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 2022 Coface SA Earnings Call Transcript

Jul 28, 2022 / 04:00PM GMT

Release Date Price: €10.3

Transcript

Xavier Pascal Durand

COFACE SA - CEO

Thank you. Good evening, everyone, and thank you for joining this call. We're happy to report our first half profit for in 2022. And as you probably saw in the headline, it's remained a very strong operating quarter in Q2 for Coface, EUR 144.4 million of net profit for the first half, solvency at 192%. I think if you look through the publications, and I'll highlight some of the numbers without necessarily commenting on each one of them, but see a number of items that are actually quite strong in quite a few instances, constitute a record for Coface.

Our turnover is up 14.6%, 16.5% on a reported basis. Underneath that, you find trade credits at 16.1%. Retention of clients, I think at our best ever 93.9%. Pricing continues to be under pressure as we've experienced over the -- actually, the course of the last almost a year. Business information, remember, we had an 11% quarter in Q1.

We -- in Q2, we saw good momentum with a slightly above 20% growth and strong high double-digit growth in the new business from last year. I mean, the losses remain really

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