Europe Movers: Randstad, Siltronic, TUI, Thyssenkrupp Nucera

Inga Muller
13 Feb, 2024
Frankfurt

Market indexes in Europe held steady, and investors reviewed the inflation update in Switzerland and jobless data from the UK and France. 

The DAX index decreased 0.6% to 16,928.84, the CAC-40 index fell 0.3% to 7,664.90, and the FTSE 100 index inched lower by 0.1% to 7,564.79.

The yield on 10-year German bonds edged down to 2.35%; French bonds inched higher to 2.85%; the UK gilts edged higher to 4.07%; and Italian bonds inched higher to 3.90%.

TUI AG increased 2.7% to €7.03 after the tour operator reported a narrower loss in the fiscal first quarter and the company reiterated its annual outlook. 

Higher demand for tour packages and improved prices and rates also helped the company cut its losses. 

Revenue in the fiscal first quarter ending in December increased by 14.7% to €4.3 billion from €3.7 billion. group's loss shrank to €83.5 million from  231.8 million, and loss per share decreased to 24 cents from 89 cents a year ago. 

During the quarter, the customer count increased by 6% to 3.5 million, and the average load factor increased by 1 percentage point to 86%. 

The company estimated fiscal year 2024 sales to increase by 10% and underlying operating earnings to increase at least by 25%. 

At the end of the quarter, net debt declined by 24% to €3.98 billion from €5.25 billion a year ago. 

Thyssenkrupp Nucera increased 5.9% to €15.82 after the hydrogen company said its fiscal first quarter revenue increased by more than a third because of the rising demand for its electrolyser technology. 

Randstad NV added 1.3% to €53.96 after the Dutch staffing company said it plans to return €632 million to shareholders, comprising of €2.28 in regular dividend and €1.27 in special dividend. 

Organic revenue in the fourth quarter of 2023 declined 8.6%, with underlying operating earnings of €265 million, and cash flow increased 19% to €883 million. 

Siltronic AG declined 7.9% to €84.95 after the German silicon wafer maker reported a weak sales outlook and lowered its dividend payout. 

The German semiconductor company estimated sales in the current year to match €1.51 billion in 2023, a decline of 16% from €1.8 billion in 2022. 

The company blamed the sales growth weakness on the high level of customer inventories and estimated first-half sales to match sales in the second-half of 2023. 

Moreover, the company also lowered its 2023 dividend payout to €1.20 from €3.0 in the previous year. 

The company also announced its plan to cut its capital expenditures by more than half.