Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB
Mediobanca - Banca Di Credito Finanziario — Mediobanca - Banca di Credito Finanziario — Q2 2025 Earnings Presentation
60 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Feb 11, 2025
Slide 1: Mediobanca 6M/2Q Results as at 31 December 2024
MEDIOBANCA 6M/2Q RESULTS AS AT 31 DECEMBER 2024 Milan, 11 February 2025
Slide 2: Agenda
Agenda Section 1. Executive summary Section 2. 6M/1H25 Group results Section 3. 6M/1H25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 3: Best ever 1st half: €660m net profit, ROTE 14%
BEST EVER 1st HALF: €660M NET PROFIT, ROTE 14% THANKS TO POWERFUL «ONE BRAND–ONE CULTURE» PLAN DELIVERY Executive summary Section 1 Strong commercial activity & positioning in all businesses WM CIB CF €4.8bn NNM (6M) IB Rank: 1st in Italy2 €4.3bn new loans (6M) Rank: top 5 in Italy,1 1st in PIB Lead
Slide 4: With a material acceleration in 2Q
WITH A MATERIAL ACCELERATION IN 2Q ON A STRONGER UNDERLYING PATH Executive summary Section 1 Group Revenues: ~€1bn up 14% QoQ, activity speeding up WM CIB CF INS €252m €268m €319m €128m IIQ25 up 10% QoQ IIQ25 up 46% QoQ IIQ25 up 3% QoQ IIQ25 up 11% QoQ NII back to growth Highest-ever quarterly resul
Slide 5: WM – solid growth
WM – SOLID GROWTH DRIVEN BY EFFECTIVE PIB MODEL AND MB PREMIER REPOSITIONING Executive summary Section 1 Solid NNM Best-in-class growth capability1 confirming FY25 guidance (€9-10bn) 11% TFA 10% TFA 8% TFA €4.8bn €3.7bn up 30% YoY €5.5bn €4.8bn €5.1bn 7% TFA €4.8bn 6% TFA €3.0bn 5% TFA 2/3 AUM, 1/3
Slide 6: CIB: positive momentum
CIB: POSITIVE MOMENTUM DRIVEN BY EFFECTIVE FRANCHISE, ENHANCED FOOTPRINT AND SURGING MARKET Executive summary Section 1 Highest-ever quarterly revenues Strong fee acceleration €268m €183m up 46% QoQ €150m €84m up 79% QoQ driven by fees driven by Advisory (up to 83% IIQ25 IQ25 IIQ25 IQ25 of CIB fees
Slide 7: Consumer finance: sound new business with better margins
CONSUMER FINANCE: SOUND NEW BUSINESS WITH BETTER MARGINS Executive summary Section 1 Vibrant new loans business Above sector market growth1 €2.2bn €2.1bn up 6% QoQ +8.3% +7.5% Consumer finance market new driven by personal loans (up Compass new loans growth IIQ25 IQ25 loans growth (12M 2024) 2% QoQ)
Slide 8: Mediobanca to unlock One Brand One Culture potential
MEDIOBANCA TO UNLOCK “ONE BRAND ONE CULTURE” POTENTIAL Executive summary Section 1 High & sustainable growth Superior High distribution driven by stronger capital creation with low execution risk industrial footprint FY25 GUIDANCE1 CONFIRMED FY26 GUIDANCE1 UPGRADED NII resilient Revenues: from €3.8
Slide 9: Agenda
Agenda Section 1. Executive summary Section 2. 6M/1H25 Group results Section 3. 6M/1H25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 10: 1H25 KPIs: revenues >€1.8bn, net profit €660m
1H25 KPIs: REVENUES >€1.8BN, NET PROFIT €660M 1H/2Q25 - Group results Section 2 Financial results Highlights MEDIOBANCA GROUP – 6M as at Dec24 6M EPS: €0.79 (up 10% YoY, flat HoH) No. shares/ TBVPS: €11.7 (up 5% YoY and 1% HoH); BVPS: €12.9 (up 4% YoY 6M EPS BVPS TBVPS o/w treasury and 1% HoH) PER S
Slide 11: Revenues up 7% YoY – acceleration in 2Q
REVENUES UP 7% YoY – ACCELERATION IN 2Q 1H/2Q25 - Group results Section 2 6M Group revenues by division (YoY, €m) WM revenues (3M, €m) +7% YoY + 10% 20 240 228 252 45 (79) 109 1,848 1,731 22 +9% +8% 2Q24 1Q25 2Q25 +5% +32% CIB revenues (3M, €m) +46% 268 201 183 K-light +18% YoY 903 769 2Q24 1Q25 2Q2
Slide 12: Highest-ever quarter in fees
HIGHEST-EVER QUARTER IN FEES DRIVEN BY SOLID WM PROGRESSION AND MORE DIVERSIFIED CIB PLATFORM 1H/2Q25 - Group results Section 2 Fee income trend by division (€m, 3M) CIB fees (€m, 3M) 150 +30% YoY +6% HoH 9 16 86 84 1 547 Specialty fin 8 8 517 15 15 Lending +36% 7 8 124 422 316 CapMkt 1 279 QoQ 56 5
Slide 13: NII back to growth in 2Q
NII BACK TO GROWTH IN 2Q CF CONFIRMED NII GROWTH DRIVER 1H/2Q25 - Group results Section 1 NII trend by division (€m, 3M) Loan book by division (€bn) +4% YoY 997 988 +3% QoQ 979 51.8 52.0 53.9 496 501 496 492 +2% 494 485 14.7 15.3 +1% 15.6 60 58 43 48 36 29 78 80 74 72 81 75 107 105 102 102 16.9 16.9
Slide 14: Comfortable funding position
COMFORTABLE FUNDING POSITION €4.3BN RAISED IN LAST 6M AT ~60BPS 1H/2Q25 - Group results Section 1 Funding stock up to €64bn with stable deposits… …with cost slightly improving in 2Q (€bn) 63.7 62.1 64.2 6.8 6.5 7.3 1.3 Mar24 June24 Sept24 Dec24 27.6 27.4 28.7 WM deposits cost2 1.76% 1.84% 1.93% 1.81
Slide 15: Group CoR at 50bps
GROUP COR AT 50BPS 1H/2Q25 - Group results Section 2 Group CoR trend (bps) 120 Total overlays trend (€m) 100 1H24 2H24 1H25 222 215 201 19 21 80 51bps 46bps 50bps 27 28 20 27 60 40 57 51 175 167 154 46 48 50 20 43 0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 June24 Sept24 Dec24 CF CIB Other CF CoR trend (bps) CF
Slide 16: Prudent staging
PRUDENT STAGING GROSS NPL RATIO AT 2.5% AND HIGH COVERAGE RATIOS 1H/2Q25 - Group results Section 2 Gross NPL ratio confirmed low at 2.5% (0.8% net), with strong coverage (69%) confirmed 0.1 Gross NPL ratio 0.1 Net NPL ratio 0.9 NPL coverage ratio 0.9 0.0 0.0 0.8 0.0 2.5% 2.6% 2.5% 0.0 0.8 69.1% 69.1
Slide 17: Asset quality by divisions
ASSET QUALITY BY DIVISIONS 1H/2Q25 - Group results Section 2 Net NPLs (€m) of which bad loans (€m) NPL coverage NPLs as % of loans (“deteriorate”) (“sofferenze”) Gross 69% 69% 69% 2.5% 2.6% 2.5% -2% Mediobanca +17% 0.8% 0.8% 0.8% 414 429 422 Group 30 31 37 Net June24 Sept24 Dec24 June24 Sept24 Dec24
Slide 18: Efficient RWA/capital management – improved RoRWA at 2.8%
EFFICIENT RWA/CAPITAL MANAGEMENT – IMPROVED RORWA AT 2.8% OPTIMIZATION ONGOING, SOME REBOUND IN GROWTH IN 2Q IN CIB 1H/2Q25 - Group results Section 2 RWAs trend by division (€bn, incidence %) Divisional RoRWA (%) -3% YoY 3.8% 100% 100% 3.6% 49.1 47.4 47.6 3.4% 3.2% 4.3 9% 3.9 8% 4.6 2.8% 8.4 17% 2.7
Slide 19: Strong capital position
STRONG CAPITAL POSITION 1H/2Q25 - Group results Section 2 CET1¹ ratio 1H25 trend Capital generation: 100bps in 6M 100% pay-out in line with full (40bps) completion of €1bn +140bps (100bps) cumulative SBB in 3Y 15.2% 15.2% 14.8% CET1 June24 Earnings Other (incl. AG) 70% Dividend Pay-out CET1 Dec24 CE
Slide 20: 1H25 results summary
1H25 RESULTS SUMMARY 1H/2Q25 - Group results Section 1 Financial €m results 1H25 D D 2Q25 1Q25 2Q24 Highlights Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 Total income 1,848 -2% +7% 983 865 867 1H25 revenues up 7% YoY to €1,848m: Net interest income 979 -1% -2% 494 485 501 NII down 2% YoY, backed by positive
Slide 21: Sustainable banking
SUSTAINABLE BANKING FURTHER UPGRADE OF OUR ESG PROFILE 1H/2Q25 - Group results Section 1 MSCI has revised its ESG rating for Mediobanca to the maximum level of “AAA”, from its previous rating of “AA” ENVIRONMENT SOCIAL Decarbonization: the Mediobanca Group has offset its Employee Training: human rig
Slide 22: Agenda
Agenda Section 1. Executive summary Section 2. 6M/1H25 Group results Section 3. 6M/1H25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 23: Group RoRWA to 2.8% driven by K-light businesses
GROUP RORWA TO 2.8% DRIVEN BY K-LIGHT BUSINESSES 1H/2Q25 - Divisional results Section 3 Revenues (€m, 6M) GOP risk adj. (€m, 6M) Net profit (€m, 6M) RoRWA & ROTE (%) 5.0% 17.0% +7% YoY ROTE +8% YoY 4.5% 15.0% +8% YoY 4.0% 3.5% 13.4% 14.0% 13.0% Mediobanca 11.0% 3.0% 1,876 1,848 950 934 9.0% 1,731 86
Slide 24: WM: One Brand–One Culture strategic path in 1H25
WM: “ONE BRAND–ONE CULTURE” STRATEGIC PATH IN 1H25 1H/2Q25 Divisional results - WM Section 3 MBWM: “ONE FRANCHISE” approach leveraging the Mediobanca brand WM BP23-26 strategic path: ➢ €0.8bn liquidity events gathered by MBPB in 1H25 (€0.6bn in 1Q25 and €0.2bn in 2Q25), €0.7bn in synergy with CIB ➢
Slide 25: TFAs up >€7bn in 6M to €107bn
TFAs UP >€7BN IN 6M TO €107BN €4.8BN INFLOWS, WITH ONGOING REBALANCING MIX TOWARDS AUM 1H/2Q25 Divisional results - WM Section 3 Group TFAs trend (€bn) MBWM: net inflows by quarter (€bn) 106.8 4.8 99.4 2.6 4.6 4.8 3.7 3.3 30.4 28.2 1.3 2.6 2.5 1.2 2.3 NNM breakdown 1.2 0.2 1.7 1.1 AUM/AUA +4.5 0.6 -
Slide 26: Sound franchise performance
SOUND FRANCHISE PERFORMANCE WITH ACTIVITY SKEWED INCREASINGLY TOWARDS HIGHER-VALUE PRODUCTS 1H/2Q25 Divisional results - WM Section 3 WM fees by source (€m) & ROA (bps) Franchise TFAs (€bn, end period) Franchise NNM (€bn) Mngt 99bps 99bps +13% ROA1 100.0 460.0 92.0 +12% 86.7 3.4 81.3 3.4 80.0 360.0
Slide 27: Successful deployment of Private & Investment Banking model
SUCCESSFUL DEPLOYMENT OF PRIVATE & INVESTMENT BANKING MODEL 1H/2Q25 Divisional results - WM Section 3 Focus on UHNWI and entrepreneurial families by leveraging successful dual coverage, with Private Banking fully integrated Corporate Investment Banking services, distinctive Private Markets platform
Slide 28: 1 year of MB Premier: strong start with huge potential ahead
1 YEAR OF : STRONG START WITH HUGE POTENTIAL AHEAD 1H/2Q25 Divisional results - WM Section 3 Increased capability to attract bankers/FAs… with portfolios almost doubled 132 professional recruited in 1Y (#professionals recruited in 1Y, network at end-Dec) (Avg. ptf from new bankers/FAs, €m) 1,181 1,2
Slide 29: WM: 1H25 results snapshot
WM: 1H25 RESULTS SNAPSHOT REVENUES €480m (up 5%) – NET PROFIT ~€110m (up 10%) 1H/2Q25 Divisional results - WM Section 3 Financial results Highlights 1H25 D D 2Q25 1Q25 2Q24 Strong commercial results in 1H25, in line with FY25 guidance €m Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 trajectory, reflected in on
Slide 30: CIB: One Brand – One Culture strategic path in 1H25
CIB: “ONE BRAND – ONE CULTURE” STRATEGIC PATH IN 1H25 1H/2Q25 Divisional results - CIB Section 3 MBCIB - More international and diversified investment bank: advisory led and client-centred, with selective balance sheet use; strong integration in Italy between CIB and WM with Private Investment Bank
Slide 31: M&A market recovering and strong DCM momentum
M&A MARKET RECOVERING AND STRONG DCM MOMENTUM WHILE ECM ACTIVITY REMAINS MODEST… 1H/2Q25 Divisional results - CIB Section 3 2024 shows an increase in volumes of 17% YoY across all investment banking products in Europe DCM volumes increased by 21% YoY1, with gains in both IG and HY issuances, due to
Slide 32: Leadership confirmed in investment banking in Italy
…LEADERSHIP CONFIRMED IN INVESTMENT BANKING IN ITALY… 1H/2Q25 Divisional results - CIB Section 3 M&A Italy 2024 by Deal Value ($bn)1 M&A Italy 2024 by # of Deals1 DCM Italy 2024 by # of Deals2 $bn – Bookrunner 1 ISP 63 6.7 1 JPM 31.6 1 45 2 UCG 56 6.1 2 GS 29.5 2 VITALE 34 3 42 4.0 3 25.2 3 EQUI 33
Slide 33: With strong performance in M&A
…WITH STRONG PERFORMANCE IN M&A… 1H/2Q25 Divisional results - CIB Section 3 Selected M&A Italian Large and Mid-Cap Transactions M&A activity in 2024 has been more positive and constructive than last year, Announced Announced Announced January 2025 driven mainly by both strategic M&A growth and finan
Slide 34: And in debt
…AND IN DEBT 1H/2Q25 Divisional results - CIB Section 3 In a scenario of modest domestic and European ECM activity, Mediobanca acted in the two most important transactions in Italy: as JGC in the €150m capital increase via Selected ECM Transactions rights issue of doValue in December, and as JGC in
Slide 35: Revenues: advisory-driven growth
REVENUES: ADVISORY-DRIVEN GROWTH 1H/2Q25 Divisional results - CIB Section 3 Revenues by product (3M, €m) Highlights +32% YoY 451 Strong 1H25 revenues trend, up 32% YoY to €451m driven by Advisory, with K-light component up to 41% of revenues (vs 420 268 27% in 1H24): 342 Advisory: €178m fees up +2x
Slide 36: CIB: 1H25 results snapshot
CIB: 1H25 RESULTS SNAPSHOT FOCUS ON K-LIGHT REVENUES, IMPROVING PROFITABILITY 1H/2Q25 Divisional results - CIB Section 3 Financial results Highlights 1H25 net profit up 31% YoY to €142m, reflecting: 1H25 D D 2Q25 1Q25 2Q25 €m Revenues up 32% YoY to €451m: Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 Total inc
Slide 37: CF: One Brand–One Culture strategic path in 1H25
CF: “ONE BRAND–ONE CULTURE” STRATEGIC PATH IN 1H25 1H/2Q25 Divisional results - CF Section 3 Sustainable and profitable growth leveraging on direct and digital distribution CF BP23-26 strategic path: Direct distribution ➢ Proprietary distribution network up to 331 branches (up 14 and digital YoY, up
Slide 38: Growth in new business, loan book, yield
GROWTH IN NEW BUSINESS, LOAN BOOK, YIELD 1H/2Q25 Divisional results - CF Section 3 New loans by product (3M, €bn) Loan book net profitability (3M, %) +11% IH25: 7.24% IH24: 7.03% IIH24: 7.11% 8.0% 8.00% 7.17% 7.20% 7.30% 7.00% 7.09% 7.04% IIH24: 4.4 IH25: 4.3 7.0% 7.00% IH24: 3.9 2.2 2.2 +6% 2.2 2.1
Slide 39: Asset quality confirmed as healthy
ASSET QUALITY CONFIRMED AS HEALTHY 1H/2Q25 Divisional results - CF Section 3 CoR down QoQ but broadly increasing as expected …with high coverage of PLs (3.57%) and NPLs (74.3%) LLPs (€m) and cost of risk (bps) Coverage ratios trend IH25: 176 FY24: 168 FY23: 145 90.0% 5.00% 120 174 178 175 200 78.8%
Slide 40: CF: strong commercial activity and record financials
CF: STRONG COMMERCIAL ACTIVITY AND RECORD FINANCIALS ALL-TIME HIGH REVENUES (€629M) AND NET PROFIT (€203M) 1H/2Q25 Divisional results - CF Section 1 Financial results Highlights €m 1H25 Δ Δ 2Q25 1Q25 2Q24 Solid commercial activity in 1H25: Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 Strong new business: €4.3
Slide 41: Insurance: solid contribution
INSURANCE: SOLID CONTRIBUTION 1H/2Q25 Divisional results - INS Section 3 Financial results Highlights 1H25 D D 2Q25 1Q25 2Q24 1H25 net profit at €241m, up 8% YoY reflecting: €m Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 Higher revenues (up 9% YoY), on solid AG contribution Total income 243 -21% +9% 128 115
Slide 42: Holding functions: result lower due to interest rate decrease
HOLDING FUNCTIONS: RESULT LOWER 1H/2Q25 Divisional results - HF DUE TO INTEREST RATE DECREASE Section 3 Financial results Highlights 1H25 D D 2Q25 1Q25 2Q24 Net loss of €30m in 1H25 reflecting: €m Dec24 HoH1 YoY1 Dec24 Sept24 Dec23 Revenues down 58% YoY, due to lower NII/trading income Total income
Slide 43: Agenda
Agenda Section 1. Executive summary Section 2. 6M/1H25 Group results Section 3. 6M/1H25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 44: On track to deliver our vision of Mediobanca
ON TRACK TO DELIVER OUR VISION OF MEDIOBANCA Closing remarks Section 4 Centred on Wealth Management WM:1H25 revenues (€480m, ow €270 fees), contributing to ~30% of banking revenues and ~50% of Group fees Visible net profit (>€110m in 6M), solid NNM (€4.8bn in 6M) growing at a faster pace than peers
Slide 45: Mediobanca to unlock One Brand One Culture potential
MEDIOBANCA TO UNLOCK “ONE BRAND ONE CULTURE” POTENTIAL Closing remarks Section 4 High & sustainable growth Superior High distribution driven by stronger capital creation with low execution risk industrial footprint FY25 GUIDANCE1 CONFIRMED FY26 GUIDANCE1 UPGRADED NII resilient Revenues: from €3.8 to
Slide 46: Mediobanca rejects MPS's takeover bid
MEDIOBANCA REJECTS MPS’S TAKEOVER BID NOT AGREED AND STRONGLY DESTRUCTIVE OF VALUE Closing remarks Section 4 1 No industrial value or strategic rationale for MB or MPS • No scale/distribution advantages for either MB or MPS, no enhancement of any business positioning given different customers/staff
Slide 47: Mediobanca rejects MPS's takeover bid
MEDIOBANCA REJECTS MPS’S TAKEOVER BID NOT AGREED AND STRONGLY DESTRUCTIVE OF VALUE Closing remarks Section 4 4 Dilutes Mediobanca’s financial profile • MB’ positive gearing to macro (NII growing despite lowering interest rates, superior growth in fee) wiped out • Exposes MB’ shareholders to poorer a
Slide 48: Q&A session
MEDIOBANCA 6M/2Q RESULTS AS AT 31 DECEMBER 2024 Q&A SESSION
Slide 49: Agenda
Agenda Section 1. Executive summary Section 2. 6M/1H25 Group results Section 3. 6M/1H25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 50: Macro scenario ahead
MACRO SCENARIO AHEAD STEADY AS SHE GOES, BUT UNCERTAINTY LOOMS LARGE Macro scenario Annex 1 Scenario BP23-26 Jan 25 Scenario 20231 2024 2025 2026 20241 2025 2026 2027 IT GDP (y/y) 0.7% 1.3% 1.2% 1.3% 0.5% 0.7% 0.8% 0.6% EA GDP (y/y) 0.5% 1.8% 2.3% 2.2% 0.8% 1.1% 1.3% 1.5% IT Inflation (y/y) 6.9% 3.5
Slide 51: Mediobanca Group P&L
MEDIOBANCA GROUP P&L 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 1,848 1,876 1,731 7% 983 865 979 898 867 Net interest income 979 988 997 -2% 494 485 492 496 501 Fee income 547 517 422 30% 316 231 279 238 24
Slide 52: Mediobanca Group A&L
MEDIOBANCA GROUP A&L 6M results as at December 2024 Annex 2 D D D €bn Dec24 Sept24 June24 Dec23 QoQ1 HoH1 YoY1 Funding 64.2 62.1 63.7 60.6 +3% +1% +6% Bonds 28.7 27.4 27.6 23.9 +5% +4% +20% Direct deposits (retail&PB) 28.2 28.2 27.9 27.7 - +1% +2% TLTRO 0.0 0.0 1.3 3.4 n.m. -100% -100% Others 7.3 6.
Slide 53: Wealth Management results
WEALTH MANAGEMENT RESULTS 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 480 466 458 +5% 252 228 234 232 240 Net interest income 204 212 213 -4% 102 102 105 107 106 Fee income 270 249 240 +12% 146 124 126 123 1
Slide 54: CIB results
CIB RESULTS 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 451 420 342 +32% 268 183 227 194 201 Net interest income 153 154 153 - 81 72 74 80 78 Net treasury income 65 39 56 +17% 37 28 17 22 37 Fee income 234 2
Slide 55: Consumer Finance results
CONSUMER FINANCE RESULTS 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 629 605 584 +8% 319 310 301 305 298 Net interest income 557 531 513 +9% 282 275 266 266 259 Fee income 72 74 71 +2% 37 35 35 39 38 Total c
Slide 56: Insurance results
INSURANCE RESULTS 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 243 307 223 +9% 128 115 181 126 80 Impairments 9 11 9 (2) 12 0 11 10 Net profit 241 299 223 +8% 119 121 169 130 86 Book value (€bn) 4.9 4.6 4.4 +
Slide 57: Holding Functions results
HOLDING FUNCTIONS RESULTS 6M results as at December 2024 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec24 June24 Dec23 Dec24 Sept24 June24 Mar24 Dec23 Total income 56 89 134 -58% 23 33 44 46 55 Net interest income 48 75 103 -53% 21 28 39 36 51 Net treasury income 6 16 23 -76% 3 2 6 10 2 Fee income 3
Slide 58: Glossary
GLOSSARY MEDIOBANCA BUSINESS SEGMENT PROFIT & LOSS (P&L) and BALANCE SHEET CIB Corporate and investment banking ESG Environmental, Social, Governance WB Wholesale banking FAs Financial Advisors SF Specialty finance FVOCI Fair Value to Other Comprehensive Income CF Consumer finance GOP Gross operatin
Slide 59: Disclaimer & declaration of head of financial reporting
DISCLAIMER & DECLARATION OF HEAD OF FINANCIAL REPORTING Disclaimer This document includes certain projections, estimates, forecasts and consequent targets which reflect the current views of Mediobanca – Banca di Credito Finanziario S.p.A. (the “Company”) with regard to future events (“forward-lookin
Slide 60: Investor contact details
INVESTOR CONTACT DETAILS Mediobanca Group Investor Relations Piazzetta Cuccia 1, 20121 Milan, Italy Email: investor.relations@mediobanca.com +39 02 8829 860/347 http://www.mediobanca.com 60
Mediobanca - Banca di Credito Finanziario — Q2 2025 Earnings Presentation on 6ix