reports
- Wim Hoste
Bekaert Feedback conference call
Below is the feedback from the 3Q conference call. Bekaert lowered its FY guidance to an uEBIT range of 340-350m, which at midpoint is c. 9% below our forecast (378m) and 8% below consensus (373m), reflecting weaker end markets. Importantly and taking into account the solid balance sheet (net debt/EBITDA below 1x) and limited recent M&A activity, Bekaert announced to immediately resume share buybacks and launched a € 200m (>10% of current market cap) SBB program, to be executed over the next 24 ...
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- ING Helpdesk
Benelux Morning Notes
Aalberts: highlights ING Benelux Conference Brussels 2024, Ackermans & Van Haaren: Highlights ING Benelux Conference Brussels,Ackermans & Van Haaren: Strong operational performance of underlying companies and guidance fine-tuned upwards, AMG: Highlights ING Benelux Conference Brussels, Aperam: Highlights ING Benelux Conference Brussels, Arcadis: Highlights ING Benelux conference, Azelis: Highlights ING Benelux Conference Brussels, Bekaert: Guidance cut and €200m buyback as sweetener, CFE: No new...
BEKB BEKAERT SA
APAML APERAM SA
EVS EVS BROADCAST EQUIPMENT SA
DIE D'IETEREN SA
CFEB COMPAGNIE D'ENTREPRISES CFE SA
ACKB ACKERMANS & VAN HAAREN NV
ARCAD ARCADIS NV
MONT MONTEA SCA
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
KIN KINEPOLIS GROUP NV
INX IMCD N.V.
JDEP JDE PEET'S NV
UMG UNIVERSAL MUSIC GROUP NV
AZE AZELIS GROUP NV
- Emmanuel Matot
- Marc Lavaud
- Michael Foundoukidis
- Martijn Den Drijver
Bekaert : Lowered 2024 sales and EBIT guidance but new SBB started
>Weaker than expected sales and volumes in Q3 (miss of 3%) - Bekaert’s Q3 sales missed css by 3%, driven by RR (miss of 3%), SWS (a miss of 6%) and Specialty (a miss of 5%) with only BBRG beating (a beat of 3%). Volumes in Q3 were down 5.2% vs -2.7% in Q2 and -4.9% in Q1 so a clear deterioration driven primarily by RR (-4.4% in Q3 vs -2.3% in Q2) and SWS (-7.7% vs -3.4% in Q2). Europe and China were weak (RR particularly in trucks) while there have been delays in proj...
- Wim Hoste
Bekaert FIRST LOOK: Weak 3Q sales, lower FY guidance but resuming SBB
Bekaert lowered its FY guidance to an uEBIT range of 340-350m, which at midpoint is c. 9% below our forecast (378m) and 8% below consensus (373m), reflecting weaker end markets. Importantly and taking into account the solid balance sheet (net debt/EBITDA below 1x) and limited recent M&A activity, Bekaert announced to immediately resume share buybacks and launched a € 200m (>10% of current market cap) SBB program, to be executed over the next 24 months. Despite the reduced FY guidance which will ...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Michiel Declercq
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Olfa Taamallah
- Yan Derocles
RENK : Visibility + self-help + geographic diversification = a winning...
>Strong visibility and desensitisation to short-term political hazards in Germany - At a road show in Paris, management indicated that it anticipates FY 2025 revenue growth in line with the medium-term CAGR of c.15% (ODDO BHF: 19.8% in FY 2024 and 14.6% in FY 2026, Visible Alpha consensus: 18.6% and 16.1%) notably buoyed by VMS. Renk feels relatively immune to the vagaries of German politics since the big orders (Leopard, Puma, F126 frigates, Howitzer, etc.) have alre...
Bekaert - Update on the Liquidity Agreement
Bekaert - Update on the Liquidity Agreement Update on the Liquidity Agreement Period from 14 November 2024 to 20 November 2024 Liquidity agreement In relation to the renewed liquidity agreement with Kepler Cheuvreux announced on , Bekaert announces today that Kepler Cheuvreux on behalf of Bekaert has bought 7 533 shares during the period from 14 November 2024 to 20 November 2024 on Euronext Brussels. During the same period, Kepler Cheuvreux on behalf of Bekaert has sold 8 100 shares on Euronext Brussels. The tables below provide an overview of the transactions under the liquidity agreem...
Bekaert - Mise à jour relative au Contrat de liquidité
Bekaert - Mise à jour relative au Contrat de liquidité Mise à jour relative au Contrat de liquidité Période allant du 14 novembre 2024 au 20 novembre 2024 Contrat de liquiditéDans le cadre du contrat de liquidité reconduit avec Kepler Cheuvreux annoncé le , Bekaert annonce aujourd'hui que Kepler Cheuvreux a acheté 7 533 actions pour le compte de Bekaert durant la période comprise entre le 14 novembre 2024 et le 20 novembre 2024 sur Euronext Bruxelles. Au cours de la même période, Kepler Cheuvreux a vendu 8 100 actions pour le compte de Bekaert sur Euronext Bruxelles. Les tableaux ci-dess...
- Olfa Taamallah
- Yan Derocles
RENK : Visibilité + self-help + diversification géographique = cocktai...
>Forte visibilité et désensibilisation aux aléas court terme de la politique allemande - Lors d’un road show organisé à Paris, le management a indiqué tabler sur une croissance du CA FY 25 en ligne avec l’objectif moyen-terme de TMVA de c.15% (ODDO BHF : 19.8% en FY 24 et 14.6% en FY 26, VA css : 18.6% et 16.1%) portée notamment par VMS. Renk se sent relativement immunisé face aux aléas politiques allemands puisque les commandes majeures (Leopard, Puma, frégates F126,...
Bekaert - Update on the Share Buyback Program
Bekaert - Update on the Share Buyback Program Bekaert starts Share Buyback Program Following the release of Bekaert’s trading update for the nine months to September 2024, and the announcement that its Board has approved a new share buyback program for a total amount of up to € 200 million over a period of up to 24 months (the “Program”), Bekaert today announces the start of a tranche of the Program to purchase an aggregate amount of up to € 25 million (the “Tranche”). This Tranche will end on or before 21 February 2025. As announced previously, the purpose of the Program is to cancel all...
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen
Bekaert - Update over het Inkoopprogramma van Eigen Aandelen Bekaert start Inkoopprogramma van Eigen Aandelen Na de publicatie van Bekaerts activiteitenverslag voor de eerste negen maanden tot september 2024 en de aankondiging dat de Raad van Bestuur een nieuw Inkoopprogramma van Eigen Aandelen heeft goedgekeurd voor een totaalbedrag tot € 200 miljoen over een periode van maximaal 24 maanden (het "Programma"), kondigt Bekaert vandaag de start aan van een tranche van het programma om een totaalbedrag tot € 25 miljoen aan te kopen (de "Tranche"). Deze tranche eindigt op of vóór 21 februari ...
Bekaert - Mise à jour relative au Programme de Rachat d’Actions
Bekaert - Mise à jour relative au Programme de Rachat d’Actions Bekaert lance un Programme de Rachat d'Actions Suite à la publication de son rapport d’activités sur les neuf premiers mois jusqu’à septembre 2024 et à l'annonce de l’approbation par son Conseil d’un nouveau programme de rachat d'actions pour un montant total maximal de € 200 millions sur une période allant jusqu'à 24 mois (le ‘Programme’), Bekaert annonce aujourd'hui qu’elle débutera une tranche du Programme pour un montant total allant jusqu'à € 25 millions (la ‘Tranche’). Cette Tranche s’achèvera au plus tard le 21 février ...
Bekaert: Rapport d’activités sur les neuf mois jusqu’à septembre 2024
Bekaert: Rapport d’activités sur les neuf mois jusqu’à septembre 2024 Rapport d’activités sur les neuf mois jusqu’à septembre 2024 Prise de mesures pour faire face à une conjoncture plus faible sur les marchés finaux ; relance du programme de rachat d'actions Bekaert a réalisé un chiffre d'affaires de € 3 016 millions au cours des neuf premiers mois de 2024 (-10% par rapport à la même période en 2023). Le chiffre d'affaires a été impacté par la baisse des volumes (-4%) et le retournement de l'inflation des coûts des matières premières et des surcharges énergétiques au cours des périodes p...
Bekaert: Trading update for the nine months to September 2024
Bekaert: Trading update for the nine months to September 2024 Trading update for the nine months to September 2024 Taking actions to address weaker end market conditions; share buyback restarted Bekaert has delivered a sales performance of € 3 016 million in the first nine months of 2024 (-10% against the same period in 2023). Sales were impacted by lower volumes (-4%) and the reversal of raw material cost inflation and energy surcharges in previous periods (-5%). Bekaert remains very focused on extracting further cost efficiencies, maintaining margins and generating cash while managing...
- Joan Sehim
OPmobility : OPM stands out in an ailing industry
In a troubled automotive industry, OPmobility (OPM) stands out for its strong outperformance, market share gains and a speech that is more reassuring than its peers. As evidenced by the recent Q3 results, OPM is currently benefiting from record orders, particularly in the USA, and still has several medium-term growth drivers (Tesla, lighting, hydrogen). Although profitability is limited, and a number of structural weaknesses remain (including low exposure in China), OPM nonethele...
- Joan Sehim
OPmobility : OPM se distingue dans une industrie en difficulté
Dans une industrie automobile en difficulté, OPmobility (OPM) se distingue par une surperformance élevée, des gains de part de marché et un discours qui se veut plus rassurant que ses pairs. Comme l’atteste le récent T3, OPM profite aujourd’hui des commandes records passées, particulièrement aux USA, et dispose toujours de plusieurs leviers de croissance à moyen—terme (Tesla, éclairage, hydrogène). La profitabilité est certes limitée, et quelques faiblesses structurelles perduren...
Sidetrade financial calendar 2025
Sidetrade financial calendar 2025 , the global leader in AI-powered Order-to-Cash applications, today announces its 2025 financial calendar. Annual Revenue for 2024Tuesday 21 January 2025 after stock market closes Annual Results for 2024Wednesday 26 March 2025 after stock market closes First Quarter Revenue for 2025Tuesday 15 April 2025 after stock market closes Annual Shareholder general meeting 2025Wednesday 18 June 2025 from 11:00am (CEST) First Half Year Revenue for 2025Wednesday 16 July 2025 after stock market closes First Half Year Results for 2025Wednesday 17 September 2025...
Bekaert - Update on the Liquidity Agreement
Bekaert - Update on the Liquidity Agreement Update on the Liquidity Agreement Period from 7 November 2024 to 13 November 2024 Liquidity agreement In relation to the renewed liquidity agreement with Kepler Cheuvreux announced on , Bekaert announces today that Kepler Cheuvreux on behalf of Bekaert has bought 8 800 shares during the period from 7 November 2024 to 13 November 2024 on Euronext Brussels. During the same period, Kepler Cheuvreux on behalf of Bekaert has sold 6 896 shares on Euronext Brussels. The tables below provide an overview of the transactions under the liquidity agreem...
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