Europe Movers: BMW, Burberry, E.ON, Ferrexpo, IG Group, Lanxess

Bridgette Randall
15 Mar, 2023
New York City

Ferrexpo Plc declined 7% to 122.0 pence after the Swiss commodities trading and mining company reported a decline in profit in 2022. 

IG Group Holdings plc dropped 9.9% to 695.50 pence after the online trading company reported third quarter revenue fell 7% on lower market volatility. 

Industria de Diseno Textil SA, parent of Zara, declined 5.1% to €27.68 despite the fashion and apparel retailer reporting record net income in 2022. 

Revenue in the full-year 2022 increased 17.5% to €32.5 billion from €27.7 billion and net income soared 27% to €4.1 billion from €3.2 billion a year ago. 

The company proposed to increased dividend 29% to €1.20 a share, ordinary dividend of 79.60 euro cents and a bonus dividend of 40.4 cents. 

Burberry Group Plc declined 3.7% to 2,245.46 and the luxury fashion group appointed Kate Ferry as chief financial officer, replacing Julie Brown who had announced her decision to step down in September 2022. 

Kate Ferry currently serves as chief financial officer of McLaren Group. 

Lanxess AG plunged 11.3% to €34.85 after the German specialty chemical company swung to a loss in fourth quarter €21 million compared to a profit of €29 million a year ago. 

E.ON increased 0.5% to €10.38 after the Germany-based utility company said sales and adjusted profit increased in full-year 2022. 

BMW AG declined 1% to €94.69 and the vehicle maker estimated operating earnings margin between 8% and 10% in 2023. 

The company also confirmed its 2022 results and said vehicle sales declined 4.8% to 2.4 million from 2.5 million a year ago. 

Revenue in the full-year 2022 increased 28% to € 142.6 billion and net income rose 49.1% to €18.5 billion.  

The company proposed a dividend of €8.50 per share of common stock compared to €5.80 in the previous year, representing 30.6% payout ratio. 

The company repurchased around 15.3 million common shares for €1.17 billion and around 1.4 million preferred shares for €106 million, by the end of 2022.