Company news and results
Novo Nordisk’s revenues increased by 14% at constant currency in 2021. Operating profit was up 13%. Regarding the supply issues reported last December:
In obesity, we are making progress in resolving the Wegovy® supply issue and we expect to be able to meet demand from people living with obesity in the US in the second half of 2022
2022 outlook:
For the 2022 outlook, sales growth is expected to be 6-10% at CER and operating profit growth is expected to be 4-8% at CER. Sales and operating profit growth reported in Danish kroner is expected to be 5 and 7 percentage points higher than at CER, respectively
Alfa Laval reported an increase in orders of 26% in Q4. Profitability was impacted by higher cost inflation.
Despite high cost inflation, we reached an EBITA margin of 17 percent through higher volumes, operating efficiency and further reduced quality costs. The supply chain was stable in the quarter despite a challenging environment. Delayed deliveries due to component shortages remained on approximately the same level as earlier in the year
Ferrari’s sales increased 23.4% compared to 2021 and were up 13.4% compared to 2019. Margins increased above 2019 levels.
For those of you who can make it, they are hosting a Capital Markets Day in Maranello on June 16:
We recorded double-digit growth across all main financial indicators exceeding our guidance, and an even more exceptional EBITDA margin at a record level of 35.9%. Building on strong momentum, we are eager to seize the opportunities ahead and look forward to sharing our future plans on June 16 in Maranello at our Capital Markets Day
Infineon reported its Q1 results and provided guidance for FY22:
Based on an assumed exchange rate of US$1.15 to the euro (previously US$1.20), revenue of €13.0 billion, plus or minus €500 million, is now forecast for the 2022 fiscal year as a whole
At the mid-point of the guided revenue range, the Segment Result Margin should come in at about 22 percent
Dassault Systèmes expects to grow revenues +9% to +10% in FY22 with operating margin at 32.7% – 33.1%.
Carlsberg’s sales grew by 10% in 2021, organic operating profit by 12.5%. Asia was the fastest-growing region: +15.6% increase in revenues, driven by China and India.
They see organic operating profit growth of 0% to +7% in 2022, due to higher input costs:
2022 will be another challenging year. COVID-19 is expected to continue to impact our markets to various degrees. At the same time, our business will be impacted by substantial increases in input costs, which we aim to offset in absolute terms through higher revenue/hl and continued tight focus on costs. The higher revenue/hl may have a negative impact on beer consumption
Assa Abloy reported an increase in revenues of 10% in Q4. EBIT was up 15%. In FY 2021, organic sales growth was +11% and operating margin 14.9%.
Deals and IPO
Vår Energi's Oslo IPO May Value It at $9B (link)
MeinAuto drives for $1 billion sale after scrapping IPO – sources (link)
Vodafone shares rise on Cevian news, hopes for more deals (link)
Mercedes And Geely May Look To Sell A $1 Billion Stake In Smart (link)
Reckitt Benckiser Weighs Sale of Baby-Food Business ($link)