Additional European Equity News

Accor (AC FP) – H1 (EUR): Revenue 2.4bln (exp. 2.34bln), EBITDA 447mln (exp. 458mlln), Net Profit 248mln (exp. 243mln). Raises FY23 guidance. (Newswires)

Aixtron (AIXA GY) – Q2 (EUR): Revenue 173mln (exp. 140mln), Order Intake 177mln (prev. 153mln), EBIT 44mln (prev. 31mln). (Newswires)

Airtel Africa (AAF LN) – Q1 (USD): Revenue 1.37bln (exp. 1.38bln), EBITDA 682mln, adj. EPS 0.039. (Newswires)

Andritz (ANDR AV) – Q2 (EUR): Revenue 2.14bln (exp. 1.98bln), Orders 2.29bln, EBITDA 214mln. (Newswires)

Anglo American (AAL LN) – H1 (USD): Revenue 15.6bln (exp. 15.6bln), Dividend 0.55/shr, FCF -466mln, ROCE 18%. CFO to resign. On track to deliver FY production guidance. (Newswires)

AstraZeneca (AZN LN) - Enhertu demonstrated clinically meaningful progression-free survival and overall survival across multiple HER2-expressing advanced solid tumours in DESTINY-PanTumor02 Phase II trial. Separately, Soliris approved in the EU for children and adolescents with refractory generalised myasthenia gravis (gMG). (AstraZeneca)

Arcadis (ARCAD NA) – Q2 (EUR): Revenue 945mln (exp. 932mln), Net Income 38mln (exp. 59mln), EBITA 93mln (exp. 93mln). On track to achieve strategic targets. (Newswires)

Beazly (BEZ LN) – H1 (USD): Gross Premiums written 2.89bln (prev. 2.55bln), Growth guidance of mid-teens gross premium written. Confident of delivering growth guidance for year. (Newswires)

BT (BT/A LN) – Q1 (GBP): Revenue 5.16bln (exp. 5.1bln), adj. EBITDA 2.0bln, +5%; PBT 536mln, +11%. Reiterates FY24 guidance. (BT)

Casino (CO FP) – Q2 (EUR): Sales 5.5bln (exp. 8.2bln). H1: EBITDA 361mln (prev. 781mln), Net Sales 10.96bln (prev. 11.45bln), Net Profit -2.23bln (prev. 0.259bln). (Newswires)

Centrica (CAN LN) – H1 2023 (GBP): Adj. operating profit 2.08bln (prev. 1.3bln Y/Y). Revenue 16.5bln (prev. 10.3bln). Adj. EPS 0.258 (prev. 0.11). Co. gas extended its share buyback programme by GBP 450mln to GBP 1.0bln. (Newswires)

Cyber Names - US SEC adopts new rules for public companies to disclose cybersecurity breaches and risk management annually. Companies must report material cybersecurity incidents within four business days. The goal is to provide consistent and useful information for investors and benefit the markets. (Newswires)

Drax (DRX LN) – H1 2023 (GBP): Adj. EBITDA 453mln (prev. 225mln). Operating profit 392mln (prev. 207mln Y/Y). (Newswires)

EssilorLuxottica (EL FP) – Launches share buyback: to purchase up to 3.5mln shares, dependent on conditions. (Newswires)

Fugro (FUR NA) – H1 (EUR): EBIT Margin 8.9%, Net Income 71.7mln, Revenue 1.08bln (prev. 833mln), EBITDA 160.4mln (prev. 97.5mln), EBIT 90.3mln. (Newswires)

Frasers (FRAS LN) – FY (GBP): Revenue 5.56bln (exp. 5.1bln), Net Income 501mln (exp. 352mln), PBT 478mln (exp. 490mln). Met FY expectations. Delivered a strong performance across the group. (Newswires)

Grifols (GRF SM) – H1 2023 (EUR): Revenue 3.23bln (prev. 2.97bln Y/Y). Net -56.2mln (prev. +143.6mln Y/Y). Co. raises FY total revenue growth guidance to +10-12% (prev. +8-10%). (Newswires)

Iberdrola (IBE SM) – H1 2023 (EUR): Revenue 26.3bln (prev. 24.4bln Y/Y). EBITDA 7.56bln (prev. 6.44bln). Net 2.52bln (prev. 2.08bln). Co. raises its FY net guidance. (Newswires)

ITV (ITV LN) – H1 (GBP): Revenue 1.64bln (exp. 1.56bln), adj. EPS 0.023, Operating Profit 66mln. Too early to give a September forecast, signs are positive. Remain on track to attain all KPI. (Newswires)

Indivior (INDV LN) – Q2 (USD): Net Revenue 276mln (prev. 221mln), Net Income 39mln (prev. 48mln), Diluted EPS 0.27 (prev. 0.33). Forward Guidance. Sees FY23 Net Revenue 1.3bln (prev. 1.09bln). (Newswires)

JCDecaux (DEC FP) – H1 (EUR): Revenue 1.59bln (exp. 1.52bln), Net 38mln (prev. -12mln). All geographies grow positively in H1. (Newswires)

Kion Group (KGX GY) – Q2 (EUR): Net Income 72.8mln (exp. 87mln), Revenue 2.84bln (exp. 2.78bln), Adj. EBIT 192.3mln (exp. 186mln), FCF 123.9mln (exp. 70mln). (Newswires)

Neste (NESTE FH) – Q2 (EUR): Revenue 5.4bln (exp. 5.7bln), adj. EPS 0.63 (exp. 0.72), adj. EBITDA 784mln (exp. 866mln). (Newswires)

Nordex (NDX GY) – H1 (EUR): Sales 2.8bln (prev. 2.1bln). Mid-term guidance confirmed. (Newswires)

Ocado (OCDO LN) - Times notes that shares in the Co. were higher yesterday (+24%) amid speculation "that hedge funds that had bet against the company were scrambling to cover their short positions". In the pre-market, the Co. announced CEO Jensen is to retire. (Newswires)

Repsol (REP SM) - Q2 (EUR): EBITDA 1.69bln (exp. 2.09bln), Net Income 308mln (exp. 650mln), Net Profit 827mln (prev. 2.16bln). Buyback of up to 60mln shares, to commence on 27th July.(Newswires)

Safran (SAF FP) – H1 (EUR): Revenue 10.9bln (exp. 10.79bln), Operating Income 1.39bln, +95% YY. FY Guidance: Operating Income 3.1bln (exp. 2.8bln), Revenue 23bln (exp. 23.09bln), adj. FCF 2.7bln. (Newswires)

Sage Group (SGE LN) – Q3 trading update (GBP): Recurring revenue 543mln (prev. 493mln Y/Y). (Newswires)

Schneider Electric (SU FP) – H1 (EUR): Revenue 17.63bln (exp. 17.65bln), adj. EPS 3.64, +12%; adj. EBITA 3.17bln (exp. 3.18bln). FY23 guidance: Revenue Growth 11-13% (prev. 10-13%). (Newswires)

Schroders (SDR LN) – H1 (GBP): PBT 275mln (exp. 257mln), Operating Income 1.2bln (exp. 1.17bln), adj. EPS 0.168, Dividend 0.065. (Newswires)

Spie (SPIE FP) – H1 (EUR): EBIT 220mln, +16.1%, Net Income 73.2mln (prev. 72.5mln). Adj. Net Income 122.3mln, +15.1%. Forward Guidance, EBITA margin and Organic Revenue revised upwards. (Newswires)

St. James’ Place (SJT LN) – Trading update (GBP): underlying cash result 207.1mln (198.8mln Y/Y), IFRS profit after tax 161.7mln (prev. 208.2mln). Interim dividend of 15.83 pence per share (prev. 15.59 pence), representing 30% of prior full year dividend. (St. James’ Place)

Technip Energies (TE FP) – H1 (EUR): Revenue 2.83bln (prev. 3.27bln), adj. EBIT 207mln (prev. 204mln), Net Profit 125mln (prev. 131mln). FY23 guidance: Revenue 5.7-6.2bln (exp. 6.15bln). (Newswires)

UCB (UCB BB) – Forward guidance, FY adj. EPS EUR 3.4-3.8, Revenue 5.1-5.4bln. (Newswires)

UMG (UMG NA) - H1 (EUR): Revenue 5.15bln (exp. 5.03bln), adj. EBITDA 1.1bln (exp. 1.06bln). (Newswires)

Unibail-Rodamco-Westfield (URW NA) – Q2 2023 (EUR): Adj. EPS 5.28 (prev. 4.95 Y/Y)/ EBITDA 1.16bln (prev. 1.14bln). Net rental revenue 1.15bln (prev. 1.14bln). (Newswire)

Verbund (VER AV) – H1 2023 (EUR): Revenue 6.69bln (prev. 4.73bln). EBITDA 2.26bln (prev. 1.38bln Y/Y). Net 1.29bln (prev. 817.1mln). Co. narrows its FY23 EBTIDA and Net guidance. (Newswires)

Vivendi (VIV FP) – Co. is confident it can complete the Lagardere (MMB FP) deal by October this year. (Newswires)

Wacker Chemie (WCH GY) - Q2 2023 (EUR): Revenue 1.75bln (prev. 2.17bln). EBITDA 255.5mln (prev. 625.8lmn). EBITDA margin 14.6% (prev. 28.8%). (Newswires)

Wizz Air (WIZZ LN) – CAA is brining enforcement action, following significant concerns over airline not paying passengers what they are owed. Instructed Co. to make changes. (Newswires)

Rentokil (RTO LN) – H1 (GBP): Revenue 2.67bln (exp. 2.63bln), adj. EBITDA 602mln (exp. 589mln), Operating Profit 304mln, PBT 377mln (exp. 451mln). Interim dividend 0.0275/shr. Reiterate Operating Margin guidance. (Newswires)

ASM International (ASM NA) reiterated with Overweight at JP Morgan Chase

Beazley Group (BEZ LN) reiterated with Overweight at JP Morgan Chase

Deutsche Bank (DBK GY) reiterated with Overweight at JP Morgan Chase

Michelin (ML FP) reiterated with Overweight at JP Morgan Chase

MTU Aero Engines (MTX GY) upgraded to Neutral from Underperform at BNP Paribas

Thales (HO FP) reiterated with Overweight at JP Morgan Chase

Traton (8TRA GY) reiterated with Neutral at JP Morgan Chase

27 Jul 2023 - 07:27- Research Sheet- Source: Newsquawk