Grupo Catalana Occidente (GCO) Q2 2025 earnings summary

Executive summary

• Total turnover for 6M2025 reached €3,422.3M, up 4.4% year-over-year, with growth across all main segments and 55.7% from Occident, 40.2% from Atradius.

• Consolidated profit increased 9.1% to €414.8M compared to 6M2024.

• Ordinary results: Occident +11.0%, Atradius +7.5%, Mémora +12.7% year-over-year.

• A voluntary public tender offer for 100% of shares was announced, potentially leading to delisting.

• Shareholder remuneration for 2024 totaled €145.8M.

Financial highlights

• Insurance turnover grew 4.4% year-over-year to €3,279.9M.

• Attributable profit reached €376.1M, up 9.1% year-over-year.

• Combined ratio improved: Occident 89.3% (-0.7 p.p.), Atradius 74.1% (-0.6 p.p.).

• Total investments managed reached €17,494.8M, up 3.7% from end-2024.

• Dividend per share increased 20.8% year-over-year to €0.30.

Outlook and guidance

• Strategy for 2025 focuses on leadership, integration, digital transformation, and sustainability.

• Macroeconomic environment remains resilient, with global GDP growth expected at 3.0% in 2025.

• Inflation expected to moderate but remain near 4% globally, with further interest rate reductions anticipated.

• No significant impact expected from geopolitical tensions; solvency remains above risk appetite even in adverse scenarios.

• Continued commitment to shareholder remuneration and sustainable value creation.