Additional European Equity News

Anglo American (AAL LN) - FY22 (GBP): Adj EPS 4.97 (exp. 4.85). Revenue 35.1bln (prev. 20.6bln Y/Y). Underlying EBITDA 14.5bln (prev. 20.6bln). Net 4.51bln (prev. 8.56bln). Co. notes of an impairment charge of USD 1.7bln in relation to Woodsmith. "continued softening in global macroeconomic conditions could see a contraction in consumer spending and demand for diamond jewellery, which may result in lower demand for rough diamonds in the near term. This may be partly mitigated by an increase in demand for diamond jewellery in China, following the removal of Covid-19 restrictions in late 2022." (Newswires/ Anglo American IR) Co. holds a 2.4% weighting in the FTSE 100

AstraZeneca (AZN LN) – Enters an agreement with KYM for CMG901. (Newswires)

Auto1 (AG1 GY) - FY22 (EUR): Revenue 6.53bln (prev. 4.78bln Y/Y). Gross Profits 488.2mln (prev. 430.9mln). Co. aims for adj. EBITDA breakeven in Q4. (Newswires)

BAE Systems (BAE LN) – FY22 (GBP): Sales 23.3bln (exp. 22.6bln), adj. EBIT 2.49bln (exp. 2.39bln), Orders 37bln, Order Backlog 588.9bln, EPS 0.555 (exp. 0.536), Dividend 0.27/shr (exp. 0.26/shr). CFO "For 2023, we're forecasting further top-line growth, continued margin expansion, higher EPS and we're also increasing our rolling three-year cash targets, all of which demonstrate that the business has growing momentum for the future.". (BAE Systems)

Bureau Veritas (BVI FP) – FY22 (EUR): Revenue 5.6bln (exp. 5.6bln), Net Income 466mln (exp. 527mln), adj. Operating Income 902mln, +12.5%. Proposes a 0.77/shr dividend (exp. 0.61/shr). (Newswires)

Duerr (DUE GY) - FY22 (EUR): Orders 5.0bln (exp. 5.03bln), EBIT 206mln (exp. 205mln), Net 134mln (exp. 129mln), Sales 4.3bln (exp. 4.2bln). FY23 guidance: sales 4.5-4.8bln (exp. 4.5bln). (Newswires)

DIA (DIA SM) – Acknowledges communication from majority shareholder Letterone that Dias is to retire from his position. (Newswires)

Ferrovial (FER SM) – Heathrow 2022: passenger numbers 62mln, PBT 169mln (prev. -1.79bln), Revenue 2.9bln (prev. 1.2bln). No 2022 dividend(s) paid and none are planned for 2023. Service is getting back to pre-COVID levels, resource levels now close to this period. (Newswires)

FTSE 100 Ex-Divs - AstraZeneca (AZN LN), GSK (GSK LN), Unilever (ULVR LN), Barclays (BARC LN), Standard Chartered (STAN LN), Land Securities Group (LAND LN), and Endeavour Mining (EDV LN) will be trading without entitlement to their latest dividend payouts. (dividenddata)

Fnac Darty (FNAC FP) - Kretinsky is reportedly looking to increase his stake, prepared to purchase Ceconomy's (CEC GY) 24% share, via Reuters citing BFM sources. (Newswires)

Hays (HAS LN) – CEO Cox and Co. agree it is now appropriate to commence a process to identify a successor. (Newswires)

Hikma Pharma. (HIK LN) – FY22 (USD): Revenue 2.5bln (exp. 2.49bln), adj. Operating Profit 596mln, Net Income 406mln (exp. 402mln), dividend 0.56/shr (exp. 0.53/shr). In FY generics business was impacted by intense competitive environment in the US. (Newswires)

Lloyds (LLOY LN) – Launching a share buyback programme of up to GBP 2bln, previously announced its intention to commence this on 22nd February. (Newswires)

Mercedes-Benz (MBG GY) - "Mercedes-Benz (China) & Beijing Benz announced to recall 20,740 imported and domestically manufactured Benz vehicles starting from Thursday due to safety concerns caused by loosened sunroof glass panels, China's top market regulator said." (Global Times)

Mediaset Espana (TL5 SM) – FY22 (EUR): Revenue 865mln (exp. 855mln), Net 178mln (exp. 170mln), EBITDA 211mln (exp. 212mln). Merger with Media for Europe (MFEB IM) is on track, extraordinary shareholder meeting scheduled for March 15th. (Newswires)

Mondi (MNDI LN) – FY22 (EUR): PBT 1.56bln (exp. 1.664bln), Revenue 8.9bln (exp. 8.83bln), dividend of 0.4833/shr. (Newswires)

Orpea (ORP FP) – Extension of the conciliation procedure, longstop date extended to 10th March. Specified that no further extension can be implemented. Envisages to submit a request to initiate an accelerated safeguard procedure in March, allowing for the implementation of agreement in principle on its financial restructuring as announced on 1st February. (Newswires)

Prudential (PRU LN) – Wadhwani appointed as CEO from April 1st, Fitzpatrick to step down. (Newswires)

Rolls-Royce (RR/ LN) - FY22 (GBP): Revenue 13.5bln (prev. 11.2bln Y/Y). Operating margin 837mln (prev. 513mln). PBT -1.5bln (prev. -294mln). CEO said the Co. has underperformed financially for many years. (Newswires)

Samhallsbyggnadsbolaget I Norden (SBBB SS) - Q4 2022 (SEK) - Rental income 1.85bln (prev. 1.695bln). Profit from property management 656mln (prev. 1.20bln). (Newswires) 

Safilo (SFLG IM) - Co. said its Longarone plant was no longer strategic and could be sold. (Newswires)

Serco (SRCO LN) – Wins CMS Rebid valued at USD 690mln. (Newswires)

Spectris (SXS LN) – FY22 (GBP): Sales 1.33bln (exp. 1.29bln), adj. Operating Profit 222mln (exp. 287mln), adj. EPS 1.59 (exp. 1.52), dividend 0.754/shr (exp. 0.75/shr). (Newswires)

WPP (WPP LN) – FY22 (GBP): Revenue 14.4bln (exp. 12.5bln), PBT 1.16bln (exp. 1.5bln), Operating Profit 1.35bln (exp. 1.47bln). (Newswires/WPP)

Fresenius Medical Care (FME GY) reiterated with Underweight at JPMorgan Chase

23 Feb 2023 - 07:54- Research Sheet- Source: Newsquawk