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Steven Gould
  • Steven Gould
Steven Gould
  • Steven Gould
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

AB InBev: 2Q25 results. Air France-KLM: Nice beat, let's see how FY25 finishes. AMG: Uptrend continues in 2Q25 with 23% EBITDA beat and guidance up to +US$200m. Aperam: Slight 2Q25 EBITDA beat, 3Q25 seen down QoQ. Arcadis: EBITA margin held up well in 2Q25, order intake mixed. Ayvens: 2Q25 results. Azelis: Soft but largely in-line 2Q25 with EMEA offsetting weaker APAC. Bekaert: 1H25 miss and lowered outlook to result in c.5% consensus downside. Corbion: Taking it to the wire. dsm...

Hilde Van Boxstael ... (+7)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Michiel Declercq
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste
  • Wim Lewi

Morning Notes : ABI BB, ARGX BB, BEKB BB, CRBN NA, DSFIR NA, ENX FP, F...

: ABI BB, ARGX BB, BEKB BB, CRBN NA, DSFIR NA, ENX FP, FAGR BB, FLOW NA, INGA NA, ONTEX BB, UCB BB, AZE BB, SYENS BB

 PRESS RELEASE

Corbion delivers Sales of € 645.6 million and an improvement of EBITDA...

Corbion delivers Sales of € 645.6 million and an improvement of EBITDA margins of +300 bps for first-half 2025; full-year outlook maintained Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through application of science, today publishes its half-year 2025 results ending 30 June 2025.  Key highlights half-year results 2025: - Organic sales growth:      +2.9%(Q2: -1.6%)      - Volume/mix:                +3.3%(Q2: -1.3%)      - Price:                          -0.4%(Q2: -0.3%) - Sales € 645.6 million(Q2: € 315.9 million) - Adjusted EBITDA: € 106.6 mill...

Hilde Van Boxstael ... (+8)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Livio Luyten
  • Lynn Hautekeete
  • Michiel Declercq
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste

Morning Notes : AVS NA, CSUA NA, GIMBb BB, KPNa NA, RANDa NA, SOFb BB,...

: AVS NA, CSUA NA, GIMBb BB, KPNa NA, RANDa NA, SOFb BB, N4SA NA, PHVS US

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aalberts: Preview - consensus below company guidance. Arcadis: We are more cautious than the average. Corbion: Fresh Blood. Lotus Bakeries: BEAR and tariffs on South Africa. Randstad: Preview of 2Q25F results due 23 July, consensus released

Jacob Mekhael ... (+4)
  • Jacob Mekhael
  • Lynn Hautekeete
  • Thomas Vranken
  • Wim Hoste
Olfa Taamallah ... (+3)
  • Olfa Taamallah
  • Roy Külter
  • Yan Derocles
Olfa Taamallah ... (+3)
  • Olfa Taamallah
  • Roy Külter
  • Yan Derocles
Guy Sips ... (+5)
  • Guy Sips
  • Kristof Samoy
  • Livio Luyten
  • Thomas Vranken
  • Wim Hoste
Guy Sips ... (+6)
  • Guy Sips
  • Kristof Samoy
  • Livio Luyten
  • Michiel Declercq
  • Thibault Leneeuw
  • Wim Hoste

Benelux Local Champions Feedback document

Below our feedback notes written at the occasion of our annual Benelux Local Champions Conference that took place on 27 May 2025 at our historic building at Grand Place Brussels. This event offered the possibility to have one-on-one meetings and/or small group meetings with the following Benelux companies and their top management & IR: ACKERMANS & VAN HAAREN | AHOLD DELHAIZE | AKZONOBEL | ARCADIS | AZELIS | CORBION | GBL | LOTUS BAKERIES | MELEXIS | PROXIMUS | SOFINA | UMICORE

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