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Note e foto di accompagnamento per la passeggiata del Club del territorio di Roma (Touring Club), da Piazza del Popolo a Piazza Barberini. Focus su inglesi, tedeschi e russi. Non è, se non in minima parte, un lavoro "originale" ma una compilazione di testi, editati per convenienza, da diverse fonti web. Quindi un mero strumento di supporto ad una passeggiata e nulla di più.
How to Write a Great Article: Simple Tips & Tricks from Experienced AuthorsGoDates
Write a killer article that gets attention! Simple tips & tricks from our experienced authors that will help you to become a rockstar copywriter or blogger.
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Improve network-wide security, drive your existing subscribers' loyalty, attract new customers and get more revenue with new products and services powered with SafeDNS solutions for telecoms.
When you think about anorexia nervosa, you probably have in mind what the media describes: a really think woman who refuses to eat because she reads too many magazines with extra thin models. Although issues with body image are part of the problem, it falls short of explaining what an eating disorder really is about. Many factors play a role, from biology to family circumstances, and my talk will explore the particular role of emotions in eating disorders with an emphasis on bulimia nervosa.
Power Ventures, Inc and Steven Vachani vs. Facebook - Supreme Court - Petitio...Steven Vachani
From 2006 to 2011, Power operated an online communications, personal data management, and social networking aggregator hosted at the www.power.com. Power offered registered users the capacity to access multiple online social networks (e.g., LinkedIn, Twitter), messaging services (e.g., Microsoft messenger), and email accounts (e.g., Google mail) through a single, integrated online interface consisting of a digital dashboard and browser. This online interface also featured popular add-in applications like a unified address book and mailbox integrating all of a user’s contacts,emails,social network messages, and instant messages in one place. The interface additionally enabled Power users to move files between different accounts with a click-and-drag function, like a user moves folders on an Apple Computer desktop or in Microsoft Windows. Power attracted more than ten million dollars of investment as a startup from noted Silicon Valley venture capital firms like Draper Fisher Jurvetson (who also invested in Hotmail, Skype, and Tesla) and registered more than twenty million users at its peak.
One key feature Power offered was the ability to transfer document files, address book contacts, instant messages, emails, and photos easily from one online service to another. Because it is so time consuming for people to move countless bits of data
manually from one service provider to a competitor, online companies like Power that facilitate moving a user’s data when one provider’s terms of use are too onerous are indispensable to lives lived increasingly on line. The right of a user to readily move, copy, and transmit his or her own personal data between online service providers and storage devices is called “data portability.” Data portability is a burgeoning policy concern of our time, as underscored by a recent report issued by the European Commission’s Directorate General Justice and Consumers. (See Article 29 Data Protection Working Party, Guidelines on the Right to Data Portability (Dec. 13, 2016), http://ec.europa.eu/information_society/newsroom/image/document/2016-51/wp242_en_40852.pdf
The importance of the Question Presented is underscored by the attention paid to it. The Electronic Frontier Foundation (“EFF”), a prominent internet rights non-profit organization, filed two amicus briefs at different stages of the district court proceedings. In the Ninth Circuit, the EFF again filed two amicus briefs. The latter of which, joined by the national American Civil Liberties Union (“ACLU”) and the ACLU of Northern California, explained that the Ninth Circuit’s decision risks creating liability for individual internet users, researchers, and journalists. See Amicus Brief of EFF
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Intellettuali Stranieri a Roma dal Grand Tour al XIX Secolo - 3a partePortante Andrea
Note e foto di accompagnamento per la passeggiata del Club del territorio di Roma (Touring Club), da Piazza del Popolo a Piazza Barberini. Focus su inglesi, tedeschi e russi. Non è, se non in minima parte, un lavoro "originale" ma una compilazione di testi, editati per convenienza, da diverse fonti web. Quindi un mero strumento di supporto ad una passeggiata e nulla di più.
How to Write a Great Article: Simple Tips & Tricks from Experienced AuthorsGoDates
Write a killer article that gets attention! Simple tips & tricks from our experienced authors that will help you to become a rockstar copywriter or blogger.
SafeDNS for Internet and Mobile Service ProvidersSafeDNS
Improve network-wide security, drive your existing subscribers' loyalty, attract new customers and get more revenue with new products and services powered with SafeDNS solutions for telecoms.
When you think about anorexia nervosa, you probably have in mind what the media describes: a really think woman who refuses to eat because she reads too many magazines with extra thin models. Although issues with body image are part of the problem, it falls short of explaining what an eating disorder really is about. Many factors play a role, from biology to family circumstances, and my talk will explore the particular role of emotions in eating disorders with an emphasis on bulimia nervosa.
Power Ventures, Inc and Steven Vachani vs. Facebook - Supreme Court - Petitio...Steven Vachani
From 2006 to 2011, Power operated an online communications, personal data management, and social networking aggregator hosted at the www.power.com. Power offered registered users the capacity to access multiple online social networks (e.g., LinkedIn, Twitter), messaging services (e.g., Microsoft messenger), and email accounts (e.g., Google mail) through a single, integrated online interface consisting of a digital dashboard and browser. This online interface also featured popular add-in applications like a unified address book and mailbox integrating all of a user’s contacts,emails,social network messages, and instant messages in one place. The interface additionally enabled Power users to move files between different accounts with a click-and-drag function, like a user moves folders on an Apple Computer desktop or in Microsoft Windows. Power attracted more than ten million dollars of investment as a startup from noted Silicon Valley venture capital firms like Draper Fisher Jurvetson (who also invested in Hotmail, Skype, and Tesla) and registered more than twenty million users at its peak.
One key feature Power offered was the ability to transfer document files, address book contacts, instant messages, emails, and photos easily from one online service to another. Because it is so time consuming for people to move countless bits of data
manually from one service provider to a competitor, online companies like Power that facilitate moving a user’s data when one provider’s terms of use are too onerous are indispensable to lives lived increasingly on line. The right of a user to readily move, copy, and transmit his or her own personal data between online service providers and storage devices is called “data portability.” Data portability is a burgeoning policy concern of our time, as underscored by a recent report issued by the European Commission’s Directorate General Justice and Consumers. (See Article 29 Data Protection Working Party, Guidelines on the Right to Data Portability (Dec. 13, 2016), http://ec.europa.eu/information_society/newsroom/image/document/2016-51/wp242_en_40852.pdf
The importance of the Question Presented is underscored by the attention paid to it. The Electronic Frontier Foundation (“EFF”), a prominent internet rights non-profit organization, filed two amicus briefs at different stages of the district court proceedings. In the Ninth Circuit, the EFF again filed two amicus briefs. The latter of which, joined by the national American Civil Liberties Union (“ACLU”) and the ACLU of Northern California, explained that the Ninth Circuit’s decision risks creating liability for individual internet users, researchers, and journalists. See Amicus Brief of EFF
https://www.eff.org/document/facebook-v-powerventures-eff-aclu-amicus-brief. The case and the Petitioners have been the subject of articles in major news organs like NPR, (Aarti Shahani, The Man Who Stood Up to Facebook, NPR (Oct. 13, 2016) https://goo.gl/UAXhVk
My session from SMX Munich about generating the BIG links. Building creative assets that deserves more than just the links! Featured campaigns: Unknown Tourism for Expedia, Directors Cut for Gocompare.com, Unicorn League for Sage and Virtual Flaam for Expedia Norway. Tools mentioned in session: Gorkana (for journalist contacts) and Buzzstream (for outreach process)
A review of dyslexia in dyslexia across different languages, the characteristics that distinguish these students with dyslexia from ELLs without dyslexia and the teaching strategies that work with both groups.
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Nonwovens production technology overview presentation by Markku Koivisto, Chief Technology Officer at Suominen. Held in Suominen Capital Markets Day on 10 May 2017.
Snam 2023-27 Industrial Plan - Financial Presentation
Review by the President & CEO, Suominen Corporation's Annual General Meeting 2017
1. Review by the President & CEO
Nina Kopola
15 March 2017
2. Our purpose is to make nonwovens continuously better for people.
Agenda
• Suominen today
• Review 2016
• Outlook for 2017
• Strategy and its execution in 2016
• New strategy period about to begin
• Summary
2017/3/15 2
3. Our purpose is to make nonwovens continuously better for people.
Corporate Executive Team and
Corporate Leadership Team
2017/3/15
Nina Kopola
President & CEO
Tapio Engström
CFO
Lynda A. Kelly
Care
Larry L. Kinn
Operations
Ernesto S. Levy
Convenience
Mimoun Saïm
Operations
Hannu Sivula
HR
Dan Dunbar
Sourcing
Anu Heinonen
Communications
& IR
Margareta Huldén
R&D
Roberto Pedoja
Technology
Timo Rautakorpi
CIO
Saara Söderberg
Marketing &Product
Management
3
4. Our purpose is to make nonwovens continuously better for people.
Suominen today
2017/3/15 4
5. Our purpose is to make nonwovens continuously better for people.
Potential customers
Our customers convert nonwovens into products for
consumers and professionals
2017/3/15
Suominen End use applications
5
6. Our purpose is to make nonwovens continuously better for people.
Suominen product features
2017/3/15 6
7. Our purpose is to make nonwovens continuously better for people.
Eight nonwovens plants in three continents serving both business areas
Two business areas – Convenience and Care
92% of Suominen’s net sales 8% of Suominen’s net sales
• Main end use areas:
- Hygiene products (femcare,
incontinence, diapers)
- Medical nonwovens (e.g.
swabs, undercast pads,
surgical drapes and masks)
• Net sales of the business area
(2016) 31.3 M€
• Main end use areas:
- Baby wiping
- Household wiping
- Personal care wiping
- Workplace wiping
• Net sales of the business area
(2016): 385.5 M€
Convenience Care
2017/3/15 7
8. Our purpose is to make nonwovens continuously better for people.
Locations in three continents make an important
competitive edge
Green Bay, WI, USA
Windsor Locks, CT, US
Bethune, SC, US
Paulínia, Brazil
Alicante, Spain
Mozzate, Italy
Nakkila, Finland
Cressa, Italy
Helsinki, Finland
(Head office)
Sales
representatives
present in
several
locations in Asia
Pacific
2017/3/15 8
9. Our purpose is to make nonwovens continuously better for people.
We hold the leading market position in Convenience,
still a challenger Care
TOP10 #1 Challenger
in nonwovens for
medical & hygiene
products
(Care business area)
Global market leader
in nonwovens
for wipes
(Convenience
business area)
Ninth-largest
of all nonwovens
suppliers globally
2017/3/15 9
10. Our purpose is to make nonwovens continuously better for people.
Review 2016
2017/3/15 10
11. Our purpose is to make nonwovens continuously better for people.
Positives and negatives of 2016
- The development of net
sales and operating profit
did not live up to our
expectations.
- Financial targets were not
met in financial year 2016.
2017/3/15
+ Cash flow from operations
continued strong.
+ Portfolio transformation
continued in the right
direction.
+ The Bethune investment
proceeded in schedule. Once
completed, it will provide us
new opportunities for future
profitable growth.
+ Dividend proposal is EUR
0.11 per share.
11
12. Our purpose is to make nonwovens continuously better for people.
The net sales fell short of the comparison year but
reached the second-best level ever
Net sales, EUR million
• Due to the tightened competitive situation, it was harder than usual to predict the development of
demand. In addition, there were pricing pressure at the markets, mainly in baby wipes in the North
American and European markets and in flushable products in the European markets.
• Net sales were affected by both lower sales prices and volumes, approximately in equal proportions.
2017/3/15
356.9 373.7 401.8 444.0 416.9
0
100
200
300
400
500
2012 2013 2014 2015 2016
12
13. Our purpose is to make nonwovens continuously better for people.
The increase in the share of products with high added
value* in our portfolio continued
38%
25%
18%
10%
8%
2016: 416.9 M€
40%
22%
17%
11%
7%
2015: 444.0 M€
*Nonwovens for personal care, household and workplace wipes as well as for hygiene and medical products typically
carry high added value.
2017/3/15
Household wipes Workplace wipesBaby wipes Personal care wipes Hygiene & medical
products
47%
18%
19%
10%
6%
2012: 357.9 M€
13
14. Our purpose is to make nonwovens continuously better for people.
Operating profit was burdened due to several factors
Comparable operating profit, EUR million and %
• Lower sales volumes and pricing pressure caused by tightened competition had an impact on the
operating profit.
• The efforts to improve our strategic capabilities, for instance in R&D resources, in the Bethune
production line investment, and in the ongoing ICT systems renewal, increased our costs.
2017/3/15
14.9
19.4
26.9
31.2
25.6
4.2 %
5.2 %
6.7 %
7.0 %
6.1 %
0%
2%
4%
6%
8%
0
10
20
30
40
2012 2013 2014 2015 2016
EUR million %
14
15. Our purpose is to make nonwovens continuously better for people.
Profit for the period declined from last year
Profit for the period, EUR million
2017/3/15
-2.8 5.7
10.2
17.0 15.2
-5
0
5
10
15
20
2012 2013 2014 2015 2016
15
16. Our purpose is to make nonwovens continuously better for people.
Cash flow from operations continued strong
Cash flow from operations, EUR million
2017/3/15
24.9 21.3
37.1
27.3 28.5
0
10
20
30
40
2012 2013 2014 2015 2016
16
17. Our purpose is to make nonwovens continuously better for people.
Dividend proposal by the Board of Directors
2017/3/15
• The Board of Directors
proposes to the Annual
General Meeting of
Suominen that a dividend
of EUR 0.11 per share will
be paid from FY2016.
• The proposal is in line with
Suominen’s dividend
policy
• The total shareholder
return (TSR) is 100%
(2011/11/1 – 2016/12/31)
0.19
0.32
0.29
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
2014 2015 2016
EPS DPS
EPS and DPS, EUR
0.05
0.10 0.11
2016: Proposal for the AGM.
2014: Distribution of funds. EPS concerns
the result of the continuing operations, not result for the
financial year.
17
18. Our purpose is to make nonwovens continuously better for people.
Outlook for 2017
• Suominen expects that for the full year 2017, its net sales will
improve from year 2016.
• Also the comparable operating profit is estimated to improve
from year 2016, provided that the new production line at the
Bethune plant will be started up as planned.
• In 2016, Suominen’s net sales amounted to EUR 416.9 million
and comparable operating profit to EUR 25.6 million.
2017/3/15 18
19. Our purpose is to make nonwovens continuously better for people.
Strategy and its
execution in
2016
2017/3/15 19
20. Our purpose is to make nonwovens continuously better for people.
Also in the nonwovens industry, consumer is the king
2017/3/15 20
21. Our purpose is to make nonwovens continuously better for people.
Suominen’s strategy 2015–2017
21
Market Driven Product Leader
Vision
Strategy
1. Deliver superior value in thoughtfully selected market
applications.
2. Drive proactive key account management.
3. Execute demand driven supply chain.
4. Evolve culture and capabilities to build strong product
company.
Our purpose is to make nonwovens continuously better for people
Purpose
2017/3/15 21
22. Our purpose is to make nonwovens continuously better for people.
Deliver superior value
in selected market
applications
Key activities in delivering superior value
+60 M€ growth investment program
reaching its final leg
Product development process and
capacity enhanced
New products launched
1
2017/3/15 22
23. Our purpose is to make nonwovens continuously better for people.
The growth investment program covers three
continents
• Supports the transformation
of the product portfolio
towards the larger share of
high value-added products.
• Initiatives in four plants on
three continents.
• A new wetlaid
manufacturing line to
Bethune, SC; USA (over EUR
50 million).
• Retrofit investments made
in Europe and in South
America.
2017/3/15
Bethune, USA
Paulínia,
Brazil
Alicante,
Spain
Nakkila
23
24. Our purpose is to make nonwovens continuously better for people.
Investment program targeted to growing markets
and products with high added value
Location Value Segments Market
growth*
Competitive
situation
Bethune, SC, US >50 M€ Flushables
+9 %(NA) Tightening
Household
wiping +7 %(NA) Balanced
Workplace
wiping +5-7% Balanced
Paulínia, BR
4 M€
Medical +3-5 % Emerging
market
Alicante, SP Workplace
wiping +5-7%
Balanced
Nakkila, FI Several
segments
+2 % Mixed
2017/3/15
*Estimates based on third party forecasts and management analysis, reflecting averages.
24
25. Our purpose is to make nonwovens continuously better for people.
The new manufacturing line in Bethune is currently
in the start-up phase
2017/3/15
• The entire capacity of the
new line will be allocated for
products with high value-
added.
• Since the line is tailor-made
based on Suominen’s own
expertise, we can supply
products our competitors
cannot.
• Customer deliveries are
scheduled to start in the
coming days.
25
26. Our purpose is to make nonwovens continuously better for people.
Thanks to the investments, we have been able to
launch new products to the market
• AIRLACE™ for Workplace was launched in
January 2017.
• The retrofit investment made at Alicante
plant enables Suominen to manufacture
the new product.
• FIBRELLA® Perf for medical applications
was launched in 2015. The product is
available also for South American
customers thanks to the retrofit
investment made at Paulínia plant.
• More new products to be launched
during spring 2017.
2017/3/15 26
27. Our purpose is to make nonwovens continuously better for people.
New competencies in the Corporate Executive Team
• Markku Koivisto has been appointed
Senior Vice President, Chief
Technology Officer and a member of
the Corporate Executive Team as of
27 March 2017.
• Mr. Koivisto joins Suominen from
UPM Raflatac, where he lead the Global
Business Development organization.
2017/3/15
• His industrial and technological experience combined with his
proven track record in commercializing innovations will bring
new competencies in Suominen.
• Technological competence will play an important part in the
execution of Suominen’s current and future strategies.
27
28. Our purpose is to make nonwovens continuously better for people.
Drive proactive key
account management for
mutual value creation
Key activities in creating mutual value
2017/3/15
The customer interface of Suominen
was strengthened in 2016 through
several important recruitments.
Customer satisfaction and the
perception on the added value
generated by Suominen clearly
improved (7,32 7,61).
2
28
29. Our purpose is to make nonwovens continuously better for people.
Recruitments made will support Suominen on its path
towards product leadership
• In 2016, the focus of the
recruitments was on the
customer interface as well as
in the functions enabling
reaching product leadership.
• Several important
appointments were made
especially in R&D, Product
management and Sales.
2017/3/15 29
30. Our purpose is to make nonwovens continuously better for people.
Execute demand
driven supply chain
Key activities in executing a demand driven supply
chain
3
2017/3/15
Comprehensive ICT systems renewal
progressed as planned
Also the organizational changes
support the supply chain management
30
31. Our purpose is to make nonwovens continuously better for people.
Group-wide initiative to renew the ICT systems
progressed as planned
• ICT systems renewal progresses in stages and according to the
plan.
• The project enables Suominen to fully deploy global processes
defined earlier. Moreover, it enhances our ability to forecast
demand and manage our order-supply chain.
2017/3/15 31
32. Our purpose is to make nonwovens continuously better for people.
Evolve culture and
capabilities to build strong
product company
Key activities in evolving culture and capabilities
4
Pivotal recruitments building new and
enhanced capabilities in several areas
Strategic sustainability initiatives in
progress, e.g., blind recruiting
2017/3/15 32
33. Our purpose is to make nonwovens continuously better for people.
Sustainability is on the rise also on customers’
agenda
Supplier
Code of Conduct
implemented
Sustainable product
portfolio: Suominen
joins the
sustainability
network of a global
consumer goods
company
Non-
Discrimination
Program:
Blind hiring as a
default recruitment
process
Improved safety
indicators
Cooperation with
Women’s Bank to
start
Reaching
product leadership
Fostering responsibility
through the value chain
Operating sustainably
across the company
2017/3/15 33
34. Our purpose is to make nonwovens continuously better for people.
5.0 %
12.4 %
15.7 % 15.9 %
11.6 %
0%
5%
10%
15%
20%
2012 2013 2014 2015 2016
ROI, %
6.9 %
3.5 %
0.8 %
-6.1 %-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
Organic net sales growth, %
2013 2014 2015 2016
101,0 % 96.2 %
34.7 %
25.9 %
39.6 %
0%
20%
40%
60%
80%
100%
120%
2012 2013 2014 2015 2016
Gearing, %
Mid-term financial targets and their realization in the
financial year 2016
• Organic growth of net sales , excluding
currency effect, compared to previous year.
Indicator is reviewed annually.
• Target level marked with dashed line.
• Figures from 2012 to 2014 concern only
Suominen’s continuing operations.
2017/3/15 34
35. Our purpose is to make nonwovens continuously better for people.
New strategic
period about to
begin
2017/3/15 35
36. Our purpose is to make nonwovens continuously better for people.
More information
on our strategy for
2017–2021 will be
disclosed on
26 April.
New strategy period (2017–2021) about to begin
2017/3/15
The investments
and other
capability
development
projects have
created improved
conditions for the
further portfolio
transformation,
enabling Suominen
to growth and
improve its
profitability.
Success in the
execution of the
upcoming strategy
will bring our net
sales above 600 M€
in 2021.
Regarding the
operating profit, we
target to reach a
clearly higher level,
over 10%.
36
37. Our purpose is to make nonwovens continuously better for people.2017/3/15
• The development of net sales and operating profit
did not live up to our expectations.
Financial year 2016: Summary
• Cash flow from operation continued strong.
• Equipment installations were completed in Bethune.
The growth investment program is nearly completed.
• Suominen discloses its strategy for
2017–2021 in April.
• However, our product portfolio improved and the
share of products with higher added value grew.
>600 M€
>60 M€
28.5 M€
62%
-6%
-18%
37