Iliad Subscriber Count Jumps, Wacker Chemie Drops on Weak Forecast

Sarla Buch
13 Mar, 2018
New York City

Bilfinger net tumbled but revenues soared 9%. Hannover Rueck net swung to a loss and revenues declined 5%. Iliad profit surged after mobile subscribers jumped 8%. Wacker Chemie declined on weak profit and sales forecast.

[R]4:00 PM Frankfurt – Bilfinger net tumbled but revenues soared 9%. Hannover Rueck net swung to a loss and revenues declined 5%. Iliad profit surged after mobile subscribers jumped 8%. Wacker Chemie declined on weak profit and sales forecast.[/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.

Bilfinger SE increased 0.1% to €37.42 after Germany-based insurance services provider reported revenues in the year ending in December soared 8.8% from a year ago to €17.8 billion.

Net income in the year tumbled 18.2% to €958.6 million from €1.2 billion in a year ago period and diluted earnings per share slumped to €7.95 from €9.71.

Bilfinger forecasted fiscal 2017 net income of about €950 million from the earlier estimate of €800 million and increase in gross premium of about 9%.

The insurer estimated fiscal 2018 gross premium growth in the single-digit percentage range and return on investment of around 2.7% and group net income of about €1 billion.

Hannover Rueck SE dropped 3.5% to €110.80 after Germany-based industrial services provider said revenues in the year ending in December declined 4.9% from a year ago to €4 billion.

Net in the year swung to a loss of €88.5 million from profit of €270.6 million in a year ago period and diluted earnings per share swung to €1.24 loss from diluted earnings per share of €12.46.

Iliad SA plunged 8.7% to €180.05 after the France-based communications services provider reported revenues in the year ending in December jumped 5.6% from a year ago to €5 billion.

Net income in the year surged 19.3% to €480.3 million from €402.7 million in a year ago period.

Telecom services provider said total mobile subscribers in the year soared 7.9% to 13.7 million and total broadband and broadband subscribers increased 1.5% to 6.5 million from a year ago period.

Wacker Chemie AG plummeted 5% to €132.95 after the specialty chemical producer reported sales in the year ending in December advanced 6% from a year ago to €4.9 billion.

Net income in the year soared to €884.8 million from €189.3 million in a year ago period and diluted earnings per share jumped to €17.45 from €3.61.

In fiscal 2018, Wacker forecasted sales volume growth and higher product prices in the chemical division and operating profit to increase by mid-¬single ¬digit percentage from €1 billion in fiscal 2017 driven by sales to increase in low-single digit percentage.