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Schaeffler AG : Q2 2020 ahead of expectations, but the recovery might not be as steep as the consensus assumes. Neutral rating maintained
>Q2 2020 results beat expectations - Yesterday, Schaeffler reported Q2 2020 results above our and the consensus expectations.Q2 2020 group sales came in at € 2,292m (-36% y-o-y, -35% organic) ahead of both our (€ 2,254m) and the consensus estimate (€ 2,204m). The marked decline in group sales y-o-y mainly reflects plant shutdowns at automotive OEMs in Schaeffler’s key regions Europe and North America. Q2 2020 group EBIT before exceptionals of -€ 150m (-6.5% margi...
Underlying
Schaeffler AG
Provider
Oddo BHF
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.
Harald Eggeling
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