Fourth Quarter Earnings Recap: Week of Feb. 22 2021

Fourth-quarter earnings season got underway in Europe under a cloud of sluggish business activity and delays in Covid-19 vaccinations across the continent. Travel and associated industries have reported tough periods – exemplified by Heathrow, once Europe’s busiest airport, saying this week that 2020 was the toughest year in its history – while companies in other sectors, including retail and automotive, posted better-than-expected results. Investors are nevertheless optimistic about the reopening of travel in the coming months with aviation and leisure debt already being lifted on positive noises from governments.

Next week Jaishree Kalia, Reorg’s Managing Editor of EMEA Middle Market, will be leading a webinar on the current outlook for European mid-market lending and how the impact of Covid-19 has shaped winning and losing sectors this year.

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