(Tiper Stock Exchange) – generalfinance it closed the first quarter of 2023 with a net profit of 2.9 million euros, up (+8%) compared to the first quarter of 2022 and shareholders’ equity of 54.3 million euros.
The interest margin amounted to 1.7 million euro, down (-3%) compared to the same period of the previous year, “due to the effect of the increase in the Euribor rates which had a negative effect on the cost of funding, offset by the increase volumes and the renegotiation of factoring contracts carried out in the second half of last year”. The intermediation margin amounted to 7.8 million euros (+12%) while operating costs, equal to about 3.2 million euros, increased by 15%.
THE net loans to customers they amount to 342.9 million euros, down by 11% compared to 31 December 2022.
THE capital ratios of Generalfinance – including the profit for the period net of the expected dividend, calculated taking into account a target payout of 50%, in line with the Company’s dividend policy – show the following values: 16.00% CET1 ratio; 16.00% TIER1 ratio; 19.06% total capital ratio.
The coefficients are well above the minimum regulatory values envisaged by Bank of Italy Circular 288.
Massimo Gianolli, Chief Executive Officer of Generalfinancedeclared: “The first quarter of the year showed a trend in line with the budget for the year. From a commercial point of view, we recorded a further growth in the flow of disbursements, equal to 412 million euro, +15 % compared to 2022, with net revenues up 12%; this confirms the constant growth trend, in a context of liquidity shortage for distressed companies or companies with low ratings – our customer target – which have limited access or no have access to bank credit, mainly concentrated on low-risk counterparties or state-guaranteed MLT loans.Our team is strongly committed to supporting clients and increasing turnover volumes in the coming
quarters, in line with what is defined in the Business Plan”.