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Diversey Reports First Quarter 2021 Results
FIRST QUARTER HIGHLIGHTS
Q1 top line grew 2% vs 2019 pre-COVID-19 baseline and -3.6% vs 2020 despite more restrictive COVID-19 lockdowns than expected
Net loss of $95.7 million in Q1 driven by significant IPO related costs
Adjusted net income of $27.2 million versus $22.5 million in Q1 2020, representing 20.9% growth
Adjusted EBITDA of $92.7 million represents a 60 basis point adjusted EBITDA margin improvement versus Q1 2020 and a 630 basis point improvement versus Q1 2019.
Unaudited
(millions)
(1) See the “Non-GAAP Financial Information and Segment Adjusted EBITDA” section herein for explanations of these financial measures.
FORT MILL, S.C., May 14, 2021 (GLOBE NEWSWIRE) In its first public earnings release since becoming a publicly traded company, Diversey Holdings, Ltd. (“Diversey”) announced that its 2021 first quarter results were in-line with its expectations despite heavy lockdowns in most parts of the world.
Updated Jan 18, 2021 | 13:35 IST
The settlement mechanism that is available at present, provides only a one-time opportunity to resolve disputes. There is also a limitation on the kind of cases that can be taken up. Representational image
New Delhi: Finance Minister Nirmala Sitharaman may unveil a new and continuous framework for faster resolution of disputes over direct taxes in the upcoming Union Budget to be presented on February 1. The government is reportedly considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se Vishwas’ scheme, the
Economic Times mentioned in a report citing an unnamed person familiar to the pre-budget discussions.
New Delhi: The upcoming budget could unveil a new and continuous framework for faster resolution of disputes over direct taxes.
The government is considering options such as mediation or a permanent dispute resolution system with pre-specified benchmarks on the lines of the ‘Vivad Se Vishwas’ scheme have been discussed, a person familiar to the pre-budget discussions said.
“Various options have been discussed… A final view should be taken shortly,” the person told ET. The idea is to prevent disputes and reduce litigation. According to the FY21 budget, more than Rs 8 lakh crore is locked up in direct tax disputes. It is being felt that along with the already introduced faceless assessment, an alternate settlement mechanism can be very effective at keeping disputes contained and would also be appreciated by the global investors.
Jersey is witnessing a spike in the inflow of private equity fund managers establishing a physical presence on the island. A number of household name fund managers across all asset classes now call Jersey home, with others in advanced stages of planning to follow them into Jersey. What are the principal drivers of this trend?
The drivers can be both economic and regulatory, but redomiciling to Jersey is often also a lifestyle choice for many senior fund management professionals. Jersey s sophisticated funds services offering means that the island can offer operational advantages for fund managers relocating to Jersey. Underscoring this has been a political desire on the island to diversify the economy, which has resulted in the introduction of tax regimes and policies which have attracted high-value industries, such as the fund management industry, to the island.