Solid sales performance and continued refocusing on the Group’s core activity
The APRIL Group posted consolidated sales of €762.2m for the first nine months of 2019, up 1.8% as reported compared to the first nine months of 2018. Following this announcement, APRIL CEO Eric Maumy made the following comments:
At the end of the first nine months, Health & Personal Protection and Property & Casualty commissions posted solid growth at constant consolidation scope and exchange rates, particularly on our key markets: individual health and personal protection, professionals and SMEs, loan insurance, international health and Property & Casualty niches. At the same time, we have continued the Group’s refocusing, particularly by entering into exclusive negotiations to sell the legal protection and services businesses. We have stepped up this transformation with the official launch of our Marketplace at the Brokerage Days event on 17 September, which received a warm reception from our brokers and partners.
We will now be able to build on this momentum, which will involve increasing digitalisation in order to remain agile and innovative.
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.
- Sales up 3.3% like-for-like1
- Commissions up 5.3% like-for-like
- Reclassification of the legal protection business to discontinued operations is the main reason for the decline in Property & Casualty (down 9.7% as reported, up 1.4% like-for-like)