Report
Guy Sips ...
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: AGFB BB, ASRNL NA, BOTHE BB, EVS BB, GLPG NA, MDXH BB, REC BB, SOLB BB

Agfa: € 350m to increase funding ratio of pension plans
ASR: 2Q above, increase TP, but prefer NN Group
Bone Therapeutics: 1H20 results – resuming clinical activities
EVS: 1H20 preview as market conditions are challenging
Galapagos: Filgotinot so fast: changes post CRL
MDxHealth: Operational improvements despite strong headwind
Recticel: Preview 1H: expect uninspiring results
Solvay: Refinancing of hybrids
Underlyings
Agfa-Gevaert NV

Agfa-Gevaert develops, produces and distributes various analog and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications. Co.'s operations can be divided into three business segments: Agfa Graphics, which provides integrated prepress products and services to the printing industry; Agfa HealthCare, which provides diagnostic imaging and healthcare IT products for hospitals and care centers around the world; and Agfa Specialty Products, which supplies a variety of film-based products to business- to-business customers outside the graphic and healthcare markets.

ASR Nederland NV

ASR Nederland NV is a multiline insurance company based in the Netherlands. The Company operates through six segments: Non-Life, comprising non-life insurances, including motor vehicle, fire, travel and leisure, transport, liability, agricultural, construction motorized vehicles and construction all risk and assistance insurance products, among others; Life, offering insurance policies that involve asset-building, asset protection, term life insurance and funeral expenses for consumers and business owners; Banking and Asset Management, providing banking activities and activities related to asset management, including investment property management; Distribution and Services, including the distribution of insurance contracts and intermediary services; Holding and Other, providing primarily holding activities of the Company, as well as Real Estate Development, specialized in the development of real estate properties. The Company operates in the Netherlands and internationally.

Bone Therapeutics SA

Bone Therapeutics is a biotechnology company with an advanced clinical pipeline of cell products for orthopaedic conditions and bone diseases (two Phase II/III and three Phase I/II clinical studies). These areas are characterized by high unmet medical needs due to the lack of efficacious and safe, non-invasive, treatments. Co. has two products in clinical trials, its allogeneic bone cell therapy product, ALLOB®, and its autologous bone cell therapy product, PREOB®. Co. is also conducting preclinical research on next generation products, such as combined cell-matrix products for large bone defects and maxillofacial.

EVS Broadcast Equipment SA

EVS Broadcasting Equipment is engaged in the development and marketing of audiovisual equipment relating to the processing of pictures and sound. Co. provides solutions based on tapeless workflows with a consistent modular architecture. Co.'s activities are divided into the following regions: Asia-Pacific, Europe, Middle East and Africa, and America.

Galapagos NV

Galapagos is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, addressing disease areas of high unmet medical need. Execution on its proprietary drug target discovery platform has delivered a pipeline that consists of three Phase 2, three Phase 1, five pre-clinical, and 20 discovery programs in inflammation, cystic fibrosis, or CF, osteoarthritis, and other indications. Co.'s highly flexible platform offers applicability across a broad set of therapeutic areas. Co.'s programs include filgotinib, GLPG1837, GLPG1690, GLPG2222, GLPG1972.

MDxHealth S.A.

MDxHealth is a molecular diagnostics company that develops and commercializes epigenetic assays and service testing for cancer assessment and the personalized treatment of patients. Co. offers two main products: Clinical Molecular Diagnostics (ClinicalMDx) Solutions that provide physicians with tests for the identification and treatment of their cancer patients; and Pharmaco Molecular Diagnostics (PharmacoMDx) Solutions for the development of companion diagnostics, biomarker discovery, and clinical trial testing. Co.'s ClinicalMDx solutions include ConfirmMDx, InformMDx, RecurMDx, and PredictMDx.

Recticel SA

Recticel is engaged in the production of a variety of polyurethane foams that are used in the furniture, technical, automotive, bedding and insulation industries. The Flexible Foam Business Line covers the manufacture, conversion and marketing of flexible polyurethane foam. The types of flexible foams are classified as Comfort, Technical Foams and Composite Foams. Co. is also engaged in the manufacture of foams used in mattresses and slat bases. In addition, Co. manufactures rigid polyurethane and phenolic foams for thermal insulation. Co.'s automotive activities include: manufacturing moulded seat cushions, window encapsulation and manufacturing interior trim components.

Solvay SA

Solvay is engaged in chemical and plastic businesses worldwide. Co. offers chemical products such as advanced materials, barium strontium, calcium chloride, caustic soda, chlorinated products, fluor, peroxygen products, polyglycerols, precipitated calcium carbonate, soda ash, and sodium bicarbonate. It also provides specialty polymers, such as Spire ultra polymers, Solviva biomaterials, and sulfone polymers. Co. structures its activities around five operating segments: Advanced Formulations, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, each with its own specific business model and each comprised of Global Business Units (GBUs).

SOLVAY SPECIALITY CHEMICALS

Provider
KBC Securities
KBC Securities

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

 

Analysts
Guy Sips

Jason Kalamboussis

Lenny Van Steenhuyse

Sandra Cauwenberghs

Wim Hoste

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