Report
Bart Cuypers ...
  • Guy Sips
  • Michiel Declercq
  • Ruben Devos
  • Thomas Couvreur
  • Wim Hoste

Morning Note: BESI NA, BRNL NA, CRBN NA, OPTI BB , KPN NA, MTLS US, PROX BB, QFG BB

BESI: Q1 impacted by shipm. delays, Q2 outlook a tad soft
Brunel International: Strong EBIT update, upgrade to Buy
Corbion: 1Q adj EBITDA beat of 5%, FY sales guidance upped
Crescent: Took important steps to complete its turnaround
KPN: In line results, fiber favourably impacting KPIs
Materialise: New opportunities now the curve flattened
Proximus: Headline results a tad better, operational KPIs mixed
Quest for Growth 1Q21 NAV jumps 8.1% to € 9.88 ps
Underlyings
BE Semiconductor Industries N.V.

Brunel International N.V.

Accrued employee expensesBrunel is a global provider of business services that specializes in the flexible placement of professionals in the fields of Engineering, IT, Legal, Finance, Insurance & Banking and Energy. Co. provides such specialists through a range of staffing, project management, recruitment and consultancy services. Co. serves the world market for professional staffing and recruitment services from two main perspectives. On the one hand, Co. aims its services at specific supra-regional business lines. On the other hand, Co. focuses on specific countries such as The Netherlands, Germany, Belgium and Canada.

Corbion NV

Corbion is an internationally operating company engaged in the development, production, sale and distribution of bakery supplies and food ingredients. Co. is engaged in the Bakery Supplies and Lactic Acid business. Co.'s operations are divided into two segments: Bakery operations and Lactic acid operations. Co.'s Bakery operations comprise the development, production and sale of bakery ingredients and products. Co.'s Lactic acid operations involve the production of lactic acid and lactic acid derivatives which are used in food, pharmaceutical and technical products. Co. operates mostly in Europe and North America. Co.'s brands are Waldkorn, Kate's cakes, Purac, Carel, MeisterMarken.

Crescent

Option is a supplier of cellular gateways and a solution provider for the machine-to-machine (M2M) space. Co. has five operating segments: Devices & Solutions, which produces USB devices, routers as well as the end to end service offerings; M2M, which includes Co.'s device, called CloudGate; Embedded & Solutions, which is engaged in the production of embedded devices or module offerings and associated integration and certification services; License, which relates to license deals, closed with third parties; and Other, which includes the connection manager software business and mobile security solutions.

Materialise ADS

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.

Provider
KBC Securities
KBC Securities

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

 

Analysts
Bart Cuypers

Guy Sips

Michiel Declercq

Ruben Devos

Thomas Couvreur

Wim Hoste

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