APRIL delivers 2016 full-year sales of ?861.2m, up 7.9%
(Thomson Reuters ONE) -
Lyon, 24 January 2017
APRIL delivers 2016 full-year sales
of ?861.2m, up 7.9%
* Like-for-like sales grew by 7.4%
* Brokerage activities in Health & Personal Protection have returned to growth
The APRIL Group reported consolidated sales of ?861.2m for the year ending 31
December 2016, up 7.9% compared with reported figures for the previous year.
Fourth quarter growth came in at 9.2%, demonstrating an improvement in the
growth rate each quarter.
APRIL CEO Emmanuel Morandini made the following comments: "The APRIL Group
posted record full-year sales of ?861.2m. The initiatives carried out over the
last fifteen months are beginning to bear fruit, with the Group's brokerage
business returning to growth in 2016, including Health & Personal Protection.
These results are particularly satisfying in view of the restrictive regulatory
environment, as they indicate strong progress in all market segments outside of
individual employee health insurance. This is therefore a significant
achievement. At the same time, our risk carrying business continues to register
steady growth. The return to positive growth dynamics in all our activities,
together with measures designed to restore the profitability of loss-making
operations and the reorganisation of our international operations launched in
December 2016, will serve as foundations to keep up turning the Group's
financial performance around".
IFRS - ?m 2016 2015 Change Change LFL(1)
--------------------------------------+-----+-----+--------------------
Consolidated sales |861.2|798.0|+7.9% +7.4%
--------------------------------------+-----+-----+--------------------
Brokerage commissions and fees |485.8|473.5|+2.6% +1.8%
--------------------------------------+-----+-----+--------------------
of which Health & Personal Protection|311.1|302.9|+2.7% +0.6%
--------------------------------------+-----+-----+--------------------
of which Property & Casualty |176.4|172.7|+2.1% +3.7%
--------------------------------------+-----+-----+--------------------
Insurance premiums |375.4|324.5|+15.7% +15.7%
--------------------------------------+-----+-----+--------------------
[1]Pro forma or like-for-like sales, at constant exchange rates and
consolidation scope, adjusted for acquisitions, disposals and changes in
consolidation method, as well as exchange rate fluctuations, calculated on the
basis of the prior year financial statements converted using the exchange rate
for the current year.
Like-for-like sales for the year rose 7.4% compared to 2015. Brokerage
commissions continued to grow, up 1.8% to ?485.8m, while insurance premiums
maintained a solid upward trend with sales of ?375.4m, up 15.7% from the
previous year.
The Group also benefited from targeted external growth transactions, mostly
including the acquisition of Avilog at the end of 2015, GlobalHealth in early
2016 and Bamado in July 2016.
The Group posted a ?3.6m impact of exchange rate fluctuations for the year,
impacting Health & Personal Protection commissions in the United Kingdom and
Property & Casualty commissions (mainly in Brazil, Canada and Colombia).
2015 to 2016 sales progression - ?m
|
2015 consolidated sales | 798.0
-------------------------------------------+--------
Impact of exchange rate fluctuations | (3.6)
-------------------------------------------+--------
Acquisitions | 9.2
-------------------------------------------+--------
Deconsolidation | (1.8)
-------------------------------------------+--------
2015 like-for-like(1) sales | 801.8
-------------------------------------------+--------
Growth in brokerage commissions and fees | 8.5
-------------------------------------------+--------
Growth in insurance premiums | 50.9
-------------------------------------------+--------
2016 sales | 861.2
|
Sales by division
Changes by type of revenues are as follows:
* Brokerage commissions in Health & Personal Protection amounted to ?311.1m in
2016, up 2.7% compared to 2015 based on reported data. Excluding
consolidation changes relating to the Avilog, GlobalHealth and Bamado
acquisitions, commissions were up slightly by 0.6%. The strong performances
of group, loan and personal protection insurance now make up for the losses
recorded in individual employee health insurance, following the extension of
group private health insurance.
* Property & Casualty commissions came to ?176.4m, up 2.1% compared with
reported figures for 2015. Excluding the impact of exchange rate
fluctuations, commissions were up 3.7% and posted growth for the second year
running. Wholesale brokerage continued to grow, specifically in substandard
motor, two-wheeled vehicle insurance and the professional range. Travel
insurance and assistance activities held up well in a challenging
environment and recorded an increase in sales compared with the previous
year.
* The 6.8% increase in Health & Personal Protection insurance premiums
reflects the momentum in this business, driven by the development of the
individual (seniors and self-employed) Health & Personal Protection and
expatriate insurance portfolios. It is also related to the growth in group
private health insurance portfolios generated by partnerships set up to meet
the demand created by the extension of corporate group private health
insurance. These solid performances contribute to offsetting the expected
decreases in some run-off portfolios.
* Strong growth in Property & Casualty insurance premiums continued, with
premiums up ?37.5m (30.7%) to ?159.6m. This reflects the expansion of our
legal protection business and corporate and affinity member operations, in a
highly-reinsured risk-carrying model.
IFRS - ?m 2016 2015 Change 2015 LFL(1) Change
-------------------------------+-------+-------+-------------------------------
Health & Personal Protection | 527.7 | 505.7 | +4.3% 512.2 +3.0%
-------------------------------+-------+-------+-------------------------------
Commissions and fees | 311.1 | 302.9 | +2.7% 309.3 +0.6%
-------------------------------+-------+-------+-------------------------------
Insurance premiums | 216.6 | 202.8 | +6.8% 202.8 +6.8%
-------------------------------+-------+-------+-------------------------------
Property & Casualty | 336.0 | 294.8 | +14.0% 292.3 +15.0%
-------------------------------+-------+-------+-------------------------------
Commissions and fees | 176.4 | 172.7 | +2.1% 170.1 +3.7%
-------------------------------+-------+-------+-------------------------------
Insurance premiums | 159.6 | 122.1 | +30.7% 122.1 +30.7%
-------------------------------+-------+-------+-------------------------------
Intra-group eliminations | (2.5) | (2.5) | +0.2% (2.7) +7.7%
-------------------------------+-------+-------+-------------------------------
Quarterly sales
IFRS - ?m 2016 2015 Change 2015 LFL(1) Change
------------+-------+-------+-------------------------------
Q1 | 208.4 | 195.6 | +6.5% 195.5 +6.6%
------------+-------+-------+-------------------------------
Q2 | 221.8 | 206.1 | +7.6% 206.2 +7.6%
------------+-------+-------+-------------------------------
Q3 | 215.1 | 198.5 | +8.4% 200.1 +7.5%
------------+-------+-------+-------------------------------
Q4 | 215.9 | 197.8 | +9.2% 200.0 +7.9%
------------+-------+-------+-------------------------------
Total | 861.2 | 798.0 | +7.9% 801.8 +7.4%
------------+-------+-------+-------------------------------
Outlook
Fourth quarter sales trends are in line with Group expectations and enable us to
confirm the outlook published for 2016: APRIL estimates that its current EBIT
should decrease by 10 to 12% compared to 2015.
Marc Le Doze, Group CFO, will be holding a conference call for financial
analysts, investors and the press this evening at 6.00 pm (French time), during
which these matters will be discussed in greater detail.
Dial-in details: France - +33 (0)1 76 74 24 28 / United Kingdom - +44 (0)145
2555 566
Please dial in a few minutes beforehand, in order to register, and give the
following reference number: 5347 4183.
Upcoming releases:
* 2016 Annual results: 8 March 2017 after market close
* 2016 Annual results presentation: 9 March 2017 at 9.30 am in Paris
* Q1 2017 sales: 25 April 2017 after market close
* Shareholder Annual General Meeting: 4 May 2017, in Lyon
This release contains forward-looking statements that are based on assessments
or assumptions that were reasonable at the date of the release, and which may
change or be altered due to, in particular, random events or uncertainties and
risks relating to the economic, financial, regulatory and competitive
environment, the risks set out in the 2015 Registration Document, and any risks
that are unknown or non-material to date that may subsequently occur. The
Company undertakes to publish or disclose any adjustments or updates to this
information as part of the periodical and permanent information obligation to
which all listed companies are subject.
Contacts:
Analysts and investors
Guillaume Cerezo: +33 (0)4 72 36 49 31 / +33 (0)6 20 26 06 24 -
guillaume.cerezo(at)april.com
Press
Samantha Druon: +33(0)4 72 00 46 56 - samantha.druon(at)insign.fr
About APRIL
Established in 1988, APRIL is an international insurance services group with
operations based in 31 countries in Europe, America, Asia, Africa and the Middle
East, and the leading wholesale broker in France. Listed on Euronext Paris
(Compartment B), the Group posted sales of ?861m in 2016. Its 3,800 staff
members design, manage and distribute specialist insurance solutions (health and
personal protection, property and casualty, mobility and legal protection) as
well as assistance services, for private individuals, professionals and
businesses, by pursuing the ambition APRIL set itself from the very beginning:
to change the image of insurance and make it easier and more accessible. Driven
by a strong entrepreneurial culture, the group bases its development on four
values in support of its customers: building trust, pushing boundaries,
innovating and keeping things simple.
Full regulated information is available on our website at www.april.com
(Investors section).
PDF VERSION :
https://hugin.info/165829/R/2073208/779217.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: April via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.01.2017 - 17:43 Uhr
Sprache: Deutsch
News-ID 519646
Anzahl Zeichen: 13095
contact information:
Town:
Lyon
Kategorie:
Business News
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