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Trip.com Group Limited Reports Unaudited Fourth Quarter and Full Year of 2024 Financial Results

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SINGAPORE, Feb. 24, 2025 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) (“Trip.com Group” or the “Company”), a leading one-stop travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management, today announced its unaudited financial results for the fourth quarter and full year of 2024.

Key Highlights for the Fourth Quarter and Full Year of 2024

International businesses experienced robust growth across all segments in the fourth quarter of 2024Outbound hotel and air ticket bookings have recovered to more than 120% of the pre-COVID level for the same period in 2019.Air ticket and hotel bookings on our international OTA platform increased by over 70% year-over-year.Inbound travel bookings surged by more than 100% year-over-year.The Company delivered solid financial results in the fourth quarter of 2024Net revenue for the fourth quarter was RMB12.7 billion (US$1.7 billion), representing a year-over-year growth of 23%.Net income for the fourth quarter was RMB2.2 billion (US$300 million), compared to RMB1.3 billion for the same period in 2023.Adjusted EBITDA for the fourth quarter was RMB3.0 billion (US$408 million), an improvement from RMB2.9 billion for the same period last year.

“The travel market has shown remarkable resilience in 2024, driven by travelers’ growing desire for exploration and cultural experiences,” said James Liang, Executive Chairman. “We are committed to investing in AI and promoting inbound travel to foster innovation and enhance the overall travel experience. We anticipate another year of growth and success within the industry.”

“We achieved solid results across market segments over the past year,” said Jane Sun, Chief Executive Officer. “With a promising market outlook, we are well-positioned to deliver outstanding travel services globally. We are confident in our ability to create value for users and succeeding with business partners through new initiatives. Together, we strive for win-win outcomes and contribute to global economic growth.”

Fourth Quarter and Full Year of 2024 Financial Results and Business Updates

For the fourth quarter of 2024, Trip.com Group reported net revenue of RMB12.7 billion (US$1.7 billion), representing a 23% increase from the same period in 2023, primarily driven by stronger travel demand. Net revenue for the fourth quarter of 2024 decreased by 20% from the previous quarter, primarily due to seasonality.

For the full year of 2024, net revenue was RMB53.3 billion (US$7.3 billion), representing a 20% increase from 2023.

Accommodation reservation revenue for the fourth quarter of 2024 was RMB5.2 billion (US$709 million), representing a 33% increase from the same period in 2023, primarily driven by an increase in accommodation reservations. Accommodation reservation revenue for the fourth quarter of 2024 decreased by 24% from the previous quarter, primarily due to seasonality.

For the full year of 2024, accommodation reservation revenue was RMB21.6 billion (US$3.0 billion), representing a 25% increase from 2023. The accommodation reservation revenue accounted for 40% of the total revenue in 2024 and 39% of the total revenue in 2023.

Transportation ticketing revenue for the fourth quarter of 2024 was RMB4.8 billion (US$655 million), representing a 16% increase from the same period in 2023, primarily driven by an increase in transportation reservations. Transportation ticketing revenue for the fourth quarter of 2024 decreased by 15% from the previous quarter, primarily due to seasonality.

For the full year of 2024, transportation ticketing revenue was RMB20.3 billion (US$2.8 billion), representing a 10% increase from 2023. The transportation ticketing revenue accounted for 38% of the total revenue in 2024 and 41% of the total revenue in 2023.

Packaged-tour revenue for the fourth quarter of 2024 was RMB870 million (US$119 million), representing a 24% increase from the same period in 2023, primarily driven by an increase in packaged-tour reservations. Packaged-tour revenue for the fourth quarter of 2024 decreased by 44% from the previous quarter, primarily due to seasonality.

For the full year of 2024, packaged-tour revenue was RMB4.3 billion (US$594 million), representing a 38% increase from 2023. The packaged-tour revenue accounted for 8% of the total revenue in 2024 and 7% of the total revenue in 2023.

Corporate travel revenue for the fourth quarter of 2024 was RMB702 million (US$96 million), representing an 11% increase from the same period in 2023 and a 7% increase from the previous quarter, primarily driven by an increase in corporate travel reservations.

For the full year of 2024, corporate travel revenue was RMB2.5 billion (US$343 million), representing an 11% increase from 2023. The corporate travel revenue accounted for 5% of the total revenue both in 2024 and 2023.

Cost of revenue for the fourth quarter of 2024 increased by 31% to RMB2.6 billion (US$362 million) from the same period in 2023 and decreased by 6% from the previous quarter, which was generally in line with the fluctuations in net revenue from the respective periods. Cost of revenue as a percentage of net revenue was 21% for the fourth quarter of 2024.

For the full year of 2024, cost of revenue was RMB10.0 billion (US$1.4 billion), representing a 23% increase from 2023. Cost of revenue as a percentage of net revenue was 19% in 2024.

Product development expenses for the fourth quarter of 2024 increased by 16% to RMB3.4 billion (US$465 million) from the same period in 2023 and decreased by 7% from the previous quarter, primarily due to the fluctuations in product development personnel related expenses. Product development expenses as a percentage of net revenue were 27% for the fourth quarter of 2024.

For the full year of 2024, product development expenses increased by 8% to RMB13.1 billion (US$1.8 billion) from 2023. Product development expenses as a percentage of net revenue were 25% in 2024.

Sales and marketing expenses for the fourth quarter of 2024 increased by 45% to RMB3.4 billion (US$462 million) from the same period in 2023, primarily due to the increase in expenses relating to sales and marketing promotion activities. Sales and marketing expenses for the fourth quarter of 2024 was flat compared to the previous quarter. Sales and marketing expenses as a percentage of net revenue were 26% for the fourth quarter of 2024.

For the full year of 2024, sales and marketing expenses increased by 29% to RMB11.9 billion (US$1.6 billion) from 2023. Sales and marketing expenses as a percentage of net revenue were 22% in 2024.

General and administrative expenses for the fourth quarter of 2024 increased by 19% to RMB1.0 billion (US$142 million) from the same period in 2023, primarily due to an increase in general and administrative personnel related expenses. General and administrative expenses for the fourth quarter of 2024 decreased by 1% from the previous quarter. General and administrative expenses as a percentage of net revenue were 8% for the fourth quarter of 2024.

For the full year of 2024, general and administrative expenses increased by 9% to RMB4.1 billion (US$560 million) from 2023. General and administrative expenses as a percentage of net revenue were 8% in 2024.

Income tax expense for the fourth quarter of 2024 was RMB526 million (US$72 million), compared to RMB399 million for the same period in 2023 and RMB721 million for the previous quarter. The change in Trip.com Group’s effective tax rate was primarily due to the combined impacts of changes in respective profitability of its subsidiaries with different tax rates, changes in deferred tax liabilities relating to withholding tax, certain non-taxable income or loss resulting from the fair value changes in equity securities investments and exchangeable senior notes recorded in other income/(expense), and changes in valuation allowance provided for deferred tax assets.

For the full year of 2024, income tax expense was RMB2.6 billion (US$357 million), compared to RMB1.8 billion in 2023.

Net income for the fourth quarter of 2024 was RMB2.2 billion (US$300 million), compared to RMB1.3 billion for the same period in 2023 and RMB6.8 billion for the previous quarter. Adjusted EBITDA for the fourth quarter of 2024 was RMB3.0 billion (US$408 million), compared to RMB2.9 billion for the same period in 2023 and RMB5.7 billion for the previous quarter.

For the full year of 2024, net income was RMB17.2 billion (US$2.4 billion), compared to RMB10.0 billion in 2023.

Net income attributable to Trip.com Group’s shareholders for the fourth quarter of 2024 was RMB2.2 billion (US$295 million), compared to RMB1.3 billion for the same period in 2023 and RMB6.8 billion for the previous quarter. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP net income attributable to Trip.com Group’s shareholders for the fourth quarter of 2024 was RMB3.0 billion (US$416 million), compared to RMB2.7 billion for the same period in 2023 and RMB6.0 billion for the previous quarter.

For the full year of 2024, net income attributable to Trip.com Group’s shareholders was RMB17.1 billion (US$2.3 billion), compared to RMB9.9 billion in 2023. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP net income attributable to Trip.com Group’s shareholders was RMB18.0 billion (US$2.5 billion) in 2024, compared to RMB13.1 billion in 2023.

Diluted earnings per ordinary share and per ADS was RMB3.09 (US$0.42) for the fourth quarter of 2024. Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP diluted earnings per ordinary share and per ADS was RMB4.35 (US$0.60) for the fourth quarter of 2024. Each ADS currently represents one ordinary share of the Company.

For the full year of 2024, diluted earnings per share and per ADS was RMB24.78 (US$3.39). Excluding share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects, non-GAAP diluted earnings per share and per ADS was RMB26.20 (US$3.59).

As of December 31, 2024, the balance of cash and cash equivalents, restricted cash, short-term investment, and held to maturity time deposit and financial products was RMB90.0 billion (US$12.3 billion).

Recent Development

As part of our ongoing commitment to delivering value to our shareholders and ADS holders and in line with our regular capital return policy, the Company’s board of directors has authorized to undertake new capital return measures in 2025, consisting of (i) a share repurchase program under which the Company is authorized and approved to, from time to time, acquire up to an aggregate of US$400 million of its ordinary shares and/or ADSs, and (ii) an ordinary cash dividend for the financial year of 2024 totaling approximately US$200 million. The cash dividend will be US$0.30 per ordinary share or per ADS, payable to holders of ordinary shares and ADSs of record as of the close of business on March 17, 2025, Hong Kong time and New York time, respectively. Dividends to holders of ordinary shares are expected to be paid on or around March 27, 2025. Dividends to holders of ADSs are expected to be paid on or around April 4, 2025, subject to the terms of the deposit agreement, including the fees and expenses payable thereunder.  

Conference Call

Trip.com Group’s management team will host a conference call at 7:00 PM on February 24, 2025, U.S. Eastern Time (or 8:00 AM on February 25, 2025, Hong Kong Time) following this announcement.

The conference call will be available live on Webcast and for replay at: https://investors.trip.com. The call will be archived for twelve months on our website.

All participants must pre-register to join this conference call using the Participant Registration link below:

https://register.vevent.com/register/BI464e7cf662634c26ab00fc2284233a50.  

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “future,” “intend,” “plan,” “believe,” “estimate,” “is/are likely to,” “confident,” or other similar statements. Among other things, quotations from management in this press release, as well as Trip.com Group’s strategic and operational plans, contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, severe or prolonged downturn in the global or Chinese economy, general declines or disruptions in the travel industry, volatility in the trading price of Trip.com Group’s ADSs or shares, Trip.com Group’s reliance on its relationships and contractual arrangements with travel suppliers and strategic alliances, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in the relevant jurisdictions where Trip.com Group operates, failure to successfully develop Trip.com Group’s existing or future business lines, damage to or failure of Trip.com Group’s infrastructure and technology, loss of services of Trip.com Group’s key executives, adverse changes in economic and business conditions in the relevant jurisdictions where Trip.com Group operates, any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Trip.com Group and other risks outlined in Trip.com Group’s filings with the U.S. Securities and Exchange Commission or the Stock Exchange of Hong Kong Limited. All information provided in this press release and in the attachments is as of the date of the issuance, and Trip.com Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Non-GAAP Financial Measures

To supplement Trip.com Group’s consolidated financial statements, which are prepared and presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), Trip.com Group uses non-GAAP financial information related to adjusted net income attributable to Trip.com Group Limited, adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted earnings per ordinary share and per ADS, each of which is adjusted from the most comparable GAAP result to exclude the share-based compensation charges that are not tax deductible, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), net of tax, and other applicable items. Trip.com Group’s management believes the non-GAAP financial measures facilitate better understanding of operating results from quarter to quarter and provide management with a better capability to plan and forecast future periods.

Non-GAAP information is not prepared in accordance with GAAP, does not have a standardized meaning under GAAP, and may be different from non-GAAP methods of accounting and reporting used by other companies. The presentation of this additional information should not be considered a substitute for GAAP results. A limitation of using non-GAAP financial measures is that non-GAAP measures exclude share-based compensation charges, fair value changes of equity securities investments and exchangeable senior notes recorded in other income/(expense), and their tax effects that have been and will continue to be significant recurring expenses in Trip.com Group’s business for the foreseeable future.

Reconciliations of Trip.com Group’s non-GAAP financial data to the most comparable GAAP data included in the consolidated statement of operations are included at the end of this press release.

About Trip.com Group Limited

Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) is a leading global one-stop travel platform, integrating a comprehensive suite of travel products and services and differentiated travel content. It is the go-to destination for travelers in China, and increasingly for travelers around the world, to explore travel, get inspired, make informed and cost-effective travel bookings, enjoy hassle-free on-the-go support, and share travel experience. Founded in 1999 and listed on Nasdaq in 2003 and HKEX in 2021, the Company currently operates under a portfolio of brands, including Ctrip, Qunar, Trip.com, and Skyscanner, with the mission “to pursue the perfect trip for a better world.”

For further information, please contact:

Investor Relations
Trip.com Group Limited
Tel: +86 (21) 3406-4880 X 12229
Email: iremail@trip.com

 

 

 

Trip.com Group Limited

Unaudited Consolidated Balance Sheets

(In millions, except share and per share data)

December 31, 2023

December 31, 2024

December 31, 2024

RMB (million)

RMB (million)

USD (million)

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

43,983

51,093

7,000

Short-term investments

17,748

28,475

3,900

Accounts receivable, net 

11,410

12,459

1,707

Prepayments and other current assets 

15,591

20,093

2,753

Total current assets

88,732

112,120

15,360

Property, equipment and software

5,142

5,053

692

Intangible assets and land use rights

12,644

12,840

1,759

Right-of-use asset

641

755

103

Investments (Includes held to maturity time deposit and
financial products of RMB15,530 million and RMB10,453
million as of December 31,2023 and December 31,
2024, respectively)

49,342

47,194

6,466

Goodwill

59,372

60,911

8,345

Other long-term assets

688

454

62

Deferred tax asset

2,576

3,254

446

Total assets

219,137

242,581

33,233

LIABILITIES

Current liabilities:

Short-term debt and current portion of long-term debt

25,857

19,433

2,662

Accounts payable

16,459

16,578

2,271

Advances from customers

13,380

18,029

2,470

Other current liabilities

16,715

19,970

2,736

Total current liabilities

72,411

74,010

10,139

Deferred tax liability

3,825

4,098

561

Long-term debt

19,099

20,134

2,758

Long-term lease liability

477

561

77

Other long-term liabilities

319

296

41

Total liabilities

96,131

99,099

13,576

MEZZANINE EQUITY

743

102

SHAREHOLDERS’ EQUITY

Total Trip.com Group Limited shareholders’ equity

122,184

141,807

19,427

Non-controlling interests

822

932

128

Total shareholders’ equity

123,006

142,739

19,555

Total liabilities, mezzanine equity and shareholders’ equity

219,137

242,581

33,233

 

 

 

Trip.com Group Limited

Unaudited Consolidated Statements of Income

(In millions, except share and per share data)

Three Months Ended

Year Ended

December 31, 2023

September 30, 2024

December 31, 2024

December 31, 2024

December 31, 2023

December 31, 2024

December 31, 2024

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Revenue:

Accommodation reservation 

3,903

6,802

5,178

709

17,257

21,612

2,961

Transportation ticketing 

4,106

5,650

4,780

655

18,443

20,301

2,781

Packaged-tour 

704

1,558

870

119

3,140

4,336

594

Corporate travel

634

656

702

96

2,254

2,502

343

Others

991

1,234

1,238

170

3,468

4,626

634

Total revenue

10,338

15,900

12,768

1,749

44,562

53,377

7,313

Less: Sales tax and surcharges

(13)

(27)

(24)

(3)

(52)

(83)

(11)

Net revenue

10,325

15,873

12,744

1,746

44,510

53,294

7,302

Cost of revenue

(2,010)

(2,800)

(2,640)

(362)

(8,121)

(9,990)

(1,368)

Gross profit

8,315

13,073

10,104

1,384

36,389

43,304

5,934

Operating expenses:

Product development *

(2,916)

(3,640)

(3,397)

(465)

(12,120)

(13,139)

(1,800)

Sales and marketing *

(2,333)

(3,382)

(3,373)

(462)

(9,202)

(11,902)

(1,631)

General and administrative *

(869)

(1,045)

(1,033)

(142)

(3,743)

(4,086)

(560)

Total operating expenses

(6,118)

(8,067)

(7,803)

(1,069)

(25,065)

(29,127)

(3,991)

Income from operations

2,197

5,006

2,301

315

11,324

14,177

1,943

Interest income 

593

598

517

71

2,090

2,341

321

Interest expense

(497)

(399)

(323)

(44)

(2,067)

(1,735)

(238)

Other (expense)/income

(903)

1,781

(137)

(19)

(667)

2,220

304

Income before income tax
expense and equity in income
of affiliates

1,390

6,986

2,358

323

10,680

17,003

2,330

Income tax expense

(399)

(721)

(526)

(72)

(1,750)

(2,604)

(357)

Equity in income of affiliates

351

558

359

49

1,072

2,828

387

Net income

1,342

6,823

2,191

300

10,002

17,227

2,360

Net income attributable to non-
controlling interests and mezzanine
classified non-controlling interests

(45)

(58)

(34)

(5)

(84)

(160)

(22)

Net income attributable to
Trip.com Group Limited

1,297

6,765

2,157

295

9,918

17,067

2,338

Earnings per ordinary share 

– Basic

1.99

10.37

3.28

0.45

15.19

26.10

3.58

– Diluted

1.94

9.93

3.09

0.42

14.78

24.78

3.39

Earnings per ADS 

– Basic

1.99

10.37

3.28

0.45

15.19

26.10

3.58

– Diluted

1.94

9.93

3.09

0.42

14.78

24.78

3.39

Weighted average ordinary shares
outstanding 

– Basic

652,033,082

652,719,801

656,190,044

656,190,044

652,859,211

654,035,399

654,035,399

– Diluted

668,332,395

681,411,847

698,171,269

698,171,269

671,062,240

688,704,882

688,704,882

* Share-based compensation included in Operating expenses above is as follows:

  Product development 

215

221

219

30

870

976

134

  Sales and marketing 

39

38

40

6

158

171

24

  General and administrative 

196

200

200

27

806

895

123

 

 

Trip.com Group Limited

Unaudited Reconciliation of  GAAP and Non-GAAP Results

(In millions, except %, share and per share data)

Three Months Ended

Year Ended

December 31, 2023

September 30, 2024

December 31, 2024

December 31, 2024

December 31, 2023

December 31, 2024

December 31, 2024

RMB (million)

RMB (million)

RMB (million)

USD (million)

RMB (million)

RMB (million)

USD (million)

Net income

1,342

6,823

2,191

300

10,002

17,227

2,360

Less: Interest income

(593)

(598)

(517)

(71)

(2,090)

(2,341)

(321)

Add: Interest expense

497

399

323

44

2,067

1,735

238

Add: Other expense/(income)

903

(1,781)

137

19

667

(2,220)

(304)

Add: Income tax expense

399

721

526

72

1,750

2,604

357

Less: Equity in income of affiliates

(351)

(558)

(359)

(49)

(1,072)

(2,828)

(387)

Income from operations

2,197

5,006

2,301

315

11,324

14,177

1,943

Add: Share-based compensation

450

459

459

63

1,834

2,042

281

Add: Depreciation and amortization

208

215

220

30

817

851

117

Adjusted EBITDA

2,855

5,680

2,980

408

13,975

17,070

2,341

Adjusted EBITDA margin

28 %

36 %

23 %

23 %

31 %

32 %

32 %

Net income attributable to Trip.com Group Limited

1,297

6,765

2,157

295

9,918

17,067

2,338

Add: Share-based compensation

450

459

459

63

1,834

2,042

281

Add: Loss/(gain) from fair value changes of equity securities
investments and exchangeable senior notes

989

(1,276)

438

60

1,507

(1,082)

(148)

Add: Tax effects on fair value changes of equity securities
investments and exchangeable senior notes

(61)

15

(16)

(2)

(188)

14

2

Non-GAAP net income attributable to Trip.com Group Limited

2,675

5,963

3,038

416

13,071

18,041

2,473

Weighted average ordinary shares outstanding-
 Diluted-non GAAP 

668,332,395

681,411,847

698,171,269

698,171,269

671,062,240

688,704,882

688,704,882

Non-GAAP Diluted income per share 

4.00

8.75

4.35

0.60

19.48

26.20

3.59

Non-GAAP Diluted income per ADS 

4.00

8.75

4.35

0.60

19.48

26.20

3.59

Notes for all the condensed consolidated financial schedules presented:

Note 1: The conversion of Renminbi (RMB) into U.S. dollars (USD) is based on the certified exchange rate of USD1.00=RMB7.2993 on December 31, 2024 published by the Federal Reserve Board.

 

 

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SOURCE Trip.com Group Limited

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RSPO Launches New Guidance to Leverage Sustainable Palm Oil Certification for IFRS® Sustainability Disclosure Standards

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KUALA LUMPUR, Malaysia, July 23, 2026 /PRNewswire/ — The Roundtable on Sustainable Palm Oil (RSPO) has released a guidance document, “Leveraging RSPO Principles and Criteria for IFRS® Sustainability Disclosure Standards”. This new resource supports certified sustainable palm oil producers to align their sustainability practices with the IFRS S1 and IFRS S2 disclosure standards that serve as the global framework for reporting sustainability-related financial information.

As more than 30 jurisdictions, representing around 60% of global GDP, move towards adoption of the IFRS Sustainability Disclosure Standards (IFRS SDS), companies are increasingly required to disclose how sustainability-related risks and opportunities affect their financial position and prospects.1

This resource provides a practical pathway for palm oil producers to respond to these requirements by leveraging their existing compliance with the RSPO Principles and Criteria (P&C), without duplicating efforts or creating parallel systems.

Informing investor-relevant disclosures: A four-step approach

Certification and the IFRS SDS serve different purposes. This guidance, developed with support from PwC Malaysia, provides a practical bridge between operational sustainability practices and financial disclosure expectations by helping members translate certification-related topics, metrics, and evidence to inform investor-relevant disclosures.

It sets out a four-step approach to IFRS SDS-aligned reporting, guiding RSPO Members on applicability, reporting boundaries, identification of sustainability-related risks and opportunities, and links to financial performance. It also includes seven practical examples, illustrating how the RSPO P&C requirements and implementation evidence can inform disclosures across key sustainability topics, from ethical conduct and legal compliance to environmental protection and worker health and safety.

Beyond growers, the guidance document also supports financial institutions by helping banks, insurers, and investors understand how palm oil sustainability issues, such as labour disputes and traceability gaps, can translate into financial risks, impacts, and opportunities, enabling clearer risk profiling and more informed financing decisions.

Joseph D’ Cruz, RSPO Chief Executive Officer, said: “As sustainability reporting becomes an integral pillar of financial performance, this guidance bridges certification and disclosure, providing RSPO members with a practical framework to demonstrate sustainability performance in ways that resonate with global capital markets. In line with the growing importance of sustainability disclosures in financing and investment decision-making processes, this guidance illustrates how RSPO Principles and Criteria practices can complement an organisation’s strategy and risk assessment processes.”

Andrew Chan, Partner, Sustainability Leader at PwC Malaysia, said: “This guidance responds to the broader shift towards measuring sustainability through a financial lens, with the adoption of the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2). For RSPO growers, this creates an opportunity to demonstrate how sustainability practices contribute to business resilience as well as value creation — building investor confidence for the long term.”

Importantly, the guidance also reflects RSPO’s longer term interest in progressively strengthening linkages with sustainability disclosure frameworks. As disclosure expectations continue to evolve, RSPO intends to further explore how certification-related data metrics and assurance processes can support broader and more integrated sustainability disclosures in the future.

The Guidance Document can be downloaded here.

For more information, visit www.rspo.org 

About RSPO:
The Roundtable on Sustainable Palm Oil (RSPO) is a global partnership to make palm oil sustainable. Formed in 2004, the RSPO is a multi-stakeholder non-profit organisation that unites members from across the palm oil value chain, including oil palm producers, palm oil processors and traders, consumer goods manufacturers, retailers, banks and investors, environmental or nature conservation non-governmental organisations (NGOs), and social or developmental NGOs.

As a partnership for progress and positive impact, the RSPO facilitates global change to make the production and consumption of palm oil sustainable. To inspire change, we communicate the environmental and social benefits. To make progress, we catalyse collaboration. To provide assurance, we set the standards of certification.

The RSPO is registered as an international association in Zurich, Switzerland, with main offices in Malaysia and Indonesia, and offices in China, Colombia, Netherlands, United Kingdom and the United States. 

About PwC:
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 136 countries and 137 territories. Across audit and assurance, tax and legal, deals and consulting, we help clients build, accelerate, and sustain momentum. Find out more at www.pwc.com

1

IFRS Foundation, ISSB Podcast February 2025

 

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SOURCE Roundtable On Sustainable Palm Oil

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Nordic Capital announces agreement to sell ArisGlobal to Dassault Systèmes, following its transformation into a scaled and AI-enabled life sciences platform

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WALTHAM, Mass., 23 July 2026 /PRNewswire/ — Nordic Capital today announced that it has entered into a definitive agreement to sell ArisGlobal, a leading provider of software to the life sciences industry, to Dassault Systèmes (Euronext Paris: FR0014003TT8) (Paris: DSY.PA). The transaction represents a full exit for Nordic Capital and marks the successful culmination of a partnership that has transformed ArisGlobal into a scaled, cloud-native and AI-enabled platform serving more than 200 life sciences companies, CROs and government health authorities worldwide.

Founded in 1989 and headquartered in Waltham, Massachusetts, ArisGlobal develops and delivers regulatory, safety, and quality software to a global client base that includes many of the world’s largest pharmaceutical and biotech organisations, as well as regulatory authorities. Its flagship LifeSphere® platform is a fully integrated, cloud-native suite that enables life sciences organisations to manage complex regulatory submissions, pharmacovigilance workflows and clinical data on a single platform, improving compliance, speed and operational efficiency. The platform also embeds advanced AI-enabled automation across core pharmacovigilance workflows, reducing manual processing and accelerating safety case management.

“Nordic Capital invested in ArisGlobal because the business had strong fundamentals, a loyal blue-chip client base and significant potential to modernise its technology and scale its commercial reach. Working closely with Aman and his team, Nordic Capital has supported the company’s transformation into a leading cloud-native platform for the life sciences industry with differentiated AI-enabled capabilities and a strengthened market position. Nordic Capital is proud of what has been achieved together with management and looks forward to seeing the company continue to grow under Dassault Systèmes ownership,” said Daniel Berglund, Partner and Head of Healthcare, Nordic Capital Advisors.

Nordic Capital first invested in ArisGlobal in 2019, partnering with the founding family and management team to pursue an ambitious development strategy. In 2021, Nordic Capital made a further investment in the company, reflecting its conviction in ArisGlobal’s growth potential and the progress achieved since the original partnership began. Throughout the ownership period, Nordic Capital worked closely with management to accelerate the SaaS transition, professionalise the go-to-market organisation, broaden the product offering and strengthen the leadership team.

The migration to a modern, cloud-native architecture created the foundation for ArisGlobal to become an early leader in the application of AI to drug safety. A key milestone was the development and launch of NavaX, ArisGlobal’s generative AI solution for safety case processing, which automates and accelerates core pharmacovigilance workflows and has been adopted by a number of the world’s leading pharmaceutical companies. NavaX has further differentiated ArisGlobal’s offering and marked an important step in the Company’s evolution into a broader, AI-enabled safety and regulatory software platform.

“The life sciences industry is at an inflection point as regulatory complexity is increasing, data volumes are growing and our clients need software that can keep pace. The partnership with Nordic Capital gave us the resources and the runway to build exactly that. NavaX and our expanded platform are the result of that ambition, and I am confident we are well placed for what comes next,” said Aman Wasan, CEO, ArisGlobal.

Alongside its technology transformation, ArisGlobal strengthened its management team and commercial organisation, while two strategic acquisitions broadened the Company’s platform capabilities. Today, ArisGlobal serves more than 200 enterprise customers, including half of the world’s top 50 biopharma companies, processes more than 12 million safety cases annually and is expected to generate approximately USD 175 million in revenue in 2026. As rising regulatory complexity and increasing volumes of adverse event reporting continue to drive demand for advanced life sciences software, ArisGlobal is well positioned for future growth through solutions that automate compliance workflows, reduce manual processing and enable organisations to manage regulatory risk more effectively.

The transaction brings together ArisGlobal’s leadership in AI-enabled safety and regulatory software with Dassault Systèmes’ capabilities across research, clinical development and manufacturing. Nordic Capital believes the combination represents a highly compelling strategic fit, pairing complementary capabilities to create a broader, end-to-end offering across the life sciences value chain. ArisGlobal will also benefit from Dassault Systèmes’ global scale, customer reach and investment capacity, providing a strong platform for its next phase of innovation and growth.

The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.

Evercore and Jefferies LLC acted as financial advisors to ArisGlobal and Kirkland & Ellis acted as legal advisor to ArisGlobal.

Media contacts:

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com

ArisGlobal
Morgan Scott
Vice President, Marketing & Communications and Chief of Staff
mscott@arisglobal.com

About ArisGlobal

ArisGlobal is a leading provider of software to the life sciences industry. Its LifeSphere® platform delivers integrated regulatory, safety, and quality solutions to more than 200 life sciences companies, CROs and government health authorities worldwide. Founded in 1989 and headquartered in Waltham, Massachusetts, ArisGlobal combines deep domain expertise with advanced technology to help clients improve compliance, accelerate development cycles and manage regulatory complexity at global scale. For more information, visit www.arisglobal.com.

About Nordic Capital

Nordic Capital is a leading international private equity investor and subsector specialist dedicated to building stronger, more resilient businesses through transformative, long-term growth in partnership with management teams. With over 35 years of experience, Nordic Capital currently manages approximately EUR 39 billion in assets, investing in middle-market companies across Northern Europe and North America. Rooted in its Nordic heritage and values, it combines global reach with local presence through dedicated sector investment advisory teams, bringing deep expertise across its core sectors: Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Through active ownership, strong operational capabilities, a global network of experts and technology-enabled transformation, Nordic Capital helps companies scale, innovate and become sustainable leaders. For more information, visit www.nordiccapital.com or connect on LinkedIn.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

This information was brought to you by Cision http://news.cision.com

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Cognizant and Gulf Edge Announce Strategic Partnership to Accelerate Enterprise AI Adoption in Southeast Asia

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Partnership combines Cognizant’s global AI engineering capabilities with Gulf Edge’s sovereign digital infrastructure to capture the region’s growing demand for secure, scalable AI solutions.

BANGKOK, July 23, 2026 /PRNewswire/ — Cognizant (Nasdaq: CTSH), a leading AI builder and global technology services provider, and Gulf Edge Company Limited, the digital infrastructure arm of Thai energy and infrastructure conglomerate Gulf Development Public Company Limited (GULF) or Gulf Group, today announced a landmark strategic partnership. The alliance is designed to accelerate enterprise AI adoption and establish a resilient, AI-native digital economy in Thailand and the broader region.

As artificial intelligence (AI) rapidly reshapes industries, economies, and societies worldwide, the partnership aims to establish the foundational ecosystem needed to enable Thailand’s next phase of digital transformation. By combining trusted sovereign digital infrastructure with world-class AI engineering and enterprise transformation capabilities, Gulf Edge and Cognizant will help organizations deploy AI securely, responsibly, and at scale.

The collaboration brings together Gulf Edge’s leadership in digital infrastructure, energy, cloud, and strategic relationships across Thailand’s most important industries with Cognizant’s global expertise in AI, digital engineering, cloud modernization, data, and intelligent operations. Together, the two companies will deliver end-to-end AI capabilities spanning infrastructure, AI platforms, enterprise solutions, systems integration, and managed services.

The partnership will initially focus on accelerating AI adoption across key sectors including banking and financial services, energy and utilities, healthcare, telecommunications, manufacturing, and the public sector. Through industry-specific AI solutions, organizations will be able to improve operational efficiency, enhance customer experience, strengthen decision-making, automate complex business processes, and unlock new opportunities for innovation and growth.

Beyond enterprise transformation, Gulf Edge and Cognizant share a broader ambition of strengthening Thailand’s position as a regional AI hub. The partnership is expected to attract global technology expertise, stimulate investment in advanced digital capabilities, and create high-value employment opportunities across AI engineering, data science, cloud infrastructure, cybersecurity, and digital transformation. The two companies also plan to collaborate with universities, research institutions, technology partners, and public-sector organizations to develop AI talent, promote responsible AI adoption, and foster a sustainable innovation ecosystem for the country.

Mr. Sarath Ratanavadi, Chief Executive Officer, Gulf Development Public Company Limited, said, “Our partnership with Cognizant marks an important milestone in our vision of helping Thailand become an AI-native economy. By combining Gulf Edge’s strengths in digital infrastructure, energy, cloud, and deep understanding of the Thai market with Cognizant’s global expertise in enterprise AI, digital engineering, and transformation services, we are creating a comprehensive platform that enables organizations to adopt AI with confidence and generate measurable business outcomes. Together, we will develop secure, resilient, and future-ready sovereign digital infrastructure while delivering industry-specific AI solutions tailored to the needs of Thai enterprises and public institutions. We believe AI has the potential to transform every sector, creating new opportunities for productivity, innovation, and sustainable economic growth.”

Mr. Ganesh Ayyar, President of Asia Pacific & Japan (APJ), Cognizant, said, “As Thailand works toward its ambition of becoming an AI-native economy, we see this partnership as a meaningful way to help contribute to that vision, not just through the projects we deliver, but by building lasting AI and technology capability inside the country. With Gulf Edge’s market reach and Cognizant’s AI Builder strategy and global delivery capability, we are positioned to deliver transformative outcomes for Thai enterprises across every major sector.”

About Gulf Edge
Gulf Edge Company Limited is the digital infrastructure arm of Gulf Development Public Company Limited, Thailand’s leading energy and infrastructure conglomerate. Gulf Edge is building a robust digital ecosystem, spanning data centers, cloud services, satellite technology, and AI infrastructure, to accelerate Thailand’s digital transformation and position the country as a regional hub for the AI economy.

About Cognizant
Cognizant (NASDAQ: CTSH) is an AI Builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for clients. Its deep industry, process, and engineering expertise enables it to build an organization’s unique context into technology systems that amplify human potential, realize tangible returns, and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.

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SOURCE Gulf Development Public Company Limited (GULF)

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