Additional European Equity News

BAE Systems (BA/ LN) - FY (GBP): Sales 28.33bln (exp. 28.09bln), Adj. EBIT 3.01bln (exp. 2.97bln); sees initial FY25: sales increase by 7-9%, underlying EBIT 8-10%. (Newswires)

Castellum (CAST SS) - FY (SEK): profit from property management 4.819bln, net income 2.357bln (exp. 4.328bln), proposes dividend of 2.48/shr, (exp. 2.31) operating income 6.786bln

European Brandy - China said it is continuing its anti-dumping investigation into EU brandy, following a preliminary inquiry last year that led to temporary measures. The ongoing probe concerns the impact on French brandy shipments, particularly in China's duty-free market, where sales have significantly declined, Bloomberg reports.

Glencore (GLEN LN) - FY24 (USD): Revenue 230.944bln (exp. 238.406bln), Adj. EBITDA 14.358bln (exp. 14.402bln). EBIT 6.938bln (exp. 6.882bln); Announced a share buyback of up to USD 1bln

MTU Aero (MTX GY) - FY (EUR): Revenue 7.5bln (exp. 7.41bln), Adj. EBIT 1.05bln (exp. 1.03bln), Adj. Net Income 764mln (exp. 756mln). Outlook 2025: Expects Adj. EBIT growth in mid-teens percentage range (prev. low to mod-teen percentage range). Expects rev. between 8.7-8.9bln (prev. guided 8.03-8.5bln). (Newswires) 

SBB (SBBB SS) - Q4 (SEK): pre-tax profit -7.174bln (exp. -3.310bln), operating income 537mln (prev. 713mln), rental income 792mln (prev. 1.069bln); has identified non-strategic assets of “about” 10bln to be sold over time, upcoming acquisitions are attributable to previously entered agreements, totalling SEK 25mln (Newswires)

STMicroelectronics (STM FP) upgraded to Buy from Hold at Jefferies