ROUNDUP 2: Rheinmetall plans further strong growth - share price at record high

DÜSSELDORF - The armaments group and automotive supplier Rheinmetall intends to continue to grow significantly in the current year in view of bulging order books. "The course has been set for further growth and increasing profitability," said CEO Armin Papperger in Düsseldorf on Thursday. Last year, however, Rheinmetall fell short of its sales target. However, operating profit rose to a record level. Shareholders can look forward to a noticeably higher dividend. The shares rose to another record high.

ROUNDUP: BMW more profitable in 2023 as a whole - shares fall

MUNICH - Car manufacturer BMW was more profitable last year thanks to price increases and a shift in demand towards more expensive models. The Bavarians invested more and also put more money into research and development. The DAX-listed company initially failed to provide an outlook for the new year. There had recently been indications in the industry that the environment was deteriorating in view of high interest rates and a difficult economic situation. The share price fluctuated significantly and recently lost 1.9 percent.

ROUNDUP 2: K+S expects profit decline in 2024 - but analysts are convinced

KASSEL - The fertilizer group K+S expects a further decline in its operating profit in 2024. Nevertheless, the market should stabilize overall, the company announced on Thursday with the business figures for the past year. After the strong fluctuations in the past two years, Chairman of the Board of Executive Directors Burkhard Lohr sees "supply and demand in balance for 2024", according to the speech text. Despite larger supply volumes from major producers Russia and Belarus, there is unlikely to be an oversupply as demand will also increase. The share price rose significantly.

ROUNDUP: Lanxess expects moderate profit recovery - share under pressure

COLOGNE - After a slump in profits in 2023, Lanxess is aiming to slightly increase its operating result in the new year, also thanks to cost reductions. The destocking at customers, with the exception of agrochemicals, should be completed, said CEO Matthias Zachert in a statement on Thursday. Nevertheless, the environment remains difficult for Kolner, at least in the first half of the year, and a moderate increase in sales is expected from the second quarter onwards. According to the statement, the ongoing cost-cutting program should also provide a tailwind. The share came under pressure in the morning.

ROUNDUP: RWE confirms forecast and preliminary figures - investors relieved

ESSEN - The energy group RWE continues to expect pressure on earnings in 2024 due to the recent drop in electricity prices. The management confirms its forecasts, the company announced in Essen on Thursday morning. RWE had already announced a month and a half ago that in the current year only the lower end of the target range of 5.2 to 5.8 billion euros as adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) published in November on the occasion of a capital market day is likely to be achieved. This corridor continues to apply despite the sharp fall in electricity prices since then, the company said on Thursday. RWE also confirmed its preliminary figures and medium-term targets. The share price rose.

ROUNDUP: US financial investor KKR wants to swallow Encavis - Viessmann also involved

HAMBURG - The US financial investor KKR wants to take over the Hamburg-based wind and solar park operator Encavis. A consortium led by KKR is offering Encavis shareholders 17.50 euros per share, the company announced on Thursday morning. The family-owned company Viessmann is also involved as a co-investor. The Encavis share jumped by a good 26 percent.

ROUNDUP: RTL Group looks cautiously to 2024 - share price falls

LUXEMBOURG - The media group RTL Group is hoping for improvement after a difficult year. "Based on the current booking situation, we are currently assuming that RTL Germany will increase its advertising revenues by seven percent in the first quarter," said CEO Thomas Rabe in a conference call with journalists on Thursday. In 2024, however, operating profit should only increase slightly in the best-case scenario. On the stock market, the new targets led to a price slide: around midday, RTL shares fell by just under 6.8 percent to a low since 2020, extending their losses over the past twelve months to more than 30 percent.

ROUNDUP: Dermapharm looks cautiously into the future - missing Covid business

GRÜNWALD - The pharmaceutical manufacturer Dermapharm continued to grow last year. However, the declining Covid vaccine business with Biontech weighed on the operating result. The outlook for 2024 is also rather subdued: Although the management led by Group CEO Hans-Georg Feldmeier expects sales to increase once again, earnings in day-to-day business could rise or fall. On Thursday morning, the shares listed in the small-cap index SDax fell by 0.6 percent on this news.

Elmos wants to pay shareholders more dividends

DORTMUND - The chip company Elmos Semiconductor wants to pay its shareholders a higher dividend after a jump in profits for 2023. A dividend of 0.85 euros per share will be proposed, which is 10 cents more than in the previous year, the Group announced at the publication of its annual report in Dortmund on Thursday.

VW: 20,000-euro electric car coming in 2027

WOLFSBURG - Volkswagen plans to launch an electric car for 20,000 euros on the market for the first time in 2027. "The working title is ID.1 and the vehicle is planned for 2027," said brand boss Thomas Schäfer on Thursday at the digital annual press conference of the Group's volume group, which includes the Volkswagen, Skoda, Seat/Cupra and light VW Commercial Vehicles (VWN) brands. Schäfer said that the small car was intended to round off the lower end of the electric portfolio and offer "affordable electric mobility for everyone". The date was therefore deliberately set one year after the ID.2all planned for 2026 for under 25,000 euros. Automobilwoche had previously reported.


Further news

-Benko's lawyer rejects accusations against insolvent entrepreneur

-SAF-Holland wants to pay a higher dividend - cautious for 2024

-ROUNDUP 2: Warning strike by security staff prevents hundreds of departures

-ROUNDUP/Threatening change of ownership: Tiktok announces resistance

-Automotive supplier Webasto announces job cuts

-Schaeffler subsidiary Vitesco posts a loss and expects a decline in sales

-Altria wants to sell AB Inbev shares for up to 2.2 billion US dollars

-Drug group Stada grows - Financial investors consider exit

-ROUNDUP: Helaba aims for record profit in 2024

-Automotive supplier ElringKlinger seeks new supervisory board chairman

-EU Commission opens proceedings against online marketplace AliExpress

-Circles: Bayer considers legal maneuver for US glyphosate lot

-Solar manufacturer Meyer Burger stops module production in Freiberg°

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.