Results for the Third Quarter of Societé Générale, ING and Amadeus

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Results for the Third Quarter of Societé Générale, ING and Amadeus

Best placed currencies in Forex in early 2017

Best placed currencies in Forex in early 2017

In its third fiscal quarter, the French financial institution Societé Générale has achieved a gross margin of 5,958 million euro, -0.9%; -8% in the first nine months of 2017; a margin of exploitation of 1,445 million, -8.4%; -23.5% until September; and Net Income Attributable (NIA) of 932 million, -15.2%; -21.4% through September compared to the expected 1,000 million.

The effort in reducing costs -1,9% and the fall in the cost of risks 17 basic points against 34 points in the third trimester of 2016 just partially compensate the drop in income. The low part of the account of losses and gains continues to be loaded by provisions related to litigations.

The weakness of the income generates uncertainty on the bank’s dividends policy and the sustainability by dividend, 4%. SocGen loses in Paris more than three percentage points as a reaction to these results.

However, the quarterly accounts of the Dutch entity ING have exceeded the forecasts of the analysts’ consensus with a Gross Margin of 4,408 million euros, 1% against the -0,3% in the second trimester; a Margin of Operation of 2,119 million, -1,1% against the 3.6% in a second one and a Net Income Attributable of 1,376 million, 2% against the 5.9% in second and against the expected 1,330 million.

The account of losses and gains shows the improvement of the typical income, 3.1% in the margin of interests and 6.3% in commissions, as well as a strong fall in risk costs, -53,2% in provisions against the -25,4% in the second trimester of the year. The capital ratio CET-I “fully loaded”, 14.5%, leads the European banking and the ordinary Return on Tangible Capital reaches 11.5%, compared to 11.7% in the second quarter.

Amadeus, ING, Société Générale

In spite of it, the shares of ING Group that quote in Amsterdam’s stock market maintain anchored around the price of the opening of this week, 15.82 dollars, with which they have almost lost a percentage point of his value in the week.

Amadeus

Amadeus, the technology company, has obtained in the third trimester of the year an income of 3,686.6 million euros (8.9%) against the predicted 3,697.7 million; an Ebitda of 1,466.3 million (10.1%) against the expected 1,463.9 million; a Net Income Attributable of 846.7 million (14.7%) against the expected 792.8 million and a benefit per share of 1.93 euros (14.7%).

The quota of market of flight reservations in travel agencies remain stable against the second trimester of the year at 43.6%, with an improvement of 0.6% in the last 12 months.

In the break-down of the sector, the Income of Distribution grow by 11.8%, against the 13.3% in the six first months of the year up to 1,304,7 million.

On the other hand, Amadeus has announced that the hotel chain British Premier Inn has hired, with Amadeus, the reservation management services in its 765 hotels, which offers more visibility to the business growth of Technological Solutions.

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