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FormPipe Software (F3J) Earnings Call Presentation
2025-08-18 06:00
Transaction Overview - Formpipe is divesting its Public Sector business area to STG for up to SEK 850 million[4] - The Board intends to distribute a substantial portion of the proceeds to shareholders and reinvest the rest in Lasernet[4] - Major shareholders representing 20% of votes have entered into voting undertaking agreements[6] Financial Details - The purchase price includes SEK 775 million in cash at closing[7] - SEK 50 million will be paid through a loan note payable in 2029 with a 4.25% compounding interest rate[7] - An additional SEK 25 million will be paid if STG achieves a certain return on its investment[7] Business Performance (2024) - Formpipe Public's ARR was SEK 239 million with a 7% growth[8] - Formpipe Public's Revenue was SEK 306 million with a -5% growth[8] - Lasernet's ARR was SEK 220 million with a 21% growth[8] - Lasernet's Revenue was SEK 223 million with a 11% growth[8] - Formpipe Public's Adjusted Cash EBITDA margin was 15%[8] - Lasernet's Adjusted Cash EBITDA margin was 10%[8] Lasernet Business - Lasernet's ARR Q1'25 was SEK 214 million[11] - Lasernet serves various industries, with 68% of ARR from SaaS Support & Maintenance and 32% from other sources[11]
Inside information: Aspo to divest its Leipurin business to Lantmännen
Globenewswire· 2025-08-15 08:30
Core Viewpoint - Aspo Plc has signed an agreement to divest its Leipurin business to Lantmännen for an enterprise value of EUR 63 million, with an estimated cash consideration of approximately EUR 60 million at closing, expected to be completed in the first quarter of 2026 [1][2]. Group 1: Transaction Details - The divestment of Leipurin is part of Aspo's strategy to maximize shareholder value and strengthen its balance sheet, enabling future growth investments for the Telko business [2][3]. - The transaction is subject to regulatory approvals and will be executed as a sale of shares covering all companies in the Leipurin segment [1][6]. - Upon completion, Aspo will record a sales gain of approximately EUR 16 million, which will impact its reported results [7]. Group 2: Financial Performance of Leipurin - In 2024, Leipurin's net sales were EUR 133.1 million, with a comparable EBITA of EUR 4.9 million and invested capital of EUR 49.7 million [5]. - Leipurin operates in the bakery, food industry, and food service markets across Finland, Sweden, and the Baltic countries, employing approximately 160 people [5]. Group 3: Strategic Implications - The acquisition of Leipurin by Lantmännen aligns with its strategy to enhance the value chain in food ingredients, providing opportunities for growth in existing and new markets [4]. - Leipurin will operate as a separate business within Lantmännen's Energy Division, which includes food ingredients operations [5].
FMC (FMC) - 2025 Q2 - Earnings Call Transcript
2025-07-31 14:00
Financial Data and Key Metrics Changes - Second quarter sales increased by 1% year-over-year, driven by a volume growth of 6% [9] - Adjusted EBITDA for the second quarter was $207 million, a 2% increase compared to the prior year [10] - Adjusted earnings per share (EPS) rose to $0.69, up $0.10 from the previous year, primarily due to EBITDA growth and lower interest expenses [11] Business Line Data and Key Metrics Changes - The growth portfolio experienced a high single-digit increase, while the core portfolio remained essentially flat [10] - The second quarter saw a 5% decline in North America sales, attributed to expected destocking in Canada, although the U.S. experienced solid volume growth [12] - EMEA showed strong growth driven by higher volumes of herbicides and branded sales [11] Market Data and Key Metrics Changes - Latin America revenues increased slightly as the region concluded the 2024-2025 growing season [11] - Asia faced declines due to lower pricing and volumes, particularly from ongoing destocking in India [12] Company Strategy and Development Direction - The company is focusing on a growth strategy with lower manufacturing costs and new formulations, particularly in Brazil [6] - A divestment of the commercial business in India is planned to regain commercial momentum through a business-to-business model [14][15] - The company aims to shift its India portfolio towards differentiated technologies with less working capital exposure [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 targets and maintaining the 2027 outlook, with expectations for strong performance driven by the growth portfolio [32] - The company anticipates challenges in India but believes the divestment will reduce risk and volatility in future periods [15] Other Important Information - The company expects full-year 2025 adjusted EBITDA to be 1% higher at the midpoint, with revenue guidance excluding India [18] - Free cash flow for 2025 is projected to be between $200 million and $400 million, a decrease from the previous year [30] Q&A Session Summary Question: What should be expected in terms of volume and pricing moving into 2026? - Management confirmed that the 2026 and 2027 targets remain unchanged, with an expected EBITDA of $1.2 billion in 2027, driven by the growth portfolio and new active ingredients [35][36] Question: Can you deconstruct the cost side for Q2 and the second half? - Cost drivers include lower raw material costs, improved fixed cost absorption, and benefits from restructuring actions, with substantial cost tailwinds expected in Q3 and Q4 [41][43] Question: Can you provide parameters on the India business for 2024? - The company forecasted $70 million in sales for H2 2025 from India, with a need for a 9% growth in the business to meet targets [50][51] Question: How is the order book shaping up in Brazil? - Actual orders for the second half in Brazil are about 35% to 40% of what is needed, indicating a positive outlook [58] Question: What is the expectation for the new direct sales program in Brazil? - The impact of the new sales organization in Brazil is expected to be visible in Q3, with growth anticipated year after year [63] Question: What is the outlook for the pheromones offering? - The first full-scale commercial pilot of pheromones is set for Q4, with results expected to inform future revenue projections [93]
The Bonduelle Group confirms the sale of its packaged salad business in France
Globenewswire· 2025-07-18 06:30
Core Viewpoint - The Bonduelle Group has confirmed the sale of its packaged salad business in France to the LSDH Group, effective July 17, 2025, as part of a strategic move to focus on fresh delicatessen markets amid declining salad consumption in France [2][3][4]. Group 1: Sale Details - The sale of the packaged salad business was initially announced on August 29, 2024, and became effective on July 17, 2025 [2][3]. - The divested business represented approximately 3.5% of Bonduelle's turnover, equating to €80 million for the 2024-2025 financial year [4]. Group 2: Strategic Focus - The Bonduelle Group aims to accelerate its activities in the fresh delicatessen market in France and Europe following the divestment [3][4]. - The LSDH Group will continue to use the Bonduelle brand for packaged salads in France through a licensing agreement [3][4]. Group 3: LSDH Group Overview - The LSDH Group is a family business with over 100 years of history, operating in six regions with ten production sites in France [8][9]. - The group employs 2,250 individuals and emphasizes social, societal, and environmental commitments in its operations [9].
INVL Technology terminated agreement with investment advisor
Globenewswire· 2025-07-18 06:29
Core Viewpoint - INVL Technology has terminated its agreement with Corum Group to enhance flexibility in exploring alternative strategic options for divesting its portfolio companies while continuing ongoing negotiations with potential buyers [3][5]. Group 1: Termination of Agreement - The company terminated the contract with the Zurich branch of Corum Group International on 17 July 2025, with certain terms remaining in force for a 12-month tail period [4]. - The decision was made to provide greater flexibility in exploring other divestment possibilities [3][5]. Group 2: Ongoing Sales Process - Despite the challenging economic conditions affecting B2B technology companies in Europe, the US, and Canada, the company continues to pursue the sale of its portfolio companies and has interested parties [5]. - Negotiations with potential buyers are ongoing, and the company is not halting the divestment process [2][5]. Group 3: Portfolio Performance - The portfolio companies are performing well, and their results will be reflected in the report for the first half of the year, which is expected to be published at the end of August [5]. Group 4: Company Overview - INVL Technology invests in IT businesses and is managed by INVL Asset Management, a leading alternative asset manager in the Baltics [5][6]. - The company owns and manages cybersecurity company NRD Cyber Security, GovTech company NRD Companies, and Baltic IT company Novian [6].
BRP to Sell its Manitou Business to the Marcott Family
Prnewswire· 2025-07-08 14:00
Core Viewpoint - BRP Inc. has entered into a definitive agreement for the Marcott family to acquire Manitou assets in Lansing, Michigan, as part of BRP's strategy to divest its Marine businesses and focus on core Powersports activities, aiming for long-term success [1][2]. Group 1: Transaction Details - The transaction is expected to close during BRP's third quarter of Fiscal 2026, with both BRP and the Marcott family collaborating to ensure a smooth transition [2]. - The Marcott family, with a strong background in the pontoon industry, is committed to maintaining the Manitou brand's reputation for performance, quality, and service [2]. Group 2: Background and Context - This announcement follows the sale of Alumacraft, which was finalized in the second quarter of BRP's Fiscal 2026, and an agreement for the sale of the Telwater business, pending customary closing conditions [3]. - BRP is a global leader in powersports products, with annual sales of CA$7.8 billion and a workforce of approximately 16,500 as of January 31, 2025 [5].
FLSmidth sells its Air Pollution Control business to Rubicon Partners
Globenewswire· 2025-06-30 09:30
Core Viewpoint - FLSmidth has agreed to divest its Air Pollution Control (APC) business to Rubicon Partners, concluding a series of divestments that began in 2020 [1][2]. Group 1: Transaction Details - The divestment includes all related assets such as intellectual property, technology, employees, and order backlog [1]. - The transaction is expected to close in the second half of 2025 [1]. - FLSmidth anticipates a small net gain from the divestment, which will be recognized under discontinued operations [2]. Group 2: Financial Guidance - The transaction does not alter FLSmidth's previously communicated financial guidance for the full year 2025 [2]. Group 3: Company Background - FLSmidth is a technology and service supplier to the global mining industry, focusing on improving performance, lowering operating costs, and reducing environmental impact [3]. - The company aims for zero emissions in mining by 2030 as part of its sustainability ambition, MissionZero [3]. Group 4: Rubicon Partners Overview - Rubicon Partners is a UK-based investment partnership that specializes in acquiring complex industrial businesses [4]. - Over 32 years, Rubicon has invested in 83 businesses, with values ranging from £15 million to £250 million [4]. - The firm focuses on long-term value creation by collaborating closely with company management [4].
ArcelorMittal announces sale of Bosnian operations
Globenewswire· 2025-06-20 13:30
Core Viewpoint - ArcelorMittal has signed a sale and purchase agreement to divest its operations in Bosnia and Herzegovina, specifically the ArcelorMittal Zenica steel plant and the ArcelorMittal Prijedor iron ore mining business, to Pavgord Group, following a strategic review that deemed the sale as the best solution for business development [1][2]. Transaction Details - The transaction involves the sale of ArcelorMittal's shares in both ArcelorMittal Zenica and ArcelorMittal Prijedor, with all employees' jobs being transferred to the new owner. The company anticipates a non-cash loss on disposal of approximately $0.2 billion, which includes foreign exchange losses recorded in equity since acquisition [3]. - The deal is expected to close in the third quarter of 2025, pending merger control clearance and fulfillment of all conditions precedent. Until the closure, all operations will continue as usual with support from local management and company leadership [4]. Company Acknowledgment - ArcelorMittal expressed gratitude towards the government of Bosnia and Herzegovina and acknowledged the contributions of its employees at ArcelorMittal Zenica and ArcelorMittal Prijedor over the past 21 years, wishing them and Pavgord Group success in the future [5]. Company Overview - ArcelorMittal is a leading integrated steel and mining company with operations in 60 countries and primary steelmaking in 15 countries. In 2024, the company generated revenues of $62.4 billion, producing 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore. The company focuses on producing innovative steels that are energy-efficient, low in carbon emissions, and reusable, supporting the transition to renewable energy infrastructure [6].
Westport Announces Lock-Up Agreements in Support of the Light-Duty Divestment Transaction
Globenewswire· 2025-04-30 22:15
Core Viewpoint - Westport Fuel Systems Inc. has entered into lock-up agreements with shareholders representing approximately 2.0 million shares, or 11.4% of the outstanding shares, to support the sale of Westport Fuel Systems Italia S.r.l. [1][2] Transaction Overview - On March 31, 2025, Westport announced a binding agreement to sell its interest in Westport Fuel Systems Italia S.r.l., which includes the Light-Duty segment, to Heliaca Investments Coöperatief U.A. [3] - The base purchase price for the transaction is $73.1 million (€67.7 million), with potential earnouts of up to $6.5 million (€6.0 million) based on certain conditions [4] - The transaction is subject to shareholder approval and customary closing conditions, expected to close in late Q2 of 2025 [5] Financial Implications - Proceeds from the transaction are anticipated to enhance Westport's financial stability and support growth initiatives focused on decarbonizing mobility and industrial applications [6] - Post-closing, Westport plans to align its cost structure to reflect a smaller, more efficient organization while seeking further efficiency gains [6] Company Background - Westport Fuel Systems is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels, serving approximately 70 countries [7]