Money Buzz! Europa

Category: Business

  • Enel X has entered Singapore’s demand response market

    Enel X has entered Singapore’s demand response market

    Enel X has entered Singapore’s demand response market. Enel X’s virtual power plant will support the National Electricity Market of Singapore (NEMS), with the aim to improve overall system security and efficiency.

    Enel X in Singapore will work with global and local commercial as well as industrial businesses in order to provide demand response services to the grid.

    Virtual power plant participation in Singapore is increasingly important as demand for energy grows, particularly with the emergence and development of electricity-intensive sectors, such as data centers.

    In addition to industrial gas producers and data centers, industries well suited to participate include technology companies, cold storage units, food processing and manufacturing facilities, water utilities as well as commercial buildings.

  • Nagarro will commence trading on the Frankfurt Stock Exchange

    Nagarro will commence trading on the Frankfurt Stock Exchange

    Nagarro’s common shares will begin trading today on the Frankfurt Stock Exchange (Prime Standard) under the symbol ”NA9”.

    Under the terms of the spin-off from Allgeier SE, one share of Nagarro SE for every one share of Allgeier SE has been allotted to the Allgeier shareholders.

    Nagarro is a global digital engineering company with over 8,400 employees in 25 countries across North America, Asia and Europe.

    The company offers a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, enterprise resource planning (”ERP”) consulting and other services.

  • Innobyte to end 2020 with a turnover of 1.75 million euros

    Innobyte to end 2020 with a turnover of 1.75 million euros

    Innobyte, a Romanian software development company specialized in eCommerce, will end 2020 with a turnover of 1.75 million euros, a 50% increase compared to the previous year.

    With revenue growth, Innobyte has also significantly optimized its profit performance.

    The company’s estimates for EBITDA at the end of the year show a result of 400,000 euros – the highest recorded by the company in the last 5 years.

    2020, context and market behavior

    eCommerce has been, for many businesses, the only sales channel that has not suffered directly amid restrictions imposed in the pandemic context.

    Many companies entered the online sales segment in 2020, but even more sought to strengthen their position and accelerate their growth in order to compensate for the slowdown in the offline.

    ”The first quarter began with a period of uncertainty in the unpredictable economic context. Since April, however, we have registered an exponential increase in the demand for services, whether we are talking about startups or customers with an already consolidated position online”, says Cătălin Bordei, Innobyte Managing Partner.

    The online platforms and stores developed by Innobyte locally process tens of thousands of orders per month and generate sales of over 100 million euros.

  • Inditex at €866 million net profit in the third quarter of 2020

    Inditex at €866 million net profit in the third quarter of 2020

    Inditex reported sales of €14.1 billion in the first nine months of its fiscal 2020 (1 February to 31 October), compared to €19.8 billion the same period in fiscal year 19.

    The third quarter (1 August to 31 October) registered the evident sales improvement shown since March, with sales of €6.1 billion, compared to €7 billion in 3Q19, a year-on-year decline of 14% (10% in constant currencies) after reductions of 31% in 2Q20 and 44% in 1Q20.

    During the third quarter, 5% of the group’s stores remained closed and 88% continued to face significant limitations in terms of space, trading hours or capacity.

    Against that backdrop, sales in local currencies between 1 and 18 October reached the record levels recorded in the same period of 2019.

    In November, as second waves of Covid-19 hit many countries, 21% of Inditex’s stores were forced to close; as of today, 8% remain temporarily closed, with another 10% required to close at the weekend.

    Online sales have remained very strong throughout, registering a growth of 75% in constant currencies in 9M20 and 76% in 3Q20.

    Net profit for the first nine months of 2020 amounted to €671 million. In the third quarter alone, the Group recorded a net profit of €866 million.

  • More than 70,000 businesses have closed due to the pandemic in Italy

    More than 70,000 businesses have closed due to the pandemic in Italy

    Almost 73,000 businesses in Italy were closed due to coronavirus pandemic, revealed a study by National Statistics Agency, DPA reports.

    This figure represents about 7% of the total of 1 million businesses included in the study conducted in late October and early November.

    About 55,000 businesses would resume operations in the future, while 17,500, of which 5,000 in the restaurant business, were permanently shut down.

    Another 700,000 continued to operate normally and 244,000 partially.

    The Istat study also found that 85% of closed businesses were small businesses with less than nine employees, usually sports centers, small hotels, shops and bookmakers.

  • 10 most valuable companies worth 12% of Global GDP in 2020

    10 most valuable companies worth 12% of Global GDP in 2020

    Data presented by Bankr indicates that the top ten most valuable companies based on market capitalization are cumulatively worth $10.06 trillion.

    The cumulative value represents about 11.93% of the $84.27 Covid-19 adjusted 2020 global GDP.

    Apple is the most valuable company with a market capitalization of $2.09 trillion or 2.48% of the global GDP.

    Microsoft Corporation is the second most valuable entity at $1.59 trillion in market capitalization.

    E-commerce giant Amazon is the third most valuable company at $1.55 trillion, followed by Alphabet at $1.22 trillion.

    Social media firm Facebook is the fifth most valuable company at $0.79 trillion.

    Alibaba Group ranked sixth with a market cap of $0.72 trillion, followed by Tesla at $0.59 trillion.

    Berkshire Hathaway ranks in the eight spots with a valuation of $0.55 trillion, followed by Visa at $0.49 trillion.

    Taiwan Semiconductor Manufacturing Company Limited is the tenth most valuable company with a market capitalization of $0.47 trillion.

  • ENGIE signed several energy offtake contracts with Amazon

    ENGIE signed several energy offtake contracts with Amazon

    ENGIE announces several energy offtake contracts with Amazon for a global renewable energy portfolio of wind and solar projects across the United States, Italy and France totaling 650 MW.

    These projects align with Amazon’s goal to power its operations with 100% renewable energy by 2030 and reach net zero carbon by 2040.

    In 2019, ENGIE was the main global seller of clean energy Corporate PPAs and signed over 2,000 MW mostly in the US but also in Europe, notably in Spain.

    Amazon’s new renewable energy solar and wind projects with ENGIE represent 569 MW in Delaware, Kansas, North Carolina, Ohio and Virginia.

    They will supply Amazon with approximately 1,850 GWh of power and with the associated project renewable energy credits (REC’s) annually.

    During construction, ENGIE will create approximately 300 jobs at each wind facility and 210 jobs at each solar facility. Projects are expected to reach commercial operation in 2021 through 2022.

    In Europe, Amazon’s total contracts with ENGIE add up to 66 MW in Italy and 15 MW in France, and are the company’s first utility-scale renewable energy projects in each country.

    Amazon will purchase renewable energy from two solar facilities located in Southern Italy and another in Southern France to power its European operations.  

  • Autodoc sales rose to over 600 million euros in the first three quarters

    Autodoc sales rose to over 600 million euros in the first three quarters

    Autodoc saw its sales rise to over 600 million euros in the first three quarters of the year. This is an increase of around 40% compared to the same period last year.

    In 2019, the company’s revenue between January and September amounted to a total of 434 million euros.

    Autodoc’s chief executive Alexej Erdle has stated that he firmly believes the company will achieve the announced sales target of 800 million euros by the end of the year – up from 615 million euros in 2019.

    The company shown particularly strong growth in its core markets of Germany and France during the fiscal year 2020, with sales rising by well over 50% in the two countries.

    Autodoc achieved even more substantial gains in Great Britain, where sales increased by over 80%.

    The company’s own brands, Stark and Ridex, also contributed to the above-average business development with sales growth of 65% compared to the same period last year.

    The spare parts aftermarket is also likely to benefit from the continued reluctance to buy new cars. In Germany, for instance, the average age of the vehicle fleet in 2020 has increased by 0.1 to 9.6 years, according to the Federal Motor Transport Authority (KBA).

  • Comarch revenues at PLN 1.06 billion after the Third Quarter of 2020

    Comarch revenues at PLN 1.06 billion after the Third Quarter of 2020

    Comarch generated PLN 1.06 billion in revenue in the first nine months of 2020, an increase of PLN 41.5 million compared to the same period of 2019.

    Operating profit has also increased. Its value was PLN 117.9 million, 5.5 million more than last year.

    EBITDA profit amounted to PLN 182.8 million, PLN 6.7 million higher than in the corresponding period of the previous year.

    The net profit attributable to shareholders of the parent company was lower than a year ago by PLN 2.7 million and amounted to PLN 67 million.

    During the three quarters of 2020, Comarch also increased employment by 277 people.

    At the end of September this year, it employed 6 625 people, including 627 abroad.

    In Q3 2020 alone, Comarch sold products and services with a value of PLN 353.7 million, very similar to that achieved in Q3 of the previous year.

    The operating profit reached PLN 46.1 million and was PLN 20.1 million lower than in the corresponding period in 2019.

  • Ryanair orders another 75 Boeing Max-8200 aircraft

    Ryanair orders another 75 Boeing Max-8200 aircraft

    Ryanair signed a purchase agreement with Boeing for 75 new MAX-8200 aircraft, which increases its firm order for the Boeing aircraft from 135 to 210, with a total value of over $22bn.

    Ryanair expects to take the first deliveries of these new aircraft from early 2021. These will be delivered over a 4-year period between spring 2021 and December 2024.

    Ryanair, which (prior to the Covid-19 crisis) was on track to carry over 150m passengers last year, will use these new aircraft to grow its services into new EU countries and markets.

    Ryanair and Boeing have agreed revised delivery dates, and have also agreed compensation for the direct costs incurred by Ryanair over the past 18 months due to delivery delays.

    The Boeing 737 MAX-8200 aircraft will be the most audited, most regulated in aviation history.

    This new 197 seat aircraft delivers 8 more seats per flight, yet burns 16% less fuel, and lowers noise emissions by 40%.

  • World’s 10 richest fortune soars by 56% to $1.1 trillion this year

    World’s 10 richest fortune soars by 56% to $1.1 trillion this year

    Data presented by Buy Shares indicates that the wealth of the top ten world’s richest people has grown by 56.8% to $1.14 trillion between March 13 and December 1, 2020.

    The additional wealth was acquired amid the coronavirus pandemic.

    Amazon founder Jeff Bezos is the world’s richest person with a fortune of $185 billion as of December 1. Amid the pandemic, his wealth has grown by 66.66% from March 13th.

    France-based Bernard Arnault, the second richest person in the world saw his fortune grow by 103.9% from March’s $69.2 billion to $141.1 billion.

    Tesla CEO Elon Musk is the biggest gainer by a staggering 422.76% in wealth to $128.60 billion. Microsoft founder Bill Gates is the fourth richest person in the world and his wealth has soared by 16.47% to $118.8 billion.

    Elsewhere, Facebook founder Mark Zuckerberg, the fifth richest person in the world has a fortune of $101.7 billion. The wealth grew by 55.74%.

    Berkshire Hathaway CEO Warren Buffet saw his wealth grow by 13.96% to $86.5 billion.

    Oracle chairperson, Larry Elisson’s wealth grew by 45.28% to $78.6 billion. Google co-founder Larry Page’s wealth has grown by 31.4% to $77.40 billion. Businessman Amancio Ortega’s wealth grew by 46.93% to $76.70 billion.

    Sergey Brin’s wealth has soared to $75.2 billion, a growth of 31.69%. Lastly, Steve Ballmer’s wealth has grown by 25.25% to $72.90 billion.

  • Austrian Post revenues fell to EUR 883.3m in the first nine months of 2020

    Austrian Post revenues fell to EUR 883.3m in the first nine months of 2020

    Austrian Post Mail Division improved after reaching its lowest point in the second quarter. On balance, revenue fell by 9.0 % to EUR 883.3m in the first nine months 2020.

    Following the lockdown-related loss in Letter Mail and Direct Mail items mostly in April 2020, the volatility and uncertainty have increased in the third quarter, with the volume of addressed mail items remaining below the long-term trend in particular.
     
    The Parcel & Logistics Division reported a revenue increase of 31.9 % to EUR 576.6m in the first nine months of 2020.
     
    Earnings of the Mail Division fell by EUR 22m in contrast to the EUR 11m increase in the Parcel & Logistics Division in the first three quarters of 2020.

    In total, EBIT of the logistics business (excl. Retail & Bank Division) was down by 10.0 % to EUR 118.7m in the first three quarters of 2020.

    Austrian Post launched its own banking service

    The new bank99 has been operating on the market since April 2020 and is developing a focused offering of financial services.

    The bank has already succeeded in attracting more than 54,000 customers until the end of October 2020.

    The Retail & Bank Division achieved a negative result of EUR 37.3m due to the start-up costs of bank99 and the impact related to COVID-19.