AI Terminal
FinecoBank
Earnings Release • Sep 5, 2024
4321_rns_2024-09-05_5dcf86ba-7f5a-4d61-ace1-8f46639a0766.pdf
Earnings Release
Open in ViewerOpens in native device viewer
| Informazione Regolamentata n. 1615-55-2024 |
Data/Ora Inizio Diffusione 5 Settembre 2024 11:07:43 |
Euronext Milan | ||
|---|---|---|---|---|
| Societa' | : | FINECOBANK | ||
| Identificativo Informazione Regolamentata |
: | 195215 | ||
| Utenza - Referente | : | FINECOBANKN02 - Spolini | ||
| Tipologia | : | REGEM | ||
| Data/Ora Ricezione | : | 5 Settembre 2024 11:07:43 | ||
| Data/Ora Inizio Diffusione | : | 5 Settembre 2024 11:07:43 | ||
| Oggetto | : | FINECOBANK_PR TOTAL NET SALES AUGUST 2024 |
||
| Testo del comunicato |
Vedi allegato
PRESS RELEASE
NET SALES CONFIRMED SOLID IN AUGUST, AUM +75% Y/Y BROKERAGE KEEPS ACCELERATING, NEW CLIENTS OVER +32% Y/Y
- August net sales at € 706 million. Asset under Management at € 275 million
- Net Sales YTD at € 6.5 billion. Asset under Management at € 2.0 billion
- FAM: August retail net sales at € 268 million, assets at € 34.0 billion
- Brokerage: estimated revenues in August at € 16 million
Milan, September 5 th, 2024
x
Total net sales in August 2024 continued at elevated levels at € 706 million (+9% from € 648 million as of last year), confirming the higher interest for investments by Fineco ever-increasing customers. The asset mix highlights a solid Asset under Management net sales component at € 275 million (+75% from € 157 million as of August 2023), while Fineco Asset Management records retail net sales at € 268 million, which has more than offset the outflows from insurance (equal to € -117 million). Asset under Custody were equal to € 287 million, and deposits were at € 144 million.
Estimated brokerage revenues equaled to around € 16 million in August (+40% compared to the monthly average of the period 2017/2019). Since the beginning of the year, estimated revenues reached around € 146 million (+13% y/y).
Alessandro Foti, CEO and General Manager of FinecoBank, commented:
"Total net sales in August, a month historically characterized by seasonality, are very solid confirming once again a consolidated tendency towards investments by our customers. Particularly positive the result of asset under management, thanks to our financial advisors' constant commitment in supporting customers in an efficient and long-term financial planning, concretely meeting their needs. August figures came along together with very positive performance of brokerage, which since the beginning of the year recorded an increase of revenues and confirmed the growth of new customers, who appreciate even more advanced advisory services, together with a wide range of solutions particularly suitable to face market turmoils."
figures in € million
| TOTAL NET SALES | AUG 2024 | AUG 2023 | JAN-AUG '24 | JAN-AUG '23 |
|---|---|---|---|---|
| Assets under management | 274.6 | 156.5 | 2,030.4 | 2,138.8 |
| Assets under custody | 286.9 | 1,008.5 | 4,969.9 | 6,576.6 |
| o/w Third party deposit current accounts | -35.9 | 28.9 | -155.1 | 251.2 |
| Direct deposits | 144.2 | -517.4 | -521.6 | -2,377.9 |
| TOTAL NET SALES | 705.7 | 647.7 | 6,478.7 | 6,337.4 |
| TOTAL FINANCIAL ASSETS | AUG 2024 | DEC 2023 | AUG 2023 | |
| Assets under management | 62,665.3 | 58,016.1 | 56,117.8 | |
| Assets under custody | 43,056.4 | 36,098.5 | 33,178.9 | |
| o/w Third party deposit current accounts | 474.7 | 629.8 | 612.4 | |
| Direct deposits | 27,921.1 | 28,441.8 | 28,192.0 | |
| TOTAL FINANCIAL ASSETS |
FAM, retail net sales at € 268 million, TFA at € 34.0 billion
In August, Fineco Asset Management recorded retail net sales equal to € 268 million, bringing the total since the beginning of the year at € 1.7 billion. FAM assets as of August 31st, 2024 reached € 34.0 billion, of which € 22.6 billion retail class (+20% y/y) and € 11.4 billion institutional class (+4.6% y/y). The penetration rate of FAM retail classes on the Bank's Asset Under Management reached 36.1% compared to 33.6% a year ago.
Total Financial Assets close to € 134 billion, Private Banking at € 64 billion
Total Financial Assets were equal to € 133.6 billion, compared to € 117.5 billion in August 2023 (+14%). In particular, TFA related to Private Banking were at € 63.5 billion, compared to € 52.7 billion in August 2023 (+21%).
More than 10,000 new clients in August
In August, 10,543 new clients were acquired, growing by 32% y/y and leading to 96,269 new clients since the beginning of the year (+26% y/y). Total number of clients reached 1,629,602 as of August 31st, 2024.
figures in € million
| PFA NETWORK NET SALES | AUG 2024 | AUG 2023 | JAN-AUG '24 | JAN-AUG '23 |
|---|---|---|---|---|
| Assets under management | 273.8 | 157.6 | 2,055.2 | 2,141.7 |
| Assets under custody | 170.1 | 753.4 | 3,443.2 | 4,975.2 |
| o/w Third party deposit current accounts | -20.2 | 14.9 | -79.0 | 151.9 |
| Direct deposits | 125.0 | -392.5 | -469.9 | -1,947.9 |
| TOTAL NET SALES | 569.0 | 518.5 | 5,028.5 | 5,169.0 |
| PFA NETWORK TFA | AUG 2024 | DEC 2023 | AUG 2023 | |
| Assets under management | 62,202.2 | 57,551.2 | 55,650.5 | |
| Assets under custody | 32,042.4 | 27,020.9 | 24,791.9 | |
| o/w Third party deposit current accounts | 265.7 | 344.7 | 328.9 | |
| Direct deposits | 21,667.1 | 22,133.3 | 21,929.0 | |
| TOTAL FINANCIAL ASSETS | 115,911.7 | 106,705.5 | 102,371.3 |
Contacts: Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 02 2887 2358 [email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334