The Board of Directors of Cassa depositi e prestiti Spa (Cdp) today approved the draft financial statements, the consolidated financial statements at 31 December 2017 and the consolidated non-financial statement of the Cdp Group 2017 pursuant to Legislative Decree 254/2016. The draft financial statements will be submitted for approval to the Shareholders' Meeting scheduled for 23 May and 20 June 2018, respectively on first and second call (instead of 16 May 2018, as previously communicated). For the president Claudio Costamagna and the managing director Fabio Gallia this is the last balance sheet of the three-year period that saw them in office, before new appointments which will come with the next government.
RESOURCES MOBILIZED IN 2017 AND ADVANCEMENT OF THE INDUSTRIAL PLAN
Resources mobilized by the CDP Group
The 2017 results confirm the central and promotional role played by the CDP Group in supporting the Italian economy. The mobilized and managed resources by the Group amounted to approx €33,7 billion, for a total of total investments activated equal to €58bn (with a multiple of 1,7x), mainly through loans, investments and guarantees. The amount of resources mobilized resulted in growth about Present in several = 20% compared to the previous year e fully online with progress goals provided for in Industrial Plan 2016-2020. The resources mobilized were thus allocated
- €15,9bn atinternationalization of Italian companies (+ 12% compared to 2016; €17,7 billion of activated investments);
- €11,2bn companies (+ 29% compared to 2016, € 26,2 billion of investments activated);
- €6,3bn to Public bodies and infrastructures (+19% compared to 2016 - of which only the infrastructure segment +89%; investments activated equal to € 13,9 billion);
- €0,3bn al real estate sector (+ 43% compared to 2016, € 0,3 billion of investments activated).
Resources mobilized by the Parent Company CDP Spa
The contribution of the Parent Company CDP SpA alone to the resources mobilized and managed was equal to almost €19bnin growth beyond Present in several = 21% compared to 2016, with over € 41,5 billion of activated investments (with a multiple of 2,2x). Resources have been directed in favor of the engines the economical progress of the country. Indeed, CDP confirms itself as a key operator in support of:
- of the territoriesby financing the Public entities and the works in the infrastructure sector, transport and telecommunications (€6,3 billion);
- of the companies, funding the innovation, supporting the national production system, even in the territories affected by natural disasters, and contributing to the recovery of the economy (€ 9 billion);
- ofinternationalization, favoring the Italian exports abroad (€ 3,4 billion);
- of the real estate sectorby promoting the social housing, the smart housing, development of public real estate and the tourism sector, parallel to a strategy of reorganization interventions aimed at recovery and disposals (€ 0,2 billion).
FINANCIAL RESULTS 2017
Parent company CDP Spa
- THENet income turned out to be approximately €2,2bn, in the absence of extraordinary components, confirming the trends di strong growth started in 2015 (+ 33% compared to 2016; + 147% compared to 2015). The trend in profit was positively affected by theincrease in the interest margin and lower cost of risk, both on loans and on investments in equity.
- Il interest margin stood at approx €3,0bnin notable increase compared to the previous year (+ 25%), despite a still unfavorable market interest rate context. The increase in the interest margin was obtained both thanks to the improvement in the return on interest-bearing assets and the reduction in the cost of liabilities, following a active management of the ALM and treasury.
La performance economic has also made it possible to strengthen financially alcune controlled of CDP, increasing the undistributed profit to the Parent Company. This trend led to a decrease in dividends received in 2017, which amounted to €1,4 billion (€1,6 billion in 2016).
The total ofactive it positioned itself at approx €367,3bn, up 2,7% on the previous year:
- the stock of liquid assets ha reached up €175,3bn approximately (+8,3% compared to 2016), due to higher short-term investments;
- the stock of loans to customers and banks, equal to €101,8 billion, has risen to €123,1bn approximately (+1,7% compared to 2016) including the commitments to disburse as a result of the new agreements on infrastructure, businesses and internationalisation;
- The wallet of debt securities stands at €48bn, showing a slight decrease compared to 2016 (-1,9%), with a simultaneous reduction in the average duration of the securities;
- Le shareholdings and shares recorded a value equal to €32,3bnin slight bending compared to the previous year (-0,8%), mainly as a result of some rationalization of subsidiaries.
Al passive:
- la total collection was an increase compared to 2016 and equal to €340,5bn (+2,6%). There postal collection showed one stock up and equal to € 252,8 billion (+ 0,8% compared to 2016). There bond collection increased significantly compared to 2016, reaching €17,5 billion (+51,6%), thanks to the effective diversification of funding sources, in line with plan ambitions (DIP program issues, Social Bonds, etc.) . There is also a slight increase other collection sources, equal to €70,3 billion (+1,1% compared to 2016).
- Il net assets continued the path of strengthening, reaching €24,4bn (+1,2 billion compared to 2016).
CDP group
- Il Net income of Group was strongly positive and equal to €4,5bn (€ 1,2 billion in 2016), thanks both to the significant contribution made by the result of the Parent Company, whose relevant profit was equal to €2,9bn (€ 0,2 billion in 2016), and those of investee companies.
- Il interest margin it is attested to €2,8bn (+ 31% compared to 2016).
The consolidated financial statements closed with a total ofactive slightly up on the previous year and equal to € 420 billion, (+ 2,2%). The liquid assets they have reached i €178,8bn (+ 8,1% compared to 2016).
Il net assets consolidated and further strengthened, settling at €35,9bn (€ 35,8 billion in 2016), of which €23,1bn di Group (+ € 0,4 billion compared to 2016).
