ROUNDUP: Commercial kitchen equipment supplier Rational optimistic for 2024 - share price rises

LANDSBERG - After a strong year, commercial kitchen equipment supplier Rational is targeting further growth with continued high profitability. In 2024, sales and turnover are expected to increase by a mid to high single-digit percentage compared to the previous year, as the company announced on Wednesday when presenting its detailed figures for the past year in Landsberg. The Group, which expects to return to the MDax in June, is therefore somewhat more optimistic than the experts surveyed by Bloomberg. On average, they expect an increase of just under five percent. Rational shares rose significantly.

Fashion chain H&M reduces inventories and earns surprisingly much

STOCKHOLM - Fashion retailer Hennes & Mauritz (H&M) has performed unexpectedly well in the first quarter of the financial year. The operating result climbed to 2.08 billion Swedish crowns (181 million euros) in the three months to the end of February, as the Swedes announced in Stockholm on Wednesday. This was almost three times the figure for the same period last year. Analysts had previously expected a profit of 1.3 billion Swedish kronor. The surplus attributable to shareholders rose to 1.2 billion kronor, more than twice as much as a year earlier. The share gained 12 percent after the start of trading in Stockholm.

ROUNDUP: Süss Microtec expects more business thanks to AI boom - share price falls

GARCHING - The semiconductor industry supplier Süss Microtec expects a surprisingly high level of revenue in the current year thanks to a record high order backlog. According to CEO Burkhardt Frick, the bonder business in particular is expected to drive growth. This is benefiting from the strong capacity expansion in the industry for the production of chips for artificial intelligence (AI). The Management Board also expects the operating margin to improve this year. However, the shares of the SDax group fell in the morning after the good run of the past few months.

ROUNDUP: ProSiebenSat.1 rejects the idea of splitting up Berlusconi's company MFE

UNTERFÖHRING - ProSiebenSat.1 rejects the demand of MFE, the major Italian shareholder controlled by the Berlusconi family, for a split-up. Supervisory Board Chairman Andreas Wiele told Deutsche Presse-Agentur: "It is difficult for us to see any positive aspect of this spin-off."

ROUNDUP 2: Aroundtown expects a decline in earnings - no dividend again

LUXEMBOURG - The commercial real estate specialist Aroundtown is expecting a significant decline in operating profit in the current year, partly due to the sale of properties. The company is also struggling with higher interest rates on loans. Last year, the company even posted a loss of billions on the bottom line. Due to the difficult general economic situation, the management once again does not intend to pay a dividend.

Defense supplier Renk expects further tailwind in 2024 - shares at record high

AUGSBURG - The armored gearbox manufacturer Renk expects business to continue to shine in 2024 in view of full order books. At the turn of the year, the order backlog was higher than ever before at 4.6 billion euros, as the Borsen newcomer announced in Augsburg on Wednesday. Following an increase in turnover and profit last year, CEO Susanne Wiegand expects further growth in 2024. "The high global demand for a return to fully equipping the armed forces gives us a tailwind and will remain a driver of our growth in the future."

ROUNDUP: Jenoptik increases dividend - targets further sales growth

JENA - The technology group Jenoptik intends to pay its shareholders a higher dividend for 2023. Investors are to receive 35 cents per share, 5 cents more than a year earlier, as the MDax-listed company announced on Wednesday in Jena on the presentation of its final annual figures. On balance, the profit attributable to shareholders increased by almost a third to around 72.5 million euros. Jenoptik had already announced key figures in February, which the Group has now confirmed. The company specified its annual targets for 2024. The share lost around 3.9 percent to 28.84 euros in afternoon trading, making it one of the biggest losers in the mid-cap index.

ROUNDUP: Financial group W&W hit hard by storms - profit prospects bleak

KORNWESTHEIM - High insurance claims have caused the financial group Wüstenrot & Württembergische (W&W) to suffer a slump in profits last year. Consolidated net income plummeted by around 41 percent to 140.5 million euros, as the Kornwestheim-based company announced on Wednesday. The Group thus met its own forecast. However, the Executive Board had revised this downwards significantly in the fall due to the high storm damage.

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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