Coface: H1 sales resist, net income halved
(CercleFinance.com) - Coface has reported H1 2020 consolidated sales of 724.
6 million euros, down -0.6% LFL compared to the first half of 2019.
In published data (current consolidation scope and exchange rates), sales fell by 1.1%.
Operating profit came in at 55.4 million euros in the first half of the year, down 52.8% y-o-y. Net income (group share) reached 24.0 million euros, including 11.3 million euros in Q2 2020.
"Coface's operations continue to be supported by a solid balance sheet. The solvency ratio reached 191%3 (183%1 excluding government schemes). These levels are above the target range of 155% to 175%," the company said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.