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

Full Year 2019 Coface SA Earnings Call Transcript

Feb 05, 2020 / 05:00PM GMT

Release Date Price: €11.37 (+0.53%)

Transcript

Operator

Ladies and gentlemen, welcome to the conference call for the presentation of Coface results for the period ending December 31. (Operator Instructions) As a reminder, the conference call is being recorded. Your host for today's conference will be Mr. Xavier Durand, CEO; and Carine Pichon, CFO. I would like to turn the call over to Mr. Xavier Durand. Sir, you may begin.

Xavier Pascal Durand

COFACE SA - CEO & GM

Thank you very much, and good evening to everyone. Thank you for calling into this report. We're happy to report our full year 2019 numbers. As you know, it's an important milestone for Coface, as it is the last year of our Fit to Win plan. I'm even more happy since it's another strong quarter that we are recording and which caps, actually a record year. You see that we're reporting EUR 146.7 million of net income. That's up 20% from last year, and it is a record for Coface. Our turnover reached EUR 1,481 million year-to-date. At constant FX and perimeter, this is up 5.9%. Underlying that growth, and you see that Trade Credit Insurance is growing at 7%

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