reports
- Julian Dobrovolschi
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/17/2024
As the world leader in logistics, DHL operates in 220 countries via 5 main activities (post and parcels in Germany, Express, freight forwarding, supply chain and e-commerce). Despite buoyant structural trends (global trade, e-commerce, outsourcing of logistics chains), we are initiating coverage with a Neutral rating and target price of € 43 in the absence of short-term visibility on the global macro environment and due to the risk of a consensus downgrade. - ...
- Bruno Cavalier
- Julian Dobrovolschi
- Thijs Berkelder
Elia Group : TenneT exploring IPO of its Germany TSO
>TenneT looking for new equity funding - TenneT, TSO in Netherlands and Germany, and 100% owned by the Dutch government, yesterday issued a press release indicating:Equity requirement: "TenneT's recently announced 10-year investment plan in both countries for the period 2024-2033 adds up to EUR 160 billion, which is expected to be funded primarily through debt but also requires equity."No agreement yet on potential sale TenneT Germany to German government. "...
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Walmart 1Q24/25 results. Azelis: Share placement by EQT and PSP. Belgian telcos: Digi mobile prices to be well below competition, targets 10% mkt share. EVS: Slow start, sales guidance held on strong pipeline, EBIT guidance below consensus. Exmar: Stable start to the year. Prosus: Fabricio Bloisi (CEO iFood) appointed as group CEO. Sif Group: 1Q24 pretty much in line, timing shifts a bit
- Sharad Kumar S.P
Holdings Report - April 2024 KBCS Holdings Universe Up 0.6% Thanks To ...
1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of +0.6% which was mainly driven by single-asset holdings (+1.8%) while multi-asset holdings posted a negative return of -0.1%. The 3 top performers during the period were Financière de Tubize (+8.1%), Brederode (+7.4%), and Texaf (+6.9%) while the 3 worst performers were HAL Trust (-4.6%), Gimv (-1.5%), and D'Ieteren Group (-1.2%). YTD Performance - Relative: On a YTD basis, the KBCS Holdings Univer...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
DIE D'IETEREN SA
SOF SOFINA SA
SOLV SOLVAC S.A.
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
ROCK WHITESTONE GROUP
- ING Helpdesk
Benelux Morning Notes
AEGON: 1Q24, new unexpected SBB, underlying OCG better, strong ratios across. Belgian telecoms: Digi to start with mobile. CFE: Preview - forecasting revenue numbers… D'Ieteren: Belron US peer Boyd 1Q24 below consensus, warns on 2Q24 growth. Econocom: Joins consortium formed by Onepoint and Butler Industries to acquire Atos. KBC: 1Q24 better across, special dividend, capital distribution pushed back to 1H25. Syensqo: 1Q24 a touch better, positive earnings momentum confirmed. Umicore:...
Fugro N.V.: 1 director
A director at Fugro N.V. bought 1,600 shares at 23.670EUR and the significance rating of the trade was 54/100. 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 sho...
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview - steady in difficult markets. ABN AMRO: 1Q24 overshadowed by weaker capital, even if a strong set. AEGON: 1Q24 Preview (trading update). Alfen: Preview - clarity on one-off Pacto costs crucial. B&S Group: Bolt-on acquisition in Personal Care. Belgian telcos: BIPT notes that fibre cooperation negotiations not ready by 15 May. EVS: 1Q24 preview. Euronext: Another record, with Beats by Boujnah. Montea: €12m acquisition in the Port of Ghent. Staffing: Dutch Perio...
PROX PROXIMUS SA DE DROIT PUBLIC
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
RAND RANDSTAD NV
MONT MONTEA SCA
AALB AALBERTS N.V.
BRNL BRUNEL INTERNATIONAL N.V.
TWEKA TKH GROUP N.V. CERT
OBEL ORANGE BELGIUM SA
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
AGN AEGON N.V.
Repurchase of Shares
Repurchase of Shares Repurchase of Shares Amsterdam, the Netherlands - Flow Traders Ltd. (Euronext: FLOW) has repurchased 73,078 of its own shares in the period from 6 May 2024 up to and including 10 May 2024 at an average price of €20.06. 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 €1.5 million. The total number of shares purchased under this program to date is 589,...
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: 1Q24 Preview. ABN AMRO: Press reports on sale of French Life Neuflize JV with AXA. Agfa-Geveart: A miss on every line. ASR: Dutch residential rental income risk insignificant. B&S Group: Solid start to the year, costs under control. DEME Group: 1Q solidifies FY24 revenue outlook. GBL: Accelerating its share buybacks. Just Eat Takeaway.com: M&A appetite. OCI: Improving 1Q24 performance at RemainCo assets, strategic update due on 2Q24
- Guy Sips
- Jacob Mekhael
- Sharad Kumar S.P
- Wim Hoste
- Guy Sips
Agfa FIRST LOOK: Weak start of the year, full year outlook maintained
As Agfa indicated before, the first quarter was very soft, even (much) softer than we and CSS expected (250m sales versus our and CSS €277m/€ 276m) and Adj. REBITDA of € 2m and 1Q24 REBIT of €-9m (KBCSe € 2.5m, CSS € 1m). As a result we lower our rating to Accumulate while maintaining our € 2 TP as for FY24, Agfa expects a continuation of the trends seen in the previous year, with continued growth for the growth engines and further profitability improvements. The slow start to the year is expect...
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year o...
The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained - regulated information Regulated information – May 14, 2024 - 7:45 a.m. CET The Agfa-Gevaert Group in Q1 2024: weak start of the year, full year outlook maintained HealthCare IT: Soft quarter following a strong Q4 2023Quarter-on-quarter improvement expected – stronger second half versus first half of the year Digital Print & Chemicals: Green Hydrogen Solutions business continued to grow substantially – ZIRFON plant project will be financed t...
De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start va...
De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start van het jaar, vooruitzichten voor volledig jaar behouden - gereglementeerde informatie Gereglementeerde informatie – 14-05-2024 - 7:45 uur CET De Agfa-Gevaert Groep in het eerste kwartaal van 2024: zwakke start van het jaar, vooruitzichten voor volledig jaar behouden HealthCare IT: Zwak kwartaal volgend op sterk 4de kwartaal van 2023Kwartaal-op-kwartaal verbetering verwacht – 2de jaarhelft zal sterker zijn dan de 1ste Digital Print & Chemicals: ...
- Laura Roba
Agfa-Gevaert - Slow start of the year, as anticipated
• Agfa's Q1 was even weaker than anticipated with sales being 8% below expectations and adj. EBIT going into negative territory• With operational gearing being negative, debt is returning on the balance sheet and now seems to result in Agfa announcing leasing as a way to hoard cash• Despite ST uncertainty, based on the expected positive earnings momentum, future growth prospects with growth engines starting to deliver and the upside to the current share price , we reiterate our BUY rating
- ING Helpdesk
- Kris Kippers
Proximus - Rumours interest in Syniverse seems overdone
US telco services provider Syniverse is put up for sale and Proximus is rumoured to be looking at the file carrying a price tag of EUR 1.4-1.9bnAlthough we do see the potential synergies given Proximus' presence in such services with Telesign, BICS and Route Mobile, it seems too far fetchedIn the coming weeks, we expect positive newsflow from collaboration on fiber in Belgium and a mini-CMD on Route MobileAll in all, we stick to our BUY rating and DCF-derived TP of EUR 11.0 per share. Proxi...
- Kris Kippers
- ING Helpdesk
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Vranken
- Wim Lewi
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