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 PRESS RELEASE

SCOR announces the availability to the public of the Offer Document an...

SCOR announces the availability to the public of the Offer Document and the Other Information Document regarding its tender offer on MRM Press releaseNovember 22, 2024 - N° 18 SCOR announces the availability to the public of the Offer Document and the Other Information Document regarding its tender offer on MRM To read this information in full, please confirm that you have read and understood the disclaimer on SCOR’s website . The AMF press release is also available as an attachment below.  * *        * SCOR, a leading global reinsurer   As a leading global reinsurer, SCOR offer...

Carole Braudeau
  • Carole Braudeau

Credit Morning 11/20/2024

Grifols: the board considers that Brookfield’s indicative price undervalues the company Teva: S&P upgrades the rating to BB/positive from BB/positiveElior: Results recovered in 2023-24, exceeding expectations. Debt reduction is making headway as planned.Tereos: Sharp decline in EBITDA in Q2 24/25. The financial position is stable thanks to the generation of FCF.>...

Carole Braudeau
  • Carole Braudeau

Morning Crédit 20/11/2024

Grifols : le conseil d’administration estime que le prix indicatif proposé par Brookfield sous-évalue la sociétéTeva: S&P upgrades the rating to BB/positive from BB/positiveElior: les résultats se sont redressés 2023/24, dépassant les attentes. Le désendettement progresse comme prévu.Tereos : fort repli de l'EBITDA au T2 24/25. La situation financière est stable grâce à la génération de FCF.>...

Bayer AG: 1 director

A director at Bayer AG bought 11,278 shares at 20.745EUR and the significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...

Benoit Valleaux ... (+5)
  • Benoit Valleaux
  • Roland Pfaender
  • MBA
  • CFA
  • CCRA

SCOR : Solvency margin much higher than expected

>Very good underlying profitability in P&C - Scor reported its Q3 2024 results yesterday. The group’s insurance revenues fell 6.8% l-f-l to € 3,944m, missing expectations, with declines of 2.5% in P&C (non-renewal of a multiyear contract, voluntary reduction at SBS) and 10.3% in life insurance. In P&C, the combined ratio was 88.3% (in line with the consensus and vs our estimate of 88.9%), with a nat cat cost of 13.2 points (vs 10 points budgeted) vs the consensus for...

Benoit Valleaux ... (+5)
  • Benoit Valleaux
  • Roland Pfaender
  • MBA
  • CFA
  • CCRA

SCOR : Marge de solvabilité très nettement supérieure aux attentes

>Très bonne rentabilité sous-jacente en dommages - Scor a publié hier son RN du T3 2024. Les revenus d’assurance du groupe ont baissé de 6.8% à données comparables à 3 944 M€, inférieurs aux attentes, en baisse de 2.5% en dommages (non renouvellement d’un contrat pluriannuel, réduction volontaire chez SBS) et de 10.3% en réassurance vie. En dommages, le ratio combiné a été de 88.3% (en ligne avec le consensus et vs notre prévision 88.9%), avec un coût des catastrophe...

 PRESS RELEASE

Third quarter 2024 results: 2024 L&H assumption review completed, Grou...

Third quarter 2024 results: 2024 L&H assumption review completed, Group solvency ratio of 203% Press release14 November 2024 - N° 17 Third quarter 2024 results 2024 L&H assumption review completed, Group solvency ratio of 203% Good Group underlying performance in Q3 2024, driven by: Very strong performance of P&C, with a combined ratio of 88.3% in Q3 2024 and allowing for ongoing reserving disciplinePositive underlying trend in L&H performance, with an insurance service result1 of EUR 81 million in Q3 2024 adjusted for one-offs2, or EUR -210 million on a r...

Michael B. Schäfer ... (+2)
  • Michael B. Schäfer
  • Stephan Wulf

Bayer : Weaker-than-expected Q3 results and cut in group’s adj. EBITDA...

>Group’s adj. EBITDA significantly below expectations - At a group level, Bayer’s Q3 sales of € 9.97bn (-3.6%), were below our (€ 10.2bn) and consensus estimates (€ 10.1bn), the group’s EBITDA of € 1,251m (-26%) came in 9% weaker than we expected (€ 1,376m) and was 5% below the consensus (€ 1,313m). The significant group’s EBITDA decline vs Q3 2023 was driven by the Pharma division, which came in at € 1,102m (23.4% below Q3 2023). Adjusted EPS of € 0.24 was 37% below ...

Rafael Bonardell
  • Rafael Bonardell

BAYER: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 3T'24 vs 3T'23: Ventas: 9.968 M euros (-3,6% vs -1,7% BS(e) y -2,2% consenso); EBITDA: 1.251 M euros (-25,8% vs -18,0% BS(e) y -22,1% consenso). Rdos. 9meses'24 vs 9meses'23: Ventas: 34.877 M euros (-2,5% vs -2,0% BS(e) y -2,1% consenso); EBITDA: 7.774 M euros (-10,5% vs -9,0% BS(e) y -9,8% consenso).

Research Department
  • Research Department

INFORME DIARIO 12 NOVIEMBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: BANKINTER, CAIXABANK, MINOR HOTELS, SECTOR INMOBILIARIO, SECTOR SEGUROS. EUROPA: BAYER. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. Los mercados se estabilizan En una jornada de pocos catalizadores las bolsas europeas rebotaron, compensand...

 PRESS RELEASE

Declaration made pursuant to Article L. 233-8-II of the French Commerc...

Declaration made pursuant to Article L. 233-8-II of the French Commercial Code and Article 223-16 of the General Regulation of the Autorité des Marchés Financiers InformationNovember 7, 2024 Declaration made pursuant to Article L. 233-8-II of the French Commercial Code and Article 223-16 of the General Regulation of the Autorité des Marchés Financiers Information relating to the total number of shares and voting rights comprising the share capital as of October 31, 2024 Date Total number of shares1 comprising the share capital Theoretical number of voting rights2 10/31/2024 1...

 PRESS RELEASE

SCOR - Proposed public offer for MRM: price adjusted

SCOR - Proposed public offer for MRM: price adjusted Press releaseNovember 6, 2024 - N° 16 Proposed public offer for MRM: price adjusted To read this information in full, please confirm that you have read and understood the disclaimer on SCOR’s website . * *        * SCOR, a leading global reinsurer   As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expert...

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