ROUNDUP: Lanxess cuts profit expectations and dividend - shares plummet

COLOGNE - The specialty chemicals group Lanxess is being hit even harder by the industry slump than before. On Monday, the management led by CEO Matthias Zachert once again cut the outlook for operating profit due to even weaker than expected demand in the fourth quarter and intends to reduce the dividend. Koln has been suffering from weak demand in the industry and high energy costs for some time now. The shares, which were already performing poorly this year, fell sharply.

ROUNDUP: Ryanair promises profit jump and dividends - share price rises

DUBLIN - After a strong summer, the rise in ticket prices is making Europe's largest low-cost airline Ryanair optimistic for the current financial year. In the twelve months to the end of March 2024, net profit is expected to reach 1.85 to 2.05 billion euros, the company announced in Dublin on Monday. After a profit of 1.3 billion euros in the previous year, Ryanair CEO Michael O'Leary had not yet dared to make a forecast. The rise in kerosene prices and delays at aircraft manufacturer Boeing are somewhat clouding the rosy outlook. However, Ryanair's top management wants shareholders to participate in the company's success for the first time with regular dividends.

ROUNDUP: Biontech expects lower sales with corona vaccine

MAINZ - The biotechnology company Biontech, like other manufacturers, is struggling with declining sales of Covid-19 vaccines. The company has now lowered its forecast for revenue from Covid-19 preparations. Unlike its US partner Pfizer or its US competitor Moderna, however, the Mainz-based company posted a profit at the end of the third quarter.

'FAZ': Chemicals division of Merck KGaA to save up to 90 million euros

FRANKFURT - According to a press report, the pharmaceutical and chemical group Merck KGaA could cut further jobs. The Chemicals division is to reduce costs by up to 90 million euros, reported the "Frankfurter Allgemeine Zeitung" (Monday edition), citing a memo to employees from Kai Beckmann, member of the Executive Board and responsible for the Electronic Chemicals business. Merck confirmed the authenticity of the document upon request.

Krones optimistic for 2024

FRANKFURT - Filling and packaging equipment manufacturer Krones is optimistic about the coming year. "I expect growth in 2024 to be on a par with the current year," company boss Christoph Klenk told the Borsen-Zeitung newspaper (Saturday edition). He still does not expect a slump in incoming orders. "There are virtually no cancellations for next year either". In addition, the profit margin will improve in 2024.

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Further news

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-Unesco draws up strategy for regulating digital platforms

-Schwesig against raising VAT again in the catering sector

-German Hospital Association calls for immediate aid for clinics

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-South Korea wants to launch its own spy satellites into space

-ROUNDUP 2: Telekom improves its cell phone network on the highway

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-Airline association: Long-haul flights from BER often not economical

-Pediatric drugs - Supply of antibiotics stable according to authorities

-Price increase for Germany ticket? Wüst warns of possible consequences

-Insolvent robotics start-up Franka Emika is sold

-Mika Beuster is the new federal chairman of the DJV

-Storm puts France's oyster farmers under severe pressure°

Customer note:

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

/jha