Digest of recent French company results

Car parts group Valeo (VLOF.PA) posted a second quarter net loss of 54 million euros.

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Investment company Wendel (MWDP.PA) reported a dip in first half sales and rescheduled a debt package. It also maintained its forecast for a loss over the course of 2009.

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French carmaker PSA Peugeot Citroen (PEUP.PA) swung to a first half loss with sales down over a fifth, and said it saw a recovery in the European automobile market starting towards the end of 2010. [ID:NLT335798]

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Sanofi-Aventis (SASY.PA) raised its earnings growth goal for this year and said new cost savings should result by 2013 in a net profit and sales level similar to 2008 as the French drugmaker grapples with patent expiries. [ID:nLT334165]

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Rhodia RHA.PA says second quarter recurring EBITDA drops 43 percent to 187 milion euros and sees slight sequential increase in EBITDA in the third quarter. Demand levels for the fourth quarter remain uncertain.

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Boursorama (FMTX.PA) said first half net banking income slipped two percent to 95.7 million euros and net attributable income was up four percemt to 23.7 million, after a gain on SelfBank and a goodwill hit for OnVista AG.

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EDF Energies Nouvelles EEN.PA reports a 53.7 percent jump in first half net attributable income to 41.8 million and confirmed its full-year targets.

EDF (EDF.PA) has a 50 percent stake.

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Legrand (LEGD.PA) confirms 2009 margin target of at least 14 percent, as first half operating margin was 16.9 percent despite 16.7 percent drop in sales.

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Saft (S1A.PA) posts EBITDA margin of 17.9 percent of sales in H1 2009, at 51.5 milion euros, in line with annual guidance.

Revises 2009 sales guidance to 7-10 percent lower compared to 2008, at constant exchange rates. The 2009 EBITDA guidance is unchanged at 18 percent of sales or above.

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NicOx (NCOX.PA) posts first half loss of 27.2 million euros versus 33.1 million last year.

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Atos Origin (ATOS.PA) confirmed its 2009 guidance after it had a first half operating margin of 4.6 percent.

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Maroc Telecom (IAM.CS) said it saw a 2009 operating profit margin of around 45 percent and sales up some 2 percent, despite the economic crisis and increased competition. [ID:nLT330305]

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JULY 28

Euler Hermes (ELER.PA), the world's biggest credit insurer and a unit of German insurer Allianz (ALVG.DE), reported a 99 percent plunge in first-half net profit to 0.7 million euros on Tuesday and said it doesn't see any big improvement this year. [ID:nWEA2923]

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Gameloft (GLFT.PA), which makes video games for mobile phones, posted a 20 percent increase in first half sales to 60.1 million euros and confirmed its full-year sales and profitability targets.

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Property group Icade (ICAD.PA) published an 11.1 percent increase in operating profit to 173 million euros in the first half. Consolidated sales fell 6 percent to 714 million euros, "predominantly in relation to the expected fall in residential property development", it said. EBITDA was stable at 156.5 million euros and the group said rents from commercial propert investment rose 22 percen.

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M6 (MMTP.PA), France's second-largest commercial TV broadcaster, on Tuesday posted a flat first-half operating income, as lower programming costs helped cushion the impact of depressed advertising markets. [ID:nLS576702]

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European aerospace group EADS (EAD.PA) reported a 23 percent drop in first-half profit on the back of foreign exchange swings and lower aircraft prices, but maintained its basic outlook while raising cashflow targets. [ID:nLS281033]

The Airbus parent also took a fresh 71 million euro charge for the delayed A400M military plane in the second quarter but deferred radical further provisions on the project as it negotiates a new contract with purchasing countries.

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Nexans SA (NEXS.PA) says its made a net loss of 57 million euros in the first half against a net prfit of 119 million a year ago. It said the full year net income should be positive again despite restructuring charges.

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Cinema group Gaumont (GAUM.PA) reported a rise in net attributable profit for the first half to 2.1 million euros from 1.2 million.

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