APRIL’s consolidated sales came to €757.4m in 2011

(IFRS - €m)	2011	2010	Change
Consolidated sales	757.44	743.32	+ 1.9 %
- Brokerage commissions and fees	495.98	466.88	+ 6.2 %
- Insurance premiums	261.46	276.44	- 5.4 %
Pro-forma consolidated sales*	757.44	769.42	- 1.6 %
- Brokerage commissions and fees	495.98	492.98	+ 0.6 %
- Insurance premiums	261.46	276.44	- 5.4 %

APRIL recorded consolidated sales of €757.44 million in the year ended 31 December 2011, corresponding to an increase of 1.9% on a reported basis. Performances in the year ended continue to reflect the Group’s refocusing on its core business, with brokerage commissions and fees continuing to rise, up 6.2%, while insurance premiums continued to decrease, down 5.4%.

By division, Health & Personal Protection recorded sales of €499.39 million, down 4.8%, insurance premiums declining by 7.7 % and brokerage commissions and fees by 2.8% in the face of fiercer market competition in France as well as in the rest of Europe. Marketing momentum was satisfactory in 2011, with notably a sharp recovery in new business production in loan insurance, the new range of policies launched by the group having enabled it to benefit fully from regulatory changes concerning property loans.

Property & Casualty recorded a significant increase in sales to €267.33 million, up 16.7%. Brokerage commissions and fees increased by 25% on a reported basis and by +6.5% on a pro-forma* basis, while insurance premiums were stable. The division’s growth reflects notably performances posted by assistance activities in South America (GDA), wholesale activities in France, and the integration of Canadian group ELCO (finalised in April 2011).

Note also the strong development of the international activities. They recorded sales growth of 56% in 2011 and now account for 22% of the consolidated gross profit, the strategic focus on mobility, travel and assistance having been affirmed.

In summary, in a particularly unsettled economic and financial environment, characterised by difficult market conditions and increasing regulatory pressures, APRIL recorded performances that were in line with guidance, bolstered by favourable marketing momentum, all the while making sweeping changes to optimise its structures and continuing to invest in human resources, brand development and systems. Now that it possesses a more balanced and more diversified business portfolio in terms of insurance lines as well as distribution channels and geographical markets, APRIL is entering a new phase in its development, with a new business plan out to 2015. The salient features of this plan and the group’s prospects for this period will be detailed during the presentation of the annual results.

APRIL GROUP will publish its results for the year ended 31 December 2011 on 5 March 2012 after the market closes.

APRIL GROUP (Compartment B, Deferred Settlement Service) employs 3,750 people

Contact

Jean-Marc ATLAN
EKNO
Adviser to the Chairman

jean-marc [dot] atlan [at] ekno [dot] fr
+33 (0)6 07 37 20 44