CIE Automotive : Good Q1 and 20212 guidance increased
>Good Q1 2021 in line with our forecasts but above the consensus - CIE’s Q1 sales came in at € 874m, +6.3% y-o-y (12.4% organic, with a FX impact >6 ppt due mainly to the Brazilian real, USD and Indian rupee), in line with our estimates (€ 876m) but higher than the consensus compiled by the company (€ 865m). EBITDA came at € 157m, i.e. a margin of 18.0% (+90bp y-o-y), also in line with our forecasts (€ 156m) and above the consensus (€ 149m). The same was true of EBIT ...CIE Automotive is the parent company of an industrial group formed by several companies that are engaged in the design, manufacture and sale of automobile component and sub-units on the world market. In addition, Co. is also engaged in the bio-fuels business which is in the initial stages of development and is made up of various companies devoted to the production and distribution of bio-fuels.
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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