reports
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Wim Lewi
- Hilde Van Boxstael
- Thomas Couvreur
- Thomas Vranken
- Thomas Vranken
Hyloris FIRST LOOK: Pipeline extends into veterinary medicine
Hyloris adds a new asset to the pipeline that is geared toward veterinary medicine. HY-095 is long-acting injectable formulation of a well-known proton pump inhibitor for the treatment of equine gastric ulcer syndrome, allowing more reliable drug delivery and lower dosing frequency vs. existing orals. Together with its partner, Hyloris will fund development costs and manage clinical trials in exchange for a 90%/10% profit sharing. We reiterate our € 5 TP and Hold rating.
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Lewi
- ING Helpdesk
Benelux Morning Notes
Corbion: Swings and roundabouts. CTP: Good operational trends, guidance reiterated. dsm-firmenich: Another cheque from BASF. Euronav: 2Q beats expectations. KBC: 2Q well above, NII guidance up, ready for 3Q State Bond release of c.€22bn. SBM Offshore: Strong set of 1H24 results, more to come. TKH Group: 2Q is not going to be the quarter. Xior Student Housing: Positive portfolio revaluation
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Lewi
- Jacob Mekhael
Hyloris Governance overhang weighs down the case
Following the FSMA statements and outcome of the independent forensic investigation of the QliniQ transactions, Hyloris will initiate a transition process to a new CEO, and the CFO and CLO will step down. Last week, the stock resumed trading (-75% intraday) following publication of the 2023 annual report, which included a qualified opinion regarding the Pleco agreement. Additionally, the QliniQ transactions case has been referred to the public prosecutor's office. We took a step back to evaluate...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/30/2024
With regard to our list of recommended stocks, i) we are adding: adidas, Merck KGaA, Santander, Technip FMC, Unilever and Vivendi , ii) we are maintaining ASMi, Atlas Copco, AXA, Deutsche Boerse, GSK, Holcim, Inditex, Lonza, Sodexo, RELX and Rolls-Royce, iii) we are removing: BASF, Nemetschek, Nestlé and TUI AG. - ...
1COV COVESTRO AG
HEIA HEINEKEN NV
DBK DEUTSCHE BANK AG
RCO REMY COINTREAU SA
RXL REXEL SA
HEI HEIDELBERGCEMENT AG
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
BP. BP P.L.C.
SIK SIKA AG
KBX KNORR-BREMSE AG
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DSFIR KONINKLIJKE DSM N.V.
- Michael B. Schäfer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/07/2024
Au sein de notre liste de valeurs recommandées, i) nous faisons entrer : adidas, Merck KGaA, Santander, Technip FMC, Unilever et Vivendi, ii) nous maintenons ASMi, Atlas Copco, Axa, Deutsche Boerse, GSK, Holicm, Inditex, Lonza, Sodexo, RELX et Rolls-Royce, iii) nous faisons sortir : BASF, Nemetschek, Nestlé, TUI AG. - ...
1COV COVESTRO AG
HEIA HEINEKEN NV
DBK DEUTSCHE BANK AG
RCO REMY COINTREAU SA
RXL REXEL SA
HEI HEIDELBERGCEMENT AG
ANA ACCIONA SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
BP. BP P.L.C.
SIK SIKA AG
KBX KNORR-BREMSE AG
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
DSFIR KONINKLIJKE DSM N.V.
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Stefano Toffano
DSM-Firmenich : Improving momentum confirmed
>Good sequential progress in all divisions - dsm-firmenich’s Q2 24 results confirmed the company’s previous comments about improving business momentum. Easing end-markets pressures, stabilising (if not improving) destocking and pricing trends, and continued focus on self-help initiatives sustained earnings generation during Q2 24, building a stronger base for H2 24. Higher vitamin prices (a.o.) pushed ANH profitability higher, albeit from a very low base. Overall Q2 2...
- ING Helpdesk
- Wim Hoste
DSM-Firmenich FIRST LOOK: 2Q adj EBITDA +26% and a 3% beat, FY guidanc...
2Q adj EBITDA jumped by 26% y/y to € 513m and beat our and CSS forecasts by c 3%, being supported by synergies/savings and solid organic sales growth of 7%. Going forward, we anticipate more synergies/savings as well as support from improving vitamin prices. Dsm-firmenich increased FY24 adj EBITDA guidance from at least € 1.9bn to c € 2bn with our and CSS forecasts already in line with the new guidance. We remind that the recently announced mid term financial targets for the new scope (ie ex ANH...
- ING Helpdesk
Benelux Morning Notes
ASM International: 2Q24 preview, healthy fundamentals. BE Semiconductor Industries: 2Q24 preview, strong HB quarter ahead. CM.com: Preview 1H24. dsm-firmenich: The MEG-3® (without Jason Statham). DWS: 2Q24 preview. Ebusco: Preview - high 1H opex and low top line. Orange Belgium: Solid 1H24 beat, guidance lifted to slightly above previous range. Signify: 2Q24 preview - too early to see a recovery. Staffing: Manpower: 2Q24 beats, US still weak into 3Q24, Europe slightly better.
- Hilde Van Boxstael
- Thomas Couvreur
- Wim Hoste
- Hilde Van Boxstael
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Jacob Mekhael
Hyloris FIRST LOOK: Management step down after conclusion of forensic ...
Hyloris provided an update following completion of the independent forensic investigation with respect to the QliniQ transactions. While management dispute the findings of the independent forensic review, they have proposed to step down from their roles in the interest of the company. In addition, we welcome the board's decision to strengthen Hyloris' governance, which in our view will contribute to building investor trust going forward. This aside, we continue to believe in the business case, a...
- Jacob Mekhael
- Kristof Samoy
- Thomas Vranken
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Lewi
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