(Finance) – In the first half of the year, the CDP Group has committed resources for approximately 11.8 billion of euros, in growth of 2.6% compared to 11.5 billion in the first six months of 2023, confirming the strong support for investments in the country. The resources committed, in fact, have allowed activate a volume of Investments for 33.3 billion, up 2.8% compared to 32.4 billion in the same period of the previous year, with a 2.8 times leverage effect the resources committed.
The CDP credit stock in support of businesses, public administration, infrastructures and international cooperation has reached the 126 billion euros with a 2% increase compared to the end of 2023 and in contrast to the market trend in Italy.
There total collection it was equal to 356 billion eurosof which 287 billion deriving from the postal savings (+1% compared to the end of 2023). The bond collection stands at 20 billion (+7% compared to the end of the previous financial year), also thanks to the placement of the second bond issue in dollars (“Yankee Bond”) and the tenth ESG Bond of CDP).
The CDP SpA net worth is equal to 28 billion, slightly up compared to 2023 (27.9 billion). Net profit stabilizes at 1.8 billion euros (-0.1 billion compared to the same period last year) due to the lower contribution in terms of dividends from the Group companies. The pre-tax result for the first half of 2024 is equal to 2.3 billion, in line with that of 2023.
Consolidated net profit records a growth of half a billion to 3.3 billion euros (2.8 billion in the first half of 2023). The Total consolidated assets stands at 468 billion euros (475 billion at the end of 2023), while the consolidated net worth rises to 43.7 billion euros (41.8 billion at the end of 2023)
“In recent years we have seen our country show remarkable resilience in the face of a global scenario characterised by great uncertainty”, declared the President of Cassa Depositi e Prestiti, John Gorno Tempiniadding “in this context, CDP has been able to orient its choices by responsibly and courageously directing the available resources towards those sectors and projects that are fundamental for our economy, with a long-term perspective”.
For the Chief Executive Officer and General Manager of Cassa Depositi e Prestiti, Dario Scannapieco, “the results achieved in the first six months of 2024 represent further confirmation of Cassa Depositi e Prestiti’s ability to operate effectively in the service of the country, expanding its scope of action in Italy and abroad”.
It consolidates the support for public administrationsalso in the context of the implementation of the National Recovery and Resilience Plan (NRRP) and of the program InvestEUthrough advisory activities and management of public, national and European funds. In particular, CDP’s technical assistance activity to the Ministry of University and Research for the promotion of student housing financed with PNRR resources is highlighted.
Other notable initiatives include the consolidation of the policy of Strengthening the international role of CDP with the opening of the first non-EU locations (Belgrade, Cairo and Rabat) and the start of full operations as a resource manager of the Italian Climate Fund and other activities within the scope of Mattei Plan
As for the sustainabilityCDP has done further progress in achieving the objectives of the 2022-2024 ESG Plan, with over 70% of targets achieved ahead of schedule compared to the pre-established timeframe. On the investment front, the CDP Group, through the signatures of CDP Equity and CDP Real Asset SGR, has recently adhered to the Principles for Responsible Investment (PRI) promoted by the United Nations. Confirming the growing attention to sustainability issues, the ESG objectives component in the incentive program corporate has reached 35%, exceeding the Plan target, set at 30%. Furthermore, initiatives have been consolidated for promote ESG issues to their stakeholders: from entering the Open-es platform to involving over 4,700 girls and boys in the financial education program “Ready, finance, go!” with FEduF. A commitment confirmed by the evaluations of ESG rating agencies: Morningstar Sustainalytics placed CDP first in the world in the “Banks” and “Development banks” sector, while the ISS ESG agency, in addition to having improved the rating, awarded Cassa Depositi e Prestiti the “Prime” status, placing it above the average of its reference sector.