ROUNDUP/Weak demand: Siltronic expects sales to stagnate - shares weak

MUNICH - Weak demand from the semiconductor industry will continue to weigh on wafer manufacturer Siltronic in 2024. In addition, costs for the ramp-up of production at the new plant in Singapore will weigh on the operating profit margin. In the long term, however, the MDax company still has high hopes for the billion-euro investment. In order to reduce the debt, which has also increased as a result, and due to the gloomy environment, the dividend will fall significantly to 1.20 euros per share - compared to 3.00 euros in the previous year. The share price slipped significantly on Tuesday.

ROUNDUP: Coca-Cola exceeds expectations and is optimistic about the future

ATLANTA - Despite rising prices, consumers are continuing to buy the Coca-Cola brand. The US beverage giant clearly exceeded expectations in the past year. In the current year, Coca-Cola expects further organic growth, i.e. excluding currency effects and the effects of acquisitions and disposals of business units. Although organic growth is likely to be weaker than recently, the outlook also exceeded analysts' expectations. The shares rose by a good one percent ahead of schedule.

ROUNDUP: IT service provider Cancom just reaches sales target - shares lose ground

MUNICH - IT service provider Cancom has achieved its sales target at the lower end of the forecast range in a difficult environment. In terms of operating results, the Bechtle competitor only partially met its own targets. However, Group CEO Rüdiger Rath saw the key targets of the forecast achieved. The performance in 2023 laid the foundation for successful development in the new year in a difficult environment, he said according to the press release. The share price fell noticeably.

ROUNDUP: Electrolysis specialist Thyssenkrupp Nucera grows strongly

DORTMUND - The electrolysis specialist Thyssenkrupp Nucera has once again grown strongly at the start of the financial year. The company continued to benefit from the ramp-up of its hydrogen business and the implementation of a related major order in Saudi Arabia. The subsidiary of the industrial group Thyssenkrupp was also able to book further orders. Hydrogen projects are leading the way. The costs are weighing on the results. However, these were better than expected.

ROUNDUP: Michelin optimistic for 2024 - share buyback boosts share price

CLERMONT-FERRAND - The tire manufacturer Michelin wants to offset higher wages this year with lower costs for energy and transport. In its home country of France, the Continental competitor will raise salaries by five percent. The effects of the crisis in the Red Sea have so far been limited, said CFO Yves Chapot in an interview with the Bloomberg news agency on Monday. "This has nothing to do with the disruptions we experienced at the end of 2021 and beginning of 2022." The manager left further mergers and acquisitions open. The share price also rose on Tuesday thanks to the announcement of share buybacks.

ROUNDUP: Strong summer bookings make Tui optimistic - share price rises

HANNOVER - The world's largest travel group Tui is on course for pre-corona pandemic business thanks to strong vacation demand. Travel bookings for winter and summer are eight percent higher than a year ago, Tui announced ahead of the Annual General Meeting in Hanover on Tuesday. For the current financial year 2023/24, CEO Sebastian Ebel continues to expect record profits in day-to-day business. However, CFO Mathias Kiep did not want to commit himself as to whether more guests are really traveling with Tui this time than before the Corona crisis.

ROUNDUP: Norma Group with slightly lower sales and operating profit

MAINTAL - The fastening technology specialist Norma Group felt the effects of the weeks-long strikes at US vehicle manufacturers in the final quarter of 2023. According to preliminary figures, sales shrank by 1.6 percent to 1.22 billion euros for the year as a whole, as the SDax-listed company announced in Maintal on Tuesday. However, the strong euro over the year also contributed to the decline, with revenue increasing by 0.7 percent on its own. The share price rose by six percent in early trading.

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Customer tip:

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

/jha