KBC Securities - EKOPAK NV (EKOP) Ekopak FRN – feedback analyst call FY23 results

Report

KBC Securities

Kristof Samoy

Ekopak FRN – feedback analyst call FY23 results

Ekopak delivered a good operational performance over FY23 in line with expectations and the outlook drawn for 2024 matches our revenue forecasts. Below are key take-aways from the analyst call with CEO and CFO. Our first read of the press release made to much of the statement on strategy finetuning: the company has no intentions to do acquisitions in the short term.

25/03/2024 1 EN

Underlying

EKOPAK NV

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BE0974380124 Euronext Brussels Belgium

Provider

KBC Securities

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

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Analysts

Kristof Samoy

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KBC Securities

Ekopak Ready for a new start

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May 13, 2025 May 13, 2025 1 EN

KBC Securities

Morning Notes : ENX FP, GLPG NA, HYL BB, SOLB BB, TWEKA NA, EKOP BB, ALFEN NA

: ENX FP, GLPG NA, HYL BB, SOLB BB, TWEKA NA, EKOP BB, ALFEN NA

May 13, 2025 May 13, 2025 1 EN

KBC Securities

Morning Notes : IMMO BB, RECT BB, EKOP BB, MAAT FP

: IMMO BB, RECT BB, EKOP BB, MAAT FP

April 29, 2025 April 29, 2025 1 EN

Morning Notes : AED BB, IMCD NA

: AED BB, IMCD NA

June 6, 2025 June 6, 2025 1 EN

Livio Luyten

Livio Luyten

Holdings Report May 2025 KBCS Holdings Universe Returns 2.2% During May 2025

1M Performance - Absolute: During May'25 (1M period), the KBCS Holdings Universe posted a return of +2.2% which was mainly driven by multi-asset holdings (+2.6%) while single-asset holdings posted a smaller return of +1.2%. The 3 top performers during the period were Gimv (+12.1%), KBC Ancora (+11.1%) and Ackermans & van Haaren (+4.1%) while the 3 worst performers were Solvac (-2.8%), Groupe Bruxelles Lambert (-0.8%) and Heineken Holding (-0.3%). YTD Performance - Relative: On a YTD basis (as of end-May'25), the KBCS Holdings Universe returned +7.6% mainly driven by single-asset holdings (+11...

June 6, 2025 June 6, 2025 1 EN

Wim Lewi

Wim Lewi

TINC Rights Issue, share price starts trading ex-right today

Yesterday morning 8h00, TINC announced a rights issue. This morning the shares start trading ex-right. Based on the closing price of €10.92, the TERP amounts to €10.525 per share, this indicates a theoretical right value of €0.395. The discount of the subscription price to NAV (ex-dividend) amounts to 25.4%. The company also reported 1Q25 results, which we discuss briefly below. We note that TINC increased its net debt position to 101.3m. We maintain our rating at Suspended as KBC Securities acts as Joint Global Coordinator.

June 5, 2025 June 5, 2025 1 EN

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Ekopak FRN – feedback analyst call FY23 results

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

Ekopak Ready for a new start

Morning Notes : ENX FP, GLPG NA, HYL BB, SOLB BB, TWEKA NA, EKOP BB, ALFEN NA

Morning Notes : IMMO BB, RECT BB, EKOP BB, MAAT FP

Morning Notes : AED BB, IMCD NA

Holdings Report May 2025 KBCS Holdings Universe Returns 2.2% During May 2025

TINC Rights Issue, share price starts trading ex-right today

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