KBC Securities - P1 | ResearchPool

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KBC Securities

bc user

P1

D MMM YYYY

15/04/2021 137 EN

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KBC Securities

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

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Other Reports from KBC Securities

Guy Sips ... (+3)

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Melexis In rough weather, exaggeration only deepens the valley

Melexis enters 2026 with a message that is far from triumphant: the recovery is happening, but it remains “an uneven recovery”. 4Q25 delivered growth, yes—but only just—and once again China dictated the rhythm with swings that overshadow structural progress. We updated our model taking into account management insists that FY26 will mark the start of margin improvement, and while the yield normalization story is credible, it does little to offset the uncomfortable reality of flat sales in 1Q and 1H. Seasonality, annual pricing resets, and shifting EV incentives are real factors—but they also ...

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P1

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

Morning Notes : LOTB BB, MELE BB, XFAB FP

Lotus Bakeries FIRST LOOK : Three Continents, One Momentum: Lotus Turns Up the Heat

Melexis In rough weather, exaggeration only deepens the valley

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