reports
- Thymen Rundberg
- Tijs Hollestelle
Alfen/Another transitional year/HOLD
Alfen reported broadly in line 4Q25 results but lowered its FY26 outlook. There is no tangible evidence of a pending volume-driven recovery in the 4Q25 performance of the Smart Grid and the EV Charging division. We increase our FY26 revenue estimate by 0.5% to the mid-point of Alfen's new revenue guidance and cut our FY26F adjusted EBITDA estimate by 6% to €26.1m. This reflects an adjusted EBITDA margin of 5.7%, slightly ahead of the company's mid-point guidance aiming for 5.5%. Management execu...
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Marine Leleux
- Maureen Schuller
- Suvi Platerink Kosonen
- Jerôme Bodin
CEC CECONOMY AG
BVI BUREAU VERITAS SA
MF WENDEL SE
SZG SALZGITTER AG
DEC JCDECAUX SA
TYRES NOKIAN RENKAAT OYJ
ASY ASSYSTEM SA
GXI GERRESHEIMER AG
PIG HAULOTTE GROUP SA
VOE VOESTALPINE AG
CIE CIE AUTOMOTIVE S.A.
BRNL BRUNEL INTERNATIONAL N.V.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
COFA COFACE SA
ECONT ECONOCOM GROUP SE CLASS D
ALFEN ALFEN NV
TUI TUI AG
NCH2 THYSSENKRUPP NUCERA AG & CO.
SCHOTT PHARMA AG
AQ AQUILA PART PROD COM
AMS AMS-OSRAM AG
- Jerôme Bodin
CEC CECONOMY AG
BVI BUREAU VERITAS SA
MF WENDEL SE
SZG SALZGITTER AG
DEC JCDECAUX SA
TYRES NOKIAN RENKAAT OYJ
ASY ASSYSTEM SA
GXI GERRESHEIMER AG
PIG HAULOTTE GROUP SA
VOE VOESTALPINE AG
CIE CIE AUTOMOTIVE S.A.
BRNL BRUNEL INTERNATIONAL N.V.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
COFA COFACE SA
ECONT ECONOCOM GROUP SE CLASS D
ALFEN ALFEN NV
TUI TUI AG
NCH2 THYSSENKRUPP NUCERA AG & CO.
SCHOTT PHARMA AG
AQ AQUILA PART PROD COM
AMS AMS-OSRAM AG
- ING Helpdesk
Benelux Morning Notes
ABN Amro: Miss but strong capital, good set of results / Ahold Delhaize: Strong 4Q25 but no major surprise on FY26 adj. EPS guidance / Alfen: No recovery yet and another transitional year / BAM Group: Preview: 2026 outlook the key item / Econocom: Better REBITA, net debt, but EBIT below, much lower net profit, dividend halved, 2026-28 guidance postponed to “medium term” / Exor: Ferrari 4Q25 and 2026 guidance beat / Gecina: Results and guidance in line, DPS set to grow over 2026-30 / Heineken: No...
- Guy Sips
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
ABN AMRO posts net profit of EUR 410 million in Q4 2025
ABN AMRO posts net profit of EUR 410 million in Q4 2025 ABN AMRO posts net profit of EUR 410 million in Q4 2025 11 February 2026 Key messages Q4 net profit of EUR 410 million brought full-year return on equity to 8.7% New mortgage production continued at a fast pace in Q4 Employee numbers decreased by about 1,500 FTEs in 2025 as part of right‑sizing the cost base Credit quality remained solid, with cost of risk at 11 basis points in Q4 CET1 ratio rose to 15.4%, driven by RWA and portfolio optimisation Additional EUR 500 million capital distribution; final dividend proposed of EUR 0.70 p...
ABN AMRO rapporteert nettowinst van EUR 410 miljoen in Q4 2025
ABN AMRO rapporteert nettowinst van EUR 410 miljoen in Q4 2025 ABN AMRO rapporteert nettowinst van EUR 410 miljoen in Q4 2025 11 februari 2026 Nettowinst in Q4 van EUR 410 miljoen bracht het rendement op eigen vermogen over het hele jaar op 8,7%Nieuwe hypotheekproductie zette in Q4 in hoog tempo doorAantal medewerkers daalde in 2025 met ongeveer 1.500 fte’s als onderdeel van het optimaliseren van de kostenbasisKredietkwaliteit bleef solide, met risicokosten van 11 basispunten in Q4CET1-ratio steeg naar 15,4%, gedreven door optimalisatie van RWA en kredietportfolio’sAanvullende kapitaa...
- Suvi Platerink Kosonen
European banks/Larger banks lead in the non-bank sector
The substantial growth in non-bank assets has outpaced that of bank assets globally. Larger European banks are very much involved in this sector. In addition to the growth potential, this involvement comes with potential risks should the sector see a more substantial weakening.
Inventiva to Present at the Guggenheim Emerging Outlook: Biotech Summi...
Inventiva to Present at the Guggenheim Emerging Outlook: Biotech Summit 2026 Daix (France), New York (United States), February 4, 2025 – (Euronext Paris and NASDAQ: ) (“Inventiva” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of oral therapies for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), today announced that CEO Andrew Obenshain has been invited to participate in a fireside chat at the upcoming Guggenheim Emerging Outlook: Biotech Summit 2026. The conference is being held February 11-12, 2026 at the Lotte New Yor...
Inventiva présentera au Guggenheim Emerging Outlook : Biotech Summit 2...
Inventiva présentera au Guggenheim Emerging Outlook : Biotech Summit 2026 Daix (France), New York (États-Unis), le 4 février 2026 – Inventiva (Euronext Paris et Nasdaq : IVA) (« Inventiva » ou la « Société »), société biopharmaceutique spécialisée dans le développement de thérapies orales pour le traitement de la stéatohépatite associée à un dysfonctionnement métabolique (« MASH »), a annoncé aujourd’hui que son Directeur général, Andrew Obenshain, a été invité à participer à un « fireside chat » lors du prochain Guggenheim Emerging Outlook: Biotech Summit 2026. La conférence se tiendra le...
- Guy Sips
- Jacob Mekhael
- Mathijs Geerts Danau
- Wim Hoste
- Wim Lewi
- Mathijs Geerts Danau
Onward Medical Announces enrolment of first participant in Empower BP ...
Onward announces enrolment of the first participant in the Empower BP trial. The trial evaluates the ARC-IM system to address blood pressure instability in SCI patients. We note that Onward plans an interim analysis of the efficacy results in 2H26, which could accelerate timelines if fewer total patients are required. Short-term, we look forward to the FY25 results to gain a view on the ARC-EX commercial launch (9M25: 70 devices sold). We reiterate our € 8.9 TP and BUY rating.
ONWARD Medical Announces First Participant Enrolled in Global Pivotal ...
ONWARD Medical Announces First Participant Enrolled in Global Pivotal Study Evaluating ARC-IM System to Address Blood Pressure Instability After Spinal Cord Injury Empower BP is a landmark global pivotal study evaluating the safety and effectiveness of the implantable ARC-IM® System to address blood pressure instability after spinal cord injury (SCI)Blood pressure instability is a key unmet need after SCI, with a significant impact on cardiovascular health and quality of lifeThe first participant was enrolled at Craig Hospital in Denver, Colorado, USA EINDHOVEN, the Netherlands, Feb. 04, ...
- ING Helpdesk
Benelux Morning Notes
Aedifica and Cofinimmo: Exchange offer to start tomorrow / Alfen: Preview: new year, new chances / BAM Group: Nice add-on in the Dutch housing market / dsm-firmenich: Givaudan 2026 guidance read-across / Heijmans: Preview: 2025F was the cat's meow / Melexis: 4Q25 preview, towards a cyclical recovery / TomTom: Preview 4Q25, look beyond 2026 / Van Lanschot Kempen: Small UK Fiduciary mandate, second of the month though
ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Musti...
ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Mustier as new member of its Supervisory Board ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Mustier as new member of its Supervisory Board 29 January 2026 Today, ABN AMRO announces that its Supervisory Board will appoint Michiel Lap as Chair of the Supervisory Board of ABN AMRO Bank N.V. with effect from the closure of the Annual General Meeting on 22 April 2026. Michiel Lap will succeed Tom de Swaan, who will retire as Chair after almost eight years. Furthermore, ABN AMRO is pleased to announce the nomin...
ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Must...
ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Mustier voor als nieuw lid van de Raad van Commissarissen ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Mustier voor als nieuw lid van de Raad van Commissarissen 29 januari 2026 Vandaag maakt ABN AMRO bekend dat de Raad van Commissarissen Michiel Lap benoemt als voorzitter van de Raad van Commissarissen van ABN AMRO Bank N.V., met ingang van het einde van de Algemene Vergadering op 22 april 2026. Michiel Lap volgt Tom de Swaan op, die na bijna acht jaar terugtreedt als voorzitter. Daarnaast kondigt ABN A...
Half-Year Review of Inventiva’s Liquidity Contract with Kepler Cheuvre...
Half-Year Review of Inventiva’s Liquidity Contract with Kepler Cheuvreux Daix (France), New York City (New York, United States), January 26, 2026 – Inventiva (Euronext Paris and Nasdaq: IVA) (“Inventiva” or the “Company”), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of patients with metabolic dysfunction-associated steatohepatitis (“MASH”), today announced the half-year report of its liquidity contract with Kepler Cheuvreux. Under the liquidity contract granted to Kepler Cheuvreux by Inventiva, the following resou...
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