Athens / Paris, 26 March 2019 - 17h35
Coface launches credit-insurance offer in Greece
Local companies set to benefit from Coface's expertise in risk prevention and payment protection.
In line with its strategic ambition to grow in promising new markets, Coface is launching its credit insurance offer in Greece, after having been granted a license from the Greek regulatory authority to operate as credit insurer. Coface is now able to strengthen its support to Greek businesses, by providing them with its recognised expertise in monitoring the credit-worthiness of millions of companies all over the world, and by protecting their commercial transactions.
Greece has undertaken reforms which pave the way for a promising credit insurance market. The consolidation of public accounts and reinforced fiscal credibility has enabled the country to make its return to international markets and to partially lift controls on capital. Greek companies have become more competitive, have reduced their debt and are now more export-oriented. This has fostered development of new sectors and allowed the productive fabric to evolve.
Commenting on the opening, Xavier Durand, CEO of Coface, said:
"Our Greek license extends Coface's historically strong presence in the Mediterranean and Africa region, which represented 27% of the Group's revenues in 2018. Greece is a promising market for Coface, where business confidence is improving, and growth is expected to be buoyant in 2019. Our direct credit insurance offer in Greece will reinforce Coface's support to local businesses, which up to now were served through our international network."
| CONTACTS | |
| MEDIA RELATIONS Monica COULL T. +33 (0)1 49 02 25 01 monica.coull@coface.com Maria KRELLENSTEIN T. +33 (0)1 49 02 16 29 maria.krellenstein@coface.com | ANALYSTS / INVESTORS Thomas JACQUET T. +33 (0)1 49 02 12 58 thomas.jacquet@coface.com Benoît CHASTEL T. +33 (0)1 49 02 22 28 benoit.chastel@coface.com |
FINANCIAL CALENDAR 2019 (subject to change)
Q1-2019 results: 24 April 2019 (after market close)
Annual General Shareholders' Meeting 2018: 16 May 2019
H1-2019 results: 25 July 2019 (after market close)
9M-2019 results: 23 October 2019 (after market close)
FINANCIAL INFORMATION
This press release, as well as COFACE SA's integral regulatory information, can be found on the Group's website:
http://www.coface.com/Investors
For regulated information on Alternative Performance Measures (APM)
please refer to our Interim Financial Report for S1-2017 and our 2017 Registration Document.
| Coface: for trade - Building business together 70 years of experience and the most finely meshed network have made Coface a reference in credit insurance, risk management and the global economy. With the ambition to become the most agile global trade credit insurance partner in the industry, Coface's experts work to the beat of the world economy, supporting 50,000 clients in building successful, growing and dynamic businesses. The Group's services and solutions protect and help companies take credit decisions to improve their ability to sell on both their domestic and export markets. In 2018, Coface employed ~4,100 people and registered turnover of €1.4 billion. www.coface.com COFACE SA. is listed on Euronext Paris - Compartment A ISIN: FR0010667147 / Ticker: COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 "Main risk factors and their management within the Group" of the Coface Group's 2017 Registration Document filed with AMF on 5 April 2018 under the number No. D.18-0267 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.
