Societe Generale SA (SCGLF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Societe Generale second quarter and half-year 2025 conference call. I now hand over to Mr. Slavomir Kupa, Chief Executive Officer. Sir, please go ahead. Thank you. Good morning, everyone, and thank you for joining us today for our H-1 results. I am delighted to present to you another strong set of results as well as an important new milestone in the execution of our strategic plan. Last quarter, we demonstrated that our continued improvement is sustainable, and we continue to perform ahead of our end-of-year targets. Through consistent organic capital generation, we have further strengthened our capital ratio. Our overall performance gives us the confidence to take two major steps forward in our commitments. We are upgrading our annual targets and we now expect a roti around 9% for 2025. And we are further improving shareholder return with today's announcement of our first ever exceptional distribution of a portion of our excess capital through an additional share buyback of 1 billion euro. This is an important first step. Additionally, we are introducing an interim dividend of 61 cents per share against the results of the first half of 2025. The unwavering dedication of our teams makes all this possible. We continue to execute our strategic roadmap with discipline and determination. And as a result, we are moving into the second phase of our three-year plan with equal confidence based on this year's first half results. Revenues increased by 8.6% versus H1-24, excluding asset disposals at a growth pace well above our initial target for 2025. Costs continue to decrease at a higher pace than initially planned. They are down 2.6% since the beginning of the year compared with last year, excluding asset disposals. This positive differe...