Ferretti (SEHK:09638) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAlberto Galassi - CEOMarco Zammarchi - CFOMargherita Sacerdoti - Head of Investor Relations and SustainabilityNatasha Brilliant - Executive DirectorConference Call ParticipantsAdrien Duverger - Equity Research AnalystEmanuele Gallazzi - Equity AnalystMargherita SacerdotiGood afternoon, everyone, welcome to Ferretti Group 2025 Preliminary Results Webinar. Thank you all for joining us. We appreciate your time and int ...

Ferretti (SEHK:09638) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Speaker4Good afternoon, everyone, welcome to Ferretti Group 2025 preliminary results webinar. Thank you all for joining us. We appreciate your time and interest in Ferretti Group as we share an overview of our performance over the past year and discuss the outlook for the future. Before we begin, let me introduce our speakers: Mr. Alberto Galassi, Chief Executive Officer; Mr. Marco Zammarchi, Chief Financial Officer; myself, Head of I ...

Standard Chartered (SEHK:02888) Q4 2025 Earnings call February 24, 2026 03:00 AM ET Company ParticipantsAman Rakkar - Director and Head of UK Banks CoverageBill Winters - Group Chief Executive OfficerChen Li - Chief Economist and Head of ResearchEdward Firth - Managing DirectorJason Napier - Managing Director and the Head of European Banks ResearchJoseph Dickerson - Managing Director and Head of European Banks ResearchManus Costello - Global Head of Investor RelationsPeter Burrill - Interim Group Chief Fina ...

Financial Data and Key Metrics Changes - The underlying Return on Tangible Equity for 2025 was 14.7%, with record annual income of $20.9 billion, up 8% year-on-year [3][5] - Profit before tax increased by 18% to $7.9 billion, with earnings per share rising by 37% [12][21] - The full-year net interest income (NII) was $11.2 billion, up 1%, while non-NII increased by 13% year-over-year [13][14] Business Line Data and Key Metrics Changes - Corporate and Institutional Banking (CIB) income was $12.4 billion, up 4%, with Global Banking up 15% and Global Markets up 12% [22][23] - Wealth and Retail Banking (WRB) income was $8.5 billion, up 6%, driven by a 24% increase in Wealth Solutions [24][30] - The affluent segment saw a cumulative total of $52 billion in net new money for 2025, reflecting a 14% growth in affluent AUM [24][30] Market Data and Key Metrics Changes - Underlying customer deposits increased by 12% in the year, with growth in CASA and term deposits across WRB and CIB [20] - Risk-weighted assets were $258 billion, up 4% in 2025, with a CET1 ratio of 14.1% [21] Company Strategy and Development Direction - The company plans to shift to reporting on a reported basis, moving away from underlying financials to provide clearer financial disclosures [6][25] - The focus remains on sustainable growth, with a commitment to maintaining a high-performance culture and optimizing resources [7][29] - The company aims to create a distinctive and high-performing institution that delivers growth across all dimensions for clients and shareholders [36] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the resilience of global trade and capital flows despite geopolitical tensions and market volatility [2][4] - The outlook for 2026 anticipates income growth at the lower end of the historical 5-7% range, with a focus on maintaining a statutory return on tangible equity of greater than 12% [25][26] Other Important Information - A new $1.5 billion share buyback was announced, alongside a 65% increase in the full-year dividend per share [4][21] - The company has mobilized $157 billion in sustainable finance since 2021, aiming for $300 billion by 2030 [34] Q&A Session Summary Question: On investments and account opening capacity in wealth - The company is currently delivering 60,000 new clients per quarter without capacity constraints, with ongoing investments to remove bottlenecks [39][41] Question: On episodic income performance in Q4 - Q4 episodic income was weak due to large client transactions, but overall growth in financial markets remains strong [46][49] Question: On net interest income and HIBOR impact - The majority of the NII increase in Q4 was due to HIBOR movements, and Q4 should not be used as a baseline for future projections [61][65] Question: On guidance for income growth and dividend payout ratio - The company expects double-digit growth in non-interest income, with a focus on broad-based growth across all business lines [71][84]

Standard Chartered (SEHK:02888) Q4 2025 Earnings call February 24, 2026 03:00 AM ET Speaker4Good morning, and good afternoon, everyone, and welcome to our full year 2025 results call. I'm joined here in London by Pete Burrill, our interim group CFO, and Manus Costello, our global head of Investor Relations. We'll take you through our results and outlook before opening up for questions. 2025 was an extraordinary year by any measure. It tested the resilience of the global system and the relevance of instituti ...

Financial Data and Key Metrics Changes - Fourth quarter 2025 sales revenue reached an all-time high of $659.9 million, a 22.4% increase compared to Q4 2024 and a 3.9% increase over Q3 2025 [3][7] - Gross margin for Q4 2025 was 13%, up 1.6 percentage points from Q4 2024, driven by improved average selling prices and cost reduction efforts [8] - For the full year 2025, revenue was $2.4 billion, a growth of 19.9% year-on-year, with a gross margin of 11.8% [17][18] - Net loss for Q4 2025 was $18.7 million, narrowed by 80.6% compared to Q4 2024 [9] Business Line Data and Key Metrics Changes - Revenue from embedded non-volatile memory was $180.2 million, a 31.3% increase compared to Q4 2024, driven by demand for MCU and smart car ICs [11] - Revenue from power discrete was $168.9 million, a 2.4% increase compared to Q4 2024, mainly due to demand for general MOSFET products [11] - Revenue from analog and power management IC was $173.8 million, a 40.7% increase over Q4 2024, driven by demand for power management IC products [12] Market Data and Key Metrics Changes - Revenue from China was $539.3 million, contributing 81.8% of total revenue, a 19.6% increase compared to Q4 2024 [10] - Revenue from North America was $72.8 million, a 51.3% increase compared to Q4 2024 [10] - Revenue from Europe was $19.3 million, a 35.6% increase compared to Q4 2024, driven by demand for MCU and IGBT products [10] Company Strategy and Development Direction - The company is focused on developing world-class specialty technology platforms and deepening collaborations with strategic customers [5] - The first phase of capacity construction for the second 12-inch production line in Wuxi exceeded expectations, and the acquisition of the Shanghai 12-inch manufacturing base progressed as planned [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in seizing growth opportunities amid changes in the global semiconductor industry, particularly driven by AI demand [5] - The company expects revenue for Q1 2026 to be in the range of $650 million to $660 million, with a projected gross margin of 13% to 15% [19] Other Important Information - Capital expenditures in Q4 2025 were $633.5 million, with significant investments in both 12-inch and 8-inch production lines [12] - Cash and cash equivalents increased to $4.196 billion by December 31, 2025, compared to $3.9047 billion at the end of Q3 2025 [14] Q&A Session Summary Question: Strategic results from the acquisition of Huali - The acquisition of Fab Five is expected to enhance long-term growth by increasing company scale and optimizing technology distribution across manufacturing capacities [22][23] Question: Supply-demand relation of 8-inch and 12-inch mature fab business - Management noted that changes in ownership of foundry capacities do not significantly alter supply-demand dynamics, and the overall trend is positive for the company [25][26] Question: Capacity utilization rate and its drivers - A slight decline in capacity utilization was attributed to the rapid ramp-up of Fab Nine, with management indicating that the change is minimal [30] Question: Future performance drivers related to AI products - AI-related products are expected to drive significant revenue growth, particularly in power management and automotive sectors [33][34] Question: Sustainability of current memory cycle - Management acknowledged the cyclical nature of the memory market but indicated that the current cycle driven by AI may last longer than previous cycles [37] Question: Price sustainability amid rising raw material costs - Management does not foresee significant increases in costs due to raw material prices, as domestic materials are becoming more competitive [45] Question: Equipment localization rate for Fab Nine B - The localization rate for equipment in Fab Nine B is expected to be higher than that of Fab Nine A, reflecting improvements in domestic equipment capabilities [71]

Financial Data and Key Metrics Changes - Fourth quarter 2025 sales revenue reached an all-time high of $659.9 million, a 22.4% increase compared to Q4 2024 and a 3.9% increase over Q3 2025 [3][7] - Gross margin for Q4 2025 was 13%, up 1.6 percentage points from Q4 2024, driven by improved average selling prices and cost reduction efforts [8] - Net loss for the period was $18.7 million, narrowed by 80.6% compared to Q4 2024, but widened by 159.9% from Q3 2025 [9] - For the full year 2025, revenue was $2.4 billion, a growth of 19.9% over the prior year, with a gross margin of 11.8% [17][18] Business Line Data and Key Metrics Changes - Revenue from embedded non-volatile memory was $180.2 million, an increase of 31.3% compared to Q4 2024 [11] - Revenue from standalone non-volatile memory was $56.6 million, up 22.9% compared to Q4 2024 [11] - Revenue from power discrete was $168.9 million, a 2.4% increase compared to Q4 2024 [11] - Revenue from analog and power management IC was $173.8 million, a 40.7% increase over Q4 2024 [12] Market Data and Key Metrics Changes - Revenue from China was $539.3 million, contributing 81.8% of total revenue, a 19.6% increase compared to Q4 2024 [10] - Revenue from North America was $72.8 million, a 51.3% increase compared to Q4 2024 [10] - Revenue from Europe was $19.3 million, a 35.6% increase compared to Q4 2024 [10] Company Strategy and Development Direction - The company is focused on developing world-class specialty technology platforms and deepening collaborations with strategic customers [5] - The first phase of capacity construction for the second 12-inch production line in Wuxi exceeded expectations, with plans for further expansion [4][5] - The company aims to optimize the distribution of specialty technologies across its manufacturing capacity to enhance efficiency and profitability [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in seizing growth opportunities amid changes in the global semiconductor industry, particularly driven by AI demand [5] - The company anticipates revenue for Q1 2026 to be in the range of $650 million to $660 million, with a projected gross margin of 13% to 15% [19] - Management noted that the current semiconductor market dynamics, particularly in logic and memory, present positive opportunities for pricing adjustments [26] Other Important Information - Capital expenditures in Q4 2025 were $633.5 million, with significant investments in both 12-inch and 8-inch production lines [12] - Cash and cash equivalents increased to $4.196 billion by December 31, 2025, compared to $3.9047 billion at the end of Q3 2025 [14] - Total assets increased to $14.4538 billion, with total liabilities rising to $5.2895 billion, resulting in a debt ratio of 36.6% [17] Q&A Session Summary Question: Strategic results from the acquisition of Huali - The acquisition of Fab Five is expected to enhance long-term growth by increasing company scale and optimizing technology distribution across manufacturing capacities [22][23] Question: Supply-demand relation of 8-inch and 12-inch mature fab business - Management noted that changes in ownership of foundry capacities do not significantly alter supply-demand dynamics, and the overall market conditions are viewed positively for logic foundries [25][26] Question: Capacity utilization rate and its drivers - A slight decline in capacity utilization was attributed to the ramp-up of Fab Nine, with expectations for quick reallocation of capacity across platforms [30] Question: Future performance drivers related to AI products - AI-related products are expected to drive significant growth, particularly in power management and automotive sectors [32][34] Question: Sustainability of current memory cycle - Management acknowledged the cyclical nature of the memory market but expressed optimism about sustained growth driven by AI demand in the near future [37] Question: Price sustainability amid rising raw material costs - Management indicated that while some raw material costs are rising, overall cost structure is not expected to be significantly impacted due to increased use of domestically produced materials [45] Question: Equipment localization rate for Fab Nine B - The localization rate for equipment in Fab Nine B is expected to be higher than that of Fab Nine A, reflecting improvements in domestic equipment capabilities [69]

Financial Data and Key Metrics Changes - Hua Hong Semiconductor reported Q4 2025 sales revenue of $659.9 million, a 22.4% increase compared to Q4 2024 and a 3.9% increase over Q3 2025, driven by increased wafer shipments and improved average selling prices [3][6] - The gross margin for Q4 2025 was 13%, up 1.6 percentage points from Q4 2024, primarily due to improved average selling prices and cost reduction efforts [7] - For the full year 2025, the company achieved sales revenue of $2.4 billion, a 19.9% growth year-on-year, with a gross margin of 11.8% [16][17] Business Line Data and Key Metrics Changes - Revenue from embedded non-volatile memory was $180.2 million, a 31.3% increase compared to Q4 2024, driven by demand for MCUs and smart car ICs [11] - Revenue from power discrete was $168.9 million, a 2.4% increase compared to Q4 2024, mainly due to demand for general MOSFET products [11] - Revenue from analog and power management IC was $173.8 million, a 40.7% increase over Q4 2024, driven by demand for power management IC products [12] Market Data and Key Metrics Changes - Revenue from China was $539.3 million, contributing 81.8% of total revenue, a 19.6% increase compared to Q4 2024 [10] - Revenue from North America was $72.8 million, a 51.3% increase compared to Q4 2024, driven by demand for power management ICs and MCUs [10] - Revenue from Europe was $19.3 million, a 35.6% increase compared to Q4 2024, mainly due to demand for MCUs and IGBT products [10] Company Strategy and Development Direction - The company plans to maintain a strong focus on developing world-class specialty technology platforms and deepen collaborations with strategic customers domestically and internationally [5] - The first phase of capacity construction for the second 12-inch production line in Wuxi exceeded expectations, and the acquisition of the Shanghai 12-inch manufacturing base progressed as planned [4] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in seizing growth opportunities amid changes in the global semiconductor industry, particularly driven by AI demand [5] - The company expects revenue for Q1 2026 to be in the range of $650 million to $660 million, with a projected gross margin of 13% to 15% [18] Other Important Information - Net cash flows from operating activities were $246 million, a 29.5% decrease compared to Q4 2024, mainly due to increased payments to suppliers [12] - Capital expenditures in Q4 2025 were $633.5 million, including significant investments in 12-inch and 8-inch production lines [12] Q&A Session Summary Question: Strategic results from the acquisition of Huali - The acquisition of Fab Five is expected to enhance long-term growth by increasing company scale and optimizing the distribution of specialty technologies across manufacturing capacity [21][22] Question: Supply-demand relation of 8-inch and 12-inch mature fab business - Management noted that changes in ownership of foundry capacity do not significantly alter supply-demand dynamics, and the overall trend is positive for the company due to its focus on logic foundry business [24][25] Question: Capacity utilization rate and demand drivers - The slight decline in capacity utilization is attributed to the ramp-up of Fab Nine, with expectations for AI-related products to drive future revenue growth [30][32] Question: Sustainability of current memory cycle - Management acknowledged the cyclical nature of the memory market but indicated that the current cycle driven by AI may last longer than previous cycles [38] Question: Price sustainability amid rising raw material costs - Management does not foresee significant increases in costs from raw materials, as domestic materials are becoming more competitive [44][45] Question: Equipment localization rate for Fab Nine B - The localization rate for equipment in Fab Nine B is expected to be higher than that of Fab Nine A, reflecting improvements in domestic equipment capabilities [71]

Lenovo Group (SEHK:00992) Q3 2026 Earnings call February 12, 2026 02:00 AM ET Company ParticipantsAshley Gorakhpurwalla - President of Infrastructure Solutions GroupKen Wong - President of Solutions and Services GroupLixi Yuan - Director of Investor RelationsLuca Rossi - President of Intelligent Devices GroupSergio Buniac - SVP of Mobile Business Group and President of MotorolaWinston Cheng - CFOYuanqing Yang - Chairman and CEOLixi YuanGood morning, good afternoon, and good evening. Welcome to Lenovo's Earn ...

Lenovo Group (SEHK:00992) Q3 2026 Earnings call February 12, 2026 02:00 AM ET Company ParticipantsAshley Gorakhpurwalla - President of Infrastructure Solutions GroupKen Wong - President of Solutions and Services GroupLixi Yuan - Director of Investor RelationsLuca Rossi - President of Intelligent Devices GroupSergio Buniac - SVP of Mobile Business Group and President of MotorolaWinston Cheng - CFOYuanqing Yang - Chairman and CEOLixi YuanGood morning, good afternoon, and good evening. Welcome to Lenovo's Earn ...