Additional European Equity News

Aviva (AV/ LN) - FY (GBP): Adj. Op Profit 1.77bln (exp. 1.71bln). Combines Op. Ratio 96.3% (exp. 94.8%). Adj. Op Income 1.77bln (exp. 1.71bln), IFRS Profit 705mln (prev. 1.10bln Y/Y). Solvency II RoE 13.6% (prev. 14.7% Y/Y). Is confident on the outlook for 2025 and beyond. (Newswires)

Beiersdorf (BEI GY) - FY (EUR): Sales 9.9bln, +6.5% Y/Y. EBIT Margin slightly above previous year's level. Outlook 2025: Organic Sales growth range 4-6%. (Newswires) 

Drax (DRX LN) - FY24 (GBP): Adj. EPS 1.28 (exp. 1.29), Adj. EBITDA 1.06bln (exp. 1.04bln). FY25: Expects adj. EBITDA in line with analyst expectations. (Newswires)  

Hensoldt (HAG GY) - FY (EUR): Order Intake 2.9bln (prev. 2.09bln), Sales 2.2bln (prev. 1.85bln Y/Y), Adj. EBITDA 405mln (prev. 329mln Y/Y). Proposes dividend of EUR 0.50/shr (prev. 0.40 Y/Y). 2025: Expects sales of EUR 2.5-2.6bln. (Newswires) 

Haleon (HLN LN) - FY24 (GBP): Adj. Op Income 2.50bln (exp. 2.5bln), Revenue 11.2bln (exp. 11.2bln). (Newswires) 

Hiscox (HSX LN) - FY (USD): pre-tax profit 685.4mln (prev. 625.9mln), insurance contract written premium 4.77bln (prev. 4.60bln), ROE 19.8% (prev. 21.8%), combined ratio (discounted) 84.7% (prev. 85.5%). (Newswires)

Iberdrola (IBE SM) - FY (EUR): revenue 44.74bln (exp. 47.57bln), EBITDA 16.85bln (exp. 16.17bln), ROE 11.95%, EBIT 9.73bln (exp. 9.97bln) net profit 5.61bln (exp. 5.49), final dividend of 0.404/shr; FY25 net profit expected to be mid-high single digit growth (Newswires)

LSEG (LSEG LN) - FY (GBP): EPS 1.288, Pretax Profit 1.25bln. (Newswires)  

MFE (MFEB IM) - FY (EUR): Net Profit 251mln, Revenue 2.95bln. (Newswires) 

Man (EMG LN) - FY (USD): Net Outflows 3.3bln (exp. 3.3bln), Adj. EPS 0.321 (exp. 0.29), AuM 168.6bln; intention to repurchase up to USD 100mln of shares. (Newswires) 

Metro Bank (MTRO LN) - FY24 (GBP): Underlying PBT -14mln (prev. -16.9mln Y/Y). Revenue 503mln (prev. 546mln Y/Y). (Newswires) 

Prysmian (PRY IM) - CEO says the Co. is still focused on M&A opportunities, especially in the US (Newswires)

Rolls-Royce (RR/ LN) - FY24 (GBP): Adj. Revenue 17.85bln (exp. 17.42bln). Adj. Operating Profit 2.46bln (exp. 2.28bln). Co. launches GBP 1bln share buyback immediately. Sees 2025 adj. operating profit between GBP 2.7-2.9bln. (Newswires)

SES SA (SESG FP) - Board says the announcement by Appaloosa, who filed a proxy proposal, has been acknowledged and they will thoroughly evaluate it. The proposal called for a simplified share capital structure and implementation of returns to shareholders. (Newswires)

Ocado (OCDO LN) - FY24 (GBP): Retail Revenue 2.69bln, +13.9% Y/Y. On target to turn cash flow positive during FY26. (Newswires) 

St James's Place (STJ LN) - FY (GBP): EPS 0.815 (exp. 0.77). Reports record funds under management of 223.6mln. Succession planning is underway. (Newswires) 

Serco (SRP LN) - FY24 (GBP): Adj. EPS 16.7p (exp. 16p), Revenue 4.79bln (exp. 4.79bln). (Newswires) 

Taylor Wimpey (TW/ LN) - FY (GBP): revenue 3.40bln (exp. 3.38bln), basic EPS 0.062, operating margin 12.2%, operating profit 416.2mln, net income 219.6mln (exp. 289mln), pre-tax profit 320.3mln (exp. 401mln); expect to deliver FY25 UK completions in 10,400-10,800 range ex-JVs, expect to deliver FY group performance in line with market expectations. (Newswires)

WPP (WPP LN) - FY24 (GBP): LFL Revenue 14.7bln, +2.3% Y/Y; LFL Adj. Revenue 11.4bln, -1% Y/Y (exp -0.4% Y/Y). Notes Q4 was impacted by weaker client discretionary spend; to invest annual AI investment from 250-300mln. Guides initial FY25 LFL Adj. Revenue -2% to flat (exp. +2%). (Newswires) 

Wood Group (WG/ LN) - Wood appoints Iain Torrens as interim CFO. (Newswires) 

Unilever (ULVR LN) - Ben & Jerry’s founders have discussed the possibility of buying back the brand from Unilever, according to BBG. They are considering partnering with socially minded investors for the potential deal.

27 Feb 2025 - 07:05- EquitiesEU Research- Source: Newsquawk