Europe Earnings: BASF, Electrolux, Renault, Telecom Italia, Volvo

Nigel Thomas
25 Oct, 2013
New York City

BASF profit climbed 19%. Electrolux net tumbled 29%. Renault said group revenue dropped 3% to

[R]4:25 PM Frankfurt – BASF profit climbed 19%. Electrolux net tumbled 29%. Renault said group revenue dropped 3% to €8 billion but registrations rose. Volvo said net income was nearly flat but net sales dropped 5%.[/R]

In London trading, FTSE 100 index rose 0.05% or 3.27 to 6,716 and in Frankfurt the DAX index slid 0.04% or 3.49 to 8,977.

In Paris, CAC 40 index fell 0.3% or 13.94 to 4,262.

BASF SE gained 1.6% to €75.36 after the Germany-based chemical company said sales in the third-quarter rose 1.5% to €17.7 billion from €17.5 billion a year ago period.

Net income in the quarter climbed 18.5% to €1.1 billion compared to €925 million and earnings per share jumped 19.2% to €1.20 from €1.01 a year earlier.

BASF added earnings-before-interest-and-tax in the third-quarter surged 15% to €1.69 billion or £1.45 billion.

Electrolux AB slumped 6.7% to 161.20 kronor Sweden-based home appliances maker said net sales in the third-quarter grew 27.3 billion kronor from 27.2 kronor a year earlier.

Net income in the quarter tumbled 29% to 656 million kronor compared to 923 million kronor and earnings per share slipped 2.29 kronor from 3.22 kronor a year ago.

Renault SA dropped 2.4% to €66.66 after the France-based automaker reported group revenues in the third-quarter ending in September dropped 3.2% to €8 billion.

Automotive revenues fell 3.4% to €7.48 billion but registrations rose 3.1% to 614,888 units from a year ago period. Renault added in the Asia-Pacific Region, group registrations declined 30.4%.

Telecom Italia SpA plunged 6.1% to 67.4 cents after the Italy-based communication company plan to propose for capital increase of €1.5 billion to €2 billion at its board meeting on November 7.

Volvo AB declined 6.6% to 88.10 kronor after the Sweden-based auto maker reported net sales in third-quarter dropped 5% to 64.9 billion kronor from 68.3 billion kronor a year ago.

Net income for the quarter was nearly flat at 1.41 billion kronor and diluted earnings per share slid 0.68 kronor from 0.69 kronor a year earlier.