In this April 2025 update of the KBC Securities' Dynamic Top Pick List, we are removing Gimv and adding Adyen. Since adding Gimv to the Dynamic Top Pick List in mid-December 2024, Gimv's performance has remained flat. However, month-to-date, it has increased by nearly 7%, while the indices have all declined. Given the backdrop of a tariff war brewing, we think it's time to remove Gimv from the Dynamic Top Pick List as medium-sized businesses are more likely to feel the pinch of lower demand and...
Miko announced that the results of its continued recurring business in 2024 posted double-digit growth over last year. Miko's good recurring core business in FY24 was overshadowed by a non-recurring loss of € 15.5m; On the one hand, there was exceptional earn-out of € 5m on Miko Pac (sold in FY21) and on the other hand the sale of SAS (May'24) resulted in a significant loss of € 20.5m. So, 2024 was a very turbulent year. The decision to exit from SAS was very painful. Miko took this decision ...
CMB.TECH announces final year results CMB.TECH ANNOUNCES FINAL YEAR RESULTS TRANSFORMATIONAL YEAR AND STRONG EARNINGS ANTWERP, Belgium, 27 March 2025 – CMB.TECH NV (“CMBT”, “CMB.TECH” or “the Company”) (NYSE: CMBT & Euronext: CMBT) reported its final financial results today for the full year ended 31 December 2024. HIGHLIGHTS 2024 Profit of USD 93.1 million in Q4 2024 bringing full year profit to USD 870.8 million Total contract backlog increased to USD 2.94 billionName change from Euronav to CMB.TECH (ticker symbol CMBT)CMB.TECH focused on its fleet rejuvenation with 21 newbuild delive...
Last Friday Golden Ocean announced that CMB.Tech now controls two out of four of its board seats. This follows the strategic acquisition in early March of the 40.8% stake previously held by John Frederiksen. This morning during trading hours, CMB.Tech further bolstered its position by announcing a significant long-term time charter agreement with the Japanese shipping conglomerate MOL, involving nine ammonia-ready/fitted vessels. This agreement adds approximately $675 million (pro rata) to its $...
We expect more news to be announced on its Golden Ocean ambitions in the weeks ahead, but the recent SEC filing could indicate a potential future share-based tie-up. In such a scenario, CMB.TECH would vastly expand its dry bulk exposure, with potentially cash-generating assets on the water. However, this is at odds with our more muted dry bulk sector outlook and what we believe was a premium valuation. We reinstate our recommendation with a SELL and USD7.6 target price.
Avolta: strong set of full-year earnings, medium-term targets confirmed|Fnac Darty: S&P revised the outlook to stable on BB+ rating|Wendel announced the forward sale of Bureau Veritas shares representing 6.7% of the capital.|Branicks FY 24 results: Vacancy deteriorated further (7.4%), aims EUR 600-800m in asset sales|GCP FY 24 results: Solid year and overall in good shape|Viridien: pricing of the bond offering|
Avolta : solides résultats annuels, objectifs moyen terme confirmés|Fnac Darty : S&P a relevé la perspective à stable sur la note BB+|Wendel a annoncé la Vente à Terme d’actions Bureau Veritas représentant 6,7 % du capital|Branicks FY 24 results: Vacancy deteriorated further (7.4%), aims EUR 600-800m in asset sales|GCP FY 24 results: Solid year and overall in good shape|Viridien: pricing of the bond offering|
Basic-Fit reports FY24 results below our expectations. The underlying EBITDA less rent came in at EUR 312.9m vs EUR 319.7m KBCSe. The difference comes from higher employee expenses driven by more 24/7 openings in France in 2H24. On a net results basis the expectations were not met due to 10% higher financing costs. Both the expansion and maintenance capex per club are higher than initially guided. The higher maintenance capex impacted the FCF per share at EUR 2.36 vs EUR 2.60-2.95 guided (EUR 2....
Ageas: Final stages in race for bidders on ESURE (UK). Agfa-Gevaert: A strong end to the year, driven by Healthcare. Basic-Fit: FY24 broadly in line; outlook FY25 below due to more aggressive 24/7 roll-out. GBL: Preview of upcoming FY24 results. Staffing: Manpower Employment Outlook Survey 2Q25; positive but stable trend vs 1Q25
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