No change in trends in Q1
COM''s Q1 results showed no major change in underlying trends. The qualitative outlook was reiterated. Revenues were down 20% organically with Agriculture (-28%) suffering more than the Industrial (-16%) business. Weakness was broad-based regionally speaking, with high double-digit declines in both EMEA and North America regions, while the rest were HSD down. EBITDA dropped by 30% y/y with the decline linked to lower volumes translating into c180bps of margin decline ( ....
