Innogy Surges on RWE, E.ON Asset Swap Deal; Aryzta and GEA Ease

Sarla Buch
12 Mar, 2018
New York City

Aryzta dropped after first-half net loss widened. GEA Group net plunged but orders increased. Hypoport soared on better-than-expected results. RWE and E.ON agreed to an asset swap deal involving Innogy SE stake.

[R]4:00 PM Frankfurt – Aryzta dropped after first-half net loss widened. GEA Group net plunged but orders increased. Hypoport soared on better-than-expected results. RWE and E.ON agreed to an asset swap deal involving Innogy SE stake.[/R]

In London trading, FTSE 100 index fell 17.44 or 0.2% to 7,206.91 and in Frankfurt the DAX index rose 46.32 or 0.4% to 12,393.01.

In Paris, CAC 40 index edged down 1.36 to 5,273.04.

Aryzta AG dropped 2.6% to 23.28 Swiss francs after Switzerland-based specialty bakery products maker said revenues in the first-half ending in January slumped 6.3% from a year ago to €1.8 billion.

Net loss the period widened to €196.9 million from €141 million in a year ago period and diluted loss per share increased to €0.24 from €0.18.

GEA Group AG declined 3.4% to €37.54 after Germany-based food and energy processes equipment provider reported revenues in the year ending in December advanced 2.5% from a year ago to €4.6 billion.

Net income in the year plunged 14.5% to €243.3 million from €284.6 million in a year ago period and diluted earnings per share increased to €1.31 from €1.48.

GEA said in fiscal 2017new order increased 1.7% from a year ago to €4.8 billion.

The industrial technology provider forecasted fiscal 2018 revenue growth in the range of 5% to 6% driven by its two latest acquisitions and operating margin between 12% and 13% and operating cash flow margin in the range of 8.7% to 9.7%.

Hypoport AG soared 5.4% to €132.80 after Germany-based financial products and services provider said revenues in the year ending in December surged 24% from a year ago to €195 million and operating profit was flat at €23.3 million.

In fiscal 2018, Hypoport estimated revenue growth in the range of €220 million to €240 million and operating profit in the range of €26 million to €31 million.

RWE AG surged 8.1% to €19.46 after Germany-based electricity and natural gas supplier agreed for asset swap with energy network provider E.ON under which RWE will sell its stake of 76.8% in Innogy SE for 16.67% stake in E.ON.

Under the terms, RWE’s stake sale was valued at €40 per share including dividends of €3.24 per share.