MAKING THE UNPREDICTABLE PREDICTABLE P A O L O P O M P E I P R E S I D E N T & C E O C A P I T A L M A R K E T S D A Y F E B R U A R Y 1 1 , 2 0 2 6 WITH THE LONGEST EXPERIENCE FROM EXTREME CONDITIONS SAFE DRIVING IS OUR TOP PRIORITY WE MAKE THE UNPREDICTABLE PREDICTABLE IN ANY WEATHER CONDITION 2 KEY MESSAGES SUSTAINED EXPOSURE TO PREMIUM NICHES WITH PRICING POWER ROBUST PRODUCT PIPELINE SUPPORTING FUTURE GROWTH AND POSITIONING PROFITABILITY IMPROVEMENT DRIVEN BY INTERNAL OPERATIONAL ENHANCEMENTS NEW AND E ...

Switzerland's government and parliament are against the so-called “sustainability initiative” to cap the population https://t.co/hOq4R81Wdc ...

Core Viewpoint - OP Mortgage Bank has maintained a stable financial standing with a strong capital base and continues to issue covered bonds to support its cooperative banks, despite regulatory changes affecting its capital ratios [5][8][43]. Financial Standing - Bonds issued by OP Mortgage Bank totaled EUR 14,800 million at the end of December, with all funds intermediated to 54 OP cooperative banks as intermediary loans [2]. - Operating profit for the year was EUR 4.8 million, showing a slight increase from EUR 4.4 million in the previous year [5]. - The Common Equity Tier 1 (CET1) ratio decreased to 378.0% from 797.0% due to an increase in total risk exposure amount following regulatory changes [8][13]. Capital Adequacy and Risk Exposure - OP Mortgage Bank's CET1 capital stood at EUR 364,657 million, fully covering its capital requirements [11][9]. - The total risk exposure amount increased significantly to EUR 96,465 million from EUR 45,755 million, primarily due to changes in the calculation of credit and operational risks [12]. - The bank's MREL ratio was 378% of the total risk exposure amount, indicating a strong buffer above the required levels [17]. Covered Bonds and Collateralization - The EMTCB program established a total of EUR 25 billion, with EUR 7,250 million in covered bonds issued, and a cover pool of EUR 8,054 million in loans serving as collateral [6]. - OP Mortgage Bank issued a fixed-rate covered bond of EUR 1 billion in April 2025, with proceeds intermediated to 38 OP cooperative banks [4]. Sustainability and Corporate Responsibility - OP Pohjola's sustainability efforts are guided by a program updated at the end of 2025, focusing on climate, communities, and corporate governance [28]. - The bank has committed to various international initiatives, including the UN Global Compact and the Principles for Responsible Banking [29]. Personnel and Governance - At the end of the reporting period, OP Mortgage Bank had six employees, with key support services digitized and sourced from OP Cooperative [34][35]. - The governing body includes a Chair and several members from OP Cooperative and OP Corporate Bank, ensuring strong oversight [36].

Group 1 - Sanoma Corporation will redeem its outstanding EUR 150 million hybrid bond on the reset date of 16 March 2026 [1][2] - The redemption price will equal the principal amount of the note plus any accrued interest up to, but excluding, the reset date [2] - An application will be submitted to Nasdaq Helsinki Ltd to remove the Capital Securities from trading [2] Group 2 - Sanoma is a learning and media company operating across Europe, impacting millions with educational content and solutions [3][4] - The company employs close to 5,000 professionals and reported net sales of approximately EUR 1.3 billion in 2025, with an adjusted operating profit margin of 14.4% [6] - Sanoma aims for organic growth in K12 education and plans to accelerate growth through value-creating mergers and acquisitions [5]

Core Viewpoint - Sanoma Corporation's Board of Directors has proposed several key items for the Annual General Meeting (AGM) scheduled for May 7, 2026, including dividend payments, auditor appointments, and share repurchase authorizations [1][2]. Dividend Proposal - The Board proposes a dividend of EUR 0.42 per share from the distributable earnings of the Parent Company, to be paid in three equal installments of EUR 0.14 each [3][4][5][6]. - The first installment is scheduled for payment on May 19, 2026, the second on September 22, 2026, and the third on November 10, 2026, with respective record dates of May 11, September 15, and November 3, 2026 [4][5][6]. Remuneration Report - The Remuneration Report for 2025 will be available on the company's website starting March 30, 2026, and the Board recommends its adoption at the AGM [7][8]. Auditor Appointment - The Board proposes to appoint PricewaterhouseCoopers Oy as the Auditor, with Tiina Puukkoniemi as the principal responsible auditor, for a term expiring at the end of the AGM in 2027 [9][10]. - The Sustainability Auditor will also be PricewaterhouseCoopers Oy, with the same term expiration [11][12]. Share Repurchase Authorization - The Board seeks authorization to repurchase up to 16,000,000 shares (approximately 9.8% of total shares) to enhance capital structure, finance acquisitions, or for incentive programs, valid until June 30, 2027 [13][14]. Share Issuance Authorization - The Board proposes authorization to issue up to 16,000,000 new shares and convey up to 21,000,000 treasury shares, also valid until June 30, 2027, allowing for deviations from shareholders' pre-emptive rights [15]. Additional Information - The company operates across Europe, employing nearly 5,000 professionals, with net sales of approximately EUR 1.3 billion in 2025 and an adjusted operating profit margin of 14.4% [20].

Core Insights - Sanoma Corporation reported improved adjusted operating profit and free cash flow for the full year 2025, primarily driven by its Learning segment [1] Financial Performance - Q4 2025 net sales were EUR 225.8 million, a decrease of 6% from EUR 241.5 million in Q4 2024. The comparable net sales development for the Group was -7% [2] - For FY 2025, net sales totaled EUR 1,302.5 million, down 3% from EUR 1,344.8 million in FY 2024. The Group's comparable net sales development was -3% [4] - Adjusted operating profit for FY 2025 improved to EUR 188.2 million, up 5% from EUR 180.0 million in FY 2024. However, operating profit decreased to EUR 48.6 million from EUR 81.8 million in the previous year [4] - Free cash flow for FY 2025 increased to EUR 159.7 million, a 10% improvement from EUR 145.3 million in FY 2024 [4] Strategic Developments - Sanoma aims for high single-digit growth in adjusted operating profit from 2026 to 2030, with a leverage target adjusted to below 2.5 [4][5] - The company signed a EUR 220 million syndicated term loan facility in December 2025 to support its financial strategy [4] - The Learning segment's adjusted operating profit margin is expected to improve to clearly above 23% in 2026, driven by a more digital sales mix and improved cost base [7][14] Dividend Proposal - The Board proposes a dividend of EUR 0.42 per share for 2025, an increase of 8% from EUR 0.39 in 2024, reflecting 43% of the free cash flow [10][20] Outlook - For 2026, Sanoma expects net sales to be between EUR 1.29 billion and EUR 1.34 billion, with adjusted operating profit projected to be between EUR 205 million and EUR 225 million [5][14] - The demand for learning content is anticipated to increase due to curriculum renewals in various operating markets, while the advertising market in Finland is expected to remain stable [11][14] AI Integration - AI is becoming integral to Sanoma's operations, enhancing personalized learning pathways in the Learning segment and improving content delivery in Media Finland [6][15]

What if the reason we struggle to take better care of the spaces and planet entrusted to us is because we never learned how to properly and consistently take good care of ourselves. We tend to define sustainable living by what we can build and harvest. Smarter cities, stronger systems, renewable resources.But really, do we ask what sustains the people doing the building and maintaining for life and living to be sustainable. In 2020, my family and I started a garden. It was about a month into lockdown and my ...

I want to invite you to take a breath and imagine the night sky. Not the sky you might have seen last night with a handful of stars struggling through the clouds or through the glow of the city. I mean, a sky so full of celestial objects that it feels alive.A sky that our ancestors looked up to in wonder. A sky that guided their journeys, told them stories, and helped them to understand their place in the universe. Hold that image for a moment.Now I want you to imagine the same sky again, but this time imag ...

Core Insights - Naples Soap Company has reopened its Sanibel Island location at Periwinkle Place after extensive repairs following Hurricane Ian, which caused significant damage to the store in September 2022 [1][2]. Company Overview - Founded in 2009, Naples Soap Company specializes in over 400 premium skin and hair care products made without harsh chemical additives, focusing on natural ingredients [6]. - The company operates 13 retail locations in Florida and sells products online and through over 400 boutiques, spas, and retail stores across the United States [6]. Store Reopening Details - The newly renovated store features durable epoxy flooring, new fixtures, and refreshed finishes while maintaining the coastal vibe associated with Sanibel Island [2]. - The reopening is seen as a significant milestone for the company and the local community, emphasizing resilience and renewal [4]. Community Engagement - The company invites locals and visitors to celebrate the reopening and reconnect with the community [4]. - The founder and CEO expressed gratitude towards the Dahlmann family for their support in the rebuilding process [3].

Financial Data and Key Metrics Changes - For the nine months ended December 31, 2025, consolidated revenue was $2.21 billion, a decrease from $2.25 billion in the prior year period [8] - Operating income was $183.4 million compared to $190 million for the same period last year [8] - Net income was $75.9 million versus $85.7 million for the same period last year [8] - For the third quarter of fiscal year 2026, consolidated revenue was $861.3 million, down from $937.2 million in the same quarter of last year [9] - Operating income was $82 million compared to $104.1 million for the third quarter of the last fiscal year [9] - Net income was $33.2 million versus $59.6 million for the third quarter of last fiscal year [9] Business Segment Data and Key Metrics Changes - In the tobacco operations segment, revenue was $1.94 billion compared to $2 billion in the prior year period, with segment operating income at $185 million versus $194.4 million [8] - In the ingredients operations segment, revenue was $265.2 million compared to $249 million in the prior year period, but segment operating income fell to $1.4 million from $7.9 million [8] - For the third quarter, tobacco operations segment revenue was $779.9 million compared to $853.9 million in the same quarter last year, with segment operating income at $84 million versus $102.6 million [9] - Ingredients operations segment revenue was $81.3 million compared to $83.3 million in the third quarter last year, with a segment operating loss of $0.1 million compared to an operating income of $3.7 million in the same quarter last year [9] Market Data and Key Metrics Changes - The company noted that customer demand for tobacco styles remained firm, transitioning into an oversupply environment [4] - The ingredients segment faced market headwinds due to broader softness in the consumer packaged goods sector, which affected sales and margins [5][6] Company Strategy and Development Direction - The company is focused on diversifying into food and beverage ingredients, having made three acquisitions in 2020 and 2021 to build a broad product portfolio [11] - Investments have been made in commercial sales, R&D, and production capabilities to support the growth of Universal Ingredients [12] - The company aims to leverage its new resources to convert customer interest into sales and improve margins [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the transition to an oversupply environment in the tobacco market, emphasizing the company's resilience [11] - The company is committed to scaling its ingredients business despite inflationary pressures and tariff impacts [13] - Management highlighted progress in sustainability initiatives, including a significant increase in renewable electricity consumption [14] Other Important Information - The company refinanced and upsized its corporate credit facility, significantly expanding liquidity and improving financial flexibility [10] - As of December 31, 2025, net debt was $995 million compared to $945 million at the same point last year [10] Q&A Session Summary Question: Impact of tariffs and market weakness on ingredients business - Management noted that market headwinds, product mix, and higher fixed costs have impacted the ingredients segment, with inflationary pressures affecting customer demand and pricing [18][19][22] Question: Performance of the tobacco segment - Management indicated that despite a solid quarter, comparisons to last year's extraordinary results are challenging, but current year-to-date numbers remain strong [24][25] Question: Customer inventory levels and duration positions - Management stated that customer inventory levels vary, with some customers restoring durations while others maintain tighter durations [34] Question: Revenue breakdown by volume, price, and new customer wins - Management did not provide a specific breakdown but acknowledged that product mix impacts revenue [38] Question: Anticipation of pricing catching up with higher costs - Management expressed optimism that continued sales could help mitigate the impact of higher-cost inventory in the coming quarters [39] Question: Inventory write-downs in the ingredients segment - Management confirmed some write-downs occurred, primarily in the dark air-cured space [40] Question: CFO announcement clarification - Management clarified that the previous CFO offer was withdrawn, and a new CFO was appointed [42] Question: Tax rate guidance - Management indicated that the tax rate is expected to be between 28% and 32%, slightly higher due to recent changes in certain countries [49]