The FSA (Financial Statement Analysis) WG in collaboration of the BACH WG releases:

- Profit margins of non-financial corporations in European countries 

The FSA (Financial Statement Analysis) Working Group releases:

- Customer and supplier payment periods of non-financial corporations 

- The financing costs of non-financial corporations

The Irving Fisher Committee on Central Bank Statistics (IFC) of the Bank for International Settlements (BIS), the European Committee of Central Balance Sheet Data Offices (ECCBSO) and the Banco de España  jointly organise a workshop on New insights from financial statements on 17 October 2024 in Madrid.

The event will be broadcasted online. The link will be published on 14.10.2024 here. 

Banco de España has published the Statistical Note “Business Sector Classification and Beyond Using Machine Learning”:

• Link to the document.

This publication outlines several applications of Artificial Intelligence within Banco de España's Central Balance Sheet Data Office. Specifically, machine learning models are used for the automatic classification and sectorization of entities.

ERICA WG has published its document: "European non-financial listed groups: Analysis of 2022 data"

The study presents some highlights of European non-financial listed groups, on profitability and financial structure in 2022, as well as financial debt structure and cost of debt. One of the main finding is the strong increase in retained earnings and the development of other reserves led to a steep growth in equity. The financial debt structure remained fairly stable and the cost of debt increased due to the lagged effects of interest rate hikes.

The Irving Fisher Committee on Central Bank Statistics (IFC) of the Bank for International Settlements (BIS), the European Committee of Central Balance Sheet Data Offices (ECCBSO) and the Banco de España  jointly organise a workshop on New insights from financial statements on 17 October 2024 in Madrid.

Link to the Call for paper

The workshop aims to bring together statisticians, researchers and data analysts. It offers a place to discuss recent research findings on the use of firm-level information and will take place directly before the annual meeting of the ECCBSO. Its outcome will radiate in the central banking community, help to understand current needs of users of granular corporate information and be an input to determine the work programs of the ECCBSO and the IFC.

We invite researchers, data analysts and statisticians to submit possible contributions for consideration by the organizing committee. Accepted contributions will be published in a special issue of the IFC Bulletins series.

The workshop will take place in hybrid format with a preference for physical presentation. 

Please send the title and abstract (maximum 400 words) of your paper by 31 May 2024 to the email addresses below. The other important deadlines are:

• 14 June 2024: Acceptance notification;

• 30 September 2024: Submission of papers;

• 4 October 2024: Submission of presentations.

Email addresses:       

IFC.secretariat@bis.org

eccbso-sekretariat@bundesbank.de

central.balances@bde.es

The FSA (Financial Statement Analysis) Working Group releases

- Recent trends in customer and supplier payment periods of non-financial corporations (Trade Credit_Report) and

- Financing costs of non-financial corporations in European countries: a statistical analysis based on accounting data (The Financing Costs of NFC in European Countries)

ERICA WG has published its document Annual Synthesis of the year 2023.

This brochure provides an overview of the work carried out by the ERICA WG during the year 2023. It also includes a summary of the content of the 2021 ERICA database and the analysis that was done by means of the data collected from 2021 annual reports. Finally, the list of document published during the year 2023 and the work plan for the year 2024 can be consulted.

ERICA WG has published its document: "European non-financial listed groups: Analysis of 2021 data"

The study presents some highlights of European non-financial listed groups, on profitability and financial structure in 2021, as well as financial debt structure and cost of debt. One of the main findings of the study is that EBIT, profits and revenues showed a clear recovery across all countries, sectors, and size classes after the pandemic caused heavy cutback in 2020. Mainly boosted by profits and thus retained earnings, equity rebounded after the pandemic hit. Both the indebtedness of European listed groups and the cost of financial debt continued their downward trend in 2021. 

The ERICA WG has published a new “ERICA series” document: "Goodwill analysis"

The objective of this study is to analyse goodwill amounts recognised in a sample of European non-financial listed groups through two prisms: (a) to understand the goodwill evolution and (b) to assess the relevance of amounts of goodwill recognised in annual accounts, particularly with regard to the risk of overestimation. The analysis shows that the economic context in which the company is operating is reflected in the general trend in goodwill and that the change in goodwill amounts recorded over the period 2016-2020 does not show any difference from the market's perception of the economic environment.