reports
- Julian Dobrovolschi
- Adrian Pehl
EO FAURECIA SA
ZIL2 ELRINGKLINGER AG
F3C SFC ENERGY AG
OERL OC OERLIKON CORPORATION AG
ELG ELMOS SEMICONDUCTOR SE
SOLB SOLVAY SA
NEX NEXANS SA
UTG UNITE GROUP PLC
INH INDUS HOLDING AG
WIE WIENERBERGER AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
VASTB VASTNED RETAIL BELGIUM NV
DOKA DORMAKABA HOLDING AG
ALR ALIOR BANK SA
GLPG GALAPAGOS NV
ALM ALMIRALL SA
MVC METROVACESA SA
THEON THEON INTERNATIONAL PLC
ORP ORPEA
EXENS EXOSENS
FERGR FERRARI GROUP PUBLIC LIMITED COMPANY
- Adrian Pehl
EO FAURECIA SA
ZIL2 ELRINGKLINGER AG
F3C SFC ENERGY AG
OERL OC OERLIKON CORPORATION AG
ELG ELMOS SEMICONDUCTOR SE
SOLB SOLVAY SA
NEX NEXANS SA
UTG UNITE GROUP PLC
INH INDUS HOLDING AG
WIE WIENERBERGER AG
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
VASTB VASTNED RETAIL BELGIUM NV
DOKA DORMAKABA HOLDING AG
ALR ALIOR BANK SA
GLPG GALAPAGOS NV
ALM ALMIRALL SA
MVC METROVACESA SA
THEON THEON INTERNATIONAL PLC
ORP ORPEA
EXENS EXOSENS
FERGR FERRARI GROUP PUBLIC LIMITED COMPANY
- Julian Dobrovolschi
- ING Helpdesk
Benelux Morning Notes
CFE: Preview: underlying 2026 margin to improve / DEME: Preview: strong 2025, eyes on 2026 outlook / JDE Peet's: Acquisition by KDP expected to close in 2Q26 / Solvay: 2025 ends with strong FCF; 2026F und. EBITDA guidance slightly below, supported by one-off / UCB: Peer Moonlake investor day / Vastned: Beat on bottom line with operational metrics accelerating, but outlook remains weak
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Wim Hoste
Solvay FIRST LOOK: 4Q25 soft but in line with consensus, cautious FY26...
4Q uEBITDA dropped by c. 30% organ. and was in line with CSS and c. 5% below our forecast. FY26 uEBITDA guidance of € 770-850m represents a 4-13% y/y decline and is at midpoint c. 2% below consensus and 7% below our forecast. The dividend policy (stable to increasing from a € 2.43 base) looks increasingly generous as the FY26 FCF will not be enough to service the dividend and will hence push up leverage from the current 1.8x. Despite the attractive dividend yield (c 9%), the tough market conditi...
- Stefano Toffano
- Julian Dobrovolschi
Solvay fourth quarter and full year 2025 results
Solvay fourth quarter and full year 2025 results Press release Regulated information published on February 24, 2026, at 7:00 a.m. CET Strong free cash flow delivery in 2025 in a challenging environment Highlights Underlying net sales for the full year 2025 were €4.3 billion, -6.5% organically versus 2024. Soda ash seaborne and Coatis markets were weaker in 2025 while Peroxides and bicarbonate grew year-on-year. Underlying EBITDA was €881 million (-13.4% organically versus 2024), maintaining a strong underlying EBITDA margin of 20.7% despite challenges. Strategic t...
Solvay : résultats du quatrième trimestre et de l’année 2025
Solvay : résultats du quatrième trimestre et de l’année 2025 Communiqué de presse Information réglementée publiée le 24 février 2026 à 7h00 CET Forte génération de cash dans un environnement difficile Faits marquants Le chiffre d'affaires net sous-jacent pour l’ensemble de l’année 2025 s’élève à €4,3 milliards, en baisse de ‑6,5% en organique par rapport à 2024. Les marchés export du carbonate de soude et de Coatis ont été plus faibles en 2025, tandis que les peroxydes et le bicarbonate ont progressé d’une année sur l’autre. L’EBITDA sous-jacent ressort à €881 mi...
Solvay 2025 vierde kwartaal en jaarresultaten
Solvay 2025 vierde kwartaal en jaarresultaten Persbericht Gereglementeerde informatie, gepubliceerd op 24 februari 2026, om 7u00 CET Sterke vrije kasstroomgeneratie in een uitdagende omgeving Hoogtepunten De onderliggende netto-omzet voor het volledige jaar 2025 bedroeg €4,3 miljard, ‑6,5% organisch versus 2024. De overzeese Soda ash markt en de Coatis markt waren zwakker in 2025 terwijl Peroxides en bicarbonaat groeiden jaar-op-jaar. Onderliggende EBITDA bedroeg €881 miljoen (‑13,4% organisch versus 2024), met behoud van een sterke onderliggende EBITDA‑marge van ...
- Amira Manai
- Andreas Riemann
- Bruno Cavalier
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
PNL POSTNL NV
01913 PRADA S.P.A.
KRN KRONES AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
HOME NEINOR HOMES SA
MEDCL MEDINCELL SA
AEDAS AEDAS HOMES SA
MRX MISTER SPEX SE
FUR FUGRO NV
ZGN ERMENEGILDO ZEGNA NV
AF AIR FRANCE - KLM
EXENS EXOSENS
- Amira Manai
- Andreas Riemann
- Bruno Cavalier
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
PNL POSTNL NV
01913 PRADA S.P.A.
KRN KRONES AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
HOME NEINOR HOMES SA
MEDCL MEDINCELL SA
AEDAS AEDAS HOMES SA
MRX MISTER SPEX SE
FUR FUGRO NV
ZGN ERMENEGILDO ZEGNA NV
AF AIR FRANCE - KLM
EXENS EXOSENS
- Carole Braudeau
Credit Morning 02/19/2026
Constellium: very strong Q4 2025 results with the momentum continuing into H1 2026|Eramet publishes weak results for 2025 but takes radical measures to rapidly improve its financial structure, notably with a plan to strengthen its equity capital by € 500m|AF-KLM: Unit costs under control enabling good profitability levels|
- Charlotte Vaisse
- Equipe Sustainability
- Luis de Toledo Heras
- Marc Lavaud
VLS VALNEVA SE
BAMNB KONINKLIJKE BAM GROEP NV
NEX NEXANS SA
ERA ERAMET SA
VID VIDRALA SA
KRN KRONES AG
CARM CARMILA SAS
IRES IRISH RESIDENTIAL PROPERTIES REIT PLC
SHOT SCANDIC HOTELS GROUP
SAFE SAFESTORE HOLDINGS PLC
VGP VGP NV
BRAV BRAVIDA HOLDING AB
FTG111 FLATEXDEGIRO AG
TKO TIKEHAU CAPITAL SCA
DUE DURR AG
2CRSI 2CRSI SA
AZE AZELIS GROUP NV
AF AIR FRANCE - KLM
LOCAL SOLOCAL GROUP
- Charlotte Vaisse
- Equipe Sustainability
- Luis de Toledo Heras
- Marc Lavaud
VLS VALNEVA SE
BAMNB KONINKLIJKE BAM GROEP NV
NEX NEXANS SA
ERA ERAMET SA
VID VIDRALA SA
KRN KRONES AG
CARM CARMILA SAS
IRES IRISH RESIDENTIAL PROPERTIES REIT PLC
SHOT SCANDIC HOTELS GROUP
SAFE SAFESTORE HOLDINGS PLC
VGP VGP NV
BRAV BRAVIDA HOLDING AB
FTG111 FLATEXDEGIRO AG
TKO TIKEHAU CAPITAL SCA
DUE DURR AG
2CRSI 2CRSI SA
AZE AZELIS GROUP NV
AF AIR FRANCE - KLM
LOCAL SOLOCAL GROUP
- Charlotte Vaisse
- Equipe Sustainability
- Julian Dobrovolschi
- Marc Lavaud
ENX EURONEXT NV
PEO BANK POLSKA KASA OPIEKI SA
CA CARREFOUR SA
ADP AEROPORTS DE PARIS SA
RNO RENAULT SA
EFGN EFG INTERNATIONAL AG
COV COVIVIO SA
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
RI PERNOD RICARD SA
NESN NESTLE S.A.
WKL WOLTERS KLUWER NV
AIR AIRBUS SE
VER VERBUND AG CLASS A
REP REPSOL SA
BA. BAE SYSTEMS PLC
CRG CRH PLC
GAS NATURGY ENERGY GROUP S.A.
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SAN BANCO SANTANDER S.A.
RIO RIO TINTO PLC
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
KBX KNORR-BREMSE AG
MRNA MODERNA INC.
FDJ LA FRANCAISE DES JEUX SA
FER FERROVIAL SA
AGN AEGON N.V.
TEN TENARIS S.A.
PUIG PUIG BRANDS
AMRZ AMRIZE AG
- Charlotte Vaisse
- Equipe Sustainability
- Julian Dobrovolschi
- Marc Lavaud
ENX EURONEXT NV
PEO BANK POLSKA KASA OPIEKI SA
CA CARREFOUR SA
ADP AEROPORTS DE PARIS SA
RNO RENAULT SA
EFGN EFG INTERNATIONAL AG
COV COVIVIO SA
ORA ORANGE SA
TKA TELEKOM AUSTRIA AG
RI PERNOD RICARD SA
NESN NESTLE S.A.
WKL WOLTERS KLUWER NV
AIR AIRBUS SE
VER VERBUND AG CLASS A
REP REPSOL SA
BA. BAE SYSTEMS PLC
CRG CRH PLC
GAS NATURGY ENERGY GROUP S.A.
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SAN BANCO SANTANDER S.A.
RIO RIO TINTO PLC
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
KBX KNORR-BREMSE AG
MRNA MODERNA INC.
FDJ LA FRANCAISE DES JEUX SA
FER FERROVIAL SA
AGN AEGON N.V.
TEN TENARIS S.A.
PUIG PUIG BRANDS
AMRZ AMRIZE AG
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