Unicredit It closes 2024 with a net profit of 9.3 billionincreased by 8.1% compared to the previous year, beating the estimates of the Consensus. The net accounting profit is 9.7 billion (+2%). The Rote reached 21%. THE revenues They grew to 24.2 billion, growing 4%, driven by commissions of 8.1 billion, up 8%. The interest margin rose by 3% to 14.4 billion. At the end of 2024, the CET1 ratio is 15.9%unchanged compared to last year “despite – underlines the bank – strategic investments and major distributions, demonstrating the continuous high organic capital generation of capital of 12.6 billion”.
For 2027 net useful goal of about 10 billion
For 2027 Unicredit has set the goal of a net profit of about 10 billiontogether with a Rote greater than 17% and an organic generation of average capital in the period 25-27 substantially in line with profit. All these factors allow you to aspire to one Distribution by year In the period 25-27 major of the one worth on 2024, of which you divide equal to 50% of the net profit and additional distributions that include excess capital compared to a CET1 ratio of 12.5-13%.
The group presented his Financial Guidance for 2025of a net profit and a wheel substantially in line with 2024, “despite the less favorable macroeconomic scenario” net revenues are expected to over 23 billion, with a moderate reduction year on the year of the margin of interest in 2025, which reflects The expectations of a context of minor interest rates and further compression of Russia. The bank expects the operating costs to stand at around 9.6 billion, “reflecting the largest perimeter of the group, or that they are slightly in decline year on year with the same perimeter, resulting in a cost/revenue ratio of about the 40%”.
To shareholders 9 billion for 2024
The total distributions on the 2024 exercise increased to 9 billion, of which 3.7 billion in dividends For a total DPS to validate on 2024 equal to 2.4 euros, up 33%. The distributions relating to 2025 are expected to increase compared to those relating to 2024, with a dividend increased to 50% of the net profit (from 40%). In November there is a payment of a deposit on the dividend relating to 2025 for an amount equal to 45% of the total dividend expected for the year (increased by 40% in 2024).
Orcel: in 2024 best net accurate profit an annual accounting of all time
“Three years ago we announced Unicredit Unlocked With financial objectives that many judged too ambitious. Today we have widely overcome each of those goalsby overlapping in each metric including profitability and distribution objectives, and we are entering the next phase of our strategy, “he said Andrea OrcelCEO of Unicredit. In this phase we will accelerate our growth, aspiring to further expand the distance from our competitors, we will close the gap that separates us in terms of evaluation, consolidating Unicredit as the bank for the future of Europe and like the reference point of the banking sector. We concluded 2024 with a solid fourth quarter, to crown sixteen quarters of profitable and quality growth, and with our best annual accounting profit of always € 9.7 billion, with net profit excluded the DTA in 9% rise compared to last year. The net profit below stood at € 10.3 billion net of the shares aimed at guaranteeing future profitability. The wheel in the FY24 was equal to a solid 17.7%, or 20.9%on a 13%CET1 ratio, supported by greater net revenues, a cost/revenue ratio among the best in the sector, and an excellent efficiency of the capital with an organic capital generation of € 12.6 billion.
From 2025 increase dividing to 50% of the profit
“We intend to increase distribution to shareholders At € 9 billion for 2024, after obtaining the related authorizations, Orcel continued. As further proof of our generous distribution policywe are increasing the dividend to 50% of the profit net starting from 2025. Our case ofstand-alone investment, based on growth and distributionit is convincing thanks to an attractive geographical diversification, a customers and a quality business mix, while our defense lines guarantee us protection and our distinct initiatives will achieve ever better results “.
“We will continue to demonstrate Excellent financial performances and value creation for shareholders. Any inorganic growth must improve our standard investment case and respect our rigorous financial and strategic criteria. The macroeonomic and geopolitical context remains complicated and unpredictable. We are in any case extremely well positioned to absorb a normalization of interest rates, the cost of risk and costs inflation. Our diversification, together with management initiatives, integration costs and already set aside overlays gives us a significant advantage. This will allow us to maintain a solid profitability and distribution. Finally, a profound thanks to colleagues for their hard work and dedication to all our stakeholders. I am proud of your successes while we build the bank together for the future of Europe “.
