Latest news with #065
Express Tribune
7 days ago
- Business
- Express Tribune
Two witnesses record testimonies in gifts case
The Toshakhana is a repository which stores precious gifts given to rulers, parliamentarians, bureaucrats and other officials by heads of other governments and foreign dignitaries. PHOTO: FILE Two more prosecution witnesses on Tuesday gave their testimonies in a case related to alleged misuse of the official gift repository rules by PTI founder Imran Khan and his spouse Bushra Bibi during the former's term as the prime minister. Special Judge Central Shahrukh Arjumand conducted the hearing of the case in a courtroom inside Rawalpindi's Central Prison popularly known as Adiala Jail. Both Imran and Bushrawho are detained in the prison facility — attended the hearing. After the testimonies, the counsel for Imran, Arshad Tabriz, cross-examined both the witnesses. Lawyer of Bushra Bibi, Qosain Faisal Mufti, will cross examine the witnesses at the next hearing. Bushra Bibi had refused to attend the last hearing of the case — also called the Toshakhana II casedespite repeated summonses by the court. The judge had later warned of cancelling her bail in the case. The court will resume hearing on June 11. According to the charge-sheet, Imran misused his position to acquire a Bulgari jewelry set that the Saudi crown prince presented as a gift during the couple's visit to Saudi Arabia between May 7 and 10, 2021. The set included a ring, bracelet, necklace, and a pair of earrings. According to the evidence gathered during the investigation, Imran and Bushra unlawfully retained the set. On May 18, 2021, the deputy military secretary informed the section officer of Toshakhana about the need to assess and declare the price of the gift, but it was not deposited. Bulgari sold the necklace for 300,000 euros and the earrings for 80,000 euros to a Saudi franchise on May 25, 2018. However, the price of the bracelet and ring could not be determined. As of May 28, 2021, the total estimated value of the Bulgari jewelry set was approximately Rs75,661,600. The necklace alone was valued at Rs56,496,000, and the earrings at Rs15,065,600.
Yahoo
11-03-2025
- Automotive
- Yahoo
D'Ieteren Group (SIETY) (Q4 2024) Earnings Call Highlights: Strong Profit Growth and Strategic ...
Adjusted Profit Before Tax (PBT) Group Share: Increased by 9.6% or 12.7% at constant currency, reaching EUR1,065 million. Free Cash Flow Group Share: Increased by 22.2%, surpassing EUR740 million. Belron Operating Margin: Increased by 70 basis points, reaching 21.2%. D'Ieteren Automotive Adjusted PBT Group Share: Increased by 13.4%, with a return on sales margin of 5.1%. PHE Adjusted PBT Group Share: Grew by 8.1%, exceeding EUR165 million. TVH Adjusted PBT Group Share: Increased by 30.5%, nearing EUR100 million. Moleskine Adjusted PBT Group Share: Negative EUR3 million. Revenue Growth: Group sales increased by 3.5%, exceeding EUR12 billion. Belron Sales Growth: 6.8% increase, with 5.8% organic growth. D'Ieteren Automotive Market Share: Declined slightly to 24% in the Belgian market. Free Cash Flow - D'Ieteren Auto: Record EUR362 million, a 160% increase year-on-year. TVH Operating Margin: Increased by 206 basis points, reaching 15.6%. Net Debt - D'Ieteren Auto: Reduced to EUR12 million from EUR250 million at the end of 2023. Dividend Proposal: EUR1.6 ordinary dividend proposed. Warning! GuruFocus has detected 3 Warning Signs with SIETY. Release Date: March 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. D'Ieteren Group (SIETY) reported a strong increase in adjusted profit before tax group share, up 9.6% or 12.7% at constant currency. Free cash flow group share increased by 22.2%, reaching over EUR740 million. D'Ieteren Automotive achieved a record return on sales margin of 5.1%, despite a 6% decline in the Belgian new car market. TVH experienced a significant rebound with a 30.5% increase in PBT, aided by cost containment and recovery from a previous cyber-attack. The company proposed a dividend of EUR1.6, reflecting confidence in its financial stability and future prospects. Moleskine reported a negative adjusted PBT group share of minus EUR3 million due to a cautious discretionary spending environment. Belron faced increased financial charges, impacting its PBT group share, with a EUR60 million rise in net finance costs. D'Ieteren Auto's market share slightly declined to 24% in the Belgian market. The company anticipates a lower headline number for adjusted PBT group share in 2025 due to full-year effects of new financial charges. TVH expects a slightly declining adjusted operating result margin in 2025 due to a dilutive sales mix and absence of cyber-related insurance income. Q: Can you clarify the guidance for 2025, particularly regarding the comparable financing perimeter and financial charges? A: Edouard Janssen, CFO: In 2024, our PBT group share was EUR1.1 billion, excluding the EUR24.8 million net impact from additional financing. For 2025, we expect a slight increase, considering EUR140 million in financial charges at Belron and EUR40 million at the corporate level. Q: Regarding Belron's 23% EBIT margin target, can you provide more details on how you plan to achieve this? A: Francis Deprez, CEO: The target remains unchanged. We expect contributions from topline growth, transformation program benefits, recalibration, value-added products, and cost containment. These factors, along with modest volume increases and normal pricing effects, will help us reach the target. Q: What is the outlook for TVH's growth in a soft market environment? A: Francis Deprez, CEO: We anticipate mid single-digit topline growth, reflecting market share gains despite a mixed market environment. Some markets will show stronger growth, while others may have lower growth. Q: Can you explain the mid single-digit organic sales growth outlook for Belron, considering recent challenges? A: Francis Deprez, CEO: We expect normal developments at Belron, with some effects from last year continuing. The budget assumes a gradual normalization of insurance dynamics, but visibility on timing is limited. We are pursuing growth in all market segments, including cash markets. Q: How does the current tariff situation affect D'Ieteren Group's operations? A: Francis Deprez, CEO: Most of our activities are not significantly affected by tariffs. For TVH and Belron, we have flexible sourcing strategies to mitigate impacts. If tariffs lead to inflation, we will apply pricing strategies similar to previous inflationary periods. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
La Francaise Des Jeux SA (LFDJF) (FY 2024) Earnings Call Highlights: Strong Revenue Growth ...
Revenue: EUR3,065 million, increase of 17%. Recurring EBITDA: EUR792 million, up 21%, margin of 25.8%. Adjusted Net Income: EUR490 million, up 13%. Dividend Proposal: EUR2.05 per share, increase of 15%. Net Financial Debt: EUR1.818 billion, leverage ratio of 1.9 times recurring EBITDA. Cash Conversion: Current EBITDA to cash conversion at 85%. Pro Forma Revenue: EUR3.788 billion, with recurring EBITDA of EUR964 million, margin of 25.5%. Bond Issuance: EUR1.5 billion eurobond issued to finance Kindred acquisition. Cost of Sales: EUR1 billion, primarily retailer remuneration. Marketing Costs: EUR223 million, increase due to Kindred acquisition and Olympic partnership. Personnel Expenses: EUR443 million, increase due to Kindred, ZEturf, and PLI integration. Net Depreciation and Amortization: EUR224 million, increase due to acquisition-related amortization. Free Cash Flow: EUR675 million, up 15%. Net Profit: EUR399 million, adjusted net profit EUR490 million. International Presence: Operations in 13 locally regulated European markets. Retail Network: 34,000 retailers, including 29,000 in France. Online Revenue: 35% of total activities. Warning! GuruFocus has detected 4 Warning Signs with LFDJF. Release Date: March 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. La Francaise Des Jeux SA (LFDJF) successfully acquired Kindred, forming FDJ United, which has diversified the group's geographical and activity scope. The company reported a 17% increase in turnover, reaching EUR3,065 million, with a recurring EBITDA up 21% to EUR792 million. The integration of Kindred is well underway, with identified synergies and cost optimizations expected to generate over EUR50 million. The company maintained a strong cash conversion rate of 85% and a leverage ratio of 1.9 times recurring EBITDA, indicating financial stability. La Francaise Des Jeux SA (LFDJF) continues to invest in responsible gaming and sustainability, dedicating over 10% of its advertising budget to responsible gaming initiatives. The company faces increased taxation in France and the Netherlands, impacting revenue and EBITDA by approximately EUR60 million. Regulatory tightening in the Netherlands and the UK is expected to negatively affect revenue by EUR30 million to EUR40 million. Despite the acquisition of Kindred, the company projects a stable turnover for 2025, indicating limited growth potential in the short term. The integration of Kindred and the rollout of the KSP platform will take time, with full benefits not expected until 2027. The company's adjusted net profit decreased by 6% due to the cost of debt and amortization related to the Kindred acquisition. Q: What analytic tools are you using to manage competitive pricing and risk in sports and online betting? A: Pascal Chaffard, Executive Vice President - Finance, Performance and Strategy, explained that they use tools implemented in the Kambi platform for online betting and gaming, as well as in-house tools for Unibet in France. They are transitioning to a unified sports betting platform, KSP, by the end of 2026, which will enhance pricing management and product differentiation. Q: Can you elaborate on the timing and impact of the mitigation measures for tax and regulation changes? A: Pascal Chaffard stated that EUR20 million in savings is expected in 2025, with a gradual ramp-up to EUR100 million by 2027. The measures include cost optimizations and synergies, particularly from the integration of Kindred and the rollout of the KSP platform. Q: What is the expected financial impact of the new tax regulations in France and the Netherlands? A: The tax changes are expected to have a EUR60 million impact, with EUR45 million from France and over EUR10 million from the Netherlands. Additional regulatory impacts in the Netherlands and the UK could add EUR30-40 million to this. Q: How will the omnichannel account offering be regulated, and how does it align with the wallet separation project? A: Stephane Pallez confirmed that the omnichannel account is consistent with regulatory requirements and the separation of exclusive rights and competition market customers. The program has been approved by regulators and will be tested in a French region this year. Q: Why is the 2025 revenue growth guidance below the long-term target of 4-5%? A: Pascal Chaffard explained that the lower growth is due to tax impacts and regulatory changes. The French Lottery and Retail Sports Betting BU will see low single-digit growth, while the Online Betting and Gaming BU will experience a slight revenue decrease due to these factors. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
