Additional European Equity News

888 (888 LN) – Confirms appointment of Sean Wilkins to board and CFO with immediate effect. (Newswires)

3i (III LN) - Q3 (GBP): NAV/shr 20.34 (prev. 18.86 Y/Y), LFL Revenue +16.7% (prev. +18.1% Y/Y). (Newswires) 

Axfood (AXFO SS) - Q4 (SEK): EPS 2.42 (prev. 1.62 Y/Y), Adj. Op 815mln (prev. 734mln Y/Y), Revenue 20.8bln (prev. 19.7bln Y/Y)

Adidas (ADS GY) – Red Sea issues are resulting in a three-week delay in some areas. Disruption is currently having a negative effect on margins. (Newswires)

Airtel Africa (AAF LN) – Q3 (GBP): Revenue 3.86bln (prev. 3.9bn), EBITDA 1.9bln (prev. 1.91bln Y/Y), EPS 7.1 (prev. 10.8). Plan 100mln share buyback. (Newswires)

BT (BT/A LN) – 9-month update (GBP): Revenue 15.75bln (prev. 15.34bln), adj. EBITDA 6.12bln (exp. 5.95bln). Q3: Revenue 5.34bln (exp. 5.19bln). Reconfirming all FY24 financial outlook metrics. (Newswires)

Cellnex (CLNX SM) - Co. has hired Deutsche Bank as a financial advisor to looking into the sale of Austrian subsidiary, via Expansion citing sources. (Expansion)

DSV (DSV DC) – Q4 (DKK): Revenue 36.5bln (exp. 38.1bln), Net 2.94bln (exp. 2.85bln), adj. EBIT 3.95bln (exp. 4.13bln). FY24 Guidance: adj. EBIT 15-17bln (exp. 17.9bln). Towards the end of 2023 saw an improvement in volumes, but a real pick-up in demand did not occur. Sea freight rates declined/remained at low levels during most of the period, though Red Sea disruption led to a sudden increase. Witness soft demand and gradual normalisation of global freight markets. Ready to make acquisitions, incl. big ones. (Newswires)

Euronav (EURN BB) – Q4 (USD): EPS 2.03 (exp. 0.49), Revenue 270.9mln (exp. 260mln). (Newswires)

Evolution (EVOG SS) – Q4 (EUR): Revenue 475mln (exp. 481mln), EBITDA 337mln (exp. 337mln), EPS 1.32 (1.33), Net Income 282mln (exp. 287mln). FY Dividend of 2.65/shr (exp. 2.49/shr). Throughout 2023 added 110 new games (exp. 100). Encouraging developments in all regions heading into 2024, untapped potential in Europe, Asia and LATAM fastest growth Y/Y. Plan to add at least four new studio locations. (Newswires)

Getinge (GETIB SS) – Q4 (SEK): adj. EPS 3.11 (exp. 3.25), EBITA 1.32bln (exp. 1.34bln). Proposes a FY dividend of 4.40/shr (exp. 4.09/shr). FY24 Outlook: Net Sales +2 to 5% organically. (Newswires)

GSK (GSK LN) – Reaches confidential settlement with David Browne, resolving the case they filed related to Zantac. (Newswires)

Glencore (GLEN LN) – FY23 Production: Copper 1.01Mt (prev. 1.06Mt Y/Y), Gold 747Koz (prev. 661koz Y/Y. Guides initial FY24 Copper production 950-1010Kt, Cobalt 35-40Kt, Zinc 900-950Kt. (Newswires)

Henkel (HEN GY) – To acquire Vidal Sassoon in Greater China, USD 300mln purchase price. (Newswires)

Hexagon (HEXAB SS) – Q4 (EUR): Sales 1.454bln (exp. 1.44bln), adj. EPS 0.118 (exp. 0.11), Net Income 319mln (exp. 310mln). Board of directors propose a dividend of 0.13/shr (prev. 0.12/shr). On track to attain savings goal. (Newswires)v

Infineon (IFX GY) – Co. and Honda (7267 JT) sign an MOU to collaborate on automotive semiconductor solutions. (Newswires)

Novozymes (NZYMB DC) – Q4 (DKK): Sales 4.6bln (exp. 4.6bln), Net Income 695mln (exp. 918mln), EPS 2.52 (exp. 2.90). EBITDA 1.32bln (exp. 1.42bln), EBIT 955mln (exp. 1.09bln). FY24 guidance to be provided no later than March 31st. (Newswires)

Phoenix (PHNX LN) – 2024 Trading Statement (GPB): Net fund flows 7bln +80% Y/Y, BPA Premiums 6bln (prev. 4.8bln), Net outflows 3bln (prev. 5.7bln Y/Y). (Newswires

Shell (SHEL LN) - Q4 (USD): Adj. EBITDA 16.335bln (exp. 16.304bln). Adj. Profit 7.31bln (exp. 6.14bln). Adj. EPS 1.11 (0.97); Announces a share buyback of USD 3.5bln.  SEGMENTS    Integrated Gas 3.963bln (Co. exp. 3.473bln). Upstream 3.088bln (Co. exp. 2.488bln). Marketing 692mln (Co. exp. 708mln). Chemical & Product 83mln (Co. exp. -126mln)  Renewables & Energy Solutions 155mln (Co. exp. 91mln). Corporate -567mln (Co. exp. -533mln). (Shell) Index Weightings FTSE 100 (8.5% - largest), AEX (15.8% - largest), Stoxx 600 (2.0% - 5th largest)

Stora Enso (STERV FH) – Q4 (EUR): Sales 2.17bln (exp. 2.23bln), PBT -378mln (exp. 16mln), EBIT 51mln (exp. 45mln). Proposes a FY dividend of 0.10/shr, proposes that the board has the ability to decide on a second instalment of up to 0.20/shr (total FY exp. 0.239). Q1 is not expected to show a significant market improvement. All variable costs continued to ease in Q4 except for wood. Plans a new programme to improve long-term profitability and competitiveness; could lead to a potential reduction of approximately 1000 employees (4.5% of total workforce). (Newswires)

UPM (UPM FH) - Q4 (EUR): Revenue 2.5bln (exp. 2.72bln), adj. EBITDA 465mln (exp. 479mln), adj. EBIT 323mln (exp. 309mln). (Newswires)

Vivendi (VIV FP) – Canal+ confirms submission of a non-binding offer to MultiChoice, offer anticipated to be ZAR 105/shr. (Newswires)

Volkswagen (VOW3 GY) - Škoda Auto Volkswagen India is extensively testing the Skoda Enyaq EV within the nation for a potential future launch. New EV will require large investment, which would need to be justified by volumes. Looking at possibility of exporting such a vehicle from India. Proposal is affected by the Red Sea crisis. (Newswires)

Leonardo (LDO IM) downgraded to Neutral from Outperform at Oddo

01 Feb 2024 - 07:05- Research Sheet- Source: Newsquawk