Report
Thijs Berkelder

Ackermans & Van Haaren : Strategy update required

>Strong core versus weak non-core results - H1 results up 17%. AvH has improved its 24H1 reported net result by 17% y-o-y to € 200.4m (AAOB € 218m post results listed subsidiaries), equivalent to an EPS of € 6.13 per share, and up from € 5.16 per share in 23H1. Key drivers: DEME and Private Banking. The Contribution from AvH’s core segments rose by 50% to € 224.2m (AAOB € 215.0m post results listed subsidiaries), with DEME yesterday clearly beating all analyst e...
Underlying
Ackermans & van Haaren NV

Ackermans & Van Haaren is an investment company. Co. operates in five sectors: Marine Engineering & Infrastructure, which includes DEME NV, a dredging and marine company; Private Banking, which includes BDM NV - Continentale Verzekeringen NV (ASCO NV), which focuses on marine and industrial insurance via brokers; Real Estate, Leisure & Senior Care, which includes Extensa Group NV, a real estate developer; Energy & Resources, which includes Telemond Group, a supplier to the crane and automotive industry; and Development Capital, which is engaged in ICT and engineering, retail and distribution, real estate development, and media and printing.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Thijs Berkelder

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