MIDDAY BRIEFING – Companies and Markets -2-

has more than doubled its pre-tax profit in the first nine months thanks to good operating earnings development in all customer segments and a positive contribution from risk provisioning. In addition, the Landesbank benefited from interest rate reductions from participating in the tenders of the European Central Bank. The institute raised the forecast for 2021 again.


In the third quarter, thanks to a good development in the project business, profit increased disproportionately to sales. According to the announcement, the IT service provider was also able to benefit from special effects. The Neckarsulm-based company is sticking to its annual forecast.


After sales and profit increases in the third quarter of 2021 and a “visible recovery” in the first nine months, it is on track to meet its targets for the year as a whole. For 2022, the company plans double-digit growth rates for external and group sales as well as opening up at least one new market.


transfers its High Performance Materials (HPM) division into an independent legal corporate structure. HPM is one of the suppliers of high-performance plastics, which are mainly used in the automotive as well as the electrical and electronics industries. Lanxess sees electromobility in particular as a promising field of application for plastics, which are mainly used there for car bodies, battery housings and the charging infrastructure.


increased total revenues in the third quarter by 26 percent to 206.9 million euros. EBIT and net income almost doubled to 15.9 million and 10 million euros, respectively. As already communicated, MLP expects to significantly exceed the upper end of the previously forecast EBIT range of 55 to 61 million euros for the full year 2021.


The battery manufacturer felt the effects of the Covid-19 pandemic on the business of some customers in the first nine months of this year. As Varta AG announced, sales in the months of January to September were EUR 622.3 million, 1.3 percent below the comparable value of the previous year. In contrast, adjusted EBITDA increased by 3.2 percent to 182.5 million euros. The adjusted EBITDA margin improved accordingly to 29.3 from 28.0 percent.


was able to reduce the loss in the third quarter despite a one-off charge. Operating profit declined due to a high claims burden in the US business. As the insurer announced, the net loss in the quarter fell to 60 million euros from 418 million euros in the same quarter of the previous year.


The steel group made a profit again in the third quarter thanks to increased sales. Sales for the steel and mining company rose to $ 20.23 billion from $ 13.27 billion a year ago. Revenues also surpassed the second quarter’s value of $ 19.34 billion as higher average steel sales prices and higher mining revenues were achieved.


wants to pay a dividend again. The company reported an increase in pre-tax profit for the first half of fiscal 2022, while sales returned to pre-pandemic levels.


increased sales and profits in the third quarter and benefited from growth in the Parcel & Logistics segment, while the Letter & Direct Mail and Branch & Bank segments recorded declining sales. The Viennese logistics group confirmed the forecast for the year as a whole.


buys construction chemicals provider MBCC Group for an enterprise value of 5.5 billion Swiss francs. The seller is a subsidiary of Lone Star Funds. MBCC emerged from the construction chemicals business of BASF AG, which it had sold last year.


received orders worth a total of 42.8 million euros in the first nine months of 2021, compared with 25.6 million a year ago. Sales rose by 11.2 percent to 51.1 million euros. The EBITDA improved to minus 7.6 million from minus 12.2 million euros.


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DJG / ros

(END) Dow Jones Newswires

November 11, 2021 07:16 ET (12:16 GMT)

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