Europe Movers: Volvo, SSAB, Peugeot, Puma, Home Retail, SAP, Telenor

Arthi Gupta
24 Oct, 2012
New York City

Puma estimates annual net earnings to be significantly less than last year. Home Retail half-year sales slid 1% to

[R]12:30 PM Frankfurt – Puma estimates annual net earnings to be significantly less than last year. Home Retail half-year sales slid 1% to £2.53 billion. Peugeot revenues fell 3.9% to €12.93 billion and SAP software revenue increased 17% to €1.03 billion in the third quarter.[/R]

AB Volvo plunged 5.7% to SEK 85.10 after the truck maker reported third quarter net sales fell 6% to SEK 69.1 billion. Income for the period slumped to SEK 1.38 billion or 68 cents per diluted share from SEK 3.9 billion or SEK 1.89 per share a year ago.

Heineken NV fell 2.6% to €46.43 after the Dutch brewer said third quarter revenue grew 7.1% to €4.97 billion. Reported net profit in the quarter rose to €577 million from €525 million in the year-ago quarter.

Home Retail Group plc rose 2.8% to 107 pence after the home and general merchandise retailer said half-year sales fell 1% to £2.53 billion from £2.57 billion in the previous year. Profit for the period climbed to £36.5 million, from £20.4 million last year.

Iberdrola SA gained 0.3% to €3.89 after the Spanish utility said revenues for the nine-month period rose 8% to €25 billion. Net earnings in the period rose 12% to €2.4 billion.

Krones AG climbed 0.2% to €43.08 after the packaging and bottling machine manufacturer reported third quarter sales rose 9.2% annually to €607.9 million. Net income in the quarter slipped to €36.2 million or €1.20 per share compared with €59.3 million or €1.97 per share a year-ago.

Nordea Bank AB slumped 3.6% to SEK 59.50 after the Swedish bank said third quarter risk-adjusted profit surged 54% to €749 million from €485 million in the prior year. Net interest income increased 4% to €1.44 billion from €1.38 billion a year earlier.

Peugeot SA plummeted 6.2% to €5.47 after the French car-maker stated third quarter group revenues fell 3.9% to €12.93 billion compared to the previous year.

Puma AG Rudolf Dassler Sport dipped 0.2% to €215 after the sporting equipment manufacturer reported third quarter sales climbed 6% to €892.2 million. Net earnings plunged 85% to €12.2 million or 81 cents per share from €81.7 million or €5.45 per share last year.

SAP AG soared 3.8% to €54.88 after the enterprise software maker reported third quarter total revenue climbed 16% to €3.95 billion from the prior year. Profit in the quarter plunged 51% to €618 million from €1.25 billion last year.

SSAB AB dropped 1.6% to SEK 47.62 after the steel maker said third quarter sales fell to SEK 8.73 billion compared with SEK 10.92 billion a year ago. Net loss in the quarter swung to SEK 789 million compared to profit of SEK 401 million last year.

Telenor ASA surged 4.1% to NOK 108.60 after the Norway-based telecommunications services provider reported third quarter revenues climbed to NOK 25.253 billion from NOK 24.631 billion last year. Profit for the quarter rose to NOK 3.649 billion from NOK 2.589 billion in the prior year and earnings per share grew to NOK 2.34 from NOK 1.61.