Siemens Energy Closes Chapter on Germany's €7.5 Billion Rescue
The company moved to a new €9 billion bank facility earlier than planned that will help fund large projects, it said Thursday, clearing the path for the gas and wind turbine maker to resume shareholder payouts.
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23 minutes ago
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KION GROUP AG (KIGRY) Q2 2025 Earnings Call Highlights: Record Order Intake Amid Revenue Decline
Order Intake: EUR3.5 billion, a 33% increase year-on-year. Revenue: Declined 6% year-over-year to slightly over EUR2 billion. Adjusted EBIT: EUR189 million with a margin of 7%. Free Cash Flow: Positive at EUR132 million. Earnings Per Share: EUR0.72, a 38% increase year-on-year. ITS Segment Order Intake: 70,000 units, a 9% year-over-year increase. New Truck Business Revenue: Declined 13% year-over-year. Service Business Growth: 3% year-on-year increase. SCS Segment Order Intake: Record level of more than EUR1.4 billion. SCS Adjusted EBIT: EUR42 million with a margin of 6%. Net Financial Debt: Slight increase, remaining below EUR1 billion. Tax Rate: Updated full year 2025 tax indication to between 25% and 30%. Warning! GuruFocus has detected 11 Warning Signs with KIGRY. Release Date: July 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points KION GROUP AG (KIGRY) reported a 33% increase in group order intake, reaching EUR3.5 billion, marking a record quarter for order intake and supply chain solutions. Earnings per share increased by 38% year-on-year to EUR0.72. Free cash flow remained positive at EUR132 million, driven by improvements in net working capital. The Supply Chain Solutions (SCS) segment achieved a record order intake of over EUR1.4 billion, with significant contributions from business solutions. The company confirmed its outlook for fiscal year 2025, indicating confidence in its strategic direction and market positioning. Negative Points Revenue declined by 6% year-over-year to slightly over EUR2 billion, with a 13% decline in the new truck business. Adjusted EBIT margin was impacted by lower volumes and reduced fixed cost absorption, particularly in the Industrial Trucks & Services (ITS) segment. The geopolitical uncertainties and ongoing trade conflicts pose risks to the company's supply chains and market conditions. Standard and Poor's downgraded KION GROUP AG (KIGRY) to BB+ with a stable outlook, potentially affecting financing costs. The economic environment remains uncertain, with potential disruptions from trade barriers and restrictions on access to critical commodities. Q & A Highlights Q: Can you provide insights on the order pipeline after a strong Q2, and what are the prospects for second-half orders? A: Richard Smith, CEO: Orders often shift between quarters in Supply Chain Solutions (SCS), so it's important to look at trends over several quarters. Q2 was strong due to multiple large orders, but we don't expect this level in upcoming quarters. However, we anticipate the second half of the year to be better than last year. Our pipeline remains strong, with good visibility into projects. Q: How is pricing in the SCS segment, and does it align with your 10% margin objective for 2027? A: Richard Smith, CEO: Pricing is consistent with our 10% margin profitability plans. We've built protections into our contracts, including tariff fluctuations, to ensure we meet our margin objectives. Q: Can you explain the slight miss in sales this quarter relative to expectations, and what was the momentum in June and July? A: Christian Harm, CFO: The difference was mainly due to corporate services consolidation, not market development. The momentum in June and July was consistent with our expectations, and we don't see any significant changes in market dynamics. Q: Do you expect the book-to-bill ratio for SCS to be above 1 in the next quarters, and how confident are you in reaching a 10% margin for SCS? A: Christian Harm, CFO: We might not consistently see a book-to-bill ratio above 1 due to order lumpiness. To reach a 10% margin, we need to improve project execution, eliminate legacy projects, grow the service business, and leverage operating efficiencies. Q: How are discussions with non-e-commerce customers, and do you expect e-commerce activity to remain high in the coming quarters? A: Richard Smith, CEO: It wasn't just one large project in Q2; we had multiple sizable projects. E-commerce continues to be a leading indicator, and we expect other verticals to start projects as well. E-commerce will remain a significant part of our order intake. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
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200 Mitie workers set to begin strike action at Sellafield over pay
AROUND 200 workers in 'frontline' roles on the Sellafield site are set to begin strike action on Friday following a disagreement with their employer Mitie over pay. GMB union members working for Mitie overwhelmingly rejected the 3.5 per cent deal offered by the company- voting to strike in anger at what the union have called a 'derisory' pay offer. The around 200 frontline workers are responsible for cleaning, security, landscaping, waste management, postal services, and laundry support the safety and functionality of one of Europe's most hazardous nuclear facilities, say the union. The union have said that the pay offer would leave many workers earning little more than £13 an hour. Fran Robson, GMB Regional Organiser, added: "Without these workers, Sellafield cannot operate safely or securely. "If Mitie refuses to return to the negotiation table with a meaningful offer, strike action will go ahead, risking significant disruption to this critical nuclear site. "We call on Mitie to provide a pay rise that genuinely recognises the essential contribution of these workers." Mitie have said that they are 'committed' to reaching a resolution and are carrying out 'continuous talks' with both Sellafield and the GMB union. However, the company say they are also putting 'strong contingencies' in place to avoid any disruptions that the strike may cause at the Sellafield site A Mitie spokesperson said: 'We are in continuous talks with both Sellafield and GMB and are committed to reaching a resolution. 'As always, our priority is to ensure continued service delivery and in the unfortunate case of a strike going ahead, we will put strong contingencies in place to avoid disruption to the site. "We are proud of the hard work and dedication of all our colleagues up and down the UK, including those at Sellafield.' READ MORE: Cumbrian mum received incurable brain tumour diagnosis on her birthday | News and Star Sellafield are not directly involved in the dispute and have warned site employees of potential delays and congestion on the roads approaching the Sellafield site gates during the strike period. A spokesman said: "As always, the safety and security of the site, our workforce, and the local community is our priority."
Yahoo
23 minutes ago
- Yahoo
Liverpool move closer to midfielder deal with contract ALREADY agreed
Liverpool are in the middle of conducting somewhat of a summer clearout. Having spent around £260m on new arrivals, sporting director Richard Hughes is now busy finding buyers for the Reds' available players. We've seen Luis Diaz leave the club after three-and-a-half years - joining Bayern Munich for around £65m. He joins Trent Alexander-Arnold, Jarell Quansah, Caoimhin Kelleher and Nat Phillips as Liverpool departures this summer - but the selling won't end there. LFC Kits Shop Now LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now If Liverpool are going to add Alexander Isak and - perhaps - a new centre-back then further outgoing deals could be required. Harvey Elliott, Stefan Bajcetic, Federico Chiesa and Ben Doak are among those players being considered for sale - while Tyler Morton could also bring in some very useful income. Morton attracting transfer interest The 22-year-old admitted following the Reds' preseason defeat to AC Milan that he would be looking for more minutes in the season upcoming. But with Ryan Gravenberch, Dominik Szoboszlai, Alexis Mac Allister, Curtis Jones and Wataru Endo ahead of him in the Anfield pecking order it is going to be difficult. England under-21 international Morton has reportedly caught the eye of Ajax and West Ham - and now a new suitor has come forward for the homegrown midfielder. Lyon agree contract with Morton According to L'Equipe in France, Lyon have ALREADY agreed terms with Morton over the terms of a contract. We can take it as an indication that Morton would be willing to move to the Ligue 1 team - who narrowly avoided relegation due to their financial problems. However, those same financial limitations could yet scupper Morton's move to the French league. Because the same report claims that Lyon are reluctant to meet Liverpool's asking price - said to be €9m excluding bonuses. © IMAGO
