Report
Bart Cuypers ...
  • Cedric Duinslaeger
  • Guy Sips
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 24-7-2018 CYAD:BB, DSM NA, MTLS US, RAND NA, SOF BB

Celyad: CYAD-101 FDA filing accepted, next step FIH 4Q18
DSM: Preview 2Q results
Materialise: Announces Pricing of Public Offering at $ 13
Randstad: Slowing organic growth yet good margin result
Sofina: NAV at € 183 p.s., sale Flipkart stake in 3Q18
Telecom: Belgian gov’t decides on new entrant
Underlyings
Celyad Oncology

Celyad is engaged in engineered cell therapy treatments with clinical programs initially targeting indications in cardiovascular disease and oncology. Co. provides C-CATHez, an injection catheter that delivers bio therapeutic agents into the myocardium. Co.'s main product is C-Cure, which is in Phase III clinical trials for the treatment of chronic heart failure secondary to ischemic cardiomyopathy. Co.'s drug product candidates are autologous cell therapy treatments. In autologous procedures, a patient's cells are harvested, selected, reprogrammed and expanded, and then infused back into the same patient.

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.

Materialise ADS

Randstad NV

Randstad is a global staffing and recruitment company, providing various solutions in the human resources (HR) services space. Co.'s services include regular temporary staffing and permanent placement of candidates. In addition, Co. provides several other HR solutions, such as Recruitment Process Outsourcing (RPO), Managed Services Programs (MSP), payroll services, and outplacement. Co. provides four distinct service concepts: Staffing, Inhouse Services, Professionals and HR Solutions.

Sofina SA

SOFINA is an investment company whose portfolio consists of shareholdings in various companies. Co. manages a portfolio of long-term and short-term investments. Its portfolio comprises investments in companies which are active in sectors such as: Energy and Services (GDF Suez, Suez Environnement, bioMerieux and Exmar); Retail (Colruyt, Delhaize); Consumer goods (Danone, Rapala, B & W Group, and Chapoutier); Satellite operators (SES); Finance Companies (Eurazeo, Caledonia, Luxempart, RAB Capital); Industry (Petit Forestier, Landis + Gyr, Carbone Lorraine and Deceuninck) and Alternative assets (Private equity, Hedge funds).

Provider
KBC Securities
KBC Securities

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Analysts
Bart Cuypers

Cedric Duinslaeger

Guy Sips

Lenny Van Steenhuyse

Ruben Devos

Sandra Cauwenberghs

Wim Hoste

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