reports
- Emmanuel Matot
- Emmanuel Matot
- Martijn Den Drijver
Bekaert : Failed strategy and competitive pressure set to hit hard
We downgrade our recommendation on Bekaert to Underperform from Neutral with an updated price target of €34.5 per share. Roughly two years after the December 2023 Capital Markets Day, we conclude that very little has come of the outlined strategy (high growth and high EBIT margins from the Growth Platforms) and that is not likely to change in the remainder of 2025 or 2026, while most of the other targets (step up M&A, ROCE) are also out of sight. We lower our estimates for 2025-2027 materially, ...
- Baptiste Salaville
- Olfa Taamallah
- Yan Derocles
- Baptiste Salaville
- Olfa Taamallah
- Yan Derocles
Bekaert - Update on the Share Buyback Program and Liquidity Agreement
Bekaert - Update on the Share Buyback Program and Liquidity Agreement Update on the Share Buyback Program and the Liquidity Agreement Period from 2 October 2025 to 8 October 2025 Share Buyback ProgramOn , Bekaert announced the start of the next tranche of its share buyback program, for a total maximum consideration of up to € 25 million. As announced previously, the purpose of the Program is to cancel all shares repurchased. Bekaert announces today that during the period from 2 October 2025 to 8 October 2025, Kepler Cheuvreux SA on behalf of Bekaert has bought 41 500 shares. The table ...
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen en Liquid...
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen en Liquiditeitsovereenkomst Update over het Inkoopprogramma van Eigen Aandelen en de Liquiditeitsovereenkomst Periode van 2 oktober 2025 tot 8 oktober 2025 Inkoopprogramma van Eigen AandelenOp , kondigde Bekaert de start aan van de volgende tranche van haar inkoopprogramma, voor een totaalbedrag van maximaal € 25 miljoen. Zoals eerder aangekondigd heeft het inkoopprogramma tot doel alle ingekochte aandelen te vernietigen. Bekaert kondigt vandaag aan dat gedurende de periode van 2 oktober 2025 tot 8 oktober 2025, Kepler Cheuvre...
- Thijs Berkelder
Elia Group : High voltage growth path back on track
Seeing that the construction of the Belgian energy island is now progressing well, that the new CEO is acting stricter on cost control, that the demand for new bonds of Elia Transmission Belgium and 50Hertz has remained high at attractive yields, that the German regulator is expected to improve the regulatory rates framework for the next regulatory period, and that the investment fits perfectly in Europe’s ambitions to become less dependent on Russia, we today reiterate our Outperform recommenda...
Bekaert: Publication transparency notification
Bekaert: Publication transparency notification Publication of a transparency notification(in accordance with the Law of 2 May 2007 on disclosure of major holdings) NV Bekaert SA (“Bekaert”) has received a transparency notification dated 6 October 2025 indicating that Norges Bank has crossed the threshold of 3%, as a result of the acquisition or disposal of voting securities or voting rights in Bekaert. The notification dated 6 October 2025 contains the following information: Reason for the notification: acquisition or disposal of voting securities or voting rightsdownward crossing of ...
Bekaert: Openbaarmaking over transparantiekennisgeving
Bekaert: Openbaarmaking over transparantiekennisgeving Openbaarmaking over transparantiekennisgeving(conform de wet van 2 mei 2007 op de openbaarmaking van belangrijke deelnemingen) NV Bekaert SA (“Bekaert”) heeft een op 6 oktober 2025 gedateerde transparantiekennisgeving ontvangen waaruit blijkt dat Norges Bank de deelnemingsdrempel van 3% heeft overschreden, als gevolg van de verwerving of overdracht van stemrechtverlenende effecten of stemrechten in Bekaert. De op 6 oktober 2025 gedateerde kennisgeving bevat de volgende informatie: Reden voor de kennisgeving: een verwerving of overdr...
- ING Helpdesk
Benelux Morning Notes
Ageas: AG Real Estate looking to reduce exposure to Interparking, lower capital charges. Air France-KLM: 3Q25 a bit light? ASML: Preview 3Q25, riding the AI wave. Barco: Preview 3Q25, self-help offsets macro headwind. D'Ieteren: Belron starts to roll out static mobile recalibration. Euronext: September's seasonal recovery. Tessenderlo More focus on capital allocation and returns. TomTom: Preview 3Q25, Cost cutting offsets slow markets. Umicore: Gold inventory sale-and-lease-back
- Anthony Dick
- Michael Foundoukidis
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- Anthony Dick
- Michael Foundoukidis
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SGO COMPAGNIE DE SAINT-GOBAIN SA
MT ARCELORMITTAL SA
CA CARREFOUR SA
BEKB BEKAERT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SK SEB SA
SSAB A SSAB AB CLASS A
RHM RHEINMETALL AG
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
HEN3 HENKEL AG & CO. KGAA PREF
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ABI ANHEUSER-BUSCH INBEV SA/NV
RIO RIO TINTO PLC
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
8TRA TRATON SE
ENR SIEMENS ENERGY AG
VUL VULCAN ENERGY RESOURCES
SHEL SHELL PLC
AAL ANGLO AMERICAN PLC
- Maxime Kogge
BEKB BEKAERT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
NXI NEXITY SA CLASS A
TFI TELEVISION FRANCAISE 1 SA
SZG SALZGITTER AG
VLS VALNEVA SE
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
CTAC CTAC N.V.
NDA AURUBIS AG
MMT METROPOLE TELEVISION SA
RIEN RIETER HOLDING AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
RIO RIO TINTO PLC
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
FQT FREQUENTIS AG WIENER
VUL VULCAN ENERGY RESOURCES
ORP ORPEA
LOUP SOCIETE L.D.C.
AAL ANGLO AMERICAN PLC
- Maxime Kogge
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APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
RIO RIO TINTO PLC
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AMAG AMAG AUSTRIA METALL AG
VUL VULCAN ENERGY RESOURCES
AAL ANGLO AMERICAN PLC
- Maxime Kogge
BEKB BEKAERT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
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BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
VUL VULCAN ENERGY RESOURCES
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- Margaux van Oerle
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- Thomas Zlowodzki
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OUT1V OUTOKUMPU OYJ
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SSAB A SSAB AB CLASS A
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RCO REMY COINTREAU SA
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VOE VOESTALPINE AG
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- Margaux van Oerle
- Michael B. Schäfer
- Thomas Zlowodzki
MT ARCELORMITTAL SA
BEKB BEKAERT SA
DGE DIAGEO PLC
G1A GEA GROUP AG
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
RI PERNOD RICARD SA
SSAB A SSAB AB CLASS A
ULVR UNILEVER PLC
RCO REMY COINTREAU SA
EN BOUYGUES SA
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
BAS BASF SE
ERA ERAMET SA
REP REPSOL SA
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
RIO RIO TINTO PLC
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
CPR DAVIDE CAMPARI-MILANO N.V.
VUL VULCAN ENERGY RESOURCES
BEAN BELIMO HOLDING AG
CVC CVC CAPITAL PARTNERS PLC
AAL ANGLO AMERICAN PLC
- Maxime Kogge
- Thomas Zlowodzki
BEKB BEKAERT SA
APAML APERAM SA
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
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POM PLASTIC OMNIUM SE
SZG SALZGITTER AG
KOF KAUFMAN & BROAD SA
VOE VOESTALPINE AG
ACX ACERINOX SA
TRI TRIGANO SA
ERA ERAMET SA
NDA AURUBIS AG
SESL SES-IMAGOTAG SA
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BRAV BRAVIDA HOLDING AB
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AMAG AMAG AUSTRIA METALL AG
VUL VULCAN ENERGY RESOURCES
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