BFF Bank SpA (MIL:BFF)
€ 8.98 0.195 (2.22%) Market Cap: 1.69 Bil Enterprise Value: 1.00 Bil PE Ratio: 6.67 PB Ratio: 1.96 GF Score: 78/100
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Q1 2022 BFF Bank SpA Earnings Call Transcript

May 11, 2022 / 12:00PM GMT
Release Date Price: €6.41 (+1.67%)
Massimiliano Belingheri
BFF Bank S.p.A. - CEO & Director

Thank you, and welcome, everybody, to the first quarter results presentation. A good set of results that we are reporting today. And importantly, we are reporting an environment which will be conducive of good development for the business, both from internal growth, but also from the rate environment. It is changing around that as we will see in the presentation today.

If we go through the presentation on Page 2, we're pleased to report over EUR 38 million of net profit adjusted, an increment of over 37% over the previous years including over EUR 30 million of pretax synergies, which are below the run rate of EUR 70 million for the full year, so with positive expectation for the next quarter. The performance of the business has been strong, both in the corporate center, where synergies are allocated, but also in the operating business in security services and payments, which have performed well despite the challenges of the first quarter in terms of market performance and economic slowdown. And we are showing a strong recovery in our

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