Report
FUCHS SE (pref) : Q1 EBIT in line with css; € 430m EBIT 2024 outlook (css € 442m) confirmed with Q3>Q2>Q1 and 4x Q1=€ 428m, looks conservative
>Flat volumes in Q1 2024 on fewer March working days (Q4 2023: c. 3%); organic sales declined by 3.5% y-o-y - Flat volumes in Q1 24 on lower March working days (Q4 2023: c. 3%) while organic sales declined by 3.5% y-o-y (ODDO BHF: -2%) on lower prices and -3% FX pushing sales down 6% y-o-y to € 877m (css/ODDO BHF € 903m). -3% y-o-y estimated price erosion mirrors raw materials pass-through clauses partially baked into contracts. The latter primarily reflects base oil...
Underlying
FUCHS PETROLUB SE
Provider
Oddo BHF
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.
Michael B. Schäfer
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