KBC Securities - Ackermans van Haaren NV (ACKB) Ackermans van Haaren Mediahuis Strengthens Its Presence In the Dutch Market

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KBC Securities

Sharad Kumar S.P

Ackermans & van Haaren Mediahuis Strengthens Its Presence In the Dutch Market

Mediahuis announced plans to acquire DGN Groep (DGN), the company operating online platforms such as ‘ZorgKiezer', ‘EnergieKiezer' and ‘DeGoedkoopsteNotaris'. These platforms, which form the core of DGN, provide consumers with independent advice for comparing health insurance policies, energy providers and notary services. With this strategic acquisition, Mediahuis will be strengthening its position in the online comparison market and in the Netherlands. The acquisition is subject to approval by the Dutch Financial Markets Authority. We note that, over the last couple years, Mediahuis has been strengthening its position across its core markets by acquiring local/smaller players. We value AvH's 14% stake in Mediahuis to be worth approximately €66m. We reiterate our BUY rating and €236 TP.

31/01/2025 1 EN

Underlying

Ackermans & van Haaren NV

Ackermans & Van Haaren is an investment company. Co. operates in five sectors: Marine Engineering & Infrastructure, which includes DEME NV, a dredging and marine company; Private Banking, which includes BDM NV - Continentale Verzekeringen NV (ASCO NV), which focuses on marine and industrial insurance via brokers; Real Estate, Leisure & Senior Care, which includes Extensa Group NV, a real estate developer; Energy & Resources, which includes Telemond Group, a supplier to the crane and automotive industry; and Development Capital, which is engaged in ICT and engineering, retail and distribution, real estate development, and media and printing.

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BE0003764785 Euronext Brussels Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Sharad Kumar S.P

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Ackermans & van Haaren Mediahuis Strengthens Its Presence In the Dutch Market

We are a financial services provider for several types of professional clients, each with distinct needs.

Benelux Morning Notes

Ackermans & van Haaren Delen Private Bank Deepens Presence In The Netherlands With Acquisition

Morning Notes : ACKB BB, ADYEN NA, ARCAD NA, DSFIR NA, EXM BB, FLOW NA, GLPG NA, SIP BB, ALFEN NA

VGP Feedback from the Conference Call, Cautiously Aggressive Strategy

Ascencio Q1 trading update: results in line

Titan Cement Cleaning Up Portfolio To Reinvest In Stable High-Growth Markets

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