FOCUS: ARE CORPORATE BALANCE SHEETS IN SPAIN AND ITALY READY FOR THE COVID-19 SHOCK?

Spain and Italy will be amongst the economies hardest hit by COVID-19, contracting by 12.8% and 13.6% respectively in 2020, according to Coface’s forecasts. Taking a closer look at the health of Spanish and Italian corporate balance sheets should help identify pockets of vulnerability where widespread defaults are more likely to materialize.

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COUNTRY & SECTOR RISK BAROMETER: Q2 2020 QUARTERLY UPDATE

From a massive shock to a differentiated recovery

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CHINA PAYMENT SURVEY 2020: PAYMENT DELAYS WILL INCREASE FURTHER BECAUSE OF COVID-19

Our survey shows a deterioration in payment behaviour in 2019, which ultimately does not bode well for Chinese companies in the context of weaker activity in 2020. Coface expects growth to fall to 1.0%, the lowest level in 30 years, so given the historic correlation between economic activity and payment delays, we anticipate a sharp deterioration in 2020.

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CAN CHINA SHIELD ITS ECONOMY FROM THE IMPACT OF COVID-19?

Due to the current coronavirus (COVID-19) pandemic and its impact on the global economy, it is unlikely that China will be able to achieve its 2020 growth target. Coface forecasts a growth rate of 4% for the Chinese economy in 2020.

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Coface introduces CRAFT, a new forecasting tool to estimate growth in the Eurozone

Recession or slight decline, CRAFT provides the keys to the slowdown in the major economies of the Eurozone.
Since the beginning of 2019, there have been increasing signs of a slowdown in global growth. While all economists agree on this downward trend, after reaching the peak of the cycle in 2017, the question mark now lies in the extent of this slowdown, particularly in the Eurozone. While some people mention a recession in 2020, most economists predict "only" a slight slowdown.
To have more clarity, it is therefore important to have reliable and innovative forecasting tools to take advantage of existing indicators. This is why Coface has decided to develop its own forecasting tool: CRAFT (Coface Research Activity Forecasting Tool).

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Sector risk assessments - July 2019

13 major sectors assessed worldwide. Coface assessments are based on 70 years of Coface expertise and on the financial data published by listed companies from 6 geographical sectors. 5 financial indicators are taken into account: turnover, profitability, the net debt ratio, cashflow, and claims observed by our risk managers.

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2016 Activity report

2016, working towards the in-depth transformation of our Group. We aim to make Coface the most agile global credit insurance partner in the industry.

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Panorama Poland payment survey - Payment delays pervade polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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2015 Activity report

Whatever their size, nationality or sector, we inform our customers about current market issues to assist them in controlling their financial risks. To do so, we provide our international business expertise, country and sector risk assessments, accurate data on 80 million companies worldwide and a range of scalable, innovative products that suit their needs and business strategy.

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Iran: Sharp turn ahead, drive carefully

After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth through the oïl channel but above all, will bring huge changes to Iran itself. International sanctions have impacted the Iranian economy. Two consecutive years of negative growth and runaway inflation have tested Iran’s resistance model to its limit. The lifting of the EU embargo will allow Iran to revive its oil sector and return to the global market. The country is perceived as a new Eldorado, with its 78 million potential consumers.

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Egypt: slow recovery, structural challenges

Coface estimates that growth will increase to 4.4% for 2015/2016.

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2014 Activity report

Registration document 2014 including the Financial report

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2013 activity report

The group’s 2013 activity report is available. Besides elements on 2013 performance, the report contains general information about Coface, missions, governance, businesses, offer and analysis of the world macroeconomic situation.

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2012 Activity report

Jean-Marc Pillu, CEO of Coface:
"In 2012, we combined further profitability and growth, while continuing to assist our customers".

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2011 Activity report

Jean-Marc Pillu, CEO of Coface: «In 2011, we achieved our goal of refocusing our operations on credit insurance».

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