Encavis AG : Sale of minority stakes in wind power projects and increase in the guidance. Buy recommendation and target price of € 7.70 maintained
>Strong growth in Q1 earnings, as expected - Encavis reported its Q1 2019 results yesterday morning. Earnings were up strongly, in line with our estimates and the consensus forecasts. Sales came to € 59.5m (ODDO BHF at € 59.0m and consensus € 57.8m), up 30% vs Q1 2018, EBITDA to € 44.7m (ODDO BHF and consensus at € 43.6m), up 42%, and recurring EBIT to € 23.4m (Oddo BHF at € 23.2m and consensus at € 22.4m), up 73%. The group’s EPS amounted to € 0.05 vs € 0.0 in Q1 20...Capital Stage is an investment company based in Germany. Co. is engaged in investing in small and medium sized enterprises.
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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