Ferrari Profit Jumps 49%, Siemens Healthineers Estimates Improving Results

Sarla Buch
05 Nov, 2018
New York City

bet-at-home.com net plunged 9% on 4% drop in revenues. Basler, advanced digital camera maker said profit declined 19% on weak revenues. Ferrari profit surged but the income fell short of expectations. Siemens Healthineers forecasted strong growth ahead.

[R]4:00 PM Frankfurt – bet-at-home.com net plunged 9% on 4% drop in revenues. Basler, advanced digital camera maker said profit declined 19% on weak revenues. Ferrari profit surged but the income fell short of expectations. Siemens Healthineers forecasted strong growth ahead.[/R]

In London trading, FTSE 100 index increased 39.35 or 0.6% to 7,133.07 and in Frankfurt the DAX index rose 12.55 to 11,531.54.

In Paris, CAC 40 index increased 14.21 or 0.3% to 5,115.90.

bet-at-home.com AG fell 0.3% to €58.25 after Germany-based online gambling and sports betting services provider said revenues in the nine-month period ending in September declined 4.1% from a year ago to €108.7 million.

Net profit in the period plunged 9.4% to €15.9 million from €14.4 million in a year ago period.

The online betting services provider said operating profit in the period slumped 5.9% to €23.9 million from a year ago period.

Bet-at-home.com forecasted fiscal 2018 revenues to increase to €150 million and operating profit between €36 million and €40 million.

Basler AG slipped 1.7% to €159 after Germany-based high-quality digital camera maker reported sales in the nine-month period ending in September dropped 4% from a year ago to €116.4 million.

Profit in the period declined 19% to €23.2 million from €28.8 million and total orders in the period slumped 11% to €112.2 million from €126.4 million in the same period a year ago period.

Ferrari NV slumped 2.7% to $116.36 after Italy-based luxury sports car manufacturer reported revenues in the year ending in September dropped 2% from a year ago to €2.6 billion.

Net profit in the period surged 49% to €596 million from €401 million in a year ago period and diluted earnings per share advanced to €3.14 from €2.11.

Ferrari operating profit soared 8% to €841 million and as of September 30, net debt declined 21.4% to €372 million from a year ago period.

The luxury sports car maker forecasted fiscal 2018 net revenues of more than €3.4 billion and operating profit of above €1.1 billion and shipments of more than 9,000 vehicles.

Ferrari forecasted fiscal 2022 revenues of €5 billion compared to €3.4 billion in 2017.

Siemens Healthineers AG jumped 2.6% to €37.08 after Germany-based medical technology provider reported revenues in the year ending in September fell 1.8% from a year ago to €13.4 billion.

Net profit in the period declined 8.6% to €1.3 billion from €1.4 billion in a year ago period and diluted earnings per share dropped to €1.26 from €1.38.

The healthcare providers said revenues in the imaging segment soared 6% to €2.3 billion and revenues in advanced therapies segment jumped 4% to €407 million.

The medical technology provider forecasted fiscal 2018 revenues growth in the range of 4% to 5% and profit margin growth in the range of 17.5% to 18.5% and diluted earnings per share growth between 20% and 30%.