Full Year 2021 Coface SA Earnings Call Transcript
Good day, and thank you for standing by. Welcome to the 2021 Results Announcement Coface Conference Call. (Operator Instructions) I would now like to hand the conference over to your speaker today, Xavier Durand. Please go ahead.
Thank you, and good evening, everyone. Thank you for joining this call. We're happy to report our full year 2021 results. I think you're aware, this has been quite an exceptional year for Coface. Nothing really happened in this plan, but it's still a year where we managed to reach all of our key objectives.
We're reporting today a total net profit of EUR 223.8 million net income, of which EUR 32.9 million in the fourth quarter of 2021. The piece I think I'm pleased with is the turnover growth, which reached EUR 1.568 million (sic) [EUR 1,568 billion] year-to-date, which is up 8.3%; everything else similar for the year.
And if you look at the underneath stories, Trade Credit Insurance is growing close to 10% at 9.7%. The pricing is still slightly positive, but as I have
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