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Banca Mediolanum (BNCDY)
OTHER OTC:BNCDY
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -1.64%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Banca Mediolanum's strong financial performance, with record net income and significant growth in managed assets and customer acquisition. However, concerns about regulatory impacts and increased funding costs pose challenges. Despite these lowlights, the overall outlook remains positive with strong market positioning and strategic growth initiatives.Company Guidance
During Banca Mediolanum's Q3 2024 earnings call, the company provided guidance on several key financial metrics, highlighting a strong performance and positive outlook. Net income reached EUR 674.3 million, marking an 18% increase compared to the same period last year, with Q3 alone contributing EUR 224.4 million. Net interest income remained robust at over EUR 630 million, despite initial ECB rate cuts, and is projected to grow by 8% in 2024. The bank's net commission income experienced a significant 13% rise, totaling over EUR 874 million, with recurring fees hitting a record EUR 1.13 billion, up 14.5%. The operating margin soared to EUR 848 million, a 16% increase, while the cost/income ratio improved to 38.3%. Total net inflows over the first nine months were EUR 7.16 billion, a 28% increase, with managed assets contributing EUR 5.44 billion. The company's CET1 ratio stood strong at 23.4%, and an interim dividend of EUR 0.37 per share was announced. With a positive market outlook and strategic promotional efforts, Banca Mediolanum anticipates maintaining strong inflows and leveraging higher commission income to offset potential net interest income reductions in 2025.Record-Breaking Financial Performance
Net income reached EUR 674.3 million, exceeding last year's 9-month results by 18%. Q3 alone reported EUR 224.4 million, with a significant double-digit growth in net commission income up 13% to over EUR 874 million.
Strong Asset Under Management Growth
Managed assets achieved a notably positive trend, reaching EUR 5.44 billion, almost doubling last year's figure, and total net inflows marked a 28% increase for the 9 months.
Customer and Digital Channel Expansion
Record acquisition of 149,000 new bank customers, a 7% increase, with the digital channel Selfy contributing 21,200 new customers, a 5% increase.
Positive Market Conditions and Net Inflows
Market effects contributed to net income with positive mark-to-market and performance fees totaling EUR 51 million compared to a negligible amount last year, and total assets surged to EUR 133 billion, a 13% increase.
Strong Performance in Spain
Net income in Spain grew by 10% to EUR 54.4 million, with total assets increasing by 15% and managed assets by 22%.
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BNCDY 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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BNCDY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $24.13 | $24.34 | +0.87% |
| Aug 01, 2024 | $23.07 | $21.70 | -5.94% |
| May 09, 2024 | $22.02 | $22.16 | +0.64% |
| Feb 08, 2024 | $19.82 | $20.10 | +1.41% |
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 Banca Mediolanum (BNCDY) report earnings?
Banca Mediolanum (BNCDY) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Banca Mediolanum (BNCDY) earnings time?
Banca Mediolanum (BNCDY) earnings time is at Feb 06, 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 BNCDY EPS forecast?
Currently, no data Available
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