ROUNDUP 3: Siemens Energy expects another billion-euro loss in wind business

MUNICH - The energy technology group Siemens Energy posted a record loss in the billions in the past fiscal year. This is due to the problems in the wind power business, which regularly wreak havoc on Siemens Energy's balance sheet. The management team led by CEO Christian Bruch also expects Siemens Gamesa to post a high loss for the new 2023/24 financial year (as at the end of September). Wind power is not expected to break even until 2025/26 - two years later than originally planned.

ROUNDUP 2: Infineon wants to increase sales - skepticism about earnings

NEUBIBERG - Chip manufacturer Infineon is confident of further growth for the new 2023/2024 financial year after a surprisingly good year-end spurt. Although sales in the twelve months to the end of September are likely to increase, less of this is likely to remain with the Group as operating profit than recently. "Overall, we expect further, albeit lower, sales growth for the 2024 financial year," said CEO Jochen Hanebeck in a statement on Wednesday. The news was nevertheless well received on the stock market.

'MM': China's online giant with interest in Ceconomy entry

HAMBURG - According to a press report, the Chinese online retail giant is talking to existing shareholders about an investment in the Mediamarkt and Saturn parent company Ceconomy. The Chinese company has been in talks with the investment company Haniel since the summer about the latter's 16.7 percent stake, "Manager Magazin" ("MM") reported on Wednesday, citing insiders. Initially, the parties involved had talked past each other for a long time, but now things are gradually getting serious, with Deutsche Bank involved as an advisor. According to the report, Haniel did not wish to comment on the information. The Ceconomy share price rose by twelve percent on the Tradegate trading platform compared to the Xetra close.

ROUNDUP 2: GDL strikes from Wednesday - Less than every 5th long-distance train in operation

BERLIN - Due to the warning strike by the train drivers' union GDL from late Wednesday evening, Deutsche Bahn expects more than 80 percent of all long-distance train journeys to be canceled. However, an emergency timetable has been set up, said railroad spokesman Achim Stauß. The digital timetables should be up to date by midday. Long trains in particular would be used in order to offer as many seats as possible.

Südzucker expects a strong fall - confirms annual forecast

MANNHEIM - Due to a strong development in the sugar segment, Südzucker expects a significant increase in earnings for the current financial quarter. The SDax-listed company announced in Mannheim on Wednesday that consolidated operating profit for the months of September to November should be significantly higher than the previous year's figure of EUR 220 million. There was not enough time for more optimistic statements about the 2023/24 financial year, but the Executive Board confirmed the known forecast. This was well received on the stock market.

Ethanol prices fall sharply: Südzucker subsidiary Cropenergies cuts annual targets

MANNHEIM - The biofuel producer Cropenergies

Alstom considers capital increase and wants to cut 1500 jobs - share plummets

SAINT-OUEN-SUR-SEINE - The rail vehicle manufacturer Alstom wants to reduce its debt by selling parts of the company and possibly also by increasing its capital. The plan is to reduce net debt by two billion euros by March 2025, the management announced on Wednesday in Saint-Ouen-sur-Seine. Part of the plan is also the reduction of around 1,500 full-time positions - almost ten percent of administrative and sales positions. Although the cost-cutting efforts were well received by analysts, fears of a share dilution weighed on the share price.

ROUNDUP: Dermapharm grows thanks to new subsidiary - nutritional supplements in demand

GRÜNWALD - Business is still flourishing at pharmaceutical manufacturer Dermapharm after nine months. The SDax company benefited from the good performance of its new subsidiary Arkopharma and increased demand for dietary supplements and herbal extracts. Although this led to a strong increase in turnover, the Group was unable to fully compensate for the discontinuation of vaccine production for the Mainz-based manufacturer Biontech in terms of earnings. As a result, profitability fell significantly. However, analysts were positively surprised by the results and the share price rose significantly on Wednesday.

ROUNDUP: SFC Energy becomes even more optimistic for 2023 - share price rises

BRUNNTHAL - Fuel cell supplier SFC Energy has again raised its forecast for the current year due to continued high demand. In view of the expected deliveries and the current order backlog for the fourth quarter, management expects even higher sales for 2023. In addition, the operating result is expected to reach the upper end of the previously targeted range, as the company announced in Brunnthal near Munich on Wednesday. Investors responded positively to the news.

Renault targets ten billion euros in sales with electric subsidiary Ampere in 2025

BOULOGNE-BILLANCOURT - The French car manufacturer Renault wants to achieve annual sales of more than ten billion euros in two years with its electric car and software division Ampere. The subsidiary, which has been earmarked for a partial flotation, should continue to grow strongly thereafter and generate more than 25 billion euros in revenue by 2031, Renault announced on Wednesday in Boulogne-Billancourt near Paris. This would mean average annual growth of more than 30 percent per year in the period from 2023 to 2031. In 2025, the business should break even operationally and generate a positive cash inflow, and Renault CEO Luca de Meo is aiming for an operating margin of over ten percent from the end of the decade.

ROUNDUP 2: Grand City Properties with rental growth - financing costs depressed

LUXEMBOURG - Aroundtown subsidiary Grand City Properties increased its rental income in the first nine months of the year thanks to strong demand for residential space. However, higher financing costs weighed on the operating profit (FFO1) in the reporting period. The real estate group confirmed its targets for the year as a whole. The share price rose significantly in early trading, but then turned negative. Most recently, the share lost just under 0.8 percent to 9.19 euros.


Further news

-Schaeffler maintains offer price for Vitesco takeover

-'Marginal relief' - IG Metall still wants bridge electricity price

-SPD parliamentary deputy: Wood and pellet heating systems are also in demand

-ROUNDUP: From boom to slump? No modernization push for heating systems in sight

-ROUNDUP: Deutsche Bahn cancels second round of collective bargaining with GDL after warning strike announcement

-New attempt by DFL for investor - Vote on December 11

-Environmentalist database: Oil and gas companies are expanding rapidly

-Nato gets new Boeing reconnaissance aircraft

-Holcim divests businesses in Uganda and Tanzania

-NGG management trio confirmed in office - Zeitler remains Chairman

-Kehl bans Brandt from transfer: Not an issue at all

-Closed pharmacies in the West - Protest for higher fees

-New criticism of Musk's X-platform from sued researchers

-1000 euro bonus: Fraport employees can recruit acquaintances

-Conti rival Goodyear plans parts sale and cost-cutting program - Debt reduction

-ROUNDUP: Ports demand more money from the federal government: 'Words must be followed by deeds'

-After protests: number of flights in Amsterdam not reduced

-Roche reports positive study results with antihypertensive drug Zilebesiran

-ROUNDUP/Environmental hormones in everyday life: When the teddy bear becomes a danger

-Cooperation Microsoft/OpenAI currently not a case for merger control

-Diesel 5 cents cheaper - again cheaper than E10

-RTL manager Schmitter moves to the top of RTL Germany

-Magma on Iceland approaches the earth's surface

-ROUNDUP/Collaboration is in place: Payback points via Sparkasse Girocard from 2025

-Roche also receives approval for cancer drug Columvi in Switzerland

-Robotaxi company Cruise takes all cars off the road

-Container throughput in the port of Hamburg increased in the third quarter

-Court overturns verdict in UBS tax case

-Increased demand for buses and rental cars due to warning strike

-Airbnb buys start-up from Siri co-founder

-Women politicians push for compensation for Postbank customers

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.