ROUNDUP 2: Novartis separates from generics division Sandoz – IPO planned
BASEL – The Swiss pharmaceutical company Novartis is parting with its Sandoz generics division. The area, which has been weak for a long time, is to be listed on the Swiss stock exchange as an independent company, as Novartis announced in Basel on Thursday. The step is planned for the second half of 2023. Trading in Sandoz papers on the US market is also planned.
Salesforce lowers annual targets – investors disappointed
SAN FRANCISCO – The US software manufacturer Salesforce expects lower sales growth given the strong dollar and increased competition in the cloud business. In the current financial year, revenues should be a maximum of 31 billion dollars (31.1 billion euros), said the SAP (SAP SE) rival on Wednesday after the US stock market closed. Three months ago, Salesforce had promised up to $31.8 billion. Experts had expected a higher prognosis. The stock fell more than 5 percent in after-hours trading.
Gas crisis and Uniper problems bring Fortum big losses
HELSINKI – The gas crisis and the associated problems at the largest German gas importer Uniper have plunged the Finnish parent company Fortum deep into the red. In the second quarter, the company recorded a net loss of almost 7.4 billion euros. “In the second quarter of 2022, Russia escalated its brutal war against Ukraine and launched an outright energy war against the EU,” said Fortum boss Markus Rauramo, according to a statement on Thursday. “Because of Russia’s gas restrictions, concerns about security of supply and affordability of energy on the continent have increased significantly.”
ROUNDUP 2: Aroundtown earns more thanks to residential real estate subsidiary
LUXEMBOURG – Commercial real estate specialist Aroundtown (Aroundtown SA) received a boost in the first half of the year from its residential real estate subsidiary Grand City Properties. Rental income and results increased compared to the previous year. Aroundtown confirmed its annual targets for the current year on Thursday. After significant price gains in early trading, the stock temporarily turned negative. Most recently, the paper increased again slightly.
Delivery Hero made a loss of almost 1.5 billion euros in the first half of the year
FRANKFURT – The food delivery service Delivery Hero closed the first six months of the current year with an even higher loss of billions. The bottom line is that the shareholders accounted for a deficit of 1.47 billion euros after around one billion euros in the same period last year, as the MDAX-listed company announced on Thursday in Berlin. In addition to higher costs for advertising, IT and administration, impairments on several goodwill items had a significant impact on the balance sheet. These increased from EUR 82.3 million in the same period to EUR 270.6 million.
High gas prices: Fertilizer company Yara continues to reduce ammonia production
OSLO – Due to the continued rise in gas prices, which are already very high, the Norwegian Yara group (Yara International ASA) is cutting back even further on the energy-intensive production of the fertilizer raw material ammonia. Ammonia capacity utilization in Europe fell to around 35 percent, as the company announced on Thursday. In terms of production volume, the annualized cuts in Europe amounted to 3.1 million tonnes of ammonia and 4.0 million tonnes of finished products such as nitrogen fertilizers.
Building materials group CRH increases profit sharply – concrete annual outlook
DUBLIN – The Irish building materials group CRH wants to earn more operating income for the year as a whole, despite the economic headwind. Operating profit (Ebitda) is expected to rise to around 5.5 billion US dollars (5.53 billion euros) in 2022, as Heidelbergcement’s competitor (HeidelbergCement) announced in Dublin on Thursday. That would be ten percent more than in the previous year. The board around CEO Albert Manifold is assuming robust demand from North America. The European business with building materials such as cement, concrete elements and asphalt will remain challenging due to rising costs, macroeconomic uncertainties and geopolitical tensions.
ROUNDUP: Nvidia continues to expect subdued business
SANTA CLARA – The chip group NVIDIA does not expect a speedy recovery after failed sales expectations. For the current quarter, Nvidia forecast sales of around 5.9 billion dollars (around 5.9 billion euros) on Wednesday. That would be over a billion dollars less than in the same quarter last year – and also significantly less than analysts expected.
Competition authorities approve joint venture for new TV advertising format
BRUSSELS – The joint project planned by RTL Germany and a subsidiary of competitor ProSiebenSat.1 (ProSiebenSat1 Media SE) for a new form of TV advertising can start from the point of view of the EU Commission. The Brussels authority responsible for the competition law examination announced on Thursday that the project did not raise any concerns.
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Additional Reports
-ROUNDUP: Netzagentur presents cornerstones for reduction rights in mobile communications
-Apple Announces Novelty Event for September 7th
-Let the games begin: Gamescom opens for all visitors
-Totalenergies denies supplies to Russian Air Force
-Uber integrates public transport connections into its app
-Survey: Many people save on shopping and energy consumption
Study: TikTok is rapidly catching up with US services among young people
-Sales increase for the cosmetics industry – Confidence also for the second half of the year
-Dekabank with strong jump in profits in the first half of the year
-RBB crisis: Broadcasting Council meets – no interim boss in sight
–Nordzucker expects slightly below-average beet harvest
-BVB wants to show a reaction in the duel with Hertha – Continue without painting
-Mannheim fire brigade expects long-term deployment after chemical accident
-ROUNDUP: Warning strike at the University Hospital in Frankfurt – employees are demanding relief
-clinic group Asklepios calls for help because of the high inflation
-BVB still without an offer for Meunier – Kehl: ‘Nothing on the table’
-Electronics trade fair IFA wants to take off after the pandemic break
-Energy crisis: federal government wants to remove barriers to biogas use
– Wind farm in Jüchen will be demolished due to construction defects
-Fitness company Peloton with billions loss
-Grippostad manufacturer Stada is growing strongly – strong ruble helps
-Mannheim fire brigade expects long-term deployment after chemical accident
-Uzin Utz increases sales in the first half of the year – decline in profit°
Customer Note:
ROUNDUP: You read a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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