Report
Guy Sips ...
  • Lenny Van Steenhuyse
  • Michiel Declercq
  • Ruben Devos
  • Wim Hoste

Morning Note: ARGX BB, KBCA BB, OBEL BB, SMAR BB, UMI BB

Argenx: Go decision in CIDP: off to the races
KBC Ancora: HY20/21, loss of € 8.1m in absence of KBC dividend
Orange Belgium: Polygon argues buyout price is still too low
Smartphoto group: Beating our expectations
Umicore: Keep an eye on the silver price
Underlyings
ArGEN-X SE

Argenx N.V. is a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer. Utilizing its suite of differentiated technologies, Co. is focused on developing product candidates with the potential to be either first-in-class against novel targets or best-in-class against known, but complex, targets in order to treat diseases with a significant unmet medical need.

KBC Ancora SCA

KBC Ancora's principal activity is the maintenance and management of its shareholding in KBC Group with a view to ensuring, in collaboration with Cera, MRBB and the Other Permanent Shareholders, the shareholder stability and continuity of KBC Group. Co.'s assets consist almost entirely of this participating interest in KBC Group. Thus its recurrent income consists principally of the dividend it receives from its participating interest in KBC Group.

Orange Belgium SA

Orange Belgium is a telecommunications operator in Belgium. Co. provides a range of products and services to the residential and business markets, including mobile telephony, fixed telephony, fix data, Asymmetric Digital Subscriber Line. Co.'s Belgium segment is divided into two operating units: Mobile as well as Fix voice data. Co.'s Mobile operating unit provides mobile phone equipment and services to residential and corporate customers, while Co.'s Fix voice and data operating unit provides fix voice, data and internet services to residential and corporate customers.

Smartphoto Group

Smartphoto Group is a diversified photo and multimedia group. It has two core activities that are structured into two separate divisions, the Retail Group and the Imaging Group. The Retail Group focuses on consumer electronics and on multimedia products on several local markets. Imaging Group provides goods and services that are directly concerned with both analogue and digital photography in the broad sense. These are mainly products and services concerned with the production of photo prints, which implies a specific production process for 'photofinishing'. Several entities in the Imaging Group deal in goods required for taking photos and printing them.

Umicore

Umicore is global player in the materials technology and recycling industries. Co. focuses on application areas such as chemistry, materials science, metallurgy and recycling. Co.'s business model comprises four segments: Catalysis, Performance Materials, Energy Materials and Recycling. Catalysis focuses on the abatement of global automotive emissions; Performance Materials focuses on materials that help develop more sophisticated and safer products; Energy Materials produces materials used in the production and storage of clean energy including rechargeable batteries and photovoltaics; and Recycling treats complex waste streams containing precious and other non-ferrous metals.

Provider
KBC Securities
KBC Securities

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

 

Analysts
Guy Sips

Lenny Van Steenhuyse

Michiel Declercq

Ruben Devos

Wim Hoste

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