Atradius result for the year up 19% in 2016
- Total income increased by 3% (3.3% at constant foreign exchange rates)
- Gross insurance result improved 15.5% to EUR 370.4 million
- Investment result rose 24.9% to EUR 45.0 million
- Net profit increased 18.8% to EUR 211.8 million
- Shareholders’ equity increased 8.4% to EUR 1,625.5 million
Atradius’ aim is to lead customers into the future by strengthening their credit and cash management to support growth of their businesses. Atradius continue to invest in new technologies and taking advantage of opportunities in the markets. Their strategy is anchored in the distribution network of brokers and agents who deliver quality services that make a difference and where our people and global footprint play a key role.
Isidoro Unda, Chairman of the Management Board of Atradius commented, “2016 was another strong year for Atradius. We were successful in making improvements to our operations to the benefit of our cost structure and also enabling us to further enhance our operational efficiency and effectiveness. Year after year we are committed to delivering our customers and business partners quality service, regularly updated buyer information, collections support and prompt reimbursement of claims. This resulted in a very high customer retention rate of 93%.”
There is a significant amount of uncertainty in 2017 for the outlook of global and regional trade. The expected renegotiation of numerous trade agreements across the world could potentially stall international trade growth. A side effect of this could be an increase in payment defaults as trade costs are expected to rise, putting pressure on some businesses to improve cash management. This should also increase the need for information and collections services to better monitor creditworthiness of buyers and collect overdue debts.
Isidoro Unda concludes, “Every year businesses are challenged with new potential hurdles to increasing profits and managing payment risks. At Atradius, we have a strong corporate culture that is focused on ensuring we are able to meet our customers’ expanding needs for securing their receivables. We do this by expanding our credit insurance, bonding, credit information and collections capabilities into new markets, by constantly improving availability of information about buyers and by innovating to deliver new services to our customers.”
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Source - Atradius press release