Solvay SA Q3 Net Profit Surges

Hannover Re 9-month Profit Up 1.7%; Says FY Earnings Guidance Still Achievable

German re-insurer Hannover Re (HVRRY.PK,HVRRF.PK) reported that its group net income for nine-month of fiscal year 2022 grew by a modest 1.7% to 871 million euros from last year’s 856 million euros, with earnings per share increasing to 7.22 euros from 7.10 euros in the prior year.

The operating profit (EBIT) on the Group level increased 3.7% to 1.328 billion euros from the previous year.

Net premium earned rose by 22% year-over-year to 21.6 billion euros, corresponding to growth of 14.6% adjusted for exchange rate effects.

Gross written premium for the Group increased by 21% to 26.3 billion euros from the previous year. At constant exchange rates growth would have come in at 13.5%.

Hannover Re considers its earnings guidance for the 2022 financial year to be still achievable after the extraordinary major loss expenditure incurred in the first nine months.

Hannover Re is still keeping to its targets for the current financial year and expects gross premium on the Group level to grow by more than 7.5% adjusted for exchange rate effects as well as a return on investment in excess of 2.5%. Following the extraordinary burden of large losses in the first nine months the Group net income is expected to be at the lower end of the 1.4 billion euros to 1.5 billion euros range.

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Hugo Boss Q3 Profit Rises On Strong Sales; Lifts FY22 Forecast – Quick Facts

German luxury fashion brand Hugo Boss AG (HUGSF.PK) reported Thursday that its third-quarter net income attributable to equity holders of the parent company grew 10 percent to 58 million euros from last year’s 53 million euros.

Earnings per share improved to 0.84 euro from 0.76 euro last year.

In the third quarter, HUGO BOSS increased its operating profit or EBIT by 8 percent to 92 million euros from last year’s 85 million euros.

Group sales increased 24 percent to 933 million euros from 755 million euros a year ago. Group sales grew 18 percent on a currency adjusted basis.

Compared to 2019 levels, currency-adjusted sales growth was 27 percent.

Looking ahead for fiscal 2022, HUGO BOSS raised its top and bottom-line outlook in light of the strong financial performance in the third quarter.

Group sales for fiscal year 2022 are now expected to increase between 25 percent and 30 percent to 3.5 billion euros to 3.6 billion euros, compared to previously expected increase between 20 percent and 25 percent to a level of 3.3 billion euros to 3.5 billion euros.

EBIT in 2022 is now expected to increase between 35 percent and 45 percent to a level of 310 million euros to 330 million euros, while prior outlook was an increase between 25 percent to 35 percent to an amount of 285 million euros to 310 million euros.

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Telefonica Deutschland 9-month Profit Down; Upgrades FY22 Outlook – Quick Facts

Telefonica Deutschland Holding AG (TELDF.OB,TFTHF.OB), a German telecommunication firm, reported Thursday that its nine-month total profit declined to 106 million euros from last year’s 143 million euros.

Operating income stood at 168 million euros, compared to 256 million euros in the prior year.

OIBDA, a key earnings metric, grew 4.8 percent from last year to 1.87 billion euros. OIBDA expanded 4.7 percent in the third quarter to 642 million euros.

Revenues increased 5.7 percent in the nine months to 6.03 billion euros. In the third quarter, revenues grew 6 percent from last year to 2.09 billion euros, driven by sustained mobile service revenue momentum and higher handset sales.

Further, the company upgraded fiscal 2022 outlook to ‘low mid-single digit percentage growth’ for revenues & OIBDA on continued strong commercial traction & financial performance.

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BT Group H1 Pre-tax Income Falls, But Revenue Rises

BT Group Plc (BT), a British telecommunications firm, on Thursday posted a decline in pre-tax earnings for the first-half, that reflected increased depreciation from network build and higher specific costs.

However, the company’s revenue moved up due to growth in Consumer and Openreach divisions.

For the first-half to September 30, the UK-based company posted a pre-tax income of 831 million pounds, compared with 1.009 billion pounds a year ago.

Post-tax earnings were at 893 million pounds or 9.1 pence per basic share, higher than last year’s 431 million pounds or 4.4 pence per share, posted for the same period of 2021.

Excluding items, basic earnings per share fell to 10 pence from 10.2 pence per share, posted for the first-half of 2021.

Adjusted EBITDA stood at 3.873 billion pounds as against 3.748 billion pounds a year ago.

Consumer division generated adjusted revenues of 4.992 billion pounds, versus 4.857 billion pounds of previous year.

Adjusted revenue from Openreach division was at 2.836 billion pounds, higher than 2.707 billion pounds, posted for the first-half of 2021.

The Group reported total revenue of 10.366 billion pounds, higher than 10.305 billion pounds, a year ago.

BT Group has declared an interim dividend of 2.31 pence per share, unchanged from last year’s 2.31 pence per share.

Solvay SA Q3 Net Profit Surges

Solvay SA (SVYSF.PK,SVYZY.PK), a Belgian chemical firm, on Thursday posted a surge in earnings for the third-quarter, helped by increased revenue driven by higher prices and sustained demand.

For the third-quarter, the company posted an underlying net profit of 509 million euros, higher than last year’s 273 million euros.

Underlying EBITDA was at 917 million euros as against 599 million euros of last year. This increase was mainly driven by higher pricing which overcame the significant inflationary costs in the quarter.

Net sales were 3.609 billion euros, versus 2.573 billion euros, posted for the third-quarter of 2021.