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AMG Advanced Metallurgical Group N.V. Reports Third Quarter 2021 Results
Coronavirus Update
- Active cases at AMG remain at a very low level. We continue to apply all safety measures at our disposal with the highest degree of attention in order to ensure our employees are working in the lowest risk environment possible.
Strategic Highlights
- The construction of AMG Vanadium’s second spent catalyst recycling facility in Zanesville, Ohio, a $325 million investment and AMG’s largest capital project to date, is proceeding as planned. Commissioning starts in the first quarter of 2022 and the plant is forecast to achieve full run rate capacity in the fourth quarter of 2022.
- Spodumene 1+ will increase Brazil’s spodumene production by 40,000 tons. The project is currently in detailed engineering and commissioning is planned to start in the second quarter of 2023.
- AMG’s Supervisory Board approved the construction of the first module of a battery grade lithium hydroxide upgrader in Bitterfeld, Germany in its meeting on October 27, 2021. The total expenditure of $120 million includes the infrastructure necessary to support the next four modules. Commissioning of the facility will commence in the third quarter of 2023.
- Shell & AMG Recycling B.V. (SARBV) and its local partner, the United Company for Industry (UCI), signed a memorandum of understanding with Saudi Arabian Oil Company (Saudi Aramco) to jointly explore the feasibility of building a recycling “Supercenter” in the Kingdom of Saudi Arabia.
- AMG is building its first lithium vanadium battery (“LIVA”) for industrial power management applications. In order to manage its entrance into this market, AMG acquired Phyr7 GmbH, Heidelberg, a specialist for artificial intelligence-based power management solutions. The first LIVA system will be installed in one of AMG’s German manufacturing plants and is scheduled to be commissioned in the first quarter of 2022.
Financial Highlights
- Revenue increased by 58% to $311.9 million in the third quarter 2021 from $197.7 million in the third quarter 2020.
- EBITDA was $33.1 million in the third quarter of 2021, more than double the third quarter 2020 EBITDA of $14.1 million, marking the fifth straight quarter of sequential improvement.
- Cash from operating activities was $17.6 million in the third quarter of 2021, and $60.6 million on a year-to-date basis, more than triple the total cash from operating activities for full year 2020.
- AMG’s liquidity as of September 30, 2021, was $489 million, with $319 million of unrestricted cash and $170 million of revolving credit availability.
Amsterdam, 27 October 2021 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) reported third quarter 2021 revenue of $311.9 million, a 58% increase over $197.7 million in the third quarter of 2020. EBITDA for the third quarter of 2021 was $33.1 million, the fifth straight quarter of sequential growth after the pandemic low point in the second quarter of 2020.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “With regard to COVID, we continue to apply all safety measures at our disposal with the highest degree of attention in order to ensure our employees are working in the lowest risk environment possible.
“AMG continued to sequentially improve EBITDA in the third quarter despite negative seasonality impacts. All of AMG’s businesses are experiencing ongoing price increase and strong volumes, however the operating environment has grown more challenging, with increases in shipping times and costs and higher energy prices affecting every business unit. AMG passes these cost increases through to its customers where possible, and we will continue to actively manage these cost exposures going forward.
“All segments performed well, most notably our Clean Energy Materials segment where presently our major strategic projects are clustered. This segment continues to deliver strong EBITDA, which increased 44% over the second quarter of 2021, to $18 million, the sixth straight quarter of sequentially increasing EBITDA.
“AMG’s Clean Energy Materials segment strategic projects are proceeding as planned. Each of these projects is oriented toward growing our production of electricity storage materials and/or increasing our footprint in the circular economy, and each of these projects – the second spent catalyst recycling facility, Spodumene 1+, and the battery grade lithium hydroxide upgrader in Germany – will significantly enhance our profitability and contribute to meeting our long-term goals.
“Regarding our project execution capability, the construction of AMG Vanadium’s second spent catalyst recycling facility in Zanesville, Ohio continues to be on time and within budget. As a reminder, we have also met the spodumene production cost and yield in Brazil that was targeted at the time of the project decision. In transitioning into a high growth company through projects of this kind, execution capability is a critical success factor.
“All of these investments are consistent with our CO2 reduction strategy. Our Enabling CO2 Reduction Portfolio (ECO2RP) in 2021 will substantially outperform our 2020 CO2 enabled reduction. In addition, we are preparing comprehensive long-term direct Scope 1 and Scope 2 CO2 reduction targets which will be announced at the Annual General Meeting in May of 2022.”
Key Figures
In 000’s US dollars | |||
Q3 ‘21 | Q3 ‘20 | Change | |
Revenue | $311,946 | $197,740 | 58% |
Gross profit | 51,083 | 20,849 | 145% |
Gross margin | 16.4% | 10.5% | |
Operating profit (loss) | 17,346 | (8,687) | N/A |
Operating margin | 5.6% | (4.4%) | |
Net loss attributable to shareholders | (599) | (12,775) | 95% |
EPS – Fully diluted | (0.02) | (0.45) | 96% |
EBIT (1) | 22,475 | 3,097 | 626% |
EBITDA (2) | 33,051 | 14,143 | 134% |
EBITDA margin | 10.6% | 7.2% | |
Cash from (used in) operating activities | 17,635 | (8,393) | N/A |
Notes:
(1) EBIT is defined as earnings before interest and income taxes. EBIT excludes restructuring, asset impairment, inventory cost adjustments, environmental provisions, exceptional legal expenses, equity-settled share-based payments, and strategic expenses. Beginning January 1, 2021, AMG has altered its calculation of adjusted EBIT to no longer include the impact of foreign exchange. This alteration was made in consideration of a change in the Company’s hedging policy and to better align the reported adjusted EBITDA with the calculation for our bank covenant calculations. Starting January 2021, the Company is no longer hedging European cash pool intergroup balance sheet exposures which will result in higher volatility in our financial results from foreign exchange which we believe is not representative of our operating performance. Foreign exchange loss in the third quarter of 2021 was $2.5 million. Because of this hedging policy change, we did not retroactively apply this change to the prior year figures, otherwise it would have resulted in a decrease to the prior period EBIT of $0.9 million.
(2) EBITDA is defined as EBIT adjusted for depreciation and amortization.
Operational Review
AMG Clean Energy Materials
Q3 ‘21 | Q3 ‘20 | Change | |
Revenue | $105,308 | $56,396 | 87% |
Gross profit (loss) | 20,120 | (135) | N/A |
Gross profit before non-recurring items | 21,721 | 4,782 | 354% |
Operating profit (loss) | 9,985 | (8,269) | N/A |
EBITDA | 18,029 | 3,268 | 452% |
AMG Clean Energy Materials’ revenue increased by $48.9 million, or 87%, to $105.3 million, driven mainly by higher sales volumes of lithium concentrate, as well as higher prices in vanadium, tantalum, and lithium concentrate.
Gross profit before non-recurring items during the quarter increased by $16.9 million compared to the same period in the prior year, primarily due to the increased price environment.
SG&A expenses in the third quarter of 2021 were $10.1 million, $2.0 million higher than the third quarter of 2020 due to higher strategic project costs and increased variable compensation expense.
The third quarter 2021 EBITDA increased by $14.8 million, to $18.0 million from $3.3 million in the third quarter of 2020, due to the improved gross profit as noted above.
AMG Critical Minerals
Q3 ‘21 | Q3 ‘20 | Change | |
Revenue | $79,392 | $52,167 | 52% |
Gross profit | 10,660 | 8,642 | 23% |
Gross profit before non-recurring items | 10,843 | 8,661 | 25% |
Operating profit | 4,028 | 3,409 | 18% |
EBITDA | 6,509 | 6,562 | (1%) |
AMG Critical Minerals’ revenue increased by $27.2 million, or 52%, to $79.4 million, driven by higher sales volumes across all three businesses, and improved antimony sales prices.
Gross profit before non-recurring items increased by 25% in the third quarter due to increased revenue from each business unit. On a sequential basis, however, energy and shipping costs were higher in the third quarter of 2021 versus the second quarter of 2021, and were only partially passed on to customers.
SG&A expenses in the third quarter of 2021 increased by $1.3 million, to $6.6 million, primarily due to higher personnel costs in the current period.
The third quarter 2021 EBITDA was in line with the same period in the prior year, due to higher personnel costs offset by the improved gross profit as noted above.
AMG Critical Materials Technologies
Q3 ‘21 | Q3 ‘20 | Change | |
Revenue | $127,246 | $89,177 | 43% |
Gross profit | 20,303 | 12,342 | 65% |
Gross profit before non-recurring items | 20,293 | 13,144 | 54% |
Operating profit (loss) | 3,333 | (3,827) | N/A |
EBITDA | 8,513 | 4,313 | 97% |
AMG Critical Materials Technologies’ third quarter 2021 revenue increased by $38.1 million, or 43% compared to the same period in 2020. This increase was due to higher sales volumes of titanium aluminides and chrome metal, and higher chrome pricing. Therefore, third quarter 2021 gross profit before non-recurring items increased by $7.1 million, or 54%, to $20.3 million.
SG&A expenses increased by $0.8 million, or 5%, in the third quarter of 2021 compared to the same period in 2020, due to higher personnel costs, offset partially by lower professional fees during the quarter.
AMG Critical Materials Technologies’ EBITDA increased to $8.5 million during the quarter, compared to $4.3 million in the third quarter of 2020. This was primarily due to higher profitability related to the higher sales volumes of titanium aluminides and chrome metal as noted above.
The Company signed $27.9 million in new orders during the third quarter of 2021, representing a 0.50x book to bill ratio. This low ratio was driven mainly by timing and seasonality and is expected to be compensated by higher intake in the fourth quarter resulting in a normalized full year book to bill ratio. Order backlog was $155.1 million as of September 30, 2021, 19% lower than $190.6 million as of June 30, 2021, due largely to the delayed orders noted above as well as product mix impacts. The Company is experiencing higher volumes of smaller orders due to diversifying outside of the aerospace market, which reduces the period ending order backlog but does not indicate lower profitability levels.
Financial Review
Tax
AMG recorded an income tax expense of $9.9 million in the third quarter of 2021, compared to a nominal expense in the same period in 2020. This variance was mainly driven by improvements in operating results coupled with movements in the Brazilian real. The effects of the Brazilian real caused a $7.5 million non-cash deferred tax expense in the third quarter of 2021 (2020: $2.1 million expense). Movements in the Brazilian real exchange rate impact the valuation of the Company’s net deferred tax positions related to our operations in Brazil.
AMG paid taxes of $4.1 million in the third quarter of 2021, compared to $10.7 million in the third quarter of 2020. The third quarter 2020 payments were primarily a result of final tax payments in Germany related to the highly profitable 2018 tax year.
Profit (loss) for the period
AMG’s third quarter loss for the period of $0.3 million was negatively impacted by two significant non-cash items: (1) The Brazilian real caused a $7.5 million deferred tax expense in the third quarter of 2021. (2) Intergroup balance sheet positions associated with our European cash pooling arrangements incurred $1.8 million of foreign exchange expense (net of tax) during the third quarter of 2021. Excluding these non-cash items would have resulted in profit for the period of $9.0 million for the quarter.
Exceptional Items
AMG’s third quarter 2021 gross profit of $51.1 million includes exceptional items, which are not included in the calculation of EBITDA.
A summary of exceptional items included in gross profit in the third quarters of 2021 and 2020 are below:
Exceptional items included in gross profit
Q3 ‘21 | Q3 ‘20 | Change | |
Gross profit | $51,083 | 20,849 | 145% |
Inventory cost adjustment | — | 4,867 | (100%) |
Restructuring expense | 261 | 528 | (51%) |
Strategic project expense | 1,095 | 343 | 219% |
Others | 418 | — | N/A |
Gross profit excluding exceptional items | 52,857 | 26,587 | 99% |
During the quarter, the Company incurred expenses for expansion projects which are not yet operational. AMG is adjusting EBITDA for these exceptional charges.
Liquidity
September 30, 2021 | December 31, 2020 | Change | |
Senior secured debt | $363,058 | $364,640 | — |
Cash & cash equivalents | 319,454 | 207,366 | 54% |
Senior secured net debt | 43,604 | 157,274 | (72%) |
Other debt | 16,956 | 19,876 | (15%) |
Net debt excluding municipal bond | 60,560 | 177,150 | (66%) |
Municipal bond debt | 319,533 | 319,699 | — |
Restricted cash | 114,827 | 208,919 | (45%) |
Net debt | 265,266 | 287,930 | (8%) |
AMG had a net debt position of $265.3 million as of September 30, 2021. This decrease was mainly due to the issuance of 3.1 million shares for net proceeds of $119 million in April 2021, offset by the significant investment in growth initiatives during the quarter, especially in our vanadium expansion in Ohio, which reduced AMG’s restricted cash balance.
AMG continued to maintain a strong balance sheet and adequate sources of liquidity during the third quarter. As of September 30, 2021, the Company had $319 million in unrestricted cash and cash equivalents and $170 million available on its revolving credit facility. As such, AMG had $489 million of total liquidity as of September 30, 2021.
Net Finance Costs
AMG’s third quarter 2021 net finance costs were $7.5 million compared to $4.5 million in the third quarter of 2020. This increase was mainly driven by higher foreign exchange losses during the quarter.
AMG capitalized $3.8 million of interest costs in the third quarter of 2021, in line with prior year, driven by interest associated with the Company’s tax-exempt municipal bond supporting the vanadium expansion in Ohio.
SG&A
AMG’s third quarter 2021 SG&A expenses were $33.8 million compared to $29.6 million in the third quarter of 2020, with the variance driven largely by increased strategic project and personnel costs. The prior period personnel cost had been reduced by cost reduction efforts in response to the onset of the pandemic.
Outlook
For 2021, we reiterate our expectation to sequentially improve our EBITDA quarter-over-quarter for the year.
Given the current market conditions, we expect EBITDA to exceed $150 million for full year 2022, and we expect to reach $50 million of quarterly run-rate EBITDA by the end of 2022, as our vanadium expansion project concludes ramp-up.
Net loss to EBITDA reconciliation
Q3 ‘21 | Q3 ‘20 | |
Net loss | ($310) | ($13,644) |
Income tax expense | 9,904 | 32 |
Net finance cost (1) | 7,543 | 5,431 |
Equity-settled share-based payment transactions (2) | 1,015 | 3,212 |
Restructuring expense | 261 | 528 |
Inventory cost adjustment | — | 4,867 |
Strategic project expense (3) | 3,311 | 1,995 |
Others | 751 | 676 |
EBIT | 22,475 | 3,097 |
Depreciation and amortization | 10,576 | 11,046 |
EBITDA | 33,051 | 14,143 |
(1) See note (1) to the Key Figures table.
(2) Amount includes variable compensation expense which settled in shares in 2021.
(3) The Company is in the ramp-up phase for several strategic expansion projects, including AMG Vanadium’s expansion project, the joint venture with Shell, Hybrid Lithium Vanadium Redox Flow Battery System, and the lithium expansion in Germany, which incurred project expenses during the quarter but are not yet operational. AMG is adjusting EBITDA for these exceptional charges.
AMG Advanced Metallurgical Group N.V. | ||
Condensed Interim Consolidated Income Statement | ||
For the quarter ended September 30 | ||
In thousands of US dollars | 2021 | 2020 |
Unaudited | Unaudited | |
Continuing operations | ||
Revenue | 311,946 | 197,740 |
Cost of sales | 260,863 | 176,891 |
Gross profit | 51,083 | 20,849 |
Selling, general and administrative expenses | 33,750 | 29,619 |
Other income, net | 13 | 83 |
Net other operating income | 13 | 83 |
Operating profit (loss) | 17,346 | (8,687) |
Finance income | (357) | (1,155) |
Finance cost | 7,900 | 5,651 |
Net finance cost | 7,543 | 4,496 |
Share of loss of associates and joint ventures | (209) | (429) |
Profit (loss) before income tax | 9,594 | (13,612) |
Income tax expense | 9,904 | 32 |
Loss for the period | (310) | (13,644) |
Loss attributable to: | ||
Shareholders of the Company | (599) | (12,775) |
Non-controlling interests | 289 | (869) |
Loss for the period | (310) | (13,644) |
Loss per share | ||
Basic loss per share | (0.02) | (0.45) |
Diluted loss per share | (0.02) | (0.45) |
AMG Advanced Metallurgical Group N.V. | ||
Condensed Interim Consolidated Income Statement | ||
For the nine months ended September 30 | ||
In thousands of US dollars | 2021 | 2020 |
Unaudited | Unaudited | |
Continuing operations | ||
Revenue | 874,306 | 683,640 |
Cost of sales | 727,860 | 599,090 |
Gross profit | 146,446 | 84,550 |
Selling, general and administrative expenses | 100,075 | 91,715 |
Environmental expense | (11,711) | (55) |
Other income, net | 186 | 169 |
Net other operating (expense) income | (11,525) | 114 |
Operating profit (loss) | 34,846 | (7,051) |
Finance income | (831) | (2,446) |
Finance cost | 21,789 | 18,679 |
Net finance cost | 20,958 | 16,233 |
Share of loss of associates and joint ventures | (834) | (429) |
Profit (loss) before income tax | 13,054 | (23,713) |
Income tax expense | 3,414 | 16,134 |
Profit (loss) for the period | 9,640 | (39,847) |
Profit (loss) attributable to: | ||
Shareholders of the Company | 8,066 | (38,853) |
Non-controlling interests | 1,574 | (994) |
Profit (loss) for the period | 9,640 | (39,847) |
Earnings (loss) per share | ||
Basic earnings (loss) per share | 0.26 | (1.37) |
Diluted earnings (loss) per share | 0.26 | (1.37) |
AMG Advanced Metallurgical Group N.V. | |||
Condensed Interim Consolidated Statement of Financial Position | |||
In thousands of US dollars | September 30, 2021 Unaudited |
December 31, 2020 |
|
Assets | |||
Property, plant and equipment | 657,790 | 551,926 | |
Goodwill and other intangible assets | 41,845 | 43,207 | |
Derivative financial instruments | 144 | 1,894 | |
Other investments | 32,146 | 27,527 | |
Deferred tax assets | 57,933 | 58,081 | |
Restricted cash | 114,827 | 208,919 | |
Other assets | 9,370 | 8,496 | |
Total non-current assets | 914,055 | 900,050 | |
Inventories | 197,030 | 152,306 | |
Derivative financial instruments | 4,002 | 5,961 | |
Trade and other receivables | 146,721 | 122,369 | |
Other assets | 64,344 | 44,821 | |
Current tax assets | 6,832 | 5,108 | |
Cash and cash equivalents | 319,454 | 207,366 | |
Assets held for sale | 60 | 1,005 | |
Total current assets | 738,443 | 538,936 | |
Total assets | 1,652,498 | 1,438,986 |
AMG Advanced Metallurgical Group N.V. | ||||
Condensed Interim Consolidated Statement of Financial Position | ||||
(continued) | ||||
In thousands of US dollars | September 30, 2021 Unaudited |
December 31, 2020 |
||
Equity | ||||
Issued capital | 853 | 831 | ||
Share premium | 553,715 | 489,546 | ||
Treasury shares | (16,828) | (80,165) | ||
Other reserves | (99,292) | (110,593) | ||
Retained earnings (deficit) | (185,583) | (184,139) | ||
Equity attributable to shareholders of the Company | 252,865 | 115,480 | ||
Non-controlling interests | 27,674 | 25,790 | ||
Total equity | 280,539 | 141,270 | ||
Liabilities |
671,133 | 673,262 | ||
Lease liabilities | 44,466 | 47,092 | ||
Employee benefits | 176,580 | 197,158 | ||
Provisions | 15,170 | 15,322 | ||
Deferred revenue | 22,798 | 4,361 | ||
Other liabilities | 10,427 | 8,237 | ||
Derivative financial instruments | 3,530 | 4,389 | ||
Deferred tax liabilities | 4,620 | 5,398 | ||
Total non-current liabilities | 948,724 | 955,219 | ||
Loans and borrowings |
23,914 | 23,392 | ||
Lease liabilities | 4,690 | 4,789 | ||
Short-term bank debt | 4,500 | 7,561 | ||
Deferred revenue | 17,852 | 1,623 | ||
Other liabilities | 76,737 | 66,182 | ||
Trade and other payables | 233,648 | 164,999 | ||
Derivative financial instruments | 4,798 | 10,264 | ||
Advance payments from customers | 28,673 | 29,885 | ||
Current tax liability | 9,185 | 7,480 | ||
Provisions | 19,238 | 26,322 | ||
Total current liabilities | 423,235 | 342,497 | ||
Total liabilities | 1,371,959 | 1,297,716 | ||
Total equity and liabilities | 1,652,498 | 1,438,986 |
AMG Advanced Metallurgical Group N.V. | ||
Condensed Interim Consolidated Statement of Cash Flows | ||
For the nine months ended September 30 |
||
In thousands of US dollars | 2021 | 2020 |
Unaudited | Unaudited | |
Cash from operating activities | ||
Profit (loss) for the period | 9,640 | (39,847) |
Adjustments to reconcile net profit (loss) to net cash flows: | ||
Non-cash: | ||
Income tax expense | 3,414 | 16,134 |
Depreciation and amortization | 32,478 | 32,181 |
Asset impairment (reversal) expense | (864) | 98 |
Net finance cost | 20,958 | 16,233 |
Share of loss of associates and joint ventures | 834 | 429 |
(Gain) loss on sale or disposal of property, plant and equipment | (96) | 248 |
Equity-settled share-based payment transactions | 3,143 | 5,956 |
Movement in provisions, pensions, and government grants | (3,267) | (7,468) |
Working capital and deferred revenue adjustments | 17,908 | 7,813 |
Cash generated from operating activities | 84,148 | 31,777 |
Finance costs paid, net | (14,960) | (14,261) |
Income tax paid | (8,625) | (9,255) |
Net cash from operating activities | 60,563 | 8,261 |
Cash used in investing activities | ||
Proceeds from sale of property, plant and equipment | 1,071 | 48 |
Acquisition of property, plant and equipment and intangibles | (125,366) | (77,042) |
Investments in associates and joint ventures | (1,000) | (1,000) |
Change in restricted cash | 94,092 | 68,436 |
Interest received on restricted cash | 33 | 1,107 |
Capitalized borrowing cost | (15,608) | (15,134) |
Other | (428) | 25 |
Net cash used in investing activities | (47,206) | (23,560) |
AMG Advanced Metallurgical Group N.V. | ||
Condensed Interim Consolidated Statement of Cash Flows | ||
(continued) | ||
For the nine months ended September 30 | ||
In thousands of US dollars | 2021 | 2020 |
Unaudited | Unaudited | |
Cash from (used in) financing activities | ||
Proceeds from issuance of debt | 2,644 | 7,684 |
Payment of transaction costs related to debt | (390) | – |
Repayment of borrowings | (8,047) | (2,997) |
Net proceeds from issuance (repurchase of) common shares | 121,569 | (638) |
Dividends paid | (7,598) | (9,513) |
Payment of lease liabilities | (3,939) | (3,308) |
Contributions by non-controlling interests | 648 | 557 |
Net cash from (used in) financing activities | 104,887 | (8,215) |
Net increase (decrease) in cash and cash equivalents | 118,244 | (23,514) |
Cash and cash equivalents at January 1 | 207,366 | 226,218 |
Effect of exchange rate fluctuations on cash held | (6,156) | 3,376 |
Cash and cash equivalents at September 30 | 319,454 | 206,080 |
This press release contains inside information within the meaning of Article 7(1) of the EU Market
Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets
Supervision Act (Wet op het financieel toezicht).
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Clean Energy Materials combines our recycling and mining operations producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. Clean Energy Materials spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies combines our leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals consists of our mineral processing operations in antimony, graphite, and silicon metal.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.
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Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
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“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
RepTrak Announces 2024 Global RepTrak® 100 Report
BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
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Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
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