Additional European Equity News

Accor (AC FP) - H1 2022 (EUR): 1.73bln (prev. 824mln), EBITDA 205mln (prev. -120mln). Expects FY EBITDA to surpass 550mln. (Newswires)

ArcelorMittal (MT NA) - Q2 2022 (USD): EBITDA 5.2bln (exp. 3.6bln), Operating Income 4.5bln (prev. 4.1bln). Highlights potential downside risk to demand forecasts provided in Q1; longer-term steel outlook via fundamentals is positive. (Newswires)

Aveva (AVV/ LN) - Q1: Revenue declined in mid-single-digit rate YY. (Newswires)

BAE Systems (BAE LN) - H1 2022 (GBP): EBIT 1.1bln (prev. 1.02bln), Revenue 10.5bln (prev. 10bln). Trading in-line with expectations. Hogg to join as Chair-designate from November 1st. (Newswires)

Barclays (BARC LN) - Q2 2022 (GBP): CIB Revenue 4.03bln (exp. 3.7bln), NII 2.43bln (exp. 2.3bln), CET1 13.6% (exp. 14.2%). Expects higher costs during 2022. (Newswires)

BT (BT/A LN) - Q2 2022 (GBP): Revenue 5.13bln (exp. 5.09bln), adj. EBITDA 1.9bln (exp. 1.9bln), PBT 0.5bln (exp 0.62bln). Made a good start to FY22. (Newswires)

Bureau Veritas (BVI FP) - H1 2022 (EUR): Revenue 2.699bln (exp. 2.69bln), Operating Profit 410mln (prev. 378mln). FY22 guidance confirmed. Good overall traction on pricing. (Newswires)

Casino (CO FP) - Co. and Ardian have signed an agreement in view of a sale of GreenYellow, view of a sale of their majority stake with an enterprise value of EUR 1.4bln; disposal would amount to EUR 600mln of proceeds for Casino. (Newswires)

Clariant (CLN SW) - Q2 2022 (CHF): Revenue 1.3bln (exp. 1.22bln). Confirm FY guidance. (Newswires)

Diageo (DGE LN) - FY (GBP): Sales 15.5bln (exp. 14.8bln), Operating Profit 4.4bln (exp. 4.1bln). (Newswires)

Fresenius SE (FRE GY) - Q2 2022 (EUR): Revenue 10.02bln (exp. 9.6bln), Net Income 450mln (exp. 465mln). Now believes medium-term target is no longer achievable. (Newswires)

Foxtons (FOXT LN) - H1 2022 (GBP): Revenue 65mln, +3%; adj. Operating Profit 6.2mln, +13%. Anticipates adj. FY earnings to be at-least in-line with exp. (Newswires)

Grifols (GRF SM) - H1 2022 (EUR): Profit 143mln (prev. 266mln), Sales 2.8bln (prev. 2.5bln). Sale of Medkeeper assets. (Newswires)

Hammerson (HMSO LN) - H1 2022 (GBP): Profit 50mln, Net Debt 1.7bln (prev. 1.8bln). Interim cash dividend of 0.002/shr. Continuing with disposals programme, anticipate further GBP 300mln by end-2023. (Newswires)

ITV (ITV LN) - H1 2022 (GBP): Revenue 1.99bln (exp. 1.67bln), adj. EBITA 318mln (prev. 327mln). On track against all KPIs and targets announced earlier in the year. Interim dividend of 0.017/shr, committed to FY goal of a total 0.05/shr dividend. (Newswires)

Indivior (INDV LN) - H1 2022 (USD): Revenue 428mln, +12%. (Newswires)

JCDecaux (DEC FP) - H1 2022 (EUR): Revenue 1.47bln,  +36%; EBIT -17mln. (Newswires)

Kion Group (KGX GY) - H1 2022 (EUR): Revenue 5.5bln, +11%; Order Book 7.9bln, +19%; Net Income 159mln (prev. 291mln). Intends to issue FY guidance at a later point. (Newswires)

Mapfre (MAP SM) - H1 2022 (EUR): 14.8bln (prev. 14.1bln), Net 337mln (prev. 364mln). (Newswires)

Metro Bank (MTRO LN) - H1 2022 (GBP): Revenue 236mln, +31%; PBT -60mln (prev. -138mln). Hopkinson appointed CFO. (Newswires)

National Express (NEX LN) - H1 2022 (GBP):  Revenue 1.3bln, +34%. Continues to anticipate reinstating a FY dividend. (Newswires)

Relx (REL LN) - H1 2022 (GBP): Revenue 3.96bln (prev. 3.34bln). Interim dividend of 0.157/shr, +10%. Momentum remains strong into H2. (Newswires)

Repsol (REP SM) - Q2 2022 (EUR): EBITDA 3.9blln (prev. 1.6bln), Net Incoe 2.1bln, Net Debt 5bln (prev. 6.4bln). Buyback programme: to reduce share capital through redemption of 75mln shares. (Newswires)

Schroders (SDR LN) - H1 2022 (GBP): Operating Income 1.2bln, +3%; Profit 406mln, +2%. Interim dividend 0.37/shr. (Newswires)

Schneider Electric (SU FP) - H1 2022 (EUR): Revenue 16bln (exp. 15.7bln), adj. Net Income 1.8bln (exp. 1.5bln). FY22/24 targets and ambitions unchanged; upgrades FY22 outlook. (Newswires)

Shell (SHEL LN) - Q2 2022 (USD): adj. Earnings 11.47bln (exp. 11.2bln), Net Debt 46.4bln, EPS 1.54 (exp. 1.39). Q3 expectations: Refinery Utiilisation 90-98%. Announces a USD 6bln share buyback programme. Dividend for Q2 of USD 0.25/shr. (Newswires)

Solvay (SOLB BB) - Q2 2022 (EUR): Sales 3.48bln (exp. 3.17bln), EBITDA 864mln (exp. 719mln), EPS 4.51 (exp. 3.62). (Newswires)

Stellantis (STLA IM/FP) - H1 2022 (EUR): Revenue 88bln (exp. 83bln), Operating Income 12.4bln (exp. 9.4bln), Net Profit 8bln (exp. 6.8bln). CFO says they are ahead of Tesla (TSLA) in Europe in EV sales, close to Volkswagen (VOW3 GY). Does not see a significant volume drop under recessions scenario. Will look to pass increasing inflation costs to customers until feasible. Strong USD is broadly neutral on margins, assisted on operating profit. (Newswires)

Subsea 7 (SUBC NO) - Q2 2022 (USD): Revenue 1.25bln (prev. 1.2bln), adj. EBITDA 134mln (prev. 90mln), Order Intake 2.1bln. Reiterate FY guidance. (Newswires)

Smith & Nephew (SN/ LN) - H1 2022 (USD): Revenue 2.6bln, +3.5%: Operating Profit 242mln. FY revenue guidance maintained. Interim dividend 0.144, in-line with the prev. (Newswires)

Technip Energies (TE FP) - H1 2022 (EUR): Revenue 3.27bln (prev. 3.24bln), Net Profit 131mln (prev. 100mln), EBIT 204mln (prev. 204mln). (Newswires)

Telefonica (TEF SM) - Q2 2022 (EUR): Revenue 10.04bln (exp. 9.6bln), net 320mln vs. exp. 366mln and raises FY22 revenue target. (Newswires)

Traton (8TRA GY) - H1 2022 (EUR): Sales 18bln, +30%; Group Sales 137.3k vehicles, +9%. Confirms FY22 adj. operating guidance. (Newswires)

TotalEnergies (TTE FP) - Q2 2022 (USD): adj. Net Income 9.8bln (exp. 9.9bln), adj. EBITDA 18.7bln (exp. 18.3bln). Interim dividend EUR 0.69/shr (exp. 0.70/shr). Additional buybacks of up-to USD 2bln during Q3. (Newswires)

Wacher Chemie (WCH GY) - Q2 2022 (EUR): Revenue 2.17bln, +45% YY; EBITDA 626mln, +~50%. FY guidance increased. (Newswires)

28 Jul 2022 - 07:35- Research Sheet- Source: Newsquawk

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