Hugo Boss expects less growth - medium-term target could be delayed

METZINGEN - Fashion retailer Hugo Boss expects slower growth until 2025 due to the consumer slump and geopolitical tensions. The sales target of five billion euros for 2025 is also likely to be "slightly delayed", the MDax-listed company announced in Metzingen on Thursday. In the current year, Group CEO Daniel Grieder and CFO Yves Müller are aiming for growth of three to six percent to between 4.30 and 4.45 billion euros. Investors had hoped for more. The share fell by seven percent in the early stages

ROUNDUP: Conti sets its sights higher on the problem child of car deliveries - share falls

HANNOVER - The automotive supplier and tire manufacturer Continental is once again taking on more after significant improvements in the weakening automotive supply business last year. The savings program launched in the division is expected to provide a tailwind, as are higher sales prices and efficiency improvements. For the first time since 2019, the Hanover-based company was back in the black in this area last year. Conti CEO Nikolai Setzer was able to present a jump in profits for the Group as a whole on Thursday. Conti shares nevertheless fell.

ROUNDUP 2: Next GDL strike underway - Deutsche Bahn lets every fifth long-distance train run

BERLIN - The fifth industrial action by the German Train Drivers' Union has been underway since early Thursday morning and is once again affecting millions of passengers. "Our timetable, our basic train service, started this morning as planned," said railroad spokesman Achim Stauß in Berlin this morning. As with the previous strikes, the company has set up a severely restricted timetable. Around one in five long-distance trains is running.

ROUNDUP: Brenntag cautious for the new year - declines in 2023

ESSEN - After a decline in sales and earnings in 2023, chemicals trader Brenntag is taking a cautious view of the current year. The company expects the sequential recovery in sales to continue in 2024. The war in Ukraine, the conflict in the Middle East, geopolitical tensions and the slow decline in inflation continue to cause uncertainty regarding the global economy, the DAX-listed company announced in Essen on Thursday. For the current year, Brenntag therefore expects a slight decline in operating profit in the worst-case scenario. The share price fell by around three percent in the morning.

ROUNDUP: Strong demand for tickets gives Lufthansa one of its best years

FRANKFURT - The return of the desire to travel and higher ticket prices have given Lufthansa the third highest profit in its history in day-to-day business in 2023. However, further big leaps are not in sight. In the midst of the ground staff strike, CEO Carsten Spohr announced on Thursday in Frankfurt that the operating result for the current year would only be at the previous year's level. The rise in ticket prices should be over for the time being. And Lufthansa will not be offering as many tickets as before the pandemic again in 2024. However, shareholders can look forward to a dividend again.

ROUNDUP: Merck wants to gradually return to growth in 2024

DARMSTADT - After an unexpectedly long slump in demand, the pharmaceutical and specialty chemicals company Merck is hoping for a better run again. "We are now focusing on a gradual return to growth in the course of the 2024 financial year," said CEO Belen Garijo in Darmstadt, Germany, according to a statement issued on Thursday. "At the same time, we are defining our strategic roadmap to ensure Merck's long-term and sustainable growth." The share price recently rose moderately in pre-market trading.

GFT Technologies expects further growth in 2024

STUTTGART - Following setbacks last year, IT service provider GFT Technologies is aiming for stronger growth again in 2024. The SDax-listed company announced in Stuttgart on Thursday that revenue is set to increase by 15 percent to 920 million euros. Profit before taxes, on the other hand, is only expected to increase by six percent to 72 million euros. The figures also include the business of the core banking expert Sophos Solutions, which GFT acquired in February. The Sophos deal is expected to contribute 9.5 million euros to pre-tax profit. This means that the target for pre-tax profit is lower than analysts had expected, the company admitted.

Drägerwerk to increase dividend more than expected

LÜBECK - Shareholders of the medical and safety technology group Drägerwerk can look forward to a significantly higher dividend. The dividend for the preference shares listed on the SDax is to be increased from 19 cents for 2022 to 1.80 euros for the past year, the company announced in Lübeck on Thursday. Experts had expected the dividend to be increased, but not to this extent. For the ordinary shares, which are mainly owned by the Dräger family, the dividend is to rise to 1.74 euros after 13 cents for 2022.

Plant manufacturer Gea earns more operationally - higher dividend planned

DÜSSELDORF - Plant manufacturer Gea earned more operationally in the past year thanks to lower costs. "The year 2023 presented us with many challenges," said Group CEO Stefan Klebert in a statement on Thursday. Despite this, the company once again succeeded in improving its key financial figures. Earnings before interest, taxes, depreciation and amortization (EBITDA) and before restructuring expenses increased by 8.7 percent year-on-year to EUR 774.3 million in 2023, as the MDax group announced in Düsseldorf. The Group thus met both its own expectations and those of industry experts.

ProSiebenSat.1 will make more losses in 2023

UNTERFÖHRING - The television group ProSiebenSat.1 slipped deeper into the red last year due to lower revenues. The loss amounted to EUR 134 million, following a minus of EUR 49 million in the previous year, as the SDax company announced on Thursday in Unterhaching near Munich. As in the previous year, the Management Board nevertheless intends to pay shareholders a dividend of 5 cents per share. For the current year, it expects slight sales growth and - as already announced - an adjusted operating result at the same level.

Encavis confirms talks about possible takeover by KKR

HAMBURG - The wind and solar park operator Encavis has confirmed talks about a possible takeover by the US financial investor KKR. The MDax company announced on Wednesday evening that it had been in contact with KKR regarding interest in a possible transaction. However, the talks are still at a very early stage. There is no guarantee that a possible transaction will be proposed or carried out, it added.

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Further news

-ROUNDUP: Another Verdi warning strike started at Lufthansa

-Agreement reached in collective bargaining for Giessen and Marburg University Hospital

-Stricter EU rules for large digital platforms take effect

-Verdi warning strike leads to hundreds of stoppages at Munich Airport

-GDL boss Weselsky: Never lied

-Home office and construction crisis: Number of new office buildings almost halved

-Spanish Telefonica group wants to take German subsidiary off the stock exchange

-Behorde: No papers on Boeing's work on ripped-out fuselage part

-Grenke earns slightly more in 2023 - Dividend increases slightly

-ROUNDUP: Tesla production at a standstill until the end of next week after attack

-After real estate dent: financial services provider MLP aims to increase operating result

-Wind power replaces coal as the most important source of electricity generation

-ROUNDUP: Apple refuses to restart 'Fortnite' company Epic in Europe

-Deutsche Pfandbriefbank cancels dividend

-26 flight cancellations in Leipzig/Halle and Dresden on Thursday

Customer note:

ROUNDUP: You can read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/mis