Europe Movers: ASM International, Burberry, Continental AG, Just Takeaway.com, Pearson, Richemont

Bridgette Randall
18 Jan, 2023
Frankfurt

ASM International NV soared 9.8% to €314.35 after the maker of advanced semiconductor equipment reported better-than-expected fourth quarter revenue. 

Sales in the fourth quarter increased to €720 million mainly due to better-than-expected supply chain conditions and higher conversion of the backlog, exceeding the previous guidance of €630million to €660 million released on November 28, 2022.

Higher-than-expected new orders of  €820 million also lifted the book-to-bill ratio above 1. 

"The upside was predominantly driven by the power/analog/wafer segment, including an exceptionally high order intake in our silicon carbide epitaxy business," said the company in its investor update. 

Automakers were in focus after the release of December industry sales data as sales rose for the fifth month in a row. 

Volkswagen AG, Daimler AG, Porsche Automobil, Renault SA and Peugeot SA  traded between a loss of 0.3% and an increase of 1%. 

Burberry Group Plc rose 2.8% to 2,306.59 pence after the luxury fashion products maker reiterated its medium-term business outlook. 

Comparable sales in the fiscal third quarter ending in December increased 1% and excluding mainland China rose 11%. 

Revenue in the quarter ending in December increased 5% to £756 million and sales were flat when measured in constant currencies. 

Comparable sales rose 19% in the EMEIA region, declined in the Americas  by 1%, fell 7% in the APAC region including a 23% plunge in mainland China. 

Burberry said it has completed the repurchase of £363 million of its stocks of the authorized £400 million buyback plan. 

The company reiterated its near and medium term outlook of high-single digit revenue growth. 

Continental AG declined 3.0% to €66.20 after the German automobile parts maker lowered its adjusted free cash flow estimate and the company blamed the shortfall on the delay in customer payments. 

Adjusted free cash flow is expected to be around €1.6 billion in the fourth quarter and around €200 million for the year compared to the estimated range between €600 million to €800 million.

Pearson Plc declined a fraction to 915.85 pence after the British-publishing company reported 2022 results ahead of expectations. 

Underlying sales for the full-year increased 5% from a year ago and adjusted operating profit rose 11% to £455 million based on the British pound to the U.S. dollar rate at $1.24.  

Richemont SA increased 0.6% to Sfr 137.90 after the Swiss luxury group reported higher sales in all regions except Asia Pacific. 

Sales increased 5% and rose 8% in constant currency despite the ongoing Covid-linked disruptions in China. 

Sales increased to €5.4 billion from  €4.98 billion a year ago after sales in Europe increased 17% to €1.3 billion and in the U.S. rose 16% to €1.3 billion. 

Asia Pacific sales declined 7% to €1.9 billion. 

Just Eat Takeaway.com NV closed up 4% to 2,215.50 pence after the company reported higher-than-expected revenues in the fiscal second-half.

Total gross orders placed on the delivery platform in the fourth quarter 2022 declined 2% to €7.1 billion from €7.3 billion a year ago and were stable at €28.2 billion in 2022. 

Adjusted operating earnings was €150 million or 1.1% of gross sales in second-half 2022 from a loss of €134 million in the first-half, driven by higher revenue per order, lower delivery costs per order and overheads & operating expenses. 

Full-year adjusted operating earnings improved to approximately €16 million in 2022 from a loss of €350 million in 2021.