Additional European Equity News

Aena (AENA SM) – 9M (EUR): Net 1.14bln (prev. 664.7mln YY), EBITDA 2.11bln (exp. 2.10bln), Revenue 3.78bln (prev. 2.92bln YY). (Newswires)

Alstom (ALO FP) - Secures a eight-year service contract extension worth EUR 950mln from CrossCountry. (Newswires)

British American Tobacco (BATS LN) – Soraya Benchikh has been appointed as CFO, from May 2024. (Newswires)

BT (BT/ LN) - H1 (GBP): Revenue 10.41bln (prev. 10.36bln YY), PBT 1.08bln (prev. 831mln YY), Basic EPS 8.6p (prev. 9.1p YY). Adj. EBITDA 4.09bln (prev. 3.87bln YY). Declares an interim dividend of 2.31p/shr. Confirms financial outlook for FY24. (Newswires) 

Derwent London (DLN LN) – Q3 Trading Update: Lettings GBP 8.5mln on average 10% above December 2023 ERV. (Newswires)

Eurunav (EUR BB) – Q3 (USD): Revenue 278.4mln (exp. 250mln). (Newswires)

Entain (ENT LN) – Q3 Trading Update: Net Gaming Revenue +7%, Continues strong growth in active customers, +26% YY. Betmgm continues to perform strongly with Q3 NGR of approximately USD 458mln, +15% YY. Q3 EBITDA Guidance USD 1-1.05bln, Online FY24 EBITDA margin 24-25%. (Newswires)

Fortum (FORTUM FH) – Initiates an efficient programme: to reduce annual fixed costs by EUR 100mln gradually until end-2025, equating to circa. 10% of FY22 fixed costs. Actions are expected to include personnel reductions. (Newswires)

Fresenius Medical Care (FME GY) - Q3 (EUR): Basic EPS 0.29 (exp. 0.37), Revenue 4.93bln (prev. 4.91bln), Adj. Net Income 168mln, EBIT 324mln. (Newswires) 

Haleon (HLN LN) – Q3 (GBP): Operating Profit 584mln, +2.6%; Revenue +5.0%. FY23 guidance reiterated. Remain confident in mid-term guidance. (Newswires)

Grifols (GRF SM) – 9M (EUR): Adj. EBITDA  1.03bln (exp. 1.02bln), Revenue 4.82bln (exp. 4.84bln). (Newswires)

Howden Journey (HWDN LN) – H1 Trading Update: UK Revenue +0.6% YY, International Revenue +28.4% YY. (Newswires)

Hikma Pharma. (HIK LN) – Upgrades FY guidance for two businesses. CEO: “Our Branded business is performing exceptionally well on an underlying basis and our Generics business has seen key products continuing to drive better-than-expected performance. In Injectables, we are seeing solid growth, supported by a good performance in MENA and Europe, and we have continued to invest across all our regions to expand manufacturing capacity and build our pipeline.”. On track for “strong earnings growth” for the FY. (Newswires)

Intesa Sanpaolo (ISP IM) – Italian antitrust has initiated a probe into the Co. and its mobile-only service Isybank re. the transfer of several hundred thousand customers. (Newswires)

NovoNordisk (NOVOB DC) - CFO: Confident in delivered double-digit sales growth for Wegovy and Ozempic in 2024. CEO: Semaglutide could be used with other agents to treat Alzheimers, given its anti-inflammatory properties. (Newswires)

Sainsburys (SBRY LN) – H1 (GBP): adj. Revenue 16.9bln (exp. 16.9bln), PBT 275mln (exp. 336mln), Net Income 155mln (exp. 239mln). FY23 profit seen at upper-end of guidance range, FCF >600mln (prev. guided >500mln). (Newswires)

Shell (SHEL LN) - Q3 (USD): adj. EBITDA 16.4bln (exp. 16.6bln), adj. EPS 0.93 (exp. 0.937), Net Income 7bln (exp. 6.4bln), adj. Profit 6.22bln (exp. 6.22bln). Announces a new buyback programme of 3.5bln for the next quarter. Total shareholder distributions in quarter amounted to 4.9bln. New buyback takes the total announced shareholder distributions for 2023 to circa. 23bln. Q4 Guidance: integrated gas production 870-930k/BOEPD, Upstream production 1.75-1.95k/BOEPD. FY23 Guidance: Cash CapEx expected between 23-25bln. (Newswires)

Skanska (SKAB SS) - Builds student housing in Norway for NOK 513mln. (Newswires)

Telecom Italia (TIT IM) – Vivendi (VIV FP) has called on the Co’s board to fully examine the alternative proposal from Merlyn, via Reuters citing a letter. (Newswires)

TotalEnergies (TTE FP) – Extends the partnership with Oman LNG, extending it by ten years in Oman LNG and five years in Qalhat LNG. (Newswires)

Smith & Nephew (SN/ LN) – Q3 (USD): Revenue 1.36bln (exp. 1.36bln). FY Guidance: underlying revenue growth expected towards higher-end of guided 6-7% range, trading profit margin seen around 17.5%, reflecting headwinds form China. John Rogers appointed CFO from Q1-2024. (Newswires)

Verbund (VERB AV) – FY23 Guidance: Raised; Net Income 2.25-2.45bln (exp. 2.39bln), EBITDA 4.15-4.45bln (exp. 4.19bln). (Newswires)

Wizz Air (WIZZ LN) – October traffic: 5.4mln passengers, +19.4% Y/Y with a load factor of 92.5%. (Newswires)

Ashmore (ASHM LN) downgraded to Hold from Sell at Canaccord

02 Nov 2023 - 07:10- EquitiesResearch Sheet- Source: Newswires