Rheinmetall AG : Q1 preview – much ado about some minor deferrals
>Fairly slow start to the year - Rheinmetall’s Q1 2023 figures, due on 4 May, are set to show a fairly slow start compared to the full-year guidance. However, as with all military activities, Q1 is typically the smallest quarter of the year (contribution of only c11% to full-year EBIT), which puts this into perspective. We forecast operating profit of € 90.1m (-2.1%) on sales of € 1.4bn (+11.4%), or a margin of 6.4% (-88bp). Looking beyond the deferral of some contra...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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