AtkinsRéalis and France's EDF Sign Pivotal Global Nuclear Collaboration Agreement Français
AtkinsRéalis and EDF to expand existing global partnership to collaborate more closely and respond to new nuclear reactor opportunities around the world.
This agreement will expand the strategic partnership between Canada and France, enabling better integration of their nuclear industries while preserving each country's sovereignty over their respective proprietary CANDU® and EPR technologies.
Areas of potential collaboration to include engineering support, provisioning of equipment, sharing of operational excellence, installation & commissioning, and cooperation between the global technology centres of both organizations.
The agreement also includes potential collaboration around waste management and fuel production.
Both companies will continue to compete on reactor technology selection where appropriate.
EDF and AtkinsRéalis have the potential to support local value creation by driving enhanced Canadian job opportunities.
MONTREAL, June 9, 2025 /CNW/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced it has concluded a pivotal collaboration agreement with Électricité de France (EDF), one of the world's leading electricity production and distribution companies.
"This collaboration agreement with a world-class organization like EDF is a gamechanger for the nuclear industry and makes good strategic sense," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "There is a global need for more cleaner, affordable and reliable energy that can only be achieved with nuclear power. Only by scaling up our efforts can we address the need for more low-carbon energy and for global market demand of 1000 large and small reactors."
The collaboration agreement, which will expand the strategic partnership between the two nuclear power nations and better integrate their respective industries, will cover both pre-technology and post-technology vendor selection processes and will include:
Engineering support
The provision of non-reactor equipment
Sharing of best practices
Installation and commissioning services
Engagement between the centres of excellence of each organization
Both companies will continue to compete on reactor technology vendor selection processes where appropriate or when asked by governments and developers in support of global efforts to transition to low-carbon energy.
"AtkinsRéalis is already working with EDF in the UK and France as a strategic partner in their new nuclear build program. This collaboration strengthens our relationship and will enable both organizations to extend international capacity, while harnessing their collective expertise and technical capabilities, to support the next wave of nuclear generation in the coming years," said Joe St. Julian, President, Nuclear, AtkinsRéalis.
"The deepening of our partnership with AtkinsRéalis underscores EDF's commitment to steering progress in the nuclear industry alongside our valued Canadian partner. By combining their global and complementary expertise, knowledge and skills, both our companies demonstrate their dedication to fostering innovation and bolstering both our nations' nuclear capabilities for enhanced energy sovereignty and security. The power of working together will drive us forward in Canada, in Europe and around the world," said Vakis Ramany, SVP, International Nuclear Development, EDF.
About AtkinsRéalis
Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn.
About EDF
The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 490TWh, and a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF's "raison d'être" is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 41.5 million customers and generated consolidated sales of €118.7 bn in 2024.
With 66 reactors in operation worldwide, 57 reactors currently in operation in France and 9 reactors in the United Kingdom, EDF has the world's largest nuclear fleet operated by one single operator.
EDF provides a suite of technologies built on over half a century of experience such as EPR, the EDF's flagship product already in operation in three countries: China, Finland & France and with two units under construction (Hinkley Point C) and two units under development (Sizewell C) in the United Kingdom. The French New Nuclear Programme is also under development with 6 nuclear reactors to be built in France with 8 in option.
News and information are at www.edf.fr or follow EDF on LinkedIn
About AtkinsRéalis' Nuclear Business
AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page.
Forward-Looking Statements
References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("2024 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2024 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
29 minutes ago
- Global News
U.S. reducing diplomatic, military presence in Middle East as tensions rise
The United States is drawing down the presence of staffers who are not deemed essential to operations in the Middle East and their loved ones due to the potential for regional unrest, the State Department and military said Wednesday. The State Department said it has ordered the departure of all nonessential personnel from the U.S. Embassy in Baghdad based on its latest review and a commitment 'to keeping Americans safe, both at home and abroad.' The embassy already had been on limited staffing, and the order will not affect a large number of personnel. The department, however, also is authorizing the departure of nonessential personnel and family members from Bahrain and Kuwait. That gives them the option of leaving those countries at government expense and with government assistance. Defense Secretary Pete Hegseth 'has authorized the voluntary departure of military dependents from locations' across the region, U.S. Central Command said in a statement. The command 'is monitoring the developing tension in the Middle East.' Story continues below advertisement White House spokeswoman Anna Kelly confirmed the moves. 'The State Department regularly reviews American personnel abroad, and this decision was made as a result of a recent review,' Kelly said. Global News has asked Global Affairs Canada if it is conducting a similar drawdown of Canadian diplomatic staff in the region. The top U.S. military officer for the Middle East, Gen. Erik Kurilla, was scheduled to testify before the Senate Armed Services Committee on Thursday, but that testimony has now been postponed, according to the committee's website. The Pentagon did not have an immediate comment on why Kurilla's testimony was postponed. Tensions in the region have been rising in recent days as talks between the U.S. and Iran over its rapidly advancing nuclear program appear to have hit an impasse. The talks seek to limit Iran's nuclear program in exchange for the lifting of some of the crushing economic sanctions that the U.S. has imposed on the Islamic Republic. Iran insists its nuclear program is peaceful. 0:42 Trump's travel ban on 12 countries takes effect The next round of talks — the sixth — had been tentatively scheduled for this weekend in Oman, according to two U.S. officials, who spoke on condition of anonymity to discuss diplomatic matters. However, those officials said Wednesday that it looked increasingly unlikely that the talks would happen. Story continues below advertisement President Donald Trump, who has previously said Israel or the U.S. could carry out airstrikes targeting Iranian nuclear facilities if negotiations failed, gave a less-than-optimistic view about reaching a deal with Iran, telling the New York Post's 'Pod Force One' podcast that he was 'getting more and more less confident about' a deal. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'They seem to be delaying, and I think that's a shame. I'm less confident now than I would have been a couple of months ago. Something happened to them,' he said in the interview recorded Monday and released Wednesday. Iran's mission to the U.N. posted on social media that 'threats of overwhelming force won't change the facts.' 'Iran is not seeking a nuclear weapon, and U.S. militarism only fuels instability,' the Iranian mission wrote. Iranian Defense Minister Gen. Aziz Nasirzadeh separately told journalists Wednesday that he hoped talks with the U.S. would yield results, though Tehran stood ready to respond. 'If conflict is imposed on us, the opponent's casualties will certainly be more than ours, and in that case, America must leave the region, because all its bases are within our reach,' he said. 'We have access to them, and we will target all of them in the host countries without hesitation.' 3:20 Iran warns no nuclear deal if US insists on ending uranium enrichment Meanwhile, the Board of Governors at the International Atomic Energy Agency was potentially set to vote on a measure to censure Iran. That could set in motion an effort to snap back United Nations sanctions on Iran via a measure in Tehran's 2015 nuclear deal with world powers that's still active until October. Trump withdrew from that agreement in his first term. Story continues below advertisement Earlier Wednesday, a statement from the United Kingdom Maritime Trade Operations center, a Mideast-based effort overseen by the British navy, issued a warning to ships in the region that it 'has been made aware of increased tensions within the region which could lead to an escalation of military activity having a direct impact on mariners.' It urged caution in the Persian Gulf, the Gulf of Oman and the Strait of Hormuz. It did not name Iran, though those waterways have seen Iranian ship seizures and attacks in the past. Meanwhile, Iraq's state-run Iraqi News Agency said in a statement attributed to an unnamed government official that the evacuation of some nonessential employees from the U.S. Embassy in Baghdad was part of 'procedures related to the U.S. diplomatic presence in a number of Middle Eastern countries, not just Iraq' and that Iraqi officials 'have not recorded any security indicators that warrant an evacuation.' 'We reiterate that all security indicators and briefings support the escalating assessments of stability and the restoration of internal security,' the statement said. Gambrell reported from Dubai, United Arab Emirates. AP writers Farnoush Amiri at the United Nations, Aamer Madhani in Washington and Qassim Abdul-Zahra in Baghdad contributed to this report.
The Market Online
30 minutes ago
- The Market Online
@ the Bell: Markets firm as trade talks continue
Equities trading in Canada's largest centre continued the winning theme of the week on Wednesday thanks to growth among consumer discretionary shares while investors watch the latest developments from US-China trade talks. Late Tuesday, US and Chinese officials concluded two days of trade talks in London by committing to revive a deal reached last month in Geneva and to lift China's export restrictions on rare earth elements — a key obstacle in the previous agreement. American traders were pleased with lighter inflation data from the consumer price index and the core CPI, which both rose 0.1 per cent in May from April, less than expected. The Canadian dollar traded for 73.14 cents US compared to 73.04 cents US on Tuesday. US crude futures traded US$2.91 higher at US$67.89 a barrel, and the Brent contract rose US$2.66 to US$69.53 a barrel. The price of gold was down US$25.35 to US$3,348.16. In world markets, the Nikkei was up 209.68 points to ¥38,421.19, the Hang Seng was up 204.07 points to HK$24,366.94 the FTSE was up 11.27 points to ₤8,864.35, but the DAX was down 38.66 points to €23,948.90. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Globe and Mail
35 minutes ago
- Globe and Mail
Andrew Peller Limited Reports Financial Results for Fourth Quarter and Fiscal Year 2025
GRIMSBY, Ontario, June 11, 2025 (GLOBE NEWSWIRE) -- Andrew Peller Limited (TSX: ADW.A / ADW.B) ('APL' or the 'Company') announced today results for the three and 12 months ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise stated. FISCAL 2025 HIGHLIGHTS Revenue was $389.6 million, up 1.0% from $385.9 million in the prior year; Gross margin of 42.8%, up from 39.0% in the prior year; EBITA increased 25.0% to $62.9 million, from $50.3 million in 2024; Net earnings of $11.1 million ($0.26 per Class A Share), compared to net loss of $2.9 million (loss of $0.07 per Class A Share) in 2024; and Dividends of $0.246 per Class A Share and $0.214 per Class B Share. FOURTH QUARTER 2025 HIGHLIGHTS Revenue was $75.5 million, compared with revenue of $85.0 million in 2024; Gross margin of 52.6%, compared with 41.8% in the prior year; EBITA increased 46.0% to $13.5 million, from $9.3 million in Q4 2024; and Net loss improved to $0.7 million (loss of $0.02 per Class A Share), compared to a loss of $6.9 million (loss of $0.17 per Class A Share) in Q4 2024. 'It was a strong overall fiscal 2025 as we continued to outperform the category, expand and win in important new channels and growth categories, while meaningfully strengthening gross margins, operating margins and free cash flow,' said Paul Dubkowski, Chief Executive Officer. 'Building on this work, we are positioning the company for long-term success and increased market share as we adapt to Ontario's evolving distribution landscape and shifting trade dynamics, and we believe this represents a meaningful opportunity as we move forward.' Mr. Dubkowski added: 'We applaud the Ontario Government's recent policy announcements and its continued support of the province's grape and wine industry. By promoting strong, competitive policies that are aligned with global best practices, and by focusing on local grape growers and wine producers, the Government is reinforcing the vital role our sector plays as a key driver of economic growth in the province. As a market leader, we remain deeply committed to investing in the long-term health and growth of the sector and the regions in which we operate.' Financial Highlights (Financial Statements and the Company's Management Discussion and Analysis for the period can be obtained on the Company's web site at For the three months and year ended March 31, (in $000, except per share amounts) Three months Year 2025 2024 2025 2024 Revenue $ 75,519 $85,008 $ 389,607 $385,856 Gross margin (1) 39,715 35,565 166,605 150,602 Gross margin (% of revenue) 52.6 % 41.8 % 42.8 % 39.0 % Selling and administrative expenses (2) 26,211 35,794 103,716 109,773 EBITA (1) 13,504 9,251 62,889 50,309 Interest expense 3,098 3,992 16,216 16,964 Net unrealized loss (gain) on derivative financial instruments 665 (1,003) 1,840 641 Loss on debt extinguishment and financing fees - - - 2,172 Other expense (income), net 635 (16) 3,480 1,130 Net (loss) earnings (747) (6,943) 11,115 (2,852) (Loss) earnings per share – Class A basic $ (0.02) $(0.17) $ 0.26 $(0.07) (Loss) earnings per share – Class B basic $ (0.01) $(0.14) $ 0.23 $(0.06) Dividend per share – Class A (annual) $ 0.246 $0.246 Dividend per share – Class B (annual) $ 0.214 $0.214 (1) Please refer to the Company's MD&A concerning 'Non-IFRS Measures' (2) Selling and administrative expenses in fiscal 2024 include $9.5 million relating to the former CEO retirement and transition costs. These amounts are added back to calculate the Company's EBITA. Financial Review Revenue for the three months ended March 31, 2025 decreased 11.2% compared to the prior year's fourth quarter primarily due to the $5.8 million recognized as revenue at the end of fiscal 2024 which represents the full year's benefit of the revised Ontario VQA Support Program. The revenue from the VQA support program for fiscal 2025 was recognized throughout the fiscal year as eligible sales were made. The remaining decrease can be attributed to the timing of the Easter holiday season when compared to fiscal 2024 and continual adjustment of channel and shipment timing in the evolving Ontario retail market. Revenue for the year ended March 31, 2025 increased 1.0% over the prior year. The increase was attributable to sales to big box stores, partially offset by a decrease in the Company's retail stores in the second half of the fiscal year as Ontario's new beverage alcohol retail distribution guidelines took effect. The Company's retail store sales also benefited from the July strike at the LCBO. Several of the Company's other well-established trade channels performed well during the year, particularly sales to third party restaurants and hospitality locations. This strong performance is offset by softness in sales from the estate wineries and wine clubs due to lower guest traffic and reduced consumer discretionary spending due to tightening economic conditions. Gross margin as a percentage of revenue for the three months ended March 31, 2025 increased to 52.6% from 41.8% mainly due to the inclusion of $9.8 million from the Ontario Grape Support Program (OGSP). As the OGSP program is intended to increase the content of domestic grapes in blended wines, the support is recognized as a reduction to cost of goods sold when eligible wine is sold. For the year ended March 31, 2025, gross margin as a percentage of revenue increased to 42.8% from 39.0%. The increase can be attributed to lower costs for glass bottles and inbound freight due to the cost savings programs implemented by the Company, and the inclusion of the OGSP. Gross margin is also continuing to be impacted by channel mix and inflationary cost pressures in concentrate, packaging and other raw materials. In response to these margin pressures, the Company is continuing to execute cost savings programs and formulation changes relating to these inputs. For the year ended March 31, 2025, these programs have resulted in $10.7 million of cost savings (2024 - $9.3 million). As a percentage of revenue, selling and administrative expenses decreased to 34.7% and 26.6% for the three months and year ended March 31, 2025, respectively, compared to 42.1% and 28.4% in the prior year. Selling and administrative expenses in the fourth quarter of fiscal 2024 included $6.5 million relating to the retirement allowance and consulting agreements entered into as part of John Peller's retirement and transition and $3.0 million in legal and advisory fees incurred by certain shareholders in connection with these agreements. Offsetting the non-recurring expenses from 2024, was higher compensation and higher selling costs as a result of the strong performance in fiscal 2025. Earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes ('EBITA') (see 'Non-IFRS Measures' section of this MD&A) was $13.5 million in the fourth quarter of fiscal 2025, compared to $9.3 million in the fourth quarter of prior year. EBITA increased to $62.9 million for the year ended March 31, 2025 compared to $50.3 million in prior year period. Interest expense for the three months and year ended March 31, 2025 has decreased by 22.4% and 4.4% respectively compared to the prior year due to lower average debt levels and lower interest rates in fiscal 2025 compared to prior year. The Company recorded a net unrealized non-cash loss in fiscal 2025 of $1.8 million related to mark-to-market adjustments on interest rate swaps and foreign exchange contracts compared to a loss of $0.6 million in the prior year. The Company recorded a loss of $0.7 million in the fourth quarter of fiscal 2025 compared to a gain of $1.0 million in the same quarter in the prior year. The Company has elected not to apply hedge accounting and accordingly the change in fair value of these financial instruments is reflected in the Company's consolidated statement of earnings (loss) each reporting period. These instruments are considered to be effective economic hedges and are expected to mitigate the short-term volatility of changing foreign exchange and interest rates. Other expenses (income), net were $0.6 million and $3.5 million for the three months and year ended March 31, 2025. The expense in fiscal 2025 related primarily to a restructuring initiative completed in fiscal year to align the Company's business structure with the changing retail landscape in Ontario. During the year ended March 31, 2025, the Company undertook certain tax planning initiatives as it relates to capital gains with respect to the Port Moody lands. This included transferring the beneficial interest in the land to a newly registered partnership. All parties associated with the limited partner are within the consolidated APL group and there has been no legal ownership change. In March 2025, the Government of Canada announced the cancellation of the previously proposed legislation changes to the capital gains inclusion rate. Consequently, the beneficial interest in the Port Moody lands was transferred at cost rather than at fair value as originally contemplated. The transaction had no impact on the Company's operating results or cash flows. The Company incurred a net loss of $0.7 million (loss of $0.02 per Class A share) for the fourth quarter of fiscal 2025 compared to a net loss of $6.9 million (loss of $0.17 per Class A share) in the fourth quarter of the prior year. For the year ended March 31, 2025, the Company generated net earnings of $11.1 million ($0.26 per Class A share) compared to a net loss of $2.9 million (loss of $0.07 per Class A Share) in the prior year. Investor Conference Call The Company will hold a conference call to discuss the results on Thursday, June 12, 2025 at 10:00 a.m. ET. Paul Dubkowski, CEO, Renee Cauchi, CFO and Patrick O'Brien, President and CCO, will host the call, with a question and answer period following management's presentation. About Andrew Peller Limited Andrew Peller Limited is one of Canada's leading producers and marketers of quality wines and craft beverage alcohol products. The Company's award-winning premium and ultra-premium Vintners' Quality Alliance brands include Peller Estates, Trius, Thirty Bench, Wayne Gretzky, Sandhill, Red Rooster, Black Hills Estate Winery, Tinhorn Creek Vineyards, Gray Monk Estate Winery, Raven Conspiracy, and Conviction. Complementing these premium brands are a number of popularly priced varietal offerings, wine-based liqueurs, craft ciders, and craft spirits. The Company owns and operates 101 well-positioned independent retail locations in Ontario under The Wine Shop, Wine Country Vintners, and Wine Country Merchants store names. The Company also operates Andrew Peller Import Agency and The Small Winemaker's Collection Inc., importers and marketing agents of premium wines from around the world. With a focus on serving the needs of all wine consumers, the Company produces and markets premium personal winemaking products through its wholly owned subsidiary, Global Vintners Inc., the recognized leader in personal winemaking products. More information about the Company can be found at The Company utilizes EBITA (defined as earnings before interest, amortization, loss on debt extinguishment and financing fees, CEO retirement and transition costs, net unrealized gains and losses on derivative financial instruments, other (income) expenses, and income taxes) to measure its financial performance. EBITA is not a recognized measure under IFRS. Management believes that EBITA is a useful supplemental measure to net earnings, as it provides readers with an indication of earnings available for investment prior to debt service, capital expenditures, and income taxes, as well as provides an indication of recurring earnings compared to prior periods. Readers are cautioned that EBITA should not be construed as an alternative to net earnings determined in accordance with IFRS as indicators of the Company's performance or to cash flows from operating, investing, and financing activities as a measure of liquidity and cash flows. The Company also utilizes gross margin (defined as revenue less cost of goods sold, excluding amortization). The Company's method of calculating EBITA and gross margin may differ from the methods used by other companies and, accordingly, may not be comparable to measures used by other companies. Andrew Peller Limited common shares trade on the Toronto Stock Exchange (symbols ADW.A and ADW.B). FORWARD-LOOKING INFORMATION Certain statements in this news release may contain 'forward-looking statements' within the meaning of applicable securities laws including the 'safe harbour provisions' of the Securities Act (Ontario) with respect to APL and its subsidiaries. Such statements include, but are not limited to, statements about the growth of the business; its launch of new premium wines and craft beverage alcohol products; sales trends in foreign markets; its supply of domestically grown grapes; and current economic conditions. These statements are subject to certain risks, assumptions, and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. The words 'believe', 'plan', 'intend', 'estimate', 'expect', or 'anticipate', and similar expressions, as well as future or conditional verbs such as 'will', 'should', 'would', 'could', and similar verbs often identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. With respect to forward-looking statements contained in this news release, the Company has made assumptions and applied certain factors regarding, among other things: future grape, glass bottle, and wine and spirit prices; its ability to obtain grapes, imported wine, glass, and other raw materials; fluctuations in foreign currency exchange rates; its ability to market products successfully to its anticipated customers; the trade balance within the domestic Canadian and international wine markets; market trends; reliance on key personnel; protection of its intellectual property rights; the economic environment; the regulatory requirements regarding producing, marketing, advertising, and labelling of its products; the regulation of liquor distribution and retailing in Ontario; the application of federal and provincial environmental laws; and the impact of increasing competition. These forward-looking statements are also subject to the risks and uncertainties discussed in this news release, in the 'Risks and Uncertainties' section and elsewhere in the Company's MD&A and other risks detailed from time to time in the publicly filed disclosure documents of Andrew Peller Limited which are available at Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which could cause actual results to differ materially from those conclusions, forecasts, or projections anticipated in these forward-looking statements. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The Company's forward-looking statements are made only as of the date of this news release, and except as required by applicable law, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new information, future events or circumstances or otherwise.
