The Board of Directors of Sace SpA today examined the results as at 30 September 2012, which show a decisive recovery compared to the corresponding period last year. Net profit amounted to Euro 214,2 million, an increase of 82,6% compared to 30 September 2011.
In the first nine months of the year, 7,2 billion euro of new business was insured, an increase of 18,4% compared to the 6,1 billion euro insured in the same period of 2011. 62% refers to export or investment opportunities aimed at both advanced markets (such as Norway, Israel and Portugal) and emerging markets. Among the latter, noteworthy destinations by now traditional Made in Italy, such as Russia and Brazil, and other geographical destinations that are showing growing dynamism such as Mexico and Peru in Latin America, India, the Philippines and South Korea in Asia, South Africa in Sub-Saharan Africa. The remaining 38% of the insured volumes instead regards credit lines intended to support internationalization projects of Italian companies or strategic infrastructural projects for the country's economy.
The portfolio of insured operations as at 30 September 2012 rose to € 33,8 billion, an increase of 4,1% compared to 30 September 2011. The main sector remains oil & gas, which represents 26% of the exposure, followed by from the infrastructure and construction (19%), metallurgical (9%) and cruise (8%) sectors. Russia is confirmed as the main foreign market for assets 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).
