reports
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Walmart 1Q24/25 results. Azelis: Share placement by EQT and PSP. Belgian telcos: Digi mobile prices to be well below competition, targets 10% mkt share. EVS: Slow start, sales guidance held on strong pipeline, EBIT guidance below consensus. Exmar: Stable start to the year. Prosus: Fabricio Bloisi (CEO iFood) appointed as group CEO. Sif Group: 1Q24 pretty much in line, timing shifts a bit
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Sharad Kumar S.P
- Wim Lewi
- Wim Lewi
Xior Balance Sheet recovery is priority nr1, for real
Xior explained that patching up the balance sheet takes priority over EPS growth. Despite rising debt costs, the EPRA EPS stabilised with new deliveries, strong lfl growth and some exceptionals. Thanks to a strong underlying market, Xior opts not to take low-ball bids for its large assets/projects. It also extended the bridge loan to 3Q24. Selling smaller non-core assets takes more time, but will eventually push the LTV% below 50%. The next 2 years will show slow EPS growth, but the LTV% decline...
Umicore S.A.: 1 director
A director at Umicore S.A. bought 5,100 shares at 19.820EUR and the significance rating of the trade was 60/100. 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 last two years clearly s...
- ING Helpdesk
Benelux Morning Notes
AEGON: 1Q24, new unexpected SBB, underlying OCG better, strong ratios across. Belgian telecoms: Digi to start with mobile. CFE: Preview - forecasting revenue numbers… D'Ieteren: Belron US peer Boyd 1Q24 below consensus, warns on 2Q24 growth. Econocom: Joins consortium formed by Onepoint and Butler Industries to acquire Atos. KBC: 1Q24 better across, special dividend, capital distribution pushed back to 1H25. Syensqo: 1Q24 a touch better, positive earnings momentum confirmed. Umicore:...
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Sharad Kumar S.P
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Wim Hoste
Umicore FIRST LOOK: Bart Sap to become new CEO
Umicore has nominated its Catalysis head Bart Sap as new group CEO, in succession of Mathias Miedreich, who is stepping down in mutual agreement with the Board. The press release points out that capex spend will be re-evaluated under the new CEO, suggesting that the company might slow down its growth plans somewhat in light of the slower battery materials market growth and taking into account the balance sheet implications of the initial capex plans. We continue to believe Umicore is well placed...
- Frank Claassen
Umicore - CEO leaving raises even more question marks
• As of today CEO Mathias Miedreich will be replaced by Bart Sap, who was leading the Catalysis division. • Priority of the new CEO will be to review all the developments plans in Battery materials.• We always had our question marks and doubts on all these investments and the return profile of Battery materials and this is only further increased by this surprising news. We put our rating (Hold), estimates and TP (was EUR 23) under review.
Corbion General Shareholders Meeting approves Board (re)appointments a...
Corbion General Shareholders Meeting approves Board (re)appointments and dividend The annual Corbion General Shareholders Meeting held on 15 May 2024 approved the reappointment of Ilona Haaijer and Steen Riisgaard as members of the Supervisory Board. Peter Kazius was appointed as CFO. He will succeed Eddy van Rhede van Kloot, and will form the Board of Management together with CEO Olivier Rigaud. At the shareholders meeting the proposed dividend of € 0.61 per ordinary share for the financial year 2023 was also approved. Dividends will be all-cash and will in principle be subject to Dutch ...
- ING Helpdesk
Benelux Morning Notes
Aalberts: Preview - steady in difficult markets. ABN AMRO: 1Q24 overshadowed by weaker capital, even if a strong set. AEGON: 1Q24 Preview (trading update). Alfen: Preview - clarity on one-off Pacto costs crucial. B&S Group: Bolt-on acquisition in Personal Care. Belgian telcos: BIPT notes that fibre cooperation negotiations not ready by 15 May. EVS: 1Q24 preview. Euronext: Another record, with Beats by Boujnah. Montea: €12m acquisition in the Port of Ghent. Staffing: Dutch Perio...
PROX PROXIMUS SA DE DROIT PUBLIC
ABN ABN AMRO BANK NV DEPOSITARY RECEIPTS
EVS EVS BROADCAST EQUIPMENT SA
RAND RANDSTAD NV
MONT MONTEA SCA
AALB AALBERTS N.V.
BRNL BRUNEL INTERNATIONAL N.V.
TWEKA TKH GROUP N.V. CERT
OBEL ORANGE BELGIUM SA
BSGR B&S GROUP S.A.
ALFEN ALFEN NV
AGN AEGON N.V.
Shareholders IMCD N.V. adopt all resolutions at AGM
Shareholders IMCD N.V. adopt all resolutions at AGM ROTTERDAM, The Netherlands (14 May 2024, 17:00 hrs CEST) – IMCD N.V. ("IMCD" or "Company"), a global leading distribution partner, formulator of speciality chemicals and ingredients, announces that all resolutions proposed to the shareholders Annual General Meeting of shareholders (AGM) held today were adopted. Turn-out was high, with almost 88% of shareholder represented. The resolutions included adoption of the financial statements for the year 2023 and approval of the dividend proposal of EUR 2.24 per share in cash. The dividend ...
- Stephane Beyazian
- Stephane Beyazian
- Martijn Den Drijver
Umicore : SFPIM takes 5% stake, likely to defend and influence Umicore
>Belgian sovereign wealth fund takes 5% stake via public market purchases - The Belgian sovereign wealth fund SFPIM has announced it has built up a stake of 5% in Umicore. The unit acquired the shares in the market (3% threshold crossed on May 3rd, 5% threshold crossed on May 8), explaining the unexplained run up in the shares last week. For those that do not know SFPIM, it is an investment fund that takes stakes in listed and unlisted companies with a mission that is...
- Guy Sips
- Jacob Mekhael
- Sharad Kumar S.P
- Wim Hoste
- Marc Zwartsenburg
- CEFA
- Reg Watson
- CFA
Basic-Fit/Tackling the issues/BUY
We keep our BUY rating but lower our target price from €37.50 to €35.75 as we modestly reduce our estimates due to slightly lower membership ingrowth. 1Q24 update was more or less in line, although membership ingrowth was a notch behind but seems to some extent a phasing effect. Nevertheless, we remain cautious as the macro headwinds persist while the French ingrowth issues have not been solved yet. Positive, however, is that the issues are being addressed. Some other issues are still a work in ...
- ING Helpdesk
Corbion reports the progress of its € 20 million share buyback program...
Corbion reports the progress of its € 20 million share buyback program 6 May – 10 May 2024 Corbion hereby reports the transaction details related to its € 20 million share buyback program announced on 26 April 2024. During the week of 6 May up to and including 10 May 2024 a total of 56,299 shares were repurchased at an average price of €21.3620 for a total amount of €1,202,658.73. To date, the total consideration for shares repurchased amounts to €1,999,484.52 representing 10.00% of the overall share buyback program. Corbion publishes on a weekly basis every Monday, an overview of the pr...
- Kris Kippers
Proximus - Rumours interest in Syniverse seems overdone
US telco services provider Syniverse is put up for sale and Proximus is rumoured to be looking at the file carrying a price tag of EUR 1.4-1.9bnAlthough we do see the potential synergies given Proximus' presence in such services with Telesign, BICS and Route Mobile, it seems too far fetchedIn the coming weeks, we expect positive newsflow from collaboration on fiber in Belgium and a mini-CMD on Route MobileAll in all, we stick to our BUY rating and DCF-derived TP of EUR 11.0 per share. Proxi...
- Kris Kippers
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