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Wim Hoste
  • Wim Hoste

Tessenderlo FY adjusted EBITDA guidance lowered to -15-20%

Tessenderlo lowered FY adjusted EBITDA guidance from a 5-10% drop to a 15-20% decline, mainly due to weaker than expected performance in Bio-valorization and Agro segments. The new guidance range is at midpoint about 12% below our forecast and 11% below consensus. We will adjust our model accordingly. Whilst business conditions in many of the group's end markets are challenging, Tessenderlo is still generating sizeable FCF (we remind FCF was close to €100m in 1H). The company is using its solid ...

Hilde Van Boxstael ... (+3)
  • Hilde Van Boxstael
  • Wim Hoste
  • Wim Lewi
 PRESS RELEASE

AB InBev Becomes Official Beer Partner of FIFA Club World Cup 2025™​

NEW YORK--(BUSINESS WIRE)-- AB InBev (Euronext: ABI) (MEXBOL: ANB) (JSE: ANH) (NYSE: BUD), the world’s leading brewer, has extended its nearly 40-year partnership with FIFA to include the FIFA Club World Cup 2025™ taking place in the United States from June 15th to July 13th. AB InBev is also a sponsor of FIFA World Cup 2026™, which will be jointly hosted by 16 cities across Canada, Mexico and the United States. This press release features multimedia. View the full release here: AB InBev: Official Beer Partner of FIFA Club World Cup (Graphic: Business Wire) The expanded partnership reinforces...

 PRESS RELEASE

Corona Cero’s Relaxation Clause Brings a Fresh Perspective to Athlete ...

LONDON--(BUSINESS WIRE)-- Corona, the world’s most valuable beer brand, has introduced the ‘Relaxation Clause’, a new global initiative for all sponsorship agreements that ensures athletes dedicate time to relax and unwind as part of their contract with Corona Cero. This press release features multimedia. View the full release here: Brazilian surfer Gabriel Medina signs the Relaxation Clause (Photo: Business Wire) The Relaxation Clause offers a new approach to partnerships that reflects the essence of Corona: encouraging people to experience more moments to unwind and connect with nature. T...

Hilde Van Boxstael ... (+8)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Lynn Hautekeete
  • Sharad Kumar S.P
  • Thibault Leneeuw
  • Thomas Couvreur
  • Wim Hoste

Morning Notes : AALB NA, ADYEN NA, CPINV BB, CMBT BB, GBLB BB, MDXH BB...

: AALB NA, ADYEN NA, CPINV BB, CMBT BB, GBLB BB, MDXH BB, TESB BB, ALFEN NA

Wim Hoste
  • Wim Hoste

AB InBev [ 3Q mixed bag, upgrading guidance was fully anticipated – mo...

ABI's share price dropped upon the 3Q results release on a combination of weak volumes, bigger than expected negative FX effects weighing on the absolute EBITDA number and a fresh share buyback announcement of which the repurchased shares will not be cancelled. We lowered our normalized EBITDA forecasts for FY24-26 by c. 3-4% but continue to appreciate ABI for its leadership positions in the global beer market, high intrinsic profitability and LT growth prospects in its emerging markets business...

Guy Sips ... (+8)
  • Guy Sips
  • Jacob Mekhael
  • Kristof Samoy
  • Lynn Hautekeete
  • Michiel Declercq
  • Thibault Leneeuw
  • Wim Hoste
  • Wim Lewi

Morning Notes : ABI BB, AD NA, ATEB BB, FUR NA, IBAB BB, JEN BB, SOLB ...

: ABI BB, AD NA, ATEB BB, FUR NA, IBAB BB, JEN BB, SOLB BB, AZE BB, MAAT FP, CTPNV NA, DEME BB

Robert Jan Vos
  • Robert Jan Vos

Anheuser-Busch InBev : Too severely punished for softness in just 20% ...

>Q3 2024 miss predominantly due to Mexico and China - ABI’s organic volume, revenue and EBITDA growth all missed estimates materially in Q3 2024. Zooming in on the regions, we conclude that the miss was predominantly due to key markets Mexico (c. 13% of group revenue), and China (c. 8% of group revenue). That said, other key markets outperformed expectations (i.e., the US with c. 22% of group revenue), or kept their positive momentum (i.e., Brazil with c. 16% of group...

Robert Jan Vos
  • Robert Jan Vos

Anheuser-Busch InBev : $ 2bn share buyback not seen to offset disappoi...

>Underperforming expectations on most key items and in most markets in Q3 - Anheuser-Busch InBev (ABI) reported sales of $ 15,046m, EBITDA of $ 5,424m and underlying net profit of $ 1,971m. Our estimates were $ 15,955 (consensus: $ 15,580m), $ 5,912m (consensus: $ 5,712m) and $ 2,103m (consensus: $ 1,848m), respectively. Organic revenue growth came in at 2.1% (ABN: 5.0%, consensus: 3.4%), behind a volume decline of 2.4% (ABN: 0.9%, consensus: -0.4%). Organic EBITDA gr...

ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Aalberts: 3Q24 preview - no signs of recovery expected. AB InBev: All to play for in the final quarter. Arcadis: A mixed bag. Ayvens: Struggling to get out of neutral. dsm-firmenich: Taking your vitamins is healthy. D'Ieteren: Belron equity at €23.5bn, EV €32.2bn in minority shareholder transaction. Euronext: 3Q24 and CMD Preview. Flow Traders: Bumper harvest. Heijmans: 3Q24 as expected, keeps FY outlook in place. Proximus: Key politician pushing for major governance shake up. ...

Wim Hoste
  • Wim Hoste

AB InBev FIRST LOOK: 3Q EBITDA +7.1%, FY guidance range narrowed up

On the back of a softer than expected 3Q volume performance but a better than expected revenue/hl growth, organic EBITDA growth reached +7.1%, which was roughly in line with our forecast and slightly below consensus (+8.6%), with however actual figures lower than expected on FX impact. ABI narrowed its FY24 EBITDA growth guidance range from 4-8% to 6-8% (KBCS +7.7%, CSS +8.6%). We still appreciate ABI for its leadership positions in the global beer market, high intrinsic profitability and LT gro...

Hilde Van Boxstael ... (+6)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Kristof Samoy
  • Michiel Declercq
  • Thomas Couvreur
  • Wim Hoste

Morning Notes : ABI BB, ARCAD NA, ARGX BB, DIE BB, DSFIR NA, FLOW NA, ...

: ABI BB, ARCAD NA, ARGX BB, DIE BB, DSFIR NA, FLOW NA, GLPG NA, INGA NA, RECT BB

 PRESS RELEASE

AB InBev publie les résultats du troisième trimestre 2024

BRUXELLES--(BUSINESS WIRE)-- Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD): Ce communiqué de presse contient des éléments multimédias. Voir le communiqué complet ici : AB InBev Strategic Priorities (Graphic: Business Wire) Information réglementée et privilégiée1 « La bière suscite une véritable passion chez les consommateurs. La demande des consommateurs pour nos méga-marques et la mise en place de nos méga-plateformes ont permis la délivrance d’un nouveau trimestre de croissance des produits et des bénéfices, avec une expansion des marges. Nos équipes et partenaires conti...

 PRESS RELEASE

AB InBev Reports Third Quarter 2024 Results

BRUSSELS--(BUSINESS WIRE)-- Anheuser-Busch InBev (Brussel:ABI) (BMV:ANB) (JSE:ANH) (NYSE:BUD): This press release features multimedia. View the full release here: AB InBev Strategic Priorities (Graphic: Business Wire) Regulated and inside information1 “Beer is a passion point for consumers. Consumer demand for our megabrands and the execution of our mega platforms delivered another quarter of top- and bottom-line growth with margin expansion. Our teams and partners continue to execute our strategy and we are confident in our ability to deliver on our raised FY24 EBITDA growth outlook of 6-8%....

Anheuser-Busch InBev SA/NV: Key facts and statistics - LTM June 2024

A summary company profile, detailing Anheuser-Busch InBev SA/NV’s business operations and financial highlights.

Bruno Cavalier ... (+3)
  • Bruno Cavalier
  • Robert Jan Vos
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/10/2024

Représentant 19% en moyenne du CA des groupes de biens d’équipement européens (plus de 40% pour certains), les Etats-Unis sont inévitablement au cœur des stratégies de croissance, tant organique qu’externe. Après analyse des programmes des deux candidats à la Maison Blanche, croisée avec celle du positionnement des groupes, nous avons établi 2 scénarios permettant de se positionner en fonction du candidat qui sera élu en novembre. Dans ce contexte électoral américain encore incertain,...

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