BMW and Porsche Report Strong Results, Deutsche Wohnen Net Soars

Sarla Buch
21 Mar, 2017
New York City

BMW net jumped 8% and said Brexit plan will determine the future of its operations in the U.K. Coca-Cola European Partners net jumped 7%. Deutsche Wohnen net surged and expects property values to jump in 2017. Fuchs Petrolub net soared. Porsche net swung to profit to

[R]4:00 PM Frankfurt – BMW net jumped 8% and said Brexit plan will determine the future of its operations in the U.K. Coca-Cola European Partners net jumped 7%. Deutsche Wohnen net surged and expects property values to jump in 2017. Fuchs Petrolub net soared. Porsche net swung to profit to €1.4 billion.[/R]

In London trading, FTSE 100 index fell 12.74 or 0.2% to 7,417.61 and in Frankfurt the DAX index increased 53.78 or 0.5% to 12,107.02.

In Paris, CAC 40 index advanced 39.05 or 0.8% to 5,051.70.

Atento SA, the Luxembourg-based business-process outsourcing services provider agreed to acquire a majority stake in Brazil-based rival Interfile. Financial terms of the transaction were not disclosed.

Bayerische Motoren Werke AG gained 1.7% to €83.86 after Germany-based automobiles maker reported revenues in the year ending in December increased 2.1% from a year ago to €94.2 billion.

Net profit in the year jumped 7.8% from a year ago to €6.9 billion from €6.4 billion and diluted earnings per share advanced to €10.47 from €9.72.

“Our production network offers flexibility,” as “the UK remains an important location for us. Much will depend on how Brexit is ultimately negotiated,” chief executive officer Harald Krueger said.

In 2017, BMW said it is offering more than 20 new BMW, MINI and Rolls- Royce models.

Coca-Cola European Partners Plc, the U.K.-based privately held Coca-Cola bottle producer reported revenues in the year ending in December surged 44.5% from a year ago to €9.1 billion.

Net income in the period jumped 7% from a year ago to €549 million from €513 million while diluted earnings per share dropped to €1.42 from €2.19.

For 2017, CCEP affirms prior guidance, including expectations of modest low single-digit revenue growth, with operating profit and diluted earnings per share growth to be in high single-digits.

The company expects 2017 free cash flow in the range of €700 million to €800 million.

Deutsche Wohnen AG slumped 2.2% to €31.20 after Germany-based real estate developer and operator said rental income in the year ending in December soared 11.1% from a year ago to €704.5 million.

Net profit in the year surged 33.3% from a year ago to €1.6 billion from €1.2 billion and diluted earnings per share advanced to €10.47 from €9.72.

The real estate developer said profit increase was driven by gains from the fair-value adjustments of investment properties to €2.7 billion from €1.7 billion in a year ago.

Fuchs Petrolub SE edged up 0.1% to €38.08 after Germany-based engine and gear oils producer said revenues in the year ending in December jumped 9% from a year ago to €2.3 billion.

Net profit in the year soared 10% from a year ago to €260 million from €236 million and diluted earnings per share increased to €1.86 from €1.69.

The lubricants maker said revenues and profit rose mainly due to acquisitions of Pentosin and Statoil Fuel & Retail Lubricants in last year and growth was in the Europe and Asia-Pacific regions.

The engine and gear oils producer reaffirmed sales revenues growth in fiscal 2017 between 4% and 6%.

Porsche Automobil Holding SE slipped 0.2% to €50.95 after Germany-based sports cars maker said net in the year swung to €1.4 billion profit from a loss of €308 million.

""The year 2016 was more for Volkswagen than dealing with the diesel crisis,"" chief executive officer Hans Dieter Poetsch said, who is also a chairman in Volkswagen.

Porsche estimated in fiscal 2017 net profit between €2.1 billion and €3.1 billion and as of December 2017, the company expects net liquidity between €1 billion and €1.5 billion, but lower than €1.7 billion in 2015.