Analysis: Stocks

Aalberts: FY 2025: Decline, talks and no guidance

Significant news After a year marked by negative organic growth, margin compression, and earnings pressure, Aalberts is asking investors to look past the present and focus on a recovery that is still...

Hiscox buys itself a clean slate

After its major misstep during the pandemic, the British insurer is coming back strong, posting a third straight year of revenue growth.

ASX Transforms Amid Strong Revenue Momentum

ASX Limited is redefining its market infrastructure through large-scale technology upgrades and expanded data services, reinforcing its role as Australia's financial backbone while navigating...

Chalco Capitalizes on Aluminum Demand Surge

Global aluminum demand is accelerating, driven by Asia-Pacific construction and EV packaging momentum, while Aluminum Corporation of China Limited leverages its full-value chain, South American CBA...

Erste Group: Strong set of results and confirmed guidance

Earnings/Sales releases The group posted a strong set of quarterly results. It confirmed its 2026 guidance, which is fully in line with consensus expectations at the operating level but slightly below...

Nexity: 2026: further revenue decline

Earnings/Sales releases In March 2024, Nexity aimed to maintain a steady booking rate of 14,000 units annually. However, in 2025, the company recorded 12,008 orders. This downward trend persisted into...

Leonardo: Leonardo FY25: Execution confirmed, visibility still pending

Earnings/sales releases Leonardo delivered a solid set of FY2025 results, confirming operational progress and improved financial discipline. However, structural weak spots persist, key growth drivers...

AGEAS: FY25 in line; focus shifts to China margins and UK execution

Significant news Ageas delivered FY25 broadly in line with expectations, with net operating profit up 33% y/y to €1.65bn, boosted by a €300m China Tax One-Off. Excluding this and recent M&A,...

Ebro Foods: Ebro's resilience is still there

Earnings/Sales releases Ebro Foods has shown resilience, despite slightly missing sales expectations due to the deflationary environment, particularly in its rice segment. Although affected by pricing...

E.ON: FY25 results in line – Capex programme expended but under conditions

Earnings/Sales releasesE.ON reported FY25 results fully in line, confirming the resilience and visibility of its regulated network model. Two watchpoints stand out: first, €48bn CapEx over...

Alcon: Markets forgive Q4 miss for a healthy 2026 outlook

Earnings/Sales releases Even though Q4 sales and profitability missed consensus, the markets seem happy with the 2026 outlook. Q4 performance was underpinned by healthy growth in both the Surgical and...

Partners Group: Partners Group's 6% yield is a go

Significant news Partners Group suffers, like its listed peers, from AI being labelled as evil after being hailed as growth squared. Private Debt funds are bearing the strain. This may not be a...

Bureau Veritas: BV's consistently good performance outflanked by Wendel's ambitions, shares still attractively priced

Earnings/Sales releases BV's 2025 results slightly exceeded expectations on profitability, despite meeting consensus expectations on sales and organic growth. The organic growth was above 6%, driven...

Saipem: Saipem: Record Q4 Margin, Growth Expected in 2026

Earnings/Sales releases Q4 results show strong sequential improvement, with EBITDA of €515m on revenues of €4,515m . Asset Based Services margin reached 15.7% , confirming operating leverage in...

Nordex SE: Profitability reform continues to gather momentum, but limited upside after today's reaction

Earnings/Sales Releases Nordex posted another profitability beat, driven by higher installations as well as strong underlying profitability in the executed backlog and better margins in Service. 2025...

Haleon: Sales miss accompanied by conservative guidance weighs on sentiment

Earnings/Sales releases Haleon reported full-year results with sales slightly below consensus, though profitability exceeded expectations. Top-line growth was driven by decent contributions from most...

Fresenius: Inline Q4 ensured a healthy finish to FY 25

part of Kabi, largely driven by bios...

Iberdrola: FY25: Solid underlying performance without surprise, 2026 looks promising

Earnings/Sales releases Iberdrola delivered solid results in line with expectations, supported by increased generation assets and robust organic as well as perimeter growth in regulated activities, as...

Santander: A RoTE objective too far

Strategic plan The management confirmed its 2028 upbeat financial objectives and disclosed its new remuneration policy. The positive share price reaction shows that it managed to partly reassure...