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NEXANS: HEAD START TO THE YEAR

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PRESS RELASE _

NEXANS: HEAD START TO THE YEAR

Quarterly sales growth setting robust basis for the year
Final steps to “New Nexans 2019-2021 Transformation Plan
SHIFT transformation program structural tailwind across all operations
Uniquely placed to build on United States Offshore Wind momentum
Laying groundwork of Nexans strategic ambition to Electrify the Future

  • Standard1 sales of 1,503 million euros in first quarter 2021, representing organic growth2 of +1.4% year-on-year and +5.8% sequentially
  • Current sales land at 1,756 million euros, up +15.2% alongside copper price inflation
  • Topline recovery reflecting healthy backlog across all businesses – notably in Subsea High-Voltage with an adjusted backlog at 1.5 billion euros3, continued customer selectivity for further value growth and pricing increase in line with first sequence of raw material inflation  
  • Focus on performance improvement continued through fixed costs reductions and SHIFT Program
  • Robust balance sheet with early repayment of French State Back loan (“PGE”) and 2021 bond; S&P outlook reviewed to positive
  • Uniquely placed as sole, US based, subsea high-voltage cables manufacturer to serve US offshore wind market expected to generate up to 30 gigawatts power by the end of the decade and proudly chosen as preferred supplier on Empire Wind projects in New York
  • Electrify the Future: groundwork initiated on Nexans’ strategic ambition announced February 17th thanks to innovative partnerships, active M&A pipeline and diligent divestments preparation

Paris, April 29, 2021 – Today, Nexans published its financial information for the first quarter of 2021. Commenting on the Group’s performance, Christopher Guérin, Nexans’ Chief Executive Officer, said: The sound start to the year upholds demand momentum, as much as it supports the gradual and sequential improvement through the rest of the year and the 2021 financial guidance. We continued to focus on value growth and free cash flow conversion. We increased prices in line with first sequential raw material inflation using pass-through mechanisms and our unique in-house SHIFT methodology. We remained selective on the quality of our backlog (customers, projects, products profile) increasing it by +20% and improving embedded margin ratio.
As we are finalizing our 2019-2021 transformation plan, we are setting the groundwork for our strategic ambition: i) we have signed five strategic partnerships to support our AMPLIFY innovation model, ii) uniquely positioned ourselves in the US Offshore Wind market and, iii) launched worldwide our MOBIWAY offer for the Building sector.”

CONSOLIDATED SALES BY SEGMENT

(in millions of euros)
At standard metal prices
Copper reference at €5,000/t
Q1 2020 Q1 2021   Organic growth Q1 2021 vs. Q1 2020 Sequential growth Q1 2021 vs. Q4 2020
Building & Territories 645 615   2.0% +2.8%
Industry & Solutions 332 344   +5.8% +10.9%
Telecom & Data 114 74   4.2% +2.2%
High Voltage & Projects 193 147   24.7% -13.7%
Other Activities 285 323   +25.9% +19.7%
Group total 1,569 1,503   +1.4% +5.8%

I.   Q1 2021 Highlights and General Operating Context

Head start to the year: +1.4% organic growth Q1 2021 vs. Q1 2020

  • In the first quarter of 2021, sales at standard metal prices totaled 1,503 million euros, up +1.4% organically compared to first quarter of 2020 and up +5.8% compared to fourth quarter 2020 demonstrating our ability to: i) capture growth in key geographies despite on-going Covid-19 pandemic constraints, ii) pursue our customer/product selectivity and iii) pass-through first sequence of raw material inflation through pricing increase.
  • Nexans demonstrated backlog growth across all segments thanks to sound commercial momentum. Building & Territories witnessed strong catch-up in orders, boosted by overall dynamic in the construction market, raw material price inflation leading to price increases and customer stocking. Tendering activity in Subsea High Voltage remained strong and supportive of the solid sales acceleration expected throughout the year. Charleston plant conversion and Nexans Aurora vessel construction continued to progress respectively heading to completion in Summer and May 2021.

Executing final steps to New Nexans 2019-2021 Transformation Plan

  • During the quarter, the Group pursued fixed costs reduction and SHIFT transformation program across all operations implementing cost and productivity improvements, notably focusing on operating working capital and closely monitoring raw material supply and cost appreciation.
  • Nexans maintained strong liquidity while repaying early the 2021 bond and French State backed loan (“PGE”). As of February 17, 2021, S&P outlook was revised from negative to positive on ‘BB’ long-term rating.
  • Nexans is best positioned in the US Offshore wind market and was selected to be preferred supplier by Empire Wind LLC to electrify the future of New York State by connecting the Empire Offshore Wind Farms to the onshore grid.

Laying the groundwork for Nexans’ 2022-2024 strategic ambition: Electrify the Future

  • Convinced that remaining a generalist will be more a weakness than a strength, Nexans unveiled its ambition to become an Electrification Pure Player on February 17, 2021 at its Capital Markets Day. The Group will cover the entire electrification value chain: from the very start of production of energy, to transmission and distribution of energy, all the way to usage of energy.

During the quarter, the Group started laying the groundwork on three main pillars:

  • Simplify to Amplify: set stage to the Group’s focus on electrification;
  • Transform and Innovate: five risk management, innovation and digital partnerships signed with leading players in their domain such as, for example, Bureau Veritas, Schneider Electric, Microsoft and Orange Business Services;
  • Scale-up to step-up performance: active M&A pipeline and diligent divestments preparation

II.   Q1 2021 Sales per Business Group

| BUILDING & TERRITORIES: +3.3% in Q1 2021 excluding the closure of Chester plant in the US, supported by strong rebound in South America and robust demand in the Middle East and Africa

Building & Territories segment sales amounted to 615 million euros at standard metal prices in first quarter 2021, including the closure of Chester plant organic growth landed at -2.0% compared to the same period of 2020. Sales were sequentially up +2.8% compared to fourth quarter 2020 supported by a recovery in demand in most geographies and, in certain regions, by customer stocking in anticipation of further raw material price increase.

Over the period, the Building segment was resilient in line with gradual catch-up in demand following 2020 disruption due to the Covid-19 constraints. While the Territories (Utilities) activity was mixed across geographies with robust demand in China and France and weaker sales in the Nordics against last year.

The quarterly trends by geographies were as follow:

  • Europe activity stood at -2.1% in first quarter 2021 compared to first quarter 2020, supported by good dynamics in France, notably in the Do-It-Yourself market, and Southern Europe benefitting from sustained demand in Utilities while the Nordics were impacted by a harsher winter affecting Utilities installations campaigns this quarter.
  • South America rebounded by +18.6% during the quarter benefiting from a double-digit growth in Peru and Brazil following upturn in construction activity and customer stocking.
  • Asia Pacific was down -4.0% in first quarter 2021 compared to first quarter 2020 and sequentially up +11.2%. China and New Zealand showed sound growth, notably in Utilities, supported by catch-up in demand while Australia suffered from tough comparable as the first quarter 2020 had witnessed strong momentum.
  • North America declined by -34.3% in the quarter due to the US Chester plant closure in June 2020 following SHIFT program analysis. Excluding US Chester plant, sales were up +14.9% year-on-year supported by healthier market conditions in Canada.
  • Middle East and Africa was up +8.4% boosted by continuous strong performance in Turkey more than offsetting declines in Morocco and Lebanon, the latest still remains impacted by the geo-political situation.

| INDUSTRY & SOLUTIONS: +5.8% in Q1 2021 boosted by auto-harnesses record demand and Automation rebound

Industry & Solutions sales landed at 344 million euros at standard metal prices in the first quarter of 2021, up +5.8% organically year-on-year and +10.9% sequentially supported by a record quarter in auto-harnesses. Aerospace remains challenged by the Covid-19 crisis.

Railway Infrastructure & Rolling Stock sales increased (+4.8% year-on-year) in virtue of the sustained demand related to the construction of subway lines in China and Europe, Aerospace & Defense (-39.7% year-on-year) and Oil & Gas (-15.6% year-on-year) remained challenged while Automation was strongly up (+46.1% year-on-year) boosted by demand in Europe. Wind Turbine activity was down (-19.6% in sales year-on-year) on strengthened Nexans project selectivity.

Automotive harnesses was strongly up by +17.9% in the first quarter. Sales reached a new record high in virtue of catch-up in demand from China and growing market shares of electrical vehicles supported by Government subsidies. A first contract in body harnesses has been awarded and will secure the growth momentum.

| TELECOM & DATA: –4.2% in Q1 2021 with LAN cables and Systems recovery, continued soft demand in Fiber

Telecom & Data sales amounted to 74 million euros at standard metal prices in first quarter 2021, down -4.2% organically compared to first quarter 2020 and up +2.2% sequentially showing an improvement in LAN cables and Systems while still impacted negatively by soft demand in fiber optical infrastructure cable and accessories.

LAN cables and Systems rebounded by +19.4% in the first quarter 2021 compared to first quarter 2020 with activity benefitting from the upturn in Asia, Europe and the delivery of major projects in Middle East.

Telecom Infrastructure was down -17.2% remaining impacted by project delays, pursued customer demand on Fiber-to-the-home and low backbone orders with intense price pressure due to Asian imports.

Thanks to the solid demand and Nexans’ leading position, sales were up +12.1% in the Special Telecom (Subsea) business year-on-year and backlog remained strong.

| HIGH VOLTAGE & PROJECTS: -24.7% in Q1 2021 in light of unfavorable Q1 2020 comparable; adjusted Subsea backlog at 1.5bn and project execution remained strong

High Voltage & Projects standard sales stood at 147 million euros in the first quarter of 2021, down -24.7% year-on-year. The division bears a high comparative as first quarter 2020 sales were up +56% compared to first quarter 2019, reflecting the execution of two repair contracts and favorable phasing of projects. Sales will accelerate progressively throughout 2021, reflecting project phasing, completion of the Charleston plant in the US and delivery of the state-of-the-art Nexans Aurora cable laying vessel.

Subsea high-voltage was down -29.4% in the first quarter 2021, affected by a strong base effect as stated above. In line with the Group’s flawless and disciplined project execution, progress was made mainly on the turnkey projects Seagreen, Crete-Attica, NSL, Mindanao-Visayas and Lavrion-Syros. Adjusted Subsea backlog4 was at 1.5 billion euros at the end of March (up +11.5% compared to December 2020), with a 24-month visibility and fully loaded Halden plant in 2021. Tendering activity continued to be strong, Nexans was selected as preferred supplier by Empire Offshore Wind LLC to electrify the future of New York State, connecting the Empire Offshore Wind Farms to the onshore grid.

In parallel, the Charleston plant transformation extension progressed according to plan and Nexans Aurora vessel is on-track for delivery in May.

Land high-voltage was slightly down -3.3% in the first quarter 2021. Project execution was in line with backlog phasing. Operations continued to go as planned after the successful turnaround of the unit last year.

| OTHER ACTIVITIES

The Other Activities segment – corresponding for the most part to copper wire sales – reported sales of 323 million euros at standard metal prices in first quarter 2021, up +25.9% year-on-year mainly linked to strong copper wire demand in North America.

III.   Executing final steps “New Nexans” 2019-2021 Plan

The Group continued to execute its “New Nexans” transformation plan launched in November 2018 and deployed Group-wide by reinforcing cost reduction measures and amplifying the SHIFT program to increase portfolio conversion of value burners and transformation candidates to profit drivers as well as enhancing cash optimization. Focus on operating working capital and customer selectivity on all commercial opportunities and turnkey projects is now embedded within units to improve profitability in all environments.

In a context of raw material price inflation, focus on copper and other raw material was enhanced across the Group to secure procurement, ensure supply avoiding any shortage and pass-through price increase.

IV.   Electrify the Future” 2022-2024 Strategic ambition

Nexans is actively pursuing initiatives to amplify innovation and partnership programs to offer beyond the cable solutions to its customers. During the quarter, Nexans achieved leading digital, innovation and risk management partnerships with:

  • Orange Business Services to deliver the global IoT connectivity crucial for the major expansion of Nexans’ asset tracking and IoT solutions;
  • Schneider Electric on digital transformation program to bring industrial 4.0 to plant operations and amplify sustainability;
  • Microsoft Azure to develop enhanced artificial intelligence (AI) and cloud solutions as the foundation for digital services and solutions that will drive the global energy transition;
  • Shippeo, a European leader in supply chain visibility, to implement an innovative new digital service that leverages automation and artificial intelligence to expand future capabilities of its global transport operations;
  • Bureau Veritas to reduce risk and promote best practices for turnkey high voltage power cables used to connect offshore wind farms to onshore grids.

V.   Sustainability impact

Nexans will lead the electrification of the future in a sustainable way. As announced during its Climate Day on September 22, 2020, Nexans is committed to reach carbon neutrality by 20305.

During the quarter the Group made significant progress to achieve its year-end targets:

  • In France, Nexans scored 85 out of 100 points in the 2020 Professional Equality Index compared to 66 in 2018. The Group is committed to gender equality and targets 16-18% of women in top management positions in 2021 and 18-20% by 2023.
  • In 2013, Nexans was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. Since then, the Nexans foundation supported 62 NGOs for 122 projects improving living conditions for 1.8 million people worldwide. The 9th call for projects was launched in the quarter and received 140 applications in 30 countries.

VI.   Significant events since the end of March

On April 1 – Nexans has extended its long-term partnership with RATP by winning a two-year contract to supply around 4,800 km of rail cable for infrastructure and on-board installation for projects including the Grand Paris Express.

On April 22 Nexans has partnered with French skipper Fabrice Amedeo. Sharing many values related to environmental protection, the fight against global warming and the preservation of oceans, Nexans and Fabrice Amedeo are teaming up until the next Vendée Globe race in 2024.

~ ~ ~

A conference call is scheduled today at 9:00 a.m. CET. Please find the access details:

Webcast
https://channel.royalcast.com/landingpage/nexans/20210429_1/

Audio dial-in

  • International switchboard: +44 (0) 33 0551 0200
  • France: +33 (0) 1 7037 7166
  • United Kingdom: +44 (0) 33 0551 0200
  • United States: +1 212 999 6659

Confirmation code: Nexans

~ ~ ~

Financial calendar

May 12, 2021:                 Annual Shareholders’ Meeting

May 19, 2021:                 Dividend – Ex date

May 20, 2021:                 Dividend – Record date

May 21, 2021:                 Dividend – Payment date

July 28, 2021:                 2021 Half Year Financial Information

Appendices (in millions of euros)

    First-quarter  
    2020 2021  
Sales at current non-ferrous metal prices by segment  
Building & Territories 677 723  
Industry & Solutions 335 359  
Telecom & Data 115 75  
High Voltage & Projects 196 149  
Other Activities 290 451  
Group total   1,614 1,756  
Sales at standard non-ferrous metal prices by segment
Copper standard of €5,000/t
 
Building & Territories 645 615  
Industry & Solutions 332 344  
Telecom & Data 114 74  
High Voltage & Projects 193 147  
Other Activities 285 323  
Group total 1,569 1,503  

Impact of changes in the scope of consolidation and exchange rates on sales at standard non-ferrous metal prices
Copper standard of €5,000/t

  First-quarter 2020 Currency effect Effect of changes in scope of consolidation Organic growth First-quarter 2021
Building & Territories 645 (20) 2 (13) 615
Industry & Solutions 332 (3) (3) 19 344
Telecom & Data 114 1 (38) (3) 74
High Voltage & Projects 193 3 0 (48) 147
Other Activities 285 (6) (23) 66 323
Group total 1,569 (25) (62) 21 1,503

About Nexans

Nexans is a global player in energy transition. Our purpose: electrify the future. For over a century, Nexans has played a crucial role in the electrification of the planet. With around 25,000 people in 38 countries, the Group is leading the charge to the new world of electrification: safer, sustainable, renewable, decarbonized and accessible to everyone. In 2020, Nexans generated 5.7 billion euros in standard sales.
The Group designs solutions and services along the entire value chain in three main business areas: Building & Territories (including utilities and emobility), High Voltage & Projects (covering offshore wind farms, subsea interconnections, land high voltage), and Industry & Solutions (including renewables, transportation, oil and gas, automation, and others).
Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. As a signatory of the Global Compact since 2008, Nexans is committed to contribute to a responsible global economy and strives to promote the ten principles defined by the UN to all its stakeholders. The Group pledged to contribute to carbon neutrality by 2030 and was the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide.
Nexans’ commitment to developing ethical, sustainable and high-quality cables also drives its active involvement within leading industry associations, including Europacable, the NEMA, ICF and CIGRE.

Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com

Contacts:        

NB: Any discrepancies are due to rounding

This press release contains forward-looking statements which are subject to various expected or unexpected risks and uncertainties that could have a material impact on the Company’s future performance.

Readers are invited to visit the Group’s website where they can view and download the 2020 financial statements and Nexans Universal Registration Document, which includes a description of the Group’s risk factors. 


1 To neutralize the effect of fluctuations in non-ferrous metal prices and therefore measure the underlying sales trend, Nexans also calculates its sales using standard prices for copper (standard price at 5,000 €/t) and aluminum (standard price at 1,200 €/t).
2 The first quarter 2020 sales figure used for like-for-like comparisons corresponds to sales at standard non-ferrous metal prices, adjusted for the effects of exchange rates and changes in the scope of consolidation. Exchange rates and changes in the scope of consolidation impacted sales at standard non-ferrous metal prices by -€25m and -€62m respectively.
3 Adjusted subsea backlog including contracts secured not yet enforced.
4 Adjusted subsea backlog including contracts secured not yet enforced.
5 Greenhouse Gas (GHG) emissions for scopes 1 and 2 as well as part of scope 3 relating to business travel, employee commuting, waste produced, as well as upstream and downstream transport, as defined by the GHG protocol – ghgprotocol.org. The targets are based on the reduction of emissions of 2019, the base year.

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Artificial Intelligence

Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

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The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
Logo: https://mma.prnewswire.com/media/1317764/2860789/Cayman_Enterprise_City_Logo.jpg
FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

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Strava Unveils New Chapter of Accelerated Product Development at Brand’s Flagship Event

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The Company introduces increased product velocity, leveraging advancements in Artificial Intelligence, in service of its vision of a world connected through movement 
LOS ANGELES, May 16, 2024 /PRNewswire/ — Strava, the leading digital community for active people with more than 125 million athletes, today showcased its latest initiatives and product developments at its annual event, Camp Strava. With the theme of Progress, Together company leaders announced how the platform will empower its global community to make progress in the way they explore, move, and connect on Strava.

“Strava is gaining momentum to realize our vision of a world connected through movement,” said Michael Martin, chief executive officer of Strava. “We are focused on two fundamental shifts to accelerate how we deliver value to 125 million people globally– building for women and leveraging Artificial Intelligence – which will unlock new community-and-partner-powered experiences across the platform.”
A New Era of Product VelocityStrava, with new leaders at the helm, is ushering in its next era of product velocity. The company listened closely to feedback from its global community and announced three of the most requested features coming to the platform by the end of the year.
The first of these updates, AI-enabled Leaderboard Integrity, will harness machine learning to automatically flag irregular, improbable, or impossible activities recorded to the platform. Trained by millions of activities, this feature allows all users on Strava to play fair and have more fun.
Additionally, the company announced a new Family Plan Subscription, the sister of the company’s Student Plan. With Family Plan, it’s easier to make a fitness commitment with your community by sharing an annual subscription with up to three other people – friends, family, or fitness family. Launching in select countries this summer, with plans to roll out globally by the end of the year, Strava’s newest annual subscription option offers the best value for groups (up to four), with a discount off the regular subscription price for each member.
Strava also implemented an updated design system, an initiative that is integral in driving a heightened pace of product innovation at the company. Through this work, Strava announced the launch of one of the company’s most requested features, Dark mode. Dark mode will improve the in-app experience for all users, reducing eye strain and improving accessibility while they record activity or scroll through the feed. Athletes can expect a rollout later this summer with options to keep their mobile settings always dark, always light, or match their device settings.
Company leaders highlighted several other features and updates to current products like Flyover, with its next iteration offering an overlay with activity stats and off-platform sharing capabilities. The overlay is available today for Strava subscribers and an off-platform sharing option will be released later this year.
Build for Her, Build for ManyStudies show that women of all ages participate in sports at a far lower rate than men, and overall, despite wanting to be active, find less time to dedicate to an active lifestyle. As the company continues on its mission to motivate people to live their best active lives, building for women on the platform will ultimately serve everyone in the Strava community. Several new features and initiatives were announced as a part of this strategic focus, which includes:
Night Heatmaps: Night Heatmaps show only activities between sundown and sunrise – so athletes can get an idea of which roads, trails, and paths are well-trafficked after hours. Since Night Heatmaps filter for after-hours routes, it can be a helpful tool for female athletes training before sunrise and after sunset.Quick Edit: For active women, having control over what is shared with the Strava community that cheers them on – like what time a run is logged – is important. Quick Edit makes it easier to make the most common edits – like activity name, and privacy settings so you can hide your start time, your map, or other workout stats.Strive for More®: The company announced a new phase of its Strive for More® initiative, created in 2022 to promote and support women in movement and sport. Today, Strava unveiled an official partnership with media company TOGETHXR to encourage more women to watch – and play – women’s sports. As part of the partnership, Strava will also donate $100,000 to the Alex Morgan Foundation, started by co-founder of TOGETHXR, Alex Morgan, to support their mission to help girls and women find confident paths forward in sports and life.Athlete IntelligenceToday, Strava announced the start of an accelerated product roadmap, outlining how Strava will implement the latest technological enhancements in AI and machine learning, to transform the athlete experience.
One key advancement to the platform includes the company’s latest development, Athlete Intelligence. Strava is introducing its beta AI-powered feature which turns each subscriber’s training data into an easily digestible summary that contextualizes their accomplishments and fitness goals. Unlike other AI-powered training services, Strava connects with thousands of devices, wearables, and fitness apps, so an athlete’s insights can consider their entire fitness story across multiple sports and modalities.
The features shared at Camp Strava will be released on a rolling basis through the end of the year. To view the full list of product releases and further details, visit www.press.strava.com.
For more information on Strava, to create a free account, or to start a free subscription trial visit www.strava.com.
About Strava Strava is the leading digital community for active people with more than 125 million athletes, in more than 190 countries. The platform offers a holistic view of your active lifestyle, no matter where you live, which sport you love and/or what device you use. Everyone belongs on Strava when they are pursuing an active life. Join the community, find motivation and discover new experiences with a Strava subscription. 
Visit www.strava.com for more information and connect with Strava on Instagram, Twitter, Facebook, YouTube and LinkedIn.
Media Contact: [email protected]
 
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Japan Data Center Market Investment to Reach $14.48 Billion by 2028 – Watch Out Exclusive Insight on Japan & Hong Kong Data Center Market – Arizton

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CHICAGO, May 16, 2024 /PRNewswire/ — Arizton publishes the latest research report on the Japan data center market and Hong Kong data center market.

The Japan Data Center Market to Witness Investments of $14.48 Billion by 2029.
Get Insights on 107 Existing Data Centers and 41 Upcoming Facilities across Japan.
The data center market in Japan is experiencing the emergence of self-built hyperscale data center facilities by major operators such as Google, Microsoft, and Amazon Web Services (AWS). This development is expected to impact the colocation market in Japan. Since these hyperscale operators store workloads in their own data center facilities, it may reduce the source of revenue generation for colocation operators.
Japan is a well-established data center market in the APAC region. The country supports investments with its macroeconomic policies and other incentives for investors. The market is witnessing several investments from local and global data center operators, further expanding its presence. Tokyo and Osaka are Japan’s major destinations for data center development, accounting for over 90% of the existing data center facilities. The government announced the offer of subsidies in Hokkaido and Kyushu for data center development and decentralize data centers from Tokyo and Osaka.
Investment Opportunities 
In October 2023, SoftBank and its subsidiary, IDC Frontier, announced the plan to develop a new data center facility in Tomakomai City, Hokkaido. The company invested around $420 million toward the project, for which it received subsidies worth $190 million from the Ministry of Economy, Trade, and Industry. In July 2023, Internet Initiative Japan (IIJ) launched its second data center building at the Shiroi data center campus in Chiba Prefecture, Greater Tokyo. Once fully built, the campus will house four data center buildings. Furthermore, the company is involved in a third expansion initiative in its Matsue City campus (which will likely go live in 2025).In June 2023, Digital Edge, in partnership with Hulic, a real estate developer, announced the start of the construction of a new data center facility, TY07, in Tokyo. The facility is expected to go online by 2025.In April 2024, GDS Services partnered with Gaw Capital to develop a new data center campus in Fuchu City, Tokyo. Both companies will jointly invest toward developing a new data center facility, with the first phase slated to go online by 2026.To Buy this Research Now, Click: https://www.arizton.com/market-reports/japan-data-center-market-investment-analysis
Existing Vs. Upcoming Data Centers
Existing Facilities in the Region (Area and Power Capacity)TokyoOsakaOther CitiesList of Upcoming Facilities in the Region (Area and Power Capacity)TokyoOsakaOther CitiesVendor Analysis
IT Infrastructure Providers: Arista Networks, Atos, Broadcom, Cisco Systems, Dell Technologies, Fujitsu, Hewlett Packard Enterprise (HPE), Hitachi Vantara, Huawei Technologies, IBM, Inspur, Lenovo, NEC, NetApp, and Oracle.
Data Center Construction Contractors & Sub-Contractors: Arup, AECOM, Daiwa House Industry, Fuji Furukawa Engineering & Construction, Hibiya Engineering, ISG, Kajima Corporation, Keihanshin Building, Linesight, MARCAI DESIGN, Meiho Facility Works, Nikken Sekkei, NTT FACILITIES, Obayashi Corporation, SHINRYO Corporation, TAISEI Corporation.
Support Infrastructure Providers: 3M, ABB, Alfa Laval, Caterpillar, Cummins, Delta Electronics, Eaton, Fuji Electric, HITEC Power Protection, Johnson Controls, Kawasaki Heavy Industries, KOHLSER-SDMO, Legrand, Mitsubishi Electric, Rittal, Rolls-Royce, Schneider Electric, STULZ, Siemens, Vertiv.
Data Center Investors: AirTrunk, Alibaba Cloud, Amazon Web Services, AT TOKYO, Colt Data Centre Services, Digital Edge, Equinix, Fujitsu, Goodman, Google, IDC Frontier, Internet Initiative Japan (IIJ), MC Digital Realty, Microsoft, NTT Communications, SCSK Corporation (NETXDC), Telehouse, Tencent Cloud, TIS INTEC Group.
New Entrants: Ada Infrastructure, Edge Centres, CyrusOne, ESR, GDS Services, Keppel Data Centres, NEXTDC, Princeton Digital Group (PDG), SC Zeus Data Center, STACK Infrastructure, ST Telemedia Global Data Centres, Vantage Data Centers, Yondr.
The Hong Kong Data Center Market will Witness Investments of $4.80 Billion by 2029.
Get Insights on 54 Existing Data Centers and 12 Upcoming Facilities across Hong Kong.
The Hong Kong data center market is booming, driven by the increasing demand for digital services. The data center investments in Hong Kong over the next two to three years are expected to remain high due to the surge in demand and the significant boost due to the advancements in AI technologies. Investors are actively investing in this market.
Hong Kong is a mature and thriving market for data center development in the APAC region. Investors find it an attractive market owing to the high internet and social media usage levels, a robust business ecosystem, and excellent connectivity through both inland and submarine cables. Additionally, the deployment of 5G technology further enhances its appeal.
Hong Kong stands out globally for the incredibly high rates of cell phone and home broadband service usage. With around 300 licensed internet service providers, there is robust competition, providing data center operators with a wide range of choices.
Hong Kong is considered an attractive destination for businesses due to various reasons. Its proximity to mainland China and its import-export relations with major markets, such as China and the US, make it easier for businesses to operate. Additionally, the market has experienced significant growth in Foreign Direct Investment (FDI), ranking after countries like the UK, the US, and China.
Investment Opportunities
In December 2023, the company completed the core and shell construction of phase-1 of the MEGA IDC data center campus. The facility has already signed lease agreements with cloud service providers and international banks for its available space. The company plans to expand the campus through phase-2 during the forecast period.In March 2023, the company launched its seventh data center facility, MEGA Gateway, in Tsuen Wan. The facility is part of its connected MEGA campus.Goodman is among the major investors in the Hong Kong market, and it is continuously expanding its data center presence. In March 2024, the company announced the construction of the new Texaco data center facility in Tsuen Wan. The facility is a brownfield construction that involved the conversion of an industrial building into a data center facility. The facility is likely to go online by 2026.Over 60% Of Future Demand to Come from Cloud Service Providers
The Hong Kong data center market has the presence of on-premises data centers operated by educational institutions, the government, and financial services such as HSBC Bank. A significant decline in on-premises data centers will occur in the next three to five years owing to the increase in digitalizing initiatives across sectors and the strong growth in demand for colocation and cloud services. In addition, most existing service providers offer managed solutions to enterprise customers, which will likely grow in the market from 2024-2029.
The market has the presence of all global cloud operators, such as Amazon Web Services (AWS), Google, Microsoft, Alibaba Cloud, Huawei Cloud, and Tencent Cloud. This will propel the demand for wholesale colocation services through these service providers’ continuous expansion initiatives. The cloud segments will likely dominate capacity take-up over the next five years. In addition, the market will witness the entry of multiple global organizations to service customers through a local presence.
To Buy this Research Now, Click: https://www.arizton.com/market-reports/hong-kong-data-center-market-size-analysis
Existing VS. Upcoming Data Centers
Existing Facilities in the Region (Area and Power Capacity)Tseung Kwan OKwai ChungTsuen WanFanlingFo TanChai WanTai PoOther LocationList of Upcoming Facilities in the Region (Area and Power Capacity)Tseung Kwan OKwai ChungTsuen WanFanlingFo TanChai WanTai PoOther LocationVendor Analysis
IT Infrastructure Providers: Arista Network, Atos, Cisco Systems, Dell Technologies, Fujitsu, Hewlett Packard Enterprise (HPE), Huawei Technologies, IBM, Inspur, Lenovo, NetApp.
Data Center Construction Contractors & Sub-Contractors: Arup, AtkinsRéalis, Aurecon, BYME Engineering, Chung Hing Engineers Group, Cundall, DSCO Group, Gammon Construction, ISG, Studio One Design.
Support Infrastructure Providers: ABB, Airedale, Caterpillar, Cummins, Delta Electronics, Eaton, Fuji Electric, KOHLER, Legrand, Mitsubishi Electric, Piller Power Systems, Rittal, Schneider Electric, Siemens, STULZ, Sumber, Vertiv.
Data Center Investors: AirTrunk, BDx, CITIC Telcom International, China Mobile International (CMI), China Unicom, Digital Realty, Equinix, ESR, GDS Services, Global Switch, Goodman, iTech Towers Data Centre Services, NTT DATA, SUNeVision Holdings (iAdvantage), Telehouse, Towngas Telecom (TGT), Vantage Data Centers.
New Entrants: Angelo Gordon and Mapletree Investments
Japan & Hong Kong Data Center Market Segmentation
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