Additional European Equity News

Ageas (AGS BB) – FY (EUR): Operating Result 1.2bln, Net 0.95bln (exp. 1.1bln), Dividend 3.25/shr (exp. 3.21/shr). (Newswires)

Alcon (ALC SW) – Q4 (USD): Sales 2.3bln (exp. 2.3bln), EPS 0.70 (exp. 0.67). FY24 Guidance: Sales 9.9-10.1bln (exp. 10.6bln). (Newswires)

Allfunds Group (ALLFG NA) – Brookfield and Euroclear are said to be in talks to buy Allfunds, according to sources via Expansión. “Six, CVC and Advent International have also shown interest in acquiring the Amsterdam-listed Spanish fund distribution platform”. (Expansión)

Amadeus (AMS SM) – Q4 (EUR): Adj. Net 248.1mln (exp. 232mln, prev. 180.5mln Y/Y), EBITDA 469.4mln (exp. 476mln, prev. 398.3mln Y/Y), Revenue 1.35bln (exp. 1.36bln, prev. 1.17bln Y/Y). Guides initial FY24 Revenue +11-14.5%. (Newswires)

ASM International (ASM NA) – CEO says extent of normalisation of China sales uncertain. (Newswires)

Aston Martin (AML LN) – FY (GBP): Revenue 1.63bln (exp. 1.62bln), adj. EBITDA 305mln (exp. 290mln), adj. EBIT -79mln (exp. -82mln), PBT -239mln (exp. -193mln). Near and medium-term guidance maintained. (Newswires)

Atos (ATO FP) – FY (EUR): Revenue 10.69bln (exp. 10.89bln). Confirms FY23 Revenue & Operating results are in-line with guidance. Discussions with EPEI on a potential sale of tech foundations have concluded with no deal reached, proposed new deal terms and pricing could not be mutually agreed upon with no indemnification by either side. Continues to consider strategic options. (Newswires)

BNP Paribas (BNP FP) - Confirms board has decided to increase the szie of the raise by EUR 100mln to EUR 900mln. (Newswires) 

Casino (CO FP) – FY (EUR): Sales 8.96bln (prev. 9.4bln), EBITDA 765mln (prev. 978mln), Net -5.66bln (prev. -0.3bln). Not publishing a 2024 outlook. (Newswires)

Derwent London (DLN LN) – FY (GBP): Revenue 212mln (exp. 210mln), PBT -475mln (exp. 120mln), Net 114mln (exp. 120mln), Dividend 0.79/shr (exp. 0.79/shr). (Newswires)

Drax (DRX LN) – Secures agreements to provide 240MW of capacity for the refurbishment of the Crucachan power station. (Newswires)

EDP Renovais (EDPR PL) – FY23 (EUR): Revenue 2.2bln (exp. 2.4bln), Pretax Profit 561mln (exp. 860mln), EBITDA 1.8bln (exp. 0.89bln). Sees script dividend to be subject to GSM approval on April 4. (Newswires)

NatWest Group (NWG LN) – UK is said to have opened talks with brokers to help sell the government’s shares in NatWest Group to retail investors, according to Bloomberg sources. Hargreaves Lansdown (HL/ LN) and AJ Bell among the brokers said to be in talks. (Bloomberg)

Reckitt (RKT LN) - Q4 (GBP): LFL Sales -1.2% (exp. 1.75%), FY LFL Sales +3.5% (exp. 4.15%), Revenue 3.56bln (exp. 3.6bln). Sees 2024 capital expenditure to be 3-3.5% of Net Revenue. Sees 2024 adj. operating profit to grow ahead of net revenue growth. "small impact" due to the Red Sea attacks related to ocean freight rates. (Newswires)

Stellantis (STLAM IM/STLAP FP) – Launch of first EUR 1bln tranche of the EUR 3bln buyback, from February 28th-June 5th. (Newswires)

St. James’s Place (STJ LN) – FY23 (GBP): Adj. EPS 0.705 (exp. 0.71), Net Income -9.9mln. Annual FY dividend of 18p/shr declared for FY24/25/26. (Newswires)

Societe Generale (GLE FP) – In talks to sell its non-core equipment finance business to BPCE, according to Bloomberg Law. (Bloomberg Law)

Taylor Wimpey (TW/ LN) – FY (GBP): Revenue 3.5bln (exp. 3.49bln), Net 349mln (exp. 338mln), EPS 0.09 (exp. 0.09), Operating 470mln. Current trading is showing some signs of improvements, reduced mortgage rates positively impacting affordability. Well-positioned in an attractive market.

Vinci (DG FP) – Acquires Denver’s Northwest Parkwawy in the US from DIF Capital. No terms disclosed. (Newswires)

Verallia (VRLA FP) - Acquires Vidarala's Glass unit in Italy for EV of EUR 230mln. (Newswires) 

28 Feb 2024 - 07:10- EquitiesResearch Sheet- Source: Newsquawk