05/13/2010
12.23 p.m.
Q1 2010 Results
Assets under administration: 43,221 million euro, +47%
Net Inflows: positive at 1,813 million euro, +248%
Net Income: 66 million euro, +297%
The Board of Directors of Mediolanum S.p.A. met today in Basiglio (MI) and approved the Consolidated and the Separate Financial Statements as at March 31, 2010.
The
CONSOLIDATED GROUP RESULTS show a markedly positive trend thanks to the exceptional performance of both net inflows and the strong financial markets, which favourably influenced Management and Performance Fees.
As proof of the aforementioned:
- Net Income for the period was at 66 million euro, an increase of 297% compared to the same period last year. Profit before Tax was at 79 million euro, an increase of 270%.
- Assets under Administration totalled 43,221 million euro, an increase of 7% compared to December 31, 2009 and 47% compared to March 31, 2009.
- Net Inflows came in at a positive 1,813 million euro, an increase of 248% with respect to the first
quarter of 2009..
With reference to the DOMESTIC MARKET the following results were achieved::
- Net Incomewas at 67 million euro, with an increase of 225% with respect to the same period last year;
- Assets under Administration grew 7% with respect to the end of last year and 48% to March 31,2009, totalling 41,295 million euro.
In greater detail, with reference to Banca Mediolanum:
- Net Inflows were positive at 1,498 million euro, an increase of 210% compared to the first quarter of the previous year.
- The success of the Freedom Account launched in March 2009 deserves special mention, registering total inflows of 5,824 million euro in just over 9 months.
- The number of Financial Advisors remained substantially in line at 4,896 since the beginning of the year; there were an additional 306 non-licensed advisors waiting to take the licensing exam.
- As at March 31, 2010, there was a total of 1,100,000 customers, of which 921,000 Primary Account Holders, 7,000 more than one year prior, +3%.
- There was a total of 586,000 bank accounts as at March 31, 2010, an increase of 19,000 accounts with respect to March 31, 2009, +3%.
Highlights in particular with respect to Banca Esperia:
- Net Income was at 2 million euro (1 million euro for Mediolanum’s share), an increase of 25% compared to the same period last year.
- Assets under Administration increased 7% with respect to December 31, 2009, reaching 11,964 million euro (5,982 million euro for Mediolanum’s share), and 45% compared to March 31, 2009.
With reference to the FOREIGN MARKETS:
- The business in Spain registered a net positive result (0.3 million euro) for the quarter, while in the first quarter of 2009 there was a loss of 1.8 million euro.
- In Germany, the business closed the quarter with a loss of 1 million euro, half of the loss registered for the first quarter of 2009 (-2.1 million euro).
- Total Assets under Administration for the Foreign banking subsidiaries totalled 1,927 million euro, a growth of 26% with respect to March 31, 2009.
In an effort to provide more complete disclosure about the economic results as at March 31, 2010, we have attached a report detailing economic data reclassified by division to reflect the criteria used within the Mediolanum Group.
The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and books.
A presentation in English of the information contained herein will be available at Borsa Italiana.
The Financial Statements as at March 31, 2010 will be made available by the deadlines set by law at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website
http://www.mediolanum.com and at Borsa Italiana S.p.A.
Attachments:
Basiglio - Milano 3 City, May 13, 2010
