AlcatelLucent published Friday a turnover of EUR 3

The black series continues in telecommunications equipment. Alcatel-Lucent published Friday a turnover of EUR 3.68 billion in the third quarter, down 11 on a year at constant exchange rates. It is approximately EUR 200 million to the expectations of the market lower. But the French-American Group, the priority was to cut costs to deal with a tense financial situation, is not the most badly off. Compression of expenditures of the operators, customers, further weighed on its western competitors Ericsson (-12 of net sales at constant exchange) and Nokia Siemens Networks (20). However, while the latter has improved its forecast of developments in the market for the year in progress (-5 in euros instead of 10), Alcatel-Lucent sticks to his own dark: a fall of 8 to 12.

As to profits, they are still waiting. The number one global fixed telecommunications networks equipment has not registered any benefit since the merger in November 2006 Alcatel and Lucent. Its net loss increase from EUR 40 million in the third quarter of 2008 to 182 million for the same period of 2009. Operating income adjusted (excluding the accounting impact of the acquisition of Lucent) is also negative, at-11 million euros. This loss was generally consistent with the expectations of the market and mastered. It did not prevent the course of Alcatel-Lucent collapse more than 10 of the Paris stock exchange Friday. "Excessive expectations were created since the month of August," decrypts a Parisian analyst, surprised by such stock market fall. "Some managers have started to dream of a positive operational result for the third quarter." They were disappointed. And as the course had climbed by 67 in three months, they have been tempted to take profits.

In any case, Vincent Maulay, analyst at Oddo Securities, revised upward its forecast for the year. Alcatel-Lucent should reach a quasi-point died, with operational loss limited to EUR 50 million, considers, two times less than in a previous forecast. "The fourth quarter will benefit the growth of volumes, of the improvement in gross margin through cost reductions and the weight of the United States, where the margin is higher."

Cost reduction

Alcatel-Lucent has limited its operational loss in the third quarter, was with rigour in the management of costs. Yesterday, Ben Verwaayen, CEO, welcomed having achieved 80 annualized savings of EUR 750 million plan. "Approximately 30 of the savings achieved to date are linked to the reduction of cost of sales, 20 for R & D and 50 in administrative burdens and trade", said the group in a statement. While Alcatel-Lucent had removed 16.500 positions during the Russo-Tchuruk, the new leader has scheduled other smaller plans since the beginning of the year: they seek the departure of a thousand of managers, the outsourcing of the employees of the computer, in a partnership with HP, and further cost reductions are anticipated particularly to reduce general and administrative costs. Alcatel-Lucent or restructuring permanent Ben Verwaayen is not a mode of management, promised yesterday at the presentation of the results: "We hope to one day return to normal."It is not the only hope.