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Atradius Annual Report 2017 – Connected
We are a global organisation, actively engaged in supporting national and international trade through our credit insurance, surety and debt collection services.To do so effectively, it’s essential that we stay connected with the businesses – and the people - we serve: through the advanced technology that we continue to develop and the mutually beneficial business relationships we build with our customers and partners.
Atradius’ total revenue grew 4.3% to EUR 1,837.2 million in 2017 compared to EUR 1,760.7 million in 2016 (5.1% at constant exchange rates). Insurance revenue reached EUR 1,718.9 million, a growth rate of 2.0% (2.7% at constant exchange rates). North America, Asia and Central and Eastern Europe showed encouraging revenue growth, consistent with our ambitions in these.
The profit for the year was EUR 186.2 million which was supported by a 4.3% increase in total revenue. The business line for multinationals (Global) and Bonding performed well.
Outlook
The global economy is expected to continue growing in 2018 and with it the insurable sales of our customers. This will continue to put pressure on pricing. Trade barriers could prompt swift retaliation in global trade while the continued concerns about Brexit present threats to companies with significant export business. Despite these concerns, we anticipate a year of stable growth in 2018 with insolvencies, on average, stable.
Isidoro Unda, Chairman and CEO of Atradius commented; “Building a stable business that our customers and partners can count on to deliver consistently excellent service everywhere they do business with us, has been for many years a priority in Atradius. As business conditions improve, our customers need to be able to act quickly to grasp opportunities. To help them do this we continue to introduce innovative services like Atradius Insights in 2016 and Atradius Atrium in 2017. With these services we enable them to react faster and make smarter credit management decisions. By working together with our customers we believe we can better support their trade credit management needs so they can grow their businesses safely.”
