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Illumina addresses recent developments in China

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Announces Fiscal Year 2025 Non-GAAP Diluted EPS of Approximately $4.50

SAN DIEGO, March 10, 2025 /PRNewswire/ — Illumina, Inc. (Nasdaq: ILMN) (“Illumina” or the “company”) today responded to the March 4, 2025 notice from the China Ministry of Commerce (“MOFCOM”) that Illumina is not permitted to export sequencing instruments into China. Illumina respects MOFCOM’s decision and will continue to comply with all applicable laws and regulations wherever the company operates. Illumina has had a long-standing presence in China, and the company continues to serve its clinical and research customers there.

“We remain focused on achieving high-single-digit revenue growth by 2027, while expanding our margins,” said Jacob Thaysen, CEO of Illumina. “We are confident in the large global market opportunity for our solutions, the strength of our business, and our strategy to continue to lead innovation in genomics and multiomics in support of our customers.”

As the company recently highlighted, Illumina will continue expanding its multiomics portfolio with new roadmap technologies spanning genomics, spatial, single cell, and methylation, as well as a new multimodal data analysis platform. These solutions leverage the power of Illumina’s leading NovaSeq X series platform and will enable researchers to derive breakthrough insights around the drivers of disease. The company will also continue to invest in its services, data, and software offerings that support its core sequencing and multiomics businesses. Each of these efforts supports Illumina’s customers’ important work and underpins Illumina’s strategy as presented during its August 2024 Strategy Update.

Illumina also announced it expects Core Illumina fiscal 2025 non-GAAP diluted EPS of approximately $4.50. The company is instituting an incremental approximately $100 million cost reduction program for fiscal 2025. These savings would mitigate the impact of a range of potential scenarios for a reduction in revenue and related operating income from the company’s Greater China business. The cost reduction program includes optimizing stock-based compensation and non-labor spending and accelerating certain productivity measures.

“Our new fiscal 2025 guidance provides for limited further earnings contribution from China, and assumes a continuation of the macro trends we see today,” said Ankur Dhingra, CFO of Illumina. “We will continue to invest in our growth strategy, while taking actions to achieve EPS of approximately $4.50 in 2025, and then grow from there.”

Financial outlook and guidance
The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related expenses, gains and losses from strategic investments, fair value adjustments to contingent consideration, potential future asset impairments, restructuring activities, and the ultimate outcome of pending litigation without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.

Statement regarding use of non-GAAP financial measures
The company reports non-GAAP results for diluted earnings per share, net income, gross margin, operating expenses, including research and development expense, selling general and administrative expense, legal contingencies and settlement, and goodwill and intangible impairment, operating income, operating margin, gross profit, other income (expense), tax provision, constant currency revenue growth, and free cash flow (on a consolidated and, as applicable, segment basis) in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company’s financial measures under GAAP include substantial charges such as amortization of acquired intangible assets, among others, as well as the effects of currency translation. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP net income, diluted earnings per share and operating margin are key components of the financial metrics utilized by the company’s board of directors to measure, in part, management’s performance and determine significant elements of management’s compensation.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information, to more fully understand its business.

Use of forward-looking statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) uncertainty regarding the impact of our recent inclusion by the China Ministry of Commerce (“MOFCOM”) announcement that Illumina is included on its “unreliable entities list,” MOFCOM’s decision not to permit us to export sequencing instruments into China, as well as tariffs recently imposed or threatened by the U.S. government and its trading partners, and other possible tariffs or trade protection measures; (v) our ability to manufacture robust instrumentation and consumables; (vi) the success of products and services competitive with our own; (vii) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (viii) the impact of recently launched or pre-announced products and services on existing products and services; (ix) our ability to modify our business strategies to accomplish our desired operational goals; (x) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xi) our ability to further develop and commercialize our instruments, consumables, and products; (xii) to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xiii) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xiv) our ability to obtain approval by third-party payors to reimburse patients for our products; (xv) our ability to obtain regulatory clearance for our products from government agencies; (xvi) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xvii) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xviii) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments and (xix) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current quarter.

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.    

Investors:
Salli Schwartz
+1.858.291.6421
ir@illumina.com

Media:
Bonny Fowler
+1.740.641.5579
pr@illumina.com

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SOURCE Illumina, Inc.

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VibeBeats Launches AI-Powered Music Streaming Service for Businesses globally

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Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.

BRISBANE, Australia, July 24, 2026 /PRNewswire-PRWeb/ — VibeBeats Launches AI-Powered Music Streaming Service for Businesses globally

VibeBeats gives venues fully licensed, AI-curated Music at a fraction of the cost — one app, one licence, one platform.

Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.

Most venues playing music through consumer apps are doing it on the wrong licence. VibeBeats, an Australian-built, AI-powered streaming music for business platform, has launched across Australia and worldwide to fix that — turning any phone, tablet or browser into a fully licensed venue sound system in under five minutes. One agreement covers commercial performance rights across OneMusic and APRA AMCOS in Australia, and ASCAP, BMI, PRS and other rights bodies internationally — the same platform serving a café in Melbourne or a gym in London.

The “Spotify for business” that actually exists

Every month, thousands of venue owners worldwide search for “Spotify for business” — a product that doesn’t exist. Consumer streaming accounts are licensed for personal use only, leaving businesses that play them exposed under copyright law in Australia and virtually every other market. VibeBeats fills that gap: a business music streaming service where the commercial music rights are handled under one agreement — no separate music licence for business paperwork to manage.

“The number one thing we see is venue owners assuming it’s fine to play their personal Spotify account in the café — most don’t realise a licence fee even applies,” said Damien King, founder of VibeBeats. “It’s not bad intent. Licensing is complex, and when you’re running a small business there are a hundred competing priorities. VibeBeats solves it with one app, one licence, one platform.”

What VibeBeats delivers

Fully Licensed for Commercial Use — one agreement covers the rights that would otherwise involve OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more.No Hardware Required — any phone, tablet or browser becomes the venue sound system — set up in under five minutes.AI-Curated Background Music for Business — stations matched to venue type and time of day, from morning coffee trade to peak gym floor to late-night bar.Smart Scheduling — playlists by daypart, with music that keeps running through connection drops.Multi-Venue Dashboard — manage every location from a single account.Simple Pricing — from A$29 per month per venue with a 7-day free trial — no lock-in contracts.

Pricing and availability

VibeBeats is available now from $29AUD/$20US per month per venue, and globally, with a 7-day free trial at vibebeats.ai. Purpose-built stations are available for cafés, gyms, retail and in-store environments, bars and hotels.

About VibeBeats

VibeBeats is an AI-powered commercial music streaming platform for businesses, offering direct-licensed music for cafés, restaurants, bars, retail stores, gyms and hotels. One agreement covers commercial performance rights that would otherwise involve PROs, OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more. Australian-built and available globally, VibeBeats AI streams to any device with no proprietary hardware required. Learn more at vibebeats.ai.

VibeBeats is not affiliated with Spotify.

Media Contact

Damien King, Vibebeats AI, 61 0408009067, hello@vibebeats.ai, https://vibebeats.ai

View original content:https://www.prweb.com/releases/vibebeats-launches-ai-powered-music-streaming-service-for-businesses-globally-302832010.html

SOURCE Vibebeats AI

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Inside information: Valmet initiates a strategic review to evaluate a potential separation of its two segments

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Valmet Oyj’s stock exchange release (inside information) on July 24, 2026 at 9.01a.m. EEST 

ESPOO, Finland, July 24, 2026 /PRNewswire/ — The Board of Directors of Valmet Oyj (“Valmet” or the “Company”) has decided to initiate a strategic review to evaluate a potential separation of its two core businesses, Biomaterial Solutions and Services, and Process Performance Solutions, into two standalone publicly listed companies. The review will focus on assessing whether a separation of the two businesses and their operation as separately listed companies on Nasdaq Helsinki would create additional value for shareholders compared with the current combined structure.

Both Valmet’s core businesses report as separate segments and they have grown into large, mostly independent profitable businesses, each with strong market positions and scale that allow them to succeed independently. With the recent completion of the Severn acquisition taking Process Performance Solutions to approximately EUR 1.7 billion in annual net sales and the renewed operating model now firmly in place, the Board believes this is the right time to assess whether a separation would unlock shareholder value by enabling each business to better realise its full potential.

The Board also notes that the two core businesses operate relatively independently as they serve mainly different customer industries, exhibit distinct business drivers, and have different capital allocation profiles. Biomaterial Solutions and Services is a global technology and lifecycle services business focused on the pulp, board, paper, tissue and energy industries, where its competitive advantage is anchored in a vast installed base, advanced technology, global presence, strong customer references and global services penetration. Process Performance Solutions is a mission-critical automation and flow control business serving a diversified set of industries. Over the past decade, it has evolved from a business primarily focused on pulp and paper into a diversified industrial platform, with close to 70 percent of net sales generated from other industries today.

Based on the Board’s initial assessment, a separation would allow each business to pursue sustainable profitable growth opportunities more independently and efficiently, with the potential for sharper management focus, greater agility, more tailored capital allocation, and more flexible access to external capital to support both organic and inorganic growth. The Board will also assess whether, if implemented, a separation would improve transparency, simplify governance, and allow capital markets to better recognize the full value of both businesses.

Pekka Vauramo, Chair of the Board, said:
“The Board continuously evaluates how to create the greatest long-term value for Valmet’s shareholders. Today, Valmet consists of two strong businesses with distinct markets, growth opportunities and capital allocation needs. Through this review, we will assess whether they can create more value as independent companies than they can together. We will only proceed with a separation if we conclude after detailed analysis that separation is clearly in the best interests of our shareholders.” 

Thomas Hinnerskov, President and CEO of Valmet, said:
“Both of our businesses are well positioned, with strong customer relationships and market positions, as well as talented employees. The review reflects the strength and maturity of both businesses, which we have built through strong execution, organic growth and strategic investments into sizeable and successful operations with the scale, capabilities and opportunities to create further value both together and, potentially, as independent companies. This review does not change our commitment to our customers or our strategy. It is a priority for us to preserve the strength of our full offering and the value our customers gain from services, automation and technology working together. Throughout the process, our focus remains on serving our customers and delivering value for their success.”

Although the strategic review has been initiated, there is no guarantee that the review will result in any transaction, including a separation. The Board will only execute or recommend changes to the Group’s structure if clear evidence of enhanced shareholder value creation can be attained. Valmet will provide an update on the review latest in connection with the publication of its full-year 2026 results.

Further information, please contact:

For investors: Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020

For media: Valmet Communications, media@valmet.com

VALMET

Katri Hokkanen
CFO

Pekka Rouhiainen
VP, Investor Relations

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com

Valmet is a global technology leader in serving process industries. We work with our customers throughout the lifecycle, delivering cutting-edge technologies and services, as well as mission-critical automation and flow control solutions. Backed by more than 225 years of industrial experience and a global team of 18,500 professionals close to customers, we are uniquely positioned to transform industries toward a regenerative tomorrow.

In 2025, Valmet’s net sales totaled approximately EUR 5.2 billion. Our head office is in Espoo, Finland, and we have experts in approximately 40 countries around the world. Valmet’s shares are listed on Nasdaq Helsinki.

Follow us on valmet.com | X | LinkedIn | Facebook | YouTube | Instagram |

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Securitas AB Interim Report Q2 2026 | January-June

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STOCKHOLM, July 24, 2026 /PRNewswire/ — 

APRIL–JUNE 2026

Total sales MSEK 37 843 (38 564)Organic sales growth 0 percent (5)Adjusted organic sales growth, 3 percent*Real sales growth within technology and solutions 5 percent (4)Operating income before amortization MSEK 2 824 (2 798)Operating margin 7.5 percent (7.3)Adjusted operating margin, 7.6 percent (7.5)*Items affecting comparability (IAC) MSEK –46 (–166) Earnings per share, SEK 2.88 (2.56)Earnings per share before IAC, SEK 2.94 (2.79)Cash flow from operating activities 87 percent (106)

JANUARY–JUNE 2026

Total sales MSEK 74 054 (78 170)Organic sales growth 0 percent (4)Adjusted organic sales growth, 2 ­percent*Real sales growth within technology and solutions 4 percent (5)Operating income before amortization MSEK 5 283 (5 323)Operating margin 7.1 percent (6.8)Adjusted operating margin, 7.3 ­percent (7.1)*Items affecting comparability (IAC) MSEK 138 (–243) whereof MSEK 213 (–5) related to divestitures Earnings per share, SEK 5.68 (4.86)Earnings per share before IAC, SEK 5.40 (5.15)Cash flow from operating activities 65 percent (56)Net debt/EBITDA ratio 2.2 (2.4) 

*A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, was added as of the third quarter 2025. Refer to note 5 for further information.

Comments from the President and CEO

“Continued profitability improvement”

Organic sales growth in the second quarter, adjusted for the close-down of the SCIS government business, was 3 percent. Organic sales growth in North America was supported by both the Guarding and Technology business units, while active portfolio management had a hampering effect on organic sales growth in Europe. 

Real sales growth in technology and solutions reached 5 percent in the second quarter, supported by good performance in Technology in North America. Commercial activity remained healthy in the global technology business with strong growth in installation order intake and backlog.

We execute on our strategy with the share of technology and solutions increasing across all segments but we are not fully satisfied with the overall growth. We have built a strong and differentiated technology-led offering and we are intensifying our efforts to commercialize the capabilities we have built.

We delivered an improved adjusted operating margin in the second quarter, reaching 7.6 percent (7.5), driven by both the technology and solutions and the security services business lines. Operating income increased 3 percent and earnings per share 7 percent. For the first six months earnings per share increased 11 percent.

Cash generation was good, cor­re­spond­ing to 87 percent (106) of oper­at­ing income in the quarter, and 65 per­cent (56) for the first six months of the year. The net debt to EBITDA ratio was 2.2 (2.4).

THE TRUSTED PARTNER IN INTELLIGENCE-LED SECURITY

Our recently announced 2030 strategy positions Securitas as the trusted partner in intelligence-led security, combining global presence and deep security expertise with advanced data, analytics and technology. By leveraging actionable risk intelligence and a more consultative approach, we aim to move further up the value chain, delivering proactive, insight-driven security and strengthening our role as a strategic advisor to clients. In an increasingly complex risk environment, growing demand for professional security ­ser­vices supports our continued growth and competitive position.

The close-down of the SCIS govern­ment business is progressing accord­ing to plan and is expected to be concluded by year-end. As no further activities remain, the strategic as­sess­­­ment program was concluded in the second quarter of 2026.

The shift toward technology and solutions continues to drive prof­itabil­ity improvements. We are also strength­en­ing the performance of our security services business and, as of the second quarter of 2026, have completed portfolio management actions related to underperforming contracts in Europe. Going forward, portfolio optimization will continue as part of normal business operations, with a sustained focus on contract profitability.

CREATING LONG-TERM SHAREHOLDER VALUE

In conjunction with the launch of our strategy, we have updated the Group’s financial targets for the period through 2030. The revised targets include a new headline target of achieving 10 percent average annual earnings per share growth over a business cycle, alongside targets for cash flow, leverage and dividend policy. With a strong focus on quality and innovation, we are accelerating our transformation and remain confident in our ability to deliver sustainable earnings growth and create long-term shareholder value.

Magnus Ahlqvist
President and CEO

PRESENTATION OF THE INTERIM REPORT

Analysts and media are invited to participate in a telephone ­conference on July 24, 2026, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Matteo Dall’Ora will present the report and answer questions. The ­telephone conference will also be audio cast live via Securitas’ website www.securitas.com

To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/

A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/
after the ­telephone conference.

For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443

ABOUT SECURITAS

Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, ­combined with an innovative, holistic approach, we’re transforming the security ­industry. With approximately 322 000 employees in 44 markets, we see a ­different world and ­create sustainable value for our clients by protecting what matters most – their people and assets.

Group financial targets

Securitas has the following financial targets:

Average annual earnings per share growth of 10 percent over a business cycle, excluding items affecting comparability and adjusted for changes in exchange rates, with a >10 percent operating margin ambition long-termOperating cash flow of 80–90 percent of operating income before amortizationNet debt to EBITDA below 2.5xDividend policy of 50–60 percent of annual net income over a business cycle, with excess capital returned to shareholders once stra-tegic growth priorities are met

Securitas AB (publ.)
P.O. Box 12307, SE-102 28 Stockholm, Sweden
Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302-7241

www.securitas.com

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 8.00 a.m. (CEST) on Friday, July 24, 2026.

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