Group 1 - European companies are facing the most severe concerns about currency fluctuations in four years, with the strong euro in 2025 eroding profit prospects [1][2] - The frequency of mentions of "currency headwinds" in earnings reports of Stoxx Europe 600 companies has reached the highest level since Q1 2021 [1] - The strong euro is negatively impacting European export companies that primarily generate revenue in USD, reducing their competitiveness in the US market [1][2] Group 2 - Companies like SAP SE and Adidas have cited currency fluctuations as a reason for lower-than-expected revenues, with SAP expecting a 3.5 percentage point reduction in cloud growth due to exchange rate volatility [1][2] - Nokia anticipates a €230 million impact from currency fluctuations, while several Swedish industrial giants warn of profit pressures due to a weaker dollar against the Swedish krona [2] - Many companies were unprepared for the significant strengthening of the euro, as the prevailing view at the beginning of the year was that the Trump presidency would be positive for Europe [2][3] Group 3 - Non-essential consumer goods and healthcare sectors are particularly affected, as a significant portion of their revenue comes from USD, while domestic-focused sectors like banking are better protected [3] - The current situation represents a "double whammy" for export-oriented companies, as they face both unfavorable currency conditions and a less optimistic growth outlook [3] - Analysts suggest that the worst may be over as companies establish more currency hedges and normalize euro and dollar fluctuations [3][4]

金十数据8月1日讯，欧洲企业对汇率波动的影响感到前所未有的担忧，原因在于欧元在2025年的强势走 势正在侵蚀其盈利预期。截至目前已公布财报的欧洲斯托克600指数成分股公司中，在文件和财报电话 会议中提及"货币逆风"这一词汇的情况，已升至自2021年第一季度以来的最高水平。 欧洲企业对外汇波动的担忧达到四年来最高水平 ...