reports
- Sharad Kumar S.P
Gimv Bart Troubleyn to lead Gimv Anchor
Following Gimv's CMD (Jan'25) during which it announced its new strategy, deeper collaboration with WorxInvest, and launched ‘Gimv Anchor', Gimv has appointed Bart Troubleyn as the Head of Gimv Anchor (from mid-April onwards). Bart will also become a member of Gimv's Executive Committee. In his role, Bart will be working closely with all Managing Partners and teams of individual Gimv platforms in terms of both deal sourcing and in further strengthening the active value creation across platforms....
- Guy Sips
- Jacob Mekhael
- Sharad Kumar S.P
Gimv NV: 1 director
A director at Gimv NV bought 2,750 shares at 36.720EUR and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
- Sharad Kumar S.P
Gimv Medi-Markt And Unizell Merge To Form Liveo Group
Medi-Markt and Unizell will merge to form Liveo group, who will be a highly capable supplier to the German homecare market specialising in the sophisticated, long-term care of chronically ill or impaired people in their home environment. The Liveo group will employ over 450 people. The group will operate throughout Germany and will achieve total combined sales of approximately €150.0m. Gimv will hold a majority interest in Liveo and will continue to grow the group with Jürgen van der Smissen. Th...
- ING Helpdesk
Benelux Morning Notes
Air France-KLM: Surprising 4Q to the upside. CMB.TECH: A golden step into Golden Ocean? EVS: Evertz 3Q25 results. GBL: Boosting its liquidity profile. Gimv: Continued transaction spree post capital increase. Solvay: 4Q24 beat, 2025F guide in-line, reaffirmed 2028F target. Talabat: Completes InstaShop acquisition
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update March 2025: Removing ABN, Ackermans – Add...
We made 5 changes in this March update of our KBC Securities Dynamic Top Pick List (DTPL): On 26 February we already removed ABN Amro from our DTPL, after a strong 24.4% return since the announcement of our 2025 Dynamic Top Pick List on 13 December 2024, far outpacing our financial sector coverage. Although we remain positive on the longer term, we believe most of the short-term revaluation is behind us. Today, we remove Ackermans & van Haaren as the stock just hit an all-time high and crossed...
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
DIE D'IETEREN SA
SOF SOFINA SA
GIMB GIMV NV
ACKB ACKERMANS & VAN HAAREN NV
ROYAL VOPAK NV
MELE MELEXIS NV
WDP WAREHOUSES DE PAUW SCA
FUR FUGRO NV
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
- Sharad Kumar S.P
Holdings Report - February 2025 KBCS Holdings Universe Returns 3.7% Du...
1M Performance - Absolute: During Feb'25 (1M period), the KBCS Holdings Universe posted a return of +3.7% which was mainly driven by single-asset holdings (+11.1%) while multi-asset holdings posted a modest return of +0.5%. The 3 top performers during the period were Heineken Holding (+21.3%), KBC Ancora (+6.9%) and Ackermans & van Haaren (+4.4%) while the 3 worst performers were Financière de Tubize (-6.3%), Compagnie du Bois Sauvage (TINC; -6.6%) and Whitestone Group (-6.8%). YTD Performance...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
DIE D'IETEREN SA
SOF SOFINA SA
SOLV SOLVAC S.A.
GIMB GIMV NV
QFG QUEST FOR GROWTH
ACKB ACKERMANS & VAN HAAREN NV
TUB FINANCIERE DE TUBIZE S.A.
HEIO HEINEKEN HOLDING N.V.
KBCA KBC ANCORA SCA
TEXF TEXAF
BREB BREDERODE S.A.
TINC TINC COMM. VA
EXO EXOR N.V.
ROCK WHITESTONE GROUP
- Sharad Kumar S.P
Holdings Report - January 2025 KBCS Holdings Universe Returns 3.1% Dur...
1M Performance - Absolute: During Jan'25 (1M period), the KBCS Holdings Universe posted a return of +3.1% which was mainly driven by multi-asset holdings (+3.3%) while single-asset holdings posted a slightly lower return of +2.7%. The 3 top performers during the period were Sofina (+10.6%), Financière de Tubize (+7.5%) and Whitestone Group (+6.4%) while the 3 worst performers were Gimv (-2.0%), The Infrastructure Company (TINC; -3.4%) and Texaf (-5.1%). YTD Performance - Relative: On a YTD bas...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
DIE D'IETEREN SA
SOF SOFINA SA
SOLV SOLVAC S.A.
GIMB GIMV NV
QFG QUEST FOR GROWTH
ACKB ACKERMANS & VAN HAAREN NV
TUB FINANCIERE DE TUBIZE S.A.
HEIO HEINEKEN HOLDING N.V.
KBCA KBC ANCORA SCA
TEXF TEXAF
BREB BREDERODE S.A.
TINC TINC COMM. VA
EXO EXOR N.V.
ROCK WHITESTONE GROUP
- Hans D’Haese
- Stijn Demeester
Gimv/Rolling in the dough and ambitious growth/HOLD
Gimv revealed ambitious growth projects when launching a €247m financing round, setting its sights on additional value creation with the following key objectives: (1) double the portfolio size from €1.7bn to €3.5bn; (2) increase the portfolio return target from 15.0% to 17.5%; and (3) maximise value creation by extending the investment horizon through Anchor investments. The combined effect of an increased target IRR on the portfolio, the dilutive effect of the capital increase at a significan...
- Guy Sips
- Hilde Van Boxstael
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- ING Helpdesk
Benelux Morning Notes
Aedifica: Good results, positive message about tenants growth. AGEAS: BNP Paribas increase stake >15% ASR: 2H results and SBB in line, capital strength building up. Belgian Telecoms: Peer Telenet 4Q24 results, guiding for low to mid single digit EBITDAal decline EVS: Exceptional FCF, 2025 EBIT consensus to go up >7% on +10-15% like for like sales growth YoY Gimv: In close cooperation with WorxInvest KPN: VodafoneZiggo 4Q24 still weak, declining EBITDA guidance on “strategic customer initiatives”...
- Sharad Kumar S.P
Gimv Cegeka becomes 1st anchor investment
Gimv named Cegeka as the first anchor investment under the new strategy. A newly incorporated entity called ‘Gimv Anchor Investments BV' (“Anchor”) will become the reference shareholder of Cegeka. By setting up a new entity, there is now the possibility to involve one or more external investors in the anchor investing strategy. Gimv and WorxInvest have further studied this possibility of cooperation and have reached an agreement on WorxInvest acquiring a stake of 25% plus one share in Anchor fro...
- Guy Sips
- Lynn Hautekeete
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Sharad Kumar S.P
Gimv ‘The time is now', Step into a solid private equity compounder
Gimv's €247.0m rights issue (€242.1m net proceeds) successfully closed. A 7.15m shares started trading on the Euronext Brussels. We believe Gimv's new strategy marks the beginning of a new growth phase. By FY30, Gimv aims to double its portfolio value to approximately €3.5bn. This will be achieved by doubling its average ticket size to €50.0m, increasing its target portfolio return to 17.5%, and utilizing available dry powder of around €645.0m (KBCSe). Additionally, Gimv will extend the holding ...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List We stick to our selection : No changes in this F...
We stick to our selection : No changes in this February update of our Dynamic Top Pick List. The 13 names are : ABN Amro, Ackermans & van Haaren, Bekaert, D'Ieteren, EVS Broadcast Equipment, Fagron, Fugro, Gimv, Melexis, Shurgard, Sofina, Warehouses De Pauw and Xior. So we continue with 7 cyclical and 6 defensive stocks in our Dynamic Top Pick List with a focus on value stocks that have been left behind. Defensive segment like holdings are overweight, as well as Real-estate that should benefit ...
- ING Helpdesk
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- ING Helpdesk
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