CS
Abertis R FY net income EU897M est EU886.7M
ABN -2-3% Numbers good but capital light (impacts cash return
thesis)
Aker BP +1-2% Positive read from Staoil on Johan Sverdrup
Aker Sol +3% 9% EBITDA beat, revs 7% ahead, guidance unchanged
Akzo Nobel +1% CS UPGRADE to OUTPERFORM (All about M&A)
AstraZeneca +1-2% Positive study of Brilinta, reduces CV events
Carlsberg UNCH FY Sales DKK 61.8b est DK 62.32b, raise cost savings
target
Deut Post -0.5% US weak as Amazon seeks to be added as shipping carrier
Gas Nat +2% confirmed new CEO/Chairman, numbers slightly light
GN Store M/P FY revs DKK9.59b vs cons 9.57b, guidance inline
Hannover Re +2% FY17 Net Income 15% ahead of cons
Hexagon +2-3% Q4 Revenues 4.5% ahead, Adj. Pre-tax 6% ahead
IMB M/P Sees trading in line with views & on track to meet FY
Lundbeck +2-3% Rev guidance light but core EBIT guidance ahead
Lundin +1-2% Positive read from Staoil on Johan Sverdrup
Miners M/P Copper +0.50%, Brent +0.40%, Iron Ore +0.20%, China
-1.70%
Neste +3-5% Beat driven by renewables and divi hike
Novozymes -1% Numbers light, buy back bigger
Orange Bel +2% Q4 Revs 1% below cons, net adds strong, guidance inline
Osram +2-3% Revs and EBITDA ahead, guidance inline
Raiffeisen +1-2% Net profit ahead but no guidance given
Rentokil +2% CS UPGRADE to OUTPERFORM (Risk reward)
Rio -0.5% EBITDA miss, buyback exteneded by $1b, would have liked
$2b
Sanofi -1% Q4 EPS EU1.06 est EU1.15, sales slightly ahead
Severn Trent M/P Numbers inline with market expectations
Smurfit M/P EBITDA 351mln cons 342mln, Europe better, US soft
SHB -1-2% Bottom-line miss of 17% vs cons, costs disappointing
Statoil +2-3% Net income of $1,306m cons $1,286m, propose div hike
Swisscom +1% Q4 EBITDA +1.5% beat with 2018 guidance in line
Talanx +1% Expects FY profit inline, div expected at least flat
Tullow -1-2% Already pre-announced, negative commentary on Kenya
MF
*SANOFI-Q4 Sales 8.69b(8.67),Net 1.33b(1.43),Bizz EPS 1.06(1.15).....-0.5%
*OSRAM-Q1 Ebitda 172m(151),Rev 1.03b(1.02),FY Ebitda 700m(685).......+3% *ABN-FY Pft 2.79b(2.52),Q4 Op Inc 2.43b(2.22),CET1 17.7%(17.7).......+1% *CARLSBERG-FY NI 1.26b(4.87),Ebit 8.88b(8.81),Sales 61.8b(62.23).....-2%
*HANDELSBANK-Q4 NI 3.76b(4.25),NII 7.78B(7.65),CET1 22.7%(23.2)......-2% *GN STORE-FY Rev 9.59b(9.57),Divi 1.25(1.47),1 yr B/B of 1bln........+0.5% *SWISSCOM-FY Rev 11.66b(11.61),Ebitda 4.3b(4.32),FY18 o/l inline.....+1% *STATOIL-NI 1.3b(1.2),Op Inc 4b(3.74),Net 1.3b(1.22),Capex 11b.......+2% *DEUT POST-Amazon eyes move into parcel del say Capital Forum........-0.5% *HANNOVER RE-FY NI 950m(823.1),Gross Prems +9%,Div €5,FY o/l ok......+1% *DELIVERY HERO-Q4 Sales 159.8m(157),FY Sales 544.2m(548),o/l +ve.....+2%
*STOREBRAND-Q4 Net Inc 473m(498.3),Solvency II 172%,Div 2.5..........+2% *LUNDBECK-FY Rev 17.23b(17.25),Ebit 4.41b(4.51),outlook fine.........-1%
*NESTE-Q4 OP 311m(290.6),Rev 3.64b(3.33),FY Div 1.7(1.6).............+2%
*HEXAGON-Q4 PT 240.4m(227),Net Sales 959.3m(917.9),Div 53c(53).......+2% *ELECTROLUX-France alleges co in breach of antitrust rules...........-2%
SHB
CARLB +1% Q4. Adj EBIT 8.88b (+1% v cons 8.81b), mgn 15.8% (Cons 15.6%)
LUNDBECK ->5%q4 rev dkk4.392m (CONS 4.447) PTP 882 (CONS 1.023)
AKSO +3% q4 rev NOK6.444b (cons 6.05) ebitda 482 (cons 440) strong cash flow
GN +2% q4 rev dkk2.677b (CONS 2,652) EBITDA 632m (CONSe 618)
STL +3% DIV incr by 4.5% to $0.23/quarter. Product growth guidance 3-4%
STB +3% Q4 Solvency II 172%. Ptp 381m (cons 654) Gwill -237m (cons -101m)
ATEA +2% Rev nok10b (cons 9.620), adj EBITDA 488m (cons 476).
CAV1V -2% Q4 miss, Rev 590m (-3% v cons 611). No divi paid (Cons EU 0.03).
HEXAB +4% Q4: Rev growth 10% (cons 5.2%), adj EBIT 247 (+7% v cons 231),
NZYMB -2% Q4 rev dkk3.67b (CONS 3.75) EBIT 1.02b (CONS 1.08) FY18 gwth 4-6