BFF Bank SpA (MIL:BFF)
€ 8.785 0.02 (0.23%) Market Cap: 1.65 Bil Enterprise Value: 963.93 Mil PE Ratio: 6.67 PB Ratio: 1.96 GF Score: 79/100
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Q1 2020 Banca Farmafactoring SpA Earnings Call Transcript

May 08, 2020 / 10:30AM GMT
Release Date Price: €4.83 (+6.75%)
Massimiliano Belingheri
Banca Farmafactoring S.p.A. - CEO & Director

Welcome, everybody, today, and thank you for being with us. I hope you're all well and safe. We're quite pleased to report our first quarter results, which has been approved this morning by the Board, and take the opportunity also to recap where we are in the circumstances that the COVID-19 crisis has presented and the unique opportunities for our business going forward.

If you look at the presentation on Page 2, it's a summary of the highlights of our results. But first of all, we want you to remember that we have committed to pay our dividends in the second half of this year following the ECB and Bank of Italy recommendation, and therefore, we have represented in the numbers the EUR 71 million of dividend being fully available for distribution to the shareholders. Those represent EUR 0.41 per share in terms of per-share dividend.

If you look at the quarter, the quarter has a solid financial performance. We report EUR 23 million of net earnings, EUR 20.8 million of adjusted net income with a 31% adjusted ROTE,

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