Report
Hella GmbH & Co. KGaA : Soft Q4 2019-20e ahead – estimates and target price lowered
>Final Q3 2019-20 results in line, 9M 2019-20 op. FCF at +€ 178m - Yesterday, Hella reported final Q32019-20 (ending 29-February) results in line with preliminary results c.2 weeks ago. Q3 2019-20 group sales came in at €1,535m (-5% y-o-y, organic -5% y-o-y), thus outperforming global LV production in Q3 2019-20 (IHS: -9% y-o-y). Adj. group EBIT for Q3 2019-20 declined 21% y-o-y to €90m (5.8% margin, -30bp y-o-y) on the back of a lacklustre to -line and less cost...
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.
Harald Eggeling
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