SAF-HOLLAND SA : We expect a 2019 group adj. EBIT margin at the lower end of guidance
>We forecast a Q2 2019e adj. EBIT margin of 7.3% - SAF-Holland is to report Q2 2019 results on 8 August. We expect Q2 2019e group sales of € 353m (-4% y-o-y organic) in a tougher environment in the EMEA region due to a demanding comparison base in 2018 and a still challenging context in China due to trade tensions. Our Q2 2019e group adj. EBIT estimate stands at € 26m (margin of 7.3%). This mainly reflects solid AM business in EMEA with a stabilising earnings impact,...SAF Holland is engaged in inno vation and technology. Co.'s operations can be divided into three segments: Trailer Systems, Powered vehicle Systems and Aftermarket. Through the Trailer Systems segment, Co. produces axle systems, suspension systems, kingpins, and landing legs for the trailer industry. Through the Powered Vehicle Systems, Co. generates its sales primarily with fifth wheels and air suspension systems for manufacturers in the truck industry. The Aftermarket segment covers the replacement parts business in which Co. relies on a worldwide service network, partly in cooperative agreements with truck manufacturers.
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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