Additional European Equity News

Casino (CO FP) - Q4 Net sales EUR 2.18bln, +0.5% LFL Y/Y but -1.6% total Y/Y. Convenience brands reported broadly stable LFL Q4 net sales. (Casino)

Drax (DRX LN) - FY 2025 (GBP): Adj. EBITDA 947mln (prev. 1.06bln Y/Y), Div/shr 29.00 (prev. 26 Y/Y). GBP 450mln three-year buyback extension commenced, supported by c. GBP 0.5bln working capital inflow from end of Renewables Obligation scheme in 2027. Targeting post 2027 Adj. EBITDA of £600-700m pa - Pellet Production, Biomass Generation and FlexGen. (Drax) 

Eni (ENI IM) - Q4 2025 (EUR): Adj. Net Income 1.2bln (exp. 991mln), Adj. Op. Profit 1.78bln (exp. 1.74bln), Adj. Revenue 7.2bln (prev. 6.9bln Y/Y). Guides initial FY25 Oil and Gas Production 1.84mln (prev. 1.80mln boepd Y/Y). (Eni) 

Ex-Dividends - Unilever (ULVR LN) and Ashmore Group (ASHM LN) will trade without entitlement to their latest dividend.

GSK (GSK LN) - Co. announced that Linerixibat was accepted for priority review in China for cholestatic pruritus in patients with primary biliary cholangitis, and in Japan, Bepirovirsen was accepted for regulatory review in Japan as a potential first-in-class treatment for chronic hepatitis B. (GSK)

Hikma Pharmaceuticals (HIK LN) - FY25 (USD): Revenue 3.35bln (prev. 3.13bln Y/Y), Profit 402mln (prev. 359mln Y/Y), sees group revenue growth between 2-4%, announces a share buyback of up to USD 250mln. CEO: “Strong momentum in our Branded and Hikma Rx businesses and growth in all our geographies enabled us to deliver Group revenue and profit growth in line with guidance, and resilient margins." Also, the CEO is to step down as Executive Chairman of the Board to focus solely on the CEO for the next two years. (Hikma Pharmaceuticals)

Leonardo (LDO IM) - Bloomberg reports that the UK is looking to announce a Leonardo helicopter contract in the coming few days. (Bloomberg) 

London Stock Exchange Group (LSEG LN) - FY 2025 (EUR): Total income 8.99bln (exp. 8.98bln), EBITDA 4.37bln (prev. 3.94bln Y/Y), EPS 420.6 (prev. 263.5 Y/Y) ; announces GBP 3bln share buyback. (LSEG) 

Ocado (OCDO LN) FY Update (GBP): Revenue 1.36bln, +12.1% Y/Y, adj. EBITDA 178mln (prev. 112mln). FY26 Guidance: technology solutions revenue of 500mln, EBITDA margin around 30%. (Ocado)

Puma (PUM GY) Q4 2025 (EUR): adj. Sales 1.56bln (exp. 1.47bln). FY26 outlook: adj. sales to decline in the low- to mid-single-digit percentage, EBIT between -50mln and -150mln. CEO: “2025 was a reset year”. (EQS)

Rolls Royce (RR/ LN) - 2025 (GBP): Revenue 20.05bln (prev. 17.84bln Y/Y), Op. Profit 3.46bln (prev. 2.46bln Y/Y), Basic EPS 29.55 (prev. 20.29 Y/Y). Announced GBP 7bln - 9bln multi-year share buyback across 2026-2028 following completion of the GBP 1bn share buyback in 2025. 2026 guidance of GBP 4.0bln-4.2bln underlying operating profit and GBP 3.6bln-3.8bln free cash flow. (Rolls Royce) 

Subsea 7 (SUBC NO) - Q4 (USD): Revenue 1.96bln (exp. 1.96bln), Adj. EBITDA 477mln (exp. 440.1mln). Outlook: 7-7.4bln (exp. 7.35bln). (Subsea 7)

Stellantis (STLAM IM / STLAP FP) - FY25 (EUR): Revenue 153.5bln (prev. 159.9bln Y/Y), Adj. EBIT -842mln (exp. -1.12bln), Net loss -22.3bln (prev. 5.52bln Y/Y), weak revenue mainly due to FX headwinds and H1'25 net pricing declines. Reaffirms FY26 guidance. (Stellantis)

WPP (WPP LN) - FY 2025 (GBP): Adj. Revenue 10.2bln (exp. 10.3bln), LFL -5.4% Y/Y (exp. -5.6% Y/Y). Guides initial FY6 Op. Margin 12-13% (exp. 13.2%). (WPP) 

26 Feb 2026 - 07:25- EquitiesEU Research- Source: Newsquawk