reports
- Guy Sips
EVS Broadcast Equipment Capital Market Day 2024
On its Capital Market Day 2024, EVS expressed again its ambition to become the number 1 solution provider in the live video industry; targeting a € 350m+ sales ambition by 2030. We welcome that EVS, as a major player, is gaining market share versus competition which are defocussing from premium broadcast. Nevertheless if we add up EVS' expected FY29E revenues from its 3 solutions (LiveCeption, MediaCeption, MediaInfra) we not only land below the FY29E number in our model (€ 260m+ versus our € 22...
- ING Helpdesk
- Guy Sips
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Vranken
- Wim Hoste
- Thomas Vranken
Onward Medical 3Q24 update retains FDA approval timelines & highlights...
Onward reported its 3Q24 business update with no major surprises, while we note that the company reiterated the timeline for the key milestone of obtaining FDA clearance to launch its ARC-EX System in the US in 4Q24. Onward's cash runway was recently extended to around 2H26 (KBCSe) through a € 50m equity raise with cornerstone investor Ottobock, a global leader in prosthetics, orthotics and exoskeletons. All in all solid progress in the past few months. We take into account a small timeline shif...
- Wim Hoste
Bekaert Resuming share buybacks is great capital allocation
We have reduced our underlying EBIT forecasts for the FY24-26 period by 4-8% following last week's profit warning. Perhaps more important than the acknowledgment of a tougher macro environment, we welcome the decision to launch a € 200m share buyback program and expect Bekaert to turn back over 20% of the current market capitalization to investors over the next two years in the form of dividends and share buybacks. At 3.2x EV/EBITDA25e, buying back own shares seems an extremely compelling idea a...
MaaT Pharma annonce des résultats positifs de Phase 1b, avec l’atteint...
LYON, France--(BUSINESS WIRE)-- Regulatory News: (EURONEXT : MAAT - la « Société »), société de biotechnologies en stade clinique avancé, leader dans le développement de Microbiome Ecosystem TherapiesTM (MET)1 visant à améliorer la survie des patients atteints de cancers grâce à la modulation du système immunitaire, annonce que l'essai clinique exploratoire de Phase 1b à bras unique et ouvert nommé IASO () évaluant MaaT033 dans la SLA a atteint son critère principal d'évaluation portant sur la sécurité et la tolérabilité de doses multiples de MaaT033. Le comité indépendant de surveillance e...
ONWARD Medical Provides Q3 2024 Update and Year-to-Date Highlights
ONWARD Medical Provides Q3 2024 Update and Year-to-Date Highlights Raised EUR 50 million in new capital with cornerstone investment from Ottobock, now the Company’s top investor Signed exclusive license with CEA to develop and commercialize WIMAGINE Brain-Computer Interface (BCI) as part of the Company’s investigational ARC-BCI System Rob ten Hoedt, former Medtronic President and Executive Committee member, joined Board of Directors as incoming Chairman EINDHOVEN, the Netherlands, Nov. 26, 2024 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD), a medical tech...
MaaT Pharma Announces Positive Phase 1b Results, Meeting Primary Endpo...
LYON, France--(BUSINESS WIRE)-- Regulatory News: (EURONEXT: MAAT – the “Company”), a clinical-stage biotechnology company and a leader in the development of Microbiome Ecosystem TherapiesTM (MET) dedicated to enhancing survival for patients with cancer through immune modulation, announced that the exploratory single-arm, open-label Phase 1b clinical trial named IASO () evaluating MaaT033 in ALS has met its primary endpoint assessing the safety and tolerability of MaaT033 with multiple doses. The independent Data Safety and Monitoring Board (DSMB) concluded that MaaT033 showed good safety an...
EVS announces share buyback program of up to EUR 10 million
EVS announces share buyback program of up to EUR 10 million EVS announces share buyback program of up to EUR 10 million The program is a testimony to EVS’s commitment to enhancing shareholder value and demonstrates the confidence of the company in the long-term growth perspectives Liège, Belgium | November 25th, 2024 EVS, a global leader in live video production technology, announces that its Board of Directors has authorized a share repurchase program to buy back up to EUR 10 million of the company’s outstanding common shares over the next 24 months. Details of the share buyback p...
- David Havrlant
- Stijn Demeester
Bekaert/Buyback restart sweetens 2024F guidance cut/HOLD
Post Bekaert's 3Q24 trading update, we lower our 2024F-26F Underlying EBITDA estimates by c.5% and Underlying EBIT by c.8%. Given challenging market conditions are likely to persist into 1H25, we maintain our HOLD recommendation on a reduced target price of €39 per share.
- Wim Hoste
Bekaert Feedback conference call
Below is the feedback from the 3Q conference call. Bekaert lowered its FY guidance to an uEBIT range of 340-350m, which at midpoint is c. 9% below our forecast (378m) and 8% below consensus (373m), reflecting weaker end markets. Importantly and taking into account the solid balance sheet (net debt/EBITDA below 1x) and limited recent M&A activity, Bekaert announced to immediately resume share buybacks and launched a € 200m (>10% of current market cap) SBB program, to be executed over the next 24 ...
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- ING Helpdesk
Benelux Morning Notes
Aalberts: highlights ING Benelux Conference Brussels 2024, Ackermans & Van Haaren: Highlights ING Benelux Conference Brussels,Ackermans & Van Haaren: Strong operational performance of underlying companies and guidance fine-tuned upwards, AMG: Highlights ING Benelux Conference Brussels, Aperam: Highlights ING Benelux Conference Brussels, Arcadis: Highlights ING Benelux conference, Azelis: Highlights ING Benelux Conference Brussels, Bekaert: Guidance cut and €200m buyback as sweetener, CFE: No new...
BEKB BEKAERT SA
APAML APERAM SA
EVS EVS BROADCAST EQUIPMENT SA
DIE D'IETEREN SA
CFEB COMPAGNIE D'ENTREPRISES CFE SA
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
MONT MONTEA SCA
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
KIN KINEPOLIS GROUP NV
INX IMCD N.V.
JDEP JDE PEET'S NV
UMG UNIVERSAL MUSIC GROUP NV
AZE AZELIS GROUP NV
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- Martijn Den Drijver
Bekaert : Lowered 2024 sales and EBIT guidance but new SBB started
>Weaker than expected sales and volumes in Q3 (miss of 3%) - Bekaert’s Q3 sales missed css by 3%, driven by RR (miss of 3%), SWS (a miss of 6%) and Specialty (a miss of 5%) with only BBRG beating (a beat of 3%). Volumes in Q3 were down 5.2% vs -2.7% in Q2 and -4.9% in Q1 so a clear deterioration driven primarily by RR (-4.4% in Q3 vs -2.3% in Q2) and SWS (-7.7% vs -3.4% in Q2). Europe and China were weak (RR particularly in trucks) while there have been delays in proj...
- Wim Hoste
Bekaert FIRST LOOK: Weak 3Q sales, lower FY guidance but resuming SBB
Bekaert lowered its FY guidance to an uEBIT range of 340-350m, which at midpoint is c. 9% below our forecast (378m) and 8% below consensus (373m), reflecting weaker end markets. Importantly and taking into account the solid balance sheet (net debt/EBITDA below 1x) and limited recent M&A activity, Bekaert announced to immediately resume share buybacks and launched a € 200m (>10% of current market cap) SBB program, to be executed over the next 24 months. Despite the reduced FY guidance which will ...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
Bekaert - Update on the Liquidity Agreement
Bekaert - Update on the Liquidity Agreement Update on the Liquidity Agreement Period from 14 November 2024 to 20 November 2024 Liquidity agreement In relation to the renewed liquidity agreement with Kepler Cheuvreux announced on , Bekaert announces today that Kepler Cheuvreux on behalf of Bekaert has bought 7 533 shares during the period from 14 November 2024 to 20 November 2024 on Euronext Brussels. During the same period, Kepler Cheuvreux on behalf of Bekaert has sold 8 100 shares on Euronext Brussels. The tables below provide an overview of the transactions under the liquidity agreem...
Bekaert - Mise à jour relative au Contrat de liquidité
Bekaert - Mise à jour relative au Contrat de liquidité Mise à jour relative au Contrat de liquidité Période allant du 14 novembre 2024 au 20 novembre 2024 Contrat de liquiditéDans le cadre du contrat de liquidité reconduit avec Kepler Cheuvreux annoncé le , Bekaert annonce aujourd'hui que Kepler Cheuvreux a acheté 7 533 actions pour le compte de Bekaert durant la période comprise entre le 14 novembre 2024 et le 20 novembre 2024 sur Euronext Bruxelles. Au cours de la même période, Kepler Cheuvreux a vendu 8 100 actions pour le compte de Bekaert sur Euronext Bruxelles. Les tableaux ci-dess...
Bekaert - Update on the Share Buyback Program
Bekaert - Update on the Share Buyback Program Bekaert starts Share Buyback Program Following the release of Bekaert’s trading update for the nine months to September 2024, and the announcement that its Board has approved a new share buyback program for a total amount of up to € 200 million over a period of up to 24 months (the “Program”), Bekaert today announces the start of a tranche of the Program to purchase an aggregate amount of up to € 25 million (the “Tranche”). This Tranche will end on or before 21 February 2025. As announced previously, the purpose of the Program is to cancel all...
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