Rheinmetall AG : Soft Q3 2019e results to put Automotive guidance at risk again – Reduce maintained
>Soft Q3 2019e results ahead - Rheinmetall will report its Q3 2019 results on 07 November. Our Q3 2019 group estimates stand as follows: i/ sales: up 4% yoy to € 1,473m; ii/ op. earnings: down 10% yoy to € 88m (6.0% margin, down -90bp yoy), mainly attributable to the still-soft global light vehicle (LV) environment and weakness in the heavy truck business in Europe, which are weighing on the Automotive segment’s op. earnings. Note that our group op. earnings estimate ...Rheinmetall is a holding company. Through its subsidiaries, Co. operates in two sectors: defence and automotive. Co.'s defence sector is comprised of three divisions: combat systems, engaging in armored tracked vehicles and NBC protection systems; electronic solutions, engaging in air defence systems and soldier systems; and wheeled vehicles, engaging in wheeled logistics vehicles and wheeled tactical vehicles. Co.'s automotive sector is comprised of three division: mechatronics, engaging in cutting emissions and air management systems; hardparts, engaging in pistons and plain bearings and bushes; and motorservice, which includes aftermarket activities for replacement parts business.
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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