Support for Italian exports is growing. Sace, a company of the CDP group which deals with supporting the international activity of companies, has mobilized 22,4 billion euros in 2016 to support the export and internationalization activities of Italian companies. This is the highest level in the Company's history, up 30% from 2015.
"These are important results achieved in a complex scenario, with which Sace demonstrates its ability to combine its growing commitment alongside businesses with great capital solidity and good levels of profitability - said Alessandro Decio, the company's CEO - The 2016 results outperform all dimensions the objectives of the Business Plan, thanks to the contribution of all the operating companies and synergies with the parent company CDP. A strong growth of which we are proud, in support of Italian exports, which in fact has confirmed particularly encouraging signs in recent months”.
A good performance was recorded during the year for all business lines, increasingly aimed at foreign markets. L'operations in support of exports (guarantees and interest subsidies on loans disbursed to foreign buyers of Italian goods and services and insurance against the risk of non-payment) generated more than half of the total resources mobilized (11,6 billion euro), with a growth of 42% compared to 2015.
Particular dynamism was recorded in the markets of the United States, Russia, Brazil, Mexico, Turkey, the United Arab Emirates, Saudi Arabia, Kenya and Cameroon.
Le activities in support of internationalization mobilized 2,2 billion euros, of which 53% related to guarantees on loans granted to Italian companies for international development activities, 32% to sureties for international tenders and contracts, the remaining 15% to subsidized loans and shareholdings in capital.
The performance of the factoring business, through which Italian companies have transformed 2,7 billion euros of receivables into liquidity, to which must be added 1,8 billion euros released in synergy with the other group companies. Transactions with foreign countries are growing, generating 56% of the total turnover, compared to 35% in the previous year. The incidence of private debtors also increased (from 58% to 83%) compared to those of the Public Administration, down to 17%.
Also expanding credit insurance business a short-term and guarantees, through which 5,9 billion euros (+25%) were mobilised, mainly in favor of small and medium-sized enterprises.
The was also launched during the year foreign debt collection service, an area in which SACE boasts almost unique expertise in Italy, thanks to almost forty years of activity on emerging markets, ten offices abroad and a network of local correspondents all over the world.
THENet income of Sace amounted to 303,5 million euros, a decrease of 25% compared to 2015 due to the contraction of the financial management result (in line with the market trend) and the strong further strengthening of the technical provisions (+12% ). Roe stands at 6,7%. The consolidated net profit, calculated according to the IFRS-IAS principles, is equal to 481,9 million euros (+56%).
