1Q21 results
11 May 2021
Key highlights
Corrado Passera, CEO
1
-
makes us more | |||||||||
confident on our expectations for significant profit | Data in €mln | 12.6 | |||||||
growth for 2021 | |||||||||
10.3 | |||||||||
9.5 | |||||||||
, +34% yoy | 6.8 | ||||||||
4.5 | |||||||||
to 67% from 75% at | 2.1 | ||||||||
the end of 2020 | |||||||||
confirms to be | |||||||||
with NPE ratios declining further | (5.9) | (5.4) | |||||||
(6.8) | |||||||||
and 18% pro-forma(1); | |||||||||
exceeding | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 |
2 |
Notes: (1) Including special shares amounting to €14.4mln.
-
in 1Q21 with strong contribution from loans with | ||
SME | . Additional | in |
Turnaround | ||
SME |
and further | |
DCIS | . Limited investment activity in line with typical seasonality |
in customer numbers both in | and | (first | |
Direct | time pro-rata equity consolidation) | ||
bank |
of first SGR fund , contribution fund dedicated to Unlikely To Pay loans to SMEs
3
-
Originated Business(1) | Originated | Terms | Advanced | |||
1Q21 | Business (2) | agreed(3) to | ||||
Data in €mln | pipeline(4) | |||||
in April 2021 | be signed | |||||
Customer loans where not otherwise stated | ||||||
Non accounting figures | ~137 | ~87 | ~97 | ~443 | ||
Cross-over | Strong business origination | |||||
63 | ~51 | ~33 | ~70 | mainly with public guarantees, | ||
& Acq. Finance | ||||||
a trend set to continue for the | ||||||
SME | Turnaround | 15(5) | ~28 | ~62 | ~117 | whole of 2021 |
Division | Factoring turnover | 199 | ~52 | Net customer loans as of | ||
31 March 2021 €157mln | ||||||
Distressed Credit | 47(5) | ~8 | - | ~213 | Seasonally soft start in 1Q21, | |
portfolio investments to | ||||||
Investments | ||||||
DCIS | accelerate throughout the | |||||
Senior Financing | 12 | - | ~2 | ~43 | ||
year based on robust pipeline | ||||||
Division | ||||||
Servicing GBV(6) | 276 | 18 | - | ~1,300 | Total AUM(7) as of | |
31 March 2021 €9bn | ||||||
Notes: Non accounting figures; (1) This aggregate includes SME loans granted/purchased, purchased distressed credit investments booked, senior financing loans granted in the period. (2) This aggregate includes SME loans granted/purchased, purchased distressed credit investments booked, senior financing loans granted in the period and the value of the deals signed but yet to be booked in the period, owing to a settlement structure based on multiple tranches or to a time lag between the signing of the master agreement and the date of loan disbursement/onboarding. (3) Deals in final stage of the formalization of the agreement/contractual terms; (4) Specific business opportunities for which the bank envisages there is a reasonable expectation to close the transactions in the forthcoming months; (5) It also includes financial instruments, such as quasi- equity instruments which are accounted for in the balance sheet item "20. c) Other financial assets mandatorily at fair value" for accounting purposes; (6) The AUM of the servicing unit includes the gross book value of 4 distressed credit and the value of property and capital goods managed by neprix acquired in the period, including a portion of portfolios related to senior financing transactions; (7) The AUM of the servicing unit, in terms
of gross book value of distressed credit and value of property and capital goods managed by neprix recorded as of 31 March 2021, net of collections and portfolio disposals.
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illimity Bank S.p.A. published this content on 11 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2021 05:23:03 UTC.