Rheinmetall AG : Strong Q2 2019 as expected, group sales growth now seen at lower end of range
>Strong Q2 2019 results above consensus as expected - Rheinmetall reported Q2 2019 group sales of € 1,471m (-2% y-o-y organic) in line with our estimate (€ 1,470m). Group op. result for Q2 2019e stands at € 109m (7.4% margin, +20bp y-o-y) and thus beat our upbeat expectation of € 98m (6.7% margin) and consensus (€ 93m) clearly as the operating result in defence came in clearly ahead of expectations while the automotive division was in line with our expectation but a t...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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