View Future GrowthCOFACE 過去の業績過去 基準チェック /26COFACEは、平均年間4.5%の収益成長を遂げていますが、 Insurance業界の収益は、年間 成長しています。収益は、平均年間11.5% 3.1%収益成長率で 成長しています。 COFACEの自己資本利益率は9.5%であり、純利益率は11.7%です。主要情報4.45%収益成長率2.26%EPS成長率Insurance 業界の成長5.90%収益成長率3.08%株主資本利益率9.49%ネット・マージン11.71%次回の業績アップデート30 Jul 2026最近の業績更新お知らせ • Jan 02COFACE SA to Report First Half, 2026 Results on Jul 30, 2026COFACE SA announced that they will report first half, 2026 results on Jul 30, 2026お知らせ • Nov 04+ 1 more updateCOFACE SA to Report Nine Months, 2026 Results on Nov 02, 2026COFACE SA announced that they will report nine months, 2026 results on Nov 02, 2026お知らせ • Nov 03+ 1 more updateCOFACE SA to Report Q1, 2026 Results on May 12, 2026COFACE SA announced that they will report Q1, 2026 results After-Market on May 12, 2026お知らせ • Nov 06+ 3 more updatesCOFACE SA to Report Nine Months, 2025 Results on Nov 03, 2025COFACE SA announced that they will report nine months, 2025 results on Nov 03, 2025Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: €0.49 (vs €0.45 in 2Q 2023)Second quarter 2024 results: EPS: €0.49 (up from €0.45 in 2Q 2023). Revenue: €493.3m (up 3.6% from 2Q 2023). Net income: €73.8m (up 9.1% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year.Reported Earnings • May 07First quarter 2024 earnings released: EPS: €0.46 (vs €0.41 in 1Q 2023)First quarter 2024 results: EPS: €0.46 (up from €0.41 in 1Q 2023). Revenue: €470.1m (up 30% from 1Q 2023). Net income: €68.4m (up 12% from 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.すべての更新を表示Recent updatesお知らせ • May 22+ 1 more updateCOFACE SA Announces Board Changes, Effective May 19, 2026COFACE SA announced that the Combined General Meeting held on May 19, 2026 appointed Mrs. Anne-Sophie Chauveau-Galas as a director on the Board of Directors for a term of four years, in accordance with the provisions of Article 12 of the Bylaws. Her term will expire at the end of the General Meeting convened to approve the financial statements for the fiscal year ending December 31, 2029. The Board of Directors has determined that Mrs. Anne-Sophie Chauveau-Galas meets the independence criteria as defined in the AFEP-MEDEF Code. This appointment follows the expiry of Mrs. Sharon MacBeath’s term and becomes effective upon the end of the General Meeting held on May 19, 2026. The composition of the Board of Directors of COFACE SA remains unchanged, comprising 10 members (5 women and 5 men), with a majority serving as independent directors (6). Anne-Sophie Chauveau-Galas, born May 28, 1975, French nationality, joined Société Générale Group since 2023 as Chief Human Resources Officer. Anne-Sophie Chauveau-Galas started her career in 1998 with Alcatel and then BSN (Danone) in the field of Human Resources. Since 2001, Anne-Sophie has held various operational HR positions before becoming Talent Management Director in 2005 for the Alstom Power sector. She joined the HR department of the Transport sector in 2009 and subsequently became Vice President HR Europe and Social Relations of the ALSTOM Group in 2015. Anne-Sophie Chauveau-Galas was previously Chief Human Resources Officer and member of the ALSTOM Group Executive Committee from May 2019. She has accompanied the transformation of the company since 2019, notably with the merger and integration of Bombardier Transportation. Anne-Sophie holds a Master’s degree in Management from EDHEC Business School.Upcoming Dividend • May 20Upcoming dividend of €1.25 per shareEligible shareholders must have bought the stock before 26 May 2026. Payment date: 28 May 2026. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 7.6%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (4.5%).お知らせ • May 06COFACE SA Announces Executive Appointments, Effective May 1, 2026COFACE SA announced the appointment of Katarzyna Kompowska as CEO of Strategic Partnerships, covering all of the Group’s business lines. This appointment is fully in line with the strategic direction of the ‘Power the Core’ plan. It illustrates the Group’s strengthened ambition to develop partnerships with high growth potential that create value and sustainable synergies across its business lines. In this new position, her role will be to accelerate the development of strategic partnerships to drive commercial performance. She joins the Group Management Committee and reports directly to Xavier Durand, Chief Executive Officer of Coface. Christian Stoffel succeeds Katarzyna Kompowska as Managing Director of the Northern Europe region. Building on his experience as Sales Director for Northern Europe since April 2022, Christian Stoffel will continue to roll out the Group’s strategy in this key region, strengthening customer proximity, sales momentum and long-term value creation. These two appointments reflect a clear commitment to managerial and strategic continuity and support Coface’s ambition to further strengthen the growth drivers offered by partnerships. These changes take effect from 1 May 2026. Katarzyna Kompowska has over 30 years of experience in financial services and international business development. She joined Coface in 1992 and played a key role in establishing the company’s operations in Poland. She has been CEO of Coface for the Northern Europe Region, overseeing Germany, the Netherlands and Scandinavia since 2017. Previously, she served as CEO of the Central and Eastern Europe Region from 2012 to 2017, covering 14 countries. She has been a member of the Coface Group Executive Committee since 2012. Katarzyna holds a master’s degree in economics and business administration from the Warsaw School of Economics. Christian Stoffel joined the company in 2019 as Chairman of the Management Board of the German factoring entity Coface Finanz. Prior to Coface, he held several senior positions in the financial services sector, including Chief Commercial Officer at TARGO Commercial Finance and Commercial Director Factoring at GE Capital. With nearly 30 years of experience, Christian brings both strategic vision and operational depth. He holds a degree in Business Administration (Banking and Finance) from DHBW Mannheim.お知らせ • Apr 10COFACE SA, Annual General Meeting, May 19, 2026COFACE SA, Annual General Meeting, May 19, 2026. Location: 1 place costes et bellonte, bois colombes Franceお知らせ • Feb 20COFACE SA Proposes Dividend Payment for the Full Year Ended 31 December 2025COFACE SA proposed €1.25 dividend per share for the full year ended 31 December 2025, at the Shareholders’ meeting, corresponding to a payout ratio of 84%, in line with its capital management policy.お知らせ • Jan 15Coface Appoints Alix McCabe as Chief Strategy OfficerCoface has announced the appointment of a chief strategy officer. The firm has appointed Alix McCabe to the position for North America. The new appointee will guide strategy and growth initiatives across markets, products, and people. She brings more than 20 years of international leadership experience.お知らせ • Jan 02COFACE SA to Report First Half, 2026 Results on Jul 30, 2026COFACE SA announced that they will report first half, 2026 results on Jul 30, 2026お知らせ • Nov 04+ 1 more updateCOFACE SA to Report Nine Months, 2026 Results on Nov 02, 2026COFACE SA announced that they will report nine months, 2026 results on Nov 02, 2026お知らせ • Nov 03+ 1 more updateCOFACE SA to Report Q1, 2026 Results on May 12, 2026COFACE SA announced that they will report Q1, 2026 results After-Market on May 12, 2026お知らせ • Sep 16Coface SA Announces Changes of CEO in North America RegionCoface SA announced the appointment of Christina Montes De Oca as the new CEO in North America Region, with effect from 15 September 2025 . Christina joins the Executive Committee and reports to Xavier Durand, Group CEO. She takes over Oscar Villalonga who is pursuing his career outside the Group. Christina brings a wealth of experience in commercial strategy, business development, and sales operations within the trade credit insurance industry. Most recently, Christina served as Managing Director and US Trade Credit Practice Leader at Marsh & McLennan Companies, where she led the market- leading trade credit brokerage practice in the US, steering strategic initiatives and managing a high-performing national team. Prior to this, Christina was Chief Commercial Officer at Allianz Trade North America. Her expertise spans market research, product launches, distribution and go-to-market strategies, digital innovation, and global team management. Christina holds a Bachelor of Arts in Political Science from the University of Florida.お知らせ • Jul 18COFACE SA (ENXTPA:COFA) signed an agreement to acquire Novertur International SA.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Novertur International SA on July 17, 2025. The terms of the transaction are undisclosed. The completion of the acquisition remains subject to the usual closing conditions.お知らせ • Jul 03COFACE SA (ENXTPA:COFA) completed the acquisition of Cedar Rose International Services Ltd.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd on February 3, 2025. Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. The closing of the acquisition is subject to customary closing conditions. COFACE SA (ENXTPA:COFA) completed the acquisition of Cedar Rose International Services Ltd on July 2, 2025.お知らせ • Mar 12COFACE SA, Annual General Meeting, May 14, 2025COFACE SA, Annual General Meeting, May 14, 2025.お知らせ • Feb 27COFACE SA (ENXTPA:COFA) commences an Equity Buyback Plan, under the authorization approved on May 16, 2024.COFACE SA (ENXTPA:COFA) commences share repurchases on February 21, 2025, under the program mandated by the shareholders in the Combined Shareholders' Meeting held on May 16, 2024. As per the mandate, the company is authorized to repurchase it's own shares such that it not exceed the holding limit of 10% of its capital. The shares are repurchased so that the company does not hold more than 10% of its own share capital. The shares will be repurchased at a maximum price of €18 per share. The purpose of the program is to ensure liquidity and boost the market for the company’s stock through an investment service provider. The repurchased shares will be allocated to the corporate officers and employees of the company, kept by the company and subsequently remitted as payment or trade, cancelled ,or to transfer the company’s shares upon exercise of the rights attached to securities entitling their bearers, directly or indirectly, through reimbursement, conversion, exchange, presentation of a warrant or in any other manner, to the allocation of the company’s shares pursuant to current regulations. The program will be valid for 18 months from the date of the Combined Shareholders' Meeting.お知らせ • Feb 20+ 2 more updatesCoface Sa Proposes DividendCOFACE SA proposed dividend of €1.40 per share representing an 80% pay-out ratio.お知らせ • Feb 04COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd on February 3, 2025. Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. The closing of the acquisition is subject to customary closing conditions.お知らせ • Nov 06+ 3 more updatesCOFACE SA to Report Nine Months, 2025 Results on Nov 03, 2025COFACE SA announced that they will report nine months, 2025 results on Nov 03, 2025New Risk • Oct 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: €0.49 (vs €0.45 in 2Q 2023)Second quarter 2024 results: EPS: €0.49 (up from €0.45 in 2Q 2023). Revenue: €493.3m (up 3.6% from 2Q 2023). Net income: €73.8m (up 9.1% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year.お知らせ • Aug 06COFACE SA Announces Board ChangesAt its meeting on 5 August 2024, the Board of Directors of COFACE SA co-opted Marcy Rathman, Chief Environmental, Social and Governance Officer of Arch Capital Services LLC (Arch), as a non-independent director at the Board of Directors of COFACE SA. She takes the place of Chris Hovey who leaves the Board of directors to focus on his other professional responsibilities within Arch. Marcy Rathman was promoted to Executive Vice President, Chief Environmental, Social and Governance Officer of Arch Capital Services LLC in March 2022. She was initially named Senior Vice President, Chief ESG Officer in May 2019. She joined Arch’s legal team in December of 2000 and served as an attorney for Arch for close to 20 years, supporting the General Counsel and many of Arch’s governance and compliance policies. Marcy Rathman holds a B.A. from Tufts University and a law degree from Cardozo School of Law.Upcoming Dividend • May 15Upcoming dividend of €1.30 per shareEligible shareholders must have bought the stock before 22 May 2024. Payment date: 24 May 2024. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 8.4%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (4.3%).お知らせ • May 15Coface Announces Executive ChangesCoface is announcing two changes in the Mediterranean and Africa region management with the appointments of Ernesto de Martinis as Managing Director for the region. These changes will be effective from 1 July 2024. Ernesto is based in Milan and will report to Xavier Durand, CEO of Coface. He replaces Cécile Paillard who will continue her career outside the Group. Ernesto joined Coface in 2000 and was appointed Country Manager of Coface Italy in 2012. Under his leadership, Coface Italy has become the largest contributor to Coface's turnover and a strong, profitable, and diversified entity with a leading position in the credit insurance and bonding market. The development of business information is a new growth area in the Italian market, benefiting from positive momentum. Ernesto objective will be to enable Coface to continue its growth trajectory and to play a key role in the 2024-2027 "Power the core" strategic plan.Reported Earnings • May 07First quarter 2024 earnings released: EPS: €0.46 (vs €0.41 in 1Q 2023)First quarter 2024 results: EPS: €0.46 (up from €0.41 in 1Q 2023). Revenue: €470.1m (up 30% from 1Q 2023). Net income: €68.4m (up 12% from 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.Reported Earnings • Apr 15Full year 2023 earnings released: EPS: €1.61 (vs €1.61 in FY 2022)Full year 2023 results: EPS: €1.61 (up from €1.61 in FY 2022). Revenue: €1.88b (up 2.5% from FY 2022). Net income: €240.5m (flat on FY 2022). Profit margin: 13% (in line with FY 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.Declared Dividend • Apr 10Dividend of €1.30 announcedShareholders will receive a dividend of €1.30. Ex-date: 22nd May 2024 Payment date: 24th May 2024 Dividend yield will be 8.9%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 4.9% over the next 3 years. However, it would need to fall by 12% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • Mar 01Full year 2023 earnings released: EPS: €1.62 (vs €1.90 in FY 2022)Full year 2023 results: EPS: €1.62 (down from €1.90 in FY 2022). Revenue: €1.84b (down 2.2% from FY 2022). Net income: €240.5m (down 15% from FY 2022). Profit margin: 13% (down from 15% in FY 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Reported Earnings • Nov 19Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €455.8m (down 9.1% from 3Q 2022). Net income: €60.9m (down 28% from 3Q 2022). Profit margin: 13% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Insurance industry in Germany.お知らせ • Nov 15+ 4 more updatesCOFACE SA to Report Nine Months, 2024 Results on Nov 05, 2024COFACE SA announced that they will report nine months, 2024 results on Nov 05, 2024Reported Earnings • May 28First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €472.5m (up 6.6% from 1Q 2022). Net income: €61.2m (down 7.7% from 1Q 2022). Profit margin: 13% (down from 15% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 15Upcoming dividend of €1.52 per share at 11% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 11%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.5%).お知らせ • Feb 17+ 2 more updatesCOFACE SA to Report Nine Months, 2023 Results on Nov 14, 2023COFACE SA announced that they will report nine months, 2023 results on Nov 14, 2023お知らせ • Jan 31COFACE SA (ENXTPA:COFA) acquired rel8ed.toCOFACE SA (ENXTPA:COFA) acquired rel8ed.to on January 30, 2023. COFACE SA (ENXTPA:COFA) completed the acquisition of rel8ed.to on January 30, 2023.Board Change • Nov 16High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Independent Director Nathalie Lomon is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.お知らせ • Oct 28+ 1 more updateCOFACE SA, Annual General Meeting, May 16, 2023COFACE SA, Annual General Meeting, May 16, 2023.Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €476.1m (up 19% from 2Q 2021). Net income: €78.2m (up 17% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 4.3%, compared to a 22% growth forecast for the industry in Germany.Valuation Update With 7 Day Price Move • May 25Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €10.54, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Insurance industry in Germany. Total returns to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.78 per share.Buying Opportunity • May 21Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €14.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is forecast to decline by 3.8% per annum over the same time period.お知らせ • May 18COFACE SA Approves Payment of Dividend for the 2021 Financial Year, Payable on May 24, 2022COFACE SA at its Combined Shareholders’ Meeting held on May 17, 2022, approved the payment of a dividend of €1.50 per share for the 2021 financial year with the coupon date set at May 20, 2022, and the payment date at May 24, 2022.Upcoming Dividend • May 13Upcoming dividend of €1.50 per shareEligible shareholders must have bought the stock before 20 May 2022. Payment date: 24 May 2022. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 13%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (4.8%).お知らせ • May 03Coface Appoints Hugh Burke as CEO of Asia-Pacific RegionCoface appointed Hugh Burkeas the CEO of CofaceAsia-Pacific Region, effective on April 1, 2022. He joins the Group executive committee and reports to Xavier Durand, Coface CEO. He takes over from Bhupesh Gupta who has significantly contributed to transforming the company’s culture during the past 6 years and has managed the operations in the region through the sanitary crisis with courage and accountability. Bupesh has built a solid group of leaders and experts who will support the development of Coface’s in the Asia-Pacific markets. Hugh joined Coface as Chief Commercial Officer for the Asia-Pacific region in 2016. Based in Hong Kong, he successfully led the region’s commercial transformation, with record year-on-year growth since 2018. Coface is now recognised as a market leader by clients and partners in Asia-Pacific.Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Independent Director David Gansberg was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 10Full year 2021 earnings released: EPS: €1.50 (vs €0.55 in FY 2020)Full year 2021 results: EPS: €1.50 (up from €0.55 in FY 2020). Revenue: €1.60b (up 8.0% from FY 2020). Net income: €223.8m (up 170% from FY 2020). Profit margin: 14% (up from 5.6% in FY 2020). The increase in margin was primarily driven by higher revenue. Combined ratio: 64.6% (down from 79.8% in FY 2020). Over the next year, revenue is forecast to grow 1.7%, compared to a 19% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Mar 05Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be €12.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% per annum over the last 3 years. Earnings per share has grown by 21% per annum over the last 3 years.Reported Earnings • Feb 21Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.50 (up from €0.55 in FY 2020). Revenue: €1.61b (up 8.5% from FY 2020). Net income: €223.8m (up 170% from FY 2020). Profit margin: 14% (up from 5.6% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 3.0%, compared to a 14% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year.お知らせ • Feb 16CONFACE SA Proposes DividendCOFACE SA Proposed Dividend, during the Shareholders’ Meeting, the distribution of a dividend of €1.50 per share, which corresponds to a 100% pay-out ratio.Reported Earnings • Oct 31Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €403.8m (up 7.9% from 3Q 2020). Net income: €67.7m (up 138% from 3Q 2020). Profit margin: 17% (up from 7.6% in 3Q 2020). The increase in margin was primarily driven by higher revenue.Executive Departure • Sep 15Chief Executive Officer of Latin America Region Carmina Sanchez has left the companyDuring their tenure, earnings grew by 13% annually compared to the industry average, which went down by 1.1%. On the 13th of September, Carmina Sanchez left the company after 3.2 in the role. We don't have any record of a personal shareholding under Carmina's name. Carmina is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.75 years.Board Change • Aug 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Independent Director David Gansberg was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 02Second quarter 2021 earnings released: EPS €0.45 (vs €0.075 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €400.2m (up 8.7% from 2Q 2020). Net income: €66.9m (up 492% from 2Q 2020). Profit margin: 17% (up from 3.1% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth.Upcoming Dividend • May 12Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (4.2%).Reported Earnings • May 02First quarter 2021 earnings released: EPS €0.38The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €383.7m (up 2.8% from 1Q 2020). Net income: €56.4m (up 345% from 1Q 2020). Profit margin: 15% (up from 3.4% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Apr 17COFACE SA Provides Earnings Guidance for the First Quarter 2021COFACE SA provided earnings guidance for the first quarter 2021. For the quarter, the company expects net profit above €50 million.Reported Earnings • Apr 11Full year 2020 earnings released: EPS €0.55 (vs €0.97 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.48b (down 2.3% from FY 2019). Net income: €82.9m (down 44% from FY 2019). Profit margin: 5.6% (down from 9.7% in FY 2019). The decrease in margin was primarily driven by lower revenue. Combined ratio: 79.8% (up from 77.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.Reported Earnings • Feb 12Full year 2020 earnings released: EPS €0.55 (vs €0.97 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.48b (down 2.3% from FY 2019). Net income: €82.9m (down 44% from FY 2019). Profit margin: 5.6% (down from 9.7% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.Analyst Estimate Surprise Post Earnings • Feb 12Revenue beats expectationsRevenue exceeded analyst estimates by 0.04%. Over the next year, revenue is forecast to stay flat compared to a 15% growth forecast for the Insurance industry in Germany.Is New 90 Day High Low • Feb 12New 90-day high: €9.09The company is up 8.0% from its price of €8.39 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.25 per share.お知らせ • Feb 11COFACE SA Appoints Bernardo Sanchez Incera as ChairmanCOFACE SA announced the arrival of 5 new directors, including one independent director and the appointment of Bernardo Sanchez Incera as Chairman.Is New 90 Day High Low • Jan 08New 90-day high: €8.89The company is up 42% from its price of €6.28 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.06 per share.Valuation Update With 7 Day Price Move • Nov 10Market bids up stock over the past weekAfter last week's 20% share price gain to €8.10, the stock is trading at a trailing P/E ratio of 13.3x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 10x in the Insurance industry in Germany. Total returns to shareholders over the past three years were flat.Is New 90 Day High Low • Nov 07New 90-day high: €7.53The company is up 13% from its price of €6.67 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.04 per share.お知らせ • Oct 28+ 3 more updatesCOFACE SA to Report Nine Months, 2021 Results on Oct 28, 2021COFACE SA announced that they will report nine months, 2021 results on Oct 28, 2021Is New 90 Day High Low • Oct 02New 90-day low: €5.84The company is down 5.0% from its price of €6.12 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.56 per share.お知らせ • Sep 16COFACE SA to Report Nine Months, 2020 Results on Oct 26, 2020COFACE SA announced that they will report nine months, 2020 results on Oct 26, 2020収支内訳COFACE の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史DB:65C 収益、費用、利益 ( )EUR Millions日付収益収益G+A経費研究開発費31 Mar 261,824214708031 Dec 251,824222700030 Sep 251,797230716030 Jun 251,753243725031 Mar 251,755255701031 Dec 241,778261656030 Sep 241,803258522030 Jun 241,871254760031 Mar 241,879248617031 Dec 231,879241613030 Sep 231,885244958030 Jun 231,905234611031 Mar 231,876249609031 Dec 221,833240604030 Sep 221,75621966030 Jun 221,683235304031 Mar 221,639220289031 Dec 211,595224271030 Sep 211,561221271030 Jun 211,532182263031 Mar 211,488127255031 Dec 201,47883262030 Sep 201,49382272030 Jun 201,49692272031 Mar 201,521123278031 Dec 191,519147275030 Sep 191,480141242030 Jun 191,474138249031 Mar 191,444123247001 Jan 191,426122241030 Sep 181,420126261030 Jun 181,387126248031 Mar 181,392111250001 Jan 181,40283254030 Sep 171,40282257030 Jun 171,43536267031 Mar 171,43727274031 Dec 161,45042275030 Sep 161,51542275030 Jun 161,48686275031 Mar 161,515108272031 Dec 151,540126270030 Sep 151,513120278030 Jun 151,5271222750質の高い収益: 65Cは 高品質の収益 を持っています。利益率の向上: 65Cの現在の純利益率 (11.7%)は、昨年(14.5%)よりも低くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: 65Cの収益は過去 5 年間で年間4.5%増加しました。成長の加速: 65Cは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。収益対業界: 65Cは過去 1 年間で収益成長率がマイナス ( -16.2% ) となったため、 Insurance業界平均 ( 32.1% ) と比較することが困難です。株主資本利益率高いROE: 65Cの 自己資本利益率 ( 9.5% ) は 低い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YInsurance 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/24 23:56終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋COFACE SA 4 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。11 アナリスト機関Aurelia Sarah FaureBanco SantanderMichael HuttnerBerenbergDominic O'MahonyBNP Paribas8 その他のアナリストを表示
お知らせ • Jan 02COFACE SA to Report First Half, 2026 Results on Jul 30, 2026COFACE SA announced that they will report first half, 2026 results on Jul 30, 2026
お知らせ • Nov 04+ 1 more updateCOFACE SA to Report Nine Months, 2026 Results on Nov 02, 2026COFACE SA announced that they will report nine months, 2026 results on Nov 02, 2026
お知らせ • Nov 03+ 1 more updateCOFACE SA to Report Q1, 2026 Results on May 12, 2026COFACE SA announced that they will report Q1, 2026 results After-Market on May 12, 2026
お知らせ • Nov 06+ 3 more updatesCOFACE SA to Report Nine Months, 2025 Results on Nov 03, 2025COFACE SA announced that they will report nine months, 2025 results on Nov 03, 2025
Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: €0.49 (vs €0.45 in 2Q 2023)Second quarter 2024 results: EPS: €0.49 (up from €0.45 in 2Q 2023). Revenue: €493.3m (up 3.6% from 2Q 2023). Net income: €73.8m (up 9.1% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year.
Reported Earnings • May 07First quarter 2024 earnings released: EPS: €0.46 (vs €0.41 in 1Q 2023)First quarter 2024 results: EPS: €0.46 (up from €0.41 in 1Q 2023). Revenue: €470.1m (up 30% from 1Q 2023). Net income: €68.4m (up 12% from 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.
お知らせ • May 22+ 1 more updateCOFACE SA Announces Board Changes, Effective May 19, 2026COFACE SA announced that the Combined General Meeting held on May 19, 2026 appointed Mrs. Anne-Sophie Chauveau-Galas as a director on the Board of Directors for a term of four years, in accordance with the provisions of Article 12 of the Bylaws. Her term will expire at the end of the General Meeting convened to approve the financial statements for the fiscal year ending December 31, 2029. The Board of Directors has determined that Mrs. Anne-Sophie Chauveau-Galas meets the independence criteria as defined in the AFEP-MEDEF Code. This appointment follows the expiry of Mrs. Sharon MacBeath’s term and becomes effective upon the end of the General Meeting held on May 19, 2026. The composition of the Board of Directors of COFACE SA remains unchanged, comprising 10 members (5 women and 5 men), with a majority serving as independent directors (6). Anne-Sophie Chauveau-Galas, born May 28, 1975, French nationality, joined Société Générale Group since 2023 as Chief Human Resources Officer. Anne-Sophie Chauveau-Galas started her career in 1998 with Alcatel and then BSN (Danone) in the field of Human Resources. Since 2001, Anne-Sophie has held various operational HR positions before becoming Talent Management Director in 2005 for the Alstom Power sector. She joined the HR department of the Transport sector in 2009 and subsequently became Vice President HR Europe and Social Relations of the ALSTOM Group in 2015. Anne-Sophie Chauveau-Galas was previously Chief Human Resources Officer and member of the ALSTOM Group Executive Committee from May 2019. She has accompanied the transformation of the company since 2019, notably with the merger and integration of Bombardier Transportation. Anne-Sophie holds a Master’s degree in Management from EDHEC Business School.
Upcoming Dividend • May 20Upcoming dividend of €1.25 per shareEligible shareholders must have bought the stock before 26 May 2026. Payment date: 28 May 2026. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 7.6%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (4.5%).
お知らせ • May 06COFACE SA Announces Executive Appointments, Effective May 1, 2026COFACE SA announced the appointment of Katarzyna Kompowska as CEO of Strategic Partnerships, covering all of the Group’s business lines. This appointment is fully in line with the strategic direction of the ‘Power the Core’ plan. It illustrates the Group’s strengthened ambition to develop partnerships with high growth potential that create value and sustainable synergies across its business lines. In this new position, her role will be to accelerate the development of strategic partnerships to drive commercial performance. She joins the Group Management Committee and reports directly to Xavier Durand, Chief Executive Officer of Coface. Christian Stoffel succeeds Katarzyna Kompowska as Managing Director of the Northern Europe region. Building on his experience as Sales Director for Northern Europe since April 2022, Christian Stoffel will continue to roll out the Group’s strategy in this key region, strengthening customer proximity, sales momentum and long-term value creation. These two appointments reflect a clear commitment to managerial and strategic continuity and support Coface’s ambition to further strengthen the growth drivers offered by partnerships. These changes take effect from 1 May 2026. Katarzyna Kompowska has over 30 years of experience in financial services and international business development. She joined Coface in 1992 and played a key role in establishing the company’s operations in Poland. She has been CEO of Coface for the Northern Europe Region, overseeing Germany, the Netherlands and Scandinavia since 2017. Previously, she served as CEO of the Central and Eastern Europe Region from 2012 to 2017, covering 14 countries. She has been a member of the Coface Group Executive Committee since 2012. Katarzyna holds a master’s degree in economics and business administration from the Warsaw School of Economics. Christian Stoffel joined the company in 2019 as Chairman of the Management Board of the German factoring entity Coface Finanz. Prior to Coface, he held several senior positions in the financial services sector, including Chief Commercial Officer at TARGO Commercial Finance and Commercial Director Factoring at GE Capital. With nearly 30 years of experience, Christian brings both strategic vision and operational depth. He holds a degree in Business Administration (Banking and Finance) from DHBW Mannheim.
お知らせ • Apr 10COFACE SA, Annual General Meeting, May 19, 2026COFACE SA, Annual General Meeting, May 19, 2026. Location: 1 place costes et bellonte, bois colombes France
お知らせ • Feb 20COFACE SA Proposes Dividend Payment for the Full Year Ended 31 December 2025COFACE SA proposed €1.25 dividend per share for the full year ended 31 December 2025, at the Shareholders’ meeting, corresponding to a payout ratio of 84%, in line with its capital management policy.
お知らせ • Jan 15Coface Appoints Alix McCabe as Chief Strategy OfficerCoface has announced the appointment of a chief strategy officer. The firm has appointed Alix McCabe to the position for North America. The new appointee will guide strategy and growth initiatives across markets, products, and people. She brings more than 20 years of international leadership experience.
お知らせ • Jan 02COFACE SA to Report First Half, 2026 Results on Jul 30, 2026COFACE SA announced that they will report first half, 2026 results on Jul 30, 2026
お知らせ • Nov 04+ 1 more updateCOFACE SA to Report Nine Months, 2026 Results on Nov 02, 2026COFACE SA announced that they will report nine months, 2026 results on Nov 02, 2026
お知らせ • Nov 03+ 1 more updateCOFACE SA to Report Q1, 2026 Results on May 12, 2026COFACE SA announced that they will report Q1, 2026 results After-Market on May 12, 2026
お知らせ • Sep 16Coface SA Announces Changes of CEO in North America RegionCoface SA announced the appointment of Christina Montes De Oca as the new CEO in North America Region, with effect from 15 September 2025 . Christina joins the Executive Committee and reports to Xavier Durand, Group CEO. She takes over Oscar Villalonga who is pursuing his career outside the Group. Christina brings a wealth of experience in commercial strategy, business development, and sales operations within the trade credit insurance industry. Most recently, Christina served as Managing Director and US Trade Credit Practice Leader at Marsh & McLennan Companies, where she led the market- leading trade credit brokerage practice in the US, steering strategic initiatives and managing a high-performing national team. Prior to this, Christina was Chief Commercial Officer at Allianz Trade North America. Her expertise spans market research, product launches, distribution and go-to-market strategies, digital innovation, and global team management. Christina holds a Bachelor of Arts in Political Science from the University of Florida.
お知らせ • Jul 18COFACE SA (ENXTPA:COFA) signed an agreement to acquire Novertur International SA.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Novertur International SA on July 17, 2025. The terms of the transaction are undisclosed. The completion of the acquisition remains subject to the usual closing conditions.
お知らせ • Jul 03COFACE SA (ENXTPA:COFA) completed the acquisition of Cedar Rose International Services Ltd.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd on February 3, 2025. Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. The closing of the acquisition is subject to customary closing conditions. COFACE SA (ENXTPA:COFA) completed the acquisition of Cedar Rose International Services Ltd on July 2, 2025.
お知らせ • Mar 12COFACE SA, Annual General Meeting, May 14, 2025COFACE SA, Annual General Meeting, May 14, 2025.
お知らせ • Feb 27COFACE SA (ENXTPA:COFA) commences an Equity Buyback Plan, under the authorization approved on May 16, 2024.COFACE SA (ENXTPA:COFA) commences share repurchases on February 21, 2025, under the program mandated by the shareholders in the Combined Shareholders' Meeting held on May 16, 2024. As per the mandate, the company is authorized to repurchase it's own shares such that it not exceed the holding limit of 10% of its capital. The shares are repurchased so that the company does not hold more than 10% of its own share capital. The shares will be repurchased at a maximum price of €18 per share. The purpose of the program is to ensure liquidity and boost the market for the company’s stock through an investment service provider. The repurchased shares will be allocated to the corporate officers and employees of the company, kept by the company and subsequently remitted as payment or trade, cancelled ,or to transfer the company’s shares upon exercise of the rights attached to securities entitling their bearers, directly or indirectly, through reimbursement, conversion, exchange, presentation of a warrant or in any other manner, to the allocation of the company’s shares pursuant to current regulations. The program will be valid for 18 months from the date of the Combined Shareholders' Meeting.
お知らせ • Feb 20+ 2 more updatesCoface Sa Proposes DividendCOFACE SA proposed dividend of €1.40 per share representing an 80% pay-out ratio.
お知らせ • Feb 04COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd.COFACE SA (ENXTPA:COFA) signed an agreement to acquire Cedar Rose International Services Ltd on February 3, 2025. Following the acquisition, Cedar Rose will become Coface's information provider in the region, for both credit insurance and information services sales. The closing of the acquisition is subject to customary closing conditions.
お知らせ • Nov 06+ 3 more updatesCOFACE SA to Report Nine Months, 2025 Results on Nov 03, 2025COFACE SA announced that they will report nine months, 2025 results on Nov 03, 2025
New Risk • Oct 04New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 4.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Aug 07Second quarter 2024 earnings released: EPS: €0.49 (vs €0.45 in 2Q 2023)Second quarter 2024 results: EPS: €0.49 (up from €0.45 in 2Q 2023). Revenue: €493.3m (up 3.6% from 2Q 2023). Net income: €73.8m (up 9.1% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 8% per year.
お知らせ • Aug 06COFACE SA Announces Board ChangesAt its meeting on 5 August 2024, the Board of Directors of COFACE SA co-opted Marcy Rathman, Chief Environmental, Social and Governance Officer of Arch Capital Services LLC (Arch), as a non-independent director at the Board of Directors of COFACE SA. She takes the place of Chris Hovey who leaves the Board of directors to focus on his other professional responsibilities within Arch. Marcy Rathman was promoted to Executive Vice President, Chief Environmental, Social and Governance Officer of Arch Capital Services LLC in March 2022. She was initially named Senior Vice President, Chief ESG Officer in May 2019. She joined Arch’s legal team in December of 2000 and served as an attorney for Arch for close to 20 years, supporting the General Counsel and many of Arch’s governance and compliance policies. Marcy Rathman holds a B.A. from Tufts University and a law degree from Cardozo School of Law.
Upcoming Dividend • May 15Upcoming dividend of €1.30 per shareEligible shareholders must have bought the stock before 22 May 2024. Payment date: 24 May 2024. Payout ratio is on the higher end at 78%, however this is supported by cash flows. Trailing yield: 8.4%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (4.3%).
お知らせ • May 15Coface Announces Executive ChangesCoface is announcing two changes in the Mediterranean and Africa region management with the appointments of Ernesto de Martinis as Managing Director for the region. These changes will be effective from 1 July 2024. Ernesto is based in Milan and will report to Xavier Durand, CEO of Coface. He replaces Cécile Paillard who will continue her career outside the Group. Ernesto joined Coface in 2000 and was appointed Country Manager of Coface Italy in 2012. Under his leadership, Coface Italy has become the largest contributor to Coface's turnover and a strong, profitable, and diversified entity with a leading position in the credit insurance and bonding market. The development of business information is a new growth area in the Italian market, benefiting from positive momentum. Ernesto objective will be to enable Coface to continue its growth trajectory and to play a key role in the 2024-2027 "Power the core" strategic plan.
Reported Earnings • May 07First quarter 2024 earnings released: EPS: €0.46 (vs €0.41 in 1Q 2023)First quarter 2024 results: EPS: €0.46 (up from €0.41 in 1Q 2023). Revenue: €470.1m (up 30% from 1Q 2023). Net income: €68.4m (up 12% from 1Q 2023). Profit margin: 15% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Insurance industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year.
Reported Earnings • Apr 15Full year 2023 earnings released: EPS: €1.61 (vs €1.61 in FY 2022)Full year 2023 results: EPS: €1.61 (up from €1.61 in FY 2022). Revenue: €1.88b (up 2.5% from FY 2022). Net income: €240.5m (flat on FY 2022). Profit margin: 13% (in line with FY 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Apr 10Dividend of €1.30 announcedShareholders will receive a dividend of €1.30. Ex-date: 22nd May 2024 Payment date: 24th May 2024 Dividend yield will be 8.9%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (86% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 4.9% over the next 3 years. However, it would need to fall by 12% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • Mar 01Full year 2023 earnings released: EPS: €1.62 (vs €1.90 in FY 2022)Full year 2023 results: EPS: €1.62 (down from €1.90 in FY 2022). Revenue: €1.84b (down 2.2% from FY 2022). Net income: €240.5m (down 15% from FY 2022). Profit margin: 13% (down from 15% in FY 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Nov 19Third quarter 2023 earnings releasedThird quarter 2023 results: Revenue: €455.8m (down 9.1% from 3Q 2022). Net income: €60.9m (down 28% from 3Q 2022). Profit margin: 13% (down from 17% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Insurance industry in Germany.
お知らせ • Nov 15+ 4 more updatesCOFACE SA to Report Nine Months, 2024 Results on Nov 05, 2024COFACE SA announced that they will report nine months, 2024 results on Nov 05, 2024
Reported Earnings • May 28First quarter 2023 earnings releasedFirst quarter 2023 results: Revenue: €472.5m (up 6.6% from 1Q 2022). Net income: €61.2m (down 7.7% from 1Q 2022). Profit margin: 13% (down from 15% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 15Upcoming dividend of €1.52 per share at 11% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 11%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.5%).
お知らせ • Feb 17+ 2 more updatesCOFACE SA to Report Nine Months, 2023 Results on Nov 14, 2023COFACE SA announced that they will report nine months, 2023 results on Nov 14, 2023
お知らせ • Jan 31COFACE SA (ENXTPA:COFA) acquired rel8ed.toCOFACE SA (ENXTPA:COFA) acquired rel8ed.to on January 30, 2023. COFACE SA (ENXTPA:COFA) completed the acquisition of rel8ed.to on January 30, 2023.
Board Change • Nov 16High number of new and inexperienced directorsThere are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. Independent Director Nathalie Lomon is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.
お知らせ • Oct 28+ 1 more updateCOFACE SA, Annual General Meeting, May 16, 2023COFACE SA, Annual General Meeting, May 16, 2023.
Reported Earnings • Jul 30Second quarter 2022 earnings releasedSecond quarter 2022 results: Revenue: €476.1m (up 19% from 2Q 2021). Net income: €78.2m (up 17% from 2Q 2021). Profit margin: 16% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 4.3%, compared to a 22% growth forecast for the industry in Germany.
Valuation Update With 7 Day Price Move • May 25Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €10.54, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Insurance industry in Germany. Total returns to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.78 per share.
Buying Opportunity • May 21Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €14.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is forecast to decline by 3.8% per annum over the same time period.
お知らせ • May 18COFACE SA Approves Payment of Dividend for the 2021 Financial Year, Payable on May 24, 2022COFACE SA at its Combined Shareholders’ Meeting held on May 17, 2022, approved the payment of a dividend of €1.50 per share for the 2021 financial year with the coupon date set at May 20, 2022, and the payment date at May 24, 2022.
Upcoming Dividend • May 13Upcoming dividend of €1.50 per shareEligible shareholders must have bought the stock before 20 May 2022. Payment date: 24 May 2022. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 13%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (4.8%).
お知らせ • May 03Coface Appoints Hugh Burke as CEO of Asia-Pacific RegionCoface appointed Hugh Burkeas the CEO of CofaceAsia-Pacific Region, effective on April 1, 2022. He joins the Group executive committee and reports to Xavier Durand, Coface CEO. He takes over from Bhupesh Gupta who has significantly contributed to transforming the company’s culture during the past 6 years and has managed the operations in the region through the sanitary crisis with courage and accountability. Bupesh has built a solid group of leaders and experts who will support the development of Coface’s in the Asia-Pacific markets. Hugh joined Coface as Chief Commercial Officer for the Asia-Pacific region in 2016. Based in Hong Kong, he successfully led the region’s commercial transformation, with record year-on-year growth since 2018. Coface is now recognised as a market leader by clients and partners in Asia-Pacific.
Board Change • Apr 27High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Independent Director David Gansberg was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 10Full year 2021 earnings released: EPS: €1.50 (vs €0.55 in FY 2020)Full year 2021 results: EPS: €1.50 (up from €0.55 in FY 2020). Revenue: €1.60b (up 8.0% from FY 2020). Net income: €223.8m (up 170% from FY 2020). Profit margin: 14% (up from 5.6% in FY 2020). The increase in margin was primarily driven by higher revenue. Combined ratio: 64.6% (down from 79.8% in FY 2020). Over the next year, revenue is forecast to grow 1.7%, compared to a 19% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Mar 05Now 24% undervalued after recent price dropOver the last 90 days, the stock is down 22%. The fair value is estimated to be €12.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% per annum over the last 3 years. Earnings per share has grown by 21% per annum over the last 3 years.
Reported Earnings • Feb 21Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: €1.50 (up from €0.55 in FY 2020). Revenue: €1.61b (up 8.5% from FY 2020). Net income: €223.8m (up 170% from FY 2020). Profit margin: 14% (up from 5.6% in FY 2020). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 3.0%, compared to a 14% growth forecast for the insurance industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year.
お知らせ • Feb 16CONFACE SA Proposes DividendCOFACE SA Proposed Dividend, during the Shareholders’ Meeting, the distribution of a dividend of €1.50 per share, which corresponds to a 100% pay-out ratio.
Reported Earnings • Oct 31Third quarter 2021 earnings releasedThe company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €403.8m (up 7.9% from 3Q 2020). Net income: €67.7m (up 138% from 3Q 2020). Profit margin: 17% (up from 7.6% in 3Q 2020). The increase in margin was primarily driven by higher revenue.
Executive Departure • Sep 15Chief Executive Officer of Latin America Region Carmina Sanchez has left the companyDuring their tenure, earnings grew by 13% annually compared to the industry average, which went down by 1.1%. On the 13th of September, Carmina Sanchez left the company after 3.2 in the role. We don't have any record of a personal shareholding under Carmina's name. Carmina is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.75 years.
Board Change • Aug 02High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Independent Director David Gansberg was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 02Second quarter 2021 earnings released: EPS €0.45 (vs €0.075 in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €400.2m (up 8.7% from 2Q 2020). Net income: €66.9m (up 492% from 2Q 2020). Profit margin: 17% (up from 3.1% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth.
Upcoming Dividend • May 12Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (4.2%).
Reported Earnings • May 02First quarter 2021 earnings released: EPS €0.38The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €383.7m (up 2.8% from 1Q 2020). Net income: €56.4m (up 345% from 1Q 2020). Profit margin: 15% (up from 3.4% in 1Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 17COFACE SA Provides Earnings Guidance for the First Quarter 2021COFACE SA provided earnings guidance for the first quarter 2021. For the quarter, the company expects net profit above €50 million.
Reported Earnings • Apr 11Full year 2020 earnings released: EPS €0.55 (vs €0.97 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.48b (down 2.3% from FY 2019). Net income: €82.9m (down 44% from FY 2019). Profit margin: 5.6% (down from 9.7% in FY 2019). The decrease in margin was primarily driven by lower revenue. Combined ratio: 79.8% (up from 77.7% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.
Reported Earnings • Feb 12Full year 2020 earnings released: EPS €0.55 (vs €0.97 in FY 2019)The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.48b (down 2.3% from FY 2019). Net income: €82.9m (down 44% from FY 2019). Profit margin: 5.6% (down from 9.7% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year.
Analyst Estimate Surprise Post Earnings • Feb 12Revenue beats expectationsRevenue exceeded analyst estimates by 0.04%. Over the next year, revenue is forecast to stay flat compared to a 15% growth forecast for the Insurance industry in Germany.
Is New 90 Day High Low • Feb 12New 90-day high: €9.09The company is up 8.0% from its price of €8.39 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.25 per share.
お知らせ • Feb 11COFACE SA Appoints Bernardo Sanchez Incera as ChairmanCOFACE SA announced the arrival of 5 new directors, including one independent director and the appointment of Bernardo Sanchez Incera as Chairman.
Is New 90 Day High Low • Jan 08New 90-day high: €8.89The company is up 42% from its price of €6.28 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.06 per share.
Valuation Update With 7 Day Price Move • Nov 10Market bids up stock over the past weekAfter last week's 20% share price gain to €8.10, the stock is trading at a trailing P/E ratio of 13.3x, up from the previous P/E ratio of 11.1x. This compares to an average P/E of 10x in the Insurance industry in Germany. Total returns to shareholders over the past three years were flat.
Is New 90 Day High Low • Nov 07New 90-day high: €7.53The company is up 13% from its price of €6.67 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.04 per share.
お知らせ • Oct 28+ 3 more updatesCOFACE SA to Report Nine Months, 2021 Results on Oct 28, 2021COFACE SA announced that they will report nine months, 2021 results on Oct 28, 2021
Is New 90 Day High Low • Oct 02New 90-day low: €5.84The company is down 5.0% from its price of €6.12 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Insurance industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.56 per share.
お知らせ • Sep 16COFACE SA to Report Nine Months, 2020 Results on Oct 26, 2020COFACE SA announced that they will report nine months, 2020 results on Oct 26, 2020