Banca Mediolanum (LTS:0RDO)
€ 10.97 0.05 (0.46%) Market Cap: 8.06 Bil Enterprise Value: 8.00 Bil PE Ratio: 8.83 PB Ratio: 2.08 GF Score: 68/100
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Q2 2019 Banca Mediolanum SpA Earnings Call Transcript

Jul 31, 2019 / 02:00PM GMT
Release Date Price: €6.46 (-0.08%)
Alessandra Lanzone
Banca Mediolanum S.p.A. - Head of IR

Good afternoon, everyone, and welcome to our first half results presentation. Our CEO, Massimo Doris, will lead the presentation today; and our President, Ennio Doris; and our CFO, Angelo Lietti will join the Q&A session.

So let's get started. And now over to you, Massimo.

Massimo Antonio Doris
Banca Mediolanum S.p.A. - CEO & Director

Thank you, Alessandra. The results we are presenting today are what we would call outstanding in a challenging environment and are clear evidence that we are increasingly seeing benefits from the multitude of actions we've put into place over the past couple of years that impact both the top line as well as the bottom line. More importantly, we continue to deliver what we said we would deliver and are one step further on the virtual circle of growth we are pursuing to boost operating leverage.

Having said that, net income for the half year came in at a solid EUR 171.3 million, with a significant 41% gain in the operating margin. This turned out

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