reports
- ING Helpdesk
- Carole Braudeau
Credit Morning 12/22/2025
Paris prosecutor's office launches probe into Uranium theft from Somaïr in Niger|Maxeda: weak Q3 results and announcement of restructuring process|Coty appoints Markus Strobel as new chairman and interim CEO|Golden Goose: HSG acquires majority stake|The Belgian government is considering increasing its stake in Ageas according to the Belgian newspaper de Tijd|
- Carole Braudeau
Morning Crédit 22/12/2025
Enquête du parquet de Paris sur le vol d’Uranium de la Somaïr au Niger|Maxeda : faibles résultats T3 et annonce du processus de restructuration|Coty nomme Markus Stroble comme nouveau Chairman et CEO par interim|Golden Goose : HSG acquiert une part majoritaire au capital|Le gouvernement belge envisageait d'augmenter sa participation dans Ageas selon le journal belge De Tijd|
Ontex Group NV: 1 director
A director at Ontex Group NV bought 5,000 shares at 4.630EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...
Atenor SA: 1 director
A director at Atenor SA bought 14,500 shares at 2.606EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
- Hilde Van Boxstael
- Jacob Mekhael
- Livio Luyten
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Wim Hoste
Ontex Model update post profit warning
Ontex issued a severe profit warning which implies the company now expects 4Q25 adjusted EBITDA to land at € 38-43m vs a previous expectation range of € 63-68m, with the downwards revision due to intense competition from A-brands in the baby care segment. We have reduced our adjusted EBITDA forecasts for FY25-27 by between 8-10%, but still expect FY26 EBITDA to grow by c. 12% vs our new FY25 forecast, on a combination of efficiency measures, the full contribution of new contracts and (at some po...
- Thomas Couvreur
ABN Amro NIBC, Wealth & Staff reductions drive value; target price inc...
We have reviewed our model on ABN Amro, incorporating the NIBC acquisition, the ambitious growth targets in Wealth Management and the aggressive cost savings targets, mainly driven by FTE reductions. By FY28 we see our income estimates increase by 4.3% and cost estimates decrease by 3.1%. Our new SoTP valuation points to a target price of €29 (vs €25.5), reiterating our Hold recommendation given limited upside.
- Carole Braudeau
- Carole Braudeau
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Si Yong Ng
- Tanvi Arora
- Carole Braudeau
- Carole Braudeau
- Aurelien Sivignon
- Yan Derocles
- ING Helpdesk
Benelux Morning Notes
Belgian Telecoms: DIGI Belgium CEO Interview: ‘We are running a marathon, not a sprint' IBA: IBA to install a Rhodotron in East China. Ontex: Another quarter, another profit warning. Theon International: Backlog visibility indeed. Xior: 2026 outlook positive but with no major surprise. Events Calendar
- Aurelien Sivignon
- Yan Derocles
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Mathijs Geerts Danau
- Michiel Declercq
- Wim Hoste
- Wim Lewi
- Robert Jan Vos
- Usama Tariq
- Wim Hoste
Ontex Profit warning, restructuring plan and new CEO appointment
Ontex just issued a profit warning revising its full-year outlook downwards. At the same time the board has decided to appoint Laurent Nielly , currently president of Ontex Europe, as the new CEO. The change will be effective as of May 2026 when the mandate of the current CEO comes to an end. The adjusted FY EBITDA25 guidance calls for a range of €175-€180m (previously €200-€210m) compared to KBC's forecast of €197m. Ontex's management is now accelerating an efficiency improvement initiative acr...
ABN AMRO announces significant risk transfer transaction with Blacksto...
ABN AMRO announces significant risk transfer transaction with Blackstone ABN AMRO announces significant risk transfer transaction with Blackstone 11 December 2025 Today, ABN AMRO announces a significant risk transfer (SRT) transaction with funds manged by Blackstone. This transaction provides first loss protection on a EUR 2 billion portfolio of large corporate loans. The transaction underscores our commitment to creating more room for further profitable growth by actively managing portfolios. We expect the transaction will reduce the bank's risk-weighted assets by EUR 1.6 billion, while...
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