CategoryCorporate

Adidas bets on the third quarter

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The German sports clothing group Adidas is counting on a recovery of its financial performance in the third quarter. This will follow a major loss in the recent second reporting period of the year, when the company was hit hard by the closure of most of its shops due to lockdowns. Adidas then wrote deep red numbers. Below the line, there was an operational loss of EUR 333 million during the...

BMW posts quarterly operating loss

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The German automaker BMW has published a quarterly operational loss for the first time since 2009. The company was once again hit hard by the corona crisis that interferes with car sales worldwide. In Europe in particular, the demand for cars has been reduced due to temporarily closed factories and showrooms. BMW closed the second quarter with a 22.3 percent lower turnover of 19.9 billion euros...

Anglo American lost on diamonds, won on iron ore

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Mining giant Anglo American sold a lot less diamonds last quarter because demand collapsed due to the coronacrisis. This is also due to the fact that many jewelry stores worldwide were closed and a lot less travel was done. Anglo had to rely on profits from iron ore and copper in the last quarter. Anglo American’s annual turnover fell by 16 percent to 12.5 billion dollars. Below the line...

Puma reported net losses in Q2 2020, quarantine dealt a huge blow to the sportswear industry

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The coronacrisis hit Sports Mark Puma hard in the Q2 2020. The results of the company were very negatively influenced by shop closures in the United States and Europe in an attempt to limit the spread of the virus. Puma reported a loss of almost EUR 96 million in the reporting period. A year earlier, the sports brand made a profit of 49.7 million euros. Due to a bad start in April and May, the...

PSA Group sales and profits plummeted a third

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PSA Group, the parent company of, among others, Peugeot, Citroën, Opel and Vauxhall in the first half of the year reported a significantly less turnover and profit as a result of the corona crisis. The car industry has suffered massive forced closures of showrooms in recent years. In many countries, this temporarily put car sales on halt. Production was also seriously disrupted as factories were...

Novartis sales slightly declined Y/Y

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Novartis has seen drug sales in the second quarter weaken slightly due to the corona crisis. In particular, demand for the eye medicine Lucentis declined, and fewer patients started dermatological treatment or visited a doctor during the crisis. The decline in hoarding, which caused a strong increase in sales of medicines during the start of the lockdown, also depressed turnover. Second quarter...

Daimler to cut 20.000 jobs in two coming years

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The German car industry has been hit hard by the crisis. The virus outbreak even caused production to stop for a while. Mercedes-Benz therefore recorded a significant loss in the past quarter, it was announced on Thursday based on preliminary quarterly figures. That is why it is necessary to cut costs further anyway. Daimler, the parent company of Mercedes-Benz, is likely to cut up to 20,000 jobs...

No trucks wanted: Volvo quarterly results are weak

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Swedish truck and bus manufacturer Volvo Group has entered the red sea due to the crisis. The company noticed a decline in demand for trucks in its main sales markets. However, the result was slightly better than analytics forecasted. The company closed the second quarter of the year with a loss of SEK 282 million (EUR 27.3 million). That was a profit of SEK 11.1 billion a year earlier. Experts...

Heineken confident in the long term customer loyality

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Heineken is clearly suffering from the corona crisis, which is hitting beer sales hard. The company recorded a loss of 300 million euros in the first half of this year. In addition, the brewer made a write-off of 550 million euros, according to a provisional trade update. The brewer saw its turnover fall by 16.4 percent in the first half of this year. The company not only sold less beer, but also...

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