Europe Earnings: Allianz, GDF Suez, RBS, Telefonica, Veol

Nigel Thomas
27 Feb, 2014
New York City

Allianz net surged 14.6% to

[R]4:00 PM Frankfurt – Allianz net surged 14.6% to €6 billion. GDF Suez net swung to a loss €9.7 billion after revenue slid. Royal Bank of Scotland said loss widened to £9 billion. Telefonica profit soared 17% to €4.6 billion. Veolia Environnement net swung to a loss €135 million.[/R]

In London trading, FTSE 100 index fell 0.1% or 7.93 to 6,790.15 and in Frankfurt the DAX index slipped 1.07% or 103.61 to 9,558.12.

In Paris, CAC 40 index slid 0.3% or 14.26 to 4,383.46.

Allianz SE declined 3.1% to €126.95 after the Germany-based insurer and financial services provider reported revenue in the year ending in December jumped 4.1% to €110.8 billion from €106.4 billion a year ago.

Net income in the year surged 14.6% to €6 billion compared to €5.2 billion and diluted earnings per share increased 13.7% to €13.05 from €11.48 a year earlier.

The insurer said operating profit soared 8.6% to €10.1 billion from €9.3 billion in the year 2012.

Allianz added premiums from the property-casualty segment for the year fell 0.7% to €46.6 billion while premiums from the life and health segment climbed 8.5%.to €56.8 billion from a year ago. Revenue from asset management segment climbed 5.9% to €7.1 billion.

Total assets under management at the end of the year declined 4.4% to €1,770 billion.

GDF Suez SA soared 4.6% to €18.35 after the France-based natural gas and electricity supplier said in the year ending in December slid 0.8% to €81.28 billion from €81.96 billion a year ago.

Net in the year swung to a loss €9.74 billion compared to a profit of €1.54 billion and diluted earnings per share increased 13.7% to €13.05 from €11.48 a year earlier.

Royal Bank of Scotland Group Plc plunged 7.9% to 325.76 pence after the U.K.-based financial service provider reported net interest income in the year ending in December dropped 3.7% to £10.99 billion from £11.42 billion a year earlier.

Net loss in the year widened to £8.99 billion compared to £6.05 billion and diluted loss per share jumped to 80.3 pence from 55 pence a year ago.

Telefonica SA dropped 3.1% to €11.12 after the Spain-based mobile company said revenue in the year ending in December plunged 8.5% to €57.06 billion from €62.35 billion a year ago period.

Net income in the year soared 16.9% to €4.59 billion compared to €3.93 billion and earnings per share jumped 15.6% to €1.01 from €0.87 a year earlier.

Veolia Environnement SA surged 7.3% to €11.12 after the France-based water and waste service provider stated revenue in the year ending in December fell 4% to €22.31 billion from €23.24 billion a year ago.

Net in the year swung to a loss €135.3 million compared to a profit of €404 million and diluted loss per share swung to a €0.29 from earnings of €0.79 a year earlier.