reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update April 2024: Adding TINC
We continue our KBC Securities Dynamic Top Pick List with a 50/50 cyclical/defensive selection, but with a focus on value stocks that have been left behind. Defensive segment like holdings are overweight. However, in the Benelux we have a selection of cyclical industrials at cheap valuations that have often underperformed the market. We favour Benelux value stocks as even a mild recession typically hits growth stocks proportionally harder. We notice that some stocks have been hit hard by minor s...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
SOLB SOLVAY SA
DIE D'IETEREN SA
SOF SOFINA SA
GIMB GIMV NV
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
TUB FINANCIERE DE TUBIZE S.A.
CPINV CARE PROPERTY INVEST SA
TWEKA TKH GROUP N.V. CERT
TINC TINC COMM. VA
SHUR SHURGARD SELF STORAGE LIMITED
SYENS SYENSQO
Bekaert: Notice of Annual General Meeting of Shareholders
Bekaert: Notice of Annual General Meeting of Shareholders Notice of Annual General Meeting of Shareholders The shareholders and the holders of debentures are requested to attend the Annual General Meeting of Shareholders to be held on Wednesday 8 May 2024 at 10:30 a.m. at Kortrijk Xpo Meeting Center, Doorniksesteenweg 216 (P6), 8500 Kortrijk (Belgium). Attachment
Bekaert: Oproeping tot de Gewone Algemene Vergadering van Aandeelhoude...
Bekaert: Oproeping tot de Gewone Algemene Vergadering van Aandeelhouders Oproeping tot de Gewone Algemene Vergadering van Aandeelhouders De aandeelhouders en de houders van obligaties worden verzocht de Gewone Algemene Vergadering van Aandeelhouders bij te wonen die gehouden wordt op woensdag 8 mei 2024 om 10.30 uur in Kortrijk Xpo Meeting Center, Doorniksesteenweg 216 (P6), 8500 Kortrijk (België). Bijlage
Bekaert: Notice of Extraordinary General Meeting of Shareholders
Bekaert: Notice of Extraordinary General Meeting of Shareholders Notice of Extraordinary General Meeting of Shareholders The shareholders and the holders of debentures are requested to attend the Extraordinary General Meeting of Shareholders to be held on Wednesday 8 May 2024 at 09:00 a.m. at Kortrijk Xpo Meeting Center, Doorniksesteenweg 216 (P6), 8500 Kortrijk (Belgium). Attachment
Bekaert: Convocation à l'Assembléé Générale Extraordinaire des Actionn...
Bekaert: Convocation à l'Assembléé Générale Extraordinaire des Actionnaires Convocation à l'Assembléé Générale Extraordinaire des Actionnaires Vous trouverez en annexe la convocation en anglais et en néerlandais. Pièces jointes
Bekaert: Oproeping tot de Buitengewone Algemene Vergadering van Aandee...
Bekaert: Oproeping tot de Buitengewone Algemene Vergadering van Aandeelhouders Oproeping tot de Buitengewone Algemene Vergadering van Aandeelhouders De aandeelhouders en de houders van obligaties worden verzocht de Buitengewone Algemene Vergadering van Aandeelhouders bij te wonen die gehouden wordt op woensdag 8 mei 2024 om 9.00 uur in Kortrijk Xpo Meeting Center, Doorniksesteenweg 216 (P6), 8500 Kortrijk (België). Bijlage
Bekaert S.A.: 1 director
A director at Bekaert S.A. sold/sold after exercising options 10,800 shares at 46.010EUR and the significance rating of the trade was 77/100. 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...
- Frank Claassen
Bekaert - More proof points of successful transformation
• The FY23 results and 2024 outlook were more encouraging than anticipated which are more proof points of its successful transformation. • At its recent CMD, Bekaert raised its 2026 growth target for top line (>5%) and EBIT margin (from >9% to >10%) underlining its confidence.• Buy reiterated. We raise our TP from EUR 58 to EUR 63, based on a 4-5% increase EBIT estimates and lower net debt. This TP is based on our 2025E SOTP with a still undemanding overall target EV/EBIT of 8x.
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Wim Hoste
Bekaert The journey continues – upgrading target price to € 58
We updated our earnings model after Bekaert delivered better than expected FY23 underlying EBIT margins, up c 80bps to 9.0%, and guided for at least stable underlying EBIT margins in 2024. We upped our uEBIT margin forecast for 2024 by about 50bps and now bank on a 9.2% uEBIT margin while incorporating further margin growth in the following years, as we expect further earnings support from further portfolio pruning and a gradually improving mix whereby more profitable segments such as Specialty ...
- Jean Danjou
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oliver Metzger
BEKB BEKAERT SA
SOP SOPRA STERIA GROUP SA
ACX ACERINOX SA
EBRO EBRO FOODS SA
FR VALEO SE
BON BONDUELLE SCA
FIE FIELMANN AG
SOC SUBSEA 7 S.A.
AIXA AIXTRON SE
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
BPOST BPOST SA
EDR EDREAMS ODIGEO SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
CSM CORBION NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
TLGO TALGO SA
MEL MELIA HOTELS INTERNATIONAL S.A.
TRE TECNICAS REUNIDAS SA
IBG IBERPAPEL GESTION S.A.
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
CASH PROSEGUR CASH SA
BFSA BEFESA SA
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
EXN EXCLUSIVE NETWORKS SA
SPM SAIPEM S.P.A.
ENER GRUPO ECOENER S.A.
- Jean Danjou
- Jean-Baptiste Rouphael
- Marc Lavaud
- Oliver Metzger
BEKB BEKAERT SA
SOP SOPRA STERIA GROUP SA
ACX ACERINOX SA
EBRO EBRO FOODS SA
FR VALEO SE
BON BONDUELLE SCA
FIE FIELMANN AG
SOC SUBSEA 7 S.A.
AIXA AIXTRON SE
VIS VISCOFAN S.A.
FCC FOMENTO DE CONSTRUCCIONES Y CONTRATAS S.A.
BPOST BPOST SA
EDR EDREAMS ODIGEO SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
ENC ENCE ENERGIA Y CELULOSA SA
COL INMOBILIARIA COLONIAL SOCIMI SA
CSM CORBION NV
LRE LAR ESPANA REAL ESTATE SOCIMI SA
TLGO TALGO SA
MEL MELIA HOTELS INTERNATIONAL S.A.
TRE TECNICAS REUNIDAS SA
IBG IBERPAPEL GESTION S.A.
PSG PROSEGUR COMPANIA DE SEGURIDAD SA
CASH PROSEGUR CASH SA
BFSA BEFESA SA
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
EXN EXCLUSIVE NETWORKS SA
SPM SAIPEM S.P.A.
ENER GRUPO ECOENER S.A.
- Martijn Den Drijver
Bekaert : Better than expected margins, positive 2024 guidance but no ...
>EBITu margin 9.0% vs guidance 8.5%-8.7% but no SBB - Bekaert reported 2023 sales of €4.33bn, exactly in line with css and guidance. EBITu came in at €388m or a beat of 5% versus company compiled css of €370m (Aoe €369m). That €388m implies an EBITu margin of 9.0% versus reiterated guidance of mid November of 8.5%-8.7% with css at 8.5% (AOe 8.6%). Due to the solid EBIT, slightly lower than expected capex, solid working capital management and lower cash taxes, FCF was ...
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Wim Hoste
Bekaert FIRST LOOK: 5% FY uEBIT beat, FY24 margin guidance above CSS
Bekaert delivered a solid FY23 performance with uEBIT c 5% better than our and CSS forecasts with uEBIT margin above guidance (9% vs the 8.5-8.7% guidance range). Bekaert guides for at least stable uEBIT margins in FY24 which is above our and consensus forecasts (of respectively 8.7% and 8.8%). Despite a very strong balance sheet, Bekaert will refrain from further share buybacks in the short term to prioritize growth investments. Bekaert has made solid progress with efficiency improvements, port...
Bekaert - Update on the Share Buyback Program
Bekaert - Update on the Share Buyback Program Update on the Share Buyback Program Period from 22 February 2024 to 28 February 2024 On , Bekaert announced the start of the eighth tranche of its share buyback program, for a total maximum consideration of up to € 30 million (the Eighth Tranche). Bekaert announces today that it has completed the eighth and last tranche of the program. During the Eighth Tranche, which started on 17 November 2023 and ended on 23 February 2024, the company repurchased 669 409 ordinary shares for an aggregate consideration of € 30 million. ...
Bekaert - Mise à jour relative au Programme de Rachat d’Actions
Bekaert - Mise à jour relative au Programme de Rachat d’Actions Mise à jour relative au Programme de Rachat d’Actions Période allant du 22 février 2024 au 28 février 2024 Le , Bekaert a annoncé le début de la huitième tranche de son programme de rachat d'actions pour un montant total maximum de € 30 millions (la Huitième Tranche). Bekaert annonce aujourd’hui avoir achevé la huitième et dernière tranche du programme. Au cours de la Huitième Tranche, qui a débuté le 17 novembre 2023 et s’est terminée le 23 février 2024, la société a racheté 669 409 actions ordinaires pour un montant total...
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen Update over het Inkoopprogramma van Eigen Aandelen Periode van 22 februari 2024 tot 28 februari 2024 Op kondigde Bekaert de start aan van de achtste tranche van haar inkoopprogramma, voor een totaalbedrag van maximaal € 30 miljoen (de Achtste Tranche). Bekaert kondigt vandaag aan dat het de achtste en laatste tranche van het programma heeft afgerond. Tijdens de Achtste Tranche, die startte op 17 november 2023 en eindigde op 23 februari 2024, kocht de onderneming 669 409 gewone aandelen in voor een totaalbedrag van € 30 miljo...
Bekaert: 2023 Full Year Results
Bekaert: 2023 Full Year Results 2023 Full Year Results Bekaert delivers strong cash generation and improved marginsSales at € 4.3 billion • EBITu of € 388 million (margin 9.0%) • FCF up 40% • Leverage remains low at 0.5x Net debt/EBITDAu • Proposed dividend of € 1.80 per share (+9%) Bekaert delivered a resilient financial performance in 2023, further improving profit margins (EBITu margin at 9.0%, up 80bps vs FY2022) and delivering strong cash flows (Free Cash Flow of € 267 million, up +40% y-on-y). Despite lower volumes and weaker conditions in many of its end markets, the business con...
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