Additional European Equity News

ABB (ABBN SW) – Schaeffler (SHA GY) is reportedly among those considering a bid for ABB’s mechanical power transmission business, valued at around USD 1.5bln, according to sources. (Newswires)

Ahold Delhaize (AD NA) - Q1 revenue EUR 18.3bln vs exp. EUR 17.270bln. EPS EUR 0.53 vs exp. EUR 0.489. Co. raises its underlying EPS and net consumer online sales outlooks. (Newswires)

Austrian Post (POST AV) - Q1 net EUR 49.9mln vs prev. EUR 26.3mln Y/Y. Revenue EUR 646.1mln vs prev. EUR 502.3mln. Co. raises FY EBIT and revenue targets. (Newswires)

Banca Generali (BGN IM) – Q1 net profit EUR 135mln vs prev. EUR 80mln, banking income EUR 239mln vs prev. EUR 168mln. CET1 ratio 16.2% at end-March. (Newswires)

Carrefour (CA FP) - Q1 revenue EUR 18.1bln vs prelim EUR 18.6bln. Net EUR 420mln vs prev. EUR 410mln Y/Y. LFL sales +11.6% Y/Y. (Newswires)

Deutsche Bank (DBK GY) – Richard Robinson has been appointed as MD and Vice-Chair of the Global Industrial group, Robison has previously worked at Morgan Stanley. (Newswires)

Diageo (DGE LN) - Co. expects FY21 organic operating profit growth to be slightly ahead of organic net sales growth. Co. is restarting its Return of Capital (ROC) programme of up to GBP 4.5bln to shareholders, with the second phase of the programme of up to GBP 1bln to be completed in FY22. (Newswires)

Dialog Semiconductor (DLG GY) - Q2 revenue EUR 366mln vs exp. EUR 366mln. Operating profit EUR 79.2mln vs exp. EUR 55mln. (Newswires)

Dufry (DUFN SW) - Co. has been awarded duty-free concesssion contract at UK's Teesside International Airport for 12 years. (Newswires) 

EDF (EDF FP) - Q1 revenue EUR 22bln vs exp. EUR 20.495bln. Organic revenue +6.2% Y/Y. co. affirms EBITDA guidance and dividend payout ratio guidance. (Newswires)

Eiffage (FGR FP) – Q1 revenue EUR 3.97bln vs exp. EUR 3.8bln. Expects FY21 results to ‘rise’ and confirms guidance for a significant increase in contracting activity. (Newswires)

Eurazeo (RF FP) – Entered an exclusivity agreement with I-Trace, to become the anchor investor with EUR 65mln. (Newswires)

Eutelsat (ETL FP) – Q3 core-revenue EUR 294mln vs exp. EUR 296mln, total revenue EUR 301mln, -6.4%. FY21 revenue guidance has been upgraded, all other guidance points confirmed. (Newswires)

Flutter (FLTR LN) - CEO of FanDuel group has given notice of intention to leave the group. (Newswires)

Ibedrola (IBE SM) - Q1 revenue EUR 10.09bln vs exp. EUR 10.748bln. EBITDA EUR 2.81bln vs exp. EUR 2.811bln. Net profits EUR 1.03bln vs exp. EUR 1bln. Co. reiterates net income guidance for 2021. (Newswires) 

Ipsen (IPN FP) – Opts-in is to join Exelixis regarding the development of Cabometryx for forms of thyroid cancer. (Newswires)

Kuehne und Nagel (KNIN SW) – Completed the acquisition of APEX for a closing price of CHF 1.1bln, purchase will be finance through funds and 750k new share issuance. (Newswires)

MediaSet (MS IM) - Q1 revenue EUR 634mln vs prev. EUR 682mln, net profit EUR 52mln vs prev. EUR 146mln, operating profit EUR 68mln vs prev. EUR 41mln. In April, advertising sales saw a sustained increase. Confirms FY21 targets. (Newswires)

Prosus (PRX NA) - Prosus announces voluntary offer to acquire 45.4% of Naspers shares. The proposed transaction is expected to create immediate and longer term value for Naspers and Prosus shareholders. On completion, it is expected to more than double the Prosus free float’s effective economic interest in the group’s underlying assets, improving the stock’s liquidity, and place Prosus in the Top 20 of EURO STOXX 50 Index companies, improving its market index weightings. (Prosus)

ProsiebenSat.1(PSM GY) - Q1 net EUR 37mln vs prev. EUR 58mln Y/Y. Adj. EBITDA EUR 143mln vs prev. EUR 157mln. Revenue EUR 938mln vs prev. EUR 926mln. Co. raises FY21 adj. net guidance. (Newswires)

Saint Gobain (SGO FP) – Commenced negotiations with the Chausson Group looking to acquire Panofrance from them, a timber specialist. (Newswires)

Scout24 (G24 GY) – Q1 revenue EUR 93mln, +5.2%. Updates guidance with the Co. expecting higher revenue growth for the FY. (Newswires)

Sixt (SIX2 GY) - Q1 revenue EUR 329.9mln vs prev. EUR 488.5mln Y/Y. Net EUR -10mln vs prev. EUR +16.2mln. (Newswires)

Snam (SRG IM) – Q1 revenue EUR 717mln vs exp. EUR 715mln, EBITDA EUR 559mln vs exp. EUR 565mln, net profit EUR 313mln vs exp. EUR 302mln. Confirms investment plan figures. Anticipates limited COVID-19 impact in FY21. (Newswires)

Telefonica Deutschland (O2D GY) - Q1 revenue EUR 1.85bln vs exp. EUR 1.858bln. Adj. OIBDA EUR 562mln vs exp. EUR 543mln. Co. confirms guidance. (Newswires)

Telefonica (TEF SM) – Telfonica Tech, a subsidiary, has strengthened its alliance with Microsoft (MSFT), according to Expansion. (Newswires)

Tui (TUI LN) - H1 revenue EUR 716mln vs prev. EUR 6.6bln. Net loss EUR 1.47bln. Underlying EBIT EUR -1.31bln. H1 online bookings +56% Y/Y. New bookings for summer 2022 since March have more than doubled. 2021 average summer prices are 22% higher vs 2019. (Newswires) 

Verbund (VER AV) - Q1 revenue EUR 647.1mln vs exp. EUR 1.0bln. (Newswires) 

SWEDBANK (SWEDA SS) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN SACHS

12 May 2021 - 07:13- EquitiesResearch Sheet- Source: Newsquawk