Additional European Equity News

Auto Names - US NHTSA says it is standing by its initial decision that 51 million air bag inflators in 49 million U.S. vehicles built by 13 automakers pose serious safety risks.

BAE Systems (BAE LN) - H1 (GBP): Revenue 13.4bln (exp. 13bln), adj. EBIT 1.39bln (exp. 1.37bln), Interim Dividend of 0.124/shr. FY24 Guidance Upgraded: underlying EPS to increase by 7-9% & EBIT by 12-14%. (Newswires)

Barclays (BARC LN) - H1 (GBP): NII 6.12bln (prev. 6.3bln), PBT 4.2bln (exp. 4.56bln). Intends to initiate a buyback of up to GBP 750mln. FY24 guidance: NII ex-IB 11bln (prev. 10.7bln), UK NII increased to 6.3bln (prev. 6.1bln). (Newswires)

Credit Agricole (ACA FP) - Q2 (EUR): Revenue 6.8bn (exp. 6.5bln), Net Income 1.8bln (exp. 1.6bln), CET1 17.3%, FICC Trading sales +1.7% Y/Y. (Newswires)

DHL Group (DHL GY) - Q2 (EUR): Revenue 20.6bln (exp. 20.3bln), EBIT 1.4bln (exp. 1.3bln), EPS 0.64 (exp. 0.65). Confirms FY guidance. (Newswires)

Eurazeo (RF FP) - Completion of the Eres group acquisition for over EUR 350mln. (Newswires)

Evonik (EVK GY) - Q2 (EUR): Sales 3.9bln (exp. 3.96bln), Net -5mln, EBITDA 578mln (exp. 554mln). Confirms FY24 guidance. Q3 Guidance: adj. EBITDA 1.9-2.2bln (confirms the guidance raise from July). (Newswires)

FTSE 100 ex dividends - Reckitt Benckiser Group (RKT LN), Lloyds Banking Group (LLOY LN), and RELX (REL LN) will trade without entitlement to their latest dividend payouts. (dividenddata)

Haleon (HLN LN) - H1 (GBP): Organic Revenue growth of 3.5%, FY Guidance: organic revenue growth of 4-6% and organic operating profit growth in the high-single digit. Commencing a buyback to purchase shares of up to GBP 185mln. (Newswires)

Hugo Boss (BOSS GY) - Q2 (EUR): Sales 1.01bln (exp. 1.02bln), Gross Margin increased by 50bps, EBIT 70mln (exp. 82mln). Despite a challenging market environment, FX adj. sales increased in H1 by 3%. (Newswires)

LSEG (LSEG LN) - H1 (GBP): Total Income 4.2bln (prev. 3.9bln), EBITDA 1.9bln (prev. 1.7bln), PBT 693mln (prev. 662mln), dividend 0.41/shr (prev. 0.35/shr). (Newswires)

Melia Hotels (MEL SM) - Q2 (EUR): Net Income 45mln (exp. 52mln), EBITDA 142mln, PBT 61mln. (Newswires)

Mondi (MNDI IM) - H1 (EUR): Revenue 2.7bln (prev. 3.8bln), EBITDA 565mln (prev. 680mln), PBT 296mln (prev. 418mln). (Newswires)

Nexi (NEXI IM) - Q2 (EUR): Revenue 878mnln (exp. 873mln), EBITDA 465mln (exp. 460mln). Confirms FY guidance. (Newswires)

Next (NXT LN) - Increases FY profit guidance to GBP 980mln, +20mln. (Newswires)

Prysmian (PRY IM) - Received a letter of award for Peninsula from Red Electrica (REE SM), project value will be in excess of EUR 0.5bln. (Newswires)

Qiagen (QIA GY) - Q2 (USD): Sales 496mln (exp. 500mln), adj. EPS 0.55 (exp. 0.52). Updates FY outlook: net sales of at least 1.98bln (exp. 1.996bln). (Newswires)

Rheinmetall (RHM GY) - Received a major order from the Spanish army. (Newswires)

Rolls-Royce (RR/ LN) - H1 (GBP): Revenue 8.86bln (exp. 7.7bln), Operating Proft 1.65blnl. Reinstating shareholder distributions. On track to deliver mid-term targets; lifts FY24 adj. Operating Profit guidance to 2.1-2.3bln. 30% pay-out ratio of underlying profit to be paid in 2025. (Newswires)

Saint Gobain (SGO FP) - Priced a double tranche EUR 1.5bln bond issue, bonds were 3x oversubscribed. (Newswires)

Schroders (SDR FP) - H1 (GBP): Net Operating Income 1.17bln, Operating Profit 315mln, AUM at a new peak of 773bln. (Newswires)

Scor (SCO FP) - Q2 (EUR): Net -308mln (prev. -283mln). (Newswires)

Serco (SRP FP) - H1 (GBP): Revenue 2.4bln (exp. 2.37bln), Operating Profit 142mln, dividend 0.0134/shr. FY24 guidance maintained. (Newswires)

Shell (SHEL LN) Q2 (USD) - adj. Profit 6.3bln (exp. 5.98bln), adj. EPS 0.99 (exp. 0.91), adj. EBITDA 16.8bln (exp. 15.7bln), Dividend 0.344 (FY exp. 1.45). 3.5bln buyback announced. CEO: "Shell delivered another strong quarter of operational and financial results. We further strengthened our leading LNG portfolio, and made good progress across our Capital Markets Day 2023 financial targets, including $1.7 billion of structural cost reductions since 2022. Today, we have also announced a further $3.5 billion buyback programme for the next three months. We continue to demonstrate that we are delivering more value with less emissions.". (Newswires/Shell)

Smith & Nephew (SN/ LN) - H1 (USD): Revenue 2.8bln (exp. 2.98bln), Operating Profit 328mln. (Newswires)

Societe Generale (GLE FP) - Q2 (EUR): Revenue 6.7bln (exp. 6.58bln), Net Banking Income 6.6bln, Net 1.11bln (exp. 1.01bln), CET1 13.1% (exp. 13.6%). Cuts FY French Retail NII guidance. (Newswires)

Solvay (SOLB BB) - New buyback; already incl. in existing guidance of FCF. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Launches 3rd tranche of the 2024 buyback programme. (Newswires)

Symrise (SY1 GY) - H1 (EUR): Revenue 2.56bln (exp. 2.56bln), Net 239mln (exp. 238mln). On a profitable growth course in a challenging environment. (Newswires)

Technip Energies (TE FP) - Q2 (EUR): Revenue 1.64bln (exp. 1.57bln), adj. EBIT 116mln (exp. 113mln), adj. Net 105mln (exp. 94mln). Well on track to deliver FY guidance. (Newswires)

Telecom Italia (TIT IM) - H1 (EUR): Revenue 7.1bln, +3.5% Y/Y; EBITDA 2.1bln, +9.4%; Net Financial Debt reduced to 8.1bln. FY24 guidance confirmed. (Newswires)

Tenaris (TEN IM) - Q2 (USD): Sales 3.3bln (exp. 2.7bln), EPS 0.29 (exp. 0.47). (Newswires)

Vonovia (VNA GY) - H1 (EUR): adj. EBITDA 1.27bln, Net -529mln. FY guidance confirmed at the upper-end of the range; CEO says they are very confident in reaching the sales goals. (Newswires) 

Wendel (MF FP) - H1 (EUR): Net 388mln. Launching a new opportunistic EUR 100mln buyback, commencing in August. (Newswires)

Wood Group (WG/ LN) - Extension of the PUSU deadline re. Sidara, extended until the 9th August. (Newswires)

Worldline (WLN FP) - H1 (EUR): Revenue 2.28bln (exp. 2.28bln), Net -29mln, OMDA 514mln. (Newswires)

Wizz Air (WIZZ LN) - Q1 (EUR): Revenue 1.25bln (prev. 1.23bln), load factor 91%, 15.3mln passengers carried. (Newswires)

01 Aug 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk