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

Coface SA Risks in the Main Export Markets Webinar (Spanish) Transcript

May 25, 2023 / 09:30AM GMT

Release Date Price: €12.13 (-0.98%)

Transcript

Operator

Ladies and gentlemen, thank you for standing by, and welcome to Coface Results 3M 2023 Conference Call. (Operator Instructions)

I would now like to turn the conference over to the CEO, Xavier Durand. Please go ahead.

Xavier Pascal Durand

COFACE SA - CEO & Chairman of Management Board

Thank you. Welcome, everybody, to this first quarter publication call. We're happy to report our net income at EUR 61.2 million for the first quarter. As you know, this is the first time we will be reporting under the new format of IFRS 17 and IFRS 9 accounting standards. We have provided in April a pro forma view of 2022 quarter-by-quarter. So we will be comparing this quarter, the first quarter 2023 to the pro forma 2022 that we had previously disclosed. So under those precisions, our turnover as you see, is up 11.4% at constant FX and perimeter. And if you look down the list of our products, you see that Trade Credit Insurance is growing almost 11%, the client retention is breaking yet another record at almost 96%, pricing is down 1.5%, but less than it did, I

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