ElringKlinger AG : Q3 2020e results weaker on the top line, better on EBIT. We remain more cautious on top-line recovery going forward
>Q3 2020 sales weaker-than-expected, EBIT above expectations - Yesterday, ElringKlinger released Q3 2020 results. Q3 2020 group sales of € 381m (-8% y-o-y organic) fell short of our (€ 403m, -4% y-o-y organic) and the consensus expectation (€ 408m). In contrast, Q3 2020 group EBIT of € 19m (5.0% margin, +30bp y-o-y) beats both our (€ 12m, 3.1% margin) and the consensus estimate (€ 15m, 3.8% margin). The beat on group EBIT is driven by Automotive OE segment posting a...ElringKlinger is a holding company. Co., through its subsidiaries, is engaged in the manufacturing and supply of cylinder-head and specialty gaskets, plastic housing modules, thermal and acoustic shielding parts for engine, transmission and exhaust tract applications, exhaust gas purification systems and components for lithium-ion batteries and fuel cells. Alongside vehicle and engine manufacturers, Co.'s customer base includes numerous automotive suppliers, particularly in the field of turbochargers, exhaust technology and transmission engineering. Co.'s operating business is divided into five segments: Original Equipment, Aftermarket, Engineered Plastics, Services and Industrial Parks.
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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