Latest news with #FTG
Forbes
12 hours ago
- Business
- Forbes
Strategies To Retire Without Running Out Of Money
Nearly two in three Americans (64%) are more worried about running out of money in retirement than ... More they are about death. Nearly two in three Americans (64%) are more worried about running out of money in retirement than they are about death, according to the 2025 Annual Retirement Study from the Allianz Center for the Future of Retirement. As one might expect, exhausting funds without the recourse of youth or the remedy of an income-driven career can generate anxiety. However, knowledge can be a useful tool, and the more individuals understand about their retirement needs, the less intimidating the prospect may become. A simple yet powerful method for estimating how much money one requires to retire with peace of mind and how investments may contribute to achieving that amount is a strategy called Fill The Gap, or FTG. A simple yet powerful method is a strategy called Fill The Gap, or FTG. (Photo by Keystone/Getty ... More Images) Use the 25x Rule of thumb as a guideline. Now that the gap size has been assessed, determine how much in liquid investments would be required to cover it. Use the 25x Rule of thumb as a guideline. Start with the gap amount, in this case $3,000. Next, multiply that number by 25 to find the total savings goal. The 25x Rule of thumb is simply the inverse of the widely utilized 4% Rule of thumb, which helps determine how much money can be withdrawn to adequately fund monthly expenses without depleting the nest egg. In other words, how to max out a retirement lifestyle without running out of financial resources. In the example used: Creating a portfolio that balances both income and growth has worked as an effective fill the gap ... More strategy for many happy retirees. Creating a portfolio that balances both income and growth has worked as an effective fill the gap strategy for many happy retirees. Many investors have achieved yields of 3.5% to 4.5%, generating cash flow that helps offset expenses without eroding the principal too quickly. Nothing is guaranteed and investments may not perform as they have in the past, but the overall goal is an annual return in the 6.5% to 7.5% range. A critical factor many retirees overlook is how taxes might change in retirement. A critical factor many retirees overlook is how taxes might change in retirement. Often, they see their effective tax rate drop significantly, sometimes falling to half of what they paid during their primary working years. Why? There are a few possible reasons: Because of this potential dynamic, it's often more constructive to calculate FTG numbers using after-tax figures. Identify a gap and create a plan to fill it. While every retiree's financial picture is unique—whether they have a pension, own a business, or manage different spending levels—the FTG method tends to be universally applicable. Regardless of variables like marital status, investment comfort levels, or spending habits, the fundamental math remains the same: identify a gap and create a plan to fill it. Using the FTG method to assess targets can highlight the importance of understanding real-life expenses when planning for retirement. Everyday costs add up quickly, and having a clear financial checkpoint helps ensure that both necessities and indulgences can be covered. Why indulgences? Because if a retirement isn't fulfilling, what was the point of the hard work it took to create it? By using the FTG strategy and the 25x Rule of thumb, much of the guesswork can be removed from retirement planning. Instead of worrying about dwindling financial means, a clear, numbers-driven roadmap can proactively facilitate savings and investments to help empower financial security and happiness. Retirement should be a time to enjoy the fruits of labor, not labor over assets bearing enough fruit. Knowing the size of the gap—and how to fill it—can bolster peace of mind and foster a purposeful retirement. Knowing the size of the gap—and how to fill it—can bolster peace of mind and foster a purposeful ... More retirement.
Globe and Mail
09-04-2025
- Business
- Globe and Mail
Firan Technology Group Corporation ('FTG') Announces First Quarter 2025 Financial Results
TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced financial results for first quarter of 2025. First Quarter Financial Highlights: Bookings: Total bookings reached $51.5 million, marking a 37% increase over Q1 2024. Backlog: The quarter-end backlog stood at $142.5 million, a 43% rise from the previous year. Revenue: Reached $42.9 million, a 22.6% increase over Q1 2024. Adjusted EBITDA: Recorded at $8.4 million, up from $4.6 million in Q1 2024. Adjusted Net Earnings: Rose by 214% to $3.3 million. Net Debt: Maintained a strong balance sheet with net debt of $8.3 million, including $13.6 million of government loans, after $6.6 million in investments in Q1 2025. Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $9.3M in Q1 2025. Business Highlights: In Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth. FLYHT Acquisition: In Q1 2025, FTG acquired FLYHT Aerospace Solutions Ltd., enhancing FTG's presence in the commercial aerospace aftermarket and expanding its product offerings on Airbus aircraft. This acquisition aligns with FTG's strategic priorities, and plans include ramping up sales of FLYHT's product lines and insourcing manufacturing to other FTG sites. De Havilland Contract: Also during Q1 2025, FTG announced that De Havilland Aircraft of Canada Ltd. has selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft. New Facility: FTG announced plans to open an Aerospace facility in Hyderabad, India, to support strategic growth and expand market presence. Banking Agreement: Completed a new three-year banking agreement with BMO Corporate Finance, providing improved flexibility and reduced costs to support growth and corporate development objectives. Leadership Announcements: Bill Sezate has joined the Corporation as Executive Vice President, FTG Circuits reporting to Brad Bourne. Bill comes to FTG with extensive experience in all aspects in the circuit board industry. In addition, Marko Viinikka is joining the Corporation in a newly created role as Executive Vice President, FTG Aerospace reporting to Brad Bourne. Marko comes to FTG with extensive experience in all aspects of the Aerospace industry. Financial Tables: Table 1: Key Financial Metrics (Quarterly) Metric Q1 2025 Q1 2024 % Change Sales $42,874,000 $34,975,000 22.6% Gross Margin $13,326,000 $8,929,000 49.2% Gross Margin (%) 31.08% 25.53% 555bps Net Earnings to FTG Equity Holders $3,167,000 $1,050,000 201.6% Adjusted Net Earnings (1) $3,294,000 $1,050,000 213.7% Earnings Per Share (Basic) $0.13 $0.04 225.0% Earnings Per Share (Diluted) $0.13 $0.04 225.0% Adjusted Earnings Per Share (Basic) (1) $0.13 $0.04 225.0% Adjusted Earnings Per Share (Diluted) (1) $0.13 $0.04 225.0% (1) Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards ('IFRS'). Management believes that this measure is important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations. Table 2: EBITDA Metric Q1 2025 Q1 2024 % Change Q1 2025 vs Q1 2024 Trailing 12 Months Ended Q1 2025 Net Earnings to Equity Holders $3,167,000 $1,050,000 $12,932,000 Add: Interest, Accretion $618,000 $527,000 $2,301,000 Add: Income Taxes $1,591,000 $689,000 $4,995,000 Add: Depreciation and Amortization $2,575,000 $2,040,000 $8,880,000 EBITDA (2) $7,951,000 $4,306,000 84.65% $29,108,000 Adjustments Stock Based Compensation $254,000 $248,000 $659,000 Acquisition and Divestiture Expenses $107,000 $0 $511,000 India Startup Costs $63,000 $0 $173,000 Change in Fair Value of Contingent Consideration $0 $0 ($829,000) Adjusted EBITDA (2) $8,375,000 $4,554,000 83.90% $29,622,000 Adjusted EBITDA Margin (2) 19.5% 13.0% 17.4% (2) EBITDA and Adjusted EBITDA are not measures recognized under International Financial Reporting Standards ('IFRS'). Management believes that these measures are important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating EBITDA and Adjusted EBITDA may differ from other corporations and accordingly may not be comparable to measures used by other corporations CEO Commentary: 'Our first quarter was a great start to 2025,' stated Brad Bourne, President and CEO of FTG. 'All metrics in the quarter were positive from bookings, to sales, to margins, to net income and cash flow, showing that our investments in technology, operational performance and our acquisitions are all helping to position us for success. We are seeing strong end market demand and the current situation from tariffs levied by the US does not appear to have any direct impact on us.' About Firan Technology Group Corporation: FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units: FTG Circuits: A manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts, and a joint venture in Tianjin, China. FTG Aerospace: Designs, certifies, manufactures, and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California, and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. Conference Call Details: FTG will host a live conference call on Thursday, April 10, 2025, at 8:30 a.m. (Eastern) to discuss the financial results. The call will be chaired by Mr. Brad Bourne, President and CEO of FTG. Participants can join the call by dialing 1-289-514-5100 or 1-800-717-1738 and using Conference ID 50841. A replay of the call will be available until May 10, 2025, and can be accessed by dialing 1-289-819-1325 or 1-888-660-6264, Playback Passcode# 50841. The replay will also be available on the FTG website at Forward-Looking Statements: This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For further information please contact:
Yahoo
09-04-2025
- Business
- Yahoo
Firan Technology Group Corporation ('FTG') Announces First Quarter 2025 Financial Results
TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation (TSX: FTG) (OTCQX: FTGFF) today announced financial results for first quarter of 2025. First Quarter Financial Highlights: Bookings: Total bookings reached $51.5 million, marking a 37% increase over Q1 2024. Backlog: The quarter-end backlog stood at $142.5 million, a 43% rise from the previous year. Revenue: Reached $42.9 million, a 22.6% increase over Q1 2024. Adjusted EBITDA: Recorded at $8.4 million, up from $4.6 million in Q1 2024. Adjusted Net Earnings: Rose by 214% to $3.3 million. Net Debt: Maintained a strong balance sheet with net debt of $8.3 million, including $13.6 million of government loans, after $6.6 million in investments in Q1 2025. Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $9.3M in Q1 2025. Business Highlights: In Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth. FLYHT Acquisition: In Q1 2025, FTG acquired FLYHT Aerospace Solutions Ltd., enhancing FTG's presence in the commercial aerospace aftermarket and expanding its product offerings on Airbus aircraft. This acquisition aligns with FTG's strategic priorities, and plans include ramping up sales of FLYHT's product lines and insourcing manufacturing to other FTG sites. De Havilland Contract: Also during Q1 2025, FTG announced that De Havilland Aircraft of Canada Ltd. has selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft. New Facility: FTG announced plans to open an Aerospace facility in Hyderabad, India, to support strategic growth and expand market presence. Banking Agreement: Completed a new three-year banking agreement with BMO Corporate Finance, providing improved flexibility and reduced costs to support growth and corporate development objectives. Leadership Announcements: Bill Sezate has joined the Corporation as Executive Vice President, FTG Circuits reporting to Brad Bourne. Bill comes to FTG with extensive experience in all aspects in the circuit board industry. In addition, Marko Viinikka is joining the Corporation in a newly created role as Executive Vice President, FTG Aerospace reporting to Brad Bourne. Marko comes to FTG with extensive experience in all aspects of the Aerospace industry. Financial Tables: Table 1: Key Financial Metrics (Quarterly) Metric Q1 2025 Q1 2024 % Change Sales $42,874,000 $34,975,000 22.6% Gross Margin $13,326,000 $8,929,000 49.2% Gross Margin (%) 31.08% 25.53% 555bps Net Earnings to FTG Equity Holders $3,167,000 $1,050,000 201.6% Adjusted Net Earnings (1) $3,294,000 $1,050,000 213.7% Earnings Per Share (Basic) $0.13 $0.04 225.0% Earnings Per Share (Diluted) $0.13 $0.04 225.0% Adjusted Earnings Per Share (Basic) (1) $0.13 $0.04 225.0% Adjusted Earnings Per Share (Diluted) (1) $0.13 $0.04 225.0% (1) Adjusted Net Earnings is not a measure recognized under International Financial Reporting Standards ('IFRS'). Management believes that this measure is important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating Adjusted Net Earnings may differ from other corporations and accordingly may not be comparable to measures used by other corporations. Table 2: EBITDA Metric Q1 2025 Q1 2024 % Change Q1 2025 vs Q1 2024 Trailing 12 Months Ended Q1 2025 Net Earnings to Equity Holders $3,167,000 $1,050,000 $12,932,000 Add: Interest, Accretion $618,000 $527,000 $2,301,000 Add: Income Taxes $1,591,000 $689,000 $4,995,000 Add: Depreciation and Amortization $2,575,000 $2,040,000 $8,880,000 EBITDA (2) $7,951,000 $4,306,000 84.65% $29,108,000 Adjustments Stock Based Compensation $254,000 $248,000 $659,000 Acquisition and Divestiture Expenses $107,000 $0 $511,000 India Startup Costs $63,000 $0 $173,000 Change in Fair Value of Contingent Consideration $0 $0 ($829,000) Adjusted EBITDA (2) $8,375,000 $4,554,000 83.90% $29,622,000 Adjusted EBITDA Margin (2) 19.5% 13.0% 17.4% (2) EBITDA and Adjusted EBITDA are not measures recognized under International Financial Reporting Standards ('IFRS'). Management believes that these measures are important to many of the Corporation's shareholders, creditors and other stakeholders. The Corporation's method of calculating EBITDA and Adjusted EBITDA may differ from other corporations and accordingly may not be comparable to measures used by other corporations CEO Commentary: 'Our first quarter was a great start to 2025,' stated Brad Bourne, President and CEO of FTG. 'All metrics in the quarter were positive from bookings, to sales, to margins, to net income and cash flow, showing that our investments in technology, operational performance and our acquisitions are all helping to position us for success. We are seeing strong end market demand and the current situation from tariffs levied by the US does not appear to have any direct impact on us.' About Firan Technology Group Corporation: FTG is an aerospace and defence electronics product and subsystem supplier to customers around the globe. FTG has two operating units: FTG Circuits: A manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defence, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia, Minnetonka, Minnesota, Haverhill, Massachusetts, and a joint venture in Tianjin, China. FTG Aerospace: Designs, certifies, manufactures, and provides in-service support for illuminated cockpit products and electronic assemblies for original equipment manufacturers and operators of aerospace and defence equipment. FTG Aerospace has operations in Toronto, Ontario, Calgary, Alberta, Chatsworth, California, and Tianjin, China. The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG, and on the OTCQX Exchange under the symbol FTGFF. Conference Call Details: FTG will host a live conference call on Thursday, April 10, 2025, at 8:30 a.m. (Eastern) to discuss the financial results. The call will be chaired by Mr. Brad Bourne, President and CEO of FTG. Participants can join the call by dialing 1-289-514-5100 or 1-800-717-1738 and using Conference ID 50841. A replay of the call will be available until May 10, 2025, and can be accessed by dialing 1-289-819-1325 or 1-888-660-6264, Playback Passcode# 50841. The replay will also be available on the FTG website at Forward-Looking Statements: This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as 'anticipate', 'believe', 'expect', 'plan' or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. For further information please contact: Bradley C. Bourne, President and CEO Firan Technology Group Corporation Tel: (416) 299-4000 x314 bradbourne@ Jamie Crichton, Vice President and CFO Firan Technology Group Corporation Tel: (416) 299-4000 x264 jamiecrichton@ Additional information can be found at the Corporation's website in to access your portfolio
Forbes
27-03-2025
- Business
- Forbes
Nujuma, A Ritz-Carlton Reserve Named Best New Hotel
Something extraordinary has surfaced in the Red Sea. Nujuma, a Ritz-Carlton Reserve made waves with its May 2024 debut. It's the Middle East's first Reserve property and is a significant addition to Saudi Arabia's ambitious Red Sea regenerative tourism initiative. The private island resort's striking seashell-inspired villas, unspoiled natural surroundings and thoughtful embrace of Saudi culture quickly garnered acclaim, including Forbes Travel Guide's prestigious Best Opening of 2024 award. The award is part of FTG's annual Star Awards, which was announced last month. In choosing the hotel, an executive editorial committee narrowed down five finalists, which included Mandarin Oriental Mayfair, London; The Singapore EDITION; The Surrey, A Corinthia Hotel; and Waldorf Astoria Seychelles Platte Island. Readers and followers then picked the winner through an online survey. This marks the second year of the award — Atlantis The Royal won it for the Dubai hotel's 2023 debut. 'From the beginning, we tried to create something extraordinary with Nujuma,' says Tony Coveney, general manager of the property. 'As a Ritz-Carlton Reserve, the goal was to create a truly unique and one-off experience. While underpinned by The Ritz-Carlton service values, this would be a place that is transformative, pure, rare and immersive. As such, yes, this is a stunning resort with all the luxury facilities one might expect of a Five-Star environment. But it is also a 'Reserve,' a place where guests can completely disengage with the world outside and reengage with nature and a cultural experience.' The stunning Sita is a feast for the eyes. Floating amid the world's fourth-largest barrier reef, this all-villa hotel feels secluded, but it's not far from Riyadh (a 1.5-hour flight) and Jeddah (about an hour-long flight). Foster + Partners took inspiration for the architecture from the surrounding seascape. The 63 spherical villas resemble seashells, and those hovering over the water form a ring, a striking visual signature for the hotel. Inside each, you'll find natural materials, a color palette of sea and sand, and geometric patterns echoing classic regional designs. Traditional ceramics, woven Saudi rugs and elaborate wall hangings ground your experience in a sense of place. Each comes with a large living room, kitchen, deck, pool and telescope — stargazing is a nod to the property's celestial namesake, since Nujuma comes from the Arabic word najoom, meaning 'the stars.' There's even an on-staff astronomer who leads nightly sessions under the remarkably clear skies. Yoga and other activities are included in your stay. There's much to do under those stars. When you aren't dining at noted chef Lucas Julien-Vauzelle's four restaurants (there's a starry bar serving celestial-themed mocktails, too) or retreating to the tranquility of Neyrah Spa (which offers a hammam, vitality and lap pools, five water-facing treatment rooms and three outdoor treatment cabins), you can learn about Saudi Arabia's wildlife and ecosystems with the resident naturalist; take classes about the country's history, art and traditions with the on-staff Saudi culture expert; gather for beach bonfires; and enhance your wellbeing with yoga, Pilates, meditation and other sessions. All these activities are included with your stay. Marine enthusiasts can visit the fully equipped dive center to explore the vibrant underwater world. Snorkel or scuba dive along the pristine reef to encounter 165 endemic fish species, playful dolphins, graceful hawksbill turtles and majestic stingrays. For those preferring to stay above the surface, the resort offers kayaks, stand-up paddleboards and catamarans. Local ingredients make dishes burst with flavor. Solar-powered, the luxury hotel was built with sustainability in mind. The restaurants use local ingredients. The property treats and reuses its gray water. And guests are encouraged to pitch in with the eco-friendly efforts by planting mangroves — the tally is 28,000 thus far. '[Nujuma] is a sanctuary for nature and culture, an expression of Saudi hospitality through extraordinary personal experiences that leave lasting impressions on our guests,' Coveney says. 'As the island matures and develops with time, we want to be at the forefront of sustainable business practices that are gentle on the environment and show a kind of hospitality that is in harmony with the pristine nature surrounding us in the Red Sea. We want our guests to be immersed in a world connected to nature and disconnected from the noise and distraction of everyday life.' Each villa comes with a personal host. Credit: As with other Ritz-Carlton Reserve hotels, service is a distinguishing feature. Each villa comes with a najm or najma, a personal host who can arrange all aspects of your stay. 'Our personal hosts are dedicated to a one-to-one service experience that is truly personal,' Coveney says. This approach extends beyond routine requests like booking a dinner or requesting an extra pillow to help you create meaningful memories during your stay. 'The Ritz-Carlton talks a lot about 'mystique,'' he says. 'We look for opportunities to truly wow our guests in both small and big ways.'
Trade Arabia
20-02-2025
- Business
- Trade Arabia
Waldorf Astoria Maldives Ithaafushi earns Forbes five-star rating again
Waldorf Astoria Maldives Ithaafushi has once again secured the prestigious Forbes Travel Guide (FTG) Five-Star rating, marking its third consecutive year of recognition by the world's only independent global rating system for luxury hospitality. This accolade reinforces the resort's reputation as a benchmark for unparalleled luxury, impeccable service and transformative guest experiences. 'This achievement is more than an award—it is a testament to the unwavering dedication of our team, who continuously redefine what luxury hospitality means in the Maldives,' said TJ Joulak, general manager of Waldorf Astoria Maldives Ithaafushi. 'To be recognized for three consecutive years by Forbes Travel Guide reaffirms our promise to deliver an extraordinary level of service, ensuring that every moment spent at our resort is unforgettable.' This highly coveted accolade underscores the resort's unwavering commitment to elevating guest experiences, cementing its status among the world's most luxurious destinations. The resort's consistent excellence is further highlighted by its continued recognition for the third consecutive year, maintaining its place as a premier choice for discerning travellers. The Forbes Travel Guide Star Rating is one of the industry's most rigorous and respected distinctions, with properties evaluated against 900 exacting criteria that emphasize flawless service, exceptional facilities, and an unwavering commitment to excellence. Only properties that demonstrate consistently extraordinary experiences earn a Five-Star rating. - TradeArabia News Service
