reports
- Adrian Pehl
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- Adrian Pehl
UBI UBISOFT ENTERTAINMENT SA
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BRBY BURBERRY GROUP PLC
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- Baptiste Lebacq
- Baptiste Lebacq
- Adrian Pehl
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DEME DEME GROUP NV
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- Adrian Pehl
GBF BILFINGER SE
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DEME DEME GROUP NV
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- Thijs Berkelder
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- ING Helpdesk
- Guy Sips
DEME FIRST LOOK: Solid start with strong performance in Offshore Energ...
We reiterate our positive stance on DEME (Buy, €175 TP) as we saw a solid start of the year with 1Q25 turnover up 10% y/y to €993m (KBCSe €980m). End-1Q25 orderbook remains at a healthy level at €7.6bn, compared to €7.5bn (end-1Q24) and €8.2bn (end-FY24). This orderbook is excluding the orderbook of recently acquired Havfram, a Norwegian offshore wind contractor, supporting DEME's ambition to expand its footprint in the offshore wind energy market and bolster its competitive edge in turbine and ...
Trading update Q1 2025: steady first quarter performance and full-year...
Trading update Q1 2025: steady first quarter performance and full-year outlook confirmed Highlights first quarter 2025 Solid start of the year with group turnover at 993 million euros, up 10% compared to 900 million euros a year agoOrderbook remains at a healthy level at 7.6 billion euros, compared to 7.5 billion euros a year ago, excluding orderbook HavframManagement reaffirms guidance for the year for turnover and EBITDA margin at least in line with last yearSubsequent to quarter end, DEME has acquired Havfram, a Norwegian offshore wind contractor, supporting DEME’s ambition to expand ...
Trading update Q1 2025: stabiele prestatie in eerste kwartaal en vooru...
Trading update Q1 2025: stabiele prestatie in eerste kwartaal en vooruitzichten voor het volledige jaar bevestigd Hoogtepunten eerste kwartaal 2025 Solide start van het jaar met een omzet voor de groep van 993 miljoen euro, 10% hoger in vergelijking met 900 miljoen euro vorig jaarHet orderboek blijft gezond met 7,6 miljard euro, in vergelijking met 7,5 miljard euro een jaar geleden, exclusief het orderboek van HavframHet management herbevestigt de vooruitzichten voor het jaar voor een omzet en EBITDA-marge minstens in lijn met vorig jaarNa afloop van het eerste kwartaal heeft DEME Havfram ...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update May 2025: Removing Fugro – Adding Merus
The ongoing tariff war continues to create uncertainty for investors, with a trade embargo between the US and China. Although Europe has received a temporary reprieve, the prolonged situation could result in significant economic damage. We are maintaining a defensive stance in our Benelux Dynamic Top Pick List, as the Federal Reserve holds steady and the European Central Bank may continue lowering rates. Pessimism regarding the European industry has increased, though some US-based European compa...
- Francesca Ferragina
- Michiel Vereycken
Xior Student Housing/Strong organic trends continue/BUY
1Q started with a very strong 5.5% LFL growth and an improved operational margin of 86.3%. We like the portfolio movement that was up 1.4% YTD, with positive revaluations at +0.9%, underpinned by strong organic performance. Pro forma debt ratio is at 48.3%. Disposals will continue but in a more opportunistic manner, without a precise target. For the time being the focus is on development projects. 2025 guidance is reconfirmed, we fine-tune our estimates marginally, and we fully confirm our €40.0...
- Florent Laroche-Joubert
- Roy Külter
- Steven Boumans
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SHUR SHURGARD SELF STORAGE LIMITED
R3NK RENK GROUP AG
LANV PRIMAVERA CAP ACQUISITION CORP
FERGR FERRARI GROUP PUBLIC LIMITED COMPANY
DEME completes Havfram acquisition
DEME completes Havfram acquisition DEME COMPLETES HAVFRAM ACQUISITIONFollowing the announcement on April 9, 2025, of its agreement to acquire Havfram, an international offshore wind contractor based in Norway, DEME (Euronext: DEME) has now successfully completed the acquisition. The transaction, valued at approximately 900 million euros, has passed all customary closing conditions. Attachment
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