Saturday, August 29, 2015

The 25 French Companies With Market Caps Between EUR 10 Bil and EUR 30 Bil, Just Like the Larger French Companies, Haven't Recovered From 2008-9 Financial Meltdown ..... 2014 Total Audited Earnings Down 27% From 2007 Peak Year Earnings

In an earlier recent post, from a review of the superb Google Finance Website and company investor relations websites, I found 17 Companies headquartered in France with Stock Market Capitalizations then of more than EURO 30 bil.  These 17 French Companies are way short of recovering from the 2008-9 worldwide financial meltdown, with their Total Audited Earnings in 2014 being 26% below 2007 peak year Total Audited Earnings for those same 17 French Companies.

Because this huge 26% earnings shortfall for French Companies seemed so unusual since large companies in other similar large countries had healthy Total Earnings Increases from 2007 to 2014 ..... Japan +36% and Germany +25%..... and also since larger Companies in the US had Total Earnings Increases from 2007 to 2014 of more than 50% and in Israel of close to 100%, I decided to take it one step further and see how French Companies with lower market caps came out on this same measure.

Guess what?  The 25 French Companies with stock market caps now between EUR 10 bil to EUR 30 bil had their 2014 Total Audited Earnings From Continuing Operations at an even worse 27% below 2007 peak year Total Earnings for these same 25 French Companies.

On the positive side, 2014 Total Audited Earnings From Continuing Operations for these 25 French Companies were 25% above 2013, mostly driven by a substantial drop in Peugeot's huge 2013 Loss.

Below here are the reported Audited Earnings (Losses) From Continuing Operations for each of  these 25 French Companies with Market Caps between EUR 10 bil and EUR 30 bil for all years reported from 2007 through 2014:
2014 2013 2012 2011 2010 2009 2008 2007

Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
French Companies 2014 Income Income Income Income Income Income Income Income
With Market Caps of EUR 10-30 Bil FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros










Renault SA Dec14       1,998          695       1,735       2,139       3,490     (3,068)          599       2,734
Carrefour SA Dec14       1,300       1,058          235     (1,713)          479          453       1,523       2,048
Natixis SA Dec14       1,214          883          947       1,601       1,769     (1,652)     (2,727)       1,590
Bouygues SA Dec14       1,064          755          728       1,237       1,263       1,442       1,686       1,593
Cie Gnrl des Etblsmnts Michelin SCA Dec14       1,031       1,127       1,571       1,462       1,049          104          357          772
Kering Dec14       1,028          865       1,358       1,028          815          331          654       1,090
Compagnie de Saint Gobain SA Dec14       1,000          632          796       1,360       1,213          241       1,437       1,543
Essilor International SA Dec14          986          646          630          518          472          399          389          371
Penrod Ricard SA Jun14          880       1,027       1,191       1,174       1,077          978          958          926
Thales SA Dec14          762          609          536          512        (108)        (202)          560          889
Publicis Groupe SA Dec14          734          809          759          629          551          417          478          476
SES SA Dec14          603          569          649          625          524          499          389          405
Capgemini SA Dec14          573          435          360          389          278          178          451          440
Legrand SA Dec14          533          533          507          479          420          291          352          423
Sodexo SA Aug14          509          462          550          471          430          422          397          363
Bollore SA Dec14          401          445          804          378          358          120            66          348
Veolia Environment VE SA Dec14          353          (80)              8     (1,013)          703          685          482       1,234
Dassault Systemes SA Dec14          292          355          339          291          221          170          201          177
Dassault Aviation SA Dec14          283          459          510          323          267          257          373          382
Iliad SA Dec14          278          265          187          252          313          176          100          136
Lafarge SA Dec14          274          707          538          244       1,094       1,046       1,939       2,038
Klepierre SA Dec14            70        (254)          262          198          182          208          234          231
Safran SA Dec14          (68)       1,415       1,326          494          533          415            39          142
Numericable SFR SA Dec14        (175)            65            86            69            27


Peugeot SA Dec14        (555)     (2,227)     (4,923)          784       1,256     (1,274)        (520)          826










Total all 25
    15,368     12,255     11,689     13,931     18,676       2,636     10,417     21,177










Earnings % Change:








….. 2014 vs 2013
25%






….. 2014 vs 2010
-18%






….. 2014 vs 2007
-27%














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