CategoryCorporate

DHL posted a quarter loss despite rise in online shopping

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Deutsche Post DHL delivered more packages in the first quarter due to the corona pandemic, but suffered in other divisions from the worldwide virus outbreak. For example, due to restrictions on many national borders and lockdowns, the German logistics giant transported much less freight. As a result, the profit of the company was considerably lower. In the first three months of the year, sales...

Asahi Group reports beer sales decline

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Japanese brewer Asahi Group, owner of Grolsch and others, is selling less beer as a result of the corona crisis. Closing down catering establishments worldwide to stem the spread of the new corona virus is an obstacle to the company’s turnover. Asahi cut his expectations for this year and looks set to change his dividend policy. In doing so, the brewer follows the example of many industry...

Munich Re profit plummeted 65 percent

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The German reinsurer Munich Re recorded a much lower profit in the first quarter than a year earlier. The financial group suffered large insurance losses from the new Cooronavirus, mainly due to the cancellation of many major events. In total, Munich Re invested some 800 million euros in insurance in the first quarter through the corona virus. The investment branch of the insurer managed to boost...

BMW expects profits to be “significantly lower”

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German automaker BMW has revised its forecasts for the current fiscal year downwards. The corporation is hit hard by the corona crisis that is hampering car sales worldwide. Demand for cars has declined, especially in China. BMW also closed the first quarter of the year with a 3.5 percent higher turnover of 23.3 billion euros. Gross profit also increased by almost 5 percent to 798 million euros...

Infinion is pessimistic on annual performance

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Chipmaker Infineon is significantly gloomier over the rest of its broken fiscal year. The car industry is an important market for the German group, which is severely affected by the corona crisis. For the full fiscal year, Infineon now expects a 5 percent drop in sales if the recent acquisition of Cypress is not included. Initially, the company aimed at an increase in revenue of 5 percent. The...

Total oil company performance slows down in Q1

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French oil and gas company Total has seen its earnings plummet in the first quarter. Like its peers, the company is suffering from a drop in demand due to the corona crisis and declining oil prices due to oversupply. Nevertheless, Total maintains its dividend. Total had first-quarter revenues of $ 43.9 billion from $ 51.2 billion a year earlier. Under the line, partly due to substantial...

Sabic suffered from low demand

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The Saudi petrochemical group Sabic suffered from a low demand for chemicals last quarter. The group warned in January that demand will be weak all year. Since then, the situation only got worse because of lockdowns to bring the coronavirus under control. As a result, Sabic recorded a loss. The Saudi group, which has its European headquarters in the Netherlands, sells many chemicals that follow...

Substantial losses at stock exchanges

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The stock exchanges in New York went trading on Friday with substantial losses. Disappointment with quarterly reports from Amazon and Apple weighed heavily on sentiment. Furthermore, fears of trade tensions between the United States and China have re-emerged following allegations by Donald Trump. The Dow-Jones index ended 2.6 percent lower at 23,723.69 points. The broad-based S&P 500 dropped...

Ursula Burns leaves VEON company

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Chairman Ursula Burns of telecom company VEON leaves the company. She held that position for three years, but is no longer available for re-election. Three other directors also do not want to be re-elected. It is not yet clear who will be the successor of former top woman Burns. There are five new candidates who are nominated by VEON for a position on the board. The shareholders of VEON may vote...

Orange Q1 results show 2 percent growth

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French telecom provider Orange saw revenue grow in the first quarter. However, the sale of telecom equipment and mobile phones suffered from the corona crisis, as many stores in European countries were closed in March due to lockdowns. Roaming revenues also declined. This was offset by growth in fiber optic subscriptions. In concrete terms, turnover in the period January to March grew by slightly...

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