MDAX (DB)

ROUNDUP 2: Financial investor Silver Lake wants to take over Software AG – price jump

DARMSTADT – US financial investor Silver Lake wants Software AG after investing a good year ago take over now. The Americans, who specialize in technology companies, are offering shareholders 30 euros per share, as they announced on Saturday night. Silver Lake, the company would be worth 2.2 billion euros. Ultimately, Silver Lake wants to take Software AG off the stock exchange. The Darmstadt shares soared on Monday.

Thyssenkrupp: Boss Martina Merz wants to resign – Norma boss Borrego candidate

FOOD – ThyssenKrupp CEO Martina Merz wants to retire prematurely from the steel group’s top post. The manager surprisingly asked the supervisory board to talk about terminating her contract on Monday in Essen. The personnel committee of the control body wants to comply with the request and hold talks with her. In addition, the personnel committee already has a successor in mind: the current interim boss of the car supplier Norma Group
, Miguel Angel Lopez Borrego, will be proposed to the Supervisory Board as the new CEO effective June 1. Merz has been CEO of Thyssenkrupp since October 2019. Her contract was extended to 2028 in May last year. Borrego also worked at Siemens before joining Norma
.

ROUNDUP: Medical technology group Philips is caught in day-to-day business – share strong

AMSTERDAM – The medical technology group Philips performed unexpectedly well in day-to-day business in the first quarter. Sales increased by 6 percent to 4.2 billion euros compared to the previous year, like the competitor from Siemens Healthineers
announced on Monday in Amsterdam. Analysts had expected growth of just over two percent. Earnings before interest, taxes and goodwill amortization (EBITA), adjusted for special effects, climbed by almost half to 359 million euros – here, too, experts had expected a much lower value. The stock went up sharply.

ROUNDUP 2: Salzgitter confirms forecast after a good start to the year

SALZGITTER – The steel manufacturer Salzgitter started the current year better than expected. Pre-tax profit fell from the extraordinarily high previous year’s figure of 465 million euros by a little more than 60 percent to 183 million euros, as in the SDax listed companies announced on Monday with the surprising presentation of key data for the first quarter. The analysts recorded by the Bloomberg news agency had previously forecast an average pre-tax profit of just over 100 million euros. The group only confirmed the forecast for the year, but analysts now rate it as cautious. The stock gave way at first, but then recovered.

Coca-Cola remains in demand despite price increases – share slightly up

ATLANTA – Although high inflation is weighing on consumers, business is going well at the US beverage giant Coca-Cola further round. In the first quarter, profits rose 12 percent year-on-year to $3.1 billion, Pepsi’s rival announced on Monday. Customers were not deterred by price increases. Group-wide revenues grew 5 percent to $11.0 billion. In terms of soft drinks, “Zero Sugar” cola remained in demand, with an eight percent increase in sales. The quarterly figures were better than experts had expected. The share initially reacted with slight price gains before the market.

Adidas wants to win back Chinese consumers with a new strategy

LONDON – The sporting goods manufacturer Adidas would like to tackle its problems in the Chinese market with a greater focus on local conditions. The Dax group
is planning more patriotic product lines for the People’s Republic, combining international design with traditional Chinese culture. By next year, Adidas wants to design at least 30 percent of the clothing sold in China locally, the country’s manager Adrian Siu told the “Financial Times” (“FT”, Monday edition). Before the crisis, the proportion was in the low single-digit percentage range.

Henkel boss is positive about the first quarter

DÜSSELDORF – The consumer goods group Henkel gives investors hope for the first quarter. Henkel CEO Carsten Knobel made a positive statement at the Annual General Meeting in Düsseldorf on Monday: “We got off to a good start in the new year.” However, further details will not be available until the quarterly figures are published on May 4th. Analysts are already expecting a decent start. Thomas Maul from DZ Bank expects organic sales growth of around 5 percent; and Rogerio Fujimori from the investment house Stifel recently wrote that the consumer goods and adhesives manufacturer is likely to have started 2023 stronger than he had previously expected.

ROUNDUP: Troubled Credit Suisse continues to lose massive amounts of deposits

ZURICH – Customers have at the failed major Swiss bank Credit Suisse funds and deposits were also withdrawn on a large scale in the first quarter of 2023. After losing billions in 2022, the financial institution is also expecting red numbers in the current quarter and for the year as a whole, as announced in Zurich on Monday. It should be the last quarterly result of the historic bank. Credit Suisse (CS) got into trouble after scandals, massive losses and the withdrawal of customer deposits. In view of nervous financial markets and fears of a global banking crisis, the Swiss government had a takeover by competitor UBS on March 19 threaded. They used emergency law to do this and alienated shareholders, who suffered huge losses. Many have announced lawsuits.

Additional Reports

-ROUNDUP 2: Warning strikes in Berlin and Hamburg lead to hundreds of flight cancellations

-Survey: Majority sees no danger to their own job from AI

-PwC study: Germany’s south is threatened by a hydrogen gap

-Reports: Fire at Disneyland in California

-Zeiss equips planetarium in South Korea

-Credit Suisse abandons plan to revive CS First Boston

-Monopoly commission for splitting up Deutsche Bahn

-Pharma importers warn of further delivery bottlenecks

– Wind turbine operators demand motorway exits for heavy goods vehicles

-ROUNDUP 2: Ukraine war drives global military spending to record high

-The Targobank makes more profit

-Medicines from cells – Boehringer Ingelheim expands its Biberach site

-Credit insurers: Signs of excessive food prices

-Pfandbrief banks expect real estate prices to continue to fall

-Novartis receives FDA clearance for Millburn manufacturing facility for Pluvicto

-Yara and VNG cooperate at the ammonia site in Rostock

-‘FT’: ZKB has held talks about Gam takeover

-ROUNDUP: North Sea summit to boost expansion of offshore wind energy

-Uber rival Lyft cuts more jobs°

Customer Note:

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

/mis

AXC0216 2023-04-24/15:20

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