OC Oerlikon 'solid' 2022, better-than-feared 2023 outlook lift shares

Vontobel Holding AG

21/02/2023 07:55

** Shares in OC Oerlikon  OERL.S  edge up 1.45% in Julius
Baer pre-market trade after the Swiss industrial group reports
solid FY 2022, releases 2023 outlook  urn:newsml:reuters.com:*:nL1N3510AO
    ** Both Vontobel and Baader Helvea deem the FY results as
"solid"
    ** Vontobel adds guidance for FY 2023 is better than
expected, despite seemingly weakening trends into 2024 for the
polymer processing business
    ** While Baader Helvea flags 2023 outlook is below its
estimates, both brokers point to the company's early
communication of a potential downturn and proactive cost action
    ** The group forecast 2023 sales of around 2.8 billion Swiss
francs ($3.03 billion) at constant exchange rates, compared with
2.9 billion it reported for 2022
    ** It expects operating margin of 16% to 16.5% in 2023, down
from 17.1% last year
 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))