Coface Sa (COFAF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the COFAS SA full year 2025 results presentation. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1, 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. 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 of the company. Please go ahead. Thank you. Welcome, everyone. Thank you for logging in. We're happy to report our full year, 2025. performance for tonight. Just before we start this, I'll just strike a little bit of a personal note to say that this is, I've just completed my 10th year as the CEO of Cofas, which means this is my 40th meeting of the presentation, quarterly presentations. It's been quite a journey at the head of this company, which is in deep transformation. It's also been successful, I think, from a financial standpoint. Our TSR, annual TSR through the period has been 17.5%, which means that investors who had chosen to invest with us 10 years ago have multiplied their money by five. So, quite a journey, and we're looking forward to what's to come. You all have seen the numbers. We're reporting 222 million of net profits in 2025. which means 45.8 in Q4 of the year. It brings the total earnings of the company for the last four years to 1 billion euros, so that's another landmark for us. Just going through the details, you will see that revenue was up 1.3%, all things equal, with insurance growing 0.6%, positive client activity but clearly lower below the histori...