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 2023 Coface SA Earnings Call Transcript

Nov 14, 2023 / 05:00PM GMT

Release Date Price: €11.7 (+0.17%)

Transcript

Operator

Good day, and thank you for standing by. Welcome to the COFACE SA 9 Months 2020 Results Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Xavier Durand, CEO. Please go ahead.

Xavier Pascal Durand

COFACE SA - CEO & Chairman of Management Board

Thank you, and good evening, everyone, and welcome to our third quarter earnings call. You all have seen now on the headlines that we are reporting close to $190 million net profit in the first 9 months of the year, which represents $60.9 million in the third quarter of 2023. Another strong quarter for Coface in a changing environment. If I go through the numbers very quickly, you see turnover for the first 9 months is up 7.1%, all everything else equal with premiums growing 6.6%. Now, what's new here is I think in the third quarter, we've seen negative client activity. That's driven by, on one hand, lower inflation.

I think the headline news today highlight us pretty well and a

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