SAirGroup crisis not the only likely headline
The week ahead will see a clutch of important company results, but is likely to be dominated by the ongoing crisis at SAirGroup, with the company's AGM taking place in Zurich on Wednesday.
The troubled aviation conglomerate, the parent company of Swissair, promised its shareholders a fresh start at the beginning of the month after unveiling losses of almost SFr2.9 billion ($1.7 billion) for last year.
The new chairman, Mario Corti, has already announced some measures such as halting subsidies to its French subsidiary, Air Littoral, in a bid to cut the losses. But shareholders now want to hear how Corti plans to return the group to profitability.
They’re unlikely however to hear much more about this on Wednesday, though Corti may announce plans to stop propping up the AOM and Air Liberté regional French airlines.
Many shareholders remain angry about the failed expansion policy followed by the management and the threat of legal action now hanging over the group.
The computer accessories company, Logitech, releases its annual results on Tuesday. The group has managed so far to defy the pessimistic trend in the high-tech sector to increase sales and earnings.
A clutch of other companies will come through with sales figures for the first quarter of the current year.
The numbers will give a fair indication of how the slowdown in the United States is affecting growth prospects for Swiss companies.
Ciba Specialty Chemicals, in particular, is seen as an economic weather vane and analysts will be keen to see its sales report due out on Thursday.
Europe’s leading manufacturer of stepping motors and micro-switches, SAIA-Burgess, releases its first quarter sales figures on Tuesday and one of the world’s biggest employment agencies, Adecco follows suit on Wednesday.
by Michael Hollingdale
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