Morning Notes : BAR BB, COFB BB, FAGR BB, GLPG NA, IBAB BB, DEME BB, N...

: BAR BB, COFB BB, FAGR BB, GLPG NA, IBAB BB, DEME BB, NXFIL NA, ENRGY BB

Umicore EU looks set to abandon combustion engine ban in 2035

Based on various press articles, it seems increasingly likely that the European Union is to abandon the earlier agreed ban on new combustion engine-based passenger cars by 2035, whilst new legislation would still require a significant reduction of tailpipe emissions. Any loosening of legislation would probably be good news for Umicore's Catalysts business, with European ICE Light duty Automotive Catalysts' revenue representing c. 28% of total ICE light duty Automotive Catalysts' revenue. We awai...

Local Champions Mid Cap Conference Book 11.12.2025

This conference book is your guide to our annual Local Champions Mid Cap Conference set to take place on Thursday, 11 December 2025 at our historic building at Grand Place in Brussels. This event offers the possibility to have one-on-one meetings and/or attend small group sessions with the top management and/or IR of the following companies: BARCO | BEKAERT | DECEUNINCK | DEME | EVS | IBA | JENSEN GROUP | MATERIALISE | ONTEX | PROXIMUS | RECTICEL | XFAB

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 11/27/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 27/11/2025

Morning Notes : CRBN NA, GIMB BB, HAL NA

: CRBN NA, GIMB BB, HAL NA

HAL Trust : Better than expected Q3, plus further expanding in constru...

Barco/More modest improvement/BUY

We maintain our Buy rating, reflecting our continued confidence in Barco's positioning within its niche markets and the ongoing enhancements to its product lineup. However, after the company communicated more modest long-term growth and margin objectives at the CMD, we have reduced our forecasts and, as a result, lowered our target price to €16.0 (previously €17.5).

Morning Notes : AGFB BB, AKZA NA, GBLB BB, UMI BB, MAAT FP

: AGFB BB, AKZA NA, GBLB BB, UMI BB, MAAT FP

Morning Notes : KIN BB, ONTEX BB, UCB BB, UMI BB, DEME BB

: KIN BB, ONTEX BB, UCB BB, UMI BB, DEME BB

Umicore FIRST LOOK: Silicon-anodes JV with HS Hyosung Advance Material...

After more than a decade of R&D efforts on developing silicon carbon composite anode materials for EV batteries, Umicore now believes its technology is ready for industrialization & commercialization and has announced its intention to create a JV with HS Hyosung Advanced Materials. Umicore will retain a minority stake in the JV, which will allow the group to limit expenditure for the roll-out of its anode technology. This approach is very much in sync with the approach taken for the cathode acti...

Morning Notes : BAR BB, BFIT NA, EXM BB, HYL BB, UCB BB, JDEP NA, MRUS...

: BAR BB, BFIT NA, EXM BB, HYL BB, UCB BB, JDEP NA, MRUS US

Barco Go deep, Go broad

"Go deep, Go broad" is a strategy that involves both expanding into new markets ("go broad") and strengthening your presence and offerings within existing markets ("go deep"). It's a two-pronged approach to growth, seen in business strategies like those used by Barco during its CMD, which seeks to scale a business by increasing the reach to go to the mid-segment while simultaneously expanding its hardware leadership in certain segments into software growth driven by an AI-powered transformation....

Benelux Morning Notes

Aalberts: 3Q in line, FY margin now low end of guidance. Acomo: Going from strength to strength. Ahold Delhaize: New $860m distribution centre for Food Lion. Azelis: Weak 3Q25 as broadly expected, CFO to step down. Barco: Press release ahead of CMD. BE Semiconductor Industries: 3Q25 Results – Delivered on order intake. Econocom: 3Q25 organic growth down to c.3.4%, full year growth guidance confirmed. Heineken: EverGreen 2030. Kinepolis: Weak 3Q25 as expected, with Netherlands at ...

Morning Notes : AALB NA, AD NA, BAR BB, BESI NA, HEIA NA, KIN BB, AZE ...

: AALB NA, AD NA, BAR BB, BESI NA, HEIA NA, KIN BB, AZE BB, SHUR BB, ONWD BB

Barco CMD titled “Eye on Tomorrow”

During today's CMD titled “Eye on Tomorrow” Barco will share its financial outlook, reconfirming its guidance for FY25, expecting a topline and EBITDA margin for FY25, above the level of FY24. Looking ahead to FY28, Barco targets to grow towards €1.1bn in sales (KBCSe € 1.11bn), 15% recurring revenues, and a 15% EBITDA margin (KBCSe 14.4%), supported by new product introductions, software-driven growth, and operational efficiency. Recall we are at respectively 14.0%, 15.8%, 14.0% FY28E EBITDA-ma...

Morning Notes : AGFB BB, EXM BB, FLOB BB, GLPG NA, GIMB BB, AUTL US

: AGFB BB, EXM BB, FLOB BB, GLPG NA, GIMB BB, AUTL US

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/15/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 15/10/2025

Barco NV : A relatively unexciting quarter