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Security tightened on Koh Samui after Phuket incidents

Security tightened on Koh Samui after Phuket incidents

Bangkok Post28-06-2025
Authorities on Koh Samui have ramped up security measures, inspecting all vehicles and individuals arriving on the island following following the discovery of several suspected explosive devices in the southern tourist provinces of Phuket and Krabi.
Police, military and local administrative officials have joined forces to prevent any potential threats from spreading to the popular tourist destination in Surat Thani province.
At the island's ferry terminal on Saturday, all vehicles and passengers arriving from the mainland were being thoroughly screened by local police, working alongside immigration officers, tourist police and soldiers from the Internal Security Operations Command (Isoc) Region 4.
The heightened security comes in response to a series of incidents in Phuket and Krabi, many of which appeared to be connected and part of a broader attempt to destabilise southern provinces, authorities said.
The incidents included the discovery of a suspected explosive device in a motorcycle abandoned near the terminal at Phuket International Airport. A handful of other suspicious objects were found on popular beaches and tourist sites in Phuket and Krabi. All were safely neutralised by explosive ordnance disposal (EOD) teams.
Pol Lt Gen Surapong Thanomjit, commissioner of Provincial Police Region 8, instructed all police stations in vulnerable zones to increase vigilance. In addition to inspecting every vehicle disembarking from ferries, officers on Koh Samui are monitoring individuals who may pose a threat.
Additional checkpoints have been established along the island's ring road and at piers where tourists travel to nearby islands such as Koh Phangan and Koh Tao, both major attractions in Surat Thani.
In a parallel effort, district officials and military personnel visited Nurul Ihsan Mosque in Maret subdistrict to meet with local Islamic leaders. They requested cooperation in identifying outsiders or suspicious individuals who may have recently moved into the community.
Authorities have also urged the public to report any unusual objects or unattended items, especially in tourist hotspots. Residents are encouraged to contact police immediately if they notice anything out of place, as a precaution against potential attacks.
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"Our balance sheet remains strong, enabling us to invest in growth and return cash to shareholders through our disciplined capital allocation strategy," stated Elyse Brody, Interim CFO of MSA Safety. "Highlights this quarter include the acquisition of M&C TechGroup, our 55th consecutive annual dividend increase, share repurchases, and a strategic footprint investment in Cranberry Township, Pa., to expand manufacturing and engineering capabilities at our detection Center of Excellence. 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When prompted, please instruct the operator to be joined into the MSA Safety Incorporated conference call. A replay of the conference call will be available at shortly after the conclusion of the presentation and will be available for the next 90 days. MSA Safety Incorporated Condensed Consolidated Statements of Income (Unaudited) (In thousands, except per share amounts) Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024 Net sales $ 474,116$ 462,463$ 895,456$ 875,765 Cost of products sold 253,406239,434481,351457,205 Gross profit 220,710223,029414,105418,560 Selling, general and administrative 112,078105,075206,042199,226 Research and development 16,99617,07032,66532,988 Restructuring charges 4881,5432,4124,560 Currency exchange losses (gains), net 5,286(603)9,3631,730 Operating income 85,86299,944163,623180,056 Interest expense 8,1169,66414,95120,403 Other income, net (5,000)(4,148)(12,022)(10,382) Total other expense, net 3,1165,5162,92910,021 Income before income taxes 82,74694,428160,694170,035 Provision for income taxes 19,97322,19438,31639,662 Net income $ 62,773$ 72,234$ 122,378$ 130,373 Earnings per share attributable to common shareholders:Basic $ 1.60$ 1.83$ 3.11$ 3.31 Diluted $ 1.59$ 1.83$ 3.10$ 3.30 Basic shares outstanding 39,25839,38939,29639,375 Diluted shares outstanding 39,35939,54139,43039,549 MSA Safety Incorporated Condensed Consolidated Balance Sheets (Unaudited) (In thousands) June 30, 2025December 31, 2024 AssetsCash and cash equivalents $ 146,988$ 164,560 Trade receivables, net 333,754279,213 Inventories 343,883296,796 Other current assets 62,83662,461 Total current assets 887,461803,030 Property, plant and equipment, net 279,419211,865 Prepaid pension cost 234,355224,638 Goodwill 733,245620,895 Intangible assets, net 310,934246,437 Other noncurrent assets 104,79798,919 Total assets $ 2,550,211$ 2,205,784 Liabilities and shareholders' equityNotes payable and current portion of long-term debt, net $ 8,383$ 26,391 Accounts payable 126,421108,163 Other current liabilities 150,660153,539 Total current liabilities 285,464288,093 Long-term debt, net 670,965481,622 Pensions and other employee benefits 152,344134,251 Deferred tax liabilities 132,696107,691 Other noncurrent liabilities 56,10050,808 Total shareholders' equity 1,252,6421,143,319 Total liabilities and shareholders' equity $ 2,550,211$ 2,205,784 MSA Safety Incorporated Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands) Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024 Net income $ 62,773$ 72,234$ 122,378$ 130,373 Depreciation and amortization 18,09916,04734,35031,605 Change in working capital and other operating (13,654)(34,979)(27,677)(57,790) Cash flow from operating activities 67,21853,302129,051104,188 Capital expenditures (29,334)(14,341)(40,118)(25,560) Acquisitions, net of cash acquired (187,774)—(187,774)— Property disposals and other investing 1741974 Cash flow used in investing activities (217,107)(14,267)(227,873)(25,486) Change in debt 172,686(8,250)165,220(13,260) Cash dividends paid (20,848)(20,099)(40,881)(38,589) Company stock purchases under repurchase program (29,998)(10,000)(39,994)(10,000) Other financing (2,249)(284)(10,366)(5,869) Cash flow from (used in) financing activities 119,591(38,633)73,979(67,718) Effect of exchange rate changes on cash, cash equivalents and restricted cash 6,949(1,881)7,692(10,557) (Decrease)/Increase in cash, cash equivalents and restricted cash $ (23,349)$ (1,479)$ (17,151)$ 427 MSA Safety Incorporated Sales by Product Group (Unaudited) (In thousands, except percentages)Three Months Ended June 30, 2025ConsolidatedAmericasInternational DollarsPercentDollarsPercentDollarsPercent Detection(a)$ 193,83541 %$ 127,17440 %$ 66,66143 % Fire Service(b)163,30634 %110,81535 %52,49134 % Industrial PPE and Other(c)116,97525 %82,15025 %34,82523 % Total$ 474,116100 %$ 320,139100 %$ 153,977100 %Three Months Ended June 30, 2024ConsolidatedAmericasInternational DollarsPercentDollarsPercentDollarsPercent Detection(a)$ 170,84837 %$ 111,40535 %$ 59,44340 % Fire Service(b)172,26937 %118,48738 %53,78237 % Industrial PPE and Other(c)119,34626 %84,81927 %34,52723 % Total$ 462,463100 %$ 314,711100 %$ 147,752100 %Six Months Ended June 30, 2025ConsolidatedAmericasInternational DollarsPercentDollarsPercentDollarsPercent Detection(a)$ 354,90640 %$ 237,06539 %$ 117,84142 % Fire Service(b)313,92235 %216,72235 %97,20034 % Industrial PPE and Other(c)226,62825 %159,51226 %67,11624 % Total$ 895,456100 %$ 613,299100 %$ 282,157100 %Six Months Ended June 30, 2024ConsolidatedAmericasInternational DollarsPercentDollarsPercentDollarsPercent Detection(a)310,06435 %207,70034 %102,36438 % Fire Service(b)335,96239 %240,73839 %95,22436 % Industrial PPE and Other(c)229,73926 %161,81127 %67,92826 % Total$ 875,765100 %$ 610,249100 %$ 265,516100 %(a) Detection includes Fixed Gas and Flame Detection and Portable Gas detection. 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MSA Safety Incorporated Reconciliation of Non-GAAP Financial Measures Organic sales change (Unaudited)ConsolidatedThree Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 13 % (5) % (2) %3 % Currency translation effects — % (1) % 1 %(1) % Less: Acquisitions (7) % — % — %(2) % Organic sales change 6 % (6) % (1) %— %Six Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 14 % (7) % (1) %2 % Plus: Currency translation effects 1 % — % 2 %1 % Less: Acquisitions (4) % — % — %(1) % Organic sales change 11 % (7) % 1 %2 % Americas Segment Three Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 14 % (6) % (3) %2 % Plus: Currency translation effects 1 % — % 2 %1 % Less: Acquisitions (3) % — % — %(1) % Organic sales change 12 % (6) % (1) %2 %Six Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 14 % (10) % (1) %1 % Plus: Currency translation effects 1 % — % 3 %1 % Less: Acquisitions (1) % — % — %(1) % Organic sales change 14 % (10) % 2 %1 % International Segment Three Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 12 % (2) % 1 %4 % Plus: Currency translation effects (4) % (4) % (3) %(3) % Less: Acquisitions (11) % — % — %(5) % Organic sales change (3) % (6) % (2) %(4) %Six Months Ended June 30, 2025Detection(a) FireService(b) Industrial PPEand Other(c)Net Sales GAAP reported sales change 15 % 2 % (1) %6 % Plus: Currency translation effects (1) % (1) % (1) %(1) % Less: Acquisitions (7) % — % — %(2) % Organic sales change 7 % 1 % (2) %3 %(a) Detection includes Fixed Gas and Flame Detection and Portable Gas Detection. 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MSA Safety Incorporated Reconciliation of Non-GAAP Financial Measures Adjusted operating income (Unaudited) Adjusted EBITDA (Unaudited) (In thousands) Three months endedJune 30,Six months endedJune 30,2025202420252024 Adjusted EBITDA $ 116,513$ 121,931$ 217,979$ 223,185 Less: Depreciation and amortization 15,07913,74129,04326,985 Adjusted operating income 101,434108,190188,936196,200 Less: Restructuring charges 4881,5432,4124,560 Currency exchange losses (gains), net 5,286(603)9,3631,730 Acquisition-related amortization 3,1532,3065,4394,620 Net cost for product related legal matter —5,000—5,000 Transaction costs (a) 6,645—8,099234 GAAP operating income 85,86299,944163,623180,056 Less: Interest expense 8,1169,66414,95120,403 Other income, net (5,000)(4,148)(12,022)(10,382) Income before income taxes 82,74694,428160,694170,035 Provision for income taxes 19,97322,19438,31639,662 Net income $ 62,773$ 72,234$ 122,378$ 130,373(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred in connection with acquisitions and divestitures. These costs are included in selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income. Adjusted operating income, adjusted operating margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EBITDA margin are non-GAAP financial measures and operating ratios derived from non-GAAP measures. Adjusted operating income is defined as operating income excluding restructuring charges, currency exchange gains / losses, acquisition-related amortization, net cost for product related legal matter and transaction costs. Adjusted operating margin is defined as adjusted operating income divided by net sales to external customers. Adjusted EBITDA is defined as adjusted operating income plus depreciation and amortization, and adjusted EBITDA margin is defined as adjusted EBITDA divided by net sales to external customers. These metrics are consistent with how management evaluates segment results and makes strategic decisions about the business. Additionally, these non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Adjusted operating income, adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin are not recognized terms under GAAP, and therefore do not purport to be alternatives to operating income or operating margin as a measure of operating performance. The company's definition of adjusted operating income, adjusted operating margin, adjusted EBITDA and adjusted EBITDA margin may not be comparable to similarly titled measures of other companies. As such, management believes that it is appropriate to consider operating income and net income determined on a GAAP basis in addition to these non-GAAP measures. MSA Safety Incorporated Reconciliation of Non-GAAP Financial Measures Adjusted earnings (Unaudited) Adjusted diluted earnings per share (Unaudited) (In thousands, except per share amounts and percentages) Three Months EndedJune 30,Six Months EndedJune 30,20252024% Change20252024% Change Net income $ 62,773$ 72,234(13) %$ 122,378$ 130,373(6) % Currency exchange losses (gains), net 5,286(603)9,3631,730 Restructuring charges 4881,5432,4124,560 Transaction costs (a) 6,645—8,099234 Acquisition-related amortization 3,1532,3065,4394,620 Asset related losses 884701892752 Pension settlement 7211,3087211,308 Net cost for product related legal matter —5,000—5,000 Income tax expense on adjustments (4,021)(2,827)(6,937)(5,417) Adjusted earnings $ 75,929$ 79,662(5) %$ 142,367$ 143,160(1) % Adjusted diluted earnings per share $ 1.93$ 2.01(4) %$ 3.61$ 3.620 % Diluted shares outstanding 39,35939,54139,43039,549(a)Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred in connection with acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income. Management believes that adjusted earnings and adjusted diluted earnings per share are useful measures for investors, as management uses these measures to internally assess the company's performance and ongoing operating trends. There can be no assurances that additional special items will not occur in future periods, nor that MSA's definition of adjusted earnings is consistent with that of other companies. As such, management believes that it is appropriate to consider both net income determined on a GAAP basis as well as adjusted earnings. MSA Safety Incorporated Reconciliation of Non-GAAP Financial Measures Debt to adjusted EBITDA / Net debt to adjusted EBITDA (Unaudited) (In thousands)Twelve Months EndedJune 30, 2025 Operating income$ 372,744 Depreciation and amortization 57,217 Restructuring charges4,249 Currency exchange losses, net11,271 Acquisition-related amortization9,994 Transaction costs (a)8,751 Adjusted EBITDA$ 464,226Total end-of-period debt679,348Debt to adjusted EBITDA1.5Total end-of-period debt$ 679,348 Total end-of-period cash and cash equivalents146,988 Net debt$ 532,360Net debt to adjusted EBITDA1.1(a) Transaction costs include advisory, legal, accounting, valuation, and other professional or consulting fees incurred in connection with acquisitions and divestitures. These costs are included in Selling, general and administrative expense in the unaudited Condensed Consolidated Statements of Income. Management believes that Debt to adjusted EBITDA and Net debt to adjusted EBITDA are useful measures for investors, as management uses these measures to internally assess the company's liquidity and balance sheet strength. There can be no assurances that that MSA's definition of Debt to adjusted EBITDA and Net debt to adjusted EBITDA is consistent with that of other companies. About MSA Safety: MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced safety products, technologies and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2024 revenues of $1.8 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania and employs a team of over 5,000 associates across its more than 40 international locations. For more information, please visit Cautionary Statement Regarding Forward-Looking Statements: Except for historical information, certain matters discussed in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of our annual report on Form 10-K entitled "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors," and those discussed in our Form 10-Q quarterly reports filed after such annual report. MSA's SEC filings are readily obtainable at no charge at as well as on its own investor relations website at Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and caution should be exercised against placing undue reliance upon such statements, which are based only on information currently available to us and speak only as of the date hereof. We are under no duty to update publicly any of the forward-looking statements after the date of this earnings press release, whether as a result of new information, future events or otherwise, except as required by law. Non-GAAP Financial Measures:This press release includes certain non-GAAP financial measures. These financial measures include organic sales change, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted earnings, adjusted earnings per diluted share, debt to adjusted EBITDA, and net debt to adjusted EBITDA. These non-GAAP financial measures provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management also uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use, and computational methods with respect thereto, may differ from the non-GAAP financial measures and key performance indicators, and computational methods, that our peers use to assess their performance and trends. The presentation of these non-GAAP financial measures does not comply with U.S. generally accepted accounting principles ("GAAP"). These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP. When non-GAAP financial measures are disclosed, the Securities and Exchange Commission's Regulation G requires: (i) the presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. For an explanation of these measures, with a reconciliation to the most directly comparable GAAP financial measure, see the Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures in the financial tables section above. View original content to download multimedia: SOURCE MSA Safety

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