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09/12/2001

The Mediolanum Group discloses the H1 2000 Final Results

Consolidated assets under administration 19,823mn Euro (+35%)
Total net inflows 1.832 mn Euro (+12%)
Consolidated revenues 866 mn Euro (+1%)



The Board of Directors of Mediolanum S.p.A. approved the company accounts and the Group consolidated accounts for the first six months of the year 2001.

With reference to Italy, the principle results were:
With respect to the controlled Fibanc in Spain:

With respect to the consolidated data, which include Fibanc:

Milan, September 12, 2001

GRUPPO MEDIOLANUM

RECLASSIFIED INCOME STATEMENT

30.06.2001

30.06.2001

30.06.2000

Euro in thousands

(*)

(**)

Premiums from insurance activities

Gross premiums written

702.002

702.002

679.152

Reinsurance ceded

(5.980)

(5.980)

(7.530)

Commission income from financial activities and other income

Underwriting commissions

27.841

27.841

58.505

Management commissions

85.867

79.072

89.522

Bank services' margin

21.754

21.237

20.868

Bank interest spread

22.130

16.205

9.993

Other commissions

11.484

2.835

2.494

Other revenues

440

250

506

Total revenues

865.539

843.462

853.511

Change in Life insurance reserves and

Service to policyholders, net of reinsurance

(575.005)

(575.005)

(593.308)

Acquisition costs, net of reinsurance

(111.388)

(105.494)

(108.689)

Overhead

(100.058)

(87.538)

(76.663)

Amortisation/depreciation and provisions

(24.840)

(16.700)

(12.909)

Net investment and asset income

22.750

22.390

36.549

Adjustments to the value of financial investments

(7.491)

(7.491)

(11.019)

Operating profit

69.506

73.625

87.472

Non-recurring extraordinary income and charges

72

-

1.570

PROFIT BEFORE TAXES

69.579

73.625

89.042

Taxes for the year

(19.136)

(18.718)

(25.587)

Profit from Minority interests

(178)

-

-

PROFIT FOR THE YEAR PERTAINING TO THE GROUP

50.264

54.907

63.455

(*) Consolidated Mediolanum Group and Fibanc Group

(**) Consolidated Mediolanum Group for the purpose of comparison with the previous year



Last update: September 12, 2001 - 15:00