Following on from IM’s report on ever more stringent diesel particulate emission standards in the February issue, Donaldson, a leading, worldwide manufacturer of filtration systems and parts, has recognised Phillip Johnson, Director, Liquid Filtration, New Business Development at Donaldson for his work on Fuel Filtration Reality Check, a study that predicts by 2010 that diesel injection systems will require much higher efficiency filtration below 5µm and need to be significantly cleaner than the technology allows today. Johnson delivered the study at the 9th International Filtration Conference in November 2008 hosted by Southwest Research Institute® and was awarded the Peter Herman Award for Outstanding Technical Presentation. In the study, Johnson discusses how engine design and available fuel types have changed significantly in the past 20 years based on legislation, regulation and rapidly escalating oil prices. Yet, fuel specifications and fuel filtration have seen little change. He concludes that providing clean fuel throughout the distribution channel will become a prerequisite for diesel engine applications.Johnson also outlines the filtration industry’s need for new standards and new ‘systems’ technologies to measure fine particulate and other contaminants. “Stakeholders, such as fuel companies, distributors, suppliers, engine manufacturers and filter companies can no longer work in siloed environments within the supply chain to meet filtration requirements for engine manufacturers,” said Johnson. “Filtration solutions will need to take a ‘systems’ approach where we work in collaboration to provide the highest level of customer satisfaction.”To read “Fuel Filtration Reality Check” in its entirety, visit http://www.donaldson.com/en/engine/support/datalibrary/063416.pdf or request a copy at (952) 887-3034.
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Newgioco cuts first half loss despite revenue decline Online gaming operator and supplier Newgioco Group has reported an 18.5% year-on-year decline in revenue for the first half of 2020, though reduced operating costs saw the business halve its net loss for the period.Turnover for the six months to 30 June fell 11.1% to $210.0m, with a 4.0% rise in online turnover to $182.2m wiped out by a 54.4% drop in retail’s contribution. This period saw Newgioco’s 150 betting shops in its core Italian market closed from 8 March to 4 May as a result of the novel coronavirus (Covid-19) pandemic, and major sporting events cancelled or suspended.It was not until 19 June that all land-based betting shops and kiosks were all back in operation.After payouts of $192.5m, Newgioco’s gross gaming revenue was down 14.6% at $17.6m. Once Italian gaming taxes of $2.6m were paid, and platform revenue of $24,797 (down 85.7%) factored in, Newgioco’s revenue for the first half came to $15.0m, down 18.5% year-on-year.The retail shut-down and suspension of sports did result in a decline in operating costs for the period, which fell 21.5% to $15.9m, resulting in a reduced operating loss of $896,472.However, other costs were significantly reduced, falling from $2.6m in H1 2019 to $881,377. This was down to a $722,500 gain on marketable securities, while interest expenses declined to $173,073 and debt amortisation charges fell 64.3% to $737,074.This resulted in a $1.8m loss before tax, which after income taxes of $590,097 resulted in a net loss of $2.4m, down 51.6%. Once a $93,514 foreign exchange loss was factored in, Newgioco’s comprehensive loss for the half was reduced 50.3% to $2.5m.This followed a second quarter in which revenue was down 47.2% to $4.8m. Turnover for the three months to 30 June only decreased marginally, however, falling 5.2% to $94.1m as growth in online stakes offset retail wagering falling to $4.2m.Costs and expenses declined 29.0% to $6.8m, resulting in an operating loss of $2.0m, up significantly from a $523,703 loss in the prior year. Once again, other expenses fell significantly due to reduced interest expenses, lower debt amortisation charges and a gain on marketable securities.But with revenue for the quarter falling, this still translated to higher losses. Loss before income taxes widened to $2.5m. After $62,059 in income taxes, Newgioco’s net loss grew 42.0% to $2.5m, which after a $18,516 gain from foreign currency translations, resulted in a comprehensive loss of $2.5m for the period, up 46.7%. Subscribe to the iGaming newsletter Regions: Europe Southern Europe Italy Online gaming operator and supplier Newgioco Group has reported an 18.5% year-on-year decline in revenue for the first half of 2020, though reduced operating costs saw the business halve its net loss for the period. 20th August 2020 | By contenteditor Tags: Mobile Online Gambling Finance Email Address Topics: Finance Sports betting Tech & innovation