France's Coface Q1 net income falls as client activity slows

Coface SA

12/05/2026 16:46

Overview

France global trade credit risk manager's Q1 turnover stable at constant FX, down 1.7% reported

Q1 net income declined 13.7% yr/yr amid slower client activity and geopolitical tensions

Non-insurance activities grew 9.2%, offsetting insurance revenue declines

Outlook

Coface says global trade growth forecasts have been revised downward due to geopolitical tensions

Company expects more severe impacts for emerging economies, notably in Asia, if deadlock continues

Result Drivers

SLOWER CLIENT ACTIVITY - Coface said trade tariffs and Middle East conflict slowed client growth, especially in Southern Europe and emerging countries, reducing their contribution to turnover

NON-INSURANCE GROWTH - Revenue from non-insurance activities, including business information and debt collection, rose 9.2% and helped offset insurance declines

HIGH CLIENT RETENTION - Client retention approached record highs (94.8%) and new business reached its highest point since 2020

Company press release: ID:nGNE41T8BP

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
EUR 53.6 Mln
Q1 Combined Ratio
70.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy"

Wall Street's median 12-month price target for Coface SA is €17.00, about 6.5% above its May 11 closing price of €15.96

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)