Month: August 2024

August 8, 2024 SBM Offshore is pleased to announce that the EUR65 million (c. US$70 million) share repurchase program effective from March 1, 2024 (the “Structural Buyback”), has been increased by an additional amount of EUR65 million (c. US$71 million equivalent1) effective from August 8, 2024 (the “Incremental Buyback”). To date, share repurchases for an aggregate purchase price of EUR37.5 million have been completed under the Structural Buyback, representing approximately 58% completion of the program. The objective of the Structural Buyback is to reduce the Company’s share capital. All shares purchased will therefore be cancelled. The program is expected to be completed within 2024. The objective of the Incremental Buyback is to reduce share capital and, in addition, to provide shares for regular management and employee share programs. The...

August 8, 2024 SBM Offshore is pleased to announce that it has signed a contract with Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (“Woodside”), operator of the Trion deepwater oil field development located in the Perdido Belt of the western Gulf of Mexico. Under this contract, SBM Offshore will construct and thereafter lease to Woodside a Floating Storage and Offloading (“FSO”) unit for a period of 20 years. This award complements the Transportation & Installation contract for the FSO and the FPU awarded to SBM Offshore in 2023. The new build FSO, based on a Suezmax-type hull, will be equipped with a Disconnectable Turret Mooring (“DTM”) system designed by SBM Offshore. The FSO will be moored in water depth of about 2,500 meters and will be able to store around 950,000 barrels of crude oil. The Trion field is located...

KBC Group – overview (consolidated, IFRS) 2Q2024 1Q2024 2Q2023 1H2024 1H2023Net result (in millions of EUR) 925 506 966 1 431 1 848Basic earnings per share (in EUR) 2.25 1.18 2.29 3.44 4.37Breakdown of the net result by business unit (in millions of EUR)          Belgium 519 243 576 761 875Czech Republic 244 197 276 441 461International Markets 224 146 190 370 298Group Centre -61 -80 -76 -141 215Parent shareholders’ equity per share (in EUR, end of period) 53.2 54.9 51.2 53.2 51.2‘We recorded a net profit of 925 million euros in the second quarter of 2024. Compared to the result for the previous quarter, our total income benefited from several factors, including higher levels of net interest income, higher net fee and commission income, solid insurance revenues and better trading & fair value income,...

COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 6 months of 2024 was EUR 204 million and net profit was EUR 17.5 million. Second-quarter revenue was EUR 122 million; net profit, EUR 13.1 million. The lower volumes from real estate development have been compensated by higher sales of construction services, which made up nearly 90% of revenue in the first half-year. Considering general sentiment on the construction and real estate market, Merko Ehitus management were satisfied with second quarter and first half of 2024 results. According to the management of Merko Ehitus, group has managed well in the changed market situation. Profitability for the half-year has declined compared to last year due to the decrease in the share of the real estate development business. Orders are dramatically down in road construction. In the group at...

In the first half of 2024, the construction market has experienced increasingly intense competition. Public sector orders remain low, and the pre-construction process in the private sector continues to be very lengthy. Analysts’ forecasts for economic growth in the coming quarters are cautious, and the activities of private clients are in line with this outlook.Despite the challenging economic conditions, the Nordecon Group has improved three key financial indicators in the first half of this year – revenue, profit, and the volume of order book.The first half of 2024 for the Nordecon Group is primarily characterized by improved profitability. The Group’s gross profit margin was 6.3% (3.2% in H1 2023) and 7.4% in the second quarter (3.4% in Q2 2023). Profitability improved in both the Buildings and Infrastructure segments, aided...

Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through application of science, today publishes its results for the first half ending 30 June 2024. Key highlights first half 20241:Organic sales growth -0.7% (Q2: +1.4%):Volume/mix +3.6% (Q2: +5.5%) Price -4.3% (Q2: -4.1%)Continued Operations:Sales € 637.1 million (Q2: € 336.7 million) Adjusted EBITDA € 86.1 million (Q2: € 51.6 million) Adjusted EBITDA organic growth + 21.9% (Q2: 46.1%)   Operating profit € 33.6 million (Q2: € 22.0 million)Free Cash Flow € 336.5 million, € 12.7 million when excluding divestment proceeds Divestment of non-core US Emulsifier business completed on April 2nd Covenant net debt/covenant EBITDA at half year end was 2.2x Double digit growth in sales and Adjusted EBITDA in Health & Nutrition Positive volume/mix...

08 August 2024 PRESS RELEASE Ad hoc announcement pursuant to Art. 53 Listing Rules: GAM Holding AG announces first half 2024 results Strong progress on turnaround strategy implementation supported by significant financial commitment from anchor shareholder through fully underwritten rights issue. GAM targets to achieve profitability in fiscal year 2026. Financial Highlights for H1 2024AuM at CHF 19.0 billion compared to CHF 19.3 billion as at 31 December 2023. IFRS net loss of CHF 39.1 million compared to CHF 71.2 million for the first half of 2023. Underlying loss before tax of CHF 33.2 million compared to CHF 22.5 million for the first half of 2023. Cost optimisation initiatives across the business resulted in a 20% decrease in underlying expenses compared to first half of 2023. Strong investment performance with 79% of AuM* beating...

Lochem, 8 August 2024  ForFarmers results for the first half of 2024Like-for-like growth of volume and strong increase in profitability Pieter Wolleswinkel, CEO ForFarmers:“The positive trends of the first quarter have continued, with a significant increase in profitability in the second quarter as well. We strengthened our market positions in this first half of the year, resulting in a satisfactory volume development. The right product and market choices underpin this result and our local approach is valued by customers. The integration of Piast in Poland, acquired early this year, is well on track and we are satisfied with the performance. We are also pleased with the announcement of the intended acquisition of Van Triest Veevoeders, which specialises in co-products. We are convinced that this will enable us to play an increasingly important...