Latest news with #OzanErgenay
Business of Fashion
06-05-2025
- Business
- Business of Fashion
Hugo Boss Posts Q1 Beat, Reiterates 2025 Outlook
German fashion group Hugo Boss reported better-than-expected quarterly results on Tuesday and maintained its full-year forecast despite increased macroeconomic uncertainties. The company posted first-quarter revenue of €999 million ($1.13 billion), slightly below the €1.01 billion a year earlier, but above analysts' forecast of €974 million, a company-provided poll showed. Despite US tariff concerns, it said it expects 2025 group sales to remain broadly in line with the prior year, ranging between €4.2 billion and €4.4 billion. Earnings before interest and taxes for the first quarter came in at €61 million, compared to analysts' expectations of €50 million in a company-provided poll. The premium fashion retailer's shares rose 8.4 percent, topping Germany's mid-cap index. They have, however, fallen 11.7 percent year to date. 'Although we note that the demand outlook remains uncertain, we are encouraged by a better performance in March vs January/February,' RBC analysts said. Hugo Boss said in a statement that subdued global consumer sentiment continues to weigh on the fashion sector due to over US tariff uncertainty. RBC, however, believes the company appears well positioned to weather the potential impact of tariffs 'given its well diversified sourcing exposure.' CEO Daniel Grieder in a conference call with journalists said 'It's difficult to make a clear, conclusive assessment and the discussions suggest that consumer confidence in the US has certainly diminished, but I believe that can change every day, and we're prepared for that. We're trying to respond actively but also flexibly to the given circumstances.' Luxury groups have struggled with tighter consumer spending due to slowing demand for fashion and accessories, particularly in the US and China. By Ozan Ergenay; Editors: Savio D'Souza and Sonia Cheema Learn more: Hugo Boss Sees Broadly Stable 2025 Sales, Flags Muted Demand in First Quarter The company pointed to ongoing headwinds from macroeconomic and geopolitical uncertainty that have affected business performance since the start of the year.
Mint
30-04-2025
- Automotive
- Mint
Aixtron Q1 orders above last year, says US tariffs currently insignificant
By Ozan Ergenay -German chip systems manufacturer Aixtron on Wednesday reported a 10% increase in quarterly orders and stood by its full-year guidance, saying the risks associated with U.S. tariffs policy were "currently insignificant for the sector". The company posted a first-quarter order intake of 132.2 million euros , helped by high demand from Asia. "The risks associated with U.S. tariffs policy are currently considered insignificant, as semiconductor equipment is currently not subject to U.S. tariffs," Aixtron said in a statement. Shares in Aixtron, which have fallen 25.5% since the start of the year, were up 3.7% in Frankfurt as of 0636 GMT. U.S. President Donald Trump's sweeping tariffs and uncertainty over his trade policies have rocked global markets and drained investors' economic optimism. Yet, tech and auto-related stocks received something of a reprieve after China exempted some goods from U.S. tariffs and the U.S. removed smartphones and other electronics from its tariffs on China. Trump also signed an order on Tuesday to soften the blow of his auto tariffs. Aixtron said it will monitor the impact of U.S. tariffs and any countermeasures to assess effects on its supply chain and production, as well as customer demand, and to "take corrective actions if necessary". It made first-quarter revenue of 112.5 million euros, exceeding analysts' expectations of 102.5 million euros in a poll by LSEG. "We are pleased with the start of the new year. The higher order intake compared to the previous year confirms that our product range is very well positioned, even in a challenging market environment," CEO Felix Grawert said. Aixtron also said it expects revenues in a range of around 120 million to 140 million euros for the second quarter, compared to 131.8 million euros last year. Analysts at Jefferies say Aixtron's first-quarter sales and orders came in well above estimates, saying that the timing of recovery is difficult to assess.
Yahoo
30-04-2025
- Automotive
- Yahoo
Aixtron Q1 orders above last year, says US tariffs currently insignificant
By Ozan Ergenay (Reuters) -German chip systems manufacturer Aixtron on Wednesday reported a 10% increase in quarterly orders and stood by its full-year guidance, saying the risks associated with U.S. tariffs policy were "currently insignificant for the sector". The company posted a first-quarter order intake of 132.2 million euros ($150.5 million), helped by high demand from Asia. "The risks associated with U.S. tariffs policy are currently considered insignificant, as semiconductor equipment is currently not subject to U.S. tariffs," Aixtron said in a statement. Shares in Aixtron, which have fallen 25.5% since the start of the year, were up 3.7% in Frankfurt as of 0636 GMT. U.S. President Donald Trump's sweeping tariffs and uncertainty over his trade policies have rocked global markets and drained investors' economic optimism. Yet, tech and auto-related stocks received something of a reprieve after China exempted some goods from U.S. tariffs and the U.S. removed smartphones and other electronics from its tariffs on China. Trump also signed an order on Tuesday to soften the blow of his auto tariffs. Aixtron said it will monitor the impact of U.S. tariffs and any countermeasures to assess effects on its supply chain and production, as well as customer demand, and to "take corrective actions if necessary". It made first-quarter revenue of 112.5 million euros, exceeding analysts' expectations of 102.5 million euros in a poll by LSEG. "We are pleased with the start of the new year. The higher order intake compared to the previous year confirms that our product range is very well positioned, even in a challenging market environment," CEO Felix Grawert said. Aixtron also said it expects revenues in a range of around 120 million to 140 million euros for the second quarter, compared to 131.8 million euros last year. Analysts at Jefferies say Aixtron's first-quarter sales and orders came in well above estimates, saying that the timing of recovery is difficult to assess. ($1 = 0.8782 euros) Sign in to access your portfolio
Time of India
30-04-2025
- Business
- Time of India
Siltronic cuts full-year core profit margin target, but confirms sales outlook despite US tariffs
By Ozan Ergenay German semiconductor materials supplier Siltronic on Wednesday cut its annual core profit margin forecast, citing expected negative price effects outside of long-term agreements, but confirmed full-year sales guidance, saying it's not yet possible to estimate the impact of U.S. tariffs. The company, whose customers include Infineon, Intel, Samsung and TSMC, now expects a margin of 21% to 25% on earnings before interest, taxes, depreciation and amortization (EBITDA), having previously forecast a range of 22%-27%. "Sales guidance for the full year 2025 remains unchanged, although it is not yet possible to estimate the impact of American tariff policies and the corresponding countermeasures on expected end-market growth and FX rates for the remainder of the year," Siltronic said in a statement. U.S. President Donald Trump's sweeping tariffs and uncertainty over his trade policies have sent global markets into a tailspin and significantly dampened investors' economic optimism. "Visibility remains limited on when our customers' inventories will recover and thus demand for wafers will increase. Added to this are uncertainties due to the tightening of American tariff policies and the corresponding countermeasures," CEO Michael Heckmeier said. Heckmeier added that the impacts on end-markets and foreign exchange rates are not yet foreseeable, but Siltronic does not currently expect any significant direct impact of tariff policies. "However, 2025 will continue to be characterized by elevated inventory levels at customers and the associated volume tariffs," the company said. Siltronic has been suffering from its customers' slower than expected inventory reductions, even as the demand for wafers was increasing in the end markets. Weak demand for automotive, PC and memory chips has been only partially offset by AI chip demand even before Trump's back-and-forth announcements on tariffs. Its quarterly EBITDA came in at 78.3 million euros ($89.07 million), down 12.5% from 90.8 million euros a year earlier, and below analysts' estimate of 85.8 million euros in a poll by LSEG data.
Yahoo
14-03-2025
- Automotive
- Yahoo
European truck shares fall on US electric vehicle rule reversal
By Paolo Laudani and Ozan Ergenay (Reuters) -Shares in European truck makers fell on Thursday after the U.S. Environmental Protection Agency (EPA) said it would move to reverse the Biden administration's vehicle emissions rules. European truck makers' sales slowed last year from a record 2023. However, analysts said fleet firms had been expected to "pre-buy" trucks in the second half of this year and 2026 before the emissions rules took effect, but that was now unlikely. "Given the EPA's latest comments, the market likely assumes the tighter regulations will be reversed, meaning there is no longer an expectation of a pre-purchase surge," Pal Skirta, an analyst at German broker Metzler, told Reuters. Skirta, as well as a Daimler Truck spokesperson, told Reuters this was the main reason behind the drop in share prices. Daimler Truck was the biggest faller, down 5% and the worst performer on Germany's blue-chip index. "Our top management will elaborate in more detail on the subject tomorrow during our annual results conference," the spokesperson said. Arne Rautenberg, a fund manager at Union Investment which owns shares in Daimler, told Reuters the rollback would limit the expected buying cycle and therefore reduce expectations, at least for 2025. "This announcement is bad news not just from an ESG perspective but also from a fundamental perspective," he said. The EPA is also reconsidering a 2022 regulation that aims to drastically cut smog- and soot-forming emissions from heavy-duty trucks, saying the rule makes trucks more expensive. The United States is the most important market for Daimler, which has invested heavily in emission-free drive systems with a view to climate protection goals and corresponding regulations. Its Swedish rival Volvo Group considers North America its second largest market, accounting for over 30% of net sales. Shares of Volvo and Germany's Traton, a Volkswagen subsidiary, were down around 3% by 1233 GMT. A Volvo spokesperson declined to comment on either the potential regulation change or the effect on demand, calling both speculation for now, but said it was following the political process. "It is normally much cheaper to produce in a demand-driven economy rather than a politically-driven economy," the spokesperson added.
