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7 days ago
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PRESS RELEASE: NACON: FULL YEAR 2024/25 RESULTS
Press release Lesquin, 2 June 2025 - 6pm CEST FULL YEAR 2024/25 RESULTS:DELAYS TO SEVERAL NEW RELEASES AFFECTED EARNINGS IN 2024/25 BUT WILL LEAD TO STRONG GROWTH IN 2025/26, STARTING IN THE FIRST HALF In its 2 June 2025 meeting, the Board of Directors of NACON (ISIN FR0013482791) approved the financial statements for the year ended 31 March 2025. The Statutory Auditors' report will be issued when the Universal Registration Document is published. Consolidated IFRS figures (€ million) 2024-2025 2023-2024 Sales (IFRS) 167.9 167.7 Gross profit 108.1 104.262.1% EBITDA before non-recurring items 55.9 56.733.8% Non-recurring items (reversal of earn-out provisions) 3.7 14.2 EBITDA 59.6 70.9 Operating income 1.1 20.9 Net financial income/(expense) (5.8) (4.8) Profit before tax (4.7) 16.1 Income tax 3.3 1.5 Net income for the period (1.3) 17.5 After NACON postponed the launch of several games and accessories until the 2025/26 financial year, its sales amounted to €167.9 million in full-year 2024/25, stable year-on-year. Sales totalled €97.1 million in Gaming, €65.2 million in Accessories and €5.6 million in other activities. Gross margin improved to 64.4% as opposed to 62.1% in the 2023/24 financial year. Ebitda before non-recurring items was stable at €55.9 million. The release of Test Drive Unlimited during the year caused depreciation/amortisation of non-current assets to increase by €8.5 million year-on-year to €58.5 million. Operating income was €1.1 million. Higher interest rates explain the change in net financial expense: the current average interest rate on bank borrowings is 3.0%. Exchange differences remained stable (foreign exchange loss of €1.1 million versus a loss of €0.8 million in the previous year). At 31 March 2025, NACON had equity of €284.4 million, including the July 2024 capital increase, as opposed to €263.6 million at 31 March 2024. Available cash amounted to €29.3 million as opposed to €26.2 million at 31 March 2024. Net debt, excluding IFRS 16 and earn-out liabilities, totalled €104.0 million. Funds from operations remained stable at €57.9 million. Currently, 40 games are under development, and the related assets have a carrying amount of €124.5 million. Dividend: The Board of Directors decided in its 2 June 2025 meeting not to propose a dividend with respect to the 2024/25 financial year in its upcoming Shareholders' General Meeting. 2025-2026 : Strong growth in business levels and operating income starting in the first half Gaming business: The 2025/26 line-up of games presented during Bigben Week 2025 included around 15 games. The release schedule will be busy in the first half of the financial year (1 April - 30 September), including the release of several major games: Adventure: After winning over fans with in 2023, Robocop is making a comeback in which is scheduled for release on 17 July. another hotly anticipated game, will be available from 4 September 2025. Sport: which came out in early May and has already racked up impressive sales figures . Racing: Season 4 of featuring a casino. Simulation: and downloadable content (DLC) relating to several successful games Releases scheduled for the second half of the financial year (1 October - 31 March) are: Adventure: Sport: . Racing: , and seasons 5 and 6 of Because of the number of games released in 2024/25, Back Catalogue sales in 2025/26 are likely to be similar to the level achieved last year. NACON has also just announced a new agreement with WRC Promoter in relation to the World Rally Championship (WRC) licence. The licence covers the development and publication of games and official WRC eSports competitions, and gives NACON exclusive rights on PC and consoles for six seasons from 2027 to 2032. Accessories business: Performance in the current year will also be supported by the launch of new accessories, confirming the expertise acquired by NACON in this area: Since it was released on 23 April, the controller has been getting rave reviews from industry figures. It has achieved an average rating of 9/10 in the specialist press. The range has just been launched with the RS Pure steering wheel, the DD-9Nm base and the RS Pure pedal set. For the release of the Nintendo SwitchTM2, NACON has developed around 30 accessories specifically for the console. With its strong positions in two complementary business areas, a busy release schedule in the current financial year and numerous upcoming product launches in the Accessories business, NACON is going into the 2025/26 financial year with confidence, buoyed by a stronger product line-up, a strategy of continuous innovation and rigorous financial discipline. Next event: Shareholders' General Meeting, 25 July 2025 First-quarter 2025/26 sales: 28 July 2025 after the market close ABOUT NACON 2024/25 IFRS SALES: €167.9 MILLION2024/25 OPERATING INCOME: €1.1 MILLIONWORKFORCEOver 1,000 employees INTERNATIONAL PRESENCE25 subsidiaries and a distribution network covering 100 countrieshttps:// NACON is part of the Bigben group and was formed in 2019 to optimise its areas of expertise and generate synergies between them in the video game market. Combining its 16 development studios, AA video game publishing and the design and distribution of premium gaming peripherals, NACON has 30 years of expertise in serving gamers. This new unified business gives NACON a stronger position in its market and enables it to innovate by creating new and unique competitive advantages. Listed on Euronext Paris, compartment B – Index: CAC Mid&SmallISIN: FR0013482791; Reuters: Bloomberg: NACON:FP CONTACT:Cap Value – Gilles Broquelet gbroquelet@ - +33 (0)1 80 81 50 01 Attachment CP_Nacon_RA 2025_25 Diffusion EnglishError 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
Business Wire
22-05-2025
- Business
- Business Wire
Delta Galil Reports Record First Quarter 2025 Results
CAESAREA, Israel--(BUSINESS WIRE)--Delta Galil Industries, Ltd. (DELG/Tel Aviv Stock Exchange), the global designer, manufacturer and marketer of branded and private label intimate, activewear, loungewear and denim apparel for ladies, men, and children, today reported financial results for the first quarter ended March 31, 2025. First quarter sales increased 11% to a first quarter record of $498.7 million, driven by growth in all segments and channels First quarter online sales of the Company's own brands increased 21% Gross profit in the first quarter increased 6% to $202.6 million, compared to $190.5 million last year First quarter EBIT before non-core items increased 11% and reached $32.7 million, compared to $29.4 million, for the first quarter last year Net Debt to EBITDA, excluding IFRS 16, was 0.7x for the quarter ended March 31, 2025, compared to 0.7x last year Strong balance sheet with $91.9 million in cash and record shareholders' equity of $817.7 million at March 31, 2025 Declares a $8.0 million dividend for the first quarter 2025, same as for the first quarter last year Isaac Dabah, CEO of Delta Galil, stated, 'Delta delivered record first quarter sales, reflecting strong momentum across all segments and retail channels. Our top-line performance underscores our efforts to fuel the growth of our brands and partners through exceptional design and a relentless focus on innovation, quality and sustainability. This growth, combined with disciplined cost controls, yielded solid year-over-year gains in EBIT, EBITDA and net income.' Mr. Dabah added, 'While the macroeconomic environment has grown more complex amid evolving U.S. trade policies, our growth initiatives remain on track. We continue to see strong demand from key customers and are well positioned to gain market share due to our strategically located manufacturing facilities in countries with low tariff exposure.' 'With a profitable model, and a strong balance sheet, we're well-positioned to invest in our multi-year growth plan. We believe our powerful platform, committed team, and global focus, will allow us to navigate any near-term economic challenges, while pursuing long-term growth opportunities to deliver lasting value for our shareholders,' concluded Mr. Dabah. Sales The Company reported first quarter 2025 sales of $498.7 million, an 11% increase from $450.8 million in the first quarter of 2024. Gross Margin Gross profit in the first quarter was $202.6 million compared to $190.5 million in the first quarter of 2024. Gross margin in the first quarter of 2025 was 40.6% compared to 42.3% for the same period last year. The year-over-year reduction in the first quarter gross margin was due primarily to higher freight costs, 90 basis points impact of foreign currency exchange-rates and lower export subsidy in our Egyptian operations. EBIT EBIT in the first quarter of 2025 was $32.7 million, compared to $26.0 million, in the first quarter last year. EBIT before non-core items in the first quarter of 2025 was $32.7 million, or 6.6% of sales, compared to $29.4 million, or 6.5% of sales, in the same period last year. The year-over-year increase in first quarter EBIT was primarily due to higher sales and controlled operating expenses. Non-Core Items For the first quarter of 2025, the Company recorded no non-core expenses. For the first quarter of 2024, expenses associated with the Company's previously disclosed realignment plan for Bare Necessities were $3.4 million. Net Income Net income in the first quarter of 2025 increased 46% to $17.6 million, compared to $12.0 million in the same period last year. Net income excluding non-core items, net of tax in the first quarter of 2025, increased 22% to $17.6 million, compared to $14.5 million in the first quarter of 2024. Diluted Earnings Per Share Diluted earnings per share in the first quarter of 2025 increased 56% to $0.62, compared to $0.39 in the first quarter last year. Diluted earnings per share, excluding non-core items, net of tax, increased 26% to $0.62 in the first quarter of 2025 compared to $0.49 in the first quarter of 2024. EBITDA, Cash Flow, Net Debt, Equity, and Dividend EBITDA, excluding IFRS 16, in the first quarter of 2025 increased 7% to $40.5 million, compared to $37.7 million in the first quarter of 2024. Cash flow generated from operating activities, excluding IFRS 16, was $4.0 million, compared to $23.5 million in the first quarter of 2024. The year-over-year reduction in operating cash flow was primarily attributable to changes in working capital to support expected sales growth, additional new brands and longer lead-time. Net Debt to EBITDA, Excluding IFRS 16, as of March 31, 2025, was 0.7x and at a similar level compared to March 31, 2024. Equity on March 31, 2025, was $817.7 million, up 7% from $764.6 million on March 31, 2024. Delta Galil declared a dividend of $8.0 million, or $0.3065 per share, which will be distributed on June 10, 2025, with a record and 'ex-dividend' date of May 28, 2025. 2025 Financial Guidance The Company's previous guidance provided in its 2024 annual report did not include any impacts from new tariff legislation on imports to the U.S. that recently became effective. In light of the uncertainty with respect to country specific reciprocal tariff rates, the Company has withdrawn its prior guidance. The Company is working to offset the effects of tariffs by sharing the impacts with its long-term vendors and strategically optimizing the Company's sourcing and production to countries with lower exposure to tariffs. The Company estimates that based on current tariff rates, the potential impact on 2025 annual operating income will not exceed $20 million. In addition, the Company is taking proactive measures to reduce annual operating expenses by $5-7 million. Constant Currency - Excluding the Impact of Foreign Currency This release refers to 'reported' amounts in accordance with IFRS accounting principles ('GAAP'), which include translation and transactional impacts from foreign currency exchange rates. The release also refers to 'constant dollar' amounts, which exclude the impact of translating foreign currencies into U.S. dollars, and are considered a non-GAAP financial measure. These constant currency performance measures should be viewed in addition to, and not in lieu of, or superior to, Delta Galil's operating performance measures calculated in accordance with GAAP. About Delta Galil Industries Delta Galil Industries is a global designer, manufacturer and marketer of branded and private label apparel products for men, women and children. Since its inception in 1975, the Company has continually endeavored to create products that follow a body-before-fabric philosophy, placing equal emphasis on comfort, aesthetics and quality. Delta Galil develops innovative seamless apparel including bras, shapewear and socks; intimate apparel for women; underwear for men including under its owned brands Schiesser, Eminence, Organic Basics, and Athena; babywear, activewear, sleepwear, and loungewear including under its owned P.J. Salvage and Delta brands. Delta Galil also designs, develops markets and sells branded denim and apparel under the brand 7 For All Mankind ®, and ladies' and kids' apparel under the brand Splendid ®. In addition, it sells its products under brand names licensed to the company, including adidas, Wolford, Wilson, Columbia, Tommy Hilfiger, Polo Ralph Lauren and others. For more information, visit Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, tax rates in the various countries the Company operates in, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. DELTA GALIL INDUSTRIES LTD. Concise Consolidated Balance Sheets As of March 31, 2025 March 31 December 31 2025 2024 2024 (Unaudited) (Audited) Thousands of Dollars Liabilities and Equity Current liabilities: Short-term bank loans 12,014 38,102 2,335 Current maturities of long term bank loans 21,567 24,965 20,939 Current maturities of bonds 29,471 29,662 29,476 Financial derivative 1,222 1,143 1,314 Current maturities of leases liabilities 79,323 51,908 53,663 Trade payables 235,619 203,982 237,371 Income taxes payable 18,661 29,729 23,805 Provision for realignment plan 7,303 3,563 8,142 Others payables 173,623 142,261 194,900 Total current liabilities 578,803 525,315 571,945 Non-current liabilities: Bank loans 118,310 133,471 124,163 Post-employment benefits obligation, net 5,418 5,434 5,810 Lease Liability 230,972 206,311 225,802 Other non-current liabilities 48,103 53,441 49,105 Bonds 63,291 94,996 64,712 Deferred taxes liabilities 34,079 33,521 33,394 Financial derivative 2,957 2,746 1,765 Total non-current liabilities 503,130 529,920 504,751 Total liabilities 1,081,933 1,055,235 1,076,696 Equity: Equity attributable to shareholders in the parent company: Share capital 23,714 23,714 23,714 Share premium 123,800 126,219 124,025 Other capital reserves 23,651 23,168 15,590 Retained earning 632,409 573,560 625,912 Treasury shares (9,464) (12,026) (9,832) 794,110 734,635 779,409 Non-controlling interests 23,567 29,967 24,153 Total equity 817,677 764,602 803,562 Total liabilities and equity 1,899,610 1,819,837 1,880,258 Expand DELTA GALIL INDUSTRIES LTD. Concise Consolidated Cash Flow Reports For the 3-month period ending March 31, 2025 Three months ended March 31 2025 2024 (Unaudited) Thousands of Dollars Cash flows from operating activities: Net income for the period 17,603 12,049 Adjustments required to present cash flows from operating activities 19,748 43,337 Interest paid in cash (8,961) (8,522) Interest received in cash 439 1,234 Income taxes paid in cash, net (10,393) (12,524) Net cash generated from operating activities 18,436 35,574 Cash flows from investment activities: Acquisition of property, plant including under construction (20,635) (12,295) Acquisition of intangible assets (5,320) (17,364) Proceeds from sale of property, plant and equipment 1,724 220 Others (407) 416 Net cash used in Investing activities (24,638) (29,023) Cash flows from financing activities: Dividend paid to non-controlling interests in subsidiary (1,679) (1,800) Payment of long-term payable in connection with acquisition of property, plant and equipment under construction (1,203) (1,406) Principal elements of lease payments (14,386) (12,087) Dividend paid (10,023) (9,021) Receipt of long-term bank loans 967 543 Repayment of long-term bank loans (7,434) (6,154) Short-term credit from banking corporations, net 9,463 37,282 Others (232) 1,734 Net cash generated from (used in) financing activities (24,527) 9,091 Net increase (decrease) in cash and cash equivalents (30,729) 15,642 Effects of exchange rate changes on cash and cash equivalents 408 (2,736) Balance of cash and cash equivalents at the beginning of the period, net 120,509 174,463 Balance of cash and cash equivalents at the end of the Period, net 90,188 187,369 Expand
Business Wire
14-05-2025
- Business
- Business Wire
ADOCIA Reports First Quarter 2025 Financial Results and Provides a Business Update
LYON, France--(BUSINESS WIRE)--Regulatory News: Adocia (Euronext Paris: FR0011184241 – ADOC, the 'Company'), a clinical-stage biopharmaceutical company focused on the research and development of innovative therapeutic solutions for the treatment of diabetes and obesity, reports financial results for the first quarter of 2025 and provides a business update. ' Our strategic priority remains securing partnerships for BioChaperone ® CagriSema and M1Pram. Meanwhile, our teams are fully committed to advancing AdoShell ® Islets toward the clinic and encouraging new preclinical data is being presented at several high-profile scientific conferences, ' says Olivier Soula, CEO of Adocia. 'Thanks to the private placement successfully completed in February 2025, along with the upcoming $10 million milestone payment for BC Lispro, we have secured our cash runway until Q2 2026. This allows us to fully focus on creating value for our shareholders, particularly through the conclusion of strategic partnerships,' adds Mathieu-William Gilbert, CFO-COO. 'In addition, we are now looking ahead to the top-line results from the BC Lispro Phase 3 studies in China, which should pave the way for regulatory authorization – associated with an additional $20 million milestone payment - and subsequently, recurring revenues through royalties.' First quarter 2025 financial results Financial highlights for the quarter include the following: Detail of the revenue The revenue of €0.4 million is mainly related to the feasibility study on the AdOral ® technology, applied to a novel incretin for an undisclosed partner. Net Cash Position The Company's cash position stood at €12.2 million as of March 31, 2025, compared to €7.5 million as of December 31, 2024. This position includes €9.7 million received from the private placement completed in February 2025 (see first quarter 2025 highlights below). The cash burn related to activities in the first quarter of 2025 amounted to €6.6 million, compared to €5.8 million in the first quarter of 2024 (excluding financing). Net financial debt (excluding IFRS 16 impacts), consisting exclusively of state-guaranteed loans (PGE), amounted to €3.9 million as of March 31, 2025, down €0.7 million compared to December 31, 2024, following the repayments made during this quarter. The maturity of these loans remains at the end of August 2026. The cash position as of March 31, 2025, of €12.2 million allows the Company to fund its activities until the second quarter of 2026, taking into account the Tonghua Dongbao $10 million milestone to be received at the end of Q2 2025 and the receipt of the Research Tax Credit of €2.8 million, but without considering other potential revenues generated by existing or future partnerships. First Quarter 2025 Highlights End of the equity line (PACEO) entered into with Vester Finance The PACEO financing agreement signed with Vester Finance on March 21, 2024 1, has now been completed. This agreement has enabled Adocia to raise a total of €11.4 million, via the issuance of 1.65 million shares (corresponding to an average exercise price €6.9 per share). Successful completion of a €9.7 million Private Placement On March 28, 2025, Adocia announced the realization of a €9.7 million Private Placement 2, through the issuance of a total number of 2,125,000 new shares, each with one share warrant attached. Gross Proceeds included €0.5 million from Gerard Soula, chairman of the Board and cofounder of the Company, €0.9 million from Vester Finance, an historical investor, €7 million from Armistice Capital and €1.3 million from a limited number of investors. The Company intends to use 50% of the net proceeds of this Private Placement to step up development work on its AdoShell ® Islets project, including toxicology studies and the preparation of clinical batches for the launch of the clinical trial (FIH) and the balance to finance the Company's general corporate purposes and cash runway to Q2 2026. BioChaperone ® Lispro – partnered with Tonghua Dongbao Partner Tonghua Dongbao initiated two Phase 3 studies with Ultra-Rapid Insulin BioChaperone ® Lispro in 509 Type 1 and 978 Type 2 Diabetes people in 2022. The final dosing of the last Type 2 Diabetes patient was announced on December 12, 2024 3, triggering a $10 million payment to be received by Adocia at the end of Q2 2025. The last patient dosed in the Type 1 Diabetes study took place in January 2025, leading to the top-line results in mid-2025. Assuming successful Phase 3 results, Tonghua Dongbao plans on submitting Ultra-Rapid Insulin BioChaperone ® Lispro for Chinese regulatory review in 2025. The granting of Marketing Authorization would lead to an additional milestone payment of $20 million and double-digit royalties on sales to Adocia. BioChaperone ® GLP-1 – Amylin / BioChaperone ® CagriSema The preclinical development of BioChaperone ® CagriSema, which offers a stable combination of cagrilintide and semaglutide in the same delivery chamber, continues as planned. Data generated to date are promising regarding its commercial and manufacturing benefits over the combination of cagrilintide and semaglutide currently being developed by Novo Nordisk which requires each peptide to be in separate chambers, of a single-use pen device. BioChaperone ® CagriSema is expected to offer significant manufacturing advantages, such as enabling it to be included in existing multi-use pen platforms. M1Pram – Ongoing exclusive discussions with Sanofi M1Pram is a fixed combination of insulin and amylin analogs aimed at addressing the unmet medical need of obesity in insulin-dependent individuals. A Phase 2b clinical program in the United States, involving 140 patients with Type 1 Diabetes and a BMI 4 >30kg/m², is in preparation. Adocia has completed the manufacturing of clinical batches. The launch of the clinical trial is conditional on entering an agreement for its financing. Adocia granted Sanofi an exclusive right to negotiate a partnership on M1Pram for €10 million 5. This exclusive right remains in place with ongoing discussions for a global partnership. AdoShell ® Islets The AdoShell ® platform, an immunoprotective biomaterial for cell therapy, continues its preclinical development. Preparatory work to submit a clinical trial application to the regulator remains on track for 2025. The AdoShell ® Islets program has once again been selected to be featured at several conferences in 2025, including the EPITA Symposium, the H.C. Wainwright 3 rd Annual Cell Therapy Conference, the ATTD 2025 conference, the SFD 2025 congress, the ADA 85 th Scientific Sessions, the IPITA World Congress, EISG 2025, and the ISCT 2025 Annual Meeting. AdOral ® Adocia has developed an oral delivery technology for peptides, enabling the transition from injectable to oral forms, and has achieved promising preclinical results on semaglutide (GLP-1). Data on AdOral ® Sema was presented at the ATTD 2025 conference (18 th International Conference on Advanced Technologies & Treatments for Diabetes, 19-22 March, 2025, Amsterdam, The Netherlands). The only GLP-1 commercially available in oral form to date, Rybelsus ®, achieved $3.4 billion in global sales in 2024 6. Oral delivery is a key factor in increasing patient adherence for those with diabetes and/or obesity. Following an initial assessment phase, the AdOral ® technology is currently covered by an R&D collaboration agreement for an application to a novel incretin. All costs related to this agreement are covered by the partner and €0.6 million were recognized in revenue in the first quarter of 2025. AdoGel ® Designed to enable long-term peptide delivery, AdoGel ® is currently being studied on semaglutide (GLP-1). GLP-1, a market that generated over $53 billion in global revenue in 2024, is almost exclusively formulated for weekly injections 7. AdoGel ® 's unique technology could enable monthly or even quarterly injections. New preclinical results were selected for a poster presentation at the ATTD 2025 conference (18 th International Conference on Advanced Technologies & Treatments for Diabetes, 19-22 March, 2025, Amsterdam, The Netherlands) and for an oral presentation at the SFD 2025 congress (Congress of the Société Francophone du Diabète, April 1-4, 2025, Paris, France). About Adocia Adocia is a biotechnology company specializing in the discovery and development of therapeutic solutions in the field of metabolic diseases, primarily diabetes and obesity. The Company has a broad portfolio of drug candidates based on four proprietary technology platforms: 1) The BioChaperone ® technology for the development of new generation insulins and products combining different hormones; 2) AdOral ®, an oral peptide delivery technology; 3) AdoShell ®, an immunoprotective biomaterial for cell transplantation, with an initial application in pancreatic cells transplantation; and 4) AdoGel ®, a long-acting drug delivery platform. Adocia holds more than 25 patent families. Based in Lyon, the company has about 80 employees. Adocia is listed on the regulated market of Euronext ™ Paris (Euronext: ADOC; ISIN: FR0011184241). Disclaimer This press release contains certain forward-looking statements concerning Adocia and its business. Such forward-looking statements are based on assumptions that Adocia considers as being reasonable. However, there can be no guarantee that the estimates contained in such forward-looking statements will be achieved, as such estimates are subject to numerous risks including those set forth in the 'Risk Factors' section of the universal registration document that was filed with the French Autorité des marchés financiers on April 29, 2025, available at Those risks include uncertainties inherent in Adocia's short- or medium-term working capital requirements, in research and development, future clinical data, analyses and the evolution of economic conditions, the financial markets and the markets in which Adocia operates, which could impact the Company's short-term financing requirements and its ability to raise additional funds. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or not considered as material by Adocia at this time. The occurrence of all or part of such risks could cause the actual results, financial conditions, performances, or achievements of Adocia be materially different from those mentioned in the forward-looking statements. _________________________________ 1 Press Release, March 21,2024, ADOCIA Announces a €2 Million Fundraising from its two Main Shareholders and a Member of its Management, and the Signature of an Equity Financing Line with Vester Finance 2 For more details on the characteristics of this Private Placement, please refer to the Press Releases, February 26, 2025, ADOCIA Announces the Successful Completion of a €9.7 Million Private Placement, Extending its Cash Runway to Q2 2026; and February 28, 2025, ADOCIA Announces the Settlement-Delivery of its €9.7Million Private Placement 3 Press Release, Dec. 12, 2024, ADOCIA and Tonghua Dongbao Announce the Final Dosing in a Phase 3 Clinical Study of BioChaperone® Lispro, Milestone Associated with a $10 Million Payment 4 BMI stands for Body Mass Index, calculated as the mass of a person in Kg, divided by the square of its height in meters 5 Press Release, July 5, 2023, ADOCIA Grants Sanofi an Exclusive Right to Negotiate a Partnership on M1Pram for 10 Million Euros and Obtains Commitment from Investors to Provide 10 Million Euros in Financing
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
Swiss Water Reports First Quarter 2025 Results
VANCOUVER, British Columbia, May 07, 2025 (GLOBE NEWSWIRE) — Swiss Water Decaffeinated Coffee Inc. (TSX:SWP) ('Swiss Water' or 'the Company'), a leading specialty coffee company and premium green coffee decaffeinator, today reported financial results for the three months ended March 31, 2025. All amounts are expressed in Canadian dollars unless otherwise stated. First Quarter 2025 Highlights 'We entered 2025 with solid momentum, delivering volume growth and steady execution despite continued volatility in the coffee market,' said Frank Dennis, CEO of Swiss Water . 'Customer demand remained healthy, and we added new accounts while maintaining strong operational performance across our platform. As expected in an inverted market, some of our hedge positions resulted in timing-related losses as contracts were rolled forward and negatively impacted Adjusted EBITDA. However, revised pricing initiatives are in place, and we expect to fully recover any incremental hedge losses incurred this year. These changes reflect the mechanics of managing risk in a complex pricing environment. We also made a strategic decision to increase inventory levels to support anticipated volume and ensure product availability for our customers. Looking ahead, while we expect some ongoing variability in ordering patterns due to price sensitivity, tariffs and broader macroeconomic pressures, we remain confident in the strength of our business and our ability to serve customers reliably in a complex market.' Summary of Operational Performance Summary of Financial Results Adjusted EBITDA Swiss Water defines Adjusted EBITDA as net income before interest, depreciation, amortization, impairments, share-based compensation, gains/losses on foreign exchange, gains/losses on disposal of property and capital equipment, fair value adjustments on embedded options, loss on extinguishment of debt, adjustment for the impact of IFRS 16 - Leases, and provision for income taxes and other non-cash gains related to a remeasurement of asset retirement obligation. The Company's definition of Adjusted EBITDA also excludes unrealized gains and losses on the undesignated portion of foreign exchange forward contracts. The reconciliation of net income, an IFRS measure, to Adjusted EBITDA is as follows: Subsequent Event On April 2, 2025, the US administration announced the implementation of a 10% tariff on most imports from a broad range of countries, effective April 5, 2025. While imports of coffee beans into Canada remain unaffected, coffee exported from Canada to the United States that retain their original country-of-origin designation are now subject to this new tariff structure. These tariff rules and classifications also apply to Swiss Water's competitors based outside Canada. This development introduces additional cost pressures on Swiss Water's U.S.-bound shipments. From Q2'25 Swiss Water will include any tariff charges it incurs on shipments on the invoice to its US customers. The Company is evaluating the negative impact that higher prices may have on customer purchasing behaviour going forward. Call Details A conference call to discuss Swiss Water's recent financial results will be held on Thursday, May 8, 2025, at 1:00 pm Pacific (4:00 pm Eastern). To access the conference call, please dial: A replay will be available through May 22, 2025, at A more detailed discussion of Swiss Water Decaffeinated Coffee Inc.'s recent financial results is provided in the Company's Management Discussion and Analysis filed on SEDAR+ and Swiss Water's website ( ). For more information, please contact: Iain Carswell, Chief Financial Officer Swiss Water Decaffeinated Coffee Inc. Phone: 1-604-420-4050 Email: investor-relations@ Website: About Swiss Water Swiss Water Decaffeinated Coffee Inc. is a leading specialty coffee company and a premium green coffee decaffeinator that employs the proprietary Swiss Water® Process to decaffeinate green coffee without the use of chemical solvents such as methylene chloride. It also owns Seaforth Supply Chain Solutions Inc., a green coffee handling and storage business. Both businesses are located in Delta, British Columbia, Canada. Forward-Looking Statements Certain statements in this press release may constitute 'forward-looking' statements that involve known and unknown risks, uncertainties and other factors that may cause the 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 such forward-looking statements. When used in this press release, such statements may include such words as 'may', 'will', 'expect', 'believe', 'plan', 'anticipate' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance, as well as management's current estimates, but which are based on numerous assumptions and may prove to be incorrect. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties, including, but not limited to, risks related to processing volumes and sales growth, operating results, the supply of utilities, the supply of coffee and packaging materials, supply of labour force, general industry conditions, commodity price risks, technology, competition, foreign exchange rates, construction timing, costs and financing of capital projects, a potential impact of any pandemics, global and local climate changes, changes in interest rates, inflation, transportation availability, and general economic conditions. The forward-looking statements and financial outlook information contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by applicable securities law, Swiss Water undertakes no obligation to publicly update or revise any such statements to reflect any change in management's expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those described.
Yahoo
24-04-2025
- Business
- Yahoo
Pierre & Vacances-Center Parcs: First Half 2024/2025 Revenue
Solid tourism business over the winter season as a whole, with economic revenue1 down by a limited -0.9% for the first half of 2024/2025 due to anticipated calendar effects (shift in revenue to the 2nd half) Expected growth in annual performance based on the bookings portfolio to date, demonstrating the resilience of the Group's brands in a difficult geopolitical environment. PARIS, April 24, 2025--(BUSINESS WIRE)--Regulatory News: Franck Gervais, CEO of Pierre & Vacances-Center Parcs (Paris:VAC), stated: "The Group performed well over the winter season as a whole, with an increase in the customer satisfaction rate, despite the complicated economic backdrop. Mountain resorts were hugely successful with an occupancy rate of 96% in the second quarter of the year. During these turbulent times, local family holidays remain a safe haven and the Group's positioning fits perfectly with customer expectations for local and meaningful tourism. The portfolio of reservations to date for the second half confirms momentum in our businesses, enabling the Group to confirm its growth trajectory for the rest of the year." 1] Revenue Under IFRS accounting, revenue for the first half of 2024/2025 totalled €765.1 million, compared with €778.6 million in H1 2023/2024. The Group comments on its revenue and the associated financial indicators in compliance with its operational reporting (see "Economic revenue" below), which is more representative of its business, i.e. (i) with the presentation of joint- ventures in proportional consolidation, and (ii) excluding the impact of IFRS16: € millions H1 2024/2025 H1 2023/2024 Change IFRS revenue 765.1 778.6 -1.7% Proportional integration of joint-ventures +28.3 +32.5 -13.0% Integration of lease operations +8.7 +11.2 -21.7% Economic revenue (Operational reporting) 802.1 822.2 -2.4% Revenue is also presented according to the following operating segments2: - Center Parcs covering operation of the Domains marketed under the Center Parcs, Sunparks and Villages Nature brands, and the building/renovation activities for tourism assets. - Pierre & Vacances covering the tourism businesses operated in France and Spain under the Pierre & Vacances brand and the Asset Management business line3. - a distribution and services platform, operating the Campings maeva, maeva Home, La France du Nord au Sud and Vacansoleil. - Adagio, covering operation of the city residences leased by the Group and entrusted to the Adagio SAS joint venture under management mandates, as well as operation of the sites directly leased by the joint venture. - An operating segment covering the Major Projects4 and Senioriales5 business lines. - The Corporate operational segment housing primarily the holding company activities. A reconciliation table presenting economic revenue and revenue under IFRS accounting is presented by operational sector at the end of the press release. Q2 H1 Economic revenue, €m 2024/25 2023/24 Change excl. calendar shift* 2024/25 2023/24 Change excl. calendar shift* Center Parcs 221.9 239.9 -7.5% 483.9 494.9 -2.2% Tourism 213.0 229.7 -7.3% 464.7 479.0 -3.0% Accommodation revenue 160.0 175.9 -9.0% -0.5% 357.3 372.2 -4.0% 0.0% Supplementary income 53.0 53.8 -1.5% 107.4 106.9 +0.5% Others 8.9 10.2 -13.3% 19.2 15.9 +20.4% Pierre & Vacances 106.3 108.7 -2.3% 162.8 158.8 +2.5% Accommodation revenue 90.8 92.7 -2.1% -0.9% 133.6 130.5 +2.4% +3.3% Supplementary income 15.5 16.0 -3.2% 29.2 28.3 +2.9% Adagio 46.1 46.8 -1.6% 103.9 105.8 -1.8% Accommodation revenue 40.9 41.6 -1.7% -0.7% 92.7 94.7 -2.2% -1.7% Supplementary income 5.3 5.3 -0.5% 11.2 11.1 +0.9% 23.0 18.5 +23.9% 28.9 23.9 +21.0% Supplementary income 23.0 18.5 +23.9% 28.9 23.9 +21.0% Major Projects & Senioriales 9.7 13.8 -29.4% 22.1 38.2 -42.2% Corporate 0.5 0.2 +105% 0.6 0.6 +4.2% TOTAL GROUP 407.4 428.0 -4.8% 802.1 822.2 -2.4% Economic revenue Tourism 388.3 403.8 -3.8% 760.3 767.5 -0.9% Accommodation revenue 291.7 310.2 -6.0% -0.6% 583.6 597.4 -2.3% +0.5% Supplementary income 96.7 93.6 +3.3% 176.6 170.2 +3.8% Other economic revenue 19.1 24.2 -21.4% 41.9 54.7 -23.5% * Estimated impact on accommodation revenue of spring school holidays and Easter weekend falling in April 2025 vs. March in 2024. Economic revenue - Tourism First half 2024/2025 revenue was negatively impacted by the calendar for bank holidays and school holidays, with certain periods shifted into Q3, as well as by a decline in the accommodation offer, due especially to the complete closure of the Center Parcs Hauts de Bruyères Domain in October and November 2024 (renovation work on central facilities). After neutralising the shift in revenue to the month of April, the Group's accommodation revenue is estimated to have grown by 0.5% over the half-year period. Supplementary income6 also increased (+3.8%), benefiting especially from robust business at The customer satisfaction rate continued to rise across all brands. Accommodation revenue Accommodation revenue amounted to €583.6 million in the first half of 2024/2025, down 2.3% before adjusting for the shift in revenue to April, and up 0.5% compared with the first half of the previous financial year after neutralising the calendar shift. Note that the key indicators presented in the table below have not been adjusted for the impact of this shift in revenue to the following quarter and are therefore not comparable with the prior year performance. Change in key operational performance indicators RevPar Average daily rates (by night, for accommodation) Number of nights sold Occupancy rate € (excl. tax) Chg. % N-1 € (excl. tax) Chg. % N-1 Units Chg. % N-1 % Chg. Pts N-1 Center Parcs 114.1 -3.1% 169.4 +2.3% 2,109 802 -6.2% 67.4% -3.8 pts Pierre & Vacances 80.6 +0.5% 137.9 +2.2% 969,056 +0.2% 65.8% -1.6 pt Adagio 72.4 -0.2% 101.4 -1.8% 914,061 -0.3% 72.0% +1.2 pt Total H1 2024/2025 revenue 96.1 -1.9% 146.2 +1.1% 3,992 919 -3.4% 67.9% -2.2 pts Change in accommodation revenue by brand - Center Parcs: -4.0% (stable after neutralising the shift in revenue) The decline in accommodation revenue was mainly due to a volume effect (complete closure of the Domaine des Hauts de Bruyères for two months, in line with the renovation programme, as well as the disadvantageous calendar effect). Average daily rates rose by 2.3% (+2.6% for the Domains located in BNG7 and +2.0% for the French Domains), testifying to the brand's premiumisation. - Pierre & Vacances: +2.4% (+3.3% after neutralising the shift in revenue) Growth in accommodation revenue for the Pierre & Vacances brand in the first half of the financial year was driven by business in Spain, with double-digit growth (+21.8%) prompted by an increase in the number of units in operation (+14.2% in the number of nights offered) and a rise in average daily rates (+3.3%). Revenue in France was stable, in a context of a decline in the stock operated by lease (-2.8% in the number of nights offered vs. H1 of the previous year, due in particular to renovation works at a residence in Avoriaz). On a constant stock basis, revenue was up (RevPar +2.9%). Average daily rates increased by 6.4%.The mountain destination was particularly successful (average occupancy rate of almost 96% in Q2), with business up +2.1% over the half-year (RevPar up +7.4%), while revenue at seaside destinations fell by 4.8%, partly impacted by social movements in the French West Indies. - Adagio: -2.2% (-1.7% after neutralising the shift in revenue) The decline in revenue was primarily due to aparthotels in France (-3.9%), following a reduction in the offer (withdrawal from two sites) and disadvantageous comparison with the first half of the previous year, which benefited from the Rugby World Cup in October 2023. Revenue rose by 5.2% in other countries where the brand operates. Supplementary income8 H1 2024/2025 supplementary income amounted to €176.6 million, up 3.8% on the first half of the previous financial year, driven by (up 21.0% over the period), which confirmed its growth and demonstrated the strength of its hybrid model: a Europe-wide holiday distribution platform and a network of high-performance local seasonal rental agencies, particularly in the mountain regions. Other economic revenue H1 2024/2025 revenue from other business lines amounted to €41.9 million, down from €54.7 million in the first half of 2023/2024, confirming the Group's ongoing withdrawal from its property and non-strategic activities. Revenue from other businesses is primarily made up of: - Renovation operations at Center Parcs Domains on behalf of owner-lessors, for €18.7 million (mainly for the renovation of the Hauts de Bruyères Domain in France and the extension of the Park Eifel Domain in Germany) compared with €15.9 million in H1 2023/2024. - Les Senioriales for €10.2 million (vs. €20.8 million in H1 2023/2024). - the Major Projects business line: €11.9 million (of which €10.6 million related to the extension of the Villages Nature Paris domain) (vs. €17.4 million in H1 2023/ 2024, of which €15.7 million related to Villages Nature Paris). 2] Outlook - Tourism businesses In view of tourism bookings to date for the second half of the year (representing almost 60% of the full-year target and an achievement rate comparable to the previous year), the Group is currently forecasting growth in accommodation revenue for the 2024/2025 financial year, with a rise in revenue in both the third and fourth quarters. 3] Financial calendar First half earnings for 2024/2025 will be published on 28 May 2025 before the market opening. 4] Reconciliation table between economic revenue and revenue under IFRS Under IFRS accounting, revenue for the first half of 2024/2025 totalled €765.1 million, compared with €778.6 million in H1 2023/2024, a 1.7% decline primarily due to a disadvantageous calendar effect. € millions 2024/2025 Economic revenue according to operational reporting Restatement IFRS11 Impact IFRS16 2024/2025 IFRS revenue Center Parcs 483.9 - -5.0 478.9 Pierre & Vacances 162.8 - - 162.8 Adagio 103.9 -26.0 - 77.9 28.9 - - 28.9 Major Projects & Senioriales 22.1 -2.3 -3.7 16.0 Corporate 0.6 - - 0.6 Total H1 2024/2025 revenue 802.1 -28.3 -8.7 765.1 € millions 2023/2024 Economic revenue according to operational reporting Restatement IFRS11 Impact IFRS16 2023/2024 IFRS Center Parcs 494.9 - -5.6 489.3 Pierre & Vacances 158.8 - - 158.8 Adagio 105.8 -25.5 - 80.3 23.9 - - 23.9 Major Projects & Senioriales 38.2 -7.0 -5.5 25.6 Corporate 0.6 - - 0.6 Total H1 2023/2024 revenue 822.2 -32.5 -11.2 778.6 IFRS11 adjustments: for its operational reporting, the Group continues to integrate joint operations under the proportional integration method, considering that this presentation is a better reflection of its performance. In contrast, joint ventures are consolidated under equity associates in the consolidated IFRS accounts. Impact of IFRS16: The application of IFRS16 leads to the cancellation in the financial statements of a share of revenue and capital gains generated on disposals made under the framework of property operations with third-parties (given the Group's right-of-use lease contracts). ____________________ 1 Half-year revenue not audited to date by the statutory auditors 2 Operational sectors defined in compliance with the IFRS8 standard. See page 184 of the Universal Registration Document, filed with the AMF on 23 December 2024 and available on the Group's website: 3 Notably in charge of relations with individual and institutional lessors 4 Business line responsible for the construction and completion of new assets for the Group in France 5 Subsidiary specialised in property development and operating of non-medicalised residences for independent elderly people (managed solely by mandate since the disposal on 1 January 2024 of the lease businesses to ACAPACE) 6 Revenue from on-site activities (catering, animation, stores, services etc.), co-ownership and multi-owner fees and management mandates, marketing margins and revenue generated by the business line. 7 Belgium, the Netherlands, Germany 8 Revenue from on-site activities (catering, animation, stores, services etc.), co-ownership and multi-owner fees and management mandates, marketing margins and revenue generated by the business line. View source version on Contacts For further information: M&A, Investor Relations and Strategic Operations Emeline Lauté+33 (0) 1 58 21 54 Press Relations Valérie Lauthier+33 (0) 1 58 21 54 Sign in to access your portfolio
