reports
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
Smartphoto Group NV: 1 director
A director at Smartphoto Group NV bought 31,109 shares at 28.097EUR and the significance rating of the trade was 68/100. 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 c...
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
- Kristof Samoy
- Lynn Hautekeete
- Sharad Kumar S.P
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- ING Helpdesk
Benelux Morning Notes
Avantium: Management team change. Belgian telcos: Extra data on Proximus brand mobile plans at no additional cost. Elia: Launch of €1.35bn rights issue and closing of €850m private placement. Randstad: Preliminary preview of 1Q25F results due 23 April. Shell plc: Very solid CMD, attractive outlook for shareholders. Tessenderlo: 2024 in-line with lowered outlook, soft 2025F guidance
- Wim Hoste
Tessenderlo FIRST LOOK: FY24 adjusted EBITDA -17%, FY25 guidance of fl...
Tessenderlo's FY24 adjusted EBITDA dropped by c17%, in line with the -15-20% guidance and broadly in line with our and consensus forecasts. The FY25 guidance points to a flat to 20% higher adjusted EBITDA, with our forecast (+12%) in line with this guidance whilst consensus (+24%) seems too high. Whilst business conditions in a number of end markets are clearly challenging, Tessenderlo is still generating a sizeable cash flow. Despite the fairly weak recent earnings momentum, we consider valuati...
- Hilde Van Boxstael
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- 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
- Thymen Rundberg
- Tijs Hollestelle
Alfen/Specific qualities for a specific audience/BUY (previously Hold)
Alfen's 4Q24 results were broadly in line with our expectations, but with the new medium-term objectives as well as the more specific 2025 guidance undershooting our below consensus expectations. We therefore cut our 2025-26 revenue estimates by 11% and 14% and our EBITDA estimates by 28% and 24% respectively. Management did bite the bullet and provided more cautious end market growth prospects for the different business segments. Equally importantly, several cost actions were taken that should ...
- Guy Sips
- Jacob Mekhael
- Sharad Kumar S.P
- Guy Sips
- Thomas Vranken
Biotalys FIRST LOOK: Good financial management; but focus could be on ...
In FY24, Biotalys optimized its capital resources, achieving a significant reduction in operating expenses while strengthening its balance sheet through a successful private placement. Looking ahead, they plan to further advance their product portfolio and develop novel modes of action, as well as expand options to scale and produce their biobased solutions. So we saw in FY24 good financial management - runway reaching into May-26 - but focus could be on some operational hiccups.
- 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...
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Alfen: Michelle Lesh steps down as CCO
This morning, Alfen announced that Michelle Lesh, who has served as Alfen's CCO since 2021, has decided to step down from her role, effective 31st March 2025. Over the past four years, Michelle was instrumental in leading Alfen’s commercial and business development efforts across all three of its b
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...
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