reports
- ING Helpdesk
- ING Helpdesk
Benelux Morning Notes
Azelis: Highlights ING Benelux Conference London. Barco: Highlights ING Benelux Conference London. Kinepolis: Highlights ING Benelux Conference London. Melexis: Highlights ING Benelux Conference London. ABN AMRO: Dutch State reducing stake to 20%. ASML: x Mistral, a bet on A.I.. Kinepolis: Cineplex August 2025 box office revenue at 87% of 2019 level, down 27% YoY
Melexis: update on the share buy-back program
Melexis: update on the share buy-back program Press release - Regulated Information Ieper, Belgium – 8 September 2025, 17.45 hrs CET Further to the initiation of the share buy-back program announced on 10 December 2024, Melexis reports the purchase of 1,768 Melexis shares on Euronext Brussels in the period from 1 to 5 September2025. Trade dateTotal shares purchasedAverage price (€)Min price (€)Max price (€)Buyback amount (€)1/9/20250----2/9/20250----3/9/20251,76865.0064.9565.00114,9164/9/20250----5/9/20250----TOTAL1,76865.0064.9565.00114,916 As a result of purchases made since the launc...
Melexis: update over het aandeleninkoopprogramma
Melexis: update over het aandeleninkoopprogramma Persbericht - Gereglementeerde informatie Ieper, België – 8 september 2025, 17.45 uur CET Naar aanleiding van het aandeleninkoopprogramma dat op 10 december 2024 werd aangekondigd, maakt Melexis bekend dat er 1.768 eigen aandelen ingekocht werden op Euronext Brussel tussen 1 en 5 september 2025. InkoopdatumAantal verworven aandelenGemiddelde prijs (€)Laagste prijs (€)Hoogste prijs (€)Aankoop bedrag (€)1/9/20250----2/9/20250----3/9/20251.76865,0064,9565,00114.9164/9/20250----5/9/20250----TOTAAL1.76865,0064,9565,00114.916 Als gevolg van aan...
- Guy Sips
- Hilde Van Boxstael
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update September: Adding AB InBev and Exor
In this September update we added 2 stocks to the KBC Securities Dynamic Top Pick List : We added AB InBev after the share price weakened post-2Q results. ABI's 2Q volumes fell 1.9% organically, below expectations, mainly due to a 9% drop in Brazil where a price hike led to temporary market share loss. However, strong revenue per hl growth (+4.9%) drove a 6.5% organic EBITDA increase, with 1H growth at +7.2%, near the top of FY guidance (+4–8%). AB InBev, the world's largest brewer, generates ...
- Pierre FerraguÊ
Bible 2Q25 – Autos: Semi recovery underway; tangible risks of pull-for...
Today, we are publishing the Autos section of our 28th Tech Infrastructure Quarterly Bible. The Tech Bible is a must-read for any tech investor, as it summarizes the quarterly earnings reports from the over 140 companies we track, providing an update on our key perspectives and convictions. In the coming weeks we will publish sections on Hyperscale & Cloud, Telecom Equipment, PCs, Enterprise IT, Foundry and Semicap Equipment. The auto semiconductor recovery is underway, with revenues up 4% QoQ ...
NXPIN NXP SEMICONDUCTORS NV
DAI DAIMLER AG
TSLA TESLA INC
ON ON SEMICONDUCTOR CORPORATION
F FORD MOTOR COMPANY
MG/CN MAGNA INTERNATIONAL INC.
MELE MELEXIS NV
GM GENERAL MOTORS COMPANY
STM STMICROELECTRONICS NV
CON CONTINENTAL AG
VOW VOLKSWAGEN (VOW GR)
Z29 029 GROUP SE
- David Vagman
- CFA
EVS/Temporary growing pains, attractive US deal/BUY
We cut our EPS 2025F-2027F by 10%-7%, and our TP to €44 from €46 following the weak 1H25, the Telemetrics deal and a notch lower WACC. We reiterate our BUY as we think the slower EPS growth reflects the temporary impact of a new US import model and the transition to larger projects, requiring better planning. EVS is accelerating its US offensive and the credible management team is confident on 2H25. We see these issues as short term growth pains. We like the industrial and financial rationale o...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Livio Luyten
- Lynn Hautekeete
- Wim Hoste
- Wim Lewi
Nextensa sells its participation in Belgian REIT Retail Estates
Nextensa sells its participation in Belgian REIT Retail Estates PRESS RELEASE REGULATED INFORMATIONINSIDE INFORMATIONBrussels, 28 August 2025, 18:30 CEST Brussels, 28 August 2025 - Nextensa announces today that it has sold its entire 8.99% stake in the Belgian REIT Retail Estates. The deal was completed at a price of €66.30 per share, resulting in total proceeds of €89.6 million. This represents a substantial capital gain compared to the valuation applied in Nextensa’s half-year results published on 13 August 2025 (€61.50 per share).The transaction generates a strong inflow of cash, lo...
Nextensa vend sa participation dans SIR belge Retail Estates
Nextensa vend sa participation dans SIR belge Retail Estates COMMUNIQUÉ DE PRESSE INFORMATION RÉGLEMENTÉEINFORMATION PRIVILÉGIÉEBruxelles, 28 août 2025, 18h30 Bruxelles, 28 août 2025 - Nextensa annonce aujourd'hui qu'elle a vendu l'intégralité de sa participation de 8,99% dans la SIR belge Retail Estates. La transaction a été réalisée à un prix de 66,30 € par action, pour un montant total de 89,6 millions d'euros. Cela correspond à une plus-value significative par rapport à la valorisation reprise dans les résultats semestriels de Nextensa du 13 ao...
Nextensa verkoopt participatie in Belgische GVV Retail Estates
Nextensa verkoopt participatie in Belgische GVV Retail Estates PERSBERICHT GEREGLEMENTEERDE INFORMATIEVOORWETENSCHAPBrussel, 28 augustus 2025, 18u30 Brussel, 28 augustus 2025 - Nextensa maakt vandaag bekend dat zij haar volledige participatie van 8,99% in de Belgische GVV Retail Estates heeft verkocht. De deal werd afgerond tegen een prijs van €66,30 per aandeel, goed voor een opbrengst van €89,6 miljoen. Dit vertegenwoordigt een aanzienlijke meerwaarde ten opzichte van de waardering die werd opgenomen in Nextensa’s halfjaarresultaten van 13 augustus 2025 (€61,50 per aandeel). De tran...
- Wim Lewi
AEX from 25 to 30, place your bets Our candidates for the AEX expansio...
The AEX is set to expand from 25 to 30 constituents starting on 23rd September, announcement on 9th September after close. This marks a significant change since its last expansion in 1994. The new rule book was published on 22/08/25 and leaves some room for interpretation for companies that have another primary listing (WDP). We believe that WDP meets the requirement for “reference market”. The expansion will be based on Free Float Market Capitalization, with a buffer zone to manage transitions....
EVS Broadcast Equipment SA: 1 director
A director at EVS Broadcast Equipment SA bought 12,500 shares at 35.390EUR and the significance rating of the trade was 95/100. 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 ...
- ING Helpdesk
Benelux Morning Notes
Ackermans & van Haaren: Expect buoyed contribution from Private Banking. ASR: 1H: strong solvency, buyouts at 12% IRR. Deceuninck: Weak set of results, as expected following the change in CEO. EVS: Very weak 1H25, but guidance unchanged; convincing bolt-on deal in the US. IBA: IBA to install one P1 system at university campus in Heidelberg, Germany. NEPI Rockcastle: Robust performance, small upward revision to guidance
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Guy Sips
EVS Broadcast Equipment 1H25 below expectations, guidance maintained a...
Although 1H25 revenues (€91.8m) and EBIT (€14.8m) came in below our (€96.6m, €18.7m) and CSS (€100.2m, €20.0m) expectations, EVS remains cautiously optimistic for FY25 and reaffirms its previously announced guidance as the foundations laid in 1H25 will support a strong 2H25. We also welcome EVS' significant strategic acquisition of US based Telemetrics, specialised in robotic camera systems for live news and live content production. This acquisition not only broadens EVS product portfolio but al...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thomas Couvreur
- Wim Lewi
- Marc Hesselink
- CFA
- Thymen Rundberg
Melexis/Slow cyclical recovery/HOLD
Melexis reported a mixed 2Q25 update with the early signs of a market recovery but at the same time disappointing gross margins. We believe that automotive semiconductors will recover further from current lows, but we also expect ongoing uncertainty and low visibility given the major ongoing changes in the auto sector and tariff discussions We reiterate our HOLD rating but increase our target price from €60 to €70 per share given the early signs of an uptrend.
Nextensa NV/SA: Half Year results 2025
Nextensa NV/SA: Half Year results 2025 PRESS RELEASE REGULATED INFORMATIONBrussels, 13 August 2025, 5:40 PM Solid half-year results confirm Nextensa’s strategic course In the first half of 2025, Nextensa achieved a clear increase in profitability despite a challenging economic context. Net profit increased significantly, driven by a higher contribution from development activities, lower financing costs, and a further strengthening of the balance sheet. Underlying rental income recorded positive like-for-like growth, mainly thanks to improved occupancy at Moonar and Tour & Taxis...
Nextensa SA: RESULTATS SEMESTRIELS 2025
Nextensa SA: RESULTATS SEMESTRIELS 2025 COMMUNIQUÉ DE PRESSE INFORMATION REGLEMENTÉE Bruxelles, 13 août 2025, 17h40 Des résultats semestriels solides confirment la stratégie de Nextensa Au premier semestre 2025, Nextensa a enregistré une nette augmentation de sa rentabilité malgré un contexte économique difficile. Le résultat net a fortement progressé, porté par une contribution plus élevée des activités de développement, des coûts de financement réduits et un renforcement supplémentaire du bilan. Les revenus locatifs sous-jacents ont affiché une croissance positi...
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