reports
- ING Helpdesk
Benelux Morning Notes
Ackermans & van Haaren: Another Delen Private Bank acquisition in the Netherlands. Ahold Delhaize: Peer Albertsons FY24/25 results. ASML: 1Q25 results; already weaker ahead of the tariffs. Barco: Calm before the storm. Heineken: In the hold. Melexis: Partial move to China. Staffing sector: Hays' 3Q24/25 trading update; in line. Vopak: New industrial terminal or energy transition facility? WDP: €60m investment with KDL
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
- Livio Luyten
Ackermans & van Haaren Delen Private Bank acquires Dutch Servatus Verm...
Delen Private Bank has reached an agreement with the shareholders of Servatus Vermogensmanagement to acquire 100% of the company. This acquisition aligns with Delen Private Bank's growth strategy in the Netherlands, aiming to strengthen its position as an independent player in the Dutch private banking market. Servatus manages more than €700m in assets – post transaction completion, the private banking division's Dutch AuM will cross €4.0b. This marks a significant rise from ~€1.4m at FY23-end. ...
IBA – ACQUISITION OF OWN SHARES
IBA – ACQUISITION OF OWN SHARES Immediate Release – April 14th, 2025 Louvain-la-Neuve, Belgium, April 14th, 2025 - In accordance with article 8:4 of the Royal Decree of 29 April 2019 executing the Belgian Code on Companies and Associations, Ion Beam Applications SA (“IBA”) hereby discloses information in relation to its share buyback program announced on March 24th, 2025. Under this program, IBA has requested a financial intermediary to repurchase up to 650,000 IBA ordinary shares on its behalf under the terms of a mandate with validity until December 31st, 2025, effective as from Marc...
IBA – ACQUISITION D’ACTIONS PROPRES
IBA – ACQUISITION D’ACTIONS PROPRES Publication immédiate – 14 avril 2025 Louvain-la-Neuve, Belgique, 14 avril 2025 - Conformément à l'article 8:4 de l'arrêté royal du 29 avril 2019 portant exécution du Code belge des sociétés et associations, Ion Beam Applications SA ("IBA") communique par la présente certaines informations relatives à son programme de rachat d'actions annoncé le 24 mars 2025. Dans le cadre de ce programme, IBA a demandé à un intermédiaire financier de racheter en son nom un maximum de 650.000 actions ordinaires IBA selon les termes d'un mandat valable jusqu'au 31 déc...
- Robert Jan Vos
- ING Helpdesk
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- ING Helpdesk
- Wim Lewi
Elia Group Re-initiate with new 95.0 Euro target price
This week, Elia completed its EUR 2.2bn equity package. An earlier 850m private placement (PIPE) through key investors (ATLAS Infrastructure, BlackRock, Canada Pension Plan and Publi-T) was completed with a 1.35bn rights issue at the same issue price 61.88/share. This means that all investors had access to the same conditions. In this note we re-initiate with a new target price of 95 Euro. This equates to a 20% premium the RAB25. While the dilution of the equity raise is higher than expected, s...
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- 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
- Michiel Declercq
IBA Key Highlights CMD
During the CMD, IBA provided some extra color on its strategic initiatives and recently issued medium-term guidance. While there is lot of information to digest, we believe management of the different divisions left a good impression on the group's strategic direction and new opportunities in the market. This while at the same time safeguarding the balance sheet and prioritizing profitability. Additionally, IBA also provided some first insights on the tariff impact, which it expects to be mild. ...
- ING Helpdesk
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Thomas Vranken
IBA – ACQUISITION OF OWN SHARES
IBA – ACQUISITION OF OWN SHARES Immediate Release – April 7th, 2025 Louvain-la-Neuve, Belgium, April 7th, 2025 - In accordance with article 8:4 of the Royal Decree of 29 April 2019 executing the Belgian Code on Companies and Associations, Ion Beam Applications SA (“IBA”) hereby discloses information in relation to its share buyback program announced on March 24th, 2025. Under this program, IBA has requested a financial intermediary to repurchase up to 650,000 IBA ordinary shares on its behalf under the terms of a mandate with validity until December 31st, 2025, effective as from March ...
IBA – ACQUISITION D’ACTIONS PROPRES
IBA – ACQUISITION D’ACTIONS PROPRES Publication immédiate – 7 avril 2025 Louvain-la-Neuve, Belgique, 7 avril 2025 - Conformément à l'article 8:4 de l'arrêté royal du 29 avril 2019 portant exécution du Code belge des sociétés et associations, Ion Beam Applications SA ("IBA") communique par la présente certaines informations relatives à son programme de rachat d'actions annoncé le 24 mars 2025. Dans le cadre de ce programme, IBA a demandé à un intermédiaire financier de racheter en son nom un maximum de 650.000 actions ordinaires IBA selon les termes d'un mandat valable jusqu'au 31 décem...
IBA long-term strategy presented at 2025 Capital Markets Day
IBA long-term strategy presented at 2025 Capital Markets Day Announcement of the appointment of Catherine Vandenborre as CFO Louvain-la-Neuve, Belgium, 07 April, 2025 – IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology, hosted its Capital Markets Day (CMD) today at its headquarters in Louvain-la-Neuve, Belgium, and via live webcast. During the event, Olivier Legrain (CEO), Henri de Romrée (Deputy CEO), and the IBA management team outlined the company's purpose, vision, and strategy to shareholders, investors, and analysts. They also presented ...
IBA a présenté sa stratégie à long terme lors de son Capital Markets D...
IBA a présenté sa stratégie à long terme lors de son Capital Markets Day 2025 Annonce de la nomination de Catherine Vandenborre au poste de CFO Louvain-la-Neuve, Belgique, le 7 avril 2025 - IBA (Ion Beam Applications S.A., EURONEXT), leader mondial de la technologie des accélérateurs de particules, a organisé aujourd'hui un Capital Markets Day (CMD) à son siège social de Louvain-la-Neuve, Belgique, et via webcast. Lors de l'événement, Olivier Legrain (CEO), Henri de Romrée (Deputy CEO) et l'équipe de direction d'IBA ont présenté aux actionnaires, investisseurs et analystes la mission, la ...
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