From the Sector

Researchers at Cornell have developed a new type of smart clothing that can track a person’s posture and exercise routine but looks, wears – and washes – just like a regular shirt.

The new technology, called SeamFit, uses flexible conductive threads sewn into the neck, arm and side seams of a standard short-sleeved T-shirt. The user does not need to manually log their workout, because an artificial intelligence pipeline detects movements, identifies the exercise and counts reps. Afterward, the user simply removes a circuit board at the back neckline, and tosses the sweaty shirt into the washing machine.

The team envisions that SeamFit could be useful for athletes, fitness enthusiasts and patients engaged in physical therapy.

Most existing body-tracking clothing is tight and restrictive or embedded with chunky sensors, according to Catherine Yu, a doctoral student in the field of information science and lead researcher on the project.

“We were interested in how we can make clothing smart without making it bulky or unusable,” Yu said, “and to push the practicality, so that people can treat it the way they would usually treat their clothing.”

Alternatively, athletes can choose fitness trackers, like smartwatches or rings, but these are extra devices that people may not want to wear while exercising, and can’t track movement across the entire body.

“Not everyone is willing to try out a new wearable form factor, but people will have clothes on,” said co-author Cheng Zhang, assistant professor of information science in the Cornell Ann S. Bowers College of Computing and Information Science. “We provide a very neat form factor that is always on you.”

Their study,“SeamFit: Towards Practical Smart Clothing for Automatic Exercise Logging,” published in March in the Proceedings of the ACM on Interactive, Mobile, Wearable and Ubiquitous Technologies, and will be presented at the UbiComp/ISWC 2025 meeting in October.

Most mass-produced clothing has seams, which Yu realized could be exploited to make a comfortable, affordable piece of smart clothing. She constructed three SeamFit shirts – in small, medium and large – using a home sewing machine to attach conductive threads on top of the seams. The three sizes allowed users to choose a looser or tighter fit, but did complicate the process of interpreting each user’s movements.

To test the shirts’ performance, the team recruited 15 volunteers, who did a series of 14 exercises – including lunges, sit-ups and biceps curls – while wearing SeamFit. Without any calibration or training for each user, SeamFit’s model classified the exercises with 93.4% accuracy and successfully counted reps, with counts that, on average, were off by less than one.

SeamFit works because when people exercise, the threads’ capacitance – their ability to store charge – changes as the threads move, deform and interact with the human body. The circuit board at the back neckline measures the capacitances and transmits them through a Bluetooth connection to a computer. A customized, lightweight signal-processing and machine-learning pipeline then deciphers the movements.

After the workouts, Yu washed and dried the shirts at home.

The project is a new iteration of SeamPose, a previous effort to track body postures using conductive threads in eight seams of a long-sleeve T-shirt.

The team envisions that this type of unobtrusive smart clothing could be especially useful for athletes logging their exercise routines and for physical therapists monitoring the progress of patients at home.

More broadly, this type of technology could assist with human-AI interaction, because by tracking human movements and activities, AI can better understand when to interact and when to wait – such as when someone is eating or sleeping.

Enabling AI to understand human activity is the main focus of Zhang’s Smart Computer Interfaces for Future Interactions (SciFi) Lab, which develops new, AI-powered wearable sensing systems, to enable AI to comprehend human activities and intentions in everyday settings and provide support when needed.

“While this paper demonstrated the approach for a simple garment, we believe it can easily be adapted to a wide range of garments and could take advantage of the complex seam patterns of advanced sportswear,” said co-author François Guimbretière, professor of information science in Cornell Bowers CIS and the multicollege Department of Design Tech.

To create SeamFit, Yu set up a “little sewing factory” in the lab. However, she is currently exploring how the manufacturing process could be affordably scaled up, using industrial serger machines – which sew and make seams using three or four threads simultaneously – and more robust conductive threads.

“By just replacing a single thread in this mass manufacturing process, all of the clothing could easily become smart and be able to have this motion tracking capability,” Yu said. “I’m imagining one day, you open your closet and there’s really no difference between smart and nonsmart clothing.”

Additional authors on the study include Manru Mary Zhang ’25 and Luis Miguel Malenab ’25; Chi-Jung Lee and Ruidong Zhang, both doctoral students in the field of information science; and Jacky Hao Jiang, a visiting undergraduate from Rice University.

Funding for this work came from the National Science Foundation.

Fibre and fabric production technologies – especially in the area of composite reinforcements – have played an as-yet largely unheralded role in the development of the UK’s Formula One industry, but the British Textile Machinery Association (BTMA) aims to change that.

Motorsport Valley
“If there’s one thing the UK does well, it’s Formula One, with seven of the ten F1 teams located within just an hour of each other in the midlands region known as Motorsport Valley,” explains BTMA CEO Jason Kent. “They are all linked to a national network of around 4,500 companies involved in a motorsport and high-performance engineering industry worth around £9 billion annually and employing 40,000 people. This network draws on the services of a significant number of our member companies.”

“With the exception of the engine, virtually every part of a Formula One racing car now starts from a textile, including the bodywork, the tyres and many of the latest fuel systems,” says Richard Kirkbright, project manager at Leeds-based Roaches International. “This has influenced developments in the broader automotive sector, in addition to the aerospace industry.”

Show cars and memorabilia
While best known as the developer of textile testing systems, Roaches has over the years also supplied advanced autoclaves to the UK’s composites industry, including a recent delivery to Northampton-based Memento Exclusives, a specialist in the production of show cars working directly with F1 and its leading teams.

Each major F1 team sponsor is supplied with one or two show cars for use at exhibitions and a wide range of other promotional activities arranged around the racing event calendar. These cars have no engine and their bodies may be made of fewer carbon fibre plies, but they are otherwise identical to the latest cars being raced by the F1 teams.

Memento Exclusives has its own in-house carbon fibre parts manufacturing facility and the integration of the Roaches autoclave has significantly expanded its capabilities in show car production.

Master bakers
“Composite materials undergo a metamorphosis in the autoclave which subjects them to both mechanical and chemical processes,” explains Richard Kirkbright. “Trapped air and volatiles are expelled and plies are consolidated under precise pressure. Heat cycles are then introduced, curing the resin systems and yielding flawlessly crafted components. Autoclave specialists are a little like master bakers, knowing exactly how to treat their ingredients at every stage of the process, to achieve the desired final product.”

“The Roaches autoclave now enables us to cure large components with full control and achieve a swift turnover of parts while ensuring the highest quality finish,” adds Terry Wasyliw, Head of Build for Memento Exclusives.

McLaren’s influence
Woking, UK-headquartered McLaren was the very first F1 team to introduce a car chassis manufactured entirely from carbon fibre composites back in 1981, setting the ball rolling for the creation of a completely new and global supply chain.

McLaren has this year unveiled a world-first in supercar engineering – aerospace-derived Automated Rapid Tape (ART) carbon fibre, developed at the dedicated McLaren Composites Technology Centre (MCTC) facility in Sheffield. This is being employed to create the active front wings of the W1 hypercar which has a starting price of $2.1 million.

A rear floor component was also developed for McLaren as part of the recently-completed £39.6 million ASCEND programme involving a range of UK partners, including BTMA member Cygnet Texkimp.

Handling, converting and decarbonisation
A wide range of handling and converting machines are supplied to the composites industry by Cygnet Texkimp, including bespoke creels, prepreg, coating, slitting and filament winding machines.

Its technologies are employed in the construction of composite components for aerospace and automotive, as well as in the production of tyre cord and more recently in the advanced construction of hydrogen storage vessels which are largely viewed as the future of F1 propulsion, along with advanced batteries for electric vehicles.

Cygnet Texkimp has been involved in the F1 supply chain for over 20 years and most carbon fibre used in the industry has been processed on one of its VHD creels. The company is also the largest independent manufacturer of prepreg machines in the world and is currently leading the design and build of the UK’s first carbon fibre research lines for a project led by NCC (National Composites Centre) to accelerate the development of more sustainable carbon fibres.

In addition, Cygnet is licensed to design and build the DEECOM® composite recycling system developed by new BTMA member Longworth Sustainable Recycling Technologies, the first of which was recently commissioned by the Henry Royce Institute in Manchester. DEECOM® is a zero emission, low carbon pressolysis solution using pressure and steam to reclaim pristine condition fibres and resin polymers frocm production waste and end of life composites.

“Decarbonisation is a major priority for manufacturers globally,” says Cygnet CEO Luke Vardy. “At Cygnet Texkimp, we’re developing the capability to process technical fibres in ways that enable lightweighting, hydrogen power and electrification, reduce waste and revolutionise the end-of-life management of composite materials and parts. In collaboration with our industry partners, we’re bringing to market some of the most innovative new fibre processing technologies ever developed to deliver real-world benefits that support the sustainability agenda.”

Prepregging
Another new BTMA member, Emerson & Renwick (E+R), a specialist in print, forming, vacuum and coating technologies, also supplies technology for the production of carbon fibre prepregs, which are integrated rolls of fabrics and resins.

Its most recent 1.7-metre-wide line supplied to a customer in Italy operates at speeds of 40+ metres per minute for web coatings or prepreg fibre and resin consolidation, or a combination of both processes. It is distinguished by an ultra precise three-roll reverse roll coater for the processing of high viscosity thermo-activated resins and enables the automatic changeover of sensitive woven fabric materials at zero tension, with three high precision calendaring nips with hot/cool plates. Multiple unwind and rewind systems for intermediate lamination steps include side loading and reliable lap splicing and zero speed splicing with a web accumulator for the main product rewind.
 
 E+R has also been part of a consortium working on the development of lithium-sulphur (Li-S) batteries within the £540 million UK Faraday Battery Challenge. Once commercially viable, Li-S batteries promise to provide relatively high energy density at low cost for sustainable electric vehicles of the future – inevitably starting with F1.

Strong links
“In addition to our powerful base of textile testing and control companies, many other BTMA members are working on further F1 and advanced composite projects,” says Jason Kent in conclusion. “We are also forging strong links with the UK’s key research hubs such as Sheffield University’s Advanced Manufacturing Research Centre, the Northwest Composites Centre in Manchester, the National Centre for Motorsport Engineering in Bolton and the National Composites Centre in Bristol.

“The BTMA recently became an associate member of Composites UK too, because this sector is the crucible of innovation for tomorrow’s textiles.”

When textiles are equipped with electronic components, conductive yarns and textile sensors, the application possibilities are almost unlimited. These high-tech textiles are a global growth market. In Stuttgart, manufacturers, users and researchers presented amazing examples of applications in construction, architecture and mobility. The appropriate standards ensure quality and safety.

In keeping with the themes of the event, participants were able to take a look behind the construction fence of the Stuttgart 21 rail project on the first day. After the tour, DITF board member Götz T. Gresser drew parallels with the market for smart textiles. Just like the completion of the underground station, the market potential for smart textiles is developing more slowly than predicted.

One important reason for this is that there is still a lot to be regulated. Standardization was therefore a key topic in the presentations on the second day of the event. Norms and standards create trust among users. They reduce the error rate in design and therefore development costs, helping to bring innovations and new technological developments into use. Kristina Müller from the German Institute for Standardization explained that consistent compliance with standards can reduce error costs in construction, for example, from the current estimated eleven percent to five percent per year. Jan Beringer from the Hohenstein Group used the example of actively illuminated high-visibility clothing to show the hurdles that need to be overcome on the way to standardization.

In addition to high-visibility equipment, workwear offers many opportunities for smart functions. Despite all safety precautions, accidents at work cannot always be avoided, explained Silke Rehm from Adresys. Smart clothing can then automatically make an emergency call and trigger an emergency shutdown of the machine.

There are suitable testing devices for monitoring and quality assurance of materials and textile surfaces. Stefan Fliescher from Textechno presented a device that has so far been exclusively used at the DITF.

The second block of presentations focused on mobility: examples included textile ideas for flight cabins of the future from Diehl Aviation, precise and therefore energy-saving heating systems for vehicles from Köstler and contactless sensor technology from Rotec, which detects when fiber ropes need to be replaced. Erhardt manufactures flexible, customized bodies for commercial vehicles They are particularly suitable for logistics in city centers and are equipped with textile sensors, for example for measuring temperature or determining the optimum load. The textile superstructures not only offer a textile surface for design, they can also communicate with their surroundings. Digital lettering shows when the vehicle is giving way or warns cyclists of blind spots when turning. Modules that are not required can be folded or rolled up to save space.

In the construction and architecture application area, solutions for climate change are in demand. TEC KNIT has developed smart shading systems made from “shape memory” polymer fibers that close or reopen depending on the temperature. Optigrün relies on smart rainwater management for greening buildings. Textile sensor technology ensures that the water is optimally distributed over the surface - digitally controlled according to the weather forecast. Michael Schneider from the Smart Textiles Hub showed how intelligent knitted fabrics installed on flat roofs detect moisture and temperature by contracting or expanding accordingly. This can also prevent damage caused by icing, for example. Christoph Riethmüller from the DITF explained that the actual state of buildings is constantly changing due to events. The charm of smart textiles is that they can adapt to these changes. In this way, it is possible to intervene before negative consequences become noticeable. This saves a lot of energy. For example, the targeted heating of walls depending on the relative humidity prevents the occurrence of mold with low energy consumption. Intelligent shading systems also ensure that rooms remain at a pleasant temperature in summer without air conditioning and that the heat remains in the room in winter.

The event was accompanied by an exhibition where participants were able to try out numerous smart products.

The annual User Forum is organized by the German Institutes of Textile and Fiber Research Denkendorf (DITF), the Textile Research Institute Thuringia-Vogtland e.V. (TITV Greiz) and the Forschungskuratorium Textil e. V. (FKT).

The next SMART TEXTILES User Forum will take place on March 4-5, 2026 in Zeulenroda.

Textile interior design at its best is an integral part of Heimtextil. Designer and architect Patricia Urquiola expressed this spectacularly in January in Frankfurt with her installation ‘among-us’. Now the leading trade fair is making its mark at Milan Design Week: exclusive products by Patricia Urquiola, created specifically for Heimtextil, are celebrating their premiere at the Design Week in Milan. Set within a diverse interior setting, they highlight the vital role textiles play in holistic design.

Two pieces designed by Patricia Urquiola exclusively for Heimtextil are staged in Milan. With their organic shapes, the ‘Gruuvelot’ sofa and the padded sculpture ‘Mushmonster’ by Moroso morph to their surroundings and invite touching and interaction. ‘Gruuvelot’ represents an organism that expands and unfolds within space. Exceptional protrusions, extensions and volumes form a flowing seating ecosystem that adapts to the body and offers a variety of possibilities for interaction. ‘Mushmonster’ is inspired by the shape of a giant mushroom and shows an organism in constant metamorphosis. At the same time, it contains a filling that enables sustainable production and complex shapes. The covering designed by Patricia Urquiola envelops the padded object. Sustainable and innovative: the fabric is produced using a water-based and CO2-saving printing process.

Until Sunday, the upholstered pieces will merge with a new design environment at the heart of Milan Design Week. Patricia Urquiola designed the Palazzo Bovara for Elle Decor. Under the title ‘Alchemica’, the installation explores the home as a transforming organism that changes throughout the day, the seasons and the stages of life. The designer plays with the metaphor of alchemy, the senses, balance and opposites. She invites visitors to experience the metamorphosis in different rooms. Right in the centre: the padded sculptures of the Heimtextil installation ‘among-us’. ‘Gruuvelot’ is positioned in the purification and light phase in a reflective room with light tones. In the indoor garden, ‘Mushmonster’ is part of a union of opposites and biomorphs in moving, cyclical light.

EIM (Environmental Impact Measuring), the leading global platform for measuring the environmental impact of garment finishing—trusted by the world's top brands and textile production centers—presents the "Innovations and Challenges in Denim Finishing: 2024 Report." This pioneering report provides an analysis based on accurate, objective data from over 115,000 denim finishing processes collected through the EIM platform, setting new benchmarks for sustainability in the industry.

The report reveals that 63% of the analyzed processes are already classified as low environmental impact, reflecting a positive shift toward more responsible practices. However, it also highlights critical challenges, such as the high use of hazardous chemicals (24% of processes), particularly pumice stones and potassium permanganate—practices that urgently require safer and more sustainable alternatives due to their negative effects on both the environment and worker health.

Progress in water consumption management is also considered, as this remains one of the key environmental challenges for the textile sector. The report shows that the current average water usage in denim finishing is 30 liters per garment—still above the recommended benchmark of 22.5 liters per garment. Effective strategies for reducing water consumption include optimizing rinsing processes, selecting fabrics that require less aggressive treatments, and implementing technologies such as ozone, e-flow, and smart foam systems.

Among the proposed improvements are also the adoption of advanced technologies to reduce chemical use and protect worker health, such as the strategic selection of ZDHC-certified chemicals and the automation and digitalization of manual processes.

Begoña García, creator of the EIM platform and co-author of the report, states: “For years, the textile industry has lacked reliable tools to measure its environmental impact, making data-driven decisions difficult. This report marks a crucial step toward transparency and continuous improvement, showing that technology is key to measuring and reducing environmental impact.”

The report aims to support informed decision-making based on verifiable data, positioning EIM as a global standard essential for transparency and ongoing sustainability improvements in the textile industry.
The full report is available for download and will be updated annually, serving as a vital tool for brands and suppliers to collaborate in reducing their environmental footprint and advancing toward a more responsible and sustainable production model.

The Lenzing Group, a leading provider of regenerated cellulose fibers for the textile and nonwoven industries, announces personnel changes in the company’s Managing Board. The Supervisory Board of Lenzing AG and Dr. Walter Bickel, Chief Transformation Officer of Lenzing AG, have mutually agreed to end the temporary mandate of Mr. Bickel and that Mr. Bickel will step down from his operational activities at the end of March 2025.

Mr. Bickel was appointed to the Managing Board of Lenzing AG as of April 15, 2024 to strengthen the Lenzing Managing Board and to be responsible for the further development and implementation of the performance program. Under his leadership, a significant overachievement of the planned contributions from the performance program could be realized. The basis for future significant improvement steps is established, and the program has been structured in a way that it can now be continued by Lenzing AG seamlessly.

The Lenzing Group’s holistic performance program pursues the overarching goal of significantly increasing long-term resilience to crises and greater agility in order to respond to market changes. The program initiatives are primarily aimed at improving EBITDA and generating free cash flow through increased profitability and sustainable cost excellence. Numerous activities are being undertaken to strengthen sales, such as acquiring new customers for the most important fiber types and expanding into new markets, which are already having a positive impact on sales. In addition, the Managing Board expects significant cost savings, of which more than EUR 130 m could already be realized in 2024.

In addition to the positive effects in the 2024 financial year on revenue development (+5.7 % increase in revenue compared to 2023) and earnings development (+30.4 % increase in EBITDA compared to 2023), the performance program also improved free cash flow to EUR 167.0 mn (compared to minus EUR 122.8 mn in 2023). Lenzing AG will continue to consistently implement the ongoing performance program with the aim of achieving annualized cost savings of over EUR 180 mn from the 2025 financial year onwards.

The Austrian specialist in plastics recycling systems and components, EREMA, has appointed a long-time employee as Global Sales Director: Christoph Wöss, previously Business Development Manager for the Bottle division, will take over the newly created position within the EREMA management team on April 1, 2025.

Christoph Wöss has been part of the EREMA Group for 24 years and possesses in-depth market knowledge. With his extensive experience, he is well-versed in the international markets and the specific requirements of the plastic recycling industry. In his new role, he will manage EREMA’s global sales activities and drive the company’s strategic development in the global market. In this context, Christoph Wöss will lead the international sales team and work closely with EREMA's global subsidiaries to strengthen the company's market presence.

Ontex Group NV, a leading international developer and producer of personal care products, announces that it has completed the divestment of its Brazilian business activities to Softys S.A., a personal hygiene company with operations across Latin America and a wholly-owned subsidiary of Empresas CMPC S.A., headquartered in Chile.

The transaction includes Ontex’s business in Brazil and its manufacturing facility in Senador Canedo in the State of Goiás. The business develops, manufactures, commercializes and distributes diapers and pants for the baby care market under the PomPom, Cremer, Sapeka and Turma da Mônica brands, as well as for the adult care market under the Bigfral brand. It employs approximately 1,400 employees.

Gustavo Calvo Paz, CEO of Ontex, said: “Reaching this milestone allows us to focus further on our retailer brands and healthcare in Europe and North America, where we have significant growth drivers for the future. Moreover, the proceeds from the sale will further reduce our indebtedness, putting us in an even stronger position to further execute our transformation. I am convinced that Softys is well placed to take the business forward, enabled by the talent and expertise of our teams.“

Aggregate net cash proceeds received at closing, net of cash/debt disposed, are €81 million, after the impact of tax-related and transaction costs, hedging expenses, as well as provisional balance sheet adjustments. On top of this amount, €18 million* will be put in escrow at closing.  The divestment proceeds will be used to reduce Ontex’s outstanding gross financial debt further.

FILTREX™ 2025, EDANA’s flagship event for the filtration industry, wrapped up last week after two dynamic days of discussions, technical advancements, and industry collaboration. This 10th edition brought together more than 100 professionals to explore the latest developments in air and liquid filtration, sustainability, and regulatory challenges.

Industry Insights and Key Conversations
The FILTREX 2025 conference brought together experts from across the filtration industry to discuss innovation, sustainability, and regulatory challenges shaping the sector. The event opened with a keynote by Dr.-Ing. Frank Möbius, Senior Innovation Advisor at UnternehmerTUM and former BMW Group Manager, highlighting the role of Open Innovation in maintaining competitiveness in an evolving market.

Throughout the sessions, industry leaders addressed major trends influencing filtration. Dr. Marc Schmidt (AAF-Lufttechnik) explored how economic and social shifts are reshaping filtration markets, while Anthony Lawson (Hengst Filtration) examined the impact of evolving air quality guidelines and PFAS restrictions on filter design. Experts such as Cédric Vallet (Ahlstrom) and Christof Keppler (Gessner) presented innovations in filtration efficiency, carbon footprint reduction, and the development of biodegradable filter media. Meanwhile, Dr. Pero Mićić (FutureManagementGroup AG) offered a strategic framework for future-proofing businesses against industry disruptions.

Spotlight on Sustainability in Filtration
Sustainability took centre stage at FILTREX 2025, with a dedicated round table that saw insights from Oswaldo Anaya (Freudenberg Performance Materials), Cédric Vallet (Ahlstrom), and Bruce Lorange (Hollingsworth & Vose). The discussions focused on how the industry can reduce its environmental impact while still delivering high-performance solutions. Oswaldo Anaya, Product Marketing Manager at Freudenberg Performance Materials, reflected on the event, saying, “I was glad to join this last edition of FILTREX. It confirmed the great things I’d heard from colleagues about previous events. Highly relevant and timely topics for the filtration industry, plus valuable networking in a relaxed setting.”

FILTREX™ Innovation Award 2025
A major highlight of the event was the FILTREX™ Innovation Award, which this year went to Johns Manville for its Evalith® product. Their groundbreaking recycling process transforms HVAC glass microfiber waste into compounded pellets for injection molding, turning waste into durable, second-life products. The award was presented during a Networking Evening Cocktail at Vienna’s Kunsthistorisches Museum, providing an ideal atmosphere for further discussions and potential collaborations.

PFAS-Free Filtration and Industry Innovation
The closing session tackled the critical topic of PFAS-free filtration, revealing solutions like high-performance PFAS-free HEPA media and nanofiber membranes that not only enhance performance but also reduce environmental impact. Industry leaders also discussed upcoming changes in PFAS regulations and the continued push for safer alternatives in the filtration industry.

Looking Ahead
FILTREX™ 2025 firmly established itself as the key event for the filtration industry, providing a platform for knowledge exchange, collaboration, and innovation. As Bruce Lorange, Global Marketing Communications Director at Hollingsworth & Vose, put it: “The recent FILTREX event in Vienna presented a unique opportunity to network, learn, see old friends, and make new ones in the filtration and nonwovens space. The quality of presentations was top-notch—informative and thought-provoking—and the venue provided the perfect backdrop for the thought leaders gathered to take our industry to the next level. A sincere thanks to the EDANA FILTREX team for arranging such an impactful event!”

Suominen’s Annual Report includes the Report by the Board of Directors including the Sustainability Statement, Financial Statements for 2024, the Auditor’s report, Assurance report on the Sustainability Statement, Corporate Governance Statement, Remuneration Report and Annual review.

Suominen’s sustainability statement is prepared in accordance with the Finnish Accounting Act, European Sustainability Reporting Standards (ESRS) and EU Taxonomy regulation.

Together with the Annual Report, Suominen publishes the Report by the Board of Directors and the Financial Statements as an xHTML file in accordance with European Single Electronic Format (ESEF) reporting requirements. In line with the ESEF requirements, the primary statements have been labeled with iXBRL tags and notes have been labeled with iXBRL block tags. The audit firm Ernst & Young Oy has provided an independent auditor's reasonable assurance report on Suominen’s ESEF Financial Statements. The assurance has been conducted in accordance with International Standard on Assurance Engagements ISAE 3000.