2016 SPB group annual result : a year of consolidation
The SPB group, European leader in affinity insurance and services, has reported its 2016 financial results. SPB grew its gross revenue by 10% on a like-for-like basis to €307 million in 2016, up from €278 million in 2015. Profitability was 58% higher, with operating profit from ordinary activities coming in at €6.5 million in 2016, compared with €4.1 million in 2015.
Organic growth in spite of a highly competitive environment
Growth of 10% in gross revenue was driven by strong sales momentum.
In France, SPB formed new partnerships with the likes of Auchan, Boulanger and the Paris Opera, to which it will soon add four major opticians’ networks. In Europe, SPB is now supporting Barclaycard in Germany, Proximus in Belgium, Auchan in Portugal and BCC in the Netherlands. Furthermore, existing insurance programmes – notably Cdiscount, Bouygues Telecom and Orange – continued to develop strongly. All in all, SPB has over a hundred major brand partners and manages 50 million policyholders. SPB now generates 25% of its revenue outside its home country. Operating profit from ordinary activities totalled €6.5 million in 2016, compared with €4.1 million in 2015.
2017 outlook reaffirms the pertinence of the group’s strategy
In 2017, the SPB group intends to continue to grow in the priority business sectors of banking, retail and e-commerce, and telecoms, as well as in new sectors offering high growth potential: travel, optics and furnishings. Internationally, SPB intends to focus on its key markets of Germany, the United Kingdom, Benelux, Spain, France, Italy and Poland. The group’s service subsidiaries, SPB Services and Phone Services Center, also intend to continue to expand in the areas of product repair, recycling, reconditioning and resale. Other key themes in 2017 will be innovation (artificial intelligence) and the quest for operational excellence.