Report

Rheinmetall AG : Strong Q4 2018e results ahead, but 2020 consensus looks stretched

>Q4 2018e results to reflect double-digit group operating margin - Rheinmetall will release prelim. 2018 results on 01 March; the full set of 2018 results and guidance for 2019 are due on 13 March. We expect the 2018 prelim. results to reflect a strong year-end with a double-digit Q4 2018e group EBIT (RHM definition) margin. Specifically, we estimate Q4 2018e group sales of € 1,983m (+15% yoy) and group EBIT (RHM, i.e. incl. at-equity results) of € 206m (10.4% margin,...
Underlying
Rheinmetall AG

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.

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Oddo BHF
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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