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Yahoo
14-05-2025
- Business
- Yahoo
COFACE SA: Combined Shareholders' General Meeting of 14 May 2025 approved all the proposed resolutions
COFACE SA: Combined Shareholders' General Meeting of 14 May 2025 approved all the proposed resolutions Paris, 14 May 2025 – 17.45 The Combined Shareholders' General Meeting of COFACE SA was held on 14 May 2025 at the Company's headquarters in Bois-Colombes, and it was chaired by Mr Bernardo Sanchez Incera, Chairman of the Board of Directors. All the proposed resolutions were adopted by COFACE SA's shareholders, including the payment of a dividend of €1.40 per share for the 2024 financial year with the coupon date set at 20 May 2025, and the payment date at 22 May 2025. All documents related to this General Meeting are available on COFACE SA institutional website ( and more precisely under "Investors/General Assembly". The resolution voting results are online at: CONTACTS ANALYSTS / INVESTORSThomas JACQUET: +33 1 49 02 12 58 – Rina ANDRIAMIADANTSOA: +33 1 49 02 15 85 – MEDIA RELATIONSSaphia GAOUAOUI: +33 1 49 02 14 91 – BILLET: +33 1 49 02 23 63 – FINANCIAL CALENDAR 2025(subject to change)H1-2025 results: 31 July 2025 (after market close) 9M-2025 results: 3 November 2025 (after market close) FINANCIAL INFORMATIONThis press release, as well as COFACE SA's integral regulatory information, can be found on the Group's website: For regulated information on Alternative Performance Measures (APM), please refer to our Interim Financial Report for H1-2024 and our 2024 Universal Registration Document (see part 3.7 'Key financial performance indicators'). Regulated documents posted by COFACE SA have been secured and authenticated with the blockchain technology by can check the authenticity on the website COFACE: FOR TRADEAs a global leading player in trade credit risk management for more than 75 years, Coface helps companies grow and navigate in an uncertain and volatile environment. Whatever their size, location or sector, Coface provides 100,000 clients across some 200 markets with a full range of solutions: Trade Credit Insurance, Business Information, Debt Collection, Single Risk insurance, Surety Bonds, day, Coface leverages its unique expertise and cutting-edge technology to make trade happen, in both domestic and export markets. In 2024, Coface employed ~5,236 people and registered a turnover of €1.84 billion. COFACE SA is quoted in Compartment A of Euronext ParisCode ISIN: FR0010667147 / Ticker: COFA DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 'Main risk factors and their management within the Group' of the Coface Group's 2024 Universal Registration Document filed with AMF on 5 April 2024 under the number D.25-0227 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance. Attachment 2025 05 14 COFACE SA - Combined General Meeting on 14 May 2025 - Voting resultsError 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
Yahoo
14-05-2025
- Business
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FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance
COMPANY ANNOUNCEMENT NO. 8-2025 FLSmidth & Co. A/S 14 May 2025 Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report. Highlights in Q1 2025: 14% increase in Mining Service revenue driven by effective backlog management and order execution Mining Adjusted EBITA margin of 15.1% reflecting continued profitability improvements Negative growth in Cement order intake and revenue continue to reflect de-risking and impact from divestments Cement Adjusted EBITA margin of 9.5% reflecting good strategic execution, with reduced SG&A costs and effective de-risking FLSmidth has entered exclusive negotiations for the potential divestment of the Cement business The financial guidance for the full year 2025 was raised on 14 May 2025 (ref. Company Announcement no. 7-2025) Continued progression on all our science-based sustainability targets FLSmidth Group CEO, Mikko Keto, comments: 'The year has started better than anticipated, with strong financial results and a solid commercial performance driving an upgraded financial guidance. This robust performance was achieved in a quarter with increased uncertainty and turbulence from US tariff measures. Amid this market backdrop, it was encouraging to see growth in orders within our consumables and pumps, cyclones and valves businesses. Further, effective backlog management and order execution resulted in a 14% growth in Mining Service revenue. Combined with the continued implementation of our corporate model, this was the primary driver behind the realisation of an Adjusted EBITA margin of 15.1% for the quarter. In Cement, we continue to see improvements in financial performance with an Adjusted EBITA margin of 9.5% in the first quarter of the year. We have made further progress towards the potential sale of the Cement business and have entered exclusive negotiations with Pacific Avenue Capital Partners. All in all, we are very pleased with the results delivered in the first quarter, and we are well positioned to deliver our updated targets for the full from US tariff measures The US accounted for approximately 20% of our sales in 2024, with approximately half of our sales to the US being imports. Our flexible supply chains and proactive tariff mitigation measures – reducing China-US supply flows, potentially passing on tariff costs to customers and optimising our supply chain efficiency – will help mitigate the associated risks, and we currently see limited direct impacts on our operations. However, we recognise that continued tariff-related uncertainty may further delay larger investment decisions and impact the overall market sentiment if in Q1 2025 Commercial performance Mining order intake decreased by 10% compared to Q1 2024 (currencies had no impact on Mining order intake in Q1 2025). Service order intake decreased by 2% driven by the exit from basic labour contracts, partly offset by higher order intake within consumables. Products order intake decreased by 25% compared to Q1 2024. No large Products orders were announced in Q1 2025, whereas two large Products orders with a combined value of DKK 680m were announced in Q1 2024. Service and Products comprised 72% and 28% of the total Mining order intake in the quarter, respectively (67% and 33% in Q1 2024, respectively). Cement order intake decreased by 18% compared to Q1 2024 (decrease of 12% if excluding currency effects and effects from divestments). Service order intake decreased by 14% primarily reflecting the divestment of the MAAG business in Q1 2024. Products order intake decreased by 27% driven in part by the divestment of the MAAG business as well as continued portfolio pruning. Service and Products comprised 73% and 27% of the total Cement order intake in the quarter, respectively (69% and 31% in Q1 2024, respectively). Group order intake decreased by 12% compared to Q1 2024 (decrease of 11% if excluding currency effects and effects from divestments). Service order intake decreased by 4% driven by relatively lower order intake in both the Mining and Cement businesses. Products order intake decreased by 27% driven by lower Products orders in both the Mining and Cement businesses. Service and Products comprised 72% and 28% of the total order intake in Q1 2025, respectively (67% and 33% in Q1 2024, respectively).Financial performance Mining revenue increased by 4% compared to Q1 2024 (currencies had no impact on Mining order intake in Q1 2025). Service revenue increased by 14% as a result of higher revenue from consumables, spare parts and upgrades & retrofits, driven by effective backlog management and enhanced order execution. Products revenue decreased by 18% primarily reflecting the de-risking of our products portfolio and the timing of the execution of certain large-scale Products orders. Gross profit increased by 13% to DKK 1,304m (DKK 1,153m in Q1 2024) corresponding to a gross margin of 35.2% (32.2% in Q1 2024). Excluding transformation and separation costs of DKK 51m, the Adjusted EBITA margin was 15.1% in Q1 2025. Including these items, the EBITA margin was 13.7% compared to 10.3% in Q1 2024. Cement revenue decreased by 15% compared to Q1 2024 (decrease of 11% if excluding currency effects and effects from divestments). Service revenue decreased by 1% due to the divestment of the MAAG business in Q1 2024. Products revenue decreased by 37% driven by continued portfolio pruning and the divestment of the MAAG business. Gross profit increased by 20% to DKK 325m (DKK 271m in Q1 2024) corresponding to a gross margin of 31.8% (22.4% in Q1 2024). Excluding transformation and separation costs of DKK 9m, the Adjusted EBITA margin was 9.5% in Q1 2025. Including these items, the EBITA margin was 8.6% compared to 4.7% in Q1 2024. Group revenue decreased by 2% compared to Q1 2024 (decrease of 1% if excluding currency effects and effects from divestments). Service revenue increased by 11% driven by higher Service revenue in the Mining business. Products revenue decreased by 26% driven by lower Products revenue in both the Mining and the Cement businesses. Gross profit increased by 18% to DKK 1,629m (DKK 1,384m in Q1 2024) corresponding to a gross margin of 34.4% (28.6% in Q1 2024). Excluding transformation and separation costs of DKK 60m, the Adjusted EBITA margin was 13.9% in Q1 2025. Including these items, the EBITA margin was 12.6% compared to 7.5% in Q1 business Updates on new Mining business line Presidents With reference to the press release issued on 18 February 2025, Julian Soles formally joined FLSmidth on 1 May 2025 as President, Mining Products Business Line. Further, Toni Laaksonen, who has been appointed as new President, Mining Service Business Line, is expected to join FLSmidth soon. Update on potential divestment of the Cement business In the first quarter of 2025, FLSmidth has made further progress towards the potential divestment of the Cement business. To this end, we have entered into exclusive negotiations with Pacific Avenue Capital Partners, a global investment fund specialised in industrial carve-outs. There is no certainty that any transaction will transpire. Any further announcements will be made as and when guidance for the full year 2025 The financial guidance for the full year 2025, that was upgraded on 14 May 2025 (ref. Company Announcement no. 7-2025), is maintained. The financial guidance reflects the ongoing business simplification and transformation efforts, continued improvement in the core Mining business and the effects from the strategic initiatives implemented in the Cement business. Mining Cement Consolidated Group Revenue (DKKbn)~15.0(DKK 3.7bn) Revenue (DKKbn)~4.0(DKK 1.0bn) Revenue (DKKbn)~19.0(DKK 4.7bn) Adj. EBITA margin14.0-14.5%(15.1%) Adj. EBITA margin9.0-9.5%(9.5%) Adj. EBITA margin13.0-13.5%(13.9%) EBITA margin11.5-12.0%(12.6%) Note: Numbers in brackets represent actual year-to-date financial results as of Q1 2025. Mining Compared to 2024, we expect market demand in the Mining Service business to remain stable and active, whereas market demand in the Mining Products business is expected to remain soft. The guidance for the Adjusted EBITA margin excludes transformation and separation costs of around DKK 200m for the full year 2025. Further, the Adjusted EBITA margin is expected to be positively impacted by additional business simplification initiatives, organisational restructuring and enhanced commercial execution. Cement We expect the short-term outlook for the cement industry to remain impacted by macroeconomic uncertainty. The guidance for revenue reflects the divestment of the MAAG business completed in 2024. The guidance for the Adjusted EBITA margin excludes transformation and separation costs of around DKK 50m for the full year 2025. Group The Consolidated Group guidance reflects the sum of the guidance for the two business segments. The guidance for 2025 is subject to uncertainty from macroeconomic and geopolitical call details A presentation of the Q1 2025 Interim Financial Report is scheduled for Wednesday 14 May 2025 at 11:00 a.m. CEST. During the presentation, Group CEO, Mikko Keto, and Group CFO, Roland M. Andersen, will comment on the report and developments in the Group. The presentation will be followed by a Q&A session. Live audio-webcast The presentation can be followed live or as a replay via the internet here. If you wish to ask questions during the Q&A session, please sign up here. After registration, you will receive phone numbers, pin codes and a calendar invite. Please note that you will receive two codes (a pass code and a PIN code), both of which are needed when dialling into the webcast. Presentation slides The presentation slides will be made available shortly before the scheduled start of the webcast at key figures for Q1 2025 DKK million, unless otherwise stated Q1 2025 Q1 2024 Change (%) 2024 Order intake 4,629 5,248 -12% 19,133 - Hereof service order intake 3,351 3,505 -4% 13,933 - Hereof products order intake 1,278 1,743 -27% 5,200 Order backlog 14,762 17,482 -16% 15,214 Revenue 4,729 4,839 -2% 20,187 - Hereof service revenue 3,464 3,130 11% 12,997 - Hereof products revenue 1,265 1,709 -26% 7,190 Gross profit 1,629 1,384 18% 6,465 Gross margin 34.4% 28.6% 5.8%p 32.0% Adjusted EBITA 656 443 48% 2,230 Adjusted EBITA margin 13.9% 9.2% 4.7%p 11.0% EBITA 596 365 63% 1,969 EBITA margin 12.6% 7.5% 5.1%p 9.8% Profit for the period 351 194 81% 1,030 CFFO -12 -352 n.m. 640 Free cash flow -122 -306 n.m. 132 Net working capital 2,415 1,935 25% 2,107 Net interest-bearing debt (NIBD) 1,043 830 26% 847 NIBD/EBITDA ratio 0.4x 0.5x n.m. 0.4xContacts: Investor Relations Andreas Holkjær, +45 24 85 03 84, andh@ Denholt, +45 21 69 66 57, jli@ Media Jannick Denholt, +45 21 69 66 57, jli@ FLSmidth FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. We enable our customers to improve performance, lower operating costs and reduce environmental impact. MissionZero is our sustainability ambition towards zero emissions in mining and cement by 2030. We work within fully validated Science-Based Targets, have a clear commitment to improving the sustainability performance of the global mining and cement industries and aim to become carbon neutral in our own operations by 2030. Attachments FLSmidth Company Announcement no. 8-2025 FLSmidth_Q1-2025 213800MXXDGQ3ITPXI41-2025-03-31-en
Yahoo
14-05-2025
- Business
- Yahoo
FLSmidth & Co. A/S: Better-than-expected Q1 2025, with a strong financial performance in Mining driving an upgraded full-year guidance
COMPANY ANNOUNCEMENT NO. 8-2025 FLSmidth & Co. A/S 14 May 2025 Copenhagen, DenmarkToday, the Board of Directors of FLSmidth have approved the Q1 2025 Interim Financial Report. Highlights in Q1 2025: 14% increase in Mining Service revenue driven by effective backlog management and order execution Mining Adjusted EBITA margin of 15.1% reflecting continued profitability improvements Negative growth in Cement order intake and revenue continue to reflect de-risking and impact from divestments Cement Adjusted EBITA margin of 9.5% reflecting good strategic execution, with reduced SG&A costs and effective de-risking FLSmidth has entered exclusive negotiations for the potential divestment of the Cement business The financial guidance for the full year 2025 was raised on 14 May 2025 (ref. Company Announcement no. 7-2025) Continued progression on all our science-based sustainability targets FLSmidth Group CEO, Mikko Keto, comments: 'The year has started better than anticipated, with strong financial results and a solid commercial performance driving an upgraded financial guidance. This robust performance was achieved in a quarter with increased uncertainty and turbulence from US tariff measures. Amid this market backdrop, it was encouraging to see growth in orders within our consumables and pumps, cyclones and valves businesses. Further, effective backlog management and order execution resulted in a 14% growth in Mining Service revenue. Combined with the continued implementation of our corporate model, this was the primary driver behind the realisation of an Adjusted EBITA margin of 15.1% for the quarter. In Cement, we continue to see improvements in financial performance with an Adjusted EBITA margin of 9.5% in the first quarter of the year. We have made further progress towards the potential sale of the Cement business and have entered exclusive negotiations with Pacific Avenue Capital Partners. All in all, we are very pleased with the results delivered in the first quarter, and we are well positioned to deliver our updated targets for the full from US tariff measures The US accounted for approximately 20% of our sales in 2024, with approximately half of our sales to the US being imports. Our flexible supply chains and proactive tariff mitigation measures – reducing China-US supply flows, potentially passing on tariff costs to customers and optimising our supply chain efficiency – will help mitigate the associated risks, and we currently see limited direct impacts on our operations. However, we recognise that continued tariff-related uncertainty may further delay larger investment decisions and impact the overall market sentiment if in Q1 2025 Commercial performance Mining order intake decreased by 10% compared to Q1 2024 (currencies had no impact on Mining order intake in Q1 2025). Service order intake decreased by 2% driven by the exit from basic labour contracts, partly offset by higher order intake within consumables. Products order intake decreased by 25% compared to Q1 2024. No large Products orders were announced in Q1 2025, whereas two large Products orders with a combined value of DKK 680m were announced in Q1 2024. Service and Products comprised 72% and 28% of the total Mining order intake in the quarter, respectively (67% and 33% in Q1 2024, respectively). Cement order intake decreased by 18% compared to Q1 2024 (decrease of 12% if excluding currency effects and effects from divestments). Service order intake decreased by 14% primarily reflecting the divestment of the MAAG business in Q1 2024. Products order intake decreased by 27% driven in part by the divestment of the MAAG business as well as continued portfolio pruning. Service and Products comprised 73% and 27% of the total Cement order intake in the quarter, respectively (69% and 31% in Q1 2024, respectively). Group order intake decreased by 12% compared to Q1 2024 (decrease of 11% if excluding currency effects and effects from divestments). Service order intake decreased by 4% driven by relatively lower order intake in both the Mining and Cement businesses. Products order intake decreased by 27% driven by lower Products orders in both the Mining and Cement businesses. Service and Products comprised 72% and 28% of the total order intake in Q1 2025, respectively (67% and 33% in Q1 2024, respectively).Financial performance Mining revenue increased by 4% compared to Q1 2024 (currencies had no impact on Mining order intake in Q1 2025). Service revenue increased by 14% as a result of higher revenue from consumables, spare parts and upgrades & retrofits, driven by effective backlog management and enhanced order execution. Products revenue decreased by 18% primarily reflecting the de-risking of our products portfolio and the timing of the execution of certain large-scale Products orders. Gross profit increased by 13% to DKK 1,304m (DKK 1,153m in Q1 2024) corresponding to a gross margin of 35.2% (32.2% in Q1 2024). Excluding transformation and separation costs of DKK 51m, the Adjusted EBITA margin was 15.1% in Q1 2025. Including these items, the EBITA margin was 13.7% compared to 10.3% in Q1 2024. Cement revenue decreased by 15% compared to Q1 2024 (decrease of 11% if excluding currency effects and effects from divestments). Service revenue decreased by 1% due to the divestment of the MAAG business in Q1 2024. Products revenue decreased by 37% driven by continued portfolio pruning and the divestment of the MAAG business. Gross profit increased by 20% to DKK 325m (DKK 271m in Q1 2024) corresponding to a gross margin of 31.8% (22.4% in Q1 2024). Excluding transformation and separation costs of DKK 9m, the Adjusted EBITA margin was 9.5% in Q1 2025. Including these items, the EBITA margin was 8.6% compared to 4.7% in Q1 2024. Group revenue decreased by 2% compared to Q1 2024 (decrease of 1% if excluding currency effects and effects from divestments). Service revenue increased by 11% driven by higher Service revenue in the Mining business. Products revenue decreased by 26% driven by lower Products revenue in both the Mining and the Cement businesses. Gross profit increased by 18% to DKK 1,629m (DKK 1,384m in Q1 2024) corresponding to a gross margin of 34.4% (28.6% in Q1 2024). Excluding transformation and separation costs of DKK 60m, the Adjusted EBITA margin was 13.9% in Q1 2025. Including these items, the EBITA margin was 12.6% compared to 7.5% in Q1 business Updates on new Mining business line Presidents With reference to the press release issued on 18 February 2025, Julian Soles formally joined FLSmidth on 1 May 2025 as President, Mining Products Business Line. Further, Toni Laaksonen, who has been appointed as new President, Mining Service Business Line, is expected to join FLSmidth soon. Update on potential divestment of the Cement business In the first quarter of 2025, FLSmidth has made further progress towards the potential divestment of the Cement business. To this end, we have entered into exclusive negotiations with Pacific Avenue Capital Partners, a global investment fund specialised in industrial carve-outs. There is no certainty that any transaction will transpire. Any further announcements will be made as and when guidance for the full year 2025 The financial guidance for the full year 2025, that was upgraded on 14 May 2025 (ref. Company Announcement no. 7-2025), is maintained. The financial guidance reflects the ongoing business simplification and transformation efforts, continued improvement in the core Mining business and the effects from the strategic initiatives implemented in the Cement business. Mining Cement Consolidated Group Revenue (DKKbn)~15.0(DKK 3.7bn) Revenue (DKKbn)~4.0(DKK 1.0bn) Revenue (DKKbn)~19.0(DKK 4.7bn) Adj. EBITA margin14.0-14.5%(15.1%) Adj. EBITA margin9.0-9.5%(9.5%) Adj. EBITA margin13.0-13.5%(13.9%) EBITA margin11.5-12.0%(12.6%) Note: Numbers in brackets represent actual year-to-date financial results as of Q1 2025. Mining Compared to 2024, we expect market demand in the Mining Service business to remain stable and active, whereas market demand in the Mining Products business is expected to remain soft. The guidance for the Adjusted EBITA margin excludes transformation and separation costs of around DKK 200m for the full year 2025. Further, the Adjusted EBITA margin is expected to be positively impacted by additional business simplification initiatives, organisational restructuring and enhanced commercial execution. Cement We expect the short-term outlook for the cement industry to remain impacted by macroeconomic uncertainty. The guidance for revenue reflects the divestment of the MAAG business completed in 2024. The guidance for the Adjusted EBITA margin excludes transformation and separation costs of around DKK 50m for the full year 2025. Group The Consolidated Group guidance reflects the sum of the guidance for the two business segments. The guidance for 2025 is subject to uncertainty from macroeconomic and geopolitical call details A presentation of the Q1 2025 Interim Financial Report is scheduled for Wednesday 14 May 2025 at 11:00 a.m. CEST. During the presentation, Group CEO, Mikko Keto, and Group CFO, Roland M. Andersen, will comment on the report and developments in the Group. The presentation will be followed by a Q&A session. Live audio-webcast The presentation can be followed live or as a replay via the internet here. If you wish to ask questions during the Q&A session, please sign up here. After registration, you will receive phone numbers, pin codes and a calendar invite. Please note that you will receive two codes (a pass code and a PIN code), both of which are needed when dialling into the webcast. Presentation slides The presentation slides will be made available shortly before the scheduled start of the webcast at key figures for Q1 2025 DKK million, unless otherwise stated Q1 2025 Q1 2024 Change (%) 2024 Order intake 4,629 5,248 -12% 19,133 - Hereof service order intake 3,351 3,505 -4% 13,933 - Hereof products order intake 1,278 1,743 -27% 5,200 Order backlog 14,762 17,482 -16% 15,214 Revenue 4,729 4,839 -2% 20,187 - Hereof service revenue 3,464 3,130 11% 12,997 - Hereof products revenue 1,265 1,709 -26% 7,190 Gross profit 1,629 1,384 18% 6,465 Gross margin 34.4% 28.6% 5.8%p 32.0% Adjusted EBITA 656 443 48% 2,230 Adjusted EBITA margin 13.9% 9.2% 4.7%p 11.0% EBITA 596 365 63% 1,969 EBITA margin 12.6% 7.5% 5.1%p 9.8% Profit for the period 351 194 81% 1,030 CFFO -12 -352 n.m. 640 Free cash flow -122 -306 n.m. 132 Net working capital 2,415 1,935 25% 2,107 Net interest-bearing debt (NIBD) 1,043 830 26% 847 NIBD/EBITDA ratio 0.4x 0.5x n.m. 0.4xContacts: Investor Relations Andreas Holkjær, +45 24 85 03 84, andh@ Denholt, +45 21 69 66 57, jli@ Media Jannick Denholt, +45 21 69 66 57, jli@ FLSmidth FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. We enable our customers to improve performance, lower operating costs and reduce environmental impact. MissionZero is our sustainability ambition towards zero emissions in mining and cement by 2030. We work within fully validated Science-Based Targets, have a clear commitment to improving the sustainability performance of the global mining and cement industries and aim to become carbon neutral in our own operations by 2030. Attachments FLSmidth Company Announcement no. 8-2025 FLSmidth_Q1-2025 213800MXXDGQ3ITPXI41-2025-03-31-enError 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
Yahoo
06-05-2025
- Business
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NTG Nordic Transport Group A/S
NTG Nordic Transport Group A/S NTG Nordic Transport Group A/S – Q1 2025 Conference Call We expect to release the Q1 2025 results of NTG Nordic Transport Group in the evening of May 12, 2025. A webcast and conference call will be held in the morning of May 13, 2025, at 10:00 am CET. At the call, Group CEO Mathias Jensen-Vinstrup and Group CFO Christian D. Jakobsen will present the Q1 2025 Interim Financial Report. The presentation will be followed by a Q&A session. Date: May 13, 2025 Time: 10:00 am CET To attend the conference call, please go to: Conference Call – NTG Interim Financial Report Q1 2025 or Investors | NTG Nordic Transport Group. If you wish to ask questions during the conference call, please register through this link: Conference Call Q&A – NTG Interim Financial Report Q1 2025. We recommend participants to dial in 10 minutes prior to the scheduled start time. Contacts Investor Relations Sebastian Rosborg, tel. +45 42 12 80 99, Best regards, NTG Nordic Transport Group A/S
Yahoo
23-02-2025
- Business
- Yahoo
Perseus Mining Half Year Results
Perth, Feb. 24, 2025 (GLOBE NEWSWIRE) -- PERSEUS MINING'S HALF YEAR PROFIT UP 22% TO US$201M, NET CASH & BULLION UP US$117M TO US$704M Perth, Western Australia/ February 24, 2025/Mid-tier, gold producer, developer and explorer, Perseus Mining Limited (ASX/TSX:PRU) is pleased to report material improvements across all key financial metrics including revenue, EBITDA, profit after tax, operating cash flow and net cash position in its Interim Financial Report for the six months ending December 31, 2024 (H1 FY25). HIGHLIGHTS Revenue increased to US$581.8 million, up 19% on prior corresponding period EBITDA(1) up 26% to US$352.7 million on prior corresponding period Profit after Tax increased to US$201 million up 22% on prior corresponding period Operating cash flow increased to US$248 million, up 17% on prior corresponding period Total assets of US$2.1 billion; Net tangible assets of US$1.3 billion or US$0.97 per share Net cash and bullion of US$704 million up by US$117 million from June 30, 2024 balance Zero debt with US$300 million undrawn debt capacity and US$67 million of marketable shares Interim dividend of Australian dollar (AUD) 2.5 cents per share declared, a 100% increase on H1 FY24 interim return Perseus confirms market guidance for FY25 of 469,000 to 504,000oz gold production at US$1,250 to US$1,280/oz AISCMETRIC US$(Million) US CENTS PER SHARE(3) Revenue 581.8 42.3 EBITDA(1) 352.7 25.6 Profit after tax 201.1 14.6 Operating cash flow (2) 247.6 18.0 Net tangible assets 1,338 97.3 Cash and bullion 704 51.1 (1) Gross profit from operations before depreciation and amortisation(2) Net cash inflows from operating activities (3) Calculated using the weighted average outstanding ordinary shares at 31 December 2024 of 1,375,822,145 COMMENTARY During the six months to December 31, 2024, Perseus continued to deliver on its promises, maintaining its production levels and achieving its market guidance for both production and costs. Despite seeing a slight increase in overall costs due to inflationary pressures, Perseus has benefited from its strong hedging strategy and improving gold price environment resulting in the Group's average sales price increasing at a proportionately greater rate than its production costs. Gold production for the Group during the half year totalled 253,709 ounces at an All-In Site Cost (including production costs, royalties and sustaining capital) (AISC) of US$1,162 per ounce. This result included: 123,158 ounces produced at Yaouré at an AISC of US$1,124 per ounce; 33,917 ounces produced at Sissingué at an AISC of US$1,701 per ounce; and 96,634 ounces of gold produced at Edikan at an AISC of US$1,022per ounce. Gold sales by the Group during the half-year totalled 245,518 ounces at an average sales price of US$2,350 per ounce. This result included: 115,345 ounces sold by Yaouré at a weighted average sales price of US$2,326 per ounce; 34,223 ounces sold by Sissingué at a weighted average sales price of US$2,264 per ounce; and 95,950 ounces sold by Edikan at an average sales price of US$2,409 per ounce. During the six months, the Group sold 2% less gold, at a price that was approximately 20% higher than in the comparative period in 2023. The Group's net profit after tax for the six-month period ended 31 December 2024 was up 22% on the previous corresponding period to US$201.1 million (December 31, 2023: US$164.7 million), after bringing to account a foreign exchange gain of US$10.3 million (31 December 2023: US$2.7 million loss). Gross profit from operations for the period ended 31 December 2024 was up 26% on the comparative period to US$265.3 million (December 31, 2023: US$210.3 million). These increases are largely attributable to a 19% increase in revenue to $581.8 million (December 31, 2023: US$489.0 million), with only a 10% increase in cost of sales. This result represents the continued strong contributions from Edikan and Yaouré, and improved profitability for Sissingué. The Group generated net cash from operating activities for the half year ended December 31, 2024 of US$247.6 million, up 17% on the comparative period (December 31, 2023: US$211.2 million). As at December 31, 2024, Perseus had cash on-hand of US$628.5 million (June 30, 2024: US$536.9 million), and 29,078 ounces of gold bullion (June 30, 2024: 21,570 ounces) valued at US$76 million (June 30, 2024: US$50.3 million). Perseus also owns US$67 million of investments in listed securities. At the end of the period, the Group had net assets of US$1,878.3 million (June 30, 2024: US$1,780.0 million) and an excess of current assets over current liabilities of US$659.7 million (June 30, 2024: US$544.1 million). The Group's net assets increased compared with the prior year predominantly due to an increase in its cash balance as a result of its strong operating margin, as well as an increase in its inventory balances, due to a buildup of stockpiles. Group Gold Production and Cost Market Guidance Forecast group gold production and AISC for the June 2025 half year (2H FY25) and full 2025 financial year (FY25) are shown in the table below. PARAMETER UNITS DECEMBER 2024 HALF YEAR(ACTUAL) JUNE 2025 HALF YEARFORECAST 2025 FINANCIAL YEARFORECAST Yaouré Gold Mine Production Ounces 123,158 120,000 - 135,000 oz 243,158 – 258,158 oz All-in Site Cost USD per ounce 1,124 US$1,215 – 1,315 per/oz US$1,160 – 1,210/oz Edikan Gold Mine Production Ounces 96,634 75,000 - 85,000 oz 172,634 – 182,634 oz All-in Site Cost USD per ounce 1,022 US$1,325 – 1,425/oz US$1,150 – 1,190/oz Sissingué Gold Complex Production Ounces 33,917 20,000 - 30,000 oz 53,917 – 63,917 oz All-in Site Cost USD per ounce 1,701 US$2,100 – 2,200/oz US$1,880 – 1,900/oz PERSEUS GROUP Production Ounces 253,709 215,000 - 250,000 ounces 469,709 – 504,709 ounces All-in Site Cost USD per ounce 1,162 US$1,360 – 1,435 per ounce US$1,250 – 1,280 per ounce : 'With this result, Perseus has continued to cement its position as one of the more profitable mid-tier gold producers on a global scale, with its gold production of 253,709 ounces at an all-in site cost of US$1,162 per ounce during the December 2024 Half Year, translating to a strong performance across all key financial metrics. Our after-tax earnings of US$201 million for the six-month period was an excellent result, as was our operating cashflow of US$248 million for the period. By December 31, 2024 Half Year, our net tangible assets had increased to US$1.34 billion including cash and bullion on hand of US$704 million, US$67 million of marketable securities, no debt but undrawn debt capacity of US$300 million. In addition, in recognition of the improving financial position of the Company, we have increased our interim dividend to AUD 2.5 cents per share, while maintaining a balanced capital structure which enables us to continue to enhance the quality of our asset portfolio through future growth.' This market announcement was authorised for release by the Board of Directors of Perseus Mining Limited. IMPORTANT NOTICES COMPETENT PERSON STATEMENT All production targets referred to in this release are underpinned by estimated Ore Reserves which have been prepared by competent persons in accordance with the requirements of the JORC information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Edikan was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Edikan Gold Mine, Ghana' dated 7 April 2022 continue to information in this release that relates to the Mineral Resources and Ore Reserve at the Sissingué complex was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Sissingué Gold Project, Côte d'Ivoire' dated 29 May 2015 continue to information in this release that relates to the Open Pit and Underground Mineral Resources and Ore Reserve at Yaouré was updated by the Company in a market announcement 'Perseus Mining updates Mineral Resources and Ore Reserves' released on 21 August 2024. The Company confirms that all material assumptions underpinning those estimates and the production targets, or the forecast financial information derived therefrom, in that market release continue to apply and have not materially changed. The Company further confirms that material assumptions underpinning the estimates of Ore Reserves described in 'Technical Report — Yaouré Gold Project, Côte d'Ivoire' dated 19 December 2023 continue to apply. CAUTION REGARDING FORWARD LOOKING INFORMATION: This report contains forward-looking information which is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made by the Company regarding, among other things: the price of gold, continuing commercial production at the Yaouré Gold Mine, the Edikan Gold Mine and the Sissingué Gold Mine without any major disruption, the receipt of required governmental approvals, the accuracy of capital and operating cost estimates, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used by the Company. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company's ability to carry on its exploration and development activities, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update forward-looking information, except in accordance with applicable securities laws. ASX/TSX CODE: PRUCAPITAL STRUCTURE:Ordinary shares: 1,372,184,529Performance rights: 10,383,593REGISTERED OFFICE:Level 2437 Roberts RoadSubiaco WA 6008Telephone: +61 8 6144 DIRECTORS:Rick MenellNon-Executive ChairmanJeff QuartermaineManaging Director & CEO Amber BanfieldNon-Executive DirectorElissa CorneliusNon-Executive DirectorDan LougherNon-Executive DirectorJohn McGloinNon-Executive Director CONTACTS:Jeff QuartermaineManaging Director & FormanInvestor Relations+61 484 036 RyanMedia Relations+61 420 582 in to access your portfolio
