Earnings Call Summary | UNICREDIT SPA UNSPON ADR EACH REP 0.5 ORD SHS(UNCRY.US) Q1 2024 Earnings Conference
Earnings Call Summary | UNICREDIT SPA UNSPON ADR EACH REP 0.5 ORD SHS(UNCRY.US) Q1 2024 Earnings Conference
The following is a summary of the UniCredit S.p.A. (UNCRY) Q1 2024 Earnings Call Transcript:
以下是聯合信貸銀行(UNCRY)2024年第一季度業績電話會議記錄摘要:
Financial Performance:
財務業績:
UniCredit reported net revenues of €6.3 billion, up 7.5% year-on-year, with net profit of €2.6 billion.
Improved cost-to-income ratio to 36.2%.
Earned a record return on tangible equity at 13%.
Earnings Per Share (EPS) saw a significant increase of 42%.
Fees led to a top-tier fee-to-revenue ratio.
Tangible book value per share rose by 25% year-on-year.
Liquidity ratios remained strong with LCR above 140% and NSFR above 125%.
Cost of risk remained low at 10 basis points.
Profit before tax rose 18% in Italy and 24% in Germany.
聯合信貸銀行公佈的淨收入爲63億歐元,同比增長7.5%,淨利潤爲26億歐元。
成本收入比率提高到36.2%。
有形資產回報率創歷史新高,爲13%。
每股收益(EPS)大幅增長了42%。
費用導致了最高的費用收入比率。
每股有形賬面價值同比增長25%。
流動性比率保持強勁,LCR超過140%,NSFR超過125%。
風險成本仍然很低,爲10個點子。
意大利的稅前利潤增長了18%,德國增長了24%。
Business Progress:
業務進展:
UniCredit saw its 13th consecutive quarter of profitable growth.
Transformation plan, UniCredit Unlocked, continues to be successful.
Expanding fee base and improving earnings quality for sustained top-line growth.
Plans to exceed mid-term guidance with strong growth in EPS, DPS, and tangible book value per share.
Maintained focus on improving asset quality and coverage, thereby increasing net revenues and reducing their volatility.
Strong focus on cost management, reducing overall costs by €170 million quarter-on-quarter.
Partnership with Alpha Bank in Romania and Greece started strong, servicing over 5.5 million POS transactions per day in 2023.
Commitment to pursue growth through internalizing processes and capturing more market share.
UniCredit S.p.A. remains confident in offering strong growth of EPS, DPS, and profitability across a three-year period.
Expects to return half of current market cap to shareholders in the next three years if excess capital cannot be productively deployed.
UniCredit Unlock strategy has proven to offer growth, profitability, and distribution potential.
Investing heavily in IT for improvements in cybersecurity, client experience, data, and cloud infrastructure.
Any future acquisitions will align strategically and present favorable POS synergies, compared to ongoing share buyback.
The capital return plan set to conclude by the end of 2027.
Operational improvements to boost their M&A strategy, making it possible to effectively integrate and enhance operations of their acquisitions.
聯合信貸銀行連續第13個季度實現盈利增長。
UniCredit Unlocked的轉型計劃繼續取得成功。
擴大費用基礎,提高收益質量,實現收入持續增長。
計劃超越中期預期,每股收益、DPS和有形賬面價值強勁增長。
繼續專注於改善資產質量和覆蓋範圍,從而增加淨收入並降低其波動性。
高度關注成本管理,使總成本同比減少1.7億歐元。
與羅馬尼亞和希臘阿爾法銀行的合作關係開始強勁,2023年每天處理超過550萬筆POS交易。
承諾通過內部化流程和佔領更多市場份額來追求增長。
UniCredit S.p.A. 仍然有信心在三年內實現每股收益、每股收益和盈利能力的強勁增長。
如果無法有效部署多餘的資本,預計將在未來三年內將當前市值的一半返還給股東。
事實證明,UniCredit Unlock策略可提供增長、盈利能力和分銷潛力。
對 IT 進行大量投資,以改善網絡安全、客戶體驗、數據和雲基礎架構。
與正在進行的股票回購相比,未來的任何收購都將在戰略上保持一致,並帶來有利的POS協同效應。
資本回報計劃定於2027年底結束。
改善運營以促進他們的併購戰略,從而有可能有效地整合和加強收購的運營。
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