reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update May 2024 : Adding Fugro, Removing Arcadis
In this May edition of our Dynamic Top Pick List we replace Arcadis by Fugro. Arcadis continues to deliver consistently on its promises and is working hard to realise its 2026 margin targets via cross selling, leveraging its global engineering platform and numerous self-help measures. In spite of this we remove Arcadis from our Dynamic Top Pick List as the recent & strong share price performance leaves little room for further short term triggers As a service provider to the energy industry, Fu...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
SOLB SOLVAY SA
DIE D'IETEREN SA
SOF SOFINA SA
GIMB GIMV NV
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
TUB FINANCIERE DE TUBIZE S.A.
CPINV CARE PROPERTY INVEST SA
TWEKA TKH GROUP N.V. CERT
TINC TINC COMM. VA
FUR FUGRO NV
SHUR SHURGARD SELF STORAGE LIMITED
SYENS SYENSQO
Barco NV: 2 directors
Two Directors at Barco NV bought 1,214,218 shares at between 12.955EUR and 13.016EUR. The significance rating of the trade was 68/100. 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 la...
Repurchase of Shares
Repurchase of Shares Repurchase of Shares Amsterdam, the Netherlands - Flow Traders Ltd. (Euronext: FLOW) has repurchased 29,000 of its own shares in the period from 25 April 2024 up to and including 26 April 2024 at an average price of €19.96. This is in accordance with the €15 million share buyback extension program originally announced on 27 October 2022, of which the period of execution was announced on 28 July 2023 to be extended by 12 months to 26 October 2024. The consideration of this purchase was €0.6 million. The total number of shares purchased under this program to date is...
- Kristof Samoy
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Thomas Vranken
UCB Model update: UCB's five growth drivers into the next decade
UCB is entering a next stage of growth as it turns the page on the loss of exclusivity of several of its mature assets. The new chapter will focus strongly on five growth drivers: Bimzelx, Rystiggo, Zilbrysq, Fintepla and Evenity. Jointly, these assets could deliver significant topline growth and margin improvements in the coming years. We have conducted an extensive update of our model to incorporate these new dynamics. Our DCF-based valuation points to a fair value of € 143 per share (previous...
- Michael Roeg
- Thomas Vranken
UCB Bimzelx launch tracker
Our Bimzelx launch tracker tool keeps an eye on the ongoing commercialization of Bimzelx in the US by looking at total prescriptions (TRx). Our latest figure for week 22 points to 898 TRx, down 2% versus last week's result, and up 11% on a 4-week rolling basis. Altogether, we see a smooth ramp-up for Bimzelx in its first months since launch.
- ING Helpdesk
Benelux Morning Notes
Azelis: Strong margin performance in weak trading results in 3% EBITA beat. BE Semiconductor Industries: 1Q24 results; prolonged downcycle. Coca-Cola Europacific Partners plc: Messy but good. DWS: Record breaking. Flow Traders: Crypto Kings. Fugro: Here we go again. Kinepolis: Weak start to the year, but a bit better than feared. UCB: Changes in the group executive committee. Unilever: Heading in the right direction. Vonovia: Disposal of 4,500 apartments for €700m. Wolters Kl...
Flow Traders Q1 2024 Trading Update
Flow Traders Q1 2024 Trading Update Flow Traders Q1 2024 Trading Update Amsterdam, the Netherlands - Flow Traders Ltd. (Euronext: FLOW) announces its unaudited Q1 2024 trading update. Highlights Flow Traders recorded Net Trading Income of €127.1m and Total Income of €129.6m in Q124, compared to €72.7m and €74.3m, respectively, in Q423, and €110.5m for both in Q123. Flow Traders’ Value Traded increased 7% in Q124 when compared to last quarter and was flat when compared to the same period last year.Total Operating Expenses were €68.5m in Q124, compared to €62.5m in Q423 and €70.3m in Q1...
- Michael Roeg
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Release of 1Q24 company-compiled consensus. AkzoNobel: Decent 1Q24 with 4% beat, FY guidance reiterated. Allfunds Group plc: On the verge. Barco: Weak 1Q24, more conservative wording on guidance. DWS: 1Q24 preview. Flow Traders: No respite in March. IMCD: Last hurdle before growth. Randstad: 1Q24 slight miss vs consensus, 2Q24 outlook below due to weak gross margin. TKH Group: Preview – a weak 1Q expected Vår Energi: Nice start to the year
- Kris Kippers
Barco - Q1 worse than expected, reaching the through?
Barco's Q1 was clearly disappointing with sales dropping more than 20% in what luckily is a rather small quarter.Whereas China remains an issue, part of the drop is also linked to the (very) high comparison base combined with destocking at client level, sometimes necessary to be ready for product renewalDespite the tough start of the year, management is confident it will surpass the 14% margin level and sales could still be flat, ie ‘when markets would not deteriorate'We stick to our B...
- ING Helpdesk
- Thomas Vranken
UCB Bimzelx launch tracker
Our Bimzelx launch tracker tool keeps an eye on the ongoing commercialization of Bimzelx in the US by looking at total prescriptions (TRx). Our latest figure for week 21 points to 914 TRx, up 3% in a holiday week versus last week's result, which was overreported after the resolution of the hack attack, and up 15% on a 4-week rolling basis. Altogether, we see a smooth ramp-up for Bimzelx in its first months since launch.
- Thomas Vranken
- Laura Roba
UCB - Green light for BIMZELX® in hidradenitis suppurativa in Europe
BIMZELX® has been granted marketing authorization in EU for the treatment of active moderate to severe hidradenitis suppurativa (HS) in adults. This approval follows positive CHMP opinion issued in March 2024.We model HS as the 2nd biggest indication for BIMZELX®, with close to EUR1bn in peak sales, after plaque psoriasis, with the EU making up about 25% of peak sales.We have a combined 85% LoA for the USA, EU, & JPN in our model and upon approval in all said geographies our TP moves up EUR 1.8 ...
- Michiel Declercq
- Thibault Leneeuw
- Thomas Vranken
- ING Helpdesk
Benelux Morning Notes
ASM International: 1Q24 Preview - focus on order intake. Barco: Preview 1Q24 - a slow start to the year. B&S Group: Solid year-end performance and healthy outlook. Fastned: 1Q24 trading update – disappointing charging volume. Staffing: Hays' 3Q23/24 trading update - warning on 3Q23/24, weaker trends
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- Thomas Vranken
UCB Bimzelx launch tracker
Our Bimzelx launch tracker tool keeps an eye on the ongoing commercialization of Bimzelx in the US by looking at total prescriptions (TRx). Our latest figure for week 20 points to 886 TRx, up 42% versus last week's result affected by incomplete 3rd-party reporting, and up 19% on a 4-week rolling basis. Altogether, we see a smooth ramp-up for Bimzelx in its first months since launch.
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