Kuka Expands Business in China, Zooplus Profit hurts by Higher Spending

Sarla Buch
22 Mar, 2018
New York City

Freenet annual profit surged 27% on 5% jump in revenues. Kuka plans to expand its business in China. Trigano said full-year revenues surged after strong segment performance. Zooplus profit tumbled on higher spending.

[R]4:00 PM Frankfurt – Freenet annual profit surged 27% on 5% jump in revenues. Kuka plans to expand its business in China. Trigano said full-year revenues surged after strong segment performance. Zooplus profit tumbled on higher spending.[/R]

In London trading, FTSE 100 index declined 111.73 or 1.6% to 6,927.66 and in Frankfurt the DAX index slumped 239.14 or 1.9% to 12,069.03.

In Paris, CAC 40 index plunged 102.96 or 1.9% to 5,135.92.

Freenet AG declined 4.9% to €24.12 after Germany-based communications and web content provider said revenues in the year ending in December advanced 4.5% from a year ago to €3.5 billion.

Net income in the year surged 27.4% to €275.6 million from €216.4 million in a year ago period and diluted earnings per share increased to €2.24 from €1.60.

Freenet said gross profit in the year jumped 5.7% to €949.8 million and operating profit soared 24.8% to €373 million from a year ago period.

Kuka AG slipped 0.6% to €93.70 after Germany-based industrial robots maker today said it entered into a strategic partnership with the domestic HOMAG Group, the supplier of integrated solutions for production in the wood processing industry.

Separately, Kuka said its plans to consolidate its China-based general industry business and the Chinese Swisslog business by setting up joint ventures with Midea Group companies. The company also forecasted to produce 75,000 robotic units a year.

Trigano SA slipped 0.7% to €153 after France-based recreational vehicles and equipment maker reported revenues in the first-half ending in February surged 46.3% from a year ago to €1.1 billion after production capacities improved.

Revenues in the leisure vehicles segment soared 49.7% to €1 billion and revenues in the leisure equipment business jumped 12.4% to €76.4 million from a year ago period, after the company integrated Adria and Auto-Sleepers segments, global sales surged 38.5%.

Zooplus AG plunged 8.3% to €165.10 after Germany-based on-line pet food retailer said revenues in the year ending in December soared 22.2% from a year ago to €1.1 billion.

Net income in the year tumbled to €1.9 million from €11.4 million in a year ago period and diluted earnings per share slumped to €0.27 from €1.60.

Zooplus said gross margin in the year dropped 24.4% from 25% and operating profit declined 55.3% €8.8 million but number of employees increased 32.6% to 512 from 386 in a year ago period.