Drastic decline in air travel significantly affects Lufthansa Group’s quarterly result

Lufthansa Group concludes first quarter with adjusted EBIT of minus 1.2 billion euros Fixed cost development in line with target of a reduction by one third given in March Restructuring necessary to repay loans and deposits as quickly as possible Capacity will increase from 3 percent of original planning in May to up to 40 Read more about Drastic decline in air travel significantly affects Lufthansa Group’s quarterly result[…]

Weltweite Führungskräftestudie: Zusammenhang zwischen Customer Experience und Umsatz

. Fast die Hälfte der Befragten beurteilt Customer Experience des eigenen Unternehmens als wenig erfolgreich Angesichts der anspruchsvollen Herausforderungen vor denen Unternehmen heutzutage stehen, bekräftigen Führungskräfte weltweit die entscheidende Bedeutung der Customer Experience für den Geschäftserfolg – 82% der Befragten sehen einen direkten Zusammenhang zwischen Umsatzwachstum und Customer Experience. Kritisch für den Unternehmenserfolg sind Anwendungen, Read more about Weltweite Führungskräftestudie: Zusammenhang zwischen Customer Experience und Umsatz[…]

COVID-19 interrupts long-term growth path; forecast for the current financial year challenging – hoping for trend reversal in the last quarter

Revenues at 64.6 million euros , minus 9 % (Q2-YTD 18/19: 70.9 million euros) Industrial Automation segment grows by 14 % Earnings margins remain positive: (Unless stated otherwise, the EBITDA, EBIT and EBT figures included in this document are adjusted for one-time transaction costs). EBITDA minus 7 %, margin at 35 % to revenues and Read more about COVID-19 interrupts long-term growth path; forecast for the current financial year challenging – hoping for trend reversal in the last quarter[…]

Asian news media enterprises embark on a five-month transformation programme.

Amid a Covid-19 pandemic that has crippled global economies and is threatening the future of the media industry, 10 news media companies from six Asian cities are embarking on WAN-IFRA’s inaugural Newsroom and Business Transformation 2020 programme. This first-of-its-kind programme for Asian news organisations brings together one senior editorial and one senior commercial executive from Read more about Asian news media enterprises embark on a five-month transformation programme.[…]

Innovation and Resiliency Drive Dell Technologies‘ First Quarter Fiscal 2021 Financial Results

Dell Technologies effectively navigates COVID-19 environment with innovative products, broad capabilities, flexible supply chain and resilient global workforce First quarter revenue of $21.9 billion Operating income up 28% to $702 million, non-GAAP operating income of $2.2 billion Client Solutions Group revenue up 2% to $11.1 billion; VMware revenue up 12% Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2021 first quarter. First quarter Read more about Innovation and Resiliency Drive Dell Technologies‘ First Quarter Fiscal 2021 Financial Results[…]

Knorr-Bremse kicks off 2020 successfully in a challenging environment

Business performance in the first quarter of 2020 impacted by Covid-19, first in Asia, then in Europe and North America Buoyant aftermarket business underlines resilience of business model Solid development: revenues down just -7.3% to EUR 1,627.5 million Robust profitability levels thanks to early action: EBITDA margin of 17.8% compared with 19.0% (Q1 2019), more Read more about Knorr-Bremse kicks off 2020 successfully in a challenging environment[…]

Fraport AGM 2020: Shareholders approve all agenda items

At Fraport AG’s first virtual-only Annual General Meeting (AGM) today, shareholders approved all agenda items.   Shareholders ratified the actions of the company’s executive and supervisory boards for fiscal year 2019, by 99.94 percent and 98.19 percent respectively.  Furthermore, 99.98 percent of the shareholders approved the proposal to suspend the dividend for fiscal year 2019. Read more about Fraport AGM 2020: Shareholders approve all agenda items[…]

Fraport AGM 2020: Executive and Supervisory Boards Report to Shareholders Virtually for the First Time

Shareholders submitted 51 questions – Suspension of dividend recommended – Karlheinz Weimar retires as Supervisory Board chairman – Hesse’s finance minister Michael Boddenberg standing for election to the Supervisory Board – AGM to decide on new remuneration system for the Executive Board  Fraport AG’s regular Annual General Meeting (AGM) for shareholders began today at 10:00 Read more about Fraport AGM 2020: Executive and Supervisory Boards Report to Shareholders Virtually for the First Time[…]

Consolidated financial statements 2019 so far without material findings

The audit firm Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft has informed Wirecard AG that all foreign auditors have meanwhile been able to finalize their audit procedures for Group purposes. Within the scope of the completed parts of the audit procedures, Wirecard has not yet been informed of any material findings. However, not all audit procedures have Read more about Consolidated financial statements 2019 so far without material findings[…]

Beware! Foreign Partners in Partnerships Located in the US

Foreign companies must consider many issues in their tax planning if they are in partnership with companies based in the United States and want to sell shares. IRC (Internal Revenue Code) section 1446(a) imposes a US withholding tax on foreign partner’s distributive share of income from the partnership (foreign or US domestic partnership), if the Read more about Beware! Foreign Partners in Partnerships Located in the US[…]