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Market Update

Europe Earnings: Bauer, Givaudan, Kaufman, Restaurant Group, Volkswagen

Author: Nigel Thomas
Last Update: 10:54 AM ET April 11 2014

4:00 PM Frankfurt – Bauer net in the year swung to a loss €19 million but revenue climbed 5%. Givaudan sales slid 0.2% to 1.1 billion francs. Kaufman & Broad net plunged 24%. Restaurant Group profit surged 17% to £56 million. Volkswagen sales in March soared 8%.

In London trading, FTSE 100 index slumped 1.5% or 99.96 to 6,542.01 and in Frankfurt the DAX index declined 1.9% or 183.10 to 9,271.44.

In Paris, CAC 40 index dropped 1.7% or 77.14 to 4,336.35.

Bauer AG declined 5.2% to €18.66 after the Germany-based construction and machinery maker said revenue in the year ending in December climbed 4.5% to €1.40 billion from €1.34 billion a year ago.

Net in the year swung to a loss €19.4 million compared to a profit of €25.8 million a year earlier.

Givaudan SA slumped 2% to 1,376 francs after the Switzerland-based fragrance and flavor manufacture stated sales in the first-quarter ending in March slid 0.2% to 1.09 billion francs from 1.10 billion francs a year ago.

The company said sales from fragrance segment fell 0.2% to 516 million francs and sales from the flavor segment slid 0.1% to 571 million francs from a year earlier.

Kaufman & Broad SA slid 0.1% to €22.80 France-based property developer and builder reported total revenue in the first-quarter ending in February was flat at €205.2 million from €205 million a year ago.

Net income in the quarter plunged 24% to €6.3 million compared to €8.3 million a year earlier.

The Restaurant Group Plc dropped 2.1% to 642 pence after the U.K.-based restaurants and pub operator said revenue in the year ending in December climbed 8.8% to £579.6 million from £532.5 million a year ago.

Profit in the year surged 16.6% to £56.2 million compared to £48.2 million and diluted earnings per share rose to 27.97 pence from 24.05 pence a year earlier.

Volkswagen AG slipped 1.9% to €188.80 after the Germany-based auto maker reported sales in March soared 7.6% to 929,500 vehicles and in the first-quarter to the month group sales climbed 5.8% to 2.40 million vehicles compared to 2.27 million vehicles a years ago period.

In the first-quarter, Volkswagen group sales in Europe jumped 8.7% and surged 14.5% in China. Sales at Volkswagen namesake brand increased 3.9% to 1.48 million vehicles in the period.

ŠKODA AUTO in the first quarter sales soared 12.1% to 247,200 vehicles. In March, sales climbed 14.6% to 96,100 vehicles compared to 83,800 vehicles a year ago, the best March month in corporate history.

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