Latest news with #strategicplan
CBC
12 hours ago
- Business
- CBC
Victoria passes 1st hurdle to approve community safety and well-being plan
Social Sharing City councillors in Victoria have voted to endorse a 79-page plan that aims to address issues around public disorder and a "diminished sense of community safety and well-being." "[This plan] will set us off on a course of activity that I believe will change the experience of living in Victoria," Mayor Marianne Alto said at Monday's committee of the whole meeting. "This is a profoundly complex and comprehensive system change." Alto said voting on the plan was a "watershed moment" for councillors, adding that residents had clearly expressed their concerns about social disorder. The plan will need to be addressed at a regular council meeting for final approval. Dozens of recommendations Staff began to develop the plan in 2023 as part of the city's 2023-2026 strategic plan, under direction from council. The report said it was a result of 18 months of public engagement, data mining, debate and discussion. The plan includes more than 100 recommendations under eight main categories: Housing. Health care. Service delivery. Downtown. Residents. Commerce. Policing and justice. City's community safety and well-being services. Recommendations include creating more housing for people who are homeless, attracting more family doctors and piloting a universal basic income system. Other motions related to the plan include directing city staff to assess and identify the plan's budget implications and required policy changes, and directing the mayor to engage with city partners and other levels of government on the plan's components. Those motions also passed. Concerns about 'aspirational' scope The plan comes on the heels of a report from the Downtown Victoria Business Association that claimed hundreds of business owners would consider leaving the city's core if they weren't tied to their lease due in large part to issues with crime and social disorder related to drugs and mental health-related issues. In their remarks prior to voting on the city plan, several councillors noted that many of the recommendations fall outside the scope of the municipality's jurisdiction. Speaking with On The Island host Gregor Craigie earlier this week, Coun. Stephen Hammond said he generally endorsed the plan but was worried about the expectations it might set for residents. "The difficulty is that people are expecting us to do things in which the province and the feds have the ability to spend and go into debt for," Hammond said, referring to issues like housing, mental health and recruiting family physicians. "There's lots of good things that are aspirational. And then it's just a matter of, can we get the province and the federal government to go along?" Coun. Marg Gardiner, who voted against the motion to endorse the plan, specifically expressed concerns about the effects of drug and health policies from Island Health and the province "They are worse than a hurdle. They could scuttle the whole [plan]," Gardiner said at the meeting. "There is a misunderstanding of the root cause of disorder on our street. The root cause is drug addiction and the failure to provide rehabilitation." Gardiner said she didn't want to give false hope that the city and the safety plan would resolve those key issues. At the meeting, Alto acknowledged those concerns. She said what she and many municipal leaders across B.C. have said repeatedly — that the responsibility of many of the problems plaguing parts of Victoria lies with higher levels of government. Alto said the city intends to continue working with the province and the federal government on those issues, but it is time to set a precedent. "We cannot wait any longer, we have a responsibility to Victorians to take action." No quick fix Sandra Severs, president of the Downtown Victoria Residents Association and a member of the 10-person community leaders panel that helped shape the plan, said the recommendations may be lofty but they provide a roadmap to work from. "The solution to many of the problems that we're facing in the city are not simple problems to solve," she told All Point West guest host Liz McArthur. Severs said safety isn't just about crime and social disorder — it's also about things like access to a family physician and a definition of what it means to feel safe in the place where people live. Victoria's safety and wellness plan serves as an opportunity to offer solutions, Severs said, instead of just reacting to problems, and to provide leadership for other municipalities dealing with similar issues.
Yahoo
11-06-2025
- Business
- Yahoo
Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market
Ivry-sur-Seine, June 11, 2025, 7:00 AM CEST Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market Since 2021, Fnac Darty has successfully implemented its strategic plan Everyday to transition toward a more omnichannel, service-oriented and sustainable model These solid foundations will enable the Group to implement three complementary strategic pillars: Becoming the benchmark player in high-value-added products and accelerating the rollout of subscription-based home services with circularity at the core. Setting market standards for customer experience at all touchpoints. Applying the Group's expertise to the benefit of partners and in all geographical locations. Fnac Darty has set the following objectives for the 2025–2030 period: Nearly 4 million subscribers for all services combined by 2030. An operating margin over 3% by 2030. A cumulative free cash-flow from operations1 for 2025–2030 over €1.2 billion. A dividend policy revised upward: payout rate of at least 40% and a minimum dividend per share of €1 per year. With the Everyday plan, Fnac Darty has transformed itself by achieving extensive development of the subscription-based service model, by making sustainability a core part of its vision, by devising and launching new levers for growth, and, finally, by expanding its European footprint with the integration of Unieuro. Fnac Darty will build on the foundations laid by this profitable growth as it embarks upon a new stage of its development with the aim of consolidating its omnichannel and service-based model on a European scale. With Beyond everyday, Fnac Darty is continuing to innovate in the interests of its purpose, which is the cornerstone of all its initiatives: to enable its customers to make educated choices and guide them toward more sustainable consumption. Enrique Martinez, Chief Executive Officer of Fnac Darty, said: 'Building on the success of the plan Everyday, which is nearing its conclusion, I am very proud to be unveiling today our new plan Beyond everyday, which will sustainably strengthen our leadership in our markets and set new standards for a commerce that matters. This plan will allow us to expand and broaden our service model in Europe, with circularity at the core, to make ourselves the benchmark for customer experience at all touchpoints, to go beyond the traditional borders of retail by deploying our services on a large scale for third-party partners. We will rely on the extraordinary commitment of our teams, who work every day to ensure our mission is meaningful. Beyond everyday sets us on an ambitious course for 2030 to accelerate the deployment of our model with a commitment to generating positive impacts for our customers and partners, driving momentum across our entire industry, and promising sustainable value creation for our shareholders.' Becoming the benchmark player in high-value-added products, and accelerating the rollout of subscription-based home services with circularity at the core Fnac Darty aims to drive growth toward premium, innovative and sustainable products by extending their life spans through services, while maintaining its carbon footprint reduction commitments. This pillar is built on: Continuous optimization and renewal of the offering to gain market share and improve profitability by developing products and services adapted to new uses: beauty tech, entertainment, cultural exclusives, partnerships and licenses for games and leisure, etc. A significant breakthrough in subscription-based services. Moving beyond Darty Max's classic model, the objective is to reach approximately 4 million subscribers across all services by 2030 by expanding offerings, investing in new channels and markets, and diversifying – starting with a step into the energy sector – to make Fnac Darty a genuine assistant and partner for its customers in their everyday lives, homes and leisure activities. Strengthening of Fnac Darty's commitment to repairability. The objective is to increase the number of products repaired from 2.6 million to 3.5 million by 2030. Reiteration of the Company's ambitious carbon footprint reduction target. The Group is maintaining its target of a 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Setting market standards for customer experience at all touchpoints Fnac Darty aims to set new standards in terms of sales experience by seamlessly integrating the physical and digital worlds. The objective is to provide a seamless and personalized experience that is consistent across all customer touchpoints to boost retention and loyalty. The Group also aims to expand its customer base and consolidate its positions at the European level. This will involve: Reaffirming the position of stores at the core of the Fnac Darty model. This model will be reinforced by a plan to renovate over 200 stores and open 150 new stores during the timeframe of the plan. Geographic expansion and consolidation, by strengthening and stabilizing the number 1 and number 2 positions, maximizing customer contact points (offline and online), while expanding the addressable market with increased activity aimed at professionals' clients. Aiming to set new standards in terms of digital and social customer experience by making journeys increasingly fluid, intuitive and personalized, and by developing new concepts and new ways of interacting with customers. Investing in employee training. The internal academies, which have already trained several thousand employees, will offer new modules dedicated to AI, new product ranges and hybrid customer journeys. The objective is to equip teams with all the skills they need to master new tools and free up their time for high-value-added tasks, and to continue offering outstanding customer the Group's expertise to the benefit of partners and in all geographical locations Fnac Darty wants to accelerate the sale of services to businesses by leveraging on its unique marketplace and logistics expertise through customer relationship management solutions, while also harnessing its experience and the strength of its physical and digital network in retail media. Fnac Darty's aim is to monetize its expertise and its assets, which are among the best on the market, by putting them at the service of third-party players. As such, the aim is to: Accelerate the rollout of Weavenn, a company created with CEVA Logistics, dedicated to marketplace operations, to offer an increasingly efficient fulfillment experience, regardless of the vendor partner, and increase the number of Saas contracts. Increase focus on omnichannel Retail Media, with the target of representing 2% of total Group sales by 2030, by developing under-exploited and emerging segments, and extending this strategy throughout Europe. Consolidate Fnac Darty's position as a central player in the cultural ecosystem by offering high-value-added services for publishers, artists, booksellers and other players in the sector; by holding events on behalf of third parties; by supporting bookstore digitalization and operating commercial microsites on behalf of artists (Direct-to-fans). Broaden partnerships with third-party companies, such as in the insurance sector, where the Group is responsible for the management of repairs and replacement of damaged goods. These activities illustrate Fnac Darty's ability to harness its technical expertise and provide concrete solutions to its partners' sustainability challenges. Group objectives 2025-2030 In line with this vision, and assuming that no major changes occur as regards the macroeconomic, geopolitical and fiscal environment, Fnac Darty today announces its financial targets for the 2025–2030 period: The operating margin is expected to increase to at least 3% by 2030. The Group expects to generate cumulative operational free cash-flow2 of at least €1.2 billion over the period. With a level of debt that will remain under control in the long term and target leverage of 1.5x 3 in the medium term, Fnac Darty will pursue a capital allocation strategy that maximizes shareholder value. The Group will give priority to financing profitable organic growth, and to paying a dividend with a payout ratio of at least 40% and a minimum dividend of €1 per share per year. The Group may also carry out M&A transactions or pay a special dividend if results allow. The ambitious environmental and social objectives of the plan Everyday remain in place: 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Proportion of women in the leadership group (Top 200) of over 40% by 2030. With Beyond everyday, the Group is also expressing its commitment to value-sharing and wants its employee shareholders to represent 5% of its equity. KEY FIGURES 2030 Nearly 4 million subscribers for all services combined by 2030 (vs 1.9 million in February 2025). Contribution of services to the Group's gross margin up from 25% to 30%, and contribution of subscription-based services to B2C gross margin increased from >60% to >80%. Cumulative free cash-flow1 for 2025–2030 of >€1.2 bn. Operating margin >3% by 2030 (+100 basis points vs 2024PF). Average CapEx for 2025–2030 of approximately €200 million per year (vs ~€160 million in 2024PF). Improved shareholders' return policy: payout rate up from 30% to 40%, dividend-per-share floor of €1 per year. Target financial debt ratio kept at 1.5x2. 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030 compared with 2019. Feminization rate of the leadership group (Top 200) of over 40% by 2030. Employee shareholding: 5% of capital by 2030. Fnac Darty is holding its Investor Day 2025 today at 9:30 (Paris time). The presentation will be streamed live at this link. Later, you can listen to the recording on the website: press release contains certain forward-looking statements. Although Fnac Darty believes that its forecasts are based on reasonable assumptions, the actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company's Universal Registration Document ('Risk factors' section, the latest version of which is available at About Fnac Darty: Fnac Darty is a European leader in the omnichannel retail of consumer electronics and domestic appliances, culture and leisure products. Operating in 14 countries, it employs nearly 30,000 employees and has a multi-format network of more than 1,500 stores, with a strong web position and a growing number of subscribers to its services. Fnac Darty's revenue was over €10.5 billion in 2024 on the new perimeter including the Italian leader Unieuro. With its 2030 plan Beyond everyday, Fnac Darty is expanding its European footprint and deepening its shift towards a model focused on omnichannel, services, and circularity. For more information: CONTACTSANALYSTS/INVESTORSDomitille Vielle – Investor Relations Director – – +33 (0)6 03 86 05 02Laura Parisot – Investor Relations Manager – – +33 (0)6 64 74 27 18 PRESSBénédicte Debusschere – Media Relations and Influence Director – – +33 (0)6 48 56 70 71DEFINITIONS OF ALTERNATIVE PERFORMANCE INDICATORS Indicator name Indicator definition Free cash-flow from operations excluding IFRS 16 Free cash-flow from operations, including cash impacts relating to rent within the scope of application of IFRS 16. Free cash-flow from operations This financial indicator measures net cash-flow from operating activities and net cash-flow from operating investments (defined as acquisitions and disposals of property, plant and equipment and intangible assets, and the change in trade payables for non-current assets). The application of IFRS 16 significantly changes the Group's free cash-flow from operations. 2024 pro forma The pro-forma data comprises the sum of the Group's reported data (12 months Fnac Darty + 1-month Unieuro) and the Unieuro data from January to November 2024 (11 months) for the income statement only. Current operating income Fnac Darty uses the current operating income as the main operating balance. It is defined as the difference between the total operating income and the 'Other non-current operating income and expenses.'Current operating income is an intermediate line item intended to facilitate the understanding of the entity's operating performance that can be used as a way to estimate recurring performance. This indicator is presented in a manner that is consistent and stable over the long term in order to ensure the continuity and relevance of financial information. 1 Excluding IFRS 162 Net debt to EBITDA (IFRS 16) at the end of DecemberAttachment 20250611_Fnac Darty_Beyond everyday_EN_vDefError in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market
Ivry-sur-Seine, June 11, 2025, 7:00 AM CEST Fnac Darty unveils Beyond everyday, its 2030 strategic plan, to accelerate the rollout of its pioneering model on the European market Since 2021, Fnac Darty has successfully implemented its strategic plan Everyday to transition toward a more omnichannel, service-oriented and sustainable model These solid foundations will enable the Group to implement three complementary strategic pillars: Becoming the benchmark player in high-value-added products and accelerating the rollout of subscription-based home services with circularity at the core. Setting market standards for customer experience at all touchpoints. Applying the Group's expertise to the benefit of partners and in all geographical locations. Fnac Darty has set the following objectives for the 2025–2030 period: Nearly 4 million subscribers for all services combined by 2030. An operating margin over 3% by 2030. A cumulative free cash-flow from operations1 for 2025–2030 over €1.2 billion. A dividend policy revised upward: payout rate of at least 40% and a minimum dividend per share of €1 per year. With the Everyday plan, Fnac Darty has transformed itself by achieving extensive development of the subscription-based service model, by making sustainability a core part of its vision, by devising and launching new levers for growth, and, finally, by expanding its European footprint with the integration of Unieuro. Fnac Darty will build on the foundations laid by this profitable growth as it embarks upon a new stage of its development with the aim of consolidating its omnichannel and service-based model on a European scale. With Beyond everyday, Fnac Darty is continuing to innovate in the interests of its purpose, which is the cornerstone of all its initiatives: to enable its customers to make educated choices and guide them toward more sustainable consumption. Enrique Martinez, Chief Executive Officer of Fnac Darty, said: 'Building on the success of the plan Everyday, which is nearing its conclusion, I am very proud to be unveiling today our new plan Beyond everyday, which will sustainably strengthen our leadership in our markets and set new standards for a commerce that matters. This plan will allow us to expand and broaden our service model in Europe, with circularity at the core, to make ourselves the benchmark for customer experience at all touchpoints, to go beyond the traditional borders of retail by deploying our services on a large scale for third-party partners. We will rely on the extraordinary commitment of our teams, who work every day to ensure our mission is meaningful. Beyond everyday sets us on an ambitious course for 2030 to accelerate the deployment of our model with a commitment to generating positive impacts for our customers and partners, driving momentum across our entire industry, and promising sustainable value creation for our shareholders.' Becoming the benchmark player in high-value-added products, and accelerating the rollout of subscription-based home services with circularity at the core Fnac Darty aims to drive growth toward premium, innovative and sustainable products by extending their life spans through services, while maintaining its carbon footprint reduction commitments. This pillar is built on: Continuous optimization and renewal of the offering to gain market share and improve profitability by developing products and services adapted to new uses: beauty tech, entertainment, cultural exclusives, partnerships and licenses for games and leisure, etc. A significant breakthrough in subscription-based services. Moving beyond Darty Max's classic model, the objective is to reach approximately 4 million subscribers across all services by 2030 by expanding offerings, investing in new channels and markets, and diversifying – starting with a step into the energy sector – to make Fnac Darty a genuine assistant and partner for its customers in their everyday lives, homes and leisure activities. Strengthening of Fnac Darty's commitment to repairability. The objective is to increase the number of products repaired from 2.6 million to 3.5 million by 2030. Reiteration of the Company's ambitious carbon footprint reduction target. The Group is maintaining its target of a 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Setting market standards for customer experience at all touchpoints Fnac Darty aims to set new standards in terms of sales experience by seamlessly integrating the physical and digital worlds. The objective is to provide a seamless and personalized experience that is consistent across all customer touchpoints to boost retention and loyalty. The Group also aims to expand its customer base and consolidate its positions at the European level. This will involve: Reaffirming the position of stores at the core of the Fnac Darty model. This model will be reinforced by a plan to renovate over 200 stores and open 150 new stores during the timeframe of the plan. Geographic expansion and consolidation, by strengthening and stabilizing the number 1 and number 2 positions, maximizing customer contact points (offline and online), while expanding the addressable market with increased activity aimed at professionals' clients. Aiming to set new standards in terms of digital and social customer experience by making journeys increasingly fluid, intuitive and personalized, and by developing new concepts and new ways of interacting with customers. Investing in employee training. The internal academies, which have already trained several thousand employees, will offer new modules dedicated to AI, new product ranges and hybrid customer journeys. The objective is to equip teams with all the skills they need to master new tools and free up their time for high-value-added tasks, and to continue offering outstanding customer the Group's expertise to the benefit of partners and in all geographical locations Fnac Darty wants to accelerate the sale of services to businesses by leveraging on its unique marketplace and logistics expertise through customer relationship management solutions, while also harnessing its experience and the strength of its physical and digital network in retail media. Fnac Darty's aim is to monetize its expertise and its assets, which are among the best on the market, by putting them at the service of third-party players. As such, the aim is to: Accelerate the rollout of Weavenn, a company created with CEVA Logistics, dedicated to marketplace operations, to offer an increasingly efficient fulfillment experience, regardless of the vendor partner, and increase the number of Saas contracts. Increase focus on omnichannel Retail Media, with the target of representing 2% of total Group sales by 2030, by developing under-exploited and emerging segments, and extending this strategy throughout Europe. Consolidate Fnac Darty's position as a central player in the cultural ecosystem by offering high-value-added services for publishers, artists, booksellers and other players in the sector; by holding events on behalf of third parties; by supporting bookstore digitalization and operating commercial microsites on behalf of artists (Direct-to-fans). Broaden partnerships with third-party companies, such as in the insurance sector, where the Group is responsible for the management of repairs and replacement of damaged goods. These activities illustrate Fnac Darty's ability to harness its technical expertise and provide concrete solutions to its partners' sustainability challenges. Group objectives 2025-2030 In line with this vision, and assuming that no major changes occur as regards the macroeconomic, geopolitical and fiscal environment, Fnac Darty today announces its financial targets for the 2025–2030 period: The operating margin is expected to increase to at least 3% by 2030. The Group expects to generate cumulative operational free cash-flow2 of at least €1.2 billion over the period. With a level of debt that will remain under control in the long term and target leverage of 1.5x 3 in the medium term, Fnac Darty will pursue a capital allocation strategy that maximizes shareholder value. The Group will give priority to financing profitable organic growth, and to paying a dividend with a payout ratio of at least 40% and a minimum dividend of €1 per share per year. The Group may also carry out M&A transactions or pay a special dividend if results allow. The ambitious environmental and social objectives of the plan Everyday remain in place: 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030, compared to 2019. Proportion of women in the leadership group (Top 200) of over 40% by 2030. With Beyond everyday, the Group is also expressing its commitment to value-sharing and wants its employee shareholders to represent 5% of its equity. KEY FIGURES 2030 Nearly 4 million subscribers for all services combined by 2030 (vs 1.9 million in February 2025). Contribution of services to the Group's gross margin up from 25% to 30%, and contribution of subscription-based services to B2C gross margin increased from >60% to >80%. Cumulative free cash-flow1 for 2025–2030 of >€1.2 bn. Operating margin >3% by 2030 (+100 basis points vs 2024PF). Average CapEx for 2025–2030 of approximately €200 million per year (vs ~€160 million in 2024PF). Improved shareholders' return policy: payout rate up from 30% to 40%, dividend-per-share floor of €1 per year. Target financial debt ratio kept at 1.5x2. 50% reduction in direct CO₂ emissions (scopes 1 and 2) by 2030 compared with 2019. Feminization rate of the leadership group (Top 200) of over 40% by 2030. Employee shareholding: 5% of capital by 2030. Fnac Darty is holding its Investor Day 2025 today at 9:30 (Paris time). The presentation will be streamed live at this link. Later, you can listen to the recording on the website: press release contains certain forward-looking statements. Although Fnac Darty believes that its forecasts are based on reasonable assumptions, the actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company's Universal Registration Document ('Risk factors' section, the latest version of which is available at About Fnac Darty: Fnac Darty is a European leader in the omnichannel retail of consumer electronics and domestic appliances, culture and leisure products. Operating in 14 countries, it employs nearly 30,000 employees and has a multi-format network of more than 1,500 stores, with a strong web position and a growing number of subscribers to its services. Fnac Darty's revenue was over €10.5 billion in 2024 on the new perimeter including the Italian leader Unieuro. With its 2030 plan Beyond everyday, Fnac Darty is expanding its European footprint and deepening its shift towards a model focused on omnichannel, services, and circularity. For more information: CONTACTSANALYSTS/INVESTORSDomitille Vielle – Investor Relations Director – – +33 (0)6 03 86 05 02Laura Parisot – Investor Relations Manager – – +33 (0)6 64 74 27 18 PRESSBénédicte Debusschere – Media Relations and Influence Director – – +33 (0)6 48 56 70 71DEFINITIONS OF ALTERNATIVE PERFORMANCE INDICATORS Indicator name Indicator definition Free cash-flow from operations excluding IFRS 16 Free cash-flow from operations, including cash impacts relating to rent within the scope of application of IFRS 16. Free cash-flow from operations This financial indicator measures net cash-flow from operating activities and net cash-flow from operating investments (defined as acquisitions and disposals of property, plant and equipment and intangible assets, and the change in trade payables for non-current assets). The application of IFRS 16 significantly changes the Group's free cash-flow from operations. 2024 pro forma The pro-forma data comprises the sum of the Group's reported data (12 months Fnac Darty + 1-month Unieuro) and the Unieuro data from January to November 2024 (11 months) for the income statement only. Current operating income Fnac Darty uses the current operating income as the main operating balance. It is defined as the difference between the total operating income and the 'Other non-current operating income and expenses.'Current operating income is an intermediate line item intended to facilitate the understanding of the entity's operating performance that can be used as a way to estimate recurring performance. This indicator is presented in a manner that is consistent and stable over the long term in order to ensure the continuity and relevance of financial information. 1 Excluding IFRS 162 Net debt to EBITDA (IFRS 16) at the end of DecemberAttachment 20250611_Fnac Darty_Beyond everyday_EN_vDefError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malay Mail
26-05-2025
- Business
- Malay Mail
Miti: Shorter five-year Asean economic plan allows faster response to global shifts
KUALA LUMPUR, May 26 — The Asean Economic Community (AEC) Strategic Plan 2026-2030, which has a shorter cycle of five years rather than previous plans with cycles of 10 years, will enable timely review and updates of strategic measures so that integration efforts between member states remain relevant, agile and responsive to emerging and unforeseen future developments. 'As such, the AEC Strategic Plan from 2026-2030 adopts a five-year timeframe,' the Ministry of Investment, Trade and Industry (Miti) said in a document on the strategic plan. Although a 10-year timeframe provides a broader and long-term perspective for guiding Asean's economic integration, the implementation of the AEC Blueprint 2025 during the 2016-2025 period highlighted the need for greater flexibility and responsiveness amid fast-changing geopolitical shift and economic condition, the ministry said. 'A decade-long review cycle can limit the AEC's ability to recalibrate priorities in response to continuously evolving political and economic landscape,' it said in the frequently asked questions (FAQ) document released here. During a pre-media briefing earlier, Miti Minister Tengku Datuk Seri Zafrul Aziz described the economic blueprint as timely, highlighting three pertinent points, namely increasing intra-trade between member states, Asean openness extending beyond traditional trading partners and readiness of members towards reforms. While continuing the region's integration efforts, Miti said, the new plan introduces several notable enhancements that differentiate it from its predecessor, including consideration of megatrends, reframing regional economic integration, elevated role of micro, small and medium enterprises (MSMEs) as drivers of economic growth, and stronger emphasis on digital and technology transformation. 'The AEC Strategic Plan 2026-2030 reflects a heightened level of ambition in driving Asean's digital and technological transformation. It adopts a more integrated and strategic approach, treating digitalisation not as a standalone issue, but as a cross-cutting enabler of growth, competitiveness, and resilience across all sectors. 'The plan places strong emphasis on strengthening regional digital infrastructure, expanding digital connectivity, and fostering innovation as key drivers of Asean's future economy. This forward-looking agenda positions Asean to lead and compete effectively in an increasingly digital global landscape,' the ministry said. Furthermore, with negotiations on the Digital Economy Framework Agreement (DEFA) expected to be finalised by the year-end, it can be considered as a landmark agreement as it is the world's first regional digital economy agreement. As for MSMEs, Miti said that given their significant presence across Asean economies, the plan positions them not only as beneficiaries of integration, but also as active drivers of sectoral cooperation, innovation and the internationalisation of regional products and services. 'This marks a shift toward a more strategic and growth-oriented role for MSMEs in Asean's economic future,' Miti said. As for people of Asean, Miti said the plan would provide them with access to more competitive products and services that are affordable, accessible, high-quality and aligned with sustainability principles, supported by seamless and secure digital payments. 'They will enjoy broader employment opportunities across Asean member states, empowered to make well-informed choices as consumers with better access to accurate product information and stronger redress mechanisms to address issues with goods and services,' it said. The economic blueprint, adopted by Asean Leaders yesterday, is a comprehensive roadmap incorporating six strategic goals, 44 objectives and 192 strategic measures. It was developed through a comprehensive consultative process involving all AEC sectoral bodies and inputs from other Asean Community Pillars, and also derived from consultations with 315 stakeholders' representatives from businesses, academia, civil society, parliamentarians and more. A region-wide public survey involving 7,568 respondents from Asean member states and Timor-Leste was also conducted for this purpose. The strategic plan is one of four strategic plans under the broader Asean Community Vision 2045. — Bernama
National Post
15-05-2025
- Business
- National Post
Kontrol Technologies Announces First Quarter 2025 Financial Results
Article content TORONTO — Kontrol Technologies Corp. ( (OTCQB:KNRLF) (FSE:1K8) (' Kontrol Technologies' or 'Kontrol' or 'Company') announces its results for the three months ended March 31, 2025. A complete set of the Financial Statements and Management's Discussion & Analysis have been filed on SEDAR ( Article content Article content 'As of Q1 2025 we have streamlined the Company and reduced operating expenses to align with the sale of our emission assets and a focus on our core operating business,' says Paul Ghezzi, CEO Kontrol. 'Our 2025 strategic plan includes adding new customers to our existing platform of approximately 400 buildings both through organic growth and by acquisition. In Q1 2025 we experienced delays in certain project revenues due to the uncertainties in the market created by tariff policy which has impacted large equipment manufacturers. Customers have been hesitant to engage in new upgrade projects without tariff certainty. We anticipate ongoing uncertainty until the end of Q2 2025.' Article content Revenues for the three months ended March 31, 2025 were $1.5 million, compared to $3.8 million for the same quarter in the prior year. The comparative Q1 2024 figures includes CEM Specialties Inc. On June 24, 2024, the Company completed the sale of the operational net assets of this entity. Gross margin for the three months ended March 31, 2025 was 54%, compared to 62% for the same quarter in the prior year. Adjusted EBITDA for the three months ended March 31, 2025 was negative $(228,521) compared to $966,489 for the same quarter in the prior year. Net income (loss) for the three months ended March 31, 2025 was $(1.1) million compared to $533,487 for the same quarter in the prior year. The net loss is primarily related to the quarter over quarter revaluation of marketable securities and share based compensation. Under IFRS accounting policies the Company is required to take any quarter over quarter changes in its marketable securities as other income or loss on the income statement. The Company has eliminated all interest-bearing bank debt and has successfully achieved its financial objective to improve liquidity and leverage. As at March 31, 2025 the Company's aggregate cash and marketable securities balance was $11.2 million. Article content During the three months ended March 31, 2025, the Company repurchased 734,000 common shares for a total of $130,000. Pursuant to the Normal Course Issuer Bid approved by Cboe Canada, Kontrol may purchase, from time to time, over a period of 12 months starting April 14th, 2025, and ending April 13th, 2026, up to 2,757,858 common shares. Article content Q1 2025 Financial Summary Article content Financial Results Three months ended (Unaudited) March 31, 2025 March 31, 2024 Revenue $1,493,383 $3,786,234 Gross profit $807,804 $2,332,075 Net income (loss) $(1,145,833) $533,487 Basic and diluted EPS $(0.02) $0.01 Add/Deduct for Adjusted EBITDA reconciliation: Amortization and depreciation $156,052 $222,383 Finance expense (income) $(30,208) $158,662 Revaluation of marketable securities $742,995 – Share based compensation $48,473 $51,957 Adjusted EBITDA $(228,521) $966,489 Article content Adjusted EBITDA is a non-International Financial Reporting Standards ('IFRS') measure used by management that is not defined by IFRS. Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Management believes that Adjusted EBITDA provides meaningful and useful financial information as these measures demonstrate the operating performance of the business excluding non-cash charges. Article content 'Adjusted EBITDA' is calculated as net income or loss before interest, income taxes, amortization, and depreciation, share based compensation, acquisition related expenses, listing expense, gain or loss on sale of assets, revaluation and impairment of assets. Article content Readers are cautioned that Adjusted EBITDA should not be construed as an alternative to net income as determined under IFRS; nor as an indicator of financial performance as determined by IFRS; nor a calculation of cash flow from operating activities as determined under IFRS; nor as a measure of liquidity and cash flow under IFRS. The Company's method of calculating Adjusted EBITDA may differ from methods used by other companies and, accordingly, the Company's Adjusted EBITDA may not be comparable to similar measures used by any other company. Article content Kontrol Technologies Corp. Article content Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at and by reviewing its profile on SEDAR at Article content This news release contains 'forward-looking information' within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as 'may', 'will', 'expect', 'likely', 'should', 'would', 'plan', 'anticipate', 'intend', 'potential', 'proposed', 'estimate', 'believe' or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions 'may' or 'will' happen, or by discussions of strategy. Article content Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated. Article content However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company's product and service offering as expected; and government and regulatory factors impacting the energy conservation industry. Article content Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information. Article content Article content Article content Article content Article content Article content
