reports
- Michiel Declercq
Sipef The rerating has materialised
Sipef reported a solid 1Q26 update, with the 7.3% increase in CPO production keeping the group on track for its 470kt target. Together with elevated CPO prices following the conflict in the Middle East, the group now expects the recurring net result (gs) to be broadly in line with last year. While the prospects for Sipef remain very strong, we highlight that the sector has already rerated significantly over the past year. We increase our TP from € 88.0 to € 100.0ps but lower our rating from Buy ...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
- Benoit Valleaux
- Steven Gould
BN DANONE SA
TKA TELEKOM AUSTRIA AG
ABB ABB LTD.
RXL REXEL SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
BEI BEIERSDORF AG
RAND RANDSTAD NV
ISP INTESA SANPAOLO S.P.A.
ASM ASM INTERNATIONAL N.V.
MOCORP METSO OUTOTEC OYJ
UCG UNICREDIT S.P.A.
MONC MONCLER SPA
BHP BHP GROUP LTD
AKZA AKZO NOBEL N.V.
EQT EQT AB
FDJ LA FRANCAISE DES JEUX SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
- Benoit Valleaux
- Steven Gould
BN DANONE SA
TKA TELEKOM AUSTRIA AG
ABB ABB LTD.
RXL REXEL SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
BEI BEIERSDORF AG
RAND RANDSTAD NV
ISP INTESA SANPAOLO S.P.A.
ASM ASM INTERNATIONAL N.V.
MOCORP METSO OUTOTEC OYJ
UCG UNICREDIT S.P.A.
MONC MONCLER SPA
BHP BHP GROUP LTD
AKZA AKZO NOBEL N.V.
EQT EQT AB
FDJ LA FRANCAISE DES JEUX SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
- ING Helpdesk
Benelux Morning Notes
AkzoNobel: 1Q26 beat and FY guidance maintained. ASM International: 1Q26 results, great start to the year. Basic-Fit: Highlights of Capital Markets Day 2026. BE Semiconductor Industries: 1Q26 Preview - building strength. Cofinimmo: Earnings beat, muted investments; Armonea agreement reached. Corbion: Not so sweet. MICC: Peer Danone 1Q26 results. Randstad: Slight beat on 1Q26, trends improving; 2Q26 guidance at least in line. Recticel: 1Q26 in line, sharp pick-up expected in 2Q. ...
- Kristof Samoy
- Lynn Hautekeete
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
ASM reports first quarter 2026 results
ASM reports first quarter 2026 results Almere, The NetherlandsApril 21, 2026, 6 p.m. CET Q1 revenue at high end of guidance; record operating margin ASM International N.V. (Euronext Amsterdam: ASM) today reports its first quarter 2026 results (unaudited). Revenue of €863 million in Q1 2026 reached the high end of the guidance of €830 million +/-4%. Revenue was led by logic/foundry, with continued strength in the leading-edge segment and a sequential strong rebound in mature logic/foundry sales in China. AI-led demand accelerated further in the quarter, underpinned by strong customer in...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Wim Lewi
- ING Helpdesk
- Pierre FerraguÊ
- Pierre FerraguÊ
- Pierre FerraguÊ
- Baptiste Salaville
- Margaux van Oerle
LOGN LOGITECH INTERNATIONAL S.A.
RBT ROBERTET SA
ALCLS CELLECTIS SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
JEN JENOPTIK AG
SPAC 468 SPAC I SE
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
- Baptiste Salaville
- Margaux van Oerle
LOGN LOGITECH INTERNATIONAL S.A.
RBT ROBERTET SA
ALCLS CELLECTIS SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
JEN JENOPTIK AG
SPAC 468 SPAC I SE
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
- Baptiste Salaville
- Margaux van Oerle
- Stefano Toffano
LOGN LOGITECH INTERNATIONAL S.A.
PUB PUBLICIS GROUPE SA
JMT JERONIMO MARTINS SGPS S.A.
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DAI DAIMLER AG
GIVN GIVAUDAN SA
SW SODEXO SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
CARL B CARLSBERG A/S CLASS B
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
NEM NEMETSCHEK SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
SIK SIKA AG
JEN JENOPTIK AG
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
- Baptiste Salaville
- Margaux van Oerle
- Stefano Toffano
LOGN LOGITECH INTERNATIONAL S.A.
PUB PUBLICIS GROUPE SA
JMT JERONIMO MARTINS SGPS S.A.
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DAI DAIMLER AG
GIVN GIVAUDAN SA
SW SODEXO SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
CARL B CARLSBERG A/S CLASS B
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
NEM NEMETSCHEK SE
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
SIK SIKA AG
JEN JENOPTIK AG
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
- Martin Marandon-Carlhian
- Stephane Houri
LOGN LOGITECH INTERNATIONAL S.A.
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
- Martin Marandon-Carlhian
- Stephane Houri
LOGN LOGITECH INTERNATIONAL S.A.
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
COTN COMET HOLDING AG
CICN CICOREL HOLDING S.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
NOD NORDIC SEMICONDUCTOR ASA
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.
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
AMS AMS-OSRAM AG
IFCN INFICON HOLDING AG
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