Report
hGears : Q3 very weak but not real surprise given profit warning
>Sales and adj, EBITDA miss estimates by a mile - hGears Q3 2024 sales missed our estimate by 17% driven by the e-bike business which saw sales slump by 82% versus Q3 of 2023. The gross profit came in at €10.9m or a miss of 12% with the margin at 49.3% which is actually better than assumed (46.4%). Adj. EBITDA, due to the lower absolute gross profit and despite the cost optimisations and ongoing savings programmes, came in at a loss of €0.1m where we had anticipated ...
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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