ORIGINAL FRENCH ARTICLE: 73 milliards de bénéfices pour le CAC40
Translated Monday 12 March 2012, by Bill Scobleand reviewed by
Decidedly, there is no economic crisis for the companies on the CAC 40 stock index.
The top 40 companies on the Paris stock exchange show a net profit of 73 billion euros for 2011. Admittedly, this is 7 billion euros less than in 2010. But unlike 2010, the French economy was in recession in 2011. However, this did not prevent them from stuffing their pockets.
21 of the 40 corporations made a higher net profit, while 14 made a lower one.
Two made a loss (Crédit Agricole and Veolia Environnement), whereas the previous year they made a profit, while one corporation returned to profitability (Alcatel-Lucent).
Total remains the CAC 40 leader. It alone made 12 billion euros in profits. The luxury corporations, LVMH and PPR had a good year, as did L’Oréal.
Despite the sovereign debt crisis, the banks and their insurers made out rather well, except for Crédit Agricole.
Corporations providing services to government are the only ones to have really been affected by the euro crisis and its corollaries, austerity policies and the slashing of government budgets. Examples are the lower profits made by GDF Suez and Veolia Environnement’s problems.
A few corporations that are dependent on raw materials, like Lafarge and Vallourec, suffered. The bad economy continues to affect them more than industrial corporations.
With regard to the automobile industry, Renault held steady, whereas PSA Peugeot Citroën saw its profits halved and must prepare for hard times.