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Financials SACE - 30 May 2016

First Quarter 2016 results: net profit € 102 million

The Board of Directors of SACE today examined the first quarter 2016 report.


Initiatives in the quarter to support the exports and internationalization of Italian companies totaled € 1.5 billion, 33.5% more than in the first quarter of last year.


The following are the financial highlights:


  • profit before taxes € 156.4 million, 4,7% more than at 31 March 2015
  • ·net profit  € 101.9 million, generally in line with the result of the first quarter of 2015 (€ 100.1 million)
  • gross premiums € 38.3 million (- 32%)
  • claims € 130.8 million (+ 91%), the increase reflects primarily compensations paid for Italian supplies in the shipping and the metallurgy sector.
  • recoveries€ 226 million, significantly higher than the € 35.6 million in credits recovered in Q1 of 2015, due primarily to the agreement to recover Iranian sovereign credits signed last January.


Equity at 31 March was € 4.1 billion.


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