Additional European Equity News

Aegon (AGN NA) - Q1 2023 (EUR): Operating capital generated 292mln (prev. 278mln Y/Y). Solvency II ratio 210% (prev. 208%). Co. is on track for closing the transaction regarding Aegon's Dutch unit in H2 2023. (Newswires) 

AstraZeneca (AZN LN) - Tagrisso plus chemotherapy improved progression-free survival (PFS) in lung cancer. (AstraZeneca)

Auto Names - EU27 New Car Registrations (Apr) Y/Y 17.2% (prev. 28.8%); Volkswagen Group (VOW3 GY) +31.6%, Stellantis (STLAM IM/ STLAP FP) +8.2%, Renault Group (RNO FP) +39.5%, BMW (BMW GY) 4.4%, Merecedes-Benz Group (MBG GY) +2.4%. (acea) 

British Land (BLND LN) - FY (GBP): Adj. Net Income 0.283mln (exp. 0.253mln), Basic EPS -1.12 (exp. 0.27), Dividend per Share 0.226 (exp. 0.218), Net Income -1.039bln (Newswires) 

Elior (ELIOR FP) - H1 (EUR): Revenue 2.48bln (exp. 2.47bln), adj. EBITA 41mln (prev. -16mln), Retention rate 91.3% (prev. 92.6%). FY Guidance: organic revenue growth of circa. 10%, adj. EBITA margin at the lower-end of initial 1.5-2.0% range. (Newswires)

Experian (EXPN LN) - 2023 (USD): Revenue 6.587bln (prev. 6.216bln). Benchmark EPS 1.351 (prev. 1.245). Benchmark EBIT 1.79bln (prev. 1.65bln). (Experian IR)

Italian Banks – Reportedly seeking to end a dispute over the government’s efforts to reduce the cost of electronic payments, via Reuters citing sources. (Reuters)

JD Sports Fashion (JD/ LN) – FY (GBP): Revenue 10.13bln (exp. 9.777bln), Gross Profit 47.8% (prev. 49.1%), EBITDA 169bln (exp. 1.67bln), Operating Profit 1.06bln (prev. 1.013bln), PBT 991mln (exp. 966mln). (JD Sports)

LSE (LSEG LN) – Blackstone and Thomson Reuters Corp. are part of a consortium which is looking to sell GBP 2.4bln worth of stock in LSE, via Bloomberg citing terms; stock offered represents a 5.1% stake. Subsequently, Barclays Bank provides results of placing in Co. of 33mln voting ordinary shares. Aggregate gross sales proceeds circa. GBP 2.7bln. (Newswires)

SAP (SAP GY) - CEO, in post-earnings commentary, said supply chain constraints have eased further. CFO said the Co. continues to anticipate a relatively high order backlog at the end of FY23 and the Co. is on course for a strong H2. (Newswires) 

Sage Group (SGE LN) – H1 (GBP): Revenue 1.09bln (exp. 1.05bln), Operating Profit 157mln, EBITDA 275mln (exp. 254mln). (Newswires)

Segro (SGRO LN) - COO Andy Gulliford will be retiring from business and stepping down from the board on 30 June 2023. (Newswires)

Shell (SHEL LN) – To use SparkCognition’s AI-based tech. in deep sea exploration/production to increase offshore output. (Newswires)

Siemens (SIE GY) - CEO says they continue to invest organically and are looking at bolt on deals; not ruling out big acquisitions. (Newswires)

Volkswagen (VOW3 GY) - China spokesperson denies the FT report that they are in talks with Huawei about licensing software for autos in China. (Newswires)

Watches of Switzerland (WOSG LN) – FY (GBP): Revenue 1.5bln (exp. 1.53bln), strong performance in-line with guidance. Entering FY24 significantly ahead of the long range plan. (Newswires)

Air France (AF FP) upgraded to Outperform from Neutral at Davy Research

17 May 2023 - 07:20- EquitiesResearch Sheet- Source: Newsquawk