CIE Automotive : Solid Q4 results and guidance help ease some of our fears
>Solid Q4 and confident 2021 guidance in terms of profitability - CIE reported solid annual results that beat expectations for both sales and margins as well as FCF. For 2021, the group confirmed that it expects growth in line with the market (i.e. 2021 sales still around 8% below reported 2019 sales and ~15% below pro-forma sales), which we believe is fairly cautious. On the other hand, it was confident of rapidly returning to pre-crisis margin levels, with 2021 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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