Europe Earnings: Ashtead, Iliad, ProSiebenSat, Ryanair, SAS

Nigel Thomas
04 Sep, 2013
New York City

Ashtead profit surged as revenue climbed 24%. Iliad chief executive officer sold its stake valued

[R]4:00 PM Frankfurt – Ashtead profit surged as revenue climbed 24%. Iliad chief executive officer sold its stake valued €320 million. ProSiebenSat 1 Media confirm KKR and Permira sold stakes valued €760 million. Ryanair lowered fiscal outlook. SAS net surged 58%.[/R]

In London trading, FTSE 100 index rose 0.07% or 4.45 to 6,473 and in Frankfurt the DAX index gained 0.2% or 17.50 to 8,198.

In Paris, CAC 40 index increased 0.2% or 8.30 to 3,982.

Ashtead Group Plc plummeted 5.7% to 649 pence after the UK based rental equipment provider reported first-quarter revenue ending in July climbed 24% to £410.5 million from £325 million a year ago.

Profit in the quarter surged nearly three-fold to £60.7 million compared to £22.3 million and diluted earnings per share jumped 12 pence from 4.4 pence a year earlier.

Operating profit for the quarter soared 46% to £110.4 million and EBITDA jumped 34% to £176.7 million. Profit before taxation surged 173% to £97.4 million compared to £34.6 million a year ago.

Iliad SA dropped 3.2% to €178 after the France-based telecommunication Xavier Niel deputy chief executive officer sold its 3% stake valued about €320 million. Xavier still holds 55.3% stake in the company.

ProSiebenSat 1 Media AG declined 5.1% to €30.65 after the Germany-based broadcasting company confirmed Kohlberg Kravis Roberts & Co. L.P. and Permira Funds sold 25 million shares valued at €760 million through Lavena Holding 1 GmbH.

Ryanair Holdings Plc plunged 13.4% to €5.87 after the Ireland based low-cost airliner expects its full-year net profit to be at the bottom end of its earlier range of €570 million to €600 million or between £482 million and £508 million, as increased competition forces the discount airline to cut fares and capacity.

SAS AB surged 9.3% to 14.65 kronor after the Sweden-based airline company said passenger revenue in the third quarter slid 0.4% to 11.59 billion kronor from 11.64 billion kronor a year earlier. Net income for the quarter surged 58% to 844 million kronor compared to 534 million kronor a year ago quarter.

The airliner added passenger traffic in the quarter jumped 5.6% and earnings-before-interest-and-tax margin climbed 11.6% from 9% a year ago. Profit-before-tax climbed 54% to 1.12 billion kronor.

Income before tax and nonrecurring items soared 95.8% to 973 million kronor compared to 497 million kronor a year earlier.