AXA : Favourable sales momentum in Q1
>Revenues up 2.7% on a l-f-l basis - At the end of last week AXA published (followed by a conference call on Friday morning) activity indicators for Q1 2019. Group revenues came in at € 35.0bn, up 13.4% on a reported basis and 2.7% l-f-l, beating forecasts (consensus: € 32.2bn, Oddo BHF’s estimate: € 31.3bn). In particular, vis-a-vis forecasts we note a robust increase at AXA XL (combined with a strong seasonal effect in Q1) and good sales in the US (sales growth on u...AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
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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