Vitesco rises as Q2 profit more than doubles, guidance kept

Vitesco Technologies AG

10/08/2023 09:40

** Shares in Vitesco Technologies  VTSCn.DE  rise 5.3% after
the German EV components maker published Q2 results, confirmed
guidance
    ** The company posts quarterly adjusted EBIT rising more
than twice y/y at 76.3 million euros ($84 million), 9% ahead of
consensus expectations, according to J.P.Morgan
    ** "We expect 3Q to be similar to 2Q with continued price
realizations and 1H recovery," Jefferies says
    ** The stock is among top performers of the German mid-caps
index  .MDAXI 
    ** Including Thursday's move, the stock has gained about
48.4% YTD

($1 = 0.9084 euros)

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))