Additional European Equity News

Airtel Africa (AAF LN) - 9M 2022: (USD): Revenue 3.914bln (prev. 3.492mln Y/Y). EBITDA 1.916bln (prev. 1.702bln). EBIT margin 49% (prev. 48.8%). EPS 0.108 (prev. 0.115). (Airtel Africa IR)

Air Liquide (AI FP) - Co. and TotalEnegies (TTE FP) form a JV to develop hydrogen stations. (Newswires) 

Air Liquide (AI FP) - Co. and TotalEnergies (TTE FP) are to join in developing a network of over 100 hydrogen stations for HGVs in Europe. (Newswires)

Alfa Laval (ALFA SS) – Q4 (SEK): Revenue 16.4bln (exp 15.3bln), adj. EBITA 2.5bln (exp. 2.8bln),  Net Income 1.3bln (exp. 1.5bln). (Newswires)

AKK (AKK SS) - Q4 2022 (SEK): Revenue 13.3bln (exp. 13.2bln). Operating profit 778mln (exp. 793.3mln). (Newswires) 

Anglo American (AAL LN) – Q4 Production Report: +10% YY; Copper +52%, due to ramp up of production from Quellaveco, Peru mine; Rough Diamond +6%. FY Production guidance: Copper 840-930k/T and Diamonds 30-33mln/CT. (Newswires)

ASM International (ASM NA) - announced its intention to invest around USD 100mln in its manufacturing and innovation center in Dongtan, South Korea, by 2025. (globenewswire)

BT (BT/A LN) - 9M 2022 (GBP): Revenue 15.6bln (prev. 15.7bln Y/Y). Adj. EBITDA 5.88bln (prev. 5.71bln). Financial outlook reaffirmed; normalised free cash flow heavily weighted to Q4, reflecting more front-ended capex and back-ended EBITDA and receivable collections than usual. "Consumer: Strong performance in tough market conditions, first full quarter after completion of BT Sport JV. Enterprise: Revenue and EBITDA quarterly progression in FY23 continues. Global: Financial performance continues to stabilise as improved growth portfolio and strong cost transformation offset lower equipment sales and inflationary pressures. Openreach: Revenue and EBITDA growth; FTTP connections continue to grow". (Newswires/ BT IR)

Dassault Systems (DSY FP) - Q4 2022 (EUR): Revenue 1.58bln (exp. 1.40bln). Operating margin 34.9% (prev. 36.8%). Software revenue +9% Y/Y. (Newswires)

DSV (DSV DC) – Q4 (DKK): Revenue 51.2bln (exp. 53.4bln), adj. EBIT 4.75bln (exp. 4.9bln). FY23 guidance: adj. EBIT 16-18bln (exp. 17.7bln). (Newswires)

Electrolux (ELUXB SS) – Q4 (SEK): Net Income -1.9bln (exp. -0.6bln), adj. EBIT -600mln (exp. -730mln), EPS -7.12. Expect FY23 volumes to decline YY, partly mitigated by mix improvements. 2023 market outlook: negative for all regions expected APAC, Middle Eat and Africa which is “neutral”. Proposes no dividend for 2022. (Newswires)

GSK (GSK LN) - Jesduvroq has been approved by US FDA for anaemia of chronic kidney disease in adults on dialysis; additionally, Daprodustat has been approved by the FDA for anaemia of CKD. (GSK)

Julius Baer (BAER SW) – FY (CHF): adj. Net Income 1.05bln (exp. 1.12bln), Operating Income 3.8bln (exp. 4.06bln), adj. EPS 5.04 (exp. 5.51), AUM 424bln, -12%. CEO says they saw client inflows from Credit Suisse (CSGN SW), but nothing out of the ordinary. Proposes an ordinary dividend of 2.60/shr, unchanged. (Newswires)

Konecranes (KCRA FH) – Q4 (EUR): Sales 1.02bln (exp. 1.02bln), EBIT 103mln (exp. 104mln), Orders 879mln (exp. 848mln), PBT 99mln (exp. 96mln), EPS 0.91 (exp. 0.90). (Newswires)

Nestle (NESN SW) – Co. announced the wind down and exit of its Frozen Meals & Pizza business over the next six months in Canada.  (PR Newswires)

Shell (SHEL LN) - Q4 2022 (USD): adj. profit 9.81bln (exp. 8.26bln), EPS 1.39 (exp. 1.15). Revenue 101.3bln (prev. 85.3bln). Announces a USD 4bln share buyback programme and increases dividend by 15% Y/Y; Oil & Gas output 2.83mln BOEPD (exp. 2.8mln). (Newswires)

Siemens Healthineers (SHL GY) – Q1 (EUR): adj. EBIT 647mln (exp. 663mln), adj. EBIT margin 12.7% (prev. 17.6%), Revenue 5.077bln (exp. 5.2bln). Maintains FY23 revenue and adj. EPS guidance. CEO/CFO: margins to improve significantly over the course of the year; price measures effective, will have an impact in Q3/Q4; considerable revenue improvement expected in Q2; sees diagnostic unit at lower-end of forecast range, will make it more difficult to reach upper-end of group forecasts. (Newswires)

Siltronic (WAF GY) – Q4 2022 (EUR): Revenue 472mln (prev. 474mln). EBITDA 168mln (prev. 170.5mln). Co. continues to assume rising demand in the medium and long term. (Newswires)

Superdry (SDRY LN) – CEO says no plans to take Co. private at the moment. (Newswires)

SKF (SKFB SS) - Q4 2022 (SEK): REvenue 25.361bln (exp. 25.273bln). Adj. pretax profit 1.69bln (exp 1.76bln). Adj. EBITD margin 10%. (Newswires)

TotalEnergies (TTE FP) – New salary aid for some staff, increases by 15% the bonus budget for some staff members. (Newswires)

Wizz Air (WIZZ LN) – January: carried 4.15mln passengers, 73% YY; load factor of 86%. (Newswires)

Balfour Beatty (BBY LN) downgraded to Neutral from Buy at UBS

Getinge (GETIB SS) reiterated with Underweight at JPMorgan Chase

Hugo Boss (BOSS GY) downgraded to Hold from Buy at Jefferies 

Husqvarna (HUSQB SS) downgraded to sell from Hold at Nordea

Merck (MRK GY) downgraded to Neutral from Buy at Citi

Rexel (RXL FP) reiterated with Overweight at JPMorgan Chase

Standard Chartered (STAN LN) downgraded to Neutral from Buy at Goldman Sachs

02 Feb 2023 - 07:44- Research Sheet- Source: Newsquawk