Latest news with #DegroofPetercam
Reuters
16-07-2025
- Business
- Reuters
ASML warns it may not achieve growth in 2026
VELDHOVEN, July 16 (Reuters) - ASML ( opens new tab, the world's biggest supplier of computer chip-making equipment, on Wednesday warned that it may not achieve growth in 2026, even after its second quarter bookings beat market expectations. Analysts had hoped that the quarter would provide some reassurance over its outlook for 2026. However, the company warned that geopolitical uncertainty continued to cloud its prospects. "The level of uncertainty is increasing, mostly due to macroeconomic and geopolitical consideration. And that includes, of course, tariffs", ASML's chief executive Christophe Fouquet said in an internal interview published on the company's website. "While we still prepare for growth in 2026, we cannot confirm it at this stage", Fouquet said in a statement. If it materialized, 2026 would be the first flat year in over a decade of uninterrupted revenue growth since 2012. ASML investor Han Dieperink, chief investment officer at investment firm Aureus, said he was not worried about the upcoming year, noting that the quarter pointed to solid demand. The Dutch group's net bookings, the most closely watched figure in the industry, were 5.54 billion euros ($6.4 billion). That was ahead of analysts' consensus estimate of 4.44 billion euros, according to researcher Visible Alpha. "The second quarter beats from top to bottom", analyst Michael Roeg of Degroof Petercam said. Roeg cited strong demand from artificial intelligence related chipmakers. ASML's EUV lithography machines, the world's most advanced chip circuit printing system, is the key enabling technology behind leading-edge chips like those used in Nvidia's (NVDA.O), opens new tab GPUs, or Apple's (AAPL.O), opens new tab Macs and iPhones. ($1 = 0.8608 euros)
Reuters
30-04-2025
- Business
- Reuters
Credit Agricole delivers mixed Q1 as retail offsets trading jump
PARIS, April 30 - French bank Credit Agricole ( opens new tab reported a drop in first-quarter profit on Wednesday after an exceptional government tax hike, as it unveiled a mixed performance with rising costs and retail weakness offsetting strength in its investment bank. First-quarter net income fell by 4.2% from a year to 1.82 billion euros ($2.08 billion), against the 1.86 billion-euro consensus compiled by the company. The drop in profits was due to a 123 million euros hit from the implementation of France's exceptional levy imposed on big companies to shore up the country's finances, Credit Agricole said, adding that it faced a total of 200 million euros in exceptional taxes in 2025. The dip in profit comes as other European banks to have reported first-quarter numbers have beaten expectations, with executives largely unfazed by U.S. President Donald Trump's trade war and sticking to their financial forecasts. Credit Agricole said revenues climbed 6.6% to reach a new quarterly record of 7.26 billion euros, above market expectations, helped by the integration of Degroof Petercam into its wealth management division. Operating expenses rose faster than sales, up 8.8% over the period. Its investment banking division delivered growth of nearly 6%, led by revenues in fixed income, currencies, and commodities (FICC), which gained 7.1%, the head of the bank's unit said. "We benefited from very volatile markets," Xavier Musca told journalists on a call. "You saw the huge movements in interest rates and exchange rates linked to (U.S. President Donald) Trump's announcements and also to the German announcements, which caused German interest rates to rise sharply," he added. This contrasted with a fall in net interest margin - the difference between what banks earn on loans and what they pay out on deposits - at Credit Agricole's retail businesses in France and Italy, its two biggest retail markets. The net interest margin fell by 1.7% in France and by 5.8% in Italy, where the European Central Bank's rate cuts are compressing lending margins. This was offset by higher fee and commission income on asset under management, the bank said. ($1 = 0.8761 euros)
