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    BILL   SE0000862997

BILLERUDKORSN─S AB (PUBL)

(BILL)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Earnings drag on European shares, though Vodafone lifts telcos

05/16/2017 | 12:41pm EDT
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

LONDON (Reuters) - European shares ended little changed on Tuesday as disappointing earnings updates weighed on banks <.SX7P> and pharma stocks <.SXDP>, but a well-received outlook from Vodafone (>> Vodafone Group plc) helped Britain's FTSE 100 <.FTSE> touch a record high.

LONDON (Reuters) - European shares ended little changed on Tuesday as disappointing earnings updates weighed on banks <.SX7P> and pharma stocks <.SXDP>, but a well-received outlook from Vodafone (>> Vodafone Group plc) helped Britain's FTSE 100 <.FTSE> touch a record high.

Germany's DAX <.GDAXI> also hit a fresh all-time peak before reversing course to end flat. The pan-European STOXX 600 <.STOXX> index ended little changed, while France's CAC <.FCHI> fell 0.2 percent.

The FTSE 100 index <.FTSE> rose 0.9 percent, however, buoyed by a near 4 percent rise in Vodafone as investors overlooked its 6.1 billion euro (£5.2 billion) net loss for the year through March and focused instead on its forecast for earnings growth in the current year.

Analysts at Jefferies highlighted Vodafone's strong cost reduction as supporting its confident dividend growth guidance.

Vodafone lifted Europe's telecoms <.SXKP> sector, which is up 4.8 percent so far this year but remains among the weakest sectoral performers, and has underperformed a 9.6 percent gain in the broader STOXX 600 index.

"At the moment it's a moderate performance by the sector as a whole," said Ken Odeluga, market analyst at City Index, adding that weakness in BT (>> BT Group plc) has weighed on the sector.

"As we've seen with Vodafone, its margins are the best in Europe and organic service revenue growth in Europe is still in the single digit percentage points, so it's highly competitive. That's why you see (firms) like Vodafone looking overseas to Africa, India, where it's faced its biggest troubles in the year," Odeluga said.

Healthcare <.SXDP> was weakened by a 6.8 percent drop in BTG's (>> BTG plc) shares after the British healthcare firm published its full year figures, disappointing with a slower-than-expected growth forecast.

Likewise disappointing updates also hit shares in budget airline easyJet (>> easyJet plc), lender CYBG (>> CYBG PLC) and support services firm DCC (>> DCC plc).

As the first-quarter earnings season gathers pace the overall picture, however, is a bright one for Europe. Of the 76 percent of companies that have reported first-quarter updates, 66 percent have beaten analysts' expectations, pointing to earnings growth of around 20 percent, according to Thomson Reuters I/B/E/S data.

Swedish packing materials firm BillerudKorsnas (>> BillerudKorsnas AB (publ)) saw its shares drop 3 percent, touching their lowest level since July 2016, after warning of a significant financial impact in the second quarter following a breakdown of a pulp line at its Gruvon Mill.

Banking stocks <.SX7P> were also weak, with UBS (>> UBS Group AG) down more than 2 percent, extending losses from the previous session after Singapore sovereign wealth fund GIC Private Limited cut its stake in the Swiss bank at a loss.

Europe's energy sector <.SXEP> also provided support earlier in the session as the oil price rose on expectations of extended supply cuts, before easing to trade flat. [O/R]

(Reporting by Kit Rees; Additional reporting by Danilo Masoni; Editing by Jeremy Gaunt)

By Kit Rees


ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 2.07% 0.985 End-of-day quote.-36.86%
BEST INC. -3.14% 1.85 Delayed Quote.-9.31%
BILLERUDKORSNÄS AB (PUBL) -0.32% 168.8 Delayed Quote.15.97%
BT GROUP PLC -0.13% 158.45 Delayed Quote.19.81%
DAX -0.72% 15531.75 Delayed Quote.13.22%
DCC PLC -1.79% 6268 Delayed Quote.21.05%
DOW JONES AFRICA TITANS 50 INDEX -0.12% 511.21 Delayed Quote.-3.27%
EASYJET PLC 4.10% 680.6 Delayed Quote.-2.60%
FTSE 100 -0.38% 7051.48 Delayed Quote.9.15%
MSCI UNITED KINGDOM (STRD) -0.84% 1125.261 Real-time Quote.10.07%
NEXT PLC -0.51% 8178 Delayed Quote.15.41%
S&P AFRICA 40 INDEX -0.44% 165.74 Delayed Quote.-4.06%
S&P UNITED KINGDOM (PDS) -0.33% 1401.54 Delayed Quote.9.44%
SONOVA HOLDING AG -2.91% 373.3 Delayed Quote.62.30%
STOXX EUROPE 600 -0.90% 463.29 Delayed Quote.16.10%
SWISS RE LTD -0.15% 80.3 Delayed Quote.-3.65%
VIRGIN MONEY UK PLC 1.13% 206.7 Delayed Quote.53.68%
VODAFONE GROUP PLC -0.47% 113.8 Delayed Quote.-5.90%
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Analyst Recommendations on BILLERUDKORSN─S AB (PUBL)
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Financials
Sales 2021 26 059 M 3 013 M 3 013 M
Net income 2021 1 502 M 174 M 174 M
Net Debt 2021 4 728 M 547 M 547 M
P/E ratio 2021 23,2x
Yield 2021 2,91%
Capitalization 34 920 M 4 031 M 4 038 M
EV / Sales 2021 1,52x
EV / Sales 2022 1,45x
Nbr of Employees 4 406
Free-Float 87,3%
Chart BILLERUDKORSN─S AB (PUBL)
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BillerudKorsnńs AB (publ) Technical Analysis Chart | BILL | SE0000862997 | MarketScreener
Technical analysis trends BILLERUDKORSN─S AB (PUBL)
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 7
Last Close Price 168,80 SEK
Average target price 161,67 SEK
Spread / Average Target -4,23%
EPS Revisions
Managers and Directors
Johann Christoph Michalski President & Chief Executive Officer
Ivar Andreas Vatne Chief Financial Officer & Executive Vice President
Jan Olof Svensson Chairman
Christer Robert Oskarsson SimrÚn Chief Operating Officer & Executive Vice President
Michael M. F. Kaufmann Deputy Chairman
Sector and Competitors
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WESTROCK COMPANY15.90%13 470
PACKAGING CORPORATION OF AMERICA3.47%13 381
MONDI PLC8.43%12 359