ArcelorMittal confident after a first quarter better than expected

ArcelorMittal, the world's biggest steelmaker, said Thursday anticipate earnings up in the second quarter after posting better than expected results for the three months of the Year e.

The Luxembourg-based group says that demand has increased in North America in the automotive, construction and appliance.

"Europe remains our main challenge and, in the first quarter, we announced the extended shutdown of several factories in the line of our strategy is to re ; lay on demand from our site competitive, "said Group Chief Executive Lakshmi Mittal said in a statement. 

"Despite the impact of seasonal factors in the first quarter, our mining remains a key growth area and we have set ourselves the objective of further increasing production in 2012."

ArcelorMittal said its steel shipments expected to remain at a similar level to the first quarter but that all segments are expected to improve their profitability. It does not say whether these gains will come from rising prices, costs down, or both.

The group reaffirmed its target of a gross operating profit (EBITDA) rose in the first six months of the year compared to the second half of 2011, when he was 4 , 1 billion dollars (3.17 billion euros).

In the first quarter, EBITDA totaled $ 1.97 billion, well above the Reuters consensus among 11 banks and brokers, who gave it to 1.71 billion. This result was up by 15% over the previous quarter and 24% annual rate.

The net profit amounted to 11 million, instead of the 78 million expected.

ArcelorMittal has also reported that it had signed an agreement to sell its 23.48% in Enovos International SA, for the benefit of a fund managed by AXA Private Equity Group, for a purchase price of EUR 330 million.

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Aer Lingus plays cautiously by paying its first dividend

The Irish carrier Aer Lingus announced Friday it would pay the first dividend in its history as a listed company, but its amount has not been enthusiastically received by investors who expected much more.

Entered the stock market in 2006, the airline announced in July the payment of an ordinary dividend of 3 pence per share in the wake of the release by the group improved its re results.

In total, the group will restore a total of 15.9 million euros.

However, he ruled out any possibility of paying a special dividend, as it did before its competitors Ryanair and EasyJet. 

The financial director of Ryanair, Aer Lingus' biggest shareholder, has welcomed the announcement of a payment, while calling it "pathetic", arguing that a combination of 50 million euros have been ; more appropriate to the billion euros in cash for which the carrier is sitting.

"If we were at Christmas, I would call stingy," said Howard Millar.

Some analysts said that shareholders might be disappointed, but justify the cautious attitude of Aer Lingus in the context of uncertainty that surrounds it.

The AC M6 better than expected, rising as high

The television group M6 said Thursday sales better than expected first quarter thanks to stronger than expected advertising revenue for the M6, which propels the title among the highest increases in the SBF 120 index.

M6 Group has produced a quarterly revenue up 3.6% to 355.1 million euros, against 345 million euros expected by the Thomson Reuters consensus I / B / E / S , driven by non-advertising revenues as media rights or distance selling.

At 10:10, the title earns 7.5% to 12.40 euros, the second largest increase in the SBF 120 (1.23%) behind Technicolor (10.26%).

"All the poles were better than expected," said Gilbert Dupont in a note, confirming its board to buy the title with a target price of 18.5 euros. 

"Despite this publication better than expected, we maintain our forecast at this stage, given the lack of visibility on the advertising environment," said the interim, however.

The only channel M6 does not record it, a 1.5% growth in advertising revenues in January-March, limited by the combination of sluggish economic conditions and an unfavorable base effect.

In a note, Goldman Sachs said it anticipated a 0.5% increase in advertising revenue from the M6, citing a consensus even reporting a decrease of 0, 6%.

Digital channels (such as W9) whose advertising revenue increase of 16.0% helped the group garner advertising revenues of 202.5 million, a record first quarter according to M6.

Italy has revised downwards its growth forecast

The government of Mario Monti expects a decline of 1.2% of GDP for 2012, against an anticipated 0.4% decline in December. And return to a balanced budget is delayed. "Reforms should increase growth by 2.4% between 2012 and 2020," according to the government of Mario Monti.

The Italian government on Wednesday revised downwards its forecast for gross domestic product (GDP) for 2012, providing for a contraction of 1.2% against a 0.4% decline in the last official forecast from December. He at the same time delayed its planned return to balanced budgets, expecting a deficit of 0.5% in 2013 (instead of 0.1% predicted), in a statement issued at the end of a cabinet.

This forecast remains "in compliance" with the Covenant which provides that the European budget deficit must remain below 0.5%, says the text. One aspect stressed by the Head of Government Mario Monti at a press conference: "The Treaty (European Pact on budget) requires each Member State there is in each country a deficit not exceeding the 0.5% of GDP, "he said. "The government estimates that GDP will contract by 1.2% in 2012 to turn positive again in 2013 (0.5%) and speed over the two successive years (1 and 1.2% respectively)," the statement said . "This will allow the public debt (…) to fall to 120.3% (of GDP) in 2012 to 110.8% in 2015," said the government.

"The debt is on a path of gradual but sustainable," noted Mario Monti in its reasoning accompanying the new government's economic forecasts. "Despite progress, there is still a long way to go, in a more favorable but still characterized by elements of uncertainty," he adds.

For the government of Mario Monti, "the action of financial balance has been accompanied by the adoption of various reform measures aimed at removing the main obstacles that have hindered the growth potential of Italy. Based on estimates government, reforms should increase growth by 2.4% between 2012 and 2020, "said he. "We must revive growth in the context of a model of fiscal stability and this is the way to build a modern economy and social market," said Mr Monti, saying that "growth is the most large préoccuptation "Italians.

"We fight every day to avoid the dramatic fate of Greece," he said. "This crisis requires a very high cost to families, youth, workers, businesses and sometimes these experiences are completed in despair," he said in a grave tone evoking directly to contractors suicides occurred recently. "There were 1,725 ​​suicides, it is the dramatic effects of the crisis," he said.

The President of the Council also strongly condemned tax evasion, promising a fight against this scourge in Italy. "The commitment to fight against tax evasion responds to reasons of justice. Evasion is between companies unfair competition and a way in which citizens dishonest cause harm to other citizens, causing pressure (fiscal note) higher, "he said.

Havas buys 12% stake for 253 million euros

Havas Friday presented a proposed acquisition of 12% of its capital to reduce the discount on the stock exchange and optimize its financial structure.

Number six global advertising announcement in a statement launching a tender offer for 51,729,602 shares (Opra), for a price of 4.90 euros per share, giving a total of 253 million.

Vincent Bolloré, which controls 32.84% of Havas which he is president, is committed to the AMF not to exceed the threshold of 37.32% of share capital and voting rights and not to influence the decisions of the Extraordinary General Meeting of May 10 

Havas said its decision by the lag between changes in its net income, which more than doubled between late 2006 and late 2011 to 120 million euros, and that of his action grew only 2.3% over the same period, resulting in discounted valuation multiples compared to peers.

The action Havas has closed up 0.92% to 4.053 euros Friday, giving a market capitalization of 1.75 billion. She won 27% since the beginning of the year, after falling 18% in 2011.

Havas announced in early March organic growth greater than its European rivals WPP and Publicis in 2011, without providing a forecast for 2012.

Casino will be the sole controlling shareholder of Brazilian GPA

Casino announced that it would exercise its right to become the sole controlling shareholder of Grupo Pao de Acucar, a decision that could undermine the influence of the president's first distributor in Brazil .

The influence of the French retailer Grupo Pao de Acucar has intensified since President and member of the founding family Diniz attempted to mount last year a merger with Carrefour. 

"To prepare for the reorganization of the control of Companhia Brasileira de Distribuicao (GPA) on 22 June, as provided in the shareholders of the company ; Wilkes (which controls GPA), Casino Guichard-(Casino) informed his partner that day Mr. Diniz it intended to exercise its contractual right to appoint the Chairman of the Board of Directors Wilkes, "said Casino in a statement released Wednesday evening.

"The decision to exercise this power Casino contract allowed him to obtain exclusive control of GPA, pursuant to the shareholders of the company Wilkes," says Casino, who said so confirm its "long-term commitment in Brazil." 

In the opinion of analysts, litigation with Casino qu'Abilio Diniz involves risks losing its control over a company founded by his father in 1948.

A spokesman representing the interests of the family Diniz said the right to control Casino was established in a shareholders' agreement and added that 'Diniz remain president Henrique.

But some analysts say it will not only be a minority shareholder of a corporation over which he exercised control once.

Its proposed alliance with Carrefour had received a time downstream of the Brazilian government, which subsequently withdrew its support. 

But Casino, who paid a premium to exercise its right to control when he came to the rescue of the distributor in 1999, had strongly opposed this and appealed to the courts.

The local press also wrote qu'Abilio Diniz wanted to propose a split of the subsidiary appliances, leaving the Casino supermarket division, which represents roughly half of turnover of the group.

Casino has sued the Galeries Lafayette on Monoprix

Casino confirmed Tuesday it had sued the Galeries Lafayette and their representatives on the board of Monoprix, a joint venture at the center of a conflict between the two groups.

This new episode of the standoff between the legal and financial concerns the two distributors one-year extension, from 1 April, the mandate of the President of Monoprix Philippe Houze, then he should initially return to Jean-Charles Naouri, CEO of Casino.

"Casino confirms having issued a subpoena last week to the Commercial Court of Paris Galeries Lafayette, Philippe Houze, Ginette Moulin (Chairman of the Supervisory Board of Galeries Lafayette and whose family controls the group-ed) and Philippe Lemoine (Monoprix administrator) ", says one in Casino. 

"The objective is to obtain compliance with the agreements between Galeries Lafayette and Casino Casino which provide that holds the Presidency of Monoprix from 31 March 2012."

Casino and Galeries Lafayette, each holding half the capital of Monoprix, put in the public last month their disagreement on the valuation of the sign.

Under a memorandum of agreement between them, the Galeries Lafayette can exercise since January 1 of an option to purchase their shares. But the two sides differ on the value thereof and the Galeries Lafayette assigned Casino courts on this part of the file.

In late February, Jean-Charles Naouri ruled that the climate was "not conducive" to discussions between the parties and said he was ready to assert the rights of his group.

Casino estimates the value of the participation of Galeries Lafayette to 700 million euros while the department stores the value to 1.95 billion.

HeidelbergCement sees 2012 profit up, dividend statement

HeidelbergCement said on Thursday anticipating a rise in operating profit in 2012 thanks to growth in demand in all markets except Western Europe and new measures cost reduction.

The fourth global manufacturer of cement did not specify the magnitude of the expected increase in profit, which should grow well for the third straight year.

"The growth rate expected to ease on most markets because of measures taken to strengthen public finances," said Chief Executive Bernd Scheifele said in a statement.

"Growth rates in emerging Asia and Africa are expected to remain significantly higher than those of mature markets of North America and Europe."

The competitor Lafarge will propose an increase of 40% dividend per share in 2011, to 0.35 euros. Analysts had forecast 0.38 euros, according to Thomson Reuters StarMine

.

Latécoère will hire to meet demand

The aerospace supplier Latécoère will make new hires in 2012 to increase production rates and thus satisfy the growing demand of its large customers are Airbus or Boeing.

At the same time, Latecoere, which employs 4,175 people in nine countries, is still open to industry consolidation.

"We are in a phase of relative privilege where all our customers demand increases in rates," said Francois Bertrand, chief executive of Latécoère at an interview with Reuters. 

Based in Toulouse, the group was founded in 1917, is facing increased rate of production programs Airbus, Boeing and Embraer, while air traffic has increased 6% last year.

"The priority is to manage growth," said Francois Bertrand, adding that the group plans to hire at least 200 additional employees to meet this demand and avoid production delays.

"Currently, the market is booming. The high commands of last year increased its order book and therefore lead to increases in speed. "

Latécoè re projected that its turnover will increase by 10% in 2012, after rising 12% in 2011

. The business, including Airbus accounts for 50% of sales, will continue to expand in North America where it is looking for a new production site. Boeing, the second client (15% of sales, and Embraer) should play an increasingly important Latécoère in the coming years.

Deficit and debt, the company had begun in May 2010 seeking a new shareholder, a search that had failed after the deadline for late 2011.

"In the short term, what matters is the growth management, but the subject of consolidation is still on the table," says Francois Bertrand, adding that an agreement could be reached before the deadline for two to three years announced in November.

"The consolidation will be particularly important in the context of new program launches," he says. 

Latécoère, who has returned to profits in 2010, would merge with one of 15 European OEMs to create a group of at least one billion euros in turnover, Francois Bertrand said.

In 2011, the group recorded a net profit of EUR 6.6 million on a rag business of 520 million euros, while its debt amounted to 370 million, a level that expected to decline by 50 million euros in 2012.

"We returned to a normal situation where our financial resources fit our profile of cash, which was no longer the case from 2008-2009 where large slips were place, "says Francois Bertrand. 

The action Latecoere closed Friday at 11.52 euros (0.17%) showing a market capitalization of 99.187 million euros.

Beiersdorf expects profits up in 2012

Beiersdorf expects earnings growth in 2012, having eliminated unprofitable products to focus on its flagship brand Nivea, waiting for a new chief executive next month.

The consumer products group general public has lost market share in recent years and attempts to remedy this by redesigning its product line dominated by Nivea, the first global brand of care the skin.

Beiersdorf, which also owns the range of luxury cosmetics La Prairie, announced in January and the results better than expected margin for 2011, suggesting that a slow movement of recovery maybe put on.

He believes that the operating margin of the consumer division should exceed that of 2011, stood at 11.4% against 12.7% in 2010. 

The new CEO Stefan Heidenreich will take the reins of the group in April, charging him with driving a change which, if it proved unsuccessful, could fuel speculation by Beiersdorf future operational able.

The group proposes an unchanged dividend of 0.70 euro per share, while analysts polled by Reuters had expected € 0.68.