Additional European Equity Opening News

Aena (AENA SM) – Q1 (EUR): Revenue 1.03bln (exp. 0.94bln), EBITDA 368mln (exp. 327mln), EBITDA 368mln (exp. 327mln). Passenger traffic across group increased to 60.6mln, +39.8% YY; implying a recovery of 100.6% of Q1 2019 traffic. (Newswires)

Alstom (ALO FP) - New order worth almost EUR 1bln for 60 additional REG NG trains. (Newswires)

Assa Abloy (ASSAB SS) – Q1 (SEK): Sales 32.3bln (exp. 31.4bln), EBIT 5.2bln (exp. 3.69bln). Sales driven by very strong organic growth in global technologies. (Newswires)

Beiersdorf (BEI GY) – Q1 (EUR): Sales 2.48bln (exp. 2.37bln); Core brand Nivea +18%, Derma brands Eucerin and Aquaphor +26.9%, La Prairie -12%, Healthcare +7.6%. FY23 guidance: Organic Sales growth mid-to-high-single-digits expected for group and for consumer business segment. (Newswires)

Bunzl (BNZL LN) - Q1 trading update; revenue +8.4% Y/Y. Co. affirms FY23 revenue revenue, operating profit, and operating margin guidance. (Newswires) 

CRH (CRH LN) - Q1 trading update: Co. notes of a positive start to the year. Co. expects H1 group sales, EBITDA, and margin to be ahead of the prior year. Co. is to seek formal approval from holders on US primary listing. (Newswires) 

Dassault Systemes (DS FP) - Q1 2023 (EUR): Revenue 1.43bln (exp. 1.43bln). EPS 0.28 (prev. 0.27). Co. has affirmed its FY23 EPS, revenue guidance, operating margin guidance. CFO said we had a solid start of the year. (Newswires)

Drax (DRX LN) – Q1 Update: CEO says delivered a strong system support and generation performance. FY22 dividend of GBP 0.21/shr (prev. 0.188/shr). GBP 150mln buyback programme to commence in Q2 2023. (Newswires)

Flight Names – Heathrow Airport says it remains loss-making; Q1 adj. loss of GBP 139mln, due to revenue allowance in CAA’s H7 settlement being set too low. Welcomed 16.9mlln passengers in Q1. (Newswires)

Fresnillo (FRES LN) - Quarterly production: Silver +5.1% Q/Q, Gold +3.0% Q/Q. 2023 guidance remains unchanged. Co. is well on track to meet FY production guidance. (Newswires)

Fortum (FORTUM FH) – Received no official confirmation from Russian authorities that President Putin signed a decree taking over its Russian assets, currently investigating the media reports of this. (Newswires)

Getinge (GETIB SS) – FY23 Net Sales Guidance is now for unchanged (prev. guided +2/5% organically). In Q1 volume, mix and price affected sales by a net SEK 466mln, supply chains negatively impacted by at least SEK 400mln. (Newswires)

GSK (GSK LN) - Q1 2023 (GBP): Adj. EPS 0.37 (exp. 0.33). Revenue 6.95bln (exp. 6.49bln). Co. reaffirms FY23 guidance, Co. expect adj. operating profit growth to be lower in H1 2023 and higher in H2 2023. FY dividend 0.5650 (exp. 0.5663). (Newswires)

Heineken (HEIA NA) – Successfully completes acquisition of Distell and Namibia breweries, to create Heineken beverages. (Newswires)

Iberdrola (IBE SM) – Q1 (EUR): Revenue 15.4bln, Net Income 1.48bln (exp. 1.28bln), EBIT 2.7bln (exp. 2.48bln), EBITDA 4.06bln (exp. 3.8bln). (Newswires)

KPN (KPN NA) - Q1 2023 (EUR): Adj. Revenue 1.33bln (exp. 1.31bln). Adj. EBITAAL 584mln (exp. 581mln). Net 196mln (exp. 168.5lmn). Co. affirms FY adj. EBITDAAL and Capex guidance. (Newswires) 

Novozymes (NZYMB DC) – Q1 (DKK): Sales 4.66bln (exp. 4.6bln), EBITDA 1.5bln (exp. 1.45bln), EBIT 1.13bln (exp. 1.1bln). FY23 guidance maintained. (Newswires)

Persimmon (PSN LN) - Q1 trading update: Total forward sales GBP 1.7bln (prev. 2.4bln). Co. raises FY23 total completions at the top end of the prior guidance. (Newswires)  

Puma (PUM GY) – Q1 (EUR): Sales 2.2bln (exp 2.15bln), EBIT 176mln (exp. 170mln), Net 117mln (exp. 102mln), Gross Profit Margin 46.5% (exp. 46.09%). Q2: expect low to mid-single-digit sales growth, due to high inventory levels in trade and continued market headwinds. Co. and Rihanna announce a new multi-year collaboration focused on unisex and kids collections. (Newswires) -2.1% in pre-market trade

Reckitt Benckiser (RKT LN) – Q1 (GBP): Revenue 3.92bln (exp. 3.7bln), LFL +7.9%, M&A -0.5%, FX +7%, Actual +14.4%. FY guidance: now expect Group LFL net revenue growth of +3% to +5%. Licht to become CEO, by end-2023. (Newswires)

SAAB (SSAB SS) – Q1 (SEK): Sales 11.49bln (exp. 10.86bln), Net Income 735mln (exp. 555mln), Operating Income 9288mln, EPS 5.45 (exp 3.90). Reiterates FY guidance for organic sales growth, EBIT and operational cash flow. Order bookings increased to 17bln, driven by growth in large orders which amounted to 8.5bln (prev. 1.17bln). (Newswires)

Smith & Nephew (SN/ LN) – Q1 (USD): Reveneu 1.35bln (exp. 1.33bln). Continued strong growth from Sports Medicine & ENT and Advanced Wound Management and improved performance from Orthopaedics. FY23 guidance maintained. (Newswires)

Standard Chartered (STAN LN) - CFO says there are a number of interested parties in the aviation finance business, hope to complete sale of the business in the next quarter. (Newswires)

Stelllantis (STLM IM/STLP FP) - Reportedly looking to cut circa. 3.5k US jobs, via Reuters citing a UAW union letter. (Newswires)

Symrise (SY1 GY) - Q1 2023 (EUR): Revenue 1.23bln (exp. 1.21bln). Organic revenue +10.6% Y/Y. Co. affirms FY23 and FY25 guidance. (Newswires) 

Telecom Italia (TIT IM) - CEO met with officials from Vivendi (VIV FP) to discuss potential alternatives to his plan to sell the landline grid, via Corriere della Sera. (Newswires)

Teleperformance (TEP FP) - Offers to purchase Majorel for EUR 30/shr, total consideration of EUR 3bln. (Newswires)

Alfa Laval (ALFA SS) reiterated with Underweight at JPMorgan Chase

Akzo Nobel (AKZA NA) reiterated with Underweight at JPMorgan Chase

Bouygues (EN FP) reiterated with Overweight at JPMorgan Chase

Nokian Tyres (TYRES FH) reiterated with Overweight at JPMorgan Chase

Novartis (NOVN SW) upgraded to Buy from Hold at Deutsche Bank

Travis Perkins (TPK LN) reiterated with Underweight at JPMorgan Chase

Vinci (DG FP) reiterated with Overweight at JPMorgan Chase

Wartsilla (WRT1V FH) upgraded to Buy from Hold at Pareto Securities

26 Apr 2023 - 07:15- Research Sheet- Source: Newsquawk