Feb 20, 2025 / 05:00PM GMT
Xavier Durand - Coface SA - Chief Executive Officer, Member of the Management Board, Member of the Executive Board
Thank you very much. Welcome to all to this closing 2024 call. So we're happy today to report our fourth quarter and total year numbers. You will have seen from the headlines, another good quarter for COFACE yielding EUR53 million of net income in the fourth quarter, bringing the total year at EUR261 million. It's been a better quarter, I would say, on the growth side.
You can see that our total revenues are just slightly down from 2023 at minus 0.6%, whereas I would say during the first three quarters, we saw much lower numbers in comparison. The insurance revenue is down 2.2%. Client activity for the first time in a while has been slightly positive in Q4. We also had positive net production for the entire year.
As we discussed in the prior quarters, our client retention has remained high at 92.3%. The pricing has been down at 1.4% in line with the historical trend in this industry. We've continued to see good growth at our information business venture at more than 16%.
Full Year 2024 Coface SA Earnings Call Transcript
Feb 20, 2025
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