First Quarter 2018 Report English Translation

Size: px
Start display at page:

Download "First Quarter 2018 Report English Translation"

Transcription

1 First Quarter 2018 Report English Translation

2 First Quarter 2018 Report Juno Selection Fund Performance We finished the first quarter, which ended on March 31, with a net asset value of per participation. That represents an increase of 9.7% during the first three months of the year. The return during the first quarter was clearly stronger than could be achieved elsewhere in Europe with an investment in an index. The Euromoney Smaller Company Index decreased by 3.1%, while the Dutch AEX index also declined, by 2.4%. An important milestone was reached during this quarter. On January 11, 2018, the Juno Selection Fund celebrated its ten-year anniversary. The returns that were achieved over this period and the growth in the assets under management in the Fund, both developed in a satisfactory manner. 2

3 Key developments in the portfolio In February Technogym was added to the portfolio. The Italian manufacturer of premium fitness equipment was founded in 1983 by Nerio Alessandri, who is still the CEO of this family business in Cesena. The name and philosophy of the company are a combination of Technology and Fitness. The vision of Alessandri was to improve the fitness experience through technology. At the age of 22 he put together his first strength fitness equipment in his garage and a year after the company was founded the first strength-product line was launched. Soon after, a full line of sports equipment was launched, including cardio machines, with as a common element high-end and high-quality technology combined with stylish Italian design. Since 2000 Technogym is the exclusive supplier of the Olympic Games. In the 1990s, Technogym has grown to become the technological market leader with introductions such as built-in heart rate monitors and a mobile personal electronic key, on which the user can keep track of sports programs and associated data achieved on each fitness machine. Technogym's sports devices have been connected to the Internet for more than 10 years and training programs can be followed on mobile phones via the 'MyWellness Cloud' software. In addition, the fitness club operators get access to data on the use of their equipment via the same Cloud software. This improves preventive maintenance, but also provides useful insights into the behavior of their customer base: visitors who do not achieve their sporting objectives, visit the club less frequently and possibly consider cancelling their membership, can be identified and motivated with new promotions and customized sports programs. The increasing use of Technogym software in fitness studios gives an extra reason to remain loyal to the supplier; existing customers make up the majority of the annual incremental sales growth. The replacement cycle of 5 to 7 years, ensures a high level of recurring turnover. In the fiercely competitive fitness market, sports schools with new(er) equipment can more easily attract members. In addition, the perception of Technogym s high level of innovation gives it an edge on the competition due to the associated superior customer experience. The main competitors, Precor and Life Fitness, are both still part of large conglomerates in which sports equipment does not play a central role. As a result, they have invested relatively little in their fitness products or sales teams in recent years. This offers great opportunities for Technogym with technologically better products and its own direct sales team. Technogym has grown into a focused global player that is active in more than 100 countries. Every day, 40 million people train on Technogym equipment in more than 65,000 gyms and 200,000 households. Over 90% of the turnover is realized outside Italy and 40% outside Europe, with strong growth currently being recorded in the US and China. In the US, Technogym is still underrepresented with a market share of less than 15%, but since several years it has started to catch up and in the past year alone the turnover improved by an impressive 20%. 3

4 In 2016, Technogym had its Stock Exchange debut in Milan. Founder and CEO Alessandri held on to his shares, representing a 51.7% stake in the company. The company has shown very healthy growth for several years now, as well as margin improvements through more efficient management of the organization and economies of scale in production. Very recently, it reported organic sales growth of 9% to EUR 598 million in 2017 and the operating margin increased significantly to 15.3%. The company generated a profit level of EUR 61 million (+ 61%), with the annual depreciation covering the capital expenditure requirements, resulting in significant free cash flows. In addition to the aforementioned factors, such as intercontinental expansion, particularly in the US, the increasing focus on 'Wellness' is a positive trend that the company is greatly benefiting from. The gym is no longer the exclusive domain of 'buddy builders', but it appeals to a much broader and growing target group. The share of the population that has a membership at a gym is increasing; notably in Asia, but also in European countries such as France, Germany and Italy, where this share is still much lower than in mature markets such as the Netherlands and the US, where growth will have to be realized through fighting for a larger market share. That is why we believe that Technogym can maintain its impressive growth in the coming years. Last quarter we took a new position in the fund: Paradox Interactive, developer and publisher of computer games. This Swedish company, founded in 1999, has become successful as a developer with strategy games with a historical perspective for use on the PC. The games are known for their depth and challenge and are very popular within a niche of the gaming audience. Well-known titles are, for example, Europa Universalis IV, where one takes command of a country in the early modern times and Hearts of Iron IV, where one does the same at the time of the Second World War. More than one million copies of both games were sold. Characteristic of the Paradox games is their large degree of replayability. The player can rewrite history in the play session and replay it from different perspectives. The games are designed in such a way that each play session is essentially different from the previous one. This is a crucial part of the business model: because the player remains active for so much longer with the game, it is attractive for Paradox to develop alternative game scenarios and game content extensions ( DLCs ) for many years to come. For example, Paradox games launched in 2012 and 2013 recorded their best sales year in From an investment perspective, Paradox's revenue profile looks more like a content library, than the blockbuster model in the game world, which brings us the predictability that we look for. The success of Paradox is also made possible by the rise of digital distribution of computer games. Previously, using the physical distribution channel, it was difficult for a small publisher like Paradox to reach its audience. The rise of digital distribution platforms such as Steam, with currently 300 million users, has resulted in nearly 2 million people playing a Paradox game every month. Also, without digital distribution it would have been impossible for Paradox to offer its large library of game 4

5 expansions so easily. Thanks to digital distribution, Paradox's business model has become much more scalable and therefore more attractive. In addition to developing and publishing titles, Paradox is also active as a publisher for third-party computer games. As a publisher, the company finances smaller studios with promising titles in the development phase and offers them support in the area of marketing. One of the great successes is, for example, the city builder game Cities Skylines. Of this game, developed by the small Finnish studio named Colossal Order, five million copies have already been sold since March 2015 and the number of players is still growing daily. Paradox also takes acquires these small studios. For example, in 2017, in The Netherlands, the Delftbased Triumph Studios was acquired. Paradox expects its activities in this area to increase in the coming years and become an important stepping stone for future growth. Many small developers of computer games have a hard time; On the one hand development costs are increasing and on the other hand reaching a new audience van be very costly. CEO (and major shareholder with 33%) Fred Wester sees so many opportunities in this area that he wants to fully concentrate on this in a new role as Executive Chairman. The newly appointed female CEO Ebba Ljungerud will take over of the daily operational affairs of Wester this August. The company has no debt and a very high free cash flow. Despite the fact that Paradox released only one (small) new title in 2017, turnover increased by 24% to Euro 80 million. Net profit came to EUR 26 million. With the several new titles already announced for 2018 and 2019, a strong foundation is laid for further profit growth in the coming years. Outlook Despite the occasional flurry in press attention to rising interest rates, we currently see very little proof of that actually happening. Risk-free interest on Government bonds remain stable around 0.5%. However, that the level of interest rates will normalize over time, is clear. Nevertheless, we believe that the current low levels can continue for a long time, despite initial signs of European labor shortages, often a good predictor of rising inflation. Over the past 10 years, we have seen that the reported earnings of companies quoted on European equity markets have only increased slightly. Aided by lower interest rates and the resultant higher price-earnings ratios, a compound annual return of 6% (Euromoney Smaller Europe) to 4% (Netherlands AEX Index) per year could be earned by investors. The annual return of 13.3% achieved over the past 10 years in the Juno Selection Fund is therefore more than twice as high than could be achieved elsewhere in Europe when investing in an index. The secret lies foremost in Juno's strict selection of highly quality, well-run family businesses, which can 5

6 grow their profits in a reasonably predictable manner year on year. In 2017, the aggregate profit of the companies you own in the Juno portfolio rose again within the target bandwidth of 10-15%. Continually low interest rates, combined with our (prudent) expectations for future earnings growth, make that we remain optimistic for both the short and longer term and we look forward to continuing to achieve strong investment results for you for the next 10 years again. On behalf of the manager of the Juno Selection Fund, Frans Jurgens Lennart Smits 6

7 Juno Selection Fund: Historical Returns Juno Selection Fund Euromoney Smaller Europe Index (net) AEX Index (reinvested) Barcap PanEuro Index 2008 * -33% -49% -47% % +63% +42% % +17% +9% % -23% -9% % +27% +13% % +33% +20% % +5% +8% % +21% +7% % +2% +13% % +17% +16% +1% +8% +4% +6% +11% +1% +12% +2% +2% -0% Q % -3% -2% +1% % -3% -2% +1% Since inception * +257% +86% +51% +56% CAGR 13.3% 6.2% 4.1% 4.5% *) Inception of the fund: January 11, 2008 Top 5 Positions Name SimCorp Grenke Brembo Sartorius Stratec Country Denmark Germany Italy Germany Germany 7

Rovio Entertainment Corporation Annual General Meeting April 9, 2019 CEO REVIEW Kati Levoranta

Rovio Entertainment Corporation Annual General Meeting April 9, 2019 CEO REVIEW Kati Levoranta Rovio Entertainment Corporation Annual General Meeting April 9, 2019 CEO REVIEW Kati Levoranta TRANSLATED FROM THE FINNISH ORIGINAL Translated from the Finnish original. Finnish version prevails. Contents

More information

THE STARS GROUP 2017 ANNUAL AND SPECIAL MEETING MANAGEMENT PRESENTATION MAY 10, 2018, TORONTO, 11:30 (ET)

THE STARS GROUP 2017 ANNUAL AND SPECIAL MEETING MANAGEMENT PRESENTATION MAY 10, 2018, TORONTO, 11:30 (ET) Please Note: THE STARS GROUP 2017 ANNUAL AND SPECIAL MEETING MANAGEMENT PRESENTATION MAY 10, 2018, TORONTO, 11:30 (ET) Some of our comments today will contain forward-looking information and statements

More information

INTERIM REPORT

INTERIM REPORT INTERIM REPORT 2017-01-01 2017-06-30 Publisher and Developer of games, primarily on PC 92 * games and strong IP portfolio 200 + employees 13 active brands Recognized games with loyal fans 5 million + registered

More information

April, 2014 GameAccount Network

April, 2014 GameAccount Network April, 2014 Disclaimer Certain statements included in this Presentation contain forward-looking information concerning GameAccount Network's strategy, operations, financial performance or condition, outlook,

More information

202, million 2.1. Our scale, our diversification and the predictability of our business give us strong foundations on which to innovate

202, million 2.1. Our scale, our diversification and the predictability of our business give us strong foundations on which to innovate In 2017 we obtained excellent results the right way: through profitable growth Ana Botín, Group executive chairman of Banco Santander Our success in 2017 shows that our way of doing business, and our focus

More information

CAPITAL MARKETS DAY. March 2019

CAPITAL MARKETS DAY. March 2019 CAPITAL MARKETS DAY March 2019 COMPANY SNAPSHOT Founded 2007 In Germany 400+ employees in Hamburg >12 years of consecutive growth > 30 language versions 7 Live games 756m hours playtime in 2018 BUSINESS

More information

Investcorp growth continues with net income rising to $125 million

Investcorp growth continues with net income rising to $125 million Investcorp growth continues with net income rising to $125 million Fundraising activities increase by 77% to $7.3 billion Robust levels of investment, divestment and fundraising activity, expanded global

More information

Ordinary and Extraordinary General Meeting. Brussels, May 24, 2012

Ordinary and Extraordinary General Meeting. Brussels, May 24, 2012 Ordinary and Extraordinary General Meeting Brussels, May 24, 2012 1 Results and accomplishments 2011 Count Georges Jacobs de Hagen Chairman of the Board of Directors of Delhaize Group 2 Tough economic

More information

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Overview of Strategies and Plans Fiscal Year ending March 31, 2019

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Overview of Strategies and Plans Fiscal Year ending March 31, 2019 Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Overview of Strategies and Plans Fiscal Year ending March 31, 2019 0 0 Forward-looking Statements Strategies, plans, outlooks and other statements

More information

Annual Shareholders' Meeting. Stuttgart May 14th 2009

Annual Shareholders' Meeting. Stuttgart May 14th 2009 Annual Shareholders' Meeting Stuttgart May 14th 2009 HUGO BOSS in 2008 in EUR mill. Net Sales 1.686 + 6% (fx-adj.) + 3% Gross Profit 1.011 + 7% EBIT before extraordinary items 226 + 9% Cash Flow from operating

More information

Half-Year Press Conference

Half-Year Press Conference Half-Year Press Conference 11 May 2017 Prof. Dr. Michael Kaschke President & CEO ZEISS Group, Half-Year Press Conference 2016/17 Thomas Spitzenpfeil Chief Financial Officer 11 May 2017 Prof. Dr. Michael

More information

Annual General Meeting 2014 Review by the President & CEO. Nina Kopola President & CEO

Annual General Meeting 2014 Review by the President & CEO. Nina Kopola President & CEO Annual General Meeting 214 Review by the President & CEO Nina Kopola President & CEO Contents Suominen management Year 213 at a glance Expanding Suominen s business to South America Market review Financial

More information

To Our Shareholders 2 SQUARE ENIX CO., LTD.

To Our Shareholders 2 SQUARE ENIX CO., LTD. To Our Shareholders I am proud to present the annual report of SQUARE ENIX for fiscal 2004, ended March 31, 2005. Fiscal 2004 was the Company s second year of business since we were formed through the

More information

Interim Report. 1 January 31 March Sales reached 3,006 MSEK (3,317) Sales were flat in local currencies. Continued volume growth for snuff

Interim Report. 1 January 31 March Sales reached 3,006 MSEK (3,317) Sales were flat in local currencies. Continued volume growth for snuff Interim Report 1 January 31 March 2003 Sales reached 3,006 MSEK (3,317) Sales were flat in local currencies Continued volume growth for snuff Operating income declined to 516 MSEK (605) or by 15 percent

More information

Confirms 2013 Financial Guidance

Confirms 2013 Financial Guidance Confirms 2013 Financial Guidance PROVIDENCE, R.I.--(BUSINESS WIRE)--Jul. 17, 2013-- Textron Inc. (NYSE: TXT) today reported second quarter 2013 income from continuing operations of $0.40 per share, compared

More information

Textron Reports Second Quarter 2014 Income from Continuing Operations of $0.51 per Share, up 27.5%; Revenues up 23.5%

Textron Reports Second Quarter 2014 Income from Continuing Operations of $0.51 per Share, up 27.5%; Revenues up 23.5% Textron Reports Second Quarter 2014 Income from Continuing Operations of $0.51 per Share, up 27.5%; Revenues up 23.5% 07/16/2014 PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) today reported

More information

Half Yearly results presentation 10 May 2011

Half Yearly results presentation 10 May 2011 Alison Cooper Chief Executive Good morning and welcome to our 2011 half year results presentation. Who s Presenting I m Alison Cooper, Chief Executive of Imperial Tobacco and I m here today with our Finance

More information

First Quarter 2013 Results May 8, 2013

First Quarter 2013 Results May 8, 2013 First Quarter 2013 Results May 8, 2013 Safe Harbor Disclosure Please review our SEC filings on Form 10-K and Form 10-Q The statements contained in this presentation that are not historical facts are forward-looking

More information

Textron Reports Third Quarter 2014 Income from Continuing Operations of $0.57 per Share, up 62.9%; Revenues up 18.1%

Textron Reports Third Quarter 2014 Income from Continuing Operations of $0.57 per Share, up 62.9%; Revenues up 18.1% Textron Reports Third Quarter Income from Continuing Operations of $0.57 per Share, up 62.9%; Revenues up 18.1% 10/17/ PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) today reported third

More information

STARBREEZE AGM Presentation 2016

STARBREEZE AGM Presentation 2016 STARBREEZE AGM Presentation 2016 The Starbreeze Ecosystem & Beyond Slide / 1 SHORTENED FISCAL YEAR (JUL-DEC) Q1 2016 AGENDA OTHER FINANCIAL TOPICS CEO REMARKS - ECOSYSTEM Slide / 2 P&L JUL-DEC YOY JUL-DEC

More information

CONTACTS: Michaela Hessling Executive Director Corporate Communications Tel

CONTACTS: Michaela Hessling Executive Director Corporate Communications Tel Aurubis continues developing its strategy Group working on a more effective organization, an increase in productivity and a sustainable improvement in earnings Resolution for dividend payment of 1.10 per

More information

STARBREEZE investor Presentation

STARBREEZE investor Presentation STARBREEZE investor Presentation GP Bullhound Nordic Tech Tour, 7 December 2017 Slide / 1 Introduction to starbreeze outline Starbreeze games and publishing Virtual reality Slide / 2 Financial overview

More information

ACTIVISION BLIZZARD ANNOUNCES BETTER-THAN-EXPECTED SECOND QUARTER 2011 FINANCIAL RESULTS

ACTIVISION BLIZZARD ANNOUNCES BETTER-THAN-EXPECTED SECOND QUARTER 2011 FINANCIAL RESULTS Contacts: Kristin Southey SVP, Investor Relations (310) 255-2635 ksouthey@activision.com Maryanne Lataif SVP, Corporate Communications (310) 255-2704 mlataif@activision.com FOR IMMEDIATE RELEASE ACTIVISION

More information

Venture capital - An introduction into the nature of venture capital

Venture capital - An introduction into the nature of venture capital 08-4-2000 Venture capital - An introduction into the nature of venture capital Boris Brosowski South Africa Table of contents: 1. INTRODUCTION... 3 2. THE NATURE OF VENTURE CAPITAL... 3 2.1. WHAT IS VENTURE

More information

LONG TERM VALUE CREATION BLAKE JORGENSEN, CFO

LONG TERM VALUE CREATION BLAKE JORGENSEN, CFO LONG TERM VALUE CREATION BLAKE JORGENSEN, CFO SAFE HARBOR STATEMENT This presentation contains forward-looking statements that are subject to change. Statements including words such as anticipate, "believe,

More information

Cherry AB. Investing in a broad gaming portfolio. CEO Anders Holmgren GP Bullhound 6 December 2017

Cherry AB. Investing in a broad gaming portfolio. CEO Anders Holmgren GP Bullhound 6 December 2017 Cherry AB Investing in a broad gaming portfolio CEO Anders Holmgren GP Bullhound 6 December 2017 The game is on Cherry is investing in a broad portfolio of online gaming companies Cherry s strategy is

More information

Second Quarter 2013 Results August 1, 2013

Second Quarter 2013 Results August 1, 2013 Second Quarter 203 Results August, 203 2 Safe Harbor Disclosure Please review our SEC filings on Form 0-K and Form 0-Q The statements contained in this presentation that are not historical facts are forward-looking

More information

G5 Entertainment. Investor Presentation

G5 Entertainment. Investor Presentation G5 Entertainment Investor Presentation G5 Entertainment in Brief Developer and publisher of casual free-to-play (F2P) games for tablets and smartphones Global company operating in the global market of

More information

Interim Report. 1 January 30 September Sales declined by 6 percent and reached 9,692 MSEK (10,317) Sales were up 2 percent in local currencies

Interim Report. 1 January 30 September Sales declined by 6 percent and reached 9,692 MSEK (10,317) Sales were up 2 percent in local currencies Interim Report 1 January 30 September 2003 Sales declined by 6 percent and reached 9,692 MSEK (10,317) Sales were up 2 percent in local currencies Operating income declined to 1,693 MSEK (1,797) or by

More information

Road to Smart City. From lamppost to multi-purpose smart public hub. Bouwfonds Investment Management Oktober 2017

Road to Smart City. From lamppost to multi-purpose smart public hub. Bouwfonds Investment Management Oktober 2017 Road to Smart City From lamppost to multi-purpose smart public hub Bouwfonds Investment Management Oktober 2017 Agenda Vision: from lamppost to smart public hub The investment opportunity Summary and conclusions

More information

The partner of choice for self-care products

The partner of choice for self-care products The partner of choice for self-care products Venture Life Group plc Full Year Results Presentation 2017 22 March 2018 2017 highlights Revenues up 12% to 16.1m (2016: 14.3m) Gross profit increased 18% to

More information

Textron Reports First Quarter 2016 Income from Continuing Operations of $0.55 per Share, up 19.6%; Reaffirms 2016 Financial Outlook

Textron Reports First Quarter 2016 Income from Continuing Operations of $0.55 per Share, up 19.6%; Reaffirms 2016 Financial Outlook Textron Reports First Quarter 2016 Income Continuing Operations of $0.55 per Share, up 19.6%; Reaffirms 2016 Financial Outlook April 20, 2016 06:30 AM Eastern Daylight Time PROVIDENCE, R.I.--(BUSINESS

More information

G5 Entertainment. Investor Presentation

G5 Entertainment. Investor Presentation G5 Entertainment Investor Presentation G5 Entertainment in Brief Developer and publisher of casual free-to-play (F2P) games for tablets and smartphones Global company operating in the global market of

More information

Bringing More to the Table

Bringing More to the Table Bringing More to the Table TM During this presentation and the Q&A session, we may be making forward-looking statements that reflect certain risks and uncertainties associated with Shuffle Master s business.

More information

Interim Report January March

Interim Report January March Report on 1996 Operations 97 Interim Report January March Continued stable earnings during first quarter of 1997. Higher operating income despite modest decline in sales. Decline in cigarette sales in

More information

Q July 26, 2007

Q July 26, 2007 Q2 2007 July 26, 2007 Agenda 1. Company highlights 2. Project Status 3. Financials 2 Key financial summary, Q2 2007 TUSD Revenue EBIT EAT Q2,2007 Q2,2006 1,593 4,611-1,460-1,221 776 722 Revenue Q2, 2007

More information

Strategic analysis by fredi fernandez This report is a basic study on Activision Blizzard s strategy, with focus on Blizzard Entertainment.

Strategic analysis by fredi fernandez This report is a basic study on Activision Blizzard s strategy, with focus on Blizzard Entertainment. Strategic analysis by fredi fernandez This report is a basic study on Activision Blizzard s strategy, with focus on Blizzard Entertainment. By fredi fernandez fredi@alphaorigins.com 1 Blizzard s mission

More information

2016 GLOBAL GAMES MARKET REPORT

2016 GLOBAL GAMES MARKET REPORT FREE 2016 GLOBAL GAMES MARKET REPORT AN OVERVIEW OF TRENDS & INSIGHTS JUNE 2016 TABLE OF CONTENTS 1. Introduction 3 2. Key Global Trends 5 3. The Global Games Market Per 9 Region, Segment & Screen 4. Regional

More information

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Financial Highlights for the Fiscal Year ended March 31, 2016

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Financial Highlights for the Fiscal Year ended March 31, 2016 Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) Financial Highlights for the Fiscal Year ended March 31, 2016 0 0 Forward-looking Statements Strategies, plans, outlooks and other statements

More information

Q Interim Report

Q Interim Report Interim Report Aug 15, Today s presenter: Lars Wingefors Co-Founder & Group CEO 1 highlights Net sales SEK 837m EBITDA SEK 207m EBIT SEK 53m YoY growth 878% YoY growth 421% YoY growth 73% 10 releases in

More information

WRITTEN SUBMISSION OF GE CAPITAL TO THE FINANCIAL CRISIS INQUIRY COMMISSION

WRITTEN SUBMISSION OF GE CAPITAL TO THE FINANCIAL CRISIS INQUIRY COMMISSION WRITTEN SUBMISSION OF GE CAPITAL TO THE FINANCIAL CRISIS INQUIRY COMMISSION MICHAEL A. NEAL CHAIRMAN AND CEO OF GE CAPITAL AND VICE CHAIRMAN OF GE May 6, 2010 Chairman Angelides, Vice-Chairman Thomas,

More information

FY2018 Q4 Earnings Presentation (Feb 12, 2019) Q&A Summary

FY2018 Q4 Earnings Presentation (Feb 12, 2019) Q&A Summary FY2018 Q4 Earnings Presentation (Feb 12, 2019) Q&A Summary Q Can you share any achievement or challenges you found during the closed beta test for Dungeon&Fighter 2D mobile? Also, please provide the rough

More information

Erratum to the Press Release 2017 annual results - NRJ Group. dated March 15, 2018

Erratum to the Press Release 2017 annual results - NRJ Group. dated March 15, 2018 Paris, March 20, 2018 5:45 pm Erratum to the Press Release 2017 annual results - NRJ Group dated March 15, 2018 An editorial error was made in the press release dated March 15, 2018 (English version only)

More information

1Q 2016 Results. Mermaid Maritime Plc. May 23, 2016

1Q 2016 Results. Mermaid Maritime Plc. May 23, 2016 Mermaid Maritime Plc 1Q 2016 Results May 23, 2016 Disclaimer: The information contained in this document is intended only for use during the presentation and should not be disseminated or distributed to

More information

Third Quarter CY 2012 Results

Third Quarter CY 2012 Results Third Quarter CY 2012 Results November 7, 2012 2012 Activision Blizzard 1 Safe Harbor Disclosure Please review our SEC filings on Form 10-K and Form 10-Q The statements contained in this presentation that

More information

ASX: UCW FULL YEAR RESULTS FOR THE YEAR ENDED 30 JUNE 2017

ASX: UCW FULL YEAR RESULTS FOR THE YEAR ENDED 30 JUNE 2017 ASX: UCW FULL YEAR RESULTS FOR THE YEAR ENDED 30 JUNE 2017 ABOUT UCW 1. Fee-for-service education provider with international student market focus 2. Vision to be a multi-sector provider - Vocational,

More information

Message from the CEO. 4 OMRON Corporation

Message from the CEO. 4 OMRON Corporation Message from the CEO 4 OMRON Corporation Achieving growth through a stronger earnings structure. Solving social issues through new technologies and innovative concepts. Yoshihito Yamada President and CEO

More information

UNITED INTERNET. Business Applications Strategic Partnership with Warburg Pincus. November 8, Investor Presentation November 8, 2016

UNITED INTERNET. Business Applications Strategic Partnership with Warburg Pincus. November 8, Investor Presentation November 8, 2016 UNITED INTERNET Business Applications Strategic Partnership with Warburg Pincus November 8, 2016 1 Investor Presentation November 8, 2016 1&1 INTERNET SE WITHIN UNITED INTERNET GROUP WP XII Venture Holdings

More information

Third Quarter CY 2010 Results. November 04, 2010

Third Quarter CY 2010 Results. November 04, 2010 Third Quarter CY 2010 Results November 04, 2010 Safe Harbor Disclosure The statements contained in this presentation that are not historical facts are forward-looking statements. The company generally

More information

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2016

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2016 Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2016 0 Forward-looking Statements Strategies, plans, outlooks and other statements that are not historical

More information

4Q February 2012

4Q February 2012 4Q 2011 28 February 2012 2 Disclaimer forward looking statements This presentation contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical

More information

UBISOFT REPORTS FIRST-QUARTER SALES

UBISOFT REPORTS FIRST-QUARTER SALES UBISOFT REPORTS FIRST-QUARTER 2018-19 SALES A solid performance, led by sharp back-catalog growth and continued strong momentum for digital Sales : 400.0 M Net bookings up 88.8% to 381.5 million, outstripping

More information

STARBREEZE investor Presentation

STARBREEZE investor Presentation STARBREEZE investor Presentation Carnegie Nordic Gaming Seminar, 31 May 2018 Slide / 1 Starbreeze today Office locations San Francisco Los Angeles Brussels Stockholm (HQ) 620 employees First listed gaming

More information

Mid/Long-Term Management Policy

Mid/Long-Term Management Policy Mid/Long-Term Management Policy Grand Design & Mid-Term Plan FY2018~FY2020 Yoshiaki Yoshida Representative Director & CEO Advantest Corporation April 26 th, 2018 Objectives of Grand Design and Mid-Term

More information

KKR & Co. Inc. Goldman Sachs U.S. Financial Services Conference December 4, 2018

KKR & Co. Inc. Goldman Sachs U.S. Financial Services Conference December 4, 2018 KKR & Co. Inc. Goldman Sachs U.S. Financial Services Conference December 4, 2018 KKR Today Private Markets Public Markets Capital Markets Principal Activities $104bn AUM $91bn AUM Global Franchise $19bn

More information

First Quarter CY 2012 Results. May 9, 2012

First Quarter CY 2012 Results. May 9, 2012 First Quarter CY 2012 Results May 9, 2012 2012 Activision Blizzard 1 Safe Harbor Disclosure Please review our SEC filings on Form 10-K and Form 10-Q The statements contained in this presentation that are

More information

3 rd Annual Global Automotive Conference Goldman Sachs. London, December 8, 2011

3 rd Annual Global Automotive Conference Goldman Sachs. London, December 8, 2011 3 rd Annual Global Automotive Conference Goldman Sachs London, December 8, 2011 1 3rd Annual Global Automotive Conference Goldman Sachs London, December 8, 2011 Outline Net sales: Sustained firm growth

More information

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2014

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2014 Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2014 0 Forward-looking Statements Strategies, plans, outlooks and

More information

ALANCO TECHNOLOGIES INC

ALANCO TECHNOLOGIES INC SECURITIES & EXCHANGE COMMISSION EDGAR FILING ALANCO TECHNOLOGIES INC Form: 8-K Date Filed: 2016-10-04 Corporate Issuer CIK: 98618 Copyright 2016, Issuer Direct Corporation. All Right Reserved. Distribution

More information

PRIVATE EQUITY INVESTMENT IN INDIA WITH SPECIAL REFERENCE TO EDUCATION SECTOR

PRIVATE EQUITY INVESTMENT IN INDIA WITH SPECIAL REFERENCE TO EDUCATION SECTOR GJBM Private Equity Investment in India with Special Reference to Education Sector ISSN: 0973-8533 Vol. 4 No. 1, June 2010 91 PRIVATE EQUITY INVESTMENT IN INDIA WITH SPECIAL REFERENCE TO EDUCATION SECTOR

More information

Disney acquires 21st Century Fox veed snapshot February 2018

Disney acquires 21st Century Fox veed snapshot February 2018 Teaser Version Full Report Requires Free Subscription Disney acquires 21st Century Fox veed snapshot February 2018 Impact of the Disney & Fox deal is mainly discussed for the US. But what does it mean

More information

January September Summary

January September Summary January September 2011 - Summary Consolidated revenue for the period is 31 207 KSEK (12 065 KSEK in Q3, 9 594 KSEK in Q2, 9 548 KSEK in Q1), up 112% compared to 14 707 KSEK for the same period of 2010.

More information

Financing Emerging Growth Companies

Financing Emerging Growth Companies Financing Emerging Growth Companies July (8,15,22) 2005 Ravi Sinha/Wilson Zehr Portland State University School of Business July 8, 2005 1:00 1:50 Class overview, review syllabus, grading, case studies

More information

Hasbro First Quarter 2016 Financial Results Conference Call Management Remarks April 18, 2016

Hasbro First Quarter 2016 Financial Results Conference Call Management Remarks April 18, 2016 Hasbro First Quarter 2016 Financial Results Conference Call Management Remarks April 18, 2016 Debbie Hancock, Hasbro, Vice President, Investor Relations: Thank you and good morning everyone. Joining me

More information

Third Quarter 2017 Results. November 2, 2017

Third Quarter 2017 Results. November 2, 2017 Third Quarter 207 Results November 2, 207 Safe Harbor Disclosure Please review our SEC filings on Form 0-K and Form 0-Q The statements contained herein that are not historical facts are forward-looking

More information

Revisions to Annual Results Forecasts

Revisions to Annual Results Forecasts October 23, 2001 SEGA CORPORATION Hideki Sato, Representative Director of President TSE Code: 7964 Inquire: Shoichi Yamazaki, Officer Corporate Planning Division Revisions to Annual Results Forecasts SEGA

More information

FY2005 Results Briefing Session. May 24, 2006

FY2005 Results Briefing Session. May 24, 2006 FY2005 Results Briefing Session May 24, 2006 1 Statements made in this document with respect to SQUARE ENIX CO., LTD. and consolidated subsidiaries' (together, "SQUARE ENIX") plans, estimates, strategies

More information

Second Quarter CY 2012 Results. August 2, 2012

Second Quarter CY 2012 Results. August 2, 2012 Second Quarter CY 2012 Results August 2, 2012 1 Safe Harbor Disclosure Please review our SEC filings on Form 10-K and Form 10-Q The statements contained in this presentation that are not historical facts

More information

Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) 1st Quarter Report Fiscal year ending March 31, 2013

Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) 1st Quarter Report Fiscal year ending March 31, 2013 Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) 1st Quarter Report Fiscal year ending March 31, 2013 0 Forward-looking Statements Information in these materials concerning strategies,

More information

Disney acquires 21st Century Fox. veed snapshot February 2018

Disney acquires 21st Century Fox. veed snapshot February 2018 Disney acquires 21st Century Fox veed snapshot February 2018 Impact of the Disney & Fox deal is mainly discussed for the US. But what does it mean for Europe resp. Germany? The deal Impact in Europe Video

More information

Alfa Laval Slide 1

Alfa Laval Slide 1 Alfa Laval Slide 1 www.alfalaval.com Interim Report Q2 2008 - Orders received and margins - Highlights - Development per segment - Geographical development - Financials - Outlook Mr. Lars Renström President

More information

Capcom Co., Ltd. Tokyo and Osaka Exchanges, First Section, rd Quarter Report Fiscal year ending March 31, 2010

Capcom Co., Ltd. Tokyo and Osaka Exchanges, First Section, rd Quarter Report Fiscal year ending March 31, 2010 Capcom Co., Ltd. Tokyo and Osaka Exchanges, First Section, 9697 3rd Quarter Report Fiscal year ending March 31, 2010 Precautions Concerning Forward-looking Statements Strategies, plans, outlooks and other

More information

May 1, Dear Fellow Shareholders:

May 1, Dear Fellow Shareholders: May 1, 2016 Dear Fellow Shareholders: When we started KKR 40 years ago with $120,000, our vision was to create a firm with a culture that rewarded collaboration and teamwork, a genuine partnership. Anniversaries

More information

Special Feature: Acquisition of Gallaher Group PLC

Special Feature: Acquisition of Gallaher Group PLC Special Feature: Acquisition of Gallaher Group PLC 10 Acquisition of Gallaher Group PLC >> 12 Special Feature: Acquisition of Gallaher Group PLC JT Annual Report 2007 11 Acquisition of Gallaher Group PLC

More information

Next Games Corporation BUSINESS REVIEW. January March 2017

Next Games Corporation BUSINESS REVIEW. January March 2017 Q1 Next Games Corporation BUSINESS REVIEW January March 2017 NEXT GAMES CORPORATION BUSINESS REVIEW JANUARY MARCH 2017 Next Games Corporation Business Review Q1 2017 - Successful Listing on Nasdaq Helsinki

More information

G5 ENTERTAINMENT AB. Investor Presentation

G5 ENTERTAINMENT AB. Investor Presentation G5 ENTERTAINMENT AB Investor Presentation G5 Entertainment in Brief Developer and publisher of casual free-to-play (F2P) games for tablets and smartphones Global company operating in the global market

More information

Sejaya Micro Credit. Company Profile. October 2016

Sejaya Micro Credit. Company Profile. October 2016 Sejaya Micro Credit Company Profile October 2016 Company Profile We founded Sejaya to provide the genuine microfinance service in Sri Lanka. Basic Information Corporate Status: Public Limited Liability

More information

4 November The Manager Company Announcements Australia Securities Exchange Limited Level 4, Bridge Street SYDNEY NSW 2000

4 November The Manager Company Announcements Australia Securities Exchange Limited Level 4, Bridge Street SYDNEY NSW 2000 nib holdings limited Head Office 22 Honeysuckle Drive Newcastle NSW 2300 abn 51 125 633 856 t 13 14 63 f 02 4925 1999 e nib@nib.com.au w nib.com.au 4 November 2015 The Manager Company Announcements Australia

More information

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2018

Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2018 Capcom Co., Ltd. (Tokyo Stock Exchange, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2018 0 Forward-looking Statements Strategies, plans, outlooks and other statements that are

More information

Nishant l33t Verma 33 Rachel pwn Nabatian Weiye noob Zhang

Nishant l33t Verma 33 Rachel pwn Nabatian Weiye noob Zhang Nishant l33t Verma 33 Rachel pwn Nabatian Weiye noob Zhang Company Overview Thesis Blizzard Synergies Solid Pipeline e 09 10 0 Competitive Advantage Risks DCF World s largest third party game publisher

More information

Activision Blizzard Announces Record First Quarter Financial Results

Activision Blizzard Announces Record First Quarter Financial Results Activision Blizzard Announces Record First Quarter Financial Results - Q1 and EPS Ahead of Prior Year and Prior - - Q1 GAAP EPS Increased 40% and Non-GAAP EPS Up 44% Over Prior Year - - Q1 from Digital

More information

The Robotics Market Has Arrived! What Challenges and Opportunities Exist? Perspectives from Asia, the US and Europe

The Robotics Market Has Arrived! What Challenges and Opportunities Exist? Perspectives from Asia, the US and Europe The Robotics Market Has Arrived! What Challenges and Opportunities Exist? Perspectives from Asia, the US and Europe Moderator Asian Perspective International Perspective US Perspective Eugene Demaitre

More information

Textron Reports Third Quarter 2018 Results; Narrows Full-Year EPS and Cash Guidance

Textron Reports Third Quarter 2018 Results; Narrows Full-Year EPS and Cash Guidance Corporate Communications Department NEWS Release Textron Reports Third Quarter 2018 Results; Narrows Full-Year EPS and Cash Guidance $468 million returned to shareholders through share repurchases Completed

More information

2Q FY2018/3 Financial Results Briefing by SQUARE ENIX HOLDINGS held on Nov. 8, 2017

2Q FY2018/3 Financial Results Briefing by SQUARE ENIX HOLDINGS held on Nov. 8, 2017 We would now like to begin the Financial Results Briefing Session of SQUARE ENIX HOLDINGS (the Company ) for the first half of the fiscal year ending March 31, 2018 ( 1H FY2018/3 ). Today s presenters

More information

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2014

Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2014 Capcom Co., Ltd. (Tokyo Exchanges, First Section, 9697) 3rd Quarter Report Fiscal year ending March 31, 2014 0 Forward-looking Statements Strategies, plans, outlooks and other statements that are not historical

More information

January June Summary

January June Summary January June 2012 - Summary Consolidated revenue for the period is 36 082 KSEK, up 89% compared to 19 142 KSEK for the same period of 2011. This is in line with the previously communicated forecast of

More information

Speech by Lars Renström, President and CEO AGM Ladies and gentlemen, shareholders and co-workers,

Speech by Lars Renström, President and CEO AGM Ladies and gentlemen, shareholders and co-workers, AGM 2015 Ladies and gentlemen, shareholders and co-workers, A good year for oil, gas and marine 2014 began with an optimistic view of the global economy, although this optimism successively waned as the

More information

NEW YORK UNIVERSITY Stern School of Business

NEW YORK UNIVERSITY Stern School of Business NEW YORK UNIVERSITY Stern School of Business Spring Term 2005 Investment Banking and Private Equity in Entertainment and Media Instructors: Stephen Finkel, Credit Suisse First Boston Philip Grovit, Goldman

More information

Provided by. RESEARCH ON INTERNATIONAL MARKETS We deliver the facts you make the decisions

Provided by. RESEARCH ON INTERNATIONAL MARKETS We deliver the facts you make the decisions Provided by RESEARCH ON INTERNATIONAL MARKETS March 2014 PREFACE Market reports by ystats.com inform top managers about recent market trends and assist with strategic company decisions. A list of advantages

More information

World Coins and Blanks

World Coins and Blanks World Coins and Blanks A Global Review of the Industry and its Manufacturers January 2013 Prepared by Impacts.Ca Marketing Research Inc. Table of Contents Contents List of Tables...5 1. Abstract...6 2.

More information

Financial Results Briefing Session

Financial Results Briefing Session Financial Results Briefing Session Six-Month Period Ended September 30, 2017 November 8, 2017 SQUARE ENIX HOLDINGS CO., LTD. Statements made in this document with respect to SQUARE ENIX HOLDINGS CO., LTD.

More information

EVCA Strategic Priorities

EVCA Strategic Priorities EVCA Strategic Priorities EVCA Strategic Priorities The following document identifies the strategic priorities for the European Private Equity and Venture Capital Association (EVCA) over the next three

More information

What type of Entrepreneurs (Entrepreneurship) do we need for Economic Development?

What type of Entrepreneurs (Entrepreneurship) do we need for Economic Development? Entrepreneurs and their role in Economic Development Entrepreneurs, firms and business membership organizations: their role in politics and development Leipzig, Germany, 29th 31th October 2014 Prof. Dr.

More information

Press release August 27 th 2015 Starbreeze AB (publ) Interim Report July 1 st 2014 June 31 st 2015

Press release August 27 th 2015 Starbreeze AB (publ) Interim Report July 1 st 2014 June 31 st 2015 Press release August 27 th 2015 Starbreeze AB (publ) Interim Report July 1 st 2014 June 31 st 2015 FOURTH QUARTER (APRIL JUNE 2015) Total revenue amounted to SEK 92,5 million (SEK 51,6 million), an increase

More information

02 SQUARE ENIX To Our Shareholders. A Fundamental Industry Change from Evolution in Network Technology. Yoichi Wada

02 SQUARE ENIX To Our Shareholders. A Fundamental Industry Change from Evolution in Network Technology. Yoichi Wada 02 SQUARE ENIX 2004 To Our Shareholders President and Representative Director Yoichi Wada Square Enix Co., Ltd. is proud to present its first annual report for fiscal 2003, ended March 31, 2004, following

More information

January September Summary

January September Summary January September 2012 - Summary Consolidated revenue for the period is 60 239 KSEK, up 93% compared to 31 207 KSEK for the same period of 2011. This is in line with the previously communicated forecast

More information

Annual Press Conference Bilfinger Berger SE, Mannheim March 21, 2012 Roland Koch, Chairman of the Executive Board

Annual Press Conference Bilfinger Berger SE, Mannheim March 21, 2012 Roland Koch, Chairman of the Executive Board Annual Press Conference 2012 Bilfinger Berger SE, Mannheim March 21, 2012 Roland Koch, Chairman of the Executive Board Annual Press Conference March 21, 2012 page 1 Financial year 2011 Order and earnings

More information

FOCUS HOME INTERACTIVE

FOCUS HOME INTERACTIVE Press release Paris, July 5, 2018 FOCUS HOME INTERACTIVE Annual earnings for 2017/2018 (FY lasting 15 months) Excellent results despite delays with two major games Nomination of a new member to Management

More information

T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T AND PRIVATE EQUITY ENERGIZE GROWTH

T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T T AND PRIVATE EQUITY ENERGIZE GROWTH 12 INVESMEN FUNDS VENURE CAPIAL AND PRIVAE EQUIY ENERGIZE GROWH Kalinka Iaquinto, Rio de Janeiro It all began in 2003, when Gustavo Caetano, a student of marketing, realized that the market for mobile

More information

Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2013

Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2013 Capcom Co., Ltd. (Tokyo and Osaka Exchanges, First Section, 9697) Results of Operations and Strategies First half of fiscal year ending March 31, 2013 0 Forward-looking Statements Strategies, plans, outlooks

More information