2024 HALF-YEAR FINANCIAL REPORT
Arman (Nice 1928 - New York 2005), Decomposed violin, lithograph on paper, detail, Credem art collection
2
2024 HALF-YEAR FINANCIAL REPORT
CONTENTS
Governing and Control Bodies | 7 |
HALF-YEAR FINANCIAL
REPORT
Interim Directors' Report on Operations | 9 |
Half-yearly condensed consolidated financial statements | 58 |
Explanatory notes | 72 |
Attachments to the explanatory notes | 252 |
Certification by the Chairman and the Manager responsible | 260 |
for preparing the company's financial reports | |
Independent Auditor's Report | 264 |
The present document is the English translation of the Italian half-year financial report and it has been translated only for the convenience of international readers. The Interim Directors' Report on Operations was prepared using International Reporting Standards (IAS/IFRS); therefore it is not intended to present the financial position and results of operations and cash flows according to accounting principles and practices other than IAS/IFRS.
HALF-YEAR FINANCIAL REPORT
4
GOVERNING AND CONTROL BODIES
BOARD OF DIRECTORS
Chairman | Lucio Igino Zanon di Valgiurata | |
Vice-Chairmen | Enrico Corradi(*) | Luigi Maramotti |
Directors | Paola Agnese Bongini(**) | Giorgia Fontanesi(*) |
Mariaelena Fontanesi | Elisabetta Gualandri(**) | |
Alessandro Merli(**) | Ernestina Morstofolini(*) | |
Edoardo Prezioso(*) | Anna Chiara Svelto(**) | |
Giovanni Viani |
(*) Members of the Executive Committee
(**) Independent directors pursuant to Art. 148, paragraph 3, of Italian Legislative Decree No. 58/1998
BOARD OF STATUTORY AUDITORS
Chairman | Anna Maria Allievi | |
Standing auditors | Giulio Morandi | Maria Paglia |
Alternate auditors | Maurizio Bergomi | Stefano Fiorini |
SENIOR MANAGEMENT | ||
General Manager | Angelo Campani | |
Co-General Managers | Stefano Morellini | Stefano Pilastri |
Deputy General Manager | Giuliano Cassinadri | |
Central Managers | Paolo Magnani | |
Francesco Reggiani | ||
Central Co-Manager | Maurizio Giglioli | |
Deputy Central Managers | Roberto Catellani | Ettore Corsi |
Alessandro Cucchi | ||
Manager responsible for preparing the | ||
company's financial reports | ||
Giuseppe Malato | ||
INDEPENDENT AUDITOR | ||
Deloitte & Touche S.p.A. |
HALF-YEAR FINANCIAL REPORT
6
HALF-YEAR FINANCIAL REPORT
7
INTERIM DIRECTORS' REPORT
ON OPERATIONS
INTERIM DIRECTORS' REPORT ON OPERATIONS
9
SCOPE OF CONSOLIDATION
CREDITO
EMILIANO
CREDEM | |||
EUROMOBILIARE | CREDEMLEASING | MAGAZZINI | CREDEM |
PRIVATE BANKING | GENERALI DELLE | ASSICURAZIONI | |
100% | TAGLIATE | 50% | |
100% | 100% | ||
CREDEMFACTOR | CREDEMTEL | ANDXOR | |
100% | 100% | 40% | |
AVVERA | CREDEMVITA | SBC FINTECH | |
MILAN 2224 | |||
100% | 100% | 35.02% | |
CREDEM | CREDEM CB | FLAIRBIT | |
PRIVATE EQUITY | |||
SGR | 70% | 10% | |
100% | |||
EUROMOBILIARE | |||
ASSET | MYNET | ||
MANAGEMENT | |||
S.G.R. | 8.73% | ||
100% | |||
EUROMOBILIARE | |||
ADVISORY | |||
SIM | |||
100% | |||
EUROMOBILIARE | |||
FIDUCIARIA | |||
100% |
Notes:
the percentages refer to directly or indirectly exercisable voting rights the highlighted equity investments are valued under the equity method
On 1 April 2024, the Plan for the Merger of the Companies Blue Eye S.r.l. and Sata S.r.l. into Credemtel S.p.A. was acknowledged.
INTERIM DIRECTORS' REPORT ON OPERATIONS
10