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07/08/2021
Economic Publications

All Coface Publications

02/04/2020
Economic Publications

SECTOR RISK ASSESSMENT MAP - FEBRUARY 2020

13 major sectors assessed worldwide. Coface assessments are based on 70 years of Coface expertise and on the financial data published by listed companies from 6 geographical sectors. 5 financial indicators are taken into account: turnover, profitability, the net debt ratio, cashflow, and claims observed by our risk managers.

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09/05/2019
Economic Publications

COFACE CEE TOP 500 COMPANIES - 2019 EDITION

Analyses show that the favourable economic environment was beneficial for the region’s 500 largest businesses, which translated into higher revenues. However, various challenges caused net profits to decrease. Competition is getting more intense and a higher turnover is required to be classified in the ranking compared to previous years.

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09/05/2019
Economic Publications

COFACE BALTIC TOP 50 - 2019 EDITION

The Baltic region’s economic growth is strongly driven by domestic demand. The countries benefit from the favourable situation on the labour market as well as rebounding fixed asset investments. Nevertheless, the external environment remains crucial for the Baltic States. The share of exports of goods and services as a percentage of nominal GDP is especially high in Lithuania and Estonia, where it amounted to 82% and 72% respectively last year. In Latvia it was 59%, making dependence on foreign markets a further important factor.

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09/05/2018
Economic Publications

Coface CEE TOP 500 Companies - 2018 Edition

Analyses show a strong and expanding CEE region with decreasing risks in 2017, which also translated into higher revenues and net profits at the region’s 500 largest businesses. Competition at the top is getting more intense.

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02/05/2017
Corporate Publications

2016 Activity report

2016, working towards the in-depth transformation of our Group. We aim to make Coface the most agile global credit insurance partner in the industry.

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09/19/2016
Economic Publications

Coface CEE Top 500 Companies - 2016 edition

The CEE Top 500 ranks the 500 biggest companies in the region by turnover. These top players increased their turnover by 4.2% to nearly 593 billion EUR and enlarged their staff by 0.5%.

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07/22/2015
Economic Publications

Automotive Sector Central Europe

The automotive sector plays an important role in the CEE’s economic activity. Thanks to low labour costs, the educated workforce, geographical proximity to Western European markets, tax incentives and the stabilising legal environment, CEE countries have become attractive destinations for investment by global car manufacturers.

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07/21/2015
Corporate Publications

2014 Activity report

Our IPO (Euronext, Paris) on 27 June 2014 was a success, confirmed subsequently on 22 December by Coface’s listing on the SBF 120 index. Its success proved that investors recognise the soundness of our Strong Commitment strategic plan, our governance, and the quality of our results in recent years.

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06/25/2015
Economic Publications

Global Country Risk Outlook June 2015

In this panorama, we first set out a study examining the economic situation and outlook for Sub-Saharan Africa. After a long period of gloominess, the economic weather became more favorable despite the Lehmann Brothers bankruptcy in 2008 and the eurozone sovereign debt crisis.

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06/16/2015
Economic Publications

India: Happy birthday Mr Prime Minister

In May 2014, following 5 weeks of legislative elections, India's Bharatiya Janata Party (BJP) leadre - Narendra Modi - became Prime Minister.

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06/08/2015
Economic Publications

End of european milk quotas: a new era for the french dairy sector

Since the introduction of milk quotas in 1984, until their effective ending in 2015, milk production has undergone many reforms. Having regulated the market for over 30 years, milk quotas disappeared on 1st April 2015.

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06/01/2015
Economic Publications

Insolvencies in Central and Eastern Europe

Challenging macroeconomic conditions have been a determining factor in companies’ business activities in recent years. These challenges included weak growth in domestic demand, due to difficult situations in the labour market and the reluctance of companies to make investments in fixed assets.

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05/28/2015
Economic Publications

Morocco: credit opinion survey

Corporate payment habits and the proportion of overdue payments they record are a good indicator of the health of an economy. Longer payment terms are an indicator not only of a company’s poor financial health but are also likely to have a knock-on effect on all its suppliers.

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05/11/2015
Economic Publications

Morocco: the challenge of becoming an emerging economy

Moroccan economy remains resilient during the last world economic crisis and was able to resist to Arab springs. In an increasingly unstable International environment, Morocco remains stable. Implementing an original development model, the country succeed the challenge to accelerate its potential growth when the major big emerging markets slow down.

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05/04/2015
Corporate Publications

What we see in the Asia Pacific region

Coface conducts an annual survey to examine corporate payment trends and experiences in the Asia-Pacific region. In 2014, the survey was conducted in 8 economies – Australia, China, Hong Kong, India, Japan, Singapore and Taiwan, as well as, for the first time, Thailand. The study revealed some key indicators that showed signs of a slight deterioration.

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03/30/2015
Economic Publications

Panorama Global Country Risk Outlook

In this panorama we first currently have sufficient strengths to explain why we give a negative set out a study examining how the advanced economies are facing up to the challenge of weak economic growth since the Lehman Brothers collapse,that is for the past seven years now!

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03/24/2015
Economic Publications

Panorama: Overview of Czech Republic

The Czech Republic is back on fast track. After falling into recession in 2012 and 2013 due to sharp fiscal consolidation and sovereign debt crisis in the Eurozone, the economy regained momentum reaching solid growth rate of 2.0% in 2014 and should gain speed with 2.5% growth in 2015, according to Coface forecast.

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03/16/2015
Economic Publications

Company insolvency trends in Brazil

Ongoing economic scenario in Brazil remains sensitive, Coface expects GDP to break even in 2014 and activity should contract by 0.5% in 2015. Industry dropped by 3.2% in 2014 and will probably record another negative year in 2015. The year has just started, but it may reserve some negative surprises.

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03/05/2015
Economic Publications

Panorama China Payment Survey

Coface conducts an annual survey of payment experience in China. With 80% of the survey respond-ents shared overdue experience and 56.7% of them saw an increase in overdue amount over the past year, the overall payment experience in China remained very challenging in 2014 (...)

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03/04/2015
Economic Publications

Panorama Latin America

Latin America is a major producer of commodities and recent drop in oil prices is impacting countries of the region in different ways. Some of them may benefit from lower international quotation, others are negatively impacted already in the short term and finally a third group could be affected in the medium term only (...)

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02/26/2015
Economic Publications

France, a favourable country for the development of start-ups?

Development of start-ups: what are the keys to success?

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02/25/2015
Economic Publications

France: Trend in business insolvencies

This barometer presents the new trend in business insolvencies. We are reviewing the results for 2014 and the first orientations for 2015 with insolvencies for January. After two consecutive years of growth, the number of insolvencies over 2014 had decreased by 2.9%.

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01/21/2015
Economic Publications

Panorama Poland construction sector

The construction sector in Poland has undergone turbulent times. After the booming period related to increased demand for housing construction as well as massive public investments thanks to organizing the Euro 2012 football championship, the sector experienced a significant deterioration

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01/19/2015
Economic Publications

Middle East and North Africa Panorama: What progress after the arab spring?

How do the Middle East and North Africa (MENA) economies perform after the social and political turmoil caused by the socalled “Arab Spring” late in 2010? Have social and economic demands of protesters resulted in a healthier economic outlook in these countries? The panorama will focus on hydrocarbon sector for the GCC countries and on the textile sector for the North Africa region. It will also assess the latest trends in construction, tourism and automotive sectors across the MENA region to evaluate possible corporate risks.

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01/19/2015
Corporate Publications

Panorama Turkey: Insolvencies

Company insolvencies in Turkey: Rise in exchange rates and slowdown in domestic demand affected payment performance. Impaired profitability made payments difficult. Focus on some sector risks : Metal, Automotive, Food, Chemical, Construction, Retail, Textile & apparel.

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01/14/2015
Economic Publications

Panorama LATAM : Growth picking up at countries of Pacific

Over the years Latam has begun to be associated with economic growth, new middle class, poverty reduction and controlled inflation.

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12/12/2014
Economic Publications

Panorama Coface: Insolvencies barometer

The number of insolvencies at the end of October stood at 63,002 companies, a figure down by - 0.9% over the last 12 months. This is the lowest level recorded since August 2013 (...)

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12/12/2014
Economic Publications

Panorama : Should we be afraid of “low-flation”?

The term "deflation" seems to be on everyone's lips in Europe these days, not just on those of economists. The buzz around the term is not surprising, as Eurozone inflation has been falling for the past three years. France is no exception (...)

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11/20/2014
Economic Publications

Panorama sector, European pharmaceutical companies : is austerity fatal ?

This end of year panorama starts with the risk assessment of 14 sectors in the three regions we monitor.

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11/06/2014
Economic Publications

Panorama Poland insolvencies

Poland is a headline example of the country that didn’t record recession in recent years. However, in micro terms companies insolvencies have been on...

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10/24/2014
Economic Publications

Panorama Country Risk - World Trade: a Sluggish Spell?

This publication is the October 2014 Coface Panorama country risk, and includes a study about World trade, which is stagnating in the first halfyear 2014 and is struggling to recover nearly 6 years after the start of crisis...

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10/15/2014
Economic Publications

Country Essentials 2014

A concise overview of country economic facts, clearly structured and brand new: Country Essentials from Coface

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09/29/2014
Economic Publications

Panorama United Arab Emirates : A remarkable recovery after the debt crisis but financing needs still high

How wealthy is the UAE economy after the debt crisis? Figures indicate that after contracting around 5 percent in 2009, the UAE economy recorded gradually solid growth rates. The economy is expected to grow by 5 percent in 2014, after expanding around 5.2 percent in 2013.

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09/24/2014
Economic Publications

China : carrot-and-stick

Since the beginning of the year, the Chinese government has continued its effort to carry out various items on the reform agenda, particularly on...

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09/19/2014
Economic Publications

Panorama Russia: The russian economy towards glaciation?

The Ukrainian crisis has occurred in a context of significant weakening of the Russian econ-omy. In 2013, Russian growth fell to 1.3% after an average GDP progression of 4.8%between 2000 and 2011.

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09/19/2014
Economic Publications

European airlines: forced to change

«European carriers have been hit by aggressive competition from Middle East and Asia and, they are among the least profitable in the world»

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09/08/2014
Economic Publications

Panorama Brazil Insolvencies: Activity does not take off

Activity in Brazil remains lackluster, inflation stands above the target , interest rates are among the highest in the world, confidence remains at a low level across a variety of indexes and the well-known low investment ratio continues to deteriorate. What is the impact on companies' payment capacity?

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09/04/2014
Economic Publications

Romania: Will economic growth come back to strong performance?

After five challening years Romania’s economic performance proved that it has become one of the leaders of the European recovery and exceeded expectations with GDP growth rising by 3.5% in 2013. However, the slowldown of the growth in 2014 shows another picture.

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07/16/2014
Economic Publications

Adriatic/Balkan Top50

For the third time, Coface is publishing the Adriatic/Balkan Top 50. The companies are ranked based on their turnover in 2013. The economic problems of the region in the last few years have also taken their toll on the top players: Total turnover declined by 1.2% to EUR 39 billion, and profits decreased dramatically by almost 16% to EUR 702 million.

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07/12/2014
Economic Publications

Panorama Country Risk - The British recovery : miracle or mirage

Thanks to vigorous growth since the second quarter of 2012, we anticipate the UK economy to get back to its pre-crisis level in the third quarter of 2014.

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07/10/2014
Economic Publications

Panorama Country: Brazil

From 2004 to 2008 Brazil had grown, on average, by 4,8% a year, but in the former period, from 2009 to 2013, the average rate declined to 2,7%. The country did not take advantage of the good winds to make important reforms, such as improving the infrastructure and the business climate...

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06/25/2014
Economic Publications

Panorama Country - Turkey: What to expect in 2014?

If the tensions rise again as it happened in December and January, this may harm investors’ confidence and result in a fluctuation in forex markets. Such a situation would have a negative impact on the corporate sector’s external debt stock which is already at record high level.

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06/05/2014
Economic Publications

Corporate Payment Trend and Sectorial Risk in Asia Pacific

From the hawk’s-eye view, Asia’s economic growth momentum remained strong in the post-crisis era, with Coface’s forecast pointing to a 6.1% YoY growth for Emerging Asia in 2014.

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05/23/2014
Economic Publications

Changes regarding SMEs in France and Spain – Insolvency Barometer in France

New barometer of companies insolvencies in France : a lull is observed from January to April 2014, the number of insolvencies falling by 2.3%. This barometer is followed by a comparison between the situation
of SMEs in France and Spain.

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04/29/2014
Economic Publications

CEE Insolvencies : 2013 was a challenging year for companies in Eastern Europe

The results of a study on insolvencies among the CEE economies, a region experiencing a sharp rise in the rate of insolvencies in many countries during 2013 (e.g. up 39% in Bulgaria and 32% in the Czech Republic).

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04/25/2014
Economic Publications

Electronics in Asia / Sector Barometer

Focus on the electronics industry in Emerging Asia, a region that has become in a matter of years the world’s workshop for many electronic components.

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04/22/2014
Economic Publications

Panorama: Which emerging countries will take over from the BRICS?

This panorama first includes a study dealing with new emerging markets. While the 2008-2009 global crisis had highlighted emerging market resilience, gamechanging events have taken place in those emerging countries since May 2013 indeed.

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03/25/2014
Economic Publications

Which emerging countries will take over from the BRICS?

While the 2008-2009 global crisis had highlighted emerging market resilience, game-changing events have taken place in those emerging countries since May 2013 indeed.

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03/06/2014
Economic Publications

Reality Check: Corporate Payment Trend and Sectorial Risk in China

The overall payment experience in China has deteriorated in 2013 compared to 2012.

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02/12/2014
Economic Publications

French Road Goods Transport (RGT): between economic difficulties and structural problems…

If there is one sector that has been hit by the decline in activity associated with France’s “double dip” recession, it is the road goods transport sector. Despite improvements from time to time since 2008 2008, the sector has not been able to find its way out of this slump.

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12/17/2013
Economic Publications

Textiles - Upmarket positioning and innovation: Key to the success for the French and European textile industry?

You will find in it our usual barometer, which assesses the risks to which companies in fourteen key industrial sectors in emerging Asia, North America and Western Europe are exposed.
We have also included an analytical focus on European textiles. This traditional industry was affected very early by globalisation, and, in particular, competition from developing countries.

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09/26/2013
Economic Publications

Carmakers : Europe refocusing on emerging markets

This Panorama includes our global sector barometer, which analyses the situation in fourteen key economic sectors in three of the world‘s major regions (European Union, North America and Emerging Asia) through a single credit risk indicator. In Europe, sector risks continue to deteriorate, especially in chemicals due to the remaining difficulties in the European industry, and also in the pharmaceutical branch due to the fiscal tightening measures taken by the governments.

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07/11/2013
Corporate Publications

2012 ACTIVITY REPORT

Jean-Marc Pillu, CEO of Coface: "In 2012, we combined further profitability and growth, while continuing to assist our customers"

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06/20/2013
Economic Publications

What has happened to the Italian business model?

This panorama contains a study of the Italian economy, which analyses and interrogates both macro- and microeconomic issues. We also present the latest adjustments to our country assessment.

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06/20/2013
Economic Publications

What has happened to the Italian business model?

This panorama contains a study of the Italian economy, which analyses and interrogates both macro- and microeconomic issues. We also present the latest adjustments to our country assessment.

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06/04/2013
Economic Publications

Central European companies in crisis: why?

This new Panorama contains the results of our Company Insolvency Monitor from April 2012 to April 2013 and the results of a study on insolvencies among Eastern European countries, a region experiencing a sharp rise in insolvencies rate.

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04/18/2013
Economic Publications

Focus e-commerce / distribution

Coface releases a series of economic reports and is pleased to announce the publication of its second Panorama sector report. Readers will find in it a global sector barometer which analyses the situation in fourteen key economic sectors. The originality of the analysis is that it is based on aggregating the accounts of 6,000 companies in three of the world’s major regions: the European Union, North America and Emerging Asia.

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03/20/2013
Economic Publications

Transformation of emerging country risk

In this Panorama, Coface highlights the radical transformation of risks in emerging countries. While traditional country risk (sovereign risk, external vulnerability) has appreciably declined, three new risks are appearing and need to be monitored.

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02/07/2013
Economic Publications

2013 Coface Country Risk Conference

The 17th Country Risk Conference held by Coface on 22 January 2013 has confirmed the complexity of a situation where, more than ever, the world seems to be «split in two»: advanced versus emerging countries.

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10/15/2012
Economic Publications

Updates and growth forecasts

The global economic slowdown is confirmed this fall, in line with the recession in the eurozone and the emerging market deceleration.

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04/15/2012
Corporate Publications

2011 Activity report

Jean-Marc Pillu, CEO of Coface: «In 2011, we achieved our goal of refocusing our operations on credit insurance».

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