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CTS Eventim AG & Co. KGaA: CTS EVENTIM achieves significant revenue and earnings growth in first quarter of 2018

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DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Quarterly / Interim Statement

23.05.2018 / 09:30
The issuer is solely responsible for the content of this announcement.
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*PRESS RELEASE*

*CTS EVENTIM achieves significant revenue and earnings growth in first quarter of 2018*

· Group revenues increase by 32.5 percent to 274.5 million Euro, normalised EBITDA by 21.8 percent to 55.4 million Euro
· Ticketing shows organic revenue growth of around ten percent, with a higher EBITDA margin than a year before
· Online ticketing volume grows by 12.5 percent
· Revenue and normalised EBITDA improved in the Live Entertainment segment by more than 50 percent, mainly due to tours attracting large audiences

Munich, 23 May 2018. CTS EVENTIM, one of the world's leading providers of ticketing services and live entertainment, has started 2018 with significant growth in revenue and earnings. In the first quarter, group revenues rose year-on-year by 32.5 percent to reach EUR 274.5 million (Q1/2017: EUR 207.2 million). In the same period, normalised EBITDA climbed 21.8 percent to EUR 55.4 million (Q1/2017: EUR 45.4 million). Both growth rates were attributable to strong organic growth not only in ticketing operations, but also in the live entertainment business.

Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: 'In the first quarter of 2018, we followed on seamlessly from our record year in 2017. Thanks to many tours drawing big crowds, and the dynamic development of our webshops, CTS EVENTIM is superbly positioned for further international growth in the future. Our performance so far gives us every reason to be optimistic that we will improve our revenue and normalised EBITDA once again in 2018.'

In the Ticketing segment, revenue increased by 9.9 percent to reach EUR 101.8 million (Q1/2017: EUR 92.6 million). This purely organic growth was supported by a further increase in online ticketing volume. In the first three months of this year, CTS EVENTIM sold 12.1 million tickets through its webshops alone, in 23 different countries - signifying a growth rate of 12.5 percent (Q1/2017: 10.8 million tickets). In that context, normalised EBITDA in this segment rose strongly by 10.6 percent to EUR 40.4 million (Q1/2017: EUR 36.5 million).

In the Live Entertainment segment, revenue climbed by 50.8 percent to EUR 175.0 million (Q1/2017: EUR 116.1 million), surpassing expectations. This achievement is attributable not only to various promoters from the CTS EVENTIM portfolio who organised many crowd-pulling concerts throughout Europe, but also to the latest 'Holiday on Ice' jubilee tour and to the recent acquisitions of Italian promoters. Normalised EBITDA rose disproportionately by 67.6 percent to EUR 14.9 million (Q1/2017: EUR 8.9 million). In addition to the events mentioned, proceeds from sales of shares achieved by FKP Scorpio in its Danish portfolio contributed to this. Having sold its stakes in Northside and Tinderbox, FKP Scorpio has focussed on its touring business in Denmark.

The quarterly report on business performance in the first three months of 2018 will be available for download at www.eventim.de when this press release is published.*About CTS EVENTIM*
CTS EVENTIM is one of the leading international providers of ticketing services and
live entertainment. In 2017, more than 250 million tickets were marketed using the company's systems - through stationary box offices, online or mobile. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like 'Rock am Ring', 'Rock im Park', 'Hurricane' and 'Southside'. In addition, some of Europe's most renowned venues are operated by CTS EVENTIM, for example the LANXESS arena in Cologne, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS EVENTIM AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and has been a member of the MDAX segment since 2015. In 2017, its 3,020-strong workforce generated more than one billion Euro in revenues in 23 countries.
 

*For further information, contact:*

Corporate Communications:
Christian Steinhof
Head of Corporate Communications
Tel.: +49.40.380788.7299
christian.steinhof@eventim.de

Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49.421.3666.270
marco.haeckermann@eventim.de
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23.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------

Language: English
Company: CTS Eventim AG & Co. KGaA
Rablstr. 26
81669 München
Germany
Phone: 0421/ 3666-233
Fax: 0421/ 3666-290
E-mail: tatjana.wilhelm@eventim.de
Internet: www.eventim.de
ISIN: DE0005470306
WKN: 547030
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
 
End of News DGAP News Service Reported by EQS Group 37 minutes ago.

Apogenix Provides Update on Clinical Development of Asunercept

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DGAP-News: Apogenix AG / Key word(s): Research Update

23.05.2018 / 10:00
The issuer is solely responsible for the content of this announcement.
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*Apogenix Provides Update on Clinical Development of Asunercept*

*- 5-year overall survival rate for patients with recurrent glioblastoma treated with asunercept in phase II trial was 7% vs. 0% for patients treated with radiotherapy alone*

*- Apogenix is preparing for submission of conditional marketing authorization application for asunercept in the EU*

*Heidelberg, Germany, May 23, 2018 -* Apogenix AG, a biopharmaceutical company developing next-generation immuno-oncology therapeutics, today provides an update on the clinical development and approval strategy of its lead drug candidate asunercept.

In May 2017, asunercept received PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA) for the treatment of glioblastoma. In November 2017, Apogenix had the kick-off meeting for the PRIME procedure with the EMA and presented its plan to make asunercept available to patients suffering from recurrent glioblastoma as fast as possible. The company prepared an update of overall survival data from its phase II trial with asunercept in recurrent glioblastoma for the kick-off meeting. This update revealed that the five-year overall survival rate for patients treated with asunercept was 7 percent. There were no patients treated with radiotherapy alone who survived five years.

As an outcome of the kick-off meeting, the EMA invited Apogenix to discuss the entire asunercept data set in a pre-assessment meeting with the agency. Apogenix is working closely with the EMA to accelerate the approval process of asunercept and intends to submit a marketing authorization application (MAA) for conditional approval of asunercept in recurrent glioblastoma by the end of 2019.

Chinese licensing partner CANbridge recently announced the approval of an investigational new drug (IND) application by the China Food and Drug Administration for a pivotal phase II/III clinical trial with asunercept (CAN008) to treat patients with recurrent glioblastoma in China. The randomized, double-blind, placebo-controlled, multicenter phase II/III trial will evaluate the efficacy and safety of weekly re-radiation therapy in combination with asunercept. The study's primary endpoint is overall survival. CANbridge anticipates dosing the first patient later this year.

"We are excited about the support that Apogenix is receiving from the EMA in the PRIME process," said Harald Fricke, M.D., Chief Medical Officer of Apogenix. "We are also very pleased with the progress our Chinese licensing partner CANbridge is making in the clinical development of asunercept in China. The clinical and safety data from CANbridge's phase II/III trial with asunercept in China and our phase II trial in Europe will help both sides ensure that patients suffering from recurrent glioblastoma can benefit from this novel treatment option as fast as possible."

*About Asunercept*
Apogenix' lead immuno-oncology candidate asunercept is a fully human fusion protein that consists of the extracellular domain of the CD95 receptor and the Fc domain of an IgG1 antibody. It is being developed for the treatment of solid tumors and malignant hematological diseases. Asunercept was granted orphan drug designation for the treatment of glioblastoma and myelodysplastic syndromes (MDS) in both the EU and the US. In 2017, asunercept received PRIME (PRIority MEdicines) designation by the European Medicines Agency (EMA) for the treatment of glioblastoma.

*About Apogenix*
Apogenix is a private company developing innovative immuno-oncology therapeutics for the treatment of cancer and other malignant diseases. The Heidelberg, Germany-based company has built a promising pipeline of immuno-oncology drug candidates that target different tumor necrosis factor (TNF) superfamily-dependent signaling pathways, thereby restoring the immune response against tumors. Checkpoint inhibitor asunercept, the company's lead immuno-oncology candidate, is in late-stage clinical development. Based on its proprietary technology platform for the construction of novel hexavalent TNF superfamily receptor agonists (HERA), Apogenix develops CD40, CD27, GITR, HVEM, 4-1BB, and OX40 receptor agonists for cancer immunotherapy.
In 2015, Apogenix entered into an exclusive licensing agreement with CANbridge Life Sciences for the development and commercialization of asunercept for the treatment of glioblastoma in China, Macao, Hong Kong, and Taiwan. CANbridge has received approval by the China Food and Drug Administration for a pivotal phase II/III trial with asunercept (CAN008) in glioblastoma in China. The HERA-TRAIL receptor agonist program was out-licensed to AbbVie in 2014. In 2017, AbbVie initiated a phase I trial with this HERA-TRAIL receptor agonist (ABBV-621) in 92 patients suffering from solid tumors, non-Hodgkins's lymphoma, or acute myeloid leukemia.

*Contact *
Thomas Höger, Ph.D., CEO
Apogenix AG
Phone: +49 6221 58608-0
E-Mail: contact@apogenix.com
Web: www.apogenix.com

*Media Contact *
Katja Arnold / Andreas Jungfer
MC Services AG
Phone: +49 89 210228-0
E-Mail: apogenix@mc-services.eu
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23.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de -------------------- Reported by EQS Group 5 minutes ago.

Man Utd rated most valuable club; six English sides make top 10

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Manchester United remain the most valuable club in Europe, according to the latest study - but six Premier League sides make the top 10.

The post Man Utd rated most valuable club; six English sides make top 10 appeared first on teamtalk.com. Reported by Team Talk 7 minutes ago.

UK becoming 'cocaine capital' of Europe, warns minister

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UK becoming 'cocaine capital' of Europe, warns minister Ministers pledge action on drug killings as MP says they must ask themselves "do black lives matter?" Reported by BBC News 4 minutes ago.

Jaguar Land Rover counts the cost of plummeting UK and European demand

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Jaguar Land Rover counts the cost of plummeting UK and European demand Jaguar Land Rover’s annual earnings fell by a third as Britain’s biggest carmaker counted the cost of plummeting diesel demand in UK and Europe.

In its final quarter – the three months to March – the picture was even worse, with profit before tax halving from £676m to £364m. Full-year earnings fell by £471m to £974m.

Despite the earnings fall, annual profit before tax was broadly flat after JLR received a £438m pension credit boost.

Retail sales volumes in the UK fell by more than a fifth (20.5 per cent) and Europe by 14.1 per cent. This was partially offset by an increase in the US of almost a third (32.3 per cent).

Retail demand slumped for the Range Rover Evoque (down 10.3 per cent). Its best-selling Discovery Sport saw sales fall seven per cent lower with demand for JLR's XE down 5.9 per cent in 2018.

*Read more*: Brexit is not the driving force behind Jaguar Land Rover’s problems

Last month JLR announced 1,000 jobs would go after admitting sales had stalled in the wake of a crackdown on diesel cars. Nine out of every 10 cars the firm makes are diesel-powered and commentators have highlighted JLR is behind the curve in the development of electric vehicles. The firm has recently launched its first all-electric I-Pace model.

Chief executive Ralf Speth acknowledged JLR’s “external headwinds” but insisted the carmaker’s results reflected its underlying strengths.

“Strong demand in our key overseas markets has offset the challenging conditions in the UK and other parts of Europe, he said.



As we mark the first ten years of Tata ownership, our focus is on shaping our future and we will continue with over-proportional investment in new vehicles, manufacturing facilities and next-generation automotive technologies in line with our autonomous, connected, electric and shared strategy.



*Read more*: Lloyds £14bn car finance arm growth threatened by Jaguar Land Rover cuts Reported by City A.M. 13 hours ago.

I want Arsenal to be among Europe's elite - new boss Emery

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I want Arsenal to be among Europe's elite - new boss Emery New Arsenal manager Unai Emery says he wants the club to be among Europe's elite once more. Reported by BBC Sport 13 hours ago.

Unai Emery: 'I want Arsenal to be back among Europe's elite'

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Unai Emery: 'I want Arsenal to be back among Europe's elite' New Arsenal manager Unai Emery says he wants the club to be among Europe's elite once more. Reported by BBC News 13 hours ago.

Italy business urges no weakening of Europe ties

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Industrial lobby group says nation needs trade as investor fears over government grow Reported by FT.com 13 hours ago.

Regulator gives nod to Lloyd’s of London to muscle into Brussels

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Regulator gives nod to Lloyd’s of London to muscle into Brussels Lloyd’s of London is soon to be Lloyd’s of Brussels after receiving regulatory approval for the launch of its Brexit-related subsidiary.

The insurance market announced today it had received approval from the National Bank of Belgium for its Brussels operation.

The licence means Lloyd’s will be able to write non-life risks from the European Economic Area (EEA) meaning Lloyd’s customers can still use its underwriters post-Brexit.

*Read more*: Lloyd's of London launches Brussels hiring spree for new EU base

Lloyd’s boss Inga Beale said: “Since the UK referendum on EU membership Lloyd’s has been working hard to ensure that whatever the outcome of the Brexit negotiations our partners across the EEA will continue to enjoy access to Lloyd’s unique offering.”

She said the Brussels launch “will deliver certainty for all our customers, reassuring them they can continue benefitting from Lloyd’s specialist expertise, innovative policies and financial security post-Brexit.”

Lloyd’s chief commercial officer Vincent Vandendael will be chief executive of the business alongside his current role.

*Read more*: Lloyd's of London to open office in Brussels in time for Brexit

He said: “Lloyd’s Brussels will be at the forefront of our modernisation drive, with a platform in one of our most important markets that harnesses all the benefits of Lloyd’s whilst utilising the latest technology, expertise and talent available.”

Belgium’s minister of finance, Johan Van Overtveldt said he welcomed the move and anticipated further insurers setting up in Brussels.

“By establishing an insurance company in Brussels, Lloyd’s will significantly strengthen Brussels as a financial centre and build a bridge to London for specialised insurance and re-insurance. We are looking forward to welcoming more London-based insurance companies and brokers to Brussels, which lies at the heart of Europe and is home to the main European decision-making centres.”

Companies to move operations to Brussels because of Brexit include clearing house Euroclear which plans to move its tax residence and domicile to Brussels and payment transfer giant Moneygram which its moving European headquarters to Brussels.

Other companies have looked to Ireland for a post Brexit-insurance policy including Bank of America which is moving 125 jobs from the UK to Ireland and law firm DLA Piper which announced last week that it would open a Dublin office in late 2018 or early 2019.

  Reported by City A.M. 13 hours ago.

Jaguar Land Rover counters UK downturn with record global sales

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Range Rover Velar was among JLR's fastest-selling models for the last tax year

UK’s biggest car maker sold 614,309 cars in 12 months, despite fall in domestic demand, with overall revenue up 6%

Jaguar Land Rover recorded 6% growth in revenue and a 1.7% increase in retail sales in the tax year ended 31 March, despite being hit hard by a heavy downturn in domestic demand.

Global sales totalled 614,309 cars for the tax year — a new high for the company. However, British sales tumbled by 12.8% and European demand was down by 5.3%.

JLR CEO Ralf Speth said that it was strong demand in key overseas market that “offset the challenging conditions in the UK and other parts of Europe”.

Much of the global increase can be attributed to China, where sales were up 19.9% year on year. North American sales also rose 4.7% in the 12 months.

*Aston Martin records profit for fifth consecutive quarter*

Of its models, JLR said the new Land Rover Discovery and Range Rover Velar were key contributors to growth, while the Jaguar E-Pace and China-only Jaguar XFL were among that brand’s best sellers.

The UK’s biggest car maker’s revenue totalled £25.8 billion in the 12 months to 31 March, generating £1.5bn of pre-tax profit.

Speth highlighted that financial growth came at a time the brand continues with “over-proportional investment in new vehicles, manufacturing facilities and next-generation automotive technologies in line with our Autonomous, Connected, Electric and Shared strategy”.

JLR invested £4.2bn into new technologies during the year, with a portion of this focused on the development of its first electric car, the I-Pace. The firm also said it funded the building of new R&D facilities, as well as the upgrading of existing sites. Construction of its new plant in Nitra, Slovakia, will have required substantial investment.

During the current tax year, £450 million is being invested at JLR’s Gaydon Design and Engineering Centre to upgrade the facility into a central hub. JLR will also open a software engineering centre in Shannon, Ireland, that will support the electrification of JLR models and develop self-driving technology.

*More content:*

*Land Rover Discovery long-term review*

*New car sales in Europe increase by 9% in April* Reported by Autocar 12 hours ago.

Iris sells for £1.3bn, making a 4.2-times return for its owner

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Iris sells for £1.3bn, making a 4.2-times return for its owner Iris, a business software group which serves clients from GP surgeries to high street brands, has finally sold today in a widely anticipated £1.3bn deal.

The technology-focused Saturn fund of private equity firm Hgcapital, along with London-listed investor Intermediate Capital Group (ICG), scooped up Iris in the UK's largest ever private equity-led software buyout.

Hg, which previously owned the business through its sixth buyout fund, made 4.2 times the value it invested in 2011. Following the sale of Iris, the sixth fund will have returned to investors around 207 per cent of the cash they invested.

*Read more*: Iris set to sell to ICG and Hgcapital in massive £1.2bn deal

“ICG is delighted to invest in Iris and once again support Hg. We have worked together with Hg successfully on software deals including Visma and Team System, and they have a proven track record in this sector,” said ICG's chief investment officer Benoit Durteste.

“In our opinion, Iris is a first class business with a great track record led by a talented management team, focused on regulatory and compliance driven software solutions. Iris is well positioned for further organic and inorganic growth. It is a great way for us to start our new ICG European Fund VII.”

The value of the deal means that Hg is now the fourth largest software owner in Europe, after SAP, Amadeus and Dassault, holding businesses worth more than $17bn (£13bn) combined.

Hg initially invested in Iris in 2004, and retained a stake throughout a number of deals. Over the last six, the business has more than trebled in size.

Iris was advised by boutique tech investment bank Arma Partners.

*Read more*: GP software supplier Iris could fetch more than £1bn in auction Reported by City A.M. 12 hours ago.

Premier League attendances: 11 English clubs among top 50 most packed stadiums in Europe

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Premier League attendances: 11 English clubs among top 50 most packed stadiums in Europe THERE were 10 Premier League clubs - and one Championship outfit - among the 50 best supported clubs in Europe this season. Reported by Daily Star 12 hours ago.

What happened at The Great Escape New Music Festival – Day Three 19.5.18

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Alas it’s the final day of Europe’s biggest new music event – The Great Escape. The Brighton & Hove Music Team brings you a final 12 concert reports from this fab third days proceedings, so sit back and enjoy… GOD ON MY RIGHT (England) – Prince Albert 12:00 – 12:30 Saturday’s o... Reported by Brighton and Hove News 11 hours ago.

Challenger stock exchange Aquis prepares for £73m London float

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Challenger stock exchange Aquis prepares for £73m London float Aquis, a challenger trading venue which aims to rival players like the London Stock Exchange with its subscription-based model, is planning to list in London in the next month.

The business, founded and headed by former ITG and Chi-X boss Alasdair Haynes, hopes to raise £12m of new money to build its presence in the City.

Already used by big-name banks such as UBS, Aquis believes its subscription-based model – rather than the pay-per-trade model employed by its incumbent rivals – can save trading firms billions of pounds.

*Read more: *Rich Ricci and Bob Diamond eye up investment in new exchange

This is also due to the fact that Aquis bans "aggressive" high-frequency traders which aim to capture fractional differences by trading quickly across different venues.

Eliminating such traders lowers the "toxicity"– a measure of the degree to which the price rises, or falls, while the order is in the process of being executed – of the venue, so traders can achieve a more reliable price.

Aquis, which was founded in 2012, has already lured two per cent of equity trading in Europe to its venue and plans to keep on pushing. It also provides market data and trading technology to other clients.

The listing on London's junior market will see the Warsaw Stock Exchange sell its 20 per cent stake. It had initially invested in 2013, through a deal which valued Aquis at around £17m.

Haynes has previously told City A.M. that although the group expects to make a pre-tax loss of £4m this year, it hopes to hit profitability by 2020.

*Read more: *HSBC’s former legal boss hired for Aquis board Reported by City A.M. 11 hours ago.

GDPR: Europe takes lead in data protection

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New Brussels regulation comes amid rising concerns over individuals’ right to privacy Reported by FT.com 11 hours ago.

Ryder Cup points increase offers incentive at Wentworth

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Ryder Cup points increase offers incentive at Wentworth European Ryder Cup captain Thomas Bjorn provided a timely reminder that September’s renewal of hostilities with the United States is fast approaching this week when he named four vice-captains.

If that announcement focused a few minds among the leading players then so will the beginning of a new phase in the qualification process, in which points are now worth 50 per cent more than before.

The mechanism, designed to afford in-form players the edge in the battle for eight automatic spots on the European team, takes effect at the BMW PGA Championship tomorrow, where a number of Ryder Cup hopefuls on the fringes of Bjorn’s plans can significantly enhance their prospects.

*Read more*: Bjorn adds four vice-captains to his Ryder Cup backroom team

Defending champion Alex Noren currently occupies eighth place in the rankings, a position that leaves him vulnerable heading into the qualification run-in.

The Swede illustrated his class at Wentworth 12 months ago when he broke the West Course record with a dazzling final round of 62 to come from seven strokes behind and win the European Tour’s flagship event.

It was his finest hour, and though Noren has shown flashes of that form since – he has a second-place finish and two third places in the US this season – he is yet to add another title and remains within reach of a chasing pack of rivals for a Ryder Cup place who are also in action at the PGA Championship this week.

A resurgent Ian Poulter is hottest on Noren’s tail, having capped a dramatic turnaround in fortunes by winning his first tournament since 2012 at the Houston Open in April.Ian Poulter is in the frame for a Ryder Cup comeback (Source: Getty)

Europe’s long-time Ryder Cup talisman failed to qualify for the 2016 defeat at Hazeltine and, while he might expect to be a prime wild card candidate should he miss the mark again, Poulter is back in the form to leave nothing to chance.

Fellow Englishman Matt Fitzpatrick, part of Darren Clarke’s beaten team two years ago, is enduring a mixed season yet remains just outside the qualifying places and posted an improved 12th-place finish at this event last year.Matt Fitzpatrick is just outside the current qualifying places (Source: Getty)

He can take heart from the fact that five of the last five winners at Wentworth have been home players.

Paul Dunne, currently 11th in Europe’s Ryder Cup rankings, is enjoying a purple patch.Paul Dunne is in sparkling form heading to Wentworth (Source: Getty)

The young Irishman has been top-10 in four of his last five outings, not including the Golf Sixes event in St Albans earlier this month – an unofficial European Tour event – which he won alongside countryman Gavin Moynihan.

His only previous win, meanwhile, also came on UK soil, at the British Masters last year, where he mustered a 61 to see off none other than Rory McIlroy.

Just behind Dunne in the reckoning is Paul Casey, who won at Wentworth in 2009 and has resumed European Tour membership after a three-year hiatus partly in the hope of returning to the Ryder Cup side.Paul Casey is back on the European circuit after time in the States (Source: Getty)

Casey finished in the top five on his last outing, at the Wells Fargo Championship, and already has one win this season, also in the US.

With four months to go until the first tee shot in France, Bjorn and his new vice-captains Lee Westwood, Padraig Harrington, Graeme McDowell and Luke Donaldo, will be watching with interest. Reported by City A.M. 9 hours ago.

Unai Emery: I'll be demanding to drag Arsenal back to top

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Unai Emery: I'll be demanding to drag Arsenal back to top Arsenal’s new manager Unai Emery believes his uncompromising approach can arrest the club’s decline and turn them back into contenders for the game’s biggest prizes.

The Gunners confirmed Emery’s appointment on Wednesday after selecting the former Paris Saint-Germain, Sevilla and Valencia coach as the successor to Arsene Wenger.

Chief executive Ivan Gazidis cited the Spaniard’s passion and energy as decisive factors in his selection and Emery confirmed that he would expect the same from the Arsenal squad.

*Read more*: Trevor Steven: Emery has the winning mentality Arsenal lack

“In my career I am very demanding [of] myself. And I want near people and players who are demanding also,” he said.

“We want to work to improve individually and collectively all we can. All the titles are important for us. I think we can and we want to be candidates for them. I don’t promise today we will win. But I can promise you we will work hard.”

Emery, who conducted his first press conference in broken English, called his appointment a “dream come true” and spoke of his pride at following Wenger, the club’s greatest ever manager.

The Basque, 46, has a reputation as a pragmatist but insisted he would uphold the Wenger tradition of dominating possession while asking the team to press more aggressively without the ball.

Gazidis said Emery, who suddenly replaced Mikel Arteta as bookmakers’ favourite on Monday, had been the club’s first choice and praised the “chemistry” during his interview process.

“Our players we believe will respond to the new energy Unai brings,” said Gazidis.

“I think they will have somebody under whom they can improve their game and if they embrace those challenges then the players we have today can be more successful in the future.

“I don’t think anybody believes that sixth place is a place that a club of the stature of Arsenal should be, so we need to look to improve that.

"Clearly the ambition is to be a candidate to win the biggest trophies in England and Europe, but we’ve got to understand that’s not going to be done in one leap; it’s going to be the result of focus, hard work, discipline, energy, commitment, will to win. That’s what we need to have our players embrace and I believe that they will.”

Gazidis revealed that Arsenal first interviewed Emery almost two weeks ago and that he escorted him to the United States on Monday to meet majority shareholder Stan Kroenke, who approved the hire.

  Reported by City A.M. 9 hours ago.

Arsenal transfer news: Does done deal in Europe hint at Unai Emery's first signing?

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Arsenal transfer news: Does done deal in Europe hint at Unai Emery's first signing? ARSENAL have been linked with German goalkepeer Bernd Leno - and have his club Bayer Leverkusen just dropped a hint a deal could be on this summer. Reported by Daily Star 9 hours ago.

Liverpool are about to unleash a new era onto European football

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Liverpool's Champions League final with Real Madrid will be the trigger for a new era of English dominance in Europe's top competition. Reported by Football FanCast 7 hours ago.

Iran leader: Europe must protect trade with Tehran to save nuclear deal

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LONDON (Reuters) - Iran's top leader set out a series of conditions on Wednesday for European powers if they want Tehran to stay in a nuclear deal after the U.S. exit, including steps to safeguard trade with Tehran and guarantee Iranian oil sales. Reported by Reuters 5 hours ago.
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