Sintercast: Q2 in line, but automotive uncertainty continues - ABG
- Sales -3%, adj. EBIT +1% vs. ABGSCe - Continued uncertainty in the automotive sector driven by tariffs - 5m EEs by '26 and y-o-y installation growth uncertain due to this
ANNONS
Q2 results
Sales fell 12% y-o-y and were 1% above our estimate. Annualised engine equivalents produced were 3.4m, falling 15% y-o-y, and were thereby 3% below our estimate, but this was pre-announced in July. Sampling cups sold increased 2% y-o-y, and were 10% above our estimate, which was also pre-announced in July. With a margin of 36.0%, 0.2pp below our estimate, EBIT adj. was 1% above our estimate. All in all, Q2 was a solid quarter in line with our expectations.
