By Mauro Orru
This week, more European companies issued new guidance for 2020,
while others revised expectations in the wake of the coronavirus
pandemic compared with last week. However, several companies are
still skeptical when it comes to specific targets as many European
countries experience a resurgence of coronavirus outbreaks.
Below is a round-up of outlook statements from the past
--AMRYT PHARMA PLC: The Dublin-based, London-listed
biopharmaceutical company expects to make revenue of $170
million-$175 million in 2020. This would be up from $154.1 million
--COMMERZBANK AG: The German bank expects to post a loss this
year "in light of the expected risk result and potential
restructuring charges." Risks provisions should be in a range of
1.3 billion and 1.5 billion euros ($1.54 billion-$1.78 billion) in
2020, while the cost base should fall slightly from last year.
--DEUTSCHE LUFTHANSA AG: The German airline expects to book an
adjusted earnings before interest and taxes loss in its second half
and therefore sees a further significant decline in adjusted EBIT
for the year.
--RHEINMETALL AG: The German defense company expects defense
sales to grow by 6% to 7% for the year compared with a previous
range of 5% and 7%, while its operating margin for the sector
should come in around 10%. Rheinmetall said it can't give a precise
forecast for the automotive sector due to persistent
--SIEMENS HEALTHINEERS AG: The German medical-equipment maker
now expects revenue growth to be broadly flat on a comparable basis
during its fiscal year, while adjusted basic earnings per share
should come between EUR1.54 and EUR1.62.
--BAYER AG: The German pharmaceutical and chemical conglomerate
lowered its outlook for the year due to the coronavirus pandemic.
It now expects sales to be between EUR43 billion and EUR44 billion,
and earnings before interest, taxes, depreciation and amortization
before special items of around EUR12.1 billion, both on a
--PIRELLI & C. SpA: The Italian tire maker slightly lowered
its 2020 outlook, projecting revenue in a range of about EUR4.15
billion and EUR4.25 billion, from previous estimates of around
EUR4.3 billion to EUR4.4 billion, citing greater exchange-rate
volatility. The company also expects a 2020 adjusted EBIT margin of
around 12%-13%, down from previous estimates of around 14%-15%.
--SOCIETE GENERALE SA: France's third-largest listed bank by
assets expects cost of risk for the year to be at the bottom of its
70 to 100 basis points guidance.
--FERRARI NV: The Italian sports-car maker backed its guidance
for 2020, narrowing it within the previous range to reflect better
visibility. It said it now expects revenue for the year to be
greater than EUR3.4 billion, adjusted Ebitda to be EUR1.075
billion-EUR1.125 billion and adjusted EBIT of between EUR650
million and EUR700 million.
--INTESA SANPAOLO SpA: The Italian bank expects net income of at
least EUR3 billion in 2020 and at least EUR3.5 billion in 2021.
--MERCK KGaA: The German pharmaceuticals and chemicals company
backed the outlook it had previously given for 2020, assuming that
its business will be affected by the pandemic "to varying degrees,"
it said. The company guided for a slight increase in net sales to a
range between EUR16.9 billion and EUR17.7 billion. It expects
Ebitda pre to be in a range between EUR4.45 billion and EUR4.85
billion, with the lower end of that range slightly above previous
--SIEMENS AG: The German engineering conglomerate continues to
expect a moderate decline in comparable revenue for its fiscal
--UNICREDIT SpA: The Italian bank confirmed its profits guidance
for next year. It also confirmed its guidance for a cost of risk of
between 100 basis points and 120 basis points for this year.
--HIKMA PHARMACEUTICALS PLC: The pharmaceutical company raised
its outlook for its injectables and generics divisions. It now sees
full-year revenue from its injectables business in the range of
$950 million to $980 million, with a core operating margin of
between 38% to 40%. In its generics division, the company now sees
full-year revenue in the range of $720 million to $760 million,
with a core operating margin around 21%, taking into account the
expected launch of generic Advair Diskus in the second half of the
--INFINEON TECHNOLOGIES AG: The German chip maker now expects
revenue around EUR8.5 billion for the year ending Sept. 30 compared
with previous expectations of about EUR8.4 billion. Infineon
expects a segment result margin for the group of around 13%, up
from previous forecasts of about 12%.
--KONINKLIJKE AHOLD DELHAIZE NV: The Netherlands-based owner of
grocery chains such as Stop & Shop and Giant Food now expects
to report low-to-mid 20% growth in underlying EPS, compared with
previous guidance of mid-single-digit range this year.
--ACCOR SA: The French hospitality group said it doesn't have
enough visibility to provide a 2020 Ebitda guidance range.
--ADIDAS AG: The German sporting-goods company said it wasn't
able to provide a full-year outlook due to uncertainties around the
further development of the coronavirus pandemic.
--ALLIANZ SE: The German insurer didn't provide an updated 2020
outlook for its operating profit due to continuing uncertainties
related to the pandemic.
--HSBC HOLDINGS PLC: Europe's largest bank by assets said it
would provide an update on its medium-term financial targets and
dividend policy when announcing its year-end results for 2020.
--HUGO BOSS AG: The German premium-apparel company expects a
gradual improvement in the second half of the year but still can't
provide a reliable forecast for 2020 due to continuing
uncertainties. However, it expects a credit impairment charge for
2020 between $8 billion and $13 billion. This compared with an
earlier forecast made in April, when the bank said it would set
aside as much as $11 billion for bad loans this year.
--WOLTERS KLUWER NV: The Netherlands-based information, software
and services company said guidance for the whole of 2020 remains
suspended as of May due to uncertainty caused by the pandemic.
Write to Mauro Orru at email@example.com; @MauroOrru94
(END) Dow Jones Newswires
August 07, 2020 09:31 ET (13:31 GMT)
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