Latest news with #EUR1.7
Yahoo
03-06-2025
- Business
- Yahoo
Ireland Construction Industry Report 2025-2029: Public and Private Sector Investments in Residential, Transport, Electricity Infrastructure Driving Growth
Explore Ireland's construction market growth, projected at 3.3% in 2025 and 4.8% annually from 2026 to 2029, driven by investments in transport, housing, and infrastructure. Key reports detail sector analysis, project pipelines, and future opportunities. Get insights from leading experts to drive strategic business decisions. Dublin, June 03, 2025 (GLOBE NEWSWIRE) -- The "Ireland Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)" report has been added to analyst expects the construction industry in Ireland to grow by 3.3% in real terms in 2025, before recording an annual average growth of 4.8% from 2026 to 2029, supported by public and private sector investments in transport, electricity, and residential infrastructure sectors. According to the Central Statistics Office (CSO), the total number of planning permissions granted for construction grew by 2.2% in 2024, preceded by a decline of 7.4% in 2023. In February 2025, the Minister of Transport, Darragh O'Brien, Minister of State, Sean Canney and Jerry Buttimer announced a EUR713 million ($776.9 million) investment program for regional and local roads in 2025. This funding represents an increase of over 8% compared to the previous year, and aims at enhancing road safety and improving the interconnected regional and local road network, ongoing maintenance and renewal of the regional and local road network, along with strategic investments to develop and enhance road infrastructureIn January 2025, the state-backed lender 'Home Building Finance Ireland' revealed that the loan approval for housebuilders increased by 42% in 2024, increasing from EUR1.7 billion ($1.9 billion) in 2023 to EUR2.7 billion ($2.9 billion). It had approved funding for the construction of 13,186 new homes in 23 counties. Furthermore, in February 2025, the Bank of Ireland revealed that it has approved EUR600 million ($653.8 million) in new construction loans aimed at supporting housebuilders in delivering approximately 4,000 new homes by 2028. This is in line with the Bank of Ireland's goal of facilitating the construction of 21,000 homes by 2028. Notably, this initiative also includes a commitment to provide 9,500 social and affordable homes, highlighting the bank's dedication to addressing housing needs in the community. In March 2025, the Minister for Housing, James Browne, announced a funding of EUR436 million ($475.1 million) for the construction of more than 1,300 new social homes across the country by 2027. Also, the Irish government announced in January 2025 that it plans to construct 41,000 housing units in 2025 and 43,000 units in 2026. The government aims to deliver 303,000 homes by the end of 2030. Scope Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Ireland, featuring details of key growth drivers. Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline. Listings of major projects, in addition to details of leading contractors and consultants Reasons to Buy Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies Assess market growth potential at a micro-level with over 600 time-series data forecasts Understand the latest industry and market trends Formulate and validate business strategies using the analyst's critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors Key Topics Covered: 1 Executive Summary2 Construction Industry: At-a-Glance3 Context3.1 Economic Performance3.2 Political Environment and Policy3.3 Demographics3.4 Risk Profile4 Construction Outlook4.1 All Construction Outlook Latest news and developments Construction Projects Momentum Index 4.2 Commercial Construction Outlook Project analytics Latest news and developments 4.3 Industrial Construction Outlook Project analytics Latest news and developments 4.4 Infrastructure Construction Outlook Project analytics Latest news and developments 4.5 Energy and Utilities Construction Outlook Project analytics Latest news and developments 4.6 Institutional Construction Outlook Project analytics Latest news and developments 4.7 Residential Construction Outlook Project analytics Latest news and developments 5 Key Industry Participants5.1 Contractors5.2 Consultants6 Construction Market Data7 AppendixFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error 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
15-05-2025
- Business
- Yahoo
ABN AMRO Bank NV (ABMRF) Q1 2025 Earnings Call Highlights: Strong Profit and Lending Growth ...
Net Profit: EUR619 million. Return on Equity: Approximately 10%. Mortgage Portfolio Growth: Increased by EUR1.7 billion. Corporate Loans Growth: Increased by EUR900 million. Fee Growth: Up by 8% compared to Q1 2024. Underlying Costs: Decreased by 5% compared to Q4. CET1 Ratio: 14.7%. Net Interest Income Guidance: Expected between EUR6.2 billion and EUR6.4 billion for the year. Fee and Commission Income Growth: Increased by 1% compared to the last quarter. Underlying Costs Guidance: Expected to be between EUR5.3 billion and EUR5.4 billion for 2025. Impairments: EUR5 million booked in Q1. Cost of Risk Expectation: Below 15 to 20 basis points for 2025. Warning! GuruFocus has detected 6 Warning Sign with ABMRF. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ABN AMRO Bank NV (ABMRF) reported a solid net profit of EUR619 million for Q1 2025, with a return on equity of around 10%. The bank's mortgage portfolio increased by EUR1.7 billion, and corporate loans grew by EUR900 million, indicating strong lending growth. Fee growth continued, with an 8% increase compared to Q1 2024, supported by contributions from all client units. The bank successfully transitioned to Basel IV, reporting a strong CET1 ratio of 14.7%. ABN AMRO Bank NV (ABMRF) was awarded the overall best European private bank, reflecting its commitment to excellence and innovation in wealth management. Net interest income decreased in Q1, largely due to normalization of treasury results and lower deposit margins. Consumer loans decreased due to repayments, less demand, and the phasing out of legacy products. The bank's net interest margin was under pressure, particularly in the mortgage segment, due to lower margins. There is uncertainty regarding corporate loan growth, with potential delays in investment decisions by clients. The bank faces challenges in maintaining cost discipline, with a focus on controlling insolent expenditures and external hiring. Q: Can you share your initial thoughts on growth opportunities and cost reductions for ABN AMRO, and any updates on capital levels and share buybacks? A: Marguerite Berard, CEO: We have a strong brand, client franchise, and committed teams. Our focus will be on achieving profitable growth, cost discipline, and capital management. We are conducting a strategic review and will share more at our Capital Market Day in November. Ferdinand Vaandrager, CFO: We submitted a proposal to the ECB for model simplification, which will bring stability to our capital position. We expect further improvements over time and will reassess our capital trajectory and share buyback potential in Q2. Q: Have you applied for ECB approval for a share buyback, and what is the potential impact of the SME factor on capital? A: Ferdinand Vaandrager, CFO: We will start discussions in Q2 and provide an update in August. The SME factor could have a EUR2 billion to EUR3 billion impact, and we are optimizing our capital position, as seen with our recent SRT with the European Investment Bank. Q: How are you managing the increase in full-time employees (FTEs) in the corporate center, and will the Capital Markets Day address capital distribution plans? A: Marguerite Berard, CEO: We are managing our cost base to keep it flat compared to last year and internalizing specific skills when necessary. Ferdinand Vaandrager, CFO: We have reached an inflection point in FTE growth and are focusing on operational efficiency. We aim to be predictable and reliable, sticking to our commitments regarding capital distribution timelines. Q: How do you plan to address the deposit franchise and corporate lending given high risk weighting and low ROE? A: Marguerite Berard, CEO: Total deposits have increased, with seasonal effects impacting client deposits. We have a stable deposit franchise. Ferdinand Vaandrager, CFO: We can run the corporate bank profitably, and capital management is a priority. The RWA density may appear high, but it excludes off-balance sheet exposures. Q: What is your mandate from the Board, and how do you view mortgage growth and clearing income? A: Marguerite Berard, CEO: My mandate is to lead the bank into its next strategic phase, covering all aspects, including cost management. Ferdinand Vaandrager, CFO: Mortgage growth continues, with lower margins but higher ROE. Clearing income remains strong, contributing significantly to fee and net interest income. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
14-05-2025
- Business
- Yahoo
Bayer AG (BAYRY) Q1 2025 Earnings Call Highlights: Navigating Challenges and Capitalizing on ...
Revenue: Flat year-over-year, within the -3% to +1% corridor guidance for 2025. Core EPS: EUR2.49, on track to reach EUR4.50 to EUR5.00 at constant currencies. Free Cash Flow: Minus EUR1.5 billion, EUR1 billion improvement from last year. Crop Science Sales: Declined 3%, with regulatory impacts affecting higher margin sales. Pharmaceuticals Sales: Grew 4%, with Nubeqa and Kerendia increasing 80% year-over-year. Consumer Health Sales: Increased 2.5%, with 2% volume growth. EBITDA Before Special Items: EUR4.1 billion, 7% below prior-year quarter. Net Financial Debt: Increased by EUR1.7 billion to EUR34.3 billion since year-end 2024. Crop Science EBITDA Margin: 33.7%, 10% lower due to regulatory impacts and corn phasing. Pharmaceuticals EBITDA Margin: 29.5%, increased by 12% due to higher sales and efficiency gains. Consumer Health EBITDA Margin: 22.8%, slightly below prior year but within guidance range. Warning! GuruFocus has detected 3 Warning Sign with BAYRY. Release Date: May 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bayer AG (BAYRY) reported a strong performance in its Pharmaceuticals division with a 4% growth, driven by the exceptional momentum of Nubeqa and Kerendia, which grew 80% year-over-year. The company achieved a 12% increase in EBITDA before special items in the Pharmaceuticals division, indicating effective cost management and efficiency gains. Consumer Health division saw a 2.5% growth, with a 2% increase in volume, positioning the division well to meet its annual guidance. Bayer AG (BAYRY) is on track to meet its full-year guidance for 2025, with core EPS expected to be between EUR4.50 to EUR5.00 at constant currencies. The company has made significant progress in its strategic priorities, including the launch of Beyonttra in the EU and preparations for the launch of elinzanetant in the second half of the year. Bayer AG (BAYRY) reported a 3% decline in sales for its Crop Science division, primarily due to regulatory impacts affecting higher margin sales. The company's free cash flow was negative at EUR1.5 billion, attributed to the seasonality of the Crop business, although it showed improvement from the previous year. Xarelto sales declined by 31% due to continued generic pressure in Europe and Japan, impacting the Pharmaceuticals division's top and bottom line. The Consumer Health division experienced soft conditions in key markets, with a slight decline in margins compared to the previous year. Bayer AG (BAYRY) faces ongoing litigation challenges, including an adverse decision by the Superior Court of Pennsylvania, which may impact financial provisions and require further legal actions. Q: Could you discuss the expected growth in Crop Science for Q2 and any impacts from forward purchasing on crop protection products? A: Rodrigo Santos, Head of Crop Science, explained that excluding regulatory impacts, the core business would have grown by 2.4%. The corn business is expected to grow by 2.5% in Q1 due to accounting adjustments. Crop protection reported 2% growth, which would be 5% excluding regulatory impacts. The company remains confident in its guidance for the year, driven by innovation and core business health. Q: Can you provide an update on the glyphosate litigation and potential outcomes if the Supreme Court does not accept the case? A: William Anderson, CEO, stated that Bayer expects to hear from the Supreme Court in June or October. The company is not relying solely on this plan and is working with Congress for potential legislative solutions. Bayer is also considering structural options and remains open to settlements, provided they offer a high degree of finality. Q: How confident are you in the safety and efficacy of Asendexian, and what is the expected market potential? A: Stefan Oelrich, Head of Pharmaceuticals, expressed confidence in Asendexian's safety and efficacy, noting positive results from the Pacific program. The Phase III study targets populations with significant effects observed in Phase II. The market potential is substantial, especially if prevalent cases are included. Q: Could you elaborate on the state legislation efforts related to glyphosate and their significance? A: William Anderson highlighted that state legislation is crucial for providing certainty to manufacturers and signaling to Congress the need for federal clarification. Missouri is a key state due to the volume of lawsuits filed there. Bayer is pursuing legislation in additional states to support its position. Q: What are Bayer's expectations for corn acreage in the U.S., and how does it impact profitability compared to soy? A: Rodrigo Santos stated that Bayer is optimistic about high corn acreage in the U.S., potentially reaching 94-95 million acres. Corn is more profitable than soy, and Bayer expects growth in corn globally. The company is also focused on margin expansion through cost control and efficiency improvements. 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
03-05-2025
- Business
- Yahoo
Basf SE (BASFY) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic Growth
Revenue: EUR17.4 billion, nearly at the same level as the prior year quarter. EBITDA Before Special Items: EUR2.6 billion, decreased by EUR87 million compared to Q1 2024. Adjusted EBITDA Margin Before Special Items: 6.5%, almost stable compared to the prior year quarter. EBIT Before Special Items: EUR1.7 billion, compared with EUR1.8 billion in the prior year quarter. Special Items in EBIT: Minus EUR467 million, mainly due to the sale of BASF's share in wind farms. Net Income: Decreased by EUR560 million to EUR808 million. Cash Flows from Operating Activities: Minus EUR982 million. Free Cash Flow: Minus EUR1.8 billion, compared with minus EUR1.5 billion in Q1 2024. Net Debt: Increased by EUR1.6 billion to EUR20.4 billion. Equity Ratio: 45.9%, unchanged and very healthy. Volume Decline in North America and US: 9% compared with the prior year quarter. Volume Increase in Asia Pacific: 2% and in Greater China by 7%. Volume Increase in Europe: 2%, while in Germany, they increased by 6%. Volume Increase in South America, Africa, and Middle East: 7% in Q1 2025. Warning! GuruFocus has detected 6 Warning Signs with BASFY. Release Date: May 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. BASF SE (BASFY) maintained its EBITDA before special items at about the same level as the prior year quarter, aligning with analyst estimates. The company has a strong manufacturing footprint with 90% of sales in Europe and North America coming from locally manufactured products, enhancing resilience. Sales volumes increased in Asia Pacific by 2% and in Greater China by 7%, indicating growth in these regions. BASF SE (BASFY) is investing in expanding production capacity for semiconductor-grade sulfuric acid, aligning with growing demand in Europe. The company maintains a strong balance sheet with a 45.9% equity ratio and a single A credit rating, ensuring favorable financing conditions. BASF SE (BASFY) experienced a 9% volume decline in North America and the United States due to challenging market conditions. The Surface Technologies and Agricultural Solutions segments saw considerable volume declines, impacted by lower precious metals trading and presales in previous quarters. EBITDA before special items decreased by EUR87 million compared to the prior year, with several segments recording lower earnings. Cash flows from operating activities were negative, with a free cash flow of minus EUR1.8 billion, reflecting seasonal and operational challenges. The company faces uncertainty from US tariffs and potential counter tariffs, impacting customer sentiment and market dynamics. Q: Are you seeing any changes in terms of indirect consequences from tariff uncertainty in China or the US, and how confident are you in maintaining your full-year guidance given the current economic conditions? A: Dirk Elvermann, CFO, noted that while the direct impact of tariffs is limited, customer sentiment is cautious, leading to a softer start in the second quarter. The outlook remains unchanged, but there is more risk than before. The company will reassess after the second quarter to determine if guidance needs adjustment. Q: Can you explain the EUR300 million loss on the wind farm investment and discuss the balance sheet's capacity for shareholder returns? A: Dirk Elvermann explained that the loss was due to converting a partnership into a PPA, avoiding future investments in a wind farm not needed until the 2030s. Christian Jutzi, President of Corporate Finance, emphasized BASF's strong equity ratio and credit rating, with plans to generate significant cash flow for future distributions. Q: How are global economic conditions affecting the timing of potential disposals, and what levers do you have left to reduce spending if needed? A: Dirk Elvermann stated that the disposal process is on track despite challenging conditions. BASF is accelerating cost-saving efforts, aiming for an additional EUR100 million in savings by year-end, and is prepared to implement further measures if necessary. Q: What is the current situation in China regarding demand and the impact on your Nutrition & Care business? A: Dirk Elvermann noted that China's demand is stable, with no further improvement or deterioration expected. Christian Jutzi added that Nutrition & Care is recovering from last year's incident, with production ramping up and expected positive results in the second half of the year. Q: What are the expectations for the new China plant and the impact of tariffs on ramp-up costs? A: Dirk Elvermann confirmed that the China plant is on track for completion by year-end, with high utilization expected. Ramp-up costs are anticipated to remain as planned, with no current concerns about increased costs due to tariffs. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
18-02-2025
- Business
- Yahoo
Commerzbank AG (CRZBF) Q4 2024 Earnings Call Highlights: Strong Financial Performance and ...
Net Return on Tangible Equity: 9.2% for 2024. Capital Return to Shareholders: EUR1.7 billion in 2024. Cost/Income Ratio: 59% in 2024, better than the target of 60%. Net Result: Increased by 20% to almost EUR2.7 billion in 2024. CET1 Ratio: 15.1% at the end of 2024. Net Interest Income (NII): EUR8.3 billion in 2024. Net Commission Income (NCI): Increased by 7% year on year. Corporate Clients Revenue Growth: 5% increase in 2024. Private and Small Business Customers Revenue Growth: Driven by 7% higher fee income. mBank Revenue Growth: 10% growth in both NII and NCI. Share Buyback Program: EUR600 million completed, with approval for an additional EUR400 million. Dividend Proposal: EUR0.65 per share. 2025 NII Guidance: EUR7.7 billion to EUR7.9 billion. 2025 Cost/Income Ratio Target: 57%. 2025 Risk Result Expectation: Around EUR850 million. 2025 Net Result Target: EUR2.4 billion, excluding restructuring charges. 2025 CET1 Ratio Target: At least 14%. Warning! GuruFocus has detected 4 Warning Sign with CRZBF. Release Date: February 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Commerzbank AG (CRZBF) delivered a strong financial outperformance in 2024 with a net return on tangible equity of 9.2%, exceeding their target of at least 8%. The bank returned EUR1.7 billion more capital to shareholders than planned, demonstrating a commitment to shareholder value. Commerzbank AG achieved a cost/income ratio of 59%, better than their target of 60%, due to strong revenue growth and effective cost management. The Corporate Clients segment increased revenues by 5%, driven by substantial growth in fee, lending, and rates businesses. The bank's CET1 ratio stood at 15.1% at the end of 2024, providing a solid buffer above regulatory requirements and positioning them well for future growth. Commerzbank AG faced a pretax burden of EUR1 billion from legal provisions for FX mortgages in Poland, impacting their net result. The bank anticipates a risk result of around EUR850 million in 2025, reflecting a challenging economic environment. There are planned restructuring charges of EUR700 million pretax for headcount reduction as part of their momentum strategy. The bank's net interest income remained stable despite challenges posed by increased deposit betas and lower rates towards the end of the year. Commerzbank AG's mBank subsidiary in Poland faces ongoing risks from FX mortgages, although provisions are expected to decrease in 2025. Q: Can you clarify the payout above 100% in 2025 and whether it requires special approval from the ECB? Also, what level of wage inflation are you expecting in 2025? A: The payout above 100% in 2025 is part of our capital return policy, aligned with our Supervisory Board and acknowledged by the ECB, which agreed that restructuring costs fall under this one-off rule. Regarding wage inflation, there was a 5% increase in 2024, and for 2025, we expect a 4% increase for pay scale workers and a 5% increase for non-pay scale workers. Q: Could you provide more details on the deposit beta decline in Q4 and the structural hedge increase to EUR138 billion? A: The deposit beta decline in Q4 was mainly due to the maturity of higher rate site deposits in the PSBC area, reducing the beta to 39%. For 2025, we plan conservatively with a deposit beta, considering planned deposit growth. The EUR138 billion structural hedge is purely from deposits. Q: Could you elaborate on the risk result and targeted loan volume growth, especially regarding mortgage portfolios? A: In Q4, we saw single cases of defaults across industries, mainly in Corporate Clients, but no specific industry concerns us. Regarding mortgage portfolios, we expect nice growth due to price and interest rate developments, although not returning to previous peak levels. For Polish FX mortgages, we anticipate a significant decline in provisions in 2025. Q: What has driven the strong fee income growth, and how do you plan to manage the increasing share buybacks? A: The fee income growth in 2024 resulted from measures initiated in 2023 across all segments, including mBank, corporate clients, and private clients. For share buybacks, we start the year by assessing developments and apply for regulatory approval post-AGM and H1 results. Q: Can you provide insights into the conservative assumptions for 2025 NII and potential cost adjustments if revenue doesn't meet expectations? A: Conservative assumptions for 2025 NII include slightly higher forward rates, a planned deposit beta of 41%, and conservative deposit volume growth. If revenue falls short, we have flexibility to adjust costs, such as reducing marketing spending or delaying the hiring of relationship managers. Q: How do you assess loan growth in corporate clients, and what is the outlook for Polish FX mortgage provisions? A: We expect significant loan growth in corporate clients, driven by investments, particularly outside Germany and Europe. For Polish FX mortgages, we anticipate significantly lower provisions in 2025 compared to 2024, with 2025 likely being the last year of larger provisions. Q: How confident are you that the increased level of Stage 3 loans won't require higher provisions, and how have Aquila's assets under management developed? A: The increase in Stage 3 loans is due to a legacy case fully protected from a credit risk perspective, requiring no significant provisions. Aquila has seen a nice pickup in assets under management, particularly in Q4, and we will provide more concrete numbers post-call. Q: What are your thoughts on the strong deposit growth in Germany and Poland, and how does it affect the structural hedge? A: Deposit growth in Germany and Poland is linked to attracting volumes from savings customers. We will adjust the replication portfolio size according to growth, maintaining tranches with maturities of 2, 5, and 10 years. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
