EBIT

Electrolux Group steps-up cost reductions and organizational simplifications

Retrieved on: 
Friday, October 27, 2023
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The ongoing substantial cost reduction progress, while ahead of plan, is not sufficient to restore margins given the price pressure from input cost discrepancies.

Key Points: 
  • The ongoing substantial cost reduction progress, while ahead of plan, is not sufficient to restore margins given the price pressure from input cost discrepancies.
  • "We are therefore accelerating structural cost reductions and execution of product cost measures.
  • The new target comprises net cost reductions from Cost efficiency and Investments in innovation and marketing, combined.
  • This disclosure contains information that Electrolux Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014).

Eastman Announces Third-Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 26, 2023
Packaging, Chemicals, Plastics, Other Manufacturing, Manufacturing, Chairperson, Eastman, Costa, GAAP, EBIT, Additive, Environment, EPS, Advanced Materials, Borrowing base, Plastic, Agriculture, Table, Renewable energy, Gasoline, Retail, Fiber

“Our third-quarter results reflect decisive steps we took to aggressively reduce inventories and prioritize strong cash generation,” said Mark Costa, Board Chair and CEO.

Key Points: 
  • “Our third-quarter results reflect decisive steps we took to aggressively reduce inventories and prioritize strong cash generation,” said Mark Costa, Board Chair and CEO.
  • In third quarter 2023, cash provided by operating activities was $514 million compared to $256 million in third quarter 2022.
  • Taking this together, we expect 2023 EPS to be between $6.30 and $6.50, and for 2023 operating cash flow to approach $1.4 billion.”
    The full-year 2023 projected adjusted diluted EPS excludes any non-core, unusual, or nonrecurring items.
  • Our financial results forecasts do not include non-core items (such as mark-to-market pension and other postretirement benefit gain or loss, and asset impairments and restructuring charges) or any unusual or non-recurring items because we are unable to predict with reasonable certainty the financial impact of such items.

Renewi plc: Response to Rule 2.8 termination announcement from Macquarie Asset Management

Retrieved on: 
Friday, October 27, 2023
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As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.

Key Points: 
  • As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.
  • The Board carefully assessed this Revised Proposal with its advisers and also considered the recent feedback it had received from Renewi shareholders.
  • The Board rejected this Revised Proposal on the basis that it continued to fundamentally undervalue Renewi and its prospects.
  • However, the price level of the Revised Proposal did not provide a basis to provide Macquarie with access to due diligence.

Novozymes accelerates growth in Q3 and is on track to deliver on full-year expectations

Retrieved on: 
Thursday, October 26, 2023
Growth, CHR, European Commission, United Nations, Health, United Nations General Assembly, EBIT, Geography, Civil service commission, Novozymes, COVID-19, Acceleration, Drink, Fine chemical, Renewable energy, Agriculture, Food, Bioenergy, Q3, EU

“The results we are presenting today are another proof-point to the strength of our well-diversified portfolio and broad market exposure.

Key Points: 
  • “The results we are presenting today are another proof-point to the strength of our well-diversified portfolio and broad market exposure.
  • Sales growth in the nine months of 2023 was within expectations, benefitting from a well-diversified portfolio and broad market exposure.
  • In Food, Beverages & Human Health, sales growth improved in Q3 as expected, with destocking gradually levelling off as well as improvements in Human Health.
  • Bioenergy was the main driver of growth in developed markets, while Agriculture, Animal Health & Nutrition delivered solid growth.

Demand for Sustainable Raw Materials Could Exceed Supply by as Much as 133 Million Tons by 2030

Retrieved on: 
Thursday, October 26, 2023
Knowledge, Fashion, Policy, Tax, Pressure, Carbon, Tier 4, EBIT, Nature, Risk, Farmer, Boston Consulting Group, BCG, Clothing, Renewable energy, Marketing, Qantas

LONDON, Oct. 25, 2023 /PRNewswire/ -- The fashion and apparel industry is under pressure. More than 85% of leading brands (by sales) have publicly declared decarbonization targets for their supply chains. In addition, more than 35 new pieces of sustainability-linked legislation are forecasted to go into effect around the world in the next two to four years, targeting import restrictions, product design guidelines, labeling requirements, and more.

Key Points: 
  • Given that raw materials can constitute as much as two-thirds of a fashion and apparel brand's climate impact, securing access to sustainable materials is essential.
  • However, demand for low-climate-impact ("preferred") raw materials could exceed supply by as much as 133 million tons by 2030.
  • Titled Sustainable Raw Materials Will Drive Profitability for Fashion and Apparel Brands , the report says that brands must act today to significantly increase the share of preferred raw materials in their portfolio.
  • "Success on both counts relies on a robust strategy for preferred raw materials—one that helps brands lock in a supply of sustainable materials for the future.

EQS-News: PUMA SE: PUMA well on track to achieve full-year outlook after Q3

Retrieved on: 
Thursday, October 26, 2023
WNBA, Direct, World Athletics, OPEX, Texas League Most Valuable Player Award, Rihanna, Inventory, PUMA, Cobra Golf, Football, Publication, Golf, FIBA Basketball World Cup, LaMelo Ball, Most valuable customers, World Athletics Championships, EBIT, Athlete, News, EEMEA, Environment, Growth, Marketing, Risk, Culture, DTC, Investment, Performance, WNBA Most Improved Player Award, Most valuable player, Wholesaling, Security (finance), Cryptocurrency, Video game, Retail, Renewable energy, Sport, Sports equipment, Risk management, Avanti, Clothing, Basketball, Running

The PUMA Group continues to benefit from its geographic diversification of the business.

Key Points: 
  • The PUMA Group continues to benefit from its geographic diversification of the business.
  • Consequently, net income decreased by 10.0% to € 131.7 million (Q3 2022: € 146.4 million) and earnings per share amounted to € 0.88 (Q3 2022: € 0.98).
  • Sustained demand for PUMA products, supported by operational agility, led to a further normalization of PUMA inventory levels, in line with expectations.
  • PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf and Motorsports.

EQS-News: Villeroy & Boch AG: Villeroy & Boch generate consolidated revenue of € 650.6 million and EBIT of € 56.8 million in the first nine months

Retrieved on: 
Thursday, October 26, 2023
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EBIT of € 56.8 million, 11.7 % lower than in previous year (€ 64.3 million)

Key Points: 
  • EBIT of € 56.8 million, 11.7 % lower than in previous year (€ 64.3 million)
    The Villeroy & Boch Group’s consolidated revenue (including licence income) adjusted for currency effects, i.e.
  • Revenue in the region of EMEA (Europe, Middle East, Africa) declined by 13.0 % or € 76.4 million.
  • This is due in particular to the weak performance in Central Europe, where revenue fell by 13.5 % or € 32.9 million.
  • EBIT in the first nine months of 2023 came to € 56.8 million, down 11.7 % on the same period of the previous year (€ 64.3 million).

EQS-News: ElringKlinger records solid third quarter 2023 based on preliminary results

Retrieved on: 
Thursday, October 26, 2023
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Group revenue for third quarter of 2023 up slightly by 0.7% in organic terms; excluding currency adjustments, revenue amounted to EUR 451.6 million (Q3 2022: EUR 464.1 million)

Key Points: 
  • Group revenue for third quarter of 2023 up slightly by 0.7% in organic terms; excluding currency adjustments, revenue amounted to EUR 451.6 million (Q3 2022: EUR 464.1 million)
    Year-on-year improvement in adjusted EBIT at EUR 22.7 million and adjusted EBIT margin at 5.0% for third quarter 2023 (Q3 2022: EUR 18.5 million and 4.0%)
    Full-year earnings outlook for 2023 confirmed, revenue guidance for 2023 revised on the basis of new internal revenue forecast due to higher S&P market projections
    Dettingen/Erms (Germany), October 25, 2023 +++ ElringKlinger AG has announced its preliminary results for the third quarter of 2023.
  • Adjusted for exchange rate effects, revenue was up slightly by 0.7% or EUR 3.2 million for the period from July to September 2023.
  • Revenue generated in the first nine months totaled EUR 1,408.1 million (9M 2022: EUR 1,329.3 million).
  • The Group will publish its full financial results for the third quarter of 2023 on November 7, 2023.

EQS-News: FORTEC Elektronik Aktiengesellschaft publishes financial report for financial year 2022/2023, with record results once again

Retrieved on: 
Thursday, October 26, 2023
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FORTEC Elektronik Aktiengesellschaft publishes financial report for financial year 2022/2023, with record results once again

Key Points: 
  • FORTEC Elektronik Aktiengesellschaft publishes financial report for financial year 2022/2023, with record results once again
    The issuer is solely responsible for the content of this announcement.
  • The consolidated net income for the year was EUR 7.6 million (previous year: EUR 6.3 million).
  • Sandra Maile, CEO of FORTEC Elektronik AG, comments: “The results of the 2022/2023 financial year are extremely pleasing and demonstrate the successful implementation of our strategy.
  • The link to register for this is available at Montega CONNECT: FORTEC Elektronik AG - Earnings Call Financial Report 2022/2023 .

EQS-News: SNP Confirms Sustained Growth in the Third Quarter of 2023 with Strong Software Business

Retrieved on: 
Thursday, October 26, 2023
History, CFO, Environment, Interim, Software, SAP, SNP, EBIT, Data management, Video game, Cryptocurrency

In the third quarter of the 2023 fiscal year, the company increased its order entry volume by around 50% to € 60.2 million (Q3 2022: € 40.1 million).

Key Points: 
  • In the third quarter of the 2023 fiscal year, the company increased its order entry volume by around 50% to € 60.2 million (Q3 2022: € 40.1 million).
  • In the same period, revenue rose by around 30% to € 54.1 million (Q3 2022: € 41.6 million).
  • Operating earnings (EBIT) improved significantly to € 4.8 million (Q3 2022: € 0.1 million).
  • We are humbled by the market response to our software platform CrystalBridge, leading to the best-ever Q3 in our history.