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“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)
Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.Read More
South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgradeRead More
After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”
Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.Read More
At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.Read More
In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.Read More
Rising political risks in developed countries: the sword of Damocles hangs over Europe’s major economiesRead More
Fit to Win plan to transform Coface into the most agile global trade credit partner in the industry, while evolving to a more efficient capital modelRead More
Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015.
Business is benefiting from positive macroeconomic conditions.
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017.
Several favourable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.Read More
Pharmaceutical companies in the United States face two opposing scenarios for their business: "optimistic" or "pessimistic”Read More
China’s economy grew by 6.9% in 2015, the slowest expansion pace in 25 years. Growth should continue to slow in 2016 and 2017, and will probably undershoot the government’s average annual growth target of 6.5% - as set out in the five-year plan for 2016-2020.Read More
Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countriesRead More
Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditionsRead More
Noting a higher than expected increase in claims in emerging countries, Coface continues to adapt its risk management policy and foresees a net [...]Read More
Heavily impacted by the Chinese slowdown and the fall in commodity prices, sub-Saharan Africa posted its lowest level of growth since 2008. 15 countries, including several that have been severely impacted by cri-ses, show significant potential in terms of consumer spending. Two sectors offer medium-term opportunities: retail and ICTRead More
Infografics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frameRead More
Forecast world growth for 2016 down by 0.2 points to 2.5%. The average level of global risk corresponds to B, « significant risk ». Increasing numbers of emerging markets included in the "extreme" and "very high" risk categories. Three leading world economies become fragile. China penalises activity in several Asian countries. Europe facing positive dynamics, but political risk driven by the Brexit must be monitored.Read More
Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (...)
Coface and Bpifrance today signed an agreement concluding the transfer of French state export guarantees management from Coface to Bpifrance, in line with the preliminary protocol agreed with the French state on 29 July 2015.Read More
The Registration Document of COFACE SA for 2015 (Document de référence 2015 in French) was filed with the French financial markets authority (Autorité des marchés financiers - AMF) on April 13th, 2016, and registered under the visa number R.16-020.Read More
Global growth at half-mast (2.7% projected by Coface for 2016), under the impact of the highly volatility financial markets and continuing low oil prices, is compromising the health of industries analysed by Coface. (...)Read More
After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth via the oil channel but, above all, will bring huge changes to Iran itself.
The greater export risks faced by German companies are hampering growth performance. As Germany has strong trading ties with the Emerging Market and Developing Economies group (EMs), it is highly exposed to the (...)
The Board of Directors of Coface announces the appointment of Xavier Durand as Chief Executive Officer
This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.Read More
Aimed at the evolving credit insurance needs of mid-market companies, Coface has modernised its flagship policy, renamed TradeLiner. The move follows on from the experience Coface gained through its first global non-payment protection offer introduced fifteen years ago and is based on its desire to work harder to help protect mid-sized companies operating in the real economy.Read More
We begin 2015 with robust results: the Group’s growth and profitability are satisfactory and demonstrate the steadfastness with which the Group is implementing its strategy in a still mixed economic environment. The weaknesses seen in certain sectors across the world are affecting companies’ financial solidity and are an invitation to remain watchful. The Group continues to accompany its customers through sound risk management, securing both their own results and those of Coface.Read More
Czech Republic under positive watch (A4)- economy benefits from good prospects in the car industry and household consumption
The Czech Republic is recovering from recessive effects as a result of debt crisis in the Eurozone. The economy regained momentum reaching solid growth of GDP by 2.0% in 2014 and even a higher growth of GDP by 2.5% is forecasted by Coface to be reached this year. The main driver of the Czech economy will be the export of passenger cars as well as the rising consumer consumption.Read More
We are pleased to publish full-year results in line with our expectations. Coface has once again demonstrated the pertinence of its profitable growth model this year. Our innovative product offering, appropriate distribution channels, extensive international presence and prudent risk management have all contributed to the significant improvement in our results.Read More
Coface continues to progress on a path of growth and profitability
· Turnover +1.8% at constant scope and exchange rates
· Client retention rate still high at 91.9% and new contracts production up +8%
Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.Read More
“Inflation, recession and decreasing exports” were the buzz words that characterised 2013 for companies in Central and Eastern Europe.
Worldwide economic growth picked up pace but left the CEE countries aside. The eurozone, the region’s major trading partner, remained in recession in 2013 and was the main reason for making the economic environment even more difficult for its neighbours.
Coface is publishing its second edition of the Baltic Top 50. The companies are ranked based on their turnover in 2013. Figures for 2013 show the continuing recovery of the Baltic states. The total turnover of the top players in the North increased by 2.2% to EUR 36.2 billion. Whereas net profits fell from 2011 to 2012, companies have now reported a sharp rise of 54.6%.Read More
(Vienna, Zagreb 2013) Coface launches credit insurance from the very first day of Croatia´s accession to the European Union on 1st of July 2013. For the worldwide credit insurance company it is not an unknown country: Since 1998 Coface has been active on this market by offering business information and debt collection services for Croatian and international customers.Read More
The CEE Top 500 is a joint project by the Coface branch offices in Central and Eastern Europe. This ranking covers the largest companies in the region – based on revenues for the 2010 calendar year – and was prepared in 2011 for the third time.Read More
From the start of 2011, in less than four months, the insurance premiums of business risk Management Company Coface Lithuania reached 1.9 million litas, i.e. nearly 78 per cent more than during the same period in 2010.Read More
Coface announces good turnover resistance, a turnaround in its profits and a new credit insurance approach
Support to the insured’s and the economy has resulted in a total guaranteed exposure that has been stable between the end of 2007 and the end of 2009, at €370 billion euros (the only major credit insurer to deliver such stability).Read More