Europe Earnings: Axa, Elekta, Kering, Monitise, Valeo

Nigel Thomas
21 Feb, 2014
New York City

AXA net soared 14% to

[R]3:40 PM Frankfurt – AXA net soared 14% to €4.5 billion. Elekta said net sales rose 1%. Kering profit tumbled 52% and net debt surged 38% to €3.4 billion. Monitise quarterly loss narrowed. Valeo profit surged 18% to €439 million and net debt in the year declined 52%.[/R]

In London trading, FTSE 100 index gained 0.3% or 22.01 to 6,835 and in Frankfurt the DAX index rose 0.2% or 17.87 to 9,636.72.

In Paris, CAC 40 index increased 0.4% or 15.86 to 4,371.35.

Axa SA slid 0.2% to €98.03 after the France-based insurance company reported total revenues in the year ending in December rose 2% to €91.25 billion from €90.27 billion a year ago.

Net income in the year soared 14% to €4.48 billion compared to €4.06 billion a year earlier.

Elekta AB plummeted 8.9% to 91.45 kronor after the Sweden-based medical products maker said net sales in the third-quarter rose 1% to 2.39 billion kronor compared to last year.

Earnings before interest, taxes, and amortization in the quarter will increase 3% to 454 million kronor compared to 393 million kronor a year ago.

New orders in the quarter to 3.22 billion kronor.

Kering SA declined 2.9% to €150.45 after the France-based luxury goods retailer stated revenue in the year ending in December grew 0.1% to €9.75 billion from €9.74 billion a year ago.

Net income in the year tumbled 52.4% to €50 million compared to €1.05 billion and diluted earnings per share plunged to €0.39 from €8.32 a year earlier.

The group net debt in the year surged 38.2% to €3.44 billion from €2.49 billion a year ago.

Monitise Plc gained 1% to 72.50 pence after the U.K.-based technology company said revenue in the first-half ending in December soared 67% to £46.5 million from £27.8 million a year ago period

Net loss in the period narrowed to £22 million compared to £30.3 million and loss per share dropped to 1.4 pence from 2.6 pence a year earlier.

Valeo SA surged 11.4% to €98.03 after the France-based automotive parts maker said sales in the year ending in December jumped 3% to €12.11 billion from €11.76 billion a year ago.

Net income in the year surged 18% to €439 million compared to €371 million a year earlier.

The company said net debt in the year declined 52% to €366 million from €763 million and operating margin climbed 10% to €795 million a year ago.