reports
Galapagos reports first quarter 2024 financial results
Galapagos reports first quarter 2024 financial results Advanced potentially best-in-class cell therapy and small molecule R&D pipeline comprising four clinical assets and >15 discovery programs in oncology and immunologyExecuted agreements with BridGene Biosciences and Thermo Fisher Scientific, and investment in Frontier MedicinesTransferred Jyseleca® business to Alfasigma S.p.A., freeing up resources to invest in growth areasGroup net revenues in the first quarter of €100 millionCash and current financial investments of €3.6 billion on 31 March 2024Reconfirmed 2024 cash burni guidance o...
Galapagos rapporteert financiële resultaten voor het eerste kwartaal 2...
Galapagos rapporteert financiële resultaten voor het eerste kwartaal 2024 Vooruitgang met potentiële best-in-class R&D pijplijn van celtherapie en kleine moleculen, met vier klinische assets en >15 onderzoeksprogramma's in oncologie en immunologie Overeenkomsten afgesloten met BridGene Biosciences en Thermo Fisher Scientific, en investering in Frontier MedicinesJyseleca® business overgedragen aan Alfasigma S.p.A., waardoor middelen vrijkomen om te investeren in groeigebiedenNetto groepsomzet in het eerste kwartaal van €100 miljoenGeldmiddelen en kortlopende financiële investeringen van €...
Galapagos’ shareholders adopt all resolutions proposed by the Board of...
Galapagos’ shareholders adopt all resolutions proposed by the Board of Directors at the Annual and Extraordinary Shareholders Meetings 2024 Mechelen, Belgium; 30 April 2024, 22:01 CET; Galapagos NV (Euronext & NASDAQ: GLPG) today announces that all resolutions proposed at the company’s Annual and Extraordinary Shareholders’ Meetings (AGM and EGM) held on 30 April 2024 were approved. The AGM approved, amongst other items: The Remuneration Report and revised Remuneration PolicyThe remuneration of the members of the Board of DirectorsThe reappointment of Dr. Elisabeth Svanberg as Independent...
Galapagos’ aandeelhouders keuren alle door de Raad van Bestuur voorges...
Galapagos’ aandeelhouders keuren alle door de Raad van Bestuur voorgestelde besluiten goed op de jaarlijkse Gewone en Buitengewone Algemene Aandeelhoudersvergaderingen 2024 Mechelen, België; 30 april 2024; 22:01 CET; Galapagos NV (Euronext & NASDAQ: GLPG) maakt vandaag bekend dat alle voorstellen tot besluit op de jaarlijkse Gewone en Buitengewone Algemene Aandeelhoudersvergaderingen van 30 april 2024 zijn goedgekeurd. De jaarlijkse Gewone Algemene Aandeelhoudersvergadering keurde onder meer goed: Het Remuneratieverslag en gewijzigde RemuneratiebeleidDe bezoldiging van de BestuurdersDe he...
- Nadège Tillier
- Baptiste Salaville
- Bruno Cavalier
- Jean Danjou
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/04/2024
The logistics market is our preferred real estate segment, where the coming growth remains undervalued. We prefer the high growth stock within this segment, CTP. We also have Outperform recommendations on Argan, Montea and VGP. We believe WDP is fully valued, though. - ...
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SW SODEXO SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
BC8 BECHTLE AG
ELI ELIA GROUP SA/NV
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SAP SAP SE
- Baptiste Salaville
- Bruno Cavalier
- Jean Danjou
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/15/2024
The logistics market is our preferred real estate segment, where the coming growth remains undervalued. We prefer the high growth stock within this segment, CTP. We also have Outperform recommendations on Argan, Montea and VGP. We believe WDP is fully valued, though. - ...
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SW SODEXO SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
BC8 BECHTLE AG
ELI ELIA GROUP SA/NV
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
SAP SAP SE
- Thijs Berkelder
Elia Group : Valuation starts to make sense again
>Clarity needed on new shareholder structure - Since we initiated coverage on Elia Group with an Underperform recommendation mid-January, the stock has underperformed the market by more than 20%. One of the key points in our investment case are our doubts on the viability of the current shareholder structure. It in our view is not rational for local Belgian governmental entities, controlling 48% of shares, to strongly further invest in grid expansions in Eastern Germa...
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Wim Lewi
- Jacob Mekhael
Galapagos Model update
Galapagos began 2024 with the completion of the transfer of the Jyseleca business to Alfasigma for € 50m upfront, € 120m in milestones and mid-single to mid-double digit royalties. This is expected to result in cost savings for Galapagos, and the company guides for FY24 cash burn of € 280-320m, coming in lower vs. FY23's € 415m. We update our model post FY23, replacing Jyseleca sales with royalties and milestones, and adjust our OPEX estimates to reflect the anticipated cost savings, landing at ...
Galapagos showcases innovative approach in hematological cancer care w...
Galapagos showcases innovative approach in hematological cancer care with clinical and translational data presentations at EBMT congress 2024 Two oral presentations and one poster on encore preliminary data from Phase 1/2 CD19 CAR-T studies in non-Hodgkin lymphoma (NHL) and chronic lymphocytic leukemia (CLL) / Richter transformation (RT) Mechelen, Belgium; 4 April 2024, 22:01 CET – Galapagos NV (Euronext & NASDAQ: GLPG) today announced that four abstracts, including two oral presentations on encore preliminary clinical and translational data for its seven-day vein-to-vein CAR-T product...
Galapagos publishes 2023 annual report and announces Annual and Extrao...
Galapagos publishes 2023 annual report and announces Annual and Extraordinary Shareholders’ Meetings Publication of annual report for financial year 2023Annual Shareholders’ Meeting resolutions include approval of revised Remuneration Policy and (re)appointment of Board membersExtraordinary Shareholders’ Meeting resolutions include approval of renewal of authorized capital and issuance of Gilead Subsequent Warrant B Mechelen, Belgium; 28 March 2024, 21.01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) today publishes its annual report for the financial year 2023 and an...
Galapagos publiceert 2023 jaarverslag en kondigt jaarlijkse Gewone Alg...
Galapagos publiceert 2023 jaarverslag en kondigt jaarlijkse Gewone Algemene en Buitengewone Algemene Aandeelhoudersvergaderingen aan Publicatie van jaarverslag over boekjaar 2023Voorstellen van besluit van de Gewone Algemene Vergadering omvatten de goedkeuring van een herzien remuneratiebeleid en de (her)benoeming van bestuurdersVoorstellen van besluit van de Buitengewone Algemene Vergadering omvatten de goedkeuring van de hernieuwing van het toegestaan kapitaal en van de uitgifte van de Gilead Subsequent Warrant B Mechelen, België; 28 maart 2024, 21:01 CET; gereglementeerde informatie – G...
- Emmanuel Matot
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/03/2024
Hormis les Etats-Unis, les marchés de la construction devraient continuer à reculer en 2024 (-2% en Europe) avant de rebondir à la faveur d’une baisse des taux. Dans ce contexte, la différenciation entre les groupes se fera essentiellement sur leur capacité de résistance (mix géographique et prix/ coûts), l’allocation du capital (et situations spéciales) et leur valorisation. Face à cet environnement, nous relevons nos recommandations sur KONE (la modernisation comme relais de la Chin...
- Emmanuel Matot
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/28/2024
With the exception of the US, construction markets should continue to shrink in 2024 (-2% in Europe) before rebounding on the back of lower interest rates. Against this backdrop, groups will be differentiated mainly on the basis of their resilience (geographical and price/cost mix), capital allocation (and special situations) and valuation. In this context, we are upgrading our recommendations on KONE (modernisation as an alternative source of growth to China) and Holcim (a substantia...
- Emmanuel Matot
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/03/2024
Hormis les Etats-Unis, les marchés de la construction devraient continuer à reculer en 2024 (-2% en Europe) avant de rebondir à la faveur d’une baisse des taux. Dans ce contexte, la différenciation entre les groupes se fera essentiellement sur leur capacité de résistance (mix géographique et prix/ coûts), l’allocation du capital (et situations spéciales) et leur valorisation. Face à cet environnement, nous relevons nos recommandations sur KONE (la modernisation comme relais de la Chin...
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Lynn Hautekeete
- Sharad Kumar S.P
- Thibault Leneeuw
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Thijs Berkelder
HAL Trust : Boskalis key driver for strong earnings improvement
>Net earnings of € 1.0bn (= € 11.17 per share) - Results. HAL reports a 2023 net result of € 1,000.5m (= € 11.17 per share), up from € 646.8m (€ 7.23 ps) for 2022. After 23H1 of € 550.0m (= € 6.20 ps), up from minus € 161.2m in 22H1 (= minus € 1.82 ps), this implies for 23H2 net result of € 450.5m (= € 4.97 ps), compared to € 808.0m (€ 9.05 ps) in 22H2.Unquoted companies. The EBIT of unquoted companies amounted to € 915m (2022: € 403m), an increase of € 512m. Exc...
- Sharad Kumar S.P
Hal Trust FY23: Portfolio Rebounds Thanks To Record Results At Boskali...
During FY23, NAV came in at €13,563.0m (€150.1ps), a slight increase of +1.6% vs €147.7ps during FY22. Thanks to the 100.0% acquisition of Boskalis, net result rose by 54.7% YoY to €1,001.0m vs €647.0m during FY22. Boskalis posted record results with revenues, EBITDA and net result rising by 19.7%, 68.2% and 149.4% respectively – this has a steady rally in the name over the last couple weeks. Proposed gross dividend (cash only) for FY23 is €2.85ps, up 14.0% YoY. The location of management of the...
- Joren Van Aken
HAL Trust - FY23: Slightly below estimates & strategic changes
*FY23 NAV at EUR 150.1 p/s, up 1.6% YoY and slightly below our estimate.*Proposed dividend of EUR 2.85 already pre-announced.*Move to Rotterdam + fiscal friendly dividends point to intention to remain listed and increase investability.*With EUR 2.9bn of cash available, liquidity is plenty and hence future share price performance is highly dependent on capital allocation which has been disappointing for some tech names in the portfolio. *We estimate today's NAV to be EUR 160.1 p/s, implying ...
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