UniCredit closed the third quarter with better results than expected and is preparing to close “the best year ever”. The Group’s number one announced this during the conference call on the results of the first nine months of the year. Also announced was an interim dividend for 2025 to be distributed on November 26.
The numbers for the first nine months
UniCredit closed the first nine months of the year with an overall net profit of 8.7 billion euros, higher than expected and up 12.9% compared to the first nine months of the previous year. Return on tangible equity (RoTE) stood at 21.7%.
For the quarter, net profit stood at 2.6 billion euros, higher than the company’s consensus and up 4.7% compared to the previous year. Return on tangible equity (RoTE) stood at 19.1%.
Net revenues stood at 6.1 billion in the 3rd quarter, up 1.2% compared to the previous year, including net interest income (NII) of 3.4 billion euros, down 2.7% quarter-on-quarter and 5.4% year-on-year. Insurance management commissions and net income grew 0.3% quarter-over-quarter and 7.6% year-over-year, driven in part by high investment commissions.
Guidance 2025 confirmed
The Group confirmed its guidance for 2025 net profit at around 10.5 billion euros, subject to any “managerial actions to benefit the fiscal years 2026 and 2027”.
“We are on track to deliver our best year ever,” commented UniCredit CEO Andrea Orcel, adding, “by accelerating our strategy and deploying excess capital to create value, we have improved our trajectory as an industry leader in earnings and shareholder distribution. These results reflect the discipline in executing our strategy, and I am confident that we will continue to build sustainable value for all stakeholders”.
Medium-term ambitions remain unchanged, with a 2027 net profit expected to exceed 11 billion euros, RoTE above 20%, and double-digit growth in EPS and DPS (dividend) in the period 2024-2027.
However, the Group’s number one anticipated that, with the 2025 annual results, details on the next three years will be provided, but “there will not be an Investor Day”. “We are more optimistic than we were when we designed our phase two of UniCredit Unlocked 2025-27,” added Orcel.
The creation of value for shareholders confirmed
In line with UniCredit’s commitment to creating value for shareholders, the total distribution for the 2025 financial year is confirmed at or above 9.5 billion euros, of which at least 4.75 billion euros in the form of cash dividends. The Board of Directors therefore approved a resolution to distribute an interim dividend to shareholders for a total amount of 2.2 billion euros, equivalent to a dividend per share (DPS) equal to 1.4282 euros per share, to be paid on November 26th.
