Strong Q2 Figures Lead to Buy Recommendation for Rosenbauer International AG

NuWays AG has issued an updated research classification for Rosenbauer International AG, recommending a BUY rating with a target price of €50.00. This follows the release of Rosenbauer's strong Q2 numbers, which exceeded expectations.

Rosenbauer reported a 15% year-over-year increase in Q2 sales, reaching €309 million. Earnings Before Interest and Taxes (EBIT) surged by 151% to €14.1 million, despite negative one-time effects totaling €1.2 million. These results were driven by price increases and improved supply chains.

The company's order intake also remained robust at €382 million, leading to a record high order backlog of €2.02 billion. Management aims to reduce the book-to-bill ratio to mitigate risk.

Robau Beteiligungsverwaltung plans to acquire additional shares to reach a 50.1% controlling stake, pending regulatory approval expected in Q4 2024. The FY guidance for €1.2 billion in sales and a 5% EBIT margin has been confirmed, assuming stable supply chains.