Additional European Equity News

Ashmore (ASHM LN) – HY (GBP): Revenue 93mln (exp. 86mln), EPS 0.085. AUM 54bln, -3% over a six-month period. Maintains the 0.048/shr interim dividend. (Newswires)

Addtech (ADDTB SS) - Q3 (SEK): EPS 1.45 (prev. 1.40 Y/Y), Revenue 4.96bln (prev. 4.65bln Y/Y). (Newswires) 

Assa Abloy (ASSAB SS) – Q4 (SEK): Sales 36.9bln (exp. 37.2bln), EBIT 5.7bln (exp. 5.77bln), proposes a 5.40/shr dividend. (Newswires)

Babcock (BAB LN) – Co. said expectations for another year of growth are unchanged, continues to build towards attaining its medium-term guidance. (Newswires)

Barratt Developments (BDEV LN) - H1 (GBP): Pretax 157.1mln (prev. 521.5mln Y/Y), Revenue 1.85bln (exp. 1.82bln, prev. 2.78bln Y/Y). Agrees all-share offer for Redrow (RDW LN) at GBP 2.52bln value. (Newswires)

Carlsberg (CARLB DC) – FY23 (DKK): Adj. Net 7.97bln (prev. 8.18bln Y/Y), EBITDA 15.2bln (exp. 15.1bln, prev. 15.7bln Y/Y), Revenue 73.6bln (exp. 73.3bln, prev. 70.3bln Y/Y). Organic Rev. Growth +9.2% (exp. +8.8%), Organic beer volumes -0.5%. (Newswires)

Danske Bank (DANSKE DC) – All approvals in place regarding Nordea’s purchase of Danske Bank’s personal customer business in Norway. (Newswires)

Fortum (FORTUM FH) – Q4 (EUR): Revenue 1.86bln (exp. 2.4bln), EBIT 376ln (exp. 471mln), EPS 0.45 (exp. 0.41), adj. EBITDA 459mln (exp. 567mln). Maintains dividend policy,  2023 payment of 1.15/shr proposed. Clarifies strategic focus: investigating longer-term opportunities in new nuclear via the ongoing feasibility study; expects an optimisation premium of EUR 6-8/MWh depending on market conditions, volatility and electricity pricing. (Newswires)

Intesa Sanpaolo (ISP IM) – CEO says keeping Chair for another mandate would reduce risks. Bank would have M&A targets in wealth management, but prices and goodwill make value creation impossible. (Newswires)

Just Eat Takeaway (JET LN) – Mayte Oostervield nominated as CFO. (Newswires)

Kindred (KIND SS) – Q4 (EUR): Net -18.7mln (+50mln Y/y), Revenue 312.9mln (prev. 312.9mln Y/Y). (Newswires)

Nestle (NESN SW) – US District Judge has ruled that P&L Development can, for now, pursue its lawsuit against Co. owned Gerber & Perrigo regarding antitrust violations. (Newswires)

Orsted (ORSTED DC) – Q4 (DKK): Net -248mln (prev. -329mln Y/Y), EBITDA 686mln (prev. +6.7bln Y/Y), Revenue 21.5bln (exp. 22.6bln).  To cut 800 jobs globally. Pauses dividends for FY 2023-2025. (Newswires)

Redrow (RDW LN) – H1 (GBP): Revenue 756mln, EPS 0.187, PBT 84mln. (Newswires)

Sainsbury’s (SBRY LN) – Continues to forecast FCF of at least GBP 500mln/yr, Capex will increase to between GBP 800-850mln over next 3 years. Forecast at least GBP 1.6bln over next three years. Now commit to progressive dividend from start of the next financial year and commencement of share buyback programme; GBP 200mln to be bought back over period. (Newswires)

Smurfit Kappa (SKG LN) – FY (EUR): Revenue 11.27bln (exp. 11.41bln), EBITDA 2.08bln (exp. 2.04bln), adj. Operating 1.4bln, PBT 1.05bln (exp. 1.19bln), EPS 2.94. Final dividend of 1.18/shr, +10%. Westrock deal expected to close in July. Look forward to the year ahead with “confidence and excitement”. (Newswires)

TotalEnergies (TTE FP) - Announces start of production from the Akpo West Field on the PML2 license in Nigeria. (Newswires) 

Aeroports de Paris (ADP FP) upgraded to Buy from Neutral at Kempen

Demant (DEMANT DC) downgraded to Hold from Buy at SEB

07 Feb 2024 - 07:11- EquitiesResearch Sheet- Source: Newsquawk