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 2021 Coface SA Earnings Call Transcript

Feb 15, 2022 / 05:00PM GMT

Release Date Price: €12.17 (+2.10%)

Transcript

Operator

Good day, and thank you for standing by. Welcome to the 2021 Results Announcement Coface Conference Call. (Operator Instructions) I would now like to hand the conference over to your speaker today, Xavier Durand. Please go ahead.

Xavier Pascal Durand

COFACE SA - CEO

Thank you, and good evening, everyone. Thank you for joining this call. We're happy to report our full year 2021 results. I think you're aware, this has been quite an exceptional year for Coface. Nothing really happened in this plan, but it's still a year where we managed to reach all of our key objectives.

We're reporting today a total net profit of EUR 223.8 million net income, of which EUR 32.9 million in the fourth quarter of 2021. The piece I think I'm pleased with is the turnover growth, which reached EUR 1.568 million (sic) [EUR 1,568 billion] year-to-date, which is up 8.3%; everything else similar for the year.

And if you look at the underneath stories, Trade Credit Insurance is growing close to 10% at 9.7%. The pricing is still slightly positive, but as I have

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