Concerning 2019 guidance: With current spot rates, FX is estimated to have a somewhat negative impact on the 2019 adjusted EBIT. On top of this, the impact from raw materials and tariffs is estimated at €100m in 2018 and for 2019 there will still be a headwind but less than in 2018. Overall, we guesstimate a further contraction to the 2019 EBIT. We will therefore adjust our forecasts, which should result in a lower target price but an unchanged recommendation.
25 Sep 2018
2018 CMD: weak 2019 guidance reading between the lines
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2018 CMD: weak 2019 guidance reading between the lines
Kone Oyj Class B (KNEBV:HEL) | 0 0 1.2% | Mkt Cap: 20,244m
- Published:
25 Sep 2018 -
Author:
Felix Brunotte -
Pages:
5
Concerning 2019 guidance: With current spot rates, FX is estimated to have a somewhat negative impact on the 2019 adjusted EBIT. On top of this, the impact from raw materials and tariffs is estimated at €100m in 2018 and for 2019 there will still be a headwind but less than in 2018. Overall, we guesstimate a further contraction to the 2019 EBIT. We will therefore adjust our forecasts, which should result in a lower target price but an unchanged recommendation.