11/11/2009
2.00 p.m.
9M 2009 Results Presentation
Net income: 192 million euro, +86%
Assets under administration: 37 billion euro, +20%
Banca Mediolanum net infolws: 3,530 million euro, +110%
of which managed assets: 1,212 million euro, +49%
2009 interim dividend: 8.5 euro cent 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, 2009, as well as the Separate Financial Statements for Mediolanum S.p.A. as at October 31, 2009, and based on the latter, resolved to distribute an interim dividend of 8.5 eurocents per share before any withholding tax. The dividend will become payable on November 26, 2009 (ex-dividend date November 23, 2009; coupon No. 19).
CONSOLIDATED GROUP RESULTS show a clearly positive trend, thanks in part to the very strong Net Income in the third quarter, which came in at 85 million euro. This result was made possible by the positive trend in the financial markets during the quarter that had a positive influence on performance fees and on investments at fair value; at the same time, the strengthening of the business is especially demonstrated by the strong Net Inflows of the Group, registering a positive 4,094 million for the first nine months.
In light of the aforementioned:
- Net income for the first nine months was at 192 million euro, an increase of 86% compared to the result for the same period last year.
- Assets under Administration totalled 36,894 million euro (an historic record) increasing 25% since the beginning of the year, and 20% compared to September 30, 2008.
With specific reference to the DOMESTIC MARKET the following results were registered:
- Net Income was at 197.5 million euro, an increase of 75% with respect to the same period last year;
- Assets under Administration grew by 26% since the beginning of the year and by 22% with respect to September 30, 2008, totalling 35,069 million euro.
It should be highlighted that Banca Mediolanum registered excellent progress in business.
- Net Inflows, coming in at 3,530 million euro in total, registered a jump of 110% with respect to an already strong first nine months last year. The increase in Net Inflows into Managed Assets is particularly noteworthy, positive at 1,212 million euro, +49%.
- The success of the ‘Freedom’ account launched at the end of March deserves particular attention, registering total inflows of 4,358 million euro in just over six months.
- The number of Licensed advisors remained largely stable, totalling 4,903 advisors; with an additional 498 non-licensed advisors waiting to take the licensing exam.
- There was a total of 1,093,300 customers as at September 30, 2009, an increase of 2% compared to September 30, 2008.
- There was a total of 573,000 bank accounts as at September 30, 2009, an increase of 18,260 with respect to September 30, 2008, +3%.
Highlights in particular with respect to Banca Esperia:
- Net Income was at 1.6 million euro (0.8 million euro for Mediolanum’s share).
- Assets under Administration grew by 15% with respect to September 30, 2008 reaching 9,910 million euro (4,955 million euro for Mediolanum’s share).
With reference to the FOREIGN MARKETS:
- The Net Economic Result was a negative 5.3 million euro.
- Assets under Administration totalled 1,825 million euro, up 10% with respect to the end of 2008 (-5% compared to September 30, 2008).
In light of the good results achieved so far, both in terms of net inflows and economic results, this positive course is expected to continue through the remainder of the year.
In an effort to provide more complete disclosure about the results as at September 30, 2009, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by the Mediolanum Group.
A presentation in English of the financial information contained herein will be available at the Italian Stock Exchange.
The Interim Financial Statements as at September 30, 2009 and the Separate Financial Statements for Mediolanum S.p.A. as at October 31, 2009 will be available at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website www.mediolanum.com and at Borsa Italiana S.p.A.
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 the books.
Basiglio - Milano 3 City, 11 November 2009
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