Société Générale Société anonyme (OTCPK:SCGLY) Q1 2025 Earnings Call Transcript April 30, 2025 4:30 AM ET
Company Participants
Slawomir Krupa – Chief Executive Officer
Leo Alvear – Chief Financial Officer of the Group
Conference Call Participants
Flora Bocahut – Barclays
Tarik El Mejjad – Bank of America
Delphine Lee – JPMorgan
Matthew Clark – Mediobanca
Giulia Aurora Miotto – Morgan Stanley
Pierre Chedeville – CIC
Kiri Vijayarajah – HSBC
Anke Reingen – RBC
Jacques-Henri Gaulard – Kepler Cheuvreux
Sharath Kumar – Deutsche Bank
Joseph Dickerson – Jefferies
Operator
Ladies and gentlemen, welcome to the Société Générale First Quarter 2025 Results Conference Call.
I now hand over to Mr. Slawomir Krupa, Chief Executive Officer. Please go ahead sir.
Slawomir Krupa
Thank you. Good morning everyone and thank you for joining us today. I am very pleased to be here with you to present together with Leo our first quarter results. I am happy with our performance this quarter and I am proud of the work and commitment from all of the SG teams. We still have a lot of work ahead of us, but our renewed ability to execute consistently and with discipline makes me confident that we will continue to build on our strong momentum. The environment is uncertain for sure, and our progress will not always advance in a straight line, but it will be consistent and predictable. We have taken what were once merely our aspirations and transformed them into a tangible execution track record. Since the CMD, the results we deliver continue to get better. Our strategy is paying off.
Revenues are up by 10% excluding asset disposals. This is above our full year target of more than 3% growth. We committed to at least a 1% cost reduction excluding disposals. The reality is we did better than that, reducing costs by more
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