"SCHAEFFLER family increases stake in VITESCO. The SCHAEFFLER company IHO has taken advantage of the reduced share price level and acquired 1.6 million VITESCO shares, increasing its stake by 4% to 49.99%. The Herzogenaurach-based company is betting on a faster breakthrough of electric cars. The former drive technology division of CONTINENTAL primarily addresses the topic of e-mobility. The product range covers all variants of electric drive, from 48-volt systems to hybrid technologies and high-voltage components. Fuel cell technology for heavy commercial vehicles is also a topic. VITESCO is poised for a massive jump in profits, according to Bloomberg. In the current year, earnings per share are estimated at €1.80. In 2023, it should already be €5.64 per share. The P/E ratio will then drop to just under 7, making VITESCO one of the cheapest automotive suppliers. With the share increase, the major shareholder rings to enter."

This is a text excerpt from the Bernecker Börsenbrief "Bernecker Daily" in the issue of 05.07.2022. Further information about the Hans A. Bernecker stock letters can be found via the link in our profile. Please also note the legal information on our website.