Half Year 2020 Results

SES S.A. announced financial results for the six months ended 30 June 2020. Solid H1 performance in line with expectations and continued underlying growth in Networks of +7.1% year-on-year([1],[2]) Revenue of EUR 947.5 million, -1.5% as reported with underlying revenue 2.4%(1,2) lower than H1 2019 Adjusted EBITDA([3]) of EUR 582.0 million, -2.3% as reported (-3.5% Read more about Half Year 2020 Results[…]

Metro sees rapid sales recovery in Q3 2019/20, reported EPS grows to €1.41 (PY €0.32)

. [[Previous year’s adjustment to continuing operations (without Real and METRO China) and due to full retrospective application of IFRS 16 (leasing agreements)] – Like-for-like sales decrease by -17.5% in Q3 2019/20 due to the effects of the COVID-19 pandemic – Clearly positive trend from April (-26.4%) to May (-19.4%) and to June (-6.7%) – Read more about Metro sees rapid sales recovery in Q3 2019/20, reported EPS grows to €1.41 (PY €0.32)[…]

Commerzbank generates profit for quarter in spite of corona – costs and capital on track

Underlying revenues in second quarter of 2020 increased to €2.3bn (Q2 2019: €2.1bn) – significant growth in net commission income Operating costs continue to fall to €1.53bn despite IT investments (Q2 2019: €1.58bn) Risk result at €-469m (Q2: 2019: €-178m) includes impact of €-175m from single case and coronavirus effects of €-131m Ongoing low NPE Read more about Commerzbank generates profit for quarter in spite of corona – costs and capital on track[…]

Schaeffler generates positive operating earnings in the 1st half of 2020 despite significant decline in revenue

. Revenue for 1st half of 2020 down 21.8 percent at constant currency due to coronavirus pandemic (prior year: 0.8 percent), second quarter shows gradual recovery, Greater China growth at 3 percent in 1st half of 2020 Operating earnings (EBIT before special items) positive at 65 million euros (prior year: 556 million euros), solid results for Automotive Read more about Schaeffler generates positive operating earnings in the 1st half of 2020 despite significant decline in revenue[…]

Increased profits and margins for Interroll

In the first half of 2020, leading global provider of material handling solutions Interroll recorded a decline in sales of -10.6% (-4.8% in local currencies) and a disproportionately strong increase in operating result (EBIT) of 3.5% and result (3.1%).   Order intake was CHF 263.4 million (-11.9%). Sales fell to CHF 233.2 million (-10.6%), driven Read more about Increased profits and margins for Interroll[…]

RWE to strengthen its European renewables business with acquisition of 2.7 GW project pipeline

Nordex has selected RWE as exclusive bidder for the acquisition of its European onshore wind and solar development business / Purchase price of about €400 million Strategic enhancement adds to RWE’s existing 22 GW development pipeline Expansion of position in attractive French onshore wind market Markus Krebber, CFO of RWE AG: ”The planned acquisition of Read more about RWE to strengthen its European renewables business with acquisition of 2.7 GW project pipeline[…]

BASF Group: EBIT before special items declines in second quarter due to weaker demand as a result of the corona pandemic

. Q2 2020: Sales of €12.7 billion (minus 12%), mainly due to lower sales volumes resulting from lockdowns EBIT before special items of €226 million (minus 77%) Net income of minus €878 million due to a non-cash-effective impairment of the shareholding in Wintershall Dea Cash flows from operating activities of €2.2 billion (plus €296 million Read more about BASF Group: EBIT before special items declines in second quarter due to weaker demand as a result of the corona pandemic[…]

Market attractiveness bonds: USA ahead of Emerging Markets ahead of Europe

The USA is the benchmark for the markets: the outlook is great on the equity side, but even more so for bonds. “US government bonds have not only shown excellent performance since the beginning of the year, they are also a first-class insurance instrument against periods of stress”, said Carsten Gerlinger, Vice President of Moventum Read more about Market attractiveness bonds: USA ahead of Emerging Markets ahead of Europe[…]

ABB to launch share buyback program

Following the completion of the divestment of its Power Grids business to Hitachi on July 1, 2020, and consistent with its overall capital structure optimization program, ABB will launch its previously announced share buyback program on July 23, 2020. As part of its plan to return to shareholders net cash proceeds of $7.6–7.8 billion from Read more about ABB to launch share buyback program[…]

First half of 2020: Kuehne+Nagel manages the crisis successfully

Operational excellence secures global supply chains Market share gains and high quality of service Careful capacity planning and active cost management Board of Directors schedules Extraordinary General Meeting on September 2, 2020; proposal of CHF 4.00 dividend per share from 2019 retained earnings In light of the challenges posed by the coronavirus pandemic and the Read more about First half of 2020: Kuehne+Nagel manages the crisis successfully[…]