Report
Alan Vandenberghe ...
  • Bart Cuypers
  • Guy Sips
  • Jason Kalamboussis
  • Joachim Vansanten
  • Lenny Van Steenhuyse
  • Michiel Declercq
  • Ruben Devos
  • Thomas Couvreur
  • Wido Jongman

Morning Note: AKA FP, BRNL NA, OPTI BB , FLOW NA, HAL NA, INGA NA, INTER EN, INTO BB, IVA FP, KDS NA, XFAB FP

AKKA: Update on restructuring costs in GE and FR
Brunel International: Strong 4Q margin and cost efforts
Crescent: FY20 will see Covid-19 delays and postponements
Flow Traders: Blowout 4Q20 results
Hal Trust: Soon to be listed cash?
ING: FY20 beat. Quietly turning into a capital story
Intertrust: Comforting 4Q20 results
Inventiva: Cash at € 113m, ready for phase III launch in 1H21
IO&W: FY20: No surprises, still a great valuation play
Kiadis: Launch of Sanofi tender offer
X-FAB: Great set of results prompts estimate upgrade
Various: DTPL update : Adding ING
Underlyings
AKKA Technologies SE

Akka Technologies is an engineering and technology consultancy company. Co. bases its service around two areas which enable it to cover the full life cycle of a product: information and systems technology and engineering. Co.'s activities can be divided into six areas: Mechanical Engineering, Process Engineering, Document Engineering, Industrial Information Technology and Embedded Systems, Information Systems and Consulting. Co. operates mainly in France, Belgium and Germany. Co also operates in Italy, Romania, Switzerland, Spain, England and Canada.

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.

Crescent

Option is a supplier of cellular gateways and a solution provider for the machine-to-machine (M2M) space. Co. has five operating segments: Devices & Solutions, which produces USB devices, routers as well as the end to end service offerings; M2M, which includes Co.'s device, called CloudGate; Embedded & Solutions, which is engaged in the production of embedded devices or module offerings and associated integration and certification services; License, which relates to license deals, closed with third parties; and Other, which includes the connection manager software business and mobile security solutions.

Flow Traders NV

Flow Traders Cooperatief UA is a global technology-enabled liquidity provider, which specializes in Exchange Traded Products (ETPs). As a technology company operating in a financial services industry, Co. uses its proprietary technology platform to quote, bid and ask prices in thousands of ETP listings, as well as similar financial products. Co. also provides liquidity to institutional counterparties off-exchange across all regions. Liquidity provision makes markets more efficient and transparent, promoting better execution quality and lower overall trading costs for market participants.

HAL Trust

HAL Trust is the trust holding company for HAL Holding N.V. Co.'s only asset is the outstanding shares of HAL Holding N.V. Co.'s strategy is to invest in companies where it can play an active role as shareholder and board member. Co. invests mainly in industrial and real estate companies.

ING Groep N.V.

Intertrust NV

Intertrust NV is a company based in the Netherlands. The Company provides trust and corporate services to corporations, funds, financial institutions and private individuals. Its services include formation and implementation, domiciliation and management, legal administration, accounting and reporting, intellectual property, carbon solutions, escrow, capital markets services, fund services, securitization and structured finance services, treasury management, depositary services and real estate solutions, among others. The Company operates offices in the Americas, Europe, Asia, Australia and the Middle East.

Intervest Offices & Warehouses SA

Intervest Offices & Warehouses is a Belgian property investment fund. Co. specializes in investments in office buildings and semi-industrial properties situated on locations outside municipal centres. Co.'s business properties are located on the Antwerp-Brussels axis. Its activities can be divided into two business segments: Offices segment which includes the properties that are let to companies for professional purposes as office space; and Semi-industrial buildings segment which includes those premises with a logistical function, storage facilities and high-tech buildings. At Dec 31 2010, Co.'s portfolio consists of 69% in offices buildings and 31% in semi-industrial buildings.

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.

Kiadis Pharma

Kiadis Pharma is a clinical stage biopharmaceutical company focused on research, development and future commercialization of cell-based immunotherapy products for the treatment of blood cancers and inherited blood disorders. Co.' lead product ATIR101 is being tested using a single-dose regimen in patients with blood cancer who have not found a matching donor and where a partially matched (haploidentical) family member is used as donor for HSCT.

X Fab Silicon Foundries SE

Provider
KBC Securities
KBC Securities

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

 

Analysts
Alan Vandenberghe

Bart Cuypers

Guy Sips

Jason Kalamboussis

Joachim Vansanten

Lenny Van Steenhuyse

Michiel Declercq

Ruben Devos

Thomas Couvreur

Wido Jongman

Other Reports on these Companies
Other Reports from KBC Securities

ResearchPool Subscriptions

Get the most out of your insights

Get in touch