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/C O R R E C T I O N — Siyata Mobile Inc./

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In the news release, Siyata Mobile Announces Second Quarter Financial Results, issued 15-Aug-2024 by Siyata Mobile Inc. over PR Newswire, we are advised by the company that the section Key financial highlights for the three months ended June 30, 2024:, first bullet point, should read “Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.” rather than “Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.” In addition the second bullet point of the same section should read “Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue…” rather than “Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue…” as originally issued inadvertently. The complete, corrected release follows:

Siyata Mobile Announces Second Quarter Financial Results

Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.
Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.
Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.
Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

 
 
 

USD

 
 

USD

 
 
 

June 30,
2024

 
 

December 31,
2023

 

Assets

 
 
 
 
 
 

Current

 
 
 
 
 
 

Cash

 
 

2,653,226

 
 
 

898,771

 

Trade And Other Receivables

 
 

1,508,799

 
 
 

1,181,257

 

Prepaid Expenses

 
 

2,244,232

 
 
 

29,673

 

Inventory

 
 

2,299,647

 
 
 

3,544,519

 

Advance To Suppliers

 
 

891,144

 
 
 

1,048,227

 
 
 
 

9,597,048

 
 
 

6,702,447

 

Long Term Receivable

 
 

142,904

 
 
 

147,100

 

Investment in Securities

 
 

1,000,000

 
 
 

 

Right Of Use Assets

 
 

500,849

 
 
 

630,793

 

Equipment

 
 

157,022

 
 
 

175,335

 

Intangible Assets

 
 

7,785,176

 
 
 

7,856,730

 

Total Assets

 
 

19,182,999

 
 
 

15,512,405

 
 
 
 
 
 
 
 
 
 

Liabilities And Shareholders’ Equity

 
 
 
 
 
 
 
 

Current

 
 
 
 
 
 
 
 

Loans to Financial Institutions

 
 

619,068

 
 
 

89,298

 

Sale of future receipts

 
 

2,152,375

 
 
 

1,467,899

 

Accounts Payable and Accrued Liabilities

 
 

4,087,199

 
 
 

3,449,103

 

Deferred Revenue

 
 

3,182

 
 
 

2,025

 

Short Term Lease Liability

 
 

243,214

 
 
 

254,668

 

Warrant Liability and Preferred Shares

 
 

10,755,482

 
 
 

156,433

 
 
 
 

17,860,520

 
 
 

5,419,426

 

Long Term Lease Liability

 
 

284,393

 
 
 

385,639

 
 
 
 

284,393

 
 
 

385,639

 

Total Liabilities

 
 

18,144,913

 
 
 

5,805,065

 

Shareholders’ Equity

 
 
 
 
 
 
 
 

Share Capital

 
 

92,565,727

 
 
 

85,714,727

 

Reserves

 
 

14,845,086

 
 
 

14,644,200

 

Accumulated Other Comprehensive Loss

 
 

98,870

 
 
 

98,870

 

Deficit

 
 

(106,471,597)

 
 
 

(90,750,457)

 
 
 
 

1,038,086

 
 
 

9,707,340

 

Total Liabilities And Shareholders’ Equity

 
 

19,182,999

 
 
 

15,512,405

 

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 
 
 
 
 
 
 
 
 
 
 
 
 
 

Revenue

 

$

1,890,968

 
 

$

2,710,717

 
 

$

4,248,847

 
 

$

4,513,354

 

Cost Of Sales

 
 

(1,694,154)

 
 
 

(1,906,227)

 
 
 

(3,188,616)

 
 
 

(3,212,347)

 

Gross Profit

 
 

196,814

 
 
 

804,490

 
 
 

1,060,231

 
 
 

1,301,007

 
 
 
 

10.4

%

 
 

29.7

%

 
 

25.0

%

 
 

28.8

%

Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Development Expenses

 
 

 
 
 

31,465

 
 
 

35,000

 
 
 

85,450

 

Selling And Marketing

 
 

954,388

 
 
 

987,803

 
 
 

2,102,406

 
 
 

1,991,168

 

Equity promotion and marketing

 
 

2,000,000

 
 
 

250,000

 
 
 

2,150,000

 
 
 

591,200

 

General And Administrative

 
 

1,033,301

 
 
 

1,503,382

 
 
 

2,071,853

 
 
 

2,554,612

 

Bad Debts (Recovered)

 
 

 
 
 

10,148

 
 
 

18,858

 
 
 

10,148

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 

Total Operating Expenses

 
 

4,504,580

 
 
 

3,497,002

 
 
 

7,416,790

 
 
 

6,659,250

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net Operating Loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Other Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Finance Expense

 
 

942,283

 
 
 

41,251

 
 
 

1,722,039

 
 
 

75,349

 

Loss on issuance

 
 

6,129,282

 
 
 

 
 
 

6,129,282

 
 
 

 

Loss on extinguishment of financial liability

 
 

601,163

 
 
 

 
 
 

601,163

 
 
 

 

Foreign Exchange

 
 

(1,706)

 
 
 

(78,762)

 
 
 

(10,651)

 
 
 

(78,599)

 

Change In Fair Value of Warrant Liability

 
 

(31,986)

 
 
 

(321,384)

 
 
 

(54,570)

 
 
 

1,856,623

 

Transaction Costs

 
 

977,318

 
 
 

 
 
 

977,318

 
 
 

 

Total Other Expenses

 
 

8,616,354

 
 
 

(358,895)

 
 
 

9,364,581

 
 
 

1,853,373

 

Net Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Comprehensive Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Weighted average shares (after 18 to 1 reverse split)

 
 

108,922

 
 
 

5,417

 
 
 

70,307

 
 
 

4,691

 

Basic and diluted loss per share

 
 

(118.65)

 
 
 

(430.78)

 
 
 

(223.61)

 
 
 

(1,537.33)

 

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 

Net operating loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 

addback

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
 

(3,790,875)

 
 
 

(1,978,308)

 
 
 

(5,317,886)

 
 
 

(3,931,571)

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/siyata-mobile-announces-second-quarter-financial-results-302224050.html

SOURCE Siyata Mobile Inc.

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/C O R R E C T I O N — Natural Resources Canada/

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In the news release, Canada Invests in Climate Change Adaptation to Keep Communities Safe in British Columbia and Across Canada, issued 14-Nov-2024 by Natural Resources Canada over PR Newswire, we are advised by the company that the 18th paragraph has been added to the release. The complete, corrected release follows:

Canada Invests in Climate Change Adaptation to Keep Communities Safe in British Columbia and Across Canada

COQUITLAM, BC, Nov. 14, 2024 /CNW/ – Working together to reduce risks from the changing climate will help keep Canadians safer and healthier. Acting now will help improve long-term resilience and reduce costs associated with the increasing frequency of extreme weather events in Canada, including higher grocery prices, insurance premiums and local taxes to cover the costs of disaster recovery and damage.

Across the country, the impacts of climate change are becoming more severe and more frequent with extreme events like floods, wildfires and heatwaves on the rise. Gradual changes, like thawing permafrost in the north and rising sea levels in coastal regions, are also affecting the safety of our communities and quality of life. To protect our communities from the worst economic and environmental impacts of climate change, we must continue to prepare for the changes that are coming by investing in community resilience. This will not only support the safety of Canadians but also reinforce the ability of communities to recover from extreme weather events.

Today, the Honourable Jonathan Wilkinson announced over $7 million in funding for 12 projects in British Columbia or with a national reach under Natural Resources Canada’s Climate Change Adaptation Program (CCAP) and the Climate-Resilient Coastal Communities (CRCC) Program. These projects will aim to help regions and sectors in B.C. and across Canada adapt to a changing climate by developing, improving and delivering strategies, tools and resources that address climate change risks and adaptation gaps, and to support the implementation of climate change adaptation and resilience actions.

The funding announced today comes from a total investment of $39.5 million for 53 projects through the CCAP and the the CRCC Program to reduce climate change risks and build more resilient communities across the country in support of the National Adaptation Strategy (NAS). Details on additional projects supported by this investment will be announced in the near future.

The steps we take now will protect our communities, our livelihoods, our environment and our economy. We are actively investing in climate change adaptation to proactively support long-term, community-led resilience and adaptation projects. It is essential, now more than ever, that we come together to help communities stay strong in the face of the current and future impacts of climate change.

Quotes

“The impacts associated with climate change, including atmospheric rivers here in British Columbia, are being felt right now. That is why this federal government is acting now to help our communities and our economy prepare and protect themselves from the threat of climate change. Today’s announcement of 12 projects based in British Columbia under two funding programs supports the vital long-term, community-based work to keep people safe now and into the future.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“Municipalities are on the front lines of climate change, and they know best what local challenges — and solutions — are affecting local neighbourhoods, transportation and businesses. The 12 projects under the CCAP and CRCC program will help build stronger, more livable communities, providing safety and security in the face of a changing climate. With smart investments, forward planning and active collaboration, we can support communities that are already feeling the impacts of climate change and help make them more sustainable and prosperous for generations to come.”

The Honourable Steven Guilbeault
Minister of Environment and Climate Change

“Climate change is impacting communities in British Columbia and across Canada. Now is the time to work together and build climate change responses that address current and future problems. By taking the necessary steps today to adapt and build resiliency, we can make more-informed decisions to prepare for and to respond and adapt to climate change impacts.”

Ron McKinnon
Member of Parliament for Coquitlam–Port Coquitlam

“Coastal flooding and rising seas are not exclusively localized issues. Coordinating between First Nations, municipalities and other authorities in the region can increase the effectiveness of coastal resilience actions and help to pool resources. Thanks to the support from the CRCC Program, our B.C. Southern Coastal Regional Climate Collaborative project will help coordinate approaches to address rising sea levels and coastal flooding and implement key regional actions to build the foundation for long-term coastal resilience outcomes across the Pacific North Shore and Sunshine Coast region.” 

Ewa Jackson
Managing Director, ICLEI Canada 

“Clean energy systems are the future — and this initiative is helping First Nations communities and local governments to push forward on micro-hydro, solar, wind and other renewables that strengthen B.C.’s power grid. Planning infrastructure to withstand severe weather and other impacts of climate change is now a key challenge in building a clean energy future, and we’re happy to help bring together local leaders and experts to meet that challenge.”

David Marshall
Chief Executive Officer, Fraser Basin Council

“Across British Columbia, small, rural and remote communities work every day with extremely limited resources to address the current and anticipated impacts of climate change, often off the side of their desk amidst many competing priorities. As a result of this funding, the CoNext Climate Preparedness Hub will provide direct support to local governments, First Nation governments and their partners to build understanding of the challenges and options for addressing climate impacts and translate this knowledge into action within their organizations and communities.”

Erica Crawford
CoNext Project Lead and Principal, HeronBridge Consulting

“Climate adaptation is a new but urgent challenge, and leading practices are just beginning to emerge. Our CRCC project funded direct conversations with Canadian practitioners to identify the challenges and opportunities they face today, and this learning will inform similar outreach in Oceania, Europe, the United States, Latin America and the Caribbean, and Asia. We look forward to bringing this snapshot of global adaptation practice today back to Canada to help drive innovation and solutions to this shared threat.” 

Dr. Glynis Lough
Global Director of PEERS and Affiliate at the Aspen Global Change Institute

“The far-reaching impacts of recent wildfires — massive emissions and disrupted communities — demand urgent action. This contribution from Natural Resources Canada will foster collaboration across sectors, First Nations and impacted communities in ways that accelerate wildfire adaptation, create jobs, enhance ecosystem resilience and increase public safety.”

Robin Prest
Program Director, Simon Fraser University’s Morris J. Wosk Centre for Dialogue

“Engineers and Geoscientists BC welcomes this investment that is intended to help protect Canadians from the risks of climate change. In collaboration with the Climate Risk Institute, we are proud to lead the development of a national climate resiliency training program for building sector professionals. Supported by Natural Resources Canada through the CCAP, the training program aims to empower engineers, and other professionals, with the skills and knowledge needed to design and retrofit buildings to help communities become more resilient to the risks associated with a changing climate.” 

Heidi Yang, P.Eng.
Chief Executive Officer, Engineers and Geoscientists BC

“The Regional District of Nanaimo is grateful for this generous grant, which we will use to develop an inclusive and collaborative coastal climate adaptation strategy in our region. This strategy will build on the critical work we are already undertaking to prepare for, and respond to, impacts we are seeing on our coast.”

Vanessa Craig
Chair, Regional District of Nanaimo

“In recent years, climate-related impacts have significantly disrupted supply chains. With this funding to develop a climate adaptation plan for the Port of Vancouver, we will work collaboratively with First Nations and stakeholders to identify key climate risks and priority actions needed to enhance port infrastructure and supply chain resiliency. This will help strengthen our position to facilitate Canada’s trade reliably, now and into the future.”

Jennifer Natland
Vice President, Properties and Environment, Vancouver Fraser Port Authority

“Nature-based solutions, like restoring wetlands and adopting green infrastructure approaches, offer powerful ways for Canadian communities to adapt to climate change while unlocking significant social, economic and environmental co-benefits. Yet a lack of understanding of the monetary benefits of these multi-solving solutions means they remain underutilized by local governments. With the support of Natural Resources Canada and our partners, ESSA and All One Sky Foundation are developing a toolkit with clear economic data and guidance to help communities confidently invest in these sustainable, cost-effective strategies to multiple local problems.”  

Jimena Eyzaguirre
Climate Change Adaptation Practice Lead, ESSA Technologies Ltd.

“In 2022, we brought together leadership and staff from First Nations and local governments and local agriculture sectors as well as federal and provincial representatives to collectively discuss what a Build Back Better, Together process would look like and to explore how we could work together more effectively in our shared landscape. This funding will support subsequent dialogues as we work toward developing a unified plan for how to maximize resilience in the Lower Mainland.” 
  
Tribal Chief Tyrone McNeil 
Chair of the Emergency Planning Secretariat 

Quick Facts

The National Adaptation Strategy (NAS) provides a whole-of-society plan focused on protecting Canadian lives and building more resilient and prosperous communities. Canada released its first NAS on June 27, 2023. Achieving the objectives of the NAS requires whole-of-society action. The Government of Canada is working with provinces, territories, Indigenous partners and the private sector to develop innovative technical, financial and operational solutions that will support adaptation action by communities across the economy.Every $1 spent on climate adaptation measures saves up to $15 in terms of the long-term costs involved in mitigating climate change and extreme weather events.Since 2015, the Government of Canada has invested more than $6.5 billion in adaptation efforts, including $2.1 billion since fall 2022 to implement the NAS and other adaptation-related activities.The CCAP will help Canada’s regions and sectors to adapt to a changing climate. More specifically, the CCAP aims to:support decision-makers in identifying and implementing adaptation actions;enhance adaptation knowledge and skills among Canada’s workforce; andincrease access to climate change adaptation tools and resources.The CRCC Program supports regional-scale pilot projects on Canada’s three marine coasts —Atlantic, Pacific and North — and in the Great Lakes–St. Lawrence region. The program aims to enhance the climate resilience of coastal communities and businesses and to accelerate adaptation to reduce climate change risks and coordinate innovative actions.

Related Product

Backgrounder: Canada Invests in Climate Change to Keep Communities Safe in British Columbia and Across Canada https://www.canada.ca/en/natural-resources-canada/news/2024/11/canada-invests-in-climate-change-adaptation-to-keep-communities-safe-in-british-columbia-and-across-canada.html

Associated Links

Climate Change Adaptation ProgramNatural Resources Canada Announces up to $15 Million to Help Communities and Businesses Adapt to a Changing ClimateClimate-Resilient Coastal Communities ProgramNational Adaptation StrategyGovernment of Canada Adaptation Action Plan

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András Szakonyi named CEO of Ferrovial’s Digital Infrastructure Division

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This division targets the high-growth data center market, building on a decade of successful projects for industry leaders

AMSTERDAM, Nov. 14, 2024 /PRNewswire/ — Ferrovial, a leading global infrastructure company, announces the appointment of András Szakonyi as CEO of Digital Infrastructure. Szakonyi brings deep sector expertise, both in data centers and sustainable AI cloud solutions. As divisional CEO, he will strengthen and expand Ferrovial’s presence in a growing sector where it has been developing projects for multinational leaders for more than 10 years in Europe and the Americas. 

“Ferrovial brings distinctive expertise in complex data center construction projects. Our proven track record of engineering excellence and value creation positions us well to expand our role as a global investor and developer of digital infrastructure. We welcome András’s leadership in driving our continued success and innovation in this strategic area,” said Ignacio Madridejos, CEO of Ferrovial.

The Digital Infrastructure Division will identify investment opportunities to develop high-value projects in this sector.  

András Szakonyi holds an MBA in Finance and Economics from Corvinus University in Budapest and is a graduate of INSEAD Business School’s LEAP (Leadership Excellence through Awareness and Practice Program).

During his extensive professional experience, he has held various international leadership positions. He started his career as a finance professional at General Electric, where he spent six years leading different finance functions in the United States. 

Afterward, he spent 21 years in multiple senior leadership roles at Iron Mountain (IRM), a global listed B2B service company based in Boston focusing on data centers and information management services. He played a key role in building Iron Mountain’s data center business in his role as global COO. 

Since 2020, he has been a member of the Supervisory Board and Audit Committee of Magyar Telekom (Subsidiary of Deutsche Telekom), a leading Hungarian information and communications technology company.

About Ferrovial

Ferrovial is one of the world’s leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 24,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of Spain’s blue-chip IBEX 35 index. It is part of the Dow Jones Sustainability Index and FTSE4Good, and all its operations are conducted in compliance with the principles of the UN Global Compact, which the Company adopted in 2002. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/andras-szakonyi-named-ceo-of-ferrovials-digital-infrastructure-division-302306252.html

SOURCE Ferrovial

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2025 Fortune Global Forum to be held in Riyadh, Saudi Arabia

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Fortune will also hold a Most Powerful Women gathering in Riyadh next year

NEW YORK, Nov. 14, 2024 /PRNewswire/ — Fortune announced that its 2025 Fortune Global Forum, the premier gathering of CEOs and other leaders of the world’s largest multinational companies, will convene in Riyadh, Saudi Arabia, next December. In the spring, Fortune will also hold in Riyadh its first-ever Fortune Most Powerful Women event in the Middle East, an extension of the annual Most Powerful Women summit in the U.S.

This marks the first time since its inception in 1995 that the Fortune Global Forum has taken place in the Saudi capital. The Forum and the MPW event are being held in partnership with the Saudi Conventions and Exhibitions General Authority.

“For 30 years, Fortune has been proud to bring the Fortune Global Forum to the frontiers of the business world,” Anastasia Nyrkovskaya, CEO of Fortune, said. “Saudi Arabia is one of those important frontiers. We look forward to connecting leaders of companies across industries from the East and West in Riyadh, an ideal location for our 2025 Fortune Global Forum.”

The Forum has historically been held in major cities at the forefront of global business, including Singapore, Barcelona, Guangzhou, New Delhi, Rome, Hong Kong, Paris, Abu Dhabi, Cape Town, and San Francisco. Earlier this week in New York City, the 2024 Fortune Global Forum included speakers such as former U.S. CIA Directors Mike Pompeo and Leon Panetta; Adena Friedman, Chair and CEO, Nasdaq; Gita Gopinath, First Managing Director, International Monetary Fund; Josh Kushner, Founder and CEO, Thrive Capital; Rob Manfred and Adam Silver, the commissioners of Major League Baseball and the National Basketball Association, respectively; John Stankey, CEO, AT&T; Boris Johnson, former Prime Minister of the United Kingdom; Brooke Shields, actor, New York Times bestselling author, and founder of Commence; H.E. Fahd bin Abdulmohsan Al-Rasheed, Advisor, General Secretariat of the Council of Ministers, and Chair, Saudi Conventions and Exhibitions General Authority; Tom Brady, seven-time world champion; and Wynton Marsalis, Pulitzer Prize-winning composer and Managing and Artistic Director of Jazz at Lincoln Center, the site of the Forum, and more.

The Fortune Global Forum fosters impactful discussions among leading executives and other top figures in business, government, and culture and offers valuable insights into international business strategies.

Fortune’s annual Most Powerful Women Summit convenes women leaders from Fortune 500 companies and trailblazers from government, philanthropy, education, sports, and the arts for inspiring conversations, collaboration, and networking. The Riyadh MPW conference will draw women globally who are making significant contributions to business and economic growth.

About Fortune:
Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world’s biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500Most Powerful Women, and World’s Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Brainstorm Tech, Fortune Most Powerful Women. For more information, visit fortune.com.

Media Contacts:
Patrick Reilly
Fortune
Patrick.Reilly@fortune.com

Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com

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SOURCE Fortune Media (USA) Corporation

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