H&R: Clear trend towards recovery – concerns remain

H & R’s sales fell by 24 percent to € 208.1 million in the third quarter. The EBIT improves from -6.5 million euros to +1.9 million euros. The bottom line is that the loss is reduced from 6.0 million euros to 1.2 million euros. The experts at Baader speak of a solid quarter. Should the positive trend continue, the consensus might have to be revised upwards. The market currently expects an EBITDA of 45 million euros for 2020.

There is a clear trend towards recovery in the markets at H&R. This should also have an impact on the fourth quarter. However, new measures to contain the pandemic could have a negative impact on business. Therefore, H&R remains cautious and expects an EBITDA of 45 million euros at most.

The Baader analysts stick to their buy recommendation for Baader shares. The experts see the price target at EUR 5.50.

The shares of H&R give in the afternoon 3.8 percent to 4.735 euros.


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