reports
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Wim Lewi
- Charlotte Vaisse
- Philippe Ourpatian
ODDO : PFAS and furious!
PFAS refers to a large group of forever chemicals. Pressure from regulators, investors, consumers and ESG rating agencies is contributing to the materialisation of the reputational risk incurred by companies, first and foremost producers (the chemical companies Arkema, BASF, Solvay) and, to a lesser extent, some past users of regulated PFAS (SGO and SEB for PFOA). In contrast, we have identified eight stocks in our coverage for which PFAS decontamination constitutes an opportunit...
- Charlotte Vaisse
- Philippe Ourpatian
ODDO : PFAS and furious !
Les PFAS, désignent une famille nombreuse de polluants éternels. La pression des régulateurs, investisseurs, consommateurs et des agences de notations ESG participe à la matérialisation du risque réputationnel encouru par les sociétés, au premier rang desquels figurent les producteurs (les chimistes Arkema, BASF, Solvay) et dans une moindre mesure, certains utilisateurs passés de PFAS réglementés (SGO et SEB pour le PFOA). A l'inverse, nous identifions huit valeurs de notre unive...
- Guy Sips
- Hilde Van Boxstael
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Michiel Declercq
- Wim Lewi
- Guy Sips
- Thomas Couvreur
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Sharad Kumar S.P
- Wim Lewi
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Kristof Samoy
NX Filtration Concluded refinancing buys extra time – model update
Early January NX Filtration issued a second profit warning in 6 months time and communicated a 1.5 year delay in the roll-out of its business plan. This prompted a refinancing for the loss making filtration pioneer. Late March the company announced it secured debt financing of at least €20m and completed a €25.5m capital increase via ABB. Last week, the CFO announced to step down to pursue his career outside the company.
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 03/04/2024
La solidité de l’économie américaine et l’amélioration du sentiment macroéconomique en Europe nous conduisent à maintenir nos calls gagnants : long USA vs Europe et - en Europe - long Cycliques vs Défensives. Toujours en Europe, nous basculons long Value vs Growth et modifions en profondeur notre allocation sectorielle ; nous y intégrons également une analyse chartiste. Nos secteurs préférés sont : Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Tra...
- Olfa Taamallah
- Yan Derocles
ODDO BHF Small & MIDCAP MORNING NEWS - 04/03/2024
America’s solid economy and Europe’s improving macro sentiment have prompted us to reiterate our winning calls: long USA vs Europe and - within Europe - long Cyclicals vs Defensives. Also within Europe, we are switching to long Value vs Growth and have overhauled our sector allocation ; furthermore it nows incorporates a chart analysis. Our favourite sectors are as follows: Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Travel & Leisure, Constructio...
- Usama Tariq
- Wim Gille
NX Filtration : Timely cash raise enables sufficient liquidity for now
>NX Filtration raises cash with a debt and equity offering - - NX Filtration has announced that it successfully secured at least €20 million debt financing while also raising a gross amount of €25.5m in an equity raise via and accelerated bookbuild. The company successfully placed 7.832m new ordinary shares at a price of €3.255 per new share, resulting in gross proceeds of approximately €25.5 million. According to the management, net proceeds from the private placement an...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Sharad Kumar S.P
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Thomas Vranken
- Wim Hoste
- Fernand de Boer
NX Filtration - Strengthening its financial position
NX Filtration strengthened its financial position by raising EUR 25.5m equity and issuing at least EUR 20m debt.This EUR 45m cash inflow should allow NX Filtration to execute its strategy and show the market that the strong demand will convert into real orders. Although we were expecting a different financing, we are pleased that the overhang of a capital increase is taken away.We reiterate our Buy rating but due to the capital increase our DCF based TP comes down from EUR 5.50 to EUR 5.20.
- Fernand de Boer
NX Filtration - Visibility hit, but confidence in technology intact
In January NX warned that due to slow decision processes at its customers the rollout of its business plan experienced a delay of some 1.5 years. This news not only raised questions on the visibility of the roll-out, but also the financial position became an issue, sending the share price to even a low of EUR 2.55. Based on the news and financial reports we have reviewed our estimates and TP which we cut from EUR 11.97 to EUR 5.50. However, we maintain our Buy rating, as we gained even more con...
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Vranken
- Wim Lewi
- Usama Tariq
- Wim Gille
- Usama Tariq
- Wim Gille
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