Coface Sa (COFAF) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.385 -- 00:00:06.054 Good day, and thank you for standing by. Welcome to QFAS first quarter results presentation. 00:00:06.054 -- 00:00:09.599 At this time, all participants are in listen-only mode. 00:00:09.599 -- 00:00:13.145 After the speaker's presentation, there will be the question and answer session. 00:00:13.145 -- 00:00:17.231 To ask a question during the session, you need to press star, one, one, on the telephone 00:00:17.231 -- 00:00:22.118 keypad. You will then hear an automatic message advising your hand is raised. 00:00:22.118 -- 00:00:24.462 To withdraw a question, please press star, one, one, again. 00:00:24.462 -- 00:00:29.206 Please be advised that this conference is being recorded. 00:00:29.360 -- 00:00:33.367 I would now like to hand the conference over to our speaker today, Xavier Durand. 00:00:33.367 -- 00:00:35.767 Please go ahead. 00:00:35.971 -- 00:00:39.477 Thank you very much and good evening. Thanks to all of you for joining. 00:00:39.477 -- 00:00:45.908 Happy to report today our first quarter 2025 numbers. 00:00:45.908 -- 00:00:50.456 You all have seen from the headline, it continues to be a good story for COFAS. 00:00:50.456 -- 00:00:53.677 We're reporting net income at $62.1 million. 00:00:53.677 -- 00:00:55.219 The 00:00:55.219 -- 00:01:00.286 turnover is up 2% at constant FX and parameter 00:01:00.286 -- 00:01:02.789 with trade credit insurance growing actually 1.2%. 00:01:02.789 -- 00:01:08.136 That's an inversion of the trend that we had last year as we've had, 00:01:08.136 -- 00:01:11.981 I think, a negative or zero activity through most of the year. 00:01:11.981 -- 00:01:14.644 Client activity is up 1.2% 00:01:14.644 -- 00:01:16.627 for this quarter. 00:01:16.627 -- 00:01:18.990 Client retention near 00:01:18.990 --...