Vitesco falls as 2023 outlook implies consensus downside

Vitesco Technologies AG

23/03/2023 08:51

** Shares in Vitesco  VTSCn.DE  fall 4.9% after the German
EV components maker gave 2023 guidance implying EBIT mid-point
below market expectations
    ** It sees adj. EBIT margin of 2.9%-3.4% in 2023, which
implies adj. EBIT of 270-330 mln euros ($294.1-359.4 mln) vs
consensus of 315 mln euros, according to Jefferies
    ** "Potential downside to consensus," Jefferies says, noting
the outlook implies mid-single-digit downgrade despite the
group's "slightly aggressive" global LVP assumption of 3-5%
    ** The stock is at the bottom of Germany's small-cap index
 .SDAXI 

($1 = 0.9182 euros)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))