Etablissements FR Colruyt is engaged in wholesale, food service, distribution of fuels, production of electricity and digital printing. Co. has three operating segments: retail, which relates to stores under Co.'s own management which directly sell to retail customers and bulk consumers; wholesale and foodservice, which supplies to wholesalers, commercial customers and affiliated independent merchants; and other activities, which operates gas stations, engaged in printing and document management and provides alternative energy.
  • TickerCOLR
  • ISINBE0974256852
  • ExchangeEuronext Brussels
  • SectorFood & Drug Retailers
  • CountryBelgium
Expert Corporate Governance Service (ECGS)

Colruyt - EGM 08 October 2020

In general, Colruyt is compliant with the Belgian regulations relating to the organisation and procedures of an Extraordinary General Meeting. Under ITEM II.3, the board of directors seeks authorisation to increase the Company's share capital to issue shares to its employees. As a matter of principle, ECGS generally favours employee stock ownership plans since such plans help to align the interests of employees with those of their companies. However, since the authority requested is not conform to its guidelines, ECGS recommends to vote OPPOSE. In ECGS' view, ITEMS II.4 - II.8 are enabling r...

Expert Corporate Governance Service (ECGS)

Colruyt - AGM 30 September 2020

In general, Colruyt is compliant with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 1, approval is sought for the report of the board of directors. Although the notice for the AGM was published in time, ECGS has concerns over (executive) remuneration and corporate governance at Colruyt. In view of the above, ECGS therefore recommends to vote OPPOSE to the report of the board of directors, since both remuneration and corporate governance are the two main elements of said report. Under ITEM 2, the board of directors seeks approval...

Colruyt : 1 director sold

A director at Colruyt sold 6,500 shares at 54.250EUR and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur
  • Wim Hoste

Morning Note: AGFB BB, BANI BB, BAR BB, COLR BB, ECONB BB, REC BB, SLIGR NA, TINC BB

Agfa: Increasing inkjet ink production capacity Banimmo: Sales agreement for ING office Louvain-la-Neuve Barco: Share split by a factor 7 and new ISIN code Colruyt: Acquisition of Daltix Econocom: ECB sale closing & 1H20 guidance Recticel: Closing of Automotive Interiors & Eurofoams deals Sligro: Extra financial leeway but dividend cut TINC: Investment in Datacenter United

COLRUYT sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of COLRUYT (BE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date June 19, 2020, the closing price was EUR 49.69 and its target price was estimated at EUR 45.44.

Valérie GASTALDY

Short term view - COLRUYT SA : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €50.92. Breaking below the support at €47.21 would invalidate the trend.

Valérie GASTALDY

Analyse court terme - COLRUYT SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 50,92 €. La rupture du support à 47,21 € invaliderait cette tendance.

Valérie GASTALDY

Analyse court terme - COLRUYT SA : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 50,92 €. La rupture du support à 47,21 € invaliderait cette tendance.

Valérie GASTALDY

Short term view - COLRUYT SA : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €50.92. Breaking below the support at €47.21 would invalidate the trend.

Valérie GASTALDY

Analyse moyen terme - COLRUYT SA : Les cours progressent toujours.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 51,06 € et 55,25 €. La tendance serait invalidée sous le support à 41,29 €.

Colruyt : 1 director sold

A director at Colruyt sold 6,500 shares at 54.250EUR and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur
  • Wim Hoste

Morning Note: AGFB BB, BANI BB, BAR BB, COLR BB, ECONB BB, REC BB, SLIGR NA, TINC BB

Agfa: Increasing inkjet ink production capacity Banimmo: Sales agreement for ING office Louvain-la-Neuve Barco: Share split by a factor 7 and new ISIN code Colruyt: Acquisition of Daltix Econocom: ECB sale closing & 1H20 guidance Recticel: Closing of Automotive Interiors & Eurofoams deals Sligro: Extra financial leeway but dividend cut TINC: Investment in Datacenter United

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Michiel Declercq
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: CPINV BB, COLR BB, DSM NA, INTO BB, QFG BB, SOLB BB, TWEKA NA, TUB BB

Colruyt: Feedback Analyst Call CP Invest: Yet another acquisition announcement DSM: Issues € 1bn bonds to finance Erber Group IO&W: Connecting with the future Quest for Growth: Illumina acquires BlueBee Solvay: Rumours about sale of two smaller units TKH Group: Interim trading update Tubize: UCB for half the price

Alan Vandenberghe ...
  • Guy Sips
  • Joachim Vansanten
  • Ruben Devos
  • Sandra Cauwenberghs
  • Thomas Couvreur
  • Wim Hoste

Morning Note: ATEB BB, BAR BB, BEKB BB, COLR BB, FLOW NA, PNL NA, UCB BB

Atenor: Capital increase for € 77.4m Barco: Expansion of Muvi relationship: 400 new screens Bekaert: Read-through from Michelin tire market data Colruyt: Soft numbers and loss of market share Flow Traders: May ETP market statistics PostNL: Interim trading update UCB: Bime in the top league of biologics for inflammation

Laurence Hofmann

Colruyt : Résultats 2019/20 globalement en ligne – petite déception sur le CA et les parts de marché

>Résultats 2019 globalement en ligne - Les ventes consolidées de Colruyt se sont établies à 9 581 M€, +1.6% en déclaré dont +1.4% en LFL, un peu en-dessous de nos attentes de 9 660 M€. EBITDA consolidé de 784 M€ (avant IFRS 16), en progression de 3.5% et en ligne avec nos attentes de 783 M€ (marge d’EBITDA stable à 8.2%). EBIT consolidé de 512 M€ (avant IFRS 16), +5.5%, légèrement au-dessus de nos attentes de 506 M€. Résultat net PdG déclaré (avant IFRS 16) : 433 M€ (...

Laurence Hofmann

Colruyt : 2019-20 results broadly in line - a slight disappointment on sales and market share

>2019-20 results broadly in line - Colruyt has reported consolidated sales of € 9,581m, up +1.6% on a reported basis and +1.4% l-f-l, a shade below our forecast of € 9,660m. Consolidate EBITDA of € 784m (before IFRS 16), up 3.5% and in line with our forecast of € 783m (EBITDA margin stable at 8.2%). Consolidate EBIT was € 512m (before IFRS 16), + 5.5%, a shade above our forecast of € 506m. Reported attributable net profit (before IFRS 16): € 433m (before IFRS 16), +12...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/17/2020

This cross-sector report from ODDO BHF equity research aims to identify the sectors and stocks positively affected by or at risk from an acceleration in the digitisation of society and the economy post COVID-19. We arrive at a list of 16 attractive stocks and 12 stocks that we see as being at risk. Cf; report ppublished last evening. - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Laurence Hofmann
  • Martial Descoutures
  • Sebastien Malafosse

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/06/2020

Cette note transversale du bureau d’étude ODDO BHF a pour but d’identifier les secteurs et valeurs positivement impactés ou en risque face à une accélération de la digitalisation de la société et de l’économie post COVID-19. Nous ressortons avec 16 valeurs attractives et 12 valeurs en risque. Cf. étude publiée hier soir. - ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • Jean Danjou
  • Laurence Hofmann

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/11/2020

...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Jean-François Granjon
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 03/11/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Delphine Brault
  • Jean Danjou
  • Laurence Hofmann

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/03/2020

...

COLRUYT sees a downgrade to Neutral on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of COLRUYT (BE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date June 19, 2020, the closing price was EUR 49.69 and its target price was estimated at EUR 45.44.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

Colruyt - EGM 08 October 2020

In general, Colruyt is compliant with the Belgian regulations relating to the organisation and procedures of an Extraordinary General Meeting. Under ITEM II.3, the board of directors seeks authorisation to increase the Company's share capital to issue shares to its employees. As a matter of principle, ECGS generally favours employee stock ownership plans since such plans help to align the interests of employees with those of their companies. However, since the authority requested is not conform to its guidelines, ECGS recommends to vote OPPOSE. In ECGS' view, ITEMS II.4 - II.8 are enabling r...

Expert Corporate Governance Service (ECGS)

Colruyt - AGM 30 September 2020

In general, Colruyt is compliant with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 1, approval is sought for the report of the board of directors. Although the notice for the AGM was published in time, ECGS has concerns over (executive) remuneration and corporate governance at Colruyt. In view of the above, ECGS therefore recommends to vote OPPOSE to the report of the board of directors, since both remuneration and corporate governance are the two main elements of said report. Under ITEM 2, the board of directors seeks approval...

Expert Corporate Governance Service (ECGS)

Colruyt- EGM 10 October 2019

In general, Colruyt is in compliance with the Belgian regulations relating to the organisation and procedures of an Extraordinary General Meeting. Under ITEM I.3, the board of directors seeks authorisation to increase the Company's share capital to issue shares to its employees. As a matter of principle, ECGS generally favours employee stock ownership plans since such plans help to align the interests of employees with those of their companies. However, since the authority requested is not conform to its guidelines, ECGS recommends to vote OPPOSE. In ECGS' view, ITEMS I.4 - I.8 are enabling ...

Expert Corporate Governance Service (ECGS)

Colruyt- AGM 25 September 2019

In general, Colruyt is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 1, approval is sought for the report of the board of directors. Although the notice for the AGM was published in time, ECGS has concerns over (executive) remuneration and corporate governance at Colruyt. In view of the above, ECGS therefore recommends to vote OPPOSE to the report of the board of directors, since both remuneration and corporate governance are the two main elements of said report. Under ITEM 2, the board of directors seeks appr...

Colruyt – Proxinvest Corporate Governance Rating ® : E

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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