reports
- Martial Descoutures
- Oussema Denguir
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
F3C SFC ENERGY AG
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
GREEN GREENYARD NV
MONC MONCLER SPA
EDR EDREAMS ODIGEO SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
VOS VOSSLOH AG
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
AELIS AELIS FARMA SA
NCH2 THYSSENKRUPP NUCERA AG & CO.
SPG SPRINGER NATURE AG & CO. KGAA
- Martial Descoutures
- Oussema Denguir
MC LVMH MOET HENNESSY LOUIS VUITTON SE
DKSH DKSH HOLDING AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
F3C SFC ENERGY AG
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
GREEN GREENYARD NV
MONC MONCLER SPA
EDR EDREAMS ODIGEO SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
VOS VOSSLOH AG
EFIC1 EUROPEAN FINTECH IPO CO 1 BV
AELIS AELIS FARMA SA
NCH2 THYSSENKRUPP NUCERA AG & CO.
SPG SPRINGER NATURE AG & CO. KGAA
- Robert Jan Vos
Greenyard N.V. : No applause expected for Greenyard’s H1 2024/25 updat...
>Sub-par EBIT almost offset by interest expenses and taxation in H1 2024/25 - Like-for-like sales increased 6.1% in H1 2024/25 (Fresh: 6.5%, Long Fresh: 4.5%), which was ahead of our estimate (3.5% group). Adjusted EBITDA was € 94.4m, in line with our estimate. EBIT was € 31m, which is materially below our forecast. Greenyard mentions reorganisation costs (€ 4.5m), and higher depreciation. Although a notch below our estimate, finance costs are high at € 26m in H1 2024...
- ING Helpdesk
- Guy Sips
- Jacob Mekhael
- Thibault Leneeuw
- Thomas Vranken
- Guy Sips
Greenyard Confirming its ambitions of € 200m–210m Adj. EBITDA by March...
After successfully navigating its business during two challenging years in 2022 and 2023, which were marked by unseen inflation, Greenyard reached in 1H24/25 operational results in line with our model with increased net sales and a further improvement of its Adj. EBITDA driven by sustained volume growth particularly in the Fresh segment and by managing optimal price levels across as well its Fresh as in its Long Fresh division. We welcome the reduction of both debt and leverage ratio (from 2.39x...
- Hans D’Haese
- Maxime Stranart
Greenyard/Preview for 1H24/25 results/HOLD
Greenyard will publish its 1H24/25 results (1 April to 30 September) on Tuesday, 19 November, at 7am CET. During the last AGM in September, Greenyard did not provide any guidance for the current year or half year. We expect 1H24/25F sales to be up by 4.8% YoY to €2.64bn, driven by 1.7% inflation and FX effects, with 3.3% volume growth in Greenyard's Fresh segment and 2.3% volume growth in the Long Fresh segment. Greenyard is currently trading at a discount to our peer group median EV/EBITDA valu...
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Preview 3Q24 Econocom: 3Q24 impressive sales of 6%, driven by leasing Greenyard: No Fruit Farm? PostNL: Preview 3Q24F; consensus released; (implied) warning? Randstad: 3Q24 beats 2% on lower opex; outlook 4Q24 c.3/4% below consensus; better than expected; nice strategic and accretive acquisition. UCB: Regains all global rights to Bepranemab. Var Energi: Pressure on costs continues. Events Calendar
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Wim Lewi
- ING Helpdesk
- Guy Sips
- Michiel Declercq
- Guy Sips
Greenyard Continued growth in both segments; 1Q24/25 LfL sales y/y +4....
In 1Q24/25, Greenyard saw continued growth and this in both segments. Greenyard's 1Q LfL net sales increased 4.4% to € 1.34bn mainly driven by higher volumes (+2.8%), increased service sales (+1.0%) and only a slight increase in prices of 0.6% despite challenging weather conditions across Europe. Our model (Accumulate, € 9.5 Target Price) takes into account Greenyard's ambitions of reaching € 5.4bn sales and between € 200m and € 210m Adj. EBITDA in FY25/26.
- ING Helpdesk
Benelux Morning Notes
ASR: 1H small beat, KNAB add-on to Solvency 2 higher. Avantium: Down to the wire. Flow Traders: Pump up the volume. Greenyard: 1Q24/25 preview. Kendrion: Navigating difficult end markets. Montea: Solid results with no surprises, guidance reiterated. NEPI Rockcastle: Guidance raised, M&A opportunities on the radar. Tessenderlo: 1H24 Adj. EBITDA miss of 5%, lower FY guidance
Crescent NV: 1 director
A director at Crescent NV bought 23,809,524 shares at 0.010EUR and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Thomas Vranken
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Wim Lewi
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Sharad Kumar S.P
- Wim Lewi
- Jeremy Garnier
ODDO : ODDO BHF Nextcap Forum: Feedback from day three
>Feedback from 52 companies present on day three - Our 13th edition of the ODDO BHF Nextcap Forum takes place on June 4 and 5 in Paris, and on June 6 virtually. Following the third day, which took place yesterday virtually at our Paris office with 52 companies in attendance, we publish hereafter feedback for those companies present:Aedas HomesLhyfeAfyrenMaisons Du MondeAltamirMcPhy EnergyAltriMister SpexAtresmediaNein...
A1XEH4 CROSSJECT SA
TNG TRANSGENE SA
FGA FIGEAC AERO SA
BLC BASTIDE LE CONFORT MEDICAL SA
KCO KLOECKNER & CO SE
ALTR ALTRI SGPS SA
SWP SWORD GROUP SE
SRP SRP GROUPE SA
AUB AUBAY SA
NTG NETGEM SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
FNAC FNAC DARTY SA
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
BAMNB KONINKLIJKE BAM GROEP NV
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
GREEN GREENYARD NV
MCPHY MCPHY ENERGY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
LTA ALTAMIR ACT PORTEUR
INSD VERIMATRIX SA
SIFG SIF HOLDING NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
VLTSA VOLTALIA
HBH HORNBACH HOLDING AG & CO. KGAA
FFARM FORFARMERS
TRE TECNICAS REUNIDAS SA
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
HOME NEINOR HOMES SA
MDM MAISONS DU MONDE SA
SMCP SMCP SA
AVTX AVANTIUM NV
RBO ROCHE BOBOIS INTERNATIONAL SAS
ALKAL KALRAY SA
AEDAS AEDAS HOMES SA
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
THEP THERMADOR HOLDING SA
ALCUR ARCURE SA
TOM2 TOMTOM NV
CLA CLARANOVA SE
S30 SOLUTIONS 30 SE
ZEL PHARMA MAR SA
SOL SOLTEC POWER HOLDINGS
BLV BELIEVE SA
MRX MISTER SPEX SE
ALAFY AFYREN
FORSE FORSEE POWER SA
HDF HYDROGENE DE FRANCE
ALVGO VOGO SA
WAGA WAGA ENERGY SA
ALHAF HAFFNER ENERGY SA
EAPI EUROAPI
GVOLT GREENVOLT - ENERGIAS RENOVAVEIS S.A.
LHYFE LHYFE S.A.
- Guy Sips
Greenyard Creating a promising platform for further growth
We updated our Greenyard model and increase our Target Price to € 9.5 (was € 8.5), in line with our new DCF-valuation, after Greenyard posted a nice set of FY23/24 results in a still challenging environment, characterized by a second year of inflation. Greenyard showed record-high results in FY23/24 and we welcomed Net Debt dropped by another 4% to €266.3m, despite the impact of inflation on the value of the inventories and more investments, resulting in a leverage dropping y/y from 2.18x to 1...
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