Additional European Equity News

Adyen (ADYEN NA) - FY (EUR): Net Revenue 1.99blm (exp. 1.99bln), EBITDA 992.3mln (exp. 974.7mln). Expects slight acceleration in annual net rev. growth rate in 2025. (Newswires)

BNP (BNP FP) - Co. and BPCE finalise agreement creating Estreem. (Newswires) 

British American Tobacco (BATS LN) - FY (GBP): Revenue 25.86bln (exp. 26.12bln). Outlook: Adj. Profit from op. growth 1.5-2.5%. Commitment to dividend growth in sterling terms and GBP 900mln share buyback. Sees significant regulatory and fiscal headwinds in Bangladesh and Australia to impact combustibles performance. Commits to GBP 900mln share buyback; dividend growth of 2%. (Newswires) 

Barclays (BARC LN) - FY (GBP): PBT 8.1bln (prev. 6.6bln), Group Income 26.8bln, +6% Y/Y; CET1 13.6% (exp. 13-14%), adj. NII 11.2bln, Credit Impairment charges of 2bln. Intends to initiate a further buyback of up to GBP 1bln. 2025 Guidance: RoTE 11%, NII 12.2bln, CET1 13-14%. (Newswires) 

Commerzbank (CBK GY) - Co. and Visa (V) agree on strategic business in card business. (Newswires) 

Eni (ENI IM) - Coo and Renault sign agreement to for collaboration in decarbonisation of the transport sector. (Newswires) 

Coca Cola HBC (CCH LN) - FY (EUR): Revenue 10.75bln (exp. 10.69bln), Adj. EBIT 1.19bln (exp. 1.17bln). (Newswires)

Relx (REL LN) - FY (GBP): Revenue 9.4bln (exp. 9.5bln), adj. PBT 2.9bln (exp. 2.84bln), adj. EPS 1.2 (exp. 1.2). Plans a GBP 1.5bln buyback in 2025. (Newswires)

Tate & Lyle (TATE LN) - Q3 Trading Update: Revenue +14% Y/Y. Sees Fy24/25 EBITDA growth to be lower end of guidance range. (Newswires) 

Outokumpu (OUT1V FH) - Q4 (EUR): Sales 1.4bln (exp. 1.38bln). Adj. EBITDA exp. to be higher compared to Q4. (Newswires) 

Unilever (ULVR LN) - FY (EUR): Adj. Op Profit 11.2bln (exp. 10.9bln), Sales 60.8bln (exp. 60.70bln); new EUR 1.5bln share buyback announced; anticipates a slower start to 2025 with subdued market growth in the near term  Q4: Underlying Sales +4% (exp. 3.93%)  Productivity programme ahead of plan with a reduction of 2500 sites by end-2024.  Expects market and Co. growth to improve during the year as price increases, reflecting higher commodity costs in 2025. (Newswires) 

Porsche AG (P911 GY) upgraded to Hold from Reduce at HSBC