Competence Centres

Automotives/ Industrial Goods & Services

The Automotives Research Team from Sal. Oppenheim offers a pan-European product. This consists of focusing in particular on the automotive manufacturers (OEMs) from the DAX and STOXX indices supplemented by selected European suppliers. Since the automobile industry is far more globalised than almost any other industry, special attention is given not only to market developments in Europe, but also to events in North America as well as in Asia and Latin America.

The team regularly reviews the events taking place among competitors of European OEMs. In this way, the analysts are able to reach the necessary conclusions about the competitive situation of the companies in the Oppenheim automotive shares index and the possible implications for developments in the relevant share prices. Continuously observing developments in the industry enables the team to identify current trends and to include these in the valuation models used.

The "Dual Coverage" approach ensures that several team members are able to give competent advice at any time on the shares listed on the index as well as on the general developments in the industry and on the markets.

Special Products

• Forecasts for the quarter season and their subsequent preparation
• Continuing special industrial themes (Accounting-themes)

The team Industrial Goods & Services pursues the fundamental analysis approach with a mixture of "top-down" and "bottom-up". Its motto is: "Act, don't react!" In a European economy strongly characterised by medium-sized companies, the analysts carefully nurture intensive contacts with companies and associations to keep their industry knowledge absolutely up to date.

Besides "traditional" mechanical engineering companies, the team also looks at so-called "future technologies", such as optical storage media and digital printing. The focus of the team's analysis is currently on German companies, but it is rapidly extending its primary research to guarantee European coverage.

Special Products

• Quarterly sector product
• Topic-related research (for example accounting and tax issues)
• Sector reports
• Investors conferences

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