Fintech PR
Facevalue Launches Pan European Online Factoring Solution For SMEs
Dutch FinTech Facevalue introduces a unique Accounts Receivable Finance solution for European SMEs that challenges traditional factoring. Facevalue offers complete flexibility to its clients to determine which receivables they want to sell and charge no fixed fees.
Most factoring solutions to SMEs require that the business sell all their outstanding accounts receivables to the Financier for a fixed period, usually two years that includes high fixed costs.
“The banking landscape has changed so much over the past decade that it has become a real challenge for most businesses to present their business case to lenders. There is often no one to receive their application, let alone understand the dynamics in their business and by the time the application is assessed, it is already dated. Facevalue has built a secure online platform that extracts invoice data, handle the mapping and conversion of data formats and lists all our clients’ outstanding accounts receivables in a ledger from where they can configure rules, or choose manually which receivables they would like to sell immediately and without recourse.” – Neels Bornman, Chief Executive of Facevalue.
Facevalue performs a pivotal role as a trusted market platform between businesses and investors. The company has developed the capability required to scale using advanced technology to address what is one of the biggest business finance opportunities in the world today. Accounts receivable finance is a vital tool for markets to recover. It is expected that the global transaction value will eclipse pre-pandemic levels and continue its meteoric rise and still it only accounts for an approximate 10% adoption.
Bornman: “The stop start economic recovery as markets open and governments try and manage the impact of further COVID-19 infections makes it incredibly hard for businesses to predict inventory and liquidity. We believe that businesses’ top priority will remain the protection of their available liquid resources. Adopting a flexible finance solution as part of a recovery and growth plan should be part of every business’s strategy during these uncertain times.”
According to the industry body FCI, accounts receivable finance has grown at an annual compounded growth rate of 7% over the last twenty years from €600 billion at the turn of the millennium to €2.7 trillion today. The market declined 7% worldwide during the pandemic, but the Netherlands still managed to grow by 1.4%. Europe accounts for 68% of worldwide accounts receivable finance dominated by France, Germany, UK, Italy and Spain that account for 70% of the European market. (Source: FCI Annual review 2021)
According to PWC’s recent working capital reports, there is more than €1.2 trillion excess working capital tied up in global balance sheets, which if addressed would lift overall return on invested capital to 8.8%. 14 out of 17 industry sectors analysed deteriorated in net working capital days over the last year. Industries that would benefit most from release of cash from revenue are Retail, Engineering & Construction, Healthcare, Technology and Automotive. (Source: PWC Working Capital report 2021)
Europe is also one of the hardest hit regions by the pandemic where revenue declined by 23%, inventory days increased by 15% and working capital performance deteriorated by 8 days. While companies improved their ability to generate cash from operations, profit margins are at a four year low and debt rose considerably as companies hoarded cash to weather the storm. (Source: PWC Restructuring and Recovery report 2020)
“Our research of European cross-sector mid-market corporates show that even before the pandemic, revenue was up year on year but even then companies struggled to convert revenue to cash. In addition capital expenditure as a percentage of revenue has continued to decline, which implies that companies are managing cash by not making capital investments. During the pandemic, revenue declined and is now only starting to recover. We predict that capital expense will remain a low priority while cash flow management becomes the number one priority,” commented Neels Bornman.
Many businesses are reluctant to utilise Accounts Receivable Finance solutions as part of their financial planning due to the comparatively high fixed costs it attracts. By removing the rigid nature and fixed costs, Facevalue delivers a solution that should form part of every business’s strategic planning regardless of its size. There is a direct correlation with the increase of an enterprise’s value and the effective management of its working capital.
Selling a receivable to Facevalue is as easy as emailing the invoice straight from an accounting system to a dedicated email address we create for each client. The platform uses a combination of optical character recognition (OCR) and artificial intelligence (AI) to convert a PDF invoice to a Peppol compliant structured electronic invoice. New clients can immediately sell their top priority receivables while Facevalue perform a detailed credit assessment whereafter a facility of up to €5 million can be approved for SMEs across the European Economic Area and the United Kingdom.
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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