Aug 05, 2024 / 04:00PM GMT
Ajay Handa - Coface - Group Head - Data Management
Thank you very much and good evening, everyone. Welcome to this mid-year announcements for Coloplast. I realize that we're beginning August and everybody's kind of nearing the end of the season. So thank you for. We really appreciate your time being with us. As you will have seen, I'll start directly with the highlights on Page 4. We reported net income in the first half of 2024 of 142.3 million, with very strong solvency at 195%. That means 10% profit growth from last year for Coface, you see the main points underneath volume, pretty much a continuation of, I would say, the story that we've been laying out for the last few few quarters actually a few years. Turnover is at 923 million, which is down 3.1%, all else equal versus last year. Notably trade credit insurance premiums are down 5.3% at constant FX, pretty much the same trends going on, as I said, client activity, which remains actually slightly negative for the first half. Client retention continues to be high. It's down, though from the record that we had in 2023. Pricing is better than last year,
Half Year 2024 Coface SA Earnings Call Transcript
Aug 05, 2024
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