Additional European Equity News

Aston Martin Lagonda (AML LN) - FY 2022 (GBP): Revenue 1.38bln (prev. 1.10bln Y/Y). Adj. EBITDA 190mln (prev. 138mln). Adj. operating -118mln (prev. -74mln). (Newswires)

Babcock (BAB LN) - Co. has announced the completion of sale of its Aerial Emergency Services business, as a result, defence now accounts for around two thirds of Co's revenue. (Newswires)

Bayer (BAYN GY) – Submits Aflibercept 8 MG for marketing authorisation within Japan. (Newswires)

Beiersdorf (BEI GY) – FY 2022 (EUR): Revenue 8.80bln (exp. 8.79bln). Adj. EBIT 1.16bln (prev. 993mln Y/Y). Net 771mln (prev. 655mln). Organic revenue +10.2% Y/Y. Adj. Operating Margin 13.2% (prev. 13.0%). (Newswires)

Cellnex Telecom (CLNX SM) - FY 2022 (EUR): Revenue 3.50bln (exp. 3.49bln). Adj. EBITDA 2.63bln (exp. 2.63bln). Net -297mln (prev. -363mln). Co. affirms FY23 EBITDA and Revenue guidance. (Newswires)

Ericsson (ERICB SS)/Swisscom (SCMN SW) - Cos and AWS (AMZN) have collaborated on 5G Core for its hybrid cloud. (Newswires)

Eurofins Scientific (ERF FP) – FY 2022 (EUR): Revenue 6.71bln (prev. 6.72bln Y/Y). Adj. EBITDA 1.51bln (prev. 1.90bln). Co. cut its FY23 adj. EBITDA guidance to EUR 1.35-1.4bln (prev. 1.58bln), but raises revenue guidance to 6.6-6.7bln (prev. 6.55bln). (Newswires)

Equinor (EQNR NO) – Strengthening position in the northern-North Sea, to acquire equity interest in five discoveries in Troll, Fram and Kvitebjordn area. (Newswires)

Flughafen Wien (FLU AV) - FY 2022 (EUR): Revenue 693mln (prev. 407mln Y/Y). EBITDA 296mln (prev. 154mln). Net 128mln (prev. 6.6mln). (Newswires)

Homebuilders – UK CMA has commenced a market study into the homebuilding sector, amid concern over costs and availability of housing. CMA said the work could result in policy recommendations or enforcement action against Cos. (FT)

Kemira (KEMIRA FH) - Share offering by shareholder Solidium is reportedly price at EUR 16.20/shr (vs close EUR 18.13/shr), according to reports. (Newswires) 

LVMH (MC FP) - In accordance with its buyback programme, mandated the acquisition of own shares for a maximum of EUR 1.5bln between March 1st and July 20th; intention is to cancel repurchased shares. (GlobeNewswire)

Persimmon (PSN LN) – FY22 (GBP): Revenue 3.8bln (exp. 3.7bln), PBT 730mln (exp. 779mln), dividend 0.60/shr; intends to pay an interim dividend in H2 for 2023, intention is to at least maintain 2022 dividend with a view to increasing it over time. Current forward sales are 1.52bln. (Newswires)

Polymetal (POLY LN) - Co. discloses FY22 ore reserves -9% Y/Y, largely due to depletion. (Newswires) 

Purplebricks (PURP LN) – Launch of formal sale process under takeover code. Following the February 17th announcement of a strategic review, Co. has “received several credible expressions of interest that the Board wish to pursue in a coordinated fashion, alongside engaging with a wider range of potentially interested parties, in relation to a potential acquisition of the Company or some or all of the Group’s business and assets.”. Co. adds that it “is not currently in receipt of an approach from any potential offeror at the date of this announcement.”. (Newswires)

Puma (PUM GY) – Q4 2022 (EUR): Revenue 2.197bln (exp. 2.13bln), Net 1mln (exp. 8mln), EBIT 41mln (exp. 36mln). Proposes a 0.82/shr dividend (exp. 0.79/shr). FY23 guidance: EBIT 590-670mln (exp. 663mln). (Newswires)

Reckitt (RKT LN) - Q4 2022 (GBP): LFL sales +6.2% (exp. +5.5%). FY dividend 1.833/shr (prev. 1.746/shr Y/Y). Co. sees 2023 adj. operating margins to be in line or slightly above 2022 levels. (Newswires)

Saipem (SPM IM) – Co. has been awarded a USD 400mln offshore drilling contract. (Newswires)

Sydbank (SYDB DC) - Q4 2022 (DKK): Core income 1.504bln (prev. 1.156bln Y/Y). Core Earnings 871mln (prev. 581mln). PBT 884mln (prev. 482mln). (Newswires)

Wier Group (WEIR LN) - FY 2022 (GBP): Revenue 2.47bln (prev. 1.93bln Y/Y). Pretax 348mln (prev. 249mln Y/Y). Adj. operating margin +70bps Y/Y. (Newswires)

ABN AMRO (ABN NA) upgraded to Hold from Sell at Berenberg

Adidas (ADS GY) upgraded to Buy from Hold at HSBC

BAE Systems (BA/ LN) downgraded to Hold from Buy at Berenberg

Dassault Aviation (AM FP) downgraded to Hold from Buy at Berenberg

Eni (ENI IM) downgraded to Neutral from Outperform at Exane BNP

Givaudan (GIVN SW) downgraded to Equal Weight from Overweight at Morgan Stanley

J.D Wetherspoon (JDW LN) downgraded to Hold from Buy at Stifel Nicolaus

Persimmon (PSN LN) reiterated with Overweight at JPMorgan Chase

UPM (UPM FH) initiated with Overweight at Barclays

01 Mar 2023 - 07:39- Research Sheet- Source: Newsquawk