2023-10-29 18:54:28
French auto parts manufacturer Plastic Omnium cited an “uncertain economic environment” to explain a profit warning. THIERRY TONNEAUX/PHOTOPQR/VOIX DU NORD/MAXPPP
SURVEY – Geopolitical tensions, high rates and inflation no longer spare the results of multinationals. After the prosperous post-confinement years, the summer of 2023 marked a turning point.
Until last summer, the world’s major companies walked on water. While households had been suffering for months from inflation and rising interest rates, and SMEs were already showing signs of weakness, nothing seemed to affect the giants of industry and services. In the first half, the cumulative net income of CAC 40 companies was up 13% compared to last year. A remarkable performance, after two years – 2021 and 2022 – of record profits.
But the tide turned between July and August. “Since the start of the school year, many leaders have been talking about a slowdown”, reports Gilles Guibout, head of European equities at Axa IM. The quarterly results published in recent days by the global giants bear the mark. “For the first time in a long time, a number of companies reported figures below analysts’ forecasts or revised their forecasts downwards”underlines Emmanuel Cau…
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