reports
- David Vagman
- CFA
D'Ieteren/Defensive story, CMD to support a rerating/BUY
We think the solid 2H24 and 2025 operational guidance derisked the short term case despite the volatile macro. The 14 May CMD could help the stock to rerate, on new 2028 targets and new Belron CEO Carlos Brito presenting for the first time. We like Belron's resilience, with recessions seeing only mild drops in miles driven. We also like its self-help, price/mix and ADAS tailwinds and the large US cash market potential, even if USD depreciation is a risk (50% of sales). TVH and Auto have manageab...
Share Buyback Transaction Details April 17 – April 23, 2025
Share Buyback Transaction Details April 17 – April 23, 2025 PRESS RELEASE Share Buyback Transaction Details April 17 – April 23, 2025 Alphen aan den Rijn – April 24, 2025 - Wolters Kluwer (Euronext: WKL), a global leader in professional information, software solutions, and services, today reports that it has repurchased 71,382 of its own ordinary shares in the period from April 17, 2025, up to and including April 23, 2025, for €10.7 million and at an average share price of €149.95. These repurchases are part of the share buyback program announced o...
- Emna Ben Bdira
- Maxime Kogge
TKA THYSSENKRUPP AG
ENGI ENGIE SA.
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
COV COVIVIO SA
OUT1V OUTOKUMPU OYJ
RI PERNOD RICARD SA
SSAB A SSAB AB CLASS A
ABB ABB LTD.
SRT3 SARTORIUS AG PREF
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
NDA AURUBIS AG
NEM NEMETSCHEK SE
ARCAD ARCADIS NV
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MONC MONCLER SPA
DIM SARTORIUS STEDIM BIOTECH SA
BC BRUNELLO CUCINELLI S.P.A.
VACN VAT GROUP AG
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ASML ASML HOLDING NV
BIM BIOMERIEUX SA
AMAG AMAG AUSTRIA METALL AG
ENR SIEMENS ENERGY AG
AGN AEGON N.V.
ALIV SDB AUTOLIV INC.
- Emna Ben Bdira
- Maxime Kogge
TKA THYSSENKRUPP AG
ENGI ENGIE SA.
MT ARCELORMITTAL SA
BEKB BEKAERT SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
COV COVIVIO SA
OUT1V OUTOKUMPU OYJ
RI PERNOD RICARD SA
SSAB A SSAB AB CLASS A
ABB ABB LTD.
SRT3 SARTORIUS AG PREF
SZG SALZGITTER AG
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
NDA AURUBIS AG
NEM NEMETSCHEK SE
ARCAD ARCADIS NV
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MONC MONCLER SPA
DIM SARTORIUS STEDIM BIOTECH SA
BC BRUNELLO CUCINELLI S.P.A.
VACN VAT GROUP AG
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ASML ASML HOLDING NV
BIM BIOMERIEUX SA
AMAG AMAG AUSTRIA METALL AG
ENR SIEMENS ENERGY AG
AGN AEGON N.V.
ALIV SDB AUTOLIV INC.
Share Buyback Transaction Details April 10 – April 16, 2025
Share Buyback Transaction Details April 10 – April 16, 2025 PRESS RELEASE Share Buyback Transaction Details April 10 – April 16, 2025 Alphen aan den Rijn – April 17, 2025 - Wolters Kluwer (Euronext: WKL), a global leader in professional information, software solutions, and services, today reports that it has repurchased 116,492 of its own ordinary shares in the period from April 10, 2025, up to and including April 16, 2025, for €17.1 million and at an average share price of €147.20. These repurchases are part of the share buyback program announced ...
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview - priced like it is 2009 all over again. ABN AMRO: Pre-close 1Q – focus on capital & new CEO. Ahold Delhaize: Preview 1Q25. Arcadis: Gatwick work. Basic-Fit: 1Q25 trading update; strong membership ingrowth; CB repayment refinancing. CM.com: 1Q25 trading update. Fastned: 1Q25 trading update; disappointing charging volumes. NSI: A steady quarter, increasing vacancy on the horizon. Sligro: Soft 1Q25 sales, no outlook provided. Wereldhave: Guidance at the higher e...
- Martijn Den Drijver
- Dirk Verbiesen
- Quirijn Mulder
Arcadis/Short-term challenges/HOLD (previously Buy)
Albeit for a service company like Arcadis the direct tariffs have a modest impact on the current business, we believe that the indirect impact is significant, also on top of already mounting troubles for the sector. Arcadis is not immune, we think. Decelerating growth for its net revenues, filtering through via operational leverage leads to material lower earnings estimates for FY25 with a recovery in FY26, but from a lower point. Also, given the slowdown, we think Arcadis' FY26 margin target wi...
Solvay publishes notice of 2025 Annual General Meeting
Solvay publishes notice of 2025 Annual General Meeting Brussels, April 10, 2025, 6:00pm CEST – Regulated information Solvay today published materials for its next Ordinary General Shareholders’ Meeting, which will be held on Tuesday May 13, 2025 at the Event Lounge Conference Center, Boulevard Général Wahis 16/F, 1030 Brussels, at 10.30 am CEST. All documents relating to this meeting are now available on . Shareholders will be asked to vote on a number of resolutions, among others: the approval of the financial statements for the financial year 2024;the approval of a total gross dividen...
Solvay publie la convocation à son Assemblée Générale annuelle de 2025
Solvay publie la convocation à son Assemblée Générale annuelle de 2025 Bruxelles, le 10 avril 2025 - 18h00 CEST - Information réglementée Solvay annonce la publication des documents relatifs à sa prochaine Assemblée Générale Ordinaire, qui se tiendra le mardi 13 mai 2025 à 10h30 CEST à l’Event Lounge Conference Center situé Boulevard Général Wahis 16/F, 1030 Bruxelles. Tous les documents relatifs à cette assemblée sont désormais disponibles sur . Les actionnaires seront invités à voter sur un certain nombre de résolutions, parmi lesquelles: l’approbation des comptes annuels pour l'exerc...
Solvay publiceert oproep tot Algemene Vergadering van 2025
Solvay publiceert oproep tot Algemene Vergadering van 2025 Brussel, 10 april 2025 - 18u00 CEST - Gereglementeerde informatie Solvay heeft vandaag de documenten voor zijn volgende Gewone Algemene Vergadering gepubliceerd. Deze zal plaatsvinden op dinsdag 13 mei 2025 in het Event Lounge Conference Center, Generaal Wahislaan 16/F, 1030 Brussel, om 10.30 uur CEST. Alle documenten met betrekking tot deze vergadering zijn nu beschikbaar op . De aandeelhouders zullen worden gevraagd te stemmen over een aantal resoluties, waaronder: de goedkeuring van de jaarrekening voor het boekjaar 2024;de go...
Share Buyback Transaction Details April 3 – April 9, 2025
Share Buyback Transaction Details April 3 – April 9, 2025 PRESS RELEASE Share Buyback Transaction Details April 3 – April 9, 2025 Alphen aan den Rijn – April 10, 2025 - Wolters Kluwer (Euronext: WKL), a global leader in professional information, software solutions, and services, today reports that it has repurchased 124,929 of its own ordinary shares in the period from April 3, 2025, up to and including April 9, 2025, for €17.5 million and at an average share price of €140.42. These repurchases are part of the share buyback program announced on Fe...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
US Tariffs Navigating the impact on Benelux equities
Trumps reciprocal tariffs caused a massive blow to equity markets, following a pressured period of escalating trade wars. Retaliatory measures can further heavily damage market confidence, as seen Friday when China announced their 34% tarrif of US goods. International trade policies have never moved this erratic and untransparant, with uncertainty and volatility being the baseline for now. In this report we highlight the key stocks in our coverage relevant to this discussion.
EURN EURONAV NV
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
UCB UCB S.A.
COFB COFINIMMO SA
DIE D'IETEREN SA
AGFB AGFA-GEVAERT NV
IBAB ION BEAM APPLICATIONS SA
AALB AALBERTS N.V.
ONTEX ONTEX GROUP N.V.
MELE MELEXIS NV
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
EXO EXOR N.V.
ASML ASML HOLDING NV
ARGX ARGEN-X SE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ADYEN ADYEN NV
AUTL AUTOLUS THERAPEUTICS ADS
BAR BARCO NV
DEME DEME GROUP NV
FLOW FLOW TRADERS LTD
SYENS SYENSQO
Solvay releases its 2024 annual integrated report
Solvay releases its 2024 annual integrated report In 2024, Solvay introduced its “Essential for generations” strategy, delivered solid performance and launched the “For Generations” sustainability roadmap Brussels, April 3, 2025 - 6:00 pm CEST Solvay has released its Annual Integrated Report, which provides an overview of the company’s financial, environmental, and societal performance for 2024. This comprehensive document serves as a key reference for stakeholders, highlighting Solvay's new strategy as a leader in essential chemistry and how Solvay will deliver on it. It also pr...
Solvay publie son rapport annuel intégré 2024
Solvay publie son rapport annuel intégré 2024 En 2024, Solvay a présenté sa stratégie « Essential for generations », a enregistré de solides performances et a lancé la feuille de route de développement durable « For Generations » Bruxelles, le 3 avril 2025 - 18h00 CEST Solvay a publié son rapport intégré annuel, qui donne un aperçu des performances financières, environnementales et sociétales de l'entreprise pour l'année 2024. Ce document exhaustif sert de référence clé pour les parties prenantes, mettant en avant la nouvelle stratégie de Solvay en tant que leader dans le domaine de...
Solvay publiceert geïntegreerd jaarverslag 2024
Solvay publiceert geïntegreerd jaarverslag 2024 In 2024 introduceerde Solvay zijn "Essentieel voor generaties" strategie, leverde solide prestaties en lanceerde de "For Generations" duurzaamheidsroadmap Brussel, 3 april 2025, om 18u00 CEST Solvay publiceerde zijn geïntegreerd jaarverslag, dat een overzicht geeft van de financiële, milieu- en maatschappelijke prestaties van de onderneming voor 2024. Dit uitgebreide document dient als een belangrijk referentiepunt voor belanghebbenden, waarbij de nieuwe strategie van Solvay als leider in essentiële chemie wordt benadrukt en hoe Solvay ...
Share Buyback Transaction Details March 27 – April 2, 2025
Share Buyback Transaction Details March 27 – April 2, 2025 PRESS RELEASE Share Buyback Transaction Details March 27 – April 2, 2025 Alphen aan den Rijn – April 3, 2025 - Wolters Kluwer (Euronext: WKL), a global leader in professional information, software solutions, and services, today reports that it has repurchased 122,210 of its own ordinary shares in the period from March 27, 2025, up to and including April 2, 2025, for €17.6 million and at an average share price of €144.20. These repurchases are part of the share buyback program announced on F...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update April 2025: Removing Gimv – Adding Adyen
In this April 2025 update of the KBC Securities' Dynamic Top Pick List, we are removing Gimv and adding Adyen. Since adding Gimv to the Dynamic Top Pick List in mid-December 2024, Gimv's performance has remained flat. However, month-to-date, it has increased by nearly 7%, while the indices have all declined. Given the backdrop of a tariff war brewing, we think it's time to remove Gimv from the Dynamic Top Pick List as medium-sized businesses are more likely to feel the pinch of lower demand and...
- ING Helpdesk
Wolters Kluwer publishes agenda for 2025 Annual General Meeting
Wolters Kluwer publishes agenda for 2025 Annual General Meeting PRESS RELEASE Wolters Kluwer publishes agenda for 2025 Annual General Meeting Alphen aan den Rijn — April 2, 2025 — Wolters Kluwer, a global leader in professional information, software solutions, and services, today published the agenda and all related materials for the 2025 Annual General Meeting of Shareholders (AGM) to be held on May 15, 2025. The 2024 Annual Report, including the 2024 Sustainability statements, will be proposed for adoption at the AGM. The agenda further includes a proposal to distribute a total divide...
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