Kendrion : More self-help than assumed but recovery a bit pushed out
>Q3 results mixed to positive - The Q3 results were mixed to positive. Industrial did better than expected in terms of sales (growth in IB and flat in IAC) but the Residual automotive part was impacted by a negative development in Sound and Fuel controllers with good but not great growth in Automotive China. Positive was that the EBITDA margin came in materially higher than anticipated (12.1% vs 10.5%). In the analyst call CEO van Beurden indicated that some projects ...Kendrion develops, manufactures and markets high-quality electromagnetic systems and components. Co.'s electromagnets are used all over the world in products such as lifts, door locking systems, industrial robots, medical equipment, electrical switchbox systems, diesel engines and airconditioning systems. Co.'s activities are performed in four business units: Industrial Magnetic Systems, Industrial Drive Systems, Passenger Car Systems and Commercial Vehicle Systems.
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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