Vitesco : More timorous-than-expected start to the year
>Timorous start to the year on EBIT and FCF but FY targets confirmed - Vitesco reported Q1 earnings below expectations (in particular excluding positive one-offs), notably penalised by inflation pending expected customer compensation (as of Q2 according to management) but also by still high losses in the Electrification business (-€ 72m). Moreover, FCF was also more negative than expected (-€ 41m vs consensus of -€ 11m) due to stronger headwinds on working capital (in...
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