Audi, Hannover, Prudential, Symrise Net Jump; RWE Net Swings to Profit

Nigel Thomas
10 Mar, 2015
New York City

Audi profit soared 10% to

[R]4:00 PM Frankfurt – Audi profit soared 10% to €4.4 billion. Hannover Re net climbed 10% to €986 million. Prudential profit surged 64% to £2.2 billion on 15% increase in revenues. RWE net swung to profit of €1.7 billion. Symrise net climbed 7%.[/R]

In London trading, FTSE 100 index declined 1.5% or 101.08 to 6,775.39 and in Frankfurt the DAX index dropped 1.2% or 139.04 to 11,443.07.

In Paris, CAC 40 index slumped 1.2% or 59.79 to 4,877.41.

Audi AG climbed 4.6% to €739.65 after the Germany-based luxury vehicles maker reported revenues in the year ending in December jumped 7.8% to €53.79 billion from €49.88 billion a year ago period.

Net profit in the year soared 10.4% from a year ago to €4.37 billion compared to €3.96 billion and diluted earnings per share advanced to €101.55 from €92.13.

In the current year, the company plans to add worldwide more than 6,000 new employees and intends to deliver more premium cars in 2015.

Hannover Rueck SE jumped 4.5% to €91.03 after the Germany-based non-life insurance company said total revenues in the year ending in December increased 1.9% to €13.90 billion from €13.64 billion a year ago period.

Net profit in the year climbed 10.1% from a year ago to €985.6 million compared to €895.5 million and diluted earnings per share jumped to €8.17 from €7.43.

For the fiscal 2015, the group forecasted net income of about €875 million and proposed to pay dividend of €3 per share plus €1.25 special dividend for 2014.

Prudential Plc dropped 2.6% to 1,620.55 pence after the U.K.-based financial services provider reported total revenues in the year ending in December surged 14.8% to £60.13 million from £52.37 million a year ago period.

Net profit in the year surged 64.4% form a year ago to £2.22 billion compared to £1.35 billion and diluted earnings per share climbed to 86.8 pence from 52.7 pence in the same period a year ago.

RWE AG slipped 1.9% to €23.86 after the Germany-based electricity and gas distributor stated revenues in the year ending in December declined 7.5% to €48.47 billion from €82.42 billion a year ago period.

Net in the year swung to profit from a year ago to €1.70 billion compared to a loss of €2.76 billion and diluted earnings per share swung to €2.77 from diluted loss per share of €4.49.

The energy company forecasted operating earnings to drop as much as 14% to between €6.1 billion and €6.4 billion this year.

Symrise AG gained 2% to €58 after the Germany-based fragrances and flavors products maker said sales in the year ending in December jumped 18% to €2.12 billion from €1.83 billion a year ago period.

Net profit in the year climbed 7.4% from a year ago to €211.6 million compared to €172.3 million and diluted earnings per share increased to €1.69 from €1.46.

The company forecasted EBITDA margin for the fiscal 2015 to climb to more than 20%.