reports
- Carole Braudeau
- Carole Braudeau
- Cor Kluis
- Jovan Sikimic
- Jovan Sikimic
- Usama Tariq
- Wim Gille
- Kristof Samoy
NX Filtration FIRST LOOK: 1H25 below expectations but FY25 guidance re...
1H25 revenues landed at €6.5m growing 12% y/y (26% h/h) below our €8mE. Gross margins kept up well at a high 60%. Ongoing cost efficiencies show off with FTE's down to 154 vs. 169 at year end. EBITDA stood at €-8.2m (vs. €-6.4m in 1H24 and our €-6.9mE). Guidance remained unchanged calling for FY25 revenues to grow in the 50-70% range. We are currently at the mid point of this range. In order to reach this forecast, 2H25 revenues should grow >115% y/y and >70% sequentially (h/h). We remain cautio...
- ING Helpdesk
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Thibault Leneeuw
- Thomas Couvreur
- Wim Lewi
- Wim Lewi
Retail Estates Leen Bakker gets court protection in Belgium
Leen Bakker België NV is currently under judicial protection as of 14th August 2025 and seeks buyers for its 44 stores to avoid closure. We believe this will have a limited impact on Retail Estates that leases 11 retail properties to Leen Bakker in BE. This makes up 1.39% of the rental income, while there are no arrears. The chain is owned by private equity company Gilde that bought it from Blokker Holding in 2017 and merged it with Kwantum. Both are related to home furnishing and rely on out-of...
- Jacob Mekhael
Inventiva A MASH turnaround story with big upside potential
Inventiva's lanifibranor is the next in line candidate in MASH, with its phase 3 (NATiV3) trial now fully recruited, locking in a topline readout for 2H26. The program is de-risked by a robust phase 2b, showing competitive fibrosis response rates and strong HbA1c reduction— a key differentiator for the large MASH + T2D population. With oral dosing and clean safety, lanifibranor is well-positioned to capture a meaningful share of the validated MASH commercial opportunity. A € 348m structured fina...
- Thibault Leneeuw
TKH Group What to expect for 2H25
We revised our 2025 forecasts to reflect recent performance and updated guidance across TKH's divisions. Smart Vision showed strong momentum in 1H25, which is expected to continue in 2H25. Smart Manufacturing outlook decreased following a sharper than expected decline in 1H25 and a 12.5% drop in the order book. Smart Connectivity saw better than expected revenue in 1H25, but EBITA disappointed due to lower GPm and elevated OpEx. We expect a recovery in 2H25, driven by the subsea segment and lowe...
IMCD to acquire Tillmanns to further strengthen its presence in Italy
IMCD to acquire Tillmanns to further strengthen its presence in Italy Rotterdam, The Netherlands (27 August 2025) – IMCD N.V. ("IMCD" or "Company"), a global leading partner for the distribution and formulation of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares in Tillmanns S.p.A. (“Tillmanns”). Founded in 1940 and headquartered in Milan, Italy, Tillmanns is a well-established distributor of specialty chemicals, acting as a key partner for global suppliers and a broad base of customers. With operations strongly anchored in Italy, the company oper...
The Agfa-Gevaert Group in Q2 2025: strong HealthCare IT performance, s...
The Agfa-Gevaert Group in Q2 2025: strong HealthCare IT performance, stable Digital Print & Chemicals performance – further decline in medical film Regulated information August 27, 2025 - 7:45 a.m. CET The Agfa-Gevaert Group in Q2 2025: strong HealthCare IT performance, stable Digital Print & Chemicals performance – further decline in medical film Group performance: Strong HealthCare IT performance and stable Digital Print & Chemicals performance not sufficiently offsetting the continued fast decline in medical filmAdjusted EBITDA decreased...
De Agfa-Gevaert Groep in het tweede kwartaal van 2025: Sterke prestati...
De Agfa-Gevaert Groep in het tweede kwartaal van 2025: Sterke prestatie HealthCare IT, stabiele prestatie Digital Print & Chemicals – verdere achteruitgang medische film Gereglementeerde informatie 27 augustus 2025 - 7:45 uur CET De Agfa-Gevaert Groep in het tweede kwartaal van 2025: Sterke prestatie HealthCare IT, stabiele prestatie Digital Print & Chemicals – verdere achteruitgang medische film Groepsprestatie: Sterke prestatie van HealthCare IT en stabiele prestatie van Digital Print & Chemicals volstaan niet om de ...
Ageas reports first half-year results 2025
Ageas reports first half-year results 2025 Strong results and positive outlook enable upward target revision INFLOWS NETOPERATINGRESULT OPERATIONAL CAPITALGENERATION EXPECTED 2025 CASH UPSTREAM EUR 10.5 billion EUR 734 million EUR 1.1 billion EUR 940 million +4 % vs H1 2024 +20 % vs H1 2024 -10 % vs H1 2024 +17 % vs 2024 “I am pleased to share our outstanding first-half 2025 results, which we achieved thanks to the incredible dedication of the entire Ageas team, our valued partners, and the unwavering trust ...
Ageas publie ses résultats du premier semestre 2025
Ageas publie ses résultats du premier semestre 2025 Résultats solides et perspectives positives permettent de réviser les objectifs à la hausse ENCAISSEMENTS RÉSULTATOPÉRATIONNELNET GÉNÉRATION DE CAPITAL OPÉRATIONNEL TRÉSORERIE EN AMONT PRÉVUE POUR 2025 EUR 10,5 milliards EUR 734 millions EUR 1,1 milliards EUR 940 millions +4% vs S1 2024 +20% vs S1 2024 -10% vs S1 2024 +17% vs S1 2024 « Je suis heureux de partager nos excellents résultats du premier semestre 2025, que nous avons obtenus grâce à l’incroyable dévouement de toute l’équipe d’Ageas, de nos...
Ageas rapporteert resultaten over het eerste halfjaar 2025
Ageas rapporteert resultaten over het eerste halfjaar 2025 Sterk resultaat en positieve vooruitzichten maken opwaartse bijstelling van doelstellingen mogelijk PREMIE INKOMEN NETTOOPERATIONEELRESULTAAT GEGENEREERD OPERATIONEELKAPITAAL VERWACHTECASH OPSTROMING2025 EUR 10,5 miljard EUR 734 miljoen EUR 1,1 miljard EUR 940 miljoen +4% vs H1 2024 +20% vs H1 2024 -10% vs H1 2024 +17% vs H1 2024 “Met trots deel ik onze uitstekende resultaten over het eerste halfjaar van 2025, gerealiseerd dankzij de ongelooflijke inzet van het volledige Ageas-team, onze gewaa...
- Emmanuel Matot
- Thomas Zlowodzki
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