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CTIL is attracting interest from pension funds including Britain's largest, the Universities Superannuation Scheme (USS), which has started preliminary work on a potential offer, two of the sources said. Telefonica, Liberty Global and USS declined to comment. A number of telecom towers deals in Europe have seen infrastructure investors compete for a slice of the continent’s largest towers networks partly because of their stable cash yield and long-term contracts. Vodafone (VOD.L) owns 50% of CTIL through its Frankfurt-based subsidiary Vantage Towers (VTWRn.DE), and is not planning to cut its holding, the people said. Telefonica and Liberty Global do not plan to ask Vantage Towers to bid for the holding for competitive reasons, according to the sources.

☆ Maersk expects 2023 profits to plummet as volumes, freight rates fall
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Moller-Maersk (MAERSKb.CO) on Wednesday reported fourth-quarter earnings slightly below expectations and forecast a 2023 core profit significantly below last year's as volumes and freight rates fall. The company said in a statement it expected underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) between $8 billion and $11 billion this year, compared with $36.8 billion last year. Underlying EBITDA stood at $6.52 billion in the fourth quarter compared with $7.99 billion a year ago and a 6.95 billion forecast by analysts in a poll gathered by the company. Revenues fell slightly to $17.8 billion in the period as the number of containers it loaded on to ships fell by 14%. Reporting by Jacob Gronholt-Pedersen, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

☆ E.ON tops own 2022 outlook, helped by non-core business
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Feb 7 (Reuters) - E.ON (EONGn.DE), Europe's largest operator of energy networks, likely exceeded its own profit outlook in 2022, the company said on Tuesday, citing a better than expected development at its non-core divisions, which covers nuclear and Turkey. The company, which is due to release full-year results on March 15, expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of around 8 billion euros ($8.6 billion) and adjusted net profit of 2.7 billion. It had forecast adjusted EBITDA of 7.6 billion to 7.8 billion euros and adjusted net profit of 2.3 billion to 2.5 billion euros. ($1 = 0.9326 euros)Reporting by Christoph Steitz, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

As a result, BP reduced its ambitions to cut emissions from fuels sold to customers to 20-30% by 2030, from 35-40%. BP's $4.8 billion fourth-quarter underlying replacement cost profit, its definition of net income, narrowly missed a $5 billion company-provided analyst forecast. The results were impacted by weaker gas trading activity after an "exceptional" third quarter, higher refinery maintenance and lower oil and gas prices. But for the year, BP's $27.6 billion profit exceeded its 2008 record of $26 billion despite a $25 billion writedown of its Russian assets. BP, whose trading operations further boost renewables returns, maintained plans to have 50 gigawatts (GW) of renewable projects under development and 10 GW operating by 2030.

The bumper earnings have prompted new calls to further tax the sector as households struggle to pay their energy bills. In a strategy update, BP said it will increase annual spending by $1 billion for both renewables and oil and gas with a sharper focus on developing low-carbon biofuels and hydrogen. That compared with $4 billion a year earlier and $8.2 billion in the third quarter of 2022. The results were impacted by weaker gas trading activity after an "exceptional" third quarter, higher refinery maintenance and lower oil and gas prices. But for the year, BP's $27.6 billion profit exceeded its previous record of $26 billion in 2008.

The business has been valued at as much as 3 billion pounds ($3.7 billion), according to analysts. "But we do see a pathway whereby, via consolidation, ITV may be able to simultaneously both demonstrate and create value from ITV Studios," they said. ITV built up its Studios production business in the last decade to reduce its reliance on the British advertising market and tap into rising global demand for content. Revenue in the nine months to end-September rose 16% to 1.39 billion pounds ($1.71 billion). That would imply a valuation of about 3 billion pounds, in line with analysts' calculations and nearly as much as ITV's total market value of 3.27 billion pounds.

☆ Signify ups 2023 view on profitability margin, skips sales outlook
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

Jan 27 (Reuters) - Signify (LIGHT.AS), the world's largest lighting maker, said on Friday it expects operating profitability to be in the range of 10.5%-11.5% in 2023, but did not give any outlook on sales, citing volatility in the current macroeconomic environment. Signify had earlier this month cut its full-year forecast for both profit margin and sales growth, citing a steeper-than-expected slowdown in China. The Eindhoven, Netherlands-based company had then forecast margin on earnings before interest, taxes and amortisation (EBITA) of about 10% for both the fourth quarter and the year. Signify, the former lighting arm of Philips, on Friday posted adjusted earnings before interest, taxes and amortisation (EBITA) margin of 10.1% for 2022 and comparable sales growth of 1.2%, in line with the profit warning. Reporting by Diana Mandiá; Editing by Jacqueline Wong and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

[1/2] A trader works at the Frankfurt stock exchange in Frankfurt, Germany, February 22, 2022. REUTERS/Timm Reichert/File PhotoBERLIN/LONDON, Jan 27 (Reuters) - German web hosting firm IONOS is targeting a market capitalisation of up to 3.15 billion euros ($3.42 billion) in Europe's first major initial public offering (IPO) since sports car maker Porsche last September. Subject to regulatory approval of the IPO prospectus, the offer is expected to run from Jan. 30 to Feb. 7. IPO investors are typically offered a discount to a peer group in compensation for the risk of buying a new stock. Montabaur-based IONOS offers web hosting services and cloud applications to consumers and SMEs in countries including the United States, Germany, Britain, France, Spain and Poland.

☆ Italy's Lottomatica eyes IPO as Q4 core profit rises at least 7%
▼ + stars: | 2023-01-25 | by ( Elisa Anzolin | ) www.reuters.com time to read: +2 min

It said preliminary results for 2022 showed that it had collected 22.8 billion euros in bets, with revenue of around 1.4 billion euros and earnings before interest, tax, amortisation and depreciation of 458 million-462 million euros. Pro-forma EBITDA stands at 516 million-520 million euros in 2022 when taking into account the acquisition of Italian remote gaming and betting collection company Betflag, which Lottomatica completed in November. Apollo Global Management entered the Italian gaming business in 2019 when it bought a large stake in Gamenet and proceeded to buy out other investors and delist it the next year. The private equity firm invested a further 950 million euros in the sector the following year when Gamenet acquired IGT's (IGT.N) Italian gaming machine, sports betting and digital gaming businesses. These businesses were housed in two companies dubbed Lottomatica Videolot Rete and Lottomatica Scommesse, with a valuation at the time of around 1.1 billion euros including debt.

☆ Orsted shares slide on 2023 outlook
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

Companies Orsted A/S FollowCOPENHAGEN, Jan 20 (Reuters) - Shares in Danish energy company Orsted (ORSTED.CO) tumbled by more than 7% on Friday after announcing a writedown on a large U.S. offshore wind project and an earnings forecast for 2023 that fell short of analyst estimates. Late on Thursday Orsted, the world's biggest offshore wind farm developer, announced a 2.5 billion Danish crown ($366 million) writedown on its Sunrise Wind project off the coast of New York, citing changes to its earnings projections. Orsted expects 2023 earnings before interest, tax, depreciation and amortisation (EBITDA) excluding new partnerships of 20-23 billion crowns, short of the 24.2 billion crowns expected by analysts in a company-compiled consensus. Shares in Orsted were trading 6.6% down by 0937 GMT. Announcing preliminary results for 2022, the company said it expects EBITDA excluding new partnerships at 21.1 billion crowns.

LONDON, Jan 20 (Reuters) - Spain's markets and competition regulator is reviewing whether gas distributor Madrilena Red de Gas (MRG) has complied with legislation designed to protect the financial strength of energy distributors, according to two sources familiar with the situation. The amendment grew out of worries about the excessive indebtedness of the gas transportation and distribution networks. The CNMC has not to date published a notice of regulatory action concerning MRG. The filings also show that MRG's ultimate parent Elisandra Spain IV - Elisandra Spain V's sole owner - paid dividends totalling more than 104 million euros to its shareholders. At the end of 2021, MRG carried 925.5 million euros of net adjusted financial debt on its balance sheet, 6.55 times its earnings before interest, taxes, depreciation and amortisation (EBITDA), per its latest annual accounts.

☆ France's GTT ceases its activities in Russia
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

Jan 2 (Reuters) - French engineering group Gaztransport & Technigaz (GTT) (GTT.PA) said on Monday it was stopping its activities in Russia after analysing the latest European sanction packages which include a ban on engineering services with Russian firms. Meanwhile, terms of GTT's exit from the Gravity Based Structure (GBS) projects with Saren B.V - a joint-venture between Renaissance Heavy Industries Russia and Saipem's (SPMI.MI) Russian subsidiary - are being finalised. "These elements will have a financial impact mainly from 2023," GTT said in a statement, adding that its order book would no longer include projects in Russia. GTT added that annual targets will exclude revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) generated by the last services in progress in Russia from 2023 onwards. ($1 = 0.9384 euros)Reporting by Dina Kartit, edited by Tomasz Janowski and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Brenntag M&A gambit may prompt its own breakup
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Dec 20 (Reuters Breakingviews) - Chemicals group Brenntag’s (BNRGn.DE) bold dealmaking foray has attracted the attentions of an activist. PrimeStone Capital is calling on the 9 billion euro German group to scrap a potential merger with U.S. peer Univar Solutions (UNVR.N). Brenntag’s other shareholders hardly seem enamoured of the deal: its shares lost some 10% on the day it was announced. The problem is that PrimeStone’s other idea, a breakup of Brenntag, also looks viable. Brenntag meshes together the humdrum business of transporting chemicals with one that serves customers in more specialised sectors like pharmaceuticals and nutrition.

☆ Analysis: European food delivery shapes up with Getir's Gorillas buy
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +6 min

QUICK COMMERCEThe Gorillas acquisition makes Getir Europe's largest quick commerce company. LESS CAPITAL, FEWER COUPONSMore than a dozen smaller European quick commerce companies failed or were acquired since mid-2021. While profits may still be distant for the privately-held quick commerce companies, Europe's listed meal delivery companies have all set formal targets for earnings before interest, taxes, depreciation and amortisation (EBITDA). Shares in the European delivery companies are down around 60% from a year ago, but have traded sideways since June. So to "all the naysayers saying 'quick commerce is over - No.

☆ Strong sugar prices help Tereos offset high production costs
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +2 min

PARIS, Dec 6 (Reuters) - French sugar group Tereos reported strong first-half results on Tuesday, including a net profit and a sharp rise in earnings, as high sugar and ethanol prices helped offset an increase in production costs. Over the same period, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 132% to 464 million euros. In Brazil, where Tereos is among the largest sugar and ethanol producers, the group should benefit from expected high prices and a higher sugarcane crushing volume, at 17.3 million tonnes, up from 15.6 million tonnes in 2021. However, Tereos expects its net debt at March 31, 2023 to be higher than at March 31, 2022 as higher costs led to a rise in working capital. Tereos said in October it would raise the price at which it will buy sugar beet from its members by 40% from last year.

☆ India's Oyo Hotels reports smaller loss in July-Sept vs pior qtr
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

The company reported a net loss of 3.33 billion rupees($40.77 million) in the second quarter of the financial year compared with a loss of 4.14 billion rupees in the first quarter. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the second quarter rose to 560 million rupees from 70 million rupees in the first quarter. The company reported a 24% increase in revenue during the first half of the year, to 29.05 billion rupees. The monthly revenue per hotel, or gross booking value, rose 69% year-on-year to 348,000 rupees. Oyo Hotels first filed to go public in October 2021 but it has delayed the share sale due to market conditions.

☆ Vodacom Tanzania says first half EBITDA down 4% yer-on-year
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

DAR ES SALAAM, Nov 11 (Reuters) - Vodacom Tanzania (VODA.TZ) said on Friday its earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 4% in the first half of the year, hurt by a drop in voice and mobile money transfer revenues. Tanzania's biggest telecoms operator, which is partly owned by South Africa's Vodacom Group Ltd (VODJ.J), said in a statement revenue for the first six months ended September 30 from its M-Pesa financial services operations fell 3% to 169.6 billion shillings ($73 million). Its voice revenues fell 2% to 143.8 billion shillings, while EBITDA fell to 154 billion shillings from 159.6 billion shillings in the same period last year, it said. ($1 = 2,329.0000 Tanzanian shillings)Reporting by Nuzulack Dausen; Editing by George Obulutsa and James Macharia ChegeOur Standards: The Thomson Reuters Trust Principles.

☆ Spain's Sacyr sees motorways fuelling double-digit core profit growth
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Motorways recently completed in several Latin American countries and in Italy, along with three more transport projects that will be ready by 2023, should provide the world's fourth-largest transport concession group with steady cash flow for the next 25 years. Most of Sacyr's concession contracts are tied to inflation and have a mechanism making them less dependent on traffic volumes. The divestment plan would bring additional funds to speed up growth in its concession infrastructure businesses mainly in continental Europe, Britain, Australia and Canada. The CFO ruled out a total exit from the water business as it looks to take advantage of opportunities for new water supply units in Central Europe, the United States and Australia amid widening droughts. ($1 = 0.9707 euros)Reporting by Corina Pons, editing by Andrei Khalip, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Engie upgrades full-year guidance on boost from high power prices
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - French power company Engie (ENGIE.PA) on Thursday raised its full-year net income guidance, as energy prices surged in the wake of Russia's Ukraine invasion, and boosted its earnings at end-September. The company has benefited from the jump in power prices as the Ukraine war highlighted Europe's reliance on Russian gas, which has left the bloc seeking alternative energy sources. Engie's earnings before deducting interest and taxes (EBIT) for the nine months to September 30 came in at 7.3 billion euros ($7.32 billion), up 79.3% organically from a year earlier. Engie also said it expected earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of 13.2 and 14.2 billion euros and EBIT from 8.5 to 9.5 billion. Finance chief, Pierre-Francois Riolacci, said the annual forecast was now including a few hundred million euros in costs relating to a European revenue cap aimed at addressing high power prices for consumers.

☆ RWE posts 72% rise in 9-month profit on higher demand, strong trading
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Companies Rwe Ag FollowFRANKFURT, Nov 10 (Reuters) - RWE (RWEG.DE) on Thursday posted a 72% increase in core profits for the first nine months, boosted by higher demand and prices for power across Europe as well as what it called an unusually strong commodity trading performance. Nine-month adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 4.1 billion euros ($4.14 billion), up from 2.4 billion, Germany's largest power producer said. In its commodity trading division, profits were up 59% due to improvements "with regard to almost all commodities and regions". The group confirmed its 2022 outlook, still expecting adjusted EBITDA of 5 billion to 5.5 billion euros and adjusted net profit of 2.1 billion to 2.6 billion euros. ($1 = 0.9968 euros)Reporting by Christoph Steitz, editing by Kirsti Knolle and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Apart from generating and selling electricity, RWE also operates a large desk that trades in electricity, gas and CO2 certificates as well as other commodities, which can lead to bumper profits in times of significant price swings. "We have a very fundamental understanding of how markets work," Chief Financial Officer Michael Mueller told reporters on Thursday. Stifel Research, keeping a "buy" rating on RWE shares, said trading results were driven by so-called contango, where the futures price of a commodity is higher than spot levels. Nine-month adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 4.1 billion euros ($4.1 billion), up from 2.4 billion a year earlier. Apart from the strong performance in trading, where profits were up 59%, results also benefited from higher electricity wholesale prices for gas and biomass, Mueller said.

☆ Tata Motors falls as core earnings fail to impress
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

Tata Motors posted a narrowed net loss for the July-September quarter and said its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 53% year-over-year. However, brokerage Jefferies said the company's EBITDA came in 14% below its estimate, while Emkay Research and Motilal Oswal also said the number missed their estimates. "Tata Motors' performance was an all-around miss," Motilal Oswal analyst Jinesh Gandhi wrote in a note. Tata Motors stock was last down 4.4% at 414.25 rupees and was the biggest loser on India's benchmark Nifty 50 index (.NSEI), which is down 0.7%. Through the last close, Tata Motors shares had shed a tenth of their value, while the Nifty 50 index had gained around 4%.

☆ Advertising technology firm Perion Q3 profit jumps, adjusts 2022 estimates
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, Nov 9 (Reuters) - Advertising technology firm Perion Network (PERI.TA), reported on Wednesday a 53% rise in quarterly profit as advertisers continue to shift to new ways of targeting customers. The Israel-based company earned 61 cents per diluted share excluding one-time items in the third quarter, up from 40 cents a share a year earlier. The company was forecast to earn 44 cents a share excluding items on revenue of $158 million, according to I/B/E/S data from Refinitiv. Perion narrowed its 2022 outlook to $630 million-$635 million from $620 million-$640 million for annual growth of 32%. It also lifted its estimate for 2022 adjusted earnings before interest, taxes, depreciation and amortisation to more than $120 million from at least $102 million.

☆ Telecom Italia profit falls, net debt rises
▼ + stars: | 2022-11-09 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

Italy's biggest phone company on Wednesday said earnings after interest, tax, depreciation, amortisation and lease (EBITDA-AL) were 1.31 billion euros in July-September. That is in line with an analyst consensus provided by the company and down from 1.48 billion euros a year ago. Revenue in Italy, where the former phone monopoly makes the bulk of its turnover, fell by 5.3% to 2.92 billion euros, also matching expectations. As a consequence, it wrote off deferred tax assets for a net 1.96 billion euros. Adjusted net debt was up 15% year-on-year to 25.5 billion euros at the end of September.

☆ Spain's Iberdrola to invest $47 bln in energy transition in 2023-25
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +4 min

Some 17 billion euros of the 47 billion total investment will go on renewables. In its last strategy update, Iberdrola said it planned to invest 75 billion euros in renewable energy, grids and retail operations from 2020-2025. Iberdrola currently has 40 GW of renewables capacity, new chief executive Armando Martinez told the compay's capital markets day in London. Net profit should increase to 5.2-5.4 billion euros by 2025 from an expected 4-4.2 billion euros in 2022, Iberdrola said. It also aims for earnings before interest, taxes depreciation and amortisation (EBITDA) of 16.5 billion-17 billion euros by 2025, up from 13 billion euros in 2022 and above analyst consensus of 12.6 billion euros.

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