APRIL: Sales of ?690.4m up 7.0% at end September 2017
(Thomson Reuters ONE) -
Lyon, 24 October 2017
APRIL: Sales of ?690.4m
up 7.0% at end September 2017
* Sales growth of 6.3% like-for-like[1]
* Positive trends in brokerage confirmed as proforma commissions grew by 5%
over the first nine months
* Continuation of the targeted external growth policy
* Current EBIT now forecast to grow between 1% and 4% compared to 2016
Following publication of the Group's sales at the end of September 2017, APRIL
CEO Emmanuel Morandini made the following comments:
"Business performances during these first nine months confirm the trends
observed since the beginning of the year. We have seen continued growth, driven
by the good performance of brokerage activities in Health & Personal Protection
and Property & Casualty, as well as by the strong momentum of our insurance
business.
In order to strengthen these upward trends, we continue to implement actions in
line with our key growth drivers. As such, in order to export our renowned
expertise in two-wheeled vehicle insurance, APRIL acquired Pont Grup in Spain, a
specialist broker in this market.
The combination of those elements means that current EBIT should be back to
growth as soon as 2017."
IFRS - ?m 9M 2017 9M 2016 Change Change LFL
---------------------------------+---------+---------+---------------------
Consolidated sales | 690.4 | 645.3 | +7.0% +6.3%
---------------------------------+---------+---------+---------------------
Brokerage commissions and fees | 383.5 | 361.1 | +6.2% +5.0%
---------------------------------+---------+---------+---------------------
Insurance premiums | 306.8 | 284.2 | +7.9% +7.9%
---------------------------------+---------+---------+---------------------
The APRIL Group reported consolidated sales of ?690.4m for the first nine months
of 2017, up 7.0% compared with reported figures for the same period in 2016.
Sales rose 6.3% like-for-like compared to the first nine months of 2016. In line
with expectations, brokerage commissions were up 5.0% to ?383.5m, while
insurance premiums increased 7.9% to ?306.8m.
Like-for-like figures include sales of newly-consolidated companies amounting to
?5.7m, mainly generated by the integration of Bamado in July 2016 and Public
Broker in May 2017. The acquisition of Pont Grup in Spain on 18 October 2017 has
no impact on sales at end September.
The Group posted a ?0.7m negative impact of exchange rate fluctuations for the
period, mainly generated by the United Kingdom, curbing growth in Health &
Personal Protection commissions.
Breakdown of the change in sales between 2016 and 2017 - ?m
|
Consolidated sales as at 30/09/2016 | 645.3
--------------------------------------------------------------+--------
Impact of exchange rate fluctuations | -0.7
--------------------------------------------------------------+--------
Acquisitions | +5.7
--------------------------------------------------------------+--------
Disposals | -0.7
--------------------------------------------------------------+--------
Like-for-like sales as at 30/09/2016 | 649.6
--------------------------------------------------------------+--------
Increase in brokerage commissions and fees | +18.1
--------------------------------------------------------------+--------
Increase in insurance premiums | +22.6
--------------------------------------------------------------+--------
Consolidated sales as at 30/09/2017 | 690.4
|
Sales by division
Changes by type of revenues are as follows:
* Brokerage commissions in Health & Personal Protection continued to grow and
amounted to ?246.0m, up 6.1% as reported compared to the same period in
2016 (up 3.9% like-for-like). This growth was driven by the strong
performances in group health, loan, expatriate health and individual health
(seniors and self-employed) insurance.
* Property & Casualty commissions came to ?138.9m, up 6.4% compared with
reported figures for 2016. Excluding the impact of changes in consolidation
scope and exchange rate fluctuations, this division posted like-for-like
growth of 7.0%. Wholesale brokerage activities continued to expand,
specifically in substandard car insurance, two-wheeled vehicle insurance and
the professional range. The travel insurance business benefited from
satisfying sales momentum primarily in France and Brazil.
* The 10.2% increase in Health & Personal Protection insurance premiums, which
amounted to ?179.0m, reflects strong business driven primarily by the
development of the individual (seniors and self-employed) Health & Personal
Protection and group health insurance portfolios. This growth is partly
reduced by the expected loss of some run-off portfolios.
* Property & Casualty insurance premiums continue to rise (up 5.0% to
?128.4m), driven by the expansion of corporate, travel insurance and
assistance operations in a highly-reinsured risk-carrying model.
IFRS - ?m 9M 2017 9M 2016 Change 9M 2016 LFL Change LFL
-----------------------------+-------+-------+-----------------------------
Health & Personal Protection| 425.0 | 394.3 |+7.8% 399.3 +6.4%
-----------------------------+-------+-------+-----------------------------
Commissions and fees| 246.0 | 231.8 |+6.1% 236.8 +3.9%
-----------------------------+-------+-------+-----------------------------
Insurance premiums| 179.0 | 162.5 |+10.2% 162.5 +10.2%
-----------------------------+-------+-------+-----------------------------
Property & Casualty | 267.4 | 252.8 |+5.8% 252.1 +6.0%
-----------------------------+-------+-------+-----------------------------
Commissions and fees| 138.9 | 130.5 |+6.4% 129.8 +7.0%
-----------------------------+-------+-------+-----------------------------
Insurance premiums| 128.4 | 122.3 |+5.0% 122.3 +5.0%
-----------------------------+-------+-------+-----------------------------
Intra-group eliminations | -2.0 | -1.7 |-13.6% -1.8 -13.6%
-----------------------------+-------+-------+-----------------------------
Consolidated sales | 690.4 | 645.3 |+7.0% 649.6 +6.3%
-----------------------------+-------+-------+-----------------------------
Outlook
After the first nine months of the year, APRIL now targets a 1% to 4% growth in
2017 current EBIT. This growth relies on strong business trends that were built
over the past years, supplemented by the outcome of the work being carried out
since 2015 on streamlining our loss-making operations.
Emmanuel Maillet, Group CFO, will be holding a conference call for financial
analysts, investors and the press this evening at 6.00 p.m. (French time),
during which these matters will be discussed in greater detail.
Dial-in details: France - +33 (0)1 76 74 24 28 / Switzerland - +41 (0)
56 580 00 07
United Kingdom - +44 (0)145 2555 566
Please dial in a few minutes beforehand, in order to register, and give the
following reference number: 9958 2423.
Appendix
* Quarterly sales
Upcoming releases
* 2017 Full-year sales: 30 January 2018 after market close
* 2017 Annual results: 7 March 2018 after market close
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 2016 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)7 64 01 74 35 - samantha.druon(at)insign.fr
About APRIL
Established in 1988, APRIL is an international insurance services group with
operations in 31 countries in Europe, North and South 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 ?861.2 million in 2016. Its
3,800 staff members design, manage and distribute specialised insurance
solutions (health and personal protection, property and casualty, mobility and
legal protection) as well as assistance services for private individuals,
professionals and businesses, while pursuing APRIL's ambition: to make insurance
easier and more accessible to everyone. Driven by a strong entrepreneurial
culture, the group aims to offer its customers an insurance experience which is
easier, by means of tailored products and services and customised care.
Full regulated information is available on our website at www.april.com
(Investors section).
Appendix: Quarterly sales
(IFRS - ?m) 2017 2016 Change 2016 LFL Change LFL
--------------+-------+-------+--------------------------------
Q1 | 227.7 | 208.4 | +9.2% 209.9 +8.5%
--------------+-------+-------+--------------------------------
Q2 | 230.0 | 221.8 | +3.7% 224.4 +2.5%
--------------+-------+-------+--------------------------------
Q3 | 232.7 | 215.1 | +8.2% 215.3 +8.1%
--------------+-------+-------+--------------------------------
Q4 | - | 215.9 | - - -
--------------+-------+-------+--------------------------------
Total | - | 861.2 | - - -
--------------+-------+-------+--------------------------------
--------------------------------------------------------------------------------
[1] Proforma or like-for-like (LFL): sales at constant consolidation scope and
exchange rates. This figure is 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.
PDF Version:
http://hugin.info/165829/R/2144215/821714.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:
Bereitgestellt von Benutzer: hugin
" alt="Naturally Splendid’s Prosnack Natural Foods Inc. Opens National Account 
Datum: 24.10.2017 - 17:47 Uhr
Sprache: Deutsch
News-ID 565040
Anzahl Zeichen: 12805
contact information:
Town:
Lyon
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 236 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"APRIL: Sales of ?690.4m up 7.0% at end September 2017"
steht unter der journalistisch-redaktionellen Verantwortung von
April (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
