Vgp Nv. VGP NV is a Belgium-based real estate development company that constructs and develops industrial real estate and ancillary offices, which are rented out to clients on long term lease contracts. The Company operates in three business segments: the Development activities segment is focused on the identification and acquisition of the land and development of the infrastructure, the design of buildings, the coordination of architectural and engineering aspects, the administration to obtain the necessary permits, the tendering and coordination of the construction works, including site management, and the facility management of the real estate portfolio; the Property Management and Leasing services segment is responsible for managing the operation of the buildings, and the Facilities Management services segment is responsible for managing the operation of the buildings and performs all actions, such as maintenance services, waste management services and maintenance greenery, among others.
  • TickerVGP
  • ISINBE0003878957
  • ExchangeEuronext Brussels
  • SectorReal Estate Investment & Services
  • CountryBelgium
Alan Vandenberghe ...
  • Cedric Duinslaeger
  • Guy Sips
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Marcel Achterberg
  • Michiel Declercq
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Dynamic Top pick List 2020 - Update

Today we update our Dynamic Top Pick List : - We ADD : NN Group - We remove: Agfa, Orange Belgium, Sipef

Joachim Vansanten ...
  • Wido Jongman

Benelux Sector Note: A fundamental Buy on Logistics

Buy logistic players. While the sector is not immune to Covid-19, the elevated short-term risk profile is mitigated because of 4 factors: 1) Fundamentally, demand is strong, driven by an accelerated take-up in e-commerce, further nearshoring and a move away from ultra-thin supply chains. 2) The short-run impact is (partly) mitigated as result of temporary storage needs and a boost in e-commerce. 3) We evidence in this note that the companies in our universe have healthy balance sheets to weather the storm. 4) We argue that valuations are resilient for potential Covid-19 impact.

Alan Vandenberghe ...
  • Bart Cuypers
  • Guy Sips
  • Joachim Vansanten
  • Marcel Achterberg
  • Michiel Declercq
  • Wido Jongman
  • Wim Hoste

Morning Note: AED BB, AKZA NA, ASM NA, BAR BB, BFIT NA, GIMB BB, HEIO NA, HEIA NA, RAND NA, VGP BB, WDP BB

Aedifica: Liquidity profile improved – bridge loans extended Akzo Nobel: Solid 1Q results, upgrade to Accumulate ASM International: 2Q20 beat - Continued strength despite uncertainty Barco: 1Q strong in Entertainment, weak in Control Rooms Basic-Fit: 1Q20 TU : It’s all about liquidity Gimv: Covid-19 Update Heineken: 1Q beer volume -2.1%, March beer volume -14% Heineken Holding: 1Q20 update Randstad: Strongly impacted but better than expected 1Q20 VGP: Successful closing of € 200m ABB WDP: 1Q20: So far limited impact of Covid-19

Alan Vandenberghe ...
  • Cedric Duinslaeger
  • Guy Sips
  • Joachim Vansanten
  • Thomas Couvreur
  • Wido Jongman

Morning Note: BFIT NA, ECONB BB, EVS BB, FUR NA, GREEN BB, RET BB, TERB BB, VGP BB

Basic-Fit: TGG issues shares to strengthen balance sheet Econocom: Withdrawal of dividend and EBC sale confirmation EVS: New chairman of the board : Johan Deschuyffeleer Fugro: Seabed impacted by Covid Greenyard: Good COVID-19 update Retail Estates: We move to BUY – Better early than sorry? Ter Beke: Abandons its outlook; optional dividend VGP: Think WIN-WIN

Bart Cuypers ...
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Michiel Declercq
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: GLPG NA, MITRA BB, RAND NA, SOLV BB, VGP BB

Galapagos: Discovery collaboration with Ryvu Mithra: Estelle – NDA submitted to FDA to seek approval Randstad: 1Q20 preview and investment case update Solvac: A Gift of € 24.4m? VGP: 1Q20 Results; New JV with Allianz Various: Stress-test on COVID-19, ABI still preferred stock

VGP loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of VGP (BE), active in the Real Estate Holding & Development industry. The title has lost a star(s) at the fundamental level and now shows 2 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date February 28, 2020, the closing price was EUR 96.20 and its potential was estimated at EUR 110.76.

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 week...

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