News & Publications

News & Publications

News

COFACE REPORTS A POSITIVE NET INCOME OF €11.3M FOR THE SECOND QUARTER 2020 AND CONTINUES TO IMPLEMENT ITS STRATEGIC PLAN

07/30/2020

Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter
Client retention and new business achieve record levels, with a positive net production of €33m
First effects of re-pricing are now visible (+0.2%)
Revenues from services progress by 7%, including information services up by 13%
Client activities continue to slowdown – a trend expected to continue over the following quarters

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POST-PANDEMIC PRODUCTION RELOCATION: AN OPPORTUNITY FOR CEE COUNTRIES?

07/27/2020

Here are the main points addressed in this Coface study:

A favourable context
Foreign trade and inclusion in supply chains had already increased for Central & Eastern European (CEE) in recent years, boosted by most of its countries’ decision to join the European Union (EU) in 2004.

Strong assets
• An educated workforce
• Geographical proximity to Western Europe
• Low labour costs
• Relatively good infrastructure
• A stable business climate
• Improving productivity through greater use of automation and "robotization

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GLOBAL TRANSPORT: WHAT DOES THE FUTURE HOLD BEYOND COVID-19?

07/21/2020

Here are the main points addressed in this study.
Coface does not expect the sector to recover to fourth quarter 2019 level before 2022.
In Coface’s central scenario, the turnover of listed companies of the global transport sector will be 32% lower in the 4th quarter 2020 and 5% lower in the 4th quarter 2021 than in the 4th quarter 2019.
In the hypothesis of a second wave of the pandemic in the 3rd quarter of 2020, the turnover would be 57% lower in the 4th 2020 and 27% lower in the 4th 2021.
The impact of COVID-19 is all the more important since economic activity was already slowing down before the crisis.

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United States: Two-speed business bankruptcies

07/14/2020

As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.

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Asia Corporate Payment Survey 2020: COVID-19 will overturn last year’s incipient recovery

07/06/2020

After a 2019 that was dominated by trade tensions between the United States and China, Coface has observed an incipent recovery in Asia (excluding China), supported by supply chain shifts and additional liquidity from the US Federal Reserve . Average payment terms improved in 2019, rising to 67 days compared to 69 days in 2018. And while 65% of companies reported experiencing payment delays in 2019 (63% in 2018), the average payment duration decreased to 85 days in 2019, down from 88 days in 2018.

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