Diriyah project masterplan/Image: SuppliedParsons Corporation announced that it has been awarded a SAR210m ($56m) contract for Phase 2 of the Diriyah project by Diriyah Company, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund (PIF). The five-year contract, secured in the first half of 2025, represents new work for the company and further strengthens its long-standing partnership with the Kingdom.Under the contract, Parsons will lead the design and delivery of a series of iconic and neigh ...

Gentrification is reshaping cities across America. Here in Brooklyn, one artist is fighting to preserve his neighborhood's history from inside his car. I feel like Dxilandia lends itself to like capture the story of 40, 50, 60 years of a neighborhood.>> Modesto Flaco Himenez grew up in Bushwick and now drives its streets, sharing the neighborhood's heritage, culture, and resilience through his cab tour, Daxandia. >> Copy that. We'll tell them you'll be for an hour.>> Dispatch, >> what inspired me to make Ta ...

Core Insights - Keppel Ltd. has experienced a 29% year-to-date increase in share price due to strong business execution and a strategic shift from a conglomerate model to an asset-light global alternative real asset manager focusing on digital and green energy infrastructure [1][2] Business Transformation - The company is divesting legacy businesses and assets, reallocating proceeds into recurring income-generating assets such as data centers, renewables, and sustainable infrastructure, which aligns with long-term growth trends [2] - Keppel's urban development projects span multiple countries, providing a long-term pipeline for growth [9] Financial Performance - In 1H2025, Keppel reported a 5% year-on-year decrease in revenue to S$3.06 billion, while net profit surged 24% year-on-year to S$378 million [3] - Recurring income (excluding non-core portfolio for divestment) increased by 7.2% year-on-year to S$444 million [3] - The Real Estate segment saw a 45% year-on-year revenue increase to S$95 million, with net profit of S$98 million due to higher asset management fees and lower costs [4] - Infrastructure revenue declined 12% year-on-year to S$2.0 billion, accounting for 65.7% of total revenue, while net profit decreased 5% year-on-year to S$346 million [5] - Connectivity revenue increased 14% year-on-year to S$743 million, but net profit fell 19% year-on-year to S$57 million due to lower valuation gains [6] Growth Drivers - Singapore's Green Plan 2030 aims for 80% green buildings and increased solar energy, indicating a growing demand for green energy infrastructure [7] - As of 1H2025, Keppel has S$91 billion in funds under management, with S$25 billion undeployed, and secured an additional S$2.3 billion from institutional investors for investment in data centers and sustainable urban renewal [8] Debt and Dividends - Keppel's net debt stood at S$9.9 billion as of June 30, 2025, with a net gearing ratio of 0.9 times [13] - A dividend of S$0.15 per share was declared for 1H2025, translating to a yield of approximately 3.9% at the current share price of S$8.82 [13] Market Outlook - The company's successful transition and execution are critical for maintaining share price momentum, with current valuation at 17.8 times trailing earnings [14] - Continuous execution is necessary for Keppel to compound value in its new growth pillars [15]

Group 1 - Nexity has announced the implementation of a share buyback program, authorized at the Shareholders' General Meeting on 22 May 2025, covering a maximum of 200,000 shares [2] - The shares acquired through the buyback will be allocated to cover free share plans, particularly for employee share ownership schemes [2] Group 2 - In 2024, Nexity reported revenues of €3.5 billion and operates as an urban operator focused on urban regeneration and regional needs [3] - The company emphasizes its dual expertise as a planner/developer and developer/operator, offering a multiproduct range of services and solutions [3] - Nexity is committed to affordable and sustainable real estate, being recognized as France's number-one low-carbon project owner for six consecutive years [3] - The company ranked fifth in customer relations according to Les Échos and HCG, and received a 5 out of 5 rating from Humpact for its human capital development [3] - Nexity is listed on the SRD, Euronext's Compartment B, and the SBF 120 [3]

Policy & Development - Xiongan is undertaking real policy experiments as people move in [1] - Planners in Xiongan are targeting some of China's most persistent problems [1]

Core Insights - Parsons Corporation reported record first quarter results for total revenue, net income, earnings per share, adjusted EBITDA, and backlog, indicating strong performance and growth potential [3][5][8]. Financial Performance - Total revenue for Q1 2025 increased by $19 million, or 1%, to $1.6 billion, with a 2% decline on an organic basis. Excluding a confidential contract, total revenue growth was 11% and organic revenue growth was 7% [5][8]. - Operating income rose by 7% to $109 million, while net income surged by 67% to $66 million, attributed to improved operating performance and a prior year loss from convertible debt repurchase [5][8]. - GAAP diluted earnings per share (EPS) increased to $0.60 from $0.37 year-over-year, reflecting strong financial results [5][8]. Adjusted Metrics - Adjusted EBITDA for Q1 2025 was $149 million, a 5% increase from the previous year, with an adjusted EBITDA margin expanding by 40 basis points to 9.6% [6][8]. - Adjusted EPS rose to $0.78 from $0.70, driven by the increase in adjusted EBITDA [6][8]. Segment Performance - The Federal Solutions segment experienced a revenue decline of 7% to $842.6 million, but showed an 8% increase when excluding the confidential contract [9][10]. - The Critical Infrastructure segment reported a 14% revenue increase to $711.8 million, driven by organic growth and contributions from recent acquisitions [11][12]. Backlog and Book-to-Bill Ratio - Total backlog reached a record $9.1 billion, up $42 million from Q1 2024, with a book-to-bill ratio of 1.1x supported by a 1.4x ratio in the Critical Infrastructure segment [8][14]. - The company won four contracts worth over $100 million each during the first quarter, contributing to strong net bookings of $1.8 billion [14][18]. Corporate Highlights - Parsons was recognized as one of the World's Most Ethical Companies for the 16th consecutive year, reflecting its commitment to responsible enterprise practices [16][18]. - The Board of Directors increased the stock repurchase authorization to $250 million, with approximately 424,000 shares repurchased at an average price of $58.95 during Q1 2025 [18][19]. Fiscal Year Guidance - The company reiterated its fiscal year 2025 guidance for revenue between $7.0 billion and $7.5 billion, adjusted EBITDA of $640 million to $710 million, and cash flow from operations of $420 million to $480 million [19][17].

King Salman Park Parsons will provide Project Office Management services for King Salman Park, one of the world's most unique urban transformation projects. CHANTILLY, Va., April 23, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been awarded a contract for Project Management Office (PMO) services by the King Salman Park Foundation for King Salman Park. This 25-month contract marks new work for Parsons. King Salman Park is one of the world's most unique urban trans ...