reports
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Wim Lewi
- David Vagman
- CFA
- Maxime Stranart
Agfa-Gevaert/2Q24 EBIT beat, DP&C performing strongly/HOLD
Following Agfa-Gevaert's 2Q24 results we reiterate our HOLD and cut our target price from €1.6 to €1.2. We still struggle to see a clear and sustainable path for profitability and FCF generation in the short term, arguing that several restructuring initiatives must be successfully implemented before this can happen. We see the potential closing of the divestment of Offset Solutions as well as the continued growth of Zirfon as two key positives for the longer term. We believe all this is already ...
- ING Helpdesk
- Guy Sips
- Kristof Samoy
- Thomas Couvreur
- Guy Sips
Agfa FIRST LOOK - Good quarter but focus will be on sale of Offset Sol...
Following a seasonally weaker 1Q24, 2Q24 revenues remained stable at 286m (beating our €270 and CSS € 285m) based on the resurgence of sales for the Digital Printing Solutions growth engine. Agfa indicated that the Green Hydrogen Solutions business continued its top line growth, while HealthCare IT sales started to pick up following the weak first quarter. The traditional film activities continued to be under pressure from the weakness in the electronics market and the new central procurement pr...
The Agfa-Gevaert Group in Q2 2024: solid quarter, powered by growth en...
The Agfa-Gevaert Group in Q2 2024: solid quarter, powered by growth engines - regulated information - inside information Regulated information – Inside information August 28, 2024 - 7:45 a.m. CET The Agfa-Gevaert Group in Q2 2024: solid quarter, powered by growth engines HealthCare IT: Highest ever quarterly order intake recorded: 22% increase in the 12 months rolling order intake versus the year before, mainly based on cloud-related contracts Digital Print & Chemicals: Continuous double digit growth for Green Hydrogen SolutionsDigital...
De Agfa-Gevaert Groep in het tweede kwartaal van 2024: degelijk kwarta...
De Agfa-Gevaert Groep in het tweede kwartaal van 2024: degelijk kwartaal, aangedreven door de groeimotoren - gereglementeerde informatie - voorkennis Gereglementeerde informatie – Voorwetenschap 28-08-2024 - 7:45 uur CET De Agfa-Gevaert Groep in het tweede kwartaal van 2024: degelijk kwartaal, aangedreven door de groeimotoren HealthCare IT: Hoogste order intake ooit per kwartaal: 22% stijging in 12 maanden lopende order intake tegenover het voorgaande jaar, vooral op basis van cloud-contracten Digital Print & Chemi...
Crescent NV: 1 director
A director at Crescent NV bought 23,809,524 shares at 0.010EUR and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Thomas Vranken
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Wim Lewi
- Guy Sips
- Thomas Couvreur
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: 1Q24 Preview. ABN AMRO: Press reports on sale of French Life Neuflize JV with AXA. Agfa-Geveart: A miss on every line. ASR: Dutch residential rental income risk insignificant. B&S Group: Solid start to the year, costs under control. DEME Group: 1Q solidifies FY24 revenue outlook. GBL: Accelerating its share buybacks. Just Eat Takeaway.com: M&A appetite. OCI: Improving 1Q24 performance at RemainCo assets, strategic update due on 2Q24
- Guy Sips
- Jacob Mekhael
- Sharad Kumar S.P
- Wim Hoste
- Guy Sips
Agfa FIRST LOOK: Weak start of the year, full year outlook maintained
As Agfa indicated before, the first quarter was very soft, even (much) softer than we and CSS expected (250m sales versus our and CSS €277m/€ 276m) and Adj. REBITDA of € 2m and 1Q24 REBIT of €-9m (KBCSe € 2.5m, CSS € 1m). As a result we lower our rating to Accumulate while maintaining our € 2 TP as for FY24, Agfa expects a continuation of the trends seen in the previous year, with continued growth for the growth engines and further profitability improvements. The slow start to the year is expect...
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year o...
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained - regulated information Regulated information – May 14, 2024 - 7:45 a.m. CET The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained HealthCare IT: Soft quarter following a strong Q4 2023Quarter-on-quarter improvement expected – stronger second half versus first half of the year Digital Print & Chemicals: Green Hydrogen Solutions business continued to grow substantially – ZIRFON plant project will be financed t...
De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start va...
De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start van het jaar, vooruitzichten voor volledig jaar behouden - gereglementeerde informatie Gereglementeerde informatie – 14-05-2024 - 7:45 uur CET De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start van het jaar, vooruitzichten voor volledig jaar behouden HealthCare IT: Zwak kwartaal volgend op sterk 4de kwartaal van 2023Kwartaal-op-kwartaal verbetering verwacht – 2de jaarhelft zal sterker zijn dan de 1ste Digital Print & Chemicals: ...
- Laura Roba
Agfa-Gevaert - Slow start of the year, as anticipated
• Agfa's Q1 was even weaker than anticipated with sales being 8% below expectations and adj. EBIT going into negative territory• With operational gearing being negative, debt is returning on the balance sheet and now seems to result in Agfa announcing leasing as a way to hoard cash• Despite ST uncertainty, based on the expected positive earnings momentum, future growth prospects with growth engines starting to deliver and the upside to the current share price , we reiterate our BUY rating
- Laura Roba
Agfa-Gevaert - 2024 also to be H2-weighted - Q1 preview
In 2023, 42% of the EBITDA was delivered in Q4, reflecting the seasonality of the business. Management emphasized that growth in ‘24 will again be back-end loaded. Hence, we expect Q1 to be broadly in line with last year.Growth engines are expected to continue their progression in '24 with significant top-line and profitability growth in DPC. Profitability will continue to improve in Healthcare IT although we should not see a huge step up yet. Radiology, however, is not expected to recover ...
- Guy Sips
- Hilde Van Boxstael
- Thomas Vranken
- Wim Lewi
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