diff --git "a/validation_500.csv" "b/validation_500.csv" new file mode 100644--- /dev/null +++ "b/validation_500.csv" @@ -0,0 +1,2336 @@ +Company;Date;Sentences;LS;GPT4 +IMERYS S.A.;2022-04-29;"Let me now, on this last slide, wrap up the presentation. Needless to say, that we live today in a more uncertain economic +and in particular, geopolitical environment. For this reason, I believe pricing discipline and cost control will and must +remain a key area of focus for the group.";1;1 +IMERYS S.A.;2022-04-29;"It +would make sense to postpone this Capital Market Day for H2 or what's your take on that? + Alessandro Dazza +Chief Executive Officer +Again, I'll take the second as a first question, not because of the war, but for other reasons, especially the current general +geopolitical and economic situation, we have decided to move our CMD to September. The date has been set and will be +communicated, I guess in the coming days by Benson and our IR team.";3;3 +HICL INFRASTRUCTURE PLC;2022-05-25;"HICL has delivered a 9% per annum total shareholder return on a NAV basis since IPO. That spans 2 recessions, Brexit, +COVID and now, of course, a heightened geopolitical and macroeconomic conditions. HICL's strong inflation correlation, +low beta and predictable yield ensures that HICL remains a core holding for all seasons.";1;1 +MASTERCARD INCORPORATED;2019-07-30;"On the macroeconomic environment, consumer sentiment and spending remained relatively strong with +some moderation versus 2018 as expected. We are continuing to monitor ongoing trade negotiations and +other economic and geopolitical factors, which are showing signs of weighing on business sentiment in +particular. + + MASTERCARD INCORPORATED FQ2 2019 EARNINGS CALL JUL 30, 2019";3;1 +PRINCESS PRIVATE EQUITY HOLDING LIMITED;2023-02-28;"So it's like a kind of a consolidation on a +look-through basis. And you will see that the last 12 months revenue growth of 23.8% in a very difficult economic environment, with +inflation, with geopolitical turmoils and so on. + We've got a last 12-month EBITDA growth of 16.1% and a margin of stellar 20.5%.";1;1 +THE ANDERSONS, INC.;2023-08-02;"And at the midpoint of the year, we are very pleased with our results year- +to-date. We knew that our record second quarter of 2022 results would not repeat given several of the geopolitical and global market +events that occurred last year. That said, our year-to-date results are very strong.";1;1 +THE ANDERSONS, INC.;2023-08-02;"What +it does mean is that volatility in a macro sense coming back to The Andersons I think it plays right into our hands for merchandising +opportunities. So again, a very long winded answer, Ben, to tell you about what's going on in the market, weather and geopolitics, but +that's the exciting news of what's happening today. + Benjamin Shelton Bienvenu +Stephens Inc., Research Division +That's great, Pat.";2;2 +PI INDUSTRIES LIMITED;2017-08-14;"you said that there has been an increase in the inquiry level. As -- +is that something to do with geopolitical tension, which is going on with, let's say, China and Japan. And given our strong +forte and relationship with Japanese companies, are we seeing incremental market share getting shifted towards India or +any other country for that matter?";3;3 +COMMERCIAL METALS COMPANY;2022-10-13;"The last 3 years have exposed the vulnerabilities +of concentrated global supply chains, structured to operate under stable conditions and cooperative political regimes. Pandemic, +geopolitical events have reminded us of the need for a more distributed set of sourcing options, ensuring reliability and flexibility in +securing critical materials and equipment. Eventually, we expect reshoring to extend well beyond the areas we just discussed.";3;3 +GJENSIDIGE FORSIKRING ASA;2023-01-25;"We will stay ahead of claims inflation. And unless the current geopolitical +situation becomes dramatically worse, we do not expect to see any significant negative spillover to our underwriting result. We will +continue to create value for our stakeholders, including paying out attractive dividends to our shareholders.";1;1 +GJENSIDIGE FORSIKRING ASA;2023-01-25;"Thomas Svendsen +SEB, Research Division +Okay. But are there any sort of risks sort of outside the model that you are sort of concerned about, I think, about geopolitical issues, +et cetera, and wanted to have sort of an extra buffer compared to a normal state? +Jostein Amdal +Executive VP & CFO +No. +Geir Holmgren +Chief Executive Officer + +GJENSIDIGE FORSIKRING ASA FQ4 2022 EARNINGS CALL JAN 25, 2023 + Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc.";4;4 +GJENSIDIGE FORSIKRING ASA;2023-01-25;"spglobal.com/marketintelligence +17 +No. As we see the geopolitical situation at the moment, we are not worried about the impact on our business. If it is dramatically +worse at one time, it can have some consequences.";1;1 +ALAMO GROUP INC.;2020-10-29;"Forward-looking statements involve known and unknown risks and uncertainties, which may cause +the company's actual results in future periods to differ materially from forecasted results. + Among those factors which could cause actual results to differ materially are the following: market demand, COVID-19 +impact, competition, weather, seasonality, currency-related issues, geopolitical issues and other risk factors listed from +time to time in the company's SEC reports. The company does not undertake any obligation to update the information +contained herein, which speaks only as of this date.";1;1 +KONINKLIJKE VOPAK N.V.;2017-08-18;"It's clear that we would not exceed the results of 2016 being the highest in the last 5 years period. + Besides the geopolitical developments, our volatility in energy markets, which have been taken into +account in our outlook; the rapid depreciation of the U.S. dollar from around 1.06 in February this year +when we published our 2016 results to around 1.17, 1.20 recently, is expected to put some downward +pressure on our to-be-reported second half 2017 results, on which I will come back when addressing the +outlook for 2017. + The average occupancy rate for the first half year 2017 is 91%, 3% point lower than the 94% in 2016.";3;3 +KONINKLIJKE VOPAK N.V.;2017-08-18;"The reasons for that bandwidth +of volatility is not because of the structural fundamental role we play with our infrastructure in bridging +continents and in on-shoring that supply and demand imbalances, and the resulting physical flows are +properly handled, stored and shipped. The volatility, of course, is due to geopolitical developments, +trading environments, energy situations, and et cetera, et cetera. And the question is, indeed, what will +happen in 2018, we are confident that we are well positioned.";1;1 +NORDSON CORPORATION;2023-05-23;"Our conversations, our customers are pretty bullish about the long-term prospects for this business. As you know, given geopolitical +considerations, given that CHIPS Act is going to come in, what you find our businesses benefit from CapEx expenditures that are +allocated from these kind of investments our customers are making are typically towards the end of their construction. So right now, +people are constructing plants, they would eventually start putting in equipment.";2;3 +INTERCEDE GROUP PLC;2023-11-22;"Again, what we're starting to see is insurance companies not offering people cybersecurity insurance unless they've at least achieved +that basic level of cybersecurity, and that promotes MFA. So in the U.S., in Europe, we're starting to see increased drivers for stronger +authentication partly because of the increase in criminal hacking, partly because of the geopolitical climate, but driving more people +towards our technology in more regions. + Klaas Peter van der Leest +CEO & Director +So government regulation is absolutely good for us as [ highly ] associated standard, which is very much reflected in our client +base.";2;2 +BADGER INFRASTRUCTURE SOLUTIONS LTD.;2022-08-11;"Market indications suggest that non-destructive excavation equipment will be in high demand and more difficult to source +over the next several years, which makes Badger's market position and vertical integration that much more valuable. + Unless there are additional geopolitical or macroeconomic disruptions, we see conditions to be favorable for continued +progress in growing the business, improving our operating leverage and returning to historical margins as the recovery +continues and we execute on our commercial strategy. + I'll now turn the call over to Darren to discuss our financial results.";1;1 +S.J.S. ENTERPRISES LIMITED;2023-05-16;"On the CSR front, the company supported education and health initiatives for +over 1,200 children across 10-plus government schools. So during this quarter, SJS has grown ahead of the industry despite various +external challenges like regulatory headwinds in the domestic 2-wheeler segment, impact on exports due to the prolonged geopolitical +issues and the macroeconomic headwinds like inflation, rising crude prices impacting demand recover in consumer appliances. + Just to update you, the government announced implementation of stricter environmental OBD-2 norms with effect from 1st of +April '23.";1;1 +S.J.S. ENTERPRISES LIMITED;2023-05-16;"All Rights reserved. + spglobal.com/marketintelligence +7 +Share of business from our export declined due to adverse impact of geopolitical issues and macroeconomic challenges in many +regions. Decline in export also impacted sale of new generation products to a certain extent and hence overall contribution of new +generation products to revenue is 9% to 10% for FY '23.";3;3 +ECHOSTAR CORPORATION;2022-05-05;"Industry partners and customers want to work +with our team. Government and enterprises alike would prefer working with a trusted partner during uncertain geopolitical +developments as we are experiencing today. + Third, we have a tremendous, and I would say, unmatched asset in our engineering capabilities.";2;2 +CRESCENT ENERGY COMPANY;2023-03-08;"Todd Falk, Chief Accounting Officer and Ben Conner +and Clay Rynd, both Executive Vice Presidents, are also here today and available during the Q&A. +Today's call may contain projections and other forward-looking statements within the meaning of federal securities laws. These +statements are subject to risks and uncertainties, including commodity price volatility, global geopolitical conflicts, our business +strategies and other factors that may cause actual results to differ from those expressed or implied in these statements and our other +closures. We have no obligation to update any forward-looking statements after today's call.";1;1 +ORKLA ASA;2022-05-05;"The improvement in EBIT in this quarter for Foods should be seen in light +of the Go Live with a new ERP system in Sweden in Q1 last year, which incurred higher costs and temporarily a lower +productivity. + Significant price increases have been implemented through -- in all markets, while the latest cost pressure arising from the +geopolitical situation requires further pricing actions this year. + Let's then move to Confectionery & Snacks.";1;3 +CHEMTRADE LOGISTICS INCOME FUND;2022-08-11;"North American rig count was 950 in July 2022 compared to 606 on average in 2021 and 522 in 2020. We expect this +trend to continue to improve as geopolitical conflicts drive increased exports of LNG from North America to Europe, +resulting in higher fracking activity. + As a reminder, caustic soda and chlorine are co-products and that we can upgrade chlorine to hydrochloric acid.";2;2 +CNH INDUSTRIAL N.V.;2022-07-29;"We finished the first half of 2022 with record second quarter +revenues, up 17.5% year-over-year in spite of a 3% currency headwind. I am proud of the team's resolute performance in +the face of the dynamic and challenging global economic and geopolitical environment. + Their efforts exemplify our commitment to meeting our agriculture and construction customers' needs as their customers +depend on us to feed in-house an ever-growing population.";1;1 +CNH INDUSTRIAL N.V.;2022-07-29;"Dillon Gerard Cumming +Morgan Stanley, Research Division +Just wanted to check in on the European side of the portfolio. I think, Scott, you mentioned that kind of the order trends +have been holding up a bit better in the context of all the geopolitical dynamics over there. Just kind of curious if you could +reconcile some of the deterioration we've seen in some of the sentiment";1;1 +NEW RESIDENTIAL INVESTMENT CORP.;2020-07-22;"And then around that, think about the upcoming election and +recent ruling by the Supreme Court that could end up impacting the FHFA as far as who runs that, being a presidential +appointee. Can you talk about any positives or negatives that either could benefit or hurt you guys as you think about the +changes taking place in the... +Michael Nierenberg +Chairman, President & CEO +So on -- from a macro perspective, on the geopolitical side, I can't help anybody there. We don't have any control on +what's going to happen with CFPB and FHFA and what we need to do is continue to perform for our customers and +continue to do what we need to do there.";1;1 +CONOCOPHILLIPS;2022-05-05;"We are fortunate that the United States has abundant resources to +ensure our own energy security. These resources also provide vital geopolitical benefits. Secure U.S. energy exports +serve as a market stabilizing factor, enabling our allies to better withstand energy blackmail by hostile and unreliable +resources.";2;2 +MODINE MANUFACTURING COMPANY;2021-02-05;"We continue to monitor a number of issues that may impact our raw material costs, including tariffs and the rollback of +certain exclusions that we benefited from in the past. We are always working to improve our manufacturing and supply +chain strategies, which have been complicated by geopolitical and economic trends, including tariffs. This will continue +to be a focus as we analyze our risk and implement mitigation strategies.";3;3 +INTELLECT DESIGN ARENA LIMITED;2023-05-12;"Related to risk, a fourth question. Yes, geopolitical risk we have seen over the last 7 years, starting from Brexit to Trump, then to +Ukraine War to now U.S. and America crash of the banks, those are part and parcel of our business portfolio. It does impact 2 to 3 +quarters when the industry start assimilating the impact of such kind of a risk.";3;3 +PRIO S.A.;2023-11-01;"You were just structuring this new area of the +company. And there was a concern about the sale process because the scale of the company was changing a lot in this new geopolitical +context and the war. There were some changes in the sales flow of the oil.";3;3 +TORM PLC;2019-08-15;"That would be a significant risk. So if I +take that risk -- then the other risk would be that I think the geopolitical environment, and there is quite +a lot of things going around there, would have a negative effect on consumers, on decision-makers in +general and that you would have an abrupt halt to the -- albeit this slower growth but still growth in the +world economy, but that you would simply see a recession worldwide due to geopolitical factors. And those +would be the 2 things that you could see as scenarios which would be negative and which would change +our outlook.";1;1 +TORM PLC;2019-08-15;"And if I take the second one, I'm -- basically, I have not much more control than anybody else, obviously. + The geopolitical environment seems to be changing by each week. So I don't think we should try to get +into that too much.";4;4 +ADIDAS AG;2019-11-06;"Starting with emerging markets. They increased 14% despite geopolitical tensions in some countries and +the segment's operating margin decreased actually by 250 basis points as the gross margin normalized +and was only partly offset by a lower OpEx ratio. + Revenues in Latin America increased 5% despite an unfavorable macro backdrop and political turmoil +in several countries.";1;1 +INVESCO LTD.;2017-01-26;"Presentation +.................................................................................................................................................................... +Unknown Executive +This presentation and comments made in the associated conference call today may include forward- +looking statements. Forward-looking statements include information concerning future results +of our operations, expenses, earnings, liquidity, cash flow and capital expenditures, industry or +market conditions, AUM, geopolitical events and their potential impact on the company, acquisitions +and divestitures, debt and our ability to obtain additional financing or make payments, regulatory +developments, demand for and pricing of our products and other aspects of our business or general +economic conditions. In addition, words such as believes, expects, anticipates, intends, plans, estimates, +projects, forecasts and future or conditional verbs such as will, may, could, should and would; as well as +any other statement that necessarily depends on future events are intended to identify forward-looking +statements.";4;4 +SIGNIFY N.V.;2021-10-29;"But nevertheless, I believe this is something that we need to do +because it has other positive elements. I think it's -- if we are more continentally based, it will be probably more in line with +the geopolitical attentions that we see at this point in time, and it will help us at the level of our working capital probably to +alleviate some of the working capital that we have in some regions. If we source more locally, we are much, much faster in +terms of delivery, which has a lot of added collateral benefits.";3;3 +EMAMI LIMITED;2018-10-30;"And that should help deliver good growth from +quarter 3, quarter 4 for us from CIS markets. And also in MENA region, particularly Saudi Arabia, we had +suffered a lot because of the demand issues, a lot of those geopolitical problems in those markets, a lot of +Indian expats were -- the Asian expats were getting deported with falling crude prices earlier last year. But +now all these things are getting back to traction.";1;3 +PPG INDUSTRIES, INC.;2022-10-20;"Looking ahead to the fourth quarter, normal seasonal demand trends are expected, including lower sequential sales in most of +our architectural businesses and also in our Traffic Solutions business, where sales historically fall about 50% due to the weather +considerations. + In Europe, we expect economic conditions to remain weak due to the softening consumer confidence and lower industrial activity +related to the significantly higher energy costs and geopolitical issues. In China, we anticipate weaker-than-normal economic activity +for the fourth quarter due to continued pandemic-related disruptions and slowing exports to Europe.";1;1 +GLOBAL SHIP LEASE, INC.;2018-07-30;"And that's, we've contended, likely to +cause an improvement in the charter market and in asset values. And the proof of the pudding is kind of in +the eating because that's exactly what we've seen in 2018 year-to-date, notwithstanding some geopolitical +uncertainty. + Angus Rosborough +You guys make the argument... +Ian J. Webber +Chief Executive Officer";1;1 +AMPLIFON S.P.A.;2022-07-28;"And finally, we also expect to continue to grow faster than the market. All in all, in external scenario that remains very +volatile and uncertain, assuming, of course, no further significant deterioration due to the well-known issues related to the +pandemic inflation and the current geopolitical situation, we can today confirm our guidance for the year. + Let me conclude by saying that, in any case, I firmly believe that Amplifon is today and more than ever best positioned +to turn any possible scenario again into an opportunity to strengthen faster, and harden our global leadership as we did +during the pandemic.";2;2 +VIASAT, INC.;2023-08-09;"Michael Louie D DiPalma +William Blair & Company L.L.C., Research Division +On the government defense side , there's been a lot of publicity regarding how the Ukraine war and geopolitical tension in Asia has +triggered a robust demand for Starlink as a backup or even a primary source of defense connectivity. Has the Ukraine war also led to a +surge in demand for Inmarsat's Ka-band services? +Mark D. Dankberg +Co-Founder, Chairman & CEO +I think unlike others, I don't think we're going to go into great depth about what we're doing in specific defense communications.";4;2 +FLUGHAFEN ZÃœRICH AG;2022-08-23;"But as +I have said in the guidance, we remain cautious on the outlook as being on the cautious and conservative side has been +proven as a good tactic for the last 2.5 years. So far into 2022, the recovery was better than expected, but there's still +some uncertainties around the development of COVID geopolitically that keeps us a little bit more on the conservative +side for the winter months. + Stefan Weber +Head of Financial Services +Then his second question is on India.";1;1 +FLUGHAFEN ZÃœRICH AG;2022-08-23;"So we are speaking of still sizable deviations to 2019 levels on the overall +passenger figures. So I believe the recovery will be stronger then recession or other geopolitical risks that are still in the +system just because the pandemic was such a big rupture. But of course, a recession could slow down the recovery, but +still in absolute figures, the recovery will continue next year.";1;1 +PILBARA MINERALS LIMITED;2022-04-28;"spglobal.com/marketintelligence +17 +a more sophisticated supply chain and do it with -- in relationships with people that are key to the future of the industry. + And we would definitely put POSCO in that category because of the combination of the skill inside their organization, the +scale and ultimately being a key entree to the Korean market, Korea being the next big mover beyond China in lithium +ion battery-making capacity and a strategic entree to especially North America because of the geopolitical interaction and +important relationship between the U.S. and South Korea. + Where do we do that elsewhere?";4;3 +CHEVRON CORPORATION;2017-07-28;"Neil Singhvi Mehta +Goldman Sachs Group Inc., Research Division +I appreciate the comments, Jay. The follow-up is just on some of the areas of disruptive production or +areas that -- where there's been a lot of focus on geopolitical issues. I just wanted your comments on 3 +areas in particular, recognizing there could be some limitations in terms of comments here.";4;4 +MÃœNCHENER RÃœCKVERSICHERUNGS-GESELLSCHAFT AKT...;2023-02-23;"We could afford to do so without +affecting our financial targets while, of course, increasing earnings resilience going forward. + Nobody, I think, could have known what geopolitical and macroeconomic turbulence 2022 would bring; the Russian war related +economic distortions, spiking inflation, the trend upwards in interest rates, heavily fluctuating capital markets. Consequence of all +this, our investment result came under pressure.";3;3 +CVD EQUIPMENT CORPORATION;2022-05-16;"Our SDC, Tantaline and MesoScribe product lines continue to show demand in orders in Q1 and the first 4 months of +2022, albeit not to the extent of the CVD Equipment Group. + The COVID pandemic and the geopolitical instability in Russia, Ukraine and Eastern Europe have caused issues in the +global supply chain. The negative impacts have been felt by all our companies with increases in commodity and product +materials cost as well as in delivery -- product delivery uncertainties and unpredictability.";3;3 +GHCL LIMITED;2022-05-02;"But all these capacity, any likely color of this capacity will be beyond 2 years down the +line. Secondly, must understand that on the other side, there's a huge demand of the solar glass across the globe and +particularly now because of this geopolitical system, geopolitical conflict, a lot of focus has also started asking about the +green energy and solar is one of them. + Second, you know that lithium battery also there's very huge requirement likely to happen in that area also.";3;1 +INPHI CORPORATION;2019-04-30;"Paul Jonas Silverstein +Cowen and Company, LLC, Research Division +I've been called worse. Guys, I apologize returning to the issue, but just I think it was clear from +your comments, but to sort of make sure there's no room for doubt, you all clearly are not seeing any +extraordinary inventory build by Huawei relative to the geopolitical situation. + Ford G. Tamer +President, CEO & Director +Paul, what we've said is we have seen inventory starting to build.";3;3 +GARTNER, INC.;2017-11-02;"Technology has also become a critical factor in every +function of the enterprise; supply chain, sales, marketing, HR, finance, legal and the rest. And if that's +not enough, the business environment continues to be mixed; exchange rates, commodity prices, global +macroeconomic growth and geopolitical dislocations. + Business leaders have never faced the rate of change they face today.";1;1 +FOOT LOCKER, INC.;2022-02-25;"So it depends on how long and how rampant the inflation gets. Again, clearly, with some of the +geopolitical things going on, there's a wait-and-see. Is -- what the impact to that, that will be to the broader global market.";1;1 +KIRKLAND'S, INC.;2022-05-31;"Like many of our +peers, our first quarter results were significantly impacted by lower customer demand and higher costs associated with +various supply chain constraints. Anyone who has been paying attention to the consumer commentary over the last few +weeks knows that the broader retail landscape is being notably affected by several concerning macroeconomic trends, +including rising interest rates, elevated levels of inflation, the ongoing geopolitical conflict between Russia and Ukraine +and increased supply chain costs stemming from higher freight costs and transportation rates. + Kirkland's is not immune to these issues.";1;1 +BRIDGESTONE CORPORATION;2022-05-11;"Raw material prices, natural rubber +prices movements were relatively calm. On the other hand, crude oil prices surged against the backdrop of geopolitical +risks. + Tire demands in the OE segment, demand declined in all regions due to the shortage of semiconductors.";1;3 +BRIDGESTONE CORPORATION;2022-05-11;"Let me try to respond with 3 perspectives or points in respect to the first one which we +just finished. First, as I explained earlier, we were able to meet demand through global sourcing despite the geopolitical +risks that were evident mainly in Europe. Global sourcing is one of the core competence of our group.";3;3 +GFH FINANCIAL GROUP BSC;2023-02-13;"My name is Surya Hariharan. + And today, I'm joined by our CEO, Hisham Al Rayes [indiscernible] 2022, successfully mitigated the impact of the geopolitical +crisis, rising inflation and market volatility by implementing the same robust model that saw the group through the pandemic times. + Following a strategy of long-term sustainable growth, GFH was able to consolidate a position by also expanding its global footprint, +placing the group in good stead.";3;1 +NETEASE, INC.;2018-05-17;"So overall, we remain very confident about both of our PC and mobile pipelines vis–à–vis +industry competition. [Foreign Language] +Lei Ding +Founder, CEO & Director +[Foreign Language] +Zhaoxuan Yang +Chief Financial Officer +For the E -- for the cross-border e-commerce, we see no impact from the recent geopolitical trade war on +the business. From a competitive landscape perspective, we are currently a leading player in the cross- +border e-commerce, and we are confident that we will maintain this leadership.";1;3 +METRO AG;2022-02-10;"Very important to keep in mind, Russia itself is quite cash generative and therefore is standing on its own feet. And +probably, the question is a bit pointing towards any sort of geopolitical situations. We are very well prepared not only from +a cash and cash movement perspective, but also from other points of view.";1;3 +PGT INNOVATIONS, INC.;2022-07-26;"Our strong Q2 results were driven by operational +improvement in the Southeast, including double-digit unit growth, improvements in scrap and improved labor efficiency. + Aluminum availability has improved and LME spot pricing has steadily decreased, in fact, resulting from speculation +surrounding the geopolitical tensions between Russia and Ukraine have been minimal, although we continue to monitor +market price as well as the primary and secondary market production condition. + Second quarter gross margin was 40.6%, 660 basis points higher than the prior year quarter and 310 basis points higher +than the first quarter of 2022, driven by price increases, manufacturing process improvements and unit growth.";1;1 +CEVA, INC.;2020-08-10;"India, which is currently the second largest handset market by volume experienced a 48% year-over- +year decline according to Canalys report due to supply and demand constraints as a result of the Indian government +measure to control the spread of the virus. + Let me take the next few minutes to walk you through our perspective on COVID-19 and the geopolitical tension between +U.S. and China. On COVID-19, recent market data from research firm GSMA Intelligence predicted that IoT net addition +for this year are expected to be down 45% on a yearly basis due to the pandemic.";1;3 +CEVA, INC.;2020-08-10;"Furthermore, COVID-19 brings forward +new usage model for 5G, including Fixed Wireless Access, 5G-enabled PCs and V2X. With our latest CEVA-XC DSP +portfolio and our PentaG 5G-modem platform, we are well equipped and positioned to address this new usage model for +incumbents and newcomers. + Onto the geopolitical tension between China and the U.S., the existing export control rules do not directly apply to our +current technology developed in Israel and Europe. We continuously monitor development on this front and are prepared +to adapt our business as required.";3;3 +V.F. CORPORATION;2020-10-16;"For those of you that have stayed close to the VF story, you are familiar with our now and next approach in navigating the +most challenging days of the pandemic while also preparing ourselves to emerge stronger within what we believe will be +a new normal environment. While the global pandemic continues and certain geopolitical uncertainties persist, I believe +we are officially entering the next. That isn't to say the challenges brought about by the global pandemic are behind us.";1;1 +DEXUS;2023-08-15;"And our current development pipeline is fully funded, providing +embedded future value by improving the quality of the portfolio while providing inventory to grow our third-party relationships. + So to conclude, we are halfway through a challenging period, which will continue into FY '24 as capital flows and market sentiment +are impacted by inflation, rising interest rates and geopolitical risks, which all contribute to prolonged economic uncertainty. Based on +current expectations and barring unforeseen circumstances, Dexus expects distributions of circa $0.48 per security for the 12 months +ended 30th of June 2024, below FY '23 with the reduction driven by lower trading profits.";1;1 +HMS NETWORKS AB;2023-07-14;"And also most of our customers, they are quite relaxed about the future. Of course, there's topics +about China and geopolitical things. But for most customers, things goes quite well, I would say.";4;4 +CANADIAN NATIONAL RAILWAY COMPANY;2019-10-22;"Finally, let me turn to our 2019 financial outlook on Page 14. While volumes in Q3 came in below our +expectation and while economic weakness create -- and geopolitical issues are creating headwinds, +unemployment levels are still at record lows and consumer spending so far remains resilient. + Manufacturing has softened significantly.";1;1 +NOKIA OYJ FY NINE MONTHS;2022-10-20;"So overall, the picture is improving, but we still believe it will not be before the first half of +2023 before there are no longer material constraints on any part of the business. + Finally, we fully recognize the ongoing macro and geopolitical uncertainty. If anything, those uncertainties have increased in recent +months.";1;1 +NOKIA OYJ FY NINE MONTHS;2022-10-20;"All Rights reserved. + spglobal.com/marketintelligence +16 +a little bit hard to see in today's geopolitical environment that -- how that could change in a big way. China -- Greater China region, +which, of course, includes Taiwan, in our case, I think it's around 6% or something like that of our total.";4;4 +RA MEDICAL SYSTEMS, INC.;2022-05-16;"You +should not place undue reliance on these forward-looking statements because they involve known and unknown risks, +uncertainties and other factors that are, in some cases, beyond the company's control and could materially affect actual +results. + In particular, there is significant uncertainty about the duration and contemplated impact of the COVID-19 pandemic and +the military action by Russia and Ukraine as well as the impact other global economic conditions, including any economic +effect stemming from adverse geopolitical events, an economic downturn and changes to inflation or interest rates may +have on Ra Medical's business and results of operations, including its supply chain. This means that results could change +at any time and the impact of any of these events on Ra Medical's operations, financial results and outlook is the best +estimate based on information for today's discussion.";1;3 +TERRAN ORBITAL CORPORATION;2023-03-21;"Our backlog includes over 60 satellites in various stages of completion, which we expect to deliver in the coming +quarters. + Over the last year, escalating geopolitical tensions and new space technology advances drove unprecedented and urgent demand for +low earth orbit satellite solutions beyond even our earlier expectations. Our team has moved decisively and strategically to expand and +vertically integrate our production facilities.";2;2 +BRIDGE INVESTMENT GROUP HOLDINGS INC.;2022-08-09;"And we coupled that with an +expanded senior secured revolving credit facility of $125 million, with the potential to increase to $225 million in certain +circumstances, giving Bridge enhanced liquidity and flexibility. + The market environment has become more turbulent recently, with markets impacted globally by concerns around +numerous macro issues including high inflation, aggressive Fed actions and continuing geopolitical risks. The impact of +these factors on various markets differs, although all markets, including those in which Bridge participates, have been +affected.";1;1 +AUDIOCODES LTD.;2023-11-02;"Additionally, we are gearing up towards a cloud-based multi-tenant software as a service application with full generative AI +integration, which is expected for GA early next year. Now to the geopolitical situation. Before I conclude, I'd like to briefly address +the impact of our operation from a war and recent developments in Israel.";1;1 +REVENIO GROUP OYJ;2023-02-09;"Then if going to the market conditions. So overall, +not too many red flags currently related to the overall iCare market but, of course, some uncertainties related to geopolitical situation +plus the cost inflation. But otherwise, if looking at the overall iCare market, so that seems to be steady.";1;1 +REVENIO GROUP OYJ;2023-02-09;"So let's go first through the logic, and then I answer the contribution question. So we did a bit more than half a year ago, half a year +ago, we did the decision that it would be really beneficial because the volatility in the geopolitical situation and then difficulties what +we had related to the regulatory approvals to actually have a team in China. So quite many are now pulling out from China.";3;3 +UNITED MICROELECTRONICS CORPORATION;2024-01-31;"However, customer maintains a +cautious approach in their inventory management. Moving forward, UMC will continue to navigate headwinds amid an increasing +competitive landscape and swelling geopolitical tensions via diversified manufacturing base and differentiation in 12-inch specialty +technologies. Our 12-nanometer FinFET collaboration is a step forward in advancing our strategy of pursuing cost-efficient capacity +expansion and technology node advancement in continuing our commitment to customers.";3;1 +JACOBS SOLUTIONS INC.;2023-08-08;"But those tailwinds aren't going anywhere and are probably less tied to inflation than other consumer-driven type of areas. And even +in the area that we have some exposure to the broader consumer, these are now in the world of life sciences and chips and broad-based +manufacturing that is tied to geopolitical as well as geoeconomic kind of reshaping of the world. So from a portfolio standpoint, we +feel strong.";2;1 +VERISK ANALYTICS, INC.;2022-05-04;"The development of our Touchstone platform and Extreme Event Solutions, the LightSpeed product suite and +underwriting and the development of our life business are tangible examples of what we have delivered to clients. + And in Energy, understanding the complex impacts of the energy transition and the geopolitical events continuing to +unfold in Ukraine, on the global energy economy, remain a primary customer focus through strong demand for improved +data delivery and analytics, and we continue to deliver on that demand for our customers through our Lens platform. In +fact, the first quarter was our fourth consecutive quarter of mid- to high single-digit ACV growth, helped by new multiyear +contracts, with material upsell for customers that are adopting Lens as they recognize the value of this new platform +delivers.";2;2 +ENTEGRIS, INC.;2019-10-24;"There were a couple of very customer-specific situations for our SCEM business +to be down sequentially in China. But overall, we feel pretty good about the level of activity and our +performance in China, given the industry context and the geopolitical context in 2019. + Krish Sankar +Cowen and Company, LLC, Research Division +Got it.";4;4 +II-VI INCORPORATED;2019-01-31;"Operator +And our next question comes from the line of Paul Silverstein of Cowen. + Paul Jonas Silverstein +Cowen and Company, LLC, Research Division +First off, and I apologize because I know you've been asked this question on more than one occasion +before including from myself, but can you review the geopolitical risk relative to China on both sides of the +equation, both in China and in the U.S.? And then I've got 1 or 2 more questions.";4;4 +ALPHA BANK A.E.;2016-03-03;"Although rates have been substantially [indiscernible] Greece European partners agreed on [indiscernible], +recovery prospects are at stake if rates suffer [indiscernible] of reforms and delays in the standardization +program materialize. + In addition, stable escalation for direct GPOs and geopolitical tensions has realized the persistence of +international [indiscernible] expected recovery. It is not clear yet what will be the impact of the tourism +arrivals on receipts, but I would like to [indiscernible] significant on the growth dynamics.";4;1 +TENCENT HOLDINGS LIMITED;2023-03-22;"And as just a quick follow-up. As we could see from the recent more scrutiny from other social network platforms elsewhere on the +geopolitical region, do we see any risk on our gaming business as we continue to thrive internationally? + James Gordon Mitchell +Chief Strategy Officer & Senior EVP";4;1 +TENCENT HOLDINGS LIMITED;2023-03-22;"And if we do that, we think we can continue to [ creep ] up our market share in this very big $150 billion plus +international game market. + On the geopolitical front, then, everything faces some degree of geopolitical risk. I think that the risks faced by the game industry +are dissimilar to the risks faced by social platforms that you alluded to, for a few reasons.";1;4 +TENCENT HOLDINGS LIMITED;2023-03-22;"People don't go into a video game if they want +to watch CNN. So while I wouldn't say that games are absent from geopolitical risk, I think the nature of concerns around games is +different from the nature of the concerns around media platforms or social platforms. + Wendy Huang +Investor Relations Officer +Next question comes from James [ Cartwell ] from [ Argentic ]. + +TENCENT HOLDINGS LIMITED FQ4 2022 EARNINGS CALL MAR 22, 2023";4;4 +HELICAL PLC;2023-05-23;"We also disposed of over GBP 230 million of properties that's almost 4% above book value, reducing gearing and increasing cash +and undrawn bank facilities. However, as Gerald has already stated, economic and geopolitical factors have affected bond yields, and +we've seen valuation declines across the portfolio, partly offset by gain at the JJ Mack building. These losses have turned what would +have been a profitable year into a net loss.";1;1 +KLAVENESS COMBINATION CARRIERS ASA;2022-05-11;"We are seeing that year-to-date, the demand increase measured as +deadweight miles have increased by 2.5%, a seasonally low quarter. But a lot of things have happened, which are more +macro and geopolitical events. Starting up at the top of this graph in blue, you see the effect of the ban on Indonesian coal +exports, and the scale is 7 million tonnes per month.";3;3 +CANADIAN NATIONAL RAILWAY COMPANY;2019-07-23;"Finally, let me turn to our 2019 financial outlook on page 12. While volumes in Q2 came in below our +expectations and while trade and geopolitical issues are creating significant volatility, unemployment levels +are still at record lows and consumer spending remains resilient. In the second half of the year, we're +counting on CN's specific revenue growth opportunities that continue to ramp-up such as the new Coalspur +thermal coal mine and the new propane terminal in Prince Rupert, both of which started shipping in Q2.";1;1 +STEELCASE INC.;2022-12-20;"In the Americas, we estimate +volume decline by approximately 30% year-over-year, partially offset by more than 10% growth due to pricing benefits. Compared to +earlier this year, demand patterns are being impacted by softening industry trends, which we believe are linked to reduced sentiment +related to macroeconomic and geopolitical concerns. In addition, many customers remain undecided on their strategies to support +hybrid work.";1;1 +MANPOWERGROUP INC.;2022-04-19;"Adjusted earnings per share increased 78% year-over-year in constant currency. + Although geopolitical uncertainty has increased, we continue to see strong hiring intentions in most of our major markets +in Europe as well as globally. In this environment, our clients need us more than ever to provide them with the strategic +and operational flexibility to transform and be successful and to find workers on various skill levels in very tight labor +markets.";2;2 +ARGENX SE;2022-03-03;"So we're not short +of upcoming catalysts. We announced in our press release this morning that the timing of the top line data from the +pemphigus trial is currently under review in light of the geopolitical situation in Ukraine. While exposure is limited, given +the global nature of the trial, we cannot reiterate our time lines until we have time to assess the situation more closely.";3;3 +ARGENX SE;2022-03-03;"So all of our trials, by definition, are global trials. These are all rare indications that are all spread over +the globe and that turns out to be a strength when things hit you like COVID pandemic or in this case a geopolitical issue. + So exposure is always going to be relatively limited, whatever study you're talking about.";1;1 +UNITED STATES STEEL CORPORATION;2022-01-28;"Clearly, a great place to be. We know about the risks, the Fed taking rates up too fast, unexpected +changes to import restrictions, geopolitical risk, existential risks. The risks are many but we've seen it all before.";1;1 +SAAB AB;2020-07-17;"It's +hard to predict how things will go, but I can't see any changes in the market place in terms of that countries will avoid +continuing with protecting their societies and protecting their countries. And the geopolitical situation is not going really +in the right direction. It's actually becoming a bit worse during the COVID-19.";1;1 +GEORG FISCHER AG;2022-03-02;"The positive development at GF Machining +Solutions in the fourth quarter of 2021 is expected to continue in the coming months. + The geopolitical tensions including the terrifying war in the Ukraine, the persisting COVID-19-related issues and supply +chain constraints reduced visibility even further. Assuming that these issues subside, the world and its leaders become +rational and diplomatic again, and no unforeseen circumstances arise, GF expect mid-single-digit volume growth in 2022, +and thus a further step towards achieving the targets of Strategy 2025 for sales and profits.";3;3 +BRIGADE ENTERPRISES LIMITED;2022-05-13;"This is notwithstanding the deadly second wave of COVID-19 in 2021 as +well as huge jump in construction costs over the last 3 to 4 months. + All raw material costs like steel, aluminum, copper, finishing materials, and fuel, among others, have been -- have seen +huge increases due to the global supply chain issues made worse by the geopolitical situation in Europe. As a result, the +total construction costs have increased almost up to 15% and are expected to rise or at least remain at elevated levels for +the next 12 to 18 months.";3;3 +ALLIANCEBERNSTEIN HOLDING L.P.;2016-02-11;"By now, you've all heard about the challenges the asset managers faced in 2015 and in particular the +second half, and we were no different. Looking at the firmwide overview on Slide 3, you can see the +impact that weak client activity, volatile markets and heightened economic and geopolitical uncertainty +had on our results for both the quarter and for the year. Gross sales declined 10% year-on-year for the +quarter and 2% for the full year.";1;1 +IOL CHEMICALS AND PHARMACEUTICALS LIMITED;2023-05-09;"Okay. Any headwinds which you like, the challenges which the company may face in the coming financial year? +Abhay Raj Singh +VP, Company Secretary & Compliance Officer +Sanjayji, we don't foresee any, but -- I mean, there can be the geopolitical situations we don't know and we can't comment on those -- +emergence of geopolitical situations. But with regards to the product we are, with regard to the market we are, we don't foresee any +specified headwinds.";1;1 +DAIMLER TRUCK HOLDING AG;2022-05-17;"Daimler Truck assumes that we will continue to face change supply chains for the key upstream products. The further +geopolitical as well as the COVID-19 pandemic development also harbor uncertainties. While the global market outlook +remains opaque, we are laser-focused on our strategy and self-held measures.";3;1 +BUFAB AB;2023-02-09;"Strong results in the quarter due to acquisitions and somewhat higher gross margin and also a lower share of expenses in the group. + Looking ahead then and the outlook, given the situation in the market, the geopolitical situation, the macroeconomic situation, there is +a lot of uncertainty ahead of us now for 2023, we have seen in the quarter there is a higher caution noted among customers in certain +segments. And we have, of course, continued to be preparing ourselves for more difficult times and lower demand in some segments.";3;1 +HINDALCO INDUSTRIES LIMITED;2019-11-11;"Global economic +growth around the world slowed down despite accommodative monetary and expansionary fiscal policies +in the developed and emerging markets. Uncertainties around Brexit, persistent trade tension, geopolitical +risks, especially in the Middle East and subdued manufacturing activities were the key drivers of the +economic slowdown. Q3 CY '19 data revealed that the U.S. economy continued to decelerate for the third +consecutive quarter.";1;1 +HINDALCO INDUSTRIES LIMITED;2019-11-11;"Marginal recovery is expected in 2020 with growth being projected +at around 3.4%. Prolonged trade wars, uncertainty around Brexit and geopolitical tensions are the key +risks to the growth. + Moving to the domestic economy in India.";1;1 +TELSTRA CORPORATION LIMITED;2022-08-10;"But when we get it wrong, we +own it and we fix it and we learn from the experience to do better next time. + Finally, the geopolitical environment is more fractious than most of us have seen in our lifetimes. Like all businesses, +we are seeing disruptions from this with the largest impact being on the supply chains of key network and technology +components.";3;3 +PRUDENTIAL PLC FH1 PRE RECORDED;2020-08-11;"Let's move to the financial highlights. These need to be seen in the context of extreme volatility in equities, foreign +exchange and bond markets, geopolitical uncertainty and the operational impact of COVID-19. Our performance highlights +the resilience of our business model, our scale and our ability to adapt and act with agility.";1;1 +FRASERS CENTREPOINT TRUST;2023-10-25;"So again, we are seeing very strong demand, our occupancy is 99.7%, and at the same time a pretty muted +supply that is coming to the market. + So if you look at what's happening around us today, there's a lot of negative noises, geopolitical issues, and this is something that, +like what I said, things that is not really our control. So you look at headwinds, there's uptick in oil prices because of all the wars +that's happening around the world.";1;1 +LOGITECH INTERNATIONAL S.A.;2023-05-02;"And the outlook for the first half of fiscal year '24 remains unchanged. + Most of the macroeconomic and geopolitical issues that impacted our fiscal year '23 results continue. Central banks are raising rates to +combat inflation, consumer confidence remains lower, and overall demand from enterprises remains tepid.";1;1 +BROADCOM INC.;2023-06-01;"So there's a deep abiding loyalty to all our key suppliers. Having said that, we also have to be very realistic of the geopolitical +environment we have today, and so we are also very open to looking at in certain specific technologies to broaden our supply base. + And we have taken steps to constantly look at it.";3;3 +PYXIS TANKERS INC.;2022-08-08;", please turn to Slide 6 for further update on the product tanker market. In addition to my prior comments about the +market, a recent economic activity for most of the world has been amplified by impact of the war and other geopolitical +events. The advent of increasing and severe sanctions against Russian exports of petroleum products have been met with +low inventories in many locations, especially Europe.";3;3 +COSTAIN GROUP PLC;2023-08-23;"Our pipeline of future opportunities remains strong across the +markets. We do remain mindful of the macroeconomic and geopolitical backdrop, recognizing the challenges it's created for inflation +and energy costs and its impact on the re-phasing and re-scoping of some major contracts, in particular, in transportation. With our +broad customer focus, further improvements to our operational performance, strong cash position and clear strategic priorities, we +remain confident of navigating these market headwinds and are well positioned for future growth.";3;1 +PCTEL, INC.;2019-08-08;"Although our customer base is mainly +in the U.S., China remains attractive for manufacturing our antenna products. We are in the process of +transitioning a substantial portion of our manufacturing activities in China to contract manufacturers in +order to increase flexibility and reduce geopolitical exposure. This transition is expected to be substantially +complete in late 2020 and result in an estimated 35% reduction in the company's entire workforce.";3;3 +PCTEL, INC.;2019-08-08;"First comment or question is around the small cell antennas and +what your business looks like there and maybe positioning? +David A. Neumann +CEO & Director +Yes. So small cell, I think everyone knows, our largest customers in China definitely have some challenges +with the geopolitical situation. We're still supporting that customer per the terms of the executive order.";3;3 +FIDELIS INSURANCE HOLDINGS LIMITED;2023-08-23;"We still see a supply-demand imbalance. We still see the secular issues that we've talked +about for the last 3 or 4 years, climate change, deterioration in casualty, cost and social inflation and geopolitical context as drivers of +the hard market. So we don't think anything has changed.";1;1 +CAMECO CORPORATION;2022-05-05;"I'll provide some details +on that a bit later. + What we didn't know when we made our decision to proceed with the next phase of our supply discipline was the pace +of change that would occur in our industry because of geopolitical events that are further amplifying security of supply +concerns. It's still early days, but we are seeing what we believe is an unprecedented geopolitical realignment occurring + +CAMECO CORPORATION FQ1 2022 EARNINGS CALL MAY 05, 2022 +Copyright © 2022 S&P Global Market Intelligence, a division of";3;3 +CAMECO CORPORATION;2022-05-05;"What we didn't know when we made our decision to proceed with the next phase of our supply discipline was the pace +of change that would occur in our industry because of geopolitical events that are further amplifying security of supply +concerns. It's still early days, but we are seeing what we believe is an unprecedented geopolitical realignment occurring + +CAMECO CORPORATION FQ1 2022 EARNINGS CALL MAY 05, 2022 +Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3 +CAMECO CORPORATION;2022-05-05;"For some time now, we've said that we believe the uranium market was as +vulnerable to a supply shock as it has ever been due to persistently low prices. Low prices that have led to planned supply +curtailments of existing productive capacity, development risk due to lack of investment in new productive capacity, the +end of reserve life for some mines, the deepening geopolitical and origin risk driven by the increasing concentration of +supply, and the trend towards regionalization to ensure the availability of critical minerals. And unlike in the past, we don't +have the same stock of secondary supplies to fill the gap.";3;3 +CAMECO CORPORATION;2022-05-05;"The next phase of our supply discipline, which +involves not only McArthur River/Key Lake, but starting in 2024, Cigar Lake is balanced with our contract portfolio and +where we think the market transition is currently at. + Even though we have seen considerable pricing pressure resulting from the geopolitical uncertainty, we will not change +our production plans. We will not front-run demand with supply.";3;3 +CAMECO CORPORATION;2022-05-05;"We will continue to balance +this activity with our spot market purchases. As such, we expect to continue to have the financial capacity to execute on +our strategy and self-manage risk, including from the global macroeconomic and geopolitical uncertainty we're seeing +today. Having been in this business for a long time, we have been through every market transition in our industry.";3;1 +CAMECO CORPORATION;2022-05-05;"Finally, after more than 10 years in a trough and through the deliberate and disciplined execution of our strategy; we're +seeing increased interest in contracting and not just in uranium, but across the fuel cycle. With geopolitics complicating +and potentially bottlenecking nuclear fuel supplies, we're seeing not just utilities, but some of the intermediaries and +service providers beginning to shift their attention to securing material for their uncovered requirements and to de-risk +some of their origin dependencies. The request for proposals, we are seeing are directed at those producers who have +proven and reliable productive capacity in the right jurisdictions and who have a track record of honoring commitments.";3;3 +CAMECO CORPORATION;2022-05-05;"And with substantial Canadian productive +capacity, our supply meets both energy security and increasingly stringent ESG requirements that are table stakes today. + And it can provide diversity from state-owned enterprises and help to de-risk utilities future supply from geopolitical risk +and trade policy exposure. + So what does all this mean for Cameco?";2;2 +CAMECO CORPORATION;2022-05-05;"Yes. We're talking about unprecedented geopolitical realignment. And what that's code for is just the Western markets +trying to exclude Russia.";3;3 +CAMECO CORPORATION;2022-05-05;"We're sitting in a market where the demand outlook is strengthening and is durable +and the supply outlook is uncertain. And that supply outlook is leveraged by challenges with the concentration of supply +with this geopolitical realignment with the inability of primary production to respond quickly or the inability of greenfield to + +CAMECO CORPORATION FQ1 2022 EARNINGS CALL MAY 05, 2022 +Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;1 +CAMECO CORPORATION;2022-05-05;"I think we're all a bit surprised that the company didn't add any more to the 40 million pounds that were +announced, I guess, in mid-February. And it sounds like your comments are more related to the fact that utilities are +focusing on the enrichment side first with respect to the recent developments on the geopolitical risk front. But I'm just +wondering, given your strength in bargaining power, is it also an issue where the bid-ask spread has changed in the sense +of you are now in a much stronger position, so you can be commanding much higher pricing than you could have a few +months ago?";3;3 +FORTIVE CORPORATION;2021-02-04;"And then I'm curious about your semiconductor business within Sensing. There's obviously a lot of [ cross-cuts ] still out +there, geopolitical, global semiconductor shortage. It looks like you're still seeing good growth there.";4;4 +YAPI VE KREDI BANKASI A.S.;2023-02-02;"Therefore, we are observing a better risk appetite against +emerging markets. Meanwhile, geopolitical conflicts are continuing. + Current TL interest rates in balance between funding and lending is putting pressure, whereas positive global macro may support some +normalization efforts needed for Turkish economy.";1;1 +TWILIO INC.;2022-05-04;"That obviously benefits Twilio as a variety +of companies look to invest in their engagement strategies going forward. + And we're not -- it's not like we don't see the macro environment, whether it's economic or geopolitical, but we just think +this business is extremely well positioned to capitalize on ongoing company's digital transformation efforts. And despite +impacts that we see that are inflationary, whether it be supply chain, which we talked about in the past, or labor inflation +more recently or interest rates, as you mentioned, we've built those impacts into our models.";2;2 +TWILIO INC.;2022-05-04;"And so +as that continues to happen over a long period of time, we feel like there's a lot of tailwind here for Twilio. + And I mean, of course, there are economic factors, geopolitics, supply chain, labor, et cetera, but all that stuff is largely +built into our models. And so our 30% plus growth confidence as well as being profitable next year has a lot of those +impacts baked in, and we obviously have a strong balance sheet as well.";2;1 +KGHM POLSKA MIEDZ S.A.;2022-03-24;"We can also be support for our neighbors and those who need support if we are stable ourselves. However, we cannot +forget the conditions under which we function, geopolitical situation across the world keeps changing. So what is our +recipe for success in such turbulent times?";4;4 +KGHM POLSKA MIEDZ S.A.;2022-03-24;"I do not see the name of the person asking. Whether the situation -- geopolitical situation related +to Russia's invasion in Ukraine and the system of sanctions influence operations of KGHM Group in 2 aspects? The + +KGHM POLSKA MIEDZ S.A. FY 2021 EARNINGS CALL MAR 24, 2022 +Copyright © 2022 S&P Global Market Intelligence, a division of";3;3 +KGHM POLSKA MIEDZ S.A.;2022-03-24;"All Rights reserved. + spglobal.com/marketintelligence +14 +question is about the impact of the current geopolitical situation on operations also outside the mainstream technologies +that is supporting services. + Marcin Chludzinski +President, CEO & President of the Management Board +I will try to answer this question.";4;4 +MITSUI & CO., LTD.;2017-11-06;"Based on our first half performance, we are upwardly revising our full year forecasts, raising our profit +forecast by JPY 80 billion to JPY 400 billion and forecast core operating cash flow by JPY 100 billion to JPY +600 billion. + Although we need to pay close and ongoing attention to geopolitical risks, we believe that the global +economy is likely to continue showing a gradual overall recovery. While monitoring commodity markets, +currency movements and other key elements of our business environment, we will do our utmost to +achieve the forecast numbers.";1;1 +TRAVELZOO;2022-03-03;"Michael A. Kupinski +NOBLE Capital Markets, Inc., Research Division +And Holger, can you tell me a little bit about Europe versus North America as you go into the first quarter? Because of the +geopolitical issues going on in Europe, are you seeing Europe not rebound as much as North America at this point? Or +can you kind of give us a flavor of the rebound that you're seeing by North America versus Europe? +Holger Bartel +Global Chief Executive Officer";1;3 +TRAVELZOO;2022-03-03;"Given that prior to the pandemic, you guys acquired Jack’s Flight Club +and throughout the pandemic, you shifted the revenue mix towards vouchers to preserve cash flow. So given the fact +that the core business has been so disrupted by COVID-19 and now the potential for new geopolitical tension that may +impact travel in Europe. I'm just trying to get a sense as to how you're thinking about any additional levers there might be +available to you to continue to be proactive and less reliant on normalizing conditions from -- prior to the pandemic.";3;3 +PPG INDUSTRIES, INC.;2019-10-17;"So heading into 2020, we do think there could be some inventory upside. It's too early to make a +call in the economy and the other geopolitical issues. But a couple of our key industries, we know, auto, +we feel a little bit better about auto next year, specifically in Asia, the biggest market.";1;1 +PPG INDUSTRIES, INC.;2019-10-17;"They've moved to more of a +saving economy. I think they're feeling -- they're apprehensive about the geopolitical environment. And +our expectation, our hope is that gets somewhat resolved or some of that breaks free because they've +moved to more of a consumption model and they've saved for, I'd say, well over of 9 months to a year +now.";1;1 +V.F. CORPORATION;2018-10-19;"Our focus in investment in support of 2021 +strategy is driving accelerated growth and value creation across key pillars of our portfolio. + Over the past few months, geopolitical and macroeconomic events have caused increased volatility in the +marketplace. I'd like to take a moment and address how a few of these events are shaping how we think +about our business and our consumers.";3;3 +V.F. CORPORATION;2018-10-19;"Regarding the consumer, above-average GDP growth, low unemployment and multiyear highs in consumer +sentiment are driving strong results in the U.S. market. In China, consumer spending in footwear +and apparel remains solid, thus far unfazed by geopolitical rhetoric. And while the performance of our +European business has been slightly more volatile the past few months due in part to unusual weather +patterns across the continent, we have not seen a meaningful change in the trajectory of our business.";1;1 +MAXAR TECHNOLOGIES INC.;2019-05-09;"The U.S. government is spending more +in the areas we serve, mainly space capabilities and earth intelligence. We expect that trend to continue +given the increasingly complex geopolitical environment and pace of innovation. Our international +government customers now, as around the world, are experiencing a similar phenomenon.";2;2 +ARITZIA INC.;2023-01-11;"Please note that remarks on this +call may include our expectations, future plans and intentions that may constitute forward-looking information. Such forward-looking +information is based on estimates and assumptions made by management regarding, among other things, general economic and +geopolitical conditions, the competitive environment and further COVID-19 resurgences. + Actual results may differ materially from the conclusions, forecasts or projections expressed by the forward-looking information.";1;1 +ENTERGY CORPORATION;2022-11-02;"As we laid out at Analyst Day, our industrial customers +have many inherent advantages that make them low-cost producers on the global stage. This is enhanced by recent supply chain and +geopolitical conditions. Commodity spreads important to our customers remain positive and continue to support the outlooks we laid +out at Analyst Day.";2;2 +ENTERGY CORPORATION;2022-11-02;"And as we discussed at Analyst Day, this next wave of our industrial growth is being accelerated due +to onshoring trends. These trends are caused by broken supply chain globally, manufacturers needing reduced geopolitical investment +risk as well as global customers who need energy security. + The results for EWC are summarized on Slide 7.";3;3 +MURPHY USA INC.;2019-01-31;"With February and March, the next two months of the quarter due, I don't +have a crystal ball on what Q2, Q3, Q4 do. This is why we're kind of out the fuel margin guidance business +because there's just so many factors between the geopolitical, supply-demand of crude, IMO 2020 and +the demand for low sulfur crudes, et cetera. We know it's going to remain volatile.";1;1 +NORDEA BANK AB;2016-01-27;"We have operated in an environment with very +low -- actually, no interest rates -- low interest rates, very low growth environment. We have had the +geopolitical turmoil, and we've also had a fair degree of market turmoil. So challenging environment.";1;1 +PERKINELMER, INC.;2022-05-03;"But the +outlook looks strong, and I think we are poised to at least deliver the 6% to 8%, but I thought it was a little too soon this +early in the year to raise the overall organic growth guidance. + As you know, there's a lot of geopolitical and macroeconomic pressures out there. You mentioned China as an example.";1;1 +BANCO DE CHILE;2023-02-03;"All these forecasts are subject to risk. In addition to global uncertainties where Chinese dynamism is a key driver for Chile and +geopolitical conflicts in Eastern Europe could produce some noises in international prices, we have to pay attention to the evolution of +some local factors as well, especially those related to political and institutional aspects. Some of them include the evolution of some +reforms that are currently under discussion in Chile, such as the tax and pension bills as well as the ongoing constitutional process.";1;1 +CORPORACIÓN INMOBILIARIA VESTA, S.A.B. DE C.V.;2021-07-22;"The current Secretary of Economy, Tatiana Clouthier, is currently +actually in Washington, talking about this particular situation in order to get to better agreements. And we see this as +a favored sector now not only because of Biden, but also because of the disruption in the pandemic and geopolitical +challenges. + Zoe Tan +Right.";4;4 +KALEYRA, INC.;2022-11-07;"Maur's effort, especially towards developing relationships with Tier 1 providers +and with large enterprise customers, has been exceptionally helpful in our mission to expand Kaleyra's Wichan partner growth. Across +our business, we were able to achieve this result despite persistent headwinds faced during the quarter; Global economic uncertainties +driven by overlapping geopolitical and macroeconomic factors, including a slowing global economy, the recent market volatility, and +uncommonly high inflation. + However, 2 main factors stand out to us.";1;1 +NANYA TECHNOLOGY CORPORATION;2023-07-10;"All suppliers have adjusted capacity +and CapEx and improvement on supply-demand balance is expected in fourth quarter this year, which is subject to the strength in +DDR4 destocking and DDR5 transition as well as overall demand recovery. + The lingering impact by geopolitical conflicts, including European war, including trade restrictions between U.S. and China may +continue. From the supply side, the DRAM supplier continue to adjust capacity and product mix, overall supply decrease yearly +is expected in 2023.";3;3 +NANYA TECHNOLOGY CORPORATION;2023-07-10;"Still the market is quite dynamic. And not to +mention that lingering impact may continue by the geopolitical issues around the world. + Operator +Next one, ask questions is Simon Woo from Bank of America.";1;1 +NANYA TECHNOLOGY CORPORATION;2023-07-10;"I +did not specifically mention in that because there are still quite a bit of market uncertainty out there we have to continue to observe, +okay? That's including inventory digestion, including DDR5 transition and also include global economic recovery and also include the +negative impact by geopolitical issues, are they going to be lingering? And how much worse is it lingering?";1;1 +PRECISE BIOMETRICS AB;2022-08-12;"I also have one question. How do you see the geopolitical tensions that are in Taiwan? And is there a risk that it will +be able to affect your business?";4;4 +SCOR SE;2022-05-06;"Q1 2022 was marked by a combination of exceptional +events. The sustained level of natural catastrophes for the past 5 years has compounded with the ongoing pandemic first, +and more recently, with geopolitical and macroeconomic tensions on a scale not seen for many years. This translates into +another difficult quarter and impacts the way we run our business and our transformation.";3;3 +AROUNDTOWN SA;2022-08-25;"Going forward, we remain cautious and assume that it will be challenging to realize rent increases. Given the macro and +geopolitical environment, we expect to face over the next periods. + As the impact of the sharp increase in inflation has become a main topic in all our daily decisions, Slide 9 provides you the +operational growth potential we have as a defense against operational cost inflation.";1;1 +AROUNDTOWN SA;2022-08-25;"So there are no changes to our full year guidance, and we +continue to be well on track to achieving them. + Finally, on Slide 27, we want to highlight 3 key strategic efforts that we aim for as we navigate through the current +macro and geopolitical challenges. Firstly, we continue to extract the embedded value in our portfolio through our highly +experienced operational teams and management.";1;1 +CARYSIL LIMITED;2023-11-08;"Demand +for luxury and premium goods have been propelled by shifting consumer preferences, accelerating urbanization and emerging new +lifestyle products. Despite the unstable geopolitical circumstances, we continue to witness an improved inflow of new orders and +potential prospects that we expect to tap in the near future. + Similarly, the cost of raw materials have been stable, and we anticipate this trend should continue.";1;1 +CARYSIL LIMITED;2023-11-08;"So it's nothing that what you and we can do. But there are -- this geopolitical situation is, +the cloud is on our head at this point of time. So we don't know.";4;4 +CARYSIL LIMITED;2023-11-08;"There's a lot of uncertainty around +the world. So those are the geopolitical risks. + Second is, I think, on the other side, the inflation is very high.";1;1 +CARYSIL LIMITED;2023-11-08;"So not a single market is right now on a decline. It may happen because of geopolitical situation, like Israel and Jordan and +some of the Gulf countries. But across -- I think there's a demand and the demand is only increasing.";1;1 +S H KELKAR AND COMPANY LIMITED;2023-02-03;"It's sort +of a backward integration venture. Apart from the Chinese geranium, there is products like vetiver oil, which is coming from Haiti, +and that has very uncertain supply due to political as well as geopolitical as well as climatic and earthquake situation. So these kind of +products where globally the supply chain for our industry is affected, we are cultivating in India and building our own strong supply +chain.";3;3 +I-MAB;2023-03-31;"I want to take this opportunity to discuss our key business +updates and major progress in core asset development for the year ended December 31, 2022. Since the start of 2022, the company +faced multiple challenges, including but not limited to geopolitical issues such as ADR delisting risk, macroeconomic factors, +including interest rate hikes, and 2019 pandemic. + In response to these challenges, the company made several strategic efforts to reposition the overall business and prioritize its pipeline.";3;1 +ENBRIDGE INC.;2022-11-04;"And just as a follow-up, maybe continuing on the risk discussion. When you're allocating capital, how do you account for +geographic risk, specifically geopolitical risk? I think the perception is it's going up in certain parts of the world and supply chain as +well.";3;3 +ACERINOX, S.A.;2022-07-28;"Conclusions are very simple. We've got exceptional second quarter results, exceptional +first part of the year with results, and of course, that we are proud of the results as we manage the complex geopolitical +scenario. + What can we expect for the second half of the year.";1;1 +ACERINOX, S.A.;2022-07-28;"And this is what I'd like to explain to you. With all these new tensions, geopolitical +tensions before COVID and before these things, we have started to see this kind of a polarization in the geopolitical +situation. Now remember, Section 232, safeguard measures in Europe and these types of things and governments in the +United States and in Europe started fighting against unfair trade practices.";3;3 +ACERINOX, S.A.;2022-07-28;"What does it mean? With the disruptions in the supply chain, the geopolitical problems, the cost of transport, the trade +defense measures and all these things, most of the purchasing managers in Europe and the United States will try to +diversify the suppliers and also to bring or to give a higher weight to the local or regional suppliers. That means that will +be -- that will increase local purchases in Europe and in the United States.";3;3 +ACERINOX, S.A.;2022-07-28;"Now we are suffering the problems of supplies +from Russia from Ukraine, but people can think in United States or even in Europe that we can have the same problem +in China. And also it is the new geopolitical situation. I think that it teaches us that it's just common sense that we need to +have closer suppliers, and that will happen in Europe.";3;3 +LANXESS AKTIENGESELLSCHAFT;2021-05-12;"But of course, uncertainties are out there. We are living in volatile times, +geopolitical uncertainties are also visible and therefore, we should all be humble, but nevertheless, optimistic. + This is how we look at LANXESS.";1;1 +FAMOUS BRANDS LIMITED;2023-05-22;"In terms of the operating context, it's really quite difficult to talk through everything, but there's 3 particular points that I'd like to just +talk through in terms of our particular context. And really summarizing where we are in terms of the geopolitical and socioeconomic +side of things, we've obviously had negative impact from all of those and high inflation affects the restaurant industry and consumers. + There's no denying that.";1;1 +BAIN CAPITAL SPECIALTY FINANCE, INC.;2022-02-24;"This represents a total +position size of up to 11% based on the size of the investment portfolio at year-end. It is also important to note that the +presence of our team on the ground in these geographies, coupled with our focus on private equity-sponsored companies +and senior positioning in the capital structure allows us to invest prudently even in periods of geopolitical turmoil such as +today. + Our new origination activity, combined with the growth of our ISLP investment, contributed to an improvement in our +portfolio asset yields, both quarter-over-quarter and year-over-year.";1;1 +ELLIPTIC LABORATORIES ASA;2023-05-25;"And one of the reasons that we initially went public +was that when we saw we should capture this large market, that you needed to have a strong balance sheet to go after this market +because you don't know exactly how long the sales cycle will be. And then, of course, we had war and other geopolitical concerns that +had been throwing... +Lars Holmoy +CFO & Investor Relations +COVID. + Laila B. Danielsen +CEO & President +COVID throwing at us.";4;3 +KARORA RESOURCES INC.;2022-03-14;"Oliver Turner +Executive Vice President of Corporate Development +Thanks, Graeme, and hello, everyone. Over the past several months, we've seen a material shift in current market +conditions that have led to a strong performance across the gold sector, even if for somewhat uncomfortable geopolitical +reasons. In addition to our usual investor road show, marketing and retail investor summits, we've seen an increased +generalist investor interest in the gold sector.";2;1 +H & M HENNES & MAURITZ AB;2024-01-31;"As you can see in today's report, we are gradually taking +steps in the right direction and towards our long-term goals. The last few years have been very intense with the pandemic, several +geopolitical and macroeconomic challenges. It has at times been very demanding for me personally, and I now feel that it is time +to leave the CEO role to slow down a little bit and reflect.";1;1 +H & M HENNES & MAURITZ AB;2024-01-31;"The long-term target, I can just say a few words and then you get some +reflections from Daniel. As you know, since the past few years have been locked around navigating through a pandemic and then +many geopolitical and macroeconomic challenges, we've been focusing mostly on profitability, having a good, robust financial +position and a good cash flow, so we can keep on investing in our business and stay flexible and of course, always focused on our +customers. + We see that we now have a more robust foundation to stand on for future profitable and sustainable growth.";1;1 +ORDINA N.V.;2022-02-17;"And as this phenomenon will increase, we are facing the risk our tariff increase will be unable to +follow salary increases. Many of our clients are impacted by supply chain shortages and may be impacted by geopolitical +uncertainties or energy market disturbances. On the other hand, we see an important digitization agenda at almost all our +clients in all sectors.";1;1 +ORDINA N.V.;2022-02-17;"Think of wage pressures. Think of geopolitical uncertainties. And on +the other hand and as what I explained as well, we will increase our investment in market solutions because that will drive +the shift of -- help drive the shift to 75% of our revenue.";3;3 +MICRON TECHNOLOGY, INC.;2020-06-29;"And from what we can see, customer inventories with respect +to cloud are in a healthy place. And of course, there are other parts of the market such as mobile phone, where there are +other considerations such as geopolitical considerations as well as related to COVID as well, where customers may have +built up some additional inventory. + And in mobile, in particular, you saw in China that how in April, post-COVID within China, the demand went up, surged +up for smartphones.";3;3 +MICRON TECHNOLOGY, INC.;2020-06-29;"So overall, it's a mixed picture with respect to the inventory on the customer front, cloud inventories are +in decent shape. Mobile, I would say, is somewhat in anticipation of demand as well as managing to the supply chain +consolidations due to COVID and some geopolitical considerations as well. + So overall, I would say, when we look at fiscal first quarter, the environment is similar to what we had experienced in FQ3, +FQ4.";3;3 +HOME24 SE;2022-05-11;"We have obviously reviewed scenarios and looked at +the current market trends also over the last 5 weeks. + We believe we've built in significant headroom in a way that external factors like, at the moment, inflation, geopolitical +tension, supply chain and consumer climate, should not prevent us reaching these, especially where, as of April, the +Butlers financials will add to profitability. + Nevertheless, strict working capital management will definitely be a theme throughout 2022 and remains a high focus for +us.";1;1 +ENDEAVOUR MINING CORPORATION;2018-11-07;"For the Kalana project, we have been quite +active especially the reading of 48,000 meters in the first semester. As you may know, it's a high-grade, +quite complex deposit, and we have been achieving a significant amount of reading to prove and to +confirm and to refine the geopolitical model, which is quite okay right now. Unfortunately, we have been +fast-pacing some quite important delay in the lab analysis due to the rich ore analysis we are conducting +on all the samples due to the high-grade characteristics of the ore.";4;4 +CLARIANT AG;2022-05-19;"We expect the high inflationary environment +with regard to raw material, energy and logistics cost as well as supply chain challenges to persist into the second half of +2022. + The current high level of uncertainty as a result of the [ geopolitical conflicts ], suspension of business in Russia and the +resurgence of COVID-19 in China is expected to continue to impact global economic growth and consumer demand in the +second half of the year. We are progressing well with our growth investments.";1;1 +CLARIANT AG;2022-05-19;"I would say this is +even a sort of a broader sort of trends right now, which is very positive for Clariant, the increased focus on sustainability. + But I would also say, considering the recent geopolitical developments, the increased focus on energy transition. That is +actually a very favorable trend for the Clariant portfolio.";2;2 +CLARIANT AG;2022-05-19;"As far as licensees, we see, yes, an increased interest for renewables. As I mentioned before, the whole energy transition +is clearly becoming a larger priority not just to fight climate change, but also for geopolitical reasons to become less +dependent on fossil fuel, particularly in Europe, the gas from Russia. So we are seeing an increased interest and we do +actually anticipate in the second half to make some further comments on new licensees.";3;2 +ASTER DM HEALTHCARE LIMITED;2020-02-12;"There have been even situations where the oil price has gone to $30. And there has +been a lot of things where people who are predicting issues, local issues, geopolitical issues. I'm not +saying that it is a place where nothing will happen.";4;4 +PILBARA MINERALS LIMITED;2022-01-31;"We've heard many +analysts over the years that the lithium markets will be oversupplied. There's plenty of lithium in the world, but there's not +plenty of lithium in the world that fits the right combination of location, quality of supply, accessibility to infrastructure, in +the right jurisdictions that don't otherwise suffer from geopolitical challenges. Yes, I mean, it's a complex world of industrial +mineral supply chain that doesn't want to be complex but naturally is.";3;3 +DEUTSCHE BANK AKTIENGESELLSCHAFT;2022-01-27;"As we guided earlier, credit loss provision will be around 20 basis points in 2022. Our credit portfolio quality remains +strong, and we are well positioned to manage emerging risks, including geopolitical uncertainties, supply chain disruptions +and expected policy tightening. As noted, we expect to maintain a CET1 ratio of around 13% and in any case, above +12.5%, consistent with our target.";3;1 +SACYR, S.A.;2022-05-04;"Although for us, it continues to be very relevant and important, the fact that we have recurrent profitable +growth. All the more so in a situation of geopolitical and macroeconomic uncertainty, such as the one that currently exists. + The results for the first quarter of this year continue to show the robustness of our business model.";1;1 +AIRBOSS OF AMERICA CORP.;2018-11-08;"Lisa R. Swartzman +President +No, to be honest, I put it out there always as a bit of a caveat. Because the geopolitical situation and +government budgets on our multiyear contracts, we'd still require that a budget to be in place. We have +no real expectation, or we don't anticipate anything being different than anything that we've either +announced recently or that our maximum awards are.";4;3 +AMYRIS, INC.;2022-03-01;"However, the path forward for +Amyris has never been clearer. Despite a number of factors in the macro environment, including inflation and geopolitical +instability, we expect to have another exceptional year as it relates to growth. As more of our brands achieve critical mass, +we expect consumer revenue to increase by at least 150% from 2021 base of $92 million.";1;1 +SUNNY OPTICAL TECHNOLOGY;2023-08-23;"Our new production base, we started in 2022 as the first company working on vehicle lens +sets due to the tariff problems from the U.S. Well, due to the global geopolitical situation. When we set up overseas institutions, we +are faced with greater challenges.";3;3 +MICRON TECHNOLOGY, INC.;2021-09-28;"And +this tends to be a seasonally strong quarter for new smartphone shipments as well. And while some customers made +-- because of geopolitical considerations or through the lessons learned during the pandemic or their own supply +chain considerations or supply chain shortages, maybe having a strategy of carrying more inventory than some other +customers, overall, the smartphone market continues to be driven by 5G transformation -- transition. Smartphones over +the course of calendar year '22 with 5G increasing by 50% from the 2021 levels.";3;3 +MICRON TECHNOLOGY, INC.;2021-09-28;"So inventory in our markets today is in much better shape than it was back in the 2018 time frame. Again, some +customers may have higher levels due to their strategic considerations, and they may choose to continue to do so in the +longer term as well given the challenges faced by the supply chains during the pandemic as well as given geopolitical +considerations. So this is what I would like to share with you on inventory.";3;3 +MCEWEN MINING INC.;2021-11-04;"And the price paid per copper equivalent pound ranged from $0.02 to $0.034 per copper equivalent pound. + Due to the current remote nature of losses, the liquidity of our private placement, some geopolitical concerns. And being +at its preliminary economic assessment stage, Los Azules for the purpose of our financing is valued at $175 million, which +is equal to $0.065 per copper equivalent pound.";4;4 +CIPLA LIMITED;2021-10-26;"We are pleased to see the robust vaccination rates in the country and are happy to report that 89% of +our colleagues across our operating geographies have taken at least 1 dose and 59% have been fully vaccinated. + Coming to the strategic updates and operational performance, I'm pleased to see continued delivery reflected in the +robust performance for the quarter driven by our branded markets of India and South Africa supported by the unlocking +of our respiratory franchise in the U.S. and traction in emerging markets despite geopolitical headwinds. Our EBITDA +margins for the quarter came in at 22.2% and continue to reflect our commitment to maintain the trajectory in FY '22 +despite significant moderation in the contribution of COVID versus the previous year.";1;1 +JOHNSON MATTHEY PLC;2018-05-31;"And we can source metal from a +variety of sources, and refined pgm is a part of our supply for John's business, for example. And of course, +that gives some real assurance about being able to supply irrespective of what might happen in whatever +economic environment or world geopolitical environment that's happening. And so that's very -- and that's +why we're the world's largest refinery of secondary pgms.";3;3 +23ANDME HOLDING CO.;2023-11-08;"Now turning to our guidance. As a reminder, the company's full year 2024 guidance is based on a conservative approach, recognizing +current uncertainties in consumer sentiment, the macroeconomic environment and geopolitical conditions. Our focus within the +existing lines of the PGS and telehealth consumer businesses remains unchanged.";1;1 +QUICKLOGIC CORPORATION;2022-05-17;"The revenue cadence will still be +weighted more to the second half of 2022. At this time, I believe that the pathway for profitability this year is clear, barring +any severe changes in the macroeconomic or geopolitical environment. As good as the improvement has been over the +last year, I believe the next 12 months will be even better.";1;1 +IHEARTMEDIA, INC.;2023-11-09;"Throughout the year, we've seen gradual improvements in the +advertising marketplace, which is reflected in the quarter-by-quarter sequential improvements in our advertising revenues. And despite +the recent global geopolitical events, we expect that to continue through Q4. + Now let me take you through some of the key financial results of the quarter.";1;1 +IHEARTMEDIA, INC.;2023-11-09;"As we talked about on previous calls, we expected Q4 to be the strongest quarter of the year for the company. Although it is still on +track for that, it will be weaker than we originally anticipated due to some dampening of advertising demand, which coincided with +the uncertainty caused by the recent geopolitical events. Having said that, in some years, we do see significant last-minute advertising +spend come in late November and December.";1;1 +IHEARTMEDIA, INC.;2023-11-09;"Turning now to our outlook for Q4. As Bob mentioned before, as some other companies have discussed on their earnings calls, we are +experiencing some additional uncertainty due to the recent geopolitical events, and that is captured in our Q4 revenue outlook. + So with that in mind, we expect our Q4 2023 revenues to be down high single digits.";1;1 +IHEARTMEDIA, INC.;2023-11-09;"Are you starting to see some green shoots or +inflections? It sounds like some of the geopolitical stuff maybe it could be a little bit of a near-term headwind. So just help us think +about what's driving that confidence in the improvement in 2024.";1;1 +CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"John will provide more details shortly. + While there's an ongoing global economic and geopolitical uncertainty, we remain confident about the +multiple long-term trends that continue to drive strong design activity. Driven by trends such as artificial +intelligence, or AI, 5G, autonomous driving and IoT, design activity is being fueled by workload-specific +computing, system companies building custom silicone, new silicone startups and digital transformation of +industries such as automotive, aerospace, medical and other industrial applications.";1;1 +CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"Spectre X was endorsed by MediaTek, Mellanox, Renesas and Silicon Works. + Now let me make a few comments on the geopolitical situation. We have, and we will continue, to comply +with the United States Department of Commerce export control regulations.";3;4 +CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"Operator +Your next question comes from Rich Valera from Needham & Company. + Richard Frank Valera +Needham & Company, LLC, Research Division +Lip-Bu, you referenced geopolitical tension in your prepared remarks, which I think most would agree has +increased probably over the last quarter or so. And notwithstanding the fact that your business remains +obviously very healthy, have you seen any change in any customer buying patterns or demand due to this +increased tension, or any perhaps unexpected customer attrition? +Lip-Bu Tan +CEO & Director +Yes, so far we don't see that.";1;1 +BB&T CORPORATION;2019-04-18;"spglobal.com/marketintelligence +12 +And Betsy, remember that it's a multifaceted set of variables that we have to consider and the Board has +to consider. The progress with regard to the merger, the combinations in terms of systems, et cetera, but +we also have to pay attention to what's going on in the economy and in global geopolitical issues and all of +that. And so for all of those reasons, we are being admittedly conservative when we say 10%.";3;3 +GARMIN LTD.;2018-10-31;"So maybe if you could just add a little color on why you're seeing the better operating +margin despite it looks like mix is going to be fairly similar. And then as a follow-on question, Cliff, I just +would be curious on your thoughts on the geopolitical situation in terms of its impact on your business. + Are you seeing anything changing in terms of consumer behavior in Asia?";3;3 +GARMIN LTD.;2018-10-31;"With the +product mix and the overall trends we're seeing, we felt confident to upgrade our operating income +estimate as well. In terms of geopolitical issues, right now we don't really see anything that's moving the +needle in terms of concerns. The Asia demand still appears to be very strong.";1;1 +BANCOLOMBIA S.A.;2022-11-16;"So we clearly expect to be above the cost of equity in the years to come. It's important to highlight the cost of equity at this moment is +pretty high due to the macro environment and the geopolitical situation in general and higher interest rates. When that normalized, we +will also probably normalize the net interest margin, and that will allow us to deliver an ROE above the cost of risk and risk.";1;1 +FERREXPO PLC;2019-08-02;"And you see really we can apply $500 +million or $750 million to accelerate the process and it's very much attractive, but it's a consideration for +the shareholders and the Board. So either we are ready to take this risk and effectively, this is geopolitical +risk. We do not see any kind of production risk.";3;3 +CONTINENTAL AKTIENGESELLSCHAFT;2022-08-09;"Our expectations are based on currently +foreseeable effects. In the event, that the geopolitical situation, in particular in Eastern Europe remains tense or even +worsens. It could result in further lasting consequences for production, supply chain and demand.";3;3 +ENSIGN ENERGY SERVICES INC.;2019-03-08;"Edge Controls, as you recall, is our wellside technology platform, which attracts a $900 a +day surcharge when installed. + Most importantly, the transition further derisks Ensign geopolitically. We now operate 50 rigs +internationally in 9 countries outside of the U.S. and Canada.";3;4 +ENSIGN ENERGY SERVICES INC.;2019-03-08;"Canada, as you +know, has had one of the toughest winters in a long time. I'm sure it's not lost on anyone the reasons why +not only the fourth quarter, but the obvious geopolitical challenge with pipeline issues and the -- and now +the delay in the Line 3 Enbridge. With the Trinidad acquisition, Ensign shores up its fleet in the deeper +capacity spectrum; currently running 37 rigs today, with one of the largest pad type fleets.";3;3 +INFICON HOLDING AG;2022-04-22;"Mr. Winkler had already gone into the details and the assessment of our end +markets. Due to the current geopolitical situation, the ability to forecast is generally somewhat limited. Nevertheless, +based on our order book, order intake and the overall business situation in our end markets, we are quite positive for the +start of the year.";1;1 +BENTLEY SYSTEMS, INCORPORATED;2022-05-10;"spglobal.com/marketintelligence +5 +After so long during which EPCs bogged down with industrial CapEx stagnation have significantly stifled overall E365 +ARR growth, during '22 Q1, they finally resumed some new business, although still at a slower rate than the mainstream +of E365 accounts. Such continued EPC invigoration throughout 2022 would contribute an upward inflection from +2021's growth serving to offset the detrimental aspects of this year's geopolitical upheavals, which are actually creating +opportunities for EPCs. + Turning from enterprise to SMB, which, as we showed last quarter, was more significant than ever in 2021's new +business, Virtuosity continued its rapid growth seasonally adjusted.";2;2 +BENTLEY SYSTEMS, INCORPORATED;2022-05-10;"And what's your kind of outlook there? And to what extent and what kind of time line do you expect your new +JV to sort of counter those kind of geopolitical headwinds? + Gregory S. Bentley +CEO, President & Chairman of the Board";1;1 +DONALDSON COMPANY, INC.;2019-12-03;"All Rights reserved. + spglobal.com/marketintelligence +5 +For ag and mining, the recoveries are muted as manufacturers navigate geopolitical and trade-related +uncertainties. As our first-fit markets predictably cycle, we remain focused on winning new programs with +innovative technology.";1;1 +WACKER CHEMIE AG;2023-03-14;"I don't know. I mean geopolitical situation at the moment doesn't seem to be easier than 2 years ago. I think that's a +fair statement to make.";4;4 +TECK RESOURCES LIMITED;2018-07-26;"We could also reduce debt further in a market that's quite volatile. And for a bit of geopolitical +uncertainty out there, that might be appropriate. And then, of course, we do want to steward our capital +for these potential growth opportunities, although by doing the partnering process of QB2, we would +require less than the market would have thought previously, and our financial resources will significantly +exceed what would be required for QB2.";1;1 +TECK RESOURCES LIMITED;2018-07-26;"And when we went into it +some 10 years ago, we think of it as a large open-pit mine, shovel truck operation, we have a lot of skill +and operating experience, expertise in that. And it's also a great geopolitical jurisdiction. Even under an +NDP government, it's a lot better than many other jurisdictions that if you were sitting in my seat, you + +TECK RESOURCES LIMITED FQ2 2018 EARNINGS CALL JUL 26, 2018 +Copyright © 2018";4;4 +TECK RESOURCES LIMITED;2018-07-26;"What I would say is that the board has had a thorough +discussion of the balance of risks and made a decision to be as prudent as possible on this project. And +look, if you've been in the business a long time, you know how hard it is to get a hold of a nice, clean, +doable project in a decent geopolitical jurisdiction that has a really long life -- mine life to payback ratios +of in excess of 10 or something. So to get ahold of that is really, really tough.";4;4 +CIRCOR INTERNATIONAL, INC.;2017-02-16;"Sequentially higher volumes in most of our businesses as well as the positive impact of our +simplification and operational excellence actions resulted in revenue of $158 million, adjusted earnings per +share of $0.48 and improved working capital and cash flow performance. + Although volatile energy markets and geopolitical uncertainty affected much of our industry in 2016, we +focused, as always, on the factors within our control. During the year, we continued to build a foundation +for strong organic growth, further optimized our organization, reduced structural costs and improved our +operational execution, steps that we believe will make us more competitive and profitable over the long +term.";1;1 +CIRCOR INTERNATIONAL, INC.;2017-02-16;"I mean, it seems like a lot of things +are pretty fluid with the current administration, and a couple of pro-business legislation could just change +this around very quickly. + Scott A. Buckhout +Chief Executive Officer, President and Director +Well, certainly, I guess maybe we should make it explicit here, any kind of geopolitical event that takes +supply out of the market could change things very quickly for this market. There's some of our customers +out there who are saying that's what it's going to take and that they're expecting that's ultimately going +to be the trigger.";3;3 +HPL ELECTRIC & POWER LIMITED;2022-05-27;"The economy is recovering quite well and moving towards the pre-COVID +normal level, and this is reflecting well on our business progress. I'm pleased to inform you that despite the COVID- +led disruptions, global supply chain challenges, raw material inflation and other macro geopolitical factors causing both +energy and put security crisis globally during the year, HPL was still able to grow its revenue by 16% year-on-year to +reach INR 1,014 crores for the financial year '22. + The company experienced good traction in all its business segments, causing our EBITDA to grow by 5% year-on-year +for financial year '22 to reach INR 125 crores.";1;1 +UROGEN PHARMA LTD.;2022-11-10;"With the simplified administration and addressable patient population, roughly tenfold that of low-grade UTUC, we expect UGN-102 +to have strong and rapid adoption and is positioned at this primary driver of value generation for UroGen's business over the long +term. + While geopolitical and macroeconomic forces continue to call for financial prudence, we remain confident in our ability to end the +year with around $100 million in cash. We continue to focus on capital preservation and investment in our core assets, specifically +JELMYTO sales growth and UGN-102 development, while carefully scrutinizing capital investments elsewhere.";1;1 +GENUINE PARTS COMPANY;2022-07-27;"Our emerging technology council comprised of global strategic partners also continues to help inform and advance our +strategies. + In Europe, our automotive team delivered a terrific quarter as well despite the dynamic geopolitical environment. Sales in +Europe increased 19% in local currency in the second quarter.";1;1 +GENUINE PARTS COMPANY;2022-07-27;"So we're trying to balance the strength of the first half and our momentum exiting Q2 while being eyes wide open and +prudent about what we see out there. And again, we've already talked about a few of these things with inflation, lingering +COVID conditions, the geopolitical landscape, ongoing supply chain constraints. + So look on the back half guide for sales, our original plan for the year assumes some normalization of growth rates in the +second half.";1;1 +CONCORDIA MARITIME AB;2022-08-17;"So the X factors, or the black swans that we need to keep an eye on. Obviously, geopolitical +instabilities with Ukraine, with Taiwan, and how that affects Western energy policy, sanctions and trade flows going +forward. We have the global economic situation and how much this will actually affect demand side.";3;3 +DELL EMC;2016-01-27;"In 2015, we experienced a sharp decline in +revenues in a significant number of the emerging-market countries we serve as these economies came +under pressure. We experienced business declines in Russia and parts of the Middle East on the back of +geopolitical unrest there. We experienced declines in our business in China as the country faced issues +with their equity and housing markets leading to a lowering of IT imports.";1;3 +POPULAR, INC.;2023-01-25;"We also believe that the improvement in the risk profile of the corporation's loan portfolio positions Popular to operate successfully +under difficult economic conditions. We remain vigilant and continue to closely monitor changes in [ our ] performance and the +macroeconomic environment, given potential economic headwinds rising interest rates and geopolitical uncertainties. + Turning to Slide #11.";1;1 +POPULAR, INC.;2023-01-25;"Looking ahead, I am optimistic about the economic outlook in Puerto Rico, our primary market. While we are aware of the +macroeconomic headwinds related to inflation and geopolitical risk, we are confident that given the amount of similar support from +federal funds, Puerto Rico will continue its growth path, albeit perhaps at a slower pace. 2023 marked Popular's 130th anniversary.";1;1 +PDS LIMITED;2023-05-12;"In the first 2 quarters, we have achieved high growth while during +the second half, we've witnessed some slowdown. The impact of the macroeconomic and geopolitical factors had a bearing on our +operations. We have witnessed some customer pushbacks due to lower demand and high level of inventory with brands and retailers.";1;1 +PDS LIMITED;2023-05-12;"So that is one advantage we have in being in the export business. + Turkey as a country is a little bit under pressure right now because of geopolitical situation and the earthquake that happened. But the +thing is many small, medium-sized businesses disappear.";3;3 +UNION BANK OF INDIA;2022-05-13;"The economy is on recovery path with activities surpassing pre-pandemic level across sectors. While GDP growth +estimates have come off considering geopolitical developments, India is seen as the fastest-growing major economy in +the world. Inflation concerns meanwhile have meant rising interest rates both globally as well as at home.";1;1 +GENTEX CORPORATION;2020-07-24;"The good news over the last couple of +years, there's been a lot of supply concerns. Whether that's part shortages or geopolitical issues, you name it. So I mean, +we've become pretty well versed in making sure we've derisked the supply base as best we can anyway.";3;3 +BHARAT FORGE LIMITED;2022-02-10;"Amit Babasaheb Kalyani +Deputy MD & Executive Director +Actually, the real increase will happen in the Jan to March quarter because energy prices went up in December, we +have seen this quarter. Another thing that I'd like to mention -- so another thing is that, please bear in mind that a lot of +geopolitical and other issues are creating energy cost increases in Europe right now. + Jinesh K. Gandhi +Motilal Oswal Securities Limited, Research Division +Right, right.";1;1 +BHARAT FORGE LIMITED;2022-02-10;"spglobal.com/marketintelligence +14 +Look, I think the one thing which worries me is cost and inflation, because in a backdrop where demand isn't or let's +say production isn't at the highest level, costs are escalating for all kinds of, let's say, extraneous reasons. Then I'm a +little worried about Europe because Europe is very sensitive and dependent on a lot of geopolitical issues, whether they +affect raw material supplies, energy supply, supply chain issues, et cetera. And I also expect that a lot of suppliers will go +bankrupt in Europe in the next 6 to 12 months.";3;3 +BHARAT FORGE LIMITED;2022-02-10;"So oil and gas usage for heating has gone up. And at the same time, we have geopolitical issues, +which are causing cost pressures. So honestly, I can't give you a forward-looking view like that.";3;3 +LENNOX INTERNATIONAL INC.;2022-07-28;"Europe Commercial HVAC was up mid-single digits at constant currency. The geopolitical environment is +weighing on the market regionally, and supply chain disruptions continue to impact our European operations. Overall, for +the Refrigeration segment, profit rose 73% to $23 million, and segment margin expanded 470 basis points to 13.8%.";1;1 +ASSURED GUARANTY LTD.;2022-11-08;"This year's third quarter was our best third quarter in international public finance and second best in U.S. public finance in more +than a decade. We believe there's been a permanent shift in the market toward a greater appreciation of our value proposition as the +pandemic, the volatility in the markets and the global economy, geopolitical unpredictability and climate-related natural disasters have +reminded investors of the vulnerabilities of their investments. + Municipal bond yields, which had risen dramatically in the first half of this year, continued to climb in the third quarter with the +benchmark yield for 30-year AAA GO bonds finishing at 3.9%.";1;1 +MIND TECHNOLOGY, INC.;2022-12-14;"Recently introduced higher sampling +rates for SeaLink, which produces higher resolution images and configurable systems, have resulted in increased interest in these 3- +dimensional high-resolution systems. + The ongoing global geopolitical and security situation, particularly in Europe and Asia, continues to highlight the need for our +maritime security and surveillance technology. We have recently experienced increased order activity, particularly for our multi-beam +side scan sonar systems, which we believe is related to these demands.";2;2 +SKYWORKS SOLUTIONS, INC.;2022-05-03;"And we have the size and scale of our manufacturing assets to support some big important product launches and ramps +in the second half of the calendar year as well in mobile and broad markets. And so we are very well positioned to see +some strong sequential as well as year-over-year growth in the second half of the calendar year, of course, assuming no +worsening of the geopolitical or macroeconomic or pandemic-related issues that we have seen in the past. + Christopher Caso +Raymond James & Associates, Inc., Research Division +As a follow-up, I'll ask on gross margins.";1;1 +EVN AG;2022-12-15;"The remaining additional costs +should be reflected in future tariff decisions by the regulatory authorities. + Due to the recent deterioration of the geopolitical and economic environment, above all, for global supply chains, we had to reassess +the risk and earnings expectations for EVN Group of the international project business of WTE. This resulted already during the +second quarter in impairment losses to goodwill in the international project business and to the residual carrying amount of the 2 +combined sludge fired heat and power plants in Moscow.";3;3 +EVN AG;2022-12-15;"I would like to conclude my presentation for the segments with the Environment segment. The geopolitical developments, being the +war in Ukraine, inflation, pessimistic economic outlooks, and global supply chain issues have changed the earning expectation for +the international project business of WTE. Therefore, right in the second quarter, we had to record impairment losses to goodwill in +the international project business in the amount of EUR 52.9 million, and total residual carrying amount of EUR 50.5 million of the 2 +sludge-fired cogeneration plants in Moscow. + +EVN AG FY 2022 EARNINGS CALL DEC 15, 2022";3;3 +EVN AG;2022-12-15;"The future development of earnings in the Environment Segment is always subject to the progress on international +projects, above all, the large scale project in Kuwait. Progress is subject to geopolitical environment, however, given that segment +results in '21/'22 were influenced by negative one-offs and improvement in earnings is expected in the current financial year. + With this, I conclude the presentation of this segment.";3;3 +THOMAS COOK GROUP PLC;2017-11-22;"To date, we've already reduced the cost of our interest on our fixed term debt by around GBP 18 million on +an annualized basis through liability management actions, such as paying down GBP 100 million of fixed- +term debt and replacing bonds with lower coupon rates. + We'll continue to look for opportunities to further lower our interest costs, and we remain committed +to reducing our fixed term debt, albeit carefully balancing the liquidity needs of the business and the +economic and geopolitical outlook as well as the conditions in the capital markets. + I'm now going to hand back to Peter, who will update you on our strategic progress.";3;3 +BANCOLOMBIA S.A.;2022-05-12;"Juan? +Juan Carlos Mora Uribe +President & CEO +Thank you, Jose Humberto. Even though the levels of uncertainty that we are facing not only in Colombia with elections, +but with the global geopolitical conflict, we are positive with this year results. I want to close the call updating our 2022 +guidance.";1;1 +JSC HALYK BANK;2022-03-15;"In 2021, the Kazakhstan economy rebounded substantially throughout the major sectors of economy +on the back of restored business activity, efficient government support measures and oil price recovery. We are saddened +by developments of the current geopolitical situation in the region and greatly hope for the soonest diplomatic resolution of +the ongoing Russia-Ukraine conflict. + We are constantly monitoring the situation and implications it might have on the economy.";1;1 +JSC HALYK BANK;2022-03-15;"We see that it was a +very high profit, historically high profit for the next year. However, situation and events what are happening right now in +Kazakhstan and in the geopolitics around still have a lot of uncertainties and we would be more on conservative side. So +-- and we will consider and look to the situation, which is developing on a daily basis.";1;1 +JSC HALYK BANK;2022-03-15;"Basically, I think the question is what is drivers for that growth? Is it something related to geopolitical +risks or your question is whether it's related to our anticipation of, let's say, reduction of GDP? We think that GDP growth +would continue this year because it's pretty much dependent on extraction sector, mineral sector.";4;4 +BC TECHNOLOGY GROUP LIMITED;2020-08-13;"I guess six months on and the world +has changed dramatically, and everyone on this call have become experts with this medium. COVID-19 itself, along +with geopolitical tensions, have changed the way businesses operate, engage with their customers in a very significant +way in a very short period. We are not immune.";3;3 +AS VIRSI-A;2023-03-03;"Janis Viba +Chairman of the Board +Yes, and also about key events and to [ comment a little ]. So what basically we think are the key events in '22 is obviously the first +one is this adoption to the reality of geopolitics. Because we remember that we started the year with COVID and we are having +this tragic war in Ukraine, and then we are having also some economic issues in several countries.";3;1 +AS VIRSI-A;2023-03-03;"And then if we speak shortly about each segment, I will begin with fuel. So what is +happening in fuel is that basically, as mentioned, a lot of geopolitical impact on this because of which the supply chains are getting + +AS VIRSI-A FY 2022 EARNINGS CALL MAR 03, 2023 + Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3 +USANA HEALTH SCIENCES, INC.;2023-10-25;"You're still probably down 30% or more since 2018. You read about the geopolitical +tensions there. Can you just update us on where you sit today on your outlook for China versus maybe 5 years ago when it seemed like +an entirely different picture? +G. Douglas Hekking +Chief Financial Officer +Yes, Doug, we got someone who's incredibly qualified to answer that question in person.";4;4 +MOODY'S CORPORATION;2019-10-30;"Issuance and activity increased after 4 consecutive quarters of decline, and was a key driver of our third +quarter operating performance. Central bank actions and falling benchmark rates created issuer-friendly +market conditions, overcoming continued geopolitical uncertainty and bearish global growth forecasts. + Strong corporate fixed rate bond issuance, driven by opportunistic and M&A-related financing aided MIS +in delivering robust growth in the third quarter.";1;1 +MOODY'S CORPORATION;2019-10-30;"I'll now discuss Moody's updated full year 2019 guidance. + Moody's outlook for 2019 is based on assumptions about many geopolitical conditions and macroeconomic +and capital market factors. These include, but are not limited to: interest in foreign currency exchange +rates, corporate profitability and business investment spending, mergers and acquisitions and the level of +debt capital markets activity.";4;4 +MOODY'S CORPORATION;2019-10-30;"And are able to be pretty candid in +sharing our thoughts and views and hearing their thoughts and views. + That being said, I think it's difficult to completely separate the relationship with the authorities from +what's going on at a geopolitical level. And so we're behaving conservatively in terms of how we are +thinking about the pace and the nature of the opportunity in China.";3;3 +MANHATTAN ASSOCIATES, INC.;2018-10-23;"While this is positive, deal size is maybe a bit smaller as +subscription revenue is recognized over time and product components are also easier to add over time in +contrast to the one-and-done enterprise deals. We also retain some caution around slow decision-making +by some clients, particularly retailers and potential global macro and geopolitical events that could impact +business investment cycles. + Shifting to maintenance.";3;3 +MANHATTAN ASSOCIATES, INC.;2018-10-23;"spglobal.com/marketintelligence +8 +our adjusted EPS and adjusted operating margin guidance. To reiterate, we remain cautious regarding the +retail environment, the global macro environment given geopolitical and economic volatility, and finally, +our cloud transition. So for revenue, with 1 quarter remaining in 2018, we're adjusting our total revenue +guidance from the previous range of $548 million to $560 million to $552 million to $555 million, with a +midpoint estimate of $553.5 million.";1;1 +TORM PLC;2023-11-09;"This has also brought along a higher volatility level +as the product tanker field has moved closer to the point of full utilization where even small changes in the underlying demand and +supply are creating high volatility in freight rates. + In recent weeks, another devastating geopolitical conflict in the Middle East has shaken the world. So far, the impact on the product +tanker market has been marginal and more indirect via the oil price volatility, but a potential escalation of the Israel and Hamas +conflict to a broader region could have a more significant impact.";1;1 +TORM PLC;2023-11-09;"So far, the impact on the product +tanker market has been marginal and more indirect via the oil price volatility, but a potential escalation of the Israel and Hamas +conflict to a broader region could have a more significant impact. + On top of the geopolitical factors there are, of course, also other drivers that have affected the market, such as refinery maintenance +and temporary export ban in Russia, just to mention a few. The impact of this has nevertheless been smaller and up temporary in +nature.";1;1 +LEONARDO S.P.A. FY NINE MONTHS;2023-11-09;"And we are now in a good track for the improvement of the free cash +flow that we promised at the very beginning to be one of the priorities. + Concerning future actions, as we said 6 months ago, we've been working on governance and organization, a geopolitical strategic +positioning of the company and products and technology for the future. So let me update you on the progress in those 3 areas after 6 +months of work.";3;4 +LEONARDO S.P.A. FY NINE MONTHS;2023-11-09;"We cannot do this. + Let's go now to the second promise to the second activity, which is geopolitical strategic positioning of the company. What to be very +clear, I'm strongly convinced that I -- of course, I discussed this with all our collaborators, executives and people in the company.";3;4 +SOFTBANK GROUP CORP.;2023-05-11;"It's been very unstable or 1 year. There are big geopolitical risk, including Russia situations, U.S.-China +situations, which are kind of expected status but we have not been able to see any improvements so far. And also towards the end of +the fiscal year, we've been seeing the financial system instability, including Silicon Valley Bank, Credit Suisse and so on, which was +unexpected event for all of us.";3;3 +SOFTBANK GROUP CORP.;2023-05-11;"So on -- it is going to be a very liquid assets once they go public and the listed company T-Mobile, Deutsche Telekom is +also -- maintain -- give us a good strength in terms of the liquidity as well. + Regions, looking at the geopolitical situation. This is also important to keep in mind.";4;4 +SOFTBANK GROUP CORP.;2023-05-11;"So from a stock market perspective, the climate might be better. And the volatility index has been sort of stabilized and geopolitical +risk indicator, which is created by BlackRock. When a surprise risk takes place, you see a huge hike.";4;4 +SOFTBANK GROUP CORP.;2023-05-11;"In the last quarter, we see sign of improvement. However, from our perspective, that's not exactly the +case because geopolitical risk, Russian, Ukraine, U.S., China [ flexion ] around China, unfortunately, those geopolitical risk in the +last 1 year have not been addressed and we don't see any solution. So we have to keep that risk in mind.";1;1 +SOFTBANK GROUP CORP.;2023-05-11;"Kana Inagaki +[Interpreted] Inagaki from Financial Times. To Goto-san, in the presentation, you mentioned a lot about geopolitical risks. You +stressed geopolitical risks.";4;4 +SOFTBANK GROUP CORP.;2023-05-11;"To Goto-san, in the presentation, you mentioned a lot about geopolitical risks. You +stressed geopolitical risks. And you also mentioned that there's no solution.";4;4 +SOFTBANK GROUP CORP.;2023-05-11;"And you also mentioned that there's no solution. That's why you are very concerned about geopolitical +risks. Without solution against those risks, how are you going to address them?";4;4 +SOFTBANK GROUP CORP.;2023-05-11;"And we quantify risks and use that information as judgment is very important. Of +course, China is something that we are concerned about from a geopolitical perspective, but Russian-Ukraine issue is the biggest. + Operator +[Interpreted] And next question is Mr";1;1 +IHI CORPORATION;2023-05-09;"In these regards, the original purpose of Project Change, which was to prepare for business transformation is being +fulfilled. + On the other hand, instability in societies has become the norm, such as COVID-19 and geopolitical instability, including issues in +Ukraine. Under such a business environment, we feel we need to further enhance corporate strength.";1;1 +ARMSTRONG WORLD INDUSTRIES, INC.;2023-10-24;"I think overall, I think the level of uncertainty remains in the marketplace. Even though the uncertainty was driving a lot of +the back half expectations for softer economic conditions that didn't materialize, I still think given the geopolitical issues and I +think interest rates, there's still some uncertainty around their overall impact on the economy. And I think that gives -- especially +discretionary area of renovation work, I still think there's some pause there.";1;1 +KB FINANCIAL GROUP INC.;2018-04-19;"For the Korean economy, on the back of global economic recovery and better Korea-China relations, GDP +growth is expected to be around 3%. And with the holding of the summit talks between the 2 Koreas, +geopolitical risk is expected to alleviate, creating an overall favorable backdrop. + Under such backdrop, underpinned by stable group margin, we plan to grow loans to high-quality SMEs.";2;2 +NOVELIS INC.;2023-02-06;"Our +fiscal third quarter was difficult with weaker-than-expected results. We projected that macroeconomic headwinds and geopolitical +instability would continue to pressure the business, driving an extraordinary inflationary environment and high energy costs, in +addition to negatively impacting interest rates, aluminum prices and scrap spreads. + However, the third quarter proved to be even tougher than anticipated.";1;1 +ENEA AB FY NINE MONTHS;2022-10-26;"Cybersecurity is +our newest business area through the acquisition of AdaptiveMobile Security last year. We continue to see strong development -- +solid development of that business area and of course a high attention on the market on cybersecurity enhanced by the geopolitical +environment. Having said that, we also see challenges of the market; energy prices, inflation, higher interest rates do create pressure +for customers and it does affect the investment climate.";3;3 +ENEA AB FY NINE MONTHS;2022-10-26;"We also see a strong movement driven by efficiency and agility towards what can be called +the Digital telco where the first movers are really setting the scene now to reshaping the industry, basing operations for example on +model cloud technology and cloud operations. Cybersecurity is by no doubt one of the hottest areas in our industry driven by increased +geopolitical tension. We see evidence of attacks almost all the time and we know that mobile networks are strategic and therefore +potential targets.";1;1 +NOVAGOLD RESOURCES INC.;2021-01-28;"I'm a believer in Economics 101. And the truth is that if you would superimpose the multiplicity of black swans +that exist economically, geopolitically, militarily onto the incredible disequilibrium between supply and demand, the mining +industry and the jurisdictional risks, you really are looking at an accident that's already happened. It's an implosion of +the industry in certain respects, which is very bullish for gold and bullish for those companies that can profit from these +factors.";2;2 +NOVAGOLD RESOURCES INC.;2021-01-28;"He used to say, ""It's Frank's world, we're just living in it."" Well, unfortunately, I think that that's what's happening +now on the geopolitical stage. And we should count our blessings, suffice to say.";4;4 +APEX FROZEN FOODS LIMITED;2023-06-05;"We have uploaded the investor presentation on the website of the stock exchanges, and we hope you have had a chance +to go through it. + The financial year 2023 started on a challenging note due to the geopolitical tensions, especially for export-oriented companies that +had just recovered from the after effects of the COVID pandemic. This, in turn, of course, elevated the risk mitigation measures by the +major economies in the world, leading to inflationary pressures as well as recessionary sentiments.";1;1 +K-BRO LINEN INC.;2023-03-22;"In 2022, our results reflected a few key factors. While our revenue has returned to pre-COVID levels, our EBITDA margins were +impacted by temporary labor inefficiencies and higher inflation related and energy costs stemming from the COVID pandemic +and certain geopolitical events. We're actively managing these factors and working with many of our Canadian, U.K. customers to +implement price increases to offset higher inflation-related costs.";3;3 +ION GEOPHYSICAL CORPORATION;2019-02-07;"All Rights reserved. + spglobal.com/marketintelligence +5 +and deals continue to be pushed out due to geopolitical challenges and conservative exploration spending, +which I'll discuss further. The previously anticipated improvement in deal flow in our E&P Technology +& Services segment continue to be impacted by limited exploration spending and two key geopolitical +factors; the Panama license round delay and the Mexican presidential election, changing the E&P +landscape.";3;3 +ION GEOPHYSICAL CORPORATION;2019-02-07;"spglobal.com/marketintelligence +5 +and deals continue to be pushed out due to geopolitical challenges and conservative exploration spending, +which I'll discuss further. The previously anticipated improvement in deal flow in our E&P Technology +& Services segment continue to be impacted by limited exploration spending and two key geopolitical +factors; the Panama license round delay and the Mexican presidential election, changing the E&P +landscape. Panama and Mexico data sales were expected to contribute $30 million to $40 million in the +back half of 2018.";3;3 +MANHATTAN ASSOCIATES, INC.;2018-07-24;"While this is positive, deal sizes may be +a bit smaller as subscription revenue is recognized over time and product components are also easier to +add over time in contrast to the won-and-done enterprise deals. + We also retained some caution around slow decision-making by some clients, particularly retailers, and +potential global macro and geopolitical events that could impact business investment cycles. + Shifting to maintenance.";1;3 +ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"So first point is all around the forces driving the sector. We have been serving quite a moment in terms of geopolitical and +macroeconomic instability. And this has been reflected in the worsening of the ICT distribution volumes across all European +countries.";1;1 +ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"Well, it's been and it is a year of transition. We are accelerating the implementation of our group strategy, which we +have stated more than once, and we have been doing it between geopolitical and macroeconomic instability and a lot of ICT sector +challenges. More specifically, what does it mean accelerating the strategy.";1;1 +ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"But with gross profit margins and +EBITDA margins well above 2021, having achieved them with lower revenues. + What about the future, the macro and geopolitical scenario has changed the ICT market. It looks like yesterday, when we were +thinking of a major growth in terms of the GDP out of the pandemic, but then war, inflation, rise of interest rates, all hit the market +and changed the scenario for all industries, I would say.";1;1 +ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"Well, there's at last a forecasted +recovery for our industry 2024, lower in H1, stronger in H2. Of course, everything influenced by geopolitical and economic +instability. There's been a lot of changes in the market and they keep happening, but there are new interesting areas of growth: AI, +cybersecurity, everything as a service, sustainability.";1;1 +THE DUCKHORN PORTFOLIO, INC.;2022-03-10;"As Alex discussed, our first half +performance demonstrated continued strong performance and sales execution. We are also mindful that COVID-19 and +geopolitical upheaval present meaningful uncertainties as we forecast our business. + We expect strong brand performance to continue through the second half, although growth rates will moderate as we +cycle the recovery of on-premise in the back half of last year.";1;1 +THE DUCKHORN PORTFOLIO, INC.;2022-03-10;"So I think that, that would be the offset to some inflationary +pressures. + And then finally, take it geopolitical or inflation, when -- typically, when consumers get a little nervous, they go to trusted +brands. And I think with 45 years of doing a really good job, we would fit into that category.";2;2 +HELIX ENERGY SOLUTIONS GROUP, INC.;2023-02-21;"So that's had the effect of cooling the demand for P&A in the near term. I see that +returning probably in '24, '25 time period depending on geopolitical events, but that's the North Sea. There is a huge backlog of work +though that needs to be done.";3;3 +ZAI LAB LIMITED;2022-05-11;"While COVID-19 did not have a significant impact on our business in the first quarter, it has presented access difficulties, +which we believe are likely to have a modest impact in the second quarter in China. + Even so, we remain very confident in the underlying strength of our business despite the COVID-19 situation in China and +the current macro and geopolitical hindrance. The fundamental drivers of value at Zai Lab are further strengthened to our +expanding leadership team, global talent and our ever growing pipeline.";1;1 +CRITEO S.A.;2022-05-04;"As a reminder, our financial guidance +for Q2 and fiscal year 2022 excludes the proposed acquisition of IPONWEB. Like everyone else, we remain cautious +about our outlook for the remainder of the year given the uncertain macro backdrop and ongoing geopolitical issues, high +inflation, continued lockdowns in Asia and global supply chain disruptions. + For 2022, we have updated our guidance and now anticipate constant currency growth of 8% to 10% in contribution +to ex-TAC.";1;1 +FLEX LTD.;2020-10-29;"As I think about Q4, I would +anticipate trends roughly in line with typical seasonal declines. While I would certainly like to provide as much visibility as +we can, given the continued uncertainty from the pandemic and the geopolitical concerns, we will refrain from providing +complete Q4 or full year fiscal '21 guidance at this time. + Now I want to talk about our solar space.";1;1 +FLEX LTD.;2020-10-29;"I'll say that on trade, +we expect that the overall kind of -- based on whether President Trump continues or we have a new government, we +think the focus on China continues to some extent. We believe that the focus on regionalization will continue to be a +conversation across our customer base just to derisk whether it is due to geopolitical issues or whether it's related to +health pandemic issues. + We think the green investment is a plus for us.";3;3 +EQUINOX GOLD CORP.;2022-08-04;"Even +though it came down just under 10% from its highs, it's still outperformed almost every other asset class this year and +the general decline of all asset classes, but there's still a very, very strong case for gold and a very strong case for gold +moving higher in the foreseeable -- in the very near-term future and longer-term future. Obviously, it responds well in the +geopolitical turmoil, which I think we can say we have today between what's going on in Asia, what's going on in Ukraine. + Certainly, we have persistent inflation.";2;2 +PARAGON CARE LIMITED;2023-08-30;"We used to talk about this as being an opportunity limited to +just China. There are certainly geographical -- geopolitical challenges, and that's something that's focused entirely on China, but we +think the opportunity is much broader than that. And while we'll initially focus on Asia, the work we've done, I think, shows us that +there's potential opportunities in Europe and the U.S. as well.";2;2 +ETSY, INC.;2018-08-06;"Revenue guidance also moves up to 33% to 35% year-over-year, and we +expect our adjusted EBITDA margin to remain 21% to 23% as we are focused on growth investments. + We continue to point to several headwinds that may offset the growth we expect in 2018, such as GDPR, +potential churn from our new pricing model, foreign exchange, and various geopolitical events. For +additional factors that may impact our guidance, please refer to our Q2 presentation on our Investor +website.";1;1 +POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SP...;2022-08-18;"Now we also have another -- we have further factors that have, let's say, affected +this very positive part, PLN 422 million. I believe that geopolitical and regulatory factors that might play in the issue. + Now let us take it a step further.";4;4 +DAVIDE CAMPARI-MILANO S.P.A.;2019-05-07;"For the full year, looking ahead, our outlook remains fairly balanced both in terms of risks as well +as opportunities and unchanged to the previous announcements. The underlying performance, we'll +see continued positive business momentum and sales growth, this despite the uncertain geopolitical +macroeconomic environments. But from quarter-to-quarter, we'll reflect different comparison basis.";1;1 +DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"This is of +course not satisfactory; however, the figure is better than we originally expected and proves that the +steering and capacity measures we have initiated over the summer are having a positive effect. + Nevertheless, the decline in fuel prices, which is about 1/2 of the number I just showed you, and the +particular geopolitical deterioration had a highly adverse impact. In a more stable environment and with + +DEUTSCHE LUFTHANSA AKTIENGESELLS...";1;1 +DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"And we are +not expecting any improvement here in the next few months, because tourist demand in Asia is a less +spontaneous business. A recovery is only anticipated from next year and subject to the geopolitical +situation being perceived as somewhat less tense. We do, however, expect the new joint venture with Air +China to have a positive impact.";3;3 +DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"Obviously, as mentioned before, we don't think so. + With shoe [ph] prices being a little bit higher than before and the relative economic development in +Continental Europe, and hopefully the geopolitical situation not getting worse, can be a good reason to +believe that we have seen the worst here when it comes to unit revenues decline. And also, once again, + +DEUTSCHE LUFTHANSA AKTIENGESELLS...";1;1 +HORIZON GLOBAL CORPORATION;2022-08-09;"During the quarter, consumers experienced the impact of inflation on pricing across virtually all consumables. They faced +uncertainty associated with the trajectory and duration of that inflation, continue to witness geopolitical conflicts and rising +tensions around the world and continue to endure the impact of supply chain constraints on product availability. When +you add in heightened inventory levels held at our non-OEM customers at the beginning of the quarter, it resulted in a +significant impact to our top line and margin.";1;3 +AIR FRANCE-KLM SA;2022-05-05;"Let's start by looking at the big picture of the airline industry at the global level. Very +beginning of the year was marked by a resurgence of COVID due to the Omicron variant and a tense geopolitical context +in Ukraine, which didn't help in the short term. However, this negative impact seems to have been limited in time.";1;1 +AIR FRANCE-KLM SA;2022-05-05;"This is particularly true in Europe with intra-European capacity now at about +89% end of the year 2019 capacity levels and transatlantic capacities also up sharply at about 80%, both key markets for +our group. While we remain cautious regarding the health and geopolitical context, our operating environment continues to +improve. + Turning now to Page 4.";1;1 +AIR FRANCE-KLM SA;2022-05-05;"Turning now to Page 4. For Air France-KLM, this positive environment resulted in an encouraging performance in the first +quarter, slowed somewhat by Omicron and the geopolitical context in January and February, but which bounced back very +well in March. This momentum points to a solid summer in 2022.";1;1 +NEWMONT CORPORATION;2023-02-23;"We then look at what are the mega trends impacting the world, our industry and our company, and those mega trends are coming from +society to investors. They're coming from technology, and they're coming from geopolitical events around the world as we're seeing +playing out. So we understand and assess those mega trends and determine what set of capabilities and what sort of organization we +need to be 10 years from now, 15 years from now, 20 years from now.";3;4 +PIONEER NATURAL RESOURCES COMPANY;2022-05-05;"Robert Alan Brackett +Sanford C. Bernstein & Co., LLC., Research Division +I have a question around the dividend yield. It's almost a bit of a half empty half full cup argument, which is to say you've +made a pretty compelling case around higher margins than peers, lower OpEx, longer inventory, better geopolitical +position in terms of pure-play Texas, yet your peers have had their share prices bid up or their dividend yield bid down to +significantly lower levels. So it begs the question, what are you guys being valued on?";4;4 +CERUS CORPORATION;2022-05-05;"Product revenues for the first quarter of 2022 are the highest for +any first quarter in our history as we report year-over-year growth in all major geographic regions to start 2022. With our +20th consecutive quarter of year-over-year revenue growth, we are demonstrating an enduring ability to expand access to +INTERCEPT treated blood components even in the face of geopolitical and economic uncertainty. Our results were once +again led by strong growth for platelets in the U.S., which was up over 130% on a year-over-year basis.";1;1 +ELASTIC N.V.;2023-11-30;"During the second quarter, we saw continued improvements in cloud consumption patterns as customers increase their consumption +against commitments that they had previously made. With that said, we continue to monitor consumption patterns against the +backdrop of an evolving macro and geopolitical environment. While many customers have already gone through optimization of their +consumption use cases, we do continue to see cost consciousness and spend management as themes in the market.";1;1 +TOTAL S.A.;2019-07-25;"Brent was at $60 per barrel in June, +down from a high of $74 per barrel in April. And in July, it has been regaining strength with support from +OPEC and geopolitical tensions. Natural gas prices, notably NBP in Europe and spot LNG in Asia, have +fallen sharply in a move that we attribute mainly to mild weather in the face of ample supply.";4;4 +VICTORY CAPITAL HOLDINGS, INC.;2023-11-03;"This bodes well +for accelerating the already positive net flow momentum at WestEnd that I mentioned earlier. With the trillions of dollars that is +currently invested in cash and cash equivalents, we are exceptionally well positioned in anticipation of investors eventually re-risking +portfolios when there is more visibility around the direction of interest rates, as well as economic and geopolitical conditions, given +the investment performance in our fixed income products and our distribution positioning. Moreover, our suite of equity offerings +continues to perform very well, and our distribution positioning within our different channels is as strong as ever.";2;2 +TRIFAST PLC;2023-11-21;"We are, though, at the early stages of our turnaround journey, +and there remains a lot for us to do. And at the same time, we're facing an increasingly challenging macroeconomic and geopolitical +environment, through which we must navigate and remain focused on our execution to maintain the positive momentum that you'll +hear that we've started. + We're working through our strategy and our turnaround plan, which, coupled with the delivery of our margin, operational and working +capital improvement programs, will ensure that we deliver on our midterm targets.";1;1 +TRIFAST PLC;2023-11-21;"For working capital improvements, we're looking at using the systems for scheduling and EDI messaging and also consignment +inventory conversations with our supply base. We're looking at nearshoring too, and that enables us not just to derisk the supply chain +geopolitically, but also for us to achieve our sustainability goals over time. + Then as we turn to the customer, you'll see 2 things referenced on this bar: G200, which is our Global 200 customers; and HYMS, +an acronym which means high yield market segmentation.";3;3 +GEM DIAMONDS LIMITED;2019-09-05;"The global economic backdrop is still difficult and uncertain, even though +that the U.S. economy is growing, perhaps more so on the tech side. The issue of rising geopolitical +tensions and the trade war, really is causing huge uncertainty with the merge ebbing and flowing. And the +last point under the left-hand column is that China has regained its status as the fastest-growing major +economy ahead of India, but it looks as if the 6% is under threat there.";1;1 +HEINEKEN HOLDING N.V.;2023-07-31;"Looking further ahead, the unprecedented commodity and energy cost inflation in +recent years will be partially reversed next year, easing the pressure on pricing. + Together with the structural changes we are making with EverGreen, we are confident this will set us up for a balanced growth +delivery in '24, while we remain cautious about the macroeconomic and geopolitical environment. Our strong cost and productivity +efforts will continue and enable further support behind our growth agenda, fund investments behind EverGreen and contribute to +operating profit growth.";1;1 +VARROC ENGINEERING LIMITED;2023-11-07;"Good evening to everyone, and I thank ICICI Securities for hosting this call. To start with, the geopolitical +situation in Europe and the Middle East has created uncertainty in the global business environment. The interest rates may come under +pressure if inflation goes up further due to a spike in oil prices.";1;1 +VARROC ENGINEERING LIMITED;2023-11-07;"Passenger vehicle grew by 5.6% year-over-year, and sequentially, by about 12.7%. So we still need +to see what kind of impact all these geopolitical developments will have on the economy and the industry going forward. But we are +hoping that the festival season should help us to some extent in Q3 also.";1;1 +VIRTRA, INC.;2023-11-14;"This can +primarily be attributed to the longer lead times for the international pipeline. And while our international pipeline has grown, the +current geopolitical tension and U.S. government budgeting issues have affected the expected release dates of those opportunities. We +do expect higher close rates in the next several quarters as that funding and those projects are released.";3;3 +SEADRILL LIMITED;2022-09-01;"For many years, the distressed and oversupplied +jack-ups segment had a little prospect of seeing market utilization of up the critical 90% threshold. However, current geopolitical +tensions have impacted strongly on contracting opportunities as the Middle East producers to presently control shallow water + +SEADRILL LIMITED FQ2 2022 EARNINGS CALL SEP 01, 2022 +Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3 +WOODWARD, INC.;2016-04-19;"We are also seeing increased demand +for smart weapons that use our actuation systems. With no anticipated change in the geopolitical +environment, we expect defense to remain solid for the foreseeable future. + Turning now to Industrial.";2;2 +MASTEK LIMITED;2022-01-20;"So what is +your thought process behind this? Is it a geopolitical risk is there or what is basically stopping us to go for a larger number +of deals over there? + Hiral Chandrana +Global Chief Executive Officer +No, so maybe I can clarify that a little bit.";4;4 +THE CARLYLE GROUP INC.;2022-11-08;"Moving on, let me discuss the broader environment and how that impacts our investment outlook. All of you see the same things +we do: rising interest rates, high levels of inflation, geopolitical uncertainty, each of which lead to increased market volatility and +headwinds for investors and operators. This is unlikely to resolve in the short term, though our teams are not sitting back and waiting +for better days.";1;1 +THE CARLYLE GROUP INC.;2022-11-08;"As you've heard, Carlyle delivered strong third quarter and year-to-date results in a +particularly challenging quarter, a testament to the strength of our investment platform and the quality of our 3 global business +segments. While economic and geopolitical uncertainties are creating headwinds, our business continues to deliver impactful results. + Consider the following: Fee-related earnings of $632 million year-to-date are up almost 50% from the same period last year and are +already higher than any full year in the firm's history.";1;1 +QINETIQ GROUP PLC;2023-11-16;"So as I highlighted at our recent investor seminar, the world is experiencing the most severe threat +environment for a generation with conflict escalating in Eastern Europe and the Middle East as well as growing tensions in the Indo- +Pacific. Within this geopolitical context, we are a differentiated company with a unique value proposition. In response to the threat, +we deeply partner with our customers to rapidly create and experiment with new capabilities, test those capabilities are safe and +perform as intended and ensure our war fighters are trained and operationally ready to use those capabilities.";2;2 +FOSUN INTERNATIONAL LIMITED;2022-08-31;"spglobal.com/marketintelligence +5 + Well, in the first half of this year, as we know that because of geopolitical and also capital market and also the resurgence in +COVID-19, there are a lot of challenges. And for Fosun International, and based on our 4 engines and our strategy, we have seen very +stable growth in the first half of this year.";1;1 +FOSUN INTERNATIONAL LIMITED;2022-08-31;"And now I'd like to talk about our strategy and also corporate governance +in H1 2022. + So in the past 6 months, we see the tension in geopolitics. And also, we see the resurgence in pandemic.";4;4 +AU SMALL FINANCE BANK LIMITED;2023-01-19;"We are on the course of namely a robust foundation +for building a sustainable and a scalable bank. + In terms of micro, you all know that global economic activity has been slowing down due to the adverse impact of geopolitical +tensions, tightening global financial conditions, persistently high inflation and sharper than expected monetary tightening by central +banks globally. Consequently, India continues to face intensified pressures due to the global inflationary trends, weakening global +demand and high volatility in portfolio flows.";1;1 +AU SMALL FINANCE BANK LIMITED;2023-01-19;"I remain confident of our business model and execution capabilities and optimistic that we are well positioned that AU +will deliver for a robust Q4. + You would agree with me that despite the macro economic headwinds and the geopolitical challenges, India has emerged as a bright +spot in the global arena. Similarly, within the banking landscape, I believe India is listed to act sweet spot.";1;1 +ENIGMO INC.;2023-03-16;"We would like to try anyway to create a second +business pillar following the BUYMA business and establish a new revenue base. We intend to make this year the foundation for +creating a business portfolio that mitigates the impact of foreign exchange rates and geopolitical factors. + As for specific targets, we have set two major themes for this fiscal year: the evolution of the customer experience in the BUYMA +business and the creation of a new revenue base through new businesses and M&A.";3;3 +ENIGMO INC.;2023-03-16;"On the other hand, we may consider dropping them to Tier 2 or, in some cases, selling them to outside companies if they are no longer +in step with the times. In this way, we will always determine the areas of our strategic focus and build a business portfolio that is less +susceptible to the influence of the times, currency exchange rates, and geopolitics, but can grow continuously and take advantage of +our strengths. + As part of these efforts, we strategically invested in Cykinso, Inc., the number one company in terms of the number of intestinal flora +tests conducted, to enter a new area of business.";1;1 +HERMÈS INTERNATIONAL SOCIÉTÉ EN COMMANDITE...;2021-07-30;"These good results reward the extraordinary +work of all our teams and the solidity of our model, but we remain aware of the uncertainties linked to the pandemic and +the global context. + In the medium term, despite the economic, geopolitical and monetary uncertainties in the world, the group confirms an +objective of ambitious progression of its revenue at constant exchange rates. The 2021 theme, a guiding thread of the +creation, is that of the Odyssey, and thus, we pursue our journey such as the Odyssey's, faithful to himself despite the +challenges and successes.";1;1 +TTK PRESTIGE LIMITED;2022-05-30;"So obviously, we wanted to first feed the domestic market before we go for the export market. Now we believe that +exports do offer us an opportunity because of China and the new geopolitical situation, and the China Plus One +happening with all buyers. And we believe that we are here to capture -- capitalize on that.";2;2 +FIERA CAPITAL CORPORATION;2018-11-09;"Investors had plenty to contemplate during the third quarter, +including an escalation of President Trump's protectionist agenda, turmoil in emerging markets and +politically charged environments in Europe. The good news is that the direct economic impact from these +geopolitical tensions is likely to be manageable. Despite the hostile trading environment and despite +the market correction experienced in October, we expect the global economy to continue continually +driven.";1;1 +FIERA CAPITAL CORPORATION;2018-11-09;"Furthermore, the fiscal stimulus for both the U.S. and China is set to expand +the economic upturn well into 2019 and provide a buffer as major central banks take coordinated steps +towards monetary policy normalization. + Taken together, narrative for the -- of a synchronized global expansion remains firmly intact, while the +accommodative monetary and fiscal impulse should allow the expansions to continue uninterrupted in the +coming year, helping to overcome the uncertain geopolitical backdrop at hand. + Looking ahead, we are enthusiastic about our 2022 strategic plan, which aims to establish Fiera Capital as +a top-tier multi-strategy asset manager recognized for providing the best solutions to our clients globally.";1;1 +THE HONGKONG AND SHANGHAI HOTELS, LIMITED;2020-03-17;"There's a slight decline in RevPAR. + The Middle East market segment was impacted by the U.S. administration's travel restrictions and +geopolitical tensions. The hotel's food and beverage performance improved in 2019.";1;3 +BROWN-FORMAN CORPORATION;2023-06-07;"We are optimistic as we look ahead. We have now cycled through the largest impacts of the +pandemic and after the global macroeconomic and geopolitical volatility experienced in fiscal 2023, we believe trends are beginning +to normalize around the world. After 2 years of strong growth, which were well above our long-term trends, we continue to believe +that the strength and increasing premiumization of our portfolio of brands, the resilience of our people and the strategic investments +we have made will deliver continued growth on this elevated base.";1;1 +TP ICAP GROUP PLC;2023-03-14;"I'll start with Global Broking. Total revenue in Global Broking was up 7% at GBP 1.3 billion with growth in all +asset classes in a year of significant volatility driven by geopolitical events and a highly uncertain macro environment. Rates remains +our largest and most profitable asset class.";1;1 +TP ICAP GROUP PLC;2023-03-14;"In foreign exchange, there were 3 key drivers of volatility in volumes in 2022. The strength of the U.S. dollar, the pound +hitting all-time lows in conjunction with inflationary pressure and geopolitical uncertainty. + Looking ahead, we expect recessionary pressures and interest rates to continue driving currency volatility.";1;1 +NOVA LTD.;2022-08-04;"While we keep gaining momentum from multiple industry growth driver in +various semiconductor segments, we continue to expand our portfolio diversification and its market adoption to secure +long-term growth and outperformance. This quarter results demonstrate once again the resiliency we're embedding into +our operating model, which continues to be strained by multiple elements, including supply chain issues and various other +macroeconomics and geopolitical concerns. We believe that the fundamental changes implemented in the company over +the last 2 years to meet our strategic goal of reaching $500 million in revenue will significantly strengthen the company +position in multiple verticals and markets in the next few years.";3;1 +ORIENTAL CARBON & CHEMICALS LIMITED;2022-08-03;"Hope each one +of you had a chance to go through the same. + The global economy is reflecting high inflation and supply chain disruptions on account of geopolitical tensions. High +energy prices have impacted industries across sectors.";1;3 +ORIENTAL CARBON & CHEMICALS LIMITED;2022-08-03;"There has been a surge +in demand for tippers and tractor trailers. Automotive and tire demand shall improve with the expected moderation in +inflationary pressures and improved geopolitical sentiments. + + ORIENTAL CARBON & CHEMICALS LIMITED FQ1 2023";2;2 +VIMTA LABS LIMITED;2023-10-30;"Before Narahari takes you through +our numbers in detail, let me run you through the general economic landscape and more specifically on how our industry and business +have done during Q2. The global economy remains unsettled with persistent inflation, which is coupled with geopolitical disruption, +as we all know. These uncertainties have dampened the global consumer demand triggering a ripple effect across multiple industries.";1;1 +TAKEDA PHARMACEUTICAL COMPANY LIMITED;2022-05-11;"Soticlestat, a development for rare pediatric epilepsy disorders, has experienced a delay in the target filing date to +FY2024. This delay was due specifically to the geopolitical situation in the Ukraine and Russia, as well as COVID-19 +lockdowns in China. We are taking multiple, multiple approaches to enhancing clinical enrollment in order to minimize +delays and optimize global filing timelines.";3;3 +TAKEDA PHARMACEUTICAL COMPANY LIMITED;2022-05-11;"The previous timeline assumed filing an approval on a positive interim analysis, for which we remain hopeful but not +presumptive. In addition, the program has had global site challenges from the geopolitical situation in Ukraine and Russia, +COVID-19 lockdowns in China, and US enrollment challenges due to the approval of both EXKIVITY and amivantamab. + Going forward, we see great potential to further enrich our pipeline.";3;3 +KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2019-07-31;"This budget +agreement once signed in the law positions several large Kratos programs, including our drone business +to begin development, begin initial production or realize increased production, we believe positioning the +company for sustained significant future organic growth. + Additionally, as a result of the increasing geopolitical threat environment, we could see even higher +defense budgets in the future as indicated by the 5-year future years' defense program plan or FYDP, +which was recently released in March of this year. + Directly related to increasing defense budgets, the recapitalization of strategic weapon systems to address +peer and near peer threat is accelerating globally in Kratos' primary business areas of unmanned systems, +missile defense, hypersonics, space, microwave electronics and training systems are well positioned to +address the U.S. and our allies' mission-critical national security priorities and requirements.";2;2 +MASTERCARD INCORPORATED;2022-07-28;"Inflationary pressures have remained persistent, and we are now seeing central banks taking even +more aggressive steps to reduce inflation as we have seen with the Fed yesterday. + The situation has been compounded by geopolitical tensions and supply chain constraints, which have eased from +pandemic peaks but remain in many industries. Despite this, unemployment rates remain low, wages are rising and +consumer savings levels remain high.";1;1 +MASTERCARD INCORPORATED;2022-07-28;"We +are well positioned to capitalize on this growth with our travel-oriented portfolios. + As Michael mentioned, there are a number of macroeconomic factors that could influence future economic growth: +employment and wage levels, consumer savings levels, persistent and elevated inflation and rising interest rates and +geopolitical tensions in particular. We are monitoring each of these, but on balance, expect a modest improvement in +cross-border travel versus 2019 levels and a generally resilient consumer spending through the remainder of 2022.";1;1 +MASTERCARD INCORPORATED;2022-07-28;"David Mark Togut +Evercore ISI Institutional Equities, Research Division +Among your largest geographic regions, Europe continues to generate the greatest payment volume outperformance +versus our model. You underscored a number of geopolitical and economic risks for Europe. Going forward, especially +as we head into the winter, can you talk through Mastercard's growth algorithm, what that might look like in a significant +economic slowdown in Europe?";1;1 +TECAN GROUP AG;2022-03-15;"But clearly, I mean, as we all know, 2022 just started, a lot of dynamics around us, but maybe you hear +from my voice that we look at it positively. And we feel, particularly from the operational side, well covered as of course, +we can't kind of foresee any other macroeconomic or geopolitical events at this moment. + Christoph Gretler +Crédit Suisse AG, Research Division +Yes.";4;4 +JACOBS ENGINEERING GROUP INC.;2020-11-24;"Across all core sectors, our discrete solution sets are making progress, allowing us to cross-sell and leverage our global +market connectivity. While economic and geopolitical indicators point to continued volatility, we remain optimistic due to +our resilient and balanced portfolio across core sectors and geographies and our agility responding to shifting market +trends. + Now I'll turn the call over to Kevin to discuss our financial performance in more detail.";1;1 +LINDE AKTIENGESELLSCHAFT;2016-03-10;"This was particularly true in the emerging markets. In +addition, geopolitical tension, local troubled spots and low oil prices contributed to a market reluctance to +invest among other customers in the Engineering Division. + Even under these circumstances, we increased revenue by 5.3% to EUR 18 billion.";1;1 +KONGSBERG AUTOMOTIVE ASA;2022-05-13;"And these +are in particular the unexpected lockdown in economical important regions of China, which is for us as Kongsberg an +over-average profitable region; as well continuously high cost for semiconductors, which has impacted our Off-Highway +area strongly in Q1 and which apparently lasts longer into the year. So in addition, the industry as well, KOA as well +faces extended raw material and flexibility costs as general inflation costs combined with labor shortage driven by the +geopolitical situation. + Looking into the cash flow then.";3;3 +KONGSBERG AUTOMOTIVE ASA;2022-05-13;"It depends on further probably unexpected developments in this crisis situation. So what I'm talking about, the +extension of our lockdown in China or an extraordinary long time in the war could certainly influence here the geopolitical +situation but as well the consequently macroeconomic and as well the automotive area, again, including Kongsberg. + But nevertheless, looking into today, we would like to announce here our guidance for the full year 2022 on an expected +level when it comes to the revenue, between EUR 900 million and EUR 935 million and an adjusted EBIT in the range +of EUR 38 million to EUR 44 million.";1;3 +KONGSBERG AUTOMOTIVE ASA;2022-05-13;"But that's why we added here as well the disclaimer. As long as we don't have the crystal ball, we need to really +observe the market and the geopolitical trends. + Jakob Bronebakk +Director of Investor Relations + +KONGSBERG AUTOMOTIVE ASA FQ1 2022 EARNINGS CALL MAY 13, 2022";4;4 +KONGSBERG AUTOMOTIVE ASA;2022-05-13;"That was one of the topics. + And the second topic was that at this stage, we were just starting to see these geopolitical tensions and the start of the +Ukraine war. We saw a global downturn, which in an extent was, at that time, completely intransparent for each and +everybody.";1;1 +KONGSBERG AUTOMOTIVE ASA;2023-03-14;"2, let's say, implementation of raw material +price clauses in contracts, we had launch of benchmarking RFQs. We did resourcing, new shoring activities and sourcing on lower +costs, but we're looking as well to adjust our supply base towards the macro economical and geopolitical circumstances in order to +increase our independency and being more flexible and reacting more better in future on those crisis. + But summing it up, we see the energy price and inflation still ongoing.";3;3 +KONGSBERG AUTOMOTIVE ASA;2023-03-14;"So we found here for ready for execution, a quite good model. The other topic, what comes the second view or angle +view on this is certainly the geopolitical situation, which we need to consider here as well how we're keeping our, let's say, footprint +more stabilized and more independent and more preventive for every, let's say, geopolitical crisis. So both of these are forming our +new footprint strategy.";3;3 +MICRO FOCUS INTERNATIONAL PLC;2022-06-22;"Looking more broadly, it feels like a whole new world has emerged since we last spoke. The geopolitical uncertainty +created by Russia's invasion of Ukraine, the resulting impact on energy prices and global supply chains, combining to +slow growth and spike inflation, not to mention the dramatic collapse in tech valuations have made the market backdrop +clearly more complex or even unprecedented. + We are, of course, not immune to macroeconomic factors, particularly relating to costs and investment cycles, but I do +want to take a moment to draw out a few important points.";1;1 +INGERSOLL RAND INC.;2022-08-04;"Demand remains very strong as we sit here today. And when we see the supply chain risk and geopolitical and macroeconomic +uncertainties continue to be a concern, we stay focused on what we can control while leveraging our strong balance sheet and +operational mindset to deliver on our own 2022 commitments and beyond. + We also remain very agile in this environment, and you will see today how we continue to accelerate organic investments for growth +around innovation and demand generation.";1;1 +TECH MAHINDRA LIMITED;2017-05-26;"In terms of how +the strategy will eventually play out, I and the team continue to remain very, very confident about this +approach that we are taking to business. So from a short term standpoint, just to conclude, we are really +looking at countries, portfolio, type of services and the other geopolitical issues that we are looking at in +a few countries that we were presented, that we inherited, that we will be looking to exit over the next +couple of months as well besides whatever we have done so far. + Anantha Narayan +Crédit Suisse AG, Research Division +And just, Manoj, getting to my third question on the EBIDTA margins.";3;3 +SGS SA;2019-07-18;"We have all had the chance to read the release by now, so +we'll just focus on a few of them. + Consumer and Retail had a pleasing performance given the geopolitical backdrop. It continues to grow +strongly with 5.5% organic growth in the first half.";1;1 +AMBARELLA, INC.;2020-11-23;"Q3 revenue of $56.1 million was above the high-end of our original guidance range. CV led the way but we also faced +stronger than expected demand for video processors, despite the persistent geopolitical and public health risks. Gross +margin of 62.7% was above the high end of our long-term model for the second consecutive quarter, reflecting a favorable +customer mix and continued operational execution.";1;1 +AMBARELLA, INC.;2020-11-23;"I will now discuss the outlook for Q4 FY '21. Our visibility has improved, but we remain on guard for risks related to the +pandemic and geopolitical factors. Furthermore, as the semiconductor industry supply chain tightens, our operations +teams remain vigilant in their efforts to manage manufacturing lead-times and on-time deliveries.";1;1 +AMBARELLA, INC.;2020-11-23;"First of all, it sounds like you're assuming the video process business to be flat in +fiscal '22. Is that just because of CV cannibalizing or you're just being a bit conservative there, too, given the geopolitical +tension still? +Louis P. Gerhardy +Director of Corporate Development & Investor Relations +Yes. Well, go ahead.";4;4 +ASUSTEK COMPUTER INC.;2022-11-10;"Looking to slide number nine, our region mix. You can see that in Europe, the United States, and the Americas, because of various +issues, such as inflation, geopolitical issues, and lowering consumer confidence, the share for these two regions has gone down, but +the share of Asia, in particular, driven by Southeast Asia and India, has grown to 52%. + Looking to the next slide, which is our outlook for Q4 of 2022.";1;1 +MPC CONTAINER SHIPS ASA;2019-08-30;"Overall, the container shipping industry continues to endure macroeconomic uncertainty in Q2 and the full +of the first half of 2019, one prominent contributor of which being the unpredictability around the U.S.- +China trade tensions. Adding to this were other geopolitical impact factors such as the potential risk of a +global economic slowdown, all the impending IMO 2020 low sulphur regulations. Consequently, demand +forecasts for 2019 have been revised downwards in the course of the first half of 2019.";1;1 +JANUS HENDERSON GROUP PLC;2018-07-31;"Second, there is annual initiatives and projects that we choose to invest in. And in 2018, that's dominated +by a number of mandatory initiatives required to be compliant with the changing regulatory regimes, +along with geopolitical elements like Brexit. And third is the impact of FX rates, primarily sterling-dollar +and a standard level of inflation that impacts our revenues and expenses each year.";3;3 +KONTOOR BRANDS, INC.;2023-02-28;"Our team was with them +just this last week going through business plans and really laying out the assortment for the back half of the year. And we're going to +continue to invest in the brand and really monitor the geopolitical conditions that are out there. But we believe the long-term growth in +this really highly accretive region is there for us.";2;3 +FRANCO-NEVADA CORPORATION;2023-08-09;"As a result, the sharp fall in energy prices impacted our GEOs sold +generated by our energy assets, which were 28,683 for the quarter compared to 50,387 in Q2 2022. As you will recall, energy prices +saw a sharp increase in 2021 and 2022 due to many factors with the largest being geopolitical tension. + Slide 7 highlights our total revenue and adjusted EBITDA amounts for the 3 months ended June 30, 2023 and 2022.";1;3 +IQVIA HOLDINGS INC.;2022-10-26;"Thank you for joining us today to discuss our third quarter results. + IQVIA delivered another quarter of strong financial results despite market concerns about slowing demand, broader macroeconomic +challenges and the various global geopolitical issues. In fact, indicators of demand both from customers and in the market generally +remain healthy.";1;1 +SHEELA FOAM LIMITED;2022-05-13;"We invested money into a unit close to Mumbai and started producing. + There have been some, what I would say, starting up kind of hiccups, like shipping and availability of containers and then +the geopolitical situation changing, and therefore, the customer saying, let's put it to a little bit of a hold, then there is a +start and there is a stop, et cetera. + But I could just say that most of those things or the teething troubles are getting sorted out.";1;3 +TRICON CAPITAL GROUP INC.;2016-03-10;"It is something that we would like to +pursue, albeit more likely in the second half of this year. And our expectation is that spreads will tighten +a little bit as some of the kind of geopolitical overhang gets resolved and there's more stability in the U.S. +economy. So our target is to do something in the second half of this year.";1;1 +JFROG LTD.;2022-08-03;"We don't see that impact on the smaller deals. + Regarding the geopolitical question you had, what we see in EMEA is very similar to what we see in North America. + We don't see any kind of headwinds coming from the geopolitical situation in Ukraine.";4;4 +JFROG LTD.;2022-08-03;"Regarding the geopolitical question you had, what we see in EMEA is very similar to what we see in North America. + We don't see any kind of headwinds coming from the geopolitical situation in Ukraine. Actually, EMEA responds to +the economic changes as North America, as I mentioned before.";4;4 +ULTRA CLEAN HOLDINGS, INC.;2022-04-27;"We are +confident in our ability to navigate and adapt using the flexible operating protocols that have served us well since the +beginning of the pandemic. Broader macroeconomic and geopolitical instability continues to exasperate issues in an +already gradual supply chain. While we believe that China shutdown will be temporary in nature, we anticipate supply +chain challenges could persist for some time.";1;3 +ULTRA CLEAN HOLDINGS, INC.;2022-04-27;"Kinney Chin +Cowen and Company, LLC, Research Division +Perfect. And I guess just switching to other regions, Europe, in particular, just from a logistics standpoint, I mean I guess, +just given the geopolitical situation now in Eastern Europe. Are you seeing any impact to like your delivery schedules for +any customers out in Europe at this time?";4;3 +MAPFRE, S.A.;2023-02-09;"Now I will continue with the asset disclosure. The uncertain geopolitical and macroeconomic context, and +monetary policy obviously has affected the value of our investment portfolio as well as the pension and mutual funds, bringing assets +under management down by over 9%, you got at the bottom of the slide. Rate increases have been significant across regions, mainly +Spain, Italy, but also in the U.S. Spanish sovereign debt continues to be the largest exposure in our portfolio with nearly EUR 9 +billion, a larger share of these positions are, as you know, allocated to immunized portfolios, reducing our exposure to higher rates.";3;3 +PIPER SANDLER COMPANIES;2022-04-29;"Turning to Corporate financing. Market volatility, a drop in valuations and a more cautious investor outlook driven +by economic concerns and geopolitical risks have largely shut down the equity Capital Markets. After 2 years of +unprecedented activity, the pause was not unexpected.";1;1 +MOLTEN VENTURES PLC;2022-11-22;"And so therefore, European VC is still a very, very interesting space. + And we're still seeing a lot of activity, and we are still very confident that despite the -- some of the macroeconomic and some of the +geopolitical issues, that have affected the economies, the opportunity within European VC, we still think is both considerable and +exciting. As far as the tech businesses, and I know that there are a different -- a number of different ways you can view tech.";1;1 +MOLTEN VENTURES PLC;2022-11-22;"And clearly, our model is to make sure that we continue to stay in the market and that we continue to be able to identify those +potential winners. So as far as outlook goes, for the second half of the year, we don't see any dramatic change to the level of +uncertainty, macroeconomic factors, the geopolitical tensions that we're seeing across Europe, we don't think those are going to +change significantly before our year-end to 31st of March. + However, we would hope by the back of end of next calendar year, that we do start to see some improvement in the -- certainly the +stability of the environment.";1;1 +DOLLAR GENERAL CORPORATION;2022-03-17;"First, I want to remind everyone that our fiscal year 2022 includes a 53rd +week which will occur during the last period of the fourth quarter. We also continue to operate in a time of uncertainty +regarding, among other things, the impacts on the business arising from the current geopolitical conflict and the recovery +from the global COVID pandemic, including recovery of the U.S. economy, changes in consumer behavior, labor markets +and government stimulus and assistance programs. + Despite these uncertainties, including cost inflation, ongoing pressure in the supply chain and rising fuel costs, we are +pleased to provide annual guidance that reflects our confidence in the business.";1;1 +BRITVIC PLC;2022-11-23;"In terms of FY '24, honestly, really, who knows? I think what we have learned over the last 12 to 18 months is the supply shocks that +come either from geopolitical or other constraints across the global supply chain. And what we've just got used to doing is dealing +with those really effectively.";3;3 +AKAMAI TECHNOLOGIES, INC.;2022-08-09;"These forward-looking statements are subject to risks and uncertainties and involve a number of +factors that could cause actual results to differ materially from those expressed or implied by such statements. The factors +include any impact from macroeconomic trends, the integration of any acquisitions and any impact from geopolitical +developments. Additional information concerning these factors is contained in Akamai's filings with the SEC, including our +annual report on Form 10-K and quarterly reports on Form 10-Q.";1;1 +AKAMAI TECHNOLOGIES, INC.;2022-08-09;"No matter which competitor they've been working with, they chose Akamai because of our superior performance and +reliability. + Like many companies, we're managing through a time of substantial economic headwinds and uncertainty with escalating +inflation, the strengthening U.S. dollar, growing concerns about a global recession, escalating geopolitical tensions and +conflicts, and a slowing of Internet traffic growth as the world tries to return to normal in the midst of a pandemic. As Ed +will talk about shortly, I think it's prudent to assume that these headwinds will dampen our growth rates and profitability +over the next several quarters, particularly in our Delivery business, which is being impacted by the challenges that many +major media companies have recently reported.";1;1 +STOLT-NIELSEN LIMITED;2023-10-05;"You will hear more about this in the segment highlights. Of course, this is subject to any sudden, significant, or +unexpected economic or geopolitical changes. + Compared to our logistics peers, we are delivering an industry-leading performance that is, in my opinion, not at all reflected in our +comparably low PE or our stock price.";1;1 +CALIFORNIA RESOURCES CORPORATION;2017-05-04;"We are +off to strong start in 2017. The oil markets remain volatile in response to geopolitical and macroeconomic +factors. However, we continue to leverage our operational flexibility moving to offense for smart, value- +driven growth as well as the strength in our balance sheet.";3;1 +STOLT-NIELSEN LIMITED;2020-01-30;"So I am quite bullish for the segment. + Despite geopolitical and macroeconomic challenges, the outlook for long-term fundamental growth and +geographical expansion remains strong. + Stolt Sea Farm.";1;1 +NAYAX LTD.;2023-05-10;"This highlights the operating expense +leverage across sales and marketing, R&D and G&A. Should there be a recession or a geopolitical development that impacts our +business showing revenue growth below our planning assumptions for 2023 or beyond, we will, of course, adjust our spending plans. + Let me now discuss the impact of the macroeconomic environment as it pertains to the impact of the U.S. dollar in the first quarter.";3;3 +JAPAN TOBACCO INC.;2022-02-15;"Of +course, we have a strong market share with our GFBs. But our biggest focus at this moment when it comes to Ukraine, of +course, is the geopolitical situation and to make sure that our operation and our people are prepared in case there's any +developments that are unfavorable. + So our key focus at this moment is to make sure that if there's any developments on the geopolitical front, our people +will be safe, they will know how to handle themselves and where to go, and also that we have business continuity to the +extent possible.";3;3 +JAPAN TOBACCO INC.;2022-02-15;"But our biggest focus at this moment when it comes to Ukraine, of +course, is the geopolitical situation and to make sure that our operation and our people are prepared in case there's any +developments that are unfavorable. + So our key focus at this moment is to make sure that if there's any developments on the geopolitical front, our people +will be safe, they will know how to handle themselves and where to go, and also that we have business continuity to the +extent possible. So I think this is a key point I can mention at this stage about Ukraine.";3;1 +ALLISON TRANSMISSION HOLDINGS, INC.;2023-04-27;"The first delivery is expected in Q3 of 2024 with the U.S. Department -- Defense Department forecasting 55,000 +JLTV A1 and JLTV A2 vehicles over the next 2 decades. + Today, global defense spending is on the rise, driven by the Ukraine war, shifts in geopolitical dynamics and the U.S. Department of +Defense modernization priorities. Allison is poised to capture growth in this cycle by continuing our long-standing partnership with +the U.S. Department of Defense, while diversifying our revenue sources by increasing our international sales.";2;2 +ONTEX GROUP NV;2022-05-12;"We are taking the necessary measures to counter it +with continued savings efforts and repricing. + Meanwhile, triggered by the geopolitical situation, we see an additional rise in raw materials and operating costs, with the +main indices increasing by an additional 10% to 30% in the last month. We cannot predict how things will evolve as we +have included in our updated outlook and will price against that.";3;3 +ONTEX GROUP NV;2022-05-12;"Esther Berrozpe Galindo +Chief Executive Officer +So turning to the outlook for 2022. Clearly, the geopolitical environment in very uncertain, and the inflationary +macroeconomic situation with continued volatility in commodity and energy prices as well as supply chain disruption +means that visibility remains very low. Taking into consideration these factors, Ontex is currently reviewing the impact on +its midterm financial road map.";3;3 +ONTEX GROUP NV;2022-05-12;"So as I said, the market remains volatile and challenging. And then the geopolitical environment has worsened the +situation. We had -- we talked about 3 targets for the midterm.";1;1 +ONTEX GROUP NV;2022-05-12;"So thank you for your questions. And with the geopolitical and input cost environment, have created new challenges to +us. I do not want to lose sight of the performance of the team [ Ontex ] delivery, what we set out to do 12 months ago.";1;1 +DUFRY AG;2023-03-07;"CapEx came in at 1.6% of turnover, influenced by some lower spending. Please bear in mind that the first quarter, we still have +discussions around Omicron and also about geopolitical tension. Having said that, we have spent all the CapEx which is required from +an operational perspective in 2022, and there's no spillover effect into 2023 or beyond.";1;3 +ICHOR HOLDINGS, LTD.;2019-11-05;"Jeffrey S. Andreson +President +Well, there is a lot of different ways to go about trying to answer that question. And a lot of it is tied to +the different geopolitical trade wars and whatever is going on. Then to the extent that countries tried +to prioritize their internal manufacturing.";3;3 +TITAN MEDICAL INC.;2022-08-11;"We will continue to carefully monitor and execute on our project plan. Additionally, we are monitoring economic and +geopolitical factors, including the ongoing Ukraine-Russia conflict, market instability, COVID variants, supply chain issues +and a tightening labor market, trying to anticipate and mitigate risk and impact where we are able. + We will continue to grow our intellectual property portfolio, our knowledge and experience and our talented team to +strengthen the company and promote our position within the industry.";3;1 +KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2022-08-04;"Kratos is ready now with active production lines and in-place supply chain, +flying aircraft and known price points. We believe that Kratos is being ready now positioning and affordability, along with +recent global geopolitical events, demonstrating that the threat is real and that quantities do matter in a high-end conflict +will be a catalyst for us. + Additionally, over the past several weeks, it has become clear based on publicly available information and our meetings +with customers that runway independence is an absolute critical requirement for affordable, reusable, disposable and +attritable drones.";2;2 +KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2022-08-04;"And we've all been patient. We've +waited a long time, but we're doing everything we can to pull some of these in now that the geopolitical position has +changed. That's where our focus is primarily.";3;3 +AYR WELLNESS INC.;2022-05-26;"Our Board and +management team regularly evaluate ways to optimize our balance sheet, and we see these financings as excellent +sources of value to our company and our shareholders. Particularly given the recent geopolitical uncertainties and +the volatility in the broader capital markets with cannabis equity valuations impacted, we remain focused on financial +discipline and maintaining a significant cash position. We will continue to focus on optimizing our balance sheet, including +efficiency in our cost structure and capital deployment.";1;3 +AMERICAN HOMES 4 RENT;2022-02-25;"But the other great value of them is, as we know, there's a lot of volatility to the public markets at large. We're seeing it +right now, obviously, from a geopolitical standpoint and having access to really high-quality long-term forms of capital in +the form of our JVs. I think it's very comforting and valuable from a longer-term perspective.";1;1 +MOOG INC.;2022-11-04;"First, it was a year in which the world order was redefined for +generation [indiscernible]. The Russian invasion of Ukraine in February changed the geopolitical landscape in Europe for decades. + In Asia, escalating tensions over Taiwan and the consolidation of power in China under Xi Jinping further erodes the relationship with +the U.S. Combined, these events have redefined the global political landscape into an east-west divide, Déjà vu for those of us over +40.";3;4 +MOOG INC.;2022-11-04;"While these global events are not necessarily positive for humanity, higher defense spending in the West represents a longer- +term tailwind for our business. + Second, despite the geopolitical uncertainty, it was a good year for the company overall. Our adjusted year-end results met the +guidance we provided to the Street 12 months ago in terms of sales, margins and EPS.";2;2 +CARDINAL HEALTH, INC.;2023-05-04;"We expected a little bit of an improvement +across the board, and we just haven't seen anything more than that outside of international freight. We do have some categories that +are just staying very high like nonwovens, where there's a bit of a geopolitical impact on those types of costs and not just on raw input +costs. + And so that is something that may or may not change in the future.";1;3 +ELRINGKLINGER AG;2019-08-07;"As we have already discussed +the main issues of the OE business above, I will now focus on the remaining segments. In regard to +Aftermarket, geopolitical tensions in key sales markets such as North Africa, resulted in a slight decline +in Q2 sales. Revenues stood at EUR 41 million and furthermore we made progress in tapping into the +Aftermarket business in Asia and North America.";1;3 +HÖEGH LNG PARTNERS LP;2022-08-24;"As you can see, the global LNG demand +growth is projected to remain robust mainly driven by Europe and the Asian region. In the current geopolitical situation, +European countries will determine to secure both LNG and LNG import capacity to safeguard energy supply and shift +away from Russian pipeline gas. + This has led to an increase in demand for FSRUs import facilities from countries such as Germany, the Netherlands, Italy, +Poland, Finland and others, typically looking to secure large capacity FSRUs with prompt delivery.";2;2 +HINDALCO INDUSTRIES LIMITED;2018-11-02;"Let's now look at the broader economic environment on Slide 8. Overall, global economic activity +continues to remain strong despite challenges from surging crude oil prices, geopolitical uncertainties and +continuing trade tension among major economies. The U.S. economy performed strongly in Q3 CY '18 on +the back of strong consumer and government spending.";1;1 +HINDALCO INDUSTRIES LIMITED;2018-11-02;"Therefore, the IMS has downward-revised +its global economic forecast to 2.7% for CY '18 compared to 3.9% reported earlier. The occurrence of +unfavorable trade conditions and geopolitical issues are posing risks to global economic growth. + On the domestic front, economic growth continues to accelerate in the current financial year.";1;1 +HINDALCO INDUSTRIES LIMITED;2018-11-02;"The RBI has maintained the +growth forecast at 7.4% for FY '19. However, depreciating rupee, inflationary pressure, elevated crude oil +prices and geopolitical tensions are the risk factors for the domestic growth. + + HINDALCO INDUSTRIES LIMITED FQ2 2019 EARNINGS CALL NOV 02, 2018";1;1 +OPEN LENDING CORPORATION;2022-08-04;"But yes, definitely a lot of inputs here in as we work through it from +a bottoms-up perspective. And I just kind of like to point to maybe just 3 real big drivers that went into our input is the +geopolitical environment has changed notably since we were last on the phone and the war in Ukraine has disrupted the +energy sector. Oil prices are at highs and gas prices.";1;3 +THE HONEST COMPANY, INC.;2022-03-24;"I'll let Kelly also feedback on it. I think first and foremost, as you look at +the world and where it sits today versus from when we did the IPO, not only the geopolitical challenges, the supply chains, +the input costs headwinds as well as how consumer behavior continues to shift, we think it's super important that from a +visibility perspective that each of you, our investors, have clarity around our plans, and we are going to err on the side of +being more conservative. I think it's prudent.";1;1 +ATOMERA INCORPORATED;2021-10-28;"The total IC market is forecast to grow 24% this year alone, so our +customers have built up significant cash war chests to invest in their future. Semiconductor industry is also being affected +by geopolitical forces like never before. U.S.-China trade tensions are driving governments around the world to look at +building or shoring up self-sufficient semiconductor infrastructure to enhance their own security.";3;3 +HYZON MOTORS INC.;2022-05-06;"After +backing out the onetime charges as well as noncash items primarily related to the change in fair value of the earnout +liability, equity securities, private placement warrant liabilities as well as stock-based compensation and legal fees +incurred in connection with the short seller report. For Hyzon's 2022 business outlook, we are actively monitoring impacts +due to the Shanghai COVID lockdown, geopolitical uncertainties, disrupting supply chains globally. We will provide an +update in the second half of the year as we gain more visibility as it relates to deliveries.";1;3 +CANADIAN UTILITIES LIMITED;2022-10-27;"And looking specifically at the situation here in Alberta, it's important to +recognize that transmission and distribution charges are just 2 of the many charts that make up a customer's utility bill. + First, the commodity prices rose sharply in the face of the global supply chain pressures and rising geopolitical tensions and more than +doubling since last year. Using an average customers' gas bill, as an example, these commodity costs can account for more than 40% +of the total utility bill.";4;3 +BOSSARD HOLDING AG;2022-07-21;"This means we'll face rather high price levels for our products also in +the second half of 2022. + Another challenge is the geopolitical tensions in Europe. Overall, it may impact the European and global economy due +to war scenarios or energy shortages.";1;1 +BOSSARD HOLDING AG;2022-07-21;"This plays into our hands as mentioned before. The geopolitical tensions may amplify the supply chain challenges +mentioned above, which we address with our supplier risk mitigation strategy, buying key products from multiple regions +and manufacturers. The Chinese COVID policy may lead to further lockdowns in the country.";3;3 +VALERO ENERGY CORPORATION;2019-10-24;"We're pleased to report that we delivered solid financial +results despite challenging market conditions again this quarter. Although gasoline cracks held steady +and diesel cracks improved from the previous quarter, heavy and medium sour crude oil discounts to +Brent crude oil remained narrow as supply was constrained by geopolitical events. Also, the startup of +new pipelines from the Permian Basin to the Gulf Coast tightened the WTI Midland to Cushing crude oil +differential.";1;1 +DANA GAS PJSC;2020-02-12;"We delivered both increased production and increased earnings, and 2019 saw us post our highest annual +profit in over 7 years. I would emphasize that this positive performance was delivered in the face of +the geopolitical challenges in our key operating regions, that everyone on this call already being all too +familiar with as well as the economic headwinds, notably, lower energy prices. Despite these challenges, +we were still able to execute successfully on our goals for the year.";1;1 +MILLERKNOLL, INC.;2023-12-20;"By leveraging the synergies across our collective and +focusing on what is within our control, the team drove year-over-year margin improvement in all three areas of our business, again. + And while we face relative high interest rates and geopolitical concerns, positive signs are emerging throughout our industry. Metrics +such as project funnel activity, order intake and recent measures of dealer optimism reflects that CEO confidence is improving.";1;1 +MILLERKNOLL, INC.;2023-12-20;"As we mentioned in the press release, this marks the fourth consecutive quarter of consolidated year-over-year adjusted gross margin +expansion. Notably, these results were achieved in an environment largely affected by high interest rates and geopolitical concerns, +both of which influenced the housing market as well as sentiment measures. Our second quarter results reinforced themes that we've +communicated over the past several quarters, namely the impact of strategic pricing initiatives, ongoing benefits of acquisition-related +synergies, our focus on improved working capital management and product and regional mix optimization.";1;1 +FRANCO-NEVADA CORPORATION;2023-08-09;"As a result, the sharp fall in energy prices impacted our GEOs sold +generated by our energy assets, which were 28,683 for the quarter compared to 50,387 in Q2 2022. As you will recall, energy prices +saw a sharp increase in 2021 and 2022 due to many factors with the largest being geopolitical tension. + Slide 7 highlights our total revenue and adjusted EBITDA amounts for the 3 months ended June 30, 2023 and 2022.";1;3 +CONTEXTLOGIC INC.;2022-11-09;"As a +reference point, our estimated revenues in October 2022, the first month of Q4 is expected to be flat or slightly down when compared +to our revenues in July 2022, the first month of Q3. As the global economy continues to experience uncertainty due to geopolitical +risks, high inflation and interest rate hikes, we will remain focused on operational efficiency and unit economics. Built upon the much +strengthened with foundation and with a strong sense of urgency.";1;1 +NEX GROUP PLC;2017-11-20;"So I haven't got much choice, actually. And Sam has kindly covered the numbers for me and +Michael gave you a bit of the geopolitical backdrop. So I'm going to focus on giving you a snapshot of the +business and give you some feel for what you can expect in the months and years to come.";4;4 +NEX GROUP PLC;2017-11-20;"In the fixed-income business, our BrokerTec team, who've managed to improve market share +in U.S. Treasury benchmarks yet again, and we are now averaging around 82% market share in, what is +by far the world's biggest government bond market and our U.S. repo business has also seeing improved +volumes year-on-year, but is now a EU Repo business which has really performed spectacularly over the +last 6 months. This is as a result of not only increased automation and electrification of that business, +even in the turn business, but also we've had a few geopolitical issues in Europe including for example, +the referendum in Catalonia, but the bottom line is, this is testament to the fact that BrokerTec is now +considered to be the really trusted source of liquidity for traders in those markets and they really -- they +rely on us, both in times of stress and for their daily workflow. + In our foreign exchange business, other than what I mentioned to you with regards to EBS market and +our core currency pairs, we continue to see growth in Asian currency pairs, and specifically in NDS with +more than 25% year-on-year growth.";1;1 +CABOT CORPORATION;2022-11-08;"We delivered record financial performance, achieved breakout growth in battery +materials, advanced a range of strategic initiatives, including the divestiture of Purification Solutions and further our leadership in +ESG performance. All of this was accomplished despite a turbulent macroeconomic and geopolitical environment. I am immensely +proud of the Cabot team for the resilience and adaptability they demonstrated throughout the year, and for their focus on execution and +support of our customers.";1;1 +MFA FINANCIAL, INC.;2023-02-23;"As breathtakingly bad as 2022 was for fixed income and mortgage participants, it was not a total surprise to us at MSA. On our fourth +quarter 2021 earnings call a year ago, I stated that we expected ongoing rate volatility with inflation ranging at the time, the Fed on the +move and a tense geopolitical environment. For our first quarter 2022 earnings call, I remarked how similar 2022 felt to 1994 when +the Fed raised rates 6x for a total of 250 basis points.";1;1 +HENKEL AG & CO. KGAA;2019-08-13;"In this +market context, Adhesive Technologies has delivered a robust performance. Despite top line pressures, +we have been able to improve profitability in a challenging market environment and with geopolitical and +economic risk high, we remained focused on leveraging the strength of our portfolio and business model, +and we continue to proactively manage through this industrial cycle. + Beauty Care retail was significantly below our expectations.";1;1 +HENKEL AG & CO. KGAA;2019-08-13;"Other than originally anticipated by most market participants, the +outlook for the full year further softened. While back in May, recovery of industrial production in the +second half was widely expected, this is not anymore the case mainly due to continuously high geopolitical +and economic risks. Here, the persisting trade tensions are particularly unhelpful.";1;1 +AMERICAN HOTEL INCOME PROPERTIES REIT LP;2022-05-11;"Q1 improvements to the top line were accompanied by inflationary cost pressures. The impact of geopolitical events on +commodity prices, as well as the enduring effects of COVID disruptions on the labor markets and supply chain, impacted +operating margins. Q1 is always a quarter which is our most challenging from a seasonality perspective.";1;3 +KESKO OYJ;2023-07-27;"On the other hand, employment is high and there is a shortage of skilled labor. The whole energy market has faced +a transformation and not to forget Russia's offense war in Ukraine and geopolitical tensions. + The importance of good strategy growth in a challenging market.";1;1 +ARCH CAPITAL GROUP LTD.;2022-07-28;"I think +that the uncertainty about the social inflation and what it could mean. + And also other geopolitical risk, there's a lot of stuff going on in the world. I would expect this to continue well into 2023, +but I've been wrong before.";1;1 +CENTURY TEXTILES AND INDUSTRIES LIMITED;2023-10-20;"We have won Society of Energy Engineers and Managers, SEEM's GOLD award successfully third time in row, this is about +improving energy efficiency by any manufacturing facility. + Considering the constantly changing market dynamics against the backdrop of ongoing geopolitical crisis, we have shifted our focus +for maximizing productivity to optimizing cash flow, which involves closely monitoring our working capital and inventories. We +are developing new sustainable products by utilizing our dedicated state-of-the-art and R&D facility, design and supply chain.";3;1 +DR. REDDY'S LABORATORIES LIMITED;2022-01-28;"Some of the prices did not go down yet to the original level, but I don't anticipate +additional inflation in that moment... +Damayanti Kerai +HSBC, Research Division +Very broadly, we can assume that the peak is over and price might see, I'll say, more moderation from here on? +Erez Israeli +CEO & Member of the Management Council +As much as 1 can predict it looks better now. Hard to predict with the pandemic and the geopolitical situation in the world, +there are so many more other big event, which would be... +Damayanti Kerai +HSBC, Research Division +And my second question is, can you talk a bit about your biosimilar portfolio, which you are working on? And which are +your target markets for key products? + +DR.";1;1 +DR. REDDY'S LABORATORIES LIMITED;2022-01-28;"Sir, the second question is on the Russia, Ukraine business. Given the geopolitical situation, +what's your read of the situation? Have you seen any disruption or any problem in a business that you are doing over +there?";1;1 +SOGEFI S.P.A. FY NINE MONTHS;2023-10-23;"I would say we need to wait to see if there will be any impact on the material cost. The current energy, +let's say, increases are a bit too early to say if it's recurring or just some reaction of the market to geopolitical tensions in the world. I +don't see irrational or a big increase of material costs next year for steel, I don't see, except if there is a big boom on energy.";1;3 +ROGERS CORPORATION;2019-10-30;"These challenges are continuing into Q4 with recent economic data pointing to +declining factory activity, lower industrial output and falling auto sales. In addition, the geopolitical tensions between China +and the U.S. which have resulted in trade restrictions on sales to Huawei, are impacting 5G demand. While Rogers is +able to continue sales to our direct fabricator customers, there is uncertainty regarding Huawei's ability to maintain 5G +deployments without certain U.S. components and whether the performance of its alternative base station design will be +acceptable.";3;3 +BERGEN CARBON SOLUTIONS AS;2022-11-09;"We are working towards material suppliers, industry-leading companies and national +authorities to place Bergen Carbon Solutions on the industrial map and secure political attention. + The development in the geopolitical situation with -- following disruptions in supply chains has made it more and more obvious that +there is a need for Europe to become more self-sufficient when it comes to critical raw materials. This is a megatrend that works in our +favor.";2;2 +BERGEN CARBON SOLUTIONS AS;2022-11-09;"We have several exciting projects going on, for example, Project C, +where we are investigating how we can use our technology to mass produce graphite from CO2. This is really exciting because it can +enable us to utilize substantial amounts of CO2 while contributing to solve the geopolitical challenges in the raw material supply. + Our main focus area is still in the battery sector.";2;2 +BERGEN CARBON SOLUTIONS AS;2022-11-09;"And we have recently launched our Project C with the intention of investigating our ability to produce anode graphite directly from +the CO2 emissions. Overall, meaning that by implementing our technology in the European battery value chain, we can help sorting +out the geopolitical situation and reduce the European addiction for raw materials from, for instance, China. + And this is why we have launched our newest project, Project C. With Project C, we are aiming to investigate our ability to produce +large volumes of graphite to support the European energy transition towards 2030.";2;2 +GJENSIDIGE FORSIKRING ASA;2022-07-15;"Good morning and welcome, everyone. Since our last earnings call, global economic uncertainty and +market turbulence have reached new highs, fueled by persistent geopolitical risks and higher inflation. All of the Nordics +are not immune.";1;1 +LIBERTY OILFIELD SERVICES INC.;2022-04-21;"North America oil and gas are critical in the +coming years. Tight oil and natural gas markets, coupled with geopolitical tensions in many key oil and gas producing +regions have all eyes on North American supply. + The North American economy is proving more resilient to today's global challenges in significant part due to a secure +local supply of price advantage natural gas.";1;1 +SHAWCOR LTD.;2023-05-12;"Our simplified portfolio of high-value materials-based products +has limited exposure to consumer discretionary spending and we believe has resilience in the face of recessionary forces. + While we remain vigilant towards the potential impacts of geopolitical events, supply chain risks and higher interest rates, we also +remain confident our momentum will continue. We expect adjusted EBITDA in the second quarter of 2023 to approach the levels +achieved in the first quarter before rising very substantially in the second half of the year, driven by continued Composite Systems +growth and significant pipe coating activity, including elevated margin contributions from the Southeast Gateway Pipeline project.";1;1 +ETTEPLAN OYJ;2023-02-17;"Of course, the uncertainty is also high, and it was high throughout the year due +to the war. And there were also geopolitical tensions that had impacts, for example, in China on our business. + Then on the positive side, if there were on the consumer-driven businesses, there were negative signs to the demand.";3;3 +ETTEPLAN OYJ;2023-02-17;"Impacts were +slightly higher, but still relatively similar impacts. And in China, of course, the geopolitical tensions did have an impact on the overall +demand. And then in China, where the COVID pandemic was still existing during last year, so in the beginning of the year, there were +restrictions that stopped certain activities which had an impact in the second quarter.";3;3 +SAIPEM SPA;2019-02-28;"The harsh environment of offshore drilling market is +already showing signals of vitality, and demand in the Middle East remains good, but also competition is still tough. The +international onshore drilling market is expected to gradually recover with Latin America dynamics, depending on the +evolution of geopolitical issues. In the Middle East, demand remains significant, but competition, too.";3;3 +SUMCO CORPORATION;2022-08-04;"This time around, the only way to increase production capacity is with greenfield expansion. This has coincided with +the emergence of geopolitical developments such as the invasion of Ukraine by Russia or the intensifying trade friction +between the U.S. and China, which has led to longer lead times for many items or longer delivery times. + For example, even if we want to ramp up new equipment, it may not be possible for the supplier to send staff to provide +on-site support.";3;3 +SUMCO CORPORATION;2022-08-04;"However, now, expanding production capacity can only be done with greenfield +investments, so it will take time for the capacity to come online. This is being exacerbated by the surge in geopolitical risks +as well as the ongoing pandemic impact. + + SUMCO CORPORATION FQ2 2022 EARNINGS CALL AUG 04, 2022";3;3 +SUMCO CORPORATION;2022-08-04;"I have one question. You have talked about geopolitical risk. If the U.S. were to block +sales of SPE to China, then I believe that semiconductor production in China would grind to a halt, which would lead to a +shortage in devices.";3;3 +BEACON ROOFING SUPPLY, INC.;2022-05-05;"We expect end market demand remain strong even +as headwinds such as inflationary pressures, supply chain disruption and labor, and material shortages persist. Overall +macro indicators are mixed, and we will keep a watchful eye on economic and geopolitical developments. Residential +roofing demand and the residential-exposed areas within our complementary products will continue to benefit from R&R, +and new construction market tailwinds.";1;1 +BEACON ROOFING SUPPLY, INC.;2022-05-05;"The rising trend in activity we saw begin +several quarters ago is expected to continue. + The architectural billing index and overall sentiment remains positive watchful eye on economic and geopolitical +developments. Residential roofing demand and the residential exposed areas within our complementary products will +continue to benefit from R&R and new construction market tailwinds.";1;1 +FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"[indiscernible] provided guidance of 3% to 5% growth for 2023. + The defense market is government-funded and appears well supported in the near term due to increased geopolitical tensions across +the globe. Looking at the longer term, Boeing's most recent 20-year forecast shows long-term industry growth, and it continued to +show 40% of all new aircraft deliveries going to Asia as has been the case in the recent forecast.";2;2 +FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"This is a onetime event and will benefit our Q1 2023 income and further strengthen our +balance sheet. With the more complex geopolitical situation in China, I'm sure there are questions [indiscernible] about our activities +there. In 2022, both our operations in China had their best sales year ever, and both were profitable.";1;1 +FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"Also in +2022, the C919 aircraft development program achieved CAAC certification and we are finally in a position to see production orders +after 10 years of development. This will benefit our China operations going forward and make them less susceptible to geopolitical +uncertainties. But notwithstanding all this good news, we are being cautious about our operations in China, and any further increase in +tension between China and other countries could impact our operations there in the future.";3;3 +CONCORDIA MARITIME AB;2022-08-17;"So the X factors, or the black swans that we need to keep an eye on. Obviously, geopolitical +instabilities with Ukraine, with Taiwan, and how that affects Western energy policy, sanctions and trade flows going +forward. We have the global economic situation and how much this will actually affect demand side.";1;3 +MITHRA PHARMACEUTICALS SA;2022-03-08;"Here at Mithra, as you +know, women's health is really the heart of our concerns and our business. Before starting with the highlights of last year, +I would like to give a short comment about the geopolitical situation in Eastern Europe and the potential impact on our +company. + As you know, we had foreseen the launch of Estelle in Russia in the third quarter of this year.";3;3 +ENEA AB;2020-01-30;"Jan Häglund +President & CEO +Thank you, Simon. Yes, we have previously commented on the fact that geopolitical uncertainties create +potential delays on the market. And I think uncertainty and delay is not good for anyone.";1;1 +ANDRITZ AG;2022-04-29;"Daniel Lion +Erste Group Bank AG, Research Division +Do you see any changes in CapEx patterns, especially related to the energy-intensive industries you're supplying through +Pulp & Paper in the end? Given the geopolitical tensions now related to energy and since potential risks to being short of +energy going forward, is there any change in investment patterns that you might see? + Joachim Schönbeck +President, CEO & Member of the Executive Board";3;3 +BLACKROCK TCP CAPITAL CORP.;2020-02-26;"However, we think domestic +political uncertainty including the pending 2020 presidential election could weigh on business investment +decision-making and long-term capital expenditure planning. In addition, geopolitical volatility and other +disruptions like the coronavirus continue to create uncertainty. + While the economic outlook may be uncertain, our team is focused on delivering the results our +shareholders have come to expect from TCPC.";3;3 +UBS GROUP AG;2020-07-21;"Operator +The next question is from Kian Abouhossein from JPMorgan. + Kian Abouhossein +JPMorgan Chase & Co, Research Division +The first question is about geopolitical issues, clearly, Hong Kong and China. If you can just comment how uncertainty and +other issues, clearly, they are affecting your business.";3;3 +UBS GROUP AG;2020-07-21;"And I expect that really good collaboration to continue going forward as well to help both +businesses. + Sergio P. Ermotti +Group CEO & Chairman of Group Executive Board +So Kian, on geopolitical uncertainties, I have to say that in the last few weeks, we haven't really seen any major impact on +client activity per se. I would say that we are monitoring the situation carefully as clients are doing the same.";4;4 +UBS GROUP AG;2020-07-21;"So I'm not overly concerned +about that. + If I look also in the second half of the year, one has to also look at those geopolitical tensions, both in Asia, but also +in the U.S. As I mentioned before, if you think about 61% of the investor telling you that they will change their asset +allocation, regardless of the outcome of the elections, makes me comfortable that there is an element of transaction +activity and business that will likely to happen in the second half of the year.";3;3 +ATOS SE;2017-07-26;"So this is an answer to +your potential concern. If we had, let's say, a geopolitical problem in this region it will not impact us and +we will be able to cope with other GBUs. But regarding the solidity of our business, we'll continue to grow +quarter-after-quarter, and that's a very solid one.";1;1 +KIRKLAND'S, INC.;2022-05-31;"Like many of our +peers, our first quarter results were significantly impacted by lower customer demand and higher costs associated with +various supply chain constraints. Anyone who has been paying attention to the consumer commentary over the last few +weeks knows that the broader retail landscape is being notably affected by several concerning macroeconomic trends, +including rising interest rates, elevated levels of inflation, the ongoing geopolitical conflict between Russia and Ukraine +and increased supply chain costs stemming from higher freight costs and transportation rates. + Kirkland's is not immune to these issues.";1;1 +NOF CORPORATION;2022-11-18;"In Japan, as socioeconomic activities continued to normalize, there were signs of a pickup in consumer spending, capital investment +production activities, and other areas. Although the Group continued to face concerns over global raw material price hikes, +semiconductor supply shortages, the Ukraine crisis, and other geopolitical risks, overall domestic and overseas demand remained +strong, resulting in consolidated net sales, consolidated operating income, consolidated ordinary income, and net income attributable +to owners of the parent all exceeding those for the same period of the previous year. + In H2, as we move into a new phase of living with COVID-19, which will further strengthen the balance between infectious disease +control and socioeconomic activities, we will continue to closely monitor risks such as semiconductor supply shortages, rising raw +material and fuel prices, and a downturn in overseas demand, while expecting a normalization of economic activities.";1;1 +NOF CORPORATION;2022-11-18;"I will answer the question. + First of all, the main reasons for the decline in sales increase/decrease are the ongoing geopolitical risks from the recent invasion +of Ukraine by Russia, supply chain instability, and semiconductor supply shortages. These are still partially out there.";3;3 +CELSIA S.A. E.S.P.;2023-05-10;"Unknown Executive +Yes, when we do it. We do it by the increase that due to geopolitical factors. We had -- there was an adjustment in the CPI.";4;4 +AGREE REALTY CORPORATION;2023-05-05;"On earlier calls, I stressed that we would avoid moving up the risk curve or shifting +our strategy. We have been very successful leveraging our relationships and core competencies to identify extremely high-quality +opportunities as economic and geopolitical uncertainties remain. + During the first quarter, we invested over $314 million in 95 high-quality retail net lease properties across our 3 external growth +platforms.";2;2 +JOHNSON MATTHEY PLC;2022-05-26;"And in terms of phasing, we are following an exceptionally strong first +half last year so our year-on-year performance will be significantly weighted towards the second half. + Longer term, the current geopolitical situation is likely to drive significant acceleration towards a net zero carbon economy, +which will position us really well for long-term growth. So in summary, we've delivered a robust performance in challenging +market conditions.";2;2 +BOSTON PROPERTIES, INC.;2019-07-31;"As a result, central banks around the world are turning accommodative. There are +also geopolitical risks including a U.S. trade war with China, no-deal Brexit and tensions in the Middle East. + Lastly, in the U.S., growth has become more narrow and consumer reliant and corporate earnings are also down modestly +in 2019.";1;1 +NEW YORK MORTGAGE TRUST, INC.;2017-11-03;"The company, like everyone else, will continue to diligently +monitor the activities in Washington, including the new tax proposals just released yesterday. + The impact from the newly announced Fed Chairman, which was also released yesterday as well as other +geopolitical events that seem to be never-ending in -- both in our country and around the world. We +continue to believe that our portfolio is well positioned to adapt to these changing markets and economic +environments and look forward to speaking to you in the future.";1;1 +ADVANCED ENZYME TECHNOLOGIES LIMITED;2023-11-10;"The economic landscape remain volatile, plus inflation across the globe continues to challenge economic +stability in various parts of the globe. The geopolitical situation also could have some impact on crude prices, increased interest rates +and cautious spending by customers amidst global geopolitical tensions. Specialty chemical industry is experiencing a slowdown on +account of the sluggish export demand in some of the geographies like U.S., Europe and Lat Am.";1;1 +PARK HOTELS & RESORTS INC.;2018-11-02;"And then one more on the asset recycling topic, if I may. How has inbound interest from +overseas buyers been trending, given the strength of the dollar and geopolitical noise and the like? And +then maybe you could just talk about what you're seeing in the major buckets of buyer types out there +right now?";4;4 +ALTAGAS LTD.;2022-03-04;"The unfortunate events that have been unfolding in Eastern Europe +illuminate the critical value of energy independence and diversity. These events are already producing far-reaching +geopolitical implications regarding energy security. + Germany recently announced plans to further diversify its energy supply with the recent announcement of planned +additions for 2 new LNG terminals, as well as numerous discussions by foreign countries related to the investment and +long-term contracting of diverse energy supply.";1;2 +ALTAGAS LTD.;2022-03-04;"Your first question comes from Linda Ezergailis of TD Securities. + Linda Ezergailis +TD Securities Equity Research +Just wondering, beyond the broad industry implications on recent unfortunate geopolitical events and the clear value of +Western Canadian and North American energy security and supply, how are you thinking about maybe the implications +that might have on AltaGas' strategy? And maybe any specific operational potential impacts beyond constructive demand +fundamentals? +Randall L. Crawford +President, CEO & Non-Independent Director +Linda, this is Randy.";4;4 +ALTAGAS LTD.;2022-03-04;"Thank you for the question. Specifically, on the geopolitical unrest and the impact on AltaGas, +specifically, I would say there's not an impact overall. But as I said in my prepared remarks, we're seeing a lot of interest +from foreign markets that are interested in controlling their destiny around energy.";3;2 +ALTAGAS LTD.;2022-03-04;"Linda, so we are seeing an increased response in some of the supply basins that we, of course, access. + And that's primarily driven, as you alluded to, to the geopolitical events. We're also seeing an increased focus on those +producers responding to an increase in the climate initiatives.";3;3 +ALTAGAS LTD.;2022-03-04;"spglobal.com/marketintelligence +14 +Operator +Your next question comes from Ben Pham of BMO. +Benjamin Pham +BMO Capital Markets Equity Research +I wanted to start with your comments around derisking your business over time. And I'm wondering to your comments +around the geopolitical risk and pipe supply commodity prices rising. Has -- is that enough or has that changed your view +on maybe the pace at which you're looking to derisk or hedge your business over time or is it's status quo from before?";3;3 +LIBERTY MUTUAL HOLDING COMPANY INC.;2022-02-24;"And I think that's where the closure of courts and some of the uncertainty still lingering +post COVID continues to drive that uncertainty. + What I would also say is that we do think that the geopolitical shifts that we're seeing occurring right in front of our eyes, +as we look at today, continue to drive this focus around the uncertainty underlying these loss cost trends. So that's broadly +what I would say to you.";3;1 +LIBERTY MUTUAL HOLDING COMPANY INC.;2022-02-24;"That's helpful. Speaking about the geopolitical issue, with some of your specialty lines or maybe looking at the Lloyd's +businesses, is there exposure to that region, the Russia-Ukraine region? Is there any, or do most policies exclude war +damage and so forth?";4;3 +HONEYWELL INTERNATIONAL INC.;2023-02-02;"Now with that, I'll turn the call back over to Darius on Slide 10. +Darius E. Adamczyk +Chairman of the Board & CEO +2022 was another year of both challenges and progress for Honeywell. Despite another host of macroeconomic and geopolitical +difficulties, we attacked the challenges we faced head on. We overdelivered on our financial commitments.";1;1 +CAZOO GROUP LTD;2023-10-25;"We now expect to finish +the year with between GBP 100 million and GBP 115 million of cash and cash equivalents, and between GBP 20 million and GBP 30 +million of self-finance inventory. + Higher interest rates, high used car prices, rising insurance premiums and the recent spikes in fuel prices, driven by geopolitical +conflicts means higher cost of car ownership to customers. Demand for used cars will remain volatile.";1;3 +MARICO LIMITED;2022-11-04;"If you could kind of give some comments on that, +please? +Saugata Gupta +MD, CEO & Executive Director + So I think when we gave that comment, we expected that the global geopolitical and the situation will have a solution, that solution +hasn't happened. We continue to experience that inflation.";1;3 +NORWEGIAN ENERGY COMPANY ASA;2022-05-10;"A significant +underinvestment in gas supply for almost a decade was one of the main drivers at a time. And for the past 2.5 months, a +devastating backdrop has added significant geopolitical strain on the energy balance in Europe. + Energy security is critical.";3;3 \ No newline at end of file