2023-08-07 14:47:00
The first figures unveiled at the end of July left little doubt. Driven by price increases, the cumulative net profits of CAC 40 companies amounted to more than 81 billion euros in the first half of 2023, up 15% over one year, according to a breakdown by AFP, this Monday August 7th.
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The results of the main French banks, which all show an increase in net profit (+5% for the sector), and of Legrand (+19%), published last week, confirmed the upward trend observed last month. From January to June 2022, the 38 companies in the star index of the Paris Stock Exchange having published their half-year accounts so far had collectively generated 71 billion euros in net profit group share.
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The global half-year turnover of these 38 listed groups reached almost 860 billion euros, once morest 825 billion euros for the same period in 2022, an increase of 4%. Note: the AFP calculation does not take into account two groups, Pernod Ricard and Alstom. Indeed, their staggered accounting years do not correspond to the calendar years. Vivendi, replaced in the middle of the year by Edenred within the benchmark index, was also removed from the list.
An upward trend to qualify
This general trend of increasing sales and profits is explained by inflation. And for good reason, companies pass on cost increases to their prices. The aggregate increase, however, masks some setbacks. Like Eurofins: the giant of analysis laboratories suffers from the post-Covid period, with a profit down 51% in the first half, to 151 million euros for a turnover in decline 5.9% to 3.20 billion euros, in line with the consensus of analysts from Factset and Bloomberg.
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The profits of the industry sector, very exposed to the cost of energy, also fell heavily (-43%), mainly due to Arcelor Mittal. The steel group experienced a drastic drop in its net profit, by 63%. On the other hand, luxury continued its positive momentum, reaping nearly 16 billion euros in profits over the period, thanks to LVMH (+30% to nearly 8.5 billion euros) and despite the disappointment of the Kering group ( -10%).
For the automotive sector, it was time for recovery, Michelin posting a sharp increase in profit, to 1.2 billion euros (+44.7%) as did Stellantis, which exceeded 10 billion euros in profit. in the first half (+37% over one year). Two years following a historic deficit, and one year following its hasty departure from Russia, Renault for its part continued to recover its accounts with a net profit of 2.1 billion euros in the first half of 2023, when it had lost money last year. Only Airbus saw its profit plunge by 20% to 1.53 billion euros, due to the difficulties experienced by its suppliers.
(With AFP)
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