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Schaeffler AG : Soft Q2 2020e group EBIT ahead; estimates and target price lowered
>Soft Q2 2020 group EBIT likely in clearly negative territory - Schaeffler is to report Q1 2020 results on 4 August. We expect Q2 2020e group sales of € 2,254m (-37% y-o-y, organic -38% y-o-y) as the second quarter was mainly characterised by plant shutdowns at Automotive OEMs in Schaeffler’s key regions Europe and North America. Due to a clearly double-digit y-o-y decline in group sales and q-o-q increasingly limited options for further cost-cutting with a timely im...
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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