Finecobank Banca Fine Spa (FCBBF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. This is the Coral School Conference operator. Welcome and thank you for joining the FinEco Bank first quarter 2025 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO and General Manager of Fineco Bank. Please go ahead, sir. Good morning, everyone, and thank you for joining our first quarter 2025 results conference call. Before moving into the details of the presentation, let me stress that Fineco is recording an incisable acceleration of its growth dynamics, supported by a very healthy underlying quality. Our growth is leveraging on our superior customer experience and on our fair and transparent positioning, not on short-term aggressive offer. This approach is mirrored in the quality of our revenues mix, which is entirely recovering with a very low percentage of upfront fees and no performance fees at all. Let's now move to the first quarter results. Net profit in the period reached $164.2 million, up by 11.7% year-on-year. Revenues achieved $329.3 million as growth of non-financial income offset lower interest rates. Investing increased by 11.3% year-on-year thanks to the volume effect and the higher control of the value chain by Finneco Asset Management. And brokerage is up by 29.7% year-on-year, thanks to the enlargement of our active investors and higher market volumes. Operating costs were well under control at $87.2 million, increasing by 7%, excluding costs related to the growth of the business, as we anticipated the timing of some ex...