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

Q3 2020 Coface SA Earnings Call Transcript

Oct 26, 2020 / 05:00PM GMT

Release Date Price: €6.58 (-1.35%)

Transcript

Operator

Ladies and gentlemen, welcome to the conference call for the presentation of Coface results for the period ending September 30, 2020. (Operator Instructions) As a reminder, this conference call is being recorded. Your host for today's call will be Mr. Xavier Durand, CEO; and Carine Pichon, CFO. I will now turn the call over to Mr. Xavier Durand. Sir, you may begin.

Xavier Pascal Durand

COFACE SA - CEO

Thank you very much, and good evening to all. Thank you for joining us tonight.

We're happy to report our third quarter results tonight. And as you've seen from the headlines, we're reporting EUR 52.4 million of net profit in the first 9 months of the year, of which EUR 28.5 million in the third quarter. We're also activating, and I'll talk more about this, a EUR 15 million buyback program.

In terms of the key headlines, our turnover is at EUR 1.82 billion. It's down 0.9% at constant FX and perimeter versus last year. The third quarter itself is down 2.2%.

Underlying these trends, you see some of the same forces at play that we've

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