2024-02-15 09:48:26
With the war in Ukraine, tensions in the Middle East, the inflationary shock and even the energy crisis, the traditional avalanche of results published by large French companies in February was impatiently awaited by investors to measure how they are performing. were released in 2023.
Overall, thanks to the luxury, transport, energy and banking sectors, the cumulative net profits of the largest French companies in the CAC 40 have already exceeded 120 billion euros (123.9 billion euros) for 2023 while only 25 of the 40 groups have published their annual results. A performance substantially equivalent to that of the previous year. In 2022, these 25 companies had collectively generated nearly 125 billion euros out of more than 143 billion euros in profits for the entire CAC. Companies which have not yet published their annual results had collectively made some 18.4 billion euros in profits in 2022.
For now, the turnover for the past year for these 25 groups is already close to 1,185 billion euros. In 2022, the overall figure for CAC companies was 1,721 billion euros. We will therefore have to wait a little longer to have a precise idea of the performance of companies.
Many sectors in the green
This is the third year in a row where CAC 40 companies together have made more than 100 billion euros in profits. The luxury sector continued to shine, despite a slowdown in the market: between them, Hermès, Kering, L’Oréal and LVMH combined profits of nearly 29 billion euros, up 7%, despite a decline of 17 % at Kering. On the banking side, profits increased by 14% to nearly 20 billion euros for BNP Paribas, Crédit Agricole and Société Générale.
Transport also swells the balance sheet: Renault made a profit of 2.2 billion euros after a loss of 350 million in 2022. And Stellantis posted a record profit of 18.6 billion euros, the second largest result of the index. And again, the French automobile group was penalized by the strike in North America. TotalEnergies takes first place. Its profit increased slightly in dollars, to 21.4 billion but remains almost stable in euros: 19.8 billion euros compared to 19.5 billion in 2022.
Schneider Electric announced that it had achieved net profit up 15% in 2023 to 4 billion euros, driven by products and services linked to the energy transition. Its turnover for electrical equipment and industrial automation increased by more than 35.9 billion, up 5.1%. The group noted a “gradual recovery in demand” for products in the second half of the year in consumer-related segments and in the manufacturing market.
The good health of Airbus
Even if at Airbus, net profit fell by 11% in 2023, to 3.8 billion euros, reduced by expenses incurred in its space activity, the European aircraft manufacturer achieved the third highest profit in its history , after the 4.2 billion euros generated in 2022. “In 2023, all our activities recorded significant order intake and we kept our commitments. This is a remarkable result given the complexity of the operational context,” said Airbus Executive Chairman Guillaume Faury.
After missing its target for aircraft deliveries in 2022, the aircraft manufacturer managed to deliver 735 aircraft to its customers in 2023 despite persistent difficulties in its supply chain to follow its ramp-up. And it plans to deliver “around 800” in 2024, the number of planes delivered in 2018, before the Covid pandemic. The aircraft manufacturer also collected 2,094 net orders last year, shattering its previous record dating from 2013. Airbus rode on the success of its A320 family single-aisle aircraft and its A350 long-haul aircraft.
The main European stock exchanges should advance to the opening this Thursday, while exchanges will be animated by a burst of results and indicators. The CAC 40 should be above the threshold of 7,700 points at the opening. The previous absolute record of 7702.95 points was reached on January 31. In fact, the outlook is rather positive. The only uncertainty: companies all hope, with a reduction in interest rates underway, that consumption will quickly start to rise again.
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