reports
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- Luis de Toledo Heras
ATO ATOS SE
NXI NEXITY SA CLASS A
FLY SOCIETE FONCIERE LYONNAISE SA
MF WENDEL SE
EXE EXEL INDUSTRIES SA
BIO BB BIOTECH AG
MERY MERCIALYS SA
ASY ASSYSTEM SA
WHA WERELDHAVE N.V.
SWP SWORD GROUP SE
CGM CEGEDIM SA
MTU MANITOU BF SA
FII LISI SA
GBT GUERBET SA
ATE ALTEN SA
FR VALEO SE
XIOR XIOR STUDENT HOUSING N.V.
COFB COFINIMMO SA
SAVE SAVENCIA SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
VID VIDRALA SA
TIETO TIETOEVRY OYJ
VIS VISCOFAN S.A.
MONT MONTEA SCA
SIGHT GENSIGHT BIOLOGICS SA
WAF SILTRONIC AG
LIGHT SIGNIFY NV
NVG NAVIGATOR COMPANY SA
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
LFDE LA FRANCAISE DE L'ENERGIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
SPM SAIPEM S.P.A.
- Emmanuel Matot
X-FAB : Another profit warning
>Q3 results at the bottom of the guidance – sharp drop in sales in the industrial and medical sectors - X-Fab reported its Q3 2024 results yesterday evening. They are at the bottom of the guidance with a -12% drop in revenue to $ 206m (ODDO BHF / consensus = $ 210-209m - reminder Q2 = -10% and Q1 = +4%) and an EBITDA margin down -370bp to 24.4% (ODDO BHF / consensus = 25.5/25.1%).In strategic segments, the group has been experiencing a sharp drop in sales in the ...
- Konrad Zomer
Proximus : A strong operational performance with higher guidance for t...
>Another strong operational performance - Proximus had another strong quarter reporting 7.3% growth in group revenue and a 4.8% growth in underlying EBITDA. This was 1.5% above consensus at €473m. Residential reported strong growth of 3.1% in Q3 with convergent revenue growth of 6.9%. The Business unit saw revenues decline by 1.2%, including €10m lower IT revenues. Wholesale was up 3.3%, which is solid. International revenues were -2.3% (-0.9% at constant currencies)...
- Emmanuel Matot
X-FAB : Encore un profit warning
>Résultats T3 tout en bas des guidances – Fort recul des ventes dans l’industrie et le médical - X-Fab a publié hier soir ses résultats T3 2024. Ils s’inscrivent tout en bas des guidances avec un CA en retrait de 12% à 206 M$ (ODDO BHF / consensus = 210/209 M$ - rappel T2 = -10% et T1 = +4%) et une marge d’EBITDA en baisse de 370 pb à 24.4% (ODDO BHF / consensus = 25.5/25.1%).Sur les segments stratégiques, le groupe subit un fort recul de ses ventes dans l’indust...
- Russell Waller
Proximus (Neutral, TP: €12.0, +89%) Q3 24: Good numbers vs consensus ...
Proximus has reported a good set of numbers, with domestic EBITDA +2.1% ahead of consensus, and has lifted EBITDA guidance (again) for the full year (consensus is already at the raised number). In addition, Proximus has announced that it is selling its Datacenter business (inc real estate) for EV €128m as part of its €500m disposal plan.
- Roy Külter
- Steven Boumans
Xior Student Housing : Q3 2024 results: Acceleration in like-for-like ...
>Outlook reiterate; like-for-like growth for FY2024 to 6.5%; LTV flat - Outlook FY2024 EPRA EPS reiterated at € 2.21 and € 1.768 DPS.Disposals of €25m signed, expected to close in Q4. Xior announced its divestment programme is now fully realised, after we count it has disposed €245m of the initial €340m disposal program. +1.25% (+€40m) increase of like-for-like valuations for H1 2024 (H1: +1.4%).Underlying metrics remain strong with 6.5% like-for-like r...
- ING Helpdesk
Benelux Morning Notes
Cofinimmo: Dividend and investment neutrality reconfirmed. KPN: 3Q24 preview. Melexis: 3Q24 Preview, some auto weakness expected. Montea: Sound results, no sign of tenants slow down. Proximus: Small 3Q24 beat and guidance increase on Domestic, DIGI late arrival; Data centers sold in sale and lease back. Signify: 3Q24 results, some sequential improvement Wereldhave: Strong Dutch LFL growth, guidance confirmed Xior Student Housing: Stronger organic trends
- Wim Lewi
Montea 9M24 Results, no signs of market distress
Net Rental Income 9m24 came in line with our expectation at 83.2m vs. 83.8m. Like-for-like growth over 3Q24 stood at 3.4%. EPRA EPS of 3.53 is perfectly on track to reach the FY24 target of 4.73 (incl. 0.18 from FBI). Montea also confirmed FY25 EPRA EPS at 4.75. The lease renewal rate stood at 92%, so recent fears about tough market conditions in the Benelux are overdone. Another positive effect is a flat Net Initial yield at 5.1% after a period of regular yield expansion. LTV% remains in the sa...
- Sharad Kumar S.P
TINC DCU Stake Reduced To 50.0%; DCU Acquires PDC Business From Proxim...
TINC announced that 50.0% of Datacenter United (DCU) was sold to Cordiant Digital Infrastructure Limited, a UK listed digital infrastructure asset manager. Cordiant acquires the 50.0% stake in DCU both from TINC and CEO Friso Haringsma and as a result, TINC's stake in DCU declines from 75.0% to 50.0%. On the other hand, DCU has acquired the PDC business from Proximus which comprises of 4 data centres spread across 3 locations (Evere, Mechelen and Machelen) for an EV of €128.0m. TINC, Cordiant an...
- Roy Külter
- Steven Boumans
Montea : Q3 2024 results: challenges in signing new leases, leading to...
>Projects in execution declines; landbank declines; EPS outlook reiterated - Deployment of land bank decreases: € 132m capex in execution (H1: €214m); for € 260m capex ‘permit obtained, not yet pre-let’ (H1 2024: €260m); € 40m ‘pre-let, permit expected in due course’ (H1 2024: €40m). €83m in developments were delivered in Q3.Outlook recurring activities reiterated: EPRA EPS € 4.55 (FY2024) and €4.90 (FY2025).Total land bank came down to 1.8m sqm (H1 2024: 2....
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Wim Lewi
Résultats X-FAB du troisième trimestre 2024
TESSENDERLO, Belgique--(BUSINESS WIRE)-- Regulatory News: X-FAB (BOURSE:XFAB): Faits Marquants relatifs au troisième trimestre 2024 : Chiffre d’affaires trimestriel de 206,4 millions USD, se situant dans la fourchette prévisionnelle de 205-215 millions USD, en recul de 12 % par rapport au 3ème trimestre 2023 et en hausse de 1 % par rapport au 2ème trimestre 2024. Carnet de commandes totalisant 217,1 millions USD, avec un ratio de prise de commandes sur facturation de 1,05. EBITDA de 50,3 millions USD, en recul de 23 % par rapport au 3ème trimestre 2023 et en hausse de 5 % par rapport a...
DEME awarded inter-array cable and secondary steel contract for Oranje...
DEME awarded inter-array cable and secondary steel contract for Oranjewind Offshore Wind Farm DEME has been awarded a substantial contract to carry out the transport and installation works for the inter-array cables and secondary steel for the OranjeWind offshore wind farm in the Netherlands. With an installed capacity of nearly 800 MW, the wind farm is being developed by a joint venture of leading energy companies RWE and TotalEnergies. Attachment
DEME haalt contract binnen voor inter-array kabels en secundaire staal...
DEME haalt contract binnen voor inter-array kabels en secundaire staalwerken voor Oranjewind Offshore Windpark DEME heeft een substantieel contract binnengehaald voor het transport en de installatie van de inter-array kabels en de secundaire staalwerken voor het OranjeWind offshore windpark in Nederland. Met een geïnstalleerd vermogen van bijna 800 MW wordt het windpark ontwikkeld door een joint venture van de toonaangevende energiebedrijven RWE en TotalEnergies. Bijlage
- ING Helpdesk
Benelux Morning Notes
AkzoNobel: Slight miss on 3Q24, larger miss on year-end leverage Allfunds Group PLC: Strong NNM beat ASM International: Preview 3Q24; probably not too bad Azelis: 3Q24 results preview Heineken: Yet another miss Kinepolis: 3Q24 preview Philips: Preview 3Q24, some upside risk to margins Proximus: 3Q24 preview Events Calendar
- Hilde Van Boxstael
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Sharad Kumar S.P
Holdings Report - September 2024 Exor Added To The KBC Securities Hold...
1M Performance - Absolute: During Sept'24 (1M period), the KBCS Holdings Universe posted a return of -0.2% which was mainly driven by multi-asset holdings (-1.2%) while single-asset holdings posted a positive return of 2.0%. The 3 top performers during the period were Sofina (+15.3%), Financière de Tubize (+8.4%), and Brederode (+7.2%) while the 3 worst performers were Exor (-4.4%), Compagnie du Bois Sauvage (-5.5%), and D'Ieteren Group (-7.2%). YTD Performance - Relative: On a YTD basis (as o...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
DIE D'IETEREN SA
SOF SOFINA SA
GIMB GIMV NV
QFG QUEST FOR GROWTH
ACKB ACKERMANS & VAN HAAREN NV
TUB FINANCIERE DE TUBIZE S.A.
HEIO HEINEKEN HOLDING N.V.
KBCA KBC ANCORA SCA
TEXF TEXAF
BREB BREDERODE S.A.
TINC TINC COMM. VA
EXO EXOR N.V.
ROCK WHITESTONE GROUP
- Hilde Van Boxstael
- Thomas Vranken
- Wim Lewi
- Wim Lewi
Montea Montea monte la barre (raises the bar)
On the CMD in June, Montea already earmarked the French market as a prime target for growth. Rumours soon surfaced about Montea bidding for a logistic portfolio from Tristan Partners. The “Reverso” portfolio is a subset of a portfolio that Tristan Capital opportunistically acquired in 2020 in a sale-lease-back from Jacky Perrenot (after LBO). Montea increases the scale of its portfolio in France significantly. The deal is announced at a yield of 5.6%, but Montea believes it can crank the yield o...
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