Two Directors at Barco NV bought 1,214,218 shares at between 12.955EUR and 13.016EUR. The significance rating of the trade was 68/100. 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 la...
UCB is entering a next stage of growth as it turns the page on the loss of exclusivity of several of its mature assets. The new chapter will focus strongly on five growth drivers: Bimzelx, Rystiggo, Zilbrysq, Fintepla and Evenity. Jointly, these assets could deliver significant topline growth and margin improvements in the coming years. We have conducted an extensive update of our model to incorporate these new dynamics. Our DCF-based valuation points to a fair value of € 143 per share (previous...
Our Bimzelx launch tracker tool keeps an eye on the ongoing commercialization of Bimzelx in the US by looking at total prescriptions (TRx). Our latest figure for week 22 points to 898 TRx, down 2% versus last week's result, and up 11% on a 4-week rolling basis. Altogether, we see a smooth ramp-up for Bimzelx in its first months since launch.
>Clubs and memberships as expected, and revenue 2% below estimates for Q1 - Basic-Fit reported 4.05m memberships as at end Q1 2024 (ABNe: 4.055m), implying 13% year-on-year growth, and 250k more memberships compared with end-2023. The acquisition of RSG Spain added over 100k memberships. The new uptake of the premium membership remains at c. 50% and is now 43% of the base. The number of clubs increased to 1,506, or 238 more clubs than a year ago, and 104 more clubs th...
Q1 was in line with expectations whereby volume growth was able to curb the persist price deflationNo rebound yet in newbuild but renovation is able to curb thisAll in all, we stick to our neutral stance and set our TP at EUR 12.0/share or 9x EV/EBITDA (2025e)
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
>On most key headlines, Basic-Fit reported in-line Q1 2024 results - Basic-Fit reported 4.05m memberships, 1,506 clubs and revenue of € 284m in Q1 2024. We had forecasts 4.055m memberships, 1,510 clubs and € 290m in revenue (there is no reliable consensus available). The average monthly revenue per membership amounted to € 23.57, which was a tad lower than our forecast of € 23.67. The number of clubs were as expected in France (814) and in Spain (199), a tad below our...
Basic-Fit: 1Q24 update in line, FY24 outlook in line with consensus at mid-point. bpost: Agreement on Flemish newspaper delivery; risk of provisions largely removed. Cofinimmo: Q1 results in line. Corbion: Tail wags the dog. IMCD: The last hurdle was a harsh clip. Proximus: Strong start to the year, guidance unchanged ahead of Digi arrival. Recticel: Kingspan 1Q24 trading update. Signify: 1Q24 results; revenue decline accelerates. Umicore: Confirms FY 2024 EBITDA guidance range. ...
Azelis: Strong margin performance in weak trading results in 3% EBITA beat. BE Semiconductor Industries: 1Q24 results; prolonged downcycle. Coca-Cola Europacific Partners plc: Messy but good. DWS: Record breaking. Flow Traders: Crypto Kings. Fugro: Here we go again. Kinepolis: Weak start to the year, but a bit better than feared. UCB: Changes in the group executive committee. Unilever: Heading in the right direction. Vonovia: Disposal of 4,500 apartments for €700m. Wolters Kl...
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