Technology

ILLY FIRST HALF 2024 RESULTS

Published

2 months ago

July 29, 2024

ALL INDICATORS SHOW GROWTH; EBITDA INCREASES BY DOUBLE DIGITS WITH STRONG MARGIN EXPANSION; NET PROFIT DOUBLES

Consolidated revenues of €289.1 million, up 3.8% at constant exchange rates compared to the first half of 2023, driven by all major markets and distribution channels EBITDA of €46.2 million, up 26.2% compared to 2023, with an EBITDA margin of 16.0%, up 2.9 percentage points compared to the same period in 2023 Net profit of €13.6 million, doubling compared to the same period in 2023 Net financial position of €144.8 million, up 16.8% compared to June 2023

TRIESTE, Italy, July 29, 2024 /PRNewswire/ — In the first half of 2024, illycaffè’s consolidated revenues amounted to 289.1 million euros, reflecting a 3.8% increase compared to the previous year, driven by growth in all main markets.

EBITDA stood at 46.2 million euros, up 26.2% from the previous year, due to organic revenue growth and increased operating efficiency within the Group. The EBITDA margin improved to 16.0%, a 2.9 percentage point increase from 2023. Net profit reached 13.6 million euros, doubling from 6.4 million euros in the first half of 2023, thanks to enhanced operating profitability. The net financial position was 144.8 million euros, showing a 16.8% improvement compared to the previous financial year, supported by positive operating profitability trends and effective working capital management.

Cristina Scocchia, CEO of illycaffè, commented:
“We closed the first half of 2024 with double-digit growth in all profitability indicators, driven by organic, sustainable, and profitable growth across all major markets. The United States, in particular, aligned with our strategic plan, significantly contributed to revenue expansion, with both home and out-of-home segments recording year-over-year increases. Despite the complex macroeconomic environment and ongoing volatility and upward trends in raw material prices, our results allow us to confidently approach the second half of the year and continue our investments in sustainable innovation and increased production capacity.”

All major markets showed growth in the first half of 2024 compared to 2023. The United States recorded a strong revenue increase of 11%, primarily supported by the Ho.Re.Ca. and e-commerce channels. All European markets also expanded compared to 2023, particularly Italy (+5%) and Spain (+21%).

From a channel perspective, growth was mainly driven by Ho.Re.Ca., supported by a positive rate of new customer acquisitions in the premium segment, Modern Trade through continuous distribution expansion, and e-commerce, bolstered by the recent launch of a new e-shop.

Based on the performance in the first half of 2024, illycaffè expects to continue growing revenues and profitability in the second half of the year, despite the ongoing complexity of the macroeconomic and geopolitical context.

About illycaffè
illycaffè is an Italian family business, founded in Trieste in 1933 and committed to offering the greatest coffee to the world. It produces the unique illy 100% Arabica blend made of 9 of the world’s best selections of Arabica, with a constant eye towards innovation. The bestowing of the first “Ernesto Illy Award for quality espresso coffee” in 1991 in Brazil and the “Ernesto Illy International Coffee Award” in 2016 symbolize its commitment to coffee growers, to whom illy pays a premium price for quality coffee. In 2019 it adopted Società Benefit status under Italian law, and in 2021 it became the first Italian coffee company to obtain B Corp international certification thanks to its commitment to abiding by the highest environmental and social performance standards. The company, which is present in over 140 countries, recorded consolidated revenues of €595.1 million in 2023.

Contact: illy@magrinopr.com

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Technology

MOAJ Holding invests $30M in Joint Venture with MediSun Energy to Tackle Water Scarcity and Brine Challenges in Saudi Arabia

Published

1 min ago

September 30, 2024

SINGAPORE, Sept. 30, 2024 /PRNewswire/ — MediSun Energy and MOAJ Holding are pleased to announce the formation of MediSun Arabia, a joint venture designed to drive innovative energy solutions and tackle water scarcity in Saudi Arabia. As part of this strategic partnership, MOAJ Holding will invest USD 30 million to establish a cutting-edge manufacturing facility and co-develop a Saudi Brine Management Program with MediSun Energy.

The venture will include the construction of a manufacturing hub to produce MediSun’s WEGen stacks, critical components supporting renewable energy projects across the region. This facility will boost local industrial capabilities and play a central role in Saudi Arabia’s renewable energy transition, aligning with Saudi Vision 2030. Additionally, MOAJ Holding will be the exclusive distributor of MediSun Energy’s technologies throughout the Gulf Cooperation Council (GCC), expanding MediSun’s footprint in the Middle East.

Together, the partners will spearhead the Saudi Brine Management Program in collaboration with a leading academic institution renowned for its desalination research. This ambitious R&D initiative aims to address the environmental challenges of desalination brine by developing cutting-edge treatment technologies aligned with Saudi Arabia’s sustainability goals.

Dusun Kim, CEO of MediSun Energy, commented, “This joint venture marks a significant milestone for MediSun Energy as we expand operations in Saudi Arabia. Our WEGen technology, which harnesses Reverse Electrodialysis (RED) to efficiently convert saltwater into electricity, will play a key role in advancing Saudi Arabia’s sustainability targets by generating clean energy and reducing consumption. With MOAJ as our partner in the GCC, we look forward to a long-term partnership that drives meaningful impact.”

HE Mohammed N. Al Jasser, Founder of MOAJ Holding, added, “We are excited to partner with MediSun Energy in this transformative joint venture. Our shared vision for advancing sustainable energy and water management in Saudi Arabia highlights the significance of this collaboration. MediSun’s WEGen technology, which enhances energy efficiency while producing clean power, is aligned with the region’s sustainability goals. Together, we are dedicated to delivering these innovative solutions to the broader Middle East market.”

This joint venture positions both MOAJ and MediSun as key players in addressing the region’s water and energy challenges, aligned with Saudi Arabia’s Vision 2030 for a sustainable future.

About MediSun Energy

MediSun Energy is a technology-driven company focused on providing innovative, clean energy solutions. Its flagship WEGen technology leverages osmotic power to enhance energy efficiency in water desalination and renewable energy generation. Committed to a net-carbon neutral future, MediSun delivers sustainable, practical solutions that align with the global vision for a greener planet.

About MOAJ Holding

MOAJ Holding is a leading investment group with a focus on sustainable development across key sectors including energy, technology, and infrastructure. In line with Saudi Arabia’s Vision 2030, MOAJ invests in transformative projects that promote economic diversification and environmental sustainability.

For more information, visit www.medisun.energy or write to info@medisun.energy. You can also follow MediSun on LinkedIn.

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SOURCE MediSun Energy

Technology

Casio to Release New Analog G-SHOCK with Octagonal Bezel and Chronograph Dial

Published

1 min ago

September 30, 2024

Full-Metal Model in the Slim and Popular 2100 Style

TOKYO, Sept. 30, 2024 /PRNewswire/ — Casio Computer Co., Ltd., announced today the release of the latest addition to the G-SHOCK family of shock-resistant watches. The new analog full-metal GMC-B2100 is a chronograph timepiece in the 2100 Style, which is known for its iconic octagonal bezel.

With the 2019 release of the first 2100 Style watch — the GA-2100 digital-analog combination model — Casio presented a contemporary interpretation of the very first G-SHOCK. Known for its distinctive octagonal bezel and slim, stylish design, the 2100 Style has been proven popular around the world.

The new GMC-B2100 is a shock-resistant watch that boasts a full-metal octagonal bezel and three functional inset dials, for a bold, fully analog face design.

For this chronograph model with metal exterior and analog face, the band and the bezel’s top surface feature a refined hairline treatment, while the subtly sloped bezel sides have been given a beautifully polished mirror finish. The indexes and inset dials are crafted using intricate fine processing technologies and finished with vapor deposition, not only delivering a high-quality texture but also ensuring excellent readability. The iconic octagonal design motif of the 2100 Style is incorporated into the inset dial ring in the 9 o’clock position as well as the screw-down crown, adding a powerful sense of presence to the full-metal form of the watch.

The new watch delivers practical utility, as well. The GMC-B2100 comes with the Tough Solar charging system, which effectively converts light from the sun and indoor light sources to power the watch, eliminating the need to regularly replace the battery. It is also equipped with the Mobile Link feature* for accurate timekeeping display and easy setting of alarms, world time and other functions when paired with a smartphone via Bluetooth®.

* Requires downloading the dedicated CASIO WATCHES app.

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Technology

Why Are Multinational Corporations Confident of Chinese Market?

Published

1 min ago

September 30, 2024

BEIJING, Sept. 30, 2024 /PRNewswire/ — Finding Answers in China from China.org.cn:

As global economic uncertainties linger, multinational corporations are eyeing promising opportunities in China. What makes China a magnet for these companies? How are they adapting to the fast-paced changes in the market? In today’s episode of “Finding Answers in China“, Yoon Doson, CEO of CJ China, tells why he remains confident of the future in China.

Why Are Multinational Corporations Confident of Chinese Market?
https://youtu.be/AEv0m0avnGY

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SOURCE China.org.cn