Additional European Equity News

abrdn (ABDN LN) - FY22 (GBP): Revenue 1.45bln (exp. 1.45bln), adj. EBIT 263mln (exp. 239mln), Net -549mln (exp. 193mln), EPS 0.105 (exp. 0.086). To sell abrdn Capital, the discretionary fund management business, to LGT; sale involves transfer of around 6.1bln of AUM and circa. 140 employees. (Newswires)

AXA (CS FP) - Sold of most of its shares in BMPS (BMPS IM) at EUR 2.33/shr. (Newswires)

Croda (CRDA LN) - FY22 (GBP): Sales 2.09bln (exp. 1.96bln) PBT 780mln (exp. 609mln). (Newswires)

Grifols (GRF SM) - FY23 guidance: signalling robust total and biopharma revenue growth of 8-10% and 10-12% respectively, as well as significant margin expansion in H2 with a 23-25% EBITDA margin excluding biotest. (Newswires)

HSBC (HSBA LN) - Co. is reportedly aiming to raise up to USD 1.5bln in a perpetual additional Tier 1 bond, via Reuters citing sources. (Newswires)

Intertek (ITRK LN) - FY22 (GBP): Revenue 3.19bln (exp. 3.189bln), EBIT 520mln (exp. 491mln), dividend 0.716/shr. In China, COVID related lockdown restrictions and revenue headwinds for March-June impacted. (Newswires)

Man Group (EMG LN) - FY22 (USD): AUM 143bln (exp. 146bln), EPS 0.458 (exp. 0.43), Net Inflows 3.1bn, +5.3% vs industry. (Newswires)

Ocado (OCDO LN) - FY22 (GBP): Revenue 2.52bln (exp. 2.56bln), PBT -500mln (exp. -413mln), EBITDA -74mln (exp. -50mln). Strong balance sheet provides ability to finance growth through mid-term, by which point expect to be cash flow positive. (Newswires)

Red Electrica (RED SM) - Q4 (EUR): Revenue 492mln (exp. 487mln), EBIT 173mln (exp. 207mln), EBITDA 308mln (exp. 316mln), Net 113mln (exp. 131mln). (Newswires)

St James Place (SJP LN) - FY22 (GBP): Funds under management 148.4bln, gross inflows 17bln. (Newswires)

Serco (SRP LN) - FY22 (GBP): Revenue 4.5bln (exp. 4.5bln), Operating Profit 217mln, adj. EPS 0.139 (exp. 0.139). Medium targets are unchanged. (Newswires)

Stellantis (STLAM IM/STLAP FP) - Purchasing 14% of shares of McEwen Copper for USD 155mln. (Newswires)

TotalEnergies (TTE FP) - French court could order the Co. to halt the development of an east African pipeline, as part of a landmark case based on legislation that makes big Cos liable for risks to the environment and human rights, via Reuters. (Newswires)

Travis Perkins (TPK LN) - FY22 (GBP): Revenue 4.99bln (exp. 5.06bln), Operating Profit 295mln, EPS 0.94 (exp. 100.8). Product cost inflation expected to moderate into 2023, expects to deliver another resilient trading performance ahead. (Newswires)

Unite Group (UTG LN) - FY22 (GBP): PBT 358mln (exp. 164mln), adj. Net Income 163mln (exp. 160mln), EPS 0.409 (exp. 0.408). (Newswires)

28 Feb 2023 - 07:20- EquitiesResearch Sheet- Source: Newsquawk