reports
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
- Jacob Mekhael
Galapagos Updated NHL phase 1/2 GLPG5101 data at EHA shows decentralis...
Galapagos will present new data from the ongoing Phase 1/2 (ATALANTA-1) study of GLPG5101 (CD19 CAR-T) at the European Hematology Association (EHA) Congress, being held 12-15 June. The results demonstrate POC for a 7 day vein-vein de-centralised CAR-T manufacturing process. Combined with the previously reported safety differentiation, we believe this could support strategic discussions as the company is exploring such options for its cell therapy business. We reiterate our Buy rating and € 37 TP...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Thomas Vranken
- Wim Lewi
- Wim Lewi
Dollar Weakness The impact on our Benelux Coverage
In general, a weaker USD has a negative impact on Benelux stocks, particularly for companies with significant exports to the US. In this note we selected a list of companies with high US export exposure and we examine the potential impact on FY25 earninings. On top of the weak dollar, rising trade tensions or the introduction of tariffs further harm Benelux exporters. As the dollar depreciates against the euro, European goods become costlier for American consumers. At the same time, revenues ear...
EVS EVS BROADCAST EQUIPMENT SA
SOLB SOLVAY SA
UCB UCB S.A.
DIE D'IETEREN SA
SIP SIPEF GROUP
SOF SOFINA SA
ASM ASM INTERNATIONAL N.V.
ARCAD ARCADIS NV
ROYAL VOPAK NV
AALB AALBERTS N.V.
MELE MELEXIS NV
KIN KINEPOLIS GROUP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
ASML ASML HOLDING NV
ARGX ARGEN-X SE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ADYEN ADYEN NV
BAR BARCO NV
FUR FUGRO NV
DSFIR KONINKLIJKE DSM N.V.
AGN AEGON N.V.
SYENS SYENSQO
- Michiel Declercq
Proximus Sells stake in Be-Mobile, raises divestment target from € 500...
This morning, Proximus announced that it has reached a binding agreement with Arrive to sell its 92.7% stake in Be-Mobile. The transaction is based on an enterprise value of Be-Mobile of € 170m and implies a FY24 EV/EBITDA multiple of 12.1x, with closing expected in 2H25. Following this transaction, Proximus will have achieved its € 500m divestment program two years ahead of the initial 2027 target and is now raising its overall asset disposal ambition to € 600m. We reiterate our Accumulate rati...
Galapagos to Present New ATALANTA-1 CAR-T Data at EHA 2025, Highlighti...
Galapagos to Present New ATALANTA-1 CAR-T Data at EHA 2025, Highlighting Low Toxicity and Rapid, Decentralized Delivery of Fresh, Early-Memory-Enriched GLPG5101 in R/R NHL Data reported from the ongoing ATALANTA-1 Phase 1/2 study in a heavily pretreated relapsed refractory non-Hodgkin’s Lymphoma (R/R NHL) patient population demonstrate low rates of high-grade toxicities Of the 64 patients enrolled, 61 received treatment, resulting in a 5% attrition rate, significantly lower than industry benchmarks. 95% of patients were infused with fresh, stem-like early memory CD19 CAR-T cell...
Galapagos zal nieuwe ATALANTA-1 CAR-T data presenteren op EHA 2025, me...
Galapagos zal nieuwe ATALANTA-1 CAR-T data presenteren op EHA 2025, met lage toxiciteit en snelle, gedecentraliseerde toediening van vers, early-memory-verrijkt GLPG5101 bij R/R NHL Gegevens uit de lopende ATALANTA-1 fase 1/2-studie bij een zwaar voorbehandelde patiëntengroep met recidief/refractair non-Hodgkinlymfoom (R/R NHL) tonen lage percentages van hooggradige toxiciteiten aan Van de 64 ingeschreven patiënten werden er 61 behandeld, wat resulteerde in een uitvalpercentage van 5%, aanzienlijk lager dan de benchmarks. 95% van de patiënten werd geïnfuseerd met verse,...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Vranken
- Wim Lewi
EVS Communicates the Results of the Extraordinary General Meeting of J...
EVS Communicates the Results of the Extraordinary General Meeting of June 10, 2025 EVS COMMUNICATES THE RESULTS OF THE EXTRAORDINARY GENERAL MEETING OF JUNE 10, 2025 EVS Broadcast Equipment SA, leading provider of live video production systems, held a postponed Extraordinary General Meeting on Tuesday, June 10, 2025 (due to the lack of attendance quorum at the Extraordinary General Meeting convened on May 20, 2025). In total 163 shareholders representing 3,721,388 shares, or 25.97% of the company shares, attended (by proxy) the Extraordinary General Meeting held physically at the compan...
EVS COMMUNIQUE LES RESULTATS DE L’ASSEMBLEE GENERALE EXTRAORDINAIRE DU...
EVS COMMUNIQUE LES RESULTATS DE L’ASSEMBLEE GENERALE EXTRAORDINAIRE DU 10 JUIN 2025 EVS COMMUNIQUE LES RESULTATS DE L’ASSEMBLEE GENERALE EXTRAORDINAIRE DU 10 JUIN 2025 EVS Broadcast Equipment SA, leader des systèmes de production vidéo en direct, a tenu ce mardi 10 juin 2025 une Assemblée Générale Extraordinaire reportée (l’Assemblée Générale Extraordinaire convoquée le 20 mai 2025 n’ayant pas réuni le quorum de présence requis). Au total, 163 actionnaires représentant 3.721.388 titres, soit 25,97% du capital de la société, ont pris part (par procuration) à cette Assemblée qui s’est dér...
Syensqo - Acquisition of own shares
Syensqo - Acquisition of own shares Acquisition of own shares Brussels, Belgium – June 9, 2025 - 17:45 CET In accordance with article 7:215 of the Belgian Code of Companies and Associations, Syensqo SA (“Syensqo” or the “Company”) pursues its Share Buyback Program (or the “Program”) announced on September 30, 2024, covering up to €300 million. This third tranche began on February 27, 2025 and will run until June 27, 2025 at the latest, and will cover a maximum amount of up to €50 million (of the €300 million Program). The Company intends to cancel all shares acquired through this tranc...
Syensqo - Acquisition d'actions propres
Syensqo - Acquisition d'actions propres Acquisition d'actions propres Bruxelles, Belgique – 9 Juin 2025 - 17h45 CET Conformément à l'article 7:215 du Code belge des sociétés et des associations, Syensqo SA (« Syensqo » ou la « Société ») poursuit son programme de rachat d'actions (ou le « Programme ») annoncé le 30 septembre 2024, portant sur un montant maximum de €300 millions. Cette troisième tranche a démarré le 27 février 2025 se poursuivra jusqu'au 27 juin 2025 au plus tard, et portera sur un montant maximum de €50 millions (sur le total de €300 millions du programme). La Société a...
Syensqo - Verwerving van eigen aandelen
Syensqo - Verwerving van eigen aandelen Verwerving van eigen aandelen Brussel, België - 9 juni 2025 – 17u45 CET In overeenstemming met artikel 7:215 van het Belgische Wetboek van Vennootschappen en Verenigingen zet Syensqo SA (“Syensqo” of de “Vennootschap”) zijn aandeleninkoopprogramma (of het “Programma”), aangekondigd op 30 september 2024, voort voor een bedrag van maximaal €300 miljoen. Deze derde tranche begon op 27 februari 2025 en loopt tot uiterlijk 27 juni 2025, en zal een maximumbedrag dekken van €50 miljoen (van het €300 miljoen programma). De Vennootschap heeft de intentie om...
- Adrian Pehl
- Emira Sagaama
- Emna Ben Bdira
- Marc Lavaud
- Maxime Kogge
- Roy Külter
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
RCO REMY COINTREAU SA
SBMO SBM OFFSHORE NV
ZVTG ZAVAROVALNICA TRIGLAV D.D.
SZG SALZGITTER AG
CGM CEGEDIM SA
VOE VOESTALPINE AG
ACX ACERINOX SA
WIZZ WIZZ AIR HOLDINGS PLC
ERA ERAMET SA
COFB COFINIMMO SA
NDA AURUBIS AG
AED AEDIFICA SA
SLIGR SLIGRO FOOD GROUP N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CPINV CARE PROPERTY INVEST SA
BCHN BURCKHARDT COMPRESSION HOLDING AG
RIO RIO TINTO PLC
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
ALVGO VOGO SA
STM STABILUS SE
- Adrian Pehl
- Emira Sagaama
- Emna Ben Bdira
- Marc Lavaud
- Maxime Kogge
- Roy Külter
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
RCO REMY COINTREAU SA
SBMO SBM OFFSHORE NV
ZVTG ZAVAROVALNICA TRIGLAV D.D.
SZG SALZGITTER AG
BLC BASTIDE LE CONFORT MEDICAL SA
CGM CEGEDIM SA
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
COFB COFINIMMO SA
NDA AURUBIS AG
AED AEDIFICA SA
SLIGR SLIGRO FOOD GROUP N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
CPINV CARE PROPERTY INVEST SA
BCHN BURCKHARDT COMPRESSION HOLDING AG
RIO RIO TINTO PLC
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
ALVGO VOGO SA
STM STABILUS SE
- ING Helpdesk
Benelux Morning Notes
Ageas: Reinsurance partnership with TRIGLAV, taking QS on Italian motor direct insurance Belgian Telecoms: Digi introduces a new mobile subscription at €3. Kinepolis: Box office in US/Canada up 76% YoY while France visitors were down 25%. NN Group & ASR: Dutch coalition collapse not affecting Dutch Pension Reform. SBM Offshore: Farewell Aseng after 13.5 years of service. Events Calendar
PROX PROXIMUS SA DE DROIT PUBLIC
SBMO SBM OFFSHORE NV
AGS AGEAS SA/NV
PHIA KONINKLIJKE PHILIPS N.V.
WKL WOLTERS KLUWER NV
ASM ASM INTERNATIONAL N.V.
ASRNL ASR NEDERLAND NV
LIGHT SIGNIFY NV
MELE MELEXIS NV
KIN KINEPOLIS GROUP NV
NN NN GROUP N.V.
ASML ASML HOLDING NV
TKWY JUST EAT TAKEAWAY.COM N.V.
OBEL ORANGE BELGIUM SA
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
TOM2 TOMTOM NV
PRX PROSUS N.V. CLASS N
DSC1 DUTCH STAR C SHAR
BAR BARCO NV
FAST FASTNED
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update June: Removing Merus, Shurgard and Adyen ...
In this June update, we've made four adjustments to the KBC Securities Dynamic Top Pick List: 1.Merus (Removed – 27 May) was removed following the release of strong interim Phase 2 data at the ASCO 2025 conference. Its lead asset, petosemtamab, in combination with Keytruda, showed a 63% overall response rate in first-line treatment of head and neck cancer—significantly outperforming Keytruda monotherapy. The resulting share price surge validated our investment thesis. 2. Adyen (Removed) has de...
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
DIE D'IETEREN SA
SOF SOFINA SA
ROYAL VOPAK NV
MELE MELEXIS NV
KIN KINEPOLIS GROUP NV
MRUS MERUS B V
ADYEN ADYEN NV
WDP WAREHOUSES DE PAUW SCA
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
- Gerardo Ibanez
- Roy Külter
- Steven Boumans
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
Benelux Local Champions Feedback document
Below our feedback notes written at the occasion of our annual Benelux Local Champions Conference that took place on 27 May 2025 at our historic building at Grand Place Brussels. This event offered the possibility to have one-on-one meetings and/or small group meetings with the following Benelux companies and their top management & IR: ACKERMANS & VAN HAAREN | AHOLD DELHAIZE | AKZONOBEL | ARCADIS | AZELIS | CORBION | GBL | LOTUS BAKERIES | MELEXIS | PROXIMUS | SOFINA | UMICORE
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