Reported by RIA Nov. 1 hour ago.
British FM: No-Deal Brexit Will be Geo-Strategic Mistake for Continental Europe
↧
↧
Measles cases hit record high in Europe: WHO
This year, more than 41,000 people have been infected and at least 37 have died as a result of the contagious disease.
Reported by Al Jazeera 58 minutes ago.
↧
UK Foreign Secretary Hunt: Cautiously optimistic that we will get a Brexit deal
Ahead of the latest round of EU-UK Brexit negotiations, scheduled on Tuesday and Wednesday, the UK foreign minister Jeremy Hunt was out on the wires and said that he is cautiously optimistic that we will get a Brexit deal.
*Additional quotes:*
• Chances of a no-deal Brexit are not negligible.
• A no-deal Brexit outcome would be a big geo-strategic mistake for the continent of Europe.
• The UK will prosper after Brexit. Reported by FXstreet.com 2 hours ago.
*Additional quotes:*
• Chances of a no-deal Brexit are not negligible.
• A no-deal Brexit outcome would be a big geo-strategic mistake for the continent of Europe.
• The UK will prosper after Brexit. Reported by FXstreet.com 2 hours ago.
↧
Germany's Hardt: Germany, Europe not manipulating the currency
Germany's CDU member Jurgen Hardt, a key ally of Chancellor Angela Merkel, during an interview with Bloomberg this Tuesday, responded to the US President Donald Trump's accusations and said:
• Germany, Europe not manipulating the currency.
• The US has it in its own hands to stabilize the dollar.
• Germany's trade surplus is due to product quality.
It is worth recalling that the US President Donald Trump on Monday complained about currency manipulation by China and the EU.
Reported by FXstreet.com 1 hour ago.
• Germany, Europe not manipulating the currency.
• The US has it in its own hands to stabilize the dollar.
• Germany's trade surplus is due to product quality.
It is worth recalling that the US President Donald Trump on Monday complained about currency manipulation by China and the EU.
Reported by FXstreet.com 1 hour ago.
↧
210bhp Ford Ranger Raptor confirmed for UK launch in 2019
This is the 210bhp Ford Ranger Raptor
Performance-tuned Raptor version of Ranger pick-up will be on sale in the UK early next year, with a twin-turbo 2.0-litre diesel engine and 10-speed auto box
After suggesting it earlier this year, Ford has now officially confirmed that the Ranger Raptor will be coming to Europe, and the UK, at the start of next year.
The truck makes its European public debut at Gamescom, a video gaming trade fair in Cologne, Germany. It will also appear in the Forza Horizon 4 driving game when it is launched.
As with other markets, the off-road tuned pick-up is powered by a 2.0-litre twin-turbocharged diesel engine that provides 210bhp and 369lb ft, put to all four wheels through a 10-speed automatic gearbox.
It's capable of 0-62mph in 10.5 seconds, and tops out a 106mph. The larger, 450bhp V6-engined F-150 Raptor achieves the sprint in 6.1sec, while the standard 3.2-litre TDCi-engined Ranger M-Sport Double Cab takes 10.6sec. Economy and CO2 figures are yet to be released.
But it's not purely about straight-line performance, as the Ranger Raptor's front suspension is upgraded to feature Fox Racing shock absorbers, while the rear set-up gains a new Watt's linkage system with coilovers. Off-road speed is a priority for the Ford Performance-developed model, so a set of knobbly BF Goodrich tyres have been specially developed for it.
The truck shares its 10-speed automatic gearbox, which has paddle shifters mounted on the steering column, with the facelifted Mustang and the F-150 Raptor. No manual option is available.
Ford has lifted the Ranger to give the Raptor variant a ground clearance of 283mm, while the front and rear tracks have been widened to 1710mm. The chassis has been modified to handle high-speed off-roading, while the brakes are now 332mm, up from 323mm. The calipers are larger than the standard model's, too, at 54mm.
There are no fewer than six selectable driving modes, with Normal and Sport the on-road modes. Sport tweaks gearshifts to be at higher revs and downshifts more readily when required.
The four off-road drive modes tackle different terrains: Grass, Gravel and Snow; Mud and Sand; Rock; and Baja, which brings the benefits of Sport while scaling back interference from the traction control for high-speed off-road driving.
The Ranger is key in Ford's UK commercial vehicle operations; with around 13,000 examples sold here last year, it made up 10% of the brand’s commercial vehicle sales and was the best-selling pick-up in 2017.
Meanwhile, the Transit Custom accounted for 60,000 sales, or just under half of Ford’s commercial vehicle registrations.
*Read more*
Ford Ranger review
2016 Ford Ranger M-Sport 3.2 TDCi 4x4 double cab review
2018 Ford Mustang revealed with comprehensive updates
The cars of Ford Performance's growing line-up Reported by Autocar 1 hour ago.
Performance-tuned Raptor version of Ranger pick-up will be on sale in the UK early next year, with a twin-turbo 2.0-litre diesel engine and 10-speed auto box
After suggesting it earlier this year, Ford has now officially confirmed that the Ranger Raptor will be coming to Europe, and the UK, at the start of next year.
The truck makes its European public debut at Gamescom, a video gaming trade fair in Cologne, Germany. It will also appear in the Forza Horizon 4 driving game when it is launched.
As with other markets, the off-road tuned pick-up is powered by a 2.0-litre twin-turbocharged diesel engine that provides 210bhp and 369lb ft, put to all four wheels through a 10-speed automatic gearbox.
It's capable of 0-62mph in 10.5 seconds, and tops out a 106mph. The larger, 450bhp V6-engined F-150 Raptor achieves the sprint in 6.1sec, while the standard 3.2-litre TDCi-engined Ranger M-Sport Double Cab takes 10.6sec. Economy and CO2 figures are yet to be released.
But it's not purely about straight-line performance, as the Ranger Raptor's front suspension is upgraded to feature Fox Racing shock absorbers, while the rear set-up gains a new Watt's linkage system with coilovers. Off-road speed is a priority for the Ford Performance-developed model, so a set of knobbly BF Goodrich tyres have been specially developed for it.
The truck shares its 10-speed automatic gearbox, which has paddle shifters mounted on the steering column, with the facelifted Mustang and the F-150 Raptor. No manual option is available.
Ford has lifted the Ranger to give the Raptor variant a ground clearance of 283mm, while the front and rear tracks have been widened to 1710mm. The chassis has been modified to handle high-speed off-roading, while the brakes are now 332mm, up from 323mm. The calipers are larger than the standard model's, too, at 54mm.
There are no fewer than six selectable driving modes, with Normal and Sport the on-road modes. Sport tweaks gearshifts to be at higher revs and downshifts more readily when required.
The four off-road drive modes tackle different terrains: Grass, Gravel and Snow; Mud and Sand; Rock; and Baja, which brings the benefits of Sport while scaling back interference from the traction control for high-speed off-road driving.
The Ranger is key in Ford's UK commercial vehicle operations; with around 13,000 examples sold here last year, it made up 10% of the brand’s commercial vehicle sales and was the best-selling pick-up in 2017.
Meanwhile, the Transit Custom accounted for 60,000 sales, or just under half of Ford’s commercial vehicle registrations.
*Read more*
Ford Ranger review
2016 Ford Ranger M-Sport 3.2 TDCi 4x4 double cab review
2018 Ford Mustang revealed with comprehensive updates
The cars of Ford Performance's growing line-up Reported by Autocar 1 hour ago.
↧
↧
Britain's foreign secretary Jeremy Hunt to urge US, Europe to implement tougher sanctions on Russia
British foreign secretary Jeremy Hunt will urge the United States and European countries to do more to call out Russia's "malign behavior" and keep Vladimir Putin in check, notably by implementing tough sanctions.
Reported by Firstpost 18 minutes ago.
↧
CAC 40 Extends Gains As Investors Shrug Off Trump's Comments
French stocks rose on Tuesday even as the dollar weakened further after U.S. President Donald Trump accused China and Europe of manipulating their currencies and criticized the Federal Reserve for raising interest rates.
Reported by RTTNews 7 minutes ago.
↧
UK TradeMin Fox: EU risks hurting image with Brexit handling – Sky News
In an interview with Sky News on Tuesday, the UK Trade Minister Liam Fox warned that the European Union (EU) risks damaging its image in the world if it pursues a hard stance on the Brexit issue, Reuters reports.
Fox noted: “If the European Union decides that it wants to put ... the ideological purity of the bureaucracy of Brussels ahead of the well-being of the people of Europe, it will send a very big signal to the rest of the world about exactly where Europe is heading.” Reported by FXstreet.com 11 minutes ago.
Fox noted: “If the European Union decides that it wants to put ... the ideological purity of the bureaucracy of Brussels ahead of the well-being of the people of Europe, it will send a very big signal to the rest of the world about exactly where Europe is heading.” Reported by FXstreet.com 11 minutes ago.
↧
Live updates: Trump implicated; Italy migrant decision; and Brexit talks
Join us for live news updates from Europe and beyond.
Reported by euronews 5 hours ago.
↧
↧
Europe Edition: Michael Cohen, Germany, Dubai: Your Wednesday Briefing
Here’s what you need to know to start your day.
Reported by NYTimes.com 5 hours ago.
↧
‘I have a new look on life’, Louis says after travelling around Europe for a month
Louis (21, Belgium) works as an educator for people with mental and physical disabilities during the day and writes rap music the night. For a month, he has been one of the travellers for a Road Trip Project financed by the European Commission.
Reported by EurActiv 5 hours ago.
↧
Fast Europe Open: Poland retail sales, Ireland producer prices
Reported by FT.com 5 hours ago.
↧
East Kilbride junior doctor gets engaged during cycle across Asia and Europe for sick kids
Iona Campbell said yes when junior doctor partner Matthew King went down on one knee during their 10,000-mile charity trek from Vietnam to Glasgow.
Reported by Daily Record 5 hours ago.
↧
↧
Clouds gather for Europe in run up to 10th anniversary of financial crisis
Discrepancies between Italy and the EU over its expenditure, the trade dispute with the US and political quagmires such as the Brexit talks and the migration challenge cloud EU prospects ahead of the tenth anniversary of the collapse of Lehman Brothers.
Reported by EurActiv 5 hours ago.
↧
Hannover Rück SE: Change in top management at Hannover Re
DGAP-News: Hannover Rück SE / Key word(s): Change of Personnel
22.08.2018 / 07:16
The issuer is solely responsible for the content of this announcement.
--------------------
*Press release**Change in top management at Hannover Re*
· *Ulrich Wallin will be retiring in May 2019*
· *Jean-Jacques Henchoz appointed as his successor *Hannover, 22 August 2018: The Supervisory Board of Hannover Rück SE has appointed Jean-Jacques Henchoz (53) as a member of the Executive Board with effect from 1 April 2019. Following the end of the Annual General Meeting on 8 May 2019 he will succeed Ulrich Wallin as Chief Executive Officer of Hannover Rück SE. On the same date, Ulrich Wallin will retire in accordance with the Company's statutes, after his extremely successful service to Hannover Re.
Herbert K. Haas, Chairman of the Supervisory Board of Hannover Rück SE, noted: "We are profoundly grateful to Ulrich Wallin for his tremendous entrepreneurial achievements. Under his expert and prudent direction Hannover Re has significantly expanded its market position as a leading reinsurer and further enhanced its diversification and sustained profitability. In Jean-Jacques Henchoz we have secured the services of a very seasoned reinsurance manager who will continue to drive the company's successful development."
Since 2011, Jean-Jacques Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Reinsurance Company, Zurich ("Swiss Re"), taking responsibility for both the life and non-life business of Swiss Re in this region. In January 2012, he was appointed as a member of the Executive Committee of the Swiss Re Group in this capacity. He had previously served with Swiss Re in a number of different positions since 1998, including in the role of CEO of the subsidiary Swiss Re Canada in the period between 2005 and 2010. Jean-Jacques Henchoz holds a Bachelor of Arts degree in Political Science and a Master of Business Administration degree from the International Institute for Management Development (IMD), Lausanne. He is a Swiss citizen.
Ulrich Wallin can look back on an extremely successful career spanning 35 years with Hannover Re. In 2001, he was appointed to the Executive Board, becoming Chief Executive Officer in 2009. Under his leadership Hannover Re has grown its gross written premium from roughly EUR 10.3 billion to around EUR 17.8 billion and boosted its Group net income from some EUR 700 million to around EUR 1 billion. Hannover Re's share price has more than quadrupled from EUR 27 to EUR 115.
*Hannover Re, *with gross premium of EUR 17.8 billion, is the fourth-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 3,300 staff. Established in 1966, the Hannover Re Group today has a network of more than 140 subsidiaries, branches and representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
Please note the disclaimer:
https://www.hannover-re.com/535917
*Contact*
*Corporate Communications:*
Karl Steinle
Tel. +49 511 5604-1500
karl.steinle@hannover-re.com
*Media Relations: *
Oliver Suess
Tel. +49 511 5604-1502
oliver.suess@hannover-re.com
*Investor Relations: *
Julia Hartmann
Tel. +49 511 5604-1529
julia.hartmann@hannover-re.com
www.hannover-re.com
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Hannover Rück SE
Karl-Wiechert-Allee 50
30625 Hannover
Germany
Phone: +49-(0)511-5604-1500
Fax: +49-(0)511-5604-1648
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
End of News DGAP News Service Reported by EQS Group 4 hours ago.
22.08.2018 / 07:16
The issuer is solely responsible for the content of this announcement.
--------------------
*Press release**Change in top management at Hannover Re*
· *Ulrich Wallin will be retiring in May 2019*
· *Jean-Jacques Henchoz appointed as his successor *Hannover, 22 August 2018: The Supervisory Board of Hannover Rück SE has appointed Jean-Jacques Henchoz (53) as a member of the Executive Board with effect from 1 April 2019. Following the end of the Annual General Meeting on 8 May 2019 he will succeed Ulrich Wallin as Chief Executive Officer of Hannover Rück SE. On the same date, Ulrich Wallin will retire in accordance with the Company's statutes, after his extremely successful service to Hannover Re.
Herbert K. Haas, Chairman of the Supervisory Board of Hannover Rück SE, noted: "We are profoundly grateful to Ulrich Wallin for his tremendous entrepreneurial achievements. Under his expert and prudent direction Hannover Re has significantly expanded its market position as a leading reinsurer and further enhanced its diversification and sustained profitability. In Jean-Jacques Henchoz we have secured the services of a very seasoned reinsurance manager who will continue to drive the company's successful development."
Since 2011, Jean-Jacques Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Reinsurance Company, Zurich ("Swiss Re"), taking responsibility for both the life and non-life business of Swiss Re in this region. In January 2012, he was appointed as a member of the Executive Committee of the Swiss Re Group in this capacity. He had previously served with Swiss Re in a number of different positions since 1998, including in the role of CEO of the subsidiary Swiss Re Canada in the period between 2005 and 2010. Jean-Jacques Henchoz holds a Bachelor of Arts degree in Political Science and a Master of Business Administration degree from the International Institute for Management Development (IMD), Lausanne. He is a Swiss citizen.
Ulrich Wallin can look back on an extremely successful career spanning 35 years with Hannover Re. In 2001, he was appointed to the Executive Board, becoming Chief Executive Officer in 2009. Under his leadership Hannover Re has grown its gross written premium from roughly EUR 10.3 billion to around EUR 17.8 billion and boosted its Group net income from some EUR 700 million to around EUR 1 billion. Hannover Re's share price has more than quadrupled from EUR 27 to EUR 115.
*Hannover Re, *with gross premium of EUR 17.8 billion, is the fourth-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 3,300 staff. Established in 1966, the Hannover Re Group today has a network of more than 140 subsidiaries, branches and representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
Please note the disclaimer:
https://www.hannover-re.com/535917
*Contact*
*Corporate Communications:*
Karl Steinle
Tel. +49 511 5604-1500
karl.steinle@hannover-re.com
*Media Relations: *
Oliver Suess
Tel. +49 511 5604-1502
oliver.suess@hannover-re.com
*Investor Relations: *
Julia Hartmann
Tel. +49 511 5604-1529
julia.hartmann@hannover-re.com
www.hannover-re.com
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Hannover Rück SE
Karl-Wiechert-Allee 50
30625 Hannover
Germany
Phone: +49-(0)511-5604-1500
Fax: +49-(0)511-5604-1648
Internet: www.hannover-re.com
ISIN: DE0008402215
WKN: 840 221
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
End of News DGAP News Service Reported by EQS Group 4 hours ago.
↧
Nigeria:'Over 750 Nigerians Drowned in the Mediterranean Sea in 6 Months'
[Daily Trust] The Migration Enlightenment Project Nigeria, (MEPN) has said more than 750 Nigerians have died attempting to cross the Mediterranean Sea in an illegal migration move to Europe.
Reported by allAfrica.com 4 hours ago.
↧
zooplus AG: Continuation of growth path in the first half of 2018
DGAP-News: zooplus AG / Key word(s): Half Year Results
22.08.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
--------------------
*zooplus AG: **Continuation of growth path in the first half of 2018*
· *Sales increase 24% to EUR 643 m in the first half of 2018
(H1 2017: EUR 517 m / +21%) *
· **Private label sales grow above average at 37% year-on-year **
· ***Gross margin in the second quarter improves by 1.2 percentage points ****over the first quarter of 2018 *
· **Earnings before taxes (EBT) of EUR -9.2 m impacted by strong focus on investment (H1 2017: EUR 5.1 m); improvement expected in the second half of the year **
· ***Positive operating cash flow of EUR 8.0 m due to improved working capital***
· ****Sales and earnings outlook confirmed for full-year 2018****
*Munich, August 22, 2018 - *zooplus AG (WKN 511170, ISIN DE0005111702, ticker symbol ZO1), Europe's leading online retailer of pet supplies, consistently followed its growth path in the first six months of the 2018 financial year. With sales of EUR 643 m, growth of 24% (currency-adjusted: 25%) was achieved compared to the same period of the previous year (H1 2017: EUR 517 m). Business with private label food and litter grew disproportionately with sales in this segment growing 37% versus the same period of the prior year. Sales growth in the first six months of 2018 continued to reach double-digit levels in all 30 regional markets driven by the continued very high level of loyalty from existing customers along with a steady increase in new customers. The sales retention rate adjusted for currency effects in the first half of 2018 reached 94%, while the number of registered new customers increased 16% compared to the same period of the previous year.
The gross margin (sales less cost of materials) developed well during the year, rising significantly from 27.1% in the first quarter to 28.3% in the second quarter of 2018. Price increases from suppliers were more than offset by improvements in purchasing conditions and measures related to pricing.
The positive development of the gross margin was offset by the company's continued focus on investment, particularly in the areas of marketing, personnel and one-time costs in the logistics area for the further expansion of logistics capacities. In the second quarter of 2018, the floor space of the UK fulfillment center was tripled. This new location provides the basis for further strong sales growth in the United Kingdom while improving the quality of deliveries for customers. Earnings before taxes (EBT) amounted to EUR -9.2 m in the first half of 2018 (H1 2017: EUR 5.1 m). In the second half-year, the Management Board expects a significant improvement in earnings coming from seasonal effects, a positive development in the gross margin and increased cost efficiency.
Operating cash flow in the first half of 2018 reached a positive level of EUR 8.0 m. The strong growth coupled with a higher level of investment was again financed by operating cash flow based on further improvements in working capital.
Dr. Cornelius Patt, CEO of zooplus AG, explains: "In the first half of 2018, we consistently followed our growth path to expand our leading market position in the European online pet supplies market. With sales up 24%, and even 25% on a currency-adjusted basis, we exceeded our target in the first half of the year based on our full-year forecast and are well on our way to reaching our full-year target. In the second quarter, the indicated improvement in the gross margin took effect and also led to an improvement in the EBT margin versus the prior quarter. Our goal on a full-year basis is to balance our focus on growth and investment to further expand our market position with an appropriate development of earnings. We expect the gross margin to stabilize further in the second half of the year and will focus more on improving cost efficiency. In doing so, we clearly remain by our target of achieving two billion euros in sales in the year 2020."
For the full year 2018, based on the current business development and the significant improvement in earnings anticipated in the second half of the year, the Management Board confirms both the sales growth target of 21% to 23% compared to the previous year and an EBT margin in the range of +0.5% to -0.5% based on sales.
The complete report for the first half of 2018 is available on the company's website at http://investors.zooplus.com.*Company profile:*
zooplus AG was founded in 1999 and today is Europe's leading online retailer of pet supplies measured by sales. zooplus already occupies the No. 2 market position in the combined market for online and brick-and-mortar retailers of pet supplies. In the 2017 financial year, sales totaled EUR 1,111 m, roughly 75% of which was generated internationally. The company's business model has been launched successfully in 30 European countries. zooplus sells products for all major pet breeds. The product range includes pet food (dry and wet food and food supplements) and accessories such as scratching posts, dog baskets, and toys in all price categories. In addition to a selection of over 8,000 products, zooplus customers benefit from a variety of interactive content and community offerings. The pet supplies market is an important market segment in the European retail landscape. Sales of pet food and accessories within the European Union amount to around EUR 26 bn. Based on the continued vigorous growth anticipated in the European e-commerce market, zooplus expects its dynamic performance to continue.*Online at: *www.zooplus.com*Investor relations/media contact:*
cometis AG, Georg Grießmann
Unter den Eichen 7, 65195 Wiesbaden
Phone: +49 (0)611-205855-61, Fax: +49 (0)611-205855-66
Email: griessmann@cometis.de, Website: www.cometis.de
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: zooplus AG
Sonnenstraße 15
80331 München
Germany
Phone: +49 (0)89 95 006 - 100
Fax: +49 (0)89 95 006 - 500
E-mail: contact@zooplus.com
Internet: www.zooplus.de
ISIN: DE0005111702
WKN: 511170
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 4 hours ago.
22.08.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
--------------------
*zooplus AG: **Continuation of growth path in the first half of 2018*
· *Sales increase 24% to EUR 643 m in the first half of 2018
(H1 2017: EUR 517 m / +21%) *
· **Private label sales grow above average at 37% year-on-year **
· ***Gross margin in the second quarter improves by 1.2 percentage points ****over the first quarter of 2018 *
· **Earnings before taxes (EBT) of EUR -9.2 m impacted by strong focus on investment (H1 2017: EUR 5.1 m); improvement expected in the second half of the year **
· ***Positive operating cash flow of EUR 8.0 m due to improved working capital***
· ****Sales and earnings outlook confirmed for full-year 2018****
*Munich, August 22, 2018 - *zooplus AG (WKN 511170, ISIN DE0005111702, ticker symbol ZO1), Europe's leading online retailer of pet supplies, consistently followed its growth path in the first six months of the 2018 financial year. With sales of EUR 643 m, growth of 24% (currency-adjusted: 25%) was achieved compared to the same period of the previous year (H1 2017: EUR 517 m). Business with private label food and litter grew disproportionately with sales in this segment growing 37% versus the same period of the prior year. Sales growth in the first six months of 2018 continued to reach double-digit levels in all 30 regional markets driven by the continued very high level of loyalty from existing customers along with a steady increase in new customers. The sales retention rate adjusted for currency effects in the first half of 2018 reached 94%, while the number of registered new customers increased 16% compared to the same period of the previous year.
The gross margin (sales less cost of materials) developed well during the year, rising significantly from 27.1% in the first quarter to 28.3% in the second quarter of 2018. Price increases from suppliers were more than offset by improvements in purchasing conditions and measures related to pricing.
The positive development of the gross margin was offset by the company's continued focus on investment, particularly in the areas of marketing, personnel and one-time costs in the logistics area for the further expansion of logistics capacities. In the second quarter of 2018, the floor space of the UK fulfillment center was tripled. This new location provides the basis for further strong sales growth in the United Kingdom while improving the quality of deliveries for customers. Earnings before taxes (EBT) amounted to EUR -9.2 m in the first half of 2018 (H1 2017: EUR 5.1 m). In the second half-year, the Management Board expects a significant improvement in earnings coming from seasonal effects, a positive development in the gross margin and increased cost efficiency.
Operating cash flow in the first half of 2018 reached a positive level of EUR 8.0 m. The strong growth coupled with a higher level of investment was again financed by operating cash flow based on further improvements in working capital.
Dr. Cornelius Patt, CEO of zooplus AG, explains: "In the first half of 2018, we consistently followed our growth path to expand our leading market position in the European online pet supplies market. With sales up 24%, and even 25% on a currency-adjusted basis, we exceeded our target in the first half of the year based on our full-year forecast and are well on our way to reaching our full-year target. In the second quarter, the indicated improvement in the gross margin took effect and also led to an improvement in the EBT margin versus the prior quarter. Our goal on a full-year basis is to balance our focus on growth and investment to further expand our market position with an appropriate development of earnings. We expect the gross margin to stabilize further in the second half of the year and will focus more on improving cost efficiency. In doing so, we clearly remain by our target of achieving two billion euros in sales in the year 2020."
For the full year 2018, based on the current business development and the significant improvement in earnings anticipated in the second half of the year, the Management Board confirms both the sales growth target of 21% to 23% compared to the previous year and an EBT margin in the range of +0.5% to -0.5% based on sales.
The complete report for the first half of 2018 is available on the company's website at http://investors.zooplus.com.*Company profile:*
zooplus AG was founded in 1999 and today is Europe's leading online retailer of pet supplies measured by sales. zooplus already occupies the No. 2 market position in the combined market for online and brick-and-mortar retailers of pet supplies. In the 2017 financial year, sales totaled EUR 1,111 m, roughly 75% of which was generated internationally. The company's business model has been launched successfully in 30 European countries. zooplus sells products for all major pet breeds. The product range includes pet food (dry and wet food and food supplements) and accessories such as scratching posts, dog baskets, and toys in all price categories. In addition to a selection of over 8,000 products, zooplus customers benefit from a variety of interactive content and community offerings. The pet supplies market is an important market segment in the European retail landscape. Sales of pet food and accessories within the European Union amount to around EUR 26 bn. Based on the continued vigorous growth anticipated in the European e-commerce market, zooplus expects its dynamic performance to continue.*Online at: *www.zooplus.com*Investor relations/media contact:*
cometis AG, Georg Grießmann
Unter den Eichen 7, 65195 Wiesbaden
Phone: +49 (0)611-205855-61, Fax: +49 (0)611-205855-66
Email: griessmann@cometis.de, Website: www.cometis.de
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: zooplus AG
Sonnenstraße 15
80331 München
Germany
Phone: +49 (0)89 95 006 - 100
Fax: +49 (0)89 95 006 - 500
E-mail: contact@zooplus.com
Internet: www.zooplus.de
ISIN: DE0005111702
WKN: 511170
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 4 hours ago.
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Gigaset publishes report on the first half of 2018: New business segments contributing increasing revenue
DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/Half Year Results
22.08.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
--------------------
*Press release*
Munich, August 22, 2018
*Gigaset publishes report on the first half of 2018: *
*New business segments contributing increasing revenue*
· *Consolidated revenue of EUR121.0 million in the first half of 2018*
· **Revenue in the second quarter of 2018 up year on year**
· ***Gross profit and EBITDA margins raised***
· ****New business segments growing at a double-digit rate****
· *****Outlook remains positive*****
Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its business figures for the second quarter and the first half of 2018. The future segments of Smartphones (formerly Mobile Devices), Smart Home (formerly Home Networks) and Professional (formerly Business Customers) were able to compensate for the calculated decline in revenue in the Phones (formerly Consumer Products) segment in the second quarter of 2018, in which consolidated revenue totaled EUR69.9 million and hence above the previous year's figure (EUR69.8 million).
The company generated consolidated revenue of EUR121.0 million in the first half of 2018 (previous year: EUR128.3 million), with the decline attributable to a still weak market environment in the Phones segment. The segments Professional, Smartphones and Smart Home were able to achieve double-digit growth rates, although being not able to fully compensate the calculated decline in the Phones sector.
"We were able to post growth well in the double-digit range for the new business segments we've defined. That's a clear sign that we are on the right path with our transformation of Gigaset and the broadening of our product portfolio. Step by step we can compensate the market environment in our core business of Phones with new, innovative products more and more," says Klaus Weßing, Gigaset's CEO. "As part of the digital transformation, we will develop new business models and expand Gigaset into an integrated hardware, software and service provider. We will be able to boost our efficiency and leverage synergies through modularization of the product platform."
*New brand architecture launched*
The brand architecture has been redefined and the individual segments renamed (see above) in order to strengthen the umbrella brand Gigaset. Gigaset is now operating with the new architecture, which will also be successively implemented at product level. The former product brands "Gigaset pro" and "Gigaset elements" have been dropped.
"We expect this approach to reinforce the Gigaset brand," says Stephan Mathys, CFO of Gigaset AG. "Overall, we looked at the issue from a market and customer perspective. One upshot was that the business segments needed to be renamed. We are thus honing our business model internally and externally in the long term - in harmony with our strategic objectives."
The names of the business segments will accordingly change in the quarterly, semi-annual and annual reports and on the Gigaset homepage. The previous names Consumer Products, Mobile Devices, Home Networks and Business Customers will be replaced by Phones, Smartphones, Smart Home and Professional with immediate effect.
*Improvement in EBITDA and gross profit margins*
The result from core business before depreciation and amortization (EBITDA) in the first half of 2018 was EUR7.7 million (previous year: EUR7.9 million), while the EBITDA margin rose from 6.1% to 6.3%. The restructuring meant in particular that personnel costs were reduced sharply by more 10%; however, marketing and representation costs increased as a result of higher expenditures, especially on new products.
*Revenue by business segment*
Revenue for the Phones business segment in the first half of 2018 was EUR85.8 million (previous year: EUR98.1 million). The calculated decline in revenue is in line with the generally development of the market within the EU-4 region. Although the company succeeded again in strengthening its market position by gaining market share and performing better than the market.
Revenue at the Smartphones segment in the first half of 2018 was EUR5.4 million (previous year: EUR3.7 million), an increase of 45%. Gigaset was able to expand its smartphone portfolio significantly with the GS100, GS180 and GS185 models in May 2018 and expects that to deliver further positive boosts to growth in this segment. Furthermore, the Gigaset GS185 is the first smartphone to be produced in Germany, a unique selling point with which the company aims to leverage new revenue potentials.
Smart Home generated revenue of EUR1.4 million (previous year: EUR1.1 million). Gigaset still believes the market for smart home systems and services has a highly promising future and, since May 2018, has addressed a specific security need with each of its four campaign bundles: protection against fire, water and home intruders, as well as user-friendliness.
In the Professionals segment, Gigaset was able to grow revenue sharply by 12% to EUR28.4 million (previous year: EUR25.4 million). Above all, increased revenue in Germany, France and Italy had a positive impact here. A particular contribution was made to that by the IP-based systems from the N series.
*Outlook remains positive*
Gigaset will continue to focus on the realignment of the company in 2018. This means gaining market share in the Phones segment, expanding revenue in the Professionals segment, further expanding smartphone business, and expanding Smart Home as well as additional new business segments such as Smart Care. Expenses in the area of marketing and for capital expenditures will continue to play a key role in 2018. The Group therefore expects the following for the current fiscal year:
· An increase in revenue compared with 2017 in the high single-digit million range through the smartphone business and the expansion of the new business segments. An increase in revenue in the mid-to-high million range is expected in the Germany segment, declining revenue in the mid-million range in Europe, and an increase in the mid-to-high million range for the rest of the world.
· The company expects earnings of the core business before depreciation and amortization of between EUR20 million and EUR28 million. Operational performance is characterized by further declining gross profits in the Phones segment, rising gross profits in the Smart Home and Professional segments, and an expansion of expenses for development and marketing.
· Due to the considerable investments and subsequent expenditure for the social compensation plan and amounts set aside for risks arising from prior-year tax audits, the company expects a negative free cash flow in the mid-single-digit million range.
*Overview of the key figures*
*EUR million* *Jan. 1 - June 30, 2018* *Jan. 1 - June 30, 2017*
Consolidated revenue 121.0 128.3
Result from core business before depreciation
and amortization (EBITDA) 7.7 7.9
Earnings before interest and taxes (EBIT) 0.9 0.5
Consolidated net loss for the year -0.1 -1.3
Free cash flow -23.1 -24.2
Diluted earnings per share in EUR -0.00 -0.01
*EUR million* *June 30, 2018* *Dec. 31, 2017*
Total assets 210.5 226.9
Cash 30,9 49,1
Consolidated equity 23.6 24.1
Equity ratio (in %) 11.2 10.6
Number of employees 855 930
*Gigaset AG*, Munich, is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones and is also a leader in the international arena, with around 850 employees and sales activities in 70 countries. Its business activities are divided into the four product segments Phones, Smartphones, Smart Home and Professional, in which not only DECT phones, but also an extensive smartphone portfolio, cloud-based smart home security solutions, and business telephony solutions for small and medium-sized enterprises (SMEs) are created.
Gigaset AG is listed in the Prime Standard of Deutsche Börse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).
Information for investors can be found on our homepage.
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Gigaset AG
Bernhard-Wicki-Straße 5
80636 München
Germany
Phone: +89 444456 - 866
Fax: +89 444456 - 930
E-mail: info@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 3 hours ago.
22.08.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
--------------------
*Press release*
Munich, August 22, 2018
*Gigaset publishes report on the first half of 2018: *
*New business segments contributing increasing revenue*
· *Consolidated revenue of EUR121.0 million in the first half of 2018*
· **Revenue in the second quarter of 2018 up year on year**
· ***Gross profit and EBITDA margins raised***
· ****New business segments growing at a double-digit rate****
· *****Outlook remains positive*****
Gigaset AG (ISIN: DE0005156004), an internationally operating company in the area of communications technology, today published its business figures for the second quarter and the first half of 2018. The future segments of Smartphones (formerly Mobile Devices), Smart Home (formerly Home Networks) and Professional (formerly Business Customers) were able to compensate for the calculated decline in revenue in the Phones (formerly Consumer Products) segment in the second quarter of 2018, in which consolidated revenue totaled EUR69.9 million and hence above the previous year's figure (EUR69.8 million).
The company generated consolidated revenue of EUR121.0 million in the first half of 2018 (previous year: EUR128.3 million), with the decline attributable to a still weak market environment in the Phones segment. The segments Professional, Smartphones and Smart Home were able to achieve double-digit growth rates, although being not able to fully compensate the calculated decline in the Phones sector.
"We were able to post growth well in the double-digit range for the new business segments we've defined. That's a clear sign that we are on the right path with our transformation of Gigaset and the broadening of our product portfolio. Step by step we can compensate the market environment in our core business of Phones with new, innovative products more and more," says Klaus Weßing, Gigaset's CEO. "As part of the digital transformation, we will develop new business models and expand Gigaset into an integrated hardware, software and service provider. We will be able to boost our efficiency and leverage synergies through modularization of the product platform."
*New brand architecture launched*
The brand architecture has been redefined and the individual segments renamed (see above) in order to strengthen the umbrella brand Gigaset. Gigaset is now operating with the new architecture, which will also be successively implemented at product level. The former product brands "Gigaset pro" and "Gigaset elements" have been dropped.
"We expect this approach to reinforce the Gigaset brand," says Stephan Mathys, CFO of Gigaset AG. "Overall, we looked at the issue from a market and customer perspective. One upshot was that the business segments needed to be renamed. We are thus honing our business model internally and externally in the long term - in harmony with our strategic objectives."
The names of the business segments will accordingly change in the quarterly, semi-annual and annual reports and on the Gigaset homepage. The previous names Consumer Products, Mobile Devices, Home Networks and Business Customers will be replaced by Phones, Smartphones, Smart Home and Professional with immediate effect.
*Improvement in EBITDA and gross profit margins*
The result from core business before depreciation and amortization (EBITDA) in the first half of 2018 was EUR7.7 million (previous year: EUR7.9 million), while the EBITDA margin rose from 6.1% to 6.3%. The restructuring meant in particular that personnel costs were reduced sharply by more 10%; however, marketing and representation costs increased as a result of higher expenditures, especially on new products.
*Revenue by business segment*
Revenue for the Phones business segment in the first half of 2018 was EUR85.8 million (previous year: EUR98.1 million). The calculated decline in revenue is in line with the generally development of the market within the EU-4 region. Although the company succeeded again in strengthening its market position by gaining market share and performing better than the market.
Revenue at the Smartphones segment in the first half of 2018 was EUR5.4 million (previous year: EUR3.7 million), an increase of 45%. Gigaset was able to expand its smartphone portfolio significantly with the GS100, GS180 and GS185 models in May 2018 and expects that to deliver further positive boosts to growth in this segment. Furthermore, the Gigaset GS185 is the first smartphone to be produced in Germany, a unique selling point with which the company aims to leverage new revenue potentials.
Smart Home generated revenue of EUR1.4 million (previous year: EUR1.1 million). Gigaset still believes the market for smart home systems and services has a highly promising future and, since May 2018, has addressed a specific security need with each of its four campaign bundles: protection against fire, water and home intruders, as well as user-friendliness.
In the Professionals segment, Gigaset was able to grow revenue sharply by 12% to EUR28.4 million (previous year: EUR25.4 million). Above all, increased revenue in Germany, France and Italy had a positive impact here. A particular contribution was made to that by the IP-based systems from the N series.
*Outlook remains positive*
Gigaset will continue to focus on the realignment of the company in 2018. This means gaining market share in the Phones segment, expanding revenue in the Professionals segment, further expanding smartphone business, and expanding Smart Home as well as additional new business segments such as Smart Care. Expenses in the area of marketing and for capital expenditures will continue to play a key role in 2018. The Group therefore expects the following for the current fiscal year:
· An increase in revenue compared with 2017 in the high single-digit million range through the smartphone business and the expansion of the new business segments. An increase in revenue in the mid-to-high million range is expected in the Germany segment, declining revenue in the mid-million range in Europe, and an increase in the mid-to-high million range for the rest of the world.
· The company expects earnings of the core business before depreciation and amortization of between EUR20 million and EUR28 million. Operational performance is characterized by further declining gross profits in the Phones segment, rising gross profits in the Smart Home and Professional segments, and an expansion of expenses for development and marketing.
· Due to the considerable investments and subsequent expenditure for the social compensation plan and amounts set aside for risks arising from prior-year tax audits, the company expects a negative free cash flow in the mid-single-digit million range.
*Overview of the key figures*
*EUR million* *Jan. 1 - June 30, 2018* *Jan. 1 - June 30, 2017*
Consolidated revenue 121.0 128.3
Result from core business before depreciation
and amortization (EBITDA) 7.7 7.9
Earnings before interest and taxes (EBIT) 0.9 0.5
Consolidated net loss for the year -0.1 -1.3
Free cash flow -23.1 -24.2
Diluted earnings per share in EUR -0.00 -0.01
*EUR million* *June 30, 2018* *Dec. 31, 2017*
Total assets 210.5 226.9
Cash 30,9 49,1
Consolidated equity 23.6 24.1
Equity ratio (in %) 11.2 10.6
Number of employees 855 930
*Gigaset AG*, Munich, is an internationally operating company in the area of communications technology. The company is Europe's market leader in DECT telephones and is also a leader in the international arena, with around 850 employees and sales activities in 70 countries. Its business activities are divided into the four product segments Phones, Smartphones, Smart Home and Professional, in which not only DECT phones, but also an extensive smartphone portfolio, cloud-based smart home security solutions, and business telephony solutions for small and medium-sized enterprises (SMEs) are created.
Gigaset AG is listed in the Prime Standard of Deutsche Börse and is therefore subject to the highest transparency requirements. Its shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).
Information for investors can be found on our homepage.
--------------------
22.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de --------------------
Language: English
Company: Gigaset AG
Bernhard-Wicki-Straße 5
80636 München
Germany
Phone: +89 444456 - 866
Fax: +89 444456 - 930
E-mail: info@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service Reported by EQS Group 3 hours ago.
↧
