Latest news with #AlbanKacher
Yahoo
30-04-2025
- Business
- Yahoo
European steelmakers flag trade and price risks despite quarterly earnings beats
By Anna Peverieri and Alban Kacher (Reuters) -Europe's top steelmakers showed more resilience than expected in their first-quarter earnings, but warned that global trade tensions, weak European prices and market volatility are clouding the outlook for the rest of the year. ArcelorMittal, which reported on Wednesday a smaller-than-expected drop in its quarterly core profit, flagged trade disruptions as a risk to its 2025 steel demand forecasts, particularly in the U.S. and China, sending its shares down more than 5%. "Heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved," the CEO of the world's number two steelmaker Aditya Mittal said, echoing concerns raised by Swedish rival SSAB. SSAB, which also reported a smaller-than-expected drop in earnings on Tuesday, said the proximity of its facilities to customers, and specialised products helped cushion the immediate impact of new U.S. tariffs, but warned of a "more uncertain than usual" second-quarter outlook in its steel division. The results of Luxembourg-based steel group Aperam also came slightly above expectations on Wednesday, which it credited to higher volumes in Europe and the contribution from the consolidation of its U.S.-based business. Aperam, which makes stainless and speciality steels and alloys, operates mainly in the EU and Brazil, and has limited exposure to the U.S. market. The group warned that pricing pressure would weigh further on its earnings in the second quarter, though it should improve compared to the previous three months' performance. However, its admission that it was difficult to provide an outlook for the quarters further ahead sent its shares down in early trading. "Reliable projections for the remainder of the year are challenging in the current volatile environment," group CEO Timoteo Di Maulo said. According to Oddo-BHF analyst Maxime Kogge, second quarter could bring some relief with trade restrictions expected to lift prices, European players further reducing their exposure to China, and restructuring efforts paying off. However, a mix of high energy costs, competition from cheap Chinese producers and higher tariffs on exports to the United States loom large over the European steel industry at a time when the global market already grapples with excess capacity. "Global steel excess capacity is expected to continue rising, (...) fuelled by cross-border investments by Chinese steel companies," the Organisation for Economic Co-operation and Development said in a report earlier this month. ArcelorMittal offered a mixed assessment of its Asian markets. It expects the strong demand trends in India to continue to play out supported by the new 12% safeguard Indian duty on steel imports, notably from China. In China, however, the group expects low steel spreads - the margin between steel prices and production costs - to persist due to overcapacity. Despite its cautious tone, ArcelorMittal reaffirmed its 2025 investment plans and noted a rebound in European steel spreads, supported by the European Commission's Steel and Metals Action Plan, trade barriers against imports and an expected rise in Germany's spending on infrastructure. Other European steel companies, Finland-based Outokumpu Oyj and Spain's Acerinox are due to report their first-quarter results on May 8.
Yahoo
21-03-2025
- Business
- Yahoo
French TV regulator orders Eutelsat to stop broadcasting two Russian channels
By Alban Kacher (Reuters) - French media regulator Arcom has ordered Eutelsat to cease broadcasting Russian channels STS and Channel 5, after a probe revealed the satellite provider's commercial agreements had links to a sanctioned entity. The formal notice follows an investigation prompted by requests from several non-governmental organizations that the broadcasting watchdog should take action against Eutelsat. "These channels are controlled by the Russian company JSC National Media Group, whose financial resources have been frozen ... which entails a ban on their distribution," Arcom said in a statement on Friday. National Media Group, Russia's largest private media holding company, has been subject to European sanctions since December 2022. "Eutelsat scrupulously respects ARCOM's directives, and this request will be implemented as soon as possible," the group said in an emailed statement. Eutelsat added National Media Group was not its direct customer, but that of an intermediary distributor. STS and Channel 5 are broadcast through Eutelsat's capacity on the Eutelsat 36C satellite, operated by Russian Satellite Communications Company (RSCC). The company has three days to stop broadcasting them, Arcom said, after which the regulator could trigger a sanction procedure leading to an eventual fine. During the investigation, Arcom also notified several internet providers of the presence of irregular content on their platforms, which was then withdrawn, a source familiar with the matter told Reuters. The regulator is still investigating several other channels that were reported to it as not conforming with sanctions, the source said. Eutelsat said that to its knowledge, there were no other channels targeted by Arcom at the present. French NGO Comité Diderot welcomed Arcom's decision, but noted it applied only to 21 of the 190 frequencies it had indicated to the watchdog in November. "In our view, priority should have been given to the Russian army's three Zvezda channels and the Orthodox Church's Spas channel," Comité Diderot's coordinator André Lange told reporters. In 2022, Eutelsat stopped broadcasting three Russian TV channels after Arcom urged it to do so.
Yahoo
02-03-2025
- Business
- Yahoo
France's Technip Energies proposes 49% dividend hike after Q4 revenue beat
By Anna Peverieri and Alban Kacher (Reuters) -French infrastructure and technology company Technip Energies proposed a 49% dividend increase on Thursday, as it reported fourth-quarter sales ahead of market expectations. Technip Energies will recommend a cash dividend of 0.85 euros per share for 2024 at its shareholder meeting on May 6, up from 0.57 euros a year ago. The company's shares gained 10.3% by 1102 GMT, with analysts citing the "strong update" driven by revenue growth at the Projects Delivery (PD) business. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Technip Energies, which specialises in engineering and technology for the energy industry, posted quarterly adjusted sales of 1.88 billion euros ($1.97 billion), while analysts polled by the company were expecting 1.76 billion on average. The French group's adjusted order backlog grew 24% to 19.56 billion euros in 2024, providing about three years of visibility on revenue, it said. Technip Energies said it saw high potential in the decarbonisation and circularity markets, with a real acceleration compared to traditional markets. "These are the fastest-growing markets we've positioned ourselves in. They are growing at 20 to 25% a year, and that gives us strong growth potential," CEO Arnaud Pieton told reporters on a call. The group signed several major contracts in the final quarter of 2024, boosting its annual order intake. Those included a 1 billion euro deal for TotalEnergies' Suriname FPSO project and a 2-3 billion euro order for the Net Zero Teesside Power (NZT Power) project in the UK, the world's first gas power plant with carbon capture. Adjusted recurring EBIT margin in the PD division contracted to 7.3% in 2024 from 7.8% a year earlier, due to increased revenue contribution from early-phase projects with limited margin recognition. The contraction was expected, finance chief Bruno Vibert said on the press call, pointing to the anticipated recovery through 2028. The group reiterated its 2025 and medium term targets, announced last November during its Capital Markets Day. ($1 = 0.9539 euros)
Yahoo
12-02-2025
- Business
- Yahoo
Ahold Delhaize CEO sees US tariffs on Canada, Mexico driving prices up
By Alban Kacher and Helen Reid (Reuters) - Supermarket group Ahold Delhaize expects U.S. tariffs on Mexico and Canada to lead to price increases for food and vegetables as well as paper products, group CEO Frans Muller told Reuters on Wednesday. Ahold, which runs U.S. chains including Food Lion, Stop & Shop, and Hannaford, is considering sourcing more products from the West Coast and states such as Florida, should Mexican products become less competitive, Muller added. "As the vast majority of our product is domestically sourced, there is not a lot of danger coming from the tariffs for our company," he said. U.S. President Donald Trump on February 1 announced 25% tariffs on most goods from Canada and Mexico, then agreed to hold off imposing them for a month while he negotiates with the United States' two biggest trading partners. The Dutch group, which on Wednesday reported slightly higher-than-expected fourth-quarter sales, generates more than half of its revenue in the U.S. and has been seeking to keep prices low to retain customers. The company's second-largest market is Europe. Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
French cognac exports slump in 2024 as Chinese measures weigh, data shows
By Alban Kacher (Reuters) - The value of French cognac exports to China fell by nearly a quarter last year as the Chinese economy struggled and Beijing imposed anti-dumping measures on European brandy exports, according to data shared by an industry lobby group on Wednesday. French cognac makers' global exports dropped by 10.6% in value from 2023, data from the Bureau National Interprofessionnel du Cognac (BNIC) shows. The fall was driven by a 24.2% decrease in the value of exports to the Far East region, mainly represented by China, the largest market for cognac by value, which dropped 23.8% year-on-year, and 9.6% by volume. BNIC attributed the fall to a difficult Chinese economic recovery and the effect of anti-dumping measures. "The sharp fall in our shipments to China since last October makes a rapid political solution to the problem of Chinese taxes more necessary than ever," it said. The body said it now expects a period of greater stability for the French government and planned bilateral negotiations with Beijing "must now get underway". French President Emmanuel Macron said in early January that Prime Minister Francois Bayrou will travel to China to try to discuss the trade dispute. ($1 = 0.9599 euros) Sign in to access your portfolio
