AXA: Online results for AXA are not enough in the eyes of the scholarship, the action unscrews

(BFM Stock Exchange) – The insurer delivered a set of online figures. Meanwhile, with analysts’ expectations in the first half. In addition, But in view of the strong progression of the title. For example, the market hoped for a good surprise with perhaps a raising of objectives. In addition, The company’s net profit has also been weighted by negative exchange effects.

With the great nervousness of the markets at present. Meanwhile, a simple grain of sand in a publication can stop the machine. Furthermore, Hermès, for example, fell by more than 4% after having gave up an impressive growth, 9% in the second quarter. Similarly, This because investors hoped that the figure would approach just over 10%. Nevertheless,

Sometimes the simple absence of good surprise is a sufficient reason in the eyes of the market to. Consequently, take its profits.

axa: online results axa not

If necessary with AXA. The insurer, this Friday, delivered “a set of very clean results online with expectations”, summarizes Morgan Stanley. “AXA’s results for the first half of 2025 seem to be slightly higher than expectations in terms of income. margins and profits, while solvency is in accordance with forecasts,” observes Jefferies.

However, the AXA action fell 6.2% on the Paris Stock Exchange at the end of the morning. accusing the second largest drop in the CAC 40 behind Teleperformance, which plunges 17.9% (and which at this rate will soon be part of the CAC 40).

>> Access our exclusive graphic analyzes. and enter into the confidence of the trading portfolio

Negative exchange effects – Axa: online results axa not

“The problem is that OXA had signed a good performance in recent months. Suddenly, publishing online results is not surprising which can disappoint the market that expected more,” said an axa: online results axa not analyst. “Furthermore, the group’s net profit share was penalized by foreign exchange effects and has established 3.9 billion euros when we expected a figure closer to 4.2 billion euros,” he adds.

“Perhaps also that investors hoped that the company is raising its objectives when the company simply said them. Additionally, ” said the analyst.

AXA confirmed to be waiting for 2025 growth of its operating profit by action in the target range of its strategic plan. which provides for average annual growth per year from 6% to 8%. However in the first half of this indicator increased by 8%.

In detail, AXA has generated “raw bonuses and other income”, equivalent to turnover in the insurer of 64.25 billion euros in the first half, up 7% both in published data and excluding exchange effects. The amount proved to be 1.4% greater than the consensus, notes Jefferies.

The dynamics of the axa: online results axa not company have been relatively homogeneous in its various trades. with growth of 6% excluding changes in the insurance insurance, 8% alive and health and 4% in asset management.

The operating profit registered at 4.465 billion euros close to expectations (4.44 billion euros according to UBS). The operating profit notably increased by 7% in the insurance insurance division, to 3.07 billion euros. Profitability was notably supported by the slight withdrawal of the combined ratio, 90% against 90.2%, a year earlier.

Acquisition in Italy

The combined ratio is an indicator of profitability of insurers in their insurance insurance activity. This ratio reports the amount of compensation increased by the costs operating to the bonuses collected (or income costs. to simplify). A ratio less than 100% means that the insurer is profitable.

AXA’s solvency ratio, an indicator of equity robustness, has been 220%, up four percentage points, and online with expectations.

axa: online results axa not

In parallel with its half -yearly results. AXA announced the acquisition of prima, a direct insurance group in Italy, which collected 1.2 billion euros in bonuses in 2024, is based in Milan and has 1,100 employees.

AXA will take a 51% stake for an amount of 0.5 billion euros, promoting the Italian company about 11 times its profits. The insurer also has an option to buy the remaining 49% by 2029-2030. The group believes that the transaction will have an unfavorable impact of six percentage points on its solvency II ratio.

Jefferies judges that the transaction is “fair” (“honest”) but not “attractive”. However, the bank considers that strategic logic is clear. “This agreement will almost double the Italian automobile franchise in AXA (Prima holds 10% of the retail automotive market). to extend the scope of direct AXA activities (a structural growth segment),” explains the bank.

Julien Marion – © axa: online results axa not 2025 BFM Bourse