Day: January 24, 2022

PLEASANTON, Calif., Jan. 24, 2022 (GLOBE NEWSWIRE) — Degreed, the workforce upskilling platform chosen by one in three Fortune 50 companies, today announced the appointment of Nag Chandrashekar, as Chief Product Officer. Chandrashekar joins Degreed at a crucial time for the company, following a period of significant growth of the Degreed Learning Experience Platform, including an internal opportunity marketplace and Degreed Intelligence, a new skills and analytics suite that gives insights into workforce skills supply and demand.

Innovative Platform, Eliant Inventory Solutions LP, to Address Critical Market Need for Working Capital Optimization and Supply Chain Resiliency

Eliant Launches with $1.3 Billion in Signed or Awarded Inventory Programs

NEW YORK, Jan. 24, 2022 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and its subsidiary Athene today announce they have entered into a strategic relationship with BNP Paribas, a premier global bank, to provide a dynamic new solutions platform for working capital and supply chain needs with the establishment of Eliant Inventory Solutions LP (“Eliant”).

Eliant provides domestic and multinational companies with strategic and responsive inventory capital solutions to better optimize their supply chains and balance sheets, and buffer inventories. For companies, this can mean greater resiliency, fewer supply chain disruptions and more efficient working capital management. Eliant is structured to own inventory at an efficient cost of capital, with a technology platform to seamlessly manage high-volume and complex customer needs. Eliant launches with strong customer demand, marked by $1.3 billion in signed or awarded inventory programs with blue-chip customers.

BNP Paribas, a leader in supply chain and trade finance solutions with long-standing expertise in the space, will provide debt and receivables financing as well as structuring advisory and referral services to Eliant. Athene will serve as the primary capital provider to Eliant, while Apollo will act as the investment manager, supporting an in-house team at Eliant that is delivering customized supply chain inventory solutions to customers across industries and geographies.

Apollo Partner Ephraim Rudman said, “Together with Athene, we have established Eliant to serve the growing market for flexible inventory and trade finance solutions, while helping our clients access high-quality, recurring asset origination. More and more companies are looking for economically efficient ways to strengthen their supply chains and bolster resiliency, while traditional financing sources have largely stopped originating these assets – creating a significant opportunity for us to engage as a solutions provider. We are excited to launch inventory solutions through our strategic relationship with BNP Paribas, which has a tremendous track record in trade finance, and together support Eliant’s growing team and capital needs.”

BNP Paribas Head of Trade & Treasury Solutions Americas Suresh Subramanian said, “The bank has established expertise in understanding the complete spectrum of supply chain financing solutions, including inventory. Supply chain resiliency and working capital efficiency are key concerns of corporates, and through this strategic relationship with Apollo, we reinforce our commitment to innovative solutions that enable clients to quickly adapt to the challenges of the real economy.”

Eliant will focus on critical and strategic inventory for high-quality, global customers, employing diligent underwriting that aligns with the investment philosophies of Apollo and Athene and adds to their portfolio of origination platforms spanning commercial and consumer lending.

About Eliant
Eliant delivers supply chain resiliency and flexibility through creative working capital solutions. We work with multinational and domestic companies to bring additional certainty to their supply chains and inventories through cost effective financial solutions. Eliant is funded by subsidiaries and cedents of Athene Holding Ltd., and is overseen by affiliates of Apollo Global Management, Inc. (NYSE: APO). To learn more, please visit www.elianttrade.com.

About Apollo
Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2021, Apollo had approximately $481 billion of assets under management. To learn more, please visit www.apollo.com.

About Athene
Athene, a subsidiary of Apollo, is a leading retirement services company with total assets of $224.4 billion as of September 30, 2021 and operations in the United States, Bermuda, and Canada. Athene specializes in helping its customers achieve financial security and is a solutions provider to institutions. Founded in 2009, Athene is Driven to Do More for our policyholders, business partners, and the communities in which we work and live. For more information, please visit www.athene.com.

About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

Forward-Looking Statements

This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the “Merger”) with Athene. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” “could,” “should,” “might,” “plan,” “seek,” “continue” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollo’s dependence on certain key personnel, Apollo’s ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollo’s ability to manage its growth, fund performance, the variability of Apollo’s revenues, net income and cash flow, Apollo’s use of leverage to finance its businesses and investments by Apollo funds, Athene’s ability to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in Apollo’s regulatory environment and tax status, litigation risks and Apollo’s ability to recognize the benefits expected to be derived from the Merger. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset Management Inc.’s (“AAM,” formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed with the SEC on February 19, 2021, amendment to its Annual Report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollo’s, AAM’s or Athene’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts

For Apollo and Athene:

Investors:
Noah Gunn
Global Head of Investor Relations, Apollo
(212) 822-0540
IR@apollo.com

Media:
Joanna Rose
Global Head of Corporate Communications, Apollo
(212) 822-0491
Communications@apollo.com

Amanda Carstens Steward
Head of Marketing & Corporate Communications, Athene
(515) 342 6473
Asteward@athene.com

For BNP Paribas:

Media:
Guild Taylor
(332) 323-3704
Guild.Taylor@us.bnpparibas.com

Robert Madden
(917) 287-8501
Robert.Madden@us.bnpparibas.com

This highly anticipated 250UPL MP ultra-precision machining platform release from Moore Nanotechnology Systems addresses the growing need for flawless machining of lens-mold tooling for the booming demand in AR/VR/MR, smart-phone cameras, and electric vehicle markets. This solution delivers previously unimaginable sub-nanometer surface finish results with near-perfect form.

SWANZEY, N.H., Jan. 24, 2022 (GLOBE NEWSWIRE) — Moore Nanotechnology Systems (“Nanotech”), a leading global supplier of ultra-precision machining systems, announced today the release of their next generation ultra-precision machining platform, the 250UPL MP. This solution is configurable for all sub-nanometer, ultra-precision Single Point Diamond Turning (SPDT), grinding and milling applications.

Optical mold-tool makers demand higher-quality surface finishes to support the fidelity of optical systems now common in smart phone, AR/VR/MR and automotive applications. The current generation of ultra-precision machines in use today have reached their maximum potential. A clean-sheet design was required to break through to the next level of performance, and Nanotech’s 250UPL MP meets and exceeds these requirements.

Mark Boomgarden, Nanotech’s President and CEO, explained, “We work with the leading camera-module and optical-component suppliers around the world to gain mid and long-term insight to their product and technology requirements, which is then used as input to our own multi-year development roadmap.” Boomgarden continued, “It became clear that the industry needs a machine-tool platform that can extend the boundaries of ultra-precision machining capabilities, and they need it now. Building upon years of success in this segment, our technical staff stepped up to the challenge and delivered Nanotech’s 250UPL MP. This is one of many new product innovations you will see from Nanotech over the next 12-18 months.”

Paul Vermette, Nanotech’s Vice President of Engineering and new product development, added, “Success in this market comes down to delivering a solution grounded in sound process knowledge. Our investment in a process development center, very near the University of North Carolina at Charlotte’s campus, has been an invaluable component in our product and technology development.” Vermette continued, “When we come to market with a new machine like the 250UPL MP, we know that we’re delivering more than a machine, we’re delivering a solution that solves real-world, complex challenges the optical tool-making industry faces daily.”

Scott Gerhart, Nanotech’s Vice President of Sales, commented further, “Over the last 6-months, we’ve been shipping the 250UPL MP to select market-leading companies around the world, and the feedback has been overwhelmingly positive. Simply stated, no other machine available today can achieve the surface finish and form accuracy demanded by the optical designs these companies are launching over the next 36 months.” Gerhart continued, “We’re excited to share the future of ultra-precision machining with all companies when we formally launch the 250UPL MP platform at Photonics West – January 25, 2022.”

For more information, contact sales@nanotechsys.com.

Moore Nanotechnology Systems (Nanotech) was founded in Keene, NH in 1997 as a stand-alone subsidiary of the Moore Tool Company. Nanotech is a world leader in the design, development and manufacture of state-of-the-art ultra-precision machine tools and associated processes (single point diamond turning, micro-milling, micro-grinding and glass press molding) for the production of advanced optical components in consumer electronics, space, defense, aerospace, lighting, medical and automotive sectors. Moore Tool, founded in 1924 and located in Bridgeport, Connecticut, has a long history in the precision and ultra-precision machine tool markets. Today, Moore Tool provides a complete line of high-performance CNC jig grinders, along with contract precision-manufacturing services certified to both ISO 9001:2015 and AS9100D. Moore Nanotechnology and Moore Tool are vertically integrated under the PMT Group.

Moore Nanotechnology Systems: www.nanotechsys.com
Moore Tool, Inc: www.mooretool.com

Basalt Infrastructure adds highly differentiated investment products to IM platform

TORONTO and LONDON and NEW YORK, Jan. 24, 2022 (GLOBE NEWSWIRE) — Leading diversified professional services and investment management company, Colliers (NASDAQ and TSX: CIGI), announced today it has entered into an agreement to make a strategic investment in Basalt Infrastructure Partners LLP (“Basalt”), a leading transatlantic infrastructure investment management firm with more than $8.5 billion of assets under management. The transaction is subject to customary closing conditions and approvals and is expected to close in the second half of 2022. Financial terms were not disclosed.

With offices in London and New York, Basalt specializes in mid-market, infrastructure equity investments across the utility, transportation, energy/renewables, and communications sectors in Europe and North America. Since its inception in 2011, Basalt has consistently delivered superior returns to investors across its flagship series of closed-end funds and counts among its investors some of the world’s largest public and corporate pension plans, sovereign wealth funds, endowments, insurance firms, and family offices.

As part of the transaction, Colliers will acquire 75% of Basalt from its founders and a significant third-party financial investor. The senior leadership team will retain 25% of the equity and will continue to lead the organization under Colliers’ unique partnership model. Basalt will also admit four additional members of its senior leadership team to the partnership. Once the transaction is completed, Colliers expects the annual run rate of management fee revenue to be between $65 and $70 million, Adjusted EBITDA of $35 to $40 million, and operating results to be significantly accretive.

“Partnering with Basalt’s impressive leadership team builds upon our success with Harrison Street and complements the rest of our investment management platform,” said Zach Michaud, Co-Chief Investment Officer of Colliers. “Infrastructure, an asset class which we know well, has high barriers to entry, low volatility, and strong tailwinds. It is also a segment that will see increased investor allocations, especially for high-quality investment platforms like Basalt and Harrison Street. The opportunity to leverage everything we have to offer while providing our investors with greater choice when it comes to differentiated investment products is very compelling.”

“This is another example of an experienced and entrepreneurial investment team choosing to partner with Colliers,” said Jay Hennick, Chairman and Chief Executive Officer of Colliers. “Basalt’s culture aligns perfectly with our own and we are delighted to welcome this world-class team to our organization.”

“Our partnership with Colliers strengthens Basalt for the long term and enhances our ability to continue delivering superior investment returns for our investors. Colliers is a permanent capital strategic partner that gives our partners, professionals, and investors stability and increased alignment over the long term,” said Rob Gregor, Basalt Co-Founder and Managing Partner. “The relationship will also strengthen our global capabilities, offer unique market knowledge and relationships, and create important synergies to accelerate our growth. Colliers’ entrepreneurial culture, decentralized management style, significant inside ownership, and exemplary investment record over more than two decades were also important factors. On behalf of our entire team, we look forward to leveraging these advantages as we continue to build Basalt in the years to come.”

In connection with this transaction, Berkshire Global Advisors acted as financial advisor to Basalt.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners, and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

About Basalt

Basalt is the exclusive investment advisor to the Basalt funds, comprising Basalt I, Basalt II, and Basalt III. The Basalt funds are infrastructure equity investment funds focusing on mid-market investments in utilities, power, transport, and communications infrastructure in North America and Europe.

For more information, please visit www.basaltinfra.com.

Forward-looking Statements

This press release includes forward-looking statements. Forward-looking statements include the Company’s financial performance outlook and statements regarding goals, beliefs, strategies, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results, performance or achievements contemplated in the forward-looking statements. Such factors include: economic conditions, especially as they relate to commercial and consumer credit conditions and consumer spending, particularly in regions where our business may be concentrated; commercial real estate property values, vacancy rates and general conditions of financial liquidity for real estate transactions; trends in pricing and risk assumption for commercial real estate services; the effect of significant movements in average capitalization rates across different property types; a reduction by companies in their reliance on outsourcing for their commercial real estate needs, which would affect revenues and operating performance; competition in the markets served by the Company; the ability to attract new clients and to retain major clients and renew related contracts; the ability to retain and incentivize producers; increases in wage and benefit costs; the effects of changes in interest rates on the cost of borrowing; unexpected increases in operating costs, such as insurance, workers’ compensation and health care; changes in the frequency or severity of insurance incidents relative to historical experience; the effects of changes in foreign exchange rates in relation to the US dollar on the Company’s Canadian dollar, Euro, Australian dollar and UK pound sterling denominated revenues and expenses; the impact of pandemics on client demand for the Company’s services, the ability of the Company to deliver its services and the health and productivity of its employees; the impact of global climate change; the impact of political events including elections, referenda, trade policy changes, immigration policy changes, hostilities and terrorism on the Company’s operations; the ability to identify and make acquisitions at reasonable prices and successfully integrate acquired operations; the ability to execute on, and adapt to, information technology strategies and trends; the ability to comply with laws and regulations related to our global operations, including real estate and mortgage banking licensure, labour and employment laws and regulations, as well as the anti-corruption laws and trade sanctions; and changes in government laws and policies at the federal, state/provincial or local level that may adversely impact the business.

Additional information and risk factors are identified in the Company’s other periodic filings with Canadian and US securities regulators (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Non-GAAP Measures

Adjusted EBITDA is defined as net earnings, adjusted to exclude: (i) income tax; (ii) other expense (income); (iii) interest expense; (iv) depreciation and amortization; (v) acquisition-related items (including contingent acquisition consideration fair value adjustments, contingent acquisition consideration-related compensation expense and transaction costs); (vi) restructuring costs and (vii) stock-based compensation expense. We use adjusted EBITDA to evaluate our own operating performance and our ability to service debt, as well as an integral part of our planning and reporting systems. Additionally, we use this measure in conjunction with discounted cash flow models to determine the Company’s overall enterprise valuation and to evaluate acquisition targets. We present adjusted EBITDA as a supplemental measure because we believe such measure is useful to investors as a reasonable indicator of operating performance because of the low capital intensity of the Company’s service operations. We believe this measure is a financial metric used by many investors to compare companies, especially in the services industry. This measure is not a recognized measure of financial performance under GAAP in the United States, and should not be considered as a substitute for operating earnings, net earnings or cash flow from operating activities, as determined in accordance with GAAP. Our method of calculating adjusted EBITDA may differ from other issuers and accordingly, this measure may not be comparable to measures used by other issuers.

We use the term assets under management (“AUM”) as a measure of the scale of our Investment Management operations. AUM is defined as the gross market value of operating assets and the projected gross cost of development properties of the funds, partnerships and accounts to which we provide management and advisory services, including capital that such funds, partnerships and accounts have the right to call from investors pursuant to capital commitments. Our definition of AUM may differ from those used by other issuers and as such may not be directly comparable to similar measures used by other issuers.

COMPANY CONTACTS:

Christian Mayer
Chief Financial Officer
(416) 960-9500

การเปิดตัวแพลตฟอร์มเครื่องจักรความแม่นยำสูงพิเศษ 250UPL MP ของ Moore Nanotechnology Systems ซึ่งได้รับการคาดหวังเป็นอย่างสูงนี้จะสามารถตอบสนองความต้องการที่เพิ่มขึ้นเรื่อย ๆ สำหรับเครื่องมือแม่พิมพ์เลนส์ที่สามารถทำงานได้อย่างไร้จุดบกพร่องซึ่งใช้สำหรับตลาด AR/VR/MR กล้องสมาร์ทโฟน และรถยนต์ไฟฟ้าที่มีความต้องการที่เพิ่มสูงขึ้นเรื่อย ๆ โซลูชันนี้ให้ผลลัพธ์การเคลือบผิวระดับซับนาโนเมตรสำหรับการขึ้นรูปที่เกือบจะสมบูรณ์แบบอย่างที่ไม่เคยคาดคิดมาก่อน

สวอนซี รัฐนิวแฮมป์เชียร์, Jan. 24, 2022 (GLOBE NEWSWIRE) — วันนี้ Moore Nanotechnology Systems (“Nanotech”) ซึ่งเป็นบริษัทผู้จำหน่ายชั้นนำระดับโลกในด้านระบบเครื่องจักรความแม่นยำสูงพิเศษ ได้ประกาศเปิดตัวแพลตฟอร์มเครื่องจักรความแม่นยำสูงพิเศษรุ่นต่อไปของบริษัทซึ่งได้แก่ 250UPL MP โซลูชันนี้สามารถกำหนดค่า Single Point Diamond Turning (SPDT) ซึ่งเป็นแอปพลิเคชันการเจียรและการกัดโลหะในระดับซับนาโนเมตรทั้งหมด

ผู้ผลิตเครื่องมือแม่พิมพ์แบบออปติคัลต้องการผิวเคลือบที่มีคุณภาพสูงขึ้นเพื่อให้ระบบออปติคัลสามารถทำงานได้อย่างถูกต้อง ซึ่งปัจจุบันระบบนี้มีการใช้งานอย่างแพร่หลายในสมาร์ทโฟน AR/VR/MR และยานยนต์ เครื่องจักรความแม่นยำสูงพิเศษรุ่นปัจจุบันที่ใช้งานในทุกวันนี้ทำงานอย่างเต็มศักยภาพสูงสุดแล้ว จึงจำเป็นต้องมีการออกแบบคลีนชีตเพื่อให้สามารถทำงานได้อย่างมีประสิทธิภาพเพิ่มขึ้นในระดับถัดไป และ 250UPL MP ของ Nanotech มีคุณสมบัติที่ตรงและดียิ่งกว่าข้อกำหนดเหล่านี้

Mark Boomgarden ประธานและประธานเจ้าหน้าที่บริหารของ Nanotech อธิบายว่า “เราทำงานร่วมกับบริษัทผู้จำหน่ายชั้นนำทั่วโลกในด้านโมดูลกล้องและส่วนประกอบออปติคัล เพื่อให้ทราบข้อมูลเชิงลึกในระยะกลางและระยะยาวเกี่ยวกับข้อกำหนดของผลิตภัณฑ์และเทคโนโลยี ซึ่งจะนำไปใช้เป็นข้อมูลป้อนเข้าสำหรับแผนงานในการพัฒนาที่มีระยะเวลาหลายปีของเราเอง” Boomgarden กล่าวต่อไปว่า “มีข้อมูลชัดเจนว่าอุตสาหกรรมจำเป็นต้องใช้แพลตฟอร์มเครื่องมือสำหรับเครื่องจักรที่ช่วยเพิ่มขอบเขตความสามารถของเครื่องจักรความแม่นยำสูงพิเศษ และปัจจุบันอุตสาหกรรมมีความต้องการแพลตฟอร์มดังกล่าว จากความสำเร็จที่250UPL MPสร้างและสะสมมาเป็นระยะเวลาหลายปีในภาคส่วนนี้ ทำให้เจ้าหน้าที่ฝ่ายเทคนิคของเราสามารถเอาชนะความท้าทายและสามารถนำเสนอ ของ Nanotech ซึ่งเป็นหนึ่งในนวัตกรรมผลิตภัณฑ์ประเภทใหม่ ๆ ที่คุณจะได้เห็นจาก Nanotech ในอีก 12-18 เดือนข้างหน้านี้”

Paul Vermette รองประธานฝ่ายวิศวกรรมและการพัฒนาผลิตภัณฑ์ใหม่ของ Nanotech กล่าวเสริมว่า “ความสำเร็จในตลาดนี้มาจากการนำเสนอโซลูชันที่มีพื้นฐานมาจากการมีความรู้เป็นอย่างดีในเรื่องเกี่ยวกับกระบวนการ การลงทุนของเราในศูนย์พัฒนากระบวนการ ซึ่งตั้งอยู่ใกล้กับมหาวิทยาลัยนอร์ธแคโรไลนา ณ วิทยาเขตชาร์ลอตต์ นับเป็นส่วนประกอบที่มีคุณค่าอย่างยิ่งสำหรับการพัฒนาผลิตภัณฑ์และเทคโนโลยีของเรา” Vermette กล่าวต่อไปว่า “เมื่อเรานำเครื่องจักรใหม่ เช่น 250UPL MP ออกสู่ตลาด เราทราบว่าเรานำเสนอสิ่งที่เป็นมากกว่าเครื่องจักร เพราะเรากำลังนำเสนอโซลูชันที่สามารถแก้ปัญหาที่ซับซ้อนในโลกแห่งความเป็นจริง ซึ่งเป็นสิ่งที่อุตสาหกรรมการผลิตเครื่องมือออปติคัลต้องเผชิญในทุก ๆ วัน”

Scott Gerhart รองประธานฝ่ายขายของ Nanotech แสดงความคิดเห็นเพิ่มเติมว่า “ในช่วง 6 เดือนที่ผ่านมา เราได้จัดส่ง 250UPL MP ให้กับบริษัทหลายแห่งที่เป็นผู้นำตลาดทั่วโลก และได้รับผลตอบรับที่ดียิ่ง กล่าวอย่างง่าย ๆ ก็คือไม่มีเครื่องจักรรุ่นอื่นใดในปัจจุบันที่จะสามารถเคลือบผิวและให้ความแม่นยำในการขึ้นรูป ซึ่งเป็นสิ่งจำเป็นสำหรับการออกแบบออปติคัลที่บริษัทเหล่านี้กำลังจะเปิดตัวในอีก 36 เดือนข้างหน้า” Gerhart กล่าวต่อไปว่า “เรารู้สึกตื่นเต้นที่จะได้มีส่วนร่วมในการนำเสนอเครื่องจักรความแม่นยำสูงพิเศษให้กับทุกบริษัทในอนาคต เมื่อเราเปิดตัวแพลตฟอร์ม 250UPL MP อย่างเป็นทางการที่ Photonics West ในวันที่ 25 มกราคม 2565”

หากต้องการข้อมูลเพิ่มเติม โปรดติดต่อ sales@nanotechsys.com

Moore Nanotechnology Systems (Nanotech) ก่อตั้งขึ้นที่คีน รัฐนิวแฮมป์เชียร์ ในปี 2540 ในรูปแบบบริษัทลูกที่ดำเนินการอย่างอิสระของ Moore Tool Company ส่วน Nanotech เป็นผู้นำระดับโลกในด้านการออกแบบ การพัฒนา และการผลิตเครื่องจักรความแม่นยำสูงพิเศษ และกระบวนการที่เกี่ยวข้อง (การกลึงด้วยเพชรแบบจุดเดียว งานกัดขนาดเล็ก การเจียรขนาดเล็ก และการขึ้นรูปแก้วโดยใช้วิธีกดอัด) สำหรับการผลิตส่วนประกอบออปติคัลขั้นสูงในภาคส่วนอุปกรณ์อิเล็กทรอนิกส์สำหรับผู้บริโภค อวกาศ การป้องกันประเทศ การบินและอวกาศ แสงสว่าง การแพทย์ และยานยนต์ Moore Tool ก่อตั้งขึ้นในปี 1924 และตั้งอยู่ที่บริดจ์พอร์ต รัฐคอนเนตทิคัต โดยมีประวัติอันยาวนานในด้านความแม่นยำและตลาดเครื่องจักรความแม่นยำสูงพิเศษ ปัจจุบัน Moore Tool นำเสนอกลุ่มผลิตภัณฑ์ทั้งหมดด้านเครื่องเจียร CNC ประสิทธิภาพสูง ควบคู่ไปกับบริการการผลิตที่มีความแม่นยำตามสัญญาซึ่งได้รับใบรับรอง ISO 9001:2015 และ AS9100D ทั้งนี้ Moore Nanotechnology และ Moore Tool ได้ดำเนินงานร่วมกันในแนวตั้งภายใต้ PMT Group

Moore Nanotechnology Systems: www.nanotechsys.com
Moore Tool, Inc: www.mooretool.com

January 24, 2022

Fourth-quarter highlights

• Group sales amounted to EUR 4.9 billion, with a 10% comparable sales decline
• Comparable order intake increased 4%, driven by double-digit growth in the Diagnosis & Treatment businesses
• Income from continuing operations amounted to EUR 139 million and included an impact of EUR 220 million related to the addition to the Respironics field action provision; income from continuing operations was EUR 508 million in Q4 2020
• Adjusted EBITA of EUR 647 million, or 13.1% of sales, compared to EUR 995 million, or 19.0% of sales, in Q4 2020
• Operating cash flow was EUR 720 million, resulting in a free cash flow of EUR 519 million

Full-year highlights

• Group sales amounted to EUR 17.2 billion, with high-single-digit comparable sales growth in the Diagnosis & Treatment and Personal Health businesses, offset by a decline in the Connected Care businesses, resulting in a 1% comparable sales decline
• Comparable order intake increased 4%, driven by double-digit growth in the Diagnosis & Treatment businesses
• Income from continuing operations was EUR 612 million and included an impact of EUR 719 million related to the Respironics field action provision; income from continuing operations was EUR 999 million in 2020
• Adjusted EBITA of EUR 2,054 million, or 12.0% of sales, compared to EUR 2,277 million, or 13.2% of sales, in 2020
• Operating cash flow was EUR 1,629 million, resulting in a free cash flow of EUR 900 million
• Proposed dividend maintained at EUR 0.85 per share, in cash or shares at the option of the shareholder

Frans van Houten, CEO of Royal Philips:

“In the fourth quarter, we recorded EUR 4.9 billion sales, reflecting a 10% comparable sales decline, with an Adjusted EBITA margin of 13.1%. As we announced on January 12, 2022, sales were impacted by several headwinds, namely supply chain challenges, postponement of equipment installations in hospitals related to COVID-19, and the consequences of the Respironics field action.

Our strategy and portfolio continue to resonate very well with customers and consumers, generating good demand for our products and solutions. For the full year, I am pleased with the 8% comparable sales growth in the Diagnosis & Treatment businesses and 9% growth in the Personal Health businesses. Connected Care sales declined, resulting in a 1% comparable sales decrease for the Group. The aforementioned headwinds had a combined impact of 5 percentage-points on the Group’s full year comparable sales.

Group comparable order intake growth also remained robust throughout the year, with 4% growth for the full year, driven by double-digit growth in the Diagnosis & Treatment businesses. This further builds on the high-single-digit Group comparable order intake growth in 2020, resulting in an all-time-high order book. During 2021, we signed 80 long-term strategic partnerships and launched innovations such as the Spectral CT 7500 to support a precision diagnosis, as well as expanding our Azurion image-guided therapy platform with breakthrough applications to innovate minimally invasive treatments. We also continued to help consumers take better care of their health with our personal health offerings.

Patient well-being is at the heart of everything we do at Philips, and we remain extremely focused on repairing and replacing the devices related to the Philips Respironics recall notification. We are conducting a comprehensive test and research program and provided an update in December on the positive VOC test results related to the first-generation DreamStation devices.

Based on good customer demand and our growing order book, we expect to resume our growth and margin expansion trajectory in the course of 2022. In the short term, however, we continue to see significant volatility and headwinds related to COVID-19 and supply chain challenges, despite our ongoing mitigation efforts. Due to this, the Respironics field action and the 9% comparable sales growth in Q1 2021, we expect to start the year with a comparable sales decline, followed by a recovery and strong second half of the year. For the full year, we target to deliver 5-6% comparable sales growth excluding Sleep & Respiratory Care. For the Group, we target 3-5% comparable sales growth and a 40-90 basis-points improvement in Adjusted EBITA margin.”

Business segment performance
Driven by Philips’ attractive portfolio, comparable order intake for the Diagnosis & Treatment businesses increased 10%, with double-digit growth in Image-Guided Therapy and mid-single digit growth in Ultrasound in the fourth quarter. Comparable sales were in line with Q4 2020, with double-digit growth in Image-Guided Therapy, offset by declines in Ultrasound and Diagnostic Imaging. The Adjusted EBITA margin was 13.0% in the quarter, mainly impacted by lower sales due to supply chain headwinds. For the full year, the Diagnosis & Treatment businesses recorded 8% comparable sales growth and an Adjusted EBITA margin of 12.4%.

The Connected Care businesses’ comparable order intake declined 10% on the back of high COVID-19-generated demand in Q4 2020. Hospital Patient Monitoring orders showed continued growth in Q4 2021, driven by the ongoing structural increase in adoption of patient care management solutions in both high- and low-acuity care settings in the hospital. Comparable sales decreased 32% in the fourth quarter following the aforementioned high COVID-19-generated demand in Q4 2020, and a double-digit decline in Sleep & Respiratory Care in Q4 2021, because of the Respironics field action. The Adjusted EBITA margin amounted to 11.7% in the quarter, mainly impacted by the decline in sales. For the full year, the Connected Care businesses recorded a 23% comparable sales decrease and an Adjusted EBITA margin of 10.6%.

The Personal Health businesses’ comparable sales decreased 3%, mainly impacted by supply chain shortages. The Adjusted EBITA margin increased to 21.6%, mainly driven by productivity measures. For the full year, the Personal Health businesses delivered 9% comparable sales growth and an increased Adjusted EBITA margin of 17.6%.

Philips’ ongoing focus on innovation and partnerships resulted in the following key developments in the quarter and the year:

• In 2021, Philips’ products and solutions improved the lives of 1.7 billion people, including 167 million people in underserved communities. In addition, Philips was again recognized for its leading sustainability performance in the 2021 Dow Jones Sustainability Indices and CDP’s Climate Change A-list.
• Philips signed 35 new long-term strategic partnerships in North America, Europe and Asia, including a 10-year agreement with a large integrated healthcare system in the US for advanced patient monitoring and enterprise imaging solutions, as well as analytics and services to enhance operational outcomes and performance.
• Philips further expanded its leading image-guide therapy portfolio through the acquisition of Vesper Medical, adding a venous stenting solution to address the root cause of chronic deep venous disease and enhance patient care. This will complement Philips’ strong IVUS offering in venous imaging and expand the company’s growth in the vascular therapy market.
• Building on the ambulatory cardiac diagnostics and monitoring solutions resulting from the BioTelemetry acquisition, Philips acquired Cardiologs, adding a vendor-neutral heart disorder screener and ECG analysis applications based on machine learning algorithms. This technology will accelerate diagnostic reporting and streamline clinician workflow and patient care.
• Philips has provided The First Affiliated Hospital of Zhengzhou University – one of the biggest hospitals in the world, with more than 10,000 beds – with a range of advanced diagnostic imaging and image-guided therapy systems, including IQon Spectral CT and the Azurion image-guided therapy platform.
• Expanding Philips’ unique helium-free operating MR imaging portfolio, the company received FDA clearance for its new MR 5300 system. Powered by AI, the MR 5300 simplifies and automates complex clinical and operational tasks for imaging departments to help accelerate workflows and improve access to affordable, quality care.
• Further expanding the company’s comprehensive CT portfolio, Philips introduced the new CT 5100 Incisive with CT Smart Workflow, comprising AI-enabled capabilities designed to accelerate workflows, enhance diagnostic confidence, and maximize system up-time.
• Highlighting the company’s leading position in high-acuity care settings, Philips received FDA clearance for the IntelliVue MX750 and MX850 patient monitors, which are uniquely designed to support scalability, alarm management, cybersecurity, and enhanced infection prevention within the hospital.
• Philips completed the successful roll-out of the Sonicare 9900 Prestige in North America, China, Europe, Middle East and Asia Pacific. The premium electric toothbrush finished #1 in the Stiftung Warentest, Europe’s leading consumer organization. Philips further expanded its oral healthcare portfolio with the launch of innovative interdental cleaning devices in North America, China and Asia Pacific.

Capital allocation
In the fourth quarter, Philips completed the EUR 1.5 billion share repurchase program for capital reduction purposes that was initiated in the first quarter of 2019. Under the share buyback program that was announced on July 26, 2021, Philips acquired a total of approximately 21.8 million shares in the fourth quarter and in January 2022 through open market purchases. In previous quarters, Philips had already entered into a number of forward transactions with settlement dates in 2022, 2023 and 2024.

Philips completed the cancellation of 33.5 million of its shares that were acquired under both repurchase programs. Further details on Philips’ current repurchase program and previous programs can be found here.

Philips Respironics field action
As announced on January 12, 2022, Philips Respironics is increasing the field action provision by EUR 220 million, mainly due to the higher volume of registered devices eligible for remediation, following the comprehensive customer and patient outreach program in the fourth quarter, and increased supply costs.

Philips Respironics has submitted a comprehensive response and action plan in connection with the November 2021 Form-483 to the FDA, which are being evaluated. Philips Respironics continues to engage with the FDA and other relevant competent authorities.

In December 2021, Philips provided an update on the VOC test results to date for the first-generation DreamStation devices. The results indicate that the VOC concentrations are within safe exposure limits specified in the applicable safety standard (ISO 18562). Comprehensive particulate testing and analyses are expected to be completed in the second quarter of 2022.

To date, Philips Respironics has produced a total of approximately 1.5 million repair kits and replacement devices – of which approximately 750,000 have reached customers – and aims to complete the repair and replacement program in the fourth quarter of 2022.

As previously disclosed, in relation to the affected devices, Philips Respironics is a defendant in several class-action lawsuits and individual personal injury claims. Given the uncertain nature and timing of the relevant events and potential associated obligations, if any, the company is unable to reliably estimate the financial effect of these matters.

Cost savings
Gross cost savings amounted to EUR 91 million in the fourth quarter, and EUR 398 million for the full year 2021. After deducting cost increases related to increases in supply costs, net savings amounted to EUR 19 million in the fourth quarter, and EUR 279 million for the full year.

Click here to view the release online

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 78,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements and other important information

Forward-looking statements

This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include: statements made about our strategy; estimates of sales growth; future Adjusted EBITA; future restructuring and acquisition-related charges and other costs; future developments in Philips’ organic business; and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

These factors include but are not limited to: changes in industry or market circumstances; economic, political and societal changes; Philips’ increasing focus on health technology and solutions; the successful completion of divestments; the realization of Philips’ objectives in growth geographies; business plans and integration of acquisitions; securing and maintaining Philips’ intellectual property rights, and unauthorized use of third-party intellectual property rights; COVID-19 and other pandemics; breaches of cybersecurity; IT system changes or failures; the effectiveness of our supply chain; challenges to drive operational excellence, productivity and speed in bringing innovations to market; attracting and retaining personnel; future trade arrangements following Brexit; compliance with regulations and standards, including quality, product safety and data privacy; compliance with business conduct rules and regulations; treasury risks and other financial risks; tax risks; costs of defined-benefit pension plans and other post-retirement plans; reliability of internal controls, financial reporting and management process. As a result, Philips’ actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Risk management chapter included in the Annual Report 2020.

Philips has recognized a provision related to the voluntary recall notification in the US/field safety notice outside the US for certain sleep and respiratory care products, based on Philips’ best estimate for the expected field actions. The future developments are subject to significant uncertainties, which require management to make estimates and assumptions about items such as quantities, costs to repair or replace, and duration. Actual outcomes in future periods may differ from these estimates and affect the company’s results of operations, financial position and cash flows.

Third-party market share data

Statements regarding market share, contained in this document, including those regarding Philips’ competitive position, are based on outside sources such as specialized research institutes, industry and dealer panels in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management’s estimates of rankings are based on order intake or sales, depending on the business.

Market Abuse Regulation

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Use of non-IFRS information

In presenting and discussing the Philips Group’s financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2020.

Use of fair value information

In presenting the Philips Group’s financial position, fair values are used for the measurement of various items in accordance with the applicable accounting standards. These fair values are based on market prices, where available, and are obtained from sources that are deemed to be reliable. Readers are cautioned that these values are subject to changes over time and are only valid at the balance sheet date. When quoted prices or observable market data are not readily available, fair values are estimated using appropriate valuation models and unobservable inputs. Such fair value estimates require management to make significant assumptions with respect to future developments, which are inherently uncertain and may therefore deviate from actual developments. Critical assumptions used are disclosed in the Annual Report 2020. In certain cases independent valuations are obtained to support management’s determination of fair values.

Presentation

All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2020 except for the adoption of new standards and amendments to standards which are also expected to be reflected in the company’s consolidated IFRS financial statements as at and for the year ending December 31, 2021.

On September 1, 2021, Philips completed the sale of the Domestic Appliances business. The results of this transaction, which Philips announced on March 25, 2021, are presented under Discontinued Operations in this report. Comparative results have been restated to reflect the treatment of the Domestic Appliances business as a discontinued operation since Q1 2021. Further details of the restatement have been published on the Philips Investor Relations website and can be accessed here.

Prior-period amounts have been reclassified to conform to the current-period presentation; this includes immaterial organizational changes.