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Schaeffler AG : Q3 2019e likely to reflect ongoing q-o-q EBIT margin improvement, but 2020e industrial EBIT decline in prospect – Downgrade to Neutral
>Q3 2019e results likely to reflect q-o-q margin improvement on Auto OE - Schaeffler will report its Q3 2019 results on 5 November. We expect Q2 2019e group sales of € 3.6bn, reflecting a +0.9% y-o-y organic increase. Our Q3 2019e group sales estimate reflects a sequential improvement, but still negative for global LV production in Q3 2019e (IHS: -3.2% y-o-y) and sequentially softer industrial sales given a slowdown of global GDP growth. Our Q3 2019e group EBIT estima...
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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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