Q3 2024 Coface SA Earnings Call Transcript

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Nov 05, 2024

Nov 05, 2024 / 05:00PM GMT
Operator

Good day, and thank you for standing by. Welcome to the Coface nine months 2024 results presentation. (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 Durand - Coface SA - Chief Executive Officer, Member of the Management Board, Member of the Executive Board

Thank you, and good evening to all here in Paris. It's 6:00 p.m. Thank you for joining. We're happy to report our Q3 earnings today. You will have read from the headlines that this was another strong quarter of execution for Coface.

We're reporting EUR 207.7 million net profit in the first 9 months, which means EUR 65.5 million in the third quarter.

I think if you read through this report, you'll see the continuation of some of the trends we discussed in the past quarters, but also, I would say, some better news on the growth side as we're seeing the inflation cycle playing through. You've seen net insurance revenue decrease by about 4% at

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