Motor Sich Releases Impressive Financial Results for 1Q07
6 June 2008
Motor Sich (MSICH: BUY) published its 1Q07 financial results, which revealed a significant increase in its net revenues to USD 57.8 mln (+52.5% yoy) – the highest since 2002. Net income also leaped ahead to USD 8.9 mln (up from USD 0.1 mln in 1Q06) – net margin to 15.5%, and EBITDA margin to 25.6%. Inna Perepelytsya: We believe this will not be the last positive surprise from the company (see our report of May 16, 2007). We reiterate our BUY recommendation and target of USD 200.
