Friday July 31, 08:04 AM
Digest of recent French company results
Falling oil and gas prices pushed Total's second-quarter net income down 54 percent, but foreign exchange gains helped the French oil major beat analysts' expectations.
----------------
Tyre maker Michelin
(Paris: FR0000121261 - news) posted a smaller-than-expected first half loss and said that although industry stocks were returning to more normal levels it was too soon to talk about an upturn.
----------------
Luxury and retail group PPR (Paris: FR0000121485 - news) posted a slightly-better-than-forecast 4.8 percent drop in first-half recurring operating profit on the back of lower retail and luxury sales.
-----------------
Safran (Paris: FR0000073272 - news) posted forecast-beating first-half profit but said the economic environment remained difficult and volatile as dwindling airline traffic and the business jet market collapse undermines lucrative spare parts sales.
-----------------
JCDecaux, the world's No. 2 outdoor advertising group, said visibility on the battered advertising market remained very low as an industry slump slashed its first-half earnings.
-----------------
Schneider Electric SA (Paris: FR0000121972 - news) said first half EBITA was 903 million euros before restructuring costs and maintains goal of delivering full-year EBITA margin of 12% before restructuring costs.
-----------------
Building materials group Lafarge (Paris: FR0000120537 - news) reported a 45 percent fall in second-quarter net income to below expectations and lowered its earlier outlook for 2009 global cement sales as economic conditions deteriorated, hitting construction activity worldwide.
----------------
Wholesaler Rexel said first half sales fell some 18 percent to 5.6 billion euros and EBITDA margin slipped 190 basis points to 3.3 percent.
----------------
JULY 30
Air France (Paris: FR0000031122 - news) -KLM posted a first quarter operating loss of 426 million euros and launched a review of its medium-haul route network..
-----------------
Beauty products group L'Oreal (Paris: FR0000120321 - news) said it saw business improving during the rest of the year after posting a 2.1 percent drop in second-quarter sales..
-----------------
Seamless (Munich: A0ND5Z - news) tube maker Vallourec (Paris: FR0000120354 - news) said quarterly sales plunged, forecast a fall in second-half sales and operating profit, and predicted a low point in activity in the third quarter.
For more, double click on.
-----------------
Transport and infrastructure group Vinci (Paris: FR0000125486 - news) posted lower first half sales but kept its financial targets. .
-----------------
Nuclear reactor maker Areva (Paris: FR0004275832 - news) said it was unable to confirm its previously guidance as it posted higher first half sales..
-----------------
Property group Nexity (Paris: FR0010112524 - news) posted lower first-half profits but kept its 2009 outlook..
-----------------
Power group EDF (Paris: FR0010242511 - news) posted a bigger-than-expected 12 percent rise in first-half core earnings, lifted by the acquisition of British Energy (LSE: BGY.L - news) , but rising costs hit its bottom line.
---------------
Renault (Paris: FR0000131906 - news) posted a worse-than-expected 2.712 billion euro net loss for the first half on plunging sales but revised its full-year forecast for the world automotive market upwards. Renault confirmed it aims at a positive free cash flow and an increase in market share for the full year.
--------------
France Telecom (Paris: FR0000133308 - news) posted higher-than-expected first-half operating income on but warned of a slowdown in activity in the second half and increasing cost pressure due to regulatory decisions.
--------------
Air Liquide (Paris: FR0000120073 - news) posted a dip in its first-half net income and stuck to its forecast that net profit and sales this year should be similar to 2008 levels due to contrasting demand.
-------------
Alcatel (Paris: FR0000130007 - news) -Lucent said it expected to see improved margins going forward after reporting a deeper second-quarter underyling loss, hit by telecoms operators' cuts in capital expenditures.
-------------
Capgemini, Europe's largest computer consultancy, cut its 2009 sales outlook but told investors the first signs of a relative stabilisation in activity had emerged in some regions.
-------------
Gecina (Paris: FR0010040865 - news) said its cash flow per share was up 22.4 percent to 3.12 euros and the net adjusted asset value per share was down 24.9 percent to 106.27 euros.
--------------
Scor (Paris: FR0010411983 - news) said its first half net profit was down 24 percent.
--------------
Imerys (Paris: FR0000120859 - news) said first half operating profit fell 70.8 percent but the chief financial officer said it kept it margin target of around 10 percent.
----------------------
CGG Veritas (Paris: FR0000120164 - news) reported a 71 percent drop in second quarter net income before restructuring, at $23 million, on 11 percent lower sales. It said it is reducing its fleet to 20 from 27 vessels, with a one-off charge of $87 million.
-----------------------
JULY 29
Car parts group Valeo (Paris: FR0000130338 - news) posted a second quarter net loss of 54 million euros.
----------------------
Investment company Wendel (Paris: FR0000121204 - news) reported a dip in first half sales and rescheduled a debt package. It also maintained its forecast for a loss over the course of 2009.
-----------------------
French carmaker PSA Peugeot Citroen swung to a first half loss with sales down over a fifth, and said it saw a recovery in the European automobile market starting towards the end of 2010.
---------------------
Sanofi (Paris: FR0000120578 - news) -Aventis raised its earnings growth goal for this year and said new cost savings should result by 2013 in a net profit and sales level similar to 2008 as the French drugmaker grapples with patent expiries.
---------------------
Rhodia (Paris: FR0010479956 - news) says second quarter recurring EBITDA drops 43 percent to 187 milion euros and sees slight sequential increase in EBITDA in the third quarter. Demand levels for the fourth quarter remain uncertain.
--------------------
Boursorama (Paris: FR0000075228 - news) said first half net banking income slipped two percent to 95.7 million euros and net attributable income was up four percemt to 23.7 million, after a gain on SelfBank and a goodwill hit for OnVista AG (Xetra: 546160 - news) .
--------------------
EDF Energies Nouvelles (Paris: FR0010400143 - news) reports a 53.7 percent jump in first half net attributable income to 41.8 million and confirmed its full-year targets.
EDF has a 50 percent stake.
--------------------
Legrand (Paris: FR0010307819 - news) confirms 2009 margin target of at least 14 percent, as first half operating margin was 16.9 percent despite 16.7 percent drop in sales.
--------------------
Saft posts EBITDA margin of 17.9 percent of sales in H1 2009, at 51.5 milion euros, in line with annual guidance.
Revises 2009 sales guidance to 7-10 percent lower compared to 2008, at constant exchange rates. The 2009 EBITDA guidance is unchanged at 18 percent of sales or above.
------------------
NicOx (Paris: FR0000074130 - news) posts first half loss of 27.2 million euros versus 33.1 million last year.
-----------------
Atos Origin (Paris: FR0000051732 - news) confirmed its 2009 guidance after it had a first half operating margin of 4.6 percent.
-----------------
Maroc Telecom (Paris: MA0000011488 - news) said it saw a 2009 operating profit margin of around 45 percent and sales up some 2 percent, despite the economic crisis and increased competition.
-----------------
JULY 28
Euler Hermes (Paris: FR0004254035 - news) , the world's biggest credit insurer and a unit of German insurer Allianz, reported a 99 percent plunge in first-half net profit to 0.7 million euros on Tuesday and said it doesn't see any big improvement this year.
-----------------
Gameloft (Paris: FR0000079600 - news) , which makes video games for mobile phones, posted a 20 percent increase in first half sales to 60.1 million euros and confirmed its full-year sales and profitability targets.
----------------
Property group Icade (Paris: FR0000035081 - news) published an 11.1 percent increase in operating profit to 173 million euros in the first half. Consolidated sales fell 6 percent to 714 million euros, 'predominantly in relation to the expected fall in residential property development', it said. EBITDA was stable at 156.5 million euros and the group said rents from commercial propert investment rose 22 percen.
----------------
M6, France's second-largest commercial TV broadcaster, on Tuesday posted a flat first-half operating income, as lower programming costs helped cushion the impact of depressed advertising markets.
----------------
European aerospace group EADS (Paris: NL0000235190 - news) reported a 23 percent drop in first-half profit on the back of foreign exchange swings and lower aircraft prices, but maintained its basic outlook while raising cashflow targets.
The Airbus parent also took a fresh 71 million euro charge for the delayed A400M military plane in the second quarter but deferred radical further provisions on the project as it negotiates a new contract with purchasing countries.
---------------
Nexans SA (Paris: FR0000044448 - news) says its made a net loss of 57 million euros in the first half against a net prfit of 119 million a year ago. It said the full year net income should be positive again despite restructuring charges.
---------------
Cinema (CNMA-L-M.TA - news) group Gaumont (Paris: FR0000034894 - news) reported a rise in net attributable profit for the first half to 2.1 million euros from 1.2 million.
---------------
JULY 27
LVMH, the world's biggest luxury group, posted a 12 percent drop in first-half operating earnings, dragged down by its wines, spirits, watches and jewellery businesses.
Profit from recurring operations dropped to 1.36 billion euros from 1.54 billion a year earlier, LVMH said in a statement on Monday. Nine analysts polled by Reuters on average estimated the result would be 1.34 billion.
---------------
Compagnie des Alpes (Paris: FR0000053324 - news) said its nine-month sales rose 2.5 percent to 452.6 million euros.
---------------
April Group (Paris: FR0004037125 - news) says first half sales rose 27.5 percent to 428.06 milion
--------------
NextRadioTV (Paris: FR0010240994 - news) says first half sales down 6 percent to 59.7 million, makes net loss of 6.2 million. It plans a 20 milion euros capital increase.
--------------
Klepierre (Paris: FR0000121964 - news) , a subsidiary of BNP Paribas (Paris: FR0000131104 - news) , said its first half net current cash flow per share was flat at 1.05 euros while its net revalued asset value per share was 28.60 euros, down 14.1 percent.
--------------
Toll-road group APRR (Paris: FR0006807004 - news) said its second quarter sales were down 4.1 percent to 543 million euros.
-------------
Ubisoft says its first quarter sales are down 51 percent to 83 million, which it added was below target. It reduced its outlook for 2009.
-------------
Europe's largest defence electronics company, Thales (Paris: FR0000121329 - news) , posted a deeper than expected slide in first-half profit, hampered by the weak economy and delays in a major European military project.
-------------
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
