reports
- Christophe-Raphaël Ganet
- Stephane Beyazian
SZG SALZGITTER AG
MRN MERSEN SA
ALCLS CELLECTIS SA
SDF K+S AG
MIL BANK MILLENNIUM SA
SIX2 SIXT SE
COK CANCOM SE
VASTB VASTNED RETAIL BELGIUM NV
KENDR KENDRION NV
TWEKA TKH GROUP N.V. CERT
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
JEN JENOPTIK AG
HGEA HGEARS AG
IOS IONOS GROUP SE
SPG SPRINGER NATURE AG & CO. KGAA
- Christophe-Raphaël Ganet
- Stephane Beyazian
SZG SALZGITTER AG
MRN MERSEN SA
ALCLS CELLECTIS SA
SDF K+S AG
MIL BANK MILLENNIUM SA
SIX2 SIXT SE
COK CANCOM SE
VASTB VASTNED RETAIL BELGIUM NV
KENDR KENDRION NV
TWEKA TKH GROUP N.V. CERT
ALM ALMIRALL SA
DUE DURR AG
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
JEN JENOPTIK AG
HGEA HGEARS AG
IOS IONOS GROUP SE
SPG SPRINGER NATURE AG & CO. KGAA
- ING Helpdesk
Benelux Morning Notes
Alfen: Dead cat bounce? Ayvens: Overhang cure. Belgian telcos: Hey! discontinues €5 offer, OBEL price increases from June 2025. B&S Group: Pulls FY EBITDA guidance in light of tariffs. D'Ieteren: CMD, 1Q25 Preview. Kendrion: Wrestling through difficult macro conditions. NN Group, ASR: Vote on Dutch pension reforms postponed. TKH Group: Not that bad, good progress at Eemshaven. UCB: US Most Favoured Nation initiative back on the agenda. Vastned: Good results, integration ongoing...
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Alfen: slow Q1 as expected, FY25 guidance cut
Alfen published Q1 2025 figures yesterday. Revenue came in at EUR103.8m (-23% QoQ vs. EUR134.5m in Q4 2024, -11% YoY vs. EUR116.8m in Q1 2024) mainly due to challenging dynamics in EV charging and Energy Storage. This compares with FY25 revenue consensus standing at EUR483m. Q1 numbers were impacte
- Jacob Mekhael
- Kristof Samoy
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- ING Helpdesk
- Francesca Ferragina
- Michiel Vereycken
Eurocommercial Properties/Model update/BUY
1Q25 results were overall in line with forecasts and there were no surprises. LFL is normalising, up 3% driven by indexation but also renewal/relettings. Bottom line was up c.1%. LTV flat at 41.4% with a 3.2% average cost of debt. We update our estimates to include for these results and roll over our model up to 2027. While the growth profile is modest (top line 3-year CAGR at 2.5% and bottom line at 3%) we think the stock has an extremely appealing valuation trading at a 39.2% discount to 2025F...
Shareholders’ Meetings of 9 May 2025
Shareholders’ Meetings of 9 May 2025 Press ReleaseRegulated InformationAntwerp, 9 May 2025, 18:00 CET VGP NV (‘VGP’ or ‘the Group’) held today its Annual and Special Shareholders’ Meetings (the ‘Shareholder Meetings’) in accordance with the organization method as described in its press release of 9 April 2025. ANNUAL SHAREHOLDERS’ MEETING The shareholders approved all agenda items. We make reference to the agenda as included in the convocation of the Annual Shareholder’ Meeting and more specifically the agenda items regarding dividend and the (re-)appointment of the independent directo...
Algemene Vergaderingen van 9 mei 2025
Algemene Vergaderingen van 9 mei 2025 PersberichtGereglementeerde informatieAntwerpen, 9 mei 2025, 18:00 CET VGP NV ('VGP' of 'de Groep'), heeft vandaag haar Gewone Algemene Vergadering en haar Bijzondere Algemene Vergadering (de ‘Algemene Vergaderingen’) gehouden volgens de organisatie modaliteiten die in haar persbericht van 9 april 2025 worden beschreven. GEWONE ALGEMENE VERGADERING De aandeelhouders hebben alle agendapunten goedgekeurd. We verwijzen naar de agenda opgenomen in de oproeping van de Gewone Algemene Vergadering en meer bepaald de agendapunten met betrekking tot dividen...
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
PROX PROXIMUS SA DE DROIT PUBLIC
ZIL2 ELRINGKLINGER AG
LXS LANXESS AG
ACX ACERINOX SA
COFB COFINIMMO SA
INH INDUS HOLDING AG
KRN KRONES AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
BRNL BRUNEL INTERNATIONAL N.V.
SSO SCATEC ASA
NVG NAVIGATOR COMPANY SA
RENE REDES ENERGETICAS NACIONAIS SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
FACC FACC AG
WLN WORLDLINE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NKT NKT A/S
GEST GESTAMP AUTOMOCION S.A.
SAB BANCO DE SABADELL SA
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
S92 SMA SOLAR TECHNOLOGY AG
EAT AMREST HOLDINGS SE
NEXI NEXI S.P.A.
NLBR NOVA LJUBLJANSKA BANKA DD LJUBLJANA
AG1 AUTO1 GROUP
MRX MISTER SPEX SE
ECMPA EUROCOMMERCIAL PROPERTIES NV
BRE BREMBO S.P.A.
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
PROX PROXIMUS SA DE DROIT PUBLIC
ZIL2 ELRINGKLINGER AG
LXS LANXESS AG
ACX ACERINOX SA
COFB COFINIMMO SA
INH INDUS HOLDING AG
KRN KRONES AG
MONT MONTEA SCA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
BPOST BPOST SA
BRNL BRUNEL INTERNATIONAL N.V.
SSO SCATEC ASA
NVG NAVIGATOR COMPANY SA
RENE REDES ENERGETICAS NACIONAIS SA
ROVI LABORATORIOS FARMACEUTICOS ROVI S.A.
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
SIFG SIF HOLDING NV
FACC FACC AG
WLN WORLDLINE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NKT NKT A/S
GEST GESTAMP AUTOMOCION S.A.
SAB BANCO DE SABADELL SA
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
S92 SMA SOLAR TECHNOLOGY AG
EAT AMREST HOLDINGS SE
NEXI NEXI S.P.A.
AG1 AUTO1 GROUP
MRX MISTER SPEX SE
ECMPA EUROCOMMERCIAL PROPERTIES NV
BRE BREMBO S.P.A.
- ING Helpdesk
Benelux Morning Notes
Aedifica, Cofinimmo: Aedifica CMD feedback bpost: 1Q25 results beat strongly, outlook surprises Brunel: 1Q25 results disappoint on perm, weak revenue Cofinimmo, Aedifica: Negative reaction on Aedifica offer Eurocommercial Properties: Good with no surprise Montea: Good results, guidance reconfirmed Proximus: Small 1Q beat, guidance reiterated, soft commercial performance Sif Group: The jury is still out Talabat: Preview 1Q25 Universal Music Group: Peer Warner Music slowdown in streaming and prof...
GBLB GROUPE BRUXELLES LAMBERT SA
PNL POSTNL NV
COFB COFINIMMO SA
MONT MONTEA SCA
AED AEDIFICA SA
AALB AALBERTS N.V.
BPOST BPOST SA
BRNL BRUNEL INTERNATIONAL N.V.
VGP VGP NV
SIFG SIF HOLDING NV
UMG UNIVERSAL MUSIC GROUP NV
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
TALABAT TALABAT HOLDING PLC
- Thijs Berkelder
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thomas Vranken
- Wim Hoste
- Wim Lewi
- Wim Lewi
VGP 4m25 Trading Update, solid leasing activity
VGP reported strong leasing activity with €39.5m in new and extended leases for an annual contracted rental income of €431.8m, up 4.7% ytd and 14.8% YoY. The statement mentions a good spread of smaller new leases over different regions, but some significant new leases are being negotiated. The current pipeline with 837k sqm in development falls in line with our estimates of cautious selective growth. The important data point of pre-let% in the pipeline stands at 75%. The occupancy rate in the st...
- Roy Külter
- Steven Boumans
- Roy Külter
- Steven Boumans
VGP Trading Update
VGP Trading Update 9 May 2025, 7:00 am, Antwerp, Belgium: VGP NV (‘VGP’ or ‘the Group’) today published its trading update for the first four months of 2025: A record of € 39.5 million of new and renewed leases signed year-to-date bringing the annualised committed leases for the year to date to € 431.8 million1 (+ € 19.2 million compared to 31 December 2024, which is +4.7% YTD and +14.8% y-o-y). In addition, VGP is in advanced negotiations on a significant pipeline of lease agreements. 36 projects under construction representing 837,000 square meters (of which 6 projects totalling 139...
VGP Trading Update
VGP Trading Update 9 mei 2024, 7:00 uur, Antwerpen, België: VGP NV ('VGP' of 'de Groep') heeft vandaag haar handelsupdate voor de eerste vier maanden van 2025 gepubliceerd: Een record van € 39,5 miljoen aan nieuwe en verlengde huurovereenkomsten getekend tot nu toe, waardoor de jaarlijkse gecontracteerde huurinkomen op € 431,8 miljoen1 komen (+ € 19,2 miljoen vergeleken met 31 december 2024, wat +4,7% YTD en +14,8% j-o-j is). Bovendien is VGP in vergevorderde onderhandelingen over een aanzienlijke pijplijn van huurovereenkomsten. 36 projecten zijn in aanbouw, die een totaaloppervlakte ...
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