Schoeller Bleckmann : AMS weighs on the composition of results
>Outperform, target price € 54 - Following the earnings release and the conference call, we have very marginally adjusted our 2024-2026e EBITDA forecast. International momentum via AMS business is showing signs of an inflection (destocking, pressure on prices, etc.). The decline in the EPS estimates at the group level is due solely to adjustments for this division.The aim to ramp up on new businesses should be clarified in early 2025 and could materialise through...Schoeller-Bleckmann Oilfield Equipment is engaged as a producer of high precision components and a supplier of oilfield equipment for the oilfield service industry. Co. focuses on non-magnetic drillstring components (non-magnetic drill collars) and downhole tools for drilling and completing directional and horizontal wells. The High Precision Components segment consists of the manufacturing of MWD (Measuring While Drilling) and LWD (Logging While Drilling) precision drillstring components. The Oilfield Equipment segment comprises production and distribution of non-magnetic drill collars, drilling motors and tools for downhole circulation applications, repair and maintenance services.
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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