ElringKlinger AG : We expect a challenging H2 2020e and its regional exposure to weigh on 2021e recovery; Reduce rating maintained
>Soft Q2 2020e ahead due to marked exposure to Europe and NAFTA - ElringKlinger will report Q2 2020 results on 7 August. We expect ElringKlinger to report Q2 2020e group sales of € 251m (-42% y-o-y) on the back of plant shutdowns at Automotive OEM customers in ElringKlinger’s core regions Europe and NAFTA (2019: 78% of group sales). Due to a likely marked double-digit y-o-y decline in group sales, and assuming some mitigating effects from Aftermarket business, we...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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