Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB
Mediobanca - Banca Di Credito Finanziario — Mediobanca — FY2018 Earnings Presentation
75 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Jul 31, 2018
Slide 1: FY18 results as at 30 June 2018
Mediobanca FY18 results as at 30 June 2018 Growth and Sustainability The Mediobanca Group DNA Milan, 31July 2018
Slide 2: Agenda
Agenda 1. FY18 results – Executive summary 2. Group performance 3. Divisional results 4. Closing remarks Annexes 1. Quarterly segmental reporting tables 2. Glossary
Slide 3: Best ever revenues, GOP and profitability
Best ever revenues, GOP and profitability MB top performer in EU for revenues growth & profitability Best ever results fuelled by enhanced distribution and strong commercial efforts NNM totalling €5bn – TFA up 7% to €64bn New loans up 28% (to €16bn), loan book up 8% to €41bn Revenues up 10% to €2.4b
Slide 4: Last 3M – 4Q confirms Mediobanca's outstanding sustainability & ability to grow in any scenario
Last 3M – 4Q confirms Mediobanca’s outstanding sustainability & ability to grow in any scenario FY18 – Executive summary Section 1 GROWTH: no negative impact from recent market turmoil in 4Q Loan book up 2% QoQ (to €41.2bn): corporate and retail divisions growing at the same pace NNM up 5% QoQ (to €
Slide 5: Playing our 2018 Business strategic roadmap…
Playing our 2018 Business strategic roadmap… FY18 – Executive summary Section 1 Affluent & Premier: CB! Barclays integration completed AUM growth resumed (up €1.4bn) due both to FA hirings (from 65 to 226) and wealth advisors Private Banking: MBPB BE merger complete, rebranded as MBPB network empowe
Slide 6: … with increasing CSR approach …
… with increasing CSR approach … FY18 – Executive summary Section 1 CSR: shaping the already sustainable approach to business of Mediobanca Group with competences, best practice and corporate culture… FY17: Governance set up FY18: first Consolidated Non Financial CSR Targets Statement and Targets di
Slide 7: …we have enlarged our GOP and Profit…
…we have enlarged our GOP and Profit… FY18 – Executive summary Section 1 MB Group FY18 risk-adjusted operating profit (€m) +24% +20% YoY 98 (60) 1.144 +19% +9% 1,095 -22% 52 1,057 +6% 100 (92) 70 72 855 GOP Net interest Fee Costs Loan loss Other GOP Net equity PBT FY18 Funds PBT FY17 income income p
Slide 8: … we have enlarged our fee pool …
… we have enlarged our fee pool … FY18 – Executive summary Section 1 Revenues by sources - Fees up to 26% of total Revenues by division - WM up to 22% of total1 +10% 2.4 +10% 2.4 +7% 2.2 PI +7% 2.2 Other 2.0 2.0 WM 23% 20% 22% 16% NII 56% 56% 59% 59% Consumer 38% 41% 41% 41% 24% 26% Fees 30% CIB 30%
Slide 9: …we are more efficient in RWA management…
…we are more efficient in RWA management… FY18 – Executive summary Section 1 RWA YoY trend (€bn) 75% 66% 64% -10% 52.7 49 4.3 47.4 +1.3 7.7 (5.2) 4.0 (1.4) 6.3 11.8 11.8 5.8 5.8 23.1 19.5 FY17 Business Optimization AG FY18 BP19 Target growth deduction CIB WM Consumer PI HF RWA density FY18: RWAs dow
Slide 10: …stronger in capital creation…
…stronger in capital creation… FY18 – Executive summary Section 1 CET1 trend by sources Capital ratios trend (% and bps, phase-in) (phase-in,%) +90bps TC ratio CET1 ratio +140 (55) 18.1 +160 (80) (30) 14.2% (40) 16.8 (15) 13.3% 15.3 14.9 14.2 13.8 13.3 12.0 12.1 11.1 FY17 Earnings Dividend Business
Slide 11: …stronger in shareholders' remuneration…
…stronger in shareholders’ remuneration… FY18 – Executive summary Section 1 D € FY14 FY15 FY16 FY17 FY18 18/17 EPS 0.54 0.68 0.69 0.85 0.97 +14% DPS 0.15 0.25 0.27 0.37 0.47 +27% BVPS 9.0 9.9 9.9 10.0 10.4 +4% Group net profit 465m 590m 605m 750m 864m +15% Shares number 861m 867m 871m 881m 887m +1%
Slide 12: …with room for capital management: 3% buyback
…with room for capital management: 3% buyback FY18 – Executive summary Section 1 BUYBACK DETAILS The Board of Directors of Mediobanca adopted a resolution to propose authorizing a share buyback and subsequent disposal of treasury shares to the approval of shareholders in the annual general meeting t
Slide 13: MB well positioned in EU for revenue growth…
Mb well positioned in EU for revenue Growth… FY18 – Executive summary Section 1 In last 3Y MB top performer in Europe for revenue growth1 (3Y CAGR: +6%), both in … Revenues 3Y growth (%) +6% MB Peer1 Peer2 Peer3 Peer4 Peer5 Peer6 Peer7 Peer8 Peer9 Peer10 Peer11 Peer12 Peer13 Peer14 Peer15 Peer17 Pee
Slide 14: …capitalization and profitability
…capitalization and profitability FY18 – Executive summary Section 1 MB best in class for profitability (ROTE1 at 10%) and capital ratio (CET1>14%) allowing satisfactory shareholders remuneration (dividend yield 6%). ROTE 10% MB Peer1 Peer5 Peer2 Peer3 Peer4 Peer6 Peer7 Peer8 Peer9 Peer10 Peer11 Pee
Slide 15: Capital strength to foster growth - organic and via M&A - and shareholder remuneration
Capital strength to foster growth - organic and via M&A – and shareholder remuneration 14.2% 13.3% CET1 12.1% June16 June17 June18 June19E Esperia: -20bps M&A Cairn: -30bps RAM: -30bps Scouting on-going Barclays: -20bps Shareholders Payout 38% Payout 43% Payout 48% Buyback: up to -60bps remuneration
Slide 16: Well on track on BP19 trajectory
Well on track on BP19 trajectory FY18 – Executive summary Section 1 GOP (m) RWA (bn) Cost of risk (bps) ROAC1 -10% 105 ROTE 24% 87 62 10% 10% Mediobanca 1,057 53 9% 9% 855 1bn 47 49 ROTE adj. Group 8% FY17 FY18 BP19T (2) FY17 FY18 BP19T (2) FY17 FY18 BP19T (2) FY17 FY18 BP19T (2) 25 20% 20 Wealth +4
Slide 17: Agenda
Agenda 1. FY18 results – Executive summary 2. Group performance 3. Divisional results 4. Closing remarks Annexes 1. Quarterly segmental reporting tables 2. Glossary
Slide 18: Steady growth by earnings-generating assets …
Steady growth by earnings-generating assets … FY18 – Group performance Section 2 New loan by division Group loans trend by division (€bn) Group TFA trend (€bn) 12M 2018, €bn, var% YoY +8% 41.1 50% (AUM+AUA)/TFA 58% +10% 38.2 Leasing 0.4 +3% 34.7 4.7 63.9 +7% 10.4 59.9 +58% 9.7 (0,7) 6.1 Mortages 1.6
Slide 19: …with ALM optimized, retail funding enlarged, CoF reduced
…with ALM optimized, retail funding enlarged, CoF reduced FY18 – Group performance Section 2 Funding trend (€bn) Treasury trend (€bn) Average stock CoF (bps vs Euribor 3M) 49.1 48.9 LCR 245% 186% 155 155 145 6.1 6.3 5.9 4.3 105 100 90 19.3 19.2 16.5 85 13.3 80 17.8 19.1 60 FY17 FY18 FY17 FY18 FY16 F
Slide 20: … ensured fifth consecutive year of growth
… ensured fifth consecutive year of growth FY18 – Group performance Section 2 Group revenues trend and details (€m) 5Y CAGR: +7% 2,419 2,196 2,045 2,047 280 1,819 264 157 224 257 121 1,628 264 207 133 622 200 523 450 424 472 2.0bn 410 1.4bn 1,288 1,359 1,087 1,143 1,207 1,028 FY13 FY14 FY15 FY16 FY1
Slide 21: NII up 6% (fifth year of growth in a row)
NII up 6% (fifth year of growth in a row) FY18 – Group performance Section 2 Group net interest income (€m) Consumer NII trend (€m, 6m) 1,288 +6% 1,359 432 437 +7% 408 410 1,207 384 -9% 266 363 -3% 293 301 +5% 255 +31% 244 186 IH16 IIH16 IH17 IIH17 IH18 IIH18 +6% 869 +10% 818 Holding Function NII tr
Slide 22: Fees scaling up in size & sustainability driven by WM & CIB
Fees scaling up in size & sustainability driven by WM & CIB FY18 – Group performance Section 2 Group Fees by business1 (12M, €m) CIB fees by quarter (€m, 3m) June 16 June 17 June 18 64 62 +19% 57 +16% 40% 44% 47% 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17* 4Q17 1Q18 2Q18 3Q18 4Q18 €450m €523m €622m 20% 21%
Slide 23: Cost base up mainly due to enlarged consolidation area
Cost base up mainly due to enlarged consolidation area FY18 – Group performance Section 2 MB Group cost base (€m) Costs by divisions (€m, pro-forma for acquisitions) +1% +29 1,101 1,115 1,101 1,115 1,024 (15) 158 - 159 566 558 516 - 417 415 280 +2% 285 508 535 557 35 +23% 44 212 - 212 FY17 FY17 Busi
Slide 24: CoR deflated, coverage ratios up
CoR deflated, coverage ratios up FY18 – Group performance Section 2 Cost of risk by division (bps) NPLs (“deteriorate”, €m) and coverage (%) 243 57% 54% 55% 1200.0 199 53% 1000.0 43% 800.0 195 946 941 600.0 -10% 842 33% 87 62 400.0 23% June16 June17 June18 72 Net NPLs NPLs coverage 5 21 Performing l
Slide 25: Superior asset quality improved further
Superior asset quality improved further FY18 – Group performance Section 2 NPLs Bad loans Coverage As % of loans (“deteriorate”) (“sofferenze”) 73% -10% 70% 2.5% 2.1% Mediobanca 941 -10% 57% 842 55% Group 157 141 0.4% 0.3% June17 June18 June17 June18 June17 June18 June17 June18 -16% 57% 61% Wealth -
Slide 26: Agenda
Agenda 1. FY18 results – Executive summary 2. Group performance 3. Divisional results 4. Closing remarks Annexes 1. Quarterly segmental reporting tables 2. Glossary
Slide 27: Profitability enhanced in all divisions
profitability enhanced in all divisions FY18 – Divisional results Section 3 Revenues GOP PBT ROAC1 +10% +24% +20% ROTE 10% 9% Mediobanca 2,419 1,057 2,196 1,096 8% ROTE adj. Group 855 914 FY17 FY18 FY17 FY18 FY17 FY18 FY17 FY18 +14% 13% +47% +41% Wealth 10% 526 Management 460 93 94 63 67 (WM) FY17 F
Slide 28: Wealth Management
Wealth Management Wealth Management (WM) Affluent & Premier CheBanca! Private & HNWI MB PB CMB, Spafid Mediobanca AM MB SGR, CMG Cairn, RAM 28
Slide 29: Wealth Management objectives: BP 16/19 mission
BP 16/19 mission: prioritize the development of a sizeable WM Platform investing capital organically and through M&A FY18 – Divisional results Section 3 Affluent & Premier Private & HNWI Asset management CheBanca!: A DEFINITIVELY SET UP A SPECIALIZED EXPLOIT OPTION VALUE DIFFERENT OFFERING GROUP AM
Slide 30: WM: growth delivered in all business metrics
WM: growth delivered in all business metrics FY18 – Divisional results Section 3 WM Division = Affluent & Premier + Private & HNWI & AM No. of clients 822 807 (’000) 795 780 15 15 June17 June18 June17 June18 June17 june18 59.9 63.9 41.3 22.6 39.4 7.6 20.4 12.1 7.6 TFA (€bn) 19.0 12.1 4.8 (AUM, AUA,
Slide 31: Enhanced omni-channel distribution…
Enhanced omni-channel distribution… PROPRIETARY CHANNELS INDIRECT CHANNELS Wealth advisors Financial advisors +20% 541 +3x 226 452 125 Wealth advisors Financial advisors 130 416 Affluent 226 65 125 Private 416 June17 June18 322 FA shops FA shops Digital platform June17 June18 46 +2x 46 Digital CRM 1
Slide 32: …fostered €5bn in high-quality NNM
…fostered €5bn in high-quality NNM both Affluent and Private customer segments up both AUM/Deposits materially increased FY18 - Divisional results Section 3 Group TFAs NNM by customer segment (€bn) Group TFAs NNM by product (€bn) 4.7 4.7 1.4 2.2 1.4 1.5 >1.5* 1.5 >1.5 1.4 3.3 0.3 0.7 2.5 0.3 0.3 0.3
Slide 33: AUM/AUA up 25% to >€37bn
AUM/AUA up 25% to >€37bn FY18 - Divisional results Section 3 Group AUM/AUA trend (€bn) 41% 50% 58% Organic growth: €3.2bn in 12M, up 11% 37.3 0.8 4.1 30.0 <1.4 1.1 ~13 22.9 28.9 17.4 13.5 7.1 8.4 3.9 June16 Barclays, June17 CheBanca! MBPB/CMB Cairn RAM June18 Esperia acquisition¹ acquisitions Afflue
Slide 34: Revenues & GOP scaling up with sustainable mix
Revenues & GOP scaling up with sustainable mix FY18 - Divisional results Section 3 WM revenues by customer WM revenues by source WM GOP by customer segment segment (12M, €m) (12M, €m) (12M, €m) +15% 526 526 +38% 460 460 +47% 93 234 334 259 ~50% 334 ~45% 185 203 +29% 63 52 ~55% 142 135 49 45 275 293
Slide 35: WM: €64bn TFA, >€500m revenues, 13% ROAC
WM: €64bn TFA, >€500m revenues, 13% ROAC FY18 – Divisional results Section 3 Affluent & Premier Private banking CheBanca! – AM&–Premier) (Affluent MAAM Wealth Management (WM) CheBanca! MBPB – MBSGR – MAAM WM: increasingly visible and valuable CheBanca!: growth resumed Growth driven by the reshaped €
Slide 36: Consumer Banking
Consumer Banking Consumer Banking (CB) Consumer Banking Compass 36
Slide 37: Consumer BP 16/19 mission - Keep growing
Consumer BP 16/19 mission - Keep growing leveraging on strengths and market opportunities FY18 – Divisional results Section 3 IMPROVE CONSOLIDATE EXPLOIT OBJECTIVES PROFITABILITY POSITIONING NEW OPPORTUNITIES ACTIONS Value management Delivery Innovation the sole guide empower distribution in product
Slide 38: New business through all distribution channels
New business through all distribution channels FY18 – Divisional results Section 3 Compass new business by product (€bn) Personal loans new business by channel¹ (€m) Compass branches Banks +6% 7.0 6.6 1.0 1.0 1.4 1.5 1.7 1.8 1.4 1.4 1.4 1.2 +6% 3.7 FY15 FY16 FY17 FY18 FY15 FY16 FY17 FY18 3.5 0.5 Pos
Slide 39: Record revenues (€1bn), net profit (€315m), ROAC (30%) achieved
Record revenues (€1bn), net profit (€315m) , ROAC (30%) achieved FY18 – Divisional results Section 3 New loans reverted to high single-digit stock growth... … fostering revenues growth … New loans - €bn Stock - €bn €m +6% +7% +7% +7% 1100 996 936 +6% 873 +6% 900 700 11.8 12.5 7.0 11.0 500 6.6 6.2 30
Slide 40: In last 10Y impressive results delivered over the whole cycle
In last 10Y impressive results delivered over the whole cycle through organic growth and M&A In the last 10Y, Compass’s loan book tripled… … as did its revenues … €bn €m +3x +3x 12.5 11.8 936 996 11.0 873 10.4 800 9.1 9.3 9.6 713 713 8.8 638 687 8.4 8.1 8.3 592 605 Linea acquisition 379 322 3.7 J07
Slide 41: Corporate & Investment Banking
Corporate & Investment Corporate & Banking (CIB) Investment Banking Corporate & Investment Banking Specialty Finance 41
Slide 42: CIB BP 2016/19 mission - Increase profitability
CIB BP 2016/19 mission - Increase profitability leveraging on strengths and market opportunities FY18 – Divisional results Section 3 Wholesale Banking Factoring Credit Management IMPROVE BECOME A TOP 10 LEVERAGE PROFITABILITY FURTHER OPERATOR LONG-STANDING SKILLS Strengthen MB positioning in From an
Slide 43: Revenues resilient due to stronger M&A and Specialty Finance
Revenues resilient due to stronger M&A and Specialty Finance FY18 - Divisional results Section 3 CIB revenues YoY trend (€m, 12M) June 17 June 18 Lending Lending 41% Advisory Advisory 7% 36% 10% ~55% Financing €636m ~40% IB (M&A+Capmkt) €631m ~5% Trading Specialty Capmkt Capmkt Finance 30% 32% Speci
Slide 44: Leading Position in M&A …
Leading Position in M&A … FY18 – Divisional results Section 3 Involved in all industry-shaping deals of 2017-18, including F2i M&A CF Italy – Announced deals (July 2017 – June 2018) and Mediaset tender offer for EI Towers, the acquisition of Abertis by Atlantia, the reorganization of Enel LatAm, Pry
Slide 45: … Equity capital markets and cash equity
… Equity capital markets and cash equity FY18 – Divisional results Section 3 Mediobanca boasts an unrivalled track record in Italian Bookrunner Italy ECM (exclud. convertibles) ECM transactions, managing virtually all the largest deals as (July17 - June18) Global Co-ordinator Growing leadership in S
Slide 46: Specialty Finance: intense activity supporting growth
Specialty Finance: intense activity supporting growth FY18 - Divisional results Section 3 MBFacta market positioning MBCredit Solution loan book trend (€m) (turnover as at Mar18, €bn, Assifact) +2x 14.4 GBV: €0.2bn GBV: €1.3bn 267 289 8.8 135 Dec15 Dec16 Dec17 21° 12° 10° 6.6 June17 IH18 Dec17 IIH18
Slide 47: CIB: ROAC up to 14%
CIB: ROAC up to 14% FY18 – Divisional results Section 3 Wholesale Banking (WB) Specialty Finance (SF) Corporate & Investment Banking (CIB) Fee-driven business Becoming visible RWA optimized Diversified revenue mix Net profit up 4% to €264m K-light: strong fee contributor (35% Revenue up 33%, now of
Slide 48: Principal Investing
Principal Investing (PI) Principal Investing Principal Investing Ass. Generali AFS stake ptf 48
Slide 49: BP16-19 Mission in Principal Investing
BP16-19 Mission in Principal Investing Continue deleveraging FY18 – Divisional results Section 3 Continue disposals Optimize capital Value management OBJECTIVES ACTIONS €1.3bn BV disposals Halve contribution to Group RWA reduction GOP (to 20%) - AG stake from 13% to 10% from €7bn to €2bn - €0.6bn AF
Slide 50: Deleveraging ongoing – ROAC 15%
Deleveraging ongoing – ROAC 15% FY18 – Divisional results Section 3 KPIs (€m) Main equity investments as at June 2018 (€m) Book value AFS PI - €m June17 June18 D Company % €m reserve Revenues 273 295 +8% Ass.Generali 13.0% 3,171 n.m.1 Gain from disposals/ 162 96 -40% Italmobiliare 6.1% 61 37 impairm
Slide 51: Holding Functions
Holding Functions Holding Functions Group ALM & Treasury Leasing 51
Slide 52: BP16-19 Mission in Holding Functions
BP16-19 Mission in Holding Functions Continue optimizing FY18 – Divisional results Section 3 Treasury ALM Leasing Central costs OBJECTIVES ACTIONS Reduce K absorbed Ordered deleverage Reduce special project costs Improve NII Support MidCaps platform Synergies on acquisitions The Holding Functions we
Slide 53: Loss reduced, cost under control
Loss reduced, cost under control FY18 – Divisional results Section 3 Loss trend (€m) Cost trend (€m) -30% +2% like for like¹ 174 (342) 166 26 +48 25 flat (7) (239) 31 +62 33 +4% 108 117 like for like PBT Revenues Costs Systemic PBT FY17 FY18 June17 charges June18 Central costs Treasury Leasing & oth
Slide 54: Holding Function: ALM optimized, Loss reduced
Holding Function: ALM optimized, Loss reduced FY18 – Divisional results Section 3 Holding Functions Treasury, ALM, central functions Leasing (HF) Optimization Ordered deleverage ongoing Net loss reduced to €159m due to NII strongly improved Selective new business matched Improved NII, lower provisio
Slide 55: Agenda
Agenda 1. FY18 results – Executive summary 2. Group performance 3. Divisional results 4. Closing remarks Annexes 1. Quarterly segmental reporting tables 2. Glossary
Slide 56: Ready to cope with a more volatile macro scenario
Ready to cope with a more volatile macro scenario leveraging on a contained Group risk profile Closing remarks – What’s next Section 4 Low and diversified bond exposure Effective funding structure and high liquidity MB has a low exposure to Italian Govies in banking book: Effective MB Group funding
Slide 57: Playing our 2019 strategic roadmap…
Playing our 2019 strategic roadmap… June16 June 17 June 18 June 19 WEALTH MGT Barclays integration completed Growing up in size and ROAC leveraging distinctive DNA: Affluent & Premier: CB! AUM growth resumed (up €1.4bn) due both to FA hirings the human-digital bank, with a genuine omni-channel (160
Slide 58: …we'll deliver further revenue growth & higher shareholders' remuneration
… we’ll deliver further revenue growth & higher shareholders’ remuneration Closing remarks – what’s next Section 4 Fee income growth NII growth In FY18 NII up 6%, growing for the sixth year in a row In FY18 fees up 19%, growing for the fifth year in a row NII 6Y CAGR (2012-2018): +6% Fee income 5Y C
Slide 59: Mediobanca
Mediobanca FY18 results as at 30 June 2018 Growth and Sustainability The Mediobanca Group DNA Milan, 31July 2018
Slide 60: Quarterly segmental reporting tables
Quarterly segmental reporting tables Annex 1 60
Slide 61: Group P&L account
Group P&L account FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 2,419 2,196 +10% 619 630 572 598 539 Net interest income 1,359 1,288 +6% 345 342 340 332 333 Fee income 622 523 +19% 166 165 153 138 121 Net
Slide 62: Group A&L
Group A&L FY18 results – Quarterly segmental reporting tables Annex 1 D D €bn June18 Mar18 Dec17 Sept17 June17 QoQ1 YoY1 Funding 48.9 48.3 47.4 48.5 49.1 +1% Bonds 19.2 19.7 18.8 20.2 19.3 -3% -1% Direct deposits (retail&PB) 19.1 18.1 18.2 17.8 17.8 +6% +7% ECB 4.3 4.3 4.3 4.3 5.9 -0% -26% Others 6.
Slide 63: Wealth Management results
Wealth Management results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 526 460 +14% 142 129 133 122 128 Net interest income 255 244 +5% 66 63 63 64 66 Fee income 259 203 +27% 73 64 66 56 60 Net treasury i
Slide 64: CheBanca! Results (Affluent & Premiere)
CheBanca! Results (Affluent & Premiere) FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 293 275 +7% 76 73 74 70 73 Net interest income 212 205 +3% 53 52 53 54 55 Fee income 80 69 +16% 23 20 21 16 19 Total co
Slide 65: Private Banking results
Private Banking results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 234 185 +26% 65 56 59 53 55 Net interest income 43 39 +11% 12 11 10 10 11 Fee income 179 134 +33% 51 44 45 40 41 Net treasury income 11
Slide 66: Consumer banking: Compass results
Consumer banking: Compass results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 996 936 +6% 252 251 247 246 222 Net interest income 869 818 +6% 218 218 218 214 205 Fee income 127 118 +8% 34 32 29 32 17 Tot
Slide 67: CIB results
CIB results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 631 636 -1% 150 164 164 153 129 Net interest income 266 293 -9% 66 64 67 69 70 Fee income 254 250 +2% 63 75 63 53 51 Net treasury income 111 93 +18
Slide 68: WB results
WB results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 516 550 -6% 119 136 133 127 107 Net interest income 199 249 -20% 47 46 52 54 59 Fee income 207 207 53 65 48 42 40 Net treasury income 111 94 +18% 20
Slide 69: Specialty Finance results
Specialty Finance results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 115 86 +33% 30 28 31 26 22 Net interest income 68 44 +54% 20 18 15 15 11 Fee income and other income 47 42 +11% 11 10 15 11 11 Total
Slide 70: Principal Investing results
Principal Investing results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income 295 273 +8% 78 93 33 91 77 Gains from disposals 96 162 -40% 2 0 5 89 23 Impairments (2) (1) (1) (0) (0) (0) 0 Net result 374 422 -1
Slide 71: Holding Functions results
Holding Functions results FY18 results – Quarterly segmental reporting tables Annex 1 D 2Q 1Q 4Q 3Q 2Q €m FY18 FY17 YoY1 June18 Mar18 Dec17 Sept17 June17 Total income (9) (57) -84% 3 (1) (3) (8) (10) Net interest income (38) (76) -51% (7) (6) (9) (16) (11) Net treasury income 13 3 6 3 3 2 (3) Fee in
Slide 72: Glossary
GLOSSARY Annex 3 72 MEDIOBANCA
Slide 73: Glossary
GLOSSARY MEDIOBANCA BUSINESS SEGMENT PROFIT & LOSS (P&L) and BALANCE SHEET CIB Corporate and investment banking GOP Gross operating profit WB Wholesale banking Leverage ratio CET1 / Total Assets (FINREP definition) SF Specialty finance Ls Loans CB Consumer banking LLPs Loan loss provisions WM Wealth
Slide 74: Disclaimer
Disclaimer This presentation contains certain forward-looking statements, estimates and targets with respect to the operating results, financial condition and business of the Mediobanca Banking Group. Such statements and information, although based upon Mediobanca’s best knowledge at present, are ce
Slide 75: Investor contacts
Investor contacts Mediobanca Group Investor Relations Piazzetta Cuccia 1, 20121 Milan, Italy Jessica Spina Tel. no. (0039) 02-8829.860 Luisa Demaria Tel. no. (0039) 02-8829.647 Matteo Carotta Tel. no. (0039) 02-8829.290 Email: investor.relations@mediobanca.com http://www.mediobanca.com 75