Coface : A very good Q4 result with a very solid balance sheet
>Good commercial momentum given the context - Yesterday evening after market close, Coface reported its FY 2020 results. The group generated Q4 2020 net income of € 30m (+3.6% vs Q4 2019), a shade below our forecast (€ 33m) due to non-recurring charges, but well above the consensus (€ 24m) with a very good technical result. Commercial momentum was favourable, with a limited -0.6% decline in revenues l-f-l for the full year. In particular we note an increase in new bus...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.
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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