ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 02/02/2026

ODDO : Monthly Jan’2026: Off to the races

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/02/2026

Cementir Holding FY25 Recurring EBITDA +1%, guidance calls for 0-5% growth in FY26

FY25 Non-GAAP EBITDA jumped by 15% in absolute terms or by +1% on a recurring base (excluding incidentals). FY26 guidance calls for Recurring EBITDA to be flat to up c.5%, despite severe winter conditions in ao Nordics & Baltics at the start of the year. Cementir's diversified footprint with some key regional strongholds like Denmark and Belgium along with a deeply vertically integrated model in those regions allows to realize solid profitability, as witnessed by the current solid Recurring EBITDA margins (24.8%). A sizeable net cash position gives Cementir significant firepower for acquisitio...

Home Invest Belgium FY25: Strong Underlying Performance Overshadowed by UCL Uncertainty

Home Invest reports results in line with our expectations at €1,21 EPRA EPS. It guides €1,23 EPRA EPS in FY26, slightly ahead of our expectation of € 1,20. At 1H25 results, Home Invest confirmed our thesis that the building right in Louvain-La-Neuve will not get renewed. As of the announcement Home Invest started to underperform (-7,1%) the EPRA index (+8,6%). The UCL has time until June 2026 to respond. This headwind will keep EPRA EPS growth muted, despite the stellar operational results: 98,2% occupancy, +4,0% like-for-like rental growth of which 140 bps rent reversion and +33,3m fair valu...

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...