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Market Update

Alstom Sales Rise as Signaling Sales Inch Up, Elior Tumbles on Outlook


Author: Sarla Buch
ticker.com
Last Update: 12:09 PM EDT May 16 2018

4:00 PM Frankfurt Alstom annual sales rise as deliveries in Europe and Asia and Middle East jump and signaling and system sales increase to 57%. Elior tumbled 17% on profit warning. Leoni profit surged and lifted fiscal outlook. Wirecard revenues soared 53%.

In London trading, FTSE 100 index increased 16.79 or 0.2% to 7,740.52 and in Frankfurt the DAX index gained 19.25 or 0.2% to 12,988.21.

In Paris, CAC 40 index rose 12.84 or 0.2% to 5,565.99.

Alstom SA jumped 4.9% to 40.66 after France-based rail transport services provider reported revenues in the year ending in March soared 9% from a year ago to 7.9 billion.

Net profit in the quarter surged 64.4% to 475 million from 289 million in a year ago period and diluted earnings per share advanced to 2.11 from 1.30.

The railway services provider said orders received in the quarter declined 27% to 7.2 billion from 10 billion in the same period a year ago.

Alstom forecasted fiscal 2018 revenue growth to achieve 8 billion and margin on earnings before interest and taxes of about 7%.

Elior Group SA tumbled 16.9% to 12.65 after France-based catering and food services provider said preliminary revenue growth in the first-half ending in March jumped 3.9% and operating profit increased 6.9% to 231 million, which is below expectations from a year ago period.

Elior estimated capital expenditure in the period of about 150 million.

The catering and food service provider forecasted fiscal 2018 sales growth was unchanged from the earlier estimate of 3% and operating margin are estimated to be stable between 7.5% and 7.8% and earnings per share to decrease and capital expenditure of about 300 million from a year ago period.

Leoni AG advanced 3.7% to 54.38 after Germany-based wires, cables and wiring systems provider said sales in the first-quarter ending in March advanced 8.6% from a year ago to 1.3 billion.

Net profit in the quarter jumped 19.1% to 43.6 million from 36.6 million in a year ago period and diluted earnings per share increased to 1.34 from 1.11.

Leoni lifted fiscal 2018 group sales growth forecast to at least 5 billion from 4.9 in a year ago period and operating profit growth between 215 million and 235 million.

Wirecard AG increased 1.5% to 54.38 after Germany-based electronic payment solution provider reported revenues in the first-quarter ending in March surged 52.9% from a year ago to 420.4 million.

Net profit in the quarter soared 46% to 70.8 million from 48.5 million in a year ago period and diluted earnings per share increased to 0.57 from 0.39.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc