Coface : Record net income in 2021, but a sharp sequential slowdown expected in Q4
>Net income forecast to be down sequentially in Q4 2021 - Coface is due to report its 2021 results on Tuesday 15 February after trading. We expect net income of € 222m in 2021 (+168% vs 2020), slightly below the consensus (€ 225m). We estimate net income in Q4 2021 at € 31m (+3.3%) in line with the consensus, down sequentially versus previous quarters (vs € 67.7m in Q3 2021 and € 66.8m in Q2 2021), given: 1/ a traditional seasonal pattern in Q4 following a lower level...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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