- German companies have switched to “crisis-mode” and offer less payment terms
- Coface Barometer Q1 2020 - COVID-19: heading towards a sudden global surge in business insolvencies
- Turkey Payment Survey 2019: better picture in payment term but companies remain cautions regarding economic prospects
News & Publications
Coface publishes CEE Top 500 companies: Do external risks overshadow long-lasting solid economic growth in Central and Eastern Europe?09/18/2019
The international credit insurance company presents its eleventh annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The economic development of the CEE Top 500 is representative of the market trend in the entire region.
Overall, the Chinese economy expanded by 2.3% in 2020, being the only major economy to record growth, and Coface expects the GDP to accelerate to a 7.5% growth in 2021.This would be the fastest pace since 2013, and comfortably above the minimum of 6% set by the authorities.
Insolvencies in Germany dropped significantly in 2020 compared to 2019, despite the worst recession since 2009. This is largely thanks to public support programmes. However, the early-announced applications for regular insolvency proceedings (Regelinsolvenzverfahren) at courts already increased sharply in February and March, signaling a pending increase in corporate insolvencies in the next months. Coface’s forecasting model shows that up to 4030 insolvencies were prevented by the State-support in 2020, which is now in single parts being withdrawn, and could take place in 2021/22. From a corporate perspective, the crisis is far from over.
As a leading player in credit insurance, Coface supports companies with guarantee instruments that help them take part, in safe conditions, in public procurement procedures. The surety bonds offered by Coface represent a viable alternative to the letter of credit and are dedicated to companies involved in public procurement contracts.
More than a year after the start of the pandemic, global economic trends are uneven due to lingering uncertainties around the spread of COVID-19. The acceleration of the vaccination process, as well as its effectiveness, are key to an economic recovery. In this context, the prospects for a return to normalcy are both uneven and uncertain across sectors of activity and geography, according to the latest barometer from Coface.
Turnover: €378m, up 4.2% at constant FX and perimeter
Trade credit insurance growing by 6.1% at constant FX benefiting from stabilising client activity
Client retention close to record highs; positive price effect (+2.9%)
Business Information continues to grow (+9% at constant FX)
Factoring and debt collection down on lower volumes
- China: rising payment risks in construction and energy sectors despite stronger economic outlook
- Germany: More insolvencies in the pipeline, despite significant aid
- Coface Quarterly Barometer: US leads the global recovery, emerging economies lag behind