reports
- 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.
- Jacob Mekhael
- Lynn Hautekeete
- Thomas Couvreur
- Wim Lewi
- Wim Lewi
Montea Expansion in Port of Ghent via CiK
Montea announced a contribution in kind (CiK) transaction of a 20k sqm site from Tailormade Logistics (TML), who will lease it back for at least 10 yrs. The transaction amounts to EUR 12.2m as Montea issues 148,396 new shares at EUR 82.00 per share. That equals a discount of 3.19% over the last 3 trading days. The yield on the transaction is reported at 6.7%. Montea also enters into an agreement with North Sea Ports. This indicates that the land is most likely in concession (renewed). This would...
Minutes General Meeting
Minutes General Meeting Minutes General Meeting Regulatory release 15 May 2024, 8.00 am CET Kinepolis Group NV has held her Ordinary General Meeting on 8 May 2024. All proposed agenda items were approved.The minutes of the meeting can be consulted on the website of Kinepolis Group KINEPOLIS GROUP NV Eeuwfeestlaan 20, 1020 BrusselsEnterprise Number VAT BE 0415.928.179 RLP Brussels, Dutch speaking department -
Procès-Verbal de l’Assemblée générale
Procès-Verbal de l’Assemblée générale Procès-Verbal de l’Assemblée générale Information réglementée 15 mai 2024, 8h00 L’Assemblée générale ordinaire de Kinepolis Group SA s’est tenue en date du 8 mai 2024. Tous les points de l’ordre du jour ont été approuvés. Le procès-verbal de l’assemblée peut être consulté sur le site web de Kinepolis Group KINEPOLIS GROUP SA Boulevard du Centenaire 20, 1020 BruxellesN° d'entreprise TVA BE 0415.928.179 RPM Bruxelles, département néerlandophone -
Notulen Algemene Vergadering
Notulen Algemene Vergadering Notulen Algemene Vergadering Gereglementeerde informatie 15 mei 2024, 8u00 Kinepolis Group NV heeft op 8 mei 2024 een Gewone Algemene Vergadering gehouden. Alle voorgestelde agendapunten werden goedgekeurd.De notulen van de vergadering zijn te raadplegen op de website van Kinepolis Group NV KINEPOLIS GROUP NV Eeuwfeestlaan 20, 1020 BrusselOndernemingsnummer BTW BE 0415.928.179 RPR Brussel, Nederlandstalige afdeling -
- Francesca Ferragina
Montea/Model update/HOLD
Montea's 1Q24 results were good with a 4.3% LFL and strong rents dynamic. Financials were sound with a 36.4% LTV, up from 33.5% in 4Q23 on the back of developments and the €50m German acquisition. We like the fact that Montea has already reinvested 70% of the capital raised last year (€87m in November). The portfolio value increased 4.3% YTD to €2.4bn and LFL valuations moved in a positive direction, up by €12m (or +0.5%): a small but meaningful message that the trend is reverting. 2024 guidance...
Payment of dividend
Payment of dividend Payment of dividend Regulatory release 8 May 2024, 2 p.m. The Ordinary General Meeting of Kinepolis Group NV has decided today to pay out a dividend of € 0,55 gross per share to the shareholders (€ 0,385 net after deduction of 30% withholding taxes). The dividend will be paid out as from 15 May 2024. The ex coupon date is fixed at 13 May 2024 and the record date at 14 May 2024. KINEPOLIS GROUP NV Public limited company that is making or has made a public appeal to savingsEeuwfeestlaan 20, 1020 BrusselsEnterprise Number VAT BE 0415.928.179 RLP Brussels
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 05/08/2024 Date Performance sin...
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- Gerardo Ibanez
- Steven Boumans
ODDO BHF Small & MIDCAP MORNING NEWS - 08/05/2024 Date Performance dep...
Unifiedpost is a niche SaaS player in the e-invoicing and procurement channel space. Regulatory headwinds mean this market is ripe for growth, which should benefit Unifiedpost. Due to some unsuccessful past M&A, the company is in a challenging financial position today. However, it has recently embarked on a divestment path, aiming to streamline the business and improve its fundamentals. We like the new direction, however prefer to take a wait-and-see approach. - ...
OUT1V OUTOKUMPU OYJ
ZIL2 ELRINGKLINGER AG
SBMO SBM OFFSHORE NV
EURN EURONAV NV
LEI LEIFHEIT AG
LXS LANXESS AG
KCO KLOECKNER & CO SE
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MAREL MAREL HF.
NDA AURUBIS AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
TLGO TALGO SA
RUI RUBIS SCA
B4B METRO AG
S92 SMA SOLAR TECHNOLOGY AG
INS INSTONE REAL ESTATE GROUP AG
JEN JENOPTIK AG
CLA CLARANOVA SE
HAG HENSOLDT AG
COP COMPUGROUP MEDICAL SE & CO. KGAA
KTA KNAUS TABBERT
SFQ SAF-HOLLAND SE
AERO MONTANA AEROSPACE AG
YOU ABOUT YOU HLDG AG
SYAB SYNLAB AG
ALVGO VOGO SA
STM STABILUS SE
- ING Helpdesk
Benelux Morning Notes
AB InBev: Busy BEES. Ahold Delhaize: Small beat, comforting confirmation of 2024 guidance. AMG: 1Q24 better than expected, FY guidance intact, strategic projects on schedule. Bekaert: Soft start to the year with 7% sales miss, FY guidance maintained. Euronav: Transformation at full speed. Marel: Another lacklustre quarter. Montea: 2025 guidance raised, valuations moving into positive territory. SBM Offshore: In-line Q1 trading update. Sif Group: Preview - normal quarter e...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Wim Lewi
Montea FIRST LOOK 1Q24 results : raises FY25 outlook on faster complet...
Net Rental Income of EUR 27.2m came below our expectation of 28.1m. The 1Q24 EPRA EPS of 0.98 also came below our 1.01 expectation. We expected a bit more lfl growth and uplift from completions. However, Montea confirmed FY24 EPRA EPS to 4.55 (excl. FBI) and even raised FY25 EPRA EPS from 4.65 to 4.75 thanks to a faster expected completion of its pipeline. We are still awaiting the Tiel (NL, 91k GLA) permit. This could result in a pipeline acceleration FY25. Another positive effect is a flat Ne...
- Gerardo Ibanez
- Steven Boumans
Montea : Q1 2024 results: An increased guidance on faster developments
>Increased FY2025 EPRA EPS guidance by 2%, solid operating results - FY2024 EPRA EPS € 4.55 forecast reiterated and FY2025 forecast increased +2.2% to €4.75 (from €4.65) as a result of favourable changes in expected completion dates of developments. The annual investment target is unchanged at €260m investments in FY2024 and €200m in FY2025 and both EPS forecasts are excl. positive FBI impact.Like-for-like rental growth of c. 4% (FY2023: 7%), of which 3% from in...
- Inna Maslova
Montea - Q1 fully in line, 2025 guidance lifted
LfL rents were up 4.3%, driven by indexation (3.4%) and portfolio relettings and renewals (0.9%). Occupancy remains at 100%.Portfolio has seen a EUR 99m value increase, EUR 12m of which is linked to increased valuations. EPRA NIY remained stable at 5.1%.EPRA LTV stood at 34.8%, up 150bps vs December end.Growth ambitions remain on track with EUR 260m investment volume target reiterated.The company lifts its 2025 EPRA EPS guidance to EUR 4.75 from EUR 4.65 as a result of earlier than expected comp...
- ING Helpdesk
Benelux Morning Notes
Kinepolis: Weak US/Canada box office and France attendance in April. NSI: FS NL Holdings acquires c.10% from ICAMAP for c.€43m. PostNL: 1Q24 touch below; FY24 outlook reiterated and parcel volumes accelerate. Staffing: US temp volume trend still soft but stable, NFP jobs miss. TKH Group: A weak quarter indeed
- Vincent Koppmair
Shurgard - Q1 2024 - A start to 2024
All store revenue up 7.1% YoY at EUR 93.4m driven by higher rent prices (4.2%), and larger portfolio (+4.9%), offset by lower occupancy (86.7%)Same store revenue up 4.0% (CER), average occupancy is down 60bps at 89.2% YoY, and in place rent up 3.3%.EPRA results up 12.6% YoY, EPRA EPS at EUR 0.35 (+3.1%) post ABB.Leverage remains very low at 14.6% (vs. 13% at December end) and net debt/EBITDA at 3.5x and ICR stands at 13.4x.We reiterate our ‘Buy' rating and EUR 47.00 TP.More details in our N...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- 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...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Lynn Hautekeete
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
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