Coface SA
COFA
ISIN FR0010667147 / Valor 4594503
Coface SA
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About company
Coface SA is a leading global credit insurer with a 75-year history of supporting sustainable business growth by managing and insuring credit risks. The company operates in 58 countries, employing approximately 4,721 staff members to serve around 50,000 clients worldwide. Coface's core services include helping businesses recognize and evaluate risks early in their development phase, thereby facilitating informed decision-making. Additionally, the company offers innovative factoring solutions to enhance clients' liquidity. The firm's expertise extends to protecting businesses from payment defaults by providing access to crucial information and support in securing financial transactions. With a direct presence or strategic partnerships in 100 countries, Coface is well-positioned to offer coverage in nearly 200 states, ensuring local support through its extensive network of offices, including a significant presence in Germany and Northern Europe.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (07.08.2024):
Net Income
Coface SA reported a net income of €142.3 million for the first half of 2024, reflecting a 10.4% increase compared to the same period in 2023. This includes €73.8 million earned in the second quarter of 2024. The annualized return on average tangible equity (RoATE) was 15.3%, significantly above the company's mid-cycle targets.
Turnover
For the first half of 2024, Coface SA's consolidated turnover was €922.7 million, down 3.1% at constant FX and perimeter compared to H1-23. The decline was primarily due to a 5.3% drop in revenues from insurance activities, influenced by a decrease in inflation and a lack of rebound in client activities. However, non-insurance activities saw a 7.9% increase in turnover.
Combined Ratio
The combined ratio net of reinsurance for Coface SA stood at 63.4% in H1-24, an improvement of 2.1 percentage points year-on-year. The gross loss ratio improved by 6.9 percentage points to 32.5%, reflecting better risk management and high reserve releases. The net loss ratio also improved by 5.3 percentage points to 35.0%.
Financial Income
Coface SA's net financial income for the first half of 2024 was €40.8 million. This figure includes realized capital gains of €10.1 million, which offset negative market value adjustments on investments and an adverse FX effect. The portfolio's current yield was €48.0 million, with a yield on new investments at 4.5%.
Solvency Ratio
As of the first half of 2024, Coface SA's estimated solvency ratio was 195%, above the target range of 155%-175%. This high solvency ratio provides a strong level of security for clients and positions the company well to seize growth opportunities as they arise.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2194 M
Market cap (USD)
78,929
Daily traded volume (Shares)
14.08 / 13.93
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
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