Europe Movers: Accor, Airbus, Aegon, Anglo American, Mercedes-Benz Group, Schneider Electric

Inga Muller
20 Feb, 2025
Frankfurt

European markets attempted to rebound from sharp losses in the previous session amid another batch of mixed earnings. 

Denmark's economy in the fourth quarter expanded at a faster pace than in the previous quarter. 

The DAX index increased by 0.5% to 22,543.39, the CAC-40 index edged higher 0.6% to 8,158.04, and the FTSE 100 index declined by 0.2% to 8,697.46. 

The yield on 10-year German bonds inched higher to 2.55%, French bonds increased to 3.24%, the UK gilts moved up to 4.63%, and Italian bonds edged lower to 3.63%.

 

Stock Movers

Airbus SE decreased 1.1% to €167.08 after the aviation company delayed the release of the A350 air freight model to 2027. 

Renault SA decreased 2.9% to €49.71, and the French passenger car maker reported a 3.6% increase in operating profit in 2024.

Mercedes-Benz Group dropped 1.8% to €60.06 after the German luxury automaker reported a 41% decline in annual earnings in the car division and announced a new plan to cut costs. 

Schneider Electric SE advanced 5.6% to €260.40, and the French electric equipment maker forecast a larger-than-expected increase in margin in 2025.

Accor SA fell 2.2% to €47.39 after the French hotel group said net income in 2024 declined to €610 million from €633 million a year ago.

Anglo American plc surged 4.4% to 2,474.0 pence despite the UK-based mining company taking a write-down for its struggling De Beers unit and posting a decline in net income. 

Aegon Ltd. decreased 8.5% to €5.93 after the Dutch insurance company reported weaker-than-expected full-year results. 

 

Recent Earnings Movers 

Philips NV dropped 11.1% to €24.08 after the electronic devices manufacturer reported a comparable sales growth of only 1%, citing a double-digit decline in China.

Sales in the fourth quarter declined to €5.04 billion from €5.06 billion, net income swung to a loss of €334 million compared to a profit of €39 million, and loss per diluted share was 36 cents compared to a positive 4 cents a year ago.

For fiscal 2025, the company estimated 1% to 3% comparable sales growth, including a mid- to high-single-digit decline in China, and an adjusted EBITA margin increasing 30-80 bps to 11.8% to 12.3%.

Philips will propose a dividend of 85 cents per share, in shares or cash, for up to €786 million, and shares will be traded ex-dividend at the Euronext Amsterdam as of May 12 and at the NYSE as of May 13. 

Carrefour SA dropped 0.6% to €13.71 after the French retail and wholesale company said same-store sales increased 9.9% during fiscal 2024.

Revenue increased to €87.27 billion from €84.91 billion, net income dropped to €723 million from €1.66 billion, and adjusted earnings per share fell to €1.61 from €1.71 a year ago.

In the fourth quarter, same-store sales climbed 7.1% supported by growth in France, Europe, and Latin America.

For fiscal 2025, the company will implement a new €1.2 billion cost savings plan, as it remains committed to accelerating e-commerce operations.

Carrefour also plans to expand private label products, targeting 40% of food sales, and expand its cash and carry operations in Latin America, while further developing convenience store formats in Europe.

The food chain operator proposed a dividend of 92 cents per share, up 6% from its previously paid dividend, and a special dividend of 23 cents per share, worth €150 million.

MTU Aero Engines AG plunged 5% to €328.90 despite the German aircraft engine manufacturer reporting revenue growth in the fourth quarter ending in December.

Revenue increased to €2.12 billion from €1.71 billion, net income dropped to €143 million from €215 million, and adjusted earnings per share rose to €4.05 from €2.80 a year ago.

For fiscal 2025, the company estimated revenue between €8.7 billion and €8.9 billion, compared to €7.41 billion in 2024.

MTU plans to distribute a dividend of €2.20.

HochTief AG dropped 2.6% to €150.50 despite the global provider of infrastructure technology and construction services reporting revenue growth in fiscal 2024.

Sales increased to €33.30 billion from €27.76 billion, profit before tax declined to €715.0 million from €1.0 billion, and earnings per diluted share dropped to €6.95 from €10.31 a year ago.

For fiscal 2025, the company estimated an operational net profit between €680 million and €730 million, compared to €625 million in 2024.

HochTief proposed a dividend of €5.23 per share for €393 million, compared to €4.40 per share in 2023, and representing a payout ratio of 65% of operational net profit.

BAE Systems Plc. eased 0.3% to 1,333 pence after the London-based aerospace, defense, and information security company reported earnings growth in fiscal 2024.

Revenue increased to £26.31 billion from £23.08 billion, profit jumped to £1.96 billion from £1.86 billion, and earnings per diluted share rose to 67.6 pence from 62.4 pence a year ago.

The company paid a dividend of 18.5 pence per share and an interim dividend of 12.4 pence per share, compared to 16.6 pence per share and 11.5 pence a share in 2023, respectively.

Total dividends paid in the year amounted to £973 million, compared to £857 million in 2023.

For fiscal 2025, the company estimated sales growth between 7% and 9% and underlying operating profits between 8% and 10%.

BAE Systems upped its annual dividend by 10% to 33.0 pence per share from 30.0 pence per share, and lifted its final dividend by 11% to 20.6 pence from 18.5 pence.

The dividend will be paid on June 2 to shareholders registered on April 22, and the provisional ex-dividend date is April 17.

Mercedes Benz Group AG plunged 2.9% to €59.41 after the German luxury vehicle manufacturer reported lower earnings for the fourth quarter ending in December.

Revenue declined to €38.45 billion from €39.98 billion, net profit dropped to €2.48 billion from €3.12 billion, and earnings per diluted share fell to €2.57 from €2.99 a year ago.

The company sold 520,140 units in the quarter, supported by higher sales of plug-in hybrid vehicles, compared to 514,258 units during the same period in 2023.

Sales of vans fell 15% to 105,687 units from 124,317 units a year ago.

At the annual general meeting on May 7, the company plans to propose a dividend of €4.30 per share, lower than €5.30 in the prior year.

In addition, Mercedes-Benz plans to buy back its own shares worth up to €5 billion, or 10% of the share capital, over a period of up to 24 months.

The company plans to cut production costs by 10% through 2027.