Europe Earnings: Cap Gemini, Dr Martens, Svenska Cellulosa, Ziggo

Nigel Thomas
18 Oct, 2013
New York City

Cap Gemini plans to buy back convertible bonds worth

[R]4:25 PM Frankfurt – Cap Gemini plans to buy back convertible bonds worth €350 million. Dr Martens agreed to a deal for £300 million to private equity firm Permira. Svenska Cellulosa net surged three-fold to 1.45 billion kronor. Ziggo said profit jumped 19.4% and rejected buyout offer of Liberty Global.[/R]

In London trading, FTSE 100 index gained 0.6% or 39.33 to 6,515 and in Frankfurt the DAX index rose 0.3% or 28.03 to 8,840.

In Paris, CAC 40 index increased 0.7% or 31.15 to 4,271.

Cap Gemini SA jumped 4.3% to €47.52 after the France-based professional service provider plans to buy back convertible bonds due Jan. 1, 2014 and opened a separate bond issue to raise €350 million representing a premium between 35% and 42.5% from opening share price on October 18.

The settlement and delivery of the repurchased 2014 OCEANEs is expected to start on October 30.

In a press note, the company plans to acquire software-services Euriware a unit of Areva SA. The deal is likely to finalize by early 2014.

Dr Martens the UK based boot maker is set to be sold to private equity firm Permira in a £300 million deal. The boot maker had revenues above £110 million and pre-tax profit of £15.3 million.

EVRAZ Plc rose 0.8% to 133.10 pence after the U.K.-based steel and mining company said crude steel production in the third-quarter increased 1.4% to 3.96 million tons from 3.91 million tons from a year ago.

Pig iron production jumped 4.4 while production in Pig iron saleable soared 94.4% and raw coking coal production jumped 30.1% to 4.80 million tons.

Svenska Cellulosa AB SCA soared 5.9% to 172 kronor after the Sweden-based consumer goods and paper product maker reported net sales in the third quarter ending in September fell 1% to 22 billion kronor from 22.2 billion kronor a year ago.

Net income for the quarter surged three-fold to 1.45 billion kronor compared to 370 million kronor and diluted earnings per share jumped 2.06 kronor from 0.51 kronor a year earlier.

The company said operating profit for the quarter climbed 83% to 2.29 billion kronor from 1.25 billion kronor a year ago period.

Schindler Holding Ltd climbed 4.8% to 128 francs after the Switzerland-based escalators and elevators maker plans to repurchase 4.1 million or up to 5.8% shares.

The company plans to pay between 129 francs and 129.80 francs per share.

Ziggo NV jumped 2.1% to €31.04 after the Netherlands-based pay television service provider said revenue in the third-quarter ending in September grew 2.9% to €391.1 million from €380.1 million a year earlier.

Net profit jumped 19.4% to €86.5 million compared to €72.4 million and earnings per share increased to €0.43 from €0.43 a year ago.

On October 16, Ziggo reject buyout from Liberty Global Plc.