reports
Atos SE: 1 director
A director at Atos SE bought 1,101 shares at 45.000EUR and the significance rating of the trade was 55/100. 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 showin...
- Marc Hesselink
- CFA
- Thymen Rundberg
Fastned/Ongoing bond raises, a lot more is needed/HOLD
Fastned's 3Q25 trading update showed charging volume growth picked up slightly vs prior quarters but remains below BEV penetration growth. We modestly raise volume estimates yet expect growth to slow and stay under BEV penetration levels and stay uncomfortable on the significant funding gap. We maintain our HOLD rating and lift our target price to €20.50 per share (from €20).
- Thijs Berkelder
SSAB A SSAB AB CLASS A
POM PLASTIC OMNIUM SE
MBB MBB INDUSTRIES SE
ANA ACCIONA SA
RIEN RIETER HOLDING AG
TWEKA TKH GROUP N.V. CERT
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
WLN WORLDLINE SA
FTG111 FLATEXDEGIRO AG
TMV TEAMVIEWER AG
DSC1 DUTCH STAR C SHAR
FAST FASTNED
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
CABKA CABKA N.V.
- Thijs Berkelder
SSAB A SSAB AB CLASS A
POM PLASTIC OMNIUM SE
ITP INTERPARFUMS
MBB MBB INDUSTRIES SE
ANA ACCIONA SA
RIEN RIETER HOLDING AG
TWEKA TKH GROUP N.V. CERT
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
WLN WORLDLINE SA
FTG111 FLATEXDEGIRO AG
TMV TEAMVIEWER AG
DSC1 DUTCH STAR C SHAR
FAST FASTNED
ANE CORPORACION ACCIONA ENERGIAS RENOVABLES SA
CABKA CABKA N.V.
- Thijs Berkelder
Fastned : Time to recalibrate to weaker BEV outlook
Fastned is one of Europe’s leading fast-charging network operators in Europe with 380 stations in operation. Albeit aiming to accelerate its station expansion pace from 50 to 100-150 pa, it has not yet delivered on the desired construction pace, this while capex and operating expenses are exceeding earlier expectations, and its operational stations are also not keeping up with the market growth (session per station up 10% vs. BEV fleet +22%). Today, we further lower our expectations and downgrad...
Transformation Gaining Momentum in Q3 2025 with Estimated Net Change ...
Transformation Gaining Momentum in Q3 2025 with Estimated Net Change in Cash Limited to €-38m FY25 Profitability and Cash Targets Confirmed as the Genesis Plan Progresses Steadily Press Release Transformation Gaining Momentum in Q3 2025 with Estimated Net Change in Cash Limited to €-38m FY25 Profitability and Cash Targets Confirmed as the Genesis Plan Progresses Steadily Q3 2025 estimated net change in cash1 limited to c. €-38 million Delivered without any usage of account receivable factoring or specific optimization on trade payablesIncluding restructuring impact in Q3 2025 (est. at...
La transformation s’accélère au troisième trimestre 2025 avec une vari...
La transformation s’accélère au troisième trimestre 2025 avec une variation nette de trésorerie estimée à seulement -38 millions d’euros Les objectifs de rentabilité et de génération de trésorerie sont confirmés pour l’exercice 2025 Communiqué de presse La transformation s’accélère au troisième trimestre 2025 avec une variation nette de trésorerie estimée à seulement -38 millions d’euros Les objectifs de rentabilité et de génération de trésorerie sont confirmés pour l’exercice 2025 tandis que l’exécution du plan Genesis se poursuit à un rythme soutenu Variation nette de trésorerie1 ...
- Ahmed Ben Salem
- Baptiste Lebacq
TEMN TEMENOS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
OSE OSE IMMUNOTHERAPEUTICS SA
HCO HIGHCO SA
GLO GL EVENTS SA
ENI ENI S.P.A.
BAMNB KONINKLIJKE BAM GROEP NV
REP REPSOL SA
SIX2 SIXT SE
SLIGR SLIGRO FOOD GROUP N.V.
FDR FLUIDRA S.A.
MAU ETABLISSEMENTS MAUREL & PROM SA
FTG111 FLATEXDEGIRO AG
BP. BP P.L.C.
PWG PRODWAYS GROUP SA
THEP THERMADOR HOLDING SA
FAST FASTNED
ALHRS HYDROGEN REFUELING SOLUTIONS
SHEL SHELL PLC
CAN CANAL+
- Ahmed Ben Salem
- Baptiste Lebacq
TEMN TEMENOS AG
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ALFOC FOCUS HOME INTERACTIVE SA
OSE OSE IMMUNOTHERAPEUTICS SA
HCO HIGHCO SA
GLO GL EVENTS SA
ENI ENI S.P.A.
BAMNB KONINKLIJKE BAM GROEP NV
REP REPSOL SA
SIX2 SIXT SE
SLIGR SLIGRO FOOD GROUP N.V.
FDR FLUIDRA S.A.
MAU ETABLISSEMENTS MAUREL & PROM SA
FTG111 FLATEXDEGIRO AG
BP. BP P.L.C.
PWG PRODWAYS GROUP SA
THEP THERMADOR HOLDING SA
FAST FASTNED
ALHRS HYDROGEN REFUELING SOLUTIONS
SHEL SHELL PLC
CAN CANAL+
- ING Helpdesk
Benelux Morning Notes
DEME Group: First Havfram vessel ready. Fastned: 3Q25 trading update – new stations boost growth, organic lags BEV penetration. NN Group & ASR: Pension reform on track for 1st tranche move from DB to DC in Jan 26. Sligro: Another weak trading update, but FY25 guidance reiterated. Talabat: Surprise CEO departure
- Guy Sips
- Hilde Van Boxstael
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Lewi
- ING Helpdesk
- Hilde Van Boxstael
- Livio Luyten
- Wim Lewi
- Marc Hesselink
- CFA
- Thymen Rundberg
Fastned/Discharged momentum/HOLD
In our view Fastned reported disappointing 1H25 results. We mainly make downward adjustments to our charging volume estimates for the coming years. We increase our pricing estimates beyond 2025, partially offsetting lower volumes. We slightly increase our long-term (post 2030) estimates, resulting in our DCF-driven target price of €20 (unchanged), and we reiterate our HOLD rating.
- Olfa Taamallah
- Yan Derocles
LXS LANXESS AG
GLB GLANBIA PLC
FTON FEINTOOL INTERNATIONAL HOLDING AG
ADN1 ADESSO AG
SQN SWISSQUOTE GROUP HOLDING AG
SAX STROEER SE & CO. KGAA
PYT POLYTEC HOLDING
POST OSTERREICHISCHE POST AG
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
DIGI DIGI COMMUNICATIONS NV
HFG HELLOFRESH SE
FAST FASTNED
AERO MONTANA AEROSPACE AG
SHUR SHURGARD SELF STORAGE LIMITED
NCH2 THYSSENKRUPP NUCERA AG & CO.
- Olfa Taamallah
- Yan Derocles
LXS LANXESS AG
GLB GLANBIA PLC
FTON FEINTOOL INTERNATIONAL HOLDING AG
ADN1 ADESSO AG
SAX STROEER SE & CO. KGAA
PYT POLYTEC HOLDING
POST OSTERREICHISCHE POST AG
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
DIGI DIGI COMMUNICATIONS NV
HFG HELLOFRESH SE
FAST FASTNED
AERO MONTANA AEROSPACE AG
SHUR SHURGARD SELF STORAGE LIMITED
NCH2 THYSSENKRUPP NUCERA AG & CO.
- Thijs Berkelder
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Fastned: H1 results, GM recovery, roll-out acceleration expected in H2
This morning, Fastned published its H1 2025 key metrics and number of operating stations. H1 sales came in at EUR54.3m (+44% YoY), implying revenue of EUR26.3m in Q2 2025 (-9% vs cons. at EUR28.9m) and pointing to an annual run-rate of at least EUR108m (vs cons. at EUR130.8m for FY25 and STFe EUR13
- ING Helpdesk
Benelux Morning Notes
Ascencio: Stable update CFE: Preview; margin over volume CVC Capital Partners: Moments of Realisation D'Ieteren: Belron North American peer Boyd points to positive 3Q25 inflection point in like for like growth Fastned: 1H25 results; disappointing charging volumes, cost pressure continues Greenyard: Results of second acceptance period concerning takeover bid and launching squeeze-out
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