reports
- Thijs Berkelder
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - Date1
We initiate coverage of Heijmans, a contractor focused on the Dutch market, with an Outperform rating and a TP of € 36.5 (DCF based). The Dutch residential market is finally recovering, and we believe Heijmans is well-positioned to benefit due to its land bank and property development arm, driving up revenues while EBITDA margins are expected to exceed 8.5% in the Living unit. Heijmans is also benefitting from strong demand from the infrastructure and energy markets, allowing for soli...
PBB DEUTSCHE PFANDBRIEFBANK AG
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ITP INTERPARFUMS
SDF K+S AG
NEX NEXANS SA
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ADN1 ADESSO AG
GNFT GENFIT SA
PAT PATRIZIA AG
SAX STROEER SE & CO. KGAA
NVG NAVIGATOR COMPANY SA
ASS APPLUS SERVICES S.A.
S92 SMA SOLAR TECHNOLOGY AG
CLA CLARANOVA SE
SRAIL STADLER RAIL AG
KTA KNAUS TABBERT
UPG UNIFIEDPOST GROUP
DEME DEME GROUP NV
AF AIR FRANCE - KLM
- Thijs Berkelder
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 11/14/2024
We initiate coverage of Heijmans, a contractor focused on the Dutch market, with an Outperform rating and a TP of € 36.5 (DCF based). The Dutch residential market is finally recovering, and we believe Heijmans is well-positioned to benefit due to its land bank and property development arm, driving up revenues while EBITDA margins are expected to exceed 8.5% in the Living unit. Heijmans is also benefitting from strong demand from the infrastructure and energy markets, allowing for soli...
PBB DEUTSCHE PFANDBRIEFBANK AG
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ITP INTERPARFUMS
SDF K+S AG
NEX NEXANS SA
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ADN1 ADESSO AG
GNFT GENFIT SA
PAT PATRIZIA AG
SAX STROEER SE & CO. KGAA
NVG NAVIGATOR COMPANY SA
ASS APPLUS SERVICES S.A.
JST JOST WERKE AG
S92 SMA SOLAR TECHNOLOGY AG
CLA CLARANOVA SE
SRAIL STADLER RAIL AG
KTA KNAUS TABBERT
UPG UNIFIEDPOST GROUP
DEME DEME GROUP NV
AF AIR FRANCE - KLM
- Julian Dobrovolschi
- Nicolas Thorez
Unifiedpost Group : Q3 2024 revenue concerning, but non-core divestmen...
>Weak trading update, digital business showing material deceleration in Q3 - Unifiedpost came with a weak trading update this morning. 9M 2024 revenue (cont. operations) were € 72.3m slightly above same period last year. However, if we zoom into the Q3 2024 numbers alone, group revenue was € 23.1m which is well below our estimates and declining 11.1%. Given the 9M 2024 revenue development in the cont. operations, we would expect cuts to revenue in the range of high-si...
Unifiedpost continues to report double-digit growth in its digital ser...
Unifiedpost continues to report double-digit growth in its digital services business REGULATED INFORMATION Unifiedpost continues to report double-digit growth in its digital services business La Hulpe, Belgium – November 14, 2024, 7:00 a.m. CET – [REGULATED INFORMATION] Unifiedpost Group SA (Euronext: UPG) (Unifiedpost), a leading provider of integrated business communications solutions, today announced its results for 9M 2024. Digital service revenue reported organic growth of 10,0% YoY in 9M 2024. 9M 2024 Highlights – Continuing operations1 Reported 10% YoY o...
Unifiedpost Group announces changes in Leadership team and Board compo...
Unifiedpost Group announces changes in Leadership team and Board composition INSIDE INFORMATION La Hulpe, Belgium – 23 October 2024, 7:00 am. CET – INSIDE INFORMATION - Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Company), a leading provider of integrated business communications solutions, announces the appointment of Nicolas de Beco as its CEO, effective December 1, 2024. Founder and current CEO Hans Leybaert will transition to Executive Chairman. Additionally, the Board has co-opted two new members: Crescemus BV, represented by Pieter Bourgeois, and PDMT Investments LLC, ...
Unifiedpost Group announces update on Francisco Partners senior facili...
Unifiedpost Group announces update on Francisco Partners senior facility loan repayment plan INSIDE INFORMATION Unifiedpost Group announces update on Francisco Partners senior facility loan repayment plan La Hulpe, Belgium – 14 October 2024, 7:00 am. CET – Inside Information - Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost), a leading provider of integrated business communications solutions, will use the proceeds from divestments to fully repay its €100 million Francisco Partners senior facility loan. Key highlights: On 7 March 2022 Unifiedpost entered into a Senior...
- Anthony Dick
- Emira Sagaama
- Marc Lavaud
- Michael Foundoukidis
- Youssef Besbes
ODDO BHF Small & MIDCAP MORNING NEWS - 10/03/2024
DEME, the world’s leading offshore wind installation company and top 3 in the global dredging market, delivered a better than expected H1. Its share price, however, corrected by 15-20% as DEME’s outlook was weaker than expected. In this report, we explain there are three good reasons why DEME management is holding its cards at its chest: (1) US elections; (2) Gaza conflict, and (3) the still uncertain usage of its € 1.0-1.5bn war chest. Expecting DEME to not only use the war chest for...
- Anthony Dick
- Emira Sagaama
- Marc Lavaud
- Michael Foundoukidis
- Youssef Besbes
ODDO BHF Small & MIDCAP MORNING NEWS - 03/10/2024
DEME, the world’s leading offshore wind installation company and top 3 in the global dredging market, delivered a better than expected H1. Its share price, however, corrected by 15-20% as DEME’s outlook was weaker than expected. In this report, we explain there are three good reasons why DEME management is holding its cards at its chest: (1) US elections; (2) Gaza conflict, and (3) the still uncertain usage of its € 1.0-1.5bn war chest. Expecting DEME to not only use the war chest for...
- Julian Dobrovolschi
- Nicolas Thorez
Unifiedpost Group : Light at the end of the tunnel, upgrading to Outpe...
>Recent corporate developments boosting our conviction on the name - To reach a healthy financial position and achieve FCF break-even by 2025, we believe Unifiedpost must: 1) grow its higher-margin core digital services business at a low double-digit rate, 2) maintain tight cost control, and 3) pay off the expensive Francisco Partners debt in full. Following the recent divestment of non-core businesses, we think this is achievable and have become more bullish on the s...
Publication of a transparency notification
Publication of a transparency notification Press release: Regulated Information Publication of a transparency notification(Article 14, first paragraph, of the Law of 2 May 2007 on the disclosure of major holdings) La Hulpe (Belgium), September 17 2024, 7.00 a.m. CET – Regulated Information – Unifiedpost Group SA (Euronext: UPG) (Unifiedpost or the Company) has received a transparency notification from NN Group N.V. dated 13 September 2024. This transparency notification indicates that as a result of the acquisition of shares on 12 September 2024 NN Group N.V. now (through subsidiaries...
Jefacture.com receives its official registration number for mandatory ...
Jefacture.com receives its official registration number for mandatory invoicing Unifiedpost has obtained its official registration number for Jefacture.com with the PDP (Partner Dematerialization Platform) in France. Jefacture.com is an e-invoicing platform developed by Unifiedpost for ECMA, which enables French chartered accountants to transition their clients ahead of mandatory e-invoicing legislation in 2026. Unifiedpost partnered via a joint venture (set up in 2022) with the Expert-Comptable Media Association (ECMA), the French organisation responsible for providing digital t...
- Julian Dobrovolschi
- Nicolas Thorez
Unifiedpost Group : Growing core business 9% yoy and cleaning up the b...
>The 1H24 results. 9.1% growth in recurring digital service revenues. - Given all the changes in scope (divestments) its difficult to truly compare the continuing business with historical numbers. However according the company the continuing businesses grew nicely. Digital services revenue growth of 10,9% y/y of which 9.1% for the Recurring and 32% for the non-recurring businesses. Excluding all divestments (21 Grams, FitekIN and ONEA), digital services revenue growt...
Unifiedpost continues its strategic focus on growing core digital serv...
Unifiedpost continues its strategic focus on growing core digital services alongside portfolio rationalisation REGULATED INFORMATION Unifiedpost continues its strategic focus on growing core digital services alongside portfolio rationalisation La Hulpe, Belgium – August 27, 2024, 7:00 a.m. CET – [REGULATED INFORMATION] Unifiedpost Group SA (Euronext: UPG) (Unifiedpost), a leading provider of integrated business communications solutions, presents its results for H1 2024. Digital Services revenue reported solid growth of 12,8% y/y, excluding the divestments of 21 Grams, FitekIN and O...
Unifiedpost Group announces the sale of the Wholesale Identity Access ...
Unifiedpost Group announces the sale of the Wholesale Identity Access business in the Netherlands – an opportunity for value crystallisation alongside an enhanced focus on core digital services INSIDE INFORMATION La Hulpe, Belgium – August 26, 2024, Midnight– [INSIDE INFORMATION] Unifiedpost Group (Euronext Brussels: UPG) (Unifiedpost), a leading provider of integrated business communication solutions, announces the signing of a binding term sheet (Term Sheet) with Your.World B.V. (Your.World) for the sale of its Wholesale Identity Access business in the Netherlands (the Transaction). ...
Unifiedpost Group Half Year 2024 Financial Results Webcast Invitation
Unifiedpost Group Half Year 2024 Financial Results Webcast Invitation La Hulpe, Belgium — 13 August 2024, 7:00 am. CET — Unifiedpost Group SA (Euronext Brussels: UPG) (“Unifiedpost, Group”), a leading provider of integrated business communications, will host a webcast on Tuesday, 27 August 2024, at 11:00 am CET for analysts and investors to discuss its financial results for the first half of 2024. To participate, please register using the following . A registration confirmation email containing a link to access the webcast will be sent to participants upon successful registratio...
Unifiedpost Payments Receives Authorisation from the National Bank of ...
Unifiedpost Payments Receives Authorisation from the National Bank of Belgium to Purchase Receivables La Hulpe, Belgium – 07 August 2024, 7:00 am. CET – Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Group), a leading provider of integrated business communications, today announced that its payment institute, Unifiedpost Payments SA, has successfully obtained authorisation from the National Bank of Belgium (NBB) to purchase receivables under its existing licence, which can be passported into the EU. This authorisation takes immediate effect and aligns with Unifiedpost’s digital ...
Unifiedpost Group closes the earlier announced divestment of FitekIN a...
Unifiedpost Group closes the earlier announced divestment of FitekIN and ONEA. Press Release - Inside Information La Hulpe, Belgium – 8 July 2024, 7:00 am. CET – Inside Information – Unifiedpost Group SA (Euronext Brussels: UPG) (“Unifiedpost, Group”), a leading provider of integrated business communications, today announces the successful closing of its previously announced divestment of the stand-alone products FitekIN and ONEA to Fitek Holding Oü, a company funded by Baltcap, for €7,2 million in cash. Fitek Holding Oü, funded by Baltcap, a Private Equity Fund in the Baltic States and ...
Unifiedpost Group announces the strategic decision to enhance the Boar...
Unifiedpost Group announces the strategic decision to enhance the Board composition and the resignation of AS Partners BV, represented by Stefan Yee, from his role as Chairman of the Board Press Release - Inside Information La Hulpe, Belgium – 8 July 2024, 7:00 am. CET – Inside Information - A selection procedure has been launched to strengthen the Board composition that aligns with evolving good governance standards and the company’s strategic goals as an international public company. Stefan Yee, representing AS Partners BV, announces his resignation as Chairman of the Board of Directors...
AMS AMS AG
SZG SALZGITTER AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
UPG UNIFIEDPOST GROUP
ARM ARM HOLDINGS PLC
AMS AMS AG
SZG SALZGITTER AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WOLF SOCIETE LDC SOCIETE ANONYME
ALKAL KALRAY SA
JEN JENOPTIK AG
UPG UNIFIEDPOST GROUP
ARM ARM HOLDINGS PLC
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