reports
- ING Helpdesk
REVISED VERSION - Benelux Morning Notes - updated to include IBA news
CFE: 1H results a bit light, FY outlook maintained. CMB.TECH: VLCC reasonable, pressure on Dry Bulk rates. dsm-firmenich: Givaudan CMD; Strategy 2030. Gimv: Investing in specialised healthcare services in the Netherlands. IBA: More sales but at lower margin
- Hilde Van Boxstael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Wim Lewi
CMB.TECH announces Q2 2025 results
CMB.TECH announces Q2 2025 results CMB.TECH ANNOUNCES Q2 2025 RESULTSMERGER WITH GOLDEN OCEAN COMPLETED ANTWERP, Belgium, 28 August 2025 – CMB.TECH NV (“CMBT”, “CMB.TECH” or “the Company”) (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) reported its unaudited financial results today for the second quarter ended 30 June 2025. HIGHLIGHTS Corporate highlights: CMB.TECH completed the merger with Golden Ocean on 20 AugustCMB.TECH is listed on NYSE (CMBT), EURONEXT Brussels (CMBT) and EURONEXT Oslo (CMBTO)Supervisory Board changes: resignation of Mr. Marc Saverys, appoint...
PRESS RELEASE: Disclosure regarding a transparency notification - Arti...
PRESS RELEASE: Disclosure regarding a transparency notification - Article 14, 1st paragraph, of the Law of 2 May 2007 relating to the disclosure of important shareholdings in listed companies Antwerp, Aug. 27, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) (“CMB.TECH”) received a transparency notification from Saverco NV on 25 Augustus 2025. Saverco NV has crossed below the transparency threshold of 65%. 1. Content of the notification from 25 August 2025 The notification dated 25 August 2025 contains the following information:...
- David Vagman
- CFA
- Maxime Stranart
UCB/1H25 results: Bimzelx, the star of the show/BUY
We reiterate our BUY rating on UCB and increase our target price from €220 to €238 following UCB's material beat in 1H25, especially driven by a strong performance of Bimzelx. We continue to see this drug as a game changer for the company, as we now model risk-adjusted peak sales of €7.8bn by 2033F. Bimzelx, alongside a continued increase in profit contribution from Evenity, should drive a Core EPS CAGR of c.+40/27% over 2024-27/30F, well ahead of its peers at +5.5% over 2024-27F. Next to this, ...
- Guy Sips
- Kristof Samoy
- Wim Lewi
PRESS RELEASE: CMB.TECH completes merger with Golden Ocean
PRESS RELEASE: CMB.TECH completes merger with Golden Ocean Antwerp, Aug. 20, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT, Euronext Brussels: CMBT and Euronext Oslo Børs: CMBTO) (“CMB.TECH”) is pleased to announce that it has successfully completed the stock-for-stock merger between Golden Ocean Group Limited (“Golden Ocean”) and CMB.TECH Bermuda Ltd., a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda Ltd. as the surviving company, and with CMB.TECH as the issuer of the merger consideration shares (the “Merger”). Approval by Golden Ocean shareholders At yesterday’s s...
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
PRESS RELEASE: Golden Ocean SGM results
PRESS RELEASE: Golden Ocean SGM results Antwerp, Aug. 19, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) notes that Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean") has announced that it held a Special General Meeting ("Golden Ocean SGM") of the shareholders of Golden Ocean today, 19 August 2025, at 09:00 (local time) at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HM 08. Golden Ocean has announced that all resolutions set out in the notice of the Golden Ocean SGM were approved by the shareho...
Press release: Publication of exemption document
Press release: Publication of exemption document Antwerp, Aug. 14, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) hereby informs that it has published an exemption document and a special report of the supervisory board, in connection with the contemplated stock-for-stock merger with Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean" and the “Merger”). Exemption Document In accordance with Article 1 (5) (f) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the “Prospect...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Lewi
CMB.TECH Business update Q2 2025 results
CMB.TECH Business update Q2 2025 results Antwerp, Aug. 14, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) (“CMBT”, “CMB.TECH” or “the Company”) will release its second quarter 2025 earnings prior to market opening on Thursday 28 August 2025 and will host a conference call at 8 a.m. EST / 2 p.m. CET to discuss the results for the quarter. Due to the proximity of the expected closing date of the contemplated stock-for-stock merger between CMB.TECH and Golden Ocean Group Limited (“Golden Ocean”), CMB.TECH already provides preliminary figures related to the Q2 2025 results...
CMB.TECH's update on the Golden Ocean merger process
CMB.TECH's update on the Golden Ocean merger process Antwerp, Aug. 11, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) (“CMB.TECH”) provides an additional market update on the progress of the contemplated stock-for-stock merger between CMB.TECH and Golden Ocean Group Limited (NASDAQ: GOGL & Euronext Oslo Børs: GOGL) ("Golden Ocean"). The transaction is structured as a stock-for-stock merger, with Golden Ocean merging with and into CMB.TECH Bermuda Ltd. ("CMB.TECH Bermuda”), a wholly-owned subsidiary of CMB.TECH, with CMB.TECH Bermuda as the surviving company ...
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: Better bottom line, mixed underlying, strong capital, SBB €250m. Ahold Delhaize: 2Q25 profitability beat thanks to insurance results. Coca-Cola Europacific Partners PLC: Fizzing along nicely. Kinepolis: July 2025 box office in US/Canada and France down, on strong comps. Vonovia: Good results, 5.6% guidance increase. UCB: Evenity continues to surprise to the upside. Zabka: Another miss on Adj. Net Income in 2Q25
- Guy Sips
- Kristof Samoy
- Michiel Declercq
- Florent Laroche-Joubert
- Roy Külter
- Steven Boumans
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
INEA FONCIERE INEA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
SHUR SHURGARD SELF STORAGE LIMITED
- Julian Dobrovolschi
- Steven Boumans
V1S ARKEMA
LHN HOLCIM AG
LR LEGRAND
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
AC ACCOR SA
ENX EURONEXT NV
VIE VEOLIA ENVIRONNEMENT SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
DG VINCI SA
SU SCHNEIDER ELECTRIC SE
RNO RENAULT SA
ADS ADIDAS AG
APAML APERAM SA
LI KLEPIERRE SA
COV COVIVIO SA
OUT1V OUTOKUMPU OYJ
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
EN BOUYGUES SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
GLE SOCIETE GENERALE S.A. CLASS A
INEA FONCIERE INEA
WHA WERELDHAVE N.V.
TEP TELEPERFORMANCE SE
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
BLND BRITISH LAND COMPANY PLC
ITRK INTERTEK GROUP PLC
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
ACX ACERINOX SA
XIOR XIOR STUDENT HOUSING N.V.
SAF SAFRAN S.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
HEI HEIDELBERGCEMENT AG
VER VERBUND AG CLASS A
ENEL ENEL SPA
ICAD ICADE SA
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
NEM NEMETSCHEK SE
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
AMS AMADEUS IT GROUP SA CLASS A
CARM CARMILA SAS
EVK EVONIK INDUSTRIES AG
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ANDR ANDRITZ AG
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
WLN WORLDLINE SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
RACE FERRARI NV
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
PIRC PIRELLI & C. S.P.A.
REY REPLY S.P.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
KBX KNORR-BREMSE AG
NEXI NEXI S.P.A.
CPR DAVIDE CAMPARI-MILANO N.V.
WDP WAREHOUSES DE PAUW SCA
UMG UNIVERSAL MUSIC GROUP NV
ECMPA EUROCOMMERCIAL PROPERTIES NV
DTG DAIMLER TRUCK
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
SHUR SHURGARD SELF STORAGE LIMITED
TEN TENARIS S.A.
- Jerôme Bodin
- Steven Boumans
APAML APERAM SA
LI KLEPIERRE SA
COV COVIVIO SA
OUT1V OUTOKUMPU OYJ
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
F3C SFC ENERGY AG
MERY MERCIALYS SA
DEC JCDECAUX SA
INEA FONCIERE INEA
VIV VIVENDI SE
WHA WERELDHAVE N.V.
SRP SRP GROUPE SA
PSM PROSIEBENSAT.1 MEDIA SE
BLND BRITISH LAND COMPANY PLC
MRN MERSEN SA
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
ACX ACERINOX SA
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
SOC SUBSEA 7 S.A.
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
COK CANCOM SE
VASTB VASTNED RETAIL BELGIUM NV
DLG DE'LONGHI S.P.A.
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
BRNL BRUNEL INTERNATIONAL N.V.
GCO GRUPO CATALANA OCCIDENTE S.A.
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
WLN WORLDLINE SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
TRE TECNICAS REUNIDAS SA
XFAB X-FAB SILICON FOUNDRIES SE
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
UMI UMICORE
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
NEXI NEXI S.P.A.
CLA CLARANOVA SE
WDP WAREHOUSES DE PAUW SCA
TE TECHNIP ENERGIES NV
AERO MONTANA AEROSPACE AG
ECMPA EUROCOMMERCIAL PROPERTIES NV
FUR FUGRO NV
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
SHUR SHURGARD SELF STORAGE LIMITED
PLNW PLANISWARE
VIRI VIRIDIEN
AMS AMS-OSRAM AG
- ING Helpdesk
Benelux Morning Notes
Alfen: Preview - muddling through? Belgian telcos: Competition Authority investigation on Proximus/Orange Belgium MoU. Brunel International: 2Q25 below, 3Q25 outlook cut, cost savings protect FY25 estimates. Euronext: Another record set of results. Fugro: Sharper V-shape? GBL: Weak NAV performance, as expected. KBC Ancora: Cooperative CERA increasing its stake to 51.24%, using excess cash. UCB: Renewed US threats to cut drug prices. Umicore: 1H25 and guide broadly in-line, new S...
- Florent Laroche-Joubert
- Roy Külter
- Steven Boumans
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
INEA FONCIERE INEA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
BYG BIG YELLOW GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
DKG DEUTSCHE KONSUM REIT-AG
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
SHUR SHURGARD SELF STORAGE LIMITED
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