OC Oerlikon cuts margin guidance, shares slide
03/11/2022 10:05
** OC Oerlikon OERL.S shares fall around 4% after the
Swiss industrial group trimmed its full-year margin guidance
** OC Oerlikon cut its full-year operational core earnings
(EBITDA) margin to between 17% and 17.5%, from around 17.5%
previously urn:newsml:reuters.com:*:nL8N31Z108
** The Pfaeffikon-based firm posted a third quarter
operational EBITDA at 126 million euros ($123.20 million), 7.6%
up year-on-year
** Baader Helvea says the results were "solid" but adds that
minor guidance adjustment and cautious outlook will likely weigh
on the stock
** "While we expect the long-term trend for the development
of the filament business to remain positive, we remain cautious
for 2023 as the macroeconomic environment remains uncertain,"
Zürcher Kantonalbank says
** It adds that tight credit environment and low visibility
on the demand side could have a direct impact on Surface
Solutions' short-cycle business
** OC Oerlikon's shares are down 30% year-to-date
($1 = 1.0227 euros)
(Reporting by Tristan Chabba and Enrico Sciacovelli)
((Tristan.chabba@thomsonreuters.com))