profits
The world's largest jewellery manufacturer, Pandora, has recently upped its full-year organic growth guidance, driven primarily by its move to widen its product range. The company reported its second quarter 2024 earnings on Monday, seeing a revenue of DKK 6,771m (€907.40m) during this period, up from DKK 5,894m (€789.78m). Six percent of this revenue growth was because of network expansion. This, along with the greater product choice, also led to higher store traffic, which in turn contributed to the strong revenue. Operating profit came up to DKK 1,338m (€179.30m) for the second quarter 2024...
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German electrolyser manufacturer Thyssenkrupp Nucera has revealed robust sales for the third quarter of 2024, driven mainly by its alkaline water electrolysis (AWE) business. Group sales during the third quarter surged 26% on a year-on-year basis touching €235.7m. For the AWE arm, sales shot up to €132.5m, up from €110.5m in the corresponding quarter last year. This was mainly driven by continuing progress at the Saudi Arabian NEOM water electrolyser project, as well as Sweden's H2 Green Steel project. Despite the rise in sales, earnings before interest and taxes fell to €0.7m in the third qua...
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Media giant Disney recently announced that it was planning to invest about $5bn (€4.58bn) in Europe and the UK, to make more TV shows and blockbuster movies, especially superhero movies, according to the Financial Times. This move follows the recent release of the Deadpool & Wolverine movie, which has been a major success. The film, produced in the Pinewood Studios in Buckinghamshire in the United Kingdom, reached $900m (€824.61m) in global box office revenues earlier this week. According to American ticketing company Fandango, the film’s pre-ticket sales were the best for this year. This tren...
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Siemens announced on Thursday that it had made an industrial profit of €3.3bn during the third quarter of the year, beating a forecast of €2.84bn given by company analysts. The 11% year-on-year jump was boosted by high demand for Siemens' electrification and industrial software businesses, although the firm noted that challenges persist in its industrial automation division. During its previous results report, Siemens noted that this unit, which provides technologies to enhance industrial processes, was struggling. Siemens' overall orders, meanwhile, fell 15% year-on-year to €19.8bn, although ...
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German pharmaceutical giant Bayer AG released its second quarter and half year 2024 earnings on Tuesday morning, with the company seeing an average performance in the second quarter, due to the agricultural market environment becoming tougher. This led to the company seeing increased sales, but falling earnings in the second quarter of 2024. The Bayer Group saw group sales of €11.1bn for the second quarter this year, which was a 3.1% rise on a currency and portfolio-adjusted basis. Earnings before interest, tax, depreciation and amortisation (EBITDA) before special items in Q2 2024 was €2.1bn,...
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International Airlines Group (IAG), owner of Aer Lingus, British Airways and Iberia has again withdrawn from its takeover bid of €400m for Spanish airline Air Europa. It is the second time it has done so. IAG already owns 20% of Air Europa, with the remaining 80% belonging to Globalia, a Spanish tour operator. Luis Gallego, chief executive officer (CEO) of IAG said: "We believe this decision is in the best interests of our shareholders. IAG remains committed to its strategy, including competing effectively from its Madrid hub. "This is a strategy which is delivering strong results. We will con...
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Tech giant Intel recently revealed that it would be cutting more than 15% of its total workforce, as well as stopping its dividend in the last quarter of this year. This move comes in an attempt to implement a new strategy aimed at boosting the company’s loss-making manufacturing arm. The cost reduction plan worth about $10bn (€9.25bn) is expected to lay off approximately 17,500 employees globally, with most posts due to be cut by the end of this year. Apart from a decreasing the staff headcount, the plan will also focus on building a sustainable financial model to speed up profitable growth. ...
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Lufthansa Airlines has reported a net loss of -€265m for the first half of 2024, down from a net profit of €414m for the same time last year. Total revenue for the first half of the year was €17,399m, an increase of 6% from the first quarter 2023. The net loss in the first half 2024 was mainly because of increasing seating capacities in planes leading to lower airfares, as well as the company seeing ongoing delays in plane deliveries in the first half of the year. This was compounded by soaring strike costs and structural issues. Operating income for the first half of the year was €18,807m, up...
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Beer volumes at Dutch brewing company Heineken inched up 2.1% in the first half of the year, below the 3.4% expected by the market. The company also reported a revenue of €17,823m for the first half of 2024, representing a 2.2% rise on the same time last year. Operating profits rose 12.5% to €1,542m but below analysts' forecast of 13.2%. The company saw a diluted earnings per share of €2.15, a growth of 5.9%. The company has taken a hit of €874m on its investment in China Resources Beer, the country's largest brewery, as the latter's share price dropped because of falling demand. Heineken, whi...
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Italian oil and gas giant Eni has reported its second quarter earnings, with the company seeing an adjusted net profit of €1,519m for Q2 2024, a 21% drop from €1,935m in the corresponding quarter last year. Although this was a decline compared with last year, the company still exceeded analyst expectations of €1.42bn, because of its gas and liquefied natural gas (LNG) departments doing exceptionally well. Adjusted net profit for H1 2024 was €3,101m, a 36% drop from the €4,842m seen in the first half of 2023. The company's net cash from operations came up to €4,571m in the second quarter of 202...
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