Fintech PR

Onwards and upwards: Sedus on course for sustained growth

Published

9 months ago

March 5, 2024

DOGERN, Germany, March 5, 2024 /PRNewswire/ — With sales of approximately €259.1 million, Sedus Stoll AG recorded year on year growth of 8.8% in 2023. This was well above the overall level of growth in its sector, which was up 0.6% compared to the previous year. At around €247.3 million, incoming orders for the year 2023 are also at a record level and are driving momentum for the business in 2024.

– Picture is available at AP –

“Sedus Stoll AG grew profitably last year,” explains Daniel Kittner, spokesman of the board of Sedus Stoll AG. “Our innovative and on-trend approach to product development means we are uniquely placed to meet changing customer demands for new ways of working. This is reflected in Sedus Stoll Group’s sales growth in 2023. Together with our network of dealers, we increasingly observe corporate cultures becoming more agile and adaptable in implementing change and major projects. We are responding to this. Our new products for 2024 not only reflect current workplace trends. They actively shape them.”

The introduction of the new Futura 2 manufacturing facility at the firm’s Geseke site in September 2023 has boosted its ability to meet peak workloads more quickly. The new automated panel cutting facility has reduced lead times and significantly accelerated a range of production processes. This means that the business is better placed to align its manufacturing capacity with the record sales growth of the past two years.

A clear goal: climate neutral by 2025

The Sedus administration and production facilities (Scope 1 & 2) in Dogern and Geseke will be climate neutral by 2025. “On our path to climate neutrality, we want to reduce our direct emissions by 30% by the end of 2025 and then a further 20% by 2030,” explains Kittner. “In addition, we have identified further milestones for Sedus by 2025: Sedus will reduce emissions from its fleet by 20%, and by rethinking our energy needs, the use of primary energy will be reduced by around 60%. We plan to optimise packaging by around 15% and around 80% of the wood we use for our furniture production will be sourced from sustainable forestry by 2025.”

You don’t just need to take the word of Sedus for it. These ambitions are endorsed by external bodies, with Sedus receiving a Gold sustainability accreditation from EcoVadis. This rating means that Sedus is one of the 5% of companies worldwide that have been recognised for their social, ethical and ecological policies in pursuit of meaningful corporate social responsibility.

Another certification is “SA8000” for social responsibility in the workplace. “We are proud that Sedus is one of only 14 companies in Germany to be certified with SA8000,” says Kittner. “With SA8000, we guarantee that a socially responsible management system is properly implemented, monitored and applied both at Sedus itself and throughout our supply chain.”

Sedus Press Office
Bernadette Trepte
Email: [email protected]
Phone: +49 (0) 7751 840

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Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

10 minutes ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

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Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

10 minutes ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

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View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

13 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.