KBC Securities - SYENSQO (SYENS) Syensqo A new star is born

Report

KBC Securities

Wim Hoste

Syensqo A new star is born

Today marks the first listing day of Syensqo, the specialty-focussed chemicals businesses of the former Solvay group. Syensqo will be mainly run for growth while its strong balance sheet and modest dividend policy should provide ample funding. We forecast Syensqo to achieve a 6.4% underlying EBITDA CAGR over the next five years. The former Solvay group had a complex and somewhat incoherent activity portfolio which has dented valuation. We deem the separation could be the trigger to unlock the value. Our € 115 target price represents significant upside (38%) vs the technical reference price (of € 83.25), so we initiate coverage on Syensqo with a BUY rating.

11/12/2023 1 EN

Underlying

SYENSQO

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BE0974464977 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

Wim Hoste

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Syensqo - Participation notification by BlackRock Inc.

Syensqo - Participation notification by BlackRock Inc. Communiqué de pressePersbericht Regulated Participation notification by BlackRock Inc. Brussels, Belgium – February 04, 2026 - 08:30 CET According to Belgian transparency legislation (Law of May 2, 2007), BlackRock Inc. (12 Throgmorton Avenue, London EC2N 2DL, UK) recently sent Syensqo the following transparency notifications indicating that it crossed the threshold of 3%. Here is the summary of the moves: Date on which the threshold was crossedVoting rights after the transactionEquivalent financial instruments after the transaction...

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KBC Securities

Morning Notes : ACKB BB, ARGX BB, ATEB BB, UMI BB, SYENS BB

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Syensqo A new star is born

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

Syensqo - Participation notification by BlackRock Inc.

Syensqo 2026 Financial Calendar

Morning Notes : ACKB BB, ARGX BB, ATEB BB, UMI BB, SYENS BB

Umicore Feedback FY25 results conference call

Morning Notes : COFB BB, GLPG NA, UMI BB

Cofinimmo FY25 results above expectations, guidance below

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