Rheinmetall AG : 2019 guidance cut reflects necessity to reconsider political risks for Defence
>Q3 2019 group operating result above expectations - Yesterday, Rheinmetall reported Q3 2019 group sales of € 1,481m (+5% yoy, +2% yoy organic) ahead of our (€1,473m) and the consensus estimate (€ 1,468m) as stronger-than-expected defence sales offset disappointing Automotive sales. Q3 2019 group operating result came in at € 99m, reflecting a 20bp yoy margin decline to 6.7%, as the margin decline for Automotive was too pronounced to be offset by a margin expansion in...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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