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hGears : Lower demand and destocking prompts profit warning
>Our cautious estimates (below guidance) were not cautious enough - Yesterday evening hGears issued a press release in which it adjusted 2023 guidance. Due to a meaningful reduction in orders (caused by ‘dampened customer demand’ and ongoing destocking) in E-Tools and E-mobility, the company is now guiding for sales of €115m-€123m (was €129m-€137m), adjusted EBITDA of €5m-€9m (was €12m-€15m) and FCF of €9-€12m negative (was €6-€9m negative). Despite hGears beating con...
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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