Vitesco rises on better-than-expected preliminary FY results

Vitesco Technologies AG

23/02/2023 08:55

** Shares in Vitesco  VTSCn.DE  are up 4.4% after the German
EV components producer's preliminary FY earnings beat
expectations
        ** Jefferies says the company's preliminary earnings and
free cash flow for Q4 and FY22 came in above consensus
  
        ** 
    FCF
     is up at EUR 123.2 million ($130.72 million)from EUR 113.3
million a year earlier
  
    ** "While revenue was in line with ours and consensus
expectations, adjusted EBIT came in at EUR 222.9 Mln ahead of
street expectations" J.P. Morgan says
    ** It now expects consensus estimates to move slightly
higher, saying it is currently 3% ahead of consensus on adjusted
EBIT forecasts for 2023
    ** The stock hits the top of German's small-cap index
 .SDAXI 
($1 = 0.9425 euros)
 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))