Coface’s H1 2024 net income climbs 10% YoY

This was equivalent to $156.5m in earnings for the period.

Trade credit insurer, Coface, saw its first half of 2024 (H1 2024) net income climb 10.4% year-on-year (YoY) to $156.53m (€142.3m), thanks to the double-digit growth seen in operating income (+17.5% YoY, to $238.92m (€217.2m)).

Coface also reported a net financial income of $44.88m (€40.8m) for H1 2024. 

This figure includes realised capital gains of $11.11m (€10.1m), which more than offset negative market value adjustments on investments of $4.62m (€4.2m) and an adverse foreign exchange impact of $7.7m (€7.0m), largely due to the strengthening euro.

Coface has adjusted its global growth forecast slightly upwards to 2.5% YoY for 2024, with an expectation of 2.7% YoY growth in 2025.

Whilst growth in China and the United States remains moderate, it is offset by stronger performances in some emerging markets. However, these growth rates are still below the levels observed over the past decade.

($1.00 = €0.91)