Europe Earnings: Aegon, Air France-KLM, Accor, Danone, Randstad

Nigel Thomas
20 Feb, 2014
New York City

Aegon net tumbled 60%. Air France-KLM said loss in the quarter widened to

[R]3:40 PM Frankfurt – Aegon net tumbled 60%. Air France-KLM said loss in the quarter widened to €1.2 billion and plans to buy Brazil-based low-cost airline Gol Linhas and invest $100 million. Accor net swings to a profit. Danone net declined 13%. Randstad profit surged to €231million.[/R]

In London trading, FTSE 100 index slid 0.3% or 17.95 to 6,778.76 and in Frankfurt the DAX index declined 1% or 97.72 to 9,562.33.

In Paris, CAC 40 index fell 0.2% or 8.56 to 4,332.54.

Aegon NV plunged 6.2% to €6.34 after the Netherlands-based insurer said total sales in fourth-quarter dropped 4% to €1.74 billion from €1.81 billion a year earlier.

Net income in the quarter tumbled 60% to €174 million compared to €431 million a year ago period.

The company said loss was mainly driven by macro hedges in the Americas and the guarantee portfolio in the Netherlands.

Air France-KLM fell 0.5% to €9.03 after the France-based state controlled airline reported revenue in the fourth-quarter ending in December fell 2.2% to €6.12 billion from €6.26 billion a year ago.

Net loss in the quarter widened to €1.18 billion compared to €244 million and diluted loss per share for the period widened to €3.98 from €0.83 a year earlier.

KLM plans to buy a small stake in Brazil-based low-cost-fare airline Gol Linhas Aereas Inteligentes SA with investment of $100 million, including a subscription of Gol shares for $52 million, representing 1.5% equity stake.

Accor SA dropped 1.8% to €36.07 after the France-based hotels group said revenue in the year ending in December slipped 2% to €5.54 billion from €5.65 billion a year earlier.

Net in the year swings to a profit €126 million compared to a loss of €599 million a year ago.

Danone SA gained 1.3% to €51.60 after the France-based dairy products maker reported net sales in the year ending in December jumped 4.8% to €21.3 billion from €20.9 billion a year ago.

Net income in the year declined 13.4% to €1.55 billion compared to €1.79 billion and diluted earnings per share slipped to €2.42 from €2.77 a year earlier.

Randstad Holding NV tumbled 9.5% to €44.51 after the Netherlands-based staffing services provider reported revenue in the year ending in December slumped 3% to €16.57 billion from €17.09 billion a year ago period.

Net in the year surged 528.6% to €230.7 million compared to €36.7 million and diluted earnings per share soared to €1.23 from €017 a year earlier.