Financials SACE - 04 December 2012

Net profit at 30 September 2012: € 214 million (+83%)

Today the Board of Directors of SACE examined the quarterly report and accounts at 30 September 2012, which show a significant improvement compared to a year ago.
 

The highlights of the results at 30 September 2012 and the variation compared to 30 September 2011 are set out below:
 

  • gross written premiums € 200.1 million (-17,2%)
  • charges for claims € 64.7 million (+59%)
  • gross income € 319.8 million (+77,2%)
  • net profit € 214.2 million (+82,6%)
  • shareholders’ equity of € 5,767 million (+2,2%).

In the first nine months of 2012, SACE insured € 7,2 billion of new transactions (+18,4%).


As at 30 September 2012, outstanding commitment amounted to € 33,8 billion (+4,1%). The largest sector remains oil & gas, accounting for 26% of the exposure, followed by infrastructures and construction sectors (19%), metallurgy (9%) and the cruise industry (8%). Russia is the main market for activities with an exposure of € 5.1 billion, followed by Great Britain (€ 1.7 billion), Saudi Arabia (€ 1.6 billion), Qatar (€ 1.6 billion), Turkey (€ 1.4 billion) and Brazil (€ 1.4 billion).
 

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