Latest news with #CanadianNavy
CBC
6 hours ago
- CBC
Come aboard with us, breaking ice in Antarctica
Take a seat in the captain's chair, dodging icebergs and breaking ice, as CBC News gets exclusive access to the first all-Canadian expedition to the Antarctic. Come aboard HMCS Margaret Brooke on its historic journey.
CBC
4 days ago
- General
- CBC
How to watch CBC's coverage of 1st all-Canadian Antarctic expedition
Antarctica is like nowhere else on Earth. Icy and unforgiving and not owned by any one nation. But with threats to polar security and the splintering world order, can Antarctica stay neutral and unclaimed? In February, CBC's international climate correspondent Susan Ormiston, along with her producer and videographer, joined polar climate scientists and the Canadian Navy for a month-long journey to the Antarctic. It was the first all-Canadian trip to the continent. With exclusive access, Susan and her team documented stunning vistas, curious penguins and the gritty daily grind of scientific field work as HMCS Margaret Brooke made its way through towering icebergs, beyond the Antarctic Circle to the South Pole. Up close and personal with a melting glacier Some of their footage and reporting was captured in a one-hour special program about the historic Canadian Antarctic expedition. Here's when and where else you can watch:
5 days ago
- Politics
Marc Garneau, 1st Canadian astronaut in space, dead at 76
Former astronaut and cabinet minister Marc Garneau has died. He was 76. A statement from his wife, Pam Garneau, says he passed away peacefully after a short illness, surrounded by his family. Marc faced his final days with the same strength, clarity and grace that defined his life, the statement says. She says the family is grateful for the outpouring of support, concern and kind words received over the past few days and also asks for privacy as we grieve this profound loss and take time to reflect and heal. Garneau was born on Feb. 23, 1949, in Quebec City. He studied engineering physics at the Royal Military College of Kingston, graduating in 1970, and he earned a doctorate in electrical engineering from the Imperial College of Science and Technology in London in 1973. He then began his career by enlisting in the Canadian Navy, where he served from 1974 to 1983. After that, Garneau became the first Canadian to travel to space as part of a NASA mission in 1984. After holding various positions at the Canadian Space Agency, he became its first vice-president, then its president, from late 2001 until 2005. Marc was my role model, mentor, 30-plus-year close friend and an exemplary Canadian for us all, said former Canadian astronaut Chris Hadfield in a statement. My heart goes out to his family. The world lost a very good man. In 2008, Garneau was elected as a Liberal in what was then the Quebec riding of Westmount–Ville-Marie. In 2013, ridings were redrawn, and he was elected to represent Notre-Dame-de-Grâce–Westmount. He served as minister of transport in Justin Trudeau's government from 2015 to 2021, and then as minister of foreign affairs from January to October 2021. Garneau resigned from the House of Commons in March 2023. On X Wednesday, Trudeau says he was in school in the early 1980s when he first met Garneau. I was in awe of his service and courage then, and continued to be so when I had the privilege of serving alongside him in Parliament and in government, says Trudeau. Throughout his life, Marc truly embodied and radiated the greatness of Canada. Garneau was well known in the community Westmount Mayor Christina Smith remembers volunteering on Garneau's campaigns before he took office, and served on his riding association. He was so incredibly generous with his time with people, and especially kids, said Smith, recalling him visiting a robotics summer camp or reading Hadfield's book to children last summer. Everywhere he went, kids wanted to talk to him, she said. And not only was Garneau working to keep local organizations funded and attending events, he was also a Westmounter whom people would see walking down Sherbooke Street, stopping by the pharmacy or grocery shopping, she said. People got to see him. They got to know him, said Smith. He was so respected. All the tributes you're going to see, they're so genuine. WATCH | Remember Marc Garneau's trip to space: Début du widget Widget. Passer le widget ? Fin du widget Widget. Retourner au début du widget ? Marc Garneau's 'extraordinary ride' through space, life and politics (new window) Chief political correspondent Rosemary Barton speaks with former Liberal minister of foreign affairs and Canada's first astronaut Marc Garneau, about his life on this planet and outside of it: being the first Canadian astronaut, his political career and his relationship with the prime minister. Peter McQueen, a city councillor in Notre-Dame-de-Grâce (NDG), got to know Garneau over the years and the more I got to know him, the more I liked him, he told CBC News Wednesday afternoon. McQueen remembers how Garneau was known for showing up at community events and being involved on the local level, despite his busy life in Ottawa. He was an honest guy. He was a hard-working guy. He was a smart guy, said McQueen. The people of NDG came to appreciate him. David Lametti, former minister of justice and attorney general of Canada, described Garneau as a hero to all of us. And he will be missed, he said. 'I always did my best': Garneau As transport minister, Garneau introduced Canada's passenger bill of rights in 2018 which includes measures such as prohibiting airlines from bumping passengers from a flight against their will. In 2019, Garneau described it (new window) as a world-leading approach to air passenger rights that would be predictable and fair for passengers. As foreign affairs minister in September 2021, he boarded an overnight flight on a government jet with Trudeau to greet in person Michael Kovrig and Michael Spavor, the two Canadian men detained in China (new window) for nearly three years. Peter McQueen, a city councillor in Notre-Dame-de-Grâce (NDG), got to know Garneau over the years and the more I got to know him, the more I liked him, he told CBC News Wednesday afternoon. McQueen remembers how Garneau was known for showing up at community events and being involved on the local level, despite his busy life in Ottawa. He was an honest guy. He was a hard-working guy. He was a smart guy, said McQueen. The people of NDG came to appreciate him. David Lametti, former minister of justice and attorney general of Canada, described Garneau as a hero to all of us. And he will be missed, he said. 'I always did my best': Garneau As transport minister, Garneau introduced Canada's passenger bill of rights in 2018 which includes measures such as prohibiting airlines from bumping passengers from a flight against their will. In 2019, Garneau described it (new window) as a world-leading approach to air passenger rights that would be predictable and fair for passengers. As foreign affairs minister in September 2021, he boarded an overnight flight on a government jet with Trudeau to greet in person Michael Kovrig and Michael Spavor, the two Canadian men detained in China (new window) for nearly three years. During his farewell speech in the House of Commons in early March 2023 (new window) , Garneau thanked his family, colleagues, staff, civil servants and parliamentary employees. He reflected on his time in politics and challenged younger Canadians to safeguard democracy. Nothing is perfect in this world but I like to think that I always did my best to try and make it better, he said. Although my gaze will remain on the future — as it always has — I hope that you, the young people of this country, will fashion that future and protect our democracy. A moment of silence was observed in the House of Commons on Wednesday evening. Isaac Olson (new window) · CBC News
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Kraken Robotics Reports Q1 2025 Financial Results and Reiterates 2025 Guidance
ST. JOHN'S, Newfoundland and Labrador, May 29, 2025 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) ("Kraken" or the "Company"), announced it has filed its financial results for the quarter ended March 31, 2025 ('Q1 2025'). Please refer to the unaudited Consolidated Financial Statements and Management's Discussion and Analysis (' MD&A ') for quarter ended March 31, 2025, filed on for more information. Unless otherwise specified, all dollar amounts are denominated in Canadian dollars. Q1 2025 Financial Highlights Consolidated revenue in Q1 2025 decreased 23% to $16.1 million, compared to $20.9 in the prior year. The decrease was driven by a year-over-year decline in Product revenue. Product revenue in the quarter decreased 42% to $9.2 million, compared to $15.8 million in the prior year. While the quarter saw significant growth in our SeaPower™ subsea battery business, our sonar related revenue declined as the acquisition part of the Canadian Navy system integration project nears completion. As in the past, quarterly revenue can fluctuate significantly due to the timing of product orders and shipments. Service revenue in the quarter increased 38% to $7.0 million compared to the prior year due to the continued demand for Sub-Bottom Imager™ and Acoustic Corer™ services. Just after the quarter ended, we completed the acquisition of subsea LiDAR services company, 3D at Depth. Combined with the recent introduction of our KATFISH subsea survey platform into the commercial offshore service market, we have a growing complement of solutions to offer our expanding Services customer base. Gross profit in the quarter increased 8% to $10.1 million, compared to $9.3 million in the prior year, implying a gross margin of 62.7% compared to 44.8%. Gross margin percentage was impacted by several one time items in the quarter. Future quarters are expected to be reflective of our historic gross profit margins. Adjusted EBITDA 1 for the quarter decreased 32% to $2.8 million, compared to Adjusted EBITDA 1 of $4.1 million in the comparable quarter, implying an adjusted EBITDA 1 margin of 17.3% compared to 19.6% in the comparable year. Total assets were $178.8 million on March 31, 2025, compared to $73.5 million on March 31, 2024. Cash at the end of the quarter totaled $58.3 million, compared to $1.5 million in the prior year, while working capital totaled $94.6 million, compared to $6.5 million in the prior year. Capital expenditures/intangible assets purchased were $2.7 million in the quarter, compared to $0.8 million in the comparable quarter. The increase is related to our new battery facility in Canada as well as growth in internal assets to drive service revenue growth. Net income for the quarter was $0.2 million compared to a profit of $2.2 million in the comparable quarter. Basic and diluted earnings per share were $0.00 compared to $0.01 in the prior year. Management Comments 'Similar to previous years, we expect financial results to improve throughout the year and expect strong top and bottom-line growth in 2025, as indicated by our 2025 financial guidance given a month ago. Our largest market of naval defense has strong macro fundamentals with growth being seen across the globe as navies modernize for the future and increasingly adopt uncrewed platforms. In providing sensor and power solutions to the major suppliers of UUVs, we benefit from this growing adoption. For our towed synthetic aperture sonar sensor platform, KATFISH, we have a busy year of customer demonstrations in North America, Europe, the Middle East, and Asia Pacific. Historically, successful demonstrations have driven future contract wins. The level of defense RFP activity expected from 2025 to 2027 is at levels the industry has not seen in many decades and is driving our optimism on this segment of our business. With new manufacturing capacity in Canada coming online at the end of this year and a growing presence in the US both organically and through our acquisition of 3D at Depth, we are well positioned to meet customer needs in the offshore energy and naval defense markets,' said Kraken President and CEO Greg Reid. Since the end of Q4, Kraken Robotics announced: Several meaningful new orders, including almost $45 million in subsea battery orders and $3 million in orders for Kraken SAS. Plans to open a new battery production facility in Nova Scotia to meet increasing defense market demand. The acquisition of subsea LiDAR company 3D at Depth with offices in Texas, Colorado, and the UK. The introduction of KATFISH synthetic aperture sonar service for the global offshore energy market. 2025 Financial Guidance Annual financial guidance remains unchanged from the guidance provided on April 28, 2025. In 2025, we expect revenue between $120 million and $135 million and Adjusted EBITDA 1 margin in the $26 million to $34 million range. The midpoint of guidance represents 40% revenue growth and 45% Adjusted EBITDA growth. Capital expenditures in 2025 are expected to range from $13 million to $17 million with approximately $10 million of this spending related to a new subsea power manufacturing facility that is expected to be operational in Nova Scotia near the end of 2025. Consistent with prior years, revenue is expected to be more weighted toward the second half of calendar year 2025. NON-IFRS MEASURES The Company has included certain non-IFRS financial measures and non-IFRS ratios in this press release, including adjusted EBITDA, adjusted EBITDA margin, gross profit, gross profit margin, and working capital. Management believes that non-IFRS financial measures and non-IFRS ratios, when supplementing measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. Non-IFRS financial measures and non-IFRS ratios do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Adjusted EBITDA and Adjusted EBITDA Margin The Company believes that, in addition to conventional measures prepared in accordance with IFRS, adjusted EBITDA is useful to securities analysts, investors and other interested parties in evaluating operating performance by presenting the results of the Company on a basis which excludes the impact of certain non-operational items which enables the primary readers of the press release to evaluate the results of the Company such that it was operating without certain non-cash and non-recurring items. Adjusted EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation and amortization, stock-based compensation expense and non-recurring impact transactions, if any. ($ 000s) Unaudited Q1 2025 Q1 2024 Net Income 215 2,175 Income Tax 304 56 Financing costs 701 388 Interest income (311) - Foreign exchange gain (433) (69) Share-based compensation 404 57 Depreciation and amortization 1,579 1,425 EBITDA - excluding restructuring and acquisition costs 2,459 4,032 Restructuring and acquisition costs 335 69 Adjusted EBITDA 2,794 4,101 Adjusted EBITDA Margin 17 % 20 % Gross profit is defined as revenue less cost of total sales. Gross margin is defined as gross margin dividend by total sales. Gross Profit ($ 000s) Unaudited Q1 2025 Q1 2024 Revenue 16,128 20,875 Cost of sales 6,010 11,529 Gross profit 10,118 9,346 Gross profit margin (%) 63 % 45 % Figure 1: Kraken's Sub-Bottom Imager (SBI) delivers 3D data, enabling a clear understanding of subsea stratigraphy, underwater infrastructure, and hazards. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. (TSX.V: PNG) (OTCQB: KRKNF) is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans – safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. LINKS: SOCIAL MEDIA: The Company and its management believe that the statements regarding 2025 revenue and adjusted EBITDA contained in this press release are reasonable as of the date hereof, are based on management's current views, strategies, expectations, assumptions and forecasts, and have been calculated using accounting policies that are generally consistent with the Company's current accounting policies. These statements are considered future-oriented financial outlooks and financial information (collectively, "FOFI") under applicable securities laws. These statements and any other FOFI included herein have been approved by management of the Company as of the date hereof. Such FOFI are provided for the purposes of presenting information about management's current expectations and goals relating to the Company's expected growth in its Products and Services groups. However, because this information is highly subjective and subject to numerous risks, including the risks discussed in the disclaimer for forward looking statements below, it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the FOFI prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although management of the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any FOFI, whether as a result of new information, future events or otherwise, except as required by securities laws. Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Marketing Joe MacKay, Chief Financial Officer (416) 303-0605 jmackay@ Greg Reid, President & CEO (416) 818-9822 greid@ Sean Peasgood, Investor Relations (647) 955-1274 sean@ 1 Adjusted EBITDA is a non-IFRS financial measure and gross margin, and adjusted EBITDA margin are non-IFRS ratios, in each case with no standard meaning under IFRS, and may not be comparable to similar financial measures disclosed by other issuers. Refer to the "Non-IFRS Measures" section of this press release. A photo accompanying this announcement is available at
Yahoo
28-05-2025
- Business
- Yahoo
thyssenkrupp Marine Systems strengthens its commitment in Canada with a new capital city representative office in Ottawa
thyssenkrupp Marine Systems invests in long-term cooperation with Canada 212CD-Class submarines can contribute to Canada's defense capabilities OTTAWA, ON, May 28, 2025 /CNW/ - thyssenkrupp Marine Systems is opening a representative office in Canada to intensify cooperation with local stakeholders and strengthen its local presence. This step underscores thyssenkrupp Marine Systems' ambition to focus its work on the needs of the Canadian Navy. The opening of the office in Ottawa marks an important milestone in the 212CD project for Canada. In view of the changing global security situation, international relations are of crucial importance. The new location will enable even closer cooperation with existing and potential customers in order to optimally meet the specific requirements of the Canadian Navy. 'Our representative office in Canada has the potential to become a hub for North America in the long term. We want to raise our profile and underline our commitment beyond our project plans – because we are here to stay: we are not just interested in a contract – we are interested in a long-term strategic partnership with Canada,' explains Oliver Burkhard, CEO of thyssenkrupp Marine Systems. 'We are seeing growing international demand for modern, reliable system solutions and are convinced that the 212CD-Class can play a key role here,' he adds. A look at the current projects makes it clear that the production of the existing 212CD submarines for Germany and Norway is on schedule. At the end of 2024, thyssenkrupp Marine Systems received an order extension for four submarines from Germany. In international business, too, the recent signing of a contract for two additional submarines for Singapore underscores thyssenkrupp Marine Systems' strong position and contributes to the current increase in the order book to around €18 billion. Norway and Canada have identical intended uses and areas of operation for the 212CD. In addition, the 212CD can be integrated into global security missions at bilateral, multinational and NATO level in various environments. About thyssenkrupp Marine Systems thyssenkrupp Marine Systems is one of the world's leading naval companies with more than 8,000 employees at three shipyards in Kiel, Wismar and Itajaí (Brazil), and with locations worldwide. The company is active as a systems supplier for submarines and naval surface vessels as well as for maritime electronics and security technologies. Around 3,300 employees work at the Kiel site, making it the largest shipyard location in Germany. 185 years of history and the constant striving for improvement allow the company to set new standards time and time again. thyssenkrupp Marine Systems offers its customers worldwide tailored solutions to meet the highly complex challenges of a changing world. The driving forces behind this innovative energy are the company's employees, who shape the future of thyssenkrupp Marine Systems with passion and commitment every day. More information at: Click here for current footage material. SOURCE thyssenkrupp Marine Systems View original content to download multimedia: 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
