Added to YB: 2024-08-16
Pitch date: 2024-08-15
HAL.AS [bullish]
HAL Trust
+58.7%
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 Europe, the United States, Canada, Asia, and internationally.
Market Cap
EUR 15.2B
Pitch Price
EUR 109.01
Price Target
196.00 (+13%)
Dividend
2.08%
EV/EBITDA
5.40
P/E
9.52
EV/Sales
1.30
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.
Read full article (9 min)