Board Change • Jun 24
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Observer Floris Halder is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Declared Dividend • May 20
Dividend of €0.16 announced Shareholders will receive a dividend of €0.16. Ex-date: 29th June 2026 Payment date: 1st July 2026 Dividend yield will be 1.5%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (49% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 66% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Observer Floris Halder is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Tillkännagivande • Apr 30
Gimv Anchor Investments acquired 5% stake in Azelis Group NV (ENXTBR:AZE). Gimv Anchor Investments acquired 5% stake in Azelis Group NV (ENXTBR:AZE) on April 30, 2026.
Gimv Anchor Investments completed the acquisition of 5% stake in Azelis Group NV (ENXTBR:AZE) on April 30, 2026. Tillkännagivande • Feb 19
Azelis Group Nv Proposes Dividend for the Year Ended 31 December 2025, Payable on 1 July 2026 Azelis Group NV Board proposed to pay out a dividend of EUR 0.226 per share for the year ended 31 December 2025. 27 June 2026 is the Ex-dividend date, 30 June 2026 is the Dividend record date, and 1 July 2026 is the Dividend payment date. Tillkännagivande • Jul 10
Azelis Group NV (ENXTBR:AZE) acquired Azienda Chimica E Farmaceutica S.r.l. In Breve A.c.e.f. S.r.l. Azelis Group NV (ENXTBR:AZE) acquired Azienda Chimica E Farmaceutica S.r.l. In Breve A.c.e.f. S.r.l. on July 9, 2025.
Azelis Group NV (ENXTBR:AZE) completed the acquisition of Azienda Chimica E Farmaceutica S.r.l. In Breve A.c.e.f. S.r.l. on July 9, 2025. Tillkännagivande • Apr 07
Azelis Group NV (ENXTBR:AZE) acquired Solchem Nature Sl. Azelis Group NV (ENXTBR:AZE) acquired Solchem Nature Sl on April 7, 2025. The acquisition aligns with Azelis’s strategy as it focusses on a targeted business that supports growing its market share in Spain, adding expertise to its EMEA-wide nutraceutical platform.
Azelis Group NV (ENXTBR:AZE) completed the acquisition of Solchem Nature Sl on April 7, 2025. Tillkännagivande • Mar 15
Azelis Group NV (ENXTBR:AZE) announces an Equity Buyback for 50,000 shares, for €1 million. Azelis Group NV (ENXTBR:AZE) announces a share repurchase program. Under the program, the company will repurchase up to 50,000 shares, for €1 million worth of its shares. The shares repurchased will be used to cover company's Long-Term Incentive Plan. The repurchased shares will be held as treasury shares. The program will expire on May 31, 2025. Tillkännagivande • Nov 19
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Haarla Oy from J. Haarla Group Oy. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Haarla Oy from J. Haarla Group Oy on November 18, 2024. This is subject to fulfillment of customary closing conditions. The transaction is expected to close by the end of 2024. Tillkännagivande • Sep 27
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire HORTIMEX Sp. z o.o. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire HORTIMEX Sp. z o.o. on September 26, 2024.
The transaction is subject to fulfilment of customary transaction conditions and is expected to close in the fourth quarter 2024. Tillkännagivande • Jun 15
Azelis Group NV Approves Gross Dividend, Payable as of July 2, 2024 Azelis Group NV announced that at the AGM approved for the fiscal year 2023 the payment of a gross dividend of (rounded) €0.22 per share, net (rounded) €0.15 per share after deduction of Belgian withholding tax of 30% . The ex-dividend date will be June 28th, 2024, record date July 1st, 2024, and the dividend (coupon no. 3) will be payable as of July 2nd, 2024, via their paying agent KBC Bank NV. Tillkännagivande • May 09
Azelis Group NV Announces Directorate Resignations, Effective June 16, 2024 Azelis Group NV announced resignation of Mr. Antonio Trius as independent director and chair of the Board of Directors on 19 April 2024 effective as of this general shareholders' meeting and resignation of Mrs. Alexandra Brand as independent director on 19 April 2024 effective as of this general shareholders' meeting. Tillkännagivande • Mar 30
Azelis Group NV (ENXTBR:AZE) agreed to acquire PT Marga Dwi Kencana. Azelis Group NV (ENXTBR:AZE) agreed to acquire PT Marga Dwi Kencana on March 28, 2024. The transaction is expected to close in the second quarter of 2024, after fulfillment of customary closing conditions. Tillkännagivande • Mar 12
Azelis Group NV (ENXTBR:AZE) announces an Equity Buyback for 130,000 shares, for €2.8 million. Azelis Group NV (ENXTBR:AZE) announces a share repurchase program. Under the program, the company will repurchase up to 130,000 shares, for €2.8 million worth of its shares. The shares repurchased will be used to cover company's Long-Term Incentive Plan. The repurchased shares will be held as treasury shares. The program will expire on May 31, 2024. Tillkännagivande • Mar 07
Azelis Group NV Proposes Dividend for the Year Ended December 31, 2023, Payable on July 2, 2024 Azelis Group NV proposed a dividend of EUR 53.3 million, representing 30% of distributable net profit, and implies EUR 0.22(rounded) dividend per share for the year ended December 31, 2023. Ex-dividend date is June 28, 2024. Dividend record date is July 1, 2024. Dividend payment date is July 2, 2024. Tillkännagivande • Dec 15
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Localpack S.A. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Localpack S.A. on December 14, 2023. The transaction is subject to certain customary closing conditions and is expected to close early in the first quarter of 2024. Tillkännagivande • Nov 11
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Agspec Australia Pty Ltd. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Agspec Australia Pty Ltd on November 9, 2023. Founders of Agspec, Jonathon Lillecrapp and Andrew Glynn,will remain with the company to ensure a seamless transition. The transaction, after fulfilment of customary closing conditions, is expected to close in Q1 2024. Tillkännagivande • Oct 23
Azelis Group NV (ENXTBR:AZE) agreed to acquire BLH SAS. Azelis Group NV (ENXTBR:AZE) agreed to acquire BLH SAS on October 23, 2023. The acquisition strengthens Azelis’ global footprint in flavors & fragrances, which was created over the last two years following the acquisition of Quimdis in France, Vigon in America and Ashapura in India. Experts in the distribution of premium fragrance ingredients, BLH’s attractive portfolio perfectly complements the current natural ingredient ranges offered by Azelis. The transaction is expected to close in November. Reported Earnings • Aug 04
First half 2023 earnings released: EPS: €0.44 (vs €0.59 in 1H 2022) First half 2023 results: EPS: €0.44 (down from €0.59 in 1H 2022). Revenue: €2.14b (up 6.1% from 1H 2022). Net income: €103.5m (down 26% from 1H 2022). Profit margin: 4.8% (down from 6.9% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Trade Distributors industry in the United Kingdom. Upcoming Dividend • Jun 14
Upcoming dividend of €0.19 per share at 1.3% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (2.0%). Tillkännagivande • Jun 09
Azelis Group NV Approves Dividend for the Fiscal Year 2022, Payable as of 23 June 2023 Azelis Group NV at its Annual General Meeting held on June 8, 2023, approved the payment of a gross dividend of €0.2782 per share, net €0.1947 per share after deduction of Belgian withholding tax of 30% for the fiscal year 2022, compared to €0.03 per share for 2021 (net €0.02). The ex-dividend date will be 21 June 2023, record date will be 22 June 2023 and the dividend (coupon no. 2) will be payable as of 23 June 2023 via the company’s paying agent KBC Bank NV. Tillkännagivande • May 30
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Sirius International Water Treatment B.V. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Sirius International Water Treatment B.V. on May 30, 2023. Tillkännagivande • May 18
Azelis Group NV has completed a Follow-on Equity Offering in the amount of €199.999985 million. Azelis Group NV has completed a Follow-on Equity Offering in the amount of €199.999985 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,075,566
Price\Range: €19.85
Transaction Features: Rule 144A; Subsequent Direct Listing Tillkännagivande • May 17
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Gillco Ingredients. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Gillco Ingredients on May 16, 2023. All of Gillco’s staff are expected to transition to Azelis, and Bill Gillies will remain with Gillco to ensure a seamless transition. The transaction is expected to close in the second quarter of 2023, after the fulfilment of customary closing conditions. Tillkännagivande • May 12
Azelis Group NV Provides Earnings Guidance for the Full Year 2023 Azelis Group NV provides earnings guidance for the full year 2023. For the year, the company remains confident of delivering on its midterm guidance of achieving annual revenue growth of 8% to 10%. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: €0.91 (vs €0.29 in FY 2021) Full year 2022 results: EPS: €0.91 (up from €0.29 in FY 2021). Revenue: €4.12b (up 46% from FY 2021). Net income: €213.2m (up 215% from FY 2021). Profit margin: 5.2% (up from 2.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Trade Distributors industry in the United Kingdom. Tillkännagivande • Jan 25
Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Lidorr Chemicals Ltd. Azelis Group NV (ENXTBR:AZE) signed an agreement to acquire Lidorr Chemicals Ltd on January 24, 2023. With this acquisition, Azelis significantly strengthens its presence and expertise with a team of 90 employees, including 35 technical sales experts, serving over 400 customers in Israel. Tillkännagivande • Jan 11
Azelis Group NV (ENXTBR:AZE) acquired Smoky Light B.V. Azelis Group NV (ENXTBR:AZE) acquired Smoky Light B.V. on January 10, 2023. The acquisition reinforces Azelis’ position in the Benelux market and expands its footprint in the smoke ingredient market in EMEA. Smoky Light’s portfolio of products strategically complements the group’s lateral value chain for the food & nutrition market, thereby further expanding its expertise and product offering to customers. Smoky Light is managed by Ahrend Buckers, who will continue to lead the business and support the integration into Azelis.Azelis Group NV (ENXTBR:AZE) completed the acquisition of Smoky Light B.V. on January 10, 2023. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Ipek Ozsuer was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Buying Opportunity • Oct 26
Now 21% undervalued Over the last 90 days, the stock is up 9.3%. The fair value is estimated to be €28.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 48% over the last year. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Reported Earnings • Aug 10
First half 2022 earnings released First half 2022 results: Net income: (down €46.2m from profit in 1H 2021). Buying Opportunity • Jun 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be €26.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Observer Audinga Besusparyte was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Observer Audinga Besusparyte was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 16
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.29 (up from €0.06 in FY 2020). Revenue: €2.84b (up 28% from FY 2020). Net income: €67.8m (down 4.5% from FY 2020). Profit margin: 2.4% (down from 3.2% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 13%, compared to a 6.4% growth forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 22% share price gain to €19.20, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 18x in the Trade Distributors industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at €17.12 per share. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €17.78, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 18x in the Trade Distributors industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at €17.03 per share. 
