Stora Enso Q2 Profit Rises

Stora Enso (SEOAY.PK), a Finnish pulp and paper manufacturer, reported that its second quarter profit attributable to owners of the parent rose to 303 million euros or 0.38 euros per share from 206 million euros or 0.26 euros per share last year.

Earnings per share, excluding fair valuations, was 0.42 euros compared to 0.27 euros last year.

Sales for the second quarter increased 18% to 3.05 billion euros from 2.59 billion euros in the previous year. Sales, excluding Paper, increased 21%.

The company said its full year 2022 guidance remains unchanged from the updated guidance communicated in June 2022.

On 13 June, Stora Enso raised its guidance for the full year 2022 operational EBIT due to sustained strong market conditions. Stora Enso’s full-year 2022 operational EBIT is estimated to be higher than last year’s operational EBIT of 1.53 billion euros.

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Lonza Group H1 Profit Surges

Lonza Group (LZAGF.PK), a Swiss healthcare firm, on Friday posted a surge in profit for the first half, reflecting increased revenues and a decline in operating expenses.

For the six-month period to June 30, the company registered a profit of CHF 494 million or CHF 6.67 per share, compared with CHF 321 million or CHF 3.50 per share, reported a year ago.

Profit before income taxes was at CHF 594 million, a jump from CHF 296 million from last year.

The Basel-headquartered drug maker’s result from operating activities or EBIT surged to CHF 645 million, from CHF 317 million, reported for first six-month period of 2021.

Operating expenses were at CHF 551 million, less than CHF726 million recorded a year ago.

Lonza’s first half sales were registered at CHF 2.982 billion, compared with CHF 2.542 billion during the corresponding period of previous year.

Norsk Hydro Q2 Profit Climbs – Quick Facts

Norwegian energy and aluminum company Norsk Hydro (NHY,NHYDY.PK,NHYDY.PK) reported that its second quarter net income attributable to shareholders climbed to 11.28 billion Norwegian Kroner or 5.49 Kroner per share from 2.59 billion Kroner or 1.26 Kroner per share in the previous year.

The latest-quarter result included a net foreign exchange loss of 1.129 billion Kroner, a 988 million Kroner unrealized loss on power and raw material contracts and a 6.697 billion Kroner unrealized gain on LME related contracts.

“… The results are backed by strong markets, continued high demand for our greener aluminium products and our ambitious 2025 improvement program, which remains on track,” said President and CEO, Hilde Merete Aasheim.

Total revenue and income for the second quarter grew to 66.07 billion Kroner from 35.34 billion Kroner in the prior year.

The company said its board has proposed an additional shareholder distribution. This consists of an additional cash dividend of 3 billion Kroner and an introduction of a share buyback program of up to 2 billion Kroner.

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Sika AG H1 Profit Climbs, Confirms FY22, FY23 Targets – Quick Facts

Swiss specialty chemical company Sika AG (SXYAY.PK,SKFOF.PK) reported Friday that its first-half net profit after taxes grew 21 percent to 598.8 million Swiss francs from last year’s 494.7 million francs.

Earnings per share were 3.76 francs, up 20.5 percent from 3.12 francs a year ago.

Operating profit or EBIT grew 22.7 percent to 841.9 million francs. EBIT margin was 16 percent. Operating profit before depreciation or EBITDA grew 19.5 percent to 1.04 billion francs.

The first-half net sales were at 5.25 billion francs, a growth of 18 percent from 4.45 billion francs last year. Sales went up 19.5 percent in local currencies.

Looking ahead for fiscal 2022, Sika continues to expect sales to rise by well over 10 percent in local currencies – surpassing 10 billion francs for the first time – and is anticipating an over-proportional increase in EBIT.

Further, Sika confirmed its 2023 strategic targets, with focus remaining on long-term success and profitable growth. Sika is seeking to grow by 6 percent-8 percent per year in local currencies up to 2023. Since 2021, the company is aiming to record an EBIT margin in the range of 15 percent-18 percent.

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Stephen Colbert Goes Live After Thursday’s Jan. 6 Hearing

“Yes, he is a stain on our history, and thanks to these hearings, we know that stain is ketchup,” Stephen Colbert said of Donald Trump.

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By Trish Bendix

Trump’s First Wife Ivana Dies

Ivana Trump, the first wife of former President Donald Trump and the mother of three of his children, has died.

73-year-old Ivana was found dead near a staircase at her New York City home, Thursday afternoon, police said.

Reports quoting the Medical Examiner’s office said the cause of death is yet to be determined. The New York Police Department said it does not suspect ” any criminality” in Ivana’s death.

The news of his ex-wife’s death was shared by Trump in a statement posted on Truth Social, a social media platform created by Trump Media & Technology Group.

He described her as “a wonderful, beautiful, and amazing woman, who led a great and inspirational life.”

Trump was Ivana’s second husband, and three children were born in that relationship – Donald Jr, Ivanka and Eric Trump.

Ivana, who was of Czech origin, married Trump in 1977. They divorced 15 years later following Trump’s affair with actress Marla Maples, attracting intense public interest.

Trump and Maples got married in 1993 and divorced in 1999. They have one daughter, Tiffany. In 2005, Trump married Slovenian model Melania Knauss, who later became the United States’ First Lady.

A successful businessperson, Ivana was running her own lines of beauty products, clothing and jewelry for long.

In her memoir published in 2017, ‘Raising Trump’, Ivana took credit for bringing up her three children with Trump.