Ackermans & van Haaren: Indian participation casts shadow over excellent result of core segments. ASML: Spotlight on export restrictions again. Basic-Fit: Dutch parliament persists in plans to raise VAT for oa Sports to 21%. CFE: Earnings quality improved in challenging markets. Eurocommercial Properties: Better numbers, guidance moved toward the higher end of the range. OCI: IFCO sale successfully closed, cash return unlocked Recticel: Solid 1H24 beat, FY guidance may disappoint. SIF Grou...
>Better than expected H1 results, but outlook maintained - Revenue is down 6% y-o-y to € 600.7m (AAOB € 532m): "The residential and office market remains disrupted by the 2022-2023 interest rate hike."EBITDA is up 8.4% y-o-y to € 21.7m (= 3.6% margin, up from 3.1% in 23H1), and above our AAOB expectation (€ 14.9m)EBIT is down 73% y-o-y to € 4.6m (= 0.7% margin, down from 2.7%), also above our AAOB expectation (€ 3.6m): "The significantly improved contributi...
>Q1 trading update: revenues down 4.4% - Revenues in 24Q1 are down 4.4% y-o-y to € 290m with Real Estate Development down 49% to € 18.6m Multitechnics up 2.1% to € 77.2m with VMA up 4.3% to € 56.1m and MOBIX stable at € 21.1m Construction & Renovation down 0.6% to € 213.5mOrder backlog is down 5.0% from y/e 2023 to € 1,205m (from € 1,269m) withMultitechnics up 22% to € 325.5m-Construction & Renovation down 12% to € 863m Other down 17...
AEGON: 1Q24, new unexpected SBB, underlying OCG better, strong ratios across. Belgian telecoms: Digi to start with mobile. CFE: Preview - forecasting revenue numbers… D'Ieteren: Belron US peer Boyd 1Q24 below consensus, warns on 2Q24 growth. Econocom: Joins consortium formed by Onepoint and Butler Industries to acquire Atos. KBC: 1Q24 better across, special dividend, capital distribution pushed back to 1H25. Syensqo: 1Q24 a touch better, positive earnings momentum confirmed. Umicore:...
>Consultant accuses CFE on having paid bribes for hotel project Chad - Belgian newspaper De Standaard this morning publishes a story titled “Consultant accuses Belgian construction company CFE of corruption with millions of euro’s bribe in Chad”. This according French consultant Michel Marstal who was involved in the project to construct the Radisson Grand Hotel in Ndjamena, the capital of Chad, and now has stepped to court.CFE won the contract to construct the h...
The start of the earnings season has halted EPS erosion, which was marked in Europe and more limited in the US. In 2024, EPS should grow twice as fast on the S&P 500 (+10%) vs the Stoxx 600 (+5%). In Europe, the fastest-growing sectors are travel & leisure, banks and industrials. - ...
L’ouverture de la saison des résultats a mis fin à l’érosion des BPA, qui était forte en Europe et plus limitée aux Etats-Unis. Les BPA devraient ainsi croître en 2024 deux fois plus vite sur le S&P 500 (+10%) que le sur le Stoxx 600 (+5%). En Europe, les secteurs ayant la meilleure dynamique sont le Travel & Leisure, les Banques et l’Industrie. - ...
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