KBC Securities - Benelux Local Champions Conference Feedback document

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KBC Securities

Guy Sips ...

Kristof Samoy
Michiel Declercq
Sharad Kumar S.P
Thibault Leneeuw
Thomas Couvreur
Wim Hoste

Benelux Local Champions Conference Feedback document

05/06/2024 1 EN

Provider

KBC Securities

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

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Analysts

Guy Sips

Kristof Samoy

Michiel Declercq

Sharad Kumar S.P

Thibault Leneeuw

Thomas Couvreur

Wim Hoste

Other Reports from KBC Securities

Guy Sips

Guy Sips

DEME Saltchuk takes peer Great Lakes Dredge & Dock private for $1.2bn Cash

Saltchuk a privately held US group active in freight transport, marine services and energy distribution, has agreed to acquire Great Lakes Dredge & Dock Corp (GLDD), an US offshore energy and dredging contractor often viewed as a peer to DEME due to its similar infrastructure-focused marine activities. The deal values Great Lakes at $1.2bn equity and $1.5bn transaction value, with Saltchuk offering US$17.00 per share in cash—a 25% premium to the company's 90-day VWAP and above its all-time high share price. Great Lakes is one of the largest provider of dredging services in the US, operatin...

5h / 6m 5h / 6m 1 EN

Hilde Van Boxstael ... (+8)

Hilde Van Boxstael
Kristof Samoy
Lynn Hautekeete
Michiel Declercq
Thibault Leneeuw
Thomas Couvreur
Wim Hoste
Wim Lewi

Morning Notes : ABI BB, ADYEN NA, DSFIR NA, FAGR BB, FLOW NA, NEXTA BB, MONT BB, NN NA, ONTEX BB, SIP BB, WDP BB, NXFIL NA

: ABI BB, ADYEN NA, DSFIR NA, FAGR BB, FLOW NA, NEXTA BB, MONT BB, NN NA, ONTEX BB, SIP BB, WDP BB, NXFIL NA

6h / 1m 6h / 1m 1 EN

Wim Hoste

Wim Hoste

Ontex [FY25 EBITDA at low end of guidance, FY26 guidance of +10% EBITDA]

4Q adjusted EBITDA dropped by 32% while FY25 adjusted EBITDA landed at 175.6m, which is at the low end of the € 175-180m guidance given at the time of the profit warning in December. FY26 guidance calls for a 10% increase in adjusted EBITDA to c. € 193m which is about 2% below our and consensus forecasts. We remind that Ontex recently decided to accelerate its CEO transition plan with Mr Nielly, previously President of Ontex Europe, having been appointed as the new CEO already in the course of January. Ontex has launched a strategic review, which seems mainly directed to enhancing the company'...

6h / 11m 6h / 11m 1 EN

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Benelux Local Champions Conference Feedback document

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

DEME Saltchuk takes peer Great Lakes Dredge & Dock private for $1.2bn Cash

Morning Notes : ABI BB, ADYEN NA, DSFIR NA, FAGR BB, FLOW NA, NEXTA BB, MONT BB, NN NA, ONTEX BB, SIP BB, WDP BB, NXFIL NA

Ontex [FY25 EBITDA at low end of guidance, FY26 guidance of +10% EBITDA]

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