Report
Guy Sips ...
  • Olivier Vandewoude
  • Wido Jongman
  • Wim Hoste
  • Wim Lewi

Morning Note: ASC BB, ELI BB, REC BB, RES BB

Ascencio: FY20/21 results, FV resilient as expected.
Elia Group: Outstanding Nemo Link leads to higher outlook
Recticel: Greiner reaction to phase II review
Resilux: Bid at € 235
Underlyings
Ascencio SCA

Ascencio SCA is a Belgium-based real estate investment company. Its investments are mainly focused on properties in the retail and warehouses sector and the food industry in Belgium and France. The majority of its holdings are situated in Wallonia Region of Belgium, also in Flanders, in Brussels and in France. The Company's clients include Carrefour, Champion, Decathlon, Delhaize and others. Ascencio SCA has several wholly owned subsidiaries, such as Etudibel SA, SCI Candice Brives, SCI Echirolles Grugliasco, SCI Harfleur 2005, SCI Kevin, SCI La Pierre de l'Isle, SCI Mas des Abeilles, SCI ZTF Essey les Nancy, SCI Cannet Jourdan, SCI De La Cote, SCI Du Rond Point, SCI Seynod Barral, SCI Clermont Saint Jean and Les Papeteries de Genval , among others.

Elia Group SA/NV

Elia System Operator develops, operates and maintains very-high-voltage (380 kV, 220 kV and 150 kV) and high-voltage (70 kV, 36 kV and 30 kV) networks, providing its customers with consultancy and engineering services. Whether in Belgium, Germany or elsewhere in Europe or the U.S., Co. ensures that electricity flows reliably from energy producers to distributors and large corporate customers. Co.'s main activities include transmission operator, system operator and market facilitator, developing and maintaining grid infrastructure, connecting electrical installations to grids, providing transparent access to grids, while taking initiatives to improve electricity market operations.

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.

Resilux N.V.

Resilux is engaged in the production of PET (polyethylene teraphthalate) packaging in the form of preforms and bottles. The preforms are blown into bottles by Co. or by the customer, and then filled with water, soft drinks, edible oils, ketchup, detergents, milk, beer, fruit juices, etc. Co. produces preforms for many applications and in various weights, colors and forms. Preforms and bottles are produced for both single use and multiple use. Co. offers various solutions for barrier-sensitive products.

Provider
KBC Securities
KBC Securities

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Analysts
Guy Sips

Olivier Vandewoude

Wido Jongman

Wim Hoste

Wim Lewi

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