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Schaeffler AG : Better-than-expected Q1 2019 – we maintain our Buy rating
>Q1 2019 EBIT pre special items a touch above expectations - Schaeffler released its Q1 2019 results yesterday (08 May). Group sales came in at € 3,622m (+2% yoy, +0.4% organic), ahead of our estimate (€ 3,566m, -0.8% yoy organic) and consensus (€ 3,552m, -0.8% yoy organic) due to a higher-than-expected (500bp) outperformance vs global LV production in automotive OE. We had expected an outperformance of 300bp. Group EBIT pre special items, at € 272m (7.5% margin), als...
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Schaeffler AG
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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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