Europe Movers: Deutsche Boerse, Hill &Smith, Johnson Matthey, Renewi

Bridgette Randall
25 May, 2023
Frankfurt

Deutsche Boerse AG declined 1.06% to €163.90 after the German stock market operator made a formal offer to acquire SimCorp at 735.0 Danish kroner per share. 

Johnson Matthey Plc declined 1.7% to 1,837.0 pence after the UK-based chemical company reported a decline in annual profit. 

Revenue in the fiscal year 2023 declined 7% to £14.9 billion from £16.0 billion and underlying profit from continuing operations dropped 20% to £326 million from £407 million and earnings per share fell to 178.6 pence from 213.2 pence a year ago. 

Hill & Smith Plc advanced 4% to 1,420.45 pence after the company reported a record operating performance in the four months to the end of April. 

Revenue in the four-month period increased 18% in constant currencies and 10% on an organic basis compared to relatively soft market conditions in the previous year.  

The company said full-year operating profit is expected to be "ahead of the top end of the analysts' estimates."

Renewi Plc dropped 1.9% to  575.0 pence after the waste-to-product company reported a decline in the fiscal year 2023 on higher costs and volatility in recyclate prices. 

Revenue in the fiscal 2023 increased to €1,892 million from €1,869 million and statutory after-tax profit declined to €66.6 million from €75.4 million a year ago. 

Basic earnings per share fell to 79 cents from 93 cents a year ago. 

The company guided operating performance in the fiscal year 2024 to match market expectations and recycled metal, paper, and plastics prices are expected to be more stable around current levels in the fiscal year, "except wood prices which remain strong."