Additional European Equity News
Air France-KLM (AF FP) - Q2 2026 (EUR): Revenue 9.277bln (prev. 8.443bln Y/Y), Adj. Operating Profit 484mln (prev. 735mln Y/Y), Net Income 190mln (prev. 649mln Y/Y), Operating Profit 455mln (prev. 1.079bln Y/Y). Operating margin 5.2% (prev. 8.7% Y/Y). FY2026 guidance: capacity +2% to +3% (revised from +2% to +4%), unit cost guidance unchanged at 0% to +2%, net capex below 3.0bln, leverage ratio 1.5x-2.0x unchanged, expected fuel bill reduced to 8.9bln. (Air France-KLM)
Anglo American (AAL LN) - H1 2026 (USD): Revenue 9.926bln (prev. 8.954bln Y/Y), Underlying EBITDA 4.002bln (prev. 2.955bln Y/Y), Attributable Free Cash Flow 803mln (prev. 322mln Y/Y), Basic Underlying EPS 0.77 (prev. 0.32 Y/Y), Net Debt 8.2bln (prev. 8.6bln Y/Y), Interim Dividend/share 0.23 (prev. 0.07 Y/Y). EBITDA margin 38% (prev. 32% Y/Y), Attributable ROCE 15% (prev. 9% Y/Y). Agreed sale of Steelmaking Coal for up to 3.875bln cash, De Beers sale progressing, integration planning for Teck merger well advanced. (Anglo American)
Rolls Royce (RR/ LN) - H1 2026 (GBP): Adj. pretax profit 1.93bln (exp. 1.7bln), adj. op. profit 2.53bln (exp. 1.7bln), adj. revenue 11.5bln (exp. 10.2bln); sees FY adj. op. profit of 4.7-4.9bln, FCF seen at 3.8-4.0bln; notes further confidence in mid-term guidance; completed 1.4bkn of the planned 2.5bn share buyback for 2026, issues 6p divdend. (Rolls-Royce)
Shell (SHEL LN) - Q2 2026 (USD): Adj. EPS 1.76 (exp. 1.55), Adj. EBITDA 20.7bln (exp. 18.8bln), re-starts previously suspended USD 3.0bln share buyback. Adjusted EBITDA 20.710bln (prev. 13.313bln Y/Y) Net Income 10.821bln (prev. 3.601bln Y/Y) Operating Cash Flow 21.432bln (prev. 11.937bln Y/Y) Free Cash Flow 17.524bln (prev. 6.531bln Y/Y) Basic EPS 1.94 (prev. 0.61 Y/Y) Adj. EPS 1.76 (prev. 0.72 Y/Y) Net Debt 41.754bln (prev. 43.216bln Y/Y) Dividend/share 0.3906 (prev. 0.3580 Y/Y) Gearing 18.7% (prev. 19.1% Y/Y). (Shell)
Stellantis (STLAM IM/STLAP FP) - H1 2026 (EUR): Net 670mln (exp. 555mln). Q2: Net 293mln (prev. -1.87bln), adj. Operating 773mln (exp. 914mln), Industrial FCF 1bln (prev. 1bln). Confirms FY26 guidance. H2 performance likely to be skewed towards Q4, given the Q3 summer production slowdown. Breakdown: Net Revenue: Q2 improvement was driven mainly by North America +13% Y/Y for Net revenue, South Africa +6%, Enlarged-Europe U/C, APAC slightly softer. Sales, vs Q2 2025: North America +6%, Enlarged Europe +3%, South America -2%, APAC -29%. (Globenewswire)