Rheinmetall AG : FY 23 print in line – FY 24 operating profit guidance 3.5% ahead of consensus
>FY 23 print pretty much in line with estimates - At first glance, FY 2023 results came in broadly in line with expectations with operating results at € 918m (Vara Consensus: € 922.8m) for sales of € 7,176m, up by 10.6% l-f-l, representing a margin of 12.8% (+80bp). EBIT pre PPA reached € 968m. As a reminder, about € 0.4bn of sales have been pushed into FY 24 in trucks and weapon & ammunitions. Operating margins in the various segments were also broadly in line with e...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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