Coface SA (XPAR:COFA)

€ 14.23 0.07 (0.49%) Market Cap: 2.13 Bil Enterprise Value: 3.27 Bil PE Ratio: 10.78 PB Ratio: 1.00 GF Score: 82/100

Half Year 2019 Coface SA Earnings Call Transcript

Jul 25, 2019 / 04:00PM GMT

Release Date Price: €10.61 (-0.47%)

Transcript

Operator

Ladies and gentlemen, welcome to the conference call for the presentation of Coface's results for the period ending 30th of June. (Operator Instructions). As a reminder, this call is being recorded.

Your host for today's call are Xavier Durand, CEO; and Carine Pichon, CFO.

I'd like to turn the call over to Xavier Durand. Sir, please begin.

Xavier Pascal Durand

COFACE SA - CEO & GM

Thank you, and good evening, everybody. Thank you for joining this call. We're announcing our first half 2019 results. As you can see from the headlines, the second quarter turned out to be another strong quarter for Coface. Our net income for the first half is up 25% at EUR 78.5 million. The return on average tangible equity comes in at 9.6%. In fact, these numbers happen to set a record for the business. The other important news is that we've submitted, earlier today, our partial internal model to the French regulator, and they now have 6 months to provide us with their comments and decisions.

So just a few words on Page 4 on the headlines. Turnover

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