Additional European Equity News

Accor (AC FP) - Q3 (EUR): Revenue 1.29bln (prev. 1.15bln). Lifts FY23 guidance: EBITDA 955-985mln (prev. guided 930-970mln). (Newswires)

Air France (AIR FP) - Q3 (EUR): Revenue 8.7bln (exp. 8.8bln), Net Income 0.9bln (exp. 0.95bln), Operating Income 1.38bln (exp. 1.14bln). FY23 guidance unchanged. Definitive agreement for quasi-equity financing of EUR 1.3bln, potential upside to 1.5bln. (Newswires)

Confinimmo (COFB BB) - 9-month (EUR): Operating 207mln (prev. 193mln). FY Guidance: net result from core activities 6.95/shr (prev. guided 6.85/shr). (Newswires)

Edison (EDN IM) - 9-month (EUR): Revenue 14.1bln (prev. 22.8bln), Net 486mln (prev. 265mln), EBITDA 1.27bln (prev. 0.94bln). Revises end-December EBITDA growth forecasts to >1.6bln (prev. guided 1.6bln, prev. 1.1bln Y/Y). (Newswires)

Hexagon (HEXAB SS) - Q3 (EUR): Net 287mln (exp. 297mln), PBT 250mln (exp. 359mln), Sales 1.35bln (exp. 1.34bln), adj. EPS 0.1 (exp. 0.11). (Newswires)

IAG (IAG LN) - Q3 (EUR): Revenue 8.65bln (exp. 8.5bln), Operating 1.75bln (prev. 1.21bln Y/Y), Operating Margin 20.2% (prev. 16.6%). Overall customer bookings for Q4 are as expected. Expect 2023 to be a year of strong recovery in our margins, operating profit and balance sheet and towards pre-COVID-19 levels of capacity. CEO: currently, Q1 & Q2-2024 bookings are in-line with expectations. (Newswires)

Mapfre (MAP SM) - 9-month (EUR): Revenue 24.6bln (prev. 22.2bln), Net 470mln (prev. 488mln). (Newswires)

Metso (METSO FH) - Q3 (EUR): Sales 1.3bln (exp. 1.4bln), adj. EBITA 213mln (exp. 207mln), Orders 1.19bln (exp. 1.4bln), EPS 0.14 (exp. 0.16), EBIT 189mln (exp. 192mln). Expects market activity to remain at current levels. Lifts adj. EBITA margin target over the cycle. (Newswires)

MTU Aero (MTX GY) - 9-month (EUR): Revenue 3.7bln, adj. Net 438mln (exp. 436mln), EBIT -410mln. Figures affected by exceptional charges for the Geared Turbofan inspection program. Confirms adj. forecasts for 2023. (Newswires)

NatWest (NWG LN) - Q3 Interim (GBP): NII 2.68bln (exp. 2.83bln), Income 3.49bln (exp. 3.55bln), RoTE 14.7% (prev. 16.4% Q/Q), Total Assets 717bln (prev. 702mln Q/Q). Net impairment charge of 229mln. FY Guidance: NIM >3% (prev. guided 3.15%, exp. 2.95%). Findings from Phase 1 of Travers Smith review: "The report confirms that the exit decision was lawful and was made in accordance with the relevant bank policies and processes, but also identifies a number of shortcomings in how the decision was reached, how the bank communicated with Mr Farage and how it treated his confidential information." additionally "NatWest Group has accepted - and will implement - all of the recommendations made by Travers Smith.". In response to the report, the UK FCA says: report and information considered highlighted potential regulatory breaches and a number of areas for improvement; are reviewing how Co's & Coutts' governance systems and controls are working to identify and address any additional shortcomings. (Newswires/NatWest/FCA)

Peab (PEAB SS) - Q3 (SEK): Sales 14.7bln (exp. 15.3bln), EBIT 786mln (exp. 822mln), PBT 654mln (exp. 757mln). (Newswires)

Thule (THULE SS) - Q3 (SEK): Revenue 2.3bln (prev. 2.1bln). (Newswires)

Saint Gobain (SGO FP) - Q3 (EUR): Revenue 11.6bln (exp. 11.6bln). Affirms double-digit growth target for 3rd consecutive year. (Newswires)

Santander (SAN SM) - Elected to exercise a put option to sell its 15% stake in DoValue Espana, via El Confidencial. (Newswires)

Svenska Cellulosa SCA AB (SCAB SS) - Q3 (SEK): Sales 4.3bln (exp. 4.5bln), EBITDA 1.4bln (exp. 1.5bln). (Newswires)

UniCredit (UCG IM) - Obtained authorisation from the ECB for its up to EUR 2.5bln buyback. (Newswires)

URW (URW NA) - 9-month (EUR): 2.3bln (prev. 2.2bln). Lifts FY23 AREPS guidance to at least 9.50 (prev. guided 9.30-9.50). (Newswires)

Valeo (FR FP) - Q3 (EUR): Revenue 5.22bln (exp. 5.3bln. Confirms FY23 guidance. (Newswires)

Wendel (MF FP) - Q3 (EUR): Revenue 1.72bln (prev. 1.74bln). Confirms FY23 revenue guidance. (Newswires)

Sabadell (SAB SM) upgraded to Overweight from Equalweight at Barclays

27 Oct 2023 - 07:25- Research Sheet- Source: Newsquawk