Ageas : Good profit target 2024 but stopping with automatic SBB, change to Neutral
>Conclusion: good profit target but less remittance, change to Neutral - Yesterday after trading hours at the Investor-event Ageas presented an EPS target for FY2024 (keeping IFRS17 out of this scope) which is marginally better than we expected due to a better non-life combined ratio target of <95% (was <96%). However, the remittable holding free cash flow target was less than we expected due to less than expected dividend upstreaming from Asia. The dividend target wa...Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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