Sixt Q2 Results Climb, Backs FY22 Revenue View; Sees EBIT At Top End Of View; Stock Dips

TUI Q3 Loss Narrows

TUI Group (TUIFF.PK) reported that its third-quarter net loss attributable to shareholders narrowed to 356.7 million euros or 0.22 euros per share from 934.8 million euros or 0.85 euros per share in the prior year.

Quarterly group revenue of 4.4 billion euros improved by 3.8 billion euros year-on-year, reflecting the more normalised travel environment versus prior year.

The company re-confirmed its expectations to return to significant positive underlying EBIT for financial year 2022 and remain committed to further reducing debt and German Government exposure.

The company said summer 2022 bookings were 90% of Summer 2019 levels, up 5% points from 85% at the first half announcement. Booking momentum remains encouraging, with levels in line with normalized Summer 2019 levels, as a result of a return to a more pre-pandemic environment of restriction-free travel.

Winter 2022/23 bookings are currently at a very early stage, with only the UK market currently booked as usual at this point of time. The UK have started positively with volumes up 16% compared to the same stage of Winter 2018/19 with the program about 27% sold.

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Ahold Delhaize Q2 Profit Climbs; Lifts FY22 Earnings View – Quick Facts

Food retailer Ahold Delhaize (ADRND.PK) on Wednesday reported that second-quarter net income grew 11.7 percent to 603 million euros from 540 million euros last year.

Income per share from continuing operations was 0.60 euro, up 15.2 percent from 0.52 euro a year ago.

Underlying income per share from continuing operations was 0.59 euro, compared to 0.53 euro a year ago.

Net sales climbed 15 percent to 21.45 billion euros from 18.65 billion euros last year. Group net sales increased 6.4 percent at constant exchange rates.

The company announced 2022 interim dividend of 0.46 euro, compared to 2021 level of 0.43 euro.

Ahold Delhaize further said it has decided to suspend its intention to sub-IPO in H2 2022 and will revisit when equity market conditions are more conducive.

Looking ahead for fiscal 2022, the company now expects mid-single-digit growth in underlying earnings per share compared to 2021 levels, while the initial estimate was a decline of low- to mid-single digits.

Ahold Delhaize’s 2022 Group underlying operating margin is expected to be at least 4.0 percent, in line with the company’s historical profile.

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Tidewater Prices Public Offering Of Shares At $17.85/shr

Tidewater Inc. (TDW) that owns and operates fleets of offshore vessels for supporting energy exploration, production, generation and offshore wind activities worldwide, on Wednesday announced the pricing of its registered underwritten public offering of 3.52 million shares at $17.85 per share.

The gross proceeds from the offering are expected to be approximately $62.83 million. In addition, the company has granted the underwriter a 30-day option to purchase up to an additional 0.53 million shares of its common stock at the public offering price, less the underwriting discounts.

The net proceeds are intended to repurchase from Banyan Overseas Limited, a number of warrants exercisable for shares of the company’s common stock (“Warrants”) equal to the number of shares of the Company’s common stock sold in the offering (including any shares sold pursuant to the underwriter’s option to purchase additional shares of the Company’s common stock).

The Warrants were issued to Banyan in connection with the company’s acquisition of all of the issued and outstanding shares of Swire Pacific Offshore Holdings Limited (now known as Tidewater Pacific Offshore Holdings Limited) from Banyan.

Morgan Stanley is acting as the sole underwriter for the offering. The offering is expected to close on August 12, 2022.

Shares of Tidewater Inc. closed Tuesday’s trading at $18.25, down $2.18 or 10.67 precent from the previous close.

ABN AMRO Bank Q2 Earnings Climb; Stock Up

Shares of ABN AMRO Holding NV (ABNYY.PK) were gaining around 3 percent in the morning trading in Amsterdam after the Dutch lender on Wednesday posted a rise in earnings for the second quarter, benefited by an increase in operating income.

For the second-quarter, the bank posted a pre-tax profit of 626 million euros, compared with 583 million euros a year ago.

Profit attributable to owners of the parent for the quarter was at 475 million euros as against 390 million euros in the previous year.

Operating result stood at 563 million euros, versus 504 million euros in 2021.

ABN AMRO generated operating income of 1.88 billion euros, up 9 percent from 1.73 billion euros in the previous year quarter.

Net interest income or NII fell to 1.27 billion euros, from 1.30 billion euros, reported a year ago. A decline in NII was mainly due to lower prepayment penalties on mortgages and higher hedging costs.

Net fee and commission income moved up 12 percent to 448 million euros from last year’s 399 million euros.

Looking ahead, the company expects its NII to bottom out in the second half, as deposit margins benefit from the improved interest rate environment, and to be around 5.2 billion euros for the full year.

The lender also said that an interim dividend for the first half has been set at 0.32 euro per share, which amounts to 287 million euros.

In Amsterdam, ABN Amro shares were trading at 10.57 euros, up 2.72 percent.

Sixt Q2 Results Climb, Backs FY22 Revenue View; Sees EBIT At Top End Of View; Stock Dips

Sixt SE, or Sixt car hire (SIXGF.PK), a German car rental company, on Wednesday reported higher second-quarter profit and revenues. Further, the company confirmed fiscal 2022 revenue view, and said it now expects consolidated EBT at the upper end of the forecast range. Shares of Sixt were losing around 7 percent in German trading.

For the second quarter, consolidated result was 93.8 million euros, up 49.7 percent from 62.7 million euros a year ago. Earnings per share were 1.99 euros, higher than 1.33 euros last year.

The second-quarter reported EBT was 129.8 million euros, an increase of 66.6 percent from last year’s 77.9 million euros.

Consolidated revenue increased 48.4 percent to 743.8 million euros from 501.2 million euros a year ago.

Further, the company confirmed fiscal 2022 forecast for consolidated revenue and expects consolidated EBT to be at the upper end of the range last announced of 380 million euros to 480 million euros.

In Germany, Sixt rent a car shares were trading at 116.90 euros, down 6.78 percent.

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