Day: November 17, 2021

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Sportradar Announces Strong Third Quarter 2021 Financial Results

SANKT GALLEN, Switzerland, Nov. 17, 2021 (GLOBE NEWSWIRE) — Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or “the Company”), a leading global technology platform enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its third quarter ended September 30, 2021.

Third Quarter 2021 Highlights

  • Revenue in the third quarter of 2021 increased 30% compared to the third quarter of 2020 to €136.8 million ($158.7 million)1, driven by robust growth across all geographies and business segments
  • Continued strong performance in the U.S. market with U.S. revenue in the third quarter of 2021 increasing by 119% compared to the third quarter of 2020. For the nine months ended September 30, 2021 the U.S. revenue reached €48.5 million ($56.3 million)1
  • Adjusted EBITDA* in the third quarter of 2021 was up 21% compared to the third quarter of 2020 to €20.9 million ($24.2 million)1
  • Strong Dollar-Based Net Retention Rate* of 128% at the end of third quarter of 2021, underscoring the continued success of our cross-sell and upsell strategy
  • Successfully extended our partnership through 2028 with FanDuel Group, a leader in the U.S. sports betting market, covering pre-match betting services, live betting services, and betting entertainment tools
  • Completed successful listing on Nasdaq, raising €546 million of primary net proceeds to fund continued growth in the business, providing the Company with €878 million to continue to invest in global growth
  • For the full-year 2021, we expect revenue to be in the range of €553 to €555 ($641 to $644)1 million and Adjusted EBITDA* in the range of €99.5 to 101.5 ($115.4 to $117.7)1 million.

 

Q3
 Q3
 Change
2021
 2020
 %
Revenue €136.8 €105.3 +30%
Adjusted EBITDA* €20.9 €17.3 +21%
Adjusted EBITDA margin* 15% 16% -7%
Dollar-Based Net Retention Rate* 128% 114% +12%
Adjusted Free Cash Flow* €32.9 €13.5 +144%
Cash Flow Conversion* 158% 78% +102%

_____________________
1 For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on September 30, 2021, which was €1.00 to $1.16.
* Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.

Carsten Koerl, Chief Executive Officer of Sportradar said: “Our strong results demonstrate the value we provide to our partners and customers around the world. We are the largest provider of sports intelligence in the world and the only profitable global sports technology platform of scale. Critically, we believe we are also the most innovative in developing technology solutions that enable our league customers, media and betting partners to use our ever-increasing data to attract and engage sports fans.”

Koerl continued, “We plan to continue to make significant investments, particularly in the U.S. The U.S. represents the primary area of focus to execute on our strategic growth plans, as the U.S. region is currently only 7 percent of our group revenues, representing a significant potential business opportunity as more states legalize betting and the market expands from $1 billion in 2019 to an estimated $23 billion in the next 10 years. Our recent Nasdaq listing in the U.S. was a tremendous milestone for our team, and we look forward to building on our success in a multitude of areas in the years ahead.”

Financial Highlights for the Three Months Ended September 30, 2021

  • Revenue in the third quarter of 2021 increased by 30% compared to the third quarter of 2020 to €136.8 million
  • Adjusted EBITDA* in the third quarter of 2021 increased by 21% compared to the third quarter of 2020 to €20.9 million
  • Adjusted EBITDA margin* remains strong at 15% in the third quarter of 2021, a slight decrease compared to the third quarter 2020 due to additional IPO costs of approximately €5.7 million which were incurred in the third quarter of 2021. Eliminating the impact of IPO costs would result in an Adjusted EBITDA margin of 20%, illustrating our continuous ability to achieve operating leverage
  • Dollar-Based Net Retention Rate* increased from 114% to 128% for the comparable twelve month period ending at September 30, 2020 and 2021 demonstrating continued execution of our upsell and cross-sell strategy and underscoring the quality of the products and services we provide our customers
  • Adjusted Free Cash Flow* in the third quarter of 2021 increased by 144% to €32.9 million which resulted in a Group Cashflow conversion of 158%
  • Cash totaled €768.4 million as of September 30, 2021. Total liquidity available for use at September 30, 2021, including undrawn credit facilities was €878.4 million
  • Total Debt at September 30, 2021 was €436.7 million resulting in a net cash position of €331.7 million

Segment Information

RoW Betting

  • Segment revenue in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to €78.6 million. This growth was driven primarily by uptake in our higher value-add offerings including Managed Betting Services and Live Odds Services, which increased by 63% and 20% respectively, as a result of new customers wins as well as increased turnover2 and volume.
  • Segment Adjusted EBITDA* in the third quarter of 2021 increased by 36% compared to the third quarter of 2020 to €44.7 million. The Segment Adjusted EBITDA margin* improved from 52% to 57% in the third quarter of 2021 driven by growth in higher margin products.

_____________________
2 Turnover is the total amount of stakes placed and accepted in betting.

RoW AV

  • Segment revenue increased in the third quarter of 2021 by 13% compared to the third quarter of 2020 to €29.0 million.  This growth was impacted by COVID related schedule changes in 2020, when more matches than usual were played in Q3 2020.  Adjusting for schedule changes Q3 2021 growth was approximately 30%, driven by volume growth as we were able to sell more matches (such as Soccer and Baseball) as well as growth from additional, new content (such as Copa America, Horse Racing and eSports) being sold to existing and new customers.
  • Segment Adjusted EBITDA* in the third quarter of 2021 increased by 220% compared to the third quarter of 2020 to €9.6 million. The Segment Adjusted EBITDA margin* improved from 12% to 33% in the third quarter of 2021 driven by lower cost of some content.

United States

  • Segment revenue in the third quarter of 2021 increased by 119% compared to the third quarter of 2020 to €19.6 million. This result was driven by growth in our US Betting services and increased revenue from our customers as the underlying market and turnover grew. We also experienced strong adoption of our ad:s product, growth in US Media and a positive impact from the acquisition of Synergy Sports in the second quarter of 2021.
  • Segment Adjusted EBITDA* in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to -€(6.6) million. The Segment Adjusted EBITDA margin* improved from (-60%) to (-34%) in the third quarter of 2021 which reflects the scalability of this business and clear path to profitability while continuing to invest in the US market.

Costs and Expenses

  • Personnel expenses in the third quarter of 2021 increased by €20.0 million compared to the third quarter of 2020 to €51.3 million resulting from additional hires in new business lines (2.849 FTE in the third quarter of 2021 vs 2.235 FTE in the third quarter of 2020), stock-based compensation, and reversal of temporary COVID 19 cost savings in the third quarter of 2021 compared to the third quarter of 2020.
  • Other Operating expenses in the third quarter of 2021 increased by €15.7 million compared to the third quarter of 2020 to €25.2 million mainly driven by incurred costs for IPO, compliance costs relating to operating as a publicly listed company in the US and M&A costs.
  • Total Sport rights costs in the third quarter of 2021 decreased by €9.0 million compared to the third quarter of 2020 to €28.7 million resulting from fewer major sporting events in the third quarter of 2021 compared to the third quarter of 2020.
  • Adjusted EBITDA* in the third quarter of 2021 was negatively impacted by IPO costs of €5.7 million. Eliminating this impact would result in an Adjusted EBITDA* of €26.6 million.

Recent Business Highlights

  • Issued and sold 19 million shares in connection with the closing of our IPO on Nasdaq raising €546 million of primary net proceeds
  • Signed integrity partnerships with leading sports leagues and federations such as cricket’s Tamil Nadu Premier League (TNPL), Badminton Europe and the Austrian Tennis Association
  • Secured a multi-year exclusive official data and media rights deal with Ligue Nationale de Basket (LNB), France’s top basketball league
  • Implemented full Computer Vision models for Grand Slam tennis events including Wimbledon and US open
  • Combined newly developed AI tools with our Managed Trading Services, Sportradar’s holistic trading service for sportsbook operators, to more accurately detect potential betting related match-fixing
  • Announced partnership extension with US market leader FanDuel Group through 2028
  • Announced a five-year deal with US betting and iGaming operator, Bally’s Interactive, to help support and grow sportsbook operations in the US
  • Celebrated three wins at the EGR B2B Awards in the Best Customer Service and Live Streaming Supplier categories, as well as the recently acquired Fresh Eight being shortlisted for Best Marketing and PR Supplier

Financial Outlook

For the full-year 2021, the Company currently expects:

  • Revenue in the range of €553 million to €555 million, representing growth of 36.6% to 37.1% for fiscal 2021
  • Adjusted EBITDA* in the range of €99.5 million to €101.5 million, representing growth of 29.4% to 32.0% for fiscal 2021

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the third quarter 2021 financial results on November 17, 2021 at 8:00 a.m. Eastern Time (“ET”). The conference call can be accessed live over the phone by dialing 1-877-423-9813, or for international callers 1-201-689-8573. A replay will be available from 11:00 a.m. ET on November 17, 2021 through November 24, 2021, by dialing 1-844-512-2921, or for international callers 1-412-317-6671. The replay passcode will be 13724560.

The call will also be webcast live from Sportradar’s investor relations website at https://investors.sportradar.com/. Following the completion of the call, a recorded replay of the webcast will be available on the website.

About Sportradar

Sportradar is the leading global sports technology company creating immersive experiences for sports fans and bettors. Established in 2001, the company is well-positioned at the intersection of the sports, media and betting industries, providing sports federations, news media, consumer platforms and sports betting operators with a range of solutions to help grow their business. Sportradar employs more than 2,800 full time employees across 19 countries around the world. It is our commitment to excellent service, quality and reliability that makes us the trusted partner of more than 1,600 customers in over 120 countries and an official partner of the NBA, NHL, MLB, NASCAR, UEFA, FIFA, ICC and ITF. We cover more than 750,000 events annually across 83 sports. With deep industry relationships, Sportradar is not just redefining the sports fan experience; it also safeguards the sports themselves through its Integrity Services division and advocacy for an integrity-driven environment for all involved.

Sportradar and the Sportradar logo are registered trademarks of Sportradar. All other third-party trademarks and logos contained in this press release are the property of their respective owners.

CONTACT

Press Contact:
Sandra Lee
sandra.lee@sportradar.com
comms@sportradar.com

Investor Relations:
Solebury Trout for Sportradar
Ed Yuen
eyuen@soleburytrout.com
Ankit Hira
ahira@soleburytrout.com

Non-IFRS Financial Measures and Operating Metrics
We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Free Cash Flow and Cash Flow Conversion (together, the “Non-IFRS financial measures”), as well as operating metrics, including Dollar-Based Net Retention Rate. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors.
Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS. Investors are encouraged to review the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures provided in the financial statement tables included below in this press release.

  • “Adjusted EBITDA” represents profit (loss) for the period adjusted for share based compensation, depreciation and amortization (excluding amortization of sports rights), impairment of intangible assets, other financial assets and equity-accounted investee, loss from loss of control of subsidiary, finance income and finance costs, and income tax (expense) benefit.
    License fees relating to sport rights are a key component of how we generate revenue and one of our main operating expenses. Such license fees are presented either under purchased services and licenses or under depreciation and amortization, depending on the accounting treatment of each relevant license. Only licenses that meet the recognition criteria of IAS 38 are capitalized. The primary distinction for whether a license is capitalized or not capitalized is the contracted length of the applicable license. Therefore, the type of license we enter into can have a significant impact on our results of operations depending on whether we are able to capitalize the relevant license. Our presentation of Adjusted EBITDA removes this difference in classification by decreasing our EBITDA by our amortization of sports rights. As such, our presentation of Adjusted EBITDA reflects the full costs of our sports rights licenses. Management believes that, by deducting the full amount of amortization of sport rights in its calculation of Adjusted EBITDA, the result is a financial metric that is both more meaningful and comparable for management and our investors while also being more indicative of our ongoing operating performance.
    We present Adjusted EBITDA because management believes that some items excluded are non-recurring in nature and this information is relevant in evaluating the results of the respective segments relative to other entities that operate in the same industry. Management believes Adjusted EBITDA is useful to investors for evaluating Sportradar’s operating performance against competitors, which commonly disclose similar performance measures. However, Sportradar’s calculation of Adjusted EBITDA may not be comparable to other similarly titled performance measures of other companies. Adjusted EBITDA is not intended to be a substitute for any IFRS financial measure.
    Items excluded from Adjusted EBITDA include significant components in understanding and assessing financial performance. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation, or as an alternative to, or a substitutes for, profit for the period, revenue or other financial statement data presented in our consolidated financial statements as indicators of financial performance. We compensate for these limitations by relying primarily on our IFRS results and using Adjusted EBITDA only as a supplemental measure.
  • “Adjusted EBITDA margin” is the ratio of Adjusted EBITDA to revenue.
  • “Adjusted Free Cash Flow” represents net cash from operating activities adjusted for payments for lease liabilities, acquisition of property and equipment, acquisition of intangible assets (excluding certain intangible assets required to further support an acquired business). We consider Adjusted Free Cash Flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchase of property and equipment, of intangible assets and payment of lease liabilities, which can then be used to, among other things, to invest in our business and make strategic acquisitions. A limitation of the utility of Adjusted Free Cash Flow as a measure of liquidity is that it does not represent the total increase or decrease in our cash balance for the year.
  • “Cash Flow Conversion” is the ratio of Adjusted Free Cash Flow to Adjusted EBITDA.

In addition, we define our operating metrics as follows:

  • “Dollar-Based Net Retention Rate” is calculated for a given period by starting with the reported Trailing Twelve Month revenue, which includes both subscription-based and revenue sharing revenue, from our top 200 customers as of twelve months prior to such period end, or Prior Period revenue. We then calculate the reported Trailing Twelve Month revenue from the same customer cohort as of the current period end, or Current Period revenue. Current Period revenue includes any upsells and is net of contraction and attrition over the trailing twelve months, but excludes revenue from new customers in the current period. We then divide the total Current Period revenue by the total Prior Period revenue to arrive at our Dollar-Based Net Retention Rate.

The Company is unable to provide a reconciliation of Adjusted EBITDA to profit (loss) for the period, its most directly comparable IFRS financial measure, on a forward- looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to foreign exchange gains and losses. Such information may have a significant, and potentially unpredictable, impact on the Company’s future financial results.

Safe Harbor for Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements and information within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events, including, without limitation, statements regarding future financial or operating performance, planned activities and objectives, anticipated growth resulting therefrom, market opportunities, strategies and other expectations, and expected performance for the full year 2021. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: economy downturns and political and market conditions beyond our control; the global COVID-19 pandemic and its adverse effects on our business; dependence on our strategic relationships with our sports league partners; effect of social responsibility concerns and public opinion on responsible gaming requirements on our reputation; potential adverse changes in public and consumer tastes and preferences and industry trends; potential changes in competitive landscape, including new market entrants or disintermediation; potential inability to anticipate and adopt new technology; potential errors, failures or bugs in our products; inability to protect our systems and data from continually evolving cybersecurity risks, security breaches or other technological risks; potential interruptions and failures in our systems or infrastructure; our ability to comply with governmental laws, rules, regulations, and other legal obligations, related to data privacy, protection and security; ability to comply with the variety of unsettled and developing U.S. and foreign laws on sports betting; dependence on jurisdictions with uncertain regulatory frameworks for our revenue; changes in the legal and regulatory status of real money gambling and betting legislation for our customers; our inability to maintain or obtain regulatory compliance in the jurisdictions in which we conduct our business; our ability to obtain, maintain, protect, enforce and defend our intellectual property rights; our ability to obtain and maintain sufficient data rights from major sports leagues, including exclusive rights; material weaknesses identified in our internal control over financial reporting; inability to secure additional financing in a timely manner, or at all, to meet our long-term future capital needs; risks related to future acquisitions; and other risk factors set forth in the section titled “Risk Factors” in our prospectus pursuant to Rule 424(b) filed with the Securities and Exchange Commission on September 15, 2021, and other documents filed with or furnished to the SEC, accessible on the SEC’s website at www.sec.gov and on our website at https://investors.sportradar.com. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

 

SPORTRADAR GROUP AG
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(Expressed in thousands of Euros – except for per share data)
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2020 2021 2020 2021
Revenue 105,294 136,765 296,894 408,837
Purchased services and licenses (excluding depreciation and amortization) (26,220 ) (29,413 ) (63,476 ) (85,977 )
Internally-developed software cost capitalized 1,433 3,219 4,588 9,136
Personnel expenses (31,366 ) (51,333 ) (86,985 ) (136,777 )
Other operating expenses (9,561 ) (25,176 ) (27,486 ) (60,117 )
Depreciation and amortization (27,962 ) (27,182 ) (80,870 ) (91,271 )
Impairment of intangibles assets (26,184 ) – (26,184 ) –
Impairment of equity-accounted investee (4,578 ) – (4,578 ) –
Impairment loss on trade receivables, contract assets and other financial assets (984 ) (657 ) (3,031 ) (759 )
Share of income (loss) of equity-accounted investees 167 (397 ) (876 ) (1,487 )
Finance income 12,705 1,574 22,140 14,592
Finance costs (8,739 ) (13,390 ) (21,437 ) (36,839 )
Net income (loss) before tax (15,995 ) (5,990 ) 8,699 19,338
Income tax (expense) benefit 1,012 (3,047 ) (3,451 ) (10,724 )
Profit (loss) for the period (14,983 ) (9,037 ) 5,248 8,614
Other Comprehensive Income / (loss)
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit liability 17 18 52 54
Related deferred tax income (2 ) (3 ) (8 ) (9 )
15 15 44 45
Items that may be reclassified subsequently to profit or loss
Foreign currency translation adjustment 1,736 (1,207 ) 1,813 (590 )
Foreign currency translation adjustment attributable to non-controlling interests 124 (85 ) 130 (183 )
1,860 (1,292 ) 1,943 (773 )
Other comprehensive income (loss) for the period, net of tax 1,874 (1,276 ) 1,987 (728 )
Total comprehensive income (loss) for the period (13,108 ) (10,313 ) 7,235 7,886
Profit (loss) attributable to:
Owners of the Company (14,334 ) (8,829 ) 5,907 8,607
Non-controlling interests (649 ) (208 ) (659 ) 7
(14,983 ) (9,037 ) 5,248 8,614
Total comprehensive income (loss) attributable to:
Owners of the Company (12,583 ) (10,021 ) 7,765 8,062
Non-controlling interests (525 ) (292 ) (530 ) (176 )
(13,108 ) (10,313 ) 7,235 7,886
SPORTRADAR GROUP AG
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in thousands of Euros)
December 31, 2020 September 30, 2021
Assets
Current assets    
Cash 385,542 768,402
Trade receivables 23,812 31,444
Contract assets 23,775 35,938
Other assets and prepayments 15,018 19,411
Income tax receivables 1,661 1,134
449,808 856,329
Non-current assets
Property and equipment 33,983 34,557
Intangible assets and goodwill 346,069 779,061
Equity-accounted investees 9,884 8,397
Other financial assets 95,055 8,276
Deferred tax assets 22,218 25,042
507,209 855,333
Total assets 957,017 1,711,662
Current liabilities
Loans and borrowings 8,040 6,713
Trade payables 131,469 169,280
Other liabilities 37,733 64,771
Contract liabilities 14,976 26,077
Income tax liabilities 7,535 9,456
199,753 276,297
Non-current liabilities
Loans and borrowings 430,639 429,855
Trade payables 146,157 308,653
Other non-current liabilities 10,682 8,942
Deferred tax liabilities 5,654 27,385
593,132 774,835
Total liabilities 792,885 1,051,132
Class A ordinary shares – 18,887
Class B ordinary shares – 8,308
Share capital 302 –
Participation certificates 161 –
Treasury shares (1,970 ) (565 )
Additional paid-in capital 99,896 534,967
Retained earnings 68,027 101,937
Other reserves 859 314
Equity attributable to owners of the Company 167,275 663,848
Non-controlling interest (3,143 ) (3,318 )
Total equity 164,132 660,530
Total liabilities and equity 957,017 1,711,662
SPORTRADAR GROUP AG
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of Euros)
Nine Months Ended September 30,
2020 2021
OPERATING ACTIVITIES:
Profit for the period 5,248 8,614
Adjustments to reconcile profit for the period to net cash provided by operating activities:
Income tax expense 3,451 10,724
Interest income (4,966 )   (5,018 )
Interest expense 9,605 23,797
Impairment of equity-accounted investee 4,578 –
Other financial expenses net (6,601 ) 3,893
Amortization and impairment of intangible assets 99,727 83,713
Depreciation of property and equipment 7,327 7,558
Equity – settled share-based payments 49 13,670
Other 1,833 1,324
Cash flow from operating activities before working capital changes, interest and income taxes 120,251 148,275
Increase in trade receivables, contract assets, other assets and prepayments (15,338 ) (15,710 )
Increase in trade and other payables, contract and other liabilities 22,041 18,193
Changes in working capital 6,703 2,483
Interest paid (8,574 ) (18,066 )
Income taxes paid (3,062 ) (7,088 )
Net cash from operating activities 115,318 125,604
INVESTING ACTIVITIES:
Acquisition of intangible assets (65,235 ) (81,478 )
Acquisition of property and equipment (1,386 ) (2,721 )
Acquisition of subsidiaries, net of cash acquired (39 ) (198,432 )
Disposal of property and equipment – 20
Collection of loans receivable 243 294
Issuance of loans receivable (2,088 ) (2,116 )
Collection of deposits 196 216
Payment of deposits (105 ) (86 )
Net cash used in investing activities (68,414 ) (284,303 )
FINANCING ACTIVITIES:
Payment of lease liabilities (2,267 ) (4,417 )
Proceeds from borrowing of bank debt 42,145 –
Transaction costs related to borrowings (1,510 ) –
Principal payments on bank debt (46,099 ) (2,230 )
Change in bank overdrafts (307 ) 59
Purchase of MPP share awards (3,750 ) –
Proceeds from issuance of MPP share awards 330 1,650
Proceeds from issue of participation certificates – 1,002
Net Proceeds from issuance of new shares – 546,257
Net cash (used in) from financing activities (11,458 ) 542,321
Net increase in cash 35,446 383,622
Cash at the beginning of the period 57,024 385,542
Effects of movements in exchange rates 629 (762 )
Cash at the end of the period 93,099 768,402

Set out below is the information related to each reportable segment for the three and nine month periods ended September 30, 2020 and 2021.

Three Months Ended September 30, 2020
in €’000 RoW
Betting 		RoW
Betting
AV 		United
States		 Total
reportable
segments		 All
other
segments		 Total
Segment revenue 63,180 25,723 8,927 97,830 7,464 105,294
Segment Adjusted EBITDA 32,990 2,995 (5,334 ) 30,651 (259 ) 30,392
Unallocated corporate expenses(1) (13,114 )
Adjusted EBITDA 17,278
Three Months Ended September 30, 2021
in €’000 RoW
Betting 		RoW
Betting
AV 		United
States		 Total
reportable
segments		 All
other
segments		 Total
Segment revenue 78,589 28,974 19,569 127,132 9,633 136,765
Segment Adjusted EBITDA 44,741 9,587 (6,593 ) 47,735 (2,422 ) 45,313
Unallocated corporate expenses(1) (24,436 )
Adjusted EBITDA 20,877
Nine Months Ended September 30, 2020
in €’000 RoW
Betting 		RoW
Betting
AV 		United
States		 Total
reportable
segments		 All
other
segments		 Total
Segment revenue 171,572 82,407 22,285 276,264 20,630 296,894
Segment Adjusted EBITDA 89,819 21,165 (17,721 ) 93,263 (16 ) 93,247
Unallocated corporate expenses(1) (35,182 )
Adjusted EBITDA 58,065
Nine Months Ended September 30, 2021
in €’000 RoW
Betting 		RoW
Betting
AV 		United
States		 Total
reportable
segments		 All
other
segments		 Total
Segment revenue 227,111 104,576 48,485 380,172 28,665 408,837
Segment Adjusted EBITDA 131,331 29,370 (15,072 ) 145,629 (4,112 ) 141,517
Unallocated corporate expenses(1) (60,873 )
Adjusted EBITDA 80,644

(1) Unallocated corporate expenses primarily consist of salaries and wages for Group management, legal, human resources, finance, office, technology and other costs not allocated to the segments

The following table reconciles Adjusted EBITDA to the most directly comparable IFRS financial performance measure, which is profit for the period (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,
in €’000 2020 2021 2020 2021
Profit (loss) for the period (14,983 ) (9,037 ) 5,248 8,614
Share based compensation 49 5,148 49 13,670
Depreciation and amortization 27,962 27,182 80,870 91,271
Amortization of sport rights (21,533 ) (17,444 ) (61,612 ) (66,307 )
Impairment of intangibles assets 26,184 – 26,184 –
Impairment of equity-accounted investee 4,578 – 4,578 –
Impairment loss on other financial assets – 165 – 425
Finance income (12,705 ) (1,574 ) (22,140 ) (14,592 )
Finance costs 8,739 13,390 21,437 36,839
Income tax (expense) benefit (1,013 ) 3,047 3,451 10,724
Adjusted EBITDA 17,278 20,877 58,065 80,644

The following table presents a reconciliation of Adjusted Free Cash Flow to the most directly comparable IFRS financial performance measure, which is net cash from operating activities (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,
  2020     2021     2020     2021  
Net cash from operating activities 39,469 58,148 115,318 125,604
Acquisition of intangible assets (24,890 ) (23,153 ) (65,235 ) (81,478 )
Acquisition of property and equipment (273 ) (661 ) (1,386 ) (2,721 )
Payment of lease liabilities (800 ) (1,388 ) (2,267 ) (4,417 )
Adjusted Free Cash Flow 13,506 32,946 46,430 36,988
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Osteo-Pharma and Emultech Announce Joint Venture to Develop First-in-Class Disease-Modifying Treatment for Osteoarthritis

Bone-Tech logo

Bone-Tech logo

AMSTERDAM, Nov. 17, 2021 (GLOBE NEWSWIRE) — Emultech and Osteo-Pharma today announced a joint venture, Bone-Tech, to develop what could be the first disease-modifying treatment for osteoarthritis of the knee. Bone-Tech brings together Osteo-Pharma’s novel combination drug therapy for the local treatment of osteoarthritis with Emultech’s world-leading microfluidics’ microspheres technology.  Bone-Tech’s patented OsteoActivator™ microspheres treatment promises to be the first and only extended-release treatment targeting subchondral bone remodelling for patients suffering from osteoarthritis-related pain and disability.

Osteoarthritis (OA), the most common form of arthritis, is a chronic, degenerative disease affecting over 1.5 billion people globally. OA causes life-long pain and is a leading cause of disability in the US and worldwide, accounting for >$185 billion in annual costs in the US alone in 2016. In OA patients, subchondral bone is characterized by impaired bone remodelling and the presence of bone marrow lesions (BML). BML’s are a hallmark in OA diagnosis and are strongly associated with pain, are a prognostic marker for cartilage loss and are predictive for the need for knee replacement surgery.

“Intraosseous injection of OsteoActivator™ microspheres directly into subchondral bone locally targets osteoblast and osteoclast cells to restore bone remodelling, improves bone quality and relieves pain. There are currently no disease modifying treatments in the OA therapies market, and as such, OsteoActivator™ microspheres will be the first of its kind”, said Jan Gossen, CEO of Osteo-Pharma.

“With its extended-release microsphere formulation, we believe the Bone-Tech product holds the potential to disrupt the current treatment paradigm, and we are dedicated to bringing this important new therapy to market for the millions of patients confronting this relentless disease”, said Rene Hansen, CEO of Emultech.

Bone-Tech’s novel approach has demonstrated proof-of-concept in in-vitro and animal studies and is under development in preparation for IND filing and first-in-man studies. The Bone-Tech product employs proprietary microsphere technology for the extended-release of a combination of two well-known therapeutic agents delivered via intraosseous injection. Bone-Tech plans to pursue a rapid and low risk 505(b)(2) strategy to progress the product through clinical trials.

Bone-Tech is actively seeking venture and/or strategic partners to support clinical development. If interested, please contact Bone-Tech using the contact information below. 

About Osteo-Pharma

Osteo-Pharma is a Life Sciences company developing novel medical devices and pharmaceuticals to improve the local healing of bone defects and fractures. Its proprietary OsteoActivator platform is currently used to develop products for both dental and orthopedic applications. The company has recently announced its MREC approval for the initiation of a clinical trial for their lead product, OsteoActivator-P, in patients.

About Emultech

Emultech has developed the first and only continuous production of microparticles based on microfluidics. Emultech’s system enables superior control of particle properties (monodispersity, size, circularity and morphology) with high encapsulation efficiency, resulting in improved and adjustable loading, controlled drug release and degradation profiles with easier injectability. Our process is low energy and safe for all molecules, and parallelization enables instant, low risk, scale-up for high throughput production that is suitable for GMP.

Press Contact:

Scott Fleming, CCO, Emultech BV   scott.fleming@emultech.nl   +31 6 46 87 69 89

Other Contact:

Jan Gossen, CEO, Osteo-Pharma BV  info@osteo-pharma.com

Related Images

Image 1: Bone-Tech logo

Bone-Tech logo

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

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SkyTeam Cargo Welcomes ITA Airways Into Global Cargo Alliance

Alfredo Altavilla, President of ITA Airways

Alfredo Altavilla, President of ITA Airways

AMSTERDAM, Nov. 17, 2021 (GLOBE NEWSWIRE) — SkyTeam Cargo, the global cargo alliance, has welcomed Italy’s new national carrier, ITA Airways, as a new cargo member, replacing Alitalia Cargo. In joining the world’s largest air cargo alliance, ITA Airways will ensure continuity for multilateral cargo shipments between Italy and the rest of the world through SkyTeam Cargo’s industry-leading product portfolio.

“Italy is an important global Cargo market and we warmly welcome ITA Airways into the SkyTeam Cargo Alliance, providing safe, efficient and timely shipments of products, high-end fashion and design and consumer goods to hundreds of destinations across our global network,” said Nico van der Linden, Vice President, SkyTeam Cargo.

Emiliana Limosani, Chief Commercial Officer at ITA Airways, said: “Joining SkyTeam Cargo is a critical step for us, as we recognize the uniqueness of the Alliance’s value proposition and adopt the quality standards of its broad product portfolio. We are confident that working with our valued partner airlines, will support and inspire our growth plan in the months ahead”.

For more information visit: www.skyteamcargo.com

About SkyTeam Cargo: 
SkyTeam Cargo is the global unique Cargo Alliance of 12 member airlines working together with more than 3,337 aircrafts including 63 full freighters to 159 destinations countries. The members are Aeroflot Cargo, Aerolíneas Argentinas Cargo, Aeromexico Cargo, Air France-KLM Cargo, China Airlines Cargo, China Cargo Airlines, Czech Airlines Cargo, Delta Cargo, ITA Airways, Korean Air Cargo and Saudia Cargo.

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola – barbara.sanicola@lapresse.it
+39 02 26305578 M +39 333 3905243

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30415553-d1b7-427a-82b4-16f8000c9913

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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DNB instructed to engage with MPs for transparency’s sake – Annuar

Published by
Malaysiakini (English)

PARLIAMENT | Communications and Multimedia Minister Annuar Musa said he has instructed Digital Nasional Bhd (DNB), which is in charge of the 5G rollout in Malaysia, to have engagement sessions with all MPs for the sake of transparency. This comes after Syed Saddiq Syed Abdul Rahman (Independent-Muar) suggested DNB hold a special briefing for MPs to explain in “meticulous detail” about the planned 5G rollout. “Regarding what Muar raised, I would like to inform this house that in my meeting with them (DNB) recently, in the past week or so, I have specifically instructed DNB to have engagements w… Continue reading “DNB instructed to engage with MPs for transparency’s sake – Annuar”

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LeddarTech Presents Innovative Solutions in ADAS and AD: The Value of Raw Fusion for Perception and the Benefits of a Flexible Platform in Sensor Development in December

QUEBEC CITY, Nov. 17, 2021 (GLOBE NEWSWIRE) — LeddarTech®, a global leader in providing the most flexible, robust and accurate ADAS and AD sensing technology, is pleased to announce its participation as a host and co-presenter at various events in December. These events will showcase LeddarTech’s comprehensive end-to-end technology platforms, which enable customers to solve critical sensing and perception challenges across the entire value chain of the automotive, mobility and off-road markets. The featured solutions include the LeddarVision™ sensor fusion and perception platform for Tier 1s and OEMs and the cost-effective, scalable LiDAR XLRator development solution based on patented LeddarEngine™ technology designed for LiDAR makers and Tier 1-2 manufacturers.

December 2, 2021: The Autonomous, a global member-only organization that comprises technology companies committed to working together in shaping the future of autonomous driving, hosts LeddarTech at this exclusive virtual event:

“Reimagining Autonomy: A Platform Approach”

A stellar lineup of partners will come together to explore the ADAS and AD landscape, the challenges and the emerging technologies that are positioned to solve these challenges. This event will consist of keynote presentations, panel discussions and a roundtable deep dive session.

Presenters:

  • Frantz Saintellemy, President and COO from LeddarTech
  • Marco Angelici, MEMS Micro Actuators Business Unit Director from STMicroelectronics
  • Thomas Brandes, Senior Marketing Manager for Visible and IR Lasers from ams OSRAM Group
  • Eric Hoarau, Head of Automotive Strategic Partnerships from Flex

Register for these limited tickets at this virtual event here.

December 6, 2021: All About Circuits, a leader in tech media, hosts LeddarTech and Omni Design for a global webinar:

“Are Solid-State LiDARs Ready for Mass-Market Deployment?”

LeddarTech and Omni Design are collaborating to address this market requirement to enable mass production of solid-state LiDAR products that meet stringent automotive requirements and provide exceptional performance and significantly lower cost and power consumption while enabling a smaller form factor and faster time-to-market.

Presenters:

  • Pierre Olivier, Chief Technology Officer of LeddarTech
  • Dr. Manar El-Chammas, Vice President of Engineering at Omni Design Technologies

Pierre and Manar will share the synergy of solutions between the two organizations and jointly describe how they collaborate, synergistic benefits to LiDAR manufacturers and Tier 1 suppliers and the roadmap for collaboration.

Register for this virtual event here.

December 9, 2021: Reuters Events, a division of the international Reuters news organization, will be hosting LeddarTech at this global event:

“Sensor Fusion and Perception Solutions for Critical ADAS and AD Applications”

In this exclusive hands-on workshop, LeddarTech and guests will explore why perception software is a crucial enabler and accelerator of ADAS and AD in Level 1-5. While perception continues to represent a big challenge for automakers as they advance to the next levels of autonomy, this workshop will discuss how raw data fusion and perception software can accelerate this advancement by more than three years.

Presenters:

  • Pierre Olivier, Chief Technology Officer of LeddarTech
  • Stav Yoffe, Senior Product Manager, Sensor Fusion of LeddarTech

Register for limited tickets for this virtual event here.

For a complete list of LeddarTech’s upcoming live and virtual events, including CES 2022, please visit leddartech.com/events.

About LeddarTech
LeddarTech provides the most flexible, robust and accurate ADAS and AD sensing technology for autonomous vehicles and advanced driver assistance systems. Founded in 2007, LeddarTech has evolved to become a comprehensive end-to-end environmental sensing company by enabling customers to solve critical sensing, fusion and perception challenges across the entire value chain. The company offers cost-effective and scalable solutions such as LeddarVision™, a raw-data sensor fusion and perception platform that generates a comprehensive 3D environmental model with multi-sensor support for camera, radar and LiDAR configurations. It is scalable to support all vehicle automation levels. In addition, LeddarTech supports LiDAR makers and Tier 1-2 automotive system integrators with LeddarSteer™, a digital beam steering device, and the LiDAR XLRator development solution for automotive-grade solid-state LiDAR development based on the LeddarEngine™ and core components from global semiconductor partners. The company is responsible for several innovations in cutting-edge automotive and mobility remote-sensing applications, with over 100 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter, Facebook and YouTube.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Product Management, LeddarTech Inc.
Tel.: + 1-418-653-9000 ext. 232
daniel.aitken@leddartech.com

Leddar, LeddarTech, LeddarSteer, LeddarEngine, LeddarVision, LeddarSP, LeddarCore, VAYADrive, VayaVision, XLRator and related logos are trademarks or registered trademarks of LeddarTech Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

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LeddarTech นำเสนอโซลูชันที่เป็นนวัตกรรมใหม่ในระบบ ADAS และ AD: ความสำคัญของการผสานข้อมูลดิบสำหรับการรับสัญญาณและประโยชน์ของแพลตฟอร์มที่ยืดหยุ่นในการพัฒนาเซ็นเซอร์ในเดือนธันวาคม

เมืองควิเบก, Nov. 17, 2021 (GLOBE NEWSWIRE) — LeddarTech®ผู้นำระดับโลกด้านการให้บริการระบบเทคโนโลยีเซ็นเซอร์ ADAS และ AD ที่ยืดหยุ่น ทนทาน และแม่นยำ มีความยินดีที่จะประกาศการร่วมเป็นเจ้าภาพและผู้ร่วมนำเสนองานกิจกรรมต่าง ๆ ในเดือนธันวาคม งานกิจกรรมเหล่านี้จะจัดแสดงแพลตฟอร์มเทคโนโลยีแบบครบวงจรที่ครอบคลุมของ LeddarTech ซึ่งช่วยให้ลูกค้าสามารถแก้ปัญหาความท้าทายเกี่ยวกับเซ็นเซอร์ละการรับสัญญาณที่เกิดขึ้นในกระบวนการการตลาดของรถยนต์ ยานยนต์ และรถออฟโรดทั้งหมด โซลูชันเด่น ๆ ได้แก่ ผลงานของLeddarVision™ ที่เป็นการผสานเซ็นเซอร์และแพลตฟอร์มการรับสัญญาณสำหรับโซลูชันการพัฒนา LiDAR XLRator ระดับ 1 และ OEM ที่คุ้มค่าและปรับขนาดได้ตามเทคโนโลยี จากLeddarEngine™ ที่ได้รับสิทธิบัตรซึ่งออกแบบมาสำหรับผู้ผลิต LiDAR และผู้ผลิตระดับ 1-2

2 ธันวาคม 2021: The Autonomous องค์กรระดับโลกสงวนไว้เฉพาะสมาชิกอันประกอบด้วยบริษัทด้านเทคโนโลยีต่าง ๆ ที่มุ่งมั่นทำงานร่วมกันเพื่อสร้างอนาคตของการขับขี่แบบอัตโนมัติ เป็นเจ้าภาพให้กับ LeddarTech ในงานกิจกรรมแบบเสมือนสุดพิเศษนี้

“การจินตนาการใหม่ถึงยานยนต์ที่ขับเคลื่อนแบบอัตโนมัติ: แนวทางของแพลตฟอร์ม”

กลุ่มพันธมิตรสำคัญจะมารวมตัวกันเพื่อสำรวจภูมิทัศน์ของ ADAS และ AD ความท้าทายและเทคโนโลยีที่เกิดขึ้นใหม่ซึ่งอยู่ในจุดที่จะแก้ปัญหาความท้าทายเหล่านี้ งานนี้จะประกอบด้วยการนำเสนอประเด็นสำคัญ การอภิปรายแบบกลุ่ม และช่วงการหารือโต๊ะกลมแบบเจาะลึก

ผู้นำเสนอ:

  • Frantz Saintellemy ประธานและ COO จาก LeddarTech
  • Marco Angelici ผู้อำนวยการหน่วยธุรกิจ MEMS Micro Actuators จาก STMicroelectronics
  • Thomas Brandes ผู้จัดการฝ่ายการตลาดอาวุโสสำหรับ Visible และ IR Lasers จาก ams OSRAM Group
  • Eric Hoarau หัวหน้าฝ่ายพันธมิตรด้านกลยุทธ์ยานยนต์จาก Flex

ลงทะเบียนสำหรับบัตรเข้าชมที่มีจำนวนจำกัดในงานกิจกรรมเสมือนจริงนี้ ที่นี่

6  ธันวาคม 2021: All About Circuitsผู้นำด้านสื่อเทคโนโลยี เป็นเจ้าภาพให้กับ LeddarTech และ Omni Design จัดงานสัมมนาผ่านเว็บระดับโลก:

“Solid-State LiDARs พร้อมใช้งานในตลาดมวลชนหรือยัง”

LeddarTech และ Omni Design  ร่วมมือกัน กล่าวถึงความต้องการของตลาดนี้ เพื่อให้สามารถผลิตผลิตภัณฑ์ solid-state LiDAR ในปริมาณมากที่ตรงตามข้อกำหนดด้านยานยนต์ที่เข้มงวด และให้ประสิทธิภาพที่ยอดเยี่ยม ลดต้นทุนและการใช้พลังงานลงอย่างมาก ในขณะที่เปิดใช้งานฟอร์มแฟกเตอร์ที่เล็กลงและออกสู่ตลาดได้เร็วขึ้น

ผู้นำเสนอ:

  • Pierre Olivier ประธานเจ้าหน้าที่ฝ่ายเทคโนโลยีของ LeddarTech
  • Dr. Manar El-Chammas รองประธานฝ่ายวิศวกรรมของ Omni Design Technologies

Pierre และ Manar จะมาแบ่งปันการผสานความสามารถของโซลูชันจากทั้งสององค์กร และอธิบายถึงการทำงานร่วมกัน ผลประโยชน์ร่วมกันกับผู้ผลิต LiDAR และซัพพลายเออร์ระดับ 1 รวมถึงแผนงานความร่วมมือ

ลงทะเบียนสำหรับงานกิจกรรมเสมือนจริงนี้ ที่นี่

9 ธันวาคม 2021: Reuters Events แผนกหนึ่งขององค์กรข่าวของ Reuters ระหว่างประเทศ จะเป็นเจ้าภาพ LeddarTech ในงานระดับโลกนี้:

“โซลูชันฟิวชันเซ็นเซอร์และการรับสัญญาณสำหรับแอปพลิเคชัน ADAS และ AD ที่สำคัญ”

ในประชุมเชิงปฏิบัติสุดพิเศษนี้ LeddarTech และผู้ร่วมงานจะสำรวจว่าเหตุใดซอฟต์แวร์การรับสัญญาณจึงเป็นตัวเปิดใช้งานและตัวเร่งที่สำคัญของ ADAS และ AD ในระดับ 1-5 ในขณะที่การรับสัญญาณยังคงเป็นความท้าทายที่ยิ่งใหญ่สำหรับผู้ผลิตรถยนต์ที่ก้าวเข้าสู่ระดับต่อไปของการขับเคลื่อนแบบอัตโนมัติ การประชุมเชิงปฏิบัติการนี้จะหารือว่าซอฟต์แวร์ผสานข้อมูลดิบและการรับสัญญาณสามารถเร่งความก้าวหน้านี้ได้เร็วขึ้นกว่าสามปีได้อย่างไร

ผู้นำเสนอ:

  • Pierre Olivier ประธานเจ้าหน้าที่ฝ่ายเทคโนโลยีของ LeddarTech
  • Stav Yoffe ผู้จัดการผลิตภัณฑ์อาวุโส Sensor Fusion ของ LeddarTech

ลงทะเบียนสำหรับบัตรเข้าชมที่มีจำนวนจำกัดเหล่านี้ในงานกิจกรรมเสมือนจริงนี้ ที่นี่

ดูรายการกิจกรรมสดและงานกิจกรรมเสมือนจริงที่กำลังจะเกิดขึ้นของ LeddarTech รวมถึง CES 2022 ได้ที่ leddartech.com/events

เกี่ยวกับ LeddarTech
LeddarTech นำเสนอเทคโนโลยีการตรวจวัดระบบ ADAS และ AD ที่ยืดหยุ่น แข็งแกร่ง และแม่นยำที่สุดสำหรับรถยนต์ขับเคลื่อนอัตโนมัติและระบบช่วยเหลือผู้ขับขี่ขั้นสูง LeddarTech ก่อตั้งขึ้นในปี 2007 และได้พัฒนาจนกลายเป็นบริษัทตรวจวัดสิ่งแวดล้อมแบบครบวงจรโดยช่วยให้ลูกค้าสามารถแก้ปัญหาด้านการตรวจวัด การผสาน และการรับสัญญาณที่สำคัญซึ่งครอบคลุมทั้งกระบวนการการตลาด บริษัทนำเสนอโซลูชันที่คุ้มค่าใช้จ่ายและปรับขนาดได้ เช่น LeddarVision™ การผสานเซ็นเซอร์ข้อมูลดิบและแพลตฟอร์มการรับสัญญาณที่สร้างแบบจำลองสิ่งแวดล้อม 3 มิติที่ครอบคลุม พร้อมรองรับเซ็นเซอร์หลายตัวสำหรับการกำหนดค่ากล้อง เรดาร์ และ LiDAR สามารถปรับขนาดเพื่อรองรับระบบอัตโนมัติของยานพาหนะทุกระดับ นอกจากนี้ LeddarTech ยังสนับสนุนผู้ผลิต LiDAR และผู้ผสานรวมระบบยานยนต์ระดับ 1-2 ด้วย LeddarSteer™ อุปกรณ์บังคับเลี้ยวด้วยลำแสงดิจิทัล และโซลูชันการพัฒนา LiDAR XLRator สำหรับการพัฒนา LiDAR แบบ solid-state ในระดับที่มีการขับเคลื่อนอัตโนมัติจาก LeddarEngine™ และส่วนประกอบหลักจากพันธมิตรเซมิคอนดักเตอร์ทั่วโลก บริษัทรับผิดชอบด้านนวัตกรรมหลายอย่างในแอปพลิเคชันการตรวจจับระยะไกลสำหรับยานยนต์และการเคลื่อนไหวที่ล้ำสมัย ด้วยเทคโนโลยีที่จดสิทธิบัตรมากกว่า 100 รายการ (ที่ได้รับหรืออยู่ระหว่างดำเนินการ) ที่ช่วยเสริม ADAS และความสามารถในการขับขี่อัตโนมัติ

ดูข้อมูลเพิ่มเติมเกี่ยวกับ LeddarTech ได้ที่ www.leddartech.com และบน LinkedIn, Twitter, Facebook และ YouTube

ติดต่อ:
Daniel Aitken รองประธานฝ่ายการตลาดระดับโลก การสื่อสารและการจัดการผลิตภัณฑ์ LeddarTech Inc.
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VICTOR F. “TREY” TRAHAN, III, FAIA, SELECTED AS THE 2021 LAUREATE OF THE AMERICAN PRIZE FOR ARCHITECTURE BY BOTH THE CHICAGO ATHENAEUM: MUSEUM OF ARCHITECTURE AND DESIGN AND THE EUROPEAN CENTRE FOR ARCHITECTURE ART DESIGN AND URBAN STUDIES

New Orleans, LA /New York, NY, Nov. 16, 2021 (GLOBE NEWSWIRE) — New Orleans, LA/ New York, NY –Trahan Architects, a global architecture firm with studios in New Orleans and New York City, announced today that its founder and CEO, Victor F. “Trey” Trahan, III, FAIA, has been selected as the 2021 Laureate for The American Prize for Architecture by The Chicago Athenaeum: Museum of Architecture and Design and The European Centre for Architecture Art Design and Urban Studies.

The Chicago Athenaeum additionally recognized two Trahan Architects projects for American Architecture Awards—the Ochsner Center for Innovation and the New England Mixed-Use Development.

“Kindness and compassion are exactly what best exemplify the works of Victor F. “Trey” Trahan, III, FAIA,” stated Christian Narkiewicz-Laine, architecture critic and museum president/CEO of The Chicago Athenaeum. “Over the past three decades, Trahan’s buildings have demonstrated a combination of those qualities of talent, vision and commitment that have produced consistent and significant contributions to humanity and to the built environment through the art of architecture. They have had the unique capacity to convey seemingly conflicting characteristics—power and modesty, boldness and subtlety, public authority and bravado, and at the same time, a sense of humble intimacy.”

Narkiewicz-Laine continued, “The work is powerfully honest and authentic—sublime masterpieces of sincerity, erudition, steeped in a thorough knowledge of the discipline of architecture, and aspirations of profound cultural awareness. His built work gives opportunity and equality to the less privileged, mitigates the effects of natural disasters, reduces energy consumption, follows a resolute humanitarian agenda with the highest criteria and social objectives, and provides spaces that, at their best, welcome the public at large. Innovative and inspiring, he shows how architecture can and should improve people’s lives and impact our otherwise ordinary existence—lifting us far and beyond the hectic and chaotic nature of our time, place and cities. In this decade, this is an architect that deserves even greater professional and public accolade.”

The Award, organized jointly by two public institutions, The Chicago Athenaeum: Museum of Architecture and Design and The European Centre for Architecture Art Design and Urban Studies, honors American architects, as well as other global architects practicing on multiple continents, whose body of architectural work, over time, exemplifies superior design and humanist ideals. The American Prize for Architecture pays tribute to the spirit of the founder of modernism, Louis Sullivan, and the subsequent generations of Chicago practitioners such as Frank Lloyd Wright, Daniel H. Burnham and Holabird & Root. It also broadcasts globally the significant contributions of America’s rich and inspiring architecture practice and its living legacy to the world at large.

“To be selected as the 2021 Laureate for the American Prize for Architecture by the Chicago Athenaeum’s International Advisory Committee and for two of our projects to be awarded The American Prize for Architecture is an honor,” said Trahan. “These awards exemplify our ethos and commitment to rootedness, artistry, materiality and our responsibility to designing for spatial equity.”

Previous Laureates include Sir Norman Foster, Michael Graves, the General Services Administration, Richard Meier, Adrian Smith + Gordon Gill Architecture, Form4Architecture, James von Klemperer of Kohn Pedersen Fox Associates PC., and Bernardo Fort-Brescia and Laurinda Spear of Miami-based firm Arquitectonica. Last year, the Prize was given to Eric Owen Moss.

“Trahan epitomizes the revival of a more poetically and intellectually engaged architect who advocates for the role of the architect as being challenged to serve greater social, cultural and humanitarian needs and concerns of our civilization and society,” said Narkiewicz-Laine. “Each of Trahan’s buildings shows a precise understanding of how people will use the facility, the thoughtful and appropriate use of materials and a commitment to creating public spaces to benefit the larger community. By his professional example, he has so meaningfully expanded the role of the architect. Few in this profession, particularly today, have risen to the demands of practicing architecture as an artful endeavor. This is an architect who wholeheartedly believes in the poetic simplicity of materials and place-making, never leaving an architect’s heavy-handed fingerprint on the design concept, intent or outcome. For the inspiration he provides, through his complex, intellectual example and his rich contributions to architecture and humanity past and future, Trey Trahan is the recipient of the 2021 American Prize for Architecture.”

Trahan Architects was founded by Trahan on the belief that the mindful design of everyday spaces can elevate the human experience. It is a multi-disciplinary firm ranked the number one design firm by Architect 50, the annual ranking by Architect Magazine, the official publication of American Institute of Architects, which topped the list by building “dramatic, sumptuous and well-detailed projects.” Trahan Architects has received over a hundred national, regional and local awards, as well as several international design competitions, including five National AIA Awards.

Attachments

Julia LeBlanc
Trahan Architects
4152156517
jleblanc@trahanarchitects.com