Strong Richemont* FY results

Richemont shares surged as luxury firm’s profits and revenue beat estimates on strong China sales. The company registered its highest turnover in history. Key brands Cartier and Van Cleef came with numbers well ahead of consensus. Interesting enough, during the conference call, Chairman Johann Rupert quashed again the market speculation about a LVMH bid.

Siemens Energy* strong order book

Siemens Energy published numbers ahead of consensus and raised full year guidance from revenues up 3/4% to 10/12% for 2023.

The company came with a huge order book of 12.4 billion claiming that all segments (wind, power generation and grid technologies) were performing ahead of consensus. Siemens Energy which has a strong footprint in the US through its wind energy business should continue to benefit from the US inflation reduction act. The US, India and Germany are expected to become world largest onshore wind markets.

Airbnb* beats market expectation and crashes 

Airbnb reported a strong 1st Quarter earnings, but investors seem used to be positively surprised and they did not like the cautious Q2 guidance. The shares tanked 15% on the news. They are still up 22% ytd. The long-term investment case (rising number of hosts and guests, longer-stay and focus, great execution and new services) is unchanged. 

* Deshima Croissance Contrariante is invested in Siemens Energy and in Richemont. 

 * Deshima Smart Data is invested in Airbnb