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Sales came to €565.49 million in the first 9 months of 2011
- 7.9% growth in brokerage commissions and fees
- 45.0% growth for the international activities
APRIL recorded consolidated sales of €565.49 million in the first nine months of 2011, corresponding to an increase of 1.6% on a reported basis and a decrease of 2.5% on a pro-forma basis. Brokerage commissions and fees continued to increase, up 7.9% (and 1.0% on a pro-forma basis), while insurance premiums decreased, down 8.6%.
By division, Health & Personal Protection recorded 9-month sales down 5.3% to €370.40 million, with brokerage commissions and fees down 3.1% due to a cyclical downturn, while insurance premiums declined by 8.6%. Property & Casualty recorded a 16.8% increase in sales to €201.97 million, reflecting a strong increase in brokerage commissions and fees of 31.2% on a reported basis and 8.1% on a pro-forma basis, while insurance premiums declined by 8.4%.
Note that the development of the Group’s international operations continued at a brisk pace, with sales up 45.0% after nine months.
(IFRS - €m) | 9m 2011 | 9m 2010 | Change |
|---|---|---|---|
| Consolidated sales | 565.49 | 556.49 | +1.6% |
| - Brokerage commissions and fees | 371.60 | 344.26 | +7.9% |
| - Insurance premium | 193.89 | 212.23 | -8.6% |
| Pro-forma consolidated sales * | 565.49 | 580.08 | -2.5% |
| - Brokerage commissions and fees | 371.60 | 367.85 | +1.0% |
| - Insurance premiums | 193.89 | 212.23 | -8.6% |
APRIL recorded consolidated sales of €565.49 million in the first nine months of 2011, corresponding to
an increase of 1.6% on a reported basis and a decrease of 2.5% on a pro-forma basis. Brokerage
commissions and fees continued to increase, up 7.9% (and 1.0% on a pro-forma basis), while
insurance premiums decreased, down 8.6%.
By division, Health & Personal Protection recorded 9-month sales down 5.3% to €370.40 million, with
brokerage commissions and fees down 3.1% due to a cyclical downturn, while insurance premiums
declined by 8.6%. Property & Casualty recorded a 16.8% increase in sales to €201.97 million, reflecting
a strong increase in brokerage commissions and fees of 31.2% on a reported basis and 8.1% on a pro-
forma basis, while insurance premiums declined by 8.4%.
Note that the development of the Group’s international operations continued at a brisk pace, with sales
up 45.0% after nine months.
In light of performances after nine months, in line with reported first-half results, the slightly sharper
decline by Health & Personal Protection being offset by stronger growth by Property & Casualty for both
its domestic and international activities, APRIL remains confident of achieving its sales and operating
profit guidance for the year ending 31 December 2011 (excluding exceptional items linked to the
financial environment).
| (IFRS - €m) | 9m 2011 | 9m 2010 | Change | 9m 2010 pro forma * | Change |
|---|---|---|---|---|---|
| Health & Personal Protection | 370.40 | 391.10 | -5.3% | 391.14 | -5.3% |
| Commissions and fees | 227.81 | 235.08 | -3.1% | 235.13 | -3.1% |
| Premiums | 142.59 | 156.02 | -8.6% | 156.02 | -8.6% |
| Property & Casualty | 201.97 | 172.86 | +16.8% | 196.41 | +2.8% |
| Commissions and fees | 144.58 | 110.18 | +31.2% | 133.73 | +8.1% |
| Premiums | 57.39 | 62.68 | -8.4% | 62.68 | -8.4% |
| Intra-group eliminations | -6.88 | -7.47 | -7.47 |
| (IFRS - €m) | 2011 | 2010 | Change | 2010 | Change |
|---|---|---|---|---|---|
| 1st quarter | 184.08 | 184.07 | 0.0% | 187.64 | -1.9% |
| 2nd quarter | 193.69 | 188.74 | +2.6% | 198.51 | -2.4% |
| 3rd quarter | 187.72 | 183.68 | +2.2% | 193.93 | -3.2% |
| 4th quarter | - | 186.83 | - | - | - |
| Total | - | 743.32 | - | - | - |
* Pro-forma consolidated sales represent sales at the same consolidation scope as for the period under review.
