Latest news with #strategicplan
Argaam
23-07-2025
- Business
- Argaam
ARTEX sells subsidiary building for SAR 41.3M, expects SAR 38.7M in returns, cash flows
ARTEX Industrial Investment Co. signed a contract to sell a building, belonging to one of its subsidiaries, the National Spinning Co., the disposal of which will not affect the operational business of Lamina Limited, for a value of SAR 41.31 million, excluding fees and taxes, if any, and the assignment of the leased land on which it is located as part of the company's planned strategy. In a statement to Tadawul, the company said that the asset's book value is SAR 592,260, adding tht there are no preferential terms or conditions. According to the company, the financial statements for the last three years of the asset forming the subject matter of the transaction are as follow: In 2022, the amount is SAR 883,535, in 2023 (SAR 767,024), and in 2024 (SAR 650,515). The transaction aims at the implementation of the company's strategic plan and achieving returns through optimal utilization of unused assets. The transaction is expected to have a positive impact as follows: Achieving returns and cash flows of SAR 38.70 million. According to Argaam 's data, Artex signed, on May 7, a binding agreement worth SAR 41.31 million with Lamina Co. Ltd. to waive the lease contract of a land plot belonging to the Saudi Authority for Industrial Cities and Technology (MODON) in the Riyadh Second Industrial City, which was formerly used as a spinning factory site.
Wall Street Journal
23-07-2025
- Business
- Wall Street Journal
Lamb Weston Revenue Rises as Restructuring Underway
Lamb Weston Holdings LW 2.35%increase; green up pointing triangle plans to trim its workforce as part of a strategic plan to cut costs and improve its working capital. The French-fry maker on Wednesday said its cost-savings program is expected to deliver at least $250 million of annualized run-rate savings by the end of fiscal 2028. The cost savings include a workforce reduction of about 4%, which also reflects the elimination of certain unfilled positions, said the company.
CTV News
17-07-2025
- Health
- CTV News
Windsor Regional Hospital leaders reflect on transition as CEO search begins
Karen Riddell delivers her first report as acting CEO of Windsor Regional Hospital. July 18, 2024. (Travis Fortnum/CTV News Windsor) As Windsor Regional Hospital (WRH) launches its search for a new president and chief executive officer, hospital officials are sharing what they hope the next wave of leadership brings to the table. Karen Riddell, who has been serving as interim president and CEO since David Musyj accepted a temporary role at London Health Sciences Centre in May, will retire in March 2026. Riddell, who is also WRH's chief nursing executive, said both roles require leaders with deep clinical understanding and a commitment to frontline engagement. 'Really a real strong clinical leader with a really good understanding of frontline staff engagement and how to improve the patient experience moving forward,' said Riddell, in an interview with CTV News. 'We developed a new strategic plan this past year and we're really pushing that forward to ensure we're providing the best care possible.' Riddell emphasized the importance of hiring a CEO who not only understands the local landscape but also the broader provincial direction, especially as the region prepares for a long-awaited new acute care hospital. 'There's going to be a lot of work, not only on getting approval to build the hospital and then building it, but the transition of moving to the new site,' she said. 'We're going to need a really strong candidate that's going to be able to lead us into that future.' Riddell said she's optimistic strong candidates will step forward for both executive roles and is committed to supporting a smooth transition in partnership with Musyj. Musyj, who confirmed to the board Wednesday that he will not be returning to WRH, is currently serving as a supervisor in London. Despite his change in title and location, he said he remains a fierce supporter of the local hospital project when communicating with government officials. 'Luckily, they're on speed dial with me right now,' he said. 'So, when I'm talking about all things London, I also talk about the project with them and moving it forward.' Musyj said his current involvement in Windsor will continue at least until Riddell retires in December. After that, any ongoing role will be up to the new CEO. 'Regardless of that, I'll be the biggest advocate for the project with the government,' he said. Reflecting on how quickly the leadership landscape has shifted over the past year, Musyj said the turn of events was unexpected. 'If someone were to talk to me last May, at the start of May and said this is where we'd be right now, I would have lost a lot of money on that bet,' he said. 'But again, I'm honoured to be asked to help and Windsor Regional's in great hands with Karen and the rest of the team.' The hospital's board is expected to name Riddell's replacement before her departure.
CBC
20-06-2025
- Business
- CBC
Victoria passes 1st hurdle to approve community safety and well-being plan
Social Sharing City councillors in Victoria have voted to endorse a 79-page plan that aims to address issues around public disorder and a "diminished sense of community safety and well-being." "[This plan] will set us off on a course of activity that I believe will change the experience of living in Victoria," Mayor Marianne Alto said at Monday's committee of the whole meeting. "This is a profoundly complex and comprehensive system change." Alto said voting on the plan was a "watershed moment" for councillors, adding that residents had clearly expressed their concerns about social disorder. The plan will need to be addressed at a regular council meeting for final approval. Dozens of recommendations Staff began to develop the plan in 2023 as part of the city's 2023-2026 strategic plan, under direction from council. The report said it was a result of 18 months of public engagement, data mining, debate and discussion. The plan includes more than 100 recommendations under eight main categories: Housing. Health care. Service delivery. Downtown. Residents. Commerce. Policing and justice. City's community safety and well-being services. Recommendations include creating more housing for people who are homeless, attracting more family doctors and piloting a universal basic income system. Other motions related to the plan include directing city staff to assess and identify the plan's budget implications and required policy changes, and directing the mayor to engage with city partners and other levels of government on the plan's components. Those motions also passed. Concerns about 'aspirational' scope The plan comes on the heels of a report from the Downtown Victoria Business Association that claimed hundreds of business owners would consider leaving the city's core if they weren't tied to their lease due in large part to issues with crime and social disorder related to drugs and mental health-related issues. In their remarks prior to voting on the city plan, several councillors noted that many of the recommendations fall outside the scope of the municipality's jurisdiction. Speaking with On The Island host Gregor Craigie earlier this week, Coun. Stephen Hammond said he generally endorsed the plan but was worried about the expectations it might set for residents. "The difficulty is that people are expecting us to do things in which the province and the feds have the ability to spend and go into debt for," Hammond said, referring to issues like housing, mental health and recruiting family physicians. "There's lots of good things that are aspirational. And then it's just a matter of, can we get the province and the federal government to go along?" Coun. Marg Gardiner, who voted against the motion to endorse the plan, specifically expressed concerns about the effects of drug and health policies from Island Health and the province "They are worse than a hurdle. They could scuttle the whole [plan]," Gardiner said at the meeting. "There is a misunderstanding of the root cause of disorder on our street. The root cause is drug addiction and the failure to provide rehabilitation." Gardiner said she didn't want to give false hope that the city and the safety plan would resolve those key issues. At the meeting, Alto acknowledged those concerns. She said what she and many municipal leaders across B.C. have said repeatedly — that the responsibility of many of the problems plaguing parts of Victoria lies with higher levels of government. Alto said the city intends to continue working with the province and the federal government on those issues, but it is time to set a precedent. "We cannot wait any longer, we have a responsibility to Victorians to take action." No quick fix Sandra Severs, president of the Downtown Victoria Residents Association and a member of the 10-person community leaders panel that helped shape the plan, said the recommendations may be lofty but they provide a roadmap to work from. "The solution to many of the problems that we're facing in the city are not simple problems to solve," she told All Point West guest host Liz McArthur. Severs said safety isn't just about crime and social disorder — it's also about things like access to a family physician and a definition of what it means to feel safe in the place where people live. Victoria's safety and wellness plan serves as an opportunity to offer solutions, Severs said, instead of just reacting to problems, and to provide leadership for other municipalities dealing with similar issues.
Yahoo
11-06-2025
- Business
- Yahoo
Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market
Ivry-sur-Seine, June 11, 2025, 7:00 AM CEST Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market Since 2021, Fnac Darty has successfully implemented its strategic plan Everyday to transition toward a more omnichannel, service-oriented and sustainable model These solid foundations will enable the Group to implement three complementary strategic pillars: Becoming the benchmark player in high-value-added products and accelerating the rollout of subscription-based home services with circularity at the core. Setting market standards for customer experience at all touchpoints. Applying the Group's expertise to the benefit of partners and in all geographical locations. Fnac Darty has set the following objectives for the 2025–2030 period: Nearly 4 million subscribers for all services combined by 2030. An operating margin over 3% by 2030. A cumulative free cash-flow from operations1 for 2025–2030 over €1.2 billion. A dividend policy revised upward: payout rate of at least 40% and a minimum dividend per share of €1 per year. With the Everyday plan, Fnac Darty has transformed itself by achieving extensive development of the subscription-based service model, by making sustainability a core part of its vision, by devising and launching new levers for growth, and, finally, by expanding its European footprint with the integration of Unieuro. Fnac Darty will build on the foundations laid by this profitable growth as it embarks upon a new stage of its development with the aim of consolidating its omnichannel and service-based model on a European scale. With Beyond everyday, Fnac Darty is continuing to innovate in the interests of its purpose, which is the cornerstone of all its initiatives: to enable its customers to make educated choices and guide them toward more sustainable consumption. Enrique Martinez, Chief Executive Officer of Fnac Darty, said: 'Building on the success of the plan Everyday, which is nearing its conclusion, I am very proud to be unveiling today our new plan Beyond everyday, which will sustainably strengthen our leadership in our markets and set new standards for a commerce that matters. This plan will allow us to expand and broaden our service model in Europe, with circularity at the core, to make ourselves the benchmark for customer experience at all touchpoints, to go beyond the traditional borders of retail by deploying our services on a large scale for third-party partners. We will rely on the extraordinary commitment of our teams, who work every day to ensure our mission is meaningful. Beyond everyday sets us on an ambitious course for 2030 to accelerate the deployment of our model with a commitment to generating positive impacts for our customers and partners, driving momentum across our entire industry, and promising sustainable value creation for our shareholders.' Becoming the benchmark player in high-value-added products, and accelerating the rollout of subscription-based home services with circularity at the core Fnac Darty aims to drive growth toward premium, innovative and sustainable products by extending their life spans through services, while maintaining its carbon footprint reduction commitments. This pillar is built on: Continuous optimization and renewal of the offering to gain market share and improve profitability by developing products and services adapted to new uses: beauty tech, entertainment, cultural exclusives, partnerships and licenses for games and leisure, etc. A significant breakthrough in subscription-based services. Moving beyond Darty Max's classic model, the objective is to reach approximately 4 million subscribers across all services by 2030 by expanding offerings, investing in new channels and markets, and diversifying – starting with a step into the energy sector – to make Fnac Darty a genuine assistant and partner for its customers in their everyday lives, homes and leisure activities. Strengthening of Fnac Darty's commitment to repairability. The objective is to increase the number of products repaired from 2.6 million to 3.5 million by 2030. Reiteration of the Company's ambitious carbon footprint reduction target. The Group is maintaining its target of a 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Setting market standards for customer experience at all touchpoints Fnac Darty aims to set new standards in terms of sales experience by seamlessly integrating the physical and digital worlds. The objective is to provide a seamless and personalized experience that is consistent across all customer touchpoints to boost retention and loyalty. The Group also aims to expand its customer base and consolidate its positions at the European level. This will involve: Reaffirming the position of stores at the core of the Fnac Darty model. This model will be reinforced by a plan to renovate over 200 stores and open 150 new stores during the timeframe of the plan. Geographic expansion and consolidation, by strengthening and stabilizing the number 1 and number 2 positions, maximizing customer contact points (offline and online), while expanding the addressable market with increased activity aimed at professionals' clients. Aiming to set new standards in terms of digital and social customer experience by making journeys increasingly fluid, intuitive and personalized, and by developing new concepts and new ways of interacting with customers. Investing in employee training. The internal academies, which have already trained several thousand employees, will offer new modules dedicated to AI, new product ranges and hybrid customer journeys. The objective is to equip teams with all the skills they need to master new tools and free up their time for high-value-added tasks, and to continue offering outstanding customer the Group's expertise to the benefit of partners and in all geographical locations Fnac Darty wants to accelerate the sale of services to businesses by leveraging on its unique marketplace and logistics expertise through customer relationship management solutions, while also harnessing its experience and the strength of its physical and digital network in retail media. Fnac Darty's aim is to monetize its expertise and its assets, which are among the best on the market, by putting them at the service of third-party players. As such, the aim is to: Accelerate the rollout of Weavenn, a company created with CEVA Logistics, dedicated to marketplace operations, to offer an increasingly efficient fulfillment experience, regardless of the vendor partner, and increase the number of Saas contracts. Increase focus on omnichannel Retail Media, with the target of representing 2% of total Group sales by 2030, by developing under-exploited and emerging segments, and extending this strategy throughout Europe. Consolidate Fnac Darty's position as a central player in the cultural ecosystem by offering high-value-added services for publishers, artists, booksellers and other players in the sector; by holding events on behalf of third parties; by supporting bookstore digitalization and operating commercial microsites on behalf of artists (Direct-to-fans). Broaden partnerships with third-party companies, such as in the insurance sector, where the Group is responsible for the management of repairs and replacement of damaged goods. These activities illustrate Fnac Darty's ability to harness its technical expertise and provide concrete solutions to its partners' sustainability challenges. Group objectives 2025-2030 In line with this vision, and assuming that no major changes occur as regards the macroeconomic, geopolitical and fiscal environment, Fnac Darty today announces its financial targets for the 2025–2030 period: The operating margin is expected to increase to at least 3% by 2030. The Group expects to generate cumulative operational free cash-flow2 of at least €1.2 billion over the period. With a level of debt that will remain under control in the long term and target leverage of 1.5x 3 in the medium term, Fnac Darty will pursue a capital allocation strategy that maximizes shareholder value. The Group will give priority to financing profitable organic growth, and to paying a dividend with a payout ratio of at least 40% and a minimum dividend of €1 per share per year. The Group may also carry out M&A transactions or pay a special dividend if results allow. The ambitious environmental and social objectives of the plan Everyday remain in place: 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Proportion of women in the leadership group (Top 200) of over 40% by 2030. With Beyond everyday, the Group is also expressing its commitment to value-sharing and wants its employee shareholders to represent 5% of its equity. KEY FIGURES 2030 Nearly 4 million subscribers for all services combined by 2030 (vs 1.9 million in February 2025). Contribution of services to the Group's gross margin up from 25% to 30%, and contribution of subscription-based services to B2C gross margin increased from >60% to >80%. Cumulative free cash-flow1 for 2025–2030 of >€1.2 bn. Operating margin >3% by 2030 (+100 basis points vs 2024PF). Average CapEx for 2025–2030 of approximately €200 million per year (vs ~€160 million in 2024PF). Improved shareholders' return policy: payout rate up from 30% to 40%, dividend-per-share floor of €1 per year. Target financial debt ratio kept at 1.5x2. 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030 compared with 2019. Feminization rate of the leadership group (Top 200) of over 40% by 2030. Employee shareholding: 5% of capital by 2030. Fnac Darty is holding its Investor Day 2025 today at 9:30 (Paris time). The presentation will be streamed live at this link. Later, you can listen to the recording on the website: press release contains certain forward-looking statements. Although Fnac Darty believes that its forecasts are based on reasonable assumptions, the actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company's Universal Registration Document ('Risk factors' section, the latest version of which is available at About Fnac Darty: Fnac Darty is a European leader in the omnichannel retail of consumer electronics and domestic appliances, culture and leisure products. Operating in 14 countries, it employs nearly 30,000 employees and has a multi-format network of more than 1,500 stores, with a strong web position and a growing number of subscribers to its services. Fnac Darty's revenue was over €10.5 billion in 2024 on the new perimeter including the Italian leader Unieuro. With its 2030 plan Beyond everyday, Fnac Darty is expanding its European footprint and deepening its shift towards a model focused on omnichannel, services, and circularity. For more information: CONTACTSANALYSTS/INVESTORSDomitille Vielle – Investor Relations Director – – +33 (0)6 03 86 05 02Laura Parisot – Investor Relations Manager – – +33 (0)6 64 74 27 18 PRESSBénédicte Debusschere – Media Relations and Influence Director – – +33 (0)6 48 56 70 71DEFINITIONS OF ALTERNATIVE PERFORMANCE INDICATORS Indicator name Indicator definition Free cash-flow from operations excluding IFRS 16 Free cash-flow from operations, including cash impacts relating to rent within the scope of application of IFRS 16. Free cash-flow from operations This financial indicator measures net cash-flow from operating activities and net cash-flow from operating investments (defined as acquisitions and disposals of property, plant and equipment and intangible assets, and the change in trade payables for non-current assets). The application of IFRS 16 significantly changes the Group's free cash-flow from operations. 2024 pro forma The pro-forma data comprises the sum of the Group's reported data (12 months Fnac Darty + 1-month Unieuro) and the Unieuro data from January to November 2024 (11 months) for the income statement only. Current operating income Fnac Darty uses the current operating income as the main operating balance. It is defined as the difference between the total operating income and the 'Other non-current operating income and expenses.'Current operating income is an intermediate line item intended to facilitate the understanding of the entity's operating performance that can be used as a way to estimate recurring performance. This indicator is presented in a manner that is consistent and stable over the long term in order to ensure the continuity and relevance of financial information. 1 Excluding IFRS 162 Net debt to EBITDA (IFRS 16) at the end of DecemberAttachment 20250611_Fnac Darty_Beyond everyday_EN_vDefError in retrieving data Sign in to access your portfolio Error in retrieving data
