Il 2024 closes with excellent results for Cassa Depositi e Prestiti. Net income of Cdp reached a historic record of 3,3 billion euros, (the highest in the history of the company) with an increase of 7% compared to 2023, while theconsolidated net profit rose to 6 billion (+18,5%), driven by the greater contribution of the subsidiaries. committed resources by the Group increased to 24,6 billion euros (+23%), generating investments for a total of 68,8 billion (+28%) thanks to a leverage effect of 2,8 times. A result that confirms the effectiveness of the strategies implemented and the continuous commitment of Cdp towards sustainable development and innovation.
The board of directors also proposed a dividend of 2,1 billion euros, as evidence of the financial solidity and the ability to create value for shareholders. Yes also closes the three-year period 2022-2024 with CDP having largely exceeded the objectives set in the Strategic Plan.
Collection and Net Worth: Strength and Confidence
In 2024, the roverall acceptance of Cdp reached 356 billion euros, marking a 2% increase compared to the previous year. The result was possible thanks to the consolidation of postal savings, which reached 290 billion euros, and to the growth of bond collections, which rose to 20 billion euros (+10%), also thanks to the issue of the second Yankee Bond and the tenth ESG Bond. The net assets Cdp's net assets increased by 7%, reaching 30 billion euros, thanks to the profit accrued during the financial year.
During 2024, CDP continued to actively support businesses, infrastructure, Public Administration (PA) and international cooperation. The total outstanding credits rose to 126 billion euros, marking an increase of 2% compared to 2023 and 10% compared to 2021. Despite the economic context characterized by a general contraction in loans, Cdp maintained a central role, supporting loans for over 150 billion euros, with an 8% growth compared to 2021.
Commitments and investments: performance beyond expectations
Il three-year period 2022-2024 saw the Cassa far exceed the objectives of the Strategic Plan. The total resources committed reached 75 billion euros, exceeding the initial target of 15 billion by more than 65%. investments reached 202 billion, well above the forecast of 128 billion (+58%). Thanks to a leverage effect of 2,7 times, higher than the target of 2, Cdp generated profits of approximately 9 billion euros, strengthening its capital strength and contributing directly to the creation of approximately 400.000 jobs, with a positive impact on the national GDP.
In 2024 alone, the Group has therefore committed resources for 24,6 billion euros, recording a 23% increase compared to the previous year. The resources were allocated to six lines of intervention:
- Business and Finance: 14,5 billion, including 2,8 billion in guarantees to the PMI Fund and 140 direct loans for internationalization.
- Infrastructure: over 4 billion, including 1 billion for the motorway sector and 120 million for the new campus of the State University of Milan.
- Public Administration: 3,6 billion, with the involvement of over 1.200 local authorities.
- International cooperation: over 1,2 billion, of which 550 million for the Mattei Plan in Africa.
- Equity: 1,1 billion, including 286 million in the capital increase of Fincantieri.
- Royal Asset: 0,2 billion, allocated to social and student housing projects.
Sustainability: ESG objectives 100% achieved
Si The ESG Plan 2022-2024 also closes 100% achievement of objectives, exceeded in 80% of cases. Cdp has reduced the emission intensity of the portfolio by 15% compared to 2022, created 10.200 beds for student housing and over 5.100 for social housing, in addition to making 370.000 square meters safe in schools and hospitals. 93% of employees have been trained in sustainability, and 31% of top positions are now occupied by women.
The Board of Directors then the new Strategic Plan 2024-2025 approved in December 2027, which aims to consolidate CDP's role as a public and private finance platform, further strengthening its orientation towards social and environmental impact.
Scannapieco: “2024 is a historic year, a solid basis for the new plan”. And on duties: “Italy has a great capacity to react”
"The historical situation is placing Europe and Italy in front of numerous challenges, from technology to defense, from energy to climate to demographic trends. In this context, Cassa Depositi e Prestiti has demonstrated that act with responsibility and awareness" commented Giovanni Gorno Tempini, President of Cdp – “The excellent results of 2024 and of the entire three-year period of the 2022-2024 Strategic Plan are the result of the incisive actions undertaken, the progressive emergence of our corporate culture and the commitment of our employees”.
The Dario Scannapieco, CEO of CDP, underlined the importance of the results obtained: “The 2024 closes with a historic result for Cassa Depositi e Prestiti: the highest profit ever recorded confirms the positive trend of recent years which has allowed us to largely exceed all the objectives of the 2022-2024 Strategic Plan. These numbers represent a solid basis for the new Strategic Plan 2025-2027, which will see us working in synergy with the market and other institutions to increasingly be a platform of finance and skills at the service of the country".
Answering a question for the presentation of the 2024 results, Scannapieco also addressed the issue of duties imposed by the United States, which are influencing global markets. “We conducted a study to anticipate the impact of these duties, with differentiated approaches based on the different Regions. The United States represents 10,6% of Italian exports, but the Our country has a great capacity for adaptation and diversification of its markets" declared the CEO of CDP.
“The Italian system is very diversified also in terms of product” – continued Scannapieco – “we are certainly facing a moment of disruption, but Italy has always demonstrated considerable flexibility. We are ready to do our part and to support Italian companies if necessary."
