reports
- Jacob Mekhael
- Mathijs Geerts Danau
Life Sciences Conference 25 Sep 2025
KBC Securities will host its annual life sciences conference on 25 September in Brussels. The event will include 14 exciting companies, both public and private, from the BeNeLux ecosystem and beyond. In this conference note, we provide an overview of the attending companies, as well as an outlook on KBC Securities' life sciences broader coverage.
- Jacob Mekhael
Onward Medical Publishes ARCIM data on blood pressure regulation in Na...
Onward announced two publications of detailed results from the clinical feasibility studies of ARC-IM therapy in blood pressure regulation in Nature and Nature Medicine. The publications build on the previously reported interim results, and continue to highlight the benefit of the ARC-IM system for SCI patients that have blood pressure instability. Note that ARC-IM for blood pressure instability is the next in line indication for Onward, where a pivotal (Empower BP) study is due to start by YE25...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Livio Luyten
- Lynn Hautekeete
- Mathijs Geerts Danau
- Michiel Declercq
Concurrent Publications in Nature and Nature Medicine Highlight Advanc...
Concurrent Publications in Nature and Nature Medicine Highlight Advances in Blood Pressure Regulation after Spinal Cord Injury Using ONWARD ARC-IM Therapy Detailed results from clinical feasibility studies show immediate improvement in blood pressure stability and durable reduction of hypotensive symptoms, resulting in improved quality of life Most people living with spinal cord injury experience blood pressure instability, which represents a key unmet needToday’s concurrent publications provide clinical evidence for ARC-IM® Therapy ahead of the Company’s planned initiation of the Empowe...
Daimler Truck : Sustainability Weekly 8 - 12 September 2025
Last week, we published a report in which we propose ideas on the theme of sustainable sovereignty. Technip Energies signed an agreement to acquire the Advanced Materials & Catalysts business of Ecovyst Inc, a global leader in specialty catalysts and advanced materials. The IEA is expected to reintroduce its slow transition scenario, ‘Current Policies’, in its next World Energy Outlook, probably under pressure from the Trump administration. German Chancellor Merz has hinted at a slowdown in the ...
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
FP TOTAL SE
ENX EURONEXT NV
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EDEN EDENRED SA
TKA THYSSENKRUPP AG
DG VINCI SA
MT ARCELORMITTAL SA
NK IMERYS SA
BN DANONE SA
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
G1A GEA GROUP AG
APAML APERAM SA
HO THALES SA
FGR EIFFAGE SA
DAI DAIMLER AG
LONN LONZA GROUP AG
KOF KAUFMAN & BROAD SA
SDF K+S AG
RWE RWE AG
SOLB SOLVAY SA
NEX NEXANS SA
ERA ERAMET SA
CAP CAPGEMINI SE
ENEL ENEL SPA
WPP WPP PLC
RY4C RYANAIR HOLDINGS PLC
SOI SOITEC SA
ERG ERG S.P.A.
ANA ACCIONA SA
ELI ELIA GROUP SA/NV
IBE IBERDROLA SA
LDO LEONARDO SPA
BHP BHP GROUP LTD
ASML ASML HOLDING NV
STLA STELLANTIS N.V.
TE TECHNIP ENERGIES NV
ALAFY AFYREN
OVH OVH GROUPE
DTG DAIMLER TRUCK
DSFIR KONINKLIJKE DSM N.V.
NOVO B NOVO NORDISK A/S
EXENS EXOSENS
AAL ANGLO AMERICAN PLC
Daimler Truck : Sustainability Weekly 8 – 12 septembre 2025
La semaine passée, nous avons publié une étude où nous proposons des idées pour la thématique de la souveraineté durable. Technip a signé un accord en vue d'acquérir l'activité Advanced Materials & Catalysts d'Ecovyst Inc, leader mondial des catalyseurs spéciaux et des matériaux avancés. L'AIE devrait réintroduire son scénario de transition lente « Current Policies » dans son prochain World Energy Outlook, probablement sous la pression de l'administration Trump. Le chancelier allemand Merz a lai...
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
FP TOTAL SE
ENX EURONEXT NV
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EDEN EDENRED SA
TKA THYSSENKRUPP AG
DG VINCI SA
MT ARCELORMITTAL SA
NK IMERYS SA
BN DANONE SA
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
G1A GEA GROUP AG
APAML APERAM SA
HO THALES SA
FGR EIFFAGE SA
DAI DAIMLER AG
LONN LONZA GROUP AG
KOF KAUFMAN & BROAD SA
SDF K+S AG
RWE RWE AG
SOLB SOLVAY SA
NEX NEXANS SA
ERA ERAMET SA
CAP CAPGEMINI SE
ENEL ENEL SPA
WPP WPP PLC
RY4C RYANAIR HOLDINGS PLC
SOI SOITEC SA
ERG ERG S.P.A.
ANA ACCIONA SA
ELI ELIA GROUP SA/NV
IBE IBERDROLA SA
LDO LEONARDO SPA
BHP BHP GROUP LTD
ASML ASML HOLDING NV
STLA STELLANTIS N.V.
TE TECHNIP ENERGIES NV
ALAFY AFYREN
OVH OVH GROUPE
DTG DAIMLER TRUCK
DSFIR KONINKLIJKE DSM N.V.
NOVO B NOVO NORDISK A/S
EXENS EXOSENS
AAL ANGLO AMERICAN PLC
- Jacob Mekhael
Onward Medical Receives CE Mark certification for ARC-EX in the EU
Onward announced it has received CE Mark certification for its ARC-EX System under the European Union Medical Device Regulation (MDR), enabling commercialisation in the European Union and certain other countries. We note the label includes home use as well as clinic use which is an important driver for broader commercial uptake. Onward plans to begin EU launch in the coming weeks, starting with Germany. From our conversations with management, we don't expect a significant delta on EU pricing vs....
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Wim Lewi
ONWARD Medical Receives CE Mark for ARC-EX, Enabling Commercial Launch...
ONWARD Medical Receives CE Mark for ARC-EX, Enabling Commercial Launch of Breakthrough Spinal Cord Stimulation System in Europe THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) The CE Mark certification allows marketing for both clinic and home useFirst commercial sales of the ARC-EX® System in Europe are expected in Q4 2025The CE Mark enables commercialization in the European Union and facilitates a streamlined regulatory pathway in other countries, including in the UK and Switzerland EINDHOVEN, the Nethe...
- Jacob Mekhael
Onward Medical 1H25 update shows ARC-EX launch on track, home use labe...
Onward reported 1H25 results demonstrating positive execution with the company achieving its internal target of selling 30 devices as part of the planned phased launch of the ARC-EX device in the US. We are encouraged to learn that the company expects continued demand for the remainder of the year to meet its FY25 targets (KBCSe: 193 devices). Timelines were reiterated, and we look forward to the home use label expected by YE25, which we view as an important driver for broader commercial uptake ...
- Jacob Mekhael
- Livio Luyten
- Thomas Couvreur
ONWARD Medical Demonstrates Commercial Traction and Advances Pipeline ...
ONWARD Medical Demonstrates Commercial Traction and Advances Pipeline in the First Half of 2025 THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) EINDHOVEN, The Netherlands, Sept. 02, 2025 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD – US ADR: ONWRY), the leading neurotechnology company pioneering therapies to restore movement, function, and independence in people with spinal cord injuries (SCI) and other movement disabilities, today announces its results for the first half of 2025: Commercial ...
- Wim Hoste
Tessenderlo Feedback 1H results conference call
Below are the highlights from the conference call. Tessenderlo's 1H results positively surprised, with adj EBITDA up 8% y/y to 163.4m, which was 19% better than our forecast and 12% above consensus. The company reiterated its broad FY25 guidance range, with consensus currently at the midpoint of the range whilst KBCS estimates are at the low end of the guidance range (and will be upped somewhat). The company is using its solid balance sheet and FCF to buy back own shares. We consider valuation t...
- ING Helpdesk
Benelux Morning Notes
AEGON: Addition of €200m to existing SBB, considering US domicile, results mixed. Alfen: 19% EBITDA cut, mid-point new 2026 guidance. Flow Traders: Positive volumes, negative volatility. Kinepolis: Strong profit beat on better operating leverage, higher ticket and ITS per visitor. Recticel: Peer Rockwool 2Q25 results. Tessenderlo: Solid 1H25 beat, guidance maintained. VGP: Strong results, more news on JVs to come
- Guy Sips
- Hilde Van Boxstael
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Wim Hoste
Tessenderlo FIRST LOOK: 1H adj EBITDA +8%, FY guidance maintained
Tessenderlo's 1H results positively surprised, with adj EBITDA up 8% y/y to 163.4m, which was 19% better than our forecast and 12% above consensus. The company reiterated its broad FY25 guidance range, with consensus currently at the midpoint of the range whilst KBCS estimates are at the low end of the guidance range (and will be upped somewhat). The company is using its solid balance sheet and FCF to buy back own shares. We consider valuation to be attractive enough from maintaining our Accumul...
- Wim Lewi
EnergyVision It's a beautiful day, don't let it slip away
We initiate on EnergyVision 40 days after its successful IPO. We believe that the positive vibe from the stock market entry will reflect in its future business development. Credibility and brand recognition are key for an energy supplier. We also like its focus on the energy transition. This segment recovers from an over-excitement period (2021-22). Today's market is all about AI and Defence, while climate change is becoming more apparent with every wild fire or glacier collapse. Their customer...
- Jacob Mekhael
- Jacob Mekhael
Onward Medical Receives FDA green light to begin pivotal ARC-IM blood ...
Onward announced that it has received FDA investigational device exemption (IDE) approval to initiate the pivotal Empower BP study with the ARC-IM implantable system to address blood pressure instability after spinal cord injury (SCI). First patient enrolment in the pivotal study is anticipated before YE25, and we look forward to the detailed interim analysis from an earlier feasibility study due later this year, as well as additional details on the pivotal study design and timelines. We reitera...
ONWARD Medical Receives FDA IDE Approval to Initiate the Empower BP Pi...
ONWARD Medical Receives FDA IDE Approval to Initiate the Empower BP Pivotal Study with the ARC-IM System THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014) The investigational device exemption (IDE) allows initiation of a global pivotal study designed to assess the safety and efficacy of the ARCIM System®, an implantable neurostimulation technology developed to address blood pressure instability after spinal cord injury (SCI).Managing blood pressure instability is a major unmet need after SCI, with a signific...
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