Mapfre, S.A. (MPFRF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to MOPFRE's activity update for the first half of 2025. This is Leandra Clark, Head of Investor Relations and Capital Markets. Thank you for joining us today. We are pleased to have here with us Jose Manuel Enchausti, Vice President of MOPFRE, who will provide some opening remarks and an overview of recent business trends. Following that, Jose Luis Jimenez, our group CFO, will discuss the main financials, and Felipe Navarro, Deputy General Manager of the Finance Area, will walk us through the balance sheet. As a reminder, we report IFRS financial information twice a year, and we have reported the half-year accounts to the CMV this afternoon. The information in this activity update is prepared under the accounting policies applicable in each country, which generally do not apply IFRS 17 and 9. Jose Luis will also go over the main IFRS KPIs during the presentation. You can use the Ask a Question link at any point, and we will open up the question and answer session at the end of the call. I will now hand the floor over to José Manuel Enchausti. Thank you, Leandra. Good afternoon, everyone, and thank you for your time today. Let me share some highlights of the quarter before José Luis and Felipe walk you through the details. We are at the midpoint of our three-year strategic plan, and Jim's figures are proof of the progress we have made. We are delivering figures in line with almost all updated targets announced at the AGM except growth, although it remains strong in local currencies. Recent exchange rate movements from the current macro and geopolitical situation have impacted our top line, especially the US dollar and Latin America currencies. Premiums have still grown over 5%, reaching 16 billion, a 10% increase at constant exchange rates. ...