ROUNDUP: Eon earns less on the bottom line despite operating strength - share price falls

ESSEN - In view of a weaker financial result, energy supplier Eon earned significantly less in the second quarter than a year earlier. Shareholders accounted for €1.16 billion in profits in the three months to the end of June, down 19 percent, the group announced in Essen on Wednesday. Among other things, this was due to a negative interest result, which had been clearly positive in the previous year, also thanks to a valuation effect. In addition, Eon had to pay taxes this time, after there had been a credit a year earlier. In day-to-day business, however, as already known, things went much better and the planned investments are also picking up speed. The share price fell in a friendly market.

ROUNDUP: Delivery Hero expects more sales - profitability target confirmed.

BERLIN - The food delivery service Delivery Hero expects significantly more revenue in 2023 than previously. The second half of the year in particular should help revenue and operating profit (Ebitda) get back on their feet. However, CFO Emmanuel Thomassin does not want to change anything on the profitability target. "We will not raise our operating profit outlook. We want to keep open the possibility to reinvest," he said Wednesday in an interview with financial news agency dpa-AFX. "What we promised as an operating result, we are sticking to that and we will deliver that." He added that the group was "more than well on track." Thomassin would not commit to exactly where he would invest.

ROUNDUP: Continental lowers sales outlook due to replacement tires - lower costs

HANOVER - Automotive supplier Continental has somewhat dampened its business outlook for the current year due to a weaker replacement tire business. CEO Niko Setzer, for example, is assuming a bandwidth for the sales target of around half a billion euros less than previously because the replacement tire markets in North America and Europe are currently shrinking, according to a statement from the Hanover-based company on Wednesday. On the other hand, Conti now expects slightly better automotive production around the world than before - and less headwind from higher costs. Conti shares rose slightly on the Dax.

ROUNDUP: Hannover Re sees itself on course for record profit - share price slips

HANNOVER - Reinsurer Hannover Re sees itself on course for another record profit this year thanks to higher prices and fewer major losses. After a profit of 960 million euros in the first half of the year, CEO Jean-Jacques Henchoz is still eyeing a surplus of at least 1.7 billion euros for 2023. At the same time, the next major losses are already on the horizon with the forest fires in southern Europe and the floods in Slovenia. The hurricane season in the USA and the Caribbean is also far from over.

ROUNDUP/Next laboratory service provider with profit warning: Qiagen also lowers targets

VENLO - After the pandemic boom, the laboratory services industry is struggling with a decline in orders. Following Sartorius and Merck KGaA, diagnostics specialist and laboratory service provider Qiagen is now also lowering its targets for the year. The new forecast is thus clearly below market expectations. In contrast, the company beat its own targets despite sales and earnings declines in the past quarter and also slightly exceeded experts' assumptions. The share price rose sharply on Wednesday.

ROUNDUP 2: Brenntag earns significantly less - more cautious for 2023

ESSEN - Chemicals trader Brenntag is becoming a bit more cautious for the full year after profit declines in the second quarter. The market environment continues to be characterized by the war in Ukraine, geopolitical tensions and high inflationary pressure, the DAX-listed group announced in Essen on Wednesday. It was conceivable that lower demand could lead to price reductions in Brenntag's supply chains. Brenntag therefore lowered the upper end of its operating profit forecast range somewhat.

ROUNDUP: Stroer significantly increases sales - figures in line with expectations

COLOGNE - Despite the declining German advertising market, outdoor advertising specialist Stroer again increased sales and operating profit in the completed quarter. The Management Board also confirmed its targets for the year. The Stroer share gained a good half percent around midday in a friendly overall market, after losing some ground at the start of trading.

ROUNDUP 2: Flutter makes profit before Borsengang in the USA - share falls

DUBLIN - Irish gambling and sports betting provider Flutter continues to benefit from a flourishing business, especially in the USA. In the other regions, the group is growing at a much slower pace, and business in Australia continues to weaken, as the group, which is listed in the Eurozone's leading index EuroStoxx 50, announced in Dublin on Wednesday. In addition, more intense competition is emerging in the USA. This caused losses for the Irish on the stock exchange.

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Customer note:

ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.

/jha