CALDEIRÃO DE BOLSA

Hagemeyer "buy"

Tuesday, November 15, 2005 5:44:50 AM ET
ING Financial Markets

LONDON, November 15 (newratings.com) - Analyst Marc Zwartsenburg of ING Financial Markets maintains his "buy" rating on Hagemeyer (HMY.ETR). The target price is set to €2.50.

In a research note published this morning, the analyst mentions that Hagemeyer has appointed John Logan as the CEO of the company’s operations in Ireland and the UK. John Logan is the former Director of DHL’s Ireland and UK operations and is likely to bring his knowledge of complex distribution processes, which Hagemeyer needs at present, ING Financial Markets adds.

Hagemeyer's New CEO For UK Unit Positive

Tuesday, November 15, 2005 3:53:30 AM ET
Dow Jones Newswires

0838 GMT [Dow Jones] Hagemeyer (35547.AE) recruits John Hogan as the new CEO for its UK operations. This appointment is positive, says Delta Lloyd Securities, as the turnaround of Hagemeyer UK is the most important trigger for Hagemeyer's share price. Notes Hogan has an impressive track record in international parcel, freight and logistics businesses.

Hagemeyer reaffirms H1, 2006 net profit forecasts; moots acquisitions - UPDATE
October 04,2005, 04:50 AM

(Updating with further targets, growth plans)

AMSTERDAM (AFX) - Hagemeyer NV still expects to achieve a profit at net level in the second half of this year and in the full year 2006, chief executive Rudi de Becker said.

Speaking during an analyst and investor day, the CEO also reiterated that, for the second half, Hagemeyer expects to achieve an operating profit before exceptionals of 'at least' 70 mln eur.

For its largest division, Professional Products & Services (PPS), Hagemeyer still targets an ROIC (return on invested capital) of 9 pct for 2007.

De Becker said that there is 'considerable further upside potential' for PPS, from 2008 onwards, which the company will achieve through further improving the division's 'operational basics' as well as though medium-sized acquisitions.

The CEO said Hagemeyer intends to increase PPS's organic revenue growth and share of the markets it is present in already, as well as improving gross margins and reducing the ratio of operating expenses to sales.

The company also plans further geographic expansion for PPS. It aims to expand operations in Central and Eastern Europe, where it already has a significant presence in Poland, the Baltic States, the Czech Republic and Russia.

In addition, operations in China and in other parts of Asia will be expanded, while it will also enter the Belgian and Italian markets as well as targeting further geographic expansion in North America, de Becker said.

[Dow Jones] October 05, 2005
ING Wholesale is increasingly confident Hagemeyer (35547.AE) can turn its UK business around by taking the German restructuring model as an example. Sees further upside potential in margin expansion. Welcomes management repeating financial outlook for this and next year at Munich investors day. Maintains buy rating.