Zardoya Otis : H1 2021 in line with expectations overall but raw materials weighed on the EBITDA margin in Q2
>H1 showed a sharp recovery in new installations and higher raw materials and components costs - Yesterday evening after the close Zardoya Otis reported H1 results (to 31 May 2021).H1 earnings were slightly higher than our estimate, boosted by a sharp rebound in new equipment in Q2.Orders were down 5.4% in H1 (of which +15.4% in Q2). Sales grew 3.8% (ODDO BHF estimate: +1.3%) of which 9% in Q2.By segment, the rebound at this stage is coming above a...Zardoya Otis and its subsidiaries are engaged in the manufacture and installation of elevators, the provision of related maintenance services, and export of equipment for its installation abroad.
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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