香港交易及結算所有限公司及香港聯合交易所有限公司對本公 佈 之內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 本 公 佈 全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 ENM HOLDINGS LIMITED 安寧控股有限公司 （於香港成立之有限公司） （股份代號： 00128） 內幕消息 (1) 盈利預告 (2) 終 止 時裝零售業務 本公 佈 乃根 據 香港 聯合 交 易所 有 限公 司證 券 上市 規 則（「 上市規則 」）第13.09(2)(a) 條以及香港法例第 571章證券及期貨條例（「證券及期貨條例 」）第 XIVA部項下 之內幕消息條文（定義見上市規則）而刊發。 安寧 控 股有 限 公司（「本公司 」，連 同 其附 屬 公司 統 稱「 本集團 」）董事 會（「董 事 會 」）謹此通知本公司股東（「股 東 」）及潛 在 投資者以下盈利預告及 有關 終 止時裝零售業務之 業務最新情況。 根 據 董事會 對 本 集 團 截至二零二五年 九 月三十日止 九 個 月 之 未經審 核 綜合管理 賬目（「二零二五 ...

Core Insights - Barclays PLC reported earnings per share of $0.55, surpassing the estimated $0.54, with revenue of approximately $9.59 billion, exceeding the forecasted $9.38 billion, indicating strong financial performance [2][6] - The bank announced a £500 million share buyback as part of its strategy to enhance shareholder value, reflecting a shift towards quarterly distributions [3][6] - Barclays' tangible net asset value per share increased to 392p, and its common equity tier 1 capital ratio stands at 14.1%, showcasing a solid financial foundation [4][6] Financial Performance - Barclays achieved a pre-tax profit of £2.1 billion for the third quarter, slightly below analysts' expectations, with a return on tangible equity of 10.6% for the quarter [5] - The return on tangible equity for the year-to-date reached 12.3%, prompting an increase in the full-year RoTE guidance to more than 11%, up from the previous target of around 11% [4][5] Strategic Initiatives - The decision to advance a portion of the full-year distribution plans is supported by the bank's robust capital generation over the past nine quarters, indicating a proactive approach to shareholder returns [3] - Barclays plans to share updated targets through 2028 alongside the full-year 2025 results, reflecting a forward-looking approach to growth and profitability [5]

Core Viewpoint - ICON Public Limited Company (NASDAQ: ICLR) is experiencing a significant decline in consensus price targets, reflecting a more cautious outlook on its future performance [1][6]. Financial Performance - ICON's recent earnings report showed quarterly earnings of $3.26 per share, surpassing the Zacks Consensus Estimate of $3.18 per share, but down from $3.75 per share in the same quarter last year [3]. - The company's revenues have grown significantly, increasing by 219.04% and 145.30% from 2018 to 2024 [4]. Price Target Changes - The consensus price target for ICLR has decreased from $252 to $190 over the past year, indicating a shift towards a more cautious outlook [6]. - Despite the predicted decline in earnings, Wells Fargo maintains a positive price target of $250 for ICLR, suggesting some analysts still hold a favorable view [2][6]. Strategic Initiatives - ICON plans to repurchase $750 million of its outstanding common shares this year, which could positively impact its stock price [4]. Market Considerations - Investors should consider changes in consensus price targets alongside other financial metrics and market conditions, including the impact of recent legislation and debt reduction efforts [5].

Core Viewpoint - An investor group, including activist investor Jana Partners and NFL player Travis Kelce, has acquired approximately 9% of Six Flags Entertainment and aims to engage with the company's leadership to enhance business performance and shareholder value [1][2]. Group 1: Ownership and Engagement - The investor group now holds an economic interest of about 9% in Six Flags [2]. - The group plans to engage with Six Flags' management and board to discuss strategies for improving shareholder value and visitor experience [2]. Group 2: Market Reaction - Following the announcement, Six Flags' shares increased by 17.7%, with an additional 5.1% gain in after-hours trading [2]. - Despite the recent rally, the company's shares have declined approximately 47% year-to-date [2]. Group 3: Financial Performance - Six Flags reported a loss of $319.4 million for the first half of the year [3]. - Attendance at Six Flags fell by 9% in the three months ending June 29, attributed to adverse weather conditions and a challenging consumer environment [3]. Group 4: Investor Background - The investor group includes notable figures such as consumer executive Glenn Murphy and technology executive Dave Habiger [3]. - Travis Kelce expressed a personal connection to Six Flags, stating his desire to help improve the parks for future generations [4].

Group 1 - Jana plans to engage with Six Flags' board and management to discuss opportunities for enhancing shareholder value [1] - The focus will also include improving the guest experience at Six Flags [1]

Transaction Overview - Monroe Capital Corporation (MRCC) and Horizon Technology Finance Corporation (HRZN) have announced a proposed merger[7] - MRCC will sell substantially all of its assets to Monroe Capital Income Plus Corporation (MCIP) at fair value[7] - The merger is structured as a tax-free exchange, offering long-term upside for MRCC shareholders[7, 14] - The merger is expected to close in December 2025, pending shareholder approvals and customary conditions[7, 13] Financial Benefits and Synergies - The merger will provide HRZN with approximately $165 million in equity capital[7] - MRCC shareholders realize an immediate 33% NAV premium to the current trading price[14] - The combined company's investment adviser, HTFM, will waive $4 million in management and incentive fees[13, 19] - Estimated annualized G&A expense savings of $2.5 million are expected in the first year, a 30% expense reduction[28] Post-Merger Structure and Governance - HRZN will be the surviving public entity, managed by Horizon Technology Finance Management LLC (HTFM)[12] - MRCC shareholders are expected to own approximately 37% of the combined company immediately following closing[29] - HRZN's existing stock purchase program will be available for open market repurchases of up to 2% of outstanding shares when trading below 90% of NAV[13]

Summary of Dana (DAN) 2025 Conference Call Company Overview - Dana is a leading supplier of drivetrain and e-propulsion systems, focusing on commercial and light vehicle markets [1][16]. Key Developments - **Off Highway Divestiture**: Dana announced the sale of its off-highway business to Allison for an enterprise value of approximately $2.7 billion, expecting to net around $2.4 billion after taxes and fees [2][7]. This divestiture is seen as a strategic move to enhance shareholder value and improve the company's balance sheet [3][4]. Financial Implications - **Debt Repayment**: Dana plans to use about $2 billion from the sale proceeds to reduce its debt, targeting a net leverage of 1x over the business cycle [9][37]. - **Capital Returns**: The company announced a plan to return up to $1 billion to shareholders through 2027, with $550 million expected to be returned around the closing of the deal [10][11]. Strategic Focus - **New Dana**: Post-divestiture, Dana aims to focus on its remaining businesses, enhancing profitability and efficiency while delivering best-in-class technologies [16][17]. The company is undergoing a cost reduction program targeting $300 million in savings, with $225 million expected to be realized this year [18][19]. Market Dynamics - **Production Stability**: Dana has observed stability in production schedules for light vehicle programs, which is beneficial for converting sales into profit [30][31]. However, there is ongoing weakness in the commercial vehicle sector due to macroeconomic factors [30]. Competitive Positioning - **Hybrid and EV Opportunities**: Dana sees significant growth potential in hybrid and electric vehicle markets, emphasizing its energy source agnostic approach [50][52]. The company is well-positioned to leverage its technologies in both traditional and emerging powertrains [51][56]. Operational Efficiency - **Cost Structure Review**: Dana is actively reviewing its cost structure, particularly in SG&A, to enhance operational efficiency [20][21]. The management is focused on maintaining profitability without pursuing growth for its own sake [40][41]. Customer Relationships - **Positive Customer Response**: Customers have responded positively to the divestiture, appreciating Dana's strong balance sheet and commitment to investing in their programs [28][49]. Industry Outlook - **M&A Considerations**: While there is ongoing discussion about consolidation in the industry, Dana is currently prioritizing the optimization of its existing portfolio over new acquisitions [45][46]. Conclusion - Dana is strategically positioning itself for future growth by focusing on its core businesses, enhancing operational efficiency, and capitalizing on opportunities in the hybrid and electric vehicle markets. The divestiture of the off-highway business is a pivotal move aimed at strengthening the company's financial health and shareholder returns.

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $286.9 million, a decrease of $10.5 million or 3.5% compared to the first quarter of 2024, primarily due to decreases in admissions per capita and attendance [18][21] - Attendance decreased by approximately 59,000 guests or 1.7% year-over-year, with the Easter shift impacting attendance by approximately 140,000 guests [19][21] - Adjusted EBITDA was $67.4 million, a decrease of $11.7 million compared to the first quarter of 2024, influenced by revenue declines and timing-related expenses [21][22] Business Line Data and Key Metrics Changes - In-park per capita spending increased by 1.1%, marking growth for 19 of the last 20 quarters [6][21] - Admission per capita decreased by 4.2%, primarily due to a shift in peak visitation days and a change in the admissions product mix [19][21] - Operating expenses decreased by $3.6 million or 2.2%, attributed to a reduction in non-cash adjustments [20][21] Market Data and Key Metrics Changes - April 2025 attendance was up 8.1% compared to April 2024, indicating a positive trend despite the first quarter's challenges [7][18] - Year-to-date attendance through April showed approximately 1.3% growth on a fiscal basis [19] - International ticket sales were up low single digits year-over-year, with group bookings running ahead of the previous year [50][52] Company Strategy and Development Direction - The company is focused on significant investments in new rides, attractions, and events to enhance guest experiences and drive revenue [7][11] - Discussions are ongoing regarding the integration of branded hotels and unlocking the value of owned real estate [12][72] - The company is pursuing sponsorship opportunities, expecting to generate over $20 million in high-margin revenue over time [14][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving new records in revenue and adjusted EBITDA for 2025, with 75% of historical attendance and revenue opportunities still ahead [8][17] - The company is optimistic about the impact of new attractions and events, as well as the potential increase in visitation due to competitive market dynamics [34][65] - Management acknowledged economic uncertainties but emphasized the resilience of their business model [16][61] Other Important Information - The company repurchased 100,000 shares for approximately $4.6 million during the first quarter, indicating confidence in the stock's valuation [16][22] - The net total leverage ratio as of March 31, 2025, was 3.1 times, with total available liquidity of approximately $764 million [15][22] Q&A Session Summary Question: How does the company plan to bridge the first quarter loss to achieve record EBITDA? - Management highlighted strong April performance with attendance up over 8% and emphasized upcoming new rides and attractions as key drivers for growth [30][34] Question: What was the impact of Easter on April's performance? - Management noted that April's attendance benefited from the Easter shift and additional attendance beyond that, indicating a positive trend [41] Question: How is the company addressing international sales and group bookings? - Management reported low single-digit growth in international ticket sales and positive trends in group bookings, indicating a strong outlook [52][54] Question: What are the expectations regarding weather impacts for the year? - Management anticipates more normalized weather patterns compared to the previous year, which experienced significant hurricane impacts [61][62] Question: How is the company managing labor and marketing costs in light of competition? - Management indicated effective management of labor costs despite market pressures and strategic redeployment of marketing expenses to maximize impact [81][84]

Financial Data and Key Metrics Changes - Total revenues increased by 4% to $219.6 million compared to $211.2 million in Q1 2024 [6][14] - Income from operations was $16.8 million, including $2.5 million of nonrecurring severance expense, compared to $17 million in Q1 2024 [6][14] - Adjusted EBITDA rose by 5% to $26.6 million, which included $1.1 million of nonrecurring cash severance expense, compared to $25.3 million in Q1 2024 [7][16] - Net income was $15.3 million or $0.15 per diluted share, down from $21.2 million or $0.21 per diluted share in Q1 2024 [15][16] - Adjusted net income was $22.6 million or $0.22 per diluted share, compared to $19.3 million or $0.19 per diluted share in Q1 2024 [16] Business Line Data and Key Metrics Changes - Health and wellness centers operated on 199 ships, with an average ship count of 193 for the quarter, compared to 188 ships in Q1 2024 [7][10] - Sales productivity increased due to the introduction of higher value services such as MediSpa, IV therapy, and acupuncture [9][10] - Revenue per passenger per day, weekly revenue, and revenue per staff per day showed growth driven by staff retention and enhanced sales training [10] Market Data and Key Metrics Changes - Cruise line partners experienced strong bookings and onboard spending, with consumers prioritizing cruising as a value alternative [6][8] - Prebooking revenue as a percentage of total revenues remained strong at 23% [10][11] Company Strategy and Development Direction - The company aims to invest in cruise line and destination resort partnerships, innovate guest experiences, and enhance productivity [5][6] - New health and wellness centers were introduced on Norwegian Cruise Line's first PRIMA plus class ship, with plans for additional centers on eight new ships [8][10] - A new $75 million share repurchase program was approved, extending a previous $50 million program, reflecting the company's commitment to enhancing shareholder value [11][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the dynamic economic environment and reaffirmed annual guidance [6][19] - The company expects high single-digit revenue and adjusted EBITDA growth rates for fiscal 2025 compared to fiscal 2024 [19][20] - Positive trends were noted at the start of Q2, with expectations for continued strong performance [12][20] Other Important Information - The company maintained a strong balance sheet with total cash of $23.8 million after share repurchases and dividend payments [17] - Total debt net of deferred financing costs was $97.4 million, down from $98.6 million at the end of 2024 [17] Q&A Session Summary Question: Understanding spend patterns on board - Management noted that there has not been a significant increase in discounting, and spending continues to increase, with high demand for high-end services [24][25] Question: Full year guidance sensitivity - The low end of the guidance range assumes a moderation in spending on board, but no significant deterioration is currently anticipated [27][29] Question: Pre-booking trends - Pre-booking remains stable at 23%, with no significant pullback from cruise lines in investing to reduce friction in pre-booking engines [33][35] Question: MediSpa performance and potential slowdown - Demand for MediSpa services remains strong, with no early signs of deterioration observed [44][45] Question: Impact of tariffs on spending - No changes in spending activity were noted immediately following tariff announcements, as consumers continued to spend while on board [56][60]