Financial Performance - Consolidated revenues reached €928 million, a decrease compared to €960 million in H1 2024, with a -2% organic growth[8] - Gross profit was €626 million with a 675% margin, compared to €637 million and 664% margin in H1 2024[7, 10] - Adjusted EBIT was €69 million with a 74% margin, down from €81 million and 84% margin in H1 2024[7, 17] - Profit reached €479 million, a +53% increase compared to H1 2024, with the profit margin rising to 52% from 33%[7, 19] Segment Performance - ZEGNA segment revenues were €660 million, with an Adjusted EBIT of €94 million and a margin of 143%, up from €85 million and 128% in H1 2024[15] - THOM BROWNE segment revenues were €129 million, with an Adjusted EBIT of €4 million and a margin of 35%, significantly lower than the 121% margin in H1 2024[15] - TOM FORD FASHION segment revenues were €153 million, with a negative Adjusted EBIT of €19 million, compared to negative €12 million in H1 2024[15] Channel and Geographic Performance - Direct-to-Consumer (DTC) channel accounted for 82% of total branded products revenues in H1 2025, up from 76% in H1 2024[11] - Total Direct to Consumer revenues reached €698035 thousand, a 42% increase compared to €669599 thousand in H1 2024[46] - Greater China Region revenues decreased by 162% to €223101 thousand, compared to €266324 thousand in H1 2024[48] Capital and Cash Flow - Capital expenditure (Capex) in H1 2025 was €54 million, compared to €60 million in H1 2024[24] - Trade working capital was €442 million as of June 30, 2025, down from €476 million as of June 30, 2024[24] - Free Cash Flow was negative €23109 thousand[76]

Financial Performance - AmRest's H1'25 revenues reached EUR 1,261.9 million, a 2.5% increase compared to H1'24, or 3.9% excluding disposals[7, 15] - Adjusted EBITDA for H1'25 was EUR 196.5 million, flat compared to last year[7] - EBIT for H1'25 was EUR 47.5 million, resulting in a 3.8% EBIT margin compared to 1.9% in H1'24[7] - Q2'25 sales grew by 0.4% compared to Q2'24, or 3.9% excluding SCM, reaching EUR 641.7 million[28] - Q2'25 EBITDA amounted to EUR 107.7 million, with a 16.8% margin[28, 31] - Net profit in Q2'25 was EUR 7.8 million, compared to a loss of EUR 23.1 million in the same period of 2024[41, 42] Restaurant Portfolio and Operations - The company had 2,103 restaurants as of June 30, 2025[3, 22, 70] - Equity restaurants constitute 88% of the total restaurant portfolio[22] - Digital sales accounted for 57% of total AmRest & dine-in sales in H1'25[19] - The company opened 36 new restaurants in H1'25[7, 26] Segment Performance (Q2'25) - CEE region revenues reached EUR 399.5 million, an 8.3% increase compared to Q2'24, with an EBITDA of EUR 78.9 million and a 19.8% margin[54, 57] - WE region revenues were EUR 219.6 million, a 1.9% decrease compared to Q2'24, with an EBITDA of EUR 33.7 million and a 15.3% margin[59, 62] - China revenues reached EUR 22.6 million, a 9.6% decrease compared to Q2'24, with an EBITDA of EUR 5.2 million and a 22.8% margin[64, 67]

Offer Summary - BBVA offers Banco Sabadell shareholders a unique opportunity to be captured now [1] - The offer has been authorized by the Spanish Securities Market Commission [3] - The offer consideration includes both BBVA shares and cash [39] - The offer is subject to acceptance of >50% of voting rights [39] Strategic Rationale and Synergies - The strategic rationale is even more convincing since the announcement, driven by European focus on investment, need for larger banks, and technological disruption [14, 16] - Increased annual synergies post-merger are estimated at €1.45 billion pre-tax [34] - Cost synergies account for €900 million, including €510 million in opex savings and €325 million in personnel cost savings [34] - Funding synergies are projected at €65 million [34] Financial Impact and Valuation - The current equivalent value of the offer is €17.4 billion [39] - The offer represents a premium of 30% over the undisturbed price [39] - BBVA shareholders are expected to see a +5% EPS accretion post-merger [61] - Sabadell shareholders are expected to see a +25% EPS accretion post-merger [61]

Financial Performance & Targets - Information & Communication business achieved net sales of JPY 929.3 billion and a non-GAAP operating profit of JPY 50.2 billion in FY2024, with an operating margin of 5.4%[7] - The FY2025 plan aims to increase profit through scaling the digital business and structural reforms of existing businesses[9] - The company projects sales of JPY 907.0 billion and a 7% non-GAAP operating margin for FY2025, and targets sales of JPY 921.0 billion with a non-GAAP operating margin of over 10% by FY2030[30] - The company aims to increase the portion contributed by growth fields to 60% by FY2030, with sales of JPY 542.0 billion and a non-GAAP operating margin of 10%+[30] Business Strategy & Growth Initiatives - The company is shifting from providing standalone digital solutions to "continuous services" that combine multiple solutions, including operational support, to establish a cyclical business model[17, 19] - The company is concentrating on target markets and bolstering proposal activities, focusing on Security, Marketing DX, BPO, and IoT/Auto-ID, with a combined SAM of approximately JPY 6.1 trillion in 2030 and a market growth rate of approximately 7.6%[20, 21] - The company is integrating TOPPAN, TOPPAN Edge, and TOPPAN Digital to strengthen and optimize resources, aiming to visualize the skills of approximately 6,000 DX personnel and reallocate resources[23, 24] - The company is strengthening AI utilization and AI service development to enhance internal productivity and accelerate the provision of high-value-added services incorporating AI[25, 26] Security DX - The company aims to expand its security DX business by shifting from a physical-centric business to a more digital one, centered on data management in secure environments[52, 53] - The company estimates the security DX market potential in Japan to be nearly JPY 2 trillion with a CAGR of approximately 10%[67] - The company is leveraging businesses and manufacturing facilities acquired through M&A to expand the payment and personal ID businesses, focusing on the Global South[76, 78] Marketing DX - The company aims to contribute to "subtraction (reducing costs through marketing BPR)" and "addition (generating profit by enhancing customer experience)" in clients' businesses through marketing DX[94] - The company estimates the marketing DX market with an estimated SAM of JPY 1.3 trillion in FY2024 and a CAGR of 7.7%[96, 97] - The company aims to achieve JPY 100 billion in sales for Marketing DX by FY2030 by providing end-to-end marketing DX and accelerating talent development[117] BPO - The company's BPO business delivers value by leveraging strengths in highly-specialized BPR consulting and business process design capabilities, rooted in an understanding of systems and industries cultivated in the public and financial sectors[140] - The company estimates the SAM of BPO for complex operations is approximately JPY 630 billion, with a CAGR of approximately 5.0%[143] - The company intends to expand sales revenue from JPY 77.0 billion to JPY 83.0 billion towards 2030, growing complex operations at a CAGR of 10% and shifting the proportion of complex operations from 40% to 60%, aiming to enhance profitability and raise operating profit margin from 8% to 15%[164, 165] IoT / Auto-ID - The company is shifting from single items and a one-time model to integrated packaged services and a continuous model in the IoT/Auto-ID business[173] - The company's mission is to give an ID to everything, generate data, and create customer value to enable a society in which all "things" are linked[178] - The company estimates the 2025 SAM for high-value-added RFID markets to be JPY 252.7 billion, growing to JPY 404.2 billion by 2030, with a CAGR of 9.9%[183]

Financial Performance - Total revenue reached US$139.8 million[10], with the BTC mining business contributing US$138.1 million[11] - Adjusted EBITDA was US$99.1 million, a significant increase compared to US$5.4 million in the same period of 2024[16] - Cash and cash equivalents stood at US$117.8 million as of June 30, 2025[12] Operational Highlights - The company expanded its total mining capacity to 50 EH/s, representing 6% of the global network's computing power as of June 30, 2025[19] - A total of 1,404.4 BTC were mined during the quarter, increasing the company's BTC treasury to 3,879.2 BTC by quarter end[19] - The value of BTC holdings (HODL) was US$420.5 million as of June 30, 2025[19] - Average cash cost to mine was US$83,091 per BTC[20] Strategic Initiatives - Completed the share-based acquisition of 18 EH/s of hashrate[19, 54] - Cango acquired a 50 MW mining facility in Georgia, USA, with 30 MW for self-mining and 20 MW for hosting services[56] Key Metrics - Cumulative Coins per Million ADS was 21.9 BTC in Q2 2025[14, 22] - Total Operating Capacity reached 1,200 MW as of June 30, 2025[20, 34]

Company Overview - West African Resources (WAF) aims to become a sustainable +500koz gold producer by 2029 [37, 98] - The company targets an average production of 477,000 oz per annum from 2025 to 2034 [44] - WAF's market capitalization is A$3,252 million as of August 25, 2025, with 1,141,029,225 ordinary shares outstanding at A$2.85 per share [24, 25] - As of June 30, 2025, the company holds A$328 million in cash and bullion [24] Operations and Resources - The company's mineral resources are estimated at 12.2 Moz of gold [24, 98, 102] - Ore reserves are estimated at 6.5 Moz of gold, with 83% of the production target based on ore reserves [24, 98] - The Sanbrado Gold Mine has resources of 4.7 Moz gold and reserves of 2.0 Moz gold [49] - The Kiaka Gold Project has resources of 7.5 Moz gold and reserves of 4.5 Moz gold [53] Production and Exploration - The company provides a production guidance of 290,000 - 360,000 oz for 2025 [24] - WAF plans to conduct +200,000m of drilling in 2025-2026 [44, 98] - Key programs for 2025 include 30,000m underground drilling at M5, 15,000m surface drilling beneath M5 open-pit, and 13,500m drilling at Toega [44] Sustainability and Community - In 2024, A$154 million in taxes and royalties were paid to the Government of Burkina Faso [61] - Since the start of mining operations in 2020, US$370 million has been contributed to Burkina Faso in taxes and royalties [67]

Financial Performance Highlights - Total revenue for Q2 FY2026 reached $117 million, a 15% year-over-year increase[12] - Adjusted EBITDA for Q2 FY2026 was $22 million, a 239% year-over-year increase[12] - The company achieved net income of $0.7 million in Q2 FY2026 due to a deferred tax benefit[12] - The company has approximately 4,467 average healthcare services clients (AHSCs) [16] - The company processes over $4 billion in patient payments annually [10,16] - The company's total addressable market (TAM) is approximately $24 billion [36] Acquisition and Future Outlook - The company intends to acquire AccessOne for $160 million in cash, funded through a mix of cash and debt, expected to close in the second half of fiscal year 2026 [10] - The company anticipates AccessOne to contribute approximately $35 million in annualized revenue and $11 million in annualized Adjusted EBITDA [44] - The company projects total revenue for fiscal year 2026 to be between $472 million and $482 million [43] - The company projects Adjusted EBITDA for fiscal year 2026 to be between $87 million and $92 million [43]

AI Knowledge Platform & Market Opportunity - eGain helps companies reduce customer service costs by 75% while improving experience by 20 NPS points using AI Knowledge[7] - The AI Knowledge market represents a $20B+ SaaS opportunity for service[12] - Potential cost savings of $400 billion annually through AI Knowledge solutions[11] Financial Performance & Growth - AI Knowledge ARR grew 25% year-over-year in Q425[37] - AI Knowledge ARR represents 59% of SaaS ARR, up from 52% a year ago[38] - AI Knowledge net retention of 115%, up from 98% a year ago[38] - Total revenue for Q425 was $23.2 million, up 3% year-over-year[42] - SaaS revenue for Q425 was $21.7 million, up 6% year-over-year[42] - The company bought back $3.8 million in stock in Q425[42] FY26 Outlook - Targeting 20+% growth in ARR Knowledge business, with ARR of $44.8M in FY25[48]

Business Overview - Concrete Pumping Holdings (CPH) is a market leader in concrete pumping services in the US and UK, and a leading concrete waste management service provider in the US[8, 12] - CPH's business model is low risk, as it does not purchase, transport, or own concrete, and invoices daily for its services[17] - CPH's competitive advantages include a wide range of equipment, availability, technical expertise, and reliability[19] Financial Performance - TTM Q3'25 Revenue is $396 million[8] - TTM Q3'25 Adjusted EBITDA is $100 million, with a 253% margin[8] - TTM Q3'25 Free Cash Flow is $58 million[8] Growth Strategy - CPH aims to capture greater market share, optimize pricing and utilization, expand Eco-Pan services, pursue acquisitions, and explore greenfield opportunities[25] - The total US market opportunity for Eco-Pan is estimated at over $850 million, with FY24 revenue at $71 million, representing approximately 8% penetration[27] Financial Outlook and Valuation - FY 2025 Revenue outlook is $380-$390 million, and Adjusted EBITDA outlook is $95-$100 million[71] - FY 2025 Free Cash Flow outlook is approximately $45 million, implying a 12% yield to the current equity value of $380 million[71, 72] - The company's net debt is approximately $384 million, with a leverage ratio of 38x[81, 86]

Q2 FY26 Performance Highlights - Total revenue reached $801 million, demonstrating a 9% year-over-year growth[14] - Billings increased by 13% year-over-year, reaching $818 million[14] - Non-GAAP operating margin was 29.8%, resulting in $218 million[14] - Free cash flow represented 27% of total revenue[14] - International revenue grew by 13% year-over-year and accounted for 29% of total revenue[42] Customer Base and Agreement Management - The company has over 1740000 customers and more than 1 billion users across 180+ countries[14] - 95% of Fortune 500 companies are Docusign customers[14] - Docusign is helping 10000+ organizations advance their agreement maturity with IAM[36] Financial Guidance - Q3 FY26 total revenue is projected to be between $804 million and $808 million, representing a 7% year-over-year change[73] - FY26 total revenue is projected to be between $3189 million and $3201 million, representing a 7% year-over-year change[76]