Deutsche Borse: Double-digit sales and earnings growth by 2026

FRANKFURT/ESCHBORN - Deutsche Borse is raising its turnover and profit expectations for the coming years. Overall, the company expects average annual growth in net proceeds of around ten percent compared to 2022 to around 6.4 billion euros in 2026, as the DAX-listed group announced at an investor conference on Tuesday. The Frankfurt-based market operator plans to increase its operating profit (EBITDA) by an average of around eleven percent annually to around EUR 3.8 billion up to and including 2026. The share price rose significantly at midday and was at the top of the Dax with a gain of more than two percent.

ROUNDUP: Spanish Telefónica wants to take over its German subsidiary completely

MADRID/MUNICH - The Spanish telecommunications group Telefónica wants to completely take over its German subsidiary known under the brand name O2. On Tuesday, the company surprisingly announced an acquisition offer for up to 28.19 percent of the share capital. Telefónica currently already holds 71.81 percent of the shares. The company intends to concentrate on its core markets, where Germany is one of the "most attractive and stable telecommunications markets in Europe". According to its own statements, the bidder does not intend to conclude a domination or profit and loss transfer agreement. Telefónica Deutschland is one of the three cell phone network operators in Germany, its major competitors being Deutsche Telekom and Vodafone.

ROUNDUP: Daimler Truck sees normalization of demand - shares lose ground

LEINFELDEN-ECHTERDINGEN - The commercial vehicle manufacturer Daimler Truck is increasingly confronted with a declining order situation. Demand is normalizing and the order backlog is declining, the Swabian company said on Tuesday. In the third quarter, incoming orders were again significantly below the previous year's figure. Despite lower sales volumes, the Group was able to increase turnover and profit from day-to-day business - the development of sales prices further compensated for the headwind from the cost side. CEO Martin Daum also demonstrated confidence for the coming year in terms of prices and demand. However, the share price fell significantly at the end of the Dax.

ROUNDUP 2: Travel demand brings Fraport record profit in summer - share price rises

FRANKFURT - The return of the travel bug has brought Frankfurt airport operator Fraport the most lucrative quarter in its history this summer. At its airports abroad, the Group counted as many passengers as before the coronavirus crisis, but Frankfurt Airport is not expected to reach this level again until 2025 or 2026. In contrast, Fraport CEO Stefan Schulte wants to achieve a record operating profit (EBITDA) this year. The news was received positively on the stock market.

ROUNDUP: Credit Suisse integration drags UBS into the red - share price rises

ZURICH - The major Swiss bank UBS has suffered a high loss in the third quarter due to the integration of the acquired Credit Suisse. Due to the billion-euro special costs, the bottom line was a loss of 785 million US dollars (731 million euros), as UBS announced in Zurich on Tuesday. In day-to-day business, however, the bank performed better than expected. The news was accordingly well received on the stock market.

ROUNDUP: Primark parent AB Foods increases share buybacks and dividend

LONDON - The Primark parent company AB Foods wants its shareholders to participate in the good business of the past months. Shares worth 500 million pounds (577 million euros) are to be bought back again in the new financial year, Associated British Foods announced in London on Tuesday. The group recently completed a program with the same volume. AB Foods also intends to pay a dividend totaling 60 pence per share (including a special dividend) for the 2022/2023 financial year, which ended on September 16, compared to 43.7 pence a year earlier. The Group has performed better than the market expected in recent months.

ROUNDUP: Engie raises annual targets - all-clear for offshore wind power projects

PARIS - The French energy group Engie continues to benefit from the strong demand for electricity generated from renewable sources. According to a statement issued on Tuesday, the management has once again raised its annual targets following a surprisingly good third quarter. In contrast to its competitors, Engie was also not affected by high burdens due to problems with wind power projects in the UK and the USA. The share price rose.

ROUNDUP: Adtran Holdings skeptical about fourth quarter - no dividend

HUNTSVILLE - The US telecoms equipment supplier Adtran Holdings expects business to remain weak and is therefore no longer paying a dividend for the time being. The US company, which is listed on the SDax, has also announced cost-cutting measures to get the problems under control. In the current fourth quarter, sales and margins are likely to fall well short of experts' expectations, as the US company announced on Tuesday night in Huntsville (Alabama) when presenting its detailed figures for the third quarter. The dividend cut also came as a surprise to experts. They had previously expected a quarterly dividend of nine cents per share. Shares in the telecoms equipment manufacturer fell by more than ten percent in early trading.

ROUNDUP: Weak demand continues to weigh on Evonik - outlook confirmed

ESSEN - The sluggish global economy continued to cause problems for the chemicals group Evonik in the third quarter. "The global economic recovery is still a long time coming," said Group CEO Christian Kullmann in a statement on Tuesday. Cost-cutting measures can only compensate for this to a limited extent, even though operating profit developed better than analysts had expected. However, the bottom line is a loss of almost 100 million euros, partly because the MDax group had to write down 233 million euros on its business with superabsorbents - highly absorbent materials for diapers, for example. The extent to which this is related to the planned sale of the business was initially unclear.

ROUNDUP: Schaeffler earns more than expected - share price rises despite weakness in China

HERZOGENAURACH - The automotive and industrial supplier Schaeffler has earned more than experts expected in the third quarter. Despite a slump in business in Greater China, management confirmed the outlook at Group level for the 2023 financial year - thanks in particular to good growth in the most important market, Europe.

Faurecia subsidiary Hella sees itself on course for annual targets

LIPPSTADT - The automotive supplier Hella has confirmed its forecast for the full year following a significant increase in sales and a higher operating result in the first nine months. "We are still on course to achieve our targets," said Group CEO Michel Favre in Lippstadt on Tuesday. "We expect record sales and a significant improvement in profitability." Adjusted for currency and portfolio effects, the subsidiary of the French group Faurecia expects sales to be in the middle of the range of 8.0 to 8.5 billion euros. The operating margin is expected to be between 5.5 and 7.0 percent, also in the middle of the range.

Hochtief increases profit - forecast for 2023 confirmed

ESSEN - The construction group Hochtief earned more in the first nine months. In particular, the North America and Europe regions and the business of the Spanish highway operator Abertis, in which Hochtief holds a stake of around 20 percent, are performing significantly better. The company announced in Essen on Tuesday that consolidated net profit adjusted for special effects had risen by 5.9 percent year-on-year to 403.1 million euros in the first nine months.

^

Further news

-ROUNDUP: Rational flirts with better margin - Order situation normalized

-Deutsche Borse announces share buyback for 300 million euros

-Adtran Networks with expected weak business - forecast confirmed

-ROUNDUP: Office space provider WeWork files for insolvency

-Telefonica Deutschland with more new customers than at any time since the end of 2021

-Eva Air orders Airbus wide-body jets

-ROUNDUP: Company patriarch Grupp hands over sceptre to daughter and son

-Cartel office says yes to chip factory investment by Bosch and Infineon

-'Action plan': Germany to become 'driving force' in AI research

-12.2 minutes of power outage per consumer in Germany - grid agency satisfied

-ROUNDUP: Industrial union IGBCE demonstrates for bridge electricity price

-Expert: Chinese car companies could build plants in Europe

-'Fortnite' makers and Google fight in court

-ROUNDUP: Chatbot ChatGPT can answer more current questions

-Hacker attack on Berlin luxury department store KaDeWe

-Head of Hamburg Airport: Structural measures to increase security

-Fuel cell supplier SFC Energy receives order worth millions from Canada

-Consumer centers warn of more expensive Germany ticket

-Storage association does not want to rule out a gas emergency in extremely cold weather

-Transport industry still sees unanswered questions regarding the Deutschlandticket

-ROUNDUP: Hackers attack Berlin luxury department store KaDeWe

-Materials company Outokumpu closes sites in Germany

-ROUNDUP: Rail industry with record sales - Competitors demand more new construction

-Süddeutsche' enters the newsletter business for specialist audiences

-Judge confiscates 780 million euros in tax dispute with Airbnb

-Minister: Germany ticket will not become more expensive until the end of April

-British government wants to make future generations smoke-free°

Customer Tip:

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

/jha