Category Archives: Economy

Economy Press Releases & News distributed via EuropaWire

European Investment Fund Commits €4.5 Billion to Bolster Greek SMEs and Green Economy

(IN BRIEF) The European Investment Fund (EIF) has inked guarantee agreements with Greece’s top four banks, including Alpha Bank, Eurobank, National Bank of Greece, and Piraeus Bank, aiming to unlock up to €4.5 billion in financing for Greek small and … Read the full press release

Europe Leads Global Cleantech Innovation, Yet Faces Funding Gap: EIB-EPO Report

(IN BRIEF) The European Investment Bank (EIB) and the European Patent Office (EPO) released a joint report revealing that over 22% of clean and sustainable technologies worldwide are developed within the European Union (EU). Leading fields in cleantech inventions include … Read the full press release

CVC Capital Partners plc Successfully Lists on Euronext Amsterdam

(IN BRIEF) Euronext extends congratulations to CVC Capital Partners plc (CVC) for its triumphant listing on Euronext Amsterdam under the ticker code “CVC”. CVC, a renowned global investment firm, boasts a rich history of over 40 years in private markets … Read the full press release

Saab Reports Strong Q1 2024 Performance and Upgrades Sales Outlook

(IN BRIEF) Saab, a leading defence and security company, commenced 2024 with significant achievements, including a 9% increase in order bookings, reaching SEK 18,495m. Sales saw a robust growth, amounting to SEK 14,185m, with an organic sales increase of 24%. … Read the full press release

NIB Reports Strong First Quarter Performance and Expands Green Financing Initiatives

(IN BRIEF) The Nordic Investment Bank (NIB) announces a robust performance for the first quarter of 2024, with close to EUR 1 billion in new lending signed and EUR 643 million disbursed. The bank’s annual meeting of the Board of … Read the full press release

Hexagon AB Reports Steady Growth in First Quarter 2024

(IN BRIEF) Hexagon AB announces its first-quarter 2024 financial results, demonstrating a 3% organic revenue growth and a 1% increase in net sales compared to the previous year. The company achieved an adjusted gross margin of 66.5% and a 1% … Read the full press release

Finnvera Spearheads Climate-Friendly Investments with EUR 200 Billion Plans

(IN BRIEF) Finnvera, committed to promoting climate-friendly investments, announces plans for low-emission investments worth over EUR 200 billion, aligning with the Paris Climate Agreement’s goal of limiting global warming to 1.5 degrees. With a focus on reducing carbon footprints, Finnvera … Read the full press release

Yara’s First Quarter 2024: Earnings Dip Amidst Rising Deliveries, Decarbonization Success, and Market Dynamics Shift

(IN BRIEF) Yara’s first-quarter 2024 earnings saw a decline, with EBITDA down by 11% compared to the previous year, primarily attributed to lower prices. Despite this, total deliveries surged by 12%, notably in Europe, which saw a 37% increase. The … Read the full press release

Unilever Reports Strong Q1 2024 Results with 4.4% Underlying Sales Growth

(IN BRIEF) Unilever has announced its first-quarter results for 2024, revealing a 4.4% increase in underlying sales growth, driven by a 2.2% rise in volume. All five business groups reported growth, led by Beauty & Wellbeing. Turnover reached €15.0 billion, … Read the full press release

Holcim Reports Robust Q1 Performance with Over-Proportional Growth and Strategic Expansion

(IN BRIEF) Holcim, a global leader in building solutions, announced its first-quarter 2024 results, showcasing strong growth and strategic expansion. Despite challenges, the company reported a net sales increase of 3.4% in local currency, with recurring EBIT growth of 17.1%. … Read the full press release

Neste Navigates Resiliently Through Challenging First Quarter in Renewables Market

(IN BRIEF) Neste, a leader in renewable fuels and circular economy solutions, unveiled its first-quarter 2024 results, demonstrating resilience amidst a weak renewables market. Despite challenges, the company reported a comparable EBITDA of EUR 551 million, reflecting a proactive approach … Read the full press release

Schneider Electric Reports Positive Progress in Sustainability Journey with Q1 2024 Results

(IN BRIEF) Schneider Electric, a leader in energy management and automation, has unveiled its first-quarter results for the Schneider Sustainability Impact (SSI) program, in conjunction with financial outcomes. The SSI program, integral to the company’s 2021–2025 sustainability targets, encompasses environmental, … Read the full press release

NIB and Aktia Bank Partner to Boost SMEs and Environmental Projects in Finland with EUR 75 Million Loan

(IN BRIEF) Nordic Investment Bank (NIB) and Aktia Bank Plc have joined forces in a seven-year EUR 75 million loan agreement aimed at supporting small and medium-sized enterprises (SMEs), smaller mid-caps (SMCs), and environmental projects in Finland. With a commitment … Read the full press release

LPKF Laser & Electronics SE Meets Q1 Guidance, Focuses on Growth Initiatives

(IN BRIEF) LPKF Laser & Electronics SE achieved its Q1 revenue of EUR 25.4 million and adjusted EBIT of EUR -4.3 million, meeting guidance despite challenges in incoming orders due to project delays. The company made strides in key areas, … Read the full press release

Symrise AG Reports Strong Q1 Growth, Confirms 2024 and Long-Term Targets

(IN BRIEF) Symrise AG kicked off the 2024 fiscal year with a successful start, reporting a 5% increase in sales to €1.3 billion, supported by robust demand and organic growth of 10.9%. Dr. Jean-Yves Parisot, CEO, expressed optimism for the … Read the full press release

Adyen Reports Strong Q1 2024 Growth with €297.8 Billion Processed Volume

(IN BRIEF) Adyen (AMS: ADYEN) announced robust growth in its Q1 2024 business update, driven by a 46% year-over-year increase in processed volume, totaling €297.8 billion, attributed to volume acceleration with existing enterprise customers. Net revenue also saw a significant … Read the full press release

CNP Assurances Enters Negotiations to Sell Insurance Operations in Cyprus and Greece to Hellenic Bank

(IN BRIEF) CNP Assurances has initiated exclusive negotiations with Hellenic Bank for the sale of its insurance operations in Cyprus and Greece. These operations, conducted through CNP Cyprus Insurance Holdings (CIH), represent a small fraction of CNP Assurances Group’s total … Read the full press release

ANDRITZ Reports Stable Profitability Amidst Economic Challenges

(IN BRIEF) International technology group ANDRITZ has announced satisfactory business development in the first quarter of 2024, with stable profitability despite a slight decrease in revenue. While total order intake declined from the previous year’s high, orders for green technologies … Read the full press release

European Investment Bank President Addresses UN Financing for Development Forum

(IN BRIEF) Nadia Calviño, President of the European Investment Bank Group, participates in the 2024 Financing for Development Forum at the United Nations in New York. The forum, convened by the United Nations Economic and Social Council (ECOSOC), aims to … Read the full press release

Nordea Group Chief Economist Highlights Nordic Economic Resilience Amid Global Challenges

(IN BRIEF) In a recent analysis, Helge Pedersen, Nordea Group Chief Economist, emphasizes the global economic resilience, signaling a potential soft landing. However, strong labor markets pose challenges for monetary policy, especially with the new geopolitical dynamics. While Norway and … Read the full press release

Eni’s Q1 2024 Results Show Accelerated Growth and Strategic Portfolio Transformation

(IN BRIEF) Eni’s Board of Directors, under the leadership of Giuseppe Zafarana, approved the unaudited consolidated results for Q1 2024, showcasing an accelerated transformation of the company’s portfolio. CEO Claudio Descalzi highlighted key achievements, including the acquisition of Neptune Energy … Read the full press release

European Investment Fund Boosts Berlin SME Financing with €24.5 Million Guarantee

(IN BRIEF) Investitionsbank Berlin (IBB) is expanding its support for small and medium-sized enterprises (SMEs) in Berlin through a €24.5 million counter-guarantee provided by the European Investment Fund (EIF). This backing, facilitated by the InvestEU programme, allows IBB to enhance … Read the full press release

Outokumpu to Host Webcast Following Release of Q1 2024 Interim Report

(IN BRIEF) Outokumpu has announced the publication of its interim report for January–March 2024 on May 7, 2024, at approximately 9:00 am EEST. Following the report’s release, a live webcast and conference call will be conducted at 3:00 pm EEST, … Read the full press release

Iberdrola Launches Shareholder Month: A Virtual Space for Investor Engagement

(IN BRIEF) Iberdrola, a leading European electricity company, inaugurates Shareholder Month, an event that includes the 2024 General Shareholders’ Meeting, emphasizing investor engagement. The virtual space, featuring thematic rooms, aims to inform and involve shareholders in discussions covering environmental, social, … Read the full press release

Kuehne+Nagel Group Sees Q1 Earnings Dip Amid Strategic Measures

(IN BRIEF) In the first quarter of 2024, Kuehne+Nagel Group reported a decline in earnings compared to the previous year, citing intensified cost measures amidst a challenging business environment. Despite a slight improvement in demand for transportation services, the company’s … Read the full press release

Sand to Green: A Sustainable Oasis in Morocco’s Desert

(IN BRIEF) Sand to Green, a beneficiary of the EBRD Star Venture programme, is making significant strides in combating desertification and promoting sustainable agriculture in Morocco. Founded by Benjamin Rombaut, Gautier De Carcouët, and Wissal Ben Moussa, the company utilizes … Read the full press release

Barclays Strengthens M&A Leadership Team with Key Appointments in EMEA

(IN BRIEF) Barclays has announced the appointment of Stephen Pick as Head of M&A for EMEA, Pier Luigi Colizzi as Chairman of M&A for EMEA, and Asim Mullick as Head of M&A for Financial Sponsors for EMEA. These appointments underscore … Read the full press release

Leadership Transition at flatexDEGIRO: Co-CEOs Appointed as Niehage Steps Down

(IN BRIEF) Frank Niehage will step down from his role as CEO of flatexDEGIRO Group on April 30, 2024, due to differing views on strategic development. Dr. Benon Janos, CFO, and Stephan Simmang, CTO, will take on the roles of … Read the full press release

AFME Applauds European Council’s Push for New Competitiveness Deal

(IN BRIEF) The Association for Financial Markets in Europe (AFME) lauds the European Council’s recent conclusions advocating for a “new European competitiveness deal,” which underscores the importance of deepening the Single Market and advancing the Capital Markets Union (CMU). AFME … Read the full press release

Sweco AGM 2024: Resolutions Passed, Dividend Announced, and Treasury Share Plans Set

(IN BRIEF) Sweco AB (publ) concluded its Annual General Meeting, ratifying proposals from the Board of Directors and the Nomination Committee. The meeting re-elected seven Directors and granted discharge of liability for the financial year 2023. Ernst & Young AB … Read the full press release

Intesa Sanpaolo Partners with Quid Informatica to Launch Innovative Financing Products through isybank

(IN BRIEF) Intesa Sanpaolo and Quid Informatica have inked a framework agreement facilitating the introduction of financing products by isybank, Intesa Sanpaolo’s digital bank, in the upcoming months. Qinetic, Quid’s credit process management platform, will serve as the foundation for … Read the full press release

NatWest SME PMI® Tracker Shows UK SMEs Optimistic Amidst Recovery and Sustainable Investment Plans

(IN BRIEF) The latest NatWest SME PMI® Tracker reveals a robust expansion in business activity among UK SMEs during the first quarter of the year, with a Business Activity Index of 52.6 in March, indicating growth. This growth is largely … Read the full press release

European Investment Bank Signs €215 Million Loan Agreement with Andalusia for Regional Development Projects

(IN BRIEF) The European Investment Bank (EIB) has finalized a €215 million loan agreement with the regional government of Andalusia to co-finance social, green, and digital investment initiatives in the Spanish region. This funding, part of the EU operational programme … Read the full press release

Bosch Maintains Growth Trajectory Amidst Challenging Economic Landscape

(IN BRIEF) Despite facing a challenging economic climate, the Bosch Group showcased growth and profitability in the 2023 business year. With sales reaching 91.6 billion euros and an EBIT margin from operations up by 5.3 percent year-on-year, the company is … Read the full press release

Munich Re Revamps Leadership Structure to Strengthen Regional Underwriting in Asia Pacific & Africa

(IN BRIEF) Munich Re announces strategic changes to its leadership structure in Asia Pacific, Middle East & Africa (APAC MEA), aimed at bolstering its in-market Underwriting capabilities and refining its regional divisions. The revised setup will prioritize stronger local Underwriting … Read the full press release

Allianz Group Completes Stake Disposal in Allianz Saudi Fransi to ADNIC, Streamlining Middle-East Operations

(IN BRIEF) Allianz Group has finalized the sale of its 51% stake in Allianz Saudi Fransi to Abu Dhabi National Insurance Company (ADNIC), marking a strategic move in its business operations in the Middle East. The transaction, which received regulatory … Read the full press release

European Promotional Banks Surpass Circular Economy Financing Target, Aim for Ambitious Expansion

(IN BRIEF) The Joint Initiative on Circular Economy (JICE), spearheaded by prominent European Union public promotional banks and institutions, has exceeded its initial €10 billion financing goal for circular economy projects, reaching €11.57 billion by the close of 2023. At … Read the full press release

EIB Invests €150 Million in Bhutan’s Renewable Energy Drive: A Step towards Carbon Neutrality

(IN BRIEF) In a landmark move, the European Investment Bank (EIB) has granted a €150 million loan to Bhutan, marking its first-ever investment in the country. This funding aims to bolster Bhutan’s renewable energy sector, particularly through the development of … Read the full press release

EIB Grants €400 Million Loan for Green Energy Grid Expansion in Thuringia

(IN BRIEF) The European Investment Bank (EIB) is providing a €400 million loan to Thüringer Energie AG (TEAG), a municipal energy supplier in Thuringia, Germany, to upgrade and digitize the electricity grid. This investment, totaling around €600 million, aims to … Read the full press release

Nagarro Reports 6.5% Revenue Growth in 2023: Annual Financial Results Unveiled

(IN BRIEF) Nagarro, a global digital engineering leader, disclosed its audited financial figures for 2023, showcasing consistent performance with a 6.5% revenue increase year-over-year (YoY). Despite facing excess capacity due to growth moderation, the company saw revenue climb to €912.1 … Read the full press release