Latest news with #BFB
Yahoo
4 days ago
- Business
- Yahoo
Valmet secures Shotton Mill furnace upgrade contract in UK
Finnish company Valmet has secured a furnace upgrade and a long-term service agreement from Eren Holding for Shotton Mill in the UK. The upgrade is scheduled for completion by the end of 2025. The order, which was included in Valmet's first-quarter orders received this year, has not had its value disclosed. This strategic move aims to enhance the mill's operations and extend the life of its bubbling fluidised bed (BFB) boiler furnace. The majority of the mill's BFB boiler furnace will be fitted with coated panels designed to protect against corrosion and erosion, prolonging the furnace's lifespan. In addition to the physical upgrade, Valmet will provide Shotton Mill with comprehensive support through a long-term service agreement, which includes site inspection services. The service agreement also includes a customised online training package for Shotton Mill's employees. Shotton Mill energy manager Mehmet Arel said: 'We are delighted to continue strengthening our partnership with Valmet as they deliver this vital furnace upgrade and long-term service agreement to Shotton Mill.' Valmet EMEA service manager Nigel Earp said: 'We are very pleased to be awarded the furnace upgrade and are looking forward to safely and successfully delivering the project for Shotton Mill. 'The service agreement will further strengthen our cooperation with the customer, enabling us to develop the mill's operations together over the coming years.' Shotton Mill is currently implementing a substantial investment programme, which includes the installation of a new containerboard production line and a tissue production line, both provided by Valmet. Once these lines are operational, the mill will possess the capability to produce 750,000 tonnes per annum (tpa) of containerboard and 67,000tpa of tissue paper. In February 2025, Valmet secured a contract to supply its automation and quality management solutions to Shandong Jintianhe Paper in China. "Valmet secures Shotton Mill furnace upgrade contract in UK" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
15-05-2025
- Business
- Yahoo
Monde Nissin Corp (MNDDF) Q1 2025 Earnings Call Highlights: Revenue Growth Amid Volume Challenges
Consolidated Revenue: Increased by 2.8% year-on-year in Q1 2025. APAC BFB Revenue: Grew by 4.1% year-on-year, comprising 84% of the top line for Q1. Volume Decline: Overall volumes down by 2.9% for the quarter. Gross Profit: Modest increase of 5%. Gross Margin: Down 50 basis points on a consolidated basis. Core EBITDA: Increased slightly by 3.4%. Net Income: Consolidated net income increased by 1.5%. Core Net Income: PHP2.9 billion. Meat Alternative Sales Decline: Sales decline slowed to 6%. Meat Alternative Gross Margin: Increased by 300 basis points. Meat Alternative EBITDA: Turned positive with a 140 EBITDA. Market Share Gains: Various product lines, including biscuits and oyster sauce, showed market share improvements. Debt Reduction: Paid down GBP12 million of external borrowing. Warning! GuruFocus has detected 3 Warning Signs with MNDDF. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Monde Nissin Corp (MNDDF) reported a 2.8% year-on-year increase in consolidated revenue for Q1 2025. The APAC Branded Food and Beverage (BFB) segment, which makes up 84% of the company's top line, grew by 4.1% year-on-year. The company's flagship brands, such as Lucky Me, SkyFlakes, and Fita, continue to perform well, with Lucky Me being recognized as the number one most chosen FMCG brand for 10 consecutive years. The meat alternative segment showed significant improvement with a 300 basis point increase in gross margin and a positive EBITDA, indicating a successful transformation program. Monde Nissin Corp (MNDDF) has effectively managed its cost structure, with palm oil prices peaking and wheat prices reaching a five-year low, which should benefit future margins. Despite market share growth, Monde Nissin Corp (MNDDF) experienced a 2.9% decline in volumes for the quarter, particularly in its basic instant noodle SKUs. The UK market remains depressed, impacting the performance of the Cauldron brand and the food service business. Gross margin for the APAC BFB segment declined by 50 basis points on a consolidated basis, with edible oil costs contributing to the pressure. The meat alternative segment still faces challenges, with a 6% decline in sales and a 7.6% decline in volume. The company is facing a 10% tariff on imports to the US, which could impact the profitability of its US business. Q: Can you explain the impairment line item under APAC BFB in today's filing? A: Jesse Teo, CFO: The impairment line item was an error in the segment P&L schedule. We apologize for the mistake, and the corrected schedule will be published tomorrow. You can refer to the earnings presentation or the MD&A section for the correct segment P&L. Q: Are you on track to meet the impairment calculation guidance with Q1 results? A: Nick Cooper, CFO of Quorn Foods: Yes, the Q1 performance supports our full-year guidance, which aligns with the evaluation model for the impairment calculation. Q: What drove the decline in food service in Q1, and what is the outlook for this part of the business? A: David Flochel, CEO of Quorn Foods: The decline was due to disappointing menu wins in the last year's Q4 cycle. We are working to improve execution for this year's cycles and are seeing encouraging signs. We aim to get the food service channel back to flat by the end of the year. Q: With strong volume growth in biscuits, do you have the capacity to meet demand? A: Jesse Teo, CFO: Yes, our CapEx plan includes building new plant sites to support the volume growth in the biscuit segment, particularly for Greyham and SkyFlakes. Q: How do tariffs impact your US business, and what are your plans for it? A: David Flochel, CEO of Quorn Foods: The US business, which accounts for 5% of our sales, faces a 10% tariff on imports from the UK. Despite this, it still makes a small positive financial contribution. We are reviewing the strategy for our US business and will update later in the year. Q: How confident are you in your margin guidance given the year-over-year gross margin decline in APAC BFB results? A: Jesse Teo, CFO: We are confident due to favorable commodity lock-ins and cost-saving projects. Palm oil prices have peaked, and we have locked in favorable prices for key commodities. Q: Can you provide more details on the noodle price and volume decline in Q1? A: Jesse Teo, CFO: The decline is mainly in Instant Mami beef and chicken SKUs, which make up 29% of our volume and saw a 13% decline. We are conducting a study to understand consumer spending shifts. Q: What led to the change in the source of market share information for UK retail, and why is Cauldron lagging behind the Quorn brand? A: Nick Cooper, CFO of Quorn Foods: We switched to NIQ for broader market visibility. Cauldron is facing competition in its segments, but we are working on innovation and competitiveness to improve its performance. Q: How has the right-sizing of Quorn been going, and can we expect further cost reductions? A: David Flochel, CEO of Quorn Foods: The right-sizing is on track, and we are focusing on lean operations and supply chain transformation. Further improvements are expected as we align our organization with strategic focus areas. Q: Can we expect the EBITDA turnaround in the meat alternative business to be sustained for the rest of the year? A: Nick Cooper, CFO of Quorn Foods: We are on track for full-year EBITDA guidance, though delivery will be uneven due to planned media investments to support growth in snacking. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bahrain This Week
17-02-2025
- Business
- Bahrain This Week
Bahrain Fintech Bay wins Future Fit Seal Award
Bahrain Fintech Bay (BFB) received the Future Fit Seal award during the World Government Summit 2025 held in Dubai, recognizing Bahrain's excellence in the fintech and digital innovation landscape. The award was presented by Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) in the presence of Her Excellency Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future in the UAE Government, and other government officials. The Future Fit Seal is a national symbol launched by the Government Development and the Future Office of the UAE government. This recognition highlights Bahrain Fintech Bay's pivotal role in accelerating fintech initiatives, shaping Bahrain's fintech ecosystem, and driving financial innovation in the region. This also places Bahrain at the forefront of fintech advancements and reinforces its status as a key regional hub for financial technology and innovation. As one of the first countries in the region to introduce comprehensive, forward-thinking crypto-asset regulations, Bahrain has positioned itself as a leading hub playing a key role in the blockchain, crypto, digital assets, and fintech ecosystem. The collaboration between government entities, financial institutions, and the private sector has been instrumental in creating a regulatory and business-friendly environment for fintech innovation. Commenting on this award, Abdulwahed AlJanahi, Chairman of Bahrain FinTech Bay, said: 'Bahrain's fintech ecosystem has been built on a foundation of collaboration with different key stakeholders. The partnership between regulators, industry leaders, and innovators has enabled Bahrain to become a fintech hub that attracts both regional and international players. We are proud to receive this award as it underscores our commitment to fostering a forward-looking fintech environment conducive to attracting regional and global fintechs.' Bahrain's fintech sector has grown significantly in recent years, supported by initiatives such as the Central Bank of Bahrain's regulatory sandbox, open banking frameworks, and pro-business policies that attract global fintech firms. From his end, Bader Sater, CEO of Bahrain FinTech Bay, added, 'This award is a reflection of Bahrain's commitment to fintech excellence. At BFB, we have worked to build an ecosystem that not only supports startups and financial institutions but also capitalizes on regulatory innovation and cross-sector collaboration to grow the ecosystem. The award reiterates our efforts to position Bahrain as a leading fintech hub in the region.' Bahrain FinTech Bay, a subsidiary of Benefit, continues to play a key role in advancing the MENA fintech ecosystem, supporting startups, investors, and financial institutions, and enabling Bahrain's position as a regional leader in digital finance and innovation.
Gulf Insider
16-02-2025
- Business
- Gulf Insider
Bahrain Fintech Bay Recognized for Fintech Excellence with Future Fit Seal Award
Bahrain Fintech Bay (BFB) received the Future Fit Seal award during the World Government Summit 2025 held in Dubai, recognizing Bahrain's excellence in the fintech and digital innovation landscape. The award was presented by Sheikha Latifa, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) in the presence of HE Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future in the UAE Government, and other government officials. The Future Fit Seal is a national symbol launched by the Government Development and the Future Office of the UAE government. This recognition highlights Bahrain Fintech Bay's pivotal role in accelerating fintech initiatives, shaping Bahrain's fintech ecosystem, and driving financial innovation in the region. The collaboration between government entities, financial institutions, and the private sector has been instrumental in creating a regulatory and business-friendly environment for fintech innovation. Commenting on this award, Abdulwahed AlJanahi, Chairman of Bahrain FinTech Bay, said: 'Bahrain's fintech ecosystem has been built on a foundation of collaboration with different key stakeholders. The partnership between regulators, industry leaders, and innovators has enabled Bahrain to become a fintech hub that attracts both regional and international players. We are proud to receive this award as it underscores our commitment to fostering a forward-looking fintech environment conducive to attracting regional and global fintechs.' Bahrain's fintech sector has grown significantly in recent years, supported by initiatives such as the Central Bank of Bahrain's regulatory sandbox, open banking frameworks, and pro-business policies that attract global fintech firms. From his end, Bader Sater, CEO of Bahrain FinTech Bay, added, 'This award is a reflection of Bahrain's commitment to fintech excellence. At BFB, we have worked to build an ecosystem that not only supports startups and financial institutions but also capitalizes on regulatory innovation and cross-sector collaboration to grow the ecosystem. The award reiterates our efforts to position Bahrain as a leading fintech hub in the region.' Bahrain FinTech Bay, a subsidiary of Benefit, continues to play a key role in advancing the MENA fintech ecosystem, supporting startups, investors, and financial institutions, and enabling Bahrain's position as a regional leader in digital finance and innovation.
Zawya
16-02-2025
- Business
- Zawya
Bahrain Fintech Bay recognized for fintech excellence with Future Fit Seal Award
Manama, Bahrain – Bahrain Fintech Bay (BFB), the Kingdom's fintech ecosystem builder, which is strategically supported by the Bahrain Economic Development Board (Bahrain EDB), received the Future Fit Seal award during the World Government Summit 2025 held in Dubai, recognizing Bahrain's excellence in the fintech and digital innovation landscape. The award was presented by Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) in the presence of Her Excellency Ohood bint Khalfan Al Roumi, Minister of State for Government Development and the Future in the UAE Government, and other government officials. The Future Fit Seal is a national symbol launched by the Government Development and the Future Office of the UAE government. This recognition highlights Bahrain Fintech Bay's pivotal role in accelerating fintech initiatives, shaping Bahrain's fintech ecosystem, and driving financial innovation in the region. This also places Bahrain at the forefront of fintech advancements and reinforces its status as a key regional hub for financial technology and innovation. As one of the first countries in the region to introduce comprehensive, forward-thinking crypto-asset regulations, Bahrain has positioned itself as a leading hub playing a key role in the blockchain, crypto, digital assets, and fintech ecosystem. The collaboration between government entities, financial institutions, and the private sector has been instrumental in creating a regulatory and business-friendly environment for fintech innovation. Commenting on this award, Abdulwahed AlJanahi, Chairman of Bahrain FinTech Bay, said: 'Bahrain's fintech ecosystem has been built on a foundation of collaboration with different key stakeholders. The partnership between regulators, industry leaders, and innovators has enabled Bahrain to become a fintech hub that attracts both regional and international players. We are proud to receive this award as it underscores our commitment to fostering a forward-looking fintech environment conducive to attracting regional and global fintechs.' Bahrain's fintech sector has grown significantly in recent years, supported by initiatives such as the Central Bank of Bahrain's regulatory sandbox, open banking frameworks, and pro-business policies that attract global fintech firms. From his end, Bader Sater, CEO of Bahrain FinTech Bay, added, 'This award is a reflection of Bahrain's commitment to fintech excellence. At BFB, we have worked to build an ecosystem that not only supports startups and financial institutions but also capitalizes on regulatory innovation and cross-sector collaboration to grow the ecosystem. The award reiterates our efforts to position Bahrain as a leading fintech hub in the region.' Bahrain FinTech Bay, a subsidiary of Benefit, continues to play a key role in advancing the MENA fintech ecosystem, supporting startups, investors, and financial institutions, and enabling Bahrain's position as a regional leader in digital finance and innovation.
