Air Liquide Sales Jump on China Demand, Heineken Cautious on Outlook

Sarla Buch
30 Jul, 2018
New York City

Air Liquide profit soared on double-digit growth in China. Heineken reported weaker-than-expected results. GEA profit plunged 38% but revenues jumped. Heineken declined on cautious fiscal outlook. Siemens Healthineers profit declined on weak revenues.

[R]4:00 PM Frankfurt – Air Liquide profit soared on double-digit growth in China. Heineken reported weaker-than-expected results. GEA profit plunged 38% but revenues jumped. Heineken declined on cautious fiscal outlook. Siemens Healthineers profit declined on weak revenues.[/R]

In London trading, FTSE 100 index edged down 3.57 to 7,697.97 and in Frankfurt the DAX index slipped 48.21 or 0.4% to 12,812.19.

In Paris, CAC 40 index fell 13.33 or 0.3% to 5,498.43.

Air Liquide S.A dropped 2.6% to €108.60 after France-based industrial and medical gas producer said revenues in the first-half ending in June slipped 1.3% from a year ago to €10.2 billion.

Net income in the period soared 12.1% to €1 billion from €928 million in the same period a year ago and diluted earnings per share jumped to €2.43 from €2.17.

The industrial gas producer said revenues in the Asia-Pacific region advanced 8.8% to €2.1 billion driven by 10% growth in China and strong demand in new molecules and high sales in equipment and installation.

GEA Group AG soared 7.1% to €34 after Germany-based food process technology provider reported revenues in the first-half ending in June jumped 5.8% from a year ago to €2.3 billion.

Net income in the period plunged 38.2% to €68.5 million from €110.8 million in the same period a year ago and diluted earnings per share slumped to €0.38 from €0.58.

GEA said as of June 30, new orders in the period advanced 4.6% to €2.5 billion from a year ago period.

Heineken NV declined 5.2% to €87.52 after the Netherlands-based beer maker reported revenues in the first-half ending in June advanced 4.2% from a year ago to €10.8 billion.

Net income in the period jumped 9.1% to €950 million from €871 million in the same period a year ago and diluted earnings per share increased to €1.89 from €1.82.

The brewer forecasted fiscal 2018 revenue growth is expected “to continue” and operating profit growth “to accelerate” in the second-half but economic conditions remain volatile and negative currency effects impacted revenue and operating profit.

Siemens Healthineers AG slipped 1.8% to €38.45 after Germany-based medical technology provider reported revenues in the nine-month period ending in June dropped 3% from a year ago to €9.7 billion.

Net income in the period declined 9% to €895 million from €979 million in the same period a year ago and diluted earnings per share slipped to €0.90 from €0.98.