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As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 10 names we followed last week, follow the link below.
Given that the EV market is not a free market, led by demand and supply, but a distorted market, moved by political intervention in the form of subsidies (or lack of), making EV sales forecasts is very challenging indeed. This is a headache for analysts, but even more so for auto companies with a ten-year planning horizon. In this report, we outline the sales situation for different regions, as well as providing an outlook based on currently available information.
De la conference call Rdos. 4T’24 destacamos:
Entorno: La curva alemana sigue positivizando progresivamente
4Q'24 vs. 4Q'23 Results Sales: € 258.1 M (+17.4% vs. +12.2% BS(e) and +13.5% consensus); EBITDA: € 50.4 M (+40.8% vs. +29.9% BS(e) and +24.6% consensus); EBIT: € 15.0 M (+177.8% vs. +113.0% BS(e) and +172.2% consensus); Net Profit: € 0.2 M (€ -52.1 M in FY2023 vs. € 2.5 M BS(e) and € 7.9 M consensus); FY2024 vs. FY2023 Results Sales: € 985.7 M (+10.2% vs. +8.9% BS(e) and +9.2% consensus); EBITDA: € 192.6 M (+10.6% vs. +8.4% BS(e) and +7.3% consensus); EBIT: € 53.5 M (+7.4% vs. +0.4% BS(e) and +6.8% consensus); Net Profit: € 10.1 M (€ -38.5 M in FY2023 vs. € 12.4 M BS(e) and € 17.8 M consensus)...
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