European Movers: Rentokil (RTO LN) +8.1%, Galderma (GALD SW) +7.1%, Entain (ENT LN) +5.3%, Admiral (ADM LN) +2.0%, Merck (MRK GY) +1.8%, DHL (DHL GY) -3.8%
Rentokil (RTO LN) - FY 2025 (USD): Revenue 6.91bln (exp. 7.61bln), EBITDA 1.43bln (prev. 1.365bln Y/Y). Recommended final dividend of 8.24 cents, +4.6% Y/Y; total FY25 dividend of 12.39 cents, +3% Y/Y. On track to deliver North America 2027 targets of USD 100mln cost reduction and above 20% margin. Simplified approach to deliver c.800 branches and c.30 retained brands in North America. Richard Solomons, Chair of the Board, has informed the Board of his intention to retire, once a successor has been appointed. (Rentokil)
Galderma (GALD SW) - FY 2025 (USD): Sales 5.21bln (exp. 5.2bln), Adj. EBITDA 1.21bln (exp. 1.21bln). 2026 full-year guidance with attractive top- and bottom-line growth, expecting net sales growth of 17-20% at constant currency and a Core EBITDA margin of approximately 26% at constant currency. (Galderma)
Entain (ENT LN) - FY 2025 (EUR): Net Gaming Revenue 5.33bln (exp. 5.32bln, prev. 5.16bln Y/Y), Underlying EBITDA 1.16bln (prev. 1.09bln Y/Y), Adjusted diluted EPS 61.8 (prev. 29.9 Y/Y). Entain expects FY26 Online NGR (exc. US) growth of 5-7% on a constant currency basis, and remains comfortable with market expectations for FY26 Group Underlying EBITDA. (Entain)
Admiral (ADM LN) - H1 (2026): Turnover 5.90bln (prev. 5.95bln Y/Y). Net investment income 113 (prev. 86 Y/Y), profit before tax from continuing operations 958mln (prev. 827mln Y/Y), EPS 2.47 (prev. 2.13 Y/Y). (Admiral)
Merck (MRK GY) - FY 2025 (EUR): EPS 8.34 (exp. 8.34), Net revenue 21.1bln (prev. 21.2bln Y/Y), guides 2026 revenue between 20.0-21.18 (exp. 21.2bln), proposes dividend of EUR 2.20/shr (unchanged from prior). (Merck)
DHL (DHL GY) - FY 2025 (EUR): Revenue 82.9bln (exp. 83.4bln), EBIT 6.1bln (prev. 5.88bln Y/Y), dividend/share 1.90 (prev. 1.85 Y/Y). Q4: Revenue 22.1bln (exp. 22.3bln), EBIT 1.83bln (exp. 1.84bln). Guides initial FY26 EBIT of “more than” 6.2bln. “Major geopolitical uncertainty persists. Changes in tariff and trade policy are affecting international freight markets”. (DHL)
The earnings data reveals a mixed performance among European firms with strong beats from Rentokil and Galderma, indicating resilience in their sectors, while DHL's slightly disappointing outlook highlights ongoing geopolitical challenges that may skew logistics profitability. This divergence could drive sector rotation, sparking interest in growth-oriented equities like Rentokil and Galderma, while investors may reassess exposure to firms like DHL facing external pressures.