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 PRESS RELEASE

argenx to Report Third Quarter 2025 Financial Results and Business Upd...

argenx to Report Third Quarter 2025 Financial Results and Business Update on October 30, 2025 October 23, 2025Amsterdam, the Netherlands – argenx (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases, today announced that it will host a conference call and audio webcast on Thursday, October 30, 2025 at 1:30 PM CET (8:30 AM ET) to discuss its third quarter 2025 financial results and provide a business update. A webcast of the live call may be accessed on the Investors section of the argenx website at . A r...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

CM.com: 3Q25 Trading Update – FY25 EBITDA guidance lowered. Fugro: Consensus vs INGF - deviation in 4Q, not 3Q. Heijmans: Preview - elections could cause disruption. KBC: 3Q Pre-close note: uneventful, 4Q will be the focus. Var Energi: Production lift helps materially

Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Livio Luyten
  • Thomas Couvreur
Francesca Ferragina ... (+2)
  • Francesca Ferragina
  • Michiel Vereycken

Retail Estates/Model update/BUY

We update our model with added cautiousness on the top line but leave our bottom line and NTA projections almost unchanged. Our FY26-28F earnings CAGR is at c.2%. Despite some problematic tenants (Leen Bakker, Casa and Carpetright, accounting for c.2.5% of rents), Retail Estates has a history of being capable of quick/efficient reletting and good tenant mix improvement on the back of this. We confirm our positive stance on the company, which currently trades at a 21.3% NTA discount to its FY26F ...

Hilde Van Boxstael ... (+4)
  • Hilde Van Boxstael
  • Kristof Samoy
  • Lynn Hautekeete
  • Wim Lewi
 PRESS RELEASE

Nextensa and Promobe sign long-term lease for new Terraces office buil...

Nextensa and Promobe sign long-term lease for new Terraces office building in Cloche d’Or district PRESS RELEASE         NON-REGULATED INFORMATIONLuxembourg, 20 October 2025, 7:25 AM Nextensa and Promobe sign long-term lease for new Terraces office building in Cloche d’Or district   Luxembourg 16 October 2025 - Nextensa, in partnership with Promobe through their joint venture Grossfeld, has signed a nine-year fixed lease agreement with a renowned financial institution for the entire Terraces office building, located in the Cloche d’Or district of Luxembourg.   The lease covers a...

 PRESS RELEASE

Nextensa et Promobe signent un bail à long terme pour le nouvel immeub...

Nextensa et Promobe signent un bail à long terme pour le nouvel immeuble de bureaux Terraces dans le quartier de la Cloche d’Or COMMUNIQUÉ DE PRESSE                INFORMATION NON-REGLEMENTÉELuxembourg, 20 octobre 2025, 7h25 Nextensa et Promobe signent un bail à long terme pour le nouvel immeuble de bureaux Terraces dans le quartier de la Cloche d’Or Luxembourg, 16 octobre 2025 - Nextensa, en partenariat avec Promobe via leur joint-venture Grossfeld, a signé un bail fixe de neuf ans avec une institution financière de renom pour l'ensemble de l'immeuble de bureaux Terraces, situé dans...

 PRESS RELEASE

Nextensa en Promobe tekenen langlopende huurcontract voor nieuwe kanto...

Nextensa en Promobe tekenen langlopende huurcontract voor nieuwe kantoorgebouw Terraces in de Cloche d'Or wijk PERSBERICHT NIET-GEREGLEMENTEERDE INFORMATIELuxemburg, 20 oktober 2025, 7u25 Nextensa en Promobe tekenen langlopende huurcontract voor nieuwe kantoorgebouw Terraces in de Cloche d'Or wijk   Luxemburg, 16 oktober 2025 - Nextensa heeft, in samenwerking met Promobe via hun joint venture Grossfeld, een vast huurcontract van negen jaar afgesloten met een gerenommeerde financiële instelling voor het volledige kantoorgebouw Terraces, gelegen in de wijk Cloche d'Or in Luxemburg. ...

 PRESS RELEASE

argenx to Highlight Key Data and Breadth of Immunology Innovation at 2...

argenx to Highlight Key Data and Breadth of Immunology Innovation at 2025 AANEM Annual Meeting and MGFA Scientific Session Pivotal ADAPT SERON results and interim ADAPT Jr data showcase VYVGART’s potential to treat broad set of myasthenia gravis patientsReal-world evidence and long-term data reinforce VYVGART’s sustained impact on patient outcomesMore than 40 abstracts across MG, CIDP, MMN, and IIM highlight depth of clinical evidence and ongoing commitment to rare neuromuscular disease communities October 15, 2025, 7:00 AM CEST Amsterdam, the Netherlands – argenx SE (Euronext & Nasda...

 PRESS RELEASE

argenx announces Extraordinary General Meeting of Shareholders on Nove...

argenx announces Extraordinary General Meeting of Shareholders on November 18, 2025 October 3, 2025 Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases, today announced that the Extraordinary General Meeting of shareholders will be held at 14:00 CET on Tuesday, November 18, 2025 at the offices of Freshfields LLP (Netherlands), Strawinskylaan 10, 1077 XZ Amsterdam, the Netherlands.The shareholders and all other persons with meeting rights are invited to attend the E...

Dirk Verbiesen ... (+2)
  • Dirk Verbiesen
  • Quirijn Mulder

Fugro/Low visibility for a recovery in 2026/HOLD (previously Buy)

It was not only the announcement itself but the speed at which Fugro had to come back on its original guidance. In the past 7-8 weeks, Fugro has been hit with two major negative events: the oil and gas market has turned sour on top of the struggling offshore wind market. Now, three-quarters of Fugro's revenues is facing challenges, we believe not only FY25 will suffer but now also the outlook for FY26 has weakened. This results in a materially lower EBITDA forecast than we previously had incorpo...

Wim Lewi
  • Wim Lewi

Real Estate Report, Company Profiles

Over the past month, the EPRA BELUX index has underperformed (total return) the EPRA Developed Europe index by 3.2%, the STOXX50 by 5.4%, and the BEL20 by 3.6%. This underperformance relative to the EPRA Developed Europe Index can be attributed to the stronger performance of UK real estate compared to eurodenominated stocks, as UK equities led the recovery following a selloff in August. Additionally, the BELUX region had already posted strong year-to-date performance, which limited further upsid...

Guy Sips ... (+5)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Livio Luyten
  • Wim Lewi
Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Wim Lewi
Guy Sips ... (+5)
  • Guy Sips
  • Hilde Van Boxstael
  • Mathijs Geerts Danau
  • Michiel Declercq
  • Wim Lewi
 PRESS RELEASE

Nextensa sells a retail site in Ingeldorf to the Luxembourg State

Nextensa sells a retail site in Ingeldorf to the Luxembourg State PRESS RELEASE NON - REGULATED INFORMATIONBrussels, 29 September 2025, 7:25 CEST Nextensa sells a retail site in Ingeldorf to the Luxembourg State Luxembourg, 29 September 2025 – Nextensa announces the sale of a real estate asset located in Ingeldorf to the State of the Grand Duchy of Luxembourg.  The transaction, structured as an asset deal, represents a net amount of € 19.6 million for the seller. The retail property, part of Nextensa’s portfolio since 2008, comprises a Batiself building as well as a separate extension...

 PRESS RELEASE

Nextensa cède un site commercial situé à Ingeldorf à l’Etat luxembourg...

Nextensa cède un site commercial situé à Ingeldorf à l’Etat luxembourgeois COMMUNIQUÉ DE PRESSE INFORMATION NON - RÉGLEMENTÉEBruxelles, 29 septembre 2025, 07h25 Nextensa cède un site commercial situé à Ingeldorf à l’Etat luxembourgeois Luxembourg, le 29 septembre 2025 – Nextensa annonce la vente d’un actif immobilier situé à Ingeldorf à l’État du Grand-Duché de Luxembourg.  La transaction, réalisée sous la forme d’un asset deal, représente un montant net de 19,6 millions d’euros pour le vendeur. L’actif commercial, intégré au portefeuille de Nextensa depuis 2008, comprend un bâtime...

 PRESS RELEASE

Nextensa verkoopt een retail site in Ingeldorf aan de Luxemburgse Staa...

Nextensa verkoopt een retail site in Ingeldorf aan de Luxemburgse Staat PERSBERICHT NIET - GEREGLEMENTEERDE INFORMATIEBrussel, 29 september 2025, 7u25          Nextensa verkoopt een retail site in Ingeldorf aan de Luxemburgse Staat Luxemburg, 29 september 2025 – Nextensa kondigt de verkoop aan van een vastgoedactief gelegen in Ingeldorf aan de Staat van het Groothertogdom Luxemburg.  De transactie, die werd uitgevoerd in de vorm van een asset deal, vertegenwoordigt een netto bedrag van 19,6 miljoen euro voor de verkoper. Het retailvastgoed, sinds 2008 deel uitmakend van de portefeu...

Kristof Samoy ... (+3)
  • Kristof Samoy
  • Livio Luyten
  • Wim Lewi
Kristof Samoy
  • Kristof Samoy

Fugro Trouble comes in threes

Past Monday, Fugro surprised the market with another profit warning. While the long-term outlook remains fundamentally positive, this new warning further undermines investor confidence, especially as the updated FY25 guidance was issued only seven weeks ago. In our view, the lack of visibility and the potential for further disappointments are balanced by attractive long-term demand dynamics, a solid balance sheet, and ongoing cost and capex reductions. As a result, we rate the stock Hold. Our ne...

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