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Now, let's have a look at some of the individual stocks on the move today here in Europe. I'm Caroline Hepkin. I'm joined by Bimberg Report A Chlo Malay. Good morning. Let's start with Stilantis. The auto stocks had a really bad day in Europe yesterday and Stilantis are whopping crop dropped today.
Yeah, absolutely massive message drop in the shares this morning, and that is because Silantis said that it will be taking charges of about twenty two billion euros as part of these kind of major restructuring of operations that includes primarily moving away from electric vehicles. So just to give an idea of some of where that money is going. Within that twenty two billion year figure, we've got about a six point five billion in payments to compensate suppliers,
for example. And the CEO said that the changes were largely reflecting the cost of overestimating the pace of the energy transition. So now they're kind of walking that back. He's eliminated fully electric models and also left a joint venture with the South Korean battery manufacturer, so very much moving away from those previous ambitions under the previous the previous CEO around those electric vehicles, and there's other big
parts of this restructuring strategy. One of the main things as well is refocusing on the US market, moving a little bit away from Europe as well. So charges were expected, but they are actually way ahead of what analysts had anticipated,
which explains this really negative stock reaction this morning. And now it really puts pressure on the CEO who joined just last year in June, so he's not really been at the HELM for that long, but it's really putting pressure on him to show that those really big changes around electric vehicles, around moving away from Europe are going to start paying off at some point.
Yeah, and still Antis's chef price down as much is eighteen and a half percent today. Sticking with automotives, how is Kongsburg firing this morning?
Very well, we were talking about electric vehicles, but this is about armored vehicles, and it seems that in this environment is probably much better to be in the armored vehicle business than the electric vehicle business. So Kongsburg operates kind of across the range of industry, but the one that is really going to be the focus today is
the defense side of the business. So it's signed a contract that is valued at about one hundred and forty million euros to deliver remote weapons stations to the German and Swedish Armored Vehicle System. So a remote weapons station is a system that allows to operate weapons using a joystick from inside the protection of a vehicle. So essentially we're talking about the gun that sticks out of a tank. So they provide that and so that is a big contract.
And in Kongsburg also reported earning stay and you know, it had all the divisions reporting double digit growth in twenty twenty five and as well in the fourth quarter. And it also said that they had a really strong order backlog. So it seems that Consberg is in great shape overall and that really contributed to this huge jump in the shap price this morning.
Yeah, very interesting. As Europe of course grapples with the fact that there are so many different tankers being built by so many different countries. You know, that point has been made frequently that there's sort of too much of a range, lack of interoperability. Yeah, I think very interesting. Okay, let's also think about all stared reporting a profit miss how investors digesting that.
Well, it seems that they're actually fine with it because the company also plans to reinstate dividends and to also accelerate spending this year. So there seems to be an effort from Austed now to kind of move on from the troubles of last year when it had to deal with so much pushback from the Trump administration against the wind industry, and it also had to do this massive rights offering to boost this balance sheet. That's the rights issue that that's all we could talk about last summer,
I remember. But now the company wants to return castra and for the first time since twenty twenty three, and it wants to really focus on what is next. So that's what investors are focusing on this morning, which explains the share price actually actually jumping this morning. But it seems, you know, that troubles are getting a little bit better, but the outlook is still quite uncertain for the industry. That Trump administration has not changed its stance on wind turbines.
It still hates them and still wants to kind of hold the projects from for Austed and other companies within that space. The costs are still high, supply chain issues are still a problem, so it's not out of the woods just yet, but the fact that the dividend was reinstated was reassuring to investors.
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