reports
- Carole Braudeau
- Carole Braudeau
- ING Helpdesk
- Hilde Van Boxstael
- Kristof Samoy
- Wim Hoste
- Wim Lewi
Ontex koopt tot 1,5 miljoen aandelen in
Ontex koopt tot 1,5 miljoen aandelen in Voorkennis Aalst, België, 25 november 2024 – Ontex Group NV, een toonaangevende internationale ontwikkelaar en producent van persoonlijke verzorgingsproducten, kondigt de lancering aan van een inkoopprogramma om maximaal 1,5 miljoen eigen aandelen te verwerven, hetgeen 1,8% van het aantal uitgegeven aandelen vertegenwoordigt. De aandelen die via het programma worden verworven, zullen bijdragen om aan de verplichtingen van Ontex te voldoen onder zijn huidige en toekomstige langetermijnbonusplannen. De aandeleninkoop zal worden gespreid over een per...
- Jørgen Lian
CMB.TECH (Hold, TP: USD14.10) - Diversification at a cost
CMB.TECH’s diversified and ‘future-proof’ approach may prove attractive in steadily managing shipping cycles, changing fundamentals and stricter environmental regulations. However, diversification also comes at a price, and its heavy newbuild programme is straining its balance sheet and the outlook for dividends. Thus, we currently see greater upside potential in its pure crude tanker peers. We reiterate our HOLD and have lowered our target price to USD14.1 (16.3).
- ING Helpdesk
Benelux Morning Notes
Aalberts: Building already bottoming, industry tough. Air France-KLM: Nobody helps. Alfen: Covenant agreement, hikes output Smart Grid. AMG: Sweet for 2024F, sour for 2025F. ArcelorMittal: 3Q24 EBITDA beats by 6%, FCF solid. BAM: 3Q beats, on its way to reach FY guidance. CMB.TECH: 3Q and FY24 reasonable but then more challenges. D'Ieteren: EGM and dividend dates announced; Belron US peer Boyd disappointing 3Q24. GBL: Double-digit TSR expected over 2024-27F. KBC: 3Q better acro...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Hoste
Ontex Share price reaction overdone -Model update
Ontex' share price retreated significantly upon the release of 3Q results, which showed weaker than expected like-for-like top line growth (+1.7% vs +4% consensus) and a reduction of the FY24 like-for-like revenue growth guidance from 4-5% to 2-3%. The issue appears to be of a temporary nature being that Ontex was a bit too bullish previously on the ramp up pace of the new US contracts which were held back by various technical reasons. Whilst the guidance reduction appears a bit strange (coming ...
- Carole Braudeau
Credit Morning 10/25/2024
Ontex: Q3 24 call notes: “Actively” looking at refinancing… but no further specificationOrano: announcement of a € 300m capital increase and suspension of activities in NigerArdagh: another significant PW in glassNexity: Q3 at last encouraging with positive signals and a new divestment announcedValeo revises its 2024 guidance and suspends its 2025 objectives in the face of an increasingly difficult environment>...
DG VINCI SA
SK SEB SA
NXI NEXITY SA CLASS A
SW SODEXO SA
MF WENDEL SE
MERY MERCIALYS SA
CGM CEGEDIM SA
FNAC FNAC DARTY SA
FR VALEO SE
BAYN BAYER AG
ONTEX ONTEX GROUP N.V.
WBD WEBUILD S.P.A.
HLAG HAPAG-LLOYD AG
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
SPM SAIPEM S.P.A.
- Carole Braudeau
Morning Crédit 25/10/2024
Ontex : Q3 24 call notes: “Actively” looking at refinancing… but no further specificationOrano : annonce d’une augmentation de capital de 300 m EUR et de la suspension des activités au NigerArdagh : encore un PW significatif dans le verreNexity : un T3 enfin encourageant avec des signaux positifs et une nouvelle cession annoncéeValeo révise sa guidance 2024 et suspend ses objectifs 2025 face à un environnement de plus en plus difficile>...
DG VINCI SA
SK SEB SA
NXI NEXITY SA CLASS A
SW SODEXO SA
MF WENDEL SE
MERY MERCIALYS SA
CGM CEGEDIM SA
FNAC FNAC DARTY SA
FR VALEO SE
BAYN BAYER AG
ONTEX ONTEX GROUP N.V.
WBD WEBUILD S.P.A.
HLAG HAPAG-LLOYD AG
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
SPM SAIPEM S.P.A.
- Wim Hoste
Ontex Conference call feedback
Below are the highlights of the 3Q conference call. Ontex 3Q LFL top line growth of +1.7% was slightly lower than market consensus (whilst close to KBCS) and the company did also lower its FY24 LFL top line guidance (from 4-5% growth to 2-3%), citing some temporary elements on the ramp up of new US customers. 3Q adjusted EBITDA jumped 29% and was close to our and consensus forecasts, with FY24 adjusted EBITDA margin maintained at 12% which is the 9M24 level and also baked into our and consensus ...
- Usama Tariq
- Wim Gille
SDG SYNERGIE SA
KORI KORIAN SA
INF INFOTEL SA
BLC BASTIDE LE CONFORT MEDICAL SA
AUB AUBAY SA
NTG NETGEM SA
MRN MERSEN SA
GOE GROUPE GORGE SA
BB SOCIETE BIC SA
ERA ERAMET SA
SAVE SAVENCIA SA
VRNL VERNEUIL PARTICIPATIONS
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CTAC CTAC N.V.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
BRNL BRUNEL INTERNATIONAL N.V.
ONTEX ONTEX GROUP N.V.
WAF SILTRONIC AG
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VLTSA VOLTALIA
LFDE LA FRANCAISE DE L'ENERGIE SA
MDM MAISONS DU MONDE SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
SPM SAIPEM S.P.A.
- Carole Braudeau
Credit Morning 10/24/2024
Constellium: challenging conditions led to disappointing Q3 results and guidanceVerallia is already marketing new 2032 bonds, a precocity that raises questions.Eramet: Q3 2024 sales below expectations and acquisition of Tsingshan's lithium stake for USD 699mKering: EBIT guidance revised down again after very poor Q3Auchan to sell its Russian subsidiary (La Lettre)>...
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
RNO RENAULT SA
ATO ATOS SE
MTX MTU AERO ENGINES AG
ORA ORANGE SA
KORI KORIAN SA
KER KERING SA
ERA ERAMET SA
ONTEX ONTEX GROUP N.V.
TIT TELECOM ITALIA S.P.A.
VLTSA VOLTALIA
DUFN DUFRY AG
VRLA VERALLIA SAS
SPM SAIPEM S.P.A.
- Usama Tariq
- Wim Gille
SDG SYNERGIE SA
KORI KORIAN SA
INF INFOTEL SA
BLC BASTIDE LE CONFORT MEDICAL SA
AUB AUBAY SA
NTG NETGEM SA
MRN MERSEN SA
GOE GROUPE GORGE SA
BB SOCIETE BIC SA
ERA ERAMET SA
SAVE SAVENCIA SA
VRNL VERNEUIL PARTICIPATIONS
VASTN VASTNED RETAIL NV
ERG ERG S.P.A.
CTAC CTAC N.V.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
BRNL BRUNEL INTERNATIONAL N.V.
ONTEX ONTEX GROUP N.V.
WAF SILTRONIC AG
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VLTSA VOLTALIA
LFDE LA FRANCAISE DE L'ENERGIE SA
MDM MAISONS DU MONDE SA
OVH OVH GROUPE
EBUS EBUSCO HLDG NV
SPM SAIPEM S.P.A.
- Carole Braudeau
Morning Crédit 24/10/2024
Constellium : Challenging conditions led to disappointing Q3 results and guidanceKering : nouvelle révision en baisse de la guidance d’EBIT après un très mauvais T3Verallia commercialise déjà des nouvelles obligations 2032, une précocité qui interpelleEramet : CA T3 2024 inférieur aux attentes et acquisition de la part de Tsingshan dans le lithium pour 699 m USD Auchan s'apprêterait à vendre sa filiale en Russie (La Lettre)>...
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
CA CARREFOUR SA
BVI BUREAU VERITAS SA
RNO RENAULT SA
ATO ATOS SE
MTX MTU AERO ENGINES AG
ORA ORANGE SA
KORI KORIAN SA
KER KERING SA
ERA ERAMET SA
ONTEX ONTEX GROUP N.V.
TIT TELECOM ITALIA S.P.A.
VLTSA VOLTALIA
DUFN DUFRY AG
VRLA VERALLIA SAS
SPM SAIPEM S.P.A.
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Robert Jan Vos
- Usama Tariq
Ontex : Ontex reports Q3 results which were a tad bit below estimates
>Slight miss on overall sales whereas Core Margins came in line with the market - Ontex Group reported a 2% miss on sales for Q3 which came at €536.2m, while being 2% lower than the median company compiled consensus (css) of €548.3m. On a like for like (lfl) basis, total sales were up 1% year-on-year (yoy). In Core markets (continued operations), Ontex realised a 2% miss on consensus (css: € 478.3m) and is 2.4% higher yoy than Q3 2023 (€ 456.9m) whereas like-for-like ...
- Wim Hoste
Ontex FIRST LOOK: 3Q EBITDA +29%, FY LFL top line guidance slightly lo...
Ontex 3Q LFL top line growth of +1.7% was slightly lower than market consensus (whilst close to KBCS) and the company did also lower its FY24 LFL top line guidance (from 4-5% growth to 2-3%), citing some temporary elements on the ramp up of new US customers. 3Q adjusted EBITDA jumped 29% and was close to our and consensus forecasts, with FY24 adjusted EBITDA margin maintained at 12% which is the 9M24 level and also baked into our and consensus forecasts for FY24. With the recent agreement to div...
- ING Helpdesk
Benelux Morning Notes
Acomo: Hot Chocolate. Azelis: 3Q24 not flawless, but organic growth is back. BE Semiconductor Industries: 3Q24 results, putting its money where its mouth is. Ebusco: Rigorous turnaround plan, but many liquidity related concerns; recommendation moves to Under Review. GBL: Looking to take vitamins. Kinepolis: Solid 3Q24 attendance, in line, confident in the movie outlook for 4Q24, 2025. Ontex: Guidance Stumble. Unilever: Momentum maintained. Vastned: End of the disposal program, wa...
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