Ageas SA 2023 Net Operating Result €1.166B, Down From €1.312B YoY; Net Operating EPS €6.35, Down From $7.13 YoY
Portfolio Pulse from Benzinga Newsdesk
Ageas SA reported a 2023 Net Operating Result of €1.166 billion, a decrease from €1.312 billion year-over-year. Net Operating EPS fell to €6.35 from €7.13. Despite the decline, the company saw excellent commercial performance in Non-Life and double-digit growth in Life in China. The cash position improved significantly to €959 million. Ageas proposed a total dividend of €3.25 per share, marking an increase of over 8%, with a final dividend of €1.75 per share.
February 28, 2024 | 8:47 am
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Ageas SA reported a decrease in Net Operating Result and EPS for 2023 but showed strong commercial performance and significant cash position improvement. The company also increased its dividend per share by over 8%.
Despite the decrease in Net Operating Result and EPS, the positive aspects such as excellent commercial performance, significant growth in the Life segment in China, and a substantial increase in the cash position are likely to be viewed positively by investors. The increase in dividend per share by over 8% further supports a positive outlook for AGESY in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100