Report
Bart Cuypers ...
  • Guy Sips
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Ruben Devos

KBC Securities Morning Note 14-8-2018 AGS BB, BRNL NA, INGA NA, IVA FR, PNL NA, REA BB, TWEKA NA

Ageas: Turkish dreams, melting delights
Brunel International: Good 2Q18 results, FY18 EBIT guidance below CSS
ING: Turkish dreams, melting delights
Inventiva: Positive early carcinogenicity data for Lanifibranor
PostNL: Sandd executive calls for action
RealDolmen: Delisting after end of squeeze-out procedure
TKH Group: Solid H1 results, FY18 guidance in line with exp.
Underlyings
Ageas SA/NV

Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.

Brunel International N.V.

Accrued employee expensesBrunel is a global provider of business services that specializes in the flexible placement of professionals in the fields of Engineering, IT, Legal, Finance, Insurance & Banking and Energy. Co. provides such specialists through a range of staffing, project management, recruitment and consultancy services. Co. serves the world market for professional staffing and recruitment services from two main perspectives. On the one hand, Co. aims its services at specific supra-regional business lines. On the other hand, Co. focuses on specific countries such as The Netherlands, Germany, Belgium and Canada.

Inventiva SA

Inventiva is a clinical stage biotechnology research company delivering therapies in the areas of oncology, fibrosis and rare diseases. The most advanced clinical programs (IVA337 for systemic sclerosis in Non-Alcoholic Steato-Hepatitis and IVA336 for Maroteaux-Lamy syndrome-MPS VI) have demonstrated efficacy in relevant in vivo and in vitro models as well as safety in phase I and phase II clinical trials. Using its in-house drug discovery platform, which covers target validation, screening, chemistry, ADME and pharmacology, Co. is developing an internal oncology and fibrosis discovery pipeline with approaches centered on transcription factors, epigenetics targets and nuclear receptors.

PostNL NV

PostNL is a mail, parcel and e-commerce corporation with operations in the Netherlands, Germany, Italy, Belgium, and the United Kingdom. Co. has been assigned by the Dutch government to carry out the UPD (Universele Postdienst, Dutch for Universal Postal Service). Carrying out the UPD requires, amongst other things, Co. to deliver mail throughout the Netherlands five days a week (Tuesday through Saturday) and to maintain enough mailboxes in the country. ACM is charged with monitoring and enforcing the execution by Co. Co.'s operations are organized along three business segments: Mail in the Netherlands; Parcels; and International. Co. maintains over ten networks across thirteen countries.

Realdolmen

RealDolmen is a supplier of niche and company solutions, software development and infrastructure solutions. Co. has strategic alliances with the major ICT players on the market, allowing it to deliver and realize the single-source message. Co. helps to turn corporate strategies into efficient, reliable ICT solutions that work, bug-free, on schedule, on budget and always together with the customer. Co. can deliver full projects from start to finish. Co. can also provide support when the customer or other providers lack the necessary skills, expertise or capacity. Co. focuses on three core segments: Business Solutions, Professional Services and Infrastructure Products.

TKH Group N.V. Cert

TKH Group creates and supplies Telecom, Building and Industrial Solutions. Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. Building Solutions develops, produces and supplies solutions in the field of electro-technology ranging from applications within buildings through to technical systems that - combined with software - provide solutions for the care and security sectors. Industrial Solutions develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of car and truck tires.

Provider
KBC Securities
KBC Securities

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

 

Analysts
Bart Cuypers

Guy Sips

Jason Kalamboussis

Lenny Van Steenhuyse

Ruben Devos

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