Core Insights - Quarterhill Inc. reported Q2 2025 revenue of $43.1 million, a 4% increase year-over-year, primarily driven by strong performance in the safety and enforcement unit [3][6] - The company is implementing a four-point plan aimed at strengthening its business, which includes restructuring for $12 million in annualized savings, renegotiating tolling contracts, pursuing higher-margin business, and investing in next-generation technology [4][10] - Despite revenue growth, the company experienced a net loss of $6.8 million in Q2 2025, compared to a net loss of $3.0 million in Q2 2024 [10][13] Financial Performance - Q2 2025 revenues were $43.1 million, up from $41.5 million in Q2 2024, while year-to-date revenues reached $77.0 million compared to $76.4 million in the same period last year [6][13] - Gross profit for Q2 2025 was $6.3 million (15% margin), down from $8.5 million (21% margin) in Q2 2024, attributed to cost overruns on tolling projects [7][30] - Adjusted EBITDA for Q2 2025 was ($2.7) million, a decrease from $1.7 million in Q2 2024, largely due to impacts from renegotiated tolling contracts [9][30] Operational Highlights - Total operating expenses for Q2 2025 were $12.9 million, up from $10.8 million in Q2 2024, driven by recruitment and technical consulting costs [8][30] - Cash used in operations for Q2 2025 was ($4.6) million, compared to cash generated from operations of $0.8 million in Q2 2024 [11][30] - The company’s cash and cash equivalents decreased to $22.7 million as of June 30, 2025, down from $31.9 million at the end of 2024 [11][30] Strategic Initiatives - The company has appointed new leadership, including David Charron as Chief Financial Officer and Darren Learmonth as Chief Technology Officer, to drive its strategic initiatives [13] - A restructuring plan announced on July 24, 2025, is expected to yield annualized savings of approximately $12 million starting in Q3 2025 [4][13] - The company reported a revenue backlog of $463 million as of June 30, 2025, indicating a strong pipeline for future revenue [13]

Core Insights - CAE Inc. reported solid first-quarter results for fiscal 2026, with double-digit income growth and margin expansion in both Defense and Civil sectors, driven by strong demand in civil aviation and increased defense spending across NATO [2][4][6] Financial Performance - First quarter fiscal 2026 revenue was $1,098.6 million, a 2% increase from $1,072.5 million in the same quarter last year [4][6] - Operating income rose to $133.8 million (12.2% of revenue), up 23% from $108.6 million (10.1% of revenue) in the previous year [5][6] - Net income attributable to equity holders was $57.2 million, an 18% increase from $48.3 million in the prior year [6] - Earnings per share (EPS) from continuing operations increased to $0.18, a 20% rise from $0.15 last year [6] Civil Aviation Segment - Civil revenue reached $607.7 million, a 3% increase from $587.6 million in the previous year [7][10] - Operating income for the Civil segment was $99.4 million (16.4% of revenue), compared to $89.8 million (15.3% of revenue) last year [10] - Civil signed training solutions contracts valued at $511.4 million during the quarter, with an adjusted backlog of $8.4 billion [8][10] Defense and Security Segment - Defense revenue was $490.9 million, a slight increase from $484.9 million in the previous year [11][13] - Operating income in the Defense segment improved significantly to $34.4 million (7.0% of revenue), compared to $18.8 million (3.9% of revenue) last year [11][13] - The adjusted backlog for Defense was $11.1 billion, reflecting strong demand driven by rising defense budgets across NATO [12][13] Management Changes - Matthew Bromberg was appointed as the new President and CEO, succeeding Marc Parent, effective after the AGM on August 13, 2025 [2][3] Sustainability Initiatives - CAE maintained stable carbon emissions despite a 10% increase in business activity, demonstrating the effectiveness of its decarbonization strategy [20][21] - The company received recognition for its sustainability efforts, including being named one of the World's Most Sustainable Companies of 2025 by TIME magazine [22] Outlook - The Civil business is expected to benefit from strong fundamentals and regulatory requirements for pilot training, with anticipated mid-single-digit percentage growth in adjusted segment operating income for fiscal 2026 [24][25] - The Defense segment is positioned for long-term growth, with expectations of low-double-digit percentage annual growth in adjusted segment operating income [26][27]

Financial Performance - Underlying net income reached $1,015 million, a 2% increase compared to Q2 2024[11] - Reported net income increased by 11% to $716 million[11] - Underlying EPS grew by 4% to $1.79, while reported EPS increased by 14% to $1.26[11] - New business CSM remained flat at $435 million[11] - Total CSM increased by 9% to $137 billion[11] Growth & Sales - Asset management net flows & net wealth sales increased by $47 billion to $(149) billion[23] - Group - Health & Protection sales increased by 8% to $535 million[11] - Individual - Protection sales increased by 15% to $863 million[11] - Total AUM increased by 5% to $1541 billion[23] Financial Strength - SLF Inc's LICAT ratio increased by 2 percentage points to 151%[25] - The financial leverage ratio increased by 03 percentage points to 204%[23] Business Segment Performance - SLC Management's fee-related earnings increased by 37% to $89 million[33] - Asia's underlying net income increased by 13% to $206 million[43]

Core Insights - Sun Life Financial Inc. reported strong Q2 results driven by record underlying net income in Asia, with significant growth in protection business and bancassurance sales [3][4][10] - The company maintained a robust capital position with a LICAT ratio of 151%, allowing for stability and flexibility in investments [3][10] - Digital initiatives and innovative GenAI tools are key strategic priorities for enhancing client experience and operational efficiency [3][10] Financial Performance - Underlying net income for Q2 2025 was $1,015 million, a 2% increase from Q2 2024 [4][8] - Reported net income for common shareholders was $716 million, reflecting an 11% increase year-over-year [4][10] - Underlying EPS was $1.79, while reported EPS was $1.26, showing improvements from the previous year [4][10] Business Segment Highlights - Asia segment achieved underlying net income of $206 million, a 15% increase from the prior year, driven by strong sales and profit margins [25][27] - Canada segment reported underlying net income of $379 million, a decrease of 6% from the previous year, impacted by higher expenses and unfavorable mortality experience [17][19] - U.S. segment's underlying net income was US$143 million, down 4% year-over-year, affected by an impairment charge related to a dental contract [21][22] Sales and Growth Metrics - Bancassurance sales in Asia increased by 15%, with notable growth in markets like Hong Kong, India, and the Philippines [3][4] - Total assets under management (AUM) reached $1,541 billion, a 5% increase from the previous year [4][8] - Group Health & Protection sales rose by 8% year-over-year, while Individual Protection sales increased by 15% [9][31] Strategic Initiatives - The company is focusing on digital transformation to improve client engagement and streamline processes [3][20] - Sun Life's acquisition of Bowtie Life Insurance Company Limited aims to enhance health insurance accessibility in Hong Kong [28] - The launch of new services, such as the Expert Cancer Review, reflects the company's commitment to providing comprehensive health solutions [24][20]

Financial Performance - Millicom's Q2 2025 service revenue was $1282 million, a 59% decrease compared to Q2 2024[66] - Adjusted EBITDA margin increased to 467% in Q2 2025 from 435% in Q2 2024, a 32 percentage point increase[18, 66] - Equity Free Cash Flow (EFCF) for H1 2025 was $395 million, up $126 million compared to H1 2024[67, 70] Key Growth Areas - Postpaid net additions reached 247000 in Q2 2025, compared to 178000 in Q2 2024[17] - Home net additions were 41000 in Q2 2025, compared to 11000 in Q2 2024[18] - Mobile service revenue organic YoY growth was 46% in Q2 2025[22] Strategic Initiatives - Millicom is pursuing strategic projects including infrastructure sales and a combination with Liberty Latin America[56] - The company is awaiting regulatory approval for the acquisition of Coltel (TEF) in Colombia and EPM stake in TIGO-UNE[58, 60] - Millicom closed the Paraguay towers deal with Atis Group in Q2 2025 and executed a partial closing with SBA, with the remaining SBA closing expected in Q3 2025[60] Financial Targets - Millicom targets Equity Free Cash Flow of around $750 million for 2025[89] - The company aims for leverage below 25x at year-end 2025[90] - Millicom plans a dividend of $300 per share, targeting to sustain or grow it every year, with an interim dividend of $250 per share[91]

Core Insights - WSP Global Inc. reported strong financial performance for Q2 2025, with an 80 basis points increase in adjusted EBITDA margin compared to Q2 2024, and significant free cash inflow [2][7][8] - The company expects adjusted EBITDA for 2025 to reach the higher end of the previously issued range due to continued strong performance across key markets [2][7][8] Financial Performance - Revenues for Q2 2025 were $4,508.3 million, a 14.6% increase from $3,932.9 million in Q2 2024, while net revenues rose by 16.3% to $3,476.0 million [3][7][16] - Adjusted EBITDA for the quarter increased by 21.7% to $632.8 million, with an adjusted EBITDA margin of 18.2%, up from 17.4% in Q2 2024 [3][7][29] - Net earnings attributable to shareholders reached $279.4 million, or $2.14 per share, marking a 51.8% increase compared to $184.1 million, or $1.48 per share, in Q2 2024 [3][7][30] Cash Flow and Debt Management - Cash inflows from operating activities for the six-month period ended June 28, 2025, were $821.7 million, significantly up from $193.1 million in the same period of 2024 [7][31] - Free cash inflow for the six-month period was $572.5 million, a substantial improvement from a free cash outflow of $49.8 million in the prior year [7][31] - The net debt to adjusted EBITDA ratio improved to 1.5x, within the management's target range of 1.0x to 2.0x [7][6] Backlog and Growth - The backlog as of June 28, 2025, reached $16.3 billion, a 10.9% increase year-over-year, representing approximately 11.0 months of revenue [7][8] - The company experienced organic growth in net revenues of 3.5%, with acquisition growth contributing 10.4% to the overall revenue increase [7][8] Dividend Declaration - WSP declared a quarterly dividend of $0.375 per share, payable on or about October 15, 2025, to shareholders of record as of September 30, 2025 [9][10]

Second Quarter 2025 Financial Results (unaudited) August 5, 2025 1 Disclaimer - Forward-looking statements and Third-Party Data This presentation and the accompanying oral presentation include "forward- looking statements," that reflect our current expectations and views of future events. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, futu ...

Formal Business - Dr Adir Shiffman was re-elected as a Director with 85.99% (148,549,290 votes) in favor and 13.85% (23,924,461 votes) against[27, 42] - Mr Igor van de Griendt was re-elected as a Director with 95.59% (165,236,395 votes) in favor and 4.25% (7,352,702 votes) against[30, 42] - The Remuneration Report was adopted with 82.17% (113,119,413 votes) in favor and 17.21% (23,696,492 votes) against[33, 42] - The prior issue of the First and Second Tranches of the Share Consideration to the Perch Vendors was ratified with 99.79% (176,691,924 votes) in favor and 0.05% (93,306 votes) against, involving 2,498,227 fully paid ordinary Shares[35, 42] - The prior issue of Securities under the Company's Employee Share Plan (ESP) was ratified with 99.02% (175,311,724 votes) in favor and 0.83% (1,472,558 votes) against, involving 14,662,950 Securities and the issue to the trustee of 9,770,000 ordinary Shares on June 27, 2025[36, 42] - The grant of 455,735 Securities to Mr Will Lopes, the CEO & MD, under the ESP for the FY26 service year was approved with 85.95% (149,952,602 votes) in favor and 13.57% (23,667,381 votes) against[38, 42] - The change of Company name from "Catapult Group International Ltd" to "Catapult Sports Ltd" was approved with 99.73% (176,577,734 votes) in favor and 0.12% (207,502 votes) against[40, 42]

Core Insights - Hepsiburada reported a gross merchandise value (GMV) increase of 11.9% to TRY 51.1 billion in Q2 2025 compared to TRY 45.6 billion in Q2 2024, while the IAS 29-unadjusted GMV increased by 52.2% to TRY 50.3 billion [4][13] - Revenue for Q2 2025 rose by 22.6% to TRY 16,743.8 million from TRY 13,657.3 million in Q2 2024, driven by a 25.2% increase in 1P revenue and a 24.9% increase in delivery service revenue [24][21] - The company experienced a net loss of TRY 723.8 million in Q2 2025, a 39.4% increase from a net loss of TRY 519.3 million in Q2 2024, primarily due to increased provision expenses and financial costs [31][10] Financial Highlights - The EBITDA for Q2 2025 increased by 41.6% to TRY 739.5 million compared to TRY 522.1 million in Q2 2024, with EBITDA as a percentage of GMV improving to 1.4% from 1.1% [4][32] - Free cash flow turned positive with an inflow of TRY 3,405.2 million in Q2 2025, compared to an outflow of TRY 870.4 million in Q2 2024 [33] - The active customer base decreased by 0.8% to 12.0 million as of June 30, 2025, compared to 12.1 million a year earlier [4][9] Operational Metrics - The number of orders (excluding digital products and HepsiExpress) increased by 8.1% to 18.9 million in Q2 2025, while the average order value grew by 5.3% [4][13] - The share of marketplace GMV was 68.2% in Q2 2025, down from 71.1% in Q2 2024 [4][13] - Active merchants decreased by 0.7% to 100.3 thousand compared to 100.9 thousand as of June 30, 2024 [4][9] Inflation and Accounting Standards - The financial statements are restated under IAS 29 due to hyperinflation in Turkey, with the conversion factor for June 30, 2025, set at 3,132.2 [3][2] - The annual inflation rate as of June 30, 2025, was reported at 35.1%, a decline from 71.6% a year earlier [28] Strategic Initiatives - The company is focusing on improving margins and driving sustainable growth while enhancing its operational fundamentals [11] - Hepsiburada's "Technology Empowerment for Women Entrepreneurs" program has supported approximately 65,000 women entrepreneurs as of June 30, 2025 [18]

Financial Performance - Codere Online's Q2 2025 Net Gaming Revenue (NGR) reached €54.8 million, a 1% increase compared to Q2 2024, but a 12% increase at constant FX [28] - The company achieved a positive Adjusted EBITDA of €2.3 million in Q2 2025 [28] - Spain's NGR increased by 1% in Q2 2025, reaching €22.1 million [33, 48] - Mexico's NGR increased by 3% in Q2 2025 to €29 million, but increased 23% at constant currency [33, 55] Key Performance Indicators - Average Monthly Actives were approximately 155,000 in Q2 2025, a 7% increase compared to Q2 2024 [28] - The Average Monthly Spend per Active was €118, a 5% decrease compared to Q2 2024 [28] - Codere Online had approximately 277,000 new customer registrations with 78,000 First Time Deposits (FTDs) in Q2 2025, resulting in a 28% Conversion Rate [28] - The Cost per Acquisition (CPA) was €218 in Q2 2025 [28] Outlook - Codere Online projects a 2025 Net Gaming Revenue (NGR) between €220 million and €230 million [78] - The company anticipates an Adjusted EBITDA between €10 million and €15 million for 2025 [78]