O-RAN ALLIANCE Extended Board of Directors has been elected for the upcoming 2-year termAbdurazak Mudesir, Group CTO of Deutsche Telekom, was re-elected as Chair of the Board

BONN, Germany, Jan. 13, 2025 /CNW/ — On December 17, 2024, the O-RAN ALLIANCE General Members Meeting concluded election of its Extended Board of Directors for the upcoming 2-year term.

O-RAN ALLIANCE welcomes China Telecom, SoftBank and UScellular as new Board members.

Current members of the Board are:

Abdurazak Mudesir, Group CTO of Deutsche Telekom, was re-elected as Chair of the Board.

“With O-RAN ALLIANCE specifications and architecture, operators have the option to deploy Radio Access Networks that are open and secure, and enhanced with intelligent functions to optimize deployments and operations,” said Abdurazak Mudesir, Chair of the Board of O-RAN ALLIANCE and Group CTO of Deutsche Telekom. “Guided by operator priorities, O-RAN ALLIANCE remains committed to driving the transformation of the RAN toward openness, intelligence, virtualization, and full interoperability, to enable large-scale deployments in mobile networks.”

About O-RAN ALLIANCE
The O-RAN ALLIANCE is a world-wide community of mobile operators, vendors, and research & academic institutions operating in the Radio Access Network (RAN) industry. As the RAN is an essential part of any mobile network, the O-RAN ALLIANCE’s mission is to re-shape the industry towards more intelligent, open, virtualized and fully interoperable mobile networks. The new O-RAN specifications enable a more competitive and vibrant RAN supplier ecosystem with faster innovation to improve user experience. O-RAN based mobile networks at the same time improve the efficiency of RAN deployments as well as operations by mobile operators. To achieve this, the O-RAN ALLIANCE publishes new RAN specifications, releases open software for the RAN, and supports its members in integration and testing of their implementations.

For more information, please visit www.o-ran.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/o-ran-alliance-announces-its-new-board-of-directors-for-the-term-2024-2026-302349807.html

SOURCE O-RAN Alliance

NEW YORK, Jan. 13, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global sensors in oil and gas market size is estimated to grow by USD 1.59 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  3.6%  during the forecast period. Increase in ING trade is driving market growth, with a trend towards increasing adoption of iot products. However, price volatility in oil and gas industry  poses a challenge. Key market players include ABB, Amphenol Corp., Automation Products Inc., BD SENSORS GmbH., Carlo Gavazzi, Edinburgh Instruments Ltd., Emerson Electric Co., Endress Hauser Group Services AG, Figaro Engineering Inc., Fortive Corp., Gas Sensing Solutions Ltd., General Electric Co., Honeywell International Inc., LORD Corp., Robert Bosch GmbH, Rockwell Automation Inc., RS Technics BV, Siemens AG, and TE Connectivity Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

In the Oil and Gas industry, sensors play a crucial role in refineries, upstream exploration, and downstream processes. Trends include governmental policies driving productivity and environmental performance, seismic images for exploration, and the use of drones for detection. In the midstream, miniaturized wireless sensors monitor gas and oil flow rates, pressure, and temperature. Upfront expenses for sensor technology can be high, but the profitability from increased efficiency, inventory management, and OPEX savings outweigh the costs. Technical advancements in gas sensors, pressure sensors, and temperature sensors continue to improve reaction times and detection limits. Connectivity through IoT platforms enables real-time data interpretation and communication technologies for automotive emissions and compliance requirements. The micro-electromechanical sector and raw materials contribute to the miniaturization and standardization of sensors. The renewable sector and electric car technology also impact the market, with a focus on leak detection, maintenance, and upgrades in refining capacity. 

In the oil and gas sector, Internet of Things (IoT) sensors play a crucial role with their high accuracy, dependability, and adaptability. These sensors are essential for various applications, including remote monitoring, condition assessment, and analysis and simulation. Primarily, they measure pressure, level, flow, and temperature. The upsurge in unconventional drilling has boosted the demand for liquid-level sensors in the upstream industry. According to the US Bureau of Labor Statistics, approximately 40% of all work-related fatalities in the US occur during drilling and exploration activities. Consequently, the need for oil and gas sensors is projected to escalate, ensuring enhanced safety and operational efficiency. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

In the Oil and Gas industry, refineries face challenges from governmental policies, upstream exploration costs, and the need for increased productivity. Seismic images and drones help with exploration, but downstream processes require solutions for inventory management, environmental performance, and safety. Productivity gains come from technical advancements like miniaturized wireless sensors, IoT platforms, and connectivity. Upfront expenses for assembling options and installation can be high, but the profitability comes from Opex savings, improved reaction times, and compliance with emissions regulations. Midstream and upstream operations require pressure sensors, temperature sensors, and flow rate measurement for distribution and maintenance. Gas sensors detect hazardous gases and help with automotive emissions and renewable sector applications. Technical developments in sensor technology offer interoperability, data interpretation, and real-time monitoring for drilling operations and leak detection. The micro-electromechanical sector and polymer materials play a crucial role in sensor miniaturization and reliability. Standardization and communication technologies ensure stability in the face of complex drilling techniques like unconventional drilling and directional drilling. Ultimately, sensor technology upgrades contribute to refining capacity, profit, and liability reduction.The oil and gas industry’s price volatility poses a significant challenge to the global sensors market. Sudden oil price drops can disrupt investment plans, leading to delays or cancellations of sensor deployment projects. For instance, when oil prices decrease, oil companies often reduce exploration and production activities, decreasing the demand for sensors used in these operations. Conversely, when prices rise, there’s a rush to increase production, straining the sensor supply chain. This volatility also impacts the financial stability of oil and gas companies, making it difficult for them to commit to long-term investments in advanced sensor technologies.

Discover how AI is revolutionizing market trends- Get your access now!

This sensors in oil and gas market report extensively covers market segmentation by  

Type 1.1 Wired1.2 WirelessGeography 2.1 APAC2.2 North America2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 Wired-  The wired segment is anticipated to lead the global sensors in oil and gas market due to its dependability and precision. These sensors are directly linked to devices, ensuring steady and precise data transfer, which is essential for monitoring and managing various processes. The expanding exploration and production activities fuel the demand for wired sensors, which are indispensable for applications such as remote monitoring and condition analysis, where consistent and accurate data is vital. Furthermore, wired sensors are favored in environments where wireless signals may be unreliable or where a continuous power supply is necessary. The downstream sector, including refining and processing activities, is projected to witness substantial growth in the adoption of wired sensors, driven by the need for precise monitoring and control to ensure safety and efficiency. Key players like Honeywell and Siemens continue to innovate and introduce advanced wired sensor technologies to cater to the evolving requirements of the industry. In summary, the wired segment’s dominance is due to its reliability, accuracy, and applicability to critical applications in the oil and gas industry, making it a significant growth driver for the market during the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Sensors in Oil and Gas market is witnessing significant growth due to the integration of advanced technologies such as cloud computing, big data, artificial intelligence, and the Internet of Things (IoT). These technologies enable real-time data acquisition, remote monitoring, production optimization, predictive maintenance, pipeline integrity, and leak detection. Sensors play a crucial role in equipment maintenance, process control, field operations, asset management, data analytics, and well performance. They help in risk management, sustainability reporting, safety and security, and emissions monitoring. Smart sensors, machine learning, and data visualization are also gaining popularity for operational optimization and cost reduction. Digital transformation is driving the adoption of cloud-based IoT platforms and wireless sensor networks for cybersecurity and regulatory compliance. Sensor accuracy, sensor lifespan, and cost-effective solutions are key considerations for the market. The oil and gas industry’s exploration and production, supply chain management, and consumer electronics sectors are also adopting sensors for various applications, including smart city infrastructure. Sensor calibration and sensor adoption are ongoing challenges, but advancements in technology are addressing these issues. Overall, sensors are revolutionizing the oil and gas industry by improving efficiency, safety, and sustainability.

Market Research Overview

The Sensors in Oil and Gas market is witnessing significant growth due to the increasing demand for productivity enhancement and environmental performance in the industry. Seismic images, temperature, pressure, flow rates, and gas detection are some of the critical parameters monitored using sensors in upstream exploration and production. In the midstream and downstream sectors, inventory management, air monitoring, and liability management are key areas where sensors play a crucial role. Technical advancements in sensor technology, miniaturization, and wireless connectivity are driving the market’s growth. The oil price volatility and governmental policies are major factors influencing the market’s profitability. The market is witnessing the emergence of IoT platforms and smart sensors for real-time data interpretation and reaction times. The market includes various types of sensors like pressure sensors, temperature sensors, ultrasonic sensors, infrared sensors, and gas sensors. The market’s complexity and upfront expenses are some of the challenges, but the potential for OPEX savings and compliance requirements make it an attractive investment for businesses in the oil and gas sector. The market also caters to the renewable sector and electric car technology, with applications in unconventional drilling techniques, AUVs, and drilling operations. The market’s future looks promising with ongoing research and development and the integration of advanced communication technologies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeWiredWirelessGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/sensors-in-oil-and-gas-market-to-grow-by-usd-1-59-billion-from-2025-2029–driven-by-rising-lng-trade-and-ai-powered-market-evolution—technavio-302347906.html

SOURCE Technavio

Strong customer momentum driven by solid Internet subscriber growth in Canada and improving subscriber performance in the U.S.Three-year transformation program centered on synergies, digitization, advanced analytics and network expansion, as well as initiatives to transform our radio business, fully underway.On track to launch wireless in Canada over the coming quarters.Adjusted EBITDA(1) grew by 1.4% over last year, while profit for the period increased by 9.8%.Fiscal 2025 financial guidelines maintained.A quarterly dividend of $0.922 per share was declared, representing an 8.0% increase over the prior year.

MONTRÉAL, Jan. 13, 2025 /CNW/ – Today, Cogeco Inc. (TSX: CGO) (“Cogeco” or the “Corporation”) announced its financial results for the first quarter ended November 30, 2024.

“As we enter fiscal 2025 under a new operating model focused on synergies, digital, and analytics, we are already seeing positive developments in many aspects of our business,” said Frédéric Perron, President and CEO. “High-speed Internet subscriber growth remains strong in Canada, subscriber metrics are improving in the U.S, and our preparation for an upcoming Canadian wireless launch is on track.

“Our Canadian telecommunications business recorded solid Internet subscriber growth in both the Cogeco and oxio brands, as well as from the network expansion program in Ontario.

“In the U.S., our financial results were as expected. Our overall product mix continued to improve, driven by demand for higher speed offerings, while efficiency initiatives drove another quarter of solid adjusted EBITDA margin. Furthermore, we recorded improving subscriber trends, including our best performance in Ohio since we acquired the business.

“At Cogeco Media, competitive dynamics in the radio advertising market remain challenging, however, our digital advertising solutions continue to provide a growing contribution to our overall revenue, and we continue to experience strong listener engagement with radio stations remaining at the top of the ratings.

“We have successfully embarked on a three-year transformation program to improve our agility and competitiveness by pursuing new growth initiatives and forging a simpler cost-efficient North American organization. I would like to thank our employees and stakeholders for their continued support.”

Consolidated Financial Highlights

Operating results

For the first quarter of fiscal 2025 ended on November 30, 2024:

Revenue decreased by 1.4% to $765.0 million. On a constant currency basis(1), revenue decreased by 1.8% due to a decline in revenue in the American telecommunications segment and in the media activities, while revenue remained stable in the Canadian telecommunications segment.American telecommunications’ revenue decreased by 2.6%, or 3.4% in constant currency, mainly due to a decline in our subscriber base, especially for entry-level services, and to a higher proportion of customers subscribing to Internet-only services. The decline was offset in part by a better product mix.Revenue in the media activities decreased by 7.8% as competitive dynamics in the radio advertising market remain challenging.Canadian telecommunications’ revenue remained stable, mainly driven by the cumulative effect of high-speed Internet service additions over the past years, including from network expansion projects, as well as from the Niagara Regional Broadband Network acquisition completed on February 5, 2024, offset by an overall decline in video and wireline phone service subscribers as an increasing proportion of customers subscribe to Internet-only services.Adjusted EBITDA increased by 1.4% to $371.1 million. On a constant currency basis, adjusted EBITDA increased by 1.0%, mainly due to higher adjusted EBITDA in the Canadian telecommunications segment and lower corporate costs driven by initiatives undertaken in relation to the strategic wireless partnerships announced in August, offset in part by lower revenue in the media activities, while adjusted EBITDA remained stable in the American telecommunications segment.Canadian telecommunications adjusted EBITDA increased by 1.6% as reported and in constant currency, mostly due to lower operating expenses driven by lower technology licensing costs and the timing of certain operating expenses, a $2.6 million gain on disposals of certain property, plant and equipment, as well as cost reduction initiatives and operating efficiencies.American telecommunications adjusted EBITDA remained stable as reported and in constant currency, driven by cost reduction initiatives and operating efficiencies, offset by lower revenue.Profit for the period amounted to $108.4 million, of which $29.8 million, or $3.09 per diluted share, was attributable to owners of the Corporation compared to $98.7 million, $34.5 million, and $2.21 per diluted share, respectively, in the comparable period of fiscal 2024. The increase in profit for the period resulted mainly from a lower financial expense due in part to last year’s pre-tax $16.9 million non-cash loss on debt extinguishment recognized following a US$1.6 billion refinancing in September 2023, a pre-tax $13.8 million non-cash gain recognized during the first quarter of fiscal 2025 in connection with a sale and leaseback transaction of a building in Ontario, and higher adjusted EBITDA. The increase was partly offset by higher depreciation and amortization expense and higher income tax expense. The decrease in profit for the period attributable to owners of the Corporation mainly reflected the impact of the reduced ownership in Cogeco Communications following a share repurchase transaction in December 2023.Adjusted profit attributable to owners of the Corporation(3) was $27.2 million, or $2.82 per diluted share(3), compared to $40.0 million, or $2.57 per diluted share, last year. The increase of adjusted diluted earnings per share over last year reflects the benefit of last year’s December’s share buyback transaction.Net capital expenditures were $150.9 million, an increase of 2.9% compared to $146.7 million in the same period of the prior year. In constant currency, net capital expenditures(1) were $150.2 million, an increase of 2.4% compared to last year, mainly due to higher spending in the American telecommunications segment mostly due to the timing of certain initiatives, offset in part by lower spending in the Canadian telecommunications segment, also mainly due to the timing of certain initiatives and lower purchases of customer premise equipment.Excluding network expansion projects, net capital expenditures were $129.1 million, an increase of 12.3% compared to $115.0 million in the same period of the prior year. In constant currency, net capital expenditures, excluding network expansion projects(1) were $128.4 million, an increase of 11.7% compared to last year, mainly due to the same factors as above.Fibre-to-the-home network expansion projects continued in both Canada and the United States, with the addition of close to 9,500 homes passed during the first quarter of fiscal 2025.Acquisition of property, plant and equipment amounted to $153.5 million and remained stable compared to last year.Free cash flow(2) increased by 7.3%, or 7.2% in constant currency, and amounted to $152.5 million, or $152.2 million in constant currency(1), mainly due to net proceeds from disposals of property, plant and equipment, including net proceeds amounting to $16.5 million received in connection with a sale and leaseback transaction of a building in Ontario, offset in part by higher current income taxes and net capital expenditures. Free cash flow, excluding network expansion projects(2) amounted to $174.3 million, or $174.0 million in constant currency, and remained stable compared to the same period of the prior year.Cash flows from operating activities decreased by 11.9% to $208.7 million, mostly due to lower cash from other non-cash operating activities, due in part to the timing of grants received in connection with network expansion projects and the collection of trade accounts receivable, and higher income taxes paid, partly offset by higher adjusted EBITDA.Cogeco maintains its fiscal 2025 financial guidelines as issued on October 31, 2024.At its January 13, 2025 meeting, the Board of Directors of Cogeco declared a quarterly eligible dividend of $0.922 per share, an increase of 8.0% compared to $0.854 per share in the comparable quarter of fiscal 2024

Financial highlights

Forward-looking statements

Certain statements contained in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Inc.’s (“Cogeco” or the “Corporation”) future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. Particularly, statements relating to the Corporation’s financial guidelines, future operating results and economic performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, purchase price allocation, tax rates, weighted average cost of capital, performance and business prospects and opportunities, which Cogeco believes are reasonable as of the current date. Refer in particular to the “Corporate objectives and strategy” and “Fiscal 2025 financial guidelines” sections of the Corporation’s fiscal 2024 annual Management’s Discussion and Analysis (“MD&A”) for a discussion of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While management considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco currently expects. These factors include risks such as general market conditions, competitive risks (including changing competitive and technology ecosystems and disruptive competitive strategies adopted by our competitors), business risks, regulatory risks, tax risks, technology risks (including cybersecurity), financial risks (including variations in currency and interest rates), economic conditions (including inflation pressuring revenue, reduced consumer spending and increasing costs), talent management risks (including the highly competitive market for a limited pool of digitally skilled employees), human-caused and natural threats to the Corporation’s network (including increased frequency of extreme weather events with the potential to disrupt operations), infrastructure and systems, sustainability and sustainability reporting risks, ethical behavior risks, ownership risks, litigation risks and public health and safety, many of which are beyond the Corporation’s control. Moreover, the Corporation’s radio operations are significantly exposed to advertising budgets from the retail industry, which can fluctuate due to increased competition and changing economic conditions. For more exhaustive information on these risks and uncertainties, the reader should refer to the “Uncertainties and main risk factors” section of the Corporation’s fiscal 2024 annual MD&A and of the fiscal 2025 first-quarter MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco and future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release and the forward-looking statements contained in this press release represent Cogeco’s expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While management may elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.

All amounts are stated in Canadian dollars unless otherwise indicated. This press release should be read in conjunction with the Corporation’s MD&A for the three-month period ended November 30, 2024, the Corporation’s condensed interim consolidated financial statements and the notes thereto for the same period prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and the Corporation’s fiscal 2024 Annual Report.

Non-IFRS Accounting Standards and other financial measures

This press release includes references to non-IFRS Accounting Standards and other financial measures used by Cogeco. These financial measures are reviewed in assessing the performance of Cogeco and used in the decision-making process with regard to its business units.

Reconciliations between non-IFRS Accounting Standards and other financial measures to the most directly comparable IFRS Accounting Standards measures are provided below. Certain additional disclosures for non-IFRS Accounting Standards and other financial measures used in this press release have been incorporated by reference and can be found in the “Non-IFRS Accounting Standards and other financial measures” section of the Corporation’s MD&A for the three-month period ended November 30, 2024, available on SEDAR+ at www.sedarplus.ca. The following non-IFRS Accounting Standards measures are used as a component of Cogeco’s non-IFRS Accounting Standards ratios.

Financial measures presented on a constant currency basis for the three-month period ended November 30, 2024 are translated at the average foreign exchange rate of the comparable period of the prior year, which was 1.3654 USD/CDN.

Constant currency basis and foreign exchange impact reconciliation

Consolidated

Canadian telecommunications segment

American telecommunications segment

Adjusted profit attributable to owners of the Corporation

Free cash flow and free cash flow, excluding network expansion projects reconciliations

Net capital expenditures reconciliation

Adjusted EBITDA reconciliation

Net capital expenditures and free cash flow, excluding network expansion projects reconciliations

Net capital expenditures

Free cash flow

Additional information

Additional information relating to the Corporation is available on SEDAR+ at www.sedarplus.ca and on the Corporation’s website at corpo.cogeco.com.

About Cogeco Inc.

Cogeco Inc. is a North American leader in the telecommunications and media sectors. Through Cogeco Communications Inc., we provide world-class Internet, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. We also offer wireless services in most of our U.S. operating territory. Through Cogeco Media, we operate 21 radio stations in Canada, primarily in the province of Québec, as well as a news agency. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Both Cogeco Inc.’s and Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO and CCA).

For information:

Investors
Troy Crandall
Head, Investor Relations
Cogeco Inc.
Tel.: 514 764-4600
troy.crandall@cogeco.com

Media
Claudja Joseph
Director, Communications & DEI
Cogeco Inc.
Tel.: 514 764-4600
claudja.joseph@cogeco.com

SOURCE Cogeco Inc.