Kendrion - Price increases largely drive revenue growth
Kendrion’s Q223 organic revenue growth of 9% was better than the 5% in Q1 despite the slowdown in economic activity in several regions. Gross margin remained under pressure due to cost increases. EBITDA increased slightly year-on-year in Q2 after a decline in Q1, as cost savings offset wage inflation. Despite the short-term uncertainties, Kendrion is positive about its orderbook, which is driven by electrification and clean energy trends. On lower margin estimates, the average of our valuation methods points to a value of €21.5 per share.Kendrion develops, manufactures and markets high-quality electromagnetic systems and components. Co.'s electromagnets are used all over the world in products such as lifts, door locking systems, industrial robots, medical equipment, electrical switchbox systems, diesel engines and airconditioning systems. Co.'s activities are performed in four business units: Industrial Magnetic Systems, Industrial Drive Systems, Passenger Car Systems and Commercial Vehicle Systems.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
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.