Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q3 2004 Earnings Presentation
17 slides from Credito Emiliano's earnings presentation, 2004
Slide 1: CREDEM Group quarterly results, September '04
CREDEM CREDEM Group September ’04 quarterly Investor Relations – 3Q04 results 1
Slide 2: Results
CREDEM Results Appendices Investor Relations – 3Q04 results 2
Slide 3: Revenue and profit
Revenue and profit CREDEM Key figures growth Total income Operating costs 407.0 +4.1% 610.4 +4.3% 391.0 585.0 800 500 +7.5% +4.1% 400 154.7 166.3 600 354.1 368.6 300 400 +1.9% +4.7% 200 236.3 240.7 200 230.9 241.8 100 0 0 09/03 09/04 09/03 09/04 Net interest income Non-interest income Payroll Admini
Slide 4: Key figures
CREDEM Key figures AUM on the rise Total direct loans Funding from customers + 2.1% +4.9% 11.8 50.9 11.6 50.6 excluding repos 15 0.7 0.8 +9.3% 60 +6.7% 10 21,1 22,5 +3.3% 40 +7.5% 10.9 11.0 net of repos 14,5 15,6 5 20 11,6 11,4 -1.8% 3,4 1,4 -59.3% 0 0 09/03 09/04 09/03 09/04 C ash Endorsement Repos
Slide 5: Key indicators
CREDEM Key indicators 2003 09/03 09/04 Mkt share fundings 1,60% 1,64% (*) 1.53% growth Mkt share loans 1,00% 1,00% (*) 0.98% (*) fig ures as o f J une 2 0 0 4 ROE 11,1% 10,3% 11,1% profitability Net interest income/Total income Non-interest income /Total income 38,9% 61,1% 39,5% 60,5% 39,6% 60,4% Op
Slide 6: Revenues growing
Revenues growing CREDEM Total income Commissions and fees up sharply pro-forma figures (€/mn) 2003 09/03 09/04 % yoy Net interest income 307,3 230,9 241,8 4,7% Total income +4.3%. Commercial spread 2,79% 2,84% 2,70% -14bp Net fees and commissions incom 342,8 239,3 274,1 14,5% Net interest income +4.
Slide 7: Profitability improving
Profitability improving CREDEM From total income to net profit Costs under control pro-forma figures (€/mn) 2003 09/03 09/04 % yoy Net income 790,7 585,0 610,4 4,3% Payroll -313,5 -236,3 -240,7 1,9% Administrative expenses -208,2 -154,7 -166,3 7,5% Operating costs -521,7 -391,0 -407,0 4,1% Gross ope
Slide 8: Absolute focus on core business
Absolute focus on CREDEM Profit generation core business EBITDA breakdown % contribution (€/mn) 09/03 09/04 at 9/04 Total income 585.0 610.4 . Captive 510.1 549.1 90.0% . Non-captive 74.9 61.3 10.0% Operating costs -391.0 -407.0 . Captive -333.1 -357.7 87.9% . Non-captive -57.9 -49.3 12.1% EBITDA 19
Slide 9: Distribution and HR
CREDEM Distribution and HR no. of CREDEM Group branches and market share Distribution structure 2003 09/03 09/04 1 Credembanca and others 440 434 438 64 0.1 % B.ca Euromobiliare 22 23 22 1.1 % 25 12 0.7 % Bank branches 462 457 460 0.5% 126 4 4.0 % Business centres 38 38 39 0.5 % 10 4 Points and fina
Slide 10: Good show by AUM
Good show by CREDEM Fundings AUM (€/mn) Breakdown of customer funding 2003 09/03 09/04 % yoy Deposits 6.991 7.091 7.345 3,6% Bonds 4.601 4.514 4.046 -10,4% Tot. direct excluding repos 11.592 11.605 11.391 -1,8% Repos 2.862 3.387 1.379 -59,3% Net inflows as of September ‘04 were over €1 Direct custom
Slide 11: Loans
CREDEM Loans PRIVATE-SMALL BUSINESS-SME ....our key segments Cash loans by type Customer loans up by >3% (>7% in terms of average liquid (net of repos) capital). 11.0 +3.3% •Far more impressive is the average-capital comparison for the 10.7 types of customer representing our core business: •retail +
Slide 12: Excellent loan quality
Excellent loan CREDEM Loans quality CREDEM - Gross customer loans (€/mn) Breakdown by business unit 2003 09/03 09/04 % yoy Growth still rapid for CREDEM's strategic short-term 3.678 3.610 2.718 -24,7% customer groups: Private, Small long-term 435 397 446 12,3% non-performing 59 5 64 n.s. Business an
Slide 13: Market risks under control
CREDEM Other risks Market risks under control Market risk (€/mn) 2002 2003 09/04 V.A.R. banking and trading book (99% . 10 days) Credembanca Market risk management mostly pertains to . Average 1.2 2.8 1.9 Credembanca and Abaxbank. . Maximum 3.0 4.8 3.7 Abaxbank Overall risks are modest and fairly st
Slide 14: Appendices
CREDEM Results Appendices Investor Relations – 3Q04 results 14
Slide 15: Capital structure
CREDEM Capital structure Agreement between 226 More than shareholders 2,900 Main investors %sul c.s. investors Maramotti family 35.5% Pictet Cie 4.9% Savioli heirs 2.9% Finc orrad 2.1% Allianz Subalpina 1.7% 72.4% 27.6% CREDEMHOLDING 73.7% 26.3% CREDEM Investor Relations – 3Q04 results 15
Slide 16: Group structure
CREDEM Group structure CREDEMHOLDING 73,7% CREDEM 100% Banca Euromobiliare 100% Credemleasing Euromobiliare 100% Credemtel 100% Fiduciaria 98,5% Euromobiliare A.M. 100% Credemfactor Banca del Garda 51,2% Credimmobili 100% S.G.R. 59,5% Euromobiliare SIM 50% Azuritalia Ass.ni Credem International 100%
Slide 17: Business areas
CREDEM Business areas Commercial Banking Wealth Management Investment Banking Other activities CREDEM Life insurance (*) FIDUCIARIA Spa Insurance (*) (*) (*) (*) companies outside the banking group Investor Relations – 3Q04 results 17
Credito Emiliano S.p.A. (CREDEM) — Q3 2004 Earnings Presentation on 6ix