Heidelberger Druckmaschinen : Disappointing outlook indicates FY 2018-19 likely to be another “year of transition†/ Downgrade to Neutral
>Group sales slip -4% yoy despite two smaller acquisitions - Heidelberger Druckmaschinen (HDD) released audited figures for FY 2017-18 on 12 June, which confirmed the preliminary figures released on 08 May. At the group level, order intake was flat yoy at € 2,588m. Of this amount, an estimated € 35m was attributable to 7 “pay per use†subscription contracts. Regarding the sales slippage of -4% yoy to € 2,420m, management attributed this predominantly to i/ significant...Heidelberger Druckmaschinen is engaged as a provider for the printing industry. Co.'s operating activities are divided into three segments: Heidelberg Equipment, Heidelberg Services and Heidelberg Financial Services. Co.'s Heidelberg Equipment segment primarily comprises new machinery business. Services, consumables, spare parts and remarketed equipment business are included in Co.'s Heidelberg Services segment. Co.'s Heidelberg Financial Services segment comprises sales financing business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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