Phoenix group : Une génération de CF qui reste élevée
>La génération de CF au S1 a été supérieure aux attentes - Phoenix Group a publié le 15 août dernier son RN du S1 2022 (voir notre First Take publié le 16 août dernier). Nous ajustons nos prévisions ce matin suite à cette publication de résultat. Pour rappel, Phoenix Groupe a généré au S1 2022 un cash-flow net de 950 M£ (+9% vs S1 2021) nettement supérieur aux attentes (consensus 692 M£, notre prévision 701 M£), avec un niveau élevé de gains résultant des actions mana...Phoenix Group Holdings is a closed life and pension fund consolidator. Co. manages manage life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. Co. has one reportable segment, comprising its investment in and loans to/from Co.'s entities. Its revenue principally comprises the dividend and interest income derived from these investments and loans. As of Dec 31 2014, Co. had approximately 5.0 million policyholders and about £52.30 billion of total life company assets.
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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