Additional European Equity News

Abrdn (ABDN LN) – H1 (GBP): Revenue 721mln (exp. 720mln), adj. EBIT 127mln (exp. 132mln), adj. EPS 0.062, PBT -169mln (exp. 157mln), Net -145mln (exp. 125mln). Extending original instruction of share buyback programme to a maximum GBP 300mln (prev. 150mln), period extends to March 2024. On track to deliver investment cost savings target. (Newswires)

Dechra Pharma. (DPH LN) - EQT adds further co-investors to the GBP 4.5bln bid for the Co. (Newswires)

FLSmidth (FLS DC) – Prelim. Q2 (DKK): Revenue 6.4bln (exp. 5.92bln), Order Intake 5.5bln, EBITA Margin 5.2%. FY23 guidance raised: Revenue 24bln (prev. 23-24bln, exp. 24bln). Short/mid-term outlook for the cement industry is increasingly impacted by a slow-down in market demand. Expect mining levels in 2023 to be largely stable YY, some delays in larger investment decisions. (Newswires)

Fingerprint Card (FINGB SS) - Signs exclusive deal with Benjilock to promote premium Biometric access control globally, will see Benjilock incorporate the Co's biometric sensor, software and algorithm for physical access security solutions. (Newswires)

Glencore (GLEN LN) - H1 (USD): Revenue 107.4bln (exp. 106.23bln). Adj. EBITDA 9.40bln (exp. 10.06bln; -50% Y/Y). Net 4.57bln (exp. 4.70bln); Co. notes of a new USD 1.2bln share buyback programme. (Glencore)

IHG (IHG LN) - H1 (USD): Segment Revenue 1.031bln (exp. 1.014bln). Operating profit 479mln (prev. 377mln Y/Y). Fee margin 58.8% (prev. 55.5%). H1 RevPAR up +24% Y/Y; CEO says "Travel demand is very healthy, with RevPAR improving across all markets". (IHG)

IWG (IWG LN) – H1 (GBP): Revenue 1.67bln (prev. 1.45bln), EBITDA 687mln (prev. 604mln), Operating Profit 94mln (prev. 37mln), EPS -0.06 (prev. -0.036). FY outlook remains cautiously optimistic, not changed FY expectations. (IWG)

Liontrust (LIO LN) - Received change in control approval from UK's FFCA in relation to the proposed acquisition of GAM (GAM SW). (Newswires)

RTL (RRTL GY) - H1 (EUR): Revenue 3.1bln, -5.1% YY, adj. EBITA 250mln, -50.1% YY, Profit 132mln, -56.6% YY. Cuts FY23 outlook to around 7bln. (Newswires)

Siemens (SIE GY) – Provided information to prosecutors on issues uncovered during ongoing compliance probe. Investigative measures in Austria relating to the disclosure. Five arrested, searches conducted as part of the probe. (Newswires)

Spirax-Sarco (SPX LN) - Nimesh Patel is appointed CEO, effective 16th Jan 2024. (Newswires)

Telecom Names – Italy has dropped plans to increase limits on electromagnetic emissions, a level that the likes of Telecom Italia (TIT IM) have previously criticised as being too low vs European peers. (Newswires)

Demant (DEMANT DC) upgraded to Buy from Hold at Nordea

Haleon (HLN LN) upgraded to Hold from Sell at Investec

08 Aug 2023 - 07:15- EquitiesExclusive- Source: Newsquawk