Report
Steven Gould

Unicredit : Transform19 clôturé brillement et Team23 lancé solidement !

>Carton plein sur l’opérationnel ! - La publication au T4 2019 ressort globalement très solide sur l’underlying – rappelons que le trimestre est marqué par d’importants one-offs négatifs (sortie de la JV sur Yapi, charges de restructurations, impact du de-risking accéléré de la division non core). Presque de façon anecdotique, la perte nette ressort moins importante qu’attendu à 0.8 Md€ (-26% vs consensus -1.1 Md€). L’essentiel de la qualité de la publication est aill...
Underlying
UniCredit S.p.A.

Unicredit is a pan-European commercial banking group based in Italy. Co. is engaged in the provision of in-branch and online corporate and investment banking services, providing customers with access to banks in 14 core markets as well as to an another 18 countries worldwide. Co.'s operations are organized along six business lines: Commercial Banking Italy; CEE Division; CIB; Commercial Banking Germany; Commercial Banking Austria; and Asset Gathering. Co.'s European banking network includes Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Slovakia, Slovenia, Serbia and Turkey.

Provider
Oddo BHF
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.

Analysts
Steven Gould

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