ROUNDUP: Allianz increases profit strongly despite natural catastrophes

MUNICH - The insurance group Allianz made more profit last year despite higher losses from natural catastrophes. The group benefited from a good development in the life and health insurance business. Shareholders are to receive a higher dividend. The insurer is also planning a new share buyback program. The share price fell by around two percent at the start on Friday.

ROUNDUP 2: BASF launches cost-cutting program worth billions and plans job cuts

LUDWIGSHAFEN - Outgoing BASF Group CEO Martin Brudermüller is leaving a difficult legacy to his successor. At his last presentation of the annual figures of the world's largest chemical company, the 62-year-old announced a further cost-cutting program worth billions and further job cuts at the main plant in Ludwigshafen. The largest production site in the BASF Group is to be reorganized, Brudermüller said on Friday in Ludwigshafen. After early gains of up to four percent, the share price turned negative. The share price was last down 1.63 percent at 46.08 euros.

ROUNDUP: Telekom wants to become even more profitable after revenue decline

BONN - Deutsche Telekom achieved a leap in profits last year despite a decline in revenue. While unfavorable exchange rate effects and the sale of the majority stake in the radio tower business weighed on earnings, the latter in particular was responsible for the huge increase in the bottom line. Group CEO Tim Hottges has set himself ambitious targets for 2024: both operating profit and free cash flow are to increase significantly. Investors were less enthusiastic in early trading: Deutsche Telekom shares slipped by a good two percent at the start.

ROUNDUP: Executive Board restructuring and risk of strike at Lufthansa - shares under pressure

FRANKFURT/Cologne - Deutsche Lufthansa is surprisingly replacing almost its entire management. Four of the six Executive Board members are leaving the Group almost simultaneously. In addition, the Supervisory Board is eliminating one Executive Board position entirely. Only the Chairman of the Executive Board, Carsten Spohr, and the former Chief Human Resources Officer, Michael Niggemann, will remain. In addition, the airline is threatened by a strike by cabin crew - and thus probably numerous flight cancellations once again. As a result, Lufthansa shares fell significantly on Friday.

ROUNDUP 2: Hensoldt disappoints with forecast - share brings up the rear in the MDax

TAUFKIRCHEN - The defense electronics group Hensoldt expects further growth in the current year in view of the increasing wars and conflicts in the world. Hensoldt is targeting sales of around two billion euros for 2024, as the MDax company announced in Taufkirchen on Friday. However, analysts had hoped for an average of almost 2.2 billion euros more. Of the revenue, 19 to 20 percent is expected to be retained as adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA). In addition, incoming orders are expected to increase significantly faster than sales. The share price fell by almost nine percent at its peak.

ROUNDUP: Vitesco earns surprisingly much before Schaeffler takeover

REGENSBURG - The automotive supplier Vitesco earned significantly more than expected in its day-to-day business at the end of the year. However, the weak industry sentiment surrounding electric cars slowed down business in the declared future-oriented division with components for electric drives, as the Regensburg-based company announced on Friday. Vitesco also did not perform quite as well in terms of orders as in the previous year, which was strong in this respect. The share price rose. Vitesco is about to be taken over by industry rival Schaeffler.

ROUNDUP 2: Solar manufacturer Meyer Burger plans to close plant in Saxony

FREIBERG - First there were threats, now it's official: the solar company Meyer Burger wants to close its plant in Freiberg, Saxony. The closure is to take place in stages, the Swiss company announced on Friday. Initially, production will cease in the first half of March. The company expects to make considerable savings from April onwards. The closure will then come into effect at the end of April.


Further news

-IPO/ROUNDUP: Online platform Reddit pushes ahead with boron plans

-Apple defends itself against European antitrust allegations

-New EU anti-money laundering authority to be based in Frankfurt in future

-Fridays for Future: 'Strikes in local transport are also climate strikes'

-EU Commission plans further relief for farmers

-Özdemir in favor of implementing relaxed EU environmental regulation with compensation

-ROUNDUP: Commission recommends increasing the broadcasting fee to 18.94 euros

-Legislative reform for a better rail network

-ROUNDUP 3: US company achieves first commercial landing on the moon

-TV marketing and merchandising: Borussia Dortmund with revenue and profit jump

-Lauterbach appeals for support for cannabis approval

-Majority of Germans in favor of more weapons and ammunition for Ukraine

-Prison sentences in the trial for precious metal thefts at Aurubis

-Strike at the Eiffel Tower continues until the weekend

-Before NATO vote: Hungary buys new fighter jets from Sweden

-Federal Minister: Extend training of Ukrainian soldiers

-South Korea sees serious situation for health services due to doctors' protest

-ROUNDUP/Think tank: EU countries must do more for citizens' financial knowledge

-New car label to provide car buyers with better information from May

-Meyer Burger announcement: Saxony's energy minister warns of dependence on China

-Polish farmers plan to blockade the A12 highway near the German border

-Lufthansa Technik and Rolls-Royce expand maintenance plant for engines

-German government wants to improve framework conditions for the solar industry

-Independent UN experts call for arms embargo against Israel

-Survey: 42 percent in favour of cannabis legalization°

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