The CAC 40 records 140 billion in profits, in the midst of a debate on the taxation of superprofits

The record results of CAC 40 companies were boosted in particular by energy and luxury, including the LVMH group.

Here, its CEO Bernard Arnault announces the annual results of the parent company of Louis-Vuitton in Paris, January 26, 2023. © Gonzalo Fuentes /.

Reuters

Text by: RFI Follow

3 mins

Everything has not yet been accounted for and yet these are already records to the delight of shareholders.

After a first burst of annual results, the net profits of the main French companies in the CAC 40 have already reached 140 billion euros for 2022. In 2021, the same 33 companies had collectively generated 128 billion euros.

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CAC 40 companies presented all-round records, starting

.

In a context of

, and with nearly 20 billion euros, the French major posted the biggest profit in the index ahead of the car manufacturer Stellantis.

Luxury profits swelled 23% overall year-on-year.

The four French groups in the sector (LVMH, Hermès, Kering and L'Oréal) saw their cumulative net profit drop from 22 billion euros in 2021 to 26.8 in 2022.

Even more impressive is the increase compared to 2019 – before the health crisis therefore: +80%.

Businesses in the sector did not suffer from general inflation since they passed it on to selling prices to customers.

LVMH also explains: " 

 " in a strategy aimed at " 

 ", according to the financial director Jacques Guiony.

For its part, STMicroelectronics signs the second largest increase in its net profit.

The semiconductor maker is benefiting from strong global demand and the post-pandemic catch-up effect that has driven prices higher.

The war in Ukraine nevertheless left its mark on the results of certain groups: those of ArcelorMittal, Renault and Société

were affected by losses in Ukraine or disposals in Russia.

► 

Controversy over shareholder gratuity in the midst of the debate on superprofits

With

, many companies have decided to reward their shareholders more, under a rain of criticism accusing them of not paying so much to employees, nor of doing enough for the climate.

“ 

, judge Léa Guerin, of the NGO Oxfam.

 »

Among the 33 CAC 40 companies that have published their annual results, no dividend is down over one year, according to an AFP statement.

In 2022, payouts reached a record 56.5 billion euros, according to financial newsletter Vernimmen.net.

Societe Generale wants, for example, to redistribute 90% of its profit to shareholders, with an increase in the dividend, despite a 64% drop in net income.

Huge profits, as the global economy falters and inflation suffocates purchasing power in France and elsewhere, is reigniting the debate about taxing windfall “superprofits 

 .

But it is " 

 ", notes Chris Wheaton, sector analyst at the American bank Stifel, in reference to the profits made by oil groups outside the country where their headquarters are located. social.

TotalEnergies has paid two billion euros in

and the UK, as much as it expects to pay in the first quarter to buy back shares.

LVMH, which has paid 5 billion euros in corporate taxes worldwide, will pay 400 million euros in profit-sharing and participation to its approximately 39,000 French employees as well as 12 euros per share.

A total of some 6 billion euros, of which nearly 3 billion go to the family of CEO Bernard Arnault.

Stellantis will reward its shareholders with 4.2 billion euros in dividends and 1.5 billion in share buybacks... and pay out 2 billion to pay bonuses to its employees.

►Also read: TotalEnergies releases the best profit in its history, the French government embarrassed

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