Report
Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

Coface : Le loss ratio devrait tendre vers la moyenne de cycle au S2

>Le RN du T2 2018 est proche des attentes - Coface a publié mercredi soir (conf call hier matin) un RN de 27.3 M€ (x2.1), en ligne avec le consensus et légèrement inférieur à notre prévision (29 M€). Les revenus s'élèvent à 341 M€ (-0,7% en publié, +2.1% à change constant), avec une hausse des primes d’assurance de 2.8% à change constant bénéficiant d’une forte croissance de l’activité des clients, alors que les prix ont baissé en moyenne de 1.7% et une baisse des rev...
Underlying
Coface SA

Coface is a holding company that performs its activities through its primary operating subsidiary, Compagnie franASSaise d'assurance pour le commerce extA(c)rieur and its subsidiaries. Through its subsidiaries, Co. is a provider of credit insurance to businesses with solutions to protect them against the rist of client insolvency on both domestic and export markets.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Benoit Valleaux

Roland Pfaender,MBA,CFA,CCRA

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Matthias Desmarais
  • Matthias Desmarais

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