Greenyard N.V. : Deprez family planning to take Greenyard private for ...

Benelux Morning Notes

Ageas: Acquires ESURE (UK) for €1.5bn, expects +10% FCF accretion post integration. Greenyard: For a healthier future as a private company

Morning Notes : AGS BB, CMBT BB, FAGR BB, GREEN BB, SEQUA BB

: AGS BB, CMBT BB, FAGR BB, GREEN BB, SEQUA BB

Benelux Morning Notes

Greenyard: Press reports on possible delisting. Vår Energi: Slow production start

Benelux Morning Notes

Greenyard: Expansion of Long Fresh activities in France. Umicore: Mixed thoughts post CMD. Events Calendar

Morning Notes : BAR BB, EXM BB, GREEN BB, HAL NA, UMI BB

: BAR BB, EXM BB, GREEN BB, HAL NA, UMI BB

Real Asset Conference feedback 19-20 March 2025

This note gathers feedback from the group meetings and the panels. In total 21 companies were presented in group meetings and/or panels. More than 100 guests found their way to the venue either physical or virtual (only panels). The 2 panels made for informative additions to the C-level meetings and a nice platform for discussion. Wednesday afternoon concentrated 4 experts from Logistic companies (CTP, Montea, VGP, WDP) for an interesting discussion on brownfields: " an answer to the scarcity of...

Morning Notes : AGFB BB, DSFIR NA, GREEN BB, ZEAL DC

: AGFB BB, DSFIR NA, GREEN BB, ZEAL DC

Benelux Morning Notes

Arcadis: Short-term uncertainty, long-term continues to look attractive. Coverage change. Results Calendar

Alfen/Specific qualities for a specific audience/BUY (previously Hold)

Alfen's 4Q24 results were broadly in line with our expectations, but with the new medium-term objectives as well as the more specific 2025 guidance undershooting our below consensus expectations. We therefore cut our 2025-26 revenue estimates by 11% and 14% and our EBITDA estimates by 28% and 24% respectively. Management did bite the bullet and provided more cautious end market growth prospects for the different business segments. Equally importantly, several cost actions were taken that should ...

Morning Notes : ADYEN NA, AGFB BB, BFIT NA, IMMO BB, TINC BB, ALFEN NA...

: ADYEN NA, AGFB BB, BFIT NA, IMMO BB, TINC BB, ALFEN NA, ZEAL DC

TINC FY24 – Capital Raise Will Allow Portfolio To Double

During FY24, TINC's NAV came in at €506.4m (or €13.93ps), up 2.4% YoY. Portfolio result clocked in at €50.7m (or 10.84%) while net profit came in at €42.5m (or €1.17ps). TINC's investment portfolio now has 31 participations with a cumulative FV of €512.1m (vs. KBCSe €521.1m), up 9.3% YoY. During FY24, TINC committed €141.3m across 4 new and 3 existing participations. TINC will distribute a gross dividend of €0.58ps – €0.18ps distributed and €0.4ps capital reduction. TINC announced that it is pre...

Alfen: Michelle Lesh steps down as CCO

This morning, Alfen announced that Michelle Lesh, who has served as Alfen's CCO since 2021, has decided to step down from her role, effective 31st March 2025. Over the past four years, Michelle was instrumental in leading Alfen’s commercial and business development efforts across all three of its b

Holdings Report - February 2025 KBCS Holdings Universe Returns 3.7% Du...

1M Performance - Absolute: During Feb'25 (1M period), the KBCS Holdings Universe posted a return of +3.7% which was mainly driven by single-asset holdings (+11.1%) while multi-asset holdings posted a modest return of +0.5%. The 3 top performers during the period were Heineken Holding (+21.3%), KBC Ancora (+6.9%) and Ackermans & van Haaren (+4.4%) while the 3 worst performers were Financière de Tubize (-6.3%), Compagnie du Bois Sauvage (TINC; -6.6%) and Whitestone Group (-6.8%). YTD Performance...

Morning Notes : AED BB, ATEB BB, INGA NA, TINC BB, CTPNV NA

: AED BB, ATEB BB, INGA NA, TINC BB, CTPNV NA

Holdings Report - January 2025 KBCS Holdings Universe Returns 3.1% Dur...

1M Performance - Absolute: During Jan'25 (1M period), the KBCS Holdings Universe posted a return of +3.1% which was mainly driven by multi-asset holdings (+3.3%) while single-asset holdings posted a slightly lower return of +2.7%. The 3 top performers during the period were Sofina (+10.6%), Financière de Tubize (+7.5%) and Whitestone Group (+6.4%) while the 3 worst performers were Gimv (-2.0%), The Infrastructure Company (TINC; -3.4%) and Texaf (-5.1%). YTD Performance - Relative: On a YTD bas...

ODDO BHF Small & MIDCAP MORNING NEWS – 02/19/2025

ODDO BHF Small & MIDCAP MORNING NEWS – 19/02/2025

Greenyard N.V. : TP cut to € 7.50, but Outperform reiterated because o...

TINC Big Investment in The Netherland's largest battery storage system

TINC announced that it has made a €61m (for a 36.67% preferred equity interest) investment in Project Mufasa, one of the largest battery energy storage systems (BESS) in the EU. TINC will fund the investment under its €200m revolving credit facility. The project will be located in the North Sea Port Vlissingen, a key hub for renewable energy in the Netherlands. The BESS will replace a former coal-fired power plant and represents a major step forward in supporting the transition to renewable powe...