XTRA:PCZ
XTRA:PCZBanks

Why ProCredit Holding (XTRA:PCZ) Cut Its 2025 ROE Guidance and What This Means for Its Risk Appetite

In October 2025, ProCredit Holding AG’s Management Board revised the group’s 2025 return on equity guidance down to 7-8% from about 10%, citing increased loss allowances for the upcoming year. This development highlights the firm’s more cautious view on loan performance, even as guidance for loan portfolio growth and capital strength remains steady. We'll now explore how this lowered profit expectation, and its link to higher projected loss allowances, may shift ProCredit Holding's...
XTRA:ADS
XTRA:ADSLuxury

Adidas (XTRA:ADS) Net Margin Surges to 4.9%, Underscoring Profit Growth Narrative After 217% Earnings Jump

Adidas (XTRA:ADS) posted a net profit margin of 4.9%, up from 1.7% last year, and delivered 217% earnings growth over the past year. The company’s outlook points to revenue growing 7.6% per year and earnings set to rise 21.9% annually, both outpacing the broader German market. With margin gains, robust historic earnings improvement, and forecasts signaling continued profit acceleration, shareholders are likely to keep a close eye on the upbeat numbers and valuation debate. See our full...
XTRA:HEN3
XTRA:HEN3Household Products

Assessing Henkel (XTRA:HEN3) Valuation After New Shanghai Packaging RecycLab Boosts Sustainability Ambitions

Henkel KGaA (XTRA:HEN3) just announced the launch of its new Packaging RecycLab in Shanghai, focusing on recycling innovation and advanced adhesive technologies. This investment reflects Henkel’s focus on sustainability and its efforts to strengthen its footprint in China. See our latest analysis for Henkel KGaA. Henkel KGaA’s launch of the Shanghai Packaging RecycLab comes as the stock shows some renewed momentum, with a 5.5% gain in the last 90 days. However, the year-to-date share price...
XTRA:AOF
XTRA:AOFSoftware

Is Upgraded 2025 Guidance and New CRO Shifting the Investment Case for ATOSS Software (XTRA:AOF)?

ATOSS Software SE raised its full-year 2025 guidance, lifting its EBIT margin forecast to 34% and targeting total revenues of around €190 million, following strong third-quarter results with year-on-year growth in revenue and net income. Alongside these financial updates, the company announced that Joachim Schreiner, a seasoned executive with international experience, will join as Chief Revenue Officer to support expansion and drive future growth. With enhanced guidance reflecting improved...
XTRA:DBK
XTRA:DBKCapital Markets

Deutsche Bank (XTRA:DBK) Is Up 8.2% After Record Q3 Earnings and Investment Banking Surge Has The Bull Case Changed?

Deutsche Bank recently reported record third-quarter earnings, with net income rising to €1.56 billion as investment banking revenue saw significant growth, notably in fixed income trading. This strong financial performance, which exceeded expectations, comes just weeks ahead of the bank's upcoming strategy update and reflects momentum under CEO Christian Sewing. Next, we'll examine how this record-setting quarter and stronger investment bank performance impact Deutsche Bank's investment...
XTRA:HAG
XTRA:HAGAerospace & Defense

Why Hensoldt (XTRA:HAG) Is Down 5.0% After Cutting Its 2025 Revenue Guidance

Hensoldt AG recently lowered its earnings guidance for 2025, now expecting revenue to total approximately €2.50 billion versus the prior outlook of €2.50 billion to €2.60 billion. This downward revision in revenue expectations signals management's more cautious outlook amid changing market conditions and could shift investor sentiment. We will explore how Hensoldt's revised outlook may challenge the earlier investment narrative, particularly around confidence in future revenue growth. We've...
XTRA:MUV2
XTRA:MUV2Insurance

Should Munich Re’s Move Into US Wireless Infrastructure Influence Decisions by XTRA:MUV2 Investors?

In late October 2025, MEAG, acting for Munich Re, joined Meritage Group LP and Ullico Infrastructure Fund as equity investors in TowerPoint Infrastructure Partners LLC, a leading private owner of US wireless infrastructure assets. This investment highlights Munich Re's move to diversify its assets and tap into the rising demand for digital infrastructure in the United States. Next, we'll explore how Munich Re's entry into US wireless infrastructure could strengthen its diversification...
XTRA:DRW3
XTRA:DRW3Medical Equipment

Dräger (XTRA:DRW3) One-Off Gains Challenge Margin Improvement Narrative Despite Modest Earnings Growth

Drägerwerk KGaA (XTRA:DRW3) posted current net profit margins of 3.5%, edging out last year’s 3.4% as earnings grew 6.6% over the past year. Looking ahead, annual earnings are forecast to rise 9.3% with revenues set to increase 3.6% yearly. However, these rates trail broader German market expectations. Investors are weighing ongoing margin improvements and a valuation that sits well below both industry and peer averages, all amid questions about the sustainability of recent gains. This comes...
XTRA:RDC
XTRA:RDCConsumer Retailing

Redcare Pharmacy (XTRA:RDC): Valuation Perspectives After Nine-Month Sales Growth and Narrowed Net Loss

Redcare Pharmacy (XTRA:RDC) just released its earnings for the first nine months of 2025, showing sales growth to €2,145.71 million and a narrowed net loss of €8.71 million compared to last year. See our latest analysis for Redcare Pharmacy. Redcare Pharmacy’s latest earnings update arrives as the share price continues to face headwinds, sliding nearly 46% year-to-date. While the recent results point to real progress on revenue growth and loss reduction, the market remains cautious. With a...
XTRA:G24
XTRA:G24Interactive Media and Services

Scout24 (XTRA:G24) Margins Narrow to 28.1%, Challenging Optimistic Growth Narratives

Scout24 (XTRA:G24) reported a revenue growth forecast of 10.2% per year, surpassing the broader German market's projected 6% expansion. Over the past five years, the company’s earnings have increased at an average annual rate of 17.1%, though this slowed to just 3% in the most recent year. Net profit margins narrowed to 28.1% from last year’s 30.6%, providing investors with a balanced view of sustained growth, along with some margin compression to monitor moving forward. See our full analysis...
XTRA:KBX
XTRA:KBXMachinery

Knorr-Bremse (XTRA:KBX) Margin Drop Reinforces Profitability Concerns Despite Robust Growth Guidance

Knorr-Bremse (XTRA:KBX) is guiding for robust earnings growth of 15.55% per year, while revenue is forecast to increase 5.4% annually. Yet, the company’s net profit margin stands at 5.3%, down from 7.4% last year, reflecting a trend of earnings contraction with a 2.8% yearly decline over the past five years. Shares are currently trading at €80.7, well below the estimated fair value of €111.65, and the price-to-earnings ratio of 30.8x is lower than direct peers but higher than the wider German...
XTRA:BAS
XTRA:BASChemicals

BASF (XTRA:BAS) Turns Profitable, but One-Off Loss Raises Doubts on Earnings Quality

BASF (XTRA:BAS) has returned to profitability, with net profit margins improving compared to last year. Over the past five years, however, the company’s earnings have declined by an average of 16.6% per year. Looking ahead, BASF’s earnings are forecast to grow at 19.4% annually, exceeding the German market’s average of 16.7%. However, anticipated revenue growth of 2.4% lags behind the expected 6.1% rate for the broader German market. Investors face a mixed picture as they weigh signs of...
XTRA:EOAN
XTRA:EOANIntegrated Utilities

How Investors Are Reacting To E.ON (XTRA:EOAN) Teaming With Nokia on Greener Grid Technology

Nokia recently announced a multi-year partnership with E.ON SE to upgrade the utility's mission-critical telecommunications network infrastructure across Germany, targeting improved automation, flexibility, and energy savings. The project positions E.ON’s grid, which already connects 1.4 million renewable energy plants, as a benchmark for secure, energy-efficient digital infrastructure supporting Europe’s energy transition. We’ll explore how E.ON’s collaboration with Nokia to cut network...
XTRA:VOS
XTRA:VOSMachinery

Does Vossloh (XTRA:VOS) Face a Strategic Test Amid Deutsche Bahn Project Delays?

Earlier this week, Kepler Cheuvreux downgraded Vossloh AG from Buy to Hold, citing valuation concerns following a strong rally and highlighting potential delays in infrastructure projects by Deutsche Bahn, Vossloh’s key customer. This move has drawn attention to how reliant Vossloh is on timely execution of its main customer’s investment plans, elevating focus on the near-term business outlook. We’ll explore how the analyst’s concerns about delays in Deutsche Bahn’s infrastructure projects...