Gerresheimer business recovers in second quarter
The packaging manufacturer Gerresheimer, which produces for the pharmaceutical and cosmetics industry, recovered from a weak start to the year in the second quarter, but its sales and earnings remained below the strong previous year's figures. According to initial calculations, sales shrank in the first half of the year to 1.10 (previous year: 1.14) billion euros and the operating result (Ebitda) adjusted for special effects fell to 168 (224) million euros, as the Düsseldorf-based group announced on Wednesday. The higher demand for systems for administering medicines (drug delivery devices) had a positive effect, while the business with injection vials weakened. The board also said it expects a stronger second half of the year.
There was already a significant improvement in the second quarter compared to the start of the year. “As expected, the second quarter of 2026 was stronger and the adjusted Ebitda is more than 50 percent above the previous quarter,” said CFO Wolf Lehmann. The adjusted Ebitda margin improved to 17.6 percent in the second quarter, five percentage points higher than the first quarter. The company also expects the sale of its US subsidiary Centor to be completed soon. The sales process for the primary plastic packaging business is also progressing as planned.
Hornbach benefits from high demand for air conditioning units
The Hornbach Group had a successful first half of the year thanks to strong demand from do-it-yourselfers. Sales climbed by six percent to 3.8 billion euros in the first six months of the 2026/27 financial year, as the company announced on Tuesday. Operating profit (EBIT) adjusted for special effects increased by almost five percent to 285.6 million euros.
Impulses came from robust customer demand, particularly for seasonal products such as air conditioning units and items for shading and irrigation. According to its own information, Hornbach was able to gain market share in Germany and other European countries.
Lindt cuts sales forecast
The Swiss chocolate manufacturer Lindt & Sprüngli has suffered from the slump in consumption and the hot summer. The board of directors is lowering its sales forecast for 2026: Lindt now expects stagnation or, in the best case, an increase of two percent, as the group announced on Tuesday. The manufacturer of the “Lindor” balls had previously expected an increase of four to six percent. However, the group is sticking to its profit margin target, which is to be improved by 20 to 40 basis points.
Lindt cited consumers' high price sensitivity as one reason for the poor business, which led to lower orders, particularly in seasonal business. Demand was weaker than expected, particularly in Germany, Austria and Switzerland. On the other hand, there was robust growth in markets such as North America and Asia. The board expressed confidence for the coming year. Then, thanks to an adjusted pricing strategy and falling cocoa prices, positive volume growth can be expected again. The group confirmed its medium to long-term goals from 2028.
Shein with a decline in profits and poor growth
The publication of Shein's first quarterly results after the IPO is marked by a slump in profits. Adjusted net income fell by two-thirds to $228 million compared to the same period last year, the Chinese low-cost fashion retailer said in a letter to shareholders on Monday. The reasons for this are drastically increased energy and freight costs. Revenues increased by almost one percent to $11.08 billion.
The online fashion retailer, known for inexpensive clothing and rapidly changing collections, is struggling with growing resistance from various authorities: Shein and other providers such as Temu had circumvented the customs regulations of the European Union (EU) and the USA by shipping directly from the factory to the end customer. The authorities there responded with a minimum tariff or with a lifting of duty-free status for goods below a threshold. In the past three months, European sales were 14 percent below the previous year's value at $3.77 billion.
For the rest of the year, the group, now based in Singapore, warned of continued headwinds from customs regulations and fluctuating freight costs. These burdens would be cushioned through savings. At the same time, the group is hoping for a growth spurt from the upcoming Christmas business.
Südzucker increases profits and specifies annual forecast
After a significant increase in earnings in the second quarter of the 2026/27 financial year, Südzucker has raised its forecast for the full year. The operating profit rose to 168 million euros in the three months from June to August after 93 million euros in the same period last year, as the Mannheim-based group announced on Monday. The main drivers for the improvement were the CropEnergies segments, which benefited from higher ethanol prices, and Specialties, thanks to higher sales volumes.
For the financial year ending February 28, 2027, Südzucker now expects consolidated sales of between 8.3 and 8.7 billion euros, 200 million euros more than before. The SDAX group narrowed the range for operating profit to 540 to 680 million euros from the previous 480 to 680 million euros.
Hellofresh cuts profit target – shares slump
The meal kit mail order company Hellofresh cannot escape the crisis. In view of an expected sharp decline in sales and disappointing development of operating profit in the third quarter, the SDax-listed company is lowering its forecasts for the current year. The management had already appeared more pessimistic in August due to poor business performance, but now boss Dominik Richter had to admit that even that is no longer achievable. The stock fell significantly on Friday.
The paper lost almost 13 percent after the start of trading and hit a record low of 2.21 euros. The share has already lost almost two thirds of its value so far this year. The record high from the times of the Covid pandemic in autumn 2021 of almost 100 euros has long been out of reach.
In terms of sales, Hellofresh now expects a decline of between 9 and 11 percent compared to the previous year, adjusted for currency effects, in 2026. The Berliners had previously assumed that currency-adjusted revenue would fall by a maximum of 6 percent.
Verbio disappoints with profit forecast – shares lose
The biofuel manufacturer Verbio is less confident about the new financial year than the market expected. The company is forecasting an operating result (Ebitda) of between 210 and 250 million euros for the 2026/27 financial year, which began in July, as Verbio announced on Thursday. This would mean that Verbio would exceed the previous year's result. According to LSEG data, analysts had expected an average of 266 million euros. The company's shares lost 2.3 percent in early Frankfurt trading.
Since its peak at the end of March, the stock had lost around a third of its value by the close of trading on Wednesday. In the past 2025/26 financial year, sales rose by almost 20 percent to 1.87 billion euros thanks to higher demand for biofuels and increased sales prices. Operating profit (Ebitda) increased to 193.9 (14.2) million euros. Verbio processes biomass into sustainable fuels and products for chemistry and industry.
H&M beats profit expectations
H&M earned significantly more in the third quarter than analysts expected. Operating profit rose to 6.04 billion Swedish crowns in the three months to the end of August - the equivalent of around 538 million euros. The Bloomberg consensus estimate was 5.27 billion crowns or around 469 million euros.
Sales increased in local currency by one percent to 57.19 billion crowns, around 5.09 billion euros. In addition to higher margins, one-off effects from the reimbursement of US tariffs contributed to the increase in profits. H&M estimated their positive impact on the gross margin at around 1.6 percentage points.
H&M is benefiting from lower inventories, fewer discounts and a more efficient supply chain, but continues to struggle with inconsistent sales growth. The stock had lost more than 10 percent since the beginning of the year.
JD Sports: Profit collapses due to weakness in North America
Poor business in North America is weighing on British sporting goods retailer JD Sports. Adjusted profit before tax fell 19.7 percent to 282 million pounds in the first six months of the financial year, the company said on Wednesday. Sales fell 0.7 percent to 5.9 billion pounds. The group cited weakness in the important North American market as the main reason for the development. Comparable sales there fell by 6.8 percent in the second quarter. JD Sports generates more than a third of its revenue in North America.
KWS earns less operationally - shares slide premarket
The seed manufacturer KWS felt the effects of the tense global agricultural situation in the past financial year. Sales fell by three percent to 1.63 billion euros in 2025/26, as the company announced on Wednesday. Earnings adjusted for special effects fell by more than eight percent to 314 million euros. “Climatic extremes, increasing disease pressure and volatile agricultural markets present farmers with major challenges,” said CEO Felix Büchting, describing the environment. However, due to a positive financial result, profit after taxes rose by more than 13 percent to 158.4 million euros.
Tui expects a slight decline in profits and is curbing its offering
The travel group Tui expects a decline in earnings for the 2025/26 financial year, which runs until the end of September. The adjusted operating result (EBIT) will be between 1.2 and 1.3 billion euros, the company specified its previous forecast on Tuesday. Previously, the range was wider at 1.1 to 1.4 billion euros - the upper end corresponded to the previous year's level. In the core package holiday business, booked sales remained below the previous year. In the summer season that is coming to an end, the decline was five percent, and the upcoming winter season is seven percent less than in the same period last year.
Tui attributed the development to the challenging geopolitical and economic environment. “The trend towards short-term bookings continues,” explained the tourism giant. “In this environment, we continue to manage our capacities carefully and maintain the flexibility to adapt them in line with customer demand.” The average prices were slightly higher - four percent higher per day in hotels and resorts in the final quarter, and two percent higher per day in cruises, which continue to boom.
Volkswagen lowers forecast - shares fall
Europe's largest car manufacturer Volkswagen is lowering its forecast for the current year due to the ongoing market weakness in China, increasing demand for electric cars, a billion-dollar write-off on the sports car subsidiary Porsche and the costs of restructuring the group. When it comes to return on sales, the Wolfsburg-based group now only expects to reach one percent instead of the previously predicted 4.0 to 5.5 percent, as the company announced on Friday. The shares fell by 6.4 percent in late Friday trading, making them the biggest loser in the Dax.
The owner holding company Porsche SE is also reducing its forecast and is now expecting a consolidated result of between minus 0.5 and plus 1.5 billion euros. That is two billion euros less than previously assumed.
Zara parent Inditex increases sales by 9 percent
Zara parent company Inditex got off to a strong start to the autumn season despite the heat wave in Europe. Currency-adjusted sales increased by nine percent in August, as the number one ahead of H&M announced on Wednesday. The autumn/winter collection was “very well received” by customers. In the second quarter, the fast fashion giant had already achieved sales of eleven billion euros from May to July. This was achieved despite high energy prices and poor consumer sentiment. In the first half of the year, Inditex increased its gross profit by 8.3 percent to 11.6 billion euros, the gross margin was 58.7 percent. “These excellent results underline the exceptional capabilities of our teams,” said CEO Oscar Garcia Maceiras. The company operates in “a very complex global environment”.
Inditex is on the road to success: the share price reached a record high of 59.10 euros last month.
Generic drug company Sandoz wants to more than double sales by 2035
The Swiss generic drug manufacturer Sandoz wants to more than double its net sales between 2025 and 2035 and is realigning its focus to achieve this. The new “Bio100” strategy aims to shift the focus from classic generics to biosimilars, the company announced on Tuesday on the occasion of its Capital Markets Day.
Leica sees a decline in sales for the first time in years
The camera manufacturer Leica has recorded a decline in sales for the first time in years in a difficult market environment. In the financial year that ended at the end of March, revenue fell by 3.8 percent to 573 million euros compared to the previous year, as the company in Wetzlar announced.
