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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Q2 2023 BFF Bank SpA Earnings Call Transcript

Aug 03, 2023 / 01:00PM GMT
Release Date Price: €9.59 (-4.63%)
Operator

Good afternoon, and welcome to BFF Banking Group First Semester 2023 Earnings Call. (Operator Instructions) After today's presentation, there will be the opportunity to ask questions. (Operator Instructions) Please note, this event is being recorded.

I would like to turn the conference over to Massimiliano Belingheri, Group CEO; Piergiorgio Bicci, Vice President, CFO; and Caterina Della Mora, Director, Investor Relations, Strategy and M&A. Please go ahead.

Massimiliano Belingheri
BFF Bank S.p.A. - CEO & Director

Good afternoon, everybody. Thanks for joining us for the first half results of BFF. We are pleased to report our record first half net profit, both on a reported and adjusted basis, with almost EUR 82 million of net profit and EUR 82 million of dividends that we will pay to shareholders at the beginning of September.

Revenue has been strong, up 72% year-on-year, driven mostly by a factoring and lending by our government bond portfolio, which is mostly on floaters. And the results have been achieved despite the increase in

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