Company news in brief

EU to strike world's largest deal with PfizerThe European Commission said it expects to seal the world's biggest vaccine supply deal within days, buying up to 1.8 billion doses of Pfizer's Covid-19 vaccine for the next few years as a debate rages over unfair access to shots for the world's poorest people.The vaccines from the US drugmaker and its German partner BioNTech would be delivered over 2021-2023, Commissionpresident Ursula von der Leyen said during a visit to Pfizer's vaccine plant in Puurs, Belgium.The agreement would be enough to inoculate the 450 million EU population for two years and comes as the bloc seeks to shore up long-term supplies.This is the third contract agreed by the bloc with the two companies, which have already agreed to supply 600 million doses of the two-dose vaccine this year under two previous contracts.The move comes as the Commission looks to sever ties with AstraZeneca after the drugmaker slashed its delivery targets due to production problems. – Nampa/ReutersModerna says world faces vaccine surplusManufacturers should focus on producing as many vaccines as possible this year, but the world faces a potential surplus next year in capacity, Moderna's CEO said on Friday.Speaking at a virtual event on vaccine manufacturing, Stephane Bancel said that additional technology transfers might dent their ability to meet production targets. Moderna is on track to make up to 1 billion doses this year and 1.4 billion next year, he said."Next year there is going to be way too many vaccines for people on the planet," he said.He added that Moderna was working hard to have a booster vaccine against Covid-19 variants approved by the northern hemisphere late summer or early autumn.He also said that Moderna was in talks with the Covax vaccine-sharing facility which is providing doses to lower income countries, adding: "I hope we are in the final stretch to get an agreement with Covax."LafargeHolcim posts strong Q1 resultsLafargeHolcim raised its full year guidance on Friday after reporting higher sales and doubling its operating profit during the first quarter, sending a positive signal for the global construction sector.The world's largest cement maker said it was seeing "fantastic growth momentum", with better results in all of its regions as building resumes after pandemic-driven shutdowns last year.LafargeHolcim posted net sales of 5.36 billion Swiss francs (US$5.85 billion) for the three months to the end of March, up 1.3% from 5.29 billion francs a year earlier, beating analyst forecasts for 5.11 billion francs.Recurring operating profit (EBIT) rose 102% to 528 million francs, beating forecasts of 310 million, helped by higher profit margins as the company cut costs during 2020.As a result, it raised its full year guidance, saying it now expects recurring operating profit of at least 10% for 2021 on a like-for-like basis. It had previously guided for an increase of "at least 7%". – Nampa/ReutersDaimler raises outlookMercedes-Benz car maker Daimler AG on Friday raised its profit outlook for 2021, but warned that the global semiconductor chip shortage may continue to impact its sales in the second quarter.Daimler said that although "visibility is limited at present", it assumes some recovery in the availability of chips in the second half of this year.But the German carmaker said it still expects its operating profit this year to be significantly above 2020 as the global economy recovers from the ravages of the coronavirus pandemic.Daimler said it now expected an adjusted margin from its Mercedes cars and van business of between 10% and 12%, up from its previous outlook of between 8% and 10%."After this promising start, we are very confident that we can keep up the pace to improve our margins on a sustainable basis and at the same time expand our electric vehicle line-up," chief financial officer Harald Wilhelm said in a statement. – Nampa/ReutersRemy Cointreau eyes 10% full-year profit growthRemy Cointreau said it expected organic growth of around 10% in current operating profit in the 2020/21 fiscal year, after strong demand in the United States and China for its premium cognac lifted fourth quarter sales by 15.1%.The maker of Remy Martin cognac and Cointreau liqueur also predicted a strong start to its 2021/22 fiscal year, citing a favourable base of comparison, shipment phasing benefits and more buoyant consumer trends in the United States.Sales for the three months to March 31 came in at 229.4 million euro (US$275.9 million), marking a like-for-like rise of 15.1%, which compared with analysts' expectations for 15.9%.Cognac sales alone stood at 162.5 million euros – a like-for-like rise of 18.2%, which notably reflected an "excellent" performance during the Chinese New Year celebrations.Cognac demand in the United States remained strong, albeit somewhat moderated by the group's previously announced decision to manage its strategic inventories. – Nampa/Reuters

Company news in brief

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Namibian Sun 2025-05-02

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Company news in brief

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Namibian Sun 2025-05-02

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