Additional European Equity News

AB InBev (ABI BB) - Q4 (USD): adj. Net 1.66bln (exp. 1.44bln), adj. EBITDA 4.88bln (exp. 4.78bln), adj. EPS 0.82 (exp. 0.71), Revenue 14.47bln (exp. 14.5bln). (Newswires)

ABN AMRO (ABN NA) – Co. and Buckaroo are to collaborate on payment services for retailers. (Emerce)

Andritz (ANDR AV) – FY23 (EUR): Net 217.3mln (prev. 183.8mln Y/Y), EBITA 277.4mln (prev. 268.4mln Y/Y), Revenue 2.45bln (prev. 2.43bln Y/Y). (Newswires)

Atos (ATO FP) – Nominates three new directors to further strengthen its BoD during the Co’s transformation period. (Newswires)

Ackermans & van Haaren (ACKB BB) – FY23 (EUR): Net 507.1mln (prev. 810.6mln Y/Y), Revenue 5.22bln (prev. 4.40bln Y/Y). (Newswires)

Aixtron (AIXA GY) – Q4 (EUR): EBIT 63.4mln (exp. 69.1mln), Revenue 214.2mln (exp. 212.7mln). For Q1’24 expects revenue to be between EUR 100-120mln. (Newswires)

Beiersdorf (BEI GY) – FY23 (EUR): Revenue 9.45bln (exp. 9.48bln), Sales 9.5bln, +9.5%. Outlook: Consumer Business Segment “mid-single digit organic sales”. (Newswires)

CRH (CRH LN) – FY23 (USD): 6.32bln, +15% Y/Y, Revenue 34.9bln (exp. 35.1bln). (Newswires)

Drax (DRX LN) – FY23 (GBP): Adj. Pretax 796mln (exp. 766mln), Adj. EBITDA 1.21bln (exp. 1.11bln, adj. Revenue 7.84bln (prev. 8.16bln Y/Y). Non-exec director to stand down. (Newswires)

Equinor (EQNR NO) – To halt helicopter flights on the Norwegian continental shelf following an accident, aims to return operations back to normal quickly. (Newswires)

Getlink (GET FP) – FY23 (EUR): Net 326mln (prev. 250mln Y/Y), EBITDA 979mln (prev. 881mln Y/Y), Revenue 1.83bln (prev. 1.60bln Y/Y). (Newswires)

GSK (GSK LN) – Confirms it has reached a confidential settlement with Boyd/Steenvord resolving the case filed in California state court. (Newswires)

Grifols (GRF SM) – FY23 (EUR): Adj. EBITDA 1.47bln (exp. 1.42bln), Revenue 6.59bln (exp. 6.60bln). Dividend will be paid in December 2024. (Newswires)

Haleon (HLN LN) – FY (GBP): Revenue 11.3bln (exp. 11.28bln). Positioned to deliver on guidance for 2024 and over the medium term. (Newswires)

Howden (HWDN LN) - FY (GBP): Revenue 2.31bln (exp. 2.31bln). On track with FY outlook. (Newswires)

IAG (IAG LN) – FY (EUR): Revenue 29.5bln (exp. 29.4bln), adj. Net 2.66bln (exp. 2.29bln), adj. Operating 3.5bln (exp. 3.5bln). 92% booked for Q1 and 62% for H1. Positive outlook for 2024, expect to generate significant cashflow throughout the year. (Newswires)

LSE (LSEG LN) – FY (GBP): Revenue 8bln (exp. 7.99bln), Operating 1.37bln, PBT 1.19bln (exp. 2.7bln), adj. EBITDA 3.77bln (exp. 3.77bln), final dividend of 0.793/shr. Buybacks for 2024 with the intention to acquire directly form Blackstone/Thomson Reuters consortium. Seeing an encouraging IPO pipeline for the LSE. (Newswires)

Man (EMG LN) – FY23 (USD): Adj. EPS 0.184 (exp. 0.21), AuM 1.67bln, Adj. Pretax 340mln. (Newswires)

Merlin Properties (MRL SM) - FY (EUR): Net -83mln (prev. 263mln), Gross Rent 475mln (prev. 452mln), EBITDA 367mln (prev. 334mln). Further decline in valuations expected across the portfolio. (Newswires)

MTU Aero (MTX GY) – FY23 (EUR): Adj. Revenue 6.3bln (prev. forecast 6.1-6.3bln), Adj. EBIT 818mln (prev. forecast 800mln), Adj. Net Income 594mln (exp. 600mln). Outlook: FY Revenue 7.3-7.5bln, Adj. EBIT margin 12%. (Newswires)

Ocado (OCDO LN) – FY23 (GBP): PBT -403.2mln (prev. -500.8mln Y/Y), Adj. EBITDA 54.2mln (prev. -74.1mln Y/Y), Revenue 2.83bln (prev. 2.52bln Y/Y). (Newswires)

Schroders (SDR LN) – FY (GBP): adj. EPS 0.325 (exp.0.32), Net 402mn (exp. 508mln), PBT 487mln (exp. 613mln), AUM 750bln (prev. 737bln). Anticipate the uncertain operating environment could persist into year end. Begin the year in a strong position to capitalise on interesting market opportunities. (Newswires)

SES (SESG FP) – FY (EUR): Revenue 2.03bln (exp. 1.99bln), adj. EBITDA 1.03bln (exp. 1.03bln), adj. Net 215mln (exp. 651mln), Dividend 0.50/shr (exp. 0.51/shr). Contract backlog of 4.3bln. (Newswires)

Serco (SRP LN) – FY23 (GBP): Op. 248.7mln. (Newswires)

Subsea7 (SUBC NO) – Q4 (USD): Adj. EBITDA 245mln (prev. 169mln Y/Y), Revenue 1.63bln (prev. 1.29bln Y/Y). (Newswires)

Technip Energies (TE FP) – FY (EUR): Revenue 6.0bln (exp. 6.4bln), EBIT 445mln (exp. 451mln), Net 294mln (exp. 320mln), Order Intake 10bln (prev. 3.8bln). CEO: propose a 10% increase to the dividend and a EUR 100mln buyback. (Newswires)

TotalEnergies (TTE FP) – To supply Sembcrp with 0.8 Mtpa of LNG for 16 years. (Newswires)

Weir (WEIR LN) – FY23 (GBP): Revenue 2.64bln (exp. 2.69bln). (Newswires)

Veolia (VIE FP) – FY23 (EUR): EBITDA 6.45bln (exp. 6.5bln), Revenue 45.4bln (exp. 45.5bln). Proposes to increase the dividend to 1.25/shr. Guides initial FY24 organic revenue solid growth Y/Y. (Newswires)

Vidrala (VID SM) – FY23 (EUR): Adj. Net 233.4mln (prev. 153.7mln Y/Y), Revenue 1.56bln (prev. 1.35bln Y/Y). (Newswires)

Volkswagen (VOW3 GY) - XPeng (XPEV) and VW finalise agreement on platform and software collaboration, accelerating the joint development of B-class electric vehicles, while establishing a Joint Sourcing Programme aimed at reducing platform costs. (Newswires)

Aston Martin (AML LN) downgraded to Neutral from Outpeform at Oddo

Bayer (BAYN GY) downgraded to Neutral from Outperform at Citi

Eni (ENI IM) downgraded to Underperform from Neutral at BNP Paribas

EDP Renovaveis (EDPR PL) upgraded to Outperform from Neutral at BNP Paribas

Repsol (REP SM) upgraded to Outperform from Neutral at BNP Paribas

29 Feb 2024 - 07:10- Research Sheet- Source: Newsquawk