The companies of the world are fighting a survival battle amid the pandemic


PARIS – Companies are seeking all the means at their disposal to deal with the consequences of the recent outbreak of the Corona virus, which caused the closure of factories and the freezing of businesses, with some exceptions.

With the advent of the “season” of the announcement of the quarterly results, most companies tend to reveal very negative data, in contrast there are a few institutions that registered positive numbers.

One of these is Netflix, whose subscribers increased by 15.8 million in the period between January and March, but the American group is aware that this increase may be temporary.

But the overall picture is bleak.

The automotive sector

Sales and revenues for Renault and PSA (Peugeot and Citroen Group) deteriorated, at a time when their factories were expected to recover. Operating profits of the Volkswagen and Daimler groups also fell by 80 percent for the first and 78 percent for the second.

The American company “Ford” expects to suffer a quarterly loss of up to two billion dollars.

In turn, the company expects “Plastic Aluminum” for auto supplies, which was able to withstand the crisis of the emerging virus Corona in the first quarter, “a significant contraction” between April and June.

Food and drinks

Sales of Pernod Ricard, the world’s second largest wine and spirits company, fell by 14.5 percent due to the inability to distribute production at passenger-free airports.

The net profit of Dutch beer maker Heineken fell 68.5 percent.

The Dutch “Unilever” group, which includes the brands Knorr, Lipton, Dove and Magnum, has managed to increase its revenues slightly thanks to the customers’ storage, but it suffers from the closure of restaurants, cafes and fast food points of sale.

The food group “Danone” was able to withstand the first quarter of the year thanks to the heavy demand for the company’s milk and baby products.

Tourism, hotels and restaurants

And the French hotel giant Accor announced that its revenues fell by 17 percent, after closing two-thirds of its 5,000 hotels in the world.

In turn, the Sodexo group of restaurants expects “major repercussions” of the pandemic on its results.

As for the German group “TUI” (the International Federation of Tourism), which is the largest tourism company in the world, it obtained a guaranteed loan from the German state with a value of 1.8 billion euros, to help it withstand after its activities ceased.


Please enter your comment!
Please enter your name here