Oddo BHF - HGEARS AG (HGEA) hGears : Toughing it out in 2024, hoping for a better 2025– Neutral reiterated

Report

Oddo BHF

Martijn Den Drijver

hGears : Toughing it out in 2024, hoping for a better 2025– Neutral reiterated

>Updating estimates, 2024 in line with guidance, minimal changes to 2025-2026 - We did not update our model after the full year results (apologies) and so we are doing that now. The effect is that despite the solid Q1 results, we are lowering our 2024 estimates, bringing them in line with the guidance provided in the 2023 results release. We now forecast sales of €106m (guidance €100m-€110m), EBITDA of €2m (guidance of €1-€3m) and negative FCF of €2.5m (guidance €0m t...

15/05/2024 1 EN

Underlying

HGEARS AG

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DE000A3CMGN3 Germany

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.

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Analysts

Martijn Den Drijver

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hGears : Toughing it out in 2024, hoping for a better 2025– Neutral reiterated

EQS-News: hGears AG Group: Annual General Meeting approves all agenda items

EQS-News: hGears AG Konzern: Hauptversammlung stimmt allen Tagesordnungspunkten zu

ODDO BHF Small & MIDCAP MORNING NEWS - 05/15/2024 Date Performance since listing Date Performance since listing

Oddo’s 2 Weeks Ahead_Friday 28 June 2024

Oddo’s 2 Weeks Ahead_Vendredi 28 Juin 2024

US real estate: price pressure cannot last

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