reports
- Wim Hoste
Corbion Conference call feedback
Below are the highlights of the conference call. 3Q24 adj EBITDA jumped by 44% and was c. 4% above our estimate and 5% above consensus, supported by cost savings and an acceleration of organic growth. FY adj EBITDA growth guidance is upped from >18% to 22-25% which seems conservative with our and consensus forecasts even higher (at +30% and +28%). Although the recent track record has been more volatile than expected, the strategic choices made recently (sticking to PLA, a disciplined investment ...
- Michael B. Schäfer
ODDO BHF Small & MIDCAP MORNING NEWS - 10/29/2024
Temenos, the European leader in core banking solutions with significant market share with Tier 3, 4 and 5 banks, faces structural challenges that impair its growth outlook: 1/ the reticence of major banking groups to renew their core banking system; 2/ fierce competition in the digital segment; and 3/ the slowdown in the launch pace for new neo-banks. Indeed, the group is set to scale back its medium-term targets at its CMD on 12 November. Moreover, the support for the stock offered b...
- Michael B. Schäfer
ODDO BHF S all & MIDCAP MORNING NEWS - 29/10/2024
Temenos, leader européen des solutions Core Banking avec une part de marché significative auprès des banques Tiers 3, 4 et 5, fait face des défis structurels qui réduisent ses perspectives de croissance : 1/ la réticence des grands acteurs bancaires à renouveler leur Core banking system; 2/ la forte compétition sur le segment Digital et 3/ le ralentissement du rythme de lancement de nouvelles néo-banques. Aussi, le groupe devrait abaisser ses objectifs MT lors du CMD du 12 novembre. E...
- ING Helpdesk
- Robert Jan Vos
Corbion N.V. : Strong Q3 2024 results, except for PLA; FY 2024 guidanc...
>Better-than-expected volume/mix growth in both divisions in Q3 2024 - Corbion reported net sales of € 335.8m and adjusted EBITDA of € 49.6m in Q3 2024. Net sales came in 5.2% higher than consensus and 4.1% ahead of our forecast. Adjusted EBITDA was 4.4% ahead of consensus and 1.2% better than our estimate. Group organic sales growth was 9.2%, versus our estimate of 5.4% and consensus of 3.3%. Both divisions beat our and consensus growth expectations, with a particula...
- Wim Hoste
Corbion FIRST LOOK: 3Q EBITDA +44%, FY guidance upped but still looks ...
3Q24 adj EBITDA jumped by 44% and was c. 4% above our estimate and 5% above consensus, supported by cost savings and an acceleration of organic growth. FY adj EBITDA growth guidance is upped from >18% to 22-25% which seems conservative with our and consensus forecasts even higher (at +30% and +28%). Although the recent track record has been more volatile than expected, the strategic choices made recently (sticking to PLA, a disciplined investment approach on Algae, a much increased FCF focus) ma...
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Jacob Mekhael
- Thomas Vranken
Onward Medical € 50m equity raise from Ottobock and institutional inve...
Last week, Onward announced an upsized € 50m capital increase, which included a € 22.5m ticket from Ottobock, a global player in the fields of prosthetics, orthotics and exoskeleton technology, as new cornerstone investor. The new shares were issued at € 5.00 p.s., representing a 12.6% discount vs. last closing price before deal announcement. We resume our coverage with a € 9.1 TP and Buy rating (from Suspended).
Corbion reports sales growth, profit improvement, and positive free ca...
Corbion reports sales growth, profit improvement, and positive free cash flow driven by strong Q3 and upgrades full year guidance Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through application of science, today publishes its results for the first nine months of 2023. Key highlights first nine months 2024: Organic sales growth: +2.6% (Q3: +9.2%): Volume/mix: +6.1% (Q3: +11.1%)Price: -3.5% (Q3: -1.9%) Continued Operations: Sales € 972.9 million ...
ONWARD® Medical Publishes Closing of Bookbuild Offering
ONWARD® Medical Publishes Closing of Bookbuild Offering THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE (7)(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) EINDHOVEN, the Netherlands, Oct. 28, 2024 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD) (the “Company” or “ONWARD Medical”), the medical technology company creating innovative spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI), announces today the closing of its previously announced private placement with institutional ...
- Hilde Van Boxstael
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Couvreur
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- ING Helpdesk
Benelux Morning Notes
Cofinimmo: Dividend and investment neutrality reconfirmed. KPN: 3Q24 preview. Melexis: 3Q24 Preview, some auto weakness expected. Montea: Sound results, no sign of tenants slow down. Proximus: Small 3Q24 beat and guidance increase on Domestic, DIGI late arrival; Data centers sold in sale and lease back. Signify: 3Q24 results, some sequential improvement Wereldhave: Strong Dutch LFL growth, guidance confirmed Xior Student Housing: Stronger organic trends
- Wim Lewi
Montea 9M24 Results, no signs of market distress
Net Rental Income 9m24 came in line with our expectation at 83.2m vs. 83.8m. Like-for-like growth over 3Q24 stood at 3.4%. EPRA EPS of 3.53 is perfectly on track to reach the FY24 target of 4.73 (incl. 0.18 from FBI). Montea also confirmed FY25 EPRA EPS at 4.75. The lease renewal rate stood at 92%, so recent fears about tough market conditions in the Benelux are overdone. Another positive effect is a flat Net Initial yield at 5.1% after a period of regular yield expansion. LTV% remains in the sa...
- Roy Külter
- Steven Boumans
Montea : Q3 2024 results: challenges in signing new leases, leading to...
>Projects in execution declines; landbank declines; EPS outlook reiterated - Deployment of land bank decreases: € 132m capex in execution (H1: €214m); for € 260m capex ‘permit obtained, not yet pre-let’ (H1 2024: €260m); € 40m ‘pre-let, permit expected in due course’ (H1 2024: €40m). €83m in developments were delivered in Q3.Outlook recurring activities reiterated: EPRA EPS € 4.55 (FY2024) and €4.90 (FY2025).Total land bank came down to 1.8m sqm (H1 2024: 2....
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Wim Lewi
ONWARD® Medical Publishes Prospectus for Listing of New Shares
ONWARD® Medical Publishes Prospectus for Listing of New Shares THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE (7)(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) EINDHOVEN, the Netherlands, Oct. 24, 2024 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD) (the “Company” or “ONWARD Medical”), the medical technology company creating innovative spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI), announces today that it has published a prospectus for the admission to listing of 10...
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Thomas Vranken
Onward Medical € 50m equity raise from Ottobock and institutional inve...
Onward has completed an upsized € 50m capital increase, which included a € 22.5m ticket from Ottobock, a global player in the fields of prosthetics, orthotics and exoskeleton technology, as new cornerstone investor. The new shares were issued at € 5.00 p.s., representing a 12.6% discount vs. last closing price. Given KBCS' involvement in the transaction, we temporarily suspended coverage until settlement on October 28.
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