voestalpine : Q1 preview: profile remains resilient but little upside on valuation
>Set for a solid Q1 thanks to good volumes and relatively stable prices - Voestalpine is set to release its Q1 (to 30 June) earnings on 9 August. We are forecasting adjusted EBITDA of € 493m, down 13% on Q1 (€ 564m) and 3% below the Visible Alpha consensus (€ 509m). Given its entirely contract-based sales structure, the group is unlikely to benefit much from the spike in steel prices over the period. While quarterly contracts (c. 40% of sales) have been reset on more...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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