Coface recorded consolidated sales of 1,417.8 ME for the first nine months, up +7.1% at constant exchange rates and perimeters compared with the first nine months of 2022. On a reported basis (at current scope of consolidation and exchange rates), sales were up +5.3%.

Insurance sales (including bonding and single risk) rose by +6.6% on a like-for-like basis.

The combined ratio net of reinsurance stood at 66.0% for the first 9 months of 2023, up 0.3 ppt year-on-year.

Operating income fell by 0.8% to ME 273.4. The effective tax rate was 24% (27% in 9M-22). Overall, net income (group share) totaled 189.7 ME, up +2.1% on the 9 months of 2022, including 60.9 ME in Q3 2023.

Coface confirms that it is actively preparing the definition of its next strategic plan, which will be presented to investors on March 5, 2024.

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