PRESS RELEASE Availability of the 2024 Universal Registration Document Paris, March 28, 2025 - Valeo announces that its 2024 Universal Registration Document was filed with the French financial markets authority (Autorité des marchés financiers – AMF) on March 27, 2025 under number D.25-0180. The 2024 Universal Registration Document includes the Integrated Report, the Annual Financial Report, the Board of Directors’ Corporate Governance Report, the Sustainability Report, as well as a description of the Comp ...

CHICAGO, March 28, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2025 results conference call on Thursday, April 17, 2025 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First I ...

PRESS RELEASE Valeo Shareholders' Meeting 2025 Paris, March 26, 2025 - Valeo hereby informs its shareholders that its Combined (ordinary and extraordinary) Shareholders' Meeting will be held at 2:30 pm on May 22, 2025 at 3 Mazarium, 3 Rue Mazarine, 75006 Paris. During this Shareholders' Meeting, shareholders will be asked, in particular, to approve Valeo's financial statements as well as the Group's consolidated financial statements for the financial year ended December 31, 2024, to allocate the earnings fo ...

Core Viewpoint - First Industrial Realty Trust, Inc. has successfully closed an $850 million senior unsecured revolving credit facility, enhancing its financial capacity and extending maturity dates to support long-term growth [1][2][7] Financing Details - The new revolving credit facility matures on March 16, 2029, with options for two six-month extensions, and includes an additional $100 million in capacity [1][2] - Initial interest payments are set at SOFR plus 77.5 basis points, with a facility fee of 15 basis points, and an accordion feature allowing for an increase in borrowing capacity to $1 billion [2] - The company has also refinanced a $200 million unsecured term loan, maturing on March 17, 2028, with similar interest terms [4][5] Credit Metrics - The pricing for both the revolving credit facility and the term loan is based on a favorable credit rating of BBB+/Baa1/BBB+, despite the current ratings being BBB/Baa2/BBB [6] - This pricing is contingent on maintaining a consolidated leverage ratio below 35.0% [6] Company Overview - First Industrial Realty Trust, Inc. is a leading owner, operator, developer, and acquirer of logistics properties in the U.S., focusing on high-quality facilities essential for supply chains [7] - The company owns and has under development approximately 69.5 million square feet of industrial space as of December 31, 2024, concentrated in 15 target metropolitan statistical areas [7]

PRESS RELEASEParis, March 6, 2025 Information on the total number of voting rightsand shares forming the share capital(Article L.233-8 II of the French Commercial Code andArticle 223-16 of the General Regulation of the French Financial Markets Authority) DateIssued capitalPar valueTotal number of sharesTotal number of voting rightsTheoretical*Exercisable**February 28, 2025€ 244,633,504<td style="width:69.8p ...

CHICAGO, Feb. 28, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that it will present at Citi's 2025 Global Property CEO Conference. The presentation is scheduled for Tuesday, March 4, 2025 at 11:40 a.m. EST (10:40 a.m. CST).A live webcast of the presentation will be available at www.firstindustrial.com under the Investors tab. A replay of the webcast will also be available through May 31 ...

Core Insights - Valeo achieved its profitability and cash generation objectives in 2024, with a focus on improving financial performance in 2025 through attractive offerings and cost management [1][2][5] - The company aims for structurally higher profitability and cash generation in 2025, targeting sales between €21.5 billion and €22.5 billion, an EBITDA margin of 13.5% to 14.5%, and free cash flow of €700 million to €800 million before one-off restructuring costs [4][60] Financial Performance - In 2024, Valeo reported sales of €21,492 million, a decrease of 0.5% on a like-for-like basis compared to 2023 [4][11] - EBITDA increased by 8% to €2,863 million, representing 13.3% of sales, which is an improvement of 1.3 percentage points year-on-year [4][40] - Operating margin rose by 9.7% to €919 million, accounting for 4.3% of sales, up 0.5 percentage points from the previous year [4][40] - Free cash flow before one-off restructuring costs was €551 million, exceeding guidance, while after one-off costs, it stood at €481 million [4][49] Debt and Dividend - Net debt decreased by €215 million to €3,813 million, with a leverage ratio of 1.3x EBITDA [4][50] - A dividend of €0.42 per share is proposed, reflecting a 5% increase compared to 2023 [4][54] Market Dynamics - Original equipment sales fell by 2% on a like-for-like basis in 2024, significantly impacted by lower production levels in certain European electric vehicle platforms [19][26] - Aftermarket sales increased by 4% on a like-for-like basis, driven by an aging vehicle fleet and enhanced product offerings [15][19] - New orders for 2024 totaled €17.8 billion, down from previous years due to postponements and cancellations by automaker customers [55][59] Strategic Initiatives - Valeo's Move Up strategic plan is set to conclude in 2025, with a focus on cost reduction and improved profitability [6] - The company is pursuing a divestment strategy for non-strategic assets, aiming to dispose of assets worth €500 million [51][52] - Valeo's commitment to sustainability is reflected in its first sustainability report, integrating sustainability into its strategy and operations [3]

Core Viewpoint - First Industrial Realty Trust, Inc. (FR) is showing potential for a bullish breakout due to a recent "golden cross" formation in its moving averages [1][2]. Technical Indicators - FR's 50-day simple moving average has crossed above its 200-day simple moving average, indicating a bullish signal known as a "golden cross" [1][2]. - A golden cross typically signifies a bullish breakout and is characterized by a stock's short-term moving average surpassing a longer-term moving average [2]. Market Performance - Over the last four weeks, FR's stock price has increased by 7.6%, suggesting positive momentum [4]. - The company currently holds a 3 (Hold) rating on the Zacks Rank, indicating a neutral outlook [4]. Earnings Expectations - There have been three upward revisions in earnings expectations for the current quarter, with no downward changes in the past 60 days, which supports the bullish sentiment [4]. - The Zacks Consensus Estimate for FR has also increased, further reinforcing the positive outlook for the company [4]. Investment Consideration - Given the technical indicators and positive earnings revisions, investors are encouraged to consider adding FR to their watchlist [5].

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Property Portfolio and Operations - As of December 31, 2024, the company owned 412 industrial properties across 19 states, totaling approximately 66.7 million square feet of gross leasable area (GLA) [32]. - The company focuses on external growth by developing and acquiring industrial properties in 15 key logistics markets, particularly coastal markets, to enhance its portfolio [35]. - Approximately 25.6% of the company's consolidated net operating income for the year ended December 31, 2024, came from properties located in California, while 11.4% came from Pennsylvania [53]. - The company had 151 employees as of December 31, 2024, with an average tenure of approximately 12 years [44]. - As of December 31, 2024, the company owned 416 industrial properties, with 412 classified as in-service, totaling approximately 66.7 million square feet of GLA and a weighted average occupancy of 96.2% [128][130]. - Approximately 96.2% of the GLA of in-service properties was leased as of December 31, 2024, with no single tenant accounting for more than 6.5% of rent revenues [136]. - The company has eight development projects under construction totaling approximately 2.0 million square feet, with an estimated total investment of $280.4 million [133]. - The company executed 13 leases at development properties, totaling 3,853,268 square feet of GLA [159]. Financial Performance - Net income for the year ended December 31, 2024, was $296.0 million, compared to $285.8 million for 2023 [161]. - For the year ended December 31, 2024, total revenues increased by $55.6 million, or 9.1%, to $669.6 million compared to $614.0 million in 2023 [165]. - Revenue from same store properties rose by $30.6 million, primarily due to increases in rental rates and tenant recoveries, despite a slight decrease in occupancy [165]. - Same store revenues for 2024 were $594,527,000, representing a 5.4% increase from $563,949,000 in 2023 [206]. - Same store net operating income (NOI) for 2024 was $443,031,000, a 8.4% increase compared to $408,667,000 in 2023 [206]. - Net income available to common stockholders for 2024 was $287,554,000, an increase of 4.4% from $274,816,000 in 2023 [202]. - Funds from operations (FFO) available to common stockholders for 2024 reached $350,485,000, up 8.6% from $322,667,000 in 2023 [202]. Capital Structure and Liquidity - The company has approximately $480.5 million available for additional borrowings under its $750 million unsecured revolving credit agreement as of February 13, 2025 [36]. - The company anticipates cash flows from operating activities and asset dispositions will meet short-term liquidity needs, including $177.5 million for ongoing development projects [187]. - The total debt as of December 31, 2024, was $2,215.2 million, with 87.3% being fixed rate debt and 12.7% variable rate debt [194]. - The company has a $300.0 million unsecured term loan maturing on August 12, 2025, and is considering refinancing options [182]. - The company must distribute at least 90% of its taxable income annually as a REIT, which may limit its ability to retain capital for ongoing business needs [85]. Risks and Challenges - The company faces competition from other REITs and real estate investors, which may increase acquisition prices and impact leasing strategies [37]. - The company's operating performance may be adversely affected by deteriorating market conditions, including oversupply of logistics space or reduced demand [55]. - International trade disputes, including tariffs, could increase costs for tenants and impact the company's business operations [56]. - The company faces risks in renewing leases or finding new tenants on favorable terms, which could adversely impact financial condition and cash flow [58]. - Adverse market conditions could lead to impairment charges, negatively impacting the company's financial condition [71]. - The company is exposed to risks associated with joint venture arrangements, which may affect its ability to manage properties effectively [72]. - Climate change impacts could disrupt tenant operations and impair their ability to pay rent, affecting the company's financial performance [75]. - The evolving nature of cyber threats makes it impossible to entirely eliminate cybersecurity risks, which could materially affect the company's business and financial performance [113]. Cybersecurity - Cybersecurity risks are a significant focus, with the company implementing controls to protect its systems and data from unauthorized access and breaches [120]. - The company continuously assesses external threats to identify material cyber risks and has established processes to mitigate these risks [121]. - The cybersecurity program is overseen by a team with decades of expertise, including a Chief Information Officer and an Information Technology Security Manager with a master's degree in Network Security [125]. - The company engaged in monthly mock phishing exercises and maintained written playbooks for various cyberattack scenarios to enhance cybersecurity measures [127]. Environmental and Regulatory Compliance - The company emphasizes environmental sustainability in its operations, with many recent development projects achieving LEED certification [40]. - The company may incur significant costs complying with various laws and regulations, which could adversely affect financial condition and results of operations [70]. - Environmental expenditures for 2025 are estimated at approximately $1.9 million, with total future expenditures not exceeding $4.6 million [189]. Market Conditions and Interest Rates - Rising interest rates could reduce cash flow by increasing interest payments on both floating and fixed-rate debt [81]. - The company's credit ratings influence the availability and terms of indebtedness, and any downgrade could lead to higher borrowing costs [84]. - Disruptions in financial markets could limit the company's access to refinancing options, potentially increasing borrowing costs and impacting liquidity [78].