Fastned has published its Q1 2025 key metrics and reiterated FY25 guidance for the number of operating stations. Q1 sales came in at EUR28.0m (+48% YoY), leaving a minimum implied annual run-rate of at least EUR112m (vs cons. at EUR128m for FY25 and BGe EUR135m). Fastned posted a gross margin of 70
Aalberts: Preview - priced like it is 2009 all over again. ABN AMRO: Pre-close 1Q – focus on capital & new CEO. Ahold Delhaize: Preview 1Q25. Arcadis: Gatwick work. Basic-Fit: 1Q25 trading update; strong membership ingrowth; CB repayment refinancing. CM.com: 1Q25 trading update. Fastned: 1Q25 trading update; disappointing charging volumes. NSI: A steady quarter, increasing vacancy on the horizon. Sligro: Soft 1Q25 sales, no outlook provided. Wereldhave: Guidance at the higher e...
Trumps reciprocal tariffs caused a massive blow to equity markets, following a pressured period of escalating trade wars. Retaliatory measures can further heavily damage market confidence, as seen Friday when China announced their 34% tarrif of US goods. International trade policies have never moved this erratic and untransparant, with uncertainty and volatility being the baseline for now. In this report we highlight the key stocks in our coverage relevant to this discussion.
We take advantage of the recent publication of Fastned's FY24 results to update our model. Although FY24 headline metrics were in line with consensus, Fastned slightly disappointed at the bottom line with lower-than-expected EBITDA at EUR7.4m (-50% vs cons.), due to increasing network operation cos
Fastned will report its 1Q25 trading update on Thursday, 17 April. This trading update typically only provides revenue, gross profit and operating metrics. We have slightly adjusted our forecasts, after the recently published FY24 annual report reflected higher-than-expected cost developments at the company. Our revenue and gross profit estimates for 2025 remain unchanged. We expect 1Q25 revenue of €28m, and gross profit of €21.4m. We stick to our HOLD rating but lower our target price to €18 pe...
Two Directors at NN Group NV sold 10,081 shares at between 50.660EUR and 52.030EUR. The significance rating of the trade was 70/100. 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...
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...
Arcadis: Large contract in Resilience. ASM International: Highlights from CFO roadshow. Exor: Exor buying back Exor shares. Fastned: 2H24 results, cost pressure. Flow Traders: February volumes elevated in EMEA. Montea: JV with Weerts in Belgium. Sligro: FY24 results in line, weak 1Q25 outlook. Sofina: Final NAV a tad higher. Umicore: CMD targets – no big bang
Fastned published its FY24 annual report this morning. The top line and gross margin had already been communicated, with revenue reaching EUR86.7m (vs cons. at 86m) and 79% gross margin (vs 74% FY23), Fastned reported a positive but lower-than-expected EBITDA at EUR7.4m (-50% vs cons. of EUR14.8m,
NN Group is finally on a better footing to approach its upcoming Capital Markets Day. While OCG remains flattish, Solvency 2 is close to 200%, and has a solid path to reach 210%. Share Buybacks may see a progression of €50m to €350m per annum, but more could come as Dutch Life is reducing its declining trend and we believe may even reach growth in the long run. We continue to question the rationale for Japan and the Bank, but nothing looks imminent, and a swap for another asset would be our pref...
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