H1 2009 Results Presentation

Net income: 108 million euro, +53%
Assets under administration: 33 billion euro
Banca Mediolanum net inflows: 2,008 million euro, +77%
of which managed assets: 795 million euro, +37%

The Board of Directors of Mediolanum S.p.A. met today in Basiglio (MI), and approved the Consolidated Financial Statements as at June 30, 2009.

CONSOLIDATED GROUP RESULTS show a clearly positive trend, thanks to the record net income of the second quarter, which came in at 91 million euro.
This result was made possible by the change in the trend in the financial markets that has been in play since April, but above all by the strong net inflows of the Group, registering a positive 2,116 for the first half.

In light of the aforementioned:

• H1 Net income was at 108 million euro, an increase of 53% compared to the result for the same period last year.
• Assets under Administration totalled 33,018 million euro, increasing 12% since the beginning of the year, and 3% compared to June 30, 2008.

With specific reference to the DOMESTIC MARKET (Net Income and Assets include Banca Esperia for the 50% share pertaining to the Group), the following results were registered:

• Net Income was at 111.8 million euro, an increase of 51% with respect to the same period last year;
• Assets under Administration grew by 13% since the beginning of the year and by 5% with respect to June 30, 2008, totalling 31,351 million euro.

It should be highlighted that Banca Mediolanum registered significant business progress.

• Net Inflows, coming in at 2,008 million euro in total, registered a jump of 77% with respect to an already strong first half last year. The strong increase in Net Inflows into Managed Assets is particularly noteworthy, positive at 795 million euro, +37%.
• The success of the launch of the ‘Freedom’ account at the end of March deserves particular attention, registering total inflows of 2,880 million euro in just three months.
• The number of Licensed advisors decreased slightly compared to both June 30 (-1%) and December 31, 2008 (-2%), counting 4,967 advisors; with an additional 528 non-licensed advisors waiting to take the licensing exam.
• There was a total of 1,092,000 customers as at June 30, 2009, an increase of 2% compared to June 30, 2008.
• There was a total of 572,800 bank accounts as at June 30, 2009, an increase of 24,500 with respect to June 30, 2008, +4%.

Highlights in particular with respect to Banca Esperia:

• Net Income was at 1.8 million euro (0.9 million euro for Mediolanum’s share), a decrease of 73% compared to June 30, 2008.
• Assets under Administration grew by 6% with respect to December 31, 2008 (-2% compared to June 30, 2008) reaching 8,579 million euro (4,290 million euro for Mediolanum’s share).

With reference to the FOREIGN MARKETS:

• The Net Economic Result was a negative 4.1 million euro.
• Assets under Administration totalled 1,666 million euro, up 1% with respect to the end of the year (-25% compared to June 30, 2008).

 

In an effort to provide more complete disclosure about the results as at June 30, 2009, we have attached the segment report detailing income statement data, reclassified to reflect the criteria used by the Mediolanum Group. This reclassified segment report is not subject to audit by the independent auditors, who moreover, haven’t yet finished the audit on a limited basis of the consolidated financial statements as at June 30, 2009.
A presentation in English of the financial information contained herein will be available at the Italian Stock Exchange.
The Interim Financial Statements as at June 30, 2009 will be available at the company’s Registered Office in Basiglio - Milano 3, Palazzo Meucci - Via F. Sforza, on the website www.mediolanum.com and at Borsa Italiana S.p.A.
The Officer responsible for preparing Mediolanum S.p.A accounting documents, Luigi Del Fabbro, declares that, in compliance with the requirements of the second paragraph of section 154 bis of the Consolidated Finance Act, the financial information contained herein reflects the accounting entries, records and the books.

 

Basiglio - Milano 3 City, July 29, 2009

 

Attachments:

• Balance Sheet as at June 30, 2009
• Income Statement as at June 30, 2009
• Segment Report as at June 30, 2009

Contatti: Media Relations Roberto Scippa Tel +39 02 9049 2902 Fax +39 02 9049 2345 e-mail: gmmedia@mediolanum.it

Investor Relations Alessandra Lanzone Tel +39 02 9049 2039 e-mail: investor.relations@mediolanum.it

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