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Bruno Cavalier ... (+2)
  • Bruno Cavalier
  • Jerôme Bodin
Bruno Cavalier ... (+2)
  • Bruno Cavalier
  • Jerôme Bodin
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: Peer Kroger 4Q25 results. bpost: 4Q25/FY25 result in line, no dividend, FY26 outlook in line, assumptions optimistic. Eurocommercial Properties: Cautious guidance despite Swedish acquisition. Sligro: Feedback from group CMD. Universal Music Group: In line clean EBITDA, FCF below, US listing shelved

Guy Sips ... (+10)
  • Guy Sips
  • Jacob Mekhael
  • Kristof Samoy
  • Livio Luyten
  • Lynn Hautekeete
  • Michiel Declercq
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi

Dynamic Top Pick List Update March 2026: Removing Aedifica – Adding Pr...

The tariff war between US and China has eased, but with the Iran conflict and an erratic Trump, uncertainty will continue into 2027. Energy prices have gone ballistic, with gas prices doubling in Europe and has hit the cyclical stocks hard. The highly anticipated AI productivity gains also will have to transpire sooner or later or a US market correction becomes unavoidable. While the macro-economic impact has been limited so far, a prolonged uncertain situation will result in economic damage. We...

Delphine Brault ... (+6)
  • Delphine Brault
  • Emira Sagaama
  • Juan Ros-Padilla
  • Luis de Toledo Heras
  • Marc Lavaud
  • Nathan Mietlicki
Delphine Brault ... (+6)
  • Delphine Brault
  • Emira Sagaama
  • Juan Ros-Padilla
  • Luis de Toledo Heras
  • Marc Lavaud
  • Nathan Mietlicki
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Ageas: Upgrading net op. result FY26 target to >€1.5bn from €1.35bn in FY25 as M&A starts contributing / CFE: Strong 2H, flips to net cash and outlook better / Deceuninck: FY25 results in line with expectations, Türkiye a tad better / GBL: Exits Umicore fully / Vopak: Five-year SBB programme announced / Wolters Kluwer: 2025 roughly in line, good 2026 outlook

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