CIE Automotive : Solid results and improving momentum, upgrade to Outperform
>A solid Q3 and targets confirmed despite a difficult environment - CIE yesterday published a solid set of Q3 results which beat forecasts (EBITDA +5% vs our estimates and +9% vs consensus). Even though, unsurprisingly, business was down on a sequential basis (-4% for sales / -10% for EBITDA), CIE continues to outperform its market and has managed to limit damage to the margin enabling it to confirm its full-year targets, a laudable performance over what has been a d...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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