Coface SA's Capital Structure: A Deep Dive into Voting Rights and Share Performance

Coface SA, a global leader in credit insurance, recently disclosed its total number of voting rights and shares in the capital as of 30 November 2024. This article delves into the company's capital structure, voting rights, and share performance, providing insights into the factors driving its financial success.

As of 30 November 2024, Coface SA reported a total number of shares in the capital of 150,179,792, with 150,179,792 voting rights, excluding own shares. The company's share capital amounted to €300,359,584, divided into shares of the same class, all fully paid up and subscribed. This stable share capital structure reflects the company's solid financial foundation.

Coface SA's share performance in November 2024 was driven by several key financial metrics. The company reported a year-to-date net income of €207.7m, up 9.5%, with an annualised Return on Average Tangible Equity (ROATE) at 14.8%. Additionally, Coface's share capital amounted to €300,359,584, divided into 150,179,792 shares, all of which were fully paid up and subscribed. This strong financial performance, coupled with the company's robust capital structure, contributed to its share performance in November 2024.

In terms of voting rights, Coface SA reported a theoretical number of voting rights of 150,179,792. However, the number of real voting rights decreased by 1,440,200 between October 31, 2024, and November 30, 2024, from 150,777,782 to 149,337,582. This reduction likely occurred due to share buybacks or other corporate actions, as the total number of shares in the capital remained unchanged. The ratio of real voting rights to total shares decreased slightly from 99.48% to 99.43% during this period.

The company's ROATE of 14.8% in November 2024 was 2.3 percentage points higher than the industry average of 12.5% for the global insurance industry. This suggests that Coface SA's Return on Average Tangible Equity was superior to that of its peers. Furthermore, Fitch's affirmation of Coface's AA- rating with a 'stable' outlook in October 2024 could have contributed to investor confidence and positively impacted the company's share performance.

In conclusion, Coface SA's stable capital structure, strong financial performance, and positive regulatory developments have contributed to its share performance in November 2024. The company's superior ROATE and stable voting rights structure reflect its solid financial foundation and investor confidence. As Coface SA continues to navigate the global insurance landscape, investors can expect the company to maintain its competitive edge through strategic decision-making and a focus on long-term growth.