Europe Movers: Danone, Just Eat, SAP, Volvo, Vopak

Inga Muller
23 Apr, 2025
Frankfurt

SAP AG dropped 3.3% to €218.50 after the German software company reported first-quarter 2025 results.

Revenue edged up 14% to €9.01 billion from €8.04 billion, operating income swung to a profit of €2.33 billion compared to a loss of €787 million, and earnings per share came in at €1.52 compared to a loss of 71 cents a year ago.

The company completed the third tranche of its share buyback program on April 8, with a purchased volume of approximately €1.5 billion.

SAP guided fiscal 2025 cloud and software revenue to be between €33.1 billion and €33.6 billion, up 11% to 13% compared to €29.83 billion in 2024, and non-IFRS operating profit between €10.3 billion and €10.6 billion, an increase of 26% to 30% from 8.15 billion a year earlier.

The company also continues to expect current cloud backlog growth at constant currencies to slightly decelerate in 2025.

The software company proposed a dividend of €2.35 per share for fiscal 2024, an increase of 6.8% compared to the prior year.

Danone Group traded flat at €73.74 after the French dairy products maker reported higher sales in the first quarter of 2025.

Revenue jumped 0.8% to €6.84 billion from €6.79 billion a year ago, as comparable sales edged up 4.3% in the quarter.

Sales in China, North Asia, and Oceania surged 11.5% to €936 million from €840 million, while sales in North America declined by 5.9% to €1.63 billion from €1.74 billion a year earlier.

The company guided fiscal 2025 comparable sales to grow between 3% and 5%, with recurring operating income growing faster than sales.

Volvo Group eased 0.1% to 251.20 krona after the Swedish vehicle manufacturer reported first-quarter 2025 results.

Net sales declined to SEK 121.79 billion from SEK 131.18 billion, net income fell to SEK 9.89 billion from SEK 14.08 billion, and diluted earnings per share dropped to SEK 4.86 from SEK 6.92 a year ago.

The decline comes amid uncertainty surrounding U.S. tariffs and their effect on global trade, the company said in a release to investors.

Vopak NV traded flat at €37.80 after the tank storage company reported a slight increase in first-quarter 2025 revenue.

Revenue inched up to €328.9 million from €328.2 million, net profit slipped to €99.8 million from €105.8 million, and earnings per share were flat at 85 cents compared to a year ago.

The company announced a share buyback program of up to €100 million, and around 49% of the program had been executed by April 17.

Just Eat Takeaway.com traded flat at €19.16 after the Dutch on-demand delivery company reported first-quarter 2025 gross transaction value results.

Total gross transaction value amounted to €4.72 billion, up from €4.70 billion a year ago, while total orders were down 6% to 156.1 million from 166.6 million in the same quarter in 2024.

The company guided 2025 adjusted EBITDA to be between €360 million and €380 million and constant currency Gross Transaction Volume growth, excluding the rest of the world segment, to range between 4% and 8% from a year ago.

The food delivery company estimated free cash flow before changes in working capital to be approximately €100 million in 2025, with an adjusted EBITDA margin in excess of 5% of GTV.