Report
Cedric Duinslaeger ...
  • Guy Sips
  • Jason Kalamboussis
  • Marcel Achterberg
  • Ruben Devos
  • Wim Hoste

Morning Note: ASM NA, DSM NA, FFARM NA, FUR NA, INGA NA, RES BB, SOLB BB, TNET BB

ASM International: Strong bookings point to good quarters ahead
DSM: Preview 3Q: expect 5% underlying EBITDA growth
ForFarmers: From ‘purchasing positions’ to ‘nitrogen emissions’
Fugro: Partly monetizes GMG stake
ING: Upgrade to Buy: good 3Q, earnings slide priced in
Resilux: New share buy-back programme
Solvay: Preview 3Q19E : most eyes on the strategy update
Telenet: Financials a tad better, operating results fall short
Underlyings
ASM International N.V.

ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.

Forfarmers

ForFarmers NV is an agricultural feed company based in the Netherlands that offers feed solutions for conventional and organic livestock farming. Its product portfolio comprises, among others, products for crop farming and pasture farming, as well as feed for the ruminant, swine, poultry and equine sectors, including compound feed and blends, feed for young animals and specialties, raw materials and co-products to seed and fertilizers. Its core activities are feed production, logistics and the provision of total feed solutions. The Company operates through the segments The Netherlands, Germany/Belgium and the United Kingdom, and operates approximately 40 production facilities in these countries.

Fugro NV Cert of Shs

Fugro collects and interprets data related to the earth's surface, soils, and rocks beneath. Co. provides advice to oil and gas, mining, and construction industries. Co. provides the people, equipment and technology that support the exploration, development, production and transportation of the world's natural resources. Co. also provides its clients with the technical data and information required to design, construct and maintain structures and infrastructure in a safe, reliable and efficient manner. Co. operates in three divisions: Geotechnical, Survey, and Geoscience.

ING Groep N.V.

Koninklijke DSM N.V.

Royal DSM is engaged in the creation of products and services in Life Sciences and Materials Sciences. Co.'s products and services are used globally in range of markets and applications in healthcare, pharmaceutical automotive and chemicals sectors. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics and electronics, life protection and housing. The activities of Co. are grouped into four clusters: Nutrition, Pharma, Performance Materials and Polymer Intermediates.

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.

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).

Telenet Group Holding NV

Telenet Group Holding is a holding company. Through its subsdiairies and its broadband network, Co. is engaged in the provision of cable television, including television services, broadband internet and telephony services to residential subscribers in Flanders and certain communes in Brussels as well as broadband internet, data and voice services in the business market throughout Belgium and parts of Luxembourg. In addition, Co. is engaged in the provision of mobile telephony services through a mobile virtual network operator partnership with Mobistar NV.

Provider
KBC Securities
KBC Securities

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

 

Analysts
Cedric Duinslaeger

Guy Sips

Jason Kalamboussis

Marcel Achterberg

Ruben Devos

Wim Hoste

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