Sign in

    Kristof Samoy

    Senior Financial Analyst at KBC Securities

    Kristof Samoy is a Senior Financial Analyst at KBC Securities, specializing in equities research within the European industrials, infrastructure, and logistics sectors. He covers major listed companies including Royal Vopak NV, Arcadis NV, CMB.TECH, Tessenderlo, and Materialise, with a track record of providing actionable ‘buy’ recommendations such as for Arcadis NV at a target price of €51 and generating market-leading insights that have outperformed consensus, as seen in specifics like his projection for Tessenderlo’s first-half 2025 results beating forecasts by 19%. Kristof has been publishing analyst research at KBC Securities since at least 2018, and his career is marked by a consistent presence in Benelux and continental European equities analysis. He is based in Belgium and is a registered professional with the FSMA, supporting regulatory credentials relevant for securities research and recommendations.

    Kristof Samoy's questions to CMB.TECH (CMBT) leadership

    Kristof Samoy's questions to CMB.TECH (CMBT) leadership • Q2 2025

    Question

    Kristof Samoy from KBC Securities asked for details on the timing of post-merger refinancing, target LTVs, and covenant changes. He also questioned the potential impact of the U.S. presidential election on IMO greenhouse gas rules and the normalized quarterly SG&A run rate for the combined group.

    Answer

    CFO Ludovic Saverys confirmed that the major refinancing of the Golden Ocean and tanker fleets is complete, with covenants now based on value-adjusted equity. He noted that while SG&A will be lower than the current quarter's figure, it will take time to optimize costs. CEO Alexander Saverys addressed the IMO rules, stating the outcome is uncertain but customer interest in green-fueled ships has not diminished. Mr. Saverys added that stricter IMO rules would be a catalyst for long-term charter opportunities.

    Ask Fintool Equity Research AI

    Kristof Samoy's questions to CMB.TECH (CMBT) leadership • Q2 2024

    Question

    Kristof Samoy of KBC Securities inquired about the development timeline for the Namibian ammonia bunker facility, the charter status of the Newcastlemaxes with Fortescue, and the implications of Fortescue's recent green ammonia partnership with COSCO.

    Answer

    CEO Alexander Saverys detailed three Namibian projects: a local hydrogen station operational by year-end, an ammonia tank terminal with a Final Investment Decision (FID) expected in Q4 2024 or Q1 2025 for a 2028 delivery, and a longer-term ammonia factory project. He confirmed a couple of vessels are on short-term (max 1 year) consecutive voyage charters (CVCs) with Fortescue, but not the entire fleet. Regarding the Fortescue/COSCO deal, Saverys viewed it positively, stating that more industry investment in the ammonia supply chain benefits everyone and does not preclude future collaborations with CMB.TECH.

    Ask Fintool Equity Research AI

    Kristof Samoy's questions to CMB.TECH (CMBT) leadership • Q2 2024

    Question

    Kristof Samoy of KBC Securities inquired about the project timeline for the Namibian ammonia bunker facility, the charter status of the Newcastlemax vessels with Fortescue, and the implications of Fortescue's new partnership with COSCO on green ammonia vessels.

    Answer

    CEO Alexander Saverys detailed three Namibian projects, noting the ammonia tank terminal's Final Investment Decision (FID) is expected in Q4 2024 or Q1 2025 for a 2028 delivery. He confirmed a few Newcastlemaxes are on short-term (max one year) CVCs with Fortescue, not the entire fleet. Regarding the Fortescue-COSCO deal, Saverys viewed it as a positive industry development that validates the ammonia fuel strategy and does not preclude future collaboration, given the market's large scale.

    Ask Fintool Equity Research AI