Linea Directa Aseguradora, S.A. (LNDAF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all of you, and thank you for joining the call today. Welcome to Linea Directa's first half results conference call. Presenting today is Carlos Rodriguez Ugarte, our CFO. And after the presentation, as usual, we'll open up the call to Q&A. And with these words, over to you, Carlos. Thank you very much, Beatriz, and good morning to everybody on the call. We are very pleased to deliver an excellent set of results for the first half of the year. As always, I would like to start by commenting the key figures on page number five. In a nutshell, we are delivering high organic growth and profitability, excellent return on equity, and a strong balance sheet. Business growth accelerated to 10.8%, with motor at 11%, home at 7.5%, and health at 13.6%. The portfolio of customers grew in more than 241,000 policies to 3.58 million. Combined ratio stood at 92.3%, down 3.2 percentage points. Net income rose to 43.8 million euros. Return on average equity rose to 23%. And finally, solvency increased to 193.2%. Moving to page number six. Here the message I would like to convey is consistent with what we said in 2024. Further acceleration in the top line and sound retention levels by increasing the loyalty of our customers and attracting new ones to our brand. We posted a better underwriting result from strong revenue growth and sound six months combined ratio with further improvement in claims and expenses. The evolution of the financial result was remarkable, up 33.9% with higher income from the bond and equity portfolio and the significant evaluation of investment funds. And all things together led us to a profit after taxes of 43.8 million euros, up 72% over the six months of 2024. Excuse me. As with regard business volumes and clients, all line of businesses report...