EarningsREVO’s 4Q23E results to be affected by the long tail of the bad weather events last summer, leading to an increased combined ratio forecast to 85% from 82%.
Financial EstimatesAdjustments to REVO’s financial estimates include a reduced FY23E adj. operating profit to EUR 21.2M from EUR 22.5M and a cut in dividend estimate to EUR 0.08/share from EUR 0.12/sh.
Financial PerformanceThe combined ratio for 1Q is worse than forecasted, although it aligns with full year expectations.