Activity Report 2019 2019: the Rise of the Group
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Experience FIRST Activity report 2019 2019: the rise of the group A year marked by cohesion 2019 was a year of achievements, reasserting Gilles SAURET coherence and the rise of our group: a success which CEO of Cofidis Participations group relies on our 3 commercial brands, in line with their trajectories, which combines with the reinforcement of our international presence. All our subsidiaries shine their light once again on relational excellence and the symetry of attentions paid to both our Our group now considers more customers and employees: the labels « Voted Best than ever the human aspect as 2019 saw the launch of Customer Service of the Year » and « Great Place to Work » as well as the recognition from the Forbes our key to success: it is our drive magazine for monabanq come to reward our kept and our mission. our Experience First promises. An asserted commitment with Experience First Taking ambition towards a stronger leadership group project: more than ever While synergies are bound to increase between These circumstances do not distract us from our the group’s brands and with our shareholder Crédit ambitions, and we are resolutely looking to the Mutuel Alliance Fédérale, in order to capitalise on future. With the Experience First project, we are we share a common ambition, our expertise and enrich each other, 2019 saw the aiming for a high level of digitalisation and data launch of our Experience First group project: more control to meet the requirements of our customers than ever we share a common ambition, that of that of innovation in the service and partners. Direct acquisition, the group’s innovation in the service of customer relations, that historical activity, continues to be strengthened by of leadership that keeps people at the heart of its relying on brand awareness and this permanent concerns. United by the same passion for living and of customer relations, that of innovation. The Cofidis brand is moving towards making people live an extraordinary experience, we leadership in payment methods in Europe with the are part of a collective dynamic, concerned about Amazon partnership in France, now in Spain and the fulfilment of each individual. This movement, leadership that keeps people at soon in Italy. The brand is also increasingly present bringing with it a part of transformation of our in the automotive and home improvement markets. organization, is all the more promising as it is faithful For their part, Creatis is confirming its leadership in to our DNA and our values. the heart of its concerns. the brokerage of credit repurchases, and monabanq, the group’s mobile bank, is confirming its trajectory An agile and supportive group even in times of towards profitability. Thus we experiment on our crisis core business resilience in a troubled context while The beginning of the year 2020 has given an having the means to do so: by increasing its share in unexpected resonance to our project. The Covid-19 our capital to 80%, Crédit Mutuel Alliance Fédérale health crisis, which is affecting our group as it does has enabled us to fully integrate one of France’s most all of our worldwide activities, reveals the group’s powerful banking groups. We shall be loyal to our capacity for resilience, its agility and its alignment: commitments: to our customers and partners, to our a high level of health safety for our employees in employees, to our shareholders, to the charities and all of our locations, massive and rapid deployment cultural Associations we support, and to our cycling of teleworking, no recourse to short-time working team who is now challenging the World Tour. Carried to leave national solidarity to companies in mortal by the Experience First inspiration, our group now danger, ad hoc support for our partners and considers more than ever the human aspect as our customers, support from associations and solidarity key to success: it is our drive and our mission. movements throughout Europe... We are proud to have been able to assert our values in a difficult and unprecedented context. For us, the experience must above all improve and simplify people’s lives. This is our In 2019, we have chosen to make this daily challenge, and we are common impetus our promise, which must guide our development and affirm united by a passion to provide our identity in a changing world. Because to our employees, to our we do not want sustainable performance without human relations, and because customers and to our partners we do not want economic performance without commitment, the Cofidis an experience that gives Participations group unites its strengths emotion its rightful place. and talents in a collective project, accelerating the transformation and performance of the group: Experience First. Summary 08 F orging our image To affirm our pride in composing an international, expert, innovative but also human, responsible and committed group. 26 I nnovating together daring To best support our customers in their life projects, our partners in their development, and our employees in their employability. 40 Reinventing customer experience To live with our clients, partners and collaborators an experience where the consideration quality of the relationship is at the centre, an experience that creates real emotions. 54 S timulating collaboration To open up to the world, to put human beings at the heart and to provide our agility employees with an exciting professional experience. 76 T ransforming our organisation To be even more agile and closer to our customers, partners and collaborators by offering a 100% human and 100% digital experience. 94 Consolidated financial statements responsibility AT 31 DECEMBER 2019 106 Notes TO THE 2019 CONSOLIDATED FINANCIAL STATEMENTS Forging our image 5,370 9 EMPLOYEES COUNTRIES 3 1 It is an affirmation of COMMERCIAL BRANDS EIG our pride in composing an international, expert, 14,983 innovative but also human, million of euros responsible and committed OF GROSS OUTSTANDING LOANS IN 2019 group. +10% increase IN GROSS OUTSTANDING LOANS COMPARED TO 2018 10 FORGING OUR IMAGE Strong and ambitious brands monabanq, the group’s 100% digital bank Cofidis, specialist in distance credit sales and personalised customer relationship management monabanq is a 100% online bank dedicated to individuals, one of the French leaders in online banking for 15 years... and recognised by Forbes magazine as the best French bank! Created in France in 1982 with a new concept, that In fact monabanq offers a banking service adapted of telephone credit, Cofidis began its international to the lifestyles of its customers offering autonomy, development with Cofidis Belgium in 1985. competitiveness and availability. 38 years later, Cofidis operates in 9 European This service combines a digital ecosystem with a Our corporate project countries with the same desire to offer the human relationship, in line with the posture of the best experience to its customers, partners and brand: monabanq strives to make money easier to «people first»: a new human employees: in France, Belgium, Spain, Italy, Portugal, use in order to simplify people’s lives, with an offer dynamic that is indispensable the Czech Republic, Hungary, Slovakia and Poland, that is accessible « regardless of income ». in the period of development Cofidis provides remote credit solutions and creates Our quest for customer a personalised relationship based on a positive and satisfaction remains our we are experiencing. dynamic emotion. strategic priority. Alain Colin Chief Executive of monabanq Nicolas Wallaert Chief Executive of Cofidis France Creatis, credit consolidation specialist Synergie, the subsidiary at the service of subsidiaries Creatis is a bank specialising in credit consolidation, offering a full range of consumer credit consolidation Synergie is the subsidiary at the service of the as well as personal loans with the support of a subsidiaries, whose vocation is to support all the network of expert partners. entities of the Cofidis Participations group in their By giving all its customers the Power to Act on their economic, social and human performance. As a fully- budget and their life projects, Creatis is committed fledged entity, Synergie facilitates links between to availability, accessibility and budget support, thus entities, calls for the sharing of best practices, and being a real reference player in financial support through its action supports the group’s development. By capitalising on its main solutions. Synergie’s ambition: to be a Thinking «group» while acting «specific», that’s what strength, its employees, Creatis Creatis’ commitment also goes beyond its primary creator of value and an actor in Synergy is all about. The employees, all of them and develops a sense of belonging and missions: by relying on a community of passionate attentive to the needs of the subsidiaries, respond to employees cultivating proximity and solidarity, the transformation of the group. them with a state of mind of their own, characterized a strong corporate culture. Creatis affirms its desire to be useful to the world. by expertise, efficiency and collaboration. Thierry Vittu Guillaume Leman Head of Human Resources and Communication Chief Executive of Creatis 12 FORGING OUR IMAGE FORGING OUR IMAGE 13 BELGIUM CZECH REPUBLIC POLAND €932 M €88 M €50 M An international group OUTSTANDING LOANS OUTSTANDING LOANS OUTSTANDING LOANS +5.5%* +13.6 %* +42 %* in development 396 138 72 EMPLOYEES EMPLOYEES EMPLOYEES The group’s presence in 9 European countries constitutes