S&P Capital IQ 2023
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Technical analysis trends AMERICAN HOMES 4 RENT
Short Term | Mid-Term | Long Term | |
Trends | Bearish | Neutral | Bearish |
Income Statement Evolution
Sell ![]() Buy |
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Mean consensus | OUTPERFORM |
Number of Analysts | 21 |
Last Close Price | 31,32 $ |
Average target price | 34,71 $ |
Spread / Average Target | 10,8% |
Q2 Catalyst’s suite of digital solutions to help Encore Bank meet the needs of its commercial clients
Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, today announced that Encore Bank, one of the nation’s fastest-growing banks, has selected Q2 as its strategic digital partner.
Encore Bank – a commercially focused boutique bank with $3.4 billion in assets that serves customers in 20 markets across eight states – will deploy the Q2 digital banking platform, along with several Q2 Catalyst commercial solutions. Leveraging the Q2 digital banking platform’s extensive integration capabilities, Encore Bank will be able to grow its commercial lending, deposit and non-interest income business through a seamless digital experience that connects to its back-office processing systems.
“Technology has changed the game in banking, but it’s no longer enough to be a differentiator; it also needs to drive and deepen relationships,” said Encore Bank President, Chief Strategy & Growth Officer Burt Hicks. “We looked for a digital partner that was the best of the best with unmatched capabilities and competency. Q2 brings immense value and innovation to the table. Their team immediately aligned with our vision at the executive level, and we look forward to a long-term partnership.”
Encore Bank will leverage many of the digital solutions that are part of Q2 Catalyst, Q2’s suite of best-in-class commercial banking solutions, to deliver a modernized user experience to its customers. These solutions include Q2’s industry-leading digital banking platform that serves consumers, small businesses and commercial customers, Q2’s onboarding solutions for consumers and businesses and Q2’s best-in-class treasury management solutions, along with Q2 Treasury Onboarding™, Q2 Commercial Sales Enablement, Q2 ClickSWITCH, Centrix and Q2 Marketplace.
“Q2 Catalyst resonated with our team because it allowed us to solve specific challenges for our commercial customers, including the ability to onboard efficiently and the autonomy to manage day-to-day operations with ease,” said Nikki Pfleger, director of business banking solutions, Encore Bank. “We want to deliver a seamless digital experience and best-in-market treasury technology, all while providing capital to small and mid-sized businesses.”
Known for its concierge approach to banking, innovative technology and experienced bankers, Encore Bank offers a unique experience for its employees, partners and clients. Each Encore Bank location employs local people with local interests and a deep understanding of what makes each community great. They are committed to serving clients and the communities by forming deep partnerships with its customers, local nonprofits and philanthropic and community organizations.
Dallas Wells, senior vice president of Product Management, Q2 said, “Q2 is proud to partner with Encore Bank and work in lockstep with its innovative team to deliver solutions for every aspect of the commercial life cycle. Encore Bank is truly building something unique, and we are excited to partner with Encore Bank to help empower its growth trajectory and accelerate its digital roadmap.”
For more information about Q2’s best-in-class commercial banking suite, go to Q2 Catalyst.
Click here to learn more about the Q2 and Encore Bank partnership.
About Encore Bank
Headquartered in Little Rock, Arkansas, the Encore journey began in 2019 when three experienced Arkansas bank professionals moved to The Capital Bank, a small Little Rock bank established in 1997. With just seven employees, $160 million in total assets and a vision to build a different kind of bank, founders Chris Roberts, Phillip Jett and Burt Hicks rebranded that small bank to Encore Bank, and within three years, turned it into the fastest organically growing bank in the country. Today, Encore Bank has more than 300 employees, $3.4 billion in total assets (as of Jan. 15, 2022) and is operating in 20 markets across eight states. Encore Bank is a privately held, boutique bank with a commercial focus that couples highly experienced and talented bankers with innovative technology to offer unprecedented levels of service to its clients through a hospitality-inspired concierge approach. Encore Bank provides a full suite of financial products and services to businesses, business owners, professionals, their families and contacts with purpose, passion and precision. Additional information about Encore Bank can be found at www.bankencore.com.
About Q2 Holdings, Inc.
Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder – from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices throughout the world and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005234/en/
Kobe Steel, Ltd. announces today that its wholly owned subsidiary Kobelco Power Kobe No. 2, Inc., has begun commercial operation of the No. 4 unit at the Kobe Power Plant in Kobe, Japan to supply power to Kansai Electric Power Co., Inc.
Prior to the start of commercial operation, Kobelco Power Kobe No. 2 has completed all necessary legal procedures and confirmed that the performance of the No. 4 unit meets the prescribed conditions. The No.3 unit began commercial operation in February last year and has been supplying power to Kansai Electric Power. The power generation capacity of No. 3 and No. 4 units combined is 1.3 GW (650 MW x 2 units).
Under the national energy policy, Japan has been promoting the transition to higher efficiency thermal power plants to ensure a stable energy supply, economic efficiency, and environmental compliance with priority on safety. The Kobe Power Plant’s No. 3 and No. 4 units, located close to Kobe City and the surrounding Hanshin area with high demand for electricity, will contribute to the improvement of power supply efficiency with the introduction of the ultra-supercritical pressure power generation system, which is the most advanced power generation technology. In addition, it will also contribute to the development of the region through the stable supply of economically efficient electricity.
While ensuring the highest level of environmental compliance in Japan, Kobelco Power Kobe No. 2 will fulfill its role as an urban power plant operator with due consideration for the local community, as required by the Environmental Conservation Agreement concluded with Kobe City pursuant to the Kobe City’s ordinance to protect the environment of Kobe citizens. In the commissioning before the start of commercial operation, it was confirmed that the No. 4 unit satisfies the requirements as provided in the agreement.
The Kobe Steel Group, also known as the KOBELCO Group, promotes sustainability management based on the Group Corporate Philosophy. In accordance with the national energy policy, we will improve the efficiency of thermal power generation facilities and provide a stable supply of economically efficient electricity. Toward carbon neutrality in 2050, we will strive to further improve the efficiency of thermal power generation and reduce carbon emissions with the aim of realizing a world in which people, now and in the future, can fulfill their hopes and dreams while enjoying safe, secure, and prosperous lives.
Company name: | Kobelco Power Kobe No.2, Inc. |
Representative: | Soichi Kimoto |
Capital: | 300 million yen (wholly owned by Kobe Steel, Ltd.) |
Location: | 2 Nadahama Higashicho, Nada-ku, Kobe, Hyogo |
Power generation capacity: | 1,300 MW (650 MW x 2 units) |
Power generation method: | Pulverized coal-fired, ultra-supercritical (USC) pressure power generation |
Fuel: | Coal |
Start of commercial operation: |
No. 3 unit: Feb. 1, 2022 No. 4 unit: Feb. 1, 2023 |
Reference: Power plant overview
Company name | Kobelco Power Kobe, Inc. | Kobelco Power Moka, Inc. | Kobelco Power Kobe No. 2, Inc. |
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Location |
Kobe, Hyogo Prefecture (within the Kobe Wire Rod & Bar Plant) |
Moka, Tochigi Prefecture (adjacent to Moka Works) |
Kobe, Hyogo Prefecture (within the Kobe Wire Rod & Bar Plant) |
Fuel | Coal | City gas | Coal |
Power generation capacity |
1,400 MW (700 MW x 2 units) |
1,248 MW (624 MW x 2 units) |
1,300 MW (650 MW x 2 units) |
Power generation method | Pulverized coal-fired, supercritical (SC) pressure power generation | Gas turbine combined cycle (GTCC) | Pulverized coal-fired, ultra-supercritical (USC) pressure power generation |
Start of commercial operation |
No. 1 unit: Apr. 2002 No. 2 unit: Apr. 2004 |
No. 1 unit: Oct. 2019 No. 2 unit: Mar. 2020 |
No. 3 unit: Feb. 2022 No. 4 unit: Feb. 2023 |
Disclaimer
Kobelco – Kobe Steel Ltd. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 07:07:37 UTC.
Publicnow 2023
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Technical analysis trends KOBE STEEL, LTD.
Short Term | Mid-Term | Long Term | |
Trends | Bullish | Bullish | Bullish |
Income Statement Evolution
Sell ![]() Buy |
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Mean consensus | UNDERPERFORM |
Number of Analysts | 6 |
Last Close Price | 697,00 JPY |
Average target price | 657,50 JPY |
Spread / Average Target | -5,67% |
PRESS RELEASE
For Immediate Release
OUE C-REIT Announces 2H 2022 Distribution of S$56.7 million,
DPU of 1.04 cents
- The 2H 2022 net property income increased 8.6% YoY to $103.3 million mainly due to lower rental rebates
- Committed occupancy of Singapore office properties as of 31 December 2022 remained high at 95.5% with positive rental reversions of 3.2% to 8.3% in 4Q 2022
- Overall hospitality segment RevPAR for 4Q 2022 increased 18.4% QoQ to S$310, supported by the successful re-branding of Hilton Singapore Orchard, as well as the continued recovery of the tourism, business travel and MICE sectors in Singapore
- Aggregate leverage decreased 1.5 ppt QoQ to 38.8% as at 31 December 2022, with 71.5% of total debt hedged and average cost of debt remaining stable at 3.4% per annum
- No further refinancing requirements until September 2023 where only 11.8% (S$273 million) of total debt is due and none due in 2024
30 January 2023 – OUE Commercial REIT Management Pte. Ltd., in its capacity as manager (the “Manager”) of OUE Commercial Real Estate Investment Trust (“OUE C-REIT”), announced higher revenue and net property income (“NPI”) for the financial period 1 July 2022 to 31 December 2022 (“2H 2022). In 2H 2022, revenue increased 8.0% year-on-year (“YoY”) to S$125.7 million while NPI improved 8.6% YoY to S$103.3 million. The increase was largely driven by lower rental rebates, partially offset by higher property expenses.
The share of joint venture results from OUE Bayfront jumped to S$28.8 million mainly due to fair value gains. Taking into account lower income support for OUE Downtown Office and higher interest expense driven by macroeconomic factors, the 2H 2022 amount available for distribution was 19.1% lower YoY at S$52.1 million. With the partial distribution of divestment gain from OUE Bayfront of S$4.6 million, 2H 2022 amount to be distributed was S$56.7 million, translating to a distribution per unit (“DPU”) of 1.04 cents.
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For the financial year ended 31 December 2022 (“FY 2022”), amount to be distributed was S$116.2 million with DPU of 2.12 cents. Based on OUE C-REIT’s unit closing price of S$0.335 as at the last trading day of 2022, FY 2022 distribution yield is 6.3%.
OUE C-REIT pays out its distribution on a semi-annual basis. With the books closure date on Tuesday, 7 February 2023, Unitholders can expect to receive the payment of 2H 2022 distribution on Tuesday, 28 February 2023.
Summary of OUE C-REIT’s Group Financial Performance
(S$’000) |
2H 2022 |
2H 2021 |
Change |
FY 2022 |
FY 2021 |
Change |
(%) |
(%) |
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Revenue |
125,670 |
116,338 |
8.0 |
241,507 |
249,884 |
(3.4) |
Net Property |
103,311 |
95,160 |
8.6 |
196,915 |
204,205 |
(3.6) |
Income |
||||||
Share of Joint |
28,811 |
9,170 |
NM |
37,108 |
13,236 |
NM |
Venture Results |
||||||
Amount Available |
52,084 |
64,420 |
(19.1) |
111,626 |
131,632 |
(15.2) |
for Distribution(1) |
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Amount to be |
56,684(2) |
74,820(3) |
(24.2) |
116,226(2) |
142,032(3) |
(18.2) |
Distributed |
||||||
DPU (cents) |
1.04 |
1.37 |
(24.1) |
2.12 |
2.60 |
(18.5) |
Notes:
NM: Not meaningful
- Net of working capital requirements in relation to the hospitality segment
- Including S$4.6 million capital distribution from divestment of OUE Bayfront in March 2021
- Including release of S$5.0 million of distribution retained in FY 2020 and S$5.4 million capital distribution from divestment of OUE Bayfront in March 2021
As at 31 December 2022, the valuation of OUE C-REIT’s properties increased 2.6% YoY to S$6.2 billion. The increase was driven by higher valuation for the Singapore portfolio which offset the decrease at Lippo Plaza mainly due to the depreciation of the Chinese Renminbi against the Singapore Dollar. Consequently, net asset value per Unit increased to S$0.59 as of 31 December 2022.
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Mr Han Khim Siew, Chief Executive Officer of the Manager, said, “2H 2022 was characterised by continued operating challenges posed by geopolitical tensions, inflationary pressures, interest rate hikes and macroeconomic headwinds. Against this backdrop, OUE C-REIT remained diligent and focused on strengthening our capital structure and improving our asset performance. Taking a proactive approach to mitigate the higher interest rate environment, we forged ahead to obtain an unsecured sustainability-linked loan (“SLL”) totaling S$978 million for the refinancing of existing secured borrowings – the largest SLL among S-REITs in Singapore. This has structurally strengthened the foundation of our capital structure and allowed us to diversify OUE C-REIT’s funding sources with the proportion of our unsecured debt increasing significantly to 69.4%.”
“Meanwhile, we continued to strengthen our portfolio fundamentals and leveraged on the Hilton Singapore Orchard (“HSO”) re-branding to drive growth in sustainable value to Unitholders. On 1 January 2023, we reopened the 446-room Orchard Wing at HSO, marking the successful completion of the final phase of the asset enhancement initiative (“AEI”) which was announced in March 2020. Despite limited inventory available for bookings in 2022, HSO exceeded the minimum rent of S$45.0 million in FY 2022. While we will surely face macroeconomic headwinds in the year ahead, we remain confident in our ability to navigate market uncertainties and deliver positive results for FY 2023 with the support of our stakeholders,” added Mr Han.
Commercial Segment
For 2H 2022, the commercial (office and retail) segment recorded higher revenue and net property income of S$91.1 million (10.2% YoY) and S$71.4 million (14.3% YoY), respectively, due to lower rental rebates and property expenses.
Singapore office properties, as the pillar of OUE C-REIT’s overall portfolio, continued to benefit from the “flight-to-quality” trend and limited supply, with the committed occupancy remaining high at 95.5% as at 31 December 2022 on the back of the Manager’s proactive leasing strategy. Positive rental reversions ranging from 3.2% to 8.3% were recorded across all Singapore office properties in 4Q 2022 with average passing rents remaining stable as of end December. OUE Bayfront’s average passing rent continued its upward climb to S$12.64 per square foot (“psf”) per month due to positive rental reversions in previous quarters.
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Benefitting from the return of international travellers and the improving consumer sentiment in Singapore, the Manager focused on optimising rents while improving occupancy. Mandarin Gallery’s rental reversion was 10.4% with committed occupancy (excluding short-term leases) as of 31 December 2022 increasing 2.7 percentage points (“ppt”) QoQ to 91.9%. Including short-term leases, the committed occupancy increased 2.0 ppt QoQ to 95.4%. For 4Q 2022, shopper traffic further normalised to approximately 95% of pre-COVID levels. While tenant sales remained at approximately 85% of pre-COVID levels for the quarter, it was 41.3% higher YoY.
Against the backdrop of the COVID-19 response measures that affected the business operating environment and leasing sentiment in Shanghai, Lippo Plaza’s committed office occupancy further declined 5.7 ppt to 79.9% as of 31 December 2022. In view of strong leasing competition amongst landlords due to significant new supply and the uncertain economic outlook, the Manager’s key priority will be on sustaining occupancy at Lippo Plaza as China relaxes its COVID-19 measures. Lippo Plaza in Shanghai accounted for 10.5% of FY 2022 revenue based on OUE C-REIT’s proportionate interest in the respective properties.
Hospitality Segment – Well-positioned to capture further recovery
Hospitality segment revenue and net property income for 2H 2022 was S$34.6 million and S$31.9 million. Benefitting from the successful re-branding and AEI, HSO’s revenue surpassed its minimum rent under the master lease arrangement despite the limited inventory.
With the return of tourism and recovery of the meetings, incentives, conventions and exhibitions (“MICE”) sector on the back of Singapore’s border reopening, the overall hospitality segment revenue per available room (“RevPAR”) for 4Q 2022 was 18.4% higher QoQ at S$310. In particular, HSO’s RevPAR in 4Q 2022 increased 19.5% QoQ to S$397. Crowne Plaza Changi Airport also recorded a 15.9% QoQ increase to S$211 in 4Q 2022.
Proactive Prudent Capital Management
As at 31 December 2022, OUE C-REIT’s total debt decreased to S$2,321 million compared to the previous quarter. The aggregate leverage declined 1.5 ppt QoQ to 38.8% with the weighted average cost of debt remaining stable at 3.4% per annum. Approximately 71.5% of total debt is on a fixed
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rate basis. The debt maturity profile is also well-spread out with an average term to maturity of 2.9 years.
The Manager has elected to receive 50% of its management fees in cash with the balance in Units of OUE C-REIT for 4Q 2022.
Outlook
According to CBRE, the Singapore office market saw positive net absorption of 0.59 million square feet (“sq ft”) in 4Q 2022 with demand driven by legal firms, fast-moving consumer goods sector and non-banking financial companies. This brings 2022’s total net absorption to 1.15 million sq ft which was 3.6 times the net demand in 2021. Consequently, the islandwide vacancy of office space declined to 5.0% as at end 2022 from 6.3% as at end 2021. Core Central Business District (“CBD”) Grade A office vacancy decreased to 4.2% in 4Q 2022 from 4.5% a year ago while rents climbed for the seventh consecutive quarter to S$11.70 per square feet (“psf”) per month. However, the QoQ rental growth has slowed to 0.9% in 4Q 2022 from 2.7% in the previous quarter. With weaker economic growth expected in 2023 and slowing demand from large occupiers, especially the tech sector, CBRE trimmed its rental forecast. Core CBD Grade A office rents are expected to increase by about 1.0% YoY from the previous YoY forecast of 4.0% to 5.0%. OUE C-REIT’s portfolio of core Grade A offices and well-diversified tenant base is expected to underpin a stable performance in 2023.
International visitor arrivals reached 6.3 million in 2022, exceeding the Singapore Tourism Board’s (“STB”) forecast of between four to six million. The continued recovery in the MICE sector and China’s recent relaxation of COVID-19 restrictions are expected to provide a further boost to international arrivals in 2023 with the STB expecting 12 to 14 million on the back of increasing flight connectivity and capacity. Tourism activity is expected to recover to pre-pandemic levels by 2024. While the pace of recovery may be impacted by labour and cost challenges, as well as the murky economic outlook and business uncertainties, OUE C-REIT’s hotel properties are well-positioned to capitalise on the ongoing recovery in the hospitality sector.
Retail leasing activity continued to pick up in 4Q 2022 according to CBRE, with the demand mainly driven by food & beverage (“F&B”) operators as they sought to capitalise on the recovery in tourism
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Disclaimer
OUE Commercial Reit published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 01:26:02 UTC.
Publicnow 2023
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Technical analysis trends OUE COMMERCIAL REAL ESTATE INVESTMENT TRUST
Short Term | Mid-Term | Long Term | |
Trends | Bullish | Neutral | Neutral |
Income Statement Evolution
Sell ![]() Buy |
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Mean consensus | HOLD |
Number of Analysts | 2 |
Last Close Price | 0,37 SGD |
Average target price | 0,36 SGD |
Spread / Average Target | -4,05% |
SOMERSET, N.J. – January 26, 2023 – Catalent, the leader in enabling the development and supply of better treatments for patients worldwide, today announced the opening of a new commercial-scale plasmid DNA (pDNA) manufacturing facility at its European center of excellence for cell therapies, in Gosselies, Belgium.
The state-of-the-art facility contains over 12,000 square feet (1,100 square meters) of development and manufacturing space across multiple cleanrooms for the dedicated production of CGMP-grade pDNA for clinical and commercial-phase supply. It has been designed to be EMA and FDA compliant to support customers with requirements for high-yielding processes at 50 and 300-liter fermentation scale. This will enable a wide range of batch sizes from milligram to multi gram scale.
At the new facility, Catalent will also produce a new range of ‘off-the-shelf’ plasmids to support cell and gene companies. These include adeno-associated virus (AAV) pHelper, which is available now, and Rep/Cap AAV2 and AAV5 plasmids, which will be available later this quarter. Rep/Cap AAV serotypes 1, 3, 6 and 10 will be available later this year.
This commercial-scale pDNA facility is the latest addition to Catalent’s Gosselies campus, which provides comprehensive services for all stages of cell and gene therapy development, including process and analytical development laboratories, technical transfer services, CGMP cleanrooms for manufacturing, dedicated quality control laboratories, Qualified Person (QP), as well as warehousing and logistics support.
“Catalent enables fully integrated viral vector and mRNA services-from our pDNA expertise in Gosselies, to clinical and commercial production of viral vectors for gene therapy, cell therapy, and mRNA in our network-providing critical supply chain continuity and a single CDMO partner from lead identification to commercial manufacturing,” said Manja Boerman, Ph.D., Catalent’s President, BioModalities (Cell, Gene and Protein Therapies). “Plasmid DNA is a critical component to many biological therapeutics, and Catalent has made this investment in additional manufacturing capacity in anticipation of supporting the growing number of programs through development towards commercialization.”
In December 2022, Catalent opened one of the world’s largest cell therapy commercial manufacturing facilities, also located on the Gosselies campus. The facility houses 60,000 square feet (5,600 square meters) of dedicated cell therapy manufacturing space housing multi-product, segregated suites designed to support autologous and allogeneic cell therapy manufacturing.
NOTES FOR EDITORS
ABOUT CATALENT CELL AND GENE THERAPY
Catalent Cell & Gene Therapy is an industry-leading technology, development, and manufacturing partner for advanced therapeutics. Its comprehensive cell therapy portfolio includes a wide range of expertise across a variety of cell types including CAR-T, TCR, TILs, NKs, iPSCs, and MSCs. With deep expertise in viral vector development, scale-up and manufacturing for gene therapies and viral vaccines, Catalent is a full-service partner for plasmid DNA, adeno-associated viral (AAV), lentiviral and other viral vectors, and oncolytic viruses. As an experienced and innovative partner, it has a global network of dedicated, development, clinical, and commercial manufacturing facilities, including an EMA- and FDA-licensed viral vector facility, and fill/finish capabilities located in the U.S. and Europe. With integrated solutions for plasmid DNA, viral vectors, and autologous and allogeneic cell therapies through clinical trial packaging and logistics, Catalent can provide full supply chain control, helping innovators get their advanced therapies to patients, faster.
ABOUT CATALENT
Catalent is the global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs.
Catalent helps accelerate over 1,000 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply around 80 billion doses of nearly 8,000 products annually. Catalent’s expert workforce of approximately 18,000 includes more than 3,000 scientists and technicians.
Headquartered in Somerset, New Jersey, the company generated nearly $5 billion in revenue in its 2022 fiscal year. For more information, www.catalent.com.
More products. Better treatments. Reliably supplied.™
Disclaimer
Catalent Inc. published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 14:12:09 UTC.
Publicnow 2023
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Technical analysis trends CATALENT, INC.
Short Term | Mid-Term | Long Term | |
Trends | Bullish | Bearish | Bearish |
Income Statement Evolution
Sell ![]() Buy |
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Mean consensus | OUTPERFORM |
Number of Analysts | 14 |
Last Close Price | 50,16 $ |
Average target price | 74,09 $ |
Spread / Average Target | 47,7% |
Highlights & business update of the 2nd half of 2022
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Progress on green and renewable hydrogen production projects
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Industrial and technological agreements to secure access to strategic equipment
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Structuring of the company with a workforce of 150 employees by the end of 2022
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Continuation of offshore developments
Commercial pipeline at the end of 2022: 9.8 GW of total installed production capacity
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Targeted total installed capacity of 55 MW in 2024 and 200 MW in 2026
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Targeted consolidated revenues of €200m and Group EBITDA[1] at breakeven in 2026
Nantes (France) – January 25, 2023 – 8:00 pm – Lhyfe (Euronext Paris – FR0014009YQ1 – LHYFE), one of the world’s pioneers in the production of green and renewable hydrogen to decarbonize industry and mobility, presents the highlights of the 2nd half of the year 2022 and gives an update on its development and on the advancement of the company’s projects at the end of the year.
Progress of projects
Lhyfe Pays de la Loire (Bouin, France)
The Bouin production unit, the first industrial site in the world directly connected to a wind farm, celebrated the delivery of its 100th container of hydrogen at the end of 2022.
The increase in production capacity was initiated in 2022 (authorization and equipment orders). The current production capacity of 750 kW will be increased to 2.5 MW (approx. 1 t./day) in early 2024 to meet increased customer demand in the region. Its storage capacity, currently around 700 kg, will also be increased to almost 5 tonnes.
Lhyfe Bretagne (Morbihan, France)
In the second half of 2022, Lhyfe obtained the building permit for a unit with a total capacity of 5 MW (i.e. approximately 2 t/day of green hydrogen) located in Morbihan in Bretagne. This unit, supported by the ADEME (French Environment and Energy Management Agency) to the tune of €2.8 million and expected to be operational in the second half of 2023, will be the company’s second hydrogen production site.
As a reminder, the consortium made up of the companies HyGO, GNVert and Lhyfe has been appointed by the Lorient agglomeration as the successful bidder for a Global Performance Contract for the design, construction, operation and maintenance of two renewable hydrogen refueling stations. Lhyfe will supply the renewable hydrogen for a period of 10 years.
Lhyfe Occitanie (Bessières, France)
In Occitanie (France), Lhyfe has also obtained the permit for the construction of the 5 MW production unit in Bessières (Haute-Garonne), which is scheduled to be commissioned at the end of 2023.
This project is the winner of the Corridor H2 tender for projects, supported by the Occitanie region, whose objective is to decarbonize the transport of goods and passengers on a North/South axis running from the Mediterranean to the North Sea, through the development of green hydrogen uses.
Lhyfe Bade-Würtemberg (Schwäbisch Gmünd, Germany)
In Schwäbisch Gmünd, Germany, Lhyfe has submitted the permit for the construction of a plant with a production capacity of 10 MW (about 3 t/day). The plant is expected to be commissioned in the first half of 2024. It will be accompanied by a hydrogen distribution station accessible to the general public, built and operated by a Lhyfe partner, and a pipeline to supply the future “H2-Aspen” technology park with green hydrogen.
This project is part of the HyFIVE (Hydrogen For Innovative Vehicles) project which has received €33 million in funding from the European Regional Development Fund (ERDF).
Lhyfe Groningen (Delfzijl, The Netherlands)
In the Netherlands, Lhyfe aims to build a large-scale renewable green hydrogen production plant in the Delfzijl chemical cluster in the northern province of Groningen. This plant could reach a production capacity of 200 MW (about 55 t/day).
Lhyfe has already secured the land and the electrical connection of the plant. The realization of the project is subject to obtaining the required operating licenses and building permits, as well as the financial investment decision. It is expected to be commissioned in 2026 at the earliest.
Signing of industrial and technological agreements for the supply of key equipment’s
Through these agreements, Lhyfe has secured its access to strategic equipment (electrolysers, compressors, distribution systems) for the construction of its production units, the production of green and renewable hydrogen and its logistical distribution throughout Europe.
Agreement with Hexagon Purus for the delivery of hydrogen distribution systems
Lhyfe and Hexagon Purus, a leading supplier of hydrogen systems, have entered into an agreement for the supply of hydrogen distribution systems with Hexagon Purus Type 4 composite high-pressure cylinders. Lhyfe will be able to deliver up to 19 tonnes of green hydrogen per trip, equivalent to the consumption of 650 buses.
Agreement with Hiperbaric for the supply of high-pressure compressors
Lhyfe and Hiperbaric, a Spanish group and world leader in high pressure technologies, have signed an agreement to supply high pressure compressors for the storage and transportation of green and renewable hydrogen.
The Hiperbaric hydrogen compression technology approaches an isothermal compression process, resulting in high reliability and low energy consumption. The Hiperbaric range of compressors is capable of compressing hydrogen from an input pressure of 20 bar up to 200-950 bar for storage tank filling.
Order of Plug electrolysers for a total capacity of 50 MW
Lhyfe has signed a purchase agreement for ten Plug electrolyser systems of 5 MW each with the American Plug Group, a major player in green hydrogen. These electrolysers, with a total capacity of 50 MW (up to 20 tonnes per day), are intended to enable Lhyfe to produce green hydrogen for mobility in several onshore plants across Europe, with delivery of the equipment from 2023.
The order follows on from a partnership with Plug to jointly develop green hydrogen production plants across Europe. The aim of the collaboration is to co-develop by 2025 a total hydrogen production capacity of 300 MW (up to 120 tonnes of green hydrogen per day) across Europe, which will mainly serve on- and off-road mobility applications.
Structuring & development of the company
Success of the 2022 recruitment plan
Lhyfe is pleased to announce the remarkable success of its 2022 recruitment campaign, a year marked by the arrival of more than a hundred new employees to support the increase in the number of projects and the internationalization of the company, with now 6 subsidiaries across Europe and a presence in 11 countries.
At the end of 2022, Lhyfe’s workforce will be 150 employees (vs. 57 at the end of 2021), of which 40% will be dedicated to engineering, in order to pursue the development of solutions and the deployment of production sites, and 40% to business development in all the geographical regions targeted by the company. By the end of 2022, 20% of Lhyfe’s workforce was internationally based.
In order to support its development, Lhyfe has continued to structure itself on a human level with the creation of key positions.
Philippe Desorme joined Lhyfe in 2022 as Vice President Sales & Business Development, to enhance Lhyfe’s business development capabilities alongside Taia Kronborg, Chief Business Officer. Prior to joining Lhyfe, Philippe Desorme spent most of his career since 1998 in the industrial gases sector at Linde Group where he held several position as Head of Market Segment & Application for the Southern Europe region and Sales Director in Africa and France.
In order to strengthen its health, safety and environment policy, Lhyfe has also recruited Clément Falk as HSE (Health, Safety and Environment) Director. An expert in process safety engineering and chemical technologies, Clément Falk has over 16 years of international experience in the chemical, oil and gas (onshore & offshore) and new energies (offshore wind farms) industries.
For international development, Colin Brown and Frans-Pieter Lindeboom have been appointed Country Manager UK & Ireland and Country Manager Spain respectively, following the incorporation of these two new subsidiaries in 2022. Colin Brown has held various Development positions in groups in the sector renewable energies (Aker, Vattenfall, SSE Renewables, etc.). Frans-Pieter Lindeboom has 20 years of experience in the energy sector, including nearly 15 years in the Spanish group Repsol, in charge of supply chain management for the group’s offshore platforms.
Finally, Nathalie Guillot joined Lhyfe in early 2023 as Human Resources Director. Prior to joining Lhyfe, Nathalie Guillot was Deputy Human Resources Director, in charge of France, for the Antargaz group.
Continued progress in offshore green hydrogen production
Inauguration of the world’s first offshore green hydrogen production pilot site
In September 2022, Lhyfe inaugurated its offshore green hydrogen production demonstrator, the world’s first offshore hydrogen production pilot plant, on the SEM-REV, Europe’s first multi-technology offshore test site off the coast of Le Croisic. The Sealhyfe platform has a capacity of 1 MW, which means it can produce about 400 kg of green hydrogen per day.
At the end of the 6-month test phase for all the equipment (desalination systems, cooling, stack behavior, remote control, energy management, resistance to environmental conditions, etc.) the Sealhyfe platform, docked in the port of Saint-Nazaire, will leave for a 12-month period off the Atlantic coast, less than 1 km from the floating wind turbine.
Collaboration with Nantes Saint-Nazaire Port to develop offshore green hydrogen
Lhyfe and Nantes Saint-Nazaire Port, France’s fourth largest seaport, have signed a partnership agreement to develop the renewable hydrogen sector at sea and thus accelerate the energy transition in the Loire estuary.
This collaboration should make it possible to identify port spaces and facilities likely to host prototypes and to test innovative solutions. The partnership also covers the identification of industrial needs related to the construction of equipment for the mass production of hydrogen at sea and the port infrastructures necessary for the production, launching and integration of this future equipment. Finally, the two parties are combining their thinking on the issue of repatriating the hydrogen produced massively at sea to land in order to define the industrial and logistical requirements for receiving and injecting the gas into the land network.
Offshore project of 10 MW in Belgium
The HOPE (Hydrogen Offshore Production for Europe) project, led by a consortium coordinated by Lhyfe, has received a positive evaluation under the 2022-TC01-10 call for projects of the Clean Hydrogen Partnership, co-funded by the European Union. As a result, the project partners started the preparation phase of the subsidy agreement, which will end no later than May 2023.
The project consists of designing, building and operating by 2025 the first 10 MW renewable hydrogen production unit in the North Sea off the coast of Belgium. The purpose is to prove the technical and financial viability of producing renewable hydrogen offshore and transporting it by pipeline to serve onshore customers. The project will produce a wide range of exploitable results, as well as pre-feasibility studies and techno-economic assessments of large-scale offshore concepts.
Commercial pipeline at the end of 2022: 9.8 GW of production capacity
Supported by the RepowerEU European Energy Independence Plan, Lhyfe’s commercial portfolio continued to strengthen in the 2nd half of 2022.
At the end of 2022, Lhyfe’s commercial pipeline[2] represented a total installed production capacity of 9.8 GW (unchanged from mid-September 2022).
Within this commercial portfolio, projects at an advanced stage of development[3] represented a total installed generation capacity of 759 MW at the end of the year (vs. 629 MW mid-September 2022).
With this strong commercial pipeline, Lhyfe confirms the objectives set at the time of its IPO to make the company one of the leaders in green hydrogen production in Europe[4].
Lhyfe aims to have a total installed capacity of 55 MW by 2024.
By 2026, Lhyfe aims to have a total installed capacity of 200 MW, as well as:
- around €200m in consolidated revenue;
- Group EBITDA[5] at breakeven.
By 2030, the company plans to become a green hydrogen production reference player and more specifically to have over 3 GW in total installed capacity.
Long term, Lhyfe is targeting a Group EBITDA margin above 30%[6].
Financial calendar
Date | Release |
Wednesday 22 March 2023 | FY 2022 results (audited) |
Tuesday 23 May 2023 | General Meeting |
Wednesday 20 September 2023 | H1 2023 results (audited) |
About Lhyfe
Lhyfe is a European group dedicated to the energy transition, and a producer and supplier of green and renewable hydrogen. Its production sites and portfolio of projects aim to provide access to green and renewable hydrogen in industrial quantities, and to enter into a virtuous energy model allowing the decarbonization of entire sectors of industry and mobility.
In 2021, Lhyfe inaugurated the world’s first industrial green hydrogen production site in direct connection with a wind farm. In 2022, Lhyfe inaugurated the world’s first pilot platform for green hydrogen production at sea.
Lhyfe is present in 11 European countries and has 150 employees at the end of 2022. The company is listed on the Euronext market in Paris (ISIN: FR0014009YQ1 – mnemonic: LHYFE).
For more information go to Lhyfe.com
Contacts
[1] Group EBITDA: current consolidated operating profit before depreciation, amortisation and provisions
[2] The commercial pipeline does not include offshore projects
[3] Projects in “Tender ready”, “Awarded, or “Construction” phases. The definitions of these phases are detailed in Section 10.1 of the Registration Document approved by the AMF on 21 April 2022 and available on Lhyfe’s website
[4] Based on the assumptions detailed in Section 10.1 of the Registration Document approved by the AMF on 21 April 2022 and available on Lhyfe’s website
[5] Group EBITDA: current consolidated operating profit before depreciation, amortisation and provisions
[6] Group EBITDA margin: ratio of “EBITDA to revenue”
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Five Star Bank Expands its Commercial Lending Franchise in Central New York with New Syracuse Office
Located at
Five Star Bank’s
Larry Alampi has over 20 years of banking experience and serves as Commercial and Industrial Banker, assisting companies with their depository and borrowing needs. He previously worked at HSBC, First Niagara andKeyBank , and most recently served as Business Development Manager forCH Insurance . A graduate ofLe Moyne College , he is also a loan committee member of theGreater Syracuse Business Development Corp. Thomas Breed , who has more than 30 years of local banking experience, serves as Commercial and Industrial Banker, assisting companies with all of their depository and borrowing needs. He previously worked forKeyBank , First Niagara,Citizens Bank andJP Morgan Chase Bank and is a graduate ofSyracuse University .Andrew March serves as Commercial Real Estate Banker. The 34-year banking veteran joined Five Star from Solvay Bank and spent the majority of his career in theCentral New York banking space at institutions includingBerkshire Bank , M&T Bank,KeyBank ,Community Bank and more. He is a graduate ofClarkson University .Sara Smith serves as a Senior Portfolio Manager for the team, handling the service needs of commercial clients throughoutCentral New York and beyond. Smith, who previously worked at First Niagara andKeyBank , is a graduate ofSUNY Oswego and the class of 2016 of Leadership Greater Syracuse.
“As part of Five Star Bank’s continued growth and evolution, we’ve expanded beyond our historic rural Upstate New York footprint to serve metros like
Chief Commercial Banking Officer
The
About
For additional information contact:
(585) 584-1549
pakennard@five-starbank.com
media@five-starbank.com
W. Jack Plants II
Chief Financial Officer and Treasurer
(585) 498-2919
wjplants@five-starbank.com



Source:
2023 GlobeNewswire, Inc., source
SCBX ANNOUNCED 2022 NET PROFIT OF BAHT 37.5 BILLION
Bangkok: SCB X Public Company Limited (SCBX) reported consolidated net profit of Baht 37.5 billion in 2022, a 5.5% increase yoy, mainly due to strong net interest income growth, cost management discipline, and lower provisions. Nevertheless, it was offset by a decline in the fee and investment-related income.
For 2022, net interest income rose 13.3% yoy to Baht 107.9 billion, following an increase in net interest margin under the growth strategy towards quality loans and upward interest rate trend. Meanwhile, overall loans expanded 3.3% from the previous year.
Fee and other income stood at Baht 44.9 billion, down 4.7% yoy due to the slowdown in wealth management business. Investment and trading income also dropped 79.1% yoy to Baht 1.7 billion due to extreme volatility in the money and capital markets.
Operating expenses increased 9.9% yoy to Baht 69.9 billion, mainly on the back
of increasing business activities and restructuring efforts under the ‘Mothership’ strategy. However, the cost-to-income ratio remained at an appropriate level of 45.2%, a slight increase from the previous year.
The Company set aside provisions of Baht 33.8 billion for 2022, down 19.5% yoy, thanks to proactive measures and prudent approach to credit quality management implemented since the onset of the COVID-19 pandemic as well as the recovery in business sectors. The non-performing loan (NPL) coverage ratio increased to 159.7%.
The NPL ratio eased to 3.34% at the end of 2022, from 3.79% at the end of 2021, largely due to a comprehensive debt restructuring program under the Bank of Thailand’s framework and effective NPL management. The capital adequacy ratio also remained strong at 18.9%.
Arthid Nanthawithaya, Chief Executive Officer of SCBX, commented:
“In 2022, SCBX completed the restructuring efforts under the ‘Mothership’ strategy and we’re ready to move towards our goal to become a technology company with steady growth. In the next 1-2 years, we will emphasize leapfrogging of digital-lending businesses, following preparations of talents and business strategies. For SCB Bank, we will continue to proceed with the ‘Be a Better Bank’ strategy, to achieve quality growth at a lower cost base. Our technology and digital asset businesses will adopt a prudent investment approach, taking into consideration market conditions. Regarding financial performance in 2022, SCBX continued its growth momentum and maintained financial stability by adopting appropriate risk management under extreme volatility in the capital market. Looking forward, we believe SCBX and its portfolio companies can enjoy significant growth potential thanks to the ‘Mothership’ strategy and overall business recovery.”