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FXStreet - The Foreign Exchange Market

07.04.2025

Switzerland Foreign Currency Reserves fell from previous 753B to 726B in March

Mettis Global News

16.04.2025

Foreign currency deposits increase $66m in Mar - Mettis Global Link

Foreign currency deposits rose $66m or 0.98% to $6.81 billion as of March 2025 comapred to last month...

ForexTV

26.04.2025

Paul Mueller Company Announces Its First Quarter Earnings of 2025 - ForexTV

SPRINGFIELD, Mo., April 25, 2025 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC: MUEL) today announced earnings for the first quarter ended March 31, 2025. PAUL MUELLER COMPANY THREE-MONTH REPORT (In thousands) CONSOLIDATED STATEMENTS OF INCOME Three Months Ended Twelve Months Ended March 31 March 31 2025 2024 2025 2024 Net Sales $58,860 $50,356 $257,089 $223,161 Cost of Sales 41,038 34,560 172,602 153,631 Gross Profit $17,822 $15,796 $84,487 $69,530 Selling, General and Administrative Expense 11,533 10,358 47,423 86,040 Operating Income (Loss) $6,289 $5,438 $37,064 $(16,510) Interest Income (Expense) 29 (1,248) 976 (1,501) Other Income 64 1,544 897 3,491 Income (Loss) before Provision (Benefit) for Income Taxes $6,382 $5,734 $38,937 $(14,520) Provision (Benefit) for Income Taxes 1,454 1,285 8,786 (5,413) Net Income (Loss) $4,928 $4,449 $30,151 $(9,107) Earnings (Loss) per Common Share –– Basic and Diluted $5.26 $4.10 $32.18 ($8.39) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended March 31 2025 2024 Net Income $4,928 $4,449 Other Comprehensive Income (Loss), Net of Tax: Foreign Currency Translation Adjustment 875 (239) Comprehensive Income $5,803 $4,210 CONSOLIDATED BALANCE SHEETS March 31 December 31 2025 2024 Cash and Cash Equivalents $21,674 $21,169 Marketable Securities 33,634 24,446 Accounts Receivable, net 21,551 31,266 Inventories (FIFO) 47,587 40,905 LIFO Reserve (21,529) (20,146) Inventories (LIFO) 26,058 20,759 Current Net Investments in Sales-Type Leases 44 39 Other Current Assets 6,766 4,933 Current Assets $109,727 $102,612 Net Property, Plant, and Equipment 54,713 50,754 Right of Use Assets 2,213 2,235 Other Assets 1,411 1,862 Long-Term Net Investments in Sales-Type Leases 1,494 1,211 Total Assets $169,558 $158,674 Accounts Payable $13,037 $17,588 Current Maturities and Short-Term debt 432 3,466 Current Lease Liabilities 350 336 Advance Billings 34,136 26,788 Other Current Liabilities 30,281 23,226 Current Liabilities $78,236 $71,404 Long-Term Debt 5,184 5,096 Other Long-Term Liabilities 628 2,329 Lease Liabilities 973 896 Total Liabilities $85,021 $79,725 Shareholders' Investment 84,537 78,949 Total Liabilities and Shareholders' Investment $169,558 $158,674 SELECTED FINANCIAL DATA March 31 December 31 2025 2024 Book Value per Common Share $90.24 $84.27 Total Shares Outstanding 936,837 936,837 Backlog $254,516 $153,685 CONSOLIDATED STATEMENT OF SHAREHOLDERS' INVESTMENT Common Stock Paid-in Surplus Retained Earnings Treasury Stock Accumulated Other Comprehensive Income (Loss) Total Balance, December 31, 2024 $1,508 $9,708 $96,037 $(22,697) $(5,607) $78,949 Add (Deduct): Net Income 4,928 4,928 Other Comprehensive (Loss) Net of Tax 875 875 Dividends, $.23 per Common Share (215) (215) Other - Balance, March 31, 2025 $1,508 $9,708 $100,750 $(22,697) $(4,732) $84,537 CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Operating Activities: Net Income $4,928 $4,449 Adjustment to Reconcile Net Income to Net Cash Provided by Operating Activities: Pension Contributions (Greater) Less than Expense - (8) Depreciation & Amortization 1,557 1,736 Loss (Gain) on Disposal of Equipment 197 18 Change in Assets and Liabilities Dec (Inc) in Accts and Notes Receivable 9,716 (42) (Inc) in Cost in Excess of Estimated Earnings and Billings (73) (35) (Inc) in Inventories (5,000) (1,901) (Inc) in Prepayments (2,048) (3,772) (Inc) in Net Investment in Sales-Type Leases (288) (25) Dec in Other Assets 556 469 Dec in Deferred Taxes 288 - (Dec) Inc in Accounts Payable (4,550) 952 Inc in Accrued Income Tax 1,454 1,501 Inc (Dec) in Accrued Expenses 2,554 (654) Inc in Advanced Billings 7,348 6,051 Inc (Dec) in Billings in Excess of Costs and Estimated Earnings 3,079 (1,730) Inc in Lease Liability for Operating - 24 Principal payments on Lease Liability for Operating (71) (41) (Dec) in Long Term Liabilities (1,774) (12) (Dec) in Long Term Deferred Tax Liabilities - (82) Net Cash Provided by Operating Activities $17,873 $6,898 Investing Activities Proceeds from Sales of Equipment - 15 Purchases of Marketable Securities (10,452) (12,221) Proceeds from Sales of Marketable Securities 1,264 12,575 Additions to Property, Plant, and Equipment (4,957) (3,064) Net Cash (Required) for Investing Activities $(14,145) $(2,695) Financing Activities Principal payments on Lease Liability for Financing (26) (52) Proceeds from Short-Term Borrowings 2,136 277 (Repayment) of Short-Term Borrowings (5,186) (277) (Repayment) of Long-Term Debt (334) (158) Dividends paid (215) (163) Net Cash (Required) for Financing Activities $(3,625) $(373) Effect of Exchange Rate Changes 402 (69) Net Increase in Cash $505 $3,761 Cash at Beginning of Year 21,169 1,883 Cash at End of Quarter $21,674 $5,644 PAUL MUELLER COMPANYSUMMARIZED NOTES TO THE FINANCIAL STATEMENTS(In thousands) A. The chart below depicts the net revenue on a consolidating basis for the three months ended March 31. Three Months Ended March 31Revenue 2025 2024 Domestic$50,077$38,877 Mueller BV$8,783$11,825 Eliminations$-$(346)Net Revenue$58,860$50,356 The chart below depicts the net revenue on a consolidating basis for the twelve months ended March 31. Twelve Months Ended March 31Revenue 2025 2024 Domestic$213,382 $176,298 Mueller BV$44,916 $48,231 Eliminations$(1,209)$(1,368)Net Revenue$257,089 $223,161 The chart below depicts the net income (loss) on a consolidating basis for the three months ended March 31. Three Months Ended March 31Net Income 2025 2024Domestic$5,428 $4,048Mueller BV$(494)$374Eliminations$(6)$27Net Income$4,928 $4,449 The chart below depicts the net income on a consolidating basis for the twelve months ended March 31. Twelve Months Ended March 31Net Income 2025 2024 Domestic$29,714 $(11,730)Mueller BV$468 $2,621 Eliminations$(31)$2 Net Income (Loss)$30,151 $(9,107) B. March 31, 2025 backlog is $254.5 million compared to $95.2 million at March 31, 2024. The majority of this backlog is in the U.S. where the backlog is $247.7 million at March 31, 2025 compared to $87.8 million at March 31, 2024. The $159.3 million increase in U.S. backlog is primarily from the Industrial Equipment segment which accepted approximately $120 million in purchase orders in March 2025 to be completed through the end of 2026. In the Netherlands, the backlog is relatively flat -- $7.5 million at March 31, 2025 versus $7.9 million on March 31, 2024. C. Revenue is up from the previous year by $8.5 million on a three-month basis and up $33.9 million for the trailing twelve months. Operations in the U.S. are up $11.2 million for the three months and $37.1 million for the twelve months with the increases primarily from the Industrial Equipment segment. In the Netherlands, revenues are down slightly over $3 million on a three-month and twelve-month basis, primarily from the Benelux where environmental regulations continue to be uncertain. Net Income is up $0.5 million on a three-month and up $39.3 million on a twelve-month basis before removing the pension settlement charges. In the Netherlands, earnings are down $0.9 million for three months and $2.2 million over twelve months on lower revenues. We manage our business in the U.S. looking at earnings before tax (EBT) and excluding the effects of LIFO and non-reoccurring events such as the pension settlement. This non-GAAP adjusted EBT (as shown in the table below) is up $3.4 million for the three months and up $13.2 million for the trailing twelve months primarily from strong results in the Industrial Equipment segment. Three Months Ended March 31 Twelve Months Ended March 31(In Thousands) 2025 2024 2025 2024 Domestic Net Income$5,428$4,048 $29,715 $(11,730)Income Tax Expense$1,628$1,171 $8,609 $(4,991)Domestic EBT - GAAP$7,056$5,219 $38,324 $(16,721)LIFO Adjustment$1,383$(217) $(28)$51 Pension Adjustment$-$- $- $41,774 Domestic EBT - Non-GAAP$8,439$5,002 $38,296 $25,104 D. Effective March 26, 2025, the Company extended its domestic bank borrowing facility until March 31, 2026.E. On March 28, 2025, the Company paid off the amortizing note secured by domestic land, building, and equipment in the amount of $3,019,000.F. On March 31, 2025, the Board of Directors authorized a tender offer effective from March 31, 2025, through May 7, 2025, for up to $15 million of the Company’s common stock at a price of $250 per share. G. On April 15, 2025, the Company announced the second phase of the expansion to the Components Products facility. This $17.9 million expansion adds 20,000 square feet to increase the capacity for producing tank heads, cones, and shells. It will also allow the production of thicker materials to access new markets. H. The consolidated financials are affected by the euro to dollar exchange rate when consolidating Mueller B.V., the Dutch subsidiary. The month-end euro to dollar exchange rate was 1.08 for March 2024, 1.04 for December 2024, and 1.08 for March 2025, respectively. This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including, but not limited to, the factors described in the Company’s Annual Report under “Safe Harbor for Forward-Looking Statements”, which is available at paulmueller.com. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances. The accounting policies related to this report and additional management discussion and analysis are provided in the 2024 annual report, available at www.paulmueller.com. Press Contact: Ken Jeffries | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9346 kjeffries@paulmueller.com | https://paulmueller.com

ForexTV

30.04.2025

NIP Group Inc. Reports Second Half and Full Year 2024 Unaudited Financial Results - ForexTV

Event Production Net Revenues Up 92.6% YoY to US$14.6M in the Second Half of 2024Integrated Digital Entertainment Ecosystem Sets the Stage for Revenue Diversification and Growth ABU DHABI, United Arab Emirates, April 30, 2025 (GLOBE NEWSWIRE) -- NIP Group Inc. (“NIPG” or the “Company”) (NASDAQ: NIPG), a leading digital entertainment company, today announced its unaudited financial results for the second half and full year of 2024. Second Half of 2024 Financial and Operational Highlights Total net revenues for the second half of 2024 increased by 1.8% year-over-year to US$45.9 million, led by a 92.6% year-over-year increase in net revenues from event production.Gross profit for the second half of 2024 was US$0.6 million, compared with US$4.9 million in the same period of 2023.Net loss for the second half of 2024 was US$8.0 million, compared with net loss of US$2.0 million in the same period of 2023.Adjusted EBITDA for the second half of 2024 was negative US$7.3 million, compared with US$1.0 million in the same period of 2023. Full Year of 2024 Financial and Operational Highlights Total net revenues for the full year of 2024 increased by 1.9% year-over-year to US$85.3 million, led by a 147.5% year-over-year increase in net revenues from event production.Gross profit for the full year of 2024 was US$3.0 million, compared with US$7.2 million in 2023.Net loss for the full year of 2024 was US$12.7 million, compared with net loss of US$13.3 million in 2023.Adjusted EBITDA for the full year of 2024 was negative US$9.9 million, compared with negative US$1.7 million in 2023. Business Updates Expanded our esports portfolio through a strategic partnership with The9 Limited in November 2024 to transform “MIR M” into a competitive global esports title.Entered the MOBA game publishing market with the open beta launch of our first sci‑fi title, “Re: Aetatis,” in December 2024.Secured a five-year landmark agreement with the Abu Dhabi Investment Office in January 2025 to establish the Company’s consolidated global headquarters in Abu Dhabi.Formed a strategic collaboration with Optics Valley Traffic Company in February 2025 to co‑develop a cutting‑edge digital entertainment hub beneath Wuhan East Railway Station.Renewed our partnership with Red Bull in March 2025 to drive new content creation, fan engagement, and operational stability across our Ninjas in Pyjamas teams.Joined the Esports World Cup Foundation Club Partner Program in March 2025, securing funding and global exposure ahead of EWC 2025. Mario Ho, Chairman and Co-CEO of NIP Group, commented, "2024 tested the entire industry. Despite this challenging backdrop, we maintained modest top‑line growth in the second half and for the full year, highlighting the resilience of our model. As we continue to integrate our businesses and diversify our revenue streams, event production has become a compelling growth engine, with revenues surging 92.6% year-over-year in the second half of the year and more than doubling for the full year. We are transitioning from a pure esports organization into a fully integrated gaming‑centric digital entertainment platform. Looking ahead, we plan to expand our three core businesses, while also introducing new games and entering the hospitality market, opening our first S-tier integrated gaming entertainment complex. With our growth initiatives in place, including our expansion in the Middle East with new strategic funding from ADIO, the Guangxi government, and the Esports World Cup Foundation, we are well positioned to drive sustainable growth in 2025 and beyond." Hicham Chahine, Co-CEO of NIP Group, commented, "Our entry into the Middle East is central to our geographic expansion and revenue diversification strategy, marking a once‑in‑a‑generation opportunity for gaming and esports. We now have global headquarters in Abu Dhabi and a landmark partnership with the Abu Dhabi Investment Office that will accelerate our growth across our gaming ecosystem. Separately, we are receiving valuable support from the Abu Dhabi Department of Culture and Tourism, including payroll subsidies as well as subsidized office and production facilities. By anchoring our strategic initiatives in Abu Dhabi, we are tapping into a vibrant, youthful market that is quickly emerging as the newest global gaming hub. With resources on the ground and our years of experience, we can empower local talent, foster grassroots ecosystems, and continue expanding our integrated platform that now spans esports teams, arenas & events, content & influencer networks, game publishing and hospitality. With our robust base in Abu Dhabi, we are laying the foundation for harnessing growth opportunities on a global stage. I'm confident that this region will drive our next wave of growth and cement NIP Group’s position as a global leader in digital entertainment.” Ben Li, CFO of NIP Group, added, "In the second half of 2024, our revenues reached US$45.9 million despite headwinds in esports sponsorships and advertising that impacted both our top line and margins. Our Talent Management arm remained largely stable while our Event Production segment continued to accelerate. We also incurred higher expenses during the period associated with our IPO and our entry into the game publishing space. Moving forward, these initiatives will support our strategic growth with a more diverse revenue mix and more integrated operations, combined with strategic funding partnerships that strengthen our foundation. We remain focused on generating long‑term shareholder value.” Second Half of 2024 Financial Results Total net revenues Total net revenues were US$45.9 million for the second half of 2024, a year-over-year increase of 1.8% from US$45.1 million in the same period of 2023. The following table sets forth a breakdown of the Company’s net revenues by business segments for the period indicated. For the Six Months Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Net revenues: Esports teams operation　11,80726.2 5,93712.9Talent management service 25,71457.0 25,37555.3Event production 7,58416.8 14,61031.8Total 45,105 100.0 　 45,922 100.0 Esports teams operation. Net revenues from esports teams operation during the second half of 2024 were US$5.9 million, representing a change of 49.7% from US$11.8 million in the same period of 2023. This change was primarily due to a decrease in sponsorships and advertising revenue, primarily related to the promotion budget adjustment of customers.Talent management service. Net revenues from talent management services were US$25.4 million during the second half of 2024, representing a change of 1.3% from US$25.7 million in the same period of 2023, reflecting the transitory impact of the Company’s migration from low-performance to high-performance online entertainment platforms.Event production. Net revenues from event production increased by 92.6% to US$14.6 million in the second half of 2024, from US$7.6 million in the same period of 2023. The increase was primarily driven by the Company hosting a higher number of events in 2024, due to improved integration of internal and external resources during the period. Cost of revenues Cost of revenues for the second half of 2024 was US$45.3 million, compared to US$40.2 million in the same period of 2023. The following table sets forth a breakdown of the Company’s cost of revenues by business segments for the periods indicated. For the Six Months Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Cost of revenues: Esports teams operation　7,70519.2 6,17413.6Talent management service 26,05164.8 25,94057.3Event production 6,44416.0 13,16129.1Total 40,200 100.0 　 45,275 100.0 Esports teams operation. Cost of revenues from esports teams operation for the second half of 2024 decreased by 19.9% to US$6.2 million, from US$7.7 million in the same period of 2023. The decline was primarily driven by a decrease in IP licensing fees paid to athletes under Ninjas in Pyjamas.Talent management service. Cost of revenues from talent management service for the second half of 2024 decreased by 0.4% to US$25.9 million, from US$26.1 million in the same period of 2023. The decrease was mainly due to the decline in livestreaming service fees paid to online entertainers.Event production. Cost of revenues from event production for the second half of 2024 increased by 104.2% to US$13.2 million from US$6.4 million in the same period of 2023. The increase reflects the increase in revenues recognized from the Company’s event production business. Gross profit Gross profit for the second half of 2024 was US$0.6 million, compared with US$4.9 million in the same period of 2023. Gross margin for the second half of 2024 was 1.4%, compared with 10.9% in the same period of 2023. The decrease in gross profit margin was mainly attributable to the decline in esports teams operation revenues. Esports teams operation. Gross loss from esports teams was US$0.2 million in the second half of 2024, compared with gross profit of US$4.1 million in the same period of 2023. Gross margin decreased to negative 4.0% in the second half of 2024 from 34.7% in the same period of 2023, primarily due to decreased revenue from sponsorships and advertising revenue together with IP licensing revenue.Talent management service. Gross loss from talent management service changed to US$0.6 million in the second half of 2024 from US$0.3 million in the same period of 2023. Gross margin was negative 2.2% in the second half of 2024, compared with negative 1.3% in the same period of 2023, primarily due to lower revenue coupled with relatively fixed talent amortization cost.Event production. Gross profit from event production increased to US$1.4 million in the second half of 2024, from US$1.1 million in the same period of 2023. Gross profit margin declined to 9.9% in the second half of 2024 from 15.0% in the same period of 2023, mainly due to new large-scale music events hosted by the Company in the second half of 2024 with lower average margins compared with the same period of the prior year. Selling and Marketing Expenses Selling and marketing expenses for the second half of 2024 were US$5.3 million, representing an increase of 92.7% from US$2.8 million in the same period of 2023. This was mainly attributable to an increase in marketing and promotion expenses for the game publishing business. General and Administrative ExpensesGeneral and administrative expenses for the second half of 2024 increased by 58.2% to US$7.1 million, from US$4.5 million in the same period of 2023. The increase was primarily due to an increase in professional service fees in relation to the initial public offering. Other income for the second half of 2024 was US$2.3 million, compared with other loss of US$0.03 million in the same period of 2023. The increase was primarily due to a one-off waiver of tournament league seat fee of US$0.9 million. Net loss for the second half of 2024 was US$8.0 million, compared with net loss of US$2.0 million in the same period of 2023. Adjusted EBITDA, which is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expenses and change in fair value of acquisition contingent consideration, was negative US$7.3 million for the second half of 2024, compared with US$1.0 million in the same period of 2023. Full Year of 2024 Financial Results Total net revenues Total net revenues were US$85.3 million for the full year of 2024, a year-over-year increase of 1.9% from US$83.7 million in 2023. The following table sets forth a breakdown of the Company’s net revenues by business segments for the period indicated. For the Year Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Net revenues: Esports teams operation　21,65625.9 14,71617.3Talent management service 52,61162.9 47,27855.4Event production 9,40111.2 23,27227.3Total 83,668 100.0 　 85,266 100.0 Esports teams operation. Net revenues from esports teams operation during the full year of 2024 were US$14.7 million, representing a change of 32.0% from US$21.7 million in 2023. This change was primarily due to a decrease in sponsorships and advertising revenue, primarily related to the promotion budget adjustment of customers. The change also reflects the transitory impact of the Company's shift from IP licensing revenue related to PC and Console games to league revenue share from mobile games.Talent management service. Net revenues from talent management services were US$47.3 million during the full year of 2024, representing a change of 10.1% from US$52.6 million in 2023, reflecting the transitory impact of the Company’s migration from low-performance to high-performance online entertainment platforms.Event production. Net revenues from event production increased by 147.5% to US$23.3 million in the full year of 2024, from US$9.4 million in 2023. The increase was primarily driven by the Company hosting a higher number of events in 2024, due to improved integration of internal and external resources during the period. Cost of revenues Cost of revenues for the full year of 2024 was US$82.3 million, compared to US$76.5 million in 2023. The following table sets forth a breakdown of the Company’s cost of revenues by business segments for the periods indicated. For the Year Ended December 31, 2023 2024 US$% US$% (US$ in thousands, except for %)Cost of revenues: Esports teams operation　15,03719.7 12,19314.8Talent management service 53,43869.8 49,14459.7Event production 7,99510.5 20,91925.5Total 76,470 100.0 　 82,256 100.0 Esports teams operation. Cost of revenues from esports teams operation for the full year of 2024 decreased by 18.9% to US$12.2 million, from US$15.0 million in 2023. The decline was primarily driven by a decrease in IP licensing fees paid to athletes under Ninjas in Pyjamas.Talent management service. Cost of revenues from talent management service for the full year of 2024 decreased by 8.0% to US$49.1 million, from US$53.4 million in 2023. The decrease was mainly due to the decline in livestreaming service fees paid to online entertainers.Event production. Cost of revenues from event production for the full year of 2024 increased by 161.7% to US$20.9 million from US$8.0 million in 2023. The increase reflects the increase in revenues recognized from the Company’s event production business. Gross profit Gross profit for the full year of 2024 was US$3.0 million, compared with US$7.2 million in 2023. Gross margin for the full year of 2024 was 3.5%, compared with 8.6% in 2023. The decrease in gross profit margin was mainly attributable to decline in esports teams operation revenues. Esports teams operation. Gross profit from esports teams operation was US$2.5 million in the full year of 2024, compared with US$6.6 million in 2023. Gross margin decreased to 17.1% in the full year of 2024 from 30.6% in 2023, primarily due to decreased revenue from sponsorships and advertising revenue together with IP licensing revenue.Talent management service. Gross loss from talent management service changed to US$1.9 million in the full year of 2024 from US$0.8 million in 2023. Gross margin was negative 3.9% in the full year of 2024, compared with negative 1.6% in 2023, primarily due to lower revenue coupled with relatively fixed talent amortization cost.Event production. Gross profit from event production increased to US$2.4 million in the full year of 2024, from US$1.4 million in 2023. Gross margin was 10.1% in the full year of 2024, compared with 15.0% in 2023, mainly due to new large-scale music events hosted by the Company in 2024 with lower average margins compared with 2023. Selling and Marketing Expenses Selling and marketing expenses for the full year of 2024 were US$8.1 million, representing an increase of 23.6% from US$6.6 million in 2023. This was mainly attributable to an increase in marketing and promotion expenses for the game publishing business. General and Administrative ExpensesGeneral and administrative expenses for the full year of 2024 decreased by 22.9% to US$11.8 million, from US$15.3 million in 2023. The decrease was primarily due to a decline in share-based compensation expenses, as the shares under the Company’s share incentive plans were fully vested in the first half of 2023. Other income for the full year of 2024 was US$1.8 million, compared with other income of US$0.2 million in 2023. The increase was primarily due to a one-off waiver of tournament league seat fee of US$0.9 million. Net loss for the full year of 2024 was US$12.7 million, compared with a net loss of US$13.3 million in 2023. Adjusted EBITDA, which is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expenses and change in fair value of acquisition contingent consideration, was negative US$9.9 million for the full year of 2024, compared with negative US$1.7 million in 2023. Cash and cash equivalentsAs of December 31, 2024, the Company had cash and cash equivalents of US$9.6 million, compared with US$7.6 million as of December 31, 2023. Use of Non-GAAP Financial Measures Adjusted EBITDA is calculated as net loss excluding interest expense, net, income tax (benefit) expense, depreciation and amortization, share-based compensation expense and change in fair value of acquisition contingent consideration. The non-GAAP financial measure is presented to enhance investors’ overall understanding of financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to the most directly comparable GAAP financial measure. As non-GAAP financial measure has material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure as a substitute for, or superior to, such metrics prepared in accordance with GAAP. The following table sets forth a breakdown of non-GAAP financial measures of the company for the periods indicated. For the Six Months Ended December 31, 2023 2024　 US$ US$　 (US$ in thousands, except for %)Net loss (1,987) (8,020)Add: Interest expense, net 305 197 Income tax benefits (383) (1,439)Depreciation and amortization(1) 3,217 2,350 Share-based compensation expense (135) - Change in fair value of acquisition contingent consideration - (394)Adjusted EBITDA 1,017 (7,306)Adjusted EBITDA margin(2) 2.3 (15.9) For the Year Ended December 31, 2023 2024　 US$ US$　 (US$ in thousands, except for %)Net loss (13,258) (12,685)Add: Interest expense, net 523 537 Income tax benefits (1,201) (2,370)Depreciation and amortization(1) 6,083 5,048 Share-based compensation expense 6,122 - Change in fair value of acquisition contingent consideration - (394)Adjusted EBITDA (1,731) (9,864)Adjusted EBITDA margin(2) (2.1) (11.6) Notes:(1) Primarily consists of depreciation related to property and equipment, as well as amortization related to intangible assets (2) Adjusted EBITDA as a percentage of revenues. Exchange Rate Information The functional currency of the company’s PRC subsidiaries is RMB, which is the local currency used by the subsidiaries to determine financial position and operation result. The functional currency of Ninjas in Pyjamas is SEK, which is the local currency used by the subsidiary to determine financial position and operation result. The Group’s financial statements are reported using U.S. Dollars (“$”). The results of operations and the consolidated statements of cash flows denominated in functional currency is translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in functional currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity (deficit). Gains or losses from foreign currency transactions are included in the results of operations. The following table outlines the currency exchange rates published by the Federal Reserve Board were used in unaudited condensed consolidated financial statements: As of December 31, 2023 December 31, 2024Balance sheet items, except for equity accounts RMB against $ 7.0999 7.2993SEK against $ 10.0506 11.0676 For the Six Months Ended December 31, 2023 2024Items in the statements of operation and comprehensive loss, and statements of cash flows RMB against $ 7.2077 7.1800SEK against $ 10.7494 10.6731 Recent Developments On November 26, 2024, NIP Group Inc. announced a strategic partnership with The9 Limited and its subsidiary China Crown Technology to develop “MIR M” into a global esports title. The collaboration covers in-game esports integration, tournament system development, and synchronized marketing, enabling NIPG to leverage its event production and social media strengths while diversifying its publishing pipeline.On December 20, 2024, NIP Group Inc. entered the MOBA game publishing market with the open beta launch of its sci-fi title “Re: Aetatis,” strengthening NIPG’s ecosystem and diversifying revenue streams.On January 21, 2025, NIP Group Inc. secured a five-year landmark agreement with the Abu Dhabi Investment Office to establish its consolidated global headquarters in Abu Dhabi. Backed by up to US$40 million in incentives over four years, this move accelerates its regional expansion.On February 11, 2025, NIP Group Inc. formed a strategic partnership with Optics Valley Traffic Company to co-develop a “4+N” digital entertainment hub beneath Wuhan East Railway Station. The project, anchored by live-stream facilities, influencer districts, esports training centers, and IP-based tournaments, cements Wuhan as a national esports innovation center and deepens NIPG’s footprint in central China.On March 12, 2025, NIP Group Inc.’s subsidiary Ninjas in Pyjamas renewed its partnership with Red Bull, integrating branded content, behind-the-scenes access, and joint activations such as the CS Summit, to enhance fan engagement, fortify brand equity, and stabilize recurring sponsorship revenues across its global esports teams.On March 17, 2025, NIP Group Inc. announced its inclusion in the Esports World Cup Foundation Club Partner Program, securing funding and elite-level exposure ahead of EWC 2025. This partnership enables NIP.eStar to field multiple rosters, leveraging NIPG’s combined legacy in PC, console, and mobile esports, and extends its global competitive reach into new markets. Conference Call The Company’s management team will hold a conference call at 7:00 A.M. U.S. Eastern Time on Wednesday, April 30, 2025 (3:00 P.M. Abu Dhabi Time on the same day) to discuss the financial results. Details for the conference call are as follows: Event Title:NIP Group Inc. Second Half and Full Year 2024 Earnings CallRegistration Link:https://register-conf.media-server.com/register/BIe5577432f0464227a33354d4e0532885 All participants must use the link provided above to complete the online registration process prior to the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call. A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.nipgroup.gg/. About NIP Group NIP Group (NASDAQ: NIPG) is a global digital entertainment company driving the evolution of gaming and esports. With a diversified ecosystem spanning esports teams, arenas and events, content and influencer networks, game publishing, and hospitality, we engage hundreds of millions of fans and create immersive entertainment experiences. Operating across Europe, the Middle East, Asia, and the Americas, we collaborate with leading gaming companies to push the boundaries of interactive entertainment and bring gaming to new audiences worldwide. Safe Harbor Statements This press release contains statements that constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Among other things, the business outlook and quotations from management in this press release, as well as NIP Group’s strategic and operational plans, contain forward-looking statements. NIP Group may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All statements that are not historical or current facts, including but not limited to statements about NIP Group’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NIP Group’s growth strategies; its future business development, results of operations and financial condition; its ability to maintain and enhance the recognition and reputation of its brand; developments in the relevant governmental laws, regulations, policies toward NIP Group’s industry; and general economic and business conditions globally and in the countries or regions where NIP Group has operations; and assumptions underlying or related to any of the foregoing. These statements are based on various assumptions, whether identified in this press release, and on the current expectations of NIP Group’s management and are not predictions of actual performance. NIP Group cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties. Further information regarding these and other risks is included in NIP Group’s filings with the SEC. There may be additional risks that NIP Group does not presently know or that NIP Group currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of NIP Group as of the date of this press release. Subsequent events and developments may cause those views to change. However, while NIP Group may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of NIP Group as of any date subsequent to the date of this press release. Except as may be required by law, NIP Group does not undertake any duty to update these forward-looking statements. For investor and media inquiries, please contact: NIP Group Inc.Investor Relations: ir@nipgroup.ggPublic Relations: pr@nipgroup.gg NIP GROUP INC.UNAUDITED CONSOLIDATED BALANCE SHEETS(In U.S. dollars, except for share and per share data, or otherwise noted) As of December 31,2023 December 31,2024 ASSETS　　　　　　Current assets: Cash and cash equivalents　$7,594,601　$9,559,298Short-term investments - 2,995,607Accounts receivable, net 18,995,477 28,379,548Advance to suppliers　　400,655　　1,066,329Amounts due from related parties　　269,817　　896,177Prepaid expenses and other current assets, net 2,093,740 1,518,143Total current assets　　29,354,290 　　 44,415,102 Non-current assets: Property and equipment, net　　2,917,525　　3,043,272Intangible assets, net 133,969,114 127,981,521Right-of-use assets　　2,124,481　　1,965,772Goodwill 141,402,327 131,909,760Deferred tax assets　　550,794　　2,088,820Other non-current assets　　3,521,024　　1,162,119Total non-current assets 　284,485,265 　 268,151,264 Total assets　$313,839,555 　$ 312,566,366 LIABILITIES　　　　　　Current liabilities: Short-term borrowings　$5,324,019　$10,550,327Long-term borrowing, current portion 281,694 273,998Accounts payable　　12,728,929　　19,070,470Payable related to league tournaments rights, current 1,921,518 732,236Accrued expenses and other liabilities　　6,106,258　　6,527,390Deferred revenue 500,785 1,038,307Operating lease liabilities, current　　644,858　　768,955Amount due to related parties, current 1,270,663 1,372,808Total current liabilities　　28,778,724 　　 40,334,491 Non-current liabilities: 　　 Long-term borrowing, non-current　　3,713,180　　3,376,519Amount due to related party, non-current 131,017 131,017Payable related to league tournaments rights, non-current　　2,342,940　　1,546,701Operating lease liabilities, non-current 1,475,374 1,093,079Deferred tax liabilities　　24,659,215　　23,661,207Total non-current liabilities: 　32,321,726 　 29,808,523 Total liabilities　$61,100,450 　$ 70,143,014 NIP GROUP INC. UNAUDITED CONSOLIDATED BALANCE SHEETS(In U.S. dollars, except for share and per share data, or otherwise noted) As of December 31,2023 December 31,2024 Commitments and contingencies MEZZANINE EQUITY Class A redeemable preferred shares $114,893,066 $- Class B redeemable preferred shares 16,766,736 - Class B-1 redeemable preferred shares 190,882,461 - Redeemable non-controlling interests - 2,958,555 Total mezzanine equity $322,542,263 $ 2,958,555 (DEFICIT) EQUITY: Ordinary Shares (US$0.0001 par value; 429,552,072 and nil shares authorized as of December 31, 2023 and 2024, respectively, 37,163,379 and nil issued and outstanding as of December 31, 2023 and 2024, respectively) $3,716 $- Class A Ordinary Shares (US$0.0001 par value; 461,995,682 shares authorized as of December 31, 2024, 75,392,253 issued and outstanding as of December 31, 2024) - 7,539 Class B Ordinary Shares (US$0.0001 par value; 38,004,318 shares authorized, issued and outstanding as of December 31, 2024) - 3,800 Subscription receivable (3,716) (3,808)Additional paid-in capital - 373,890,499 Statutory reserve 72,420 72,420 Accumulated deficit (80,300,893) (128,921,657)Accumulated other comprehensive income (loss) 5,425,370 (10,522,210)Total (deficit) equity attributable to the shareholders of NIP Group Inc. (74,803,103) 234,526,583 Non-controlling interests 4,999,945 　　 4,938,214 Total (deficit) equity (69,803,158) 　 239,464,797 Total liabilities, mezzanine equity and equity (deficit) $313,839,555 　$ 312,566,366 NIP GROUP INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In U.S. dollars, except for share and per share data, or otherwise noted) For the Six Months Ended December 31, 2023 2024 Net revenue - third parties　$44,496,103 　$45,163,796 Net revenue - related parties 　608,902 　758,038 Total net revenue　　45,105,005 　　45,921,834 Cost of revenue - third parties (39,841,398) (45,092,830)Cost of revenue - related parties　　(358,433)　　(182,483)Total cost of revenue 　(40,199,831) 　(45,275,313)Gross profit　　4,905,174 　　646,521 Operating expenses:　　　　　　Selling and marketing expenses (2,771,373) (5,340,461)General and administrative expenses　　(4,477,954)　　(7,084,114)Total operating expenses 　(7,249,327) 　(12,424,575)　　　　　　　Operating loss (2,344,153) (11,778,054)　　　　　　　Other income (expense): Other income, net　　279,880 　　2,516,554 Interest expense, net　　(304,892)　　(196,993)Total other (expense) income, net 　(25,012) 　2,319,561 　　　　　　　Loss before income tax expenses (2,369,165) (9,458,493)Income tax benefits　　382,640 　　1,438,727 Net loss 　(1,986,525) 　(8,019,766)Net income attributable to non-controlling interest　　117,764 　　23,389 Net loss attributable to NIP Group Inc. (2,104,289) (8,043,155)Preferred shares redemption value accretion (31,084,334) - Net loss attributable to NIP Group Inc.'s shareholders　　(33,188,623)　　(8,043,155) 　Other comprehensive income (loss):　　　　　 Foreign currency translation (loss) income attributable to non-controlling interest, net of nil tax (5,238) 1,493 Foreign currency translation income (loss) attributable to ordinary shareholders, net of nil tax　　3,964,784 　　(7,718,540)Total comprehensive income (loss) $1,973,021 $(15,736,813)Total comprehensive loss attributable to non-controlling interest　　112,526 　　24,882 Total comprehensive income (loss) attributable to NIP Group Inc. 1,860,495 (15,761,695)　　　　　　 Net loss per ordinary share 　Basic and Diluted　　(0.89)　　(0.08) 　Weighted average number of ordinary shares outstanding　　　　　 Basic and Diluted 37,163,379 104,155,063 NIP GROUP INC.UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(In U.S. dollars, except for share and per share data, or otherwise noted) For the Year Ended December 31, 2023 2024 Net revenue - third parties $82,502,622 $84,056,642 Net revenue - related parties 1,165,819 1,209,664 Total net revenue　　83,668,441 　　 85,266,306 Cost of revenue - third parties (75,884,571) (81,909,050)Cost of revenue - related parties (585,184) (346,721)Total cost of revenue 　(76,469,755) 　 (82,255,771)Gross profit　　7,198,686 　　 3,010,535 Operating expenses:　 Selling and marketing expenses (6,577,396) (8,130,777)General and administrative expenses (15,273,231) (11,768,315)Total operating expenses 　(21,850,627) 　 (19,899,092) Operating loss (14,651,941) (16,888,557 ) Other income (expense): Other income, net 716,554 2,370,956 Interest expense, net (523,317) (537,479)Total other income, net 　193,237 　1,833,477 Loss before income tax expenses (14,458,704) (15,055,080)Income tax benefits 1,200,855 2,369,759 Net loss 　(13,257,849) 　 (12,685,321)Net income attributable to non-controlling interest 180 4,464 Net loss attributable to NIP Group Inc. (13,258,029) (12,689,785)Preferred shares redemption value accretion (43,914,707) (35,930,979)Net loss attributable to NIP Group Inc.'s shareholders 　(57,172,736) 　 (48,620,764) Other comprehensive income (loss): Foreign currency translation (loss) income attributable to non-controlling interest, net of nil tax (1) 1,628 Foreign currency translation income (loss) attributable to ordinary shareholders, net of nil tax 5,253,255 (15,947,580)Total comprehensive loss $(8,004,595) $ (28,631,273)Total comprehensive income attributable to non-controlling interest 179 6,092 Total comprehensive loss attributable to NIP Group Inc. (8,004,774) (28,637,365) Net loss per ordinary share Basic and Diluted (1.54) (0.69) Weighted average number of ordinary shares outstanding Basic and Diluted 37,160,593 70,200,374

Mettis Global News

03.05.2025

Pakistan’s short-term FX liabilities reach nears $30bn - Mettis Global Link

Due to maturing foreign currency loans, securities, and deposits, Pakistan's foreign currency...

ForexTV

07.05.2025

Magnera Reports Second Quarter Results – Provides Updated Outlook - ForexTV

Second Quarter Highlights GAAP: Net sales of $824 million, Operating income of $4 millionNon-GAAP: Adjusted EBITDA of $89 million, Post-merger adjusted free cash flow $42 millionReaffirming post-merger adjusted free cash flow range & lowering full year comparable Adjusted EBITDA range CHARLOTTE, N.C., May 07, 2025 (GLOBE NEWSWIRE) -- Magnera (NYSE: MAGN), a global leader in specialty materials for the consumer products and personal care markets, today reported financial results for its fiscal 2025 second quarter ended March 29, 2025. Curt Begle, Magnera’s CEO, commented: "This quarter underscores the resilience of our business as we navigate ongoing global economic uncertainty. Our team has transitioned from stabilizing the business through a disciplined integration plan to actively executing on identified optimization opportunities. As anticipated, our distinctive value proposition—anchored by our global market presence, broad product portfolio, and innovation capabilities—continues to drive organic growth in attractive end markets as we support our customers' evolving product requirements. In the face of uncertainties related to tariff driven demand concerns, we remain laser focused on executing our strategic priorities of integration, synergy realization, and profitable long-term growth. Our portfolio is primarily made up of products that people use every day, however we are prepared to take the appropriate operational and cost measures that align with short-term market realities. Our commitment to earnings and free cash flow stability will ultimately increase long-term shareholder value.” Key Financials March QuarterMarch YTDGAAP results2025202420252024Net sales$824$558$1,526$1,077Operating income421(18)9 March QuarterReportedComparable(1)March YTDReportedComparable(1)Adjusted non-GAAP results 2025 2024Δ%Δ% 2025 2024Δ%Δ%Net sales$824$55848%(4%)$1,526$1,07742%(3%)Adjusted EBITDA(1) 89 7617%(8%) 173 14222%(2%) (1) Adjusted non-GAAP results exclude items not considered to be ongoing operations. In addition, comparable change % normalizes the impacts of foreign currency and the recent merger with GLT. Further details related to non-GAAP measures and reconciliations can be found under our “Reconciliation of Non-GAAP Financial Measures and Estimates” section or in reconciliation tables in this release. Dollars in millions Consolidated Overview The net sales increase of 48% included revenue from the Glatfelter merger of $311 million partially offset by a $26 million unfavorable impact from foreign currency changes, decreased selling prices of $14 million and a 1% decline in volume. The adjusted EBITDA increase of 17% included a contribution from the Glatfelter merger of $18 million partially offset by a $3 million unfavorable impact from foreign currency changes and unfavorable impact from price/cost spread of $3 million. The contributed Glatfelter EBITDA represents a $6 million decline compared to prior year primarily as the result of higher energy costs in Europe. Americas The net sales increase in the Americas segment included revenue from the Glatfelter merger of $124 million partially offset by a $15 million unfavorable impact from foreign currency changes and decreased selling prices of $12 million. The adjusted EBITDA increase included a contribution from the Glatfelter merger of $10 million partially offset by unfavorable impact from price cost spread of $3 million and a $2 million unfavorable impact from foreign currency changes in our South America businesses. Rest of World The net sales increase in the Rest of World segment included revenue from the Glatfelter merger of $187 million partially offset by a $11 million unfavorable impact from foreign currency changes and a 3% volume decline. The adjusted EBITDA increase included a contribution from the Glatfelter merger of $8 million which was down $6 million compared to prior year primarily as the result of higher energy costs in Europe. Free Cash Flow and Net Debt Magnera is committed to strengthening our credit metrics by paying down debt in the near term. (in millions)March QuarterMarch YTDCash flow from operating activities$65 $7 Pre-merger cash flow from operating activities - 90 Additions to property, plant and equipment, net (23) (39) Post-merger adjusted free cash flow(1)$42 $58 (1) Further details related to non-GAAP measures and reconciliations can be found under our “Reconciliation of Non-GAAP Financial Measures and Estimates” section or in reconciliation tables in this release. (in millions)March 29, 2025 Term Loan$783 4.75% First Priority Senior Secured Notes 500 7.25% First Priority Senior Secured Notes 800 Debt discount, deferred fees and other (net) (85) Total debt$1,998 Cash and cash equivalents 282 Total net debt$1,716 Leverage3.9x Fiscal Year 2025 Guidance Full year comparable adjusted EBITDA of $360 - $380 million Post-merger adjusted free cash flow of $75 - $95 million Investor Conference Call The Company will host a conference call today, May 7, 2025, at 10:00 a.m. U.S. Eastern Time to discuss our March 2025 quarter results. The webcast can be accessed here. A replay of the webcast will be available via the same link on our website after the completion of the call. By TelephoneParticipants may register for the call here now or any time up to and during the time of the call and will immediately receive the dial-in number and a unique pin to access the call. While you may register at any time up to and during the time of the call, you are encouraged to join the call 15 minutes prior to the start of the event. About Magnera Magnera Corporation (NYSE: MAGN) serves 1,000+ customers worldwide, offering a wide range of material solutions, including components for absorbent hygiene products, protective apparel, wipes, specialty building and construction products, and products serving the food and beverage industry. Operating across 46 global facilities, Magnera is supported by over 9,000 employees. Magnera’s purpose is to better the world with new possibilities made real. For more than 160 years, the company has delivered the material solutions their partners need to thrive. Through economic upheaval, global pandemics and changing end-user needs, we have consistently found ways to solve problems and exceed expectations. The distinct scale and comprehensive portfolio of products brings customers more materials and choices. Magnera builds personal partnerships that withstand an ever-changing world. Visit magnera.com for more information and follow @MagneraCorporation on social platforms. Non-GAAP Financial Measures and EstimatesThis press release includes non-GAAP financial measures including, but not limited to, Adjusted EBITDA, free cash flow, and comparable basis net sales and adjusted EBITDA. A reconciliation of these non-GAAP financial measures to comparable measures determined in accordance with accounting principles generally accepted in the United States of America (GAAP) is set forth at the end of this press release. Information reconciling forward-looking adjusted EBITDA and adjusted free cash flow are not provided because such information is not available without unreasonable effort due to high variability, complexity, and low visibility with respect to certain items, including debt refinancing activity or other non-comparable items. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with U.S. GAAP. Forward Looking Statements Information included or incorporated by reference in Magnera Corporation’s filings with the U.S. Securities and Exchange Commission (the “SEC”) and press releases or other public statements contains or may contain “forward-looking” statements within the meaning of the federal securities laws and are presented pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such “forward-looking” statements include, but are not limited to, statements with respect to our financial condition, results of operations and business, our expectations or beliefs concerning future events, statements about the benefits of the transaction between Glatfelter Corporation and Berry Global Group, Inc., including future financial and operating results, the combined company’s plans, objectives, expectations and intentions, and other statements that are not historical facts. These statements contain words such as “believes,” “expects,” “may,” “will,” “should,” “would,” “could,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “outlook,” “anticipates” or “looking forward” or similar expressions that relate to our strategy, plans, intentions, or expectations. All statements we make relating to our estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates, and financial results or to our expectations regarding future industry trends are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. These forward-looking statements are based upon the current beliefs and expectations of the management of Magnera and are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those that we expected. These risks and other risk factors are detailed from time to time in Magnera’s reports filed with the Securities and Exchange Commission (the “SEC”), including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, including our Form 8-K/A filed on January 31, 2025, and other documents filed with the SEC. These risk factors may not contain all of the material factors that are important to you. New factors may emerge from time to time, and it is not possible to either predict new factors or assess the potential effect of any such new factors. Accordingly, readers should not place undue reliance on those statements. All forward-looking statements are based upon information available as of the date hereof. All forward-looking statements are made only as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Consolidated and Combined Statements of Income (Unaudited) Quarterly Period Ended Two Quarterly Periods Ended(in millions, except per share amounts)March 29, 2025March 30, 2024 March 29, 2025March 30, 2024 Net sales$824 $558 $1,526 $1,077 Cost of goods sold 736 488 1,367 965 Selling, general and administrative 47 28 91 56 Amortization of intangibles 14 12 28 24 Transaction and other activities 23 4 55 14 Corporate expense allocation - 5 3 9 Operating income (loss) 4 21 (18) 9 Other expense (income) 5 1 26 (1) Interest expense 39 2 65 2 Income (loss) before income taxes (40) 18 (109) 8 Income tax (benefit) expense 1 4 (8) 2 Net income (loss)$(41) $14 $(101) $6 Basic and diluted net income per share$(1.15) $0.44 $(2.85) $0.19 Outstanding weighted average shares Basic and diluted 35.6 31.8 35.5 31.8 Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) Two Quarterly Periods Ended(in millions)March 29, 2025 March 30, 2024Net cash from (used in) operating activities$7 $(7) Cash flows from investing activities: Additions to property, plant, and equipment, net (39) (41) Cash acquired from GLT acquisition 37 - Other investing activities 22 28 Net cash from (used in) investing activities 20 (13) Cash flows from financing activities: Repayments on long-term borrowings 1,556 - Proceeds from long-term borrowings (432) (1) Transfers from Berry, net 34 8 Cash distribution to Berry (1,111) - Debt fees and other, net (15) - Net cash from financing activities 32 7 Effect of currency translation on cash (7) 2 Net change in cash and cash equivalents 52 (11) Cash and cash equivalents at beginning of period 230 185 Cash and cash equivalents at end of period$282 $174 Condensed Consolidated Balance Sheets (Unaudited) (in millions of USD)March 29, 2025 September 28, 2024Cash and cash equivalents$ 282 $ 230Accounts receivable 492 359Inventories 508 259Other current assets 146 38Property, plant, and equipment 1,519 949Goodwill, intangible assets, and other long-term assets 1,114 972Total assets$ 4,061 $2,807Current liabilities, excluding current debt 588 457Current and long-term debt 1,998 -Other long-term liabilities 382 211Stockholders’ equity 1,093 2,139Total liabilities and stockholders' equity$ 4,061 $2,807 Reconciliation of Non-GAAP Measures and Estimates(in millions of dollars) Reconciliation of Net sales and Adjusted EBITDA on a supplemental comparable basis by segment Quarterly Period ended March 29, 2025Quarterly Period ended March 30, 2024 AmericasRest of WorldTotalAmericasRest of WorldTotal Net sales$ 473$ 351$ 824$375$183$558 Constant FX rates (15)(11) (26) GLT prior year 126201 327 Comparable net sales (1)(6)$ 473$ 351$ 824$486$373$859 Operating Income$ 8$ (4)$ 4$20$1$21 Depreciation and amortization 39 19 58 311344 Transaction, business consolidation and other activities (2) 14 5 19314 GAAP carve-out allocation (3) - - - 5 -5 Other non-cash charges (5) 3 5 8 -2 2 Adjusted EBITDA (1)$ 64$ 25$ 89$59$17$76 Constant FX rates (2)(1) (3) GLT prior year 10 14 24 Comparable Adjusted EBITDA (1)(6)$ 64$ 25$ 89$67$30$97 % vs. prior year comparable (4%) (17%) (8%) Two Quarterly Periods ended March 29, 2025Two Quarterly Periods ended March 30, 2024 AmericasRest of World TotalAmericasRest of WorldTotalLTMNet sales$ 893$ 633$ 1,526$723$354$1,077 Constant FX rates (28)(12)(40) GLT prior year 202 336 538 Comparable net sales (1)(6)$ 893$ 633$ 1,526$897$678$1,575 Operating Income$ 1$ (19)$ (18)$17$(8)$9$(168)Depreciation and amortization 72 39 111 61 27 88197Transaction, business consolidation and other activities (2) 34 17 51 68 1468Impact from hyperinflation - - -15 -15-Goodwill impairment - - ----172GAAP carve-out allocation (3) 2 1 3 81 9 15Other non-cash charges (4)(5) 11 15 26 347 30Adjusted EBITDA (1)$ 120$ 53$ 173$110$32$142$312Constant FX rates (6) (1)(7) GLT prior year 1527 41 Comparable Adjusted EBITDA (1)(6)$ 120$ 53$ 173$119$58$177 % vs. prior year comparable 0% (9%) (2%) PF GLT Adjusted EBITDA 8 859Synergies and cost reductions 65PF Adjusted EBITDA $436 Guidance Fiscal 2025 Adjusted EBITDAFiscal 2025 Midpoint Cash flow from operating activities$60-$80 Adjusted EBITDA$362 Pre-merger cash flow from operating activities (7)90 GLT Pro forma8 Additions to PPE (net)(75) Full Year Comparable Adjusted EBITDA$370 Post-merger adjusted free cash flow(1)$75 - $95 (1) Supplemental financial measures that are not required by, or presented in accordance with, accounting principles generally accepted in the United States (“GAAP”). These non-GAAP financial measures should not be considered as alternatives to operating or net income or cash flows from operating activities, in each case determined in accordance with GAAP. Comparable basis measures exclude the impact of currency translation effects and acquisitions. These non-GAAP financial measures may be calculated differently by other companies, including other companies in our industry, limiting their usefulness as comparative measures. Management believes that Adjusted EBITDA and other non-GAAP financial measures are useful to our investors because they allow for a better period-over-period comparison of operating results by removing the impact of items that, in management’s view, do not reflect our core operating performance. We define “Post-merger free cash flow” as cash flow from operating activities, less pre-merger free cash flow, less net additions to property, plant, and equipment. We believe free cash flow is useful to an investor in evaluating our liquidity because free cash flow and similar measures are widely used by investors, securities analysts, and other interested parties in our industry to measure a company’s liquidity. We believe post-merger free cash flow is also useful to an investor in evaluating our liquidity as it can assist in assessing a company’s ability to fund its growth through its generation of cash and as pre-merger cash flow is not indicative of our current structure and operations. We also use Adjusted EBITDA and comparable basis measures, among other measures, to evaluate management performance and in determining performance-based compensation. Adjusted EBITDA is a measure widely used by investors, securities analysts, and other interested parties in our industry to measure a company’s performance. We also believe these measures are useful to an investor in evaluating our performance without regard to revenue and expense recognition, which can vary depending upon accounting methods. (2) Includes restructuring, business optimization and other charges and YTD balance also includes $19 million of transaction compensation(3) Consists of estimated parent-allocated charges for the period prior to merger which is required by GAAP as part of the carve-out financial statement process.(4) Includes a $12 million inventory step-up charge related to GLT merger YTD and other non-cash charges.(5) Includes stock compensation expense and equipment disposals(6) The prior year comparable basis change excludes the impacts of foreign currency and acquisition/mergers.(7) Pre-merger cash flow includes cash from operations prior to the merger and cash payments burdened by the transaction. IR Contact Information Robert WeilminsterEVP, Investor Relations IR@magnera.com

ForexTV

08.05.2025

Enovis Announces First Quarter 2025 Results - ForexTV

Continued commercial momentum with first-quarter sales growth of 8% on a reported basis and strong adjusted EBITDA margin expansion First-quarter Reconstructive sales grew 11% year-over-year on a reported basis Appointed Damien McDonald as CEO, effective May 12th, 2025 Wilmington, DE, May 08, 2025 (GLOBE NEWSWIRE) -- Enovis™ Corporation (“Enovis” or “the Company”) (NYSE: ENOV), an innovation-driven medical technology growth company, today announced its financial results for the first quarter ended April 4, 2025. The Company will host an investor conference call and live webcast to discuss these results today at 8:30 am ET. First Quarter 2025 Financial Results Enovis’ first-quarter net sales of $559 million grew 8% on a reported basis and 9% (+10% xFX) on a comparable basis from the same quarter in 2024. First quarter results reflect continued execution in P&R, a rebound in growth in Recon, and accelerating momentum in new product introductions. Compared to the same quarter in 2024, net sales in Recon grew 11% on a reported and comparable basis (+13% xFX), and P&R grew 5% on a reported basis and 7% (+8% xFX) on a comparable growth basis. Enovis also reported first-quarter net loss from continuing operations of $56 million, or a loss of 10.0% of sales, and adjusted EBITDA of $99 million, or 17.7% of sales, an increase of 160 basis points versus the comparable prior-year quarter. The Company reported first-quarter 2025 net loss from continuing operations of $0.98 per share and adjusted net earnings per diluted share of $0.81. “We delivered a strong start to 2025, with first-quarter revenues and margins exceeding expectations,” said Matt Trerotola, Chief Executive Officer of Enovis. “This performance reflects the strength of our business system and the discipline of our teams as we navigate a complex global environment. As we move forward, we remain focused on driving above-market growth through disciplined execution, strategic investment, and a multi-year cadence of high-impact product launches across our portfolio.” 2025 Financial Outlook Enovis updated financial expectations for 2025. Revenue is expected to be in the range of $2.22-2.25 billion, versus prior expectations of $2.19-2.22 billion. Adjusted EBITDA is forecasted to be $385-395 million, as compared to the prior outlook of $405-415 million, and now includes $20mm of tariff related impact. Full-year adjusted earnings per share was updated from $3.10-$3.25 to $2.95-$3.10. Conference call and Webcast Investors can access the webcast via a link on the Enovis website, www.enovis.com. For those planning to participate on the call, please dial (833) 335-0887 and use access code 482081. A link to a replay of the call will also be available on the Enovis website later in the day. About Enovis Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.enovis.com. Availability of Information on the Enovis Website Investors and others should note that Enovis routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Enovis Investor Relations website. While not all of the information that the Company posts to the Enovis Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Enovis to review the information that it shares on ir.enovis.com. Forward-Looking Statements This press release includes forward-looking statements, including forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Enovis’ plans, goals, objectives, outlook, expectations and intentions, and other statements that are not historical or current fact. Forward-looking statements are based on Enovis’ current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Enovis’ results to differ materially from current expectations include, but are not limited to, risks related to Enovis’ acquisition of Lima; the impact of public health emergencies and global pandemics; disruptions in the global economy caused by escalating geopolitical tensions including in connection with Russia’s invasion of Ukraine; macroeconomic conditions, including the impact of inflationary pressures; changes in government trade policies, including the implementation of tariffs; supply chain disruptions; increasing energy costs and availability concerns, particularly in the European market; other impacts on Enovis’ business and ability to execute business continuity plans; and the other factors detailed in Enovis’ reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including its most recent Annual Report on Form 10-K under the caption “Risk Factors,” as well as the other risks discussed in Enovis’ filings with the SEC. In addition, these statements are based on assumptions that are subject to change. This press release speaks only as of the date hereof. Enovis disclaims any duty to update the information herein. Non-GAAP Financial Measures Enovis has provided in this press release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (“non-GAAP”). These non-GAAP financial measures may include one or more of the following: adjusted net income from continuing operations (“Adjusted net income”), Adjusted net income per diluted share, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted gross profit, Adjusted gross profit margin, Comparable sales, Comparable sales growth, and Comparable sales growth on constant currency basis. Adjusted net income and Adjusted net income per diluted share exclude restructuring and other charges, Medical Device Regulation (“MDR”) fees and other costs, strategic transaction costs, stock-based compensation, acquisition-related intangible asset amortization, strategic purchase of economic interest on future royalty payments, insurance settlement loss (gain), goodwill impairment charges, property plant and equipment step-up depreciation, and fair value charges on acquired inventory, Other (income) expense, net, and include the tax effect of adjusted pre-tax income at applicable tax rates and other tax adjustments. Enovis also presents Adjusted net income margin, which is subject to the same adjustments as Adjusted net income. Adjusted EBITDA represents Adjusted net income excluding interest, taxes, and depreciation and amortization. Enovis presents Adjusted EBITDA margin, which is subject to the same adjustments as Adjusted EBITDA. Adjusted gross profit represents gross profit excluding the fair value charges of acquired inventory, depreciation step-up of acquired fixed assets, and the impact of restructuring and other charges. Adjusted gross profit margin is subject to the same adjustments as Adjusted gross profit. Comparable sales adjusts net sales for prior periods to include the sales of acquired businesses prior to our ownership from acquisitions that closed in the periods presented and to exclude the net sales of certain non-core product lines that were divested or discontinued, as applicable, during the periods presented. Comparable sales growth represents the change in Comparable sales for the current period from Comparable sales for the prior year period. Comparable sales growth on constant currency basis represents Comparable sales growth excluding the impact of foreign exchange rate fluctuations based on prior year sales valued at the current period foreign currency rates. Comparable sales, comparable sales growth and comparative sales growth on a constant currency basis are presented for illustrative purposes only and do not and are not intended to comply with Article 11 of Regulation S-X promulgated by the SEC in respect of proforma financial information, and may differ, including materially, from proforma financial statements presented in accordance therewith. These non-GAAP financial measures assist Enovis management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete restructuring plans that are fundamentally different from the ongoing productivity improvements of the Company. Enovis management also believes that presenting these measures allows investors to view its performance using the same measures that the Company uses in evaluating its financial and business performance and trends. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of non-GAAP financial measures presented above to GAAP results has been provided in the financial tables included in this press release. Enovis does not provide reconciliations of adjusted EBITDA or adjusted earnings per share on a forward-looking basis to the closest GAAP financial measures, as such information is not available without unreasonable efforts on a forward-looking basis due to uncertainties regarding, and the potential variability of, reconciling items excluded from these measures. These items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. Kyle RoseVice President, Investor RelationsEnovis Corporation+1-917-734-7450investorrelations@enovis.com Enovis CorporationCondensed Consolidated Statements of OperationsDollars in thousands, except per share data(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Net sales $ 558,834 $ 516,266 Cost of sales 226,605 218,370 Gross profit 332,229 297,896 Gross profit margin 59.5 % 57.7 %Selling, general and administrative expense 269,019 255,691 Research and development expense 28,528 23,377 Amortization of acquired intangibles 41,812 40,931 Purchase of royalty interest 35,777 — Restructuring and other charges 3,862 12,911 Operating loss (46,769) (35,014) Operating loss margin (8.4) % (6.8) %Interest expense, net 9,188 19,996 Other expense, net 1,392 24,235 Loss from continuing operations before income taxes (57,349) (79,245) Income tax benefit (1,769) (7,404) Net loss from continuing operations (55,580) (71,841) Loss from discontinued operations, net of taxes (125) — Net loss (55,705) (71,841) Net loss margin (10.0) % (13.9) %Less: net income attributable to noncontrolling interest from continuing operations - net of taxes 261 157 Net loss attributable to Enovis Corporation $ (55,966) $ (71,998) Net income (loss) per share - basic and diluted Continuing operations $ (0.98) $ (1.32) Discontinued operations $ — $ — Consolidated operations $ (0.98) $ (1.32) Enovis CorporationReconciliation of GAAP to Non-GAAP Financial MeasuresDollars in millions, except per share data(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Adjusted Net Income and Adjusted Net Income Per Share Net loss from continuing operations attributable to Enovis Corporation(1) (GAAP)$ (55.8) $ (72.0) Restructuring and other charges - pretax(2) 3.9 12.9 MDR and other costs - pretax(3) 3.2 4.9 Amortization of acquired intangibles - pretax 41.8 40.9 Inventory step-up and PPE step-up depreciation - pretax(4) 12.7 5.1 Strategic transaction costs - pretax(5) 12.1 20.8 Purchase of royalty interest(6) 35.8 — Stock-based compensation 7.4 6.4 Other (income) expense, net(7) 1.4 24.2 Tax adjustment(8) (16.0) (15.6) Adjusted net income from continuing operations (non-GAAP)$ 46.5 $ 27.7 Adjusted net income margin from continuing operations 8.3 % 5.4 % Weighted-average shares outstanding - diluted (GAAP) 56,792 54,687 Net loss per share - diluted from continuing operations (GAAP)$ (0.98) $ (1.32) Adjusted weighted-average shares outstanding - diluted (non-GAAP) 57,374 55,273 Adjusted net income per share - diluted from continuing operations (non-GAAP)$ 0.81 $ 0.50 __________(1) Net loss from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net loss from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes.(2) Restructuring and other charges includes an immaterial expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three months ended April 4, 2025.(3) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.(4) Includes $12.1 million in inventory step-up charges and $0.6 million in PPE step-up depreciation in connection with acquired businesses for the three months ended April 4, 2025. Includes $5.1 million in inventory step-up charges in connection with acquired businesses for the three months ended March 29, 2024.(5) Strategic transaction costs includes integration costs related to recent acquisitions and Separation-related costs.(6) In the first quarter of 2025, we completed strategic purchases of economic interest on future royalty payments in our intellectual property (“royalty interest”) for a fixed price of $43.8 million, which will be paid over seven years. We accrued a liability and recognized a $35.8 million charge for the net present value of the purchases.(7) Other (income) expense, net primarily includes the fair value gain on Contingent Acquisition shares, partially offset by the first quarter of 2024 loss on the non-designated forward currency hedge for managing exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition.(8) The effective tax rates used to calculate adjusted net income and adjusted net income per share were 23.4% for the three months ended April 4, 2025, respectively, and 22.7% for the three months ended March 29, 2024, respectively. Enovis CorporationReconciliation of GAAP to Non-GAAP Financial MeasuresDollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 (Dollars in millions)Net loss from continuing operations (GAAP)$ (55.6) $ (71.8) Income tax benefit (1.8) (7.4) Other (income) expense, net 1.4 24.2 Interest expense, net 9.2 20.0 Operating loss (GAAP) (46.8) (35.0) Adjusted to add: Restructuring and other charges(1) 3.9 12.9 MDR and other costs(2) 3.2 4.9 Strategic transaction costs(3) 12.1 20.8 Stock-based compensation 7.4 6.4 Depreciation and other amortization 29.6 27.2 Amortization of acquired intangibles 41.8 40.9 Purchase of royalty interest(4) 35.8 — Inventory step-up 12.1 5.1 Adjusted EBITDA (non-GAAP)$ 99.2 $ 83.2 Adjusted EBITDA margin (non-GAAP) 17.7 % 16.1 % __________(1) Restructuring and other charges includes an immaterial expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three months ended April 4, 2025.(2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations.(3) Strategic transaction costs includes integration costs related to recent acquisitions and Separation-related costs.(4) In the first quarter of 2025, we completed strategic purchases of economic interest on future royalty payments in our intellectual property (“royalty interest”) for a fixed price of $43.8 million, which will be paid over seven years. We accrued a liability and recognized a $35.8 million charge for the net present value of the purchases. Enovis CorporationReconciliation of Gross Margin (GAAP) to Adjusted Gross Margin (non-GAAP)Dollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024Net sales$ 558.8 $ 516.3 Gross profit$ 332.2 $ 297.9 Gross profit margin (GAAP) 59.4 % 57.7 % Gross profit (GAAP)$ 332.2 $ 297.9 Inventory step-up and PPE step-up depreciation 12.7 5.1 Adjusted gross profit (Non-GAAP)$ 344.9 $ 303.0 Adjusted gross profit margin (Non-GAAP) 61.7 % 58.7 % Enovis CorporationCondensed Consolidated Balance SheetsDollars in thousands, except share amounts(Unaudited) April 4, 2025 December 31, 2024ASSETS CURRENT ASSETS: Cash and cash equivalents$ 38,460 $ 48,167 Trade receivables, less allowance for credit losses of $26,846 and $24,466 435,618 407,031 Inventories, net 585,911 547,120 Prepaid expenses 42,494 36,246 Other current assets 115,698 107,882 Total current assets 1,218,181 1,146,446 Property, plant and equipment, net 426,288 404,500 Goodwill 1,733,334 1,692,709 Intangible assets, net 1,344,547 1,317,429 Lease asset - right of use 65,949 68,915 Other assets 86,735 88,778 Total assets$ 4,875,034 $ 4,718,777 LIABILITIES AND EQUITY CURRENT LIABILITIES: Current portion of long-term debt$ 20,028 $ 20,027 Accounts payable 188,149 179,098 Accrued liabilities 269,246 329,873 Total current liabilities 477,423 528,998 Long-term debt, less current portion 1,367,537 1,309,473 Non-current lease liability 49,161 52,461 Other liabilities 360,695 263,516 Total liabilities 2,254,816 2,154,448 Equity: Common stock, $0.001 par value; 133,333,333 shares authorized; 57,118,641 and 55,876,517 shares issued and outstanding as of April 4, 2025 and December 31, 2024, respectively 57 56 Additional paid-in capital 3,021,690 2,973,121 Accumulated deficit (338,989) (283,023)Accumulated other comprehensive loss (64,990) (127,892)Total Enovis Corporation equity 2,617,768 2,562,262 Noncontrolling interest 2,450 2,067 Total equity 2,620,218 2,564,329 Total liabilities and equity$ 4,875,034 $ 4,718,777 Enovis CorporationCondensed Consolidated Statements of Cash FlowsDollars in thousands(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 Cash flows from operating activities: Net loss$ (55,705) $ (71,841)Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 71,435 73,404 Stock-based compensation expense 7,407 6,431 Non-cash interest expense 1,348 1,245 Fair value loss on contingent acquisition shares 1,787 13,443 Loss on currency hedges — 11,123 Deferred income tax benefit (1,769) (9,966)(Gain) loss on sale of property, plant and equipment (527) 265 Changes in operating assets and liabilities: Trade receivables, net (15,977) (12,009)Inventories, net (23,295) (11,051)Accounts payable 4,189 (11,752)Other operating assets and liabilities 9,511 (25,448)Net cash used in operating activities (1,596) (36,156)Cash flows from investing activities: Purchases of property, plant and equipment and intangibles (43,262) (36,928)Payments for acquisitions, net of cash received, and investments (18,858) (760,914)Cash received upon settlement of derivatives 1,601 — Net cash used in investing activities (60,519) (797,842)Cash flows from financing activities: Proceeds from borrowings on term credit facility — 400,000 Repayments of borrowings under term credit facility (5,000) (5,000)Proceeds from borrowings on revolving credit facilities and other 72,000 480,000 Repayments of borrowings on revolving credit facilities and other (10,438) (1,956)Payment of debt issuance costs — (703)Payments of tax withholding for stock-based awards (3,447) (4,772)Proceeds from issuance of common stock, net 341 871 Deferred consideration payments and other (2,265) (3,900)Net cash provided by financing activities 51,191 864,540 Effect of foreign exchange rates on Cash and cash equivalents 1,217 (828)Increase (decrease) in Cash and cash equivalents (9,707) 29,714 Cash and cash equivalents, beginning of period 48,167 44,832 Cash and cash equivalents, end of period$ 38,460 $ 74,546 Supplemental disclosures: Fair value of contingently issuable shares in business acquisition$ — $ 107,877 Enovis CorporationGAAP and Comparable Net SalesChange in SalesDollars in millions(Unaudited) Three Months Ended April 4, 2025 March 29, 2024 Growth Rate GAAP (In millions)Prevention & Recovery: U.S. Bracing & Support$ 115.1 $ 104.6 10.1 %U.S. Other P&R 66.6 66.4 0.4 %International P&R 90.9 88.1 3.2 %Total Prevention & Recovery 272.6 259.0 5.2 % Reconstructive: U.S. Reconstructive 137.9 123.7 11.4 %International Reconstructive 148.4 133.5 11.1 %Total Reconstructive 286.3 257.3 11.3 % Total$ 558.8 $ 516.3 8.2 % Three Months Ended April 4, 2025 March 29, 2024 Growth Rate Constant Currency Growth Rate (2) Comparable Sales (1) (In millions)Prevention & Recovery: U.S. Bracing & Support$ 115.1 $ 104.6 10.1 % 10.1 %U.S. Other P&R 66.6 63.6 4.7 % 4.7 %International P&R 90.9 86.5 5.1 % 7.6 %Total Prevention & Recovery 272.6 254.7 7.0 % 7.9 % Reconstructive: U.S. Reconstructive 137.9 123.7 11.4 % 11.4 %International Reconstructive 148.4 133.0 11.5 % 14.4 %Total Reconstructive 286.3 256.8 11.5 % 13.0 % Total$ 558.8 $ 511.4 9.3 % 10.4 % (1) Comparable sales adjusts net sales for prior periods to include the sales of acquired businesses prior to our ownership from acquisitions that closed after March 31, 2024 and to exclude the sales of certain non-core product lines that were divested or discontinued, as applicable, during the periods presented. There were no acquired business adjustments in the periods presented. (2) Comparable sales growth on a constant currency basis represents Comparable sales growth excluding the impact of foreign exchange rate fluctuations based on prior year sales valued at the current period foreign currency rates.

ForexTV

08.05.2025

Prestige Consumer Healthcare Inc. Reports Record Fiscal 2025 Revenue and Earnings - ForexTV

Revenue of $296.5 million in Q4 and $1,137.8 million in fiscal 2025Organic revenue grew 7.9% in Q4 and 1.2% in fiscal 2025Diluted EPS of $4.29 in fiscal 2025; Adjusted fiscal 2025 Diluted EPS of $4.52 grew 7.4% versus adjusted prior yearReduced leverage to 2.4x at year-end driven by strong free cash flow and EBITDA growthInitial fiscal 2026 organic revenue growth and Diluted EPS outlook of approximately 1% to 2% and $4.70 to $4.82, respectively TARRYTOWN, N.Y., May 08, 2025 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE:PBH) today reported financial results for its fourth quarter and fiscal year ended March 31, 2025. “We are very pleased with our fiscal year results, which delivered another year of consistent sales and earnings per share growth. The record fourth quarter sales performance exceeded our expectations, driven by continued International business strength, growth in a wide range of categories and brands in North America, and the success of the eCommerce channel thanks to our long-term investments and broad distribution. The resulting earnings growth translated into strong free cash flow which amplified shareholder returns through a continued disciplined capital allocation approach that included share repurchases, M&A, and deleveraging in the fiscal year,” said Ron Lombardi, Chief Executive Officer of Prestige Consumer Healthcare. Fourth Fiscal Quarter Ended March 31, 2025 Record reported revenues in the fourth quarter of fiscal 2025 of $296.5 million increased 7.0% from $277.0 million in the fourth quarter of fiscal 2024. Revenues increased 7.9% versus the prior fiscal fourth quarter excluding the impact of foreign currency. The revenue performance versus the prior year comparable period reflected broad-based growth across both North America and International business segments. GI and Women’s Health categories experienced the largest dollar growth versus the prior year, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. Reported net income for the fourth quarter of fiscal 2025 was $50.1 million versus the prior year fourth quarter of $49.5 million. Diluted earnings per share of $1.00 for the fourth quarter of fiscal 2025 compared to $0.98 in the prior year comparable period. Non-GAAP adjusted net income for the fourth quarter of fiscal 2025 was $65.9 million and compared to the prior year period’s adjusted net income of $51.4 million. Non-GAAP adjusted diluted earnings per share of $1.32 per share for the fourth quarter of fiscal 2025 compared to $1.02 per share in the prior year comparable period. The adjustments to net income in the fourth quarter of fiscal 2025 and fourth quarter fiscal 2024 each reflects a tax rate adjustment to account for discrete items. Adjustments to net income in the fourth quarter of fiscal 2025 also included non-cash tradename impairments associated with non-strategic intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Fiscal Year Ended March 31, 2025 Reported revenues for the fiscal year 2025 totaled $1,137.8 million, an increase of 1.1% versus revenues of $1,125.4 million in the prior fiscal year. Revenues increased 1.2% versus the prior fiscal year excluding the impact of foreign currency. The revenue growth for the fiscal year was led by strong growth in the Gastrointestinal category as well as the International OTC segment, partially offset by declines in the Cough & Cold category and the anticipated limited ability to supply strong demand for Clear Eyes. Reported net income for fiscal 2025 of $214.6 million compared to $209.3 million in the prior year. Reported fiscal 2025 diluted earnings per share was $4.29, compared to $4.17 in the prior year. On a non-GAAP adjusted basis, fiscal 2025 adjusted net income of $226.3 million and adjusted diluted earnings per share of $4.52 compared to adjusted net income and adjusted diluted earnings per share of $211.3 million and $4.21 in the prior year, respectively. The adjustments to net income in fiscal 2025 and fiscal 2024 each include a normalized tax rate adjustment to account for discrete items. Adjustments to net income in fiscal 2025 also included non-cash tradename impairments associated with non-strategic indefinite-lived and finite-lived intangible assets, driven by a deliberate shift in sales and branding toward other strategic brands within our portfolio, and an associated tax adjustment. Free Cash Flow and Balance Sheet The Company's net cash provided by operating activities for the fourth quarter of fiscal 2025 was $61.8 million compared to $66.9 million during the prior year comparable period. Non-GAAP free cash flow in the fourth quarter of fiscal 2025 of $58.4 million decreased compared to $63.8 million in the prior year fourth quarter. The Company's net cash provided by operating activities for the fiscal year 2025 was $251.5 million, compared to $248.9 million during the prior year. Non-GAAP free cash flow in the fiscal year of fiscal 2025 was $243.3 million, increasing 1.6% compared to $239.4 million in the prior year. In fiscal 2025, the Company repurchased approximately 0.7 million shares at a total investment of approximately $51.5 million. The Company's net debt position as of March 31, 2025 was approximately $0.9 billion, resulting in a covenant-defined leverage ratio of 2.4x. Segment Review North American OTC Healthcare: Segment revenues of $248.9 million for the fourth quarter fiscal 2025 increased 7.7% compared to the prior year comparable quarter's segment revenues of $231.1 million. The revenue increase reflected strong GI and Women’s Health category growth, led by growth of the Summer’s Eve, Dramamine, and Fleet brands. For the fiscal year 2025, reported revenues for the North American OTC Healthcare segment were $960.0 million, an increase versus $958.3 million in the prior year. The slightly higher revenues were driven by GI category sales growth, partially offset by lower sales in the Cough & Cold category as well as the limited ability to fully supply demand for Clear Eyes. International OTC Healthcare: Fiscal fourth quarter 2025 revenues of $47.6 million increased 3.7% compared to $45.9 million reported in the prior year comparable period, and increased 7.1% excluding the effects of foreign currency. The revenue performance was driven by broad-based growth in Australia and led by the Hydralyte® brand. For the fiscal year 2025, reported revenues for the International OTC Healthcare segment were $177.8 million, an increase of approximately 6.4% over the prior year revenues of $167.1 million. The revenue growth was led by strong growth for the Hydralyte brand. Fiscal 2026 Initial Outlook Ron Lombardi, Chief Executive Officer, stated, “For fiscal 2026, we anticipate achieving organic revenue of approximately 2% and EPS growth of $4.72 to $4.82, equating to earnings growth of mid-to high-single digits. We are focused on leveraging our unique business attributes and using our proven strategies to help navigate the challenging and volatile macro operating environment, where we currently anticipate an approximate $15 million headwind related to the inflationary impacts of enacted tariffs to date. We plan to leverage our leading portfolio, diverse supply chain, and agile operating model to manage and mitigate these inflationary costs as they arise to achieve our fiscal 2026 earnings outlook.” “Execution of our proven strategy delivered a solid and steady performance in fiscal 2025. We believe our commitment to focused execution, a strong balance sheet, and the attributes of our diverse portfolio of needs-based products leaves us well positioned to continue generating consistent financial results and cash flow in this volatile backdrop, which should generate superior shareholder value creation,” Mr. Lombardi concluded. Initial Fiscal 2026 OutlookRevenue$1,140 to $1,155 millionOrganic Revenue GrowthApproximately 1% to 2%Diluted E.P.S.$4.70 to $4.82Free Cash Flow$245 million or more Fiscal Year End 2025 Conference Call, Accompanying Slide Presentation and Replay The Company will host a conference call to review its fourth quarter and fiscal 2025 results today, May 8, 2025 at 8:30 a.m. ET. The Company provides a live Internet webcast, a slide presentation to accompany the call, as well as an archived replay, all of which can be accessed from the Investor Relations page of the Company's website at http://www.prestigeconsumerhealthcare.com/. To participate in the conference call via phone, participants may register for the call here to receive dial-in details and a unique pin. While not required, it is recommended to join 10 minutes prior to the event start. The slide presentation can be accessed from the Investor Relations page of the Company’s website by clicking on Webcasts and Presentations. A conference call replay will be available for approximately one week following completion of the live call and can be accessed on the Company’s Investor Relations page. Non-GAAP and Other Financial Information In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this release to aid investors in understanding the Company's performance. Each non-GAAP financial measure is defined and reconciled to its most closely related GAAP financial measure in the “About Non-GAAP Financial Measures” section at the end of this earnings release. Note Regarding Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" generally can be identified by the use of forward-looking terminology such as "guidance," "outlook," "may," "will," "would," “believe,” "expectation," "anticipate," “focus,” “plan,” “positioned,” or "continue" (or the negative or other derivatives of each of these terms) or similar terminology. The "forward-looking statements" include, without limitation, statements regarding the Company's future operating results including revenues, organic growth, diluted earnings per share, and free cash flow; the expected impact of tariffs and the Company’s ability to manage related inflationary challenges; and the Company’s ability to enhance shareholder value through its business strategy, diverse product portfolio, solid balance sheet, generation of free cash flow, and efficient capital allocation. These statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including the impact of business and economic conditions, including as a result of evolving U.S. and international tariffs, labor shortages, inflation and geopolitical instability, consumer trends, the impact of the Company’s advertising and marketing and new product development initiatives, customer inventory management initiatives, fluctuating foreign exchange rates, competitive pressures, and the ability of the Company’s manufacturing operations and third party manufacturers and logistics providers and suppliers to meet demand for its products and to avoid inflationary cost increases and disruption as a result of labor shortages. A discussion of other factors that could cause results to vary is included in the Company's Annual Report on Form 10-K for the year ended March 31, 2024 and other periodic reports filed with the Securities and Exchange Commission. About Prestige Consumer Healthcare Inc. Prestige Consumer Healthcare is a leading consumer healthcare products company with sales throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Monistat® and Summer’s Eve® women's health products, BC® and Goody's® pain relievers, Clear Eyes® and TheraTears® eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden's® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia. Visit the Company's website at www.prestigeconsumerhealthcare.com Prestige Consumer Healthcare Inc.Consolidated Statement of Income (Loss) and Comprehensive Income (Loss)(Unaudited) Three Months Ended March 31, YearEnded March 31,(In thousands, except per share data) 2025 2024 2025 2024 Total Revenues 296,518 276,991 1,137,762 1,125,357 Cost of Sales Cost of sales excluding depreciation 124,318 123,014 494,416 492,786 Cost of sales depreciation 2,190 2,160 8,883 8,123 Cost of sales 126,508 125,174 503,299 500,909 Gross profit 170,010 151,817 634,463 624,448 Operating Expenses Advertising and marketing 37,004 37,516 155,723 153,315 General and administrative 27,050 26,465 108,209 106,152 Depreciation and amortization 5,062 5,683 21,290 22,552 Tradename impairment 12,466 — 12,466 — Total operating expenses 81,582 69,664 297,688 282,019 Operating income 88,428 82,153 336,775 342,429 Other expense (income) Interest expense, net 10,759 15,260 47,632 67,160 Other expense (income), net 3,710 (429) 4,954 (756)Total other expense, net 14,469 14,831 52,586 66,404 Income before income taxes 73,959 67,322 284,189 276,025 Provision for income taxes 23,831 17,864 69,584 66,686 Net income $50,128 $49,458 $214,605 $209,339 Earnings per share: Basic $1.01 $0.99 $4.32 $4.21 Diluted $1.00 $0.98 $4.29 $4.17 Weighted average shares outstanding: Basic 49,656 49,833 49,697 49,757 Diluted 50,064 50,310 50,080 50,178 Comprehensive income, net of tax: Currency translation adjustments 2,586 (5,975) (3,083) (2,940)Unrecognized net (loss) gain on pension plans (81) 9 (81) 9 Total other comprehensive income (loss) 2,505 (5,966) (3,164) (2,931)Comprehensive income $52,633 $43,492 $211,441 $206,408 Prestige Consumer Healthcare Inc.Consolidated Balance Sheet(Unaudited) (In thousands)March 31, 2025 2024 Assets Current assets Cash and cash equivalents$97,884 $46,469 Accounts receivable, net of allowance of $16,314 and $16,377, respectively 194,293 176,775 Inventories 147,709 138,717 Prepaid expenses and other current assets 8,442 13,082 Total current assets 448,328 375,043 Property, plant and equipment, net 74,548 76,507 Operating lease right-of-use assets 28,238 11,285 Finance lease right-of-use assets, net 25,056 1,541 Goodwill 527,425 527,733 Intangible assets, net 2,295,350 2,320,583 Other long-term assets 3,273 5,725 Total Assets$3,402,218 $3,318,417 Liabilities and Stockholders' Equity Current liabilities Accounts payable$18,925 $38,979 Accrued interest payable 15,703 15,763 Operating lease liabilities, current portion 6,047 4,658 Finance lease liabilities, current portion 2,490 1,494 Other accrued liabilities 63,458 56,154 Total current liabilities 106,623 117,048 Long-term debt, net 992,357 1,125,804 Deferred income tax liabilities 419,594 403,596 Long-term operating lease liabilities, net of current portion 22,732 7,528 Long-term finance lease liabilities, net of current portion 20,624 172 Other long-term liabilities 5,391 9,185 Total Liabilities 1,567,321 1,663,333 Stockholders' Equity Preferred stock - $0.01 par value Authorized - 5,000 shares Issued and outstanding - None — — Common stock - $0.01 par value Authorized - 250,000 shares Issued – 56,010 shares at March 31, 2025 and 55,501 shares at March 31, 2024 560 555 Additional paid-in capital 593,402 567,448 Treasury stock, at cost – 6,501 shares at March 31, 2025 and 5,680 at March 31, 2024 (277,208) (219,621)Accumulated other comprehensive loss, net of tax (37,659) (34,495)Retained earnings 1,555,802 1,341,197 Total Stockholders' Equity 1,834,897 1,655,084 Total Liabilities and Stockholders' Equity$3,402,218 $3,318,417 Prestige Consumer Healthcare Inc.Consolidated Statement of Cash Flows(Unaudited) Year Ended March 31,(In thousands) 2025 2024 Operating Activities Net income$214,605 $209,339 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 30,173 30,675 Loss on sale or disposal of property and equipment 234 274 Deferred and other income taxes 14,409 23,070 Amortization of debt origination costs 1,754 5,240 Stock-based compensation costs 11,157 14,010 Non-cash operating lease cost 7,247 6,149 Impairment loss 12,466 — Other 1,411 — Changes in operating assets and liabilities, net of effects from acquisition: Accounts receivable (16,327) (6,322)Inventories (9,314) 24,439 Prepaid expenses and other current assets 4,655 (8,214)Accounts payable (19,411) (24,971)Accrued liabilities 6,984 (16,217)Operating lease liabilities (7,630) (7,134)Other (898) (1,412)Net cash provided by operating activities 251,515 248,926 Investing Activities Purchases of property, plant and equipment (8,224) (9,550)Acquisitions and other (9,228) (10,561)Net cash used in investing activities (17,452) (20,111) Financing Activities Term Loan repayments (135,000) (225,000)Payment of debt costs — (769)Payments of finance leases (4,536) (2,827)Proceeds from exercise of stock options 14,802 18,089 Fair value of shares surrendered as payment of tax withholding (5,832) (5,508)Repurchase of common stock (51,509) (25,000)Net cash used in financing activities (182,075) (241,015) Effects of exchange rate changes on cash and cash equivalents (573) 180 Increase (decrease) in cash and cash equivalents 51,415 (12,020)Cash and cash equivalents - beginning of year 46,469 58,489 Cash and cash equivalents - end of year$97,884 $46,469 Interest paid$47,804 $63,248 Income taxes paid$52,117 $59,637 Prestige Consumer Healthcare Inc.Consolidated Statement of IncomeBusiness Segments(Unaudited) Three Months Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$248,949 $47,569 $296,518Cost of sales 107,463 19,045 126,508Gross profit 141,486 28,524 170,010Advertising and marketing 29,794 7,210 37,004Contribution margin$111,692 $21,314 133,006Other operating expenses** 44,578Operating income $88,428 *Intersegment revenues of $1.4 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the three months ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Year Ended March 31, 2025(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$960,010 $177,752 $1,137,762Cost of sales 428,871 74,428 503,299Gross profit 531,139 103,324 634,463Advertising and marketing 129,431 26,292 155,723Contribution margin$401,708 $77,032 478,740Other operating expenses** 141,965Operating income $336,775 *Intersegment revenues of $3.9 million were eliminated from the North American OTC Healthcare segment.**Other operating expenses for the year ended March 31, 2025 includes a tradename impairment charge of $12.5 million. Three Months Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$231,129 $45,862 $276,991Cost of sales 105,729 19,445 125,174Gross profit 125,400 26,417 151,817Advertising and marketing 30,787 6,729 37,516Contribution margin$94,613 $19,688 114,301Other operating expenses 32,148Operating loss $82,153 *Intersegment revenues of $1.2 million were eliminated from the North American OTC Healthcare segment. Year Ended March 31, 2024(In thousands)North American OTCHealthcare International OTCHealthcare ConsolidatedTotal segment revenues*$958,260 $167,097 $1,125,357Cost of sales 429,361 71,548 500,909Gross profit 528,899 95,549 624,448Advertising and marketing 131,494 21,821 153,315Contribution margin$397,405 $73,728 471,133Other operating expenses 128,704Operating loss $342,429 * Intersegment revenues of $3.7 million were eliminated from the North American OTC Healthcare segment. About Non-GAAP Financial Measures In addition to financial results reported in accordance with GAAP, we disclose certain Non-GAAP financial measures ("NGFMs"), including, but not limited to, Non-GAAP Organic Revenues, Non-GAAP Organic Revenue Change Percentage, Non-GAAP EBITDA, Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA, Non-GAAP Adjusted EBITDA Margin, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted Diluted EPS, Non-GAAP Free Cash Flow, and Net Debt. We use these NGFMs internally, along with GAAP information, in evaluating our operating performance and in making financial and operational decisions. We believe that the presentation of these NGFMs provides investors with greater transparency, and provides a more complete understanding of our business than could be obtained absent these disclosures, because the supplemental data relating to our financial condition and results of operations provides additional ways to view our operation when considered with both our GAAP results and the reconciliations below. In addition, we believe that the presentation of each of these NGFMs is useful to investors for period-to-period comparisons of results in assessing shareholder value, and we use these NGFMs internally to evaluate the performance of our personnel and also to evaluate our operating performance and compare our performance to that of our competitors. These NGFMs are not in accordance with GAAP, should not be considered as a measure of profitability or liquidity, and may not be directly comparable to similarly titled NGFMs reported by other companies. These NGFMs have limitations and they should not be considered in isolation from or as an alternative to their most closely related GAAP measures reconciled below. Investors should not rely on any single financial measure when evaluating our business. We recommend investors review the GAAP financial measures included in this earnings release. When viewed in conjunction with our GAAP results and the reconciliations below, we believe these NGFMs provide greater transparency and a more complete understanding of factors affecting our business than GAAP measures alone. NGFMs Defined We define our NGFMs presented herein as follows: Non-GAAP Organic Revenues: GAAP Total Revenues excluding impact of foreign currency exchange rates in the periods presented.Non-GAAP Organic Revenue Change Percentage: Calculated as the change in Non-GAAP Organic Revenues from prior year divided by prior year Non-GAAP Organic Revenues.Non-GAAP EBITDA: GAAP Net Income before interest expense, net, provision for income taxes, and depreciation and amortization.Non-GAAP EBITDA Margin: Calculated as Non-GAAP EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted EBITDA: Non-GAAP EBITDA less tradename impairment.Non-GAAP Adjusted EBITDA Margin: Calculated as Non-GAAP Adjusted EBITDA divided by GAAP Total Revenues.Non-GAAP Adjusted Net Income: GAAP Net Income before tradename impairment, applicable tax impact associated with this item, and normalized tax rate adjustment.Non-GAAP Adjusted Diluted EPS: Calculated as Non-GAAP Adjusted Net Income, divided by the diluted weighted average number of shares outstanding during the period.Non-GAAP Free Cash Flow: Calculated as GAAP Net cash provided by operating activities less cash paid for capital expenditures.Net Debt: Calculated as total principal amount of debt outstanding ($1,000,000 at March 31, 2025 and $1,135,000 at March 31, 2024) less cash and cash equivalents ($97,884 at March 31, 2025 and $46,469 at March 31, 2024). Amounts in thousands. The following tables set forth the reconciliations of each of our NGFMs to their most directly comparable financial measures presented in accordance with GAAP. Reconciliation of GAAP Total Revenues to Non-GAAP Organic Revenues and related Non-GAAP Organic Revenue Change percentage: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Total Revenues$296,518 $276,991 $1,137,762 $1,125,357 Revenue Change 7.0% 1.1% Adjustments: Impact of foreign currency exchange rates — (2,262) — (1,482)Total adjustments — (2,262) — (1,482)Non-GAAP Organic Revenues$296,518 $274,729 $1,137,762 $1,123,875 Non-GAAP Organic Revenue Change 7.9% 1.2% Reconciliation of GAAP Net Income to Non-GAAP EBITDA and related Non-GAAP EBITDA Margin, Non-GAAP Adjusted EBITDA and related Non-GAAP Adjusted EBITDA Margin: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Interest expense, net 10,759 15,260 47,632 67,160 Provision for income taxes 23,831 17,864 69,584 66,686 Depreciation and amortization 7,252 7,843 30,173 30,675 Non-GAAP EBITDA 91,970 90,425 361,994 373,860 Non-GAAP EBITDA Margin 31.0% 32.6% 31.8% 33.2% Adjustments: Tradename impairment 12,466 — 12,466 — Total adjustments 12,466 — 12,466 — Non-GAAP Adjusted EBITDA$104,436 $90,425 $374,460 $373,860 Non-GAAP Adjusted EBITDA Margin 35.2% 32.6% 32.9% 33.2% Reconciliation of GAAP Net Income and GAAP Diluted Earnings Per Share to Non-GAAP Adjusted Net Income and related Non-GAAP Adjusted Diluted Earnings Per Share: Three Months Ended March 31, Year Ended March 31, 2025 2025 Adjusted EPS 20242024 Adjusted EPS 2025 2025 Adjusted EPS 20242024 Adjusted EPS(In thousands, except per share data) GAAP Net Income andDiluted EPS$50,128 $1.00 $49,458$0.98 $214,605 $4.29 $209,339$4.17Adjustments: Tradename impairment 12,466 0.25 — — 12,466 0.25 — —Tax impact of adjustment(1) (2,961) (0.06) — — (2,961) (0.06) — —Normalized tax rate adjustment(2) 6,266 0.13 1,983 0.04 2,236 0.04 1,983 0.04Total adjustments 15,771 0.32 1,983 0.04 11,741 0.23 1,983 0.04Non-GAAP Adjusted Net Income and Adjusted Diluted EPS$65,899 $1.32 $51,441$1.02 $226,346 $4.52 $211,322$4.21 (1) Income tax effect of above adjustment using the normalized tax rate.(2) Income tax adjustment to adjust for discrete income tax items. Note: Amounts may not add due to rounding. Reconciliation of GAAP Net Income to Non-GAAP Free Cash Flow: Three Months Ended March 31, Year EndedMarch 31, 2025 2024 2025 2024 (In thousands) GAAP Net Income$50,128 $49,458 $214,605 $209,339 Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 33,507 22,960 78,851 79,418 Changes in operating assets and liabilities as shown in the Statement of Cash Flows (21,787) (5,511) (41,941) (39,831)Total adjustments 11,720 17,449 36,910 39,587 GAAP Net cash provided by operating activities 61,848 66,907 251,515 248,926 Purchases of property and equipment (3,479) (3,143) (8,224) (9,550)Non-GAAP Free Cash Flow$58,369 $63,764 $243,291 $239,376 Outlook for Fiscal Year 2026: Reconciliation of Projected GAAP Net cash provided by operating activities to Projected Non-GAAP Free Cash Flow: (In millions) Projected FY'26 GAAP Net cash provided by operating activities$255 Additions to property and equipment for cash (10)Projected FY'26 Non-GAAP Free Cash Flow$245 Investor Relations ContactPhil Terpolilli, CFA, 914-524-6819irinquiries@prestigebrands.com

ForexTV

08.05.2025

Dentsply Sirona Reports First Quarter 2025 Results - ForexTV

Net sales of $879 million decreased (7.7%), organic sales decreased (4.4%) including a (4.0%) Byte sales impactGAAP gross margin of 53.0%, GAAP net income of $20 million or $0.10 per shareAdjusted gross margin of 56.3%, adjusted EBITDA margin of 19.0%, adjusted EPS of $0.43Maintaining FY25 outlook for organic sales and adjusted EPS; increasing reported sales due to F/X changes CHARLOTTE, N.C., May 08, 2025 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. ("Dentsply Sirona" or the "Company") (Nasdaq: XRAY) today announced its financial results for the first quarter of 2025. First quarter net sales of $879 million decreased (7.7%) (organic sales decreased (4.4%)) compared to the first quarter of 2024. Foreign currency changes negatively impacted first quarter 2025 net sales by approximately ($30) million. Net income was $20 million, or $0.10 per share, compared to a net income of $18 million, or $0.09 per share in the first quarter of 2024. Adjusted earnings per diluted share were $0.43, compared to $0.42 in the first quarter of 2024. A reconciliation of Non-GAAP measures (including organic sales, adjusted EBITDA and margin, adjusted EPS, adjusted free cash flow conversion, and segment adjusted operating income) to GAAP measures is provided below. "In the first quarter, organic sales were roughly flat excluding the Byte sales impact, with growth in two of our three regions. Adjusted EBITDA margin expanded which primarily reflects the benefits from our transformational initiatives and internal financial discipline. We are delivering progress through customer-centric innovation, customer experience improvements, and operational efficiency, while operating in an increasingly uncertain macroeconomic environment," said Simon Campion, President and Chief Executive Officer. "Looking forward, we are maintaining our outlook for organic sales and adjusted EPS and will continue to focus on improving what is within our control to deliver sustainable long-term performance." Q1 25 Summary Results (GAAP) (in millions, except per share amount and percentages) Q1 25Q1 24YoY Net Sales $879$953(7.7%)Gross Profit $466$506(7.9%)Gross Margin 53.0%53.1% Net Income Attributable to Dentsply Sirona $20$18NMDiluted Earnings Per Share $0.10$0.09NM Q1 25 Summary Results (Non-GAAP)[1] (in millions, except per share amount and percentages) Q1 25Q1 24YoY Net Sales $879$953(7.7%)Organic Sales Growth % (4.4%)Adjusted Gross Profit $495$540(8.3%)Adjusted Gross Margin 56.3%56.6% Adjusted EBITDA $168$1604.2%Adjusted EBITDA Margin 19.0%16.8% Adjusted EPS $0.43$0.423.7% NM - not meaningfulPercentages are based on actual values and may not reconcile due to rounding.[1] Organic sales growth, adjusted gross profit, adjusted EBITDA, and adjusted EPS are Non-GAAP financial measures which exclude certain items. Please refer to "Non-GAAP Financial Measures" below for a description of these measures and to the tables at the end of this release for a reconciliation between GAAP and Non-GAAP measures. Q1 25 Segment Results Net Sales Growth % Organic Sales Growth % Connected Technology Solutions (4.7%) (0.5%)Essential Dental Solutions (2.7%) 0.4%Orthodontic and Implant Solutions (20.0%) (17.7%)Wellspect Healthcare 3.4% 8.0%Total (7.7%) (4.4%) Q1 25 Geographic Results Net Sales Growth % Organic Sales Growth % United States (15.2%) (14.9%)Europe (3.4%) 1.1%Rest of World (2.8%) 3.1%Total (7.7%) (4.4%) Cash Flow and Liquidity Operating cash flow in the first quarter of 2025 was $7 million, compared to $25 million in the first quarter of 2024, primarily due to the unfavorable timing of collections on accounts receivable and a build of inventory during the quarter. In the first quarter of 2025, the Company paid $32 million in dividends. The Company had $398 million of cash and cash equivalents as of March 31, 2025. 2025 Outlook The Company is maintaining its 2025 outlook for organic sales in the range of down (4.0%) to (2.0%), and adjusted EPS in the range of $1.80 to $2.00. The Company is increasing its expected reported sales to a new range of $3.60 billion to $3.70 billion due to changes in foreign exchange rates. This outlook reflects the current state of tariffs and trade policy. Other 2025 outlook assumptions are included in the first quarter 2025 earnings presentation posted on the Investors section of the Dentsply Sirona website at https://investor.dentsplysirona.com. The Company does not provide forward-looking estimates on a GAAP basis as certain information, which may include, but is not limited to, restructuring charges, transformation-related costs, impairment charges, certain tax adjustments, and other significant items, is not available without unreasonable effort and cannot be reasonably estimated. The exact amounts of these charges or credits are not currently determinable but may be significant. Conference Call/Webcast InformationDentsply Sirona’s management team will host an investor conference call and live webcast on May 8th, 2025, at 8:30 am ET. A live webcast of the investor conference call and a presentation related to the call will be available on the Investors section of the Company’s website at https://investor.dentsplysirona.com. For those planning to participate on the call, please register at https://register-conf.media-server.com/register/BIb73584ce1e6f4d81b57af1bfbeec6816. A webcast replay of the conference call will be available on the Investors section of the Company’s website following the call. About Dentsply SironaDentsply Sirona is the world’s largest diversified manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world-class brands. Dentsply Sirona’s innovative products provide, high-quality, effective and connected solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products. Contact Information:Investors:Andrea DaleyVice President, Investor Relations+1-704-591-8631InvestorRelations@dentsplysirona.com Press:Marion Par-WeixlbergerVice President, Public Relations & Corporate Communications+43 676 848414588marion.par-weixlberger@dentsplysirona.com Forward-Looking Statements and Associated Risks All statements in this Press Release that do not directly and exclusively relate to historical facts constitute "forward-looking statements." Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control, including those described in Part I, Item 1A, "Risk Factors" of the Company's most recent Annual Report on Form 10-K, and any updating information or other factors which may be described in the Company’s other filings with the Securities and Exchange Commission (the "SEC"). No assurance can be given that any expectation, belief, goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this Press Release or to reflect the occurrence of unanticipated events. Investors should understand it is not possible to predict or identify all such factors or risks. As such, you should not consider the risks identified in the Company’s SEC filings to be a complete discussion of all potential risks or uncertainties associated with an investment in the Company. DENTSPLY SIRONA INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(in millions, except per share amounts)(unaudited) Three Months Ended March 31, 2025 2024 Net sales$879 $953 Cost of products sold 413 447 Gross profit 466 506 Selling, general, and administrative expenses 358 415 Research and development expenses 36 42 Intangible asset impairments — 6 Restructuring and other costs 9 1 Operating income 63 42 Other income and expenses: Interest expense, net 19 18 Other (income) expense, net — (7) Income before income taxes 44 31 Provision for income taxes 25 14 Net income 19 17 Less: Net loss attributable to noncontrolling interest (1) (1) Net income attributable to Dentsply Sirona$20 $18 Earnings per common share attributable to Dentsply Sirona: Basic$0.10 $0.09 Diluted$0.10 $0.09 Weighted average common shares outstanding: Basic 199.1 207.4 Diluted 199.8 208.5 DENTSPLY SIRONA INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in millions, except share and per share amounts)(unaudited) March 31, 2025 December 31, 2024 Assets Current Assets: Cash and cash equivalents$398 $272Accounts and notes receivable-trade, net 604 556Inventories, net 612 564Prepaid expenses and other current assets 364 354Total Current Assets 1,978 1,746 Property, plant, and equipment, net 791 766Operating lease right-of-use assets, net 133 136Identifiable intangible assets, net 1,212 1,207Goodwill 1,632 1,597Other noncurrent assets 304 301Total Assets$6,050 $5,753 Liabilities and Equity Current Liabilities: Accounts payable$276 $241Accrued liabilities 738 754Income taxes payable 37 45Notes payable and current portion of long-term debt 742 549Total Current Liabilities 1,793 1,589 Long-term debt 1,593 1,586Operating lease liabilities 88 91Deferred income taxes 134 129Other noncurrent liabilities 432 415Total Liabilities 4,040 3,810 Total Equity 2,010 1,943 Total Liabilities and Equity$6,050 $5,753 DENTSPLY SIRONA INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(in millions)(unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net income$19 $17 Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 34 32 Amortization of intangible assets 45 54 Indefinite-lived intangible asset impairment — 6 Deferred income taxes 1 (9)Stock-based compensation expense 10 11 Other non-cash expense 9 19 Changes in operating assets and liabilities: Accounts and notes receivable-trade, net (31) 27 Inventories, net (26) (5)Prepaid expenses and other current assets (1) (28)Other noncurrent assets 4 (6)Accounts payable 14 (28)Accrued liabilities (44) (50)Income taxes (12) (2)Other noncurrent liabilities (15) (13)Net cash provided by operating activities 7 25 Cash flows from investing activities: Capital expenditures (19) (34)Cash received on derivative contracts 1 — Cash paid on derivative contracts — (9)Proceeds from sale of property, plant, and equipment 1 — Net cash used in investing activities (17) (43) Cash flows from financing activities: (Repayments) proceeds on short-term borrowings, net (272) 23 Proceeds from 364-day bridge loan 435 — Cash dividends paid (32) (29)Repayments on long-term borrowings (2) (3)Cash paid for deferred financing costs (3) — Other financing activities, net (3) (5)Net cash provided by (used in) financing activities 123 (14)Effect of exchange rate changes on cash and cash equivalents 13 (11)Net increase (decrease) in cash and cash equivalents 126 (43)Cash and cash equivalents at beginning of period 272 334 Cash and cash equivalents at end of period$398 $291 Supplemental disclosures of cash flow information: Interest paid, net of amounts capitalized$13 $15 Non-cash investing activities: Property, plant and equipment in accounts payable at end of period$22 $24 Exchange of inventory for naming and other rights$14 $— Non-GAAP Financial Measures In addition to results determined in accordance with U.S. generally accepted accounting principles ("US GAAP"), the Company provides certain measures in this press release, described below, which are not calculated in accordance with US GAAP and therefore represent Non-GAAP measures. These Non-GAAP measures are used by the Company to measure its performance and may differ from those used by other companies. These Non-GAAP measures should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with US GAAP. Management believes that these Non-GAAP measures are helpful as they provide a measure of the results of operations, and are frequently used by investors and analysts to evaluate the Company’s performance exclusive of certain items that impact the comparability of results from period to period, and which may not be indicative of past or future performance of the Company. Organic Sales The Company defines "organic sales" as the reported net sales adjusted for: (1) net sales from acquired businesses recorded prior to the first anniversary of the acquisition; (2) net sales attributable to disposed businesses in both the current and prior year periods; and (3) the impact of foreign currency changes, which is calculated by translating current period net sales using the comparable prior period's foreign currency exchange rates. Adjusted Operating Income and Margin Adjusted operating income is computed by excluding the following items from operating income (loss) as reported in accordance with US GAAP: (1) Business combination-related costs and fair value adjustments. These adjustments include costs related to consummating and integrating acquired businesses, as well as net gains and losses related to disposed businesses. In addition, this category includes the post-acquisition roll-off of fair value adjustments recorded related to business combinations, except for amortization expense of purchased intangible assets noted below. Although the Company is regularly engaged in activities to find and act on opportunities for strategic growth and enhancement of product offerings, the costs associated with these activities may vary significantly between periods based on the timing, size and complexity of acquisitions and as such may not be indicative of past and future performance of the Company. (2) Restructuring-related charges and other costs. These adjustments include costs related to the implementation of restructuring initiatives, including but not limited to, severance costs, facility closure costs, and lease and contract termination costs, as well as related professional service costs associated with these restructuring initiatives and global transformation activity. The Company is continually seeking to take actions that could enhance its efficiency; consequently, restructuring charges may recur but are subject to significant fluctuations from period to period due to the varying levels of restructuring activity, and as such may not be indicative of past and future performance of the Company. Other costs include gains and losses on the sale of property, legal settlements, executive separation costs, write-offs of inventory as a result of product rationalization, and changes in accounting principles recorded within the period. This category also includes costs related to investigations and associated legal cases and remediation activities, which primarily include legal, accounting and other professional service fees, as well as turnover and other employee-related costs. (3) Goodwill and intangible asset impairments. These adjustments include charges related to goodwill and intangible asset impairments. (4) Amortization of purchased intangible assets. This adjustment excludes the periodic amortization expense related to purchased intangible assets, which are recorded at fair value. Although these costs contribute to revenue generation and will recur in future periods, their amounts are significantly impacted by the timing and size of acquisitions, and as such may not be indicative of the future performance of the Company. (5) Fair value and credit risk adjustments. These adjustments include the non-cash mark-to-market changes in fair value associated with pension assets and obligations, the credit risk component of hedging instruments, and equity-method investments. Although these adjustments are recurring in nature, they are subject to significant fluctuations from period to period due to changes in the underlying assumptions and market conditions. The non-service component of pension expense is a recurring item, however it is subject to significant fluctuations from period to period due to changes in actuarial assumptions, interest rates, plan changes, settlements, curtailments, and other changes in facts and circumstances. As such, these items may not be indicative of past and future performance of the Company. Adjusted operating margin is calculated by dividing adjusted operating income by net sales. Adjusted Gross Profit and Margin Adjusted gross profit is computed by excluding from gross profit the impact of any of the above adjustments that affect either sales or cost of sales. Adjusted gross margin is calculated by dividing adjusted gross profit by net sales. Adjusted Net Income (Loss) Adjusted net income (loss) consists of net income (loss) as reported in accordance with US GAAP, adjusted to exclude the items identified above, as well as the related income tax impacts of those items. The income tax effect of each pre-tax adjustment was determined based on the tax rate of the jurisdiction in which the related pre-tax adjustment was recorded. Additionally, net income is adjusted for other tax-related adjustments such as discrete or significant adjustments to valuation allowances and other uncertain tax positions, final settlement of income tax audits, discrete tax items resulting from the implementation of restructuring initiatives, the windfall or shortfall relating to exercise of employee stock-based compensation, any difference between the interim and annual effective tax rate, and adjustments relating to prior periods. Management believes that these adjustments for certain tax-related matters are helpful to normalize the tax effects of certain discrete or significant items that are irregular or infrequent in timing and may not be indicative of past or future performance of the Company. Adjusted EBITDA and Margin In addition to the adjustments described above in arriving at adjusted net income, adjusted EBITDA is computed by further excluding any remaining interest expense, net, income tax expense, depreciation and amortization. Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by net sales. Adjusted Earnings (Loss) Per Diluted Share Adjusted earnings (loss) per diluted share (adjusted EPS) is computed by dividing adjusted earnings (loss) attributable to Dentsply Sirona stockholders by the diluted weighted average number of common shares outstanding. Adjusted Free Cash Flow and Conversion The Company defines adjusted free cash flow as net cash provided by operating activities minus capital expenditures during the same period, and adjusted free cash flow conversion is defined as adjusted free cash flow divided by adjusted net income (loss). Management believes this Non-GAAP measure is important for use in evaluating the Company’s financial performance as it measures our ability to efficiently generate cash from our business operations relative to earnings. It should be considered in addition to, rather than as a substitute for, net income (loss) as a measure of our performance or net cash provided by operating activities as a measure of our liquidity. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) A reconciliation of reported net sales to organic sales by geographic region is as follows: Three Months Ended March 31, 2025 Q1 2025 Change Three Months Ended March 31, 2024(in millions, except percentages) U.S.EuropeROWTotal U.S.EuropeROWTotal U.S.EuropeROWTotal Net sales $302$362$215$879 (15.2%)(3.4%)(2.8%)(7.7%) $356$376$221$953Foreign exchange impact (0.3%)(4.5%)(5.9%)(3.3%) Organic sales (14.9%)1.1%3.1%(4.4%) Percentages are based on actual values and may not reconcile due to rounding. A reconciliation of reported net sales to organic sales by segment is as follows: Three Months Ended March 31, 2025 Q1 2025 Change Three Months Ended March 31, 2024(in millions, except percentages) Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Connected Technology SolutionsEssential Dental SolutionsOrthodontic and Implant SolutionsWellspect HealthcareTotal Net sales $235$353$217$74$879 (4.7%)(2.7%)(20.0%)3.4%(7.7%) $247$364$271$71$953Foreign exchange impact (4.2%)(3.1%)(2.3%)(4.6%)(3.3%) Organic sales (0.5%)0.4%(17.7%)8.0%(4.4%) Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) The Company’s segment adjusted operating income for the three months ended March 31, 2025 and 2024 was as follows: Three Months Ended March 31,(in millions) 2025 2024 Connected Technology Solutions $7 $2 Essential Dental Solutions 135 115 Orthodontic and Implant Solutions 37 42 Wellspect Healthcare 26 23 Segment adjusted operating income 205 182 Reconciling items expense (income): All other (a) 87 79 Intangible asset impairments — 6 Restructuring and other costs 9 1 Interest expense, net 19 18 Other (income) expense, net — (7)Amortization of intangible assets 45 54 Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations 1 — Income before income taxes $44 $31 (a) Includes unassigned corporate headquarters costs. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) For the three months ended March 31, 2025, a reconciliation of selected items as reported in the Condensed Consolidated Statements of Operations to adjusted Non-GAAP items is as follows: (in millions, except percentages and per share data) Gross Profit Operatingincome Net IncomeAttributable toDentsply Sirona(a) Diluted EPSGAAP $466 $63 $20 $0.10Non-GAAP Adjustments: Amortization of Purchased Intangible Assets 28 45 33 0.16Restructuring-Related Charges and Other Costs — 25 19 0.10Business Combination-Related Costs and Fair Value Adjustments 1 1 1 —Income Tax-Related Adjustments — — 14 0.07Adjusted Non-GAAP $495 $134 $87 $0.43GAAP Margin 53.0% 7.1% Adjusted Non-GAAP Margin 56.3% 15.1% Weighted average common shares outstanding used in calculating diluted GAAP net loss per common share 199.8Weighted average common shares outstanding used in calculating diluted Non-GAAP net income per common share 199.8(a) The tax expense on the Non-GAAP adjustments totals $4 million which is inclusive of the $14 million income tax-related adjustment above. Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) For the three months ended March 31, 2024, a reconciliation of selected items as reported in the Condensed Consolidated Statements of Operations to adjusted Non-GAAP items is as follows: (in millions, except percentages and per share data) Gross Profit Operatingincome Net IncomeAttributable toDentsply Sirona(a) Diluted EPSGAAP $506 $42 $18 $0.09Non-GAAP Adjustments: Amortization of Purchased Intangible Assets 31 54 40 0.19Restructuring-Related Charges and Other Costs 3 17 13 0.06Goodwill and Intangible Asset Impairments — 6 4 0.02Business Combination-Related Costs and Fair Value Adjustments — 1 1 —Income Tax-Related Adjustments — — 11 0.06Adjusted Non-GAAP $540 $120 $87 $0.42GAAP Margin 53.1% 4.4% Adjusted Non-GAAP Margin 56.6% 12.6% Weighted average common shares outstanding used in calculating diluted GAAP net loss per common share 208.5Weighted average common shares outstanding used in calculating diluted Non-GAAP net income per common share 208.5(a) The tax expense on the Non-GAAP adjustments totals $9 million, which is inclusive of the $11 million income tax-related adjustment above. Percentages are based on actual values and may not reconcile due to rounding. DENTSPLY SIRONA INC. AND SUBSIDIARIES(In millions, except percentages)(unaudited) A reconciliation of reported net income attributable to Dentsply Sirona to adjusted EBITDA and margin for the three months ended March 31, 2025 and 2024 is as follows: Three Months Ended March 31,(in millions, except percentages) 2025 2024 Net income attributable to Dentsply Sirona $20 $18 Interest expense, net 19 18 Income tax expense 25 14 Depreciation(1) 33 32 Amortization of purchased intangible assets 45 54 Restructuring-related charges and other costs 25 17 Goodwill and intangible asset impairments — 6 Business combination-related costs and fair value adjustments 1 1 Adjusted EBITDA $168 $160 Net sales $879 $953 Adjusted EBITDA margin 19.0% 16.8% (1) Excludes those depreciation-related amounts which were included as part of the business combination-related adjustments and Restructuring-related charges and other costs.Percentages are based on actual values and may not reconcile due to rounding. A reconciliation of adjusted free cash flow conversion for the three months ended March 31, 2025 and 2024 is as follows: Three Months Ended March 31,(in millions, except percentages) 2025 2024 Net cash provided by operating activities $7 $25 Capital expenditures (19) (34)Adjusted free cash flow $(12) $(9) Adjusted net income $87 $87 Adjusted free cash flow conversion (14%) (10%) Percentages are based on actual values and may not reconcile due to rounding.

RegtechTimes

08.05.2025

Currency Coup! Ukraine Prepares to Divorce the Dollar for Euro - Regtechtimes

Ukraine is seriously thinking about changing the main foreign currency it links its national money, the hryvnia, to. For a long time, Ukraine used the US dollar as its key reference currency.

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Discover Latest #Foreign Currency News, Articles and Videos with Contenting

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