Societe Generale SA (SCGLF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.896 Ladies and gentlemen, welcome to the Societe Generale conference call. 00:00:03.896 -- 00:00:06.557 Gentlemen, please go ahead. 00:00:07.400 -- 00:00:11.225 Good morning, everyone, and thank you for joining us today. 00:00:11.225 -- 00:00:15.770 I'm very proud to report strong performance numbers for 2025. 00:00:15.770 -- 00:00:21.437 As a result, we are upgrading our 2026 target for profitability 00:00:21.437 -- 00:00:27.142 and confirming all other CMD targets as well. 00:00:27.224 -- 00:00:32.365 2025 was a defining year. We set new records for revenues 00:00:32.365 -- 00:00:37.531 with €27.3 billion and for group net income which reached the 00:00:37.531 -- 00:00:40.272 €6 billion mark. 00:00:40.555 -- 00:00:46.022 The successful transformation sets the stage for us to sustain long-term 00:00:46.022 -- 00:00:48.425 profitable growth. 00:00:48.425 -- 00:00:54.132 Significant improvement in our financial results in 2025 cuts across all metrics, 00:00:54.132 -- 00:00:58.976 outperforming the targets we upgraded in Q2 2025. 00:00:59.144 -- 00:01:03.349 Our revenues were up by almost 7%, excluding asset disposal. 00:01:03.349 -- 00:01:05.912 That's more than double our target of more than 3%. 00:01:05.912 -- 00:01:07.654 Even 00:01:07.654 -- 00:01:13.418 more remarkable is that all our businesses contributed to this strong performance. 00:01:13.621 -- 00:01:18.947 As you know, our commitment to reduce our cost base, both structurally 00:01:18.947 -- 00:01:23.149 and significantly, is absolute. 00:01:23.562 -- 00:01:29.229 The proof point here is the 2% decrease in costs excluding asset disposal over 00:01:29.229 -- 00:01:32.132 the past year. That 2% 00:01:32.132 -- 00:01:38.738 is far better than what we targeted, which was a decre...