reports
- ING Helpdesk
- Michiel Declercq
- Thomas Couvreur
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Wim Lewi
Montea Rights Issue 150m for French Acquisition, Track27 increased
Montea announced a EUR 154m rights issue (1 for 9) to finance the acquisition of 17 properties (Reverso portfolio) in France. The deal is announced at a yield of 5.6%, but the development potential is expected to lift the yield over time to 7.0%. The rights issue price is set at 67.0, a discount to TERP of 9.3%. On the CMD in June, Montea already earmarked the French market as a prime target for growth. Rumours about Montea bidding for a logistic portfolio from Tristan Partners soon surfaced (Ti...
- Thomas Vranken
argenx FIRST LOOK: Amgen's Phase 3 MG data
Competitor Amgen announced topline results from its Phase 3 MINT study with Uplizna in generalised myasthenia gravis. We note the suggested semi-annual dosing frequency and solid clinical improvements, but still consider Vyvgart to be the top contender in an increasingly crowded space. We reiterate our € 530 TP and Accumulate rating for argenx.
- Michiel Declercq
KPN A Strong Foundation for Future Growth
Today we initiate coverage on KPN with a Buy rating and € 4.2 TP. In this note we take a closer look at the underlying market dynamics and competitive environment. While the Dutch market is subject to some price and promotional pressure in broadband, the overall market remains rational. We expect this to continue, as the highly leveraged balance sheets of competitors leave little room for aggressive pricing. Secondly, we believe that KPN has a structural advantage in the long term, as it is the ...
Solvay opens consultation to cease production at Salindres site
Solvay opens consultation to cease production at Salindres site Brussels, September 24, 2024, 18:00 CEST - regulated information Solvay today announces a project to consult with its social partners to cease the production of TFA and its fluorinated derivatives at its Salindres site in France. The envisaged discontinuation of these activities would result in the elimination of 68 positions assigned to the TFA and derivatives production between early 2025 and October 2025. The plan to cease production is due to the continued negative financial performance of...
Solvay entame des consultations visant l'arrêt de la production sur le...
Solvay entame des consultations visant l'arrêt de la production sur le site de Salindres Bruxelles, le 24 septembre 2024 - 18h00 CEST - Information réglementée Solvay annonce aujourd'hui un projet de consultation avec les partenaires sociaux, visant l'arrêt de la production de TFA et de ses dérivés fluorés sur son site de Salindres en France. La cessation envisagée de ces activités entraînerait la suppression de 68 postes dans la production de TFA et de produits dérivés entre le début de 2025 et octobre 2025. Le projet de mettre fin à la production est dû aux performances fina...
Solvay start overleg om productie in Salindres stop te zetten
Solvay start overleg om productie in Salindres stop te zetten Brussel, 24 september 2024 - 18u00 CEST - Gereglementeerde informatie Solvay kondigt vandaag een project aan voor overleg met de sociale partners om de productie van TFA en fluorderivaten op zijn site in Salindres (Frankrijk) stop te zetten. De geplande stopzetting van deze activiteiten zou resulteren in het schrappen van 68 posities in de TFA- en derivatenproductie, tussen begin 2025 en oktober 2025. Het plan om de productie stop te zetten is te wijten aan de aanhoudende negatieve financië...
Solvay: acquisition of own shares
Solvay: acquisition of own shares Brussels, September 23, 2024, 6:00pm CEST - Regulated information In accordance with article 8:4 of the Royal Decree of 29 April 2019 executing the Belgian Code of Companies and Associations, Solvay SA hereby discloses certain information in relation to its Share Buyback Program, announced on August 1, 2024. Solvay has repurchased 24,455 Solvay shares in the period from September 16, 2024 up to and including September 20, 2024, as follows: Date of repurchaseNumber of sharesAverage price paidMax price paidMin price paidTotalMarket16-09-20241231.130031.13...
Solvay: acquisition d’actions propres
Solvay: acquisition d’actions propres Bruxelles, le 23 septembre 2024 - 18h00 CEST - information réglementée Conformément à l'article 8:4 de l'arrêté royal du 29 avril 2019 exécutant le Code belge des sociétés et des associations, Solvay SA publie certaines informations relatives à son programme de rachat d'actions, annoncé le 1er août 2024. Solvay a racheté 24 455 actions Solvay au cours de la période allant du 16 septembre 2024 au 20 septembre 2024 inclus, comme suit : Date d’achat Nombre d’actions Prix moyen payé Prix max payé Prix min payé Total Marché 16-09-2024 ...
Solvay: verwerving van eigen aandelen
Solvay: verwerving van eigen aandelen Brussel, 23 september 2024 - 18u00 CEST - gereglementeerde informatie In overeenstemming met artikel 8:4 van het Koninklijk Besluit van 29 april 2019 tot uitvoering van het Belgisch Wetboek van Vennootschappen en Verenigingen, maakt Solvay NV hierbij bepaalde informatie bekend in verband met haar programma voor de inkoop van eigen aandelen, aangekondigd op 1 augustus 2024. Solvay heeft 24 455 Solvay-aandelen teruggekocht in de periode van 169 september 2024 tot en met 20 september 2024, als volgt: Datum van aankoop Aantal aandelen ...
argenx Announces Publication in The Lancet Neurology of Pivotal ADHERE...
argenx Announces Publication in The Lancet Neurology of Pivotal ADHERE Study Data in Chronic Inflammatory Demyelinating Polyneuropathy ADHERE was largest and most innovative clinical trial of CIDP patients to date VYVGART® Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) demonstrated reduction in disease progression, reduced risk of relapse and rapid onset of action VYVGART Hytrulo is first and only neonatal Fc receptor (FcRn) blocker FDA-approved to treat CIDP September 19, 2024 – 7:00 am CET Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), a global immunology co...
Solvay: acquisition of own shares
Solvay: acquisition of own shares Brussels, September 16, 2024, 6:00pm CEST - Regulated information In accordance with article 8:4 of the Royal Decree of 29 April 2019 executing the Belgian Code of Companies and Associations, Solvay SA hereby discloses certain information in relation to its Share Buyback Program, announced on August 1, 2024. Solvay has repurchased 128,035 Solvay shares in the period from September 9, 2024 up to and including September 13, 2024, as follows: Date of repurchase Number of shares Average price paid Max price paid Min price paid Total Market ...
Solvay: acquisition d’actions propres
Solvay: acquisition d’actions propres Bruxelles, le 16 septembre 2024 - 18h00 CEST - Information réglementée Conformément à l'article 8:4 de l'arrêté royal du 29 avril 2019 exécutant le Code belge des sociétés et des associations, Solvay SA publie certaines informations relatives à son programme de rachat d'actions, annoncé le 1er août 2024. Solvay a racheté 128 035 actions Solvay au cours de la période allant du 9 septembre 2024 au 13 septembre 2024 inclus, comme suit : Date d’achatNombre d’actionsPrix moyen payéPrix max payéPrix min payéTotalMarché09-09-202455631,446331,6231,3117.484,...
Solvay: verwerving van eigen aandelen
Solvay: verwerving van eigen aandelen Brussel, 16 september 2024 - 18u00 CEST - Gereglementeerde informatie In overeenstemming met artikel 8:4 van het Koninklijk Besluit van 29 april 2019 tot uitvoering van het Belgisch Wetboek van Vennootschappen en Verenigingen, maakt Solvay NV hierbij bepaalde informatie bekend in verband met haar programma voor de inkoop van eigen aandelen, aangekondigd op 1 augustus 2024. Solvay heeft 128 035 Solvay-aandelen teruggekocht in de periode van 9 september 2024 tot en met 13 september 2024, als volgt: Datum van aankoopAantal aandelenGemiddelde prijs per ...
- Martin Marandon-Carlhian
- Stephane Houri
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/12/2024
We have upgraded our target price from € 43.4 to € 45.3 which factors in the growth strategy out to 2027 (EBITDA +5% to 6% p.a.) whereas the share price implies decrease of 0.65% p.a. The strategic GreenUp plan is based on three booster businesses that should see a gradual acceleration and will involve asset rotation. An accretive re-profiling in terms of EPS, and with no repercussions for the leverage limit, could also show through with minority buyouts for the regulated water operat...
O2D TELEFONICA DEUTSCHLAND HOLDING AG
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
CBK COMMERZBANK AG
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
ZAL ZALANDO SE
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
- Stephane Beyazian
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
ASY ASSYSTEM SA
HCO HIGHCO SA
SWP SWORD GROUP SE
GAMA GAMMA COMMUNICATIONS
JCQ JACQUET METALS SA
ALLAN LANSON-BCC
DTE DEUTSCHE TELEKOM AG
ELIS ELIS SA
AIXA AIXTRON SE
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
TFF TFF GROUP
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
ECMPA EUROCOMMERCIAL PROPERTIES NV
- Stephane Beyazian
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
ASY ASSYSTEM SA
HCO HIGHCO SA
SWP SWORD GROUP SE
GAMA GAMMA COMMUNICATIONS
JCQ JACQUET METALS SA
ALLAN LANSON-BCC
DTE DEUTSCHE TELEKOM AG
ELIS ELIS SA
AIXA AIXTRON SE
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
TFF TFF GROUP
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
RBO ROCHE BOBOIS INTERNATIONAL SAS
ECMPA EUROCOMMERCIAL PROPERTIES NV
- Martin Marandon-Carlhian
- Stephane Houri
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/09/2024
Nous relevons notre objectif de cours de 43.4 € à 45.3 € qui intègre la stratégie de croissance à 2027 (EBITDA +5% à 6%/an) alors que le cours de Bourse sous-tend une baisse de 0.65%/an. Le plan stratégique GreenUp repose sur trois métiers Boosters qui doivent connaitre une accélération graduelle et impliquer des rotations d’actifs. Un reprofilage relutif en termes de BPA, et sans conséquence sur la limite de levier, pourrait aussi intervenir par le biais de rachats de minoritaires de...
O2D TELEFONICA DEUTSCHLAND HOLDING AG
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
CBK COMMERZBANK AG
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
ZAL ZALANDO SE
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
- Konrad Zomer
- Stephane Beyazian
ODDO : Are Starlink and AST SpaceMobile a threat to telecoms operators...
>T-Mobile & Starlink launch smartphone satellite connectivity - Yesterday, T-Mobile announced the first emergency services message to be sent by a Starlink satellite to a T-Mobile-subscribed smartphone. Shortly, calls, messages and even low-speed internet connectivity should be possible. Starlink has reserved ~175 satellites (out of ~7,000) for this service that T-Mobile should offer free-of-charge to its clients outside 5G coverage. While Satellite telephony is not n...
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
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