Infineon gains approval of Science Based Targets initiative for ambitious CO2 emission reduction targets
Infineon sets ambitious scope 3 target to further reduce emissions along the supply chain
Active work with over one hundred suppliers to further reduce emissions
MUNICH, May 15, 2025 /CNW/ -- Infineon Technologies AG (FSE: IFX) (OTCQX: IFNNY) has reached another milestone in its decarbonization efforts: The Science Based Targets initiative (SBTi) has approved the company's ambitious greenhouse gas emission reduction targets. The approval spans the company's own emissions (scope 1 and 2) as well as emissions along the supply chain (scope 3). The scope 1 and 2 goals are in line with the Paris Agreement to limit global temperature increase to 1.5 ° Celsius, meeting the most ambitious SBTi category for near-term CO 2 reduction targets. In addition, Infineon has now set itself an official scope 3 target addressing the supply chain. Collaboration with suppliers is a fundamental part of Infineon's sustainability strategy; the Infineon procurement team is already actively working together with over a hundred suppliers on solutions that reduce CO 2 emissions.
"The validation of our decarbonization targets by the Science Based Targets initiative is an important milestone in Infineon's sustainability efforts. It underscores our commitment to reducing greenhouse gas emissions along our entire value chain," said Elke Reichart, member of the Management Board and Chief Digital and Sustainability Officer at Infineon. "Climate change and its consequences remain one of the biggest threats facing society and need our continued action. A dedicated scope 3 target underlines our commitment to drive decarbonization even further."
Specifically, Infineon has made a commitment to SBTi to reduce absolute scope 1 and 2 greenhouse gas emissions by 72.5 percent by 2030 compared to the base year 2019. Scope 1 and 2 targets refer to the company's direct operations. Moreover, Infineon has now included a scope 3 emission target commitment: 72.5 percent of its suppliers measured by emissions related to purchased goods and services, capital goods and upstream transportation and distribution will have a science-based target by 2029.
In addition to the certified science-based targets, Infineon remains committed to its 2030 CO 2 neutrality goal (scope 1, 2) as formulated by the company in 2020. The reduction of CO 2 emissions is still a priority for Infineon. Voluntary abatement of greenhouse gas emissions, energy efficiency measures as well as green electricity are key levers for the company to reduce its CO 2 footprint.
The Science Based Targets initiative (SBTi) is a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). SBTi provides a clearly defined pathway for companies to reduce greenhouse gas emissions. Targets are considered 'science-based' when they are in line with the latest climate science in order to meet the goals of the Paris Agreement: limiting global warming to below 2° Celsius, ideally to below 1.5°C above pre-industrial levels.
Picture is available at AP
About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 58,060 employees worldwide (end of September 2024) and generated revenue of about €15 billion in the 2024 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
12 minutes ago
- Cision Canada
BIRKS GROUP INC. REPORTS FISCAL 2025 RESULTS Français
, July 25, 2025 /CNW/ - Birks Group Inc. (the "Company" or "Birks Group") (NYSE American: BGI), today reported its financial results for the fiscal year ended March 29, 2025. Highlights All figures presented herein are in Canadian dollars. For the fiscal year ended March 29, 2025 ("fiscal 2025"), the Company reported net sales of $177.8 million, a decrease of $7.5 million or 4.0%, from the comparable fiscal year ended March 30, 2024 ("fiscal 2024"). Comparable store sales for fiscal 2025 decreased by 3.4% compared to the corresponding period in fiscal 2024. The decrease in net sales and comparable store sales is mainly due to lower sales of branded jewelry due to the exit of a jewelry brand from two stores. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales. The Company reported gross profit of $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales in fiscal 2024, due to lower sales volume resulting from the exit of a jewelry brand from two stores. Gross profit as a percentage of sales for fiscal 2025 was 37.3%, a decrease of 240 basis points from the gross profit as a percentage of sales of 39.7% for fiscal 2024 as a result of the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss. Mr. Jean-Christophe Bédos, President and Chief Executive Officer of Birks Group, commented: "Although our net sales and comparable store sales for fiscal 2025 are lower than fiscal 2024, when excluding the effect of third-party jewelry brand movement, comparable store sales are positive year-over-year, as a result of a strong retail performance and product offering particularly in our third-party branded timepieces. In fiscal 2025, we opened two new stores under the TimeVallée and Birks brands and continued to benefit from the fiscal 2024 renovations in our Chinook and Laval locations. These initiatives along with our recent announcement of the acquisition of the watch and jewelry business of European Boutique will continue to generate greater sales and contribute to improve our results." Mr. Bédos further commented: "I would like to thank our teams for their tireless efforts. The results achieved in fiscal 2025 are a testament to our commitment to our customers and I am grateful for the unwavering efforts of all our employees and the implementation of various initiatives during this past year to enhance our product offering and customer experience." Financial overview for the fiscal year ended March 29, 2025: Total net sales for fiscal 2025 were $177.8 million compared to $185.3 million in fiscal 2024, a decrease of $7.5 million, or 4.0%. The decrease in net sales in fiscal 2025 was primarily driven by the results of the Company's retail channel. Net retail sales in fiscal 2025 were $7.3 million lower than fiscal 2024, primarily due to the decrease in third-party branded jewelry sales, following the exit of a jewelry brand from two stores, partially offset by an increase in branded timepiece sales throughout the retail network; Comparable store sales decreased by 3.4% in fiscal 2025 compared to fiscal 2024 mainly due to lower third-party branded jewelry sales following the exit of a jewelry brand from two stores, partially offset by an increase in third-party branded timepiece sales and an increase in average sales transaction value. When excluding the third-party jewelry brand movement, the comparable store sales increased by 6.9%, mainly driven by timepiece sales; Total gross profit for fiscal 2025 was $66.3 million, or 37.3% of net sales, compared to $73.6 million, or 39.7% of net sales, in fiscal 2024. This decrease in gross profit was primarily due to the decreased sales volume experienced during fiscal 2025, due to third-party branded jewelry sales following the exit of a jewelry brand from two stores, and a foreign exchange loss due to the strengthening of the U.S. dollar, partially offset by the increased sales of third-party branded timepieces. The decrease of 240 basis points in gross margin percentage resulted primarily from the sales mix with decreased sales from third-party branded jewelry, as well as a foreign exchange loss, partially offset by an increase in branded timepiece sales; SG&A expenses in fiscal 2025 were $59.5 million, or 33.5% of net sales, compared to $65.7 million, or 35.5% of net sales, in fiscal 2024, a decrease of $6.2 million. The main drivers of the decrease in SG&A expenses in fiscal 2025 include lower occupancy costs ($2.7 million) mainly due to store closures and store lease modifications, lower marketing costs ($2.3 million) mainly due to lower brand development initiatives, lower compensation costs ($0.5 million) mainly due to lower sales volume and head count reductions, lower general operating costs ($0.4 million) and lower non-cash based compensation expense ($0.3 million) mainly due to fluctuations in the Company's stock price during the fiscal year. As a percentage of sales, SG&A expenses in fiscal 2025 decreased by 200 basis points as compared to fiscal 2024, reflecting the Company's focus on cost management and containment; The Company's adjusted EBITDA (1) for fiscal 2025 was $9.2 million, a decrease of $0.8 million, compared to adjusted EBITDA (1) of $10.0 million for fiscal 2024; The Company's reported operating loss for fiscal 2025 was $5.5 million, a decrease of $6.7 million, compared to a reported operating income of $1.2 million for fiscal 2024. The operating loss in fiscal 2025 includes an impairment of long-lived assets of $4.6 million related to the write-down of capitalized software costs associated with the delay in completing the implementation of the Company's ERP system; The Company's recognized interest and other financing costs were $9.7 million in fiscal 2025, an increase of $1.7 million, compared to recognized interest and other financing costs of $8.0 million in fiscal 2024. This increase is mainly due to an increase in the average amount outstanding on the amended credit facility, additional borrowings, and a foreign exchange loss of $1.0 million in fiscal 2025 versus a foreign exchange gain of $0.2 million in fiscal 2024 on our U.S. dollar denominated debt; The Company recognized a net loss for fiscal 2025 of $12.8 million, or $0.66 per share, compared to a net loss for fiscal 2024 of $4.6 million, or $0.24 per share. (1) This is a non-GAAP financial measure defined below under "Non-GAAP Measures" and accompanied by a reconciliation to the most directly comparable GAAP financial measure. About Birks Group Inc. Birks Group is a leading designer of fine jewelry and an operator of luxury jewelry, timepieces and gifts retail stores in Canada. The Company operates 17 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Montreal under the Birks brand, one retail location in Montreal under the TimeVallée brand, one retail location in Calgary under the Brinkhaus brand, one retail location in Vancouver under the Graff brand, one retail location in Vancouver under the Patek Philippe brand, four retail locations in Laval, Ottawa and Toronto under the Breitling brand, four retail locations in Toronto under the European Boutique brand, one retail location in Toronto under the Omega brand and one retail location in Toronto under the Montblanc brand. Birks was founded in 1879 and has become Canada's premier designer and retailer of fine jewelry, timepieces and gifts. Additional information can be found on Birks' web site, NON-GAAP MEASURES The Company reports financial information in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). The Company's performance is monitored and evaluated using various sales and earnings measures that are adjusted to include or exclude amounts from the most directly comparable GAAP measure ("non-GAAP measures"). The Company presents such non-GAAP measures in reporting its financial results to assist in business decision-making and to provide key performance information to senior management. The Company believes that this additional information provided to investors and other external stakeholders will allow them to evaluate the Company's operating results using the same financial measures and metrics used by the Company in evaluating performance. The Company does not, nor does it suggest that investors and other external stakeholders should, consider non-GAAP measures in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. These non-GAAP measures may not be comparable to similarly titled measures presented by other companies. In addition to our results determined in accordance with U.S. GAAP, we use non-GAAP measures including "EBITDA" and "Adjusted EBITDA". "EBITDA" is defined as net income (loss) before interest expense and other financing costs, income taxes expense (recovery) and depreciation and amortization. (in thousands) For the fiscal year ended March 29, 2025 March 30, 2024 Net income (loss) (GAAP measure) $ (12,819) $ (4,631) as a % of net sales -7.2 % -2.5 % Add the impact of: Interest expense and other financing costs 9,712 8,007 Depreciation and amortization 7,733 6,639 EBITDA (non-GAAP measure) $ 4,626 $ 10,015 as a % of net sales 2.6 % 5.4 % Add the impact of: Impairment of long-lived assets (a) 4,592 — Adjusted EBITDA (non-GAAP measure) $ 9,218 $ 10,015 as a % of net sales 5.2 % 5.4 % (a) Non-cash impairment of long-lived assets in fiscal 2025 related to certain software costs associated with the delay in completing the implementation of the Company's ERP system. Forward Looking Statements This press release contains forward- looking statements which can be identified, for example, by their use of words such as "plans," "expects," "believes," "will," "anticipates," "intends," "projects," "estimates," "could," "would," "may," "planned," "goal," and other words of similar meaning. All statements that address expectations, possibilities or projections about the future, including without limitation, statements about anticipated economic conditions, generation of shareholder value, and our strategies for growth, performance drivers, expansion plans, sources or adequacy of capital, expenditures and financial results are forward-looking statements. Because such statements include various risks and uncertainties, actual results might differ materially from those projected in the forward- looking statements and no assurance can be given that the Company will meet the results projected in the forward-looking statements. Accordingly, the reader should not place undue reliance on forward-looking statements. These risks and uncertainties include, but are not limited to the following: (i) a decline in consumer spending or deterioration in consumer financial position; (ii) economic, political and market conditions, including the economies of Canada and the U.S. and the influence of inflation on consumer spending, which could adversely affect the Company's business, operating results or financial condition, including its revenue and profitability, through the impact of changes in the real estate markets, changes in the equity markets and decreases in consumer confidence and the related changes in consumer spending patterns, the impact on store traffic, tourism and sales as well as the recently imposed tariffs (and retaliatory measures), possible changes therefrom and other trade restrictions; (iii) the impact of fluctuations in foreign exchange rates, increases in commodity prices and borrowing costs and their related impact on the Company's costs and expenses; (iv) the Company's ability to maintain and obtain sufficient sources of liquidity to fund its operations, to achieve planned sales, gross margin and net income, to keep costs low, to implement its business strategy, maintain relationships with its primary vendors, to source raw materials, to mitigate fluctuations in the availability and prices of the Company's merchandise, to compete with other jewelers, to succeed in its marketing initiatives (including with respect to Birks branded products), and to have a successful customer service program; (v) the Company's plan to evaluate the productivity of existing stores, close unproductive stores and open new stores in new prime retail locations, renovate existing stores and invest in its website and e-commerce platform; (vi) the Company's ability to execute its strategic vision; and (vii) the Company's ability to invest in and finance capital expenditures; (viii) the Company's ability to maintain its listing on the NYSE American exchange or to list its shares on another national securities exchange; and (ix) the Company's ability to continue as a going concern. Information concerning the above and other risk factors that could cause actual results to differ materially is set forth under the captions "Risk Factors" and "Operating and Financial Review and Prospects" and elsewhere in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on July 25, 2025 and subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. F iscal Year Ended March 29, 2025 March 30, 2024 Net sales $ 177,807 $ 185,275 Cost of sales 111,499 111,720 Gross profit 66,308 73,555 Selling, general and administrative expenses 59,518 65,705 Depreciation and amortization 7,733 6,639 Impairment of long-lived assets 4,592 — Total operating expenses 71,843 72,344 Operating income (loss) (5,535) 1,211 Interest and other financial costs 9,712 8,007 Income (loss) before taxes and equity in earnings of joint venture (15,247) (6,796) Income taxes (benefits) — — Equity in earnings of joint venture, net of taxes of $0.9 million ($0.8 million in fiscal 2024) 2,428 2,165 Net (loss) income, net of tax $ (12,819) $ (4,631) Weighted average common shares outstanding: Basic 19,357 19,058 Diluted 19,357 19,058 Net (loss) income per common share: Basic $ (0.66) $ (0.24) Diluted (0.66) (0.24) As of March 29, 2025 March 30, 2024 Assets Current Assets Cash and cash equivalents $ 1,509 $ 1,783 Accounts receivable and other receivables 6,608 8,455 Inventories 116,277 99,067 Prepaids and other current assets 2,072 2,913 Total current assets 126,466 112,218 Long-term receivables 1,084 1,571 Equity investment in joint venture 5,169 4,122 Property and equipment 25,380 25,717 Operating lease right-of-use asset 34,964 51,753 Intangible assets and other assets 3,017 7,887 Total non-current assets 69,614 91,050 Total assets $ 196,080 $ 203,268 Liabilities and Stockholders' Equity (Deficiency) Current liabilities Bank indebtedness $ 73,630 $ 63,372 Accounts payable 58,114 43,011 Accrued liabilities 6,053 6,112 Current portion of long-term debt 4,860 4,352 Current portion of operating lease liabilities 6,929 6,430 Total current liabilities 149,586 123,277 Long-term debt 21,374 22,587 Long-term portion of operating lease liabilities 38,629 59,881 Other long-term liabilities 4,502 2,672 Total long-term liabilities 64,505 85,140 Stockholders' equity (deficiency): Class A common stock – no par value, unlimited shares authorized, issued and outstanding 11,876,717 (11,447,999 as of March 30, 2024) 42,854 40,725 Class B common stock – no par value, unlimited shares authorized, issued and outstanding 7,717,970 57,755 57,755 Preferred stock – no par value, unlimited shares authorized, none issued — — Additional paid-in capital 19,719 21,825 Accumulated deficit (138,295) (125,476) Accumulated other comprehensive income (loss) (44) 22 Total stockholders' equity (deficiency) (18,011) (5,149) Total liabilities and stockholders' equity (deficiency) $ 196,080 $ 203,268 Company Contact: Katia Fontana Vice President and Chief Financial Officer (514) 397-2592 For all press and media inquiries, please contact: [email protected] SOURCE Birks Group Inc.
Cision Canada
42 minutes ago
- Cision Canada
Galaxy Executes One of the Largest Notional Bitcoin Transactions Ever
NEW YORK, July 25, 2025 /CNW/ - Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY), a global leader in digital assets and data center infrastructure, today announced the successful execution of one of the largest notional bitcoin transactions in the history of crypto on behalf of a client. Galaxy completed the sale of more than 80,000 bitcoin—valued at over $9 billion based on current market prices—for a Satoshi-era investor, representing one of the earliest and most significant exits from the digital asset market. The transaction was part of the investor's broader estate planning strategy. About Galaxy Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Disclaimers The TSX has neither approved nor disapproved the contents of this press release. ©Copyright Galaxy Digital 2025. All rights reserved. SOURCE Galaxy Digital Inc.
Cision Canada
42 minutes ago
- Cision Canada
Media advisory - Minister Joly to participate in a site visit at Algoma Steel Français
SAULT STE. MARIE, ON, July 25, 2025 /CNW/ - The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, will be participating in a site visit at Algoma Steel. Date: Monday, July 28, 2025 Time: 9:00 a.m. (ET) tour Location: Sault Ste. Marie, Ontario Members of the media are asked to contact ISED Media Relations at [email protected] to receive event location details and confirm their attendance. Stay connected Find more services and information on the Innovation, Science and Economic Development Canada website. Follow Innovation, Science and Economic Development Canada on social media. SOURCE Innovation, Science and Economic Development Canada
