Europe Movers: Lufthansa, Pearson, Righmove, Schaeffler

Bridgette Randall
03 Mar, 2023
Frankfurt

Deutsche Lufthansa AG increased 6.4% to €10.49 after the German airline swung to a full-year operating profit and the airline forecasted additional improvement in 2023. 

Revenue in the financial year 2022 nearly doubled to €32.8 billion from €16.8 billion and net income improved to a profit of €791 million from a loss of €2.2 billion in the previous year. 

In total, the German airline transported 102 million passengers in 2022 compared to 47 million in the previous year. 

The seat load factor improved to 79.8% in 2022, 18.2 percentage points higher than 61.6% in the previous year. 

Lufthansa cargo revenue increased 21% from the previous year and jumped 136% from the pre-covid 2019 level to a record high after yield improved in all traffic regions. 

Schaeffler AG increased 1.1% to €7.09 after the German industrial products and bearings maker announced an acquisition. 

The company agreed to acquire 100% stake in Paris-based predictive maintenance solution provider Eco-Adapt SAS and the acquisition is expected to close int he first-half of 2023. 

Pearson Plc declined 3.2% to 891 pence after the UK-based test preparatory and higher education books publisher forecasted 2023 revenue growth in "low- to mid-single digit."

Revenue in the full-year 2022 increased 12% to £3,8 billion from £3.4 billion and  operating profit increased to £271 million from £183 million and diluted earnings per share £332.6mincreased to 32,8 pence from 23.5 pence in the previous year. 

Rightmove Plc declined 1.1% to 557.40 pence despite the company reporting an increase in operating profit and raising its final dividend payment. 

The largest online property platform operator in the UK increased its final dividend to 5.2 pence from 4.8 pence and total dividend to 8.5 pence from 4.8 pence a year ago. 

Revenue in the full-year 2022 increased 9% to  £332.6 million from £304.9 million and operating profit from continuing operations increased 6% to £245.4 million from £231.0 million. 

Total agent membership was flat in 2022 at 19,014 compared to 18,969 in 2021.