Company news and results
Ryanair’s traffic improved in the first half of their fiscal year (April - September) as travel restrictions eased in Europe.
They still expect to report a loss this year:
…visibility for the remainder of FY22 is very limited. It is therefore difficult to provide meaningful FY22 guidance. We believe that FY22 traffic has improved to just over 100m and (subject to winter fares) expect to record an FY22 loss of between €100m to €200m. This outturn will be crucially dependent on the continued rollout of vaccines and no adverse Covid19 developments
Pandora, the world's largest jewellery company by sales, reported +9% organic growth vs Q3 2019.
Full year guidance was upgraded:
…to “organic growth of 18-20%” (previously 16-18%) and EBIT margin of “24.0-24.5%” (previously 23-24%)
HelloFresh, the meal-kit company, reported a +45% increase in sales in the third quarter, on a constant currency basis. They reached almost 7mil active customers.
They increased the revenue outlook as:
Key Revenue driving KPIs continue to perform ahead of pre-pandemic trading
Ferrari increased revenues to over €1 billion in the third quarter, +15.1% versus Q3 2019. EBIT margin was 25.7%.
Guidance was upgraded. Their CEO commented:
The strong third quarter results are an important step forward towards the upward revised 2021 guidance. The exceptional client relationships, fundamental in achieving the double digit growth in this quarter and year to date, are reflected in the record order intake worldwide, particularly in China and USA. These results together with the soundness of our vision and the team I am honoured to lead, make me look to the future with great confidence and optimism
Zalando increased revenues by 23.4% in the third quarter, to €2.3 billion. GMV was up +25.3%. They confirmed the full year 2021 guidance:
Zalando continues to anticipate GMV growth between 31% and 36% and revenue growth between 26% and 31% for 2021. Based on an outstanding topline performance and continued return rate benefits in the first half of this year, the company expects adjusted EBIT in the upper half of our guided range of EUR 400.0m to EUR 475.0m
Novo Nordisk reported a +13% increase in sales in the first 9 months of the year. Guidance was increased last week, with both sales and operating profit growth expected to be 12-15%, at constant currencies.
We are very pleased with the sales growth in the first nine months of 2021 which has enabled us to raise our outlook for the full year. The growth is driven by all geographical areas and by all therapy areas, in particular by accelerated growth of our portfolio of GLP-1 treatments for diabetes and obesity. In the US, the initial demand for Wegovy™ has significantly exceeded our expectations, underscoring the high unmet need for people living with obesity. With the initiation of two phase 3 programmes in the third quarter, we continue to expand our latestage clinical pipeline
Siemens Healthineers reported a +14.4% increase in revenues in the last quarter of their fiscal year. They expect revenue to growth between 5% and 7% in full year 2022, excluding revenue from rapid COVID-19 antigen tests.
Euronext reported a +10.2% like-for-like increase in revenues in the third quarter of the year, with EBITDA margin of 60.4%.
Deals and IPO
Novartis cuts uneasy 20-year ties to Roche with $20.7 bln voting stake sale (link)
French energy group Engie retains Bouygues' bid to buy services unit (link)
Poland's Allegro buys Czech online retailer Mall for $1 bln (link)