Report
Solocal Group : Tougher activity despite a good margin performance. Downward revision to our 2022-2024 forecasts
>Neutral rating reiterated - We are downgrading our estimates for Solocal following the H1 results conference call. Our 2022-24 EBITDA estimates are lowered by 11%. We forecast a revenue decline of 5% in 2022 (in line with guidance) then -1% in 2023 and +2% in 2024. This is based on a slight fall in the client base in 2023 under the effect of a tougher economic environment. Our scenario is therefore clearly more cautious. We think that the group should be able to give...
Underlying
Solocal Group
Provider
Oddo BHF
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.
Jerôme Bodin
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