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According to an AFP count published yesterday, the cumulative annual net profits of CAC 40 companies amount to 140 billion euros, thanks to records in the luxury and energy sectors.
In 2021, the 33 CAC 40 companies that published their annual accounts had collectively generated 128 billion euros in net profit, group share.
For 2022, the total revenue of these 33 companies exceeds 1,646 billion euros.
But according to the estimates of analysts surveyed by the financial data management company Factset, the cumulative profit of the CAC 40 is likely to be slightly down on a year-on-year basis. However, this decline masks record results, starting with the energy sector with the TotalEnergies group which, with 20.5 billion dollars (19.5 billion euros), has the largest profit in the index, ahead of the car manufacturer Stellantis. For its part, the automotive group resulting from the merger of PSA and Fiat Chrysler has exceeded all expectations, recording a net profit of 16.8 billion euros in 2022, an increase of 26%.
A rise in prices
23 billion in net profit in France, despite the large charges booked by the giant Engie, which weighed down the cumulative result and masked a strong increase in operating profit.
The luxury sector also saw its profits swell, driven in particular by the giants of the sector such as Kering, Hermès, LVMH and l’Oréal. It jumped 23% in total, up €4.5 billion year-on-year, and up 80%, compared to 2019. The main reason? Increases in production costs were passed on to customers in sales prices.
“For luxury in general and especially with us, prices always go up” and “we are in a strategy that is to make people forget about the price and sell more expensive but more sophisticated products,” said Jean-Jacques Guiony, CFO of the LVMH group.
Semiconductor manufacturer STMicroelectronics, more simply known as ST, posted the second highest increase in net income. It benefited from strong global demand for electronic chips, which were previously a rare commodity.
War in Ukraine
Even though all CAC 40 companies recorded notable profits for the year 2022, the war in Ukraine nevertheless impacted results, as at ArcelorMittal, the world’s second largest steel producer. The company was weighed down by $1 billion in provisions to cover its Ukrainian losses.
For its part, TotalEnergies made a record profit despite a $15 billion provision related to Russia. For the bank Société Générale, net profit was almost divided by three, due to the sale of its Russian subsidiary Rosbank.
For the automotive industry, there are significant differences, with a record profit for Stellantis, but a loss of 338 million euros for Renault, after a charge of 2.3 billion euros caused by the sale of the Russian manufacturer of Lada.
Read also >Hermès made it big in 2022
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According to an AFP count published yesterday, the cumulative annual net profits of CAC 40 companies amount to 140 billion euros, thanks to records in the luxury and energy sectors.
In 2021, the 33 CAC 40 companies that published their annual accounts had collectively generated 128 billion euros in net profit, group share.
For 2022, the total revenue of these 33 companies exceeds 1,646 billion euros.
But according to the estimates of analysts surveyed by the financial data management company Factset, the cumulative profit of the CAC 40 is likely to be slightly down on a year-on-year basis. However, this decline masks record results, starting with the energy sector with the TotalEnergies group which, with 20.5 billion dollars (19.5 billion euros), has the largest profit in the index, ahead of the car manufacturer Stellantis. For its part, the automotive group resulting from the merger of PSA and Fiat Chrysler has exceeded all expectations, recording a net profit of 16.8 billion euros in 2022, an increase of 26%.
A rise in prices
23 billion in net profit in France, despite the large charges booked by the giant Engie, which weighed down the cumulative result and masked a strong increase in operating profit.
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According to an AFP count published yesterday, the cumulative annual net profits of CAC 40 companies amount to 140 billion euros, thanks to records in the luxury and energy sectors.
In 2021, the 33 CAC 40 companies that published their annual accounts had collectively generated 128 billion euros in net profit, group share.
For 2022, the total revenue of these 33 companies exceeds 1,646 billion euros.
But according to the estimates of analysts surveyed by the financial data management company Factset, the cumulative profit of the CAC 40 is likely to be slightly down on a year-on-year basis. However, this decline masks record results, starting with the energy sector with the TotalEnergies group which, with 20.5 billion dollars (19.5 billion euros), has the largest profit in the index, ahead of the car manufacturer Stellantis. For its part, the automotive group resulting from the merger of PSA and Fiat Chrysler has exceeded all expectations, recording a net profit of 16.8 billion euros in 2022, an increase of 26%.
A rise in prices
23 billion in net profit in France, despite the large charges booked by the giant Engie, which weighed down the cumulative result and masked a strong increase in operating profit.
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