Mediobanca BoD- Results for FY 2021-22 approved

Price sensitive

GROWTH, QUALITY AND STAKEHOLDER REMUNERATION:
NET PROFIT €907m (UP 12%), EPS €1.05 (UP 15%), DPS €0.75 (UP 14%),
NNM €9bn (UP 2.5x), CUSTOMER LOANS €52bn (UP 7%)

The effectiveness of Mediobanca’s business model, its distinctive positioning
and diversified activities, have enabled the Group to deliver record 12M results
despite the adverse macro scenario and market turmoil, while at the same
time maintaining quality, solidity and development initiatives

Growth: record full-year results (12M)
Robust commercial performance:
NNM nearly 3x higher at €9bn,1 TFAs up 12%  to €80bn, Loans up 7%1 to €52bn
Record top line/GOP: revenues up 8%1 to €2,851m, GOP up 14%1  to €1.3bn
NII up 5%1 to approx. €1,480m, fee income up 14%1 to approx. €850m
Net profit up 12%1 to €907m
EPS up 15%1 to €1.05

Quality
Efficiency preserved (cost/income ratio 46%) despite ongoing investments in
distribution, innovation and talent (costs up 6%1)
Cost of risk stable at 48 bps, gross NPLs down to 2.5% of total loans (from 3.2%),
coverage ratio up to 71% (from 65%), overlays unchanged at approx. €300m
ROTE 10% (up 1pp1) with CET1 phase-in 15.7% (14.5% fully-loaded)

Stakeholder remuneration
Proposed dividend per share: €0.75, up 14%1, equal to a cash payout of 70%
A total of 16.5m shares deriving from the buyback completed at end-June 2022
will be cancelled (total payout near 100%)
ESG: commitment and ambitions expanded with NZBA and TCFD 

Solid 4Q results beat expectations
Consumer Finance total new loans €2.0bn (up 9% YoY), NNM €2.1bn, TFAs
stable QoQ (a €80bn), strong CIB performance (advisory and lending)
Revenues over €700m (up 2% QoQ), with fees and NII stable at high levels
(€205m and €373m respectively)
Net profit in 4Q €191m, with CoR at 37 bps,
despite provisions for financial assets linked to market volatility

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