ROUNDUP: Robust order situation at Siemens Energy - wind power remains a problem

MUNICH - Wind turbine manufacturer Siemens Gamesa remains a loss-maker for Siemens Energy. The power engineering group again lowered its earnings forecast for the current fiscal year 2022/23 (as of the end of September) and expects higher losses. By contrast, the sales and order situation brightened considerably. In addition, the other businesses of the power engineering group are developing robustly, so that Siemens Energy expects higher growth in the Group than initially announced. Siemens Energy therefore performed better than expected in the second quarter.

ROUNDUP: Ceconomy posts higher sales - sale in Sweden impacts earnings

DÜSSELDORF - Electronics retailer Ceconomy is reaping the first fruits of its corporate restructuring. Operating figures improved in the second quarter. More customers visited the stores of Media Markt and Saturn. The fast-growing service business with equipment repairs, cell phone contracts, insurance and equipment rentals also continued to develop positively. Ceconomy gained market share in the German-speaking region. On the bottom line, however, Ceconomy widened its loss - here the sale of the Swedish stores had a negative impact. The share, which is listed in the small cap segment SDax, fell by almost six percent in the morning.

ROUNDUP: Insurer Talanx increases profit significantly - fewer major claims

HANNOVER - The insurance group Talanx has significantly increased its profit in the first quarter thanks to fewer major losses. At 423 million euros, net income was almost a third higher than a year earlier, as the group with the main brand HDI announced in Hannover on Monday. The increase was also due to compounding and discounting effects resulting from the new accounting rules that have applied to major insurers since the turn of the year. CEO Torsten Leue thus sees the Group on course to achieve a profit of around 1.4 billion euros in the current year as planned.

ROUNDUP 2: IT service provider Nagarro lowers revenue forecast - shares under pressure

MUNICH - The IT service provider Nagarro expects a lower increase in sales in the current year than previously. The company, which is listed on the SDax, announced on Friday evening after the close of the stock exchange in Munich that its earnings are only expected to increase to 940 million euros. Nagarro had previously set out to crack the billion euro mark this year after sales of 856 million euros in 2022. The share came under considerable pressure. The figures for the first quarter on Monday morning gave the paper no support.

ROUNDUP: Deutsche Pfandbriefbank's business slumps - share price plummets

GARCHING - Deutsche Pfandbriefbank suffered a slump in profits in the first quarter. New business and net interest income fell significantly, as the commercial real estate financier announced on Monday in Garching near Munich. The sharp decline in demand for credit is making life difficult for the institute. CEO Andreas Arndt estimates that the difficult market situation will continue for another two to three years. He expects the situation to stabilize by the end of 2023. The news went down badly on the stock market.

ROUNDUP: Evotec confirms annual targets after cyber attack - share price rises strongly

HAMBURG - The pharmaceutical drug researcher Evotec is sticking to its annual targets for the time being despite a cyber attack. However, effects of the attack on the forecasts could not be ruled out, the Hamburg-based company announced on Saturday night. Operating profit is expected to continue to grow significantly, after high costs had burdened 2022. At the start of the new year, it was only said that this had been strong. Details should be available with the half-year figures at the beginning of August. Evotec recently had to leave the MDax due to the delayed publication of the audited annual report for 2022 as a result of the cyber attack, but is now expected to return to the mid-cap index in the near future. Evotec expects this to happen on June 19 in the course of a so-called fast entry. The news was well received by the stock market.

ROUNDUP: Latest acquisition drives Dermapharm - share price rises strongly

GREENWALD - Drug manufacturer Dermapharm has started the new year with significantly higher sales and profits. "The main growth impulses in the opening quarter resulted from the acquisition of the Arkopharma Group, strong organic growth in our existing portfolio and a resumption of growth in the parallel import segment," company CEO Hans-Georg Feldmeier said in a statement Monday.

ROUNDUP: Several utilities to exploit gas price brake for too high prices

BONN/BERLIN - Several gas suppliers are suspected of setting unjustifiably high end-customer prices in connection with the gas price brakes. The Federal Cartel Office reported on Monday that a double-digit number of suppliers "may have filed excessive refund applications under the price brake laws."

ROUNDUP 2: Varta slips into the red in first quarter - share recovers somewhat

ELLWANGEN - Struggling battery maker Varta is in the red in the first quarter due to subdued customer demand. "2023 is a year of change for Varta AG," board spokesman Markus Hackstein said Monday, according to a statement. He added that subdued customer demand in the majority of segments required a very strict cost-cutting course. The management is currently implementing measures of its savings program, he added. Unfortunately, this also means painful cuts in personnel. Customer business is generally focused on the second half of the year, and only the home storage business is running at a consistently high level throughout the year. The share was nevertheless able to stabilize.

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Further news

-ROUNDUP: Jost Werke confirms forecast after strong quarter - share rises

-ROUNDUP: High generation capacities drive wind farm operator Encavis

-Economic slump causes profit to slump at port logistics company HHLA

-Rheinmetall receives half a billion euros for tank order

-Insurer Axa confident of significantly higher profits in 2023

-German-Danish border open again after protests against truck tolls

-Change of management at tobacco group British American Tobacco

-Media regulators examine Berlusconi Group's stake in ProSiebenSat.1

-Rheinmetall establishes joint venture with Ukrainian group

-Tesla must update software of 1.1 million cars in China

-VW parent company Porsche SE confirms annual targets

-Germany: Real estate prices in cities slump by up to 20 percent

-ROUNDUP: Movement in wage dispute - rail union wants rapid talks

-EU Commissioner criticizes Czech tax plans for newspapers

-SPD sticks to January start date for heating bill

-Rail strike in England partially paralyzes train traffic

-Planned giant alpine solar plant in Switzerland to be much smaller

-WHO advises against sugar-free sweeteners for weight control

-Pharmacies to remain closed for protest day on June 14°.

Customer Notice:

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

/jha