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Int'l Business Times
9 hours ago
- Business
- Int'l Business Times
Wirtz Wants To 'Win Everything' For Liverpool After Record Move
Florian Wirtz said he wants to win it all at Liverpool after completing a blockbuster move from Bayer Leverkusen on Friday, which could reportedly rise to a Premier League record fee. Reports in England said the Premier League champions will pay an initial GBP100 million ($134 million) for Wirtz, comfortably surpassing their own record outlay, with a further GBP16 million in performance-related add-ons making it a British record deal. However, German media suggested the fee could be even higher, starting at 130 million euros (GBP111 million, $149 million) with add-ons taking it to 150 million euros. One of European football's elite young stars, Wirtz has been hailed as one of the "best in the world" by former Leverkusen coach and ex-Liverpool midfielder Xabi Alonso, who is the new boss of Real Madrid. "I would like to win everything every year!" Wirtz told the club's website. "In the end, we want to be successful. Last season they won the Premier League so my goal is for sure to win it again and also to go further in the Champions League. I'm really ambitious." The 22-year-old played a crucial role in Leverkusen's greatest season as they claimed a first-ever Bundesliga title and the German Cup in 2023/24 without losing a single game under Alonso. Their only defeat that season, during which Wirtz was crowned Bundesliga player of the year, came in the Europa League final to Atalanta, denying Leverkusen a memorable treble. Bayern Munich restored their grip on the German game last season, with Leverkusen a distant second, and Wirtz is joining an exodus from the BayArena. Netherlands defender Jeremie Frimpong has already made the move from Leverkusen to Liverpool last month. "I'm really excited to have a new adventure in front of me," added Wirtz, who turned down the option of joining Bayern for the move to England. "This was also a big point of my thoughts: that I want to have something completely new, to go out of the Bundesliga and to join the Premier League." After largely keeping their powder dry in the transfer market during Arne Slot's first season in charge, the Reds are splashing out to strengthen a side that romped to a record-equalling 20th English top-flight title. Bournemouth left-back Milos Kerkez is poised to make the move to Anfield in a GBP40 million deal. Liverpool have also been linked with Newcastle striker Alexander Isak and Crystal Palace centre-back Marc Guehi. Where Wirtz's fits into Slot's plans remains to be seen. He largely played behind a central striker at Leverkusen and has operated from a wider role for Germany. A return of 57 goals and 65 assists in 197 games for Leverkusen is evidence that he carries a threat both as a creator and a goalscorer. "The people say I'm a creative player, and I hope I can bring this creativity to the team and also the joy on the pitch," said Wirtz. "I try to make assists, goals and run for the team to defend. I hope I can just make the team one step better." Liverpool are already blessed with an abundance of forward options, with Mohamed Salah, Luis Diaz and Cody Gakpo all offering a goal threat. However, Diogo Jota, Darwin Nunez and Federico Chiesa now face even stiffer competition to get into Slot's starting line-up, raising the prospect of Liverpool selling some of that trio to free up further transfer resources. Germany midfielder Florian Wirtz joined Liverpool from Bayer Leverkusen on Friday AFP
Yahoo
30-04-2025
- Business
- Yahoo
Associated British Foods PLC (ASBFF) (H1 2025) Earnings Call Highlights: Navigating Challenges ...
Group Revenue: GBP9.5 billion, in line with last year at constant currency. Group Adjusted Operating Profit: GBP835 million, a decrease of 10% at constant currency. Operating Margin: Down from 9.8% to 8.8% due to losses in Sugar. Retail Revenue Growth: 1% increase, with strong performance in key growth markets. Retail Operating Profit: Increased by 8% from GBP508 million to GBP540 million. Retail Operating Margin: Improved from 11.3% to 12.1%. Grocery Operating Profit: Increased by 1%, with a margin of 10.9%. Ingredients Operating Profit: Up 8%, with strong performance in yeast and bakery ingredients. Sugar Sales Decline: 4% decrease, with an adjusted operating loss of GBP16 million. Free Cash Flow: GBP27 million, with capital expenditure of GBP0.6 billion. Share Buybacks: GBP422 million completed, with a further GBP169 million planned for the year. Net Debt: GBP2.8 billion, with leverage of 1 times. Interim Dividend: 20.7p, in line with last year. Adjusted Earnings Per Share: Decreased by 8% to 83.6p per share. Warning! GuruFocus has detected 5 Warning Sign with BWAGF. Release Date: April 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Primark delivered good sales growth in Europe and the US, demonstrating the effectiveness of its low-cost model. The Grocery and Ingredients segments showed robust performance, benefiting from multi-year investments and strategic initiatives. The company maintained a strong balance sheet and completed significant share buybacks, reflecting confidence in future performance. Primark's expansion in the US and Europe, including new store openings and increased brand awareness, is progressing well. The company is investing in digital channels and supply chain efficiencies, which are expected to drive long-term growth and cost optimization. The Sugar segment reported an operating loss due to lower European sugar prices and high beet costs, with further losses expected. Vivergo, the bioethanol plant, faced significant challenges due to low bioethanol prices and regulatory issues, resulting in operating losses. The UK and Ireland retail environment remains challenging, with consumer caution impacting sales. The company faces potential impacts from US tariffs, particularly affecting Primark's supply chain and cost structure. Allied Bakeries in the UK experienced lower sales volumes, and strategic options are being evaluated to address ongoing challenges. Q: Why have you decided to conduct strategic reviews for Vivergo and Allied Bakeries now, and not earlier? A: George Weston, Chief Executive, explained that the decision was based on recent developments. For Allied Bakeries, improvements seen last year did not persist, prompting a reevaluation. For Vivergo, the plant's operational issues were resolved, but unexpected low ethanol prices necessitated a strategic review. The reviews are specific to each situation and are not indicative of being reactive or asleep at the wheel. Q: Are you concerned about structural issues affecting Primark's market share in the UK? A: George Weston stated that he is not worried about structural issues. Primark remains well-placed and competitively priced. While larger competitors are improving, Primark's market share remains resilient, and there are significant cost opportunities to leverage for future growth. Q: Can you comment on the margin outlook for Primark next year, considering the weaker US dollar and lower shipping costs? A: Joana Edwards, Interim Finance Director, noted that while there are some tailwinds, such as improved FX rates, the company is about two-thirds hedged for next year. The margin levels are comfortable, and any tailwinds provide flexibility for potential investments in pricing or maintaining margins. Q: If Vivergo does not receive favorable regulatory outcomes, what would be the cost implications of mothballing the plant? A: Joana Edwards mentioned that Vivergo is fully written off, so there are no material costs expected from an impairment perspective. The closure costs would be around GBP15 million, with ongoing mothballing costs of a couple of million per year. Q: How are you addressing the potential impact of US tariffs on Primark's supply chain? A: George Weston explained that short-term strategies involve delaying shipments to US ports to mitigate tariff impacts. Long-term, there are viable alternative sources for some products, but categories like footwear and cosmetics, which are heavily reliant on China, present challenges. The company is monitoring the situation closely and adapting as needed. 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
