Europe Movers: Brenntag, Havas, Lanxess, Rieter

Nigel Thomas
21 Mar, 2013
New York City

Brenntag reported annual net soared 21% to

[R]2:50 PM Frankfurt – Brenntag reported annual net soared 21% to €336 million. Havas net income for the year climbed €135.4 million as revenue soared 8% to €1.78 billion. Lanxess net income for the year rose 2% to €514 million and Rieter profit for the year plunged.[/R]

In London trading, FTSE 100 index dropped 1% or 62.4 to 6,370 and in Frankfurt the DAX index declined 1.4% to 111.5 to 7,891.

In Paris, CAC 40 index slumped 1.6% or 62.6 to 3,767.

Brenntag AG jumped 3.1% to €117.45 after the Germany based chemical distributor reported sales for the year ending in December climbed 7.7% to €9.69 billion. Net income for the year soared 21.1% to €336.2 million compared to €277.4 million. Earnings per share advanced 21.1% to €6.53 from €5.39.

Gross profit for the year jumped 8.9% to €1.93 billion and profit before tax climbed 14.1% to €478.8 million.

The Brenntag said sales in the Europe region for the year increased 5.9% to €4.55 billion and in North America sales surged 12.5% to €3.06 billion. Latin America sales soared 13.9% to €919 million and sales at Asia Pacific climbed 70.3% to €707.6 million.

Havas SA rose 0.8% to €4.86 after the France based advertising and media conglomerate said it plans to remain independent and not looking for acquisitions.

In an interview David Jones chief executive officer of Havas said “The majority of the times, the big acquisitions are great for the company being bought but not for the company buying or the shareholders.”

Havas, today reported full year revenue soared 8% to €1.78 billion and net income climbed €135.4 million. For the fourth quarter, the media company said revenue jumped 5.5% to €521 million.

Lanxess AG declined 6.4% to €58 after the Germany based polymers products maker reported sales for the year ending in December grew 4% to €9.09 billion. Net income for the year rose 2% to €514 million compared to €506 million. Earnings per share increased 2% to €6.18 from €6.08.

For the fourth quarter, the company said sales were flat at €2.12 billion. Net income for the quarter surged 100% to €51 million compared to €5 million. Earnings per share climbed 100% to €0.62 from €0.06.

The Lanxess added in polymer segment sales for the year rose 2% to €5.2 billion and sales of advanced intermediates segment climbed 8% to €1.7 billion. Performance chemicals segment sales grew 3% to €2.2 billion.

Rieter Holding AG declined 7.4% to 173.80 Swiss francs after the Switzerland based textile manufacturer said sales declined 16% to 888.5 francs. Net profit for the year plunged to 26.5 million francs compared to 119 million francs.