Coface : Excellent net profit in Q3, but the stock now appears fully valued
>Continued revenue growth - Coface released yesterday after market close its Q3 2021 results that were very high and close to forecasts. Revenues came to € 390m in Q3, in line with forecasts (consensus of € 387m and our forecast of € 397m), up 9.1% in reported terms and 8.9% like-for-like. In the first nine months of the year, new business production remained high (€ 102m), while customer retention was slightly eroded (92.1% in 9M 2021 vs 92.7% in 9M 2020) because of ...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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