APRIL Sales at end September 2018

Reported growth of 8.5% to €748.8m, in line with expectations

Sales growth of 7.3% like-for-like¹
Strengthened brokerage commissions, up 4.1% in reported figures and 2.0% like-for-like, to €399.3m, driven by both divisions
Sharp increase in insurance premiums, up 13.9% (as reported and like-for-like) to €349.5m

The APRIL group reported sales of €748.8m for the first nine months of 2018, up 8.5% as reported compared to the previous year. Following this announcement, APRIL CEO Emmanuel Morandini made the following comments:

Nine-month sales growth is in line with our expectations for the year and confirms the sustainability of the group’s business momentum. Organic growth in commissions accelerated in both Health & Personal Protection and Property & Casualty, while the early 2018 slowdown in loan insurance is now behind us. Growth has also been driven by strong performances from the main four acquisitions made in 2017 and 2018, which have helped us to pursue our strategy of exporting the group’s expertise and expanding our footprint in key markets. Thanks to these excellent performances and the hard work put in by all our teams, we now target the upper end of our current EBIT growth target of 6 to 10% and continue the transformation of our group to evolve towards a more open, multi-brand model.

¹Proforma 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.

APRIL

23 October 2018