personal Matter

    179

    12.4

    Justice

    167

    11.6

    Health

    119

    8.3

    External Relations

    96

    6.7

    Consumer’s Right

    93

    6.5

    Transport

    93

    6.5

    Constitutional Affairs

    68

    4.7

    Top 10 Petition themes

    Number of petitions

    %

    Environment

    258

    21.2

    Fundamental Rights

    211

    17.4

    Justice

    189

    15.6

    External Relations

    126

    10.4

    Personal Matter

    126

    10.4

    Health

    115

    9.5

    Employment

    73

    6.0

    Consumer’s right

    66

    5.4

    Institutions

    63

    5.2

    Energy

    61

    5.0

     

    Petitions Web Portal

    In 2023, the Petitions Web Portal, launched in late 2014, was further improved to make it more user-friendly, more secure and more accessible to petitioners.

    The Petitions Web Portal was revamped and relaunched in February 2023 to align with modern expectations and make it easier for EU27 residents to exercise their right to submit petitions to the European Parliament. The updated PETI Portal 2.0 integrated seamlessly with the EP’s web publishing tool, enabling faster and simpler content updates. Its responsive design ensured compatibility with all devices and screen sizes. New features included four ‘Quick Start Guides’ – available in all 24 EU official languages – that provide clear, step-by-step instructions for submitting, tracking and supporting petitions. Additionally, a new search engine powered by elastic search technology enhanced user experience by delivering more accurate results efficiently. The new portal prioritises a truly citizen-centred approach.

     

    In April 2023, the PETI Portal 2.0 was presented to an extended Steering Committee (comprising group advisers and DG IPOL Strategy and Innovation representatives). Updates on releases, petition statistics and a communication strategy to boost the portal’s visibility were also discussed. Moreover, the portal was actively promoted through various media channels, including Europarl, Twitter, the Director-General’s newsletter and events such as the Open Doors Day.

     

    The automatic notification system has been extended and improved to inform petitioners and supporters by email – if they have opted in – when a reply from the European Commission (“Communication to Members” or “CM”) has been published and translated into the petition’s original language and the other languages of the Committee.

     

    The PETI Portal team ensured that all petitions were published within days of their adoption and promptly responded to numerous petitioner queries – across all EU languages – received through the chatbot and Smart Helpdesk.

     

    Relations with the Commission

    The Commission remains the natural partner of the Committee on Petitions in processing petitions as the responsible EU institution for ensuring the implementation of and compliance with EU law. The committee and the Commission have a well-established and consistently maintained level of cooperation. The main contact point in the Commission is the Secretariat-General, which coordinates the distribution of petitions to the relevant Commission’s services and transmits the Commission’s replies to the secretariat of the committee. The Commission’s services participate in the meetings of the Committee of Petitions when petitions are discussed in committee on the basis of the Commission’s written reply or of other documents received. While the Commission has stepped up its efforts to provide timely responses to requests for information made by the Committee on Petitions, the committee believes that the Commission should be more actively involved in the work of the Committee on Petitions in order to ensure that petitioners receive a precise response to their requests and complaints regarding the implementation of EU law.

    Additionally, the committee reiterated its calls for regular updates on developments in infringement proceedings and EU pilot procedures, which relate to open petitions. Finally, the committee remains critical as regards the Commission’s new enforcement policy based on in its 2016 communication entitled ‘EU Law: Better Results through Better Application’ (C(2016)8600), which aims to direct citizens to the national level when complaints or petitions do not raise issues of wider principle or systematic failure to comply with EU law. In this regard, the committee considers that the Commission should check whether national authorities take the necessary steps to respond to citizens’ concerns as expressed in their petitions.

    Pursuing to the Annex IV of the Framework Agreement on relations between the European Parliament and the European Commission on the Timetable for the Commission’s Work Programme and as part of the annual cycle of the structured dialogue, the Committee on Petition welcomed the remote participation of Vice-President of the European Commission for Interinstitutional Relations and Foresight Maroš Šefčovič at its meeting on 28 February 2023. The exchanges of views focused on the state of implementation of the Commission Work Programme as well as on the cooperation between the Petitions Committee and the European Commission on improving relations in the handling of petitions.

    It is also worth noting the Commission’s intervention in the Committee on Petitions’ events throughout the year. In particular the intervention of representatives of the Commission during the presentation of the following studies: study on ‘The boundaries of the Commission’s discretionary powers when handling petitions and potential infringements of EU law’ (Implementation & Enforcement of EU Law) on 26 April 2023; study on “Cross-Border Legal Recognition of Parenthood in the EU” (DG JUST) on 17 July 2023; study on “Compensation for Victims of climate change disasters” (DG CLIMA) on 18 July 2023; study on “Homelessness in the European Union” (DG EMPL) on 30 November 2023.

    Representatives of the Commission also participated in several PETI hearings in 2023: public hearing on “The impact of climate change on social security and the most vulnerable groups” organised on 22 March (DG EMPL), hearing on “The state of implementation of the Habitats Directive” on 24 May 2023 (DG ENV.E – implementation and relations with Member States) with a focus on the infringement actions brought in the context of the Habitat Directive; hearing in association with Committee on Liberties, Justice and Home Affairs on “Schengen Borders – issues raised by petitioners” (DG HOME – Unit of Schengen and External Borders) with a focus on “Historical overview: establishment of the Schengen agreement, its progressive extension and the transfer of the Schengen acquis to the EU competence” on 18 July 2023; hearing on “A reflection on the European Parliament’s Committee on Petitions and the petitions’ systems of third countries” on 24 October 2023.

    Finally, on 29 November 2023, in the annual workshop on the rights of persons with disabilities focusing on “Coping with the cost-of-living crisis and Inclusive communication”, Helena DALLI, the former European Commissioner for Equality intervened via a recorded video statement followed by representatives of DG Communication.

    ECI

    The European Citizens’ Initiative (ECI) is a European Union (EU) mechanism aimed at increasing direct democracy by enabling “EU citizens to participate directly in the development of EU policies”. The initiative enables one million citizens of the European Union, who are nationals of at least seven member states, to call directly on the European Commission to propose a legal act in an area where the member states have conferred powers onto the EU level. If at the end of the procedure, the ECI initiative reaches the threshold, organisers are invited to a hearing organised by the committee for petitions, to present their initiative, and afterwards, Parliament may decide to debate further and adopt a resolution on plenary on the topic.

     

    On 24 January 2023, the Committee on Agriculture and Rural Development (AGRI) jointly with the Committee on Environment, Public Health and Food Safety (ENVI) and with the association of the PETI Committee, held a public hearing on the European Citizens’ Initiative (ECI) “Save bees and farmers! Towards a bee-friendly agriculture for a healthy environment”. The initiative requests the phasing out of synthetic pesticides by 2035, a broader support to farmers and the development of the agriculture by prioritising small scale, diverse and sustainable farming, supporting a rapid increase in agro-ecological and organic practice, and enabling independent farmer-based training and research into pesticide. The former Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevicius and the former Commissioner for agriculture Janusz Wojiechowski presented their points of view on the different topics, showing the need for legislators to work together with all the stakeholder groups.

     

    On 27 March 2023, the Committee on Fisheries (PECH) organised, in association with the Committee on Petitions and the Committee on the Environment, Public Health and Food Safety (ENVI), a public hearing on the ECI “Stop Finning – Stop the Trade”. The initiative requests to the Commission to propose legal measures to end the trade of shark and ray fins in the EU, including the import, export and transit of fins, other than if naturally attached to the animal’s body, notably by extending the scope of Regulation (EU) No 605/2013. Former Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevicius intervened stressing that ECI raises important issues that are relevant to the EU’s policy of protecting the marine environment, protecting and conserving fisheries resources and ensuring sustainable fishing in the EU and globally.

     

    On 25 May 2023, Committee on Environment, Public Health and Food Safety (ENVI) organised in association with the Committee on Petitions and the Committee on Agriculture and Rural Development (AGRI), a public hearing on the ECI “Save cruelty-free cosmetics – Commit to a Europe without animal testing”. The initiative requests three main objectives: protect and strengthen the cosmetics animal testing ban, transform EU chemicals regulation, ensuring human health and the environment by managing chemicals without the addition of new animal testing requirements and modernise science in the EU.

     

    On 12 October 2023, the Committee on Agriculture and Rural Development (AGRI) and the Committee on the Internal Market and Consumer Protection (IMCO) organised, in association with the Committee on Petitions, a public hearing on the ECI “Fur-Free Europe”. The initiative calls on the EU to ban the rearing and killing of animals for the purpose of fur production. It also asked for a ban on the placing on the Union market of both fur from animals farmed for their fur, as well as products containing such fur. Former Commissioner for Health and Food safety Stella Kyriakides recalled that after a deep technical analysis, the Commission will eventually evaluate the necessity and justification of the bans requested by the ECI’ organisers in pursuing objectives of environmental and public health, of animal health and welfare objectives, in ensuring that consumer concerns can be addressed in practice, as well as in ensuring a smooth operation of the internal market.

     

    Article 230 of the Rules of Procedures of the European Parliament allows the Committee on Petitions, if it considers appropriate, to examine proposed citizens’ initiatives which have been registered in accordance with Article 4 of Regulation (EU) No 211/2011, but which cannot be submitted to the Commission in accordance with Article 9 of that Regulation, since not all the relevant procedures and conditions laid down have been complied with. On that basis, the Committee held on 27 April 2023 a debate on the European Citizens’ Initiative (ECI) “Ensuring Common Commercial Policy conformity with EU Treaties and compliance with international law” with the participation of the organisers and a representative of the Commission and members of the committee. The ECI representatives’ main objective was to invite the Commission to propose a legal acts based on the Common Commercial Policy to prevent EU legal entities from both importing products originating in illegal settlements in occupied territories and exporting to such territories, in order to preserve the integrity of the internal market and to not aid or assist the maintenance of such unlawful situations. Although the ECI ended without reaching the threshold of 1 million signatures, the Committee on Petitions could shed light on it and decide to send the petition to the Committee on International Trade for opinion and to ask the European Commission for an update on this topic.

     

    In accordance with the same article, the Committee held on 24 October 2023 a debate on the European Citizens’ Initiative (ECI) “Good Clothes, Fair Pay”, with the participation of the organisers and a representative of the Commission and members of the committee. The ECI representatives’ main objectives were to invite the Commission to propose legislation, requiring undertakings active in the garment and footwear sector to conduct due diligence in respect of living wages in their supply chain achieving the following objectives: (a) complement and build on the ‘EU’s Sustainable Corporate Governance framework’, and the ‘EU Adequate Minimum Wage Directive’; (b) require undertakings to identify, prevent and mitigate adverse impacts on the human right to a living wage and freedom of association and collective bargaining rights; (c) reduce poverty in the Union and worldwide, paying particular attention to the circumstances of women, migrants and workers with precarious contracts and the need to combat child labour; (d) prohibit unfair trading practices which cause, or contribute to, actual and potential harms to workers in the garment and footwear sector and promote fair purchasing practices; (e) provide a right to information for consumers regarding undertakings in the garment and footwear sector; (f) improve transparency and accountability of undertakings in the garment and footwear sector. Although the ECI ended without reaching the threshold of 1 million signatures, the Committee on Petitions could shed light on it and decide to send the petition to the Committee on Employment and Social Affairs for opinion and to ask the European Commission for an update on this topic.

     

    Relations with the Council

    Members of the Council’s Secretariat may attend the meetings of the Committee on Petitions. Regrettably, in 2023, the committee did not observe Council’s participation in the debates. Nevertheless, the committee notes the participation by some local or regional authorities in the discussion on petitions in committee meetings, which in 2023 concerned mainly Spanish-related topics. Also on 30 November 2023, the committee acknowledges the participation of the Head of the Diversity and Inclusion Office of the Council of the EU at the annual workshop on the rights of persons with disabilities.

     

    Relations with the European Ombudsman

    The Committee on Petitions continued its constructive, long-standing working relations with the office of the European Ombudsman, contributing to the increase of the democratic accountability of the EU institutions.

     

    On 27 June 2023, the committee heard the presentation of the European Ombudsman’s Annual Report 2022, delivered by Ms Emily O’Reilly. The report documented the Ombudsman’s work on transparency and accountability (e.g. access to information and documents), culture and service, respect of fundamental rights, the proper use of discretion (including in infringement procedures), recruitment, good management of personnel issues, respect of procedural rights, sound financial management, ethics and public participation in EU decision-making. In 2022, the Ombudsman opened 348 inquiries, of which four were on her own initiative, while closing 330 inquiries. The largest percentage of inquiries concerned the European Commission (57.1%), followed by the European Personnel Selection Office (6.3%), the European Parliament (5.5%) and the European External Action Service (4.6%). The remaining enquires concerned other EU institutions, agencies and bodies with the European Border and Coast Guard Agency (Frontex) totalling 4.3% and the European Union Aviation Safety Agency 2%.

     

    It is also worth noting the intervention by inquiries Officer in the Ombudsman’s Strategic Inquiries Team at the committee’s annual workshop on the rights of persons with disabilities which took place on 29 November 2023.

    Relations with the European Court of Auditors

    Over recent years, the Committee on Petitions has built constructive working relations with the European Court of Auditors (ECA) and has actively contributed to its annual work programmes.

    Relations with other EU bodies

    On 22 March 2023 in the frame of the workshop organised by the Committee on Petition on “The impact of climate change on social security and the most vulnerable groups’, the Head of Climate Change Impacts and Adaptation of the European Environment Agency spoke on “Social preparedness for current and future climate risks”.

    On 24 May 2023 in the frame of the workshop organised by the Committee on Petition on “The state of implementation of the Habitats Directive”, a nature and biodiversity expert at the European Environment Agency intervened in the session “How to promote full compliance by Member States of the Habitats Directive?”.

    On 20 September 2023, the Committee on Petitions organised an Interparliamentary Committee Meeting with a focus on the Cooperation with the Committees on Petitions in national Parliaments – Exchanging best practices and reflecting on new approaches and in the Panel 1 on “The right to petitions, Parliaments rules, procedures and practices” several Members of National Parliaments took the floor, in particular a Member of Spanish Senate, a member of Belgian Federal Parliament. In the second Panel titled “Best Practices And New Approaches To The Right To Petition National Parliaments’ Point Of View” some National Members intervened, among others, one Member of Italian Chamber, one Member of German Bundestag, one member of the French Senate and one Member of the Polish Sejm.

    On 24 October 2023, the Committee on Petitions organised a public hearing on “A reflection on the European Parliament’s Committee on Petitions and the petitions’ systems of third countries” and in this frame several Members of the extra EU National Parliaments intervened. In particular, two representatives of the House of Commons of Canada presented “An analysis of the legal, institutional and procedural framework governing the petitions’ system in Canada”, followed by a member of Federal Senate of Brazil who analysed ‘the legal, institutional and procedural framework governing the petitions’ system in Brazil’. In the second panel of the hearing, one member of the Norwegian Parliament analysed ‘The legal, institutional and procedural framework governing the petitions’ system in Norway”.

    On 29 November 2023, a representative of the Fundamental Rights Agency took the floor in the first panel of the annual workshop on the rights of persons with disabilities.

    Fact-finding visits

    In 2023, the Committee on Petitions organised four fact-finding visits.

     

    The committee organised a fact-finding visit to Romania (Bucharest, Sfântu Gheorghe and Suceava), from 15 to 18 May 2023, on the management and the protection of the brown bear population as raised in Petitions Nos 1188/2019, 1214/2019, 0685/2020, 0534/2021, 0410/2022 and the illegal logging in the country, petitions Nos. 1248/2019, 0408/2020, 0722/2020 and1056/2021. The aim of the mission was to collect as much information as possible on the two subjects of interest, to establish facts and to seek solutions. In this regard, the delegation met various interlocutors, such as national and regional authorities, petitioners, NGOs, environmental activists, as well as representatives of academia and. Following rich exchanges, Members acquired first-hand information and knowledge about the challenges related to the management and the protection of the brown bear population and to the illegal logging and the fight against it in Romania.

     

    From 13 June to 15 June 2023, two Members of the Committee on Petitions participated in a joint ad hoc EMPL, LIBE and PETI delegation to the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP), which took place at the United Nations Headquarters, New York. Members participating in the delegation took part in several official sessions of the Conference, side events (including one organised by the EP), as well as in a series of bilateral meetings with UN officials, European and non-European governmental and non-governmental organisations, working for the realisation of the rights of persons with disabilities. The main purpose of the delegation was to build on the well-established contacts of the previous year and to highlight and guarantee Parliament’s oversight in the implementation and monitoring of the UN CRPD, within the “Team Europe” cooperation.

     

    A fact-finding visit was organised to the region of Donegal (Ireland) from 30 October to 1 November 2023 on the use of defective mica blocks in construction in Ireland, an alleged non-compliance with the EU Construction Products Regulation (CPR) and on the protection of homeowners as raised on Petitions Nos. 0789/2021, 0790/2021, 0799/2021, 0800/2021, 0801/2021, 0813/2021, 0814/2021 and 0837/2021.During the mission, the delegation was made aware of the large scale and complexity of the challenges related to the use of defective building blocks in construction in Ireland, with significant health, financial and social consequences.

    Between 18 and 20 December 2023, the Committee on Petitions conducted a fact-finding visit to Catalonia (Spain) with the aim of assessing in situ the language immersion model in Catalonia, its impact on families moving to and residing in the region as well as on multilingualism and non-discrimination and the principle of the Rule of Law as raised on petitions Nos. 0858/2017, 0650/2022 and 0826/2022. The objective of this fact-finding visit was to investigate the claims made in the petitions, establish facts, seek solutions and establish a dialogue with regional authorities to obtain a better insight into various aspects concerning the language immersion model in Catalonia. The mission has enabled the Committee to gain a better understanding of the model’s impact on families moving to and residing in the region as well as on multilingualism, non-discrimination and compliance with international and EU law.

    Public Hearings

    In 2023, the Committee on Petitions organised four public hearings, partly jointly with other parliamentary committees. The public hearings covered a wide range of subject raised in petitions.

     

    On 28 February 2023, the Committee on Petitions hosted a public hearing on the “language immersion model in Catalonia, Spain”. The hearing was organised as follow up on several petitions (Nos. 0858/2017and 0650/2022) on the impact of full immersion in Catalan at schools and covered four main themes: the compatibility between European regulations and case law and the linguistic model in Catalonia, the impact of linguistic immersion in Catalonia on the school performance of students whose mother tongue is Spanish, the Catalan linguistic-cultural model and the linguistic immersion in Catalonia, respect for secular bilingualism in Catalonia and compatibility with the linguistic conjunction model.

     

    On 24 May 2023, the Committee on Petitions held, in association with the Committee on the Environment, Public Health and Food Safety, a public hearing entitled “The state of implementation of the Habitats Directive”. Following a significant number of petitions received alleging the breach of the Habitats Directive, the hearing aimed to take a closer look at how the Habitats Directive has being implemented and enforced in the Member States. It was organised in two sessions, and the experts invited, focused, in particular, on the following topics: implementation and infringement overview, implementation challenges and the infringement procedure as an efficient tool for the enforcement of the Habitats Directive. Furthermore, the speakers identified possible best practices to promote full compliance of Member States with the Habitats Directive.

     

    On 18 July 2023, the Committee on Petitions held, in association with the Committee on Civil Liberties, Justice and Home Affairs, a public hearing on: ‘Schengen Borders: – issues raised by petitioners’. On the basis of several petitions Nos. 0428/2020, 0653/2020, 0227/2022, 0719/2022, 0004/2023 and 0037/2023 the hearing aimed at giving voice to citizens’ concerns over the reintroduction of border checks between some Member States (e.g. Denmark and Sweden, Denmark and Germany), thus limiting the free movement of persons within the EU. It also touched upon other aspects such as the strengths and the weaknesses, the extension of the Schengen area, as well as the costs of Non-Schengen. The exchanges were organised in two panels, with the first focusing on the historical background and the current state of play of the Schengen area and the second on the issue of reintroduced border controls within the Schengen area. The Commission pointed out the ongoing dialogue with the Member States and the review of the Schengen Borders Code and stressed that the enlargement of the Schengen area remains a priority.

     

    On 24 October 2023, the Committee held the public hearing ‘A reflection on the EP Committee on Petitions and the petitions’ systems of third countries’. The hearing focused on the analysis and comparison of the EU petitions’ system and the petitions’ systems of selected non-European countries with shared democratic values, namely Canada, Brazil and Norway. The aim was to exchange best practices that could inspire the EU petitions’ system to become more efficient and closer to the citizens and to gather evidence on how citizens can bring forward their concerns through petitions. The experts analysed the legal, procedural and institutional framework governing the Canadian, Brazilian and Norwegian petitions’ systems, as well as the differences with the EU system concerning the submission, admissibility, examination and closure of petitions.

    Workshops

    In 2023, the Committee on Petitions organised three workshops covering subject-matters raised in petitions.

     

    On 25 January 2023, the Committee on Petitions held a workshop on “Transparency of pricing and reimbursement of medicinal products”. The workshop discussed transparency from the perspective of patients/consumers, producers of medicinal products, and academic research. The discussions focused on research and development costs of companies and information available on the actual prices paid for medicines. The exchanges concluded that without full transparency on these issues, any discussion on fair medicine prices and access to medicinal products remains highly difficult.

     

    On 22 March 2023, the Committee on Petitions hosted a workshop on “The impact of climate change on social security and the most vulnerable groups”. The workshop focused on the effects of climate change on vulnerable groups in society, such as the elderly, low-income families, and people with disabilities. It also looked into the role attribution science – an area of science that aims to determine which extreme weather events can be explained by or linked to climate change – can play in helping develop (social) policies for the future.

     

    On 29 November 2023, the Committee on Petitions held its “Annual Workshop on the Rights of Persons with Disabilities”, during the first European Parliament’s Disability Rights Week. The workshop focused on two themes: coping with the cost-of-living crisis and on inclusive communication. The first panel looked into the situation of persons with disabilities in the context of recent crises (COVID-19 pandemic, energy crisis and rising inflation) and discussed proposals for measures to overcome obstacles. The second panel debated the European institutions’ efforts to ensure effective communication with and about persons with disabilities, both internally and in their relations with citizens.

    Studies

    In 2023, the committee heard the presentations of the following studies commissioned by the Policy Department for Citizens’ Rights and Constitutional Affairs at its request:

    – Study on ‘FATCA legislation and its application at international and EU level: – An Update’ on 25 January 2023. Professor C. Garbarino described the most relevant developments in the period 2018-2022 in chronological order and drew conclusions, which include a systemic view of the institutional dynamics, a provisional legal analysis on the basis of existing rules and policy suggestions.

    – Study on “Environmental Crime affecting EU financial interest, the economic recovery and the EU’s green deal objectives”, presented by Prof. Dr Michael G. Faure (Professor of comparative and international environmental law at Maastricht University and Professor of comparative private law and economics at Erasmus School of Law in Rotterdam) and Dr. Kévine Kindji, (Research fellow at at the Maastricht European Institute for Transnational Legal Research (METRO) at Maastricht University) on 25 January 2023. The study suggested that despite commendable efforts, the transnational nature of environmental crime and its convergence with organised crime, money laundering and corruption, have not been adequately integrated into current reforms. It concluded that a proper categorization of environmental crime as a ‘serious crime’ was needed as an essential basis for policy reforms;

     

    – Study on ‘The boundaries of the Commission’s discretionary powers when handling petitions and potential infringements of EU law’, presented by Prof. Armin Cuyvers (Leiden University) on 26 April 2023. The study analysed the legal limits on the discretion of the Commission when deciding to launch, or not to launch, an infringement action, especially in response to a petition. In addition, it assessed how the Commission uses this discretion in practice, and formulates recommendations on improved political collaboration between the European Parliament and the Commission, in the interest of EU citizens;

     

    – Study on “Cross-Border Legal Recognition of Parenthood in the EU”, presented by Professor Alina Tryfonidou (Neapolis University) on 17 July 2023. It examined the problem of non-recognition of parenthood between Member States and its causes, the current legal framework and the (partial) solutions it offers to this problem, the background of the Commission proposal, and the text of the proposal. It also provides for a critical assessment of the proposal and issues policy recommendations for its improvement;

     

    – Study on “Compensation for Victims of climate change disasters”, presented by Professor Michael Faure (Maastricht University and Erasmus Universit), on 18 July 2023. The study outlined the dangers and effects of climate change in the EU, as well as the EU policies and mechanisms to deal with climate change disasters. It also analysed the types of compensation available to victims of climate change disasters in the EU and in a representative selection of Member States and formulated several policy recommendations;

     

    – Study on “Homelessness in the European Union” presented by Professor Eoin O’Sullivan, (Trinity College) on 30 November 2023. The study insisted on the need to change systems that respond to homelessness as an issue of individual dysfunction and inadequacy, to systems that actually end homelessness. Public policy should aim to prevent homelessness in the first instance. It highlighted that the duration of homelessness should be minimised by rapidly providing secure, affordable housing, in order to reduce further experiences of homelessness, decrease costly emergency accommodation, and alleviate trauma associated with homelessness.

     

    In addition, in the frame of the Annual Workshop on the Rights of Persons with Disabilities on 29 November 2023, the following study has been presented by Magdi Birtha (European Centre for Social Welfare Policy and Research):

    – Study on “Targeted measures for persons with disabilities to cope with the cost-of-living crisis”. The study analysed the impact of the ongoing cost-of-living and energy crises on the standard of living for persons with disabilities. Based on available evidence, it provided for an overview on legislation, policy measures and schemes that support persons with disabilities and their families to cope with the rising cost of living at EU level and in selected Member States.

    Key issues

    Internal Market

    It is worth noting the high increase in 2023 in the number of petitions on internal market issues. This rise is in large part due to a high number of petitions submitted on the situation of the beach concessions in Italy in particular on alleged non-compliance with Directive 2006/123/EC on liberalisation of services (‘Bolkestein Directive’). A second major topic is related to the citizens’ concerns over the reintroduction of border checks between some Member States (e.g. Denmark and Sweden, Denmark and Germany), thus limiting the free movement of persons within the EU and other aspects such as the strengths and the weaknesses, the extension of the Schengen area, as well as the costs of Non-Schengen in particular for Romania and Bulgaria.

    The Committee adopted a short motion of resolution on the Accession to the Schengen area on 27 June 2023 and organised a public hearing on Schengen Borders: – issues raised by petitioners on 18 July 2023.

    Fundamental Rights

    Still in 2023, the committee received a high number of petitions on fundamental rights, including alleged breaches of the General Data Protection Regulation in different EU countries and on the respect of the rule of law and democracy.

    In addition, the Committee continued to receive petitions on the violation of the human rights in several third countries and a series of petitions on the fundamental rights of LGBT-EU citizens.

    Other relevant topic concerned the homelessness in the EU, how to deal with this sensitive issue and a study has been presented on November 2023, insisting on the need to change systems that respond to homelessness as an issue of individual dysfunction and inadequacy, to systems that actually end homelessness, with a new role of the public sectors.

    Environmental issues

    In 2023, environmental issues remained high in citizens’ concerns and the committee paid paramount attention to them. The protection of the environment was discussed in almost all committee meetings, on the basis of petitions. Topics such as protection of wildlife and forest policy within the EU have been discussed as well as alleged breaches of the Habitats Directive in some Member States.

    The Committee exanimated also petitions on the protection of the quality of groundwater resources against chemical environmental pollution and on control of the air pollution and air quality safeguarding of the health of the population concerned.

    In addition, the committee held fact-finding visit to Romania (Bucharest, Sfântu Gheorghe and Suceava), in relation to several petitions that raised some issues as the management and the protection of the brown bear population and the illegal logging in the country.

    Other topics submitted to the attention of the PETI committee have concerned alleged breaches of EU environmental law and the new dimension of the climate change. In this frame, the Committee on Petitions held a workshop on the impact of climate change on social security and the most vulnerable groups on March 2023 and in its meeting of July 2023, a study on Compensation for victims of climate change disasters has been presented and discussed.

    The animal welfare became a relevant topic in 2023, with a series of petitions calling for a revision of the legislation on animal welfare and a specific legislation for the protection and management of companion, domestic and stray animals inside the EU. The Committee examined petitions against the cruel treatment of animals in different Member States and proposed to have a Commissioner specifically competent for the animal welfare issues.

    Disability issues

    The Committee on Petitions plays a specific protection role as regards compliance with the United Nations Convention on the Rights for Persons with Disabilities (UNCRPD) within the policymaking and legislative actions at EU level. Within this responsibility, the committee deals with petitions on disability issues. It is worth stressing that in 2023 the number of petitions on disability (22) slightly decreased in comparison with 2022 but almost doubled as compared to 2021 (28 in 2022 and 13 in 2021). In 2023, the committee continued examining petitions on disability revealing that the main challenges remain discrimination, access to education and employment as well as inclusion. Special attention was given by the committee to Petition No 0822/2022 asking for the European Disability Statute to contemplate the rights of people with autism followed by the approval of a short motion of resolution on the same topic, Petition No 0756/2019 on an EU-wide disability card, Petition No 1056/2016 requesting the European Parliament allow for the tabling of petitions in national sign languages used in the EU as well as Petition No 0569/2023 on the accessibility of public transport for wheelchair users in Belgium.

    From 13 June to 15 June 2023, the Committee on Petitions participated in a joint ad hoc EMPL, LIBE and PETI delegation to the 16th session of the Conference of States Parties to the Convention on the Rights of Persons with Disabilities (CRPD COSP), which took place at the United Nations Headquarters, New York. The main purpose of the delegation was to build on the well-established contacts of the previous year and to highlight and guarantee Parliament’s oversight in the implementation and monitoring of the UN CRPD, within the “Team Europe” cooperation. It gave the delegation the opportunity to exchange views and discussed how ensuring equal access to and accessibility of sexual and reproductive health services for persons with disabilities and improve their digital accessibility.

     

    Finally, on 29 November 2023, the Committee hosted the Annual Workshop on the Rights of Persons with Disabilities, focusing in the first part on ‘Coping with the cost-of-living crisis’. where the situation of persons with disabilities in the face of recent crises has been presented (the energy crisis following the Russian invasion of Ukraine, together with rising inflation) and some proposals for targeted measures to overcome obstacles have been discussed (EU funds, the European Social Fund Plus and temporary instruments, the Recovery and Resilience Funds (RRF)). In the second panel on ‘Inclusive communication’ the focus was on the efforts made by the European Institutions to ensure effective communication with and about persons with disabilities, both internally and in their relations with citizens.

    Reports, Motions for Resolutions and Opinions

    The Committee on Petitions worked intensely to adopt a considerable number of parliamentary files.

     

    In 2023, the Committee on Petitions adopted three own initiative reports as follows:

     

    – Report on the Activities of the European Ombudsman – Annual Report 2021” (2022/2141(INI)) PETI/9/10044 – Rapporteur: Anne Sophie Pelletier (GUE) – adopted on 28 February 2023;

    Report under Rule 227(7) on the Deliberations of the Committee on Petitions in 2022” (2023/2047(INI)) PETI/9/11741 – Rapporteur: Alex AGIUS SALIBA (S&D) – adopted on 24 October 2023;

    – Report on the Activities of the European Ombudsman – Annual Report 2022” (2023/2120(INI)) PETI/9/12602 – Rapporteur: Peter JAHR (EPP) – adopted on 29 November 2023;

     

    The Committee also adopted the following fact-finding visits mission reports:

     

    – Report of the fact-finding visit to Poland 19-21 September 2022 PETI/9/11016 – adopted on 22 March 2023;

    – Report of the fact-finding visit to Washington D.C. 18-22 July 2022 PETI/9/11015 adopted on 22 March 2023;

    – Report of fact-finding visit to Germany from 3 to 4 November 2022 on the functioning of the “Jugendamt” (Youth Welfare Office) PETI/9/11343 adopted on 26 April 2023;

    – Report of Fact-Finding Visit to Romania from 15 to 18 May 2023 on the management and the protection of the brown bear population and the illegal logging in Romania, as raised in Petitions Nos: 1188/2019, 1214/2019, 0685/2020, 0534/2021, 0410/2022 (the brown bear population), as well as 1248/2019, 0408/2020, 0722/2020, 1056/2021 (the illegal logging) PETI/9/13165 – adopted on 29 November 2023;

     

    In addition, the committee adopted the following Motions for Resolutions:

     

    – Short motion for resolution on the Accession to the Schengen area 2023/2668(RSP), PETI/9/11832 – Rapporteur: Dolors Montserrat (Chair) – adopted on 27 June 2023;

    – Short motion for resolution on Standardised dimensions for carry-on luggage 2023/2774(RSP) PETI/9/12441 – Rapporteur: Dolors Montserrat (Chair) – adopted on 20 September 2023;

    – Short motion for resolution on Harmonising the rights of autistic persons, 2023/2768 (RSP) PETI/9/12151 – Rapporteur: Dolors Montserrat (Chair) – adopted on 20 September 2023;

     

    In 2023, the Committee on Petitions also adopted two opinions, as follows:

     

    – Opinion in form of a letter on Monitoring the application of European Union Law 2020, 2021 and 2022, 2023/2080(INI) PETI/9/12224 – Rapporteur: Loránt Vincze (EPP) – adopted on 20 September 2023;

    – Opinion in form of a letter on Establishing the European Disability Card and the European Parking Card for persons with disabilities, 2023/0311(COD) PETI/9/13175 – Rapporteur: Dolors Montserrat (EPP) – adopted on 29 November 2023;

     

    Finally, the committee adopted the following texts:

     

    – Amendments to the Budget 2024 – adopted on 18 July 2023.

    – Oral Question on Improving the strategic approach on the enforcement of EU Law 2023/2886(RSP) PETI/9/13266 – Rapporteur: Dolors Montserrat (Chair) – adopted on 24 October 2023.

     

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

    INFORMATION ON ADOPTION IN COMMITTEE RESPONSIBLE

    Date adopted

    8.4.2025

     

     

     

    Result of final vote

    +:

    –:

    0:

    16

    13

    4

    Members present for the final vote

    Peter Agius, Alexander Bernhuber, Damien Carême, Alma Ezcurra Almansa, Gheorghe Falcă, Chiara Gemma, Isilda Gomes, Sandra Gómez López, Cristina Guarda, Paolo Inselvini, Michał Kobosko, Sebastian Kruis, Murielle Laurent, Dolors Montserrat, Valentina Palmisano, Pina Picierno, Bogdan Rzońca, Pál Szekeres, Jana Toom, Nils Ušakovs, Ivaylo Valchev, Anders Vistisen, Maria Zacharia

    Substitutes present for the final vote

    Gordan Bosanac, Hana Jalloul Muro, Elena Nevado del Campo

    Members under Rule 216(7) present for the final vote

    Maravillas Abadía Jover, Adrian-George Axinia, Marieke Ehlers, Tomasz Froelich, Eleonora Meleti, Elena Sancho Murillo, Marion Walsmann

     

     

     

    FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

    16

    +

    ECR

    Bogdan Rzońca

    PPE

    Maravillas Abadía Jover, Peter Agius, Alexander Bernhuber, Alma Ezcurra Almansa, Gheorghe Falcă, Eleonora Meleti, Dolors Montserrat, Elena Nevado del Campo, Marion Walsmann

    PfE

    Marieke Ehlers, Sebastian Kruis, Pál Szekeres, Anders Vistisen

    Renew

    Michał Kobosko, Jana Toom

     

    13

    ESN

    Tomasz Froelich

    NI

    Maria Zacharia

    S&D

    Isilda Gomes, Sandra Gómez López, Hana Jalloul Muro, Murielle Laurent, Pina Picierno, Elena Sancho Murillo, Nils Ušakovs

    The Left

    Damien Carême, Valentina Palmisano

    Verts/ALE

    Gordan Bosanac, Cristina Guarda

     

    4

    0

    ECR

    Adrian‑George Axinia, Chiara Gemma, Paolo Inselvini, Ivaylo Valchev

     

    Key to symbols:

    + : in favour

     : against

    0 : abstention

    MIL OSI Europe News

  • MIL-OSI Europe: Press release – EP TODAY – Tuesday, 6 May

    Source: European Parliament

    EU response to US tariffs

    From 9:00, MEPs, Commissioner Šefčovič and Polish Minister for EU Affairs Szłapka will discuss how the EU should respond to the tariffs imposed by the US Administration. MEPs will consider the countermeasures adopted by the EU – which were later suspended – and review EU trade opportunities elsewhere in the world.

    Lieven COSIJN

    (+32) 473 86 41 41

    EPTrade

    MEPs’ priorities for the EU’s next long-term budget

    From around 13:00, Parliament will outline its demands and priorities for the EU’s next long-term budget (2028-2034), in a debate with Commissioner Serafin. MEPs are expected to call for a significantly more ambitious long-term budget to reflect EU citizens’ expectations amidst an increasingly complex global landscape. A resolution will be put to a vote by MEPs on Wednesday, followed by a press conference with the co-rapporteurs. An off-the-record technical briefing for journalists will take place on Tuesday after the debate, from 15:30 to16:30.

    Eszter ZALÁN

    (+32) 477 99 20 73

    EP Trade

    EP_Budgets

    Fast-tracking CO2 flexibility measures for car manufacturers: vote

    In a vote at noon, plenary will decide whether to apply its “urgent procedure” to proposed legislation giving car manufacturers more flexibility to comply with C02 emissions requirements. Ahead of the vote, there will be one round of statements from the political group representatives. If MEPs agree to fast-track the proposal, they will vote on its substance on Thursday.

    Dana POPP

    (+32) 470 95 17 07

    EP_Environment

    EP_PublicHealth

    Wolves: MEPs to vote on changing EU protection status

    At noon, MEPs will also decide on whether to apply the “urgent procedure” to draft legislation that would change the EU’s wolf protection status from ‘strictly protected’ to ‘protected’, aligning it with the Bern Convention. If the vote goes through, MEPs will vote on the substance of the proposal on Thursday.

    Thomas HAAHR

    (+32) 470 88 09 87

    EP_Environment

    MEPs to assess EU-Türkiye relations

    In the evening, MEPs and Commissioner Kos will review Türkiye’s accession progress and relations with the EU. The draft text – on which plenary will vote on Wednesday – states that Türkiye’s EU accession process cannot resume under the current circumstances, given the widening values gap between Türkiye and the EU. The rapporteur will hold a press conference on Wednesday morning ahead of the plenary vote.

    Snjezana KOBESCAK SMODIS

    (+32) 470 96 08 19

    EP_Democracy

    EP_ForeignAff

    Viktor ALMQVIST

    (+32) 470 88 29 42

    EP_ForeignAff

    EP_Defence

    EP_HumanRights

    In brief

    Kosovo and Serbia. In the evening, MEPs and Commissioner Kos will evaluate Kosovo and Serbia’s progress towards EU membership. The vote will take place on Wednesday, followed by a press conference.

    Water resilience strategy. In the early evening, Parliament and Commissioner Roswall will debate MEPs’ views on water resilience ahead of the European Commission’s strategy, due in July 2025. The vote is on Wednesday.

    Greenland. In a late afternoon debate with EU foreign policy chief Kaja Kallas, MEPs are expected to call for the protection of Greenland’s right to decide its own future.

    Budget discharge. From around 15:00, MEPs and Commissioner Serafin will assess the EU’s budget management for 2023, followed by votes on Wednesday.

    Votes

    At noon, MEPs will also vote, among other things, on

    • protecting the EU’s financial interests and combating fraud (2023 annual report);
    • the financial activities of the European Investment Bank (2023 annual report), and
    • EU aid worth €8 million for 2,400 dismissed workers in Belgium.

    Live coverage of the plenary session can be found on Parliament’s webstreaming site and on EbS+.

    For detailed information on the session, please also see our newsletter.

    Find more information regarding plenary.

    MIL OSI Europe News

  • MIL-OSI: Genie Energy Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Newark, NJ, May 06, 2025 (GLOBE NEWSWIRE) — Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the first quarter of 2025. 

    Michael Stein, Chief Executive Officer of Genie Energy, commented: 

    “Our first quarter featured strong operational and financial results, highlighted by robust increases in revenue, profitability and cash generation compared to the year ago quarter.

    “At GRE, the significant investments we made in 2024 to expand our customer base drove a year-over-year increase of over 48,000 net new meters. We ended the quarter with approximately 413,000 meters served comprising 402,000 RCEs. Customer base growth in combination with a stable pricing environment enabled GRE to generate an 18% increase in both revenue and income from operations compared to the year ago quarter.

    “At GREW, we continue to advance our utility-scale project pipeline including the construction of our first community solar project in Lansing, New York. The Lansing array is on track for completion as early as the third quarter of this year. We expect it will become EBITDA accretive immediately once online.”

    “During the first quarter, we again returned value directly to our stockholders, repurchasing approximately 127,000 shares and paying our regular quarterly dividend of $0.075 per share.”

    First Quarter 2025 Highlights
    (Unless otherwise noted, 1Q25 results are compared to 1Q24, and results of Genie Retail Energy International (GREI) are included in discontinued operations for all periods.) 

      Revenue increased 14.3% to $136.8 million from $119.7 million;
      Gross profit increased 10.6% to $37.4 million from $33.8 million. Gross margin decreased to 27.3% from 28.2%;
      Income from operations increased to $12.8 million from $9.8 million;
      Adjusted EBITDA1 increased to $14.4 million from $11.7 million;
      Net income attributable to Genie common stockholders and income per diluted share (EPS) attributable to Genie common stockholders of $10.6 million and $0.40 compared to $8.1 million and $0.30, respectively;
      Non-GAAP net income1 and non-GAAP EPS1 attributable to Genie common stockholders of $11.1 million and $0.42 compared to $8.9 million and $0.33, respectively;
      Cash and cash equivalents, short and long-term restricted cash, and marketable equity securities increased to $210.2 million at March 31, 2025;
      Genie repurchased approximately 127,000 shares of its Class B Common stock for $1.9 million during 1Q25;
      Genie will pay a $0.075 per share quarterly dividend to Class A and Class B common stockholders on May 30, 2025, with a record date of May 19, 2025.
         

    1 Adjusted EBITDA, Non-GAAP net income attributable to Genie Energy Ltd. common stockholders, and Non-GAAP EPS for all periods presented are non-GAAP measures intended to provide useful information that supplements the core operating results in accordance with GAAP for Genie Energy or the relevant segment. Please refer to the Reconciliation of Non-GAAP Financial Measures at the end of this release for an explanation of these non-GAAP metrics, as well as reconciliations to its most directly comparable GAAP measures.

    Select Financial Metrics

    (in millions except for EPS)*   1Q25     1Q24     Change  
    Total revenue   $ 136.8       $ 119.7         14.3   %
    Genie Retail Energy   $ 132.5       $ 112.5         17.8   %
    Electricity   $ 104.1       $ 89.4         16.4   %
    Natural gas    $ 28.4       $ 22.4         26.8   %
    Others   $ 0.0       $ 0.7         (99.6 ) %
    Genie Renewables    $ 4.3       $ 7.2         -40.0   %
    Gross margin      27.3   %     28.2   %     (90 ) bps
    Genie Retail Energy     27.1   %     28.6   %     (150 ) bps
    Genie Renewables     33.7   %     22.0   %     1,170   bps
    Income from operations   $ 12.8       $ 9.8         30.3   %
    Operating margin     9.4   %     8.2   %     120   bps
    Net income from continuing operations   $ 10.4       $ 8.4         23.4   %
    Loss attributable to discontinued operations, net of tax   $ (0.1 )     $ (0.3 )       (60.7 ) %
    Net income attributable to Genie common stockholders   $ 10.6       $ 8.1         30.9   %
    Diluted earnings per share   $ 0.40       $ 0.30        $ 0.10    
    Non-GAAP net income attributable to Genie common stockholders   $ 11.1       $ 8.9         24.7   %
    Non-GAAP diluted earnings per share   $ 0.42       $ 0.33       $ 0.09    
    Adjusted EBITDA   $ 14.4       $ 11.7         22.7   %
    Cash flow from continuing operating activities   $ 13.5       $ 8.7         55.1   %

    * Numbers may not add due to rounding

    Segment Highlights

    Genie Retail Energy (GRE)

    GRE’s first quarter revenue increased 17.8% to $132.5 million from $112.5 million last year. Income from operations increased 18.2% to $16.8 million from $14.2 million, and Adjusted EBITDA increased 17.1% to $17.1 million from $14.6 million. The increases primarily reflect the growth in GRE’s customer base and higher consumption per customer.

    GRE Operational Metrics

    (RCEs and Meters in thousands at end of period)*   1Q25     1Q24     Change    
    RCEs     402       348       15.6   %  
    Electricity     318       267       19.2   %  
    Natural gas     84       81       3.8   %  
    Meters     413       365       13.3   %  
    Electricity     325       281       15.6   %  
    Natural gas     88       83       5.4   %  
    Gross meter additions during the period     61       70       (12.8 ) %  
    Churn**     5.5 %     5.5 %       %  
      * Numbers may not add due to rounding
      ** Excludes the impacts of aggregation deal expirations
         

    Genie Renewables (GREW)

    GREW’s first quarter revenue decreased 40.0% to $4.3 million from $7.2 million in 1Q24, primarily reflecting Genie Solar’s exit from the commercial-scale projects business during the second half of 2024. 

    Diversegy, Genie’s energy brokerage business, increased revenue by 55% year-over-year, and contributed the significant majority of GREW revenues in 1Q25.

    GREW’s loss from operations increased to $0.9 million from $0.6 million in 1Q24.

    At March 31, 2025, Genie Solar’s operating portfolio and development pipeline comprised:

    Pipeline   Total   Operational   Site Control   Permitting   Construction
    MW   123   10   97   6   10
    Project count   18   1   14   1   2

    During the quarter, portfolio and pipeline net additions totaled 15 MW and 2 projects.

    Balance Sheet and Cash Flow Highlights

    As of March 31, 2025, Genie reported cash and cash equivalents, short and long-term restricted cash, and marketable equity securities of $210.2 million.

    Total assets as of March 31, 2025 were $384.4 million. Liabilities totaled $197.0 million, and working capital (current assets less current liabilities) totaled $121.2 million. 

    Cash provided by operating activities increased to $13.5 million in 1Q25 from $8.7 million in 1Q24.

    Trended Financial Information*

    (in millions except EPS)**     1Q24     2Q24     3Q24       4Q24       1Q25     2023       2024  
    Total Revenue     $ 119.7     $ 90.7     $ 111.9     $ 102.9     $ 136.8     $ 428.7     $ 425.2  
    Genie Retail Energy     $ 112.5     $ 86.7     $ 105.8     $ 98.4     $ 132.5     $ 409.9     $ 403.6  
    Electricity     $ 89.4     $ 78.3     $ 100.7     $ 82.1     $ 104.1     $ 350.8     $ 350.8  
    Natural gas     $ 22.4     $ 8.4     $ 5.1     $ 16.2     $ 28.4     $ 56.0     $ 52.1  
    Others     $ 0.7     $ 0.0     $ 0.1     $ 0.0     $ 0.0     $ 3.1     $ 0.7  
    Genie Renewables     $ 7.2     $ 4.0     $ 6.1     $ 4.5     $ 4.3     $ 18.8     $ 21.9  
    Gross Profit     $ 33.8     $ 33.3     $ 37.9     $ 33.5     $ 37.4     $ 146.2     $ 138.8  
    Genie Retail Energy     $ 32.2     $ 32.3     $ 35.8     $ 31.9     $ 35.9     $ 143.3     $ 132.4  
    Genie Renewables     $ 1.6     $ 1.1     $ 2.1     $ 1.5     $ 1.5     $ 2.8     $ 6.3  
    Gross Margin       28.2 %     36.8 %     33.9 %     32.5 %     27.3 %     34.1 %     32.6 %
    Genie Retail Energy       28.6 %     37.2 %     33.8 %     32.4 %     27.1 %     35.0 %     32.8 %
    Genie Renewables       22.0 %     26.8 %     34.9 %     33.9 %     33.7 %     15.1 %     29.0 %
    Income (loss) from operations     $ 9.8     $ 10.6     $ 11.7     $ (20.8 )   $ 12.8     $ 10.0     $ 11.3  
    Operating margin       8.2 %     11.6 %     10.4 %     (20.2 )%     9.4 %     2.3 %     2.7 %
    Net income (loss) attributable to Genie common stockholders     $ 8.1     $ 9.6     $ 10.2     $ (15.3 )   $ 10.6     $ 19.2     $ 12.6  
    Diluted earnings (loss) per share     $ 0.30     $ 0.36     $ 0.38     $ (0.58 )   $ 0.40     $ 0.74     $ 0.5  
    Adjusted EBITDA     $ 11.7     $ 12.0     $ 13.6     $ 11.1     $ 14.41     $ 58.2     $ 48.5  
      * Some Genie Retail Energy International (GREI) operations have been classified as a discontinued operation and their results excluded from current and historical results
      ** Numbers may not add due to rounding
         

    Earnings Announcement and Supplemental Information

    At 8:30 AM Eastern this morning, Genie Energy’s management will host a conference call to discuss the Company’s financial and operational results, business outlook, and strategy. The call will begin with management’s remarks, followed by Q&A with investors.

    To participate in the conference call, dial 1-877-545-0523 (toll-free from the US) or 1-973-528-0016 (international) and provide the following participant access code: 585907.

    Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 52352. The replay will remain available through Tuesday, May 20, 2025. In addition, a recording of the call will be available for playback on the “Investors” section of the Genie Energy website.

    About Genie Energy Ltd.

    Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division’s (GREW) holdings include Genie Solar, a vertically-integrated provider of community and utility-scale solar energy solutions, and Diversegy, an energy procurement advisor. For more information, visit Genie.com.

    In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

    Contact

    Bill Ulrey
    Investor Relations
    Genie Energy, Ltd.
    wulrey@genie.com

    GENIE ENERGY LTD.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except per share amounts)

        March 31,
    2025
        December 31,
    2024
     
                 
    Assets             
    Current assets:            
    Cash and cash equivalents (including amounts related to variable interest entity of $255 and $263 at March 31, 2025 and December 31, 2024, respectively)   $ 112,544     $ 104,456  
    Restricted cash—short-term     27,178       26,608  
    Marketable equity securities     405       357  
    Trade accounts receivable, net of allowance for doubtful accounts of $8,238 and $8,086 at March 31, 2025 and December 31, 2024, respectively (including amounts related to variable interest entity of $255 and $250 at March 31, 2025 and December 31, 2024, respectively)     64,218       61,858  
    Inventory      13,726       12,188  
    Prepaid expenses (including amounts related to variable interest entity of $130 and $307 at March 31, 2025 and December 31, 2024, respectively)     9,503       9,893  
    Other current assets     9,207       8,493  
    Current assets of discontinued operations     1,727       3,594  
    Total current assets     238,508       227,447  
    Restricted cash—long-term     70,104       69,580  
    Property and equipment, net     26,866       25,246  
    Goodwill     12,686       12,749  
    Other intangibles, net     2,275       2,367  
    Deferred income tax assets, net     7,045       7,055  
    Other assets (including amounts related to variable interest entity of $364 and $363 at March 31, 2025 and December 31, 2024, respectively)     22,305       22,365  
    Noncurrent assets of discontinued operations     4,589       4,466  
    Total assets   $ 384,378     $ 371,275  
    Liabilities and equity                
    Current liabilities:                
    Trade accounts payable     29,752       31,233  
    Accrued expenses (including amounts related to variable interest entity of $476 and $502 at March 31, 2025 and December 31, 2024, respectively)     52,497       48,793  
    Income taxes payable     13,596       9,196  
    Current captive insurance liability     9,236       9,120  
    Current debt, net     2,167       357  
    Due to IDT Corporation, net     136       135  
    Other current liabilities     6,227       6,393  
    Current liabilities of discontinued operations     3,706       4,585  
    Total current liabilities     117,317       109,812  
    Noncurrent captive insurance liability     70,104       69,580  
    Noncurrent debt, net     6,838       8,668  
    Other liabilities     2,022       2,959  
    Noncurrent liabilities of discontinued operations     707       705  
    Total liabilities     196,988       191,724  
    Commitments and contingencies            
    Equity:                
    Genie Energy Ltd. stockholders’ equity:                
    Preferred stock, $0.01 par value; authorized shares – 10,000:                
    Series 2012-A, designated shares – 8,750; at liquidation preference, consisting of 0 shares issued and outstanding at March 31, 2025 and December 31, 2024            
    Class A common stock, $0.01 par value; authorized shares – 35,000; 1,574 shares issued and outstanding at March 31, 2025 and December 31, 2024     16       16  
    Class B common stock, $0.01 par value; authorized shares -200,000 ; 29,324 and 29,310 shares issued and 25,336 and 25,482 shares outstanding at March 31, 2025 and December 31, 2024, respectively     293       293  
    Additional paid-in capital     159,981       159,192  
    Treasury stock, at cost, consisting of 3,988 and 3,828 shares of Class B common stock at March 31, 2025 and December 31, 2024     (39,835 )     (37,486 )
    Accumulated other comprehensive income     4,373       3,919  
    Retained earnings     73,178       64,574  
    Total Genie Energy Ltd. stockholders’ equity     198,006       190,508  
    Noncontrolling interests:                
    Noncontrolling interests     (9,833 )     (10,174 )
    Receivable for issuance of equity of a subsidiary     (783 )     (783 )
    Total noncontrolling interests     (10,616 )     (10,957 )
    Total equity     187,390       179,551  
    Total liabilities and equity   $ 384,378     $ 371,275  


    GENIE ENERGY LTD.

    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)

        Three Months Ended March 31,  
        2025     2024  
        (in thousands, except per share data)
    Revenues:            
    Electricity   $ 104,063     $ 89,396  
    Natural gas     28,409       22,398  
    Other     4,335       7,894  
    Total revenues     136,807       119,688  
    Cost of revenues     99,444       85,902  
    Gross profit     37,363       33,786  
    Operating expenses:                
    Selling, general and administrative (i)     23,887       22,901  
    Provision for captive insurance liability     645       1,036  
    Income from operations     12,831       9,849  
    Interest income     1,981       1,340  
    Interest expense     (189 )     (32 )
    Gain on marketable equity securities and other investments     168       117  
    Other income, net     (6 )     80  
    Income before income taxes     14,785       11,354  
    Provision for income taxes     (4,380 )     (2,920 )
    Net income from continuing operations     10,405       8,434  
    Loss from discontinued operations, net of taxes     (104 )     (265 )
    Net income     10,301       8,169  
    Net income (loss) attributable to noncontrolling interests, net     (329 )     46  
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10,630     $ 8,123  
                     
    Net income attributable to Genie Energy Ltd. common stockholders                
    Continuing operations   $ 10,734     $ 8,388  
    Discontinued operations     (104 )     (265 )
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10,630     $ 8,123  
                     
    Earnings (loss) per share attributable to Genie Energy Ltd. common stockholders:                
    Basic:                
    Continuing operations   $ 0.40     $ 0.31  
    Discontinued operations           (0.01 )
    Earnings per share attributable to Genie Energy Ltd. common stockholders   $ 0.40     $ 0.30  
    Diluted                
    Continuing operations   $ 0.40     $ 0.31  
    Discontinued operations           (0.01 )
    Earnings per share attributable to Genie Energy Ltd. common stockholders   $ 0.40     $ 0.30  
                     
    Weighted-average number of shares used in calculation of earnings per share:                
    Basic     26,338       26,790  
    Diluted     26,612       27,298  
                     
    Dividends declared per common share    $ 0.075     $ 0.075  
    (i) Stock-based compensation included in selling, general and administrative expenses   $ 739     $ 749  


    GENIE ENERGY LTD. 

    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited) 

        Three Months Ended March 31,  
        2025     2024    
        (in thousands)  
    Operating activities            
    Net income   $ 10,301     $ 8,169    
    Net loss from discontinued operations, net of tax     (104 )     (265 )  
    Net income from continuing operations     10,405       8,434    
    Adjustments to reconcile net income to net cash provided by operating activities:                
    Provision for captive insurance liability     645       1,036    
    Depreciation and amortization     235       219    
    Provision for doubtful accounts receivable     309       729    
    Stock-based compensation     739       749    
    Unrealized gain on marketable equity securities and investment and others, net     (171 )     (49 )  
    Inventory valuation allowance           417    
    Changes in assets and liabilities:                
    Trade accounts receivable     (2,668 )     1,093    
    Inventory     (1,538 )     (2,191 )  
    Prepaid expenses     390       581    
    Other current assets and other assets     (209 )     505    
    Trade accounts payable, accrued expenses and other liabilities     981       (5,694 )  
    Due to IDT Corporation, net     1       (25 )  
    Income taxes payable     4,400       2,914    
    Net cash provided by operating activities of continuing operations     13,519       8,718    
    Net cash provided by operating activities of discontinued operations     1,830       4,208    
    Net cash provided by operating activities     15,349       12,926    
    Investing activities                
    Capital expenditures     (1,773 )     (1,206 )  
    Improvement of investment property     (370 )        
    Purchase of solar system facility           (1,344 )  
    Purchases of marketable equity securities and other investment           (2,094 )  
    Purchase of equity of subsidiary           (1,200 )  
    Proceeds from return of investments     50          
    Net cash used in investing activities     (2,093 )     (5,844 )  
    Financing activities                
    Dividends paid     (2,026 )     (2,121 )  
    Repurchases of Class B common stock     (1,887 )     (4,101 )  
    Repurchases of Class B common stock from employees     (462 )     (1,508 )  
    Net cash used in financing activities     (4,375 )     (7,730 )  
    Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (80 )     74    
    Net increase (decrease) in cash, cash equivalents, and restricted cash     8,801       (574 )  
    Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at beginning of period     201,958       165,479    
    Cash, cash equivalents and restricted cash (including cash held at discontinued operations) at end of the period     210,759       164,905    
    Less: Cash of discontinued operations at end of period     933       2,886    
    Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at end of period   $ 209,826     $ 162,019    


    Reconciliation of Non-GAAP Financial Measures for the First Quarter of 2025

    In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), Genie Energy disclosed Adjusted EBITDA on a consolidated basis and for GRE and disclosed Non-GAAP Net Income Attributable to Genie Energy Ltd. Common Stockholders (Non-GAAP Net Income and Non-GAAP earnings per share (Non-GAAP EPS). Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS are non-GAAP financial measures.

    Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Genie’s measure of consolidated Adjusted EBITDA starts with income from operations and adds back depreciation, amortization, and stock-based compensation and deducts impairment of assets and equity in the net loss of equity method investees, net.

    Genie’s measure of Non-GAAP Net Income starts with net income attributable to Genie Energy Ltd. Common Stockholders in accordance with GAAP and adds captive insurance liability and the tax effect of this adjustment. These additions are non-cash and/or non-routine items in the relevant periods.

    Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS should be considered in addition to, not as a substitute for, or superior to, revenue, gross profit, income from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, Genie’s measurement of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS may not be comparable to similarly titled measures reported by other companies.

    Management believes that Genie’s measure of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS provide useful information to both management and investors by excluding certain expenses that may not be indicative of Genie’s or GRE’s core operating results. Management uses Adjusted EBITDA, non-GAAP Net Income and Non-GAAP EPS, among other measures, as relevant indicators of core operational strengths in its financial and operational decision-making.

    Management also uses Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS to evaluate operating performance in relation to Genie’s competitors. Disclosure of these non-GAAP financial measures may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, Genie Energy has historically reported Adjusted EBITDA and believes it is commonly used by readers of financial information in assessing performance. Therefore, the inclusion of comparative numbers provides consistency in financial reporting at this time.

    Management refers to Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS as well as the GAAP measures revenue, gross profit, and income from operations, as well as net income, on a consolidated level to facilitate internal and external comparisons to Genie’s historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

    Although depreciation and amortization are considered operating costs under GAAP, they primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. Genie’s operating results exclusive of depreciation and amortization are therefore useful indicators of its current performance.

    Stock-based compensation recognized by Genie Energy and other companies may not be comparable because of the various valuation methodologies, subjective assumptions, and the variety of types of awards that are permitted under GAAP. Stock-based compensation is excluded from Genie’s calculation of Adjusted EBITDA because management believes this allows investors to make more meaningful comparisons of the operating results of Genie’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for Genie Energy for the foreseeable future and an important part of employees’ compensation that impacts their performance. 

    Impairment of assets is a component of income (loss) from operations that is excluded from the calculation of Adjusted EBITDA. The impairment of assets is primarily dictated by events and circumstances outside the control of management that trigger an impairment analysis. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of Genie’s continuing operations. 

    Captive insurance liability is a non-cash charge incurred by Genie’s insurance operations. While there may be related charges in other periods, the magnitude of these changes can fluctuate markedly and do not reflect the performance of Genie’s continuing operations. Captive insurance losses are excluded from Genie’s calculation of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS because management believes this allows investors to make more meaningful comparisons of the operating results of Genie’s core business with the results of other companies. 

    Following are the reconciliations of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP EPS on a consolidated basis to its most directly comparable GAAP measure. Adjusted EBITDA is reconciled to income from operations for Genie Energy on a consolidated basis as well as for GRE. 

    Non-GAAP Reconciliation – Consolidated Adjusted EBITDA

    (in millions)    1Q23     2Q23     3Q23     4Q23     1Q24     2Q24      
    3Q24
        4Q24       1Q25     2023     2024  
    Income (loss) from operations   $ 11.3     $ 15.0     $ 17.9     $ (34.2 )   $ 9.8     $ 10.6     11.7       (20.8 )     12.8     $ 10.0     $ 11.3  
    Add back                                                                                        
    Captive insurance liability   $ 0.0     $ 0.0     $ 0.0     $ 45.1     $ 1.0     $ 0.6     $ 1.0       30.9       0.6     $ 45.1     $ 33.6  
    Depreciation and amortization   $ 0.1     $ 0.1     $ 0.1     $ 0.2     $ 0.2     $ 0.2     0.2       0.2       0.2     $ 0.5     $ 0.9  
    Non-cash compensation   $ 0.8     $ 0.8     $ 0.6     $ 0.5     $ 0.7     $ 0.5     0.6       0.6       0.7     $ 2.7     $ 2.3  
    Impairment   $ 0.0     $ 0.0     $ 0.0     $ 0.0     $ 0.0     $ 0.1     0.1       0.0       0     $ 0.0     $ 0.2  
    Equity in net loss (income) of equity method investees   $ 0.2     $ (0.1 )   $ (0.1 )   $ (0.1 )   $ (0.1 )   $ 0.0     0.0       0.1       0.0     $ (0.1 )   $ 0.2  
    Adjusted EBITDA   $ 12.4     $ 15.8     $ 18.5     $ 11.5     $ 11.7     $ 12.0     13.6       11.1       14.4     $ 58.2     $ 59.5  


    Non-GAAP Reconciliation – GRE Adjusted EBITDA

    (in millions)   1Q25     1Q24     2024     2023  
    Income from operations   $ 16.8     $ 14.2     $ 56.5     $ 71.9  
    Add back                                
    Depreciation and amortization   $ 0.1     $ 0.1     $ 0.3     $ 0.3  
    Stock-based compensation   $ 0.3     $ 0.2     $ 1.1     $ 1.0  
    Impairment   $ 0.0     $ 0.0     $ 0.0     $ 0.0  
    Equity in the income of equity method investees   $ (0.1 )   $ 0.0     $ 0.5     $ 0.0  
    Adjusted EBITDA   $ 17.1     $ 14.6     $ 58.4     $ 73.3  

     Non-GAAP Reconciliation – Consolidated Non-GAAP Net Income Attributable to Genie Energy Ltd. Common Stockholders and Non-GAAP Diluted Income Per Share

    (in millions except for EPS)   1Q25     1Q24     2024     2023  
    Net income attributable to Genie Energy Ltd. common stockholders   $ 10.6     $ 8.1     $ 12.6     $ 19.2  
    Add back                                
    Captive insurance liability   $ 0.6     $ 1.0     $ 33.6     $ 45.1  
    Income tax effect of adjustment   $ (0.2 )     (0.3 )   $ (8.8 )   $ (10.5 )
    Non-GAAP net income attributable to Genie Energy Ltd. common stockholders   $ 11.1     $ 8.9     $ 37.4     $ 53.7  
                                     
    Diluted earnings per share   $ 0.40     $ 0.30     $ 0.46     $ 0.74  
    Total adjustments   $ 0.02     $ 0.03     $ 0.91     $ 1.33  
    Non-GAAP diluted earnings per share   $ 0.42     $ 0.33     $ 1.38     $ 2.06  
                                     
    Weighted average number of shares used in the calculation of diluted earnings per share     26.6       27.3       27.2       26.1  

    # # #

    The MIL Network

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on BIGY ($0.4609) and SOXY ($0.4384)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Target 12™ ETFs listed in the table below. The Fund seeks to generate income with a 12% target annual income level.

    ETF
    Ticker
    1
    ETF Name Distribution Frequency Distribution per Share Distribution
    Rate
    2
    30-Day
    SEC Yield3
    ROC4 Ex-Date & Record Date Payment
    Date
    BIGY YieldMax™ Target 12™ Big 50 Option Income ETF Monthly   $0.4609 12.00% 0.18% 66.89% 5/7/25 5/8/25
    RNTY* YieldMax™ Target 12™ Real Estate Option Income ETF Monthly  
    SOXY YieldMax™ Target 12™ Semiconductor Option Income ETF Monthly $0.4384 12.00% 0.12% 100.00% 5/7/25 5/8/25
                     

    You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    *The inception date for RNTY is April 16, 2025.

    1Each ETF’s strategy will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF.

    2The Distribution Rate shown is as of close on May 5, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended April 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For BIGY, click here. For SOXY, click here. For RNTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Important Information
    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network

  • MIL-OSI United Kingdom: Boost for woodlands as research to tackle plant pests & diseases

    Source: United Kingdom – Executive Government & Departments

    Press release

    Boost for woodlands as research to tackle plant pests & diseases

    Key research to combat ongoing pest and disease outbreaks and emerging threats to protect our trees

    British woodlands and trees will benefit from new research aimed at boosting protection against pests and diseases, announced today (Tuesday 6 May).

    Our plants and trees are estimated to contribute £4.1 billion per year to the UK’s economy – their vast canopies are teeming with birds and insects, they help mitigate the impact of flooding for communities across the country, trees outside woodland in towns as well as rural areas are cherished by the British people. But our trees are vulnerable, with plant pests and diseases posing a significant threat to nature and the economy.

    The threat from pests and diseases is growing due to factors like climate change, and it is increasingly important to plant resilient trees that can withstand warmer temperatures so people and nature can enjoy the widespread benefits they bring.

    17 new research projects will improve tree health and resilience through the Centre for Forest Protection – a collaboration between Forest Research and Royal Botanic Gardens, Kew – as part of the Government’s Plan for Change.

    These will help plant and protect treescapes that are resilient to stresses including climate change and pests and diseases such as ash dieback, which has been estimated to kill over 100 million trees in the UK and cost the economy up to £15 billion to Great Britain over the coming decades.

    The £4 million of funding will include projects to facilitate future tree breeding for resilience to ash dieback and a fungal disease affecting Scots pine, and new technologies so trees can flower at a younger age to accelerate breeding programmes.

    Professor Nicola Spence, Defra’s Chief Plant Health Officer, said:

    “Tackling the growing threat from plant pests and diseases due to climate change is critical to protect the long-term health and resilience of our trees.

    “Expanding our research efforts and work to restore native ash trees are an important step in the fight against diseases which devastate our nations woodlands, protecting trees for the benefits they bring to our climate and for people’s enjoyment.”

    Dr Louise Gathercole, Centre for Forest Protection Coordinator, said:

    “At Forest Research and Royal Botanic Gardens, Kew, we are delighted to continue our collaboration under the Centre for Forest Protection.

    “Funding this virtual centre gives us the opportunity to leverage the expertise and resources of both organisations, along with a wide range of other collaborators, to carry out innovative science and produce the evidence needed for future woodland resilience.”

    Projects for 2025/26 include:

    • Dodging the double whammy, looking into whether trees resilient to ash dieback can also help avoid damage from Emerald Ash Borer, an exotic emerald coloured beetle from Asia which has caused significant damage to ash trees in North America.
    • Infusing resilience into the Scots pine genetic resource, breeding pine trees resilience to Dothistroma needle blight, a fungal disease which can reduce timber yields and even cause tree death.
    • Developing novel methods to understand and mitigate grey squirrel bark stripping behaviour, on the impact of invasive grey squirrels on woodlands – with an estimated economic cost of £37 million annually – and how to combat bark stripping behaviour, which disincentivises tree planting and leaves trees susceptible to increased risk of disease.

    As part of £700,000 of Defra-funded research, a second UK ash tree archive in Scotland has now been planted aimed at increasing resilience and further developing efforts for a breeding programme of tolerant UK ash. This is a key step towards restoring native ash back to our landscape. 

    2500 young trees have now been planted over the 1-hectare site. These trees have been specially selected as showing signs of potential resistance to the disease. Over the coming years, the less healthy individuals will be weeded out, allowing for the best trees to form a potential seed orchard for resistant ash seed production in future.

    This follows over 3000 trees of tolerant ash being planted at the first ash archive site in southern England in 2019. Screening for tolerant trees in a different climate away from other threats will significantly boost research efforts. Identifying ash with a high tolerance to the disease will enable the development of orchards producing commercially available seed and prove transformative to our future landscapes.

    The announcement marks the launch of this year’s National Plant Health Week (5-12 May 2025), an annual designated week of action to raise public awareness and engagement on how to keep our plants healthy, led by Defra in partnership with 32 organisations, including the Royal Horticultural Society, the Woodland Trust and the Horticultural Trades Association

    Additional information:

    • The second ash archive is funded by Defra on an estate owned by Forestry Land Scotland in Clackmannanshire.
    • The Centre for Forest Protection is a collaborative, virtual hub which aims to protect our trees from environmental and socioeconomic threats, through innovative science, interdisciplinary research, expert advice and training. The CFP is led by Forest Research – Great Britain’s principal organisation for forestry and tree-related research – and Royal Botanic Gardens, Kew, whose mission is to understand and protect plants and fungi, for the well-being of people and the future of all life on Earth.

    The 17 new research projects are:

    • Dodging the Double Whammy: Does Resistance to Ash Dieback Help European Ash Avoid Damage by Emerald Ash Borer?
    • Knowledge synthesis: How trees evolve under novel conditions
    • SUPPoRT: Sustainable Plant Provenancing for Resilient Trees
    • Genomic basis of ash health after five and thirteen years’ exposure to ash dieback
    • Complex Yew Decline Research
    • ADGROW: Applied Dendrochronology for the Genomic Resilience Of Woodlands
    • EXPLORATION: Assessing the robustness of mixed species planting as a drought adaptation measure during early stage establishment – an experimental approach
    • Enhancing forest resilience through stand structural complexity
    • Infusing resilience into the Scots pine genetic resource
    • Phenology, Genomics, and Non-Destructive Testing: A Comprehensive Approach to Detecting, Understanding, and Reducing Oak Shake (PhenoGenDT)
    • Speed breeding technologies for UK broadleaved trees
    • Forest Sector Modelling of the Impact of Biotic and Abiotic Risks on Forest Resilience
    • Developing novel methods to understand and mitigate grey squirrel bark stripping behaviour
    • Supporting farmers’ on-farm integration of tree resilience actions
    • REWARD, Remote Early Warning and Advanced Response for Diseases.
    • The wind within the trees: understanding cultural, silvicultural, and timber quality dimensions to windstorm risks and impacts
    • Resilience to compound abiotic and biotic stress in native Scots Pine

    Updates to this page

    Published 6 May 2025

    MIL OSI United Kingdom

  • MIL-OSI: Enlight Renewable Energy Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted

    TEL AVIV, Israel, May 06, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the first quarter of 2025 ending March 31, 2025. Registration links for the Company’s earnings English and Hebrew conference call and webcasts can be found at the end of this earnings release.

    Financial Highlights

    3 months ending March 31, 2025

    • Revenues and income of $130m, up 39% year over year
    • Adjusted EBITDA1 of $132m, up 84% year over year
    • Net income of $102m, up 316% year over year
    • Cash flow from operations of $44m, up 24% year over year
      For the three months ended
     ($ millions) 31/03/2025 31/03/2024 % change
    Revenues and Income 130 94 39%
    Net Income 102 24 316%
    Adjusted EBITDA 132 72 84%
    Cash Flow from Operating Activities 44 35 24%

    ________________________
    1 The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2

    • In January 2025, the Company announced the sale of 44% of the Sunlight cluster of renewable energy projects in Israel for a consideration of $52m at a valuation of $119m, and deconsolidated the cluster from its balance sheet. The transaction added $42m to Adjusted EBITDA (actual consideration received less the book value of the associated assets) and $80m to net profit in the 1Q25 results.
    • A detailed analysis of financial results appears below

    Impact of U.S. Tariffs on the Company’s Operations

    Enlight’s procurement strategy has effectively mitigated significant exposure to increased U.S. import tariffs. The agreements and good relationships we have with our supply chain partners allow for a significant distribution of the impact of tariffs.

    Costs

    • Solar panels for projects under construction are either domestically constructed or sourced from outside China and carry no tariff exposure
    • 80% of battery capacity for projects under construction is supplied by Tesla, a supplier with high levels of domestic U.S. manufacturing

    Revenues

    • Negotiations for PPA price adjustments are now underway to account for higher tariff-related construction costs

    “Enlight showed strong financial results for 1Q25, including 84% growth in Adjusted EBITDA and a 316% rise in net profit,” said Gilad Yavetz, CEO of Enlight Renewable Energy.

    “The introduction of U.S. tariffs underscores how Enlight’s diversified procurement strategy in this market over the past two years has proven itself, effectively shielding us from cost increases. As a result, our U.S. projects now under construction, with total capex of $1.7bn, have no solar panel exposure under the current tariff policy. Selecting Tesla as our primary storage supplier further strengthens this position – its substantial levels of U.S. manufacturing offer greater tariff protection than other battery suppliers.

    “Securing $1.8bn in financing over recent months marks a significant milestone, and was achieved through three financial closings, a sale of a stake in the Sunlight cluster to institutional investors, and a successful bond issuance. This funding will enable the launch of our aggressive plan to begin construction on 4.7 FGW of capacity in 2025. Combined with our existing operating portfolio, these projects represent 90% of the capacity required to reach an annual revenue and income run rate of $1.4bn by 2027.”

    Portfolio Review

    • Enlight’s total portfolio is comprised of 19.2 GW of generation capacity and 49.8 GWh storage (33.4 FGW2)
    • Of this, the Mature portfolio component (including operating projects, projects under construction or pre-construction) contains 6.1 GW generation capacity and 8.8 GWh of storage (8.6 FGW)
    • Within the Mature portfolio component, the operating component has 2.5 GW of generation capacity and 1.9 GWh of storage (3.0 FGW)

    The full composition of the portfolio appears in the following table:

    Component Status FGW2 Annual revenues &
    income run rate ($m)
    Operating Commercial operation 3.0 ~5003
    Under Construction Under construction 1.8 ~305
    Pre-Construction 0-12 months to start of construction 3.8 ~615
    Total Mature Portfolio Mature 8.6 1,420~
    Advanced Development 13-24 months to start of construction 7
    Development 2+ years to start of construction 17.8
    Total Portfolio   33.4

    ________________________
    2 FGW (Factored GW) is a consolidated metric combining generation and storage capacity into a uniform figure based on the ratio of construction costs. The company’s current weighted average construction cost ratio is 3.5 GWh of storage per 1 GW of generation: FGW = GW + GWh / 3.5
    3 Based on the midpoint of 2025 guidance.

    • Operating component of the portfolio: 3 FGW
      • The operational portfolio totals 3 GW of capacity is spread over three regions: 44% of the capacity is located in 7 European countries, 29% is located in Israel, and 27% in the U.S.
      • 81% of the operational capacity sells electricity under PPA agreements, with 29% of the power sold under inflation-linked PPAs.
      • The operational portfolio generates annualized revenues and income of approximately $500 million.
         
    • Under Construction component of the portfolio: 1.8 FGW
      • Consists of three projects in the U.S. with a total capacity of 1.4 FGW; the Gecama Solar project in Spain with a capacity of 0.3 FGW; the solar and storage cluster in Israel; and the addition of storage capacity at project Bjornberget in Sweden. Approximately half of the cluster is expected to reach COD in 2025, with the rest expected to commission in 2026.
      • Projects under construction are expected to contribute $305m to the annual revenues and income run rate during their first full year of operation
         
    • Pre-construction component of the portfolio: 3.8 FGW
       
      • Two mega projects in the U.S., Snowflake and CO Bar, with a combined capacity of 2.6 FGW will begin construction in 2025 and are expected to contribute $455m to revenues and income on an annualized basis.
      • Nardo, a stand alone storage project in Italy with a capacity of 0.25 FGW, is expected to begin construction in 2H25. The Pre-construction portion of the Mature portfolio includes additional projects in Israel, Hungary, and the US with a combined capacity of 0.9 FGW.
      • Pre-construction projects are expected to contribute $615m in revenues and income in their first full year of operations.

        The under construction and pre-construction projects are expected to reach COD by the end of 2027, which is expected to boost operating capacity to 8.6 FGW and the annualized revenue and income run rate to $1.4bn.

    • Advanced Development component of the portfolio component: 7 FGW
      • 5.7 FGW in the U.S., with 100% of the capacity having passed completion of the System Impact Study, the most important study of the grid connection process, significantly de-risking the portfolio.
      • The U.S. pipeline includes several mega-projects, including the 1.4 FGW Cedar Island facility in Oregon and the 1.1 FGW Blackwater project in Virginia.
      • The U.S. portfolio includes several follow-ons to Mature projects, such as Atrisco 2 (0.7 FGW), the energy storage expansion at CO-Bar (0.9 FGW), and Snowflake B (1.3 FGW).
      • These projects reflect the Company’s “Connect and Expand” strategy, leveraging existing grid infrastructure with the development of new ones, thereby reducing construction costs and project risks while improving project returns.
      • 0.7 FGW in Europe, focused on Italy, Spain, and Croatia.
      • 0.6 FGW in MENA, focused on solar and storage projects and stand alone storage facilities, including approximately 0.4 FGW that won availability tariffs as part of the Israel Electricity Authority’s first high voltage storage availability tariff tender.
         
    • Development component of the portfolio: 17.8 FGW
      • 12 FGW in the U.S. with broad geographic presence, including the PJM, WECC, SPP and MISO regions. The storage portion of the US portfolio has grown by 5.6 FGW to reflect greater demand for energy storage in this region.
      • 3 FGW in Europe, focused on Italy, Spain, Croatia and entry into stand-alone storage operations in Poland.
      • 2.8 FGW in MENA, focused on solar combined storage projects and stand-alone storage facilities.

    Mature Portfolio Components Expected to Generate Annualized Revenues and Income of ~$1.4bn4,5

    ________________________
    4 Projection based on 2025 guidance, adding on total revenues and income (sales of electricity and tax benefits) of under construction and pre-construction projects
    5 The company’s revenues from tax benefits are estimated at approximately 20-24% of the total revenue run rate for December 2025; approximately 22-26% of the total revenue run rate for December 2026, and approximately 26-30% of the total revenue run rate for December 2027

    Financing Activities

    • During the quarter, the Company secured $1bn in financial closings for the Country Acres and Quail Ranch projects, representing 830 FMW of combined capacity.
    • Along with the financial close on the 560 FMW Roadrunner project in December 2024, the financing for the second wave of U.S. projects in now complete, with a total of $1.5bn raised.
    • Raising $245m through the sale of Series G and H bonds to finance the Company’s growth.
    • Sale of 44% of the Sunlight cluster for $52m cash at a valuation of $119m, generating Adjusted EBITDA of $42m (actual consideration received less associated book value of assets) and a pre-tax profit of $97m.
    • As of the balance sheet date, the Company maintained $350m of revolving credit facilities, of which none have been drawn.

    2025 Guidance

    Construction and commissioning

    • Expected commissioning of 0.9 FGW of capacity, which is expected to add approximately $148-152m to annualized revenues and income and $129-133m annualized EBITDA, starting in 2026.
    • Starting construction on 2.9 FGW of capacity, which is expected to add approximately $487-495m in annualized revenues and income and approximately $428-436m in annualized EBITDA gradually through 2026-2027.

    Financial guidance

    • Total revenues and income6 for 2025 are expected to range between $490m and $510m. Of the projected revenues and income, 38% are expected to be denominated in ILS, 35% in EUR, and 27% in USD.
    • Adjusted EBITDA7 for 2025 is expected to range between $360m and $380m.
    • Approximately 90% of the electricity volumes expected to be generated in 2025 will be sold at fixed prices through PPAs or hedges.

    ________________________
    6 Total revenues and income include revenues from the sale of electricity along with income from tax benefits from US projects amounting to $60m-80m.
    7 EBITDA is a non-IFRS financial measure. The Company is unable to provide a reconciliation of EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2.

    Financial Results Analysis

    Revenues & Income by Segment
    ($ millions) For the three months ended  
    Segment 31/03/2025 31/03/2024 % change
    MENA 42,867 28,474 51%
    Europe 51,384 59,160 (13%)
    U.S. 34,789 4,495 674%
    Other 829 1,532 (46%)
    Total Revenues & Income 129,869 93,661 39%


    Revenues & Income

    In the first quarter of 2025, the Company’s total revenues and income increased to $130m, up from $94m last year, a growth rate of 39% year over year. This was composed of revenues from the sale of electricity, which rose 21% to $110m compared to $90m in the same period of 2024, as well as recognition of $20m in income from tax benefits, up 516% compared to $3m in 1Q24.

    The Company benefited from the revenues and income contribution of newly operational projects. Since the first quarter of last year, 576 MW and 1,526 MWh of new projects were connected to the grid and began selling electricity, including seven of the Israel Solar and Storage Cluster units in Israel, Atrisco in the U.S, Pupin in Serbia, and Tapolca in Hungary. The most important increases in revenue from the sale of electricity originated at Atrisco, which added $13m, followed by the Israel Solar and Storage Cluster, with $11m, while Pupin contributed $6m. In total, new projects contributed $30m to revenues from the sale of electricity.

    Offsetting this growth, the amount of electricity generated at our wind projects operating in Europe was lower compared to the same period last year mainly due to weaker wind volumes. In addition, generation at project Bjornberget in Sweden this quarter fell compared to last year due to a blade malfunction experienced at one of the site’s turbines. This prompted a complete shutdown of the wind farm, which is now in the process of gradually resuming operations. The Company recognized compensation of $4m from Bjornberget’s operating contractor in lieu of the lost revenues, which is recorded in other income.

    Revenues and income were distributed between MENA, Europe, and the US, with 34% denominated in Israeli Shekel, 39% in Euros, and 27% denominated in US Dollars.

    Net Income

    In the first quarter of 2025, the Company’s net income amounted to $102m compared to $24m last year, an increase of 316% year over year. This increase stems from the $28m increase in revenues and income and $80m profit from the partial sale of the Sunlight cluster. This was offset by higher total operating expenses of $17m and net financial expenses of $10m (all after tax).

    Adjusted EBITDA8

    The Company’s Adjusted EBITDA grew by 84% to $132m in the first quarter of 2025, compared to $72m for the same period in 2024. Of this increase, $36m was driven by the factors described in the Revenues and Income section. The partial sale of the Sunlight cluster contributed $42m, representing the actual consideration received less the book value of the associated assets. Offsetting this growth was an increase of $11m in COGS linked to the addition of new projects, and an increase of $4m in operating expenses. Adjusting for the effects of this transaction, 1Q25 Adjusted EBITDA grew by 25% year-on-year to $90m.

    ________________________
    8 Adjusted EBITDA is a non-IFRS measure. Please see the appendix of this presentation for a reconciliation to Net Income

    Conference Call Information

    Enlight plans to hold its First Quarter 2025 Conference Call and Webcasts on Tuesday, May 6, 2025 to review its financial results and business outlook in both English and Hebrew. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by dial-in or webcast:

    Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.

    The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

    Supplemental Financial and Other Information

    We intend to announce material information to the public through the Enlight investor relations website at https://enlightenergy.co.il/info/investors, SEC filings, press releases, public conference calls, and public webcasts. We use these channels to communicate with our investors, customers, and the public about our company, our offerings, and other issues. As such, we encourage investors, the media, and others to follow the channels listed above, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page of our website.

    Non-IFRS Financial Measures

    This release presents Adjusted EBITDA, a financial metric, which is provided as a complement to the results provided in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). A reconciliation of the non-IFRS financial information to the most directly comparable IFRS financial measure is provided in the accompanying tables found at the end of this release.

    We define Adjusted EBITDA as net income (loss) plus depreciation and amortization, share based compensation, finance expenses, taxes on income and share in losses of equity accounted investees and minus finance income and non-recurring portions of other income, net. For the purposes of calculating Adjusted EBITDA, compensation for inadequate performance of goods and services procured by the Company are included in other income, net. Compensation for inadequate performance of goods and services reflects the profits the Company would have generated under regular operating conditions and is therefore included in Adjusted EBITDA. With respect to gains (losses) from asset disposals, as part of Enlight’s strategy to accelerate growth and reduce the need for equity financing, the Company sells parts of or the entirety of selected renewable project assets from time to time, and therefore includes realized gains or losses from these asset disposals in Adjusted EBITDA. In the case of partial assets disposals, Adjusted EBITDA includes only the actual consideration less the book value of the assets sold. Our management believes Adjusted EBITDA is indicative of operational performance and ongoing profitability and uses Adjusted EBITDA to evaluate the operating performance and for planning and forecasting purposes.

    Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus comparable financial measures determined under IFRS. For example, other companies in our industry may calculate the non-IFRS financial measures that we use differently or may use other measures to evaluate their performance. All of these limitations could reduce the usefulness of our non-IFRS financial measures as analytical tools. Investors are encouraged to review the related IFRS financial measure, Net Income, and the reconciliations of Adjusted EBITDA provided below to Net Income and to not rely on any single financial measure to evaluate our business.

    Special Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s business strategy and plans, capabilities of the Company’s project portfolio and achievement of operational objectives, market opportunity, utility demand and potential growth, discussions with commercial counterparties and financing sources, pricing trends for materials, progress of Company projects, including anticipated timing of related approvals and project completion and anticipated production delays, the Company’s future financial results, expected impact from various regulatory developments and anticipated trade sanctions, expectations regarding wind production, electricity prices and windfall taxes, and Revenues and Income and Adjusted EBITDA guidance, the expected timing of completion of our ongoing projects, and the Company’s anticipated cash requirements and financing plans , are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.

    These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives or benefits for, or regulations mandating the use of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”), as may be updated in our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    About Enlight

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023.

    Company Contacts

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Appendix 1 – Financial information

    Consolidated Statements of Income    
        For the three months ended at
    March 31
        2025   2024(*)
        USD in   USD in 
        Thousands   Thousands
             
    Revenues   109,758   90,397
    Tax benefits   20,111   3,264
    Total revenues and income   129,869   93,661
             
    Cost of sales (**)   (26,638)   (15,436)
    Depreciation and amortization   (33,789)   (25,604)
    General and administrative expenses   (11,846)   (8,859)
    Development expenses   (2,564)   (2,418)
    Total operating expenses   (74,837)   (52,317)
    Gains from projects disposals   97,262   27
    Other income (expenses), net   (1,105)   1,517
    Operating profit   151,189   42,888
             
    Finance income   6,695   8,065
    Finance expenses   (30,203)   (19,493)
    Total finance expenses, net   (23,508)   (11,428)
             
    Profit before tax and equity loss   127,681   31,460
    Share of losses of equity accounted investees   (1,227)   (144)
    Profit before income taxes   126,454   31,316
    Taxes on income   (24,651)   (6,831)
    Profit for the period   101,803   24,485
             
    Profit for the period attributed to:        
    Owners of the Company   94,458   16,763
    Non-controlling interests   7,345   7,722
        101,803   24,485
    Earnings per ordinary share (in USD) with a par value of        
    NIS 0.1, attributable to owners of the parent Company:        
    Basic earnings per share   0.80   0.14
    Diluted earnings per share   0.75   0.14
    Weighted average of share capital used in the        
    calculation of earnings:        
    Basic per share   118,783,541   117,963,310
    Diluted per share   125,316,177   122,889,909
             

    (*) The Consolidated Statements of Income have been adjusted to present comparable information for the previous period. For additional details please see Appendix 8.
    (**) Excluding depreciation and amortization.

    Consolidated Statements of Financial Position as of        
             
        March 31   December 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
    Assets        
             
    Current assets        
    Cash and cash equivalents   449,530   387,427
    Restricted cash   82,692   87,539
    Trade receivables   73,125   50,692
    Other receivables   71,475   99,651
    Other financial assets   405   975
    Assets of disposal groups classified as held for sale     81,661
    Total current assets   677,227   707,945
             
    Non-current assets        
    Restricted cash   59,964   60,802
    Other long-term receivables   62,092   61,045
    Deferred costs in respect of projects   392,119   357,358
    Deferred borrowing costs   61   276
    Loans to investee entities   32,329   18,112
    Investments in equity accounted investees   49,303  
    Fixed assets, net   3,961,021   3,699,192
    Intangible assets, net   293,035   291,442
    Deferred taxes assets   8,023   10,744
    Right-of-use asset, net   210,739   210,941
    Financial assets at fair value through profit or loss   74,555   69,216
    Other financial assets   63,903   59,812
    Total non-current assets   5,207,144   4,838,940
             
    Total assets   5,884,371   5,546,885
             
    Consolidated Statements of Financial Position as of (Cont.)        
             
        March 31   December 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
    Liabilities and equity        
             
    Current liabilities        
    Credit and current maturities of loans from banks and other financial institutions   207,662   212,246
    Trade payables   167,765   161,991
    Other payables   101,928   107,825
    Current maturities of debentures   23,049   44,962
    Current maturities of lease liability   10,192   10,240
    Other financial liabilities   5,777   8,141
    Liabilities of disposal groups classified as held for sale     46,635
    Total current liabilities   516,373   592,040
             
    Non-current liabilities        
    Debentures   549,517   433,994
    Other financial liabilities   118,891   107,865
    Convertible debentures   232,536   133,056
    Loans from banks and other financial institutions   2,024,315   1,996,137
    Loans from non-controlling interests   79,081   75,598
    Financial liabilities through profit or loss   25,985   25,844
    Deferred taxes liabilities   62,310   41,792
    Employee benefits   1,092   1,215
    Lease liability   209,958   211,941
    Deferred income related to tax equity   387,943   403,384
    Asset retirement obligation   85,141   83,085
    Total non-current liabilities   3,776,769   3,513,911
             
    Total liabilities   4,293,142   4,105,951
             
    Equity        
    Ordinary share capital   3,323   3,308
    Share premium   1,028,528   1,028,532
    Capital reserves   49,890   25,273
    Proceeds on account of convertible options   25,083   15,494
    Accumulated profit   202,377   107,919
    Equity attributable to shareholders of the Company   1,309,201   1,180,526
    Non-controlling interests   282,028   260,408
    Total equity   1,591,229   1,440,934
    Total liabilities and equity   5,884,371   5,546,885
             
    Consolidated Statements of Cash Flows        
             
        For the three months ended
    at March 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
             
    Cash flows for operating activities        
    Profit for the period   101,803   24,485
             
    Income and expenses not associated with cash flows:        
    Depreciation and amortization   33,789   25,604
    Finance expenses, net   22,388   11,486
    Share-based compensation   1,710   3,117
    Taxes on income   24,651   6,831
    Tax benefits   (20,111)   (3,264)
    Other income (expenses), net   1,105   (134)
    Company’s share in losses of investee partnerships   1,227   144
    Gains from projects disposals   (97,262)   (27)
        (32,503)   43,757
             
    Changes in assets and liabilities items:        
    Change in other receivables   (856)   (2,142)
    Change in trade receivables   (20,376)   (16,909)
    Change in other payables   8,604   (539)
    Change in trade payables   7,802   71
        (4,826)   (19,519)
             
    Interest receipts   2,512   2,928
    Interest paid   (22,298)   (15,624)
    Income Tax paid   (1,075)   (798)
             
    Net cash from operating activities   43,613   35,229
             
    Cash flows for investing activities        
    Sale (Acquisition) of consolidated entities, net   36,223   (1,388)
    Changes in restricted cash and bank deposits, net   8,176   (4,988)
    Purchase, development, and construction in respect of projects   (255,862)   (199,733)
    Loans provided and Investment in investees   (7,430)   (11,284)
    Repayments of loans from investees   30,815  
    Payments on account of acquisition of consolidated entity   (7,447)   (10,851)
    Purchase of financial assets measured at fair value through profit or loss, net   (3,040)   (8,409)
    Net cash used in investing activities   (198,565)   (236,653)
             
    Consolidated Statements of Cash Flows (Cont.)      
        For the three months ended at March 31
        2025   2024
        USD in   USD in
        Thousands   Thousands
             
    Cash flows from financing activities        
    Receipt of loans from banks and other financial institutions   143,578   71,371
    Repayment of loans from banks and other financial institutions   (108,922)   (10,448)
    Issuance of debentures   125,838  
    Issuance of convertible debentures   114,685  
    Repayment of debentures   (21,994)   (1,284)
    Dividends and distributions by subsidiaries to non-controlling interests     (108)
    Deferred borrowing costs   (35,199)   (2,682)
    Repayment of loans from non-controlling interests     (955)
    Increase in holding rights of consolidated entity   (1,392)  
    Exercise of share options   11  
    Repayment of lease liability   (4,058)   (3,671)
    Proceeds from investment in entities by non-controlling interest   7,732   152
             
    Net cash from financing activities   220,279   52,375
             
    Increase (Decrease) in cash and cash equivalents   65,327   (149,049)
             
    Balance of cash and cash equivalents at beginning of period   387,427   403,805
             
    Effect of exchange rate fluctuations on cash and cash equivalents   (3,224)   (4,905)
             
    Cash and cash equivalents at end of period   449,530   249,851
             


    Information related to Segmental Reporting

      For the three months ended at March 31, 2025
      MENA(**)   Europe(**)  

    USA

      Total reportable segments   Others   Total
      USD in thousands
    Revenues 42,867   51,384   14,678   108,929   829   109,758
    Tax benefits     20,111   20,111     20,111
    Total revenues and income 42,867   51,384   34,789   129,040   829   129,869
                           
    Segment adjusted EBITDA 68,017   44,663   30,549   143,229   81   143,310
         
    Reconciliations of unallocated amounts:    
    Headquarter costs (*)   (11,701)
    Intersegment profit   106
    Gains from projects disposals   54,973
    Depreciation and amortization and share-based compensation   (35,499)
    Operating profit   151,189
    Finance income   6,695
    Finance expenses   (30,203)
    Share in the losses of equity accounted investees   (1,227)
    Profit before income taxes   126,454
         

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    (**) Due to the Company’s organizational restructuring, the Chief Operation Decision Maker (CODM) now reviews the group’s results by segmenting them into three business units: MENA (Middle East and North Africa), Europe, and the US. Consequently, the Central/Eastern Europe and Western Europe segments have been consolidated into the “Europe” segment, the Israel segment has been incorporated into the MENA segment, and the Management and Construction segment has been excluded. The comparative figures for the three months ended March 31, 2024, have been updated accordingly.

    Information related to Segmental Reporting

      For the three months ended at March 31, 2024
      MENA   Europe  

    USA

      Total reportable segments   Others   Total
      USD in thousands
    Revenues 28,474   59,160   1,231   88,865   1,532   90,397
    Tax benefits     3,264   3,264     3,264
    Total revenues and income 28,474   59,160   4,495   92,129   1,532   93,661
                           
    Segment adjusted EBITDA 24,528   50,707   3,122   78,357   668   79,025
         
    Reconciliations of unallocated amounts:    
    Headquarter costs (*)   (7,606)
    Intersegment profit   190
    Depreciation and amortization and share-based compensation   (28,721)
    Operating profit   42,888
    Finance income   8,065
    Finance expenses   (19,493)
    Share in the losses of equity accounted investees   (144)
    Profit before income taxes   31,316
         

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    Appendix 2 – Reconciliations between Net Income to Adjusted EBITDA

     
    ($ thousands)   For the three months ended at
        March 31, 2025   March 31, 2024
    Net Income   101,803   24,485
    Depreciation and amortization   33,789   25,604
    Share based compensation   1,710   3,117
    Finance income   (6,695)   (8,065)
    Finance expenses   30,203   19,493
    Gains from projects disposals (*)   (54,973)  
    Share of losses of equity accounted investees   1,227   144
    Taxes on income   24,651   6,831
    Adjusted EBITDA   131,715   71,609
             
    * Profit from revaluation linked to partial sale of asset.
       

    Appendix 3 – Debentures Covenants

    Debentures Covenants

    As of March 31, 2025, the Company was in compliance with all of its financial covenants under the indenture for the Series C, D, F, G and H Debentures, based on having achieved the following in its consolidated financial results:

    Minimum equity

    The company’s equity shall be maintained at no less than NIS 375 million so long as debentures F remain outstanding, NIS 1,250 million so long as debentures C and D remain outstanding, and USD 600 million so long as debentures G and H remain outstanding.

    As of March 31, 2025, the company’s equity amounted to NIS 5,916 million (USD 1,591 million).

    Net financial debt to net CAP

    The ratio of standalone net financial debt to net CAP shall not exceed 70% for two consecutive financial periods so long as debentures F remain outstanding and shall not exceed 65% for two consecutive financial periods so long as debentures C, D, G and H remain outstanding.

    As of March 31, 2025, the net financial debt to net CAP ratio, as defined above, stands at 36%.

    Net financial debt to EBITDA

    So long as debentures F remain outstanding, standalone financial debt shall not exceed NIS 10 million, and the consolidated financial debt to EBITDA ratio shall not exceed 18 for more than two consecutive financial periods.

    For as long as debentures C and D remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 15 for more than two consecutive financial periods.

    For as long as debentures G and H remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 17 for more than two consecutive financial periods.

    As of March 31, 2025, the net financial debt to EBITDA ratio, as defined above, stands at 8.

    Equity to balance sheet

    The standalone equity to total balance sheet ratio shall be maintained at no less than 20% ,25% and 28%, respectively, for two consecutive financial periods for as long as debentures F, debentures C and D and debentures G and H remain outstanding.

    As of March 31, 2025, the equity to balance sheet ratio, as defined above, stands at 55%.

    An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94346603-d361-4e84-aabc-62db3e22c10c

    The MIL Network

  • MIL-OSI United Kingdom: Brand Scotland backing for female entrepreneurs

    Source: United Kingdom – Executive Government & Departments

    News story

    Brand Scotland backing for female entrepreneurs

    Minister Kirsty McNeill champions all-women exporting power with female-led business roundtable hosted at Scotland Office Edinburgh HQ

    Scottish female entrepreneurs are getting direct access to the UK Government’s global trade expertise as Scotland Office Minister Kirsty McNeill urged women business leaders to join her on the first all-female Brand Scotland trade mission.

    The Scotland Office hosted a gathering of female business leaders from across Scotland on Thursday 1 May to identify and tackle any export challenges they face. Minister McNeill wanted to bring together business professionals to boost the success of women-led firms in the worldwide market.

    It’s part of the department’s Brand Scotland mission, to sell Scotland’s unique strengths around the world – promoting our goods and services to new markets, helping Scottish businesses export, and supporting trade missions to key global markets to unlock jobs and investment for the future.

    At the roundtable discussion event in Edinburgh Minister McNeill asked for the views of company leaders across the technology, sustainability, clean energy and beauty sectors, as well as from representatives of the Scottish Chambers of Commerce, the Confederation of British Industry and Women’s Enterprise Scotland.

    Minister McNeill said:

    From science and sustainability to culture and financial services, we’re amongst the best in the world – and by selling Scotland globally, we can unlock jobs and investment, an essential part of our Plan for Change.

    It’s crucial that I hear from Scottish businesswomen about the barriers they face, find out what we can do to help, and demonstrate how Scottish companies can really benefit from having direct informal access like this to the UK’s vast global network of trade expertise. By harnessing the combined resources of the Scotland Office, the Foreign Office and Department for Business and Trade, we can create significant opportunities for women entrepreneurs.

    We’re already seeing positive results from championing Brand Scotland internationally and I’m committed to unlocking more global opportunities for Scottish women in business.

    The roundtable discussion addressed three key challenges – how businesses can access finance and investment, overcoming export barriers, and tackling market access issues that disproportionately affect women-led businesses.

    Ideas and suggestions from the meeting will directly shape the Scotland Office’s all-women trade mission to Madrid in June where Minister McNeill will use diplomatic networks to expand markets for British exporters and meet with the Spanish business community to strengthen trade links. Representatives of Scottish female-led companies are being invited to join.

    Background

    • Brand Scotland is about selling Scotland’s unique strengths around the world – promoting our goods and services to new markets, helping Scottish businesses export, and funding and supporting trade missions to key global markets to unlock jobs and investment for the future. 

    • As part of this, the Scotland Office will lead trade missions to sell Scotland and its products to the world, encourage inward investment in Scotland and encourage Scottish firms to export to overseas markets – often for the first time. All this will drive growth and jobs here in Scotland. 

    • The Budget allocated an additional £750k for the Scottish Secretary and the Scotland Office to develop the Brand Scotland programme. 
    • The Scottish Secretary has already made trade trips to Norway, South East Asia and the US. Minister McNeill’s first trade trip will be to Madrid in June.

    Updates to this page

    Published 6 May 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Two more shops shut down in crackdown on illegal cigarettes and vapes

    Source: City of Stoke-on-Trent

    Trading Standards Evidence

    Published: Tuesday, 6th May 2025

    Two more shops in Stoke-on-Trent have been forced to close after a Trading Standards operation uncovered the sale of illegal cigarettes and vapes.

    Two more shops in Stoke-on-Trent have been forced to close after a Trading Standards operation uncovered the sale of illegal cigarettes and vapes.

    The closures follow months of investigation, including test purchasing. The investigation was part of a co-ordinated operation to target illegal cigarettes and vapes being sold in the city.
     

    Stoke-on-Trent City Council used its powers to issue the two premises with a 48-hour closure notice.

    Last week (Thursday 1st May 2025), Newcastle Magistrates Court has backed up the council’s actions by making a closure order for each of the premises for three months.

    The council will now work with the landlords of the affected premises to ensure that only legitimate businesses operate from these locations in the future.

    The shops subject to the closure orders are:

    • Mini Market, 60 Market Street, Longton, ST3 1BS
    • Market Mini Market, 35 Market Place, Burslem, ST6 3AG

    Both premises sold vapes to an underage volunteer.

    Councillor Amjid Wazir OBE, cabinet member for city pride, enforcement and sustainability for Stoke-on-Trent City Council – said: “This is another great result by our Trading Standards team.

    “These operations protect residents, support legitimate businesses, and uphold the law.

    “We want Stoke-on-Trent to be a safe, thriving place and we won’t hesitate to take action against those who undermine the hard work of residents and legitimate businesses.

    “I encourage any residents to report any suspicious activity related to illegal tobacco, vapes, or underage sales.”

    Anyone who wants to report a similar issue to Trading Standards can call the Trading Standards Hotline 01782 238444 or visit stoke.gov.uk.

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: President Lai meets Japanese Diet Member and former Minister of Economy, Trade, and Industry Nishimura Yasutoshi

    Source: Republic of China Taiwan

    Details
    2025-05-02
    President Lai meets Atlantic Council delegation
    On the afternoon of May 2, President Lai Ching-te met with a delegation from the Atlantic Council, a think tank based in Washington, DC. In remarks, President Lai said that we have already proposed a roadmap for deepening Taiwan-US trade ties to achieve a common objective of reducing all bilateral tariffs. At the same time, the president said, we will expand investments across the United States and create win-win outcomes for both sides through the trade and economic strategy of “Taiwan plus the US.” The president also emphasized that Taiwan is not only a bastion of freedom and democracy, but also an indispensable hub for global supply chains. He expressed hope that, given shared economic and security interests, Taiwan and the US will generate even greater synergy and prove to be each other’s strongest support. A translation of President Lai’s remarks follows: I welcome you all to Taiwan. In particular, Vice President Matthew Kroenig visited Taiwan last June and now is making another trip less than a year later. He also contributed an important article supporting Taiwan to a major international publication, highlighting the concern that our international friends have for Taiwan. We are truly moved and thankful. On behalf of the people of Taiwan, I sincerely thank all sectors of the US for their longstanding and steadfast support for Taiwan. Especially, as we face the challenges arising from the regional situation, we hope to continue deepening the Taiwan-US partnership. Holding a key position on the first island chain, Taiwan faces military threats and gray-zone aggression from China. We will continue to show our unwavering determination to defend ourselves. I want to emphasize that Taiwan is accelerating efforts to enhance its overall defense capabilities. The government will also prioritize special budget allocations to increase Taiwan’s defense spending from 2.5 percent of GDP to more than 3 percent. This reflects the efforts we are putting into safeguarding our nation and demonstrates our determination to safeguard regional peace and stability. During President Donald Trump’s first term, Taiwan purchased 66 new F-16V fighter jets. The first of these rolled off the assembly line in South Carolina at the end of this March. This is crucial for Taiwan’s strategy of achieving peace through strength. In the future, we will continue to procure defense equipment from the US that helps ensure peace and stability across the Taiwan Strait. We also look forward to bilateral security collaboration evolving beyond arms sales to a partnership that encompasses joint research and development and joint manufacturing, further strengthening our cooperation and exchanges. Taiwan firmly believes in fair, free, and mutually beneficial trade ties. Indeed, we have already proposed a roadmap for deepening Taiwan-US trade ties. This includes our common objective of reducing all bilateral tariffs as well as narrowing the trade imbalance through the procurement of energy and agricultural and other industrial products from the US. At the same time, we will expand investments across the US. We will promote our “Taiwan plus one” policy, that is, the new trade and economic strategy of “Taiwan plus the US,” to build non-red supply chains and create win-win outcomes for both sides. As the US is moving to reindustrialize its manufacturing industry and may hope to become a global manufacturing center for AI, Taiwan is willing to join in the efforts. Taiwan is not only a bastion of freedom and democracy, but also an indispensable hub for global supply chains. We have every confidence that, given shared Taiwan-US economic and security interests, we can generate even greater synergy and prove to be each other’s strongest support. In closing, I thank Vice President Kroenig once again for leading this delegation, demonstrating support for Taiwan. I look forward to exchanging opinions with you all in just a few moments. I wish you a smooth and successful trip. Vice President Kroenig then delivered remarks, first thanking President Lai for hosting them. He said that it is an honor to be here and to lead a delegation from the Atlanta Council, which consists of a mix of former senior US government officials with responsibility for Taiwan and also rising stars visiting Taiwan for the first time. Vice President Kroenig said that they are here at a critical moment, as there is an ongoing war in Europe, multiple conflicts in the Middle East, and increased Chinese aggression in the Indo-Pacific. Moreover, he pointed out, the regimes of China, Russia, Iran, and North Korea are increasingly working together in a new axis of aggressors. Vice President Kroenig indicated that the challenge facing the US and its allies and partners, including Taiwan, is how to deter these autocracies and maintain global peace, prosperity, and freedom, especially in Taiwan, whose security and stability matter, not only for Taiwan, but also for the US and the world. Vice President Kroenig assured President Lai and the people of Taiwan that the US is a reliable partner for Taiwan. The vice president stated that the administration under President Trump is prioritizing the deterrence of China, and that President Trump has announced an intention to have the largest US defense budget in history, more than US$1 trillion, to resource this priority. Pointing out that an America-first president will not help a country that is not helping itself, Vice President Kroenig said that their delegation has been impressed with the steps President Lai and the administration are taking to strengthen Taiwan’s security, including increasing defense spending, developing a societal resilience strategy, and using cutting edge technologies like unmanned systems to promote indigenous defense production. Vice President Kroenig said that more than money and equipment are necessary to secure a democracy against a powerful and ruthless neighbor, adding that history shows that the human factor is the most important. In the end, he said, it will be the will of the people of Taiwan to resist coercion and to defend their home which will be the most important factor determining the future fate of Taiwan and for the ability of the people of Taiwan to chart their own destiny. Vice President Kroenig emphasized that Americans are willing to support Taiwan in this endeavor, but it will be the people of Taiwan and strong and capable leaders like President Lai at the forefront of this struggle, with the firm support of America. Vice President Kroenig said that as the US and Taiwan work together on these challenges, the Atlantic Council looks forward to offering support behind the scenes. Founded in 1961 to support the Transatlantic Alliance, he said, the Atlantic Council is a global think tank, and part of its DNA is working closely with friends and allies in the Indo-Pacific, including Taiwan. He said they look forward to continuing their close and longstanding cooperation with Taiwan through visiting delegations, research and reports, and public and private events. In closing, Vice President Kroenig thanked President Lai again for hosting them and for the work he is doing to secure the free world. The delegation also included former Deputy Assistant Secretary of Defense for East Asia Heino Klinck and former Director for Taiwan Affairs at the White House National Security Council Marvin Park.

    Details
    2025-05-01
    President Lai meets Japan’s LDP Youth Division delegation
    On the morning of May 1, President Lai Ching-te met with a delegation from Japan’s Liberal Democratic Party (LDP) Youth Division. In remarks, President Lai thanked the guests for demonstrating support for deepening Taiwan-Japan ties through concrete actions. The president expressed hope that Taiwan and Japan can continue to conduct exchanges in such areas as national defense, the economy, education, culture, sports, and the arts so that bilateral relations reach even greater heights. A translation of President Lai’s remarks follows: I want to welcome our distinguished guests, who include Diet members in the LDP Youth Division and guests from Junior Chamber International (JCI) Japan, to the Presidential Office. It is also a pleasure to see LDP Youth Division Director Nakasone Yasutaka, House of Representatives Member Hiranuma Shojiro, and House of Councillors Member Kamiya Masayuki again today. I look forward to discussions with all our distinguished guests. The LDP Youth Division and JCI Japan have once again demonstrated support for deepening Taiwan-Japan ties through concrete actions. On behalf of the people of Taiwan, I also want to thank the LDP Youth Division for launching a fundraising campaign to help those affected by the earthquake in Hualien County on April 3 last year. LDP Youth Division members will be important leaders in Japan’s political arena in the future. Taiwan deeply values our exchanges with the Youth Division and hopes to bring about concrete results from such exchanges. Peace and stability in the Taiwan Strait are critical to the security and prosperity of the world, and Taiwan and Japan can work together to promote peace and stability in the Indo-Pacific region. Former Prime Ministers Abe Shinzo and Kishida Fumio, and current Prime Minister Ishiba Shigeru have repeatedly stressed the importance of peace and stability in the Taiwan Strait at important international venues. Taiwan is deeply grateful to Japan’s current and former prime ministers for their concern and support for this issue. Taiwan and Japan can also cooperate in industry and the economy. As our industries are complementary, further cooperation can create win-win outcomes. In the semiconductor industry, for instance, Taiwan’s strengths lie in manufacturing, while Japan’s strengths lie in materials, equipment, and technology. If we work together, the semiconductor industry is sure to see even more robust development. In addition to the economy and national defense, Taiwan and Japan can also conduct exchanges in such areas as education, culture, sports, and the arts. Our countries have long shared deep ties – Director Nakasone’s grandfather, former Prime Minister Nakasone Yasuhiro, was stationed in Taiwan and lived in what is now the Mingde New Residential Quarter of Kaohsiung City’s Zuoying District. I am confident that on the basis of our already solid foundations, Taiwan-Japan relations can reach even greater heights. Director Nakasone then delivered remarks, first thanking President Lai for finding time in his busy schedule to meet with the visiting delegation. He said that the LDP Youth Division sends a visiting delegation to Taiwan each year and is always granted the opportunity to meet with the president, demonstrating his high regard for the delegation, for which the director again expressed his gratitude. He remarked that he, together with House of Representatives Member Suzuki Keisuke, visited Taiwan last July, and that whenever he visits Taiwan, it feels as if he is returning home. Director Nakasone recalled President Lai’s earlier remarks, saying that he hopes the young people of Taiwan and Japan can fully engage in exchanges in the areas of national defense, the economy, culture, education, and the arts. The director said he believes that in today’s complex and difficult international situation, such directives are necessary. This is especially so, he emphasized, during United States President Donald Trump’s second term, when things once taken for granted are no longer so, and when the global economy is undergoing significant changes. Director Nakasone expressed his full support for strengthening Taiwan and Japan’s practical and strategic cooperation. He said he believes each side will be able to benefit from such cooperation and hopes that exchanges will progress toward shared goals. He pointed out that, as maritime nations, Taiwan and Japan share the goals of protecting the ocean and using marine resources wisely, goals that we ought to cooperate on and devote our full efforts to. The peace and stability of the Taiwan Strait are critical to the peace and stability of East Asia and even the world, he said, so we must ensure that the world and its leaders recognize this point, and Japan will do its utmost to advocate for it. Director Nakasone said, on the topic of semiconductors, that Taiwan Semiconductor Manufacturing Company’s new fab in Japan’s Kumamoto Prefecture has made the area very lively, adding that the Japanese government is providing more than 1.25 trillion yen in subsidies. Moving forward, the Japanese government plans to inject an additional 10 trillion yen, he said, to aid in the development of AI and other fields. Noting that Taiwan and Japan both excel in semiconductors, he expressed his hope that each can give free rein to its strengths to produce an even greater effect. Director Nakasone said that despite Taiwan’s facing formidable internal and external circumstances, it saw 4.6 percent economic growth last year under President Lai’s strong leadership, and it continued to promote measures to enhance overall societal resilience, all of which is admirable. In closing, the director thanked President Lai once again for taking the time to meet with them. Also in attendance were Japanese House of Representatives Members Nemoto Taku and Fukuda Kaoru, and Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-04-29
    President Lai meets NBR delegation  
    On the morning of April 29, President Lai Ching-te met with a delegation from the National Bureau of Asian Research (NBR). In remarks, President Lai stated that as Taiwan stands at the very frontline of defense of global democracy, we are actively implementing our Four Pillars of Peace action plan, which includes continuing to enhance our national defense capabilities, demonstrating our commitment to defending freedom and democracy. The president said he hopes to further advance national security and industrial cooperation between Taiwan and the United States. He also expressed hope that this will help boost economic resilience for both sides and establish each as a key pillar of regional security, elevating our relations to even higher levels. A translation of President Lai’s remarks follows: I am delighted to meet with Admiral John Aquilino again today. I also warmly welcome NBR President Michael Wills and our distinguished guests from the bureau to Taiwan. I look forward to exchanging views with you all on Taiwan-US relations and the regional situation. During his tenure as commander of the US Indo-Pacific Command, Admiral Aquilino placed much attention on the Taiwan Strait issue. And the NBR has conducted a wealth of research and analysis focusing on matters of regional security. Thanks to all of your outstanding contributions and efforts, the international community has gained a better understanding of the role Taiwan plays in the Indo-Pacific region and in global democratic development. For this, I want to extend my deepest gratitude. Taiwan stands at the very frontline of defending global democracy and is located at a strategically important location in the first island chain. We are actively implementing our Four Pillars of Peace action plan, which includes continuing to enhance our national defense capabilities, building economic security, demonstrating stable and principled cross-strait leadership, and standing side-by-side with the democratic community to jointly demonstrate the strength of deterrence and safeguard regional peace and stability. At the beginning of this month, I announced an increase in military allowances for volunteer service members and combat troops. The government will also continue to reform national defense and enhance self-sufficiency in defense. In addition, we will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. These efforts continue to strengthen Taiwan’s self-defense capabilities and demonstrate our commitment to defending freedom and democracy. As we mark the 46th anniversary of the enactment of the Taiwan Relations Act, we thank the US government for continuing its arms sales to Taiwan and strengthening the Taiwan-US partnership over the years. We believe that, in addition to engaging in military exchanges and cooperation, Taiwan and the US can build an even closer economic and trade relationship, boosting each other’s economic resilience and establishing each as a key pillar of regional security. I expect that your continued assistance will help advance national security and industrial cooperation between Taiwan and the US, elevating our relations to even higher levels. Once again, I welcome our distinguished guests to Taiwan and wish you a pleasant and successful trip. I hope that through this visit, you gain a more comprehensive and in-depth understanding of Taiwan’s economy and national defense. Admiral Aquilino then delivered remarks, thanking the Ministry of National Defense for the invitation and President Lai for receiving and spending time with them. Mentioning that this is his second visit in five months, he said he continues to be incredibly impressed with the president’s leadership and the actions he has taken to secure Taiwan and defend its people. Admiral Aquilino said that he has watched the efforts of the ministers on whole-of-society defense to demonstrate deterrence and added that the pace of the work is nothing short of inspiring. Admiral Aquilino noted that Taiwan’s thriving democracy is incredibly important to the peace and stability of the region. He stated that he, alongside the NBR, will continue to offer support, noting that President Wills and his team are an asset to Taiwan and the US that helps continue our close relationship and ensure peace and stability in the region.  

    Details
    2025-04-28
    President Lai meets Japanese Diet Member and former Minister of State for Economic Security Takaichi Sanae
    On the afternoon of April 28, President Lai Ching-te met with a delegation led by Member of the Japanese House of Representatives and former Minister of State for Economic Security Takaichi Sanae. In remarks, President Lai thanked the government of Japan for repeatedly emphasizing the importance of peace and stability across the Taiwan Strait at important international venues. The president expressed hope that in the face of China’s continually expanding red supply chains, Taiwan and Japan can continue to cooperate closely in such fields as semiconductors, energy, and AI technology to create non-red supply chains that enhance economic resilience and industrial competitiveness for both sides, and jointly pave the way for further prosperity and growth in the Indo-Pacific region. A translation of President Lai’s remarks follows: First, I would like to extend a warm welcome to Representative Takaichi as she returns for another visit to Taiwan. I am also very happy to have Members of the House of Representatives Kikawada Hitoshi and Ozaki Masanao, and Member of the House of Councillors Sato Kei all gathered together here to engage in these very important exchanges. Our visitors will be taking part in many exchange activities during this trip. Earlier today at the Indo-Pacific Strategy Thinktank’s International Political and Economic Forum, Representative Takaichi delivered a speech in which she clearly demonstrated the great importance she places upon the friendship between Taiwan and Japan. For this I want to express my deepest appreciation to each of our guests. The peoples of Taiwan and Japan have a deep friendship and mutual trust. We have a shared commitment to the universal values of democracy, freedom, and respect for human rights, but beyond that, we both have striven to contribute to regional peace and stability. I also want to thank the government of Japan for repeatedly emphasizing the importance of peace and stability across the Taiwan Strait at important international venues. Tomorrow you will all make a trip to Kaohsiung to visit a bronze statue of former Prime Minister Abe Shinzo, who once said, “If Taiwan has a problem, then Japan has a problem.” We will always remember the firm support and friendship he showed Taiwan. Since taking office last year, I have worked hard to improve Taiwan’s whole-of-society defense resilience and implement our Four Pillars of Peace action plan. By strengthening our national defense capabilities, building up economic security, demonstrating stable and principled cross-strait leadership, and deepening partnerships with democratic countries including Japan, we can together maintain peace and stability in the Indo-Pacific region and across the Taiwan Strait. At the same time, in the face of China’s continually expanding red supply chains, we hope that Taiwan and Japan, as important economic and trade partners, can continue to cooperate closely in such fields as semiconductors, energy, and AI technology to create non-red supply chains that further enhance economic resilience and industrial competitiveness for both sides. Going forward, Taiwan will work hard to play an important role in the international community and contribute its key strengths. I hope that, with the support of our guests, Taiwan can soon accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and sign an economic partnership agreement (EPA) with Japan so that we can jointly pave the way for further prosperity and growth in the Indo-Pacific region. Lastly, I thank each of you once again for taking concrete action to support Taiwan. I am confident that your visit will help deepen Taiwan-Japan ties and create even greater opportunities for cooperation. Let us all strive together to keep propelling Taiwan-Japan relations forward.  Representative Takaichi then delivered remarks, first thanking President Lai and Taiwanese political leaders for the warm hospitality they extended to the delegation, and mentioning that the visiting delegation members are all like-minded partners carrying on the legacy of former Prime Minister Abe. July 8 this year will mark the third anniversary of the passing of former Prime Minister Abe, she said, and when the former prime minister unfortunately passed away, President Lai, then serving as vice president, was among the first to come offer condolences, for which she expressed sincere admiration and gratitude. Representative Takaichi stated that Taiwan and Japan are island nations that face the same circumstances and problems, and that Japan’s trade activities rely heavily on ocean transport, so once a problem arises nearby that threatens maritime shipping lanes, it will be a matter of life and death for Japan. Taiwan and Japan are similar, as once a problem arises, both will face food and energy security issues, and supply chains may even be threatened, she said. Regarding Taiwan-Japan cooperation, Representative Takaichi stated that both sides must first protect and strengthen supply chain resilience. President Lai has previously said that he wants to turn Taiwan into an AI island, she said, and in semiconductors, Taiwan has the world’s leading technology. Representative Takaichi went on to say that Taiwan and Japan can collaborate in the fields of AI and semiconductors, quantum computing, and dual-use industries, as well as in areas such as drones and new energy technologies to build more resilient supply chains, so that if problems arise, we can maintain our current standard of living with peace of mind. Representative Takaichi indicated that cooperation in the defense sector is also crucial, and that by uniting like-minded countries including Taiwan, the United States, Japan, the Philippines, and Australia, and even countries in Europe, we can build a stronger network to jointly maintain our security guarantees. Representative Takaichi expressed hope that Taiwan and Japan will continue to strengthen substantive non-governmental relations, including personnel exchange visits and information sharing, so that we can jointly face and respond to crises when they arise. Regarding the hope to sign a Taiwan-Japan EPA that President Lai had mentioned earlier, she also expressed support and said she looks forward to upcoming exchanges and talks. The visiting delegation also included Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-04-23
    President Lai delivers remarks at International Holocaust Remembrance Day event
    On the afternoon of April 23, President Lai Ching-te attended an International Holocaust Remembrance Day event and delivered remarks, in which he emphasized that peace is priceless, and war has no winners, while morality, democracy, and respect for human rights are powerful forces against violence and tyranny. The president stated that Taiwan will continue to expand cooperation with democratic partners and safeguard regional and global peace and stability, defending democracy, freedom, and human rights. He said we must never forget history, and must overcome our differences and join in solidarity to ensure that the next generations live in a world that is more just and more peaceful. Upon arriving at the event, President Lai heard a testimony from the granddaughter of a Holocaust survivor, followed by a rabbi’s recitation of the prayer “El Maleh Rachamim.” He then joined other distinguished guests in lighting candles in memory of the victims. A transcript of President Lai’s remarks follows: To begin, I want to thank the Israel Economic and Cultural Office (ISECO) in Taipei, German Institute Taipei, Taiwan Foundation for Democracy, and Ministry of Foreign Affairs for co-organizing this deeply significant memorial ceremony again this year. I also want to thank everyone for attending. We are here today to remember the victims of the Holocaust, express sympathy for the survivors, honor the brave individuals who protected the victims, and acknowledge all who were impacted by this atrocity. It was deeply moving to hear Ms. [Orly] Sela share the story of how her grandmother, Yehudit Biksz, escaped the Nazi regime. I want to thank her specially for traveling so far to attend this event. From the 1930s through World War II, the Nazi regime sought to exclude Jewish people from society. In their campaign, they perpetrated systematic genocide driven by their ideology. Policies and directives under the authoritarian Nazi regime resulted in the deaths of approximately 6 million Jews. Millions of others were persecuted, including Romani people, persons with disabilities, the gay community, and anyone who disagreed with Nazi ideology. It is one of the darkest chapters in human history. Many countries, including Taiwan, have enacted anti-massacre legislation, and observe a remembrance day each year. Those occasions help us remember the victims, preserve historical memory, and most importantly, reinforce our resolve to fight against hatred and discrimination. Twenty-three years ago, Chelujan (車路墘) Church in Tainan founded the Taiwan Holocaust Memorial Museum. It is the first Jewish museum in Taiwan, and the second Holocaust museum in Asia. Its founding mission urges us to forget hatred and love one another; put an end to war and advocate peace. Many of the exhibition items come from Jewish people, connecting Taiwan closer with Israel and helping Taiwanese better understand the experiences of Jewish people. In this way, we grow to more deeply cherish peace. When I was mayor of Tainan, I took part in an exhibition event at Chelujan Church. I was also invited by the Israeli government to join the International Mayors Conference in Israel, where I visited the World Holocaust Remembrance Center. I will never forget how deeply that experience moved me, and as a result, peace and human rights became even more important issues for me. These issues are valued by Taiwan and our friends and allies. They are also important links connecting Taiwan with the world. Peace is priceless, and war has no winners. We will continue to expand cooperation with democratic partners and safeguard regional and global peace and stability. We will also continue to make greater contributions and work with the international community to defend democracy, freedom, and human rights. This year also marks the 80th anniversary of the end of World War II. However, we still see wars raging around the world. We see a resurgence of authoritarian powers, which could severely impact global democracy, peace, and prosperous development. Today’s event allows for more than reflection on the past; it also serves as a warning for the future. We are reminded of the threats that hatred, prejudice, and extremism pose to humanity. But we are also reminded that morality, democracy, and respect for human rights are powerful forces against violence and tyranny. We must never forget history. We must overcome our differences and join in solidarity for a better future. Let’s work together to ensure that the next generations live in a world that is more just and more peaceful. Also in attendance at the event were Member of the Israeli Knesset (parliament) and Taiwan friendship group Chair Boaz Toporovsky, ISECO Representative Maya Yaron, and German Institute Taipei Deputy Director General Andreas Hofem.

    Details
    2025-04-06
    President Lai delivers remarks on US tariff policy response
    On April 6, President Lai Ching-te delivered recorded remarks regarding the impact of the 32 percent tariff that the United States government recently imposed on imports from Taiwan in the name of reciprocity. In his remarks, President Lai explained that the government will adopt five response strategies, including making every effort to improve reciprocal tariff rates through negotiations, adopting a support plan for affected domestic industries, adopting medium- and long-term economic development plans, forming new “Taiwan plus the US” arrangements, and launching industry listening tours. The president emphasized that as we face this latest challenge, the government and civil society will work hand in hand, and expressed hope that all parties, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. A translation of President Lai’s remarks follows: My fellow citizens, good evening. The US government recently announced higher tariffs on countries around the world in the name of reciprocity, including imposing a 32 percent tariff on imports from Taiwan. This is bound to have a major impact on our nation. Various countries have already responded, and some have even adopted retaliatory measures. Tremendous changes in the global economy are expected. Taiwan is an export-led economy, and in facing future challenges there will inevitably be difficulties, so we must proceed carefully to turn danger into safety. During this time, I want to express gratitude to all sectors of society for providing valuable opinions, which the government regards highly, and will use as a reference to make policy decisions.  However, if we calmly and carefully analyze Taiwan’s trade with the US, we find that last year Taiwan’s exports to the US were valued at US$111.4 billion, accounting for 23.4 percent of total export value, with the other 75-plus percent of products sold worldwide to countries other than the US. Of products sold to the US, competitive ICT products and electronic components accounted for 65.4 percent. This shows that Taiwan’s economy does still have considerable resilience. As long as our response strategies are appropriate, and the public and private sectors join forces, we can reduce impacts. Please do not panic. To address the reciprocal tariffs by the US, Taiwan has no plans to adopt retaliatory tariffs. There will be no change in corporate investment commitments to the US, as long as they are consistent with national interests. But we must ensure the US clearly understands Taiwan’s contributions to US economic development. More importantly, we must actively seek to understand changes in the global economic situation, strengthen Taiwan-US industry cooperation, elevate the status of Taiwan industries in global supply chains, and with safeguarding the continued development of Taiwan’s economy as our goal, adopt the following five strategies to respond. Strategy one: Make every effort to improve reciprocal tariff rates through negotiations using the following five methods:  1. Taiwan has already formed a negotiation team led by Vice Premier Cheng Li-chiun (鄭麗君). The team includes members from the National Security Council, the Office of Trade Negotiations, and relevant Executive Yuan ministries and agencies, as well as academia and industry. Like the US-Mexico-Canada free trade agreement, negotiations on tariffs can start from Taiwan-US bilateral zero-tariff treatment. 2. To expand purchases from the US and thereby reduce the trade deficit, the Executive Yuan has already completed an inventory regarding large-scale procurement plans for agricultural, industrial, petroleum, and natural gas products, and the Ministry of National Defense has also proposed a military procurement list. All procurement plans will be actively pursued. 3. Expand investments in the US. Taiwan’s cumulative investment in the US already exceeds US$100 billion, creating approximately 400,000 jobs. In the future, in addition to increased investment in the US by Taiwan Semiconductor Manufacturing Company, other industries such as electronics, ICT, petrochemicals, and natural gas can all increase their US investments, deepening Taiwan-US industry cooperation. Taiwan’s government has helped form a “Taiwan investment in the US” team, and hopes that the US will reciprocate by forming a “US investment in Taiwan” team to bring about closer Taiwan-US trade cooperation, jointly creating a future economic golden age.  4. We must eliminate non-tariff barriers to trade. Non-tariff barriers are an indicator by which the US assesses whether a trading partner is trading fairly with the US. Therefore, we will proactively resolve longstanding non-tariff barriers so that negotiations can proceed more smoothly. 5. We must resolve two issues that have been matters of longstanding concern to the US. One regards high-tech export controls, and the other regards illegal transshipment of dumped goods, otherwise referred to as “origin washing.” Strategy two: We must adopt a plan for supporting our industries. For industries that will be affected by the tariffs, and especially traditional industries as well as micro-, small-, and medium-sized enterprises, we will provide timely and needed support and assistance. Premier Cho Jung-tai (卓榮泰) and his administrative team recently announced a package of 20 specific measures designed to address nine areas. Moving forward, the support we provide to different industries will depend on how they are affected by the tariffs, will take into account the particular features of each industry, and will help each industry innovate, upgrade, and transform. Strategy three: We must adopt medium- and long-term economic development plans. At this point in time, our government must simultaneously adopt new strategies for economic and industrial development. This is also the fundamental path to solutions for future economic challenges. The government will proactively cooperate with friends and allies, develop a diverse range of markets, and achieve closer integration of entities in the upper, middle, and lower reaches of industrial supply chains. This course of action will make Taiwan’s industrial ecosystem more complete, and will help Taiwanese industries upgrade and transform. We must also make good use of the competitive advantages we possess in such areas as semiconductor manufacturing, integrated chip design, ICT, and smart manufacturing to build Taiwan into an AI island, and promote relevant applications for food, clothing, housing, and transportation, as well as military, security and surveillance, next-generation communications, and the medical and health and wellness industries as we advance toward a smarter, more sustainable, and more prosperous new Taiwan. Strategy four: “Taiwan plus one,” i.e., new “Taiwan plus the US” arrangements: While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. This has been our national economic development strategy, and the most important aspect is maintaining a solid base here in Taiwan. We absolutely must maintain a solid footing, and cannot allow the present strife to cause us to waver. Therefore, our government will incentivize investments, carry out deregulation, and continue to improve Taiwan’s investment climate by actively resolving problems involving access to water, electricity, land, human resources, and professional talent. This will enable corporations to stay in Taiwan and continue investing here. In addition, we must also help the overseas manufacturing facilities of offshore Taiwanese businesses to make necessary adjustments to support our “Taiwan plus one” policy, in that our national economic development strategy will be adjusted as follows: to stay firmly rooted in Taiwan while expanding our global presence, strengthening US ties, and marketing worldwide. We intend to make use of the new state of supply chains to strengthen cooperation between Taiwanese and US industries, and gain further access to US markets. Strategy five: Launch industry listening tours: All industrial firms, regardless of sector or size, will be affected to some degree once the US reciprocal tariffs go into effect. The administrative teams led by myself and Premier Cho will hear out industry concerns so that we can quickly resolve problems and make sure policies meet actual needs. My fellow citizens, over the past half-century and more, Taiwan has been through two energy crises, the Asian financial crisis, the global financial crisis, and pandemics. We have been able to not only withstand one test after another, but even turn crises into opportunities. The Taiwanese economy has emerged from these crises stronger and more resilient than ever. As we face this latest challenge, the government and civil society will work hand in hand, and I hope that all parties in the legislature, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. Let us join together and give it our all. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Trading on Chinese stock exchanges ends with growth in quotes

    Translation. Region: Russian Federal

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

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

    BEIJING, May 6 (Xinhua) — Trading on Chinese stock exchanges ended with a rise in quotations today. The Shanghai Composite, which reflects the situation on the Shanghai Stock Exchange, rose by 1.13 percent compared to the results of the previous trading day and amounted to 3316.11 points.

    The Shenzhen Component, a gauge of business activity on the Shenzhen trading floor, rose 1.84 percent to 10,082.34 points. -0-

    MIL OSI Russia News

  • MIL-OSI Australia: Sky News First Edition with Peter Stefanovic

    Source: Australia’s climate in 2024: 2nd warmest and 8th wettest year on record

    PETER STEFANOVIC, HOST: Joining us live is the Foreign Minister, Penny Wong. Minister, good to see you this morning. Thank you for your time. Before we get into the post-mortem of the election, I’d just like to ask you about this. It’s all about getting the remaining hostages that Hamas still has. What’s your response to this move?

    PENNY WONG, FOREIGN MINISTER: Well, first, my principled response is Australia continues to call for a ceasefire. We want to see the hostages returned and we want to see humanitarian aid delivered. The humanitarian situation in Gaza is catastrophic. No aid has gone in for weeks. So, we will continue to call on all parties – ceasefire, hostage returns and humanitarian aid to be delivered.

    STEFANOVIC: Do you think the election result justified your stance on Israel and Gaza?

    FOREIGN MINISTER: Look, I don’t think that was a central issue in the campaign. I think that Australians were very focused on cost of living, were very focused on issues that were relevant to their lives. And I want to say how humbled and grateful we are for the privilege that’s been given to us. We really understand it’s a privilege and a responsibility. And what you will see, Pete, is us working every day for the Australian people, knowing the responsibility we’ve been given.

    STEFANOVIC: On trade, a few items of note from firstly, the US and also the EU today. So, the Prime Minister will reportedly scrap the luxury car tax if the EU opens up its market for our ag exports. Is that a fair trade if it’s true?

    FOREIGN MINISTER: I wanted to say broadly, when we announced our response to tariffs, you will recall, we laid out a set of principles and a set of responses that we would put in place, and one of them was continued trade diversification. Now, we’ve done a lot of work on that. You would have heard me, in the context of having some impediments and some $20 billion worth of trade into China lifted during our term of government, I always say to people, we need to diversify, we need to continue to diversify. That’s part of our economic resilience. And we had another Free Trade Agreement with the United Arab Emirates. We’ve had a lot more engagement economically with Southeast Asia on both investment and trade. But obviously, the EU Free Trade Agreement would be an important part of that trade diversification. So, we will keep working on that because we’re a trading nation. We don’t want to be part of trade barriers because it’s not good for us. It’s an act of economic self-harm. So, of course we’ll engage with the European Union and others.

    STEFANOVIC: And on the US how concerned are you about Donald Trump’s tariffs on foreign-made films hurting our industry here?

    FOREIGN MINISTER: I was just asked this by Karl, in fact, and the point I’d make is we have a lot of collaboration between our film industries. You get Aussie actors in US films. You get US films made here or filmed here. There’s a lot of collaboration in the creative area. So, we hope that President Trump, in the context of his discussions with the studio, will come to see the extent to which Australian and American film industries do work together to the benefit of both countries.

    STEFANOVIC: Ok, let’s get to your thoughts on how the election turned out. Are you expecting many, if at all, frontbench changes?

    FOREIGN MINISTER: Well, that’s a matter for, first, the caucus and the Prime Minister. The Prime Minister has made clear his view about some of the senior leadership and us staying in our roles. But beyond that, the decision will be for caucus and for the Prime Minister about which portfolios he allocates. But my thoughts on the election really are summed up in this: the Liberal Party does not represent middle Australia. We see that in the seat results in the suburbs and cities of this country. Families looked at the Liberal Party and thought, you don’t represent my hopes, my aspirations or reflect my concerns.

    STEFANOVIC: Did Liberal preferences help you win seats from the Greens?

    FOREIGN MINISTER: Well, I have looked at a few seats and, for example, I think Renee Coffey in the seat of Griffiths was ahead of Max Chandler-Mather on primaries. So, we live in a preferential system. But I would say the Labor primary vote was obviously very strong and we really respect and are grateful for the opportunity – the choice of Australians and the opportunity we’ve been given.

    STEFANOVIC: But I suppose when it comes to the Liberal Party and its preferences, you were above the Greens. So, might you have Peter Dutton to thank for that by flipping some of those seats?

    FOREIGN MINISTER: Well, Pete, that’s an interesting take. I think that the majority of the contests in the 150 plus seats around the country, as you know, were between us and the Liberal Party. And out of that, I think out of 88 metropolitan seats they hold, I think it’s nine or 10. And there’s obviously some outstanding. But that really says something about the extent to which the Coalition were rejected by middle Australia. That’s the key issue, not the Greens.

    STEFANOVIC: Ok, just a final note. I mean, there was some scuttlebutt back before the election and you are a young person, but there was still rumour that you might be heading for retirement. Given the size of the win, how does that change your calculations with how much time you want to spend?

    FOREIGN MINISTER: That’s a very good question. Obviously, I made a commitment to serve the whole of this term. But yes, the size of the win, we can genuinely do the work for the Australian people and set the country up for a long-term stable Labor Government. And I’m really privileged to be part of that.

    STEFANOVIC: So at least one term, Penny, then we’ll see.

    FOREIGN MINISTER: At least one term. At least one term.

    STEFANOVIC: Can I also ask, I mean, your comments on potentially resurrecting the Voice, that was seized upon by your opponents, but did you fear that that could derail the Labor campaign?

    FOREIGN MINISTER: Yeah, so, and I know, Sky ran on this a lot and obviously, you never want to give people the opportunity to dial up the conflict during a campaign. But you know what I think it demonstrated? It demonstrated a reflex to have a go on these culture war issues, rather than talk about the issues that really mattered to Australians, which were cost of living, Medicare, health, education. Rather than talk about how we maintain steady leadership in a time of great uncertainty. Most Australians were not where the Liberal Party were on those issues. It was a beat-up. We’ve made clear the Voice is gone. I’ve said that many times. But what’s more important is, I think what is said to Australians is you keep talking about issues and getting aggro and playing the politics of conflict. Actually, I’m worried about, are you going to give me tax cuts? Are you going to make it easy to see a doctor? Are you going to make sure my school is funded? Are you going to make sure you build more houses? I want the 20 per cent reduction in HECS debt and I want fee-free TAFE. That’s where people were, that’s where Australians were, it’s not where the Liberal Party was.

    STEFANOVIC: Ok, I know you’ve got another interview to get to, but thank you so much for your time.

    MIL OSI News

  • MIL-OSI Asia-Pac: Winners Announced at Taiwan’s Largest AI Competition: The Best AI Awards – 1,253 Teams from 37 Countries Compete for Top Honors in AI Innovation

    Source: Republic of China Taiwan

    To promote AI innovation and foster emerging talent, Taiwan’s Ministry of Economic Affairs (MOEA) hosted the inaugural Best AI Awards Finals and Awards Ceremony on May 3 at the Taipei World Trade Center Hall 1. The competition attracted 1,253 elite teams from 36 countries. From the 233 finalists, 93 awards were presented, including eight Gold Prizes awarded to leading companies and academic teams from HiTRUST Incorporated, eYs3D Microelectronics, Data Yoo Application CO., Jmem Technology, National Central University, National Taiwan University, as well as standout international entries from the UK and the Philippines.

    Speaking at the event, Deputy Minister of Economic Affairs Ho Chin-Tsang highlighted that the competition served as a platform to bring together talent cultivation, real-world application, and industry demand. This year’s entries, he noted, exemplify how AI innovation can be combined with creativity to meet real-world needs. Looking ahead, the Ministry will continue to align policy direction and resource investment with industry needs to bring more AI innovations to market and create meaningful local impact.

    Kuo Chao-Chung, Director General of the Department of Industrial Technology, noted that in addition to enthusiastic participation from domestic companies and universities, the inaugural competition also attracted 353 international entrants from 36 countries, including India, the Philippines, the United States, and the United Kingdom. This strong turnout highlights the Awards’ growing significance as not just a Taiwanese initiative, but a global platform for AI innovation and exchange. Beyond the competition itself, the Ministry of Economic Affairs is working with academic and research institutions to support enterprises in design, product development, and prototyping. It is also partnering with agencies such as the Small and Medium Enterprise and Startup Administration and the Industrial Development Administration to help accelerate AI-driven transformation across industries.

    Chiou Chyou-Huey, Director General of the Industrial Development Administration and a key advocate behind the competition, described the Best AI Awards as Taiwan’s largest and most prestigious AI contest. The Award offers some of the highest prizes and maintains a highly competitive selection process with a winning rate of just 7.4%. He expressed hopes that through further efforts, AI can be integrated across all sectors to drive widespread industrial innovation.

    This year’s entries spanned a diverse range of industries, including ICT (18.4%), manufacturing (16.2%), healthcare (15.9%), wholesale and retail (10.2%), education (8.6%), and finance (7.8%). More than 100 startups, SMEs, and publicly listed companies took part, accelerating the adoption of AI across Taiwan’s industrial landscape.

    Looking ahead, the Ministry of Economic Affairs plans to make the Best AI Awards an annual flagship event for advancing AI development, talent cultivation, and innovation. The finals will be held each May alongside COMPUTEX, with over 20 domestic and international investors and buyers invited to participate in matchmaking sessions. Through this series of initiatives, the Ministry aims to foster new AI applications, accelerate workforce development, and help realize Taiwan’s vision of becoming a global AI Island.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Chinese agricultural investment and technology are continuously flowing into ASEAN countries

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    In recent years, with the steady development of economic and trade relations between China and ASEAN, agricultural trade between China and ASEAN countries has seen favorable dynamics. ASEAN has been China’s largest trading partner in agricultural products for eight consecutive years.

    While a wide range of high-quality agricultural products from ASEAN countries are becoming increasingly popular with Chinese consumers, Chinese investment and technology in agriculture have also been continuously flowing into ASEAN countries. In recent years, China and ASEAN countries have jointly carried out hundreds of agricultural cooperation and technical exchange projects, including pest prevention and control, rice yield enhancement methods and rice management. Agricultural technology demonstration bases and experimental stations for breeding promising crop varieties have been established.

    For example, in Cambodia, under Chinese-Cambodian cooperation, demonstration bases for growing rubber, coconuts, peppers and other crops are being consistently created, which helps to increase the yield and efficiency of local crop production. The Chinese side holds training seminars on standardized banana production technologies, transferring experience in the industrialization of fruit cultivation. Together with Cambodia, the construction of a center for the selection of valuable tree species has been completed, which contributes to the sustainable development of forestry.

    Hu Bingchuan, a research fellow at the Institute of Rural Development of the Chinese Academy of Social Sciences and director of the Agricultural Trade and Policy Research Department, noted that in recent years, in addition to trade, China and ASEAN countries have actively cooperated in agricultural technology and experience sharing, achieving significant results.

    This cooperation helps ASEAN countries improve the yield and quality of agricultural products, expand the range and increase the volume of exports, which in turn promotes further growth of agricultural trade between China and ASEAN countries, improves the living standards of people and promotes agricultural modernization in the region.

    Liu Amin, deputy director and research fellow of the Institute of International Studies, Shanghai Academy of Social Sciences, stressed that China and ASEAN countries have strong complementarities in agricultural technology, scientific research cooperation and environmentally sustainable development.

    China has been disseminating advanced hybrid rice cultivation technology to ASEAN countries such as Thailand, which has effectively improved rice yield and quality. The exchange of experiences between China and ASEAN countries in agricultural mechanization and pest control has given new impetus to the development of agriculture in these countries.

    The negative list management model under RCEP further simplifies investment in agriculture and lowers the threshold for foreign investment. The successful hosting of international exhibitions such as the China International Consumer Goods Expo has created an effective platform for China-ASEAN agricultural trade networking.

    MIL OSI Russia News

  • MIL-OSI: Municipality Finance issues SEK 500 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    6 May 2025 at 10:00 am (EEST)

    Municipality Finance issues SEK 500 million notes under its MTN programme

    Municipality Finance Plc issues SEK 500 million notes on 7 May 2025. The maturity date of the notes is 28 December 2027. The notes bear interest at a floating rate equal to 3-month Stibor plus 13 bps per annum.

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

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 7 May 2025.

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

    MUNICIPALITY FINANCE PLC

    Further information:

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

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

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

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

    Read more: www.munifin.fi

    Important Information

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

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

    The MIL Network

  • MIL-Evening Report: As Warren Buffett prepares to retire, does his investing philosophy have a future?

    Source: The Conversation (Au and NZ) – By Angel Zhong, Professor of Finance, RMIT University

    Warren Buffett, the 94-year-old investing legend and chief executive of Berkshire Hathaway, has announced plans to step down at the end of this year.

    His departure will mark the end of an era for value investing, an investment approach built on buying quality companies at reasonable prices and holding them for the long term.

    Buffett’s approach transformed Berkshire Hathaway from a small textile business in the 1960s into a giant conglomerate now worth more than US$1.1 trillion (A$1.7 trillion).

    He built his fortune backing US industry in energy and insurance and American brands, including big stakes in household names such as Coca-Cola, American Express and Apple.

    At Berkshire’s annual meeting at the weekend, held in an arena with thousands of devoted investors, Buffett named Greg Abel as his successor.

    Abel, 62, is currently chairman and chief executive of Berkshire Hathaway Energy, as well as vice chairman of Berkshire Hathaway’s vast non-insurance operations.

    He’s known for his disciplined, no-nonsense management style. The company’s board has now voted unanimously to approve the move.

    This changing of the guard comes at a pivotal moment. Donald Trump’s return to the US presidency has already delivered significant economic policy shifts.

    Meanwhile, questions about US economic dominance grow louder against China’s continued rise.

    The ‘Oracle of Omaha’

    Few names command as much respect in the world of finance as Warren Buffett. Born in Omaha, Nebraska, in 1930, Buffett displayed an early genius for numbers and investing. He bought his first stock at age 11.

    His investment philosophy – buying undervalued companies with strong fundamentals – would later earn him the nickname the “Oracle of Omaha” for his uncanny ability to predict market trends and identify winning investments years before others did.

    Value investing

    Buffett drew his investment approach from the value investment principles of British-born US economist Benjamin Graham.

    He preferred businesses with lasting advantages and a clear value proposition. Some of his key investments included insurance company GEICO, railroad company BNSF, and more recently Chinese electric vehicle maker BYD.

    He avoided speculative bubbles (such as the dotcom bubble of the late 1990s and, more recently, cryptocurrencies) and preached long-term patience to investors. As he famously wrote in a 1988 letter to shareholders:

    In fact, when we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

    Buffett’s guidance helped Berkshire navigate many economic booms and recessions. Over his six decades at the helm, the company delivered impressive compounded annual returns of almost 20% – virtually double those of the S&P 500 index.

    Beyond financial success, Buffett championed ethical business practices and pledged to donate more than 99% of his wealth through the Giving Pledge, which he cofounded with Bill Gates and Melinda French Gates.




    Read more:
    How Warren Buffett’s enormous charitable gifts reflect the ‘inner scorecard’ that has guided him up to the billionaire’s planned retirement


    Challenges to Buffett’s strategy in today’s world

    In an op-ed for the New York Times in 2008, Buffett famously shared the maxim that guides his investment decisions:

    Be fearful when others are greedy, and be greedy when others are fearful.

    But his strategy thrived in an era of increasing globalisation, free trade, and US economic supremacy. The world has shifted since Buffett’s heyday.

    There are concerns about the recent underperformance of value investing. Technology companies now dominate older industries.

    This raises questions about whether those who succeed Buffett can spot the next major industry disruptors.

    America first?

    Trump’s return as US president heralds major changes in economic policy. Trade restrictions might hurt some of Berkshire’s international investments. However, these same policies might benefit Buffett’s US-focused investments.

    The idea of US economic superiority also faces new questions. China may overtake the US economy in the 2030s. The US share of global economic output has fallen from about 22% in 1980 to about 15% today.

    Buffett’s “never bet against America” mantra faces new scrutiny.

    Warren Buffett discusses trade deficits and protectionism on May 3.

    The challenges for Buffett’s successor

    Abel inherits a company with about US$348 billion (A$539 billion) in cash. That’s a serious amount of capital to deploy wisely amid global economic uncertainty and Trump’s trade war.

    Abel will likely maintain Berkshire’s core values while updating its approach. His challenges include:

    1. Maintaining the “Buffett premium”: Abel lacks Buffett’s cult-like following among investors, which may gradually erode the additional value the market assigns to Berkshire due to Buffett’s leadership.

      Without Buffett’s reputation, Abel may face increased pressure to effectively deploy Berkshire’s massive cash pile in a still-expensive stock market, where valuations are high and finding bargains is harder than ever.

    2. Technological adaptation: while Berkshire has increased its technology investments over the years (including positions in Apple and Amazon), balancing its legacy holdings (such as Coca-Cola and railroads) with growth sectors (AI, renewables) remains challenging.

    3. Environmental concerns: Berkshire Hathaway’s heavy reliance on coal and gas-fired utilities has drawn growing criticism as investors and regulators demand cleaner energy solutions.

    4. Replicating the “golden touch”: Buffett’s genius wasn’t just in picking stocks. It was also in capital allocation, deal-making, and crisis management (for example, buying into Goldman Sachs during the global financial crisis). Can Abel replicate that?

    After Buffett

    Buffett’s principles – patience, intrinsic value and betting on America – are timeless. But the world has moved on. His successor must navigate geopolitical risks, technological disruption, and the rise of passive investing while preserving Berkshire’s unique culture.

    The post-Buffett era represents more than just a leadership change. It’s a test of whether Buffett’s principles can survive in an increasingly short-term, technology-dominated, and geopolitically complex world.

    Abel’s leadership will reveal the enduring power – or limitations – of Buffett’s philosophy.

    Angel Zhong 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. As Warren Buffett prepares to retire, does his investing philosophy have a future? – https://theconversation.com/as-warren-buffett-prepares-to-retire-does-his-investing-philosophy-have-a-future-255867

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: BW Offshore: 2025 Annual General Meeting – Notice

    Source: GlobeNewswire (MIL-OSI)

     2025 Annual General Meeting – Notice

    Notice is hereby given that the 2025 Annual General Meeting of BW Offshore Limited will be held at 18 Rebecca Road, Southampton, SN04, Bermuda, on 28 May 2025 at 2:00 p.m. (Bermuda time).

    Please see the attached documents in relation to the Annual General Meeting:

    1. Notice of the 2025 AGM
    2. Form of Proxy
    3. Chairman’s Letter
    4. Recommendation from the Nomination Committee

    For further information, please contact:
    Ståle Andreassen, CFO, +47 91 71 86 55

    IR@bwoffshore.com or www.bwoffshore.com

    About BW Offshore:
    BW Offshore engineers innovative floating production solutions. The Company has a fleet of 2 FPSOs with potential and ambition to grow. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets world-wide. BW Offshore has around 1,100 employees and is publicly listed on the Oslo Stock Exchange.

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

    Attachments

    The MIL Network

  • MIL-OSI Global: Why Zelensky – not Trump – may have ‘won’ the US-Ukraine minerals deal

    Source: The Conversation – Global Perspectives – By Eve Warburton, Research Fellow, Department of Political and Social Change, and Director, Indonesia Institute, Australian National University

    Last week, the Trump administration signed a deal with Ukraine that gives it privileged access to Ukraine’s natural resources.

    Some news outlets described the deal as Ukrainian President Volodymyr Zelensky “caving” to US President Donald Trump’s demands.

    But we see the agreement as the result of clever bargaining on the part of Ukraine’s war-time president.

    So, what does the deal mean for Ukraine? And will this be help strengthen America’s mineral supply chains?

    Ukraine’s natural resource wealth

    Ukraine is home to 5% of the world’s critical mineral wealth, including 22 of the 34 minerals identified by the European Union as vital for defence, construction and high-tech manufacturing.

    However, there’s a big difference between resources (what’s in the ground) and reserves (what can be commercially exploited). Ukraine’s proven mineral reserves are limited.

    Further, Ukraine has an estimated mineral wealth of around US$14.8 trillion (A$23 trillion), but more than half of this is in territories currently occupied by Russia.

    What does the new deal mean for Ukraine?

    American support for overseas conflict is usually about securing US economic interests — often in the form of resource exploitation. From the Middle East to Asia, US interventions abroad have enabled access for American firms to other countries’ oil, gas and minerals.

    But the first iteration of the Ukraine mineral deal, which Zelensky rejected in February, had been an especially brazen resource grab by Trump’s government. It required Ukraine to cede sovereignty over its land and resources to one country (the US), in order to defend itself from attacks by another (Russia).

    These terms were highly exploitative of a country fighting against a years-long military occupation. In addition, they violated Ukraine’s constitution, which puts the ownership of Ukraine’s natural resources in the hands of the Ukrainian people. Were Zelensky to accept this, he would have faced a tremendous backlash from the public.

    In comparison, the new deal sounds like a strategic and (potentially) commercial win for Ukraine.

    First, this agreement is more just, and it’s aligned with Ukraine’s short- and medium-term interests. Zelenksy describes it as an “equal partnership” that will modernise Ukraine.

    Under the terms, Ukraine will set up a United States–Ukraine Reconstruction Investment Fund for foreign investments into the country’s economy, which will be jointly governed by both countries.

    Ukraine will contribute 50% of the income from royalties and licenses to develop critical minerals, oil and gas reserves, while the US can make its contributions in-kind, such as through military assistance or technology transfers.

    Ukraine maintains ownership over its natural resources and state enterprises. And the licensing agreements will not require substantial changes to the country’s laws, or disrupt its future integration with Europe.

    Importantly, there is no mention of retroactive debts for the US military assistance already received by Ukraine. This would have created a dangerous precedent, allowing other nations to seek to claim similar debts from Ukraine.

    Finally, the deal also signals the Trump administration’s commitment to “a free, sovereign and prosperous Ukraine” – albeit, still without any security guarantees.

    Profits may be a long time coming

    Unsurprisingly, the Trump administration and conservative media in the US are framing the deal as a win.

    For too long, Trump argues, Ukraine has enjoyed US taxpayer-funded military assistance, and such assistance now has a price tag. The administration has described the deal to Americans as a profit-making endeavour that can recoup monies spent defending Ukrainian interests.

    But in reality, profits are a long way off.

    The terms of the agreement clearly state the fund’s investment will be directed at new resource projects. Existing operations and state-owned projects will fall outside the terms of the agreement.

    Mining projects typically work within long time frames. The move from exploration to production is a slow, high-risk and enormously expensive process. It can often take over a decade.

    Add to this complexity the fact that some experts are sceptical Ukraine even has enormously valuable reserves. And to bring any promising deposits to market will require major investments.

    What’s perhaps more important

    It’s possible, however, that profits are a secondary calculation for the US. Boxing out China is likely to be as – if not more – important.

    Like other Western nations, the US is desperate to diversify its critical mineral supply chains.

    China controls not just a large proportion of the world’s known rare earths deposits, it also has a monopoly on the processing of most critical minerals used in green energy and defence technologies.

    The US fears China will weaponise its market dominance against strategic rivals. This is why Western governments increasingly make mineral supply chain resilience central to their foreign policy and defence strategies.

    Given Beijing’s closeness to Moscow and their deepening cooperation on natural resources, the US-Ukraine deal may prevent Russia — and, by extension, China — from accessing Ukrainian minerals. The terms of the agreement are explicit: “states and persons who have acted adversely towards Ukraine must not benefit from its reconstruction”.

    Finally, the performance of “the deal” matters just as much to Trump. Getting Zelensky to sign on the dotted line is progress in itself, plays well to Trump’s base at home, and puts pressure on Russian President Vladimir Putin to come to the table.

    So, the deal is a win for Zelensky because it gives the US a stake in an independent Ukraine. But even if Ukraine’s critical mineral reserves turn out to be less valuable than expected, it may not matter to Trump.

    Eve Warburton receives funding from the Australian Research Council and the Westpac Scholars Trust.

    Olga Boichak is a director of the Foundation of Ukrainian Studies in Australia. She receives funding from the Australian Research Council and the Westpac Scholars Trust.

    ref. Why Zelensky – not Trump – may have ‘won’ the US-Ukraine minerals deal – https://theconversation.com/why-zelensky-not-trump-may-have-won-the-us-ukraine-minerals-deal-255875

    MIL OSI – Global Reports

  • MIL-OSI: 26/2025・Trifork Group: Interim report for the quarter ending 31 March 2025

    Source: GlobeNewswire (MIL-OSI)

    Trifork Group AG
    Company announcement no. 26/2025
    Schindellegi, Switzerland – 6 May 2025
    Interim Financial Report for the first quarter ending 31 March 2025

    Trifork Group reports revenue growth of 14.1% and EBITDA growth of 29.4% in Q1 2025

    CEO Jørn Larsen comments on the first quarter:
    “Q1 showed good progress toward our strategic ambition of becoming a more product- and solutions-led business. To support this direction, we revamped Trifork.com in Q1 to highlight our full range of products and platforms, and I invite you to explore our current offering. AI continues to break new ground, and we now discuss AI with most of our customers in one form or another. Our platforms Corax and AI Assist are seeing strong interest as they bring significant value to our customers very fast, in a very flexible, scalable, and secure way without customers needing to employ large data science teams.

    In Q1, we began to see the impact of several larger deals initiated in 2024. In Denmark, the good trend from Q4 continued in Q1, with the activities in the public sector increasing the most. The US business doubled its revenue and became the second-largest in the Group in Q1, proving that our IP-anchored strategy, executed in close collaboration with our Labs companies and global tech partners, can unlock new avenues of growth in revenue and profits.

    We have now completed most of the organizational changes announced last year and have identified cost-saving measures expected to deliver annual savings of EUR 10 million based on 2024 activity levels. For the remainder of 2025, we will continue to focus on further optimization and cost-efficiency across the Group, and I am encouraged by the strong and constructive cost savings efforts of our entire organization.”

    First quarter 2025

    • Trifork Group
      • In Q1 2025, Trifork Group revenue amounted to EURm 57.5, a net increase of 14.1% from Q1 2024, the combined result of an organic growth of 10.8% and an inorganic growth of 3.5%. In the quarter, Trifork had EURm 4.2 more revenue from hardware and third-party licenses compared to Q1 2024. Excluding these revenues, Group revenue growth was 5.9% in Q1 2025.
      • Trifork Group adjusted EBITDA amounted to EURm 6.9, corresponding to growth of 29.4% compared to Q1 2024. The margin was 11.9% (Q1 2024: 10.5%). No special items were recorded.
      • Trifork Group EBIT amounted to EURm 2.8, corresponding to growth of 95.5% compared to Q1 2024. The margin was 4.9% (Q1 2024: 2.8%).
    • Trifork Segment
      • In Q1 2025, adjusted EBITDA in the Trifork Segment amounted to EURm 7.4 (Q1 2024: EURm 5.8), corresponding to growth of 26.3%. The margin was 12.8% (Q1 2024: 11.6%).
      • Sub-segments
        • Inspire revenue increased by 25.0% to EURm 0.7 and realized an adjusted EBITDA of EURm -0.8 (Q1 2024: EURm -1.0).
        • Build revenue declined by -1.2% to EURm 38.3 and realized an adjusted EBITDA margin of 15.2% (Q1 2024: 15.7%).
        • Run revenue increased by 68.5% to EURm 18.5. Adjusted for hardware and third-party licenses, revenue growth was 33.9%. The adjusted EBITDA margin was 15.0% (Q1 2024: 13.1%).
    • Trifork Labs
      • In Q1 2025, fair value adjustment of Trifork Labs investments was EURm -0.1 (Q1 2024: EURm 2.0).
      • At 31 March 2025, the book value of active Labs investments amounted to EURm 82.7 (31 March 2024: EURm 73.4).

    The financial outlook for full-year 2025 provided on 28 February is maintained:

    • Revenue is expected to be in the range of EURm 215-225, equal to 4.4-9.3% total growth
    • Organic revenue growth is expected in the range of 2.9-7.8%
    • Adjusted EBITDA in Trifork Segment is expected in the range of EURm 32.0-37.0
    • EBIT in Trifork Group is expected to be in the range of EURm 14.5-19.5.

    The guidance does not include potential effects from new acquisitions or divestments.

    Main events in the first quarter of 2025

    • Inspire
      Q1 is seasonally a quarter with low conference activity. With more than 2 million views in Q1, the online GOTO universe have reached 83 million video views in total. At the end of the quarter, we had 1.1 million video subscribers. We are continuously sharpening our planning of events and have optimized our cost structure. Our business development efforts are anchored in technology partnerships, where workshop and conference presentations are central to the efforts. We hosted multiple events, including our Observability day in Copenhagen, and attended NVIDIA GTC together with Lenovo, who also co-attended an industrial conference in Germany with us. We held multiple events focusing on SAP.
    • Build
      Build revenue accounted for 66.6% of Group revenue in Q1 and declined by 1.2% compared to the same quarter last year. We spent the quarter focusing our Build activities closer to our own product offerings so that focus is more on implementation, integration, and customization of these and building individual extensions on top. Generally, corporates continued to take a cautious approach to IT spending in light of the global economic and geopolitical uncertainty, but our business development efforts made up for some of the private market weakness. Our public sector customer base primarily consists of Danish engagements. Danish public revenue grew 23.4% in Q1 compared to the same quarter last year and accounted for 47% of revenue in Denmark. In Q1, we announced new engagements with SBSYS (41 municipalities and two regions) and Aalborg University, and a new partnership with Cognizant focused on testing-as-a-service for implementation with KOMBIT (all Danish municipalities).
    • Run
      Run revenue accounted for 32.2% of Group revenue in Q1 and increased by 68.5% in Q1 compared to the same quarter last year (33.9% growth excluding revenues from third-party licenses and hardware, which can be volatile on a quarterly basis). In Q1, we revamped our website Trifork.com to increase focus on our products and platforms, which are central to our growth strategy and which provide more stability to our revenues as the licenses are sold on a recurring basis. Our Cloud Operations business has built a good pipeline supported by our Contain product offering, and it seems that the interest in cloud hosting in our Danish data centers increased in Q1. This was driven by both public and private customers. Our managed services security business continues to be in discussion with potential strategic partners to accelerate growth and market share, and we look forward to updating the market on the progress. Any potential deconsolidation is not included in the current financial guidance for the year. Overall, revenue within Hosting and Security operations increased by 23.2% in Q1.
    • Trifork Labs
      No new investments or exits were completed in Trifork Labs in Q1. Activities in the quarter primarily included reviewing investment proposals from new or existing investors in individual Labs companies in relation to upcoming financing rounds, including the announced EURm 11.5 financing round in Dawn Health led by existing investors Chr. Augustinus Fabrikker and the Export and Investment Fund of Denmark (EIFO). We see this as a testament to continued strong belief in the company’s potential after showing significant progress with large pharma partners such as Merck and Novartis. The investment is aimed at supporting Dawn Health’s strategy to deliver its platform and product suite through a SaaS model, while continuing to invest in further offerings within the Dawn Product Suite.

    Results presentation
    Trifork will host a results presentation and Q&A session with CEO Jørn Larsen and CFO Kristian Wulf-Andersen today, 6 May 2025 at 11:00 CEST in a live webcast that can be accessed via the following link, or via the investor website:

    https://trifork.zoom.us/j/96719631909?pwd=sI6nAeNybYebaVXxyFn3Wp8tpU5BOL.1#success

    A recording will be made available on our investor website. More information can be found at https://investor.trifork.com/events/.

    Investor & Media contact
    Frederik Svanholm, Group Investment Director
    frsv@trifork.com, +41 79 357 7317


    About Trifork Group

    Trifork is a pioneering and global technology partner, empowering enterprise and public sector customers with innovative digital solutions. With 1,215 professionals across 71 business units in 16 countries, Trifork specializes in designing, building, and operating advanced software across sectors such as public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. The Group’s R&D arm, Trifork Labs, drives innovation by investing in and developing synergistic, high-potential technology companies. Trifork also owns GOTO, which inspires the global tech community through conferences and an online video channel with over 1.1 million subscribers and 83 million views. Trifork Group AG is publicly listed on Nasdaq Copenhagen. Learn more at trifork.com.

    Attachments

    The MIL Network

  • MIL-OSI Russia: Trade turnover between Shanghai and ASEAN countries continues to grow

    Translation. Region: Russian Federal

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

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

    SHANGHAI, May 6 (Xinhua) — In the first quarter of 2025, trade between Shanghai and ASEAN countries increased by 7.1 percent year on year, significantly exceeding the average foreign trade figures of the Chinese metropolis. By the end of 2024, the city’s foreign trade growth was 6.9 percent, according to Shanghai Customs.

    Customs officials attribute the continued growth in trade turnover between Shanghai and ASEAN not only to geographical proximity, but also to the implementation of the Regional Comprehensive Economic Partnership (RCEP) and the work of the China-ASEAN Free Trade Area (CAFTA).

    Customs statistics show growth in trade between Shanghai and ASEAN in all three main forms: regular, duty-free and tolling. In 2024, foreign-invested enterprises and private companies, actively relying on the opportunities of RCEP and CAFTA, played the leading role in the metropolis’s foreign trade.

    The complementary production structure and the fact that Shanghai and ASEAN differ in the division of labor have also had a positive impact on bilateral trade and have been recognized as the internal driving force behind its growth. For example, in 2024, Shanghai exported 162.63 billion yuan (US$1 is about 7.2 yuan) worth of machinery and electronics products to ASEAN countries, while importing 166.55 billion yuan worth of similar products. However, while the bulk of exports were microchips, mobile phones, and electrical control equipment, significant growth was observed in imports of semiconductor machinery equipment and flat-panel displays. Machinery and electronics products accounted for over 60 percent of the trade turnover between Shanghai and ASEAN.

    Vietnam, Singapore and Malaysia were Shanghai’s largest trading partners among ASEAN countries. As of 2024, their share in trade turnover between the parties reached 62.5 percent.

    The total bilateral trade volume last year was 582.79 billion yuan, accounting for 13.7 percent of Shanghai’s total foreign trade, up 0.7 percentage points from 2023 and making ASEAN the city’s second-largest trading partner after the EU. -0-

    MIL OSI Russia News

  • MIL-OSI Australia: New flights to take off with upgrades to Perth airport

    Source: Australian Attorney General’s Agencies

    The Albanese Labor Government is investing $24.2 million dollars to deliver additional border services at airports, including a major boost to Perth airport to help cement the city as a world class tourist hub.

    The investment in additional staffing and equipment at Perth Airport will increase border and biosecurity capacity and in turn allow the airport to host more international flights.

    We are pleased that as a result of this investment, Qantas has today announced that it will recommence flights to Johannesburg, South Africa and Auckland New Zealand.

    Demand for services at Perth airport is rapidly growing. In January 2025, Perth airport saw 515,581 international passengers, breaking the record high set just the previous month in December 2024.

    The Government’s investment will allow Australian Border Force and the Department of Agriculture, Fisheries and Forestry, to ensure smooth operation for trade and tourism, while protecting our border from threats to Australia’s safety and security.

    This investment and the growth in flights is expected to support hundreds of new jobs in WA and enable the airport to continue processing record breaking numbers of passengers.

    Quotes attributable to the Minister for Trade and Tourism, Don Farrell:

    “More international flights into Perth is an outstanding outcome for our tourism industry.

    “This will deliver more tourists into Perth, additional connections for expat communities and another opportunity to showcase our country to the world.

    “The Albanese Labor Government has been working hard to see our tourism industries continue to grow and increasing international connectivity is an important part of that.”

    Quotes attributable to the Minister for Home Affairs and Immigration, Tony Burke:

    “This funding allows the capabilities of the Australian Border Force to grow in line with the sustained growth in passenger numbers at Perth Airport.

    “Investment in travel supports local businesses through attracting international tourism, and provides West Australians more job opportunities and more choices for their holidays.”

    Quotes attributable to the Minister for Agriculture, Fisheries and Forestry Julie Collins:

    “Every year millions of travellers come to Australia, and every year our frontline staff intercept biosecurity risks to our farmland and environment.

    “This funding will mean we can maintain our biosecurity standards at these airports and seaports, which is critical to protecting Australia from exotic pests or disease outbreaks.

    “It builds on the more than $1 billion in funding that the Albanese Labor Government has invested in Australia’s biosecurity system since 2022, cleaning up the mess the Liberals and Nationals left it in.”

    MIL OSI News

  • MIL-OSI New Zealand: New High Commissioner to Kiribati announced

    Source: NZ Music Month takes to the streets

    Foreign Minister Winston Peters has announced Pati Gagau as New Zealand’s next High Commissioner to Kiribati.

    “Our diplomats play a critical role in advancing New Zealand’s interests overseas,” Mr Peters says.

    “Nowhere is this truer than in the Pacific, where we strive to work with our Pacific partners to forge a more secure, more prosperous and more resilient future for our region.”

    Mr Gagau has held a number of senior roles at the Ministry of Foreign Affairs and Trade, managing development programmes and working across many of New Zealand’s important bilateral relationships in the Pacific. 

    Mr Gagau has previously served as New Zealand’s Deputy Head of Mission in Samoa. 

    MIL OSI New Zealand News

  • MIL-OSI Russia: The central parity rate of the yuan against the US dollar strengthened by 6 basis points

    Translation. Region: Russian Federal

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

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

    BEIJING, May 6 (Xinhua) — The central parity rate of the Chinese yuan against the U.S. dollar strengthened by 6 basis points to 7.2008 yuan per dollar on Thursday from the previous trading day, according to the China Foreign Exchange Trading Center.

    On the previous trading day, the yuan to dollar exchange rate was 7.2014 yuan per dollar.

    By order of the People’s Bank of China (PBOC, Central Bank), the China Foreign Exchange Center published data according to which the exchange rate of the yuan against other major currencies on the country’s interbank foreign exchange market was: 8.1535 yuan per euro, 5.0269 yuan per 100 yen, 0.92903 yuan per Hong Kong dollar, 9.5808 yuan per pound sterling, 11.1706 rubles per yuan. -0-

    MIL OSI Russia News

  • MIL-OSI USA: News 05/5/2025 Blackburn Praises Commerce Committee’s Passage of Her Bills to Protect Consumers in the Online Ticket Marketplace and Enhance 9-1-1 Emergency Response System

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn.) released the following statement after her bipartisan Mitigating Automated Internet Networks for (MAIN) Event Ticketing Act to strengthen consumer protections in the online ticket marketplace and Enhancing First Response Act to update the classification of 9-1-1 dispatchers passed out of the Senate Commerce Committee:
    “Fans shouldn’t have to fight bots and scammers when trying to buy tickets online, and I’m thrilled the Commerce Committee has moved the MAIN Event Ticketing Act one step closer to becoming law so we can protect consumers in the online ticket marketplace. The Commerce Committee also passed my bipartisan Enhancing First Response Act, which would make important updates to our 9-1-1 emergency reporting system and prevent service disruptions,” said Senator Blackburn. 
    MAIN EVENT TICKETING ACT
    In 2016, President Obama signed Senator Blackburn’s legislation, the Better Online Ticket Sales (BOTS) Act, into law, which prohibits ticket scalpers from using software to purchase high volumes of tickets.
    Creating reporting requirements whereby online ticket sellers must report successful bot attacks to the Federal Trade Commission (FTC);
    Requiring the FTC to share consumer complaints submitted through their website to state attorneys general;
    Enacting data security requirements for online ticket sellers and requires the sharing of information between the FTC and law enforcement; and
    Requiring a report to Congress on BOTS enforcement. 
    The MAIN Event Ticketing Act is co-sponsored by U.S. Senator Ben Ray Luján (D-N.M.).  
    Click here for bill text.
    ENHANCING FIRST RESPONSE ACT
    The Enhancing First Response Act would:
    Update the classification of 9-1-1 dispatchers in the Standard Occupational Classification (SOC) from clerical workers to protective service workers to better reflect life-saving work performed by them each day;
    Require the Federal Communications Commission (FCC) to hold an annual hearing and issue a report after major natural disasters on 9-1-1 unreachability and make recommendations to improve the resiliency of 9-1-1 systems to prevent future service disruptions;
    Require the FCC to study unreported 9-1-1 outages and develop recommendations to improve outage reporting and communication between mobile carriers experiencing network outages and 9-1-1 centers.
    The Enhancing First Response Act is sponsored by U.S. Senator Amy Klobuchar (D-Minn.).
    Click here for bill text.
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    MIL OSI USA News