Azelis Group NV

Azelis, based in Antwerp, is a global distributor of specialty chemicals and food ingredients, connecting producers with thousands of customers in markets such as personal care, food, coatings and pharmaceuticals, and adding technical formulation support through its own laboratories. That advice-led, capital-light model spreads risk across many suppliers and customers. Azelis has only a short dividend history since its 2021 listing and pays a modest payout while it invests and makes acquisitions to grow. A small, unproven yield defines its profile; the stock is bought mainly for growth in specialty distribution rather than for income.