ROUNDUP 2: Siemens Energy expects several billion in losses from wind business

MUNICH - Power engineering group Siemens Energy is expecting an annual loss of several billion euros due to massive problems in its wind business. Costs for remedying quality defects in land turbines as well as significantly higher project costs and expenses for the ramp-up of marine (offshore) turbines are having a negative impact. As a result, Siemens Energy posted a loss of almost three billion euros in the third fiscal quarter. For the full fiscal year, the loss is expected to total €4.5 billion. The current strategy and restructuring plan of the wind subsidiary Siemens Gamesa is now to be reviewed and tightened up. Siemens Energy plans to present details at a capital market day on November 21.

ROUNDUP: Copper group Aurubis confirms annual targets - but shares fall

HAMBURG - Copper group Aurubis sees itself on track to meet its annual targets despite continued low sulfuric acid prices and weaker metal prices in some areas. Increased refining charges for the processing of copper concentrates and recycling material as well as lower energy costs are providing tailwind. In addition, there is a high insurance payment in connection with the flood disaster at the Stolberg site in July 2021. Aurubis shares fell by up to eight percent to 77.56 euros in early trading, making it the weakest stock in the MDax.

ROUNDUP: Real estate marketplace Scout24 raises annual targets after Sprengnetter acquisition

BERLIN - The online real estate marketplace Scout24 is raising its annual forecasts following the purchase of the Sprengnetter Group. Sales are now expected to grow by 15 percent this year instead of 12 percent, the MDax-listed company announced surprisingly on Sunday evening in Berlin. Operating earnings before interest, taxes, depreciation and amortization (adjusted Ebitda), adjusted for special items, are now expected to increase by 18 to 19 percent. Previously, management had held out the prospect of a 13 percent increase here.

'HB': Taiwanese chip company TSMC plans plant in Dresden

BERLIN - Taiwanese chipmaker TSMC is close to a decision to locate in Dresden, according to a media report. The decision is expected to be made at the company's board meeting this Tuesday, the "Handelsblatt" reported online Monday, citing government circles. All formalities have been clarified, it said. The Federal Ministry of Economics and Technology would not comment on the report when asked.

ROUNDUP 3: DHL Group fails with application for letter postage increase

BONN - Deutsche Post may not increase letter postage prematurely. An application to that effect was rejected, the Federal Network Agency announced in Bonn on Monday. The company had submitted the letter in May seeking permission to increase postage as early as 2024, a year earlier than planned.

Rheinmetall enters final round in race for multi-billion US tank contract

DÜSSELDORF - Defence contractor Rheinmetall has reached the final round in the race to develop a successor to the US Bradley infantry fighting vehicle. In the process, the company is competing only with U.S. defense contractor General Dynamics.

Daimler Trucks CFO Jochen Goetz dies at the age of 52

LEINFELDEN-ECHTERDINGEN - The chief financial officer of truck manufacturer Daimler Truck, Jochen Goetz, has died. The manager "died suddenly and unexpectedly at the age of 52," the Dax company announced Sunday evening in Leinfelden-Echterdingen. Goetz died in a tragic accident on Saturday. He leaves behind a wife and two children.

ROUNDUP: Adtran Networks significantly lowers revenue forecast - share loses slightly

MUNICH - Telecom equipment maker Adtran Networks (formerly Adva Optical) expects a weak second half after a solid second quarter and has therefore lowered its forecasts. "As delivery times for components have shortened considerably, many customers are currently focusing on optimizing their inventories, which is having an impact on incoming orders," the company, which is listed on the SDax small-cap index, said in Munich on Monday. "In addition, high inflation and rising interest rates are weighing on customers' investment behavior."

Space company OHB to go off the bourse after KKR takes stake in it

BREMEN - The Fuchs family of owners wants to take Bremen-based space company OHB off the stock exchange following an entry by financial investor KKR. Both parties have already signed an agreement to this effect, OHB announced in Bremen on Monday. According to the agreement, KKR intends to buy the approximately 30 percent freely tradable shares at a price of 44 euros each. The company is thus valued at around one billion euros including debt. OHB's share price recently rose by a third to 42.90 euros.

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Further news

-Indian space agency: space probe reaches lunar orbit

-Judge restricts competition charges against Google in the USA

-Study: Number of pub closures in the UK continues to rise

-Environmental aid group files suit against LNG terminal in Lubmin

-Multiple fires in Sardinia - Situation initially under control

-Extreme weather also in Scandinavia - heavy rain and flooding

-Biontech: New vaccine in September - Loss in second quarter

-ROUNDUP: Slovenia and Austria continue to struggle with floods

-Successful home debut: Dortmund celebrates new signing Nmecha

-ROUNDUP/Fukushima nuclear ruin: Discharge of cooling water into the sea draws closer

-Pediatricians' president: Emergency fee for parents in case of unnecessary cases

-Court: Tour operator does not have to point out passport requirement

-German Rail expects disruptions in the north due to storms

-Munich nuclear fusion researchers go to the USA

-Ministry: closure of Niger airspace is 'setback'°

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.

/stw