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Air Berlin flies back into profit

February 22, 2013 03:15
Germany's second-largest airline Air Berlin said Friday that it posted a profit last year for the first time in five years thanks to cost-cutting measures. Air Berlin said in a statement it booked a net profit of 6.8 million euros ($9.0 million) in 2012 compared with a loss of 420.4 million euros a year earlier. At an underlying level, too, the carrier flew back into the black, with operating profit before interest and tax (EBIT) amounting to 70.2 million euros compared with a year-earlier loss of 247 million euros.

Casino supermarkets reports profit leap

February 21, 2013 10:31
French supermarket group Casino reported Thursday a surge of net profit for 2012 and was optimistic about prospects for 2013 owing to growth on international markets. Casino said that last year net profit surged by 84.4 percent to 1.06 billion euros ($1.4 billion). The group also presented what it termed standard results. These stripped out non-recurrent items and a gain after taking control of Brazilian company GPA, consolidated in the accounts in the second half of the year. This gave a net profit of 564 million euros, slightly down from 565 million euros in 2011.

Safran aero-engine group reports record profits

February 21, 2013 06:45
French aero-engine maker Safran reported on Thursday a record net profit of nearly 1.0 billion euros ($1.32 billion) in 2012, an increase of 55.0-percent from the 2011 level, and said that the outlook for this year was "very good". Sales were boosted by strong demand from the aircraft-making sector and rose to 13.5 billion euros, an increase of 15.5 percent compared with a target of slightly more than 10.0 percent. Current operating profit rose by 23.7 percent, beating the group's target of 20.0 percent.

AXA reports firm underlying 2012 results, share falls

February 21, 2013 05:46
French insurance group AXA reported a 1.0-percent slip in net profits for 2012 on Thursday despite a sharp rise in profitability. But results for 2011 had been boosted by big exceptional capital gains, which skewed the comparison with the results for 2012. Net profit last year amounted to 4.15 billion euros ($5.5 billion), short of the figure of 4.6 billion euros broadly expected by analysts in their broker notes. Excluding the impact of capital gains in 2011 and 2012, net profit rose by 13.0 percent to 4.25 billion euros.

AXA reports strong underlying results in 2012

February 21, 2013 05:30
French insurance group AXA reported a 1.0-percent slip in net profits for 2012 on Thursday despite a sharp rise in profitability. But results for 2011 had been boosted by big exceptional capital gains, which skewed the comparison with the results for 2012. Net profit last year amounted to 4.15 billion euros ($5.5 billion), short of the figure of 4.6 billion euros broadly expected by analysts in their broker notes. Excluding the impact of capital gains in 2011 and 2012, net profit rose by 13.0 percent to 4.25 billion euros.

Deutsche Boerse cautious after profits down in 2012

February 20, 2013 09:45
German stock market operator Deutsche Boerse expressed caution on Wednesday for the outlook for the current year after earnings were hit last year by the "challenging" market environment. "If the situation on the capital markets improves, we see net revenues of more than 2.0 billion euros ($2.7 billion) this year," compared with 1.93 billion euros in 2012, finance chief Gregor Pottmeyer told a news conference here.

Deutsche Boerse says net profit down in 2012

February 20, 2013 04:15
German stock market operator Deutsche Boerse said earnings were hit last year by the "challenging market environment". Deutsche Boerse said in a statement late Tuesday that group net profit fell by 24.6 percent to 645 million euros ($866 million). Net revenues were down 8.9 percent at 1.932 billion euros and operating profit, as measured by earnings before interest and tax (EBIT), fell by 16.6 percent to 969.4 million euros.

Gas Natural posts annual profit rise on Latin America

February 19, 2013 09:31
Spanish energy group Gas Natural posted Tuesday an 8.8-percent rise in its 2012 net proft owing mainly to higher sales in Latin America and cost-cutting measures. The company, Spain's biggest gas supplier, said its net profit last year totalled 1.441 billion euros ($1.923 billion), up from 1.325 billion euros in 2011. Net turnover rose 14.4 percent to 24.904 billion euros while earnings before interest, taxes, depreciation, and amortisation (EBITDA) -- a key measure of profitability -- rose 9.4 percent to 5.080 billion euros.

Michelin reports profit rise, cautious for this year

February 12, 2013 08:46
French tyre-making giant Michelin reported on Tuesday a 7.4-percent rise in net profit in 2012 with a boost from capital gains but was cautious about this year while holding medium-term targets. The group reported a rise in net profit from the 2011 level to 1.6 billion euros ($2.14 billion) and said that operating profit before non-recurrent items surged by 25.0 percent to 2.4 billion euros. But the price of shares in the company fell by 3.73 percent in early trading to 69.99 euros, marking the biggest fall on the CAC 40 index which was down overall by 0.23 percent.

Michelin reports profit rise, cautious for this year

February 12, 2013 08:15
French tyre-making giant Michelin reported on Tuesday a 7.4-percent rise in net profit in 2012 with a boost from capital gains but was cautious about this year while holding medium-term targets. The group reported a rise in net profit from the 2011 level to 1.6 billion euros ($2.14 billion) and said that operating profit before non-recurrent items surged by 25.0 percent to 2.4 billion euros. The group said that the outcome reflected effective pricing, the strength of a global presence and a limited impact from the price of raw materials.
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