Continental : No surprises in Q1 but visibility still lacking
>Q1 figures already largely known, but uncertainty still dominates - Q1 2020 earnings produced few surprises with the group having already made two preliminary announcements (the earnings were in the end better than initially expected/disclosed) and recently postponed the spin-off of Vitesco (powertrain business) to 2021. Given this, attention focused on the outlook/cost reductions (-5% targeted in fixed costs in the next nine months). However, like its peers, the ma...Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
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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