Annual report 2007 - Euler Hermes

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Interview Clemens von Weichs, Chairman of the Group Management Board, reviews 2007 and outlines the main challenges facing the group in the coming years. 4 – ANNUAL REPORT 2007 HOW DO YOU VIEW EULER HERMES’ PERFORMANCE IN 2007? Clemens von Weichs: 2007 was a highly satisfactory year for Euler Hermes in every way. We achieved double-digit growth in the United States, in Central and Eastern Europe and in emerging countries. In Western Europe, our traditional market, we recorded very good results, namely in Scandinavia, Italy, the United Kingdom and France. All in all, we exceeded our overall target of 5% growth at constant exchange rates. Note that we have consistently surpassed our targets over the past five years, an achievement that the group is entitled to feel proud of. We continued to expand our international network in 2007, setting up operations or strengthening existing ones in China, Turkey, Australia, New Zealand, Dubai and Argentina. We have also continued to develop our debt collection and surety bonds activities.
IN 2007, EULER HERMES ADOPTED A NEW SLOGAN: “EULER HERMES, THE PREFERRED PARTNER FOR TRADE RECEIVABLES MANAGEMENT”. HOW DOES THIS ILLUSTRATE THE GROUP’S STRATEGY? C. v. W.: Our first aim is to inform companies and protect them against business risks. This is the aim of credit insurance, which remains our prime strategic focus. At the same time, thanks to our unparalleled international network and our in-depth knowledge of business risk, we have an ideal organisation for developing other services linked to trade receivables management. One of these is debt collection, which is a very promising new source of growth. We have also ensured other sources of growth for the future by extending our surety bonds activities to the European market and setting in place a trade receivables financing offer. “Euler Hermes is ideally positioned to offer the full range of trade receivables management services.” YOU FREQUENTLY UNDERLINE THE RELATIONSHIP OF TRUST THAT YOU WISH TO BUILD WITH EULER HERMES’ CLIENTS… C. v. W.: Every aspect of Euler Hermes’ strategy and operational management must inspire confidence. Our services must be perceived as unique. This is possible thanks to the personal involvement of each member of our staff and an organisation that places the client at the centre of all our actions. In this respect, I would like to highlight the success of the i2s (“ideas to success”) initiative launched at the end of 2006 and designed to foster innovation within the group. In just one year, Euler Hermes’ staff submitted close to 2,000 innovative ideas, mostly client focused, many of which are gradually being implemented. It is these sort of initiatives that enable us to build a relationship of mutual trust with our clients. WHAT ARE THE MAIN CHALLENGES FACING THE GROUP IN THE YEARS TO COME? C. v. W.: I see three major challenges. Firstly, we must continue to integrate the group which we started five years ago when the Euler Hermes group was created. It is important for us to be seen as a homogenous group capable of offering the same quality of service anywhere in the world. We also strive to strengthen our client focus even further. Each and every action we take should benefit our clients and they must recognise the added value that Euler Hermes brings them. Finally, we aim to attract and keep the best talent, while making the most of the diversity of our existing staff, because a company is only as efficient as its staff. Clemens von Weichs Chairman of the Group Management Board ANNUAL REPORT 2007 – 5
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Annual report 2007 - Euler Hermes

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