Despite the global economic crisis, Coface lifted revenues by a satisfactory 7.1% in 2008, with the impetus coming from Trade Receivables Protection and Services (Rating and Business Information, and Trade Receivables Management) outside Europe and from Trade Receivables Finance.
The decline in net profit was restricted to 54.1%, thanks to fine performances from Trade Receivables Finance and Services.
Coface Holding generated over 62% of consolidated sales outside France in 2008. The four business lines are being gradually rolled out in the 65 countries where we have a direct presence (with the addition of Egypt in 2008). The Trade Receivables division for each of the four business lines ranks first worldwide for geographic coverage.
Trade Receivables Protection (domestic and export) grew turnover by 4.6% compared to 2007. Trade Receivables Finance increased by 16.8% and the Services line (Ratings, Information, and Trade Business Receivables Management) improved revenues by 7.7%.
Financial Ratings
Fitch Ratings (16th of april 2009) | A+ |
Moody's (24th of july 2008) | Aa3 |
Standard & Poor's (26th of august 2009) | A |
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