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.
Photo – https://mma.prnewswire.com/media/2294490/Phoenix_Contact_Investment_Program.jpg
Logo – https://mma.prnewswire.com/media/1085170/Phoenix_Contact_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/phoenix-contact-plans-an-extensive-investment-program-for-medium-to-long-term-growth-302007774.html
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
The following files are available for download:
|
Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
|
|
https://news.cision.com/eqt/i/eqt-ab-group,c3285895 |
EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html
- 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.”
Photo – https://mma.prnewswire.com/media/2380039/Photo_1__2024_CEO_Investor_Day.jpg
PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/kia-presents-roadmap-to-lead-global-electrification-era-through-evs-hevs-and-pbvs-302109142.html
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
Logo – https://mma.prnewswire.com/media/1430981/BIOVAXYS_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html
-
Latest News6 days ago
China remains stabilizing force for global economic growth
-
Latest News4 days ago
Martello Re announces closing of $1.3 billion capital raise consisting of $935 million in equity and a $360 million upsize of the Company’s credit facility
-
Latest News5 days ago
Kylian Mbappé and Accor Forge Alliance to Empower Younger Generations
-
Latest News5 days ago
Market Dojo Celebrates Prestigious Inclusion in Ardent Partners 2024 Strategic Sourcing Technology Advisor
-
Latest News5 days ago
BioCatch completes best first half in company history, grows ARR by 43% YoY
-
Latest News2 days ago
Driving Innovation Forward: CFI Welcomes Seven-Time Formula 1™ World Champion Lewis Hamilton as new Global Brand Ambassador
-
Latest News5 days ago
COP28 President calls on all stakeholders to bring spirit of solidarity that delivered UAE Consensus to drive implementation and sustainable socio-economic development
-
Latest News4 days ago
TWSE Becomes the First Exchange to Receive ISO 14068-1 Carbon Neutrality Certificate