Added to YB: 2024-08-16
Pitch date: 2024-08-15
HAL.AS [bullish]
HAL Trust
+48.98%
current return
Author Info
Bos Invest is a Dutch investor using fundamental analysis and a total return approach. Sign up for their newsletter.
Company Info
HAL Trust, together with its subsidiaries, operates through multi-sectors in Asia, the Middle East, the Netherlands, the United States, Canada, and internationally.
Market Cap
EUR 14.6B
Pitch Price
EUR 109.01
Price Target
196.00 (+21%)
Dividend
2.17%
EV/EBITDA
5.13
P/E
10.20
EV/Sales
1.32
Sector
Financial Services
Category
value
New buy: Hal Trust, a great Dutch holding finally trading at a sufficient discount
HAL.AS: Dutch holding co. trading at discount. Owns 100% Boskalis (marine/dredging, valued at €8.5B), listed stakes worth €3.8B (Vopak, Safilo, SBM Offshore, Technip), unlisted worth €4.1B. €1B net cash. SOTP €17.7B vs €10.1B market cap. Undervalued due to Boskalis performance, dividend policy change. Attractive given mgmt track record, maritime sector outlook.
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