(Alliance News) - The following is a round-up of earnings and trading updates by Global companies, issued last week and not separately reported by Alliance News:
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Murata Manufacturing Co Ltd - Kyoto-based manufacturer electric components - Reports an 8.6% fall in net sales in three months to June 30, its first quarter. Sales slipped to JPY326.80 billion, about USD3.09 billion. Pretax profit falls 15% year-on-year to JPY53.92 billion from JPY63.24 billion. "Although the resumption of economic activities is making progress in many countries around the world, the outlook remains extremely uncertain due to growing concerns about a second wave of infections and the ongoing trade friction between the United States and China, which started last year," Murata says.
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Nemetschek SE - construction and infrastructure software firm in Munich - Revenue in the first half of 2020 climbs 7.6% to EUR288.2 million from EUR267.7 million in the year prior. Net income inches 2.6% higher to EUR42.5 million from EUR41.4 million. "After the corona crisis left its mark in the second quarter, especially in Europe, it is not yet possible to foresee the effects of the pandemic in the USA, where the crisis has spread much more strongly than in other parts of the world and at a later point in time. Nemetschek anticipates hurdles in this regard in the US market in the second half of the year," the company says.
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General Motors Co - Detroit-based vehicles and parts manufacturer - Reports construction of a joint-venture battery plant in Lordstown, Ohio is progressing on schedule. Plant will manufacture batteries for electric vehicles, creating 1,100 jobs in the process. Separately, GM plans to add more than 2,700 electric vehicle chargers in the US alongside EVgo.
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Legrand SA - infrastructure firm based in Limoges, France - Sales in the first half ended June 30 fall 12% year-on-year to EUR2.83 billion from EUR3.23 billion. Legrand's pretax profit drops 30% to EUR401.0 million from EUR581.0 million. "The outlook for the global health situation and the world economy remains particularly unpredictable. In this context, and subject to a favourable trend in the global health situation, net sales in the second half of the year should see a sequential improvement compared with the second quarter," Legrand says.
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Siemens AG - industrial firm based in Munich - Selected by Saudi Arabian Oil Co, or Saudi Aramco, to provide compressors at a gas storage project.
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Compagnie de Saint-Gobain SA - Building materials firm located in La Defense - First half sales drop 18% to EUR17.76 billion from EUR21.68 billion a year ago. Like-for-like sales during the six months ended June are 12% lower. Swings to net loss of EUR434 million from EUR689 million profit
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Boeing Co - aerospace and defence firm in Chicago - Secures USD265 million Chinook helicopter order from US army. "Boeing is now on contract for 24 of the next-generation Chinooks," it says. "The MH-47G Block II Chinook features an improved structure and weight reduction initiatives like new lighter weight fuel pods that increase performance, efficiency, and commonality across the fleet."
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Engie SA - utility firm headquartered in La Defense, France - Posts a 9.3% revenue slip to EUR27.43 billion from EUR30.25 billion a year prior. Net income almost wiped out to EUR24 million from EUR2.08 billion.
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Takeda Pharmaceutical Co Ltd - Tokyo-based pharmaceutical firm - Granted breakthrough designation for Pevonedistat by US Food & Drug Administration. Designation is for treatment of myelodysplastic syndromes, a blood cancer.
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Vertex Pharmaceuticals Inc - Boston-based pharmaceuticals firm - Revenue in three months to June 30, its second quarter, rises 62% to EUR1.52 billion from EUR940 million a year ago. Net income more than trebles to EUR837 million from EUR267million. Boosts 2020 revenue forecast to between EUR5.7 billion and EUR5.9 billion from previous range of EUR5.3 billion between EUR5.6 billion.
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Lonza Group Ltd - Basel, Switzerland-based chemicals and biotechnology company - Notes that 10 disinfectant ingredients secured approval from the Environmental Protection Agency in the US for use on surfaces in order to fight SARS-CoV-2.
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EssilorLuxottica SA - Charenton-le-Pont-based owner of the Ray-ban glasses brand - Revenue in first six months of 2020 tumbles 29% to EUR6.23 billion from EUR8.78 billion. Essilor swings to a pretax loss of EUR460 million from EUR971 million profit a year ago. Also reports that optical retailer GrandVision, as well as its investor HAL, have stated their intent to open arbitration proceedings against Essilor. "EssilorLuxottica regards these arbitration proceedings as a surprising and obvious attempt by HAL and GrandVision to detract from GrandVision's breaches under the Support Agreement and its failure to provide EssilorLuxottica with required information," the company says. A court hearing is scheduled on August 10.
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Woolworths Ltd - Retailer based in Bella Vista, Australia - Imposes an indefinite lock out from last Friday at its Wyong warehouse amid a dispute with the United Workers' Union. Woolworths notes the UWU rejected its proposal for a 3.6% annual pay rise to all team members during each year of a wage agreement. UWU is pushing for a 5.4% annual rise.
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ProSiebenSat.1 Media SE - German media firm based in Unterfoehring - Revenue in half year ended June 30 down 12% annually to EUR1.63 billion from EUR186 billion, with revenue falling 25% alone in second quarter. ProSieben swings to a first half net loss of EUR30 million from a EUR215 million profit. Earnings deterioration mainly due to decline in advertising revenue, but company has since seen a bounce.
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Poste Italiane Spa - Italian postal service provider - Swings to a net loss of EUR135 million from EUR50 million profit during first half of 2020. Revenue in the half slips 7.9% annually to EUR5.08 billion from EUR5.52 billion. Second-quarter revenue alone tumbles 13% to EUR2.33 billion. Poste Italiane says: "We are assessing and executing significant cost reduction initiatives with the aim of preserving long term profitability, with the second quarter already benefiting from some of these actions."
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By Eric Cunha; ericcunha@alliancenews.com
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