European Movers: Vinci (DG FP) +5.5%, Orsted (ORSTED DC) +2.3%, Societe Generale (GLE FP) -2.0%, Sabadell (SAB SM) -6.2%, Coloplast (COLOB DC) -6.8%, Stellantis (STLAM IM/STLAP FP) -14.4%

Coloplast (COLOB DC) - Q1 (DKK): Revenue 7.04bln (exp. 7.13bln), Adj. EBIT 1.85bln (exp. 1.94bln). FY guidance unchanged. 

Orsted (ORSTED DC) - Q4 (DKK): EPS -5.70 (exp. -0.32), Revenue 23.1bln (exp. 20.5bln), EBITDA 3.86bln (prev. 8.25bln Y/Y). FY Outlook: Adj. EBITDA 28bln (exp. 28.7bln).

Sabadell (SAB SM) - FY (EUR): NII 4.84bln (prev. 5.02bln Y/Y), Net Profit 1.78bln (prev. 1.83bln Y/Y), announced EUR 800mln share buyback programme.

Societe Generale (GLE FP) - Q4 (EUR): Net Income 1.42bln (exp. 1.22bln), Revenue 6.74bln (exp. 6.6bln). Proposed a cash dividend of EUR 1.61/shr (incl. interim EUR 0.61/shr); share buyback programme of EUR 1.46bln.

Stellantis (STLAM IM/STLAP FP) - Co. to incur a charge of EUR 22.2bln, in relation to a business reset which aims to support profitable growth. Business Reset: Board authorised the issuance of up to EUR 5bln non-convertible subordinated perputatial hybrid bond. The Company will not pay a dividend in 2026.

Vinci (DG FP) - FY25 (EUR): EPS 8.65 (exp. 8.45), Revenue 74.6bln (exp. 74bln). 2026 outlook: Further revenue and earnings growth expected.

This morning's earnings results from key European companies show a mixed bag, with standout performance from Vinci and Orsted, despite the latter's disappointing EPS. Meanwhile, the significant drop for Stellantis raises concerns given their massive reset charge, suggesting a pivot strategy that may impact growth potential for the foreseeable future. The broad response across sectors indicates investor wariness, particularly with negative figures from Coloplast and Banco de Sabadell.