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Caribbean Global Market Update

Ferrari Profit Jumps 49%, Siemens Healthineers Estimates Improving Results

Author: Sarla Buch
Islandjournal.net
Last Update: 11:32 AM EST November 05 2018


4:00 PM Frankfurt bet-at-home.com net plunged 9% on 4% drop in revenues. Basler, advanced digital camera maker said profit declined 19% on weak revenues. Ferrari profit surged but the income fell short of expectations. Siemens Healthineers forecasted strong growth ahead.

In London trading, FTSE 100 index increased 39.35 or 0.6% to 7,133.07 and in Frankfurt the DAX index rose 12.55 to 11,531.54.

In Paris, CAC 40 index increased 14.21 or 0.3% to 5,115.90.

bet-at-home.com AG fell 0.3% to 58.25 after Germany-based online gambling and sports betting services provider said revenues in the nine-month period ending in September declined 4.1% from a year ago to 108.7 million.

Net profit in the period plunged 9.4% to 15.9 million from 14.4 million in a year ago period.

The online betting services provider said operating profit in the period slumped 5.9% to 23.9 million from a year ago period.

Bet-at-home.com forecasted fiscal 2018 revenues to increase to 150 million and operating profit between 36 million and 40 million.

Basler AG slipped 1.7% to 159 after Germany-based high-quality digital camera maker reported sales in the nine-month period ending in September dropped 4% from a year ago to 116.4 million.

Profit in the period declined 19% to 23.2 million from 28.8 million and total orders in the period slumped 11% to 112.2 million from 126.4 million in the same period a year ago period.

Ferrari NV slumped 2.7% to $116.36 after Italy-based luxury sports car manufacturer reported revenues in the year ending in September dropped 2% from a year ago to 2.6 billion.

Net profit in the period surged 49% to 596 million from 401 million in a year ago period and diluted earnings per share advanced to 3.14 from 2.11.

Ferrari operating profit soared 8% to 841 million and as of September 30, net debt declined 21.4% to 372 million from a year ago period.

The luxury sports car maker forecasted fiscal 2018 net revenues of more than 3.4 billion and operating profit of above 1.1 billion and shipments of more than 9,000 vehicles.

Ferrari forecasted fiscal 2022 revenues of 5 billion compared to 3.4 billion in 2017.

Siemens Healthineers AG jumped 2.6% to 37.08 after Germany-based medical technology provider reported revenues in the year ending in September fell 1.8% from a year ago to 13.4 billion.

Net profit in the period declined 8.6% to 1.3 billion from 1.4 billion in a year ago period and diluted earnings per share dropped to 1.26 from 1.38.

The healthcare providers said revenues in the imaging segment soared 6% to 2.3 billion and revenues in advanced therapies segment jumped 4% to 407 million.

The medical technology provider forecasted fiscal 2018 revenues growth in the range of 4% to 5% and profit margin growth in the range of 17.5% to 18.5% and diluted earnings per share growth between 20% and 30%.


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