BBSEY - BB Seguridade Participacoes S.A. (BBSEY) Q4 2024 Earnings Call Transcript
2025-02-18 16:11:07 ET
BB Seguridade Participacoes S.A. (BBSEY)
Q4 2024 Earnings Conference Call
February 18, 2025, 9:00 AM ET
Company Participants
Felipe Peres - Head of Investor Relations
Andre Haui - Chief Executive Officer
Rafael Sperendio - Chief Financial Officer
Conference Call Participants
Jitendra Singh - HSBC
Tiago Binsfeld - Goldman Sachs
Kaio Prato - UBS
Antonio Ruette - Bank of America
Daniel Vaz - Safra
Guilherme Grespan - JP Morgan
Arnon Shirazi - Citi
Eduardo Nishio - Genial Investimentos
Pedro Leduc - Itau BBA
Presentation
Operator
Felipe Peres
Hello, good morning. Welcome to our virtual conference call to present the results of the Fourth Quarter of 2024. This conference call is being recorded and you are now listening to the simultaneous interpretation into English. To listen to the audio in English, press the interpretation button at the lower right-hand side in your screen.
This conference call is going to have two parts. In the first part, our CEO, Andre Haui, and our CFO, Rafael Sperendio, will share with you the results of 2024. Then we are going to have a questions-and-answers session when analysts and investors will be able to ask questions. Our slide deck is available at our Investor Relations website at www.bbseguridadri.com.br.
Now I'm going to give the floor to Andre who's going to start the presentation and I will come after their presentations to moderate the Q&A. Andre, please, the floor is yours.
Andre Haui
Thank you, Felipe. Thank you, dear friends. First of all, I would like to thank everyone who joined us in our virtual conference call.
It's a great enthusiasm and satisfaction for me to announce that our net income grew 9.5% in 2024, reaching the record of R$8.7 billion. Managerial profit, according to Susep, is R$8.2 billion, an increase of 5.7% compared to 2023, a very solid result supported by the 11.9% growth in non-interest operating income net of taxes, which more than offset the drop in investment income. We continue with a very robust payout policy for our shareholders.
In 2024, R$7.1 billion were allocated to the payment of dividends, in addition to R$1.2 billion used to share buybacks. In other words, between dividends and buybacks, more than R$8.3 billion were allocated to our shareholders in a payout of more than 95%....
BB Seguridade Participacoes S.A. (BBSEY) Q4 2024 Earnings Call Transcript