Azelis bounces back on strong free cash flow generation after IMCD results weighed

Azelis NV

19/02/2026 09:34

** Shares of Belgium-based Azelis Group NV AZE.BR jump 6% after it posted strong annual free cash flow generation, recovering some of Wednesday's 8% decline that followed weak results from peer IMCD IMCD.AS

**  KBC analyst Thibault Leneeuw finds its "a combination of three components": the multiple compression over the past year, yesterday's drop due to IMCD results, and today's focus on what he called "strong" free cash flow generation

** Its free cash flow generation rose 29% to 442 million euros ($521.65 million)

** He added the cash flow generation is not appreciated and highlights that the company tends to have 50% higher free cash flow conversion compared to peers

** Brokerage Jefferies says shares are trading at a 43% discount to its historical valuation

($1 = 0.8473 euros)

 (Reporting by Hugo Lhomedet)

 ((hugo.lhomedet@thomsonreuters.com))