BMW 2018 Profit Soars, Hermes Hikes Dividend and Reports Record Margins

Sarla Buch
21 Mar, 2018
New York City

BMW forecasted 2018 revenue and deliveries to slightly increase. Hermes International profit surged 11% on strong business in hand bag segments. Viscom reported record revenues but net loss widened.

[R]4:00 PM Frankfurt – BMW forecasted 2018 revenue and deliveries to slightly increase. Hermes International profit surged 11% on strong business in hand bag segments. Viscom reported record revenues but net loss widened.[/R]

In London trading, FTSE 100 index rose 28.91 or 0.4% to 7,071.84 and in Frankfurt the DAX index gained 54.84 or 0.5% to 12,272.87.

In Paris, CAC 40 index increased 13.17 or 0.3% to 5,236.33.

4SC AG declined 3.9% to €7.95 after Germany-based small-molecule drugs maker said revenues in the year ending in December more than doubled from a year ago to €4.2 million.

Net loss in the year narrowed to €10.9 million from €11.2 million in a year ago period and diluted loss per share fell to €0.45 from €0.59.

Bayerische Motoren Werke AG gained 0.1% to €86.05 after Germany-based automobiles and motorcycles maker said revenues in the year ending in December jumped 4.8% from a year ago to €98.7 billion.

Net profit in the year soared 24.6% to €8.6 billion from €6.9 billion in a year ago period and diluted earnings per share advanced to €13.12 from €10.45.

BMW said pretax profit in the year surged 10.3% to €10.3 billion from a year ago period and the automaker is planning to spend record research and development expense up to €7 billion or $8.6 billion to launch 25 electrified models by 2025.

In fiscal 2018, the automobiles maker forecasted despite higher spending, group pre-tax profit of more than €10 billion.

Hermes International S.A advanced 2.6% to €464.90 after France-based high fashion luxury goods manufacturer reported revenues in the year ending in December increased 6.7% from a year ago to €5.5 billion.

Net profit in the year surged 10.9% to €1.2 billion from €1.1 billion in a year ago period and diluted earnings per share advanced to €13.12 from €10.45.

The luxury brand said operating income jumped 13% to €1.9 billion after stronger sales in Birkin and Kelly bags segments.

Viscom AG plunged 5.9% to €27.20 after Germany-based optical and X-ray inspection systems maker said revenues in the year ending in December soared 14.2% from a year ago to €91.1 million.

Net loss in the year widened to €9.1 million from €7.1 million in a year ago period and diluted earnings per share increased to €0.61 from €0.60.