JOC › Maritime News › International Freight Shipping
DFDS profit up 10 percent on sea freight growth
Bruce Barnard, Special Correspondent | May 20, 2017 9:17AM EDT
LONDON — DFDS’s earnings increased more than 10 percent in the first quarter on rising sea freight volume on its North European roll-on, roll-off routes. The Danish shipping and logistics company is on track to top last year’s record result.
Profit before special items and tax rose to 173 million krone ($25.4 million) from 157 million krone a year earlier, outpacing a 4.3 percent rise in revenue to 3.2 billion krone from 3.1 billion krone.
Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 2.3 percent to 414 million krone on higher profit in the shipping division as rising freight traffic offset lower passenger sales in the low season.
“We achieved a [first quarter] result ahead of last year. Combined with a continued positive outlook for growth in Europe, we are on track in 2017 to further improve on the all-time high results of last year,” said Niels Smedegaard, CEO of the Copenhagen-based group.
DFDS, which operates a 50-ship fleet, boosted its 2016 operating profit 37 percent to 1.6 billion krone from 1.2 billion krone in 2015.
The company said the outlook for the European economy remains positive, with moderate growth levels expected to continue through 2017 in most of its markets, including the United Kingdom, where the economy remains resilient despite the uncertainty following the country’s vote to leave the European Union.
Overall sea freight volumes rose 7 percent in the first quarter and were 5 percent higher excluding the contribution of a Finland-Estonia route acquired in October 2016.
Shipping revenue rose 6.6 percent to 2.15 billion krone, boosted by higher freight traffic and “some” increased freight rates, but reduced by a drop in passenger volume and ticket prices.
North Sea freight volume was up 9.6 percent, with the strongest growth on the Netherlands-UK and Sweden corridors, outpacing a 3.3 percent rise on the English Channel service between France and the United Kingdom and a 2.8 percent increase on the route between Marseille and Tunis.
Baltic traffic was 19.2 percent higher than the first quarter of 2016, but flat after adjustment for the addition of the new Finland-Estonia route.
The year-over-year Baltic figures are impacted by a surge in 2016 volumes following a dispute between Moscow and Warsaw that restricted truck permits through Poland and shifted a considerable amount of traffic onto ships.
The logistics unit’s revenue stalled, and transport volume dipped 2.7 percent because of a significant reduction in traffic in Italy following the loss of a key contract and reduced demand from other customers.
DFDS said it expects full-year revenue to grow approximately 4 percent and reiterated its forecast for EBITDA before special items to be within a range of 2.6 billion krone to 2.8 billion krone
Bayer Receives FDA Priority Review For Investigational Anti-Cancer Compound Copanlisib
Regulatory submission based on data from the Phase II CHRONOS-1 study, in which copanlisib showed objective response rate of 59% and a manageable safety profile in patients with follicular lymphoma (FL) / Copanlisib is an intravenous pan-class I phosphatidylinositol-3-kinase (PI3K) inhibitor with predominant activity against PI3K-α and PI3K-δ isoforms / Copanlisib granted Fast Track and Orphan Drug Designation in the U.S. for FL
Berlin, May 17, 2017 - Bayer today announced that the U.S. Food and Drug Administration (FDA) has granted Priority Review designation for the New Drug Application (NDA) for copanlisib for the treatment of relapsed or refractory follicular lymphoma (FL) patients who have received at least two prior therapies. Copanlisib is an intravenous pan-class I phosphatidylinositol-3-kinase (PI3K) inhibitor with predominant inhibitory activity against PI3K-α and PI3K-δ isoforms. FL is the most common subtype of indolent non-Hodgkin's lymphoma (iNHL).
"Patients with relapsed or refractory follicular lymphoma have a poor prognosis, and new treatment options which are well tolerated and effective are needed to prolong progression-free survival and improve quality of life for these patients," said Martin Dreyling, Professor of Medicine at the University of Munich Hospital in Grosshadern and lead investigator of the CHRONOS-1 study. "Based on the CHRONOS-1 results, where copanlisib showed durable efficacy with a manageable and distinct safety profile, the compound may have the potential to address this unmet medical need."
"Bayer is advancing one of the most diverse oncology portfolios and pipelines and our first priority is to deliver new treatments to cancer patients as quickly and prudently as possible," said Robert LaCaze, Executive Vice President and Head of the Oncology Strategic Business Unit at Bayer. "With this milestone, we are one step closer to making copanlisib available in the U.S. to the community of doctors and patients facing a very difficult-to-treat disease in follicular lymphoma. We look forward to continuing to work with the FDA throughout the review process."
The FDA grants Priority Review for the applications of medicines that, if approved, would provide significant improvements in the safety or effectiveness of the treatment, diagnosis, or prevention of serious conditions, when compared to standard applications. Under the Prescription Drug User Fee Act (PDUFA), the FDA aims to complete its review within six months (compared to 10 months under standard review).
Fagerhult decides to keep Organic Response IoT tech in house (UPDATED)
Published on:June 6, 2017
By Mark Halper
Contributing Editor, LEDs Magazine, and Business/Energy/Technology Journalist
The Swedish vendor will no longer provide the prized IoT gear to rivals such as Feilo Sylvania and GE. It will develop it for its own brands only.
Fagerhult Group, the Swedish lighting company that recently acquired key Internet of Things (IoT) assets from Australia's struggling Organic Response, has decided to keep the technology in house and will not provide it to competitors such as Feilo Sylvania and General Electric, LEDs Magazine has learned.
Interested in articles & announcements on IoT and lighting?
The decision ends two months of speculation on whether Fagerhult would continue to supply others with hardware and software from what it has renamed OR Technologies Pty. Ltd, based in Melbourne.
“The strategy is to keep the OR technology in the group and not offer it through the OEM channel,” Fagerhult chief financial officer Michael Woods confirmed for LEDs via email this morning. “We look forward to the group opportunities this will bring across our many brands.”
Habo, Sweden-based Fagerhult operates at least 11 different lighting brands. Several of them, including Fagerhult, Australia's Eagle, and the UK's Whitecroft, use the OR technology.
[Native Advertisement]
All Organic Response roads now lead to Fagerhult headquarters (pictured), as the company will keep the newly renamed OR technology in house and will not provide it on an OEM basis. (Photo credit: Creative Commons.)
Organic Response was a startup that was highly regarded for technology that turns luminaires into IoT devices. Users deploy its sensors and other wares both to improve lighting control and to use lights to gather data on building use. For example, it can collect information on occupancy, which facilities managers use to decide how to reassign space. Or retailers can use it to engage in-store customers with discounts and information.
But as a pioneer in IoT lighting, Organic Response ultimately ran into financial difficulties and entered financial administration last February, before Fagerhult acquired many of its assets in early April.
While Organic Response had an impressive roster of customers using its technology for lighting control, it seemed to have a dearth of end users who were deploying it for data collection, which is where the potential business bonanza lies. Fagerhult is expected to pursue such opportunities, and to develop new generations of OR technology.
As LEDs reported in April, Fagerhult is in the process of restarting production of OR gear through contract manufacturer Flex. “All is proceeding to plan on all fronts — setup, production, marketing, and group engagement,” Wood said today.
Another problem that Organic Response faced was that competitors started to enter the market.
Meanwhile, one of Organic Response's highest-profile IoT customers, Feilo Sylvania, is expected as soon as next week to disclose new smart lighting initiatives as it adjusts to life after Organic Response. Fagerhult had arranged for interim supplies to customers such as Feilo, an arrangement that will now end — if it hasn't already — at some date that the parties did not publicly reveal.
“We have identified a number of solutions in the market which now offer the same benefits, and as a matter of fact do much more than the Organic Response solution,” said Bastiaan de Groot, Feilo's global director of strategy and new business development. “We have already started to migrate our customers to these new solutions and will publicly announce our new solutions next week.”
De Groot noted that Organic had been ahead of its time but that rivals have caught up. “Our customers are delighted that we can already offer them solutions with features that were previously more than 12 months away on our roadmap,” he said. “This is why we do not believe in making a solution proprietary. In the current market you will be out-innovated; we therefore have a strict open-innovation policy which allows us to offer our customers the best smart lighting technology in the market, regardless of whether we invented it ourselves or not.”
Feilo was one of the few vendors that was already using OR’s IoT technology for property management. It struck a deal last year with Dutch standards body NEN to install lighting that would help NEN better allocate offices, conference rooms and the like at NEN's Delft headquarters.
In addition to Feilo and GE's Current unit, other Organic Response customers have included Australian operations of Zumtobel and Thorn, as well as Holland's Koopman Interlight.
MARK HALPER is a contributing editor for LEDs Magazine, and an energy, technology, and business journalist ([email protected]).
*Updated 10:35am June 6, 2017 for announcement timing and quotes.
http://www.ledsmagazine.com/article...-keep-organic-response-iot-tech-in-house.html
Published on:June 6, 2017
By Mark Halper
Contributing Editor, LEDs Magazine, and Business/Energy/Technology Journalist
The Swedish vendor will no longer provide the prized IoT gear to rivals such as Feilo Sylvania and GE. It will develop it for its own brands only.
Fagerhult Group, the Swedish lighting company that recently acquired key Internet of Things (IoT) assets from Australia's struggling Organic Response, has decided to keep the technology in house and will not provide it to competitors such as Feilo Sylvania and General Electric, LEDs Magazine has learned.
Interested in articles & announcements on IoT and lighting?
The decision ends two months of speculation on whether Fagerhult would continue to supply others with hardware and software from what it has renamed OR Technologies Pty. Ltd, based in Melbourne.
“The strategy is to keep the OR technology in the group and not offer it through the OEM channel,” Fagerhult chief financial officer Michael Woods confirmed for LEDs via email this morning. “We look forward to the group opportunities this will bring across our many brands.”
Habo, Sweden-based Fagerhult operates at least 11 different lighting brands. Several of them, including Fagerhult, Australia's Eagle, and the UK's Whitecroft, use the OR technology.
[Native Advertisement]
All Organic Response roads now lead to Fagerhult headquarters (pictured), as the company will keep the newly renamed OR technology in house and will not provide it on an OEM basis. (Photo credit: Creative Commons.)
Organic Response was a startup that was highly regarded for technology that turns luminaires into IoT devices. Users deploy its sensors and other wares both to improve lighting control and to use lights to gather data on building use. For example, it can collect information on occupancy, which facilities managers use to decide how to reassign space. Or retailers can use it to engage in-store customers with discounts and information.
But as a pioneer in IoT lighting, Organic Response ultimately ran into financial difficulties and entered financial administration last February, before Fagerhult acquired many of its assets in early April.
While Organic Response had an impressive roster of customers using its technology for lighting control, it seemed to have a dearth of end users who were deploying it for data collection, which is where the potential business bonanza lies. Fagerhult is expected to pursue such opportunities, and to develop new generations of OR technology.
As LEDs reported in April, Fagerhult is in the process of restarting production of OR gear through contract manufacturer Flex. “All is proceeding to plan on all fronts — setup, production, marketing, and group engagement,” Wood said today.
Another problem that Organic Response faced was that competitors started to enter the market.
Meanwhile, one of Organic Response's highest-profile IoT customers, Feilo Sylvania, is expected as soon as next week to disclose new smart lighting initiatives as it adjusts to life after Organic Response. Fagerhult had arranged for interim supplies to customers such as Feilo, an arrangement that will now end — if it hasn't already — at some date that the parties did not publicly reveal.
“We have identified a number of solutions in the market which now offer the same benefits, and as a matter of fact do much more than the Organic Response solution,” said Bastiaan de Groot, Feilo's global director of strategy and new business development. “We have already started to migrate our customers to these new solutions and will publicly announce our new solutions next week.”
De Groot noted that Organic had been ahead of its time but that rivals have caught up. “Our customers are delighted that we can already offer them solutions with features that were previously more than 12 months away on our roadmap,” he said. “This is why we do not believe in making a solution proprietary. In the current market you will be out-innovated; we therefore have a strict open-innovation policy which allows us to offer our customers the best smart lighting technology in the market, regardless of whether we invented it ourselves or not.”
Feilo was one of the few vendors that was already using OR’s IoT technology for property management. It struck a deal last year with Dutch standards body NEN to install lighting that would help NEN better allocate offices, conference rooms and the like at NEN's Delft headquarters.
In addition to Feilo and GE's Current unit, other Organic Response customers have included Australian operations of Zumtobel and Thorn, as well as Holland's Koopman Interlight.
MARK HALPER is a contributing editor for LEDs Magazine, and an energy, technology, and business journalist ([email protected]).
*Updated 10:35am June 6, 2017 for announcement timing and quotes.
http://www.ledsmagazine.com/article...-keep-organic-response-iot-tech-in-house.html
DFDS' second ro-ro named
June 12 - DFDS has named its second newbuild ro-ro freight vessel from Flensburger Schiffbau-Gesellschaft (FSG) Tulipa Seaways.
heavyliftpfi.com - News Desk
Monday 12 June 2017 Share |
The sistership to Gardenia Seaways, which was delivered in February, will be delivered in autumn and will enter service connecting Rotterdam, the Netherlands and Immingham, UK.
Following the naming, the vessel was launched from the construction berth into the water to be completed alongside the quay in Flensburg, Germany.
Both ro-ro vessels measure 210 m in length and can handle 262 trailers with a load space of 4,076 m, as well as meeting current environmental requirements.
DFDS will take on both vessels under a bareboat charter contract.
According to Niels Smedegaard, ceo of DFDS, freight volumes on its North Sea routes are continuing to grow, in spite of Brexit. He adds: "The two newbuildings represent the first step in an ambitious newbuilding programme that will add considerable capacity to our North Sea network over the next few years."
http://www.heavyliftpfi.com/news/dfds-second-ro-ro-named.html
June 12 - DFDS has named its second newbuild ro-ro freight vessel from Flensburger Schiffbau-Gesellschaft (FSG) Tulipa Seaways.
heavyliftpfi.com - News Desk
Monday 12 June 2017 Share |
The sistership to Gardenia Seaways, which was delivered in February, will be delivered in autumn and will enter service connecting Rotterdam, the Netherlands and Immingham, UK.
Following the naming, the vessel was launched from the construction berth into the water to be completed alongside the quay in Flensburg, Germany.
Both ro-ro vessels measure 210 m in length and can handle 262 trailers with a load space of 4,076 m, as well as meeting current environmental requirements.
DFDS will take on both vessels under a bareboat charter contract.
According to Niels Smedegaard, ceo of DFDS, freight volumes on its North Sea routes are continuing to grow, in spite of Brexit. He adds: "The two newbuildings represent the first step in an ambitious newbuilding programme that will add considerable capacity to our North Sea network over the next few years."
http://www.heavyliftpfi.com/news/dfds-second-ro-ro-named.html
Tempo australia
Tempo Australia. ROE 24%
https://simplywall.st/news/2017/06/...s-asxtpp-24-6-roe-fares-against-the-industry/
Strong Half year result:
• Revenue of $55.2 million
• EBITDA* of $4.4 million
• NPAT of $3.7 million
• Profit before tax and NPAT margins of approx. 7.5% and 6.8%
respectively
• Cash of $ 3.7 million (excluding three substantial client
payments received post reporting date taking the cash
balance to $13.3m at the 8 July 2016)
• $10 million working capital facility in place and undrawn
• Bonding and bank guarantees facilities available worth $12
million (undrawn)
http://quotes.wsj.com/AU/XASX/TPP/financials
Tempo Australia. ROE 24%
https://simplywall.st/news/2017/06/...s-asxtpp-24-6-roe-fares-against-the-industry/
Strong Half year result:
• Revenue of $55.2 million
• EBITDA* of $4.4 million
• NPAT of $3.7 million
• Profit before tax and NPAT margins of approx. 7.5% and 6.8%
respectively
• Cash of $ 3.7 million (excluding three substantial client
payments received post reporting date taking the cash
balance to $13.3m at the 8 July 2016)
• $10 million working capital facility in place and undrawn
• Bonding and bank guarantees facilities available worth $12
million (undrawn)
http://quotes.wsj.com/AU/XASX/TPP/financials
Price target 40 euros
http://www.finanznachrichten.de/nac...-deutsche-wohnen-auf-buy-ziel-40-euro-322.htm
http://www.finanznachrichten.de/nac...-deutsche-wohnen-auf-buy-ziel-40-euro-322.htm
DFDS A/S : SHARE BUYBACK WEEK 23 2017
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06/12/2017 | 01:23pm BSTSend by mail :
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company announcement
share buyback week 23 2017
DFDS A/S has in week 23 purchased 32,411 own shares for DKK 11.9m as part of the
share buyback of DKK 300m launched on 8 February 2017 and expiring latest on
15 August 2017, ref. company announcement no. 12/2017 of 8 February 2017.
The accumulated buyback of 586,682 shares for DKK 222.1m amounts to 74.0% of the
programme.
http://www.4-traders.com/DFDS-A-S-1412874/news/DFDS-A-S-SHARE-BUYBACK-WEEK-23-2017-24580485/
0
06/12/2017 | 01:23pm BSTSend by mail :
Last Name :
Name :
From* :
To* :
(You can enter multiple email addresses separated by commas)
Message :
*Required fields
company announcement
share buyback week 23 2017
DFDS A/S has in week 23 purchased 32,411 own shares for DKK 11.9m as part of the
share buyback of DKK 300m launched on 8 February 2017 and expiring latest on
15 August 2017, ref. company announcement no. 12/2017 of 8 February 2017.
The accumulated buyback of 586,682 shares for DKK 222.1m amounts to 74.0% of the
programme.
http://www.4-traders.com/DFDS-A-S-1412874/news/DFDS-A-S-SHARE-BUYBACK-WEEK-23-2017-24580485/
Bayer places 8.5 percent of Covestro's shares and EUR 1 billion bonds exchangeable into Covestro shares
Leverkusen, June 7, 2017 - Bayer AG has reduced its direct holding in Covestro from 53.3 percent to 44.8 percent. This was achieved by selling 17.25 million of Covestro shares at a price of EUR 62.25 per share via an accelerated bookbuilding procedure. The planned deposit in Bayer Pension Trust e. V. will reduce Bayer AG's stake in Covestro by a further 4 percentage points.
In addition, Bayer AG placed bonds exchangeable into Covestro shares maturing in 2020 in an aggregate principal amount of EUR 1 billion. The bonds bear interest at a rate of 0.05 percent per annum. The issue price was fixed at 105.25 percent of the principal amount and the initial exchange price at EUR 80.93. Upon exchange of the bonds, Bayer will have the flexibility to settle the bonds in cash, by delivery of Covestro shares or by a combination thereof.
The accelerated bookbuilding and the offering of the exchangeable bonds took place Tuesday evening after market close and were addressed to institutional investors only. In the context of the placements, Bayer has agreed to a lock-up period of 90 days.
The transactions offer Bayer the opportunity to further reduce its holding in Covestro. Covestro will continue to be fully consolidated in Bayer's financial statements since Bayer should continue to hold the majority at a Covestro annual stockholders meeting after these transactions are completed. As previously announced, Bayer aims to achieve full separation from Covestro in the medium term.
Leverkusen, June 7, 2017 - Bayer AG has reduced its direct holding in Covestro from 53.3 percent to 44.8 percent. This was achieved by selling 17.25 million of Covestro shares at a price of EUR 62.25 per share via an accelerated bookbuilding procedure. The planned deposit in Bayer Pension Trust e. V. will reduce Bayer AG's stake in Covestro by a further 4 percentage points.
In addition, Bayer AG placed bonds exchangeable into Covestro shares maturing in 2020 in an aggregate principal amount of EUR 1 billion. The bonds bear interest at a rate of 0.05 percent per annum. The issue price was fixed at 105.25 percent of the principal amount and the initial exchange price at EUR 80.93. Upon exchange of the bonds, Bayer will have the flexibility to settle the bonds in cash, by delivery of Covestro shares or by a combination thereof.
The accelerated bookbuilding and the offering of the exchangeable bonds took place Tuesday evening after market close and were addressed to institutional investors only. In the context of the placements, Bayer has agreed to a lock-up period of 90 days.
The transactions offer Bayer the opportunity to further reduce its holding in Covestro. Covestro will continue to be fully consolidated in Bayer's financial statements since Bayer should continue to hold the majority at a Covestro annual stockholders meeting after these transactions are completed. As previously announced, Bayer aims to achieve full separation from Covestro in the medium term.