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Hella GmbH & Co. KGaA : A strong set of Q1 2018-19 figures, but a challenging Q2 2018-19e lies ahead due to WLTP-related uncertainty – we remain Neutral
>Strong Q1 2018-19 figures imply a 30bp yoy step-up in the underlying group EBIT margin - Hella released above-consensus Q1 2018-19 figures: Group sales were up +10% yoy to € 1,787m, 1% ahead of our estimate (€ 1,769m) and even 3% above consensus. Adj. group EBIT rose to € 140m (7.8% margin, +10bp yoy), 5% ahead of consensus and even marginally ahead of our above-consensus expectation of € 138m (7.8% margin). Given that R&D expense as a percent of sales even increased...
Underlying
HELLA GmbH & Co. KGaA
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.
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