JMAT’s preliminary FY results might give a first indication of future (car) volumes and some perspectives on the developments in the battery materials business. The ‘preparation’ of the company erased c.-25% of EBIT. The justification therefore looks to us rather disconnected to the presentation by the company as management also swung into the line of companies unable to provide a 2020 guidance. FY profitability was below both our and consensus estimates: (reported £38
11 Jun 2020
A proxy for automotives' future?
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A proxy for automotives' future?
Johnson Matthey Plc (JMAT:LON) | 1,786 624.9 2.0% | Mkt Cap: 3,276m
- Published:
11 Jun 2020 -
Author:
Martin Schnee -
Pages:
3
JMAT’s preliminary FY results might give a first indication of future (car) volumes and some perspectives on the developments in the battery materials business. The ‘preparation’ of the company erased c.-25% of EBIT. The justification therefore looks to us rather disconnected to the presentation by the company as management also swung into the line of companies unable to provide a 2020 guidance. FY profitability was below both our and consensus estimates: (reported £38