voestalpine : Resilient profile despite high auto exposure
>Good Q1 results thanks to heavy plates and rail systems - Q1 earnings (to 30 June) reported last week were decent with EBITDA at € 417m, 3% below the consensus leaving aside one-offs (€ 28m impairment on tool steel unit Buderus). The drop on Q4 is just 8% ex-one-offs despite much lower seasonality. Thanks to its position on high-value-added products, the group was able to maintain high selling prices rather than seek to boost volumes artificially. It was also helped ...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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