Europe Movers: Leoni, Ricardo, Tele2, UBS, UniCredit

Bridgette Randall
31 Jan, 2023
Frankfurt

UBS Group AG declined 2% to 19.42 Swiss  francs after the financial services provider said revenue declined but earnings rose in the fourth quarter. 

UBS said fourth quarter revenue declined 9% to $8.0 billion from $8.2 billion a year ago. 

Net income in the quarter rose to $1.65 billion from $1.34 billion and diluted earnings per share rose to 50 cents from 38 cents a year ago. 

In 2022, the Swiss bank repurchased $5.6 billion of its stock and the company said it plans to buy back $5 billion of its shares in 2023. 

The company also proposed a dividend of 55 cents to shareholders on record April 13 and payable on April 14, subject to the approval from the company's board at the shareholder meeting on April 5. 

UniCredit SpA soared 11.5% to €17.75 after the Italian bank reported record fourth quarter profit and the bank said it plans to return €5.3 billion to investors. 

Revenue in the fourth quarter increased 25.4% to €5.4 billion and net income rose to €1.04 billion from €338 million a year ago. 

Assets under management declined 11.7% from a year ago and flat from the previous quarter to €193.5 billion.

 Gross bad loans declined 20.3% from the previous quarter and dropped 46.6% from the previous year to €2.4 billion.  

Ricardo Plc fell 2% to 534.20 pence after the company reiterated its fiscal year outlook. 

Leoni AG declined 15% to €5.97 after the cable and harness maker said chief executive Aldo Kemper will depart the company as of March 31. 

The company is undergoing restructuring and struggling with a heavy debt load of €1.7 billion and equity of €178 million. 

Tele2 AB declined 3.9% to kr90.20 after the telecom service provider headquartered in Stockholm said 2023 revenue is estimated to grow in "low single-digit" in end user service and operating earnings adjusted for leased assets.  

End-user service revenue increased 3% from a year ago to SEK 5.1 billion due to strong  performance in the Baltics and business-to-business customers in Sweden. 

Net profit increased to SEK 1.25 billion from SEK 953 million and earnings per share rose to SEK 1.82 from SEK 1.39 a year ago.