Continental : Preliminary results confirm a strained Q2 in automotive, less so for rubber
>Preliminary results made necessary by the overly dispersed consensus - Continental reported preliminary Q2 2020 results yesterday evening that were close to our expectations overall but broadly better than the overly dispersed consensus. We note however a better performance than we expected in Rubber (adj. operating margin of 1.2%), as had seemed to take shape in the last few weeks, which offsets more negative operating leverage in the automotive part (adj. operating...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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