Additional European Equity News

1&1 (1U1 GY) - 2024 Guidance: Service Revenue 3.33bln, EBITDA 686mln, CAPEX 460mln. (Newswires)

Barclays (BARC LN) - Added to the Top Pick list at Morgan Stanley. (Newswires)

Barratt Development (BDEV LN)/Redrow (RDW LN) - UK CMA has identified a competition concern, given Barratt opportuning to resolve the issue. (Newswires)

Beazley (BEZ LN) - H1 (USD): Insurance Written Premiums 3.1bln (prev. 2.9bln), Net Insurance Written Premiums 2.58bln (prev. 2.35bln), PBT 728mln (prev. 366mln), EPS 0.687 (prev. 0.349). (Newswires)

Deliveroo (ROO LN) - H1 (GBP): Orders 147mln (prev. 152mln), GTV/order 25 (prev. 24), Revenue 1.03bln (prev. 1.02bln), adj. EBITDA 61mln (prev. 39mln). CEO: "...clear that there is a lot of room for growth in our industry". FY Guidance: adj. EBITDA seen in the upper-half of the 110-130mln guided range. (Newswires)

Duerr (DUE GY) - Q2 (EUR): Sales 1.2bln (exp. 1.17bln), EBITDA 80mln (exp. 111mln). Expects FY Order Intake to hit the upper-end of the guided range, sales expected to gain momentum in H2. (Newswires)

Entain (ENT LN) - H1 (GBP): EBITDA 524mln, +5% Y/Y. FY24 Guidance Upgraded: low single-digit positive 2 proforma 3 growth in Online NGR (from low single-digit negative). (Newswires)

Getlink (GET FP) - July: shuttle traffic 101.9k trucks, +4% Y/Y; 258.4k passenger vehicles, -2% Y/Y. (Newswires)

Hikma (HIK LN) - H1 (USD): Revenue 1.56bln (exp. 1.5bln), Operating Profit 351mln, adj. Operating 402mln. Upgrades FY Guidance: Revenue growth of 6-8% (prev. guided 4-6%), Core Operating Profit 700-730mln (prev. guided 660-700mln). (Newswires)

Mining Names - BHP is reportedly planning to sell Brazilian copper and gold assets it acquired in the takeover of Oz Minerals. (Newswires)

Outokumpu (OUT1V FH) - Q2 (EUR): Sales 1.54bln (exp. 1.65bln), adj. EBITDA 56mln (exp. 55mln), EBIT 1mln (exp. 0mln). Outlook: slow market recovery in Europe expected to continue, market environment for business are Americas is expected to remain soft. (Newswires)

Rheinmetall (RHM GY) - Q2 (EUR): EBIT 235mln (exp. 230mln), Margin 10.5%; H1 backlog at 48.6bln, +62%. 155mm contract has driven nominations to an all-time high. Guidance: expects annual sales growth of c. 2bln in the coming years. "well on the way to reaching annual targets". (Newswires)

Persimmon (PSN LN) - Co. sees annual homebuilding at the top end of its forecast range, helped by easing mortgage rates. (Newswires)

Siemens (SIE GY) - CEO: China destocking to continue well into FY25; exceptionally strong Q3 software business growth will not repeat itself. (Newswires)

Spirax Group - H1 (GBP): Revenue 827mln (prev. 850mln), Operating Profit 147mln (prev. 132mln), Margin 17.8% (prev. 15.5%), EPS 1.238 (prev. 1.125). H2 expected to be stronger than H1. Do not anticipate a meaningful recovery, for biopharm demand, until late-2024. (Newswires)

08 Aug 2024 - 07:15- EquitiesResearch Sheet- Source: Newsquawk