Europe Movers: British Land, CTS Eventim, Iliad, Intertek, Johnson Matthey, Julius Baer, Mitchells & Butlers

Inga Muller
22 May, 2025
Frankfurt

Iliad Group, the French private telecom company, reported higher revenue and earnings in the first quarter of 2025.

Revenue edged up to €2.53 billion from €2.43 billion, profit surged to €517 million from €91 million, and diluted earnings per share rose to €8.69 from €1.53 a year ago.

“The French market continues to experience a slower dynamic than in the previous quarters in the fixed segment despite the introduction of connectivity-only offers,” the company said in a release to investors.

The company added 3,000 net new subscribers in the quarter, driving a 1% increase year-on-year in the total subscriber base to 7.57 million.

Sales in Italy edged up 9.4% in the quarter, while in Poland they were up 2.1%.

Julius Baer Gruppe AG traded flat at CHF 54.56 after the Swiss bank released an investor update for the first four months of 2025.

Assets under management stood at CHF 467 billion, a 6% decline over the previous year, reflecting a stronger Swiss franc and the deconsolidation of Julius Baer Brazil, while the company opened an onshore branch in Italy.

The company said net new money inflows accounted for CHF 4.2 billion despite ongoing de-risking of the client book.

CTS Eventim AG eased 0.6% to €112.60 after the German ticketing services and live entertainment company reported higher sales in the first quarter of 2025.

Revenue increased 22% to €498.6 million from €408.7 million, adjusted EBITDA rose 8.9% to €100.3 million from €92.2 million, and the adjusted EBITDA margin was down to 20.1% from 22.6% a year ago.

The company said sales in the ticketing segment improved by 16.9%, and they were up 24.5% in the live entertainment segment from a year ago, respectively.

Intertek Group dropped 2.6% to 4.792 pence after the British product testing services provider reported higher sales in the first four months of 2025.

Revenue climbed to £1.09 billion from £1.08 billion a year ago, as comparable revenue rose 4.5% in constant currency and 1.1% at actual rates.

The company said it will target a dividend payout ratio of 65% through fiscal 2025.

British Land Company Plc. plunged 5.1% to 390.40 pence after the property development and investment company reported lower revenue in the fiscal year 2025.

Revenue declined to £454 million from £575 million, net income swung to a profit of £338 million from a loss of £1 million, and diluted earnings per share swung to a profit of 35.0 pence from a loss of 0.1 pence a year ago.

The company proposed a dividend of 10.56 pence per share payable on July 25 to shareholders on record on June 20.

Looking ahead, British Land expects fiscal year 2026 underlying earnings per share to be broadly flat, compared to 28.5 pence a year ago, which equates to underlying profit growth of 2%.

The property company reiterated its guidance of 3% to 5% per annum estimated rental value growth across the portfolio.

Mitchells & Butlers Plc surged 4.1% to 287.36 pence after the UK-based restaurants, bars, and pubs operator reported higher revenue in the first six months of fiscal 2025.

Revenue jumped to £1.45 billion from £1.40 billion, profit edged up to £100 million from £81 million, and diluted earnings per share rose to 16.7 pence from 13.5 pence a year ago.

Same-store sales increased by 4.3% compared to the prior year, as comparable drink sales edged up 4.3% and food sales jumped 3.8%.

The company expects food and drink inflation to increase heading into fiscal 2026 and estimates higher labor costs as well.

Johnson Matthey Plc. soared 30.4% to 1,812 pence after the UK-based specialty chemicals and technologies company reported a sharply higher profit in fiscal 2025.

Revenue declined to £11.67 billion from £12.84 billion, profit surged to £373 million from £108 million, and diluted earnings per share rose to 211.2 pence from 58.3 pence a year ago.

The company has agreed to sell Catalyst Technologies Inc. to Honeywell International Inc. at an enterprise value of £1.8 billion, and £1.4 billion of the net sale proceeds will be returned to shareholders.

For the year ahead, the engineering company expects mid-single-digit percentage growth in underlying operating profit at constant precious metal prices and constant currency, compared to £389 million in fiscal 2025.