Feb 28, 2024 / 10:00AM GMT
Xavier Durand - COFACE SA - CEO
Good morning, everyone. Thank you for joining this call. We are very happy to report our total year results for 2023. Apologies for changing the usual timing of the call, a personal situation on my side here. So I appreciate the flexibility, but nevertheless, you will have had more time to digest a little bit of our publication.
So I'm just going to as usual, take you through the first half of the presentation in terms of page 4, you saw -- you've seen that we reported EUR240 million of net profit pretty much in line with last year, which means EUR50.8 million in the fourth quarter of '23. Some of the same trends you've seen that play through the third quarter continue. Turnover is up 6% at constant FX and perimeter, with the trade insurance premiums growing 5.5%.
We've seen a slowdown in the second half, as we already highlighted, the two three are pretty much driven by the economy around the world. A very good year in terms of retention at 93%, I think it's clearly our record. Pricing has been down 1.9%, but it's pretty much in line -- closer to
Full Year 2023 Coface SA Earnings Call Transcript
Mar 25, 2024
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