KBC Securities - ADYEN (ADYEN NA) Morning Note: ADYEN NA

Report

KBC Securities

Thomas Couvreur

Morning Note: ADYEN NA

Adyen: Prudence warranted from sector trends headwinds

13/12/2021 1 EN

Underlying

ADYEN

See profile

Provider

KBC Securities

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

See profile

Analysts

Thomas Couvreur

Other Reports on these Companies

KBC Securities

ADYEN: Prudence warranted from sector trends headwinds ADYEN NA

Today we published a note on Adyen, highlighting some of the sector trends we see at enterprise-level merchants and peers. We appreciate Adyen’s strong positioning in a market that will continue to see activity shift away from incumbent players, supporting Adyen’s high growth. Several market trends that we expect to become more prevalent going forwards, counter some of the key selling points of the Adyen platform. With this longer-term view, we believe many of the TPs on the street are too bullish. We reiterate our Reduce rating, though increase our TP to €2,250 based on increased eBay take-up...

December 13, 2021 December 13, 2021 1 EN

Bryan Garnier

ADYEN (BUY, TP EUR2,900) | eBay acquires 1.25% of Adyen by exercising the first tranche of its warrants

December 3, 2021 December 3, 2021 3 EN

Belysse 1Q25 revenue -4.3%, reflecting weaker performance in Europe

1Q revenue dropped by 4.3%, reflecting weaker demand in Europe against a tough comparable. 1Q adjusted EBITDA declined, due to a lower performance in Europe despite growth in the US. After the weaker than expected 1Q performance, we have lowered our FY25/26 adjusted EBITDA forecasts by c. 5%. Valuation continues to look attractive and prompts us to reiterate our Accumulate rating and € 1.6 target price.

April 25, 2025 April 25, 2025 1 EN

Lynn Hautekeete

Lynn Hautekeete

Qrf City Retail 1Q25 trading update: casa and two new independent directors

QRF's 2025 trading update focusses on the CASA bankruptcy and appointment of 2 new independent directors: Pieter Bogaert (Director of Real Estate & Development and Compliance Officer at Xior) and Kara De Smet (CFO of Retail Estates). Casa represents 6.7% of total contractual rents. Four out of five locations have been re-let at similar contractual rents. There is however a transition period before the bankruptcy is finalised which implies rental loss. 2025 will be a transition year with CASA and the redevelopment of 2 assets in Ghent. This is partially offset by the office income (EUR 534k ann...

April 25, 2025 April 25, 2025 1 EN

Livio Luyten

Livio Luyten

Texaf Q1 FY25: Solid Performance In RE; New Projects Boosting Growth

During Q1 FY25, TEXAF's real estate segment delivered robust performance despite DRC's challenging geopolitical environment, achieving near 100% occupancy and €7.7m in rental income from Kinshasa's residential and office properties, up 29% YoY. Growth was driven by the new Promenade des Artistes (94 apartments) and 6,000 m² of additional coworking/private office space at Silikin Village Phase III, with private office occupancy exceeding 90% (75%/35% for fixed/flexible coworking spaces). Like-for-like rental income rose 6%. The sandstone quarry in Kinshasa (Carrigres) saw sales drop 52% versus ...

April 25, 2025 April 25, 2025 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Morning Note: ADYEN NA

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

ADYEN: Prudence warranted from sector trends headwinds ADYEN NA

ADYEN (BUY, TP EUR2,900) | eBay acquires 1.25% of Adyen by exercising the first tranche of its warrants

Belysse 1Q25 revenue -4.3%, reflecting weaker performance in Europe

Qrf City Retail 1Q25 trading update: casa and two new independent directors

Texaf Q1 FY25: Solid Performance In RE; New Projects Boosting Growth

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe