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ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

ABN AMRO: Pre-close 3Q: HAL inclusion. Ahold Delhaize: Peer Albertsons 2Q25/26 results. AMG: Lithium supply deal with Beijing Easpring. ASML: 3Q25 results supportive. Barco: 3Q25 trading update inline, surprise buyback. Belgian telcos: Start of the market test for cooperation agreement in Flanders. CM.com: Preview 3Q25 trading update. NSI: Vacancy increase as expected, marginal guidance update. Staffing sector: PageGroup 3Q25 trading update. Zabka: 3Q25 Preview - Like-for-Like(...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Belgian telecoms: DAZN informs Pro League it has no deal with operators. CTP: €600m senior unsecured green bond at 3.625%. dsm-firmenich: Givaudan 9M25 IMS. TomTom: 3Q25 results – Defying weak auto market

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Exor: CMD of the prancing horse. Fastned: 3Q25 preview. Kinepolis: Peer Cineplex September 2025 box office revenue at 85% of 2019, up 7% YoY. Staffing: Hays' 1Q26 trading update. Var Energi: Ramping up production as planned

Jacob Mekhael ... (+4)
  • Jacob Mekhael
  • Kristof Samoy
  • Thomas Couvreur
  • Wim Lewi
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

ASR: Small funeral deal, waiting for larger M&A. DEME Group: Bags another offshore wind contract. GBL: Sienna Investment Managers transaction pending. Kinepolis: Sept 2025 box office in US/Canada at 83% of pre covid levels, France at 84%

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Belgian telcos: Digi launches new mobile offer at €7 per month with 30GB D'Ieteren: Belgium Sept car registration, Febiac cuts 2025 outlook to 405-410k new cars Dutch insurance: Achmea Sixth Steet JV done, new entrant for buyouts for ASR and NN Heijmans: I'm a steamroller baby Prosus: Just Eat Takeaway offer unconditional WDP: €22m investment in Romania

Guy Sips ... (+7)
  • Guy Sips
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Michiel Declercq
  • Thomas Couvreur
  • Wim Lewi
Guy Sips ... (+8)
  • Guy Sips
  • Kristof Samoy
  • Livio Luyten
  • Michiel Declercq
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi

Dynamic Top Pick List Update October: Removing VGP – Adding Shurgard a...

In this October update of our Dynamic Top Pick List we are removing VGP while adding Shurgard and Wolters Kluwer. Since its recent inclusion in our Dynamic Top Pick List in July-25, VGPs share rose by 10.6%. While we still believe there is significant upside to the share price, we don't see short term catalysts. In fact, the macro picture remains cloudy with the jury still out on the impact of tariffs and the erratic US policy shifts. Also, we are a bit concerned that competition in Western Eur...

 PRESS RELEASE

Public announcement in accordance with article 7:97, § 4/1 of the Belg...

Public announcement in accordance with article 7:97, § 4/1 of the Belgian Code of Companies and Associations ("CCA") concerning the signing of a Pledge Agreement and a Letter of Consent and Release with Enodia Public announcement in accordance with article 7:97, § 4/1 of the Belgian Code of Companies and Associations ("CCA") concerning the signing of a Pledge Agreement and a Letter of Consent and Release with Enodia Signing of a Pledge Agreement and a Letter owf Consent and Release with Enodia in connection with the demerger of VOO On 2 June 2023, within the framework of the acquisition o...

 PRESS RELEASE

Annonce publique conformément à l'article 7:97, § 4/1 du Code des soci...

Annonce publique conformément à l'article 7:97, § 4/1 du Code des sociétés et des associations (« CSA ») concernant la conclusion d’une Convention de Gage et d’une Lettre de Consentement et Mainlevée avec Enodia Annonce publique conformément à l'article 7:97, § 4/1 du Code des sociétés et des associations (« CSA ») concernant la conclusion d’une Convention de Gage et d’une Lettre de Consentement et Mainlevée avec Enodia Conclusion d’une Convention de Gage et d’une Lettre de Consentement et Mainlevée avec Enodia dans le cadre de la scission de VOO Le 2 juin 2023, dans le cadre de l'acquisi...

 PRESS RELEASE

Openbare aankondiging in overeenstemming met artikel 7:97, § 4/1 van h...

Openbare aankondiging in overeenstemming met artikel 7:97, § 4/1 van het Wetboek van vennootschappen en verenigingen ('WVV') over het afsluiten van een Pandovereenkomst en een Brief van instemming en opheffing met Enodia Openbare aankondiging in overeenstemming met artikel 7:97, § 4/1 van het Wetboek van vennootschappen en verenigingen ('WVV') over het afsluiten van een Pandovereenkomst en een Brief van instemming en opheffing met Enodia Afsluiting van een Pandovereenkomst en een Brief van instemming en opheffing met Enodia in het kader van de splitsing van VOO In het kader van de overnam...

Brederode S.A: 1 director

A director at Brederode S.A bought 2,000 shares at 105.000EUR and the significance rating of the trade was 72/100. 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...

 PRESS RELEASE

Nyrstar NV: Ruling of the FSMA’s Sanctions Committee

Nyrstar NV: Ruling of the FSMA’s Sanctions Committee Regulated Information Nyrstar NV: Ruling of the FSMA’s Sanctions Committee 28 September 2025 at 16:30 CET Nyrstar NV acknowledges the decision issued last Friday by the Sanctions Committee of the Belgian Financial Services and Markets Authority (FSMA) in the context of the investigation initiated in September 2019 in relation to Nyrstar’s information disclosure on 30 October 2018 (the Review Date). Nyrstar NV has always stated that it complied with the rules under the Market Abuse Regulation (MAR) and that it communicated accurately a...

 PRESS RELEASE

Nyrstar NV: Beslissing van de Sanctiecommissie van de FSMA

Nyrstar NV: Beslissing van de Sanctiecommissie van de FSMA Gereglementeerde informatie Nyrstar NV: Beslissing van de Sanctiecommissie van de FSMA 28 september 2025 om 16u30 CET Nyrstar NV heeft kennisgenomen van de beslissing van de Sanctiecommissie van de Belgische Autoriteit voor Financiële Diensten en Markten (FSMA) van afgelopen vrijdag in het kader van het onderzoek dat in september 2019 werd opgestart naar Nyrstars informatieverstrekking op 30 oktober 2018 (de Beoordelingsdatum). Nyrstar NV heeft altijd benadrukt dat ze de voorschriften van de Marktmisbruikverordening (MAR) heeft ...

Hilde Van Boxstael ... (+4)
  • Hilde Van Boxstael
  • Livio Luyten
  • Wim Hoste
  • Wim Lewi
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Belgian telecoms: Telenet increases its fixed internet speed at unchanged price Colruyt: FY25/26F profitability guidance maintained despite market share loss Corbion: Keep Calm and Carry On Fagron: Acquires UCP, adding to its 503A health and wellness offering in California GBL: Planning ahead to deliver on its promise OCI: Limited details on Orascom merger, sales process for Nitrogen Europe ongoing TKH Group: Mixed emotions Wolters Kluwer: Launches UpToDate Expert AI

Livio Luyten
  • Livio Luyten

Brederode Currency headwinds weigh on the private equity portfolio

In 1H25, Brederode's NAV per share declined 4.4% to €135.2 (vs. €141.4 at FY24-end). The decline was driven by a €164.7m loss in the Private Equity portfolio, now valued at €2.7bn. The primary cause was the USD's depreciation of over 14% during the period. With ~66% of the Private Equity portfolio exposed to USD, currency risk remains a concern. The listed securities portfolio partially offset the loss with a €24.9m gain, led by strong performances in electricity and healthcare sectors. Cash flo...

Guy Sips ... (+6)
  • Guy Sips
  • Hilde Van Boxstael
  • Livio Luyten
  • Michiel Declercq
  • Wim Hoste
  • Wim Lewi

Morning Notes : BREB BB, OPTI BB, EXM BB, SOLB BB, WDP BB, DEME BB, JD...

: BREB BB, OPTI BB, EXM BB, SOLB BB, WDP BB, DEME BB, JDEP NA, ENRGY BB

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

B&S: Sarabel launches recommended all cash offer; Belgian Telecoms: Digi confirms possible minority stake disposal in Spain; market test for Flanders cooperation agreement due any time; Exor: Great companies outperforming the benchmark; PostNL: Feedback on Capital Markets Day event 2025 - new strategy and ambitions 2028; UCB: Encouraging P2a data for Galvokimig in Atopic Dermatitis; Wolters Kluwer: Accelerating share buyback programme and good start to 2H25

 PRESS RELEASE

Nyrstar NV: Publication of First Half 2025 Accounts

Nyrstar NV: Publication of First Half 2025 Accounts Regulated Information Nyrstar NV: Publication of First Half 2025 Accounts 17 September 2025 at 17:30 CET Nyrstar NV today advises that it has published its unaudited accounts for H1 2025 on the website of Nyrstar NV (). About Nyrstar NVThe Company is incorporated in Belgium and listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar NV website: For further information contact: Company Secretary    Attachment

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