9M 2014 Results

Net income: 247 million euro
Assets under administration: 63 billion euro
Banca Mediolanum net inflows into Mutual Funds: 3,500 million euro
Interim dividend: 0.15 euro per share

The Board of Directors of Mediolanum S.p.A. met today in Basiglio (MI) and approved the Consolidated Interim Financial Statements as at September 30, 2014, as well as the Separate Financial Statements for Mediolanum S.p.A. as at the same date, and based on the latter, resolved to distribute an interim dividend of 15 eurocents per share before any withholding tax. The dividend will be payable November 26, 2014 (ex-dividend date November 24, 2014; coupon No. 29)*.

The CONSOLIDATED GROUP RESULTS for the first nine months confirm the steady increase in the most important of the recurring revenues, management fees, whose excellent result more than compensated for the expected decrease in net interest income. Following the announced launch of a number of new development projects, especially in the technology area, G&A expenses were significantly higher compared to the same period of 2013 as forecasted.

As proof of the aforementioned:

• Group Net Income for the first half-year was at 246.9 million euro, -18% with respect to the same period last year, mainly due to the development projects.
• Total Assets under Administration went up to 62,972 million euro, an increase of 14% with respect to September 30, 2013, and 9% with respect to the beginning of the year.
• The Common Equity Tier 1 Ratio was 18.08% as at September 30, 2014.

In greater detail, with reference to Banca Mediolanum:

• Total Net Inflows were positive at 2,977 million euro, +68% with respect to the same period last year. Net inflows into mutual funds (including those through Unit-linked policies) were particularly noteworthy, reaching 3,500 million euro;
• The number of Financial Advisors as at September 30, 2014 totalled 4,399;
• There was a total of 1,072,625 customers as at September 30, 2014;
• The number of Current accounts and Deposit accounts was approximately 764,100 as at September 30, 2014, with an increase of 7% with respect to the same date last year, and of 3% since the beginning of the year.

Highlights in particular with respect to Banca Esperia:

• Net Income was at 8.7 million euro (4.4 million euro for Mediolanum’s share), compared to 1.1 million euro registered in the same period in 2013.
• Assets under Administration totalled 15,938 million euro (7,969 million euro for Mediolanum’s share), an increase of 6% with respect to September 30, 2013, +4% since the beginning of the year.

With reference to the Foreign Markets:

• Net Income came in at 8.9 million euro, posting a decrease of 47% with respect to the first nine months of 2013, due to investments for the development of business in Germany, and especially to significant capital gains realised in Spain in 2013;
• Assets under Administration totalled 3,265 million euro, a growth of 23% with respect to September 30, 2013 and 16% since the beginning of the year.

 

In an effort to provide more complete disclosure about the results as at September 30, 2014, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by 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 financial information contained herein will be made available on the at the authorised storage service 1info (http://www.1info.it/) and on www.mediolanum.com under Investor Relations > Dati Finanziari > Presentazioni.
The Group and Separate Interim Financial Statements for Mediolanum S.p.A. as at September 30, 2014 will be available according to the terms set by law at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website www.mediolanum.com and on the authorised storage service 1info (http://www.1info.it/).

Attachments:

• Consolidated Balance Sheet as at September 30, 2014
• Reclassified Income Statement as at September 30, 2014
• Segment Report by Division as at September 30, 2014

Basiglio - Milano 3 City, November 13, 2014

* Pursuant to Art. '83-terdecies' of Leg. Decree no. 58 of February 24, 1998 (TUF) the legitimacy of the interim dividend payment is determined by the account information registered by the intermediary referenced in Art. '83-quater' TUF as at the end of the "record date" November 25, 2014.

Contacts: Media Relations Rosamaria Salatino Tel +39 02 9049 2027 e-mail: rosamaria.salatino@mediolanum.it

Investor Relations Alessandra Lanzone Tel +39 02 9049 2039 e-mail: investor.relations@mediolanum.it

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