Brenntag DE Azione Forum

Good morning everyone,

What do you think of the company $BNR (-0,65%) ?

Hi guys,

I came across the Altie $BNR (-0,65%) ... looks like a strong company fundamentally ... chart is also great

does anyone have an opinion on the company?

Brenntag continues to put on the turbo. 🚀

Lanxess tops, while BASF flops.

It is now very clear that only certain managers have internalized the corporate philosophy that enables them to lead companies through even the toughest crises.

Just under a month ago, I wrote an introduction to $BNR (-0,65%). Since then, there has not only been a veritable share price rally, but also great operational momentum.

Yesterday, December 7, the Brenntag subsidiary "Brenntag Specialties" signed an exclusive distribution agreement with Halox, the $ICL - subsidiary, for the Brazilian market.

This provides further impetus for the future. Not only does the company sense that Brazil is currently the strongest investment market and the associated economic peaks, but it also sees opportunities in the lucrative market for paints and coatings, which are extremely high-margin and cyclically robust in the chemical goods sector.

There was also great news for Lanxess $LXS (-3,58%) there was also great news:

• On the one hand, CEO Matthias Zachert bought ~€200,000 worth of shares, sending massive momentum to the broader market.
• Secondly, as I expected, the investor presentation showed that Lanxess is not dependent on outside capital, which investors had expected. The inflows from the operating business are driven by the efficiency increase in the course of the savings program and the short-term liabilities until 2025 can be covered with own funds.

BASF $BAS (-5,27%) remains one of the worst performers in the important German nuclear industry and will not see any improvement.

Although a comprehensive restructuring of the Group was also announced yesterday, this will also have no effect.

Among other things, the following measures were announced:

• Legal separation of the agriculture, battery business and coatings divisions and the associated margin increases
• Restructuring, in particular of the main plant in Ludwigshafen
• Reduction of the investment budget

So while getquin continues to celebrate a stable dividend, very few people are concerned about the future of the Group. Ultimately, the money that is missing from the investment budget is distributed from within the Group. Without a stable investment strategy and the associated innovations, BASF will lose further market shares, as these are currently only being bought through high discounts anyway, while margins are falling.

Here again, some clever people would argue with the gas price. However, commodity prices are in fact hardly relevant in purchasing. Prices will have normalized again in the course of 2023.

The crucial point for the continued weakness of the industry remains the downstream markets, in particular the construction and real estate sector, which has almost come to a standstill as a result of the price jumps in 2022 and most companies in these sectors are currently struggling to survive.

Another important point for holders of the share is likely to be the succession of the CEO. Unfortunately, relevant investors currently have little confidence in the share. The shares are predominantly held by private investors. Perhaps this should give people pause for thought, if only the social media feed can smell the incredible turnaround.

Brenntag - a great company for difficult times

After commenting on the downward trend in the DAX in my article on BASF, I would now like to present another DAX-listed industrial group that is quite robust for difficult economic times, but could certainly also be worthwhile in the future.

Chemicals trading is booming in times of economic downturn. Large customers tend to order smaller containers due to inventory optimization, which is why the order intake of producers in relation to distributors has slumped rapidly in some cases.

One company from the chemicals trading sector is Brenntag $BNR (-0,65%) . In addition, there are mainly medium-sized companies in this sector.

But why are chemicals traders doing relatively well, while large-scale producers are experiencing a massive drop in orders?

The following points are particularly important in the industry's production planning:

• Profitability
• reliability
• quality

This means that in times of economic downturn, production is predominantly "on sight" until a recovery in the order situation can be forecast. Accordingly, fewer raw materials and the resulting goods are required. Nevertheless, a corresponding production process must be ensured at a reduced capacity for economic and climatic reasons (especially in winter due to the risk of frost). Storage capacities are usually reduced in order to stabilize the market price of the end product and thus avoid sponging the market and possibly operating unprofitably.

One can therefore certainly speak of risk reduction.

This in turn results in a preference for smaller containers of raw materials and products. This is where retailers/distributors come into play.

They buy their goods from large producers at standard industry prices and fill them themselves into smaller containers (canisters, IBCs, etc.) or configure them to new specifications. For most chemicals, this can be done by diluting them with water.

Expansion

Brenntag is probably the most rapidly expanding distributor in its field. In addition, there are double-digit, high sales growth rates in the "new" markets, above all the USA. With strategic acquisitions, Brenntag is not only securing its position in North America, but is also expanding strongly in Eastern Europe in particular, covering the value chain of retail and logistics with its core competencies. With this broad product range and first-class service, the company is one of the most reliable partners in the chemical industry and is therefore rightly on course for expansion.

Margins

With a net margin of ~4%, the company is of course far from being a cash cow. Nevertheless, it is interesting for a future investment perspective. The growth strategy that Brenntag is currently pursuing should be kept in mind. Due to the expansion, growth is to the detriment of the margin, as the acquisition of customers can only guarantee a long-term partnership through high discounts on new contracts. As the partnership continues, these contracts become more expensive. However, industrial customers tend to be less inclined to switch suppliers due to a price issue (with the exception of exorbitant savings, of course). Industrial customers tend to focus primarily on the reliability and quality of the product.

To this end, Brenntag branches regularly undergo certification and also invite external audits so that customers, partners and interested parties can form their own impression of the industrial partnership.

It is therefore almost certain that the management will focus more on business optimization and thus also on margins as growth slows down.

The marketability of dangerous goods trading

One must always be aware of the fact that the business model is predominantly or almost exclusively concerned with trading in hazardous substances of various classes. This can certainly open up optimistic prospects, as this business model operates internationally relatively independently of the given economic fundamentals. After all, there is no producer risk and therefore no raw material costs and associated risks. Procurement always takes place from the major producer.

However, the environmental aspect should be emphasized more clearly. Due to the higher logistical effort involved, the risk of accidents is higher than with a stationary production plant. Accidents can be reduced, but not avoided. Significant penalties imposed by external authorities and courts could cause profound damage to the business model and public perception.

Hydrogen peroxide - chemistry in everyday life

Everybody likes it, nobody notices it. A new currency besides the euro was created. In the Corona pandemic, nothing was more popular than toilet paper. But paper doesn't have the white sheen you can buy in the supermarket. Bleaching agents are needed for that. An excellent bleaching agent is hydrogen peroxide. It is environmentally friendly, non-toxic and versatile.

What is hydrogen peroxide?

Hydrogen peroxide is a colorless, clear liquid consisting of hydrogen H2 and oxygen O2. In the compound, it is chemically expressed as H2O2. However, it is a very unstable compound, as under natural conditions the reaction of hydrogen and oxygen is more commonly known as an oxyhydrogen reaction. Because of this, direct contact of hydrogen and oxygen must be avoided! By the way, this is also a very good example, why one should perhaps deal more critically with the topic of hydrogen heating and large-scale pipelines, as well as large-scale projects, from safety aspects.

So how is it produced?

There actually exists a large-scale direct contact process via electrolysis. Neither is it really profitable, nor does it find convincing industrial application.

Therefore, to avoid direct contact, a reaction carrier must be used. Anthraquinones are used for this purpose. They are loaded with hydrogen and oxygen in two independent chemical processes and finally washed out with water to produce an aqueous solution of hydrogen peroxide. This must be further processed for the purity of the clear end product.

Where is hydrogen peroxide used?

Important: When hydrogen peroxide is used, its decomposition is inevitable. This produces water and oxygen. The oxygen, in turn, can have a fire-promoting property.

In fact, hydrogen peroxide is a basic chemical in our modern way of life. It is predominantly used in the paper industry as a particularly environmentally friendly variant of bleaching agents. It replaces the former chlorine bleach in the majority of cases, thus protecting both people and the environment. As a result, it is also used in dentistry, especially in tooth whitening for your radiant smile.

It is also very versatile in water technology. It cleans organic impurities and kills bacterial pathogens.

Furthermore, it is also used as a disinfectant due to its disinfecting properties. However, this is only used in very low concentrations of up to 10%. The application of disinfectants is again very versatile and can be found, for example, in agriculture, medicine, biology, forensics and many other fields.

Who plays a decisive role in this?

In particular, there are 3 major notable producers in the industry. These are Solvay $SOLB (+0,07%) , Arkema $AKE (-0,99%) and Evonik $EVK (-2,87%) .

However, hardly anyone needs tons of loose containers, which is why in this area chemical dealers represent a large part of the customers, in addition to paper mills. Other companies listed on the stock exchange include Brenntag $BNR (-0,65%) and many other companies outside the capital market.

This is subject to the fact that large-scale mass concentrations are usually in the range between 50% and 70%. However, this is too much for general use, so that they are further diluted.

Where are the strengths of these divisions?

Hydrogen peroxide is anything but a niche. It is the basis for the production of many specialty chemicals, which is why the margins are above average for chemicals. Furthermore, it can be committed to sustainability, since the basic chemicals are hydrogen and oxygen. The range of applications is very broad and it is impossible to imagine a modern, hygienic society without them. The use of "green" hydrogen would therefore also result in "green" hydrogen peroxide".

The saturation of the production markets would hardly attract any further competitors into the market, so that the market is largely divided among the top dogs.

What are the weaknesses?

The production of hydrogen peroxide is always linked to hydrogen prices, which in turn are linked to natural gas. Corresponding burdens had to be borne in 2022 and were also evident from the balance sheets.

One has a relatively vulnerable import dependency, since the production of the working solution base materials takes place almost exclusively in India and China.

The weakening paper market in the wake of digitalization is forcing manufacturers to tap into new markets. The specialty market is particularly in demand, also due to the high margins of approx. 20%.

What is the current market situation?

Just yesterday, the VCI (German Chemical Industry Association) published its expectations for the full year. Overall, the chemical industry continues to suffer from persistently high raw material costs. Demand in general is conceivably weak. There is no recovery in sight for the time being.

This indicates that end consumers, i.e. us in the supermarket, are very hesitant. We are obviously no longer reaching for the more expensive products or preferring to take advantage of special offers. We must remember that, although we are talking about large-scale industry here, it can ultimately only earn its revenue from consumers. Uncertainty in our minds and our behavior is therefore causing the industry to suffer.

Therefore, please buy toilet paper, toothpastes and proper white paper, because I am invested in Arkema. 😂

How penguins revolutionized our modern agriculture.

Hello dear community,

Thank you for the great feedback on my last post. I hope your oven survived the practical tests well.

For those who want to show their oven new horizons, go here to the mentioned post:

https://getqu.in/2A360BDV8GYN/n12zGfGeeF/

Once again as food for thought, as I myself will run out of topics in a few weeks.

What topics from the industrial, energy or chemical sectors do you perhaps scrutinize more often than investors?

Enclosed is my heartfelt comment on the topic of "ammonia". I hope you like it.

Why ammonia is the better alternative to "green" hydrogen.

1. meaning and history:

Ammonia is one of the most widely produced chemicals in the world. "Bread from air" was the name researchers Fritz Haber and Carl Bosch gave to their process, which still moves the world today - ammonia synthesis.

During the competition for fertilizers in the Industrial Revolution, it was ultimately again the competition between the major European powers where the land of the "poets and thinkers" opened up a revolution.

Based on research by the biologist Justus von Liebig, nitrogenous fertilizers experienced an incredible boom in demand. Today, this can be compared more with the semiconductor industry.

Natural deposits of such fertilizers were limited. The potential here lay in Chile saltpetre and guano (a mixture of excrement from sea birds, such as penguins on limestone).

So while nowadays people tend to look for dependencies, almost 100 years ago they wanted to limit dependencies.

Ostwald took the first steps and achieved success with synthetic fertilizers with his Ostwald process. Today, however, this process is used more for the production of nitric acid.

Birkeland, a Norwegian, with the support of industrialist Sam Eyde, developed a process for producing nitric acid using an electric arc. However, this was drastically inefficient.

Now let's get to the real issue:

The Germans' drive for self-sufficiency was unbroken. The chemists Fritz Haber and Carl Bosch thus developed a large-scale synthesis based on nitrogen, which makes up almost 80% of the air, and hydrogen. BASF showed great economic interest in this $BAS (-5,27%) . This not only led to a cooperation. In 1913, the first industrial-scale plant for the production of ammonia was built in Ludwigshafen, with a capacity of 30 t/day, which was enormous at the time.

Due to the First World War and the resulting capacity for explosives, further plants were built in Bitterfeld and Leuna. Incidentally, this construction still represents the basis for the significant chemical industry in Saxony-Anhalt today.

2. "Bread from air" - the process in color.

Conventional production (gray):

To produce ammonia NH3 you need nitrogen N2 and hydrogen H2. Nitrogen can be easily obtained by air injection. Hydrogen was obtained by chlorine-alkali electrolysis. Nowadays, however, hydrogen is primarily produced from natural gas by steam reforming.

After a relatively simple process, you end up with a really nasty, pungent-smelling liquid.

"Green" production:

The "green" production of ammonia differs only slightly from the conventional process.

Since nitrogen is already taken from the air and therefore does not generate any greenhouse gases, CO2 savings are only possible in the production of hydrogen H2.

In this case, hydrogen must be fed directly from water by means of electrolysis. At least this would be the most efficient way, since no further change of state of hydrogen has to be taken into account.

Thus, the process only changes in the production of the raw material "hydrogen". The rest of the synthesis is also carried out here according to the Haber-Bosch process.

3. use - Why is ammonia actually so important for private use?

Ammonia is an important chemical raw material for just about all branches of industry. Already in private use we find it for example in:

- our refrigerator (refrigerant)

- our clothing (dye)

- diesel vehicles for exhaust gas treatment (Adblue as urea solution)

- proteins in the body and in the urea cycle as a degradation product of an endogenous "overdose

4. what does this mean in terms of possible profiteers with regard to an investment?

Of course, we have to ask ourselves the question behind the how, what and why. In general, ammonia can now be counted as part of the energy storage segment, but it receives much less attention in this regard than hydrogen.

The world's largest publicly traded manufacturers are Yara $YAR (-3,58%) and CF Industries $CF (+0,18%) Yara, which also produces ammonia itself, but belongs more to the chemicals trade, like Brenntag, as an industry. $BNR (-0,65%) as an industry. Therefore one is also more crisis-proof in recessionary times. Chemical distributors can issue containers of any size and purchase large batches, thus retaining the difference as a margin. This tends to make customers more willing to buy smaller containers in times of economic uncertainty, thus reducing inventories in the event of a production outage due to lack of demand.

CF Industries, on the other hand, is a "real" producer and has been aiming to produce "green" ammonia since this year.

The tendency now, in terms of advanced processes, is not to feed air because of the better efficiency, but pure nitrogen. In parallel, of course, hydrogen. The manufacturers can usually demonstrate the relevant process expertise themselves, so that dependence on hydrogen suppliers can actually be ruled out. One exception is Linde's engineering division. $LIN represents an exception. They have knowledge of entire hydrogen and ammonia plants. Incidentally, this would also be a further reason against the "small" hype stocks, such as Nel $NEL (-4,59%) or Plug $PLUG (+1,6%) from the hydrogen segment and why they are unlikely to catch on. After all, ammonia would be a gigantic consumer for this industry. Nevertheless, ammonia producers are funny low valued on the stock market. P/E ratios average 5. Whereas some shares of the largest hydrogen ETF are valued $HTWO (-0,37%) are valued at >20, if they can show any profits at all.

One example:

CF-Industries is valued at around €14 billion. Plug Power is still valued at just under €7 billion. That is half. While Plug has been burning money for years and is not even making billions in sales, CF is extremely profitable.

Both are superior in the "clean" energy segment. Yet CF is expected to see its business decline in the coming years. That is inexplicable and illogical, and it certainly won't happen that way.

But where are the growth potentials?

This is really extremely difficult to assess in this area, as the market is largely saturated and divided up.

In general, however, one should really emphasize BASF. Although the closure of ammonia production at the Ludwigshafen site is attributable to the high production costs in Europe, the entire value chain of products in the ammonia sector is largely retained.

In the following, I would now like to take a closer look at some products which, in my opinion, have a high growth potential and are based on ammonia. Due to the growth potential of the following, the ammonia production of the manufacturers should also be stable in the future and gain in importance naturally.

Urea:

Contrary to popular belief, urea is not merely ammonia or a solution of it. It is a chemical compound in its own right and a by-product of ammonia.

With a market share of 46%, urea is the nitrogenous fertilizer par excellence. The trend, of course, is for it to continue to grow as the global population continues to rise. Furthermore, many raw materials of the future will be plant-based. So of course there is considerable growth potential here, too, and a secure, crisis-proof market. People always eat!

3 exemplary representatives: Yara $YAR (-3,58%) , CF Industries $CF (+0,18%) , Finished Lobe $FERTIGLB

Nitric Acid:

Nitric acid is probably the best known nitrogenous acid. In high concentrations, however, it is extremely dangerous, since nitrous gases escape, which are toxic and corrosive. It is needed as a base material for explosives such as TNT or nitroglycerine and is therefore essential for the mining sector. Also here Yara can be found again. And no, this is not intended as an advertisement. But they have the majority of the ammoniacal and nitrous production in their own hands and appreciate lucrative business very much.

Off-market sizes in this context are, for example, still SKW Piesteritz GmbH or Staub & Co. and many other medium-sized companies.

Aniline:

Although aniline is only produced in the final stage with ammonia in modern processes, it is still a steady market with growth. Earlier processes involved a complete reaction chain with ammonia. Aniline is a basic material for the production of paints, medicines and artificial rubber, as well as fibers aka synthetic fibers. As a substance, aniline is also the eponym of the largest chemical company BASF $BAS (-5,27%) which is derived from the original name of the Badic Aniline- and Soda-Fabrik originates.

In addition, however, DuPont $DD (-2,43%) , Shin-Etsu $4063 (+1,07%) or Eastman $EMN (-1,22%) offer many aniline-based products.

6. ammonia as the fuel of the future?:

The purpose behind my contributions is, of course, to communicate energy sources of the future and to focus on diversification.

Solution as fuel alternative:

Since ammonia consists of 75% hydrogen and 25% nitrogen, it is easy to split again with the help of a so-called ammonia cracker. This means that hydrogen can be used to generate energy in a fuel cell, for example, and its efficiency is many times higher than that of hydrogen. Nevertheless, it lags far behind the battery vehicle.

Nevertheless, well-known companies, especially from the heavy-duty transport sector, have come forward to consider ammonia as a solution for the future.

The German Railways wants to convert some of its freight trains to ammonia in order to minimize its diesel fleet.

Also the VW subsidiary $VOW (-2,5%) , MAN, is working on ammonia-based marine engines.

John Deere $DE (-2,8%) is also working on such engines for medium-heavy tractors.

7. ammonia as energy storage and what advantages does it have now?

The main focus here is the fact that hydrogen is needed to produce ammonia, but would have to be liquefied in an energy-intensive way for transport.

A brief review: Hydrogen must be cooled to about -250 degrees Celsius for this and compressed to 700 bar.

Ammonia, on the other hand, can be liquefied at 20 degrees Celsius, i.e. room temperature, and at about 8 bar.

The energy input is therefore dramatically lower. In addition, the energy density of ammonia (~3.3 kWh/l) is higher, since hydrogen (~2.2 kWh/l liquid) is chemically bound as an energy carrier in this process, thereby reducing the volume of hydrogen.

Corresponding parameters are taken from the "Formelsammlung" of the Duden publishing house.

In addition to the advantage I described above, that the compression cost of ammonia is much lower than that of hydrogen, there is the fact that ammonia can also be easily stored chemically and stored much more advantageously. For example, ammonia can be converted into a salt, making it very easy to store and transport as a solid. At about 60 degrees Celsius, the given salts decompose and release ammonia.

But even without conversion, ammonia can already be used as a gas, since the infrastructure of the natural gas network would be designed for ammonia. It can be transported by ship, by pipeline, but also in ordinary gas cylinders or gas cartridges.

This is because the structure of ammonia is coarser and larger than that of hydrogen.

What is the general disadvantage of ammonia?

The main disadvantages are the acute health and environmental hazards posed by the substance. In the event of leakage, there would be lasting environmental damage to animals, nature and humans.

Ammonia has only a quarter of the energy of gasoline and only half of that of diesel. Accordingly, it would take twice as much as fossil fuels.

Incomplete combustion, which is also quite common in engines, produces the narcotic and extreme greenhouse gas "laughing gas". Engines must therefore burn extremely efficiently and carefully.

Postscript:

I hope you enjoyed this article.

The next article will look at the chemical processing of lithium. The CO2 balance is interesting, but the focus will be on the fact that the stock market completely misjudges the value chains and the valuations distort the real economic picture.

The next 5 companies in my DAX40 buy and sell targets series

No investment recommendation :) Only my opinion.

$BEI (-0,46%) Only HOLD with an aggressive stop loss or SELL.

I would not buy this stock before 60$. Potential sell target at 115€.

$BMW (-3,91%) BUY.

Potential buy prices I see at 66-58€ and at 43-36€.

Potential selling prices from 111€

$BNR (-0,65%) SELL

Potential selling prices between 64 - 69€

Buy only between 49-43€ and 33-28€

$523232 Continental : BUY with Aggressive Stop Loss -> Currently Good Risk Reward.

Potential buy entries at 52-44€ Stop Loss at 41€.

Potential sell targets at 120-130€ / 150-175€ / 210-220€.

$1COV (-0,62%) BUY : I personally find it very interesting.

Potential buy entries I see at 32-27€ / 26-23€.

Potential sell targets at 50€ (for quick profit taking) at 73-80€ / 86-92€.

Quarterly figures on 09.11.2022....

Pocket money for the kids only in Robux, that's the Roblox Währung⤵️

The market currently really forgives no slip-ups in the numbers! You can see that again today:

$RBLX
Roblox:

misses analyst estimates of -$0.30 in the third quarter with earnings per share of -$0.50. Sales of $517.7 million below expectations of $690.79 million.

$TTD (+3,69%)
The Trade Desk Inc:

Surpassed analyst estimates of $0.22 in the third quarter with earnings per share of $0.26. Revenue of $394.77 million exceeded expectations of $385.98 million.

$ADS (-1,81%)
adidas:

Posts Q3 sales of €6.40 billion (PY: €5.75 billion), gross profit of €3.14 billion (PY: €2.88 billion), operating profit of €564 million (PY: €672 million), pre-tax profit of €411 million (PY: €629 million). In its outlook for fiscal year 2022, adidas now expects low-single-digit percentage sales growth for the overall company on a currency-neutral basis. The company expects a gross margin of around 47.0% in 2022. Operating margin in 2022 is expected to be around 2.5% according to the new expectations and profit from continuing operations to reach a value of around €250 million.

$SIX2 (+0,13%)
Sixt:

Achieves Q1-3 revenue of €2.32 billion (PY: €1.63 billion, analyst forecast: €2.32 billion), EBT of €506.3 million (PY: €317.4 million, forecast: €496 million). In its outlook for 2022, Sixt now expects to achieve the upper forecast range for EBT.

$DEZ (-3,78%)
DEUTZ:

Achieves Q3 sales of €465.4 billion (PY: €403.2 billion), order intake of €442.1 million (PY: €485.2 million), Ebit (adjusted) of €23.3 million (PY: €14.1 million), free cash flow of -€45.1 million (PY: +€5.5 million) and net income of €17.1 million (PY: €10.4 million). In its outlook for 2022, the company now expects unit sales of between 175,000 and 185,000 DEUTZ engines, leading to revenue growth to between €1.75 billion and €1.85 billion. The adjusted EBIT margin is expected to be in a range of 4.5 to 5.0 percent. Free cash flow is expected to be in the low to mid double-digit negative million euro range.

$LXS (-3,58%)
LANXESS:

Posts Q3 sales of €2.185 billion (PY: €1.58 billion, analyst forecast: €2.0 billion), Ebitda (Pre Ex) of €240 million (PY: €229 million, forecast: €237.6 million) and net income of €80 million (PY: €74 million). In the outlook for 2022, the company expects Ebitda (adjusted) of €0.90 to €0.95 billion (previous year: €0.90 to €1.0 billion, forecast: €942 million).

$HDD (-0,05%)
Heidelberger Druck:

Achieves 2nd quarter sales of €590 (previous year: €542 million), incoming orders of €622 million (previous year: €593 million), Ebitda of €68 million (previous year: €60 million), Ebitda margin of 11.6% (previous year: 11.0%), and net profit of €39 million (previous year: €27 million). Outlook for 2022/2023 confirmed.

$BNR (-0,65%)
Brenntag:

Reports Q3 sales of €5.1 billion (PY: €3.738 billion, analyst forecast: €4.6 billion), Ebitda (adjusted) of €459.7 million (PY: €342.9 million, forecast: €453 million) and net profit of €248.8 million (PY: €161 million). Profit outlook for 2022 confirmed.

$EVT (-0,84%)
Evotec:

Achieves Q1-3 revenues of €510.8m (PY: €431m, forecast: €520.5m), Ebitda (adjusted) of €44.6m (PY: €70.1m), 2022 outlook and mid-term targets confirmed.

$CBK (-1,43%)
Commerzbank:

Reports Q3 revenues of €1.886 billion (PY: €2.006 billion, analyst forecast: €1.780 billion), an operating profit of €282 million (PY: €472 million, forecast: €137 million) and a net profit of €195 million (PY: €403 million, forecast: €116 million). Loan loss provisions were reported at €84 million in Q3 (PY: €22 million, forecast: €133 million). Commerzbank expects 2022 loan loss provisions of around €700 million, a CET1 ratio of over 13.5%; net interest income of over €6 billion and net profit of over €1 billion (forecast: €1.18 billion). Further dividend of 30% of net profit after deduction of AT-1 planned. In the outlook for 2024, Commerzbank sees operating profit rising from €3.0 to €3.2 billion, with earnings guidance now expected at €10 billion (previously: €9.1 billion).

$SHL (-1,29%)
Siemens Healthineers:

Reports Q4 sales of €6.0 billion (previous year: €5.16 billion, outlook €5.8 billion), Ebit (adjusted) of €1 billion (previous year: €0.793 billion, analyst forecast: €0.977 billion) and net income of €636 million (previous year: €466 million). In the outlook for 2022/2023 the company expects adjusted earnings per share of €2.00 to €2.20 (forecast: €2.23). Proposed dividend 2021/2022 of €0.95 (PY: €0.85) per share. Diagnostics business to be restructured.

$EOAN (-1,03%)
E.ON:

Reports Q1-3 sales of €81.6 billion (PY: €48.1 billion), Ebitda (adjusted) of €6.1 billion (PY: €6.3 billion) and net income of €2.1 billion (PY: €2.2 billion). E.ON confirms outlook for 2022 at Group level.

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#thetradedesk

getquin Daily Summary 05.07.2022

Hello getquin,

how was/is your day on the stock market? For me it was a bit more relaxed than the last weeks. Today: Dax companies raise salaries, Nexo wants to buy Vauld and Zimbabwe wants to introduce gold coins. In the special it is about the revaluation of Klarna!

Europe🌍:

1. DAX corporations increase salaries due to inflation

The first Dax companies are increasing their salary budgets because of increased inflation. This is the result of a survey conducted by Handelsblatt among the nation's 40 largest listed companies.

According to the survey, the latest budgets for pay increases at semiconductor manufacturer Infineon and chemicals trader Brenntag are above expectations. According to the survey, companies such as Adidas, Merck, Deutsche Telekom and Vonovia are increasingly factoring inflation into their pay calculations.

The corporations are responding to protracted, significant price increases with their unanticipated raises. The inflation rate in the euro zone rose to a new high of 8.6% in June. In Germany, the rate fell slightly to 7.6 percent from 7.9 percent in May.

Well, have you already been stocked up? https://bit.ly/3urXO9v

🟥 $BNR (-0,65%) (🔽 -3,25%)

🟥 $IFX (-0,83%) (🔽 -2,91%)

America🌏:

2. nexo offers purchase of Vauld

Crypto lender Nexo has signed a term sheet with rival, Vauld, giving the company 60 days for exclusive talks on a full takeover of the company. If the acquisition is successful, Nexo plans to restructure the company and seek expansion in Southeast Asia and India. Vauld had ceased operations on Monday, saying it was exploring restructuring options due to "financial challenges."

More on the purchase: https://cnb.cx/3bKBt0p

Africa 🌍:

3rd Zimbabwe to introduce gold coins as local currency crashes

Zimbabwe's central bank has announced it will begin selling gold coins as a store of value this month in a bid to curb runaway inflation that has significantly weakened the local currency.

Central Bank Governor John Mangudya said in a statement Monday that the coins will be sold in local currency, U.S. dollars and other foreign currencies starting July 25 at a price based on the current international gold price and production costs.

Special:

4. new valuation of Klarna

Swedish payment services company Klarna was once considered the most valuable startup in Europe, with a valuation of over $45.6 billion. Sebastian Siemiatkowski, the company's founder, is currently negotiating with investors for a new round of funding of around $650 million, at a valuation now of just $6.5 billion.

Read more here: https://bit.ly/3acbZJa

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Time: 17:00 CEST

Fun Fact:

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