News Article

Credit Insurance

Euler Hermes 2014 nine-month results – maintaining momentum

By CreditMan Thursday, October 30, 2014

• Turnover up 2.2% at constant exchange rates (+1.8% at current exchange rates) to €1,894 million
• Ordinary operating income, increasing by 7.8% to €337 million
• Net income up 5% year-on-year to €232.5 million

“Credit insurance will be of even greater importance to our clients given recent macroeconomic news,” declared Wilfried Verstraete, Chairman of the Euler Hermes Board of Management. “If this translates into another slowdown in Europe, in particular in Germany and France, it could lead to a resurgence in insolvencies. We are equipped for this scenario, as demonstrated by past results and shown again this quarter. Our growth engines outside Europe have delivered the expected momentum and operating income is solid.”