Additional European Equity News

Akzo Nobel (AKZA NA) – Q2 (EUR): Revenue 2.78bln (exp. 2.72bln). Outlook: Expects to deliver 2024 Adj. EBITDA towards the lower end of its FY guidance range of 1.5-1.6bln. (Newswires)

Alfa Laval (ALFA SS) – Q2 (SEK): Sales 17.53bln (exp. 17.31bln), Adj. EBITA 2.93bln (exp. 2.7bln). Expects demand in Q3 to be somewhat lower level than in Q2. Market conditions are ex. To remain on a high level during Q3. (Newswires)

Beazley (BEZ LN) – Update following IT outage: Confirms no change to current guidance. (Newswires)

Compass (CPG LN) – Trading Statement: Organic Revenue +10.3% in Q3’24. Expects 15% Adj. Op. Profit growth for FY24. (Newswires)

Eni (ENI IM) – Signs temporary exclusive agreement with KKR for a minority stake in EniLive. Agreement to sell 20-25% stake in EniLive, on basis of total valuation of unit in the range of EUR 11.5-12.5bln. Strong interest by instiutational financial investors could lead to the sale of further 10% stake in EniLive. (Newswires)

Enagas (ENG SM) – H1 (EUR): Revenue 442.5mln (prev. 450.4mln Y/Y), EBITDA 385.7mln prev. 372mln Y/Y). On track to meet EBITDA annual target. Expects to achieve its targets in high end of EBITDA range, between 750-760mln. (Newswires)

Eurofins (ERF FP) – Muddy Waters Research releases a new piece on Eurofins questioning the 2023 reported “excess cash”. Click here for the full piece. (Muddy Waters)

Ferrovial (FER SM) – UK’s Labour government has reportedly signalled open-mindedness regarding a Heathrow expansion, provided that it meets various tests. (FT)

Thales (HO FP) – Sales 9.49bln (exp. 9.52bln), EBIT 1.1bln (exp. 1.09bln). FY outlook: EBIT margin between 11.7-11.8% (prev. guided 11.7-12%). (Newswires)

Randstad (RAND NA) – Q2 (EUR): EBITA 181mln (prev. 271mln), Net Income 78mln (prev. 137mln), Revenue 6.08bln (prev. 6.45bln). Q3 gross margin exp. to be modestly higher sequentially. Op. expenses are exp. to be slightly lower sequentially. (Newswires)

Kesko (KESKOB FH) – Q2 (EUR): Net Sales 3.09bln (exp. 3.07bln), Op. Profit 178.3mln (exp. 181.4mln). Outlook FY24: Op. Profit 620-680mln (prev. guided 620-700mln). In building and tech trade, the market is exp. to continue to decline in 2024. (Newswires)

Nordnet (SAVE SS) – Q2 (SEK): Adj. Op Profit 904mln (exp. 870mln), EPS 2.86 (exp. 2.76). (Newswires)

Novo Nordisk (NOVOB DC) - Co. has secured land and planning permissions for what might be its next major factory it in Demark, according to Bloomberg. (Bloomberg)

Pearson (PSON LN) – Has been awarded contract to deliver new online UK Government learning experience platform. (Newswires)

TietoEvry (TIETO FH) – Q2 (EUR): EBIT 47.8mln (exp. 55mln), Revenue 715mln (exp. 714.9mln). FY24 outlook confirmed. (Newswires)

United Utilities (UU/ LN) – 4-star EPA status confirmed. (Newswires)

UPM-Kymmene (UPM FH) – Q2 (EUR): Adj. EBITDA 359mln (exp. 369.1mln), Adj. EBIT 182mln (exp. 212.1mln). In H2’24, comparable EBIT is exp. to higher than in H1’24. (Newswires)

Banca Generali (BGN IM) upgraded to Overweight from Equal Weight at Barclays

Fresenius SE (FRE GY) upgraded to Overweight from Equal Weight at Morgan Stanley FRE GY shares +2.2% in pre-market trade

23 Jul 2024 - 06:57- EquitiesExclusive- Source: Newsquawk