reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update November 2024 – Adding Azelis – Removing ...
With 2 changes in our Dynamic Top Pick list (we add Azelis and we remove Solvay) we maintain a defensive stance on the market for 2H24. The long anticipated interest rate cuts by central banks have finally started. The Trump election victory in the US does not bode well for European stocks as he favours a protectionist course. Although industrial companies with a US base could actually benefit. Cleantech names with exposure to the US could also suffer (unless owned by E.Musk). We expect the US ...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
COFB COFINIMMO SA
DIE D'IETEREN SA
SOF SOFINA SA
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
KIN KINEPOLIS GROUP NV
NN NN GROUP N.V.
TINC TINC COMM. VA
FUR FUGRO NV
AZE AZELIS GROUP NV
SYENS SYENSQO
- Sharad Kumar S.P
Holdings Report - October 2024 KBCS Holdings Universe Returns -2.5% Du...
1M Performance - Absolute: During Oct'24 (1M period), the KBCS Holdings Universe posted a return of -2.5% which was mainly driven by single-asset holdings (-2.8%) while multi-asset holdings posted a slightly less negative return of -2.3%. The 3 top performers during the period were Financière de Tubize (+6.7%), D'Ieteren Group (+4.5%), and Solvac (+2.8%) while the 3 worst performers were Sofina (-11.4%), Gimv (-9.8%), and Compagnie du Bois Sauvage (-6.3%). YTD Performance - Relative: On a YTD ...
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
EXO EXOR N.V.
ROCK WHITESTONE GROUP
TINC N.V: 1 director
A director at TINC N.V bought 3,000 shares at 11.520EUR and the significance rating of the trade was 53/100. 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 showi...
- Sharad Kumar S.P
TINC DCU Stake Reduced To 50.0%; DCU Acquires PDC Business From Proxim...
TINC announced that 50.0% of Datacenter United (DCU) was sold to Cordiant Digital Infrastructure Limited, a UK listed digital infrastructure asset manager. Cordiant acquires the 50.0% stake in DCU both from TINC and CEO Friso Haringsma and as a result, TINC's stake in DCU declines from 75.0% to 50.0%. On the other hand, DCU has acquired the PDC business from Proximus which comprises of 4 data centres spread across 3 locations (Evere, Mechelen and Machelen) for an EV of €128.0m. TINC, Cordiant an...
- Guy Sips
- Hilde Van Boxstael
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Wim Lewi
- Hilde Van Boxstael
- Sharad Kumar S.P
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Sharad Kumar S.P
Holdings Report - September 2024 Exor Added To The KBC Securities Hold...
1M Performance - Absolute: During Sept'24 (1M period), the KBCS Holdings Universe posted a return of -0.2% which was mainly driven by multi-asset holdings (-1.2%) while single-asset holdings posted a positive return of 2.0%. The 3 top performers during the period were Sofina (+15.3%), Financière de Tubize (+8.4%), and Brederode (+7.2%) while the 3 worst performers were Exor (-4.4%), Compagnie du Bois Sauvage (-5.5%), and D'Ieteren Group (-7.2%). YTD Performance - Relative: On a YTD basis (as o...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
DIE D'IETEREN SA
SOF SOFINA SA
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
EXO EXOR N.V.
ROCK WHITESTONE GROUP
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update October 2024 – Adding NN Group
We maintain a defensive stance on the market for 2H24. The long anticipated expectations for interest rate cuts by central banks will finally come to pass. The election fever in the US is reaching boiling point and the conversations are becoming more polarised than before. Also corporate profit growth in Europe slows and the French elections have cast a negative spell. In Germany by-elections in the Eastern part showed a shift to extreme right and left that will make budget decisions even more ...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
COFB COFINIMMO SA
DIE D'IETEREN SA
SOF SOFINA SA
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
KIN KINEPOLIS GROUP NV
NN NN GROUP N.V.
TINC TINC COMM. VA
FUR FUGRO NV
SYENS SYENSQO
- Sharad Kumar S.P
TINC 1H FY24: Stable portfolio growth; Dividend up 3.6%
NAV rose by 3% €482.0m or €13.26ps (vs. €468.0m during FY23-end). Portfolio result came in at €21.9m (9.4% annualised) while net result clocked in at €18.0m or €0.5 per share. Shareholder's equity declined slightly to €482.0m compared to €494.6m during FY23-end – this is after deducting the dividend of €30.5m (€0.84ps) paid in May'24. Total cash receipts generated by the portfolio during 1H amounted to €23.1m while TINC committed €50.2m towards 3 new projects. Currently, TINC has a net debt pos...
- Guy Sips
- Michiel Declercq
- Sharad Kumar S.P
- Sharad Kumar S.P
Holdings Report - August 2024 KBCS Holdings Universe Up 0.5% Thanks To...
1M Performance - Absolute: During July'24 (1M period), the KBCS Holdings Universe posted a return of 0.5% which was mainly driven by multi-asset holdings (+1.7%) while single-asset holdings posted a negative return of -1.3%. The 3 top performers during the period were HAL Trust (+5.1%), Texaf (+2.9%), and The Infrastructure Company (TINC, +9.6%) while the 3 worst performers were Brederode (-2.8%), Solvac (-5.3%), and Whitestone Group (-7.2%). YTD Performance - Relative: On a YTD basis (as of A...
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
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update September 2024 –Cofinimmo & Kinepolis in;...
In this September update of our Dynamic Top Pick List we make 4 changes. •We include Cofinimmo in our Dynamic Top Pick List after our recent upgrade from Accumulate to Buy. We expect the name to outperform in a decreasing interest rate environment given its relatively high leverage and cheap valuation. We also believe the risk of a dilutive equity raise eased when the FY24 capex decreased from € 320m to € 250m. The management stays disciplined in its capex program and continues to focus on asse...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
COFB COFINIMMO SA
DIE D'IETEREN SA
SOF SOFINA SA
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
CPINV CARE PROPERTY INVEST SA
KIN KINEPOLIS GROUP NV
TINC TINC COMM. VA
FUR FUGRO NV
SYENS SYENSQO
- Jacob Mekhael
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Sharad Kumar S.P
Holdings Report - July 2024 KBCS Holdings Universe Up 1.2% Thanks To M...
1M Performance - Absolute: During July'24 (1M period), the KBCS Holdings Universe posted a return of 1.2% which was mainly driven by multi-asset holdings (+3.6%) while single-asset holdings posted a negative return of -2.4%. The 3 top performers during the period were Financière de Tubize (+17.0%), Ackermans & van Haaren (+9.8%), and Compagnie du Bois Sauvage (+9.6%) while the 3 worst performers were Texaf (-3.9%), Heineken Holding (-7.5%), and Gimv (-8.4%). YTD Performance - Relative: On a YT...
GBLB GROUPE BRUXELLES LAMBERT SA
HAL HAL TRUST
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
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update August 2024: argenx & Tubize out after de...
In July, our Dynamic Top Pick List selection was up on average 0.9%; outperforming our benchmark indices (Bel20, AEX, EuroStoxx50) by 1.7% on average. Helped by this July performance, the selection is now up by 11.4% since the start of the 2024 selection (published Mid-December 2023). In this August 2024 update of our KBC Securities Dynamic Top Pick List we remove argenx and Tubize after delivering upon expectations. * Over the past two months, argenx has delivered upon our expectations on the...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
DIE D'IETEREN SA
SOF SOFINA SA
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
TUB FINANCIERE DE TUBIZE S.A.
CPINV CARE PROPERTY INVEST SA
TINC TINC COMM. VA
ARGX ARGEN-X SE
FUR FUGRO NV
SYENS SYENSQO
- Sharad Kumar S.P
Holdings Report - June 2024 KBCS Holdings Universe Down -3.6% Due To S...
1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of -3.6% which was mainly driven by single-asset holdings (-4.1%) while multi-asset holdings posted a slightly less negative return of -3.7%. The 3 top performers during the period were Financière de Tubize (+5.9%), Texaf (0.0%), and Quest for Growth (-1.8%) while the 3 worst performers were Compagnie du Bois Sauvage (-7.7%), Gimv (-5.6%), and KBC Ancora (-5.3%). YTD Performance - Relative: On a YTD ...
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
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update July 2024: Fagron & Xior in; Alfen & Shur...
We anticipate a continued cautious stock market over 2H24 as expectations for steep and fast interest rate cuts by central banks have proven premature as inflation remains relatively sticky, especially in the US. Also corporate profit growth in Europe slows and the French elections have cast a negative spell. The strong US consumer also has run out of cheap financing and stimulus. The upcoming elections in the US could divide the biggest economy into extreme stances and political uproar. The li...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
FAGR FAGRON SA
EVS EVS BROADCAST EQUIPMENT SA
XIOR XIOR STUDENT HOUSING N.V.
SOLB SOLVAY SA
DIE D'IETEREN SA
SOF SOFINA SA
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
CPINV CARE PROPERTY INVEST SA
TINC TINC COMM. VA
ARGX ARGEN-X SE
ALFEN ALFEN NV
FUR FUGRO NV
SHUR SHURGARD SELF STORAGE LIMITED
SYENS SYENSQO
- Lynn Hautekeete
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Sharad Kumar S.P
Holdings Report - May 2024 KBCS Holdings Universe Down -0.9% Due To Mu...
1M Performance - Absolute: Over the last 1M period, the KBCS Holdings Universe posted a return of -0.9% which was mainly driven by multi-asset holdings (-1.3%) while single-asset holdings posted a positive return of +0.6%. The 3 top performers during the period were Solvac (+8.0%), Gimv (+5.5%), and Compagnie du Bois Sauvage (+5.3%) while the 3 worst performers were HAL Trust (-6.5%), D'Ieteren Group (-1.8%), and Texaf (-1.1%). YTD Performance - Relative: On a YTD basis, the KBCS Holdings Univ...
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
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Michiel Declercq
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update June 2024: Replacing ‘Gimv' and ‘TKH Grou...
Despite some large dividend payments (CP Invest, Bekaert, EVS, Solvay, TINC, Van de Velde, Ackermans & Van Haaren...) in our Dynamic Top Pick list in May 2024, our selection gained 1.6% on average, underperforming our benchmark indices (Bel20, AEX, EuroStoxx50) by -0.8% on average. Since the start of the 2024 selection (published on 14 December 2023), the Dynamic Top Pick list is up 15.2%, outperforming these indices by 3.7% on average. In this June 2024 update of our Dynamic Top Pick List, we ...
BEKB BEKAERT SA
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
SOLB SOLVAY SA
SOF SOFINA SA
GIMB GIMV NV
VAN VAN DE VELDE S.A.
IBAB ION BEAM APPLICATIONS SA
ACKB ACKERMANS & VAN HAAREN NV
TUB FINANCIERE DE TUBIZE S.A.
CPINV CARE PROPERTY INVEST SA
TWEKA TKH GROUP N.V. CERT
TINC TINC COMM. VA
ARGX ARGEN-X SE
ALFEN ALFEN NV
FUR FUGRO NV
SHUR SHURGARD SELF STORAGE LIMITED
SYENS SYENSQO
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