The 2015 budget deficit is 0.1 percent lower than expected in the Budget Memorandum 2015 and amounts to a deficit of 2.1 percent of the gross domestic product. This is due to the influence of favorable economic developments, lower expenditure on social security and healthcare, lower interest expenses and a higher revenue.
Dutch oil and gas firm NAM has to significantly cut its costs to reach its financial targets, a company's spokesman confirmed after a report by FD. The costs incurred by the company have to decrease by at least 25 percent.
Underlying net profit of ABN Amro increased by 44 percent compared to the first quarter of 2014. The first-quarter profit of the bank this year is at 543 million euros. The cost/income ratio of the bank improved from 56 to 58 percent.
SBM Offshore is laying off more workers than initially expected, the gas and oil supplier announced on Thursday at the presentation of the figures for its first quarter performance. The company had a significantly lower turnover than a year before, partly because of the sharp decrease in the oil prices, reports Telegraaf.
ING bank reported a net result of 1.18 billion for the first quarter of 2015. This is a 43 percent improvement on the result from a year ago, and more than double the amount earned in the fourth quarter of 2014. Including the performance of the insurance branch, ING showed a net result of 1.77 billion in the first quarter.
TomTom expects that the financial volume of orders to come from the automotive industry this year should be around 220 million euros. It is possible that the amount is even surpassed, the company’s CEO Harold Goddijn said on Friday during a shareholder meeting.
The Telegraaf Media Group, publisher of the newspaper De Telegraaf, suffered a loss of 38.09 million euros last year, compared to a profit of 177.9 million euros in 2013. The revenue also decreased from 542.2 million euros in 2013 to 514.9 million euros last year, De Telegraaf reports.
Large retail chains are trying to lure customers with huge discounts at a time where they need to earn their money. "It is total panic," conclude retail experts.