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Turkey Payment Survey 2019: better picture in payment term but companies remain cautions regarding economic prospects

02/03/2020

Right after the recession that the economy went into during the second half of 2018 the private sector remains mixed in terms of the economic outlook.
Payment terms: shorter terms reflect preference for liquidity
The deterioration of cash flow has slowed down and fewer companies expressed tougher conditions while making their payments. Nowadays, the average payment term offered by Turkish companies to their clients stood nearly at 85 days in the domestic market and at 69 days in export markets (vs 108 days in 2017).

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Coface Study: Retail Sale in Non-specialized Stores Sector – positive evolution of revenues in 2018, with an 8% increase compared to previous year

01/30/2020

A new study conducted by Coface Romania on the sector of "Retail sale in non-specialised stores with food, beverages or tobacco predominating” (NACE 4711) indicates a positive evolution of revenues in 2018, which increased with approximately 8% compared to 2017, with a slightly lower profitability. The study aggregated the data of 42.051 companies that submitted their financial situation for 2018 (as of September 2019) and generated a consolidated turnover of RON 71.96 billion. The weight of the cumulative market share held by the most important 10 players is 61%, which indicates a medium to high degree of concentration.

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Coface Study: Revenues from the sector of retail with pharmaceutical products in specialized stores increased by 15% in 2018 compared to 2017

01/14/2020

A new study conducted by Coface Romania on the sector of "Retail with Pharmaceutical Products in Specialized Stores” (NACE 4773) indicates a positive evolution of revenues in 2018, which increased with approximately 15% compared to 2017, with a slightly higher profitability. The study aggregated the data of 4.425 companies that submitted their financial situation for 2018 (as of September 2019) and generated a consolidated turnover of RON 19.07 billion. The weight of the cumulative market share held by the most important 10 players is 31%, which indicates a low degree of concentration.

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AM Best affirms A (Excellent) rating to Coface North America Insurance Company, with stable outlook

01/06/2020

Rating agency AM Best, on 17 December 2019, has affirmed Coface North America Insurance Company’s ‘A’ (Excellent) Insurer Financial Strength (IFS) rating, with a stable outlook.
Coface North America Insurance Company (CNAIC) is a major credit-insurance operating entity of the Coface Group and its main vehicle to access the large North American market.
In its press release, AM Best highlights that this rating reflects “Coface’s balance sheet strength, which A.M. Best categorises as very strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management”.

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