Perfect Diary, Global Leader in Biotec Technology, Presents lts 3rd Generation of Makeup Skinification
Marking Perfect Diary's European debut, this milestone event convened global leaders across science, business, and media. Yatsen Group Founder, Chairman and CEO David Huang joined Chief Scientific Officer Jing Cheng and Chief Marketing Officer Christy Sun alongside distinguished guests including representatives from the Chinese Embassy in France and Business France's Asie Desk for Inward Investment; Nobel Laureate in Chemistry Prof. Dr. Hartmut Michel of the German National Academy of Sciences; pharmaceutical technology expert Dr. Annabelle L'Hermitte; youth entrepreneur and philanthropy initiator Ms. Laurinda Ho; Frost & Sullivan France Consulting Director Benoît Butruille; and ELLE Omnimedia Editorial Director Sun Zhe. Together, they witnessed Perfect Diary unveiling the world's first 3rd Generation Biotec™ Technology. This breakthrough integrates 5 Nobel Prize Inspired Biotechnologies to create a breathable skin-nourishing membrane for face and lip, delivering 24 Hours Skin-Loving Luxury™ through Perfect Diary's signature Makeup Skinification Aesthetics™.
According to reports, the technological upgrade to 3rd Generation Biotec™ Technology is backed by: 1 Makeup Skinification Research Report; 2 globally significant papers published in Nature Medicine (IF 58.7) and Science Bulletin (IF 18.8); 5 Nobel Prize Inspired Technologies; 7 Biotec™ technology patents; interventions addressing the 9 Hallmarks of Aging; collaboration among 23 Authoritative Research Institutions; and joint research by 42 Leading Scientists.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
5 minutes ago
- CNBC
CNBC's The China Connection newsletter: Beijing wants more babies — are businesses ready for Gen Z parents?
From makers of baby strollers to coding apps, Chinese companies are facing a new kind of customer: the Gen Z parent, with different ideas about raising children and spending on them. China's young parents are digital-natives, have a global outlook and are prefer experiential learning. That mindset is shaping how — and where — they spend. "When you have younger, more digital, international and cosmopolitan parents, their spending patterns are very different [from those of older generations]," said Joe Ngai, chairman of Greater China at McKinsey & Company. Many now prioritize children's experiences, such as golf lessons and ski trips, he added. "We are seeing more spending on the per-kid level, [creating] a more premium market," said Ngai. Businesses catering to enrichment program, extracurriculars and family-centered travel are set to benefit the most, he said. For businesses selling baby formula, cribs, or maternity wear, lower fertility rates have been a drag on growth, still China in 2024 saw nearly three times as many newborns year as the U.S. — a scale that makes its baby-care sector a prize too big to ignore. The baby-care and maternity market was estimated to reach 4.63 trillion yuan (about $645 billion) in 2025, representing around 7% annual growth rate, according to an industry report by iResearch in February. The initial boost from Beijing's stimulus will likely be seen in baby-care and maternity products, before expanding into areas such as pediatric healthcare, early childhood education, insurance products tailored to minors, and technology services designed to support family life. "Think strollers and formula today, but pre-K, private tutoring and family travel tomorrow — all the way to digital learning tools [such as coding apps] and smart parenting apps," said Han Shen Lin, Shanghai-based China Country Director at business consultancy The Asia Group. Parents are also becoming more selective and demanding when it comes to what they buy. Before committing to a product, the younger Chinese parents tend to spend more time comparing options, scrutinizing details and seeking out peer reviews online, said Andy Li, principal at Oliver Wyman in Shanghai. "New parents have become more discerning." That has raised the bar for brands as it's no longer enough to offer quality, companies must also explain why their products stand out. "How to differentiate your proposition, your products against other players in the market has been a major challenge," Li said, noting that giving parents more transparency into what they are buying, especially when it comes to nutrition ingredients, will drive first purchase, ensure retention and brand loyalty. That heightened awareness plays into long-standing concerns over product safety in China — an issue still resonating with Chinese parents nearly two decades after an infant formula scandal in 2008. "For middle-class families still haunted by the 2008 infant formula scandal, many continue to choose foreign brands," said Yaling Jiang, a China-focused independent consumer analyst. In a sign of how quickly public sentiment can shift, driven by the tech-savvy parents, some domestic baby-care brands raised prices days after Beijing rolled out new family subsidies, drawing a swift backlash on social media. The price of one brand of baby wipes jumped from 39 yuan on July 31 to 119 yuan on Aug. 1, according to Manmanmai, an e-commerce price tracker, while a local formula powders' price leapt more than 50% in days. Young parents accused companies of "ripping off the subsidies" before the money has even arrived, with some calling for boycotts. Several brands have since apologized, describing the increases as periodic adjustments. But that backlash highlights a generational shift: Gen-Z parents are value-driven, social media-savvy and quick to call out brands they believe cross the line. In a first for the country, China last month launched a nationwide child-rearing subsidy program, handing out 3,600 yuan ($503) a year for every child under three. It was the first time Beijing extended such subsidy for the firstborn child, with past measures targeting couples with second or third child. The government is betting on the subsidy to reduce the financial strain of parenting and ease what it calls the "fertility anxieties" of young couples. Separately, Beijing on Tuesday announced tuition fees waiver for children in their final year at public preschools and some private kindergartens, starting as soon as the upcoming fall semester. The measures supplement China's efforts to reduce childcare costs at a time when the country is staring at a demographic crisis, fueled by a slide in birth rates. China has seen three consecutive years of population decline, and seven consecutive years of birth rate declines, with a modest rebound in 2024. Muted birth rates also stem from an alarming drop in marriage rates, which fell to the lowest level in almost half a century last year with just 6.1 million new couples. Births dropped to 9.7 million last year — a little over half from the 18.8 million in 2016 when China scrapped its one-child policy that had restricted the size of families — according to Economist Intelligence Unit's estimates based on official data, while the fertility rate is just above 1.0. Fertility rate refers to the average number of children a woman would have in her lifetime. In recent years, China has raised its birth quota to three per couple, introduced tax breaks for childcare and moved to curb after-school tutoring costs. Local officials have tested even bolder incentives, from 10,000 yuan first-baby bonuses in Inner Mongolia to monthly stipends for larger families in Shenyang. But experts say financial incentives alone aren't enough to change minds, particularly among educated women in urban cities, who have continued to face tough choices between career progression, high childcare cost and the burden of eldercare. Millennials and Gen Zs are also part of the so-called "sandwich generation," balancing care for both aging parents and young children. "When you've still got elderly parents to support because there's not a particularly supportive pension system, then a lot of your incomes going up there, rather than, starting your own family," said Harry Murphy Cruise, head of economic research at Oxford Economics. The cost of raising a child until they are 18 relative to per capita GDP is around 6.3 times in China versus 4.11 times in the U.S., according to a population research think tank. Hiring help in tier-1 cities like Shanghai has also been priced out of reach for most dual-income households, said Asia Group's Lin. "For highly-educated, single millennial and Gen Z women who haven't had children, there's a growing awareness of the mental and physical burdens that come with marriage and childbirth," said Jiang. The 3,600 yuan subsidy only covers the cost of about 10 cans (800 to 900 grams each) of infant formula, she pointed out. For now, Beijing's bet is that a little extra cash in parents' pocket — and the spending it triggers — might at least give the country's birth rates a short-term boost, even if it doesn't produce a baby boom. George Chen, partner and co-chair of digital practice at The Asia Group, said that Nvidia CEO Jensen Huang is following Apple CEO Tim Cook's playbook in navigating U.S.-China tensions. Neil Thomas from Asia Society unpacked what matters most to China's President Xi Jinping and why he's seemingly absent on a global stage. Winnie Wu, chief China equity strategist of BofA Securities, explained why she thinks investors shouldn't chase the recent rally in the China markets. China's BYD posted its first decline in monthly deliveries. In July, the leading Chinese EV maker shipped 341,030 units, around 10% lower than 377,628 in June. Domestic competitors Li Auto and Nio also recorded a drop in deliveries. Nvidia denies China's accusation that its chips have a 'kill switch.' The Cyberspace Administration of China said last week that it needed Nvidia to provide documents on what it called vulnerabilities in the firm's H20 AI chip, which is targeted at the Chinese market. Chinese text-to-video AI models are topping scoreboards. TikTok parent ByteDance hold the first and third spots in research firm Artificial Analysis' top-ranked text-to-video generative AI models, while Beijing-based Kuaishou's Kling AI ranks China and Hong Kong stocks inched higher amid mixed trading in the region as investors digested fresh tariff comments from U.S. President Donald Trump. Mainland China's CSI 300 is up 0.18%, while Hong Kong's Hang Seng Index — which includes major Chinese companies — had gained 0.17% as of 12:19 p.m. local time (12:19 a.m. ET). The mainland benchmark is up 4.28% year to date, data from LSEG 7: Trade data for July Aug. 8-12: World Robot Conference 2025 Aug. 9: CPI, WPI for July
Business Wire
33 minutes ago
- Business Wire
Wolters Kluwer survey reveals key drivers of job satisfaction among Dutch accounting professionals
HOEVELAKEN, Netherlands--(BUSINESS WIRE)-- Wolters Kluwer Tax & Accounting Netherlands today released the results of its latest survey, 'Work Pressure or Job Satisfaction?', offering a revealing look into what drives happiness—and frustration—among accounting professionals in the Netherlands. The survey, conducted in May 2025, gathered insights from professionals across a range of roles and firm sizes, providing a snapshot of the sector's evolving expectations and challenges. 'The future of the accounting profession calls for greater focus on employee well-being and educational innovation,' said Jeffrey Smit, Vice President & General Manager, Wolters Kluwer Tax & Accounting, Europe Region West. 'True gains come from sustainable employability, future-focused expertise, and job satisfaction. Today's accountant is no longer just a number-cruncher, but a savvy advisor who brings together data, technology, and sustainability.' Key Findings: The average job satisfaction score was 6.6 out of 10. Top sources of satisfaction include a positive company atmosphere (54%), interesting work (52%), and appreciation from colleagues or clients (41%). However, 79% of respondents reported excessive workloads, and 88% felt the daily impact of staff shortages—with more than half saying it significantly affects their work. Automation is seen as a major contributor to job satisfaction, with 98% saying it helps to some extent, giving it an average satisfaction rating of 7.1. Energy drains and frustrations were also explored. Tight deadlines and work pressure (29%), endless small tasks (20%), and technical issues (13%) were cited as the biggest sources of daily fatigue. Many respondents expressed a desire for less workload, better leadership, and clearer development paths. Generational differences emerged as another theme, with 66% noting friction around ambition and work-life balance expectations. Meanwhile, 88% of respondents reported feeling the effects of staff shortages, and 54% said it strongly impacts their daily workload. Automation and AI are seen as essential tools for the future. While invoice processing and reporting are already widely automated, participants expressed a strong desire to further automate customer input and file management. The survey was conducted by Wolters Kluwer and complements recent findings from its broader Future Ready Accountant report, which includes responses from over 2,300 global participants. That report shows the Netherlands leading in digital adoption, with 55% of firms fully using cloud technology—well above the European average of 31%—but lagging in educational investment. Download the full report and explore actionable insights for building a more resilient and satisfied workforce: 'Work Pressure or Job Satisfaction?' About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit and follow us on LinkedIn, Facebook, YouTube and Instagram.
Business Wire
33 minutes ago
- Business Wire
ICL Reports Second Quarter 2025 Results
TEL AVIV, Israel & ST. LOUIS--(BUSINESS WIRE)-- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today reported its financial results for the second quarter ended June 30, 2025. Consolidated sales were $1.8 billion, up ~$80 million versus the prior year. Operating income was $181 million versus $211 million of operating income in the second quarter of last year, with adjusted operating income of $201 million versus $225 million. For the second quarter, net income attributable to shareholders was $93 million versus $115 million in the prior year, with adjusted net income of $110 million compared to $126 million. Adjusted EBITDA was $351 million versus $377 million. Diluted earnings per share were $0.07 versus $0.09 in the second quarter of last year, with adjusted diluted EPS of $0.09 versus $0.10. 'For the second quarter, ICL delivered both a year-over-year and sequential increase in sales, against a backdrop of generally positive trends in most markets. Results were once again led by our specialties-driven businesses. Combined, our Industrial Products, Phosphate Solutions and Growing Solutions businesses reported year-over-year growth in sales for both the second quarter and first half of the year. For our Potash segment, second quarter sales were lower versus the prior year, due to lower quantities and as we continued to supply potash to India and China at 2024 contract prices. We expect sales for the Potash segment to improve in the third quarter, due to an increase in the prices for both the 2025 contracts with India and China and for spot transactions," said Elad Aharonson, president and CEO of ICL. 'For the most part, second quarter trends were a continuation of the first quarter and in-line with expectations. Looking toward the second half of the year, we expect to gradually benefit from price improvement and to continue to focus on our regional-specific specialties-driven businesses.' The company reiterated its guidance for specialties-driven EBITDA of between $0.95 billion to $1.15 billion for full year 2025. For Potash, ongoing geopolitical unrest – and a brief period of regional conflict – impacted production in Israel. For 2025, the company now expects sales volumes of between 4.3 million and 4.5 million metric tons. (1a) Key Financials US$M Ex. per share data 2Q'25 2Q'24 Sales $1,832 $1,752 Gross profit $554 $568 Gross margin 30% 32% Operating income $181 $211 Adjusted operating income (1) $201 $225 Operating margin 10% 12% Adjusted operating margin (1) 11% 13% Net income attributable to shareholders $93 $115 Adjusted net income attributable to shareholders (1) $110 $126 Adjusted EBITDA (1) $351 $377 Adjusted EBITDA margin (1) 19% 22% Diluted earnings per share $0.07 $0.09 Diluted adjusted earnings per share (1) $0.09 $0.10 Cash flows from operating activities (2) $269 $316 Expand (1) Adjusted operating income and margin, adjusted net income attributable to shareholders, adjusted EBITDA and margin, and diluted adjusted earnings per share are non-GAAP financial measures. Please refer to the adjustments table and disclaimer. (2) See "Condensed consolidated statements of cash flows (unaudited)" in the appendix below. Expand Industrial Products Second quarter 2025 Sales of $319 million vs. $315 million. EBITDA of $69 million vs. $74 million. Stable performance was in-line with first quarter trends and market expectations. Key developments versus prior year Flame retardants: Overall sales decreased slightly, as bromine-based product sales decreased, with higher prices unable to offset lower volumes and as the construction end-market remained soft. Sales of phosphorous-based solutions increased, as higher volumes and prices followed the implementation of duties on Chinese imports – especially in the United States. Elemental bromine: Sales decreased slightly year-over-year, as lower volumes were only partially offset by higher prices. Clear brine fluids: Sales increased, primarily due to higher volumes, mainly in the United States. Specialty minerals: Stable sales reflected steady end-market demand and were in-line with the prior year. Potash Second quarter 2025 Sales of $383 million vs. $422 million. EBITDA of $115 million vs. $118 million. Grain Price Index decreased 17.2% year-over-year, with corn up 2.3%, while rice, soybeans and wheat were down 27.0%, 11.8% and 18.4%, respectively. On a sequential basis, the Index declined 3.3%, with corn, rice and wheat down 2.0%, 4.6% and 6.5%, respectively, while soybeans increased 3.3%. Key developments versus prior year Potash price: $333 per ton (CIF). Up 11% both sequentially and year-over-year. Potash agreements ICL continued to fulfill its 2024 annual contracts with China and India, and the prices in these agreements were lower than market rates, which improved as the second quarter progressed. In June, ICL reached an agreement with IPL in India, to supply an aggregate of 400,000 metric tons of potash at $349 per metric ton – in-line with current market prices in India. Also in June, ICL signed contracts with its Chinese customers to supply 750,000 metric tons of potash at $346 per metric ton, which aligns with recent contract settlements in China. Potash sales volumes: 971 thousand metric tons. Completed annual maintenance shutdown in Israel. Decreased by 182 thousand metric tons, with lower volumes mainly to China but an increase in volumes to Europe. ICL Dead Sea Production decreased, due to operational challenges primarily related to ongoing war related issues, the annual maintenance shutdown, and a brief period of regional unrest in June. ICL Iberia Production was in-line with the prior year but up sequentially, as efficiency efforts remain on track. Phosphate Solutions Second quarter 2025 Sales of $637 million vs. $572 million. EBITDA of $134 million vs. $146 million. Year-over-year and sequential growth in sales driven by strength in commodities, while specialties results were lower but in-line with market dynamics. Key developments versus prior year White phosphoric acid: Sales increased slightly, as volume growth in all major regions offset lower prices. Industrial phosphates: Sales increased, as higher volumes – particularly in North America and China – offset lower prices. Food phosphates: Despite higher volumes, sales were flat due to lower market prices, however, products for both dairy- and plant-protein markets continued to see good growth. Battery materials: Sales increased in China year-over-year, reflecting both higher volumes and prices, as the market continued to grow. Commodity phosphates: Overall phosphate prices strengthened significantly during the quarter, supported by favorable weather conditions across most key markets and as China continued to restrict exports. Growing Solutions Second quarter 2025 Sales of $540 million vs. $494 million. EBITDA of $56 million vs. $45 million. Year-over-year growth driven by continued focus on innovative, regional solutions. Key developments versus prior year Brazil: Sales increased, as higher prices offset lower volumes, while exchange rate fluctuations impacted gross profit. Europe: Sales increased, with higher prices offsetting lower volumes, while gross profit increased, due to improved mix, including higher sales of specialty agriculture products. North America: Sales increased, due to higher volumes, favorable pricing and the July 2024 acquisition of Custom Ag Formulators, with improved gross profit across the region, despite ongoing tariff-related issues and a challenging ag economy. Asia: Sales in-line with the prior year, with improved product mix – including an increase in sales of specialty ag products – contributing to higher gross profit. Product trends: Specialty agriculture sales increased, with higher volumes in most major regions and higher prices in Europe and for micronutrients in Brazil. Turf and ornamental sales increased, with turf and landscape experiencing higher volumes, while higher prices for ornamental horticulture offset lower volumes. Financial Items Financing Expenses Net financing expenses for the second quarter of 2025 were $13 million, down versus $33 million in the corresponding quarter of last year, with the decrease primarily due to exchange rate differences net of hedging transactions. Tax Expenses Reported tax expenses in the second quarter of 2025 were $60 million, reflecting an effective tax rate of 36%, compared to $48 million in the corresponding quarter of last year, reflecting an effective tax rate of 27%. The relatively higher effective tax rate in the quarter was primarily due to the appreciation of the Israeli shekel versus the U.S. dollar. For the first half of the year, the reported effective tax rate was ~32%. Available Liquidity ICL's available cash resources, which are comprised of cash and deposits, unutilized revolving credit facility, and unutilized securitization, totaled $1,466 million, as of June 30, 2025. Outstanding Net Debt As of June 30, 2025, ICL's net financial liabilities amounted to $2,214 million, an increase of $363 million compared to December 31, 2024. Dividend Distribution In connection with ICL's second quarter 2025 results, the Board of Directors declared a dividend of 4.26 cents per share, or approximately $55 million, versus 4.88 cents per share, or approximately $63 million, in the second quarter of last year. The dividend will be payable on September 17, 2025, to shareholders of record as of September 3, 2025. About ICL ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2024 revenue totaled approximately $7 billion. For more information, visit ICL's website at To access ICL's interactive CSR report, visit You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram. Guidance (1a) The company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying certain amounts that are necessary for such reconciliation, in particular, because special items such as restructuring, litigation, and other matters, used to calculate projected net income (loss) vary dramatically based on actual events, the company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material, and therefore could result in projected GAAP net income (loss) being materially less than projected adjusted EBITDA (non-GAAP). The guidance speaks only as of the date hereof. The company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. The company provides guidance for specialties-driven EBITDA, which includes Industrial Products, Growing Solutions and Phosphate Solutions. For the Potash business, the company is providing sales volume guidance. Non-GAAP Statement The company discloses in this quarterly report non-IFRS financial measures titled adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA. Management uses adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA to facilitate operating performance comparisons from period to period. The company calculates adjusted operating income by adjusting operating income to add certain items, as set forth in the reconciliation table under 'Adjustments to reported operating, and net income (non-GAAP)' below. Certain of these items may recur. The company calculates adjusted net income attributable to the company's shareholders by adjusting net income attributable to the company's shareholders to add certain items, as set forth in the reconciliation table under 'Adjustments to reported operating, and net income (non-GAAP)' below, excluding the total tax impact of such adjustments. The company calculates diluted adjusted earnings per share by dividing adjusted net income by the weighted-average number of diluted ordinary shares outstanding. Adjusted EBITDA is calculated as net income before financing expenses, net, taxes on income, share in earnings of equity-accounted investees, depreciation and amortization, and certain adjustments presented in the reconciliation table under 'Consolidated adjusted EBITDA, and diluted adjusted earnings per share for the periods of activity' below, which were adjusted for in calculating the adjusted operating income. You should not view adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share or adjusted EBITDA as a substitute for operating income or net income attributable to the company's shareholders determined in accordance with IFRS, and you should note that the company's definitions of adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA may differ from those used by other companies. Additionally, other companies may use other measures to evaluate their performance, which may reduce the usefulness of the company's non-IFRS financial measures as tools for comparison. However, the company believes adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA provide useful information to both management, and investors by excluding certain items that management believes are not indicative of ongoing operations. Management uses these non-IFRS measures to evaluate the company's business strategies and management performance. The company believes these non‑IFRS measures provide useful information to investors because they improve the comparability of financial results between periods and provide for greater transparency of key measures used to evaluate performance. The company presents a discussion in the period-to-period comparisons of the primary drivers of change in the company's results of operations. This discussion is based in part on management's best estimates of the impact of the main trends on the company's businesses. The company has based the following discussion on its financial statements. You should read such discussion together with the company's financial statements. Forward-looking Statements This announcement contains statements that constitute 'forward‑looking statements', many of which can be identified by the use of forward‑looking words such as 'anticipate', 'believe', 'could', 'expect', 'should', 'plan', 'intend', 'estimate', 'strive', 'forecast', 'targets' and 'potential', among others. The company is relying on the safe harbor provided in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in making such forward-looking statements. Forward‑looking statements appear in a number of places in this announcement and include, but are not limited to, statements regarding the company intent, belief or current expectations. Forward‑looking statements are based on the company management's beliefs and assumptions and on information currently available to the company management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward‑looking statements due to various factors, including, but not limited to: Changes in exchange rates or prices compared to those we are currently experiencing; the effects of the ongoing security situation in Israel, including the nature and duration of related conflicts; loss or impairment of business licenses or mineral extractions permits or concessions; volatility of supply and demand and the impact of competition; the difference between actual reserves and the company reserve estimates; natural disasters and cost of compliance with environmental regulatory legislative and licensing restrictions including laws and regulation related to, and physical impacts of climate change and greenhouse gas emissions; failure to "harvest" salt which could lead to accumulation of salt at the bottom of the evaporation Pond 5 in the Dead Sea; disruptions at the company seaport shipping facilities or regulatory restrictions affecting the company ability to export the company products overseas; general market, political or economic conditions in the countries in which the company operates, including tariffs and trade policies; price increases or shortages with respect to the company principal raw materials; delays in termination of engagements with contractors and/or governmental obligations; the inflow of significant amounts of water into the Dead Sea which could adversely affect production at the company plants; labor disputes, slowdowns and strikes involving the company employees; pension and health insurance liabilities; disruptions from pandemics that may impact the company sales, operations, supply chain and customers; changes to governmental incentive programs or tax benefits, creation of new fiscal or tax related legislation; and/or higher tax liabilities; changes in the company evaluations and estimates, which serve as a basis for the recognition and manner of measurement of assets and liabilities; failure to integrate or realize expected benefits from mergers and acquisitions, organizational restructuring and joint ventures; currency rate fluctuations; rising interest rates; government examinations or investigations; disruption of the company, or the company service providers', information technology systems or breaches of the company, or the company service providers', data security; failure to retain and/or recruit key personnel; inability to realize expected benefits from the company cost reduction program according to the expected timetable; inability to access capital markets on favorable terms; cyclicality of the company businesses; changes in demand for the company fertilizer products due to a decline in agricultural product prices, lack of available credit, weather conditions, government policies or other factors beyond the company control; sales of the company magnesium products being affected by various factors that are not within the company control; the company ability to secure approvals and permits from the authorities in Israel to continue the company phosphate mining operations in Rotem Amfert Israel; volatility or crises in the financial markets; hazards inherent to mining and chemical manufacturing; the failure to ensure the safety of the company workers and processes; litigation, arbitration and regulatory proceedings; exposure to third party and product liability claims; product recalls or other liability claims as a result of food safety and food-borne illness concerns; insufficiency of insurance coverage; closing of transactions, mergers and acquisitions; war or acts of terror and/or political, economic and military instability in Israel and its region; including the current state of war declared in Israel and any resulting disruptions to the company supply and production chains; filing of class actions and derivative actions against the company, its executives and Board members; the company is exposed to risks relating to its current and future activity in emerging markets; and other risk factors discussed under 'Item 3 - Key Information— D. Risk Factors" in the company's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 13, 2025 (the 'Annual Report'). Forward-looking statements speak only as of the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. Investors are cautioned to consider these risks and uncertainties and to not place undue reliance on such information. Forward-looking statements should not be read as a guarantee of future performance or results and are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward-looking statements. This announcement for the second quarter of 2025 (the 'Quarterly Report') should be read in conjunction with the Annual Report of 2024 as of and for the year ended December 31, 2024 published by the company on Form 20-F and the published report for the first quarter of 2025 (the "prior quarterly report"), including the description of the events occurring subsequent to the date of the statement of financial position, as filed with the US SEC. Appendix Condensed Consolidated Statements of Financial Position as of (Unaudited) $ millions June 30, 2025 June 30, 2024 December 31, 2024 Current assets Cash and cash equivalents 582 287 327 Short-term investments and deposits 119 109 115 Trade receivables 1,431 1,429 1,260 Inventories 1,690 1,544 1,626 Prepaid expenses and other receivables 413 298 258 Total current assets 4,235 3,667 3,586 Non-current assets Deferred tax assets 172 147 143 Property, plant and equipment 6,701 6,285 6,462 Intangible assets 941 857 869 Other non-current assets 326 249 261 Total non-current assets 8,140 7,538 7,735 Total assets 12,375 11,205 11,321 Current liabilities Short-term debt 365 577 384 Trade payables 1,082 834 1,002 Provisions 59 49 63 Other payables 920 802 879 Total current liabilities 2,426 2,262 2,328 Non-current liabilities Long-term debt and debentures 2,550 1,850 1,909 Deferred tax liabilities 477 500 481 Long-term employee liabilities 365 330 331 Long-term provisions and accruals 244 218 230 Other 45 61 55 Total non-current liabilities 3,681 2,959 3,006 Total liabilities 6,107 5,221 5,334 Equity Total shareholders' equity 6,014 5,746 5,724 Non-controlling interests 254 238 263 Total equity 6,268 5,984 5,987 Total liabilities and equity 12,375 11,205 11,321 Expand Condensed Consolidated Statements of Cash Flows (Unaudited) $ millions Three-months ended Six-months ended Year ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 December 31, 2024 Cash flows from operating activities Net income 108 130 214 256 464 Adjustments for: Depreciation and amortization 150 152 301 299 596 Fixed assets impairment - - - - 14 Exchange rate, interest and derivative, net (84 ) 37 (40 ) 96 152 Tax expenses 60 48 102 90 172 Change in provisions 7 (11 ) 2 (53 ) (50 ) Other 8 2 11 4 13 141 228 376 436 897 Change in inventories (6 ) 58 22 109 (7 ) Change in trade receivables 119 26 (83 ) (115 ) 26 Change in trade payables 28 (55 ) 59 (29 ) 104 Change in other receivables (4 ) (14 ) (19 ) 4 39 Change in other payables (80 ) (28 ) (62 ) (18 ) 43 Net change in operating assets and liabilities 57 (13 ) (83 ) (49 ) 205 Income taxes paid, net of refund (37 ) (29 ) (73 ) (35 ) (98 ) Net cash provided by operating activities 269 316 434 608 1,468 Cash flows from investing activities Proceeds (payments) from deposits, net 1 11 (3 ) 61 56 Purchases of property, plant and equipment and intangible assets (202 ) (142 ) (392 ) (287 ) (713 ) Proceeds from divestiture of assets and businesses, net of transaction expenses 1 3 3 18 19 Payments from settlement of derivatives, net (16 ) - (16 ) - - Interest received 4 3 7 10 17 Business combinations - - (3 ) (22 ) (74 ) Other - - - - 1 Net cash used in investing activities (212 ) (125 ) (404 ) (220 ) (694 ) Cash flows from financing activities Dividends paid to the Company's shareholders (55 ) (59 ) (107 ) (120 ) (251 ) Receipts of long-term debt 683 140 1,044 338 889 Repayments of long-term debt (138 ) (226 ) (535 ) (612 ) (1,302 ) Repayments of short-term debt (206 ) (18 ) (97 ) (1 ) (1 ) Interest paid (42 ) (43 ) (58 ) (63 ) (122 ) Receipts (payments) from transactions in derivatives (2 ) - (2 ) 3 (2 ) Dividend paid to the non-controlling interests (42 ) (57 ) (42 ) (57 ) (57 ) Net cash provided by (used in) financing activities 198 (263 ) 203 (512 ) (846 ) Net change in cash and cash equivalents 255 (72 ) 233 (124 ) (72 ) Cash and cash equivalents as of the beginning of the period 312 363 327 420 420 Net effect of currency translation on cash and cash equivalents 15 (4 ) 22 (9 ) (21 ) Cash and cash equivalents as of the end of the period 582 287 582 287 327 Expand Adjustments to Reported Operating and Net income (non-GAAP) $ millions Three-months ended Six-months ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Operating income 181 211 366 414 Charges related to the security situation in Israel (1) 15 14 25 26 Impairment and write-off of assets and provision for site closure (2) 5 - 5 - Fire incident at Ashdod Port (3) - - 4 - Provision for early retirement (4) - - 9 - Total adjustments to operating income 20 14 43 26 Adjusted operating income 201 225 409 440 Net income attributable to the shareholders of the Company 93 115 184 224 Total adjustments to operating income 20 14 43 26 Total tax adjustments (5) (3 ) (3 ) (7 ) (6 ) Total adjusted net income - shareholders of the Company 110 126 220 244 Expand (1) For 2025 and 2024, reflects charges relating to the ongoing security situation in Israel. (2) For 2025, reflects a write-off of two portfolio companies due to failed business continuity and funding. (3) For 2025, reflects expenses related to the fire incident at Ashdod Port. (4) For 2025, reflects provisions for early retirement due to restructuring at certain sites, as part of the Company's global efficiency plan. Expand Consolidated EBITDA for the Periods of activity $ millions Three-months ended Six-months ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Net income 108 130 214 256 Financing expenses, net 13 33 50 68 Taxes on income 60 48 102 90 Less: Share in earnings of equity-accounted investees - - - - Operating income 181 211 366 414 Depreciation and amortization 150 152 301 299 Adjustments (1) 20 14 43 26 Total adjusted EBITDA 351 377 710 739 Expand (1) See "Adjustments to Reported Operating and Net income (non-GAAP)" above. Expand (1) For Q2 2025, Phosphate Specialties accounted for $336 million of segment sales, $39 million of operating income, $12 million of D&A and $51 million of EBITDA, while Phosphate Commodities accounted for $301 million of segment sales, $51 million of operating income, $32 million of D&A and represented $83 million of EBITDA. Expand
