Pension Hurt Positive Quarter at Air France, Renault Reports Record Profit

Sarla Buch
16 Feb, 2018
New York City

Air France KLM reported rising revenues and plans to expand capacity but pension costs hurt quarterly results. EDF estimated profit to rebound on higher power prices. Pfeiffer Vacuum revenues surged. Renault reported record 2017 earnings on higher vehicle sales.

[R]4:00 PM Frankfurt – Air France KLM reported rising revenues and plans to expand capacity but pension costs hurt quarterly results. EDF estimated profit to rebound on higher power prices. Pfeiffer Vacuum revenues surged. Renault reported record 2017 earnings on higher vehicle sales.[/R]

In London trading, FTSE 100 index jumped 63.79 or 0.9% to 7,298.88 and in Frankfurt the DAX index increased 89.03 or 0.7% to 12,434.76.

In Paris, CAC 40 index advanced 53.20 or 1% to 5,275.97.

For the week, FTSE 100 index soared 2.9%, the DAX index jumped 2.7% and the CAC 40 index surged 3.9%.

Air France KLM SA plunged 7.3% to €9.92 after France-based airline services provider reported revenues in the year ending in December jumped 4% from a year ago to €25.8 billion.

Net in the year swung to a loss of €274 million from €792 million profit in a year ago period and diluted loss per share swung to €0.81 from diluted earnings per share of €2.25.

Electricite de France SA soared 4.8% to €10.62 after France-based electricity producer distributor said revenues in the year ending in December fell 2.2% from a year ago to €69.6 billion.

Net income in the year soared 10.3% to €3.2 billion from €2.9 billion in a year ago period and diluted earnings per share fell to €0.98 from €1.15.

Faurecia SA declined 3.6% to €68.10 after France-based automobile equipment provider said revenues in the year ending in December soared 8% from a year ago to €20.2 billion.

Net profit in the year dropped 4.3% to €610.2 million from €637.8 million in a year ago period and diluted earnings per share to €4.42 from €4.65.

The vehicle interiors provider forecasted fiscal 2018 sales growth of at least 7% and diluted earnings per share of about €5 and net cash flow of €500 million.

Pfeiffer Vacuum Technology AG slumped 3.1% to €153.50 after Germany-based vacuum solutions provider said revenues in the year ending in December surged 24% from a year ago to €587 million.

Net profit in the year jumped 8.7% to €73.9 million from €68 million in a year ago period and diluted earnings per share to €4.42 from €4.65.

Renault SA advanced 2% to €87.79 after France-based automaker reported group revenues in the year ending in December jumped 14.7% from a year ago to €58.8 billion.

Net income in the year surged 47.1% to €5.2 billion from €3.5 billion in a year ago period and diluted earnings per share soared to €18.68 from €12.46.

The automaker said registration in the year increased 8.5% to 3.76 million units.