FRANKFURT (Reuters) – Deutsche Lufthansa posted a bigger-than-expected first-quarter operating loss as high fuel costs, strike measures, a harsh winter and the lagging performance at some of its units weighed on earnings.
Its operating loss widened to 330 million euros ($439.5 million) from 44 million a year earlier, the German flagship carrier said on Tuesday, publishing key first-quarter results a day ahead of schedule.
FRANKFURT (Reuters) – There is still cash to be reaped from beaten renewable energy stocks, as governments will continue to pump cash into the sector, even after large subsidy cuts, a fund manager at Deutsche Bank asset management arm DWS told Reuters.
“In our view, the renewable story remains intact, which is why 43 percent of our portfolio is invested in solar and wind. And we see further upside here,” Nicolas Huber, manager of the DWS Invest New Resources fund, said in an interview on Friday.
LOS ANGELES/FRANKFURT (Reuters) – Analysts are predicting solar companies will report strong first-quarter sales but say profit margins could suffer, keeping their share prices from benefiting.
Higher-than-expected sales estimates this month from China’s JA Solar and U.S.-based Evergreen Solar have boosted expectations for the sector, as demand for panels that turn sunlight into electricity rebounds sharply from 2009.
FRANKFURT (Reuters) – Centrotec, a supplier of energy-saving technology, is currently not planning to sell its 26 percent stake it has in module maker Centrosolar but could do so in the future, its top executive said. “At the moment, we are very satisfied with the business performance at (Centrosolar) and therefore, it is not in our interest at the moment to sell or reduce our stake,” Gert-Jan Huisman told Reuters in an interview on Friday.
“In the mid- to long-term, however, this cannot be ruled out,” he added.
FRANKFURT (Reuters) – German solar module maker Centrosolar has seen strong business so far this year, but surging demand ahead of solar subsidy changes in Germany has led to supply difficulties, its CEO told Reuters on Wednesday. “The first quarter went well for us. Despite the bad weather, we’ve practically been running at full capacity since mid-January. This is due to our large presence abroad, and there was no snow in southern Europe,” Alexander Kirsch said in an interview.
“The second quarter, too, got off to a good start. But customer demand is huge which means we partly have difficulties in supplying. Therefore, we continue to work on expanding our capacities,” he added.
FRANKFURT, March 29 (Reuters) – Brenntag AG <BNRGn.DE>, the
world’s biggest chemicals distributor, got a warm reception in
its market debut as Germany’s second-biggest flotation this
year, suggesting growing investor demand for selected new stock
Brenntag shares changed hands at 52.08 euros by 1229 GMT on
Monday, 4 percent above their 50 euros issue price and
outperforming the STOXX Europe 600 chemicals index <.SX4P> which
was 0.3 percent higher.
BONN, March 25 (Reuters) – SolarWorld AG <SWVG.DE>,
Germany’s No.1 solar company, joined peers in seeing strong
growth in its domestic market in 2010 but cautioned next year
would depend on the effect of solar subsidy cuts.
“We expect volumes in the German solar market to be about 5
gigawatts this year,” Chief Executive Frank Asbeck told
reporters on Thursday, signalling massive growth after an
expected 3 gigawatts for 2009.
FRANKFURT, March 24 (Reuters) – Q-Cells <QCEG.DE>, the
world’s fourth-biggest solar cell maker, expects sales to bounce
back this year after a 36 percent fall in 2009, as demand in
Germany gets a boost from end-users rushing to get solar power
subsidies before they are cut later this year.
But Chief Executive Nedim Cen warned on Wednesday at the
company’s annual news conference that demand in Germany, the
world’s biggest market for solar products, could collapse next
year as the subsidies fall further.
FRANKFURT (Reuters) – SolarWorld, Germany’s top solar company, will see its margins drop this year as its premium price strategy comes under attack, hurting one of the last intact investment cases in the sector.
Despite looming cuts in solar incentives in Germany — the world’s biggest market for the sector’s products — and an industry crisis caused by overcapacity and a price slump, SolarWorld is still one of the few profitable players with a good strategic position.
FRANKFURT, March 11 (Reuters) – Q-Cells Chief Executive
Anton Milner quit on Thursday, taking responsibility for a
record 2009 loss and paving the way for a quicker restructuring
at the struggling solar cell maker.
“The dramatically weak 2009 figures have led to a huge loss
of confidence, above all in the capital market,” Milner, one of
the four co-founders of Q-Cells <QCEG.DE> and a former McKinsey
management consultant, said on Thursday.