FRANKFURT, Aug 27 (Reuters) – The alarming scale of China’s
economic slowdown is pushing European exporters to accelerate a
move into premium goods and services, sacrificing volumes if
necessary to sustain margins.
As Chinese rivals gain expertise in areas from elevators to
healthcare to sweeteners while unexpectedly weak demand exposes
yet more unneeded supply, prices are falling even in areas
foreign suppliers thought were insulated from local competition.
FRANKFURT/MUNICH, Aug 27 (Reuters) – European broadcaster
RTL regained market share in its core German TV
business in the first half of 2015 and lifted its full-year
sales forecast on strong growth in online businesses, which it
said it would expand with further acquisitions.
RTL, controlled by German media conglomerate Bertelsmann
, has TV and radio channels in eight European countries
and southeast Asia, with shows including The X Factor, Idols and
Farmer Wants A Wife.
FRANKFURT (Reuters) – Germany’s United Internet is on the look-out for acquisitions to expand its fiber-optic network and the business applications unit that it may list separately on the stock exchange, its chief executive told Reuters on Thursday.
United Internet, Germany’s biggest DSL copper wire broadband provider after Deutsche Telekom, has spent more than a billion euros ($1.11 billion) in a year on acquisitions including a national fiber-optic network and Poland’s top web-hosting firm.
FRANKFURT, Aug 13 (Reuters) – German industrial group
ThyssenKrupp reported a jump of more than a third in
its quarterly operating profit, driven by its elevators and
European steel units and beating forecasts.
The result bore out the Essen-based company’s continuing
turnaround story from steelmaker to diversified industrial goods
group, and was helped by streamlining and cost-cutting that saw
Steel Europe produce its best result in almost four years.
FRANKFURT/BERLIN, Aug 12 (Reuters) – Germany’s United
Internet raised its forecast for 2015 customer growth,
saying it now expected more mobile Internet subscribers after
investing heavily in customer acquisition.
The Internet service provider said on Wednesday it expected
fee-based customer contracts to grow by 880,000 instead of
800,000, after a 430,000 increase to 15.2 million in the first
half. It stuck to its sales and earnings forecasts.
FRANKFURT, Aug 12 (Reuters) – The new chief executive of
Germany’s Bilfinger said he would do whatever it took
to turn the company around as problems escalated at its main
division servicing oil and gas clients and charges for a
business it is selling pushed it to a record net loss.
The engineering and services group predicted a drop of as
much as 43 percent in its full-year core earnings after an
unexpectedly sharp drop in oil prices hit its Industrial
business, compounding problems at the up-for-sale Power
FRANKFURT (Reuters) – European exporters glimpsed the possible progressive erosion of lucrative benefits from the weak euro on Tuesday, as China’s surprise devaluation made foreign goods more expensive for its consumers and corporate customers.
Shares fell in makers of cars, luxury goods and consumer products, wiping 140 billion euros ($155 billion) off the value of the FTSEurofirst 300 index, as the specter loomed of a new round of currency wars.
FRANKFURT, July 30 (Reuters) – German trains-to-turbines
group Siemens beat expectations for its third-quarter
results and stuck to its full-year outlook on Thursday despite
weakness in China.
The Munich-based group reported solid results in six of its
eight divisions, with industrial software and healthcare in
particular lifting profits to counter declines in gas turbines
and transportation for the quarter to end-June.
FRANKFURT, July 29 (Reuters) – Germany’s HeidelbergCement
has re-emerged as a global M&A player with the 6.7
billion-euro ($7.4 billion) takeover of Italcementi,
after spending the best part of a decade repairing the damage
from its last major acquisition.
The company has been painstakingly rebuilding its finances
since the global financial crisis pushed it to the brink of
bankruptcy after its debt-fuelled, 7.85 billion pound ($12
billion) acquisition of Britain’s Hanson in 2007.
FRANKFURT/MILAN, July 28 (Reuters) – HeidelbergCement
agreed to buy control of Italcementi in a
deal that values its smaller Italian rival at 6.7 billion euros
($7.4 billion), less than three weeks after Holcim and Lafarge
completed their $44 billion cement mega-merger.
The German cement maker, which said as recently as last
month it would be disciplined about acquisitions and focus on
returning cash to shareholders, said the chance to buy at the
bottom of the cycle in recovering southern Europe was too good
to pass up.