Report
Bart Cuypers

TINC - KBC Securities Company Note 20.12.2018: Infrastructure, not as easy as you TINC

Although competition is fierce in the current infrastructure market, we are confident that TINC can maintain its stable dividend policy. We expect the company to shift its focus more towards demand-driven infrastructure in the future, as it can fully leverage its competitive advantages in this more complex segment of the infrastructure market. We reiterate our Accumulate rating with a €13.0 (from € 13.5) TP.
Underlying
TINC Comm. VA

TINC Comm VA. Tinc Comm VA, also known as TINC, is a Belgium-based company focusing on investments in Infrastructure Asset Companies holding capitalintensive Infrastructure Assets providing services and generating cash flows of a long term sustainable nature. The Initial Investment Portfolio of the Company includes investments in over 10 Infrastructure Asset Companies holding underlying Infrastructure Assets in public private partnerships (PPP), energy and real assets in Belgium and the Netherlands, including Strorm and Brabo 1, among others. It operates through Storm Holding 4 NV.

Provider
KBC Securities
KBC Securities

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Analysts
Bart Cuypers

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