All Belgian Shares Part 4 – Nr. 61-80

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And on we go, turning rocks and kissing frogs within the Belgian inventory market. This batch of 20 randomly chosen shares yielded 4 watch checklist candidates, amongst them a inventory I owned previously.

To this point, the “Professional Market” is a littlebit disappointing. For lots of the firms there it’s actually laborious to get infromation. However be assured, i gained’t quit simply !! Let’s go:

61. Orange Belgium

Because the identify says, this 745 mn EUR market cap inventory is the listed Belgium subsidiary of Orange Group, which owns 77% of the shares.

As many telcos, the inventory appears to be like low-cost however has been mainly taking place endlessly and carries a number of debt.

The corporate stopped paying dividends in 2022. That is clearly a inventory for buyers who can undergo. “Go”.

62. Fairness Banque Commerciale de Congo (Professional Market)

This attention-grabbing Professional Market inventory is certainly a Financial institution within the Republic of Congo, which was once a Belgian Colonial territory a few years in the past. it really trades every now and then, final time in Could 2023.

TIKR says it has a market cap of 30 mn EUR and trades at a P/E of two.

They really do have an IR website in french language with experiences. Nonetheless, the financial institution appears to have been merged with one other entity within the meantime and the experiences don’t give any info of what one share represents and if there are dividends.

If I might have extra time, this is able to be one thing humorous to dig in, however so I’ll “cross”.

63. Whitestone Group

Whitestone Group is a 28 mn EUR market cap funding firm. “It additionally invests in small and medium-sized enterprises. The corporate was previously referred to as EVADIX SA and altered its identify to Whitestone Group SA in September 2021. “

The inventory is flatlining since 4 years or so. In line with a company doc, there appears to have been a strategic transaction the place a brand new investor referred to as Multifin made an “in variety” fairness improve and have become the most important shareholder:

Undecided if that is actually attention-grabbing, however I’ll put them on “watch”.

64. D’ieteren Group

I’ve to confess that I’ve been trying ahead to dig into this Belgian, household owned Holdco with a market cap auf 10,5 bn EUR.

What we will see is that D’ieteren is clearly one of many extra profitable Holdcos:

Particularly within the final 4 years, the inventory was fairly on a run up.

D’ieteren runs a few enterprise, amongst others they’re the homeowners of Moleskin, a automobile distributor/Vendor in Belgium, PHE, a automobile spare elements distributor, TVH, one other elements distributor and eventually Belron, the most important enterprise which is a sequence of vehicle restore retailers specializing on windshields.

Particularly Belron is a big success through which they personal 50% they usually have grown the corporate considerably over the previous 20 years. An attention-grabbing element is that they employed Carlos Brito as CEO who used to run AmBev.

After the large share worth improve, the inventory is clearly not low-cost anymore, however they appear to personal some actually good companies, “watch”.

65. GIMV

GIMV is a 1,24 bn EUR market cap funding firm that invests both straight into non-public firms or by way of funds.

Trying on the lengthy tarm chart, worth creation is kind of restricted, nonetheless they appear to pay a big dividend:

They appear to have 5 completely different funding platforms/themes. Nonetheless their reporting is kind of complicated and the portfolio appears to be a bit of bit “overdiworsified”. The Flemish Governement appears to personal 28%. “Go”.

66. Inclusio SA

Inclusio is a 100 mn EUR market cap actual property firm that focuses on inexpensive and social housing. As lots of its actual property friends it has sen higher days. It trades at ~0.5x ebook worth however there may be debt and the Authorities of Belgium owns 27%. “Go”

67. BNP Paribas Fortis (Professional Markets)

This Professional MArket inventory really has traded in 2024. I assume that is one way or the other the rest of the a part of Fortis who has been taken over after the GFC by Fortis. i didn’t discover helpful infos on this inventory, “cross”.

68. Optimco (Professional MArket)

This inventory has final traded in 2023. Ot appears to be an insurance coverage, however I didn’t discover any monetary info. “Go”.

69. Miko

Miko is a 59 mn ERU market cap firm that reader of my weblog would possibly know. I used to personal the inventory however fortunately offered in 2020 as I used to be involved in regards to the Espresso distribution enterprise which had massive publicity to workplaces. Trying again, this was an excellent determination because the inventory went down considerably since then:

Miko, a majority household owned firm, used to run two phase, plastic packaging and low distribution, however they offered the plastic packaging in 2021 to a German competitor.

In 2023, they had been barely worthwhile and loaded up fairly some debt. The stopped to publish English experiences. I feel I’ll nonetheless “watch” however they’re clearly going by means of very troublesome occasions. Nonetheless, in the event that they get again wherever close to historic profitability numbers, the upside can be important.

70. Cumulex (Professional Market)

This can be a inventory that traded final in 2018. I really discovered investor info, however the firm has no gross sales and appears to be roughly an empty shell. “Go”.

71. Campine SA

Campine is a 100 mn EUR market cap firm that’s energetic in particular chemical compounds in addition to metallic recycling (Batteries).

The inventory chart exhibits an excellent improvement since Covid, with the replenish round 3x:

The corporate is owned 72% by the Hempel household. In line with the half yr report, Campine already made ~6,3 EUR EPS per share within the first 6 Months. The specialty chemical phase produces flame retardant materials which is one way or the other much like my earlier holding Nabaltec. I’m not certain how cyclical their enterprise is, however this appears to be like very attention-grabbing total. They’ve fairly first rate English reporting for such a small firm. “Watch”.

72. EMD Music (Professional Market)

This Professional Market inventory appears to be a designer and distributor of musical devices. The inventory traded final in 2018. The corporate really has an buyers website, however stopped publishing experiences in 2012. “Go”.

73. Basilix Cert

This 2 mn EU market cap firm in line with TIKR owns a shopping mall and is a subsidiary of KBC Group. “Go”.

74. ALME Make investments (Professional Market)

This Professional Market inventory traded final in 2021. I didn’t discover any info on the corporate. “Go”.

75. Compagnie Fonciere et Immobiliere Belgo Tunisienne NV (Professional Market)

This Professional Market inventory has really traded a couple of days in the past, the earlier commerce was in 2015. In line with the identify, it appears to be an actual property firm that has a hyperlink to Tunisia. I couldn’t discover a web site. “Go”.

76. Kabelwerk Eupen (Professional Market)

Kabelwerk Eupen is a inventory that really trades typically on the Professional market. Because the identify says, they produce Cables but in addition pipes made out of plastics.

The corporate itself doesn’t share any monetary info, which is sadly because the enterprise itself could possibly be attention-grabbing.. “Go”.

77. Eupen Finanz (Professional MArket)

Actually by coincidence, the random quantity generator picked one other firm from Eupen subsequent. This one traded final in 2015 and I used to be not capable of find an organization web site. “Go”.

78. Atenor

Atenor is a 272 mn EUR market cap actual property improvement firm that clearly has seen higher occasions:

They appeared to have made an enormous loss in 2023, cancelled the dividend and did a deeply discounted rights concern on the finish of the yr. “Go”.

79. Celyad Oncology SA

Celyad is a loss making biopharamaceutical penny inventory with a market cap of 15 mn EUR. “Go”.

80. Montea

Montea is a 1,6 bn EUR market cap actual property firm that makes a speciality of logistics parks. The inventory riced clearly additionally suffered, however doesn’t look distressed like different actual property gamers: