Revenue grew by 23.8% compared to previous yearGross profit of SAR 179.8 million, a 21.7% increase compared to Q3FY23Adjusted EBITDA rose 29.5% to SAR 210.2 million

JEDDAH, Saudi Arabia, Nov. 16, 2024 /PRNewswire/ — Sustainable Infrastructure Holding Company (“SISCO”, “TADAWUL: 2190”), Saudi Arabia’s leading strategic investor in Ports & Logistics and Water Solutions has announced its financial results for the quarter ended 30 September 2024.

Revenues for the third quarter of 2024, excluding accounting construction revenue, grew by 23.8% compared to Q3FY23 to reach SAR 341.8 million. On a quarter-to-quarter basis, revenues grew by 13.0% compared to Q2FY24.

The third-quarter gross profit of SAR 179.8 million represents 14.7% quarter-on-quarter growth and 21.7% growth compared to Q3FY23. The gross profit margin for Q3FY24 was down 0.9% year-on-year, due to increased depreciation and direct costs, but was up 0.8% quarter-on-quarter, in line with expectations. Year-to-date saw gross profits increase by 13.8% to SAR 469.5 million.

Adjusted EBITDA growth rose 29.5% to SAR 210.2 million compared to Q3FY23, aligning SISCO with strategic goals. Quarter-on-quarter growth was 20.8%, with a year-to-date increase of 17.7% to SAR 543.8 million.

SISCO reports a strong recovery in the Red Sea Gateway Terminal from subdued Q3FY23 Port segment results due to the Red Sea situation. Port volume reached 828,868 TEUs in Q3FY24, returning to levels similar to Q4FY23.

Commenting on the results: Eng. Khalid Suleimani, Group CEO, SISCO said:

“I am pleased to report that SISCO has continued to demonstrate strong growth and operational performance in Q3FY24, with revenues improving by 23.8% compared to Q3FY23. Our Ports segment, which remains a key growth driver, saw a significant increase, leading to robust results despite the Red Sea challenges.

Net income remains strong, despite the one-off payment of SAR 25 million to Zakat. Another highlight of the quarter is the impressive recovery in the Red Sea Gateway Terminal, highlighting it’s resilience.

We are also excited to announce the Multi-Purpose Terminals (MPT) concession, which will allow us to expand operations across all non-containerised port facilities in the Red Sea Gateway Terminal. This strategic initiative positions SISCO to capture further growth opportunities domestically and internationally.

Looking ahead, we remain committed to executing our five-year strategy to double revenues by 2026 and continue delivering long-term value to our shareholders.”

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BAKU, Azerbaijan, Nov. 16, 2024 /PRNewswire/ — Carbon Mapper released over 300 methane and CO2 plume detections today— its first tranche of emissions data based on observations from the Tanager-1 satellite which was launched in August. Tanager-1 is built and operated by Planet Labs PBC and made possible by the Carbon Mapper Coalition, a philanthropically backed public-private partnership including Planet Labs and NASA’s Jet Propulsion Laboratory among others. This data offers granularity on sources of super-emitters around the world, driving direct actions to cut methane and carbon dioxide as proven by an early mitigation success story.

On Oct. 9, Tanager-1 detected a large plume of methane which Carbon Mapper determined was stemming from a gathering pipeline in the Texas Permian Basin. The team reported the leak to a state agency and the U.S. government, who subsequently notified the facility operator. The operator quickly responded and voluntarily conducted repairs, leading to meaningful emissions reduction. Follow up observations from Tanager-1 detected no plume, confirming the leak was successfully fixed.

Carbon Mapper’s preliminary emissions estimate of this leak is approximately 7,000 kilograms of methane per hour. Each hour it was emitting equaled the same CO2 emissions as driving 47 gas-powered cars for a year.

This first verified methane mitigation action adds to existing evidence that when decision makers are empowered with data on the exact sources of emissions, they can effectively prioritize actions that cut waste and eliminate methane. This mitigation is consistent with pilot airborne surveys Carbon Mapper has conducted in several U.S. states including California and Colorado. Through these pilots, Carbon Mapper has found that nearly half of super-emitting events flagged for state agencies and operators were previously unknown, and once identified, were voluntarily mitigated.

“Tackling methane quickly is a crucial global priority. This early mitigation success story shows that remote sensing technologies with unique capabilities like Tanager-1 can be a gamechanger in driving down emissions in the near-term,” said Carbon Mapper CEO Riley Duren.

To scale these local mitigation successes globally, Carbon Mapper is making new data from Tanager-1 publicly available on its data portal. These include detections of methane and CO2 in 34 countries across the oil and gas, waste, and agriculture sectors. This work is supported by the High Tide Foundation, Grantham Foundation for the Protection of the Environment, Bloomberg Philanthropies, Children’s Investment Fund Foundation, AKO Foundation, and Zegar Family Foundation, among others.

In the coming months, Carbon Mapper will continue to scale up observations and make methane and CO2 data routinely accessible to help decision makers fill gaps in their understanding of the exact sources of emissions and empower mitigation action at the source. These routine detections will be made publicly available for non-commercial use 30 days after collection. Together, with complementary satellite programs, like the Environmental Defense Fund’s MethaneSAT, Carbon Mapper will provide transparent data at different levels of granularity and ensure that the information gets into the right hands to catalyze faster and more effective emissions reductions.

Special Note to Reporters:
More information, including plume images and key data from Tanager-1, can be found in our press package here. 

About Carbon Mapper
Carbon Mapper is a nonprofit organization based in Pasadena, CA, with the mission to drive greenhouse gas emissions reductions by making methane and carbon dioxide data accessible and actionable. It focuses on filling gaps in the emerging ecosystem of methane and CO2 monitoring systems by delivering data at facility scale that is precise, timely, and accessible to empower decision making and direct mitigation action. The organization leads a public-private coalition that is developing and deploying a constellation of satellites capable of detecting, quantifying, and verifying methane emissions worldwide. Data from these satellites will offer the next major step in scaling up the organization’s robust data portal featuring thousands of direct observations of global methane and CO2 super-emitters. Learn more at carbonmapper.org, view data at data.carbonmapper.org, and follow us on X @carbonmapper.

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SOURCE Carbon Mapper Inc.

GUANGZHOU, China, Nov. 16, 2024 /PRNewswire/ — The Sun Yat-sen University (SYSU) held the Celebration Conference for the 100th Anniversary of SYSU and Innovation-Driven Development Forum  in the university on the morning of November 12. Over 5,500 people from governments, universities, institutions and organizations across the country as well as the SYSU alumni, faculty and student representatives attended the event.

In his opening remarks, Gao Song, president of Sun Yat-sen University and a member of the Chinese Academy of Sciences, mentioned the glorious century-long history of the university.

“Sun Yat-sen University was established in a time of national crisis and went through the periods from revolution to building of the People’s Republic of China. Based in Guangdong Province, the frontline of China’s reform and opening-up, SYSU has achieved a remarkable development in the new era of socialism with Chinese characteristics,” Gao said.

SYSU will expand opening up at a high level to deepen international exchange and cooperation, and build a global partnership network of universities. The university will continue to contribute its efforts to promoting mutual learning between civilizations, tackling global challenges, advancing science and technology, reaching sustainable socio-economic development, as well as improving the wellbeing of humanity, Gao added.

Lynn Pasquerella, president of the Association of American Colleges and Universities, extended congratulations to Sun Yat-sen University and spoke highly of the achievements the university has made over the past century. She said the university’s innovative research is impressive, in particular with the frontier research in bioinformatics and cancer treatment. SYSU also takes a leading position in social science research in China. She pointed out that these accomplishments can be attributed to the unremitting efforts of the university to benefit China and the rest of the world with knowledge.

The centennial celebration conference was followed by the Innovation-Driven Development Forum. Professor Jean-Marie Lehn, the Nobel Laureate in Chemistry in 1987 and also known as the “father of supramolecular chemistry”, who is now a member of the French Academy of Sciences and an international member of the Chinese Academy of Sciences, together with other distinguished experts in sectors of image and video AI and search, cloud computing, and distributed systems as well as outstanding representatives of SYSU alumni attended the forum. They discussed the role of education, science and technology, and talents in Chinese modernization.

https://youtu.be/7y2hMQpT_kE?si=MxGOIxpSkfYn2f00

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SOURCE Sun Yat-sen University (SYSU)