Please find our all-new analysis of Antolin here.

We have been reviewing our automotive names side-by-side, so as to create a bit of an industry view and ensure we view each bottom-up name in a

In line with the downturn in the auto parts industry, the Spanish auto parts group reported Q3 results that were reflective of the industry. Revenues declined by

Please find our updated model here

Antolin reported at best mixed Q2 2024 results yesterday. The company was held back by weaker-than-forecast vehicle sales (especially production delays in

Antolin’s Q2 2024 were held back by weaker-than-forecast vehicle sales, but cost control meant EBITDA (and margins) beat our expectations. We will be

The company reported Q1 2024 results which confirmed our negative view. Revenues declined by 10% to €1.04 billion and below our estimate of €1.2 billion as revenues from

The company announced Q4 and FY 2023 results this morning. While the results were pre-announced a couple of weeks ago and were in line with

Please find our new analysis on Antolin, here.

While we think in the current recovery mode for car sales - Antolin will show signs of growth in the medium term. However, given its current leverage and ambitious goals for growth as

We are definitively working on more short ideas, but here goes a different view. Below is my entry for graph of the month.
The market has traded up

Two random themes from Germany this morning: Car Industry Investments and Consumer Rates.

1) Car Industry Investments:

The German car industry could be shedding some 10% of

Below are some random graphs that caught our eyes this week:

1) To our dear American Friends for Thanks Giving: Thank you very much from Germany!

FYI: Some visual orientation.

Clearly this has implications beyond merely Germany and the automotive sector.