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Coface reports a positive net income of €11.3m for the second quarter 2020 and continues to implement its strategic plan
Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter: Client retention and new business achieve record levels, with a positive net production of €33m. First effects of re-pricing are now visible (+0.2%). Revenues from services progress by 7%, including information services up by 13%. Client activities continue to slowdown – a trend expected to continue over the following quarters.
Post-pandemic production relocation: an opportunity for CEE countries?
Foreign trade and inclusion in supply chains had already increased in recent years, supported by EU membership by most CEE (Central and Eastern European) countries in 2004.
United States: Two-speed business bankruptcies
As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.
Global Transport: What does the future hold beyond COVID-19?
The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, to limit the virus’propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment.
Coface finalises the acquisition of GIEK Kredittforsikring AS
Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company that manages a short-term export credit insurance portfolio.
Coface: A world of trade
Panorama: Global renewable energies climb despite COVID-19
The Netherlands - Corporate Payment Survey 2020
Post-pandemic production relocation: an opportunity for CEE countries