Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB
Mediobanca - Banca Di Credito Finanziario — Mediobanca - Banca di Credito Finanziario — FY2025 Earnings Presentation
64 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Jul 31, 2025
Slide 1: Mediobanca 12M Results as at 30 June 2025
MEDIOBANCA 12M RESULTS AS AT 30 JUNE 2025 Milan, 31 July 2025
Slide 2: Agenda
Agenda Section 1. Executive summary Section 2. FY25/4Q25 Group results Section 3. FY25/4Q25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 3: 12M Results: Full Delivery of Targets Fostered by a Stronger Franchise
12M RESULTS: FULL DELIVERY OF TARGETS FOSTERED BY A STRONGER FRANCHISE REVENUES UP TO €3.7BN, EPS UP 7%, ROTE 14%, 9% TOTAL ANNUAL YIELD Executive summary Section 1 Strong commercial achievements, leveraging specialized business model ✓ WM CIB CF €11bn NNM Avg. loan up by >€1bn >€9bn new loans (12M,
Slide 4: 4Q: Solid Progression, €337m Net Profit
4Q: SOLID PROGRESSION, €337M NET PROFIT Executive summary Section 1 4Q Group revenues: >€950m resilient YoY, on diversified activity across divisions WM CIB CF INS €246m €211m €323m €172m up 5% YoY down 7% YoY up 7% YoY down 5% YoY stable QoQ down 7% QoQ resilient QoQ up >60% QoQ NII resilient Recor
Slide 5: Strong & Capital Efficient Asset Growth
STRONG & CAPITAL EFFICIENT ASSET GROWTH Executive summary Section 1 Growing TFAs TFAs up €13bn YoY ✓ Capital reallocation and optimization RWA density down 4pp to 44% in 2Y ✓ (Group TFAs, €bn, %) (Group RWAs and loans, €bn) Loans 52.5 2YCAGR: 2% 54.3 2YCAGR:13% RWAs 2YCAGR: -5% 112 100% 51.4 99 47.6
Slide 6: Driving Revenue, GOP and RORWA Growth
…DRIVING REVENUE, GOP AND RORWA GROWTH Executive summary Section 1 Growing revenues up to 8% of RWA ✓ Growing GOP Cost/income stable at 43% ✓ Growing RORWA Group up to 2.9% ✓ (Group revenues €bn, revenues/RWA %) (Group GOP risk adj €bn, cost/income %) 3.8% 3.8% CAGR: 6% CAGR: 8% 3.6% 3.6% 3.2% 3,719
Slide 7: Visible Value Creation
VISIBLE VALUE CREATION BEST EVER EPS/DPS/ROTE – 100% PAYOUT – 9% YIELD Executive summary Section 1 ROTE up to 14% EPS up to €1.64 (up 7% YoY, up16% 4YCAGR) ✓ DPS up to €1.15 (up 7% YoY, 4YCAGR: 15%) ✓ TBVPS up to €11.8 ✓ (up 2% YoY, 4YCAGR: 2%) (€) (€) TBVPS (€), ROTE (%) 13% 14% 14% 1.64 15% 1.53 1
Slide 8: Trajectory Set to FY28
TRAJECTORY SET TO FY28 “ONE BRAND – ONE CULTURE” TARGETS Executive summary Section 1 Recurring EPS up to €2.1 in FY28 Revenues up to €4.4bn in FY28 Recurring DPS up to €2.1 in FY28 stated EPS up to €2.4 (€bn) (€) (€) +6%1 4.4 2.4 +6%1 +8%1 stated 3.7 recurring +22%1 3.3 +16%1 2.10 +16%1 2.10 recurri
Slide 9: 12M25 KPIs: Revenues €3.7bn, Net Profit €1.3bn
12M25 KPIs: REVENUES €3.7BN, NET PROFIT €1.3BN Executive summary Section 1 Financial results Highlights MEDIOBANCA GROUP – 12M as at June25 12M EPS: €1.64 (up 7% YoY) No. shares/ TBVPS: €11.8 (up 2% YoY); BVPS: €13.2 (up 3% YoY) EPS BVPS TBVPS o/w treasury SBB: €385m completed on 2 July 25, with 24.
Slide 10: Agenda
Agenda Section 1. Executive summary Section 2. FY25/4Q25 Group results Section 3. FY25/4Q25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 11: Revenues up 3% YoY – Sound 4Q at €951m
REVENUES UP 3% YoY – SOUND 4Q AT €951M FY25/4Q25 - Group results Section 2 12M Group revenues by division (YoY, €m) WM revenues (12M, €m) +3% YoY +5% YoY 133 6 (14) 973 3,719 924 3,607 (13) +3% -3% -1% +14% 12M24 12M25 CIB revenues (12M, €m) +16% YoY K-light +6% YoY 1,816 888 1,709 763 12M24 12M25 R
Slide 12: NII: Resilient Path, Quarterly Growth in CF and CIB
NII: RESILIENT PATH, QUARTERLY GROWTH IN CF AND CIB FY25/4Q25 - Group results Section 2 NII trend by division (€m, 3M) Average loan book by division (€bn, 3M) +5% YoY -1% YoY 1,985 1,971 +1% QoQ 53.3 53.9 55.2 55.7 52.9 496 501 496 492 485 494 497 496 16.9 16.9 17.0 +1% 17.3 60 58 43 48 36 29 22 16
Slide 13: Double-Digit Trend in Fees
DOUBLE-DIGIT TREND IN FEES SOLID UNDERLYING TREND IN WM AND CIB FY25/4Q25 - Group results Section 2 Fee income trend by division (€m, 3M) CIB fees (€m, 3M) 136 +14% YoY 8 107 21 92 1,072 8 8 Specialty Fin. 939 20 7 15 Lending 14 5 316 99 1 CapMkt 279 64 65 273 Advisory 242 253 238 231 150 4Q24 3Q25
Slide 14: Comfortable Funding Position
COMFORTABLE FUNDING POSITION €10.9BN RAISED IN LAST 12M AT ~68BPS FY25/4Q25 - Group results Section 2 Funding stock up to >€70bn with growing deposits… …with cost trend improving in 4Q (€bn) 70.6 63.6 8.6 6.8 June24 Dec24 Mar25 June25 1.3 31.6 WM deposits cost2 1.84% 1.81% 1.70% 1.64% 27.6 Bond stoc
Slide 15: Costs Driven by Business-Enhancing Factors
COSTS DRIVEN BY BUSINESS-ENHANCING FACTORS FY25/4Q25 - Group results Section 2 Group costs trend by type (€m) Costs and cost/income ratio trend by division (€m, %) +4% YoY 1,610 1,610 1,542 43% 1,542 46 12 10 43% 164 179 o/w: 31% Arma €16.2m 395 369 31% 805 Germany €8.2m 856 Headcount Headcount 46%
Slide 16: Group CoR Well Under Control at 44bps
GROUP COR WELL UNDER CONTROL AT 44BPS FY25/4Q25 - Group results Section 2 Group CoR trend (bps) 120 Total overlays trend (€m) 100 12M24 12M25 80 48bps 44bps 60 57 222 201 190 51 40 46 48 50 43 39 35 19 20 27 20 17 27 0 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 27 LLPs trend (€m) 175 154 146 60 73 67 6
Slide 17: Prudent Staging
PRUDENT STAGING GROSS NPL RATIO STABLE AT 2.1%, HIGH COVERAGE RATIOS FY25/4Q25 - Group results Section 2 Gross NPL stable at 2.1% (0.9% net), strong coverage (60.1%). CF: ~€260m fully covered loan write-offs in Q3 and ~€110m past due loans1 reclassified as NPL in Q4 0.1 Gross NPL ratio 0.1 Net NPL r
Slide 18: Asset Quality by Divisions
ASSET QUALITY BY DIVISIONS FY25/4Q25 - Group results Section 2 Net NPLs (€m) of which bad loans (€m) NPL coverage NPLs as % of loans (“deteriorate”) (“sofferenze”) Gross +11% 69% 2.5% 2.0% 2.1% 62% Mediobanca -4% 60% 0.8% 0.9% 414 424 469 0.8% Group 30 37 36 Net June24 Mar25 June25 June24 Mar25 June
Slide 19: Solid Capital Generation, CET1 Ratio @15.1%
SOLID CAPITAL GENERATION, CET1 RATIO @15.1% FY25/4Q25 - Group results Section 2 CET1 trend in FY25 270bps capital generation 45bps (50bps) (90bps) SBB (5bps) 280bps (190bps) Div 15.2% 15.1% June24 Generated RWA INS Other Distribution June25 earnings CET1 ratio @15.1%, with 270bps capital generation
Slide 20: 12M25 Results Summary
12M25 RESULTS SUMMARY FY25/4Q25 - Group results Section 2 Financial results Highlights 12M25 ∆ 4Q25 3Q25 4Q24 €m 12M25 revenues up 3% YoY to €3,719m: Jun25 YoY1 Jun25 Mar25 Jun24 Total income 3,719 +3% 951 920 979 NII stable YoY and flat QoQ, backed by positive CF Net interest income 1,972 -1% 496 4
Slide 21: Sustainable Banking
SUSTAINABLE BANKING FURTHER UPGRADE OF OUR ESG PROFILE FY25/4Q25 - Group results Section 2 Mediobanca has improved its ESG ratings, achieving the highest level (AAA) from MSCI and an upgraded score (C+) from ISS and qualified as Yearbook Member in the S&P Global Sustainability Yearbook 2025 ENVIRONM
Slide 22: Agenda
Agenda Section 1. Executive summary Section 2. FY25/4Q25 Group results Section 3. FY25/4Q25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 23: Group RORWA up to 2.9% Driven by K-Light Businesses
GROUP RORWA UP TO 2.9% DRIVEN BY K-LIGHT BUSINESSES FY25/4Q25 Divisional results Section 3 Revenues GOP risk adj. Net profit Profitability (€m, 12M) (€m, 12M) (€m, 12M) (%) 15.0% +3% +3% 13.9% 14.2% +4% ROTE 10.0% Mediobanca 3,607 3,719 1,876 1,330 5.0% 1,813 1,273 Group 2.7% RORWA 2.9% 0.0% -5.0% J
Slide 24: WM FY25 Performance
WM FY25 PERFORMANCE STRONG UNDERLYING TRENDS DUE TO EFFECTIVE BUSINESS MODEL FY25/4Q25 Divisional results - WM Section 3 Record NNM (TFA), despite almost €1.5bn ouflows in Private Material TFA growth up 32% YoY €11.0bn €8.4bn ~60% in AUM €112bn €99bn up €13bn YoY 12M25 12M24 June25 June24 up €3.9bn
Slide 25: WM: One Brand–One Culture Strategic Path in Last 2Y
WM: “ONE BRAND–ONE CULTURE” STRATEGIC PATH IN LAST 2Y FY25/4Q25 Divisional results - WM Section 3 MBWM: “ONE FRANCHISE” approach leveraging the Mediobanca brand ➢ PIB model: >€2bn liquidity events gathered by MBPB in last Private 2Y, approx. 50% in synergy with CIB, 19 M&A mandates co- originated Ba
Slide 26: TFAs up ~€13bn in 12M to >€112bn
TFAs UP ~€13BN IN 12M TO >€112BN €11BN INFLOWS, WITH ONGOING REBALANCING MIX TOWARDS AUM FY25/4Q25 Divisional results - WM Section 3 Group TFAs trend (€bn) MBWM: net inflows by quarter (€bn) 112.1 11.0 1.7 8.4 +32% YoY 99.4 11.0 31.3 3.3 3.8 28.2 2.5 1.3 2.6 2.3 2.3 0.8 NNM breakdown 1.2 1.2 AUM/AUA
Slide 27: Sound Fee Performance
SOUND FEE PERFORMANCE WITH ALL WEALTH PRODUCTS UP DOUBLE DIGIT FY25/4Q25 Divisional results - WM Section 3 WM fees by source (€m, 3M) TFAs by segment (€bn, end period) NNM by segment (€bn) +13% +13% 112.1 11.0 700.0 555 600.0 489 99.4 15.0 104 8.4 2.2 12.7 500.0 107 70 31.3 0.8 59 118 28.2 3.5 400.0
Slide 28: WM: 12M25 Results Snapshot
WM: 12M25 RESULTS SNAPSHOT REVENUES €973m (up 5%) – NET PROFIT €232m (up 11%) FY25/4Q25 Divisional results - WM Section 3 Financial results Highlights FY25 4Q25 3Q25 4Q24 Strong commercial results in 12M25, in line with FY25 guidance €m Jun25 YoY1 Jun25 Mar25 Jun24 trajectory, reflected in ongoing
Slide 29: CIB: FY25 Performance
CIB: FY25 PERFORMANCE GROWTH DELIVERED ON SOLID PIPELINE AND HIGHER RWA EFFICIENCY FY25/4Q25 Divisional results - CIB Section 3 4Q25 Fees ~ avg. FY24 level, Highest-ever 12M revenues despite mkt volatility €888m €763m up 16% YoY €92m €107m 3Q25 down 14% QoQ 12M25 12M24 driven by fees (up 20%) 4Q25 a
Slide 30: Last 2Y Strategic Achievements
LAST 2Y STRATEGIC ACHIEVEMENTS FY25/4Q25 Divisional results - CIB Section 3 CIB delivery across all businesses, new initiatives and K-light strategy ➢ In Advisory growth driven by international (49% of total transactions) and private capital (84% of total), with 175 transactions announced incl. Arma
Slide 31: Corporate Finance Market Improving and Positive DCM Momentum
CORPORATE FINANCE MKT IMPROVING AND POSITIVE DCM MOMENTUM WHILST ECM ACTIVITY REMAINS WEAK FY25/4Q25 Divisional results - CIB Section 3 2021 remains a record year in investment banking, while 2022 and 2023 saw a significant contraction followed by a rebound in 2024 across all investment banking prod
Slide 32: Strong Performance in M&A…
STRONG PERFORMANCE IN M&A… FY25/4Q25 Divisional results - CIB Section 3 Selected M&A Italian Large and Mid-Cap Transactions M&A activity in FY25 has been more positive and constructive than last year, Announced Announced Announced July 2025 driven mainly by financial sponsors activity growth and lar
Slide 33: …and in Debt
…AND IN DEBT FY25/4Q25 Divisional results - CIB Section 3 In a context of subdued and modest domestic and European ECM activity during H2 Selected ECM Transactions 2024 and in H1 2025, with equity markets further affected by ongoing geopolitical and June 2025 December 2024 July 2024 ECM trade tensio
Slide 34: Revenues: Diversified, Advisory-Driven Growth
REVENUES: DIVERSIFIED, ADVISORY-DRIVEN GROWTH FY25/4Q25 Divisional results - CIB Section 3 Revenues by product (3M, €m) Highlights +16% YoY 888 Strong FY25 revenue trend, up 16% YoY to €888m driven by Advisory, Markets and Prop. Trading performance, with 4Q 268 confirmed above €210m after the peak l
Slide 35: CIB: 12M25 Results Snapshot
CIB: 12M25 RESULTS SNAPSHOT RECORD REVENUES WITH FOCUS ON K-LIGHT, IMPROVING PROFITABILITY FY25/4Q25 Divisional results - CIB Section 3 Financial results Highlights 12M25 ∆ 4Q25 3Q25 4Q24 12M25 net profit up 11% YoY (up 4% net of Arma Partners2) to €m Jun25 YoY1 Jun25 Mar25 Jun24 €270m, reflecting:
Slide 36: CF: Sound New Business with Resilient Margins
CF: SOUND NEW BUSINESS WITH RESILIENT MARGINS RECORD 12M RESULTS FY25/4Q25 Divisional results - CF Section 3 Robust new loan business Solid new personal loans progression €9.1bn €2.4bn up 9% YoY €4.3bn €3.9bn up 10% YoY 12M25 4Q25 down 2% QoQ 12M25 12M24 up 1% QoQ Loan book steady growth Stable CoR
Slide 37: Last 2Y Strategic Achievements
LAST 2Y STRATEGIC ACHIEVEMENTS FY25/4Q25 Divisional results - CF Section 3 Sustainable and profitable growth leveraging direct and digital distribution ➢ Proprietary distribution network up to 335 branches (up 23 in Scaling up direct 2Y) distribution and digital platforms ➢ Personal loans originated
Slide 38: Growth in New Business and Loan Book, Resilient Yield
GROWTH IN NEW BUSINESS AND LOAN BOOK, RESILIENT YIELD FY25/4Q25 Divisional results - CF Section 3 New loans by product (3M, €bn) Loan book net profitability1 (3M, %) +9% 12M25: 7.26% 12M24: 7.04% 8.0% 8.00% 12M25: 9.1 7.30% 7.35% 7.26% 12M24: 8.4 7.09% 7.17% 7.20% 7.00% 7.04% +2% 7.0% 7.00% 2.4 2.4
Slide 39: Asset Quality Confirmed Healthy
ASSET QUALITY CONFIRMED HEALTHY FY25/4Q25 Divisional results - CF Section 3 Proactive NPL management ongoing … net NPL stock reflecting higher NPL quality Stricter default definition adopted in 4Q, NPL write offs in 3Q 1 CF Net NPLs composition (%) CF Net NPLs, stock (€m) and incidence to loans (%)
Slide 40: CF: Strong Commercial Activity and Record Financials
CF: STRONG COMMERCIAL ACTIVITY AND RECORD FINANCIALS ALL-TIME HIGH NII (>€1.1BN) AND NET PROFIT (€408M) FY25/4Q25 Divisional results - CF Section 3 Financial results Highlights 12M25 ∆ 4Q25 3Q25 4Q24 Solid commercial activity in 12M25: €m Jun25 YoY1 Jun25 Mar25 Jun24 Strong new business: €9.1bn (€2.
Slide 41: Insurance: Solid Contribution
INSURANCE: SOLID CONTRIBUTION FY25/4Q25 Divisional results - INS Section 3 Financial results Highlights 12M25 net profit at €516m, down 1% YoY reflecting: 12M25 ∆ 4Q25 3Q25 4Q24 €m Jun25 YoY1 Jun25 Mar25 Jun24 Stable revenues (down 2% YoY), with AG contribution down by 2% due to non-recurring capita
Slide 42: Holding Functions: Result Lower
HOLDING FUNCTIONS: RESULT LOWER DUE TO INTEREST RATE DECREASE FY25/4Q25 Divisional results - HF Section 3 Financial results Highlights Net loss of €85m in 12M25 reflecting: 12M25 ∆ 4Q25 3Q25 4Q24 €m Revenues down 64% YoY, due to lower NII/trading income Jun25 YoY1 Jun25 Mar25 Jun24 reflecting sensit
Slide 43: Agenda
Agenda Section 1. Executive summary Section 2. FY25/4Q25 Group results Section 3. FY25/4Q25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 44: FY26: Another Year of Growth in a Tougher Scenario
FY26: ANOTHER YEAR OF GROWTH IN A TOUGHER SCENARIO Closing remarks Section 4 Key strategic initiatives WM: challenging recruitment targets (~115 salespeople, 70% at variable costs) to support TFA growth, ongoing offering enhancement, further CIB-WM synergies CIB: slowdown in the IB market, addressed
Slide 45: In Execution of the FY25-28 One Brand–One Culture Plan
…IN EXECUTION OF THE FY25-28 «ONE BRAND–ONE CULTURE» PLAN Closing remarks Section 4 Stronger industrial Superior footprint driving high High cash distributions and sustainable growth capital generation Targeting industry-leading performance with low execution risk Shareholder remuneration REVENUES +
Slide 46: ~30% Total Yield Ahead, with Low Execution Risk
~30% TOTAL YIELD AHEAD, WITH LOW EXCUTION RISK LEVERAGING UNIQUE TRACK RECORD OF DELIVERY Closing remarks Section 4 >10Y (1/1/2015-24/07/2025) market performance and Total Shareholders Return (TSR) BP 2013-16 ✓ BP 2016-19 ✓ BP 2019-23 ✓ BP 2023-26 ✓ Rolling 2028 “One Brand – “From Holding to “Long-T
Slide 47: Best in Class Return for MB Investors
BEST IN CLASS RETURN FOR MB INVESTORS Closing remarks Section 4 TOP20 banks ranked by ~30% cumulative dividends ’25E-28E / Market cap MB: Top ranked Avg: ~20% EU for cash yield… Peer1 Peer2 Peer3 Peer4 Peer5 Peer6 Peer7 Peer8 Peer9 MB Peer10 Peer11 Peer12 Peer13 Peer14 Peer15 Peer16 Peer17 Peer18 Pe
Slide 48: …To Be Further Enhanced with Banca Generali
… TO BE FURTHER ENHANCED WITH BANCA GENERALI Closing remarks Section 4 • Proposed guidelines sent to AG for continuation of agreements between them and BG with possible extension to MB • General Meeting (ex art.104 TUF) possibly brought forward to 21 August, in accordance with timing requirements Si
Slide 49: …in a Value Accretive Journey
… IN A VALUE ACCRETIVE JOURNEY Closing remarks Section 3 Revenues (€bn,%), ROTE (%) ~€5bn 4.4 3.7 ~15% ~30% 14% <35% ~20% 34% >20% 24% ~50% 26% <30% FY25 FY28E MB FY28E + BG FY24 WM CIB CF INS& Other Other +synergies TFA >€110bn >€140bn >€250bn ROTE 14% 17% >20% 49
Slide 50: Building a Champion in Wealth Management
BUILDING A CHAMPION IN WEALTH MANAGEMENT A UNIQUE STORY FOR GROWTH, BUSINESS MIX, YIELD Closing remarks Section 4 MB: the only EU player with >€170bn AUM/AUC, >50% revenues from WM, >8% dividend yield (FY26) Ranking of European Banks with Market Cap > €10bn 112 101 96 91 88 76 61 56 55 49 44 40 38 3
Slide 51: Mediobanca Stand Alone Has Much Better Outlook
MEDIOBANCA STAND ALONE HAS MUCH BETTER OUTLOOK VS MPS+MB (AND EVEN MORE WITH BG) Closing remarks Section 3 MEDIOBANCA SHAREHOLDER VIEW MEDIOBANCA STAND ALONE MEDIOBANCA INTEGRATED INTO MPS ➢ Specialized financial player with strong ➢ Undifferentiated mid-size commercial bank potential in high growth
Slide 52: Q&A Session
MEDIOBANCA 12M RESULTS AS AT 30 JUNE 2025 Q&A SESSION
Slide 53: Agenda
Agenda Section 1. Executive summary Section 2. FY25/4Q25 Group results Section 3. FY25/4Q25 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Divisional tables
Slide 54: Macro Scenario Ahead
MACRO SCENARIO AHEAD UNCERTAINTY WEIGHS ON GROWTH EARLY IN THE FORECAST HORIZON Macro scenario Annex 1 June 2025 Scenario 20251 2026 2027 2028 IT GDP (y/y) 0.5% 0.6% 0.8% 0.8% ➢ Tariff uncertainty looms ahead EA GDP (y/y) 0.9% 0.9% 1.6% 1.6% ➢ Growth is softer than pre-tariff uncertainty IT Inflatio
Slide 55: Mediobanca Group P&L
MEDIOBANCA GROUP P&L Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 3,719 3,607 3% 951 920 983 865 979 Net interest income 1,972 1,985 -1% 496 497 494 485 492 Fee income 1,072 939 14% 253 273 316 231 279 Net treasury
Slide 56: Mediobanca Group A&L
MEDIOBANCA GROUP A&L Divisional tables Annex 2 €bn June25 Mar25 Dec24 Sept24 June24 QoQ1 YoY1 Funding 70.6 66.1 64.2 62.1 63.7 +7% +11% Bonds 31.6 30.0 28.7 27.4 27.6 +5% +14% Direct deposits (Retail&PB) 30.4 28.9 28.2 28.2 27.9 +5% +9% ECB - - - - 1.3 Others 8.6 7.3 7.3 6.5 6.8 +18% +25% Loans
Slide 57: Wealth Management Results
WEALTH MANAGEMENT RESULTS Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 973 924 5% 246 247 252 228 234 Net interest income 405 425 -5% 100 101 102 102 105 Fee income 555 489 13% 142 143 146 124 126 Net treasury inco
Slide 58: CIB Results
CIB RESULTS Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 888 763 16% 211 226 268 183 227 Net interest income 329 307 7% 91 86 81 72 74 Fee income 433 361 20% 92 107 150 84 136 Net treasury income 127 95 33% 28 33 3
Slide 59: Consumer Finance Results
CONSUMER FINANCE RESULTS Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 1,277 1,189 7% 323 326 319 310 301 Net interest income 1,134 1,044 9% 289 288 282 275 266 Fee income 143 145 -1% 34 37 37 35 35 Total costs (395
Slide 60: Insurance Results
INSURANCE RESULTS Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 522 530 -2% 172 106 128 115 181 Impairments 18 20 -10% 0 8 (2) 12 0 Net profit 516 522 -1% 166 110 119 121 169 Book value (€bn) 4.8 4.6 +5% 4.8 5.0 4.9
Slide 61: Holding Functions Results
HOLDING FUNCTIONS RESULTS Divisional tables Annex 2 FY25 FY24 4Q25 3Q25 2Q25 1Q25 4Q24 €m June25 June24 YoY1 June25 Mar25 Dic24 Sept24 June24 Total income 81 224 -64% 5 21 23 33 44 Net interest income 69 178 -61% 8 13 21 28 39 Net treasury income 9 39 -77% (3) 7 3 2 6 Fee income 5 6 -29% 1 1 (1) 3
Slide 62: 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 through Other Comprehensive Income CF Consumer Finance GOP Gross Ope
Slide 63: 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 64: 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 64
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