Additional European Equity News
Atos (ATO FP) – Implementation of a buyback programme, limited to 300k shares. (Newswires)
Cellnex Telecom (CLNX SM) - CO. has picked Patuano as its top executive, according to Bloomberg. (Newswires)
Deutsche Bank (DBK GY) - Co. has agreed to buy Numis (NUM LN) for GBP 3.50/shr (vs GBP 2.04 close on Thursday). (Newswires) Numis had a market cap of GBP 225mln as of Thursday.
Electrolux (ELUXB SS) – Q1 (SEK): Revenue 32.7bln (exp. 29.9bln), Net -588mln (exp. -768mln), EPS -2.18 (exp -1.42). (Newswires)
Eni (ENI IM) - Q1 (EUR): Adj. net income 2.91bln (exp. 2.3bln), adj. operating profit 4.64bln (exp. 3.6bln). Co. cuts FY operating profit view to 12bln from 13bln (exp. 14.64bln) (Newswires)
Erste Group (EBS AV) - Q1 2023 (EUR): Revenue 2.50bln (exp. 2.42bln). Net 94mln (exp. 503mln0. Co. raises its FY NII group to +15% (prev. +10%). (Newswires)
Hexagon (HEXAB SS) – Q1 (EUR): Sales 1.28bln (exp. 1.26bln), adj. EPS 0.104 (exp. 0.103), PBT 344mln (exp. 331mln), Net Income 282mln (exp. 271mln). (Newswires)
Hikma Pharma. (HIK LN) – Good start to the year, stronger thane expected in Generics business as such upgrading FY guidance for Generics. Will pay a final dividend of USD 0.37/shr. (Newswires)
Holmen (HOLMB SS) - Q1 2023 (SEK): Revenue 6.22bln (exp. 5.8bln), Adj. EBIT 1.74bln (exp. 1.5bln). (Newswires)
Glencore (GLEN LN) - Canada’s main opposition party called for the government to block Glencore's proposed takeover of Teck Resources (TECK), according to Bloomberg. (Newswires)
Konecranes (KCR FH) – Q1 (EUR): Orders 1.28bln (exp. 0.97bln), Sales 899mln (exp. 794mln), EBIT 85mln, Net 52mln, EPS 0.66. (Newswires)
Kingspan (KGP LN) – Q1 (EUR): Sales approached 2bln, +4% YY. Americas overall strong, western Europe solid, CEE remained tough again. Proposes to delist from the LSE, subject to shareholder approval. Current share trading negligible as a percentage of the total trading. (Newswires)
NatWest Group (NWG LN) - Q1 2023 (GBP): Pretax operating 1.82bln (exp. 1.55bln). Net Income 1.28bln (exp. 1.02bln). NIM 2.90bln (exp. 2.86bln). (Newswires)
Neste (NESTE FH) – Q1 (EUR): Revenue 5.3bln (exp. 5.8bln), EBITDA 830mln (exp. 782mln), adj. EPS 0.72 (exp. 0.68). Strong start to 2023. (Newswires)
Pearson (PSON LN) – Q1 Update: Growth: Sales +6%, Total +2%, Total ex-OPM/Review 6%. Remain on track to achieve our 2023 guidance. Intend to commence a buyback to repurchase GBP 300mln shares in H2. (Newswires)
Prudential (PRU LN) – Q1 Update (USD): New Business Profit 743mln, +30%; APE sales 1.56bln, +35%. Business momentum has continued into Q2, particularly in Hong Kong. (Newswires)
ProsiebenSat.1 (PSM GY) – Reached an agreement with Nucom co-shareholder General Atlantic to acquire its shares in Jochen Schweizer MyDays. (Newswires)
Sopra Steria (SOP FP) – Q1 (EUR): Revenue 1.4bln. Confirms FY targets. (Newswires)
Saint-Gobain (SGO FP) - Q1 2023 (EUR): Revenue 12.4bln (exp. 12.3bln). Co. has affirmed its FY23 operating guidance. Like-for-like sales progressed by 4.7%, with all segments reporting growth. Prices were up by 10.2% over the quarter, owing to price increases implemented last year and certain additional measures taken locally at the start of 2023. (Saint-Gobain IR)
SBB (SBB SS) – Q1 (SEK): Net -3.89bln (exp. 0.27bln), PBT -3.95bln (exp. 0.65bln). “The demand for our community service properties and rent regulated residentials has never been higher than now.”. (Newswires)
Smurfit Kappa (SKG LN) - Q1 2023 (EUR): Revenue 3.0bln (prev. 3.0bln Y/Y). EBITDA 579mln (prev. 514mln). EBITD margin 19.3% (prev. 17.0%). (Newswires)
Telecom Italia (TIT IM) - BDL, which holds a 2.5% stake in the Co., as deemed the two non-binding offers for TIM as insufficient, according to Reuters sources. (Newswires)
Tui (TUI LN) - S&P raises rating one notch to "B" from "B-"; outlook positive. (Newswires)
Umicore (UMI BB) - Co. provided a trading update: "Umicore started the year in line with expectations despite downward price pressure on key metals manifesting itself over the quarter." (Umicore)
Wendel (MF FP) - Q1 2023 (EUR): Revenue 2.18bln (prev. 1.98bln). Co. has confirmed its 2023 outook. (Newswires)
Yara (YAR NO) – Q1 (USD): Revenue 4.16bln (exp. 4.5bln), Operating Income 199mln (exp. 604mln), Net 104mln (exp. 424mln), adj. EBITDA 487mln (exp. 858mln). (Newswires)
Subsea7 (SUBC NO) upgraded to Buy from Neutral at SpareBank