Over 3 billion in profits in just one year. 2023 ended with a new record for Cassa Depositi e Prestiti. The board of directors chaired by Giovanni Gorno Tempini approved last year's budget, archived with a net profit of 3,1 billion, up 23% compared to 2,5 billion in 2022. It is also the highest level ever reached by CDP, a result achieved "also thanks to the increase in the interest margin and the greater contribution of the group companies in terms of dividends".
Cdp's 2023 accounts
THEconsolidated net profit it stood at 5 billion, down 26% (-1,8 billion) compared to the previous year. The change – explains Cdp – is mainly attributable to the effect of Eni's equity valuation. The net assets instead it rose to 27,9 billion, thanks to the profit accrued during the year, net of dividends distributed.
Moving forward with the data, the resources involved by the group in 2023 amounted to 20,1 billion, a level that allowed the activation of 53,8 billion in investments, with a leverage effect of 2,7 times, to the benefit of Italy's economic and social fabric. THE credits recorded an increase of 3% to 124 billion in favor of businesses, public administration and infrastructure.
By broadening the time horizon, in the resources committed for the two-year period 2022-23 by the Cdp group they reached a total of 50,7 billion, or 78% of the target set for the three-year period and well beyond the objectives of the 2022-24 Strategic Plan.
- activated investments they exceeded 100% of the three-year target, reaching 133,5 billion, a value equal to 2,6 times the resources committed in the period. At the end of 2023, the stock of credits increased by 8% to 124 billion, compared to 114 billion in 2021.
Finally, the collection, which last year reached 362 billion, of which 285 related to postal collections. Bond collection, on the other hand, amounts to 18 billion, an increase of 6% compared to 17 billion in 2022, "also thanks to the placement of the first Green Bond and the first bond issue in dollars by CDP (Yankee Bond)", underlines Cdp.
“The data we present today shows how the actions implemented to implement the 2022-24 Strategic Plan, in an increasingly complex international scenario, have been effective and how Cassa Depositi e Prestiti has been able to adapt to the new context and adequately carry out its role in supporting the Italian economy, also thanks to a growing closeness and strengthened dialogue with the territories”, declared the president of CDP Giovanni Gorno Tempini. “In the last two years, the resources committed by the group have exceeded 50 billion euros in favor of the entrepreneurial and social fabric and in 2023 alone our contribution to Italian growth reached 1,4% of GDP. The strong commitment to sustainable development is demonstrated, among other things, by the raising of our ESG rating by the main international agencies, which have placed CDP at the top of the global rankings. The trust of our shareholders, the Ministry of Economy and Finance and the banking foundations, with whom we operate in synergy in the interests of the country, has been fundamental in this path", he concluded
Scannapieco: “In 2022-23 our impact generated 1,6% of GDP”
“The 2023 budget results of Cassa Depositi e Prestiti demonstrate the growth of our commitment to the development of the country,” said the CEO and general director of Cassa Depositi e Prestiti Dario Scannapieco, according to which “the increase in credits to 124 billion is a consequence of the new strategy which has seen us consolidate our presence in the area. Capital strengthening and the level of profit achieved are the result of work that has made the Group even more solid and able to face the challenges we face. In its role as a stimulus to the growth of the economic system and as a catalyst for resources, the CDP group has activated investments of over 133 billion in the two-year period, already reaching the targets of the entire Strategic Plan. Our work as an Italian Financial Institution for development cooperation has led us to launch a program of opening extra-European facilities to provide concrete support to emerging economies. Today CDP has an increasingly international role, highlighted by the results obtained in the use of European funds. These results were achieved thanks to the great commitment of all the people of the Group who contributed to the creation of our corporate culture and passionately shared our long-term objectives".
“In the two-year period 2022-23, the impact of Cassa Depositi e Prestiti's activities generated approximately 1,6% of the national GDP, helping to create or maintain 410 thousand jobs”, underlined Scannapieco when presenting the 2023 budget.
