Voestalpine : L’atteinte de la guidance annuelle est peu probable selon nous
>Un T2 2019 encore plus difficile que le T1 pour Steel Division - Pour la division Steel (42% de l’EBITDA 2018-19), le T2 devrait être en baisse : 1 / en raison de la saisonnalité (baisse des volumes) ; 2 / d’un prix réalisé légèrement inférieur séquentiellement (les ventes sous contrats limitent la baisse) et 3 / des coûts d’intrants nettement plus élevés (décalage de 4/5 mois) en raison notamment de la hausse du prix du minerai de fer. La bonne nouvelle est que le p...voestalpine is engaged in the production, processing, and distribution of materials made of steel and in research and development in the areas of metallurgy, metal processing, and materials technology. Co.'s steel division focuses on the production and processing of flat steel products. Co.'s special steel division is involve in tool steel and high-speed steel. Co.'s metal engineering division is engaged in turnout technology, rails and treated wire, and tubes. Co.'s metal forming division is involve in tube products and precision strip steel as well as pre-finished system components. Co.'s other activities include heavy plate production, a foundry, and a number of downstream processes.
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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