European Movers: Zalando (ZAL GY) +6.5%, Leonardo (LDO IM) +4.9%, Generali (G IM) +1.8%, Daimler Truck (DTG GY) +1.4%, RWE (RWE GY) -0.1%, BMW (BMW GY) -3.0%

BMW (BMW GY) – Q4 2025 (EUR): EBIT 2.12bln (exp. 1.92bln), Revenue 33.5bln (exp. 37.4bln). FY 2025: Revenue 133.45bln (prev. 142.38bln Y/Y), EBIT 10.18bln (prev. 11.50bln Y/Y). For FY 2026, the Co. assumes that headwinds from higher tariffs will further impact the EBIT margin in the Automotive Segment by about 1.25 percentage points. (BMW)

Daimler Truck (DTG GY) – FY (EUR): EPS 2.56 (exp. 3.47), Adj. EBIT 3.78bln (exp. 3.73bln). Outlook 2026: Group expects operational improvement on higher volumes and efficiency gains compensating for increased tariff effects; Adjusted return on sales (IB) forecasted between 6% to 8%. (Daimler Truck)

Generali (G IM) – Q4 2025 (EUR): Net Income 957mln (exp. 1bln), Op. Profit 2.06bln (exp. 2.03bln). FY 2025: GWP 98.12bln (exp.  98.86bln), Net Profit 4.17bln (exp. 4.22bln). Confirms 2027 guidance. (Generali)  

Leonardo (LDO IM) – FY 2025 (EUR): Revenue 19.5bln (exp. 19.4bln), Adj. Net Income 1bln (prev. 0.74bln Y/Y). Raises quarterly dividend to EUR 0.63/shr, +21%. Guides initial FY 2026 Revenue 21bln, EBITA 2.03bln, Orders of around 25bln. (Leonardo)

RWE (RWE GY) – FY 2025 (EUR): Adj. EBITDA 5.1bln (exp. 4.85bln), Adj. Net Income 1.81bln (prev. 2.32bln Y/Y). FY Outlook: Adj. EBITDA  5.2-5.8bln (exp. 5.57bln). Adj. Net Income 1.55-2.05bln. (RWE)

Zalando (ZAL GY) – FY 2025 (EUR): Revenue 12.3bln (exp. 12.3bln), Adj. EBIT 590.7mln (exp. 580.1mln). FY Outlook: Adj. EBIT 660- 740mln (exp. 692.3mln). Announces a share buyback programme of up to EUR 300mln. (Zalando)