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hGears : E-bike downturn depresses earnings in H1 23
>Profitability under pressure due to lower volumes - hGears will publish H1 2023 results on August 7. Given the downturn in the E-bike market as well as the headwind in E-tools, we forecast sales of €54.8m, down from €70.9m in H1 2022. Due to the negative operational leverage (lower volume) and mix effect (E-mobility has higher EBITDA margins than E-tools and Automotive conventional), we forecast an H1 2023 EBITDA of €2.7m or a margin of 5.3% versus €8.2m in H1 2022 (...
Underlying
HGEARS AG
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.
Martijn Den Drijver
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