Commerzbank is aiming for a billion dollar profit on
Despite an impending economic downs, Commerzbank believes in a billion dollar profit in 2022 and can continue to build on the state as a strong anchor shareholder. © Sebastian Christoph Gollnow/dpa The logo of Commerzbank at the Commerzbank Tower in Frankfurt: The bank is back in the profit zone. "The federal government is very satisfied with the development of Commerzbank," said Federal Finance Minister Christian Lindner (FDP) on Thursday at a banking conference.
The Samsung electronic giant has earned significantly less in the third quarter of 2022 in view of the declining demand for memory chips and falling prices. The surplus fell by 23.6 percent to 9.39 trillion WON (around 6.6 billion euros) in the year, the South Korean company said on Thursday. © YNA/dpa Before the headquarters of Samsung in South Korean Seoul, a flag blows with the company's logo.
The weakness of the PC market and the also declining demand for mobile devices and televisions had an impact on the chip business. Samsung Electronics is market leading for smartphones, memory chips and televisions.
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Adidas has reduced its corporate goals for the year after the third quarter. © provided by Finanzen.net Toru Yamanaka/AFP/Getty Images A double-digit slump in China sales due to the continuing lockdown measures and one-off expenses of just under 300 million euros in connection with the Russian withdrawal burdened the past quarter. In addition, Adidas observes a significant increase in inventory in important western markets.
, however, according to the information, climbed by 3.8 percent to 76.78 trillion WON (53.8 billion euros) in the third quarter. The company expects sales for the whole year to survive the previous maximum of 2021.
The semiconductor industry had already expected a weaker memory demand in the second half of the year in view of an impending recession. The high inflation had clouded the consumer mood, which also affects the chip producers.
geopolitical uncertainties affect business
The result of the memory business has decreased because the demand for consumer goods remains weak and the adjustments of the customers in the inventory had exceeded the market expectations in a message Samsung. The surgical profit of the semiconductor division alone decreased by almost 50 percent to 5.12 trillion WON from July to September. However, Samsung, according to its own statements, recorded the highest sales in one quarter.
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Asian chip groups such as Samsung or its local competitor SK Hynix also feel the headwind from the efforts of the US government to strengthen the domestic chip industry, for example through subsidies and to block the expansion of the production of highly developed semiconductors in China .
The geopolitical uncertainties will probably affect the memory demand by 2023, according to Samsung. In the second half of the year, however, recovery can be expected, since new data centers and computers needed more storage.
in the market with mobile devices including smartphones, Samsung stated a slight upswing compared to the second quarter despite the inflation pressure. Thanks to solid sales of its flagship models, including foldable devices, the operational profit has increased from 2.62 trillion to 3.24 trillion. For 2023, Samsung expects the smartphone market to expand further.
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