Welcome to KBC Securities

We believe banking is a craft, not an art or a science. As the integrated Equity House of KBC Group, we combine specialist expertise, skill and personal commitment to bring lasting value to our clients and people.

More about us


Our services

Collapse research area

Latest research

Benelux Company Flash: Sector Flash 21.10.2016: DUTCH LIFE INSURANCE: TIME TO DIFFERENTIATE21 oct 2016

While Dutch insurers trade at similar FCF yields, valuation disparities are large after adjusting for differences in capital structure and releases of required capital. On this basis, NN’s valuation looks highly attractive at ...

Benelux Morning Note21 oct 2016

Ablynx: Webcast and yesterday’s AbbVie update Arcadis: Preview 3Q16 Corbion: 3Q : weak top line, strong EBITDA Deceuninck: 3Q revenue +0.9% IO&W: Redevelops Herentals Logistics 3 Jensen-Group: Downgrade on valuation Ora ...

Benelux Sector Flash: Feedback Maritime Conference - KBC Securities Sector Note 20.10.201620 oct 2016

Feedback Maritime Conference We organized our yearly KBC Maritime Conference in London on 6 October 2016. Participating companies were Boskalis Westminster, Euronav, Exmar, Fugro, SBM Offshore and Vopak. We noticed a ge ...

Benelux Morning Note20 oct 2016

Ablynx: No opt-in for voba at this point by AbbVie Atenor: New investment in European Quarter of Brussels Fugro: Convertible placed and feedback conference call KPN: Tele2 reports decent results in the Neths Philips Light ...

Benelux Morning Note19 oct 2016

Akzo Nobel: 3Q EBIT +1%, rather uninspiring quarter Barco: 3Q16 : good performance in Entertainment Fugro: € 150m subordinated convertible and trading update Randstad: 3Q16 preview - All eyes on US Staffing

TELECOM: Quad-play reshuffle in full swing18 oct 2016

This sector note 1) outlines our expectations ahead of the Q3 reporting season, 2) assesses the potential impact of the Belgian tax reform (last week, the federal gov’t has relegated the corporate tax rate reduction to furthe ...

Benelux Morning Note18 oct 2016

Biocartis: € 2.5m grant to support manufacturing expansion Elia Group: BNetzA sets CoE for next regulatory period KPN: Meticulous cost savings set to bear fruit Philips Lighting: 3Q16 preview Telecom: Quad-play reshuffle ...

ECONOCOM: 10% l/l growth in Q3, guidance confirmed17 oct 2016

L/l growth accelerated to a strong 10% l/l in Q3, from 5% in H1. This is ahead of our 8.5%E, although the beat was of lower quality vs. expectations (higher distribution). Management reiterated its FY16 and FY17 guidance as w ...