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Investing.com -- Shares of Alten (EPA:LTEN) fell more than 10% Friday after the French engineering and technology consulting firm reported a slight decline in first-quarter revenue on Thursday, with weak results across several key European markets offsetting growth in France and southern Europe.
Revenue for the quarter ending March 31 slipped 0.5% to €1.06 billion, down from €1.07 billion a year earlier.
The company cited currency effects as a key factor weighing on results, offsetting gains from acquisitions and modest organic growth.
France led growth, with revenue rising 4.2% to €369.4 million. The Iberian Peninsula jumped 14.4% to €115.7 million, and Italy saw a slight gain of 1.3% to €87.9 million.
Performance elsewhere in Europe was weaker. Revenue in Germany dropped 10.7% to €77 million, the United Kingdom (TADAWUL:4280) fell 6% to €68.4 million, and Benelux declined 14% to €51.7 million. Scandinavia posted the sharpest drop, down 22.5% to €35.6 million.
North America recorded a 4.6% decline to €115.6 million, while Asia Pacific slipped 1.7% to €86.4 million. Eastern Europe was a bright spot, rising 13.6% to €36.6 million.
By sector, aerospace, defense, security and naval made up 33% of revenue. Automotive and rail contributed 23%, while energy, life sciences and industrial equipment accounted for 25.3%.
Services, retail, banking, media and the public sector comprised the remaining 18.7%.