reports
- Martijn Den Drijver
Aalberts reports the progress of its share buyback programme 16 – 20 M...
Aalberts reports the progress of its share buyback programme 16 – 20 March 2026 Utrecht, 24 March 2026 Aalberts today reports that it has repurchased 294,354 of its own shares in the period from 16 March 2026, up and including 20 March 2026, for an amount of EUR 9,114,694.66, so at an average share price of EUR 30.97. This is part of the share buyback programme as announced on 26 February 2026, for a total amount of EUR 75 million. The repurchase of shares commenced on 27 February 2026 and will be completed no later than 9 October 2026. It is intended that the shares will be cancelled fol...
Aalberts reports the progress of its share buyback programme 09 – 13 ...
Aalberts reports the progress of its share buyback programme 09 – 13 March 2026 Utrecht, 17 March 2026 Aalberts today reports that it has repurchased 176,519 of its own shares in the period from 09 March 2026, up and including 13 March 2026, for an amount of EUR 5,698,029.06, so at an average share price of EUR 32.28. This is part of the share buyback programme as announced on 26 February 2026, for a total amount of EUR 75 million. The repurchase of shares commenced on 27 February 2026 and will be completed no later than 9 October 2026. It is intended that the shares will be cancelled fo...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Lynn Hautekeete
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Kristof Samoy
Aalberts Better early than sorry – upgrade following portfolio reset
Aalberts reported FY25 results showing continued pricing discipline and improved working capital management. While Building is bottoming out, Semicon will lead the earnings recovery. In the meantime, ambitious (German) infrastructure and defence spending plans should prepare the rebound in Industry from 2027 onwards. Strengthened confidence in our forecasts and an attractive valuation underpin our upgrade to Accumulate (from Hold) with a new €39 TP (from €33).
Aalberts N.V.: Aalberts completes divestment Broen in Denmark
Aalberts N.V.: Aalberts completes divestment Broen in Denmark Utrecht, 12 March 2026 Aalberts N.V. announces the successful completion of regulatory approvals and closing conditions, finalising the divestment of BROEN A/S (Broen), headquartered in Denmark, generating an annual revenue of approximately EUR 82 million with 500 employees. In December 2025, Aalberts announced that an agreement was reached to divest 100% of the shares of Broen. Broen will become part of new strategic ownership, fully active in its core business. We would like to thank all employees of Broen for their loyalty a...
Aalberts reports the progress of its share buyback programme 02 – 06 M...
Aalberts reports the progress of its share buyback programme 02 – 06 March 2026 Utrecht, 10 March 2026 Aalberts today reports that it has repurchased 166,300 of its own shares in the period from 02 March 2026, up and including 06 March 2026, for an amount of EUR 5,602,990.88, so at an average share price of EUR 33.69. This is part of the share buyback programme as announced on 26 February 2026, for a total amount of EUR 75 million. The repurchase of shares commenced on 27 February 2026 and will be completed no later than 9 October 2026. It is intended that the shares will be cancelled fol...
Aalberts reports the progress of its share buyback programme 27 Februa...
Aalberts reports the progress of its share buyback programme 27 February 2026 Utrecht, 3 March 2026Aalberts today reports that it has repurchased 31,600 of its own shares on February 27, 2026, for an amount of EUR 1,114,028.86, so at an average share price of EUR 35.25. This is part of the share buyback programme as announced on 26 February 2026, for a total amount of EUR 75 million. The repurchase of shares commenced on 27 February 2026 and will be completed no later than 9 October 2026. It is intended that the shares will be cancelled following repurchase.Up to and including 27 February 2...
- Tijs Hollestelle
REVISED VERSION - Aalberts/Semi business preparing for a cyclical uptu...
We reiterate our BUY rating and raise our target price from €38.75 to €39.50. Although the FY25 results were a bit messy and contained a lot of one-off items, we became more bullish on the story after the investor call as the medium-term outlook improved materially in our view. Firstly, management provided more granularity about the pending recovery in the Semi division – the outlook for 2027 is very strong and to us it sounds that timing of the shipments is the only factor of uncertainty when t...
- Oliver Metzger
BEKB BEKAERT SA
SOP SOPRA STERIA GROUP SA
NXI NEXITY SA CLASS A
SBMO SBM OFFSHORE NV
MF WENDEL SE
POM PLASTIC OMNIUM SE
ITP INTERPARFUMS
GXI GERRESHEIMER AG
FNAC FNAC DARTY SA
ATE ALTEN SA
EBRO EBRO FOODS SA
G24 SCOUT24 AG
GLB GLANBIA PLC
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
SUN SULZER AG
VRNL VERNEUIL PARTICIPATIONS
AIXA AIXTRON SE
FTON FEINTOOL INTERNATIONAL HOLDING AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
RIEN RIETER HOLDING AG
EMMN EMMI AG
CIE CIE AUTOMOTIVE S.A.
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
FDR FLUIDRA S.A.
EDR EDREAMS ODIGEO SA
CON CONZZETA AG
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
CSM CORBION NV
WLN WORLDLINE SA
FNTN FREENET AG
MEL MELIA HOTELS INTERNATIONAL S.A.
IDR INDRA SISTEMAS S.A. CLASS A
TRP TERAPLAST
FTG111 FLATEXDEGIRO AG
HOME NEINOR HOMES SA
BFSA BEFESA SA
NFN NFON AG
GRE GRENERGY RENOVABLES
FQT FREQUENTIS AG WIENER
UPG UNIFIEDPOST GROUP
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
ALAFY AFYREN
DEME DEME GROUP NV
ADTN ADTRAN HOLDINGS INC
7V0 DARWIN AG
SHUR SHURGARD SELF STORAGE LIMITED
ACAG AUSTRIACARD HOLDINGS AG
PLNW PLANISWARE
CO CASINO GUICHARD-PERRACHON
4X0 STEYR MOTORS AG
- Oliver Metzger
BEKB BEKAERT SA
SOP SOPRA STERIA GROUP SA
NXI NEXITY SA CLASS A
SBMO SBM OFFSHORE NV
MF WENDEL SE
POM PLASTIC OMNIUM SE
ITP INTERPARFUMS
GXI GERRESHEIMER AG
FNAC FNAC DARTY SA
ATE ALTEN SA
EBRO EBRO FOODS SA
G24 SCOUT24 AG
GLB GLANBIA PLC
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
SUN SULZER AG
VRNL VERNEUIL PARTICIPATIONS
AIXA AIXTRON SE
FTON FEINTOOL INTERNATIONAL HOLDING AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
RIEN RIETER HOLDING AG
EMMN EMMI AG
CIE CIE AUTOMOTIVE S.A.
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
FDR FLUIDRA S.A.
EDR EDREAMS ODIGEO SA
CON CONZZETA AG
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
CSM CORBION NV
WLN WORLDLINE SA
FNTN FREENET AG
MEL MELIA HOTELS INTERNATIONAL S.A.
IDR INDRA SISTEMAS S.A. CLASS A
TRP TERAPLAST
FTG111 FLATEXDEGIRO AG
HOME NEINOR HOMES SA
BFSA BEFESA SA
NFN NFON AG
GRE GRENERGY RENOVABLES
FQT FREQUENTIS AG WIENER
UPG UNIFIEDPOST GROUP
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
ALAFY AFYREN
CTPNV CTP NV
DEME DEME GROUP NV
ADTN ADTRAN HOLDINGS INC
7V0 DARWIN AG
SHUR SHURGARD SELF STORAGE LIMITED
ACAG AUSTRIACARD HOLDINGS AG
PLNW PLANISWARE
CO CASINO GUICHARD-PERRACHON
4X0 STEYR MOTORS AG
- Martijn Den Drijver
- ING Helpdesk
Benelux Morning Notes
Aalberts: In-line FY25, but low quality / AMG: 4Q25 beat by 7%; in-line 2026 guidance / Bekaert: In-line 2025, cautious outlook for 2026 to result in c.8% consensus cut / CMB.TECH: A small bit beat but not the full story / Corbion: Dividend sweetener / CTP: Q4 results lighter due to some delays; stronger 2026 outlook / DEME: Strong FY25 numbers and FY26 outlook / Elia Group: Preview FY25 results / SBM Offshore: Another step-up in shareholder return / Syensqo: Substantial miss in 4Q25; FY26 outlo...
- Kristof Samoy
Aalberts Good results & WC mgmt, higher DPS but lower SBB, no quantifi...
FY25 release was a mixed bag. Over FY25 Aalberts' topline came in above our expectations organically declining by only -2.5% vs. our -3.8% expectation. Topline stood at €3091m compared to our €3064mE and consensus of €3073mE. Adjusted EBITA of €410m was in line with our €405mE and CSS of €403mE. Overall EBITA margin was in line with earlier guidance at 13.3% (vs. 13.1% CSS, 13.2% KBC). The FCF & NWC management was solid. Declared DPS of €1.15 exceeded expectations but the announced SBB of €75m c...
Aalberts N.V.: Aalberts reports full year results 2025
Aalberts N.V.: Aalberts reports full year results 2025 Utrecht, 26 February 2026 highlights (before exceptionals) revenue EUR 3,091 million; organic revenue decline 2.5%EBITA EUR 410 million; EBITA margin 13.2%earnings per share before amortisation EUR 2.61free cash flow EUR 361 millioninnovation rate at 20%; SDG rate at 71% CEO statement“Our performance in 2025 has been impacted by macroeconomic uncertainties, continued softness of our end markets, and geopolitical disruptions. We responded decisively to market conditions, implementing measures to restore sustainable performance and con...
- Christophe-Raphaël Ganet
- Emmanuel Matot
- Thomas Zlowodzki
ACN ACCENTURE PLC CLASS A
INF INFOTEL SA
SCR SCOR SE
ASY ASSYSTEM SA
SWP SWORD GROUP SE
AUB AUBAY SA
VLS VALNEVA SE
ATE ALTEN SA
TPE PVA TEPLA AG
NEX NEXANS SA
CAP CAPGEMINI SE
SOI SOITEC SA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
VRNL VERNEUIL PARTICIPATIONS
CTAC CTAC N.V.
COK CANCOM SE
BC8 BECHTLE AG
ADN1 ADESSO AG
AALB AALBERTS N.V.
MELE MELEXIS NV
ALSN ALSO HOLDING AG
ECONT ECONOCOM GROUP SE CLASS D
UNI UNICAJA BANCO S.A.
NKT NKT A/S
REY REPLY S.P.A.
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
TOM2 TOMTOM NV
NA9 NAGARRO
HGEA HGEARS AG
ALVGO VOGO SA
AROBS AROBS TRANSILVANIA SOFTWARE SA
IOS IONOS GROUP SE
ATO ATOS SE
- Christophe-Raphaël Ganet
- Emmanuel Matot
- Thomas Zlowodzki
ACN ACCENTURE PLC CLASS A
INF INFOTEL SA
SCR SCOR SE
ASY ASSYSTEM SA
SWP SWORD GROUP SE
AUB AUBAY SA
VLS VALNEVA SE
ATE ALTEN SA
TPE PVA TEPLA AG
NEX NEXANS SA
CAP CAPGEMINI SE
SOI SOITEC SA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
VRNL VERNEUIL PARTICIPATIONS
CTAC CTAC N.V.
COK CANCOM SE
BC8 BECHTLE AG
ADN1 ADESSO AG
AALB AALBERTS N.V.
MELE MELEXIS NV
ALSN ALSO HOLDING AG
ECONT ECONOCOM GROUP SE CLASS D
UNI UNICAJA BANCO S.A.
NKT NKT A/S
REY REPLY S.P.A.
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
TOM2 TOMTOM NV
NA9 NAGARRO
HGEA HGEARS AG
ALVGO VOGO SA
AROBS AROBS TRANSILVANIA SOFTWARE SA
IOS IONOS GROUP SE
ATO ATOS SE
- Martijn Den Drijver
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview: Another quarter in no man's land? / Ahold Delhaize: Confirms the acquisition of Delfood / AGEAS: China – state to inject capital into insurers / AkzoNobel: Tepid 4Q25 results and FY26 outlook / D'Ieteren: Belgian car registrations down 19%, 65% of 2019 level, VW down only 5% / Xior Student Housing: Sound organic trends continue, two-year guidance revealed
- Ahmed Ben Salem
- Emira Sagaama
- Oddo Sustainability Team
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VAC PIERRE & VACANCES SA
BIO BB BIOTECH AG
STF STEF
ITP INTERPARFUMS
SWP SWORD GROUP SE
GLO GL EVENTS SA
ACX ACERINOX SA
EBRO EBRO FOODS SA
ENI ENI S.P.A.
REP REPSOL SA
AALB AALBERTS N.V.
ARG ARGAN SA
FLU FLUGHAFEN WIEN AG
SIFG SIF HOLDING NV
SFSN SFS GROUP AG
BP. BP P.L.C.
FAST FASTNED
AZE AZELIS GROUP NV
SHEL SHELL PLC
7V0 DARWIN AG
ARYN ARYZTA AG
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