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Market Update

Europe Earnings: Allianz, Compass, ITV, Nordex, RWE


Author: Nigel Thomas
ticker.com
Last Update: 10:33 AM ET May 14 2014

4:00 PM Frankfurt Allianz net dropped 4% to 1.6 billion and revenue rose. Compass profit jumped 3% to 595 million. ITV said revenue rose 1% to 672 million. Nordex net swung to profit and new orders surged 71%. RWE net plunged 27% to 995 million.

In London trading, FTSE 100 index slipped 0.1% or 6.63 to 6,866.45 and in Frankfurt the DAX index slid 0.08% or 7.94 to 9,746.49.

In Paris, CAC 40 index fell 0.05% or 2.44 to 4,502.58.

Allianz SE rose 0.8% to 122.95 after the Germany-based insurance and financial services provider reported total revenue in the first-quarter ending in March jumped 6% to 33.96 billion from 32.05 billion a year ago.

Net income in the quarter dropped 3.9% to 1.64 billion compared to 1.71 billion and diluted earnings per share slipped 3.8% to 3.55 from 3.69 a year earlier.

Compass Group Plc jumped 2.2% to 1,001.88 pence after the U.K.-based food and hospitality services provider stated revenue in the first-half ending in March climbed 4.2% to 8.66 billion from 8.31 billion a year ago period.

Profit in the period jumped 3.5% to 595 million compared to 575 million and earnings per share increased 7.4% to 24.8 pence from 23.1 pence a year earlier.

ITV Plc declined 6.3% to 178.90 pence after the U.K.-based broadcasting company said total revenue in the first-quarter ending in March rose 1% to 672 million from 666 million a year ago.

The company said revenues from broadcast and online business jumped 3% at 480 million from 465 million and revenues from ITV studios segment dropped 4% to 192 million compared to 201 million a year ago.

Nordex SE surged 11.4% to 14.32 after the Germany-based wind turbines maker said sales in the first-quarter ending in first-quarter ending in March climbed 64% to 424.5 million form 259 million a year ago period.

Net in the quarter swung to a profit 9.1 million compared to loss of 8.4 million a year earlier.

Nordex said order intake in the quarter climbed 71% to 562 million from 328 million in the last year.

The company forecasted revenue for the year to increase to 1.6 billion from 1.5 billion a year ago.

RWE AG dropped 2.6% to 26.91 after the Germany-based electricity and gas producer reported revenue in the first-quarter ending in March declined 8.6% to 14.66 billion from 16.05 billion a year ago.

Net income in the quarter plunged 27.2% to 995 million compared to 1.37 billion and earnings per share slumped 27% to 1.62 from 2.22 a year earlier.

For the year, RWE estimated net debt to drop to 26 billion compared to 30.7 billion a year ago.

The company forecasted EBITDA between 6.4 billion to 6.8 billion and operating earnings between 3.9 billion and 4.3 billion and revised range for recurrent net income between 1.2 billion and 1.4 billion.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc