Europe Movers: Hays, Hugo Boss, Nordex, Ocado Group, THG, Whirlpool

Bridgette Randall
17 Jan, 2023
Frankfurt

Nordex SE closed nearly unchanged at €14.76 after the Germany-based wind turbines maker reported a fall in orders in the fourth quarter and in 2022.  

In the fourth quarter, the company received orders for 386 wind turbine compared to 678 with a total output of 1.9 GW compared to 3.3 GW a year ago. 

The average sales price in euros per megawatt of capacity soared to €0.89 million/MW  compared to €0.74 million/MW a year ago. 

Hugo Boss AG declined 2% to €59.44 after the luxury fashion designer said preliminary sales in the fourth quarter rose 18% to €1.07 billion from €905 million a year ago. 

Hays Plc increased 2.2% to 121.76 pence after the recruiting company reported an increase in its fiscal second quarter fees. 

Net fees in the December quarter increased 11% or rose 8% on a comparable basis, driven by a 25% jump in revenue in Germany. 

The recruitment agency reiterated its operating earnings estimate for the first-half between £95 million and £97 million. 

THG plc plunged 8.7% to 62.50 pence after the online retailer of cosmetics and dietary supplements reported weaker-than-expected full-year sales.

2022 revenue increased 4.1% to £2.25 billion after combined revenue in its beauty and nutrition divisions rose 9.4% from a year ago. 

"A dedicated focus on high-margin categories and relatively low maintenance capital expenditure supports the Group's expectation of being broadly free cash flow neutral in FY 2023, and significantly free cash flow positive in FY 2024," the company said in its trading statement. 

Ocado Group Plc declined 9.2% to 733.0 pence after the online retail platform in partnership with Marks & Spencer estimated sales growth "in mid-single-digits" in 2023. 

 

Whirlpool Sells Europe Business 

Whirlpool Corporation increased 2.2% to $157.70 in New York trading after the household equipment maker said it plans to sell its Europe, Middle East and Africa business and form a partnership with Turkey-based Arcelik AS. 

Whirlpool will contribute its European domestic appliance business, and Arcelik will contribute its domestic appliance, consumer electronics, air conditioning, and small domestic appliance businesses into the newly formed entity. 

Whirlpool will own 25% and Arcelik 75% of the newly formed company and Arcelik will retain full-ownership of its Turkish business.