Coface : Robust net income in Q3, despite the gradual normalisation expected in the combined ratio
>Slowing revenues, but net income expected at € 58m in Q3 2023 - On 14 November after trading, Coface is set to report its Q3 2023 results under the new IFRS 17 accounting standard. We forecast a moderate increase in revenues at € 477m (+0.6% pro forma), below the consensus (€ 492m) with a clear sequential slowdown expected in growth due to the economic environment and the downward trend in inflation. This slowdown was seen at Atradius (premiums down 4% in Q3) and we ...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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