Report
hGears : One swallow does not make a summer
>Near term uncertainty continues, Neutral, pt to €9 ps - Although the 3rd quarter was positive in the sense that it beat our expectations on E-mobility sales, gross margin, EBITDA and EBITDA margin, the outlook for 2023 remains uncertain. Geopolitical uncertainty, rising energy prices, rising interest and mortgage rates have or are expected to impact demand for E-bikes in Europe and North America while the E-tools market is hit by weakening construction markets and a ...
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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