Adidas focuses on further growth + Blackrock acquires two ports on the Panama Canal + freenet with record EBITDA, free cash flow and higher dividend than in the previous year
Blackrock $BLK (+1,19 %)takes over two ports on the Panama Canal
- Following pressure from the USA, the US financial firm Blackrock is to take control of two important ports on the Panama Canal.
- Hong Kong-based CK Hutchison is to sell a majority stake in its port division to a consortium led by Blackrock, according to a statement.
- As part of the deal, the company Panama Ports, which operates the ports of Balboa and Cristobal at the entrances to the Panama Canal, is also changing hands.
- US President Donald Trump claims that the US has too much influence over the Panama Canal and speaks of the need for the US to regain control of the waterway.
- China and Panama reject the accusations.
- The Panama Canal was built by the USA at the beginning of the 20th century, but sovereignty over the canal zone was completely returned to Panama at the end of 1999.
- The sale of the port still requires the approval of the authorities, among other things.
- CK Hutchison is set to receive around 19 billion dollars once the deal is completed.
Adidas $ADS (+0,52 %)focuses on further growth
- Despite a difficult economic environment, sporting goods manufacturer Adidas expects further growth in the current year.
- However, this is likely to weaken somewhat compared to 2024.
- The company announced in Herzogenaurach on Wednesday that sales in 2025 are expected to increase by a high single-digit percentage on a currency-adjusted basis.
- The Adidas brand is expected to grow by at least ten percent.
- This no longer includes sales of Yeezy products, after the remaining stock from the terminated collaboration with the controversial rapper Kanye West was sold off last year.
- In 2024, Adidas had once again generated around 650 million euros with the products, with overall currency-adjusted sales increasing by 12 percent to 23.7 percent.
- Profitability is set to improve further. Adidas anticipates an increase in operating profit to between 1.7 and 1.8 billion euros, compared to 1.3 billion euros in the previous year.
- Investments in marketing and sales are to be increased.
- "I think we are very well positioned for 2025," commented Group CEO Björn Gulden.
- The company will also make "further progress" towards an operating margin of ten percent.
- In 2024, Adidas improved its margin by 4.4 percentage points to 5.6 percent.
- The Herzogenaurach-based company had already presented preliminary figures for the past year at the end of January.
freenet $FNTN (+0,14 %)posts record EBITDA and free cash flow for the 2024 financial year - Proposed dividend significantly higher than previous year
- All financial performance indicators (revenue, EBITDA, free cash flow) were within the forecast ranges raised by the Management Board during the year
- Revenue: Increase of 3.9% to EUR 2,478 million (previous year: EUR 2,385 million), mainly due to the significant growth in waipu.tv subscribers (+571 thousand).
- EBITDA: Increase of 3.5% to EUR 521.5 million (previous year: EUR 503.9 million), with a one-off effect from the sale of IP addresses (EUR 18.4 million) having a positive impact.
- Free cash flow: increase of 5.7% to EUR 292.3 million (previous year: EUR 276.6 million)
- Based on the figures, the Executive Board proposes a record dividend of EUR 1.97 per share (previous year: EUR 1.77 per share) and sees the potential for share buy-backs of up to EUR 100 million.
Wednesday: Stock market dates, economic data, quarterly figures
- Quarterly figures / company dates USA / Asia
- No time specified: Foot Locker quarterly figures
- Quarterly figures / company dates Europe
- 07:00 Evonik Industries | Schaeffler Annual results
- 07:30 Adidas | Bayer | Telecom Italia Annual results
- 08:30 Evonik BI-PK
- 10:00 Bayer BI-PK | Freenet Conference call on preliminary annual results
- 11:30 Evonik Analyst Conference
- 12:00 Schaeffler Analyst Conference
- 14:00 Bayer Analyst Conference
- 21:00 Logitech Capital Markets Day
- No time specified: Dassault Aviation | Atos annual figures
- Economic data
08:30 CH: Consumer prices February FORECAST: +0.6% yoy/+0.2% yoy previously: -0.1% yoy/+0.4% yoy
08:45 FR: Industrial production January FORECAST: +0.4% yoy previous: -0.4% yoy
09:45 IT: Purchasing Managers' Index/PMI non-manufacturing February FORECAST: 50.5 previous: 50.4
09:50 FR: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February PROGNOSE: 44.5 1st release: 44.5 PREV: 48.2 Total Purchasing Managers' Index (2nd release) PROGNOSE: 44.5 1st release: 44.5 PREV: 47.6
09:55 DE: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February FORECAST: 52.2 1st release: 52.2 PREV: 52.5 Total Purchasing Managers' Index (2nd release) FORECAST: 51.0 1st release: 51.0 PREV: 50.5
10:00 EU: Purchasing Managers' Index/PMI non-manufacturing euro area (2nd release) February FORECAST: 50.7 1st release: 50.7 PREV: 51.3 Total Purchasing Managers' Index (2nd release) FORECAST: 50.2 1st release: 50.2 PREV: 50.2
10:00 IT: GDP (2nd release) 4Q
10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (2nd release) February 1. Release: 51.1 previous: 50.8
11:00 EU: Producer Prices January Eurozone FORECAST: +0.4% yoy/+1.4% yoy previously: +0.4% yoy/0.0% yoy
14:15 US: ADP labor market report February private sector employment PROGNOSE: +148,000 jobs previous: +183,000 jobs
15:45 US: Purchasing Managers' Index/PMI Services (2nd release) February FORECAST: 49.8 1st release: 49.7 previous: 52.9
16:00 US: Industrial New Orders January FORECAST: +1.6% yoy previous: -0.9% yoy
16:00 US: ISM non-manufacturing index February FORECAST: 52.9 points previous: 52.8 points
20:00 US: Fed, Beige Book
