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Piraeus Bank Sa (BPIRY)
:BPIRY
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Earnings Data
Report Date
Feb 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.22Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 30, 2018
|% Change Since: 19.30%
|Next Earnings Date:Aug 31, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance, successful completion of a significant privatization, reduced operating costs, and plans to reinstate dividends. However, these positive aspects were slightly offset by the costs related to the privatization transaction and potential future capital impacts from state-guaranteed exposures.Company Guidance
In the first quarter of 2024, Piraeus Financial Holdings reported strong financial results, marking a significant milestone with its return to full privatization following a successful EUR 1.35 billion share offering, which saw demand reach EUR 11 billion. The bank achieved normalized earnings of EUR 0.21 per share, aligning with the full-year guidance of EUR 0.80, and a return on average tangible book of 16.5%, surpassing the 14% target. Piraeus also recorded a 10% year-on-year growth in recurring net revenue, with operating expenses reduced by 5% and a cost-to-core income ratio of 29%. The bank's asset quality remained solid, maintaining an NPE ratio of 3.5% and NPE coverage at 60%. Piraeus generated organic capital of approximately 80 basis points, reaching a CET1 ratio of 13.7% and a total capital ratio of 18.5%. Additionally, assets under management increased by 8% to EUR 10 billion, meeting the year-end target. Importantly, Piraeus plans to distribute 25% of its 2024 profits to shareholders, subject to supervisory approval, and anticipates paying a cash dividend of about EUR 80 million for 2023 results.Successful Privatization and Investor Confidence
Piraeus returned to full privatization with a successful offering of 27% of share capital held by HFSF, amounting to EUR 1.35 billion with demand at approximately EUR 11 billion.
Strong Financial Performance
Normalized earnings of EUR 0.21 per share, return on average tangible book of 16.5%, and a 10% recurring net revenue growth year-on-year.
Record Low Operating Costs
Operating expenses reduced by 5% year-on-year with a cost to core income ratio at 29%, and Q1 recorded the lowest ever operating cost at EUR 193 million.
Improved Asset Quality
Cost of risk dropped to historic low levels of 17 basis points and NPE ratio maintained at 3.5% with NPE coverage at 60%.
Organic Capital Growth
Generated organic capital of circa 80 basis points, reaching CET1 ratio of 13.7% and total capital of 18.5%.
Dividend Announcement
2024 expected to be the first year in 16 years to pay a cash dividend of about EUR 80 million for 2023 results, with a 25% distribution planned for 2024 profits.
Recognition as Climate Leader
Included for the fourth consecutive year in Financial Times' list of Europe's Climate Leaders due to a 74% reduction in carbon emissions over five years.
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BPIRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BPIRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | $3.73 | $3.83 | +2.68% |
| Jul 31, 2024 | $4.07 | $4.22 | +3.69% |
| Apr 30, 2024 | $4.12 | $3.98 | -3.40% |
| Feb 14, 2024 | $4.04 | $4.15 | +2.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Piraeus Bank Sa (BPIRY) report earnings?
Piraeus Bank Sa (BPIRY) is schdueled to report earning on Feb 24, 2025, TBA Not Confirmed.
What is Piraeus Bank Sa (BPIRY) earnings time?
Piraeus Bank Sa (BPIRY) earnings time is at Feb 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BPIRY EPS forecast?
BPIRY EPS forecast for the fiscal quarter 2024 (Q4) is 0.22.
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