It’s a new historical series for your TV lineup.
It’s a new historical series for your TV lineup.
The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery. In raising its projection from January of 4.7% growth, the U.N.’s mid-2021 World Economic Situation and Prospects report pointed to the rapid vaccine rollout in a few large economies led by the U.S. and China and an increase in global trade in merchandise and manufactured goods that has already reached its pre-pandemic level. Lead author Hamid Rashid, chief of the Global Economic Monitoring Branch in the U.N. Department of Economic and Social Affairs, told a news conference that “Europe’s outlook is not as bright as we expected” because of signs of second and third waves of COVID-19 infections.
Press release Financial Report 1 April 2020–31 March 2021 Fourth quarter (1 January–31 March 2021) Revenue increased by 2 percent to MSEK 1,115 (1,090).EBITA increased by 28 percent to MSEK 73 (57) and the EBITA margin improved to 6.5 percent (5.2).Net profit rose by 43 percent to MSEK 43 (30) and earnings per share rose to SEK 1.60 (1.10). 12 months (1 April 2020–31 March 2021) Revenue increased by 6 percent to MSEK 4,311 (4,060).EBITA increased by 30 percent to MSEK 271 (208) and the EBITA margin improved to 6.3 percent (5.1).Net profit rose by 43 percent to MSEK 166 (116) and earnings per share rose to SEK 6.15 (4.30).Cash flow from operating activities increased to MSEK 383 (222).The Board proposes a dividend of SEK 3.00 per share (1.50). Significant events since the start of the operating year Magnus Söderlind started as President and CEO for Bergman & Beving AB on 1 May 2021. Seven acquisitions were completed, two of which after the end of the period, with total annual revenue of approximately MSEK 150.The COVID-19 pandemic had a variety of effects on operations and demand has varied between segments and regions. Demand for personal protective equipment remained strong, as did demand from construction customers. Demand from industrial customers continued to recover during the quarter. Charlotte Hansson was elected as a new Director at the Annual General Meeting on 26 August 2020.Alexander Wennergren Helm stepped down from his role as Director. CEO’s comments Bergman & Beving continued the positive performance during the fourth quarter. It became our best quarter to date as an independent company both in revenue, operating profit and earnings per share. Revenue increased by 5 percent in local currency, of which 2 percent was organic. Operating profit (EBITA) increased by 28 percent to MSEK 73 and the operating margin improved to 6.5 percent. The operations also delivered a good cash flow. The year as a whole became also a clear step in the right direction for Bergman & Beving. Revenue increased by 9 percent in local currency, of which 5 percent was organic. Operating profit (EBITA) increased by 30 percent to MSEK 271 and the operating margin improved to 6.3 percent. Cash flow from operating activities increased to MSEK 383, or SEK 14.40 per share. We are pleased that we delivered our highest revenue and operating profit to date as an independent company and a record-breaking cash flow. Demand in our main markets was mostly strong during the quarter, with a limited impact from the pandemic. During the year, demand has varied significantly between segments and regions. In general, demand was higher than in the preceding year and many of our units strengthened their market positions, both organically and through acquisitions. Our business areas have successfully handled both the challenges and the opportunities presented by the situation. Our decentralised model, with a large share of responsibility and decision-making taken on by the individual companies, has worked well. All our divisions, led by Building Materials, improved their earnings and operating margins during the quarter. Our largest product companies ESSVE, Guide, Arbesko, Cresto and Teng Tools, posted a positive performance, as did many of our smaller companies. For the full year, the Building Materials and Workplace Safety divisions delivered especially strong performances, with significant earnings improvements. The Tools & Consumables division was negatively affected during the beginning of the year and gradually improved after adjustments were made to adapt to the new market conditions and demand recovered. We increased our rate of acquisitions during the year and completed seven acquisitions. The majority will become new niche profit units, while the two smallest companies were acquired to supplement our proprietary products in currently existing focus areas. The intention is to complete additional value-generating acquisitions going forward and we are in ongoing discussions with several companies of interest. Magnus Söderlind is now taking over as President & CEO, while I will transition to my new role of Executive Vice President and Division Head, Building Materials. Together, we will continue to drive earnings improvements with clear objectives in our companies together with acquisitions of highly profitable companies with strong positions in market niches. After a successful year of progress, Bergman & Beving is a significantly stronger Group with excellent conditions in place to improve both our earnings and our operating margins and that is why I look to the future with great confidence. I would like to conclude by offering my sincere thanks to all our dedicated employees for your many outstanding efforts during the year and welcome our new employees to Bergman & Beving. Stockholm, May 2021 Pontus Boman For further information, please contact:Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00Peter Schön, CFO, Tel: +46 70 339 89 99 This information is information that Bergman & Beving AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 7:45 a.m. CET on 12 May 2021. Bergman & Beving owns and refines companies that develop and market strong brands for professional users in industry and construction, mainly in the Nordic region, the Baltic States and Poland. Bergman & Beving aims to enable successful product companies to take the next step and become leading brands in their categories. The Group currently has some 20 brands, about 1,100 employees and revenue of approximately SEK 4.5 billion. Bergman & Beving is listed on Nasdaq Stockholm. Read more on the company’s website: www.bergmanbeving.com. Attachment 20210512_Bergman_Beving_pressrelease_Bokslutskommuniké_eng
In Q1, the COVID-19 pandemic continued to impact the local communities and brands of Ahold Delhaize, resulting in approximately €150 million spent to support customers, associates and communities with COVID-19 relief care.On a two-year comparable sales growth basis**, comparable sales excluding gas in the U.S. increased 15.5% and in Europe were up 18.1% in Q1 2021, a sequential acceleration versus growth in Q4 2020 of 13.5% and 13.9%, respectively.Net sales were €18.3 billion, up 5.8% in Q1 at constant exchange rates. In the U.S. and Europe, comparable sales excluding gas grew 1.7% and 8.3% in Q1, respectively. Net consumer online sales sequentially accelerated to 103.3% in Q1 at constant exchange rates, including U.S. growth of 188.3% and 78.6% growth in Europe.Underlying operating margin was 4.6%; diluted underlying EPS was €0.54.IFRS-reported operating income was €828 million in Q1; IFRS-reported diluted EPS was €0.53. Raising 2021 underlying EPS and Group net consumer online sales outlook; expect underlying EPS to grow in the low- to mid-teen range versus 2019 and Group net consumer online sales to grow over 40% versus the prior year.**Two-year comparable sales growth is a stack of the comparable sales growth excluding gasoline in the current year period added to the comparable sales growth excluding gasoline in the prior year period. This measure may be helpful to improve the understanding of trends in periods that are affected by variations in prior year growth rates. Zaandam, the Netherlands, May 12, 2021 – Ahold Delhaize, one of the world’s largest food retail groups and a leader in both supermarkets and e-commerce, reports first quarter results today. The interim report for the first quarter 2021 can be viewed and downloaded at www.aholddelhaize.com. Summary of key financial data Ahold Delhaize Group The United States Europe € million, except per share data Q12021 % changeconstantrates Q12021 % changeconstantrates Q12021 % changeconstantrates Net sales 18,264 5.8 % 10,738 3.6 % 7,526 9.4 % Comparable sales growth excl. gas 4.2 % 1.7 % 8.3 % Online sales 1,981 103.9 % 855 188.3 % 1,126 66.9 % Net consumer online sales 2,679 103.3 % 855 188.3 % 1,824 78.6 % Operating income 828 (8.8) % 489 (28.0) % 363 22.3 % Operating margin 4.5 % (0.8) pts 4.6 % (2.0) pts 4.8 % 0.5 pts Underlying operating income 849 (6.1) % 517 (25.0) % 355 25.4 % Underlying operating margin 4.6 % (0.6) pts 4.8 % (1.8) pts 4.7 % 0.6 pts Diluted EPS 0.53 (5.9) % Diluted underlying EPS 0.54 (2.6) % Free cash flow 295 (74.5) % Comments from Frans Muller, President and CEO of Ahold Delhaize "As we pass the one-year mark of the COVID-19 pandemic, its effects continue to have an impact across our geographies. In Q1, our brands, together with our suppliers, remained focused on fulfilling their vital role in society by maintaining food and product supplies to local communities. In addition, our U.S. brands have supported vaccination efforts. I remain thankful for the efforts of associates across all our stores, distribution centers and support offices during these challenging times. Our consistent focus on safety, while at the same time providing great customer service and community support, have helped drive a strong quarter relative to our expectations. Although COVID-19 continues to impact our results, we have now entered a period where our year-over-year growth rates are affected by the lapping of difficult prior year comparisons. "That said, we begin 2021 in a strategically stronger position than before the COVID-19 pandemic began. We remain focused on making additional investments to meet associate, customer and community needs – including approximately €20 million pledged evenly between the U.S. and Europe for charitable donations this year, as well as continued support of health and safety measures, which remains a top priority to enable us to further strengthen our brands' positions as leading local omnichannel retailers. These investments in COVID-19-related care total approximately €150 million, more than double the €70 million incurred in the same quarter last year. "We are pleased with the underlying Q1 performance in both the U.S. and Europe. The two-year comparable sales stack sequentially accelerated in Q1 2021 versus Q4 2020 in both the U.S. and Europe, as we've been able to retain a strong level of underlying consumer demand by continuing to adapt to the enduring consumer behavior changes, including increased working from home, preference for healthy and fresh products, and higher online demand. Our brands were well positioned to satisfy the changing needs and preferences of their customers, many of which were trends already developing prior to COVID-19. As these trends accelerated during COVID-19, our brands have evolved more quickly to adapt. Growth in our leading local omnichannel platform also sequentially accelerated, with nearly 190% net consumer online sales growth in the U.S. and nearly 80% growth in Europe in the quarter, at constant exchange rates. Underlying operating margins were strong in the context of historical levels prior to COVID-19. While COVID-19 continues to create significant uncertainty in 2021, the outstanding Q1 results provide us with the confidence to raise our underlying EPS and Group net consumer online sales growth outlook for the year. "Investing in our business in order to solidify our position as an industry-leading local omnichannel retailer in 2021 and beyond remains a key priority. We continued to build upon several important initiatives to increase our share of the consumer wallet and improve online capabilities, including increasing our online capacity, driven in part by our recently opened U.S. click-and-collect locations; moving forward with the launch of Ship2Me in the U.S., an “endless aisle” offering of over 100,000 general merchandise and food items, in the second half of the year; and rolling out the no-fee home delivery service AH Compact to additional markets in the Netherlands. With increased capacity and strong momentum, we now expect Group net consumer online sales to grow by over 40% in 2021 versus 30% previously. This includes the raised expectations for over 70% growth in U.S. online sales, versus over 60% growth previously, and at least €5.5 billion in net consumer online sales at bol.com, versus at least €5 billion previously. "We also continue to make progress in elevating our Health and Sustainability strategy, and recently announced a new goal for all of our brands to achieve net-zero carbon emissions by 2050. In March, Albert Heijn was voted by consumers as the Netherlands' most sustainable supermarket chain in the Sustainable Brand Index 2021 ranking for the fifth consecutive year. The GIANT Company in the U.S. announced a new partnership with the Rodale Institute in February to develop solutions for the regenerative organic agriculture movement. We also successfully priced our inaugural sustainability-linked bond in March, amounting to €600 million with a term of nine years, linked to achieving targets in reducing food waste and scope 1 and 2 carbon emissions by 2025." Q1 Financial highlights Group highlights Group net sales were €18.3 billion, up 0.3% at actual exchange rates and up 5.8% at constant exchange rates, driven largely by 4.2% comparable sales growth excluding gasoline. Group comparable sales were positively impacted in part by demand related to COVID-19, particularly within Europe. To a lesser extent, comparable sales benefited by approximately 1.3 percentage points from favorable calendar shifts and a weather impact in 2021. On a two-year comparable sales stack basis, growth for the group sequentially accelerated to 16.4% in Q1 2021 versus 13.7% in Q4 2020. Group net consumer online sales grew 103.3% in Q1 at constant exchange rates, aided by the FreshDirect acquisition, which closed on January 5. Group underlying operating margin in Q1 was 4.6%, down 0.6 percentage points from the prior year at constant exchange rates, as margins lapped unusually high levels in the prior year due to COVID-19. Margins in 2020 benefited largely from the timing of unexpectedly higher sales that preceded the timing of significant costs related to COVID-19 in the U.S., an effect which did not recur this year. The group underlying operating margin in Q1 was therefore negatively impacted by COVID-19-related costs of approximately €150 million. Group IFRS-reported operating margin was 4.5% in Q1. Underlying income from continuing operations was €566 million, down 11.9% in the quarter. Ahold Delhaize's IFRS-reported net income in the quarter was €550 million. Diluted EPS was €0.53 and diluted underlying EPS was €0.54, down (8.4)% compared to last year's record Q1 results. Management believes that framing 2021 diluted underlying EPS growth relative to 2019 (prior to COVID-19) provides a helpful context for investors. Therefore, compared to Q1 2019, diluted underlying EPS in the quarter was up approximately 38%. In the quarter, 13.6 million own shares were purchased for €312 million. U.S. highlights U.S. comparable sales excluding gasoline grew 1.7%, positively impacted by demand related to COVID-19, particularly in January and February. To a lesser extent, comparable sales were also favorably impacted by approximately 1.7 percentage points from calendar shifts and a weather impact. This was offset, in part, by a decline in March's comparable sales, which were unfavorably impacted by the lapping of significant consumer stock-up activity related to COVID-19 in 2020, when comparable sales excluding gasoline grew 33.8%. On a two-year comparable sales stack basis for Q1 2021, growth was 15.5%, a sequential acceleration versus the 13.5% growth in Q4 2020. Brand performance was led by Food Lion. Online sales in the segment were up 188.3% in constant currency, driven in part by the aforementioned FreshDirect acquisition. Excluding the FreshDirect acquisition, the U.S. online sales growth rate in Q1 2021 sequentially accelerated to 135.2% growth versus the 128.5% growth Q4 2020. Underlying operating margin in the U.S. was 4.8%, down 1.8 percentage points from the prior year at constant exchange rates, as margins lapped unusually high levels in the prior year due to COVID-19. Margins in 2020 benefited largely from the timing of unexpectedly higher sales that preceded the timing of significant costs related to COVID-19, an effect which did not recur in Q1 2021. Europe highlights Europe's comparable sales excluding gasoline grew 8.3%, positively impacted by demand related to COVID-19, particularly in January and February. To a lesser extent, Q1 comparable sales were favorably impacted by approximately 0.5 percentage points from calendar shifts in 2021. Comparable sales remained positive in March despite the lapping of significant consumer stock-up activity related to COVID-19 in 2020, when comparable sales excluding gasoline grew 15.9%. On a two-year comparable sales stack basis for Q1 2021, growth was 18.1%, a sequential acceleration versus the 13.9% growth in Q4 2020. The strong growth was led by the brands in the Benelux and Czech Republic. Net consumer online sales in the segment were up 78.6% in Q1 2021, a sequential acceleration versus the 73.4% growth in Q4 2020. At bol.com, the online retail platform in the Benelux included within the Europe segment's results, net consumer sales grew by 76.6%, a sequential acceleration versus the 69.6% growth in Q4 2020. Bol.com's sales from third-party sellers grew 101% in the quarter, with nearly 45,000 merchant partners on the platform. Underlying operating margin in Europe was 4.7%, up 0.6 percentage points from the prior year at constant exchange rates. Margin expansion was driven by operating leverage from strong sales growth as a result of COVID-19. Outlook While COVID-19 continues to create significant uncertainty for the remainder of 2021, the strong Q1 results provide management the confidence to raise the underlying EPS growth outlook for the year. As a reminder, COVID-19, and to a lesser extent, a 53-week calendar, significantly distorted Ahold Delhaize's 2020 financial results. Lapping these effects will impact results in 2021, which returns to a 52-week calendar. In 2021, the underlying operating margin outlook of at least 4% is unchanged. This outlook reflects a balanced approach, with cost savings of over €750 million largely offsetting cost pressures related to COVID-19, that are expected to continue (albeit at a lower level than 2020), and the impact from increased online sales penetration. The underlying EPS guidance was raised and now expected to grow in the low- to mid-teen range relative to 2019 versus mid- to high-single-digit growth previously. Management believes that framing 2021 underlying EPS guidance relative to 2019, which was prior to COVID-19 and also on a 52-week calendar, provides a helpful context for investors. The free cash flow outlook is unchanged at approximately €1.6 billion. This puts the Company on track to reach €5.6 billion in cumulative free cash flow from 2019-2021 (averaging nearly €1.9 billion annually), which exceeds the Capital Markets Day 2018 target of €5.4 billion (averaging €1.8 billion annually). Capital expenditure is expected to be around €2.2 billion, and reflects the Company's higher investments in digital and omnichannel capabilities and for improvements related to recent M&A. In addition, Ahold Delhaize remains committed to its dividend policy and share buyback program in 2021, as previously stated. Full-year outlook Underlying operating margin1 Underlying EPS Save for Our Customers Capital expenditures Free cash flow2 Dividend payout ratio3, 4 Share buyback4 Updated outlook 2021 At least 4% Low- to mid-teen growth vs. 2019 > €750 million ~ €2.2 billion ~ €1.6 billion 40-50% year-over-year increase in dividend per share €1 billion Previous outlook 2021 At least 4% Mid- to high-single-digit growth vs. 2019 > €750 million ~ €2.2 billion ~ €1.6 billion 40-50% year-over-year increase in dividend per share €1 billion No significant impact to underlying operating margin from returning to a 52-week calendar versus a 53-week calendar in 2020, though the return to a 52-week calendar will negatively impact net sales for the full year by 1.5-2.0%. Comparable sales growth will be presented on a comparable 52-week basis. Excludes M&A.Calculated as a percentage of underlying income from continuing operations.Management remains committed to the share buyback and dividend program, but given the uncertainty caused by COVID-19, they will continue to monitor macroeconomic developments. The program is also subject to changes in corporate activities, such as material M&A activity. Attachments Ahold Delhaize Q1 2021 Interim report Ahold Delhaize Q1 2021 Press release
Kim Lopdrup provides industry expertise as Kalera prepares for international expansion and US listing of its sharesORLANDO, Fla., May 12, 2021 (GLOBE NEWSWIRE) -- Kalera (Euronext Growth Oslo ticker KAL, Bloomberg: KSLLF), one of the fastest-growing and largest vertical farming companies in the world and a leader in plant science for producing high-quality produce in controlled environments, today announced that Kim Lopdrup is appointed as new Chairman of Kalera as the company moves towards a US listing. Kim joined Kalera’s Board last year and remains CEO of Red Lobster. This announcement comes on the heels of the news of Kalera’s appointment of Sonny Perdue, former US Secretary of Agriculture, and Maria Sastre to the Board of Directors. Current Chairman, Bjorge Gretland, will continue as a board member in the company. Bjorge became Chairman of the company in 2013 when the company only had a handful of employees. Now, the company has become one of the fastest-growing and largest vertical farming companies in the world with truly pan-US coverage. “We couldn’t be more thrilled to have Kim, a proven titan in the food and restaurant industry, become Chairman of our Board,” said Bjorge Gretland, current Kalera Chairman. “His knowledge and expertise span from securing the highest quality, traceable and sustainable seafood for his vast network of restaurants to leading companies through global expansion. These are skills that are invaluable to Kalera at this time. As Kalera moves towards a US listing of its stock, Kim is extremely well suited to take on the Chairman role.” Kim Lopdrup has been the Chief Executive Officer of Red Lobster, the world’s largest seafood restaurant company, since 2014. Under his leadership, Red Lobster has greatly improved its food, service and technology. All of Red Lobster’s seafood is now traceable, sustainable and responsibly sourced. It has dramatically grown its off-premise sales by adding delivery and Rapid Red Curbside Pick-Up. Red Lobster was recently recognized by Forbes on its 2021 list of America’s Best Large Employers and by Newsweek on its 2021 list of America’s Best Loyalty Programs. Kim was previously President of Specialty Restaurant Group and New Business for Darden Restaurants, where he was responsible for The Capital Grille, Eddie V’s, Seasons 52, Yard House and Bahama Breeze as well as Darden’s international division, consumer packaged goods and M&A. He has also previously served as Chief Operating Officer, North America, for Burger King Corporation and as CEO of the International Division for Dunkin’ Donuts and Baskin-Robbins. “Kalera has a world-class management team and a disruptive technology that allows them to produce the highest-quality produce I have ever tasted in a way that is remarkably clean, sustainable and efficient. It is easy to see why customers get so excited once they try Kalera’s products or tour one of Kalera’s farms,” said Kim Lopdrup. “I am passionate about great food, food safety, nutrition, sustainability, innovation and international growth. Kalera is positioned to excel in all of these areas. I look forward to working with Daniel Malechuk, Kalera’s outstanding CEO, to make the most of these exciting opportunities.” Kim serves on the boards of Wawa, Inc. (since 2006); Red Lobster (since 2014); Bob Evans Restaurants (since 2017) and Kalera (since 2020). He previously served on the boards of Rubio’s Restaurants (including during its IPO), 31 Ice Cream (a Japanese public company) and Hiram Walker & Sons, Ltd. (a Canadian company). He also served on the board of Boys & Girls Clubs of Central Florida for 12 years, being named Board Member of the Year in 2011 and receiving National Service to Youth awards in 2010 and 2015. He is currently co-chair of Project Opioid. Orlando Business Journal named Kim a “CEO of the Year” in 2016. He holds a BBA from The College of William & Mary and an MBA with Distinction from Harvard Business School, where he won the Uhlmann Prize for best agribusiness research in 1984. The appointment of Kim Lopdrup as Chairman of Kalera’s Board of Directors will be presented for approval by Kalera’s shareholders at a general meeting. For further information: Bjørge Gretland, ChairmanEmail: firstname.lastname@example.org About Kalera Kalera is a technology driven vertical farming company with unique growing methods combining optimized nutrients and light recipes, precise environmental controls, and clean room standards to produce safe, highly nutritious, pesticide-free, non-GMO vegetables with consistent high quality and longer shelf life year-round. The company’s high-yield, automated, data-driven hydroponic production facilities have been designed for rapid rollout with industry-leading payback times to grow vegetables faster, cleaner, at a lower cost, and with less environmental impact. To learn more visit www.Kalera.com. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
PRESS RELEASE MAISONS DU MONDE FIRST QUARTER 2021: OMNICHANNEL MODEL AND DIFFERENTIATED OFFERING DELIVEROUTSTANDING SALES GROWTH NANTES – 12 May 2021, 07:45 CEST – Maisons du Monde (Euronext Paris: MDM; ISIN: FR0013153541), a European leader in affordable and inspirational household decoration and furniture, today announces its first-quarter 2021 sales. First quarter sales: €331 million: +35.8%1 (+36.6% LFL) Record online sales growth: +76%Very strong store sales growth: +19% Sales well above pre-pandemic levels: +18.1% (+11.9% LFL) vs Q1 2019 Despite uncertain environment, FY guidance fully confirmed Julie Walbaum, Chief Executive Officer, declared: “Maisons du Monde turned in an outstanding performance in the first quarter, providing another clear demonstration of the attractiveness of our brand and strength of our omnichannel model. Sales growth was driven both by an excellent performance by stores that remained opened and record online activity. The latter’s 76% growth was achieved thanks to the success of our own collections and by the continuing promising ramp-up of our selective marketplace. Given this momentum, the Group currently expects to post a solid Q2. At the same time, the H2 environment remains uncertain, given the potential impact of the ongoing pandemic on store activity and supply chain, notably in India. Despite this lack of visibility, our distinctive model and proven ability to execute our strategic priorities allow us to fully confirm our full-year guidance.” First-Quarter 2021 Activity Sales The Group’s first-quarter 2021 sales totaled €331 million, representing an outstanding increase of 35.8% (+36.6% LFL). Growth was driven by the success of collections and high consumer demand for homewares. This performance was aided by a slightly favorable comparable base as sales dropped sharply as of mid-March 2020 due to the initial round of Covid-19 related store closures. 1st quarter 2021 sales were also well above their pre-pandemic level, up 18.1% (+11.9% LFL) versus Q1 2019, reflecting the attractiveness of our sharpened in-house collections and the effectiveness of our increasingly digital model, as well as the expanded store network (+17 stores). By geography, sales in France in Q1 21 rose 42.3% to €181 million while international sales increased 28.6% to €149 million. By product line, decoration sales rose 39.3% and represented 53% of total 1st quarter sales. Furniture sales improved to €155 million, up +32.0% yoy, thanks in large part to the success of our outdoor and sofa offers. Sales of the Maisons du Monde banner rose 36.4% (+36.4% LFL) to €316 million. Modani’s sales of €13.7 million increased 21.6% while Rhinov commissions doubled to €1.2 million. Online sales Online sales leapt by 76.2% (+71.3% vs Q1 2019) to €124 million, representing a record high 37% of total Group sales. This was driven by increasing market share in the fast-growing online market in France, as a combined result of higher traffic and increased conversion rate. Our selective marketplace continues to ramp up and exceed our initial expectations. Sales were also particularly dynamic in Belgium, Germany and Switzerland. Store Sales Total 1st quarter store sales increased by 19.4% although part of the network (c. 15% on average vs c. 20% in Q1 2020) was closed throughout the quarter. 1st quarter French store sales increased by 31%, benefitting from a higher average number of stores open during the quarter (87% in Q1 2021 vs 81% in Q1 2020) and a favorable market dynamic in March, notably on furniture. International sales rose only 6% as all German stores were closed during the quarter, most Swiss stores were closed in January and February, while Belgian and Italian stores gradually closed throughout March. Store Network At 31 March 2021, Maisons du Monde’s global store network stood at 366 stores, compared to 371 at 31 March 2020 and 349 at 31 March 2019. During the 1st quarter of 2021, Maisons du Monde opened its first store in Austria, opened 2 stores in Spain, and one store each in Belgium and Switzerland. During the same period, the Group closed 3 stores in Spain and 5 in France. Total commercial space stayed broadly stable at 433,400 square meters at 31 March 2021. Q1 2021 operational milestones Launch of our 2021 furniture collections, as well as the 2021 Spring/Summer decoration collectionsContinuing ramp-up of our selective marketplaceOpening of our second “Maisons du Monde Hôtel & Suites” in MarseilleBeginning of construction of the new distribution center in northern France. 2021 commercial priorities, current activity and outlook Commercial and operational priorities For the remainder of 2021, the Group’s commercial and operational priorities, while maintaining cost and cash management discipline, are to: Keep strengthening our offering Reinforce our brand proposition and customer proximitySelectively rebuild inventories while proactively managing sourcing constraintsSustain our efforts towards environmental and social responsibilityFurther enhance our omnichannel proposition by preparing for the 2022 launch of our marketplace in the French store network and a second online market. Outlook From 1 April to 11 May 2021, about three-quarters of the European store network, including all stores in France, Belgium and Germany, were closed to the public. All stores, with the exception of those in Germany, are expected to be at least partially open by the end of next week. Q2 online order intake continues to increase, albeit at a lower rate than Q1 due to high comparable base. As a result, the Group currently expects to post a solid Q2. As the global sanitary situation remains uncertain, both in our operating and sourcing countries such as India, visibility on 2nd half activity remains limited. As a result, the Group fully confirms the 2021 guidance provided on 10 March 2021: high single-digit top line growth yoy, with a broadly unchanged number of stores at year-endan improved EBIT margin, increasing by up to 50 basis points vs 2020free cash flow above its 2020 level. Disclaimer: Forward Looking Statement This press release contains certain statements that constitute "forward-looking statements," including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward- looking statements. Accordingly, no representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Any forward-looking statements included in this press release speak only as of the date hereof and will not give rise to updates or revision. For a more complete list and description of such risks and uncertainties, refer to Maisons du Monde’s filings with the French Autorité des marchés financiers. ***About Maisons du Monde Maisons du Monde is a creator of inspirational lifestyle universes in the homeware industry, offering distinctive and affordable decoration and furniture collections that showcase multiple styles. The Group develops its business through a complementary omnichannel approach, leveraging its international network of stores, websites and catalogues. The Group was founded in France in 1996 and has expanded profitably across Europe since 2003, reporting sales of €1,182 million and EBITDA of €241 million in 2020. At 31 December 2020, the Group operated 369 stores in 9 countries including France, Belgium, Germany, Italy, Luxembourg, Portugal, Spain, Switzerland and the United States, and derived 47% of its sales outside France. The Group has also built a successful complementary and comprehensive ecommerce platform, whose sales grew by over 30% per year on average between 2010 and 2020. This platform, enriched by the launch of a marketplace in France in November 2020, accounted for 33% of the Group's sales in 2020 and is available in the countries where it operates stores plus Austria, the Netherlands and the United Kingdom. corporate.maisonsdumonde.com ***Financial calendar2 4 June 2021 Annual General Meeting 28 July 2021 1st Half 2021 financial results 27 October 2021 3rd Quarter 2021 sales *** Contacts Investor Relations Press Relations Christopher Welton – +33 7 85 70 71 41 Clémentine Prat – +33 6 08 61 81 12 email@example.com firstname.lastname@example.org Summary of 1st quarter sales (in € million) 1Q21 1Q20 %Change Sales3 330.9 243.7 +35.8% % like-for-like change4 +36.6% -18.8% Maisons du Monde 316.1 231.7 +36.4% % like-for-like change +36.4% -19.3% Modani 13.7 11.3 +21.6% Rhinov 1.1 0.6 +64.1% Sales by distribution channel Stores 207.3 173.5 +19.4% % of sales 62.6% 71.2% Online 123.7 70.2 +76.2% % of sales 37.4% 28.8% Sales by geography France 181.5 127.5 +42.3% % of sales 54.8% 52.3% International 149.5 116.2 +28.6% % of sales 45.2% 47.7% Sales by product category Decoration 175.5 126.0 +39.3% % of sales 53.0% 51.7% Furniture 154.4 117.7 +32.0% % of sales 47.0% 48.3% Historical sales5 (In €m) FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 Q2 20 Q3 20 Q4 20 FY 20 Q1 21 Sales 1,111.2 280.3 283.7 283.7 377.8 1,225.4 243.7 245.2 321.3 371.9 1,182.1 330.9 Change vs. N-1 +7.4% +9.9% +12.6% +9.2% +9.7% +10.3% -13.1% -13.6% +13.3% -1.5% -3.5% +35.8% LFL Change vs. N-1 +3.1% +2.4% +6.5% +3.0% +2.8% +3.6% -8.3% -16.2% +9.8% -2.2% -6.6% +36.6% Maisons du Monde 1,085.4 271.4 272.4 271.3 365.8 1,181.4 231.7 236.2 308.8 356.1 1,132.2 316.1 Change vs. N-1 +7.4% +6.4% +10.7% +8.0% +9.8% +8.8% -14.6% -13.3% +13.8% -2.3% -4.0% +36.4% LFL Change vs. N-1 +3.1% +2.4% +6.5% +3.0% +2.8% +3.6% -19.3% -15.3% +10.6% -2.6% -6.5% +36.4% Modani 25.9 8.9 11.4 11.9 11.9 44.1 11.3 8.4 11.7 14.9 46.3 13.7 Rhinov - - - 0.5 0.6 1.2 0.7 0.6 0.8 1.0 3.0 1.1 Sales breakdown France 58.3% 55.8% 53.3% 53.4% 56.6% 54.9% 52.3% 50.8% 52.8% 55.4% 53.1% 54.8% International 41.7% 44.2% 46.7% 46.6% 43.4% 45.1% 47.7% 49.2% 47.2% 44.6% 46.9% 45.2% Stores 77.3% 74.2% 73.0% 74.3% 78.7% 75.3% 71.2% 52.7% 71.8% 69.4% 67.0% 62.6% Online 22.7% 25.8% 27.0% 25.7% 21.3% 24.7% 28.8% 47.3% 28.2% 30.6% 33.0% 37.4% Decoration 55.7% 53.2% 48.1% 50.7% 61.6% 54.0% 51.7% 45.3% 55.8% 62.4% 54.9% 53.0% Furniture 44.3% 46.8% 51.9% 49.3% 38.4% 46.0% 48.3% 54.7% 44.2% 37.6% 45.1% 47.0% *** Store network6 (In units) Number of stores at end of: FY 18 Q1 19 Q2 19 Q3 19 Q4 19 FY 19 Q1 20 2Q 20 Q3 20 Q4 20 FY 20 Q1 21 France 221 221 224 227 233 233 228 227 227 228 228 223 Italy 45 45 47 48 48 48 48 48 48 49 49 49 Spain 23 23 24 24 27 27 27 27 27 27 27 26 Belgium 22 21 21 22 24 24 23 23 23 24 24 25 Germany 10 10 10 10 11 11 11 10 10 11 11 11 Switzerland 7 7 8 8 9 9 9 9 9 9 9 10 Luxembourg 3 3 3 3 3 3 3 3 3 3 3 3 Portugal - - 1 1 1 1 1 1 1 1 1 1 Austria - - - - - - - - - - - 1 United Kingdom 4 4 4 4 - - - - - - - - United States (MDM) 1 1 1 1 2 2 2 - - - - - United States (Modani) 13 14 15 16 18 18 19 18 18 17 17 17 Number of stores 349 349 358 364 376 376 371 366 366 369 369 366 Net openings +25 0 +9 +6 +12 +27 -5 -5 0 +3 -7 -3 Sales area (K sqm) 398.4 398.6 408.1 416.7 432.3 432.3 431.3 428.5 429.1 434.6 434.6 433.4 Change (K sqm) +35.2 +0.2 +9.5 +8.6 +15.6 +33.9 -1.0 -2.8 +0.6 +5.5 +2.3 -1.2 Maisons du Monde First-Quarter 2021 ActivityConference Call and Webcast connection details Wednesday, 12 May 2021 at 09:00 CEST Conference Call Join-In details http://emea.directeventreg.com/registration/5560954 Replay Dial-In NumbersAvailable from 12/05/2021 15:00 CEST until 19/05/2021 15:00 CEST Confirmation Code: 5560954 Standard International +44 (0) 333 3009785 Toll-Free: Local Dial: United States +1 (866) 331-1332 France +33 (0)1 70 95 03 48United Kingdom +44 (0) 844 5718951United States +1 (917) 677-7532 Webcast Player URL: https://edge.media-server.com/mmc/p/526tfoc8 1 All percentages in this release are year on year comparisons with the exception of the EBIT margin and percentages of sales in the table on Page 5.2 Indicative timetable.3 Defined as merchandise sales, marketplace commissions, service revenue and commissions less franchise and promotional sales (€1.3 mn in 1Q21, €0.8 mn in 1Q20 and €1.5 mn in 1Q19). 4 Represents the percentage change in sales from the Group’s retail stores, websites and B2B activities, net of product returns between one financial period (Y) and the comparable preceding financial period (Y-1), excluding changes in sales attributable to stores that opened or were closed during either of the comparable periods. Sales attributable to stores that closed temporarily for refurbishment during any of the periods are included. 5 At prevailing exchange rates.6 Excluding franchise stores. Attachment 2021 05 12 1Q21 Activity ENG vDEF
India said on Wednesday a record number of people were killed by the coronavirus in the past 24 hours, pushing its overall death toll over a quarter million. Scores of bodies are washing up on the banks of the Ganges and volunteers are collecting the unclaimed ashes of the dead to eventually scatter in the Ganges as Indians fail to keep pace with the deaths and cremations of around 4,000 people a day from the novel coronavirus. Brazil's federal government on Tuesday nationally suspended the vaccination of pregnant women with the AstraZeneca COVID-19 shot, after an expectant mother in Rio de Janeiro died from a stroke possibly related to the inoculation.
Rockets streamed out of Gaza and Israel pounded the territory with airstrikes early Wednesday as the most severe outbreak of violence since the 2014 war took on many hallmarks of that devastating 50-day conflict, with no endgame in sight. Gaza's Hamas rulers and other militant groups have fired barrages of hundreds of rockets that at times have overwhelmed Israel's missile defenses, causing air raid sirens and explosions to echo across Tel Aviv, Israel's biggest metropolitan area, and other cities. Israeli airstrikes have leveled multistory buildings across the Gaza Strip, where 2 million Palestinians have lived under a crippling Israeli-Egyptian blockade since Hamas took power in 2007.
Stocks across Asia have been influenced by Wall Street losses. More U.S. inflation were due out Wednesday. Investor concern is increasing following a price rise for industrial materials including copper and crude oil.
Reports of fuel shortages across the U.S. emerged on Tuesday as the national average for gasoline prices soared to its highest level since 2014 amid a key fuel pipeline shut down, per Bloomberg. What's happening: Operator Colonial Pipeline aims to have service restored by the week's end following last Friday's ransomware attack that shut down some 5,500 miles of pipeline from Texas to New Jersey. The governors of Florida, Georgia, Virginia and North Carolina declared states of emergency Tuesday due to shortage concerns.Get market news worthy of your time with Axios Markets. Subscribe for free. Vehicles line up to get fuel at a Sunoco gas station in Sumter, South Carolina, on May 11. The Federal Motor Carrier Safety Administration issued a regional emergency declaration on May 9 for 17 states and D.C., to keep fuel supply lines open. Photo: Micah Green/Bloomberg via Getty Images Signs about limiting gas purchases displayed at a Marathon gas station in Smyrna on May 11. Colonial said in a statement Tuesday it started a segment of the pipeline and delivered some 41 million gallons of fuel to locations including the Carolinas, Georgia and New Jersey. Photo: Elijah Nouvelage/AFP via Getty Images Cars line up at a COSTCO at Tyvola Road in Charlotte, North Carolina on May 11. There have been reports of panic-buying across the country. Photo: Logan Cyrus/AFP via Getty Images A "fuel out" sign posted on an entrance at a Marathon gas station in Elizabethtown, North Carolina, on May 10. Photo: Andrew Sherman/Bloomberg via Getty Images Cars line up at a QuickTrip in Atlanta, Georgia, on May 11. Photo: Megan Varner/Getty Images Cars line up at a Chevron Corp. gas station in San Francisco, California, on March 11. Photo: David Paul Morris/Bloomberg via Getty ImagesEditor's note: This article has been updated to include governors' emergency declarations and with more photos.Like this article? Get more from Axios and subscribe to Axios Markets for free.
Germany's Commerzbank swung to a first quarter profit, beating expectations, as the lender undergoes a major restructuring, and it said its outlook for revenues in 2021 was rosier than it had earlier anticipated. Commerzbank said on Wednesday it posted a net profit of 133 million euros ($161.2 million) in the three months through March, compared with a loss of 291 million euros a year earlier. Commerzbank is undergoing a 2 billion euro restructuring involving the closure of hundreds of branches and reduction of 10,000 staff.
Fresenius Medical Care, the world’s leading provider of products and services for individuals with renal diseases, today announced an international campaign that recognizes and supports the organization’s nurses and clinical teams throughout Asia Pacific, Europe, Middle East and Africa. As one of the largest employers of nurses across a vast network of dialysis clinics, the ‘Care goes both ways’ campaign launched on International Nurses Day, providing a platform to connect, support and celebrate health workers and the extraordinary care they provide.
India has confirmed 4,205 more deaths, setting another daily record and taking its official COVID-19 toll past 250,000 as it battles a ferocious surge in infections. Around 370,000 new cases were added in the last 24 hours, pushing India's total past 23 million, according to the health ministry. On Tuesday, authorities warned that nearly 90% of districts in the country are seeing a high positivity rate, sparking fears the coronavirus is spreading to India’s rural areas faster than it during a surge last year.
Subaru has revealed that its first all-electric vehicle will called Solterra.
PRESS RELEASE 12 May 2021 FINANCIAL INFORMATION AT 31 MARCH 2021 SALES OF €21.9BN, UP 6.2% org. (1) 2021 GUIDANCE AND 2022 AMBITIONS CONFIRMED Highlights Discussions on the Arenh reform and the reorganisation of EDF are ongoing between the French State and the European Commission and they remain difficult. There is still no certainty on the timing and the outcome of these discussions. Renewables Offshore wind: launch of the construction of the Courseulles-sur-Mer farm (448MW)Solar and storage: Three contracts for solar projects awarded in New York (303MW)Attribution and launch of the construction of a 300MW solar plant in Saudi Arabia (Jeddah)Acceleration of development in Kenya in distributed and off-grid solar power with the acquisition of 50% of Econet Energy Kenya and Bboxx KenyaNuclear ASN ruling of 23 February 2021 on the terms for continuing to operate 900MW reactors beyond 40 years Flamanville 3 (2): ASN approval of the repair process of 8 penetration welds on the main secondary circuit using remotely-controlled robotsUK: temporary restart of Hinkley Point B and Hunterston B before final shutdown; 3-month extension of the outage of Sizewell B until August 2021India: binding technical and commercial offer submitted for the construction of six EPRs (3) at the Jaitapur site Coal-fired plants step-out process in Europe France: shutdown of Le Havre coal-fired power plant on 31 March 2021 (4)UK: shutdown of the West Burton A plant planned for September 2022, two years before the deadline set by the UK government for coal-fired plants ESG achievements EDF listed on “CAC 40 ESG”, the new stock-market index including 40 socially responsible companiesUpgraded climate governance: EDF group appointed a Climate representative person within the Board of Directors Sound management of the generation fleet throughout the health crisis in FranceExtreme cold snap in Texas: no significant effect on the Group’s net income according to first estimatesElectric mobility & Innovation Pod Point (UK): nearly 110,000 charging points at end-March 2021 (over 13,000 stations deployed in Q1 2021, representing an increase of around 50% compared to the 2020 average)Blockchain: bond issue by the EIB (European Investment Bank) realised via Ethereum (5), based on solutions developed by Exaion, an EDF subsidiary. First commercial success for this start-up, incubated within EDF Enedis Linky program: around 90% of smart meters installed at end-March (31.2 million) Disposal plan Closing of Edison Norge sale (E&P activity in Norway)Closing of IDG sale (gas distribution network in Italy)Signing of a binding agreement for the sale of the West Burton B gas power plant and its battery storage in the UKExclusive negotiations for the sale of the Dalkia subsidiary, Wastenergy (ex TIRU) Health situation EDF remains fully mobilised to ensure the continuity of the activities while maintaining reinforced protection measures for employees and service providers 2021 guidance and 2022 ambitions confirmed (6) 2021 Targets EBITDA (7) > €17bn Net financial debt/EBITDA (7) < 3x 2022 Ambitions Operating expenses (8) reduction between 2019 and 2022 €500m Group disposals 2020-2022 (9) ~€3bn Net financial debt/EBITDA (7) ~3x Dividend Target payout ratio of net income excluding non-recurring items (10) for 2021 & 2022 45%-50% The French State committed to opt for a scrip dividend payment for 2021 fiscal year Change in EDF group sales (in millions of euros) Q1 2020 restated (1) Q1 2021 Organic change (%) (2) France – Generation and supply activities 8,440 8,834 +3.9 France – Regulated activities 5,115 5,598 +9.4 EDF Renewables 396 437 +14.4 Dalkia 1,244 1,350 +7.9 Framatome 794 728 -6.2 United Kingdom 2,748 2,689 -0.9 Italy 1,715 2,029 +18.5 Other international 727 693 -0.3 Other activities 664 891 +35.1 Inter-segment eliminations (1,142) (1,300) - Total Group 20,701 21,949 +6.2 Group sales in first-quarter 2021 increased relative to first quarter 2020. Sales were bolstered by the positive tariff indexations in France and better electricity and gas prices conditions. However, the favourable trend in gas prices had a limited impact in EBITDA. Sales benefited from favourable weather conditions and a good performance of EDF Trading. Change in Group sales by segment France – Generation and supply activities (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (3) 8,440 8,834 +3.9 Sales in France - Generation and supply activities amounted to €8,834 million in the first quarter of 2021, up by 3.9% in organic terms compared to the first quarter of 2020. Sales increased due to favourable energy price effects for an estimated €116 million (4), mainly due to the increases in the regulated sales tariff (including the price catch-up of 2019) of 3% (excl. tax) on 1st February 2020 and 1.93% (excl. tax) on 1st February 2021. Downstream market conditions had a positive impact on sales for an estimated €150 million. Despite the negative impact of the erosion in electricity sales to end customers, sales benefited from the higher capacity remuneration in the offers to end customers linked to the rise in observed prices at the 2020 capacity auctions. The resale of purchase obligations increased by around €132 million resulting from the positive effect of spot prices. However, the impact on EBITDA was neutral. Nuclear output came out at 99.2TWh, down by 2.0TWh compared to the first quarter of 2020, owing mainly to the shutdown of the two reactors at Fessenheim (-3.0TWh). Hydro output (5) totalled 13.7TWh, up by 1.7% (+0.2TWh) compared to the first quarter of 2020. The decrease in nuclear output, partially offset by a slight increase in hydro output, represented a negative volume effect with an unfavourable €113 million (2) impact on sales compared to first quarter 2020. France – Regulated activities (6) (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (7) 5,115 5,598 +9.4 Sales from France - Regulated activities amounted to €5,598 million in the first quarter of 2021, up by 9.4% in organic terms compared to first quarter 2020. The positive price effect of €158 million is mainly explained by the favourable indexation of TURPE 5 (8) on 1st August 2020. Sales benefited from a more favourable weather compared to the particularly mild first quarter of 2020 (around €189 million) and from the increase in grid connection services (around €56 million). Renewable Energies EDF Renewables (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (9) 396 437 +14.4 EDF Renewables sales came out at €437 million in first quarter 2021, reflecting a 14.4% organic increase versus first quarter 2020. This positive trend was fuelled in particular by the distributed solar sector in the United States, with a limited impact at the EBITDA level. Generation sales fell slightly, by 1.3%, as a result of less favourable wind conditions in Europe in 2021. Commissionings in late-2020 and early-2021 only partially offset these unfavourable effects. Generated volumes totalled 4.2TWh at end-March 2021 (down by 2.9% in organic terms compared to first quarter 2020). The net installed capacity of EDF Renewables increased relatively to end-December 2020 thanks to commissionings in 2021, totalling 9.2GW (+0.5GW). The extreme cold spell in Texas did not have a significant impact on sales. However, EDF Renewables was obliged to purchase energy at very high prices in order to honor its contractual commitments. Group Renewables (10) (in millions of euros) Q1 2020 Q1 2021 Change (%) Organic change (%) Sales (1) 1,206 1,721 +42.7 +44.5 Sales for Renewables at Group level amounted to €1,721 million in the first quarter of 2021, up by 44.5% in organic terms. The trend mainly reflected the impact of the sharp increase in electricity spot prices (used by convention to value hydro output (11)) and a slight increase in generation (+0.5TWh). Given the hedging policy, the valuation of additional hydro output had a limited positive impact on Group sales and EBITDA. The gross portfolio of wind and solar projects under construction reached a new high and stood at 8.1GW gross (2.1GW onshore wind, 2.1GW offshore wind and 3.9GW solar) at the end of the first quarter of 2021. Energy Services Dalkia (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (12) 1,244 1,350 +7.9 Sales in the Dalkia segment amounted to €1,350 million in the first quarter of 2021, up by 7.9% in organic terms compared to the first quarter of 2020. The increase in sales mainly resulted from the substantial rise in gas prices compared to first quarter of 2020. Sales were also bolstered by favourable weather conditions, owing to near normal conditions in 2021 compared to a mild first quarter of 2020. Those effects had a limited impact on EBITDA. Dalkia has been awarded a contract for the creation of a renewable heating network in Issoire city (40 buildings), using waste and biomass heat. In the healthcare sector, Dalkia signed an eight-year maintenance operating contract with the W. MOREY Hospital in Châlons-sur-Saône city. Group Energy Services (13) (in millions of euros) Q1 2020 Q1 2021 Change (%) Organic change (%) Sales (1) 1,564 1,720 +10.0 +8.8 Group Energy Services sales totalled €1,720 million in first-quarter 2021, up by 8.8% in organic terms owing to the sharp rise in gas prices reflected in Dalkia sales. Sales were also boosted by growth in service activities in France and in Italy. Framatome (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (14) 794 728 -6.2 EDF Group contributive sales 512 405 -17.6 Framatome posted first-quarter revenue of €728 million, down by 6.2% on an organic basis. The decrease mainly resulted from unfavourable timing effects in the first quarter 2021 owing to the phasing of fuel assembly deliveries over the year, notably for the Taishan EPR. Framatome is committed alongside TVO and AREVA to the fuel loading of the Olkiluoto 3 EPR in Finland, which has been authorised since 26 March 2021. Framatome strengthened its positions in Europe through the acquisition of the control-command business of Evopro Nuclear and Process Automation (NPA) Kft in Hungary. As part of the call for projects to support nuclear industry investments and modernisation, three Framatome projects have been selected and will be backed by the France Relance recovery plan. United Kingdom (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (15) 2,748 2,689 -0.9 In the United Kingdom, sales amounted to €2,689 million in the first quarter of 2021, down by 0.9% in organic terms compared to the first quarter of 2020. This evolution can mainly be attributed to a contraction in the consumption of industrial and professional customers. Supply activity benefited from an increase in consumption volumes of residential customers, due in particular to the cold weather and the take-over of a customer portfolio. Nuclear generation stood at 10.5TWh, down 1.4TWh compared to the first quarter of 2020 following the extended outage of the Hinkley Point B reactors and the planned outage of reactor 1 at Torness. The Dungeness B reactors are still offline. Thermal output was down by 1.0TWh due to the price context. Italy (in millions of euros) Q1 2020 restated (16) Q1 2021 Organic change (%) Sales (1) 1,715 2,029 +18.5 Sales amounted to €2,029 million in the first quarter of 2021, up by 18.5% in organic terms compared to 2020 first quarter. Sales from gas activities rose by €272 million thanks to the increase in spot gas prices on the wholesale market, both upstream and downstream, though with a limited impact on EBITDA. Sales from electricity activities were up by €44 million in connection with a limited positive price effect due to the indexation of contracts in a context of rising electricity spot prices on the wholesale market. Supply activity benefited from a slight increase in the customer portfolio and from an increase in gas volumes sold to professional customers. In addition, thermal output was up compared to the first quarter of 2020, which was marked by technical unavailability, and ancillary services performed well. Wind generation also increased during the quarter. Other developments: Acquisition of the remaining 70% shares in E2i Energie Speciali (674MW)Moody’s upgrade of Edison’s rating from Baa3 to Baa2 Other international (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (17) 727 693 -0.3 of which Belgium 539 512 -6.1 of which Brazil 130 139 +32.3 Sales for the Other International segment came out at €693 million in the first quarter of 2021, down by 0.3% in organic terms compared to the first quarter of 2020. In Belgium (18), sales were down by €33 million in organic terms (-6.1%) reflecting a fall in forward prices in 2020. The annual contract indexation (notably for residential customers), which takes place gradually throughout the year, does not yet fully reflect the recent rise in gas prices on the wholesale markets. However, sales benefited from the increase in gas volumes sold to residential customers resulting from a more favourable weather effect than in the first quarter of 2020 and from the growth in volumes sold to professional and industrial customers. The development of wind power is moving ahead, with a net installed capacity of 551MW (19) at end-March 2021. In Brazil, revenue increased by €42 million in organic terms (+32.3%), mainly due to the 25% revaluation of the Power Purchase Agreement (PPA) in November 2020 for the EDF Norte Fluminense plant, in line with the indexation to gas prices and with the change in the ICMS tax (20) (with no impact on EBITDA). The foreign exchange effect was unfavourable in the first quarter, the Brazilian real declining versus the Euro. Other activities (in millions of euros) Q1 2020 Q1 2021 Organic change (%) Sales (21) 664 891 +35.1 Of which gas activities 252 377 +49.6 Including EDF Trading 303 396 +31.7 Sales for Other activities amounted to €891 million in the first quarter of 2021, up by 35.1% in organic terms compared tothe first quarter of 2020. Sales for the Group gas activities increased by 49.6% compared tothe first quarter of 2020 in a context of very favourable trends in gas prices on the wholesale market and improved use of Group’s capacities. However, these effects had a limited impact inEBITDA. EDF Trading revenue totalled €396 million, up by 31.7% in organic terms compared to first quarter 2020 in a context of high volatility in trading activities in the United States and Europe. Main highlights (22) since the announcement of 2020 full-year results Nuclear EDF submitted to the Indian nuclear operator NPCIL the French binding technical and commercial offer to build six EPRs at the Jaitapur site (see PR of 23 April 2021). Renewables (23) EDF Renewables North America has been awarded three contracts for solar projects in New York (see PR of 5 May 2021).EDF Renewables commissioned a 344 MW wind complex in Brazil (see PR of 5 May 2021).Middle East’s largest wind farm in the Kingdom of Saudi Arabia reached halfway mark on construction (see PR of 12 April 2021).Masdar-EDF Renewables-Nesma consortium reached financial close and started construction on 300 MW solar project in Saudi Arabia (see PR of 12 April 2021).The EDF and SNCF groups signed their first contract on the purchase of renewable electricity for a 20-year period (see PR of 7 April 2021).Launch of the photovoltaic plant project at the Deauville-Normandy airport (see PR of 26 March 2021).EDF Renewables is to build a new ground-based photovoltaic project in the Vienne department (see PR of 5 March 2021).EDF Renewables, Enbridge and wpd launched the construction of the Calvados offshore wind farm (see PR of 22 February 2021). EDF Energy (24) EDF signed binding agreement on the sale of the West Burton B CCGT plant to EIG (see PR of 9 April 2021). Edison (25) Edison completed the sale of Infrastrutture Distribuzione Gas (IDG) to 2I Rete Gas for €150 million (see PR of 30 April 2021).Moody’s upgraded Edison’s rating from Baa3 to Baa2 owing to the company’s improved risk profile, profit growth and increased cash flow (see PR of 19 April 2021).Edison completed Edison Norge sale to Sval Energi for a value of USD 374 million (see PR of 25 March 2021). Other Shareholders’ General Meeting of 6 May 2021: all the resolutions were adopted (see PR of 6 May 2021).Creation of the nuclear professions’ university (see PR of 27 April 2021).The EDF Group and Pôle Emploi committed to the employment and inclusion of young people (see PR of 24 March 2021).The EDF Group created Datanumia, a subsidiary specialised in the optimisation and management of energy consumption (see PR of 19 March 2021).The EDF Group stepped up its distributed solar and off-grid business in Kenya (see PR of 25 February 2021). As a major player in energy transition, the EDF Group is an integrated energy company active in all businesses: generation, transmission, distribution, energy trading, energy sales and energy services. EDF group is a world leader in low-carbon energy, having developed a diverse production mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group is involved in supplying energy and services to approximately 37.9 million customers (1), of whom 28.7 million in France (2). It generated consolidated sales of €69.0 billion in 2020. EDF is listed on the Paris Stock Exchange. Since 2018, customers are counted per delivery site. A customer can have two delivery points: one for electricity and another one for gas.Including ÉS (Électricité de Strasbourg). This presentation does not constitute an offer to sell securities in the United States or any other jurisdiction. No reliance should be placed on the accuracy, completeness or correctness of the information or opinions contained in this presentation, and none of EDF representatives shall bear any liability for any loss arising from any use of this presentation or its contents. The quarterly financial information is not subject to an auditor’s report. The present document may contain forward-looking statements and targets concerning the Group’s strategy, financial position or results. EDF considers that these forward-looking statements and targets are based on reasonable assumptions as of the present document’s publication, which can prove to be inaccurate and are subject to numerous risks and uncertainties. There is no certainty that the forecast events will take place, or that the expected results will actually be achieved. Important factors that could cause actual results, performance or achievements of the Group to differ materially from those contemplated in this document include, in particular: the successful implementation of EDF strategic, financial and operational initiatives based on its current business model as an integrated operator, changes in the competitive and regulatory framework of the energy markets, as well as risk and uncertainties relating to the Group’s activities, its international scope, the climatic environment, the volatility of raw material prices and currency exchange rates, technological changes and changes in the economy. Detailed information regarding these uncertainties and potential risks is available in EDF’s Universal Registration Document (URD), filed with Autorité des Marchés Financiers (AMF) on 15 March 2021, which is available on AMF's website at www.amf-france.org and on EDF’s website at www.edf.fr , as well as in 2020 financial report, available on the EDF website. EDF does not undertake nor does it have any obligation to update forward-looking information contained in this presentation to reflect any unexpected events or circumstances arising after the date of this presentation. This press release is certified. Its authenticity can be checked on medias.edf.com Only print this message if absolutely necessary. EDF SA 22-30, avenue de Wagram 75382 Paris cedex 08 Share capital of €1,549,961,789.50 552 081 317 R.C.S. Paris www.edf.fr CONTACTS Press: +33 (0) 1 40 42 46 37 Analysts and investors: +33 (0) 1 40 42 40 38 1 () Organic change at comparable scope, standards and exchange rates. 2 () See Q1 2021 appendices on Flamanville 3, pages 5 and 6. 3 () EDF is neither an investor nor in charge of construction. 4 () The coal-fired plant in Le Havre has been shut down and mothballed (multi-year guaranteed shutdown) since end-March 2021 and will be disconnected from the grid by end-2021. 5 () Ethereum is a decentralised exchange protocol that allows users to create smart contracts. 6 () Subject to additional reinforced sanitary restrictions impacts. 7 () On the basis of scope and exchange rates at 01/01/2021. 8 () Sum of personnel expenses and other external expenses. At constant scope, standards, exchange rates and pension discount rate, excluding inflation. Excluding sales costs of energy services activities and Framatome’s nuclear engineering services and specific projects such as Jaitapur. 9 () Signed or completed disposals: impact on the Group’s economic debt. 10 () Payout ratio based on net income excluding non-recurring items, adjusted for the remuneration of hybrid bonds accounted for in equity. 1 () The data published in respect of 2020 have been restated for the impact of the change in scope of the Edison’s E&P disposal. The sale of the E&P activities in Norway was closed in March 2021. 2 () Organic change at comparable scope, standards and exchange rates. 3 () Breakdown of sales by segment, before inter-segment eliminations. 4 () Price and volume effects are calculated by convention on the basis of the average hedged price of electricity generation (nuclear, hydro and thermal). 5 () Hydro output excluding French island activities before deduction of pumped volumes. For your information, after deduction of pumped volumes: 11.7TWh at end-March 2020 and 12.2TWh at end-March 2021. 6 () Regulated activities including Enedis, ÉS and island activities. 7 () Breakdown of sales by segment, before inter-segment eliminations. 8 () Indexation of TURPE 5 distribution: +2.75% on 1st August 2020. 9 () Breakdown of sales across the segments, before inter-segment eliminations. 10 () For the renewable energy generation optimized within a larger portfolio of generation assets, in particular relating to the French hydro fleet after deduction of pumped volumes, revenue is estimated, by convention, by valuing output generated at spot market prices (or at purchase obligation tariff) without taking into account hedging effects, and include the valuation of the capacity, if applicable. This convention is the best reflection of the use of the hydro fleet and differs from the convention used in the France - Generation and supply activities, in which all generation (nuclear, hydropower, thermal) is valued on the basis of the average hedged price for the generation fleet. 11 () Production after deducting consumption of pumped volumes. 12 () Breakdown of sales by segment, before inter-segment eliminations. 13 () Group Energy Services include Dalkia, Citelum, CHAM and the service activities of EDF Energy, Edison, Luminus and EDF SA. These include street lighting, heating networks, decentralized low-carbon generation based on local resources, energy consumption management and electric mobility 14 () Breakdown of sales by segment, before inter-segment eliminations. 15 () Breakdown of sales by segment, before inter-segment eliminations. 16 () The data published in respect of 2020 have been restated for the impact of the change in scope of the Edison’s E&P disposal. The sale of the E&P activities in Norway was closed in March 2021. 17 () Breakdown of sales by segment, before inter-segment eliminations. 18 () Luminus and EDF Belgium. 19 () Net capacity at Luminus scope. Gross installed wind capacity was 592MW at end-March 2021 vs. 588MW at end-December 2020. 20 () Imposto sobre Circulação de Mercadorias e Serviços, a tax on the circulation of goods and services in Brazil. 21 () Breakdown of sales by segment, before inter-segment eliminations. 22 () The full list of press releases is available on our website: www.edf.fr 23 () The full list of press releases is available on our website: www.edf-renouvelables.com 24 () The full list of press releases is available on our website: www.edfenergy.com 25 () The full list of press releases is available on our website: www.edison.it Attachment PR Q1 2021 - VDEF certified
Barry Jenkins’s adaptation of Colson Whitehead’s Pulitzer-winning novel tells the story of Cora, a young enslaved woman who travels from Georgia on a bid for freedom
Victims of domestic violence are for the first time to be offered “safe spaces” in banks where they can escape their abusive partner and call for help. TSB has become the first high street bank to offer the safe spaces at 290 of its branches nationwide enabling victims to have a secure location where they can phone a helpline, contact a support service or privately talk to a friend or family member. The bank joins 5,300 pharmacies that are part of the safe space initiative organised by the domestic abuse charity Hestia. It is running alongside a Government scheme where victims of domestic violence get a code word they can use in supermarkets and pharmacies to escape their abuse All staff at major supermarkets including Sainsbury’s, Tesco and Asda and high street chemists are to be trained to respond by taking the victim to a safe place in the store where they can call police or the national domestic abuse helpline. The safe spaces scheme follows a 30 per cent rise in demand to Hestia for support from victims. There has also been a 10 percent increase in downloads of Hestia’s free domestic abuse smartphone app, Bright Sky, compared to the first lockdown. As lockdown restrictions start to ease, the charity is warning that demand could rise further as victims reach out for help after being isolated at home for so long. All TSB branch colleagues have received specialist training to increase their confidence in responding to disclosures of domestic abuse and will provide victims with access to the Safe Space in their branch. Victims can use a private room to make telephone calls, speak to a trained staff member and contact the local police force if necessary. The support is available to both TSB customers and members of the public and adheres to current health and safety regulations, ensuring people can still visit safely. Sue Harper, Head of Domestic Abuse Prevention at Hestia said: “During the pandemic, self-isolation has given abusers a new method of control over victims making it very difficult for them to get the help they need. As restrictions ease, it’s vital that access to specialist domestic abuse support is readily accessible. “Businesses have a unique role in breaking the silence around domestic abuse. By providing a Safe Space in their banks, TSB will help us reach many more victims of domestic abuse, ensuring they get the specialist help and advice they need. We hope many more businesses will follow their lead and support this scheme.”
In a new Netflix series, Ewan McGregor stars as the titular fashion designer, leading a cast that includes Bill Pullman, Krysta Rodriguez and a breakout performance from Gianfranco Rodriguez
At this time, I would like to welcome everyone to the Electronic Arts Q4 2021 earnings conference call. With me from their homes today are Andrew Wilson, our CEO; and Blake Jorgensen, our CFO and COO.
BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary Shares The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company. Close of business 11 May 2021. Estimated NAV Euro SharesSterling SharesEstimated NAV€ 26.9834£ 23.5169Estimated MTD return -0.44 % -0.43 %Estimated YTD return 4.04 % 3.29 %Estimated ITD return 169.83 % 135.17 % NAV and returns are calculated net of management and performance fees Market information Euro SharesAmsterdam (AEX)London (LSE)Market Close€ 21.60N/APremium/discount to estimated NAV -19.95 %N/A Sterling SharesAmsterdam (AEX)London (LSE)Market CloseN/AGBX 1,800.00Premium/discount to estimated NAVN/A -23.46 % Transactions in own securities purchased into treasury Ordinary Shares Euro SharesSterling SharesNumber of sharesN/AN/AAverage PriceN/AN/ARange of PriceN/AN/A Liquidity Enhancement AgreementEuro SharesSterling SharesNumber of sharesN/AN/AAverage PriceN/AN/A BGHL Capital BGHL Ordinary SharesEuro SharesSterling SharesShares Outstanding 12,760,769 294,494Held in treasuryN/AN/AShares Issued 12,760,769 294,494 Estimated BG Fund NAV Class B Euro Shares (estimated)€ 227.7090Class GBP A Shares (estimated)£ 124.7800 The Class B Euro Shares of BG Fund are not subject to investment manager fees, as the Investment Manager receives management fees and performance fees in respect of its role as Investment Manager of BGHL. For further information please contact: Boussard & Gavaudan Investment Management, LLP. Emmanuel Gavaudan +44 (0) 20 3751 5389 Email : email@example.com The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has received the necessary approval of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the "Shares") are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc's main market for listed securities. This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law. Neither the Company nor BG Fund ICAV has been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States. You should always bear in mind that: all investment is subject to risk; results in the past are no guarantee of future results; the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice. This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice. Attachment Daily NAV - BgHL