News Column

APRIL's Sales Remain Stable at Constant Scope and Exchange Rates

July 28, 2014



LYON, France, July 28, 2014 /PRNewswire/ --


H1 2013 pro (IFRS - EURm) H1 2014 H1 2013 Change forma[1] Change Consolidated sales 387.0 392.0 - 1.3 % 386.9 + 0.0 % Brokerage commissions and fees 244.4 251.9 - 3.0 % 247.0 - 1.1 % Insurance premiums 142.6 140.2 + 1.8 % 139.9 + 2.0 %




APRIL recorded consolidated sales of EUR387.0m in the first half of 2014, corresponding to a decrease of -1.3% on the same period of 2013. Brokerage commissions fell by -3.0% to EUR244.4m, while insurance premiums increased by +1.8% to EUR142.6m.

At constant scope and exchange rates, consolidated sales were stable, with commissions slightly down by -1.1% and premiums up by +2.0%. The Group recorded a negative currency effect of EUR4.8m, mainly in South America and Canada, which primarily impacted commissions in the Property & Casualty division.

Sales by division

H1 2013 pro (IFRS - EURm) H1 2014 H1 2013 Change forma[1] Change Health & Personal Protection 251.7 251.2 + 0.2 % 251.1 + 0.2 % Commissions and fees 158.7 160.9 - 1.4 % 160.8 - 1.3 % Premiums 93.0 90.3 + 3.0 % 90.3 + 3.0 % Property & Casualty 139.3 146.0 - 4.6 % 141.0 - 1.2 % Commissions and fees 86.5 92.1 - 6.1 % 87.2 - 0.8 % Premiums 52.8 53.9 - 2.1 % 53.8 - 1.9 % Intra-group eliminations - 4.0 - 5.2 - - 5.2 -




Looking at the detail:

- Brokerage activity in Health & Personal Protection, driven by loan and group insurance, was impacted in individual health insurance by the company's prudent decision to stop financing individual employee policies as group health insurance will become widespread within the National Interbranch Agreement (ANI) context. These commissions amounted to EUR158.7m in the first half of 2014, a decline of -1.3%. - The rise in Health & Personal Protection premiums (+3.0% to EUR93.0m) results mainly from the development of individual, group and expatriate health portfolios. - Despite the continued growth of the assistance and travel insurance business, Property & Casualty commissions were down slightly (-0.8% to EUR86.5m), with the positive commercial performance of the agency network still failing to offset an opening stock penalised by the unfavourable trends of 2013. - The decline (-1.9% to EUR52.8m) in Property & Casualty premiums is attributable to non-recurring premiums recorded in 2013. Adjusted to take this into account, premiums increased, due partly to new partnerships and to the revival of affinity member activities within the scope of a significantly reinsured model.




Quarterly sales

2013 pro (IFRS - EURm) 2014 2013 Change forma[1] Change Q1 193.2 193.0 + 0.1 % 190.4 + 1.5 % Q2 193.8 199.0 -2.6 % 196.5 -1.4 % Q3 - 193.8 - - - Q4 - 192.8 - - - Total - 778.6 - - -




All regulated information is available from the Finance section of http://www.april.com.

APRIL will publish its half year results for 2014 on 28 August 2014 after the market closes.

About APRIL

APRIL is an international insurance services group which has chosen innovation as the key to driving its development. Making this commitment, which means pushing boundaries and keeping things simple, has enabled it to become in less than 20 years the leading master broker in France and an international authority with operations in 37 different countries.

Over 4,000 staff members insure, advise, design, manage and distribute insurance solutions and assistance services for private individuals, professionals and businesses, amounting to some 6 million policy holders. APRIL achieved a turnover of EUR778.6m in 2013. APRIL is listed on Euronext Paris (Compartment B, SRD - deferred settlement service).

[1]. Pro forma sales at constant scope and exchange rates: taking into account the disposals of Sano Concept International and Coris BiÉlorussie in March 2013 and at the end of March 2014 respectively, the change in the method of consolidating Socafac following the buyout of the minority interests, as well as the change in exchange rates, calculated on the basis of the accounts for Y-1 converted to the exchange rate of the current year.

APRIL

CONTACT: Contact: Ana Roibas - +33(0)4-72-36-49-31 - +33(0)7-86-05-28-99 -

ana.roibas@april.com


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Source: PR Newswire Europe


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