Europe Movers: Danone, Fresenius Medical, Lloyds Banking, Rio Tinto, Stellantis

Bridgette Randall
22 Feb, 2023
Frankfurt

Danone SA increased 4.5% to €54.66 after the French yogurt maker reported the fastest sales increase in more than a decade in 2022. 

Revenue in the fourth quarter increased 12.3% to Є7.0 billion and comparable sales rose 7% and volume mix growth declined 4.4%. 

In the full-year 2022, revenue increased 13.9% to 27.7 billion and comparable sales increased 7.8% and volume mix growth declined 0.8%. 

Sales in North America increased 20.6% to €6.7 billion, in Europe increased 5.2% to €8.7 billion and rest of the world excluding China and North Asia increased 18.7% to €8.7 billion.   

Net income in the full-year 2022 declined to €1.0 billion from €1.9 billion in 2021 or 1.48 from 2.94 a share respectively. 

Lloyds Banking Group PLC decreased 2.6% to 49.62 pence after the British banking and insurance company reported flat annual income in 2022. 

Total income in 2022 increased 14% to £18 billion from £15.7 billion and after-tax income declined 6% to £5.6 billion from £5.9 billion a year ago and diluted earnings per share fell to 7.3 pence from 7.50 pence a share respectively. 

The financial services company announced its plan of a final dividend of 1.60 pence a share resulting in a total dividend of 2.40 pence and announced a new stock buyback plan in 2023 of £2 billion matching the repurchase in 2022 and 2021. 

Rio Tinto plc declined 1.7% to  6,096.19 pence after the mining company cut its annual dividend and it reported a 38% decline in annual profit in 2022.

The Anglo-Australian mining company reiterated its unit production cost estimate for iron ore in 2023 between $21.0 and $22.50, slightly higher than $21.0 in 2022. 

Pilbara iron ore production in 2023 is estimated to increase between 322 million tons and 335 million tons, higher than 320 million tons in 2022.  

Consolidated revenue in 2022 declined to $55.6 billion from $63.5 billion and net income dropped to $13 billion from $22.6 billion and diluted earnings per share fell to $7.62 from $12.95 in the previous year. 

Mining companies traded lower after metals prices weakened on the worries that the rebound in China's manufacturing activities may be slower than anticipated. 

Glencore, Anglo American and Antofagasta declined between 2% and 3%. 

Fresenius Medical SE & Co increased 7.4% to €39.8 after the dialysis services provider reported better-than-expected fourth quarter results. 

Revenue in the fourth quarter increased 7% to €10.6 billion and net income fell 15% to €445 million. 

In 2022, revenue increased 9% to €40.8 billion and net income fell 7% to €1.7 billion. 

The company said it plans to separate its medical care company and continue to hold 32% stake in the newly separated company after the shareholder approval. 

The medical care company will focus on medical care, biopharmaceuticals and medical technology units. 

The company guided 2023 operating earnings in constant currency is expected to "remain broadly flat  or decline up to a mid-single-digit percentage rate."

Stellantis NV rose 2.2% to €16.22 after the parent of Chrysler and Fiat posted better-than-expected annual results and announced a new stock repurchase plan. 

Revenue in 2022 increased 18% to €179.6 billion and net profit rose 26% to €16.8 billion. 

The company announced a stock repurchase program of €1.5 billion to be completed before the end of 2023 and €4.2 billion of ordinary dividend corresponding to €1.34 per share. 

Industrial free cash flow in 2022 increased 78% to €10.8 billion from €6 billion in the previous year. 

The automotive company estimated sales in North America, Europe and India and Middle East to increase by 5% in 2023. 

Sales in South America are estimated to rise 3% and in China by 2% in 2023. 

Vehicle sales in Europe to 2.6 million from 2.86 million and in North America slightly edged up to 1.86 million from 1.82 million in 2021.