ROUNDUP 2: Siemens Energy raises forecast - restructuring plan for wind business

MUNICH - The ailing energy technology group Siemens Energy is slowly getting back on track. The Munich-based company is benefiting from a significant increase in demand in the electricity market. The grid business in particular is growing rapidly. After a better-than-expected second quarter, the company, which had lost confidence on the stock market in the past due to numerous profit warnings, raised its forecast for the current financial year.

ROUNDUP: Munich Re expects prices to remain high - share price rises

MUNICH - Munich Re, the world's largest reinsurer, is not getting overconfident despite a high billion-euro profit in the first quarter. Whether the Board of Management will reach its profit target of 5 billion euros

ROUNDUP: Auto1 raises profit target - share takes off

BERLIN - The online used car dealer Auto1 has raised its forecast after a strong first quarter. The Group now expects earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects to be between 20 million euros and 40 million euros in the current year. Previously, the Group had only held out the prospect of reaching the operating break-even point. The increased forecast was celebrated on the stock market with a fireworks display.

US chip manufacturer Intel becomes somewhat more cautious due to new Huawei sanctions

SANTA CLARA - Chip manufacturer Intel is taking a somewhat more cautious approach to its business outlook due to sanctions against Chinese electronics giant Huawei. In the current second quarter, sales are likely to be within the forecast range of 12.5 to 13.5 billion US dollars, the US company said on Wednesday. However, earnings will be below the middle of the range and therefore less than 13 billion dollars (12.1 billion euros). The reason for this is the withdrawal of export licenses for goods to a customer in China, of which the US Department of Commerce has informed the company. According to the information provided, Intel continues to expect growth in sales and earnings per share for the year as a whole compared to 2023. Intel shares fell by more than two percent ahead of the announcement.

After a dry spell: Apple sells more iPhones in China again

LONDON - Things are looking up again for Apple in the important Chinese smartphone market. According to official data released on Wednesday, iPhone sales in the country were twelve percent higher in March than a year earlier. According to government figures, sales of non-Chinese brands increased to 3.75 million units - following a significant decline in the first two months of the year. Apple is likely to have accounted for the majority of sales.

ROUNDUP: Jenoptik with jump in profits in the first quarter - share price rises

JENA - The technology group Jenoptik has benefited from higher demand from the semiconductor industry in the first quarter. "Jenoptik has made a good start to the 2024 fiscal year overall with significant revenue and earnings growth," said CEO Stefan Traeger in a statement on Wednesday. However, the general market environment has continued to deteriorate and demand in some business segments is currently below management's expectations. He expects demand to pick up in the second half of the year. The Jenoptik CEO confirmed the annual targets.

ROUNDUP: SMA Solar suffers from weak demand - share slumps

NIESTETAL - Sluggish demand as a result of full customer warehouses has slowed the growth of inverter manufacturer SMA Solar at the start of the year. At just under 362 million euros, sales in the first quarter were almost at the previous year's level, as SMA Solar announced on Thursday in Niestetal, Hesse. Although business with large-scale industrial projects increased significantly, it was unable to compensate for the weak demand for private and commercial solar systems. Investors were not reassured by the annual forecast confirmed by the Management Board: The share price slumped by double-digit percentages at times.

ROUNDUP: Commercial vehicle supplier SAF-Holland organically weaker - shares plummet

BESSENBACH - The commercial vehicle supplier SAF-Holland achieved significantly lower organic sales in the first quarter. In organic terms, revenue fell by around eight percent to EUR 441.3 million compared to the same period last year, as the SDax-listed company announced in Bessenbach on Wednesday. After years of strong growth, the commercial vehicle market in Europe, the Middle East, Africa and America has normalized. SAF-Holland confirmed its forecast, but the share price still fell.

Chinese car market with a slight dip in April

PEKING - According to initial data, the Chinese car market was slightly weaker in April. Deliveries of passenger cars fell by two percent year-on-year to 1.59 million units, according to preliminary figures released by the China Passenger Car Association (PCA) in Beijing on Wednesday. In March, deliveries had still increased by 6 percent. Compared to the previous month, the figures would also represent a decline. China is the largest car market in the world and as such is also the most important single market for the German manufacturers Volkswagen (including its subsidiaries Audi and Porsche), BMW and Mercedes-Benz.

ROUNDUP: BMW with profit decline at the start - CEO Zipse sees Group on course

MUNICH - Despite a good run with expensive models and an increase in sales, the car manufacturer BMW made less profit in the first quarter. Compared to the very strong quarter of the previous year, the DAX-listed company was noticeably less profitable in its most important division, passenger cars. Despite the increased share of not yet so lucrative electric cars and the negative impact of the model changeover for the important BMW 5 Series, CEO Oliver Zipse believes the company is on track for the year and confirmed the forecasts. However, the share price fell on Wednesday, as analysts and investors had hoped for a little more.

Fresenius starts the year strongly - forecast raised thanks to subsidiary Kabi

BAD HOMBURG - The medical group and hospital operator Fresenius has made a strong start to the 2024 financial year. Group sales grew organically by 6 percent to 5.7 billion euros in the first quarter, the DAX-listed company announced in Bad Homburg on Wednesday. Analysts had expected slightly less. The company's operating result adjusted for special effects (EBIT) rose by 15 percent to 633 million euros before the effects of currency translation. Fresenius had therefore already raised its outlook for the full year on Tuesday evening. The Group's organic sales growth for the current year is now expected to be between 4 and 7 percent. Operating performance (EBIT) is now expected to grow by 6 to 10 percent in constant currency.

Fresenius completes Group reorganization with Vamed separation

BAD HOMBURG - The medical group and hospital operator Fresenius has initiated the exit from its subsidiary Vamed. An Austrian consortium consisting of the construction companies Porr and Strabag will take over Vamed's activities in its Austrian home market, the DAX-listed group announced in Bad Homburg on Wednesday. However, Vamed's hospital services division will be transferred to the Fresenius Group. Porr and Strabag are to pay a total of 90 million euros for the remaining shares. "With the exit from Vamed, our strategic portfolio restructuring has been completed as planned," said Fresenius CEO Michael Sen.

ROUNDUP: Puma expects more buoyant business - share price jumps

HERZOGENAURACH - After a weaker first quarter, the sporting goods manufacturer Puma expects business to pick up momentum. The company has made a "good" start to the second quarter, said Group CEO Arne Freundt in a conference call on the figures on Wednesday. Puma now expects a gradual improvement over the course of the year and confirmed its forecast for the year.


Further news

-ROUNDUP: Plant manufacturer Gea slightly exceeds profit expectations at the start of the year

-ROUNDUP 3: Court declares EU approval of German Condor aid null and void

-ROUNDUP: Aurubis increases profit in the first half of the year - annual forecast confirmed

-ROUNDUP: Boeing lands on its fuselage in Istanbul

-Associations: Construction companies should voluntarily pay higher wages

-ROUNDUP: RTL sees slight recovery in the TV advertising market

-KfW: Less billions in receivables and more profit at the start of the year

-EU Commission presses ahead with proceedings against online platform X

-Toyota posts record profit - weak yen helps

-IT service provider GFT continues to grow in the first quarter

-First manned 'Starliner' test flight postponed to mid-May

-ROUNDUP: Beck's brewer AB Inbev with solid start to the year despite US weakness

-ROUNDUP: Lanxess somewhat more optimistic - Evonik makes progress with administrative restructuring

-United Internet subsidiary Ionos significantly increases operating profit

-ROUNDUP: Baywa in crisis - Green electricity business is going badly

-PNE confirms annual forecast after slight decline in earnings in the first quarter

-Deutsche Beteiligungs AG confirms forecast for the year

-Rewe can imagine moving into Galeria stores

-ROUNDUP: Bechtle feels customer restraint - share dives

-United Internet with a jump in operating profit - depreciation around the network is a drag

-ROUNDUP: More climate-friendly flying by 2050 - even that will probably be difficult

-Borussia Dortmund raises forecast again after reaching the Champions League final

-ROUNDUP/Compugroup earns less after one-off effect in the previous year - targets confirmed

-ROUNDUP: Metro continues to struggle with strong euro and loss - share price falls

-ROUNDUP: Infineon cuts hundreds of jobs in Regensburg

-Insulation and paint manufacturer Sto with a weak start to the year - weather has a negative impact

-SGL Carbon continues to feel the effects of the weak wind industry

-Supermarket group Ahold Delhaize exceeds profit expectations - share price rises

-ROUNDUP: Knorr-Bremse starts the year with growth - share price rises°

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.