Fintech PR
Phoenix Contact plans an extensive investment program for medium to long-term growth
BLOMBERG, Germany, Dec. 18, 2023 /PRNewswire/ — During a press conference at the SPS automation trade fair in Nuremberg, Germany, Ulrich Leidecker, Chief Operating Officer of Phoenix Contact, spoke about the company’s economic development, which, after two years of above-average growth, has been characterized by a significant decline in incoming orders since the second quarter of 2023. It is currently forecast that Phoenix Contact will close the 2023 fiscal year with a fall in revenue of around two percent compared to the previous year and a total revenue of 3.5 billion euros. “If we consider our development from 2019, we have actually achieved an average growth of 9.1 percent year on year up to today. This shows that the current economic development is not a structural problem. Phoenix Contact’s products and solutions are used in particular for electrification and automation, which are areas in which investments will continue to be made in the future”. The decline in demand, driven by excessively high inventories at several points throughout the entire value chain, is affecting all regions of the world. This is particularly noticeable in Asia, whereas some European countries continue to record growth. The number of employees is increasing only very slightly, and remains just below 22,000.
Leidecker emphasized just how special 2023 is for Phoenix Contact, despite the onset of an economic downturn in the second half of the year. “We had the pleasure and privilege of celebrating our 100th anniversary with our employees and customers worldwide. We have achieved a great deal throughout these 100 years, and have remained true to the values and culture of our family business despite our growth and development”. The General Managers and shareholders used numerous events, family days, and staff parties as an opportunity to express their appreciation to our employees for their exceptional dedication and commitment, which has made it possible for the company to become what it is today. “We also highlighted and strengthened our partnerships with our customers by sharing special moments with them at events. After all, it is together with our customers and business partners that we are driving forward solutions for the energy revolution that form the basis for a sustainable world”. The focus was therefore also on global sustainability projects, which were implemented together with partners and the global subsidiaries in 2023.
Investments
In order to prepare Phoenix Contact for growth in the medium to long term, Phoenix Contact has planned an investment program of more than one billion euros over the next five years.
The first measures for the extension to the existing logistics building at the Blomberg location have already been launched. The fully automated building will provide 220,000 cubic meters of additional storage volume. In the future, it will also be possible to supply customers outside of Germany directly from here. At around 100 million euros, this represents the largest single investment in the company’s history. At the location in India, three new buildings with production, logistics, and office spaces, with a footprint of 70,000 square meters, are being built. The investments here amount to around 40 million euros. “With this expansion in capacity, Phoenix Contact is responding to the challenge of making global supply chains more resilient and minimizing dependencies on individual regions of the world”, explained Leidecker.
China is the fastest developing market for e-mobility with its own approaches to mobility. Phoenix Contact is therefore expanding its e-mobility production capacity with a new facility in Lishui, China. The foundation stone was laid at the end of June 2023. At this new production site, Phoenix Contact E-Mobility will develop and manufacture various charging cables for electric vehicles, which will be supplied to Chinese automobile and charging infrastructure manufacturers. The company relies on local-for-local sourcing, where the purchasing, production, and sales markets are located close to each other. The new building has a total footprint of around 26,000 square meters, of which 20,000 square meters is production and storage space and 6,000 square meters is office space.
Building 60 – sustainability and efficiency in industrial applications
With Building 60 at company headquarters, Phoenix Contact is setting new standards in terms of sustainability and efficiency. This investment is an example of the vision of an All Electric Society in which carbon-neutral electricity is the central energy source. The building is designed such that it will not only cover its own energy requirements with self-generated electrical energy, but will also have a positive energy balance during operation. The amount of energy generated will be greater than our own requirements.
Phoenix Contact’s investment in this production and technology center amounts to around 35 million euros. With 18,485 square meters of floor space for 400 workstations, the building illustrates the networking of the energy, mobility, infrastructure, and building sectors. The result is a tangible blueprint for scalable solutions that can be used to network entire districts in the spirit of an All Electric Society.
In the building, thermal energy is integrated into a heating network at the local level – using heat pumps and a 1,500 cubic meter ice storage system. The demand for heating, cooling, and the generation of waste heat from the processes is integrated in such a way that enthalpy exchange is possible. The first stage involves the use of battery storage systems, a photovoltaic system with an output of 1,100 kilowatt-peak, an open-field photovoltaic system with an output of 1,500 kilowatt-peak, and a partial DC power grid. Connected to this is a bidirectional charging infrastructure for e–mobility based on the premise of vehicle-to-grid. The installation of a DC power grid for industrial use is a deliberate strategic decision, as this will play a crucial role in driving the energy revolution forward – renewable energy sources, battery storage systems, and e-mobility are based on direct current and can thus be integrated more easily.
Sustainability: part of the corporate strategy
This October, Phoenix Contact published its first sustainability report. The report, which relates to 2022, is structured in accordance with the GRI standards and is based on the three cornerstones: Environmental, Social, and Governance. Those interested in reading the report can download it from the website.
In order to be able to show as precisely as possible what impact its products have on the environment, Phoenix Contact creates a Product Environmental Footprint (PEF) for each individual product. Up to 18 environmental indicators are taken into account for this, with the company focusing on the carbon value of its products. Other indicators, such as land use or water consumption, are also calculated when the data is available. The entire value chain is examined, from product design and the choice of raw materials, through the manufacturing process and distribution of the item, to the use and end-of-life phase of the products. By examining and calculating the PEF, conclusions can be drawn from the environmental indicators for internal processes. Based on this knowledge, Phoenix Contact is constantly improving its processes in order to reduce its environmental impact and conserve resources.
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, set out to make the community’s TOKEN2049 journey more rewarding. Gearing up for the most anticipated blockchain and Web3 event in the region, Bybit is thrilled to announce three bonus events to enable both attendees and remote fans to both be part of the experience.
The winning opportunities are open to both attendees of TOKEN2049 and followers from afar. Through trading and offline events, participants stand to get free tickets, a share of the $80,000 prize pool in airdrops and coupons, and Bybit merchandise.
Event 1: TOKEN2049 Treasure Express
From now to Sep. 26, 2024, Bybit users may register for the event and complete tasks by depositing and trading assets to earn lucky draw tickets. The wheel of fortune will turn to one of the three prizes:
1. A pair of tickets to TOKEN2049;
2. A share of the airdrop prize pool valued at $50,000 featuring the hottest tokens, including DOGS, PEPE, SOL, XRP, TON and USDT; or
3. Up to 50 USDT in spot coupons.
Even more rewards await in referrals and social media giveaways. For details, visit: TOKEN2049 Treasure Express
Event 2: Share and Unlock
From now to Sep. 30, 2024, unleash your social media magic for a chance to win a 10 USDT spot trading coupon. Share a Bybit blog link and your thoughts on Bybit and Web3. Remember to tag @Bybit_Official and use the hashtag #UnlockWeb3Future and submit the form with us here: #UnlockWeb3Future at TOKEN2049 with Bybit
Event 3: Meet us offline at TOKEN2049
Spot our logo at TOKEN2049 and capture a photo at the Bybit booth (M50) to win Bybit merchandise. Remember to share to your social media channels and use the right hashtag. For details, visit: #UnlockWeb3Future at TOKEN2049 with Bybit
An advocate for a sustainable Web3 ecosystem, Bybit will be featured prominently at TOKEN2049 on a series of keynote panels, thought leadership and community events, and booth M50.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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DUBAI, UAE, Sept. 6, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce it’s among the first to be granted consent to a full authorization by the Astana Financial Service Authority (AFSA). This milestone brings Bybit closer to becoming a fully regulated Digital Asset Trading Facility (DATF).
As part of a rigorous process, Bybit Kazakhstan has passed a full AML check, business conduct audit, and detailed compliance inspections. This is part of Bybit’s focus on securing new user opportunities in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
“Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market,” said Ben Zhou, co-founder and CEO of Bybit. “We are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”
Once the full license is in place, Bybit Kazakhstan will offer various digital assets related products and services. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
This development follows Bybit’s receipt of its initial operating and custody licenses from AFSA in June 2023, reinforcing its commitment to local regulatory requirements. Bybit’s ongoing efforts to strengthen its presence in Kazakhstan underscore its belief in responsible growth and ensuring a compliant and secure trading environment.
Kazakhstan has quickly emerged as a hub for crypto innovation, and Bybit is proud to play a leading role in fostering this development. For example, Bybit hosted a “Foundations of Blockchain, Web3 and Crypto Exchange Activities” course for Banks of Kazakhstan in 2024. This event was part of Bybit’s drive to make blockchain education more accessible in the CIS region.
By securing this full authorization, Bybit is poised to enhance crypto adoption, provide institutional-grade security, and offer advanced trading features to its growing regional user base.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-expands-global-reach-receives-formal-consent-for-full-authorization-in-kazakhstan-302240634.html
Fintech PR
Integrum ESG and CSRHub enable fund managers to monitor both long-term trends and short-term movements in ESG ratings for companies, across a 10-year time series
LONDON, Sept. 6, 2024 /PRNewswire/ — Integrum ESG, the leading alternative ESG data provider, has today announced the launch of their Consensus ESG Ratings module.
Just as investors monitor movements in consensus earnings estimates or credit ratings, investors now are aware of the demand for the ability to monitor long-term trends and short-term movements in consensus ESG ratings.
This new feature enables Integrum ESG’s asset manager clients to now see the consensus ESG score for any company, either as an absolute rating or a relative percentile ranking, across a 10-year time series.
These scores will indicate to any investor what the capital markets have ‘priced in’ for a company’s ESG performance, allowing users to quickly understand the market’s view on a company and easily conduct relative ESG analysis on the positions they hold within their Portfolio.
This regularly updated data is provided by CSRHub, the world’s leading provider of consensus ESG ratings. CSRHub has spent years aggregating and normalising a vast range of licensed sources – from large ESG ratings firms such as MSCI, ISS, S&P Global, and Sustainalytics to specialists such as CDP and Better World Companies.
Shai Hill, Founder and CEO of Integrum ESG, commented: “Many investors have told us they want a sense of ‘what is priced in’ in terms of a company’s ESG performance, so they can compare this to what anyone ESG ratings firm is saying. CSRHub is the only firm to have credibly achieved this, thanks to a model refined over years and a vast data lake – so we are delighted to be partnering with them.”
Bahar Gidwani, Co-Founder of CSRHub, added: “Investors need to fine tune their ESG-related investment strategies to improve their returns and better match the preferences of their clients. Combining CSRHub’s expert outside-in, consensus view of ESG with Integrum ESG’s detailed real-time data stream provides a strong solution for these needs.”
About Integrum ESG
Integrum ESG is the leading alternative ESG data and ratings platform for investors, blending human analysis and award-winning artificial intelligence models to capture, verify and display granular and relevant ESG data for analysis and assessment. Their Platform allows clients to dissect ESG scores, real-time sentiment, and more with a variety of unique-to-market features, empowering industry professionals and investors and giving them complete oversight of ESG risk across their portfolio.
For more information, visit www.integrumesg.com
About CSRHub
CSRHub offers the most comprehensive global set of Consensus ESG (Environmental, Social, and Governance) ratings, information, and tools. CSRHub’s business intelligence system measures the ESG business impact that drives corporate and investor sustainability decisions. Founded in 2007, CSRHub covers 56,545 public and private companies, and provides ESG performance scores on over 37,899 companies from 135 industries in 210 countries. Our Big Data platform uses algorithms to aggregate, normalize and weight ESG metrics from 957 sources to produce a strong consensus signal on corporate sustainability performance.
For more information, visit www.csrhub.com
Media Contact
Harish Karunalingam
Integrum ESG
[email protected]
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