Hugo Boss

As every Sunday, the most important news from the past week, as well as the dates for the coming week.

Also as a video:

https://youtube.com/shorts/I6Spb2-8GPY?si=EkrAKROkkdawQVwE

Monday:

The mood on the employment market has not been this bad for four years. Companies are hardly hiring any new employees. "The autumn revival on the labor market has largely failed to materialize this year," said Andrea Nahles, head of the Federal Employment Agency.

https://www.handelsblatt.com/politik/deutschland/arbeitsmarkt-ifo-beschaeftigungsbarometer-auf-tiefstem-stand-seit-2020/100085716.html

Tuesday:

$BOSS (-2,36%) HUGO BOSS can make gains in the pre-market, the Q3 figures are convincing. The company was able to increase sales against the market and thus gain further market share. Sales rose by one percent to 1.029 billion euros. Profits, on the other hand, fell slightly to 55 million euros. As a result, the company was able to beat both the sales forecast and the operating profit forecast. The profit was lower than expected.

https://www.finanzen.net/amp/ziele-bestaetigt-hugo-boss-verzeichnet-gewinnrueckgang-trotz-leichtem-umsatzplus-13983161

A purchase offer for $SZG (-1,9%) Salzgitter caused the share price to explode on Tuesday. The family entrepreneur Günter Papenburg probably wants to take over the steel manufacturer.

https://www.handelsblatt.com/unternehmen/industrie/guenter-papenburg-dieser-hartnaeckige-bauunternehmer-will-salzgitter-kaufen/100086053.html

Wednesday:

Black day for $BMW (-1,54%) BMW, on the one hand Donald Trump became US President, on the other hand bad quarterly figures. In Q3, BMW earned half a billion euros, 84% less than in the same period last year. Sales slumped by 16%. BMW had to recall 1.5 million cars worldwide due to problems with the brake systems.

https://m.bild.de/regional/muenchen/bmw-gewinn-bricht-um-84-prozent-ein-das-sind-die-gruende-672b1efbc2d148466c895807

Bad share price reaction also at $TMV (-1,8%) TeamViewer, although the Group was able to significantly increase its profit. This rose by 49 % on an adjusted basis. Revenue also increased by 7 %. The company is targeting the lower end of the forecast range for revenue for the year as a whole. The EBITDA forecast was even raised. RBC leaves the target price at 18 euros after the figures. Why the share fell by more than 10% remains a mystery to us.

https://www.4investors.de/nachrichten/dgap-meldung.php?sektion=dgap&ID=145568

That was it for the traffic lights. It had become apparent. The decisive factor was Lindner's paper calling for a change in economic policy

https://m.bild.de/politik/ausland-und-internationales/medienbericht-scholz-entlaesst-lindner-672bc4edd7f5755b6b3c1920

Thursday:

The FED cut the key interest rate again by 25 basis points. This had been expected. The US economy would grow solidly and the inflation rate would fall towards 2%.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-us-notenbank-fed-senkt-leitzins-um-025-prozentpunkte/100086047.html

The Bank of England also cut interest rates by 25 basis points on Thursday. The prime rate there is still at 4.75%.

https://www.bbc.com/news/live/c3rxp879j3xt

Most important dates in the coming week:

Monday: 11:00 ZEW Economic Sentiment (DE)

Tuesday: 14:30 Inflation data (USA)

Thursday: 14:30 Producer prices (USA)

What other important dates can you think of?

#trump
#konjunktur
#inflation
#usa

Earnings summary this morning (05.11.) 👇🏼

Krones | $KRN (+1,76%) increases both sales and operating profit in the third quarter, with EBITDA growing by almost 22% to almost 135 million euros. The company confirms its forecast and benefits from improved material availability.

Uniper | $UN01 generates a profit of just under EUR 1.3 billion in the first nine months of 2024, but significantly less than in the previous year. The energy group confirms its outlook for the year with an expected net profit of EUR 1.1 to 1.5 billion.

Hugo Boss | $BOSS (-2,36%) recorded a slight increase in sales of 1% to 1.03 billion euros in the third quarter despite a slump in consumption in China, but EBIT fell by 7% to 95 million euros. The Group confirms its annual targets despite higher sales and marketing costs.

Fraport | $FRA (-1,27%) is lowering its expectations for passenger numbers in 2024 to the lower end of the range of 61 million passengers and is targeting EBITDA in the middle of the previous forecast of 1.26 to 1.36 billion euros. In the summer quarter, revenue rose by 11%, while operating profit only increased by 1%.

Fresenius Medical Care | $FRE (+2,55%) increases operating profit in the third quarter by 43 % to 463 million euros, which is attributable to successful cost savings. The company raises its forecast for adjusted operating profit, but expects a slight decline in sales.

Redcare Pharmacy | $RDC (-3,11%) reports a decline in adjusted EBITDA to 11.4 million euros in the third quarter and increases the loss for the first nine months to 20.1 million euros. The company confirms adjusted annual targets and expects a lower operating profit due to higher advertising expenditure for the e-prescription.

DHL | $DHL (-0,87%) reports a decline in profit of almost 7% to 751 million euros for the third quarter and lowers its forecast for operating profit in 2024 and 2026. Revenue increases by 6% to 20.6 billion euros, while EBIT remains stable at 1.4 billion euros.

Norma Group | $NOEJ (-0,17%) is revising its annual targets downwards and now expects sales of around EUR 1.2 billion and an adjusted EBIT margin of around 8.0 percent due to a challenging market environment. In the third quarter, the company recorded a decline in sales of 7.9% to 273.6 million euros and a drop in profit to 6.1 million euros.

Nintendo | $7974 (+1,38%)
Q2 24 Earnings:

- Net Income 27.70B Yen (est 49.4B Yen)

- Sees FY Oper Income 360.00B Yen, Saw 400.00B Yen

- Sees FY Total Switch Sales 12.50M Units, Saw 13.50M

Adecco | $ADEN (-1,51%) 24 Earnings:

- Net Income EU99.0M (est EU86.8M)

- Rev EU5.70B (est EU5.84B)

- Adj EBITA EU186.0M (est EU195M)

- Plans To Repay EU430M Debt Maturing In Dec 24

As every Sunday, the most important news from the past week, as well as the dates for the coming week.

Also as a video:

https://youtube.com/shorts/VguA1e0JIig?si=OBfgag88jXTJk-XL

Monday:

45 projects in China 🇨🇳 that sold CO2 certificates are suspected of fraud. All projects are to be reversed.

https://www.handelsblatt.com/politik/international/klimawandel-umweltbundesamt-will-45-projekte-in-china-stoppen/100069857.h

$INTC (+2,41%) Intel stops the construction of the factory in Magdeburg for the time being. This not only shows how wrong a subsidy policy is in which the state simply gives away tax money to individual companies. It also shows that the framework conditions for investments are generally poor. Intel is not even building a plant, even though they would receive 10 billion euros for it.

https://www.spiegel.de/wirtschaft/intel-verschiebt-bau-von-chipfabrik-in-magdeburg-a-5cf8a645-6b57-47a7-a8fe-c315a175d521

Tuesday:

The ZEW economic expectations have deteriorated more than expected. "The ZEW survey speaks for a crash, crisis and powerlessness. Above all, the miserable assessment of the situation points to another lost quarter on the growth side," said Alexander Krüger, Chief Economist at Hauck Aufhäuser Lampe Privatbank

https://www.n-tv.de/wirtschaft/der_boersen_tag/ZEW-Befragung-spricht-fuer-Absturz-Krise-und-Ohnmacht-article25232850.html

Wednesday:

We read a lot about China 🇨🇳 and how widespread electric cars are there. North America 🇺🇸🇨🇦 is less in the spotlight. There is hardly any demand for electric cars there and, above all, demand is already stagnating. The plans of $F (+1,39%) Ford and $GM (+2,23%) äGM to go all-electric have long since been canceled. Even in China, consumers are not always free to make the decision to switch to an electric car. In certain cities, for example, it is simply not possible to register a new combustion engine. Manufacturers such as Mercedes have also long since realized that although electric cars are desired by the state, consumer demand is not so great. Once again, the planned economy is not working. This makes other instruments such as a global CO2 price all the more important.

https://www.handelsblatt.com/unternehmen/industrie/elektroautos-absatz-zahlen-enttaeuschen-us-hersteller-sagen-neue-modelle-ab/100062173.html

Germans distrust the financial sector. Out of 28 industries surveyed, the sector came in 24th place, which is no great surprise to us. There are few sectors where conflicts of interest can have such a blatantly negative impact on future life. Many Germans have had bad experiences with financial service providers. That is why it is so important to strengthen consumer education and, above all, financial knowledge. That way, if in doubt, you can do it yourself and distinguish between bad and good advice.

https://www.handelsblatt.com/finanzen/banken-versicherungen/vertrauensranking-platz-24-von-28-die-deutschen-misstrauen-der-finanzbranche/100067929.html

The Fed cuts the key interest rate by 50 basis points!

This means that the key interest rate in the USA 🇺🇸 is now in the range between 4.75 % and 5.0 %.

https://www.handelsblatt.com/finanzen/geldpolitik/federal-reserve-us-notenbank-senkt-zinsen-ueberraschend-stark-um-einen-halben-prozentpunkt/100070709.html

Thursday:

In August, 18.3% fewer cars were registered in Europe than in the previous year. The main reason for this is a slump in sales of electric cars. Demand for electric cars fell by 44%. This slump was particularly severe in Germany, where sales fell by 70%.

https://www.handelsblatt.com/unternehmen/industrie/mobilitaet-autoabsatz-in-europa-bricht-um-fast-ein-fuenftel-ein/100070917.html

The BoE is taking a break from cutting interest rates for the time being and is leaving the prime rate at 5.0%. Inflation has not yet fallen sustainably enough.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-bank-of-england-belaesst-leitzinsen-bei-fuenf-prozent/100069355.html

After $BMW (-1,54%) BMW, Mercedes also cuts $MERC (+2,1%) Mercedes is also cutting its profit targets. Instead of 11 %, the return is to be 7.5 - 8.5 %. This means that Mercedes is also clearly missing its own strategy. A luxury provider with a single-digit margin is rather rare. The main reason for this is probably the development in China 🇨🇳, as well as lower sales of the S-Class.

https://www.handelsblatt.com/unternehmen/industrie/autobauer-mercedes-kappt-gewinnziele-china-und-nebuloese-bewertungseffekte-belasten/100071118.html

Friday:

Big insider buy by Daniel Grieder at $BOSS (-2,36%) HUGO BOSS. The CEO buys shares for just under 400,000 euros. The company recently attracted attention with its cooperation with VFB Stuttgart.

https://www.wallstreet-online.de/nachricht/18513651-eqs-dd-hugo-boss-ag-daniel-heinrich-grieder-kauf/2

While the other central banks are cutting interest rates, the Bank of Japan 🇯🇵 is raising its key interest rates. Today, however, it is pausing the increases for the time being, but is holding out the prospect of further interest rate hikes.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-gegen-den-trend-bank-von-japan-setzt-weiter-auf-zinserhoehungen/100070196.html

$QCOM (+1,7%) Qualcomm probably wants to $INTC (+2,41%) take over Intel. If the takeover goes ahead, it would be the largest ever in the technology sector. Intel is still valued at 90 billion euros.

https://www.handelsblatt.com/technik/it-internet/chiphersteller-qualcomm-spricht-offenbar-mit-intel-ueber-uebernahme/100071470.html

Most important dates in the coming week:

Tuesday: 10:00 ifo Business Climate Index (DE)

Thursday: 15:20 Fed-Powell speech (USA)

Friday: 11:00 EU economic data (EU)

What other important dates can you think of?

As every Sunday, the most important news from the past week, as well as the dates for the coming weeks.

Also as a video:

https://youtube.com/shorts/f0axgV1KRVs?si=6MLwRC5IQHK7FPqt

Monday:

$FRAS (-0,86%) Frasers seizes the opportunity and increases its stake in $BOSS (-2,36%) HUGO BOSS. The share had recently fallen by more than 50% compared to its highs in 2023. Frasers Group now directly holds more than 15% of the voting rights.

https://fashionunited.de/nachrichten/business/frasers-group-erhoht-beteiligung-an-hugo-boss/2024081257677

Tuesday:

$HFG (-5,04%) Hellofresh can grow the bottom line and the ready-to-eat segment grows by almost 45%, sales in the cooking box business shrink by 10%. Overall, sales increased by 0.9%. This means that Hellofresh is already able to compensate for the falling sales in the cooking box business and return to growth. In addition

Hellofresh was able to refinance itself favorably. Hellofresh therefore continues to have a solid capital structure.

https://www.wallstreet-online.de/nachricht/18373330-hellofresh-hits-7-5-aebitda-q2-2024-strong-performance

Producer prices in the USA 🇺🇸 are better than expected. Instead of +0.2 % compared to the previous month, it was +0.1 %. This increasingly points to a first interest rate cut at the beginning of September.

https://finanzmarktwelt.de/inflation-usa-erzeugerpreise-niedriger-was-nun-318977/?amp

Wednesday:

With the exception of Japan, there is growing evidence of a global turnaround in interest rates. Even the economically relatively insignificant (GDP: around USD 250 billion) island state of New Zealand 🇳🇿 has now lowered interest rates. The key interest rate has been lowered from 5.5% to 5.25%.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-neuseelands-zentralbank-senkt-nach-langer-pause-den-leitzins/100059828.html

At +2.9%, the inflation data from the USA 🇺🇸 was below expectations of +3.0%. The markets continue to rise accordingly, and an interest rate cut by the Fed is becoming more likely.

https://www.handelsblatt.com/finanzen/geldpolitik/usa-inflation-faellt-im-juli-auf-tiefsten-stand-seit-maerz-2021/100057609.html

Big deal in the food industry. The non-listed food giant Mars takes over the Pringles manufacturer $K (+0,74%) Kellanova. It is likely to be one of the biggest takeovers in the food industry ever. The confectionery giant Mars already has a turnover of USD 50 billion. With Kellanova, turnover will increase by a further USD 13 billion. The takeover is likely to cost USD 36 billion.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/pringles-hersteller-mars-will-kellanova-wohl-fuer-30-milliarden-dollar-kaufen/100059764.html

Thursday:

The trade union-affiliated IMK puts the probability of a recession in Germany at 49.2%. The main problems are domestic consumer demand and general demand from abroad.

https://www.handelsblatt.com/politik/konjunktur/imk-institut-rezessionsrisiko-in-deutschland-steigt-studie-zufolge-auf-fast-50-prozent/100060064.html

$CSCO (+0,82%) Cisco has exceeded expectations with its sales forecast for the current quarter. In the previous quarter, sales fell by 10% and profits plummeted by 45%.

https://www.finanzen.net/amp/optimismus-cisco-aktie-steigt-prognose-uebertrifft-erwartungen-13767655

Domestic consumption is driving the economy in Japan 🇯🇵. In the 2nd quarter, GDP grew by an annualized 3.1%. Experts had only expected growth of 2.1%.

https://www.handelsblatt.com/politik/international/konjunktur-privater-konsum-treibt-japans-wirtschaftswachstum-an/100060045.html

$BAYN (-0,14%) Bayer can dismiss a lawsuit in an appeals court. As there are contradictory rulings from appeal courts, Bayer continues to demand that the glyphosate case be brought before the Supreme Court.

https://www.handelsblatt.com/unternehmen/industrie/pharmakonzern-bayer-verbucht-juristischen-sieg-im-us-streit-ueber-glyphosat/100060322.html

Key dates in the coming week:

Tuesday: 14:30 Inflation data (Canada)

Wednesday: 20:00 FOMC Minutes (USA)

Thursday: 10:00 Purchasing Managers' Index (EU)

As every Sunday, the most important news from the past week, as well as the dates for the coming week.

Also as a video:

https://youtube.com/shorts/a4VONpgpDy8?si=DlcRJH90N19mxo9L

Monday:

The $VOW (-1,62%) Lamborghini, a car manufacturer belonging to the VW Group, made a significantly higher profit. Turnover increased by 14.1% to 1.6 billion euros in the first half of the year. The profit rose to 458 million euros. The USA remains the most important market, ahead of Germany and the UK.

https://www.handelsblatt.com/unternehmen/industrie/lamborghini-sportwagenhersteller-erzielt-rekordgewinn/100056120.html

The prices for freight rates are rising sharply again, one consequence of which is that the trader Depot had to file for insolvency. Shipowners cite the Houthi attacks in the Red Sea as the cause. Traders speak of an artificial shortage.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/logistik-starker-anstieg-der-frachtkosten-bringt-haendler-in-existenznoete/100053221.html

Explosion on the factory premises of $BAS (-1,23%) BASF site in Ludwigshafen. The causes are still unclear, 14 people were slightly injured.

https://www.handelsblatt.com/unternehmen/industrie/chemieunternehmen-brand-nach-explosion-auf-basf-werksgelaende/100056151.html

Tuesday:

Some company figures at a glance:

$BP. (+1,87%) BP (oil company) beats expectations on profit and raises dividend.

The Austrian $RBI (-0,17%) Raiffeisen Bank also increases its profit (Q2) to 661 million euros. Around half of this comes from the controversial Russian business.

The lubricant manufacturer $FPE Fuchs also increased its EBIT by 9%. Turnover fell by 3%.

The Swiss chemical manufacturer $CLN (-0,38%) Clariant raises its profit forecast. Although sales fell in the first half of the year, the EBITDA margin increased.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-einsparungen-bei-fmc-zeigen-wirkung-knorr-bremse-erwartet-mehr-gewinn-/24098412.html

The German economy is still not making any headway. GDP fell by 0.1% in the second quarter. In the first quarter, growth was 0.2%. It is therefore questionable whether GDP will grow over the year as a whole.

https://www.handelsblatt.com/politik/konjunktur/bip-deutsche-wirtschaft-schrumpft-um-01-prozent/100056168.html

Inflation in Germany 🇩🇪 remains a tough issue. At 2.3%, inflation in June was again slightly above the ECB's 2.0% target. Expectations were also slightly lower at 2.2%. However, the decisive factor is the inflation rate in the eurozone as a whole 🇪🇺. For example, Spain 🇪🇸 reported significantly lower inflation than expected.

https://www.handelsblatt.com/finanzen/geldpolitik/verbraucherpreise-inflation-bleibt-zaehe-angelegenheit-leichter-anstieg-im-juli/100054889.html

Wednesday:

$TMV (-1,8%) Teamviewer continues to grow profitably and also exceeds expectations with an EBITDA margin of 41%. Above all, cash flow increased significantly by 29% to EUR 60.8 million in Q2. The P/E ratio is now also in the 10 range. This is very low by comparison for a software group.

https://stock3.com/news/teamviewer-ist-profitabler-als-gedacht-15091142

The BoJ raises interest rates for short-term deposits to 0.25% from 0.1% previously. Bond purchases are also to be reduced further. The BoJ is thus gradually ending its policy of negative interest rates, which has led to a massive depreciation of the Japanese yen.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-bank-of-japan-hebt-zinsen-an-anleihekaeufe-sollen-sinken/100056181.html

Inflation in the eurozone surprisingly rises to 2.6%. This makes a faster interest rate cut by the ECB less likely. Experts had only expected inflation of 2.5%. The ECB itself has set itself a target of 2.0%. Blanchard recently criticized the target and said a target of 3.0% inflation would be better. Prices for services in particular have continued to rise sharply, increasing by 4.0%. In June, however, the increase here was still 4.1 %.

https://www.handelsblatt.com/finanzen/geldpolitik/ezb-inflation-im-euro-raum-steigt-ueberraschend-auf-26-prozent/100054891.html

Following Jerome Powell's press conference, expectations of an interest rate cut in September in the USA 🇺🇸 have risen to 84%. The figures are currently moving in the right direction.

https://www.handelsblatt.com/finanzen/geldpolitik/us-notenbank-fed-stellt-maerkte-auf-baldige-zinswende-ein/100054877.html

Thursday:

$VOW3 (-1,43%) Volkswagen exceeds expectations. Both sales (83.3 billion euros instead of 83) and operating profit (5.5 billion euros instead of 5.3) were higher than expected in the second quarter. In order to achieve the planned return of at least 6.5%, VW still has to stretch itself a little.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-toyota-wird-noch-profitabler-weniger-gewinn-fuer-bmw-und-vw/24098412.ht$BOSS (-2,36%)

$BOSS (-2,36%) HUGO BOSS announced a significantly better cash flow in the second quarter. Although the forecast was recently lowered, HB remains on course for growth and is gaining market share in a generally weak market.

https://group.hugoboss.com/fileadmin/media/hbnews/user_upload/Investor_Relations/Finanzberichte/2024/2024-08-01_HUGO_BOSS_Quartalsmitteilung_Q2.pdf

The BoE decides by a narrow majority to cut interest rates for the first time. The key interest rate is lowered by 0.25 percentage points to 5.0%.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-bank-of-england-beginnt-mit-der-zinswende/100056340.html

Key dates in the coming week:

Monday: 16:00 Economic data (USA)

Tuesday: 11:00 Retail sales (EU)

Friday: 14:30 Employment data (Canada)

$BOSS (-2,36%) for me personally, a very interesting point has now come, after almost a red year, the figures actually look optimistic, but you should keep an eye on the advertising expenses, maybe a repeat purchase for me, I have to sleep on it again

@DonkeyInvestor what do you say?

Quarterly figures for EU companies on 01.08.2024

Hugo Boss +++ DHL +++ Symrise +++ BMW +++ Volkswagen +++ and many more

Heidelberger Druck $HDD (+3,07%) achieves sales of €403 million (previous year: €544 million), EBITDA (adjusted) of -€9 million (previous year: +€41 million) and a net result of -€42 million (previous year: +€10 million) in the 1st quarter. Forecast confirmed.

HUGO BOSS $BOSS (-2,36%) achieved sales of €1.015 billion in the second quarter (previous year: €1.026 billion, preliminary figures from July 15: €1.015 billion), EBIT (final) of €70 million (previous year: €121 million, preliminary: €70 million) and net profit of €37 million (previous year: €75 million).

Symrise $SY1 (+0,82%) achieved sales of €2.57 billion in the first half of the year (previous year: €2.41 billion, analyst forecast: €2.56 billion), EBITDA of €529.8 million (previous year: €446 million, forecast: €526.1 million) and net income of €239.5 million (previous year: €187.5 million, forecast: €251.2 million). Outlook for 2024 confirmed.

BMW $BMW (-1,54%) achieves Q2 revenues of €36.9 billion (previous year: €37.2 billion, analyst forecast: €37.4 billion), EBIT (Group) of €3.88 billion (previous year: €4.34 billion, forecast: €3.95 billion) and Group net profit of €2.71 billion (previous year: €2.96 billion, forecast: €2.62 billion). Outlook for 2024 confirmed.

Volkswagen (VW) $VOW (-1,62%) achieved sales of €83.3 billion in the second quarter (previous year: €80.1 billion, forecast: €81.9 billion), an operating profit of €5.46 billion (previous year: €5.60 billion, forecast: €5.38 billion) and earnings after tax of €3.63 billion (previous year: €3.79 billion). In the outlook for 2024, VW confirms the forecast for sales and deliveries.

Klöckner & Co $KCO (-1,11%) achieved sales of 2.3 million tons in the first half of the year (previous year: 2.1 million tons), EBITDA before material special effects of €83 million (previous year: €130 million) and net income from continuing operations of -€26 million (previous year: €39 million). In the outlook for 2024, the company expects a slight decline in sales compared to the previous year and EBITDA before material special effects of €120 million to €180 million.

DHL $DHL (-0,87%) achieved revenue of €20.6 billion in the second quarter (previous year: €20.1 billion, analyst forecast: €20.3 billion), EBIT of €1.4 billion (previous year: €1.7 billion, forecast: €1.3 billion) and net profit of €744 million (previous year: €978 million, forecast: €754 million). Outlook for 2024 and EBIT forecast for 2026 confirmed.

Merck KGaA $MRK (+0,07%) achieves final Q2 sales of €5.35 billion (preliminary: €5.35 billion), final adjusted EBITDA of €1.509 billion (preliminary: €1.509 billion) and final adjusted earnings per share of €2.20 (preliminary: €2.20). Outlook confirmed.

MTU Aero Engines
$MTX (+1,36%) achieves Q2 revenues (adjusted) of €1.755 billion (previous year: €1.57 billion), EBIT (adjusted) of €193 million (previous year: €242 million, analyst forecast: €223 million) and net profit of €185 million (previous year: €143 million, forecast: €163 million). Margin forecast for 2024 raised to around 13% (previously: more than 12%) Outlook for sales, adjusted EBIT margin and FCF confirmed.

Daimler Truck
$DTG (+0,21%) achieved order intake of 92,569 vehicles in Q2 (previous year: -5%), revenue of €13.3 billion (previous year: €13.88 billion), EBIT (adjusted) of €1.17 billion (previous year: €1.43 billion) and earnings per share of €0.93 (previous year: €1.11).

+++ Earnings summary this morning, 01.08. +++

Volkswagen (VW) $VOW (-1,62%) achieves sales of €83.3 billion (previous year: €80.1 billion, forecast: €81.9 billion), an operating profit of €5.46 billion (previous year: €5.60 billion, forecast: €5.38 billion) and earnings after tax of €3.63 billion (previous year: €3.79 billion) in Q2. In the outlook for 2024, VW confirms the forecast for sales and deliveries.

-

BMW $BMW (-1,54%) achieves sales of €36.9 billion in the 2nd quarter (previous year: €37.2 billion, analyst forecast: €37.4 billion), EBIT (Group) of €3.88 billion (previous year: €4.34 billion, forecast: €3.95 billion) and Group net profit of €2.71 billion (previous year: €2.96 billion, forecast: €2.62 billion). Outlook for 2024 confirmed.

-

DHL $DHL (-0,87%) generates Q2 revenue of €20.6 billion (previous year: €20.1 billion, analyst forecast: €20.3 billion), EBIT of €1.4 billion (previous year: €1.7 billion, forecast: €1.3 billion) and net profit of €744 million (previous year: €978 million, forecast: €754 million). Outlook for 2024 and EBIT forecast for 2026 confirmed.

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Vonovia $VNA (-0,83%) achieves average rent per square meter of €1. In the first half of 2024, Vonovia generated an average rent per square meter of € 7.86 (previous year: € 7.58); EBITDA (adjusted) from rental activities of € 1.19 billion (previous year: € 1.21 billion), EBT (adjusted) from continuing operations of € 887.2 million (previous year: € 945.8 million); EBITDA (adjusted) from continuing operations of € 1.27 billion (previous year: € 1.30 billion) and net income for the period of € 1.27 billion (previous year: € 1.30 billion): €945.8 million); EBITDA (adjusted) from continuing operations of €1.27 billion (previous year: €1.30 billion) and a net loss for the period of -€529.2 million (previous year: -€4.13 billion). The vacancy rate in the first half of the year was 2.2% (previous year: 2.2%) and the real estate portfolio value (as at the end of June) was €82.5 billion (previous year: €83.9 billion at the end of 2023). In the outlook for 2024, the company now sees adjusted EBITDA at the upper end of the range of €2.55 billion to €2.65 billion and adjusted EBT at the upper end of the range of €1.7 billion to €1.8 billion

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Elmos Semiconductor $ELG (-0,16%) achieved sales of €142 million (previous year: €136 million), EBIT of €35.9 million (previous year: €34.1 million) and net profit of €24.3 million (previous year: €23.0 million) in the second quarter. Outlook for 2024 confirmed.

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Symrise $SY1 (+0,82%) achieved sales of €2.57 billion in the first half of the year (previous year: €2.41 billion, analyst forecast: €2.56 billion), EBITDA of €529.8 million (previous year: €446 million, forecast: €526.1 million) and net income of €239.5 million (previous year: €187.5 million, forecast: €251.2 million). Outlook for 2024 confirmed.

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HUGO BOSS $BOSS (-2,36%) achieves sales of €1.015 billion in the second quarter (previous year: €1.026 billion, preliminary figures from July 15: €1.015 billion), EBIT (final) of €70 million (previous year: €121 million, preliminary: €70 million) and net profit of €37 million (previous year: €75 million).

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Heidelberger Druck $HDDB achieved sales of €403 million (previous year: €544 million), EBITDA (adjusted) of -€9 million (previous year: +€41 million) and a net result of -€42 million (previous year: +€10 million) in the first quarter. Forecast confirmed.

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Klöckner & Co $KCOB achieved sales of 2.3 million tons in the first half of the year (previous year: 2.1 million tons), EBITDA before material special effects of €83 million (previous year: €130 million) and a consolidated result from continuing operations of -€26 million (previous year: €39 million). In the outlook for 2024, the company expects a slight decline in sales compared to the previous year and EBITDA before material special effects of €120 million to €180 million.

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Merck KGaA $MRK (+0,07%) achieves final Q2 sales of €5.35 billion (preliminary: €5.35 billion), final adjusted EBITDA of €1.509 billion (preliminary: €1.509 billion) and final adjusted earnings per share of €2.20 (preliminary: €2.20). Outlook confirmed.

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MTU Aero Engines $MTX (+1,36%) achieves Q2 revenues (adjusted) of €1.755 billion (previous year: €1.57 billion), EBIT (adjusted) of €193 million (previous year: €242 million, analyst forecast: €223 million) and net profit of €185 million (previous year: €143 million, forecast: €163 million). Margin forecast for 2024 raised to around 13% (previously: more than 12%) Outlook for sales, adjusted EBIT margin and FCF confirmed.

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Daimler Truck $DTG (+0,21%) achieved order intake of 92,569 vehicles in the 2nd quarter (previous year: -5%), revenue of €13.3 billion (previous year: €13.88 billion), EBIT (adjusted) of €1.17 billion (previous year: €1.43 billion) and earnings per share of €0.93 (previous year: €1.11).

As every Sunday, the most important news from the past week, as well as the most important dates for the coming week:

https://youtube.com/shorts/f7psnYvAflo?si=-AdiYVwhNRq8WERK

Monday:

Business is getting worse for many companies in China 🇨🇳. This is not necessarily due to stronger competition. The Chinese economy is generally worse. It has to do with the real estate crisis, which is also having an impact on consumption. GDP growth has now fallen to 4.7%, which is below expectations.

https://www.handelsblatt.com/politik/international/wirtschaftsdaten-chinas-wirtschaft-waechst-langsamer-als-erwartet-sozialer-vulkan-brodelt/100051565.html

Tuesday:

$BOSS (-2,36%) HUGO BOSS cuts its forecast for the year. The current market environment is challenging. The competitor Burberry already had to adjust its own forecast yesterday. Nevertheless, the Group still expects sales to increase by 1 - 4 % to EUR 4.2 - 4.35 billion. The forecast for EBIT has been lowered to -15 % to +5 %.

https://www.handelsblatt.com/unternehmen/dienstleister/modekonzern-marktumfeld-herausfordernd-hugo-boss-kappt-jahresprognose/100053148.html

At $ADS (-1,54%) Adidas also recently lowered its forecasts. Now the opposite picture. The company is probably heading for double-digit sales growth again and the forecast has been raised. A billion-euro profit could be possible again for the year as a whole. The further sell-off of the Yeezy collection alone brought in 50 million extra profit. With Spain and Argentina, Adidas has also backed the right teams.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/sportartikelkonzern-adidas-erhoeht-erneut-gewinnprognose-aktie-legt-zu/100053343.html

Retail sales in the USA 🇺🇸 were convincing. There was only stagnation. However, the US economy is unlikely to slide into recession despite the high interest rates, which will also cause the US stock markets to rise further.

https://www.handelsblatt.com/finanzen/maerkte/marktberichte/dow-jones-sp-500-nasdaq-us-konjunkturdaten-treiben-wall-street-an/100053308.html

Wednesday:

$HEN (+0,21%) Henkel (consumer goods manufacturer) can show significantly better figures. Operating profit increased by 28.4% and the forecast was raised. Sales also increased in the mid-single-digit percentage range.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/konsumgueter-henkel-steigert-gewinn-um-fast-30-prozent-und-hebt-prognose-an/100053560.html

Donald Trump is questioning the USA's defense of Taiwan, causing a sell-off in the chip sector. As more and more evidence points to a Trump election victory, his words are already influencing the global markets.

https://www.handelsblatt.com/technik/it-internet/asml-nvidia-tsmc-amd-aktienkurse-der-chiphersteller-brechen-ein/100053589.html

Thursday:

$TSM (+1,17%) TSMC exceeds expectations, but Trump's statements overshadow the good figures. The share price falls in pre-market trading, despite a surprising 36% increase in profit.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-im-newsblog-novartis-hebt-prognose-an-abb-meldet-deutlich-bessere-geschaefte/24098412.html

As expected, the ECB refrains from lowering interest rates for the time being. However, the ECB considers itself to be on course, which is also being signaled by companies that expect fewer price increases and lower wage demands. This will slow down inflation.

https://www.handelsblatt.com/finanzen/maerkte/geldpolitik-ezb-verzichtet-zunaechst-auf-weitere-zinssenkung/100053214.html

Friday:

Due to a faulty update at $CRWD (+2,94%) Crowdstrike, large parts of the world had connection problems today. Fortunately, we were not affected, as we ran a workshop with our learning software all day today. However, this meant that business operations were restricted at many companies today. This is all the more annoying as Crowdstrike is actually an IT security company. This has probably caused irreparable damage to our reputation.

https://www.handelsblatt.com/technik/it-internet/crowdstrike-dieses-unternehmen-hat-die-welt-ins-it-chaos-gestuerzt/100054032.html

Most important dates in the coming week:

Wednesday: 9:30 Purchasing Managers' Index (DE)

Thursday: 14:30 Economic data (USA)

Friday: 1:30 Inflation data (Japan)