Rheinmetall AG : Upbeat defence op. earnings in Q2 2020 and expecting an industrial solution; we upgrade to Buy
>Final Q2 2020 in line with consensus-beating preliminaries - Yesterday, Rheinmetall reported final Q2 2020 results in line with prelims as of 27 July. Note that prelim. Q2 2020 group op. earnings of € 36m (2.9% margin) came in markedly ahead of our estimate (-€ 20m, -1.7% margin) on upbeat defence sales growth feeding into op. earnings and more effective cost-cutting limiting operating losses in automotive. Final Q2 2020 group sales are at € 1,239m (-16% y-o-y) and ...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.