We have tactically downgraded the energy sector from Overweight to Neutral (excl. oil services on which we are maintaining our Overweight rating) and dropped Shell Plc from our Large Caps list. The IEA report has accelerated the downswing for the energy sector, which could continue in the days ahead. June will be a better month to come back to the sector. - ...
Nous dégradons tactiquement à Neutre le secteur de l’énergie (hors Services Pétroliers sur lesquels nous conservons une opinion Surperformance) et faisons sortir Shell plc de notre liste Large Caps. Le rapport AIE a accéléré la baisse du secteur énergie, qui pourrait se poursuivre dans les jours qui viennent. Juin sera un meilleur mois pour revenir sur le secteur. - ...
>Conclusion: New SBB, new good CFO, OCG and Solvency in line - It was positive that Aegon announced a new SBB as that was not yet expected. Also positive is the appointment of a good new well known CFO Duncan Russell. Further the Q1 OCG capital generation and Solvency figures were in line. We keep our Outperform recommendation, and we see material future capital releases and return to come the coming years.Positive that new SBB is announced already - ...
AEGON: 1Q24, new unexpected SBB, underlying OCG better, strong ratios across. Belgian telecoms: Digi to start with mobile. CFE: Preview - forecasting revenue numbers… D'Ieteren: Belron US peer Boyd 1Q24 below consensus, warns on 2Q24 growth. Econocom: Joins consortium formed by Onepoint and Butler Industries to acquire Atos. KBC: 1Q24 better across, special dividend, capital distribution pushed back to 1H25. Syensqo: 1Q24 a touch better, positive earnings momentum confirmed. Umicore:...
Following Bekaert's 1Q24 trading update, we trim our estimates and reiterate our HOLD rating on a lowered target price of €49 per share. While Bekaert management upheld its guidance of ‘modest sales growth' and ‘at least stable' margins for 2024F, we believe the company has to step up its performance in the next three quarters to compensate for a slower start to the year, marked by an organic decline of 13% YoY.
Corbion General Shareholders Meeting approves Board (re)appointments and dividend The annual Corbion General Shareholders Meeting held on 15 May 2024 approved the reappointment of Ilona Haaijer and Steen Riisgaard as members of the Supervisory Board. Peter Kazius was appointed as CFO. He will succeed Eddy van Rhede van Kloot, and will form the Board of Management together with CEO Olivier Rigaud. At the shareholders meeting the proposed dividend of € 0.61 per ordinary share for the financial year 2023 was also approved. Dividends will be all-cash and will in principle be subject to Dutch ...
Aalberts: Preview - steady in difficult markets. ABN AMRO: 1Q24 overshadowed by weaker capital, even if a strong set. AEGON: 1Q24 Preview (trading update). Alfen: Preview - clarity on one-off Pacto costs crucial. B&S Group: Bolt-on acquisition in Personal Care. Belgian telcos: BIPT notes that fibre cooperation negotiations not ready by 15 May. EVS: 1Q24 preview. Euronext: Another record, with Beats by Boujnah. Montea: €12m acquisition in the Port of Ghent. Staffing: Dutch Perio...
MaaT completed a global offering (reserved offering and primary bid offering) of approx. 2.3m new ordinary shares at a price of € 8 per share (discount of approx. 14% vs. last close) for gross proceeds of € 19.2m (net proceeds € 17.3m). The funds lift the financing overhang for MaaT and extend the company's runway to early 1Q25 (previously end 3Q24). This provides funding beyond the topline readout (ORR) from the phase 3 (ARES) trial of MaaT013 in aGvHD expected in mid 4Q24, which we view as the...
LYON, France--(BUSINESS WIRE)-- Regulatory News: CE COMMUNIQUE ET LES INFORMATIONS QU’IL CONTIENT SONT RESTREINTS ET NE SONT PAS DESTINES A LA DIFFUSION, A LA PUBLICATION OU A LA DISTRIBUTION, EN TOUT OU PARTIE, DIRECTEMENT OU INDIRECTEMENT, EN AUSTRALIE, AU CANADA, AU JAPON, EN AFRIQUE DU SUD OU AUX ETATS-UNIS OU DANS TOUT AUTRE JURIDICTION DANS LAQUELLE UNE TELLE DIFFUSION, PUBLICATION OU DISTRIBUTION SERAIT ILLEGALE. CE COMMUNIQUE EST ETABLI A TITRE D’INFORMATION UNIQUEMENT ET NE CONSTITUE PAS, NI NE CONTIENT AUCUNE INVITATION, SOLLICITATION, RECOMMANDATION, OFFRE OU CONSEIL A QUICONQUE...
LYON, France--(BUSINESS WIRE)-- Regulatory News: CE COMMUNIQUE ET LES INFORMATIONS QU’IL CONTIENT SONT RESTREINTS ET NE SONT PAS DESTINES A LA DIFFUSION, A LA PUBLICATION OU A LA DISTRIBUTION, EN TOUT OU PARTIE, DIRECTEMENT OU INDIRECTEMENT, EN AUSTRALIE, AU CANADA, AU JAPON, EN AFRIQUE DU SUD OU AUX ETATS-UNIS OU DANS TOUT AUTRE JURIDICTION DANS LAQUELLE UNE TELLE DIFFUSION, PUBLICATION OU DISTRIBUTION SERAIT ILLEGALE. CE COMMUNIQUE EST ETABLI A TITRE D’INFORMATION UNIQUEMENT ET NE CONSTITUE PAS, NI NE CONTIENT AUCUNE INVITATION, SOLLICITATION, RECOMMANDATION, OFFRE OU CONSEIL A QUICONQUE...
Shareholders IMCD N.V. adopt all resolutions at AGM ROTTERDAM, The Netherlands (14 May 2024, 17:00 hrs CEST) – IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, announces that all resolutions proposed to the shareholders Annual General Meeting of shareholders (AGM) held today were adopted. Turn-out was high, with almost 88% of shareholder represented. The resolutions included adoption of the financial statements for the year 2023 and approval of the dividend proposal of EUR 2.24 per share in cash. The dividend ...
>Reiterating our Neutral rating, TP unchanged - Bekaert is doing the sensible thing. Focus on margins, restructure where possible, make small or medium sized acquisitions (planned) and give new products sufficient funding and management attention so that they have a good chance of generating a material revenue stream with a robust margins. We assume solid growth and margins for Dramix and Currento (and potentially Armofor), the key growth drivers and the true sustaina...
Corbion reports the progress of its € 20 million share buyback program 6 May – 10 May 2024 Corbion hereby reports the transaction details related to its € 20 million share buyback program announced on 26 April 2024. During the week of 6 May up to and including 10 May 2024 a total of 56,299 shares were repurchased at an average price of €21.3620 for a total amount of €1,202,658.73. To date, the total consideration for shares repurchased amounts to €1,999,484.52 representing 10.00% of the overall share buyback program. Corbion publishes on a weekly basis every Monday, an overview of the pr...
Bekaert: General Meetings of Shareholders General Meetings of Shareholders - Approval of a gross dividend of € 1.80- Approval of the proposed reappointments On Wednesday 8 May 2024, Bekaert’s Annual General Meeting of Shareholders took place chaired by Jürgen Tinggren, Chairman of the Board of Directors. The following main subjects were considered. The meeting approved the balance sheet and the income statement per 31 December 2023, as submitted by the Board of Directors, including the distribution of a gross dividend of € 1.80 per share.The dividend ex-date ...
Bekaert: Algemene Vergaderingen van Aandeelhouders Algemene Vergaderingen van Aandeelhouders - Goedkeuring bruto dividend van € 1,80 - Goedkeuring voorgestelde herbenoemingen Op woensdag 8 mei 2024 heeft de Gewone Algemene Vergadering van Aandeelhouders van Bekaert plaatsgevonden onder het voorzitterschap van Jürgen Tinggren, Voorzitter van de Raad van Bestuur. Daarbij zijn hoofdzakelijk de volgende onderwerpen aan bod gekomen. De vergadering heeft de balans en de resultatenrekening afgesloten op 31 december 2023, zoals opgemaakt door de Raad van Bestuur, goe...
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