Tuesday, January 31, 2023

Boomi Named a Leader for Ninth Consecutive Time in Gartner® Magic Quadrant™ for Integration Platform as a Service, Worldwide

 CHESTERBROOK, Pa. - Tuesday, 31. January 2023 AETOSWire Print 



Boomi, a category-leading, global software-as-a-service (SaaS) company, recognized by Gartner for its Ability to Execute and Completeness of Vision

Recognized as one of America’s fastest growing and most innovative technology companies on the Deloitte Technology Fast 500™ and Inc. 5000 lists, Boomi celebrates the largest customer base among integration platform vendors and has won numerous awards for its product excellence and culture

As enterprise demand for digital connectedness, integration, and intelligent automation solutions continues to grow, Boomi continues to scale rapidly around the globe

 


(BUSINESS WIRE)-- BoomiTM, the intelligent connectivity and automation leader, today announced that Gartner has positioned Boomi as a Leader in its Magic Quadrant for Integration Platform as a Service (iPaaS), Worldwide for the ninth consecutive time. Gartner evaluated 16 iPaaS providers on their ability to execute and completeness of vision.


The iPaaS market is projected to reach $11 billion in revenue by 2026.1 Given the advanced capabilities and immense scale of iPaaS vendors, [iPaaS] has become the strategic integration platform of choice for hundreds of thousands of organizations around the world. In many cases, iPaaS has replaced previous generations of integration platform software such as application integration suites, data integration tools and B2B gateway software.2


“Boomi continues to have more customers than any other cloud integration provider,” said Steve Lucas, CEO at Boomi. “Our self-managing, self-learning, and self-scaling integrations run themselves autonomously – saving more time and money over the long term. We help organizations of all sizes and industries worldwide achieve better collaboration and data-sharing as their technology environments become more fragmented and complex. That’s why our mission of digital connectedness is more important than ever for business success.”


Trusted by customers across all industries globally, for its speed, ease-of-use, and lower total cost of ownership, the cloud-native, unified, low code, scalable, open, secure, and intelligent Boomi AtomSphere™ Platform helps organizations across all industries quickly and easily accelerate business outcomes. Boomi connects everyone to everything, anywhere, by providing end-to-end capabilities, including integration, master data management, API management, workflow automation, data quality governance, B2B/EDI network management, and data catalog and preparation.


Boomi recently announced significant updates to its platform and business, including:


Product Innovation


Rapid API Creation – Single-click creation of an API from an integration flow to rapidly expose secure services to developers.

Federal Risk Authorization Management Program (FedRAMP) Authorization – Boomi’s low-code workflow automation service, Boomi Flow, joined other Boomi platform services that have been FedRAMP authorized since 2019, including API Management, Integration, and Master Data Hub.

IRAP Assessment – The Boomi AtomSphere Platform was independently assessed for cloud security against the Australian Government’s Information Security Manual (ISM) PROTECTED controls. Boomi’s security posture for storing, processing, and communicating information allows government agencies to purchase the Boomi platform without needing to complete their own independent assessments.

B2B/EDI for the Automotive Industry – Support for the ODETTE standard for faster interoperability with a customer’s automotive supply chain.

Citizen Integrator/Business Technologist Enhancements


Expanded Boomi Discover Catalog – More pre-built recipes to simplify integration.

Simplified Visual Experience – New iconography, dynamic and responsive user engagement that provides the foundation for an engaging user experience.

Accelerated Product Onboarding – Platform and Welcome Pages make it easy for the citizen integrator/business technologist to launch their journey.

Expanded Leadership and Global Reach


Leadership Expansion – Boomi recently appointed Steve Lucas as Chief Executive Officer, a 3x CEO with more than 27 years of experience leading and operating some of the world’s most innovative, global enterprise software companies. Prior to spending three years growing iCIMS, Lucas held executive roles at Adobe, Marketo, SAP, and Salesforce, and brings specific expertise and experience in data management, platform as a service, and integration. As CEO of Marketo, Lucas implemented significant product expansion and platform growth, leading to Adobe’s $4.75 billion acquisition of the company.

Global Growth – Boomi has also been continuing to scale rapidly, recently expanding its global footprint in Japan to address growing demand across Asia-Pacific.

As a category-leading, global software as a service (SaaS) company, Boomi touts a growing community of more than 100,000 members, and one of the largest arrays of global systems integrators (GSIs) in the iPaaS space. The company boasts a worldwide network of approximately 800 partners, including Accenture, Deloitte, SAP, and Snowflake; and works with the largest hyperscaler cloud service providers, including Amazon Web Services, Google and Microsoft, among others.


Recently included on the Deloitte Technology Fast 500™ and Inc. 5000 lists as one of America’s fastest growing and most innovative technology companies, Boomi has also won two International Stevie® Awards, for Company of the Year and Product Innovation; the Gold Globee® Award in the Platform as a Service (PaaS) category; the Merit Award for Technology in the Cloud Services category; the Stratus Award as a Global Leader in Cloud Computing 2022, and received the prestigious 5-star rating in the CRN Partner Program Guide, a definitive list of the most notable programs from industry-leading technology vendors that provide innovative products and flexible services through the IT channel. Boomi has also won numerous awards for being an employer of choice, including a recent listing as one of Inc. Magazine’s Best Workplaces.


To learn more about the iPaaS market and Boomi’s recognition, read the Gartner report: “Magic Quadrant for Integration Platform as a Service, Worldwide.”


Additional Resources


Learn more in Boomi’s latest blog post from Ed Macosky, Chief Innovation Officer

Explore the Boomiverse Community

Follow Boomi on Twitter, LinkedIn, Facebook, and YouTube

Gartner Disclaimer:


Gartner, Magic Quadrant for Integration Platform as a Service, Worldwide, Keith Guttridge, Andrew Comes, Saikat Ray, January 24, 2023


Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Note: Boomi was recognized as Dell Boomi from 2014 to 2019.


About Boomi


Boomi aims to make the world a better place by connecting everyone to everything, anywhere. The pioneer of cloud-based integration platform as a service (iPaaS), and now a category-leading, global software as a service (SaaS) company, Boomi touts the largest customer base among integration platform vendors and a worldwide network of approximately 800 partners – including Accenture, Capgemini, Deloitte, SAP, and Snowflake. Global organizations turn to Boomi’s award-winning platform to discover, manage, and orchestrate data, while connecting applications, processes, and people for better, faster outcomes. For more information, visit http://www.boomi.com.


© 2023 Boomi, LP. Boomi, the ‘B’ logo, Boomiverse, and AtomSphere are trademarks of Boomi, LP or its subsidiaries or affiliates. All rights reserved. Other names or marks may be the trademarks of their respective owners.


1 Forecast: Enterprise Infrastructure Software, Worldwide, 2020-2026, 4Q22 Update

2 Gartner, Magic Quadrant for Integration Platform as a Service, Worldwide, Keith Guttridge, Andrew Comes, Saikat Ray, January 24, 2023



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Contacts

Kristen Walker

Global Corporate Communications

kristenwalker@boomi.com

+1-415-613-8320

Andersen Global Caps Another Year of Strong Growth with the Addition of 11 New Member Firms Worldwide

 Growing Global Footprint Provides Multinational Clients with Independent, Best-In-Class, Multidisciplinary Services


(BUSINESS WIRE)--Andersen Global, the worldwide leader in tax and legal services, welcomes 11 member firms to its platform, increasing its ability to provide independent, multidisciplinary, borderless service to its global clients. Through its member and collaborating firms, Andersen Global has over 13,000 professionals and a presence in over 390 locations in more than 170 countries on six continents, giving it one of the largest global footprints among multinational, multidisciplinary professional services firms.


New member firms of the organization include:


A&A Tax (Australia)

Law Firm SAJIĆ (Bosnia and Herzegovina)

CN Law (Burundi)

Nimba Conseil (Guinea)

Saint Lawrence Tax Consultancy (Jordan)

Unicase (Kazakhstan)

Halim Hong & Quek (Malaysia)

Tax & Legal Advisers LLC (Tajikistan)

ECC Denetim (Turkey)

MCG Legal (Turkey)

Intuit Management Consultancy (United Arab Emirates, Singapore, India)

“As a firm, we’ve taken tremendous strides in the last year to deepen our capabilities across key markets and specialties, including mergers and acquisitions, valuation and global mobility, to become a true one-stop-shop for our multinational clients,” said Andersen Global Chairman and Andersen CEO Mark Vorsatz. “These member firms reinforce our global approach, further unify the Andersen brand, and enable us to deliver seamless global service, positioning us well for continued growth.”


Andersen Global has grown rapidly since its establishment in 2013. Over the past five years alone, the global organization has expanded into more than 150 countries, averaging more than a deal per week during that time. In 2022 alone, Andersen Global added a new presence or expanded its current footprint in more than 50 new locations and increased its ranks by over 2,000 professionals.


Countries in which Andersen announced an expanded presence in 2022 include:


Africa

Bangladesh, Central African Republic, Chad, Ethiopia, Ghana, Mali, Rwanda, and Tanzania


Americas and the Caribbean

Brazil, the British Virgin Islands, Canada, Guadalupe, Montserrat


Asia and Asia Pacific

Australia, Bangladesh, Indonesia, New Zealand, South Korea, Sri Lanka, Taiwan, and Thailand


Europe

Austria, Belgium, Denmark, Estonia, Finland, France, Iceland, Latvia, Lithuania, Slovakia, Slovenia, Switzerland, and the United Kingdom


Middle East

Pakistan


Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 13,000 professionals worldwide and a presence in over 390 locations through its member firms and collaborating firms.


 


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Contacts

Megan Tsuei

Andersen Global

415-764-2700

Amazon Sets a New Record for Most Renewable Energy Purchased by a Single Company


 SEATTLE 

The company’s renewable energy portfolio now totals more than 20 GW and will generate enough clean energy to power 5.3 million homes in the U.S.


Amazon’s renewable energy purchases last year brought it closer to powering its operations with 100% renewable energy by 2025—five years ahead of its original target


(BUSINESS WIRE) -- Amazon (NASDAQ: AMZN) today announced that in 2022 it grew its renewable energy capacity by 8.3 gigawatts (GW) through 133 new projects in 11 countries. This brings Amazon’s total portfolio to more than 20 GW—that could generate the amount of energy to power 5.3 million U.S. homes—across 401 renewable energy projects in 22 countries. The company’s renewable energy purchases continue to add new wind and solar projects on the grids that power Amazon’s operations, including Amazon Web Services (AWS) data centers, Amazon fulfillment centers, and physical stores around the world.


With these continued investments, Amazon set a new corporate record for the most renewable energy announced by a single company in one year. The company remains the largest corporate buyer of renewable energy—a position it’s held since 2020, according to Bloomberg New Energy Finance. Amazon’s continued investment in renewable energy helps to accelerate growth in new regions through innovative deal structures, technologies, and cloud solutions.


These purchases also bring Amazon closer to powering its operations with 100% renewable energy by 2025—five years ahead of its original 2030 target. In 2022, the company announced new projects in Australia, Canada, Finland, France, Germany, Japan, Poland, Singapore, Spain, and the U.S., and broke ground in Brazil, India, and Indonesia. With 25 new renewable energy projects secured to close out the year, the company now has 401 projects globally, including 164 wind farms and solar farms, and 237 rooftop solar projects on Amazon facilities. Once operational, Amazon’s global renewable energy projects are expected to generate 56,881 gigawatt-hours (GWh) of clean energy each year.


“As we continue to launch new renewable energy projects around the world, we’re pleased to be on track to power our operations with 100% renewable energy, five years ahead of our original target. With 133 projects in 11 countries announced in 2022, Amazon had another record year,” said Adam Selipsky, CEO of AWS. “These projects highlight the diversity of our renewable energy sources and showcase our ability to bring new technologies to new markets and further reduce the impacts of climate change.”


In addition to the 108 clean energy projects the company announced in 2022, Amazon today is announcing 25 additional 2022 clean energy projects. These include:


Eleven new projects in Europe, including Finland, Germany, Italy, Spain, and the United Kingdom, totaling 372 megawatts (MW) of capacity. Tapping into one of the world’s best renewable energy resources, Amazon continued to add to its portfolio of offshore wind projects, investing in two new offshore wind projects in Europe totaling 280 MW of capacity.


Four new projects in North America, totaling 918 MW of energy in Arizona, California, and Texas. A new solar project paired with energy storage in California allows Amazon to store clean energy produced by its solar projects and deploy it when solar energy is not available, such as in the evening hours, or during periods of high demand. Also in California, Amazon added its first on-site solar project at the Amazon Air Hub, where employees pack and handle freight and conduct planeside operations.


Ten new renewable energy projects in India, Indonesia, and Japan. In India, a third 200 MW wind-solar hybrid project was added to Amazon’s first two wind-solar hybrid projects. Renewable hybrid energy systems can play a key role in helping India accelerate the decarbonization of power generation, lowering the cost of electricity in the medium term. These hybrid energy systems also maximize clean energy use on the grid by combining two technologies with different generation profiles, reducing variability in renewable generation, and improving grid stability. In Indonesia, Amazon invested in its first renewable energy projects, securing a first-of-its-kind agreement for corporations to access additional utility-scale solar projects. In Japan, Amazon added three on-site solar projects and a new 38 MW utility-scale solar project.


Rapidly scaling renewable energy is one of the most effective strategies to fight climate change. To ensure organizations’ renewable energy purchases have the greatest impact on emissions reductions, Amazon recently led the creation of the new Emissions First coalition. This coalition is leading advocacy efforts to modernize the world’s leading carbon-accounting standard, helping to reduce carbon from global electricity grids as quickly and cost-effectively as possible.


"Amazon's clean energy portfolio doesn't just top the corporate charts—it is now among the leading utilities globally, as well,” said Kyle Harrison, head of sustainability research at Bloomberg New Energy Finance. “The fact that it announced a new annual record of clean energy in a year mired by a global energy crisis, supply chain bottlenecks and high interest rates speaks to its forward planning and expertise in navigating power markets and executing long-term contracts."


“Amidst the market uncertainty of 2022, Amazon led clean energy buyers and doubled down on its commitment to renewable energy,” said Miranda Ballentine, CEO of Clean Energy Buyers Association (CEBA). “Amazon’s commitment to decarbonization is demonstrated through its leading placement on CEBA’s Deal Tracker Top 10, within our member community, and on a global scale.”


“As Asia continues to transition away from coal and gas, these investments by Amazon in wind and solar are further evidence that there is a large and growing corporate renewable electricity demand in this region. We look forward to continuing to work with Amazon and our other ACEC members to rapidly increase the supply of renewables and to achieve our shared 100% renewable ambitions in the region,” said Sam Kimmins, director of energy at Climate Group and Asia Clean Energy Coalition (ACEC) spokesperson.


Amazon co-founded The Climate Pledge in 2019, committing to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement. The Pledge now has nearly 400 signatories, including Best Buy, IBM, Microsoft, PepsiCo, Siemens, Unilever, Verizon, and Visa. Amazon continues to transform its transportation network, including electrifying its delivery fleet and sourcing alternatives to fossil fuels—it currently has thousands of electric delivery vehicles from Rivian in more than 100 cities and regions in the U.S., more than 3,000 electric vans delivering packages to customers in Europe, and several electric vehicle partnerships in APAC. The company is also investing $2 billion in the development of decarbonizing services and solutions through The Climate Pledge Fund. For more information, visit https://sustainability.aboutamazon.com/.


About Amazon


Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.


About Amazon Web Services


Since 2006, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 99 Availability Zones within 31 geographic regions, with announced plans for 12 more Availability Zones and four more AWS Regions in Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.


 


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Contacts

Amazon.com, Inc.

Media Hotline

Amazon-pr@amazon.com

www.amazon.com/pr

Board Named as a Representative Vendor in 2022 Gartner® Market Guide for Retail Assortment Management Applications: Short Life Cycle Products

 LONDON - Tuesday, 31. January 2023

Board listed by Gartner as one of the vendors for retailers seeking to enhance their short life cycle assortment process in latest Market Guide


(BUSINESS WIRE) -- Board, a leading global provider of Intelligent Planning Solutions which help organizations plan smarter — enabling actionable insights and better outcomes, announces today it has been named as a Representative Vendor in the 2022 Gartner Market Guide for Retail Assortment Management Applications (RAMA): Short Life Cycle Products.


“This important recognition in the latest Gartner Market Guide, in our opinion, demonstrates Board’s crucial role in Retail Assortment Planning and Category Management as part of a retail digital transformation strategy,” said Marco Limena, CEO of Board. “Retail leaders are accelerating intelligent planning with Board, to deliver integrated retail commerce strategies, and transform vital merchandising and assortment processes.”


According to the report, “Retail assortment management applications are foundational for modernizing merchandising processes as part of a digital business transformation strategy in unified retail commerce. CIOs can use this research to identify RAMA solution vendors that can support the transformation.”


The Market Guide recommends that CIOs in retail digital transformation and innovation should partner with senior leadership to create an orchestrated merchandising process where Retail Assortment Management Applications (RAMAs) function as a hub of analysis, planning and execution replacing manual spreadsheet tools.


The full Gartner Market Guide is available here.


According to Gartner, “Retail assortment management applications (RAMAs) support unified commerce processes that are critical to the selection of products presented to the customer in line with their needs. The term “RAMA” is based on a “footprint” covering the high-level functions of advanced assortment planning for short life cycle products; for example, apparel, seasonal and specialty.”


According to the Market Guide produced by analysts Robert Hetu and Jonathan Kutner, as part of the Gartner Retail Digital Transformation and Innovation Initiative, “Retailers cannot continue with their traditional broad approach to assortments, as customers are demanding more curated assessments to match their lifestyles.”


The report recommends that CIOs “implement RAMAs to replace traditional approaches by ‘wedging’ and ‘clustering’ with ‘local’ assortments, which are site specific,” and highlights the strategic planning assumption that by “2024, Tier 1 retailers in North America and Europe will reduce inventory carrying costs by 30%, dramatically improving free cash for digital investments, while revamping balance sheets.”


Gartner disclaimer

Gartner, Market Guide for Retail Assortment Management Applications: Short Life Cycle Products, 21 November 2022, Robert Hetu, Jonathan Kutner


GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.


Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.


About Board


Board’s Intelligent Planning Platform delivers solutions that help over 2,000 organizations worldwide plan smarter — enabling actionable insights and better outcomes. Board helps leading enterprises discover crucial insights which drive business decisions and unify strategy, finance and operations through more integrated and intelligent planning to achieve full control of performance. Partnering with Board, global enterprises such as H&M, BASF, Burberry, Toyota, Coca-Cola, KPMG, and HSBC have digitally transformed their planning processes.


www.board.com


 


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Contacts

Board Contact:

Dan Chappell, VP Global Communications

dchappell@board.com

Caregility Announces Global Expansion, Will Showcase Enterprise Telehealth Solutions at Arab Health 2023

 EATONTOWN, N.J. - Tuesday, 31. January 2023 AETOSWire 



The success of a tele-ICU proof of concept installation at The Ministry of Health’s Seha Virtual Hospital in Saudi Arabia demonstrates the value and opportunity of virtual care and the global viability of the Caregility Cloud™ platform


(BUSINESS WIRE) -- Caregility, a US-based enterprise telehealth leader dedicated to connecting care for patients and clinicians everywhere, is pleased to announce the successful implementation of the Caregility Cloud™ tele-ICU solution at Seha Virtual Hospital. Seha is the Saudi Arabian Ministry of Health’s premier virtual care hospital providing more than 30 specialized clinical services to 130 hospitals throughout the Kingdom, including emergency and critical advice, specialty clinics, multidisciplinary committees, medical support services, and home care services.


To date, the Caregility tele-ICU implementation has facilitated approximately 5,000 sessions of remote clinical support from Seha Virtual Hospital to 17 hospitals throughout the Kingdom. Adoption of the tele-ICU program at Seha reflects a global trend of virtual care innovation aimed at mobilizing a broader range of services for hospitals, regardless of geographic location, to improve patient response times and outcomes and reduce pressure on in-person clinical staff.


“Healthcare organizations across the globe are hurting due to challenges related to staffing shortages and patient surge,” said Bob Zimmermann, Vice President of International Business Development at Caregility. “Our mission is to enable reliable virtual care delivery worldwide that universally improves patient access and better supports providers by bringing virtual engagement to bedside care. Seha’s swift onboarding of clinical staff and significant utilization in a short amount of time highlights the clinical and operational capabilities of the Caregility Cloud platform and the ease with which it can be quickly deployed and adopted globally.”


“The Caregility Cloud platform is a secure, flexible, and scalable solution that is easily adapted to address strict data security requirements in any region of the world because of Caregility’s ability to quickly deploy instances in public and private hosting environments including Microsoft Azure, Oracle Cloud, AWS, and GCP,” noted Bin Guan, Chief Product and Innovation Officer at Caregility.


Caregility plans to expand initiatives in the Middle East and North Africa (MENA) region and will be exhibiting in the USA Pavilion (booth 52) at the 2023 Arab Health conference hosted by Informa Markets from Jan. 30 – Feb. 2, 2023, in Dubai. The event, which welcomed over 53,000 attendees from 184 countries in 2022, brings regional and international policy drivers, thought leaders, and healthcare professionals together to address innovation and sustainability in healthcare. Caregility Senior Vice President of Clinical Solutions Wendy Deibert and Vice President of Marketing Bryan Schnepf will co-present the session “Driving Value with Hybrid Care: Enterprise Telehealth Across the Care Continuum” on Tues., Jan.31, at 13:50 in Transformation Zone P.L10.


Healthcare and media executives attending Arab Health are invited to schedule a meeting with Caregility team members who will be onsite at the event to learn more.


The company also has initiated commercial activities in Australia, New Zealand, and the United Kingdom to further advance its international expansion strategy as interest in the use of telehealth to support virtual nursing, virtual patient observation, and inpatient virtual engagement continues to grow.


About Caregility


Caregility Corporation is dedicated to connecting patients and clinicians everywhere with its Caregility Cloud™ virtual care platform. Awarded the Best in KLAS Virtual Care Platform (non-EMR) in 2021 and 2022, Caregility Cloud™ powers a purpose-built ecosystem of enterprise telehealth solutions across the care continuum. Caregility provides secure, reliable, and HIPAA-compliant audio and video communication designed for any device and clinical workflow, in both acute and ambulatory settings. Today Caregility supports more than 1,000 hospitals across 75 health systems with over five million virtual care sessions hosted annually. From critical and acute, to urgent and emergent, to post-acute and ambulatory, as well as hospital-at-home, Caregility is connecting care everywhere. Follow Caregility on LinkedIn and Twitter at @caregility.


 


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Contacts

Media

Bryan Schnepf

Vice President, Marketing

bschnepf@caregility.com

203.500.4659

Smiths Detection deploys multi-site central image processing solution for DHL Express Australia

 (BUSINESS WIRE)--Smiths Detection, a global leader in threat detection and security screening technologies, today announces that it has deployed a fully operational multi-site central image processing and management solution for DHL Express Australia.


The solution connects existing Smiths Detection HI-SCAN 10080 EDX-2is high-speed automatic explosive detection scanners at the sites in Sydney, Melbourne and Brisbane into one intelligent network that allows all X-ray images to be analysed at a single central location and provides consolidated data analytics and insights. The intelligent centralised screening solution will enable DHL Express Australia to optimise staffing rostering, as well as significantly increase the utilisation of its security operators while reducing overall operational expenditure.


The technology will be used for the safe and efficient screening of international air freight, in line with both TSA and Australian regulations.


Ajay Sankaran, Managing Director of Australia & Sales Director South Asia, Smiths Detection said: “We are delighted to have installed a screening and management platform for DHL Australia. Remote screening and the use of a central management system provides the user with operational data from across the screening process, generating invaluable insights while making it easier to screen for threats and monitor overall performance. The platform can also be easily expanded to include more security screening equipment.”


“The initiative has significantly contributed to the improvement of DHL air cargo examination in all key areas of measurement: screener utilisation, which has resulted in a greater than 40% reduction in X-ray operator hours; decision times and compliance driven by collocation in a purpose-designed screening room; and reduction in insider threat risk due to the separation of the screener from the physical freight. These improvements have been facilitated by the vastly enhanced visibility associated with the centralisation of management.”


ENDS


About the products:


HI-SCAN 10080 EDX-2is is an automatic explosives detection system that uses a dual view X-ray system to allow operators to ‘look behind’ objects while automatically screening baggage for explosives.


MatriX Server is a system management and image distribution system that connects X-ray units and operator workstations. The MatriX Server helps to manage the distribution of images and results within a multi-level X-ray network.


About Smiths Detection:


Smiths Detection is a global leader in threat detection and screening technologies for aviation, ports and borders, urban security and defence. With more than 70 years of field-tested experience, Smiths Detection deliver the solutions needed to protect society from the threat and illegal passage of explosives, prohibited weapons, contraband, toxic chemicals, biological agents, and narcotics – helping make the world a safer place.


For more information visit http://www.smithsdetection.com.


 


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Contacts

Media Contacts:


FTI Consulting:


Tom Hufton/Harriet Jackson/Ffion Dash

sc.smithsdetection@fticonsulting.com, +44 (0)20 3727 1000


Smiths Detection:


Fang Jing Zhi, Regional (North & South Asia) Marketing Manager

jingzhi.fang@smithsdetection.com, +65 9151 2942


Sophie Mills, Head of Corporate Communications

sophie.mills@smithsdetection.com, + 44 (0)73 8423 6474

Business Leaders Do Not Trust Each Others' Climate Claims - Inmarsat Research

 LONDON - Thursday, 26. January 2023

Three quarters of business leaders do not believe their peers’ ESG reporting, according to a new study, showing that a lack of industry trust and verifiable data is driving scepticism

(BUSINESS WIRE) -- Most business leaders (76%) in major industries doubt their peers’ Environmental, Social and Governance (ESG) reporting, according to a new study by Inmarsat, the world leader in global, mobile satellite communications.

The findings come from a new global, independent research report Accelerating sustainable action through IoT commissioned by the company. It explores the views of over 1,000 senior technology and ESG decision-makers across agriculture, mining, transport, utilities and oil & gas firms. The survey asked professionals about their perceptions on ESG and whether they believed data provided by ‘Internet of Things’ (IoT) solutions could help improve reporting transparency.

Respondents also report concerns about their peers’ ESG priorities, with 80% saying their competitors are more focused on perception rather than achieving tangible sustainability outcomes.

However, despite scepticism about the motivations of their peers, most business leaders have faith in their own initiatives: with 81% convinced their company is more sustainable than their competitors.

LACK OF DATA DRIVING LACK OF TRUST

The results suggest that a lack of verifiable hard data – and the willingness to share it – is undermining trust and slowing progress on business sustainability.

Positively, however, many believe data collected via IoT solutions is critical to building trust (81%) and improving ESG outcomes overall (82%).

Four in five respondents plan to increase their use of IoT solutions over the next 12 months to measure and understand the impact of their sustainability initiatives more accurately. A similar proportion reported they are already seeing return on investment from IoT tools used to improve sustainability (78%).

While the majority (83%) agree they could be doing more to effectively leverage IoT solutions to produce ESG data, engrained resistance to data sharing creates an additional barrier to progress.

Only 47% said they would be comfortable sharing all their ESG data with third parties to improve industry reporting and benchmarking over the next 1-3 years, reinforcing that improving trust will be key to achieving better outcomes.

SATELLITE CONNECTIVITY KEY FOR IOT

With big data at the heart of IoT effectiveness, nine in ten (91%) agree that satellite connectivity is the key to harnessing the full potential of IoT solutions focused on improving sustainability.

Currently, just over a third of respondents (36%) rely on satellite networks for IoT connectivity. However, satellite is set to become the most popular method of connectivity over the next decade, with half expecting to use it within this timeframe.

IoT-enabled data is not the only way satellite technology can help improve environmental outcomes. Inmarsat’s recent ‘Can Space Help Save the Planet?’ report revealed that the world could reach Net Zero by 2040 – ten years ahead of schedule – by accelerating the adoption of space and satellite technologies.

Networks such as Inmarsat ELERA are central to this, providing ultra-reliable global connectivity which allows data sharing in industries like agriculture, electrical utilities, mining, oil and gas, and transport.

Jat Brainch, Chief Commercial and Product Officer, Inmarsat said: “You cannot manage what you cannot measure, so it is heartening to see so many organisations looking to IoT to assess and improve ESG reporting.

“To demonstrate progress, however, businesses must overcome their reluctance to share useful data and have the confidence to publish meaningful insights. Otherwise, they risk undermining genuine collaboration on sustainability and overshadowing the real progress being made. There is no quick fix, but creating methodical benchmarks based on actionable data, and sharing the results, will play a critical role in re-establishing trustworthy ESG reporting.

“IoT is nothing without connectivity. Yet terrestrial coverage often cannot reach the remote locations where our most valuable data points frequently originate. By using satellites to close that connectivity gap, organisations can access data to make the right decisions right away. We need to make the most of that opportunity if we are to achieve Net Zero quickly.”

David Hill, Executive Director, IoT Community, said: “Connected IoT solutions are the key to sourcing, analysing and sharing aggregate ESG data in a compliant and secure way. The same way we use wearable devices to measure our personal health, businesses should rely on IoT solutions more to monitor progress, reduce costs, improve safety and maximise sustainability. Robust data will back up their ESG claims and can be used for reporting across all areas of their operations, particularly in remote locations with challenging conditions.

“To achieve true success, we must shift our mindset with regards to data sharing and connectivity. Once businesses become comfortable sharing their ESG insights to improve broader industry reporting and benchmarking and prioritise satellite connectivity as a key enabler, will we start to see real progress on sustainability.”

ENDS

Notes to Editors

The report ‘Accelerating sustainable action through IoT’ focuses on challenges, opportunities and priorities businesses juggle as they work to improve their sustainability credentials and the role satellite-enabled IoT solutions will play in driving this change.

This report is based on independent research conducted by Censuswide on behalf of Inmarsat, surveying 1,000+ senior technology and ESG professionals with sustainability decision-making power across a range of businesses sizes (sole trader, 1-9, 10-49, 50-99, 100-249, 250-500 and 500+ employees). Survey respondents spanned agriculture, mining, oil & gas, utilities and transport sectors across Europe, North America, South America, Africa and Asia. As such, the results represent a broad range of businesses at various stages of their sustainability and industrial IoT adoption journeys. Data was collected in August/September 2022.

ABOUT INMARSAT

Inmarsat delivers world leading, innovative, advanced and exceptionally reliable global, mobile communications across the world – in the air, at sea and on land - that are enabling a new generation of commercial, government and mission-critical services.

In November 2021, Inmarsat and Viasat announced the planned combination of the two companies, to create a new leader in global communications.

 

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Contacts

Dana Dzubas
Email: press@inmarsat.com

Monday, January 30, 2023

2023 Japan Prize Laureates Announced

 


TOKYO

(BUSINESS WIRE) -- The Japan Prize Foundation announced the winners of the 2023 Japan prize at 13:00 today, 30 January 2023 (JST). Prof. Masataka Nakazawa and Mr. Kazuo Hagimoto are co-winners of the Japan Prize in the fields of Electronics, Information, and Communication, and Prof. Gero Miesenböck and Prof. Karl Deisseroth are co-winners of the Japan Prize in the field of Life Science.


For this year’s Japan Prize, Prof. Nakazawa and Mr. Hagimoto are being recognized for their distinguished contributions to global long-distance, high-capacity optical fiber network through the development of semiconductor laser pumped optical amplifier, and Prof. Miesenböck and Prof. Deisseroth are being recognized for their development of methods that use genetically addressable light-sensitive membrane proteins to unravel neural circuit function.


For the 2023 Japan Prize, the Foundation asked approximately 15,500 prominent scientists and engineers from around the world to nominate researchers working in this year’s fields. We received 123 nominations in the fields of Electronics, Information, and Communication, and 204 nominations for the field of Life Science. This year’s winners were selected from that total of 327 candidates.


About the Japan Prize


The establishment of the Japan Prize in 1981 was motivated by the Japanese government's desire to create an internationally recognized award that would contribute to scientific and technological development around the world. With the support of numerous donations, the Japan Prize Foundation received endorsement from the Cabinet Office in 1983.


The Japan Prize is awarded to scientists and engineers from around the world, who have made creative and dramatic achievements that help progress their fields and contribute significantly to realizing peace and prosperity for all humanity. Researchers in all fields of science and technology are eligible for the award, with two fields selected each year in consideration of current trends in scientific and technological development. In principle, one individual in each field is recognized with the award, and receives a certificate, a medal, and a monetary prize. Each Award Ceremony is attended by the current Emperor and Empress, heads of the three branches of government and other related officials, and representatives from various other elements of society.


 


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Contacts

Kiyoshi OGURA

Manager

The Japan Prize Foundation

Public Relations

ARK Mori Building, East Wing 35th Floor

1-12-32 Akasaka, Minato-ku, Tokyo 107-6035, Japan

Tel: 81-3-5545-0551

Fax: 81-3-5545-0554

E-Mail ogura@japanprize.jp

Spesolimab meets primary and key secondary endpoint for prevention of generalized pustular psoriasis flares

 INGELHEIM, Germany - Monday, 30. January 2023 AETOSWire Print 



Spesolimab EFFISAYIL™ 2 trial showed significant prevention of generalized pustular psoriasis (GPP) flares for up to 48 weeks1,2

Results build on data from the EFFISAYIL™ 1 trial, demonstrating the rapid and sustained pustular and skin clearance in flaring adult GPP patients treated with spesolimab3

GPP is a rare and unpredictable systemic skin disease that is distinct from plaque psoriasis in both its disease mechanism and severity4

(BUSINESS WIRE) -- EFFISAYIL™ 2 met its primary and key secondary endpoint, demonstrating that spesolimab, an anti-interleukin-36 receptor antibody, can prevent flares in adolescents and adults with generalized pustular psoriasis (GPP) up to 48 weeks.1,2 Safety data were in line with previously conducted clinical trials with spesolimab.


“Painful GPP flares can occur suddenly, escalate quickly, and may require urgent hospital care leaving people anxious and uncertain about what the future might hold,” said Carinne Brouillon, Member of the Board of Managing Directors, responsible for Human Pharma, Boehringer Ingelheim. “The EFFISAYIL™ 2 results reinforce the potential of spesolimab to prevent GPP flares, giving patients the power to plan their lives, regardless of their disease. We look forward to presenting the data later this year and sharing the findings with regulatory authorities.”


GPP is a rare skin disease, which is distinct from plaque psoriasis.4 GPP flares greatly affect a person’s quality of life and can lead to serious and life-threatening complications, including heart failure, renal failure, and sepsis.4


Spesolimab (marketed as SPEVIGO®) is currently indicated for the treatment of GPP flares in adults.


About spesolimab


Spesolimab is a novel, humanized, selective antibody that blocks the activation of the interleukin-36 receptor (IL-36R), a signaling pathway within the immune system shown to be involved in the pathogenesis of several autoinflammatory diseases, including GPP.4,6,7 Spesolimab has been approved by regulatory authorities in several countries including the US, Japan, Mainland China and the European Union to treat GPP flares in adults.8,9


It is the first approved treatment to specifically target the IL-36 pathway for the treatment of GPP flares that has been evaluated in a statistically powered, randomized, placebo-controlled trial. Further spesolimab data is expected later this year, including the final EFFISAYIL™ 2 results investigating prevention of GPP flares. Spesolimab is also under investigation for the treatment of other IL-36 mediated skin diseases.10


About the EFFISAYIL™ clinical trial program


The EFFISAYIL™ clinical trial program includes:


EFFISAYIL™ 1: Treatment with spesolimab demonstrated rapid pustular and skin clearance in patients with GPP flares, sustained over 12 weeks.3 These results supported the approval of spesolimab (SPEVIGO®) as the first specific treatment for GPP flares in adults in major markets including the US, Japan, Mainland China and the European Union.8,9


EFFISAYIL™ 2: A multicenter, randomized, double-blind, placebo-controlled Phase IIb study evaluating the efficacy and safety of maintenance treatment with subcutaneous (SC) spesolimab for the prevention of GPP flares and sustained control of GPP symptoms in adolescents and adults.1,2


EFFISAYIL™ ON: To evaluate the long-term safety and efficacy of Spesolimab in patients with GPP, who have completed previous Spesolimab trials.5


Results from the EFFISAYIL™ 2 and EFFISAYIL™ ON trials will be presented later this year.


For the full press release including ‘Notes to Editors’ and references please visit: press release


 


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Contacts

Boehringer Ingelheim

Corporate Communications

Media + PR

Laura Lessenich

Phone: +49 (6132) 77-173436

Email: press@boehringer-ingelheim.com


Additional information: www.boehringer-ingelheim.com

Aspen Appoints Mike Duffy To U.K. Boards

 (BUSINESS WIRE)--Aspen Insurance Holdings Limited (“Aspen”) is pleased to announce that Mike Duffy has been appointed to the Aspen Managing Agency Limited (“AMAL”) and Aspen Insurance UK Limited (“AIUK”) Boards as a Non-Executive Director, effective February 1, 2023.


Mike will join the AMAL and AIUK (together, “Aspen U.K.”) Boards as Senior Independent Non-Executive Director (“SID”), Chair of the Nominations Committee, and Chair of the Governance Committee, subject to regulatory approval.


Mike is a vastly experienced and highly respected leader in the Lloyd’s market with a 40-year career across underwriting and broking. He was most recently Group Chief Underwriting Officer for Canopius, where he held several Board roles across the Canopius corporate group of entities. In addition, he has held numerous leadership positions across a range of broking and insurance groups.


During his extensive career, Mike has gained significant risk, governance, transaction and regulatory experience across the U.K., U.S., Bermuda and Singapore insurance and reinsurance markets.


Richard Milner, Chief Executive Officer, Aspen U.K., said: “I am delighted that Mike is joining the Aspen U.K. Boards. His extensive experience in the sector will add further depth and guidance. We look forward to welcoming his insights and expertise as we continue to deliver against our strategic vision for Aspen as a leading, global specialty insurer and reinsurer.”


Mike Duffy added: “I am excited to join the Aspen U.K. Boards at a time when the business is continuing to demonstrate its potential and deliver strong performance. I look forward to working with my fellow Board members, and the wider leadership team, to help Aspen continue its trajectory and deliver value for all its stakeholders.”


-Ends -


About Aspen Insurance Holdings Limited


Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2021, Aspen reported $13.8 billion in total assets, $7.6 billion in gross reserves, $2.8 billion in total shareholders’ equity and $3.9 billion in gross written premiums. Aspen's operating subsidiaries have been assigned a rating of “A” (“Excellent”) by A.M. Best Company Inc. and an “A-” (Strong) by Standard & Poor’s Financial Services LLC. For more information about Aspen, please visit www.aspen.co.


Cautionary Statement Regarding Forward-Looking Statements


This press release may contain written “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are made pursuant to the “safe harbor” provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts. In particular, statements using the words such as “expect,” “intend,” “plan,” “believe,” “aim,” “project,” “anticipate,” “seek,” “will,” “likely,” “assume,” “estimate,” “may,” “continue,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “predict,” “potential,” “on track” or their negatives or variations and similar terminology and words of similar import generally involve forward-looking statements.


 


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Contacts

For further information:


Media


Cecile Locurto

Vice President, Aspen Group Communications

Cecile.locurto@aspen.co

646-352.2828


Tom Blackwell,

Managing Director, FTI Consulting

Tom.Blackwell@fticonsulting.com

+44 (0) 7515 597 866

Andersen Global Bolsters Australian Footprint

 SAN FRANCISCO - Wednesday, 25. January 2023

(BUSINESS WIRE) -- Andersen Global reinforces its Australian platform through a Collaboration Agreement with professional services firm BoardRoom, adding three locations in Sydney, Melbourne and Brisbane. Over the last six months, Andersen’s presence in Australia has grown by more than 400 multidisciplinary professionals following the announcement about a collaboration with Cornwalls less than four months ago.

Operating for more than 50 years, BoardRoom provides its clients with accounting, payroll, corporate secretarial and related services to both private and public entities. The Australian firm is an affiliate of BoardRoom Business Solutions Pte. Ltd., a collaborating firm of Andersen Global with presence across the Asia Pacific region in Singapore, Malaysia, China and Hong Kong.

“We are dedicated to delivering exceptional client-focused solutions driven by innovation and technology,” Office CEO Rhett Tregunna said. “We look forward to joining our BoardRoom colleagues as a collaborating firm of Andersen Global in the Asia Pacific region and enhancing our global capabilities by working with the organization’s other member firms and collaborating firms.”

“The Asia Pacific region is an important market for our global organization and this collaboration with BoardRoom will further solidify our global platform as a one-stop-shop,” Andersen Global Chairman and Andersen CEO Mark Vorsatz said. “Rhett and his team will work synergistically with our member firm and collaborating firm in Australia to provide integrated, best-in-class service in a seamless manner.”

Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 13,000 professionals worldwide and a presence in over 390 locations through its member firms and collaborating firms.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005160/en/

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Contacts

Megan Tsuei
Andersen Global
415-764-2700

 


More Than Half of Visitors to teamLab Planets in Toyosu, Tokyo Now Come From Overseas. Starting in March, Artworks Featuring Cherry Blossoms That Bloom Across the Space Will Be on View for the Spring Season Only

 TOKYO - Saturday, 28. January 2023 AETOSWire


(BUSINESS WIRE)--Approximately 100,000 people from overseas visited teamLab Planets in Toyosu, Tokyo, between December 9, 2022 and January 9, 2023. (*1)

Of the visitors across one month, around 60% , or 1 in 2 visitors, were non-residents visiting Japan (*1), and the number of visitors from overseas has tripled compared to the same month in 2019 (before COVID-19).


Furthermore, according to a survey conducted by the museum, about 70% of the visitors from overseas knew about the museum before considering their trip to Japan, and there was a trend of the museum being one of the main purposes to visit Tokyo. (*2)


*1 From the official website tickets purchaser data (survey period: December 9, 2022 - January 9, 2023)

*2 From the visitor survey data (survey period: December 17, 2022 - January 10, 2023)


We will continue to provide people around the world an experience based on teamLab Planets’ concept, “Immerse your Body, and with Others, Become One with the World”.


From Wednesday, March 1, 2023 to Sunday, April 30, 2023, two works, Floating in the Falling Universe of Flowers and Drawing on the Water Surface Created by the Dance of Koi and People - Infinity, will feature cherry blossoms that bloom across the space, on view during the spring season only.


Floating in the Falling Universe of Flowers, an artwork in which flowers bloom and change with the passage of time, and the universe of life spreads across the space, will be filled with cherry blossoms during this limited period. In the work Drawing on the Water Surface Created by the Dance of Koi and People - Infinity, visitors walk in water and koi swim on the surface of the infinitely expanding water. When the koi collide with people, they turn into cherry blossoms and scatter.


[Works that will feature cherry blossoms]

Floating in the Falling Universe of Flowers

teamLab, 2016-2018, Interactive Digital Installation, Endless, Sound: Hideaki Takahashi


Artwork: https://planets.teamlab.art/tokyo/ew/fitfuof/

Video: https://youtu.be/FzJ5svgIueQ


A seasonal year of flowers bloom and change with time, life spreads out into the universe.

Lie down or sit still in the space and eventually your body floats and you dissolve into the artwork.


Flowers grow, bud, bloom, and in time, the petals fall, and the flowers wither and die. The cycle of birth and death continues for perpetuity.

The artwork is not a pre-recorded image that is played back; it is created by a computer program that continuously renders the artwork in real time. As a whole, it is continuously changing, and previous visual states are never replicated. The universe at this moment in time can never be seen again.


Drawing on the Water Surface Created by the Dance of Koi and People - Infinity

teamLab, 2016-2018, Interactive Digital Installation, Endless, Sound: Hideaki Takahashi


Artwork: https://planets.teamlab.art/tokyo/ew/koi_and_people/

Video: https://youtu.be/SsRNptTOniw


Koi swim on the surface of water that stretches out into infinity. People can walk into the water.


The movement of the koi is influenced by the presence of people in the water and also other koi. When the fish collide with people they turn into flowers and scatter. Throughout the year, the flowers that bloom will change along with the seasons.


The trajectory of the koi is determined by the presence of people and these trajectories trace lines on the surface of the water.


The work is rendered in real time by a computer program. It is neither prerecorded nor on loop. The interaction between the viewer and the installation causes continuous change in the artwork. Previous visual states can never be replicated, and will never reoccur.


[Enjoy vegan ramen in an art space]

Vegan Ramen UZU Tokyo, a vegan ramen restaurant from Kyoto, opened in October 2021 on the same premises as teamLab Planets. Diners can enjoy ramen in teamLab’s Reversible Rotation - Non-Objective Space artwork space, as well as the Table of Sky and Fire and One Stroke Bench outside of the restaurant. Vegan Ramen UZU Tokyo also has vegan ice cream and various teas that are only available in Tokyo. The restaurant can be visited without entry to teamLab Planets.


Vegan Ramen UZU Tokyo: https://vegan-uzu.com/pages/uzu-tokyo


[teamLab Planets TOKYO]


teamLab, Floating Flower Garden; Flowers and I are of the Same Root, the Garden and I are One © teamLab


teamLab Planets is a museum where you walk through water, and a garden where you become one with the flowers. There are four massive exhibition spaces and two gardens.


By immersing your entire body with other people in these massive artworks, the boundary between the body and the artwork dissolves. The self, others, and the world become continuous, and we explore a new relationship without boundaries between ourselves and the world.


Enter barefoot, immerse your body with others in the artwork spaces, and become one with the world.


[Exhibition details]

teamLab Planets TOKYO

Location: teamLab Planets TOKYO, 6-1-16 Toyosu, Koto-ku, Tokyo


[Opening hours]

January - April

Monday - Friday 10:00 - 20:00

Saturdays, Sundays, and holidays 9:00 - 21:00

*March 20 (Mon), March 22 (Wed) - March 24 (Fri) 9:00 - 21:00

*March 25 (Sat) - April 2 (Sun) 9:00 - 22:00

*April 29 (Sat), April 30 (Sun) 9:00 - 22:00

*Last entry 1 hour before closing


[Closed]

February 9 (Thu), March 2 (Thu), April 13 (Thu)


*Opening hours are subject to change. Please check the official website for the latest details.


Official website: https://planets.teamlab.art/tokyo/

teamLab Planets Highlight Video: https://youtu.be/oiQoe9Ow9o0

*teamLab Planets will be open in Toyosu, Tokyo until the end of 2023.


[Tickets]

Adult: 3,200 JPY

Junior high and high school students: 2,000 JPY

Children (4 to 12 years old): 1,000 JPY

3 years old and under: Free

Disability discount: 1,600 JPY


*From Saturday, April 1, 2023: ticket prices for weekends, public holidays, and dates with extended opening hours will change to the prices below.

Adult: 3,500 JPY

Junior high and high school students: 2,300 JPY

Children (4 to 12 years old): 1,300 JPY

3 years old and under: Free

Disability discount: 1,900 JPY


teamLab Planets TOKYO DMM Ticket Store: https://teamlabplanets.dmm.com


[Measures to prevent the spread of COVID-19]

Please check the link below for details on the infection prevention measures implemented at teamLab Planets: https://teamlabplanets.dmm.com/covid-19


[Official HP/Social Media]

Official website: https://planets.teamlab.art/tokyo/

Instagram: https://www.instagram.com/teamlab.planets/

Facebook: https://www.facebook.com/TL.Planets/

Twitter: https://twitter.com/teamLabPlanets

#teamLabPlanets


[Food & Shop]

Vegan Ramen UZU Tokyo: https://vegan-uzu.com/pages/uzu-tokyo

teamLab Flower Shop & Art

*Please check the official website for opening hours

*Closed on the same days as teamLab Planets

[Measures to prevent the spread of COVID-19 (applicable to Food & Shop)]

・Implementation of regular cleaning and disinfection

・Seat disinfection after each customer

・Hand disinfection upon entry

・Restrictions on the number of people in the space

・Ensuring sufficient space between seats

・Employees wear masks

・Removal of tabletop items

・Temperature measurement


[Press kit]

https://goo.gl/tQXMLm


[PLANETS Co., Ltd.]

Established in 2017. Operates and manages the facilities of teamLab Planets TOKYO.

Location: Tokyo Nihonbashi Tower 10F, 2-7-1 Nihonbashi, Chuo-ku, Tokyo

Representative: Takumi Nomoto


[teamLab]

teamLab (f. 2001) is an international art collective. Their collaborative practice seeks to navigate the confluence of art, science, technology, and the natural world. Through art, the interdisciplinary group of specialists, including artists, programmers, engineers, CG animators, mathematicians, and architects, aims to explore the relationship between the self and the world, and new forms of perception.


In order to understand the world around them, people separate it into independent entities with perceived boundaries between them. teamLab seeks to transcend these boundaries in our perceptions of the world, of the relationship between the self and the world, and of the continuity of time. Everything exists in a long, fragile yet miraculous, borderless continuity.


teamLab exhibitions have been held in cities worldwide, including New York, London, Paris, Singapore, Silicon Valley, Beijing, and Melbourne among others. teamLab museums and large-scale permanent exhibitions include teamLab Borderless and teamLab Planets in Tokyo, teamLab Borderless Shanghai, teamLab SuperNature Macao, and teamLab Massless Beijing, with more to open in cities including Abu Dhabi, Hamburg, Jeddah, and Utrecht.


teamLab’s works are in the permanent collection of the Museum of Contemporary Art, Los Angeles; Art Gallery of New South Wales, Sydney; Art Gallery of South Australia, Adelaide; Asian Art Museum, San Francisco; Asia Society Museum, New York; Borusan Contemporary Art Collection, Istanbul; National Gallery of Victoria, Melbourne; and Amos Rex, Helsinki.


Website: https://www.teamlab.art/

Instagram: https://instagram.com/teamlab/

Facebook: https://www.facebook.com/teamLab.inc

Twitter: https://twitter.com/teamLab_net

YouTube: https://www.youtube.com/c/teamLabART


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Contacts

 [Inquiries regarding releases and interviews]

PLANETS Co., Ltd. Public Relations Department

E-mail: pr-info@planets.art

Interview: https://forms.gle/fAtnDKLpQKFME6XR9

Sunday, January 29, 2023

Green Steel Technology Company Boston Metal Announces $120M Series C Financing Led by ArcelorMittal

  BOSTON - Friday, 27. January 2023

Capital will expand scale-up of green steel production at the company’s pilot plant and support construction of first commercial plant in Brazil for high-value metals production

(BUSINESS WIRE) -- Boston Metal, a company developing technology to fully decarbonize steel production, today announced the $120 million first close of Series C fundraising led by multinational steel company, ArcelorMittal S.A. (NYSE: MT). Microsoft's Climate Innovation Fund and SiteGround Capital also joined as new investors in this round, alongside current investors.

ArcelorMittal’s lead investment was made through its XCarb® Innovation Fund. Commenting, Aditya Mittal, CEO, ArcelorMittal, said, “In Boston Metal, we are investing in a team that has made impressive progress over a relatively short period of time, developing a technology that has exciting potential to revolutionize steelmaking. In our extensive discussions with them, we have been impressed by the passion and vision they have to contribute to the decarbonization of steelmaking. They are an exciting and welcome addition to the XCarb® Innovation Fund’s portfolio.”

Boston Metal’s patented Molten Oxide Electrolysis (MOE) process is being commercialized to produce both green steel and high-value metals, such as tin and niobium. The Series C funds will expand the production of green steel at the company’s pilot facility outside Boston and will support the site selection and preliminary design of its first green steel plant. The new resources will also support the construction and commissioning of a manufacturing facility for high-value metals at the company’s Brazilian subsidiary, Boston Metal do Brasil.

“Microsoft’s Climate Innovation Fund was created to accelerate technology development and deployment in areas that will have the most meaningful impact on climate. The technology Boston Metal is developing has the potential to deliver affordable green steel at scale, helping to drive cross-industry decarbonization, which is increasingly critical for companies with carbon reduction targets, such as Microsoft,” said Brandon Middaugh, director, Microsoft Climate Innovation Fund.

With the closing, Irina Gorbounova of ArcelorMittal and Rick Cutright of current investor OGCI Climate Investments joined the company’s board of directors. “Boston Metal has built an incredible team that has been making significant progress advancing its disruptive technology since we first invested in its Series A,” said Rick Cutright, Technology Director at OGCI Climate Investments. “We’re very excited to continue that investment and be part of this next important phase of the company’s growth as it builds capacity that will revolutionize the steel industry and support a net zero economy.”

Steel is one of the most important materials for our society with almost 2 billion tons produced each year, but the industry relies on a carbon intensive manufacturing process that contributes almost 10 percent of global carbon emissions. Major steel consumers in the automotive, construction, and technology sectors are demanding net zero steel solutions, and the steel industry has committed to reaching net zero by 2050. Boston Metal is commercializing a zero emissions technology intended to reach the billion-ton scale at the competitive production costs required to revolutionize the steel industry. The company’s MOE platform uses renewable electricity to convert all iron ore grades into steel through an energy efficient, one-step process. The MOE technology does not release carbon dioxide or other harmful byproducts, and there’s no need for process water, hazardous chemicals, or precious-metal catalysts.

“Our technology is designed to decarbonize steel production at scale. We believe we have the experienced team, strong financial backing, and the innovative technology required to disrupt the industry. ArcelorMittal's support further reinforces our capacity to lead the green steel revolution,” said Tadeu Carneiro, chairman and CEO, Boston Metal.

Complementary to the company’s work in steel, Boston Metal do Brasil is focused on using MOE to advance the efficiency, sustainability, and profitability of metals production. MOE selectively extracts valuable metals from complex, low-concentration materials that are currently considered waste. This enables miners to reduce the financial and environmental liabilities of slag by leveraging this natural by-product of metal production to create new revenue streams. First earnings from Boston Metal do Brasil are anticipated in 2023.

About Boston Metal
Boston Metal is a global metals technology solutions company that is commercializing Molten Oxide Electrolysis (MOE), a patented tonnage metals production platform powered by electricity. MOE is expected to provide the metals industry with a more efficient, lower cost, and greener solution for the production of steel and other metals from a wide variety of feedstocks and iron ore grades. Backed by leading investors and led by a world class team of scientists and metals industry veterans, Boston Metal’s technology is designed for a direct, scalable approach to decarbonize steel production. The company is headquartered in Woburn, Massachusetts with a wholly owned subsidiary in Brazil. To learn more about Boston Metal, visit www.bostonmetal.com.

 



Contacts

Media
Annika Harper
Antenna Group for Boston Metal
bostonmetal@antennagroup.com

 

Wemade Presents New Battlefield ‘Snowfield Area’ in MIR4

  Snowfield Area and new main quests released

Max. Level for Character, Constitution, and Inner Force increased

New Legendary Party Leader Spirit, Small White Dragon Chunryu, shares its skill effects with party members


(BUSINESS WIRE)--Wemade’s blockbuster mobile MMORPG MIR4 released a new battlefield, Snowfield Area, on January 26th.

Snowfield Area is divided into 5 parts: Nine Dragon Ice Field, Nine Dragon Ice Palace, Nine Dragon Labyrinth, Sagittarion Valley, and Sagittarion Temple. Players can clear new quests in Snowfield Area and begin new adventures to find the lost Princess Cheonpa.

Max. character Level has been increased to 180. The Max. level for Constitution has also been increased to 19, and Inner Force to 18. Upon reaching Lv. 180, characters will be able to obtain 'Level Reward Coffer' which contains 'Mystic Mystical Piece Summon Box', 'Epic Divine Dragon's Enhancement Stone', and more, as well as 'Legendary Blue Dragon Statue'.

The first Party Leader Spirit, Small White Dragon Chunryu, has also been added. The spirit's effects are applied to all nearby party members when a character that this spirit summoned becomes the party leader.

The Legendary Water Spirit increases party members' ATK DMG and reduces DMG received from boss monsters. It can also increase Hunting EXP Boost, Antidemon Power, Item Drop Chance and more.

From My Battle, To Our War! Detailed information on MIR4 can be found on the official website.


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Contacts

Wemade Co., Ltd. (112040: KOSDAQ)

Jennifer Jung, PR Manager

jennifer@wemade.com

Saturday, January 28, 2023

FarEye’s Eye on Last-mile Delivery Report Finds 84% of Retailers Lack Control of their Outsourced Delivery Networks

 FarEye Previews Research Results from Retailers; Last-mile Priorities Focused on Reducing Cost to Deliver While Improving Consumer Experience


(BUSINESS WIRE)--The FarEye Eye on Last-mile Delivery Report, conducted with Researchscape International, explores retailers’ and logistics providers’ last-mile delivery priorities and opportunities over the next five years.


Since 2020, last-mile delivery has gone through a transformation, yielding a complex, expensive, inefficient, and unsustainable process. To reduce growing last-mile delivery costs, FarEye’s research revealed that 57% of retailers have outsourced their delivery networks over the past five years, yet 84% of retailers claim their organization needs more control over their outsourced delivery networks.


In a climate where revenue growth, efficiency and sustainability are key priorities for every company, last-mile delivery strategies must adapt to balance reducing delivery costs and improving consumer experiences.


Retailers Favor Outsourced Delivery Networks Which Lack Control


Outsourced delivery networks yield lower cost, faster delivery, and increased capacity but sacrifice control over order tracking and a branded consumer experience. The trend for retailers to outsource their delivery networks contrasts with the fact that only 27% of retailers are using one last-mile delivery platform yet 72% believe it is extremely or very beneficial to merge all technology solutions into one platform, offering a single view, more agility, control and lower cost.


“For retailers that do not have the scale for their own fleet of drivers, outsourcing their delivery networks is the most cost-effective way to deliver with flexibility, however, the tradeoff is less control,” said Stephane Gagne, vice president, product, FarEye. “Rather than outsource their entire last-mile logistics network, retailers should consider having their own last-mile platform that would provide them the flexibility to experiment with different hybrid multi-carrier approaches, outsourcing in some markets, and insourcing in others. This would offer the level of control and visibility they are after, while retaining a superior consumer experience.”


Retailers’ Top Priorities are Balancing Cost of Delivery and Consumer Satisfaction


Last-mile delivery is expensive, accounting for 53% of overall shipping costs. Fifty-five percent of retailers surveyed are focused on reducing cost of delivery over the next five years, in addition to increasing customer satisfaction (53%) as their top two priorities.


The top factors contributing to the high cost of last-mile delivery include: fuel (59%), address location (39%), labor (36%) and first delivery failure (34%). The speed to deliver is a contributing factor as only 44% of retailers reported that all or almost all of their deliveries are made on-time today, however, retailers have a goal of increasing that rate to nearly 70% in 2027. In addition, 35% of retailers reported offering same- or next-day delivery now, and 64% aim to offer it by 2027.


“Instead of speed, retailers should consider improving the reliability of orders through AI and machine learning technology that will help them route orders accurately and efficiently, and ensure carrier allocation and capacity levels match demand,” noted Gagne.


Last-mile Delivery Growth Priorities


In terms of last-mile delivery outlook, 66% of retailers expect their budgets for last-mile delivery technology to grow over the next five years, and 78% of retailers claim they will likely change or buy a new last-mile delivery solution in the next 1-2 years. Forty-eight percent of retailers expect to buy a last-mile delivery platform in the next five years, vs. building their own in-house (32%).


By 2027, retailers also plan to expand their carrier fleets to be more sustainable. Sixty percent of EMEA and APAC respondents and 40% of U.S. respondents planned to use electric vehicles in their fleets in the next five years. Autonomous vehicles are a priority for 43% of APAC respondents, 25% for U.S. and 20% for EMEA respondents, and drones were a priority for 34% of APAC respondents, 29% of EMEA respondents and 22% of U.S. respondents, over the next five years.


Research Methodology


The FarEye Eye on Last-mile Delivery research will be released in two parts, in January and February 2023. FarEye analyzed responses from 300 leaders across retail and logistics with responsibility for logistics and retail operations in the U.S. (32%), EMEA (36%) and APAC (32%) regions.


About FarEye


FarEye’s Delivery Management platform turns deliveries into a competitive advantage. Retail, e-commerce and third-party logistics companies use FarEye’s unique combination of orchestration, real-time visibility, and branded customer experiences to simplify complex last-mile delivery logistics. The FarEye platform allows businesses to increase consumer loyalty and satisfaction, reduce costs and improve operational efficiencies. FarEye has 150+ customers across 30 countries and five offices globally. FarEye, First Choice for Last Mile.


 


View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005266/en/



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https://www.aetoswire.com/en/news/2701202330083

Contacts

Jolene Peixoto, VP, marketing strategy & communications, jolene.peixoto@fareye.com

SLB Announces Fourth-Quarter and Full-Year 2022 Results

 HOUSTON - Friday, 27. January 2023 AETOSWire


Fourth-quarter revenue of $7.9 billion increased 5% sequentially and 27% year on year

Fourth-quarter GAAP EPS of $0.74 increased 17% sequentially and 76% year on year

Fourth-quarter EPS, excluding charges and credits, of $0.71 increased 13% sequentially and 73% year on year

Fourth-quarter cash flow from operations was $1.6 billion and free cash flow was $0.9 billion

Board approved a 43% increase in quarterly cash dividend to $0.25 per share

Full-year revenue of $28.1 billion increased 23% year on year

Full-year GAAP EPS of $2.39 increased 81% year on year

Full-year EPS, excluding charges and credits, of $2.18 increased 70% year on year

Full-year net income attributable to SLB of $3.4 billion increased 83% year on year

Full-year adjusted EBITDA of $6.5 billion increased 31% year on year

Full-year cash flow from operations was $3.7 billion

(BUSINESS WIRE) -- SLB (NYSE: SLB) today announced results for the fourth-quarter and full-year 2022.


 


Fourth-Quarter Results


  (Stated in millions, except per share amounts)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue

$7,879


 

$7,477


 

$6,225


 

5%


 


27%


Income before taxes - GAAP basis

$1,347


 

$1,134


 

$755


 

19%


 


78%


Income before taxes margin - GAAP basis

17.1%


 

15.2%


 

12.1%


 

192 bps


 


495 bps


Net income attributable to SLB - GAAP basis

$1,065


 

$907


 

$601


 

17%


 


77%


Diluted EPS - GAAP basis

$0.74


 

$0.63


 

$0.42


 

17%


 


76%


 

 


 


 


Adjusted EBITDA*

$1,921


 

$1,756


 

$1,381


 

9%


 


39%


Adjusted EBITDA margin*

24.4%


 

23.5%


 

22.2%


 

89 bps


 


219 bps


Pretax segment operating income*

$1,557


 

$1,400


 

$986


 

11%


 


58%


Pretax segment operating margin*

19.8%


 

18.7%


 

15.8%


 

104 bps


 


393 bps


Net income attributable to SLB, excluding charges & credits*

$1,026


 

$907


 

$587


 

13%


 


75%


Diluted EPS, excluding charges & credits*

$0.71


 

$0.63


 

$0.41


 

13%


 


73%


 

 


 


 


Revenue by Geography

 


 


 


International

$6,194


 

$5,881


 

$4,898


 

5%


 


26%


North America

1,633


 

1,543


 

1,281


 

6%


 


27%


Other

52


 

53


 

46


 

n/m


 


n/m


 

$7,879


 

$7,477


 

$6,225


 

5%


 


27%


   

*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", and "Supplemental Information" for details.

n/m = not meaningful

  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue by Division  

Digital & Integration

$1,012


 

$900


 

$889


 

12%


 


14%


Reservoir Performance

1,554


 

1,456


 

1,287


 

7%


 


21%


Well Construction

3,229


 

3,084


 

2,388


 

5%


 


35%


Production Systems

2,215


 

2,150


 

1,765


 

3%


 


26%


Other

(132)


 

(113)


 

(104)


 

n/m


 


n/m


 

$7,879


 

$7,477


 

$6,225


 

5%


 


27%


 

 


 


 


Pretax Operating Income by Division

 


 


 


Digital & Integration

$382


 

$305


 

$335


 

25%


 


14%


Reservoir Performance

282


 

244


 

200


 

16%


 


41%


Well Construction

679


 

664


 

368


 

2%


 


85%


Production Systems

238


 

224


 

159


 

6%


 


49%


Other

(24)


 

(37)


 

(76)


 

n/m


 


n/m


 

$1,557


 

$1,400


 

$986


 

11%


 


58%


 

 


 


 


Pretax Operating Margin by Division

 


 


 


Digital & Integration

37.7%


 

33.9%


 

37.7%


 

386 bps


 


-2 bps


Reservoir Performance

18.2%


 

16.7%


 

15.5%


 

146 bps


 


265 bps


Well Construction

21.0%


 

21.5%


 

15.4%


 

-50 bps


 


564 bps


Production Systems

10.8%


 

10.4%


 

9.0%


 

32 bps


 


173 bps


Other

n/m


 

n/m


 

n/m


 

n/m


 


n/m


 

19.8%


 

18.7%


 

15.8%


 

104 bps


 


393 bps


   

n/m = not meaningful  

SLB CEO Olivier Le Peuch commented, “We delivered strong fourth-quarter results and concluded a remarkable year for SLB with great success. Revenue grew across all Divisions and geographical areas, with robust year-end sales in digital and particularly strong service activity offshore and in the Middle East where we witnessed a significant inflection as capacity expansion projects mobilized.


“Sequentially, fourth-quarter revenue grew 5%; EPS, excluding charges and credits, expanded to $0.71; and adjusted EBITDA margins grew to 24.4%—219 basis points (bps) higher than the same quarter last year—exceeding our target exit rate. More importantly, fourth-quarter pretax segment operating margins and EPS were the highest since 2015, reflecting our enhanced earnings power and potential as activity growth momentum is sustained through the next few years.


An Outstanding Year of Success with Significant Tailwinds


“We concluded the year with 23% growth in revenue; 70% growth in EPS, excluding charges and credits; adjusted EBITDA margin expansion of 152 bps; cash flow from operations of $3.7 billion; and 13% ROCE, its highest level since 2014.


“Overall, 2022 was transformative for SLB as we set new safety, operational, and performance benchmarks for our customers and strengthened our market position both internationally and in North America. We launched our bold new brand identity, reinforcing our leadership position in energy technology, digital, and sustainability, and demonstrated our ability to deliver superior earnings in this early phase of a structural upcycle in energy.


“In North America, we seized the growth cycle throughout the year, increased our pretax operating margins close to 600 bps, and almost doubled our pretax operating income. We effectively harnessed our refocused portfolio, fit-for-basin technology, and performance differentiation to gain greater market access and improved pricing, particularly in the drilling markets where we significantly outperformed rig count growth. Today, we have built one of the highest-quality oilfield services and equipment businesses in North America through the implementation of our returns-focused strategy.


“In the international markets, after a first half of the year that was impacted by geopolitical conflict and supply chain bottlenecks, activity began to visibly inflect in the second half of the year, resulting in full year revenue growth of 20% and margin expansion of more than 150 bps. We laid the foundation for further growth and margin expansion through pricing improvements and a solid pipeline of incremental contract awards. In the Middle East, SLB is well positioned to be a key beneficiary of this visible market expansion, and we expect record levels of upstream investment by NOCs to continue in the next few years. During the year, we secured a sizeable share of tender awards in the region, driven by our differentiated performance, fit-for-purpose technology, and best-in-class local content. Similarly, across offshore basins, we continue to consolidate our advantaged position with new contract awards, particularly in Latin America and Africa.


“In this context, our investments in capex and inventory increased as we exited the year in support of new international and offshore project mobilizations. These factors, combined with lower-than-expected year-end collections, resulted in free cash flow reducing to $0.9 billion for the fourth quarter. Despite these effects, we continued to strengthen our balance sheet during the quarter by reducing both net and gross debt.


“Beyond our financial results, we made significant progress in our sustainability initiatives during the year. We reduced our Scope 1 and 2 carbon emissions intensity and launched several new Transition Technologies* to support the decarbonization of oil and gas. Our Transition Technologies portfolio revenue grew more than 30% year on year, and we project it will cross the $1 billion revenue mark in 2023.


“Finally, we initiated increased returns to shareholders, demonstrating confidence in our strategy, our financial outperformance, and our commitment to superior returns. We increased our dividend by 40% in April 2022, followed by a further 43% increase today, and we resumed our share buyback program this month.


“I am extremely proud of our full-year results, and I would like to extend my thanks to the entire team for their outstanding performance.”


Primed for Strong Growth and Returns—A Distinctive New Phase in the Upcycle


Le Peuch said, “The fourth quarter affirmed a distinctive new phase in the upcycle. In the Middle East, revenue increased by double digits sequentially, with growth in Saudi Arabia, Iraq, and the United Arab Emirates in the solid teens, affirming the much-anticipated acceleration of activity in the region. Offshore activity continued to strengthen, partially offset by seasonality in the Northern Hemisphere. In North America, US land rig count remains at robust levels, although the pace of growth is moderating. Additionally, pricing continues to trend favorably, extending beyond North America and into the international regions, supported by new technology and very tight equipment and service capacity in certain markets.


“These activity dynamics, improved pricing, and our commercial success—particularly in the Middle East, offshore, and North American markets—combine to set a very strong foundation for outperformance in 2023.


“Looking ahead, we believe the macro backdrop and market fundamentals that underpin a strong multi-year upcycle for energy remain very compelling in oil and gas and in low-carbon energy resources. First, oil and gas demand is forecast by the International Energy Agency (IEA) to grow by 1.9 million barrels per day in 2023 despite concerns for a potential economic slowdown in certain regions. In parallel, markets remain very tightly supplied. Second, energy security is prompting a sense of urgency to make further investments to ensure capacity expansion and diversity of supply. And third, the secular trends of digital and decarbonization are set to accelerate with significant digital technology advancements, favorable government policy support, and increased spending on low-carbon initiatives and resources.


“Based on these factors, global upstream spending projections continue to trend positively. Activity growth is expected to be broad-based, marked by an acceleration in international basins. These positive activity dynamics will be amplified by higher service pricing and tighter service sector capacity. The impact of loosening COVID-19 restrictions and an earlier than expected reopening of China could support further upside potential over 2023.


“Overall, the combination of these effects will result in a very favorable mix for SLB with significant growth opportunities in our Core, Digital, and New Energy. We expect another year of very strong growth and margin expansion. We have a clear strategy, an advantaged portfolio, and the right team in place to drive our business forward. I look forward to another successful year for our customers and our shareholders.”


Other Events


On October 26, 2022, SLB announced it entered into an agreement to acquire Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The acquisition will integrate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, to bring customers innovative drilling solutions. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2023.


In December 2022, SLB repurchased $804 million of its outstanding notes, consisting of $395 million of 3.75% Senior Notes due 2024 and $409 million of 4.00% Senior Notes due 2025.


On January 19, 2023, SLB’s Board of Directors approved a 43% increase in SLB’s quarterly cash dividend from $0.175 per share of outstanding common stock to $0.25 per share, beginning with the dividend payable on April 6, 2023, to stockholders of record on February 8, 2023.


Fourth-Quarter Revenue by Geographical Area


  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

North America

$1,633


 

$1,543


 

$1,281


 

6%


 

27%


Latin America

1,619


 

1,508


 

1,204


 

7%


 

34%


Europe/CIS/Africa

2,067


 

2,039


 

1,587


 

1%


 

30%


Middle East & Asia

2,508


 

2,334


 

2,107


 

7%


 

19%


Eliminations & other

52


 

53


 

46


 

n/m


 

n/m


 

$7,879


 

$7,477


 

$6,225


 

5%


 

27%


 

 


 

 


International

$6,194


 

$5,881


 

$4,898


 

5%


 

26%


North America

$1,633


 

$1,543


 

$1,281


 

6%


 

27%


   

n/m = not meaningful

International


Revenue in Latin America of $1.6 billion increased 7% sequentially due to higher Well Construction revenue from increased drilling activity and improved pricing, mainly in Mexico and Brazil. Increased Production Systems sales in Brazil and higher APS project activity in Ecuador also contributed to the sequential revenue growth. Year on year, revenue grew 34% due to higher drilling activity and increased pricing across the area. Higher APS project activity in Ecuador, increased stimulation and drilling activity in Argentina, and higher Production Systems sales and drilling in Brazil also contributed to the year-on-year revenue growth.


Europe/CIS/Africa revenue of $2.1 billion increased 1% sequentially due to strong activity across all Divisions in Africa, mainly in Angola, Central & East Africa, and higher reservoir evaluation and intervention activity in the Caspian, Azerbaijan, and Turkmenistan. These increases, however, were almost fully offset by activity declines in Russia, Scandinavia, and Europe due to the onset of seasonal effects. Compared to the same quarter last year, revenue grew 30% due to strong Well Construction activity and improved pricing across the area, higher Production Systems sales in Europe and Scandinavia, and activity increases in Africa across Divisions.


Revenue in the Middle East & Asia of $2.5 billion increased 7% sequentially mainly due to double-digit growth across the Middle East, primarily in Saudi Arabia, the United Arab Emirates, Iraq, and Qatar, from strong activity led by Well Construction and Production Systems. Asia was sequentially flat as revenue growth in East Asia, India, and Australia was offset by declines in Indonesia and China, with the latter due to the onset of seasonal effects. Year on year, revenue increased 19% due to increased activity across Divisions in Asia and higher activity from new projects in the Middle East—notably, increased drilling and stimulation activity in Saudi Arabia, the United Arab Emirates, Iraq, and Qatar.


North America


North America revenue of $1.6 billion increased 6% sequentially driven by strong year-end exploration data licensing sales in the US Gulf of Mexico boosting North America offshore revenue. US land revenue increased sequentially due to drilling revenue growth, which outperformed the rig count growth. Compared to the same quarter last year, North America revenue grew 27%. All Divisions experienced significant year-on-year revenue growth, led by Well Construction and Production Systems.


Fourth-Quarter Results by Division


Digital & Integration


  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue  

International

$723


 

$671


 

$624


 

8%


 


16%


North America

288


 

229


 

263


 

26%


 


9%


Other

1


 

-


 

2


 

n/m


 


n/m


 

$1,012


 

$900


 

$889


 

12%


 


14%


 

 


 


 


Pretax operating income

$382


 

$305


 

$335


 

25%


 


14%


Pretax operating margin

37.7%


 

33.9%


 

37.7%


 

386 bps


 


-2 bps


   

n/m = not meaningful

Digital & Integration revenue of $1.0 billion increased 12% sequentially, propelled by year-end exploration data licensing sales in the Gulf of Mexico and Africa; increased APS project activity in Ecuador; and higher digital sales in Europe, Africa, and Latin America.


Year on year, revenue growth of 14% was driven primarily by higher APS project revenue in Ecuador and increased exploration data and digital sales both in North America and internationally.


Digital & Integration pretax operating margin of 38% expanded 386 bps sequentially, due to improved profitability in exploration data licensing and digital solutions. Year on year, pretax operating margin was essentially flat.


Reservoir Performance


  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue  

International

$1,430


 

$1,335


 

$1,194


 

7%


 


20%


North America

123


 

119


 

92


 

3%


 


33%


Other

1


 

2


 

1


 

n/m


 


n/m


 

$1,554


 

$1,456


 

$1,287


 

7%


 


21%


 

 


 


 


Pretax operating income

$282


 

$244


 

$200


 

16%


 


41%


Pretax operating margin

18.2%


 

16.7%


 

15.5%


 

146 bps


 


265 bps


   

n/m = not meaningful  

Reservoir Performance revenue of $1.6 billion increased 7% sequentially from new stimulation and intervention projects and activity gains in the Middle East, mainly in Saudi Arabia; intervention activity in the Caspian; and higher exploration evaluation activity as a result of new technology adoption in Europe and Africa, primarily in offshore Scandinavia, Angola, and Ivory Coast.


Year on year, revenue growth of 21% was broad, with double-digit growth across all areas due to increased activity. The revenue growth was led by the Middle East & Asia, which grew 22%. Intervention and stimulation services experienced double-digit growth, both on land and offshore.


Reservoir Performance pretax operating margin of 18% expanded 146 bps sequentially. Profitability was boosted by higher offshore and exploration activity, mainly in Africa, and strong development activity, particularly in US land, and in the Middle East & Asia. Year on year, pretax operating margin expanded 265 bps, with profitability improving both in evaluation and intervention, and geographically improving in US land, Asia, Africa, and Latin America.


Well Construction


  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue  

International

$2,522


 

$2,406


 

$1,901


 

5%


 


33%


North America

652


 

621


 

441


 

5%


 


48%


Other

55


 

57


 

46


 

n/m


 


n/m


 

$3,229


 

$3,084


 

$2,388


 

5%


 


35%


 

 


 


 


Pretax operating income

$679


 

$664


 

$368


 

2%


 


85%


Pretax operating margin

21.0%


 

21.5%


 

15.4%


 

-50 bps


 


564 bps


   

n/m = not meaningful  

Well Construction revenue of $3.2 billion increased 5% sequentially, outperforming global rig count growth due to strong activity from new projects and solid pricing improvements internationally, particularly in the Middle East & Asia and Latin America. Revenue growth in the Middle East was particularly strong in Saudi Arabia and Qatar, while in Latin America, drilling activity increased mainly in Brazil and Mexico. Europe/CIS/Africa was flat as strong growth in Africa—mainly in Angola, Gabon, Namibia, and South Africa—was offset by seasonal effects in the Northern Hemisphere. In North America, sequential revenue growth outpaced the rig count increase in US land. All business lines, which include measurement, drilling, fluids, and equipment, posted sequential increases, with equipment reporting double-digit growth during the quarter.


Year on year, revenue growth of 35% was driven by strong activity and solid pricing improvements, led by Latin America, which grew 54%, and North America which increased 48%. Europe/CIS/Africa revenue increased 29% while Middle East & Asia revenue grew 24% year on year. High double-digit growth was recorded across the Division’s business lines led by drilling fluids and measurements—both on land and offshore.


Well Construction pretax operating margin of 21% contracted 50 bps sequentially, as improved profitability from increasing activity in the Middle East & Asia, North America, and Latin America was more than offset by the onset of seasonal effects in the Northern Hemisphere. Year on year, pretax operating margin expanded 564 bps, with profitability improving across all areas, driven by higher activity and improved pricing.


Production Systems


  (Stated in millions)

  Three Months Ended Change

  Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021 Sequential Year-on-year

Revenue  

International

$1,638


 

$1,569


 

$1,278


 

4%


 


28%


North America

575


 

578


 

484


 

-1%


 


19%


Other

2


 

3


 

3


 

n/m


 


n/m


 

$2,215


 

$2,150


 

$1,765


 

3%


 


26%


 

 


 


 


Pretax operating income

$238


 

$224


 

$159


 

6%


 


49%


Pretax operating margin

10.8%


 

10.4%


 

9.0%


 

32 bps


 


173 bps


   

n/m = not meaningful  

Production Systems revenue of $2.2 billion increased 3% sequentially on higher international sales of artificial lift, completions, and midstream production systems, partially offset by reduced sales of valves and subsea production systems. International revenue was boosted by double-digit growth in the Middle East & Asia, particularly in Saudi Arabia, the United Arab Emirates, Iraq, East Asia, and Australia; and in Latin America, mainly in Brazil, Mexico, and Guyana.


Year on year, double-digit revenue growth of 26% was driven by new projects and increased product deliveries mainly in Europe/CIS/Africa, North America, and Latin America.


Production Systems pretax operating margin of 11% in the quarter expanded 32 bps sequentially due to a more favorable revenue mix. Year on year, pretax operating margin expanded 173 bps driven by higher sales and execution efficiency as supply chain and logistics constraints eased.


Quarterly Highlights


CORE


Contract Awards


As the strong growth cycle in oil and gas advances, SLB continues to secure new contracts in North America and internationally, particularly in offshore basins and the Middle East. During the quarter, SLB secured the following notable projects:


Abu Dhabi National Oil Company (ADNOC) awarded SLB a $1.4 billion framework agreement for integrated drilling fluids services to support onshore and offshore production over the next five years. The services include drilling fluids, liquid mud plants, personnel, and waste management. The agreement builds on existing SLB contributions to ADNOC’s vision to expand lower-cost, lower-carbon production and supports the acceleration of its production capacity target of five million barrels of oil per day by 2027.


In Malaysia, Sarawak Shell Berhad awarded SLB a long-term integrated drilling services (LTIDS) contract for exploration and development of offshore wells. The LTIDS will deliver solutions via technology, synergy, and simplification of processes across multiple business lines with a contract scope that encompasses drilling services and products inclusive of drilling and measurement, electrical wireline, drilling fluids, solids control, cementing, casing drilling, bits, mud logging, and management of third-party subcontractors. SLB will leverage its sustainability portfolio to help Shell deliver cleaner well operations in complex environments.


Offshore Angola, Azule Energy awarded SLB a contract for integrated completions in Block 15/06, including Agogo Field wells. This full-field development plan uses a completion design for these producing and injection wells that includes fit-for-purpose technologies suited for the deepwater environment, such as Alternate Path®† sand screens, FORTRESS* premium isolation valves, BluePack* production packers, Metris Extreme* high-pressure and high-temperature permanent pressure testing gauges, and a deep-set TRC-II* tubing-retrievable charged safety valve.


In the UK, Equinor awarded SLB a four-year contract extension to continue support for Mariner Field development in the North Sea. The integrated drilling and well services contract includes drilling, measurement, electric wireline logging, drilling and completions fluids, solids control, cementing, completions, and electrical submersible pump systems, together with engineering and project management. Including delivery of more than 20 wells over the four years, the contract extension builds on the collaboration between Equinor and SLB and the implementation of well construction technologies and digital solutions that have enabled highest achievements in safety, performance, and sustainability in Mariner Field.


Offshore Trinidad and Tobago, bp awarded to Subsea Integration Alliance a large contract for its Cypre project, a two-phase liquid natural gas tieback. The contract scope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems and subsea pipelines. The award represents Subsea Integration Alliance’s first fully integrated EPCI single contract with bp and the alliance’s first development in the Caribbean nation.


In India, Cairn Oil & Gas, Vedanta Limited awarded SLB a $400 million contract to provide integrated services on its Rajasthan block over a five-year period. The scope of work encompasses 14 services from across all four of SLB’s Divisions, with the objective of improving efficiency in the intervention and workover space, thereby boosting production from the block.


Oil & Gas Decarbonization, New Technology, and Performance


SLB continues to develop and deploy innovative technologies that lower operational emissions and environmental impact in reservoir evaluation, well construction, production, and integrated operations for customers globally. Customer adoption of SLB technology is accelerating and continues to significantly impact performance leading to more efficient operations, lower carbon emissions, and higher returns for our customers. Notable highlights include:


In the US’ Midland Basin, Pioneer Natural Resources successfully deployed novel SLB cement-free slurry technology on an 18-well field testing campaign. This pilot in North America resulted in the complete elimination of Portland cement from slurry designs, offering a unique opportunity for the oilfield industry to substantially decrease CO2 emissions related to well construction. In addition to aligning with Pioneer’s objective to lead in environmental stewardship through proactive measures, the field trials validated the ability of the technology to fit within standard oilfield cementing workflows without major changes to the design process, onsite execution, or post-job evaluation. This innovative SLB solution will be available to customers later this year to help lower oilfield operations emissions and achieve net-zero objectives.


The SLB fit-for-basin frac plug portfolio achieved significant global market adoption milestones. The FracXion Micro* fully composite frac plugs eclipsed 100,000 installations. The full portfolio of ReacXion* fully dissolvable frac plugs, an SLB footprint-reducing technology, achieved 50,000 installations and lowered operators’ CO2e emissions by reducing diesel consumption by an estimated 5.7 million liters. These technologies represent how SLB creates new opportunities by understanding customer needs to amplify our sustainability impact and reduce our customers' cost to operate.


In Saudi Arabia, during November 2022 and working in collaboration with Saudi Aramco Unconventional Resources, SLB’s integrated fracturing services team exceeded previous SLB records for stages and pumping hours per month by 19%. This was achieved through applying latest technologies, best field practices, and close collaboration between Saudi Aramco and SLB. This level of efficiency rivals that of the most efficient fracturing crews in North America. Additionally, real-time job visibility and digitalization of SLB maintenance operations increased asset efficiency and reliability while reducing carbon footprint.


Offshore Norway, the Well Intervention and Stimulation Alliance comprising Aker BP, StimWell Services, and SLB conducted the world's first successful wireline and slickline autonomous operations. These are examples of the SLB Neuro* autonomous solutions, which offer enhanced technologies for improved well economics with repeatability, reliability, and reduced carbon. The automatic conveyance and spooling technology functions without user intervention and matches the performance achieved by experienced operators for safe and efficient execution. The system is now successfully integrated into routine wireline and slickline operations for the Well Intervention and Stimulation Alliance.


DIGITAL


Customers are increasingly choosing to leverage SLB’s portfolio of digital products and services to drive transformation, improve efficiency, and elevate productivity.


In Brazil, Petrobras has awarded SLB a five-year contract to deploy digital solutions for E&P integrated workflows across the board with AI and machine-learning capabilities for more than 500 users. Enabled by the DELFI* cognitive E&P environment, the digital deployment will drive efficiency increases, innovation, and faster decision making to support Petrobras’ aggressive production development plans while helping to lower greenhouse gas emissions with proven reductions in processing time.


In Norway, Equinor awarded SLB a contract to deploy digital leak detection and virtual flow metering solutions for the multiphase production network during phase two of the Johan Sverdrup field. The SLB solution is based on the OLGA Online* production management system, which was selected by Equinor for its technical capabilities. The system will support early pipeline leak detection workflows and deliver accurate virtual flow metering solutions in a challenging technical and regulatory environment. The Johan Sverdrup field is an offshore oil discovery located in the Norwegian Continental Shelf and at plateau the field will produce 720,000 barrels of oil per day.


Kuwait Oil Company (KOC) Innovation & Technology Group, Information Management Team, collaborated with SLB to build an integrated digital workflow using the DELFI cognitive E&P environment to continuously monitor water production in a producing oil field, enabling KOC to avoid potential oil losses of 465,000 barrels. Conventional approaches were unable to detect changes in water cut quickly, preventing KOC engineers from taking timely action to avoid oil losses. A solution was implemented using DELFI Data Science, a package of AI and analytics solutions for energy workflows that includes embedded technology from Dataiku, the platform for everyday AI. The solution provides automated water cut estimation and prediction that is 5,400 times faster than the conventional method. This enables data-driven decision making to minimize oil loss with a few simple clicks that yield results in seconds. Based on the success of this project, KOC recommended full implementation of this solution.


NEW ENERGY


SLB’s domain expertise and experience in technology industrialization is helping to lead the energy transition. We continue to work with partners across various industries to innovate clean energy solutions for a balanced planet.


SLB and Linde entered into a strategic collaboration on carbon capture, utilization, and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors. The collaboration will combine decades of experience in CO2 capture and sequestration; innovative technology portfolios; project development and execution expertise; and engineering, procurement, and construction (EPC) capabilities. CO2 is found or produced in many industrial and energy applications. This collaboration will focus on hydrogen and ammonia production, where CO2 is a by-product, and on natural gas processing. CCUS abates the emissions from these energy-intensive industries, creating new low-carbon energy sources and products. Using SLB and Linde’s global footprint across multiple sectors and industries, the collaboration will expand customer reach and will focus on designing business and operating models that maximize value for all stakeholders.


Genvia, the clean hydrogen technology venture of SLB, France’s CEA, and partners, was selected by the European Commission as part of the Important Project of Common European Interest in the hydrogen technology program (IPCEI-Hy2Tech). Genvia will receive up to 200 million euros from the French Government’s France 2030 fund as part of the program. The grant will be used to accelerate the time to market of Genvia high-performance electrolyzer technology.


SLB is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources. This follows the completion of an extensive project to evaluate data from more than 7,000 oil, gas, and water wells, with the objective of mapping sweet spots for geothermal prospects in the country. The next phase will include assessment of the economic feasibility of the development of potential geothermal resources. This collaboration between the Ministry of Energy and Minerals, Oman Investment Authority, and SLB is in line with Oman’s efforts to decarbonize the energy sector, achieve its net zero goal, and implement Oman Vision 2040.


Celsius Energy, a venture of SLB’s New Energy business focused on heating and cooling solutions for buildings, was awarded a contract for one of the 10 largest geoenergy projects in Europe, where demand for low-carbon and locally sourced energy is rising. This project, based in the eastern region of France, will provide heating and cooling to dozens of buildings by combining geoenergy and waste heat from the world’s largest particle accelerator. Celsius Energy’s proprietary technology will enable the project to be completed with a limited drilling footprint of 174 bores and will leverage patented digital modeling and control capability for smart grid performance optimization.


FINANCIAL TABLES


Full-Year Results (Stated in millions, except per share amounts)

  Twelve Months Ended  

  Dec. 31, 2022 Dec. 31, 2021 Change

Revenue

$28,091


 

$22,929


 

23%


Income before taxes - GAAP basis

$4,271


 

$2,374


 

80%


Income before taxes margin - GAAP basis

15.2%


 

10.4%


 

485 bps


Net income attributable to SLB - GAAP basis

$3,441


 

$1,881


 

83%


Diluted EPS - GAAP basis

$2.39


 

$1.32


 

81%


 

 


Adjusted EBITDA*

$6,462


 

$4,925


 

31%


Adjusted EBITDA margin*

23.0%


 

21.5%


 

152 bps


Pretax segment operating income*

$5,011


 

$3,365


 

49%


Pretax segment operating margin*

17.8%


 

14.7%


 

316 bps


Net income attributable to SLB, excluding charges & credits*

$3,138


 

$1,831


 

71%


Diluted EPS, excluding charges & credits*

$2.18


 

$1.28


 

70%


 

 


Revenue by Geography

 


International

$21,895


 

$18,295


 

20%


North America

5,995


 

4,466


 

34%


Other

201


 

168


 

n/m


 

$28,091


 

$22,929


 

23%


   

*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions", and "Supplemental Information" for details.

n/m = not meaningful

Condensed Consolidated Statement of Income

(Stated in millions, except per share amounts)


  Fourth Quarter Twelve Months

Periods Ended December 31,

2022


 


2021


 


2022


 


2021


   

Revenue

$7,879


 

$6,225


 

$28,091


 

$22,929


Interest & other income, net (1)

174


 

57


 

610


 

148


Expenses  

Cost of revenue

6,308


 

5,136


 

22,930


 

19,271


Research & engineering

178


 

145


 

634


 

554


General & administrative

99


 

109


 

376


 

339


Interest

121


 

137


 

490


 

539


Income before taxes (1)

$1,347


 

$755


 

$4,271


 

$2,374


Tax expense (1)

264


 

144


 

779


 

446


Net income (1)

$1,083


 

$611


 

$3,492


 

$1,928


Net income attributable to noncontrolling interest

18


 

10


 

51


 

47


Net income attributable to SLB (1)

$1,065


 

$601


 

$3,441


 

$1,881


   

Diluted earnings per share of SLB (1)

$0.74


 

$0.42


 

$2.39


 

$1.32


   

Average shares outstanding

1,420


 

1,403


 

1,416


 

1,400


Average shares outstanding assuming dilution

1,442


 

1,430


 

1,437


 

1,427


   

Depreciation & amortization included in expenses (2)

$549


 

$532


 

$2,147


 

$2,120


(1)


See section entitled “Charges & Credits” for details.


(2)


Includes depreciation of property, plant and equipment and amortization of intangible assets, exploration data costs and APS investments.


Condensed Consolidated Balance Sheet

(Stated in millions)


  Dec. 31, Dec. 31,

Assets

2022


 

2021


Current Assets  

Cash and short-term investments

$2,894


 

$3,139


Receivables

7,032


 

5,315


Inventories

3,999


 

3,272


Other current assets

1,078


 

928


 

15,003


 

12,654


Investment in affiliated companies

1,581


 

2,044


Fixed assets

6,607


 

6,429


Goodwill

12,982


 

12,990


Intangible assets

2,992


 

3,211


Other assets

3,970


 

4,183


 

$43,135


 

$41,511


   

Liabilities and Equity  

Current Liabilities  

Accounts payable and accrued liabilities

$9,121


 

$8,382


Estimated liability for taxes on income

1,002


 

879


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

1,632


 

909


Dividends payable

263


 

189


 

12,018


 

10,359


Long-term debt

10,594


 

13,286


Postretirement benefits

165


 

231


Other liabilities

2,369


 

2,349


 

25,146


 

26,225


Equity

17,989


 

15,286


 

$43,135


 

$41,511


Liquidity


(Stated in millions)


Components of Liquidity Dec. 31,

2022 Sept. 30,

2022 Dec. 31,

2021

Cash and short-term investments

$2,894


 

$3,609


 

$3,139


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

(1,632)


 

(899)


 

(909)


Long-term debt

(10,594)


 

(12,452)


 

(13,286)


Net Debt (1)

$(9,332)


 

$(9,742)


 

$(11,056)


   

Details of changes in liquidity follow:  

  Twelve Fourth Twelve

  Months Quarter Months

Periods Ended December 31,

2022


 

2022


 

2021


   

Net income

$3,492


 

$1,083


 

$1,928


Charges and credits, net of tax (2)

(303)


 

(39)


 

(50)


 

3,189


 

1,044


 

1,878


Depreciation and amortization (3)

2,147


 

549


 

2,120


Stock-based compensation expense

313


 

77


 

324


Change in working capital

(1,709)


 

105


 

(45)


US federal tax refund

-


 

-


 

477


Other

(220)


 

(161)


 

(103)


Cash flow from operations

3,720


 

1,614


 

4,651


   

Capital expenditures

(1,618)


 

(572)


 

(1,141)


APS investments

(587)


 

(167)


 

(474)


Exploration data capitalized

(97)


 

(20)


 

(39)


Free cash flow (4)

1,418


 

855


 

2,997


   

Dividends paid

(848)


 

(248)


 

(699)


Proceeds from employee stock plans

222


 

51


 

137


Business acquisitions and investments, net of cash acquired plus debt assumed

(58)


 

(13)


 

(103)


Proceeds from sale of Liberty shares

732


 

218


 

109


Proceeds from sale of ADC shares

223


 

223


 

-


Proceeds from sale of real estate

120


 

-


 

-


Purchases of Blue Chip Swap securities

(259)


 

(259)


 

-


Proceeds from sales of Blue Chip Swap securities

111


 

111


 

-


Taxes paid on net settled stock-based compensation awards

(93)


 

(1)


 

(24)


Other

(105)


 

14


 

(81)


Decrease in net debt before impact of changes in foreign exchange rates

1,463


 

951


 

2,336


Impact of changes in foreign exchange rates on net debt

261


 

(541)


 

488


Decrease in Net Debt

1,724


 

410


 

2,824


Net Debt, beginning of period

(11,056)


 

(9,742)


 

(13,880)


Net Debt, end of period

$(9,332)


 

$(9,332)


 

$(11,056)


(1)


“Net Debt” represents gross debt less cash and short-term investments. Management believes that Net Debt provides useful information regarding the level of SLB’s indebtedness by reflecting cash and investments that could be used to repay debt. Net Debt is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, total debt.


(2)


See section entitled “Charges & Credits” for details.


(3)


Includes depreciation of property, plant and equipment and amortization of intangible assets, exploration data costs, and APS investments.


(4)


“Free cash flow” represents cash flow from operations less capital expenditures, APS investments, and exploration data costs capitalized. Management believes that free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of SLB’s ability to generate cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. Free cash flow does not represent the residual cash flow available for discretionary expenditures. Free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations.


Charges & Credits


In addition to financial results determined in accordance with US generally accepted accounting principles (GAAP), this fourth-quarter and full-year 2022 earnings release also includes non-GAAP financial measures (as defined under the SEC’s Regulation G). In addition to the non-GAAP financial measures discussed under “Liquidity”, net income, excluding charges & credits, as well as measures derived from it (including diluted EPS, excluding charges & credits; SLB Net income attributable to SLB, excluding charges & credits; effective tax rate, excluding charges & credits; and adjusted EBITDA) are non-GAAP financial measures. Management believes that the exclusion of charges & credits from these financial measures enables it to evaluate more effectively SLB’s operations period over period and to identify operating trends that could otherwise be masked by the excluded items. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of certain of these non-GAAP measures to the comparable GAAP measures. For a reconciliation of adjusted EBITDA to the comparable GAAP measure, please refer to the section titled “Supplementary Information” (Question 10).


(Stated in millions, except per share amounts)


  Fourth Quarter 2022

  Pretax Tax Noncont.

Interests Net Diluted

EPS

Net income attributable to SLB (GAAP basis)

$1,347


 

$264


 

$18


 

$1,065


 

$0.74


Gain on ADC equity investment

(107)


 

(3)


 

-


 

(104)


 

(0.07)


Gain on sale of Liberty shares

(84)


 

(19)


 

-


 

(65)


 

(0.05)


Gain on repurchase of bonds

(11)


 

(2)


 

-


 

(9)


 

(0.01)


Loss on Blue Chip Swap transactions

139


 

-


 

-


 

139


 

0.10


Net income attributable to SLB, excluding charges & credits

$1,284


 

$240


 

$18


 

$1,026


 

$0.71


   

  Fourth Quarter 2021

  Pretax Tax Noncont.

Interests Net Diluted

EPS

Net income attributable to SLB (GAAP basis)

$755


 

$144


 

$10


 

$601


 

$0.42


Gain on sale of Liberty shares

(28)


 

(4)


 

-


 

(24)


 

(0.02)


Early repayment of bonds (1)

10


 

-


 

-


 

10


 

0.01


Net income attributable to SLB, excluding charges & credits

$737


 

$140


 

$10


 

$587


 

$0.41


(Stated in millions, except per share amounts)


  Twelve Months 2022

 

Pretax


 


Tax


 


Noncont.

Interests


 


Net


 


Diluted

EPS *


Net income attributable to SLB (GAAP basis)

$4,271


 

$779


 

$51


 

$3,441


 

$2.39


Fourth Quarter  

Gain on ADC equity investment

(107)


 

(3)


 

-


 

(104)


 

(0.07)


Gain on sale of Liberty shares

(84)


 

(19)


 

-


 

(65)


 

(0.05)


Gain on repurchase of bonds

(11)


 

(2)


 

-


 

(9)


 

(0.01)


Loss on Blue Chip Swap transactions

139


 

-


 

-


 

139


 

0.10


Second Quarter  

Gain on sale of Liberty shares

(215)


 

(14)


 

-


 

(201)


 

(0.14)


Gain on sale of certain real estate

(43)


 

(2)


 

-


 

(41)


 

(0.03)


First Quarter  

Gain on sale of Liberty shares

(26)


 

(4)


 

-


 

(22)


 

(0.02)


Net income attributable to SLB, excluding charges & credits

$3,924


 

$735


 

$51


 

$3,138


 

$2.18


   

  Twelve Months 2021

 

Pretax


 


Tax


 


Noncont.

Interests


 


Net


 


Diluted

EPS


Net income attributable to SLB (GAAP basis)

$2,374


 

$446


 

$47


 

$1,881


 

$1.32


Fourth Quarter  

Gain on sale of Liberty shares

(28)


 

(4)


 

-


 

(24)


 

(0.02)


Early repayment of bonds (1)

10


 

-


 

-


 

10


 

0.01


Third Quarter  

Unrealized gain on marketable securities

(47)


 

(11)


 

-


 

(36)


 

(0.03)


Net income attributable to SLB, excluding charges & credits

$2,309


 

$431


 

$47


 

$1,831


 

$1.28


* Does not add due to rounding.


Unless otherwise noted, all Charges & Credits are classified in Interest & other income, net in the Condensed Consolidated Statement of Income.


(1) Classified in Interest in the Condensed Consolidated Statement of Income.


Divisions


(Stated in millions)

  Three Months Ended

  Dec. 31, 2022 Sept. 30, 2022 Dec. 31, 2021

  Revenue Income

Before

Taxes Revenue Income

Before

Taxes Revenue Income

Before

Taxes

Digital & Integration

$1,012


 

$382


 

$900


 

$305


 

$889


 

$335


Reservoir Performance

1,554


 

282


 

1,456


 

244


 

1,287


 

200


Well Construction

3,229


 

679


 

3,084


 

664


 

2,388


 

368


Production Systems

2,215


 

238


 

2,150


 

224


 

1,765


 

159


Eliminations & other

(131)


 

(24)


 

(113)


 

(37)


 

(104)


 

(76)


Pretax segment operating income

1,557


 

1,400


 

986


Corporate & other

(169)


 

(155)


 

(140)


Interest income(1)

14


 

8


 

14


Interest expense(1)

(118)


 

(119)


 

(123)


Charges & credits(2)

63


 

-


 

18


 

$7,879


 

$1,347


 

$7,477


 

$1,134


 

$6,225


 

$755


(Stated in millions)


  Full Year 2022

  Revenue Income

Before

Taxes Depreciation

and

Amortization (3) Net

Interest

Income (4) Adjusted

EBITDA (5) Capital

Investments (6)

Digital & Integration

$3,725


 

$1,357


 

$504


 

$11


 

$1,872


 

$689


Reservoir Performance

5,553


 

881


 

386


 

(34)


 

1,233


 

478


Well Construction

11,397


 

2,202


 

524


 

(25)


 

2,701


 

687


Production Systems

7,862


 

748


 

311


 

(11)


 

1,047


 

346


Eliminations & other

(446)


 

(177)


 

271


 

(1)


 

95


 

102


 

5,011


 

1,996


 

(60)


 

6,948


 

2,302


Corporate & other

(637)


 

151


 

(486)


   

Interest income (1)

27


   

Interest expense (1)

(477)


   

Charges & credits (2)

347


   

 

$28,091


 

$4,271


 

$2,147


 

$(60)


 

$6,462


 

$2,302


(Stated in millions)


  Full Year 2021

  Revenue Income

Before

Taxes Depreciation

and

Amortization (3) Net

Interest

Expense (4) Adjusted

EBITDA (5) Capital

Investments (6)

Digital & Integration

$3,290


 

$1,141


 

$446


 

$13


 

$1,600


 

$516


Reservoir Performance

4,599


 

648


 

415


 

-


 

1,063


 

348


Well Construction

8,706


 

1,195


 

537


 

1


 

1,733


 

424


Production Systems

6,710


 

634


 

302


 

-


 

936


 

267


Eliminations & other

(376)


 

(253)


 

269


 

(1)


 

15


 

99


 

3,365


 

1,969


 

13


 

5,347


 

1,654


Corporate & other

(573)


 

151


 

(422)


   

Interest income (1)

31


   

Interest expense (1)

(514)


   

Charges & credits (2)

65


   

 

$22,929


 

$2,374


 

$2,120


 

$13


 

$4,925


 

$1,654


(1)


Excludes amounts which are included in the segments’ results.


(2)


See section entitled “Charges & Credits” for details.


(3)


Includes depreciation of property, plant and equipment and amortization of intangible assets, APS, and exploration data costs.


(4)


Excludes interest income and interest expense recorded at the corporate level.


(5)


Adjusted EBITDA represents income before taxes excluding depreciation and amortization, interest income, interest expense and charges & credits.


(6)


Capital investments includes capital expenditures, APS investments, and exploration data costs capitalized.


  (Stated in millions)

  Twelve Months Ended  

  Dec. 31, 2022 Dec. 31, 2021 Change

Revenue  

Digital & Integration

$3,725


 

$3,290


 

13%


Reservoir Performance

5,553


 

4,599


 

21%


Well Construction

11,397


 

8,706


 

31%


Production Systems

7,862


 

6,710


 

17%


Other

(446)


 

(376)


 

n/m


 

$28,091


 

$22,929


 

23%


 

 


Pretax Segment Operating Income

 


Digital & Integration

$1,357


 

$1,141


 

19%


Reservoir Performance

881


 

648


 

36%


Well Construction

2,202


 

1,195


 

84%


Production Systems

748


 

634


 

18%


Other

(177)


 

(253)


 

n/m


 

$5,011


 

$3,365


 

49%


 

 


Pretax Segment Operating Margin

 


Digital & Integration

36.4%


 

34.7%


 

177 bps


Reservoir Performance

15.9%


 

14.1%


 

177 bps


Well Construction

19.3%


 

13.7%


 

560 bps


Production Systems

9.5%


 

9.5%


 

6 bps


Other

n/m


 

n/m


 

n/m


 

17.8%


 

14.7%


 

316 bps


 

 


Adjusted EBITDA

 


Digital & Integration

$1,872


 

$1,600


 

17%


Reservoir Performance

1,233


 

1,063


 

16%


Well Construction

2,701


 

1,733


 

56%


Production Systems

1,047


 

936


 

12%


Other

95


 

15


 

n/m


 

$6,948


 

$5,347


 

30%


Corporate & other

(486)


 

(422)


 

n/m


 

$6,462


 

$4,925


 

31%


 

 


Adjusted EBITDA Margin

 


Digital & Integration

50.3%


 

48.6%


 

165 bps


Reservoir Performance

22.2%


 

23.1%


 

-91 bps


Well Construction

23.7%


 

19.9%


 

380 bps


Production Systems

13.3%


 

14.0%


 

-63 bps


Other

n/m


 

n/m


 

n/m


 

24.7%


 

23.3%


 

141 bps


Corporate & other

n/m


 

n/m


 

n/m


 

23.0%


 

21.5%


 

152 bps


n/m = not meaningful  

Geographical


(Stated in millions)


  Full Year 2022

  Revenue Income

Before

Taxes Depreciation

and

Amortization (3) Net

Interest

Income (4) Adjusted

EBITDA (5)

International

$21,895


 

$4,063


 

$1,433


 

$(71)


 

$5,425


North America

5,995


 

1,106


 

353


 

12


 

1,470


Eliminations & other

201


 

(158)


 

210


 

(1)


 

53


 

5,011


 

1,996


 

(60)


 

6,948


Corporate & other

(637)


 

151


 

(486)


Interest income (1)

27


   

Interest expense (1)

(477)


   

Charges & credits (2)

347


   

 

$28,091


 

$4,271


 

$2,147


 

$(60)


 

$6,462


(Stated in millions)


  Full Year 2021

  Revenue Income

Before

Taxes Depreciation

and

Amortization (3) Net

Interest

Expense (4) Adjusted

EBITDA (5)

International

$18,295


 

$3,090


 

$1,353


 

$2


 

$4,445


North America

4,466


 

561


 

343


 

12


 

916


Eliminations & other

168


 

(286)


 

273


 

(1)


 

(14)


 

3,365


 

1,969


 

13


 

5,347


Corporate & other

(573)


 

151


 

(422)


Interest income (1)

31


   

Interest expense (1)

(514)


   

Charges & credits (2)

65


   

 

$22,929


 

$2,374


 

$2,120


 

$13


 

$4,925


(1)


Excludes amounts that are included in the segments’ results.


(2)


See section entitled “Charges & Credits” for details.


(3)


Includes depreciation of property, plant and equipment and amortization of intangible assets, APS, and exploration data costs.


(4)


Excludes interest income and interest expense recorded at the corporate level.


(5)


Adjusted EBITDA represents income before taxes excluding depreciation and amortization, interest income, interest expense and charges & credits.


  (Stated in millions)

  Twelve Months Ended  

  Dec. 31, 2022 Dec. 31, 2021 Change

Revenue  

North America

$5,995


 

$4,466


 

34%


Latin America

5,661


 

4,459


 

27%


Europe/CIS/Africa

7,201


 

5,778


 

25%


Middle East & Asia

9,033


 

8,058


 

12%


Other

201


 

168


 

n/m


 

$28,091


 

$22,929


 

23%


 

 


International

21,895


 

$18,295


 

20%


North America

5,995


 

4,466


 

34%


Other

201


 

168


 

n/m


 

$28,091


 

$22,929


 

23%


 

 


Pretax Segment Operating Income

 


International

$4,063


 

$3,090


 

31%


North America

1,106


 

561


 

97%


Other

(158)


 

(286)


 

n/m


 

$5,011


 

$3,366


 

49%


 

 


Pretax Segment Operating Income Margin

 


International

18.6%


 

16.9%


 

167 bps


North America

18.4%


 

12.6%


 

589 bps


Other

n/m


 

n/m


 

n/m


 

17.8%


 

14.7%


 

316 bps


 

 


Adjusted EBITDA

 


International

$5,425


 

$4,445


 

22%


North America

1,470


 

916


 

61%


Other

53


 

(14)


 

n/m


 

$6,948


 

$5,347


 

30%


Corporate & other

(486)


 

(423)


 

n/m


 

$6,462


 

$4,925


 

31%


 

 


Adjusted EBITDA Margin

 


International

24.8%


 

24.3%


 

47 bps


North America

24.5%


 

20.5%


 

404 bps


Other

n/m


 

n/m


 

n/m


 

24.7%


 

23.3%


 

142 bps


Corporate & other

n/m


 

n/m


 

n/m


 

23.0%


 

21.5%


 

152 bps


n/m = not meaningful  

Supplementary Information

Frequently Asked Questions


1)


What is the capital investment guidance for the full-year 2023?


 


Capital investment (composed of capex, exploration data costs, and APS investments) for the full-year 2023 is expected to be approximately $2.5 to $2.6 billion. Capital investment for the full-year 2022 was $2.3 billion.


 


 


2)


What were cash flow from operations and free cash flow for the fourth quarter of 2022?


 


Cash flow from operations for the fourth quarter of 2022 was $1.6 billion, and free cash flow was $0.9 billion.


 


 


3)


What were cash flow from operations and free cash flow for the full year 2022?


 


Cash flow from operations for the full year 2022 was $3.7 billion, and free cash flow was $1.4 billion.


 


 


4)


What was included in “Interest & other income, net” for the fourth quarter of 2022?


 


“Interest & other income, net” for the fourth quarter of 2022 was $174 million. This consisted as follows (in millions):


Gain on ADC equity investment*

$107


Gain on sale of Liberty shares*

84


Gain on repurchase of bonds*

11


Interest income

33


Earnings of equity method investments

78


Loss on Blue Chip Swap transactions*

(139)


 

$174


*Refer to Question 12  

5)

How did interest income and interest expense change during the fourth quarter of 2022?


 


Interest income of $33 million for the fourth quarter of 2022 increased $1 million sequentially. Interest expense of $121 million decreased $1 million sequentially.


 


 


6)


What is the difference between SLB’s consolidated income before taxes and pretax segment operating income?


 


The difference consists of corporate items, charges and credits, and interest income and interest expense not allocated to the segments as well as stock-based compensation expense, amortization expense associated with certain intangible assets, certain centrally managed initiatives, and other nonoperating items.


 


 


7)


What was the effective tax rate (ETR) for the fourth quarter of 2022?


 


The ETR for the fourth quarter of 2022, calculated in accordance with GAAP, was 19.6% as compared to 18.9% for the third quarter of 2022. Excluding charges and credits, the ETR for the fourth quarter of 2022 was 18.7%. There were no charges and credits in the third quarter of 2022.


 


 


8)


How many shares of common stock were outstanding as of December 31, 2022, and how did this change from the end of the previous quarter?


 


There were 1.420 billion shares of common stock outstanding as of December 31, 2022, and 1.418 billion shares outstanding as of September 30, 2022.


(Stated in millions)


Shares outstanding at September 30, 2022

1,418


Shares issued under employee stock purchase plan

-


Shares issued to optionees, less shares exchanged

1


Vesting of restricted stock

1


Shares outstanding at December 31, 2022

1,420


9)

What was the weighted average number of shares outstanding during the fourth quarter of 2022 and third quarter of 2022? How does this reconcile to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share?


 

The weighted average number of shares outstanding was 1.420 billion during the fourth quarter of 2022 and 1.418 billion during the third quarter of 2022. The following is a reconciliation of the weighted average shares outstanding to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share.


(Stated in millions)


  Fourth Quarter

2022 Third Quarter

2022

Weighted average shares outstanding

1,420


 

1,418


Unvested restricted stock

20


 

21


Assumed exercise of stock options

2


 

-


Average shares outstanding, assuming dilution

1,442


 

1,439


10)

What was SLB’s adjusted EBITDA in the fourth quarter of 2022, the third quarter of 2022, the fourth quarter of 2021, the full-year 2022, and the full-year 2021?


 


SLB’s adjusted EBITDA was $1.921 billion in the fourth quarter of 2022, $1.756 billion in the third quarter of 2022, and $1.381 billion in the fourth quarter of 2021, and was calculated as follows:


(Stated in millions)


  Fourth Quarter

2022 Third Quarter

2022 Fourth Quarter

2021

Net income attributable to SLB

$1,065


 

$907


 

$601


Net income attributable to noncontrolling interests

18


 

12


 

10


Tax expense

264


 

215


 

144


Income before taxes

$1,347


 

$1,134


 

$755


Charges & credits

(63)


 

0


 

(18)


Depreciation and amortization

549


 

533


 

532


Interest expense

121


 

122


 

127


Interest income

(33)


 

(33)


 

(15)


Adjusted EBITDA

$1,921


 

$1,756


 

$1,381


  SLB’s adjusted EBITDA was $6.462 billion in full-year 2022 and $4.925 billion in full-year 2021, and was calculated as follows:

(Stated in millions)


 

2022


 

2021


Net income (loss) attributable to SLB

$3,441


 

$1,881


Net income attributable to noncontrolling interests

51


 

47


Tax expense

779


 

446


Income before taxes

$4,271


 

$2,374


Charges & credits

(347)


 

(65)


Depreciation and amortization

2,147


 

2,120


Interest expense

490


 

529


Interest income

(99)


 

(33)


Adjusted EBITDA

$6,462


 

$4,925


Adjusted EBITDA represents income before taxes, excluding charges & credits, depreciation and amortization, interest expense, and interest income. Management believes that adjusted EBITDA is an important profitability measure for SLB and that it allows investors and management to more efficiently evaluate SLB’s operations period over period and to identify operating trends that could otherwise be masked. Adjusted EBITDA is also used by management as a performance measure in determining certain incentive compensation. Adjusted EBITDA should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP.

11)


What were the components of depreciation and amortization expense for the fourth quarter of 2022, the third quarter of 2022, and the fourth quarter of 2021?


 


The components of depreciation and amortization expense for the fourth quarter of 2022, the third quarter of 2022, and the fourth quarter of 2021 were as follows:


  (Stated in millions)

  Fourth Quarter

2022 Third Quarter

2022 Fourth Quarter

2021

Depreciation of fixed assets

$347


 

$343


 

$345


Amortization of intangible assets

75


 

76


 

76


Amortization of APS investments

102


 

96


 

71


Amortization of exploration data costs capitalized

25


 

18


 

40


 

$549


 

$533


 

$532


12)

What were the components of the pretax net credit of $63 million recorded during the fourth quarter of 2022 related to?


 


The components of the pretax net credits were as follows (in millions):


Gain on ADC equity investment(a)

$107


Gain on sale of Liberty shares(b)

84


Gain on repurchase of bonds(c)

11


Loss on Blue Chip Swap transactions(d)

(139)


 

$63


(a)

SLB has an investment in the Arabian Drilling Company (“ADC”), an onshore and offshore gas and oil rig drilling company in Saudi Arabia, that it accounts for under the equity method. During the fourth quarter of 2022, ADC completed an initial public offering (“IPO”). In connection with the IPO, SLB sold a portion of its interest in a secondary offering that resulted in SLB receiving net proceeds of $223 million. As a result of these transactions, SLB’s ownership interest in ADC decreased from 49% to approximately 34%. SLB recognized a gain of $107 million, representing the gain on the sale of a portion of its interest as well as the effect of the ownership dilution of its equity investment due to the IPO. This gain is classified in Interest & other income, net in the Consolidated Statement of Income.


(b)


During the fourth quarter of 2022, SLB sold 14.1 million of its shares in Liberty and received net proceeds of $218 million. This gain is classified in Interest & other income, net in the Consolidated Statement of Income. As of December 31, 2022, SLB had a 5% equity interest in Liberty.


(c)


During the fourth quarter of 2022, SLB repurchased $395 million of its 3.75% Senior Notes due 2024 and $409 million of its 4.00% Senior Notes due 2025 for $790 million, resulting in a gain of $11 million after considering the write-off of the related deferred financing fees and other costs. This gain is classified in Interest & other income, net in the Consolidated Statement of Income.


(d)


The Central Bank of Argentina maintains certain currency controls that limit SLB’s ability to access US dollars in Argentina and remit cash from its Argentine operations. A legal indirect foreign exchange mechanism exists, in the form of capital market transactions known as Blue Chip Swaps, which effectively results in a parallel US dollar exchange rate. This parallel rate, which cannot be used as the basis to remeasure SLB’s Argentine peso-denominated net monetary assets in US dollars under US GAAP, was approximately 93% higher than Argentina’s official exchange rate at December 31, 2022. During the fourth quarter of 2022, SLB entered into Blue Chip Swap transactions that resulted in a loss of $139 million. This loss is classified in Interest & other income, net in the Consolidated Statement of Income.


13)


How does SLB calculate ROCE (return on capital employed)?


 


SLB calculates ROCE as a ratio, the numerator of which is (a) net income, excluding charges and credits plus (b) after tax net interest expense, and the denominator of which is (x) stockholders’ equity, including non-controlling interests (average of beginning and end of each quarter in the year), plus (y) net debt (average of beginning and end of each quarter in the year). ROCE is a measure of the efficiency of our capital employed, and is a comprehensive indicator of long-term company and management performance.


About SLB


SLB (NYSE: SLB) is a global technology company driving energy innovation for a balanced planet. With a global presence in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.


*Mark of SLB or an SLB company. Other company, product, and service names are the properties of their respective owners.

†Alternate Path is a registered trademark of ExxonMobil Corp; technology licensed to SLB.


Conference Call Information


SLB will hold a conference call to discuss the earnings press release and business outlook on Friday, January 20, 2023. The call is scheduled to begin at 9:30 a.m. US Eastern Time. To access the call, which is open to the public, please contact the conference call operator at +1 (844) 721-7241 within North America, or +1 (409) 207-6955 outside North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 8858313. At the conclusion of the conference call, an audio replay will be available until February 20, 2023, by dialing +1 (866) 207-1041 within North America, or +1 (402) 970-0847 outside North America, and providing the access code 5784911. The conference call will be webcast simultaneously at www.slb.com/irwebcast on a listen-only basis. A replay of the webcast will also be available at the same website until February 20, 2023.


This fourth-quarter and full-year 2022 earnings press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “outlook,” “expectations,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “scheduled,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and performance targets and other forecasts or expectations regarding, or dependent on, our business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; capital expenditures by SLB and the oil and gas industry; our business strategies, including digital and “fit for basin,” as well as the strategies of our customers; our effective tax rate; our APS projects, joint ventures, and other alliances; our response to the COVID-19 pandemic and our preparedness for other widespread health emergencies; the impact of the ongoing conflict in Ukraine on global energy supply; access to raw materials; future global economic and geopolitical conditions; future liquidity; and future results of operations, such as margin levels. These statements are subject to risks and uncertainties, including, but not limited to, changing global economic and geopolitical conditions; changes in exploration and production spending by our customers, and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of our customers and suppliers; the inability to achieve its financial and performance targets and other forecasts and expectations; the inability to achieve our net-zero carbon emissions goals or interim emissions reduction goals; general economic, geopolitical, and business conditions in key regions of the world; the ongoing conflict in Ukraine; foreign currency risk; inflation; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays, or cancellations; challenges in our supply chain; production declines; the extent of future charges; the inability to recognize efficiencies and other intended benefits from our business strategies and initiatives, such as digital or SLB New Energy; as well as our cost reduction strategies; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this press release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this press release are made as of the date of this release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.


 


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Contacts

Investor Relations Contacts:

Ndubuisi Maduemezia – Vice President of Investor Relations

Joy V. Domingo – Director of Investor Relations

Office +1 (713) 375-3535

investor-relations@slb.com


Media Contacts:

Josh Byerly – Vice President of Communications

Moira Duff – Director of External Communications

Office +1 (713) 375-3407

media@slb.com