Reported by FT.com 2 hours ago.
Axa revenues boosted by Europe, health insurance gains
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Solutions 30 : Accelerated growth in the third quarter of 2018
Press release
November 6, 2018, 6:00 pm
*Accelerated growth in the third quarter of 2018*
· Q3 revenue: +59.5%
· Quarterly revenue exceeds €100 million for the first time
Solutions 30 SE, the European leader in solutions for new technologies, publishes its revenue for the third quarter of 2018.
*In millions of euros*
(Unaudited figures) * * *9 months* * * *3^rd quarter*
* * *2018* 2017 *% change* * * *2018* 2017 *% change*
*Total* * * *291.1* 189.0 *+54.0* *%* * * *114.5* 71.8 *+59.5* *%*
From France * * *185.8* 120.5 +54.1 % * * *69.7* 45.6 +53.0 %
From abroad * * *105.3* 68.5 +53.8 % * * *44.8* 26.2 +70.9 %
*Accelerated growth in the third quarter: +59.3%*
With €114.5 million in revenue in the third quarter of 2018, Solutions 30 has hit the symbolic milestone of €100 million in quarterly revenue for the first time. The group’s rate of growth has reached +59.5% (+17.6% like-for-like), based on comparisons with 2017.
*In France*, Q3 2018 revenue was €69.7 million, up +53.0% (+21.2% like-for-like). All of the group’s business units fueled this organic momentum, which was only reinforced by fully consolidating CPCP as of August 1^st.
*Revenue from international operations* rose to €44.8 million, an increase of +70.9% (+11.4% like-for-like). This performance was mainly fostered by the strategic acquisitions made in Benelux in 2018, namely the full consolidation of Janssens Field Services (JFS) and Unit-T, which is 70% owned by Solutions 30 and 30% owned by the Belgian cable operator Telenet. This subsidiary is in the process of being integrated and will reach its nominal level in November.
*Revenue for the first three quarters* amounted to €291.1 million, an increase of 54.0%. Solutions 30 has a good balance of domestic (+54.1%) and international (53.8%) growth as well as organic growth (+29.8%) and acquisitions (+24.2%).
*Outlook for profitable, sustainable growth confirmed*
Momentum from the third quarter is carrying over into the fourth thus bolstering the group in its capability to achieve its annual goals of sustainable and profitable growth.
In the long term, the group will continue to benefit from structurally fast growing markets and to deploy its profitable model throughout Europe in order to capitalize on growth opportunities provided by the economy’s digital transformation. Pursuing targeted acquisitions is part of the group’s strategy to reach its medium-term goal of exceeding a billion euros in revenue.
*Securities transactions*
During the Extraordinary General Meeting held on October 31^st, the shareholders of Solutions 30 approved a resolution to divide the nominal value of Solutions 30 shares by four. After this operation which aims to increase the shares’ accessibility and liquidity, the company’s capital will consist of 96,719,248 shares worth a nominal value of 0.1275 €.
As described in the press release dated October 31^st, the delisting of the old shares (ISIN Code: FR0013188844) and the listing of the new shares (ISIN Code: FR0013379484) will take place on November 7^th. The new shares will be delivered on November 9^th.
In addition, and as stated in the press release dated September 24^th, the Executive Board will proceed on November 9^th to grant to 14 Executives of Solutions 30, 7,338,144 stock options, which can be immediately exercised, leading to the issuance of the same number of shares. The company’s capital will the consist of 104,057,392 shares.
*Upcoming events: *
January 28, 2019 2018 Annual Sales
April 24, 2019 2018 Annual Results
April 25, 2019 2:30 pm: Investor Meeting (in French)
5 pm: Investor Conference Call (in English)
^(*) Published after market closes at 6 pm
*About Solutions 30*
The Solutions 30 Group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 10 million call-outs carried out since it was founded and a network of more than 6,000 local technicians, Solutions 30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, and Spain. The share capital of Solutions 30 SE consists of 24,179,812shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on Euronext Growth (ISIN FR0013188844 becoming FR0013379484 on November 7^th- code ALS30) as well as the Frankfurt Stock Exchange on the XETRA e-listing system (ISIN FR0013188844 becoming FR0013379484 on November 7^th – code 30L2)
Indexes: MSCI Europe Small Cap | Tech40 | CAC PME.
For more information, visit our website: www.solutions30.com
*Contacts - Solutions 30*
*SOLUTIONS 30* *EDIFICE COMMUNICATION*
Nezha Calligaro | CEO PA Samuel Beaupain | Media Relations
+352 2 648 19 17 | nezha.calligaro@solutions30.com 06 88 48 48 02 | samuel@edifice-communication.com
*GENESTA FINANCE*
Hervé Guyot | Listing Sponsor Nathalie Boumendil | Investor Relations
01 45 63 68 60 | hguyot@genesta-finance.com
06 85 82 41 95 | nathalie@edifice-communication.com
*Attachment*
· PRESS RELEASE 06 NOVEMBER 2018 Reported by GlobeNewswire 1 hour ago.
November 6, 2018, 6:00 pm
*Accelerated growth in the third quarter of 2018*
· Q3 revenue: +59.5%
· Quarterly revenue exceeds €100 million for the first time
Solutions 30 SE, the European leader in solutions for new technologies, publishes its revenue for the third quarter of 2018.
*In millions of euros*
(Unaudited figures) * * *9 months* * * *3^rd quarter*
* * *2018* 2017 *% change* * * *2018* 2017 *% change*
*Total* * * *291.1* 189.0 *+54.0* *%* * * *114.5* 71.8 *+59.5* *%*
From France * * *185.8* 120.5 +54.1 % * * *69.7* 45.6 +53.0 %
From abroad * * *105.3* 68.5 +53.8 % * * *44.8* 26.2 +70.9 %
*Accelerated growth in the third quarter: +59.3%*
With €114.5 million in revenue in the third quarter of 2018, Solutions 30 has hit the symbolic milestone of €100 million in quarterly revenue for the first time. The group’s rate of growth has reached +59.5% (+17.6% like-for-like), based on comparisons with 2017.
*In France*, Q3 2018 revenue was €69.7 million, up +53.0% (+21.2% like-for-like). All of the group’s business units fueled this organic momentum, which was only reinforced by fully consolidating CPCP as of August 1^st.
*Revenue from international operations* rose to €44.8 million, an increase of +70.9% (+11.4% like-for-like). This performance was mainly fostered by the strategic acquisitions made in Benelux in 2018, namely the full consolidation of Janssens Field Services (JFS) and Unit-T, which is 70% owned by Solutions 30 and 30% owned by the Belgian cable operator Telenet. This subsidiary is in the process of being integrated and will reach its nominal level in November.
*Revenue for the first three quarters* amounted to €291.1 million, an increase of 54.0%. Solutions 30 has a good balance of domestic (+54.1%) and international (53.8%) growth as well as organic growth (+29.8%) and acquisitions (+24.2%).
*Outlook for profitable, sustainable growth confirmed*
Momentum from the third quarter is carrying over into the fourth thus bolstering the group in its capability to achieve its annual goals of sustainable and profitable growth.
In the long term, the group will continue to benefit from structurally fast growing markets and to deploy its profitable model throughout Europe in order to capitalize on growth opportunities provided by the economy’s digital transformation. Pursuing targeted acquisitions is part of the group’s strategy to reach its medium-term goal of exceeding a billion euros in revenue.
*Securities transactions*
During the Extraordinary General Meeting held on October 31^st, the shareholders of Solutions 30 approved a resolution to divide the nominal value of Solutions 30 shares by four. After this operation which aims to increase the shares’ accessibility and liquidity, the company’s capital will consist of 96,719,248 shares worth a nominal value of 0.1275 €.
As described in the press release dated October 31^st, the delisting of the old shares (ISIN Code: FR0013188844) and the listing of the new shares (ISIN Code: FR0013379484) will take place on November 7^th. The new shares will be delivered on November 9^th.
In addition, and as stated in the press release dated September 24^th, the Executive Board will proceed on November 9^th to grant to 14 Executives of Solutions 30, 7,338,144 stock options, which can be immediately exercised, leading to the issuance of the same number of shares. The company’s capital will the consist of 104,057,392 shares.
*Upcoming events: *
January 28, 2019 2018 Annual Sales
April 24, 2019 2018 Annual Results
April 25, 2019 2:30 pm: Investor Meeting (in French)
5 pm: Investor Conference Call (in English)
^(*) Published after market closes at 6 pm
*About Solutions 30*
The Solutions 30 Group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 10 million call-outs carried out since it was founded and a network of more than 6,000 local technicians, Solutions 30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, and Spain. The share capital of Solutions 30 SE consists of 24,179,812shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on Euronext Growth (ISIN FR0013188844 becoming FR0013379484 on November 7^th- code ALS30) as well as the Frankfurt Stock Exchange on the XETRA e-listing system (ISIN FR0013188844 becoming FR0013379484 on November 7^th – code 30L2)
Indexes: MSCI Europe Small Cap | Tech40 | CAC PME.
For more information, visit our website: www.solutions30.com
*Contacts - Solutions 30*
*SOLUTIONS 30* *EDIFICE COMMUNICATION*
Nezha Calligaro | CEO PA Samuel Beaupain | Media Relations
+352 2 648 19 17 | nezha.calligaro@solutions30.com 06 88 48 48 02 | samuel@edifice-communication.com
*GENESTA FINANCE*
Hervé Guyot | Listing Sponsor Nathalie Boumendil | Investor Relations
01 45 63 68 60 | hguyot@genesta-finance.com
06 85 82 41 95 | nathalie@edifice-communication.com
*Attachment*
· PRESS RELEASE 06 NOVEMBER 2018 Reported by GlobeNewswire 1 hour ago.
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The Brief: Dieselgate and the future
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Orbital Gas Systems signs technical collaboration deal with Mitsubishi Electric Europe
CUI Global Inc (NASDAQ:CUI) announced Tuesday that its wholly-owned UK energy division, Orbital Gas Systems, has entered into a technical collaboration with Mitsubishi Electric Europe BV to further enhance Orbital's remote telemetry unit (RTU) and BioMethane product lines with Mitsubishi Electric's automation control platforms. The partnership will ensure Orbital continues to utilize optimum industry standard equipment for its product lines. Mitsubishi Electric will provide the hardware product platform and technical support, with Orbital contributing system design and implementation expertise. "This collaboration allows Orbital to continue to build on its efforts in the RTU market, first started with its proprietary IRIS software. Now, with input from our major customers and Mitsubishi Electric, our RTU units will address the specific needs and requirements of our customer base," said CUI global president and CEO William Clough, adding this would enable them "to increase our market share in this burgeoning field." BIG PICTURE: CUI Global’s energy subsidiary secures US$1.5mln service contract from major UK natural gas operator Customers will benefit from the continuity of Mitsubishi Electric product support, diversity of implementation knowledge and speedy turnaround of hardware supply. Both companies will partner in the marketing and sales of the product lines. The services will initially benefit UK gas transmission and gas distribution networks with further collaboration expected throughout Europe and North America. "Our partnership enables both companies to pool complimentary knowledge, expertise and technologies to create better solutions for our customers on a befittingly stable platform," said Orbital president Paul White. He added: "There is significant benefit in the product compatibility of the Mitsubishi Electric platform, meaning we can continue using our proprietary developed software as the hardware product develops. Furthermore, Mitsubishi Electric's recently launched iQ-R and iQ-F Programmable Logic Controllers are the fastest in the market." READ: CUI Global's quarterly results will reflect 'a great deal of expansion on the energy side' For more than 35 years, the Mitsubishi Electric team has been growing and expanding its network and services throughout the UK. CUI Global is a company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The company is based in Houston, Texas. Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com
Reported by Proactive Investors 1 hour ago.
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8th Consecutive Year: Greenberg Traurig Receives Most Overall First-Tier Rankings in 2019 ‘Best Law Firms’
Greenberg Traurig is Law Firm of the Year for Information Technology Law
NEW YORK (PRWEB) November 06, 2018
For the eighth consecutive year, global law firm Greenberg Traurig, LLP received the most overall first-tier rankings in the U.S. News – Best Lawyers “Best Law Firms” report. In the 2019 edition, the firm was also recognized as “Law Firm of the Year” for Information Technology Law.
Greenberg Traurig received the most overall first-tier rankings in the United States for Trademark Law; Litigation – Banking & Finance; Real Estate Law; Corporate Law; and Commercial Litigation.
According to U.S. News – Best Lawyers, firms included in the 2019 “Best Law Firms” are recognized for “professional excellence with persistently impressive ratings from clients and peers.” According to the publication, achieving a tiered ranking “signals a unique combination of quality law practice and breadth of legal expertise.”
For the 2019 edition, U.S News – Best Lawyers reported receiving more than one million law firm assessments from more than 16,000 attorneys and received over 100,000 evaluations from nearly 12,000 clients. According to the U.S. News – Best Lawyers press release the 2019 rankings are based on the highest number of participating firms and highest number of client ballots on record. To be eligible for a ranking, a firm must have a lawyer listed in The Best Lawyers in America, which recognizes the top 4 percent of practicing attorneys in the United States.
Greenberg Traurig was recognized as “Law Firm of the Year” for its Information Technology Law Practice. According to U.S. News – Best Lawyers, only one firm is named “Law Firm of the Year” for select nationally ranked practice areas.
Additionally, for the 12th consecutive year, Greenberg Traurig has more attorneys included in the related Best Lawyers in America guide than any other law firm listed.
In the U.S. News – Best Lawyers 2019 “Best Law Firms” report, Greenberg Traurig received a national first-tier ranking in the following practice areas:· Appellate
· Banking and Finance Law
· Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
· Commercial Litigation
· Construction Law
· Copyright Law
· Corporate Law
· Criminal Defense: White-Collar
· Employee Benefits (ERISA) Law
· Employment Law - Management
· Energy Law
· Entertainment Law - Motion Pictures & Television; and Music
· Environmental Law
· Financial Services Regulation Law
· Franchise Law
· Health Care Law
· Immigration Law
· Information Technology Law
· International Trade and Finance Law
· Labor Law – Management
· Land Use & Zoning Law
· Litigation - Banking & Finance; Bankruptcy; Construction; Environmental; ERISA; Intellectual Property; Labor & Employment; Mergers & Acquisitions; Patent; Real Estate; and Securities
· Mass Tort Litigation / Class Actions - Defendants
· Mergers & Acquisitions Law
· Native American Law
· Patent Law
· Public Finance Law
· Real Estate Law
· Securities / Capital Markets Law; and Securities Regulation
· Tax Law
· Technology Law
· Trademark Law
· Trusts & Estates Law
· Venture Capital Law
Greenberg Traurig received first-tier metropolitan rankings for the following practice areas:
· Administrative / Regulatory Law
· Appellate
· Banking and Finance Law
· Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
· Commercial Finance Law
· Commercial Litigation
· Construction Law
· Copyright Law
· Corporate Governance Law; and Corporate Law
· Criminal Defense: White-Collar
· Eminent Domain and Condemnation Law
· Employee Benefits (ERISA) Law
· Employment Law - Management
· Energy Law
· Entertainment Law - Motion Pictures & Television; and Music
· Environmental Law
· Equipment Finance Law
· Financial Services Regulation Law
· Franchise Law
· Gaming Law
· Government Relations Practice
· Health Care Law
· Immigration Law
· Information Technology Law
· Insurance Law
· International Trade and Finance Law
· Labor Law - Management
· Land Use & Zoning Law
· Legal Malpractice Law - Plaintiffs
· Litigation – Antitrust; Banking & Finance; – Bankruptcy; Construction; Environmental; ERISA; Intellectual Property; Labor & Employment; Land Use & Zoning; Mergers & Acquisitions; Municipal; Patent; Real Estate; Regulatory Enforcement (SEC, Telecom, Energy); Securities; and Trusts & Estates
· Mass Tort Litigation / Class Actions - Defendants
· Medical Malpractice Law - Defendants
· Mergers & Acquisitions Law
· Native American Law
· Patent Law
· Privacy and Data Security Law
· Product Liability Litigation - Defendants
· Public Finance Law
· Real Estate Law
· Securities / Capital Markets Law; and Securities Regulation
· Tax Law
· Technology Law
· Trademark Law
· Transportation Law
· Trusts & Estates Law
· Venture Capital Law
· Water Law
In addition to the first-tier national and metropolitan rankings, the firm was also recognized and ranked for the following practice areas:
· Admiralty & Maritime Law
· Advertising Law
· Derivatives and Futures Law
· Family Law
· Legal Malpractice Law - Defendants
· Leisure and Hospitality Law
· Litigation - First Amendment; and Tax
· Media Law
· Natural Resources Law
· Oil & Gas Law
· Personal Injury Litigation – Defendants; and Plaintiffs
· Securitization and Structured Finance Law
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law. Reported by PRWeb 1 hour ago.
NEW YORK (PRWEB) November 06, 2018
For the eighth consecutive year, global law firm Greenberg Traurig, LLP received the most overall first-tier rankings in the U.S. News – Best Lawyers “Best Law Firms” report. In the 2019 edition, the firm was also recognized as “Law Firm of the Year” for Information Technology Law.
Greenberg Traurig received the most overall first-tier rankings in the United States for Trademark Law; Litigation – Banking & Finance; Real Estate Law; Corporate Law; and Commercial Litigation.
According to U.S. News – Best Lawyers, firms included in the 2019 “Best Law Firms” are recognized for “professional excellence with persistently impressive ratings from clients and peers.” According to the publication, achieving a tiered ranking “signals a unique combination of quality law practice and breadth of legal expertise.”
For the 2019 edition, U.S News – Best Lawyers reported receiving more than one million law firm assessments from more than 16,000 attorneys and received over 100,000 evaluations from nearly 12,000 clients. According to the U.S. News – Best Lawyers press release the 2019 rankings are based on the highest number of participating firms and highest number of client ballots on record. To be eligible for a ranking, a firm must have a lawyer listed in The Best Lawyers in America, which recognizes the top 4 percent of practicing attorneys in the United States.
Greenberg Traurig was recognized as “Law Firm of the Year” for its Information Technology Law Practice. According to U.S. News – Best Lawyers, only one firm is named “Law Firm of the Year” for select nationally ranked practice areas.
Additionally, for the 12th consecutive year, Greenberg Traurig has more attorneys included in the related Best Lawyers in America guide than any other law firm listed.
In the U.S. News – Best Lawyers 2019 “Best Law Firms” report, Greenberg Traurig received a national first-tier ranking in the following practice areas:· Appellate
· Banking and Finance Law
· Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
· Commercial Litigation
· Construction Law
· Copyright Law
· Corporate Law
· Criminal Defense: White-Collar
· Employee Benefits (ERISA) Law
· Employment Law - Management
· Energy Law
· Entertainment Law - Motion Pictures & Television; and Music
· Environmental Law
· Financial Services Regulation Law
· Franchise Law
· Health Care Law
· Immigration Law
· Information Technology Law
· International Trade and Finance Law
· Labor Law – Management
· Land Use & Zoning Law
· Litigation - Banking & Finance; Bankruptcy; Construction; Environmental; ERISA; Intellectual Property; Labor & Employment; Mergers & Acquisitions; Patent; Real Estate; and Securities
· Mass Tort Litigation / Class Actions - Defendants
· Mergers & Acquisitions Law
· Native American Law
· Patent Law
· Public Finance Law
· Real Estate Law
· Securities / Capital Markets Law; and Securities Regulation
· Tax Law
· Technology Law
· Trademark Law
· Trusts & Estates Law
· Venture Capital Law
Greenberg Traurig received first-tier metropolitan rankings for the following practice areas:
· Administrative / Regulatory Law
· Appellate
· Banking and Finance Law
· Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
· Commercial Finance Law
· Commercial Litigation
· Construction Law
· Copyright Law
· Corporate Governance Law; and Corporate Law
· Criminal Defense: White-Collar
· Eminent Domain and Condemnation Law
· Employee Benefits (ERISA) Law
· Employment Law - Management
· Energy Law
· Entertainment Law - Motion Pictures & Television; and Music
· Environmental Law
· Equipment Finance Law
· Financial Services Regulation Law
· Franchise Law
· Gaming Law
· Government Relations Practice
· Health Care Law
· Immigration Law
· Information Technology Law
· Insurance Law
· International Trade and Finance Law
· Labor Law - Management
· Land Use & Zoning Law
· Legal Malpractice Law - Plaintiffs
· Litigation – Antitrust; Banking & Finance; – Bankruptcy; Construction; Environmental; ERISA; Intellectual Property; Labor & Employment; Land Use & Zoning; Mergers & Acquisitions; Municipal; Patent; Real Estate; Regulatory Enforcement (SEC, Telecom, Energy); Securities; and Trusts & Estates
· Mass Tort Litigation / Class Actions - Defendants
· Medical Malpractice Law - Defendants
· Mergers & Acquisitions Law
· Native American Law
· Patent Law
· Privacy and Data Security Law
· Product Liability Litigation - Defendants
· Public Finance Law
· Real Estate Law
· Securities / Capital Markets Law; and Securities Regulation
· Tax Law
· Technology Law
· Trademark Law
· Transportation Law
· Trusts & Estates Law
· Venture Capital Law
· Water Law
In addition to the first-tier national and metropolitan rankings, the firm was also recognized and ranked for the following practice areas:
· Admiralty & Maritime Law
· Advertising Law
· Derivatives and Futures Law
· Family Law
· Legal Malpractice Law - Defendants
· Leisure and Hospitality Law
· Litigation - First Amendment; and Tax
· Media Law
· Natural Resources Law
· Oil & Gas Law
· Personal Injury Litigation – Defendants; and Plaintiffs
· Securitization and Structured Finance Law
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law. Reported by PRWeb 1 hour ago.
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Hungary’s Viktor Orban wants to destroy Europe, claims Verhofstadt | Raw Politics
Liberal MEP Guy Verhofstadt has claimed Hungary’s PM Viktor Orban is trying to destroy Europe.
Reported by euronews 37 minutes ago.
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Myomo shares jump after getting Medicare codes, reversing earlier losses
Myomo Inc (NYSEMKT:MYO) stock soared on Tuesday after publishing two new Medicare codes, obliterating earlier losses following disappointing third-quarter results. The codes of the devices cover Myomo's MyoPro Motion E and W (elbow and wrist) and MyoPro Motion G (grasp). "The MyoPro has already helped so many patients with neurological/neuromuscular injury and illness by supporting their weakened arms, restoring control over their range of motion, reducing their healthcare costs, and giving them back their independence," said Myomo chief medical officer Brandon Green. "It is important for clinically qualified Medicare and Medicaid beneficiaries to have access to this technology too," he said. The codes become effective January 1, 2019. The two codes are L8701 and L8702 and both are designed to power an upper extremity range of motion assist device. Shares of Myomo soared 26.88% to a session peak at $2.69. The stock initially dropped 19.8% to a session low of $1.70 on Tuesday. READ: Myomo pushing into Europe with arm braces treating paralysis The early weakness was caused by Myomo's third-quarter results which were released late Monday. Revenue came in at $609,000, 25% higher than revenue in the year-ago quarter of $489,000 and the consensus is that it would reach $820,000. The company said EPS was flat on the whole as it recorded a loss of $0.21, against the year ago loss of also $0.21 and the consensus of a loss of $0.20. “Our expanded sales team and marketing efforts have resulted in a significant increase in the MyoPro units being processed for insurance reimbursement. This growing pipeline is a leading indicator of revenue growth as we continue to penetrate the large, untapped market for upper limb paralysis,” said Paul Gudonis, chairman and CEO of Myomo. The company said increases in operating expenses primarily reflect higher compensation costs associated with the addition of personnel, the expansion of the sales team, marketing and product development efforts as well as increased administrative costs. Operating expenses were $3.12 million, higher by $1.32 million or 74%, during the three months ending on September 30, 2018, versus the comparable period of 2017. Operating expenses for the first nine months were $8.84 million, higher by $3,4 million or 63%, during the nine months ending on September 30, 2018, and compared to the nine months which ended on September 30, 2017. Myomo is a wearable medical robotics company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. The company is based in Cambridge, Massachusetts. Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com
Reported by Proactive Investors 47 minutes ago.
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5 trends that will reshape media and advertising in 2019, including Facebook's next moves
· The advertising and media industries will continue to see seismic changes in 2019, according to a new report by market research firm Forrester.· AT&T will buy Roku and Google will acquire LiveRamp in 2019, Forrester predicts.
· Additionally, blockchain will become increasingly mainstream, and hyper-targeting will give way to contextual creative, the report says.From a bevy of M&A deals and consolidation on one end, to Facebook's Cambridge-Analytica scandal and GDPR on another, there were a lot of shake-ups in the advertising and media industries in 2018.
2019 will continue that trend, according to a new report by market research firm Forrester, which predicts not only more M&A action, but also trends like blockchain becoming more mainstream.
"We feel that there are specific events and trends that will take place in 2019 – specifically around further M&A, blockchain introducing itself into advertising, creative supporting personalization and Facebook having to rely more heavily on Instagram and WhatsApp for growth," Collin Colburn, B2C marketing analyst at Forrester, told Business Insider.
But on a macro level, the biggest battleground for media in 2019 will be control for digital advertising dollars, he said. Amazon, AT&T, Verizon, and Disney have all made moves to counter the Facebook-Google duopoly, and will vie for their position with their technology stacks, distribution, and content capabilities.
"Google and Facebook will start to feel this competition in 2019, and we will be watching to see if cracks begin forming in the foundation of the empires they have both built," Colburn said.
Here are the five events that will reshape media ad advertising in 2o19, according to Forrester:
**AT&T will buy Roku to become a TV platform**
By snapping up Time Warner, AppNexus, and DirectTV, AT&T pieced together the content, technology, and distribution pipes needed to challenge the duopoly as well as rival TV networks. But to truly become a viable threat, it needs to become a bigger part of consumers' daily lives.
AT&T will do that by acquiring Roku, Forrester predicts, as the acquisition will not only give it tremendous scale but also help it complement its new targeted advertising division, Xandr.
"Buying Roku is a natural next step for AT&T after their acquisitions of Time Warner and AppNexus in 2018," Colburn said.
*Instagram and WhatsApp will save Facebook *
From the Cambridge Analytica fiasco, to a cyber attack that impacted nearly 50 million user accounts, Facebook battled a spate of brand crises in 2018, severely impacting its brand reputation.
The platform isn't growing at the pace it once was either, with monthly active users (MAUs) being flat in the second quarter of 2018 in North America and falling in Europe, coupled with decelerated ad revenue growth.
But the company can't be dismissed yet, according to Forrester, with Instagram quickly emerging as its shining star with more than 1 billion monthly active users and a user growth rate outpacing Facebook's.
"In 2019, we predict that Instagram will continue to pick up the slack while Facebook hones in on Messenger and WhatsApp to accelerate user and ad revenue growth for the parent company," the authors of the report write. "Messaging apps for one-on-one consumer interactions and advertising are still uncertain territory for brands but are increasing in interest — and Facebook will deliver."
*Blockchain will become mainstream in advertising*
From ads that get clicked on by bots, to hidden fees and an overall lack of transparency, the digital ad ecosystem has been under fire of late on a number of fronts.
A number of big brands and marketers are attempting to fight that by betting on blockchain, the distributed ledger technology that underpins the cryptocurrency bitcoin.
By the end of 2019, advertisers will be able to follow every dollar that leaves their coffers, Forrester predicts, and be able to see exactly how much they are paying, and for what, at every step of the way.
Big brands like Kellogg's, Kimberly-Clark, Pfizer, and Unilever are already leading the way by participating in a blockchain pilot program powered by IBM and Media Ocean that aims to bring complete transparency to media-buying.
"Blockchain will make an important entrance in 2018, by exposing the value and costs of all the steps in the media supply chain," Colburn said. "But it will be a couple of years before blockchain is ready to make the impact that marketers are really looking for – impression-level reporting that will expose advertising fraud."
*Hyper-targeting will give way to hyper-focus on creative*
The rollout of GDPR sent many advertisers scrambling, casting a shadow on a future where they could hyper-target media, especially those brands lacking in first-party customer data.
But as the use of consumer data comes under increasing scrutiny, the focus, at least for advertisers, will turn back to powerful creative, according to Forrester.
In 2019, advertisers will start turning to creative adtech vendors like RevJet and Thunder to create contextually relevant ads cued by both first-party data, as well as data around the weather, time of day, and live events.
Creative adtech will also improve ad quality and cross-channel storytelling. More brands will refrain from stalking consumers around the internet with cheap-looking, product-focused display ads, according to Forrester.
"Despite what marketers and advertisers think, the media industry isn't nearly as customer-obsessed as it could be," Colburn said. "I am most bullish on advertisers trading in their hyper-targeting obsession for a hyper-focus on creative in advertising – it will improve both the customer experience and overall results."
*A bidding war will break out for LiveRamp, and Google will take the cake*
Several players – from Adobe and Salesforce to ad holding companies – have had their eyes on LiveRamp since Axciom's data marketing services were acquired by IPG.
The competition is only going to heat up more, with a huge bidding war breaking out for LiveRamp, according to Forrester.
Forrester thinks the ultimate winner at the end though will be Google, which will outbid everyone with its trove of cash, making LiveRamp's data available for customers using its newly branded and consolidated adtech stack, Google Marketing Platform.
"With these acquisitions, the big keep getting bigger," Colburn said.
Join the conversation about this story »
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NorthStar Realty Europe +4.4% after pact to sell tower for $762M
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EnterWorks and Comma Group Announce MDM Delivery Partnership at MDM & Data Governance Summit in New York
EnterWorks and Comma Group Also Joined with Tenzing™ to Sponsor NYC MDM & DG Dinner Event Featuring Industry Leaders, Best Practices, and Networking
STERLING, Va. (PRWEB) November 06, 2018
EnterWorks, a leading provider of Master Data Management (MDM) and Product Information Management (PIM), unveiled the company’s partnership with Comma Group, an international MDM and PIM consultancy, at this week’s MDM & Data Governance Summit in New York. The summit series is the most widely attended IT event focused on modern data management business and IT issues.
Now in its 13th year, the MDM & Data Governance Summit Series is at the forefront of IT industry events in providing the necessary insight and best practices as well as quality networking opportunities. This is the world's premier conference dedicated to these two topics and provides a mixture of leading industry analyst trend perspectives, a wide array of use cases, market-leading product-specific sessions and best practice panel discussion.
EnterWorks and Comma Group will join forces to deliver market-leading software with Comma approved delivery solutions. Both businesses are at the forefront of the shift towards partner-led delivery in the MDM market. By bringing together Comma’s unique people first MDM delivery and EnterWorks’ cutting-edge technology, organizations are given the ability to implement multi-domain MDM and PIM solutions in a sustainable framework that puts data at the heart of business strategy.
The announcement underpins exciting expansion for both companies across North America and Europe. “This partnership builds on excellent foundations already in place. The Summit has already delivered exciting conversations and opportunities for both companies and we look forward to a long, fruitful relationship,” Sam Goss, CMO & Co-Founder, Comma Group.
“Partnerships have always been at the heart of successful MDM & PIM implementations and the exciting partnership between EnterWorks and Comma Group creates a dynamic, client-first offering,” said Kerry Young, Chief Operating Officer for EnterWorks.
About EnterWorks®
EnterWorks® Master Data Management (MDM) and Product Information Management (PIM) solution enables companies to acquire, manage and transform product information into persuasive content that drives higher sales and new competitive strengths through e-commerce, mobile, print and various electronic channels. Services offered include: Master Data Management, Product Information Management, Dynamic Data Modeling, Workflow & Collaboration, Syndication & Publishing, Digital Asset Management, Geographic Localization, Portal Content Exchange, and Digital Channel Accelerators.
EnterWorks is highly ranked by research analysts, including its Leader status in the 2018 Forrester Product Information Management Wave, and is employed by industry leaders such as: Ariens, Big Rock Sports, CPO Commerce, Creative Converting, Darigold, Fender Musical Instruments, Guthy-Renker, Hearth & Home Technologies, HON Furniture, HP Hood, Interline Brands, Johnstone Supply, Mary Kay, Mercer, Orgill, Publishers Clearing House, Restoration Hardware, US Foods, and W.B. Mason. Learn more at http://www.enterworks.com.
About Comma Group
Comma was formed in 2015 after recognizing the increasing importance that data plays within the 21st century business landscape but questioning the success of how it was being managed. The exponential boost in its value to support wider initiatives such as digital transformation and customer loyalty programs means that good data management is becoming an increasingly competitive advantage to organizations.
Bringing together years of experience within data and information management, Comma strives to provide a service that connects people and data allowing our clients to realize the true value of their information. We are driven by business outcome and long-term success for our clients. We are not just another system integrator but instead a strategic partner invested in delivering solutions that align to your business objectives. Learn more at https://www.comma-group.com. Reported by PRWeb 25 minutes ago.
STERLING, Va. (PRWEB) November 06, 2018
EnterWorks, a leading provider of Master Data Management (MDM) and Product Information Management (PIM), unveiled the company’s partnership with Comma Group, an international MDM and PIM consultancy, at this week’s MDM & Data Governance Summit in New York. The summit series is the most widely attended IT event focused on modern data management business and IT issues.
Now in its 13th year, the MDM & Data Governance Summit Series is at the forefront of IT industry events in providing the necessary insight and best practices as well as quality networking opportunities. This is the world's premier conference dedicated to these two topics and provides a mixture of leading industry analyst trend perspectives, a wide array of use cases, market-leading product-specific sessions and best practice panel discussion.
EnterWorks and Comma Group will join forces to deliver market-leading software with Comma approved delivery solutions. Both businesses are at the forefront of the shift towards partner-led delivery in the MDM market. By bringing together Comma’s unique people first MDM delivery and EnterWorks’ cutting-edge technology, organizations are given the ability to implement multi-domain MDM and PIM solutions in a sustainable framework that puts data at the heart of business strategy.
The announcement underpins exciting expansion for both companies across North America and Europe. “This partnership builds on excellent foundations already in place. The Summit has already delivered exciting conversations and opportunities for both companies and we look forward to a long, fruitful relationship,” Sam Goss, CMO & Co-Founder, Comma Group.
“Partnerships have always been at the heart of successful MDM & PIM implementations and the exciting partnership between EnterWorks and Comma Group creates a dynamic, client-first offering,” said Kerry Young, Chief Operating Officer for EnterWorks.
About EnterWorks®
EnterWorks® Master Data Management (MDM) and Product Information Management (PIM) solution enables companies to acquire, manage and transform product information into persuasive content that drives higher sales and new competitive strengths through e-commerce, mobile, print and various electronic channels. Services offered include: Master Data Management, Product Information Management, Dynamic Data Modeling, Workflow & Collaboration, Syndication & Publishing, Digital Asset Management, Geographic Localization, Portal Content Exchange, and Digital Channel Accelerators.
EnterWorks is highly ranked by research analysts, including its Leader status in the 2018 Forrester Product Information Management Wave, and is employed by industry leaders such as: Ariens, Big Rock Sports, CPO Commerce, Creative Converting, Darigold, Fender Musical Instruments, Guthy-Renker, Hearth & Home Technologies, HON Furniture, HP Hood, Interline Brands, Johnstone Supply, Mary Kay, Mercer, Orgill, Publishers Clearing House, Restoration Hardware, US Foods, and W.B. Mason. Learn more at http://www.enterworks.com.
About Comma Group
Comma was formed in 2015 after recognizing the increasing importance that data plays within the 21st century business landscape but questioning the success of how it was being managed. The exponential boost in its value to support wider initiatives such as digital transformation and customer loyalty programs means that good data management is becoming an increasingly competitive advantage to organizations.
Bringing together years of experience within data and information management, Comma strives to provide a service that connects people and data allowing our clients to realize the true value of their information. We are driven by business outcome and long-term success for our clients. We are not just another system integrator but instead a strategic partner invested in delivering solutions that align to your business objectives. Learn more at https://www.comma-group.com. Reported by PRWeb 25 minutes ago.
↧
↧
VMware bought the startup founded by the ex-Googlers who created one of the hottest technologies in Silicon Valley (VMW, GOOG, GOOGL)
· *Cloud computing computing VMware announced Tuesday it plans to acquire Heptio, which provides support for the open source cloud project Kubernetes.*· *Kubernetes is massively popular with developers, who use it to manage complex software environments. *
· *Heptio was cofounded by two of the ex-Googlers who originally created Kubernetes.*
· *This announcement follows a trend in open source acquisitions this year, including Microsoft's acquisition of GitHub and IBM's plan to acquire Red Hat.*
· *VMware hasn't announced the terms of the deal, but it plans to close this deal in fiscal Q4 2019.*
This looks to be the year of acquisitions of open source software companies, and $58 billion IT infrastructure company VMware — a subsidiary of Dell — just announced another one on Tuesday.
At its VMworld Europe event, VMware announced it would acquire Heptio, which builds its own version of Kubernetes, a quickly-growing cloud computing platform that developers have grown to love. Although VMware hasn’t announced the terms of the deal, it expects to close the deal in VMware's fiscal Q4 2019.
Kubernetes is an open source cloud project, originally created by Google to manage its server infrastructure and containers. Heptio’s products make it easier for customers to manage multiple clouds, so customers can use platforms like Amazon Web Services, Microsoft Azure, and their own servers, without massively re-architecting their software infrastructure.
Notably, Heptio was cofounded by Joe Beda and Craig McLuckie, two of the original co-creators of Kubernetes at Google. In 2016, the duo departed Google to found Heptio, with an eye towards making Kubernetes easier for developers to use. Heptio also provides training, support and professional services to help customers use Kubernetes.
VMware and the software company Pivotal — another Dell-owned public company — have previously delivered the Kubernetes-powered Pivotal Container Service. Kubernetes is already mega-popular among developers, but with this acquisition, VMware looks to establish even more of a leadership position with Kubernetes-based technology.
“Kubernetes is emerging as an open framework for multi-cloud infrastructure that enables enterprise organizations to run modern applications,” Paul Fazzone, senior vice president and general manager of the Cloud Native Apps Business Unit at VMware, said in a statement.
This follows a trend in acquisitions of open source-powered companies this year, notably seen with Microsoft acquiring GitHub and IBM’s recent announcement that it plans to acquire Red Hat. In fact, Red Hat itself also offers Kubernetes-based technology as a part of its OpenShift application platform.
“VMware’s interest in Heptio is a recognition that there is so much innovation happening in open source,” Craig McLuckie, CEO and co-founder of Heptio, said in a statement. “We are jointly committed to contribute even more to the community—resources, ideas and support.”
*Read more: VMware's CEO has a vision that should terrify the security industry: 'Start getting rid of products'*
The Linux Foundation and Docker both showed support for this proposed acquisition, as it shows VMware’s continued engagement with the open source community.
“We are all happy for their success,” Jim Zemlin, executive director of the Linux Foundation, said in a statement. “VMware has also steadily upped its investment and engagement with open source through the years. Following so closely after the IBM/Red Hat news, this is yet another example of a large company that believes open source and open cloud computing are critical to future growth.”
“Following IBM’s proposed acquisition of Red Hat, it’s clear that other companies are reacting and looking for acquisition strategies to assemble a platform capable of managing containerized applications across multi-cloud environments,” Neil Charney, CMO of Docker, said in a statement.
Join the conversation about this story »
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Confirmed Measles Outbreak Rises To 52 Cases In Rockland County, More Suspected
The initial outbreak was centered in Hasidic communities after travelers may have brought the infection back from Europe and Israel.
Reported by CBS 2 8 minutes ago.
↧
Sogeclair : turnover for the 3rd quarter 2018
*Turnover over the first 9 months as of September 30^th 2018: +4.2%*
*3^rd quarter: +9.6%*
*SOGECLAIR, *the designer of innovative high added-value solutions and products for the aerospace and transport sectors, today reports its turnover over the first 9 months 2018, ending on September 30^th 2018.
The activity, at constant exchange rate, over the first nine months of the year increased by 6.3%.
* *
*By division* *Turnover*
*9 months 2018 (k€)* *Turnover*
*9 months 2017 (k€)* *Variation in %*
*2018-2017*
* *
*Aerospace* * *
*97,003*
95,008
+2.1%
* *
*Simulation* * *
*14,161*
11,272
+25.6%
* *
*Vehicle* * *
*2,075*
2,349
-11.7%
* *
*Total* * *
*113,239*
108,630 * *
*+4.2%*
International * *
*62,145* * *
*59,530*
+4.4%
*On the 3rd quarter: +9.6%*
· The *aerospace division *speeds up on Q3 with +4.8% supported by the increase of the engineering activities (development and serie) whereas the product activities are stable under the effect of the decline of the historical programs in commercial aviation and the good performance in business aviation.
· The *simulation division *jumped by 65.2% (+34.5% at constant perimeter) driven by a strong growth of the activity dedicated to automous vehicle (softwares and systems) and the SYDAC acquisition (Australia / India / UK).
· The *vehicle division *diminishes by 13% considering a significant base effect after the Q3 2017 rally which was increasing up by 237%.
* *
*By geographical area* * *
*Turnover on*
*9 months (k€)* * *
*Impact on*
*the turnover*
*Evolution 2018-2017*
* *
*France*
51,094
45.1%
+4.1%
* *
*Europe*
29,884
26.4%
-4.6%
* *
*America*
28,303
25%
+23.7%
* *
*Rest of the world*
3,958
3.5%
-25.9%
The activity noticeably starts again in France on Q3 (+15%). In Europe, it is Germany, after several years of decline, which pulls growth, it has increased considerably since the beginning of the year.
In America, the activity keeps on growing significantly with a sustain growth in the United States and the good performance of the activities in Canada.
* *
* *
*By activity* * *
*Turnover on*
*9 months (k€)* * *
*Impact on*
*the turnover* * *
*Evolution 2018-2017*
* *
*Serie*
50,763
44.8%
+9.5%
* *
*Products*
39,794
35.1%
+6.9%
* *
*Development*
22,682
20%
-9.5%
The position on the serie activities started 6 years ago bears fruits and counterbalances the decline of developments, which is especially noticeable in commercial aviation.
The products keep on progressing and give a medium-long term visibility.
*Perspectives:*
The acceleration of the space and aeronautic activity and the leap forward of the simulation strengthen SOGECLAIR in its growth perspective for 2018 and beyond, the Group is confident in its development perspectives.
*Next announcement: Q4.2018 turnover on February 06^th 2019, following closure of the Stock Market.*
SOGECLAIR is listed on Euronext Paris - Compartment C - Euronext® Family Business index - Code ISIN: FR0000065864 - PEA PME 150
(Reuters SCLR.PA - Bloomberg SOG.FP)
Contacts: Philippe ROBARDEY, President & CEO of SOGECLAIR +33(0)5 61 71 71 71
Marc DAROLLES, Executive Vice-President of SOGECLAIR +33(0)5 61 71 71 71
www.sogeclair.com
*Attachment*
· SOGECLAIR: turnover for the 3rd quarter 2018.pdf Reported by GlobeNewswire 3 hours ago.
*3^rd quarter: +9.6%*
*SOGECLAIR, *the designer of innovative high added-value solutions and products for the aerospace and transport sectors, today reports its turnover over the first 9 months 2018, ending on September 30^th 2018.
The activity, at constant exchange rate, over the first nine months of the year increased by 6.3%.
* *
*By division* *Turnover*
*9 months 2018 (k€)* *Turnover*
*9 months 2017 (k€)* *Variation in %*
*2018-2017*
* *
*Aerospace* * *
*97,003*
95,008
+2.1%
* *
*Simulation* * *
*14,161*
11,272
+25.6%
* *
*Vehicle* * *
*2,075*
2,349
-11.7%
* *
*Total* * *
*113,239*
108,630 * *
*+4.2%*
International * *
*62,145* * *
*59,530*
+4.4%
*On the 3rd quarter: +9.6%*
· The *aerospace division *speeds up on Q3 with +4.8% supported by the increase of the engineering activities (development and serie) whereas the product activities are stable under the effect of the decline of the historical programs in commercial aviation and the good performance in business aviation.
· The *simulation division *jumped by 65.2% (+34.5% at constant perimeter) driven by a strong growth of the activity dedicated to automous vehicle (softwares and systems) and the SYDAC acquisition (Australia / India / UK).
· The *vehicle division *diminishes by 13% considering a significant base effect after the Q3 2017 rally which was increasing up by 237%.
* *
*By geographical area* * *
*Turnover on*
*9 months (k€)* * *
*Impact on*
*the turnover*
*Evolution 2018-2017*
* *
*France*
51,094
45.1%
+4.1%
* *
*Europe*
29,884
26.4%
-4.6%
* *
*America*
28,303
25%
+23.7%
* *
*Rest of the world*
3,958
3.5%
-25.9%
The activity noticeably starts again in France on Q3 (+15%). In Europe, it is Germany, after several years of decline, which pulls growth, it has increased considerably since the beginning of the year.
In America, the activity keeps on growing significantly with a sustain growth in the United States and the good performance of the activities in Canada.
* *
* *
*By activity* * *
*Turnover on*
*9 months (k€)* * *
*Impact on*
*the turnover* * *
*Evolution 2018-2017*
* *
*Serie*
50,763
44.8%
+9.5%
* *
*Products*
39,794
35.1%
+6.9%
* *
*Development*
22,682
20%
-9.5%
The position on the serie activities started 6 years ago bears fruits and counterbalances the decline of developments, which is especially noticeable in commercial aviation.
The products keep on progressing and give a medium-long term visibility.
*Perspectives:*
The acceleration of the space and aeronautic activity and the leap forward of the simulation strengthen SOGECLAIR in its growth perspective for 2018 and beyond, the Group is confident in its development perspectives.
*Next announcement: Q4.2018 turnover on February 06^th 2019, following closure of the Stock Market.*
SOGECLAIR is listed on Euronext Paris - Compartment C - Euronext® Family Business index - Code ISIN: FR0000065864 - PEA PME 150
(Reuters SCLR.PA - Bloomberg SOG.FP)
Contacts: Philippe ROBARDEY, President & CEO of SOGECLAIR +33(0)5 61 71 71 71
Marc DAROLLES, Executive Vice-President of SOGECLAIR +33(0)5 61 71 71 71
www.sogeclair.com
*Attachment*
· SOGECLAIR: turnover for the 3rd quarter 2018.pdf Reported by GlobeNewswire 3 hours ago.
↧
Intertrust successfully prices its offering of EUR 500 million senior unsecured notes due 2025
Amsterdam, the Netherlands - 7 November 2018 - Intertrust N.V. ("Intertrust" or "Company") [Euronext: INTER], a leading global provider of expert administrative services to clients operating and investing in the international business environment, announces today that its subsidiary, Intertrust Group B.V. (the "Issuer"), has successfully priced its offering (the "Offering") of EUR 500 million 7-year senior unsecured notes (the "Notes").
The Notes were sold at an issue price of 100% of their nominal value and carry an annual coupon of 3.375%. The Offering is subject to customary closing conditions and settlement is expected to occur on or around 14 November 2018.
Application has been made for the Notes to be listed on the Official List of the Luxembourg Stock Exchange and to trading on the Euro MTF market of the Luxembourg Stock Exchange.
The Notes have a BB+ rating at Standard & Poor's and a Ba2 rating with Moody's.
The Issuer intends to use the proceeds from the Offering, together with borrowings under a new facilities agreement for the refinancing of its current debt facilities and to pay costs, fees and expenses incurred in connection with the transactions. The new facilities agreement of approximately EUR 435 million matures in 2023. It includes a USD 200 million term loan facility, GBP 100 million term loan facility and multicurrency revolving credit facility of EUR 150 million. The term loan facilities carry an initial interest of LIBOR plus an initial margin of 225bps (subject to reduction based on the actual leverage ratio) and the RCF carries an initial interest margin of LIBOR plus an initial margin of 185bps (subject to reduction based on the actual leverage ratio).
The new capital structure is expected to enable the Company to diversify its sources of financing, extend the debt maturity profile, increase liquidity and improve the currency mix.
*Additional information *
*Investor and media contact*
Intertrust N.V. marieke.palstra@intertrustgroup.com
Marieke Palstra Tel: +31 20 577 1157
Director of Investor Relations and Corporate Communications
*About Intertrust*
Intertrust is a global leader in providing expert administrative services to clients operating and investing in the international business environment. The Company has more than 2,500 employees across 41 offices and 29 jurisdictions in Europe, the Americas, Asia Pacific and the Middle-East. Intertrust has leading market positions in selected key financial markets, including the Netherlands, Luxembourg, Jersey and the Americas. Intertrust delivers high-quality, tailored corporate, fund, capital markets and private wealth services to its clients, with a view to building long-term relationships. The Company works with global law firms and accountancy firms, multinational corporations, financial institutions, fund managers, high net worth individuals and family offices.
For more information on Intertrust visit www.intertrustgroup.com.
*Cautionary notice*
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
The Notes will be offered and sold only (i) in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and (ii) outside the United States in offshore transactions to non-U.S. persons in reliance on Regulation S under the Securities Act, subject to prevailing market and other conditions. There is no assurance that the Offering will be completed or, if completed, as to the terms on which it is completed. This press release is not an offer to sell the Notes in the United States. The Notes to be offered have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S of the Securities Act), absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. If any public offering of the Notes is made in the United States, it will be by means of a prospectus that may be obtained from the Issuer that will contain detailed information about the Issuer, Intertrust, its subsidiaries and management, as well as financial statements. No public offering of the Notes will be made in the United States in connection with the above-mentioned transaction.
The Notes are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive 2002/92/EC (as amended, the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the "Prospectus Directive"). Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. This announcement does not constitute and shall not, in any circumstances, constitute an offering to retail investors. The offer and sale of the Notes in any member state of the EEA will be made pursuant to an exemption under the Prospectus Directive from the requirement to publish a prospectus for offers of notes. The preliminary offering memorandum produced for the Offering is not a prospectus for the purposes of the Prospectus Directive. No prospectus is required in accordance with the Prospectus Directive for the Offering.
This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Notes. Consequently, this communication is directed only at persons who are "qualified investors" (as defined in the Prospectus Directive (as defined herein)) who are (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000 (the "FSMA") in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). The preliminary offering memorandum produced for the Offering is being distributed only to and directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. The preliminary offering memorandum produced for the Offering and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by any recipients to any other person in the United Kingdom. Any person in the United Kingdom that is not a Relevant Person should not act or rely on the preliminary offering memorandum produced for the Offering or its contents.
MiFID II professionals/ECPs-only/ No PRIIPs KID - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
All figures included in this press release are unaudited.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the U.S. federal securities laws and the securities laws of other jurisdictions. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology such as "believe,""estimate,""aim,""anticipate,""expect,""intend,""may,""will,""plans,""continue,""ongoing,""future,""potential,""predict,""project,""guidance,""target,""seek,""could" or "should" or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts; they include statements about Intertrust's beliefs and expectations and the assumptions underlying them.
These forward-looking statements are based on plans, estimates and projections as they are currently available to Intertrust's management. Forward-looking statements therefore speak only as of the date they are made, and Intertrust undertakes no obligation to update any of them in light of new information or future events. Although Intertrust believes that the expectations reflected in such forward-looking statements are reasonable, Intertrust can give no assurance that such expectations will prove to be correct. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. These statements are based on Intertrust's management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
*Attachment*
· Press release_Intertrust_prices_notes_offering_07112018.pdf Reported by GlobeNewswire 3 hours ago.
The Notes were sold at an issue price of 100% of their nominal value and carry an annual coupon of 3.375%. The Offering is subject to customary closing conditions and settlement is expected to occur on or around 14 November 2018.
Application has been made for the Notes to be listed on the Official List of the Luxembourg Stock Exchange and to trading on the Euro MTF market of the Luxembourg Stock Exchange.
The Notes have a BB+ rating at Standard & Poor's and a Ba2 rating with Moody's.
The Issuer intends to use the proceeds from the Offering, together with borrowings under a new facilities agreement for the refinancing of its current debt facilities and to pay costs, fees and expenses incurred in connection with the transactions. The new facilities agreement of approximately EUR 435 million matures in 2023. It includes a USD 200 million term loan facility, GBP 100 million term loan facility and multicurrency revolving credit facility of EUR 150 million. The term loan facilities carry an initial interest of LIBOR plus an initial margin of 225bps (subject to reduction based on the actual leverage ratio) and the RCF carries an initial interest margin of LIBOR plus an initial margin of 185bps (subject to reduction based on the actual leverage ratio).
The new capital structure is expected to enable the Company to diversify its sources of financing, extend the debt maturity profile, increase liquidity and improve the currency mix.
*Additional information *
*Investor and media contact*
Intertrust N.V. marieke.palstra@intertrustgroup.com
Marieke Palstra Tel: +31 20 577 1157
Director of Investor Relations and Corporate Communications
*About Intertrust*
Intertrust is a global leader in providing expert administrative services to clients operating and investing in the international business environment. The Company has more than 2,500 employees across 41 offices and 29 jurisdictions in Europe, the Americas, Asia Pacific and the Middle-East. Intertrust has leading market positions in selected key financial markets, including the Netherlands, Luxembourg, Jersey and the Americas. Intertrust delivers high-quality, tailored corporate, fund, capital markets and private wealth services to its clients, with a view to building long-term relationships. The Company works with global law firms and accountancy firms, multinational corporations, financial institutions, fund managers, high net worth individuals and family offices.
For more information on Intertrust visit www.intertrustgroup.com.
*Cautionary notice*
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
The Notes will be offered and sold only (i) in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and (ii) outside the United States in offshore transactions to non-U.S. persons in reliance on Regulation S under the Securities Act, subject to prevailing market and other conditions. There is no assurance that the Offering will be completed or, if completed, as to the terms on which it is completed. This press release is not an offer to sell the Notes in the United States. The Notes to be offered have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S of the Securities Act), absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. If any public offering of the Notes is made in the United States, it will be by means of a prospectus that may be obtained from the Issuer that will contain detailed information about the Issuer, Intertrust, its subsidiaries and management, as well as financial statements. No public offering of the Notes will be made in the United States in connection with the above-mentioned transaction.
The Notes are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive 2002/92/EC (as amended, the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the "Prospectus Directive"). Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. This announcement does not constitute and shall not, in any circumstances, constitute an offering to retail investors. The offer and sale of the Notes in any member state of the EEA will be made pursuant to an exemption under the Prospectus Directive from the requirement to publish a prospectus for offers of notes. The preliminary offering memorandum produced for the Offering is not a prospectus for the purposes of the Prospectus Directive. No prospectus is required in accordance with the Prospectus Directive for the Offering.
This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Notes. Consequently, this communication is directed only at persons who are "qualified investors" (as defined in the Prospectus Directive (as defined herein)) who are (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000 (the "FSMA") in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). The preliminary offering memorandum produced for the Offering is being distributed only to and directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. The preliminary offering memorandum produced for the Offering and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by any recipients to any other person in the United Kingdom. Any person in the United Kingdom that is not a Relevant Person should not act or rely on the preliminary offering memorandum produced for the Offering or its contents.
MiFID II professionals/ECPs-only/ No PRIIPs KID - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.
All figures included in this press release are unaudited.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the U.S. federal securities laws and the securities laws of other jurisdictions. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology such as "believe,""estimate,""aim,""anticipate,""expect,""intend,""may,""will,""plans,""continue,""ongoing,""future,""potential,""predict,""project,""guidance,""target,""seek,""could" or "should" or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts; they include statements about Intertrust's beliefs and expectations and the assumptions underlying them.
These forward-looking statements are based on plans, estimates and projections as they are currently available to Intertrust's management. Forward-looking statements therefore speak only as of the date they are made, and Intertrust undertakes no obligation to update any of them in light of new information or future events. Although Intertrust believes that the expectations reflected in such forward-looking statements are reasonable, Intertrust can give no assurance that such expectations will prove to be correct. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. These statements are based on Intertrust's management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
*Attachment*
· Press release_Intertrust_prices_notes_offering_07112018.pdf Reported by GlobeNewswire 3 hours ago.
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↧
Mount Sinai and AllerGenis, LLC Announce Partnership to Bring Novel, Precision Diagnostics to Food Allergy Patients
New Diagnostic Technology Will Provide Information to Both Patients and Clinicians
New York, NY (PRWEB) November 07, 2018
- More than 30 million people in the United States and Europe have food allergies, according to the National Institute of Allergy and Infectious Diseases, National Institutes of Health.· AllerGenis’ food allergy diagnostic technology uses the epitope mapping platform developed by Hugh Sampson, MD, Director Emeritus of the Elliot and Roslyn Jaffe Food Allergy Institute at the Icahn School of Medicine at Mount Sinai (ISMMS).
· The technology will provide an improved method for detecting, assessing, and monitoring food allergies in patients.
AllerGenis, LLC, a data-driven diagnostic company, announced a partnership agreement with Mount Sinai Health System to develop and commercialize technology for improved food allergy detection and patient management. The diagnostic technology will provide information to both patients and clinicians.
Through this partnership, Mount Sinai has licensed its proprietary epitope mapping platform to AllerGenis. Epitope mapping is the process of identifying the binding site of an antibody on its target antigen and is instrumental in the development of this new level of diagnostics. AllerGenis will use the platform to bring novel precision diagnostics to clinicians treating patients with food allergies. Its first product will be a peanut allergy assay, which will be available in the fall of 2019, followed by a pipeline of assays for other common food allergies including milk, egg, shellfish, and tree nuts.
“We are pleased to partner with Mount Sinai on this transformational new diagnostic and further improve the lives of patients living with food allergies,” said Jim Garner, CEO and board member of AllerGenis. “The information produced by epitope mapping provides the greatest precision for food allergy assessment, with the capacity to offer definitive diagnostic, prognostic and, in the near term, predictive results reporting.”
The epitope mapping platform is based on immunologic research conducted by Hugh Sampson, MD, Director Emeritus of the Elliot and Roslyn Jaffe Food Allergy Institute at the Icahn School of Medicine at Mount Sinai. The platform subdivides protein allergens into smaller peptides, called epitopes, and measures the reactivity of a patient’s antibody levels to these epitopes. Each patient will have a unique epitope reactivity signature. AllerGenis is curating a growing database of human epitope signatures, which will help providers better assess and manage patients with food allergies.
“AllerGenis’ diagnostic technology, using epitope mapping, is expected to expand our ability to accurately diagnose patients with food allergies and, at the same time, should markedly decrease misdiagnosis,” says Dr. Sampson. “Moreover, it should greatly narrow down the number of people who would have to submit to an oral food challenge, which can potentially be extremely risky for food allergy patients.”
More than 30 million people in the United States and Europe have food allergies. Eight percent of U.S. children are estimated to have a food allergy, and one in 13 U.S. children are at risk for life-threatening anaphylaxis, underscoring the urgent need for new therapies and diagnostics to accurately assess and manage patients living with food allergies.
“We’re pleased to partner with AllerGenis on a research discovery with the potential to alleviate highly detrimental allergic reactions in both children and adults,” said Erik Lium, PhD, Executive Vice President of Mount Sinai Innovation Partners. “This technology exemplifies Mount Sinai’s commitment to innovation and to translational research on the cutting-edge.”
About AllerGenis
Established in 2017 and located in Hatfield, PA, AllerGenis develops precision, data-driven diagnostics to help healthcare providers more accurately and safely diagnose, assess and monitor patients with food allergies. The company was founded out of a collaboration between Genisphere, provider of the 3DNA® platform for targeted drug delivery, and Hugh Sampson MD, of the Elliot and Roslyn Jaffe Food Allergy Institute of the Icahn School of Medicine at Mount Sinai. AllerGenis’ proprietary epitope mapping technology is based on immunological research by Dr. Sampson and leverages Genisphere’s expertise in improving sensitivity of diagnostic tests. AllerGenis is creating the largest food allergy knowledge base populated by individual patient epitope signatures derived from epitope mapping, clinical history, and patient-reported outcomes to gain clinical insights.
For more information, visit https://www.allergenis.com.
About Mount Sinai Innovation Partners (MSIP)
MSIP is responsible for driving the real-world application and commercialization of Mount Sinai discoveries and inventions, and the development of research partnerships with industry. Our aim is to translate discoveries and inventions into health care products and services that benefit patients and society. MSIP is accountable for the full spectrum of commercialization activities required to bring Mount Sinai inventions to life. These activities include evaluating, patenting, marketing and licensing new technologies building research, collaborations and partnerships with commercial and nonprofit entities, material transfer and confidentiality, coaching innovators to advance commercially-relevant translational discoveries, and actively fostering an ecosystem of entrepreneurship within the Mount Sinai research and health system communities. For more information, visit http://www.ip.mountsinai.org.
About Mount Sinai Health System
The Mount Sinai Health System is New York City’s largest integrated delivery system encompassing seven hospital campuses, a leading medical school, and a vast network of ambulatory practices throughout the greater New York region. Mount Sinai’s vision is to produce the safest care, the highest quality, the highest satisfaction, the best access and the best value of any health system in the nation. The System includes approximately 6,600 primary and specialty care physicians; 11 joint-venture ambulatory surgery centers; more than 140 ambulatory practices throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and 31 affiliated community health centers. The Icahn School of Medicine is one of three medical schools that have earned distinction by multiple indicators: ranked in the top 20 by U.S. News & World Report’s “Best Medical Schools”, aligned with a U.S. News & World Report’s “Honor Roll” Hospital, it is ranked as a leading medical school for National Institutes of Health funding, and among the top 10 most innovative research institutions as ranked by the journal Nature in its Nature Innovation Index. This reflects a special level of excellence in education, clinical practice, and research. The Mount Sinai Hospital is ranked No. 18 on U.S. News & World Report’s “Honor Roll” of top U.S. hospitals; it is one of the nation’s top 20 hospitals in Cardiology/Heart Surgery, Gastroenterology/GI Surgery, Geriatrics, Nephrology, and Neurology/Neurosurgery, and in the top 50 in six other specialties in the 2018-2019 “Best Hospitals” issue. Mount Sinai’s Kravis Children’s Hospital also is ranked nationally in five out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 11th nationally for Ophthalmology and 44th for Ear, Nose, and Throat, while Mount Sinai Beth Israel, Mount Sinai St. Luke’s and Mount Sinai West are ranked regionally. For more information, visit http://www.mountsinai.org/, or find Mount Sinai on Facebook, Twitter and YouTube. Reported by PRWeb 3 hours ago.
New York, NY (PRWEB) November 07, 2018
- More than 30 million people in the United States and Europe have food allergies, according to the National Institute of Allergy and Infectious Diseases, National Institutes of Health.· AllerGenis’ food allergy diagnostic technology uses the epitope mapping platform developed by Hugh Sampson, MD, Director Emeritus of the Elliot and Roslyn Jaffe Food Allergy Institute at the Icahn School of Medicine at Mount Sinai (ISMMS).
· The technology will provide an improved method for detecting, assessing, and monitoring food allergies in patients.
AllerGenis, LLC, a data-driven diagnostic company, announced a partnership agreement with Mount Sinai Health System to develop and commercialize technology for improved food allergy detection and patient management. The diagnostic technology will provide information to both patients and clinicians.
Through this partnership, Mount Sinai has licensed its proprietary epitope mapping platform to AllerGenis. Epitope mapping is the process of identifying the binding site of an antibody on its target antigen and is instrumental in the development of this new level of diagnostics. AllerGenis will use the platform to bring novel precision diagnostics to clinicians treating patients with food allergies. Its first product will be a peanut allergy assay, which will be available in the fall of 2019, followed by a pipeline of assays for other common food allergies including milk, egg, shellfish, and tree nuts.
“We are pleased to partner with Mount Sinai on this transformational new diagnostic and further improve the lives of patients living with food allergies,” said Jim Garner, CEO and board member of AllerGenis. “The information produced by epitope mapping provides the greatest precision for food allergy assessment, with the capacity to offer definitive diagnostic, prognostic and, in the near term, predictive results reporting.”
The epitope mapping platform is based on immunologic research conducted by Hugh Sampson, MD, Director Emeritus of the Elliot and Roslyn Jaffe Food Allergy Institute at the Icahn School of Medicine at Mount Sinai. The platform subdivides protein allergens into smaller peptides, called epitopes, and measures the reactivity of a patient’s antibody levels to these epitopes. Each patient will have a unique epitope reactivity signature. AllerGenis is curating a growing database of human epitope signatures, which will help providers better assess and manage patients with food allergies.
“AllerGenis’ diagnostic technology, using epitope mapping, is expected to expand our ability to accurately diagnose patients with food allergies and, at the same time, should markedly decrease misdiagnosis,” says Dr. Sampson. “Moreover, it should greatly narrow down the number of people who would have to submit to an oral food challenge, which can potentially be extremely risky for food allergy patients.”
More than 30 million people in the United States and Europe have food allergies. Eight percent of U.S. children are estimated to have a food allergy, and one in 13 U.S. children are at risk for life-threatening anaphylaxis, underscoring the urgent need for new therapies and diagnostics to accurately assess and manage patients living with food allergies.
“We’re pleased to partner with AllerGenis on a research discovery with the potential to alleviate highly detrimental allergic reactions in both children and adults,” said Erik Lium, PhD, Executive Vice President of Mount Sinai Innovation Partners. “This technology exemplifies Mount Sinai’s commitment to innovation and to translational research on the cutting-edge.”
About AllerGenis
Established in 2017 and located in Hatfield, PA, AllerGenis develops precision, data-driven diagnostics to help healthcare providers more accurately and safely diagnose, assess and monitor patients with food allergies. The company was founded out of a collaboration between Genisphere, provider of the 3DNA® platform for targeted drug delivery, and Hugh Sampson MD, of the Elliot and Roslyn Jaffe Food Allergy Institute of the Icahn School of Medicine at Mount Sinai. AllerGenis’ proprietary epitope mapping technology is based on immunological research by Dr. Sampson and leverages Genisphere’s expertise in improving sensitivity of diagnostic tests. AllerGenis is creating the largest food allergy knowledge base populated by individual patient epitope signatures derived from epitope mapping, clinical history, and patient-reported outcomes to gain clinical insights.
For more information, visit https://www.allergenis.com.
About Mount Sinai Innovation Partners (MSIP)
MSIP is responsible for driving the real-world application and commercialization of Mount Sinai discoveries and inventions, and the development of research partnerships with industry. Our aim is to translate discoveries and inventions into health care products and services that benefit patients and society. MSIP is accountable for the full spectrum of commercialization activities required to bring Mount Sinai inventions to life. These activities include evaluating, patenting, marketing and licensing new technologies building research, collaborations and partnerships with commercial and nonprofit entities, material transfer and confidentiality, coaching innovators to advance commercially-relevant translational discoveries, and actively fostering an ecosystem of entrepreneurship within the Mount Sinai research and health system communities. For more information, visit http://www.ip.mountsinai.org.
About Mount Sinai Health System
The Mount Sinai Health System is New York City’s largest integrated delivery system encompassing seven hospital campuses, a leading medical school, and a vast network of ambulatory practices throughout the greater New York region. Mount Sinai’s vision is to produce the safest care, the highest quality, the highest satisfaction, the best access and the best value of any health system in the nation. The System includes approximately 6,600 primary and specialty care physicians; 11 joint-venture ambulatory surgery centers; more than 140 ambulatory practices throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and 31 affiliated community health centers. The Icahn School of Medicine is one of three medical schools that have earned distinction by multiple indicators: ranked in the top 20 by U.S. News & World Report’s “Best Medical Schools”, aligned with a U.S. News & World Report’s “Honor Roll” Hospital, it is ranked as a leading medical school for National Institutes of Health funding, and among the top 10 most innovative research institutions as ranked by the journal Nature in its Nature Innovation Index. This reflects a special level of excellence in education, clinical practice, and research. The Mount Sinai Hospital is ranked No. 18 on U.S. News & World Report’s “Honor Roll” of top U.S. hospitals; it is one of the nation’s top 20 hospitals in Cardiology/Heart Surgery, Gastroenterology/GI Surgery, Geriatrics, Nephrology, and Neurology/Neurosurgery, and in the top 50 in six other specialties in the 2018-2019 “Best Hospitals” issue. Mount Sinai’s Kravis Children’s Hospital also is ranked nationally in five out of ten pediatric specialties by U.S. News & World Report. The New York Eye and Ear Infirmary of Mount Sinai is ranked 11th nationally for Ophthalmology and 44th for Ear, Nose, and Throat, while Mount Sinai Beth Israel, Mount Sinai St. Luke’s and Mount Sinai West are ranked regionally. For more information, visit http://www.mountsinai.org/, or find Mount Sinai on Facebook, Twitter and YouTube. Reported by PRWeb 3 hours ago.
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Maisons du Monde: Third-quarter 2018 sales
*PRESS RELEASE*
*MAISONS DU MONDE: THIRD-QUARTER 2018 SALES*
*Solid Q3 sales growth and positive like-for-like in an anticipated soft trading environment*
*Full-year 2018 targets updated*
_________________________________________
· *Q3 2018 sales up 8.6% to €260 million including Modani and up 5.0% at constant perimeter; year-to-date sales up 10.2%, of which +8.1% at constant perimeter*
· *Like-for-like sales growth of 1.1% at constant perimeter in Q3 2018, and 3.6% year-to-date, reflecting a challenging base effect and the anticipated soft trading environment in France*
· *Continued strong momentum in online (+17.6%) and international (+11.5%) sales in Q3 2018, which account year-to-date for 24% and 41% of sales respectively*
· *5 net store openings in Q3 2018, and 12 year-to-date (of which 8 outside France)*
· *FY 2018 targets updated:*
· *At constant perimeter, sales growth now expected to be between 7% and 8%*
· *Including Modani, sales growth now expected to be between 9% and 10%*
· *Net store openings:*
· *At constant perimeter: 22 net store openings*
· *Including Modani: 25 net store openings*
· *EBITDA guidance unchanged in absolute value, both at constant perimeter and including Modani*
*Julie Walbaum, CEO and Arnaud Louet, CFO will host a conference call for analysts and investors on Wednesday, 7 November 2018 at 06:30pm CET*
_________________________________________
*Nantes, 7 November 2018*
Maisons du Monde (Euronext Paris: MDM, ISIN Code: FR0013153541), a European leader in affordable and inspirational decoration and furniture homeware, today announces its third-quarter 2018 sales.
Julie Walbaum, Chief Executive Officer of Maisons du Monde, commented:
"Maisons du Monde's third-quarter performance demonstrated the robustness of our business model and omnichannel strategy. Growth momentum remained strong in online sales and international business, which both grew at double-digit rates, offsetting the anticipated soft retail environment in stores in France and an unfavorable base effect. Thanks to its successful integration, Modani also contributed to the overall sales growth in the third quarter.
We expect trends this quarter to be broadly in line with those in Q3, with strong international and online sales and a continued softer environment in stores in France. Reflecting this, we have slightly updated our full-year 2018 sales target. Despite a more cautious outlook on sales growth, we maintain our previous EBITDA guidance in absolute value, both at constant perimeter and including Modani.
We have also updated our forecast for net openings and we now expect to open 22 Maisons du Monde stores. This includes a first test of the Maisons du Monde concept in the US, with the opening of a store in Miami before the end of the year.
In this key fourth quarter, Maisons du Monde's teams are fully focused on implementing the Group's omnichannel strategy and its commercial initiatives, while pursuing its expansion plan both in France and abroad."
*****
*Q3 2018 performance reflecting the anticipated soft trading environment*
In the third quarter of 2018, Maisons du Monde posted total sales of €260 million, up 8.6% year-on-year including Modani and up 5.0% at constant perimeter. Like-for-like sales growth was 1.1% at constant perimeter, on a challenging comparable base (LFL growth of 10.3% in Q3 2017) and negative calendar effect. This performance was also consistent with the anticipated soft trading environment in stores in France.
The quarter saw continued strong momentum in online sales, up 17.6% year-on-year (24% of sales), as well as international business, up 11.5% year-on-year (41% of sales), confirming the robustness of the Group's business model and omnichannel strategy.
Maisons du Monde also continued to propose an attractive offer for customers. In addition to the autumn-winter decoration collection, highlights included the launch of the first lighting catalogue, a capsule collection in partnership with Chantal Thomass, as well as a collection for pets. Moreover, the Group successfully deployed the in-store and digital Home Decoration Advice Services, which includes a 3D app allowing customers to visualize their furniture items at home.
Furthermore, Maisons du Monde continued to implement its development plan, with 5 net store openings in the quarter (7 gross openings, of which 5 outside France, and 2 closures for relocation in France). The opening of a flagship store in the city center of Madrid (Spain) further cemented the Group's store network expansion strategy. In addition, a new store under franchise was opened in August 2018 in Dubai, bringing the total to seven worldwide.
Lastly, since its acquisition last May, Modani has performed in line with expectations and commercial synergies have continued to be implemented. Three new showrooms were also opened in July 2018, bringing the total to 13 in the US.
*Continued strong online and international momentum in 9M 2018*
In the first nine months of 2018, Maisons du Monde reported total sales of €767 million, up 10.2% year-on-year including Modani and up 8.1% at constant perimeter. Like-for-like sales growth reached 3.6% at constant perimeter on a challenging comparable base (LFL growth of 9.4% in 9M 2017) and a soft trading environment in France, particularly in the third quarter. Growth momentum remained strong in online sales, up 17.7% year-on-year, and international business, up 12.9% year-on-year. Online now accounts for 24% of sales and 41% of our sales are generated outside of France, demonstrating the success of the Group's omnichannel and international strategy.
In the first nine months, Maisons du Monde recorded 12 net store openings, reflecting 18 gross openings (of which 9 outside France and 5 shop-in-shops) and 6 closures for relocation (of which 5 in France). As of 30 September 2018, the Group operated 325 stores across eight markets in Europe.
*Full-year 2018 targets updated*
Based on its third-quarter and nine-month 2018 performance and its expectations for the fourth quarter, Maisons du Monde updates its full-year 2018 targets:
· At constant perimeter, sales growth now expected to be between 7% and 8%;
· Including Modani, sales growth now expected to be between 9% and 10%;
· Net store openings:
· At constant perimeter: 22 net store openings;
· Including Modani: 25 net store openings;
· EBITDA guidance unchanged in absolute value, both at constant perimeter and including Modani.
*****
*Details of the conference call and webcast*
Julie Walbaum, CEO and Arnaud Louet, CFO will host a conference call and webcast to review Maisons du Monde's Q3 & 9M 2018 performance on Wednesday, 7 November at 06:30pm CET (05:30pm GMT). The presentation slides will be available prior to the start of the live event on the Company's website at https://corporate.maisonsdumonde.com/en.
To access the conference call, please dial in 10 minutes before the scheduled start time of the live event using the following confirmation code and dial-in numbers:
*Confirmation code* *703 62 26*
France +33 (0)1 76 77 22 57
United Kingdom +44 (0)330 336 9411
United States +1 929 477 0448
Germany +49 (0)69 2222 2018
Italy +39 02 3600 9838
Spain +34 91 419 2514
Switzerland +41 (0)22 567 5750
The event will be webcast live and can be accessed at https://edge.media-server.com/m6/p/ibsay2by.
A replay of the audio webcast will be available approximately two hours after the end of the live event for a period of one year and can be accessed at https://edge.media-server.com/m6/p/ibsay2by
*****
*APPENDICES*
*Summary of Q3 2018 sales for Maisons du Monde*^[1]
* * *Three months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *239.3* *251.2* *+5.0%*
% like-for-like change +10.3% +1.1% -
* * * * * * * *
*Sales by geography* * * * * * *
France 146.3 147.6 +0.8%
International 92.9 103.6 +11.5%
*Total* *239.3* *251.2* *+5.0%*
* *
France (%) 61.2% 58.8% -
International (%) 38.8% 41.2% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by distribution channel* * * * * * *
Stores 188.1 190.9 +1.5%
Online 51.2 60.2 +17.6%
*Total* *239.3* *251.2* *+5.0%*
* *
Stores (%) 78.6% 76.0% -
Online (%) 21.4% 24.0% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by product category* * * * * * *
Decoration 134.7 135.6 +0.7%
Furniture 104.6 115.6 +10.5%
*Total* *239.3* *251.2* *+5.0%*
* *
Decoration (%) 56.3% 54.0% -
Furniture (%) 43.7% 46.0% -
*Total (%)* *100.0%* *100.0%* *-*
*Summary of 9M 2018 sales for Maisons du Monde*^[2]
* * *Nine months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *695.9* *752.4* *+8.1%*
% like-for-like change +9.4% +3.6% -
* * * * * * * *
*Sales by geography* * * * * * *
France 425.3 446.9 +5.1%
International 270.5 305.4 +12.9%
*Total* *695.9* *752.4* *+8.1%*
* *
France (%) 61.1% 59.4% -
International (%) 38.9% 40.6% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by distribution channel* * * * * * *
Stores 542.6 571.9 +5.4%
Online 153.2 180.4 +17.7%
*Total* *695.9* *752.4* *+8.1%*
* *
Stores (%) 78.0% 76.0% -
Online (%) 22.0% 24.0% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by product category* * * * * * *
Decoration 377.6 399.9 +5.9%
Furniture 318.3 352.5 +10.7%
*Total* *695.9* *752.4* *+8.1%*
* *
Decoration (%) 54.3% 53.2% -
Furniture (%) 45.7% 46.8% -
*Total (%)* *100.0%* *100.0%* *-*
*Key Q3 2018 financial metrics*
* * *Three months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *239.3* *259.8* *+8.6%*
Of which Maisons du Monde 239.3 251.2 +5.0%
% like-for-like change +10.3% +1.1% -
Modani - 8.6 n/a
*Key 9M 2018 financial metrics*
* * *Nine months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *695.9* *766.8* *+10.2%*
Of which Maisons du Monde 695.9 752.4 +8.1%
% like-for-like change +9.4% +3.6% -
Modani - 14.5 n/a
*Evolution of the Maisons du Monde store network*^[3]
* * *Period ended*
*In unit* *31-Dec-17* * * *31-Mar-18* *30-Jun-18* *30-Sept-18* * * *30-Sept-18*
France 212 213 216 216 216
Italy 42 42 42 45 45
Belgium 22 21 21 21 21
Spain 20 20 20 21 21
Luxembourg 2 2 3 3 3
Germany 9 9 9 9 9
Switzerland 6 6 6 6 6
United Kingdom - - 3 4 4
* * * * * * * * * * * * * *
*Number of stores* *313* * * *313* *320* *325* * * *325*
Net store openings - - +7 +5 +12
*Sales area (K sqm)* *363.0* * * *365.4* *371.0* *376.5* * * *376.5*
Change (K sqm) +2.4 +5.6 +5.5 +13.5
*****
*Key operating metrics*
Besides the financial indicators set out in International Financial Reporting Standards (IFRS), Maisons du Monde's management uses several key metrics to evaluate, monitor and manage its business. The non-IFRS operational and statistical information related to Group's operations included in this press release is unaudited and has been taken from internal reporting systems. Although none of these metrics are measures of financial performance under IFRS, the Group believes that they provide important insight into the operations and strength of its business. These metrics may not be comparable to similar terms used by competitors or other companies.
· *Sales:* Represent the revenue from sales of decorative items and furniture through the Group's retail stores, websites and BtoB activities. They mainly exclude (i) customer contribution to delivery costs, (ii) revenue for logistics services provided to third parties, and (iii) franchise revenue. The Group uses the concept of "sales" rather than "total revenue" to calculate like-for-like growth, gross margin, EBITDA margin and EBIT margin.
· *Like-for-like sales growth:* Represents the percentage change in sales from the Group's retail stores, websites and BtoB activities, net of product returns between one financial period (n) and the comparable preceding financial period (n-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.
· *Gross margin:* Is defined as sales minus cost of sales. Gross margin is also expressed as a percentage of sales.
· *EBITDA:* Is defined as current operating profit, excluding (i) depreciation, amortization, and allowance for provisions, (ii) the change in the fair value of derivative financial instruments, and (iii) store pre-opening expenses.
· *EBIT:* Is defined as EBITDA after depreciation, amortization, and allowance for provisions.
· *Net debt:* Is defined as the Group's convertible bonds ("OCEANE"), term loan, revolving credit facilities, finance lease debt, deposits and bank borrowings, net of cash and cash equivalents.
· *Leverage ratio:* Is defined as net debt divided by EBITDA (including Modani on a pro forma basis for the period, excluding the liabilities from the earn-out and the put option).
*****
*Financial calendar*^[4]
*12 March 2019* Full-year 2018 results (press release and conference call after market close)
*****
*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 an integrated and complementary omnichannel approach, leveraging its international network of stores, websites and catalogues. The Group was founded in France in 1996 and has profitably expanded across Europe since 2003. The Group posted sales of €1,011 million and EBITDA of €139 million for the year ended 31 December 2017. In 2017, the Group operated 313 stores in seven countries including France, Italy, Spain, Belgium, Germany, Switzerland, and Luxembourg, and derived over 38% of its sales from outside France. The Group has also built a successful complementary and comprehensive online shopping website, sales from which grew 35% per year on average between 2010 and 2017. The website is available in eleven countries: the seven countries where the Group operates stores plus Austria, the Netherlands, Portugal and the United Kingdom. In 2017, online sales represented 21% of the Group's sales.
corporate.maisonsdumonde.com
*****
*Contacts*
*Investor Relations* *Press Relations*
Laurent Sfaxi - +33 2 51 71 52 07 Clémentine Prat - +33 2 51 79 54 08
lsfaxi@maisonsdumonde.com cprat@maisonsdumonde.com
^[1] Excluding Modani.
^[2] Excluding Modani.
^[3] Excluding Modani.
^[4] Indicative timetable.
*Attachment*
· PDF Version.pdf Reported by GlobeNewswire 3 hours ago.
*MAISONS DU MONDE: THIRD-QUARTER 2018 SALES*
*Solid Q3 sales growth and positive like-for-like in an anticipated soft trading environment*
*Full-year 2018 targets updated*
_________________________________________
· *Q3 2018 sales up 8.6% to €260 million including Modani and up 5.0% at constant perimeter; year-to-date sales up 10.2%, of which +8.1% at constant perimeter*
· *Like-for-like sales growth of 1.1% at constant perimeter in Q3 2018, and 3.6% year-to-date, reflecting a challenging base effect and the anticipated soft trading environment in France*
· *Continued strong momentum in online (+17.6%) and international (+11.5%) sales in Q3 2018, which account year-to-date for 24% and 41% of sales respectively*
· *5 net store openings in Q3 2018, and 12 year-to-date (of which 8 outside France)*
· *FY 2018 targets updated:*
· *At constant perimeter, sales growth now expected to be between 7% and 8%*
· *Including Modani, sales growth now expected to be between 9% and 10%*
· *Net store openings:*
· *At constant perimeter: 22 net store openings*
· *Including Modani: 25 net store openings*
· *EBITDA guidance unchanged in absolute value, both at constant perimeter and including Modani*
*Julie Walbaum, CEO and Arnaud Louet, CFO will host a conference call for analysts and investors on Wednesday, 7 November 2018 at 06:30pm CET*
_________________________________________
*Nantes, 7 November 2018*
Maisons du Monde (Euronext Paris: MDM, ISIN Code: FR0013153541), a European leader in affordable and inspirational decoration and furniture homeware, today announces its third-quarter 2018 sales.
Julie Walbaum, Chief Executive Officer of Maisons du Monde, commented:
"Maisons du Monde's third-quarter performance demonstrated the robustness of our business model and omnichannel strategy. Growth momentum remained strong in online sales and international business, which both grew at double-digit rates, offsetting the anticipated soft retail environment in stores in France and an unfavorable base effect. Thanks to its successful integration, Modani also contributed to the overall sales growth in the third quarter.
We expect trends this quarter to be broadly in line with those in Q3, with strong international and online sales and a continued softer environment in stores in France. Reflecting this, we have slightly updated our full-year 2018 sales target. Despite a more cautious outlook on sales growth, we maintain our previous EBITDA guidance in absolute value, both at constant perimeter and including Modani.
We have also updated our forecast for net openings and we now expect to open 22 Maisons du Monde stores. This includes a first test of the Maisons du Monde concept in the US, with the opening of a store in Miami before the end of the year.
In this key fourth quarter, Maisons du Monde's teams are fully focused on implementing the Group's omnichannel strategy and its commercial initiatives, while pursuing its expansion plan both in France and abroad."
*****
*Q3 2018 performance reflecting the anticipated soft trading environment*
In the third quarter of 2018, Maisons du Monde posted total sales of €260 million, up 8.6% year-on-year including Modani and up 5.0% at constant perimeter. Like-for-like sales growth was 1.1% at constant perimeter, on a challenging comparable base (LFL growth of 10.3% in Q3 2017) and negative calendar effect. This performance was also consistent with the anticipated soft trading environment in stores in France.
The quarter saw continued strong momentum in online sales, up 17.6% year-on-year (24% of sales), as well as international business, up 11.5% year-on-year (41% of sales), confirming the robustness of the Group's business model and omnichannel strategy.
Maisons du Monde also continued to propose an attractive offer for customers. In addition to the autumn-winter decoration collection, highlights included the launch of the first lighting catalogue, a capsule collection in partnership with Chantal Thomass, as well as a collection for pets. Moreover, the Group successfully deployed the in-store and digital Home Decoration Advice Services, which includes a 3D app allowing customers to visualize their furniture items at home.
Furthermore, Maisons du Monde continued to implement its development plan, with 5 net store openings in the quarter (7 gross openings, of which 5 outside France, and 2 closures for relocation in France). The opening of a flagship store in the city center of Madrid (Spain) further cemented the Group's store network expansion strategy. In addition, a new store under franchise was opened in August 2018 in Dubai, bringing the total to seven worldwide.
Lastly, since its acquisition last May, Modani has performed in line with expectations and commercial synergies have continued to be implemented. Three new showrooms were also opened in July 2018, bringing the total to 13 in the US.
*Continued strong online and international momentum in 9M 2018*
In the first nine months of 2018, Maisons du Monde reported total sales of €767 million, up 10.2% year-on-year including Modani and up 8.1% at constant perimeter. Like-for-like sales growth reached 3.6% at constant perimeter on a challenging comparable base (LFL growth of 9.4% in 9M 2017) and a soft trading environment in France, particularly in the third quarter. Growth momentum remained strong in online sales, up 17.7% year-on-year, and international business, up 12.9% year-on-year. Online now accounts for 24% of sales and 41% of our sales are generated outside of France, demonstrating the success of the Group's omnichannel and international strategy.
In the first nine months, Maisons du Monde recorded 12 net store openings, reflecting 18 gross openings (of which 9 outside France and 5 shop-in-shops) and 6 closures for relocation (of which 5 in France). As of 30 September 2018, the Group operated 325 stores across eight markets in Europe.
*Full-year 2018 targets updated*
Based on its third-quarter and nine-month 2018 performance and its expectations for the fourth quarter, Maisons du Monde updates its full-year 2018 targets:
· At constant perimeter, sales growth now expected to be between 7% and 8%;
· Including Modani, sales growth now expected to be between 9% and 10%;
· Net store openings:
· At constant perimeter: 22 net store openings;
· Including Modani: 25 net store openings;
· EBITDA guidance unchanged in absolute value, both at constant perimeter and including Modani.
*****
*Details of the conference call and webcast*
Julie Walbaum, CEO and Arnaud Louet, CFO will host a conference call and webcast to review Maisons du Monde's Q3 & 9M 2018 performance on Wednesday, 7 November at 06:30pm CET (05:30pm GMT). The presentation slides will be available prior to the start of the live event on the Company's website at https://corporate.maisonsdumonde.com/en.
To access the conference call, please dial in 10 minutes before the scheduled start time of the live event using the following confirmation code and dial-in numbers:
*Confirmation code* *703 62 26*
France +33 (0)1 76 77 22 57
United Kingdom +44 (0)330 336 9411
United States +1 929 477 0448
Germany +49 (0)69 2222 2018
Italy +39 02 3600 9838
Spain +34 91 419 2514
Switzerland +41 (0)22 567 5750
The event will be webcast live and can be accessed at https://edge.media-server.com/m6/p/ibsay2by.
A replay of the audio webcast will be available approximately two hours after the end of the live event for a period of one year and can be accessed at https://edge.media-server.com/m6/p/ibsay2by
*****
*APPENDICES*
*Summary of Q3 2018 sales for Maisons du Monde*^[1]
* * *Three months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *239.3* *251.2* *+5.0%*
% like-for-like change +10.3% +1.1% -
* * * * * * * *
*Sales by geography* * * * * * *
France 146.3 147.6 +0.8%
International 92.9 103.6 +11.5%
*Total* *239.3* *251.2* *+5.0%*
* *
France (%) 61.2% 58.8% -
International (%) 38.8% 41.2% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by distribution channel* * * * * * *
Stores 188.1 190.9 +1.5%
Online 51.2 60.2 +17.6%
*Total* *239.3* *251.2* *+5.0%*
* *
Stores (%) 78.6% 76.0% -
Online (%) 21.4% 24.0% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by product category* * * * * * *
Decoration 134.7 135.6 +0.7%
Furniture 104.6 115.6 +10.5%
*Total* *239.3* *251.2* *+5.0%*
* *
Decoration (%) 56.3% 54.0% -
Furniture (%) 43.7% 46.0% -
*Total (%)* *100.0%* *100.0%* *-*
*Summary of 9M 2018 sales for Maisons du Monde*^[2]
* * *Nine months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *695.9* *752.4* *+8.1%*
% like-for-like change +9.4% +3.6% -
* * * * * * * *
*Sales by geography* * * * * * *
France 425.3 446.9 +5.1%
International 270.5 305.4 +12.9%
*Total* *695.9* *752.4* *+8.1%*
* *
France (%) 61.1% 59.4% -
International (%) 38.9% 40.6% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by distribution channel* * * * * * *
Stores 542.6 571.9 +5.4%
Online 153.2 180.4 +17.7%
*Total* *695.9* *752.4* *+8.1%*
* *
Stores (%) 78.0% 76.0% -
Online (%) 22.0% 24.0% -
*Total (%)* *100.0%* *100.0%* *-*
* *
*Sales by product category* * * * * * *
Decoration 377.6 399.9 +5.9%
Furniture 318.3 352.5 +10.7%
*Total* *695.9* *752.4* *+8.1%*
* *
Decoration (%) 54.3% 53.2% -
Furniture (%) 45.7% 46.8% -
*Total (%)* *100.0%* *100.0%* *-*
*Key Q3 2018 financial metrics*
* * *Three months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *239.3* *259.8* *+8.6%*
Of which Maisons du Monde 239.3 251.2 +5.0%
% like-for-like change +10.3% +1.1% -
Modani - 8.6 n/a
*Key 9M 2018 financial metrics*
* * *Nine months ended 30 September*
*In € million* *2017* *2018* *% change*
*Sales* *695.9* *766.8* *+10.2%*
Of which Maisons du Monde 695.9 752.4 +8.1%
% like-for-like change +9.4% +3.6% -
Modani - 14.5 n/a
*Evolution of the Maisons du Monde store network*^[3]
* * *Period ended*
*In unit* *31-Dec-17* * * *31-Mar-18* *30-Jun-18* *30-Sept-18* * * *30-Sept-18*
France 212 213 216 216 216
Italy 42 42 42 45 45
Belgium 22 21 21 21 21
Spain 20 20 20 21 21
Luxembourg 2 2 3 3 3
Germany 9 9 9 9 9
Switzerland 6 6 6 6 6
United Kingdom - - 3 4 4
* * * * * * * * * * * * * *
*Number of stores* *313* * * *313* *320* *325* * * *325*
Net store openings - - +7 +5 +12
*Sales area (K sqm)* *363.0* * * *365.4* *371.0* *376.5* * * *376.5*
Change (K sqm) +2.4 +5.6 +5.5 +13.5
*****
*Key operating metrics*
Besides the financial indicators set out in International Financial Reporting Standards (IFRS), Maisons du Monde's management uses several key metrics to evaluate, monitor and manage its business. The non-IFRS operational and statistical information related to Group's operations included in this press release is unaudited and has been taken from internal reporting systems. Although none of these metrics are measures of financial performance under IFRS, the Group believes that they provide important insight into the operations and strength of its business. These metrics may not be comparable to similar terms used by competitors or other companies.
· *Sales:* Represent the revenue from sales of decorative items and furniture through the Group's retail stores, websites and BtoB activities. They mainly exclude (i) customer contribution to delivery costs, (ii) revenue for logistics services provided to third parties, and (iii) franchise revenue. The Group uses the concept of "sales" rather than "total revenue" to calculate like-for-like growth, gross margin, EBITDA margin and EBIT margin.
· *Like-for-like sales growth:* Represents the percentage change in sales from the Group's retail stores, websites and BtoB activities, net of product returns between one financial period (n) and the comparable preceding financial period (n-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.
· *Gross margin:* Is defined as sales minus cost of sales. Gross margin is also expressed as a percentage of sales.
· *EBITDA:* Is defined as current operating profit, excluding (i) depreciation, amortization, and allowance for provisions, (ii) the change in the fair value of derivative financial instruments, and (iii) store pre-opening expenses.
· *EBIT:* Is defined as EBITDA after depreciation, amortization, and allowance for provisions.
· *Net debt:* Is defined as the Group's convertible bonds ("OCEANE"), term loan, revolving credit facilities, finance lease debt, deposits and bank borrowings, net of cash and cash equivalents.
· *Leverage ratio:* Is defined as net debt divided by EBITDA (including Modani on a pro forma basis for the period, excluding the liabilities from the earn-out and the put option).
*****
*Financial calendar*^[4]
*12 March 2019* Full-year 2018 results (press release and conference call after market close)
*****
*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 an integrated and complementary omnichannel approach, leveraging its international network of stores, websites and catalogues. The Group was founded in France in 1996 and has profitably expanded across Europe since 2003. The Group posted sales of €1,011 million and EBITDA of €139 million for the year ended 31 December 2017. In 2017, the Group operated 313 stores in seven countries including France, Italy, Spain, Belgium, Germany, Switzerland, and Luxembourg, and derived over 38% of its sales from outside France. The Group has also built a successful complementary and comprehensive online shopping website, sales from which grew 35% per year on average between 2010 and 2017. The website is available in eleven countries: the seven countries where the Group operates stores plus Austria, the Netherlands, Portugal and the United Kingdom. In 2017, online sales represented 21% of the Group's sales.
corporate.maisonsdumonde.com
*****
*Contacts*
*Investor Relations* *Press Relations*
Laurent Sfaxi - +33 2 51 71 52 07 Clémentine Prat - +33 2 51 79 54 08
lsfaxi@maisonsdumonde.com cprat@maisonsdumonde.com
^[1] Excluding Modani.
^[2] Excluding Modani.
^[3] Excluding Modani.
^[4] Indicative timetable.
*Attachment*
· PDF Version.pdf Reported by GlobeNewswire 3 hours ago.
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