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Market Update

Europe Movers: Natixis Surges on Payout Plan, Carlsberg Falls on Weak Revenues

Author: Mukesh Buch
Last Update: 1:43 AM ET February 18 2013

2:00 PM Frankfurt – Carlsberg revenue drooped and profit declined 10%. Independent News & Media plc sold its South African business. Natixis agreed to sell assets to Banques Populaires and Caisses d’Epargne for €12.1 billion in cash.

In London trading, FTSE 100 index fell 0.3% or 18.06 to 6,310 and in Frankfurt, the DAX index gained 0.1% or 9.6 to 7,603. In Paris, CAC 40 index slid 0.1% or 4.5 to 3,656.

Carlsberg A/S declined 6.8% to 561 kronor after the Denmark based brewery and soft drink maker reported net revenue for the year ending in December slumped 6% to DKK67.2 million compared to DKK63.6 million in the same period of last year.

Net profit for the year dropped to 10% DKK6.24 million from DKK5.69 million and earnings per share slipped 9% to DKK36.8 compared to DKK33.8 from a year ago.

For the fourth quarter, net revenue dropped 8% to DKK15.9 million compared to DKK14.8 million in the same period of last year. Consolidated profit for the year swung DKK309 million from net loss of $2 million and earnings per share slipped to DKK1.3 compared to DKK5 from a year ago.

The company said European beer volumes in the fourth quarter declined 6% and Western European volumes grew 1%.Russian consumer in-market sales grew by 2% and Asian volume increased of 9% including acquisitions volumes were jumped 19%.

For 2013, the group expects to deliver operating profit of around DKK 10bn.

Independent News & Media plc slid 0.9% to £0.322 after the Ireland based media company agreed disposal of the South African business Sekunjalo Independent Media Consortium for the sale of INM South Africa for a consideration of 2 billion rands.

Natixis SA dropped 25.2% to €3.55 after the France based investment banking unit agreed to sell of all CCIs to Banques Populaires and Caisses d’Epargne for €12.1 billion.

The sale of cooperative certificates will simplify its capital structure and help simplify its parents’ capital structure. Banque Populaire and Caisse d”Epargne together through a Groupe BPCE control the investment bank Natixis.

After the sale, core tier 1 capital ratio under the international guidelines set by Basel III will increase to 9.2% from 9% in the current year.

Natixis plans to distribute the gains from the stake sale of 65 cents a share in addition to 10 cents a share dividend to shareholders. Natixis stock surged 23%, the most in 40 months.

Natixis added net revenues for the year slipped 9% €6.13 billion compared to €6.71 billion a year ago earlier. Net income tumbled 42% of €947 million from €1.63 billion a year ago.

For the fourth quarter, net revenue declined 11% to €1.53 billion from €1.73 billion a year ago period. Net income plunged 40% to €181 million compared to €302 million.

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