Plastic Bank’s communities stop four billion bottles equivalent plastic from reaching the ocean

30,000+ collection members exchanged ocean-bound plastic waste for life-improving benefits

Plastic Bank collection community member in Bali, Indonesia
Sarito, a Plastic Bank collection community member, collects plastic waste using his collection cart around a residential area in Denpasar, Bali, Indonesia

VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) — Plastic Bank has empowered communities around the globe to stop 80 million kilograms of plastic, the equivalent of 4 billion bottles, from reaching the ocean. This milestone is achieved in the year when the social enterprise celebrates its 10th anniversary.

As Plastic Bank enters its second decade, its mission to turn off the tap to ocean plastic evolves into a Social Recycling movement that enables people to become the change they seek in our world.

“Plastic pollution cannot be solved by impact contributions and the use of recycled materials alone. This quest has to be human-powered where we strive for perpetual behavioural change and become mindful of our impact on our planet,” said David Katz, Founder & Chairman, Plastic Bank. “Our 10th anniversary is the beginning of a new era where we become the Humans of Social Recycling – humans who believe that the creation of a wasteless world starts with us.”

Shaun Frankson, Co-Founder & Chief Technology Officer, Plastic Bank, added: “Everyone has a role to play in creating an authentic and sustainable impact. It’s up to each of us to take responsibility for our actions and help create a future where ocean plastic and poverty do not exist, to begin with.”

“We would like to thank our communities, partners, collection members, branch owners, processors, and employees for being part of the Social Recycling movement. But this is just the beginning. Together, we will continue to reveal value, improve lives, create circular and sustainable opportunities for people and the planet,” said Benjamin Lavoie, CEO, Plastic Bank.

Today, Plastic Bank and its communities have mobilized over 500 recycling communities in Southeast Asia, Latin America, and Africa, and helped more than 30,000 members to pave a path out of poverty with the support of over 170 partners, including SC Johnson, Henkel, Advansa, CooperVision, and Davines.

Join Plastic Bank’s Social Recycling movement at plasticbank.com.

About Plastic Bank

Plastic Bank envisions a wasteless world. We empower the Social Recycling movement that stops ocean plastic and helps alleviate poverty. Our collection communities exchange plastic waste as currency for income and life-improving benefits. Exchanges are recorded through our proprietary blockchain-secured platform that enables traceable collection, secures income, and verifies reporting. Collected material is processed into Social Plastic® feedstock for reuse in products and packaging.

PlasticBank® and Social Plastic® are trademarks of The Plastic Bank Recycling Corporation.

Learn more at plasticbank.com.

Additional Resources for Editor

10th Anniversary Interview with David Katz, Founder and Chairman of Plastic Bank: https://www.youtube.com/watch?v=r5CSNPOQSgI
10th Anniversary Video on the Humans of Social Recycling: https://youtu.be/nyKtE89uD-w

Contact

Esh Engao
E: estee@plasticbank.com
Ph: +1 604 263 7443 ext. 704

Melissa Cape
E: melissa@plasticbank.com
Ph: +1 604 561 4977

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98e64801-548c-4446-9bae-7f61ba1ea969

GlobeNewswire Distribution ID 8833716

Nyxoah to Participate in the Oppenheimer 33rd Annual Healthcare Conference

Nyxoah to Participate in the Oppenheimer 33rd Annual Healthcare Conference

Mont-Saint-Guibert, Belgium – March 7, 2023, 10:30pm CET / 4:30pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced that the Company will participate in the Oppenheimer 33rd Annual Healthcare Conference, which takes place March 13-15, 2023, virtually.

Olivier Taelman, Nyxoah’s Chief Executive Officer, will deliver a corporate update on Tuesday, March 14, 2023, at 11:20am ET. A webcast of the presentation will be available in the Events section of Nyxoah’s Investor Relations website. The Company will also be available for 1×1 meetings with institutional investors.

Nyxoah’s Investor Presentation can be accessed on the Shareholder Information section of the Company’s Investor Relations page.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Contact:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

GlobeNewswire Distribution ID 1000796826

Ingredion Incorporated Reports 13% Net Sales Growth in the Fourth Quarter and Strong Full-Year 2022 Results

  • Fourth quarter 2022 reported and adjusted EPS* were $1.71 and $1.65, respectively, compared to fourth quarter 2021 reported and adjusted EPS of $0.99 and $1.09
  • Full year 2022 reported and adjusted EPS* were $7.34 and $7.45, respectively, compared to full year 2021 reported and adjusted EPS of $1.73 and $6.67
  • In 2022, the Company returned $288 million to shareholders and increased the dividend rate by 9%
  • The Company expects full-year 2023 reported and adjusted EPS to be in the range of $7.70-$8.40

WESTCHESTER, Ill., Feb. 08, 2023 (GLOBE NEWSWIRE) — Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the fourth quarter and full year of 2022. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for 2022 and 2021, include items that are excluded from the non-GAAP financial measures that the Company presents.

“For 2022, Ingredion delivered outstanding performance, with top line and profit both growing double digits,” said Jim Zallie, Ingredion’s president and chief executive officer. “Throughout the year, our teams demonstrated resilience and agility as they overcame macroeconomic headwinds while executing against our Driving Growth Roadmap while also expanding and transforming our solutions and opportunity set with customers.

“For the fourth quarter, Ingredion’s net sales were up 13% driven by strong performance for both core and specialty ingredients. We effectively managed strong demand for texturizing, sugar reduction and higher-value industrial applications through both customer and product mix management and pricing. These actions combined with expanded raw material risk management and improved supply chain conditions drove increased year-over-year gross margins.

“Specialty ingredients once again delivered strong double-digit growth, with net sales higher across all four regions versus last year. Notably, we completed one-third of our planned $160 million multi-year global capacity expansion for specialty starches to strengthen our leadership position in texturizing of foods,” Zallie continued. “I am especially proud of the work our team did ramping up production at our new Shandong, China facility, despite widespread Covid related challenges. With the expanded capacity, our business in China is well-positioned for accelerated growth as the economy reopens. Additionally, we acquired a specialty ingredient pharma business in India that broadens our capabilities to serve this growing and attractive high value market.

“Following our contracting season, having worked with customers to balance their demand requirements amidst rising input costs, we anticipate another year of double-digit sales growth. Given the resiliency of our business model, the diversification of our products and customer base, and track record of disciplined capital allocation, we are confident in Ingredion’s ability to deliver sustainable growth and create value for our shareholders,” Zallie concluded.

*Adjusted diluted earnings per share (“adjusted EPS”), adjusted operating income, adjusted effective income tax rate and adjusted diluted weighted average common shares outstanding are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled “Non-GAAP Information” following the Condensed Consolidated Financial Statements included in this news release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures.

Diluted Earnings Per Share (EPS)

4Q21 4Q22 FY2021 FY2022
Reported EPS $0.99 $1.71 $1.73 $7.34
Restructuring/Impairment costs 0.28 0.53 0.05
Acquisition/Integration costs 0.01 0.06 0.10 0.08
Impairment*** 5.01
Tax items and other matters (0.19) (0.12) (0.70) (0.02)
Adjusted EPS** $1.09 $1.65 $6.67 $7.45

Estimated factors affecting changes in Reported and Adjusted EPS

4Q22 FY2022
Total items affecting EPS** 0.56 0.78
Total operating items 0.62 1.12
Margin 0.82 1.70
Volume (0.09) (0.23)
Foreign exchange (0.10) (0.33)
Other income (0.01) (0.02)
Total non-operating items (0.06) (0.34)
Other non-operating income (0.01) (0.01)
Financing costs (0.15) (0.23)
Shares outstanding 0.02 0.09
Non-controlling interests 0.01 (0.02)
Tax rate 0.07 (0.17)

**Totals may not foot due to rounding; ***Related to the Argentina joint venture, 2021 reported results reflect a $340 million assets held for sale impairment charge, net of a $20 million favorable adjustment made in the third quarter of 2021, including $311 million of cumulative translation losses.

Financial Highlights

  • At December 31, 2022, total debt and cash including short-term investments were $2.5 billion and $239 million, respectively, versus $2.0 billion and $332 million, respectively, at December 31, 2021.
  • Reported net financing costs for the fourth quarter were $34 million versus $16 million for the year-ago period.
  • Reported and adjusted effective tax rates for the fourth quarter were 7.3 percent and 20.1 percent, respectively, compared to 12.8 percent and 24.2 percent, respectively, for the year-ago period. The decrease in reported tax rate resulted primarily from South American non-taxable incentives, partially offset by favorable judgments related to the treatment of interest and credits on Brazil indirect taxes in the fourth quarter of 2021.
  • Full-year net capital expenditures were $293 million, up $11 million from the year-ago period.

Business Review

Total Ingredion
Net Sales

$ in millions 2021 FX
Impact
Volume Argentina JV
Volume
*
Price mix 2022 Change Change
excl. FX
Fourth quarter 1,755 (65) (39) 0 336 1,987 13% 17%
Full year 6,894 (201) 117 (146) 1,282 7,946 15% 18%

* Related to the Argentina joint venture closing in third quarter 2021; 2021 reported results were part of the transferred business

Reported Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
Acquisition /
Integration
Restructuring / Impairment Other 2022 Change Change
excl. FX
Fourth quarter 86 (9) 64 2 25 (11) 157 83% 93%
Full year 310 (30) 132 2 43 305 762 146% 155%

Adjusted Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
2022 Change Change
excl. FX
Fourth quarter 113 (9) 64 168 49% 57%
Full year 685 (30) 132 787 15% 19%

Net Sales

  • Fourth quarter and full-year net sales were up from the year-ago period. The increase for the fourth quarter was driven by strong price mix, partially offset by foreign currency impacts and lower volumes. For the full year, price mix was partially offset by foreign currency impacts. Excluding foreign exchange impacts, net sales were up 17% for the quarter and 18% for the full year.

Operating Income

  • Fourth quarter reported operating income increased 83% to $157 million and adjusted operating income increased 49% to $168 million over the same period in the prior year. The increases were driven by favorable price mix and expanded raw material risk management. Excluding foreign exchange impacts, reported and adjusted operating income were up 93% and 57%, respectively, from the same period last year.
  • Full-year reported and adjusted operating income were $762 million and $787 million, respectively, an increase of 146% and 15%, from the prior year. The increase in reported operating income was attributable to the prior year’s held for sale impairment charge related to the Argentina joint venture. The increase in adjusted operating income was driven by strong price mix that more than offset higher corn and input costs. Excluding foreign exchange impacts, reported and adjusted operating income were up 155% and 19%, respectively, from the prior year.

North America
Net Sales

$ in millions 2021 FX
Impact
Volume Price
mix
2022 Change Change
excl. FX
Fourth quarter 1,041 (7) (15) 195 1,214 17% 17%
Full year 4,137 (17) 33 781 4,934 19% 20%

Segment Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
2022 Change Change
excl. FX
Fourth quarter 84 (2) 40 122 45% 48%
Full year 487 (3) 81 565 16% 17%
  • Fourth quarter operating income for North America was $122 million, an increase of $38 million from the year-ago period, and full-year operating income was $565 million, an increase of $78 million from the prior year. For both the quarter and full year, the increase was driven by favorable price mix and expanded raw material risk management.

South America
Net Sales

$ in millions 2021 FX
Impact
Volume Argentina
JV Volume
*
Price
mix
2022 Change Change
excl. FX
Fourth quarter 256 (5) (10) 0 48 289 13% 15%
Full year 1,057 (7) 20 (146) 200 1,124 6% 7%

* Related to the Argentina joint venture closing in third quarter 2021; 2021 reported results were part of the transferred business

Segment Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
2022 Change Change
excl. FX
Fourth quarter 30 (2) 16 44 47% 53%
Full year 138 (2) 33 169 22% 24%
  • Fourth quarter operating income for South America was $44 million, an increase of $14 million from the year-ago period, and full-year operating income was $169 million, an increase of $31 million from the prior year. For both the quarter and full year, the increases were driven by favorable price mix, partially offset by higher corn and input costs. Excluding foreign exchange impacts, segment operating income was up 53% and 24%, respectively, for the fourth quarter and full year.

Asia-Pacific
Net Sales

$ in millions 2021 FX
Impact
Volume Price
mix
2022 Change Change
excl. FX
Fourth quarter 269 (25) (8) 46 282 5% 14%
Full year 997 (79) 48 141 1,107 11% 19%

Segment Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
2022 Change Change
excl. FX
Fourth quarter 17 (2) 8 23 35% 47%
Full year 87 (9) 15 93 7% 17%
  • Fourth quarter operating income for Asia-Pacific was $23 million, up $6 million from the year-ago period, and full-year operating income was $93 million, up $6 million compared to the prior year. For both the quarter and full year, the change was driven by favorable price mix that was partially offset by foreign exchange impacts. Excluding foreign exchange impacts, segment operating income was up 47% and 17%, respectively, for the fourth quarter and full year.

Europe, Middle East, and Africa (EMEA)
Net Sales

$ in millions 2021 FX
Impact
Volume Price
mix
2022 Change Change
excl. FX
Fourth quarter 189 (28) (6) 47 202 7% 22%
Full year 703 (98) 16 160 781 11% 25%

Segment Operating Income

$ in millions 2021 FX
Impact
Business
Drivers
2022 Change Change
excl. FX
Fourth quarter 20 (3) 3 20 0% 15%
Full year 106 (16) 20 110 4% 19%
  • Fourth quarter operating income for EMEA was $20 million, flat with the year-ago period, and full-year operating income was $110 million, up $4 million from the prior year. For both the quarter and full year, favorability in Europe was partially offset by conditions in Pakistan and foreign exchange impacts across the region. Excluding foreign exchange impacts, fourth quarter and full-year segment operating income were up 15% and 19%, respectively.

Dividends and Share Repurchases
For the full year of 2022, the Company paid total dividends of $181 million, and in the fourth quarter declared a quarterly dividend of $0.71 per share payable in the first quarter of 2023. During 2022, the Company repurchased $112 million of outstanding shares of common stock, for a total of 1.3 million shares. Ingredion considers return of value to shareholders through cash dividends and share repurchases as part of its capital allocation strategy to support total shareholder return.

2023 Full-Year Outlook
The Company expects its outlook for full-year 2023 reported and adjusted EPS to be in the range of $7.70 to $8.40. This expectation excludes acquisition-related integration and restructuring costs, as well as any potential impairment costs.

The Company expects full-year 2023 net sales to be up mid-double-digits and adjusted operating income to be up high single-digits to low double-digits.

Compared to last year, the 2023 full-year outlook assumes the following: North America operating income is expected to be up low double-digits, driven by favorable price mix partially offset by higher input costs; South America operating income is expected to be up low single-digits, with favorable price mix mostly offsetting higher input costs; Asia-Pacific operating income is expected to be up mid-double-digits, driven by favorable price mix and PureCircle growth, partially offset by higher input costs; and EMEA operating income is expected to be up mid-single-digits as we navigate foreign exchange impacts. Corporate costs are expected to be up low single-digits.

For full-year 2023, the Company expects a reported and adjusted effective tax rate of 26.5 percent to 28.5 percent.

Cash from operations for full-year 2023 is expected to be in the range of $550 million to $650 million, which reflects an anticipated increase in our working capital balances. Capital expenditures for the full year are expected to be approximately $300 million.

Conference Call and Webcast Details
Ingredion will host a conference call on Wednesday, February 8, 2023, at 8 a.m. Central Time / 9 a.m. Eastern Time, hosted by Jim Zallie, president and chief executive officer, and Jim Gray, executive vice president and chief financial officer. The call will be webcast in real time and can be accessed at https://ir.ingredionincorporated.com/events-and-presentations. A presentation containing additional financial and operating information will be accessible through the Company’s website, and available to download a few hours prior to the start of the call. A replay will be available for a limited time at https://ir.ingredionincorporated.com/financial-information/quarterly-results.

About the Company
Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2022 annual net sales of $7.9 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion’s Idea Labs® innovation centers around the world and approximately 12,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

Forward-Looking Statements

This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

Forward-looking statements include, among others, any statements regarding the Company’s expectations for full-year 2023 net sales, adjusted operating income, reported and adjusted EPS, segment operating income, reported and adjusted effective tax rates, cash flow from operations, and capital expenditures, and any other statements regarding the Company’s prospects and its future operations, financial condition, net sales, operating income, volumes, corporate costs, tax rates, capital expenditures, cash flows, expenses or other financial items, including management’s plans or strategies and objectives for any of the foregoing, and any assumptions, expectations or beliefs underlying any of the foregoing.

These statements can sometimes be identified by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “propels,” “opportunities,” “potential,” “provisional,” or other similar expressions or the negative thereof. All statements other than statements of historical facts in this news release or referred to in this news release are “forward-looking statements.”

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond our control. Although we believe our expectations expressed or implied in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct.

Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various risks and uncertainties, including the impact of COVID-19 on the demand for our products and our financial results; changing consumption preferences relating to high fructose corn syrup and other products we make; the effects of global economic conditions and the general political, economic, business, and market conditions that affect customers and consumers in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products, including, particularly, economic, currency, and political conditions in South America and economic and political conditions in Europe, and the impact these factors may have on our sales volumes, the pricing of our products and our ability to collect our receivables from customers; future purchases of our products by major industries which we serve and from which we derive a significant portion of our sales, including, without limitation, the food, beverage, animal nutrition, and brewing industries; the uncertainty of acceptance of products developed through genetic modification and biotechnology; our ability to develop or acquire new products and services at rates or of qualities sufficient to gain market acceptance; increased competitive and/or customer pressure in the corn-refining industry and related industries, including with respect to the markets and prices for our primary products and our co-products, particularly corn oil; the availability of raw materials, including potato starch, tapioca, gum Arabic, and the specific varieties of corn upon which some of our products are based, and our ability to pass along potential increases in the cost of corn or other raw materials to customers; energy costs and availability, including energy issues in Pakistan; our ability to contain costs, achieve budgets, and realize expected synergies, including with respect to our ability to complete planned maintenance and investment projects on time and on budget as well as with respect to freight and shipping costs; the effects of climate change and legal, regulatory, and market measures to address climate change; our ability to successfully identify and complete acquisitions or strategic alliances on favorable terms as well as our ability to successfully integrate acquired businesses or implement and maintain strategic alliances and achieve anticipated synergies with respect to all of the foregoing; operating difficulties at our manufacturing facilities; the behavior of financial and capital markets, including with respect to foreign currency fluctuations, fluctuations in interest and exchange rates and market volatility and the associated risks of hedging against such fluctuations; effects of the conflict between Russia and Ukraine, including impacts on the availability and prices of raw materials and energy supplies and volatility in exchange and interest rates; our ability to attract, develop, motivate, and maintain good relationships with our workforce; the impact on our business of natural disasters, war, threats or acts of terrorism, the outbreak or continuation of pandemics such as COVID-19, or the occurrence of other significant events beyond our control; the impact of impairment charges on our goodwill or long-lived assets; changes in government policy, law, or regulation and costs of legal compliance, including compliance with environmental regulation; changes in our tax rates or exposure to additional income tax liability; increases in our borrowing costs that could result from increased interest rates; our ability to raise funds at reasonable rates and other factors affecting our access to sufficient funds for future growth and expansion; security breaches with respect to information technology systems, processes, and sites; volatility in the stock market and other factors that could adversely affect our stock price; risks affecting the continuation of our dividend policy; and our ability to maintain effective internal control over financial reporting.

Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see “Risk Factors” and other information included in our Annual Report on Form 10-K for the year ended December 31, 2021, our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, and our subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.

Ingredion Incorporated
Condensed Consolidated Statements of Income
(Unaudited)

(in millions, except per share amounts) Three Months Ended
December 31,
Change
%
Twelve Months Ended
December 31,
Change
%
2022 2021 2022 2021
Net sales $ 1,987 $ 1,755 13 % $ 7,946 $ 6,894 15 %
Cost of sales 1,636 1,465 6,452 5,563
Gross profit 351 290 21 % 1,494 1,331 12 %
Operating expenses 187 184 2 % 715 668 7 %
Other operating expense (income) 9 (5 ) 13 (34 )
Restructuring/impairment charges and related adjustments (2 ) 25 4 387
Operating income 157 86 83 % 762 310 146 %
Financing costs 34 16 99 74
Other non-operating (income) (1 ) (8 ) (5 ) (12 )
Income before income taxes 124 78 59 % 668 248 169 %
Provision for income taxes 9 10 166 123
Net income 115 68 69 % 502 125 302 %
Less: Net income attributable to non-controlling interests 1 1 10 8
Net income attributable to Ingredion $ 114 $ 67 70 % $ 492 $ 117 321 %
Earnings per common share attributable to Ingredion common shareholders:
Weighted average common shares outstanding:
Basic 65.8 66.8 66.2 67.1
Diluted 66.7 67.6 67.0 67.8
Earnings per common share of Ingredion:
Basic $ 1.73 $ 1.00 73 % $ 7.43 $ 1.74 327 %
Diluted $ 1.71 $ 0.99 73 % $ 7.34 $ 1.73 324 %

Ingredion Incorporated
Condensed Consolidated Balance Sheets

(in millions, except share and per share amounts) December 31,
2022
December 31,
2021
(Unaudited)
Assets
Current assets
Cash and cash equivalents $ 236 $ 328
Short-term investments 3 4
Accounts receivable – net 1,411 1,130
Inventories 1,597 1,172
Prepaid expenses 62 63
Total current assets 3,309 2,697
Property, plant and equipment – net 2,407 2,423
Intangible assets – net 1,301 1,348
Other assets 544 531
Total assets $ 7,561 $ 6,999
Liabilities and equity
Current liabilities
Short-term borrowings $ 543 $ 308
Accounts payable and accrued liabilities 1,339 1,204
Total current liabilities 1,882 1,512
Long-term debt 1,940 1,738
Other non-current liabilities 477 524
Total liabilities 4,299 3,774
Share-based payments subject to redemption 48 36
Redeemable non-controlling interests 51 71
Equity
Ingredion stockholders’ equity:
Preferred stock — authorized 25,000,000 shares — $0.01 par value, none issued
Common stock — authorized 200,000,000 shares — $0.01 par value, 77,810,875 issued at December 31, 2022 and December 31, 2021 1 1
Additional paid-in capital 1,132 1,158
Less: Treasury stock (common stock: 12,116,920 and 11,154,203 shares at December 31, 2022 and December 31, 2021, respectively) at cost (1,148 ) (1,061 )
Accumulated other comprehensive loss (1,048 ) (897 )
Retained earnings 4,210 3,899
Total Ingredion stockholders’ equity 3,147 3,100
Non-redeemable non-controlling interests 16 18
Total equity 3,163 3,118
Total liabilities and equity $ 7,561 $ 6,999

Ingredion Incorporated
Condensed Consolidated Statements of Cash Flows
(Unaudited)

(in millions) Twelve Months Ended December 31,
2022 2021
Cash provided by operating activities:
Net income $ 502 $ 125
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 215 220
Mechanical stores expense 55 55
Impairment on disposition of assets 340
Deferred income taxes (3 ) (61 )
Margin accounts (44 ) (32 )
Changes in other trade working capital (620 ) (248 )
Other 47 (7 )
Cash provided by operating activities 152 392
Cash used for investing activities:
Capital expenditures and mechanical stores purchases (300 ) (300 )
Proceeds from disposal of manufacturing facilities and properties 7 18
Payments for acquisitions, net of cash acquired (29 ) (40 )
Other 2 (13 )
Cash used for investing activities (320 ) (335 )
Cash provided by (used for) financing activities:
Proceeds from borrowings, net 293 (390 )
Commercial paper borrowings, net 140 250
(Repurchases) of common stock, net (103 ) (49 )
Purchases of non-controlling interests (46 )
Dividends paid, including to non-controlling interests (181 ) (184 )
Cash provided by (used for) financing activities 103 (373 )
Effect of foreign exchange rate changes on cash (27 ) (21 )
Decrease in cash and cash equivalents (92 ) (337 )
Cash and cash equivalents, beginning of period 328 665
Cash and cash equivalents, end of period $ 236 $ 328

Ingredion Incorporated
Supplemental Financial Information
(Unaudited)

I. Geographic Information of Net Sales and Operating Income

(in millions, except for percentages) Three Months Ended
December 31,
Change Change
Excl. FX
Twelve Months Ended
December 31,
Change Change
Excl. FX
2022 2021 2022 2021
Net Sales
North America $ 1,214 $ 1,041 17 % 17 % $ 4,934 $ 4,137 19 % 20 %
South America 289 256 13 % 15 % 1,124 1,057 6 % 7 %
Asia-Pacific 282 269 5 % 14 % 1,107 997 11 % 19 %
EMEA 202 189 7 % 22 % 781 703 11 % 25 %
Total Net Sales $ 1,987 $ 1,755 13 % 17 % $ 7,946 $ 6,894 15 % 18 %
Operating Income
North America $ 122 $ 84 45 % 48 % $ 565 $ 487 16 % 17 %
South America 44 30 47 % 53 % 169 138 22 % 24 %
Asia-Pacific 23 17 35 % 47 % 93 87 7 % 17 %
EMEA 20 20 % 15 % 110 106 4 % 19 %
Corporate (41 ) (38 ) (8 )% (8 )% (150 ) (133 ) (13 )% (13 )%
Sub-total 168 113 49 % 57 % 787 685 15 % 19 %
Acquisition/integration costs (2 ) (1 ) (3 )
Restructuring/impairment charges (25 ) (4 ) (47 )
Impairment on disposition of assets (340 )
Other matters (11 ) (20 ) 15
Total Operating Income $ 157 $ 86 83 % 93 % $ 762 $ 310 146 % 155 %

II. Non-GAAP Information

To supplement the consolidated financial results prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), we use non-GAAP historical financial measures, which exclude certain GAAP items such as acquisition and integration costs, restructuring and impairment costs, Mexico tax (benefit) provision, and other specified items. We generally use the term “adjusted” when referring to these non-GAAP amounts.

Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of our operating results and trends for the periods presented. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. These non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Non-GAAP financial measures are not prepared in accordance with GAAP; so our non-GAAP information is not necessarily comparable to similarly titled measures presented by other companies. A reconciliation of each non-GAAP financial measure to the most comparable GAAP measure is provided in the tables below.

Ingredion Incorporated
Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to
Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS
(Unaudited)

Three Months Ended
December 31, 2022
Three Months Ended
December 31, 2021
Twelve Months Ended
December 31, 2022
Twelve Months Ended
December 31, 2021
(in millions) Diluted EPS (in millions) Diluted EPS (in millions) Diluted EPS (in millions) Diluted EPS
Net income attributable to Ingredion $ 114 $ 1.71 $ 67 $ 0.99 $ 492 $ 7.34 $ 117 $ 1.73
Add back:
Acquisition/integration costs (i) 4 0.06 1 0.01 5 0.08 7 0.10
Restructuring/impairment charges (ii) 19 0.28 3 0.05 36 0.53
Impairment on disposition of assets (iii) 340 5.01
Other matters (iv) 8 0.12 (12 ) (0.18 ) 15 0.22 (22 ) (0.32 )
Fair value adjustments to equity investments (v) (5 ) (0.07 ) (5 ) (0.07 )
Tax item – Mexico (vi) (2 ) (0.03 ) 2 0.03 (4 ) (0.06 ) 6 0.09
Other tax matters (vii) (14 ) (0.21 ) 2 0.03 (12 ) (0.18 ) (27 ) (0.40 )
Non-GAAP adjusted net income attributable to Ingredion $ 110 $ 1.65 $ 74 $ 1.09 $ 499 $ 7.45 $ 452 $ 6.67

Net income, EPS and tax rates may not foot or recalculate due to rounding.

Notes

(i) During the three and twelve months ended December 31, 2022, we recorded $4 million and $5 million, respectively, of pre-tax acquisition and integration charges primarily related to our investment in the Argentina joint venture. During the three and twelve months ended December 31, 2021, we recorded pre-tax acquisition and integration charges of $2 million and $3 million, respectively, for our acquisitions of the PureCircle, KaTech and Verdient Foods businesses, as well as our investments with the Amyris and Argentina joint ventures.

(ii) During the twelve months ended December 31, 2022, we recorded $4 million of remaining pre-tax restructuring-related charges for the Cost Smart programs. During the three and twelve months ended December 31, 2021, we recorded pre-tax restructuring-related charges of $25 million and $47 million, respectively, primarily related to our Cost Smart programs.

(iii) During the twelve months ended December 31, 2021, we recorded a $340 million net asset impairment charge related to the contribution of Ingredion’s Argentina operations to the Argentina joint venture.

(iv) During the three and twelve months ended December 31, 2022, we recorded pre-tax charges of $11 million and $20 million, respectively, primarily related to the impacts of a U.S.-based work stoppage. During the twelve months ended December 31, 2021, we recorded a pre-tax benefit of $15 million for certain indirect tax credits that the Brazilian Supreme Court affirmed in May 2021 that we are entitled to receive.

(v) During the three and twelve months ended December 31, 2021, we recorded a net pre-tax fair value adjustment of $6 million to our equity investments.

(vi) We recorded tax benefits of $2 million and $4 million for the three and twelve months ended December 31, 2022, respectively, and tax provisions of $2 million and $6 million for the three and twelve months ended December 31, 2021, respectively, as a result of the movement of the Mexican peso against the U.S. dollar and its impact on the remeasurement of our Mexico financial statements during the periods.

(vii) In the fourth quarter of 2022, we recognized an income tax benefit of $20 million for certain Brazilian state grants we received between 2018 and 2021, which were previously taxable. Other adjustments relate to the impacts of prior year tax liabilities and contingencies, as well as the tax results of the above non-GAAP addbacks.

Ingredion Incorporated
Reconciliation of GAAP Operating Income to Non-GAAP Adjusted Operating Income
(Unaudited)

(in millions, pre-tax) Three Months Ended
December 31,
Twelve Months Ended
December 31,
2022 2021 2022 2021
Operating income $ 157 $ 86 $ 762 $ 310
Add back:
Acquisition/integration costs (i) 2 1 3
Restructuring/impairment charges (ii) 25 4 47
Impairment on disposition of assets (iii) 340
Other matters (iv) 11 20 (15 )
Non-GAAP adjusted operating income $ 168 $ 113 $ 787 $ 685

For notes (i) through (iv), see notes (i) through (iv) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated
Reconciliation of GAAP Effective Income Tax Rate to Non-GAAP Adjusted Effective Income Tax Rate
(Unaudited)

(in millions) Three Months Ended December 31, 2022 Twelve Months Ended December 31, 2022
Income before
Income Taxes (a)
Provision for
Income Taxes (b)
Effective Income
Tax Rate (b/a)
Income before
Income Taxes (a)
Provision for
Income Taxes (b)
Effective Income
Tax Rate (b/a)
As Reported $ 124 $ 9 7.3 % $ 668 $ 166 24.9 %
Add back:
Acquisition/integration costs (i) 4 5
Restructuring/impairment charges (ii) 4 1
Other matters (iv) 11 3 20 5
Tax item – Mexico (vi) 2 4
Other tax matters (vii) 14 12
Adjusted Non-GAAP $ 139 $ 28 20.1 % $ 697 $ 188 27.0 %
(in millions) Three Months Ended December 31, 2021 Twelve months ended December 31, 2021
Income before
Income Taxes (a)
Provision for
Income Taxes (b)
Effective Income
Tax Rate (b/a)
Income before
Income Taxes (a)
Provision for
Income Taxes (b)
Effective Income
Tax Rate (b/a)
As Reported $ 78 $ 10 12.8 % $ 248 $ 123 49.6 %
Add back:
Acquisition/integration costs (i) 2 1 3 (3 )
Restructuring/impairment charges (ii) 25 6 47 11
Impairment on disposition of assets (iii) 340
Other matters (iv) 12 (15 ) 7
Fair value adjustments to equity investments (v) (6 ) (1 ) (6 ) (1 )
Tax item – Mexico (vi) (2 ) (6 )
Other tax matters (vii) (2 ) 27
Adjusted Non-GAAP $ 99 $ 24 24.2 % $ 617 $ 158 25.6 %

For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

CONTACTS:
Investors: Noah Weiss, 773-896-5242
Media: Becca Hary, 708-551-2602

GlobeNewswire Distribution ID 8744941

Philips announces new milestones in the development of the world’s first spectral detector angio CT solution

September 7, 2022

  • Leiden University Medical Center joins global network of partners in the development of Philips Spectral Angio CT suite and its use in clinical research, bringing spectral CT imaging technology into an integrated hybrid angio CT suite with the aim of innovating a range of treatment procedures
  • CIRSE 2022 presentation by University of Insubria (Varese, Italy) details positive results of study that uses spectral CT to better guide lung tumor biopsies  
  • Philips and University of Pennsylvania announce collaboration to investigate spectral CT guidance during interventional oncology procedures and its potential to confirm treatment effectiveness in real time

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced new milestones in the development of the world’s first spectral detector angio CT solution – Philips Spectral Angio CT suite – bringing the company’s breakthrough spectral CT imaging technology into an integrated hybrid angio CT suite. By combining its award-winning [1] Spectral CT 7500 system and its Image Guided Therapy System – Azurion with FlexArm – in a fully integrated interventional suite solution, Philips aims to give physicians immediate access to these two key imaging modalities in a single room, enabling innovation in minimally-invasive procedures in areas such as oncology, stroke, and trauma care.

Philips today announced a new clinical partner and highlighted clinical studies that focus on the added value of using spectral CT imaging technology during interventional procedures.

Expanding Philips’ clinical network
Leiden University Medical Center (Leiden, the Netherlands) has joined Philips’ global network of clinical partners to investigate how its spectral detector angio CT solution could potentially offer new treatment opportunities and improve patient care.

“We are excited to co-create an innovation that could play a defining role in improving patient care in the space of interventional oncology,” said Mark Burgmans, MD, Head of Interventional Radiology at Leiden University Medical Center. “Adding spectral CT imaging to the interventional suite will enable us to offer new treatment opportunities, avoid moving patients from one imaging suite to another, and offer the unique benefits of spectral CT information when you need it.”

Other leading clinical institutes that Philips is working with on this innovation are Mayo Clinic (Rochester, MN, U.S.) and Baptist Health’s Miami Cardiac & Vascular Institute (Miami, FL, U.S.).

Philips Spectral Angio CT suite combines the company’s latest diagnosis and treatment technologies. Philips Image Guided Therapy System – Azurion with FlexArm – is the company’s next-generation image-guided therapy platform, integrating best in class imaging systems, software, and specialized diagnostic and therapeutic devices to support exceptional treatment for the most complex procedures. The addition of Philips’ award-winning Spectral CT 7500 system means physicians only need one scan to capture all the spectral information required to differentiate and quantify different tissues. Spectral CT enables improved detection, delineation, and quantification of lesions, leading to better-informed planning for minimally-invasive procedures and more precise interventions. It has already proved its worth in other areas of oncology – for example, it has demonstrated higher sensitivity in detecting malignant findings and improved readings of incidental findings [2][3]. With its ability to improve tissue characterization, the Spectral CT 7500 offers significant benefits over conventional CT.

Through continuous research, Philips is building clinical evidence that supports the added value of spectral CT imaging for diagnosis and treatment guidance.

Research results show better targeted biopsies using spectral CT guidance
At this year’s Cardiovascular and Interventional Radiological Society of Europe Annual Meeting (CIRSE 2022, September 10-14, Barcelona, Spain) a presentation is being given by Filippo Piacentino, interventional radiologist at the University of Insubria (Varese, Italy), on the value of spectral CT imaging guidance for performing high-confidence tumor biopsies [4]. The results being presented illustrate the potential for Philips’ spectral CT technology to better guide biopsies by distinguishing between active and non-active regions in a tumor. Ensuring that a biopsy contains a high number of actively dividing cancer cells is important for high-confidence diagnosis.

“With conventional CT, large masses may appear as a largely uniform mass, making highly targeted biopsy difficult,” said Filippo Piacentino. “By fusing images from Philips’ XperGuide live needle guidance with images from spectral CT, that are color-coded based on the effective atomic number of tissues and provide a large amount of additional information, we can now investigate the possibility of obtaining better defined biopsy targets with a fewer number of inconclusive biopsies.”

New clinical collaboration on reduction of the risk of tumor recurrence
Philips also today announced a research collaboration with the University of Pennsylvania (Pennsylvania, PA, U.S.) to study the practicality of using spectral CT-based tissue temperature mapping to provide real-time feedback during tumor thermal ablation procedures to confirm its effectiveness before the patient leaves the room. This will potentially reduce the risk of localized tumor recurrence.

“Announcing these important milestones in the development of our unique Philips Spectral Angio CT suite shows our strong commitment and progress in co-creating the future of image-guided therapy,” said Karim Boussebaa, General Manager of Image Guided Therapy Systems at Philips. “By combining the best of our award-winning modalities into a single suite we aim to unlock new treatment approaches that could benefit both patients and their physicians.”

Visit Philips at CIRSE 2022
To learn more about Philips Spectral Angio CT suite, visit Philips at CIRSE 2022 and join the Philips symposia in which leading physicians will share their latest clinical insights on using this new imaging approach in interventional oncology. You can register via our dedicated CIRSE 2022 webpage.

[1] Minnie Award for Best New Radiology Device
[2] Analysis by Aarhus University Hospital Aarhus, Denmark. Results from case studies are not predictive of results in other cases. Results in other cases may vary.
[3] Analysis by University Hospital Cleveland, USA. Results from case studies are not predictive of results in other cases. Results in other cases may vary.
[4] Filippo Piacentino, ‘Spectral CT as innovative imaging guidance in large lesions lung biopsies. XperGuide and Z-effective fusion for more defined targets, more diagnostic samplings and more biomarkers information’. CIRSE 2022

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 6 10 55 8116
Email: joost.maltha@philips.com

Fabienne van der Feer
Philips Image Guided Therapy
Tel.: +31 622 698 001
E-mail: fabienne.van.der.feer@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Atlas Magnetics, Co. announces new thin-film magnetic material 

Highly layered magnetic material is compatible with semiconductor packaging 

RENO, Nev., Sept. 06, 2022 (GLOBE NEWSWIRE) — Atlas Magnetics, Co., “AM,” is a Nevada-based fabless semiconductor company focused on advance material deposition on standard semiconductor packaging film to create unique IC solutions. AM announces a high-performance magnetic material to reduce the size of the magnetic components used in consumer and IoT electronic circuits effectively removing the inductor from the PCB in applications such as DC/DC power conversion.

AM solves the problem of direct integration of magnetics into integrated circuits “chips” by electroplating highly layered magnetic alloys directly on semiconductor epoxy packaging films for short connection to the semiconductor die using standard IC bumping processes.

This long-desired concept of using available semiconductor manufacturing processes to remove discrete components, such as inductors and transformers, was previously hindered by cost, frequency response, and incompatible processes. However, this development resolves these barriers while delivering the promised size reductions and performance enhancements by magnetic material deposition at temperatures and pressures compatible with semiconductor packaging.

“While layering magnetic materials to create high frequency, high efficiency cores is nothing new, what’s new is how to cost effectively create micron to sub-micron layering. This is accomplished by reducing the process steps per layer from 13 to just 4. This simplified process allows new magnetic materials to be engineered for frequency (60 MHz or greater) and Qs (up to 35) with layering up to 60+ layers,” stated Atlas Magnetics CEO, John McDonald. “When these 0.2 to 0.4 mm cores are used in a finished inductor or transformer, values of up to 1 μH for lower power applications, and for high-power reduced inductance applications current densities of up to 10A/mm2 can be achieved.

In fact, the layering can be so fine as to yield materials with unique mechanical and electrical parameters. This opens new avenues of research for novel materials not previously economically feasible.”

More information: www.atlasmagnetics.com

About Atlas Magnetics, Co.
Atlas Magnetic, Co., a Nevada corporation, was Series A funded in late July 2021 with $22.8M raised. AM has since grown to 40+ employees located around the world with primary research being conducted at the Nevada Center for Applied Research (NCAR) located at the University of Nevada, Reno (UNR).

Atlas Magnetics, Co.
Media Contact: 
May Teeratrakoonchai
may@atlasmagnetics.com
408-502-4093

Port of Tanjung Pelepas Collaborates With Navis to Optimize RTG Fleet

Solution provides visibility, intelligence and operational control to optimize rubber tire gantry crane fleet utilization and reduce TEU handling costs

Port of Tanjung Pelepas
Port of Tanjung Pelepas collaborates with Navis on technology innovation to optimize operations and enhance visibility across all RTGs in its yard and upcoming jobs at its terminal, reducing TEU handling costs.

ATLANTA , Sept. 07, 2022 (GLOBE NEWSWIRE) — Navis, a leading global provider of port and terminal operating systems and carrier and vessel technology solutions, today announced Port of Tanjung Pelepas successfully implemented Navis RTG Optimization to improve utilization of its rubber tire gantry crane fleet and reduce handling costs per TEU. RTG Optimization processes multiple dynamic business rules and complex operating constraints to automate execution decisions, increase crane productivity and improve operating efficiency.

As one of the world’s busiest container ports and Malaysia’s largest container terminal with an annual capacity of 12.5 million TEUs, Port of Tanjung Pelepas operates state-of-the-art facilities that include 172 rubber tire gantry cranes to manage container stacking on-site. Port of Tanjung Pelepas is a joint venture between MMC Corporation and APM Terminals, a leading global ports group. PTP is one of the first APMT terminals to implement Navis RTG Optimization.

“We are excited to partner with Port of Tanjung Pelepas and APMT to support their business goals,” said Kirk Knauff, CEO of Navis. “RTG Optimization is an example of the innovation we are driving in our execution platform to unlock new value for our customers.”

As the premier global provider of terminal operating systems, Navis’s deep domain knowledge, implementation agility and ease of partnership enabled successful implementation and delivery of RTG Optimization at Port of Tanjung Pelepas.

Marco Neelsen, Chief Executive Officer of Port of Tanjung Pelepas said, “The transition of digitalization and automation is speeding up in the entire maritime industry. To secure efficient, sustainable operations and business competitiveness, PTP has proactively invested in its assets and infrastructure aligned with the PTP ESG agenda and digital strategy roadmap. PTP is committed to continue with the journey and further create sustainable value for our customers, shareholders and other stakeholders.”

Joe Schofield, Chief Operating Officer of Port of Tanjung Pelepas said, “Digitalization is the way of the future, and our goal is to use technology to create a safer work environment for our workforce while simultaneously improving our efficiency, productivity, and customer experience.

“Our recent accomplishment in becoming the first port in Malaysia to surpass the 1 million TEUs handling mark in a month is a good example of how enhanced visibility across all RTGs in our yard and upcoming jobs at our terminal, enable us to take strategic action to enhance our efficiency, crane productivity and truck turnaround time. This simultaneously provides our workforce with an advanced tool to continue delivering best-in-class service for our customers.”

About Navis, LP
Navis, the premier port and terminal operating system and provider of carrier and vessel technology solutions, combines industry best practices with innovative technology and world-class services to enable customers, regardless of cargo type, to maximize performance and reduce risk. Through a holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations.

About the Port of Tanjung Pelepas
The Port of Tanjung Pelepas (PTP) is Malaysia’s largest container terminal. The port delivers reliable, efficient and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad extensive connectivity to the global market.

PTP is a joint venture between MMC Corporation Berhad (70%), a leading utilities and infrastructure group and APM Terminals (30%), a leading global ports group with a global port network in 62 countries.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0f7d11e6-8909-4a49-816d-3e2d7ddf1db8

Media Contact:
Suzy Swindle
sswindle@kaleris.com / suzy.swindle@navis.com

Brian May, Jane Goodall, Diane Ackerman and the NASA Communications Unit Announced as Winners of the Stephen Hawking Medal at STARMUS VI Armenia

Brian May wins Stephen Hawking Medal

YEREVAN, Armenia, Sept. 06, 2022 (GLOBE NEWSWIRE) — Some of the most influential names in science, music and arts have been named as the latest Laureates of the Stephen Hawking Medal for Science Communication at STARMUS VI festival.

The winners are Diane Ackerman, poet and essayist; Dr. Jane Goodall, DBE, Founder of the Jane Goodall Institute & UN Messenger of Peace; and the NASA Communications Unit.

In addition, a special Stephen Hawking Medal will be presented to STARMUS co-founder and Queen guitarist Dr. Brian May at the request of the Advisory Board and petitions of STARMUS alumni, including Nobel laureates, astronauts and science communicators. The award reflects Dr. May’s outstanding contribution to both music and to the public understanding of science.

Brian May was presented with the award by legendary keyboardist Rick Wakeman, who played at a special ‘Sonic Universe’ concert at the festival, alongside System of a Down’s Serj Tankian, astronaut Chris Hadfield and supergroup Sons of Apollo. He also played tribute to Freddie Mercury on stage, on what would have been his 76th birthday.

The Stephen Hawking Science Medal are prestigious international awards that recognise the merit and importance of popular science at an international level. The medal is named after Professor Stephen Hawking, who was also its first recipient, and is organised by STARMUS, an international science and art festival that this year is taking place in Yerevan, Armenia.

Previous winners have included Hans Zimmer, Elon Musk, Neil de Grasse Tyson, Jim Al-Khalili, Jean Michel Jarre and Buzz Aldrin.

The design of the medal is a portrait of Professor Hawking by cosmonaut Alexei Leonov, the first man to perform a spacewalk and member of the Advisory Council for STARMUS since its first edition.

The medals will be presented at a special ceremony at STARMUS tomorrow, 6 Sept. 2022.

Professor Garik Israelian, co-founder and director of STARMUS Festival, says, “These medals were created with the support of Stephen Hawking to celebrate those outstanding individuals and teams who honour his legacy in communicating scientific ideas and breakthroughs to inform, inspire and engage the widest possible audience. We congratulate all those receiving medals today as they join the growing list of prestigious Stephen Hawking Medal Laureates.

Stephen Hawking Medal Winner Diane Ackerman says: “I’m deeply honored and delighted to receive this medal from such a distinguished gathering of curious and creative minds. That Starmus encompasses both the Arts and the Sciences makes it especially meaningful to me, since I’ve always been a writer–in poetry and prose–who is enthralled by the sciences. Science and art share the same spark of curiosity, the same fire of invention.

Marc Etkind, NASA Associate Administrator for Communications, says: “It is a great honour for everyone at NASA to receive this prestigious award. Our mission at NASA is to explore the unknown in air and space, to innovate for the benefit of humanity, and inspire the world through discovery.” 

Stephen Hawking Medal winner Dr. Brian May says, “First of all, I want to pay tribute to Freddie; it’s amazing to receive this extraordinary present on his birthday! Thank you so much to the board; this medal really means so much to me. STARMUS reflects so much about what I passionately believe in, that science and art do not live in isolation; to be a great scientist without being something of an artist, and you can’t be an artist without something of an understanding of the universe we live in. Thank you Stephen Hawking for this medal and award, and Rick Wakeman, for the introduction, as I didn’t know I am that person.” 

STARMUS this year is being held in Armenia and dedicated to the 50th anniversary of the first soft landing on Mars by “Mars 3” and the first orbiter “Mariner 9”. “Mariner 9” took the first high-quality images of Mars while “Mars 3” brought the first rover, Prop-M, to the surface of Mars. It was founded to create a platform that unites world-renowned scientists, Nobel Prize laureates, astronauts, and the brightest minds in science, art and technology. The festival enables them to share their experience, knowledge and the latest inventions with attendees, helping to inspire people across the globe to explore the world of science.

Armenia was chosen for its long and impressive history of astronomy, astrophysics and space exploration. For much of the 20th century, it was home to the Soviet space programme, and to this day, it remains a key location for the international community, housing The Byurakan Astrophysical Observatory and the Aragatz Station.

The Stephen Hawking Medal press conference with Laureates is at 2.30pm AMT/ 11.30am BST / 6.30am  EDT

For more information and interview opportunities, please contact Four Communications

caroline.jones@fourcommunications.com |

nathaniel.ashley@fourcommunications.com |

The Stephen Hawking Medal press conference with Laureates will take place at 2.30pm AMT/ 11.30am BST / 6.30am EDT. To request accreditation to join, please email starmus@fourcommunications.com

Related Images

Image 1: Brian May wins Stephen Hawking Medal

(L-R) Rick Wakeman, Brian May, Garik Israelian

This content was issued through the press release distribution service at Newswire.com.

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Over 480 Million People Estimated to Have COPD, World’s Third Deadliest Disease, ResMed Study Reports

  • New prevalence figure 22–126% higher than previous estimates
  • Prevalence expected to reach 592 million by 2050
  • Researchers urge global action on smoking cessation and air pollution reduction

BARCELONA, Spain, Sept. 04, 2022 (GLOBE NEWSWIRE) — Over 480 million people worldwide likely suffer from chronic obstructive pulmonary disease, or COPD, according to a late-breaking abstract led by ResMed (NYSE: RMD, ASX: RMD) presented at the European Respiratory Society Congress today.1

This figure is 22–126% higher than today’s most cited estimates, which range from 212–392 million reported over the past decade.2,3,4

COPD is a chronic, progressive disease that restricts a person’s ability to breathe. Early-stage sufferers may use inhaled medications to reduce symptoms. Advanced stages may require supplemental oxygen or mechanical ventilation in the home or hospital.

COPD-related healthcare utilization and lost productivity costs European Union countries an estimated €48.4 billion per year.5 In the United States, COPD-related hospitalizations alone cost over $3 billion a year.6

ResMed’s global analysis combined known cases of COPD plus likely cases based on known risk factors, such as smoking, and other indoor and outdoor air pollution.

Researchers expect that number to reach an estimated 592 million by 2050 if current risk factor trends continue.

“This number should be a warning,” said study co-author and ResMed Chief Medical Officer Carlos M. Nunez, M.D. “It should urge doctors to be more vigilant in screening and testing, since early treatment can enhance quality of life and longevity; urge people and their loved ones to learn and spot symptoms early; urge payers to help everyone take these proactive steps; and frankly inspire stronger, more immediate action to lower risk factors for COPD like smoking and air pollution.

“In less than a generation, we’re headed north of 600 million cases globally,” Nunez continued. “But we can curb that number and help save millions of lives with education and meaningful action.”

Am I at risk for COPD?

Leading causes of COPD are:7

  • Smoking
  • Long-term exposure to air pollutants, including dust, fumes, or chemicals
  • A rare heredity gene defect called alpha-1 antitrypsin deficiency, which your doctor can test you for

COPD symptoms

Ask your doctor if you or a loved one is experiencing:8

  • Increased shortness of breath
  • Frequent coughing or wheezing, with or without mucus
  • Daytime fatigue
  • Chest tightness

ResMed recently led a global research effort to update the world’s estimated prevalence of obstructive sleep apnea (OSA): 936 million, nearly tenfold higher than the previous figure. Lancet Respiratory Medicine published the findings in 2019.9

About ResMed
At ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 140 countries. To learn more, visit ResMed.com and follow @ResMed.

References
1 Boers E et al. ERJ Suppl (ERS Congress late breaking abstract) 2022
2 GBD 2019 Murray C J L et al. (2020)
3 Adeloye D et al. J Glob Health 2015
4 Adeloye D et al. Lancet Respir Med 2022
5 « The economic burden of lung disease ». Eur Lung (Accessed 18 August 2022)
6 Perera PN et al. COPD 2012
7 COPD Foundation. https://www.copdfoundation.org/What-is-COPD/Understanding-COPD/What-Causes-COPD.aspx (Accessed 30 August 2022)
8 COPD Foundation https://www.copdfoundation.org/What-is-COPD/Understanding-COPD/What-is-COPD.aspx (Accessed 30 August 2022)
9 Benjafield AV et al. Lancet Respir Med 2019

For media For investors
Kristin Deuber Amy Wakeham
+1.614.975.4186 +1 858.836.5000
resmed@allisonpr.com investorrelations@resmed.com

In Europe: resmedEUnews@allisonpr.com