(Finance) – The general advice of Manodori Foundation (Fondazione Cassa di Risparmio di Reggio Emilia) approved the 2023 budget in profit with a surplus of approximately 3.5 million euros. The result of financial management is almost 6.7 million euros, an increase compared to 2022. A positive trend that derives from stable and recurring revenues, largely linked to the resumption of the distribution of dividends, after the block implemented by the ECB in 2020, and to optimized cost containment in recent years.
The Manodori Foundation closed 2023 with a assets of 176 million euros, 2 million euros more than the previous year. A result favored by the asset diversification process which involves the change in equity assets with further divestments and a progressive reduction in participation in UniCredit. Starting last year, the increase in the value of the stock has created favorable conditions for the Manodori Foundation to proceed with a partial sale of shares, which continued also in 2024, and which allowed it to realize over 4 million euros in capital gains.
They were investments reconfirmed in Cassa Depositi e Prestiti, Bank of Italy, long-term bonds and in local realities, such as IrenStudio Alfa, Crpa, Ifoa.
The budget also takes into account the 2.9 million euros disbursed to projects for the territory, to the national fund for educational poverty and to the one for digital development.
“We are closing a balance sheet of good management – said the president Leonello Guidetti – with a positive outcome and growth trend. The development of a portfolio monitoring system, established in recent years with the support of the advisor Prometeia, has allowed us to consolidate the diversification process started in 2018 and today increased by the performance of the stock markets”.
“The good performance of profitability and the solid provision to the fund for disbursements – continues Guidetti – allow the Manodori Foundation to guarantee support for the most urgent needs also for 2024 and to evaluate new projects and tools to promote initiatives and support the most fragile situations”.