Hella: Q1-18/19 first take
Hella: (NEUTRAL, Fair Value EUR51 (0%))Q1-18/19 first take
Hella posted solid Q1-18/19 sales and EBIT metrics thanks to good performance in Europe and in Asia on its Automotive segment. When looking only on Automotive segment, the group posted +10.7% of outperformance vs. market (+9.2% at group’s level) while margin increased by 30bp to 7.6% (+10bp to 7.8% at group’s level). It is important noting Q1 was boosted by good market perf. in Europe (in August notably), performance that will not be similar in September and Q2. The group is in advance on its 2018/19 targets. Positive.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.