Latest news with #capital expenditure
Globe and Mail
23-07-2025
- Business
- Globe and Mail
Rogers raises service revenue guidance, records steep profit decline in second quarter
Rogers Communications Inc. (RCI-B-T) raised its guidance for service revenue this year and said it would spend at the bottom of its estimated capital expenditure range in 2025, even as subscriber growth and profit declined steeply during the telecom's second quarter. Rogers reported $4.4-billion of service revenue during the three-month period ended March. 31, up 2 per cent from last year. It raised its expectations for service revenue for the year to between 3 and 5 per cent growth, up from an initial estimate of flat to 3 per cent growth. Total revenue was $5.2-billion, meeting analyst consensus. Net income was $148-million, down 62 per cent, primarily as a result of higher restructuring, acquisition and other costs. The company said it is now expecting to spend $3.8-billion in 2025, compared to an initial estimated range of between $3.8-billion to $4-billion, provided in January. Rogers added 35,000 postpaid wireless subscribers, beating analyst consensus expectations of 31,000 and sharply down 77 per cent from last year. The company added 26,000 prepaid phone subscribers, beating consensus of 22,000, down 26 per cent from last year. During a call with analysts Wednesday morning, Rogers chief executive officer Tony Staffieri acknowledged that 'the size of the net add market is lower than last year,' and said these numbers are in part the result of slowing immigration following federal target cuts and fewer student visas. Historically, Rogers has won the greatest share of new Canadian subscribers, making it particularly vulnerable to the slowing population growth. Bank of Nova Scotia analyst Maher Yaghi called the results 'broadly in line with expectations,' and said the customer loading numbers were 'relatively healthy' given continued pressure on the Canadian telecom industry and slower population growth. 'While financial results do clearly show the impact from significant pricing pressures we believe recent price ups which we saw since early June provide a more positive backdrop for the industry,' he said. Rogers closed its $6.7-billion structured equity deal with Blackstone Inc. for a portion of its backhaul network during the quarter. Previously, Rogers had said the deal was worth $7-billion. It attributed the discrepancy of $300-million to shifting exchange rates. The company had long-term debt of $39.8-billion as of July 23, down from $42.2-billion at the end of March. Following the Blackstone deal and after the end of the quarter, in July Rogers launched cash offers to repurchase up to US$1.7-billion and $1.2-billion of senior notes. Media revenue was $808-million, up 10 per cent from last year primarily as a result of higher sports-related revenue due to the success of the NHL playoffs. Last quarter, Rogers said it was in active talks with investors interested in its sports assets, as the company seeks to unlock value from its portfolio of sports holdings and boost its share price. The company closed its $4.7-billion acquisition of a portion of Maple Leaf Sports & Entertainment on July 1, one day after the end of the quarter. Rogers chief financial officer Glenn Brandt said that the company's sports assets, including the Toronto Blue Jays and the portion of Maple Leaf Sports & Entertainment recently acquired from BCE Inc., are worth about $15-billion. In July, after the end of the quarter, the company ended its contract with third-party customer service provider Foundever. Employment Law firm Samfiru Tumarkin LLP estimated this would affect approximately 900 jobs. Rogers attributed the move to a change of its 'vendor mix.' Second-quarter profit amounted to 29 cents per share, down from 74 cents per share in the same period of 2024. In recent weeks, Rogers increased its connection fee from $75 to $80, added new travel passes for 14- or 30-day periods and announced an upcoming daily roaming fee price increase of $2 per day.
Yahoo
23-07-2025
- Business
- Yahoo
Stevanato Group Secures €200 Million in Financing from BNL BNP Paribas, Cassa Depositi e Prestiti, and Banco BPM to Fund Ongoing CAPEX Investments in Italy and the U.S.
PIOMBINO DESE, Italy, July 23, 2025--(BUSINESS WIRE)--Stevanato Group S.p.A. (NYSE: STVN), a global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, announced today that it has secured €200 million in financing through agreements with BNL BNP Paribas, Cassa Depositi e Prestiti (CDP), and Banco BPM. These fundings are intended to support the Company's ongoing capital expenditure projects in Cisterna di Latina (Italy) and Fishers (Indiana, U.S.). The financing agreements bolster Stevanato Group's capacity expansion efforts and the scaling of commercial production to support customers' growing biologics programs. CDP has committed €50 million to enhance the production of pre-filled syringes and set-up future capacity for ready-to-use (RTU) cartridges at Stevanato Group's Italian plant in Cisterna di Latina. Additionally, BNL BNP Paribas has provided €100 million, and Banco BPM has contributed €50 million, both aimed at scaling pre-filled syringe production at the company's facilities in North America (Indiana) and Italy, as well as completing the ongoing construction for device manufacturing in Fishers. "These agreements are an important element to Stevanato Group's financial strategy, allowing us to capitalize on robust customer demand and support the Company's long-term growth objectives," stated Marco Dal Lago, Chief Financial Officer of Stevanato Group. "We are committed to supporting our customers' biopharmaceutical programs with our unique value proposition of offering integrated solutions across the pharmaceutical value chain, helping to enable our customers to meet and exceed their program objectives." BNL BNP Paribas and Cassa Depositi e Prestiti have renewed their support for Stevanato Group to achieve long-term organic growth objectives in its key end-markets. Gianluca Mariani, Head of Industrial Manufacturing, Large Corporate Banking at BNL BNP Paribas: "Our support for Stevanato Group reflects our commitment to partnering with companies that invest in innovation, sustainability and global expansion. Stevanato Group is a leading example of excellence in its sector, and our goal is to make our domestic and international platforms available to contribute to the growing ambitions of the Company in the coming years." "We are proud to once again support the growth plans of Stevanato Group, a leading Italian company active in the pharmaceutical sector, which is strategic for the Country," stated Marco Roberto Pessione, Head of Corporate Coverage at CDP. "We firmly believe in the value of companies that invest in research, quality, and sustainable development, and that make a tangible contribution to the growth of the national economy. We remain committed to standing alongside these businesses, providing effective financial instruments to support their growth and consolidation plans both in Italy and internationally." "We are proud to support a company like Stevanato Group, a symbol of Italian industrial excellence worldwide, in its solid and innovation-driven growth journey," said Enrico Lemmo, Head of Corporate Banking North-East at Banco BPM. "This financing reflects our commitment to backing projects that create value locally while strengthening the international competitiveness of Italian enterprises." Forward-Looking Statements This press release may include forward-looking statements. The words "growing," "enhancing," "intended," "are seeing," "are committed," "achieve," "enable," and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the investments the Company expects to receive, the expansion of manufacturing capacity, the Company's plans regarding its presence in the U.S. market, business strategies, the Company's capacity to meet future market demands and support preparedness for future public health emergencies, and results of operations. The forward-looking statements in this press release are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements. About Stevanato Group Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group's core capabilities in scientific research and development, its commitment to technical innovation and its engineering excellence are central to its ability to offer value added solutions to clients. To learn more, visit: BNL BNP Paribas With more than one hundred years' experience, BNL BNP Paribas is one of the main Italian banking groups and one of the most well-known brands in Italy, where it operates all over the Country. It offers a wide range of products and services to meet the diverse needs of its clients (individuals, businesses, and public administrations). Since 2006, BNL has been part of BNP Paribas, a Group present in 63 countries with approximately 183,000 employees, including over 146,000 in Europe, where it operates in four domestic markets: Belgium, France, Italy, and Luxembourg. BNP Paribas holds key positions in its major business segments: Commercial, Personal Banking & Services; Investment & Protection Services; and Corporate & Institutional Banking. Like the entire Group, BNL BNP Paribas is particularly committed to economic, social, and environmental sustainability; a strategy that epitomizes the Bank's ambition to generate, through its business, a positive impact on clients, employees, and the community, contributing to a more sustainable future. About CDP Cassa Depositi e Prestiti is the National Promotional Institute which has been supporting the Italian economy since 1850. The main goal of CDP is to accelerate the industrial and infrastructural development of Italy to boost its economic and social growth. CDP focuses its activities on sustainable development at local level, supporting the innovation and growth of Italian enterprises, also in the international arena. It partners local authorities, in a financing and advisory capacity, to create infrastructures and improve services of public value. CDP also participates actively in international cooperation initiatives to realize projects in developing countries and emerging markets. Cassa Depositi e Prestiti is entirely financed by private capital, through the issuing of Postal Savings Bonds and Postal Savings Passbooks, and through issues on national and international financial markets. About Banco BPM On 1 January 2017, two large so-called 'popolari' banks, Banco Popolare and Banca Popolare di Milano, merged and transformed into a joint stock company (S.p.A.). The Banco BPM Group was established: a solid entity, with over 20,000 employees, 1,400 branches and around 4 million customers. Banco BPM, which today is Italy's third largest financial services group in terms of assets, has a deeply rooted presence in the regions of Northern Italy, including those with the highest industrial concentration in Europe. A widespread network serving households and businesses, an in-depth knowledge of the markets and innovative solutions underpin the strength of Banco BPM, which is active in various areas of the banking sector – private and investment banking, asset management, bancassurance – also through the Group's subsidiaries. Banco BPM's business model focuses on its people and their skills, enhanced by constant training. The Group operates in the tradition of 'popolari' banks, generating profitability for its shareholders and creating value for all its stakeholders in the areas in which it is present, so as to play a leading role in the sustainable and inclusive development of the country. View source version on Contacts Media Stevanato Group Caterina Tripepi: Cassie Gonzales: stevanatoUS@ Nicolò Marcon: stevanatoita@ Investor Relations Stevanato Group Lisa Miles: Media Relations BNL BNP Paribas: +39 06.42925362 Media Cassa Depositi e Prestiti: Phone: +39 Media Relations Banco BPM: stampa@ Phone: +39 366-7864226
