BRIEF

on Rosenbauer International AG (isin : AT0000922554)

NuWays AG Reiterates Buy Rating for Rosenbauer International AG Amid Strong Q1 Performance

NuWays AG has released updated research on Rosenbauer International AG, reaffirming a "Buy" recommendation with a target price of EUR 50.00. The analysis highlights Rosenbauer's strong first-quarter results and a record order backlog, underscoring a successful operational turnaround.

Q1 sales rose by 17.7% year-on-year to EUR 226 million, exceeding estimates of EUR 215 million. Growth was driven by a robust order backlog of EUR 1.79 billion and an 8% average price increase per fire truck. Notable regional growth occurred in Europe (+67%) and the Americas (+6%), offsetting declines in the Asia-Pacific and Middle East & Africa regions.

EBIT improved by EUR 5.2 million to EUR 0.3 million, despite a negative one-off effect of EUR 2.3 million. The company witnessed a record Q1 order intake of EUR 362 million, leading to an order backlog of EUR 1.94 billion. Rosenbauer's management reiterated FY24 guidance, expecting sales of EUR 1.2 billion and an EBIT margin of 5%.

NuWays AG's forecast remains slightly more conservative but anticipates sequential improvements throughout FY24, driven by price increases, better supply chain conditions, and internal efficiency measures.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Rosenbauer International AG news