(Reuters) – Coface reported on Thursday of a larger decrease than expected of its annual turnover, the group citing the global economic environment, the drop in activity of its customers and the growing number of bankruptcy, While announcing perceiving a recovery of its activity in recent months.
The credit insurance specialist recorded a turnover of 1.845 billion euros over the period, down 0.6% at a perimeter and constant exchange rate after 1.868 billion euros a year ago .
The analysts interviewed by Reuters tapped on average on a turnover of 1.849 billion euros, according to LSEG data.
“At the end of 2024, the customer activity finally recorded a slightly positive performance after several quarters of decline,” said Cace in a press release.
“This slight rebound can suggest that the decline in post-Cavid activity is coming to an end,” added the press release
The group’s net profit has increased by 8.6%, standing at 261.1 million euros over the year 2024.
The group also intends to propose a dividend of 1.4 euros per share.
(Written by Pauline Foret, edited by Augustin Turpin)
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