Additional European Equity News

Beiersdorf (BEI GY) - H1 revenue EUR 3.87bln vs exp. EUR 3.82bln, EBIT EUR 472mln vs exp. EUR 541mln, EPS EUR 1.26. (Newswires)

Continental (CON GY) - Q2 revenue EUR 9.9bln vs exp. EUR 9.7bln, net EUR 545mln vs exp. EUR 513mln, adj. EBIT EUR 711mln vs exp. EUR 584mln. Chip bottlenecks and increasing raw material prices will impact the auto industry through FY21. (Newswires)

Evraz (EVR LN) - H1 EBITDA USD 2.08bln vs exp. USD 2.27bln, net profit USD 1.212bln vs prev. USD 0.5bln. An interim dividend of USD 0.55/shr has been delcared. (Newswires)

Frasers Group (FRAS LN) - CEO role will transition from Ashley to Michael Murray over FY22. FY revenue GBP 3.62bln vs exp. GBP 3.7bln, EBITDA GBP 390mln vs exp. GBP 409mln. (Newswires)

Glencore (GLEN LN) - H1 revenue USD 93.8bln vs exp. USD 116bln, net income USD 1.277bln vs prev. USD -2.6bln, adj. EBITDA USD 8.7bln vs exp. USD 8.40bln. USD 650mln share buyback, to conclude by the release of FY21 report and a USD 500mln special cash distribution payment for September. Overall top-ups increase planned 2021 shareholder returns to USD 2.8bln. Coal business significantly impacted by weak pricing and reduced volumes earlier in the year, expect a significantly improved end to 2021. (Newswires)

Hannover Re (HNR1 GY) - Q2 EBIT EUR 552.3mln vs exp. EUR 460mln, GWP EUR 14.5bln vs prev. EUR 13.1bln YY. Envisages an unchanged payout ratio for the ordinary dividend in a 35-45% range of IFRS group net income. (Newswires)

Mondi (MNDI LN) - H1 revenue EUR 3.6bln vs prev. GBP 3.45bln, EBITDA EUR 709mln. Declare an interim dividend of EUR 0.20/shr. Signed a EUR 750mln revolving credit facility. (Newswires)

Outokumpu (OUT1V FH) - Q1 revenue EUR 1.8bln vs exp. EUR 1.85bln, adj. EBITDA EUR 223mln vs exp. EUR 204mln. Significant raw-material related inventory and metal derivative gains/losses not expected in Q3. (Newswires)

Pharma Names - UK CMA has provisionally found that Pfizer (PFE) and Flynn abused their dominant positions to overcharge the NHS for vital anti-epilepsy drugs. (Newswires)

Rolls Royce (RR/ LN) - H1 revenue GBP 5.23bln vs exp. GBP 5.39bln, underlying operating profit GBP 307mln vs exp. GBP -156mln. Good start to the year with improving cash flow, strong liquidity position. Restructuring is generating results and expects to achieve over GBP 1bln in savings for 2021. (Newswires)

SBB (SBB SS) - To construct 1k apartments/year in Sweden. (Newswires)

Serco (SRP LN) - H1 revenue GBP 2.2bln, +19%; interim dividend GBP 0.08/shr, first such payment since 2014. Order book increased to GBP 14.1bln vs prev. GBP 13.5bln. FY21 guidance maintained. (Newswires)

WPP (WPP LN) - H1 revenue GBP 6.1bln vs exp. GBP 5.3bln, operating profit GBP 484mln vs exp. GBP 517mln. GBP 248mln buyback in H1, GBP 350mln planned for H2. GBP 0.125 interim dividend declared, +25%. (WPP)

LLOYDS (LLOY LN) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS

05 Aug 2021 - 07:04- Research Sheet- Source: Newsquawk