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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Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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