AXA : RO du S1 fortement impacté par la COVID, mais valorisation très attractive
>Des revenus en baisse durant le confinement - AXA publiera son résultat S1 2020 jeudi 6 août avant Bourse. Le résultat sera impacté par des changements de périmètre, notamment avec la cession d’AXA Equitable Holding aux Etats-Unis (AEH), et dans une moindre mesure l’intégration de Tiang Ping en Chine. Nous prévoyons des revenus en baisse de 6.7%e à 54.1 Md€ vs S1 2019, supérieurs au consensus de 52.6 Md€, soit des revenus de 22.4 Md€ (-2.6%) sur le seul T2. Nous tabl...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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