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Grupo Aeroportuario del Pacifico(PAC) - 2025 H2 - Earnings Call Transcript
2025-08-26 01:00
Financial Data and Key Metrics Changes - Pacific Current Group reported a statutory net profit of AUD 58.2 million for FY 2025, a decrease from AUD 110 million in the previous financial year [4] - Underlying net profit declined to AUD 26 million from AUD 32.2 million year-on-year, with underlying earnings per share dropping to AUD 0.056 from AUD 0.062 [4][5] - The company declared a final dividend of AUD 0.28 per share, bringing the total dividend for FY 2025 to AUD 0.43, an increase of over 13% compared to FY 2024 [3][19] Business Line Data and Key Metrics Changes - Management fee revenue decreased by 57.6% compared to the prior period due to disposals of investments [14][15] - Performance fees dropped from AUD 11.3 million in FY 2024 to AUD 8 million in FY 2025, primarily attributed to Rock Group and VPC HoldCo [15] - Cost-saving initiatives led to a nearly 60% reduction in corporate costs during the financial year [5][29] Market Data and Key Metrics Changes - The fair value estimate of net asset value increased to AUD 15.51 per share at June 30, 2025, up from AUD 13.47 per share a year earlier, representing a growth of over 15% [13][25] - The company realized significant cash from boutique realizations, contributing to higher interest income [18] Company Strategy and Development Direction - The company aims to accelerate growth by leveraging high-potential investment opportunities with existing boutique partners and exploring new investment prospects [28] - Focus on unlocking shareholder value through targeted capital structure initiatives and optimizing capital efficiency [28][29] - Continued emphasis on controlling operating costs and strengthening the balance sheet, with potential debt reduction prioritized [30][31] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong momentum built over the past two financial years and emphasized a disciplined approach to executing their strategic plan [27] - The company remains focused on enhancing organizational efficiency and embedding governance changes to improve agility and decision-making [31] Other Important Information - The company completed a share buyback of over 22 million ordinary shares at AUD 12 per share, totaling close to AUD 265 million, which represented over 42% of issued capital at that time [2][3] - The company has cash reserves of AUD 138 million, despite the reduction due to the share buyback [22] Q&A Session Summary Question: Can you discuss the additional investments in existing affiliates? - The company is considering providing working capital loans to support the growth of boutiques and potentially injecting further capital into operating businesses for new fund initiatives [34][35] Question: Will the company pay back the debt? - The Board is evaluating the possibility of paying back the debt facility, with a decision expected in September or October [37][38] Question: What are the intentions regarding the Abacus instruments? - The company plans to hold the bonds long-term due to their attractive coupon, while monitoring the stock for potential short to medium-term sales [39][41] Question: How does the investment committee approach capital allocation? - The newly formed investment advisory committee will evaluate opportunities based on their potential for accretive growth, focusing on larger investments rather than numerous smaller ones [42][44] Question: What are the plans for the external management arrangement after two years? - The Board will review the external management arrangement as the two-year period approaches, but no plans have been finalized yet [47]
SalMar - Share buyback program has been completed
Globenewswire· 2025-08-25 16:19
Group 1 - SalMar ASA has completed its share buyback program, purchasing a total of 100,000 shares, which represents 0.07% of the company's total shares, for a total amount of NOK 49,588,662 [2][3] - The average price paid per share during the buyback was NOK 495.8866, with transactions occurring between 22 August 2025 and 25 August 2025 [2][3] - Following the buyback, SalMar now holds a total of 214,554 own shares, equating to approximately 0.16% of the total shares in the company [2] Group 2 - The share buyback program was initially announced on 21 August 2025, with a total budget of up to NOK 65 million, and was set to run until no later than 30 September 2025 [1] - The transactions under the buyback program included an aggregate volume of 60,000 shares on 22 August 2025 and 40,000 shares on 25 August 2025, with respective weighted average prices of NOK 494.1687 and NOK 498.4635 [3] - An overview of all transactions made under the share buyback program is available on the company's website [3][4]
JDE Peet’s share buyback periodic update August 25, 2025
Globenewswire· 2025-08-25 12:00
Group 1 - JDE Peet's announced the repurchase of 230,025 shares from August 18 to August 22, 2025, at an average price of EUR 26.60 per share, totaling EUR 6.1 million [1] - The total number of shares repurchased under the buyback program to date is 5,477,094 ordinary shares for a total consideration of EUR 113.5 million [2] - The buyback program is part of a larger EUR 250 million initiative announced on March 3, 2025 [1][2] Group 2 - JDE Peet's is the world's leading pure-play coffee company, serving approximately 4,400 cups of coffee per second in over 100 markets [3] - In 2024, JDE Peet's generated total sales of EUR 8.8 billion and employed more than 21,000 employees globally [3]
Saturn Oil & Gas Inc. Announces TSX Approval to Renew the Normal Course Issuer Bid Following Successful Completion of Existing Program
Newsfile· 2025-08-25 11:00
Core Viewpoint - Saturn Oil & Gas Inc. has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid (NCIB) for an additional year, following the successful completion of the previous NCIB [1][6]. Group 1: NCIB Details - The renewed NCIB allows Saturn to repurchase up to 12,078,583 common shares, which is approximately 10% of the public float as defined by the TSX [4]. - As of August 21, 2025, Saturn had 192,858,149 shares issued and outstanding, with 120,785,837 shares in the public float [4]. - The NCIB will be effective from August 27, 2025, to August 26, 2026, or until it is completed or terminated by the company [4]. Group 2: Share Repurchase Performance - Under the previous NCIB, Saturn repurchased and canceled 9,732,312 shares for a total of $20.3 million, at an average price of $2.09 per share [2]. - The total shares repurchased from August 27, 2024, to July 31, 2025, amounted to 11.3 million, representing a reduction of approximately 6% in shares outstanding [2]. Group 3: Strategic Intent - The company believes there are discrepancies between the current share price and the inherent value of the business, and the NCIB is seen as a method to enhance shareholder value [3]. - Delivering returns to shareholders is a fundamental aspect of the company's strategy, with share buybacks viewed as an effective tool [3]. Group 4: Purchase Mechanism - The maximum number of shares that can be repurchased in a single trading day is 65,420, which is 25% of the average daily trading volume over the past six months [5]. - ATB Capital Markets will conduct the NCIB on behalf of the company, with purchases made on the open market in accordance with regulatory requirements [5]. Group 5: Automatic Securities Purchase Plan - The company has established an automatic securities purchase plan with ATB to facilitate purchases under the NCIB [7]. - Purchases will be made at ATB's discretion, adhering to the limitations of the plan and TSX rules [7].
Sydbank A/S share buyback programme: transactions in week 34
Globenewswire· 2025-08-25 09:01
Core Points - Sydbank A/S has initiated a share buyback programme amounting to DKK 1,350 million, which started on 3 March 2025 and is set to conclude by 31 January 2026 [1][2] - The purpose of the share buyback programme is to reduce the share capital of Sydbank A/S, adhering to the Safe Harbour rules as per EU regulations [2] - As of the most recent announcement, a total of 1,505,000 shares have been repurchased, with a gross value of DKK 660,462,110 [2] - In week 34, Sydbank A/S repurchased 50,000 shares, with a total gross value of DKK 26,717,300 [2] - Cumulatively, the total number of shares repurchased during the programme has reached 1,555,000, amounting to a gross value of DKK 687,179,410 [2] - Following these transactions, Sydbank A/S now holds a total of 1,565,409 own shares, representing 3.05% of the bank's share capital [4]
Repurchase of Truecaller B shares in week 34, 2025
Prnewswire· 2025-08-25 06:43
Core Viewpoint - Truecaller AB has been actively repurchasing its own B shares as part of a share buyback program initiated by the board of directors, with a total of 230,000 shares repurchased between August 18 and August 22, 2025, amounting to 0.07% of outstanding capital [1][2]. Group 1: Share Buyback Program - The share buyback program was announced on May 30, 2025, and is set to continue until the Annual General Meeting (AGM) in May 2026 [1]. - As of August 22, 2025, Truecaller has repurchased a total of 1,155,000 shares, which is 0.33% of the outstanding capital [1]. - The board was authorized to buy back B-shares until the AGM in 2026, with the limit set so that the company's shareholding does not exceed 10% of the total number of outstanding shares [2]. Group 2: Transaction Details - The total accumulated share buybacks for the week of August 34, 2025, amounted to 230,000 shares, with a weighted average price of SEK 46.80, resulting in a total transaction value of SEK 10,764,340 [3]. - The total accumulated buybacks during the entire program reached 1,155,000 shares at a weighted average price of SEK 52.29, with a total transaction value of SEK 60,397,509 [3]. Group 3: Current Shareholding - Following the recent acquisitions, Truecaller holds 5,100,332 B shares and 5,013,786 C shares, which corresponds to 2.86% of the outstanding capital [4]. - The total number of shares in Truecaller, including its own shares, is now 353,750,053, while the number of outstanding shares, excluding its own shares, is 343,635,935 [4].
Elis: Disclosure of trading in own shares occured from August 18 to August 22, 2025
Globenewswire· 2025-08-25 06:00
Core Viewpoint - Elis has disclosed its share buyback activities conducted from August 18 to August 22, 2025, in compliance with EU regulations, aimed at covering performance share plans and contributing to employee shareholding initiatives [2]. Summary by Relevant Sections Share Buyback Details - The total number of shares acquired during the buyback period was 108,139 shares, with an average purchase price of €25.4600 [2]. - The transactions were executed on two platforms: XPAR and DXE, with specific daily volumes and prices detailed for each day [2]. Purpose of Share Buybacks - The buyback operations are intended to cover maturing performance share plans and allocate free shares to employees as part of the "Elis for All 2025" international employee shareholding plan [2]. - Additionally, the shares purchased are planned to be cancelled in accordance with the resolutions passed at the Combined General Meeting on May 22, 2025 [2].
Progress on ABN AMRO share buyback programme 15 August – 21 August 2025
Globenewswire· 2025-08-22 06:00
Core Insights - ABN AMRO has made significant progress on its EUR 250 million share buyback programme, repurchasing a total of 2,000,000 shares and depositary receipts at an average price of €25.75, amounting to €51,506,640 during the week of 15 August 2025 to 21 August 2025 [1] - To date, the total amount spent on repurchased shares and depositary receipts is €113,224,400, which represents 45.29% of the overall share buyback programme [2] Summary by Sections - **Share Buyback Programme Details** - The share buyback programme was announced on 6 August 2025, with a total of 2,000,000 shares repurchased at an average price of €25.75 [1] - The total consideration for shares repurchased so far is €113,224,400, indicating strong execution of the buyback strategy [2] - **Investor Relations** - For detailed information on daily repurchased shares and individual transactions, investors are directed to the ABN AMRO website [2]
Aegon(AEG) - 2025 H1 - Earnings Call Transcript
2025-08-21 08:00
Financial Data and Key Metrics Changes - The operating result increased to €845 million, up 19% compared to the previous year, driven by profitable business growth and improved claims experience in the US, UK, and international segments [4][16] - Operating capital generation before holding and funding expenses decreased by 2% to €576 million [4][16] - Free cash flow increased significantly to €442 million from €373 million in the previous year [16][28] - The group solvency ratio decreased by five percentage points to 183% compared to year-end 2024 [17][26] Business Line Data and Key Metrics Changes - In the US, operating results improved to $685 million, benefiting from growth in strategic assets, particularly in the Protection Solutions business [18][19] - New life sales in the individual life business increased by 13%, driven by higher agent productivity and successful recruitment efforts [11][12] - Aegon UK experienced growth in operating results due to favorable markets and business growth [20] - The international segment saw increased operating results from higher CSM releases in TLB and Spain and Portugal, despite lower sales in Singapore [14][20] Market Data and Key Metrics Changes - The US market accounts for approximately 70% of Aegon's operations, highlighting its significance in the company's strategy [7] - The brokerage channel recorded strong growth in new life sales, attributed to the launch of a fully digital whole life final expense product [12] - Net deposits in the retirement plan business were solid, driven by mid-sized plans and onboarding of a large pool plan [12] Company Strategy and Development Direction - Aegon is focused on growing and transforming its businesses, with a strategic emphasis on the US market [3][4] - The company announced a review of relocating its head office to the US to align its corporate structure with its primary market [6][7] - The relocation aims to simplify operations and enhance cooperation between the holding and its main business unit [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving all financial targets for 2025, with a positive outlook for the second half of the year [29] - The company is monitoring the impact of new business strain and claims experience on operating capital generation [32][39] - Management reiterated that the operating profit is not particularly sensitive to equity market fluctuations [39] Other Important Information - Aegon announced a €200 million increase to its share buyback program, totaling €400 million for 2025 [5][28] - The company plans to implement US GAAP reporting, which is expected to take two to three years [9][10] Q&A Session Summary Question: What drove the decision to cover 25% of the variable annuity based fee? - Management indicated that this decision was part of ongoing risk management to stabilize capital generation and was executed recently [35][36] Question: Can you provide insights on the US GAAP implementation? - Management stated it is too early to provide guidance on the impact of US GAAP on operating profit or OCG [43] Question: What are the main challenges of potentially redomiciling? - Key challenges include building head office processes in the US and implementing US GAAP, which will take time [65][66] Question: How clean is the reported operating profit? - The operating profit of €8.45 is considered clean, with adjustments leading to an adjusted number of around €9.37 [51][52] Question: What is the size of the pool plan? - The pool plan is approximately €1.9 billion [42][94] Question: How does the US redomiciliation impact M&A opportunities? - Management indicated that being closer to the US market would position the company more favorably for potential M&A opportunities [72]
Share Buyback Transaction Details August 14 – August 20, 2025
Globenewswire· 2025-08-21 08:00
Core Insights - Wolters Kluwer has repurchased 89,500 ordinary shares for €10.1 million at an average price of €112.94 during the period from August 14 to August 20, 2025 [2][3] - The company has a share buyback program announced on February 26, 2025, with a total intended repurchase of up to €1 billion in 2025 [3] - Cumulatively, 4,558,291 shares have been repurchased in 2025, totaling €677.8 million at an average price of €148.69 [3] Share Buyback Program Details - The share buyback program allows for €175 million of buybacks to be executed by a third party from July 31, 2025, to November 3, 2025 [3] - Shares repurchased will be held as treasury shares and are intended for capital reduction through share cancellation [4] Company Overview - Wolters Kluwer reported annual revenues of €5.9 billion in 2024 and operates in over 40 countries, employing approximately 21,900 people [6] - The company is a leader in professional information solutions, software, and services across various sectors including healthcare, tax, accounting, and legal [5]