Additional European Equity News

ADP (ADP FP) - 9M (EUR) - revenue 4.12bln vs. prev. Y/Y 3.38bln and affirms FY guidance. (Newswires)

Biomerieux SA (BIO FP) - Q3 Review: +7.1% organic sales growth, as expected. Confirms FY guidance. (Newswires)

Bureau Veritas (BVI FP) - Q3 (EUR): revenue 1.42bln vs. prev. Y/Y 1.46bln and reaffirms organic revenue target. (Newswires)

Casino (CO FP) - Q3 France (EUR): Sales -8.3%. Outlook: Cuts FY EBITDA. (Newswires)

Ceconomy (CEC GY) - Prelim. FY (EUR): Sales 22.2bln (exp. 22bln), adj.. EBIT 240mln (prev. 208mln). Q4 Prelim: Sales 5.07bln (exp. 5.05bln). Will positioned for mid-term EBIT target. (Newswires)

DS Smith (SMDS LN) - Trading continues in-line with expectations, well positioned for remainder of FY. (Newswires)

Eiffage (FGR FP) - has entered into an agreement to purchase 9.7mln shares (circa 1.8% of capital) in Getlink, increasing its stake to 20.55% but does not intend to make an offer for the Co. (Newswires)

Eutelsat (ETL FP) - Q1 (EUR): Revenue 274mln (exp. 260mln). (Newswires)

Eni (ENI IM) - Agreement for three years to import LNG from Indonesia. (Newswires)

Flight Names - Heathrow: revised 2023 traffic forecasts to 79.3mln passengers, expected 2024 to be in-line with 2019. (Newswires)

GSK (GSK LN) - NMPA approves Vocabria+Rekambys within China. (Newswires)

Iberdrola (IBE SM) - 9-month (EUR): Revenue 37bln (prev. 38bln), Net 3.64bln, +17% Y/Y; adj. EBITDA 10.8bln, +13% Y/Y. Lifts FY guidance to double-digit net profit growth. (Newswires)

Intesa Sanpaolo (ISP IM) - Announced it would increase non-distributable reserves by EUR 2.07bln, instead of paying a one-off windfall tax. Utilising the opt-out clause. (Newswires)

Kerry Group (KYGA ID) - Q3: Volumes +0.1%, pricing reflected a deflationary environment. FY earnings guidance expected to be at low-end of prev. stated 1-5% range. (Newswires)

Kesko (KESKOB FH) - Q3 (EUR): Sales 2.95bln (exp. 2.98bln), adj. EBIT 208mln (exp. 207mln), adj. PBT 188mln (exp. 178mln), EPS 0.37. Operating environment expected to remain challenging in 2024. (Newswires)

Kion Group (KGX LN) - 9-month (EUR): Revenue 8.4bln (prev. 8.2bln), adj. EBIT 571mln (prev. 210mln). FY23 guidance: revenue and adj. EBIT in supply chain solutions cut; group revenue raised for adj. EBIT and FCF. (Newswires)

Mediobanca (MB IM) - Benetton is leaning towards supporting the boards outgoing candidates, via Corriere della Sera. (Newswires)

Neste (NESTE FH) - Q3 (EUR): Revenue 5.99bln (exp. 5.7bln), EBITDA 1.05bln (exp. 0.93bln), adj. EPS 0.88 (exp. 0.79), Oil Products Refining Margin USD 26.9/bbl (prev. 28.0). Expect volatility in oil and products to remain high. (Newswires)

NovoZymes (NZYMB DC) - Q3 (DKK): Sales 4.5bln (exp. 4.4bln), Net 0.9bln (exp. 0.7bln), EBIT 1.0bln (exp. 0.99bln). Newswires)

Orkla (ORK NO) - Q3 (NOK): Revenue 16.8bln (exp. 16.4bln), adj. EBIT 1.8bln (exp. 1.8bln), PBT 2bln (exp. 1.9bln), adj. EPS 1.6 (exp. 1.5). OFI partnership with Rhone, transaction expected to conclude in Q1-2024, implies an enterprise value of NOK 15.5bln. (Newswires)

Repsol (REP SM) - Q3 (EUR) EBITDA 2.89bln (exp. 2.7bln), Net 1.35bln (exp. 1.03bln), EPS 1.07 (exp. 0.86). Gross dividend of 0.40/shr, +14 MM. (Newswires)

Restaurant Group (RTN LN) - Statement re. possible competing offer: confirms it has received a request within the last week from Wheel Topco Limited (" Wheel Topco "), the owner of PizzaExpress Group Limited, for diligence information on the Company. No written or verbal indicative proposal relating to a possible offer, including as to terms, price or form of consideration, has been made to the Board of TRG by Wheel Topco. (Newswires)

Roche (ROG SW) - Collaborates with IBEX and AWS to accelerate adoption of AI-enabled digital pathology solutions to help in improving cancer diagnoses. (Newswires)

Saab (SAABB SS) - Q3 (SEK): Orders 14.9bln (exp. 15.5bln), Operating Income 859mln, EBITTDA 1.4bln (exp. 2.02bln). FY23 guidance: organic sales 19-23% (prev. guided 16-20%). (Newswires)

Schneider Electric (SU FP) - Q3 (EUR): Revenue 8.79bln (exp. 8.9bln), FX Impact -639mln (exp. -582mln). FY23 guidance confirmed. (Newswires)

Sodexo (SW FP) - FY (EUR): Revenue 24bln (exp. 24bln), Operating Profit 1.34bln (exp. 1.32bln), Operating Margin 5.6% (exp. 5.6%). Proposes a dividend of 3.10/shr. FY23 results above guidance, Pluxee spin-off expected early-2024. (Newswires)

Siemens Energy (ENR GY) - Co. is seeking up to EUR 15bln of state guarantees, according to Wiwo. Subsequently echoed by the German State, via Reuters citing government sources. (Wiwo)

Stellantis (STLAM IM/STLAP FP) - CEO says Leapmotor cars will be visible within Europe within two years. Will let it drive growth in China. No plan to raise Leap stake currently. Might adj. business plan in the near-future following the deal. (Newswires)

Telecom Italia (TIT IM) - Vivendi (VIV FP)is reportedly prepared to sell its 23.75% stake in the Co. at 0.50/shr, the same price offered by KKR two ears again, via Il Sole 24 citing sources. (Il Sole 24)

TotalEnergies (TTE FP) - Q3 (USD): adj. EBITDA 13.1bln (exp. 12.6bln), adj. Net 6.5bln (exp. 5.9bln), EPS 2.63 (exp. 2.55), dividend 0.74/shr. Executing a USD 9bln share buyback in 2023. Confirms FY23 Net Investment guidance of 16-17bln. Oil prices remain buoyant at start of Q4, gas prices remain very reactive to production disruption. Elsewhere, Co. has commissioned its LNG floating terminal at Le Havre. (Newswires)

Trelleborg AB (TRELB SS) - Q3 (SEK): Sales 8.5bln (exp. 8.56bln), adj. EPS 3.84 (exp. 3.76). Sees Q4 demand in-line Q/Q. (Newswires)

Unilever (ULVR LN) - Q3 (EUR): Sales 15.2bn (exp. 15.1bln), Underlying Sales growth +5.2% (exp. 5.25%), interim dividend maintained at 0.4268/shr. Fernando Fernandez is the new CFO. FY23 guidance unchanged. Entered an agreement to sell Dollar Shave Club, expected before end-2023. (Newswires)

Valneva (VLA FP) - Requested that the EMA authorise its Chikungunya vaccine. (Newswires)

WPP (WPP LN) - Q3 Update (GBP): Revenue 2.84bln (exp. 3.6bln). Cuts FY Outlook for the second consecutive quarter: expects LFL growth of 0.5-1.0% (prev. guided 1.5-3.0%). (Newswires)

UCB (UCB BB) downgraded to hold from buy at Jefferies  

26 Oct 2023 - 07:20- Research Sheet- Source: Newsquawk