Banca Ifis (FRA:0I6)
€ 19.71 -0.16 (-0.81%) Market Cap: 1.04 Bil Enterprise Value: 3.47 Bil PE Ratio: 6.41 PB Ratio: 0.59 GF Score: 65/100
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Q3 2020 Banca IFIS SpA Earnings Call Transcript

Nov 06, 2020 / 08:00AM GMT
Release Date Price: €7.29 (-1.95%)
Operator

Good morning. This is the Chorus Call conference operator. Welcome, and thank you for joining the Banca IFIS' 9-Month 2020 Results Conference Call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Luciano Colombini, CEO of Banca IFIS. Please go ahead, sir.

Luciano Colombini
Banca IFIS S.p.A. - CEO, MD & Director

Good morning. Welcome, everybody, to our call. Yesterday, the Board of Directors under the chairmanship of Mr. Sebastien Egon Fürstenberg approved our first 9 months 2020 results.

Before going into the results, I would like to confirm our guidance. despite the second wave of COVID-19. In 2020, we expect to achieve net income in the upper range of our guidance of EUR 50 million to EUR 65 million. Banca IFIS profitability proved to be resilient with all the 3 quarters of 2020 profitable. In third quarter 2020 and 9-month 2020, we achieved a net income of EUR 16 million and EUR 52 million, respectively. This reflects Banca IFIS' business model, which focuses on profitable market niches that are

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