Coface rezultati 1Q-2016
Xavier Durand, CEO of Coface, komentar:
“This has been a tough first quarter. Business turnover and profits were lower compared to the same period last year, against the backdrop of a polarized and volatile economic environment.
Our performance reflects a stark contrast between mature credit insurance markets - where risk is low and competitive pressures are driving down revenue - and emerging markets where risk is high, particularly in the commodities sector. Though the positive impacts of measures taken to reduce our risk exposure in Latin America over the last year are already materializing, it is too early to see the full effects of risk initiatives launched in Asia at the end of last year; these will translate progressively into our results. Given the volatile global economic environment, we remain cautious for 2016.
We are conducting a comprehensive strategic review of the business, which includes the work currently on-going on operational efficiency to improve our competitiveness. Its conclusions will be integrated into the new strategic plan, the main themes of which will be communicated at the time of our half-year results and presented in full on September 22nd.”