Net profit was hit by important impairments on investments (€655m) and stood at only €113m. The operating result showed resilience (+7.6% yoy to €1,448m), but this should not continue in Q2. Generali did not give estimates on the impact of the COVID-19 on its annual figures, but it said that it would be significant. It is working on a cost reduction plan that may noy be enough for it to reach all 2021 targets.
21 May 2020
Doubts on 2021 targets
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Doubts on 2021 targets
Assicurazioni Generali S.p.A. (AGEN:WBO) | 0 0 0.6% | Mkt Cap: 24,114m
- Published:
21 May 2020 -
Author:
Bassem Neifer -
Pages:
3
Net profit was hit by important impairments on investments (€655m) and stood at only €113m. The operating result showed resilience (+7.6% yoy to €1,448m), but this should not continue in Q2. Generali did not give estimates on the impact of the COVID-19 on its annual figures, but it said that it would be significant. It is working on a cost reduction plan that may noy be enough for it to reach all 2021 targets.