reports
- ING Helpdesk
- Hilde Van Boxstael
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Hans D’Haese
- Stijn Demeester
Gimv/Skin in the game/HOLD
We are updating our sum-of-the-parts model following the announcement of some larger deals (both exits and (follow-up) investments), the modalities of the optional stock dividend and the publication of a reviewed remuneration policy that was approved by the AGM on 25 June. The updated remuneration policy, with a focus on an enhanced involvement of the Gimv executives and non-executives in the Gimv share and the LTIP structures, is creating further alignment between the executives, non-executive ...
- ING Helpdesk
IBA – Transparency Notification - Denominator
IBA – Transparency Notification - Denominator June 30th, 2025 Publication made under article 15 of the law of May 2, 2007 relating to the disclosure of major holdings in issuers whose shares are admitted to trading on a regulated market and containing various provisions (Belgian Gazette 12.VI.2007) (hereinafter, the “Law”). Under this provision: « [...] the issuer publishes the total capital, the total number of securities conferring the right to vote and voting rights, as...
IBA – Notification de Transparence - Dénominateur
IBA – Notification de Transparence - Dénominateur 30 juin 2025 Publication effectuée en vertu de l’article 15 de la loi du 2 mai 2007 relative à la publicité des participations importantes dans des émetteurs dont les actions sont admises à la négociation sur un marché réglementé et portant des dispositions diverses (M.B. 12.VI.2007) (ci-après, la « Loi »). En vertu de cette disposition : « [...] l'émetteur publie le total du capital, le nombre total de titres conférant le droit de vote et de droits de vote, ainsi que, par catégorie, le nombre de titres conférant le droit de vote et de ...
- Anthony Dick
- Michael Foundoukidis
- Thomas Zlowodzki
- Anthony Dick
- Michael Foundoukidis
- Thomas Zlowodzki
- ING Helpdesk
- Livio Luyten
- Wim Lewi
- Thijs Berkelder
- ING Helpdesk
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Wim Lewi
- ING Helpdesk
- Hans D’Haese
- Jason Kalamboussis
Ackermans & van Haaren/Valuation update after strong share price run/H...
We downgrade our recommendation for Ackermans & van Haaren (AvH) from Buy to HOLD. The share price has had a strong run, pricing in the higher valuation of the banks, while the fair value for all other segments within AvH's portfolio on balance have remained unchanged. Therefore, given the 10% forecast total return to the current share price, we fail to see a short term catalyst to push the valuation higher and the stock is currently trading at a FY25F P/E of 13.9x, only slightly below the 10-ye...
- Guy Sips
- Michiel Declercq
- ING Helpdesk
- Dirk Verbiesen
- Marc Zwartsenburg
- CEFA
- Quirijn Mulder
- Tijs Hollestelle
Utilities and offshore wind supply chain sector/Mind the gaps
In this report we present our view on the long-term growth prospects for offshore wind in Europe, implications of the energy transition and the role of TSOs, such as Elia Group. We also focus on supply chain beneficiaries in our Benelux coverage. An increasing number of long-term framework contracts should provide improved risk-rewards to the supply chain, in our view. Furthermore, we take a deep dive into growth drivers and long-term financing for Elia Group, beyond the company's current financ...
Steri-Tek to boost sterilization capacity of its Texas-based center fi...
Steri-Tek to boost sterilization capacity of its Texas-based center fivefold with IBA’s X-ray irradiation system Louvain-la-Neuve, Belgium, June 18, 2025 – (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology and electron beam and X-ray solutions for industrial advanced irradiation, announced today it has signed a contract with Steri-Tek, a growing irradiation services provider, to install a fully-integrated Be Wide X-ray Solution. IBA’s solution will be installed at Steri-Tek’s service center near Dallas-Fort Worth Metro Area, Texas, which was op...
Steri-Tek va quintupler la capacité de stérilisation de son centre au...
Steri-Tek va quintupler la capacité de stérilisation de son centre au Texas avec un système d’irradiation par rayons X d’IBA Louvain-la-Neuve, Belgique, le 18 juin 2025 - IBA (Ion Beam Applications S.A.), le leader mondial des technologies d’accélération de particules et des solutions de pointe d'irradiation industrielle par faisceau d'électrons et rayons X, annonce aujourd'hui avoir signé un contrat avec Steri-Tek, un fournisseur de services d'irradiation en pleine croissance, pour installer une solution d’irradiation par rayons X, Be Wide, entièrement intégrée. La solution d'IBA sera ...
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