Klockner Q3 Operating Income Rises, But Cuts FY EBITDA Outlook; To Reduce Jobs

Klockner & Co SE (KCO), a German steel maker, reported an operating income (EBITDA) before material special effects of 41 million euros in the third quarter 2023, which is at the lower end of the forecast range of 40 million euros – 80 million euros, but considerably above the prior year’s 16 million euros. The result was driven by the continued positive development in North America and Switzerland.

The company noted that it will announce the additional figures for the third quarter 2023 on October 31, 2023.

The company cut its fiscal year 2023 EBITDA, before material special effects, outlook to a range of 170 million euros – 200 million euros from the previous forecast of 220 million euros – 280 million euros, due to the ongoing challenging macroeconomic environment, specially in Europe.

A strong and significantly positive cash flow from operating activities is still expected for the full year 2023.

The company said it has initiated an efficiency program with a planned reduction in the number of employees in the European distribution business by 10% with implementation starting in the fourth quarter of 2023.

The company aims to achieve a recurring annual improvement in operating income (EBITDA) before material special effects by around 25 million euros by as early as 2024.

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Samsung Q3 Profit Down; Expects Memory Chip Market Conditions To Recover In 2024

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) reported that its third quarter net income attributable to shareholders of parent company declined to 39.84% to 5.50 trillion Korean won from 9.14 trillion won last year.

While macroeconomic uncertainties are likely to persist, the company expects memory chip market conditions to recover in 2024.

The Memory Business plans to expand sales of HBM3 products and will address growing demand for new interfaces while increasing the portion of advanced nodes. System semiconductors are expected to post improved results on the back of new products for mobile customers.

Samsung Display Corporation expects to maintain strong performance in the mobile panel business, driven by robust demand for premium OLED panels for smartphones.

Looking ahead to 2024, PC and mobile demand is likely to benefit from the arrival of some replacement cycles for products sold during the initial phase of the pandemic.

Samsung’s operating profit for the third quarter also dropped 77.57% to 2.43 trillion won from the previous year.

Sales for the third quarter was 67.40 trillion won, a 12.21% decrease from the previous year.

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JT Group Q3 Profit Rises; Core Revenue At Constant FX Up 4.4%

The JT Group (JAPAF.PK,JAPAY.PK) reported that its third quarter profit was 155.0 billion yen, up 10.9% from last year. Adjusted operating profit was 221.5 billion yen, down 0.6%. Adjusted operating profit at constant FX was 241.2 billion yen, up 8.2%. Revenue was 764.2 billion yen, up 3.0%. Core revenue at constant FX was 746.8 billion yen, an increase of 4.4%.

For the nine month period, profit increased by 9.5% to 442.0 billion yen. Adjusted operating profit at constant FX increased by 5.9% to 675.5 billion yen. Revenue increased by 7.4% to 2.16 trillion yen. Core revenue at constant FX increased by 5.9% to 2.05 trillion yen.

For 2023, revenue forecast is revised upward by 85.0 billion yen, while core revenue at constant FX is revised upward by 63.0 billion yen. Adjusted operating profit at constant FX is revised upward by 34.0 billion yen, while profit guidance increased by 7.0 billion yen.

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Thales Group 9-month Sales Up 4.5%; Confirms FY Outlook – Quick Facts

Thales Group (THLEF.PK), a French technology firm, reported that its sales for the first nine months of 2023 were 12.9 billion euros, up 4.5% from the prior year. Sales for the period were up 7.5% on an organic basis.

Order intake for the period was 12.4 billion euros, down 18% on an organic basis.

Looking ahead, the company still expects its full-year 2023 EBIT margin to be in the range of 11.5 percent to 11.8 percent.

The company still projects annual organic sales growth to be between 5 percent and 7 percent, corresponding to sales in the range of 17.9 billion euros to 18.2 billion euros, for the year.

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Scancell Holdings FY23 Loss Widens; Says Confident To Meet Near-term Clinical Milestones

Scancell Holdings plc (AIM: SCLP), a clinical stage biopharmaceutical company, reported Tuesday that its fiscal 2023 loss before taxation amounted to 14.2 million pounds, wider than last year’s restated loss of 6.3 million pounds.

Loss per share was 1.50 pence, wider than loss of 0.56 pence a year ago.

Operating loss for the 12-month period was 11.9 million pounds, compared to prior year’s operating loss of 13.3 million pounds.

The company recorded revenue from the licencing deal with Genmab of 5.3 million pounds, which reduced the operating loss significantly.

Looking ahead, the Company said it is confident to achieve near-term clinical milestones, citing the significant clinical and commercial milestones achieved in the period, positive early efficacy data, and with sufficient resources to fund current strategy.

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Ametek Inc. Q3 Profit Increases, beats estimates

Ametek Inc. (AME) announced earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $340.37 million, or $1.47 per share. This compares with $297.64 million, or $1.29 per share, in last year’s third quarter.

Excluding items, Ametek Inc. reported adjusted earnings of $1.64 per share for the period.

Analysts on average had expected the company to earn $1.58 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.5% to $1.62 billion from $1.55 billion last year.

Ametek Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $340.37 Mln. vs. $297.64 Mln. last year.
-EPS (Q3): $1.47 vs. $1.29 last year.
-Analyst Estimate: $1.58
-Revenue (Q3): $1.62 Bln vs. $1.55 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.61 to $1.63
Full year EPS guidance: $6.31 to $6.33