ROUNDUP 2: High energy prices weigh on Eon – Profits in non-core business

    ESSEN – The energy group Eon (EON SE) continues to be strongly influenced by the high electricity prices. These ensure more positive expectations in non-core business and high sales at group level, but also put pressure on the operating result. Unlike in the first quarter, Eon has now been able to pass on some of the increased costs to customers. As a result, however, this will only become fully visible in the second half of the year, the Dax (DAX 40) group announced on Wednesday in Essen. CEO Leonhard Birnbaum called it “a solid half-year result”. The stock went up and down on Wednesday.

    ROUNDUP: Heidelberger Druck with jump in sales and earnings – share rises sharply

    HEIDELBERG – The mechanical engineering company Heidelberger Druck (Heidelberger Druckmaschinen) started the financial year with a jump in sales and profits thanks to high demand. Deliveries of new machines to North America and Europe more than compensated for the weakening business in China. The management confirmed the forecast for the financial year running until the end of March. Heidelberger Druck stock posted strong gains in the morning.

    ROUNDUP: Continued high demand for rental cars is played by Sixt

    PULLACH – The car rental company Sixt (Sixt SE St) benefited in the second quarter from continued strong demand for its rental cars in Europe and the USA. Sixt was able to charge higher rental prices because people are traveling significantly more again after two years of the corona pandemic and are therefore booking rental cars more often. In addition, there is still a shortage of vehicles on the market because car manufacturers are struggling with production cutbacks. Overall, the quarter developed significantly better than analysts had on average on the slip. Sixt’s ordinary shares, which have been listed on the MDAX since March, fell by up to eight percent in early trading.

    ROUNDUP 2: Brenntag jumps in profits – Aims for the upper part of the forecast

    ESSEN – The chemicals dealer Brenntag (Brenntag SE) increased sales and earnings significantly in the second quarter thanks to higher sales prices and good demand. “Brenntag remains on course for growth,” said company boss Christian Kohlpaintner in a conference call on Wednesday. The company proved that again in the second quarter. Both business areas contributed to this result. The positive trend continued in the second half of the year. The stock gained around 0.8 percent in the afternoon.

    ROUNDUP: Jenoptik Executive Board raises expectations – concerns about glass

    JENA – The Thringer technology group JENOPTIK is benefiting from many orders from the semiconductor industry and is raising its business forecast for 2022. After an “excellent first half of the year”, sales of 930 to 960 million euros are now expected with further improved profitability, said Jenoptik boss Stefan Traeger on Wednesday in Jena. Originally, at least 900 million euros had been targeted. In 2021, group sales were still 751 million.

    ROUNDUP: Musk sells numerous Tesla shares in dispute over Twitter deal

    AUSTIN – Tesla boss Elon Musk Contrary to earlier promises, has again sold shares in the US electric car manufacturer on a large scale – and refers to the dispute over the Twitter takeover (Twitter). Musk sold $6.9 billion worth of securities, according to reports to the US Securities and Exchange Commission on Tuesday. “In the (hopefully unlikely) event that Twitter forces the deal to close and some equity partners exit, it’s important to avoid a fire sale of Tesla shares,” Musk said in a tweet. At the end of April he had written that no further share sales were planned.

    ROUNDUP: Evonik is becoming a little more confident – numbers are not really convincing

    ESSEN – The specialty chemicals group Evonik is becoming somewhat more confident about the current year, despite the deteriorating economic prospects. CEO Christian Kullmann wants to achieve the upper end of the targeted range of 2.5 to 2.6 billion euros in operating profit. In the second quarter, however, the group also benefited in one business area from a boom caused by the high oil prices. With a view to a gas shortage due to the Ukraine war, the MDAX group announced at the start of the week that it would partially replace natural gas at its German locations. Shares fell 0.9 percent on Wednesday morning.

    ROUNDUP: Automotive supplier Vitesco burdened with high costs

    REGENSBURG – As expected, the automotive supplier Vitesco (Vitesco Technologies) has had a difficult second quarter and has felt the effects of sharply increased costs. The operating result came under significant pressure and growth would not have happened if the weak euro had not helped, as the drive specialist said on Wednesday. But because the exchange rates are giving tailwind, the supply of the scarce electronic chips should improve in the second half of the year and, last but not least, the customers are accepting higher prices, the management around boss Andreas Wolf does not see the annual targets in danger.

    ROUNDUP: Tui sees itself on course for profit despite bottlenecks – the share turns positive

    HANNOVER – Despite the chaos at many airports, the world’s largest travel group TUI expects almost as many holidaymakers as before the pandemic. As planned, the outgoing CEO Fritz Joussen and his designated successor Sebastian Ebel confirmed on Wednesday in Hanover that the group should return “significantly” to the profit zone in day-to-day business in the fiscal year running until the end of September. However, this did not work in the past quarter – mainly because Tui had to cancel many flights in Great Britain.

    ROUNDUP: LEG Immobilien increases operating profit again – forecast confirmed

    DSSELDORF – The most recent purchases of apartments and rising rents gave the real estate group LEG (LEG Immobilien) a further boost in the second quarter of 2022. “The key drivers of our business remain intact,” said company boss Lars von Lackum when the quarterly figures were presented on Wednesday. The influx of people to Germany and the difficult environment for “Huslebauer” increased the already high demand for rental apartments. LEG has almost no vacancies and is fully financed until 2024. In view of the current development in interest rates and inflation, the company wants to act cautiously with new construction, acquisitions and running costs.

    ^

    Additional Reports

    -ROUNDUP: Plant manufacturer Gea sees itself on course for the annual targets

    -ROUNDUP: Talanx sticks to annual target after profit increase – share plummets

    -HHLA continues to earn well due to containers in storage – Earnings forecast confirmed

    -Aareal Bank increases operating profit more strongly than expected – forecast confirmed

    -Insurer Prudential does not earn as much as expected from operations

    -IPO: Ahold Delhaize raises earnings guidance – Bol.com IPO on hold

    -Crypto crash causes Coinbase to lose billions

    -Ex-Opel boss Lohscheller to lead US truck manufacturer Nikola

    -BGH: Ticket portal CTS is not liable for concert cancellations due to Corona

    -Germany tourism almost at pre-crisis level

    -USA invests billions in domestic semiconductor production

    -Chip shortage: Globalfoundries wants to expand production

    -Study: Entertainment and media industry stronger than before Corona

    -EDF wants state compensation for step against rising electricity prices

    -Company bankruptcies further reduced in July

    -SAP and former head of the works council come to an out-of-court agreement

    -Consumer center warns of watering down of EU air passenger rights

    -Musk: First Tesla semis by the end of the year

    -Online bicycle retailer Bike24 sees business slowed down by war

    -Project developer PNE: Number of wind and solar park projects is growing

    -Vestas falls short of expectations in second quarter – forecast confirmed

    -Frankfurt internet node reports another record in data traffic

    -KfW catches up after falling profits at the beginning of the year

    -Warning strike cancels 36 flights in Munich

    – Troubled auto supplier Leoni reports loss

    -Verdi and port companies start ninth collective bargaining round

    -ROUNDUP: Secunet earns significantly less in the first half – share collapses

    -ROUNDUP: More transfer times should make rail connections more reliable

    -Terzic: With Modeste in Freiburg – understanding of FC frustration

    Customer note:

    ROUNDUP: You are reading a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.

    /jha

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