Report
Alexander Makar ...
  • Cedric Duinslaeger
  • Jan Opdecam
  • Ruben Devos
  • Wim Hoste

KBC Securities Morning Note 26-10-2018 BEFB BB, DSM NA, EXM BB, FUR NA, HOMI BB, NYR BB, OBEL BB, PROX BB, QFG BB, REC BB, WDP BB, XIOR BB

Befimmo: 3Q18 results
DSM: Preview 3Q trading update
EXMAR: Transitional 3Q, positive newsflow
Fugro: 3Q18 update, solid Marine performance
Home Invest Belgium: 3Q18 results
Nyrstar: Preview 3Q trading update
Orange Belgium: 3Q18 review - EBITDA raised by 4%, BUY confirmed
Proximus: In-line Q3 results, FY18 EBITDA guidance raised
Quest for Growth: Weak 3Q results, NAV at € 8.32 p.s.
Recticel: Preview 3Q trading update
WDP: 3Q18: solid earnings growth and pipeline visibility
Xior: 3Q Results 2018: continuous growth
Underlyings
Befimmo SA

Befimmo is engaged in real estate investments. Co.'s activities are dedicated solely to the ownership and management of a real-estate portfolio. As of Dec. 30, 2012, the portfolio consisted principally of office buildings located in Brussels and let to public authorities or private businesses, and office buildings in various town centres in Flanders and Wallonia, let long-term to public authorities, and a building located in the city of Luxembourg.

Downing Strategic Micro-Cap Investment Trust

Exmar N.V.

Exmar is a diversified and independent industrial shipping group that serves the international oil and gas industry. Co. provides ships for products transport and performs studies, undertaking the management of commercial, technical or administrative activities. Co. specializes in gas transport activities, particularly Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG) and Ammonia (NH3). Co., through it's subsidiary EXMAR Shipmanagement, provides ship management and ancillary services to ship owners, including regasification and liquefication; other services offered by Co. include insurance brokerage (managed by its subsidiary Belgibo) and an in-house travel agency (Travel Plus).

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.

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.

Nyrstar NV

Nyrstar is a multi-metals company, produces and sells zinc and lead, as well as other metals, such as silver, gold, and copper. Co. produces zinc, which is used to protect steel from corrosion to construction and transport sectors. Co.'s products include zinc die casting alloys for hot chamber die casting processes, as well as niche alloys for special purposes to produce everyday objects, such as kitchen and bathroom fittings, toys, lock ware, zippers, and various auto and electronic components; zinc and special zinc alloys for the hot dip galvanizing industry; and zinc-continuous galvanizing products used in the construction, automotive, and consumer goods sectors.

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.

Proximus SA de droit public

Proximus supplies integrated telecommunications services on the Belgian market. Co.'s activities are divided into four segments: Consumer Business Unit (CBU), which sells voice products and services, internet and television, on fixed and mobile networks, to residential customers; Enterprise Business Unit (EBU), which caters to professional customers; Service Delivery Engine and Wholesale, which centralizes all the network and IT services and costs, provides services to CBU and EBU and sells these services to other telecom and cable operators; and International Carrier Services, which focuses on international carrier activities.

Quest for Growth

Quest for Growth Privak Leuven is a Belgium-based closed-end private equity fund. The Fund focuses on European technology-based growth companies covering such sectors as life sciences, information technology, software, semiconductors, telecom, electronics, new materials and special situations in other growth sectors. The Fund invests in growth companies with the objective of converting capital gains into tax-free income through the Privak structure, an investment vehicle tailored to provide a framework for investments in private equity and in growth companies. As of Dec. 31, 2013, the Fund's investment portfolio totaled Euro120,264,108 and assets totaled Euro125,347,624.

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.

Warehouses De Pauw SCA

Warehouses De Pauw and its subsidiaries are engaged in investment in the Belgian semi-industrial property market. Co. is a closed-end property investment company which specializes in: development of storage and distribution premises; customized projects in line with the user's request; acquiring premises for customers who wish to engage in sale and leaseback transactions.

Xior Student Housing NV

Provider
KBC Securities
KBC Securities

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

 

Analysts
Alexander Makar

Cedric Duinslaeger

Jan Opdecam

Ruben Devos

Wim Hoste

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