APRIL: APRIL delivers 2015 full-year sales of ?798.0m, up 4.1%
(Thomson Reuters ONE) -
Lyon, 26 January 2016
APRIL delivers 2015 full-year sales
of ?798.0m, up 4.1%
* 4.6% increase in like for like sales
* Slight 0.5% decrease in brokerage commissions
* Sharp 12.9% increase in insurance premiums
APRIL reported consolidated sales of ?798.0m for the year ending 31 December
2015, up 4.1% compared with the reported figures for 2014.
The extension of group private health insurance took effect on 1 January this
year. This market change will continue to impact individual health insurance
portfolios over the coming years. In the group health insurance market, APRIL
benefited from a significant amount of new business in a highly aggressive
market, and will continue to support its customers throughout 2016, in
particular in the context of professional branch agreements renegotiation. The
Group faces pressure on its margin levels in these markets, resulting from
intense competition.
Aside from this change, the year was characterised by particularly strong sales
momentum in the loan insurance brokerage business, while trends in Property &
Casualty brokerage were also very positive. Efforts to turn around sales in our
APRIL Mon Assurance agency network have paid off, while international travel
insurance also recorded a slight increase.
"APRIL Group posted strong sales growth in 2015, in line with our expectations,
which is good news. We would like to sincerely thank all the teams for their
commitment throughout the year.
Due to the current regulatory, competitive, and macro-economic environment in
which we operate, we remain cautious. We are focused on adjusting the APRIL
model, and in the coming years we will have to continue our work on our priority
growth levers, i.e. optimising and strengthening our broker network, developing
partnerships and key accounts, digitising direct distribution and improving
profitability, as well as leveraging and exporting our expertise", commented
Bruno Rousset, APRIL Chairman and CEO.
(IFRS - ?m) 2015 2014 Change 2014 LFL(1) Change
| | | | |
Consolidated sales 798.0|766.3|+4.1% | 763.2 |+4.6% |
------+-----+------+-----------+------+
Brokerage commissions and fees 473.5|478.9|-1.1% | 475.9 |-0.5% |
------+-----+------+-----------+------+
Insurance premiums 324.5|287.4|+12.9%| 287.3 |+12.9%|
-------------------------------------+-----+------+-----------+------+
(1) The term LFL or 'PF' Pro Forma means "Pro forma sales at constant exchange
rates and consolidation scope" throughout this press release: it takes into
account any acquisitions, disposals, or changes in the consolidation method, as
well as the fluctuation in exchange rates, calculated on the basis of the
financial statements for the previous year translated at the exchange rate for
the current year.
Sales by division
(IFRS - ?m) 2015 2014 Change 2014 LFL(1) Change
| | | | |
Health & Personal Protection 505.7|493.8|+ 2.4 %| 495.3 |+2.1 % |
------+-----+-------+-----------+-------+
Commissions and fees 302.9|308.2|- 1.7 %| 309.7 |- 2.2 %|
------+-----+-------+-----------+-------+
Premiums 202.8|185.6|+ 9.3 %| 185.6 |+ 9,3 %|
------+-----+-------+-----------+-------+
Property & Casualty 294.8|280.3| +5.2% | 275.6 | +6.9% |
------+-----+-------+-----------+-------+
Commissions and fees 172.7|172.3| +0.2% | 167.7 | +3.0% |
------+-----+-------+-----------+-------+
Premiums 122.1|108.0|+13.1% | 108.0 |+13.1% |
------+-----+-------+-----------+-------+
Intra-group eliminations -2.5 |-7.8 | - | -7.8 | - |
-----------------------------------+-----+-------+-----------+-------+
Changes by type of revenues on a like-for-like basis are as follows:
* The 2.2% decrease in Health & Personal Protection brokerage commissions
mainly resulted from the decrease in our individual employee healthcare
insurance portfolios in the current regulatory environment. This decrease
was partially offset by the excellent performance of loan insurance, in line
with previous announcements. Individual health insurance for seniors and
self-employed continued to perform well. As part of the French National
Interbranch Agreement (ANI), sales in group insurance began later than
scheduled, but registered a sharp increase at the very end of the year.
* 2015 confirmed Property & Casualty commissions returning to growth (+3.0%).
The APRIL Mon Assurance agency network reported a slight increase in sales.
Our wholesale brokerage activities performed well, especially in house and
motorbike insurance and the professional range. In addition, despite a
challenging macro-economic environment in some countries, sales in our
travel insurance activities increased slightly, particularly in the US and
Latin American regions.
* The 9.3% increase in Health & Personal Protection insurance premiums
reflects the ongoing momentum in this business, driven by the development of
individual (seniors and self-employed), group, and expatriate Health &
Personal Protection portfolios. It also reflects new partnerships in group
health insurance portfolios linked to the ANI (French National Interbranch
Agreement), as well as an adjustment to the reinsurance structure.
* The increase in Property & Casualty insurance premiums is due to the growth
in our highly reinsured P&C portfolios, as well as in our legal protection
activities.
Quarterly sales
(IFRS - ?m) 2015 2014 Change 2014 LFL(1) Change
| | | | |
Q1 195.6 | 193.2 | +1.2% | 193.6 | +1.0% |
--------+-------+--------+-------------+--------+
Q2 206.1 | 193.8 | +6.3% | 193.7 | +6.4% |
--------+-------+--------+-------------+--------+
Q3 198.5 | 191.0 | +3.9% | 189.3 | +4.9% |
--------+-------+--------+-------------+--------+
Q4 197.8 | 188.3 | +5.0% | 186.6 | +6.0% |
--------+-------+--------+-------------+--------+
Total 798.0 | 766.3 | +4.1% | 763.2 | +4.6% |
-----------------------+-------+--------+-------------+--------+
Outlook
Overall, the Group's operating performance in 2015 is in line with announcements
made during the second half of the year. APRIL expects its current EBIT to be
slightly below that of 2014. More detailed comments on this performance will be
provided on 2 March 2016, at the release of our 2015 full-year results.
Marc Le Doze, Group CFO, will be holding a conference call for financial
analysts, investors, and the press this evening at 6.15 pm (French Time).
Dial in details: France - 0805 632 056 or 01 76 74 24 28 / United Kingdom -
0800 694 0257
International +44 (0) 1452 555 566
Please dial in a few minutes beforehand, in order to register, and give the
following reference number: 3333 6608.
Upcoming events:
* 2015 consolidated annual results : 2 March 2016, after market close
* 2015 consolidated annual results presentation: 3 March 2016 at 9.30 am in
Paris.
* Q1 2016 sales: 26 April 2016.
* Shareholder Annual General Meeting of: 28 April 2016, in Lyon.
Contacts:
Analysts and investors
Sandrine Gallien: +33 (0)4 72 36 49 31 / +33 (0)6 20 26 06 24 -
sandrine.gallien(at)april.com
Press
Sandrine Trichard: +33 (0)6 15 45 75 47 - sandrine.trichard(at)insign.fr
Samantha Druon: +33(0)4 72 00 46 56 - samantha.druon(at)insign.fr
About APRIL
APRIL, an international insurance services group, has chosen innovation as the
key to driving its development since it was established in 1988, by seeing
insurance from the customer's perspective. Its ambition is to make insurance
easier and more accessible. Making this commitment, which means pushing
boundaries and keeping things simple, has enabled it to become the leading
wholesale broker in France and an international authority in the sector. 3,800
staff members offer, advise on, design, manage and distribute specialised
insurance solutions (Health & Personal Protection, Property & Casualty, Mobility
and Legal Protection) and assistance services for private individuals,
professionals and businesses. APRIL operates in Europe, the Americas, Asia,
Africa and the Middle East. APRIL is listed on Euronext Paris (Compartment B),
and posted sales of ?798.0 million in 2015.
Full regulated information is available on our website at www.april.com
(investors section).
Pdf version:
http://hugin.info/165829/R/1981419/725927.pdf
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Source: April via GlobeNewswire
[HUG#1981419]
Unternehmensinformation / Kurzprofil:
Datum: 26.01.2016 - 17:42 Uhr
Sprache: Deutsch
News-ID 446636
Anzahl Zeichen: 11052
contact information:
Town:
Lyon
Kategorie:
Business News
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