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Coface: 9m NP E189.7m

( - Coface recorded consolidated revenues of E1,417.
8m for the first nine months, up 7.1% LFL and y-o-y.

On a reported basis (at current consolidation scope and exchange rates), revenue rose by 5.3%.

Insurance sales rose by 6.6% LFL.

The combined ratio net of reinsurance stood at 66.0% for 9m 2023, up 0.3 pt y-o-y.

Operating income fell by 0.8% to E273.4m. The effective tax rate was 24% (27% in 9m 22). Overall, net profit (group share) came to E189.7m, up +2.1% y-o-y, including E60.9m in Q3 2023.

Coface confirms that it is actively preparing its next strategic plan, which will be presented to investors on 5 March 2024.

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