Coface Group

Key figures

Q1 2017 Results

Coface results for Q1-2017: Net income at €7.3m driven by an improvement in net loss ratio. Fit to Win progressing as planned.
  • Turnover reaches €348.3m down (2.2)% at constant FX and perimeter*
- Mature markets stable
- North America declining given the non-repeat of large deals signed in ‘16
- Emerging markets are still impacted by the effect of risk action plans
 
  • Net loss ratio at 58.2%, net combined ratio at 92.0%
- Gross loss ratio improved 4ppts. at 57.8% (vs 61.8% in Q4-16) driven by improvement in North America and Asia
- Net loss ratio improved by 9.7ppts. vs. Q4-16 also reflecting increased recourse to reinsurance
- Net cost ratio at 33.9%
  • Net income €7.3m
  • Fit to Win is progressing as planned
- Roll out of risk action plan complete
- Reached €2.0m cost savings year-to-date, in line with €10m objective for the year
  • Reminder of 2017 guidance: net loss ratio below 61% for the full year
 
Unless otherwise stated, changes are in comparison with 3M-2016
*Constant perimeter = excluding State Export Guarantees Management (€12.0m revenues in Q1-2016)
Coface ceded this activity as from 1 January 2017 ; 2016 figures impacted by this activity have been restated so as to be comparable to 2017
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