Financial report – Storming Heaven For Alyssa http://stormingheavenforalyssa.com/ Mon, 29 Nov 2021 11:14:53 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://stormingheavenforalyssa.com/wp-content/uploads/2021/10/icon-25.png Financial report – Storming Heaven For Alyssa http://stormingheavenforalyssa.com/ 32 32 The Modular Group publishes its financial report for the third quarter of 2021 https://stormingheavenforalyssa.com/the-modular-group-publishes-its-financial-report-for-the-third-quarter-of-2021/ Mon, 29 Nov 2021 08:00:00 +0000 https://stormingheavenforalyssa.com/the-modular-group-publishes-its-financial-report-for-the-third-quarter-of-2021/ LONDON, November 29, 2021 / PRNewswire / – Modular Group (together with its subsidiaries, the “Group”), Europe and Asia Pacific leader in business services specializing in modular infrastructure and services, is pleased to report another solid performance for the third quarter of 2021. For the three months at September 30, 2021, the Group achieved a […]]]>

LONDON, November 29, 2021 / PRNewswire / – Modular Group (together with its subsidiaries, the “Group”), Europe and Asia Pacific leader in business services specializing in modular infrastructure and services, is pleased to report another solid performance for the third quarter of 2021.

For the three months at September 30, 2021, the Group achieved a total turnover of 372 million euros, up 11% compared to the previous year, including acquisitions, despite some delays in the start-up of new projects, particularly commercial ones.

The utilization rate remained at 87% at the end of the third quarter (85%: Q3 2020) while rental units increased by 17% (up from 36,600 to 251,000). Rents increased by 8,700 excluding acquisitions.

Organic EBITDA increased by 8% thanks to continued progress against the Group’s strategic objectives. Including mergers and acquisitions, EBITDA increased 22% to € 123 million as recent acquisitions continued to perform well.

Cash conversion remained strong at 92% ahead of growth and non-fleet investments with discretionary growth investments supporting units on rent increases.

Net leverage reduced to c. 4.7 times the underlying pro forma EBITDA, compared to 5.1 times at the end of the third quarter of 2020.

The Group continues to have a positive dynamic through its four strategic objectives thanks to granular performance management at branch level to optimize volume and margin, an efficient cost base, efficient capital investment and a strategy of targeted acquisition.

At June 27, Modulaire announced that its shareholders have reached an agreement to sell the Group to investment funds managed by Brookfield Business Partners LP The transaction, which is subject to customary regulatory and competition clearances, is expected to be finalized in december 2021.

Mark Higson, the CEO of the Modular Group declared: The implementation of our strategy continues to drive our strong operational and financial performance in our business.

Our data-driven business and operational focus, combined with stimulus packages announced by governments in our key markets, means we are well positioned for the future. We have a strong M&A portfolio and, with a healthy balance sheet and a proven ability to execute, we are well positioned to take advantage of these opportunities.

We are all extremely excited about the opportunities to continue to drive Modular’s growth under the Brookfield ownership. “

About the Modular Group

The Modular Group is a European leader in modular infrastructure and services. We create smart spaces for people to live, work and learn. Our company is designed to help customers find the right space solution, whatever their requirements. The Modular Group is present in 25 countries with around 288,000 modular spaces and portable storage units and 4,400 remote accommodation rooms. The company operates under the Algeco name in Europe and Scandinavia, Elliott, Advanté, Carter and Procomm in the UK, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen at The Netherlands, Tecnifor and Locabox in Italy, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For more information:
Investor Relations: Phil Vellacott
[email protected]
+44 (0) 7841 563541

Media inquiries: Tulchan Communications
[email protected]
+44 (0) 207 353 4200

SOURCE Modular Group


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Notification of the availability of Rémy Cointreau’s 2021 half-year financial report https://stormingheavenforalyssa.com/notification-of-the-availability-of-remy-cointreaus-2021-half-year-financial-report/ Thu, 25 Nov 2021 07:44:43 +0000 https://stormingheavenforalyssa.com/notification-of-the-availability-of-remy-cointreaus-2021-half-year-financial-report/ PARIS, November 25, 2021– (COMMERCIAL THREAD) – Regulatory news: Rémy Cointreau (Paris: RCO) announces that its half-year financial report for the half-year ended September 30, 2021 is publicly available and accessible online (connect). About Rémy Cointreau All over the world there are customers looking for exceptional experiences, customers who know that a wide range of […]]]>

PARIS, November 25, 2021– (COMMERCIAL THREAD) – Regulatory news:

Rémy Cointreau (Paris: RCO) announces that its half-year financial report for the half-year ended September 30, 2021 is publicly available and accessible online (connect).

About Rémy Cointreau

All over the world there are customers looking for exceptional experiences, customers who know that a wide range of terroirs means a variety of flavors. Their exacting standards are aligned with our expertise – the finely honed skills that we pass from generation to generation. The time these customers devote to savoring our products is a tribute to all those who have worked to develop them. It is for these men and women that the French family group Rémy Cointreau protects its terroirs, cultivates centuries-old exceptional spirits and is committed to keeping them always modern. The Group’s portfolio includes 14 unique brands, such as Rémy Martin and Louis XIII cognacs, and Cointreau liqueur. Rémy Cointreau has only one ambition: to become the world leader in exceptional spirits. To do this, it relies on the commitment and creativity of its 1,850 employees and on the distribution subsidiaries located in the Group’s core markets.

Rémy Cointreau is listed on Euronext Paris.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211124006233/en/

Contacts

Investor relations: +33 6 03 65 46 78


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Sumter County Council Reviews Financial Report and Discusses ARPA Funds https://stormingheavenforalyssa.com/sumter-county-council-reviews-financial-report-and-discusses-arpa-funds/ Fri, 12 Nov 2021 11:00:00 +0000 https://stormingheavenforalyssa.com/sumter-county-council-reviews-financial-report-and-discusses-arpa-funds/ Ahead of the regular Sumter County Council meeting on Tuesday, a special meeting was held to discuss the county’s financial report and the American Rescue Plan Act. Sumter County Finance Director Uvette Rogers provided council with a quarterly update on the use of general county funds from its current fiscal year budget. Sumter County’s Fiscal […]]]>

Ahead of the regular Sumter County Council meeting on Tuesday, a special meeting was held to discuss the county’s financial report and the American Rescue Plan Act.

Sumter County Finance Director Uvette Rogers provided council with a quarterly update on the use of general county funds from its current fiscal year budget.

Sumter County’s Fiscal Year 2022 budget was approved in June, ready to begin July 1. Rogers presented the board with a starting general fund amount of $ 56,743,721 in income with expenses of $ 57,466,022, showing a change of $ 722,301 in the fund balance.

For three months, from July 1 to September 30, the county reported $ 4.7 million in revenue, equivalent to about 8% of general funds, and $ 13.2 million in expenses, or about 23% of funds, used on budget. until there.

According to Rogers, the amount of funds used by category varied and will continue to vary throughout the year. For example, taxes, which have so far only used 5% of their budget, will experience activity when collecting taxes in January 2022.



City Councilor Charles Edens asked why leisure spending was 34%, which he thought was high.

Sumter County Administrator Gary Mixon said the percentage came from summer sports activities, which was normal. He said recreation will decrease in the winter and resume in the spring.

Edens also asked if the transportation spending was 30%, and Rogers said it was the Sumter County Airport activities that were happening at the start of the fiscal year.

“We’re following pretty much where we expect to be,” Mixon said.

The Board also received an overview and update on ARPA funds during the special meeting.

Sumter County received $ 10 million in ARPA funds in response to the COVID-19 public health emergency to offset lost earnings, bolster economic recovery and provide a bonus to essential workers.

Mixon reviewed ongoing plans approved by the council for the first phase of the county’s many incremental allocations, which included funding for new ambulances and electric stretchers for Sumter County EMS, Sheriff’s Bonus, EMS salary adjustments, lost income replacement, HVAC art gallery replacement, full sheriff- body scan system, fire protection gear, coroner’s cooler and radios, library mobile correspondence, museum COVID-19 budget request, COVID-19 budget request gallery, Crystal Lakes shelter, three fire station HVAC replacements, and community mini-grants, all equal $ 5,755,138.

Just under $ 4.5 million remains uncommitted, but Mixon’s proposed council approves county staff’s phase two project request to fund the mobile home repair program for mobile homes 20 years and older , an EMS ambulance contract, a bonus for county employees and repairs to Heise County Building, which houses the State Department of Health and Environmental Control. Phase two will be equivalent to $ 4,350,000.



The Council unanimously approved the projects for phase two.

“This money has been both a blessing and a curse,” Mixon told the council. “It’s definitely a blessing to have it, but you’ve got all the work to do and trying to compare all of this information and weigh all the conversations and discussions.”

Mixon also shared with the board a few future projects to consider with the next $ 10 million in ARPA funds expected to arrive in May 2022.

These projects included broadband expansion; renovations of community centers in Shiloh, Rafting Creek and Delaine / School centers; no more ambulances and electric stretchers; water service upgrades; expansion of the landfill; paving of the recycling center; county building renovations at the Sumter County Civic Center, Patriot Hall, and Judicial Center; and other possible ideas from council members, including potential road renovations.

An executive meeting was held at the start of the meeting for information purposes. No action was taken.


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Breakdown of Cedar City’s Campaign Financial Report for Mayor’s Run https://stormingheavenforalyssa.com/breakdown-of-cedar-citys-campaign-financial-report-for-mayors-run/ https://stormingheavenforalyssa.com/breakdown-of-cedar-citys-campaign-financial-report-for-mayors-run/#respond Fri, 29 Oct 2021 23:35:40 +0000 https://stormingheavenforalyssa.com/breakdown-of-cedar-citys-campaign-financial-report-for-mayors-run/ It is the first time that the finances of the mayoral race have been disclosed since the candidates did not have to participate in an August primary as the candidates for the city council did. Between the two elections, the mayoral race was the most expensive even with fewer candidates. A total of $ 236,659.39 […]]]>

It is the first time that the finances of the mayoral race have been disclosed since the candidates did not have to participate in an August primary as the candidates for the city council did. Between the two elections, the mayoral race was the most expensive even with fewer candidates. A total of $ 236,659.39 was raised and $ 182,242.34 spent between the two candidates, outgoing mayor Maile Wilson Edwards and challenger Garth Green, a local businessman who self-funded about 99% of his campaign. .

Meanwhile, in the city council election, the four candidates raised just under $ 40,000 and spent about $ 35,700. By far the race’s biggest donor to city council was Green, the mayoral race challenger, who donated a total of $ 22,000 to Derek Morton and Ron Riddle. They each received $ 11,000 from the GW Green Family Limited Partnership.

More: Thousands Won or Lost: Cedar City Council Candidate Campaign Funding Reports Released

The full campaign funding reports can be viewed by clicking on this link.

Ballots for the Cedar City election have been delayed in dispatching, but the postmark deadline for mail-in ballots is still November 1. There are also expanded voting options due to the delay, including early voting on Saturdays from 10 a.m. to 2 p.m. at Cedar City Council Chambers (10 N Main St, Cedar City) and the County Courthouse. Railway (68 South 100 East, Parowan).

Residents can also cast ballots at drop-off points across Iron County until 8 p.m. on Election Day.

Dropbox locations for Iron County

Garth Green

Cedar City Office – 10 N Main St, Cedar City. Parowan Town Office – 35 E 100 N, Parowan. County Clerk’s Office – 68 S 100 E, Parowan. Enoch Town Office – 900 East Midvalley Road, Enoch. Paragonah Town Hall, 44 N 100 E, Paragonah. Kanarraville Town Hall, 40 S Main, Kanarraville Town Hall Brian Head – 56 North Highway 143, Brian Head Dixie Power Office – 71 East Highway 56, candidates for mayor of Beryl

Total contributions: $ 130,575.93

Total expenses: $ 130,575.93

Final balance: $ 0

Green is running to overthrow two-term holder Wilson Edwards for mayor. The former CEO of plumbing procurement led the most expensive campaign of any candidate in the Cedar City election spending $ 130,575.93, with the bill for that campaign mostly paid by a donor, the limited partnership from the GW Green family, which is run by Green and his wife. Wendy.

The Green family donated $ 129,813.25 to Green’s campaign, which represents 99.4% of all funds used by Green. When asked why he spent six figures to be mayor of a town of just over 35,000 and a weak non-voting mayor post, Green told The Spectrum he was “investing “in Cedar City with his time, his money and his experience.

“I’m self-funded because I don’t want to feel obligated to anyone, any group or any company. I just want to make a commitment to the people of Cedar, ”Green wrote in an email to The Spectrum.

The biggest expense for Green was the political consulting fee he paid David Kyle Political Marketing approximately $ 24,500. But that wasn’t the only expense that cost over $ 20,000, Green also spent just over $ 20,600 on direct mail postcards from Salt Lake Printing and Mail.

Other than his own contribution, the largest donation Green received was $ 95. A total of six people donated to Green’s campaign.

The budget for posters, hats and campaign shirts for Green was $ 12,100 and the graphic design budget for him was just over $ 6,700 which he spent on Robert Ennis.

Advertising was a big expense for Green who bought advertisements in print, on the Internet and on the radio. He spent $ 14,000 on advertising at Southwest Publishing, a company that produces several magazines, including Iron County Today. Green also bought internet ads spending just over $ 6,500 on Facebook and Google ads. Radio ads were the cheapest for Green, who bought just over $ 5,000 worth of ads from Cherry Creek Media.

News Business Highlights

  • Breakdown of Cedar City’s Campaign Financial Report for Mayor’s Run
  • Check out all the news and articles for business news updates.
Disclaimer: If you need to update / change this article, please visit our help center. For the latest updates Follow us on googIe New


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Norwich City publish financial report for 2020-21 season https://stormingheavenforalyssa.com/norwich-city-publish-financial-report-for-2020-21-season/ https://stormingheavenforalyssa.com/norwich-city-publish-financial-report-for-2020-21-season/#respond Wed, 27 Oct 2021 08:02:59 +0000 https://stormingheavenforalyssa.com/norwich-city-publish-financial-report-for-2020-21-season/ Posted: 9 a.m. on October 27, 2021 There is reassuring familiarity with Norwich City’s annual financial results after managing to post a profit of £ 21.5million as the Canaries soar to the league title, despite the continued impacts of Covid-19 . In total, City estimates that the pandemic forcing games behind closed doors has cost […]]]>

Posted:
9 a.m. on October 27, 2021



There is reassuring familiarity with Norwich City’s annual financial results after managing to post a profit of £ 21.5million as the Canaries soar to the league title, despite the continued impacts of Covid-19 .

In total, City estimates that the pandemic forcing games behind closed doors has cost them around £ 30million in expected revenue since its outbreak, but their finances make for a rather heartwarming read despite these challenges.

Familiarity comes from a set of 2020-2021 accounts – for the 11 months through June 30 – which once again tell the story of a club run in a reasonable and sustainable manner while long-term health is priority over the financial risks that a funded auto club should pursue short-term success.

So despite the pandemic forcing football behind closed doors and the collapse of some revenue streams, City have still been able to invest £ 4.2million in improving the infrastructure of Carrow Road and the Lotus Training Center, as well as £ 250,000 to complete community sports. Foundation Community Center near Hellesdon, The Nest.

With finances in such a delicate state for many EFL clubs – with transfer embargoes for clubs like Hull and Reading, and point deductions for Derby and Sheffield on Wednesday in the past year – and huge debts of continuing concern in the league, Norwich continue to chase their Premier League Dream amid relative safety.

City were able to spend £ 52.7million in the recent summer transfer window following this year’s promotion, and £ 22.7million in additional fees could follow as well, mainly depending on whether the survival of the Premier League can be reached – as shown by post-balance sheet transactions.

However, this self-financing status is inevitable.

Without a £ 48.8million profit on player sales in FY20-21 – mostly sales of Emi Buendia, Ben Godfrey and Jamal Lewis – then the Canaries would have recorded an operating loss before tax of 26.6 pounds sterling. m

This is where familiarity comes into play, even with some leeway allowed for the pandemic, as door revenue dropping from £ 7.6million to just £ 118,000 due to most games played. without spectators, or catering revenues of £ 4.6million to £ 415,000 with club restaurants forced to close.

It’s the drop in turnover, mainly due to broadcast revenue, that City supporters will recognize, however – after the club’s third relegation in seven seasons.

Returning to the Championship, turnover fell from £ 119.3million to £ 57.2million as broadcast revenue fell 47% to £ 90.2million in Premier League at 48.7million – a significant portion of which comes from Premier League parachute payments for relegated clubs. .

Among the various facts, figures and required financial audits included in the report is the “going concern” section, which indicates that the financial forecasts have been made until the end of 2023-24 and that the chances that the City encountering financial difficulties in the next 12 months are “considered distant”.

This is in light of the continuing economic threat from Covid-19, in anticipation of hard hit income again, as if football is being forced to back down behind closed doors.

One element of football’s finances that is often overlooked is that promoted teams do not get Premier League money when they arrive – estimated at almost £ 100million for the bottom team – but in stages .

Likewise, transfers are often structured in a variety of ways as clubs process multi-million pound payments. This is why City currently owe just over £ 54million to other clubs, around half of which is owed in the current fiscal year.

Personnel costs – the majority of which are salaries – accounted for 116% of revenue in the successful 2020-21 season, which included promotion bonuses.

This is down from 162% in the 2018-19 promotional season, when City’s turnover was below £ 33.7million, as it was the first year without parachute payments after high-level relegation in 2016.

This time around, revenue was higher at £ 57.2million, so despite staff costs that were around £ 8million higher than in 2018-19, that percentage of revenue was business was lower.

The report also shows that claims from the government’s job retention program have risen from £ 1million to £ 741,000 in 2020-2021. These were intended for non-footballing staff on leave, such as chefs and ticket office staff, to protect jobs and avoid layoffs.

The Canaries ended the claims once the promotion was secured, in anticipation of the return of Premier League funds and the return of crowds to the stadiums.


Norwich City has released its financial report for fiscal year 2020-21, with Director Stephan Phillips, left, and CFO Anthony Richens leading a media presentation at Carrow Road
– Credit: Adam Harvey

The annual statement was presented to reporters at a briefing on Carrow Road earlier this week ahead of its publication Wednesday morning, with director Stephan Phillips and CFO Anthony Richens available to explain the various facts and figures.

The briefing had been scheduled ahead of Saturday’s 7-0 loss to Chelsea and its timing was unrelated to current struggles on the pitch, with shareholders due to receive their reports in the mail ahead of next month’s annual general meeting.

NCFC EXTRA: Giannoulis committed to Norwich City survival scrap


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Veoneer: Financial Report July – September 2021 https://stormingheavenforalyssa.com/veoneer-financial-report-july-september-2021/ https://stormingheavenforalyssa.com/veoneer-financial-report-july-september-2021/#respond Tue, 26 Oct 2021 10:21:00 +0000 https://stormingheavenforalyssa.com/veoneer-financial-report-july-september-2021/ STOCKHOLM, October 26, 2021 / PRNewswire / – Veoneer, Inc. (NYSE: VNE and SSE: VNE-SDB) Financial Summary – Q3’21 Active Safety Boosts Organic Sales Growth Despite 20% YoY Decline in Light Vehicle (LVP) Production Net sales $ 391 million, Net sales increase of 5%, Organic sales1 3% year-on-year increase Net active security sales increase 27%, […]]]>

STOCKHOLM, October 26, 2021 / PRNewswire / – Veoneer, Inc. (NYSE: VNE and SSE: VNE-SDB)

Financial Summary – Q3’21

  • Active Safety Boosts Organic Sales Growth Despite 20% YoY Decline in Light Vehicle (LVP) Production
  • Net sales $ 391 million, Net sales increase of 5%, Organic sales1 3% year-on-year increase
  • Net active security sales increase 27%, organic sales increase 24% year-on-year
  • Operating cash flow (120) million dollars
  • Cash balance $ 420 million
  • Veoneer is currently focused on providing information relating to the current acquisition process and is no longer providing forward-looking perspectives and will not hold a call for results.

Company highlights

  • Final merger agreement entered into under which SSW and Qualcomm will acquire Veoneer, terminated merger agreement with Magna International Inc.
  • Organic sales growth outperformed Global LVP by around 23 percentage points in Q3’21
  • Semiconductor supply chain shortages continue to create production, delivery and cost challenges for the industry
  • Temporary inventory build-up had a negative impact on cash flow, the effect is expected to reverse in Q4
  • The ADAS and AD Arriver software unit performed the first public demonstration running on the Snapdragon Ride platform, at the IAA, Munich with positive comments and reviews
  • Veoneer Announced As Key Active Safety Contributor For Mercedes S-Class With 4th Generation Vision And Perception Software Enabling Level 3 Autonomous Driving
  • Order intake over the last twelve months (LTM) was greater than $ 500 million average annual sales at the end of Q3’21

Key figures


Three months ended September 30


Nine months ended September 30


Millions of dollars,(unless otherwise stated)

2021


2020


Switch

2021


2020


Switch


$


%

$


%

$

$


%

$


%

$


Net sales

$

391



$

371



$

20


$

1 208



$

918



$

290



Gross margin

$

65


16.6

%

$

54


14.6

%

$

11


$

183


15.1

%

$

110


12.0

%

$

73



RD&E, net /% of sales

$

(102)


(26.1)

%

$

(124)


(33.4)

%

$

22


$

(326)


(27.0)

%

$

(299)


(32.6)

%

$

(27)



Operating loss / Margin

$

(89)


(22.7)

%

$

(103)


(27.8)

%

$

14


$

(285)


(23.6)

%

$

(290)


(31.6)

%

$

5



Operating cash flow

$

(120)



$

1



$

(121)


$

(299)



$

(115)



$

(184)


Comments from Jan Carlson, president, president and chief executive officer
Veoneer posted strong operational performance in the third quarter. Despite a sequential decline in light vehicle production of 12%, our net sales have remained essentially stable, sequentially. Through our market adjustment initiatives, we have also been successful in improving our gross margin and reducing our operating loss sequentially and year over year. I would like to extend my sincere thanks to the entire Veoneer team who continue to perform in these difficult market conditions and in a rapidly changing and uncertain environment.

The underlying global demand for all of our products remains very strong, but as with many industries and businesses today, semiconductor shortages and supply chain constraints continue to hamper our growth. We manage this situation on a daily basis and do our best to support our clients in this difficult situation.

The gradual weakening of LVP during the quarter was particularly difficult when we saw a temporary build-up of inventory that is reflected in our working capital and cash flow. We have taken initiatives to rectify the situation and I see this as another sign of our discipline and execution force as LVP expectations for the year 2021 have eroded from 14% growth to beginning of the year, to virtually stable growth due to the COVID depression – 19 pandemic levels in 2020.

We continue to see strong momentum for our technologies and products. During the quarter, the high volume Subaru Forrester was launched with our stereo vision camera. We also launched our 9th customer for Monovision, we announced that we are delivering key technologies for the Mercedes S-Class upgrade to Level 3 capabilities, and we had the first public demonstration of the Arriver-Snapdragon solution. Ride with great comments at the IAA show in Munich.

Following the end of the quarter, we announced the signing of a merger agreement with SSW and Qualcomm for the acquisition of Veoneer by SSW and the subsequent transfer of Arriver to Qualcomm. The Board of Directors has determined that the $ 37 on a per share basis, all cash transactions offered by SSW and Qualcomm were superior to the previous transaction agreement with Magna International. The proposed transaction with SSW and the subsequent SSW-Qualcomm transaction are pending and subject to various conditions and we will provide updates as appropriate.

We continue to focus on day-to-day execution, delivery to our customers, solving shortages and logistics issues, and continuing to develop our products and technologies. I am very grateful to our employees who demonstrate great determination and resilience during this time of internal and external change.

1For all non-US GAAP financial measures, see the reconciliation tables in this earnings release, including the Non-US GAAP Financial Measures section for a more in-depth discussion of forward-looking non-US GAAP financial measures on page 11.

Contacts:
Thomas Jönsson – EVP Communications & IR, +46 8 527 762 27 or [email protected]
This report is information that Veoneer, Inc. is obligated to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the EVP Communications and IR agency listed above, at 12:00 p.m. CET on Tuesday, October 26, 2021.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/veoneer/r/financial-report-july—september-2021,c3440340

The following files are available for download:

SOURCE Cision AB

Related links

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Autoliv: Financial Report July – September 2021 https://stormingheavenforalyssa.com/autoliv-financial-report-july-september-2021/ https://stormingheavenforalyssa.com/autoliv-financial-report-july-september-2021/#respond Fri, 22 Oct 2021 10:24:00 +0000 https://stormingheavenforalyssa.com/autoliv-financial-report-july-september-2021/ Posted: October 22, 2021 at 6:24 a.m. EDT|Update: 14 hours ago STOCKHOLM, 22 October 2021 / PRNewswire / – (NYSE: ALV) (SSE: ALIV.sdb) Q3 2021: Accelerating disruptions in the global supply chain Q3 2021 Financial Highlights $ 1,847 million net sales12% drop in organic sales *5.4% operating margin5.6% adjusted operating margin *$ 0.68 EPS – […]]]>

Posted: October 22, 2021 at 6:24 a.m. EDT|Update: 14 hours ago

STOCKHOLM, 22 October 2021 / PRNewswire / – (NYSE: ALV) (SSE: ALIV.sdb)

Q3 2021: Accelerating disruptions in the global supply chain

Q3 2021 Financial Highlights

$ 1,847 million net sales
12% drop in organic sales *
5.4% operating margin
5.6% adjusted operating margin *
$ 0.68 EPS – a decrease in $ 0.44
$ 0.73 Adjusted EPS * – a decrease of $ 0.75

Indications for the year 2021

About 11% net sales growth
About 8% organic sales growth
About 8% adjusted operating margin

Main commercial developments in the third quarter of 2021

  • Significant organic drop in sales * while global LVP fell 20% from the third quarter of last year (according to IHS Markit October 2021). Sales were down 12% organically, but outperformed global LVP by nearly 8 pp, mainly due to product launches and positive vehicle mix effects and despite negative geographic mix effects. All regions outperformed LVP by 6 to 16 points.
  • Profitability has fallen due to lower sales and higher raw material costs. The adjusted operating margin * fell 4.5 points to 5.6%. Return on capital employed decreased to 10.5% and return on equity decreased to 9.3%.
  • Strong balance sheet and leverage ratio well within target range. Operating cash flow of $ 188 million and free cash flow * of $ 77 million support the continuous improvement of the balance sheet. A dividend of $ 0.62 per share was declared and paid during the quarter. Net debt * decreased, resulting in a leverage ratio * of 1.1x.

* For non-US GAAP measures, see accompanying reconciliation tables. All change figures in this version compare to the same period of the previous year, unless otherwise noted.

Key figures

(Dollars in millions, except per share data)

Q3 2021

Q3 2020

Switch

9M 2021

9M 2020

Switch

Net sales

$ 1,847

$ 2,037

(9.3)%

$ 6,111

$ 4,931

23.9%

Operating result

$ 99

$ 175

(43.2)%

$ 500

$ 75

564%

Adjusted operating profit1)

$ 103

$ 206

(49.7)%

$ 506

$ 170

197%

Operating margin

5.4%

8.6%

(3.2) pp

8.2%

1.5%

6.7pp

Adjusted operating margin1)

5.6%

10.1%

(4.5) pp

8.3%

3.5%

4.8pp

Earnings (loss) per share, diluted2, 3)

$ 0.68

$ 1.12

(39.4)%

$ 3.65

(0.02) $

n / A

Adjusted earnings per share, diluted1, 2, 3)

$ 0.73

$ 1.48

(50.7)%

$ 3.72

$ 0.95

291%

Operating cash flow

$ 188

$ 352

(46.6)%

$ 437

$ 380

15.0%

Return on capital employed4)

10.5%

18.7%

(8.2) pp

18.1%

2.7%

15.4pp

Adjusted return on capital employed 1.5)

10.9%

21.7%

(10.8) pp

18.3%

6.1%

12.2pp

1) Excluding capacity alignment costs and in 2020 competition related issues. 2) Assuming the net dilution, if any, of treasury shares. 3) Allocations of participating shares with the right to receive dividend equivalents are (according to the two-class method) excluded from the calculation of EPS. 4) Annualized operating income and income from equity-accounted investments, compared to the average capital employed. 5) Annualized operating income and income from equity-accounted investments, compared to average capital employed. Non-US GAAP measure, see reconciliation table.


Comments from Mikael bratt, President and CEO

The unfavorable business trends at the start of the year accelerated in the third quarter. Supply shortages in semiconductors and other components caused global LVP to drop 20% in the third quarter from a year ago, 17pp lower than expected at the start of the quarter (according to IHS Markit, October 2021). Declining LVP, unpredictable changes in customer calls and rising raw material costs have resulted in lower profitability despite significant cost control measures, including downsizing.

I’m glad we outperformed Global LVP by almost 8pp, significantly reducing the impact of the 20% drop in LVP. We had a record number of new launches during the quarter and we also expect a record full year. This includes products for a large number of electrified vehicles, a market that represented around 10% of our total sales last year. We expect sales to almost double in this market in 2021.

I am also pleased with our order intake for the first nine months of the year and the fact that we continue to implement the projects and actions necessary to support our growth opportunities and our journey to reach the next level of profitability. as expressed by our medium term objectives.

Despite the difficult environment, our leverage * ratio remains well within our target range and we have declared and paid a dividend of $ 0.62 per share during the quarter.

Thanks to successful mitigation efforts, the headwind for commodities in the third quarter was slightly lower than expected. However, we are seeing new headwinds for raw materials, including higher costs for magnesium and resin, which means we still expect a headwind in raw materials operating margin in a full year of business. ‘about 130 basis points. We expect supply disruptions to continue to negatively impact LVP in the fourth quarter, and although there are indications of a moderate improvement in semiconductor availability in Asia and North America, visibility remains poor.

We are planning and implementing more stringent measures to mitigate current adverse trade barriers, including capacity alignments in Europe and the United States. However, due to the significantly reduced LVP outlook for the year, we are adjusting our indication for the entire year. Based on an assumption of around 0% global LVP growth for the full year 2021, we forecast organic sales growth of around 8% and an adjusted operating margin of around 8%.

By relentlessly focusing on quality and workmanship as well as mitigating headwinds in the short term, we continue to move forward towards our mid-term goals. This and more will be explored during our virtual CMD on November 16, 2021.

Inquiries: Investors and Analysts

Anders Trapp
Vice President Investor Relations
Phone +46 (0) 8 5872 0671

Henrik kaar
Investor Relations Director
Phone +46 (0) 8 5872 0614

Requests: Media

Gabriella Ekelund
Senior Vice President of Communications
Phone +46 (0) 70 612 6424

Autoliv, Inc. is obligated to make this information public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the Vice President of Investor Relations noted above, at 12:00 p.m. CET on 22 October 2021.

This information was brought to you by Cision http://news.cision.com

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SOURCE Autoliv

The above press release has been provided courtesy of PRNewswire. The views, opinions and statements contained in the press release are not endorsed by Gray Media Group and do not necessarily state or reflect those of Gray Media Group, Inc.


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Chelsea Receives COVID Financial Report of the Year https://stormingheavenforalyssa.com/chelsea-receives-covid-financial-report-of-the-year/ https://stormingheavenforalyssa.com/chelsea-receives-covid-financial-report-of-the-year/#respond Thu, 21 Oct 2021 14:33:36 +0000 https://stormingheavenforalyssa.com/chelsea-receives-covid-financial-report-of-the-year/ By Doug Marrin, STN reporter The accounting firm Plante Moran presented the Financial Audit of the City 2020-2021 to the City Council during its meeting on October 18, 2021. “Thanks to the audit procedure that we have performed, we have been able to give this year’s audit an unmodified opinion, which is the highest level […]]]>

By Doug Marrin, STN reporter

The accounting firm Plante Moran presented the Financial Audit of the City 2020-2021 to the City Council during its meeting on October 18, 2021.

“Thanks to the audit procedure that we have performed, we have been able to give this year’s audit an unmodified opinion, which is the highest level of assurance that we can give a set of statements financial, ”said David Helisek of Plante Moran.

Helisek went on to explain that an “unmodified opinion” means that the financial statements submitted “fairly reflect the financial position of the City as of June 30, 2021”. In other words, no further changes are necessary to make the declarations clear and transparent.

Lizzie Addy, Chief Audit Executive for Plante Moran, guided the Board through a Powerpoint summary of the report.

Comparing general fund income to last year, Addy said, “Total income increased by approximately $ 536,000 from last year, or 11% from $ 5 million to $ 5.6 million.”

While most of the categories listed at the bottom of the graph showed an increase, Addy highlighted COVID relief funds as the main driver of the increase.

The City has received more good news regarding general fund spending. Chelsea registered about $ 205,000 less than their planned 2021 budget. Addy pointed out that the city’s high capital spending was due to its purchase of land on North Freer Road.

Regarding the comparison of general fund balances, Addy said, “Over the past five years, starting in 2018, the trend has been upward. Last year the fund recorded a net increase of approximately $ 142,000.

Helisek concluded the presentation by acknowledging the City of Chelsea’s strong financial position.

“The City appreciated that it had a good level of fund balances during these somewhat difficult financial times,” said Helisek. “Due to the uncertainty of revenue sources about 18 months ago, there were less than encouraging projections on revenue sharing.”

“The City has incurred unforeseen or unexpected costs or perhaps costs that did not occur two years ago,” he continued. “The ability to be able to continue to provide the level of service without necessarily worrying about where the next dollar would come from was really the result of the right level of funding. “

Below is a link to the full audit.


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Manchester receives annual financial report | New https://stormingheavenforalyssa.com/manchester-receives-annual-financial-report-new/ https://stormingheavenforalyssa.com/manchester-receives-annual-financial-report-new/#respond Wed, 20 Oct 2021 10:00:00 +0000 https://stormingheavenforalyssa.com/manchester-receives-annual-financial-report-new/ While the city of Manchester has experienced a lower growth rate than in the past, its aggressive debt repayment strategy continues to put it in a good fiscal position to move forward, according to a new report. Manchester City Council recently received its annual Tax Increase Funding (TIF) report, a comprehensive review of the city’s […]]]>

While the city of Manchester has experienced a lower growth rate than in the past, its aggressive debt repayment strategy continues to put it in a good fiscal position to move forward, according to a new report.

Manchester City Council recently received its annual Tax Increase Funding (TIF) report, a comprehensive review of the city’s various debts and revenues, from financial expert Maggie Burger, senior vice president of Speer Financial at its October 11 meeting.

Each year, one of the report’s most anticipated findings examines the city’s year-over-year growth rate for its total valued assessment.

Manchester has seen growth rates of as high as 5-7% in the past, but this year Burger said Manchester was in a period of “leveling”, like many other communities in eastern Iowa.

Manchester’s valued valuation is currently $ 366,276,800, up from $ 362,266,712 last year, for a growth rate of just over 1%.

Valuation is a number that is central to the city’s budgeting process, as it relates to the amount of debt the city can legally incur and also serves as a crucial number when calculating where the council sets. its property tax levy.

Using the current valuation, Manchester’s statutory debt limit is 5% of its total value, or $ 18,313,840.

As of July 1, the start of the new fiscal year, the city had $ 5,840,000 in outstanding bond debt and $ 150,200 in TIF forgiveness agreements. After July 1, the city issued an additional $ 3,265,000 in bonds.

After all the numbers are calculated, the city is left with $ 10,278,840, or about 56% of its debt capacity, a number that Burger says is a healthy rate.

Burger said that while the city has gone from 67.76% of its remaining debt capacity last year to 56.14% this year, that was not a cause for alarm.

“I’ll say this year was one of your most important shows, but you had a lot going on – there were a lot of projects that needed to be funded,” Burger said. “But we don’t expect your GO to look like this in the future just because there has been a lot of things that have happened and those things have resulted in growth for the community. “

The city has also imposed a 20% contingency to use in an emergency, so for all practical purposes, council considers it has 36.13% left, or $ 6,616,072 of its capacity. indebtedness.

Burger also noted that Manchester’s strategy of underwriting bonds with shorter maturity periods and implementing more aggressive repayment schedules helps the city maintain a healthy financial balance.

“The majority of our cities your size don’t issue 10-year debt, they issue 12- and 15-year debt,” she said. “So really, your refund gives you a head start since you get things paid for faster. “

The city is expected to repay $ 1,070,000 of its debt during the fiscal year, and if the council no longer issued GO debt, it would have paid everything by 2033, even taking into account only a rate of cautious growth of 0.5%.

While the 13-page report may be difficult for those who are not in the financial field to understand, an important aspect to note is that the debt incurred by the city is very different from the debt incurred by an individual – namely that unlike household debt, there are very strict rules on how and even when city debt can be repaid.

In Iowa, there are several different categories of debt that a municipality can incur, including general obligation (GO) debt, income debt, and debt repayable through TIF funds.

For Manchester’s GO, Burger said this is the simplest type of debt the city can issue because it is fully payable through property taxes. But for some of these GO bonds, other sources of revenue can be used, such as TIF, franchise fees, and road use taxes.

For the total principal amount, Manchester has $ 9,105,000 in general obligation debt, which counts towards its constitutional debt limit.

While these GO bonds use other sources of income for repayment, most of it will be repaid through property tax revenues. In fiscal 2023, council will levy $ 695,900 in property taxes to pay off these obligations.

“The nice thing about general obligations is that you get to decide how they’re paid each year when you budget,” Burger said. “As things change in the city, and fees and expenses maybe get a little better than expected, you can make that decision. “

For some GO bonds, after an agreed period of time, some bonds become “redeemable”, which essentially means that the city then has the option of refinancing, paying them off in full, or making larger payments to pay off the longer loan. quickly. .

Manchester currently has three callable bonds, the 2013 ($ 105,000), the 2014 ($ 85,000) and the 2015A ($ 55,000).

Given that all three bonds will be banned by 2025, the board will likely stay the course. Burger also noted that with current bond interest rates varying between 1.2% and 1.8%, “there really would be no savings if you had to refinance.”

The second type of debt that the city can hold is tax debt, which is typically used for projects such as water, wastewater, and sewage infrastructure.

Unlike GO Debt, Tax Debt does not count towards the city’s debt capacity and can only be repaid using the source of revenue.

Because tax debt isn’t counted against debt capacity, it frees up more money for things like street repairs, capital projects, and incentive agreements.

At present, Manchester has three income loans: the 2008 SRF for Sewerage ($ 2,930,000 remaining), the 2011 SRF for Water Loan ($ 105,000) and the SRF for Water. 2019 water ($ 460,000) for a total of $ 3,495,000.

When taking out these income loans, the board again chose to be aggressive with its repayment schedule, opting for terms of 10 and 12 years instead of 20 years.

Burger said it would give the board an edge in the future when more infrastructure projects need to be done.

“Most of your water and sewer debts will fall due by 2029 and I will say that this is not the case for most cities because they are engaging in fairly large projects”, a- she declared. “Most of these projects are regulated by MNR, so they’re not in your hands – they’re projects you have to do because they say you have to do them.”

Unlike household finances, municipalities are not really able to “save” for large projects, and when an expensive business that cannot be absorbed by the annual budget presents itself, the only realistic way to finance it is. to issue debt.

Council member Dean Sherman noted that as the city prepares to pay off its tax debt, it is also approaching a time when more of these utility systems will need to be upgraded, repaired or replaced.

“It’s not like this is going to go away and we can live debt free, but for me it’s really exciting that we’re about to get paid because it puts us in a good position when the DNR says that we need to spend another $ 10 million on a new sewage plant, ”Sherman said.

Burger agreed, adding that a city doesn’t yet want to be in a position where it always pays for a project while another big one is just around the corner.

As for its TIF obligations, the municipality sets its appropriation agreements on an annual basis.

In short, TIF can be used when a project or development increases the value of a specific property.

For example, this generates a lot of annual tax revenue of $ 1,000, but a developer comes in and raises that valuation to $ 10,000, the board has the option of using that incremental increase of $ 9,000 to offer incentives or even fund. certain types of projects.

The city currently has 11 TIF agreements on the books, amounting to $ 163,200 in earmarked discounts annually for fiscal year 2023.

Since its inception, Manchester’s TIF districts have accounted for $ 105,539,719 in TIF assessed value, and at the current rate of $ 29.81 per $ 1,000, the city has $ 3,146,223 in TIF income. After factoring in the $ 388,498 in debt service obligations and $ 150,200 for annual forgiveness agreements, Manchester has $ 2,607,525 in “unclaimed” TIF dollars.

But Burger said they are not recommending trying to “claim” those dollars because all those “unclaimed” TIF dollars will go back to city, county and school budgets.

“You are using the TIF the way it is supposed to be used – to meet all of your obligations every year,” she said.

Looking back over the past 16 years, Manchester has consistently paid off between $ 881,000 and $ 2,597,000 in debt per year – a figure which becomes more remarkable when one takes into account the growth in the value of the city ​​during this period.

In 2005, the city had an appraisal of $ 197,809,821 with a debt limit of $ 9.9 million and a principal amount of $ 2.5 million in GO and TIF debt compared to current figures of 362,226 $ 712 with a debt limit of $ 18,113,336 and a debt of $ 5.8 million in GO and TIF as of June 30.


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The governing board approves the annual financial report of Gilbert public schools https://stormingheavenforalyssa.com/the-governing-board-approves-the-annual-financial-report-of-gilbert-public-schools/ https://stormingheavenforalyssa.com/the-governing-board-approves-the-annual-financial-report-of-gilbert-public-schools/#respond Wed, 13 Oct 2021 03:04:00 +0000 https://stormingheavenforalyssa.com/the-governing-board-approves-the-annual-financial-report-of-gilbert-public-schools/ The Gilbert Public Schools Board of Directors is reviewing the annual financial report prior to its approval at the board meeting on October 12. (Screenshot from YouTube) The Gilbert Public Schools Board of Trustees unanimously approved the district’s annual financial report for the 2020-2021 fiscal year on October 12. The report is required by state […]]]>

The Gilbert Public Schools Board of Directors is reviewing the annual financial report prior to its approval at the board meeting on October 12. (Screenshot from YouTube)

The Gilbert Public Schools Board of Trustees unanimously approved the district’s annual financial report for the 2020-2021 fiscal year on October 12.

The report is required by state law and is intended to disclose budget performance to the public, according to the state’s General Accounting Office. It includes general fund financial statements, a comparison of actual appropriations to expenditure, and statements of income, expenditure and changes in fund balances.

According to the report, GPS spent $ 222.58 million in maintenance and operations funds, $ 17.21 million in classroom funds and $ 9.37 million in unrestricted capital spending. The district closing fund balance for maintenance and operations was $ 62.38 million, compared to $ 52.34 million at the start of the fiscal year; Class site fund at $ 7.46 million, up from $ 7.34 million; and an unrestricted down payment of $ 1.46 million, compared to $ 1.57 million.

Other elements:

  • The Executive Director of GPS Technology, Jon Castelhano, presented the Board of Directors with a study session on robotics in the classroom. Castelhano showed success videos of how robotics was used to engage students.
  • Board member Jill Humpherys was named the district representative at the Arizona School Board Association county meeting on October 16.
  • The board asked a lawyer to look at two items related to a safety net and a safety net for the desert Ridge High School baseball field, where Blandford Homes built an adjacent subdivision that receives balls. false. One item was for a cost-sharing arrangement for the additional fence, estimated to be up to $ 315,000. The other was for the tender on the project.


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