Report
Schaeffler AG : 2019 sales and EBIT guidance cut as expected – FCF guidance robust
>Q2 2019 EBIT pre special items up qoq as expected - Schaeffler reported Q2 2019 group sales of € 3,604m (-2% yoy organic) in line with our expectation (€ 3,610m), reflecting i/ the outperformance of automotive OE’s organic sales (1e4.2% yoy) vs a soft global LV production environment (-7.5% yoy) on strong growth in Americas, although the outperformance was less than expected (330bp vs 400bp expected); ii/ ongoing destocking in the European independent aftermarket on c...
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.
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