Credito Emiliano S.p.a. · MIL:CE
Credito Emiliano — Q1 2009 Earnings Presentation
12 slides from Credito Emiliano's earnings presentation, May 2009
Slide 1: 1Q09 Group Results
1Q09 Group Results
Slide 2: Executive Summary
Executive Summary 1Q09 Highlights • Back to profit quarter on quarter despite overall tough environment • Spreads and lending volumes contraction drive Net Interest Income down • Fees suffering a less profitable product mix • Trading Income takes advantage by markets positive performance in the firs
Slide 3: P&L
P&L EURm 1Q08 4Q08 1Q09 yoy qoq Total Income 237.3 173.2 222.3 -6.3% +28.3% Operating Costs -160.5 -165.2 -165.0 +2.8% -0.1% EBITDA 76.8 8.0 57.3 -25.4% Amortization and Depreciation -8.1 -10.1 -10.8 +33.3% +6.9% EBIT 68.7 -2.1 46.5 -32.3% Loan Loss Provisions -10.0 -20.3 -25.9 +159.0% +9.2% Provisi
Slide 4: Revenues and Costs
Revenues and Costs 93.9 102.9 38.1 EURm •Net Interest Income declining while Non Interest Income recovering 143.4 135.1 119.4 0 1Q08 4Q08 1Q09 Net Interest income Non Interest Income 60.6 64.9 61.8 EURm •Despite 2008 investments (70 branches acquired and 18 opened) costs are fairly stable 99.9 100.3
Slide 5: Revenues and Costs
Revenues and Costs 6.08 6.00 6.02 6.02 6.06 5.67 5.55 5.36 5.44 5.00 4.74 •Interest rates trend affecting total 4.64 4.00 group’s spread level 3.53 3.69 3.67 3.72 3.74 3.73 3.57 3.39 3.53 3.00 3.01 2.53 2.55 2.45 2.00 1.93 2.31 1.73 1.77 1.83 1.68 1.00 1.05 0.00 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q
Slide 6: Loan Book Breakdown
Loan Book Breakdown 17,621 17,236 16,275 18,000 2,847 2,804 •Lending volumes show signs of decrease 2,327 largely expected 12,000 4,724 5,278 5,313 EURm 1,947 •SMEs is the segment affected mostly by the 1,895 1,934 6,000 slowdown 7,137 7,548 7,185 0 1Q08 FY08 1Q09 Short Term Loans Leasing Mortgage L
Slide 7: Credit Quality
Credit Quality 1.77 1.56 0.55 % on Net Tolal Loans 1.00 0.57 •Coverage is 61%, was 62% at the end of 2008 0.33 0.65 0.52 and 64% at the end of 1Q08 0.37 0.46 0.58 0.30 1Q08 FY08 1Q09 NPLs Watchlist & restructured Past Due 300 255.4 250 215.6 •Small Business and Mortgages showing 200 EU R m 154.1 the
Slide 8: Fundings
Fundings EURm 2007 2008 1Q09 Sight Deposits 9,520 10,444 10,099 •Timid but encouraging movement from Time deposits 1,785 3,275 2,805 Deposits to AUM Repos 735 2,216 1,229 Deposits & Repos 12,040 15,935 14,133 •Bonds decreasing as a result of EMTN bonds maturities (€1 bn) Insurance Reserves 2,146 1,7
Slide 9: Liquidity and Trading Book
Liquidity and Trading Book 15,935 14,133 15, 000 12,040 10, 000 5,225 •Efficient and flexible recourse to all funding 4,848 5, 000 4,041 sources 1,099 1,464 1,493 0 2007 2008 1Q09 Int erbank, net Deposit s & Repos Bonds 5000 4,691 4,510 4000 3,381 •Group financial assets decreasing mostly 3000 EURm
Slide 10: Solid Capital Ratios
Solid Capital Ratios 1,800 9.6% 10.0% •7.5% Core Tier I and 10.0% Tier Total excellent 1,600 9.2% 7.2% 7.5% ratios 1,400 8.1% 1796 1,200 • Extended application to retail lending, of internal 1,000 1501 rating system Basel II compliant, is expected to 1358 800 1306 1342 free more capital 600 400 Cred
Slide 11: Distribution Network Expansion
Distribution Network Expansion 5 1 2007 2008 1Q09 76 0 31 22 Credem Branches 479 563 562 B.ca Euromobiliare Branches 22 27 26 10 137 Total Branches 501 590 588 50 3 8 Corporate Centres 42 44 43 5 30 Credem Points 29 36 36 1 B.ca Euromobiliare Fin. Stores 22 22 22 44 51 2 Credem FAs 468 640 666 4 Ban
Slide 12: Disclaimer and Contacts
Disclaimer and Contacts Pursuant to Article 154-bis, section 2 of the “Consolidated Law on Financial Intermediation” dated Feb 24, 1998, the Financial Manager Paolo Tommasini, declares that the accounting information contained in this document correspond to documentary records, ledgers and accountin
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