FinecoBank SpA (MIL:FBK)
€ 14.925 0.01 (0.07%) Market Cap: 9.12 Bil Enterprise Value: 7.44 Bil PE Ratio: 10.07 PB Ratio: 4.15 GF Score: 86/100
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Q3 2023 FinecoBank Banca Fineco SpA Earnings Call Transcript

Nov 07, 2023 / 01:00PM GMT
Release Date Price: €11.35 (-2.78%)
Operator

Good afternoon, this is Chorus Call conference operator. Welcome and thank you for joining the FinecoBank Third Quarter 2023 Results Conference Call.

(Operator Instructions) At this time, I would like to turn the conference over to Mr. Alessandro Foti, CEO of FinecoBank. Please go ahead, sir.

Alessandro Foti
FinecoBank Banca Fineco S.p.A. - CEO, GM & Executive Director

Good afternoon, everyone. And thank you for joining our third quarter 2023 results conference call. Adjusted net profits in the first 9 months of 2023 was equal to EUR 454.2 million up by 50.1% year-on-year, and by 68.4% excluding first 9-month 2022 profits from treasury management.

Adjusted revenues at EUR 916.7 million, increasing by 34% year-on-year and mainly supported by net financial income, which is sustained by our clients very sticky and valuable transactional liquidity and by investing, thanks to the volume effects and the higher control of the value chain by Fineco Asset Management.

Operating cost, well under control, $215.8 million, increasing by 4.8%

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