FinecoBank SpA (LTS:0QVF)
€ 15.67 0.5475 (3.62%) Market Cap: 9.46 Bil Enterprise Value: 7.20 Bil PE Ratio: 14.61 PB Ratio: 4.24 GF Score: 84/100
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Q2 2023 FinecoBank Banca Fineco SpA Earnings Call Transcript

Aug 01, 2023 / 12:00PM GMT
Release Date Price: €13.91 (-1.59%)
Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the FinecoBank Second Quarter 2023 Results Conference Call. (Operator Instructions). At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO of FinecoBank. Please go ahead, sir.

Alessandro Foti
FinecoBank Banca Fineco S.p.A. - CEO, GM & Executive Director

Good afternoon, everyone, and thank you for joining our first half 2023 results conference call. Adjusted net profit in the first half of 2023 was equal to EUR 309 million, up by 39% year-on-year and by 63%, excluding first half 2022 profit from treasury management. Adjusted revenues at EUR 601 million, increasing by 29% year-on-year and mainly supported by net financial income, which is sustained by our clients very sticky and valuable transactional liquidity and by investing, thanks to the volume effect and the higher control of the value chain by FinecoBank Management.

Operating costs well under control at EUR 144.5 million, increasing by 5% year-on-year by excluding costs

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