Negative Currency Impact to European Companies Continues Steady Rise
(SCOTTSDALE, Ariz.) – The release of the Q1 2018 FiREapps Currency Impact Report™ (CIR) details a more than 200 percent increase . . . in European negative currency impacts, with companies quantifying $22.89 billion in headwinds.
Each quarter, FiREapps analyzes the earnings calls of more than 1,200 publicly traded North American and European companies to collect data on the negative impact and volatility of various currencies. Collectively, European and North American companies reported $22.93 billion in negative currency impact.
The quantified negative currency impact reported by European companies more than tripled from Q4 2017 to Q1 2018, while the number of companies reporting that impact decreased by 10 percent from the previous quarter.
North American companies quantified $37 million in losses, a decline of roughly $1 billion from Q4 2017. Additionally, there was a 55 percent decrease in the number of companies reporting negative impacts in Q1 2018 as compared to Q4 2017.
The FiREapps Q1 2018 Currency Impact Report can be used as a benchmarking tool for corporate boards and CFOs to gauge their company’s currency impacts in comparison to other multinational corporates.
To learn about specific industries that were affected and which currencies were most impactful to corporations, download the full report here.
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FiREapps is the leading provider of cloud-based enterprise currency management (ECM) solutions for currency exposure management and enterprise currency analytics. Established in 2005, FiREapps developed the first solution to automate foreign exchange exposure management for multinational companies. Today, the company provides automated solutions to support the analysis and management of currency exposure, as well as the assessment and reporting of how currencies can impact corporate financial performance.
FiREapps is headquartered in Scottsdale, Arizona, with offices in Portland, London and Frankfurt.
For more information, visit www.fireapps.com or call +1 866-928-FIRE (3473).
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