Additional European Equity News - 5th November 2026
ORIGINAL · NewsquawkAdditional European Equity News - 5th November 2026Read originalHide original
Air France (AF FP) - Q3 2026 (EUR): Net Income 908mln (exp. 730.8mln), Op. Income 1.34bln, +11% Y/Y, Revenue 9.92bln (exp. 9.96bln). Still sees FY Net Capex beneath 3bln. (Air France) BT (BT/A LN) - H1 Trading Update (GBP): Adj. EBITDA 4.1bln (exp. 4.05bln, prev. 4.13bln Y/y), Adj. Revenue 8.75bln (prev. 9.81bln Y/Y). Affirms outlook. (BT) Croda (CRDA LN) - Q3 Trading Update: Revenue 449.9mln, +6.6% Y/Y. Affirms FY26 outlook. (Croda) Diageo (DGE LN) - Q1 Trading Statement (USD): Revenue 4.93bln, +1.4% Y/Y. Affirms FY27 outlook. (Diageo) Howden Joinery (HWDN LN) - Trading Update (Period 7-11): Pro-forma group sales +2.1% Y/Y. Affirms outlook. (Howden Joinery) Hikma (HIK LN) - Q4 Trading Update (USD): Guides FY26 Op. Profit 740-760mln (prev. guided 720-770mln). Raised branded rev. growth to c. 10% (prev. saw 6-8%). (Hikma) National Grid (NG/ LN) - H1 2026 (GBP): Op. Profit 2.35bln (prev. 1.52bln Y/Y), PBT 1.73bln (prev. 1.95bln Y/Y), EPS 26.9p (prev. 36.5p Y/Y). (National Grid) RS Group (RS1 LN) - H1 2026 (GBP): EPS 20.9p (prev. 17.6p Y/Y), Revenue 1.54bln (prev. 1.4bln Y/Y). Affirms outlook. (RS Group) Next (NXT LN) - Q3 2026 (GBP): Full Price Sales +8.1% Y/Y. All of the sales over-performance came from our international business. The additional £5m profit from these sales has been offset by increased international operational costs. Q4 Sales outlook: Sees Total Product Full Price Sales +5.9% (prev. saw +8.5%). (Next) Orsted (ORSTED DC) - Q3 2026 (DKK): EBITDA 5.26bln (prev. 3.05bln Y/Y), Impairments 3.44bln (prev. 1.75bln Y/Y). Co. maintains EBITDA outlook. Gross investments are expected to amount to 45-50bln (-5bln vs prev. guidance). FY Adj. EBITDA minimum 28bln (exp. 29.7bln). (Orsted) Vistry (VTY LN) - Trading Update: H2 avg. daily net debt expected at c. GBP 800mln. (Vistry) Michelin (ML FP) downgraded to Underweight from Equal Weight at Barclays
The roundup reports mixed company results and outlooks, including raised Hikma guidance, lower Next Q4 sales expectations, Ørsted investment guidance, and a Barclays downgrade of Michelin.
News detail
Air France (AF FP) - Q3 2026 (EUR): Net Income 908mln (exp. 730.8mln), Op. Income 1.34bln, +11% Y/Y, Revenue 9.92bln (exp. 9.96bln). Still sees FY Net Capex beneath 3bln. (Air France) BT (BT/A LN) - H1 Trading Update (GBP): Adj. EBITDA 4.1bln (exp. 4.05bln, prev. 4.13bln Y/y), Adj. Revenue 8.75bln (prev. 9.81bln Y/Y). Affirms outlook. (BT) Croda (CRDA LN) - Q3 Trading Update: Revenue 449.9mln, +6.6% Y/Y. Affirms FY26 outlook. (Croda) Diageo (DGE LN) - Q1 Trading Statement (USD): Revenue 4.93bln, +1.4% Y/Y. Affirms FY27 outlook. (Diageo) Howden Joinery (HWDN LN) - Trading Update (Period 7-11): Pro-forma group sales +2.1% Y/Y. Affirms outlook. (Howden Joinery) Hikma (HIK LN) - Q4 Trading Update (USD): Guides FY26 Op. Profit 740-760mln (prev. guided 720-770mln). Raised branded rev. growth to c. 10% (prev. saw 6-8%). (Hikma) National Grid (NG/ LN) - H1 2026 (GBP): Op. Profit 2.35bln (prev. 1.52bln Y/Y), PBT 1.73bln (prev. 1.95bln Y/Y), EPS 26.9p (prev. 36.5p Y/Y). (National Grid) RS Group (RS1 LN) - H1 2026 (GBP): EPS 20.9p (prev. 17.6p Y/Y), Revenue 1.54bln (prev. 1.4bln Y/Y). Affirms outlook. (RS Group) Next (NXT LN) - Q3 2026 (GBP): Full Price Sales +8.1% Y/Y. All of the sales over-performance came from our international business. The additional £5m profit from these sales has been offset by increased international operational costs. Q4 Sales outlook: Sees Total Product Full Price Sales +5.9% (prev. saw +8.5%). (Next) Orsted (ORSTED DC) - Q3 2026 (DKK): EBITDA 5.26bln (prev. 3.05bln Y/Y), Impairments 3.44bln (prev. 1.75bln Y/Y). Co. maintains EBITDA outlook. Gross investments are expected to amount to 45-50bln (-5bln vs prev. guidance). FY Adj. EBITDA minimum 28bln (exp. 29.7bln). (Orsted) Vistry (VTY LN) - Trading Update: H2 avg. daily net debt expected at c. GBP 800mln. (Vistry) Michelin (ML FP) downgraded to Underweight from Equal Weight at Barclays
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