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Kristof Samoy ... (+2)
  • Kristof Samoy
  • Wim Hoste
Kristof Samoy
  • Kristof Samoy

Aalberts Macro outlook calls for reality check, 2026 recovery less pro...

We have revisited our scenario for Aalberts in light of persistent political instability in France and the continued publication of uninspiring leading indicators. With the company's substantial exposure to both the French and German markets, and its reliance on automotive and machine-building as key end markets, we have revised our 2026 organic growth forecast downward to 1.6%. We expect consensus to follow in the coming months. Despite the (historically) cheap valuation, we downgrade the stock...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aalberts: Preview - difficult YoY comp in Semi division. Arcadis: Returning to organic growth in 3Q25. Shell plc: A bit ahead of expectations. Vopak: No many changes in 3Q, solid story continues

Jeremy Garnier ... (+3)
  • Jeremy Garnier
  • Nicolas David
  • Thomas Zlowodzki
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