Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB
Mediobanca - Banca Di Credito Finanziario — Mediobanca - Banca di Credito Finanziario — FY2022 Earnings Presentation
60 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Jul 29, 2022
Slide 1: Mediobanca 12M Results as at 30 June 2022
MEDIOBANCA 12M RESULTS AS AT 30 JUNE 2022 Milan, 29 July 2022
Slide 2: Agenda
Agenda Section 1. Executive summary Section 2. FY22/4Q22 Group results Section 3. FY22/4Q22 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Asset quality by division 3. Wholesale Banking lending portfolio 4. Divisional tables
Slide 3: Growth – Quality – Stakeholders' Remuneration
GROWTH – QUALITY - STAKEHOLDERS’ REMUNERATION Business model efficiency, positioning and diversification, with no compromise on growth initiatives and quality, paved the way for record 12M and solid 4Q results despite war/markets turbulence and weaker macro environment GROWTH Sound expansion of prof
Slide 4: 12M Results Hitting New Record Levels
12M RESULTS HITTING NEW RECORD LEVELS €2.8BN REVENUES (UP 8%), €907M NET PROFIT (UP 12%), 10% ROTE Executive summary Section 1 Financial results Highlights MEDIOBANCA GROUP – 12M as at June22 Growth in EPS: €1.05, up 15% EPS 12m DPS TBVPS n. share/ow Growth in DPS: €0.75 up 14% with payout ~100%, 70
Slide 5: …Based on Outstanding Commercial Results…
…BASED ON OUTSTANDING COMMERCIAL RESULTS… Executive summary Section 1 NNM up 2.5x to €9bn TFAs up 12% to €80bn 9.0 +12% 71.5 80.2 3.5 28.8 3.8 25.2 +3x 1.3 5.5 51.5 46.3 2.5 >2x June21 June 22 June21 June 22 AUM/AUA Deposits AUM/AUA Deposits Loans up by ~€3.5bn (up 7% YoY) Revenues up by ~€220m (up
Slide 6: …Confirmed Also in 4Q, Despite 'War' and Volatility
…CONFIRMED ALSO IN 4Q, DESPITE ‘WAR’ AND VOLATILITY Executive summary Section 1 WM: TFAs flat at €80bn, due to >€2bn NNM in 4Q CF: €2bn of new loans in Q4 70% qualified for a total of €7.7bn in FY22, up 19% YoY 6 (€bn) 79.4 80.3 80.2 3 (€bn) 15 13.8 75.2 80 3 13.5 14 5 13.3 13.1 14 €9.0bn (up 2.5x Y
Slide 7: 4Q Solid as Whole: €704m Revenues, €192m Net Profit
4Q SOLID AS WHOLE: €704M REVENUES, €192M NET PROFIT Executive summary Section 1 Group: solid quarter Mediobanca Group – 4Q results as at June22 Revenues, GOP and net profit (€191m) remain high YoY, Revenues Fees CoR Net profit with strong NII (€373m)and fees again >€200m despite normalization of non
Slide 8: Record DPS €0.75 (Up 14% YoY) - Total Payout @100%
RECORD DPS €0.75 (UP 14% YOY) - TOTAL PAYOUT @100% Executive summary Section 1 DPS up to €0.75 In last 2Y €1.5bn of cumulative In line with BP19-23 targets (up 14% YoY) shareholder remuneration (€) (€bn) (€bn) 1.5 2.2-2.5 0.75 0.66 0.2 0.3-0.6 0.47 0.47 0.2 0.2 ECB 0.63 1.9 0.57 1.4 dividend 0.41 0.
Slide 9: MB Outperformed the Sector by Financial Results and Market Performance
MB OUTPERFORMED THE SECTOR BY FINANCIAL RESULTS AND MARKET PERFORMANCE Executive summary Section 1 Last 6Y performance MEDIOBANCA ITALIAN BANKS1 avg. EUROPEAN BANKS1 avg. Revenues (6Y CAGR2) +6% 0% 0% Net interest income / fees (6Y CAGR2) +3% / +11% -2% / +1% 0% / +5% PBT (6Y CAGR2) +8% +2% +2% Net
Slide 10: Mediobanca on Track to Reach BP23 Financial Targets
MEDIOBANCA ON TRACK TO REACH BP23 FINANCIAL TARGETS Executive summary Section 1 TFAs up to €83bn ✓ AUM/AUA up to €59bn ✓ Loans up to €51bn ✓ 4YCAGR +8% 4YCAGR +11% 4YCAGR +4% (€bn) (€bn) (€bn) 60 48 52 51 80 83 44 47 71 59 50 61 64 46 51 40 39 40 BP Target BP Target BP Target 30 20 10 0 FY19 FY20 FY
Slide 11: BP ESG Targets Comfortably Within Reach
BP ESG TARGETS COMFORTABLY WITHIN REACH Executive summary Section 1 CSR target in BP19/23 FY22 progress / Comments Avg. training hours up 25%, to enhance employees’ competences ✓ Target widely exceeded each year Targets achieved ~50% of female profiles to be considered for external selections ✓ New
Slide 12: Building the Foundation to Upgrade Our ESG Profile
BUILDING THE FOUNDATION TO UPGRADE OUR ESG PROFILE Executive summary Section 1 ENVIRONMENT SOCIAL GOVERNANCE Signatory to Net-Zero Banking “ToDei” launched aimed at matching Governance enhanced by changes to Alliance and Task Force on Climate- talent attraction & retention with Articles of Associati
Slide 13: Growing Recognition from Indexes and Ratings
GROWING RECOGNITION FROM INDEXES AND RATINGS Executive summary Section 1 Rating: 14/100 - low risk Rating: 63/100 Governance: 2 Industry rank: 80/929 Rank in sector: 3/99 Environment: 2 (Diversified Financials) Subindustry rank 2/126 Rank in region: 123/1,606 Social: 1 Included in the index (Investm
Slide 14: Agenda
Agenda Section 1. Executive summary Section 2. FY22/4Q22 Group results Section 3. FY22/4Q22 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Asset quality by division 3. Wholesale Banking lending portfolio 4. Divisional tables
Slide 15: GOP €1.3bn, 14% Higher Than FY21 and Pre-Covid Level
GOP €1.3BN, 14% HIGHER THAN FY 21 AND THAN PRE-COVID LEVEL FY22/4Q22 - Group results Section 2 MB Group GOP risk adj. trend (€m) +14% +14% 1,296 +6% 1,142 +8% 1,140 -2% = +2% -34% +68% 949 +4% +5% C/I C/I C/I C/I 46% 47% 47% 46% GOP Revenues Costs LLPs GOP Revenues Costs LLPs GOP Revenues Costs LLPs
Slide 16: NII Up 5% YoY, Driven by Volume Growth…
NII UP 5% YOY, DRIVEN BY VOLUME GROWTH… RESTARTING A LONG-TERM UPWARD TRAJECTORY FY22/4Q22 Group results Section 2 NII trend (€m and CAGR %) NII by segment (€m) Group NII trend by Q +5% 1,479 1,442 375 373 373 1,415 1,442 1,415 1,479 358 1,396 344 1,359 271 +6% -2% 281 287 1,288 948 -7% +6% 934 879
Slide 17: … With Funding Sources Actively Managed
… WITH FUNDING SOURCES ACTIVELY MANAGED TO PRESERVE HIGH DIVERSIFICATION AT COMPETITIVE COST IN A VOLATILE MARKET ENVIRONMENT FY22/4Q22 Group results Section 2 Funding and CoF trend Bonds expired and issued, CoF TLTRO maturities €bn €bn €bn ~65bps 54bps ~100bps ~85bps 61.2 56.2 5.4 2.9 3.0 3.4 5.1 8
Slide 18: Fees Scaling Up on Robust Growth Trend, Up 14% YoY
FEES SCALING UP ON ROBUST GROWTH TREND, UP 14% YOY (UP 39% IN LAST 3Y) FY22/4Q22 Group results Section 2 Fee income trend (€m and CAGR %) Fees by segment (€m) Group fee trend by Q +14% 851 851 241 203 202 205 745 173 745 630 346 318 +9% 630 226 622 611 123 123 123 - 4Q21 1Q22 2Q22 3Q22 4Q22 523 3Y C
Slide 19: Costs Up 6% to Reflect New Business and IT Initiatives
COSTS UP 6% TO REFLECT NEW BUSINESS AND IT INITIATIVES FY22/4Q22 Group results Section 2 +6% Labour costs up 6% YoY or €36m (up €36m 671 Labour cost increase 635 in FY21) driven by the increase of variable by division (€m) 43 45 remuneration (up 9% YoY) related to the 139 151 Other excellent commerc
Slide 20: CoR Flat @48bps
COR FLAT @48bps WITH NO OVERLAY RELEASE AND INCLUDING SOME EXTRA PROVISIONS FY22/4Q22 Group results Section 2 CoR trend (bps) 361 12M COR 12M COR Group 52bps Group 48bps Consumer 198bps Consumer 142bps CIB (21)bps CIB 11bps 248 Overlay stock trend (€m) 223 197 196 185 174 183 160 ~€300m ~€300m 141 1
Slide 21: Prudent Staging: NPLs Down in Relative Terms and Coverage Ratios Up
PRUDENT STAGING: NPLs DOWN IN RELATIVE TERMS AND COVERAGE RATIOS UP FY22/4Q22 Group results Section 2 Gross NPLs – Stage 31 Net NPLs – Stage 31 ➢ Stage 3 – Gross NPLs down to 2.5% of (Net exposure/Loans) gross loans (vs 2.7% in March22 and 3.2% in June21) due to UTPs returning to 68.4% 71.0% 8.0% 64
Slide 22: Capital Ratios High
CAPITAL RATIOS HIGH CET1 PHASE-IN @15.7% - FULLY LOADED @ 14.5% FY22/4Q22 Group results Section 2 CET1¹ ratio 4Q trend CET1¹ ratio FY22 trend 15,7% 15,3% (15bps) (130bps) +40bps (25bps) +30bps +190bps 16,3% (60bps) (60bps) 15,7% 14.0% FL 14.5% FL 15.1% FL 14.5% FL Mar22 Generated 70% cash INS RWA Ot
Slide 23: 12M Group Results at a Glance
12M GROUP RESULTS AT A GLANCE FY22/4Q22 Group results Section 2 Financial results Highlights D Net profit of €907m, up 12% YoY, ROTE@10% €m FY22 4Q22 3Q22 4Q21 YoY1 Total income 2,851 +8% 704 688 665 High single-digit growth in revenues, to €2,851m, strong NII trend (up Net interest income 1,479 5%
Slide 24: Agenda
Agenda Section 1. Executive summary Section 2. FY22/4Q22 Group results Section 3. FY22/4Q22 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Asset quality by division 3. Wholesale Banking lending portfolio 4. Divisional tables
Slide 25: All Divisions with High Double-Digit ROAC
ALL DIVISIONS WITH HIGH DOUBLE-DIGIT ROAC FY22 Divisional results Section 3 Revenues (€m, 12M) GOP risk adj. (€m, 12M) Net profit (€m, 12M) ROAC +8% ROTE adj. 10% +14% +12% 9% Mediobanca 2,628 2,851 1,296 9% ROTE 10% 1,142 Group 808 907 June21 June22 June21 June22 June21 June22 June21 Jun-22 28% +16
Slide 26: WM: Building a Strong IB-WM Model Delivering Growth
WM: BUILDING A STRONG IB-WM MODEL DELIVERING GROWTH REVENUE UP 16%, NET PROFIT UP 34%; ROAC@28% FY22 Divisional results - WM Section 3 Financial results Highlights D €m FY22 YoY1 4Q22 3Q22 4Q21 WM platform delivering strong results, with above-average growth rates, relying on: Total income 727 +16%
Slide 27: TFAs Up 12% to €80bn with Record €9bn NNM
TFAS UP 12% TO €80BN WITH RECORD €9BN NNM FY22 Divisional results - WM Section 3 1.8 1.7 1.2 1.5 0.3 Market Group TFAs trend (€bn) effect 0.5 -1.6 -2.2 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 80.2 (0.2) 71.5 9.0 63.6 4.0 NNM by segment 3.8 Premier +2.8 NNM by segment Private +6.0 51.5 Premier +3.7 4
Slide 28: €9bn NNM – At the Top Level of the Industry
€9BN NNM – AT THE TOP LEVEL OF THE INDUSTRY BOOSTED BY PRIVATE INVESTMENT BANKING MODEL FY22 Divisional results - WM Section 3 Group NNM breakdown (€bn) €6.2bn €9bn WM Core Growth 0.2 €2.8bn Private Investment Banking Model 3.2 9 Deals 2.8 13 Deals 1.2 1.6 Liquidity events Liquidity events Core busi
Slide 29: Premier (CheBanca!): Growth and Repositioning
PREMIER (CheBanca!): GROWTH AND REPOSITIONING FY22 Divisional results - WM Section 3 CheBanca! growing at double-digit rates, best in market1 … with higher penetration among wealthier customers2 12M AUM/AUA NNM as % of total AUM/AUA 14.3% TFA, €bn 34 4 10.6% 4 22 8.7% 4 7.6% 4 4 18 17 5.9% 4.9% 15 3
Slide 30: Private/AM: Focus on Niche Offer and Group Synergies
PRIVATE/AM: FOCUS ON NICHE OFFER AND GROUP SYNERGIES FY22 Divisional results - WM Section 3 Private Banking Asset Management MBPB: Private Market platform further enriched with the third of Cairn: two CLOs printed over the year, resulting in net AUM the BlackRock co-investment initiatives (reaching
Slide 31: Revenues, Fees, ROA Scaling Up
REVENUES, FEES, ROA SCALING UP WM CONTRIBUTION TO MB GROUP UP TO 25% REVENUES AND 50% OF FEES FY22 Divisional results - WM Section 3 WM contribution to MB Group (€m) WM fees by source (€m) and ROA (%) 1,200 25% 30% 0.93% 23% 24% 1,000 22% 25% 0.87% 727 0.84% ROA Gross1 800 16% 627 20% 0.82% Revenues
Slide 32: CF: Solid Business Model with High and Resilient Profitability
CF: SOLID BUSINESS MODEL WITH HIGH AND RESILIENT PROFITABILITY €370M RECORD NET PROFIT (UP 33% YOY); ROAC@33% FY22 Divisional results - Consumer Section 3 Financial results Highlights CF best-ever 12M net profit (€370m; ROAC @33%) backed by: 12M D €m 4Q22 3Q22 4Q21 highest ever new business (€7.7bn,
Slide 33: New Loans Hitting New Highs Due to Direct Channels
NEW LOANS HITTING NEW HIGHS DUE TO DIRECT CHANNELS & … DIRECT/DIGITAL DISTRIBUTION ENHANCEMENT (FROM 53% TO 67% OF PL LOANS) FY22 Divisional results - Consumer Section 3 New business by product (12M, €bn) Personal loans by channel (12M, €bn) 3YCAGR: +1% +19% YoY 7.7 7.4 +24% YoY 0.5 0.5 6.5 6.4 0.3
Slide 34: …Proprietary Platform Growth Able to Optimize NII and CoR
…PROPRIETARY PLATFORM GROWTH ABLE TO OPTIMIZE NII AND COR WITH DIFFERENT MACRO/COMPETITION SCENARIOS FY22 Divisional results - Consumer Section 3 Compass direct distribution platform trend Compass loan book profitability (12M, %) Compass Link: # 90 agents 400 +52% up # 104 7.2% 7.0% 7.0% 350 303 6.8
Slide 35: BNPL Launched with Strong Opportunities Ahead
BNPL LAUNCHED WITH STRONG OPPORTUNITIES AHEAD COMBINING COMPASS’ RISK MANAGEMENT STRENGTHS WITH FINTECH BOOST FY22 Divisional results - Consumer Section 3 SP0.6loans new business and Pagolight incidence 12% (3M, €bn) 0.5 10% BNPL - next steps 9% 0.4 8% 8% BNPL is key for new customers acquisition an
Slide 36: Strong Asset Quality Preserved
STRONG ASSET QUALITY PRESERVED FY22 Divisional results - Consumer Section 3 Ongoing healthy trend in early risk indicators … … keeping CoR at a very low level … Early deterioration index (3 months average) LLPs (€m) and cost of risk (bps) 361 380 80.0 150 330 70.0 248 60.0 223 280 185 196 183 50.0 1
Slide 37: CIB: Strong Positioning, Record Revenues, Best-Ever Quality
CIB: STRONG POSITIONING, RECORD REVENUES, BEST-EVER QUALITY NET PROFIT AT €225M, ROAC @142% FY22 Divisional results - CIB Section 3 Financial results Highlights Satisfactory 12M results with €225m net profit and 142% ROAC D €m FY22 YoY1 4Q22 3Q22 4Q21 (adj for MBCS extra LLPs) backed by: Total incom
Slide 38: Leadership Confirmed in Investment Banking in Italy…
LEADERSHIP CONFIRMED IN INVESTMENT BANKING IN ITALY… FY22 Divisional results - CIB Section 3 M&A Italy 2021/22 by Deal Value ($bn)1 ECM Italy 2021/22 ($bn – Bookrunner)2 DCM Italy 2021/22 (Bookrunner)3 #deals #deals #deals 1 37.8 46 1 19.8 4 1 UCG 72% 38 2 JPM 36.5 13 2 IMI 16.2 6 2 59% 31 3 GS 35.6
Slide 39: …With a Unique Track Record in M&A...
…WITH A UNIQUE TRACK RECORD IN M&A... FY22 Divisional results - CIB Section 3 Selected M&A Large Corp Transactions Pending May 2022 December 2021 December 2021 September 2021 Resilient M&A deal flow in 2H 2021/22 despite enduring adverse macro conditions ~€50bn EV Voluntary tender offer € 9.3bn € 2.
Slide 40: …As Well as in Capital Markets and Lending…
…AS WELL AS IN CAPITAL MARKETS AND LENDING… FY22 Divisional results - CIB Section 3 Selected ECM Transactions Equity Capital Markets (ECM) has seen strong levels of activity in December 2021 November 2021 June 2022 June 2022 February 2022 first 6M FY22 with several issuers tapping the market Althoug
Slide 41: …With Best-Ever Quality Corporate Portfolio
…WITH BEST-EVER QUALITY CORPORATE PORTFOLIO FY22 Divisional results - CIB Section 3 WB loan book by sector (sector above 2% as at June22) WB loans by rating (as at June22) 18% 20% 32% 31% 11% 23% 19% 69% 9% 50% 45% 7% 6% 6% 5% 4% 4% 4% 3% 3% 3% 2% 2% June17 June20 June22 2% 2% 2% 2% 2% Investment Gr
Slide 42: Insurance & PI: Positive and Stable Contribution
INSURANCE & PI: POSITIVE AND STABLE CONTRIBUTION FY22 Divisional Results – Insurance & PI Section 3 Financial results Highlights D €m FY22 YoY1 4Q22 3Q22 4Q21 FY22 net profit of €320m, up 4% YoY driven by revenues (up 26% YoY) fostered by solid AG contribution (up 32%). AG Total income 372 +26% 101
Slide 43: HF – Improved Results
HF – IMPROVED RESULTS FY22 Divisional results - HF Section 3 Financial results Highlights D €m FY22 YoY1 4Q22 3Q22 4Q21 Funding up 9% to €61.2bn and FY22/23 pre-funding already underway. CoF down ~10bps from 65bps to 54bps: Total income 3 -87% (5) 14 (6) Net interest income (51) +7% (11) (14) (13) D
Slide 44: Comfortable Funding and Liquidity Position
CONFORTABLE FUNDING AND LIQUIDITY POSITION FY22 Divisional Results - HF Section 3 Buffer comfortably above MREL requirement Limited bond maturities ahead MREL Liabilities: €bn Avg. CoF expiring bonds Bps vs. Euribor3M 30.7%RWA Senior 9.8 8.9% 135 165 130 bonds: 11% SNP: 1.8% Sub: 2.2% 3.2 90% covere
Slide 45: Agenda
Agenda Section 1. Executive summary Section 2. FY22/4Q22 Group results Section 3. FY22/4Q22 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Asset quality by division 3. Wholesale Banking lending portfolio 4. Divisional tables
Slide 46: Closing Remarks
CLOSING REMARKS Closing remarks Section 4 FY22: record year for revenues, fees, shareholders’ remuneration Mediobanca has reaffirmed its ability to grow and deliver above industry-average results and profitability in all macro scenarios, especially adverse Long term growth Last 6YCAGR Revenues: MB +
Slide 47: Mediobanca 12M Results as at 30 June 2022
MEDIOBANCA 12M RESULTS AS AT 30 JUNE 2022 Milan, 29 July 2022
Slide 48: Agenda
Agenda Section 1. Executive summary Section 2. FY22/4Q22 Group results Section 3. FY22/4Q22 Divisional results Section 4. Closing remarks Annexes 1. Macro scenario 2. Asset quality by division 3. Wholesale Banking lending portfolio 4. Divisional tables
Slide 49: Macro Scenario Trend in Last 3Y
MACRO SCENARIO TREND IN LAST 3Y Macro scenario Annex 1 Nov19 Scenario - at BP23 approval Scenario – FY21 (June) Scenario- FY22 (June) 2020 2021 2022 2023 2020 2021 2022 2023 2020 2021 2022 2023 IT GDP (y/y) 0.3% 0.4% 0.6% 0.7% (8.9%) 4.5% 4.3% 1.8% -9.1% 6.6% 2.7% 2.1% EA GDP (y/y) 1.0% 1.2% 1.2% 1.
Slide 50: Asset Quality by Division
ASSET QUALITY BY DIVISION Asset quality by division Annex 2 Net NPLs (€m) of which bad loans (€m) NPL coverage NPLs as % of loans (“deteriorate”) (“sofferenze”) 68% 71% 3.2% 2.7% 65% 2.5% -15% Gross Mediobanca 560 -13% 1.2% 0.9% 0.7% 452 384 Group 72 61 53 Net June21 Mar22 June22 June21 Mar22 June22
Slide 51: Mediobanca Group P&L
MEDIOBANCA GROUP P&L Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 2,851 2,628 +8% 704 688 753 706 665 Net interest income 1,479 1,415 +5% 373 373 375 358 344 Fee income 851 745 +14% 205 202 241 203 173 Net treasury income 162 197 -18% 29 35 47 50 45
Slide 52: Mediobanca Group A&L
MEDIOBANCA GROUP A&L Divisional tables Annex 4 D D €bn June22 Mar22 Dec21 Sept21 June21 QoQ1 YoY1 Funding 61.2 59.3 59.3 57.8 56.2 +3% +9% Bonds 18.5 18.5 18.9 18.8 18.4 - +1% Direct deposits (retail&PB) 28.8 28.1 27.2 26.1 25.2 +2% +14% ECB 8.4 8.4 8.4 8.5 7.4 - +13% Others 5.4 4.2 4.7 4.4 5.1 +29%
Slide 53: Wealth Management Results
WEALTH MANAGEMENT RESULTS Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 727 627 +16% 183 179 192 172 163 Net interest income 295 281 +5% 76 72 73 74 72 Fee income 422 336 +26% 105 104 117 96 89 Net treasury income 10 10 +0% 3 3 1 3 2 Total costs (517
Slide 54: Consumer Finance Results
CONSUMER FINANCE RESULTS Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 1,058 1,002 +6% 269 265 268 257 238 Net interest income 934 879 +6% 236 237 236 226 214 Fee income 124 123 +0% 33 28 32 31 24 Total costs (315) (314) +0% (87) (79) (77) (72) (84)
Slide 55: CIB Results
CIB RESULTS Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 708 698 +1% 160 157 206 185 161 Net interest income 281 287 -2% 68 73 72 68 68 Fee income 346 318 +9% 80 80 102 85 69 Net treasury income 80 93 -14% 12 5 32 32 24 Total costs (333) (307) +9% (
Slide 56: Insurance & PI Results
INSURANCE & PI RESULTS Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 372 295 +26% 101 77 96 98 111 Impairments (32) 52 n.m. (27) (6) (3) 3 15 Net result 320 309 +4% 69 66 88 97 110 Book value (€bn) 3.9 4.4 -12% 3.9 4.6 4.6 4.5 3.9 Ass. Generali (13%)
Slide 57: Holding Functions Results
HOLDING FUNCTIONS RESULTS Divisional tables Annex 4 12M 12M D €m 4Q22 3Q22 2Q22 1Q22 4Q21 June22 June21 YoY1 Total income 3 22 -87% (5) 14 (5) (1) (6) Net interest income (51) (47) +7% (11) (14) (12) (14) (13) Net treasury income 48 58 -17% 7 25 6 10 4 Fee income 6 12 -53% (1) 2 1 3 3 Total costs (1
Slide 58: Glossary
GLOSSARY MEDIOBANCA BUSINESS SEGMENT PROFIT & LOSS (P&L) and BALANCE SHEET CIB Corporate and investment banking DPS Dividend per share WB Wholesale banking EPS Earning per share EPS adj. Earning per share adjusted1 SF Specialty finance ESG Environmental, Social, Governance CF Consumer finance FAs Fi
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 Jessica Spina Tel. no. (0039) 02-8829.860 Luisa Demaria Tel. no. (0039) 02-8829.647 Matteo Carotta Tel. no. (0039) 02-8829.290 Marcella Malpangotto Tel. no. (0039) 02-8829.428 Email: investor.relation
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