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Quest For Growth NV: 1 director

A director at Quest For Growth NV bought 31,186 shares at 4.365EUR and the significance rating of the trade was 63/100. 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 cl...

Hilde Van Boxstael ... (+5)
  • Hilde Van Boxstael
  • Sharad Kumar S.P
  • Thomas Couvreur
  • Thomas Vranken
  • Wim Lewi
Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - December 2024 KBCS Holdings Universe Returns -3.1% d...

1M Performance - Absolute: During Dec'24 (1M period), the KBCS Holdings Universe posted a return of -3.2% which was mainly driven by multi-asset holdings (-4.3%) while single-asset holdings posted a significantly less negative return of -0.6%. The 3 top performers during the period were D'Ieteren Group (+26.6%), Compagnie du Bois Sauvage (+7.0%) and KBC Ancora (+7.0%) while the 3 worst performers were Exor (-5.4%), Heineken Holding (-3.6%) and Gimv (-1.1%). FY24 Performance - Relative: During ...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - November 2024 KBCS Holdings Universe Returns -3.6% D...

1M Performance - Absolute: During Nov'24 (1M period), the KBCS Holdings Universe posted a return of -3.6% which was mainly driven by single-asset holdings (-6.9%) while multi-asset holdings posted a slightly less negative return of -2.2%. The 3 top performers during the period were D'Ieteren Group (+5.4%), Gimv (+5.1%) and KBC Ancora (+0.6%) while the 3 worst performers were Compagnie du Bois Sauvage (-10.1%), Heineken Holding (-9.6%) and Quest For Growth (-7.5%). YTD Performance - Relative: O...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - October 2024 KBCS Holdings Universe Returns -2.5% Du...

1M Performance - Absolute: During Oct'24 (1M period), the KBCS Holdings Universe posted a return of -2.5% which was mainly driven by single-asset holdings (-2.8%) while multi-asset holdings  posted a slightly less negative return of -2.3%. The 3 top performers during the period were Financière de Tubize (+6.7%), D'Ieteren Group (+4.5%), and Solvac (+2.8%) while the 3 worst performers were Sofina (-11.4%), Gimv (-9.8%), and Compagnie du Bois Sauvage (-6.3%). YTD Performance - Relative: On a YTD ...

Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Lynn Hautekeete
  • Michiel Declercq
  • Sharad Kumar S.P
  • Wim Lewi

Morning Notes : ATEB BB, MTLS US, MONT BB, PROX BB, QFG BB, TINC BB, X...

: ATEB BB, MTLS US, MONT BB, PROX BB, QFG BB, TINC BB, XFAB FP, XIOR BB, DEME BB

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - September 2024 Exor Added To The KBC Securities Hold...

1M Performance - Absolute: During Sept'24 (1M period), the KBCS Holdings Universe posted a return of -0.2% which was mainly driven by multi-asset holdings (-1.2%) while single-asset holdings posted a positive return of 2.0%. The 3 top performers during the period were Sofina (+15.3%), Financière de Tubize (+8.4%), and Brederode (+7.2%) while the 3 worst performers were Exor (-4.4%), Compagnie du Bois Sauvage (-5.5%), and D'Ieteren Group (-7.2%). YTD Performance - Relative: On a YTD basis (as o...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - August 2024 KBCS Holdings Universe Up 0.5% Thanks To...

1M Performance - Absolute: During July'24 (1M period), the KBCS Holdings Universe posted a return of 0.5% which was mainly driven by multi-asset holdings (+1.7%) while single-asset holdings posted a negative return of -1.3%. The 3 top performers during the period were HAL Trust (+5.1%), Texaf (+2.9%), and The Infrastructure Company (TINC, +9.6%) while the 3 worst performers were Brederode (-2.8%), Solvac (-5.3%), and Whitestone Group (-7.2%). YTD Performance - Relative: On a YTD basis (as of A...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - July 2024 KBCS Holdings Universe Up 1.2% Thanks To M...

1M Performance - Absolute: During July'24 (1M period), the KBCS Holdings Universe posted a return of 1.2% which was mainly driven by multi-asset holdings (+3.6%) while single-asset holdings posted a negative return of -2.4%. The 3 top performers during the period were Financière de Tubize (+17.0%), Ackermans & van Haaren (+9.8%), and Compagnie du Bois Sauvage (+9.6%) while the 3 worst performers were Texaf (-3.9%), Heineken Holding (-7.5%), and Gimv (-8.4%). YTD Performance - Relative: On a YT...

Guy Sips ... (+8)
  • Guy Sips
  • Hilde Van Boxstael
  • Lynn Hautekeete
  • Michiel Declercq
  • Sharad Kumar S.P
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi

Morning Notes : ACKB BB, BEKB BB, COFB BB, ELI BB, ENX FP, FLOW NA, PR...

: ACKB BB, BEKB BB, COFB BB, ELI BB, ENX FP, FLOW NA, PROX BB, QFG BB, UMI BB, WDP BB, XFAB FP

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - June 2024 KBCS Holdings Universe Down -3.6% Due To S...

1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of -3.6% which was mainly driven by single-asset holdings (-4.1%) while multi-asset holdings posted a slightly less negative return of -3.7%. The 3 top performers during the period were Financière de Tubize (+5.9%), Texaf (0.0%), and Quest for Growth (-1.8%) while the 3 worst performers were Compagnie du Bois Sauvage (-7.7%), Gimv (-5.6%), and KBC Ancora (-5.3%). YTD Performance - Relative: On a YTD ...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - May 2024 KBCS Holdings Universe Down -0.9% Due To Mu...

1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of -0.9% which was mainly driven by multi-asset holdings (-1.3%) while single-asset holdings posted a positive return of +0.6%. The 3 top performers during the period were Solvac (+8.0%), Gimv (+5.5%), and Compagnie du Bois Sauvage (+5.3%) while the 3 worst performers were HAL Trust (-6.5%), D'Ieteren Group (-1.8%), and Texaf (-1.1%). YTD Performance - Relative: On a YTD basis, the KBCS Holdings Univ...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - April 2024 KBCS Holdings Universe Up 0.6% Thanks To ...

1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of +0.6% which was mainly driven by single-asset holdings (+1.8%) while multi-asset holdings posted a negative return of -0.1%. The 3 top performers during the period were Financière de Tubize (+8.1%), Brederode (+7.4%), and Texaf (+6.9%) while the 3 worst performers were HAL Trust (-4.6%), Gimv (-1.5%), and D'Ieteren Group (-1.2%). YTD Performance - Relative: On a YTD basis, the KBCS Holdings Univer...

Sharad Kumar S.P
  • Sharad Kumar S.P

Quest for Growth Q1 FY24: Starting The Year With A €1.4m Net Loss

During 1Q24, Quest for Growth booked a net loss of –€1.4m while return on equity for the period was -1.0%. NAVps remained stable at €7.4ps (vs. €7.46ps during FY23-end). Within quoted assets, ABO Wind returned +42.0%, Tubize returned +25% and EVS Broadcasting returned +15% during 1Q24. Tubize and EVS are the largest positions in the portfolio as of 1Q24-end. On the other hand, LEM Holdings fell -18%, Melexis fell -18% and Equasens fell -16%; QfG added to their Equasens position during 1Q24. Har...

Joren Van Aken
  • Joren Van Aken

Quest For Growth - Q1-24: No dividend yet

Q1-24 NAV came in at EUR 7.44 p/s but already pre-announced.Loss of EUR -1.4m in Q1, despite a strong performance of the listed portfolio, implies that QfG still needs to recover about EUR 7.7m or ~+5.5% before it can pay out a dividend.We estimate today's NAV to be EUR 7.44 p/s, implying an elevated discount of 38.5%. Unfortunately, QfG's discount is highly dependent on whether it can pay out a dividend. At the moment, this does not yet seem to be in the cards and hence we expect it t...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - February 2024 KBCS Holdings Universe Underperforms B...

1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of -3.8% which was mainly driven by single-asset holdings (-5.4%) while multi-asset holdings posted a less negative return og -2.8%. The 3 top performers during the period were Financière de Tubize (+8.7%), Whitestone Group (+7.7%), and Texaf (+3.0%) while the 3 worst performers were Heineken Holding (-8.3%), Compagnie Du Bois Sauvage (-7.7%), and Solvac (-7.5%). YTD Performance - Relative: On a YTD ...

Sharad Kumar S.P
  • Sharad Kumar S.P

Holdings Report - January 2024 KBCS Holdings Universe outperforms BEL2...

1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of +1.2% which was mainly driven by single-asset holdings (+2.0%) while multi-asset holdings posted a lower return (+0.5%). The 3 top performers during the period were Financière de Tubize (+7.5%), Brederode (+7.5%), and D'Ieteren Group (+6.1%) while the 3 worst performers were Solvac (-4.0%), Ackermans & van Haaren (-2.5%), and Gimv (-2.4%). YTD Performance - Relative: On a YTD basis, the KBCS Holdi...

Hilde Van Boxstael ... (+6)
  • Hilde Van Boxstael
  • Michiel Declercq
  • Sharad Kumar S.P
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi
Joren Van Aken
  • Joren Van Aken

Quest For Growth - FY loss slightly lower than expected

The FY loss of EUR 3.5m was less than our EUR 6m loss anticipatedQuest is simplifying its shareholder base by halving its preference shares but raising its ordinary shares, causing almost 3% dilutionThe company will organize an analyst meeting at 11.00 CET today. We stick to our Hold rating and EUR 5.4 TP

Joren Van Aken
  • Joren Van Aken

Quest For Growth - No FY23 dividend expected, but FY24 dividend possib...

QfG announced its December 2023 NAV which came in at EUR 7.51. This was slightly below or estimate of EUR 7.71.Some important valuation changes in Finquest and Health-Tech FundWe estimate some EUR 6m of remaining losses which need to be recovered in FY24 in order to pay out a dividend in 2025Discount has been elevated, hovering in a 30-35% range. We expect this discount to persist as long as there is no dividend within reach. Hold reiterated.

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