Additional European Equity News

3I (III LN) - FY (GBP): Total Return 4.5bln (prev. 4.04bln), dividend 0.53/shr, second FY23 dividend of 0.2975/shr to be paid in July 2023. (Newswires)

Airtel Africa (AAF LN) – FY (USD): Revenue 5.25bln (exp. 5.29bln), Net Income 750mln (exp. 613mln), Operating Profit 1.75bln. (Newswires)

Bechtle (BC8 GY) – Q1 (EUR): Revenue 1.54bln (exp. 1.53bln), EBT 79.7mln (exp. 80mln). Confirms FY guidance from March. (Newswires)

Bilfinger (GBF GY) - Q1 2023 (EUR): Orders received 1.39bln, +26%. Q1 FCF -26mln (prev. -76mln). FY23 Guidance confirmed; Expects revenue 4.6bln (prev. 4.3bln), increases EBITA margin 4.1% (prev. 3.8%). (Newswires)

Coloplast (COLOB DC) – Q2 (DKK): Revenue 6.06bln (exp. 6.05bln), Net 1.15bln (exp. 1.27bln), adj. EBIT 1.6bln (exp. 1.75bln), PBT 1.46bln. FY22/23 guidance: growth 8-9% (prev. 9-10%), EBIT margin 28-29% (prev. 28-30%). (Newswires)

Elis (ELIS FP) - Q1 2023 (EUR): Revenue 1.01bln (prev. 833mln). Co. has affirmed FY23 guidance. (Newswires) 

Eutelsat (ETL FP) – Q3 (EUR): Revenue 272mln (exp. 269mln), Broadcast Revenue 157mln, -10.6% YY. End-December backlog 3.5bln (prev. 4.0bln). Confirms FY guidance. (Newswires)

Engie (ENGI FP) - Q1 2023 (EUR): Adj. EBITDA 5.43bln (exp. 4.79bln). Revenue 29.2bln (prev. 25.6bln). Co. raises FY23 recurring net to the high end of guidance. (Newswires) 

Flight Names – Heathrow: 6.4mln passengers travelled in April, early indications that passenger growth may be levelling off with the recovery now stable at 93-95% of 2019 levels. (Newswires)

FTSE 100 Ex-Dividends - Tesco (TSCO LN), HSBC (HSBA LN), and BP (BP/ LN) will trade without entitlement to their latest dividend payouts. (dividenddata)

FLSMIDTH (FLS DC) - Q1 2023 (DKK): Revenue 6.02bln (prev. 4.71bln Y/Y). Adj. EBITDA 362mln (prev. 339mln). Order backlog +14% Y/Y. (Newswires) 

Fortum (FORTUM FH) – To fully write down its Russian assets and deconsolidate the Russia segment. Records impairment of EUR 1.7bln and deconsolidation-related FX translation losses of EUR 1.9bln as the RUB weakened. (Newswires)

Grenke (GLJ GY) - Q1 2023 (EUR): New business 815mln (prev. 690mln). Net 15.9 (prev. 20.5mln). (Newswires) 

Hapag-Lloyd (HLAG GY) - Q1 2023 (EUR): Revenue 5.62bln (exp. 5.34bln). EBITDA 2.22bln (prev. 4.73bln). "The market environment has normalised, with corresponding declines in demand and freight rates. This will undoubtedly have an impact on our earnings over the course of the year. " Co. maintains guidance but caution it could be negatively impacted by the "ongoing war in Ukraine, other geopolitical uncertainties and persistent inflationary pressures". (Newswires/ Hapag-Lloyd IR)

Hannover Rueck (HNR GY) – Q1 (EUR): Net 484mln (exp. 466mln), EBIT 720mln (exp. 634mln), EPS 4.02 (exp. 4.92). Very well on track for FY23 guidance. (Newswires)

ITV (ITV LN) - Q1 2023 (GBP) - Revenue 952mln (prev. 1bln Y/Y). Total advertising revenue -10% Y/Y. ITV studio revenue 457mln, flat Y/Y. (Newswires) 

JD Sports Fashion (JD LN) – Appoints Platt as CFO. (Newswires)

Klepierre (LI FP) - Q1 2023 (EUR): Revenue 372mln (prev. 360mln Y/Y). Co. has affirmed its FY23 net current cash flow. Total net rental income +6.2% Y/Y. (Newswires) 

Lundbeck (LUNDB DC) - Lundbeck and Otsuka announce U.S. Food and Drug Administration (FDA) approval of sNDA for Rexulti® (brexpiprazole) for the treatment of agitation associated with dementia due to Alzheimer’s Disease. (Lundbeck)

Man Group (EMG LN) - Co. named Robyn Grew as its next CEO. (Newswires)  

Rolls-Royce (RR/ LN) - Q1 Trading update: Co. affirms FY Adj. operating profits between GBP 600-800mln. Co. said performance has been in line with expectations, and added the strategic review is on track. (Newswires) 

Sixt (SIX2 GY) - Q1 2023 (EUR): Revenue 695.1mln (exp. 682mln). Pretax 33.3mln (exp. 34.5mln). Co. affirms FY23 revenue guidance. (Newswires) 

Snam (SRG IM) – Q1 (EUR): Revenue 912mln (exp. 870mln), adj. EBIT 372mln (exp. 370mln), adj. Net 301mln (exp. 307mln). (Newswires)

Tag Immobilien (TEG GY) - Q1 2023 (EUR): Adj. EBITDA 59.0mln (prev. 58.9mln), Total Rental Income 120.1mln (prev. 115.6mln), Consolidated Net Profit 33.1mln (prev. 31.2mln), FFO per share 0.24 (prev. 0.33). Confirms FY23 guidance; will propose waiving the 2023 dividend payment for FY22 in order to strengthen capital and financing base and a decision will be made at the end of the year. (Tag Immobilien) 

Telefonica (TEF SM) – Q1 (EUR): Revenue 10.05bln (exp. 9.78bln), Net Profit 298mln (exp. 667mln), OIBDA 3.1bln, -2.4%. Results put the Co. on track to attain FY results. (Newswires)

Tod's (TOD IM) - Q1 2023 (EUR): Revenue 271mln (prev. 250mln Y/Y). Revenue +23% in constant currency. (Newswires) 

UCB (UCB BB) – Co. and Ariceum sign a strategic research collaboration to discover new modalities for treatment of immune-related disease and cancer. (Newswires)

Verbund (VER AV) – Q1 (EUR): Revenue 3.26bln, EBIT 841mln (exp. 865mln), EBITDA 967mln (exp. 990mln). (Newswires)

Wienerberger (WIE AV) - Q1 2023 (EUR): Revenue 1.05bln (exp. 1.02bln). EBITDA 206mln (prev. 228mln Y/Y). (Newswires) 

Wood (WG/ LN) – Q1 Update: Revenue 1.45bln, adj. EBITDA was in-line with expectations. Order book slightly lower than at December 2022. (Newswires)

Salzgitter (SZU GY) reiterated with Underweight at JPMorgan Chase

Siemens Healthineers (SHL GY) reiterated with Overweight at JPMorgan Chase

Tui (TUI LN) upgraded to Hold from Reduce at Numis

11 May 2023 - 07:05- EquitiesResearch Sheet- Source: Newsquawk