Coface Records Slight Growth in Revenue Over Nine Months

Performance Overview for the First Three Quarters

During the first three quarters of 2025, Coface achieved a revenue of 1,386.5 million euros, an increase of 1.8% compared to the previous year on a constant scope and exchange rate basis. Credit insurance premiums rose by 1.1% at constant exchange rates, while client activity grew by 2.1%. However, the company's net income, attributable to the group, decreased by 15.1%, reaching 176.3 million euros. The net loss ratio increased by 4.1 percentage points to 39.6%, and the net combined ratio of reinsurance reached 71.9%, up by 7.6 percentage points.

Strategic Appointments and Service Expansion

Coface has appointed Christina Montes de Oca as the General Manager for the North America region. The company continues to invest in strengthening its service offerings, with a notable growth of 10.7% in services during the third quarter. Information services experienced a double-digit growth of 14.5% at constant exchange rates, and debt recovery increased by 38.5%. Additionally, Coface's management continues to navigate a challenging economic environment, marked by the implementation of trade barriers in the United States and a decline in commodity prices.

Economic Context and Future Outlook

In an economic environment characterized by geopolitical tensions and fluctuations in commodity prices, Coface has seen a modest but steady advance in its revenues, despite a decline in net income. The credit insurance market faces increased competition and does not anticipate growth in the short term. In response, Coface is continuing its investments in technology, data, and distribution. Complementary services now represent nearly 11% of the group's revenues. Economic prospects are also influenced by political and economic changes, including a drop in oil prices and adjustments in interest rates by central banks.