(Finance) – In the first half of 2024 the group Saddle recorded a net profit consolidated amounting to 81.4 million euros, in line with the 81.1 million euros of June 2023 “without considering the capital gain deriving from the strategic partnership with the Sesa Group equal to 20 million euros gross, accounted for in March 2023”. The result for the period, therefore, net of corporate events, is positive by 0.4%.
Constantly growing uses (+4.4% compared to June 2023); improving intermediation margin which exceeded the threshold of 500 million euros in the first half of the year, reaching 527 million euros (+5.4% compared to June 2023), supported by every revenue line. interest margin continues to grow, reaching 282 million euros (+5.6%), benefiting from the positive dynamics of the trade spread and the increase in average loans.
Net revenues from services increased to €211.6 million (+1.7%), thanks in particular to the excellent performance of investment services and in general to the good commission performance recorded by all business sectors. The net result of financial activity, positive for €33.4 million, compares with €25.1 million in June 2023.
Growth of the clients115,000 more than in June 2023.
The first half of 2024 records overall growth in collection which, for the first time in the history of the group, exceeded 60 billion euros (exactly 61.2 billion euros at market values), up 16.7% compared to June 2023 and 8.4% compared to the end of 2023. This result was contributed to by the solid performance of global net inflows, which were positive for 3.7 billion euros, recording significant growth compared to the already excellent result achieved in June 2023 (equal to 2.6 billion euros) together with a positive price effect of 1.0 billion euros. The stock of qualified inflows at market values reached 26 billion euros, thanks to positive net inflows of 1.7 billion euros in the half-year, of which 1 billion euros relating to managed collection products, a particularly significant performance in light of the context of strong attractiveness of government bonds, subject to numerous placements in the period.
Direct collections net of repurchase agreements reached 18.3 billion euros, up sharply compared to the June 2023 value (+11.5%) and substantially stable compared to the start of the year (+1.1%), demonstrating the validity of the commercial development actions undertaken by the group and despite the phenomenon of transformation of direct collections into indirect collections that has characterized market dynamics in the last year, with account holders oriented towards seizing yield opportunities in the fixed income securities sector.
Solidity patrimonialsignificantly higher than the required standards: the Cet1 Ratio is equal to 13.02%, the Tier 1 Ratio is 13.27% and the Total Capital Ratio is 15.39% (they were respectively 13.41%, 13.66% and 15.24% in June 2023). The liquidity indicators are also significantly higher than the minimum limits required: LCR at 195.2% and NSFR at 140.5% (they were 197.8% and 127.7% in June 2023; the minimum threshold required for both is 100%).