Q4 2024 Banca Mediolanum SpA Earnings Call (English, Italian) Transcript
Key Points
- Banca Mediolanum (FRA:ME1) achieved record-breaking total net inflows of EUR10.4 billion, with EUR7.6 billion in managed assets.
- The company surpassed the EUR1 billion net income milestone, reaching EUR1.12 billion, a 36% increase from 2023.
- Operating margin saw a double-digit increase to EUR1.1 billion, reflecting strong operational performance.
- The cost-to-income ratio improved to 39%, driven by stronger top-line growth and higher recurring fees.
- The company proposed a EUR1 dividend per share, including a special dividend due to extraordinary performance fees.
- Net interest income is expected to decrease by about 5% in 2025 due to changes in the yield curve.
- The equity component of managed assets slightly declined, now standing at 58%, due to a shift towards fixed income funds.
- Provisions for risk and charges increased significantly, partly due to a drop in interest rates affecting severance pay provisions.
- The company anticipates a decline in CET1 ratio by about 2 percentage points due to the implementation of Basel 3 regulations.
- The acquisition costs to gross commission ratio saw a modest uptick, driven by higher bonuses from increased inflows into managed assets.
Good day and thank you for standing by. Welcome to the Banca Mediolanum full-year 2024 results conference call. At this time, all participants are on listen-only mode. After the speakers' presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to Alessandra Lanzone, Head of Investor Relations. Please go ahead, madam.
Thank you. Thanks for joining us today to go over the highlights and the results of 2024. It's been a year of amazing achievement as a matter of fact. Before we dive in, just a quick reminder. To ask your questions in the Q&A session, following the language of the line you're calling from. Responses will be provided in Italian with a simultaneous translation in English.
Up next, I'm pleased to introduce our CEO, Massimo Doris, who will guide us through the presentation today. And joining him is our CFO, Angelo Lietti.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
