reports
- Wim Hoste
Heineken Feedback conference call
Below are the highlights of the conference call. As previously hinted at, Heineken did report a fairly weak 1Q trading update with beer volumes down 2.1%, impacted ao by the timing of Easter, Tet and one trading day less. Importantly, Heineken did stick to its FY25 guidance range of 4-8% organic operating profit (beia) growth. We still appreciate Heineken for the earnings recovery potential in coming years, supported by sizeable cost savings initiatives (€ 400m/y). We maintain our Accumulate rat...
- Chaima Ferrandon
- Christian Arnold
- Sven Edelfelt
LHN HOLCIM AG
FP TOTAL SE
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
GET GETLINK SE
SGO COMPAGNIE DE SAINT-GOBAIN SA
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EDEN EDENRED SA
IPN IPSEN SA
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
BT.A BT GROUP PLC
SESGL SES SA FDR (CLASS A)
DG VINCI SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
NK IMERYS SA
SLB.N SCHLUMBERGER NV
KPN ROYAL KPN NV
ORA ORANGE SA
VCT VICAT-CIMENTS VICAT SA
TKA TELEKOM AUSTRIA AG
GTT GAZTRANSPORT & TECHNIGAZ SA
FGR EIFFAGE SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
SBMO SBM OFFSHORE NV
EN BOUYGUES SA
GBF BILFINGER SE
SRT3 SARTORIUS AG PREF
AGS AGEAS SA/NV
UTDI UNITED INTERNET AG
OMV OMV AG
AMUN AMUNDI SA
GAMA GAMMA COMMUNICATIONS
RAND RANDSTAD NV
ENI ENI S.P.A.
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
DTE DEUTSCHE TELEKOM AG
P2F PETROFAC LIMITED
IMPN IMPLENIA AG
REP REPSOL SA
CRG CRH PLC
TUB TUBACEX S.A.
SOC SUBSEA 7 S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
DIM SARTORIUS STEDIM BIOTECH SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
WBD WEBUILD S.P.A.
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
TRE TECNICAS REUNIDAS SA
RIO RIO TINTO PLC
TEC TECHNIPFMC PLC
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SNP PETROM S.A.
ASML ASML HOLDING NV
BP. BP P.L.C.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SIK SIKA AG
FDJ LA FRANCAISE DES JEUX SA
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
FUR FUGRO NV
SHEL SHELL PLC
SPM SAIPEM S.P.A.
TEN TENARIS S.A.
VIRI VIRIDIEN
- Chaima Ferrandon
- Christian Arnold
- Sven Edelfelt
LHN HOLCIM AG
FP TOTAL SE
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
GET GETLINK SE
SGO COMPAGNIE DE SAINT-GOBAIN SA
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EDEN EDENRED SA
IPN IPSEN SA
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
BT.A BT GROUP PLC
SESGL SES SA FDR (CLASS A)
DG VINCI SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
NK IMERYS SA
SLB.N SCHLUMBERGER NV
KPN ROYAL KPN NV
ORA ORANGE SA
VCT VICAT-CIMENTS VICAT SA
TKA TELEKOM AUSTRIA AG
GTT GAZTRANSPORT & TECHNIGAZ SA
FGR EIFFAGE SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
SBMO SBM OFFSHORE NV
EN BOUYGUES SA
GBF BILFINGER SE
SRT3 SARTORIUS AG PREF
AGS AGEAS SA/NV
UTDI UNITED INTERNET AG
OMV OMV AG
AMUN AMUNDI SA
GAMA GAMMA COMMUNICATIONS
RAND RANDSTAD NV
ENI ENI S.P.A.
GEBN GEBERIT AG
HEI HEIDELBERGCEMENT AG
DTE DEUTSCHE TELEKOM AG
P2F PETROFAC LIMITED
IMPN IMPLENIA AG
REP REPSOL SA
CRG CRH PLC
TUB TUBACEX S.A.
SOC SUBSEA 7 S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
SBO SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG
DIM SARTORIUS STEDIM BIOTECH SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
WBD WEBUILD S.P.A.
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
TRE TECNICAS REUNIDAS SA
RIO RIO TINTO PLC
TEC TECHNIPFMC PLC
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SNP PETROM S.A.
ASML ASML HOLDING NV
BP. BP P.L.C.
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SIK SIKA AG
FDJ LA FRANCAISE DES JEUX SA
VK VALLOUREC SA
TE TECHNIP ENERGIES NV
FUR FUGRO NV
SHEL SHELL PLC
SPM SAIPEM S.P.A.
TEN TENARIS S.A.
VIRI VIRIDIEN
- Robert Jan Vos
- ING Helpdesk
Benelux Morning Notes
Ackermans & van Haaren: Another Delen Private Bank acquisition in the Netherlands. Ahold Delhaize: Peer Albertsons FY24/25 results. ASML: 1Q25 results; already weaker ahead of the tariffs. Barco: Calm before the storm. Heineken: In the hold. Melexis: Partial move to China. Staffing sector: Hays' 3Q24/25 trading update; in line. Vopak: New industrial terminal or energy transition facility? WDP: €60m investment with KDL
- Wim Hoste
Heineken FIRST LOOK: 1Q beer volume -2.1%, FY guidance maintained
As previously hinted at, Heineken did report a fairly weak 1Q trading update with beer volumes down 2.1%, impacted ao by the timing of Easter, Tet and one trading day less. Importantly, Heineken did stick to its FY25 guidance range of 4-8% organic operating profit (beia) growth. We still appreciate Heineken for the earnings recovery potential in coming years, supported by sizeable cost savings initiatives (€ 400m/y). We maintain our Accumulate rating and € 100 target price.
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Thibault Leneeuw
- Wim Hoste
- Wim Lewi
Heineken N.V. reports on 2025 first quarter trading
Heineken N.V. reports on 2025 first quarter trading Heineken N.V. reports on 2025 first quarter trading Amsterdam, 16 April 2025 – Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) announces First quarter performance as anticipated, full year outlook unchanged Key Highlights Revenue €7,784 million, decreasing 4.9%Net revenue (beia) organic growth up 0.9%; per hectolitre increasing 3.3%Beer volume organic decrease of 2.1% Premium beer volume organic growth of 1.8%; Heineken® volume growth of 4.6% Outlook for the full year unchanged; operating profit (beia) expected to grow organically 4% ...
HEINEKEN appoints new Regional President Africa and Middle East
HEINEKEN appoints new Regional President Africa and Middle East HEINEKEN appoints new Regional President Africa and Middle East Amsterdam, 14 April 2025 - Heineken N.V. (HEINEKEN) today announces that it has appointed Guillaume Duverdier as Regional President Africa Middle East (AME), and member of the HEINEKEN Executive Team, as per 1 July 2025. Guillaume, currently Managing Director HEINEKEN México, will succeed Roland Pirmez, who will be retiring after a successful career of 29 years within the company. Guillaume DuverdierGuillaume joined HEINEKEN in 2000 and has built an impressive ...
Heineken N.V. reports the progress of transactions under its current s...
Heineken N.V. reports the progress of transactions under its current share buyback programme Heineken N.V. reports the progress of transactions under its current share buyback programme Amsterdam, 14 April 2025 - Heineken N.V. (EURONEXT: HEIA; OTCQX: HEINY) hereby reports transaction details related to the first €750 million tranche of its €1.5 billion share buyback programme as communicated on 12 February 2025. From 7 April 2025 up to and including 11 April 2025 a total of 73,214 shares was repurchased on exchange at an average price of € 72.57. During the same period, 72,990 shares wer...
- Kristof Samoy
CMB.Tech Signing charter agreement with Fortescue for NH3 fitted Newca...
CMB.Tech signed an agreement with the Australian miner Fortescue to charter a new ammonia-powered vessel. The 210k dwt ammonia-powered Newcastlemax will feature a dual fuel engine and is expected to be delivered by the end of 2026. No contract details have been disclosed, but as the Newcastlemax has been bought at risk by CMB a while ago the charter terms are expected to yield appealing IRRs and bring long contract duration. Following the LT charter agreement with MOL announced a few weeks back,...
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Kristof Samoy
- Thomas Couvreur
- Thomas Vranken
- Wim Lewi
- Jacob Mekhael
Sequana Medical CMS proposes NTAP top up payment for the alfapump
Sequana announced that the Centers for Medicare and Medicaid Services (CMS) recommends that alfapump system cases be eligible for incremental payment via a new technology add-on payment (NTAP). This proposal could bring an NTAP top-up payment of up to $ 19,500 on top of the existing DRG payments, boosting the device's reimbursement position, and could make the alfapump procedure profitable for hospitals, which is likely to help drive adoption. With center training due to be completed by the end ...
Fortescue and CMB.TECH sign agreement for ammonia-powered ore carrier
Fortescue and CMB.TECH sign agreement for ammonia-powered ore carrier Antwerp, April 14, 2025 (GLOBE NEWSWIRE) -- CMB.TECH NV (NYSE: CMBT & Euronext: CMBT) (“CMB.TECH” or the “Company”) has signed an agreement with Fortescue to charter a new ammonia-powered vessel. This emphasises the commitment of both companies to decarbonise the shipping industry. This 210,000-dwt ammonia-powered Newcastlemax will feature a dual fuel engine and is expected to be delivered by the end of 2026. Fortescue and Bocimar, part of CMB.TECH, have signed an agreement for an ammonia-powered Newcastlemax featur...
- Thomas Vranken
Fagron Capital Markets Day feedback
Yesterday, Fagron hosted a Capital Markets Day where it laid out its strategic priorities for 2030. We see the updated Compounding for Growth strategy as a natural extension of the successful current trajectory. Financial targets are set for HSD-LDD organic CER revenue growth, a 21.0% REBITDA margin by 2027 progressively increasing thereafter to 2030, =70% operating cash conversion, =50% FCF conversion and 3.5% maintenance capex. Management continues to expect solid organic growth across all reg...
Fagron publishes agenda for 2025 annual shareholders meeting
Fagron publishes agenda for 2025 annual shareholders meeting Regulated informationNazareth (Belgium)/Rotterdam (The Netherlands), 11 April 2025 – 8 AM CET Fagron publishes agenda for 2025 annual shareholders meeting The Board of Directors of Fagron NV invites shareholders to attend Fagron’s annual general meeting of shareholders on Monday 12 May 2025. AgendaThe agenda includes the discussion of the annual report, the approval of the annual financial statements and the dividend proposal of €0.35 for the financial year 2024, and the approval of the remuneration policy. The full agenda and ...
Fagron publiceert agenda jaarlijkse aandeelhouders-vergadering 2025
Fagron publiceert agenda jaarlijkse aandeelhouders-vergadering 2025 Gereglementeerde informatieNazareth (België)/Rotterdam (Nederland), 11 april 2025 – 8u CET Fagron publiceert agenda jaarlijkse aandeelhouders-vergadering 2025 De Raad van Bestuur van Fagron NV nodigt de aandeelhouders uit om de jaarlijkse algemene vergadering van aandeelhouders van Fagron bij te wonen op maandag 12 mei 2025. AgendaOp de agenda staan onder andere de bespreking van het jaarverslag, de goedkeuring van de jaarrekening en het dividendvoorstel van €0,35 over het boekjaar 2024 en de goedkeuring van het remun...
- Amira Manai
- Aurelien Sivignon
- Thomas Zlowodzki
- Amira Manai
- Aurelien Sivignon
- Thomas Zlowodzki
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