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Yahoo
3 days ago
- Business
- Yahoo
TITAN Group was Recognized as one of the World's Most Sustainable Companies by TIME magazine for the Second Consecutive Year
BRUSSELS, June 25, 2025--(BUSINESS WIRE)--Regulatory News: TITAN Group (Brussels:TITC) has been named by TIME magazine as one of the world's most sustainable companies for the second consecutive year, rising 158 positions to reach the 150th position in the 2025 ranking of 500 companies. Notably, TITAN stands out as the highest-ranked company among the very few building materials companies to make the list, reinforcing its leadership and commitment to sustainability on a global scale. Leonidas Canellopoulos, Chief Innovation and Sustainability Officer of TITAN Group, said: "Being named one of the world's most sustainable companies by TIME for the second year in a row is a powerful endorsement of our growth strategy in action. Sustainability is woven into every decision we make - from bold innovation in new products and decarbonized processes to transparent execution. Guided by our purpose to make the world around us a safe, sustainable, and enjoyable place to live, we are accelerating our progress and actively contributing to a more innovative and sustainable industry." TITAN has set science-based targets aligned with the 1.5°C climate scenario and was recognized as a climate leader by both the CDP (formerly Carbon Disclosure Project) and the Financial Times. The company continues to make strong progress towards its CO₂ reduction goals and broader ESG targets for 2025 and beyond. Its adherence to the UN Global Compact and participation in the UNFCCC Race to Zero also played a significant role, as did TITAN's strong commitment to sustainability and long-term value creation for customers, local communities, employees, and other stakeholders across all its regions. TIME and data firm Statista have developed a rigorous methodology to measure the world's most sustainable companies for 2025. Their sustainability evaluation assessed companies based on external ratings, commitments, and various environmental and social Key Performance Indicators (KPIs) disclosed in externally assured reports, in compliance with the CSRD and international reporting standards such as GRI, SASB, and TCFD. These KPIs include emission intensity, emission reduction rates, energy intensity, the proportion of renewable energy used, diversity on boards and in leadership, gender pay gap, work safety, and employee turnover rate. The final list features the 500 highest-performing companies across 35 countries and 21 industries. You may view the full 2025 ranking by TIME magazine here: About TITAN Group TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs more than 6,000 people and is present in over 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With a 120-year history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The parent company is listed on Euronext and the Athens Exchange. For more information, visit our website at View source version on Contacts media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
3 days ago
- Business
- Cision Canada
CORUS ENTERTAINMENT ANNOUNCES FISCAL 2025 THIRD QUARTER RESULTS
Consolidated revenue decreased 10% for the quarter and 11% for the year-to-date Consolidated segment profit (1) decreased 9% for the quarter and 32% for the year-to-date Consolidated segment profit margin (1) of 21% for the quarter and 18% for the year-to-date Net loss attributable to shareholders of $7.3 million ($0.04 loss per share basic) for the quarter and $51.3 million ($0.26 loss per share basic) for the year-to-date Free cash flow (1) of negative $32.5 million for the quarter and positive $3.3 million for the year-to-date TORONTO, June 26, 2025 /CNW/ - Corus Entertainment Inc. (TSX: CJR.B) announced its third quarter financial results today. "Our third quarter results reflect progress on our plan to reduce the cost base of our business," said John Gossling, Chief Executive Officer. "Television advertising revenue was consistent with our Q3 outlook, with impressive audience performance on Global and our largest specialty brands offset by a challenging industry landscape. Looking ahead, we have secured a stellar line-up of new shows and returning hit programming for the upcoming broadcast season, supporting our pursuit of targeted growth opportunities. Given persistent industry headwinds, we are making steady progress on our capital and debt plan while capturing significant savings and efficiencies through our ongoing right-sizing initiatives." (1) In addition to disclosing results in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"), the Company also provides supplementary non-IFRS measures as a method of evaluating the Company's performance and to provide a better understanding of how management views the Company's performance. These non-IFRS or non-Generally Accepted Accounting Principles ("GAAP") measures can include: segment profit (loss), segment profit margin, free cash flow, adjusted net income (loss) attributable to shareholders, adjusted basic earnings (loss) per share, net debt to segment profit, and new platform revenue. These are not measurements in accordance with IFRS and should not be considered as an alternative to any other measure of performance under IFRS. Please see additional discussion and reconciliations under the Key Performance Indicators and Non-GAAP Financial Measures section of the Company's Third Quarter 2025 Report to Shareholders. Segment Revenue (1) New platform revenue does not have a standardized meaning prescribed by IFRS. For definition and explanation, see the discussion under the Key Performance Indicators and Non-GAAP Financial Measures section of the Third Quarter 2025 Report to Shareholders. Operational Highlights Building on Corus' strong schedule, Global TV was #1 in core primetime for Spring 2025 and Fall 2024 (1). Total monthly hours streamed across streaming platforms (STACKTV and the Global TV App) for the Winter/Spring season grew 7% over prior year (2). In addition, Corus continued to implement cost savings initiatives. Global announces its 2025/26 lineup with seven new prime time acquisitions, alongside top series and returning favourites. Global TV's roster will deliver 16.5 hours of simulcast programming in primetime this fall and introduces new ensemble workplace comedy DMV, dramas CIA and Sheriff Country, and new singing competition series The Road. The fall schedule also features the return of #1 Comedy Ghosts (3), #1 Reality Show Survivor (3), #1 Late Night Show Saturday Night Live (3), along with the NCIS franchise and popular series 9-1-1, FBI, Matlock and Elsbeth. Corus Entertainment announces its 2025/2026 lineup across its Specialty portfolio and streaming platforms. Corus continues its exclusive content partnership with NBCUniversal, delivering Peacock and Sky Original series including The Paper, The Copenhagen Test, PONIES, All Her Fault, and The 'Burbs, as well as returning hits Ted and Bel-Air. Corus' unscripted and reality networks will see the return of The Curse of Oak Island, Top Chef Canada, Gordon Ramsay's Kitchen Nightmares, and Corus Original series House of Ali and Rock Solid Builds, alongside new series Life is Messy, WWII with Tom Hanks, Tiffany Haddish Goes Off and Corus Original series Building Baeumler, Halloween Bakeshop and Holiday Bakeshop. Corus' full 2025/2026 Specialty schedule will be available to stream on STACKTV. (1) Numeris Personal People Meter ("PPM") Data, Total Canada, Conventional Spring'25 (January 6, 2025 – June 1, 2025), Fall'24 (September 16, 2024 – December 22, 2024) – confirmed data, Core primetime: Monday-Sunday 8pm-11pm, Local time, Average Minute Audience ("AMA") (000), Adults aged 18+, Canadian Conventional Commercial English National Networks. (2) Amazon Video Central (STACKTV)/Adobe Analytics (Global TV App), January 2025 to May 2025 monthly average vs. January 2024 to May 2024 monthly average (3) Numeris Personal People Meter Data. Total Canada, Spring 2025 (January 6 – June 1, 2025) – confirmed to May 25, 2025, Adults aged 25-54, Average Minute Audience (000's), Canadian Conventional Commercial English, all stations based on 'Total' except for CTV Com, 3+ airings, excludes NHL and NFL Playoffs Financial Highlights Free cash flow (1) of a negative $32.5 million in Q3 and positive $3.3 million year-to-date compared to $18.4 million in Q3 and $75.0 million year-to-date, respectively, in the same comparable prior year periods. The decrease in free cash flow (1) for the third quarter is mainly attributable to lower cash provided by operating activities. The decrease for the year-to-date is mainly attributable to lower cash provided by operating activities, offset by higher proceeds from sale of property. Net debt to segment profit (1) was 5.39 times as at May 31, 2025, up from 3.84 times at August 31, 2024, as a result of the decrease in segment profit. On March 21, 2025, Corus completed an assignment of all the indebtedness and obligations under its Seventh Amended and Restated Credit Agreement dated October 24, 2024 to existing Canadian strategic debtholders. The Company also completed an agreement to amend and restate the Credit Facility, which now matures on March 20, 2027. A copy of the updated Credit Facility is available under the Company's profile on SEDAR+ at As of May 31, 2025, the Company had $81.9 million of cash and cash equivalents and $45.0 million available to be drawn under its Revolving Facility. (1) Free cash flow, segment profit and net debt to segment profit do not have standardized meanings prescribed by IFRS. The Company reports on these because they are key measures used to evaluate performance. For definitions and explanations, see the discussion under the Key Performance Indicators and Non-GAAP Financial Measures section of the Third Quarter 2025 Report to Shareholders and/or Management's Discussion and Analysis in the Company's Annual Report for the year ended August 31, 2024 ("2024 MD&A"). Corus Entertainment Inc. reports its financial results in Canadian dollars. The unaudited interim condensed consolidated financial statements and accompanying notes for the three and nine months ended May 31, 2025 and Management's Discussion and Analysis are available on the Company's website at in the Investor Relations section and under the Company's SEDAR+ profile at A conference call with Corus senior management is scheduled for June 26, 2025 at 8:00 a.m. ET. While this call is directed at analysts and investors, members of the media are welcome to listen in. To instantly join the conference call by phone, please use the following URL to easily register and be connected to the conference call automatically: You can also dial direct to be entered into the call by an Operator. The dial-in number for the conference call for local and international callers is 1.416.945.7677 and for North America is 1.888.699.1199. This call will be archived and available for replay in the Investor Relations section of the Corus website beginning June 26, 2025, at 11 a.m. ET or accessible by telephone until July 3, 2025, at 1.888.660.6345 (toll-free North America) or 289.819.1450 (local or international), using replay code 85170#. More information can be found on the Corus Entertainment website at in the Investor Relations section. Risks and Uncertainties Significant risks and uncertainties affecting the Company and its business are discussed under the heading "Risks and Uncertainties" and "Seasonal Fluctuations" in the 2024 MD&A, as well as in the accompanying quarterly MD&A included in the Third Quarter 2025 Report to Shareholders under the heading "Risks and Uncertainties". These discussions are important to understanding the assumptions and factors which may affect the Company's outlook and results and are incorporated by reference. Outlook In the fourth quarter, we expect geopolitical and economic uncertainty and the ongoing over-supply of premium digital video inventory from foreign competitors will contribute to continued lower demand for linear advertising. As such, the year-over-year percentage decline in Television advertising revenue in the fourth quarter of fiscal 2025 is expected to be in the 20 percent range. Amortization of TV program rights is expected to be relatively flat in the quarter compared to the prior year. The Company will continue with its implementation of additional cost reduction initiatives and expects general and administrative expenses to decline in the range of 10 to 15% for the fourth quarter versus the prior year, excluding any potential benefit from the Independent Local News Fund. Use of Non-GAAP Financial Measures This press release includes the non-GAAP or non-IFRS financial measures of segment profit (loss), segment profit margin, free cash flow, adjusted net income attributable to shareholders, adjusted basic earnings per share, net debt to segment profit, as well as supplementary financial measures not presented in the financial statements such as new platform revenue. Non-GAAP or non IFRS measures that are not in accordance with, nor an alternate to, generally accepted accounting principles ("GAAP") and may be different from non-GAAP or non-IFRS measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS. They are limited in value because they exclude charges that have a material effect on the Company's reported results and, therefore, should not be relied upon as the sole financial measures to evaluate the Company's financial results. The non GAAP financial measures are meant to supplement, and to be viewed in conjunction with, IFRS financial results. A reconciliation of the Company's non-GAAP measures is included in the Company's most recent Report to Shareholders for the three and nine months ended May 31, 2025, which is available on Corus' website at as well as on SEDAR+ at Caution Concerning Forward-Looking Information This press release contains forward-looking information and should be read subject to the following cautionary language: To the extent any statements made in this document contain information that is not historical, these statements are forward-looking statements and may be forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking information"). This forward-looking information relates to, among other things, the Company's objectives, goals, strategies, targets, intentions, plans, estimates and outlook, including the adoption and anticipated impact of the Company's strategic plan, advertising and expectations of advertising trends for fiscal 2025, subscriber revenue and anticipated subscription trends, distribution, production and other revenue, the Company's dividend policy and the payment of future dividends; the Company's leverage target; the Company's ability to manage retention and reputation risks related to its on air talent; expectations regarding financial performance, including capital allocation strategy and capital structure management, operating costs and tariffs, taxes and fees, and can generally be identified by the use of words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" or the negatives of these terms and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances may be considered forward-looking information. Although Corus believes that the expectations reflected in such forward-looking information are reasonable, such information involves assumptions, risks and uncertainties and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied with respect to the forward-looking information, including without limitation, factors and assumptions regarding the Company's ability to maintain necessary access to loan and credit facilities, the general market conditions and general outlook for the industry including: the impact of recessionary conditions and continuing supply chain constraints; the potential impact of new competition and industry mergers and acquisitions; changes to applicable tax, licensing and regulatory regimes; inflation and interest rates, stability of the advertising, subscription, production and distribution markets; changes to key suppliers or clients; operating and capital costs and tariffs, taxes and fees, the Company's ability to source, produce or sell desirable content and the Company's capital and operating results being consistent with its expectations. Actual results may differ materially from those expressed or implied in such information. Important factors that could cause actual results to differ materially from these expectations include, among other things: the Company's ability to maintain necessary access to loan and credit facilities, the Company's ability to attract, retain and manage fluctuations in advertising revenue; the impact of imposed and threatened tariffs, including trade disruptions, restrictions on cross-border supply chains, shifting policies, uncertainty, timing and the resolution thereof; the Company's ability to maintain relationships with key suppliers and clients and on anticipated financial terms and conditions; audience acceptance of the Company's television programs and cable networks including new, re-branded or re-programmed channels; the Company's ability to manage retention and reputation risks related to its on-air talent; the Company's ability to recoup production costs; the availability of tax credits; the availability of expected news, production and related credits, programs and funding; the existence of co-production treaties; the Company's ability to compete in any of the industries in which it does business including with competitors which may not be regulated in the same way or to the same degree; the business and strategic opportunities (or lack thereof) that may be presented to and pursued by the Company; conditions in the entertainment, information and communications industries and technological developments therein; changes in laws or regulations or the interpretation or application of those laws and regulations including statements, decisions or positions by applicable regulators including, without limitation, the Canadian Radio-television and Telecommunications Commission ("CRTC"), Canadian Heritage and Innovation, Science and Economic Development Canada ("ISED"); changes to licensing status or conditions; unanticipated or un mitigatable programming costs; the Company's ability to integrate and realize anticipated benefits from its acquisitions and to effectively manage its growth; the Company's ability to successfully defend itself against litigation matters and complaints; failure to renegotiate, obtain relief from or meet covenants under the Company's senior credit facility, senior unsecured notes or other instruments or facilities; epidemics, pandemics or other public health and safety crises in Canada and globally; physical and operational changes to the Company's key facilities and infrastructure; labour disruption and work stoppages; cybersecurity threats or incidents to the Company or its key suppliers and vendors; and changes in accounting standards. Additional information about these factors and about the material assumptions underlying any forward-looking information may be found under the heading "Risks and Uncertainties" in the Company's Management's Discussion and Analysis for the year ended August 31, 2024 (the "2024 MD&A") and under the heading "Risk Factors" in the Company's Annual Information Form for the year ended August 31, 2024 (the "AIF"). Corus cautions that the foregoing list of important assumptions and factors that may affect future results is not exhaustive. When relying on the Company's forward looking information to make decisions with respect to Corus, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise specified, all forward-looking information in this document speaks as of the date of this document and may be updated or amended from time to time. Except as otherwise required by applicable securities laws, Corus disclaims any intention or obligation to publicly update or revise any forward-looking information whether as a result of new information, events or circumstances that arise after the date thereof or otherwise. Corus Entertainment Inc. (TSX: CJR.B) is a leading media and content company that develops, delivers and distributes high quality brands and content across platforms for audiences around the world. Engaging audiences since 1999, the company's portfolio of multimedia offerings encompass 30 specialty television services, 36 radio stations, 15 conventional television stations, digital and streaming platforms, and social digital agency and media services. Corus' roster of premium brands includes Global Television, W Network, Flavour Network, Home Network, The HISTORY ® Channel, Showcase, Slice, Adult Swim, National Geographic and Global News, along with streaming platforms STACKTV, TELETOON+, the Global TV App and Curiouscast. For more information visit (unaudited - in thousands of Canadian dollars) As at May 31, As at August 31, 2025 2024 ASSETS Current Cash and cash equivalents 81,862 82,422 Accounts receivable 259,559 232,040 Income taxes recoverable — 25,006 Prepaid expenses and other assets 19,814 17,857 Total current assets 361,235 357,325 Tax credits receivable 28,696 19,756 Investments and other assets 39,645 57,325 Property, plant and equipment, net 233,485 250,810 Program rights 654,694 494,022 Film investments 37,714 55,312 Intangible assets 343,718 252,358 Total assets 1,699,187 1,486,908 LIABILITIES AND DEFICIT Current Accounts payable and accrued liabilities 471,417 488,098 Current portion of long-term debt — 9,903 Provisions 20,880 25,467 Income taxes payable 3,004 — Total current liabilities 495,301 523,468 Long-term debt 1,079,576 1,042,931 Other long-term liabilities 464,997 197,499 Provisions 8,922 10,697 Deferred income tax liabilities 51,059 54,041 Total liabilities 2,099,855 1,828,636 DEFICIT Share capital 281,052 281,052 Contributed surplus 2,102,619 2,013,797 Accumulated deficit (2,842,962) (2,784,729) Accumulated other comprehensive income 20,214 24,481 Total deficit attributable to shareholders (439,077) (465,399) Equity attributable to non-controlling interests 38,409 123,671 Total deficit (400,668) (341,728) Total liabilities and deficit 1,699,187 1,486,908 CORUS ENTERTAINMENT INC. INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS Three months ended Nine months ended May 31, May 31, (unaudited - in thousands of Canadian dollars except per share amounts) 2025 2024 2025 2024 Revenues 297,806 331,804 895,330 1,001,245 Direct cost of sales, general and administrative expenses 236,199 264,269 731,997 760,116 Depreciation and amortization 22,602 27,397 67,747 87,565 Interest expense 36,762 26,004 92,880 83,165 Goodwill, broadcast licence and other asset impairment — 960,000 — 960,000 Debt refinancing 2,956 — 7,333 753 Restructuring and other costs 25,282 10,893 54,397 26,961 Other expense (income), net (28,029) 452 (24,319) 135 Income (loss) before income taxes 2,034 (957,211) (34,705) (917,450) Income tax expense (recovery) 7,881 (184,109) 11,084 (173,670) Net loss for the period (5,847) (773,102) (45,789) (743,780) Other comprehensive loss, net of income taxes Items that may be reclassified subsequently to loss: Unrealized change in fair value of cash flow hedges 3,750 65 1,588 (2,779) Unrealized foreign currency translation adjustment (1,221) 84 337 316 2,529 149 1,925 (2,463) Items that will not be reclassified to loss: Unrealized change in fair value of financial assets (1,856) 254 (6,192) (6,204) Actuarial loss on post-retirement benefit plans (5,497) (1,426) (6,925) (3,856) (7,353) (1,172) (13,117) (10,060) Other comprehensive loss, net of income taxes (4,824) (1,023) (11,192) (12,523) Comprehensive loss for the period (10,671) (774,125) (56,981) (756,303) Net loss attributable to: Shareholders (7,336) (769,897) (51,308) (746,966) Non-controlling interests 1,489 (3,205) 5,519 3,186 (5,847) (773,102) (45,789) (743,780) Comprehensive loss attributable to: Shareholders (12,160) (770,920) (62,500) (759,489) Non-controlling interests 1,489 (3,205) 5,519 3,186 (10,671) (774,125) (56,981) (756,303) Loss per share attributable to shareholders: ($0.04) ($3.86) ($0.26) ($3.74) Basic and diluted CORUS ENTERTAINMENT INC. INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) (unaudited - in thousands of Canadian dollars) Share capital Contributed surplus Accumulated deficit Accumulated other comprehensive income Total deficit attributable to shareholders Equity attributable to non- controlling interests Total deficit As at August 31, 2024 281,052 2,013,797 (2,784,729) 24,481 (465,399) 123,671 (341,728) Comprehensive income (loss) — — (51,308) (11,192) (62,500) 5,519 (56,981) Dividends declared — — — — — (2,050) (2,050) Purchase of minority interest — 88,731 — — 88,731 (88,731) — Actuarial loss on post-retirement benefit plans — — (6,925) 6,925 — — — Share-based compensation expense — 91 — — 91 — 91 As at May 31, 2025 281,052 2,102,619 (2,842,962) 20,214 (439,077) 38,409 (400,668) (unaudited - in thousands of Canadian dollars) Share capital Contributed surplus Accumulated deficit Accumulated other comprehensive income Total equity (deficit) attributable to shareholders Equity attributable to non- controlling interests Total equity (deficit) As at August 31, 2023 281,052 2,012,936 (2,014,077) 37,841 317,752 141,248 459,000 Comprehensive income (loss) — — (746,966) (12,523) (759,489) 3,186 (756,303) Dividends declared — — — — — (10,073) (10,073) Change in fair value of put option liability — — 854 — 854 (5,146) (4,292) Actuarial loss on post-retirement benefit plans — — (3,856) 3,856 — — — Share-based compensation expense — 573 — — 573 — 573 As at May 31, 2024 281,052 2,013,509 (2,764,045) 29,174 (440,310) 129,215 (311,095) CORUS ENTERTAINMENT INC. INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three months ended Nine months ended May 31, May 31, (unaudited - in thousands of Canadian dollars) 2025 2024 2025 2024 OPERATING ACTIVITIES Net loss for the period (5,847) (773,102) (45,789) (743,780) Adjustments to reconcile net loss to cash flow from operations: Amortization of program rights 131,072 135,027 390,361 374,395 Amortization (recovery) of film investments (2,184) 6,890 2,397 14,211 Depreciation and amortization 22,602 27,397 67,747 87,565 Deferred income tax recovery (1,005) (186,302) (2,600) (189,425) Goodwill, broadcast licence and other asset impairment — 960,000 — 960,000 Write-off of intangible assets — — 4,070 — Loss (gain) on sale of assets 2 15 (9,657) (987) Share-based compensation expense 17 162 91 573 Imputed interest 15,135 9,854 37,509 33,275 Debt refinancing 2,956 — 7,333 753 Payment of program rights (153,689) (149,981) (408,413) (416,163) Net spend on film investments (1,686) (11,484) (12,136) (21,627) Other (1) 238 705 458 Cash flow from operations 7,372 18,714 31,618 99,248 Net change in non-cash working capital balances related to operations (36,349) 4,217 (30,336) (14,432) Cash provided by (used in) operating activities (28,977) 22,931 1,282 84,816 INVESTING ACTIVITIES Additions to property, plant and equipment (2,872) (4,328) (6,884) (11,931) Proceeds from sale of property 3 37 10,098 2,261 Net cash flows for intangibles, investments and other assets (680) (200) (1,154) (482) Cash provided by (used in) investing activities (3,549) (4,491) 2,060 (10,152) FINANCING ACTIVITIES Increase (decrease) in credit facility borrowings 30,000 (4,583) 18,435 (36,069) Financing fees (94) — (1,344) (619) Payment of lease liabilities (4,773) (4,661) (14,017) (13,612) Dividends paid to non-controlling interests (1,050) (2,403) (2,050) (10,073) Other (1,382) (1,090) (4,926) (3,246) Cash provided by (used in) financing activities 22,701 (12,737) (3,902) (63,619) Net change in cash and cash equivalents during the period (9,825) 5,703 (560) 11,045 Cash and cash equivalents, beginning of the period 91,687 61,505 82,422 56,163 Cash and cash equivalents, end of the period 81,862 67,208 81,862 67,208 CORUS ENTERTAINMENT INC. BUSINESS SEGMENT INFORMATION (unaudited - in thousands of Canadian dollars) Three months ended May 31, 2025 Television Radio Corporate Consolidated Revenues 274,522 23,284 — 297,806 Direct cost of sales, general and administrative expenses 211,855 18,212 6,132 236,199 Segment profit (loss) (1) 62,667 5,072 (6,132) 61,607 Depreciation and amortization 22,602 Interest expense 36,762 Debt refinancing 2,956 Restructuring and other costs 25,282 Other income, net (28,029) Income before income taxes 2,034 Three months ended May 31, 2024 Television Radio Corporate Consolidated Revenues 308,198 23,606 — 331,804 Direct cost of sales, general and administrative expenses 239,786 20,973 3,510 264,269 Segment profit (loss) (1) 68,412 2,633 (3,510) 67,535 Depreciation and amortization 27,397 Interest expense 26,004 Goodwill, broadcast licence and other asset impairment 960,000 Restructuring and other costs 10,893 Other expense, net 452 Loss before income taxes (957,211) Nine months ended May 31, 2025 Television Radio Corporate Consolidated Revenues 829,959 65,371 — 895,330 Direct cost of sales, general and administrative expenses 658,716 54,993 18,288 731,997 Segment profit (loss) (1) 171,243 10,378 (18,288) 163,333 Depreciation and amortization 67,747 Interest expense 92,880 Debt refinancing 7,333 Restructuring and other costs 54,397 Other income, net (24,319) Loss before income taxes (34,705) Nine months ended May 31, 2024 Television Radio Corporate Consolidated Revenues 928,690 72,555 — 1,001,245 Direct cost of sales, general and administrative expenses 679,617 64,520 15,979 760,116 Segment profit (loss) (1) 249,073 8,035 (15,979) 241,129 Depreciation and amortization 87,565 Interest expense 83,165 Goodwill, broadcast licence and other asset impairment 960,000 Debt refinancing 753 Restructuring and other costs 26,961 Other expense, net 135 Loss before income taxes (917,450) (1) Segment profit (loss) does not have a standardized meaning prescribed by IFRS. For definitions and explanations, see discussion under the Key Performance Indicators and Non-GAAP Financial Measures section of the Third Quarter 2025 Report to Shareholders. REVENUE BY TYPE NON-GAAP FINANCIAL MEASURES Three months ended Nine months ended (unaudited - in thousands of Canadian dollars, except percentages) May 31, % May 31, % New platform revenue 2025 2024 Change 2025 2024 Change New platform revenue (numerator) 32,394 34,972 (7 %) 97,618 105,855 (8 %) Television advertising revenue 150,933 178,182 (15 %) 457,161 536,457 (15 %) Television subscriber revenue 111,092 116,914 (5 %) 338,670 352,449 (4 %) Total Television advertising and subscriber revenue (denominator) 262,025 295,096 (11 %) 795,831 888,906 (10 %) New platform revenue percentage 12 % 12 % 12 % 12 % Three months ended Nine months ended (unaudited - in thousands of Canadian dollars, except per share amounts) May 31, May 31, Adjusted Net Income Attributable to Shareholders 2025 2024 2025 2024 Net loss attributable to shareholders (7,336) (769,897) (51,308) (746,966) Adjustments, net of income tax: Goodwill, broadcast licence and other asset impairment — 742,016 — 742,016 Debt refinancing 2,177 — 5,400 555 Restructuring and other costs 17,805 8,008 41,208 19,825 Write-off of intangible assets — — 2,991 — Adjusted net income (loss) attributable to shareholders 12,646 (19,873) (1,709) 15,430 Basic loss per share ($0.04) ($3.86) ($0.26) ($3.74) Adjustments, net of income tax: Goodwill, broadcast licence and other asset impairment — $3.72 — $3.72 Debt refinancing $0.01 — $0.03 — Restructuring and other costs $0.09 $0.04 $0.20 $0.10 Write-off of intangible assets — — $0.02 — Adjusted basic earnings (loss) per share $0.06 ($0.10) ($0.01) $0.08 Three months ended Nine months ended (unaudited - in thousands of Canadian dollars) May 31, May 31, Free Cash Flow 2025 2024 2025 2024 Cash provided by (used in): Operating activities (28,977) 22,931 1,282 84,816 Investing activities (3,549) (4,491) 2,060 (10,152) Add: cash used in business acquisitions and strategic investments (1) (32,526) 18,440 3,342 74,664 — — — 346 Free cash flow (32,526) 18,440 3,342 75,010 (1) Strategic investments are comprised of investments in venture funds and associated companies. (unaudited - in thousands of Canadian dollars) As at May 31, As at August 31, Net Debt and Net Debt to Segment Profit 2025 2024 Total debt, net of unamortized financing fees and prepayment options 1,079,576 1,052,834 Lease liabilities 110,343 116,834 Cash and cash equivalents (81,862) (82,422) Net debt (numerator) 1,108,057 1,087,246 Segment profit (denominator) (1) 205,633 283,429 Net debt to segment profit 5.39 3.84 (1) Reflects aggregate amounts for the most recent four quarters, as detailed in the table in the Quarterly Consolidated Financial Information section of the Third Quarter 2025 Report to Shareholders. SOURCE Corus Entertainment Inc (IR Group)
Business Wire
4 days ago
- Business
- Business Wire
TITAN Group was Recognized as one of the World's Most Sustainable Companies by TIME magazine for the Second Consecutive Year
TITAN Group (Brussels:TITC) has been named by TIME magazine as one of the world's most sustainable companies for the second consecutive year, rising 158 positions to reach the 150th position in the 2025 ranking of 500 companies. Notably, TITAN stands out as the highest-ranked company among the very few building materials companies to make the list, reinforcing its leadership and commitment to sustainability on a global scale. Leonidas Canellopoulos, Chief Innovation and Sustainability Officer of TITAN Group, said: "Being named one of the world's most sustainable companies by TIME for the second year in a row is a powerful endorsement of our growth strategy in action. Sustainability is woven into every decision we make - from bold innovation in new products and decarbonized processes to transparent execution. Guided by our purpose to make the world around us a safe, sustainable, and enjoyable place to live, we are accelerating our progress and actively contributing to a more innovative and sustainable industry." TITAN has set science-based targets aligned with the 1.5°C climate scenario and was recognized as a climate leader by both the CDP (formerly Carbon Disclosure Project) and the Financial Times. The company continues to make strong progress towards its CO₂ reduction goals and broader ESG targets for 2025 and beyond. Its adherence to the UN Global Compact and participation in the UNFCCC Race to Zero also played a significant role, as did TITAN's strong commitment to sustainability and long-term value creation for customers, local communities, employees, and other stakeholders across all its regions. TIME and data firm Statista have developed a rigorous methodology to measure the world's most sustainable companies for 2025. Their sustainability evaluation assessed companies based on external ratings, commitments, and various environmental and social Key Performance Indicators (KPIs) disclosed in externally assured reports, in compliance with the CSRD and international reporting standards such as GRI, SASB, and TCFD. These KPIs include emission intensity, emission reduction rates, energy intensity, the proportion of renewable energy used, diversity on boards and in leadership, gender pay gap, work safety, and employee turnover rate. The final list features the 500 highest-performing companies across 35 countries and 21 industries. You may view the full 2025 ranking by TIME magazine here: TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs more than 6,000 people and is present in over 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With a 120-year history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The parent company is listed on Euronext and the Athens Exchange. For more information, visit our website at
HKFP
21-06-2025
- Politics
- HKFP
Hong Kong gov't needs bold action to introduce senior civil servant accountability system
Chief Executive John Lee revealed in an interview on June 13 that he was studying the possibility of a 'senior civil servant accountability system' for Hong Kong. The purpose would be to 'strengthen leadership' of government departments to solve long-standing problems. The first priority, he said, was to establish responsibility for the problems. These are the sorts of problems highlighted in Ombudsman and Audit reports, often involving weak coordination across departments and failure to implement policy. Lee is saying to department heads, If you see a problem, take the initiative and fix it. This is a welcome development. We have seen too often that department heads fail to address cross-department problems. For example, the initial lack of coordination during the Covid-19 pandemic between the Social Welfare Department and the Department of Health to vaccinate the elderly in care homes. This failure had lethal consequences. The chief executive is considering laying an additional bureaucratic accountability system on top of existing systems. We have many systems. First, authorities carry out annual reviews of all civil servants' performance, including those at the top. The reviews consider civil servants' leadership potential. Officials place those with potential in 'acting' positions to assess their performance on the job. In theory, good performers (problem solvers) would receive more permanent appointments. The chief executive is telling us that these systems are inadequate for the job. I agree. Second, annual budget estimates include targets for specific departments, the extent to which they were achieved and targets going forward. Many of the targets appear to be easily reached. For example, the Buildings Department's target of 'responding to emergencies during office hours within 1.5 hours in urban areas' was set at 100 per cent. The target was fully achieved in 2022, while in 2023, it was 99.8 per cent. Moreover, the targets appear to be for items that are entirely within the control of a single department. Yet the issues the chief executive has identified as persistent, serious problems are mostly cross-departmental problems. Authorities need a new way of setting targets that focus on these problems. Third, annual policy addresses now also include Key Performance Indicators (KPIs). The government's KPIs are often written in general language, for example, to start such and such an activity within the X quarter of year Y. Or, explore such and such an activity within year Y. Generally, authorities assign KPIs to bureaus, not to departments. Officials leave it to bureau secretaries to sort out which department or departments are responsible. The chief executive is now telling us that bureau secretaries have difficulty encouraging those responsible to take the initiative to fix 'persistent, serious problems.' Indeed, those responsible may be beyond the bureau secretary's reach. Do department heads or team leaders in departments have the authority to replace team members? Can they reaching down into their own department, or into other departments to find those motivated with the necessary expertise? These issues run up against the siloed nature of the civil service, divided by departments and grades. They also confront the permanent nature of civil service employment. Once passed probation, civil servants are employed until retirement unless they commit some egregious error. Very few do and are dismissed. A bold reform, then, would be to abolish permanent positions in the government, making civil service employment more like employment in the private sector. Many countries have done this. Alternatively, the government could employ senior civil servants only on say three- to five-year contracts. This would align with the contract employment system for political appointees, who serve for the duration of a chief executive's tenure. It could allow the chief executive to achieve his objective of integrating the political appointee and civil service responsibility systems. A further reform would allow political appointees to select senior civil servants. Currently, bureau heads have little say in the selection of permanent secretaries in their bureaus or the selection of department heads. Giving politically appointed principal officials this selection authority could help align the goals of the chief executive and the government. In his remarks, the chief executive suggested he was studying many ways to punish civil servants. He suggested pay freezes, denying them an annual increase in their salary. Focusing only on punishment fosters a culture of risk aversion. Yet, it is a culture of caution that is fearful of making mistakes that the CE is trying to change. The chief executive may also examine the reward end of the compensation system. Why not a specific chief executive's award for solving long-standing cross-departmental problems? This could be material – say a one-off but substantial boost to relevant departmental budgets – or non-material recognition, also a powerful motivator. Unless the chief executive replaces permanent employment with contracts for at least senior civil servants, any change is likely to be mostly symbolic. By suggesting a new senior civil service accountability system, the chief executive is telling the public, civil servants, and the central government that authorities care about performance. More is required to change the culture and behaviour. The government needs to consider bold action. HKFP is an impartial platform & does not necessarily share the views of opinion writers or advertisers. HKFP presents a diversity of views & regularly invites figures across the political spectrum to write for us. Press freedom is guaranteed under the Basic Law, security law, Bill of Rights and Chinese constitution. Opinion pieces aim to point out errors or defects in the government, law or policies, or aim to suggest ideas or alterations via legal means without an intention of hatred, discontent or hostility against the authorities or other communities.
The Sun
12-06-2025
- Business
- The Sun
M'sian quits after receiving RM85 ‘token of appreciation'
WHILE many teachers quietly endure under appreciation, one international school educator has had enough — after receiving a measly amount as a 'Token of Appreciation'. In a post on Threads, the teacher shared a snapshot of her so-called 'Token of Appreciation' letter from her employer, which awarded her RM85 for exceeding her Key Performance Indicators (KPIs) in 2024. 'Perfect work, always on time, KPI above 90%, but this is what I get? What can you even buy with RM85?' she wrote. The woman who works at an international school said that the amount left her feeling insulted — not rewarded. 'Decision: Resigned. ALSO READ: M'sian employee's hilariously honest resignation goes viral 'Don't let your dignity be dragged down by a company like this,' she declared at the end of her post — a line that's resonating strongly with readers. Her experience struck a nerve with many Malaysians, who jumped into the comments to share similar stories of disappointing recognition at work. 'Been there. Big company, publicly listed on Bursa Malaysia. Even with top-notch KPIs, they only gave an annual increment of RM60,' one user wrote. 'I've experienced the same — even worse, I got just RM50. Hahaha. So I figured, might as well not bother working after that. Started job hunting... then I left,' said another. 'It's kind of funny — working yourself to the bone, exhausted, and all you get is RM85,' added @elena_raisya. READ MORE: M'sians share how traffic jam led to them resigning jobs
