Coface : Slower revenues, but good technical profitability maintained
>Revenues down 3% in Q3 2023 - Coface yesterday evening reported its Q3 2023 results. Group revenues amounted to € 458m in Q3 2023, down 3.3% reported and 0.3% excl. forex, short of the consensus (€ 492m) and our forecast (€ 477m), which was more cautious than the consensus. As could be expected, the group’s business in Q3 was undermined by lower inflation, including on commodities, and the economic slowdown, translating into a decline in client activity, which is br...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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