In FY24, Jensen-Group achieved remarkable milestones, establishing new standards in both operational and financial performance. We maintain our Accumulate rating and have slightly increased our Target Price from €50 to €51.5, in line with our updated DCF, as we believe Jensen-Group can continue its consistent growth trajectory.
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...
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...
Fagron publishes its annual report 2024 Regulated information – inside informationNazareth (Belgium)/Rotterdam (The Netherlands), 6 March 2025 – 7AM CET Fagron publishes its annual report 2024 Fagron, the leading global player in pharmaceutical compounding, today publishes its annual report 2024. Discussion of the annual report and the approval of the financial statements will be put on the agenda of the annual general meeting of shareholders scheduled for 12 May 2025. The annual report is available in the official Dutch version and in English translation on Fagron’s . Further informat...
Fagron publiceert jaarverslag 2024 Gereglementeerde informatie - voorwetenschapNazareth (België)/Rotterdam (Nederland), 6 maart 2025 – 7u CET Fagron publiceert jaarverslag 2024 Fagron, de toonaangevende mondiale speler in farmaceutische bereidingen, publiceert vandaag haar jaarverslag over 2024. De bespreking van het jaarverslag en de goedkeuring van de jaarrekening zal voor de aankomende jaarlijkse vergadering van aandeelhouders van 12 mei 2025 worden geagendeerd. Het jaarverslag is in de officiële Nederlandse versie en in Engelse vertaling beschikbaar op de van Fagron. Voor meer info...
DEME and Jan De Nul joint venture signs letter of award for dredging works at Vadhavan port in India A joint venture of DEME and Jan De Nul has signed a letter of award with Indian engineering and construction company ITD Cementation for dredging and reclamation works in Vadhavan Port in India. Attachment
Joint venture met DEME en Jan De Nul ondertekent gunningsbrief voor baggerwerken in de haven van Vadhavan in India Een joint venture met DEME en Jan De Nul heeft een gunningsbrief ondertekend met het Indiase engineering- en bouwbedrijf ITD Cementation voor bagger- en landwinningswerken in de haven van Vadhavan in India. Bijlage
Post Fagron's FY24 results, we increase our 2025F-2026F REBITDA by c.3% to reflect higher organic growth and the recent acquisition of Guinama. Fagron's 2025F guidance of ‘mid- to high-single digit' organic revenue growth underlines the strong growth momentum in Fagron's main segments, set for an organic CAGR of 8% over 2022-25F at attractive margins of c.20%. We reiterate our BUY recommendation and lift our target price to €22.50 per share. Fagron remains an ING Benelux Favourite due to its str...
Ackermans & van Haaren: Record result from core segment, in line with estimate. Bekaert: In-line 2024, 2025F guidance suggests weak 1H25 momentum. Belgian telecoms: Management/liquidity crisis at DIGI Belgium. bpost: 4Q24 beats but no dividend over FY24, FY25 outlook well below. Elia: Preview FY24, capex and financing in focus. Fugro: After a nice beat, moving into FY25 dynamics. Kendrion: No recovery signals. Proximus: Neutral 4Q24, 2025 guidance. Recticel: UK Deputy PM calls fo...
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