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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
COFACE
COFACE (COFA) investor relations material
COFACE Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary2 Nov, 2026
Executive summary
9M-26 revenue rose 1.7% at constant FX and perimeter to €1,413.3m; net income was €155.5m, including €47.7m in Q3, and annualized ROATE was 10.7%.
Q3 revenue grew 5.4%, supported by record new production and stronger client activity; results also reflected growing services, higher costs and more large claims.
Financial highlights
9M reported revenue increased 1.9% YoY; insurance revenue was €1,135.6m and other revenue €277.7m.
Operating income declined 7.2% to €242.8m and net income fell 11.8% to €155.5m; the effective tax rate was 26%, versus 23% a year earlier.
Net earned premiums increased 0.7% to €820.8m; underwriting income after reinsurance was €220.2m, down 0.9%.
Net investment income excluding finance costs rose 47.5% to €67.0m; insurance finance expenses were €39.5m versus €0.9m in 9M-25.
Outlook and guidance
Higher interest rates, energy and commodity costs are expected to keep pressuring vulnerable corporates and sovereigns; preventive measures around vulnerable firms have been stepped up.
Services revenue is on track to reach 12% of insurance revenue by year-end; continued investment in prevention, data and technology is planned.
Reinsurance renewals were expected to retain favorable conditions, with no major change to program structure anticipated.
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Latest events from COFACE
- Net income down 13.2%, but solvency and non-insurance growth remain strong.COFA
Q2 2026 - 2025 accounts, €1.25/share dividend, and board renewals approved amid resilient results.COFAAGM 2026
- Net income fell 13.7% to €53.6m as services revenue surged and cost ratios increased.COFAQ1 2026
- Net income €222m, combined ratio 73.1%, solvency 197%, €1.25 dividend proposed.COFAQ4 2025
- Net income reached €176.3m, with revenue up 1.8% and net combined ratio at 71.9%.COFAQ3 2025
- Net income down 12.7%, revenue up 2.3%, solvency strong at 195%, investments ongoing.COFAQ2 2025
- Net income up 9.5% to EUR 207.7m, with a 64.4% combined ratio and strong service growth.COFAQ3 2024
- Net income up 10.4% to €142.3m, with improved combined ratio and strong solvency at 195%.COFAQ2 2024
- Net income up 8.6% to €261.1m, robust solvency, and a proposed €1.40 dividend.COFAQ4 2024
Next COFACE earnings date
Q4 202618 Feb, 2027
COFACE
Next COFACE earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
Coface SA, stylized as COFACE, is a French multinational company that provides credit insurance and risk management services. The company offers a range of solutions to protect businesses against the risk of non-payment by their customers. These services include trade credit insurance, factoring, business information, and debt collection. COFACE operates globally, serving clients across various industries by helping them manage and mitigate credit risks associated with domestic and international trade. The company's expertise lies in evaluating the creditworthiness of companies and providing coverage that secures trade transactions. The company is headquartered in Bois-Colombes, France, and its shares are listed on the Euronext Paris.