Tranter contributes to fossil fuels reduction in steel production.
Tranter’s plate and frame heat exchangers will be used in the process to capture and separate the carbon dioxide coming from the energy intense steel production process. The order is for four large plate and frame heat exchangers in stainless steel with extra hard EPDM gaskets that will be used for heat recovery in the removal process of CO\2\ from a gas stream, carried out by absorption in a continuous process with regenerable solvents.
The plant is a direct reduced iron (DRI) plant and can reduce the carbon footprint significantly compared to traditional steel plants by utilizing green hydrogen as energy and post combustion carbon capture technology, hence an important step in reaching the NetZero goals by 2030.
“The subject of effective heat exchangers is getting more and more attention in the industry. The fact that our products are key components for the world to reach their NetZero goals by 2030 is both encouraging for our own workers and makes us feel proud about our company and our products.” says Thomas Cassirer – Director Global Energy Segment
Tranter’s heat exchangers will operate as lean/rich solvent interchanges and the lean solvent heat exchanger is part of the amine preparation before and after the carbon dioxide absorption. Efficient heat transfer is crucial for effective carbon dioxide absorption and for amine regeneration. Tranter’s ThermoFit plates (GT-series) with the Omniflex plate pattern is a perfect fit for post-combustion carbon capture applications, as they are specifically designed for heat recovery duties capable of handling high NTUs without sacrificing too much pressure drop. Both are essential in the absorption process, the solvent absorbs carbon dioxide but is also an aggressive contaminant. This makes the material selection a key parameter for the operational economy of the plant. Tranter’s references from similar applications and proven expertise in the carbon capture application helped the customer to find suitable material without sacrificing too much on the capital expenditure of plant.
“Tranter’s vast experience in amine applications and references on what special materials work well in the process was a key factor to gain the customer’s trust. Tranter’s local presence with our factory in Sweden and our service center in Germany was considered an added value for the end-user, making Tranter the first-choice provider for plate heat exchangers in this important project.” declares Fredrik Nyström – Sales Manager EPC Europe.
The heat exchangers were ordered by an Italian EPC contractor in the metal and mining industry and will be manufactured in Tranter’s factory in Vänersborg, Sweden.
“Scania participates in many press tests in Europe, but the Green Truck Award really focuses on what is an absolute core requirement in our industry – offering customers the best possible transport efficiency,” says Stefan Dorski, Senior Vice President and Head of Scania Trucks. “Our Super-based powertrain was introduced in 2021 and brought a new performance level to the market, with its 8% fuel-savings that our customers now benefit from in their daily operations.”
The annual “Green Truck” test is organised by the magazines Trucker and VerkehrsRundschau. It began in 2011 and has been held 14 times. So far, Scania has scored nine (!) wins in total, four second places and one 5th place (in the very first year). Needless to say, no other brand is even close to Scania’s track record.
“Ah, the fifth place – that happened long before my tenure started,” says a smiling Dorski. “Seriously though, we at Scania are very proud and happy at having regained the title as the most efficient long-haul truck in the world. Consuming less fuel means that our trucks contribute a lot for curbing CO2 emissions, since so much of the world’s transports is still dependent on combustion engines.”
The best truck in the test is identified by applying a clever formula that covers all the relevant aspects of being transport-efficient and sustainable: fuel consumption, average speed, used AdBlue volume and the weight of the truck (the lighter the better).
And when one takes a closer look at the actual data that are used in the Green Truck formula, Scania’s results stand out: over 100km distance, the average difference compared to the runner-up is 0.41 litres of fuel. Taking into perspective the fact that a long-haul truck travels something like 150,000 km each year, this makes Scania’s more than 600 litre per year better off than the nearest competitor. At 7,040 kg, the Scania truck was also the lightest vehicle, and achieved the highest average speed, at 79.70 km/h. Scania also introduced an updated version of its CCAP system (Cruise Control with Active Prediction) in May 2023, something that is believed to have given an edge in the test.
The actual testing takes place on various types of roads (though mainly motorways) in the Munich area. Everything is closely monitored by the organisers and by staff from the participating manufacturers. A reference truck is always used to compensate for changing conditions such as head winds, rain and temperature.
Watch the winning truck in action here.
Norse Atlantic Airways proudly announces the launch of its newest route connecting London Gatwick and Cape Town, set to commence on October 28th, 2024. With flights operating three times a week on Monday, Wednesday, and Saturday, travellers can now experience the vibrant culture and breathtaking landscapes of Cape Town with ease.
With fares starting from just £499 return in Economy and £1199 return in Norse Premium class, Norse Atlantic Airways is committed to delivering exceptional value without compromising on quality. Moreover, this historic route launch signifies a shift in consumer choice, as Norse Atlantic Airways breaks the existing duopoly on the London to Cape Town route. By injecting much-needed competition into the market, Norse Atlantic Airways aims to empower consumers with greater choice, flexibility, and affordability.
“We are thrilled to introduce our new route between London and Cape Town. By breaking the duopoly on this route, we are not only expanding travel options for consumers but also driving down costs and putting the customer back in the pilot’s seat. At Norse Atlantic Airways, we believe that everyone deserves the opportunity to experience the wonders of the world and our new route to Cape Town will allow many more people to visit this amazing destination,” said Bjorn Tore Larsen, CEO and Founder of Norse Atlantic Airways.
Stephanie Wear, VP Aviation Development, London Gatwick said: “We are proud to welcome another new route from Norse Atlantic, connecting passengers across London and the South East with Cape Town from October.
“Norse has continued to grow at London Gatwick and provide excellent connectivity to a number of key markets across the USA. This new route to South Africa is great news not only for those looking for a fantastic holiday destination, but also for trade and inbound tourism.”
Cape Town boasts a myriad of attractions, from the iconic Table Mountain to the stunning coastline and world-renowned vineyards of the Cape Winelands. Travelers can immerse themselves in the rich history of Robben Island, explore the bustling Victoria & Alfred Waterfront, or indulge in delectable cuisine at the city’s top restaurants.
Outbound flights depart London Gatwick at 20.00 and land in Cape Town at 0930 the following morning. Inbound flights depart Cape Town at 11.45 and arrive at London Gatwick at 21.35 the same day.
Norse Atlantic exclusively operates modern Boeing 787 Dreamliner aircraft. The cabin offers passengers a relaxed and comfortable travel experience with each seat including a personal, state-of-the-art entertainment experience. Our Norse Premium cabin offers an industry leading 43” seat pitch and 12” recline, allowing passengers to arrive at their destination feeling refreshed and ready to explore their destination.
Norse Atlantic offers two cabin choices: Economy and Norse Premium. Passengers can choose from a simple range of fares, Light, Classic and Flextra, that reflect the way that they want to travel, and which options are important to them. Light fares represent Norse’s value option, while Flextra fares include the maximum baggage allowance, two meal services and increased ticket flexibility.
For more information or to book visit www.flynorse.com
Herning, Denmark, 18 April 2024 – The Annual General Meeting 2024 was held today. All the proposed resolutions were approved by the AGM. This includes the re-election of Søren Eriksen, Jørn Rosenlund, Christina Aabo and Anne Kathrine Steenbjerge to the Board of Directors and approval of the resolution to appoint Yasuhiro Miyata a seat in the Board of Directors.
The Minutes of Meeting is attached and will be available from the company’s website: www.everfuel.com/investor/
For additional information, please contact
Jesper Ejlersen, CFO, Everfuel, jej@everfuel.com
Mads T. Mortensen, Director of investor relations and communication, Everfuel, mm@everfuel.com, +45 7730 4727
About Everfuel | www.everfuel.com
Everfuel is making green hydrogen for zero emission industry and mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply and fuelling solutions. We own and operate green hydrogen infrastructure and partner with industry and vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean energy carrier made from renewable solar and wind power and key to decarbonising industry and transportation in Europe. We are an ambitious, rapidly growing company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands and Germany, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
The parallel company names of the new name are HKFoods Plc (in English) and HKFoods Abp (in Swedish).
“The name HKFoods will continue the company’s traditions and reflects one of the company's core consumer brands, as well as the company's industry and strategic reference. We continue our strategic journey to become a versatile food company. HKFoods is strongly Finnish at its core, but an internationally operating company," says CEO Juha Ruohola.
The company name change has no impact on the company’s iconic consumer brands, HK[®], Kariniemen[® ]and Via[®] in Finland and Rose[®] in Denmark.
The company’s new name, logo, website and email address, etc. will be introduced in stages from May 2024 after the name has been registered with the Trade Register. Other contact details of the company and its personnel (phone numbers, addresses) will remain unchanged.
The company will publish a separate stock exchange release once the name change has been registered with the Trade Register.
Further information:
Juha Ruohola, CEO, HKScan Corporation, tel. +358 400 647 160HKScan Media Service Desk, tel. +358 10 570 5700 or by email: communications@hkscan.com
With 110 years of experience, we at HKScan make life tastier – today and tomorrow. Our strategic target is to grow into a versatile food company. Our home markets are Finland and Denmark, where around 3,600 of our professionals make responsible and locally produced food for consumers’ varied food moments. Our well-known brands include HK[®], Kariniemen[®], Via[®] and Rose[®.] We are developing a more climate-friendly way of producing food. HKScan is a publicly listed company, and in 2023, our net sales from continuing operations totalled nearly EUR 1.2 billion. www.hkscan.com
The new t-shirt is the first consumer product that is made from SPINNOVA® fibre produced at Spinnova and Suzano’s jointly-owned Woodspin facility, which began operating in 2023. The fibre produced at the facility is made from certified wood pulp from Scandinavia using Spinnova's pioneering technology. The t-shirt has the largest production volume of a commercially available SPINNOVA® product to date. The t-shirt is sold in selected JACK & JONES stores, through wholesalers and online on jackjones.com.
“We're delighted to continue our close collaboration with Bestseller and do our part to help them bring to life their strong sustainability strategy. We couldn’t be more excited to see them launch a new product made from SPINNOVA® – let alone one that has an accessible price point and availability.” says Spinnova’s CEO Tuomas Oijala.
Spinnova and Bestseller began their joint development partnership in 2020 and in 2022, JACK & JONES became the first BESTSELLER brand to use SPINNOVA® in a consumer product. The initial product from the collaboration was a pair of cream-coloured men’s trousers, made from cotton and SPINNOVA® fibre. JACK & JONES is now the first major global brand to launch a new consumer product made with SPINNOVA® fibre for the second time.
“At JACK & JONES we strive for a better way of making clothes. We push ourselves to innovate and explore processes and materials with a lower impact on the environment. In SPINNOVA® we’ve found a strong partner to take part in that journey. We are very excited to now launch the second JACK & JONES product made with SPINNOVA® fibre.” says Allan Jung Thorbøll, International Buying Manager, JACK & JONES.
JACK & JONES t-shirts made with SPINNOVA® are available in selected stores and online at www.jackjones.com from April 2024.
See the t-shirt and more information here: https://www.jackjones.com/da-dk/indhold/abetter-world/spinnova
The presentation will be broadcast as an audiocast on the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240425_20 Time and date: Thursday, 25 April 2024 at 15:00 CEST.
Questions can be submitted throughout the streaming event and the presentation material will be published at 07:00 CEST.
ENDS
Since joining Scania in 2001, Sara Forsberg has held several positions within Research & Development, including Head of Truck Chassis Development. She took up her current position as acting manager for Vehicle Development in Södertälje in 2023.
Forsberg comes with extensive experience in vehicle development, modularisation and validation and will now take on the task of implementing and leading Scania’s Brand Identity Development (BID) organisation. Together with her team, she will drive the development of Scania’s product roadmap, ensuring continued value creation for Scania customers. Scania’s sustainable solutions will be brought to market quicker and with increased efficiency, with the support of the common tools and principles of the unified TRATON Group R&D structure, where the BID structure ensures each brand's uniqueness.
“As we continue to establish a strong TRATON Group R&D that will deliver more customer value worldwide, Sara will play an essential role in driving the brand identity development and the future success of Scania,” says Niklas Klingenberg, Head of Group R&D, TRATON Group.
“The role of the CTO is incredibly important as we continue to build our future vehicle offering to our customers. I am happy to welcome Sara to the Executive Board. Her broad technical expertise from various parts of the company together with strong leadership will be a great contribution to Scania’s future offering of premium sustainable solutions, says Christian Levin, President and CEO Scania and TRATON Group.
“I’m thrilled to be taking up this new role at such an important and exciting stage of Scania’s journey, with some challenges, but also great opportunities ahead of us. We will continue to build Scania’s premium offering and leverage the strengths of the group to deliver solutions tailored to the specific needs of our customers in various markets,” says Forsberg.
Sara Forsberg was born in 1976 and has a Master of Science in Ergonomic Design and Production, from Luleå University of Technology, Sweden.
EQT is thrilled to announce the appointment of Peter Aliprantis as partner and head of EQT’s fast-growing Private Wealth Management business in the Americas. Peter will report to Peter Beske Nielsen, partner and global head of private wealth, and will be based in EQT’s New York office.
Helping our private wealth clients gain access to private market investments is among EQT’s key strategic growth initiatives. Private wealth represents about 9% of total client commitments across active EQT funds today. We remain laser focused on continuously innovating new ways to give individual investors the same opportunity to benefit from EQT’s track record of value creation and strong performance, based on our active ownership approach, as our global institutional clients have enjoyed for the past three decades.
“With more than 25 years of private wealth experience, working across private banks, wirehouses, family offices and digital platforms, Peter is the perfect fit to lead our growing private wealth team in the Americas. He takes an entrepreneurial approach to expanding new strategies and clearly exemplifies EQT’s values,” said Suzanne Donohoe, EQT’s Chief Commercial Officer. “Now that the EQT Exeter Real Estate Income Trust, Inc. (EQRT) has broken escrow, and with other products under development, we continue to be excited about the opportunities to expand our private wealth focus in the region. I would like to thank Marah Marshall, who will move to a newly created global role focused on EQT’s strategic partnerships in the private wealth space, for her tireless dedication and leadership of the Private Wealth Management team thus far.”
Peter Aliprantis said, “EQT has already built an impressive private wealth business globally and in the Americas. I could not be more excited about the growth opportunity ahead of us, particularly for a firm with such a strong track record of performance and active ownership. I look forward to helping EQT continue to expand its footprint in this space across the region.”
Peter joins EQT from TPG Angelo Gordon, where he spent 12 years as a managing director focused on new business development and Intermediary Distribution. Prior to joining TPG Angelo Gordon, he was a partner and managing director of Global Intermediary Distribution at FrontPoint Partners, LLC, where he managed the global distribution of the firm’s alternative investment products to Ultra-High Net Worth investors, Family Offices, and Investment Advisors.
ContactEQT Press Office, press@eqtpartners.com
During 2023 group company Smoltek Semi has worked on developing a new technology generation of the company's CNF-MIM capacitors with high volumetric capacitance density. Gen-Zero, as it is called, has recently been completed as part of the collaboration with YAGEO, with Smoltek Semi owning all rights to the result.
“Although we have currently concluded discussions regarding a license and service agreement for the capacitors, YAGEO still has a great interest in our technology and will help us evaluate the results of upcoming Gen-One capacitors”, says Farzan Ghavanini, CTO at Smoltek.
High capacitance in a small area – and the importance of volumetric capacitance density Smoltek's carbon nanofiber-based capacitor technology, CNF-MIM, creates high capacitance values by growing extremely thin and tall carbon nanofibers on top of a silicon substrate. With this technology, a very high capacitance is created in a very small area. This is fundamental and demanded from the capacitor manufacturers and their customers worldwide.
“Smoltek's technology differs from competitors', which etch deep trenches, or holes, in the silicon substrate. To fairly evaluate the two technologies, one must look at the volumetric capacitance density. This means that you must compare how much capacitance you can get in a given volume in a CNF-MIM capacitor compared to that of the competitors”, Farzan Ghavanini explains.
With the new Gen-Zero capacitors, Smoltek can create a volumetric capacitance density of up to 120 nanofarads per square millimeter and per 1 micrometer of carbon nanofiber. This is comparable to the best capacitors on the market. The capacitance values in the Gen-Zero capacitors are, however, lower than the competitors. This is due to the fact that Smoltek Semi has not yet optimized the length of the fibers. The carbon nanofibers in Gen-Zero are only a few of micrometers tall. In the next generation, Gen-One, the ambition is to grow longer carbon nanofibers, up to 10 micrometers tall, which is expected to bring the capacitance values on par with the competitors.
“Although we can provide a very high volumetric capacitance density, there is still work to be done to reach our full potential. The ongoing Gen-One project will already during this year prove the strength and potential of our technology to create a world-leading capacitor product”, Farzan Ghavanini concludes.
New York, NY – April 22nd, 2024 – Klarna , the AI powered global payments network and shopping assistant, today announced the expansion of its partnership with Expedia Group to the US market. Klarna is now bringing its flexible payment offerings to millions of travelers, enabling them to book flights and stays using its popular interest-free Pay Now or Pay in 4 options across Expedia.com/Klarna and Hotels.com/Klarna. The rollout of Klarna to Expedia Group’s largest market comes after its successful launches in the UK, Germany, Sweden, and Finland.
Erin Jaeger, Head of North America at Klarna: "We are incredibly excited to join forces with Expedia Group to provide more flexible payment solutions that cater to the evolving needs of modern travelers. By enabling US consumers to Pay Now or Pay Later with Klarna, we are not only making travel more financially accessible, but also enhancing the booking experience with our seamless payment process. It’s a win-win for travelers seeking both adventure and affordability.”
“We're thrilled to expand our collaboration with Klarna, providing travelers with increased flexibility in booking their ideal getaway. This collaboration underscores our dedication to advancing and enriching the traveler journey with innovative technologies, enabling our partners to offer exceptional experiences to their customers.” said Clayton Nelson, Vice President, Strategic Partnerships & Affiliates, Expedia Group.
The US travel and tourism market is expected to generate nearly $200bn in 2024 (Statista ). This partnership comes at a crucial time as the travel industry continues to rebound from the covid pandemic and consumers seek more value and flexibility in planning their trips.
With 37 million Klarna consumers in the US, Expedia Group is the latest partner to join the company’s growing travel network.
· As previously communicated, EQT expects to execute share buyback programs twice a year to offset - over time - the dilution impact from shares delivered to EQT’s employees under its Share and Option incentive programs. · Pursuant to the upcoming repurchase program, a maximum of 2,154,000 ordinary shares (0.2% of EQT’s share capital, corresponding to approximately SEK 620.6m based on the closing price for EQT’s share on Nasdaq Stockholm on 19 April 2024[1]) are to be repurchased. · Together with the initial share buyback program, completed in August 2023, the buyback corresponds to the maximum dilution for the 2023 Share and Option incentive programs.
The purpose of the repurchase program is to adjust EQT's capital structure (by way of cancellation of shares). The repurchase program will be carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). The repurchase program will be managed by Skandinaviska Enskilda Banken AB (“SEB”) that, based on the trading order given by EQT to SEB, makes its trading decisions regarding timing of the acquisitions independently of EQT.
The repurchase program resolved by the Board is subject to the following terms:
1. Repurchases may only be effected on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rulebook for Issuers of Shares (the “Rulebook”) as well as in accordance with MAR and the Safe Harbour Regulation. 2. Repurchases may be made on one or several occasions during the period 23 April – 24 May, 2024.
3. Repurchases may only be effected at a price per share within the price interval applying on Nasdaq Stockholm from time to time, which refers to the interval between the highest buying price and the lowest selling price continuously disseminated by Nasdaq Stockholm, and in accordance with the restrictions relating to price in the Safe Harbour Regulation.
4. Repurchases may only be effected in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook and in the Safe Harbour Regulation.
5. A maximum of 2,154,000 own ordinary shares may be repurchased for a total maximum amount of SEK 1,000,000,000.
6. Payment for the shares shall be made in cash.
The number of shares in EQT as of the date of this press release is set out in the table below.
[][] Ordinary shares Class C shares[2] TotalNumber of issued 1,245,048,412 881,555 1,245,929,967 sharesNumber of shares 60,474,829 - 60,474,829owned by EQT AB[3 ]Number of 1,184,573,583 881,555 1,185,455,138outstanding shares
1) SEK 288.10 / share.2) Carry one tenth (1/10) of a vote.3) EQT AB shares owned by EQT AB are not entitled to dividends or carry votes at shareholders’ meetings.
ContactOlof Svensson, Head of Shareholder Relations, +46 72 989 09 15EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Stockholm, April 23, 2024 –Investment funds managed by KKR, a leading global investment firm, have agreed to acquire Immedica Pharma. Existing owner, Nordic healthcare investment firm Impilo, will reinvest to become an equal owner alongside KKR. The transaction is subject to customary regulatory and closing conditions.
KKR and Impilo will work together with Immedica’s management team to support Immedica’s continued growth, including the launch of the recently approved ultra-orphan drug Loargys, additional pipeline assets, continued in-licensing, M&A and expansion into new territories.
Established in 2018 by Impilo and an experienced management team with a strong track record in launching and commercializing orphan drugs across Europe, Immedica has built up a portfolio and pipeline of drugs primarily within hematology / oncology and genetic and metabolic diseases for rare conditions with high unmet medical need and has quickly expanded into an emerging leader in the European rare disease space, with revenues of EUR 100m and annual growth of more than 50%. Growth catalysts have included a series of in-licensings and acquisitions of drugs for orphan and niche conditions, as well as the organic development of a pan-European and Middle Eastern launch and commercialization organization with over 100 highly skilled employees, supported by the corporate headquarters in Stockholm, Sweden.
Kugan Sathiyanandarajah, Partner and Head of KKR’s Health Care Strategic Growth business in Europe, commented: “The Immedica team is one of the best that we have encountered in a space that we have been following for some time. We are deeply impressed by the accomplishments of Immedica under Impilo’s ownership and the establishment of a rare disease player with a highly promising pipeline. We look forward to working with the management team alongside Impilo to accelerate growth further.”
“KKR, with its experience in rare disease and specialty pharma in Europe and the U.S., as well as its global presence and network, is an ideal strategic partner for the next stage of Immedica’s evolution. We are excited to continue our engagement in Immedica, together with KKR, supporting management to realize our joint vision of becoming a leading ultra-rare disease platform and making medicines available to patients with high unmet medical needs,” said Magnus Edlund, partner at Impilo.
“I am excited to continue our partnership with Impilo and welcome KKR as a new strategic partner for the next step in Immedica’s journey,” said Anders Edvell, CEO of Immedica. “Since our inception in 2018 backed by Impilo, Immedica has made significant strides towards becoming a leader in the rare disease sector, providing innovative therapies to patients with severe unmet medical needs. I look forward to working alongside both KKR and Impilo as we further our mission, continue to build our organisation, and expand our reach globally.”
KKR is investing in Immedica through its KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $20 billion in the sector since 2004.
About KKRKKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com . For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com .
About Impilo
Impilo is a Nordic investment company focused solely on investments in companies operating in the pharmaceutical, medical technology, healthcare services and other health related industries. Our starting point is that our portfolio companies must contribute to a positive and sustainable development of the societies and markets in which they operate in order to remain successful in the long term. Impilo strives to increase value of its investments through long-term active ownership. Impilo has a well-diversified portfolio of healthcare investments and manages c. EUR 1 billion of capital from leading Nordic and international investors. Learn more about Impilo at www.impilo.se.
About ImmedicaImmedica is a pharmaceutical company, headquartered in Stockholm, Sweden, focused on the commercialization of medicines for rare diseases and specialty care products. Immedica’s capabilities cover marketing and sales, compliance, pharmacovigilance, quality assurance, regulatory, medical affairs and market access, as well as a global distribution network serving patients in more than 50 countries. Immedica is fully dedicated to helping those living with diseases which have a large unmet medical need. Immedica’s therapeutic areas are within genetic & metabolic diseases, hematology & oncology and specialty care.
Immedica was founded in 2018 by the investment company Impilo and Buy-in-Management. Today Immedica employs more than 100 people across Europe and the Middle East.
For more information visit www.immedica.com
Immedica contact:Linda HolmströmHead of Communicationlinda.holmstrom@immedica.com+ 46 708 73 40 95
Recapitalisation completed and full focus on operational improvements and product performance
First quarter highlights
· Total reported Group net sales of SEK 4,757m (4,537) and operating income before associated company income (ACI) and items affecting comparability (IAC) of SEK -317m (-291) · Core operations (Nordics, Netherlands and Viaplay Select) 6% organic net sales growth to SEK 4,459m (4,279), with operating income before ACI and IAC of SEK -270m (103) · IAC of SEK -188m (-44) primarily comprised unrealised non-cash currency effects related to previous content provisions · Total reported operating income of SEK -473m (-325) including ACI of SEK 32m (10) · Net income of SEK 605m (-288) and EPS of SEK 0.23 (-3.68) included SEK 1,190m one-off impact related to debt write-down part of recapitalisation · Comprehensive recapitalisation programme completed on 9 February 2024 with net cash proceeds of SEK 3.6bn and financial net debt reduced by SEK 5.6bn
Financial summary
[] Q1 Q1 Fullyear(SEKm) 2024 2023 2023Total net sales 4,757 4,537 18,567Core operations net sales 4,459 4,279 17,332Organic sales growth for core operations 5.6% 27.3% 10.6%Reported sales growth for core operations 4.2% 30.7% 13.5%
Operating income before ACI and IAC -317 -291 -1,115Core operations operating income before ACI and IAC -270 103 89
Associated company income (ACI) 32 10 63Items affecting comparability (IAC)[1)] -188 -44 -9,224Operating income -473 -325 -10,276
Net income for the period 605 -288 -9,747Basic earnings per share (SEK) 0.23 -3.68 -124.61
1) Please see page 21 regarding items affecting comparability.Alternative performance measures used in this report are explained and reconciled on pages 19-23.
A word from our President & CEO
The completion of the recapitalisation programme was an important step in setting the foundation for our retransformation into a profitably growing and cash generative business. We are now fully focused on the many operational improvements that need to be made across the Group. Our Q1 results are in line with expectations, and we have reiterated our outlook for the year.
We have adjusted our product prices in recent months, in order to ensure that we can continue to invest in our content offering. This led to temporarily increased churn levels, and research shows that our linear and streaming products continue to be highly relevant, resonate well and provide very good value for money for our partners and customers, when benchmarked with competitor offerings.
Our core commercial content has continued to perform well, with viewing of the new Formula One season combining with exciting Premier League action and our very popular winter sports coverage, complemented by a wide range of sports-related programming. Local core commercial content like reality format ‘Paradise Hotel’ returned and followed up its success in Denmark by being the most watched non-sports title in Norway in Q1. New seasons of established favourites ‘MasterChef’, ‘Luxury Trap’ and ‘Efterlyst’ delivered again on both our TV channels and Viaplay, while the latest series of our hit crime drama ‘Wisting’ and new crime documentary ‘Under the Radar’ made a big impact in Norway and Sweden, respectively.
Following the recapitalisation, we can now begin to commission for Spring 2025. Our slate for Q2 looks good with new seasons of successful local and international series, great new movie releases and new shows including comedy drama ‘All and Eva’ and documentary ‘Ace of Base – All That She Wants’. These will line up alongside the Ice Hockey World Championships, the Stanley Cup, top motor-racing, two golf majors and the culmination of the Premier League, Champions League, Europa League, Danish League and numerous other football leagues and cup competitions.
The reality is that our content costs have risen faster than our revenues over the past few years, due to competition, underlying inflation and ongoing adverse FX movements. We cannot expect our direct customers and distribution partners to carry these cost increases 100% alone, which is why we have sublicensed selected sports and non-sports content to other broadcasters and streamers.
We are also innovating with new products such as our interesting linear TV channel partnership with Talpa TV in the Netherlands, and we are also planning to launch a new sports news channel in most of our markets, in order to capitalise even further on our wide-ranging sports offering. And we will be introducing a new HVOD streaming package this summer that will include advertising, in order to provide flexible solutions for our customers, and additional monetisation windows for our content.
We are in talks with our distribution partners regarding all of the above and will learn from what has been done well and not so well in the past few years, both in terms of products that have worked and where we can enhance the consumer offering and better monetise our content. These discussions will also address how we tackle account sharing together. This is a major issue for the industry.
We estimate that approximately a third of premium subscribers have been sharing the account details for their Viaplay subscriptions. This is not fair. We have implemented changes in some markets to limit the number of concurrent streams for live events, which have proved successful and have encouraged new customers to join and pay for the entertainment they watch. We will implement more far-reaching initiatives this summer, in order to get more to pay for what they watch. We are also working with our industry peers to combat piracy, but we do need much more help from politicians and regulators to prevent and police all forms of illegal content distribution.
As flagged previously, we have adjusted our financial reporting structure this quarter, in order to reflect our strategic focus on our core Nordic, Netherlands and Viaplay Select operations, and to provide a breakdown of our linear channel and sublicensing sales. The core operations are therefore now reported separately from the non-core international markets that we are exiting. We have completed the sale of our UK operations and the Paprika content business and exited the Baltics by transferring the subscriber base and sublicensing the sports portfolio. Poland will be our only non-core business until we exit that market in mid-2025. We will continue to have cash costs for these businesses and have therefore provided free cash flow numbers for both the core and non-core operations.
The 6% organic growth for our core operations primarily reflected the sublicensing deals that I have mentioned and were announced during Q4. We do expect Viaplay subscription sales to return to growth once we feel the full effect of the price increases and launch the new product offerings, and as we work to reduce account sharing and improve the terms of our partnership agreements. These actions will also boost our linear channel sales. We have continued to build our digital advertising inventory, which helped offset some of the effects of the continued decline in the linear TV advertising markets, and the launch of the new HVOD tier should further support this transition.
The growth in our operating expenses was mainly due to rising content costs, which were partly offset by lower SG&A costs after the changes that we have made in the last year. As expected, profitability for the core operations declined, with significant improvements required in the coming quarters.
Our commitment to restore profitability, enhance our product offering and rebuild sustainable stakeholder value is unwavering. It will take time and will be done with a laser focus on consistent operational improvements, mutually beneficial partnerships turning account sharers into customers, innovative revenue streams, the right content mix at the right price, and strict cost control.
Jørgen Madsen LindemannViaplay Group President and CEO
Shareholder information
2024 Annual General MeetingViaplay’s 2024 Annual General Meeting of shareholders will be held on Tuesday 14 May 2024 at 10:00 CEST at Viaplay Group’s Head Office, Ringvägen 52, 118 67 Stockholm, Sweden. Shareholders may also exercise their voting rights at the Annual General Meeting by postal voting in accordance with the provisions of Viaplay Group’s Articles of Association. As previously communicated, the Board of Directors will propose to the Annual General Meeting that no annual cash dividend be paid for 2023. The AGM resolutions will be published as soon as the outcome of the voting has been established. The AGM notice and related documentation are available at www.viaplaygroup.com.
Financial calendarAnnual General Meeting 14 May 2024Publication of Q2 Interim report 18 July 2024Publication of Q3 Interim report 22 October 2024
Conference callA conference call will take place today, Tuesday 23 April at 09.00 Stockholm local time, 08.00 London local time and 03.00 New York local time.
The conference call can be accessed online at https://edge.media-server.com/mmc/p/qqgao8xxOr, register for the conference call at https://register.vevent.com/register/BIe68fefec771b4478bbf5f188c0644d81Click here for full report.
Contactpress@viaplaygroup.com or +46 73 699 17 00investors@viaplaygroup.com or +44 7768 440 414
Notes to editorsThis information is information that Viaplay Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CET on 23 April 2024.
Viaplay Group AB (publ) is the Nordic region’s leading entertainment provider. Our Viaplay streaming service is available in every Nordic country, as well as in the Netherlands and Poland, and our Viaplay Select branded content concept has been added to partner platforms around the world. We also operate TV channels across most of our markets, as well as radio stations in Norway and Sweden. Our talented people come to work every day with a shared passion and clear mission to entertain millions of people with our unique offering of locally relevant storytelling, which spans premium live sports, films, series and music. Our purpose is to grow our business profitably and responsibly, and deliver sustainable value for all our stakeholders. Viaplay Group is listed on Nasdaq Stockholm (‘VPLAY B’).
This interim report contains statements concerning, among other things, Viaplay Group's financial condition and results of operations that are forward-looking in nature. Such statements are not historical facts but, rather, represent Viaplay Group's future expectations. Viaplay Group believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions; however, forward-looking statements involve inherent risks and uncertainties, and a number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements. Such important factors include but may not be limited to Viaplay Group's market position; growth in the streaming industry; and the effects of competition and other economic, business, competitive and/or regulatory factors affecting the business of Viaplay Group, its group companies and the streaming industry in general. Forward-looking statements apply only as of the date they were made and, other than as required by applicable law, Viaplay Group undertakes no obligation to update any of them in the light of new information or future events.
The industry sector is responsible for 25–30 per cent of total global CO2 emissions and companies and countries are now investing heavily to transform their operations. Demand for industrial products is expected to increase significantly over the next three decades — steel by 30%, cement and ammonia by 40%, and aluminium by 80%. Companies in those hard-to-abate-industries are now required to deliver on that demand in a sustainable manner. “Sweco’s analysis is based on the Leadership Group for Industry Transition (LeadIT) database and shows that Europe is taking the global lead in the green transition of the industry sector, as 95% of the full-scale projects in cement worldwide are conducted in Europe, as well as 61% of all fossil-free steel projects. There are a number of reasons why this is happening right now: Higher prices for CO2 emissions, new investments, regulations, the EU Net-Zero Industry Act and stronger demand for sustainable products from end customers,” says Erik Skogström, Division Director Industry and Energy at Sweco in Finland. Sweco is the trusted advisor to some of Europe’s most ambitious large-scale industrial projects within decarbonisation including energy supply and efficiency, hydrogen and hydropower energy storage such as battery technology, CCS and industrial circularity. Sweco’s new report covers the following key insights: • Regulations and capital are falling into place — but is it enough?• The steel industry at the forefront, followed by the cement industry • CCS/ CCU — a necessary complementary solution• The electrification revolution, spurred by renewables, hydrogen and batteries • Resource efficiency and circular industrial processes• Industrial symbiosis and new business models About Urban Insight by SwecoUrban Insight is a series of insight reports written by Sweco experts on various aspects of urban development from a citizen perspective. The new report is available here .
Strong execution in a challenging market
First quarter
· Net sales increased by 9% to SEK 35,200 M (32,391), with organic growth of –2% (8) and acquired net growth of 11% (5). Exchange- rates affected sales by 0% (9). · Organic sales growth was stable in Entrance Systems, but declined in Americas, Asia Pacific, EMEIA and in Global Technologies. · Three acquisitions with combined annual sales of about SEK 2,000 M were completed in the quarter. The divestment of PACA in France was finalized. · Operating income[1] (EBIT) increased by 5% and amounted to SEK 5,427 M (5,186), with an operating margin of 15.4% (16.0). · The operating margin1 (EBIT) excluding the acquisition of HHI and divestment of the Emtek/U.S. Smart Residential business was 16.3%. · Net income1[ ]amounted to SEK 3,462 M (3,692). · Earnings per share1 amounted to[ ]SEK 3.12 (3.32). · Operating cash flow amounted to SEK 3,096 M (4,069).
Sales and income
Full year First quarter 2022 2023 Δ 2023 2024 ΔSales, SEK M 120,793 140,716 16% 32,391 35,200 9%Of which:Organic growth 13,007 3,393 3% 2,218 –762 –2%Acquisitions and divestments 2,126 10,651 8% 1,344 3,607 11%Exchange-rate effects 10,653 5,879 5% 2,237 –35 0%Operating income (EBIT)1, SEK M 18,532 22,185 20% 5,186 5,427 5%Operating margin (EBITA)1, % 15.9% 16.5% 16.6% 16.3%Operating margin (EBIT)1, % 15.3% 15.8% 16.0% 15.4%Income before tax1, SEK M 17,521 19,654 12% 4,843 4,616 –5%Net income1, SEK M 13,296 15,049 13% 3,692 3,462 –6%Operating cash flow, SEK M 15,808 25,232 60% 4,069 3,096 –24%Earnings per share1, SEK 11.97 13.54 13% 3.32 3.12 –6%
[1] Excluding items affecting comparability. Please see the section “Items affecting comparability” in the report for further details about the financial effects in 2024. For information about items affecting comparability in 2023, please see the Year-end report 2023, available at assaabloy.com. Comments by the President and CEO
Strong execution in a challenging marketThe year took off with strong sales growth of 9%, driven by very strong net acquired growth of 11%, which was partly offset by an organic sales decline of –2%. The organic sales were affected by three fewer working days in March, the most important month of the quarter and a continued weak residential market. Entrance Systems’ organic sales were stable with very strong growth in Perimeter and strong growth in the Pedestrian segment. Organic sales in Americas and EMEIA declined by –1% and –3% respectively. Asia Pacific’s organic sales declined by –3% due to a weak Chinese market and negative intra-group sales growth. Global Technologies’ organic sales declined by –9% against a high corresponding figure last year due to the significant reduction of the backlog a year ago.
The operating profit excluding items affecting comparability increased by 5% to SEK 5,427 M, and the operating margin was record-high for the quarter at 16.3%, excluding the HHI transaction. Strong operational execution through implementation of more cost actions, continued strong price realization and lower direct material costs contributed to the strong performance. The operating cash flow was seasonally lower at SEK 3,096 M with a cash conversion of 67%.
Security is a strong underlying driver for long-term growthThe demand for safe and secure access solutions is constantly increasing as a result of rising security threats, public safety concerns, regulatory requirements and a changing work environment. This also accelerates the demand for electromechanical products and solutions. They offer a high level of security thanks to advanced authentication methods, our unique encryption technologies, the enablement of remote monitoring & control as well as by providing audit trails and access logs. Electromechanical solutions also offer opportunities for efficiency gains and a higher level of convenience and flexibility for our customers. With prevailing penetration rates still low, the shift to more electromechanical solutions continues to be a long-term driver of profitable growth. During the quarter, our electromechanical organic sales growth was 6% in the regional divisions.
We acquired three companies in the first quarter, representing annualized sales of SEK 2 billion. The integration of HHI continues to proceed according to plan and we are gradually realizing more synergies. Given a robust target pipeline and a solid financial position with a strong balance sheet and cash flow, we are well positioned to continue our successful journey of acquiring companies.
We are committed to delivering value to our customers and shareholders and are confident that we will be able to adapt to and perform in any market condition.
Thank you for your continued support and trust in ASSA ABLOY.
Stockholm, April 24, 2024
Nico DelvauxPresident and CEO
Further information can be obtained from:Nico Delvaux,President and CEO, tel. no: +46 8 506 485 82
Erik Pieder,Executive Vice President and CFO, tel.no: +46 8 506 485 72
Björn Tibell,Head of Investor Relations, tel. no: +46 70 275 67 68,e-mail: bjorn.tibell@assaabloy.comASSA ABLOY is holding a telephone and web conference at 09.30 on April 24, 2024 which can be followed online at assaabloy.com/investors.It is possible to submit questions by telephone on: 08–505 100 31, +44 207 107 0613 or +1 631 570 5613This information is information that ASSA ABLOY AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CEST on April 24, 2024.
Conditions for participation
Shareholders may choose to participate in, and vote at, the Meeting in person or in advance. Shareholders who wish to participate in the Meeting must be recorded in the share register maintained by Euroclear Sweden AB (“Euroclear”) concerning the circumstances on Friday 17 May 2024.
In addition, the shareholders must give notice of their participation in the Meeting:
· Shareholders who choose to participate in, and vote at, the Meeting in person must give notice of participation no later than Tuesday 21 May 2024. Notice of participation may be submitted by e-mail to proxy@computershare.se (with reference to “EQT AGM 2024”), by mail to Computershare AB, “EQT AGM 2024”, Box 5267, SE-102 46 Stockholm, Sweden, or by telephone to Computershare AB +46 8 46 00 73 80. Natural persons with BankID are primarily asked to submit their notice of participation on EQT’s website, www.eqtgroup.com/AGM. · Those who choose to vote in advance must give notice of participation by submitting their advance vote in accordance with the instructions in the “Advance voting” section below so that the advance vote is received by Computershare AB no later than Tuesday 21 May 2024.
When giving notice of participation, please state name, personal identification number or corporate registration number, address, telephone number and e-mail address. If you wish to be represented by proxy, this must be notified within the same time and in the same manner as stated above and a power of attorney as well as other relevant supporting documents must be attached.
To be entitled to participate in the Meeting, in addition to providing notification of participation, a shareholder whose shares are held in the name of a nominee must register its shares in its own name so that the shareholder is recorded in the share register as of Friday 17 May 2024. Such registration may be temporary (so-called voting right registration) and is requested from the nominee in accordance with the nominee’s procedures and such time in advance as the nominee determines. Voting right registrations completed no later than the second banking day after Friday 17 May 2024 are taken into account when preparing the register of shareholders.
Simultaneous translation (Swedish/English and English/Swedish) will be offered at the Meeting venue.
Attendance in person
If you wish to participate in the Meeting in person, you must give notice as instructed above. Registration will commence at 14.00 CEST and fika will be served ahead of the Meeting.
Advance voting
You may exercise your voting rights at the Meeting by voting in advance, so called postal voting. To vote in advance, please use the form for advance voting available on www.eqtgroup.com/AGM.
If a shareholder has voted in advance and has notified its participation to attend the Meeting at the meeting venue, the vote cast in advance is still valid to the extent that the shareholder does not participate in a voting procedure at the Meeting or otherwise withdraws the advance vote. If the shareholder chooses to participate in a voting at the Meeting, the vote cast will replace the previously submitted advance vote with regard to the relevant item on the agenda.
The completed and signed advance voting form must be received by Computershare AB (administering the forms on behalf of EQT) no later than Tuesday 21 May 2024, either by using BankID, by e-mail to proxy@computershare.se (with reference “EQT AGM 2024”) or by mail to Computershare AB, “EQT AGM 2024”, Box 5267, SE-102 46 Stockholm, Sweden. If the shareholder votes in advance by proxy, the power of attorney shall be enclosed to the form or submitted in accordance with the instructions in the form. If the shareholder is a legal entity, a registration certificate or a relevant supporting document shall be enclosed to the form or submitted in accordance with the instructions in the form. The shareholder may not add any specific instructions or conditions in the voting form. If so, the vote will be invalid.
Further instructions and conditions are included in the form for advance voting.
Webcast
Shareholders as well as non-shareholders have the opportunity to follow the Meeting online via a link that will be available on EQT's website, www.eqtgroup.com/AGM. For persons following the Meeting online, simultaneous translation will be offered via subtitles. It is not possible to exercise any shareholder rights via the webcast.
Questions and shareholders’ right to receive information
The shareholders are reminded of their right to receive information from the Board and the CEO in accordance with Chapter 7 Section 32 of the Swedish Companies Act. Requests for such information may be submitted in advance by e-mail to agm@eqtgroup.com or by mail to EQT AB, “AGM 2024”, Box SE-164 09 Stockholm, Sweden.
Shares and votes
As per the date of this notice, EQT’s share capital amounts to approximately SEK 125,335,166 represented by 1,245,929,967 shares divided into 1,245,048,412 ordinary shares and 881,555 class C shares. Ordinary shares carry one vote while class C shares carry 1/10th vote. As per the time of this notice, EQT holds 60,574,829 own ordinary shares, corresponding to 60,574,829 votes, which cannot be represented in the Meeting.
Proposed agenda
1. Opening of the Meeting 2. Election of chairperson of the Meeting 3. Preparation and approval of the voting list 4. Approval of the agenda 5. Election of one or two persons who shall approve the minutes of the Meeting 6. Determination of whether the Meeting has been duly convened 7. Presentation by the CEO 8. Presentation of the annual report as well as the consolidated financial statements and the auditors’ report 9. Resolution regarding adoption of the income statement and the balance sheet, as well as the consolidated income statement and the consolidated balance sheet10. Resolution regarding allocation of EQT’s profit in accordance with the adopted balance sheet11. Resolution regarding discharge of liability for the Board members and the CEO12. Resolution on: a. the number of Board members who shall be appointed by the Meeting b. the number of auditors and deputy auditors who shall be appointed by the Meeting
13. Resolution on: a. fees to the Board members b. transfer of own shares to Board members c. fees to the auditors
14. Election of Board members and Chairperson of the Board a. Conni Jonsson, re-election b. Brooks Entwistle, re-election c. Diony Lebot, re-election d. Gordon Orr, re-election e. Marcus Wallenberg, re-election f. Margo Cook, re-election g. Richa Goswami, new election h. Chairperson of the Board: Conni Jonsson, re-election
15. Election of auditors and deputy auditors16. Resolution on principles for appointment of the nomination committee17. Presentation of the Board’s remuneration report for approval18. Resolution on guidelines for remuneration to executive management19. Resolution on authorization for the Board to issue shares, convertible bonds and warrants20. Resolution on authorization for the Board to resolve on repurchase of own shares21. Resolution on reduction of the share capital through cancellation of ordinary shares held in treasury and on increase of the share capital through a bonus issue22. Closing of the Meeting
The Board’s proposals
Item 10 – Allocation of EQT’s profit in accordance with the adopted balance sheet
The Board proposes a dividend to the shareholders of SEK 3.60 per share for the fiscal year 2023. The dividend is proposed to be paid out in two installments. At the first installment, SEK 1.80 with record date 29 May 2024. At the second installment, SEK 1.80 with record date 2 December 2024. Should the Meeting resolve in favor of the proposal, payment of the dividend is expected to be facilitated by Euroclear on 3 June 2024 and on 5 December 2024, respectively.
Item 18 – Guidelines for remuneration to executive management
The Board proposes that the Meeting adopts the following guidelines for remuneration to the CEO and other members of the Executive Committee.
Guidelines for executive remuneration (remuneration policy)
The CEO and other members of the Executive Committee (executive management) fall within the provisions of these guidelines. To the extent a Board member conducts work for EQT, in addition to the board work, consulting fees and other compensation for such work may be paid. The guidelines are forward-looking, i.e. they are applicable to remuneration agreed, and amendments to remuneration already agreed, after adoption of the guidelines by the Annual Shareholders’ Meeting 2024. These guidelines do not apply to any remuneration separately decided or approved by the shareholders’ meeting.
EQT has a clear remuneration philosophy (including for variable cash) applicable across the whole group which also governs the remuneration to the Executive Committee and links compensation to the EQT AB Group’s business strategy, sustainability, long-term interests and long-term value growth for its shareholders.
Most important is to incentivize fund performance and ensure aligned interest with our limited partners in the EQT funds, EQT AB’s shareholders as well as EQT’s long term approach. EQT is a performance driven organization focused on long-term value creation in line with our culture. Team performance and individual performance are important – therefore we reward both. Performance is key to our success and we award higher performance with higher compensation.
To be able to achieve the business goals, EQT needs to be able to attract and retain world class talent suitable for each role. To achieve this, EQT applies market competitive total compensation.
EQT compensates locally based on geography and in line with local practice and regulations, taking into account, to the extent possible, the overall purpose of these guidelines.
The principles in these guidelines enable EQT AB to offer the Executive Committee a competitive total remuneration.
For more information regarding the EQT AB Group’s business strategy, please see EQT AB’s webpage, www.eqtgroup.com.
Share-related incentive programs
The EQT Share Program and the EQT Option Program are implemented in the EQT AB Group. The programs were resolved by the Annual Shareholders’ Meeting 2023 and are therefore excluded from these guidelines. The EQT Option Program includes members of the Executive Committee in EQT AB. The performance criteria used to assess the outcome of the EQT Option Program are tied to the individual’s current role scope and contribution to EQT’s performance through value creation and future proofing, the share price development, adding value to the wider EQT Platform as well as impact on delivering on EQT’s sustainability ambitions. The participants will receive employee stock options free of charge, with an exercise period occurring during a one-month period. Each employee stock option entitles the participant to acquire one ordinary share in EQT AB at a price corresponding to the price per ordinary share as of the date of grant, subject to a net strike mechanism, cap on the gain per employee stock option and customary recalculation mechanisms. For the EQT Share Program, the performance targets are tied to the EQT AB Group’s financial targets, EQT’s general competitiveness, the individual meeting or exceeding EQT’s highly set expectations on adding value to the EQT Platform as well as impact on delivering on EQT’s sustainability ambitions. The program includes Partners and senior employees, members of the Executive Committee are generally not participants of the EQT Share Program. The participants invest a variable amount (financed by EQT) in ordinary shares after a performance year, whereupon an approximately three-year holding period follows. The Annual Shareholders’ Meeting 2019 also resolved on an EQT Share Program, under which no new investments in EQT AB shares are made, with holding periods until 2026. For more information regarding the EQT Share Program and EQT Option Program, including the criteria which the outcome depends on, please see EQT AB’s remuneration report, available on eqtgroup.com/shareholders/.
Types of remuneration, etc.
The remuneration shall be on market terms and may consist of the following components: fixed remuneration, variable cash remuneration, pension benefits and other benefits. The shareholders’ meeting may – irrespective of these guidelines – resolve on, among other things, share-related or share price-related remuneration.
Fixed remuneration
The fixed remuneration, i.e. base salary, should be competitive and reflect responsibility and performance.
Variable remuneration
The satisfaction of criteria for awarding variable cash remuneration, within the EQT Bonus program, shall be measured over a period of one year. The variable cash remuneration may amount to no more than 200 percent of the annual base salary.
The EQT Bonus program consists of a performance assessment of the business as well as an individual performance assessment. Important business performance factors determining the size of the bonus is the success of the underlying business measured by business performance in the funds (investments and exits as well as portfolio and fund performance), business profitability, fundraising, sustainability as well as organizational development. The individual performance is assessed versus agreed targets as well as meeting, exceeding or not meeting high set individual performance expectations for the individual in the current role.
To which extent the criteria for awarding variable cash remuneration has been satisfied shall be evaluated/determined when the measurement period has ended. The remuneration committee shall be responsible for the evaluation so far as it concerns variable remuneration to the CEO. For variable cash remuneration to other members of the Executive Committee, the CEO shall be responsible for the evaluation. For financial objectives, the evaluation shall be based on the latest financial information made public by EQT AB.
The Executive Committee partly consists of owners of EQT AB. Owners that owned above 1.5 percent of the shares of EQT AB at IPO or at relevant acquisition may not be comprised by the EQT Bonus program, i.e. variable cash remuneration, nor any of the relevant share-related incentive programs. Therefore, total remuneration for part of the Executive Committee consists of base salary, pension benefits and other benefits.
Pension
All members of the Executive Committee shall be covered by defined contribution pension plans, for which pension premiums shall be based on the members’ base salary and paid by the company during the period of employment. For current members of the Executive Committee pension contributions shall be based on base salary and follow contribution levels in accordance with local market practice, except for the application of a cap. For Sweden, this means that it shall be comparable to the old BTP-plan with a contribution cap for base salary exceeding 40 Income base amounts. The pension premiums shall amount to no more than 25 percent of the annual base salary.
Other benefits
Other benefits, such as insurances (health, life, travel), sports contributions or occupational health services, should be payable to the extent this is considered to be in line with market conditions in the market concerned. Premiums and other costs relating to such benefits may amount to no more than 25 percent of the annual base salary. Executive Committee members who relocate for the purposes of the position or who work in other multiple countries may also receive such remuneration and benefits as are reasonable to reflect the special circumstances associated with such arrangements, taking into account the overall purpose of these guidelines and alignment with the general policies and practices within EQT AB Group applicable to cross border work.
Recommendation to invest in EQT AB shares
The Board recommends each Executive Committee member (who do not already have such holding) to acquire, over a three-year period, EQT AB shares or similar instruments corresponding to at least one year’s base salary, before taxes and excluding other remuneration.
Termination of employment and terms for severance pay for the CEO
A twelve month notice period will apply if notice is given by the CEO or EQT AB. The CEO’s employment terms include a non-competition clause. If used, this would entitle the employee to an additional compensation corresponding to a maximum of twelve months’ salary, however, reduced by any remuneration paid by a new employer.
Termination of employment and terms for severance pay for senior executives
In the event of notice being given by the EQT AB Group, a notice period of nine months applies, while in the event of notice being given by the senior executive a period of notice of six months applies. The senior executives’ employment terms also include a non-competition clause. If used, this entitles the employee to an additional compensation corresponding to a maximum of nine months’ salary, however, reduced by any remuneration paid by a new employer. Base salary during the notice period and severance pay may not together exceed an amount corresponding to the base salary for eighteen months. When termination is made by the executive, the notice period may not exceed six months, without any right to severance pay.
Salary and employment conditions for employees taken into account during preparations of these guidelines
In the preparation of the Board’s proposal for these remuneration guidelines, salary and employment conditions for employees of the EQT AB Group have been taken into account by including information on the employees’ total income, the components of the remuneration and increase and growth rate over time, in the remuneration committee’s and the Board’s basis of decision when evaluating whether the guidelines and the limitations set out herein are reasonable.
The decision-making process to determine, review and implement the guidelines
The Board has established a remuneration committee. The committee’s tasks include preparing the Board’s decision to propose guidelines for executive remuneration. The Board shall prepare a proposal for new guidelines at least every fourth year and submit it to the shareholders’ meeting. The guidelines shall be in force until new guidelines are adopted by the shareholders’ meeting. The remuneration committee shall also monitor and evaluate programs for variable remuneration for the Executive Committee, the application of the guidelines for executive remuneration as well as the current remuneration structures and compensation levels in the EQT AB Group. The current members of the remuneration committee are independent of EQT AB and its Executive Committee. The CEO and other members of the Executive Committee do not participate in the Board’s processing of and resolutions regarding remuneration-related matters in so far as they are affected by such matters.
Deviation from the guidelines
The Board may temporarily resolve to deviate from the guidelines, in whole or in part, if in a specific case there may be special cause for the deviation and a deviation should be necessary to serve the EQT AB Group’s business strategy, sustainability, long-term interests and long-term value growth for its shareholders, or to ensure the EQT AB Group’s financial viability. As set out above, the remuneration committee’s tasks include preparing the Board’s resolutions in remuneration-related matters. This includes any resolutions to deviate from the guidelines.
Description of material changes to the guidelines and how the views of shareholders’ have been taken into consideration
Compared to the guidelines previously adopted the following material changes have been made, the guidelines have been adjusted to ensure that suitable compensation can be provided in case of relocations and cross-border work, which is important considering the EQT AB Group’s global operations.
Item 19 – Authorization for the Board to issue shares, convertible bonds and warrants
The Board proposes that the Meeting resolves to authorize the Board to, during the period until the next Annual Shareholders’ Meeting, on one or more occasions, resolve upon issuances of new shares, convertible bonds and/or warrants to be paid in cash, by way of set-off and/or in kind. Shares, convertible bonds and/or warrants may be issued without preferential rights for the shareholders of EQT AB. The number of shares, convertible bonds and/or warrants issued may not correspond to a dilution of more than 10 percent of the total number of shares as of the first exercise of the proposed authorization, after full exercise of the hereby proposed authorization.
The purpose of the authorization is to provide flexibility for acquisitions of companies, businesses or parts thereof, as well as to increase financial flexibility for EQT and broaden the shareholder base. Any issue of new shares resolved upon pursuant to this authorization shall be made at market terms and conditions, taking into account the transaction as a whole. Warrants may be issued free of charge.
The Group General Counsel, Corporate, of EQT AB is authorized to make such minor adjustments to this resolution that may be necessary in connection with the registration thereof.
Item 20 – Authorization for the Board to resolve on repurchase of own shares
The Board proposes that the Meeting resolves to authorize the Board to decide on purchases of the company’s own ordinary shares as follows:
The Board is authorized to make purchases of the company’s ordinary shares on as many occasions as it deems appropriate during the period up to the Annual Shareholders’ Meeting 2025. The number of shares purchased must at no time result in the company’s holding exceeding 10 percent of all the shares in the company.
The purchases are to be made on Nasdaq Stockholm or in accordance with an offer to acquire shares directed to all shareholders of the same share class or through a combination of these two alternatives. Acquisition of shares on Nasdaq Stockholm shall be made at a price per share within the price interval applicable at the time of acquisition. Acquisitions of shares by way of offers to acquire shares directed to all the company’s shareholders of the same share class shall be made at an acquisition price which is no more than 15 percent above the prevailing market price and no less than SEK 0.
The purposes of the authorization are to enable the Board to adjust the company’s capital structure, enable acquisitions of companies and business operations where payment is made with own shares, deliver shares to Board members as Board fee in accordance with items 13a-b as well as mitigate the dilution impact from the company’s incentive programs and acquisitions made by EQT.
Item 21 – Reduction of share capital through cancellation of ordinary shares held in treasury and increase of share capital through bonus issue
The Board proposes that the Meeting resolves to reduce the share capital, for allocation to non-restricted equity, by canceling 3,923,000 ordinary shares held in treasury by EQT, through which the share capital decreases by SEK 394,636.84. The purpose of the reduction is to cancel ordinary shares held in treasury to, over time, off-set the dilution impact from shares delivered to participants in EQT’s Share and Option Incentive Programs.
To restore the share capital following the decrease in the share capital, the Board proposes that the Meeting at the same time resolves to increase the share capital by SEK 394,636.84 through a bonus issue without issuing new shares, whereby the amount is to be transferred from non-restricted equity.
Statement pursuant to Chapter 20 Section 13 of the Swedish Companies Act:
The effect of the Board’s proposal to decrease the share capital is that the share capital and restricted equity decrease by SEK 394,636.84. The effect of the Board’s proposal to increase the share capital through a bonus issue is that the share capital and restricted equity increase by SEK 394,636.84. Therefore, and overall, there is no decrease in the share capital or restricted equity.
The nomination committee’s proposals
The nomination committee, consisting of Jacob Wallenberg (appointed by Investor AB and Chairperson of the nomination committee), Harry Klagsbrun (appointed by Bark Partners AB), Cynthia Lee (appointed by Jean Eric Salata), Anders Oscarsson (appointed by AMF Pension & Funds) and Conni Jonsson (Chairperson of the Board), jointly representing approximately 37 percent of the voting rights for all the shares in EQT as of 31 August 2023, proposes the following:
Item 2 – The chairperson of the Meeting
Attorney Charlotte Levin or, in case she is prevented, the person assigned by the nomination committee instead.
Item 12a – The number of Board members who shall be appointed by the Meeting
Seven Board members without deputy Board members, conditional upon that necessary regulatory approvals from the Netherlands Authority for the Financial Markets, the Swedish Financial Supervisory Authority and the Swedish Corporate Registration Office with respect to Richa Goswami are obtained no later than 31 October 2024 (the “Approvals”), and otherwise six Board members without deputy Board members.
Item 12b – The number of auditors and deputy auditors who shall be appointed by the Meeting
One registered auditing company as auditor and no deputy auditors.
Item 13a – Fees to the Board
A total compensation to the Board of EUR 1,375,500 (1,343,640), to be allocated as follows:
· EUR 304,500 (295,800) to the Chairperson and EUR 138,500 (134,640) to each of the other Board members who are not employed by the company, · EUR 40,000 (40,000) to the Chairperson of the audit committee and EUR 20,000 (20,000) to each of the other two members, · EUR 40,000 (40,000) to the Chairperson of the remuneration committee and EUR 20,000 (20,000) to each of the other two members, and · EUR 40,000 (40,000) to the Chairperson of the sustainability committee and EUR 20,000 (20,000) to each of the other two members.
Should the Approvals not be obtained for Richa Goswami, the total compensation to the Board will instead be EUR 1,237,000.
The aforementioned compensation to the Board shall, provided that the majority requirement under item 13b is met, be paid in shares at the end of the mandate period. The number of shares to be transferred shall equal the total compensation each Board member is entitled to receive, less applicable Swedish taxes that would have been withheld if the Board compensation would have been paid in cash, divided by the share price. In the event the compensation does not correspond to the value of a full share, any remaining compensation shall lapse.
Should the majority requirement for item 13b below not be met or to the extent, for whatever reason, the compensation cannot be paid in shares, the compensation is to be paid in cash.
The nomination committee recommends that each Board member in EQT AB holds shares corresponding to at least 50% of the EQT AB shares received as Board and Committee fees, after tax, during the Board member’s tenure.
Item 13b – Transfer of own shares to Board members
The nomination committee proposes that the Meeting resolves that ordinary shares that EQT AB holds shall be transferred to Board members to set off the claim the Board members have on Board compensation pursuant to item 13a. The number of ordinary shares that may be transferred may amount to not more than 100,000. The shares shall be transferred to the Board members the trading day before the next Annual Shareholders’ Meeting. The price for the shares shall be the volume weighted average share price of EQT AB’s share on Nasdaq Stockholm ten trading days before the day of the transfer and using the average exchange rate during the same time period.
Item 13c – Fees to the auditors
Auditors’ fees are proposed to be paid upon approval of their invoice.
Item 14 – The Board members and Chairperson of the Board
The following persons are proposed for re-election as Board members for the period until the end of the Annual Shareholders’ Meeting 2025: Conni Jonsson, Brooks Entwistle, Diony Lebot, Marcus Wallenberg, Margo Cook and Gordon Orr. Conni Jonsson is proposed to be re-elected as Chairperson of the Board.
Richa Goswami is proposed for election as new Board member for the period until the end of the Annual Shareholders’ Meeting 2025, conditional upon the Approvals being obtained.
Item 15 – The auditors and deputy auditors
The registered auditing company KPMG AB is proposed to be re-elected as auditor for the period until the end of the Annual Shareholders’ Meeting 2025. KPMG AB has informed that, subject to the approval of the proposal from the nomination committee regarding auditor, authorized public accountant Håkan Olsson Reising will continue to be the auditor in charge for the audit. The nomination committee’s proposal is consistent with the audit committee’s recommendation.
Item 16 – Principles for appointment of the nomination committee
The nomination committee proposes that the Meeting resolves on changes to the principles for appointment of the nomination committee.
Principles for appointment of a nomination committee in EQT AB (the “Company”).
1. The nomination committee shall comprise one member appointed by each of the four largest shareholders, based on ownership in the Company on the last banking day of August the year before the annual shareholders’ meeting (based on shareholder data from Euroclear Sweden AB and other reliable data provided to the Company) and the Chairperson of the Board. If any shareholder renounces its right to appoint a member to the nomination committee, such right shall transfer to the shareholder who is the next largest shareholder in the Company.
2. If none of the four largest shareholders is (a) a Member in EQT Foundation’s Member Committee (“EQT Member”) or (b) EQT Foundation, the fourth largest shareholder’s right shall instead vest in EQT Foundation. Thus, an EQT Member or EQT Foundation shall always be allowed to appoint a member of the nomination committee. If EQT Foundation renounces such right, the right shall transfer to the fourth largest shareholder pursuant to section 1.
3. The member appointed by the largest shareholder shall be appointed Chairperson of the nomination committee, unless the nomination committee unanimously appoints someone else. The Chairperson of the nomination committee shall not be a Board member of the Company.
4. If a shareholder (pursuant to section 1 or section 2) that has appointed a member to the nomination committee is no longer one of the shareholders who is given such right, at any point in time up to three months before the annual shareholders’ meeting: · the member appointed by such shareholder shall resign; and · the shareholder who is the next largest shareholder in the Company (that has not appointed a member) or EQT Foundation (pursuant to section 2) shall have the right to appoint one member to the nomination committee.
Unless specific reasons suggest otherwise, the existing composition of the nomination committee shall, however, remain unchanged if such change in the ownership in the Company is only marginal or occurs during the three-month period prior to the annual shareholders’ meeting. If a shareholder/EQT Foundation otherwise should have the right to appoint a member due to a material change in the ownership of the Company at any time during the three-months period prior to the annual shareholders’ meeting, such shareholder/EQT Foundation shall, in any event, have the right to take part in the work of the nomination committee and participate in its meetings.
5. If a member resigns from the nomination committee before his or her work is completed, the shareholder (pursuant to section 1 or section 2) who has appointed such member shall appoint a new member, unless section 4 is applicable. 6. A shareholder (pursuant to section 1 or section 2) who has appointed a member to the nomination committee shall have the right to dismiss such member and appoint a new member. 7. Changes to the composition of the nomination committee shall be disclosed publicly as soon as possible. 8. The nomination committee’s appointment ends when the next nomination committee has been appointed. 9. If needed, the Company shall reimburse reasonable costs which the nomination committee deems necessary in order for the nomination committee to fulfill its assignment.10. These instructions shall apply until further notice.
Majority rules
The Board’s proposals under items 19, 20 and 21 on the agenda are subject to the approval at the Meeting with at least two-thirds (2/3) of both the votes cast and of the shares represented at the Meeting. The nomination committee’s proposal under item 13b on the agenda is subject to the approval at the Meeting with at least nine tenths (9/10) of both the votes cast and of the shares represented at the Meeting.
Further information
Information about all persons proposed as Board members and the nomination committee’s motivated statement regarding the proposal for the Board can be found on EQT’s website: www.eqtgroup.com/AGM.
The annual report, the remuneration report and other documents are available at EQT’s head office at Regeringsgatan 25 in Stockholm, Sweden and on EQT’s website: www.eqtgroup.com/AGM. These documents, together with information regarding the persons proposed as Board members, information about the proposed auditor and the nomination committee’s motivated statement are presented by being available on EQT’s website and at EQT’s head office in accordance with the above. They will also be sent free of charge to the shareholders who so request and state their postal address.
Proxy forms for shareholders who wish to vote by proxy are available on EQT’s website: www.eqtgroup.com/AGM, and will be sent free of charge to the shareholders who so request and state their postal address.
EQT’s registration number is 556849-4180, and its registered office is in Stockholm, Sweden.
For information on how personal data is processed, see: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.
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Stockholm, April 2024
EQT AB (publ)
The Board
Richa Goswami has in-depth knowledge and multi-sector experience from leading positions within Brand & Marketing across multiple geographies in the financial services and FMCG (fast-moving consumer goods) industry. Most recently she has worked at Fidelity International as their Group Chief Marketing and Brand Officer based out of Singapore.
Prior to joining Fidelity International, Richa was the Chief Customer and Marketing Officer at HSBC, where she has spent over a decade in various capacities in Asia, Europe and United States. She has also been the Global Chief Digital Officer at Johnson & Johnson and the Global Head, Next Generation Banking, at Standard Chartered Bank and brings vast international experience within her field.
Jacob Wallenberg, Chairperson of the Nomination Committee, comments: “Richa Goswami’s experience from building international brands across multiple industries will add vital perspectives to EQT’s continued journey. In today’s global market it is imperative to have a strong brand to be able to attract future talent and customers.”
Johan Forssell has declined re-election, after serving on the Board for nine years. Conni Jonsson, Chairperson of the EQT AB Board, comments: “Johan is the longest serving Board member in EQT and his focus on long-term value creation and ownership has been much appreciated in the Board room. I am grateful for Johan’s contributions, especially during the IPO process, his support was instrumental in our first step as a listed company.
Conni Jonsson continues, “I’m very much looking forward to welcoming Richa Goswami to the Board, her energy and multifaceted background will be an excellent addition and will also contribute to a better balance of the Board composition. Richa Goswami’s comprehensive track record of building global brands in a wide range of different sectors will strengthen EQT’s growth journey. I would also like to thank the members of the Nomination Committee for their dedicated work in this process.”
The Nomination Committee’s complete proposals to EQT AB’s Annual Shareholders’ Meeting are included in the notice and the nomination committee’s motivated opinion, published on EQT’s website. The Annual Shareholders’ Meeting will be held on 27 May 2024. The election of Richa Goswami as new Board member is subject to relevant regulatory approvals.
The Nomination Committee has been appointed based on the ownership structure as of 31 August 2023, and consists of Jacob Wallenberg (Chairperson), appointed by Investor AB, Harry Klagsbrun, appointed by Bark Partners AB, Cynthia Lee, appointed by Jean Eric Salata, Anders Oscarsson, appointed by AMF Pension & Funds and Conni Jonsson, Chairperson of the Board of EQT AB.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
The ten-year framework agreement is the starting point for a deeper cooperation between MilDef and BAE Systems Bofors. The orders now won are a natural continuation of the collaboration and concern volume orders of previously developed products as well as spare parts for existing systems.
"Our cooperation combines two Swedish defense companies that are specialists in their respective fields. MilDef is trusted to contribute with our expertise; to deliver future-proof IT systems that strengthen the protection of our society and we are proud of the way we cooperate with BAE Systems in Karlskoga," says Daniel Ljunggren, President and CEO of MilDef Group.
BAE Systems Bofors is part of BAE Systems, which has operations in the US, Sweden and the UK. BAE Systems Bofors manufactures artillery and gun systems and ammunition for land and naval applications. These include anti-aircraft gun systems and platform-mounted firing systems.
The information was submitted for publication, through the agency of the contact persons set out below, at 11:00 CET on April, 24, 2024.
Herning, Denmark, 24 April 2024 - Everfuel A/S today provides an update on the commissioning of the 20 MW HySynergy 1 electrolyser.
The Company continues to progress commissioning focused on the sub-systems required to start production and delivery of green hydrogen. As previously communicated, the main electrolyser facility is ready for start-up, while some sub-systems experience delays following commissioning tests. This is impacting the planned start-up of the HySynergy 1 facility with production now expected to commence in the second half of 2024.
Testing, verification and certification is being executed in close cooperation with the electrolyser supplier, Nel, and other sub-suppliers with focus on the following areas:
· High-pressure systems · Compressors · Finalisation of software and automation, documentation and certifications
Since leakage was detected in February 2024, the electrolyser supplier has been working on completing the rebuild of the deoxidiser, which removes oxygen and moisture from the hydrogen flow as part of the electrolyser’s high-pressure auxiliary system. The supplier has implemented a solution currently awaiting PED (pressure equipment directive) certification. Everfuel and the electrolyser supplier agree that a safe and long-term robust solution is in the interest of both parties.
Everfuel has implemented additional safety measures to ensure integrity of the plant resulting in identification of a leakage during verification test of the rebuild gas holder, which serves a pressure balancing and safety function. The unit requires onsite rebuild and solutions are currently being investigated by the electrolyser supplier.
Everfuel and sub-suppliers have committed highest attention and priority for completing the remaining commissioning steps which are strongly interdependent with certain steps subject to specific time windows for external expertise to undertake testing and verification. As a consequence of the mentioned activities, commissioning of the main compressor, final validation of the high-pressure system and completion of the automation and software system are affected.
“We are currently experiencing some technical challenges related to a couple of Balance of Plant modules that Nel has the responsibility for. Although these modules are not part of Nel’s current standard project scope, we remain committed to fixing the problems in close cooperation with Everfuel’s team. Nel will also support Everfuel on other technical challenges, which are not part of Nel’s scope of supply, in order to bring HySynergy 1 safely into operation as soon as possible”, said Håkon Volldal, Nel’s CEO.
“Implementation of a safe and long-term sustainable hydrogen production facility is of the absolute highest priority of Everfuel. We are working very closely with partners and suppliers to make sure this is completed in a good collaborative manner as fast as possible. Pioneering the hydrogen industry is a challenge for all participants. Together we will succeed, building unique competences along the way, positioning us to capitalise on the fast-growing hydrogen market,” said Jacob Krogsgaard, the founder and CEO of Everfuel
We strongly encourage stakeholders to watch the following video where CEO, Jacob Krogsgaard explain the complexities in the HySynergy commissioning process. Link: HySynergy 1 update
For further information, please contact:
Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945Mads Tirsgaard Mortensen, Investor Relations Director, Everfuel, mm@everfuel.com, +45 7730 4727
About Everfuel | www.everfuel.com
Everfuel is making green hydrogen for zero emission industry and mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply and fuelling solutions. We own and operate green hydrogen infrastructure and partner with industry and vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean energy carrier made from renewable solar and wind power and key to decarbonising industry and transportation in Europe. We are an ambitious, rapidly growing company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands and Germany, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Mads Tirsgaard Mortensen, Director of Investor Relations, at Everfuel A/S on the date and time provided.