Ahold Delhaize: Walmart 1Q24/25 results. Azelis: Share placement by EQT and PSP. Belgian telcos: Digi mobile prices to be well below competition, targets 10% mkt share. EVS: Slow start, sales guidance held on strong pipeline, EBIT guidance below consensus. Exmar: Stable start to the year. Prosus: Fabricio Bloisi (CEO iFood) appointed as group CEO. Sif Group: 1Q24 pretty much in line, timing shifts a bit
1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of +0.6% which was mainly driven by single-asset holdings (+1.8%) while multi-asset holdings posted a negative return of -0.1%. The 3 top performers during the period were Financière de Tubize (+8.1%), Brederode (+7.4%), and Texaf (+6.9%) while the 3 worst performers were HAL Trust (-4.6%), Gimv (-1.5%), and D'Ieteren Group (-1.2%). YTD Performance - Relative: On a YTD basis, the KBCS Holdings Univer...
We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
>Ahold Delhaize’s strategy days set across two days in the Netherlands - Ahold Delhaize will host strategy days on 22 and 23 May. On the first day, there are two options. Option one is tours of the Mechanised Albert Heijn Home Shop Centre in Barendrecht and the BOL fulfilment Centre in Waalwijk (09:45-18:00). Option two is a sustainability event (14:00-16:30). The second day consists of tours of the Albert Heijn Distribution Centre in Zaandam and the Albert Heijn XL ...
>Underlying EBIT beats consensus by 6.4% in Q1 2024 - Ahold Delhaize’s sales and underlying EBIT beat both our and consensus expectations in Q1 2024. We were surprised by the strong revenue and underlying EBIT reported in Europe, but noted that the US operations outperformed sales and EBIT expectations as well in Q1 2024. Also, Global Support Office costs came in lower than we (and consensus) had expected.US – Apart from Stop & Shop, all is fine - Com...
Ahold Delhaize reported a nice set of 1Q24 results, with comparable sales increasing 1.6% y/y to € 21.7bn (kbcse: € 21.6bn, css: € 21.5bn), while the underlying operating result increased 0.7% at constant fx to € 861m (kbcse: € 825m, css: € 824). Following the good results, Ahold reiterates its outlook. Given that we expected 1Q24 to be the softest quarter of the year, we reiterate our Buy rating and € 32.0 TP.
AB InBev: Busy BEES. Ahold Delhaize: Small beat, comforting confirmation of 2024 guidance. AMG: 1Q24 better than expected, FY guidance intact, strategic projects on schedule. Bekaert: Soft start to the year with 7% sales miss, FY guidance maintained. Euronav: Transformation at full speed. Marel: Another lacklustre quarter. Montea: 2025 guidance raised, valuations moving into positive territory. SBM Offshore: In-line Q1 trading update. Sif Group: Preview - normal quarter e...
>Q1 2024 beating expectations, driven by Europe and the US - Ahold Delhaize reported net sales and underlying EBIT of € 21,728m and € 861m in Q1 2024 (ABNe: € 21,348m and € 802m, consensus: € 21,530m and € 809m). Comparable growth amounted to 0.8% in the US and 2.8% in Europe. We had forecast 0.6% and -0.2% and consensus was 0.0% and 2.2%, respectively. The group underlying operating profit margin amounted to 4.0% (flat year on year), compared with our forecast and co...
• Sales and underlying income marginally exceeded our estimates. On FCF it had a strong start. Ahold Delhaize maintained its guidance• Based on the Q1 results, we expect to raise our estimates by some 2-3%• We maintain our Hold rating but on the back of the higher estimates we raise our TP from EUR 31 to EUR 32
>FreshDirect disposal and tobacco seen negative € 330m on sales in Q1 2024 - Ahold Delhaize is set to publish its Q1 2024 results on 8 May (07:45) and host a conference call at 10:00. Compared with Q1 2023 and Q4 2023, food inflation came down further in Q1 2024 (US and Europe). Other negative effects are the deconsolidation of FreshDirect (estimated negative sales impact of $ 175m in Q1 2024), the impact of the termination of the support programmes (SNAP) in the US, ...
Heineken Holding N.V. reports on 2024 first-quarter trading Amsterdam, 24 April 2024 – Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) publishes its trading update for the first quarter of 2024. Key Highlights Revenue €8,184 million, up 7.2%Net revenue (beia) organic growth 9.4%; per hectolitre 4.9%Beer volume organic growth 4.7%Premium beer volume organic growth 7.3%Heineken® volume growth 12.9%Gross merchandise value captured via eB2B platforms +17%Outlook for the full year unchanged; operating profit (beia) expected to grow organically low- to high-single-digit....
Bimbo Bakeries USA Earns 2024 ENERGY STAR® Partner of the Year Award for the Seventh Year in a Row Commercial Baker Honored by the EPA for Energy Management and Efficiency at 19 North American Facilities HORSHAM, Pa., April 09, 2024 (GLOBE NEWSWIRE) -- and . is proud to announce that it has received the 2024 ENERGY STAR Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency. The 2024 award marks the seventh year in row that the EPA has recognized the Company’s dedication to energy management strategy and leadership in the baking industry. “It is...
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