Additional European Equity News

Bankinter (BKT SM) – FY (EUR): Net 845mln (exp. 858mln, Operating Income 2.66bln (exp. 1.47bln), PBT 1.23bln (exp. 1.44bln), CET1 12.3% (exp. 12.57%), Net Interest Income 2.21bln (exp. 2.46bln). (Newswires)

Britvic (BVIC LN) – Q1 (GBP): Revenue 443mln (exp. 436mln). Positive start to the year, strong Christmas trading. (Newswires)

Brunello Cucinelli (BCU IM) – Levi Strauss (LEVI) is suing the Co., accusing it of infringing on a trademarked pocket tab. (Newswires)

Fevertree (FEVR LN) – Trading update (GBP): Delivered FY group revenue growth of 6% Y/Y to around 364mln. Co. expects to deliver good growth in 2024 and reiterates guidance of 10% revenue growth for Co. brands. Co. remains confident of delivering a significant improvement in gross margin in 2024. (Newswires)

Foxtons (FOXT LN) – FY (GBP): Revenue 147mln (exp. 144.4mln). Co. says 2023 earnings are ahead of expectations, and letting is expected to remain resilient in 2024. Co. is well positioned for its medium-term growth ambition. (Newswires) 

Haleon (HLN LN) – Co. is to sell Chapstick to Suave Brands, pre-tax proceeds of circa. USD 430mln. Cash proceeds from the sale to be used to pay down debt. (Newswires)

IG Group (IGG LN) – H1 (GBP): Revenue 473mln (exp. 501mln), Net 132mln (exp. 171mln), PBT 176mln (exp. 239mln). Expect to generate a similar amount of interest income in H2, higher financial income in H2. (Newswires)

ICP (ICP LN) - Q3 Trading Update: AUM USD 86.3bln, +13% Y/Y. (Newswires)

Rio Tinto (RIO LN) – Four team members from the Diavik diamond mine have died in a plane crash in Canada. (Newswires)

RS Group (RS1 LN) – Trading Statement: LFL -10% Y/Y, Q3 trading was challenging. (Newswires)

Sandvik (SAND SS) - Q4 (SEK): Adj. EBIT 5.74bln (exp. 5.81bln), Revenue 31.8bln (exp. 30bln). To cut around 1.1k in restructuring program, sees costs at SEK 2.4bln. Will generate annual savings at SEK 1.2bln. CEO: have seen some delays on larger mining equipment, re. the Red Sea. Seen some slowdown from smaller mining firms, primarily due to higher interest rates. (Newswires) 

Societe Generale (GLE FP) – Co. is reportedly considering the sale of its digital bank for professional clients, via Les Echos citing sources. (Les Echos)

St James Place (SJP LN) – 2023 (GBP): Gross Inflows 15.39bln, Net 5.12bln, Closing Funds Under Management 168bln. (Newswires)

Wizz Air (WIZZ LN) – Trading Update: Quarterly load factor 87.6% (prev. 87.3%). Trading at start of Q4 has been positive. Expect to operate flat capacity YoY in H1’25. Maintain expectations for FY24 Net Income. (Newswires)

25 Jan 2024 - 07:05- Research Sheet- Source: Newsquawk