reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
US Tariffs Navigating the impact on Benelux equities
Trumps reciprocal tariffs caused a massive blow to equity markets, following a pressured period of escalating trade wars. Retaliatory measures can further heavily damage market confidence, as seen Friday when China announced their 34% tarrif of US goods. International trade policies have never moved this erratic and untransparant, with uncertainty and volatility being the baseline for now. In this report we highlight the key stocks in our coverage relevant to this discussion.
EURN EURONAV NV
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
UCB UCB S.A.
COFB COFINIMMO SA
DIE D'IETEREN SA
AGFB AGFA-GEVAERT NV
IBAB ION BEAM APPLICATIONS SA
AALB AALBERTS N.V.
ONTEX ONTEX GROUP N.V.
MELE MELEXIS NV
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
EXO EXOR N.V.
ASML ASML HOLDING NV
ARGX ARGEN-X SE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ADYEN ADYEN NV
AUTL AUTOLUS THERAPEUTICS ADS
BAR BARCO NV
DEME DEME GROUP NV
FLOW FLOW TRADERS LTD
SYENS SYENSQO
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
Agfa to receive partial payment from Aurelius Group, remaining amount ...
Agfa to receive partial payment from Aurelius Group, remaining amount still subject to ruling independent expert - regulated information April 1, 2025 – 5.40 PM CET Regulated information Agfa to receive partial payment from Aurelius Group, remaining amount still subject to ruling independent expert Mortsel, Belgium – April 1, 2025 – 5.40 p.m. CET Aurelius Group has agreed to pay Agfa an amount of 5.9 million euro by April 4, 2025 in relation to the sale of Agfa’s Offset Solutions division to Aurelius Group. In August 2022, Agfa announced the sign...
Agfa zal gedeeltelijke betaling van Aurelius Group ontvangen, resteren...
Agfa zal gedeeltelijke betaling van Aurelius Group ontvangen, resterend bedrag nog onderworpen aan uitspraak onafhankelijke deskundige - gereglementeerde informatie 1 april 2025 – 17u40 CET Gereglementeerde informatie Agfa zal gedeeltelijke betaling van Aurelius Group ontvangen, resterend bedrag nog onderworpen aan uitspraak onafhankelijke deskundige Mortsel, België – 1 april 2025 – 17u40 CET Aurelius Group stemde ermee in om Agfa tegen 4 april 2025 een bedrag te betalen van 5,9 miljoen euro in verband met de verkoop van Agfa's Offset Solutions divisie aan Aurelius Group. In augustus ...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Thomas Couvreur
- Wim Hoste
- Guy Sips
Agfa Capitalizing on strategies designed for growth engines
We updated our model after in FY24 Agfa continued to capitalize on the successful strategies they designed for their growth engines. Agfa's HealthCare IT, Digital Printing Solutions and Green Hydrogen Solutions divisions all achieved record-high EBITDA figures in 4Q24. We maintain our Accumulate rating and € 1.4 Target Price as Agfa expects that the growth engines will continue to perform strongly in FY25. As usual, due to seasonality reasons, a slower start of the year is expected, followed ...
- ING Helpdesk
- ING Helpdesk
Benelux Morning Notes
Ageas: Final stages in race for bidders on ESURE (UK). Agfa-Gevaert: A strong end to the year, driven by Healthcare. Basic-Fit: FY24 broadly in line; outlook FY25 below due to more aggressive 24/7 roll-out. GBL: Preview of upcoming FY24 results. Staffing: Manpower Employment Outlook Survey 2Q25; positive but stable trend vs 1Q25
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Guy Sips
Agfa FIRST LOOK : Capitalizing on strategies designed for growth engin...
In FY24, Agfa continued to capitalize on the successful strategies they designed for their growth engines. Agfa's HealthCare IT, Digital Printing Solutions and Green Hydrogen Solutions divisions all achieved record-high EBITDA figures in 4Q24 (4Q REBITDA of 30m and 20m FY24 REBIT, resulting in above expectations FY24 results (€ 70m REBITDA vs € 76m in FY23 and € 27m REBIT vs € 31m in FY23). We maintain our Accumulate rating and € 1.4 Target Price as Agfa expects that the growth engines will con...
The Agfa-Gevaert Group in 2024: strong performance from growth engines...
The Agfa-Gevaert Group in 2024: strong performance from growth engines offsets decline in traditional film markets - regulated information Regulated information March 12, 2025 - 7:45 a.m. CET The Agfa-Gevaert Group in 2024: strong performance from growth engines offsets decline in traditional film markets The Agfa-Gevaert Group posted strong Q4 revenue growth, profitability and free cash flow, with record performances of its growth engines. The strong year-end resulted in significant full year revenue gr...
De Agfa-Gevaert Groep in 2024: sterke prestaties van de groeimarkten c...
De Agfa-Gevaert Groep in 2024: sterke prestaties van de groeimarkten compenseerden achteruitgang in traditionele filmmarkten - gereglementeerde informatie Gereglementeerde informatie 12 maart 2025 - 7:45 uur CET De Agfa-Gevaert Groep in 2024: sterke prestaties van de groeimarkten compenseerden achteruitgang in traditionele filmmarkten De Agfa-Gevaert Groep noteerde in het vierde kwartaal een sterke omzetgroei, rendabiliteit en vrije kasstroom, met recordprestatie...
Extraordinary General Meeting of Agfa-Gevaert NV - regulated informati...
Extraordinary General Meeting of Agfa-Gevaert NV - regulated information March 11, 2025 – 5.40 PM CET Regulated information Extraordinary General Meeting of Agfa-Gevaert NV Mortsel, Belgium – March 11, 2025 – 5.40 p.m. CET On Tuesday, March 11, Agfa held an Extraordinary General Meeting at its head office in Mortsel, Belgium. At the meeting, the shareholders approved the reduction of the capital of the Company to the amount of 26,000,000.00 euro by offsetting losses incurred in the amount of 160,794,611.00 euro. Also approved were clarifications...
Buitengewone Algemene Vergadering van Agfa-Gevaert NV - gereglementeer...
Buitengewone Algemene Vergadering van Agfa-Gevaert NV - gereglementeerde informatie 11 maart 2025 – 17u40 CET Gereglementeerde informatie Buitengewone Algemene Vergadering van Agfa-Gevaert NV Mortsel, België – 11 maart 2025 – 17u40 CET Op dinsdag 11 maart hield Agfa een Buitengewone Algemene Vergadering in zijn hoofdkantoor in Mortsel, België. Tijdens de vergadering keurden de aandeelhouders de vermindering van het kapitaal van de Vennootschap goed tot het bedrag van 26.000.000,00 euro, door aanzuivering van geleden verliezen ten belope van een bedrag van 160.794.611,00 euro. Voorts ...
- Guy Sips
- Michiel Declercq
- Thomas Vranken
- Wim Hoste
- Guy Sips
Agfa FIRST LOOK : Strategic agreement with BHS Corrugated & Preview
Agfa has entered into a strategic commercial agreement with BHS Corrugated, a leading supplier in the corrugated industry and OEM of single-pass inkjet print systems. Under this agreement, Agfa will exclusively supply the printing engines for the BHS Jetliner Xceed and BHS Jetliner Monochrome to BHS Corrugated and become a certified ink supplier. We also provide our forecasts for 4Q and FY24 results that are expected Wednesday. Between REBIT and EBIT we expect € 50m restructuring costs in 4Q (re...
Special General Meeting of Agfa-Gevaert NV
Special General Meeting of Agfa-Gevaert NV February 28, 2025 – 5.40 PM CET Regulated information Special General Meeting of Agfa-Gevaert NV Mortsel, Belgium – February 28, 2025 – 5.40 p.m. CET On Friday, February 28, Agfa held a Special General Meeting at its head office in Mortsel, Belgium. At the meeting, the shareholders approved the appointment of MJP Management Services BV, with permanent representative Mr. Michel Govaert, as independent director for a period of 4 years.The minutes of the Special General Meeting will be published on the p...
Bijzondere Algemene Vergadering van Agfa-Gevaert NV
Bijzondere Algemene Vergadering van Agfa-Gevaert NV 28 februari 2025 – 17u40 CET Gereglementeerde informatie Bijzondere Algemene Vergadering van Agfa-Gevaert NV Mortsel, België – 28 februari 2025 – 17u40 CET Op vrijdag 28 februari hield Agfa een Bijzondere Algemene Vergadering in zijn hoofdkantoor in Mortsel, België. Tijdens de vergadering keurden de aandeelhouders de benoeming goed van MJP Management Services BV, met als vaste vertegenwoordiger de heer Michel Govaert, als onafhankelijke bestuurder voor een periode van 4 jaar. De notulen van de Bijzondere Algemene Vergadering worden ...
- Guy Sips
- Hilde Van Boxstael
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
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