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PR Newswire

Ericsson Capital Markets Day 2020

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STOCKHOLM, Nov. 10, 2020 —

  • Turn-around completed establishing a strong platform to accelerate growth and investments in 5G enterprise applications
  • New long-term EBITA margin target, excluding restructuring, for the Group of 15% – 18%
  • New long-term Free Cash flow (before M&A) target of 9% – 12% of sales
  • The 2022 operating margin target, excluding restructuring, of 12 – 14% remains for the Group with some adjustments between segments

Ericsson (NASDAQ: ERIC) will outline revised strategic growth ambitions and new long-term financial targets at its Capital Markets Day 2020 on November 10, 2020.

Executives from across the business will join President and CEO, Börje Ekholm, to share insights from the company’s three-year focused turnaround, and articulate ambitions to strengthen the Group, with a particular emphasis on long-term growth in the enterprise market. 

Since the launch of the focused business strategy in 2017, the company has restored profitability, delivered organic growth and is on track towards its 2020 financial targets. With global technology leadership and growing market share in 5G the company is now turning to the next phase of its journey – growing the business through incremental core business growth and acceleration of enterprise focus.

Börje Ekholm, President and CEO, says: "The execution on our focused strategy has delivered a turnaround which creates a robust base for the future and delivered global leadership in 5G today. The Covid-19 pandemic is a humbling reminder that wireless connectivity fundamentally underpins future global growth and so urgent deployment is critical. It will support a global innovation opportunity for consumers and enterprise which touches every corner of our world and every sector of the economy. Our future value is inextricably linked to wider economic growth and we are well-positioned to play a lead role in the ecosystem of operators, businesses, and decision-makers on whose combined shoulders 5G’s full success rests."

Long-term targets

Beyond 2022, the long-term profitability target is an EBITA margin excluding restructuring charges of 15% – 18% for the Group. The company aims to achieve this through improvement activities across the Group. Growth as well as gross margin improvements, driven by software sales and operational leverage, will be the cornerstones in reaching the long-term targets.

The company will continue its focus on free cash flow (before M&A) with a target of 9% – 12% of sales.

2022 profitability targets

The 2022 profitability target for the Group remains unchanged with an operating margin of 12% – 14%, excluding restructuring charges. Each segment target for 2022 is updated with operating margin targets per segment detailed in the table below.

The increased target in segment Networks is mainly driven by our foot-print gains in the market. The 2022 operating margin target for Networks is raised to 16% – 18% (15% – 17%).

In segment Digital Services, the priority continues to be restoring profitability. Due to the increase in R&D spend in combination with the decline in legacy sales the Operating Margin target is adjusted to 4% – 7% (10% – 12%) in 2022.

In segment Managed Services, expected margin growth will be achieved through R&D investments in Artificial Intelligence and automation. The 2022 target for Managed Services is raised to 9% – 11% (8% – 10%).

In segment Emerging Business and Other focus continues to be on establishing new businesses which drive organic growth. Revenue growth will be targeted through the rapid and disciplined product deployment in 5G and IoT as well as the recent acquisition of Cradlepoint.

Financial targets 2022 and long-term

Investor Update 2019 numbers in brackets.

% of sales

Networks

Digital Services

Managed Services

Emerging Business and Other

Group

2022 EBIT excluding restructuring

16% – 18%

 (15% – 17%)

4% – 7%

(10% – 12%)

9% – 11%

(8% – 10%)

–

12%-14%

(no change)

Long-term target EBITA excluding restructuring

15% – 18%

Long-term Free Cash Flow (before M&A)

9% – 12%

Addition to Risk Factors (as published in Annual and Quarterly Reports)

Ongoing geopolitical and trade uncertainty from a range of factors may have a material adverse impact on Ericsson’s business, operations, business prospects and consequently on operating results, financial conditions and our ability to meet its targets.  These uncertainties, include the effects from ongoing trade disputes – notably between the US and China, and the uncertainty on how the change in US administration following the result of the 2020 Presidential Election may impact that trade dispute; and uncertainties for the future bilateral trading relationship between Sweden and China as a result of the decision of the Swedish Post and Telecom Authority to exclude Chinese vendors from participation in 5G.

Speakers and details of the event

Börje Ekholm, President and CEO, and Carl Mellander, CFO, will be joined by members of the company’s Executive Team. The speakers include Erik Ekudden, CTO, Fredrik Jejdling, Head of Business Area Networks, Jan Karlsson, Head of Business Area Digital Services, Peter Laurin, Head of Business Area Managed Services, Åsa Tamsons, Head of Business Area Technologies and New Businesses, Niklas Heuveldop, Head of Market Area North America, and Chris Houghton, Head of Market Area North East Asia.

Ericsson’s Capital Markets Day event can be accessed via the Ericsson website:

https://www.ericsson.com/en/investors/events-and-presentations/CMD2020  

Presentation materials can also be downloaded from the website once the webcast has started.

NOTES TO EDITORS:

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FOR FURTHER INFORMATION, PLEASE CONTACT

Contact person
Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@ericsson.com

Additional contact
Stella Medlicott, Senior Vice President, Marketing and Corporate Relations
Phone: +46 730 95 65 39
E-mail: media.relations@ericsson.com

Investors
Stefan Jelvin, Director, Investor Relations
Phone: +46 709 86 02 27
E-mail: stefan.jelvin@ericsson.com

Lena Häggblom, Director, Investor Relations
Phone:  +46 72 593 27 78
E-mail:  lena.haggblom@ericsson.com

Media
Peter Olofsson, Head of Corporate Communications
Phone: +46 702 67 34 45
E-mail: media.relations@ericsson.com

Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

About Ericsson

Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

Forward-looking statements

This release includes forward-looking statements, including statements reflecting management’s current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including, in particular the following:

  • Our goals, strategies, planning assumptions and operational or financial performance expectations
  • Industry trends, future characteristics and development of the markets in which we operate
  • Our future liquidity, capital resources, capital expenditures, cost savings and profitability
  • The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures
  • The ability to deliver on future plans and to realize potential for future growth
  • The expected operational or financial performance of strategic cooperation activities and joint ventures
  • The time until acquired entities and businesses will be integrated and accretive to income
  • Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.

The words "believe," "expect," "foresee," "anticipate," "assume," "intend," "likely," "projects," "may," "could," "plan," "estimate," "forecast," "will," "should," "would," "predict," "aim," "ambition," "seek," "potential," "target," "might," "continue," or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.

We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.

Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section "Risk Factors" in the latest interim report, and in "Risk Factors" in the Annual Report 2019.

These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 10:00 pm CET on November 9, 2020.

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Ericsson Capital Markets Day 2020

 

PR Newswire

Wealth Dynamix Completes Eighth Year of Growth and Continues Expansion Despite Global Pandemic Challenges

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LONDON, Nov. 4, 2020 — Wealth Dynamix, a global leader in Client Lifecycle Management (CLM) solutions, has announced year-end performance results that indicate strong growth during the twelve months to September 30, 2020. Wealth Dynamix has worked with new and existing wealth management clients to deliver the critical capabilities required to support remote working and business continuity. Most notably, clients are benefiting from a true 360-degree client view, actionable and intelligent automation and best practice workflows that eliminate manual tasks and boost productivity, and mobile-ready client and advisor-facing tools that increase usability and access.

Since October 2019, Wealth Dynamix has expanded European operations, opened a new office in Paris to further support private banks, wealth and investment management firms in France and Switzerland, and acquired a number of significant global clients including a major global bank headquartered in Singapore and large European private bank headquartered in France.

In the UK several of the leading wealth managers and private banks including Charles Stanley, Ruffer, Quilter and Rothschild & Co completed major projects to upgrade to the latest version of the Wealth Dynamix CLM solution.

Many Wealth Dynamix clients accelerated digitisation projects throughout the second half of the year, spurred by the requirement to manage client relationships seamlessly from any location, sustain high levels of client interaction via digital channels, increase the speed and agility of onboarding and ensure ongoing compliance. In doing so there has been increased demand to deploy and upgrade to the newest version of the firm’s WDX1 solution and to leverage cloud-based services more effectively.

WDX1 is the flagship, multi-award winning digital CLM solution from Wealth Dynamix, designed to support the complex requirements of wealth management companies from a single unified platform. Its capabilities span the entire client lifecycle, including client acquisition, client engagement, digital onboarding, regulatory compliance, relationship management, and ongoing client servicing.

Gary Linieres, CEO and Co-founder at Wealth Dynamix, said: "This has been a year of two halves in which firms focused initially on digitisation to optimise operational efficiency and improve cost-income ratios, then quickly switched focus to ensuring they could continue to serve staff and clients effectively whilst remote working. Technology has never played a more vital role in enabling business continuity and empowering advisors and the success of Wealth Dynamix through this trying period is testament to our many years of wealth management domain expertise and the flexibility of our solutions."

"Moving into 2021," Linieres continues, "wealth managers will need to provide all internal stakeholders with an integrated view of client journeys, so they can make proactive and intelligent recommendations that match client requirements. They will need to build agility into their technology platforms, so they can adapt to change quickly without interrupting service quality. And there will be a permanent shift in the way people do business, requiring fully effective and secure digital communications, while all the time meeting regulatory obligations."

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PR Newswire

Financial Report July – September 2020

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STOCKHOLM, Oct. 23, 2020 —

Financial Summary – Q3’20

  • Net Sales and Cash flow were better than expected
  • Net Sales of $371 million declined by 20% including an Organic Sales1  decline of 7%
  • Active Safety Net Sales of $170 million declined by 5% including an Organic Sales decline of 9%
  • Operating Cash flow was positive $1 million, which includes positive timing effects in the quarter

Outlook

  • Net Sales are expected to return to organic growth during Q4’20 and outperform the global LVP during H2’20
  • Currency translation, net is expected to be slightly positive for FY’20
  • RD&E, net is expected to improve by more than $100 million from 2019 (on a comparable basis)
  • Operating loss is expected to improve from 2019 levels (on a comparable basis), and Cash flow before financing activities1 is now expected to be better than $(170) million for H2’20

Business  Highlights

  • Cash flow before financing activities tracking better than our previous expectations for FY’20
  • Veoneer and Qualcomm Technologies, Inc. announced their intent to collaborate on the delivery of ADAS, Collaborative and AD solutions powered by Veoneer’s next-generation perception and driving policy software stack and the Qualcomm® Snapdragon Ride™ ADAS/AD scalable portfolio of System on Chip (SoC), and Accelerators
  • Completed the divestiture of the VBS-US operations to ZF Friedrichshafen AG
  • Market Adjustment Initiatives (MAI) program continues to contribute to the improved operating loss and cash flow performance
  • Order intake is approximately $600 million during the LTM, where Active Safety is approximately two thirds of the LTM order intake

Comments from Jan Carlson, Chairman, President and CEO

Health and safety continue to be our first priorities and we are closely monitoring the development of the COVID-19 pandemic, which unfortunately shows signs of becoming more severe again, and we are staying ready to take the necessary safety precautions and business actions.

Vehicle production accelerated through the quarter, leading to a rapid increase in demand in the entire automotive supply chain, in a time when we are still fighting the effects of the global COVID-19 pandemic. In this challenging environment we executed a record number of activities including: successful vehicle launches, continued market adjustment initiatives, signing of a letter of intent with Qualcomm, finalizing the split of Zenuity and the divestment of our brake business. To summarize our underlying performance improved in almost all metrics. I am pleased with Veoneer’s operational performance in the third quarter and I would like to thank the entire Veoneer team for their focus, dedication and discipline during this highly unusual year.

Cash flow was particularly strong in the quarter and while it included certain timing effects it allows us to expect a better 2020 full year cash flow before financing than previously expected. Our market adjustment initiatives also continue to deliver the targeted improvements, we are establishing new levels of run- rate for cash flow and capital expenditures and continue to drive improvements in RD&E efficiency.

Our daily execution is the foundation that will allow our plans to materialize, and I am pleased that we are managing key launches well including the flagship Mercedes S-Class, the Subaru Levorg and the Volvo XC40 Electric. We are on track for additional fourth quarter and early 2021 launches. This development is fundamental to achieving our stated target to return to organic growth towards the later part of 2020. The selection by EuroNCAP of the Mercedes GLE as the best vehicle in its 2020 test for assisted driving, where most of the active safety content comes from Veoneer is another recent important technology proof-point.

The Qualcomm collaboration is important to Veoneer for multiple reasons. Technologically, it strengthens our capability to provide a full scalable system for the next generation ADAS and later autonomous driving. The combination of Veoneer’s software for perception and drive policy and Qualcomm’s powerful and energy efficient System On a Chip (SoC) will bring a competitive offer to the market for vehicle launches in 2024 and beyond. Commercially, the go-to-market strategy led by Qualcomm will allow for broader access to the market. We are well on track to finalize the initial agreement during the fourth quarter.

Our focus areas first outlined at the beginning of 2020 remain: successful customer launches in 2020 and heading into 2021, market adjustment initiatives to continue to drive efficiencies and improve cash flow, and continuing to win profitable new business.

An earnings conference call will be held today, Friday, October 23, 2020 at 15:00 CET. To follow the webcast or to obtain the phone number/pin code, please see www.veoneer.com. The slide deck will be available on our website prior to the earnings conference call. 1 For all Non-U.S. GAAP financial measures, see the reconciliation tables in this earnings release, including the Non-U.S. GAAP Financial Measures section and further discussion of the forward-looking Non-U.S. GAAP financial measures on page  11.

    
This report is information that Veoneer, Inc. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the EVP Communications and IR set out above, at 12:00 CET on Friday, October 23, 2020.

Contacts:

Thomas Jönsson – EVP Communications & IR, +46 8 527 762 27 or thomas.jonsson@veoneer.com
Ray Pekar – VP Investor Relations, +1 248 794 4537 or ray.pekar@veoneer.com. Inquiries – Company Corporate website www.veoneer.com

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PR Newswire

G20 Saudi Secretariat Announces Digital Summit to Discuss Inclusive Growth in Aftermath of Covid-19

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RIYADH, Saudi Arabia, Oct. 21, 2020 — The Ministry of Investment of Saudi Arabia and the Saudi Secretariat as part of the international Conference program announces a four-day digital event series to explore how businesses, governments and citizens can drive opportunities for inclusive growth through regulation, new technologies and long-term strategic approaches in the aftermath of the Covid-19 pandemic.

Titled ‘A New Framework For Inclusive Growth’ and hosted by FT Live, the series will feature influential speakers from the worlds of business, politics and policy, interviewed by FT writers.

The series, taking place on 21, 22, 28 and 29 October 2020, will examine:

  • How the financial sector can be used for inclusive growth in both developed and emerging markets;
  • The role of policy, regulation and taxation in promoting national and international growth and stability;
  • The role of the digital economy in promoting inclusive growth – how smart cities and digital health and education can provide opportunities for all;
  • How changing global trade relationships are impacting the business environment for micro-, small- and medium-sized enterprises (MSMEs), and what can be done to support them.

Speakers include:

  • Baroness Catherine Ashton, Former EU Commissioner for Trade and Former High Representative of the Union for Foreign Affairs and Security Policy
  • Ann Cairns, Executive Vice Chair, Mastercard
  • Angel Gurria, Secretary General, OECD
  • Sir Chris Hohn, Founder and Managing Director,  TCI
  • Shameel Joosub, CEO, Vodacom Group
  • Mukhisa Kituyi, Secretary General, UNCTAD

The series will be live streamed and delegates can participate on an interactive event platform. A full recording of the event will be available afterwards at globalsummitseries.live.ft.com

 

PR Newswire

Invitation to Electrolux Q3 presentation

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STOCKHOLM, Oct. 9, 2020 — Electrolux results for the third quarter of 2020 will be published on October 23, 2020, at approximately 08.00 CET.

A telephone conference will be held following the release of the results, starting at 09.00 CET. Jonas Samuelson, President and CEO and Therese Friberg, CFO will comment on the report.

Slides used in the presentation will be available at Electrolux website, www.electroluxgroup.com/ir. The third quarter report will also be available at the same address.

You can listen to the presentation here.

The details for participation by telephone are as follows:

Participants in Sweden should call +46-8-566-426-51

Participants in UK/Europe should call +44-3333-000-804

Participants in US should call +1-631-9131-422

Pin code: 36830556#

For further information, please contact:

Sophie Arnius, Head of Investor Relations, +46-70-590-80-72

Electrolux Press Hotline, +46-8-657-65-07

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PR Newswire

Diginex Lists and Begins Trading on Nasdaq

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Diginex is the first company with a cryptocurrency exchange to be listed on Nasdaq

HONG KONG, Oct. 2, 2020 — Diginex Limited ("Diginex" or the "Company"), a digital assets financial services company, announced today that it has completed its business combination transaction (the "Transaction") with 8i Enterprises Acquisition Corp. (Nasdaq: JFK) ("8i"), a special purpose acquisition company ("SPAC"). The Transaction, which was approved at a Special Meeting of Shareholders on September 15, 2020, creates the first listed company on Nasdaq with a cryptocurrency exchange.

Diginex Limited will trade on Nasdaq under the ticker symbol "EQOS" where it will offer investors the opportunity to participate in the growth of digital assets. The Company’s warrants will trade under the ticker "EQOSW".

Approximately US$50 million was raised, comprising both Diginex’s private raise completed in advance of the listing and the cash remaining in the SPAC. This will strengthen the Company’s balance sheet and will enable it to realize its vision to build a digital assets ecosystem that offers innovative product and services that are compliant, fair and trusted.

Richard Byworth, CEO of Diginex, commented, "This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first-ever company with a crypto exchange on Nasdaq. This also presents the first opportunity for anyone trading in the US capital markets to buy directly into the equity of a digital asset ecosystem and opens the door for financial institutions to participate in the enormous opportunity that digital assets present."

"Diginex offers a unique set of innovative products and institutional-grade infrastructure. Our EQUOS.io exchange is regulatory-focused and will offer features such as segregation of duties, portfolio margining, and cross collateralization, which are not commonly available in the crypto exchange marketplace."

"While EQUOS.io forms the core of our ecosystem, we are also the first company to have an integrated offering comprising a regulated asset manager, cold and warm custody solutions, and capital markets advisory as well as a multivenue trading platform that plugs into some of the world’s leading trading technology providers."

Chi-Won Yoon, Chairman of Diginex said: "We are delighted to have reached this milestone for both the industry and Diginex. The Nasdaq listing demonstrates our commitment to bringing transparency and accountability to the digital assets industry. This should give investors greater assurance about the long-term growth and viability of this asset class."

Chardan acted as a financial advisor and Loeb and Loeb LLP acted as legal counsel to 8i. Winston & Strawn LLP acted as legal counsel to Diginex.

About Diginex

Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian, Digivault and funds business Bletchley Park Asset Management. For more information visit: https://www.diginex.com/

Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn. Follow EQUOS.io on social media on Twitter @EQUOS_io and on LinkedIn.

Forward Looking Statements

This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled "Risk Factors" in Diginex’s Registration Statement on Form F-4 jointly filed bv Diginex and 8i pertaining to the Business Combination (the "Form F-4"). Important factors, among others, that may affect actual results or outcomes include; the inability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, the amount of cash available following any redemptions by 8i shareholders; the ability to meet Nasdaq’s listing standards following the consummation of the proposed transaction; and costs related to the proposed transaction. Important factors that could cause the combined company’s actual results or outcomes to differ materially from those discussed in the forward-looking statements include: Diginex’s limited operating history and history of net losses; Diginex’s ability to manage growth; Diginex’s ability to execute its business plan; Diginex’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex’s products; Diginex’s ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex’s intellectual property; general economic and market conditions impacting demand for Diginex’s products and services; and such other risks and uncertainties as are discussed in 8i’s prospectus filed in connection with its initial public offering and the proxy statement to be filed relating to the business combination.

Diginex expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Diginex’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Related Links :

https://www.diginex.com

PR Newswire

AB Electrolux to propose reinstated dividend based on recovery in earnings and cash flow

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STOCKHOLM, Sept. 25, 2020 — After assessing the company’s financial position and the impact of the coronavirus pandemic, the Board of Directors of AB Electrolux has decided to propose a dividend of SEK 7 per share for the fiscal year 2019. Electrolux has seen a substantial recovery in earnings and cash flow during the third quarter, with pent-up demand and government stimulus programs impacting consumer spending patterns and thus driving a positive development in all business areas.

On March 23, 2020, the Board of Directors withdrew its SEK 8.50 per share dividend proposal for the AGM 2020, in light of the then considerable uncertainty relating to the medium-term effects of the pandemic. Since then however, as was communicated in the second quarter report on July 17, market demand has begun to recover. In line with the outlook, demand has remained strong during the third quarter. Electrolux estimates that the negative impact initially seen related to the pandemic will largely be recovered in the operating profit for the nine-month period ending September 30, including a strong improvement in cash flow. Looking into the fourth quarter, visibility remains limited as demand may be impacted by several factors – both positive and negative – but at present, Electrolux anticipates financial performance to gradually normalize.

The Board of Directors therefore has concluded that a dividend can be proposed without jeopardizing Electrolux financial position. It will call for an Extraordinary General Meeting on November 3, 2020, to decide on a proposal for a dividend for the fiscal year 2019 of SEK 7 per share, to be paid in one installment. The Board will also propose that a performance based long-term share program for 2020 is implemented in line with its original proposal for the AGM 2020.

The Extraordinary General Meeting will also decide on a proposal from the Board of Directors to include a possibility in the Articles of Association to allow voting by post and to collect proxies before general meetings. Further details regarding the Extraordinary General Meeting will be provided shortly in a separate notice for the meeting.

Electrolux report for the third quarter of 2020 will be published on October 23, 2020 at about 0800 CET. The company will then provide an updated market and business outlook for the full year 2020.

This is information that AB Electrolux is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 0830 CET on September 25, 2020

For further information, please contact:                                          
Daniel Frykholm
Electrolux Press Hotline
+46 8 657 65 07

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Arria NLG introduces Microsoft Excel add-in bringing dynamic, on demand natural language summaries and report automation to spreadsheets

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New integration turns Excel data into contextual narratives reducing the time it takes to identify and communicate key insights

MORRISTOWN, New Jersey, Sept. 2, 2020 — Arria NLG today introduced Arria for Excel, a Microsoft Office add-in that brings natural language generation (NLG) functionality to any user of Microsoft Excel.

Arria brings the power of language to the most widely adopted business analytics tool! Arria for Excel gives you the ability to instantly narrate Excel spreadsheets, easily export directly to Word or PowerPoint, enjoy timely financial report automation and more!
Arria brings the power of language to the most widely adopted business analytics tool! Arria for Excel gives you the ability to instantly narrate Excel spreadsheets, easily export directly to Word or PowerPoint, enjoy timely financial report automation and more!

Users worldwide rely on the robust functionality and intuitive design of Microsoft Excel to help them analyze and understand data. Arria’s add-in brings data understanding to the masses.

Arria for Excel adds natural-language summaries and report automation right within the worksheet, instantly turning volumes of data into insightful narratives. Users can tailor narratives to specific audiences, providing contextual commentary and explanatory analyses which are not only indistinguishable from those created by subject matter experts, but also created in seconds.

For enterprise professionals, Excel is entrenched as the most widely adopted business analytics tool and it is every analyst’s tried-and-true tool for decision and reporting support. Arria augments existing Excel workflows with:

  1. Consistency and accuracy. A next-generation report writer that dynamically automates data-driven financial summaries. Best practices are captured and maintained. Last-minute changes are no longer nerve-racking.
  2. Timeliness of reporting. Financial reports must be available in time to inform decision making. Therefore, financial reports can now be published as soon as possible after the end of the reporting period.
  3. Team sharing. With volumes of data changing at a pace like never before, insightful information delivery across the enterprise provides clarity and confidence in times of uncertainty.

If you’re like most people, the first time you use it, you’ll wonder how you ever got along without it.  It is simply a superb addition to the software, dramatically increasing productivity, efficiency and speed to decision-making.

"For data to have value, enterprises must be able to extract meaningful insights that lead to positive business outcomes," said Sharon Daniels, CEO, Arria NLG. "They need to reduce the time it takes to get to those insights, and take action."

Businesses that generate analysis and reports with basic tables and charts lacking advanced language analytics are competitively disadvantaged. Pairing Arria NLG technology with Excel eliminates these constraints by augmenting complex analysis with easy-to-digest narrative directly within worksheets.

In an ever-changing time, businesses and governments are turning to technology to simplify and operationalize what was previously complex and time consuming. Arria for Excel has the potential to drive the user experience of next-generation augmented analytics tools expanding the benefits to a wider audience.

For details, please visit: https://www.arria.com/excel/

About Arria NLG

Arria NLG is a form of artificial intelligence that transforms structured data into natural language. Through data analysis, knowledge automation, language generation and tailored information delivery, Arria software replicates the human process of expertly analyzing and communicating data insights. Arria dynamically turns data into written or spoken narrative at machine speed and on a massive scale by giving data the power of language.

The Arria NLG platform gives you the ability to take advantage of pre-built out-of-the-box apps—or, you can create and customize your own projects. Arria has a rapidly growing list of global clients and partners providing solutions across multiple industries including; banking, financial services, insurance, pharmaceutical, consumer product goods, news and media.

Media Contact: Jenn Mastrangelo
jennifer.mastrangelo@arria.com

SOURCE Arria NLG

Related Links

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Private Trade Finance Firm, USEC, Issues Limited Private Placement Offering to Expand Trade Operations

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GENEVA, Switzerland, Aug. 25, 2020 — Geneva based international investment firm, United Securities Equity Corp (USEC)  has recently issued a new limited private placement offering in order to further strengthen its investment portfolio and stimulate trade activity in light of the widespread slowdown due to the corona virus pandemic.  USEC provides a specialized range of trade finance solutions to businesses across the globe.  This offering moves USEC closer to its goal of expanding their trade finance operations, potentially valued at $850M USD.

 

 

With the support and guidance of the ICC (International Chamber of Commerce), USEC positions itself as a unique conduit to trade finance and investment opportunities for companies during this period of economic uncertainty. The ICC wishes to effectively alleviate some of the key disruptions caused by the novel coronavirus (COVID-19) pandemic.

In its April 6th 2020 memo the ICC is "calling on governments and central banks to immediately void the legal requirement for paper-based documentation, and to adopt the UNCITRAL Model Law on Electronic Transferable Records."  ICC’s Secretary-General John W.H. Denton AO further clarified that, "The trade finance market is systemically important to the functioning of the global economy."

To this end, USEC is working diligently to fulfill the ICC’s objective, by offering its services to businesses in search of non-traditional funding in the goal of helping with a speedy global economic recovery.  "As the global economy gradually recovers and opens for business again, trade companies may meet with funding constraints and require assistance to transact effectively," said Edgar Burke, USEC Chief Investment Officer.

USEC has enlisted the services of international advisory firm Mainsail Capmarkets who will operate in the capacity of Exclusive Distributor for the Private Placement.

United Securities Equity Corp (USEC) is a Geneva based international investment firm, providing businesses across the globe with a specialized range of trade and finance solutions.

If you would like more information about this topic, please contact Media Relations, Nelson Abraham, at +41 22 531 0013 or email media@usecinvest.com.

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NEOM launches infrastructure work for the world’s leading cognitive cities in an agreement with stc

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– NEOM’s next generation cognitive cities will support its cutting-edge urban environments, improving the lives of residents and businesses far beyond the capabilities of today’s smart cities

– stc will deliver an advanced 5G and IoT network to support the development of NEOM

NEOM, Saudi Arabia, July 28, 2020 — NEOM Co. announced its first step to create the world’s leading cognitive cities that rely on leading technology for digital services after signing a contract with stc group to establish a 5G network infrastructure that will accelerate NEOM’s digital ambitions. In addition to the one-year contract to develop the network, the partnership also includes the development of an innovation center in NEOM to explore new 5G opportunities.

Cognitive Cities in NEOM
Cognitive Cities in NEOM

NEOM’s next generation cognitive cities will support its cutting-edge urban environments, improving the lives of residents and businesses far beyond the capabilities of today’s smart cities. NEOM will use one of the most advanced 5G technology in the world, to enable the proactive exchange and analysis of data between NEOM residents and city infrastructure.  

stc will build a wireless 5G network enabling present and future 5G applications across NEOM. With a speed and capacity 10 times higher than standard 4G networks, 5G in NEOM will enable numerous segments such as Internet of Things (IoT), data analytics, virtual reality, augmented reality, smart homes, and autonomous vehicles. It will also provide the public safety network for NEOM security services.

Commenting on the agreement, NEOM CEO Nadhmi Al Nasr said: “We are glad to form this partnership with a leading national digital enabler such as stc to support our ambition and goal to be an accelerator of human progress and to create the world’s leading digitally sustainable, cognitive cities. NEOM’s infrastructure will utilize AI, robotics, and human-machine fusion to deliver greater predictive intelligence and enable faster decision making across all NEOM sectors. The procurement and deployment of a future-proof wireless network is a critical first for NEOM in realising our goal of driving innovation in the future digital economy.”

The CEO of stc Group, Eng. Nasser bin Sulaiman Al Nasser, added: “This agreement reflects stc’s commitment to enabling digital transformation and providing digital solutions across the Kingdom. We are proud to have been chosen to build the infrastructure for the 5G network and an innovation centre in NEOM – the land of the future and a model for sustainability, innovation, development, and prosperity. This agreement comes in line with stc’s vision as a digital enabler to develop infrastructure and provide the latest technologies that will enrich the experience of societies and foster innovation, which in turn will contribute to improve the customer experience and moving the digital transformation forward.”

NEOM will also trial and test 5G solutions that will allow it to lead in fast-growing, future-focused sectors such as robotics, Artificial Intelligence (AI), and human machine interface technologies. Leveraging such technology will open up the enormous potential of NEOM as a new economic driver across a range of industry sectors for the Kingdom.

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses, and reinventing environmental conservation.  

NEOM will be the home and workplace to more than a million residents from around the world. It will include hyperconnected, cognitive towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in ground-breaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity – all supported by a progressive law compatible with international norms and conducive to economic growth. 

For further information, visit: www.neom.com.

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