Market Updates
Europe Movers: Adidas, Air France, Halma, IAG, Intercontinental Hotels, SGL Carbon,
Bridgette Randall
05 May, 2023
Frankfurt
Adidas AG increased 7.3% to €167.86 after the German sportswear maker reported quarterly results ahead of expectations.
IAG or International Consolidated Airlines Group increased 1.7% to 149.55 pence after the parent of British Air and Iberian Air narrowed its first quarter pre-tax loss.
The airline group also lifted its full-year 2023 adjusted operating earnings outlook.
Air France KLM SA decreased 1.7% to €1.43 after the airline group reported a smaller first quarter loss and the company repaid €0.9 billion of its debt.
Revenue in the first quarter increased 42% to €6.3 billion and the airline group transported 19.7 million passengers, 35% higher than in the previous year.
Net loss shrank to €337 million from €552 million a year ago and the passenger load factor improved 11.8 percentage points to 86.1%.
SGL Carbon SE declined 0.6% to €8.75 after the company forecasted flat sales in 2023 compared to the previous year and adjusted operating earnings between €160 million and €180 million.
Revenue in the first quarter increased 4.7% to €283.7 million and adjusted EBITDA improved 9% to €40.1 million.
Intercontinental Hotels Group decreased 1.5% to 5,432.0 pence after the company said group chief executive Keith Barr plans to step down from the office and resign from the company board.
In addition, the company said its annual 2023 revenues are likely to exceed its previous estimate.
Halma plc declined 0.1% to 2,385.0 pence and the company agreed to acquire Poland-based Sewertronics for as much as €59 million or £52 million.
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