Linea Directa Aseguradora, S.A. (LNDAF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all of you and thank you for joining us today. Welcome to Linea Directa's full year 2025 results conference call. My name is Beatriz Izar and I am head of investor relations. Presenting today will be our CFO, Carlos Rodríguez Ugarte. After the presentation, we will open the call for a Q&A session. I will now hand the floor over to Carlos. Thank you very much, Beatriz, and good morning to all of you. 2025 has been an exceptional year for Linear Director. Please let me guide you through the financial highlights presented on the first slide of the deck. Net income increased by 33.5%, reaching 86 million euros. This strong result reflects a combination of growth and profitability. We delivered top line growth of 11.3%, an improvement of 2.1 percentage points in the combined ratio compared with last year, that is, a combined ratio of 92.6%. Our customer portfolio increased by a superb 8.5%, reaching 3.73 million clients. We added more than 290,000 clients to our portfolio, making the highest annual growth in our history. Return on equity rose to 22.9%, underscoring the efficiency of our business model. Finally, the strong results and solid solvency position have led the Board to propose a complementary dividend of €50 million to the upcoming AGM. After accounting for this dividend, the solvency ratio stands at 182.6%. Now, if we move to the next slide, we consistently emphasize the importance of efficiency in our business model. It enables us to offer more competitive prices to our customers. to operate with healthy combined ratios, and lastly, efficiency is a critical driver of service quality. The digitalization of service continues to deliver outstanding results, with all indicators surpassing the levels achieved at the end of last year. This includes s...