The release of the FY18/19 outlook is clearly a disappointment, with the group guiding for EBITDA of €220-230m (we had over €260m) on the back of the low-priced contracts signed in civil FY17 (plant-making) and uncertainties on steel prices (steel-making). We will revise downwards our numbers and target price.
24 Oct 2018
How to cool down FY18/19 expectations…
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How to cool down FY18/19 expectations…
Danieli & C. Officine Meccaniche S.p.A. (0APM:LON) | 1,771 0 0.0% | Mkt Cap: 1,440m
- Published:
24 Oct 2018 -
Author:
Fabrice Farigoule -
Pages:
2
The release of the FY18/19 outlook is clearly a disappointment, with the group guiding for EBITDA of €220-230m (we had over €260m) on the back of the low-priced contracts signed in civil FY17 (plant-making) and uncertainties on steel prices (steel-making). We will revise downwards our numbers and target price.