KBC Securities - Ekopak (EKOP BB) Morning Note: EKOP BB, MITRA BB

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KBC Securities

Lenny Van Steenhuyse ...

Olivier Vandewoude
Thomas Vranken

Morning Note: EKOP BB, MITRA BB

Ekopak: 1H21: Don’t rush things that need time to grow
Mithra: H1 conf call: strong focus on Estelle & Donesta

27/09/2021 1 EN

Underlying

Ekopak

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Provider

KBC Securities

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

See profile

Analysts

Lenny Van Steenhuyse

Olivier Vandewoude

Thomas Vranken

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On Thursday 9 June, we organise our first New Horizon Conference in London. Following listed companies will be presented: • ASML • Agfa • Arcadis • Barco • Biotalys • D'Ieteren • Ebusco • Ekopak • Hyloris • IBA • Mithra • TKH We give a summary of our view on the companies we welcome, with key investment metrics that can serve as a guide during your meeting(s).

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: EVS BB, EXM BB, HAL NA, IVA FP, XIOR BB, NXFIL NA

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Guy Sips

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Xior Balance Sheet recovery is priority nr1, for real

Xior explained that patching up the balance sheet takes priority over EPS growth. Despite rising debt costs, the EPRA EPS stabilised with new deliveries, strong lfl growth and some exceptionals. Thanks to a strong underlying market, Xior opts not to take low-ball bids for its large assets/projects. It also extended the bridge loan to 3Q24. Selling smaller non-core assets takes more time, but will eventually push the LTV% below 50%. The next 2 years will show slow EPS growth, but the LTV% decline should reduce the price gap to NTA. As the company largely held on to its original pipeline/landban...

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Morning Note: EKOP BB, MITRA BB

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

Morning Note: EKOP BB, GIMB BB, LOTB BB, SIP BB, TERB BB, UMI BB

KBCS New Horizon Conference Book AGFB BB, ARCAD NA, ASML NA, BAR BB, BTLS BB, DIE BB, EKOP BB, HYL BB, IBAB BB, MITRA BB, TWEKA NA

Morning Note: ASC BB, AZE BB, BTLS BB, COFB BB, EKOP BB

Morning Notes : EVS BB, EXM BB, HAL NA, IVA FP, XIOR BB, NXFIL NA

EVS Broadcast Equipment The pipeline looks promising to ensure a strong FY24

Xior Balance Sheet recovery is priority nr1, for real

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