Market Updates
Europe Movers: Adecco, Aixtron, Bayer, Credit Suisse
Bridgette Randall
28 Feb, 2023
Frankfurt
Credit Suisse Group AG increased 0.6% to sfr 2.85 and recovered from the loss of 2% and the Swiss financial regulator FINMA said the bank "seriously breached its supervisory obligations" in its transactions with Australian businessman Lex Greensill.
Greensill filed for financial bankruptcy protection after the supply chain financial products provider's subsidiary in Germany was shuttered for financial irregularities.
Adecco Group declined 2.9% to sfr 33.46 after the Swiss-French recruitment services provider reported fourth quarter net income plunged 65% to Є65 million from Є185 million a year ago.
Bayer AG declined 3.9% to €56.29 after the German pharmaceutical firm reported a sharp decline in earnings.
Fourth quarter earnings fell 47% to €611 million from €1.16 billion a year ago and revenue increased 4% to €12 billion from €11.1 billion in the period.
Diluted earnings per share declined to 62 cents from €1.18 a year ago.
Full-year revenue increased 8.7% to €50.7 billion and net income increased to 4.1 billion from 1.0 billion and diluted earnings per share rose to €4.22 from €1.02 a year ago.
Aitron SE increased 12.1% to €29.13 after the maker of advanced semiconductor chip equipment reported an improvement in sales and earnings.
Revenue in the fourth quarter slightly improved to €183.2 million from €180.9 million and in the full-year 2022 increased 8% to €463.2 million.
Consolidated net profit for the year 2022 grew by 6% to €100.5 million from €94.8 million and earnings per share improved to €0.89 from €0.85 in 2021.
Annual Returns
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Earnings
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