Mapfre, S.A. (MPFRF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Marfa's full year 2025 activity update. This is Felipe Navarro, Deputy General Manager of the Finance Area. We are pleased to have here with us Antonio Huertas, the Group Executive Chairman. He will make a few opening remarks and will give an overview of business trends and developments. Following to that, José Luis Jiménez, the Group CFO, will give us a brief overview of the IFRS figures and will discuss the main financials under local accounting. I will walk you through the balance sheet and capital-related topics. Before we begin, just a few reminders. Interpretation services are available both here and online, so feel free to choose a language you prefer, either English or Spanish. At the end of the presentation, we will open up the Q&A. Questions can be made in either language. I will now hand the floor over to Antonio Huertas. Thank you, Felipe. Hello everyone and thank you for your time today, both of you here in person or those connected online. Firstly, I must express the Board of Directors' satisfaction with the results we have just presented. As you have seen, 2025 was an excellent year for MAFRE. It was a year in which we exceeded our main business targets with significant improvements in our main technical ratios, as well as achieving significant strategic advances. In terms of net attributable profits, we had another record year with 1.08 billion euros, representing an increase of almost 20%. we must remember that gross profit exceeded 2.4 billion euros also representing spectacular improvement of 20 percent premiums also reached an all-time high exceeding 29 billion euros also up 20 percent and we cannot forget to mention that total income including financial income exceeded 34 billion euros for the first time. We have once ...