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Additional European Equity News - 24th September 2026

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European equity updates showed strong operational beats at H&M, Raspberry Pi, and Halma, contrasted with Vistry's large impairment loss and Casino's planned non-payment of upcoming debt interest.

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Asos (ASC LN) - Trading Update: Co. expects to deliver Gross margin above its 48-50% guided range and Adj. EBITDA above the midpoint of the GBP 150-180mln guided range. (Asos) Casino (CO FP) - Co. says that discussions are continuing with the various stakeholders with a view to reaching a consensual solution. As part of these discussions, there are no plans to provide for interest payments on the TLB debt on their due date at the end of September. (Casino) Ex-Dividends - Standard Life (SDLF LN), Computacenter (CCC LN) will trade without entitlement to their latest dividend. (dividenddata) Gaztransport et Technigaz (GTT FP) - Co. announces that it has received an order from Hudong-Zhonghua Shipbuilding for the tank design of one new LNG Carrier, on behalf of an Asian ship-owner. Delivery scheduled for Q4'28. (GTT) Halma (HLMA LN) - Trading Update: Strong progress has been made in the first half of the year. Raises FY27 Adj. EBIT Margin between 23.5-24% (prev. guided "around" 22.7%). (Halma) Hikma (HIK LN) - Co. appoints Rebecca Hall as CFO, effective Q1'27. (Hikma) H&M (HMB SS) - Q3 2026 (SEK): Revenue 57.2bln (exp. 57.1bln), Operating Profit 6.04bln (exp. 5.27bln), Net Income 4.1bln (exp. 3.56bln), Operating Margin 10.6% (prev. 8.6% Y/Y). Sees September sales at +1%. Operating Profit includes the positive one-time effect related to tariffs. CEO: "Our work – especially within purchasing, cost control and more efficient operations – has contributed to a more profitable business. Although sales developed in a positive direction during the quarter, we see further potential to increase sales going forward." (H&M) Raspberry Pi (RPI LN) - H1 2026 (GBP): Revenue 256.9mln (prev. 135.5mln Y/Y), Adj. EBITDA 40.3mln (prev. 19.4mln Y/Y), Pretax Profit 19.6mln (prev. 6.2mln Y/Y), Unit Volume 4.2mln (prev. 3.6mln Y/Y). Guides unit volumes to be higher in H2'26 than in H1'26 and FY26 EBITDA ahead of market consensus. (Raspberry Pi) Subsea 7 (SUBC NO) - Co. has been awarded a contract extension to its Sakarya Phase 3 contract in offshore Turkey. (Subsea 7) Vistry (VTY LN) - H1 2026 (GBP): Revenue 1.42bln (prev. 1.64bln Y/Y), Adj. Operating Profit -36.2mln (prev. 124.4mln Y/Y), Adj. Pretax Profit -83.3mln (prev. 80.6mln Y/Y). Adj. Pretax Profit loss reflects both discounting of Open Market stock to generate cash and approx. GBP 50mln in relation to the early impacts of the CEO review process. Reported PBT includes a GBP 475mln impairment of goodwill and an additional GBP 73.2mln building safety provision. (Vistry) Getinge (GETIB SS) downgraded to Hold from Buy at Pareto Kingfisher (KGF LN) downgraded to Hold from Buy at Investec Telenor (TEL NO) upgraded to Buy from Hold at Kepler Cheuvreux

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