Latest news with #internationalgrowth
Bloomberg
16-05-2025
- Business
- Bloomberg
Walmart Names Company Veteran to Oversee International Growth
Walmart Inc. selected a company veteran to fill a newly created role that aims to spark international growth, as the world's largest retailer looks to bolster its overseas operations. Andrea Albright will serve as the chief growth officer for Walmart International, according to a message viewed by Bloomberg News. Albright has been at Walmart for about two decades, most recently running its global sourcing efforts.
Yahoo
13-05-2025
- Business
- Yahoo
Organigram Global Inc (OGI) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic Expansion
Gross Sales: Increased 79% year-over-year, surpassing $100 million for the first time in a quarter. Net Revenue: Up 74% year-over-year to $65.6 million. International Sales: Increased 177% to $6.1 million from $2.2 million in the prior-year period. Adjusted Gross Margin: $21.9 million or 33%, compared to $11.6 million or 31% in the prior-year period. Adjusted EBITDA: $4.9 million compared to negative $1 million in the prior-year period. Net Income: $42.5 million compared to a net loss of $27.1 million in Q2 fiscal 2024. Cash Position: Total cash of $83.4 million as of March 31, including both restricted and unrestricted cash. SG&A Costs: Total SG&A costs were $22.4 million, a 10% increase versus the prior period last year. Capital Expenditures: Planned investment of $8 million to $10 million in sustaining capital expenditures during fiscal 2025. Warning! GuruFocus has detected 2 Warning Signs with OGI. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Organigram Global Inc (NASDAQ:OGI) reported a record-breaking quarter by revenue, with gross sales up 79% year-over-year, surpassing $100 million for the first time. The company achieved a leading market share in Canada, particularly in the vape category with a 21.7% share, and maintained strong positions in flower and pre-rolls. International sales increased by 177% year-over-year, driven by strong demand in markets like Germany and Australia. The integration of the Motif acquisition is progressing well, with expected synergies now estimated at $15 million annually, up from the previous $10 million. Organigram Global Inc (NASDAQ:OGI) is expanding its presence in the US hemp-derived THC beverage market, with products now distributed in 10 states and carried by major retailers. Despite the record revenue, the company experienced negative cash flow this quarter, primarily due to working capital investments and the Collective Project acquisition. Margins from the Motif acquisition were lower than the core business, impacting overall adjusted gross margin. The company faces a fragmented and competitive market in Canada, with the top three LPs holding only 27% of total market share. There is potential for price compression in international markets, as value flower is starting to appear in Germany. The US hemp-derived THC beverage market is highly competitive, with many brands and the need for significant investment to drive growth and consumer adoption. Q: Can you provide more details on your international growth outlook for 2025, especially regarding the EU-GMP certification and its impact on capacity allocation between international and domestic markets? A: Beena Goldenberg, CEO: We are balancing demands between domestic and international sales. International sales have higher margins due to the absence of excise taxes, but we aim to maintain our domestic market leadership. We anticipate price compression in international markets, so it's crucial to balance both. We are increasing capacity with projects like the LED upgrade, adding 14,000 kilos of capacity. We expect higher international sales in the latter half of the year, driven by demand in Germany and other markets. Q: What are your expectations for EBITDA margins in the medium term, and what are the key drivers for margin improvement? A: Greg Guyatt, CFO: We have realized about $1.5 million of the $5 million in targeted synergies for this year, mainly in COGS. EBITDA growth will be driven by margin growth, targeting a 40% gross margin in the second half of fiscal 2026, and cost management. As revenue grows, SG&A is not expected to increase materially, allowing for better leverage on the P&L and improved EBITDA margins. Q: Can you explain the negative cash flow this quarter and your cash flow expectations for the rest of the year? A: Greg Guyatt, CFO: The negative cash flow was mainly due to a $6 million investment in the Collective Project acquisition and intentional working capital investment to prepare for strong growth in Q3 and Q4. We expect to be cash flow positive for the full year, with significant cash flow improvements starting in the third quarter. Q: What is your strategy for the US hemp-derived THC market, and when do you expect it to be accretive to margins? A: Beena Goldenberg, CEO: We are in the early stages of expanding the Collective Project brand in the US, focusing on building distribution and consumer awareness. We expect to expand distribution to more states and launch a direct-to-consumer website soon. While we are investing in growth, we anticipate the US market to become more accretive as we scale and gain consumer adoption. Q: What drove the significant increase in international sales, and was it due to new customers or expanded orders from existing partners? A: Beena Goldenberg, CEO: The growth was driven by meeting increased demand from existing customers, not new ones. There is strong demand for high-quality Canadian cannabis, and once a cultivar is established in medical markets, it leads to repeat purchases. We expect further growth with the upcoming EU-GMP certification, which will streamline fulfillment and potentially increase pricing. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
13-05-2025
- Business
- Yahoo
Organigram Global Inc (OGI) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic Expansion
Gross Sales: Increased 79% year-over-year, surpassing $100 million for the first time in a quarter. Net Revenue: Up 74% year-over-year to $65.6 million. International Sales: Increased 177% to $6.1 million from $2.2 million in the prior-year period. Adjusted Gross Margin: $21.9 million or 33%, compared to $11.6 million or 31% in the prior-year period. Adjusted EBITDA: $4.9 million compared to negative $1 million in the prior-year period. Net Income: $42.5 million compared to a net loss of $27.1 million in Q2 fiscal 2024. Cash Position: Total cash of $83.4 million as of March 31, including both restricted and unrestricted cash. SG&A Costs: Total SG&A costs were $22.4 million, a 10% increase versus the prior period last year. Capital Expenditures: Planned investment of $8 million to $10 million in sustaining capital expenditures during fiscal 2025. Warning! GuruFocus has detected 2 Warning Signs with OGI. Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Organigram Global Inc (NASDAQ:OGI) reported a record-breaking quarter by revenue, with gross sales up 79% year-over-year, surpassing $100 million for the first time. The company achieved a leading market share in Canada, particularly in the vape category with a 21.7% share, and maintained strong positions in flower and pre-rolls. International sales increased by 177% year-over-year, driven by strong demand in markets like Germany and Australia. The integration of the Motif acquisition is progressing well, with expected synergies now estimated at $15 million annually, up from the previous $10 million. Organigram Global Inc (NASDAQ:OGI) is expanding its presence in the US hemp-derived THC beverage market, with products now distributed in 10 states and carried by major retailers. Despite the record revenue, the company experienced negative cash flow this quarter, primarily due to working capital investments and the Collective Project acquisition. Margins from the Motif acquisition were lower than the core business, impacting overall adjusted gross margin. The company faces a fragmented and competitive market in Canada, with the top three LPs holding only 27% of total market share. There is potential for price compression in international markets, as value flower is starting to appear in Germany. The US hemp-derived THC beverage market is highly competitive, with many brands and the need for significant investment to drive growth and consumer adoption. Q: Can you provide more details on your international growth outlook for 2025, especially regarding the EU-GMP certification and its impact on capacity allocation between international and domestic markets? A: Beena Goldenberg, CEO: We are balancing demands between domestic and international sales. International sales have higher margins due to the absence of excise taxes, but we aim to maintain our domestic market leadership. We anticipate price compression in international markets, so it's crucial to balance both. We are increasing capacity with projects like the LED upgrade, adding 14,000 kilos of capacity. We expect higher international sales in the latter half of the year, driven by demand in Germany and other markets. Q: What are your expectations for EBITDA margins in the medium term, and what are the key drivers for margin improvement? A: Greg Guyatt, CFO: We have realized about $1.5 million of the $5 million in targeted synergies for this year, mainly in COGS. EBITDA growth will be driven by margin growth, targeting a 40% gross margin in the second half of fiscal 2026, and cost management. As revenue grows, SG&A is not expected to increase materially, allowing for better leverage on the P&L and improved EBITDA margins. Q: Can you explain the negative cash flow this quarter and your cash flow expectations for the rest of the year? A: Greg Guyatt, CFO: The negative cash flow was mainly due to a $6 million investment in the Collective Project acquisition and intentional working capital investment to prepare for strong growth in Q3 and Q4. We expect to be cash flow positive for the full year, with significant cash flow improvements starting in the third quarter. Q: What is your strategy for the US hemp-derived THC market, and when do you expect it to be accretive to margins? A: Beena Goldenberg, CEO: We are in the early stages of expanding the Collective Project brand in the US, focusing on building distribution and consumer awareness. We expect to expand distribution to more states and launch a direct-to-consumer website soon. While we are investing in growth, we anticipate the US market to become more accretive as we scale and gain consumer adoption. Q: What drove the significant increase in international sales, and was it due to new customers or expanded orders from existing partners? A: Beena Goldenberg, CEO: The growth was driven by meeting increased demand from existing customers, not new ones. There is strong demand for high-quality Canadian cannabis, and once a cultivar is established in medical markets, it leads to repeat purchases. We expect further growth with the upcoming EU-GMP certification, which will streamline fulfillment and potentially increase pricing. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
08-05-2025
- Business
- Globe and Mail
Curaleaf Reports First Quarter 2025 Results
First quarter 2025 total revenue of $310 million First quarter 2025 International revenue of $35 million First quarter 2025 adjusted gross margin (1) of 50% First quarter 2025 operating cash flow from continuing operations of $42 million and free cash flow from continuing operations of $26 million STAMFORD, Conn. , May 8, 2025 /CNW/ -- Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today reported its financial and operating results for the first quarter ended March 31, 2025. All financial information is reported in accordance with U.S. generally accepted accounting principles (GAAP) and is provided in U.S. dollars, unless otherwise indicated. Boris Jordan , Chairman and CEO of Curaleaf, stated, "First quarter revenue was $310 million , with an adjusted gross profit of $155 million , resulting in a 50% adjusted gross margin, an increase of 250 basis points compared to the prior year period. We ended Q1 with $122 million in cash, with operating and free cash flow from continuing operations of $42 million and $26 million , respectively. Additionally, we paid down $20 million in acquisition-related debt. International revenue grew by 74% year–over-year — marking the fourth consecutive quarter of 70% plus growth — and we are encouraged by prospects for new market openings that could materialize over the next year. I'm happy to report that we've completed much of the heavy lifting needed to reposition the business for long-term success, including streamlining operations, improving key manufacturing metrics, and sharpening our focus on flower quality. This was evident through several recent successful national product launches, including our hemp THC energy drink, Select FormulaX, our new innovation in the vape category, Select ACE, and the launch of our new pre-roll brand, Anthem. I remain positive that we're positioning the business to remain resilient and agile in a dynamic environment." First Quarter 2025 Financial Highlights Net Revenue of $310.0 million , a year-over-year decrease of 9% compared to Q1 2024 revenue of $338.9 million . Sequentially, net revenue decreased 6% compared to Q4 2024 revenue of $331.1 million . Gross profit of $155.2 million and gross margin of 50%, an increase of 260 basis points year-over-year. Adjusted gross profit (1) of $155.4 million and adjusted gross margin (1) of 50%, an increase of 250 basis points year-over-year. Net loss attributable to Curaleaf Holdings, Inc. from continuing operations of $54.8 million or net loss per share from continuing operations of $0.07 . Adjusted EBITDA (1) of $65.2 million and adjusted EBITDA margin (1) of 21%, a 180 basis point decrease year-over-year. Cash at quarter end totaled $121.9 million . First Quarter 2025 Operational Highlights Launched Reef, a high-quality flower brand in Florida Relocated one store in Sedona, Arizona , ending the quarter with a total of 149 retail locations Expanded Select Zero Proof Hemp Seltzer line with launch of 2.5mg dose option and new flavors Began selling Select hemp-derived THC beverages to over 100 Total Wine stores across the U.S. Launched Select FormulaX, a new line of hemp THC energy drinks with the added boost of caffeine Post First Quarter 2025 Operational Highlights Opened the Company's 66th retail location in Florida in Winter Park , bringing the nationwide store count to 151 locations Opened the first fully dedicated hemp retail storefront in West Palm Beach, Florida Launched Anthem, our new pre-roll brand rooted in American innovation, in New York , New Jersey , Illinois , Massachusetts , Arizona , and Florida , with more states to come Launched Select ACE utilizing an exclusive proprietary Aqueous Cannabis Extraction production method in New York , Massachusetts , and Florida (1) Adjusted EBITDA, adjusted net income (loss), adjusted gross profit and free cash flow are non-GAAP financial measures, and adjusted EBITDA margin, adjusted net income (loss) per share and adjusted gross margin are non-GAAP financial ratios, in each case without a standardized definition under GAAP and which may not be comparable to similar measures used by other issuers. See "Non-GAAP Financial Performance Measures" below for definitions and more information regarding Curaleaf's use of non-GAAP financial measures and non-GAAP financial ratios. See "Reconciliation of Non-GAAP financial measures" below for a reconciliation of each non-GAAP financial measure used in this press release from the most directly comparable GAAP financial measure. Balance Sheet and Cash Flow As of March 31, 2025, the Company had $121.9 million of cash and $561.2 million of outstanding debt net of unamortized debt discounts. During the three months ended March 31, 2025, Curaleaf invested $16.3 million in capital expenditures, focused on facility upgrades, automation, and selective retail expansion in strategic markets. Shares Outstanding For the first quarter of 2025 and 2024, the Company's weighted average Subordinate Voting Shares plus Multiple Voting Shares outstanding amounted to 744,898,937 and 736,147,618 shares, respectively. Conference Call Information The Company will host a conference call and audio webcast for investors and analysts on Thursday, May 8, 2025 at 5:00 P.M. ET to discuss Q1 2025 earnings results. The call can be accessed by dialing 1-844-512-2926 in the U.S., Canada 1-416-639-5883, or internationally from 1-412-317-6300. The conference pin # is 3653488. A replay of the conference call can be accessed at 1-877-344-7529 in the U.S., Canada 1-855-669-9658, or internationally from 1-412-317-0088, using the replay pin # 4847047. A webcast of the call can be accessed on the investor relations section of the Curaleaf website at The teleconference will be available for replay starting at approximately 7:00 P.M. ET on Thursday , May 8, 2025 and will end at 11:59 P.M. ET on May 15, 2025 . Non-GAAP Financial and Performance Measures Curaleaf reports its financial results in accordance with GAAP and uses a number of financial measures and ratios when assessing its results and measuring overall performance. Some of these financial measures and ratios are not calculated in accordance with GAAP. Curaleaf refers to certain non-GAAP financial measures and ratios, such as "adjusted gross profit", "adjusted gross margin", "adjusted net income (loss)", "adjusted EBITDA", "adjusted EBITDA margin" and "Free cash flow from operations". These measures do not have any standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other issuers. "Adjusted gross profit" is defined by Curaleaf as gross profit net of cost of goods sold and related other add-backs. "Adjusted gross margin" is defined by Curaleaf as adjusted gross profit divided by total revenues. "Adjusted net income (loss)" is defined by Curaleaf as net income (loss) net of (gain) loss on impairments and related other add-backs. "Adjusted net income (loss) per share" is defined by Curaleaf as adjusted net income (loss) divided by the weighted average common shares outstanding. "Adjusted EBITDA" is defined by Curaleaf as earnings before interest, taxes, depreciation and amortization less share-based compensation expense and other add-backs related to business development, acquisition, financing and reorganization costs. "Adjusted EBITDA margin" is defined by Curaleaf as adjusted EBITDA divided by total revenue. "Free cash flow from operations" is defined by Curaleaf as net cash provided by operating activities from continuing operations less the purchases of property, plant and equipment (i.e. net capital expenditures). Curaleaf considers these measures to be an important indicator of the financial strength and performance of our business. Curaleaf believes the adjusted results presented provide relevant and useful information for investors, because they clarify our actual operating performance, make it easier to compare our results with those of other companies and allow investors to review performance in the same way as our management. Since these measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, our reported GAAP financial results as indicators of our performance, and they may not be comparable to similarly named measures from other companies. The tables below provide reconciliations of Non-GAAP measures to the most directly comparable GAAP measures. (1) Other add-backs reflect the impact on cost of goods sold from non-routine severance costs and non-cash inventory adjustments. (2) Represents a Non-GAAP measure or Non-GAAP ratio. See preceding "Non-GAAP Financial and Performance Measures" section for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Gross profit from continuing operations, the most comparable GAAP measure, to Adjusted gross profit from continuing operations, a non-GAAP measure. Gross profit from continuing operations was $155.2 million in the first quarter of 2025, compared with $160.9 million in the prior year period. Adjusted gross profit from continuing operations for the first quarter of 2025 was $155.4 million compared with $161.4 million in the first quarter of 2024. Adjusted gross profit margin from continuing operations for the first quarter of 2025 was 50%, an increase of 250 basis points compared with the first quarter of 2024. The year-over-year increase in adjusted gross profit margin was due to improved efficiencies in the Company's cultivation and manufacturing operations. Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Net loss from continuing operations $ (54,795) $ (71,777) $ (51,577) Loss on impairments (3,695) 55,790 3,926 Other add-backs (1) 3,363 28,363 5,039 Adjusted net (loss) income from continuing operations (2) $ (55,127) $ 12,376 $ (42,612) Adjusted net (loss) income per share from continuing operations (2) $ (0.07) $ 0.02 $ (0.06) Weighted average common shares outstanding – basic and diluted 744,898,937 748,936,695 736,147,618 (1) Other add-backs in Q1 2025 represent the impact of non-routine severance, legal fees and non-cash inventory adjustments. (2) Represents a non-GAAP measure or Non-GAAP ratio. See preceding "Non-GAAP Financial and Performance Measures" section for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net loss from continuing operations, the most comparable GAAP measure, to Adjusted net loss from continuing operations, a non-GAAP measure. Adjusted EBITDA ($ thousands) Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Net loss $ (60,246) $ (78,473) $ (51,010) Net (loss) income from discontinued operations (5,451) (6,696) 567 Net loss from continuing operations (54,795) (71,777) (51,577) Interest expense, net 25,074 24,170 25,762 Provision (benefit) for income taxes 36,855 (5,454) 40,090 Depreciation and amortization (1) 49,358 74,891 51,946 Share-based compensation 4,624 5,327 7,509 Loss on impairment 3,695 55,790 (3,926) Total other (income) expense, net (3,003) (12,010) 2,353 Other add-backs (2) 3,363 4,863 5,039 Adjusted EBITDA (3) $ 65,171 $ 75,800 $ 77,196 Adjusted EBITDA Margin (3) 21.0 % 22.9 % 22.8 % (1) Depreciation and amortization expense include amounts charged to Cost of goods sold on the Statement of Operations. (2) Other add-backs in Q1 2025 primarily include costs related to restructuring costs and legal fees. Other add-backs in Q4 2024 excludes a $23.5 million adjustment for the accelerated amortization recognized on certain finance leases, as this adjustment is reflected above within Depreciation and amortization. (3) Represents a non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" below for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net loss, the most comparable GAAP measure to Adjusted EBITDA, a non-GAAP measure. Adjusted EBITDA was $65.2 million for the first quarter of 2025, compared to $77.2 million for the first quarter of 2024, and Adjusted EBITDA margin decreased to 21.0%. (1) Represents a Non-GAAP measure or Non-GAAP ratio. See "Non-GAAP Financial and Performance Measures" above for definitions and more information regarding Curaleaf's use of Non-GAAP financial measures and Non-GAAP ratios. The table above provides a reconciliation of Net cash provided by operating activities from continuing operations, a GAAP measure, to Free cash flow from continuing operations, a non-GAAP measure. Condensed Consolidated Balance Sheets ($ thousands) As of March 31, 2025 December 31, 2024 Unaudited Audited Assets Cash, cash equivalents and restricted cash $ 121,867 $ 107,226 Other current assets 324,055 322,455 Property, plant and equipment, net 546,152 546,426 Right-of-use assets, finance lease, net 105,681 105,168 Right-of-use assets, operating lease, net 115,790 116,519 Intangible assets, net 1,068,628 1,085,397 Goodwill 631,816 628,884 Other long-term assets 33,438 37,461 Total assets $ 2,947,427 $ 2,949,536 Liabilities, Temporary equity and Shareholders' equity Total current liabilities $ 316,231 $ 387,925 Total long-term liabilities 1,668,096 1,568,218 Redeemable non-controlling interest contingency 149,079 132,179 Total shareholders' equity 814,021 861,214 Total liabilities, temporary equity and shareholders' equity $ 2,947,427 $ 2,949,536 Condensed Interim Consolidated Statements of Operations (Unaudited) ($ thousands, except for share and per share amounts) Three Months Ended March 31, 2025 March 31, 2024 Revenues, net: Retail and wholesale revenues $ 308,366 $ 337,577 Management fee income 1,641 1,355 Total revenues, net 310,007 338,932 Cost of goods sold 154,833 178,028 Gross profit 155,174 160,904 Operating expenses: Selling, general and administrative 107,284 104,392 Share-based compensation 4,624 7,509 Depreciation and amortization 35,440 36,301 Total operating expenses 147,348 148,202 Income from continuing operations 7,826 12,702 Other income (expense): Interest income 171 17 Interest expense (14,161) (15,363) Interest expense related to lease liabilities and financial obligations (11,084) (10,416) (Loss) gain on impairment (3,695) 3,926 Other income (expense), net 3,003 (2,353) Total other expense, net (25,766) (24,189) Loss before provision for income taxes (17,940) (11,487) Provision for income taxes (36,855) (40,090) Net loss from continuing operations (54,795) (51,577) Net (loss) income from discontinued operations (5,451) 567 Net loss (60,246) (51,010) Less: Net income (loss) attributable to non-controlling interest 817 (2,697) Net loss attributable to Curaleaf Holdings, Inc. $ (61,063) $ (48,313) Per share – basic and diluted: Net loss per share from continuing operations – basic and diluted $ (0.07) $ (0.07) Weighted average common shares outstanding – basic and diluted 744,898,937 736,147,618 About Curaleaf Holdings Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, Find, Anthem and The Hemp Company, provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is powered by a strong presence in all stages of the supply chain. Its unique distribution network throughout Europe , Canada and Australasia brings together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit Curaleaf IR X Account: Investor Relations Website: Contact Information: Investor Contact: Curaleaf Holdings, Inc. Camilo Lyon , Chief Investment Officer ir@ Media Contact: Curaleaf Holdings, Inc. Jordon Rahmil, VP Public Relations media@ Disclaimer This press release contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and U.S. securities laws (collectively, "forward-looking statements"). Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on management's current beliefs, expectations or assumptions regarding the future of the business, plans and strategies, operational results and other future conditions of the Company. In addition, the Company may make or approve certain statements in future filings with Canadian securities regulatory authorities, in press releases, or in oral or written presentations by representatives of the Company that are not statements of historical fact and may also constitute forward-looking statements. All statements, other than statements of historical fact, made by the Company that address activities, events or developments that the Company expects or anticipates will or may occur in the future are forward-looking statements, including, but not limited to, statements preceded by, followed by or that include words such as "assumptions", "assumes", "guidance", "outlook", "may", "will", "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "intends", "anticipates", "targeted", "continues", "forecasts", "designed", "goal" or the negative of those words or other similar or comparable words. In particular, but without limiting the foregoing, disclosure in this press release as well as statements regarding the Company's objectives, plans and goals, including benefits of recent or future acquisitions, rebranding and product offering expansion, as well as future operating results and economic performance are forward-looking statements. These statements speak only as at the date they are made and are based on information currently available and on the then current expectations. Holders of securities of the Company are cautioned that forward-looking statements are not based on historical facts but instead are based on reasonable assumptions and estimates of management of the Company at the time they were provided or made and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, but not limited to, risks and uncertainties related to: the legality of cannabis in the U.S., including the fact that cannabis is a controlled substance under the United States Federal Controlled Substances Act; anti-money laundering laws and regulations; the lack of access to U.S. bankruptcy protections; financing risks, including risks related to additional financing and restricted access to banking; general regulatory and legal risks, including the potential constraints on the Company's ability to expand its business in the U.S. by virtue of the restrictions of the TSX following the TSX listing; risk of legal, regulatory or political change; general regulatory and licensing risks; limitation on ownership of licenses; risks relating to regulatory action and approvals from the U.S. Food and Drug Administration ("FDA"); the fact that cannabis may become subject to increased regulation by the FDA; potential heightened scrutiny by regulatory authorities following the TSX listing; loss of foreign private issuer status; risks related to internal controls over financial reporting; litigation risks; increased costs as a result of being a public company in Canada and the U.S.; recent and proposed legislation in respect of U.S. cannabis licensing; environmental risks, including risks related to environmental regulation and unknown environmental risks; general business risks including risks related to the Company's expansion into foreign jurisdictions; future acquisitions or dispositions; service providers; enforceability of contracts; the ability of our shareholders to resell their subordinate voting shares on the TSX; the Company's reliance on senior management and key personnel, and the Company's ability to recruit and retain such senior management and key personnel; competition risks; risks inherent in an agricultural business; unfavorable publicity or consumer perception; product liability; product recalls; the results of future clinical research; reliance on inputs; risks related to limited market data and inherent limitations in forecasting; intellectual property risks; constraints on marketing products; fraudulent or illegal activity by employees, consultants and contractors; increased labor costs based on union activity; information technology systems and cyber-attacks; security breaches; the Company's reliance on management services agreements with subsidiaries and affiliates; website accessibility; high bonding and insurance coverage; risks of leverage; management of the Company's growth; the fact that past performance may not be indicative of future results and that financial projections may prove materially inaccurate or incorrect; risks related to conflicts of interests; challenging global economic conditions including tariffs (and other retaliatory measures) and global trade conflicts; currency fluctuations; risks related to the Company's business structure and securities; including the status of the Company as a holding company; no dividend record; risks related to the Company's indebtedness; concentrated voting control; risks related to the sale of a substantial amount of the Company's subordinate voting shares; the volatility of the market price for the subordinate voting shares; liquidity risks associated with an investment in the subordinate voting shares; risks associated with securities or industry analysts not publishing or ceasing to publish research or reports or publishing misleading information about the Company; the potentially limited market for the subordinate voting shares for holders of the Company's securities who live in the U.S.; shareholders having little to no rights to participate in the Company's business affairs; enforcement against directors and officers outside of Canada may prove difficult; and tax risks; as well as those risk factors discussed under "Risk Factors" in the Company's Annual Information Form dated March 3, 2025 for the fiscal year ended December 31, 2024 , and additional risks described in the Company's Annual Management's Discussion and Analysis for the year ended December 31, 2024 (both of which documents have been or will be filed on the Company's SEDAR+ profile at and on its EDGAR profile at and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities. The purpose of forward-looking statements is to provide the reader with a description of management's expectations, and such forward-looking statements may not be appropriate for any other purpose. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements. You should not place undue reliance on forward-looking statements contained in this press release. Such forward-looking statements are made as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Arabian Business
07-05-2025
- Business
- Arabian Business
UAE's Arada expands in Australia with Roberts Co acquisition
Arada, a UAE-based master developer, has acquired the New South Wales arm of Roberts Co. The move marks a significant step in Arada's international growth strategy. The transaction includes an immediate recapitalisation of AED47 million, securing the jobs of 120 direct employees and stabilising employment for more than 600 additional workers across Sydney's construction supply chain. 'This acquisition reflects our strong belief in Roberts Co's people, projects, and performance, and will help us to deliver our future projects in Australia with greater control and cost efficiencies, as well as reduced risk,' said Ahmed Alkhoshaibi, Group CEO of Arada. 'We will now invest significantly into the company in order to bring it to new markets and sectors, including the UAE, and look forward to delivering on our shared vision for high-quality, community-focused development,' he added. Arada has earmarked up to AED235 million to support Roberts Co's long-term expansion into new sectors and geographies, with the aim of building a global presence and targeting annual revenues of AED2.3 billion by 2028. UAE-Australia economic partnership strengthens Ridwaan Jadwat, Australia's Ambassador to the UAE, said: 'This acquisition highlights the growing depth of the Australia-UAE relationship, underpinned by the recently signed Comprehensive Economic Partnership Agreement. It is a strong example of how closer ties between our two nations are delivering tangible benefits to our communities, supporting sustainable development and fostering long-term economic growth.' 'The acquisition of Roberts Co's New South Wales business by Arada demonstrates the UAE's commitment to strengthening economic ties with Australia, which aligns with the opportunities created through the Comprehensive Economic Partnership Agreement.' 'This strategic move not only reinforces the strong economic partnership between our countries but also reflects our shared vision for enhancing people-to-people ties as well as for innovation,' said Fahad Obaid Altaffag, UAE Ambassador to Australia. The acquisition ensures that work will continue uninterrupted across four key Sydney projects currently under development, including two schools, a residential complex, and a children's hospital. To ensure continuity, key leadership figures from Roberts Co, including Executive Chairman George Kostas, formerly CEO of Majid Al Futtaim Properties, will remain in place following the transaction. Roberts Co., founded in 2017 with a mission to 'build a better way', has delivered many of New South Wales' most complex and high-profile construction projects. The company operates across a wide range of sectors, including health, education, commercial, residential, hospitality, industrial, life sciences and defence. Since opening its Sydney office in 2024, Arada has announced AED 6 billion in planned Australian developments, including large-scale residential communities in Sydney's inner-west, south-west and Hills Shire. These projects will collectively deliver 2,500 homes. Sales and construction are expected to begin by Q4 of 2025. Launched in 2017 and headquartered in the UAE, Arada focuses on creating spaces that promote healthier, happier, and more meaningful lives. The company's portfolio spans property development, retail, education, and hospitality. Arada has launched several landmark projects in the UAE, including Aljada and Masaar, and expanded into Australia in 2024. In addition to its core developments, Arada operates a range of complementary brands, including gyms, retail spaces, and social initiatives.
