Additional European Equity News - 13th August 2026

Antofagasta (ANTO LN) - H1 2026 (USD): Revenue 4.48bln (prev. 3.8bln Y/Y), EBITDA 2.84bln (prev. 2.23bln Y/Y), Pretax Profit 2.0bln (prev. 1.16bln Y/Y). Expects FY26 copper production to be in the range of 625k-655k tonnes (prev. guided 650k-700k tonnes). (Antofagasta) Bayer (BAYN GY) - Co. says China’s NMPA has accepted for review the application for aflibercept 8 mg for the treatment of macular edema following retinal vein occlusion. (Bayer) Costain (COST LN) - H1 2026 (GBP): Revenue 543.1mln (prev. 525.4mln Y/Y), Adj. Operating Profit 17.3mln (prev. 16.8mln Y/Y). CEO: "On track to deliver FY 26 revenue, operating profit and margin in line with the Board's expectations and a sixth consecutive year of profit growth." (Costain) Entain (ENT LN) - H1 2026 (GBP): Net Gaming Revenue +5%; Underlying EBITDA 479mln, -2% Y/Y. Reiterates FY26 Online NGR growth of 5-7%. (Entain) Hellofresh (HFG GY) - Q2 2026 (EUR): Revenue 1.55bln (exp. 1.53bln), Adj. EBITDA 120.6mln (exp. 117.8mln). (Hellofresh) Maersk (MAERSKB DC) - Q2 2026 (USD): Revenue 15.76bln (exp. 14.1bln), EBIT 1.57bln (exp. 0.54bln). Raises its FY26 guidance, sees Adj. EBIT between USD 4.5-6.5bln (exp. USD 2.52bln) and Adj. EBITDA USD 10.5-12.5bln (exp. USD 8.69bln). Says growth was particularly strong for imports into Africa, North America and Latin America, supported by continued momentum in exports from the Far East, especially China. CEO: "Growth was particularly strong for imports into Africa, North America and Latin America, supported by continued momentum in exports from the Far East, especially China." (Maersk) Orsted (ORSTED DC) - Q2 2026 (DKK): Revenue 20.6bln (exp. 16.6bln), EBITDA 5.42bln (prev. 6.64bln Y/Y), Net Income 687mln (prev. 3.35bln Y/Y). Maintains its FY26 outlook. Announces a framework for a dividend policy for FY26-28. (Orsted) Pennon (PNN LN) - The UK Ofwat announced GBP 3.4bln of projects provisionally approved for 13 water companies to improve infrastructure, support growth and improve the environment. The Cost Change process provides flexibility between Price Reviews, so companies can deliver on improvements and upgrades without delay. (Ofwat) Pershing Square (PSH LN) - Q2 2026 (USD): Distributable EPS 0.14 (exp. 0.12), Revenue 54.18mln (exp. 75.8mln). AUM +22.1% Y/Y to USD 32.49bln, supported by the USD 5bln IPO of PSUS, deployment of PSUS capital into existing and new investments, and continued performance across portfolio companies. CEO Bill Ackman and CIO Ryan Israel said the period since the IPO had been highly productive, with market volatility helping the firm deploy new capital efficiently. (Pershing Square) Rank (RNK LN) - FY 2025/26 (GBP): Underlying LFL NGR 834.1mln (prev. 788.4mln Y/Y), Underlying Operating Profit 78.6mln (prev. 64.8mln Y/Y). Reiterates ambition to deliver at least GBP 100mln underlying operating profit in the medium term. (Rank) TKMS (TKMS GY) upgraded to Outperform from Perform at Bernstein