Company Overview - Tarkett is a global leader in innovative and sustainable flooring and sports surface solutions, with a history spanning over 140 years [2] - The company generated a turnover of €3.3 billion in 2024 and employs nearly 12,000 people [2] - Tarkett operates 24 R&D centers, 8 recycling centers, and 35 production sites, serving customers in over 100 countries [2] Voting Rights and Shares - As of November 30, 2025, Tarkett's total number of shares in the share capital is 65,550,281 [1] - The total number of voting rights is reported as 123,579,938, with 123,920,020 exercisable voting rights after deducting treasury shares without voting rights [1]

Core Insights - Carbios and Wankai have established a joint venture to develop a PET biorecycling plant in China, marking a significant step in their strategic partnership aimed at addressing plastic pollution through innovative recycling technology [4][5][10] Company Developments - The joint venture will exclusively license Carbios' PET depolymerization technology to Wankai for three years, with the potential for extension based on additional capacity agreements [1] - The initial processing capacity of the plant is set at a minimum of 50,000 metric tons of prepared PET waste per year, with ambitions to expand further [2] - Construction of the biorecycling plant is expected to begin in the first quarter of 2026, with commissioning targeted for the first quarter of 2027 [10] Financial Aspects - Wankai has agreed to participate in a capital increase of 5 million euros (approximately $5.83 million) in Carbios by June 2024, with shares priced at 8.09 euros ($9.44) each [9] - Following the announcement of the strategic partnership, shares of Carbios increased by over 25% on the Euronext Growth Paris stock market, closing at 11.50 euros ($13.37) [4] Industry Context - China is the largest producer of PET globally, accounting for 38% of the world's recycled PET consumption in 2021, with significant potential for growth in rPET production [11][12] - The region produces 67 million tons of PET annually, representing 61% of global production, highlighting the strategic importance of establishing recycling facilities in Asia [12]

Core Points - The Extraordinary General Meeting of Lassila & Tikanoja plc approved a partial demerger, leading to the establishment of a new independent company named New Lassila & Tikanoja, with the original company being renamed Luotea Oyj [1][2] - The demerger plan was signed on 7 August 2025 and includes significant changes to the Board of Directors and the Articles of Association of both the new and existing companies [2][5] Board of Directors Composition - The Board of Directors for New Lassila & Tikanoja will consist of five members, with Jukka Leinonen as Chair and Sakari Lassila as Vice Chair [3] - The term for the Board members will commence on the effective date of the demerger and will expire at the end of the first Annual General Meeting [3] Committees Established - New Lassila & Tikanoja will establish an Audit Committee and a Personnel and Sustainability Committee, with specified members for each committee [4] Articles of Association and Share Capital - The Articles of Association will be amended to reflect the new company name, Luotea Oyj, and its operational focus on property maintenance, energy efficiency, and sustainability services [5][6] - The share capital of the original company will be decreased from EUR 19,399,437 to EUR 1,000,000 as part of the demerger [7] Share Issuance and Repurchase Authorization - The Board of Directors of New Lassila & Tikanoja is authorized to issue up to 2,000,000 shares and special rights entitling to shares for various purposes, including financing acquisitions and share-based incentive plans [8][9] - The Board is also authorized to acquire its own shares, with a maximum of 2,000,000 shares to be repurchased [12][13] Remuneration of Board Members - The annual fees for the Board of Directors of New Lassila & Tikanoja will be set at EUR 70,000 for the Chair, EUR 47,000 for the Vice Chair, and EUR 35,000 for other members, with a portion payable in shares [15][16] Auditor and Sustainability Report Verifier - PricewaterhouseCoopers Oy has been elected as the auditor and verifier of the sustainability report for New Lassila & Tikanoja, with Samuli Perälä as the principal auditor [17][18] Shareholders' Nomination Board - A Shareholders' Nomination Board will be established for New Lassila & Tikanoja, consisting of four members, including the Chair of the Board of Directors [20][21] Remuneration Policy - The remuneration policy for the governing bodies of New Lassila & Tikanoja has been adopted, with the first appointment of members to the Nomination Board to occur in deviation from the adopted Charter [23][29]

Core Viewpoint - Lassila & Tikanoja Plc is undergoing a demerger, creating a new independent company focused on circular economy, named New Lassila & Tikanoja, while the existing company will be renamed Luotea Plc, focusing on facility services [1][3]. Company Overview - The demerger plan was approved on 7 August 2025, with the new company expected to be listed on Nasdaq Helsinki Ltd [1][3]. - The Capital Markets Day is scheduled for 26 November 2025, focusing on the business prospects and strategies of both New Lassila & Tikanoja and Luotea [2][4]. Business Focus and Strategy - Luotea will concentrate on facility services, providing comprehensive solutions throughout the lifecycle of buildings, emphasizing energy efficiency and smart technologies [6][7]. - The target market size for Luotea is approximately EUR 12.2 billion, with an expected annual growth rate of about 4% [8]. Financial Performance - Preliminary unaudited financial information for Luotea shows net sales of EUR 347.4 million, with an adjusted EBITDA of EUR 20.0 million and an adjusted EBITDA margin of 5.8% for the period from 1 October 2024 to 30 September 2025 [15][16]. - The company aims for an average annual organic revenue growth of 4–5% and an adjusted EBITA margin exceeding 5% in the mid-term [17]. Customer Base and Market Position - Luotea has a diverse customer base of over 6,000 clients, with a low turnover rate, and has optimized its contract portfolio to increase high-profitability contracts [10][11]. - The company is positioned to leverage cross-selling opportunities and expand into new segments, particularly in the public sector [14].

Core Insights - The fast fashion industry is a significant environmental issue, contributing to high water consumption, carbon emissions, and pollution, while also increasing microplastic and textile waste [1] - The fashion industry is responsible for 4% to 10% of global greenhouse gas emissions, yet less than 1% of clothing is recycled into new garments due to the complexity of fabric blends [2] Company Overview - Circ, founded in 2011, has developed technology to separate polycotton materials into their original components, allowing for regeneration into new, virgin quality materials [3] - Circ's hydrothermal technology can recycle polyester and cotton, which together account for approximately 77% of the global textile market [3] Business Model - Circ sources old clothing that cannot be thrifted, repaired, or resold, and after breaking down the fibers, sells them back into the clothing supply chain [4] - Notable brands such as Allbirds, Zara, and H&M utilize Circ-recycled textiles in their products [4] Market Position - Circ's approach includes a small price premium, which is considered acceptable for environmentally conscious brands like Patagonia, an investor in Circ [5] - The company has raised a total of $100 million from various investors, including Patagonia and Temasek, to support its scaling efforts [6] Expansion Plans - Circ is headquartered in Danville, Virginia, and is expanding globally with its first industrial-sized textile-to-textile recycling plant located in France [7]

Core Viewpoint - Norsk e-Fuel AS and Braskem have formed a strategic collaboration to explore the integration of e-Naphtha into the plastics value chain, aiming to enhance the development of carbon-derived plastics and promote a circular economy [1] Group 1: Companies Involved - Norsk e-Fuel AS is recognized as a pioneer in Power-to-Liquid (PtL) technology [1] - Braskem is identified as a global leader in polymers and biopolymers [1] Group 2: Objectives of the Collaboration - The partnership seeks to accelerate the development of plastics that utilize carbon emissions that would otherwise be released into the atmosphere [1] - Both companies are committed to reinforcing a circular future through this collaboration [1]

Environmental Impact of Waste - Malaysia generates approximately 39,000 tons of waste daily, with each person contributing 1 to 2 kg daily [6] - Malaysia contributes about 11 million tons of post-consumer plastics waste annually [7] - Only over 30% of waste in Malaysia is recycled [10] - The bank's carbon equivalent operations generate about 25,000 tons annually [20] Bank Initiatives for Sustainability - The bank is deploying resources to create a circular economy, moving away from a linear "take-make-use-waste" model [12][13] - The bank collected 26,000 plastic bottle caps in one month through a campaign with the Sea Monkey Project, upcycling them into name card holders for new employees [14][17] - The bank has recycled approximately 185,000 kg of waste [19] - The bank's recycling efforts have resulted in a carbon avoidance of approximately 200 tons of TCO2 equivalent [20] - The bank launched a waste circularity program at PPR flats in Tamulia, promoting source separation and community-led waste treatment, including composting [21][22][23] Call to Action for the Medical Industry - The medical industry widely uses single-use plastics, contributing to significant waste generation [26][27] - Future medical professionals are urged to think about how to heal more sustainably, advocating for a systemic shift in hospital operations [28][29] - Suggestions include reducing plastic use at the source by championing reusable equipment, improving recycling infrastructure for medical-grade plastics, and demanding manufacturers focus on design for recyclability [30][31][32] - Future medical professionals should advocate for changes from purchasing to the operating table, educating patients on the link between environmental and human health [34][35]

Core Insights - ReGen III Corp. has formed a Special Committee to explore strategic pathways for entering the multi-billion-dollar data center and AI immersion cooling market [1][5][7] - The immersion cooling market is projected to grow from USD 2.1 billion in 2024 to USD 7.2 billion by 2030, indicating a compound annual growth rate (CAGR) of over 22% [2][5] - Group III base oils are increasingly specified as dielectric fluids in immersion cooling due to their high purity and chemical stability, with hydrocarbon-based fluids expected to hold a 52.3% market share [3][5] Market Dynamics - Data centers are projected to consume up to 12% of U.S. electricity by 2028, with immersion cooling potentially reducing energy consumption for cooling by up to 90% [2][5] - The demand for advanced cooling solutions is driven by leading chip and AI innovators, positioning immersion cooling as essential for next-generation data centers and hyperscale computing [2][5] Sustainability and Competitive Advantage - ReGen III's high-quality Group III re-refined base oils achieve up to 82% lower CO₂e emissions compared to virgin crude-derived oils, aligning with sustainability goals [4][10] - The company's patented process supports longer product lifetimes and reduced environmental impact, meeting the criteria of organizations advocating for sustainable immersion fluids [4][10] Strategic Initiatives - The Special Committee will evaluate opportunities for integrating ReGen III's base oils into immersion cooling and other applications, including joint ventures and long-term supply partnerships [7][8] - The formation of the Special Committee reflects a disciplined approach to exploring new commercial applications while maintaining a focus on sustainable production [8]

Core Insights - Cisco has achieved a record quarter and is positioned for its best year ever, reflecting strong performance and customer confidence in its technology [1][2][19] Customer Engagement - The company is seeing significant spending from hyperscalers, which are advanced customers that conduct deep analyses before making technology decisions, indicating strong trust in Cisco's innovation [2][3] - New customer acquisitions include major hyperscalers in the U.S. and sovereign deals in the Middle East, with expansion into neo cloud markets in Europe and Southeast Asia [4][5] Financial Performance - Cisco reported $1.3 billion in business from top hyperscalers, with a focus on five key companies known for their strong cash flow [5] - The company has over $2 billion in its pipeline for neo cloud, sovereign cloud, and enterprise solutions, indicating a robust growth trajectory [6] Technology and Innovation - Cisco's technology evolution starts with hyperscalers, moving through telco spaces and into enterprise, showcasing a natural progression in technology adoption [7] - The company has made significant investments in software, particularly in security, and has seen growth in next-generation firewalls and Splunk products [10][12] Market Dynamics - The current market differs from 2000, as today's customers have strong financials and view technology investments as essential rather than optional [15][16] - There is a substantial opportunity for growth in AI and security, with the company open to both organic and inorganic strategies to enhance its offerings [14][18]

Core Insights - Martela Corporation reported improved revenue and operating results for January-September 2025 compared to the same period in 2024, with a profitable operating result in the third quarter [1][10][12]. Financial Performance - Revenue for July-September 2025 was EUR 20.7 million, unchanged from the same period last year, while revenue for January-September 2025 was EUR 70.9 million, reflecting a 14.5% increase from EUR 61.9 million in 2024 [5][10]. - The operating result for July-September 2025 was EUR 0.3 million, a significant improvement from a loss of EUR 0.9 million in the same period last year [5][12]. - The overall operating result for January-September 2025 was a loss of EUR 1.2 million, improved from a loss of EUR 4.8 million in 2024 [5][11]. - Earnings per share for July-September 2025 were EUR -0.09, compared to EUR -0.28 in the same period last year [5][9]. Market Outlook - Martela anticipates an increase in revenue for the full year 2025 compared to 2024, with expectations of operating profit close to zero [4]. - The company noted a slight decrease in new orders by about 1% during the review period, with revenue growth primarily in Finland, while other markets saw declines [10]. - The competitive landscape remains intense, but pressure on margins has lessened compared to the second half of 2024 [16]. Strategic Focus - The company is concentrating on improving profitability and cash flow, with measures already yielding commendable results expected to be fully realized later in the year [13]. - Martela aims to enhance customer engagement and develop service channels while maintaining a focus on sustainability and circular economy principles [14][15].