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Jean Danjou ... (+3)
  • Jean Danjou
  • Oliver Metzger
  • Thomas Zlowodzki

ODDO BHF Small & MIDCAP MORNING NEWS - 02/05/2024

Nous sortons GALP de notre liste ODDO BHF European Large Caps. La valeur a réalisé une performance de +31,3% depuis son entrée le 20 mars dernier. Notre analyste adopte ce jour une opinion Neutre (vs Surperformance) sur la valeur qui a atteint notre objectif de cours. - ...

Gerardo Ibanez ... (+2)
  • Gerardo Ibanez
  • Steven Boumans

Aedifica SA : Q1 2024 results: Stable fair values after five quarters ...

>Outlook reiterated, stable fair values, negative rent negotiations and pipeline continues to decline - FY2024 outlook EPRA EPS 4.70 or €223m EPRA earnings reiterated.Rental income +3.3% on a like-for-like basis (FY2023: 5.2% and 3% in FY2024 budget) broken down by +3.4% indexation, -0.7% rent negotiations and +0.6% fx changes.Fair value of investment portfolio increased +0.02%, after five consecutive quarters of negative portfolio valuations. Belgian (-0.5%...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aedifica: First sign of portfolio valuation stabilization. ArcelorMittal: Solid 1Q24 EBITDA beat, softer FCF reflects WC and CAPEX phasing. Belgian telcos: Peer Telenet 1Q24 results, still weak commercial performance. dsm-firmenich AG: Vita-still not-min. IBA: Contract to install a P1 system in Connecticut. KPN: VodafoneZiggo 1Q24 results confirm fixed losses, mobile weaker QoQ. Shell plc: Good start to the year

Guy Sips ... (+8)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Lynn Hautekeete
  • Michiel Declercq
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi
Lynn Hautekeete
  • Lynn Hautekeete

Aedifica EPRA result slightly ahead of guidance

Aedifica reports 1Q24 results and beats our EPRA earnings estimates on the back of slightly lower financial charges and mainly lower taxes. The FY24 guidance remains unchanged so the lower taxes are likely due to timing differences. Over FY24-26 we forecast flat earnings growth based on the current communicated pipeline. In 1Q24 Aedifica continued its wait and see modus at a debt ratio close to 40%. Over the past 1.5 month the share price recovered by approximately 17%, beating the ERPRA index. ...

Guy Sips ... (+11)
  • Guy Sips
  • Jacob Mekhael
  • Kristof Samoy
  • Lynn Hautekeete
  • Michiel Declercq
  • Sharad Kumar S.P
  • Thibault Leneeuw
  • Thomas Couvreur
  • Thomas Vranken
  • Wim Hoste
  • Wim Lewi

Dynamic Top Pick List Update May 2024 : Adding Fugro, Removing Arcadis

In this May edition of our Dynamic Top Pick List we replace Arcadis by Fugro. Arcadis continues to deliver consistently on its promises and is working hard to realise its 2026 margin targets via cross selling, leveraging its global engineering platform and numerous self-help measures. In spite of this we remove Arcadis from our Dynamic Top Pick List as the recent & strong share price performance leaves little room for further short term triggers As a service provider to the energy industry, Fu...

 PRESS RELEASE

ARKEMA ACQUIERT L’ACTIVITÉ ADHÉSIFS DE LAMINATION POUR EMBALLAGES FLEX...

COLOMBES, France--(BUSINESS WIRE)-- Regulatory News : Arkema (Paris:AKE) a signé un accord portant sur l’acquisition de l'activité adhésifs de lamination pour emballages flexibles de Dow, l'un des principaux producteurs d'adhésifs pour le marché de l'emballage flexible, générant un chiffre d'affaires annuel d'environ 250 millions de dollars US. Le projet d’acquisition élargira significativement le portefeuille de solutions d'Arkema pour l'emballage flexible, permettant au Groupe de devenir un acteur clé sur ce marché attractif. Les adhésifs de lamination pour emballages flexibles de Dow of...

 PRESS RELEASE

Aedifica NV/SA: Interim financial report – Q1 2024

Aedifica NV/SA: Interim financial report – Q1 2024 Please find below Aedifica’s interim financial report for the 1st quarter of the 2024 financial year. Robust operational performance driving strong results ahead of budget EPRA Earnings* amounted to €59.8 million (+8% compared to 31 March 2023), or €1.26/shareRental income increased to €82.0 million (+8% compared to 31 March 2023)3.3% increase in rental income on a like-for-like basis in the 1st quarter of the year Real estate portfolio* of nearly €6 billion as at 31 March 2024 623 healthcare properties for more than 47,300 end users ac...

Amal Aboulkhouatem
  • Amal Aboulkhouatem

Aedifica - In-line 1Q results

Rental income reached EUR 82m, up 8% YoY and 3.3% LfL.Occupancy remains at 100%.EBIT margin at 84.6%.EPRA profit stands at EUR 59.8m, up 8% YoY (EUR 1.26 per share, -9.4% YoY due to higher number of shares outstanding).Aedifica recorded a positive portfolio adjustment of EUR 0.9m in Q1.EPRA NTA stood at EUR 75.59 per share, up 1.9% over 3M.We maintain our ‘Hold' rating and reiterate our EUR 66.00 TP.

Richard Williamson
  • Richard Williamson

Esker - Targeting margin recovery in FY24

Esker reported FY23 results in line with our expectations. Revenue grew 12% (14% constant currency) while inflationary effects and sales commissions on bookings outperformance in H223 resulted in operating profit declining 16% y-o-y. The high level of contracts signed towards the end of FY23 provide good support for revenue growth in FY24 and FY25 and measures taken by management to improve productivity should drive margin expansion over our forecast period back into the company’s target range o...

 PRESS RELEASE

GTT: NOTICE OF AVAILABILITY OF THE 2023 UNIVERSAL REGISTRATION DOCUMEN...

GTT: NOTICE OF AVAILABILITY OF THE 2023 UNIVERSAL REGISTRATION DOCUMENT NOTICE OF AVAILABILITY OF THE 2023 UNIVERSAL REGISTRATION DOCUMENT Paris – April 30, 2024 - The 2023 universal registration document of GTT (Gaztransport et Technigaz), a technology and engineering company specialised in the design of membrane containment systems for the transportation and storage of liquefied gas, was registered with the French stock market authorities (AMF) on April 29, 2024. The French version is publicly available free of charge, in accordance with applicable legislation, and may be downloade...

 PRESS RELEASE

GTT : MISE A DISPOSITION DU DOCUMENT D’ENREGISTREMENT UNIVERSEL 2023

GTT : MISE A DISPOSITION DU DOCUMENT D’ENREGISTREMENT UNIVERSEL 2023 MISE A DISPOSITION DU DOCUMENT D’ENREGISTREMENT UNIVERSEL 2023 Paris – Le 30 avril 2024 - Le Document d’enregistrement universel 2023 de GTT (Gaztransport et Technigaz), société de technologie et d’ingénierie spécialisée dans la conception de systèmes de confinement à membranes pour le transport et le stockage du gaz liquéfié, a été déposé auprès de l’Autorité des Marchés Financiers le 29 avril 2024. Il est tenu gratuitement à la disposition du public dans les conditions prévues par la réglementation en vigueur et peut ê...

 PRESS RELEASE

Participation notification by UBS Group AG

Participation notification by UBS Group AG Brussels, April 29, 2024, 08:30 CEST - Regulated information In line with Belgian transparency legislation (Law of May 2, 2007), UBS Group AG recently sent to Solvay the following transparency notification indicating that they crossed the threshold of 5%.  The notification, dated April 23, 2024, contains the following information: Reason for the notification: acquisition or disposal of financial instruments that are treated as voting securities.  Notified by: A parent undertaking or a controlling person Date on which the threshold is ...

 PRESS RELEASE

Notification de participation par UBS Group AG

Notification de participation par UBS Group AG Bruxelles, le 29 avril 2024 - 08h30 CET - Information régulée Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), UBS Group AG a envoyé récemment à Solvay la notification de transparence suivante indiquant avoir franchi le seuil de 5%.  La notification, datée du 23 avril 2024, contient l’information suivante: Motif de la notification: acquisition ou cession d’instruments financiers conférant le droit de vote.  Notification par: une entreprise-mère ou une personne détenant l...

 PRESS RELEASE

Participatiemelding van UBS Group AG

Participatiemelding van UBS Group AG Brussel, 29 april 2024 - 8u30 CET - Gereglementeerde informatie In overeenstemming met de Belgische transparantiewetgeving (Wet van 2 mei 2007) heeft UBS Group AG onlangs de volgende transparantiekennisgeving naar Solvay gestuurd om aan te geven dat ze de drempel van 5% heeft overschreden.  De kennisgeving, gedateerd 23 april 2024, bevat de volgende informatie: Reden voor de kennisgeving: verwerving of overdracht van stemrechtverlenende effecten Kennisgeving door: een moederonderneming of een controlerende persoon  Datum waarop de drempel ...

 PRESS RELEASE

Solvay publishes notice of 2024 Annual General Meeting

Solvay publishes notice of 2024 Annual General Meeting Brussels, April 26, 2024, 8:00am CEST - regulated information Solvay today published materials for its next Ordinary General Shareholders’ Meeting, which will be held on Tuesday May 28, 2024 at the Event Lounge Conference  Center, Boulevard Général Wahis 16/F, 1030 Brussels, at 10.30 am CEST. All documents relating to this meeting are now available on .  Shareholders will be asked to vote on a number of , among others: the approval of the financial statements for the financial year 2023; the approval of a total gross di...

 PRESS RELEASE

Solvay publie la convocation à son Assemblée Générale annuelle de 2024

Solvay publie la convocation à son Assemblée Générale annuelle de 2024 Bruxelles, le 26 avril 2024 - 8h00 CEST  -  information réglementée Solvay annonce la publication des documents relatifs à sa prochaine Assemblée Générale Ordinaire, qui se tiendra le mardi 28 mai 2024 à 10h30 CEST à l’Event Lounge Conference Center situé Boulevard Général Wahis 16/F, 1030 Bruxelles. Tous les documents relatifs à cette assemblée sont désormais disponibles sur le de l’entreprise. Les actionnaires seront invités à voter sur un certain nombre de , parmi lesquelles: l’approbation des comptes annuels ...

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