COFACE Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	2,495	2,558	2,248	2,786	2,519
Investments in Equity & Preferred Securities	216.95	157.91	121.98	117.89	597.88
Total Investments	3,204	3,242	3,199	2,905	3,117
Cash & Equivalents	501.46	507.83	495.56	553.79	362.44
Reinsurance Recoverable	407.92	393.64	384.81	356.22	636.88
Other Receivables	3,517	3,557	3,402	3,337	3,479
Deferred Policy Acquisition Cost	-	-	-	-	38.9
Property, Plant & Equipment	83.74	85.36	81.82	91.09	102.06
Goodwill	173.7	159.26	157.69	158.44	158.06
Other Intangible Assets	0.26	0.22	0.28	0.4	0.25
Other Current Assets	41.45	0.19	2.4	10.33	10.46
Long-Term Deferred Tax Assets	68.09	54.51	89.9	90.69	58.35
Long-Term Deferred Charges	89.17	80.96	81.74	80	71.65
Other Long-Term Assets	3.26	3.32	3.67	3.53	3.75
Total Assets	8,090	8,084	7,898	7,586	8,039
Accrued Expenses	106.16	106.83	107.14	101.72	107.24
Insurance & Annuity Liabilities	2.98	44.38	72.94	100.28	277.58
Unpaid Claims	1,442	1,456	1,395	1,332	1,351
Unearned Premiums	-	-	-	-	287.5
Reinsurance Payable	-	-	-	-	229.47
Current Portion of Long-Term Debt	5.97	5.86	239.7	11.52	11.34
Current Portion of Leases	1.51	2.36	2.09	-	-
Short-Term Debt	3,072	3,125	2,893	2,927	2,699
Current Income Taxes Payable	132.62	70.84	51.92	61.68	80.71
Long-Term Debt	593.44	592.84	592.05	522.76	379.22
Long-Term Leases	66.84	68.17	65.53	74.62	81.93
Long-Term Deferred Tax Liabilities	117.74	118.25	143.89	125.44	120.33
Other Current Liabilities	0.07	4.11	0.03	0.22	3.48
Other Long-Term Liabilities	263.81	228.48	220.08	248.99	200.22
Total Liabilities	5,875	5,888	5,845	5,565	5,898
Common Stock	300.36	300.36	300.36	300.36	300.36
Additional Paid-In Capital	723.52	723.52	723.5	723.5	810.42
Retained Earnings	1,280	1,252	1,163	1,095	884.34
Treasury Stock	-30.1	-24.32	-23.61	-19.15	-15.72
Comprehensive Income & Other	-61.16	-57.87	-112.83	-80.97	161.64
Total Common Equity	2,213	2,194	2,051	2,019	2,141
Minority Interest	2.28	2.22	2.17	2.27	0.31
Shareholders' Equity	2,215	2,196	2,053	2,021	2,141
Total Liabilities & Equity	8,090	8,084	7,898	7,586	8,039
Filing Date Shares Outstanding	149.26	149.31	149.01	149.06	149.03
Total Common Shares Outstanding	149.26	149.31	149.01	149.06	149.03
Total Debt	3,740	3,794	3,792	3,536	3,171
Net Cash (Debt)	-3,239	-3,286	-3,297	-2,983	-2,809
Net Cash Per Share	-21.69	-22.03	-22.12	-20.01	-18.85
Book Value Per Share	14.83	14.69	13.76	13.54	14.37
Tangible Book Value	2,039	2,034	1,893	1,860	1,983
Tangible Book Value Per Share	13.66	13.62	12.70	12.48	13.30
Land	7.14	7.14	7.14	7.14	7.14
Buildings	76.03	75.84	75.85	75.85	78.14

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.