Report
Joachim Vansanten ...
  • Michiel Declercq
  • Ruben Devos
  • Thomas Couvreur
  • Wim Hoste

Morning Note: DSM NA, GIMB BB, SHUR BB, SOLV BB, SOLB BB, TWEEKA NA, WKL NA, XFAB FP

DSM: 1Q EBITDA +13%, FY guidance slightly upped
Gimv: Increases stake in GPNZ
Shurgard: 1Q21 Results fully in line with expectations
Solvac: New TP following Solvay’s positive 1Q21
Solvay: 1Q EBITDA 10% better than expected
TKH Group: HY outlook upgrade, earlier recovery in Tire Building
Wolters Kluwer: 1Q21: revenue still muted; cost saving focus continues
X-FAB: High-speed turnaround
Underlyings
Gimv NV

GIMV is a listed investment company, specializing in private equity and venture capital and active in small and medium buyouts, growth financing and technology investments. Co. is also present with technology investments across Europe and in Israel, Japan and the USA. Co. invests in ICT (Technology), environmentally friendly technology (Cleantech) and Life Sciences.

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.

Shurgard Self Storage SA

Shurgard Self Storage SA, formerly known as Shurgard Self Storage Europe SARL, is a Luxembourg-based company, which serves as a provider of warehousing and self-storage services. The Company operates a number of self-storage facilities in Europe with over 200 self-storage centers. Shurgard's activity is organized around two areas: leasing of storage spaces for companies and individuals and other related services. Additionally, the Company also offers self-storage insurance specially designed for its clients. Apart from the Luxembourg, the Company also operates in the Netherlands, France, Sweden, the United Kingdom, Belgium, Germany and Denmark. The company is partly owned by Public Storage, an owner and operator of self-storage facilities with a range of stores in the United States.

SOLVAC S.A.

Solvac is a holding company. Through its subsidiary, Solvay, Co. is active in Chemistry. Co. manufactures and sells chemicals and plastics products. Its operations can be divided into two business segments: Chemicals and Plastics. In the Chemicals Sector, Co.'s produts are divided into four clusters which are the Minerals cluster; the Electrochemistry and Fluorinated Products cluster; the Oxygen cluster; and the Organic cluster. In the Plastics sector, Co.'s products can be divided into 2 different clusters which are Specialties and Vinyls. The Specialties cluster comprises Specialty polymers and Inergy Automotive Systems. The Vinyls cluster comprises Vinyls and Pipelife.

Solvay SA

Solvay is engaged in chemical and plastic businesses worldwide. Co. offers chemical products such as advanced materials, barium strontium, calcium chloride, caustic soda, chlorinated products, fluor, peroxygen products, polyglycerols, precipitated calcium carbonate, soda ash, and sodium bicarbonate. It also provides specialty polymers, such as Spire ultra polymers, Solviva biomaterials, and sulfone polymers. Co. structures its activities around five operating segments: Advanced Formulations, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, each with its own specific business model and each comprised of Global Business Units (GBUs).

Wolters Kluwer NV

Wolters Kluwer operates through four divisions: Health is a global provider of information for medical and health professionals; Financial & Compliance Services is a U.S. provider risk management, compliance, finance, and audit professionals the services they need to optimize risk and business performance, and ensure compliance with local, regional, and global regulation; Tax & Accounting is a provider of tax, accounting, and audit information, and services; and Legal & Regulatory provides customers with expert content, software, and services in the areas of law, business, and regulatory compliance in Europe, North America and Asia Pacific.

X Fab Silicon Foundries SE

Provider
KBC Securities
KBC Securities

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

 

Analysts
Joachim Vansanten

Michiel Declercq

Ruben Devos

Thomas Couvreur

Wim Hoste

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