Market Signal Briefing

What you need to know todayOil was slightly higher after plunging more than 11% Tuesday, as traders expect a group of countries to tap emergency crude reserves to mitigate disruption caused by the war in the Middle East. The sharp drop came despite aggressive rhetoric from U.S. President Donald Trump and Defense Secretary Pete Hegseth about attacking Iran, with Hegseth saying Tuesday "will be our most intense day of strikes." 

U.S. crude oil and Brent crude tumbled more than 17% before paring some losses after U.S. Secretary of Energy Chris Wright on Tuesday falsely claimed on X that the U.S. Navy had escorted a tanker through the Strait of Hormuz. The post was subsequently deleted, and confirmed to be wrong by White House press secretary Karoline Leavitt. West Texas Intermediate Crude was last up 0.35% at $83.76 a barrel, while Brent crude was flat at $87.8 a barrel.

U.S. stocks ended the day mixed as traders weighed the pullback in oil prices against the risk of further escalation. Sentiment was also dented by a CBS News report indicating Iran may be moving toward deploying mines in the Strait of Hormuz.

The U.S. Central Command later said American forces on Tuesday sunk several Iranian ships, including 16 minelayers, near the strait, following a post by President Donald Trump that said if Iran had put any mines in the Strait, "we want them removed, IMMEDIATELY!"

Even as the Strait of Hormuz is effectively closed for most of the global oil supply, Iran has sent at least 11.7 million oil barrels to China through the waterway since the war began, according to TankerTrackers. Shipping intelligence data provider Kpler estimates around 12 million barrels of crude oil to have passed through the strait since the war started.

On the artificial intelligence front, Oracle reported an earnings beat and issued strong guidance, boosting its stock as much as 10% higher in extended trading. Investors appeared soothed by the software firm's across-the-board beat, amid fears about the company's hefty debt load funding its AI buildout.

And finally...How the Iran war and rising energy prices are threatening semiconductor demand

A prolonged conflict in the Middle East could impact the semiconductor industry's access to key materials while rising costs could hit demand for chips that have been central to the artificial intelligence boom, analysts warned.

Semiconductor stocks were caught in the sell-off seen in equity markets before President Donald Trump said on Monday that war will end "very soon."

Memory chipmakers SK Hynix and Samsung have been hit particularly badly with more than $200 billion wiped off their combined value since the start of the war, even with both stocks rallying sharply on Tuesday.

— Arjun Kharpal

5.16K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of LNC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

10.01K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Balfour Beatty plc (LSE:BBY) launched a £200 million share buyback and raised its full-year dividend 12% to 14p per share as the construction and infrastructure group reported a fifth consecutive year of earnings growth and an order book swelling to record levels. 

Underlying profit from operations in earnings-based businesses rose 16% to £293 million on revenue up 8% to £10.8 billion, with UK power transmission and US buildings demand the key growth drivers.

UK construction surpassed its 3% margin target a year ahead of schedule, while the support services division delivered a standout performance with profit up 31% to £122 million and an 8.5% margin driven by growth in power transmission projects.

US construction was more mixed, with strong buildings performance offset by cost overruns at a single civils project where the group said it was pursuing recoveries.

The order book swelled 23% to £22.7 billion, including more than £3.5 billion of new UK power generation projects, with a significant further pipeline of UK defence contracts and US building work providing visibility into 2027.

New chief executive Philip Hoare, who joined in September, said the group's capabilities and disciplined approach to risk provided "a powerful foundation for the future," and guided for further profitable growth in both 2026 and 2027.

Ubyx appoints BitGo B&T, N.A. as a settlement agent, expanding regulated digital asset acceptance across global financial institutions

, /PRNewswire/ -- Ubyx Inc., a provider of clearing and acceptance infrastructure for tokenised deposits and regulated stablecoins, today announced a strategic investment from BitGo Ecosystem Holdings LLC ("BitGo Ecosystem Holdings"), an affiliate of BitGo Holdings, Inc. ("BitGo"). Ubyx also announced the appointment of BitGo Bank & Trust, N.A. ("BitGo B&T"), a subsidiary of BitGo and an OCC-regulated trust bank, as a settlement agent within the Ubyx network.

BitGo invests in Ubyx The partnership positions BitGo B&T as a core settlement partner within Ubyx's shared infrastructure for regulated digital assets. BitGo B&T's digital asset infrastructure will deliver institutional-grade custody and settlement services, enabling the secure movement of regulated digital assets between issuers and receiving institutions.

"Regulated digital asset infrastructure requires trusted institutional participants who can operate at the intersection of traditional finance and blockchain technology," said Frank Wang, Head of Fintech at BitGo. "Ubyx is solving a critical structural challenge by enabling multiple issuers and multiple receivers to transact seamlessly while preserving par-value integrity. By joining as a settlement agent and investor, BitGo B&T is supporting the infrastructure necessary for digital assets to scale globally within regulated frameworks."

Tony McLaughlin, CEO of Ubyx, said: "BitGo B&T brings deep institutional custody expertise and regulatory credibility to the Ubyx network at a time when banks and financial institutions are moving from digital money pilots to operational deployment. As an OCC-regulated trust bank and owned by a publicly traded company, BitGo exemplifies the type of institution that can support regulated digital assets at scale. This partnership demonstrates that institutional infrastructure providers recognize the need for shared clearing and acceptance networks as regulated digital assets enter mainstream financial flows."

The Ubyx model separates network coordination from custody and settlement execution. BitGo B&T's status as an OCC-regulated trust bank, combined with BitGo Holdings, Inc.'s position as a publicly listed company, reinforces Ubyx's strategy of anchoring digital asset infrastructure in regulated, systemically credible institutions rather than proprietary or closed ecosystems. This meets the operational, regulatory and governance standards expected by global banks and their supervisors.

The participation of BitGo Ecosystem Holdings as an investor, alongside BitGo B&T's role as an infrastructure and settlement provider, reflects growing institutional recognition that digital money infrastructure must solve the "many-to-many problem". This means connecting multiple issuers with multiple receivers in a neutral, scalable environment that preserves the singleness of money across digital and traditional financial systems.

Disclaimer: Stablecoins are not covered by FDIC or SIPC, or any other governmental or non-governmental insurance programs. Any loss of value or loss of the Stablecoins themselves may not be offset or reimbursed by insurance.

About BitGo

BitGo (NYSE: BTGO) is the digital asset infrastructure company delivering custody, wallets, staking, trading, financing, stablecoins, and settlement services from regulated cold storage. Since 2013, BitGo has focused on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence and multiple regulated entities, including BitGo Bank & Trust, National Association, a federally chartered digital asset bank. Today, BitGo serves thousands of institutions, including many of the industry's top brands, financial institutions, exchanges, and platforms, and millions of clients.

For more information, please visit https://www.bitgo.com

About Ubyx

Ubyx was founded to enable the global acceptance of regulated digital money by connecting multiple issuers with multiple receiving institutions in a shared settlement environment. Ubyx supports the redemption of tokenised deposits and regulated stablecoins at par value and helps preserve the singleness of money across emerging digital financial ecosystems.

For more information, visit https://ubyx.xyz

Media Contacts:

BitGo: [email protected]

Ubyx: [email protected] 

SOURCE Ubyx Inc.

SummaryCompaniesInvestment bank hires contract staff for IPO due diligence in Hong KongVolatile markets hinder permanent hires despite listing surgeTalent shortage, regulatory scrutiny cast shadow on booming IPO marketHONG KONG, March 11 (Reuters) - Morgan Stanley (MS.N), opens new tab has started hiring contract staff in Hong Kong to handle a surge in stock listings, aiming to ​control costs while meeting stronger demand in the Asian financial hub, three sources with direct knowledge of the matter said.

The move, a ‌first for a Wall Street bank in the region, underscores shifting hiring strategies in Hong Kong's ultra-competitive investment banking industry.

The Week in Breakingviews newsletter offers insights and ideas from Reuters' global financial commentary team. Sign up here.

A surge in initial public offerings has pushed up demand for talent but volatile markets make it tough for global dealmakers to make costly permanent hires, the sources said.

"Their (contractors') total package is significantly lower than a banker hired on permanent headcount. Morgan Stanley could spend ​less and take up more deals," one of the people said.

Since late last year, Morgan Stanley's investment banking division has recruited staff on one-year contracts ​to work on due diligence for listing applications, the three sources said.

The IPO transaction support team, formed in the fourth quarter ⁠of 2025, consists of about 10 individuals, one of the sources said.

The team participates in due diligence work for Hong Kong and U.S. IPOs, mainly for Chinese companies, ​including conducting site visits and due diligence meetings, according to the sources.

The sources declined to be named as they are not authorised to speak to media. Morgan Stanley ​declined to comment. The bank's hiring of contract staff in Hong Kong has not been previously reported.

While it is not uncommon for global banks to hire temporary staff for various functions to cope with a sudden surge in demand or to meet regulatory requirements in major hubs, the practice is not commonplace in investment banking, especially in Asia.

War in the Middle East has ​weighed on sentiment, affecting the market debuts of three Chinese companies in Hong Kong this week and clouding the outlook for IPOs after a strong start to the ​year.

Morgan Stanley, ranked No.1 equity capital market (ECM) bookrunner in 2025 with $25.3 billion raised across 132 deals excluding Chinese mainland-listed shares, retained the top spot from a year ago, according to ‌Dealogic.

SWELLING PIPELINE AND ⁠TALENT SHORTAGESome Wall Street banks went on a job-cutting spree a couple of years ago in Hong Kong as a slow recovery in company listings and M&A deals, partly due to an economic downturn and changing regulations in China, forced them to ramp up cost controls.

The banks have been cautious in expanding their investment banking teams in the financial hub since then despite a rebound in deals, as banks remain cautious about the mid- to long-term deals outlook and costs, industry sources say.

Hong ​Kong was the world's top listing venue ​in 2025 with IPO proceeds surging ⁠231% to $37.4 billion and total equity capital market fundraising rose 164% to $103 billion, according to data from the Hong Kong stock exchange.

The pipeline for new deals is strong with 530 main board applications filed as of February 27, exchange data showed.

A swelling pipeline ​and a shortage of talent risks hurting the booming listings business in Hong Kong of investment banks, mainly those from China, ​and tests their ability ⁠to meet new regulatory rules, industry sources and analysts say.

The Hong Kong Securities and Futures Commission last month warned 13 banks over "serious deficiencies" in IPO applications, asking them to conduct a comprehensive review and cap the number of deals a signing principal can work on simultaneously at six.

Morgan Stanley acted as sponsor, which guides an issuer through the ⁠IPO process ​in Hong Kong, in 10 listing applications as of mid-February, among the three global banks that took ​up the most clients in the capacity, data compiled by Reuters show.

Morgan Stanley is also hiring full-time dealmakers to work on market listings, and it has a handful of potential candidates in the pipeline, ​one of the sources said.

Reporting by Selena Li and Kane Wu in Hong Kong; Additional reporting by Yantoultra Ngui in Singapore; Editing by Sumeet Chatterjee and Jacqueline Wong

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Kane Wu covers M&A, private equity, venture capital and investment banks in Asia. She tracks the region's most high-profile deals, fundraisings as well as investment trends amidst geopolitical, macroeconomic and regulatory changes. She was nominated for a SOPA Excellence in Business Reporting award for coverage of China regulatory crackdown in 2021. Prior to Reuters, she worked at the Wall Street Journal and also wrote about Asia's loan market for Thomson Reuters Basis Point. She is based in Hong Kong.

2.07K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in REPYY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

HomeStock IdeasLong IdeasTech 

SummaryCoreWeave delivered $5.1B revenue in 2025, surging 168% YoY, with Q4 revenue of $1.6B and a 57% adjusted EBITDA margin.Contracted backlog expanded to $66.8B, more than quadrupling in one year, supported by take-or-pay contracts providing unusual early-stage revenue visibility.Infrastructure scale is accelerating rapidly, with active power capacity at 850 MW expected to exceed 1.7 GW by 2026.Balance sheet pressure is rising alongside growth, with nearly $30B debt and $388M quarterly interest expense creating execution risk. imaginima/iStock via Getty Images

I believe no serious investor questions whether CoreWeave, Inc.'s (CRWV) demand for GPU capacity will continue to be important as AI adoption accelerates. The question has clearly become whether CoreWeave can achieve profitability ahead of

719 Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of CRWV either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

March 11, 2026 04:23 ET  | Source: LexinFintech Holdings Ltd.

SHENZHEN, China, March 11, 2026 (GLOBE NEWSWIRE) -- LexinFintech Holdings Ltd. (“Lexin” or the “Company”) (NASDAQ: LX), a leading technology-empowered personal financial service enabler in China, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, before the U.S. market opens on Thursday, March 19, 2026.

The Company’s management will host an earnings conference call at 7:00 AM U.S. Eastern time on March 19, 2026 (7:00 PM Beijing/Hong Kong time on March 19, 2026).

Participants who wish to join the conference call should register online at:
https://register-conf.media-server.com/register/BIa035db521c9d4308ac218dd480679390

Once registration is completed, each participant will receive the dial-in number and a unique access PIN for the conference call.

Participants joining the conference call should dial in at least 10 minutes before the scheduled start time.

A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.lexin.com.

About LexinFintech Holdings Ltd.

We are a leading credit technology-empowered personal financial service enabler. Our mission is to use technology and risk management expertise to make financing more accessible for young generation consumers. We strive to achieve this mission by connecting consumers with financial institutions, where we facilitate through a unique model that includes online and offline channels, installment consumption platform, big data and AI driven credit risk management capabilities, as well as smart user and loan management systems. We also empower financial institutions by providing cutting-edge proprietary technology solutions to meet their needs of financial digital transformation.

For more information, please visit http://ir.lexin.com.

For investor and media inquiries, please contact: 

LexinFintech Holdings Ltd.
IR inquiries:
Will Tan
Tel: +86 (755) 3637-8888 ext. 6258
E-mail: [email protected]

Media inquiries:
Ruifeng Xu
Tel: +86 (755) 3637-8888 ext. 6993
E-mail: [email protected]

SOURCE LexinFintech Holdings Ltd.

A person carrying a bag walks by a Zara store in Plaza de Espana in Madrid, Spain, June 11, 2025. REUTERS/Ana Beltran Purchase Licensing Rights, opens new tab

PARIS, March 11 (Reuters) - Zara owner Inditex (ITX.MC), opens new tab, the world's biggest fast fashion ​company, said currency-adjusted sales grew 9% between February ‌1 and March 8, meeting analysts' expectations, and added its sales grew 7% in currency-adjusted terms ​over 2025.

Expectations had been high ahead of ​Wednesday, with analysts estimating growth of anywhere ⁠between 8% and 12% at the start of ​the first quarter.

The Week in Breakingviews newsletter offers insights and ideas from Reuters' global financial commentary team. Sign up here.

However, the result could reassure ​investors that Inditex can keep growing solidly despite fragile demand in its key European and U.S. markets and ​as conflict in the Middle East triggered ​a surge in oil and gas prices, further increasing ‌the ⁠pressure on households.

Sales in the November to January quarter, including the key Black Friday and Christmas shopping season, rose to 11.69 billion ​euros ($13.60 billion) ​up from ⁠11.2 billion euros a year prior.

The pace of Inditex's sales growth cooled since ​a post-pandemic boom, but its profitability has ​improved ⁠as it has closed less successful stores and invested in logistics to get new clothes to ⁠shoppers ​faster.

Chart showing annual sales growth for Inditex from 2019 to 2025($1 = 0.8594 euros)

Reporting by Helen ​Reid; Editing by Tom Hogue and Janane Venkatraman

Our Standards: The Thomson Reuters Trust Principles., opens new tab

London-based reporter covering the European retail sector through a global lens. Focusing on companies including Adidas, H&M, Ikea, and Inditex and analysing corporate strategy, consumer trends, and regulatory changes, Helen also covers major supermarket groups like Ahold Delhaize, Carrefour, and Casino. She has a special interest in sustainability and how investors push for change in companies. Previously based in Johannesburg where she covered the mining industry.

                                     
Regulated information
March 11, 2026 - 7:45 a.m. CET

        Agfa-Gevaert Group in 2025: strong Q4 profitability and free cash flow – good step-up in FY profitability in HealthCare IT and Digital Print & Chemicals

Group performance: Strong Q4 adjusted EBITDA of 39 million euro (+9 million euro versus 2024) thanks to solid performance in Digital Print & Chemicals, stringent cost control and savings from the film restructuring program. Q4 free cash flow of 44 million euro due to continuous focus on working capital improvement, which delivered 42 million euro in cash in Q4.Good step-up in FY profitability in HealthCare IT and Digital Print & Chemicals did not sufficiently offset the 25 million euro decrease in adjusted EBITDA in Radiology Solutions, where the savings program only started to kick in in the second half of 2025. As a result, the Group’s FY adjusted EBITDA decreased from 70 million euro in 2024 to 59 million euro.Positive FY free cash flow of 35 million euro, benefiting from a 36 million euro improvement in working capital, a 38 million euro positive effect from the AgfaPhoto arbitration ruling and a 27 million euro build-down of the customer lease portfolio HealthCare IT: successful transition to cloud/SaaS in core market North America FY 2025 order intake increased by 14% from 165 million euro in 2024 to 187 million euro – FY cloud order intake increased by 38%Cloud technology represents 33% of FY order intake (almost entirely in North America) (Q4: 58%), up from 27% in FY 2024 - Net new customers represent 43% of FY order intake (Q4: 46%), up from 33% in FY 2024FY adjusted EBITDA improved from 32.9 million euro in 2024 to 33.5 million euro Digital Print & Chemicals: step up in revenue and profitability despite unfavorable market conditions – strong year-end FY top line growth of 6.5% (7.6% currency comparable) to 467 million euro, mainly driven by Specialty Films & Chemicals – strong Q4 for Green Hydrogen Solutions and Digital Printing SolutionsAll three businesses contributed to the significant FY adjusted EBITDA improvement from 30.8 million euro to 42.3 million euro Radiology Solutions: continued decline of the medical film markets, particularly in China FY revenue declined by 17.1% (15.6% currency comparable), heavily affecting profitabilitySavings began to materialize in the second half of 2025 and became more pronounced in Q4 Mortsel (Belgium), March 11, 2026 – 7:45 a.m. CET – Agfa-Gevaert today commented on its results in 2025.
“At the end of a very challenging 2025, we delivered a strong fourth quarter. Our HealthCare IT and Digital Print & Chemicals divisions performed exceptionally well, and our decisive cost saving measures paid off. This year confirmed that the strategy we designed for our growth engines is the right one. In HealthCare IT, we accelerated the transition to a cloud‑based subscription model in North America. We are gaining market share, supported by industry‑leading customer satisfaction, as shown by recent KLAS reports. In Digital Printing Solutions, we further extended our already strong portfolio for the sign & display and packaging market segments. We also advanced our Green Hydrogen Solutions business by expanding our global footprint and opening a new ZIRFON membrane facility. At the same time, persistent pressure in medical film markets meant we had to move faster on savings, which directly supported our Q4 performance. These market challenges will continue, and we will navigate them with strict cost and cash discipline as we enter 2026.” Pascal Juéry, President and CEO of the Agfa-Gevaert Group.

Status restructuring plans and reorganization

Agfa is accelerating the plans to optimize the cost base of the traditional film activities. Annualized savings of 36 million euro were realized at year-end 2025.Recently, Agfa reached an agreement with its social partners on additional measures to adjust the cost base of the traditional film activities. The implementation of these measures will run over 2026 and 2027.As from January 1, 2026, a new organizational structure is in place. Agfa will operate and report through 3 business segments: HealthCare IT: will continue to be reported as a standalone segment, led by Nathalie McCaughleyIndustrial Solutions: led by Vincent Wille and will include the following businesses: Digital Printing Solutions – Led by Vincent WilleGreen Hydrogen Solutions – Led by Jorge Tomás Imaging and Chemicals: led by Pascal Juéry and will include the following businesses: Film and Chemicals (Consisting of Medical Film, Specialty Film and Chemicals, Computed Radiography and CONOPS) – Led by Gwendolien FonckDigital Radiology Solutions – Led by François Verdeaux in million euro

Q4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects) FY 2025
FY 2024
% change (excl. FX effects)REVENUE      HealthCare IT6475-15.0% (-10.5%)232242-4.1% (-1.1%)Digital Print & Chemicals1361258.5% (10.8%)4674386.5% (7.6%)Radiology Solutions89106-15.3% (-11.6%)317383-17.1% (-15.6%)Contractor Operations and Services – former Offset1719-12.4% (-12.4%)7075-5.5% (-5.5%)GROUP306325-5.9% (-2.7%)1,0861,138-4.5% (-2.7%)ADJUSTED EBITDA (*)      HealthCare IT17.619.7-10.6%33.532.91.8%Digital Print & Chemicals21.09.3125.6%42.330.837.5%Radiology Solutions4.55.9-24.4%(9.1)15.9-157.1%Contractor Operations and Services – former Offset(1.7)0.4-494.5%4.75.7-17.2%Unallocated(2.5)(4.8)48.9%(12.3)(15.5)20.6%GROUP 393027.9%5970-14.9% (*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’ (EBIT)/EBITDA

Definitions of non-IFRS financial measures (APMs): see page 10.
The consolidated statements are included at the end of this press release. They are an integral part of this document.

Agfa-Gevaert Group

in million euroQ4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects) FY 2025
FY 2024
% change (excl. FX effects)Revenue306325-5.9% (-2.7%)1,0861,138-4.5% (-2.7%)Gross profit (*)101102-1.0%331354-6.7%% of revenue33.1%31.4% 30.4%31.2% Adjusted EBITDA (**)393027.9%59        70-14.9%% of revenue12.7%9.3% 5.5%6.1% Adjusted EBIT (**)292047.3%2327-14.2%% of revenue9.5%6.1% 2.1%2.4% Net result(62)(63) (71)(92)  (*)         before adjustments and restructuring expenses
(**)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA

Full year

Excluding currency effects, Agfa’s top line decreased by 2.7%. The HealthCare IT division is successfully transitioning to cloud-enabled Enterprise Imaging. As expected, this transition has a temporary effect on the division’s top and bottom line. Within the Digital Print and Chemicals division, the Specialty Films & Chemicals activities and Green Hydrogen Solutions growth engine posted revenue growth, with a notably good performance of the latter in Q4. Digital Printing Solutions saw the effects of the slow investment climate. The accelerating decline in medical film substantially impacted Agfa’s top line performance.Mostly due to the decline in the Radiology Solutions division, the Group’s gross profit margin decreased to 30.4% of revenue.Due to strict cost control, operating expenses decreased from 327 million euro in 2024 to 307 million euro.Adjusted EBITDA amounted to 59 million euro (5.5% of revenue). Profitability was mainly impacted by sales mix effects, the effects of the market decline for the medical film activities and by the situation on the raw material markets. In Q4, adjusted EBITDA was up by 27.9% versus Q4 2024 due to the solid performance of Digital Print and Chemicals and short-term savings measures.Adjustments and restructuring expenses resulted in a cost of 58 million euro (75 million euro in 2024). Restructuring expenses are mainly related to the program to optimize the cost base of the traditional film activities. The adjustments mainly related to an income of the AgfaPhoto case of 38 million euro, counterbalanced by an impairment loss of 28 million euro and a mix of smaller adjustments.Positively impacted by a 7 million euro income related to the AgfaPhoto case, net finance costs amounted to 21 million euro, versus 27 million euro in 2024.Income tax expenses amounted to 7 million euro, versus 15 million euro in 2024.The Agfa-Gevaert Group posted a net result of minus 71 million euro. Financial position and cash flow

Working capital evolved from 29% of revenue in Q4 2024 to 26% in Q4 2025. In absolute numbers, working capital decreased from 335 million euro to 285 million euro.The Group booked a positive free cash flow of 35 million euro in 2025, mainly due to a 36 million euro improvement in working capital, a 38 million euro cash-in from the AgfaPhoto arbitration and a 27 million euro build-down of the customer lease portfolio.Net financial debt (excluding IFRS 16) evolved from 37 million euro in Q4 2024 to 21 million euro. Net pension debt evolved from 405 million euro at the end of 2024 to 343 million euro at the end of 2025. The total debt significantly decreased versus year-end 2024 but remains high.August 1, 2025, a new 3-year revolving credit facility of 180 million euro was signed, maturing August 1, 2028. 100 million euro was drawn at the end of 2025. The following covenants apply for testing at year-end: Liquidity headroom covenant amounted to 157.9 million euro at the end of 2025 (minimum 30 million euro).At year-end, the leverage ratio covenant (net debt/adjusted EBITDA) was 0.5 (maximum 2.75).The interest coverage ratio covenant (adjusted EBITDA/interest expense) was at 11.2 (minimum 5).The adjusted EBITDA covenant (adjusted EBITDA excluding IFRS 16 over the period of the last 12 months - see APM definitions) was 41.8 million euro at the end of 2025 (minimum 30 million euro). Outlook

This outlook is based on the current economic environment. It takes into account the new organizational structure that came into effect on January 1, 2026. Future financial reporting will be based on this structure.

2026 outlook per segment:

HealthCare IT: The transition to cloud/SaaS technology will continue, which will temporarily impact the segment’s financial performance. FY 2026 profitability is expected to be in line with that of FY 2025. Order intake growth momentum is expected to continue in 2026.Industrial Solutions: Top line growth in Digital Printing Solutions is expected to be counterbalanced by the delay in the market evolution for Green Hydrogen Solutions, which is expected to impact the segment’s FY profitability.Imaging and Chemicals: An overall profitability improvement is expected based on the savings programs and the restructuring measures. However, the evolution of demand remains highly uncertain given the ongoing volatility in silver prices. For FY 2026, Agfa expects a negative free cash flow due to the substantial cash outflows related to its transformation and restructuring plans.

HealthCare IT

in million euroQ4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects)FY 2025
FY 2024
% change (excl. FX effects)Revenue6475-15.0% (-10.5%)232242-4.1% (-1.1%)Adjusted EBITDA (*)17.619.7-10.6%33.532.91.8%% of revenue27.6%26.2% 14.5%13.6% Adjusted EBIT (*)15.217.8-14.4%26.025.42.2%% of revenue23.9%23.7% 11.2%10.5%  (*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA

Full year

Building on its success in North America, HealthCare IT maintained the high level of order intake that commenced in the course of 2024. The FY order intake increased by 14% to 187 million euro, versus 165 million euro in 2024. FY cloud order intake increased by 38%. The order intake share of cloud technology keeps growing and is now increasingly impacting the P&L. For Q4 2025, cloud technology stands for 58% of order intake (FY 2025: 33%). Net new customers represent 46% of Q4 2025 order intake (FY: 43%). 41% of Q4 2025 order intake (FY: 50%) was related to project contracts and 59% to recurring revenue contracts (FY: 50%).Recurring revenue grew by 2.1% (5.2% currency comparable) and now amounts to 60% of the total FY revenue. The decrease of the total top line by 4.1% versus 2024 (-1.1% currency comparable) is mainly related to the ongoing transition to cloud technology.Mainly due to positive mix effects, HealthCare IT’s gross profit margin improved from 48.8% in 2024 to 49.5%. The adjusted EBITDA margin evolved from 13.6% to 14.5%.Sustained momentum for Enterprise Imaging Cloud and global expansion: Agfa HealthCare continues to demonstrate strong commercial and operational momentum across its Enterprise Imaging portfolio, driven by increasing adoption of cloud- and SaaS-enabled solutions worldwide while remaining fully adaptive to customer readiness and operating models, including hybrid and on-premises deployments.Enterprise Imaging Cloud adoption is accelerating in North America, with multiple go-lives at leading healthcare organizations. Over the year, Agfa HealthCare also signed new Enterprise Imaging Cloud agreements with major healthcare providers across the United States and Canada, reflecting growing confidence in scalable, managed imaging platforms.Global traction continues to expand through competitive displacements across international markets, with Enterprise Imaging and Enterprise Imaging Cloud wins across health systems and teleradiology providers in the UK and Ireland, Benelux, Eastern Europe, and Latin America reinforcing Agfa HealthCare’s position as a trusted partner for complex, multi-site imaging environments.Industry-leading customer experience has been recognized by KLAS Research. Agfa HealthCare has been acknowledged for significant gains in customer satisfaction, with its Enterprise Imaging VNA and XERO Viewer named Best in KLAS 2025 winners, alongside the Most Improved Software Product award. Building on this momentum, Agfa HealthCare was again named Best in KLAS® 2026 across three Enterprise Imaging segments in the United States - PACS (<300K exams), Universal Viewer, and VNA - underscoring the company’s continued leadership in delivering clinician-first imaging solutions trusted by healthcare organizations worldwide.Leadership in security and compliance also remains strong, with Agfa HealthCare achieving HITRUST CSF (i1) Certification, confirming adherence to the highest standards for information security, data protection, and privacy while maintaining interoperability across enterprise systems. Digital Print & Chemicals

in million euroQ4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects)FY 2025
FY 2024
% change (excl. FX effects)Revenue1361258.5% (10.8%)4674386.5% (7.6%)Adjusted EBITDA (*)21.09.3125.6%42.330.837.5%% of revenue15.5%7.4% 9.1%7.0% Adjusted EBIT (*)15.85.0215.6%23.313.671.2%% of revenue11.6%4.0% 5.0%3.1%  (*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA

Full year
Division performance

The Digital Print & Chemicals division’s top line grew by 6.5% (7.6% currency comparable), mainly driven by the activities in the fields of Specialty Films and Chemicals – partly due to the high silver prices – and Green Hydrogen Solutions. The latter posted a notably strong Q4 top line performance. In Specialty Films and Chemicals, the Printed Circuit Board (PCB) business recorded strong momentum in 2025. Sales in Digital Printing Solutions were influenced by overall market weakness related to economic uncertainty.The division’s gross profit margin evolved from 29.0% of revenue in 2024 to 28.4% of revenue. Unfavorable mix effects were partly counterbalanced by pricing efforts and tight cost control. In Q4, the division achieved a record 30.9% gross profit margin, up from 27.2% in Q4 2024.The division’s FY adjusted EBITDA margin increased from 7.0% in 2024 to 9.1% of revenue. Q4 results benefited from good cost control, improved manufacturing efficiency, product/mix effects in Digital Printing Solutions and the good performance of Green Hydrogen Solutions. Digital Printing Solutions

Equipment sales in North America slowed significantly in the first part of the year, impacting overall growth. Globally, delayed investment decisions by customers mostly affected the high-end of the market. Ink sales growth has slowed to 3.6%. The business’ overall top line decreased by 2.4% versus last year. Following several slow quarters, the sign & display market began to stabilize in Q4 and Agfa’s order book for these solutions is building.In execution of its strategy to focus on larger and faster equipment, Agfa continues to expand and enhance its industry-leading digital printing equipment portfolio in both the sign & display segment and the industrial and packaging segment of the market. In 2025, the following print engines were launched: Anapurna Ciervo H2050 and H2500 - hybrid wide-format printers.Onset Panthera FB3216 - the only true flatbed high-productivity inkjet printer on the market.Jeti Tauro H3300 XUHS - the fastest printer in the Tauro family of hybrid machines.Jeti Bronco H3300 HS - a 7-color versatile hybrid printer equipped with media feed guides to smoothly tackle diverse substrates. Agfa’s SpeedSet Orca solution is now in commercial operation at customer The Delta Group after having successfully completed beta testing. Revenue from the machine was recognized in the division’s results in Q4. SpeedSet Orca is a versatile single-pass water-based digital press that redefines inkjet printing for selected packaging and other applications.The partnership with BHS Corrugated has started with a limited number of orders for print engines for beta customers. Recently, BHS Corrugated received the prestigious FEFCO Gold Award for Best Innovation in Advanced Technology for the Agfa-built BHS Jetliner Monochrome.Agfa’s technology leadership was recognized by prestigious industry organizations: Agfa won three EDP (European Digital Press Association) Product Awards for its new hybrid press, the Jeti Tauro H3300 XUHS. The powerhouse press received top honors in the engine, automation and ink categories, underlining its game-changing potential in high-volume wide-format inkjet printing.Agfa secured three prestigious 2025 Pinnacle Product Awards, presented by PRINTING United Alliance. The award-winning technologies are the Onset Panthera FB3216 true flatbed press, the Onset Panthera Autoloader, and Jeti Tauro MAX BOTS. Green Hydrogen Solutions

In spite of overall market weakness, sales of the ZIRFON membranes for renewable-powered green hydrogen production increased by 3.7% versus 2024. The start of the year was slow, but Q4 was the strongest quarter on record, with a 22.1% top line growth versus the same period in 2024. This growth was mainly based on the increasing momentum in Asia. The business’ profitability improved significantly due to better cost control and increased manufacturing efficiency.In 2025, the market picture continued to be contrasted. Mainly small-scale projects are passing through Final Investment Decision. Western European markets are slow as legislation is still too complex and REDIII (Renewable Energy Directive III) implementation is lagging. The market in the USA was negatively influenced by changes in policy. Asia showed more momentum and an increasing focus on high performing systems (using composite materials like ZIRFON). Consolidation was visible among Western European electrolyzer manufacturers, the first signs of a similar trend are emerging in Asia.ZIRFON is the product of choice for use in alkaline electrolyzers: The membrane is increasingly being evaluated for large scale projects that should materialize in the mid-term, particularly in Europe, Middle East and India.Agfa continues to invest in the development of next gen membranes. In 2025, Agfa and VITO, the Flemish institute for technological research, have formalized a joint commitment to advancing green hydrogen technology. September 29, 2025 Agfa inaugurated its state-of-the-art facility for ZIRFON membranes. With this new production site, the company is ready to meet market demand, confirming its intention to play a defining role in the scale-up of green hydrogen worldwide. The new site delivered the first batches of membranes in Q4, thus significantly increasing Agfa’s manufacturing efficiency in this field.Agfa has met all conditions to receive the subsidy by the European Commission under the Innovation Fund Program under Grant Agreement GA101133022. Radiology Solutions

in million euroQ4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects) FY 2025
FY 2024
% change (excl. FX effects)Revenue89106-15.3% (-11.6%)317383-17.1% (-15.6%)Adjusted EBITDA (*)4.55.9-24.4%(9.1)15.9-157.1%% of revenue5.0%5.6% -2.9%4.1% Adjusted EBIT (*)2.82.2+27.2%(16.5)0.7-2,457.1%% of revenue3.1%2.1% -5.2%0.2%  (*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA

Full year

The Radiology Solutions division’s performance is largely impacted by the continued strong decline of the medical film market, particularly in China. Profitability in this business was impacted by the volume decrease and costs related to the manufacturing footprint. Agfa is accelerating and extending the program to optimize the cost base of the film business. This also includes a go-to-market review. The beneficial effects of the efforts started showing in the Q4 results.Agfa’s Direct Radiography (DR) business recorded a 5.2% year-on-year revenue decline in a market that contracted by 7%. In Q4, the decline narrowed to 3.7% despite a sharper 10% market downturn, reflecting a clear improvement in relative performance. Agfa is currently refining the geographic focus of the DR business and streamlining its product supply strategy to strengthen execution and profitability.Impacted by the strong volume decline, the gross profit margin of the Radiology Solutions division decreased from 27.8% of revenue in 2024 to 24.3%. The adjusted EBITDA margin decreased from 4.1% of revenue in 2024 to minus 2.9%. Contractor Operations and Services – former Offset

in million euroQ4 2025
unauditedQ4 2024
unaudited% change (excl. FX effects)FY 2025
FY 2024
% change (excl. FX effects)Revenue1719-12.4% (-12.4%)7075-5.5% (-5.5%)Adjusted EBITDA (*)(1.7)0.4-494.5%4.75.7-17.2%% of revenue-10.3%2.3% 6.7%7.6% Adjusted EBIT (*)(2.1)(0.2)-1,052.7%2.93.3-11.9%% of revenue-12.7%-1.0% 4.1%4.4%  (*)         Adjusted EBIT/EBITDA with the deduction of adjustments and restructuring expenses reconciles to ‘Results from operating activities’(EBIT)/EBITDA

Early April 2023, the Agfa-Gevaert Group completed the sale of its Offset Solutions division to Aurelius Group. The division contains results related to supply and manufacturing agreements that the Agfa-Gevaert Group signed with its former division, now rebranded as ECO3. Conference call for analysts and investors
Pascal Juéry, CEO of the Agfa-Gevaert Group, and Fiona Lam, CFO, will present the FY 2025 results to analysts and investors at 11:00 a.m. CET on Wednesday, March 11. This presentation can be accessed live upon registration via the agfa.com website and will be available on the website after the event.

Confirmation Information – press release Agfa-Gevaert NV
The statutory auditor, PwC Bedrijfsrevisoren BV/PwC Reviseurs d'Entreprises SRL, represented by Sofie Van Grieken, acting on behalf of Sofie Van Grieken BV, has confirmed that the audit, which is substantially complete, has not to date revealed any material misstatement in the draft consolidated accounts, and that the accounting data reported in this press release is consistent, in all material respects, with the draft consolidated accounts from which it has been derived. The consolidated sustainability data reported in the press release has not been reviewed by the statutory auditor.

Definitions of non-IFRS financial measures (APMs)

Adjusted EBIT: The result from continuing operating activities before restructuring expenses and adjustments.Adjusted EBITDA: The result from continuing operating activities before depreciation, amortization, restructuring expenses and adjustments.EBITDA: The result from continuing operating activities before depreciation and amortization.Gross profit (margin): Gross profit (margin) before adjustments and restructuring expenses.Restructuring expenses: Expenses related to detailed and formal restructuring plans approved by management. Related expenses comprise expenses recognized when accounting for a ‘Provision for restructuring’ but could also comprise other expenses that are directly linked to a formal restructuring plan (e.g. exceptional write-downs on inventories and impairment losses on receivables when specifically linked to / resulting from a decision to restructure).Adjustments: Income and expenses related to activities or events which are not indicative as arising from normal, recurring business operations and are not related to a restructuring plan. These adjustments comprise expenses related to important transformation programs, material changes in the measurement estimates of assets or liabilities related to infrequent events (such as the sale of a building), material gains or losses related to infrequent events or transactions (e.g. mergers and acquisitions) as well as substantial litigations which are not part of the normal recurring business activities. In case the activities or events are not directly linked to a specific segment but are related to Agfa as a Group, the costs are not attributed to the reportable segments.Free Cash Flow: The sum of ‘Net cash from / (used in) operating activities’ and ‘Net cash from / (used in) investing activities excluding the impact of ‘Acquisitions of subsidiaries, net of cash acquired’, ‘Interests received’ and the ‘Net cash from / (used in) operating and investing activities that relates to discontinued operations’.Adjusted Free Cash Flow: Free Cash Flow ‘Adjusted’/ excluded for the impact of: the ‘Cash out for pensions below EBIT’, the ‘Cash out for long-term termination benefits’ and the cash out for ‘Adjustments and restructuring expenses’.Cash out for pensions below EBIT: The sum of Expenses for defined benefit plans & long-term termination benefits (see ‘Consolidated Statement of Cash Flows’) and the cash out for defined benefit plans & long-term termination benefits that are part of the ‘Cash out for employee benefits’ as presented in the Consolidated Statement of Cash Flows.Adjustments and restructuring cash in- and outflows: Cash in- and outflows resulting from income and expenses that are either in the current or previous reporting periods recognized in ‘Adjustments’ or ‘Restructuring expenses’.Working Capital: the sum of Inventories plus trade receivables plus contract assets minus contract liabilities and minus trade payables.Net financial debt incl IFRS 16: the sum of non-current and current liabilities to banks including non-current and current lease liabilities and excluding pension debt, and bank overdrafts minus cash and cash equivalents.Net financial debt excl IFRS 16: the sum of non-current and current liabilities to banks excluding non-current and current lease liabilities and excluding pension debt, including bank overdrafts minus cash and cash equivalents.Net debt: the sum of Net financial debt incl IFRS 16 and the liabilities for post-employment and long-term termination benefit plans - net balance sheet position.Liquidity headroom covenant: cash and cash equivalents plus headroom under the FacilitiesLeverage ratio covenant: Net Financial debt excluding IFRS 16 and excluding pension debt/Adjusted EBITDA excluding IFRS 16 over the period of the last 12 months.Interest cover ratio covenant: Adjusted EBITDA excluding IFRS 16 over the period of the last 12 months/Net interest expenses excluding IFRS 16 over the period of the last 12 months.Adjusted EBITDA covenant: Adjusted EBITDA excluding IFRS 16 over the period of the last 12 monthsOrder intake: The financial value of all new orders accepted by Agfa HealthCare IT during the period, including Licenses, Implementation services, Hardware and/or Cloud computing, but excluding Support/Software Maintenance Agreements.Support/Software Maintenance Agreements (SMA): Service contracts entitling Agfa HealthCare IT Perpetual License customers to software updates and patches as well as service and support. Order Intake is not recorded for SMA contracts.Net new order intake: Order Intake accepted from customers who were not using Agfa HealthCare IT software prior to the order (aka “New Logo” sales). Usually with such an order the customer replaces a system from a competitor with a system from Agfa HealthCare IT.Cloud order intake: Order Intake accepted for deployments of Agfa HealthCare IT’s solution on a Cloud Computing infrastructure instead of the traditional deployment on dedicated Hardware on the customer’s premises (“on Premise”).Recurring order intake: Order Intake for services with a recurring transaction model (Revenue recognition over time as opposed to one-off). Examples include: License Subscriptions, Managed services, Cloud computing services, SaaS contracts).Project order intake: Order Intake for goods and services delivered and revenue recognized at a single point in time. Examples include: Perpetual Licenses, Implementation services, Hardware. Contact:
Viviane Dictus
Director Corporate Communication
Septestraat 27
2640 Mortsel - Belgium
T +32 (0) 3 444 71 24
E [email protected]

The full press release and financial information is also available on the company's website: www.agfa.com.

Consolidated Statement of Profit or Loss (in million euro)

Consolidated figures following IFRS accounting policies.

Continuing operations

Q4 2025
unaudited
Q4 2024
unaudited20252024
Revenue3063251,0861,138Cost of sales(207)(224)(758)(784)Gross profit99101328353Selling expenses(37)(42)(149)(162)Administrative expenses(26)(35)(116)(133)R&D expenses(15)(17)(67)(70)Net impairment loss on trade and other receivables, including contract assets--(2)(1)Other operating income8167648Other operating expenses(77)(67)(105)(83)Results from operating activities(48)(45)(34)(48)Interest income (expense) - net(1)(1)(4)(4)Interest income13711Interest expense(2)(4)(11)(15)Other finance income (expense) - net(7)(5)(18)(22)Other finance income1-82Other finance expense(7)(5)(25)(24)Net finance costs(8)(7)(21)(27)Share of profit of associates – net of tax-(1)-(1)Profit (loss) before income taxes(55)(53)(55)(75)Income tax expenses1(9)(7)(15)Profit (loss) from continuing operations(54)(63)(63)(91)Profit (loss) from discontinued operations, net of tax(8)1(8)(1)Profit (loss) for the period(62)(63)(71)(92)Profit (loss) attributable to:    Owners of the Company(62)(63)(71)(92)Non-controlling interests----     Results from operating activities(48)(45)(34)(48)Adjustments and restructuring expenses(77)(65)(58)(75)Adjusted EBIT29202327     Earnings (loss) per Share Group – continuing operations (euro)(0.35)(0.40)(0.41)(0.59)Earnings (loss) per Share Group – discontinued operations (euro)(0.05)(0.01)(0.05)(0.01)Earnings (loss) per Share Group – total (euro)(0.40)(0.40)(0.46)(0.59) Consolidated Statement of Comprehensive Income for the year ending December 2024 / December 2025 (in million euro)  
Consolidated figures following IFRS accounting policies.

 20252024
Profit / (loss) for the period (71)(92)Profit / (loss) for the period from continuing operations(63)(91)Profit / (loss) for the period from discontinued operations, net of tax(8)(1)Other Comprehensive Income, net of tax  Items that are or may be reclassified subsequently to profit or loss:  Exchange differences:(27)4Exchange differences on translation of foreign operations(27)5Release of exchange differences of discontinued operations to profit or loss-(1)Cash flow hedges: 1(1)Effective portion of changes in fair value of cash flow hedges5-Changes in the fair value of cash flow hedges reclassified to profit or loss(3)(1)Adjustments for amounts transferred to initial carrying amount of hedged items--Income taxes--Items that will not be reclassified subsequently to profit or loss:2817Equity investments at fair value through OCI – change in fair value-(1)Remeasurements of the net defined benefit liability recorded in equity3019Income tax on remeasurements of the net defined benefit liability(2)-Total Other Comprehensive Income for the period, net of tax220Total other comprehensive income for the period from continuing operations221Total other comprehensive income for the period from discontinued operations-(1)   Total Comprehensive Income for the period attributable to(68)(71)Owners of the Company(68)(71)Non-controlling interests--Total comprehensive income for the period from continuing operations attributable to:(60)(70)Owners of the Company(60)(70)Non-controlling interests--Total comprehensive income for the period from discontinued operations attributable to:(8)(2)Owners of the Company(8)(2)Non-controlling interests-- Consolidated Statement of Comprehensive Income for the quarter ending December 2024 / December 2025 (in million euro)  
Consolidated figures following IFRS accounting policies.

 Q4 2025
unauditedQ4 2024
unauditedProfit / (loss) for the period (62)(63)Profit / (loss) for the period from continuing operations(54)(62)Profit / (loss) for the period from discontinued operations, net of tax(8)(1)Other Comprehensive Income, net of tax  Items that are or may be reclassified subsequently to profit or loss:  Exchange differences:314Exchange differences on translation of foreign operations314Release of exchange differences of discontinued operations to profit or loss--Cash flow hedges: (1)(1)Effective portion of changes in fair value of cash flow hedges-(1)Changes in the fair value of cash flow hedges reclassified to profit or loss(2)-Adjustments for amounts transferred to initial carrying amount of hedged items--Income taxes--Items that will not be reclassified subsequently to profit or loss:2818Equity investments at fair value through OCI – change in fair value-(1)Remeasurements of the net defined benefit liability recorded in equity3019Income tax on remeasurements of the net defined benefit liability(2)-Total Other Comprehensive Income for the period, net of tax2931Total other comprehensive income for the period from continuing operations2931Total other comprehensive income for the period from discontinued operations--   Total Comprehensive Income for the period attributable to(33)(32)Owners of the Company(33)(32)Non-controlling interests--Total comprehensive income for the period from continuing operations attributable to:(25)(31)Owners of the Company(25)(31)Non-controlling interests--Total comprehensive income for the period from discontinued operations attributable to:(8)(1)Owners of the Company(8)(1)Non-controlling interests-- Consolidated Statement of Financial Position (in million euro)

Consolidated figures following IFRS accounting policies.

 31/12/2025
31/12/2024Non-current assets557583 Goodwill203217Intangible assets3528Property, plant and equipment85104Right-of-use assets4844Other financial assets33Assets related to post-employment benefits7154Trade receivables32Other tax receivables32Receivables under finance leases4055Other assets14Deferred tax assets6671Current assets719793 Inventories254293Trade receivables169178Contract assets7393Current income tax assets4447Other tax receivables1615Receivables under finance lease2331Other receivables2543Other current assets1515Derivative financial instruments1-Cash and cash equivalents9168Non-current assets held for sale89TOTAL ASSETS1,2761,377  31/12/2025
31/12/2024Total equity256324 Equity attributable to owners of the Company254323 Share capital26187Share premium162210Retained earnings991852Other reserves(1)(2)Translation reserve(45)(18)Net amount of remeasurements of the net defined benefit liability recorded in equity(879)(906)Non-controlling interests22Non-current liabilities617656 Liabilities for post-employment and long-term termination benefit plans414459Other employee benefits35Loans and borrowings152141Provisions2834Deferred tax liabilities58Trade payables12Contract liabilities1-Other non-current liabilities147Current liabilities403396 Loans and borrowings1715Provisions5426Trade payables109127Contract liabilities103102Current income tax liabilities2221Other tax liabilities2424Other payables55Employee benefits6774Other current liabilities22Derivative financial instruments-1TOTAL EQUITY AND LIABILITIES1,2761,377 Consolidated Statement of Net Debt (in million euro)

Consolidated figures following IFRS accounting policies.

 31/12/202531/12/2024Net financial debt (excl IFRS16 and excl. pension debt)2137Lease liabilities5850Net Financial Debt7887Liabilities for post-employment and long-term termination benefit plans - net balance sheet position343405Net debt 422492
Consolidated Statement of Cash Flows (in million euro)
Consolidated figures following IFRS accounting policies.

The Group has elected to present a statement of cash flows that includes all cash flows, including both continuing and discontinued operations.

 Q4 2025
unauditedQ4 2024
unaudited20252024
Profit (loss) for the period(62)(63)(71)(92)Income taxes(1)9715Share of results of (profit)/loss of associates, net of tax-1-1Net finance costs872126Operating result(55)(46)(42) (49)      Depreciation & amortization662126Depreciation & amortization on right-of-use assets441516Impairment losses on goodwill, intangibles and PP&E22202319Impairment losses on right-of-use assets-        454     Exchange results and changes in fair value of derivatives11(3)-Recycling of hedge reserve(2)-(3)(1)Government grants and subsidies(1)(2)(6)(5)(Gains)/Losses on the sale of intangibles and PP&E-(2)-(2)Result on the disposal of discontinued operations8-81Expenses for defined benefit plans & long-term termination benefits5(2)1516Accrued expenses for personnel commitments3164457Write-downs/reversal of write-downs on inventories13710Impairments/reversal of impairments on receivables--2-Additions/reversals of provisions49405345     Operating cash flow before changes in working capital4441136138     Change in inventories505123(13)Change in trade receivables(23)(19)(2)(3)Change in contract assets(4)(6)2(8)Change in working capital assets242724 (24) Change in trade payables129(5)(7)Change in contract liabilities2183Changes in working capital liabilities14103 (4) Changes in working capital383727 (28)  Q4 2025
unauditedQ4 2024
unaudited2025
2024
Cash out for employee benefits(31)(35)(111)(123)Cash out for provisions(18)(2)(31)(8)Changes in lease portfolio512716Changes in other working capital164132Cash settled operating derivatives1-42     Cash from / (used in) operating activities544666-     Income taxes paid(3)(2)(4)(3)Net cash from / (used in) operating activities514463(4) of which related to discontinued operations(1)-(4)(1)     Capital expenditure(9)(11)(34)(45)Proceeds from sale of intangible assets and PP&E1223Disposal of discontinued operations, net of cash disposed of-162Acquisition of associates---(1)Interests received231512     Net cash from / (used in) investing activities(7)(5)(11)(29) of which related to discontinued operations-162     Interests paid(3)(4)(12)(16)Proceeds from borrowings425785Repayment of borrowings(20)(20)(52)(20)Payment of finance leases(4)(6)(18)(21)Proceeds/(payment) of derivatives3(3)2(4)Other financing income / (costs) received/paid--(3)(2)     Net cash from / (used in) financing activities(20)(31)(25)22of which related to discontinued operations----     Net increase / (decrease) in cash & cash equivalents24827(11)     Cash & cash equivalents at the start of the period65576877 Net increase / (decrease) in cash & cash equivalents24827(11)Effect of exchange rate fluctuations13(5)2Cash & cash equivalents at the end of the period91689168 Consolidated Statement of changes in Equity (in million euro)
Consolidated figures following IFRS accounting policies.

in million euro

Share capitalShare premiumRetained earningsReserve for own sharesRevaluation reserve Hedging reserveNet amount of remeasurements of the net defined benefit lability recorded in equityTranslation reserveTOTALNON-CONTROLLING INTERESTSTOTAL EQUITYBalance at January 1, 2024187210945-(1)1(926)(22)3951396            Comprehensive income for the period           Profit (loss) for the period--(92)-----(92)-(92)Other comprehensive income, net of tax----(1)(1)19420-20Total comprehensive income for the period--(92)-(1)(1)194(71)-(71)            Transactions with owners, recorded directly in equity           Dividends-----------Transfer of amounts recognized in OCI to retained earnings following loss of control--(1)---1----Derecognition of NCI following loss of control-----------Total transactions with owners, recorded directly in equity--(1)---1----            Balance at December 31, 2024187210852-(2)-(906)(18)3232324            Balance at January 1, 2025187210852-(2)-(906)(18)3232324            Comprehensive income for the period           Profit (loss) for the period--(71)-----(71)-(71)Other comprehensive income, net of tax-----128(27)2-2Total comprehensive income for the period--(71)--128(27)(68)-(68)            Transactions with owners, recorded directly in equity           Dividends-----------Incorporation of losses in share capital and share premium(161)(49)210--------Total transactions with owners, recorded directly in equity(161)(49)210--------            Balance at December 31, 202526162991-(3)2(879)(45)2542256 Reconciliation of non-IFRS information (in million euro)

(Adjusted) Free Cash Flow

 Q4 2025
unaudited
Q4 2024
unaudited20252024
Adjusted EBITDA39305970Working capital - net423836(18)CAPEX(9)(11)(34)(45)Provisions & other9(5)2816Income taxes(3)(2)(4)(4)Adjusted Free Cash Flow77508719Pensions (below EBIT) & long term termination benefits(11)(12)(44)(44)Cash-out for adjustments and restructuring expenses(22)(3)(8)(21)Free Cash Flow443535(46)     Adjustments for:    Payment of finance leases(4)(6)(18)(21)Proceeds from borrowings425785Repayment of borrowings(20)(20)(52)(20)Acquisition of subsidiaries, net of cash acquired----Acquisition of associates---(1)Interests received231512Interests paid(3)(4)(12)(16)Proceeds/(payment) of derivatives3(3)2(4)Other financial flows--(3)(2)Total adjustments(19)(28)(11)34Cash flows from continuing operations25625(12)     Net cash from/(used in) operating activities related to discontinued operations(1)-(4)(1)Net cash from/(used in) investing activities related to discontinued operations-162Cash flows from discontinued operations(1)121     Net increase / (decrease) in cash & cash equivalents24827(11) Reconciliation of non-IFRS information (in million euro)

Adjusted EBIT

 Q4 2025
unaudited
Q4 2024
unaudited20252024
Segment Adjusted EBIT32253643Adjusted EBIT from operating activities not allocated to a reportable segment: mainly related to ‘Corporate Services’(3)(5)(12)(16)     Adjusted EBIT29202327     Restructuring expenses(46)(37)(54)(38)Adjustments(31)(29)(3)(37)     Results from operating activities(48)(45)(34)(48) Working capital

 31/12/202531/12/2024
Inventories254293Non-current trade receivables32Current trade receivables169178Contract assets7393Non-current trade payables(1)(2)Current trade payables(109)(127)Contract liabilities(104)(102)Working capital285335 Reconciliation of non-IFRS information (in million euro)

Net Financial Debt including IFRS 16

 31/12/202531/12/2024Non-current loans and borrowings152141Current loans and borrowings1715Cash and cash equivalents(91)(68)Net financial debt including lease liabilities7887 Net Financial Debt excluding IFRS 16

 31/12/202531/12/2024Non-current loans and borrowings152141Non-current lease liabilities comprised in Non-current loans and borrowings(41)(36)Current loans and borrowings1715Current lease liabilities comprised in Current loans and borrowings(17)(15)Cash and cash equivalents(91)(68)Net financial debt excluding lease liabilities2137 Evolution net financial debt excluding lease liabilities – linked with cashflow (in million euro)

 31/12/202531/12/2024Net increase/(decrease) in cash and cash equivalents27(11)Comprising:  Proceeds from borrowings (-)(57)(85)Repayment of borrowings (+)5220Net cash inflows (outflows)21(76)   Net financial debt excluding lease liabilities beginning of the period37(37)Net cash inflows (outflows)21(76)Currency impact(5)2   Net financial debt excluding lease liabilities end of period2137 press release in pdf

Sprinklr, Inc. (NYSE: CXM) will release its first quarter earnings before the opening bell on Wednesday, March 11.

The miner booked a 36% rise in its average gold price which helped drive group revenue 20% higher to $2.56 billion.

March 11, 2026 03:00 ET  | Source: Diversified Energy PLC

DIVERSIFIED ENERGY COMPANY

("Diversified", or the "Company")

DIVERSIFIED ENERGY COMPANY (NYSE: DEC; LSE: DEC) announces that, in accordance with the terms of its share buyback announced on February 26, 2026, the Company has purchased 3,750,000 shares of common stock, par value $0.01 per share, of the Company (the "Shares") in the market at a volume-weighted average price of  $14.311 per Share through Citigroup in connection with the underwritten public offering of 7,501,585 Shares by certain funds or entities managed by an affiliate of EIG (collectively, the “Selling Stockholder”). Following the closing, EIG will no longer own any Shares of Diversified. The Shares repurchased will, in due course, be cancelled.

Aggregated Information

Date of Purchase:March 10, 2025Aggregate Number of Shares Purchased:3,750,000Lowest Price Paid per Share (USD):$14.311Highest Price Paid per Share (USD):$14.311Volume-Weighted Average Price Paid per Share (USD):$14.311   Following the cancellation of Shares, Diversified will have 72,320,756 Shares in issue, and no Shares are held in treasury. This figure of 72,350,756 Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Diversified Energy Company+1 973 856 2757Doug [email protected] Vice President, Investor Relations & Corporate Communicationswww.div.energy   About Diversified Energy Company

Diversified is a leading publicly traded energy company focused on acquiring, operating, and optimizing cash generating energy assets. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Ynvisible Interactive Inc. (TSXV: YNV) (FSE: 1XNA) (OTCQB: YNVYF) (the "Company" or "Ynvisible"), a leader in printed e-paper display technology, is pleased to announce it has received a Letter of Intent ("LOI") from Sapphiros, a privately held consumer diagnostics company, to establish Ynvisible as an exclusive supplier of displays for certain lateral flow and molecular diagnostic tests manufactured by Sapphiros.

Key Highlights

FDA regulatory pathway underway: Clinical studies of Sapphiros' Digital Lateral Flow tests are underway.Exclusive supply agreement expected: LOI outlines intention to enter into a three-year exclusive supply agreement.Commercial sales in 2026: Sales of Ynvisible displays to Sapphiros are underway and will accelerate throughout 2026. Expanding medical diagnostics market: This partnership represents Ynvisible's first commercial business in the large and rapidly growing global sector of Medical Diagnostics, with the Company expecting other customers in this market.

Ynvisible displays used in Sapphiros' diagnostic tests (right image credit: Sapphiros)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4685/288084_ynimg1.jpg

To date, Ynvisible has supplied Sapphiros' companies with displays for laboratory testing and ongoing clinical studies related to platforms for respiratory and other rapid diagnostic tests, which are designed for both the point-of-care and direct-to-consumer markets. The LOI anticipates continued supply of Ynvisible products in support of the commercial launch of Sapphiros' products, once they receive regulatory approval.

This milestone builds on joint development work that began in 2024, during which Ynvisible engineered customized display solutions for integration into Sapphiros' diagnostics platforms.

Strategic Significance
The agreement represents an important step in Ynvisible's strategy to expand into high-volume medical and diagnostic applications, a market that continues to expand as healthcare systems increasingly adopt decentralized testing and rapid diagnostic technologies. Ynvisible's ultra-low power, thin, and flexible displays deliver clear, reliable results and are capable of operating without complex electronics, making Ynvisible's technology particularly well suited for these applications.

"This Letter of Intent represents an important step toward commercial deployment of Ynvisible's technology in next-generation diagnostic devices," said Ramin Heydarpour, CEO and Chairman of Ynvisible. "Our collaboration with Sapphiros demonstrates the performance and scalability of our printed e-paper displays in medical applications. As Sapphiros advances toward regulatory approvals and prepares for commercial launch, this relationship has the potential to create significant high-volume opportunities for Ynvisible."

"Sapphiros is committed to delivering innovations in diagnostics that enable global access and equitable health outcomes to patients and providers alike," said Mark Gladwell, CEO of Sapphiros. "Our partnership with Ynvisible empowers users of our diagnostic devices, whether in their homes, in clinical settings or elsewhere, with clear, visible results, offering confidence in understanding test outcomes."

About Ynvisible

Ynvisible is disrupting the low-cost and ultra-low-power display industry thanks to the latest advantages in sustainable electronics and roll-to-roll printing production. Ynvisible's printed e-paper displays are ideal for low-power and cost-sensitive applications, such as digital signage, smart monitoring labels for supply chain and logistics, visual indicators for medical and diagnostics, or retail labels and signage. Ynvisible has experience, know-how, and intellectual property in electrochromic materials, inks, and systems, and offers a mix of services, technology and products to brand owners developing smart objects and IoT products. Additional information on Ynvisible is available at www.ynvisible.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Ramin Heydarpour
CEO and Executive Chairman
Ynvisible Interactive Inc.

About Sapphiros

Sapphiros, backed by KKR and Neoenta, is a privately held consumer diagnostics company. Sapphiros' portfolio of technologies and capabilities includes novel sample collection, next generation diagnostics, and extreme volume manufacturing, which help consumers and communities access important diagnostic results. For more information visit sapphiros.com.

For Media Relations:
[email protected]

Forward-Looking Statements

This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Ynvisible Interactive Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Ynvisible Interactive Inc. management on the date the statements are made. Except as required by law, Ynvisible Interactive Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288084

Source: Ynvisible Interactive Inc.

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

Contact Us

Lucid Group (LCID 1.30%) is a company I track very closely. I believe in its business model over the long term. Last year, the company's former CEO revealed that Lucid plans to slowly evolve from a car manufacturer into a tech supplier, and I believe that approach would come with lower capital needs, higher margins, and greater stickiness with customers.

But there's a problem: This savvy approach to business strategy doesn't necessarily make the company a wise investment. And there's one obvious reason why.

Image source: Lucid Group.

Lucid isn't a compelling investment versus Rivian or Tesla As mentioned, I'm a big fan of Lucid's strategy to focus more on technology versus manufacturing. The only issue is that competing EV stocks, including Rivian (RIVN +4.22%) and Tesla (TSLA +0.07%), are pursuing a similar strategy. And unfortunately for Lucid, both Rivian and Tesla are better financed with bright prospects for scaling their technological visions.

Tesla's vision is clear: Invest heavily in artificial intelligence (AI) and self-driving technologies to pursue gigantic opportunities like robotaxis, a market some experts predict will eventually be worth $5 trillion to $10 trillion. While it doesn't seem as if Tesla will be marketing its technology to other carmakers, it has the capital and name recognition to pursue this opportunity purely for its own needs.

Rivian is also investing heavily in AI to fuel its autonomous driving dreams. But its strategy explicitly involves commercializing its technology for other automakers, as evidenced by its multibillion-dollar partnership with Volkswagen. Volkswagen will be explicitly relying on Rivian for the software side of its vehicle strategy.

What about Lucid? Lucid did forge an impressive partnership with Uber Technologies last year to help power that company's robotaxi arm. Importantly, however, the deal was mostly struck to supply Uber with physical vehicles, as Uber doesn't have the capability to manufacture its own fleet. But Uber will be relying on another firm, Nuro Inc., for most of its autonomous software needs.

In an industry rife with failures, Lucid has successfully secured long-term financial partners, brought several luxury models to market, and attracted deep-pocketed customers like Uber. But when it comes to AI and autonomous driving investments, both Rivian and Tesla are arguably further ahead, both on paper and in terms of actual deployments.

Tesla's $1.2 trillion market cap may scare off some investors. But Rivian's $19 billion valuation is far more palatable. That's a premium compared to Lucid's $3.2 billion valuation. But Rivian's path to commercializing its autonomy technology is much clearer. From an investment standpoint, there's simply no room for Lucid when compared to Tesla's might and Rivian's promise.

Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy.

Streamlining Telephony Integration with Seamless Microsoft Operator Connect Configuration for Enhanced Business Efficiency March 11, 2026 03:05 ET  | Source: CallTower, Inc.

SALT LAKE CITY, UT, ROCHESTER, NY, MONTREAL, QC, LONDON, March 11, 2026 (GLOBE NEWSWIRE) -- CallTower, a global leader in delivering cloud-based communication and collaboration solutions, is proud to announce its ability to configure CallTower Operator Connect numbers within Microsoft Dynamics 365 for seamless integration and enhanced efficiency.  This new capability empowers businesses to seamlessly integrate their telephony systems with Dynamics 365, enhancing customer engagement and operational efficiency.

This integration allows organizations to route inbound PSTN calls from CallTower Operator Connect numbers directly into Dynamics 365 workstreams. By leveraging CallTower’s robust MSFT Operator Connect solution, businesses can streamline their communication infrastructure, reduce complexity, and improve the customer experience within the Dynamics 365 environment.

“CallTower is thrilled to be among the first to offer this capability,” said William Rubio, Chief Revenue Officer at CallTower. “This isn’t just about connecting phone numbers; it’s about empowering businesses to create a unified communication strategy that drives efficiency and enhances customer interactions. We’re proud to lead the way in simplifying telephony for our customers.”

Key Benefits of the Integration

Professional Configuration: Assign and sync CallTower Operator Connect numbers with Dynamics 365 workstreams.Enhanced Efficiency: Eliminate the need for separate telephony systems, reducing operational overhead.Improved Customer Experience: Enable agents to manage calls directly within Dynamics 365, ensuring faster response times and better service. The process includes setting up a Teams resource account, assigning a CallTower Operator Connect number, and seamlessly syncing it with Dynamics 365. Once configured, businesses can efficiently route calls directly to agents through Dynamics 365’s voice channel, ensuring a streamlined and effective call-handling experience.

This innovative capability is now available to CallTower customers worldwide. To learn more about configuring CallTower Operator Connect numbers in Dynamics 365, visit CallTower’s Solutions Center.

About CallTower

CallTower is a global leader in enterprise-class cloud communications, empowering businesses to connect and collaborate seamlessly since 2002. Offering advanced solutions like Microsoft Teams Operator Connect, Webex by Cisco®, Zoom Phone, and AI-powered contact centers, CallTower delivers reliable, tailored connectivity for enterprises worldwide. With the 2025 acquisition of Inoria, a trusted contact center expert, CallTower has amplified its CCaaS and CX capabilities, driving innovation with Conversational AI and advanced analytics. Together, CallTower and Inoria provide actionable insights and cutting-edge solutions to transform business communications and customer experiences.

With a vision for innovation and a commitment to excellence, CallTower continues to advance cloud communications, driving success for businesses worldwide.

For media inquiries or questions, please contact [email protected].

31.67K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of ZIM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

InterContinental Hotels Group PLC (the "Company")

Purchase of own shares

LONDON, UK / ACCESS Newswire / March 11, 2026 / The Company announces that on 10 March 2026 it purchased the following number of its ordinary shares of 20340/399 pence each through Goldman Sachs International ("GSI") on the London Stock Exchange in accordance with the authority granted by shareholders at the Company's Annual General Meeting on 8 May 2025 (the "Purchase"). The Purchase was effected pursuant to instructions issued by the Company on 17 February 2026, as announced on 17 February 2026.

Date of purchase:

10 March 2026

Aggregate number of ordinary shares purchased:

20,000

Lowest price paid per share:

$ 130.5000

Highest price paid per share:

$ 133.4500

Average price paid per share:

$ 131.7519

The Company intends to cancel the purchased shares.

Following the above transaction, the Company has 150,695,048 ordinary shares in issue (excluding 5,431,782 held in treasury).

A full breakdown of the individual purchases by GSI is included below.

http://www.rns-pdf.londonstockexchange.com/rns/1247W_1-2026-3-10.pdf

Enquiries to:

InterContinental Hotels Group PLC:

Investor Relations: Stuart Ford (+44 (0)7823 828 739); Kate Carpenter (+44 (0) 7825 655 702); Joe Simpson (+44 (0)7976 862 072)

Media Relations: Neil Maidment (+44 (0)7970 668 250); Mike Ward (+44 (0)7795 257 407)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: InterContinental Hotels Group PLC

The Italian banks expect to complete their merger by the end of the year and to lead to the delisting of Mediobanca.

By Reuters

March 11, 20267:20 AM UTCUpdated 4 mins ago

Item 1 of 2 Toyota Motor's logo on the Estima Hybrid model is pictured at the automaker's headquarters in Tokyo, Japan, February 6, 2017. REUTERS/Kim Kyung-Hoon/File Photo

[1/2]Toyota Motor's logo on the Estima Hybrid model is pictured at the automaker's headquarters in Tokyo, Japan, February 6, 2017. REUTERS/Kim Kyung-Hoon/File Photo Purchase Licensing Rights, opens new tab

CompaniesMarch 11 (Reuters) - Toyota Motor (7203.T), opens new tab ​is recalling ‌550,007 vehicles in ​the ​U.S. as a ⁠faulty ​seat back ​mechanism may fail to ​lock, ​increasing the risk ‌of ⁠injury, the U.S. National ​Highway ​Traffic ⁠Safety Administration (NHTSA) ​said on ​Wednesday.

Stay up to date with the latest news, trends and innovations that are driving the global automotive industry with the Reuters Auto File newsletter. Sign up here.

Reporting ⁠by Mihika ⁠Sharma ​in ​Bengaluru; Editing by ​Mrigank Dhaniwala

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Shares of financial software maker Intuit (INTU 4.20%) have taken a massive beating this year. While the S&P 500's year-to-date return is about flat, Intuit stock has plunged. Indeed, shares traded as low as $349 at one point this year. While the stock is now trading well above this low, it's still down more than 30% year to date.

This dramatic underperformance comes as investors grow increasingly concerned about the potential for artificial intelligence (AI) to disrupt software business models like Intuit's.

But the company's actual financial results haven't been negatively impacted by AI so far. If anything, Intuit has benefited from AI.

So, what should investors make of the recent volatility in Intuit stock?

Image source: Getty Images.

Robust growth despite the fears Based on the market's severe reaction, you might assume Intuit's core business is struggling.

But the underlying business continues to execute very well.

In its second quarter of fiscal 2026, the company delivered robust revenue growth, with the top line rising 17% year over year to $4.7 billion.

And the company is highly profitable, generating $6 billion in free cash flow in fiscal 2025. Cash flow like this can help the company to invest heavily in its own platforms to fortify its competitive advantages with its own AI features -- and it's doing exactly that.

The company has rolled out AI agents to assist its customers, and Intuit CEO Sasan Goodarzi said in its most recent earnings call that more than three million customers have "leveraged agents to do the work for them..."

"In January alone, our accounting agents saved time and delivered impact for our customers by categorizing over 237 million transactions," Goodarzi added. "This represents over half of all the transactions categorized that month."

If you were to ask management if AI is a threat, they'd probably say it's a catalyst.

"Our disruptive AI-native mid-market platform is fueling the success of growing businesses and we are further scaling our investment, product innovation, and go-to-market motions to accelerate customer adoption," Goodarzi said in the company's fiscal second-quarter earnings call.

Don't get too excited However, Intuit's forward-looking guidance points to a near-term slowdown. Management forecast Intuit's upcoming fiscal third-quarter revenue to grow by approximately 10% year over year, representing a notable deceleration from its most recent period.

While the company is notoriously conservative with its guidance, this is still something worth watching.

Ultimately, however, it is possible that Intuit proves -- one quarter at a time -- that its business won't be impaired by AI and may even benefit from it.

But the future remains uncertain, and the market is clearly not ready to give the software giant the benefit of the doubt. When technological shifts occur this rapidly, investors often demand a wider margin of safety.

Understanding valuation risk This brings us to the core issue driving Intuit's recent decline: valuation risk.

For stocks trading at premium valuations, the underlying business doesn't have to fail for the stock price to collapse.

Sometimes, the market simply decides that a company no longer deserves such a robust premium, and the stock gets rerated lower even as the fundamentals continue compounding nicely.

Before this 2026 software sell-off began, Intuit stock was arguably priced for absolute perfection. Even after the recent haircut, the stock still commands a price-to-earnings ratio of about 30. A valuation like this assumes years of steady double-digit earnings growth.

But with AI introducing a structural unknown into the software landscape, that predictability is exactly what investors are questioning.

If the market continues to recalibrate what it is willing to pay for software earnings in an AI-driven world, shares could remain under pressure.

Today's Change

(

-4.20

%) $

-19.87

Current Price

$

453.80

Prepare for volatility So, how much further could Intuit stock fall?

While there's no way to know exactly what the stock will do in the near term, investors should be prepared for a bumpy ride. The risk of AI disrupting software is not going anywhere, so the stock's elevated volatility is likely here to stay.

It is entirely possible that shares could test those $349 levels again if broader market sentiment sours or if the company's growth rate shows further deceleration.

With all of this said, shares are certainly more attractive today than they were last year. For investors who believe Intuit will successfully navigate the AI transition, a small position could make sense here given the company's recent robust revenue growth.

The Beachbody Company, Inc. (BODI) Q4 2025 Earnings Call March 10, 2026 5:00 PM EDT

Company Participants

Mark Goldston - Executive Chairman
Carl Daikeler - Co-Founder, CEO & Director
Brad Ramberg - Interim Chief Financial Officer

Conference Call Participants

Bruce Williams - ICR Inc.
Alec Legg - Canaccord Genuity Corp., Research Division
Eric Des Lauriers - Craig-Hallum Capital Group LLC, Research Division
Michael Kupinski - NOBLE Capital Markets, Inc., Research Division
George Kelly - ROTH Capital Partners, LLC
Alex Hantman - Sidoti & Company, LLC

Presentation

Operator

Good afternoon. Thank you for attending today's Beachbody Company, Inc. Fourth Quarter 2025 Earnings Conference Call. My name is Tamia, and I will be your moderator for today's call. [Operator Instructions].

I would now like to pass the conference over to your host, Bruce Williams, Managing Director of ICR. You may proceed, Bruce.

Bruce Williams
ICR Inc.

Welcome, everyone, and thank you for joining us for our fourth quarter earnings call. With me on the call today are Mark Goldston, Executive Chairman of Beachbody Company; Carl Daikeler, Co-Founder and Chief Executive Officer; and Brad Ramberg, Interim Chief Financial Officer. Following the prepared remarks, we'll open the call up for questions.

Before we get started, I would like to remind you of the company's safe harbor language. Statements contained in this conference call, which are not historical facts, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results may differ materially from those suggested by such statements due to a number of risks and uncertainties, all of which are described in the company's filings with the SEC, which includes today's press release.

Today's call will include references to non-GAAP financial measures such as adjusted EBITDA, net cash and free cash flow, and a reconciliation of these non-GAAP financial measures

Spyre Therapeutics, Inc. (SYRE) Leerink Global Healthcare Conference 2026 March 9, 2026 8:40 AM EDT

Company Participants

Cameron Turtle - CEO & Director
Sheldon Sloan - Chief Medical Officer

Conference Call Participants

Thomas Smith - Leerink Partners LLC, Research Division

Presentation

Thomas Smith
Leerink Partners LLC, Research Division

Good morning, everyone. Thanks for joining us here at the Leerink Partners Global Healthcare Conference. My name is Tom Smith. I'm one of the senior biotech analysts here at Leerink. And it's my pleasure to introduce our next company, Spyre Therapeutics and their management team led by CEO, Cameron Turtle; and CMO, Sheldon Sloan. Gentlemen, thanks for joining us.

Cameron Turtle
CEO & Director

Thanks for having us.

Thomas Smith
Leerink Partners LLC, Research Division

And this is one of our top picks for 2026. We think this company is really best positioned to capitalize on the emergence of combination therapies in inflammatory bowel disease. And we also see the potential for TL1A to be a potential game changer in rheumatology indications. Spyre is interrogating both of those theses intensively, and we're going to get a lot of data here over the next 9 months. We have 6 Phase II readouts this year. So a lot of data catalysts coming. And we think we're going to start to see that thesis prove out.

Cameron, why don't you kick us off with -- I know I just gave a little bit of a background, but maybe like a little bit of an overview for those in the audience who are a little bit less familiar with the story?

Cameron Turtle
CEO & Director

Yes, you did it well. But I think the short version here is that we're looking to create indication-leading products across the large autoimmune disease markets. And we started this by making what

BARCELONA, Spain--(BUSINESS WIRE)--DexCom, Inc. (NASDAQ:DXCM), the global leader in glucose biosensing, will present new findings that showcase the benefits of its glucose biosensing technology for people with all types of diabetes and share more details about future product features across its global portfolio at the upcoming 19th annual Advanced Technologies and Treatments for Diabetes Conference in Barcelona, March 11-14, 2026. “There is no better global stage than ATTD to showcase how we're.