ROUNDUP: Infineon lowers forecast again and launches savings program

NEUBIBERG - Semiconductor manufacturer Infineon has lowered its forecast for the current year for the second time in a row. The industry continues to suffer from high inventories, demand for consumer-related applications continues to weaken. And now the previously robust growth in chips for the automotive industry is also slowing due to a dip in electromobility in Western markets. Infineon now wants to take countermeasures with a cost-cutting program. Investors are also betting that the worst will soon be over. The share price rose significantly on Tuesday.

ROUNDUP: Zalando returns to operating profit - but no sales growth

BERLIN - Thanks to its cost-cutting measures at the beginning of the year, Zalando is back in the black in its day-to-day business. The online fashion retailer was also able to significantly limit its bottom line loss. "Our growth initiatives are taking effect and contributing to the results. This encourages us on our path," said CFO Sandra Dembeck according to the press release. Zalando shares rose by around 7 percent in early trading on Tuesday.

ROUNDUP: Schaeffler earns more than expected - share price rises

HERZOGENAURACH - The automotive and industrial supplier Schaeffler has made significantly more profit than expected by experts in a difficult environment. Despite the difficult environment, the Herzogenaurach-based company kept profitability almost stable and the decline in earnings was noticeably less than feared. Thanks to special effects, CEO Klaus Rosenfeld was even able to report a significant jump in the bottom line. The SDax-listed share price rose significantly.

ROUNDUP: Siemens Healthineers increases profit - Imaging disappoints

ERLANGEN - The medical technology group Siemens Healthineers has improved its results in the second quarter. The restructuring program in the diagnostics business bore fruit, as the company announced on Tuesday in Erlangen. Siemens Healthineers also benefited from increasing earnings contributions from the cancer specialist Varian. However, the imaging business, which accounts for Lowen's share of earnings, performed worse than expected. The Siemens subsidiary confirmed its forecast for the year.

ROUNDUP: Major bank UBS surprises with billions in profit - share price jumps

ZURICH - The major Swiss bank UBS has surprisingly made a billion-euro profit in the first quarter. Around a year after the emergency takeover of former rival Credit Suisse, the bank earned 1.76 billion US dollars (just over 1.6 billion euros) - a good 70 percent more than a year earlier and significantly more than the market had expected. UBS is also making progress with the integration of Credit Suisse, as it announced in Zurich on Tuesday. On the stock market, the news was rewarded with a jump in the share price.

Steel manufacturer Salzgitter cuts forecast

SALZGITTER - The steel manufacturer Salzgitter is lowering its forecast for the current year due to the persistently weak economic environment. Customers are postponing their orders, the company announced in Salzgitter on Tuesday. The competitor of Thyssenkrupp expects earnings before interest, taxes, depreciation and amortization (EBITDA) of between 550 million and 625 million euros for 2024. Pre-tax earnings are likely to be between 100 and 175 million euros. This is significantly less than previously forecast. Previously, Salzgitter had forecast EBITDA of 700 to 750 million euros and a pre-tax profit of 250 to 300 million euros. The company is forecasting sales of around 10.5 billion euros, which is at the lower end of the previously announced range of 10.5 to 11 billion euros.

Write-down spoils Disney's progress in the streaming business - shares plummet

BURBANK - The entertainment group Disney slipped into the red in the past quarter due to billions in write-downs. The bottom line for the second quarter ending March 30 was a loss of 20 million US dollars (just under 19 million euros) after a profit of almost 1.3 billion a year earlier, Disney announced in Burbank on Tuesday. The write-downs of a good two billion dollars on the Indian investment Star India and the cable television business more than offset an improved performance in day-to-day business. Disney shares fell by more than five percent in pre-bubble US trading.

ROUNDUP: Fresenius shareholding FMC confirms forecast - share loses noticeably

BAD HOMBURG - The dialysis specialist Fresenius Medical Care (FMC) benefited in the first quarter from its corporate reorganization and the associated cost-cutting measures. The MDax-listed company announced in Bad Homburg on Tuesday that operating profit adjusted for special effects had risen by 23 percent to 416 million euros, excluding the effects of currency translation.

ROUNDUP: Jungheinrich profits hit by high labor costs - share price slips

HAMBURG - Higher personnel costs have eaten more into the profits of forklift truck manufacturer Jungheinrich in the first quarter than expected. Cost-cutting measures were unable to fully offset the increased costs from collective wage increases and the increase in personnel in 2023, as the company announced in Hamburg on Tuesday. The Board of Management is sticking to its targets for the year. However, the Jungheinrich preference share fell by almost seven percent at times in the morning.

ROUNDUP: Low steel prices continue to weigh on Klockner & Co - share under pressure

WIESBADEN - The steel trader Klockner & Co continues to feel the effects of the sluggish global economy. This is putting pressure on demand and therefore on steel prices. Sales and profits fell significantly. However, there were initial signs of improvement compared to the previous quarter. The share price came under pressure.

ROUNDUP: Teamviewer invests money in marketing and sales - share price falls

GÖPPINGEN - The software provider Teamviewer earned less than experts expected in the first quarter due to higher sales and marketing costs. Sales increased for the remote maintenance specialist, once again significantly in the important key account business, as the MDax company announced in Goppingen on Tuesday. Teamviewer was able to report a record number of smaller contract customers. However, new business remains sluggish due to the economic environment. Profitability, which also came under pressure due to currency effects, was also disappointing. The share fell significantly.

Unicredit increases profit surprisingly strongly at the start of the year - share price rises

MILAN - The persistently high interest rates have brought the major Italian bank Unicredit a surprisingly high profit at the start of the year. In the first quarter, the bank earned just under 2.6 billion euros, almost a quarter more than a year earlier, as it announced in Milan on Tuesday. Analysts had expected only a slight increase on average. For the current year, Unicredit CEO Andrea Orcel is now aiming for an adjusted net profit of more than 8.5 billion euros. Higher income from commissions and fees should compensate for a decline in net interest income.

^

Further news

-Protest against Tesla - Police expect large-scale deployment

-Ferrari grows thanks to more expensive cars and optional extras - share price falls

-BVB hanging game with Hummels: 'Look at body signals'

-ROUNDUP: Heidelberg Materials earns less in the first quarter

-Spending on pets on the rise - meat substitutes and AI as trends

-Norma Group struggles with economic environment - cost reductions take effect

-Glencore sells majority stake in Volcan Compania Minera

-ROUNDUP/New investigations at Boeing: 787 'Dreamliner' affected

-Telecom equipment supplier Adtran Networks struggles with sluggish demand

-ROUNDUP 2: Further concessions for Lufthansa entry at Ita

-BP earns less than expected - share buyback plan still stands

-ROUNDUP: Nasa cancels first manned test flight with 'Starliner' spacecraft

-Media: BVB signs 16-year-old talent from Ecuador

-Collapsed freighter disrupts shipping traffic in the Bosporus

-ROUNDUP 2: Global trade carrier slows down DHL - targets confirmed

-Volocopter boss criticizes politicians for lack of support

-Chip company Elmos continues to increase sales and profits

-ROUNDUP: Hensoldt again in the red despite armaments boom

-Mutares confirms annual forecast after first quarter

-Lufthansa brings in Amadeus manager as chief financial officer

-Banco Sabadell rebuffs BBVA

-Vorwerk sells fewer Thermomix appliances for the second year in a row

-ROUNDUP/Judgement: Deutsche Bahn must bear additional costs of Stuttgart 21 alone

-Galeria wants to remove Karstadt and Kaufhof from its name

-Airbus delivers 61 aircraft in April°

Customer tip:

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

/mis