Europe Movers: Aviva, Credit Suisse, Domino's Pizza, Enel, Hugo Boss, Informa

Bridgette Randall
09 Mar, 2023
Frankfurt

Aviva Plc increased 2.8% to 462.50 pence after the insurance group agreed to allocate more capital to shareholders. 

The company declared a final dividend of 20.7 pence totaling annual dividend to 31.0 pence in 2022 and also announced a new stock repurchase program of £300 million.  

Revenue in the period increased to £2.7 billion from £2.2 billion and the insurance company swung to a loss of £1.1 billion from £2.0 billion and basic earnings per share was (38.2 pence) from 50.1 pence a year ago. 

Credit Suisse AG declined 1.9% to Sfr 2.62 after the troubled financial services provider delayed the publication of its annual report. 

Domino's Pizza Group PLC declined 8.9% to 260.0 pence after the company reported a decline in annual profit in 2022. 

Enel SpA was nearly unchanged after falling as much as 1.5% to Є5.32 and Italy's utility group agreed to sell its operations in Romania to Public Power Corp of Greece. 

Hugo Boss AG decreased 3.3% to €62.54 and the fashion apparel retailer said sales in 2022 increased 27% to record €3.7 billion. 

Sales in the Europe, Middle East and Africa region soared 32% to €2.3 billion, in the Americas rose 45% to €789 million and in Asia Pacific rose 10% to €467 million. 

Net income increased 54% to €222 million from €144 million and earnings per share rose to €3.04 from €1.99 a year ago. 

The luxury fashion retailer forecasted sales to rise "in the mid-single-digit percentage rate" in 2023.  

Informa PLC rose as much as 2.5% before closing unchanged at 68.42 pence after the event management company agreed to acquire Tarsus Group from the private equity group Charterhouse Capital Partners for $940 million.  

Informa agreed to pay $210 million in cash and the remainder through its stock with a two-year lock up and additional earnout of $45 million if Informa stock price traded at 850 pence in the lock-up period. 

The purchase price is 9.9 times Tarsus's operating earnings in the financial year 2023-24 and 9 times operating earnings in 2024-25.  

Revenue in 2022 increased to £2.2 billion from £1.6 billion and net income from the continuing operations increased to £142.1 million from £44.3 million a year ago.